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Keywords: Fundamentals
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Journal Articles
Journal:
Critical Finance Review
Critical Finance Review (2025) 14 (4): 501–523.
Published: 04 December 2025
... as the fundamentals. Predictability is assessed “against a variety of benchmarks” (the random walk, the random walk with drift, and an AR(1) process). One snag is that, commodity prices being AR(1), only that third model is valid. Deleting inappropriate benchmarks and correcting a programming error, only one out...
