RPM Automotive Group (ASX:RPM) Momentum Rank : 0 (As of Jun. 01, 2024)

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What is RPM Automotive Group Momentum Rank?

RPM Automotive 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.

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RPM Automotive Group (ASX:RPM) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » RPM Automotive Group Ltd (ASX:RPM) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

1-7 Ausco Place, Dandenong South, Melbourne, VIC, AUS, 3175

Website

https://www.rpmgroup.net.au

RPM Automotive Group Ltd is an Australian based automotive group. The company's segment includes Motorsport; Repairs and Roadside; Wheels and Tyres and Accessories. It generates maximum revenue from the Repairs and Roadside segment.