A Hybrid Forecasting Model for Nonstationary and Nonlinear Time Series in the Stochastic Process of CO₂ Emission Trading Price Fluctuation

Table 6

The comparison results of the proposed FIG-SVM model with traditional forecasting models.

Forecasting models	EUA spot	EUA futures—DEC18	EUA futures—DEC19
Panel A: Root Mean Square Error (RMSE)
ARIMA	0.031879	0.031678	0.030991
ARFIMA	0.031872	0.031690	0.030940
Markov-switching	0.031856	0.031577	0.030878
FIG-SVM	0.019108	0.020945	0.023091
Panel B: Error Reduction (%)
FIG-SVM/ARIMA	40.06	33.88	25.49
FIG-SVM/ARFIMA	40.05	33.91	25.37
FIG-SVM/Markov-switching	40.02	33.67	25.22