About accuracy of LSTM
One 'easy' way to test whether this performance is good, is to calculate the RMSE of a naive forecast. A naive forecast is forecasting the value from the previous step.
So if your series has the values [0, .2, .8, 2.2, 1.1], then the next predicted value would be '1.1'.
The RMSE from your LSTM should be smaller than the RMSE from your naive forecast, but even a smaller RMSE is no guarantee that your model is good.
I just built a price prediction model with LSTM and the RMSE was approximately 0.12. The price range is from 0 to 3. Does it mean the model is accurate? Are there any other ways to measure LSTM's accuracy?
Thank you!