Hammond Power Stock Forecast - 4 Period Moving Average
| HPS-A Stock | CAD 142.00 4.31 3.13% |
The 4 Period Moving Average forecasted value of Hammond Power Solutions on the next trading day is expected to be 137.57 with a mean absolute deviation of 5.08 and the sum of the absolute errors of 289.56. Hammond Stock Forecast is based on your current time horizon.
Hammond |
Hammond Power 4 Period Moving Average Price Forecast For the 30th of November
Given 90 days horizon, the 4 Period Moving Average forecasted value of Hammond Power Solutions on the next trading day is expected to be 137.57 with a mean absolute deviation of 5.08, mean absolute percentage error of 37.53, and the sum of the absolute errors of 289.56.Please note that although there have been many attempts to predict Hammond 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 Hammond Power's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Hammond Power Stock Forecast Pattern
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Hammond Power Forecasted Value
In the context of forecasting Hammond Power'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. Hammond Power's downside and upside margins for the forecasting period are 134.46 and 140.69, respectively. We have considered Hammond Power'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 4 Period Moving Average forecasting method's relative quality and the estimations of the prediction error of Hammond Power stock data series using in forecasting. Note that when a statistical model is used to represent Hammond Power 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 | 114.384 |
| Bias | Arithmetic mean of the errors | -1.1317 |
| MAD | Mean absolute deviation | 5.0799 |
| MAPE | Mean absolute percentage error | 0.0381 |
| SAE | Sum of the absolute errors | 289.555 |
Predictive Modules for Hammond Power
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Hammond Power Solutions. 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 Hammond Power
For every potential investor in Hammond, whether a beginner or expert, Hammond Power's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Hammond Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Hammond. Basic forecasting techniques help filter out the noise by identifying Hammond Power's price trends.Hammond Power 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 Hammond Power stock to make a market-neutral strategy. Peer analysis of Hammond Power could also be used in its relative valuation, which is a method of valuing Hammond Power by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Hammond Power Solutions 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 Hammond Power'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 Hammond Power's current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
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| Volume Indicators |
Hammond Power Market Strength Events
Market strength indicators help investors to evaluate how Hammond Power stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Hammond Power shares will generate the highest return on investment. By undertsting and applying Hammond Power stock market strength indicators, traders can identify Hammond Power Solutions entry and exit signals to maximize returns.
| Accumulation Distribution | 707.67 | |||
| Daily Balance Of Power | 1.180822 | |||
| Rate Of Daily Change | 1.03 | |||
| Day Median Price | 140.89 | |||
| Day Typical Price | 141.26 | |||
| Market Facilitation Index | 1.0E-4 | |||
| Price Action Indicator | 3.26 | |||
| Period Momentum Indicator | 4.31 | |||
| Relative Strength Index | 44.43 |
Hammond Power Risk Indicators
The analysis of Hammond Power'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 Hammond Power's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting hammond 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 | 2.49 | |||
| Semi Deviation | 3.56 | |||
| Standard Deviation | 3.21 | |||
| Variance | 10.28 | |||
| Downside Variance | 13.93 | |||
| Semi Variance | 12.66 | |||
| Expected Short fall | (2.43) |
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 Hammond Power
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 Hammond Power 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 Hammond Power will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Hammond Power could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hammond Power 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 Hammond Power - 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 Hammond Power Solutions to buy it.
The correlation of Hammond Power 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 Hammond Power moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hammond Power Solutions 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 Hammond Power 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.Additional Tools for Hammond Stock Analysis
When running Hammond Power's price analysis, check to measure Hammond Power's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Hammond Power is operating at the current time. Most of Hammond Power's value examination focuses on studying past and present price action to predict the probability of Hammond Power's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Hammond Power's price. Additionally, you may evaluate how the addition of Hammond Power to your portfolios can decrease your overall portfolio volatility.