Narragansett Electric Pink Sheet Forecast - Polynomial Regression
| NRGSPDelisted Stock | USD 55.00 0.00 0.00% |
The Polynomial Regression forecasted value of The Narragansett Electric on the next trading day is expected to be 57.19 with a mean absolute deviation of 0.79 and the sum of the absolute errors of 48.18. Narragansett Pink Sheet Forecast is based on your current time horizon.
Narragansett |
Narragansett Electric Polynomial Regression Price Forecast For the 11th of January 2025
Given 90 days horizon, the Polynomial Regression forecasted value of The Narragansett Electric on the next trading day is expected to be 57.19 with a mean absolute deviation of 0.79, mean absolute percentage error of 1.07, and the sum of the absolute errors of 48.18.Please note that although there have been many attempts to predict Narragansett 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 Narragansett Electric's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Narragansett Electric Pink Sheet Forecast Pattern
| Backtest Narragansett Electric | Narragansett Electric Price Prediction | Buy or Sell Advice |
Model Predictive Factors
The below table displays some essential indicators generated by the model showing the Polynomial Regression forecasting method's relative quality and the estimations of the prediction error of Narragansett Electric pink sheet data series using in forecasting. Note that when a statistical model is used to represent Narragansett Electric 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 | 118.174 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 0.7898 |
| MAPE | Mean absolute percentage error | 0.0161 |
| SAE | Sum of the absolute errors | 48.1786 |
Predictive Modules for Narragansett Electric
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as The Narragansett Electric. 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.Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Narragansett Electric's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Narragansett Electric 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 Narragansett Electric pink sheet to make a market-neutral strategy. Peer analysis of Narragansett Electric could also be used in its relative valuation, which is a method of valuing Narragansett Electric by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Narragansett Electric Market Strength Events
Market strength indicators help investors to evaluate how Narragansett Electric 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 Narragansett Electric shares will generate the highest return on investment. By undertsting and applying Narragansett Electric pink sheet market strength indicators, traders can identify The Narragansett Electric entry and exit signals to maximize returns.
Narragansett Electric Risk Indicators
The analysis of Narragansett Electric'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 Narragansett Electric's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting narragansett pink sheet 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 | 0.5741 | |||
| Standard Deviation | 1.63 | |||
| Variance | 2.66 |
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 Narragansett Electric
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 Narragansett Electric 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 Narragansett Electric will appreciate offsetting losses from the drop in the long position's value.Moving together with Narragansett Pink Sheet
Moving against Narragansett Pink Sheet
| 0.94 | CVPBF | CP ALL Public | PairCorr |
| 0.86 | SCVPF | Siam Cement | PairCorr |
| 0.86 | OAK-PB | Oaktree Capital Group | PairCorr |
| 0.85 | HNHPF | Hon Hai Precision | PairCorr |
| 0.83 | NMPWP | Niagara Mohawk Power | PairCorr |
The ability to find closely correlated positions to Narragansett Electric could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Narragansett Electric 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 Narragansett Electric - 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 The Narragansett Electric to buy it.
The correlation of Narragansett Electric 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 Narragansett Electric moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if The Narragansett Electric 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 Narragansett Electric 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.Check out Correlation Analysis to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state. You can also try the Global Correlations module to find global opportunities by holding instruments from different markets.
Other Consideration for investing in Narragansett Pink Sheet
If you are still planning to invest in The Narragansett Electric check if it may still be traded through OTC markets such as Pink Sheets or OTC Bulletin Board. You may also purchase it directly from the company, but this is not always possible and may require contacting the company directly. Please note that delisted stocks are often considered to be more risky investments, as they are no longer subject to the same regulatory and reporting requirements as listed stocks. Therefore, it is essential to carefully research the Narragansett Electric's history and understand the potential risks before investing.
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