Commonwealth Bank Stock Forecast - Polynomial Regression

Commonwealth Bank polinomial regression implements a single variable polynomial regression model using the daily prices as the independent variable. The coefficients of the regression for Commonwealth Bank as well as the accuracy indicators are determined from the period prices.

Commonwealth Bank Polynomial Regression Price Forecast For the 28th of November

Given 90 days horizon, the Polynomial Regression forecasted value of Commonwealth Bank on the next trading day is expected to be 160.28 with a mean absolute deviation of 2.18, mean absolute percentage error of 6.87, and the sum of the absolute errors of 135.33.

Commonwealth Bank Stock Forecast Pattern

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Commonwealth Bank Forecasted Value

Model Predictive Factors

The below table displays some essential indicators generated by the model showing the Polynomial Regression forecasting method's relative quality and the estimations of the prediction error of Commonwealth Bank stock data series using in forecasting. Note that when a statistical model is used to represent Commonwealth Bank 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. A single variable polynomial regression model attempts to put a curve through the Commonwealth Bank historical price points. Mathematically, assuming the independent variable is X and the dependent variable is Y, this line can be indicated as: Y = a₀ + a₁*X + a₂*X² + a₃*X³ + ... + a_m*X^m

Predictive Modules for Commonwealth Bank

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Commonwealth Bank. 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.

Hype Prediction Low Estimated High 153.36 154.61 155.86 Details

Intrinsic Valuation Low Real High 125.16 126.41 169.91 Details

Earnings Estimates (0) Low Projected EPS High 1.38 1.45 1.48 Details

Other Forecasting Options for Commonwealth Bank

For every potential investor in Commonwealth, whether a beginner or expert, Commonwealth Bank's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Commonwealth Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Commonwealth. Basic forecasting techniques help filter out the noise by identifying Commonwealth Bank's price trends.

Commonwealth Bank Related Equities

Risk & Return

Correlation

Commonwealth Bank 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 Commonwealth Bank'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 Commonwealth Bank's current price.

Commonwealth Bank Market Strength Events

Commonwealth Bank Risk Indicators

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