Westport Fuel Stock Forecast - Polynomial Regression

WPRT Stock  CAD 5.89  0.17  2.81%   
The Polynomial Regression forecasted value of Westport Fuel Systems on the next trading day is expected to be 6.29 with a mean absolute deviation of 0.15 and the sum of the absolute errors of 9.34. Westport Stock Forecast is based on your current time horizon. Although Westport Fuel's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Westport Fuel's systematic risk associated with finding meaningful patterns of Westport Fuel fundamentals over time.
  
At this time, Westport Fuel's Inventory Turnover is very stable compared to the past year. As of the 13th of December 2024, Fixed Asset Turnover is likely to grow to 4.14, while Payables Turnover is likely to drop 3.04. . As of the 13th of December 2024, Common Stock Shares Outstanding is likely to grow to about 30.6 M, while Net Loss is likely to drop (39.5 M).
Westport Fuel polinomial regression implements a single variable polynomial regression model using the daily prices as the independent variable. The coefficients of the regression for Westport Fuel Systems as well as the accuracy indicators are determined from the period prices.

Westport Fuel Polynomial Regression Price Forecast For the 14th of December 2024

Given 90 days horizon, the Polynomial Regression forecasted value of Westport Fuel Systems on the next trading day is expected to be 6.29 with a mean absolute deviation of 0.15, mean absolute percentage error of 0.04, and the sum of the absolute errors of 9.34.
Please note that although there have been many attempts to predict Westport 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 Westport Fuel's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).

Westport Fuel Stock Forecast Pattern

Backtest Westport FuelWestport Fuel Price PredictionBuy or Sell Advice 

Westport Fuel Forecasted Value

In the context of forecasting Westport Fuel'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. Westport Fuel's downside and upside margins for the forecasting period are 4.40 and 8.18, respectively. We have considered Westport Fuel'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
5.89
6.29
Expected Value
8.18
Upside

Model Predictive Factors

The below table displays some essential indicators generated by the model showing the Polynomial Regression forecasting method's relative quality and the estimations of the prediction error of Westport Fuel stock data series using in forecasting. Note that when a statistical model is used to represent Westport Fuel 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 Criteria114.8388
BiasArithmetic mean of the errors None
MADMean absolute deviation0.1531
MAPEMean absolute percentage error0.0255
SAESum of the absolute errors9.3411
A single variable polynomial regression model attempts to put a curve through the Westport Fuel historical price points. Mathematically, assuming the independent variable is X and the dependent variable is Y, this line can be indicated as: Y = a0 + a1*X + a2*X2 + a3*X3 + ... + am*Xm

Predictive Modules for Westport Fuel

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Westport Fuel Systems. 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
4.196.077.95
Details
Intrinsic
Valuation
LowRealHigh
4.206.087.96
Details
Earnings
Estimates (0)
LowProjected EPSHigh
-0.41-0.35-0.24
Details

Other Forecasting Options for Westport Fuel

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

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

Westport Fuel Systems 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 Westport Fuel'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 Westport Fuel's current price.

Westport Fuel Market Strength Events

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

Westport Fuel Risk Indicators

The analysis of Westport Fuel'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 Westport Fuel's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting westport 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.

Pair Trading with Westport Fuel

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 Westport Fuel 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 Westport Fuel will appreciate offsetting losses from the drop in the long position's value.
The ability to find closely correlated positions to Westport Fuel could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Westport Fuel 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 Westport Fuel - 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 Westport Fuel Systems to buy it.
The correlation of Westport Fuel 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 Westport Fuel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Westport Fuel Systems 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 Westport Fuel 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.
Pair CorrelationCorrelation Matching
When determining whether Westport Fuel Systems is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Westport Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Westport Fuel Systems Stock. Highlighted below are key reports to facilitate an investment decision about Westport Fuel Systems Stock:
Check out Historical Fundamental Analysis of Westport Fuel to cross-verify your projections.
You can also try the ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
Please note, there is a significant difference between Westport Fuel's value and its price as these two are different measures arrived at by different means. Investors typically determine if Westport Fuel is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Westport Fuel's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.