Mydecine Innovations Group (Mydecine Innovations Group) Momentum Rank : 0 (As of Apr. 25, 2024)

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What is Mydecine Innovations Group Momentum Rank?

Mydecine Innovations Group 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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Mydecine Innovations Group (Mydecine Innovations Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Mydecine Innovations Group Inc (OTCPK:MYCOF) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

MYIG:UK 0NF0:Germany MYCO:Canada

Address

789 West Pender Street, Suite 810, Vancouver, BC, CAN, V6C 1H2

Website

https://www.mydecine.com

Mydecine Innovations Group Inc is a biopharma and life sciences company engaged in the research, drug development, and clinical trials of psilocybin products.