Purple Biotech Stock Forecast - Polynomial Regression
| PPBT Stock | ILA 4.80 0.20 4.00% |
The Polynomial Regression forecasted value of Purple Biotech on the next trading day is expected to be 5.42 with a mean absolute deviation of 0.54 and the sum of the absolute errors of 33.27. Purple Stock Forecast is based on your current time horizon. Investors can use this forecasting interface to forecast Purple Biotech stock prices and determine the direction of Purple Biotech's future trends based on various well-known forecasting models. We recommend always using this module together with an analysis of Purple Biotech's historical fundamentals, such as revenue growth or operating cash flow patterns.
Purple |
Purple Biotech Polynomial Regression Price Forecast For the 29th of November
Given 90 days horizon, the Polynomial Regression forecasted value of Purple Biotech on the next trading day is expected to be 5.42 with a mean absolute deviation of 0.54, mean absolute percentage error of 0.44, and the sum of the absolute errors of 33.27.Please note that although there have been many attempts to predict Purple 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 Purple Biotech's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Purple Biotech Stock Forecast Pattern
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Purple Biotech Forecasted Value
In the context of forecasting Purple Biotech'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. Purple Biotech's downside and upside margins for the forecasting period are 0.05 and 11.28, respectively. We have considered Purple Biotech'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 Polynomial Regression forecasting method's relative quality and the estimations of the prediction error of Purple Biotech stock data series using in forecasting. Note that when a statistical model is used to represent Purple Biotech 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 | 119.1367 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 0.5367 |
| MAPE | Mean absolute percentage error | 0.0502 |
| SAE | Sum of the absolute errors | 33.2735 |
Predictive Modules for Purple Biotech
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Purple Biotech. 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.Other Forecasting Options for Purple Biotech
For every potential investor in Purple, whether a beginner or expert, Purple Biotech's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Purple Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Purple. Basic forecasting techniques help filter out the noise by identifying Purple Biotech's price trends.Purple Biotech 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 Purple Biotech stock to make a market-neutral strategy. Peer analysis of Purple Biotech could also be used in its relative valuation, which is a method of valuing Purple Biotech by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Purple Biotech 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 Purple Biotech'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 Purple Biotech's current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
Purple Biotech Market Strength Events
Market strength indicators help investors to evaluate how Purple Biotech stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Purple Biotech shares will generate the highest return on investment. By undertsting and applying Purple Biotech stock market strength indicators, traders can identify Purple Biotech entry and exit signals to maximize returns.
Purple Biotech Risk Indicators
The analysis of Purple Biotech'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 Purple Biotech's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting purple 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 | 3.95 | |||
| Standard Deviation | 5.45 | |||
| Variance | 29.7 |
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.
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Additional Information and Resources on Investing in Purple Stock
When determining whether Purple Biotech is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Purple Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Purple Biotech Stock. Highlighted below are key reports to facilitate an investment decision about Purple Biotech Stock:Check out Historical Fundamental Analysis of Purple Biotech to cross-verify your projections. For information on how to trade Purple Stock refer to our How to Trade Purple Stock 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.