Reliance Industries Stock Forecast - Simple Regression
| RLI Stock | EUR 54.60 0.20 0.37% |
The Simple Regression forecasted value of Reliance Industries Limited on the next trading day is expected to be 55.08 with a mean absolute deviation of 1.05 and the sum of the absolute errors of 63.98. Reliance Stock Forecast is based on your current time horizon. We recommend always using this module together with an analysis of Reliance Industries' historical fundamentals, such as revenue growth or operating cash flow patterns.
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Reliance Industries Simple Regression Price Forecast For the 23rd of December
Given 90 days horizon, the Simple Regression forecasted value of Reliance Industries Limited on the next trading day is expected to be 55.08 with a mean absolute deviation of 1.05, mean absolute percentage error of 1.82, and the sum of the absolute errors of 63.98.Please note that although there have been many attempts to predict Reliance 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 Reliance Industries' next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Reliance Industries Stock Forecast Pattern
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Reliance Industries Forecasted Value
In the context of forecasting Reliance Industries' 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. Reliance Industries' downside and upside margins for the forecasting period are 53.51 and 56.66, respectively. We have considered Reliance Industries' 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 Reliance Industries stock data series using in forecasting. Note that when a statistical model is used to represent Reliance Industries 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 | 118.7102 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 1.0488 |
| MAPE | Mean absolute percentage error | 0.0182 |
| SAE | Sum of the absolute errors | 63.9778 |
Predictive Modules for Reliance Industries
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Reliance Industries. 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 Reliance Industries
For every potential investor in Reliance, whether a beginner or expert, Reliance Industries' price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Reliance Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Reliance. Basic forecasting techniques help filter out the noise by identifying Reliance Industries' price trends.Reliance Industries 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 Reliance Industries stock to make a market-neutral strategy. Peer analysis of Reliance Industries could also be used in its relative valuation, which is a method of valuing Reliance Industries by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Reliance Industries 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 Reliance Industries' 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 Reliance Industries' current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
Reliance Industries Market Strength Events
Market strength indicators help investors to evaluate how Reliance Industries stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Reliance Industries shares will generate the highest return on investment. By undertsting and applying Reliance Industries stock market strength indicators, traders can identify Reliance Industries Limited entry and exit signals to maximize returns.
| Daily Balance Of Power | 9.2 T | |||
| Rate Of Daily Change | 1.0 | |||
| Day Median Price | 54.6 | |||
| Day Typical Price | 54.6 | |||
| Price Action Indicator | 0.1 | |||
| Period Momentum Indicator | 0.2 | |||
| Relative Strength Index | 39.52 |
Reliance Industries Risk Indicators
The analysis of Reliance Industries' 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 Reliance Industries' investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting reliance 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 | 1.25 | |||
| Standard Deviation | 1.59 | |||
| Variance | 2.54 |
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.
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Other Information on Investing in Reliance Stock
Reliance Industries financial ratios help investors to determine whether Reliance 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 Reliance with respect to the benefits of owning Reliance Industries security.