Bristol Myers Pink Sheet Forecast - Naive Prediction
| BMYMP Stock | USD 1,006 15.55 1.57% |
The Naive Prediction forecasted value of Bristol Myers Squibb on the next trading day is expected to be 1,112 with a mean absolute deviation of 29.00 and the sum of the absolute errors of 1,769. Bristol Pink Sheet Forecast is based on your current time horizon.
Bristol |
Bristol Myers Naive Prediction Price Forecast For the 22nd of November
Given 90 days horizon, the Naive Prediction forecasted value of Bristol Myers Squibb on the next trading day is expected to be 1,112 with a mean absolute deviation of 29.00, mean absolute percentage error of 1,234, and the sum of the absolute errors of 1,769.Please note that although there have been many attempts to predict Bristol Pink Sheet 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 Bristol Myers' next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Bristol Myers Pink Sheet Forecast Pattern
| Backtest Bristol Myers | Bristol Myers Price Prediction | Buy or Sell Advice |
Bristol Myers Forecasted Value
In the context of forecasting Bristol Myers' Pink Sheet 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. Bristol Myers' downside and upside margins for the forecasting period are 1,109 and 1,116, respectively. We have considered Bristol Myers' 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 Bristol Myers pink sheet data series using in forecasting. Note that when a statistical model is used to represent Bristol Myers pink sheet, 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 | 125.2285 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 28.9983 |
| MAPE | Mean absolute percentage error | 0.0339 |
| SAE | Sum of the absolute errors | 1768.8962 |
Predictive Modules for Bristol Myers
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Bristol Myers Squibb. Regardless of method or technology, however, to accurately forecast the pink sheet market is more a matter of luck rather than a particular technique. Nevertheless, trying to predict the pink sheet 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 Bristol Myers
For every potential investor in Bristol, whether a beginner or expert, Bristol Myers' price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Bristol Pink Sheet price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Bristol. Basic forecasting techniques help filter out the noise by identifying Bristol Myers' price trends.Bristol Myers 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 Bristol Myers pink sheet to make a market-neutral strategy. Peer analysis of Bristol Myers could also be used in its relative valuation, which is a method of valuing Bristol Myers by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Bristol Myers Squibb Technical and Predictive Analytics
The pink sheet market is financially volatile. Despite the volatility, there exist limitless possibilities of gaining profits and building passive income portfolios. With the complexity of Bristol Myers' 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 Bristol Myers' current price.| Cycle Indicators | ||
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| Math Transform | ||
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| Overlap Studies | ||
| Pattern Recognition | ||
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Bristol Myers Market Strength Events
Market strength indicators help investors to evaluate how Bristol Myers pink sheet reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Bristol Myers shares will generate the highest return on investment. By undertsting and applying Bristol Myers pink sheet market strength indicators, traders can identify Bristol Myers Squibb entry and exit signals to maximize returns.
| Daily Balance Of Power | 9.2 T | |||
| Rate Of Daily Change | 1.02 | |||
| Day Median Price | 1005.55 | |||
| Day Typical Price | 1005.55 | |||
| Price Action Indicator | 7.77 | |||
| Period Momentum Indicator | 15.55 | |||
| Relative Strength Index | 79.53 |
Bristol Myers Risk Indicators
The analysis of Bristol Myers' 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 Bristol Myers' investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting bristol pink sheet 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 | 1.49 | |||
| Standard Deviation | 3.39 | |||
| Variance | 11.47 |
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 Bristol Myers
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 Bristol Myers 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 Bristol Myers will appreciate offsetting losses from the drop in the long position's value.Moving against Bristol Pink Sheet
| 0.82 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.79 | KO | Coca Cola Aggressive Push | PairCorr |
| 0.74 | PFE | Pfizer Inc Fiscal Year End 4th of February 2025 | PairCorr |
| 0.63 | JNJ | Johnson Johnson Fiscal Year End 28th of January 2025 | PairCorr |
| 0.62 | LNDNF | Lundin Energy AB | PairCorr |
The ability to find closely correlated positions to Bristol Myers could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bristol Myers 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 Bristol Myers - 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 Bristol Myers Squibb to buy it.
The correlation of Bristol Myers 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 Bristol Myers moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bristol Myers Squibb 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 Bristol Myers 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 Bristol Pink Sheet Analysis
When running Bristol Myers' price analysis, check to measure Bristol Myers' 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 Bristol Myers is operating at the current time. Most of Bristol Myers' value examination focuses on studying past and present price action to predict the probability of Bristol Myers' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Bristol Myers' price. Additionally, you may evaluate how the addition of Bristol Myers to your portfolios can decrease your overall portfolio volatility.