Excelsior Mining Stock Forecast - Naive Prediction
| MIN Stock | CAD 0.20 0.00 0.00% |
The Naive Prediction forecasted value of Excelsior Mining Corp on the next trading day is expected to be 0.20 with a mean absolute deviation of 0.01 and the sum of the absolute errors of 0.50. Excelsior Stock Forecast is based on your current time horizon. Although Excelsior Mining's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Excelsior Mining's systematic risk associated with finding meaningful patterns of Excelsior Mining fundamentals over time.
Excelsior |
Excelsior Mining Naive Prediction Price Forecast For the 18th of February 2025
Given 90 days horizon, the Naive Prediction forecasted value of Excelsior Mining Corp on the next trading day is expected to be 0.20 with a mean absolute deviation of 0.01, mean absolute percentage error of 0.0001, and the sum of the absolute errors of 0.50.Please note that although there have been many attempts to predict Excelsior 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 Excelsior Mining's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Excelsior Mining Stock Forecast Pattern
| Backtest Excelsior Mining | Excelsior Mining Price Prediction | Buy or Sell Advice |
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 Excelsior Mining stock data series using in forecasting. Note that when a statistical model is used to represent Excelsior Mining 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 | 109.1012 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 0.0082 |
| MAPE | Mean absolute percentage error | 0.0463 |
| SAE | Sum of the absolute errors | 0.4986 |
Predictive Modules for Excelsior Mining
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Excelsior Mining Corp. 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.Excelsior Mining 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 Excelsior Mining stock to make a market-neutral strategy. Peer analysis of Excelsior Mining could also be used in its relative valuation, which is a method of valuing Excelsior Mining by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Excelsior Mining Market Strength Events
Market strength indicators help investors to evaluate how Excelsior Mining stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Excelsior Mining shares will generate the highest return on investment. By undertsting and applying Excelsior Mining stock market strength indicators, traders can identify Excelsior Mining Corp entry and exit signals to maximize returns.
Excelsior Mining Risk Indicators
The analysis of Excelsior Mining'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 Excelsior Mining's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting excelsior 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 | 4.66 | |||
| Semi Deviation | 4.5 | |||
| Standard Deviation | 7.71 | |||
| Variance | 59.37 | |||
| Downside Variance | 57.76 | |||
| Semi Variance | 20.28 | |||
| Expected Short fall | (9.15) |
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 Excelsior Mining
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 Excelsior Mining 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 Excelsior Mining will appreciate offsetting losses from the drop in the long position's value.Moving together with Excelsior Stock
Moving against Excelsior Stock
| 0.74 | INFM | Infinico Metals Corp | PairCorr |
| 0.73 | VZ | Verizon Communications | PairCorr |
| 0.71 | IE | Ivanhoe Energy | PairCorr |
| 0.47 | AG | First Majestic Silver | PairCorr |
| 0.47 | XOM | EXXON MOBIL CDR | PairCorr |
The ability to find closely correlated positions to Excelsior Mining could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Excelsior Mining 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 Excelsior Mining - 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 Excelsior Mining Corp to buy it.
The correlation of Excelsior Mining 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 Excelsior Mining moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Excelsior Mining Corp 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 Excelsior Mining 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.Other Information on Investing in Excelsior Stock
Excelsior Mining financial ratios help investors to determine whether Excelsior Stock 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 Excelsior with respect to the benefits of owning Excelsior Mining security.