Ajooni Biotech (NSE:AJOONI) Momentum Rank : 7 (As of May. 24, 2024)

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What is Ajooni Biotech Momentum Rank?

Ajooni Biotech has the Momentum Rank of 7.

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 Ajooni Biotech's Momentum Rank

For the Packaged Foods subindustry, Ajooni Biotech'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.

Ajooni Biotech's Momentum Rank Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Ajooni Biotech's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Ajooni Biotech's Momentum Rank falls into.

Ajooni Biotech Momentum Rank Related Terms

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Ajooni Biotech (NSE:AJOONI) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » Ajooni Biotech Ltd (NSE:AJOONI) » Definitions » Momentum Rank

Traded in Other Exchanges

N/A

Address

D-118, Industrial Area, Phase VII, Mohali, PB, IND, 160055

Website

https://www.ajoonibiotech.com

Ajooni Biotech Ltd is engaged in the production of animal feed. The company's products of cattle feed include Nurture Calf Starter, Winner 10ltr, Hiffer/Grower, Energy Plus, Eco- 5ltr, Milk Booster, & Buff Power, and its feed supplements include Autovita, Livtus, Caltus, Rumitus, and other products. It derives majority portion of the revenue from the manufacturing of cattle feed. The company operates only in India.

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