(MENAFN- The Express Wire) Top Indian Stocks Selected by AI-Based Predictive Algorithm Beat S&P BSE Index
Posted on Nov 15 2019 1:00 PM
"I Know First issued a forecast evaluation report for the top Indian stocks package which covered the period from 1 January 2019 to 23 October 2019. The Top 5 stocks subset returned significant result – 20.84% with 74% hit ratio, providing 11 times out-performance above S&P BSE."
I Know First is a fintech company that specializes on AI-driven financial services, such as dailystock market forecastandalgorithmic tradingadvisory services. As part of its ongoing R & D activities, I Know First issued an evaluation report with a performance analysis for the dailybest Indian stocksforecasts. The major highlight of this investigation is that the daily algorithmic forecasts prove to provide the higher returns and hit ratios with increasing forecasting horizon and stricter signal filter, which indicates the signal's value as an investment decision criterion. The maximum average return of 20.84% coupled with 74% average hit ratio was observed for 3-months forecasts.
Overview
This report presents the results of live topIndian stocks forecasts'performance evaluation by I Know First. These stock market forecasts were provided to both individual and institutional investors.Indian stocksuniverse consists of Indian stocks traded on National Stocks Exchange (NSE) and Bombay Stock Exchange (BSE). Our proprietary developed AIstock algorithmis identifying the best market opportunities for long and short positions on a daily basis ahead of market opening. Each forecast is represented by a heatmap where the assets from this universe are ranked by signal and predictability, allowing investors to execute specific trades.
The below results were obtained when various signal filters were applied on top of the predictability filter producing daily subsets of the 30 most predictable assets. The major conclusions are:
- For long time horizons, Top 5 signals provided the most predictable stocks with a return of 20.84% in a 3-month investment horizon, beating the benchmark S & P BSE by 19.12%
- There is a clear positive correlation between increasing time horizons and average return
- For the 3-days, 7-days, 1-month and 3-months forecasts, all top signal assets subsets beat the benchmark
I Know First AI stock predicting algorithm produced daily Indian stock market forecasts from 1 January 2019 to 23 October 2019 that significantly out-performed the market. We recorded such returns by Top 20, Top 10 and Top 5 stocks' subsets when our predictability and signal indicators are used together as investment criterion. The Top 5 stocks filtered by predictability and signal yielded average return of 20.84% - more than any other asset subset and out-performed S & P BSE benchmark index by 11 times. Therefore, an investor who wants to elaborate on the most promising Indian stock market investment opportunities can do so by simultaneously applying the predictability and signal indicators as criteria for identifying the trade ideas with the highest potential for profit.
I Know First AI-driven Stock Market Forecast
I Know First is one of the most buzzing names in Israeli fintech and wealth-tech community. I Know First successfully developed and deployed into the market our proprietary AI-powered stock forecasting algorithm covering covers over 10,500 assets. Besides abovementionedstock market forecast , I Know first provides dailycurrency forecastandgold price predictions , as well as daily Apple stock prediction.
The algorithm is provided with market data that trails back 15 years to process every day, making sure its output reflects the up-to-date market conditions. By that our stock market forecasts represent a holistic approach to the market. I Know First algorithm treats global and local markets as a chaotic dynamic system, where a seemingly small event can have tremendous repercussions. In doing so, it ensures that its models accurately reflect statistical patterns of the markets.
The algorithm also incorporates genetic algorithms concept, allowing the system to keep track of its own successes and failures and re-configuring its models as necessary. This ensures high algorithm's adaptability to constantly changing market conditions reflected in the daily market data. The resulting design eliminates any potential human bias in the system making our stock market forecasts purely objective and statistically based.
The forecasts are delivered as an easy to interpret heatmap, which includes two numerical indicators, signal and predictability. The former indicates if a given asset is expected to go up (positive values) or down (negative values), while the latter demonstrates how accurate the algorithm was in its past predictions for this specific asset. The algorithm generates predictions for six time horizons, varying from three days to one year, which makes it worthy both for short-term trading and on long-term investment.
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