Noble Helium (ASX:NHE) Momentum Rank : 0 (As of Jun. 02, 2024)

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What is Noble Helium Momentum Rank?

Noble Helium 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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Noble Helium (ASX:NHE) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Noble Helium Ltd (ASX:NHE) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

216 St. Georges Terrace, Level 8, London House, Perth, WA, AUS, 6000

Website

https://www.noblehelium.com.au

Noble Helium Ltd is an Independent Helium exploration company In Australia with operations and explorations in Tanzania, East Africa. It is engaged in developing large new supplies of high-grade primary helium to diversify the supply chain for the rare and technologically vital gas. The company has three projects namely; North Rukwa Project, North Nyasa Project and Eyasi and Manyara Projects.

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