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AVADA Group (ASX:AVD) Momentum Rank : 0 (As of Jun. 06, 2024)


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What is AVADA Group Momentum Rank?

AVADA Group 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.

AVADA Group Momentum Rank Related Terms

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AVADA Group (ASX:AVD) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Industrials » Construction » AVADA Group Ltd (ASX:AVD) » Definitions » Momentum Rank
Comparable Companies
OSTO:STIL OSTO:BOUL OSTO:MNTC OSTO:CMH XSAT:AUDNTS XSAT:REDS ASX:TCL XMAD:FER SZSE:001965 DFM:SALIK SHSE:600377 XPAR:RE ASX:ALX BSP:CCRO3 SHSE:600350 VRRM HKSE:00576 SHSE:600548 BOM:532947 SZSE:000429
Traded in Other Exchanges
N/A
Address
116 Ipswich Road, Suite 1, Level 2, Woolloongabba, QLD, AUS, 4102
Website
https://www.avadagroup.com.au
AVADA Group Ltd is an Australian traffic management operator and ancillary service provider with an established network throughout Queensland and New South Wales. The group has two reportable segments: Queensland Traffic Management and New South Wales Traffic Management. Queensland Traffic Management is the key revenue generator for the group. It provides services to government clients and major contractors in the civil infrastructure and maintenance sector.