Core One Labs (XCNQ:COOL) Momentum Rank : 2 (As of Apr. 24, 2024)

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What is Core One Labs Momentum Rank?

Core One Labs 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 of Core One Labs's Momentum Rank

For the Biotechnology subindustry, Core One Labs'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.

Core One Labs's Momentum Rank Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Core One Labs's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Core One Labs's Momentum Rank falls into.

Core One Labs Momentum Rank Related Terms

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Core One Labs (XCNQ:COOL) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Core One Labs Inc (XCNQ:COOL) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

CLABF:USA LD6:Germany

Address

1199 West Hastings Street, Suite 800, Vancouver, BC, CAN, V6E 3T5

Website

https://www.core1labs.com

Core One Labs Inc is a psychedelic research and development life sciences enterprise focused on bringing psychedelic medicines to market through novel delivery systems and psychedelic assisted psychotherapy. The company intends to further develop and apply the technology to psychedelic compounds, such as psilocybin. The Company operates a virtual clinic that assesses patients for the appropriateness of treatment plans for the use of medical cannabis to treat their symptoms. The Company partners with physicians and Health Canada's licensed producers for the provision of treatments, fulfillment of prescriptions, and sale of related products.