United Drilling Stock Forecast - Simple Exponential Smoothing
| UNIDT Stock | 275.05 0.35 0.13% |
The Simple Exponential Smoothing forecasted value of United Drilling Tools on the next trading day is expected to be 275.05 with a mean absolute deviation of 4.45 and the sum of the absolute errors of 266.85. United Stock Forecast is based on your current time horizon. Although United Drilling's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of United Drilling's systematic risk associated with finding meaningful patterns of United Drilling fundamentals over time.
United |
United Drilling Simple Exponential Smoothing Price Forecast For the 12th of December 2024
Given 90 days horizon, the Simple Exponential Smoothing forecasted value of United Drilling Tools on the next trading day is expected to be 275.05 with a mean absolute deviation of 4.45, mean absolute percentage error of 39.78, and the sum of the absolute errors of 266.85.Please note that although there have been many attempts to predict United 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 United Drilling's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
United Drilling Stock Forecast Pattern
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United Drilling Forecasted Value
In the context of forecasting United Drilling'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. United Drilling's downside and upside margins for the forecasting period are 272.51 and 277.59, respectively. We have considered United Drilling'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 Exponential Smoothing forecasting method's relative quality and the estimations of the prediction error of United Drilling stock data series using in forecasting. Note that when a statistical model is used to represent United Drilling 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 | 119.9561 |
| Bias | Arithmetic mean of the errors | -0.1992 |
| MAD | Mean absolute deviation | 4.4475 |
| MAPE | Mean absolute percentage error | 0.018 |
| SAE | Sum of the absolute errors | 266.85 |
Predictive Modules for United Drilling
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as United Drilling Tools. 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.Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of United Drilling's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Other Forecasting Options for United Drilling
For every potential investor in United, whether a beginner or expert, United Drilling's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. United Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in United. Basic forecasting techniques help filter out the noise by identifying United Drilling's price trends.United Drilling 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 United Drilling stock to make a market-neutral strategy. Peer analysis of United Drilling could also be used in its relative valuation, which is a method of valuing United Drilling by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
United Drilling Tools 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 United Drilling'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 United Drilling's current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
United Drilling Market Strength Events
Market strength indicators help investors to evaluate how United Drilling stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading United Drilling shares will generate the highest return on investment. By undertsting and applying United Drilling stock market strength indicators, traders can identify United Drilling Tools entry and exit signals to maximize returns.
| Accumulation Distribution | 3321.75 | |||
| Daily Balance Of Power | (0.02) | |||
| Rate Of Daily Change | 1.0 | |||
| Day Median Price | 281.43 | |||
| Day Typical Price | 279.3 | |||
| Market Facilitation Index | 3.0E-4 | |||
| Price Action Indicator | (6.55) | |||
| Period Momentum Indicator | (0.35) | |||
| Relative Strength Index | 48.13 |
United Drilling Risk Indicators
The analysis of United Drilling'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 United Drilling's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting united 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 | 1.77 | |||
| Semi Deviation | 2.53 | |||
| Standard Deviation | 2.57 | |||
| Variance | 6.61 | |||
| Downside Variance | 7.77 | |||
| Semi Variance | 6.42 | |||
| Expected Short fall | (1.68) |
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.
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.Other Information on Investing in United Stock
United Drilling financial ratios help investors to determine whether United Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in United with respect to the benefits of owning United Drilling security.