Baoshan Iron & Steel Co (SHSE:600019) Momentum Rank : 6 (As of May. 03, 2024)

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What is Baoshan Iron & Steel Co Momentum Rank?

Baoshan Iron & Steel Co 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 Baoshan Iron & Steel Co's Momentum Rank

For the Steel subindustry, Baoshan Iron & Steel Co'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.

Baoshan Iron & Steel Co's Momentum Rank Distribution in the Steel Industry

For the Steel industry and Basic Materials sector, Baoshan Iron & Steel Co's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Baoshan Iron & Steel Co's Momentum Rank falls into.

Baoshan Iron & Steel Co Momentum Rank Related Terms

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Baoshan Iron & Steel Co (SHSE:600019) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Baoshan Iron & Steel Co Ltd (SHSE:600019) » Definitions » Momentum Rank

Traded in Other Exchanges

N/A

Address

No. 885 Fujin Road, Baosteel Command Center, Baoshan District, Shanghai, CHN, 201900

Website

http://www.baosteel.com

Baosteel is the listed entity of the largest steel group in China. Its steel businesses--which include steel manufacturing, processing, and distribution--account for roughly 95% of its revenue. The remainder consists of information technology, chemical, finance, and e-commerce activities. The firm focuses on flat steel and commands more than 50% of the domestic China cold-rolled automotive sheet market, roughly 80% of the China grain-oriented electrical steel market, and a third of the non-oriented electrical steel market.

Baoshan Iron & Steel Co (SHSE:600019) Headlines

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