The Simple Exponential Smoothing forecasted value of INDUSTRIAL MINERALS LTD on the next trading day is expected to be 0.08 with a mean absolute deviation of 0 and the sum of the absolute errors of 0.18. Investors can use prediction functions to forecast INDUSTRIAL MINERALS's stock prices and determine the direction of INDUSTRIAL MINERALS LTD's future trends based on various well-known forecasting models. However, exclusively looking at the historical price movement is usually misleading. We recommend always using this module together with an analysis of INDUSTRIAL MINERALS's historical fundamentals, such as revenue growth or operating cash flow patterns. Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
INDUSTRIAL
INDUSTRIAL MINERALS simple exponential smoothing forecast is a very popular model used to produce a smoothed price series. Whereas in simple Moving Average models the past observations for INDUSTRIAL MINERALS LTD are weighted equally, Exponential Smoothing assigns exponentially decreasing weights as INDUSTRIAL MINERALS LTD prices get older.
INDUSTRIAL MINERALS Simple Exponential Smoothing Price Forecast For the 8th of January
Given 90 days horizon, the Simple Exponential Smoothing forecasted value of INDUSTRIAL MINERALS LTD on the next trading day is expected to be 0.08 with a mean absolute deviation of 0, mean absolute percentage error of 0.000024, and the sum of the absolute errors of 0.18.
Please note that although there have been many attempts to predict INDUSTRIAL 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 INDUSTRIAL MINERALS's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
INDUSTRIAL MINERALS Stock Forecast Pattern
INDUSTRIAL MINERALS Forecasted Value
In the context of forecasting INDUSTRIAL MINERALS'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. INDUSTRIAL MINERALS's downside and upside margins for the forecasting period are 0.0008 and 5.21, respectively. We have considered INDUSTRIAL MINERALS'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.
The below table displays some essential indicators generated by the model showing the Simple Exponential Smoothing forecasting method's relative quality and the estimations of the prediction error of INDUSTRIAL MINERALS stock data series using in forecasting. Note that when a statistical model is used to represent INDUSTRIAL MINERALS 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
105.643
Bias
Arithmetic mean of the errors
7.0E-4
MAD
Mean absolute deviation
0.0031
MAPE
Mean absolute percentage error
0.0327
SAE
Sum of the absolute errors
0.1834
This simple exponential smoothing model begins by setting INDUSTRIAL MINERALS LTD forecast for the second period equal to the observation of the first period. In other words, recent INDUSTRIAL MINERALS observations are given relatively more weight in forecasting than the older observations.
Predictive Modules for INDUSTRIAL MINERALS
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as INDUSTRIAL MINERALS LTD. 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 INDUSTRIAL MINERALS
For every potential investor in INDUSTRIAL, whether a beginner or expert, INDUSTRIAL MINERALS's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. INDUSTRIAL Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in INDUSTRIAL. Basic forecasting techniques help filter out the noise by identifying INDUSTRIAL MINERALS's price trends.
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 INDUSTRIAL MINERALS stock to make a market-neutral strategy. Peer analysis of INDUSTRIAL MINERALS could also be used in its relative valuation, which is a method of valuing INDUSTRIAL MINERALS by comparing valuation metrics with similar companies.
INDUSTRIAL MINERALS LTD 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 INDUSTRIAL MINERALS'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 INDUSTRIAL MINERALS's current price.
Market strength indicators help investors to evaluate how INDUSTRIAL MINERALS stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading INDUSTRIAL MINERALS shares will generate the highest return on investment. By undertsting and applying INDUSTRIAL MINERALS stock market strength indicators, traders can identify INDUSTRIAL MINERALS LTD entry and exit signals to maximize returns.
The analysis of INDUSTRIAL MINERALS'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 INDUSTRIAL MINERALS's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting industrial 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.
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.