Baker Hughes Stock Forecast - Simple Exponential Smoothing
| BKR Stock | USD 43.55 0.70 1.58% |
The Simple Exponential Smoothing forecasted value of Baker Hughes Co on the next trading day is expected to be 43.55 with a mean absolute deviation of 0.51 and the sum of the absolute errors of 30.58. Baker Stock Forecast is based on your current time horizon. Although Baker Hughes' naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Baker Hughes' systematic risk associated with finding meaningful patterns of Baker Hughes fundamentals over time.
Baker |
Baker Hughes Simple Exponential Smoothing Price Forecast For the 26th of November
Given 90 days horizon, the Simple Exponential Smoothing forecasted value of Baker Hughes Co on the next trading day is expected to be 43.55 with a mean absolute deviation of 0.51, mean absolute percentage error of 0.64, and the sum of the absolute errors of 30.58.Please note that although there have been many attempts to predict Baker 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 Baker Hughes' next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Baker Hughes Stock Forecast Pattern
| Backtest Baker Hughes | Baker Hughes Price Prediction | Buy or Sell Advice |
Baker Hughes Forecasted Value
In the context of forecasting Baker Hughes' 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. Baker Hughes' downside and upside margins for the forecasting period are 41.50 and 45.60, respectively. We have considered Baker Hughes' 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 Baker Hughes stock data series using in forecasting. Note that when a statistical model is used to represent Baker Hughes 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 | 115.8257 |
| Bias | Arithmetic mean of the errors | -0.143 |
| MAD | Mean absolute deviation | 0.5097 |
| MAPE | Mean absolute percentage error | 0.0133 |
| SAE | Sum of the absolute errors | 30.58 |
Predictive Modules for Baker Hughes
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Baker Hughes. 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 Baker Hughes
For every potential investor in Baker, whether a beginner or expert, Baker Hughes' price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Baker Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Baker. Basic forecasting techniques help filter out the noise by identifying Baker Hughes' price trends.View Baker Hughes Related Equities
| Risk & Return | Correlation |
Baker Hughes 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 Baker Hughes' 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 Baker Hughes' current price.| Cycle Indicators | ||
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| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
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| Volume Indicators |
Baker Hughes Market Strength Events
Market strength indicators help investors to evaluate how Baker Hughes stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Baker Hughes shares will generate the highest return on investment. By undertsting and applying Baker Hughes stock market strength indicators, traders can identify Baker Hughes Co entry and exit signals to maximize returns.
| Accumulation Distribution | 303330.0 | |||
| Daily Balance Of Power | (0.50) | |||
| Rate Of Daily Change | 0.98 | |||
| Day Median Price | 43.94 | |||
| Day Typical Price | 43.81 | |||
| Price Action Indicator | (0.74) | |||
| Period Momentum Indicator | (0.70) | |||
| Relative Strength Index | 83.11 |
Baker Hughes Risk Indicators
The analysis of Baker Hughes' 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 Baker Hughes' investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting baker 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 | 1.3 | |||
| Semi Deviation | 0.9887 | |||
| Standard Deviation | 2.01 | |||
| Variance | 4.03 | |||
| Downside Variance | 1.96 | |||
| Semi Variance | 0.9775 | |||
| Expected Short fall | (1.54) |
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 Baker Hughes
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 Baker Hughes 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 Baker Hughes will appreciate offsetting losses from the drop in the long position's value.Moving together with Baker Stock
Moving against Baker Stock
| 0.75 | TDW | Tidewater | PairCorr |
| 0.72 | XPRO | Expro Group Holdings | PairCorr |
| 0.55 | DTI | Drilling Tools Inter | PairCorr |
| 0.38 | WFRD | Weatherford International | PairCorr |
| 0.37 | ENSV | Enservco | PairCorr |
The ability to find closely correlated positions to Baker Hughes could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Baker Hughes 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 Baker Hughes - 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 Baker Hughes Co to buy it.
The correlation of Baker Hughes 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 Baker Hughes moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Baker Hughes 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 Baker Hughes 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.Additional Tools for Baker Stock Analysis
When running Baker Hughes' price analysis, check to measure Baker Hughes' 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 Baker Hughes is operating at the current time. Most of Baker Hughes' value examination focuses on studying past and present price action to predict the probability of Baker Hughes' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Baker Hughes' price. Additionally, you may evaluate how the addition of Baker Hughes to your portfolios can decrease your overall portfolio volatility.