A Forecast Combination Framework with Multi-Time Scale for Livestock Products’ Price Forecasting

Table 3

Descriptive analysis of the performance between different combination methods.

Combination methods	Mean	Standard deviation	Minimum	Maximum
Panel A: RMSE
GM-VAR	1.6511	0.7620	0.8503	2.5871
VAR	1.6812	0.7326	0.8990	2.5864
GM-MSE	1.9303	0.5974	1.4421	2.6613
INV-MSE	1.9309	0.5962	1.4433	2.6613
RANK	1.9860	0.5426	1.4842	2.6600
HM-EW	2.0042	0.5197	1.4369	2.6620
GM-EW	2.0052	0.5186	1.4377	2.6620
EW	2.0063	0.5176	1.4386	2.6621
HM-MSE	2.0874	0.5069	1.4321	2.6627
HM-VAR	2.9945	0.3018	2.7255	3.2860
Panel B: MAPE
GM-VAR	12.0827	17.8351	1.1851	38.7003
VAR	12.1404	17.7965	1.2528	38.6921
GM-MSE	13.1937	17.8773	2.0560	39.6575
INV-MSE	13.1963	17.8760	2.0614	39.6578
RANK	13.3246	17.7887	2.3339	39.6407
HM-EW	13.3291	17.7692	2.6152	39.6666
GM-EW	13.3323	17.7673	2.6229	39.6669
EW	13.3355	17.7656	2.6246	39.6672
HM-MSE	13.4727	17.6592	2.6408	39.6760
HM-VAR	17.2111	17.6571	2.8690	40.9864