Foot Locker Stock Forecast - Naive Prediction
| FL Stock | USD 23.13 0.68 3.03% |
The Naive Prediction forecasted value of Foot Locker on the next trading day is expected to be 20.54 with a mean absolute deviation of 0.90 and the sum of the absolute errors of 54.90. Foot Stock Forecast is based on your current time horizon. Although Foot Locker's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Foot Locker's systematic risk associated with finding meaningful patterns of Foot Locker fundamentals over time.
Foot |
Foot Locker Cash Forecast
To forecast cash or other financial indicators, analysts must employ diverse statistical methods, techniques, and algorithms. This approach allows them to detect underlying patterns in the Foot Locker's financial statements, predicting their influence on future market prices.
Cash | First Reported 1986-01-31 | Previous Quarter 282 M | Current Value 291 M | Quarterly Volatility 420.7 M |
Foot Locker Naive Prediction Price Forecast For the 26th of November
Given 90 days horizon, the Naive Prediction forecasted value of Foot Locker on the next trading day is expected to be 20.54 with a mean absolute deviation of 0.90, mean absolute percentage error of 1.22, and the sum of the absolute errors of 54.90.Please note that although there have been many attempts to predict Foot 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 Foot Locker's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Foot Locker Stock Forecast Pattern
| Backtest Foot Locker | Foot Locker Price Prediction | Buy or Sell Advice |
Foot Locker Forecasted Value
In the context of forecasting Foot Locker'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. Foot Locker's downside and upside margins for the forecasting period are 17.56 and 23.53, respectively. We have considered Foot Locker'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 Naive Prediction forecasting method's relative quality and the estimations of the prediction error of Foot Locker stock data series using in forecasting. Note that when a statistical model is used to represent Foot Locker 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 | 118.3082 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 0.9001 |
| MAPE | Mean absolute percentage error | 0.036 |
| SAE | Sum of the absolute errors | 54.9036 |
Predictive Modules for Foot Locker
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Foot Locker. 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 Foot Locker
For every potential investor in Foot, whether a beginner or expert, Foot Locker's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Foot Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Foot. Basic forecasting techniques help filter out the noise by identifying Foot Locker's price trends.Foot Locker 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 Foot Locker stock to make a market-neutral strategy. Peer analysis of Foot Locker could also be used in its relative valuation, which is a method of valuing Foot Locker by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Foot Locker 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 Foot Locker'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 Foot Locker's current price.| Cycle Indicators | ||
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Foot Locker Market Strength Events
Market strength indicators help investors to evaluate how Foot Locker stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Foot Locker shares will generate the highest return on investment. By undertsting and applying Foot Locker stock market strength indicators, traders can identify Foot Locker entry and exit signals to maximize returns.
Foot Locker Risk Indicators
The analysis of Foot Locker'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 Foot Locker's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting foot 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 | 2.18 | |||
| Standard Deviation | 2.94 | |||
| Variance | 8.64 |
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.
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Try AI Portfolio ArchitectCheck out Historical Fundamental Analysis of Foot Locker to cross-verify your projections. For more information on how to buy Foot Stock please use our How to buy in Foot Stock guide.You can also try the Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
Is Specialty Retail 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 Foot Locker. If investors know Foot 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 Foot Locker listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.78) | Earnings Share (3.88) | Revenue Per Share 86.173 | Quarterly Revenue Growth 0.019 | Return On Assets 0.0118 |
The market value of Foot Locker is measured differently than its book value, which is the value of Foot that is recorded on the company's balance sheet. Investors also form their own opinion of Foot Locker's value that differs from its market value or its book value, called intrinsic value, which is Foot Locker'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 Foot Locker's market value can be influenced by many factors that don't directly affect Foot Locker'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 Foot Locker's value and its price as these two are different measures arrived at by different means. Investors typically determine if Foot Locker is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Foot Locker'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.