Evolent Health Stock Forecast - Simple Exponential Smoothing
| 9EH Stock | EUR 10.40 0.10 0.95% |
The Simple Exponential Smoothing forecasted value of Evolent Health on the next trading day is expected to be 10.40 with a mean absolute deviation of 0.67 and the sum of the absolute errors of 40.80. Evolent Stock Forecast is based on your current time horizon. We recommend always using this module together with an analysis of Evolent Health's historical fundamentals, such as revenue growth or operating cash flow patterns.
Evolent |
Evolent Health Simple Exponential Smoothing Price Forecast For the 12th of December 2024
Given 90 days horizon, the Simple Exponential Smoothing forecasted value of Evolent Health on the next trading day is expected to be 10.40 with a mean absolute deviation of 0.67, mean absolute percentage error of 1.69, and the sum of the absolute errors of 40.80.Please note that although there have been many attempts to predict Evolent 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 Evolent Health's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Evolent Health Stock Forecast Pattern
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Evolent Health Forecasted Value
In the context of forecasting Evolent Health'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. Evolent Health's downside and upside margins for the forecasting period are 4.28 and 16.52, respectively. We have considered Evolent Health'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 Exponential Smoothing forecasting method's relative quality and the estimations of the prediction error of Evolent Health stock data series using in forecasting. Note that when a statistical model is used to represent Evolent Health 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 | 118.6324 |
| Bias | Arithmetic mean of the errors | 0.2754 |
| MAD | Mean absolute deviation | 0.6689 |
| MAPE | Mean absolute percentage error | 0.0397 |
| SAE | Sum of the absolute errors | 40.8 |
Predictive Modules for Evolent Health
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Evolent Health. 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 Evolent Health
For every potential investor in Evolent, whether a beginner or expert, Evolent Health's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Evolent Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Evolent. Basic forecasting techniques help filter out the noise by identifying Evolent Health's price trends.Evolent Health 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 Evolent Health stock to make a market-neutral strategy. Peer analysis of Evolent Health could also be used in its relative valuation, which is a method of valuing Evolent Health by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Evolent Health 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 Evolent Health'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 Evolent Health's current price.| Cycle Indicators | ||
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| Overlap Studies | ||
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Evolent Health Market Strength Events
Market strength indicators help investors to evaluate how Evolent Health stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Evolent Health shares will generate the highest return on investment. By undertsting and applying Evolent Health stock market strength indicators, traders can identify Evolent Health entry and exit signals to maximize returns.
| Daily Balance Of Power | (9,223,372,036,855) | |||
| Rate Of Daily Change | 0.99 | |||
| Day Median Price | 10.4 | |||
| Day Typical Price | 10.4 | |||
| Price Action Indicator | (0.05) | |||
| Period Momentum Indicator | (0.10) | |||
| Relative Strength Index | 29.61 |
Evolent Health Risk Indicators
The analysis of Evolent Health'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 Evolent Health's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting evolent 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 | 3.37 | |||
| Standard Deviation | 6.03 | |||
| Variance | 36.41 |
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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Additional Information and Resources on Investing in Evolent Stock
When determining whether Evolent Health offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Evolent Health's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Evolent Health Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Evolent Health Stock:Check out Historical Fundamental Analysis of Evolent Health to cross-verify your projections. For more detail on how to invest in Evolent Stock please use our How to Invest in Evolent Health guide.You can also try the Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .