Purple Biotech Stock Forecast - Polynomial Regression
| PPBT Stock | USD 0.57 0.02 3.64% |
The Polynomial Regression forecasted value of Purple Biotech on the next trading day is expected to be 0.67 with a mean absolute deviation of 0.07 and the sum of the absolute errors of 4.48. Purple Stock Forecast is based on your current time horizon.
Purple |
Open Interest Against 2024-06-21 Purple Option Contracts
Although open interest is a measure utilized in the options markets, it could be used to forecast Purple Biotech's spot prices because the number of available contracts in the market changes daily, and new contracts can be created or liquidated at will. Since open interest in Purple Biotech's options reflects these daily shifts, investors could use the patterns of these changes to develop long and short-term trading strategies for Purple Biotech stock based on available contracts left at the end of a trading day.
No Open InterestPlease note that to derive more accurate forecasting about market movement from the current Purple Biotech's open interest, investors have to compare it to Purple Biotech's spot prices. As Ford's stock price increases, high open interest indicates that money is entering the market, and the market is strongly bullish. Conversely, if the price of Purple Biotech is decreasing and there is high open interest, that is a sign that the bearish trend will continue, and investors may react by taking short positions in Purple. So, decreasing or low open interest during a bull market indicates that investors are becoming uncertain of the depth of the bullish trend, and a reversal in sentiment will likely follow.
Most investors in Purple Biotech 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 Purple Biotech's time series price data and predict how it will affect future prices. One of these methodologies is forecasting, which interprets Purple Biotech's price structures and extracts relationships that further increase the generated results' accuracy.
Purple Biotech polinomial regression implements a single variable polynomial regression model using the daily prices as the independent variable. The coefficients of the regression for Purple Biotech as well as the accuracy indicators are determined from the period prices. Purple Biotech Polynomial Regression Price Forecast For the 13th of June 2024
Given 90 days horizon, the Polynomial Regression forecasted value of Purple Biotech on the next trading day is expected to be 0.67 with a mean absolute deviation of 0.07, mean absolute percentage error of 0.01, and the sum of the absolute errors of 4.48.Please note that although there have been many attempts to predict Purple 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 Purple Biotech's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Purple Biotech Stock Forecast Pattern
| Backtest Purple Biotech | Purple Biotech Price Prediction | Buy or Sell Advice |
Purple Biotech Forecasted Value
In the context of forecasting Purple Biotech'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. Purple Biotech's downside and upside margins for the forecasting period are 0.01 and 7.56, respectively. We have considered Purple Biotech'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 Polynomial Regression forecasting method's relative quality and the estimations of the prediction error of Purple Biotech stock data series using in forecasting. Note that when a statistical model is used to represent Purple Biotech 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 | 115.0505 |
| Bias | Arithmetic mean of the errors | None |
| MAD | Mean absolute deviation | 0.0722 |
| MAPE | Mean absolute percentage error | 0.1179 |
| SAE | Sum of the absolute errors | 4.4777 |
Predictive Modules for Purple Biotech
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Purple Biotech. 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 Purple Biotech'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 Purple Biotech
For every potential investor in Purple, whether a beginner or expert, Purple Biotech's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Purple Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Purple. Basic forecasting techniques help filter out the noise by identifying Purple Biotech's price trends.View Purple Biotech Related Equities
| Risk & Return | Correlation |
Purple Biotech 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 Purple Biotech'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 Purple Biotech's current price.| Cycle Indicators | ||
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Purple Biotech Market Strength Events
Market strength indicators help investors to evaluate how Purple Biotech stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Purple Biotech shares will generate the highest return on investment. By undertsting and applying Purple Biotech stock market strength indicators, traders can identify Purple Biotech entry and exit signals to maximize returns.
| Accumulation Distribution | 13151.37 | |||
| Daily Balance Of Power | 0.25 | |||
| Rate Of Daily Change | 1.04 | |||
| Day Median Price | 0.59 | |||
| Day Typical Price | 0.58 | |||
| Price Action Indicator | (0.01) | |||
| Period Momentum Indicator | 0.02 |
Purple Biotech Risk Indicators
The analysis of Purple Biotech'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 Purple Biotech's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting purple 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 | 4.63 | |||
| Standard Deviation | 6.76 | |||
| Variance | 45.73 |
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 Purple Biotech
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 Purple Biotech 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 Purple Biotech will appreciate offsetting losses from the drop in the long position's value.Moving against Purple Stock
| 0.46 | MRK | Merck Company Financial Report 6th of August 2024 | PairCorr |
The ability to find closely correlated positions to Purple Biotech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Purple Biotech 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 Purple Biotech - 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 Purple Biotech to buy it.
The correlation of Purple Biotech 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 Purple Biotech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Purple Biotech 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 Purple Biotech 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.Additional Tools for Purple Stock Analysis
When running Purple Biotech's price analysis, check to measure Purple Biotech'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 Purple Biotech is operating at the current time. Most of Purple Biotech's value examination focuses on studying past and present price action to predict the probability of Purple Biotech's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Purple Biotech's price. Additionally, you may evaluate how the addition of Purple Biotech to your portfolios can decrease your overall portfolio volatility.