Evogene (XTAE:EVGN) Momentum Rank : 0 (As of Apr. 30, 2024)

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What is Evogene Momentum Rank?

Evogene 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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Evogene (XTAE:EVGN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Evogene Ltd (XTAE:EVGN) » Definitions » Momentum Rank

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Traded in Other Exchanges

EVGN:USA

Address

13 Gad Feinstein Street, Park Rehovot, P.O. Box 4173, Ness Ziona, Rehovot, ISR, 7414002

Website

https://www.evogene.com

Evogene Ltd is a computational biology company targeting to revolutionize product development for life-science based industries, including human health, agriculture, and industrial applications. The company established its technology, the Computational Predictive Biology (CPB) platform. The CPB platform is designed to computationally discover and develop life-science products based on microbes, small molecules and genetic elements as the core components for such products. It holds a number of subsidiaries utilizing the CPB platform, for the development of human microbiome-based therapeutics, medical cannabis, ag-biologicals, ag-chemicals, seed traits and ag-solutions for castor oil production. It generates maximum revenue from the Agriculture segment.