Iraqi Islamic Bank (IQS:BIIB) Momentum Rank : 0 (As of Jun. 11, 2024)

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What is Iraqi Islamic Bank Momentum Rank?

Iraqi Islamic Bank 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.

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Iraqi Islamic Bank (IQS:BIIB) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Iraqi Islamic Bank (IQS:BIIB) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

14 Ramadan Street, P.O. Box 6003, Al Mansour District, Baghdad, IRQ

Website

https://www.iraqiislamicb.iq

Iraqi Islamic Bank provides financial and banking services. Its service portfolio comprises of personal banking, financial services, corporate banking, and priority banking services. It offers its clients banking services including trade finance services, projects, and banking systems covering corporate finance, investment banking, project finance, trade and commodity finance, capital market products, treasury banking, international banking, securities, and contracting.