True or false

Since stock markets are inefficient, returns are not predictable. Select one: O True O False The Variance Ratio statistic takes the value 1 when returns are highly correlated with past returns. Select one: O True O False The greatest advantage of using valuation ratios such as the dividend price ratio to forecast stock returns is that the numerator does not move around a lot. This ensures that the ratio is highly persistent, thus allow for autoregressive coefficients that are estimated. Select one: O True O False