Jung Shing Wire Co (TPE:1617) Momentum Rank : 3 (As of Jun. 09, 2024)

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What is Jung Shing Wire Co Momentum Rank?

Jung Shing Wire Co has the Momentum Rank of 3.

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 Jung Shing Wire Co's Momentum Rank

For the Electronics & Computer Distribution subindustry, Jung Shing Wire 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.

Jung Shing Wire Co's Momentum Rank Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Jung Shing Wire Co's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Jung Shing Wire Co's Momentum Rank falls into.

Jung Shing Wire Co Momentum Rank Related Terms

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Jung Shing Wire Co (TPE:1617) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Hardware » Jung Shing Wire Co Ltd (TPE:1617) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

No 231, Sec.3, Chung-Cheng Road, Jen-teh District, Tainan City, TWN, 717

Website

http://www.jswire.com.tw

Jung Shing Wire Co Ltd is engaged in the manufacturing of general enameled wire, self-melting enameled wire, and special enameled wire. The Group has a reporting segment: The wire department, which manufactures various kinds of degaussing rings, enameled wire, and Litz wire.

Jung Shing Wire Co (TPE:1617) Headlines

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