Genesis Energy (NZSE:GNE) Momentum Rank : 5 (As of May. 12, 2024)

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What is Genesis Energy Momentum Rank?

Genesis Energy 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 Genesis Energy's Momentum Rank

For the Utilities - Independent Power Producers subindustry, Genesis Energy'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.

Genesis Energy's Momentum Rank Distribution in the Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Genesis Energy's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Genesis Energy's Momentum Rank falls into.

Genesis Energy Momentum Rank Related Terms

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Genesis Energy (NZSE:GNE) Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

1G6:Germany GNE:Australia

Address

155 Fanshawe Street, Genesis Energy Level 6, Wynyard Quarter, Auckland, NZL, 1010

Website

https://www.genesisenergy.co.nz

Genesis Energy is one of New Zealand's leading producers of electricity, accounting for more than 15% of the country's total generation. The firm enjoys a strong retail presence, with the highest retail market share, at over 25%. The company has a mix of renewable and thermal assets, with the latter accounting for about 55%-60% of the firm's overall production. The company has a 46% interest in the Kupe oil and gas field.