Eregli Demir Ve Celik Fabrikalari TAS (IST:EREGL) Momentum Rank : 0 (As of Jun. 01, 2024)

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What is Eregli Demir Ve Celik Fabrikalari TAS Momentum Rank?

Eregli Demir Ve Celik Fabrikalari TAS 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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Eregli Demir Ve Celik Fabrikalari TAS (IST:EREGL) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Eregli Demir Ve Celik Fabrikalari TAS (IST:EREGL) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

ERELY:USA EDVA:Germany

Address

Barbaros Mahallesi Ardic Sok No: 6, Atasehir, Istanbul, TUR, 34746

Website

https://www.erdemir.com.tr

Eregli Demir Ve Celik Fabrikalari TAS is a Turkey-based company engaged in production of flat steel, long steel and other steel products. The company also provides engineering and project management services, as well as port services. As well, the company owns an iron ore mining arm. The company's steel products include hot-rolled product, cold-rolled product, galvanized products, metal packaging steel, billet, wire-rod, etc. These products are used in the automotive sector, manufacturing industry, projected works, consumer products, packaging industries and others. Most of the company's revenue comes from the Turkish domestic market.

Eregli Demir Ve Celik Fabrikalari TAS (IST:EREGL) Headlines

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