Cano Health Stock Forecast - Naive Prediction
| CANO Stock | USD 0.24 0.01 4.35% |
The Naive Prediction forecasted value of Cano Health on the next trading day is expected to be 0.18 with a mean absolute deviation of 0.26 and the sum of the absolute errors of 15.85. Cano Stock Forecast is based on your current time horizon. Investors can use this forecasting interface to forecast Cano Health stock prices and determine the direction of Cano Health's future trends based on various well-known forecasting models. We recommend always using this module together with an analysis of Cano Health's historical fundamentals, such as revenue growth or operating cash flow patterns. Although Cano Health's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Cano Health's systematic risk associated with finding meaningful patterns of Cano Health fundamentals over time.
Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. Cano |
Open Interest Against 2025-01-17 Cano Option Contracts
Although open interest is a measure utilized in the options markets, it could be used to forecast Cano Health'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 Cano Health's options reflects these daily shifts, investors could use the patterns of these changes to develop long and short-term trading strategies for Cano Health stock based on available contracts left at the end of a trading day.
No Open InterestPlease note that to derive more accurate forecasting about market movement from the current Cano Health's open interest, investors have to compare it to Cano Health'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 Cano Health 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 Cano. 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 Cano Health 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 Cano Health's time series price data and predict how it will affect future prices. One of these methodologies is forecasting, which interprets Cano Health's price structures and extracts relationships that further increase the generated results' accuracy.
A naive forecasting model for Cano Health is a special case of the moving average forecasting where the number of periods used for smoothing is one. Therefore, the forecast of Cano Health value for a given trading day is simply the observed value for the previous period. Due to the simplistic nature of the naive forecasting model, it can only be used to forecast up to one period. Cano Health Naive Prediction Price Forecast For the 24th of April
Given 90 days horizon, the Naive Prediction forecasted value of Cano Health on the next trading day is expected to be 0.18 with a mean absolute deviation of 0.26, mean absolute percentage error of 0.15, and the sum of the absolute errors of 15.85.Please note that although there have been many attempts to predict Cano 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 Cano Health's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Cano Health Stock Forecast Pattern
| Backtest Cano Health | Cano Health Price Prediction | Buy or Sell Advice |
Model Predictive Factors
The below table displays some essential indicators generated by the model showing the Naive Prediction forecasting method's relative quality and the estimations of the prediction error of Cano Health stock data series using in forecasting. Note that when a statistical model is used to represent Cano Health 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 | 116.228 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 0.2598 |
| MAPE | Mean absolute percentage error | 0.4654 |
| SAE | Sum of the absolute errors | 15.8469 |
Predictive Modules for Cano Health
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Cano Health. 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 Cano Health'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.
Cano Health 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 Cano Health stock to make a market-neutral strategy. Peer analysis of Cano Health could also be used in its relative valuation, which is a method of valuing Cano Health by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Cano Health Market Strength Events
Market strength indicators help investors to evaluate how Cano Health stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Cano Health shares will generate the highest return on investment. By undertsting and applying Cano Health stock market strength indicators, traders can identify Cano Health entry and exit signals to maximize returns.
Cano Health Risk Indicators
The analysis of Cano Health'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 Cano Health's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting cano 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 | 12.01 | |||
| Standard Deviation | 18.6 | |||
| Variance | 346.02 |
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.
Pair Trading with Cano Health
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 Cano Health 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 Cano Health will appreciate offsetting losses from the drop in the long position's value.Moving together with Cano Stock
| 0.87 | GH | Guardant Health Financial Report 14th of May 2024 | PairCorr |
| 0.76 | FIGS | Figs Inc Financial Report 2nd of May 2024 | PairCorr |
Moving against Cano Stock
| 0.92 | WGS | GeneDx Holdings Corp Earnings Call This Week | PairCorr |
| 0.85 | RCM | R1 RCM Inc Financial Report 2nd of May 2024 | PairCorr |
| 0.77 | HQY | HealthEquity Financial Report 3rd of June 2024 | PairCorr |
| 0.65 | DHR | Danaher Buyout Trend | PairCorr |
| 0.53 | GCTK | GlucoTrack | PairCorr |
The ability to find closely correlated positions to Cano Health could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cano Health 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 Cano Health - 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 Cano Health to buy it.
The correlation of Cano Health 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 Cano Health moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cano Health 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 Cano Health 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 Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. You can also try the Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
Complementary Tools for Cano Stock analysis
When running Cano Health's price analysis, check to measure Cano Health'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 Cano Health is operating at the current time. Most of Cano Health's value examination focuses on studying past and present price action to predict the probability of Cano Health's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Cano Health's price. Additionally, you may evaluate how the addition of Cano Health to your portfolios can decrease your overall portfolio volatility.
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Is Cano Health'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 Cano Health. If investors know Cano 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 Cano Health listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (228.47) | Revenue Per Share 1.2 K | Quarterly Revenue Growth 0.185 | Return On Assets (0.14) | Return On Equity (4.29) |
The market value of Cano Health is measured differently than its book value, which is the value of Cano that is recorded on the company's balance sheet. Investors also form their own opinion of Cano Health's value that differs from its market value or its book value, called intrinsic value, which is Cano Health'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 Cano Health's market value can be influenced by many factors that don't directly affect Cano Health'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 Cano Health's value and its price as these two are different measures arrived at by different means. Investors typically determine if Cano Health is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Cano Health'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.