Illinois Tool Stock Forecast - Naive Prediction
| ILT Stock | EUR 244.20 0.80 0.33% |
The Naive Prediction forecasted value of Illinois Tool Works on the next trading day is expected to be 242.68 with a mean absolute deviation of 2.27 and the sum of the absolute errors of 140.59. Illinois Stock Forecast is based on your current time horizon. We recommend always using this module together with an analysis of Illinois Tool's historical fundamentals, such as revenue growth or operating cash flow patterns.
Illinois |
Illinois Tool Naive Prediction Price Forecast For the 4th of January
Given 90 days horizon, the Naive Prediction forecasted value of Illinois Tool Works on the next trading day is expected to be 242.68 with a mean absolute deviation of 2.27, mean absolute percentage error of 7.40, and the sum of the absolute errors of 140.59.Please note that although there have been many attempts to predict Illinois 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 Illinois Tool's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Illinois Tool Stock Forecast Pattern
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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 Illinois Tool stock data series using in forecasting. Note that when a statistical model is used to represent Illinois Tool 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 | 121.9497 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 2.2677 |
| MAPE | Mean absolute percentage error | 0.0092 |
| SAE | Sum of the absolute errors | 140.5945 |
Predictive Modules for Illinois Tool
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Illinois Tool Works. 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.Illinois Tool 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 Illinois Tool stock to make a market-neutral strategy. Peer analysis of Illinois Tool could also be used in its relative valuation, which is a method of valuing Illinois Tool by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Illinois Tool Market Strength Events
Market strength indicators help investors to evaluate how Illinois Tool stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Illinois Tool shares will generate the highest return on investment. By undertsting and applying Illinois Tool stock market strength indicators, traders can identify Illinois Tool Works entry and exit signals to maximize returns.
| Daily Balance Of Power | 9.2 T | |||
| Rate Of Daily Change | 1.0 | |||
| Day Median Price | 244.2 | |||
| Day Typical Price | 244.2 | |||
| Price Action Indicator | 0.4 | |||
| Period Momentum Indicator | 0.8 | |||
| Relative Strength Index | 43.5 |
Illinois Tool Risk Indicators
The analysis of Illinois Tool'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 Illinois Tool's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting illinois 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 | 0.799 | |||
| Semi Deviation | 0.8184 | |||
| Standard Deviation | 1.02 | |||
| Variance | 1.04 | |||
| Downside Variance | 0.8786 | |||
| Semi Variance | 0.6698 | |||
| Expected Short fall | (0.87) |
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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Additional Information and Resources on Investing in Illinois Stock
When determining whether Illinois Tool Works is a strong investment it is important to analyze Illinois Tool's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Illinois Tool's future performance. For an informed investment choice regarding Illinois Stock, refer to the following important reports:Check out Risk vs Return Analysis to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors. You can also try the Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.