Wipro Limited Stock Forecast - Triple Exponential Smoothing
| WIT Stock | USD 5.41 0.01 0.19% |
The Triple Exponential Smoothing forecasted value of Wipro Limited ADR on the next trading day is expected to be 5.41 with a mean absolute deviation of 0.06 and the sum of the absolute errors of 3.43. Wipro Stock Forecast is based on your current time horizon. Investors can use this forecasting interface to forecast Wipro Limited stock prices and determine the direction of Wipro Limited ADR's future trends based on various well-known forecasting models. We recommend always using this module together with an analysis of Wipro Limited's historical fundamentals, such as revenue growth or operating cash flow patterns.
Check out Historical Fundamental Analysis of Wipro Limited to cross-verify your projections. Wipro |
Most investors in Wipro Limited 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 Wipro Limited's time series price data and predict how it will affect future prices. One of these methodologies is forecasting, which interprets Wipro Limited's price structures and extracts relationships that further increase the generated results' accuracy.
Triple exponential smoothing for Wipro Limited - also known as the Winters method - is a refinement of the popular double exponential smoothing model with the addition of periodicity (seasonality) component. Simple exponential smoothing technique works best with data where there are no trend or seasonality components to the data. When Wipro Limited prices exhibit either an increasing or decreasing trend over time, simple exponential smoothing forecasts tend to lag behind observations. Double exponential smoothing is designed to address this type of data series by taking into account any trend in Wipro Limited price movement. However, neither of these exponential smoothing models address any seasonality of Wipro Limited ADR. Wipro Limited Triple Exponential Smoothing Price Forecast For the 24th of May
Given 90 days horizon, the Triple Exponential Smoothing forecasted value of Wipro Limited ADR on the next trading day is expected to be 5.41 with a mean absolute deviation of 0.06, mean absolute percentage error of 0.01, and the sum of the absolute errors of 3.43.Please note that although there have been many attempts to predict Wipro 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 Wipro Limited's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Wipro Limited Stock Forecast Pattern
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Wipro Limited Forecasted Value
In the context of forecasting Wipro Limited'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. Wipro Limited's downside and upside margins for the forecasting period are 4.07 and 6.74, respectively. We have considered Wipro Limited'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 Triple Exponential Smoothing forecasting method's relative quality and the estimations of the prediction error of Wipro Limited stock data series using in forecasting. Note that when a statistical model is used to represent Wipro Limited 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 | Huge |
| Bias | Arithmetic mean of the errors | 0.008 |
| MAD | Mean absolute deviation | 0.0582 |
| MAPE | Mean absolute percentage error | 0.0103 |
| SAE | Sum of the absolute errors | 3.4326 |
Predictive Modules for Wipro Limited
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Wipro Limited ADR. 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 Wipro Limited'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 Wipro Limited
For every potential investor in Wipro, whether a beginner or expert, Wipro Limited's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Wipro Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Wipro. Basic forecasting techniques help filter out the noise by identifying Wipro Limited's price trends.View Wipro Limited Related Equities
| Risk & Return | Correlation |
Wipro Limited ADR 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 Wipro Limited'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 Wipro Limited's current price.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
Wipro Limited Market Strength Events
Market strength indicators help investors to evaluate how Wipro Limited stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Wipro Limited shares will generate the highest return on investment. By undertsting and applying Wipro Limited stock market strength indicators, traders can identify Wipro Limited ADR entry and exit signals to maximize returns.
Wipro Limited Risk Indicators
The analysis of Wipro Limited'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 Wipro Limited's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting wipro 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 | 0.9812 | |||
| Standard Deviation | 1.33 | |||
| Variance | 1.78 |
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 Wipro Limited
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 Wipro Limited 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 Wipro Limited will appreciate offsetting losses from the drop in the long position's value.Moving together with Wipro Stock
| 0.64 | G | Genpact Limited | PairCorr |
Moving against Wipro Stock
| 0.64 | AUR | Aurora Innovation Earnings Call Today | PairCorr |
| 0.57 | FIS | Fidelity National | PairCorr |
The ability to find closely correlated positions to Wipro Limited could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Wipro Limited 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 Wipro Limited - 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 Wipro Limited ADR to buy it.
The correlation of Wipro Limited 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 Wipro Limited moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Wipro Limited ADR 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 Wipro Limited 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.Check out Historical Fundamental Analysis of Wipro Limited to cross-verify your projections. You can also try the Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
Complementary Tools for Wipro Stock analysis
When running Wipro Limited's price analysis, check to measure Wipro Limited'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 Wipro Limited is operating at the current time. Most of Wipro Limited's value examination focuses on studying past and present price action to predict the probability of Wipro Limited's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Wipro Limited's price. Additionally, you may evaluate how the addition of Wipro Limited to your portfolios can decrease your overall portfolio volatility.
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Is Wipro Limited's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Wipro Limited. If investors know Wipro will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Wipro Limited listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of Wipro Limited ADR is measured differently than its book value, which is the value of Wipro that is recorded on the company's balance sheet. Investors also form their own opinion of Wipro Limited's value that differs from its market value or its book value, called intrinsic value, which is Wipro Limited's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Wipro Limited's market value can be influenced by many factors that don't directly affect Wipro Limited's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Wipro Limited's value and its price as these two are different measures arrived at by different means. Investors typically determine if Wipro Limited is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Wipro Limited'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.