Unior Kovaska industrija DD (XLJU:UKIG) Momentum Rank : 0 (As of Jun. 10, 2024)

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What is Unior Kovaska industrija DD Momentum Rank?

Unior Kovaska industrija DD 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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Unior Kovaska industrija DD (XLJU:UKIG) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Unior Kovaska industrija DD (XLJU:UKIG) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

Kovaska cesta 10, Zrece, SVN, 3214

Website

https://www.unior.si

Unior Kovaska industrija DD is a Slovenia-based company engaged in manufacturing forged parts, hand tools, and machine tools. It has five business segments. The Forge Programme segment develops, forges, sinters, and processes products and assemblies for the automotive industry and other buyers. Through the Hand Tools Programme segment, the company applies updated technological findings in the production of hand tools. The Special Machines Programme segment consists of the development and construction of specific-purpose CNC machine tools which are intended for the treatment of steel and aluminium blanks or blanks of other castings. Its other segments include Joint services and Maintenance. The majority of the revenue is derived from the Forge Programme in international countries.

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