Centennial Resource Stock Forecast - Triple Exponential Smoothing
| CDEVDelisted Stock | USD 10.59 0.15 1.40% |
The Triple Exponential Smoothing forecasted value of Centennial Resource Development on the next trading day is expected to be 10.72 with a mean absolute deviation of 0.26 and the sum of the absolute errors of 15.44. Centennial Stock Forecast is based on your current time horizon. Investors can use this forecasting interface to forecast Centennial Resource stock prices and determine the direction of Centennial Resource Development's future trends based on various well-known forecasting models. We recommend always using this module together with an analysis of Centennial Resource's historical fundamentals, such as revenue growth or operating cash flow patterns.
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 income. Centennial |
Most investors in Centennial Resource 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 Centennial Resource's time series price data and predict how it will affect future prices. One of these methodologies is forecasting, which interprets Centennial Resource's price structures and extracts relationships that further increase the generated results' accuracy.
Triple exponential smoothing for Centennial Resource - also known as the Winters method - is a refinement of the popular double exponential smoothing model with the addition of periodicity (seasonality) component. Simple exponential smoothing technique works best with data where there are no trend or seasonality components to the data. When Centennial Resource prices exhibit either an increasing or decreasing trend over time, simple exponential smoothing forecasts tend to lag behind observations. Double exponential smoothing is designed to address this type of data series by taking into account any trend in Centennial Resource price movement. However, neither of these exponential smoothing models address any seasonality of Centennial Resource. Centennial Resource Triple Exponential Smoothing Price Forecast For the 25th of April
Given 90 days horizon, the Triple Exponential Smoothing forecasted value of Centennial Resource Development on the next trading day is expected to be 10.72 with a mean absolute deviation of 0.26, mean absolute percentage error of 0.1, and the sum of the absolute errors of 15.44.Please note that although there have been many attempts to predict Centennial 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 Centennial Resource's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Centennial Resource Stock Forecast Pattern
| Backtest Centennial Resource | Centennial Resource Price Prediction | Buy or Sell Advice |
Model Predictive Factors
The below table displays some essential indicators generated by the model showing the Triple Exponential Smoothing forecasting method's relative quality and the estimations of the prediction error of Centennial Resource stock data series using in forecasting. Note that when a statistical model is used to represent Centennial Resource 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 | -0.0396 |
| MAD | Mean absolute deviation | 0.2616 |
| MAPE | Mean absolute percentage error | 0.0321 |
| SAE | Sum of the absolute errors | 15.4368 |
Predictive Modules for Centennial Resource
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Centennial Resource. 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 Centennial Resource'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.
Centennial Resource 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 Centennial Resource stock to make a market-neutral strategy. Peer analysis of Centennial Resource could also be used in its relative valuation, which is a method of valuing Centennial Resource by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Centennial Resource Market Strength Events
Market strength indicators help investors to evaluate how Centennial Resource stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Centennial Resource shares will generate the highest return on investment. By undertsting and applying Centennial Resource stock market strength indicators, traders can identify Centennial Resource Development entry and exit signals to maximize returns.
Centennial Resource Risk Indicators
The analysis of Centennial Resource'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 Centennial Resource's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting centennial 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 | 3.05 | |||
| Semi Deviation | 2.99 | |||
| Standard Deviation | 3.73 | |||
| Variance | 13.93 | |||
| Downside Variance | 12.52 | |||
| Semi Variance | 8.92 | |||
| Expected Short fall | (3.43) |
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 Centennial Resource 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, Centennial Resource's short interest history, or implied volatility extrapolated from Centennial Resource options trading.
Pair Trading with Centennial Resource
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 Centennial Resource 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 Centennial Resource will appreciate offsetting losses from the drop in the long position's value.Moving together with Centennial Stock
| 0.69 | AMZN | Amazon Inc Earnings Call Tomorrow | PairCorr |
| 0.72 | HNHPF | Hon Hai Precision | PairCorr |
| 0.63 | VLKAF | Volkswagen AG | PairCorr |
Moving against Centennial Stock
| 0.83 | ACN | Accenture plc Sell-off Trend | PairCorr |
| 0.83 | JNJ | Johnson Johnson Aggressive Push | PairCorr |
| 0.81 | INTC | Intel Earnings Call Tomorrow | PairCorr |
| 0.46 | CSCO | Cisco Systems Fiscal Quarter End 30th of April 2024 | PairCorr |
The ability to find closely correlated positions to Centennial Resource could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Centennial Resource 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 Centennial Resource - 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 Centennial Resource Development to buy it.
The correlation of Centennial Resource 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 Centennial Resource moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Centennial Resource 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 Centennial Resource 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 income. Note that the Centennial Resource information on this page should be used as a complementary analysis to other Centennial Resource's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Bonds Directory module to find actively traded corporate debentures issued by US companies.
Other Consideration for investing in Centennial Stock
If you are still planning to invest in Centennial Resource check if it may still be traded through OTC markets such as Pink Sheets or OTC Bulletin Board. You may also purchase it directly from the company, but this is not always possible and may require contacting the company directly. Please note that delisted stocks are often considered to be more risky investments, as they are no longer subject to the same regulatory and reporting requirements as listed stocks. Therefore, it is essential to carefully research the Centennial Resource's history and understand the potential risks before investing.
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