Research-only Disclosure

Equity Forecast Lab is a research tool, not an investment advisory service. All outputs are probabilistic estimates of future return distributions conditional on the available information set; they are not predictions of future prices and they are not buy / sell / hold recommendations.

Every forecast carries explicit uncertainty as a distribution (μ, σ, q05, q50, q95, P(R>0), Expected Shortfall, confidence). A single “target price” representation is not provided by design.

MVP Limitations (FR-040)

Survivorship bias. The MVP universe is constructed from current S&P 500 membership with a documented snapshot date. Backtest results inherit this bias and are flagged on every Backtest detail view.
No paid analyst-consensus data. Revision features are computed from growth-acceleration proxies, not from analyst-consensus revisions.
Incomplete delisted-stock history. Companies that left the universe before the snapshot date are not backfilled.
Korea coverage. KOSPI / KOSDAQ is structurally ready (adapter stub + identifier schema) but not populated in the MVP.