EDP Renovaveis (XLIS:EDPR) Momentum Rank : 5 (As of May. 12, 2024)

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What is EDP Renovaveis Momentum Rank?

EDP Renovaveis 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 EDP Renovaveis's Momentum Rank

For the Utilities - Renewable subindustry, EDP Renovaveis'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.

EDP Renovaveis's Momentum Rank Distribution in the Utilities - Independent Power Producers Industry

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

* The bar in red indicates where EDP Renovaveis's Momentum Rank falls into.

EDP Renovaveis Momentum Rank Related Terms

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EDP Renovaveis (XLIS:EDPR) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Independent Power Producers » EDP Renovaveis SA (XLIS:EDPR) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

EDRVF:USA EDPRu:UK 0ML1:UK EDW:Germany

Address

Calle Serrano Galvache, 56, Centro Empresarial Parque Norte, 7th Floor, Edificio Olmo, Madrid, ESP, 28033

Website

http://www.edpr.com

EDP Renovaveis, a 71%-owned subsidiary of integrated Portuguese utility EDP, was created in 2007. It builds, develops, and operates renewables plants, mostly wind and solar. With 14.7 GW of net installed capacity at the end of 2022, EDP Renovaveis is the fourth-largest renewables player in the world and the third-largest in the U.S. and Europe. The group's plants are mainly located in the U.S., Spain, Portugal, Poland, and Brazil.

EDP Renovaveis (XLIS:EDPR) Headlines

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