IRhythm Technologies Stock Forecast - Simple Regression
| IRTC Stock | USD 116.43 0.09 0.08% |
The Simple Regression forecasted value of iRhythm Technologies on the next trading day is expected to be 109.49 with a mean absolute deviation of 4.17 and the sum of the absolute errors of 258.27. IRhythm Stock Forecast is based on your current time horizon. Investors can use this forecasting interface to forecast IRhythm Technologies stock prices and determine the direction of iRhythm Technologies's future trends based on various well-known forecasting models. We recommend always using this module together with an analysis of IRhythm Technologies' historical fundamentals, such as revenue growth or operating cash flow patterns. Although IRhythm Technologies' naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of IRhythm Technologies' systematic risk associated with finding meaningful patterns of IRhythm Technologies fundamentals over time.
Check out Historical Fundamental Analysis of IRhythm Technologies to cross-verify your projections. IRhythm |
Open Interest Against 2024-05-17 IRhythm Option Contracts
Although open interest is a measure utilized in the options markets, it could be used to forecast IRhythm Technologies' 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 IRhythm Technologies' options reflects these daily shifts, investors could use the patterns of these changes to develop long and short-term trading strategies for IRhythm Technologies 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 IRhythm Technologies' open interest, investors have to compare it to IRhythm Technologies' 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 IRhythm Technologies 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 IRhythm. 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 IRhythm Technologies 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 IRhythm Technologies' time series price data and predict how it will affect future prices. One of these methodologies is forecasting, which interprets IRhythm Technologies' price structures and extracts relationships that further increase the generated results' accuracy.
Simple Regression model is a single variable regression model that attempts to put a straight line through IRhythm Technologies price points. This line is defined by its gradient or slope, and the point at which it intercepts the x-axis. Mathematically, assuming the independent variable is X and the dependent variable is Y, then this line can be represented as: Y = intercept + slope * X. IRhythm Technologies Simple Regression Price Forecast For the 26th of April
Given 90 days horizon, the Simple Regression forecasted value of iRhythm Technologies on the next trading day is expected to be 109.49 with a mean absolute deviation of 4.17, mean absolute percentage error of 23.82, and the sum of the absolute errors of 258.27.Please note that although there have been many attempts to predict IRhythm 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 IRhythm Technologies' next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
IRhythm Technologies Stock Forecast Pattern
| Backtest IRhythm Technologies | IRhythm Technologies Price Prediction | Buy or Sell Advice |
IRhythm Technologies Forecasted Value
In the context of forecasting IRhythm Technologies' 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. IRhythm Technologies' downside and upside margins for the forecasting period are 106.42 and 112.55, respectively. We have considered IRhythm Technologies' 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 Simple Regression forecasting method's relative quality and the estimations of the prediction error of IRhythm Technologies stock data series using in forecasting. Note that when a statistical model is used to represent IRhythm Technologies 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 | 123.1188 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 4.1657 |
| MAPE | Mean absolute percentage error | 0.0373 |
| SAE | Sum of the absolute errors | 258.2713 |
Predictive Modules for IRhythm Technologies
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as iRhythm Technologies. 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 IRhythm Technologies' 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 IRhythm Technologies
For every potential investor in IRhythm, whether a beginner or expert, IRhythm Technologies' price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. IRhythm Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in IRhythm. Basic forecasting techniques help filter out the noise by identifying IRhythm Technologies' price trends.IRhythm Technologies 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 IRhythm Technologies stock to make a market-neutral strategy. Peer analysis of IRhythm Technologies could also be used in its relative valuation, which is a method of valuing IRhythm Technologies by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
iRhythm Technologies 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 IRhythm Technologies' 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 IRhythm Technologies' current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
IRhythm Technologies Market Strength Events
Market strength indicators help investors to evaluate how IRhythm Technologies stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading IRhythm Technologies shares will generate the highest return on investment. By undertsting and applying IRhythm Technologies stock market strength indicators, traders can identify iRhythm Technologies entry and exit signals to maximize returns.
IRhythm Technologies Risk Indicators
The analysis of IRhythm Technologies' 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 IRhythm Technologies' investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting irhythm 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 | 2.03 | |||
| Semi Deviation | 3.22 | |||
| Standard Deviation | 3.04 | |||
| Variance | 9.23 | |||
| Downside Variance | 12.21 | |||
| Semi Variance | 10.39 | |||
| Expected Short fall | (1.85) |
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.
IRhythm Technologies Investors Sentiment
The influence of IRhythm Technologies' investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in IRhythm. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to IRhythm Technologies' public news can be used to forecast risks associated with an investment in IRhythm. The trend in average sentiment can be used to explain how an investor holding IRhythm can time the market purely based on public headlines and social activities around iRhythm Technologies. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
IRhythm Technologies' market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for IRhythm Technologies' and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average IRhythm Technologies' news discussions. The higher the estimated score, the more favorable is the investor's outlook on IRhythm Technologies.
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 IRhythm Technologies 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, IRhythm Technologies' short interest history, or implied volatility extrapolated from IRhythm Technologies options trading.
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Try AI Portfolio ArchitectCheck out Historical Fundamental Analysis of IRhythm Technologies to cross-verify your projections. For information on how to trade IRhythm Stock refer to our How to Trade IRhythm Stock guide.You can also try the Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
Complementary Tools for IRhythm Stock analysis
When running IRhythm Technologies' price analysis, check to measure IRhythm Technologies' 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 IRhythm Technologies is operating at the current time. Most of IRhythm Technologies' value examination focuses on studying past and present price action to predict the probability of IRhythm Technologies' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move IRhythm Technologies' price. Additionally, you may evaluate how the addition of IRhythm Technologies to your portfolios can decrease your overall portfolio volatility.
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Is IRhythm Technologies' 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 IRhythm Technologies. If investors know IRhythm 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 IRhythm Technologies listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (4.04) | Revenue Per Share 16.139 | Quarterly Revenue Growth 0.177 | Return On Assets (0.14) | Return On Equity (0.55) |
The market value of iRhythm Technologies is measured differently than its book value, which is the value of IRhythm that is recorded on the company's balance sheet. Investors also form their own opinion of IRhythm Technologies' value that differs from its market value or its book value, called intrinsic value, which is IRhythm Technologies' 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 IRhythm Technologies' market value can be influenced by many factors that don't directly affect IRhythm Technologies' 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 IRhythm Technologies' value and its price as these two are different measures arrived at by different means. Investors typically determine if IRhythm Technologies is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, IRhythm Technologies' 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.