Woori Technology Stock Forecast - Triple Exponential Smoothing

041190 Stock  KRW 8,110  390.00  5.05%   
The Triple Exponential Smoothing forecasted value of Woori Technology Investment on the next trading day is expected to be 8,220 with a mean absolute deviation of 307.67 and the sum of the absolute errors of 18,460. Woori Stock Forecast is based on your current time horizon. Investors can use this forecasting interface to forecast Woori Technology stock prices and determine the direction of Woori Technology Investment's future trends based on various well-known forecasting models. We recommend always using this module together with an analysis of Woori Technology's historical fundamentals, such as revenue growth or operating cash flow patterns.
  
Triple exponential smoothing for Woori Technology - 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 Woori Technology 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 Woori Technology price movement. However, neither of these exponential smoothing models address any seasonality of Woori Technology Inv.

Woori Technology Triple Exponential Smoothing Price Forecast For the 12th of December 2024

Given 90 days horizon, the Triple Exponential Smoothing forecasted value of Woori Technology Investment on the next trading day is expected to be 8,220 with a mean absolute deviation of 307.67, mean absolute percentage error of 171,457, and the sum of the absolute errors of 18,460.
Please note that although there have been many attempts to predict Woori 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 Woori Technology's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).

Woori Technology Stock Forecast Pattern

Backtest Woori TechnologyWoori Technology Price PredictionBuy or Sell Advice 

Woori Technology Forecasted Value

In the context of forecasting Woori Technology'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. Woori Technology's downside and upside margins for the forecasting period are 8,215 and 8,225, respectively. We have considered Woori Technology'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
8,110
8,220
Expected Value
8,225
Upside

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 Woori Technology stock data series using in forecasting. Note that when a statistical model is used to represent Woori Technology 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 CriteriaHuge
BiasArithmetic mean of the errors 85.6667
MADMean absolute deviation307.6667
MAPEMean absolute percentage error0.0353
SAESum of the absolute errors18460.0
As with simple exponential smoothing, in triple exponential smoothing models past Woori Technology observations are given exponentially smaller weights as the observations get older. In other words, recent observations are given relatively more weight in forecasting than the older Woori Technology Investment observations.

Predictive Modules for Woori Technology

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Woori Technology Inv. 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
8,1058,1108,115
Details
Intrinsic
Valuation
LowRealHigh
7,0727,0778,921
Details
Bollinger
Band Projection (param)
LowMiddleHigh
6,0088,42610,843
Details
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Woori Technology. Your research has to be compared to or analyzed against Woori Technology's peers to derive any actionable benefits. When done correctly, Woori Technology's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Woori Technology Inv.

Other Forecasting Options for Woori Technology

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

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

Woori Technology Inv 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 Woori Technology'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 Woori Technology's current price.

Woori Technology Market Strength Events

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

Woori Technology Risk Indicators

The analysis of Woori Technology'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 Woori Technology's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting woori 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 Woori Technology

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 Woori Technology 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 Woori Technology will appreciate offsetting losses from the drop in the long position's value.

Moving against Woori Stock

  0.7034830 Korea Real EstatePairCorr
  0.63053080 Wonbang TechPairCorr
The ability to find closely correlated positions to Woori Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Woori Technology 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 Woori Technology - 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 Woori Technology Investment to buy it.
The correlation of Woori Technology 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 Woori Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Woori Technology Inv 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 Woori Technology 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

Other Information on Investing in Woori Stock

Woori Technology financial ratios help investors to determine whether Woori Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Woori with respect to the benefits of owning Woori Technology security.