CECO Environmental Stock Forecast - Naive Prediction
| WCE Stock | EUR 28.88 1.38 4.56% |
The Naive Prediction forecasted value of CECO Environmental Corp on the next trading day is expected to be 30.18 with a mean absolute deviation of 0.75 and the sum of the absolute errors of 45.88. CECO Stock Forecast is based on your current time horizon. We recommend always using this module together with an analysis of CECO Environmental's historical fundamentals, such as revenue growth or operating cash flow patterns.
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CECO Environmental Naive Prediction Price Forecast For the 5th of January
Given 90 days horizon, the Naive Prediction forecasted value of CECO Environmental Corp on the next trading day is expected to be 30.18 with a mean absolute deviation of 0.75, mean absolute percentage error of 0.83, and the sum of the absolute errors of 45.88.Please note that although there have been many attempts to predict CECO 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 CECO Environmental's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
CECO Environmental Stock Forecast Pattern
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CECO Environmental Forecasted Value
In the context of forecasting CECO 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. CECO Environmental's downside and upside margins for the forecasting period are 26.84 and 33.52, respectively. We have considered CECO 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.
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 CECO Environmental stock data series using in forecasting. Note that when a statistical model is used to represent CECO 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.| AIC | Akaike Information Criteria | 117.9277 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 0.7521 |
| MAPE | Mean absolute percentage error | 0.029 |
| SAE | Sum of the absolute errors | 45.8786 |
Predictive Modules for CECO 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 CECO Environmental Corp. 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 CECO Environmental
For every potential investor in CECO, whether a beginner or expert, CECO Environmental's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. CECO Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in CECO. Basic forecasting techniques help filter out the noise by identifying CECO Environmental's price trends.CECO 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 CECO Environmental stock to make a market-neutral strategy. Peer analysis of CECO Environmental could also be used in its relative valuation, which is a method of valuing CECO Environmental by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
CECO Environmental Corp 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 CECO 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 CECO Environmental's current price.| Cycle Indicators | ||
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CECO Environmental Market Strength Events
Market strength indicators help investors to evaluate how CECO 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 CECO Environmental shares will generate the highest return on investment. By undertsting and applying CECO Environmental stock market strength indicators, traders can identify CECO Environmental Corp entry and exit signals to maximize returns.
| Daily Balance Of Power | (9,223,372,036,855) | |||
| Rate Of Daily Change | 0.95 | |||
| Day Median Price | 28.88 | |||
| Day Typical Price | 28.88 | |||
| Price Action Indicator | (0.69) | |||
| Period Momentum Indicator | (1.38) | |||
| Relative Strength Index | 77.68 |
CECO Environmental Risk Indicators
The analysis of CECO 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 CECO Environmental's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting ceco 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 | 2.29 | |||
| Semi Deviation | 3.09 | |||
| Standard Deviation | 3.29 | |||
| Variance | 10.85 | |||
| Downside Variance | 11.09 | |||
| Semi Variance | 9.55 | |||
| Expected Short fall | (2.61) |
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.
Currently Active Assets on Macroaxis
Additional Information and Resources on Investing in CECO Stock
When determining whether CECO Environmental Corp offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of CECO Environmental's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Ceco Environmental Corp Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Ceco Environmental Corp Stock:Check out Historical Fundamental Analysis of CECO Environmental to cross-verify your projections. You can also try the Bonds Directory module to find actively traded corporate debentures issued by US companies.