EMSTEEL Building Materials PJSC (ADX:EMSTEEL) Momentum Rank : 0 (As of Oct. 09, 2024)

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What is EMSTEEL Building Materials PJSC Momentum Rank?

EMSTEEL Building Materials PJSC 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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EMSTEEL Building Materials PJSC Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » EMSTEEL Building Materials PJSC (ADX:EMSTEEL) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

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Address

Abu Dhabi Industrial City (ICAD), PO Box: 9022, Musaffah, Abu Dhabi, ARE

Website

https://www.emiratessteelarkan.com

EMSTEEL Building Materials PJSC is a steel and building materials manufacturer. The Group incorporates the latest innovative technologies in manufacturing, efficiency and sustainability, to deliver the high-quality products, services and solutions that clients need for their business to thrive today and tomorrow. It produces home-grown high-quality steel products that are shipped and used across the world and delivered into major global markets, for the construction, engineering and energy sectors. Additionally, the Group produces premium cement, blocks, pipes, and dry mortar, creating a one-stop shop for the manufacturing and construction sectors.

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