Mirle Automation Co (TPE:2464) Momentum Rank : 6 (As of May. 28, 2024)

View and export this data going back to 2001. Start your Free Trial

What is Mirle Automation Co Momentum Rank?

Mirle Automation Co has the Momentum Rank of 6.

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 Mirle Automation Co's Momentum Rank

For the Specialty Industrial Machinery subindustry, Mirle Automation 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.

Mirle Automation Co's Momentum Rank Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Mirle Automation Co's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Mirle Automation Co's Momentum Rank falls into.

Mirle Automation Co Momentum Rank Related Terms

Thank you for viewing the detailed overview of Mirle Automation Co's Momentum Rank provided by GuruFocus.com. Please click on the following links to see related term pages.

Mirle Automation Co (TPE:2464) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Mirle Automation Co Ltd (TPE:2464) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

No.3, R&D Road II, Science Park, Hsinchu, TWN, 30076

Website

https://www.mirle.com.tw

Mirle Automation Co Ltd is one of the leaders in automation system integrators and related product manufacturers. The Corporation is mainly engaged in the business of automation equipment systems and its components various parking facilities, medical equipment and the design, development, production and sale of the automation equipment used in these products, and also provides after-sales services for the products. It is also engaged in the leasing business and develops and sells software and databases that are used in automation equipment. Moreover, the corporation also provides construction planning, installation, consulting, and maintenance services for the above products.

Mirle Automation Co (TPE:2464) Headlines

No Headlines