GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » KONE Oyj (OTCPK:KNYJF) » Definitions » Momentum Rank

KONE Oyj (KONE Oyj) Momentum Rank : 5 (As of May. 07, 2024)


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

What is KONE Oyj Momentum Rank?

KONE Oyj 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 KONE Oyj's Momentum Rank

For the Specialty Industrial Machinery subindustry, KONE Oyj'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.


KONE Oyj's Momentum Rank Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, KONE Oyj's Momentum Rank distribution charts can be found below:

* The bar in red indicates where KONE Oyj's Momentum Rank falls into.



KONE Oyj Momentum Rank Related Terms

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


KONE Oyj (KONE Oyj) Business Description

Address
Keilasatama 3, P.O. Box 7, Espoo, FIN, FI-02150
Kone is a global top-four supplier of elevators and escalators. Kone began producing elevators in Finland in 1918 and today generates revenue in three ways: selling new elevators and escalators, modernizing old equipment, and servicing its installed base. Most of the company's profit comes from the last activity, where contracts are rolled over annually with built-in price increases. The bulk of Kone's business is in elevators, which are more numerous globally than escalators. Its business model is similar to its closest competitors Otis, Schindler, and TK Elevator.

KONE Oyj (KONE Oyj) Headlines

From GuruFocus

KONE awarded new contract with City of Kansas City

By PRNewswire PRNewswire 01-15-2019

KONE wins Elevator World Project of the Year award

By PRNewswire PRNewswire 01-21-2022

KONE Oyj Stock Appears To Be Modestly Overvalued

By GF Value GF Value 06-04-2021

Bernard Horn Comments on Kone

By Holly LaFon Holly LaFon 07-18-2019

Bernard Horn Comments on Kone OYJ

By Vera Yuan Vera Yuan 03-16-2015

KONE Acquires Eltec Elevator Ltd.

By PRNewswire PRNewswire 12-03-2018