Not too much, but some. To quantify a bit: There are about 300-1000 observations per day for some years. I think the overall standard deviation is 20x the standard deviation of the daily means. But during some periods there is a marked change in the value for a while, which I would like to capture.
randn is what I meant, right.
In addition to the temporal variable, there are 2-5 continuous predictors and another 2-5 categorical ones.