Octaware Technologies (BOM:540416) Momentum Rank : 10 (As of May. 29, 2024)

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What is Octaware Technologies Momentum Rank?

Octaware Technologies 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 Octaware Technologies's Momentum Rank

For the Software - Application subindustry, Octaware Technologies'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.

Octaware Technologies's Momentum Rank Distribution in the Software Industry

For the Software industry and Technology sector, Octaware Technologies's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Octaware Technologies's Momentum Rank falls into.

Octaware Technologies Momentum Rank Related Terms

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Octaware Technologies (BOM:540416) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Octaware Technologies Ltd (BOM:540416) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

Makwana Road, Off Andheri-Kurla, 204, Timmy Arcade, Marol, Andheri (East), Mumbai, MH, IND, 400 059

Website

https://www.octaware.com

Octaware Technologies Ltd is a software development, enterprise solutions and consulting firm. It serves healthcare, finance, government, education, real estate and construction and other industries. The company services include Enterprise Portal, ERP and CRM Implementation, Software Architecture, Software Development Services, Mobile Solutions, Cloud, Security and IT Infrastructure Services, Geospatial Services and others. Some of its product includes PowerERM; Hospice; iOnAsset; Intelli Trade and others. It also has a presence in the USA, Singapore, UAE, Qatar, Saudi Arabia, and India. Revenue is generated from the sale of services.

Octaware Technologies (BOM:540416) Headlines

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