OMX Copenhagen Index Forecast - Naive Prediction

OC
OMXCBPI -- Sweden Index  

 1,133  2.72  0.24%

OMX Copenhagen Index Forecast is based on your current time horizon. Investors can use this forecasting interface to forecast OMX Copenhagen historical stock prices and determine the direction of OMX Copenhagen BenchmarkPI's future trends based on various well-known forecasting models. However, solely looking at the historical price movement is usually misleading. Macroaxis recommends to always use this module together with analysis of OMX Copenhagen historical fundamentals such as revenue growth or operating cash flow patterns. Check out fundamental analysis of OMX Copenhagen to check your projections.

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A naive forecasting model for OMX Copenhagen is a special case of the moving average forecasting where the number of periods used for smoothing is one. Therefore, the forecast of OMX Copenhagen BenchmarkPI 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.

OMX Copenhagen Naive Prediction Price Forecast For the 6th of July

Given 30 days horizon, the forecasted value of OMX Copenhagen BenchmarkPI on the next trading day is expected to be  1,149  with a mean absolute deviation of  9.76 , mean absolute percentage error of  145.86 , and the sum of the absolute errors of  595.45 
 1,149 

OMX Copenhagen Index Forecast Pattern

OMX Copenhagen Forecasted Value

Market Value
1,133
5th of July 2020
1,149
Expected Value
1,151
Upside

Model Predictive Factors

AICAkaike Information Criteria123.0931
BiasArithmetic mean of the errors None
MADMean absolute deviation9.7615
MAPEMean absolute percentage error0.0092
SAESum of the absolute errors595.4498
This model is not at all useful as a medium-long range forecasting tool of OMX Copenhagen BenchmarkPI. This model is simplistic and is included partly for completeness and partly because of its simplicity. It is unlikely that you'll want to use this model directly to predict OMX Copenhagen. Instead, consider using either the moving average model or the more general weighted moving average model with a higher (i.e., greater than 1) number of periods, and possibly a different set of weights.

Predictive Modules for OMX Copenhagen

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as OMX Copenhagen Bench. 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.
Hype
Prediction
LowEstimated ValueHigh
1,1321,1331,134
Details
Intrinsic
Valuation
LowReal ValueHigh
814.71815.911,247
Details
Bollinger
Band Projection (param)
LowerMiddle BandUpper
1,0841,1141,143
Details

Other Forecasting Options for OMX Copenhagen

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OMX Copenhagen Bench Technical and Predictive Analytics

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Check out fundamental analysis of OMX Copenhagen to check your projections. Please also try Money Managers module to screen money managers from public funds and etfs managed around the world.
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