Inversiones Covadonga (XSGO:COVADONGA) Momentum Rank

: 2 (As of Today)

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Inversiones Covadonga 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 Asset Management subindustry, Inversiones Covadonga'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.

Inversiones Covadonga Momentum Rank Distribution

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

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

Inversiones Covadonga Momentum Rank Related Terms

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Inversiones Covadonga (XSGO:COVADONGA) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Inversiones Covadonga SA (XSGO:COVADONGA) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

Matias Cousino 150 Of 201, Santiago, CHL

Website

Inversiones Covadonga SA is an investment company. Its main business activities are investing in shares and fund management. The company also invests in the fields of real estate, securities, and property rights.

Inversiones Covadonga (XSGO:COVADONGA) Headlines

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