Patten Energy Stock Forecast - Simple Regression
The Simple Regression forecasted value of Patten Energy Solutions on the next trading day is expected to be 0.00 with a mean absolute deviation of 0.00 and the sum of the absolute errors of 0.00. Patten Stock Forecast is based on your current time horizon. Although Patten Energy's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Patten Energy's systematic risk associated with finding meaningful patterns of Patten Energy fundamentals over time.
Patten |
Patten Energy Simple Regression Price Forecast For the 30th of November
Given 90 days horizon, the Simple Regression forecasted value of Patten Energy Solutions on the next trading day is expected to be 0.00 with a mean absolute deviation of 0.00, mean absolute percentage error of 0.00, and the sum of the absolute errors of 0.00.Please note that although there have been many attempts to predict Patten 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 Patten Energy's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Patten Energy Stock Forecast Pattern
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Patten Energy Forecasted Value
In the context of forecasting Patten Energy'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. Patten Energy's downside and upside margins for the forecasting period are 0.00 and 0.00, respectively. We have considered Patten Energy'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 Simple Regression forecasting method's relative quality and the estimations of the prediction error of Patten Energy stock data series using in forecasting. Note that when a statistical model is used to represent Patten Energy 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 | -9.223372036854776E14 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 0.0 |
| MAPE | Mean absolute percentage error | 0.0 |
| SAE | Sum of the absolute errors | 0.0 |
Predictive Modules for Patten Energy
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Patten Energy Solutions. 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 Patten Energy'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 Patten Energy
For every potential investor in Patten, whether a beginner or expert, Patten Energy's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Patten Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Patten. Basic forecasting techniques help filter out the noise by identifying Patten Energy's price trends.Patten Energy 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 Patten Energy stock to make a market-neutral strategy. Peer analysis of Patten Energy could also be used in its relative valuation, which is a method of valuing Patten Energy by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Patten Energy Solutions 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 Patten Energy'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 Patten Energy's current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
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| Volume Indicators |
Pair Trading with Patten Energy
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 Patten Energy 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 Patten Energy will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Patten Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Patten Energy 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 Patten Energy - 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 Patten Energy Solutions to buy it.
The correlation of Patten Energy 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 Patten Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Patten Energy Solutions 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 Patten Energy 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 Patten Energy to cross-verify your projections. You can also try the Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
Is Oil & Gas Refining & Marketing 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 Patten Energy. If investors know Patten 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 Patten Energy listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Return On Assets (1.31) | Return On Equity (5.77) |
The market value of Patten Energy Solutions is measured differently than its book value, which is the value of Patten that is recorded on the company's balance sheet. Investors also form their own opinion of Patten Energy's value that differs from its market value or its book value, called intrinsic value, which is Patten Energy's 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 Patten Energy's market value can be influenced by many factors that don't directly affect Patten Energy's 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 Patten Energy's value and its price as these two are different measures arrived at by different means. Investors typically determine if Patten Energy is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Patten Energy's 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.