Teekay Tankers Stock Forecast - Simple Regression
| TNK Stock | USD 68.08 1.46 2.19% |
The Simple Regression forecasted value of Teekay Tankers on the next trading day is expected to be 72.95 with a mean absolute deviation of 3.36 and the sum of the absolute errors of 204.80. Teekay Stock Forecast is based on your current time horizon. Although Teekay Tankers' naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Teekay Tankers' systematic risk associated with finding meaningful patterns of Teekay Tankers fundamentals over time.
Teekay |
Open Interest Against 2024-06-21 Teekay Option Contracts
Although open interest is a measure utilized in the options markets, it could be used to forecast Teekay Tankers' 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 Teekay Tankers' options reflects these daily shifts, investors could use the patterns of these changes to develop long and short-term trading strategies for Teekay Tankers 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 Teekay Tankers' open interest, investors have to compare it to Teekay Tankers' 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 Teekay Tankers 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 Teekay. 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 Teekay Tankers 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 Teekay Tankers' time series price data and predict how it will affect future prices. One of these methodologies is forecasting, which interprets Teekay Tankers' 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 Teekay Tankers 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. Teekay Tankers Simple Regression Price Forecast For the 21st of June
Given 90 days horizon, the Simple Regression forecasted value of Teekay Tankers on the next trading day is expected to be 72.95 with a mean absolute deviation of 3.36, mean absolute percentage error of 13.85, and the sum of the absolute errors of 204.80.Please note that although there have been many attempts to predict Teekay 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 Teekay Tankers' next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Teekay Tankers Stock Forecast Pattern
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Teekay Tankers Forecasted Value
In the context of forecasting Teekay Tankers' 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. Teekay Tankers' downside and upside margins for the forecasting period are 70.74 and 75.17, respectively. We have considered Teekay Tankers' 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 Teekay Tankers stock data series using in forecasting. Note that when a statistical model is used to represent Teekay Tankers 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 | 120.7386 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 3.3573 |
| MAPE | Mean absolute percentage error | 0.0525 |
| SAE | Sum of the absolute errors | 204.7966 |
Predictive Modules for Teekay Tankers
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Teekay Tankers. 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 Teekay Tankers' 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 Teekay Tankers
For every potential investor in Teekay, whether a beginner or expert, Teekay Tankers' price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Teekay Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Teekay. Basic forecasting techniques help filter out the noise by identifying Teekay Tankers' price trends.Teekay Tankers 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 Teekay Tankers stock to make a market-neutral strategy. Peer analysis of Teekay Tankers could also be used in its relative valuation, which is a method of valuing Teekay Tankers by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Teekay Tankers 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 Teekay Tankers' 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 Teekay Tankers' current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
Teekay Tankers Market Strength Events
Market strength indicators help investors to evaluate how Teekay Tankers stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Teekay Tankers shares will generate the highest return on investment. By undertsting and applying Teekay Tankers stock market strength indicators, traders can identify Teekay Tankers entry and exit signals to maximize returns.
Teekay Tankers Risk Indicators
The analysis of Teekay Tankers' 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 Teekay Tankers' investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting teekay 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 | 1.59 | |||
| Semi Deviation | 1.44 | |||
| Standard Deviation | 2.16 | |||
| Variance | 4.66 | |||
| Downside Variance | 2.68 | |||
| Semi Variance | 2.08 | |||
| Expected Short fall | (1.93) |
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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Additional Information and Resources on Investing in Teekay Stock
When determining whether Teekay Tankers is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Teekay Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Teekay Tankers Stock. Highlighted below are key reports to facilitate an investment decision about Teekay Tankers Stock:Check out Historical Fundamental Analysis of Teekay Tankers to cross-verify your projections. For more information on how to buy Teekay Stock please use our How to buy in Teekay Stock guide.You can also try the Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
Is Oil & Gas Storage & Transportation space 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 Teekay Tankers. If investors know Teekay 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 Teekay Tankers 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 (0.15) | Dividend Share 1 | Earnings Share 14.14 | Revenue Per Share 38.247 | Quarterly Revenue Growth (0.14) |
The market value of Teekay Tankers is measured differently than its book value, which is the value of Teekay that is recorded on the company's balance sheet. Investors also form their own opinion of Teekay Tankers' value that differs from its market value or its book value, called intrinsic value, which is Teekay Tankers' 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 Teekay Tankers' market value can be influenced by many factors that don't directly affect Teekay Tankers' 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 Teekay Tankers' value and its price as these two are different measures arrived at by different means. Investors typically determine if Teekay Tankers is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Teekay Tankers' 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.