Patterson Companies Stock Forecast - Naive Prediction
| PDCO Stock | USD 21.62 1.16 5.67% |
The Naive Prediction forecasted value of Patterson Companies on the next trading day is expected to be 20.63 with a mean absolute deviation of 0.48 and the sum of the absolute errors of 29.30. Patterson Stock Forecast is based on your current time horizon. Although Patterson Companies' naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Patterson Companies' systematic risk associated with finding meaningful patterns of Patterson Companies fundamentals over time.
Patterson |
Patterson Companies Cash Forecast
Forecasting financial indicators like cash flow involves analysts applying various statistical methods, techniques, and algorithms. These tools reveal hidden trends within the Patterson Companies' financial statements to estimate their effects on upcoming price movements.
Cash | First Reported 1991-04-30 | Previous Quarter 114.5 M | Current Value 148.1 M | Quarterly Volatility 138.8 M |
Patterson Companies Naive Prediction Price Forecast For the 26th of November
Given 90 days horizon, the Naive Prediction forecasted value of Patterson Companies on the next trading day is expected to be 20.63 with a mean absolute deviation of 0.48, mean absolute percentage error of 0.34, and the sum of the absolute errors of 29.30.Please note that although there have been many attempts to predict Patterson 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 Patterson Companies' next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Patterson Companies Stock Forecast Pattern
| Backtest Patterson Companies | Patterson Companies Price Prediction | Buy or Sell Advice |
Patterson Companies Forecasted Value
In the context of forecasting Patterson Companies' 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. Patterson Companies' downside and upside margins for the forecasting period are 18.06 and 23.21, respectively. We have considered Patterson Companies' 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 Patterson Companies stock data series using in forecasting. Note that when a statistical model is used to represent Patterson Companies 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 | 117.0275 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 0.4804 |
| MAPE | Mean absolute percentage error | 0.023 |
| SAE | Sum of the absolute errors | 29.3038 |
Predictive Modules for Patterson Companies
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Patterson Companies. 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 Patterson Companies' 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 Patterson Companies
For every potential investor in Patterson, whether a beginner or expert, Patterson Companies' price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Patterson Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Patterson. Basic forecasting techniques help filter out the noise by identifying Patterson Companies' price trends.Patterson Companies 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 Patterson Companies stock to make a market-neutral strategy. Peer analysis of Patterson Companies could also be used in its relative valuation, which is a method of valuing Patterson Companies by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Patterson Companies 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 Patterson Companies' 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 Patterson Companies' current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
Patterson Companies Market Strength Events
Market strength indicators help investors to evaluate how Patterson Companies stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Patterson Companies shares will generate the highest return on investment. By undertsting and applying Patterson Companies stock market strength indicators, traders can identify Patterson Companies entry and exit signals to maximize returns.
| Accumulation Distribution | 72913.14 | |||
| Daily Balance Of Power | 1.008696 | |||
| Rate Of Daily Change | 1.06 | |||
| Day Median Price | 21.38 | |||
| Day Typical Price | 21.46 | |||
| Price Action Indicator | 0.83 | |||
| Period Momentum Indicator | 1.16 | |||
| Relative Strength Index | 52.63 |
Patterson Companies Risk Indicators
The analysis of Patterson Companies' 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 Patterson Companies' investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting patterson 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 | 1.72 | |||
| Standard Deviation | 2.45 | |||
| Variance | 6.02 |
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.
Pair Trading with Patterson Companies
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 Patterson Companies 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 Patterson Companies will appreciate offsetting losses from the drop in the long position's value.Moving against Patterson Stock
| 0.58 | ELMD | Electromed | PairCorr |
| 0.46 | DOCS | Doximity | PairCorr |
| 0.39 | VNRX | Volitionrx | PairCorr |
| 0.38 | VEEV | Veeva Systems Class | PairCorr |
| 0.34 | ECOR | Electrocore LLC | PairCorr |
The ability to find closely correlated positions to Patterson Companies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Patterson Companies 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 Patterson Companies - 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 Patterson Companies to buy it.
The correlation of Patterson Companies 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 Patterson Companies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Patterson Companies 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 Patterson Companies 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 Historical Fundamental Analysis of Patterson Companies to cross-verify your projections. To learn how to invest in Patterson Stock, please use our How to Invest in Patterson Companies guide.You can also try the Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
Is Health Care Providers & Services 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 Patterson Companies. If investors know Patterson 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 Patterson Companies 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 (0.53) | Dividend Share 1.04 | Earnings Share 1.81 | Revenue Per Share 71.704 | Quarterly Revenue Growth (0.02) |
The market value of Patterson Companies is measured differently than its book value, which is the value of Patterson that is recorded on the company's balance sheet. Investors also form their own opinion of Patterson Companies' value that differs from its market value or its book value, called intrinsic value, which is Patterson Companies' 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 Patterson Companies' market value can be influenced by many factors that don't directly affect Patterson Companies' 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 Patterson Companies' value and its price as these two are different measures arrived at by different means. Investors typically determine if Patterson Companies is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Patterson Companies' 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.