Hennessy Gas Mutual Fund Forecast - Simple Regression

GASFX Fund  USD 27.29  0.35  1.27%   
The Simple Regression forecasted value of Hennessy Gas Utility on the next trading day is expected to be 29.35 with a mean absolute deviation of 0.46 and the sum of the absolute errors of 28.18. Hennessy Mutual Fund Forecast is based on your current time horizon.
  
Simple Regression model is a single variable regression model that attempts to put a straight line through Hennessy Gas price points. This line is defined by its gradient or slope, and the point at which it intercepts the x-axis. Mathematically, assuming the independent variable is X and the dependent variable is Y, then this line can be represented as: Y = intercept + slope * X.

Hennessy Gas Simple Regression Price Forecast For the 12th of December 2024

Given 90 days horizon, the Simple Regression forecasted value of Hennessy Gas Utility on the next trading day is expected to be 29.35 with a mean absolute deviation of 0.46, mean absolute percentage error of 0.44, and the sum of the absolute errors of 28.18.
Please note that although there have been many attempts to predict Hennessy Mutual Fund 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 Hennessy Gas' next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).

Hennessy Gas Mutual Fund Forecast Pattern

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Hennessy Gas Forecasted Value

In the context of forecasting Hennessy Gas' Mutual Fund 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. Hennessy Gas' downside and upside margins for the forecasting period are 28.36 and 30.34, respectively. We have considered Hennessy Gas' 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.
Market Value
27.29
29.35
Expected Value
30.34
Upside

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 Hennessy Gas mutual fund data series using in forecasting. Note that when a statistical model is used to represent Hennessy Gas mutual fund, 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.
AICAkaike Information Criteria117.2878
BiasArithmetic mean of the errors None
MADMean absolute deviation0.4619
MAPEMean absolute percentage error0.0163
SAESum of the absolute errors28.1771
In general, regression methods applied to historical equity returns or prices series is an area of active research. In recent decades, new methods have been developed for robust regression of price series such as Hennessy Gas Utility historical returns. These new methods are regression involving correlated responses such as growth curves and different regression methods accommodating various types of missing data.

Predictive Modules for Hennessy Gas

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Hennessy Gas Utility. Regardless of method or technology, however, to accurately forecast the mutual fund market is more a matter of luck rather than a particular technique. Nevertheless, trying to predict the mutual fund 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
LowEstimatedHigh
26.3027.2928.28
Details
Intrinsic
Valuation
LowRealHigh
26.5827.5728.56
Details
Bollinger
Band Projection (param)
LowMiddleHigh
26.6428.5630.48
Details
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Hennessy Gas. Your research has to be compared to or analyzed against Hennessy Gas' peers to derive any actionable benefits. When done correctly, Hennessy Gas' competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Hennessy Gas Utility.

Other Forecasting Options for Hennessy Gas

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

Hennessy Gas 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 Hennessy Gas mutual fund to make a market-neutral strategy. Peer analysis of Hennessy Gas could also be used in its relative valuation, which is a method of valuing Hennessy Gas by comparing valuation metrics with similar companies.
 Risk & Return  Correlation

Hennessy Gas Utility Technical and Predictive Analytics

The mutual fund market is financially volatile. Despite the volatility, there exist limitless possibilities of gaining profits and building passive income portfolios. With the complexity of Hennessy Gas' 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 Hennessy Gas' current price.

Hennessy Gas Market Strength Events

Market strength indicators help investors to evaluate how Hennessy Gas mutual fund reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Hennessy Gas shares will generate the highest return on investment. By undertsting and applying Hennessy Gas mutual fund market strength indicators, traders can identify Hennessy Gas Utility entry and exit signals to maximize returns.

Hennessy Gas Risk Indicators

The analysis of Hennessy Gas' 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 Hennessy Gas' investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting hennessy mutual fund 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.
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.

Also Currently Popular

Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.

Other Information on Investing in Hennessy Mutual Fund

Hennessy Gas financial ratios help investors to determine whether Hennessy Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Hennessy with respect to the benefits of owning Hennessy Gas security.
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