Ritchie Bros Stock Forecast - Simple Regression
| RBA Stock | CAD 138.34 0.78 0.57% |
The Simple Regression forecasted value of Ritchie Bros Auctioneers on the next trading day is expected to be 133.62 with a mean absolute deviation of 4.51 and the sum of the absolute errors of 274.81. Ritchie Stock Forecast is based on your current time horizon. Although Ritchie Bros' naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Ritchie Bros' systematic risk associated with finding meaningful patterns of Ritchie Bros fundamentals over time.
Ritchie |
Ritchie Bros Simple Regression Price Forecast For the 3rd of December
Given 90 days horizon, the Simple Regression forecasted value of Ritchie Bros Auctioneers on the next trading day is expected to be 133.62 with a mean absolute deviation of 4.51, mean absolute percentage error of 25.38, and the sum of the absolute errors of 274.81.Please note that although there have been many attempts to predict Ritchie 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 Ritchie Bros' next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Ritchie Bros Stock Forecast Pattern
| Backtest Ritchie Bros | Ritchie Bros Price Prediction | Buy or Sell Advice |
Ritchie Bros Forecasted Value
In the context of forecasting Ritchie Bros' 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. Ritchie Bros' downside and upside margins for the forecasting period are 132.14 and 135.09, respectively. We have considered Ritchie Bros' 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 Regression forecasting method's relative quality and the estimations of the prediction error of Ritchie Bros stock data series using in forecasting. Note that when a statistical model is used to represent Ritchie Bros 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 | 121.3444 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 4.5051 |
| MAPE | Mean absolute percentage error | 0.0385 |
| SAE | Sum of the absolute errors | 274.8119 |
Predictive Modules for Ritchie Bros
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Ritchie Bros Auctioneers. 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 Ritchie Bros
For every potential investor in Ritchie, whether a beginner or expert, Ritchie Bros' price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Ritchie Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Ritchie. Basic forecasting techniques help filter out the noise by identifying Ritchie Bros' price trends.Ritchie Bros 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 Ritchie Bros stock to make a market-neutral strategy. Peer analysis of Ritchie Bros could also be used in its relative valuation, which is a method of valuing Ritchie Bros by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Ritchie Bros Auctioneers 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 Ritchie Bros' 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 Ritchie Bros' current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
Ritchie Bros Market Strength Events
Market strength indicators help investors to evaluate how Ritchie Bros stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Ritchie Bros shares will generate the highest return on investment. By undertsting and applying Ritchie Bros stock market strength indicators, traders can identify Ritchie Bros Auctioneers entry and exit signals to maximize returns.
Ritchie Bros Risk Indicators
The analysis of Ritchie Bros' 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 Ritchie Bros' investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting ritchie 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 | 1.05 | |||
| Semi Deviation | 0.8598 | |||
| Standard Deviation | 1.47 | |||
| Variance | 2.17 | |||
| Downside Variance | 1.27 | |||
| Semi Variance | 0.7392 | |||
| Expected Short fall | (1.24) |
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 Ritchie Bros
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 Ritchie Bros 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 Ritchie Bros will appreciate offsetting losses from the drop in the long position's value.Moving against Ritchie Stock
| 0.84 | CMC | Cielo Waste Solutions | PairCorr |
| 0.52 | AEMC | Alaska Energy Metals | PairCorr |
| 0.49 | EOG | Eco Atlantic Oil | PairCorr |
The ability to find closely correlated positions to Ritchie Bros could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ritchie Bros 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 Ritchie Bros - 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 Ritchie Bros Auctioneers to buy it.
The correlation of Ritchie Bros 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 Ritchie Bros moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ritchie Bros Auctioneers 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 Ritchie Bros 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.Other Information on Investing in Ritchie Stock
Ritchie Bros financial ratios help investors to determine whether Ritchie 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 Ritchie with respect to the benefits of owning Ritchie Bros security.