Niutech Environment Technology (SHSE:688309) Momentum Rank : 5 (As of May. 26, 2024)

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What is Niutech Environment Technology Momentum Rank?

Niutech Environment Technology 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 Niutech Environment Technology's Momentum Rank

For the Pollution & Treatment Controls subindustry, Niutech Environment Technology'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.

Niutech Environment Technology's Momentum Rank Distribution in the Industrial Products Industry

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

* The bar in red indicates where Niutech Environment Technology's Momentum Rank falls into.

Niutech Environment Technology Momentum Rank Related Terms

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Niutech Environment Technology (SHSE:688309) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Niutech Environment Technology Corp (SHSE:688309) » Definitions » Momentum Rank

Traded in Other Exchanges

N/A

Address

No. 9889 Haitang Road, High-tech Zone, Shandong Province, Jinan, CHN, 250031

Website

http://www.niutech.com

Niutech Environment Technology Corp is engaged in organic waste cracking technology research and development and related equipment design, production and sales. The company specializes in high polymer waste, such as waste tyre, waste plastic, oil sludge, waste oil, biomass, hazard waste and municipal sludge Pyrolysis technology and equipment manufacturing and product sales.

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