Matrix IT (XTAE:MTRX) Momentum Rank : 0 (As of May. 14, 2024)

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What is Matrix IT Momentum Rank?

Matrix IT 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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Matrix IT (XTAE:MTRX) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Matrix IT Ltd (XTAE:MTRX) » Definitions » Momentum Rank

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Traded in Other Exchanges

N/A

Address

3 Abba Eban Boulevard, Herzlia Pituach, ISR, 4612001

Website

http://www.matrix.co.il

Matrix IT Ltd is an information technology company. It manages segments such as software solutions and value added services in Israel, software product marketing and support services, computer infrastructure and integration solutions, training and implementation, and software solutions and services in USA. Majority of its revenue is derived from its software solutions and services segment. The company's revenue is generated from its Israel operations.