Unity Bank (NSA:UBP) Momentum Rank : 0 (As of Jun. 10, 2024)

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What is Unity Bank Momentum Rank?

Unity Bank 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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Unity Bank (NSA:UBP) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Unity Bank PLC (NSA:UBP) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

Plot 42, Ahmed Onibudo Street, Victoria Island, Lagos, NGA

Website

http://www.unitybankng.com

Unity Bank PLC provides a range of retail, corporate, treasury and investment banking services in Nigeria. The Bank's offerings include Private banking, Digital Banking, Business banking, custody services, consumer loans & mortgages, structured financing, corporate leasing services among others. It has six Business segments Corporate Banking, Commercial Banking, Personal Banking, Private Banking, SME and Institutional Banking. The Bank operated Two geographical segments in addition to the Head Office which are: North and South Bank, of which it dervies majority revenue from North Bank.