AltaGas Stock Forecast - Triple Exponential Smoothing

ALA Stock  CAD 33.07  0.52  1.55%   
The Triple Exponential Smoothing forecasted value of AltaGas on the next trading day is expected to be 32.94 with a mean absolute deviation of 0.33 and the sum of the absolute errors of 19.50. AltaGas Stock Forecast is based on your current time horizon. Although AltaGas' naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of AltaGas' systematic risk associated with finding meaningful patterns of AltaGas fundamentals over time.
  
As of the 12th of December 2024, Asset Turnover is likely to grow to 0.62, while Inventory Turnover is likely to drop 11.34. . As of the 12th of December 2024, Common Stock Shares Outstanding is likely to grow to about 297.9 M. Also, Net Income Applicable To Common Shares is likely to grow to about 481.8 M.
Triple exponential smoothing for AltaGas - also known as the Winters method - is a refinement of the popular double exponential smoothing model with the addition of periodicity (seasonality) component. Simple exponential smoothing technique works best with data where there are no trend or seasonality components to the data. When AltaGas prices exhibit either an increasing or decreasing trend over time, simple exponential smoothing forecasts tend to lag behind observations. Double exponential smoothing is designed to address this type of data series by taking into account any trend in AltaGas price movement. However, neither of these exponential smoothing models address any seasonality of AltaGas.

AltaGas Triple Exponential Smoothing Price Forecast For the 13th of December 2024

Given 90 days horizon, the Triple Exponential Smoothing forecasted value of AltaGas on the next trading day is expected to be 32.94 with a mean absolute deviation of 0.33, mean absolute percentage error of 0.21, and the sum of the absolute errors of 19.50.
Please note that although there have been many attempts to predict AltaGas 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 AltaGas' next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).

AltaGas Stock Forecast Pattern

Backtest AltaGasAltaGas Price PredictionBuy or Sell Advice 

AltaGas Forecasted Value

In the context of forecasting AltaGas' 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. AltaGas' downside and upside margins for the forecasting period are 31.68 and 34.21, respectively. We have considered AltaGas' 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.
Market Value
33.07
32.94
Expected Value
34.21
Upside

Model Predictive Factors

The below table displays some essential indicators generated by the model showing the Triple Exponential Smoothing forecasting method's relative quality and the estimations of the prediction error of AltaGas stock data series using in forecasting. Note that when a statistical model is used to represent AltaGas 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.
AICAkaike Information CriteriaHuge
BiasArithmetic mean of the errors -0.0352
MADMean absolute deviation0.325
MAPEMean absolute percentage error0.0096
SAESum of the absolute errors19.5005
As with simple exponential smoothing, in triple exponential smoothing models past AltaGas observations are given exponentially smaller weights as the observations get older. In other words, recent observations are given relatively more weight in forecasting than the older AltaGas observations.

Predictive Modules for AltaGas

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as AltaGas. 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.
Hype
Prediction
LowEstimatedHigh
31.8533.1134.37
Details
Intrinsic
Valuation
LowRealHigh
28.7129.9736.38
Details
Bollinger
Band Projection (param)
LowMiddleHigh
33.1534.2335.30
Details
Earnings
Estimates (0)
LowProjected EPSHigh
0.530.530.55
Details

Other Forecasting Options for AltaGas

For every potential investor in AltaGas, whether a beginner or expert, AltaGas' price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. AltaGas Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in AltaGas. Basic forecasting techniques help filter out the noise by identifying AltaGas' price trends.

AltaGas 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 AltaGas stock to make a market-neutral strategy. Peer analysis of AltaGas could also be used in its relative valuation, which is a method of valuing AltaGas by comparing valuation metrics with similar companies.
 Risk & Return  Correlation

AltaGas 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 AltaGas' 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 AltaGas' current price.

AltaGas Market Strength Events

Market strength indicators help investors to evaluate how AltaGas stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading AltaGas shares will generate the highest return on investment. By undertsting and applying AltaGas stock market strength indicators, traders can identify AltaGas entry and exit signals to maximize returns.

AltaGas Risk Indicators

The analysis of AltaGas' 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 AltaGas' investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting altagas 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.

Pair Trading with AltaGas

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 AltaGas 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 AltaGas will appreciate offsetting losses from the drop in the long position's value.
The ability to find closely correlated positions to AltaGas could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AltaGas 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 AltaGas - 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 AltaGas to buy it.
The correlation of AltaGas 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 AltaGas moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AltaGas 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 AltaGas 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.
Pair CorrelationCorrelation Matching

Other Information on Investing in AltaGas Stock

AltaGas financial ratios help investors to determine whether AltaGas Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in AltaGas with respect to the benefits of owning AltaGas security.