Innergex Renewable Energy (TSX:INE.PR.A.PFD) Momentum Rank

: 2 (As of Today)

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Innergex Renewable Energy has the Momentum Rank of 2.

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

For the Utilities - Renewable subindustry, Innergex Renewable Energy'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.

Innergex Renewable Energy Momentum Rank Distribution

For the Utilities - Independent Power Producers industry and Utilities sector, Innergex Renewable Energy's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Innergex Renewable Energy's Momentum Rank falls into.

Innergex Renewable Energy Momentum Rank Related Terms

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Innergex Renewable Energy (TSX:INE.PR.A.PFD) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Independent Power Producers » Innergex Renewable Energy Inc (TSX:INE.PR.A.PFD) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

INGXF:USA 3IX:Germany INE.PR.C.PFD:Canada INE:Canada

Address

1225 Saint-Charles Street West, 10th Floor, Longueuil, QC, CAN, J4K 0B9

Website

https://www.innergex.com

Innergex Renewable Energy Inc is an independent Canadian renewable power producer. It develops, acquires, owns, and operates hydroelectric, wind, and solar facilities in Canada, the United States, France, and Chile. Most of the energy that the company generates comes from its hydroelectric facilities. Innergex Renewable Energy primarily generates revenue through the sale of electricity from its hydroelectric sites. The company's wind farms also generate substantial amounts of energy and revenue.

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