Storebrand Global Fund Forecast - Naive Prediction

0P0001EC8K   2,374  14.37  0.60%   
The Naive Prediction forecasted value of Storebrand Global Solutions on the next trading day is expected to be 2,368 with a mean absolute deviation of 13.91 and the sum of the absolute errors of 848.34. Investors can use prediction functions to forecast Storebrand Global's fund prices and determine the direction of Storebrand Global Solutions's future trends based on various well-known forecasting models. However, exclusively looking at the historical price movement is usually misleading.
  
A naive forecasting model for Storebrand Global is a special case of the moving average forecasting where the number of periods used for smoothing is one. Therefore, the forecast of Storebrand Global Solutions 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.

Storebrand Global Naive Prediction Price Forecast For the 18th of December 2024

Given 90 days horizon, the Naive Prediction forecasted value of Storebrand Global Solutions on the next trading day is expected to be 2,368 with a mean absolute deviation of 13.91, mean absolute percentage error of 313.80, and the sum of the absolute errors of 848.34.
Please note that although there have been many attempts to predict Storebrand Fund 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 Storebrand Global's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).

Storebrand Global Fund Forecast Pattern

Storebrand Global Forecasted Value

In the context of forecasting Storebrand Global's Fund 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. Storebrand Global's downside and upside margins for the forecasting period are 2,367 and 2,368, respectively. We have considered Storebrand Global'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.
Market Value
2,374
2,368
Expected Value
2,368
Upside

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 Storebrand Global fund data series using in forecasting. Note that when a statistical model is used to represent Storebrand Global fund, 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.
AICAkaike Information Criteria123.8592
BiasArithmetic mean of the errors None
MADMean absolute deviation13.9072
MAPEMean absolute percentage error0.0059
SAESum of the absolute errors848.3422
This model is not at all useful as a medium-long range forecasting tool of Storebrand Global Solutions. 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 Storebrand Global. 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 Storebrand Global

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Storebrand Global. Regardless of method or technology, however, to accurately forecast the fund market is more a matter of luck rather than a particular technique. Nevertheless, trying to predict the fund 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.

Other Forecasting Options for Storebrand Global

For every potential investor in Storebrand, whether a beginner or expert, Storebrand Global's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Storebrand Fund price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Storebrand. Basic forecasting techniques help filter out the noise by identifying Storebrand Global's price trends.

Storebrand Global 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 Storebrand Global fund to make a market-neutral strategy. Peer analysis of Storebrand Global could also be used in its relative valuation, which is a method of valuing Storebrand Global by comparing valuation metrics with similar companies.
 Risk & Return  Correlation

Storebrand Global Technical and Predictive Analytics

The fund market is financially volatile. Despite the volatility, there exist limitless possibilities of gaining profits and building passive income portfolios. With the complexity of Storebrand Global'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 Storebrand Global's current price.

Storebrand Global Market Strength Events

Market strength indicators help investors to evaluate how Storebrand Global fund reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Storebrand Global shares will generate the highest return on investment. By undertsting and applying Storebrand Global fund market strength indicators, traders can identify Storebrand Global Solutions entry and exit signals to maximize returns.

Storebrand Global Risk Indicators

The analysis of Storebrand Global'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 Storebrand Global's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting storebrand fund 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.
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.

Pair Trading with Storebrand Global

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Storebrand Global position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Storebrand Global will appreciate offsetting losses from the drop in the long position's value.

Moving together with Storebrand Fund

  0.74IE00B065CV35 Franklin Floating RatePairCorr
  0.73IE0032578035 Franklin Floating RatePairCorr
  0.74IE00B000C709 Franklin Floating RatePairCorr
The ability to find closely correlated positions to Storebrand Global could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Storebrand Global when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Storebrand Global - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Storebrand Global Solutions to buy it.
The correlation of Storebrand Global is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Storebrand Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Storebrand Global moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Storebrand Global can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
Insider Screener
Find insiders across different sectors to evaluate their impact on performance
Bonds Directory
Find actively traded corporate debentures issued by US companies
Commodity Channel
Use Commodity Channel Index to analyze current equity momentum
Equity Valuation
Check real value of public entities based on technical and fundamental data