Absolute Clean Energy PCL (BKK:ACE) Momentum Rank : 2 (As of May. 13, 2024)

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What is Absolute Clean Energy PCL Momentum Rank?

Absolute Clean Energy PCL has the Momentum Rank of 2.

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 Absolute Clean Energy PCL's Momentum Rank

For the Utilities - Renewable subindustry, Absolute Clean Energy PCL'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.

Absolute Clean Energy PCL's Momentum Rank Distribution in the Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Absolute Clean Energy PCL's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Absolute Clean Energy PCL's Momentum Rank falls into.

Absolute Clean Energy PCL Momentum Rank Related Terms

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Absolute Clean Energy PCL (BKK:ACE) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Independent Power Producers » Absolute Clean Energy PCL (BKK:ACE) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

140/6 ITF Tower 7th Floor Silom Road, Suriyawong, Bangrak, Bangkok, THA, 10500

Website

https://www.ace-energy.co.th

Absolute Clean Energy PCL is engaged in electricity and steam generating and distributing business both domestically and internationally. The company operates in four reportable segments biomass, natural gas, municipal solid waste, and solar energy power plants. It holds approximately 19 COD power plants and approximately 17 projects are being developed.

Absolute Clean Energy PCL (BKK:ACE) Headlines

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