Nextgen Healthcare Stock Forecast - Polynomial Regression
| NXGNDelisted Stock | USD 16.53 0.05 0.30% |
The Polynomial Regression forecasted value of Nextgen Healthcare on the next trading day is expected to be 16.84 with a mean absolute deviation of 0.28 and the sum of the absolute errors of 17.10. Nextgen Stock Forecast is based on your current time horizon.
Nextgen |
Nextgen Healthcare Polynomial Regression Price Forecast For the 27th of November
Given 90 days horizon, the Polynomial Regression forecasted value of Nextgen Healthcare on the next trading day is expected to be 16.84 with a mean absolute deviation of 0.28, mean absolute percentage error of 0.11, and the sum of the absolute errors of 17.10.Please note that although there have been many attempts to predict Nextgen 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 Nextgen Healthcare's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Nextgen Healthcare Stock Forecast Pattern
| Backtest Nextgen Healthcare | Nextgen Healthcare 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 Nextgen Healthcare stock data series using in forecasting. Note that when a statistical model is used to represent Nextgen Healthcare 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 | 115.9311 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 0.2804 |
| MAPE | Mean absolute percentage error | 0.0172 |
| SAE | Sum of the absolute errors | 17.105 |
Predictive Modules for Nextgen Healthcare
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Nextgen Healthcare. 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.Nextgen Healthcare 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 Nextgen Healthcare stock to make a market-neutral strategy. Peer analysis of Nextgen Healthcare could also be used in its relative valuation, which is a method of valuing Nextgen Healthcare by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Nextgen Healthcare Market Strength Events
Market strength indicators help investors to evaluate how Nextgen Healthcare stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Nextgen Healthcare shares will generate the highest return on investment. By undertsting and applying Nextgen Healthcare stock market strength indicators, traders can identify Nextgen Healthcare entry and exit signals to maximize returns.
Nextgen Healthcare Risk Indicators
The analysis of Nextgen Healthcare'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 Nextgen Healthcare's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting nextgen 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 | 1.1 | |||
| Standard Deviation | 1.53 | |||
| Variance | 2.33 |
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 Nextgen Healthcare
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 Nextgen Healthcare 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 Nextgen Healthcare will appreciate offsetting losses from the drop in the long position's value.Moving against Nextgen Stock
| 0.62 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.58 | MCD | McDonalds Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.56 | IBM | International Business Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.4 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.32 | CSCO | Cisco Systems Aggressive Push | PairCorr |
The ability to find closely correlated positions to Nextgen Healthcare could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nextgen Healthcare 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 Nextgen Healthcare - 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 Nextgen Healthcare to buy it.
The correlation of Nextgen Healthcare 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 Nextgen Healthcare moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nextgen Healthcare 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 Nextgen Healthcare 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 price. You can also try the Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
Other Consideration for investing in Nextgen Stock
If you are still planning to invest in Nextgen Healthcare 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 Nextgen Healthcare's history and understand the potential risks before investing.
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