Fig. 3From: Robust monitoring machine: a machine learning solution for out-of-sample R\(^2\)-hacking in return predictability monitoringReturn Predictability and Stock Valuations This figure shows the log dividend-price ratio (dotted line) and the probability that the proposed forecast outperforms the benchmark, computed by robust monitoring machine (solid line). The probability in the figure is shown as its 24-month trailing moving-average. The horizontal axis is yearBack to article page