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Allegiance Coal (ASX:AHQ) Momentum Rank : 0 (As of Apr. 29, 2024)


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What is Allegiance Coal Momentum Rank?

Allegiance Coal 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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Allegiance Coal (ASX:AHQ) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Allegiance Coal Ltd (ASX:AHQ) » Definitions » Momentum Rank
Comparable Companies
ASX:TIG ASX:BRL ASX:CKA ASX:AJL ASX:GRX ASX:AKM ASX:JAL ASX:VMM ASX:MR1 ASX:ATU MIC:RASP AMR ASX:CRN HKSE:00639 SHSE:600740 WAR:JSW HCC SHSE:600997 ASX:SMR SHSE:601011
Traded in Other Exchanges
N/A
Address
109 Pitt Street, Suite 107, Sydney, NSW, AUS, 2000
Website
https://www.allegiancecoal.com.au
Allegiance Coal Ltd is an Australia-based company engaged in the acquisition and exploration of coal tenements. The company's project includes Telkwa Metallurgical Coal, Tenas Metallurgical Coal, Back Creek Project, Black Warrior, New Elk Mine, and Kilmain Project.

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