Xining Special Steel Co (SHSE:600117) Momentum Rank : 5 (As of May. 01, 2024)

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What is Xining Special Steel Co Momentum Rank?

Xining Special Steel Co has the Momentum Rank of 5.

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 Xining Special Steel Co's Momentum Rank

For the Steel subindustry, Xining Special Steel Co'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.

Xining Special Steel Co's Momentum Rank Distribution in the Steel Industry

For the Steel industry and Basic Materials sector, Xining Special Steel Co's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Xining Special Steel Co's Momentum Rank falls into.

Xining Special Steel Co Momentum Rank Related Terms

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Xining Special Steel Co (SHSE:600117) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Xining Special Steel Co Ltd (SHSE:600117) » Definitions » Momentum Rank

Traded in Other Exchanges

N/A

Address

No. 52 West Qaidam Road, Qinghai Province, Xining, CHN, 810005

Website

http://www.xntg.com

Xining Special Steel Co Ltd is mainly engaged in special steel processing, and is Northwest China's largest special steel production enterprise. Products include carbon steel, alloy steel products, die steel, and stainless steel.

Xining Special Steel Co (SHSE:600117) Headlines

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