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DevvStream Holdings (DevvStream Holdings) Momentum Rank : 0 (As of Jun. 08, 2024)


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What is DevvStream Holdings Momentum Rank?

DevvStream Holdings 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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DevvStream Holdings (DevvStream Holdings) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » DevvStream Holdings Inc (OTCPK:DSTRF) » Definitions » Momentum Rank
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Traded in Other Exchanges
CQ0:Germany DESG:Canada
Address
2133-1177 W. Hastings Street, Vancouver, BC, CAN, V6E 2K3
Website
https://www.devvstream.com
DevvStream Holdings Inc is an Environmental Social and Governance (ESG) principled, high-tech, impact investing company focused on high quality and high return carbon credit generating projects. DES offers investors exposure to carbon credits, a key instrument used to reduce emissions of carbon dioxide and other greenhouse gases from industrial activities to reduce the effects of global warming.