Litgrid AB (OVSE:LGD1L) Momentum Rank : 0 (As of Jun. 09, 2024)

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What is Litgrid AB Momentum Rank?

Litgrid 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.

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Litgrid AB (OVSE:LGD1L) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Regulated » Litgrid AB (OVSE:LGD1L) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

Karlo Gustavo Emilio Manerheimo street 8, Vilnius, LTU, LT-05131

Website

https://www.litgrid.eu

Litgrid AB is an operator of an electricity transmission system operating electricity transmissions in Lithuania. It is responsible for integrating the national power system into the European power infrastructure and electricity market. The business activity of the group functions under various segments namely Electricity transmission and related services activities, and Other income. Geographically, the business presence of the firm is seen in the regions of Lithuania, Norway, Sweden, Latvia, Estonia and others of which the Lithuania region accounts for the majority of the revenue.

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