Forecasting Crude Oil Prices Using Reservoir Computing Models
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Abstract (arXiv)
Accurate crude oil price prediction is crucial for financial decision-making. We propose a novel reservoir computing model for forecasting crude oil prices. It outperforms popular deep learning methods in most scenarios, as demonstrated through rigorous evaluation using daily closing price data from major stock market indices. Our model's competitive advantage is further validated by comparing it with recent deep-learning approaches. This study introduces innovative reservoir computing models for predicting crude oil prices, with practical implications for financial practitioners. By leveraging advanced techniques, market participants can enhance decision-making and gain valuable insights into crude oil market dynamics.
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References · 8
- 2016An overview of gradient descent optimization algorithmscited by 1,021
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- 2018Temporal Pattern Attention for Multivariate Time Series Forecastingcited by 125
- 2020Physical reservoir computing -- An introductory perspectivecited by 58
- 2018Hybrid Forecasting of Chaotic Processes: Using Machine Learning in Conjunction with a Knowledge-Based Modelcited by 57
- 2020Time Series Forecasting Using LSTM Networks: A Symbolic Approachcited by 25
- 2020Physics-Informed Echo State Networkscited by 16
- 2016Bayesian optimization of hyper-parameters in reservoir computingcited by 13
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