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Zinc of Ireland NL (ASX:ZMI) Momentum Rank : 0 (As of Jun. 10, 2024)


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What is Zinc of Ireland NL Momentum Rank?

Zinc of Ireland NL 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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Zinc of Ireland NL (ASX:ZMI) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Zinc of Ireland NL (ASX:ZMI) » Definitions » Momentum Rank
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ASX:C7A ASX:CUL ASX:BOA ASX:ACS ASX:OLY ASX:CRB ASX:JAV ASX:ALB ASX:TAS ASX:PR1 ASX:BHP ASX:RIO LSE:RIO LSE:GLEN ASX:FMG BSP:VALE3 SAU:1211 GMEXICOB LSE:AAL BOM:500188
Traded in Other Exchanges
39G:Germany
Address
431 Roberts Road, Suite B9, Subiaco, Perth, WA, AUS, 6008
Website
https://www.zincofireland.com.au
Zinc of Ireland NL is a Perth-based zinc exploration company dedicated to creating and delivering value from our high grade Irish-Type zinc projects in Ireland and in Western Australia.

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