Hitech & Development Wireless Sweden Holding AB (OSTO:HDW B) Momentum Rank : 0 (As of Jun. 10, 2024)

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What is Hitech & Development Wireless Sweden Holding AB Momentum Rank?

Hitech & Development Wireless Sweden Holding AB 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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Hitech & Development Wireless Sweden Holding AB (OSTO:HDW B) Business Description

Industry

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Traded in Other Exchanges

858:Germany

Address

Kista Science Tower, Farogatan 33, Kista, SWE, 164 51

Website

http://www.hd-wireless.se

Hitech & Development Wireless Sweden Holding AB is engaged in the development, manufacturiing, sale of electronics and computer equipment in specialized disability utilities, automotive electronics, radio communications and sensor technology. It provides connectivity modules for IoT, Industrial and Digital media markets.

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