Patrick Industries Stock Forecast - Naive Prediction
| PATK Stock | USD 134.42 3.93 2.84% |
The Naive Prediction forecasted value of Patrick Industries on the next trading day is expected to be 139.40 with a mean absolute deviation of 2.89 and the sum of the absolute errors of 176.44. Patrick Stock Forecast is based on your current time horizon. Although Patrick Industries' naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Patrick Industries' systematic risk associated with finding meaningful patterns of Patrick Industries fundamentals over time.
Patrick |
Patrick Industries Cash Forecast
To forecast cash or other financial indicators, analysts must employ diverse statistical methods, techniques, and algorithms. This approach allows them to detect underlying patterns in the Patrick Industries' financial statements, predicting their influence on future market prices.
Cash | First Reported 1985-12-31 | Previous Quarter 44 M | Current Value 52.6 M | Quarterly Volatility 24.7 M |
Patrick Industries Naive Prediction Price Forecast For the 29th of November
Given 90 days horizon, the Naive Prediction forecasted value of Patrick Industries on the next trading day is expected to be 139.40 with a mean absolute deviation of 2.89, mean absolute percentage error of 15.79, and the sum of the absolute errors of 176.44.Please note that although there have been many attempts to predict Patrick 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 Patrick Industries' next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Patrick Industries Stock Forecast Pattern
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Patrick Industries Forecasted Value
In the context of forecasting Patrick Industries' 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. Patrick Industries' downside and upside margins for the forecasting period are 136.86 and 141.94, respectively. We have considered Patrick Industries' 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 Patrick Industries stock data series using in forecasting. Note that when a statistical model is used to represent Patrick Industries 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 | 120.87 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 2.8925 |
| MAPE | Mean absolute percentage error | 0.0218 |
| SAE | Sum of the absolute errors | 176.4437 |
Predictive Modules for Patrick Industries
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Patrick Industries. 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 Patrick Industries' 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 Patrick Industries
For every potential investor in Patrick, whether a beginner or expert, Patrick Industries' price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Patrick Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Patrick. Basic forecasting techniques help filter out the noise by identifying Patrick Industries' price trends.Patrick Industries 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 Patrick Industries stock to make a market-neutral strategy. Peer analysis of Patrick Industries could also be used in its relative valuation, which is a method of valuing Patrick Industries by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Patrick Industries 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 Patrick Industries' 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 Patrick Industries' current price.| Cycle Indicators | ||
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| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
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| Volume Indicators |
Patrick Industries Market Strength Events
Market strength indicators help investors to evaluate how Patrick Industries stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Patrick Industries shares will generate the highest return on investment. By undertsting and applying Patrick Industries stock market strength indicators, traders can identify Patrick Industries entry and exit signals to maximize returns.
| Accumulation Distribution | 0.0461 | |||
| Daily Balance Of Power | (0.61) | |||
| Rate Of Daily Change | 0.97 | |||
| Day Median Price | 137.51 | |||
| Day Typical Price | 136.48 | |||
| Market Facilitation Index | 6.49 | |||
| Price Action Indicator | (5.05) | |||
| Period Momentum Indicator | (3.93) |
Patrick Industries Risk Indicators
The analysis of Patrick Industries' 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 Patrick Industries' investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting patrick 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 | 1.76 | |||
| Semi Deviation | 2.54 | |||
| Standard Deviation | 2.51 | |||
| Variance | 6.31 | |||
| Downside Variance | 7.03 | |||
| Semi Variance | 6.47 | |||
| Expected Short fall | (1.64) |
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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Try AI Portfolio ArchitectCheck out Historical Fundamental Analysis of Patrick Industries to cross-verify your projections. For more information on how to buy Patrick Stock please use our How to buy in Patrick Stock guide.You can also try the Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
Is Building 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 Patrick Industries. If investors know Patrick 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 Patrick Industries 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 2.2 | Earnings Share 6.76 | Revenue Per Share 168.682 | Quarterly Revenue Growth 0.062 |
The market value of Patrick Industries is measured differently than its book value, which is the value of Patrick that is recorded on the company's balance sheet. Investors also form their own opinion of Patrick Industries' value that differs from its market value or its book value, called intrinsic value, which is Patrick Industries' 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 Patrick Industries' market value can be influenced by many factors that don't directly affect Patrick Industries' 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 Patrick Industries' value and its price as these two are different measures arrived at by different means. Investors typically determine if Patrick Industries is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Patrick Industries' 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.