Calculating Stock Beta in Excel

Date

Adj Close
Adj Close
Returns (%)
IBM
S&P500 (^GSPC) IBM
S&P500 (^GSPC)
1/3/2011
145.61
1271.87
1/4/2011
145.77
1270.2
0.110%
-0.131%
1/5/2011
145.19
1276.56
-0.398%
0.501%
1/6/2011
146.78
1273.85
1.095%
-0.212%
1/7/2011
146.05
1271.5
-0.497%
-0.184%
1/10/2011
145.77
1269.75
-0.192%
-0.138%
1/11/2011
145.41
1274.48
-0.247%
0.373%
1/12/2011
147.21
1285.96
1.238%
0.901%
1/13/2011
146.93
1283.76
-0.190%
-0.171%
1/14/2011
148.1
1293.24
0.796%
0.738%
1/18/2011
148.74
1295.02
0.432%
0.138%
1/19/2011
153.72
1281.92
3.348%
-1.012%
1/20/2011
153.82
1280.26
0.065%
-0.129%
1/21/2011
1/24/2011
1/25/2011
1/26/2011
1/27/2011
1/28/2011
1/31/2011
2/1/2011
2/2/2011
2/3/2011
2/4/2011
2/7/2011
2/8/2011
2/9/2011
2/10/2011
2/11/2011
2/14/2011
2/15/2011
2/16/2011
2/17/2011
2/18/2011
2/22/2011
2/23/2011
2/24/2011
2/25/2011
2/28/2011
3/1/2011
3/2/2011
3/3/2011

153.53
157.61
159.39
159
159.03
157.19
159.95
161.49
161.23
161.46
161.92
162.73
164.59
163.21
162.65
162.41
161.79
161.41
161.97
162.8
163.39
160.53
158.78
159.36
160.86
160.46
158.57
158.76
162.05

1283.35
1290.84
1291.18
1296.63
1299.54
1276.34
1286.12
1307.59
1304.03
1307.1
1310.87
1319.05
1324.57
1320.88
1321.87
1329.15
1332.32
1328.01
1336.32
1340.43
1343.01
1315.44
1307.4
1306.1
1319.88
1327.22
1306.33
1308.44
1330.97

-0.189%
2.657%
1.129%
-0.245%
0.019%
-1.157%
1.756%
0.963%
-0.161%
0.143%
0.285%
0.500%
1.143%
-0.838%
-0.343%
-0.148%
-0.382%
-0.235%
0.347%
0.512%
0.362%
-1.750%
-1.090%
0.365%
0.941%
-0.249%
-1.178%
0.120%
2.072%

0.241%
0.584%
0.026%
0.422%
0.224%
-1.785%
0.766%
1.669%
-0.272%
0.235%
0.288%
0.624%
0.418%
-0.279%
0.075%
0.551%
0.238%
-0.323%
0.626%
0.308%
0.192%
-2.053%
-0.611%
-0.099%
1.055%
0.556%
-1.574%
0.162%
1.722%

Method 1

Beta = COVAR(range of % ch
equity,range of % change of
of % change of index)

Beta

Method 2

Beta = =SLOPE(range of % c
range of % change of index)

Beta

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3/4/2011
3/7/2011
3/8/2011
3/9/2011
3/10/2011
3/11/2011
3/14/2011
3/15/2011
3/16/2011
3/17/2011
3/18/2011
3/21/2011
3/22/2011
3/23/2011
3/24/2011
3/25/2011
3/28/2011
3/29/2011
3/30/2011
3/31/2011
4/1/2011
4/4/2011
4/5/2011
4/6/2011
4/7/2011
4/8/2011
4/11/2011
4/12/2011
4/13/2011
4/14/2011
4/15/2011
4/18/2011
4/19/2011
4/20/2011
4/21/2011
4/25/2011
4/26/2011
4/27/2011
4/28/2011
4/29/2011
5/2/2011
5/3/2011
5/4/2011
5/5/2011
5/6/2011
5/9/2011
5/10/2011
5/11/2011
5/12/2011
5/13/2011

160.41
158.53
160.86
164.41
160.6
161.01
159.97
157.63
151.66
152.83
154.52
156.3
156.61
158.13
158.64
160.76
159.96
161.45
162.17
161.64
162.83
162.81
162.55
162.6
162.94
162.61
162.51
161.82
162.51
163.52
164.75
164.48
163.95
163.31
166.8
166.2
167.01
168.88
169.28
169.08
170.64
171.35
169.12
166.98
168.16
168.37
169.64
168.77
171.49
169.18

1321.15
1310.13
1321.82
1320.02
1295.11
1304.28
1296.39
1281.87
1256.88
1273.72
1279.21
1298.38
1293.77
1297.54
1309.66
1313.8
1310.19
1319.44
1328.26
1325.83
1332.41
1332.87
1332.63
1335.54
1333.51
1328.17
1324.46
1314.16
1314.41
1314.52
1319.68
1305.14
1312.62
1330.36
1337.38
1335.25
1347.24
1355.66
1360.48
1363.61
1361.22
1356.62
1347.32
1335.1
1340.2
1346.29
1357.16
1342.08
1348.65
1337.77

-1.012%
-1.172%
1.470%
2.207%
-2.317%
0.255%
-0.646%
-1.463%
-3.787%
0.771%
1.106%
1.152%
0.198%
0.971%
0.323%
1.336%
-0.498%
0.931%
0.446%
-0.327%
0.736%
-0.012%
-0.160%
0.031%
0.209%
-0.203%
-0.061%
-0.425%
0.426%
0.622%
0.752%
-0.164%
-0.322%
-0.390%
2.137%
-0.360%
0.487%
1.120%
0.237%
-0.118%
0.923%
0.416%
-1.301%
-1.265%
0.707%
0.125%
0.754%
-0.513%
1.612%
-1.347%

-0.738%
-0.834%
0.892%
-0.136%
-1.887%
0.708%
-0.605%
-1.120%
-1.949%
1.340%
0.431%
1.499%
-0.355%
0.291%
0.934%
0.316%
-0.275%
0.706%
0.668%
-0.183%
0.496%
0.035%
-0.018%
0.218%
-0.152%
-0.400%
-0.279%
-0.778%
0.019%
0.008%
0.393%
-1.102%
0.573%
1.351%
0.528%
-0.159%
0.898%
0.625%
0.356%
0.230%
-0.175%
-0.338%
-0.686%
-0.907%
0.382%
0.454%
0.807%
-1.111%
0.490%
-0.807%

5/16/2011
5/17/2011
5/18/2011
5/19/2011
5/20/2011
5/23/2011
5/24/2011
5/25/2011
5/26/2011
5/27/2011
5/31/2011
6/1/2011
6/2/2011
6/3/2011
6/6/2011
6/7/2011
6/8/2011
6/9/2011
6/10/2011
6/13/2011
6/14/2011
6/15/2011
6/16/2011
6/17/2011
6/20/2011
6/21/2011
6/22/2011
6/23/2011
6/24/2011
6/27/2011
6/28/2011
6/29/2011
6/30/2011
7/1/2011
7/5/2011
7/6/2011
7/7/2011
7/8/2011
7/11/2011
7/12/2011
7/13/2011
7/14/2011
7/15/2011
7/18/2011
7/19/2011
7/20/2011
7/21/2011
7/22/2011
7/25/2011
7/26/2011

168.13
169.76
169.7
169.85
169.42
167.53
167.26
167.02
166.46
166.77
168.2
165.84
165.37
164.33
164.04
162.98
163.63
164.13
162.47
162.46
163.41
161.63
161.96
163.73
164.3
165.5
164.96
165.4
164.35
166.89
169.27
169.8
170.81
173.78
174.67
176.94
175.71
175.72
174.23
173.3
173.56
173.47
174.78
174.52
184.41
182.85
184.1
184.38
182.9
182.14

1329.47
1328.98
1340.68
1343.6
1333.27
1317.37
1316.28
1320.47
1325.69
1331.1
1345.2
1314.55
1312.94
1300.16
1286.17
1284.94
1279.56
1289
1270.98
1271.83
1287.87
1265.42
1267.64
1271.5
1278.36
1295.52
1287.14
1283.5
1268.45
1280.1
1296.67
1307.41
1320.64
1339.67
1337.88
1339.22
1353.22
1343.8
1319.49
1313.64
1317.72
1308.87
1316.14
1305.44
1326.73
1325.84
1343.8
1345.02
1337.43
1331.94

-0.621%
0.969%
-0.035%
0.088%
-0.253%
-1.116%
-0.161%
-0.143%
-0.335%
0.186%
0.857%
-1.403%
-0.283%
-0.629%
-0.176%
-0.646%
0.399%
0.306%
-1.011%
-0.006%
0.585%
-1.089%
0.204%
1.093%
0.348%
0.730%
-0.326%
0.267%
-0.635%
1.545%
1.426%
0.313%
0.595%
1.739%
0.512%
1.300%
-0.695%
0.006%
-0.848%
-0.534%
0.150%
-0.052%
0.755%
-0.149%
5.667%
-0.846%
0.684%
0.152%
-0.803%
-0.416%

-0.620%
-0.037%
0.880%
0.218%
-0.769%
-1.193%
-0.083%
0.318%
0.395%
0.408%
1.059%
-2.278%
-0.122%
-0.973%
-1.076%
-0.096%
-0.419%
0.738%
-1.398%
0.067%
1.261%
-1.743%
0.175%
0.305%
0.540%
1.342%
-0.647%
-0.283%
-1.173%
0.918%
1.294%
0.828%
1.012%
1.441%
-0.134%
0.100%
1.045%
-0.696%
-1.809%
-0.443%
0.311%
-0.672%
0.555%
-0.813%
1.631%
-0.067%
1.355%
0.091%
-0.564%
-0.410%

7/27/2011
7/28/2011
7/29/2011

180.56
181.01
181.06

1304.89
1300.67
1292.28

-0.867%
0.249%
0.028%

-2.031%
-0.323%
-0.645%

Beta = COVAR(range of % change of

equity,range of % change of index)/VAR(range
of % change of index)

0.8

Beta = =SLOPE(range of % change of equity,

range of % change of index)

0.8

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