HXGBY (Hexagon AB) Momentum Rank : 5 (As of Jan. 18, 2025)

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What is Hexagon AB Momentum Rank?

Hexagon AB has the Momentum Rank of 5.

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 Hexagon AB's Momentum Rank

For the Scientific & Technical Instruments subindustry, Hexagon AB'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.

Hexagon AB's Momentum Rank Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Hexagon AB's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Hexagon AB's Momentum Rank falls into.

Hexagon AB Momentum Rank Related Terms

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Hexagon AB Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

HXGBF:USA HEXA B:Sweden HEXABs:UK 0GRX:UK HXG:Germany

Address

Lilla Bantorget 15, Stockholm, SWE, SE-111 23

Website

https://www.hexagon.com

Hexagon is the global leader in digital reality solutions, combining hardware such as sensors and measuring devices, software, and services. Customers are mainly in heavy industry such as oil and gas, mining, construction, manufacturing, chemicals, and agriculture. Major products include measuring technology, mapping tools, and software. Around 40% of revenue is generated in the Americas, 35% in Europe, the Middle East, and Africa region, and the rest in Asia.