Esfahans Mobarakeh Steel Co (XTEH:FOLD1) Momentum Rank : 0 (As of Jun. 08, 2024)

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What is Esfahans Mobarakeh Steel Co Momentum Rank?

Esfahans Mobarakeh Steel Co 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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Esfahans Mobarakeh Steel Co (XTEH:FOLD1) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Esfahans Mobarakeh Steel Co (XTEH:FOLD1) » Definitions » Momentum Rank

Traded in Other Exchanges

N/A

Address

Sa'adat Abad Street, P.O.BOX: 161-84815, Azadi Square, Esfahan, IRN, 11131-84881

Website

http://www.msc.ir

Esfahans Mobarakeh Steel Co is an Iran-based company engaged in producing steel in the Middle East and Northern Africa. Its products include hot rolled products, cold rolled products, coated products including galvanized, tinned and pre-painted products. The company's products are used in various industries, such as automotive, construction, household appliances, and packaging. It also exports its products to Belgium, France, Italy, Spain, Qatar, Saudi Arabia, the United Arab Emirates, Kuwait, Iraq, Oman, Jordan, Armenia, and Georgia.

Esfahans Mobarakeh Steel Co (XTEH:FOLD1) Headlines

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