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Nokian Tyres (Nokian Tyres) Momentum Rank : 8 (As of May. 16, 2024)


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What is Nokian Tyres Momentum Rank?

Nokian Tyres 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 Nokian Tyres's Momentum Rank

For the Auto Parts subindustry, Nokian Tyres'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.


Nokian Tyres's Momentum Rank Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Nokian Tyres's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Nokian Tyres's Momentum Rank falls into.



Nokian Tyres Momentum Rank Related Terms

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Nokian Tyres (Nokian Tyres) Business Description

Address
Pirkkalaistie 7, P.O. Box 20, Nokia, FIN, 37101
Nokian Tyres plc develops and manufactures rubber tires under the Nokian Tyres brand name for passenger cars, vans, trucks and heavy machinery. The company sells tires to wholesale distributors and through company-owned retail stores, which are operated under the Vianor brand name. The firm organizes itself into three segments based on product and distribution type: Passenger Car Tyres, Heavy Tyres, and Vianor. The passenger car tires segment generates the majority of revenue.