Ovintiv Stock Forecast - Naive Prediction
| OVV Stock | USD 46.71 0.12 0.26% |
The Naive Prediction forecasted value of Ovintiv on the next trading day is expected to be 47.81 with a mean absolute deviation of 0.81 and the sum of the absolute errors of 49.56. Ovintiv Stock Forecast is based on your current time horizon.
Ovintiv |
Forecasting cash, or other financial indicators, requires analysts to apply different statistical methods, techniques, and algorithms to find hidden patterns within the Ovintiv's financial statements to predict how it will affect future prices.
Cash | First Reported 2001-09-30 | Previous Quarter 8 M | Current Value 9 M | Quarterly Volatility 1.1 B |
Ovintiv Naive Prediction Price Forecast For the 26th of November
Given 90 days horizon, the Naive Prediction forecasted value of Ovintiv on the next trading day is expected to be 47.81 with a mean absolute deviation of 0.81, mean absolute percentage error of 1.19, and the sum of the absolute errors of 49.56.Please note that although there have been many attempts to predict Ovintiv 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 Ovintiv's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Ovintiv Stock Forecast Pattern
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Ovintiv Forecasted Value
In the context of forecasting Ovintiv'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. Ovintiv's downside and upside margins for the forecasting period are 45.54 and 50.09, respectively. We have considered Ovintiv'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 Ovintiv stock data series using in forecasting. Note that when a statistical model is used to represent Ovintiv 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 | 118.2884 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 0.8124 |
| MAPE | Mean absolute percentage error | 0.02 |
| SAE | Sum of the absolute errors | 49.5585 |
Predictive Modules for Ovintiv
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Ovintiv. 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 Ovintiv'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 Ovintiv
For every potential investor in Ovintiv, whether a beginner or expert, Ovintiv's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Ovintiv Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Ovintiv. Basic forecasting techniques help filter out the noise by identifying Ovintiv's price trends.View Ovintiv Related Equities
| Risk & Return | Correlation |
Ovintiv 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 Ovintiv'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 Ovintiv's current price.| Cycle Indicators | ||
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Ovintiv Market Strength Events
Market strength indicators help investors to evaluate how Ovintiv stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Ovintiv shares will generate the highest return on investment. By undertsting and applying Ovintiv stock market strength indicators, traders can identify Ovintiv entry and exit signals to maximize returns.
Ovintiv Risk Indicators
The analysis of Ovintiv'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 Ovintiv's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting ovintiv 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 | 1.7 | |||
| Semi Deviation | 2.04 | |||
| Standard Deviation | 2.26 | |||
| Variance | 5.13 | |||
| Downside Variance | 5.53 | |||
| Semi Variance | 4.18 | |||
| Expected Short fall | (1.77) |
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.
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Additional Tools for Ovintiv Stock Analysis
When running Ovintiv's price analysis, check to measure Ovintiv's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Ovintiv is operating at the current time. Most of Ovintiv's value examination focuses on studying past and present price action to predict the probability of Ovintiv's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Ovintiv's price. Additionally, you may evaluate how the addition of Ovintiv to your portfolios can decrease your overall portfolio volatility.