Crude Oil Spot Price Forecasting Using Ivanov-Based LASSO Vector Autoregression

Table 5

Average RMSE across all spots for the different I-LV structures.

Time horizon	1	2	3	4	5
VAR	0.6475	3.0266	4.5879	12.0190	39.9989
I-sLV	0.5865	2.7230	2.8682	2.9548	2.8950
I-lLV	0.8478	2.7613	2.9743	3.1057	3.0991
I-lsLV	0.5851	2.7189	2.8645	2.9517	2.8928
I-ooLV	0.5873	2.7231	2.8661	2.9529	2.8925
I-cLV	0.5894	2.7310	2.8555	2.9234	2.8452

Notes: lowest values are highlighted in bold.