Electricity Price Forecast Using Combined Models with Adaptive Weights Selected and Errors Calibrated by Hidden Markov Model

Table 2

Correlation coefficients of validation error sequences between the candidate models.

	𝑀1	𝑀2	𝑀3	𝑀4	𝑀5	𝑀6	Mean
𝑀1	—	0.63	0.52	0.47	0.34	0.66	0.44
𝑀2	0.63	—	0.62	0.62	0.57	0.66	0.52
𝑀3	0.52	0.62	—	0.91	0.78	0.62	0.57
𝑀4	0.47	0.62	0.91	—	0.89	0.56	0.57
𝑀5	0.34	0.57	0.78	0.89	—	0.46	0.51
𝑀6	0.66	0.66	0.62	0.56	0.46	—	0.49
Mean	0.44	0.52	0.57	0.57	0.51	0.49	—