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Eneco Refresh (ASX:ERG) Momentum Rank : 0 (As of Jun. 01, 2024)


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What is Eneco Refresh Momentum Rank?

Eneco Refresh 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.

Eneco Refresh Momentum Rank Related Terms

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Eneco Refresh (ASX:ERG) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Beverages - Non-Alcoholic » Eneco Refresh Ltd (ASX:ERG) » Definitions » Momentum Rank
Comparable Companies
ASX:TLC ASX:QUB ASX:MIN ASX:PPT ASX:PFP ASX:CMP ASX:LGI ASX:CAR ASX:TWE ASX:ABB KO PEP HKSE:09633 MNST KDP LSE:CCEP NSE:VBL CELH COCSF AC
Traded in Other Exchanges
N/A
Address
17 Denninup Way, Malaga, Perth, WA, AUS, 6090
Website
https://www.eneco-refresh.com.au
Eneco Refresh Ltd is engaged in the production and distribution of bottled water and accessories. The company is also the producer of distilled drinking water and also distributes filtration systems and water purifiers. It also markets a broad range of plastic products including containers and jars, bottles, gardening products, automotive parts, and toys.

Eneco Refresh (ASX:ERG) Headlines

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