Meridian Energy (Meridian Energy) Momentum Rank : 3 (As of Jun. 08, 2024)

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What is Meridian Energy Momentum Rank?

Meridian Energy has the Momentum Rank of 3.

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 Meridian Energy's Momentum Rank

For the Utilities - Renewable subindustry, Meridian Energy'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.

Meridian Energy's Momentum Rank Distribution in the Utilities - Independent Power Producers Industry

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

* The bar in red indicates where Meridian Energy's Momentum Rank falls into.

Meridian Energy Momentum Rank Related Terms

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Meridian Energy (Meridian Energy) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Independent Power Producers » Meridian Energy Ltd (OTCPK:MDDNF) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

MEL:New Zealand 15M1:Germany MEZ:Australia

Address

287-293 Durham Street North, Christchurch Central, Christchurch, STL, NZL, 8013

Website

https://www.meridianenergy.co.nz

Meridian is New Zealand's largest electricity generator, operating hydro stations and wind farms in New Zealand. Nearly 90% of its electricity is generated from low-cost hydro power plants, with wind making up the rest. The company's main competitors are vertically integrated firms, such as Mercury NZ, Genesis Energy, Contact Energy, and Trustpower.