Canara Bank (BOM:532483) Momentum Rank : 10 (As of May. 17, 2024)

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What is Canara Bank Momentum Rank?

Canara Bank has the Momentum Rank of 10.

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 Canara Bank's Momentum Rank

For the Banks - Regional subindustry, Canara Bank'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.

Canara Bank's Momentum Rank Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Canara Bank's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Canara Bank's Momentum Rank falls into.

Canara Bank Momentum Rank Related Terms

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Canara Bank (BOM:532483) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Canara Bank (BOM:532483) » Definitions » Momentum Rank

Traded in Other Exchanges

CANBK:India

Address

No. 112, J C Road, Town Hall, Bengaluru, KA, IND, 560002

Website

https://www.canarabank.com

Canara Bank is an India-based commercial bank. The company's core businesses consist of Treasury Operations, Retail Banking Operations, and Corporate and Wholesale Banking Operations. It conducts a broad range of banking activities serving large and midsize corporations. Its priority sector and retail sector lending business offer funding services to the priority and retail sectors, such as loans to agriculture, housing, and educational institutions. The company owns a large branch network across India, with several branches in overseas cities such as New York, London, Hong Kong, and Dubai.

Canara Bank (BOM:532483) Headlines

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