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Bactech Environmental (XCNQ:BAC) Momentum Rank : 0 (As of Jun. 08, 2024)


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What is Bactech Environmental Momentum Rank?

Bactech Environmental 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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Bactech Environmental (XCNQ:BAC) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Industrials » Waste Management » Bactech Environmental Corp (XCNQ:BAC) » Definitions » Momentum Rank
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Traded in Other Exchanges
BCCEF:USA 0BT1:Germany
Address
37 King Street East, Suite 409, Toronto, ON, CAN, M5C 1E9
Website
https://www.bactechgreen.com
Bactech Environmental Corp is an environmental technology company based in Canada. It is engaged in applying the bioleaching technology to abatement and reclamation projects to remove the harmful elements including arsenic and sulphur from the environment.
Executives
Murray Ross Orr Director or Senior Officer of Insider or Subsidiary (other than in 4,5,6)