*4.4. Comparison*

In this section, the combined output from the three models above is discussed. Table 10 shows a sample of the empirical results obtained from the models and Figure 12 displays the result graphically.




**Table 10.** *Cont.*

From Figure 12 it clear that that ARIMA(0,2,1) model's output and GBM model's output are very close, sometimes they coincide, whereas the output from the ANN(7-15-1) model gets far from the actual points as time increases.

**Figure 12.** Prediction by all three models against the actual stock price.

Looking at the error measures in Table 11, it is clear that the ARIMA model and stochastic model perform better than the neural network model for predicting the next-day stock price.


**Table 11.** Error measures comparison from the three models.
