Alka India (BOM:530889) Momentum Rank : 2 (As of Jun. 06, 2024)

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What is Alka India Momentum Rank?

Alka India 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 Alka India's Momentum Rank

For the Textile Manufacturing subindustry, Alka India'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.

Alka India's Momentum Rank Distribution in the Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Alka India's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Alka India's Momentum Rank falls into.

Alka India Momentum Rank Related Terms

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Alka India (BOM:530889) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Manufacturing - Apparel & Accessories » Alka India Ltd (BOM:530889) » Definitions » Momentum Rank

Traded in Other Exchanges

N/A

Address

New Link Road,Morya Landmark II, Unit No. 102, 1st Floor, Near Infinity Mall, Andheri (West), Mumbai, MH, IND, 400053

Website

https://www.alkaindia.in

Alka India Ltd is a textile manufacturing company carrying on the business activities of importing, exporting, purchasing, selling, and dealing in all types of yarns, cloth, fibers, fabrics, and textiles made from cotton, rayon, nylon, and silk.

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