Acacia Coal (ASX:SPN) Momentum Rank : 0 (As of Apr. 29, 2024)

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What is Acacia Coal Momentum Rank?

Acacia Coal has the Momentum Rank of 0.

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.

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Acacia Coal (ASX:SPN) Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

N/A

Address

Ground Floor, 16 Ord Street, West Perth, Perth, NSW, AUS, 6005

Website

http://www.acaciacoal.com.au

Acacia Coal Ltd is engaged in coal exploration and mine development company. It is engaged in the exploration and project development of the Riverside Anthracite (RAC) project. The RAC project is located at the southern portion of the Vryheid Coalfield near the magisterial district of Vryheid in Kwa-Zulu Natal, South Africa. It also has two exploration projects namely Mt Bruce Project and the Mt Windarra Project located in the Pilbara and Goldfields regions of Western Australia which are prospective for cobalt, copper, and nickel.

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