InnoCan Pharma (XCNQ:INNO) Momentum Rank : 1 (As of May. 30, 2024)

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What is InnoCan Pharma Momentum Rank?

InnoCan Pharma has the Momentum Rank of 1.

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 InnoCan Pharma's Momentum Rank

For the Drug Manufacturers - Specialty & Generic subindustry, InnoCan Pharma'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.

InnoCan Pharma's Momentum Rank Distribution in the Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, InnoCan Pharma's Momentum Rank distribution charts can be found below:

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

InnoCan Pharma Momentum Rank Related Terms

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InnoCan Pharma (XCNQ:INNO) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » InnoCan Pharma Corp (XCNQ:INNO) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

INNPF:USA IP4:Germany

Address

1015, 926 - 5 Avenue SW, Calgary, AB, CAN, T2P 0N7

Website

https://www.innocanpharma.com

InnoCan Pharma Corp is a pharmaceutical tech company that focuses on the development of several drug delivery platforms combining cannabidiol with other pharmaceutical ingredients as well as the development and sale of CBD-integrated pharmaceuticals. Geographically, it derives a majority of its revenue from the United States.

Executives

William Colin Macdonald

Director

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