Norsk Hydro ASA (LTS:0Q11) Momentum Rank : 5 (As of Apr. 29, 2024)

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What is Norsk Hydro ASA Momentum Rank?

Norsk Hydro ASA 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 Norsk Hydro ASA's Momentum Rank

For the Aluminum subindustry, Norsk Hydro ASA'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.

Norsk Hydro ASA's Momentum Rank Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Norsk Hydro ASA's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Norsk Hydro ASA's Momentum Rank falls into.

Norsk Hydro ASA Momentum Rank Related Terms

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Norsk Hydro ASA (LTS:0Q11) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Norsk Hydro ASA (LTS:0Q11) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

NHYKF:USA NHYDY:USA NHYo:Sweden NHY:Norway NHYo:UK NOH1:Germany

Address

Postboks 980 Skøyen,, Oslo, NOR, NO-0240

Website

https://www.hydro.com

Norsk Hydro ASA is an aluminium and renewable energy company committed to a sustainable future. It's engaged in energy to bauxite mining and alumina refining, primary aluminium, aluminium extrusions, and aluminium recycling. The company's reportable segments are Hydro Bauxite & Alumina, Hydro Aluminium Metal, Hydro Extrusions, and Hydro Energy, as well as the Hydro Metal Markets activities. Hydro Extrusions delivers products within extrusion profiles, building systems, and precision tubing, and is operating several recycling facilities, both integrated with its extrusion plants and separate plants. Hydro Extrusions are present in about 40 countries. It is delivered to sectors such as construction, automotive and heating, etc. Key revenue comes from the Hydro Extrusions segment.

Norsk Hydro ASA (LTS:0Q11) Headlines

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