GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Independent Power Producers » Concord New Energy Group Ltd (OTCPK:CWPWF) » Definitions » Momentum Rank

Concord New Energy Group (Concord New Energy Group) Momentum Rank : 5 (As of May. 21, 2024)


View and export this data going back to . Start your Free Trial

What is Concord New Energy Group Momentum Rank?

Concord New Energy Group has the Momentum Rank of 5.

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 Concord New Energy Group's Momentum Rank

For the Utilities - Renewable subindustry, Concord New Energy Group'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.


Concord New Energy Group's Momentum Rank Distribution in the Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Concord New Energy Group's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Concord New Energy Group's Momentum Rank falls into.



Concord New Energy Group Momentum Rank Related Terms

Thank you for viewing the detailed overview of Concord New Energy Group's Momentum Rank provided by GuruFocus.com. Please click on the following links to see related term pages.


Concord New Energy Group (Concord New Energy Group) Business Description

Traded in Other Exchanges
Address
16 Harcourt Road, Suite 3901, 39th Floor, Far East Finance Centre, Admiralty, Hong Kong, HKG
Concord New Energy Group Ltd is an investment holding company. The principal activities of the company are investment in power plants, provision of design, technical and consultation services, and provision of power plant operation and maintenance services. The operating segments of the company are power generation which includes the operation of wind and solar power plants, Intelligent operation and maintenance segment which includes provision operation and maintenance, asset management, overhaul & commissioning service for wind and solar power plants; and others segment which includes the provision of design, technical and consultancy services, undertaking electrical engineering and construction of power plant projects. The company generates its revenue from the power generation segment.

Concord New Energy Group (Concord New Energy Group) Headlines

No Headlines