Legend Biotech Stock Forecast - 20 Period Moving Average
| LEGN Stock | USD 43.13 0.55 1.29% |
The 20 Period Moving Average forecasted value of Legend Biotech Corp on the next trading day is expected to be 41.04 with a mean absolute deviation of 2.48 and the sum of the absolute errors of 101.74. Legend Stock Forecast is based on your current time horizon. Although Legend Biotech's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Legend Biotech's systematic risk associated with finding meaningful patterns of Legend Biotech fundamentals over time.
Legend |
Legend Biotech 20 Period Moving Average Price Forecast For the 29th of November
Given 90 days horizon, the 20 Period Moving Average forecasted value of Legend Biotech Corp on the next trading day is expected to be 41.04 with a mean absolute deviation of 2.48, mean absolute percentage error of 8.16, and the sum of the absolute errors of 101.74.Please note that although there have been many attempts to predict Legend 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 Legend Biotech's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Legend Biotech Stock Forecast Pattern
| Backtest Legend Biotech | Legend Biotech Price Prediction | Buy or Sell Advice |
Legend Biotech Forecasted Value
In the context of forecasting Legend Biotech'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. Legend Biotech's downside and upside margins for the forecasting period are 37.80 and 44.28, respectively. We have considered Legend Biotech'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 20 Period Moving Average forecasting method's relative quality and the estimations of the prediction error of Legend Biotech stock data series using in forecasting. Note that when a statistical model is used to represent Legend Biotech 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 | 83.4524 |
| Bias | Arithmetic mean of the errors | 1.8963 |
| MAD | Mean absolute deviation | 2.4814 |
| MAPE | Mean absolute percentage error | 0.0589 |
| SAE | Sum of the absolute errors | 101.7375 |
Predictive Modules for Legend Biotech
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Legend Biotech 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.Other Forecasting Options for Legend Biotech
For every potential investor in Legend, whether a beginner or expert, Legend Biotech's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Legend Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Legend. Basic forecasting techniques help filter out the noise by identifying Legend Biotech's price trends.Legend Biotech 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 Legend Biotech stock to make a market-neutral strategy. Peer analysis of Legend Biotech could also be used in its relative valuation, which is a method of valuing Legend Biotech by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Legend Biotech 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 Legend Biotech'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 Legend Biotech's current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
Legend Biotech Market Strength Events
Market strength indicators help investors to evaluate how Legend Biotech stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Legend Biotech shares will generate the highest return on investment. By undertsting and applying Legend Biotech stock market strength indicators, traders can identify Legend Biotech Corp entry and exit signals to maximize returns.
Legend Biotech Risk Indicators
The analysis of Legend Biotech'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 Legend Biotech's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting legend 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 | 2.34 | |||
| Standard Deviation | 3.2 | |||
| Variance | 10.24 |
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 Legend Biotech
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 Legend Biotech 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 Legend Biotech will appreciate offsetting losses from the drop in the long position's value.Moving together with Legend Stock
| 0.79 | FDMT | 4D Molecular Therapeutics | PairCorr |
| 0.76 | JNJ | Johnson Johnson Fiscal Year End 28th of January 2025 | PairCorr |
| 0.84 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
Moving against Legend Stock
| 0.78 | BMY | Bristol Myers Squibb Aggressive Push | PairCorr |
| 0.78 | NAMS | NewAmsterdam Pharma | PairCorr |
| 0.57 | PHVS | Pharvaris BV | PairCorr |
| 0.51 | PMVP | Pmv Pharmaceuticals | PairCorr |
| 0.34 | PLRX | Pliant Therapeutics | PairCorr |
The ability to find closely correlated positions to Legend Biotech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Legend Biotech 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 Legend Biotech - 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 Legend Biotech Corp to buy it.
The correlation of Legend Biotech 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 Legend Biotech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Legend Biotech 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 Legend Biotech 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.Check out Historical Fundamental Analysis of Legend Biotech to cross-verify your projections. You can also try the Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
Is Biotechnology space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Legend Biotech. If investors know Legend will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Legend Biotech listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (1.95) | Revenue Per Share 2.851 | Quarterly Revenue Growth 0.669 | Return On Assets (0.12) | Return On Equity (0.28) |
The market value of Legend Biotech Corp is measured differently than its book value, which is the value of Legend that is recorded on the company's balance sheet. Investors also form their own opinion of Legend Biotech's value that differs from its market value or its book value, called intrinsic value, which is Legend Biotech's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Legend Biotech's market value can be influenced by many factors that don't directly affect Legend Biotech's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Legend Biotech's value and its price as these two are different measures arrived at by different means. Investors typically determine if Legend Biotech is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Legend Biotech'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.