Worthington Steel Stock Forward View - Simple Moving Average
| Z2J Stock | 27.70 0.90 3.36% |
Worthington Steel's Simple Moving Average reference page summarizes the forecasted price and model accuracy metrics derived from daily trading data. This reference information is provided for analytical context.
The Simple Moving Average forecasted value of Worthington Steel on the next trading day is expected to be 27.70 with a mean absolute deviation of 0.90 and the sum of the absolute errors of 53.21.The simple moving average model is conceptually a linear regression of the current value of Worthington Steel price series against current and previous (unobserved) value of Worthington Steel. In time series analysis, the simple moving-average model is a very common approach for modeling univariate price series models including forecasting prices into the future This Simple Moving Average forecast data for Worthington Steel is sourced from the most recent available trading data and is intended solely as reference information. Simple Moving Average Price Forecast For the 19th of March
Given 90 days horizon, the Simple Moving Average forecasted value of Worthington Steel on the next trading day is expected to be 27.70 with a mean absolute deviation of 0.90 , mean absolute percentage error of 1.40 , and the sum of the absolute errors of 53.21 .Please note that although there have been many attempts to predict Worthington Stock prices using its time series forecasting, we generally do not suggest using it to place bets in the real market. The most commonly used models for forecasting predictions are the autoregressive models, which specify that Worthington Steel's next future price depends linearly on its previous prices and some stochastic term (i.e., imperfectly predictable multiplier).
Stock Forecast Pattern
| Backtest Worthington Steel | Worthington Steel Price Prediction | Research Analysis |
Forecasted Value
Forecasting Worthington Steel for the next session involves measuring the model's historical ability to define credible downside and upside scenarios. The projected forecast band currently runs from roughly 24.60 on the downside to about 30.80 on the upside.
Model Predictive Factors
The below table displays some essential indicators generated by the model showing the Simple Moving Average forecasting method's relative quality and the estimations of the prediction error of Worthington Steel stock data series using in forecasting. Note that when a statistical model is used to represent Worthington 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 | 114.7738 |
| Bias | Arithmetic mean of the errors | 0.0293 |
| MAD | Mean absolute deviation | 0.9019 |
| MAPE | Mean absolute percentage error | 0.0274 |
| SAE | Sum of the absolute errors | 53.21 |
Other Forecasting Options for Worthington Steel
The movement of Worthington price is the central consideration for investors deciding whether to enter or hold a position. Noise in Worthington Stock price charts can make it difficult to distinguish meaningful trends from random fluctuations.Worthington Steel Related Equities
The following equities are related to Worthington Steel within the Steel space and can be used for peer comparison, relative valuation, or portfolio diversification. Comparing Worthington Steel against peers on metrics such as P/E, margins, and return on equity helps contextualize its positioning and identify relative strengths or weaknesses.
| Risk & Return | Correlation |
Worthington Steel Market Strength Events
Investors use market strength indicators for Worthington Steel to evaluate how the stock performs relative to broader market trends. These indicators support more precise timing of Worthington Steel positions, helping investors maximize return and minimize poorly-timed trades.
Worthington Steel Risk Indicators
A careful analysis of Worthington Steel's basic risk indicators helps investors understand the risk environment surrounding worthington stock. This understanding is an essential input for forecasting Worthington Steel's future price and for deciding how to manage the associated investment risk.
| Mean Deviation | 2.3 | |||
| Standard Deviation | 3.04 | |||
| Variance | 9.26 |
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.
Story Coverage note for Worthington Steel
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More Resources for Worthington Stock Analysis
A structured review of Worthington Steel often starts with core financial statements and trend context. Financial ratios provide a structured lens for assessing Worthington Steel's profitability and growth trends. Below are reports that help frame Worthington Steel Stock in context:Historical Fundamental Analysis of Worthington Steel provides a cross-check on projections for Worthington Steel. The historical view provides additional context. For a detailed overview of how to trade Worthington Stock, see our How to Trade Worthington Stock guide.Worthington Steel currently shows ROE of 10.52%, market cap of 1.47 Billion. This analysis of Worthington Steel works best as a complementary layer when evaluating how the security fits in a broader portfolio. For Worthington Steel, the analytical tools below add portfolio-level context that single-security review alone cannot provide. You can also try the Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.