Canaan Stock Forecast - Double Exponential Smoothing
| CAN Stock | USD 0.74 0.02 2.63% |
The Double Exponential Smoothing forecasted value of Canaan Inc on the next trading day is expected to be 0.73 with a mean absolute deviation of 0.05 and the sum of the absolute errors of 3.04. Canaan Stock Forecast is based on your current time horizon.
As of today, the value of RSI of Canaan's share price is approaching 36 suggesting that the stock is in nutural position, most likellhy at or near its support level. The main point of RSI analysis is to track how fast people are buying or selling Canaan, making its price go up or down. Momentum 36
Sell Extended
Oversold | Overbought |
Using Canaan hype-based prediction, you can estimate the value of Canaan Inc from the perspective of Canaan response to recently generated media hype and the effects of current headlines on its competitors.
The Double Exponential Smoothing forecasted value of Canaan Inc on the next trading day is expected to be 0.73 with a mean absolute deviation of 0.05 and the sum of the absolute errors of 3.04. Canaan after-hype prediction price | USD 0.74 |
There is no one specific way to measure market sentiment using hype analysis or a similar predictive technique. This prediction method should be used in combination with more fundamental and traditional techniques such as stock price forecasting, technical analysis, analysts consensus, earnings estimates, and various momentum models.
Check out Historical Fundamental Analysis of Canaan to cross-verify your projections. Canaan Additional Predictive Modules
Most predictive techniques to examine Canaan price help traders to determine how to time the market. We provide a combination of tools to recognize potential entry and exit points for Canaan using various technical indicators. When you analyze Canaan charts, please remember that the event formation may indicate an entry point for a short seller, and look at other indicators across different periods to confirm that a breakdown or reversion is likely to occur.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
Canaan Double Exponential Smoothing Price Forecast For the 23rd of January
Given 90 days horizon, the Double Exponential Smoothing forecasted value of Canaan Inc on the next trading day is expected to be 0.73 with a mean absolute deviation of 0.05, mean absolute percentage error of 0.01, and the sum of the absolute errors of 3.04.Please note that although there have been many attempts to predict Canaan 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 Canaan's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Canaan Stock Forecast Pattern
| Backtest Canaan | Canaan Price Prediction | Buy or Sell Advice |
Canaan Forecasted Value
In the context of forecasting Canaan'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. Canaan's downside and upside margins for the forecasting period are 0.01 and 7.82, respectively. We have considered Canaan'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 Double Exponential Smoothing forecasting method's relative quality and the estimations of the prediction error of Canaan stock data series using in forecasting. Note that when a statistical model is used to represent Canaan 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 | Huge |
| Bias | Arithmetic mean of the errors | -0.012 |
| MAD | Mean absolute deviation | 0.0515 |
| MAPE | Mean absolute percentage error | 0.0517 |
| SAE | Sum of the absolute errors | 3.0403 |
Predictive Modules for Canaan
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Canaan Inc. 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.Canaan After-Hype Price Prediction Density Analysis
As far as predicting the price of Canaan at your current risk attitude, this probability distribution graph shows the chance that the prediction will fall between or within a specific range. We use this chart to confirm that your returns on investing in Canaan or, for that matter, your successful expectations of its future price, cannot be replicated consistently. Please note, a large amount of money has been lost over the years by many investors who confused the symmetrical distributions of Stock prices, such as prices of Canaan, with the unreliable approximations that try to describe financial returns.
Next price density |
| Expected price to next headline |
Canaan Estimiated After-Hype Price Volatility
In the context of predicting Canaan's stock value on the day after the next significant headline, we show statistically significant boundaries of downside and upside scenarios based on Canaan's historical news coverage. Canaan's after-hype downside and upside margins for the prediction period are 0.04 and 7.83, respectively. We have considered Canaan's daily market price in relation to the headlines to evaluate this method's predictive performance. Remember, however, there is no scientific proof or empirical evidence that news-based prediction models outperform traditional linear, nonlinear models or artificial intelligence models to provide accurate predictions consistently.
Current Value
Canaan is out of control at this time. Analysis and calculation of next after-hype price of Canaan Inc is based on 3 months time horizon.
Canaan Stock Price Prediction Analysis
Have you ever been surprised when a price of a Company such as Canaan is soaring high without any particular reason? This is usually happening because many institutional investors are aggressively trading Canaan backward and forwards among themselves. Have you ever observed a lot of a particular company's price movement is driven by press releases or news about the company that has nothing to do with actual earnings? Usually, hype to individual companies acts as price momentum. If not enough favorable publicity is forthcoming, the Stock price eventually runs out of speed. So, the rule of thumb here is that as long as this news hype has nothing to do with immediate earnings, you should pay more attention to it. If you see this tendency with Canaan, there might be something going there, and it might present an excellent short sale opportunity.
| Expected Return | Period Volatility | Hype Elasticity | Related Elasticity | News Density | Related Density | Expected Hype |
1.28 | 7.09 | 0.00 | 0.02 | 0 Events / Month | 5 Events / Month | In 5 to 10 days |
| Latest traded price | Expected after-news price | Potential return on next major news | Average after-hype volatility | ||
0.74 | 0.74 | 0.00 |
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Canaan Hype Timeline
On the 22nd of January Canaan Inc is traded for 0.74. The entity stock is not elastic to its hype. The average elasticity to hype of competition is 0.02. Canaan is forecasted not to react to the next headline, with the price staying at about the same level, and average media hype impact volatility is insignificant. The immediate return on the next news is forecasted to be very small, whereas the daily expected return is currently at -1.28%. %. The volatility of related hype on Canaan is about 41705.88%, with the expected price after the next announcement by competition of 0.76. About 16.0% of the company shares are held by institutions such as insurance companies. The company has price-to-book (P/B) ratio of 1.3. Some equities with similar Price to Book (P/B) outperform the market in the long run. Canaan Inc recorded a loss per share of 0.88. The entity had not issued any dividends in recent years. Considering the 90-day investment horizon the next forecasted press release will be in 5 to 10 days. Check out Historical Fundamental Analysis of Canaan to cross-verify your projections.Canaan Related Hype Analysis
Having access to credible news sources related to Canaan's direct competition is more important than ever and may enhance your ability to predict Canaan's future price movements. Getting to know how Canaan's peers react to changing market sentiment, related social signals, and mainstream news is a great way to find investing opportunities and time the market. The summary table below summarizes the essential lagging indicators that can help you analyze how Canaan may potentially react to the hype associated with one of its peers.
| HypeElasticity | NewsDensity | SemiDeviation | InformationRatio | PotentialUpside | ValueAt Risk | MaximumDrawdown | |||
| BMBL | Bumble Inc | 0.05 | 11 per month | 0.00 | (0.16) | 3.85 | (4.39) | 29.73 | |
| WOLF | Wolfspeed | 0.00 | 0 per month | 0.00 | (0.13) | 9.02 | (7.83) | 22.69 | |
| BGIN | Bgin Blockchain Limited | 0.00 | 0 per month | 0.00 | (0.08) | 8.37 | (9.12) | 25.24 | |
| BLZE | Backblaze | 0.02 | 9 per month | 0.00 | (0.17) | 5.46 | (6.25) | 42.64 | |
| POET | POET Technologies | 0.61 | 6 per month | 5.81 | 0.02 | 12.59 | (9.96) | 38.39 | |
| DJCO | Daily Journal Corp | 0.00 | 0 per month | 3.44 | 0.19 | 7.60 | (4.37) | 21.24 | |
| DDD | 3D Systems | 0.00 | 0 per month | 0.00 | (0.02) | 8.33 | (7.30) | 26.42 | |
| SPT | Sprout Social | (0.54) | 10 per month | 0.00 | (0.05) | 4.85 | (4.93) | 15.22 | |
| CCSI | Consensus Cloud Solutions | (0.44) | 9 per month | 0.00 | (0.09) | 3.56 | (5.06) | 20.98 | |
| DOMO | Domo Inc | 0.47 | 10 per month | 0.00 | (0.22) | 5.21 | (7.64) | 28.80 |
Other Forecasting Options for Canaan
For every potential investor in Canaan, whether a beginner or expert, Canaan's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Canaan Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Canaan. Basic forecasting techniques help filter out the noise by identifying Canaan's price trends.Canaan 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 Canaan stock to make a market-neutral strategy. Peer analysis of Canaan could also be used in its relative valuation, which is a method of valuing Canaan by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Canaan Market Strength Events
Market strength indicators help investors to evaluate how Canaan stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Canaan shares will generate the highest return on investment. By undertsting and applying Canaan stock market strength indicators, traders can identify Canaan Inc entry and exit signals to maximize returns.
Canaan Risk Indicators
The analysis of Canaan'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 Canaan's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting canaan 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 | 5.28 | |||
| Standard Deviation | 7.09 | |||
| Variance | 50.32 |
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.
Story Coverage note for Canaan
The number of cover stories for Canaan depends on current market conditions and Canaan's risk-adjusted performance over time. The coverage that generates the most noise at a given time depends on the prevailing investment theme that Canaan is classified under. However, while its typical story may have numerous social followers, the rapid visibility can also attract short-sellers, who usually are skeptical about Canaan's long-term prospects. So, having above-average coverage will typically attract above-average short interest, leading to significant price volatility.
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Canaan Short Properties
Canaan's future price predictability will typically decrease when Canaan's long traders begin to feel the short-sellers pressure to drive the price lower. The predictive aspect of Canaan Inc often depends not only on the future outlook of the potential Canaan's investors but also on the ongoing dynamics between investors with different trading styles. Because the market risk indicators may have small false signals, it is better to identify suitable times to hedge a portfolio using different long/short signals. Canaan's indicators that are reflective of the short sentiment are summarized in the table below.
| Common Stock Shares Outstanding | 271.5 M | |
| Cash And Short Term Investments | 96.5 M |
Check out Historical Fundamental Analysis of Canaan to cross-verify your projections. You can also try the Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
Is Stock space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Canaan. If investors know Canaan will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Canaan listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of Canaan Inc is measured differently than its book value, which is the value of Canaan that is recorded on the company's balance sheet. Investors also form their own opinion of Canaan's value that differs from its market value or its book value, called intrinsic value, which is Canaan's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Canaan's market value can be influenced by many factors that don't directly affect Canaan's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Canaan's value and its price as these two are different measures arrived at by different means. Investors typically determine if Canaan is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Canaan's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.