Kandagiri Spinning Mills (BOM:521242) Momentum Rank : 1 (As of May. 25, 2024)

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What is Kandagiri Spinning Mills Momentum Rank?

Kandagiri Spinning Mills has the Momentum Rank of 1.

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 of Kandagiri Spinning Mills's Momentum Rank

For the Textile Manufacturing subindustry, Kandagiri Spinning Mills'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.

Kandagiri Spinning Mills's Momentum Rank Distribution in the Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Kandagiri Spinning Mills's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Kandagiri Spinning Mills's Momentum Rank falls into.

Kandagiri Spinning Mills Momentum Rank Related Terms

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Kandagiri Spinning Mills (BOM:521242) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Manufacturing - Apparel & Accessories » Kandagiri Spinning Mills Ltd (BOM:521242) » Definitions » Momentum Rank

Traded in Other Exchanges

N/A

Address

Mill Premises, Post Box No. 3, Udayapatti P.O, Salem, TN, IND, 636 140

Website

https://www.kandagirimills.com

Kandagiri Spinning Mills Ltd is engaged in Cotton Yarn and continued to lease out its immovable properties. The Company's primary segment is identified as a business segment based on the nature of products, risk, returns, and internal reporting business systems the company is principally engaged in a single business segment viz. trading of cotton yarn. The majority of revenue is received from the sale of products.

Kandagiri Spinning Mills (BOM:521242) Headlines

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