Nutrien Stock Forecast - Simple Regression
| NTR Stock | CAD 68.63 0.42 0.62% |
The Simple Regression forecasted value of Nutrien on the next trading day is expected to be 67.38 with a mean absolute deviation of 1.27 and the sum of the absolute errors of 77.53. Nutrien Stock Forecast is based on your current time horizon. Although Nutrien's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Nutrien's systematic risk associated with finding meaningful patterns of Nutrien fundamentals over time.
Nutrien |
Nutrien Simple Regression Price Forecast For the 14th of December 2024
Given 90 days horizon, the Simple Regression forecasted value of Nutrien on the next trading day is expected to be 67.38 with a mean absolute deviation of 1.27, mean absolute percentage error of 2.46, and the sum of the absolute errors of 77.53.Please note that although there have been many attempts to predict Nutrien 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 Nutrien's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Nutrien Stock Forecast Pattern
| Backtest Nutrien | Nutrien Price Prediction | Buy or Sell Advice |
Nutrien Forecasted Value
In the context of forecasting Nutrien'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. Nutrien's downside and upside margins for the forecasting period are 66.01 and 68.76, respectively. We have considered Nutrien'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 Regression forecasting method's relative quality and the estimations of the prediction error of Nutrien stock data series using in forecasting. Note that when a statistical model is used to represent Nutrien 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 | 119.0107 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 1.271 |
| MAPE | Mean absolute percentage error | 0.0192 |
| SAE | Sum of the absolute errors | 77.5329 |
Predictive Modules for Nutrien
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Nutrien. 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 Nutrien
For every potential investor in Nutrien, whether a beginner or expert, Nutrien's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Nutrien Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Nutrien. Basic forecasting techniques help filter out the noise by identifying Nutrien's price trends.Nutrien 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 Nutrien stock to make a market-neutral strategy. Peer analysis of Nutrien could also be used in its relative valuation, which is a method of valuing Nutrien by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Nutrien 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 Nutrien'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 Nutrien's current price.| Cycle Indicators | ||
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| Math Transform | ||
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| Overlap Studies | ||
| Pattern Recognition | ||
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| Volume Indicators |
Nutrien Market Strength Events
Market strength indicators help investors to evaluate how Nutrien stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Nutrien shares will generate the highest return on investment. By undertsting and applying Nutrien stock market strength indicators, traders can identify Nutrien entry and exit signals to maximize returns.
| Accumulation Distribution | 14865.93 | |||
| Daily Balance Of Power | 0.4078 | |||
| Rate Of Daily Change | 1.01 | |||
| Day Median Price | 68.28 | |||
| Day Typical Price | 68.39 | |||
| Price Action Indicator | 0.56 | |||
| Period Momentum Indicator | 0.42 |
Nutrien Risk Indicators
The analysis of Nutrien'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 Nutrien's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting nutrien 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 | 1.02 | |||
| Semi Deviation | 1.06 | |||
| Standard Deviation | 1.37 | |||
| Variance | 1.86 | |||
| Downside Variance | 1.63 | |||
| Semi Variance | 1.13 | |||
| Expected Short fall | (1.15) |
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 Nutrien
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 Nutrien 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 Nutrien will appreciate offsetting losses from the drop in the long position's value.Moving against Nutrien Stock
| 0.5 | FUND | Katipult Technology Corp | PairCorr |
| 0.49 | THRM | Therma Bright | PairCorr |
| 0.41 | INFM | Infinico Metals Corp | PairCorr |
The ability to find closely correlated positions to Nutrien could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nutrien 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 Nutrien - 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 Nutrien to buy it.
The correlation of Nutrien 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 Nutrien moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nutrien 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 Nutrien 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 Nutrien to cross-verify your projections. To learn how to invest in Nutrien Stock, please use our How to Invest in Nutrien guide.You can also try the Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.