APL Apollo Tubes (NSE:APLAPOLLO) Momentum Rank : 9 (As of May. 25, 2024)

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What is APL Apollo Tubes Momentum Rank?

APL Apollo Tubes has the Momentum Rank of 9.

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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Competitive Comparison of APL Apollo Tubes's Momentum Rank

For the Steel subindustry, APL Apollo Tubes'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.

APL Apollo Tubes's Momentum Rank Distribution in the Steel Industry

For the Steel industry and Basic Materials sector, APL Apollo Tubes's Momentum Rank distribution charts can be found below:

* The bar in red indicates where APL Apollo Tubes's Momentum Rank falls into.

APL Apollo Tubes Momentum Rank Related Terms

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APL Apollo Tubes (NSE:APLAPOLLO) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » APL Apollo Tubes Ltd (NSE:APLAPOLLO) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

533758:India

Address

36, Kaushambi, Near Anand Vihar Terminal, Ghaziabad, UP, IND, 201010

Website

https://www.aplapollo.com

APL Apollo Tubes Ltd is a steel pipe and tubes manufacturer. Its product portfolio consists of MS Black pipes, Galvanized Tubes, Pre-Galvanized Tubes, and Hollow sections used for structural application household structural applications, solar plants, agriculture structures, engineering, and greenhouses. It operates in a single segment that is the production of ERW steel tubes. Geographically, It operates only in India.

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