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Goobit Group AB (OSTO:BTCX) Momentum Rank : 0 (As of Jun. 14, 2024)


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What is Goobit Group AB Momentum Rank?

Goobit Group 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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Goobit Group AB (OSTO:BTCX) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Financial Services » Capital Markets » Goobit Group AB (OSTO:BTCX) » Definitions » Momentum Rank
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ISX:CASH ISX:DGNS ISX:SBMA ISX:SICO ISX:TOOL ISX:LAJU ISX:TYRE ISX:BABY ISX:SAPX ISX:ITIC SPGI CME ICE MCO LSE:LSEG HKSE:00388 MSCI SZSE:300059 XTER:DB1 NDAQ
Traded in Other Exchanges
9AI:Germany
Address
Stora Nygatan 28, Stockholm, SWE, 111 27
Website
https://www.goobit.se
Goobit Group AB is a crypto exchange company. It offers exchange services of Swedish kronor and euros to the digital currencies bitcoin and ether, and has so far exchanged over SEK 1.7 billion. The company's brands are BTCX Express and Standard BTCX.

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