Opthea Stock Forecast - Naive Prediction
| OPTDelisted Stock | USD 3.41 0.07 2.01% |
The Naive Prediction forecasted value of Opthea on the next trading day is expected to be 3.73 with a mean absolute deviation of 0.18 and the sum of the absolute errors of 11.28. Opthea Stock Forecast is based on your current time horizon.
Opthea |
Opthea Naive Prediction Price Forecast For the 27th of December
Given 90 days horizon, the Naive Prediction forecasted value of Opthea on the next trading day is expected to be 3.73 with a mean absolute deviation of 0.18, mean absolute percentage error of 0.06, and the sum of the absolute errors of 11.28.Please note that although there have been many attempts to predict Opthea 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 Opthea's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Opthea Stock Forecast Pattern
| Backtest Opthea | Opthea Price Prediction | Buy or Sell Advice |
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 Opthea stock data series using in forecasting. Note that when a statistical model is used to represent Opthea 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 | 115.3471 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 0.185 |
| MAPE | Mean absolute percentage error | 0.0426 |
| SAE | Sum of the absolute errors | 11.2827 |
Predictive Modules for Opthea
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Opthea. 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.Opthea 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 Opthea stock to make a market-neutral strategy. Peer analysis of Opthea could also be used in its relative valuation, which is a method of valuing Opthea by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Opthea Market Strength Events
Market strength indicators help investors to evaluate how Opthea stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Opthea shares will generate the highest return on investment. By undertsting and applying Opthea stock market strength indicators, traders can identify Opthea entry and exit signals to maximize returns.
Thematic Opportunities
Explore Investment Opportunities
Check out Your Equity Center 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 inflation. You can also try the Bonds Directory module to find actively traded corporate debentures issued by US companies.
Other Consideration for investing in Opthea Stock
If you are still planning to invest in Opthea 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 Opthea's history and understand the potential risks before investing.
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data |