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Tamar Petroleum (XTAE:TMRP) Momentum Rank : 0 (As of Apr. 25, 2024)


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What is Tamar Petroleum Momentum Rank?

Tamar Petroleum has the Momentum Rank of 0.

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.

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Tamar Petroleum (XTAE:TMRP) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Tamar Petroleum Ltd (XTAE:TMRP) » Definitions » Momentum Rank
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Traded in Other Exchanges
N/A
Address
11 Galgalei Haplada Street, Herzliya Pituach, Herzeliya, ISR, 4672211
Website
https://www.tamarpetroleum.co.il
Tamar Petroleum Ltd is an Israel based company engaged in the production, and sale of natural gas. It has interest rights in the Tamar and Dalit reservoirs located in the west of Haifa. The company's only operating segment is exploration, development, production, and sale of natural gas.

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