GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Regulated » Union Gas Ltd (TSX:UNG.PR.D.PFD) » Definitions » Momentum Rank

Union Gas (TSX:UNG.PR.D.PFD) Momentum Rank : 0 (As of Jun. 09, 2024)


View and export this data going back to 1958. Start your Free Trial

What is Union Gas Momentum Rank?

Union Gas has the Momentum Rank of 0.

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.


Union Gas Momentum Rank Related Terms

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


Union Gas (TSX:UNG.PR.D.PFD) Business Description

Comparable Companies
Traded in Other Exchanges
N/A
Address
50 Keil Drive North, Chatham, ON, CAN, N7M 5M1
Union Gas Ltd provides natural gas storage, distribution, and transmission services in Canada. It owns and operates natural gas distribution, storage and transmission facilities in Ontario. The company distributes natural gas to customers in northern, southwestern and eastern Ontario, and provides natural gas storage and transportation services to other utilities and energy market participants. The distribution business serves approximately 1.4 million residential, commercial and industrial customers in over 400 communities across northern, southwestern and eastern Ontario. Union Gas' storage and transmission business offer a range of storage and transportation services to customers at the Dawn Hub (Dawn).

Union Gas (TSX:UNG.PR.D.PFD) Headlines

No Headlines