Sphere 3D Stock Forecast - Double Exponential Smoothing
| ANY Stock | USD 1.09 0.03 2.83% |
The Double Exponential Smoothing forecasted value of Sphere 3D Corp on the next trading day is expected to be 1.06 with a mean absolute deviation of 0.11 and the sum of the absolute errors of 6.57. Sphere Stock Forecast is based on your current time horizon. Investors can use this forecasting interface to forecast Sphere 3D stock prices and determine the direction of Sphere 3D Corp's future trends based on various well-known forecasting models. We recommend always using this module together with an analysis of Sphere 3D's historical fundamentals, such as revenue growth or operating cash flow patterns. Although Sphere 3D's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Sphere 3D's systematic risk associated with finding meaningful patterns of Sphere 3D fundamentals over time.
Check out Historical Fundamental Analysis of Sphere 3D to cross-verify your projections. Sphere |
Open Interest Against 2024-04-19 Sphere Option Contracts
Although open interest is a measure utilized in the options markets, it could be used to forecast Sphere 3D's spot prices because the number of available contracts in the market changes daily, and new contracts can be created or liquidated at will. Since open interest in Sphere 3D's options reflects these daily shifts, investors could use the patterns of these changes to develop long and short-term trading strategies for Sphere 3D stock based on available contracts left at the end of a trading day.
Please note that to derive more accurate forecasting about market movement from the current Sphere 3D's open interest, investors have to compare it to Sphere 3D's spot prices. As Ford's stock price increases, high open interest indicates that money is entering the market, and the market is strongly bullish. Conversely, if the price of Sphere 3D is decreasing and there is high open interest, that is a sign that the bearish trend will continue, and investors may react by taking short positions in Sphere. So, decreasing or low open interest during a bull market indicates that investors are becoming uncertain of the depth of the bullish trend, and a reversal in sentiment will likely follow.
Most investors in Sphere 3D cannot accurately predict what will happen the next trading day because, historically, stock markets tend to be unpredictable and even illogical. Modeling turbulent structures requires applying different statistical methods, techniques, and algorithms to find hidden data structures or patterns within the Sphere 3D's time series price data and predict how it will affect future prices. One of these methodologies is forecasting, which interprets Sphere 3D's price structures and extracts relationships that further increase the generated results' accuracy.
Double exponential smoothing - also known as Holt exponential smoothing is a refinement of the popular simple exponential smoothing model with an additional trending component. Double exponential smoothing model for Sphere 3D works best with periods where there are trends or seasonality. Sphere 3D Double Exponential Smoothing Price Forecast For the 20th of April
Given 90 days horizon, the Double Exponential Smoothing forecasted value of Sphere 3D Corp on the next trading day is expected to be 1.06 with a mean absolute deviation of 0.11, mean absolute percentage error of 0.02, and the sum of the absolute errors of 6.57.Please note that although there have been many attempts to predict Sphere Stock prices using its time series forecasting, we generally do not recommend using it to place bets in the real market. The most commonly used models for forecasting predictions are the autoregressive models, which specify that Sphere 3D's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Sphere 3D Stock Forecast Pattern
| Backtest Sphere 3D | Sphere 3D Price Prediction | Buy or Sell Advice |
Sphere 3D Forecasted Value
In the context of forecasting Sphere 3D's Stock value on the next trading day, we examine the predictive performance of the model to find good statistically significant boundaries of downside and upside scenarios. Sphere 3D's downside and upside margins for the forecasting period are 0.01 and 8.92, respectively. We have considered Sphere 3D's daily market price to evaluate the above model's predictive performance. Remember, however, there is no scientific proof or empirical evidence that traditional linear or nonlinear forecasting models outperform artificial intelligence and frequency domain models to provide accurate forecasts consistently.
Model Predictive Factors
The below table displays some essential indicators generated by the model showing the Double Exponential Smoothing forecasting method's relative quality and the estimations of the prediction error of Sphere 3D stock data series using in forecasting. Note that when a statistical model is used to represent Sphere 3D stock, the representation will rarely be exact; so some information will be lost using the model to explain the process. AIC estimates the relative amount of information lost by a given model: the less information a model loses, the higher its quality.| AIC | Akaike Information Criteria | Huge |
| Bias | Arithmetic mean of the errors | -0.0104 |
| MAD | Mean absolute deviation | 0.1114 |
| MAPE | Mean absolute percentage error | 0.0588 |
| SAE | Sum of the absolute errors | 6.5733 |
Predictive Modules for Sphere 3D
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Sphere 3D Corp. Regardless of method or technology, however, to accurately forecast the stock market is more a matter of luck rather than a particular technique. Nevertheless, trying to predict the stock market accurately is still an essential part of the overall investment decision process. Using different forecasting techniques and comparing the results might improve your chances of accuracy even though unexpected events may often change the market sentiment and impact your forecasting results.Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Sphere 3D's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Other Forecasting Options for Sphere 3D
For every potential investor in Sphere, whether a beginner or expert, Sphere 3D's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Sphere Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Sphere. Basic forecasting techniques help filter out the noise by identifying Sphere 3D's price trends.Sphere 3D Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Sphere 3D stock to make a market-neutral strategy. Peer analysis of Sphere 3D could also be used in its relative valuation, which is a method of valuing Sphere 3D by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Sphere 3D Corp Technical and Predictive Analytics
The stock market is financially volatile. Despite the volatility, there exist limitless possibilities of gaining profits and building passive income portfolios. With the complexity of Sphere 3D's price movements, a comprehensive understanding of forecasting methods that an investor can rely on to make the right move is invaluable. These methods predict trends that assist an investor in predicting the movement of Sphere 3D's current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
Sphere 3D Market Strength Events
Market strength indicators help investors to evaluate how Sphere 3D stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Sphere 3D shares will generate the highest return on investment. By undertsting and applying Sphere 3D stock market strength indicators, traders can identify Sphere 3D Corp entry and exit signals to maximize returns.
Sphere 3D Risk Indicators
The analysis of Sphere 3D's basic risk indicators is one of the essential steps in accurately forecasting its future price. The process involves identifying the amount of risk involved in Sphere 3D's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting sphere stock prices, we also provide a set of basic risk indicators that can assist in the individual investment decision or help in hedging the risk of your existing portfolios.
| Mean Deviation | 5.88 | |||
| Standard Deviation | 7.78 | |||
| Variance | 60.55 |
Please note, the risk measures we provide can be used independently or collectively to perform a risk assessment. When comparing two potential investments, we recommend comparing similar equities with homogenous growth potential and valuation from related markets to determine which investment holds the most risk.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Sphere 3D in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Sphere 3D's short interest history, or implied volatility extrapolated from Sphere 3D options trading.
Pair Trading with Sphere 3D
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Sphere 3D position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Sphere 3D will appreciate offsetting losses from the drop in the long position's value.Moving together with Sphere Stock
| 0.87 | U | Unity Software Financial Report 8th of May 2024 | PairCorr |
| 0.62 | DT | Dynatrace Holdings LLC Buyout Trend | PairCorr |
Moving against Sphere Stock
| 0.85 | ML | MoneyLion Financial Report 14th of May 2024 | PairCorr |
| 0.74 | VERX | Vertex Financial Report 8th of May 2024 | PairCorr |
| 0.56 | DPSI | DecisionPoint Systems Financial Report 20th of May 2024 | PairCorr |
| 0.53 | DSGX | Descartes Systems Financial Report 29th of May 2024 | PairCorr |
| 0.52 | DJCO | Daily Journal Corp | PairCorr |
The ability to find closely correlated positions to Sphere 3D could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sphere 3D when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Sphere 3D - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Sphere 3D Corp to buy it.
The correlation of Sphere 3D is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Sphere 3D moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sphere 3D Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Sphere 3D can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Historical Fundamental Analysis of Sphere 3D to cross-verify your projections. You can also try the Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
Complementary Tools for Sphere Stock analysis
When running Sphere 3D's price analysis, check to measure Sphere 3D's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Sphere 3D is operating at the current time. Most of Sphere 3D's value examination focuses on studying past and present price action to predict the probability of Sphere 3D's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Sphere 3D's price. Additionally, you may evaluate how the addition of Sphere 3D to your portfolios can decrease your overall portfolio volatility.
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Is Sphere 3D's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Sphere 3D. If investors know Sphere will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Sphere 3D listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (1.93) | Revenue Per Share 1.806 | Quarterly Revenue Growth 4.385 | Return On Assets (0.17) | Return On Equity (0.42) |
The market value of Sphere 3D Corp is measured differently than its book value, which is the value of Sphere that is recorded on the company's balance sheet. Investors also form their own opinion of Sphere 3D's value that differs from its market value or its book value, called intrinsic value, which is Sphere 3D's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Sphere 3D's market value can be influenced by many factors that don't directly affect Sphere 3D's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Sphere 3D's value and its price as these two are different measures arrived at by different means. Investors typically determine if Sphere 3D is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Sphere 3D's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.