Renesas Electronics (TSE:6723) Momentum Rank : 7 (As of Apr. 25, 2024)

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What is Renesas Electronics Momentum Rank?

Renesas Electronics has the Momentum Rank of 7.

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 Renesas Electronics's Momentum Rank

For the Semiconductors subindustry, Renesas Electronics'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.

Renesas Electronics's Momentum Rank Distribution in the Semiconductors Industry

For the Semiconductors industry and Technology sector, Renesas Electronics's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Renesas Electronics's Momentum Rank falls into.

Renesas Electronics Momentum Rank Related Terms

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Renesas Electronics (TSE:6723) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Semiconductors » Renesas Electronics Corp (TSE:6723) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

RNECY:USA RNECF:USA RNEC:Mexico NEN:Germany

Address

Toyosu Foresia, 3-2-24, Toyosu, Koto-ku, Tokyo, JPN, 135-0061

Website

http://www.renesas.com

Renesas Electronics Corp is a Japan-based company that manufactures and distributes semiconductor components and other products for use in automotive, healthcare, computer peripheral, connectivity, home appliance, and industrial end markets. Its product portfolio includes microcontrollers and microprocessors, embedded systems platform, insulated-gate bipolar transistors, intelligent power devices, thrysistors, transistors, diodes, analog integrated circuits, and optoelectronics products. The firm has operations in Japan, the Americas, Europe, Middle East and Africa, and Asia.

Renesas Electronics (TSE:6723) Headlines

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