Skycity Entertainment Stock Forecast - Naive Prediction
| SKC Stock | 1.31 0.03 2.24% |
The Naive Prediction forecasted value of Skycity Entertainment Group on the next trading day is expected to be 1.32 with a mean absolute deviation of 0.02 and the sum of the absolute errors of 1.39. Skycity Stock Forecast is based on your current time horizon.
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Skycity Entertainment Naive Prediction Price Forecast For the 30th of November
Given 90 days horizon, the Naive Prediction forecasted value of Skycity Entertainment Group on the next trading day is expected to be 1.32 with a mean absolute deviation of 0.02, mean absolute percentage error of 0.0008, and the sum of the absolute errors of 1.39.Please note that although there have been many attempts to predict Skycity 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 Skycity Entertainment's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Skycity Entertainment Stock Forecast Pattern
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Skycity Entertainment Forecasted Value
In the context of forecasting Skycity Entertainment'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. Skycity Entertainment's downside and upside margins for the forecasting period are 0.01 and 3.87, respectively. We have considered Skycity Entertainment'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 Naive Prediction forecasting method's relative quality and the estimations of the prediction error of Skycity Entertainment stock data series using in forecasting. Note that when a statistical model is used to represent Skycity Entertainment 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 | 110.9834 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 0.0228 |
| MAPE | Mean absolute percentage error | 0.0177 |
| SAE | Sum of the absolute errors | 1.3883 |
Predictive Modules for Skycity Entertainment
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Skycity Entertainment. 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 Skycity Entertainment
For every potential investor in Skycity, whether a beginner or expert, Skycity Entertainment's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Skycity Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Skycity. Basic forecasting techniques help filter out the noise by identifying Skycity Entertainment's price trends.Skycity Entertainment 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 Skycity Entertainment stock to make a market-neutral strategy. Peer analysis of Skycity Entertainment could also be used in its relative valuation, which is a method of valuing Skycity Entertainment by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Skycity Entertainment 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 Skycity Entertainment'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 Skycity Entertainment's current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
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| Overlap Studies | ||
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| Volume Indicators |
Skycity Entertainment Market Strength Events
Market strength indicators help investors to evaluate how Skycity Entertainment stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Skycity Entertainment shares will generate the highest return on investment. By undertsting and applying Skycity Entertainment stock market strength indicators, traders can identify Skycity Entertainment Group entry and exit signals to maximize returns.
| Accumulation Distribution | 845.14 | |||
| Daily Balance Of Power | (1.50) | |||
| Rate Of Daily Change | 0.98 | |||
| Day Median Price | 1.32 | |||
| Day Typical Price | 1.32 | |||
| Price Action Indicator | (0.03) | |||
| Period Momentum Indicator | (0.03) |
Skycity Entertainment Risk Indicators
The analysis of Skycity Entertainment'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 Skycity Entertainment's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting skycity 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 | 1.78 | |||
| Semi Deviation | 2.24 | |||
| Standard Deviation | 2.62 | |||
| Variance | 6.87 | |||
| Downside Variance | 7.3 | |||
| Semi Variance | 5.02 | |||
| Expected Short fall | (2.30) |
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.
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Additional Tools for Skycity Stock Analysis
When running Skycity Entertainment's price analysis, check to measure Skycity Entertainment'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 Skycity Entertainment is operating at the current time. Most of Skycity Entertainment's value examination focuses on studying past and present price action to predict the probability of Skycity Entertainment's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Skycity Entertainment's price. Additionally, you may evaluate how the addition of Skycity Entertainment to your portfolios can decrease your overall portfolio volatility.