\begin{table}[htbp]\centering\small
\caption{Pilot: WIS relative to Random walk (trailing RMS)}
\label{tab:pilot_cmp_wis}
\begin{adjustbox}{max width=\textwidth}
\begin{tabular}{lcccc}
\toprule
Model & $H=5$ & $H=15$ & $H=30$ & $H=60$ \\
\midrule
Seasonal volatility & -1.98\% (-5.1) & -2.60\% (-6.2) & -2.77\% (-5.3) & -2.12\% (-3.1) \\
EWMA-$t$ & -2.82\% (-7.5) & -2.86\% (-6.4) & -2.69\% (-5.1) & -1.70\% (-2.1) \\
HAR-RV & +0.12\% (0.3) & -3.34\% (-8.1) & -3.44\% (-7.1) & -3.16\% (-4.5) \\
GARCH(1,1)-$t$ & -2.56\% (-8.4) & -2.59\% (-7.4) & -2.45\% (-6.7) & -1.43\% (-3.1) \\
Ridge & -2.06\% (-3.4) & -3.26\% (-5.8) & -3.55\% (-5.7) & -3.14\% (-4.2) \\
Elastic net & -2.12\% (-3.5) & -3.30\% (-6.0) & -3.55\% (-5.7) & -3.07\% (-4.0) \\
LightGBM & +3.37\% (3.7) & +1.49\% (1.8) & +1.39\% (1.3) & +2.43\% (1.7) \\
MLP (1m) & -3.24\% (-9.0) & -3.15\% (-8.3) & -3.23\% (-7.3) & -2.59\% (-4.1) \\
TCN (1m) & -3.25\% (-9.7) & -3.15\% (-7.9) & -3.41\% (-7.4) & -2.64\% (-3.9) \\
MRPT-S (1m+5m+30m) & -3.13\% (-8.7) & -3.29\% (-8.1) & -3.57\% (-7.3) & -2.78\% (-4.2) \\
MRPT-S (1m only) & -3.13\% (-8.7) & -3.20\% (-7.9) & -3.39\% (-6.9) & -2.53\% (-3.8) \\
\bottomrule
\end{tabular}
\end{adjustbox}
\begin{minipage}{0.95\textwidth}\scriptsize Relative change in mean WIS versus the reference (negative = better); Diebold--Mariano $t$-statistic with HAC variance in parentheses.\end{minipage}
\end{table}