EcoSynthetix (TSX:ECO) Momentum Rank : 6 (As of May. 31, 2024)

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What is EcoSynthetix Momentum Rank?

EcoSynthetix 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 EcoSynthetix's Momentum Rank

For the Specialty Chemicals subindustry, EcoSynthetix'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.

EcoSynthetix's Momentum Rank Distribution in the Chemicals Industry

For the Chemicals industry and Basic Materials sector, EcoSynthetix's Momentum Rank distribution charts can be found below:

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

EcoSynthetix Momentum Rank Related Terms

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EcoSynthetix (TSX:ECO) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » EcoSynthetix Inc (TSX:ECO) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

ECSNF:USA

Address

3365 Mainway, Burlington, ON, CAN, L7M 1A6

Website

http://www.ecosynthetix.com

EcoSynthetix Inc is a renewable chemicals company. It is engaged in the development and commercialization of ecologically friendly bio-based technologies as replacement solutions for synthetic, petrochemical-based adhesives and other related products. The company operates in one reportable segment and generates revenue primarily from its biopolymer nanosphere technology platform. Its products include EcoSphere biolatex and DuraBindTM biopolymers. EcoSphere biolatex binders are used by manufacturers within the coated paper and paperboard industry, whereas the DuraBindTM is used in the production of wood composite panels. Geographically it has a business presence in the America, Africa (EMEA), and the Asia Pacific.

Executives

Robert Martin Haire

Senior Officer