\begin{table}[htbp]\centering\small \caption{Final: WIS relative to Random walk (trailing RMS)} \label{tab:final_cmp_wis} \begin{adjustbox}{max width=\textwidth} \begin{tabular}{lcccc} \toprule Model & $H=5$ & $H=15$ & $H=30$ & $H=60$ \\ \midrule Seasonal volatility & -2.59\% (-25.6) & -2.94\% (-29.5) & -2.98\% (-24.1) & -3.12\% (-17.4) \\ EWMA-$t$ & -3.64\% (-34.6) & -3.70\% (-30.6) & -3.41\% (-27.6) & -3.09\% (-17.5) \\ HAR-RV & -2.07\% (-21.2) & -4.22\% (-42.7) & -4.23\% (-33.1) & -4.45\% (-22.9) \\ GARCH(1,1)-$t$ & -3.48\% (-28.9) & -3.79\% (-25.2) & -3.45\% (-26.7) & -3.01\% (-15.7) \\ Ridge & -2.65\% (-21.1) & -4.28\% (-40.2) & -4.31\% (-32.7) & -4.52\% (-23.3) \\ Elastic net & -2.64\% (-21.1) & -4.27\% (-40.0) & -4.31\% (-32.7) & -4.52\% (-23.2) \\ LightGBM & -2.49\% (-19.5) & -4.03\% (-32.1) & -4.38\% (-33.1) & -4.53\% (-22.8) \\ MLP (1m) & -4.08\% (-49.6) & -4.09\% (-46.0) & -4.02\% (-39.4) & -4.03\% (-27.3) \\ TCN (1m) & -4.14\% (-43.1) & -3.99\% (-41.9) & -3.81\% (-37.5) & -3.70\% (-26.2) \\ MRPT-S (1m+5m+30m) & -4.23\% (-38.1) & -4.15\% (-42.8) & -4.07\% (-38.1) & -4.09\% (-26.2) \\ MRPT-S (1m only) & -4.23\% (-38.3) & -4.17\% (-42.6) & -4.10\% (-37.8) & -4.09\% (-25.8) \\ MRPT-B (1m+5m+30m) & -4.20\% (-38.6) & -4.12\% (-46.5) & -4.06\% (-39.2) & -4.07\% (-28.0) \\ \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}