Efficient Frontier and CAPM ExerciseEfficient Frontier and CAPM Exercise. Estimated completion time:...

Question

Efficient Frontier and CAPM ExerciseEfficient Frontier and CAPM Exercise. Estimated completion time: for Excel experts 2 hours, for Excel novices 20 hours.1. The file 2023FallDataFileWRDS contains monthly closing prices (col D), cash dividends (C) and cum split factors (E) for GE, AAPL and PG (stocks in that order). The file 2023FallTBills contains annualized TBill rates (divide by 1200 to convert to monthly %).  a. Create a sheet titled “PriceData” with 10 columns: Date, GEPrice, GEDiv, GEFact, AAPLPrice, AAPLDiv, AAPLFact, PGPrice, PGDiv, PGFact. Dates should run from Dec 2013 to Dec 2021, i.e. 97 rows of data. . Create a sheet “ReturnData” with 5 columns: Date, GE, AAPL, PG, MKT Index. Compute returns for each stock for each month by taking the natural log of [that month’s price with the dividend added if any] divided by the cum split factor minus the natural log of the previous month’s price divided by the factor. That is, compute the continuously compounded return Rt=ln((Pt+Dt)/Ft)-ln(Pt-1/Ft-1) instead of a simple arithmetic return Rt= (Pt+Dt -Pt-1)/Pt-1. Pt denotes the price for a given month and Pt-1 denotes the price for the prior month. Dates run from Jan 2014 to Dec 2021; no Dec 2013; 96 rows of returns. ln() is the natural logarithm function in Excel, so your formula might be =ln((D5 +C5)/E5)-ln(D6/E6) if factors are in col F and dividends in col C. For MKT Index; copy and eformat to % the repeated Value-Weighted Index returns in col G; make sure dates align.  Sort all tabs in reverse chronological order, e.g. Dec2021 to Jan2014. Check that your formulas are still coect, ie ln(this month’s adj price) minus ln(prior), not vice versa. 2. Create a sheet titled “PG”. First, without the use of functions average() and stdev(), compute the average and the std. deviation of PG’s returns. Copy the dates and PG returns from “ReturnData” into the sheet, sum the return column and divide by the number of observations (=96) to get the mean Ravg. Create a column with (Rt -Ravg)2, sum it, divide by the number of observations minus one (=95), take a square root (sqrt()) of the result to get the st. deviation. Verify next to it that the Excel functions average() and stdev() give identical answers.  3. Create a sheet “PortfolioReturns” (like “ReturnData”) in which you generate returns on portfolios with the follwng respective weights for the three stocks: (30, 20, 50), (40, 40, 10), (10, 40, 50), (33 1/3, 33 1/3, 33 1/3), (50, 25, 25), (25, 50, 25), (25, 25, 50), (10, 20, 70), (20, 10, 70), (70, 20, 10). For example, (25, 50, 25) means that you put 25% in GE, 50% in AAPL and 25% in PG. Prepend a column of dates and three columns of individual stock returns. Append a column with Index returns. You end up with 15 columns: Date, the three stocks, the 10 portfolios labeled P1-P10, and Index. Dates Jan 2014 to Dec 2021, i.e. 96 rows. At the ottom of each return column compute the mean and the st. dev. of monthly returns using functions AVERAGE() and STDEV(). Note: XXXXXXXXXX ≠ 33 1/3. Enter (1/3), not 0.3333. 4. Create a sheet “Frontier”. Copy the results from 3. into a transposed 14rows x 3cols table. Columns are: portfolio label, stdev, mean. Rows are the 14 assets. Create an efficient frontier graph with mean on the Y-axis and st. deviation on the X-axis. Use “XY Scatter” from the graph menu. Each portfolio should be represented by a labeled dot. Assume the risk free (TBill) rate of 0.05%= XXXXXXXXXXAdd the Capital Market Line which goes through point (0, 0.05%) and is tangent to the efficient frontier (eyeball to tell which of the 14 points it should go close to). You can do this last part (CML) by hand/i.e. using the draw tool. 5.  a. Create a sheet “Regressions”. Copy the date column from “ReturnData” into Col A. From the 2023SpringTBills.xlsx file copy 96 Tbill rates for the coect months (use the right-hand col where the rates are decompounded to monthly and formatted to %). Place the result in Col B. Add 4 cols C-F in which you compute the excess returns on the three stocks and Index over the TBill rates. . Create a sheet “Beta”. Repeatedly (3 times) use the regression function in Excel to compute betas for the three stocks. Regression can be found in Excel under Data -> Data Analysis; scroll to Regression. If it doesn’t appear, go to Office icon -> Excel options -> Add-ins, and add the Analysis Tool pack. Use a DESB computer if your home one lacks this function. In the regression window, Y-variable is the column ange of stock excess returns, the X-variable is always the column range of excess MKT Index returns. Beta will be the slope coefficient in the output range. (It will be labeled “XVariable” if you don’t include header row). In “ReturnData”, add a row labeled Beta at the bottom. Copy the tree betas. Add the market beta for Index (=? think a little:-). Compute the 10 betas for the portfolios by weighting the stock betas. 6.  a.  Create a sheet “SML”. Copy the 14 betas from Part-5b into a column. Copy the coesponding 14 return means from Part 3 into another column. Append a row in the table for TBill with its mean 0.01%=0.0001 and beta=0. Prepend a col of labels.  .  Create two new sheets. As in Part 1 and 2, create 10 rows of monthly price data for GE, AAPL and PG from Dec 2021 to Sep 2022 into a new sheet “NewPriceData”. Compute 9 ows of returns from Jan 2022 to Sep XXXXXXXXXXprices  9 returns) for the four securities (GE, AAPL, PG, Index) in “NewReturnData”. Add 10 columns for Portfolios 1-10 and compute their returns. As before, at the bottom of the “NewReturnData” compute the means and st. deviations for the four securities and the 10 portfolios.  c.  Overwrite the old means for the stocks, the MKT and the portfolios in the “SML” sheet with the new means. (We have the betas predicted by the XXXXXXXXXXdata, but the realized mean returns for XXXXXXXXXXAlso copy/overwrite the TBills 2022 mean with 0.40%=0.0040.  d.  Plot the (new) mean returns against (old) betas on a graph using “XY Scatter” with Y-axis as the mean and X-axis as beta. Label your stocks and portfolios. Use the Draw tool to trace the Security Market Line through TBill and MKT.   Format (%s, graph labels, table titles) the entire project in Excel and Word appropriately like for a business presentation. Bad formatting incurs a penalty up to 10%.  Must do To ensure your success, the project proceeds in two stages.  Stage 1: Complete parts 1–3, attempt to do parts 4–6 asap or by Week 2. You can upload the partial spreadsheet if you are unsure about anything, not required. Ask lots of questions about Stage 1 or Stage 2 during Week 2-3, to fix all eors. Then, Stage 2: Complete parts 4–6 by the deadline. Follow the instructions for submission.  Important: What to submit to receive credit Upon final completion (Stage 2) upload two files on Canvas:  1. Upload on Canvas your Excel book (not to exceed 350 KB) by Sunday 11:59pm on the due date. Your name must appear in cells A1 of the “PriceData” and the “NewPriceData”. Your file must be named using the LastFirst.xlsx convention: if you are Adam Smith, then the file name is SmithAdam.xlsx. Follow the file naming convention to receive credit.  2. Create in Word and upload on Canvas by Sunday 11:59pm on the due date a three page document. The three pages are: (1) A cover page with your name, (2) The table and graph from Part 4, (3) The table and graph from Part 6. Make sure your graphs and tables show well.  FRED Graph    FRED Graph Observations    Federal Reserve Economic Data    Link: https:fred.stlouisfed.org    Help: https:fredhelp.stlouisfed.org    Economic Research Division    Federal Reserve Bank of St. Louis    TB3MS    3-Month Treasury Bill Secondary Market Rate, Discount Basis, Percent, Monthly, Not Seasonally Adjusted    Frequency: Monthly    observation_date    TB3MS     XXXXXXXXXX    0.72     XXXXXXXXXX    0.62     XXXXXXXXXX    0.24     XXXXXXXXXX    0.15     XXXXXXXXXX    0.16     XXXXXXXXXX    0.15     XXXXXXXXXX    0.15     XXXXXXXXXX    0.19     XXXXXXXXXX    0.21     XXXXXXXXXX    0.27     XXXXXXXXXX    0.25     XXXXXXXXXX    0.23     XXXXXXXXXX    0.20     XXXXXXXXXX    0.19     XXXXXXXXXX    0.15     XXXXXXXXXX    0.15     XXXXXXXXXX    0.15     XXXXXXXXXX    0.15     XXXXXXXXXX    0.15     XXXXXXXXXX    0.16     XXXXXXXXXX    0.20     XXXXXXXXXX    0.20     XXXXXXXXXX    0.16     XXXXXXXXXX    0.15     XXXXXXXXXX    0.20     XXXXXXXXXX    0.20     XXXXXXXXXX    0.20     XXXXXXXXXX    0.20     XXXXXXXXXX    0.20     XXXXXXXXXX    0.20     XXXXXXXXXX    0.15     XXXXXXXXXX    0.20     XXXXXXXXXX    0.16     XXXXXXXXXX    0.13     XXXXXXXXXX    0.11     XXXXXXXXXX    0.12     XXXXXXXXXX    0.17     XXXXXXXXXX    0.15     XXXXXXXXXX    0.38     XXXXXXXXXX    0.56     XXXXXXXXXX    0.41     XXXXXXXXXX    0.36     XXXXXXXXXX    0.28     XXXXXXXXXX    0.29     XXXXXXXXXX    0.31     XXXXXXXXXX    0.20     XXXXXXXXXX    0.09     XXXXXXXXXX    0.11     XXXXXXXXXX    0.10     XXXXXXXXXX    0.08     XXXXXXXXXX    0.08     XXXXXXXXXX    0.09     XXXXXXXXXX    0.05     XXXXXXXXXX    0.05     XXXXXXXXXX    0.07     XXXXXXXXXX    0.06     XXXXXXXXXX    0.08     XXXXXXXXXX    0.05     XXXXXXXXXX    0.04     XXXXXXXXXX    0.03     XXXXXXXXXX    0.03     XXXXXXXXXX    0.03     XXXXXXXXXX    0.03     XXXXXXXXXX    0.03     XXXXXXXXXX    0.03     XXXXXXXXXX    0.03     XXXXXXXXXX    0.04     XXXXXXXXXX    0.05     XXXXXXXXXX    0.14     XXXXXXXXXX    0.05     XXXXXXXXXX    0.05     XXXXXXXXXX    0.04     XXXXXXXXXX    0.01     XXXXXXXXXX    0.02     XXXXXXXXXX    0.02     XXXXXXXXXX    0.02     XXXXXXXXXX    0.06     XXXXXXXXXX    0.10     XXXXXXXXXX    0.05     XXXXXXXXXX    0.04     XXXXXXXXXX    0.05     XXXXXXXXXX    0.02     XXXXXXXXXX    0.02     XXXXXXXXXX    0.02     XXXXXXXXXX    0.02     XXXXXXXXXX    0.04     XXXXXXXXXX    0.11     XXXXXXXXXX    0.10     XXXXXXXXXX    0.11     XXXXXXXXXX    0.12     XXXXXXXXXX    0.12     XXXXXXXXXX    0.13     XXXXXXXXXX    0.10     XXXXXXXXXX    0.09     XXXXXXXXXX    0.28     XXXXXXXXXX    0.33     XXXXXXXXXX    0.27     XXXXXXXXXX    0.25     XXXXXXXXXX    0.25     XXXXXXXXXX    0.32     XXXXXXXXXX    0.37     XXXXXXXXXX    0.37     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.38     XXXXXXXXXX    0.66     XXXXXXXXXX    0.75     XXXXXXXXXX    0.80     XXXXXXXXXX    0.85     XXXXXXXXXX    0.92     XXXXXXXXXX    0.95     XXXXXXXXXX    0.97     XXXXXXXXXX    1.00     XXXXXXXXXX    1.00     XXXXXXXXXX    1.00     XXXXXXXXXX    1.00     XXXXXXXXXX    1.00     XXXXXXXXXX    1.00     XXXXXXXXXX    1.06     XXXXXXXXXX    1.09     XXXXXXXXXX    1.12     XXXXXXXXXX    1.14     XXXXXXXXXX    1.16     XXXXXXXXXX    1.17     XXXXXXXXXX    1.17     XXXXXXXXXX    1.17     XXXXXXXXXX    1.17     XXXXXXXXXX    1.17     XXXXXXXXXX    1.17     XXXXXXXXXX    1.02     XXXXXXXXXX    1.04     XXXXXXXXXX    1.07     XXXXXXXXXX    1.05     XXXXXXXXXX    1.08     XXXXXXXXXX    1.10     XXXXXXXXXX    1.07     XXXXXXXXXX    1.12     XXXXXXXXXX    1.12     XXXXXXXXXX    1.15     XXXXXXXXXX    1.16     XXXXXXXXXX    1.15     XXXXXXXXXX    1.16     XXXXXXXXXX    1.20     XXXXXXXXXX    1.30     XXXXXXXXXX    1.31     XXXXXXXXXX    1.36     XXXXXXXXXX    1.34     XXXXXXXXXX    1.34     XXXXXXXXXX    1.36     XXXXXXXXXX    1.40     XXXXXXXXXX    1.47     XXXXXXXXXX    1.55     XXXXXXXXXX    1.45     XXXXXXXXXX    1.56     XXXXXXXXXX    1.62     XXXXXXXXXX    1.63     XXXXXXXXXX    1.54     XXXXXXXXXX    1.56     XXXXXXXXXX    1.73     XXXXXXXXXX    1.57     XXXXXXXXXX    1.54     XXXXXXXXXX    1.59     XXXXXXXXXX    1.57     XXXXXXXXXX    1.67     XXXXXXXXXX    1.70     XXXXXXXXXX    1.81     XXXXXXXXXX    1.83     XXXXXXXXXX    1.71     XXXXXXXXXX    1.74     XXXXXXXXXX    1.85     XXXXXXXXXX    2.09     XXXXXXXXXX    1.96     XXXXXXXXXX    1.97     XXXXXXXXXX    2.01     XXXXXXXXXX    2.19     XXXXXXXXXX    2.16     XXXXXXXXXX    2.11     XXXXXXXXXX    2.04     XXXXXXXXXX    2.04     XXXXXXXXXX    1.79     XXXXXXXXXX    1.38     XXXXXXXXXX    1.44     XXXXXXXXXX    1.60     XXXXXXXXXX    1.18     XXXXXXXXXX    0.97     XXXXXXXXXX    1.03     XXXXXXXXXX    0.97     XXXXXXXXXX    0.76     XXXXXXXXXX    0.64     XXXXXXXXXX    0.72     XXXXXXXXXX    0.92     XXXXXXXXXX    1.01     XXXXXXXXXX    0.98     XXXXXXXXXX    0.93     XXXXXXXXXX    1.15     XXXXXXXXXX    1.22     XXXXXXXXXX    1.17     XXXXXXXXXX    1.28     XXXXXXXXXX    1.59     XXXXXXXXXX    1.45     XXXXXXXXXX    1.41     XXXXXXXXXX    1.60     XXXXXXXXXX    1.90     XXXXXXXXXX    2.07     XXXXXXXXXX    2.23     XXXXXXXXXX    2.24     XXXXXXXXXX    2.54     XXXXXXXXXX    2.41     XXXXXXXXXX    2.32     XXXXXXXXXX    2.25     XXXXXXXXXX    2.60     XXXXXXXXXX    2.61     XXXXXXXXXX    2.49     XXXXXXXXXX    2.31     XXXXXXXXXX    2.60     XXXXXXXXXX    2.84     XXXXXXXXXX    2.90     XXXXXXXXXX    2.99     XXXXXXXXXX    3.21     XXXXXXXXXX    3.11     XXXXXXXXXX    3.10     XXXXXXXXXX    3.08     XXXXXXXXXX    3.07     XXXXXXXXXX    3.06     XXXXXXXXXX    3.29     XXXXXXXXXX    3.16     XXXXXXXXXX    3.37     XXXXXXXXXX    3.53     XXXXXXXXXX    3.58     XXXXXXXXXX    3.31     XXXXXXXXXX    3.04     XXXXXXXXXX    2.44     XXXXXXXXXX    1.53     XXXXXXXXXX    1.30     XXXXXXXXXX    1.13     XXXXXXXXXX    0.91     XXXXXXXXXX    0.83     XXXXXXXXXX    0.91     XXXXXXXXXX    1.69     XXXXXXXXXX    2.44     XXXXXXXXXX    2.63     XXXXXXXXXX    2.67     XXXXXXXXXX    2.77     XXXXXXXXXX    2.82     XXXXXXXXXX    2.70     XXXXXXXXXX    2.80     XXXXXXXXXX    2.95     XXXXXXXXXX    2.84     XXXXXXXXXX    3.21     XXXXXXXXXX    3.20     XXXXXXXXXX    3.38     XXXXXXXXXX    4.04     XXXXXXXXXX    4.05     XXXXXXXXXX    4.15     XXXXXXXXXX    4.49     XXXXXXXXXX    4.35     XXXXXXXXXX    3.96     XXXXXXXXXX    3.31     XXXXXXXXXX    3.23     XXXXXXXXXX    3.29     XXXXXXXXXX    2.46     XXXXXXXXXX    2.30     XXXXXXXXXX    2.30     XXXXXXXXXX    2.48     XXXXXXXXXX    2.30     XXXXXXXXXX    2.37     XXXXXXXXXX    2.25     XXXXXXXXXX    2.24     XXXXXXXXXX    2.42     XXXXXXXXXX    2.39     XXXXXXXXXX    2.29     XXXXXXXXXX    2.29     XXXXXXXXXX    2.33     XXXXXXXXXX    2.24     XXXXXXXXXX    2.39     XXXXXXXXXX    2.28     XXXXXXXXXX    2.30     XXXXXXXXXX    2.48     XXXXXXXXXX    2.60     XXXXXXXXXX    2.72     XXXXXXXXXX    2.73     XXXXXXXXXX    2.72     XXXXXXXXXX    2.73     XXXXXXXXXX    2.69     XXXXXXXXXX    2.73     XXXXXXXXXX    2.92     XXXXXXXXXX    2.82     XXXXXXXXXX    2.78     XXXXXXXXXX    2.74     XXXXXXXXXX    2.83     XXXXXXXXXX    2.87     XXXXXXXXXX    2.91     XXXXXXXXXX    2.92     XXXXXXXXXX    2.89     XXXXXXXXXX    2.90     XXXXXXXXXX    2.93     XXXXXXXXXX    2.99     XXXXXXXXXX    3.18     XXXXXXXXXX    3.32     XXXXXXXXXX    3.38     XXXXXXXXXX    3.45     XXXXXXXXXX    3.52     XXXXXXXXXX    3.52     XXXXXXXXXX    3.52     XXXXXXXXXX    3.53     XXXXXXXXXX    3.54     XXXXXXXXXX    3.47     XXXXXXXXXX    3.48     XXXXXXXXXX    3.48     XXXXXXXXXX    3.46     XXXXXXXXXX    3.50     XXXXXXXXXX    3.53     XXXXXXXXXX    3.57     XXXXXXXXXX    3.64     XXXXXXXXXX    3.84     XXXXXXXXXX    3.81     XXXXXXXXXX    3.93     XXXXXXXXXX    3.93     XXXXXXXXXX    3.93     XXXXXXXXXX    3.89     XXXXXXXXXX    3.80     XXXXXXXXXX    3.84     XXXXXXXXXX    3.84     XXXXXXXXXX    3.92     XXXXXXXXXX    4.03     XXXXXXXXXX    4.09     XXXXXXXXXX    4.38     XXXXXXXXXX    4.59     XXXXXXXXXX    4.65     XXXXXXXXXX    4.59     XXXXXXXXXX    4.62     XXXXXXXXXX    4.64     XXXXXXXXXX    4.50     XXXXXXXXXX    4.80     XXXXXXXXXX    4.96     XXXXXXXXXX    5.37     XXXXXXXXXX    5.35     XXXXXXXXXX    5.32     XXXXXXXXXX    4.96     XXXXXXXXXX    4.72     XXXXXXXXXX    4.56     XXXXXXXXXX    4.26     XXXXXXXXXX    3.84     XXXXXXXXXX    3.60     XXXXXXXXXX    3

Mayuri · Accepted Answer

PriceData
	DATE	GEPrice	GEDiv	GEFact	AAPLPrice	AAPLDiv	AAPLFact	PGPrice	PGDiv	PGFact
	12/31/13	28.0300006866	0.2199999988	0.125	561.0200195313		28	81.4100036621		1
	1/31/14	25.1299991608		0.125	500.6000061035		28	76.6200027466	0.6014999747	1
	2/28/14	25.4699993134	0.2199999988	0.125	526.2399902344	3.0499999523	28	78.6600036621		1
	3/31/14	25.8899993896		0.125	536.7399902344		28	80.5999984741		1
	4/30/14	26.8899993896		0.125	590.0900268555		28	82.5500030518	0.643599987	1
	5/30/14	26.7900009155		0.125	633	3.2899999619	28	80.7900009155		1
	6/30/14	26.2800006866	0.2199999988	0.125	92.9300003052	0	4	78.5899963379		1
	7/31/14	25.1499996185		0.125	95.5999984741		4	77.3199996948	0.643599987	1
	8/29/14	25.9799995422		0.125	102.5	0.4699999988	4	83.1100006104		1
	9/30/14	25.6200008392	0.2199999988	0.125	100.75		4	83.7399978638		1
	10/31/14	25.8099994659		0.125	108		4	87.2699966431	0.643599987	1
	11/28/14	26.4899997711		0.125	118.9300003052	0.4699999988	4	90.4300003052		1
	12/31/14	25.2700004578	0.2300000042	0.125	110.3799972534		4	91.0899963379		1
	1/30/15	23.8899993896		0.125	117.1600036621		4	84.2900009155	0.643599987	1
	2/27/15	25.9899997711	0.2300000042	0.125	128.4600067139	0.4699999988	4	85.1299972534		1
	3/31/15	24.8099994659		0.125	124.4300003052		4	81.9400024414		1
	4/30/15	27.0799999237		0.125	125.1500015259		4	79.5100021362	0.662899971	1
	5/29/15	27.2700004578		0.125	130.2799987793	0.5199999809	4	78.3899993896		1
	6/30/15	26.5699996948	0.2300000042	0.125	125.4250030518		4	78.2399978638		1
	7/31/15	26.1000003815		0.125	121.3000030518		4	76.6999969482	0.662899971	1
	8/31/15	24.8199996948		0.125	112.7600021362	0.5199999809	4	70.6699981689		1
	9/30/15	25.2199993134	0.2300000042	0.125	110.3000030518		4	71.9400024414		1
	10/30/15	28.9200000763		0.125	119.5		4	76.3799972534	0.662899971	1
	11/30/15	29.9400005341		0.125	118.3000030518	0.5199999809	4	74.8399963379		1
	12/31/15	31.1499996185	0.2300000042	0.125	105.2600021362		4	79.4100036621		1
	1/29/16	29.1000003815		0.125	97.3399963379		4	81.6900024414	0.662899971	1
	2/29/16	29.1399993896	0.2300000042	0.125	96.6900024414	0.5199999809	4	80.2900009155		1
	3/31/16	31.7900009155		0.125	108.9899978638		4	82.3099975586		1
	4/29/16	30.75		0.125	93.7399978638		4	80.1200027466	0.6694999933	1
	5/31/16	30.2299995422		0.125	99.8600006104	0.5699999928	4	81.0400009155		1
	6/30/16	31.4799995422	0.2300000042	0.125	95.5999984741		4	84.6699981689		1
	7/29/16	31.1399993896		0.125	104.2099990845		4	85.5899963379	0.6694999933	1
	8/31/16	31.2399997711		0.125	106.0999984741	0.5699999928	4	87.3099975586		1
	9/30/16	29.6200008392	0.2300000042	0.125	113.0500030518		4	89.75		1
	10/31/16	29.1000003815		0.125	113.5400009155		4	86.8000030518	0.6694999933	1
	11/30/16	30.7600002289		0.125	110.5199966431	0.5699999928	4	82.4599990845		1
	12/30/16	31.6000003815	0.2399999946	0.125	115.8199996948		4	84.0800018311		1
	1/31/17	29.7000007629		0.125	121.3499984741		4	87.5999984741	0.6694999933	1
	2/28/17	29.8099994659	0.2399999946	0.125	136.9900054932	0.5699999928	4	91.0699996948		1
	3/31/17	29.7999992371		0.125	143.6600036621		4	89.8499984741		1
	4/28/17	28.9899997711		0.125	143.6499938965		4	87.3300018311	0.6895999908	1
	5/31/17	27.3799991608		0.125	152.7599945068	0.6299999952	4	88.0899963379		1
	6/30/17	27.0100002289	0.2399999946	0.125	144.0200042725		4	87.1500015259		1
	7/31/17	25.6100006104		0.125	148.7299957275		4	90.8199996948	0.6895999908	1
	8/31/17	24.5499992371		0.125	164	0.6299999952	4	92.2699966431		1
	9/29/17	24.1800003052	0.2399999946	0.125	154.1199951172		4	90.9800033569		1
	10/31/17	20.1599998474		0.125	169.0399932861		4	86.3399963379	0.6895999908	1
	11/30/17	18.2900009155		0.125	171.8500061035	0.6299999952	4	89.9899978638		1
	12/29/17	17.4500007629	0.1199999973	0.125	169.2299957275		4	91.8799972534		1
	1/31/18	16.1700000763		0.125	167.4299926758		4	86.3399963379	0.6895999908	1
	2/28/18	14.1099996567	0.1199999973	0.125	178.1199951172	0.6299999952	4	78.5199966431		1
	3/29/18	13.4799995422		0.125	167.7799987793		4	79.2799987793		1
	4/30/18	14.0699996948		0.125	165.2599945068		4	72.3399963379	0.7171999812	1
	5/31/18	14.0799999237		0.125	186.8699951172	0.7300000191	4	73.1699981689		1
	6/29/18	13.6099996567	0.1199999973	0.125	185.1100006104		4	78.0599975586		1
	7/31/18	13.6300001144		0.125	190.2899932861		4	80.8799972534	0.7171999812	1
	8/31/18	12.9399995804		0.125	227.6300048828	0.7300000191	4	82.9499969482		1
	9/28/18	11.2899999619	0.1199999973	0.125	225.7400054932		4	83.2300033569		1
	10/31/18	10.1000003815		0.125	218.8600006104		4	88.6800003052	0.7171999812	1
	11/30/18	7.5		0.125	178.5800018311	0.7300000191	4	94.5100021362		1
	12/31/18	7.5700001717	0.0099999998	0.125	157.7400054932		4	91.9199981689		1
	1/31/19	10.1599998474		0.125	166.4400024414		4	96.4700012207	0.7171999812	1
	2/28/19	10.3900003433	0.3972391486	0.125	173.1499938965	0.7300000191	4	98.5500030518		1
	3/29/19	9.9899997711	0.0099999998	0.125	189.9499969482		4	104.0500030518		1
	4/30/19	10.1700000763		0.125	200.6699981689		4	106.4800033569	0.7458999753	1
	5/31/19	9.4399995804		0.125	175.0700073242	0.7699999809	4	102.9100036621		1
	6/28/19	10.5	0.0099999998	0.125	197.9199981689		4	109.6500015259		1
	7/31/19	10.4499998093		0.125	213.0399932861		4	118.0400009155	0.7458999753	1
	8/30/19	8.25		0.125	208.7400054932	0.7699999809	4	120.2300033569		1
	9/30/19	8.9399995804	0.0099999998	0.125	223.9700012207		4	124.3799972534		1
	10/31/19	9.9799995422		0.125	248.7599945068		4	124.5100021362	0.7458999753	1
	11/29/19	11.2700004578		0.125	267.25	0.7699999809	4	122.0599975586		1
	12/31/19	11.1599998474	0.0099999998	0.125	293.6499938965		4	124.9000015259		1
	1/31/20	12.4499998093		0.125	309.5100097656		4	124.6200027466	0.7458999753	1
	2/28/20	10.8800001144		0.125	273.3599853516	0.7699999809	4	113.2300033569		1
	3/31/20	7.9400000572	0.0099999998	0.125	254.2899932861		4	110		1
	4/30/20	6.8000001907		0.125	293.799987793		4	117.8700027466	0.7907000184	1
	5/29/20	6.5700001717		0.125	317.9400024414	0.8199999928	4	115.9199981689		1
	6/30/20	6.8299999237	0.0099999998	0.125	364.799987793		4	119.5699996948		1
	7/31/20	6.0700001717		0.125	425.0400085449		4	131.1199951172	0.7907000184	1
	8/31/20	6.3400001526		0.125	129.0399932861	0.8199999928	1	138.3300018311		1
	9/30/20	6.2300000191	0.0099999998	0.125	115.8099975586		1	138.9900054932		1
	10/30/20	7.4200000763		0.125	108.8600006104		1	137.1000061035	0.7907000184	1
	11/30/20	10.1800003052		0.125	119.0500030518	0.2049999982	1	138.8699951172		1
	12/31/20	10.8000001907	0.0099999998	0.125	132.6900024414		1	139.1399993896		1
	1/29/21	10.6800003052		0.125	131.9600067139		1	128.2100067139	0.7907000184	1
	2/26/21	12.5399999619		0.125	121.2600021362	0.2049999982	1	123.5299987793		1
	3/31/21	13.1300001144	0.0099999998	0.125	122.1500015259		1	135.4299926758		1
	4/30/21	13.1199998856		0.125	131.4600067139		1	133.4199981689	0.8697999716	1
	5/28/21	14.0600004196		0.125	124.6100006104	0.2199999988	1	134.8500061035		1
	6/30/21	13.4600000381	0.0099999998	0.125	136.9600067139		1	134.9299926758		1
	7/30/21	12.9499998093		0.125	145.8600006104		1	142.2299957275	0.8697999716	1
	8/31/21	105.4100036621	0	1	151.8300018311	0.2199999988	1	142.3899993896		1
	9/30/21	103.0299987793	0.0799999982	1	141.5		1	139.8000030518		1
	10/29/21	104.8700027466		1	149.8000030518		1	142.9900054932	0.8697999716	1
	11/30/21	94.9899978638		1	165.3000030518	0.2199999988	1	144.5800018311		1
	12/31/21	94.4700012207	0.0799999982	1	177.5700073242		1	163.5800018311		1
ReturnData
	DATE 	GE	AAPL	PG	MKT Index.
	1/31/14	-0.1092130715	-0.1139491991	-0.0528202097	-3.00%
	2/28/14	0.0220394662	0.0557290761	0.0262766384	4.62%
	3/31/14	0.0163555082	0.0197564239	0.024363817	0.45%
	4/30/14	0.0378976774	0.0947613254	0.0316718277	0.16%
	5/30/14	-0.0037257299	0.075379321	-0.0215510005	2.03%
	6/30/14	-0.0108839589	0.0272862518	-0.0276087885	2.80%
	7/31/14	-0.0439503384	0.0283262792	-0.0080023713	-2.06%
	8/29/14	0.0324691122	0.0742648796	0.0722123885	4.02%
	9/30/14	-0.0054032823	-0.0172205978	0.0075516962	-2.52%
	10/31/14	0.0073886638	0.0694890263	0.0486377406	2.12%
	11/28/14	0.0260053016	0.1003479764	0.0355693514	2.11%
	12/31/14	-0.0380888244	-0.0746061542	0.0072719144	-0.37%
	1/30/15	-0.0561580037	0.0596116201	-0.0699782032	-2.72%
	2/27/15	0.093062534	0.0957291203	0.0099162228	5.60%
	3/31/15	-0.0464650637	-0.0318743129	-0.0381921657	-1.04%
	4/30/15	0.087548669	0.0057697188	-0.0218017231	0.88%
	5/29/15	0.0069917684	0.0441563995	-0.0141864664	1.03%
	6/30/15	-0.0173853374	-0.0379779763	-0.001915362	-1.92%
	7/31/15	-0.0178474193	-0.0334411536	-0.0112737007	1.21%
	8/31/15	-0.0502855615	-0.0684041925	-0.0818805398	-6.00%
	9/30/15	0.0250659487	-0.0220577313	0.0178113434	-3.38%
	10/30/15	0.1368960966	0.0801124174	0.0685299013	7.40%
	11/30/15	0.0346619969	-0.0057066029	-0.0203683934	0.24%
	12/31/15	0.0469753385	-0.1167902966	0.0592718986	-2.22%
	1/29/16	-0.0680760457	-0.0782235334	0.0363893498	-5.71%
	2/29/16	0.0092355373	-0.001336355	-0.0172865336	0.06%
	3/31/16	0.0870400239	0.1197461056	0.0248474857	7.06%
	4/29/16	-0.0332618095	-0.1507311456	-0.0186455368	1.17%
	5/31/16	-0.0170552006	0.0689360037	0.0114173262	1.44%
	6/30/16	0.0477972806	-0.0435964071	0.0438184548	0.29%
	7/29/16	-0.0108592622	0.0862352811	0.0185988262	3.88%
	8/31/16	0.0032061708	0.023331857	0.0198965648	0.28%
	9/30/16	-0.0455144496	0.0634481945	0.0275630515	0.30%
	10/31/16	-0.0177116499	0.0043249801	-0.0257378314	-2.16%
	11/30/16	0.0554769648	-0.0218145525	-0.0512933406	4.05%
	12/30/16	0.0345082207	0.0468407895	0.0194554322	1.88%
	1/31/17	-0.0620100612	0.0466416604	0.0486258689	2.22%
	2/28/17	0.0117155715	0.1253813058	0.0388474577	3.26%
	3/31/17	-0.0003355219	0.0475414516	-0.013486842	0.21%
	4/28/17	-0.0275574329	-0.0000696792	-0.0205820586	0.97%
	5/31/17	-0.0571381458	0.065603919	0.0086649102	0.93%
	6/30/17	-0.0047592599	-0.0589158179	-0.0107281881	0.96%
	7/31/17	-0.0532242522	0.0321803444	0.0488130919	2.03%
	8/31/17	-0.0422711009	0.1015679788	0.0158395029	0.16%
	9/29/17	-0.0053093422	-0.0621349397	-0.0140792862	2.38%
	10/31/17	-0.1818254222	0.0924038455	-0.0443914905	1.93%
	11/30/17	-0.0973459232	0.0201459895	0.0414055816	2.73%
	12/29/17	-0.040161567	-0.0153633276	0.0207848186	1.21%
	1/31/18	-0.0761820141	-0.0106934015	-0.0542350994	5.06%
	2/28/18	-0.1278052905	0.0654228445	-0.0949396211	-3.95%
	3/29/18	-0.04567667	-0.0598038629	0.009632548	-1.84%
	4/30/18	0.0428377779	-0.0151336321	-0.081743229	0.47%
	5/31/18	0.0007104959	0.1267920526	0.0114083	2.62%
	6/29/18	-0.0251721507	-0.0094629155	0.0646922546	0.54%
	7/31/18	0.0014684627	0.0275989428	0.0443171833	3.16%
	8/31/18	-0.0519499975	0.1823741635	0.0252714391	3.02%
	9/28/18	-0.1258330963	-0.0083376063	0.0033699202	0.04%
	10/31/18	-0.1113819132	-0.0309516601	0.0714814649	-7.40%
	11/30/18	-0.2976324411	-0.199316097	0.0636712834	1.85%
	12/31/18	0.0106102017	-0.1240885475	-0.027787058	-8.99%
	1/31/19	0.294265337	0.053686756	0.0557204143	8.83%
	2/28/19	0.0599054799	0.0437304723	0.0213319727	3.27%
	3/29/19	-0.0382587681	0.092602628	0.0543075176	1.30%
	4/30/19	0.0178576478	0.0549008951	0.0300662728	3.79%
	5/31/19	-0.0744862819	-0.1320872265	-0.0341023502	-6.17%
	6/28/19	0.1073712492	0.1226769636	0.0634386333	6.73%
	7/31/19	-0.004773297	0.0736170106	0.0800292317	1.19%
	8/30/19	-0.2363887598	-0.0167084129	0.0183830451	-2.03%
	9/30/19	0.081440285	0.0704226351	0.0339347707	1.60%
	10/31/19	0.1100475022	0.1049764344	0.0070174879	1.93%
	11/29/19	0.1215613242	0.0745730504	-0.019873344	3.50%
	12/31/19	-0.0089127693	0.0942040113	0.0230007222	2.85%
	1/31/20	0.1093846643	0.0526018721	0.0037232538	-0.17%
	2/28/20	-0.1347943556	-0.1213880404	-0.0958479512	-7.79%
	3/31/20	-0.3137543161	-0.0723142326	-0.0289408122	-14.17%
	4/30/20	-0.1549906422	0.1444239006	0.0757878175	12.97%
	5/29/20	-0.0344087816	0.081539254	-0.0166820633	5.37%
	6/30/20	0.0402738618	0.1374865313	0.0310016892	2.53%
	7/31/20	-0.1179660291	0.1528340775	0.0982231702	5.55%
	8/31/20	0.0435201592	0.2005679542	0.0535292509	6.84%
	9/30/20	-0.0158986071	-0.1081714857	0.0047598795	-3.51%
	10/30/20	0.1748027316	-0.0618882375	-0.0079406409	-2.02%
	11/30/20	0.3162459736	0.0912014246	0.0128275775	12.37%
	12/31/20	0.0600466082	0.1084720004	0.0019424076	4.50%
	1/29/21	-0.0111732897	-0.0055167017	-0.0756627332	-0.06%
	2/26/21	0.1605506701	-0.0828727242	-0.0371855653	2.92%
	3/31/21	0.0467374896	0.0073127919	0.0919708159	3.06%
	4/30/21	-0.0007619222	0.0734528637	-0.0084547102	4.82%
	5/28/21	0.0691961414	-0.0517498574	0.0106610613	0.71%
	6/30/21	-0.042868923	0.0945000966	0.0005929763	2.34%
	7/30/21	-0.0386265536	0.0629583003	0.0587861877	1.18%
	8/31/21	0.0173202279	0.0415621644	0.001124332	2.71%
	9/30/21	-0.0220611753	-0.0704617689	-0.0183569159	-4.22%
	10/29/21	0.0177013179	0.0570013744	0.0286264006	6.47%
	11/30/21	-0.0989499136	0.0997909604	0.0110582641	-1.84%
	12/31/21	-0.0046427924	0.0716029153	0.1234691783	3.33%
P G
	DATE 	PG	(Rt -Ravg) ^2
	1/31/14	-0.0528202097	0.0039145737
	2/28/14	0.0262766384	0.0002732506
	3/31/14	0.024363817	0.0002136705
	4/30/14	0.0316718277	0.0004807268
	5/30/14	-0.0215510005	0.0009795238
	6/30/14	-0.0276087885	0.001395406
	7/31/14	-0.0080023713	0.0003150169
	8/29/14	0.0722123885	0.0039020067
	9/30/14	0.0075516962	0.0000048165
	10/31/14	0.0486377406	0.0015125407
	11/28/14	0.0355693514	0.0006668277
	12/31/14	0.0072719144	0.0000061228
	1/30/15	-0.0699782032	0.0063560035
	2/27/15	0.0099162228	0.0000000289
	3/31/15	-0.0381921657	0.0022981008
	4/30/15	-0.0218017231	0.0009952806
	5/29/15	-0.0141864664	0.0005727794
	6/30/15	-0.001915362	0.0001359954
	7/31/15	-0.0112737007	0.0004418423
	8/31/15	-0.0818805398	0.0083954859
	9/30/15	0.0178113434	0.0000650442
	10/30/15	0.0685299013	0.0034555066
	11/30/15	-0.0203683934	0.0009068974
	12/31/15	0.0592718986	0.0024527805
	1/29/16	0.0363893498	0.0007098497
	2/29/16	-0.0172865336	0.0007307765
	3/31/16	0.0248474857	0.0002280445
	4/29/16	-0.0186455368	0.0008060989
	5/31/16	0.0114173262	0.0000027922
	6/30/16	0.0438184548	0.0011609087
	7/29/16	0.0185988262	0.0000783664
	8/31/16	0.0198965648	0.000103027
	9/30/16	0.0275630515	0.0003174351
	10/31/16	-0.0257378314	0.0012591267
	11/30/16	-0.0512933406	0.0037258431
	12/30/16	0.0194554322	0.0000942664
	1/31/17	0.0486258689	0.0015116174
	2/28/17	0.0388474577	0.0008468748
	3/31/17	-0.013486842	0.0005397809
	4/28/17	-0.0205820586	0.000919812
	5/31/17	0.0086649102	0.0000011695
	6/30/17	-0.0107281881	0.0004192065
	7/31/17	0.0488130919	0.0015262108
	8/31/17	0.0158395029	0.0000371266
	9/29/17	-0.0140792862	0.0005676607
	10/31/17	-0.0443914905	0.0029309052
	11/30/17	0.0414055816	0.0010023073
	12/29/17	0.0207848186	0.0001218479
	1/31/18	-0.0542350994	0.0040936252
	2/28/18	-0.0949396211	0.0109591514
	3/29/18	0.009632548	0.0000000129
	4/30/18	-0.081743229	0.008370342
	5/31/18	0.0114083	0.0000027621
	6/29/18	0.0646922546	0.003019053
	7/31/18	0.0443171833	0.0011951429
	8/31/18	0.0252714391	0.0002410286
	9/28/18	0.0033699202	0.0000406588
	10/31/18	0.0714814649	0.0038112251
	11/30/18	0.0636712834	0.002907899
	12/31/18	-0.027787058	0.0014087563
	1/31/19	0.0557204143	0.0021136151
	2/28/19	0.0213319727	0.0001342268
	3/29/19	0.0543075176	0.0019856982
	4/30/19	0.0300662728	0.0004128995
	5/31/19	-0.0341023502	0.001922708
	6/28/19	0.0634386333	0.0028828619
	7/31/19	0.0800292317	0.0049396843
	8/30/19	0.0183830451	0.0000745926
	9/30/19	0.0339347707	0.00058508
	10/31/19	0.0070174879	0.0000074467
	11/29/19	-0.019873344	0.0008773259
	12/31/19	0.0230007222	0.0001756785
	1/31/20	0.0037232538	0.0000362776
	2/28/20	-0.0958479512	0.0111501553
	3/31/20	-0.0289408122	0.0014966961
	4/30/20	0.0757878175	0.0043614762
	5/29/20	-0.0166820633	0.0006984607
	6/30/20	0.0310016892	0.0004517897
	7/31/20	0.0982231702	0.0078281487
	8/31/20	0.0535292509	0.0019169429
	9/30/20	0.0047598795	0.0000248648
	10/30/20	-0.0079406409	0.0003128294
	11/30/20	0.0128275775	0.000009494
	12/31/20	0.0019424076	0.0000609014
	1/29/21	-0.0756627332	0.0072947105
	2/26/21	-0.0371855653	0.0022026041
	3/31/21	0.0919708159	0.0067608637
	4/30/21	-0.0084547102	0.0003312784
	5/28/21	0.0106610613	0.0000008367
	6/30/21	0.0005929763	0.0000837841
	7/30/21	0.0587861877	0.0024049062
	8/31/21	0.001124332	0.0000743391
	9/30/21	-0.0183569159	0.0007897932
	10/29/21	0.0286264006	0.0003564565
	11/30/21	0.0110582641	0.0000017211
	12/31/21	0.1234691783	0.0129328829
	SUM	0.9356490616	0.1731249713	AVERAGE(FORMULA)	0.0097463444
	AVERAGE	0.0097463444	0.0018223681
	ST. DEV		0.0426892038	ST DEV (FORMULA)	0.0426892038
PortfolioReturns
	DATE 	GE	AAPL	PG	Portfolio 1			Portfolio 2			Portfolio 3			Portfolio 4			Portfolio 5			Portfolio 6			Portfolio 7			Portfolio 8			Portfolio 9			Portfolio 10			Index
					30%	20%	50%	40%	40%	20%	10%	40%	50%	33%	33%	33%	50%	25%	25%	25%	50%	25%	25%	25%	50%	10%	20%	70%	20%	10%	70%	70%	20%	10%
	1/31/14	-10.35%	-10.77%	-5.88%	-0.031038189	-0.0215393431	-0.0294189946	-0.0413842519	-0.0430786862	-0.0117675978	-0.010346063	-0.0430786862	-0.0294189946	-0.0344868766	-0.0358989052	-0.0196126631	-0.0517303149	-0.0269241789	-0.0147094973	-0.0258651575	-0.0538483577	-0.0147094973	-0.0258651575	-0.0269241789	-0.0294189946	-0.010346063	-0.0215393431	-0.0411865924	-0.020692126	-0.0107696715	-0.0411865924	-0.0724224409	-0.0215393431	-0.0058837989	-3.00%
	2/28/14	1.35%	5.12%	2.66%	0.0040588957	0.0102437011	0.0133124566	0.0054118609	0.0204874022	0.0053249826	0.0013529652	0.0204874022	0.0133124566	0.0045098841	0.0170728351	0.008874971	0.0067648262	0.0128046264	0.0066562283	0.0033824131	0.0256092527	0.0066562283	0.0033824131	0.0128046264	0.0133124566	0.0013529652	0.0102437011	0.0186374392	0.0027059305	0.0051218505	0.0186374392	0.0094707567	0.0102437011	0.0026624913	4.62%
	3/31/14	1.65%	2.00%	2.47%	0.0049469975	0.0039905747	0.01233152	0.0065959967	0.0079811494	0.004932608	0.0016489992	0.0079811494	0.01233152	0.0054966639	0.0066509579	0.0082210133	0.0082449958	0.0049882184	0.00616576	0.0041224979	0.0099764368	0.00616576	0.0041224979	0.0049882184	0.01233152	0.0016489992	0.0039905747	0.017264128	0.0032979983	0.0019952874	0.017264128	0.0115429942	0.0039905747	0.002466304	0.45%
	4/30/14	3.86%	9.94%	2.42%	0.0115874858	0.0198792852	0.0120968028	0.0154499811	0.0397585703	0.0048387211	0.0038624953	0.0397585703	0.0120968028	0.0128749842	0.0331321419	0.0080645352	0.0193124763	0.0248491065	0.0060484014	0.0096562382	0.0496982129	0.0060484014	0.0096562382	0.0248491065	0.0120968028	0.0038624953	0.0198792852	0.0169355239	0.0077249905	0.0099396426	0.0169355239	0.0270374668	0.0198792852	0.0024193606	0.16%
	5/30/14	-0.37%	7.27%	-2.13%	-0.0011156394	0.0145435344	-0.0106602185	-0.0014875192	0.0290870689	-0.0042640874	-0.0003718798	0.0290870689	-0.0106602185	-0.0012395993	0.0242392241	-0.0071068123	-0.001859399	0.0181794181	-0.0053301092	-0.0009296995	0.0363588361	-0.0053301092	-0.0009296995	0.0181794181	-0.0106602185	-0.0003718798	0.0145435344	-0.0149243059	-0.0007437596	0.0072717672	-0.0149243059	-0.0026031586	0.0145435344	-0.0021320437	2.03%
	6/30/14	-1.90%	-85.32%	-2.72%	-0.0057110886	-0.1706382306	-0.0136155747	-0.0076147848	-0.3412764611	-0.0054462299	-0.0019036962	-0.3412764611	-0.0136155747	-0.006345654	-0.2843970509	-0.0090770498	-0.009518481	-0.2132977882	-0.0068077873	-0.0047592405	-0.4265955764	-0.0068077873	-0.0047592405	-0.2132977882	-0.0136155747	-0.0019036962	-0.1706382306	-0.0190618045	-0.0038073924	-0.0853191153	-0.0190618045	-0.0133258734	-0.1706382306	-0.0027231149	2.80%
	7/31/14	-4.30%	2.87%	-1.62%	-0.0128995552	0.0057462567	-0.0080798874	-0.017199407	0.0114925133	-0.003231955	-0.0042998517	0.0114925133	-0.0080798874	-0.0143328392	0.0095770944	-0.0053865916	-0.0214992587	0.0071828208	-0.0040399437	-0.0107496294	0.0143656417	-0.0040399437	-0.0107496294	0.0071828208	-0.0080798874	-0.0042998517	0.0057462567	-0.0113118424	-0.0085997035	0.0028731283	-0.0113118424	-0.0300989622	0.0057462567	-0.0016159775	-2.06%
	8/29/14	3.30%	7.22%	7.49%	0.0099005957	0.0144351499	0.0374418064	0.0132007942	0.0288702997	0.0149767226	0.0033001986	0.0288702997	0.0374418064	0.0110006618	0.0240585831	0.0249612043	0.0165009928	0.0180439373	0.0187209032	0.0082504964	0.0360878747	0.0187209032	0.0082504964	0.0180439373	0.0374418064	0.0033001986	0.0144351499	0.0524185289	0.0066003971	0.0072175749	0.0524185289	0.0231013899	0.0144351499	0.0074883613	4.02%
	9/30/14	-1.39%	-1.71%	0.76%	-0.004157029	-0.0034146341	0.0037901411	-0.0055427053	-0.0068292683	0.0015160564	-0.0013856763	-0.0068292683	0.0037901411	-0.0046189211	-0.0056910569	0.0025267607	-0.0069283816	-0.0042682927	0.0018950705	-0.0034641908	-0.0085365854	0.0018950705	-0.0034641908	-0.0042682927	0.0037901411	-0.0013856763	-0.0034146341	0.0053061975	-0.0027713527	-0.0017073171	0.0053061975	-0.0096997343	-0.0034146341	0.0007580282	-2.52%
	10/31/14	0.74%	7.20%	4.22%	0.0022248082	0.0143920596	0.0210771368	0.0029664109	0.0287841191	0.0084308547	0.0007416027	0.0287841191	0.0210771368	0.0024720091	0.0239867659	0.0140514245	0.0037080137	0.0179900744	0.0105385684	0.0018540068	0.0359801489	0.0105385684	0.0018540068	0.0179900744	0.0210771368	0.0007416027	0.0143920596	0.0295079915	0.0014832055	0.0071960298	0.0295079915	0.0051912191	0.0143920596	0.0042154274	2.12%
	11/28/14	2.63%	10.12%	3.62%	0.0079039169	0.0202407413	0.0181047541	0.0105385559	0.0404814826	0.0072419016	0.002634639	0.0404814826	0.0181047541	0.0087821299	0.0337345688	0.0120698361	0.0131731949	0.0253009266	0.0090523771	0.0065865974	0.0506018533	0.0090523771	0.0065865974	0.0253009266	0.0181047541	0.002634639	0.0202407413	0.0253466558	0.0052692779	0.0101203707	0.0253466558	0.0184424728	0.0202407413	0.0036209508	2.11%
	12/31/14	-4.61%	-7.19%	0.73%	-0.0138165269	-0.0143782108	0.0036492095	-0.0184220358	-0.0287564215	0.0014596838	-0.004605509	-0.0287564215	0.0036492095	-0.0153516965	-0.0239636846	0.0024328063	-0.0230275448	-0.0179727635	0.0018246048	-0.0115137724	-0.0359455269	0.0018246048	-0.0115137724	-0.0179727635	0.0036492095	-0.004605509	-0.0143782108	0.0051088933	-0.0092110179	-0.0071891054	0.0051088933	-0.0322385627	-0.0143782108	0.0007298419	-0.37%
	1/30/15	-5.46%	6.14%	-7.47%	-0.0163830753	0.0122848461	-0.0373256982	-0.0218441004	0.0245696923	-0.0149302793	-0.0054610251	0.0245696923	-0.0373256982	-0.018203417	0.0204747435	-0.0248837988	-0.0273051255	0.0153560577	-0.0186628491	-0.0136525628	0.0307121153	-0.0186628491	-0.0136525628	0.0153560577	-0.0373256982	-0.0054610251	0.0122848461	-0.0522559775	-0.0109220502	0.0061424231	-0.0522559775	-0.0382271757	0.0122848461	-0.0074651396	-2.72%
	2/27/15	8.79%	9.64%	1.00%	0.0263708719	0.0192898646	0.0049827757	0.0351611626	0.0385797293	0.0019931103	0.0087902906	0.0385797293	0.0049827757	0.0293009688	0.0321497744	0.0033218505	0.0439514532	0.0241123308	0.0024913879	0.0219757266	0.0482246616	0.0024913879	0.0219757266	0.0241123308	0.0049827757	0.0087902906	0.0192898646	0.006975886	0.0175805813	0.0096449323	0.006975886	0.0615320345	0.0192898646	0.0009965551	5.60%
	3/31/15	-4.54%	-3.14%	-3.75%	-0.013620627	-0.0062743363	-0.0187360209	-0.0181608359	-0.0125486726	-0.0074944084	-0.004540209	-0.0125486726	-0.0187360209	-0.01513403	-0.0104572271	-0.0124906806	-0.0227010449	-0.0078429204	-0.0093680104	-0.0113505225	-0.0156858407	-0.0093680104	-0.0113505225	-0.0078429204	-0.0187360209	-0.004540209	-0.0062743363	-0.0262304292	-0.009080418	-0.0031371681	-0.0262304292	-0.0317814629	-0.0062743363	-0.0037472042	-1.04%
	4/30/15	9.15%	0.58%	-2.97%	0.0274486156	0.0011572791	-0.0148279243	0.0365981541	0.0023145583	-0.0059311697	0.0091495385	0.0023145583	-0.0148279243	0.0304984617	0.0019287986	-0.0098852829	0.0457476926	0.0014465989	-0.0074139621	0.0228738463	0.0028931979	-0.0074139621	0.0228738463	0.0014465989	-0.0148279243	0.0091495385	0.0011572791	-0.020759094	0.018299077	0.0005786396	-0.020759094	0.0640467696	0.0011572791	-0.0029655849	0.88%
	5/29/15	0.70%	4.10%	-1.41%	0.0021048804	0.0081981577	-0.0070431563	0.0028065072	0.0163963154	-0.0028172625	0.0007016268	0.0163963154	-0.0070431563	0.002338756	0.

Efficient Frontier and CAPM Exercise Efficient Frontier and CAPM Exercise. Estimated completion time: for Excel experts 2 hours, for Excel novices 20 hours. 1. The file 2023FallDataFileWRDS...

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