Cameco Corp Stock Forecast - Triple Exponential Smoothing

CCO Stock  CAD 83.56  0.89  1.08%   
The Triple Exponential Smoothing forecasted value of Cameco Corp on the next trading day is expected to be 83.95 with a mean absolute deviation of 1.44 and the sum of the absolute errors of 84.87. Cameco Stock Forecast is based on your current time horizon. Although Cameco Corp's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Cameco Corp's systematic risk associated with finding meaningful patterns of Cameco Corp fundamentals over time.
  
At this time, Cameco Corp's Fixed Asset Turnover is very stable compared to the past year. As of the 4th of December 2024, Asset Turnover is likely to grow to 0.31, while Inventory Turnover is likely to drop 1.55. . As of the 4th of December 2024, Net Income Applicable To Common Shares is likely to grow to about 84.5 M, while Common Stock Shares Outstanding is likely to drop about 403.3 M.
Triple exponential smoothing for Cameco Corp - also known as the Winters method - is a refinement of the popular double exponential smoothing model with the addition of periodicity (seasonality) component. Simple exponential smoothing technique works best with data where there are no trend or seasonality components to the data. When Cameco Corp prices exhibit either an increasing or decreasing trend over time, simple exponential smoothing forecasts tend to lag behind observations. Double exponential smoothing is designed to address this type of data series by taking into account any trend in Cameco Corp price movement. However, neither of these exponential smoothing models address any seasonality of Cameco Corp.

Cameco Corp Triple Exponential Smoothing Price Forecast For the 5th of December

Given 90 days horizon, the Triple Exponential Smoothing forecasted value of Cameco Corp on the next trading day is expected to be 83.95 with a mean absolute deviation of 1.44, mean absolute percentage error of 3.41, and the sum of the absolute errors of 84.87.
Please note that although there have been many attempts to predict Cameco 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 Cameco Corp's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).

Cameco Corp Stock Forecast Pattern

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Cameco Corp Forecasted Value

In the context of forecasting Cameco Corp'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. Cameco Corp's downside and upside margins for the forecasting period are 81.53 and 86.37, respectively. We have considered Cameco Corp'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
83.56
83.95
Expected Value
86.37
Upside

Model Predictive Factors

The below table displays some essential indicators generated by the model showing the Triple Exponential Smoothing forecasting method's relative quality and the estimations of the prediction error of Cameco Corp stock data series using in forecasting. Note that when a statistical model is used to represent Cameco Corp 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.
AICAkaike Information CriteriaHuge
BiasArithmetic mean of the errors 0.2766
MADMean absolute deviation1.4386
MAPEMean absolute percentage error0.0202
SAESum of the absolute errors84.8746
As with simple exponential smoothing, in triple exponential smoothing models past Cameco Corp observations are given exponentially smaller weights as the observations get older. In other words, recent observations are given relatively more weight in forecasting than the older Cameco Corp observations.

Predictive Modules for Cameco Corp

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Cameco Corp. 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
LowEstimatedHigh
81.0683.4885.90
Details
Intrinsic
Valuation
LowRealHigh
75.2089.4591.87
Details
Bollinger
Band Projection (param)
LowMiddleHigh
78.8281.2983.75
Details
Earnings
Estimates (0)
LowProjected EPSHigh
0.070.140.19
Details

Other Forecasting Options for Cameco Corp

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

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

Cameco Corp 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 Cameco Corp'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 Cameco Corp's current price.

Cameco Corp Market Strength Events

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

Cameco Corp Risk Indicators

The analysis of Cameco Corp'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 Cameco Corp's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting cameco 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.
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 Cameco Corp

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 Cameco Corp 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 Cameco Corp will appreciate offsetting losses from the drop in the long position's value.

Moving together with Cameco Stock

  0.95ENB-PFV Enbridge Pref 5PairCorr
  0.76ENB-PFU Enbridge Pref LPairCorr
  0.9ENS E Split CorpPairCorr
  0.81ENS-PA E Split CorpPairCorr

Moving against Cameco Stock

  0.65SAGE Sage Potash CorpPairCorr
The ability to find closely correlated positions to Cameco Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cameco Corp 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 Cameco Corp - 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 Cameco Corp to buy it.
The correlation of Cameco Corp 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 Cameco Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cameco Corp 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 Cameco Corp 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
When determining whether Cameco Corp 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 Cameco 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 Cameco Corp Stock. Highlighted below are key reports to facilitate an investment decision about Cameco Corp Stock:
Check out Historical Fundamental Analysis of Cameco Corp to cross-verify your projections.
To learn how to invest in Cameco Stock, please use our How to Invest in Cameco Corp guide.
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Please note, there is a significant difference between Cameco Corp's value and its price as these two are different measures arrived at by different means. Investors typically determine if Cameco Corp is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Cameco Corp'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.