Reliance Industries (WBO:RLI) Momentum Rank : 6 (As of May. 05, 2024)

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What is Reliance Industries Momentum Rank?

Reliance Industries has the Momentum Rank of 6.

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 Reliance Industries's Momentum Rank

For the Oil & Gas Refining & Marketing subindustry, Reliance Industries'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.

Reliance Industries's Momentum Rank Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Reliance Industries's Momentum Rank distribution charts can be found below:

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

Reliance Industries Momentum Rank Related Terms

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Reliance Industries (WBO:RLI) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Reliance Industries Ltd (WBO:RLI) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

RELIANCE:India 500325:India RIGDl:UK RIGD:UK RLI:Germany

Address

222, Nariman Point, 3rd Floor, Maker Chambers IV, Mumbai, MH, IND, 400021

Website

https://www.ril.com

Reliance Industries Ltd is engaged in hydrocarbon exploration and production, refining and marketing, petrochemicals, financial services, retail, and communications. The Group has five principal operating and reporting segments: Oil To Chemicals (O2C), Oil and Gas, Retail, Digital Services and Financial Services. Located in west India, Reliance's refineries produce a range of petroleum products that find use as fuel variants, feedstock, and fuel for power and cement plants. Fuels produced in refineries are exported to several countries and can be processed into any grade of gasoline or diesel. The Oil to Chemicals segment that derives the majority revenue includes Refining, Petrochemicals, fuel retailing through Reliance BP Mobility Limited, aviation fuel, and bulk wholesale marketing.