Noranda Aluminum Pink Sheet Forecast - Double Exponential Smoothing
| NORNQ Stock | USD 0.0007 0.00 0.00% |
The Double Exponential Smoothing forecasted value of Noranda Aluminum Holding on the next trading day is expected to be 0.0007 with a mean absolute deviation of 0.00 and the sum of the absolute errors of 0.00. Noranda Pink Sheet Forecast is based on your current time horizon.
Noranda |
Noranda Aluminum Double Exponential Smoothing Price Forecast For the 28th of December
Given 90 days horizon, the Double Exponential Smoothing forecasted value of Noranda Aluminum Holding on the next trading day is expected to be 0.0007 with a mean absolute deviation of 0.00, mean absolute percentage error of 0.00, and the sum of the absolute errors of 0.00.Please note that although there have been many attempts to predict Noranda Pink Sheet 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 Noranda Aluminum's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Noranda Aluminum Pink Sheet Forecast Pattern
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Noranda Aluminum Forecasted Value
In the context of forecasting Noranda Aluminum's Pink Sheet 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. Noranda Aluminum's downside and upside margins for the forecasting period are 0.0007 and 0.0007, respectively. We have considered Noranda Aluminum'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 Double Exponential Smoothing forecasting method's relative quality and the estimations of the prediction error of Noranda Aluminum pink sheet data series using in forecasting. Note that when a statistical model is used to represent Noranda Aluminum pink sheet, 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 | Huge |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 0.0 |
| MAPE | Mean absolute percentage error | 0.0 |
| SAE | Sum of the absolute errors | 0.0 |
Predictive Modules for Noranda Aluminum
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Noranda Aluminum Holding. Regardless of method or technology, however, to accurately forecast the pink sheet market is more a matter of luck rather than a particular technique. Nevertheless, trying to predict the pink sheet 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 Noranda Aluminum
For every potential investor in Noranda, whether a beginner or expert, Noranda Aluminum's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Noranda Pink Sheet price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Noranda. Basic forecasting techniques help filter out the noise by identifying Noranda Aluminum's price trends.Noranda Aluminum 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 Noranda Aluminum pink sheet to make a market-neutral strategy. Peer analysis of Noranda Aluminum could also be used in its relative valuation, which is a method of valuing Noranda Aluminum by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Noranda Aluminum Holding Technical and Predictive Analytics
The pink sheet market is financially volatile. Despite the volatility, there exist limitless possibilities of gaining profits and building passive income portfolios. With the complexity of Noranda Aluminum'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 Noranda Aluminum's current price.| Cycle Indicators | ||
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| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
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| Volume Indicators |
Noranda Aluminum Market Strength Events
Market strength indicators help investors to evaluate how Noranda Aluminum pink sheet reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Noranda Aluminum shares will generate the highest return on investment. By undertsting and applying Noranda Aluminum pink sheet market strength indicators, traders can identify Noranda Aluminum Holding entry and exit signals to maximize returns.
| Rate Of Daily Change | 1.0 | |||
| Day Median Price | 7.0E-4 | |||
| Day Typical Price | 7.0E-4 |
Pair Trading with Noranda Aluminum
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 Noranda Aluminum 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 Noranda Aluminum will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Noranda Aluminum could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Noranda Aluminum 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 Noranda Aluminum - 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 Noranda Aluminum Holding to buy it.
The correlation of Noranda Aluminum 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 Noranda Aluminum moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Noranda Aluminum Holding 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 Noranda Aluminum 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 Noranda Pink Sheet Analysis
When running Noranda Aluminum's price analysis, check to measure Noranda Aluminum'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 Noranda Aluminum is operating at the current time. Most of Noranda Aluminum's value examination focuses on studying past and present price action to predict the probability of Noranda Aluminum's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Noranda Aluminum's price. Additionally, you may evaluate how the addition of Noranda Aluminum to your portfolios can decrease your overall portfolio volatility.