Electrocore LLC Stock Forecast - Simple Regression
| ECOR Stock | USD 11.35 0.14 1.25% |
The Simple Regression forecasted value of Electrocore LLC on the next trading day is expected to be 12.75 with a mean absolute deviation of 0.93 and the sum of the absolute errors of 57.68. Electrocore Stock Forecast is based on your current time horizon. Although Electrocore LLC's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Electrocore LLC's systematic risk associated with finding meaningful patterns of Electrocore LLC fundamentals over time.
Electrocore |
Electrocore LLC Simple Regression Price Forecast For the 27th of November
Given 90 days horizon, the Simple Regression forecasted value of Electrocore LLC on the next trading day is expected to be 12.75 with a mean absolute deviation of 0.93, mean absolute percentage error of 1.26, and the sum of the absolute errors of 57.68.Please note that although there have been many attempts to predict Electrocore 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 Electrocore LLC's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Electrocore LLC Stock Forecast Pattern
| Backtest Electrocore LLC | Electrocore LLC Price Prediction | Buy or Sell Advice |
Electrocore LLC Forecasted Value
In the context of forecasting Electrocore LLC'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. Electrocore LLC's downside and upside margins for the forecasting period are 7.49 and 18.01, respectively. We have considered Electrocore LLC'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 Regression forecasting method's relative quality and the estimations of the prediction error of Electrocore LLC stock data series using in forecasting. Note that when a statistical model is used to represent Electrocore LLC 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 | 120.1786 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 0.9303 |
| MAPE | Mean absolute percentage error | 0.099 |
| SAE | Sum of the absolute errors | 57.6776 |
Predictive Modules for Electrocore LLC
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Electrocore LLC. 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 Electrocore LLC
For every potential investor in Electrocore, whether a beginner or expert, Electrocore LLC's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Electrocore Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Electrocore. Basic forecasting techniques help filter out the noise by identifying Electrocore LLC's price trends.View Electrocore LLC Related Equities
| Risk & Return | Correlation |
Electrocore LLC 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 Electrocore LLC'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 Electrocore LLC's current price.| Cycle Indicators | ||
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| Volume Indicators |
Electrocore LLC Market Strength Events
Market strength indicators help investors to evaluate how Electrocore LLC stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Electrocore LLC shares will generate the highest return on investment. By undertsting and applying Electrocore LLC stock market strength indicators, traders can identify Electrocore LLC entry and exit signals to maximize returns.
Electrocore LLC Risk Indicators
The analysis of Electrocore LLC'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 Electrocore LLC's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting electrocore 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 | 3.59 | |||
| Semi Deviation | 4.37 | |||
| Standard Deviation | 5.15 | |||
| Variance | 26.51 | |||
| Downside Variance | 23.68 | |||
| Semi Variance | 19.11 | |||
| Expected Short fall | (4.52) |
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 Electrocore LLC
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 Electrocore LLC 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 Electrocore LLC will appreciate offsetting losses from the drop in the long position's value.Moving together with Electrocore Stock
Moving against Electrocore Stock
| 0.83 | AGL | agilon health Buyout Trend | PairCorr |
| 0.8 | EVH | Evolent Health | PairCorr |
| 0.78 | FORA | Forian Inc | PairCorr |
| 0.74 | AMN | AMN Healthcare Services | PairCorr |
| 0.7 | PHG | Koninklijke Philips | PairCorr |
The ability to find closely correlated positions to Electrocore LLC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Electrocore LLC 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 Electrocore LLC - 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 Electrocore LLC to buy it.
The correlation of Electrocore LLC 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 Electrocore LLC moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Electrocore LLC 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 Electrocore LLC 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 Electrocore Stock Analysis
When running Electrocore LLC's price analysis, check to measure Electrocore LLC's 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 Electrocore LLC is operating at the current time. Most of Electrocore LLC's value examination focuses on studying past and present price action to predict the probability of Electrocore LLC's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Electrocore LLC's price. Additionally, you may evaluate how the addition of Electrocore LLC to your portfolios can decrease your overall portfolio volatility.