OFG Bancorp Stock Forecast - Naive Prediction
| OFG Stock | USD 33.44 0.07 0.21% |
The Naive Prediction forecasted value of OFG Bancorp on the next trading day is expected to be 32.79 with a mean absolute deviation of 0.53 and the sum of the absolute errors of 32.46. OFG Stock Forecast is based on your current time horizon. Investors can use this forecasting interface to forecast OFG Bancorp stock prices and determine the direction of OFG Bancorp's future trends based on various well-known forecasting models. We recommend always using this module together with an analysis of OFG Bancorp's historical fundamentals, such as revenue growth or operating cash flow patterns. Although OFG Bancorp's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of OFG Bancorp's systematic risk associated with finding meaningful patterns of OFG Bancorp fundamentals over time.
Check out Historical Fundamental Analysis of OFG Bancorp to cross-verify your projections. OFG |
Open Interest Against 2024-04-19 OFG Option Contracts
Although open interest is a measure utilized in the options markets, it could be used to forecast OFG Bancorp'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 OFG Bancorp's options reflects these daily shifts, investors could use the patterns of these changes to develop long and short-term trading strategies for OFG Bancorp 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 OFG Bancorp's open interest, investors have to compare it to OFG Bancorp'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 OFG Bancorp 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 OFG. 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 OFG Bancorp 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 OFG Bancorp's time series price data and predict how it will affect future prices. One of these methodologies is forecasting, which interprets OFG Bancorp's price structures and extracts relationships that further increase the generated results' accuracy.
A naive forecasting model for OFG Bancorp is a special case of the moving average forecasting where the number of periods used for smoothing is one. Therefore, the forecast of OFG Bancorp 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. OFG Bancorp Naive Prediction Price Forecast For the 19th of April
Given 90 days horizon, the Naive Prediction forecasted value of OFG Bancorp on the next trading day is expected to be 32.79 with a mean absolute deviation of 0.53, mean absolute percentage error of 0.49, and the sum of the absolute errors of 32.46.Please note that although there have been many attempts to predict OFG 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 OFG Bancorp's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
OFG Bancorp Stock Forecast Pattern
| Backtest OFG Bancorp | OFG Bancorp Price Prediction | Buy or Sell Advice |
OFG Bancorp Forecasted Value
In the context of forecasting OFG Bancorp's 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. OFG Bancorp's downside and upside margins for the forecasting period are 31.12 and 34.46, respectively. We have considered OFG Bancorp's 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 Naive Prediction forecasting method's relative quality and the estimations of the prediction error of OFG Bancorp stock data series using in forecasting. Note that when a statistical model is used to represent OFG Bancorp 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 | 117.3889 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 0.5321 |
| MAPE | Mean absolute percentage error | 0.0147 |
| SAE | Sum of the absolute errors | 32.4598 |
Predictive Modules for OFG Bancorp
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as OFG Bancorp. 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 OFG Bancorp'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.
Other Forecasting Options for OFG Bancorp
For every potential investor in OFG, whether a beginner or expert, OFG Bancorp's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. OFG Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in OFG. Basic forecasting techniques help filter out the noise by identifying OFG Bancorp's price trends.View OFG Bancorp Related Equities
| Risk & Return | Correlation |
OFG Bancorp 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 OFG Bancorp's 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 OFG Bancorp's current price.| Cycle Indicators | ||
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| Math Transform | ||
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| Pattern Recognition | ||
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| Volume Indicators |
OFG Bancorp Market Strength Events
Market strength indicators help investors to evaluate how OFG Bancorp stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading OFG Bancorp shares will generate the highest return on investment. By undertsting and applying OFG Bancorp stock market strength indicators, traders can identify OFG Bancorp entry and exit signals to maximize returns.
OFG Bancorp Risk Indicators
The analysis of OFG Bancorp'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 OFG Bancorp's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting ofg 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 | 1.19 | |||
| Standard Deviation | 1.69 | |||
| Variance | 2.86 |
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.
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Try AI Portfolio ArchitectCheck out Historical Fundamental Analysis of OFG Bancorp to cross-verify your projections. For more detail on how to invest in OFG Stock please use our How to Invest in OFG Bancorp guide.Note that the OFG Bancorp information on this page should be used as a complementary analysis to other OFG Bancorp'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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
Complementary Tools for OFG Stock analysis
When running OFG Bancorp's price analysis, check to measure OFG Bancorp'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 OFG Bancorp is operating at the current time. Most of OFG Bancorp's value examination focuses on studying past and present price action to predict the probability of OFG Bancorp's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move OFG Bancorp's price. Additionally, you may evaluate how the addition of OFG Bancorp to your portfolios can decrease your overall portfolio volatility.
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Is OFG Bancorp'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 OFG Bancorp. If investors know OFG 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 OFG Bancorp listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.019 | Dividend Share 0.88 | Earnings Share 3.83 | Revenue Per Share 13.302 | Quarterly Revenue Growth 0.017 |
The market value of OFG Bancorp is measured differently than its book value, which is the value of OFG that is recorded on the company's balance sheet. Investors also form their own opinion of OFG Bancorp's value that differs from its market value or its book value, called intrinsic value, which is OFG Bancorp'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 OFG Bancorp's market value can be influenced by many factors that don't directly affect OFG Bancorp'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 OFG Bancorp's value and its price as these two are different measures arrived at by different means. Investors typically determine if OFG Bancorp is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, OFG Bancorp'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.