Avgol Industries 1953 (XTAE:AVGL) Momentum Rank : 0 (As of Jun. 14, 2024)

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What is Avgol Industries 1953 Momentum Rank?

Avgol Industries 1953 has the Momentum Rank of 0.

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.

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Avgol Industries 1953 (XTAE:AVGL) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Manufacturing - Apparel & Accessories » Avgol Industries 1953 Ltd (XTAE:AVGL) » Definitions » Momentum Rank

Traded in Other Exchanges

N/A

Address

20 Lincoln Street, 29th floor, Rubinstein House, Tel Aviv, ISR, 67134

Website

http://www.avgol.com

Avgol Industries 1953 Ltd manufactures non-woven fabric solutions. The company focuses on the hygiene market delivering non-woven fabric innovation to the baby diaper, adult incontinence and feminine hygiene product manufacturers and brands, as well as number of medical and industrial applications. It serves in approximately 30 countries worldwide, with manufacturing sites in Israel, United States, China and Russia.

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