Abu Dhabi Islamic Bank - Egypt (CAI:ADIB) Momentum Rank : 0 (As of Jun. 09, 2024)

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What is Abu Dhabi Islamic Bank - Egypt Momentum Rank?

Abu Dhabi Islamic Bank - Egypt 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.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

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Abu Dhabi Islamic Bank - Egypt (CAI:ADIB) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Abu Dhabi Islamic Bank - Egypt (CAI:ADIB) » Definitions » Momentum Rank

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Traded in Other Exchanges

N/A

Address

9A Rustom Street, Garden City, Cairo, EGY, 11511

Website

https://www.adib.eg

Abu Dhabi Islamic Bank - Egypt is engaged in the provision of banking services. The bank operates in the following segments :Large, medium and small enterprises, Investment, Retail, and other activities. It provides personal banking solutions comprising of current, SMART, tiered monthly saving account, wealth management services, bancassurance, and various credit and debit card facilities. Additionally, the bank renders corporate finance, and treasury services comprising of foreign exchange, sharia-compliant products, and market analysis. Further, it also grants Islamic options for the letter of guarantee and letter of credit.

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