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Evolution AB (OSTO:EVO) Momentum Rank : 0 (As of May. 21, 2024)


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What is Evolution AB Momentum Rank?

Evolution 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.

Evolution AB Momentum Rank Related Terms

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Evolution AB (OSTO:EVO) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » Evolution AB (OSTO:EVO) » Definitions » Momentum Rank
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Traded in Other Exchanges
EVGGF:USA EVVTY:USA EVO:Mexico EVOs:UK 0RQ6:UK E3G1:Germany
Address
Hamngatan 11, Stockholm, SWE, SE-111 47
Website
https://www.evolution.com
Evolution AB is a B2B provider of live and slots casino systems. The Company develops, produces, markets, and licenses fully integrated online casino systems to gaming operators. The company provides business-to-business solutions, which it develops and produces for gaming operators. Evolution's primary product, Live Casino, allows a human dealer to run a real-time casino table, which is then streamed to digital devices. Players can then place bets on desktops, smartphones, and tablets and communicate with the dealer through Evolution's software. The company's services are licensed to casino operators. The company generates the vast majority of its revenue from Asia.