1\begin{table}[htbp]\centering\small2\caption{Pilot: QLIKE relative to Random walk (trailing RMS)}3\label{tab:pilot_cmp_qlike}4\begin{adjustbox}{max width=\textwidth}5\begin{tabular}{lcccc}6\toprule7Model & $H=5$ & $H=15$ & $H=30$ & $H=60$ \\8\midrule9Seasonal volatility & -6631047621301.96\% (-3.7) & -9798545943930.17\% (-6.7) & -8922777889662.27\% (-5.8) & -8074565519238.53\% (-4.6) \\10EWMA-$t$ & -12554922968119.03\% (-8.8) & -11610326741044.22\% (-8.6) & -9962403507408.67\% (-6.7) & -7537309379639.13\% (-3.7) \\11HAR-RV & +7877866372961.78\% (4.6) & -14099293226631.73\% (-13.0) & -13394448504861.81\% (-10.4) & -12560029461854.98\% (-8.0) \\12GARCH(1,1)-$t$ & -6845837520747.71\% (-5.6) & -4710411807615.16\% (-4.2) & -1671497472176.46\% (-1.3) & +4026232839171.85\% (2.9) \\13Ridge & -2945713870141.00\% (-1.4) & -14078646030114.02\% (-11.7) & -13850072137900.00\% (-9.9) & -13521968596908.26\% (-8.3) \\14Elastic net & -2906922453727.77\% (-1.4) & -14052357953211.58\% (-11.7) & -13800380130330.72\% (-9.9) & -13480669954535.19\% (-8.2) \\15LightGBM & +80780260086423.78\% (1.4) & -12012831272926.51\% (-7.3) & -12181626304741.97\% (-7.1) & -11572312577415.51\% (-6.0) \\16MLP (1m) & -13608727182964.57\% (-13.2) & -13379373428123.78\% (-13.6) & -13042336995340.29\% (-11.2) & -12126414938724.40\% (-8.1) \\17TCN (1m) & -13969630443261.25\% (-13.3) & -13939960177831.86\% (-13.9) & -13400649669390.51\% (-12.0) & -12492078176605.08\% (-8.7) \\18MRPT-S (1m+5m+30m) & -14426818050181.94\% (-11.8) & -14161537101518.33\% (-13.4) & -13449231005232.20\% (-12.1) & -12662443344111.06\% (-9.2) \\19MRPT-S (1m only) & -13769052086011.91\% (-11.5) & -13594106578801.23\% (-13.2) & -12903146151897.46\% (-11.4) & -12091461273483.05\% (-8.3) \\20\bottomrule21\end{tabular}22\end{adjustbox}23\begin{minipage}{0.95\textwidth}\scriptsize Relative change in mean QLIKE versus the reference (negative = better); Diebold--Mariano $t$-statistic with HAC variance in parentheses.\end{minipage}24\end{table}