Oil Dri Stock Forecast - Polynomial Regression
| ODC Stock | USD 70.61 0.96 1.38% |
The Polynomial Regression forecasted value of Oil Dri on the next trading day is expected to be 69.93 with a mean absolute deviation of 1.36 and the sum of the absolute errors of 82.66. Oil Stock Forecast is based on your current time horizon. Investors can use this forecasting interface to forecast Oil Dri stock prices and determine the direction of Oil Dri's future trends based on various well-known forecasting models. We recommend always using this module together with an analysis of Oil Dri's historical fundamentals, such as revenue growth or operating cash flow patterns.
Oil |
Oil Dri Polynomial Regression Price Forecast For the 26th of November
Given 90 days horizon, the Polynomial Regression forecasted value of Oil Dri on the next trading day is expected to be 69.93 with a mean absolute deviation of 1.36, mean absolute percentage error of 2.73, and the sum of the absolute errors of 82.66.Please note that although there have been many attempts to predict Oil 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 Oil Dri's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Oil Dri Stock Forecast Pattern
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Oil Dri Forecasted Value
In the context of forecasting Oil Dri'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. Oil Dri's downside and upside margins for the forecasting period are 68.23 and 71.63, respectively. We have considered Oil Dri'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 Polynomial Regression forecasting method's relative quality and the estimations of the prediction error of Oil Dri stock data series using in forecasting. Note that when a statistical model is used to represent Oil Dri 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 | 119.1158 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 1.3551 |
| MAPE | Mean absolute percentage error | 0.0198 |
| SAE | Sum of the absolute errors | 82.6615 |
Predictive Modules for Oil Dri
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Oil Dri. 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.Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Oil Dri'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.
Other Forecasting Options for Oil Dri
For every potential investor in Oil, whether a beginner or expert, Oil Dri's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Oil Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Oil. Basic forecasting techniques help filter out the noise by identifying Oil Dri's price trends.Oil Dri 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 Oil Dri stock to make a market-neutral strategy. Peer analysis of Oil Dri could also be used in its relative valuation, which is a method of valuing Oil Dri by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Oil Dri 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 Oil Dri'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 Oil Dri's current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
Oil Dri Market Strength Events
Market strength indicators help investors to evaluate how Oil Dri stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Oil Dri shares will generate the highest return on investment. By undertsting and applying Oil Dri stock market strength indicators, traders can identify Oil Dri entry and exit signals to maximize returns.
Oil Dri Risk Indicators
The analysis of Oil Dri'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 Oil Dri's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting oil 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 | 1.34 | |||
| Semi Deviation | 1.61 | |||
| Standard Deviation | 1.86 | |||
| Variance | 3.44 | |||
| Downside Variance | 3.22 | |||
| Semi Variance | 2.58 | |||
| Expected Short fall | (1.37) |
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.When determining whether Oil Dri offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Oil Dri's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Oil Dri Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Oil Dri Stock:Check out Historical Fundamental Analysis of Oil Dri to cross-verify your projections. For information on how to trade Oil Stock refer to our How to Trade Oil Stock guide.You can also try the Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
Is Household Products space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Oil Dri. If investors know Oil will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Oil Dri listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.01) | Dividend Share 1.18 | Earnings Share 5.43 | Revenue Per Share 63.779 | Quarterly Revenue Growth 0.059 |
The market value of Oil Dri is measured differently than its book value, which is the value of Oil that is recorded on the company's balance sheet. Investors also form their own opinion of Oil Dri's value that differs from its market value or its book value, called intrinsic value, which is Oil Dri's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Oil Dri's market value can be influenced by many factors that don't directly affect Oil Dri's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Oil Dri's value and its price as these two are different measures arrived at by different means. Investors typically determine if Oil Dri is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Oil Dri's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.