Neo Performance Materials (TSX:NEO) Momentum Rank : 4 (As of May. 29, 2024)

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What is Neo Performance Materials Momentum Rank?

Neo Performance Materials 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 Neo Performance Materials's Momentum Rank

For the Specialty Chemicals subindustry, Neo Performance Materials'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.

Neo Performance Materials's Momentum Rank Distribution in the Chemicals Industry

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

* The bar in red indicates where Neo Performance Materials's Momentum Rank falls into.

Neo Performance Materials Momentum Rank Related Terms

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Neo Performance Materials (TSX:NEO) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Neo Performance Materials Inc (TSX:NEO) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

NOPMF:USA N14:Germany

Address

121 King Street West, Suite 1740, Toronto, ON, CAN, M5H 3T9

Website

https://www.neomaterials.com

Neo Performance Materials Inc is engaged in the innovation, development, processing, and manufacturing of rare earth and rare metal-based functional materials. Its operating segments include Magnequench, Chemicals & Oxides, Rare Metals, and Corporate. The Magnequench segment produces magnetic powders used in bonded and hot-deformed, fully dense neodymium-iron-boron magnets. The Chemicals & Oxides segment manufactures and distributes a broad range of industrial materials. The Rare Metals segment produces specialty metals and their compounds, such as tantalum, niobium, hafnium, rhenium, gallium, and indium. Its geographical segments are Asia, North America, Europe, and Others.

Executives

Rahim Suleman

Director, Senior Officer