Chongqing Shunbo Aluminum Co (SZSE:002996) Momentum Rank : 4 (As of Jun. 06, 2024)

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What is Chongqing Shunbo Aluminum Co Momentum Rank?

Chongqing Shunbo Aluminum 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.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

Competitive Comparison of Chongqing Shunbo Aluminum Co's Momentum Rank

For the Aluminum subindustry, Chongqing Shunbo Aluminum 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.

Chongqing Shunbo Aluminum Co's Momentum Rank Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Chongqing Shunbo Aluminum Co's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Chongqing Shunbo Aluminum Co's Momentum Rank falls into.

Chongqing Shunbo Aluminum Co Momentum Rank Related Terms

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Chongqing Shunbo Aluminum Co (SZSE:002996) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Chongqing Shunbo Aluminum Co Ltd (SZSE:002996) » Definitions » Momentum Rank

Traded in Other Exchanges

N/A

Address

Caojie Development Park, Hechuan District, Chongqing, CHN, 402760

Website

http://www.soonbest.com

Chongqing Shunbo Aluminum Co Ltd formerly known as Chongqing Soonbest Aluminum Alloy Co Ltd is engaged in production and sales of secondary aluminum alloy ingots. The company produces and sells aluminum alloy ingots for auto parts, motorcycle parts; metal materials, mechanical and electrical products, building materials, industrial silicon.

Executives

Wang Zeng Chao	Directors, executives
Wang Qi	Director
Wang Zhen Jian	Director
Luo Le	Supervisors
Wang Hui	Directors, Directors, and Executives

Chongqing Shunbo Aluminum Co (SZSE:002996) Headlines

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