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Square Textiles (DHA:SQUARETEXT) Momentum Rank : 0 (As of Apr. 28, 2024)


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What is Square Textiles Momentum Rank?

Square Textiles 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.

Square Textiles Momentum Rank Related Terms

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Square Textiles (DHA:SQUARETEXT) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Manufacturing - Apparel & Accessories » Square Textiles PLC (DHA:SQUARETEXT) » Definitions » Momentum Rank
Comparable Companies
DHA:PTL DHA:MATINSPINN DHA:ENVOYTEX DHA:MAKSONSPIN DHA:MALEKSPIN DHA:AL-HAJTEX DHA:MHSML DHA:ARGONDENIM DHA:SAIHAMCOT DHA:HFL HKSE:02313 SHSE:600346 SZSE:000301 IST:SASA TSE:3402 TPE:1402 SHSE:601233 BOM:532889 SHSE:600295 AIN
Traded in Other Exchanges
N/A
Address
Square Centre, 48 Mohakhali Commercial Area, Dhaka, BGD, 1212
Website
https://textile.squaregroup.com
Square Textiles PLC is engaged in developing, manufacturing, and marketing cotton/yarn for human as well as industrial use. The company produces cotton yarn, polyester, organic yarn, bamboo yarn and blended yarn mix of cotton, and polyester of different counts. The firm is based in Bangladesh.

Square Textiles (DHA:SQUARETEXT) Headlines

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