EGX 33 Index Forecast - Double Exponential Smoothing

Double exponential smoothing - also known as Holt exponential smoothing is a refinement of the popular simple exponential smoothing model with an additional trending component. Double exponential smoothing model for EGX 33 works best with periods where there are trends or seasonality.

EGX 33 Double Exponential Smoothing Price Forecast For the 29th of November

Given 90 days horizon, the Double Exponential Smoothing forecasted value of EGX 33 Shariah on the next trading day is expected to be 3,094 with a mean absolute deviation of 30.39, mean absolute percentage error of 1,691, and the sum of the absolute errors of 1,793.

EGX 33 Index Forecast Pattern

EGX 33 Forecasted Value

Model Predictive Factors

The below table displays some essential indicators generated by the model showing the Double Exponential Smoothing forecasting method's relative quality and the estimations of the prediction error of EGX 33 index data series using in forecasting. Note that when a statistical model is used to represent EGX 33 index, 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. When EGX 33 Shariah 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 EGX 33 Shariah trend in the prices. So in double exponential smoothing past observations are given exponentially smaller weights as the observations get older. In other words, recent EGX 33 observations are given relatively more weight in forecasting than the older observations.

Predictive Modules for EGX 33

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as EGX 33 Shariah. Regardless of method or technology, however, to accurately forecast the index market is more a matter of luck rather than a particular technique. Nevertheless, trying to predict the index 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 EGX 33

For every potential investor in EGX, whether a beginner or expert, EGX 33's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. EGX Index price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in EGX. Basic forecasting techniques help filter out the noise by identifying EGX 33's price trends.

EGX 33 Related Equities

Risk & Return

Correlation

EGX 33 Shariah Technical and Predictive Analytics

The index market is financially volatile. Despite the volatility, there exist limitless possibilities of gaining profits and building passive income portfolios. With the complexity of EGX 33'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 EGX 33's current price.

EGX 33 Market Strength Events

EGX 33 Risk Indicators

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.