Gyeongnam Steel Stock Forecast - Naive Prediction
| 039240 Stock | KRW 3,295 30.00 0.92% |
The Naive Prediction forecasted value of Gyeongnam Steel Co on the next trading day is expected to be 3,442 with a mean absolute deviation of 50.09 and the sum of the absolute errors of 3,056. Gyeongnam Stock Forecast is based on your current time horizon. Investors can use this forecasting interface to forecast Gyeongnam Steel stock prices and determine the direction of Gyeongnam Steel Co's future trends based on various well-known forecasting models. We recommend always using this module together with an analysis of Gyeongnam Steel's historical fundamentals, such as revenue growth or operating cash flow patterns.
Check out Historical Fundamental Analysis of Gyeongnam Steel to cross-verify your projections. Gyeongnam |
Most investors in Gyeongnam Steel cannot accurately predict what will happen the next trading day because, historically, stock markets tend to be unpredictable and even illogical. Modeling turbulent structures requires applying different statistical methods, techniques, and algorithms to find hidden data structures or patterns within the Gyeongnam Steel's time series price data and predict how it will affect future prices. One of these methodologies is forecasting, which interprets Gyeongnam Steel's price structures and extracts relationships that further increase the generated results' accuracy.
A naive forecasting model for Gyeongnam Steel is a special case of the moving average forecasting where the number of periods used for smoothing is one. Therefore, the forecast of Gyeongnam Steel Co value for a given trading day is simply the observed value for the previous period. Due to the simplistic nature of the naive forecasting model, it can only be used to forecast up to one period. Gyeongnam Steel Naive Prediction Price Forecast For the 14th of May 2024
Given 90 days horizon, the Naive Prediction forecasted value of Gyeongnam Steel Co on the next trading day is expected to be 3,442 with a mean absolute deviation of 50.09, mean absolute percentage error of 4,146, and the sum of the absolute errors of 3,056.Please note that although there have been many attempts to predict Gyeongnam 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 Gyeongnam Steel's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Gyeongnam Steel Stock Forecast Pattern
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Gyeongnam Steel Forecasted Value
In the context of forecasting Gyeongnam Steel'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. Gyeongnam Steel's downside and upside margins for the forecasting period are 3,441 and 3,444, respectively. We have considered Gyeongnam Steel'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 Gyeongnam Steel stock data series using in forecasting. Note that when a statistical model is used to represent Gyeongnam Steel 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 | 126.4405 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 50.0918 |
| MAPE | Mean absolute percentage error | 0.0156 |
| SAE | Sum of the absolute errors | 3055.6028 |
Predictive Modules for Gyeongnam Steel
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Gyeongnam Steel. 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.Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Gyeongnam Steel's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Other Forecasting Options for Gyeongnam Steel
For every potential investor in Gyeongnam, whether a beginner or expert, Gyeongnam Steel's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Gyeongnam Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Gyeongnam. Basic forecasting techniques help filter out the noise by identifying Gyeongnam Steel's price trends.Gyeongnam Steel 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 Gyeongnam Steel stock to make a market-neutral strategy. Peer analysis of Gyeongnam Steel could also be used in its relative valuation, which is a method of valuing Gyeongnam Steel by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Gyeongnam Steel 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 Gyeongnam Steel'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 Gyeongnam Steel's current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
Gyeongnam Steel Market Strength Events
Market strength indicators help investors to evaluate how Gyeongnam Steel stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Gyeongnam Steel shares will generate the highest return on investment. By undertsting and applying Gyeongnam Steel stock market strength indicators, traders can identify Gyeongnam Steel Co entry and exit signals to maximize returns.
Gyeongnam Steel Risk Indicators
The analysis of Gyeongnam Steel'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 Gyeongnam Steel's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting gyeongnam 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 | 1.12 | |||
| Semi Deviation | 1.7 | |||
| Standard Deviation | 1.77 | |||
| Variance | 3.13 | |||
| Downside Variance | 3.86 | |||
| Semi Variance | 2.89 | |||
| Expected Short fall | (1.34) |
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.
Thematic Opportunities
Explore Investment Opportunities
Check out Historical Fundamental Analysis of Gyeongnam Steel to cross-verify your projections. Note that the Gyeongnam Steel information on this page should be used as a complementary analysis to other Gyeongnam Steel's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
Complementary Tools for Gyeongnam Stock analysis
When running Gyeongnam Steel's price analysis, check to measure Gyeongnam Steel's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Gyeongnam Steel is operating at the current time. Most of Gyeongnam Steel's value examination focuses on studying past and present price action to predict the probability of Gyeongnam Steel's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Gyeongnam Steel's price. Additionally, you may evaluate how the addition of Gyeongnam Steel to your portfolios can decrease your overall portfolio volatility.
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