abrdn New India Investment Trust (LSE:ANII) Momentum Rank : 6 (As of May. 09, 2024)

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What is abrdn New India Investment Trust Momentum Rank?

abrdn New India Investment Trust has the Momentum Rank of 6.

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 abrdn New India Investment Trust's Momentum Rank

For the Asset Management subindustry, abrdn New India Investment Trust'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.

abrdn New India Investment Trust's Momentum Rank Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, abrdn New India Investment Trust's Momentum Rank distribution charts can be found below:

* The bar in red indicates where abrdn New India Investment Trust's Momentum Rank falls into.

abrdn New India Investment Trust Momentum Rank Related Terms

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abrdn New India Investment Trust (LSE:ANII) Business Description

Industry

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ANIIl:UK

Address

280 Bishopsgate, London, GBR, EC2M 4AG

Website

https://www.aberdeen-newindia.co.uk

abrdn New India Investment Trust PLC is an investment trust. It outsources its investment management and administration to an investment management company. The company aims to provide shareholders with long-term capital appreciation by investing in companies that are incorporated in India or which derive revenue or profit from India, with dividend yield from the Company being of secondary importance. It invests in sectors such as Financials, Information Technology, Consumer Staples, Healthcare, Industrials, Real Estate, and others.

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