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Best Buy Stock Forecast - Simple Exponential Smoothing

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BBY -- USA Stock  

Earnings Report: May 28, 2020  

Investors can use this prediction interface to forecast Best Buy historic stock prices and determine the direction of Best Buy Co future trends based on various well-known forecasting models. However, looking at historical price movement exclusively is usually misleading. Macroaxis recommends to always use this module together with analysis of Best Buy historical fundamentals such as revenue growth or operating cash flow patterns. Although naive historical forecasting may sometimes provide an important future outlook for the firm we recommend to always cross-verify it against solid analysis of Best Buy Co systematic risks associated with finding meaningful patterns of Best Buy fundamentals over time. Continue to Historical Fundamental Analysis of Best Buy to cross-verify your projections.
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Best Buy simple exponential smoothing forecast is a very popular model used to produce a smoothed price series. Whereas in simple Moving Average models the past observations for Best Buy Co are weighted equally, Exponential Smoothing assigns exponentially decreasing weights as Best Buy prices get older.
Given 30 days horizon, the value of Best Buy Co on the next trading day is expected to be 78.31

Best Buy Stock Forecast Pattern

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Best Buy Forecasted Value

Market Value
78.31
February 27, 2020
78.31
Expected Value
83.01
Upside

Model Predictive Factors

AICAkaike Information Criteria116.8843
BiasArithmetic mean of the errors -0.0033
MADMean absolute deviation1.001
MAPEMean absolute percentage error0.0116
SAESum of the absolute errors60.06
This simple exponential smoothing model begins by setting Best Buy Co forecast for the second period equal to the observation of the first period. In other words, recent Best Buy observations are given relatively more weight in forecasting than the older observations.

Volatility Measures

Best Buy Risk Indicators

Current Sentiment - BBY

Best Buy Investor Sentiment

Predominant part of Macroaxis users are currently bullish on Best Buy Co. What is your opinion about investing in Best Buy Co? Are you bullish or bearish?
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Bearish
98% Bullish
2% Bearish
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Best Buy Pair Correlation

Equities Pair Trading Analysis

Correlation analysis and pair trading evaluation for Best Buy and Advance Auto Parts. Pair trading can be used as a hedging technique within a particular sector or industry or even over random equities to generate better risk-adjusted return
Run Pair Correlation  
Continue to Historical Fundamental Analysis of Best Buy to cross-verify your projections. Please also try Equity Search module to search for activelly-traded equities including funds and etfs from over 30 global markets.