NMDC Steel Stock Forecast - Naive Prediction
| NSLNISP Stock | 36.41 0.73 2.05% |
The Naive Prediction forecasted value of NMDC Steel Limited on the next trading day is expected to be 36.53 with a mean absolute deviation of 0.87 and the sum of the absolute errors of 53.22. NMDC Stock Forecast is based on your current time horizon. Although NMDC Steel's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of NMDC Steel's systematic risk associated with finding meaningful patterns of NMDC Steel fundamentals over time.
NMDC |
NMDC Steel Naive Prediction Price Forecast For the 24th of March
Given 90 days horizon, the Naive Prediction forecasted value of NMDC Steel Limited on the next trading day is expected to be 36.53 with a mean absolute deviation of 0.87, mean absolute percentage error of 1.24, and the sum of the absolute errors of 53.22.Please note that although there have been many attempts to predict NMDC 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 NMDC Steel's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
NMDC Steel Stock Forecast Pattern
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NMDC Steel Forecasted Value
In the context of forecasting NMDC Steel'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. NMDC Steel's downside and upside margins for the forecasting period are 33.69 and 39.36, respectively. We have considered NMDC Steel'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 NMDC Steel stock data series using in forecasting. Note that when a statistical model is used to represent NMDC Steel 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 | 118.3256 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 0.8724 |
| MAPE | Mean absolute percentage error | 0.0229 |
| SAE | Sum of the absolute errors | 53.2173 |
Predictive Modules for NMDC Steel
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as NMDC Steel Limited. 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 NMDC Steel
For every potential investor in NMDC, whether a beginner or expert, NMDC Steel's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. NMDC Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in NMDC. Basic forecasting techniques help filter out the noise by identifying NMDC Steel's price trends.NMDC Steel 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 NMDC Steel stock to make a market-neutral strategy. Peer analysis of NMDC Steel could also be used in its relative valuation, which is a method of valuing NMDC Steel by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
NMDC Steel Limited 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 NMDC Steel'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 NMDC Steel's current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
NMDC Steel Market Strength Events
Market strength indicators help investors to evaluate how NMDC Steel stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading NMDC Steel shares will generate the highest return on investment. By undertsting and applying NMDC Steel stock market strength indicators, traders can identify NMDC Steel Limited entry and exit signals to maximize returns.
NMDC Steel Risk Indicators
The analysis of NMDC Steel'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 NMDC Steel's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting nmdc 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 | 2.14 | |||
| Standard Deviation | 2.81 | |||
| Variance | 7.91 |
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.| ZLAB | Zai Lab | |
| ASLE | AerSale Corp | |
| ATS | AT S Austria |
Additional Tools for NMDC Stock Analysis
When running NMDC Steel's price analysis, check to measure NMDC Steel'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 NMDC Steel is operating at the current time. Most of NMDC Steel's value examination focuses on studying past and present price action to predict the probability of NMDC Steel's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move NMDC Steel's price. Additionally, you may evaluate how the addition of NMDC Steel to your portfolios can decrease your overall portfolio volatility.