Australian REITome Fund (TSX:HRR.UN) Momentum Rank : 7 (As of May. 14, 2024)

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What is Australian REITome Fund Momentum Rank?

Australian REITome Fund 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.

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Competitive Comparison of Australian REITome Fund's Momentum Rank

For the REIT - Specialty subindustry, Australian REITome Fund'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.

Australian REITome Fund's Momentum Rank Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Australian REITome Fund's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Australian REITome Fund's Momentum Rank falls into.

Australian REITome Fund Momentum Rank Related Terms

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Australian REITome Fund (TSX:HRR.UN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Australian REIT Income Fund (TSX:HRR.UN) » Definitions » Momentum Rank

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Traded in Other Exchanges

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Address

610 Chartwell Road, Suite 204, Oakville, ON, CAN, L6J 4A5

Website

https://www.harvestportfolios.com

Australian REIT Income Fund invests in an actively managed portfolio comprised primarily of equity securities issued by Australian real estate investment trusts and issuers principally engaged in the real estate industry in Australia. The Fund's investment objectives are to provide unitholders with stable monthly cash distributions and the opportunity for capital appreciation. The Fund is offering Series A units and Series F units.

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