Forecasting commodities and especially oil prices have attracted significant research interest, often concluding that oil prices are not easy to forecast and implying an efficient market. In this paper, we revisit the efficient market hypothesis of the oil market, attempting to forecast the West Texas Intermediate oil prices under a machine learning framework. In doing so, we compile a dataset of 38 potential explanatory variables that are often used in the relevant literature. Next, through a selection process, we build forecasting models that use past oil prices, refined oil products and exchange rates as independent variables. Our empirical findings suggest that the Support Vector Machines (SVM) model coupled with the non-linear Radial Basis Function kernel outperforms the linear SVM and the traditional logistic regression (LOGIT) models. Moreover, we provide evidence that points to the rejection of even the weak form of efficiency in the oil market.
Hospital readmissions are regarded as a compounding economic factor for healthcare systems. In fact, the readmission rate is used in many countries as an indicator of the quality of services provided by a health institution. The ability to forecast patients’ readmissions allows for timely intervention and better post-discharge strategies, preventing future life-threatening events, and reducing medical costs to either the patient or the healthcare system. In this paper, four machine learning models are used to forecast readmissions: support vector machines with a linear kernel, support vector machines with an RBF kernel, balanced random forests, and weighted random forests. The dataset consists of 11,172 actual records of hospitalizations obtained from the General Hospital of Komotini “Sismanogleio” with a total of 24 independent variables. Each record is composed of administrative, medical-clinical, and operational variables. The experimental results indicate that the balanced random forest model outperforms the competition, reaching a sensitivity of 0.70 and an AUC value of 0.78.
In this paper we predict Bitcoin movements by utilizing a machine-learning framework. We compile a dataset of 24 potential explanatory variables that are often employed in the finance literature. Using daily data from 2nd of December 2014 to July 8th 2019, we build forecasting models that utilize past Bitcoin values, other cryptocurrencies, exchange rates and other macroeconomic variables. Our empirical results suggest that the traditional logistic regression model outperforms the linear support vector machine and the random forest algorithm, reaching an accuracy of 66%. Moreover, based on the results, we provide evidence that points to the rejection of weak form efficiency in the Bitcoin market.
Forecasting commodities and especially oil prices have attracted significant research interest, often concluding that oil prices are not easy to forecast and implying an efficient market. In this paper, we revisit the efficient market hypothesis of the oil market, attempting to forecast the West Texas Intermediate oil prices under a machine learning framework. In doing so, we compile a dataset of 38 potential explanatory variables that are often used in the relevant literature. Next, through a selection process, we build forecasting models that use past oil prices, refined oil products and exchange rates as independent variables. Our empirical findings suggest that the Support Vector Machines (SVM) model coupled with the non-linear Radial Basis Function kernel outperforms the linear SVM and the traditional logistic regression (LOGIT) models. Moreover, we provide evidence that points to the rejection of even the weak form of efficiency in the oil market.
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