Integral Diagnostics (ASX:IDX) Momentum Rank : 2 (As of Apr. 26, 2024)

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What is Integral Diagnostics Momentum Rank?

Integral Diagnostics has the Momentum Rank of 2.

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 Integral Diagnostics's Momentum Rank

For the Diagnostics & Research subindustry, Integral Diagnostics'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.

Integral Diagnostics's Momentum Rank Distribution in the Medical Diagnostics & Research Industry

For the Medical Diagnostics & Research industry and Healthcare sector, Integral Diagnostics's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Integral Diagnostics's Momentum Rank falls into.

Integral Diagnostics Momentum Rank Related Terms

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Integral Diagnostics (ASX:IDX) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Diagnostics & Research » Integral Diagnostics Ltd (ASX:IDX) » Definitions » Momentum Rank

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Traded in Other Exchanges

ITGDF:USA

Address

45 William Street, Suite 9.02, Level 9, Melbourne, VIC, AUS, 3000

Website

http://www.integraldiagnostics.com.au

Integral Diagnostics is Australia's fourth-largest diagnostic imaging provider. In Australia, imaging revenues are almost entirely earned via the public health Medicare system. Integral typically earns approximately 90% of group revenue from diagnostic imaging in Australia and the remainder from diagnostic imaging in Auckland, New Zealand. In Australia, Integral services regional areas in Queensland, Victoria, New South Wales, and Western Australia.