China First Heavy Industries Co (SHSE:601106) Momentum Rank : 4 (As of May. 03, 2024)

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What is China First Heavy Industries Co Momentum Rank?

China First Heavy Industries Co has the Momentum Rank of 4.

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.

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Competitive Comparison of China First Heavy Industries Co's Momentum Rank

For the Metal Fabrication subindustry, China First Heavy Industries Co'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.

China First Heavy Industries Co's Momentum Rank Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, China First Heavy Industries Co's Momentum Rank distribution charts can be found below:

* The bar in red indicates where China First Heavy Industries Co's Momentum Rank falls into.

China First Heavy Industries Co Momentum Rank Related Terms

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China First Heavy Industries Co (SHSE:601106) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » China First Heavy Industries Co Ltd (SHSE:601106) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

Changqian Road Number 9, Fularji, Qiqihar, Heilongjiang, CHN, 161042

Website

http://www.cfhi.com

China First Heavy Industries Co Ltd manufactures and sells heavy-duty equipment in the People's Republic of China and internationally. It offers energy equipment, including civilian nuclear energy, petrol-chemistry, coal chemistry, common chemistry, ocean engineering, seawater desalination, mining excavator and transportation, and offshore high power generating equipment.

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