Otonomo Technologies Stock Forecast - Naive Prediction
| OTMODelisted Stock | USD 0.36 0.00 0.00% |
The Naive Prediction forecasted value of Otonomo Technologies on the next trading day is expected to be 0.40 with a mean absolute deviation of 0.01 and the sum of the absolute errors of 0.64. Otonomo Stock Forecast is based on your current time horizon.
Otonomo |
Otonomo Technologies Naive Prediction Price Forecast For the 29th of November
Given 90 days horizon, the Naive Prediction forecasted value of Otonomo Technologies on the next trading day is expected to be 0.40 with a mean absolute deviation of 0.01, mean absolute percentage error of 0.0002, and the sum of the absolute errors of 0.64.Please note that although there have been many attempts to predict Otonomo 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 Otonomo Technologies' next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Otonomo Technologies Stock Forecast Pattern
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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 Otonomo Technologies stock data series using in forecasting. Note that when a statistical model is used to represent Otonomo Technologies 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 | 109.4965 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 0.0105 |
| MAPE | Mean absolute percentage error | 0.0272 |
| SAE | Sum of the absolute errors | 0.6393 |
Predictive Modules for Otonomo Technologies
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Otonomo Technologies. 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.View Otonomo Technologies Related Equities
| Risk & Return | Correlation |
Otonomo Technologies Market Strength Events
Market strength indicators help investors to evaluate how Otonomo Technologies stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Otonomo Technologies shares will generate the highest return on investment. By undertsting and applying Otonomo Technologies stock market strength indicators, traders can identify Otonomo Technologies entry and exit signals to maximize returns.
Pair Trading with Otonomo Technologies
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 Otonomo Technologies 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 Otonomo Technologies will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Otonomo Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Otonomo Technologies 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 Otonomo Technologies - 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 Otonomo Technologies to buy it.
The correlation of Otonomo Technologies 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 Otonomo Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Otonomo Technologies 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 Otonomo Technologies 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 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 various price indices. You can also try the ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
Other Consideration for investing in Otonomo Stock
If you are still planning to invest in Otonomo Technologies 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 Otonomo Technologies' history and understand the potential risks before investing.
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