Table 7
Out-of-Sample Forecast Accuracy Comparisons
|
Maturity |
1-Month Horizon |
12-Month Horizon | ||
|
against |
against |
against |
against | |
|
3 months |
-0.27 |
0.18 |
-1.65* |
-2.43* |
|
1 year |
-0.64 |
-0.56 |
-2.04* |
-2.31* |
|
3 years |
-0.02 |
-0.58 |
-2.11* |
-2.18* |
|
5 years |
0.97 |
0.57 |
-1.61 |
-1.90* |
|
10 years |
0.49 |
0.34 |
-0.63 |
-1.35 |
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