Canadian TireLimited Stock Forecast - Simple Regression

Simple Regression model is a single variable regression model that attempts to put a straight line through Canadian TireLimited price points. This line is defined by its gradient or slope, and the point at which it intercepts the x-axis. Mathematically, assuming the independent variable is X and the dependent variable is Y, then this line can be represented as: Y = intercept + slope * X.

Canadian TireLimited Simple Regression Price Forecast For the 23rd of March

Given 90 days horizon, the Simple Regression forecasted value of Canadian Tire on the next trading day is expected to be 144.25 with a mean absolute deviation of 5.27, mean absolute percentage error of 37.04, and the sum of the absolute errors of 321.46.

Canadian TireLimited Stock Forecast Pattern

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Canadian TireLimited Forecasted Value

Model Predictive Factors

The below table displays some essential indicators generated by the model showing the Simple Regression forecasting method's relative quality and the estimations of the prediction error of Canadian TireLimited stock data series using in forecasting. Note that when a statistical model is used to represent Canadian TireLimited 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. In general, regression methods applied to historical equity returns or prices series is an area of active research. In recent decades, new methods have been developed for robust regression of price series such as Canadian Tire historical returns. These new methods are regression involving correlated responses such as growth curves and different regression methods accommodating various types of missing data.

Predictive Modules for Canadian TireLimited

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Canadian TireLimited. 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 Low Estimated High 146.27 147.94 149.61 Details

Intrinsic Valuation Low Real High 124.05 125.72 162.69 Details

Earnings Estimates (0) Low Projected EPS High 1.10 1.40 1.70 Details

Please note, it is not enough to conduct a financial or market analysis of a single entity such as Canadian TireLimited. Your research has to be compared to or analyzed against Canadian TireLimited's peers to derive any actionable benefits. When done correctly, Canadian TireLimited's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Canadian TireLimited.

Other Forecasting Options for Canadian TireLimited

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

Canadian TireLimited Related Equities

Risk & Return

Correlation

Canadian TireLimited 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 Canadian TireLimited'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 Canadian TireLimited's current price.

Canadian TireLimited Market Strength Events

Canadian TireLimited Risk Indicators

Pair Trading with Canadian TireLimited

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

Additional Tools for Canadian Stock Analysis