Renova Energia (BSP:RNEW4) Momentum Rank : 4 (As of May. 13, 2024)

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What is Renova Energia Momentum Rank?

Renova Energia has the Momentum Rank of 4.

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 Renova Energia's Momentum Rank

For the Utilities - Renewable subindustry, Renova Energia'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.

Renova Energia's Momentum Rank Distribution in the Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Renova Energia's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Renova Energia's Momentum Rank falls into.

Renova Energia Momentum Rank Related Terms

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Renova Energia (BSP:RNEW4) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Independent Power Producers » Renova Energia SA (BSP:RNEW4) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

RNEW11:Brazil RNEW3:Brazil

Address

Av. Roque Petroni Júnior, Suite 999, 4th Floor, Sao Paulo, SP, BRA, 4571011

Website

https://www.renovaenergia.com.br

Renova Energia SA is a Brazilian energy company generating electric power from renewable sources, focusing on wind farms, small hydroelectric plants, and solar energy. The company is responsible for prospecting, developing, and implementing projects to generate power. The company is also involved in the power trading business. A majority of revenue is derived from a combination of wind and power trading, with a significantly smaller portion of revenue coming from both small hydroelectric plants and solar power. Renova generates the vast majority of its revenue in Brazil.

Renova Energia (BSP:RNEW4) Headlines

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