New Hoong Fatt Holdings Bhd (XKLS:7060) Momentum Rank : 10 (As of Dec. 13, 2024)

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What is New Hoong Fatt Holdings Bhd Momentum Rank?

New Hoong Fatt Holdings Bhd has the Momentum Rank of 10.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

Competitive Comparison of New Hoong Fatt Holdings Bhd's Momentum Rank

For the Auto Parts subindustry, New Hoong Fatt Holdings Bhd's Momentum Rank, along with its competitors' market caps and Momentum Rank data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

New Hoong Fatt Holdings Bhd's Momentum Rank Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, New Hoong Fatt Holdings Bhd's Momentum Rank distribution charts can be found below:

* The bar in red indicates where New Hoong Fatt Holdings Bhd's Momentum Rank falls into.

New Hoong Fatt Holdings Bhd Momentum Rank Related Terms

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New Hoong Fatt Holdings Bhd Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » New Hoong Fatt Holdings Bhd (XKLS:7060) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

Jalan Teratai, Meru, Lot 5043, Klang, SGR, MYS, 41050

Website

https://www.newhoongfatt.com.my

New Hoong Fatt Holdings Bhd is an investment holding company based in Malaysia that provides automotive parts solutions through its subsidiaries. Its products are classified under different categories such as Metal Automotive parts which include door, hood, tailgate, fender, trunk lid, and bonnet; Plastic Automotive parts such as the bumper, grille, lamp, lamp accessories, door handle, and door mirror; and Automotive Accessories such as oil filter, spark plug, brake pad, air filter, ignition switch, fan motor, and others. The company's geographical segments include Malaysia; ASEAN; and Non-ASEAN (such as Middle East, Central and South America, Europe, Africa, and China). It derives the majority of revenue from Malaysia.

New Hoong Fatt Holdings Bhd Headlines

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