Daily Crude Oil Price Forecasting Using Hybridizing Wavelet and Artificial Neural Network Model

Table 2

Coefficient of determination (𝑅²) between each of subtime series for Brent and WTI data.

Data	DWT	Coefficient of determination (𝑅^2) with original crude oil prices series						Mean
		𝑡−1	𝑡−2	𝑡−3	𝑡−4	𝑡−5	𝑡−6	𝑅^2
Brent	D1	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
	D2	0.0000	0.0000	0.0001	0.0002	0.0000	0.0000	0.0001
	D3	0.0006	0.0006	0.0002	0.0000	0.0002	0.0002	0.0003
	A3	0.9895	0.9917	0.9937	0.9954	0.9967	0.9967	0.9940
WTI	D1	0.0000	0.0052	0.0021	0.0053	0.0000	0.1619	0.0291
	D2	0.0027	0.0149	0.0001	0.0866	0.1092	0.0274	0.0402
	D3	0.0353	0.0622	0.0472	0.0060	0.0107	0.0750	0.0394
	A3	0.0040	0.0143	0.0311	0.0511	0.0721	0.0886	0.0435