Akita Drilling (Akita Drilling) Momentum Rank : 8 (As of Apr. 27, 2024)

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What is Akita Drilling Momentum Rank?

Akita Drilling has the Momentum Rank of 8.

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 Akita Drilling's Momentum Rank

For the Oil & Gas Drilling subindustry, Akita Drilling'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.

Akita Drilling's Momentum Rank Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Akita Drilling's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Akita Drilling's Momentum Rank falls into.

Akita Drilling Momentum Rank Related Terms

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Akita Drilling (Akita Drilling) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Akita Drilling Ltd (OTCPK:AKTAF) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

774:Germany AKT.B:Canada AKT.A:Canada

Address

333-7th Avenue SW, Suite 1000, Calgary, AB, CAN, T2P 2Z1

Website

https://www.akita-drilling.com

Akita Drilling Ltd is a Canadian oil and gas drilling contractor. The company is engaged in providing contract drilling services, primarily to the oil and gas industry, in Canada and the United States. The company owns and operates over 35 drilling rigs. It is also involved in the drilling related to potash mining and the development of storage caverns.