Elgi Rubber Stock Forecast - Simple Moving Average
| ELGIRUBCO | 129.17 2.71 2.05% |
The Simple Moving Average forecasted value of Elgi Rubber on the next trading day is expected to be 129.17 with a mean absolute deviation of 4.37 and the sum of the absolute errors of 261.91. Elgi Stock Forecast is based on your current time horizon. Investors can use this forecasting interface to forecast Elgi Rubber stock prices and determine the direction of Elgi Rubber's future trends based on various well-known forecasting models. We recommend always using this module together with an analysis of Elgi Rubber's historical fundamentals, such as revenue growth or operating cash flow patterns.
Elgi |
Elgi Rubber Simple Moving Average Price Forecast For the 12th of December 2024
Given 90 days horizon, the Simple Moving Average forecasted value of Elgi Rubber on the next trading day is expected to be 129.17 with a mean absolute deviation of 4.37, mean absolute percentage error of 41.13, and the sum of the absolute errors of 261.91.Please note that although there have been many attempts to predict Elgi 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 Elgi Rubber's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Elgi Rubber Stock Forecast Pattern
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Elgi Rubber Forecasted Value
In the context of forecasting Elgi Rubber'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. Elgi Rubber's downside and upside margins for the forecasting period are 124.50 and 133.84, respectively. We have considered Elgi Rubber'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.
Model Predictive Factors
The below table displays some essential indicators generated by the model showing the Simple Moving Average forecasting method's relative quality and the estimations of the prediction error of Elgi Rubber stock data series using in forecasting. Note that when a statistical model is used to represent Elgi Rubber 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 | 119.9894 |
| Bias | Arithmetic mean of the errors | -0.6875 |
| MAD | Mean absolute deviation | 4.3652 |
| MAPE | Mean absolute percentage error | 0.0398 |
| SAE | Sum of the absolute errors | 261.91 |
Predictive Modules for Elgi Rubber
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Elgi Rubber. 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.Other Forecasting Options for Elgi Rubber
For every potential investor in Elgi, whether a beginner or expert, Elgi Rubber's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Elgi Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Elgi. Basic forecasting techniques help filter out the noise by identifying Elgi Rubber's price trends.Elgi Rubber 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 Elgi Rubber stock to make a market-neutral strategy. Peer analysis of Elgi Rubber could also be used in its relative valuation, which is a method of valuing Elgi Rubber by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Elgi Rubber 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 Elgi Rubber'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 Elgi Rubber's current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
Elgi Rubber Market Strength Events
Market strength indicators help investors to evaluate how Elgi Rubber stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Elgi Rubber shares will generate the highest return on investment. By undertsting and applying Elgi Rubber stock market strength indicators, traders can identify Elgi Rubber entry and exit signals to maximize returns.
| Accumulation Distribution | 6944.86 | |||
| Daily Balance Of Power | (0.34) | |||
| Rate Of Daily Change | 0.98 | |||
| Day Median Price | 132.51 | |||
| Day Typical Price | 131.39 | |||
| Market Facilitation Index | 1.0E-4 | |||
| Price Action Indicator | (4.69) | |||
| Period Momentum Indicator | (2.71) | |||
| Relative Strength Index | 40.9 |
Elgi Rubber Risk Indicators
The analysis of Elgi Rubber'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 Elgi Rubber's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting elgi 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 | 3.03 | |||
| Semi Deviation | 3.03 | |||
| Standard Deviation | 4.56 | |||
| Variance | 20.76 | |||
| Downside Variance | 11.47 | |||
| Semi Variance | 9.16 | |||
| Expected Short fall | (4.17) |
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.
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in Elgi Stock
Elgi Rubber financial ratios help investors to determine whether Elgi Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Elgi with respect to the benefits of owning Elgi Rubber security.