In the initial announcement of his discovery, Art Hoag proposed the hypothesis that the visible ring was a product of gravitational lensing. This idea was later discarded because the nucleus and the ring have the same redshift, and because more advanced telescopes revealed the knotty structure of the ring, something that would not be visible if the ring were the product of gravitational lensing.
Many of the details of the galaxy remain a mystery, foremost of which is how it formed. So-called "classic" ring galaxies are generally formed by the collision of a small galaxy with a larger disk-shaped galaxy. This collision produces a density wave in the disk which leads to a characteristic ring-like appearance. Such an event would have happened at least 2Ð3 billion years in the past,[citation needed] and may have resembled the processes that form polar-ring galaxies. However, there is no sign of any second galaxy that would have acted as the "bullet", and the core of Hoag's Object has a very low velocity relative to the ring, making the typical formation hypothesis quite