econ.EM · 2026-09-23 · No. 122
Econometrics, 2026-09-23.
1 new papers in econ.EM. Titles, authors,
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01 — The papers
1 entries-
01
Target alignment, dilution and forecast selection when cross-sectional forecasts share a common target
Masoud Soleimani
econ.EM · cs.LG · q-fin.ST · stat.ME
Forecasters often score the same units per date against one standardized realized outcome. We show that every standardized forecast splits exactly into a component aligned with this common target and a component uncorrelated with it. Three consequences follow: forecast-error correlation largely mirrors forecast correlation and is therefore a poor measure of diversity; an equally weighted combination beats a no-information forecast only when...
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