| Period | Mean QMC | Mean LSMC | t-Value | p-Value |
| In-Sample | 46.35% | 52.63% | −3.26 | 0.00 |
| Out-Sample | 48.30% | 51.70% | −0.92 | 0.37 |
| All Periods | 46.97% | 52.33% | −3.35 | 0.00 |