The disclosed embodiments relate to a system that characterizes susceptibility of an inferential model to follow signal degradation. During operation, the system receives a set of time-series signals associated with sensors in a monitored system during normal fault-free operation. Next, the system trains the inferential model using the set of time-series signals. The system then characterizes susceptibility of the inferential model to follow signal degradation. During this process, the system adds degradation to a signal in the set of time-series signals to produce a degraded signal. Next, the system uses the inferential model to perform prognostic-surveillance operations on the set of time-series signals with the degraded signal. Finally, the system characterizes susceptibility of the inferential model to follow degradation in the signal based on results of the prognostic-surveillance operations.