Boost Your Wealth: Multivariate Forecasts Beat Univariate in Precious Metals
The study used a method called multivariate random forests to predict future prices of four precious metals (gold, silver, platinum, and palladium). By comparing these predictions with those made using a different method for each metal individually, the researchers found that the multivariate approach was more accurate. This means that forecasting all the metals together gives better results than forecasting each metal separately.