Shoe Carnival Stock Forecast - Naive Prediction
| SCVL Stock | USD 33.85 0.37 1.11% |
The Naive Prediction forecasted value of Shoe Carnival on the next trading day is expected to be 29.94 with a mean absolute deviation of 1.12 and the sum of the absolute errors of 68.61. Shoe Stock Forecast is based on your current time horizon. Although Shoe Carnival's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Shoe Carnival's systematic risk associated with finding meaningful patterns of Shoe Carnival fundamentals over time.
Shoe |
Shoe Carnival 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 Shoe Carnival's financial statements, predicting their influence on future market prices.
Cash | First Reported 1992-10-31 | Previous Quarter 56.9 M | Current Value 71.6 M | Quarterly Volatility 33.8 M |
Shoe Carnival Naive Prediction Price Forecast For the 23rd of November
Given 90 days horizon, the Naive Prediction forecasted value of Shoe Carnival on the next trading day is expected to be 29.94 with a mean absolute deviation of 1.12, mean absolute percentage error of 1.85, and the sum of the absolute errors of 68.61.Please note that although there have been many attempts to predict Shoe 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 Shoe Carnival's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Shoe Carnival Stock Forecast Pattern
| Backtest Shoe Carnival | Shoe Carnival Price Prediction | Buy or Sell Advice |
Shoe Carnival Forecasted Value
In the context of forecasting Shoe Carnival'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. Shoe Carnival's downside and upside margins for the forecasting period are 27.09 and 32.79, respectively. We have considered Shoe Carnival'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 Shoe Carnival stock data series using in forecasting. Note that when a statistical model is used to represent Shoe Carnival 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 | 118.7236 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 1.1248 |
| MAPE | Mean absolute percentage error | 0.029 |
| SAE | Sum of the absolute errors | 68.6108 |
Predictive Modules for Shoe Carnival
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Shoe Carnival. 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 Shoe Carnival'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 Shoe Carnival
For every potential investor in Shoe, whether a beginner or expert, Shoe Carnival's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Shoe Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Shoe. Basic forecasting techniques help filter out the noise by identifying Shoe Carnival's price trends.Shoe Carnival 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 Shoe Carnival stock to make a market-neutral strategy. Peer analysis of Shoe Carnival could also be used in its relative valuation, which is a method of valuing Shoe Carnival by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Shoe Carnival 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 Shoe Carnival'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 Shoe Carnival's current price.| Cycle Indicators | ||
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Shoe Carnival Market Strength Events
Market strength indicators help investors to evaluate how Shoe Carnival stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Shoe Carnival shares will generate the highest return on investment. By undertsting and applying Shoe Carnival stock market strength indicators, traders can identify Shoe Carnival entry and exit signals to maximize returns.
Shoe Carnival Risk Indicators
The analysis of Shoe Carnival'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 Shoe Carnival's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting shoe 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 | 2.07 | |||
| Standard Deviation | 2.85 | |||
| Variance | 8.1 |
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 Shoe Carnival to cross-verify your projections. For more information on how to buy Shoe Stock please use our How to buy in Shoe Stock guide.You can also try the Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
Is Specialty Retail 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 Shoe Carnival. If investors know Shoe 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 Shoe Carnival 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 0.155 | Earnings Share 2.72 | Revenue Per Share 45.392 | Quarterly Revenue Growth 0.129 | Return On Assets 0.0587 |
The market value of Shoe Carnival is measured differently than its book value, which is the value of Shoe that is recorded on the company's balance sheet. Investors also form their own opinion of Shoe Carnival's value that differs from its market value or its book value, called intrinsic value, which is Shoe Carnival'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 Shoe Carnival's market value can be influenced by many factors that don't directly affect Shoe Carnival'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 Shoe Carnival's value and its price as these two are different measures arrived at by different means. Investors typically determine if Shoe Carnival is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Shoe Carnival'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.