REN-Redes Energeticas Nacionais Sgps (XLIS:RENE) Momentum Rank : 4 (As of May. 21, 2024)

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What is REN-Redes Energeticas Nacionais Sgps Momentum Rank?

REN-Redes Energeticas Nacionais Sgps 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 REN-Redes Energeticas Nacionais Sgps's Momentum Rank

For the Utilities - Diversified subindustry, REN-Redes Energeticas Nacionais Sgps'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.

REN-Redes Energeticas Nacionais Sgps's Momentum Rank Distribution in the Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, REN-Redes Energeticas Nacionais Sgps's Momentum Rank distribution charts can be found below:

* The bar in red indicates where REN-Redes Energeticas Nacionais Sgps's Momentum Rank falls into.

REN-Redes Energeticas Nacionais Sgps Momentum Rank Related Terms

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REN-Redes Energeticas Nacionais Sgps (XLIS:RENE) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Regulated » REN-Redes Energeticas Nacionais Sgps SA (XLIS:RENE) » Definitions » Momentum Rank

Traded in Other Exchanges

0KBT:UK RN4:Germany

Address

Avenida Estados Unidos da America, 55, Lisbon, PRT, 1749-061

Website

http://www.ren.pt

REN-Redes Energeticas Nacionais Sgps SA is an energy and utilities company designed for the transmission and distributing electricity and natural gas. The company offers services that manage national energy transmission and distribution systems that include the national electric transmission grid (RNT), the national natural gas transportation grid (RNTGN) and the portgás distribution grid, enabling the creation of an Iberian electricity market that will develop the hydrogen corridor in Europe, together with other European TSOs (Enagas, GRTgaz, Terega and OGE).