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Alerio Gold (XCNQ:ALE) Momentum Rank : 0 (As of Jun. 10, 2024)


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What is Alerio Gold Momentum Rank?

Alerio Gold 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.

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Alerio Gold (XCNQ:ALE) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Alerio Gold Corp (XCNQ:ALE) » Definitions » Momentum Rank
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Traded in Other Exchanges
3FR0:Germany
Address
409 Granville Street, Suite 459, Vancouver, BC, CAN, V6C 1T2
Website
https://www.aleriogold.com
Alerio Gold Corp is a mineral exploration and development company engaged in acquiring, exploring, and developing natural resource properties, with a focus in Guyana, South America. The company currently has 100% interest in two gold properties located in Guyana the Tassawini Property, the Puruni gold Project, and the Harpy Property.
Executives
Chatradharee Mohan 10% Security Holder