Cencora Stock Forecast - 8 Period Moving Average

COR Stock  USD 248.34  1.71  0.68%   
The 8 Period Moving Average forecasted value of Cencora on the next trading day is expected to be 248.40 with a mean absolute deviation of 4.78 and the sum of the absolute errors of 253.20. Cencora Stock Forecast is based on your current time horizon. Although Cencora's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Cencora's systematic risk associated with finding meaningful patterns of Cencora fundamentals over time.
  
At this time, Cencora's Payables Turnover is relatively stable compared to the past year. As of 12/04/2024, Receivables Turnover is likely to grow to 18.30, while Inventory Turnover is likely to drop 9.60. . As of 12/04/2024, Net Income Applicable To Common Shares is likely to grow to about 2.1 B, while Common Stock Shares Outstanding is likely to drop slightly above 172.1 M.

Open Interest Against 2024-12-20 Cencora Option Contracts

Although open interest is a measure utilized in the options markets, it could be used to forecast Cencora's spot prices because the number of available contracts in the market changes daily, and new contracts can be created or liquidated at will. Since open interest in Cencora's options reflects these daily shifts, investors could use the patterns of these changes to develop long and short-term trading strategies for Cencora stock based on available contracts left at the end of a trading day.
Please note that to derive more accurate forecasting about market movement from the current Cencora's open interest, investors have to compare it to Cencora's spot prices. As Ford's stock price increases, high open interest indicates that money is entering the market, and the market is strongly bullish. Conversely, if the price of Cencora is decreasing and there is high open interest, that is a sign that the bearish trend will continue, and investors may react by taking short positions in Cencora. So, decreasing or low open interest during a bull market indicates that investors are becoming uncertain of the depth of the bullish trend, and a reversal in sentiment will likely follow.
An 8-period moving average forecast model for Cencora is based on an artificially constructed time series of Cencora daily prices in which the value for a trading day is replaced by the mean of that value and the values for 8 of preceding and succeeding time periods. This model is best suited for price series data that changes over time.

Cencora 8 Period Moving Average Price Forecast For the 5th of December

Given 90 days horizon, the 8 Period Moving Average forecasted value of Cencora on the next trading day is expected to be 248.40 with a mean absolute deviation of 4.78, mean absolute percentage error of 37.45, and the sum of the absolute errors of 253.20.
Please note that although there have been many attempts to predict Cencora 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 Cencora's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).

Cencora Stock Forecast Pattern

Backtest CencoraCencora Price PredictionBuy or Sell Advice 

Cencora Forecasted Value

In the context of forecasting Cencora'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. Cencora's downside and upside margins for the forecasting period are 247.19 and 249.61, respectively. We have considered Cencora'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.
Market Value
248.34
247.19
Downside
248.40
Expected Value
249.61
Upside

Model Predictive Factors

The below table displays some essential indicators generated by the model showing the 8 Period Moving Average forecasting method's relative quality and the estimations of the prediction error of Cencora stock data series using in forecasting. Note that when a statistical model is used to represent Cencora 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 Criteria107.0305
BiasArithmetic mean of the errors -1.375
MADMean absolute deviation4.7774
MAPEMean absolute percentage error0.0202
SAESum of the absolute errors253.2025
The eieght-period moving average method has an advantage over other forecasting models in that it does smooth out peaks and valleys in a set of daily observations. Cencora 8-period moving average forecast can only be used reliably to predict one or two periods into the future.

Predictive Modules for Cencora

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Cencora. 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
249.11250.32251.53
Details
Intrinsic
Valuation
LowRealHigh
216.16217.37275.06
Details
Bollinger
Band Projection (param)
LowMiddleHigh
243.27246.94250.61
Details
18 Analysts
Consensus
LowTargetHigh
190.82209.69232.76
Details

Other Forecasting Options for Cencora

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

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

Cencora 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 Cencora'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 Cencora's current price.

Cencora Market Strength Events

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

Cencora Risk Indicators

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

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 Cencora 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 Cencora will appreciate offsetting losses from the drop in the long position's value.

Moving together with Cencora Stock

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Moving against Cencora Stock

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  0.61EKSO Ekso Bionics HoldingsPairCorr
  0.61AGL agilon healthPairCorr
  0.54VERO Venus ConceptPairCorr
  0.42FLGT Fulgent GeneticsPairCorr
The ability to find closely correlated positions to Cencora could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cencora 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 Cencora - 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 Cencora to buy it.
The correlation of Cencora 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 Cencora moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cencora 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 Cencora 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

Additional Tools for Cencora Stock Analysis

When running Cencora's price analysis, check to measure Cencora's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Cencora is operating at the current time. Most of Cencora's value examination focuses on studying past and present price action to predict the probability of Cencora's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Cencora's price. Additionally, you may evaluate how the addition of Cencora to your portfolios can decrease your overall portfolio volatility.