CECO Environmental Stock Forecast - Naive Prediction
The Naive Prediction forecasted value of CECO Environmental Corp on the next trading day is expected to be 2.20 with a mean absolute deviation of 0.88 and the sum of the absolute errors of 53.47. CECO Stock Forecast is based on your current time horizon. Investors can use this forecasting interface to forecast CECO Environmental stock prices and determine the direction of CECO Environmental Corp's future trends based on various well-known forecasting models. We recommend always using this module together with an analysis of CECO Environmental'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 main economic indicators. CECO |
Most investors in CECO Environmental 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 CECO Environmental's time series price data and predict how it will affect future prices. One of these methodologies is forecasting, which interprets CECO Environmental's price structures and extracts relationships that further increase the generated results' accuracy.
A naive forecasting model for CECO Environmental is a special case of the moving average forecasting where the number of periods used for smoothing is one. Therefore, the forecast of CECO Environmental Corp 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. CECO Environmental Naive Prediction Price Forecast For the 24th of April
Given 90 days horizon, the Naive Prediction forecasted value of CECO Environmental Corp on the next trading day is expected to be 2.20 with a mean absolute deviation of 0.88, mean absolute percentage error of 4.00, and the sum of the absolute errors of 53.47.Please note that although there have been many attempts to predict CECO 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 CECO Environmental's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
CECO Environmental Stock Forecast Pattern
| Backtest CECO Environmental | CECO Environmental 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 CECO Environmental stock data series using in forecasting. Note that when a statistical model is used to represent CECO Environmental 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 | 119.4973 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 0.8765 |
| MAPE | Mean absolute percentage error | 9.223372036854776E14 |
| SAE | Sum of the absolute errors | 53.4668 |
Predictive Modules for CECO Environmental
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as CECO Environmental 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 CECO Environmental'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.
CECO Environmental 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 CECO Environmental stock to make a market-neutral strategy. Peer analysis of CECO Environmental could also be used in its relative valuation, which is a method of valuing CECO Environmental by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
CECO Environmental Risk Indicators
The analysis of CECO Environmental'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 CECO Environmental's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting ceco 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 | 1.94 | |||
| Semi Deviation | 2.01 | |||
| Standard Deviation | 2.53 | |||
| Variance | 6.4 | |||
| Downside Variance | 6.32 | |||
| Semi Variance | 4.03 | |||
| Expected Short fall | (2.22) |
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 CECO Environmental
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 CECO Environmental 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 CECO Environmental will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to CECO Environmental could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CECO Environmental 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 CECO Environmental - 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 CECO Environmental Corp to buy it.
The correlation of CECO Environmental 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 CECO Environmental moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CECO Environmental 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 CECO Environmental 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 main economic indicators. Note that the CECO Environmental Corp information on this page should be used as a complementary analysis to other CECO Environmental'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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
Other Consideration for investing in CECO Stock
If you are still planning to invest in CECO Environmental Corp 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 CECO Environmental's history and understand the potential risks before investing.
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