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RioZim (XZIM:RIOZ.ZW) Momentum Rank : 0 (As of Apr. 25, 2024)


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What is RioZim Momentum Rank?

RioZim 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.

RioZim Momentum Rank Related Terms

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RioZim (XZIM:RIOZ.ZW) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » RioZim Ltd (XZIM:RIOZ.ZW) » Definitions » Momentum Rank
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Traded in Other Exchanges
N/A
Address
No.1 Kenilworth Road, Highlands, Harare, ZWE
Website
https://www.riozim.co.zw
RioZim Ltd together with its subsidiaries engages in mining and metallurgical operations. The company's operating segments include Gold and Base Metals. Gold segment develops and mines gold that is ultimately sold as gold bullion. It generates maximum revenue from the Gold. Geographically, it derives a majority of revenue from Zimbabwe. All the group's operations are located in Zimbabwe and situated in two geographic locations, Masvingo Province and Mashonaland West Province. The company is engaged in the operation of the Renco Goldmine in the south-east of Zimbabwe, Dalny Mine based in Chakari, the Cam and Motor gold and Empress Nickel Refinery mine in Kadoma.

RioZim (XZIM:RIOZ.ZW) Headlines

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