Electric Royalties Stock Forecast - 8 Period Moving Average
ELEC Stock | CAD 0.24 0.01 4.00% |
The 8 Period Moving Average forecasted value of Electric Royalties on the next trading day is expected to be 0.26 with a mean absolute deviation of 0.02 and the sum of the absolute errors of 1.16. Electric Stock Forecast is based on your current time horizon. Investors can use this forecasting interface to forecast Electric Royalties stock prices and determine the direction of Electric Royalties's future trends based on various well-known forecasting models. We recommend always using this module together with an analysis of Electric Royalties' historical fundamentals, such as revenue growth or operating cash flow patterns. Although Electric Royalties' naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Electric Royalties' systematic risk associated with finding meaningful patterns of Electric Royalties fundamentals over time.
Check out Historical Fundamental Analysis of Electric Royalties to cross-verify your projections. Electric |
Most investors in Electric Royalties 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 Electric Royalties' time series price data and predict how it will affect future prices. One of these methodologies is forecasting, which interprets Electric Royalties' price structures and extracts relationships that further increase the generated results' accuracy.
An 8-period moving average forecast model for Electric Royalties is based on an artificially constructed time series of Electric Royalties daily prices in which the value for a trading day is replaced by the mean of that value and the values for 8 of preceding and succeeding time periods. This model is best suited for price series data that changes over time. Electric Royalties 8 Period Moving Average Price Forecast For the 29th of April
Given 90 days horizon, the 8 Period Moving Average forecasted value of Electric Royalties on the next trading day is expected to be 0.26 with a mean absolute deviation of 0.02, mean absolute percentage error of 0.0007, and the sum of the absolute errors of 1.16.Please note that although there have been many attempts to predict Electric 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 Electric Royalties' next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Electric Royalties Stock Forecast Pattern
Backtest Electric Royalties | Electric Royalties Price Prediction | Buy or Sell Advice |
Electric Royalties Forecasted Value
In the context of forecasting Electric Royalties' 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. Electric Royalties' downside and upside margins for the forecasting period are 0 and 6.62, respectively. We have considered Electric Royalties' 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 8 Period Moving Average forecasting method's relative quality and the estimations of the prediction error of Electric Royalties stock data series using in forecasting. Note that when a statistical model is used to represent Electric Royalties 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 | 96.1532 |
Bias | Arithmetic mean of the errors | 0.0032 |
MAD | Mean absolute deviation | 0.0219 |
MAPE | Mean absolute percentage error | 0.0897 |
SAE | Sum of the absolute errors | 1.1613 |
Predictive Modules for Electric Royalties
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Electric Royalties. 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 Electric Royalties' 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 Electric Royalties
For every potential investor in Electric, whether a beginner or expert, Electric Royalties' price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Electric Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Electric. Basic forecasting techniques help filter out the noise by identifying Electric Royalties' price trends.Electric Royalties 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 Electric Royalties stock to make a market-neutral strategy. Peer analysis of Electric Royalties could also be used in its relative valuation, which is a method of valuing Electric Royalties by comparing valuation metrics with similar companies.
Risk & Return | Correlation |
Electric Royalties 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 Electric Royalties' 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 Electric Royalties' current price.Cycle Indicators | ||
Math Operators | ||
Math Transform | ||
Momentum Indicators | ||
Overlap Studies | ||
Pattern Recognition | ||
Price Transform | ||
Statistic Functions | ||
Volatility Indicators | ||
Volume Indicators |
Electric Royalties Market Strength Events
Market strength indicators help investors to evaluate how Electric Royalties stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Electric Royalties shares will generate the highest return on investment. By undertsting and applying Electric Royalties stock market strength indicators, traders can identify Electric Royalties entry and exit signals to maximize returns.
Electric Royalties Risk Indicators
The analysis of Electric Royalties' 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 Electric Royalties' investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting electric 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 | 4.23 | |||
Standard Deviation | 6.53 | |||
Variance | 42.63 |
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 Electric Royalties
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 Electric Royalties 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 Electric Royalties will appreciate offsetting losses from the drop in the long position's value.Moving against Electric Stock
0.68 | BRK | Berkshire Hathaway CDR | PairCorr |
0.64 | WMT | Walmart Inc CDR | PairCorr |
0.6 | JPM | JPMorgan Chase | PairCorr |
0.51 | IBM | International Business | PairCorr |
The ability to find closely correlated positions to Electric Royalties could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Electric Royalties 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 Electric Royalties - 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 Electric Royalties to buy it.
The correlation of Electric Royalties 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 Electric Royalties moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Electric Royalties 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 Electric Royalties 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 Electric Royalties to cross-verify your projections. Note that the Electric Royalties information on this page should be used as a complementary analysis to other Electric Royalties' 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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
Complementary Tools for Electric Stock analysis
When running Electric Royalties' price analysis, check to measure Electric Royalties' 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 Electric Royalties is operating at the current time. Most of Electric Royalties' value examination focuses on studying past and present price action to predict the probability of Electric Royalties' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Electric Royalties' price. Additionally, you may evaluate how the addition of Electric Royalties to your portfolios can decrease your overall portfolio volatility.
Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
Commodity Directory Find actively traded commodities issued by global exchanges | |
Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
FinTech Suite Use AI to screen and filter profitable investment opportunities | |
Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance |