Forecasting copper price using VAR and the XGBoost model: an experiment with a relatively small dataset
Given the importance of copper prices to investors, governments, and policymakers, this paper investigates short-term price predictability using VAR and XGBoost models. All models are trained with historical data from November 2021 to December 2022 and using MSE, RMSE and MAE for evaluating the model performance. The results show that the XGBoost model outperforms VAR models, implying that machine