Forecasting multivariate time series remains challenging due to complex cross-variable dependencies and the presence of heterogeneous external influences. This paper presents Spectrogram-Enhanced Multimodal Fusion (SEMF), which combines spectral and temporal representations for more accurate and robust forecasting. The target time series is transformed into Morlet wavelet spectrograms, from which a Vision Transformer encoder extracts localized, frequency-aware features. In parallel, exogenous variables, such as financial indicators and macroeconomic signals, are encoded via a Transformer to capture temporal dependencies and multivariate dynamics. A bidirectional cross-attention module integrates these modalities into a unified representation that preserves distinct signal characteristics while modeling cross-modal correlations. Applied to multiple commodity price forecasting tasks, SEMF achieves consistent improvements over seven competitive baselines across multiple forecasting horizons and evaluation metrics. These results demonstrate the effectiveness of multimodal fusion and spectrogram-based encoding in capturing multi-scale patterns within complex financial time series.
Figures & tables
Figure 1: Overall framework of Spectrogram-Enhanced Multimodal Fusion (SEMF).
Type
Variable
Target
Closing price of target commodity futures
Exogenous
US 10-year Treasury yield
US 2-year Treasury yield
US 3-month Treasury bill yield
US Dollar Index (DXY)
USD to CNY exchange rate
Table 1: Input variables for commodity price forecasting.
Category
Model
Commodity
RMSE ↓
RMAE ↓
MAPE ↓
R2↑
Time series-based
LSTM
Coal
18.86
0.1230
11.4718
-0.1821
Gold
538.60
0.2220
0.2139
-1.5574
Steel
570.24
0.1491
15.6967
-2.6951
iTransformer
Coal
104.09
0.5663
55.7048
-37.7016
Gold
112.52
0.0408
0.0407
0.9660
Steel
183.48
0.0419
4.1703
0.5649
Table 2: Performance comparison across multiple forecasting horizons. Results are averaged over all horizons. Red and blue denote the best and second-best results, respectively.
Model
H
RMSE
RMAE
MAPE
TimesNet
1
73.88
0.0269
0.0262
3
89.43
0.0325
0.0316
7
99.13
0.0363
0.0353
14
116.28
0.0426
0.0415
21
116.14
0.0418
0.0407
35
130.53
0.0469
0.0459
Table 3: Horizon-wise forecasting performance for Gold price forecasts. Best results are shown in red .
Image
RMSE
RMAE
MAPE
Line
187.98
0.0634
0.0617
STFT
173.20
0.0554
0.0544
CMOR
129.93
0.0495
0.0495
Morlet
107.05
0.0361
0.0358
Table 4: Forecasting performance of SEMF with different time-frequency representations.
RMSE
RMAE
MAPE
MLP
273.17
0.1097
0.1095
Transformer
107.05
0.0361
0.0358
Table 5: Comparison of SEMF performance using different Exogenous Feature Encoders (MLP vs. Transformer).
Fusion
RMSE
RMAE
MAPE
Single CA
200.66
0.0766
0.0776
Bi-CA
107.05
0.0361
0.0358
Table 6: Forecasting performance of SEMF with different cross-attention fusion strategies.
Patch
Scale
RMSE
RMAE
MAPE
8
64
199.32
0.0696
0.0670
16
64
142.79
0.0536
0.0524
8
128
107.05
0.0361
0.0358
16
128
181.61
0.0615
0.0587
Table 7: Forecasting performance of SEMF under varying patch sizes and Morlet wavelet scales.
Seq Length
RMSE
RMAE
MAPE
30
269.94
0.1092
0.1101
60
270.05
0.1090
0.1094
90
244.43
0.0848
0.0821
120
107.05
0.0361
0.0358
Table 8: Forecasting performance with different input sequence lengths.
Time series forecasting predicts future values from ordered observations using statistical, neural, and probabilistic models to support decisions under uncertainty.
Multimodal time series forecasting is crucial in real-world applications, where decisions depend on both numerical data and contextual signals. The core challenge is to effectively combine temporal numerical patterns with the context embedded in other modalities, such as text. While most existing methods align textual features with time-series patterns one step at a time, they neglect the multiscale temporal influences of contextual information such as time-series cycles and dynamic shifts. This mismatch between local alignment and global textual context can be addressed by spectral decomposition, which separates time series into frequency components capturing both short-term changes and long-term trends. In this paper, we propose SpecTF, a simple yet effective framework that integrates the effect of textual data on time series in the frequency domain. Our method extracts textual embeddings, projects them into the frequency domain, and fuses them with the time series' spectral components using a lightweight cross-attention mechanism. This adaptively reweights frequency bands based on textual relevance before mapping the results back to the temporal domain for predictions. Experimental results demonstrate that SpecTF significantly outperforms state-of-the-art models across diverse multi-modal time series datasets while utilizing considerably fewer parameters. Code is available at https://github.com/hiepnh137/SpecTF.
Huu Hiep Nguyen, Minh Hoang Nguyen, Dung Nguyen +1
Applied Artificial Intelligence Initiative Deakin University Geelong, Australia
Time series forecasting plays a pivotal role in critical sectors such as finance, energy, transportation, and meteorology. However, Long-term Time Series Forecasting (LTSF) remains a significant challenge because real-world signals contain highly entangled temporal dynamics that are difficult to fully capture from a purely 1D perspective. To break this representation bottleneck, we propose TriTS, a novel cross-modal disentanglement framework that projects 1D time series into orthogonal time, frequency, and 2D-vision spaces.To seamlessly bridge the 1D-to-2D modality gap without the prohibitive O(N2) computational overhead of Vision Transformers (ViTs), we introduce a Period-Aware Reshaping strategy and incorporate Visual Mamba (Vim). This approach efficiently models cross-period dependencies as global visual textures while maintaining linear computational complexity. Complementing this, we design a Multi-Resolution Wavelet Mixing (MR-WM) module for the frequency modality, which explicitly decouples non-stationary signals into trend and noise components to achieve fine-grained time-frequency localization. Finally, a streaming linear branch is retained in the time domain to anchor numerical stability. By dynamically fusing these three complementary representations, TriTS effectively adapts to diverse data contexts. Extensive experiments across multiple benchmark datasets demonstrate that TriTS achieves state-of-the-art (SOTA) performance, fundamentally outperforming existing vision-based forecasters by drastically reducing both parameter count and inference latency.
Xiang Ao
School of Software Engineering, Beijing Jiaotong University Beijing 100044, China
Multimodal time series forecasting has garnered significant attention for its potential to provide more accurate predictions than traditional single-modality models by leveraging rich information inherent in other modalities. However, due to fundamental challenges in modality alignment, existing methods often struggle to effectively incorporate multimodal data into predictions, particularly textual information that has a causal influence on time series fluctuations, such as emergency reports and policy announcements. In this paper, we reflect on the role of textual information in numerical forecasting and propose Time series transformers with Multimodal Mixture-of-Experts, TiMi, to unleash the causal reasoning capabilities of LLMs. Concretely, TiMi utilizes LLMs to generate inferences on future developments, which serve as guidance for time series forecasting. To seamlessly integrate both exogenous factors and time series into predictions, we introduce a Multimodal Mixture-of-Experts (MMoE) module as a lightweight plug-in to empower Transformer-based time series models for multimodal forecasting, eliminating the need for explicit representation-level alignment. Experimentally, our proposed TiMi demonstrates consistent state-of-the-art performance on sixteen real-world multimodal forecasting benchmarks, outperforming advanced baselines while offering both strong adaptability and interpretability.