Kyoei Steel (TSE:5440) Momentum Rank : 8 (As of Jun. 03, 2024)

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What is Kyoei Steel Momentum Rank?

Kyoei Steel has the Momentum Rank of 8.

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 Kyoei Steel's Momentum Rank

For the Steel subindustry, Kyoei Steel'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.

Kyoei Steel's Momentum Rank Distribution in the Steel Industry

For the Steel industry and Basic Materials sector, Kyoei Steel's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Kyoei Steel's Momentum Rank falls into.

Kyoei Steel Momentum Rank Related Terms

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Kyoei Steel (TSE:5440) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Kyoei Steel Ltd (TSE:5440) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

Issue 16 No. 4-chome, Kita-ku, Dojimahama, Osaka, JPN, 5300004

Website

http://www.kyoeisteel.co.jp

Kyoei Steel Ltd is involved in the business Steel and Material recycling. Its primary activities include manufacture, processing, and sale of steel billets and products, collection, transportation and treatment of general, industrial and medical waste, recycling of automobiles and industrial waste, processing assembly of rebars, designing of steel production plants and sale of steelmaking technology. The firm's products include concrete steel bars, flat bars, I-beams, equal angle bars etc.

Kyoei Steel (TSE:5440) Headlines

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