|  | N | Model I | Model II | Model III | Model IV | ||||
---|---|---|---|---|---|---|---|---|---|---|
 |  |  | MSE | MAE | MSE | MAE | MSE | MAE | MSE | MAE |
Estimation Sample | Full index | 1421 (100%) | 0.024 | 0.109 | 0.025 | 0.110 | 0.026 | 0.112 | 0.024 | 0.110 |
 | < 0.2 | 10 (0.68%) | N/A | 0.545 | 0.375 | 0.566 | 0.424 | 0.567 | N/A | 0.526 |
 | 0.2-0.4 | 53 (3.76%) | 0.184 | 0.350 | 0.146 | 0.366 | 0.155 | 0.377 | 0.192 | 0.392 |
 | 0.4-0.6 | 164 (11.57%) | 0.070 | 0.232 | 0.066 | 0.235 | 0.068 | 0.241 | 0.072 | 0.250 |
 | 0.6-0.8 | 329 (23.15%) | 0.008 | 0.066 | 0.007 | 0.063 | 0.007 | 0.064 | 0.005 | 0.057 |
 | 0.8-1.0 | 865 (60.85%) | 0.013 | 0.083 | 0.013 | 0.084 | 0.014 | 0.085 | 0.013 | 0.087 |
Validation Sample | Full index | 1421 (100%) | 0.025 | 0.110 | 0.024 | 0.110 | 0.025 | 0.111 | 0.023 | 0.108 |
 | < 0.2 | 10 (0.73%) | N/A | 0.538 | 0.351 | 0.555 | 0.389 | 0.547 | N/A | 0.502 |
 | 0.2-0.4 | 53 (3.70%) | 0.209 | 0.373 | 0.157 | 0.381 | 0.165 | 0.388 | 0.207 | 0.407 |
 | 0.4-0.6 | 163 (11.44%) | 0.071 | 0.233 | 0.064 | 0.234 | 0.067 | 0.235 | 0.071 | 0.246 |
 | 0.6-0.8 | 326 (22.95%) | 0.008 | 0.069 | 0.007 | 0.061 | 0.007 | 0.064 | 0.006 | 0.061 |
 | 0.8-1.0 | 869 (61.18%) | 0.013 | 0.083 | 0.013 | 0.084 | 0.014 | 0.085 | 0.013 | 0.087 |