Neste OYJ (MIL:1NESTE) Momentum Rank : 0 (As of Jun. 06, 2024)

View and export this data going back to 2023. Start your Free Trial

What is Neste OYJ Momentum Rank?

Neste OYJ 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.

Neste OYJ Momentum Rank Related Terms

Thank you for viewing the detailed overview of Neste OYJ's Momentum Rank provided by GuruFocus.com. Please click on the following links to see related term pages.

Neste OYJ (MIL:1NESTE) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Neste OYJ (MIL:1NESTE) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

NTOIY:USA NTOIF:USA NESTE:Mexico NESTEh:UK 0O46:UK NESTE:Finland NEF:Germany

Address

Keilaranta 21, P.O. Box 95, Neste, Espoo, FIN, 00095

Website

https://www.neste.com

Neste OYJ Formerly Neste Corp. offers renewable products and solutions and oil products to a host of global markets. Its business is divided into various segments, including oil products, renewable products, marketing and services and others. Oil products is the largest contributor of revenue; it caters to oil companies and businesses that market oil, lubricants, and fuel products. Neste's oil products business includes diesel fuels, gasoline, aviation and marine fuels, and light and heavy fuel oils. Neste is heavily involved in the Baltic region with its network of service stations and refineries.

Neste OYJ (MIL:1NESTE) Headlines

No Headlines