Premiumome (TSX:PIC.PR.A.PFD) Momentum Rank : 5 (As of May. 08, 2024)

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What is Premiumome Momentum Rank?

Premiumome 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 Premiumome's Momentum Rank

For the Asset Management subindustry, Premiumome'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.

Premiumome's Momentum Rank Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Premiumome's Momentum Rank distribution charts can be found below:

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

Premiumome Momentum Rank Related Terms

Thank you for viewing the detailed overview of Premiumome's Momentum Rank provided by GuruFocus.com. Please click on the following links to see related term pages.

Premiumome (TSX:PIC.PR.A.PFD) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Premium Income Corp (TSX:PIC.PR.A.PFD) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

PIC.A:Canada

Address

121 King Street West, Suite 2600, P.O. Box 113, Standard Life Centre, Toronto, ON, CAN, M5H 3T9

Website

https://www.mulvihill.com

Premium Income Corp is a mutual fund corporation. The investment objective is to provide Preferred shareholders with cumulative preferential quarterly cash distributions to provide Class A shareholders with quarterly cash distributions and return the original issue price to holders of both Preferred shares and Class A shares upon windup of the Fund. The fund mainly invests in common shares of the Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada and The Toronto-Dominion Bank and common shares of National Bank of Canada.

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