WGRO Etf Forecast - Naive Prediction
| WGRO Etf | USD 22.11 0.06 0.27% |
The Naive Prediction forecasted value of WGRO on the next trading day is expected to be 22.25 with a mean absolute deviation of 0.15 and the sum of the absolute errors of 9.45. WGRO Etf Forecast is based on your current time horizon.
WGRO |
WGRO Naive Prediction Price Forecast For the 25th of November
Given 90 days horizon, the Naive Prediction forecasted value of WGRO on the next trading day is expected to be 22.25 with a mean absolute deviation of 0.15, mean absolute percentage error of 0.04, and the sum of the absolute errors of 9.45.Please note that although there have been many attempts to predict WGRO Etf 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 WGRO's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
WGRO Etf Forecast Pattern
| Backtest WGRO | WGRO Price Prediction | Buy or Sell Advice |
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 WGRO etf data series using in forecasting. Note that when a statistical model is used to represent WGRO etf, 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 | 114.8308 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 0.1548 |
| MAPE | Mean absolute percentage error | 0.0073 |
| SAE | Sum of the absolute errors | 9.445 |
Predictive Modules for WGRO
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as WGRO. Regardless of method or technology, however, to accurately forecast the etf market is more a matter of luck rather than a particular technique. Nevertheless, trying to predict the etf 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.WGRO 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 WGRO etf to make a market-neutral strategy. Peer analysis of WGRO could also be used in its relative valuation, which is a method of valuing WGRO by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
WGRO Market Strength Events
Market strength indicators help investors to evaluate how WGRO etf reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading WGRO shares will generate the highest return on investment. By undertsting and applying WGRO etf market strength indicators, traders can identify WGRO entry and exit signals to maximize returns.
WGRO Risk Indicators
The analysis of WGRO'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 WGRO's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting wgro etf 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 | 0.7226 | |||
| Semi Deviation | 0.8636 | |||
| Standard Deviation | 0.9173 | |||
| Variance | 0.8414 | |||
| Downside Variance | 0.9459 | |||
| Semi Variance | 0.7459 | |||
| Expected Short fall | (0.72) |
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 WGRO
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 WGRO 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 WGRO will appreciate offsetting losses from the drop in the long position's value.Moving together with WGRO Etf
Moving against WGRO Etf
| 0.9 | BND | Vanguard Total Bond | PairCorr |
| 0.79 | ERO | Ero Copper Corp | PairCorr |
| 0.78 | VEA | Vanguard FTSE Developed | PairCorr |
The ability to find closely correlated positions to WGRO could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace WGRO 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 WGRO - 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 WGRO to buy it.
The correlation of WGRO 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 WGRO moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if WGRO 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 WGRO 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 Your Current Watchlist to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area. You can also try the Content Syndication module to quickly integrate customizable finance content to your own investment portal.
The market value of WGRO is measured differently than its book value, which is the value of WGRO that is recorded on the company's balance sheet. Investors also form their own opinion of WGRO's value that differs from its market value or its book value, called intrinsic value, which is WGRO'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 WGRO's market value can be influenced by many factors that don't directly affect WGRO'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 WGRO's value and its price as these two are different measures arrived at by different means. Investors typically determine if WGRO is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, WGRO'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.