Perma-Fix Environmental Stock Forecast - Naive Prediction

PFX1 Stock   11.00  0.20  1.79%   
The Naive Prediction forecasted value of Perma Fix Environmental Services on the next trading day is expected to be 10.13 with a mean absolute deviation of 0.36 and the sum of the absolute errors of 21.84. Perma-Fix Stock Forecast is based on your current time horizon.
  
A naive forecasting model for Perma-Fix Environmental is a special case of the moving average forecasting where the number of periods used for smoothing is one. Therefore, the forecast of Perma Fix Environmental Services value for a given trading day is simply the observed value for the previous period. Due to the simplistic nature of the naive forecasting model, it can only be used to forecast up to one period.

Perma-Fix Environmental Naive Prediction Price Forecast For the 17th of December 2024

Given 90 days horizon, the Naive Prediction forecasted value of Perma Fix Environmental Services on the next trading day is expected to be 10.13 with a mean absolute deviation of 0.36, mean absolute percentage error of 0.22, and the sum of the absolute errors of 21.84.
Please note that although there have been many attempts to predict Perma-Fix 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 Perma-Fix Environmental's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).

Perma-Fix Environmental Stock Forecast Pattern

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Perma-Fix Environmental Forecasted Value

In the context of forecasting Perma-Fix Environmental'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. Perma-Fix Environmental's downside and upside margins for the forecasting period are 6.16 and 14.10, respectively. We have considered Perma-Fix Environmental'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
11.00
10.13
Expected Value
14.10
Upside

Model Predictive Factors

The below table displays some essential indicators generated by the model showing the Naive Prediction forecasting method's relative quality and the estimations of the prediction error of Perma-Fix Environmental stock data series using in forecasting. Note that when a statistical model is used to represent Perma-Fix Environmental 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 Criteria116.5869
BiasArithmetic mean of the errors None
MADMean absolute deviation0.358
MAPEMean absolute percentage error0.0285
SAESum of the absolute errors21.8387
This model is not at all useful as a medium-long range forecasting tool of Perma Fix Environmental Services. This model is simplistic and is included partly for completeness and partly because of its simplicity. It is unlikely that you'll want to use this model directly to predict Perma-Fix Environmental. Instead, consider using either the moving average model or the more general weighted moving average model with a higher (i.e., greater than 1) number of periods, and possibly a different set of weights.

Predictive Modules for Perma-Fix Environmental

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Perma Fix Environmental. 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
7.0611.0014.94
Details
Intrinsic
Valuation
LowRealHigh
5.829.7613.70
Details

Other Forecasting Options for Perma-Fix Environmental

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

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

Perma Fix Environmental 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 Perma-Fix Environmental'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 Perma-Fix Environmental's current price.

Perma-Fix Environmental Market Strength Events

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

Perma-Fix Environmental Risk Indicators

The analysis of Perma-Fix Environmental'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 Perma-Fix Environmental's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting perma-fix 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.

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked. Macroaxis thematic optimization helps investors identify companies most likely to benefit from changes or shifts in various micro-economic or local macro-level trends. Originating optimal thematic portfolios involves aligning investors' personal views, ideas, and beliefs with their actual investments.
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Additional Tools for Perma-Fix Stock Analysis

When running Perma-Fix Environmental's price analysis, check to measure Perma-Fix Environmental'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 Perma-Fix Environmental is operating at the current time. Most of Perma-Fix Environmental's value examination focuses on studying past and present price action to predict the probability of Perma-Fix Environmental's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Perma-Fix Environmental's price. Additionally, you may evaluate how the addition of Perma-Fix Environmental to your portfolios can decrease your overall portfolio volatility.