Opko Health Stock Forecast - Naive Prediction
| OPK Stock | 587.50 5.30 0.89% |
The Naive Prediction forecasted value of Opko Health on the next trading day is expected to be 582.54 with a mean absolute deviation of 14.75 and the sum of the absolute errors of 899.79. Opko Stock Forecast is based on your current time horizon. Investors can use this forecasting interface to forecast Opko Health stock prices and determine the direction of Opko Health's future trends based on various well-known forecasting models. We recommend always using this module together with an analysis of Opko Health's historical fundamentals, such as revenue growth or operating cash flow patterns.
Opko |
Opko Health Naive Prediction Price Forecast For the 25th of November
Given 90 days horizon, the Naive Prediction forecasted value of Opko Health on the next trading day is expected to be 582.54 with a mean absolute deviation of 14.75, mean absolute percentage error of 365.10, and the sum of the absolute errors of 899.79.Please note that although there have been many attempts to predict Opko 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 Opko Health's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Opko Health Stock Forecast Pattern
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Opko Health Forecasted Value
In the context of forecasting Opko Health'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. Opko Health's downside and upside margins for the forecasting period are 578.91 and 586.17, respectively. We have considered Opko Health'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 Opko Health stock data series using in forecasting. Note that when a statistical model is used to represent Opko Health 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 | 124.0107 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 14.7507 |
| MAPE | Mean absolute percentage error | 0.0259 |
| SAE | Sum of the absolute errors | 899.7908 |
Predictive Modules for Opko Health
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Opko Health. 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 Opko Health
For every potential investor in Opko, whether a beginner or expert, Opko Health's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Opko Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Opko. Basic forecasting techniques help filter out the noise by identifying Opko Health's price trends.Opko Health 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 Opko Health stock to make a market-neutral strategy. Peer analysis of Opko Health could also be used in its relative valuation, which is a method of valuing Opko Health by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Opko Health 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 Opko Health'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 Opko Health's current price.| Cycle Indicators | ||
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Opko Health Market Strength Events
Market strength indicators help investors to evaluate how Opko Health stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Opko Health shares will generate the highest return on investment. By undertsting and applying Opko Health stock market strength indicators, traders can identify Opko Health entry and exit signals to maximize returns.
Opko Health Risk Indicators
The analysis of Opko Health'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 Opko Health's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting opko 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 | 2.6 | |||
| Semi Deviation | 3.28 | |||
| Standard Deviation | 3.52 | |||
| Variance | 12.39 | |||
| Downside Variance | 12.44 | |||
| Semi Variance | 10.78 | |||
| Expected Short fall | (2.59) |
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.Additional Information and Resources on Investing in Opko Stock
When determining whether Opko Health is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Opko Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Opko Health Stock. Highlighted below are key reports to facilitate an investment decision about Opko Health Stock:Check out Historical Fundamental Analysis of Opko Health to cross-verify your projections. For information on how to trade Opko Stock refer to our How to Trade Opko Stock guide.You can also try the Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.