Q. Using CAPM, calculate the cost of equity for your specific company.

Furth
may be computed taking appropriate risk free rate assumptions and share pri
Jan 2018 to till now (You may use www.yahoofinance.com & RBI’s website fo
and provide a source in your file). Calculate cost of equity and write your interp
as well as beta values. Finally, calculate the weights for different sources of
with their cost. Further, compute WACC for your company using data f
statement of your specific company. Take appropriate assumptions as regards
debt or term loan if not specifically mentioned in the statement. Assume a tax r

Maruti NIFTY
Date Adj Close Date Adj Close
1/30/2018 9192.069336 1/30/2018 11049.65 Yes
1/31/2018 9132.671875 -0.006462 1/31/2018 11027.7 -0.001987 Yes
2/1/2018 9029.097656 -0.011341 2/1/2018 11016.9 -0.000979 Yes
2/2/2018 8634.151367 -0.043742 2/2/2018 10760.6 -0.023264 Yes
2/5/2018 8720.583984 0.010011 2/5/2018 10666.55 -0.00874 Yes
2/6/2018 8628.388672 -0.010572 2/6/2018 10498.25 -0.015778 Yes
2/7/2018 8568.081055 -0.006989 2/7/2018 10476.7 -0.002053 Yes
2/8/2018 8672.662109 0.012206 2/8/2018 10576.85 0.009559 Yes
2/9/2018 8581.8125 -0.010475 2/9/2018 10454.95 -0.011525 Yes
2/12/2018 8756.357422 0.020339 2/12/2018 10539.75 0.008111 Yes
2/14/2018 8644.71582 -0.01275 2/14/2018 10500.9 -0.003686 Yes
2/15/2018 8662.62793 0.002072 2/15/2018 10545.5 0.004247 Yes
2/16/2018 8486.594727 -0.020321 2/16/2018 10452.3 -0.008838 Yes
2/19/2018 8378.9375 -0.012686 2/19/2018 10378.4 -0.00707 Yes
2/20/2018 8376.826172 -0.000252 2/20/2018 10360.4 -0.001734 Yes
2/21/2018 8434.542969 0.00689 2/21/2018 10397.45 0.003576 Yes
2/22/2018 8291.738281 -0.016931 2/22/2018 10382.7 -0.001419 Yes
2/23/2018 8353.920898 0.007499 2/23/2018 10491.05 0.010436 Yes
2/26/2018 8648.317383 0.035241 2/26/2018 10582.6 0.008726 Yes
2/27/2018 8538.693359 -0.012676 2/27/2018 10554.3 -0.002674 Yes
2/28/2018 8500.038086 -0.004527 2/28/2018 10492.85 -0.005822 Yes
3/1/2018 8521.646484 0.002542 3/1/2018 10458.35 -0.003288 Yes
3/5/2018 8446.40332 -0.00883 3/5/2018 10358.85 -0.009514 Yes
3/6/2018 8274.883789 -0.020307 3/6/2018 10249.25 -0.01058 Yes
3/7/2018 8335.00293 0.007265 3/7/2018 10154.2 -0.009274 Yes
3/8/2018 8383.259766 0.00579 3/8/2018 10242.65 0.008711 Yes
3/9/2018 8317.236328 -0.007876 3/9/2018 10226.85 -0.001543 Yes
3/12/2018 8461.000977 0.017285 3/12/2018 10421.4 0.019024 Yes
3/13/2018 8408.901367 -0.006158 3/13/2018 10426.85 0.000523 Yes
3/14/2018 8495.573242 0.010307 3/14/2018 10410.9 -0.00153 Yes
3/15/2018 8487.169922 -0.000989 3/15/2018 10360.15 -0.004875 Yes
3/16/2018 8332.553711 -0.018218 3/16/2018 10195.15 -0.015926 Yes
3/19/2018 8425.660156 0.011174 3/19/2018 10094.25 -0.009897 Yes
3/20/2018 8453.415039 0.003294 3/20/2018 10124.35 0.002982 Yes
3/21/2018 8522.799805 0.008208 3/21/2018 10155.25 0.003052 Yes
3/22/2018 8351.759766 -0.020069 3/22/2018 10114.75 -0.003988 Yes
3/23/2018 8266.000977 -0.010268 3/23/2018 9998.05 -0.011538 Yes
3/26/2018 8417.78418 0.018362 3/26/2018 10130.65 0.013263 Yes
3/27/2018 8501.334961 0.009926 3/27/2018 10184.15 0.005281 Yes
3/28/2018 8509.787109 0.000994 3/28/2018 10113.7 -0.006918 Yes
4/2/2018 8651.054688 0.016601 4/2/2018 10211.8 0.0097 Yes
4/3/2018 8668.581055 0.002026 4/3/2018 10245 0.003251 Yes
4/4/2018 8656.144531 -0.001435 4/4/2018 10128.4 -0.011381 Yes
4/5/2018 8770.522461 0.013213 4/5/2018 10325.15 0.019426 Yes
4/6/2018 8841.205078 0.008059 4/6/2018 10331.6 0.000625 Yes
4/9/2018 8924.227539 0.00939 4/9/2018 10379.35 0.004622 Yes
4/10/2018 8905.788086 -0.002066 4/10/2018 10402.25 0.002206 Yes
4/11/2018 8933.6875 0.003133 4/11/2018 10417.15 0.001432 Yes
4/12/2018 8839.523438 -0.01054 4/12/2018 10458.65 0.003984 Yes
4/13/2018 8762.21582 -0.008746 4/13/2018 10480.6 0.002099 Yes
4/16/2018 8865.981445 0.011842 4/16/2018 10528.35 0.004556 Yes
4/17/2018 8797.172852 -0.007761 4/17/2018 10548.7 0.001933 Yes
4/18/2018 8759.862305 -0.004241 4/18/2018 10526.2 -0.002133 Yes
4/19/2018 8717.751953 -0.004807 4/19/2018 10565.3 0.003715 Yes
4/20/2018 8667.188477 -0.0058 4/20/2018 10564.05 -0.000118 Yes
4/23/2018 8705.458008 0.004415 4/23/2018 10584.7 0.001955 Yes
4/24/2018 8705.265625 -2.21E-05 4/24/2018 10614.35 0.002801 Yes
4/25/2018 8580.37207 -0.014347 4/25/2018 10570.55 -0.004126 Yes
4/26/2018 8591.75293 0.001326 4/26/2018 10617.8 0.00447 Yes
4/27/2018 8435.119141 -0.018231 4/27/2018 10692.3 0.007017 Yes
4/30/2018 8465.46582 0.003598 4/30/2018 10739.35 0.0044 Yes
5/2/2018 8397.808594 -0.007992 5/2/2018 10718.05 -0.001983 Yes
5/3/2018 8408.805664 0.00131 5/3/2018 10679.65 -0.003583 Yes
5/4/2018 8334.138672 -0.00888 5/4/2018 10618.25 -0.005749 Yes
5/7/2018 8397.040039 0.007547 5/7/2018 10715.5 0.009159 Yes
5/8/2018 8427.292969 0.003603 5/8/2018 10717.8 0.000215 Yes
5/9/2018 8372.695313 -0.006479 5/9/2018 10741.7 0.00223 Yes
5/10/2018 8359.828125 -0.001537 5/10/2018 10716.55 -0.002341 Yes
5/11/2018 8403.378906 0.00521 5/11/2018 10806.5 0.008394 Yes
5/14/2018 8361.795898 -0.004948 5/14/2018 10806.6 9.218E-06 Yes
5/15/2018 8380.618164 0.002251 5/15/2018 10801.85 -0.00044 Yes
5/16/2018 8350.848633 -0.003552 5/16/2018 10741.1 -0.005624 Yes
5/17/2018 8352.673828 0.000219 5/17/2018 10682.7 -0.005437 Yes
5/18/2018 8173.519531 -0.021449 5/18/2018 10596.4 -0.008078 Yes
5/21/2018 8094.338379 -0.009688 5/21/2018 10516.7 -0.007521 Yes
5/22/2018 8221.248047 0.015679 5/22/2018 10536.7 0.001902 Yes
5/23/2018 8160.506836 -0.007388 5/23/2018 10430.35 -0.010093 Yes
5/24/2018 8077.291992 -0.010197 5/24/2018 10513.85 0.008005 Yes
5/25/2018 8209.244141 0.016336 5/25/2018 10605.15 0.008684 Yes
5/28/2018 8364.004883 0.018852 5/28/2018 10688.65 0.007874 Yes
5/29/2018 8369.383789 0.000643 5/29/2018 10633.3 -0.005178 Yes
5/30/2018 8247.707031 -0.014538 5/30/2018 10614.35 -0.001782 Yes
5/31/2018 8198.728516 -0.005938 5/31/2018 10736.15 0.011475 Yes
6/1/2018 8459.608398 0.03182 6/1/2018 10696.2 -0.003721 Yes
6/4/2018 8402.946289 -0.006698 6/4/2018 10628.5 -0.006329 Yes
6/5/2018 8461.09668 0.00692 6/5/2018 10593.15 -0.003326 Yes
6/6/2018 8491.779297 0.003626 6/6/2018 10684.65 0.008638 Yes
6/7/2018 8557.948242 0.007792 6/7/2018 10768.35 0.007834 Yes
6/8/2018 8578.308594 0.002379 6/8/2018 10767.65 -6.49E-05 Yes
6/11/2018 8664.932617 0.010098 6/11/2018 10786.95 0.001792 Yes
6/12/2018 8659.265625 -0.000654 6/12/2018 10842.85 0.005182 Yes
6/13/2018 8611.824219 -0.005479 6/13/2018 10856.7 0.001277 Yes
6/14/2018 8602.844727 -0.001043 6/14/2018 10808.05 -0.004481 Yes
6/15/2018 8596.697266 -0.000715 6/15/2018 10817.7 0.000893 Yes
6/18/2018 8617.682617 0.002441 6/18/2018 10799.85 -0.00165 Yes
6/19/2018 8511.226563 -0.012353 6/19/2018 10710.45 -0.008278 Yes
6/20/2018 8593.529297 0.00967 6/20/2018 10772.05 0.005751 Yes
6/21/2018 8511.65918 -0.009527 6/21/2018 10741.1 -0.002873 Yes
6/22/2018 8523.040039 0.001337 6/22/2018 10821.85 0.007518 Yes
6/25/2018 8444.386719 -0.009228 6/25/2018 10762.45 -0.005489 Yes
6/26/2018 8577.25 0.015734 6/26/2018 10769.15 0.000623 Yes
6/27/2018 8545.511719 -0.0037 6/27/2018 10671.4 -0.009077 Yes
6/28/2018 8423.546875 -0.014272 6/28/2018 10589.1 -0.007712 Yes
6/29/2018 8475.694336 0.006191 6/29/2018 10714.3 0.011823 Yes
7/2/2018 8471.324219 -0.000516 7/2/2018 10657.3 -0.00532 Yes
7/3/2018 8619.31543 0.01747 7/3/2018 10699.9 0.003997 Yes
7/4/2018 8855.225586 0.02737 7/4/2018 10769.9 0.006542 Yes
7/5/2018 8976.469727 0.013692 7/5/2018 10749.75 -0.001871 Yes
7/6/2018 8948.09082 -0.003161 7/6/2018 10772.65 0.00213 Yes
7/9/2018 9003.216797 0.006161 7/9/2018 10852.9 0.007449 Yes
7/10/2018 9153.126953 0.016651 7/10/2018 10947.25 0.008693 Yes
7/11/2018 9012.62793 -0.01535 7/11/2018 10948.3 9.59E-05 Yes
7/12/2018 8976.423828 -0.004017 7/12/2018 11023.2 0.006841 Yes
7/13/2018 9057.139648 0.008992 7/13/2018 11018.9 -0.00039 Yes
7/16/2018 9013.204102 -0.004851 7/16/2018 10936.85 -0.007446 Yes
7/17/2018 9070.921875 0.006404 7/17/2018 11008.05 0.00651 Yes
7/18/2018 8995.4375 -0.008322 7/18/2018 10980.45 -0.002507 Yes
7/19/2018 9016.852539 0.002381 7/19/2018 10957.1 -0.002127 Yes
7/20/2018 9026.313477 0.001049 7/20/2018 11010.2 0.004846 Yes
7/23/2018 9316.386719 0.032136 7/23/2018 11084.75 0.006771 Yes
7/24/2018 9442.625977 0.01355 7/24/2018 11134.3 0.00447 Yes
7/25/2018 9372.040039 -0.007475 7/25/2018 11132 -0.000207 Yes
7/26/2018 9023.719727 -0.037166 7/26/2018 11167.3 0.003171 Yes
7/27/2018 8941.273438 -0.009137 7/27/2018 11278.35 0.009944 Yes
7/30/2018 9009.939453 0.00768 7/30/2018 11319.55 0.003653 Yes
7/31/2018 9143.091797 0.014778 7/31/2018 11356.5 0.003264 Yes
8/1/2018 8971.235352 -0.018796 8/1/2018 11346.2 -0.000907 Yes
8/2/2018 8779.933594 -0.021324 8/2/2018 11244.7 -0.008946 Yes
8/3/2018 8822.765625 0.004878 8/3/2018 11360.8 0.010325 Yes
8/6/2018 8918.225586 0.01082 8/6/2018 11387.1 0.002315 Yes
8/7/2018 9038.365234 0.013471 8/7/2018 11389.45 0.000206 Yes
8/8/2018 8842.357422 -0.021686 8/8/2018 11450 0.005316 Yes
8/9/2018 8783.439453 -0.006663 8/9/2018 11470.7 0.001808 Yes
8/10/2018 8785.551758 0.00024 8/10/2018 11429.5 -0.003592 Yes
8/13/2018 8720.824219 -0.007367 8/13/2018 11355.75 -0.006453 Yes
8/14/2018 8848.475586 0.014638 8/14/2018 11435.1 0.006988 Yes
8/16/2018 8993.088867 0.016343 8/16/2018 11385.05 -0.004377 Yes
8/17/2018 8945.731445 -0.005266 8/17/2018 11470.75 0.007527 Yes
8/20/2018 8869.734375 -0.008495 8/20/2018 11551.75 0.007061 Yes
8/21/2018 8907.807617 0.004292 8/21/2018 11570.9 0.001658 Yes
8/23/2018 9015.326172 0.01207 8/23/2018 11582.75 0.001024 Yes
8/24/2018 8957.167969 -0.006451 8/24/2018 11557.1 -0.002215 Yes
8/27/2018 9036.782227 0.008888 8/27/2018 11691.95 0.011668 Yes
8/28/2018 9215.362305 0.019761 8/28/2018 11738.5 0.003981 Yes
8/29/2018 9156.861328 -0.006348 8/29/2018 11691.9 -0.00397 Yes
8/30/2018 8998.220703 -0.017325 8/30/2018 11676.8 -0.001292 Yes
8/31/2018 8891.289063 -0.011884 8/31/2018 11680.5 0.000317 Yes
9/3/2018 8701.418945 -0.021355 9/3/2018 11582.35 -0.008403 Yes
9/4/2018 8668.527344 -0.00378 9/4/2018 11520.3 -0.005357 Yes
9/5/2018 8695.503906 0.003112 9/5/2018 11476.95 -0.003763 Yes
9/6/2018 8562.326172 -0.015316 9/6/2018 11536.9 0.005224 Yes
9/7/2018 8522.59375 -0.00464 9/7/2018 11589.1 0.004525 Yes
9/10/2018 8444.592773 -0.009152 9/10/2018 11438.1 -0.013029 Yes
9/11/2018 8325.001953 -0.014162 9/11/2018 11287.5 -0.013166 Yes
9/12/2018 8302.422852 -0.002712 9/12/2018 11369.9 0.0073 Yes
9/14/2018 8432.179688 0.015629 9/14/2018 11515.2 0.012779 Yes
9/17/2018 8345.283203 -0.010305 9/17/2018 11377.75 -0.011936 Yes
9/18/2018 8209.759766 -0.01624 9/18/2018 11278.9 -0.008688 Yes
9/19/2018 8025.216797 -0.022478 9/19/2018 11234.35 -0.00395 Yes
9/21/2018 7858.85498 -0.02073 9/21/2018 11143.1 -0.008122 Yes
9/24/2018 7617.32666 -0.030733 9/24/2018 10967.4 -0.015768 Yes
9/25/2018 7819.073242 0.026485 9/25/2018 11067.45 0.009122 Yes
9/26/2018 7665.710449 -0.019614 9/26/2018 11053.8 -0.001233 Yes
9/27/2018 7382.738281 -0.036914 9/27/2018 10977.55 -0.006898 Yes
 9/28/2018 7182.263672 -0.027155 9/28/2018 10930.45 -0.004291 Yes
10/1/2018 7295.647949 0.015787 10/1/2018 11008.3 0.007122 Yes
10/3/2018 7082.612305 -0.0292 10/3/2018 10858.25 -0.013631 Yes
10/4/2018 7036.427246 -0.006521 10/4/2018 10599.25 -0.023853 Yes
10/5/2018 6748.666016 -0.040896 10/5/2018 10316.45 -0.026681 Yes
10/8/2018 6734.395508 -0.002115 10/8/2018 10348.05 0.003063 Yes
10/9/2018 6548.38623 -0.027621 10/9/2018 10301.05 -0.004542 Yes
10/10/2018 6828.328125 0.04275 10/10/2018 10460.1 0.01544 Yes
10/11/2018 6720.466309 -0.015796 10/11/2018 10234.65 -0.021553 Yes
10/12/2018 7122.883301 0.059879 10/12/2018 10472.5 0.02324 Yes
10/15/2018 7020.055176 -0.014436 10/15/2018 10512.5 0.00382 Yes
10/16/2018 6989.65625 -0.00433 10/16/2018 10584.75 0.006873 Yes
10/17/2018 6730.338379 -0.0371 10/17/2018 10453.05 -0.012442 Yes
10/19/2018 6604.101074 -0.018756 10/19/2018 10303.55 -0.014302 Yes
10/22/2018 6658.59375 0.008251 10/22/2018 10245.25 -0.005658 Yes
10/23/2018 6618.615723 -0.006004 10/23/2018 10146.8 -0.009609 Yes
10/24/2018 6615.683105 -0.000443 10/24/2018 10224.75 0.007682 Yes
10/25/2018 6571.600586 -0.006663 10/25/2018 10124.9 -0.009765 Yes
10/26/2018 6565.833496 -0.000878 10/26/2018 10030 -0.009373 Yes
10/29/2018 6645.398438 0.012118 10/29/2018 10250.85 0.022019 Yes
10/30/2018 6545.991211 -0.014959 10/30/2018 10198.4 -0.005117 Yes
10/31/2018 6467.208984 -0.012035 10/31/2018 10386.6 0.018454 Yes
11/1/2018 6560.408691 0.014411 11/1/2018 10380.45 -0.000592 Yes
11/2/2018 6974.554688 0.063128 11/2/2018 10553 0.016623 Yes
11/5/2018 7015.412598 0.005858 11/5/2018 10524 -0.002748 Yes
11/6/2018 6915.467773 -0.014246 11/6/2018 10530 0.00057 Yes
11/7/2018 6967.174805 0.007477 11/7/2018 10598.4 0.006496 Yes
11/9/2018 7119.266113 0.02183 11/9/2018 10585.2 -0.001245 Yes
11/12/2018 6927.979004 -0.026869 11/12/2018 10482.2 -0.009731 Yes
11/13/2018 6989.216797 0.008839 11/13/2018 10582.5 0.009569 Yes
11/14/2018 7202.887207 0.030571 11/14/2018 10576.3 -0.000586 Yes
11/15/2018 7309.673828 0.014826 11/15/2018 10616.7 0.00382 Yes
11/16/2018 7175.665527 -0.018333 11/16/2018 10682.2 0.00617 Yes
11/19/2018 7244.526855 0.009597 11/19/2018 10763.4 0.007601 Yes
11/20/2018 7168.579102 -0.010483 11/20/2018 10656.2 -0.00996 Yes
11/21/2018 7257.087402 0.012347 11/21/2018 10600.05 -0.005269 Yes
11/22/2018 7243.989258 -0.001805 11/22/2018 10526.75 -0.006915 Yes
11/26/2018 7384.351563 0.019376 11/26/2018 10628.6 0.009675 Yes
11/27/2018 7475.15625 0.012297 11/27/2018 10685.6 0.005363 Yes
11/28/2018 7403.411621 -0.009598 11/28/2018 10728.85 0.004048 Yes
11/29/2018 7376.580566 -0.003624 11/29/2018 10858.7 0.012103 Yes
11/30/2018 7488.84082 0.015218 11/30/2018 10876.75 0.001662 Yes
12/3/2018 7604.522461 0.015447 12/3/2018 10883.75 0.000644 Yes
12/4/2018 7547.536621 -0.007494 12/4/2018 10869.5 -0.001309 Yes
12/5/2018 7383.71582 -0.021705 12/5/2018 10782.9 -0.007967 Yes
 12/6/2018 7047.130859 -0.045585 12/6/2018 10601.15 -0.016855 Yes
12/7/2018 7149.029785 0.01446 12/7/2018 10693.7 0.00873 Yes
12/10/2018 7184.755859 0.004997 12/10/2018 10488.45 -0.019194 Yes
12/11/2018 7140.624023 -0.006142 12/11/2018 10549.15 0.005787 Yes
12/12/2018 7303.369629 0.022792 12/12/2018 10737.6 0.017864 Yes
12/13/2018 7497.540039 0.026586 12/13/2018 10791.55 0.005024 Yes
12/14/2018 7489.378418 -0.001089 12/14/2018 10805.45 0.001288 Yes
12/17/2018 7559.657227 0.009384 12/17/2018 10888.35 0.007672 Yes
12/18/2018 7597.09375 0.004952 12/18/2018 10908.7 0.001869 Yes
12/19/2018 7757.053223 0.021055 12/19/2018 10967.3 0.005372 Yes
12/20/2018 7631.010742 -0.016249 12/20/2018 10951.7 -0.001422 Yes
12/21/2018 7366.365723 -0.03468 12/21/2018 10754 -0.018052 Yes
12/24/2018 7359.377441 -0.000949 12/24/2018 10663.5 -0.008415 Yes
12/26/2018 7398.426758 0.005306 12/26/2018 10729.85 0.006222 Yes
12/27/2018 7330.835938 -0.009136 12/27/2018 10779.8 0.004655 Yes
12/28/2018 7336.30957 0.000747 12/28/2018 10859.9 0.007431 Yes
12/31/2018 7297.162598 -0.005336 12/31/2018 10862.55 0.000244 Yes
1/2/2019 7103.969238 -0.026475 1/2/2019 10792.5 -0.006449 Yes
1/3/2019 7041.510742 -0.008792 1/3/2019 10672.25 -0.011142 Yes
1/4/2019 7071.371582 0.004241 1/4/2019 10727.35 0.005163 Yes
1/7/2019 7196.044922 0.017631 1/7/2019 10771.8 0.004144 Yes
1/8/2019 7271.748535 0.01052 1/8/2019 10802.15 0.002818 Yes
1/9/2019 7323.944824 0.007178 1/9/2019 10855.15 0.004906 Yes
1/10/2019 7224.929199 -0.013519 1/10/2019 10821.6 -0.003091 Yes
1/11/2019 7155.432129 -0.009619 1/11/2019 10794.95 -0.002463 Yes
1/14/2019 7241.643555 0.012048 1/14/2019 10737.6 -0.005313 Yes
1/15/2019 7189.300781 -0.007228 1/15/2019 10886.8 0.013895 Yes
1/16/2019 7145.413574 -0.006105 1/16/2019 10890.3 0.000321 Yes
1/17/2019 7170.827148 0.003557 1/17/2019 10905.2 0.001368 Yes
1/18/2019 7192.038086 0.002958 1/18/2019 10906.95 0.00016 Yes
1/21/2019 7045.859863 -0.020325 1/21/2019 10961.85 0.005033 Yes
1/22/2019 6909.457031 -0.019359 1/22/2019 10922.75 -0.003567 Yes
1/23/2019 6886.535156 -0.003317 1/23/2019 10831.5 -0.008354 Yes
1/24/2019 6881.84375 -0.000681 1/24/2019 10849.8 0.001689 Yes
1/25/2019 6366.53125 -0.07488 1/25/2019 10780.55 -0.006383 Yes
1/28/2019 6364.234375 -0.000361 1/28/2019 10661.55 -0.011038 Yes
1/29/2019 6379.775879 0.002442 1/29/2019 10652.2 -0.000877 Yes
1/30/2019 6400.595703 0.003263 1/30/2019 10651.8 -3.76E-05 Yes
1/31/2019 6491.400391 0.014187 1/31/2019 10830.95 0.016819 Yes
2/1/2019 6805.309082 0.048358 2/1/2019 10893.65 0.005789 Yes
2/4/2019 6830.625488 0.00372 2/4/2019 10912.25 0.001707 Yes
2/5/2019 6933.648438 0.015083 2/5/2019 10934.35 0.002025 Yes
2/6/2019 7021.423828 0.012659 2/6/2019 11062.45 0.011715 Yes
2/7/2019 7137.886719 0.016587 2/7/2019 11069.4 0.000628 Yes
2/8/2019 6973.381836 -0.023047 2/8/2019 10943.6 -0.011365 Yes
2/11/2019 7016.047363 0.006118 2/11/2019 10888.8 -0.005007 Yes
2/12/2019 7000.994629 -0.002145 2/12/2019 10831.4 -0.005271 Yes
2/14/2019 6859.26416 -0.020244 2/14/2019 10746.05 -0.00788 Yes
2/15/2019 6773.786133 -0.012462 2/15/2019 10724.4 -0.002015 Yes
2/18/2019 6688.40625 -0.012604 2/18/2019 10640.95 -0.007781 Yes
2/19/2019 6651.116211 -0.005575 2/19/2019 10604.35 -0.00344 Yes
2/20/2019 6695.443359 0.006665 2/20/2019 10735.45 0.012363 Yes
2/21/2019 6648.183594 -0.007058 2/21/2019 10789.85 0.005067 Yes
2/22/2019 6756.53418 0.016298 2/22/2019 10791.65 0.000167 Yes
2/25/2019 6768.752441 0.001808 2/25/2019 10880.1 0.008196 Yes
2/26/2019 6748.617188 -0.002975 2/26/2019 10835.3 -0.004118 Yes
2/27/2019 6811.369141 0.009298 2/27/2019 10806.65 -0.002644 Yes
2/28/2019 6675.699219 -0.019918 2/28/2019 10792.5 -0.001309 Yes
3/1/2019 6778.771484 0.01544 3/1/2019 10863.5 0.006579 Yes
3/5/2019 6957.253906 0.02633 3/5/2019 10987.45 0.01141 Yes
3/6/2019 6897.775879 -0.008549 3/6/2019 11053 0.005966 Yes
3/7/2019 6870.553711 -0.003947 3/7/2019 11058.2 0.00047 Yes
3/8/2019 6810.587402 -0.008728 3/8/2019 11035.4 -0.002062 Yes
3/11/2019 6922.212402 0.01639 3/11/2019 11168.05 0.01202 Yes
3/12/2019 6995.814941 0.010633 3/12/2019 11301.2 0.011922 Yes
3/13/2019 6931.155762 -0.009243 3/13/2019 11341.7 0.003584 Yes
3/14/2019 6926.512695 -0.00067 3/14/2019 11343.25 0.000137 Yes
3/15/2019 6924.265137 -0.000324 3/15/2019 11426.85 0.00737 Yes
3/18/2019 6738.549316 -0.026821 3/18/2019 11462.2 0.003094 Yes
3/19/2019 6671.300781 -0.00998 3/19/2019 11532.4 0.006124 Yes
3/20/2019 6523.070313 -0.022219 3/20/2019 11521.05 -0.000984 Yes
3/22/2019 6404.945313 -0.018109 3/22/2019 11456.9 -0.005568 Yes
3/25/2019 6375.523926 -0.004594 3/25/2019 11354.25 -0.00896 Yes
3/26/2019 6437.201172 0.009674 3/26/2019 11483.25 0.011361 Yes
3/27/2019 6371.027344 -0.01028 3/27/2019 11445.05 -0.003327 Yes
3/28/2019 6447.512695 0.012005 3/28/2019 11570 0.010917 Yes
4/1/2019 6686.451172 0.037059 4/1/2019 11669.15 0.00857 Yes
4/2/2019 6734.346191 0.007163 4/2/2019 11713.2 0.003775 Yes
4/3/2019 6913.415527 0.02659 4/3/2019 11643.95 -0.005912 Yes
4/4/2019 6952.708984 0.005684 4/4/2019 11598 -0.003946 Yes
4/5/2019 6947.430664 -0.000759 4/5/2019 11665.95 0.005859 Yes
4/8/2019 6968.689941 0.00306 4/8/2019 11604.5 -0.005267 Yes
4/9/2019 7053.826172 0.012217 4/9/2019 11671.95 0.005812 Yes
4/10/2019 7024.307129 -0.004185 4/10/2019 11584.3 -0.007509 Yes
4/11/2019 7025.773438 0.000209 4/11/2019 11596.7 0.00107 Yes
4/12/2019 7177.27832 0.021564 4/12/2019 11643.45 0.004031 Yes
4/15/2019 7186.710449 0.001314 4/15/2019 11690.35 0.004028 Yes
4/16/2019 7290.369141 0.014424 4/16/2019 11787.15 0.00828 Yes
4/18/2019 7279.519531 -0.001488 4/18/2019 11752.8 -0.002914 Yes
4/22/2019 7156.165527 -0.016945 4/22/2019 11594.45 -0.013473 Yes
4/23/2019 6889.956543 -0.0372 4/23/2019 11575.95 -0.001596 Yes
4/24/2019 6858.48291 -0.004568 4/24/2019 11726.15 0.012975 Yes
4/25/2019 6749.54541 -0.015884 4/25/2019 11641.8 -0.007193 Yes
4/26/2019 6688.552734 -0.009037 4/26/2019 11754.65 0.009694 Yes
4/30/2019 6516.081055 -0.025786 4/30/2019 11748.15 -0.000553 Yes
5/2/2019 6532.55127 0.002528 5/2/2019 11724.75 -0.001992 Yes
5/3/2019 6558.698242 0.004003 5/3/2019 11712.25 -0.001066 Yes
5/6/2019 6558.355957 -5.22E-05 5/6/2019 11598.25 -0.009733 Yes
5/7/2019 6550.878418 -0.00114 5/7/2019 11497.9 -0.008652 Yes
5/8/2019 6500.197754 -0.007736 5/8/2019 11359.45 -0.012041 Yes
5/9/2019 6475.566406 -0.003789 5/9/2019 11301.8 -0.005075 Yes
5/10/2019 6482.065918 0.001004 5/10/2019 11278.9 -0.002026 Yes
5/13/2019 6396.197266 -0.013247 5/13/2019 11148.2 -0.011588 Yes
5/14/2019 6427.915039 0.004959 5/14/2019 11222.05 0.006624 Yes
5/15/2019 6347.324219 -0.012538 5/15/2019 11157 -0.005797 Yes
5/16/2019 6333.541992 -0.002171 5/16/2019 11257.1 0.008972 Yes
5/17/2019 6555.619141 0.035064 5/17/2019 11407.15 0.013329 Yes
5/20/2019 6924.851563 0.056323 5/20/2019 11828.25 0.036915 Yes
5/21/2019 6720.319824 -0.029536 5/21/2019 11709.1 -0.010073 Yes
5/22/2019 6744.218262 0.003556 5/22/2019 11737.9 0.00246 Yes
5/23/2019 6773.004395 0.004268 5/23/2019 11657.05 -0.006888 Yes
5/24/2019 6933.208496 0.023653 5/24/2019 11844.1 0.016046 Yes
5/27/2019 6909.065918 -0.003482 5/27/2019 11924.75 0.006809 Yes
5/28/2019 6895.57666 -0.001952 5/28/2019 11928.75 0.000335 Yes
5/29/2019 6736.057129 -0.023134 5/29/2019 11861.1 -0.005671 Yes
5/30/2019 6712.842773 -0.003446 5/30/2019 11945.9 0.007149 Yes
5/31/2019 6714.943848 0.000313 5/31/2019 11922.8 -0.001934 Yes
6/3/2019 6864.54248 0.022278 6/3/2019 12088.55 0.013902 Yes
6/4/2019 6892.791016 0.004115 6/4/2019 12021.65 -0.005534 Yes
6/6/2019 6831.114258 -0.008948 6/6/2019 11843.75 -0.014798 Yes
6/7/2019 6791.575684 -0.005788 6/7/2019 11870.65 0.002271 Yes
6/10/2019 6812.786621 0.003123 6/10/2019 11922.7 0.004385 Yes
6/11/2019 6820.948242 0.001198 6/11/2019 11965.6 0.003598 Yes
6/12/2019 6697.496094 -0.018099 6/12/2019 11906.2 -0.004964 Yes
6/13/2019 6631.713867 -0.009822 6/13/2019 11914.05 0.000659 Yes
6/14/2019 6595.254883 -0.005498 6/14/2019 11823.3 -0.007617 Yes
6/17/2019 6433.242188 -0.024565 6/17/2019 11672.15 -0.012784 Yes
6/18/2019 6293.809082 -0.021674 6/18/2019 11691.5 0.001658 Yes
6/19/2019 6279.782227 -0.002229 6/19/2019 11691.45 -4.26E-06 Yes
6/20/2019 6467.550781 0.0299 6/20/2019 11831.75 0.012 Yes
6/21/2019 6272.549316 -0.030151 6/21/2019 11724.1 -0.009098 Yes
6/24/2019 6314.237793 0.006646 6/24/2019 11699.65 -0.002085 Yes
6/25/2019 6375.425781 0.00969 6/25/2019 11796.45 0.008274 Yes
6/26/2019 6334.177246 -0.00647 6/26/2019 11847.55 0.004332 Yes
6/27/2019 6340.433594 0.000988 6/27/2019 11841.55 -0.000506 Yes
6/28/2019 6387.302246 0.007392 6/28/2019 11788.85 -0.00445 Yes
7/1/2019 6361.106445 -0.004101 7/1/2019 11865.6 0.00651 Yes
7/2/2019 6412.080566 0.008013 7/2/2019 11910.3 0.003767 Yes
7/3/2019 6386.471191 -0.003994 7/3/2019 11916.75 0.000542 Yes
7/4/2019 6396.881348 0.00163 7/4/2019 11946.75 0.002517 Yes
7/5/2019 6216.589844 -0.028184 7/5/2019 11811.15 -0.01135 Yes
7/8/2019 5902.535156 -0.050519 7/8/2019 11558.6 -0.021382 Yes
7/9/2019 5811.388184 -0.015442 7/9/2019 11555.9 -0.000234 Yes
7/10/2019 5794.233398 -0.002952 7/10/2019 11498.9 -0.004933 Yes
7/11/2019 5895.20459 0.017426 7/11/2019 11582.9 0.007305 Yes
7/12/2019 5836.801758 -0.009907 7/12/2019 11552.5 -0.002625 Yes
7/15/2019 5942.61084 0.018128 7/15/2019 11588.35 0.003103 Yes
7/16/2019 6019.193848 0.012887 7/16/2019 11662.6 0.006407 Yes
7/17/2019 5938.701172 -0.013373 7/17/2019 11687.5 0.002135 Yes
7/18/2019 5749.710449 -0.031824 7/18/2019 11596.9 -0.007752 Yes
7/19/2019 5639.014648 -0.019252 7/19/2019 11419.25 -0.015319 Yes
7/22/2019 5779.180664 0.024856 7/22/2019 11346.2 -0.006397 Yes
7/23/2019 5741.304688 -0.006554 7/23/2019 11331.05 -0.001335 Yes
7/24/2019 5637.938965 -0.018004 7/24/2019 11271.3 -0.005273 Yes
7/25/2019 5626.942871 -0.00195 7/25/2019 11252.15 -0.001699 Yes
7/26/2019 5674.739746 0.008494 7/26/2019 11284.3 0.002857 Yes
7/29/2019 5435.851074 -0.042097 7/29/2019 11189.2 -0.008428 Yes
7/30/2019 5382.970703 -0.009728 7/30/2019 11085.4 -0.009277 Yes
7/31/2019 5346.365723 -0.0068 7/31/2019 11118 0.002941 Yes
8/1/2019 5446.945313 0.018813 8/1/2019 10980 -0.012412 Yes
8/2/2019 5561.062988 0.020951 8/2/2019 10997.35 0.00158 Yes
8/5/2019 5542.491211 -0.00334 8/5/2019 10862.6 -0.012253 Yes
8/6/2019 5701.766602 0.028737 8/6/2019 10948.25 0.007885 Yes
8/7/2019 5644.78125 -0.009994 8/7/2019 10855.5 -0.008472 Yes
8/8/2019 5769.162109 0.022035 8/8/2019 11032.45 0.016301 Yes
8/9/2019 5962.35498 0.033487 8/9/2019 11109.65 0.006998 Yes
8/13/2019 5684.319336 -0.046632 8/13/2019 10925.85 -0.016544 Yes
8/14/2019 5764.150879 0.014044 8/14/2019 11029.4 0.009478 Yes
8/16/2019 5921.782715 0.027347 8/16/2019 11047.8 0.001668 Yes
8/19/2019 5929.21582 0.001255 8/19/2019 11053.9 0.000552 Yes
8/20/2019 6135.758789 0.034835 8/20/2019 11017 -0.003338 Yes
8/21/2019 6173.370117 0.00613 8/21/2019 10918.7 -0.008923 Yes
8/22/2019 6153.201172 -0.003267 8/22/2019 10741.35 -0.016243 Yes
8/23/2019 6198.593262 0.007377 8/23/2019 10829.35 0.008193 Yes
8/26/2019 6199.782227 0.000192 8/26/2019 11057.85 0.0211 Yes
8/27/2019 6221.784668 0.003549 8/27/2019 11105.35 0.004296 Yes
8/28/2019 6048.98877 -0.027773 8/28/2019 11046.1 -0.005335 Yes
8/29/2019 6055.728516 0.001114 8/29/2019 10948.3 -0.008854 Yes
8/30/2019 6069.157227 0.002218 8/30/2019 11023.25 0.006846 Yes
9/3/2019 5995.767578 -0.012092 9/3/2019 10797.9 -0.020443 Yes
 9/4/2019 5778.769531 -0.036192 9/4/2019 10844.65 0.00433 Yes
9/5/2019 5915.439941 0.02365 9/5/2019 10847.9 0.0003 Yes
9/6/2019 6131.794434 0.036575 9/6/2019 10946.2 0.009062 Yes
9/9/2019 6279.019531 0.02401 9/9/2019 11003.05 0.005194 Yes
9/11/2019 6538.48584 0.041323 9/11/2019 11035.7 0.002967 Yes
9/12/2019 6335.06543 -0.031111 9/12/2019 10982.8 -0.004794 Yes
9/13/2019 6392.795898 0.009113 9/13/2019 11075.9 0.008477 Yes
9/16/2019 6355.581055 -0.005821 9/16/2019 11003.5 -0.006537 Yes
9/17/2019 6075.748047 -0.044029 9/17/2019 10817.6 -0.016895 Yes
9/18/2019 6040.712891 -0.005766 9/18/2019 10840.65 0.002131 Yes
9/19/2019 5918.512695 -0.020229 9/19/2019 10704.8 -0.012532 Yes
9/20/2019 6533.183594 0.103856 9/20/2019 11274.2 0.053191 Yes
9/23/2019 6836.356445 0.046405 9/23/2019 11600.2 0.028916 Yes
9/24/2019 6946.614746 0.016128 9/24/2019 11588.2 -0.001034 Yes
9/25/2019 6579.318359 -0.052874 9/25/2019 11440.2 -0.012772 Yes
9/26/2019 6796.316895 0.032982 9/26/2019 11571.2 0.011451 Yes
9/27/2019 6713.313477 -0.012213 9/27/2019 11512.4 -0.005082 Yes
9/30/2019 6655.929199 -0.008548 9/30/2019 11474.45 -0.003296 Yes
10/1/2019 6721.539063 0.009857 10/1/2019 11359.9 -0.009983 Yes
10/3/2019 6693.838379 -0.004121 10/3/2019 11314 -0.004041 Yes
10/4/2019 6590.319824 -0.015465 10/4/2019 11174.75 -0.012308 Yes
10/7/2019 6570.745605 -0.00297 10/7/2019 11126.4 -0.004327 Yes
10/9/2019 6659.645996 0.01353 10/9/2019 11313.3 0.016798 Yes
10/10/2019 6546.563477 -0.01698 10/10/2019 11234.55 -0.006961 Yes
10/11/2019 6639.180176 0.014147 10/11/2019 11305.05 0.006275 Yes
10/14/2019 6760.290527 0.018242 10/14/2019 11341.15 0.003193 Yes
10/15/2019 6923.472656 0.024138 10/15/2019 11428.3 0.007684 Yes
10/16/2019 6912.818848 -0.001539 10/16/2019 11464 0.003124 Yes
10/17/2019 7060.391113 0.021348 10/17/2019 11586.35 0.010673 Yes
10/18/2019 7237.200684 0.025042 10/18/2019 11661.85 0.006516 Yes
10/22/2019 7191.561523 -0.006306 10/22/2019 11588.35 -0.006303 Yes
10/23/2019 7373.920898 0.025357 10/23/2019 11604.1 0.001359 Yes
10/24/2019 7325.506348 -0.006566 10/24/2019 11582.6 -0.001853 Yes
10/25/2019 7404.54541 0.01079 10/25/2019 11583.9 0.000112 Yes
11/1/2019 7550.730469 0.019743 11/1/2019 11890.6 0.026476 Yes
11/4/2019 7357.815918 -0.025549 11/4/2019 11941.3 0.004264 Yes
11/5/2019 7323.12793 -0.004714 11/5/2019 11917.2 -0.002018 Yes
11/6/2019 7245.97168 -0.010536 11/6/2019 11966.05 0.004099 Yes
11/7/2019 7222.185547 -0.003283 11/7/2019 12012.05 0.003844 Yes
11/8/2019 7136.35791 -0.011884 11/8/2019 11908.15 -0.00865 Yes
11/11/2019 7073.671387 -0.008784 11/11/2019 11913.45 0.000445 Yes
11/13/2019 7090.817871 0.002424 11/13/2019 11840.45 -0.006128 Yes
11/14/2019 7182.54248 0.012936 11/14/2019 11872.1 0.002673 Yes
11/15/2019 7083.483887 -0.013792 11/15/2019 11895.45 0.001967 Yes
11/18/2019 7035.168457 -0.006821 11/18/2019 11884.5 -0.000921 Yes
11/19/2019 6982.640625 -0.007466 11/19/2019 11940.1 0.004678 Yes
11/20/2019 7088.983887 0.01523 11/20/2019 11999.1 0.004941 Yes
11/21/2019 6956.475586 -0.018692 11/21/2019 11968.4 -0.002558 Yes
11/22/2019 6997.506836 0.005898 11/22/2019 11914.4 -0.004512 Yes
11/25/2019 7171.591309 0.024878 11/25/2019 12073.75 0.013375 Yes
11/26/2019 7061.481445 -0.015354 11/26/2019 12037.7 -0.002986 Yes
11/27/2019 7229.371094 0.023775 11/27/2019 12100.7 0.005234 Yes
11/28/2019 7196.516602 -0.004545 11/28/2019 12151.15 0.004169 Yes
11/29/2019 7181.254395 -0.002121 11/29/2019 12056.05 -0.007826 Yes
12/2/2019 7075.703613 -0.014698 12/2/2019 12048.2 -0.000651 Yes
12/3/2019 7075.158203 -7.71E-05 12/3/2019 11994.2 -0.004482 Yes
12/4/2019 7013.017578 -0.008783 12/4/2019 12043.2 0.004085 Yes
12/5/2019 6950.331543 -0.008939 12/5/2019 12018.4 -0.002059 Yes
12/6/2019 6825.306152 -0.017988 12/6/2019 11921.5 -0.008063 Yes
12/9/2019 6932.392578 0.01569 12/9/2019 11937.5 0.001342 Yes
12/10/2019 6901.569824 -0.004446 12/10/2019 11856.8 -0.00676 Yes
12/11/2019 6930.856445 0.004243 12/11/2019 11910.15 0.0045 Yes
12/12/2019 6937.397461 0.000944 12/12/2019 11971.8 0.005176 Yes
12/13/2019 7150.629883 0.030737 12/13/2019 12086.7 0.009598 Yes
12/16/2019 7076.396973 -0.010381 12/16/2019 12053.95 -0.00271 Yes
12/17/2019 7131.005859 0.007717 12/17/2019 12165 0.009213 Yes
12/18/2019 7176.100098 0.006324 12/18/2019 12221.65 0.004657 Yes
12/19/2019 7176.100098 0 12/19/2019 12259.7 0.003113 Yes
12/20/2019 7196.764648 0.00288 12/20/2019 12271.8 0.000987 Yes
12/23/2019 7295.27832 0.013689 12/23/2019 12262.75 -0.000737 Yes
12/24/2019 7262.473145 -0.004497 12/24/2019 12214.55 -0.003931 Yes
12/26/2019 7176.348145 -0.011859 12/26/2019 12126.55 -0.007205 Yes
12/27/2019 7279.420898 0.014363 12/27/2019 12245.8 0.009834 Yes
12/30/2019 7350.134766 0.009714 12/30/2019 12255.85 0.000821 Yes
12/31/2019 7302.909668 -0.006425 12/31/2019 12168.45 -0.007131 Yes
1/1/2020 7246.51709 -0.007722 1/1/2020 12182.5 0.001155 Yes
1/2/2020 7264.505371 0.002482 1/2/2020 12282.2 0.008184 Yes
1/3/2020 7189.579102 -0.010314 1/3/2020 12226.65 -0.004523 Yes
1/6/2020 6979.617676 -0.029204 1/6/2020 11993.05 -0.019106 Yes
1/7/2020 7010.539551 0.00443 1/7/2020 12052.95 0.004995 Yes
1/8/2020 6972.481934 -0.005429 1/8/2020 12025.35 -0.00229 Yes
1/9/2020 7163.463867 0.027391 1/9/2020 12215.9 0.015846 Yes
1/10/2020 7265.149414 0.014195 1/10/2020 12256.8 0.003348 Yes
1/13/2020 7287.151855 0.003028 1/13/2020 12329.55 0.005935 Yes
1/14/2020 7320.947266 0.004638 1/14/2020 12362.3 0.002656 Yes
1/15/2020 7416.240723 0.013017 1/15/2020 12343.3 -0.001537 Yes
1/16/2020 7396.121094 -0.002713 1/16/2020 12355.5 0.000988 Yes
1/17/2020 7453.108398 0.007705 1/17/2020 12352.35 -0.000255 Yes
1/20/2020 7383.187988 -0.009381 1/20/2020 12224.55 -0.010346 Yes
1/21/2020 7237.547363 -0.019726 1/21/2020 12169.85 -0.004475 Yes
1/22/2020 7071.986816 -0.022875 1/22/2020 12106.9 -0.005173 Yes
1/23/2020 7083.384277 0.001612 1/23/2020 12180.35 0.006067 Yes
1/24/2020 7064.900879 -0.002609 1/24/2020 12248.25 0.005575 Yes
1/27/2020 7085.068848 0.002855 1/27/2020 12119 -0.010553 Yes
1/28/2020 6934.671875 -0.021227 1/28/2020 12055.8 -0.005215 Yes
1/29/2020 6947.803711 0.001894 1/29/2020 12129.5 0.006113 Yes
1/30/2020 6957.86377 0.001448 1/30/2020 12035.8 -0.007725 Yes
1/31/2020 6851.866699 -0.015234 1/31/2020 11962.1 -0.006123 Yes
2/3/2020 6948.794922 0.014146 2/3/2020 11707.9 -0.02125 Yes
2/4/2020 7135.416504 0.026857 2/4/2020 11979.65 0.023211 Yes
2/5/2020 6978.130859 -0.022043 2/5/2020 12089.15 0.009141 Yes
2/6/2020 6959.003418 -0.002741 2/6/2020 12137.95 0.004037 Yes
2/7/2020 6909.597656 -0.0071 2/7/2020 12098.35 -0.003263 Yes
2/10/2020 6831.450684 -0.01131 2/10/2020 12031.5 -0.005526 Yes
2/11/2020 6971.044922 0.020434 2/11/2020 12107.9 0.00635 Yes
2/12/2020 6980.509766 0.001358 2/12/2020 12201.2 0.007706 Yes
2/13/2020 6942.600586 -0.005431 2/13/2020 12174.65 -0.002176 Yes
2/14/2020 6852.164063 -0.013026 2/14/2020 12113.45 -0.005027 Yes
2/17/2020 6845.177246 -0.00102 2/17/2020 12045.8 -0.005585 Yes
2/18/2020 6720.647461 -0.018192 2/18/2020 11992.5 -0.004425 Yes
2/19/2020 6696.365723 -0.003613 2/19/2020 12125.9 0.011124 Yes
2/20/2020 6697.356934 0.000148 2/20/2020 12080.85 -0.003715 Yes
2/24/2020 6412.716797 -0.0425 2/24/2020 11829.4 -0.020814 Yes
2/25/2020 6357.364746 -0.008632 2/25/2020 11797.9 -0.002663 Yes
2/26/2020 6179.26709 -0.028014 2/26/2020 11678.5 -0.01012 Yes
2/27/2020 6233.727051 0.008813 2/27/2020 11633.3 -0.00387 Yes
2/28/2020 6227.086914 -0.001065 2/28/2020 11201.75 -0.037096 Yes
3/2/2020 6229.118652 0.000326 3/2/2020 11132.75 -0.00616 Yes
3/3/2020 6329.118652 0.016054 3/3/2020 11303.3 0.01532 Yes
3/4/2020 6327.43457 -0.000266 3/4/2020 11251 -0.004627 Yes
3/5/2020 6309.198242 -0.002882 3/5/2020 11269 0.0016 Yes
3/6/2020 6388.485352 0.012567 3/6/2020 10989.45 -0.024807 Yes
3/9/2020 6145.817871 -0.037985 3/9/2020 10451.45 -0.048956 Yes
3/11/2020 6091.506348 -0.008837 3/11/2020 10458.4 0.000665 Yes
3/12/2020 5592.841797 -0.081862 3/12/2020 9590.15 -0.083019 Yes
3/13/2020 5786.549805 0.034635 3/13/2020 9955.2 0.038065 Yes
3/16/2020 5431.394043 -0.061376 3/16/2020 9197.4 -0.076121 Yes
3/17/2020 5553.991699 0.022572 3/17/2020 8967.05 -0.025045 Yes
3/18/2020 5304.931641 -0.044843 3/18/2020 8468.8 -0.055565 Yes
3/19/2020 4776.583984 -0.099596 3/19/2020 8263.45 -0.024248 Yes
3/20/2020 5033.919922 0.053874 3/20/2020 8745.45 0.058329 Yes
3/23/2020 4182.726074 -0.169092 3/23/2020 7610.25 -0.129805 Yes
3/24/2020 4446.454102 0.063052 3/24/2020 7801.05 0.025071 Yes
3/25/2020 4961.322754 0.115793 3/25/2020 8317.85 0.066247 Yes
3/26/2020 4834.513184 -0.02556 3/26/2020 8641.45 0.038904 Yes
3/27/2020 4604.680664 -0.04754 3/27/2020 8660.25 0.002176 Yes
3/30/2020 4289.862305 -0.068369 3/30/2020 8281.1 -0.043781 Yes
3/31/2020 4250.070313 -0.009276 3/31/2020 8597.75 0.038238 Yes
4/1/2020 4208.494141 -0.009782 4/1/2020 8253.8 -0.040005 Yes
4/3/2020 3975.738037 -0.055306 4/3/2020 8083.8 -0.020597 Yes
4/7/2020 4513.054688 0.135149 4/7/2020 8792.2 0.087632 Yes
4/8/2020 4656.217285 0.031722 4/8/2020 8748.75 -0.004942 Yes
4/9/2020 5279.163574 0.133788 4/9/2020 9111.9 0.041509 Yes
4/13/2020 5236.05127 -0.008167 4/13/2020 8993.85 -0.012956 Yes
4/15/2020 5048.884766 -0.035746 4/15/2020 8925.3 -0.007622 Yes
4/16/2020 5085.059082 0.007165 4/16/2020 8992.8 0.007563 Yes
4/17/2020 5455.92334 0.072932 4/17/2020 9266.75 0.030463 Yes
4/20/2020 5283.821777 -0.031544 4/20/2020 9261.85 -0.000529 Yes
4/21/2020 4956.515625 -0.061945 4/21/2020 8981.45 -0.030275 Yes
4/22/2020 5134.663574 0.035942 4/22/2020 9187.3 0.022919 Yes
4/23/2020 5110.381836 -0.004729 4/23/2020 9313.9 0.01378 Yes
4/24/2020 5000.668457 -0.021469 4/24/2020 9154.4 -0.017125 Yes
4/27/2020 5011.273438 0.002121 4/27/2020 9282.3 0.013971 Yes
4/28/2020 5007.655762 -0.000722 4/28/2020 9380.9 0.010622 Yes
4/29/2020 5023.265625 0.003117 4/29/2020 9553.35 0.018383 Yes
4/30/2020 5311.026855 0.057286 4/30/2020 9859.9 0.032088 Yes
5/4/2020 4842.73877 -0.088173 5/4/2020 9293.5 -0.057445 Yes
5/5/2020 4786.79248 -0.011553 5/5/2020 9205.6 -0.009458 Yes
5/6/2020 4800.072754 0.002774 5/6/2020 9270.9 0.007094 Yes
5/7/2020 4706.960449 -0.019398 5/7/2020 9199.05 -0.00775 Yes
5/8/2020 4612.658691 -0.020035 5/8/2020 9251.5 0.005702 Yes
5/11/2020 4893.779785 0.060946 5/11/2020 9239.2 -0.001329 Yes
5/12/2020 4907.159668 0.002734 5/12/2020 9196.55 -0.004616 Yes
5/13/2020 4991.203613 0.017127 5/13/2020 9383.55 0.020334 Yes
5/14/2020 5068.458496 0.015478 5/14/2020 9142.75 -0.025662 Yes
5/15/2020 5054.930176 -0.002669 5/15/2020 9136.85 -0.000645 Yes
5/18/2020 4678.863281 -0.074396 5/18/2020 8823.25 -0.034323 Yes
5/19/2020 4762.460938 0.017867 5/19/2020 8879.1 0.00633 Yes
5/20/2020 4848.338867 0.018032 5/20/2020 9066.55 0.021111 Yes
5/21/2020 5005.079102 0.032329 5/21/2020 9106.25 0.004379 Yes
5/22/2020 5088.52832 0.016673 5/22/2020 9039.25 -0.007358 Yes
5/26/2020 5199.380859 0.021785 5/26/2020 9029.05 -0.001128 Yes
5/27/2020 5197.646484 -0.000334 5/27/2020 9314.95 0.031665 Yes
5/28/2020 5419.600586 0.042703 5/28/2020 9490.1 0.018803 Yes
5/29/2020 5560.780273 0.02605 5/29/2020 9580.3 0.009505 Yes
6/1/2020 5741.950684 0.03258 6/1/2020 9826.15 0.025662 Yes
6/2/2020 5639.373535 -0.017865 6/2/2020 9979.1 0.015566 Yes
6/3/2020 5573.862793 -0.011617 6/3/2020 10061.55 0.008262 Yes
6/4/2020 5639.472656 0.011771 6/4/2020 10029.1 -0.003225 Yes
6/5/2020 5694.973633 0.009842 6/5/2020 10142.15 0.011272 Yes
 6/8/2020 5683.674805 -0.001984 6/8/2020 10167.45 0.002495 Yes
6/9/2020 5611.820801 -0.012642 6/9/2020 10046.65 -0.011881 Yes
6/10/2020 5625.00293 0.002349 6/10/2020 10116.15 0.006918 Yes
6/11/2020 5377.776367 -0.043951 6/11/2020 9902 -0.021169 Yes
6/12/2020 5512.16748 0.02499 6/12/2020 9972.9 0.00716 Yes
6/15/2020 5426.934082 -0.015463 6/15/2020 9813.7 -0.015963 Yes
6/16/2020 5453.148926 0.004831 6/16/2020 9914 0.01022 Yes
6/17/2020 5675.151855 0.040711 6/17/2020 9881.15 -0.003313 Yes
6/18/2020 5663.456543 -0.002061 6/18/2020 10091.65 0.021303 Yes
6/19/2020 5844.775879 0.032016 6/19/2020 10244.4 0.015136 Yes
6/22/2020 5843.437988 -0.000229 6/22/2020 10311.2 0.006521 Yes
6/23/2020 5834.022461 -0.001611 6/23/2020 10471 0.015498 Yes
6/24/2020 5704.041992 -0.02228 6/24/2020 10305.3 -0.015825 Yes
6/25/2020 5710.929688 0.001208 6/25/2020 10288.9 -0.001591 Yes
6/26/2020 5703.595703 -0.001284 6/26/2020 10383 0.009146 Yes
6/29/2020 5628.075195 -0.013241 6/29/2020 10312.4 -0.0068 Yes
6/30/2020 5786.251953 0.028105 6/30/2020 10302.1 -0.000999 Yes
7/1/2020 5751.366211 -0.006029 7/1/2020 10430.05 0.01242 Yes
7/2/2020 5895.42041 0.025047 7/2/2020 10551.7 0.011663 Yes
7/3/2020 5879.216309 -0.002749 7/3/2020 10607.35 0.005274 Yes
7/6/2020 6069.008789 0.032282 7/6/2020 10763.65 0.014735 Yes
7/7/2020 6171.239258 0.016845 7/7/2020 10799.65 0.003345 Yes
7/8/2020 5990.514648 -0.029285 7/8/2020 10705.75 -0.008695 Yes
7/9/2020 5948.839844 -0.006957 7/9/2020 10813.45 0.01006 Yes
7/10/2020 5902.556152 -0.00778 7/10/2020 10768.05 -0.004199 Yes
7/13/2020 5935.459961 0.005575 7/13/2020 10802.7 0.003218 Yes
7/14/2020 5720.29541 -0.036251 7/14/2020 10607.35 -0.018083 Yes
7/15/2020 5749.582031 0.00512 7/15/2020 10618.2 0.001023 Yes
7/16/2020 5822.972168 0.012764 7/16/2020 10739.95 0.011466 Yes
7/17/2020 5866.728516 0.007514 7/17/2020 10901.7 0.015061 Yes
7/20/2020 5815.191895 -0.008785 7/20/2020 11022.2 0.011053 Yes
7/21/2020 6076.194336 0.044883 7/21/2020 11162.25 0.012706 Yes
7/22/2020 5949.880371 -0.020788 7/22/2020 11132.6 -0.002656 Yes
7/23/2020 6011.873047 0.010419 7/23/2020 11215.45 0.007442 Yes
7/24/2020 5947.20459 -0.010757 7/24/2020 11194.15 -0.001899 Yes
7/27/2020 5989.424316 0.007099 7/27/2020 11131.8 -0.00557 Yes
7/28/2020 6226.789551 0.039631 7/28/2020 11300.55 0.015159 Yes
7/29/2020 6130.009766 -0.015542 7/29/2020 11202.85 -0.008646 Yes
7/30/2020 6209.544434 0.012975 7/30/2020 11102.15 -0.008989 Yes
7/31/2020 6206.918457 -0.000423 7/31/2020 11073.45 -0.002585 Yes
8/3/2020 6110.238281 -0.015576 8/3/2020 10891.6 -0.016422 Yes
8/4/2020 6302.260742 0.031426 8/4/2020 11095.25 0.018698 Yes
8/5/2020 6468.069336 0.026309 8/5/2020 11101.65 0.000577 Yes
8/6/2020 6497.306152 0.00452 8/6/2020 11200.15 0.008873 Yes
8/7/2020 6619.45752 0.0188 8/7/2020 11214.05 0.001241 Yes
 8/10/2020 6549.982422 -0.010496 8/10/2020 11270.15 0.005003 Yes
8/11/2020 6589.92334 0.006098 8/11/2020 11322.5 0.004645 Yes
8/12/2020 6670.299805 0.012197 8/12/2020 11308.4 -0.001245 Yes
8/13/2020 6731.649902 0.009198 8/13/2020 11300.45 -0.000703 Yes
8/14/2020 6588.200195 -0.02131 8/14/2020 11178.4 -0.0108 Yes
8/17/2020 6768.399902 0.027352 8/17/2020 11247.1 0.006146 Yes
8/18/2020 6893.100098 0.018424 8/18/2020 11385.35 0.012292 Yes
8/19/2020 6990.299805 0.014101 8/19/2020 11408.4 0.002025 Yes
8/20/2020 6974.700195 -0.002232 8/20/2020 11312.2 -0.008432 Yes
8/21/2020 6973 -0.000244 8/21/2020 11371.6 0.005251 Yes
8/24/2020 7082.5 0.015703 8/24/2020 11466.45 0.008341 Yes
8/25/2020 7109.950195 0.003876 8/25/2020 11472.25 0.000506 Yes
8/26/2020 7008.649902 -0.014248 8/26/2020 11549.6 0.006742 Yes
8/27/2020 7098 0.012749 8/27/2020 11559.25 0.000836 Yes
8/28/2020 7104.100098 0.000859 8/28/2020 11647.6 0.007643 Yes
8/31/2020 6839.950195 -0.037183 8/31/2020 11387.5 -0.022331 Yes
9/1/2020 6905.649902 0.009605 9/1/2020 11470.25 0.007267 Yes
9/2/2020 6920.75 0.002187 9/2/2020 11535 0.005645 Yes
9/3/2020 7072.600098 0.021941 9/3/2020 11527.45 -0.000655 Yes
9/4/2020 7190.100098 0.016613 9/4/2020 11333.85 -0.016795 Yes
9/7/2020 7209.149902 0.002649 9/7/2020 11355.05 0.001871 Yes
9/8/2020 7224 0.00206 9/8/2020 11317.35 -0.00332 Yes
9/9/2020 7215.25 -0.001211 9/9/2020 11278 -0.003477 Yes
9/10/2020 7231.649902 0.002273 9/10/2020 11449.25 0.015184 Yes
9/11/2020 7193.600098 -0.005262 9/11/2020 11464.45 0.001328 Yes
9/14/2020 7128.850098 -0.009001 9/14/2020 11440.05 -0.002128 Yes
9/15/2020 7052.799805 -0.010668 9/15/2020 11521.8 0.007146 Yes
9/16/2020 7057.950195 0.00073 9/16/2020 11604.55 0.007182 Yes
9/17/2020 7085.850098 0.003953 9/17/2020 11516.1 -0.007622 Yes
9/18/2020 6964.75 -0.01709 9/18/2020 11504.95 -0.000968 Yes
9/21/2020 6626.950195 -0.048501 9/21/2020 11250.55 -0.022112 Yes
9/22/2020 6440.549805 -0.028128 9/22/2020 11153.65 -0.008613 Yes
9/23/2020 6501.299805 0.009432 9/23/2020 11131.85 -0.001955 Yes
9/24/2020 6297.700195 -0.031317 9/24/2020 10805.55 -0.029312 Yes
9/25/2020 6497.700195 0.031758 9/25/2020 11050.25 0.022646 Yes
9/28/2020 6703 0.031596 9/28/2020 11227.55 0.016045 Yes
9/29/2020 6742.75 0.00593 9/29/2020 11222.4 -0.000459 Yes
9/30/2020 6743.450195 0.000104 9/30/2020 11247.55 0.002241 Yes
10/1/2020 6796.299805 0.007837 10/1/2020 11416.95 0.015061 Yes
10/5/2020 6818.850098 0.003318 10/5/2020 11503.35 0.007568 Yes
10/6/2020 6892.399902 0.010786 10/6/2020 11662.4 0.013826 Yes
10/7/2020 7046.899902 0.022416 10/7/2020 11738.85 0.006555 Yes
10/8/2020 7079.850098 0.004676 10/8/2020 11834.6 0.008157 Yes
10/9/2020 7062.399902 -0.002465 10/9/2020 11914.2 0.006726 Yes
10/12/2020 7136.649902 0.010513 10/12/2020 11930.95 0.001406 Yes
10/13/2020 7032.899902 -0.014538 10/13/2020 11934.5 0.000298 Yes
10/14/2020 7002.350098 -0.004344 10/14/2020 11971.05 0.003063 Yes
10/15/2020 6892.600098 -0.015673 10/15/2020 11680.35 -0.024284 Yes
10/16/2020 6894.899902 0.000334 10/16/2020 11762.45 0.007029 Yes
10/19/2020 6851.950195 -0.006229 10/19/2020 11873.05 0.009403 Yes
10/20/2020 6844.600098 -0.001073 10/20/2020 11896.8 0.002 Yes
10/21/2020 6861.850098 0.00252 10/21/2020 11937.65 0.003434 Yes
10/22/2020 6811.549805 -0.00733 10/22/2020 11896.45 -0.003451 Yes
10/23/2020 7103.25 0.042824 10/23/2020 11930.35 0.00285 Yes
10/26/2020 7054.799805 -0.006821 10/26/2020 11767.75 -0.013629 Yes
10/27/2020 7158.399902 0.014685 10/27/2020 11889.4 0.010338 Yes
10/28/2020 7186.049805 0.003863 10/28/2020 11729.6 -0.013441 Yes
10/29/2020 7117.700195 -0.009511 10/29/2020 11670.8 -0.005013 Yes
10/30/2020 6965.149902 -0.021433 10/30/2020 11642.4 -0.002433 Yes
11/2/2020 6868.350098 -0.013898 11/2/2020 11669.15 0.002298 Yes
11/3/2020 6913.350098 0.006552 11/3/2020 11813.5 0.01237 Yes
11/4/2020 6954.049805 0.005887 11/4/2020 11908.5 0.008042 Yes
11/5/2020 7092.799805 0.019952 11/5/2020 12120.3 0.017786 Yes
11/6/2020 6907.600098 -0.026111 11/6/2020 12263.55 0.011819 Yes
11/9/2020 6872.149902 -0.005132 11/9/2020 12461.05 0.016105 Yes
11/10/2020 6793.450195 -0.011452 11/10/2020 12631.1 0.013647 Yes
11/11/2020 6857.350098 0.009406 11/11/2020 12749.15 0.009346 Yes
11/12/2020 6836.850098 -0.002989 11/12/2020 12690.8 -0.004577 Yes
11/13/2020 6809.25 -0.004037 11/13/2020 12719.95 0.002297 Yes
11/18/2020 7054.299805 0.035988 11/18/2020 12938.25 0.017162 Yes
11/19/2020 6963.299805 -0.0129 11/19/2020 12771.7 -0.012873 Yes
11/20/2020 6965.850098 0.000366 11/20/2020 12859.05 0.006839 Yes
11/23/2020 6987.75 0.003144 11/23/2020 12926.45 0.005241 Yes
11/24/2020 7158.399902 0.024421 11/24/2020 13055.15 0.009956 Yes
11/25/2020 7055.700195 -0.014347 11/25/2020 12858.4 -0.015071 Yes
11/26/2020 6994.25 -0.008709 11/26/2020 12987 0.010001 Yes
11/27/2020 7035.799805 0.005941 11/27/2020 12968.95 -0.00139 Yes
12/1/2020 7101.700195 0.009366 12/1/2020 13109.05 0.010803 Yes
12/2/2020 7206.5 0.014757 12/2/2020 13113.75 0.000359 Yes
12/3/2020 7739.100098 0.073906 12/3/2020 13133.9 0.001537 Yes
12/4/2020 7803.149902 0.008276 12/4/2020 13258.55 0.009491 Yes
12/7/2020 7743.399902 -0.007657 12/7/2020 13355.75 0.007331 Yes
12/8/2020 7762.700195 0.002492 12/8/2020 13392.95 0.002785 Yes
12/9/2020 7709.25 -0.006886 12/9/2020 13529.1 0.010166 Yes
12/10/2020 7736 0.00347 12/10/2020 13478.3 -0.003755 Yes
12/11/2020 7733.549805 -0.000317 12/11/2020 13513.85 0.002638 Yes
12/14/2020 7696.799805 -0.004752 12/14/2020 13558.15 0.003278 Yes
12/15/2020 7765.25 0.008893 12/15/2020 13567.85 0.000715 Yes
12/16/2020 7796.350098 0.004005 12/16/2020 13682.7 0.008465 Yes
12/17/2020 7694 -0.013128 12/17/2020 13740.7 0.004239 Yes
12/18/2020 7559.75 -0.017449 12/18/2020 13760.55 0.001445 Yes
12/21/2020 7376.100098 -0.024293 12/21/2020 13328.4 -0.031405 Yes
12/22/2020 7395.399902 0.002617 12/22/2020 13466.3 0.010346 Yes
12/23/2020 7449.950195 0.007376 12/23/2020 13601.1 0.01001 Yes
12/24/2020 7446.049805 -0.000524 12/24/2020 13749.25 0.010893 Yes
12/28/2020 7483 0.004962 12/28/2020 13873.2 0.009015 Yes
12/29/2020 7452.350098 -0.004096 12/29/2020 13932.6 0.004282 Yes
12/30/2020 7612.899902 0.021544 12/30/2020 13981.95 0.003542 Yes
12/31/2020 7649.600098 0.004821 12/31/2020 13981.75 -1.43E-05 Yes
1/4/2021 7702.299805 0.006889 1/4/2021 14132.9 0.010811 Yes
1/5/2021 7655.450195 -0.006083 1/5/2021 14199.5 0.004712 Yes
1/6/2021 7628.600098 -0.003507 1/6/2021 14146.25 -0.00375 Yes
1/7/2021 7566.049805 -0.008199 1/7/2021 14137.35 -0.000629 Yes
1/8/2021 8014.899902 0.059324 1/8/2021 14347.25 0.014847 Yes
1/11/2021 8232.75 0.027181 1/11/2021 14484.75 0.009584 Yes
1/12/2021 8188.049805 -0.00543 1/12/2021 14563.45 0.005433 Yes
1/13/2021 8139.850098 -0.005887 1/13/2021 14564.85 9.609E-05 Yes
1/14/2021 8149.450195 0.001179 1/14/2021 14595.6 0.002111 Yes
1/15/2021 8024.75 -0.015302 1/15/2021 14433.7 -0.011092 Yes
1/18/2021 7830.649902 -0.024188 1/18/2021 14281.3 -0.010559 Yes
1/19/2021 7922.600098 0.011742 1/19/2021 14521.15 0.016795 Yes
1/20/2021 8144.950195 0.028065 1/20/2021 14644.7 0.008508 Yes
1/21/2021 8076.75 -0.008373 1/21/2021 14590.35 -0.003711 Yes
1/22/2021 8048.850098 -0.003454 1/22/2021 14371.9 -0.014972 Yes
1/25/2021 7981.5 -0.008368 1/25/2021 14238.9 -0.009254 Yes
1/27/2021 7870.899902 -0.013857 1/27/2021 13967.5 -0.01906 Yes
1/28/2021 7588.5 -0.035879 1/28/2021 13817.55 -0.010736 Yes
1/29/2021 7206.649902 -0.05032 1/29/2021 13634.6 -0.01324 Yes
2/1/2021 7399.799805 0.026802 2/1/2021 14281.2 0.047424 Yes
2/2/2021 7654.700195 0.034447 2/2/2021 14647.85 0.025674 Yes
2/3/2021 7589.200195 -0.008557 2/3/2021 14789.95 0.009701 Yes
2/4/2021 7640 0.006694 2/4/2021 14895.65 0.007147 Yes
2/5/2021 7494.149902 -0.01909 2/5/2021 14924.25 0.00192 Yes
2/8/2021 7574.600098 0.010735 2/8/2021 15115.8 0.012835 Yes
2/9/2021 7627.049805 0.006924 2/9/2021 15109.3 -0.00043 Yes
2/10/2021 7621.700195 -0.000701 2/10/2021 15106.5 -0.000185 Yes
2/11/2021 7667.350098 0.005989 2/11/2021 15173.3 0.004422 Yes
2/12/2021 7568.5 -0.012892 2/12/2021 15163.3 -0.000659 Yes
2/15/2021 7596.649902 0.003719 2/15/2021 15314.7 0.009985 Yes
2/16/2021 7697.049805 0.013216 2/16/2021 15313.45 -8.16E-05 Yes
2/17/2021 7503.200195 -0.025185 2/17/2021 15208.9 -0.006827 Yes
2/18/2021 7497.549805 -0.000753 2/18/2021 15118.95 -0.005914 Yes
2/19/2021 7323 -0.023281 2/19/2021 14981.75 -0.009075 Yes
2/22/2021 7086.450195 -0.032302 2/22/2021 14675.7 -0.020428 Yes
2/23/2021 6970.5 -0.016362 2/23/2021 14707.8 0.002187 Yes
2/24/2021 6952.950195 -0.002518 2/24/2021 14982 0.018643 Yes
2/25/2021 6930.350098 -0.00325 2/25/2021 15097.35 0.007699 Yes
2/26/2021 6866.149902 -0.009264 2/26/2021 14529.15 -0.037636 Yes
3/1/2021 7015 0.021679 3/1/2021 14761.55 0.015995 Yes
3/2/2021 7214.100098 0.028382 3/2/2021 14919.1 0.010673 Yes
3/3/2021 7124.700195 -0.012392 3/3/2021 15245.6 0.021885 Yes
3/4/2021 7131.600098 0.000968 3/4/2021 15080.75 -0.010813 Yes
3/5/2021 7249 0.016462 3/5/2021 14938.1 -0.009459 Yes
3/8/2021 7259.5 0.001448 3/8/2021 14956.2 0.001212 Yes
3/9/2021 7301.549805 0.005792 3/9/2021 15098.4 0.009508 Yes
3/10/2021 7272.100098 -0.004033 3/10/2021 15174.8 0.00506 Yes
3/12/2021 7096.200195 -0.024188 3/12/2021 15030.95 -0.00948 Yes
3/15/2021 7089.299805 -0.000972 3/15/2021 14929.5 -0.006749 Yes
3/16/2021 7150.299805 0.008605 3/16/2021 14910.45 -0.001276 Yes
3/17/2021 7064.649902 -0.011979 3/17/2021 14721.3 -0.012686 Yes
3/18/2021 7113.75 0.00695 3/18/2021 14557.85 -0.011103 Yes
3/19/2021 7113.549805 -2.81E-05 3/19/2021 14744 0.012787 Yes
3/22/2021 7101.25 -0.001729 3/22/2021 14736.4 -0.000515 Yes
3/23/2021 7186.25 0.01197 3/23/2021 14814.75 0.005317 Yes
3/24/2021 7066.200195 -0.016705 3/24/2021 14549.4 -0.017911 Yes
3/25/2021 6786.850098 -0.039533 3/25/2021 14324.9 -0.01543 Yes
3/26/2021 6784.450195 -0.000354 3/26/2021 14507.3 0.012733 Yes

Daily Average Returns -0.000143 0.000447

Annual Average Returns -5% 17%
ecific company. Further, beta values
mptions and share prices from 30th Step 1: Taken from 2018 to till now
om & RBI’s website for this purpose Step 2: Massage the data well- Match th
y and write your interpretation for ke
and delete the cells of "null" valu
r different sources of finance along
Step 3: Calculate Returns
ompany using data from financial
ssumptions as regards to interest on Step 4: Calculate Average daily returns
ement. Assume a tax rate of 25%. Step 5: Calculate Average Annual Return
Step 6: Calculate Beta

Beta Coefficient
Spreadsheet Form1.1372506940197
Formulae Method
Numerator 0.0002097512764
Denominator 0.0001844371496
1.1372506940197

CAPM
Inputs
Rf 6%
Rm 17%
Beta 1.13725069402
CAPM 19%

WACC
Specific Capital Specific Cost Specific Weights
Equity 19% 94%
Debt 9.00% 6%
18%

Capital Structure Equity Debt

Equity Debt Ratio
2020 494130 28901 94.474% 5.526%
om 2018 to till now
the data well- Match the dates
te the cells of "null" values

e Average daily returns

e Average Annual Returns
Maruti
Date Adj Close
1/30/2018 9192.069
1/31/2018 9132.672 -0.006462
2/1/2018 9029.098 -0.011341
2/2/2018 8634.151 -0.043742
2/5/2018 8720.584 0.010011
2/6/2018 8628.389 -0.010572
2/7/2018 8568.081 -0.006989
2/8/2018 8672.662 0.012206
2/9/2018 8581.813 -0.010475
2/12/2018 8756.357 0.020339
2/14/2018 8644.716 -0.01275
2/15/2018 8662.628 0.002072
2/16/2018 8486.595 -0.020321
2/19/2018 8378.938 -0.012686
2/20/2018 8376.826 -0.000252
2/21/2018 8434.543 0.00689
2/22/2018 8291.738 -0.016931
2/23/2018 8353.921 0.007499
2/26/2018 8648.317 0.035241
2/27/2018 8538.693 -0.012676
2/28/2018 8500.038 -0.004527
3/1/2018 8521.646 0.002542
3/5/2018 8446.403 -0.00883
3/6/2018 8274.884 -0.020307
3/7/2018 8335.003 0.007265
3/8/2018 8383.26 0.00579
3/9/2018 8317.236 -0.007876
3/12/2018 8461.001 0.017285
3/13/2018 8408.901 -0.006158
3/14/2018 8495.573 0.010307
3/15/2018 8487.17 -0.000989
3/16/2018 8332.554 -0.018218
3/19/2018 8425.66 0.011174
3/20/2018 8453.415 0.003294
3/21/2018 8522.8 0.008208
3/22/2018 8351.76 -0.020069
3/23/2018 8266.001 -0.010268
3/26/2018 8417.784 0.018362
Nifty
Date Adj Close
1/30/2018 11049.65
1/31/2018 11027.7 -0.001987
2/1/2018 11016.9 -0.000979
2/2/2018 10760.6 -0.023264
2/5/2018 10666.55 -0.00874
2/6/2018 10498.25 -0.015778
2/7/2018 10476.7 -0.002053
2/8/2018 10576.85 0.009559
2/9/2018 10454.95 -0.011525
2/12/2018 10539.75 0.008111
2/14/2018 10500.9 -0.003686
2/15/2018 10545.5 0.004247
2/16/2018 10452.3 -0.008838
2/19/2018 10378.4 -0.00707
2/20/2018 10360.4 -0.001734
2/21/2018 10397.45 0.003576
2/22/2018 10382.7 -0.001419
2/23/2018 10491.05 0.010436
2/26/2018 10582.6 0.008726
2/27/2018 10554.3 -0.002674
2/28/2018 10492.85 -0.005822
3/1/2018 10458.35 -0.003288
3/5/2018 10358.85 -0.009514
3/6/2018 10249.25 -0.01058
3/7/2018 10154.2 -0.009274
3/8/2018 10242.65 0.008711
3/9/2018 10226.85 -0.001543
3/12/2018 10421.4 0.019024
3/13/2018 10426.85 0.000523
3/14/2018 10410.9 -0.00153
3/15/2018 10360.15 -0.004875
3/16/2018 10195.15 -0.015926
3/19/2018 10094.25 -0.009897
3/20/2018 10124.35 0.002982
3/21/2018 10155.25 0.003052
3/22/2018 10114.75 -0.003988
3/23/2018 9998.05 -0.011538
3/26/2018 10130.65 0.013263
3/27/2018 8501.335 0.009926 3/27/2018 10184.15 0.005281
3/28/2018 8509.787 0.000994 3/28/2018 10113.7 -0.006918
4/2/2018 8651.055 0.016601 4/2/2018 10211.8 0.0097
4/3/2018 8668.581 0.002026 4/3/2018 10245 0.003251
4/4/2018 8656.145 -0.001435 4/4/2018 10128.4 -0.011381
4/5/2018 8770.522 0.013213 4/5/2018 10325.15 0.019426
4/6/2018 8841.205 0.008059 4/6/2018 10331.6 0.000625
4/9/2018 8924.228 0.00939 4/9/2018 10379.35 0.004622
4/10/2018 8905.788 -0.002066 4/10/2018 10402.25 0.002206
4/11/2018 8933.688 0.003133 4/11/2018 10417.15 0.001432
4/12/2018 8839.523 -0.01054 4/12/2018 10458.65 0.003984
4/13/2018 8762.216 -0.008746 4/13/2018 10480.6 0.002099
4/16/2018 8865.981 0.011842 4/16/2018 10528.35 0.004556
4/17/2018 8797.173 -0.007761 4/17/2018 10548.7 0.001933
4/18/2018 8759.862 -0.004241 4/18/2018 10526.2 -0.002133
4/19/2018 8717.752 -0.004807 4/19/2018 10565.3 0.003715
4/20/2018 8667.188 -0.0058 4/20/2018 10564.05 -0.000118
4/23/2018 8705.458 0.004415 4/23/2018 10584.7 0.001955
4/24/2018 8705.266 -2.21E-05 4/24/2018 10614.35 0.002801
4/25/2018 8580.372 -0.014347 4/25/2018 10570.55 -0.004126
4/26/2018 8591.753 0.001326 4/26/2018 10617.8 0.00447
4/27/2018 8435.119 -0.018231 4/27/2018 10692.3 0.007017
4/30/2018 8465.466 0.003598 4/30/2018 10739.35 0.0044
5/2/2018 8397.809 -0.007992 5/2/2018 10718.05 -0.001983
5/3/2018 8408.806 0.00131 5/3/2018 10679.65 -0.003583
5/4/2018 8334.139 -0.00888 5/4/2018 10618.25 -0.005749
5/7/2018 8397.04 0.007547 5/7/2018 10715.5 0.009159
5/8/2018 8427.293 0.003603 5/8/2018 10717.8 0.000215
5/9/2018 8372.695 -0.006479 5/9/2018 10741.7 0.00223
5/10/2018 8359.828 -0.001537 5/10/2018 10716.55 -0.002341
5/11/2018 8403.379 0.00521 5/11/2018 10806.5 0.008394
5/14/2018 8361.796 -0.004948 5/14/2018 10806.6 9.218E-06
5/15/2018 8380.618 0.002251 5/15/2018 10801.85 -0.00044
5/16/2018 8350.849 -0.003552 5/16/2018 10741.1 -0.005624
5/17/2018 8352.674 0.000219 5/17/2018 10682.7 -0.005437
5/18/2018 8173.52 -0.021449 5/18/2018 10596.4 -0.008078
5/21/2018 8094.338 -0.009688 5/21/2018 10516.7 -0.007521
5/22/2018 8221.248 0.015679 5/22/2018 10536.7 0.001902
5/23/2018 8160.507 -0.007388 5/23/2018 10430.35 -0.010093
5/24/2018 8077.292 -0.010197 5/24/2018 10513.85 0.008005
5/25/2018 8209.244 0.016336 5/25/2018 10605.15 0.008684
5/28/2018 8364.005 0.018852 5/28/2018 10688.65 0.007874
5/29/2018 8369.384 0.000643 5/29/2018 10633.3 -0.005178
5/30/2018 8247.707 -0.014538 5/30/2018 10614.35 -0.001782
5/31/2018 8198.729 -0.005938 5/31/2018 10736.15 0.011475
 6/1/2018 8459.608 0.03182 6/1/2018 10696.2 -0.003721
6/4/2018 8402.946 -0.006698 6/4/2018 10628.5 -0.006329
6/5/2018 8461.097 0.00692 6/5/2018 10593.15 -0.003326
6/6/2018 8491.779 0.003626 6/6/2018 10684.65 0.008638
6/7/2018 8557.948 0.007792 6/7/2018 10768.35 0.007834
6/8/2018 8578.309 0.002379 6/8/2018 10767.65 -6.49E-05
6/11/2018 8664.933 0.010098 6/11/2018 10786.95 0.001792
6/12/2018 8659.266 -0.000654 6/12/2018 10842.85 0.005182
6/13/2018 8611.824 -0.005479 6/13/2018 10856.7 0.001277
6/14/2018 8602.845 -0.001043 6/14/2018 10808.05 -0.004481
6/15/2018 8596.697 -0.000715 6/15/2018 10817.7 0.000893
6/18/2018 8617.683 0.002441 6/18/2018 10799.85 -0.00165
6/19/2018 8511.227 -0.012353 6/19/2018 10710.45 -0.008278
6/20/2018 8593.529 0.00967 6/20/2018 10772.05 0.005751
6/21/2018 8511.659 -0.009527 6/21/2018 10741.1 -0.002873
6/22/2018 8523.04 0.001337 6/22/2018 10821.85 0.007518
6/25/2018 8444.387 -0.009228 6/25/2018 10762.45 -0.005489
6/26/2018 8577.25 0.015734 6/26/2018 10769.15 0.000623
6/27/2018 8545.512 -0.0037 6/27/2018 10671.4 -0.009077
6/28/2018 8423.547 -0.014272 6/28/2018 10589.1 -0.007712
6/29/2018 8475.694 0.006191 6/29/2018 10714.3 0.011823
7/2/2018 8471.324 -0.000516 7/2/2018 10657.3 -0.00532
7/3/2018 8619.315 0.01747 7/3/2018 10699.9 0.003997
7/4/2018 8855.226 0.02737 7/4/2018 10769.9 0.006542
7/5/2018 8976.47 0.013692 7/5/2018 10749.75 -0.001871
7/6/2018 8948.091 -0.003161 7/6/2018 10772.65 0.00213
7/9/2018 9003.217 0.006161 7/9/2018 10852.9 0.007449
7/10/2018 9153.127 0.016651 7/10/2018 10947.25 0.008693
7/11/2018 9012.628 -0.01535 7/11/2018 10948.3 9.59E-05
7/12/2018 8976.424 -0.004017 7/12/2018 11023.2 0.006841
7/13/2018 9057.14 0.008992 7/13/2018 11018.9 -0.00039
7/16/2018 9013.204 -0.004851 7/16/2018 10936.85 -0.007446
7/17/2018 9070.922 0.006404 7/17/2018 11008.05 0.00651
7/18/2018 8995.438 -0.008322 7/18/2018 10980.45 -0.002507
7/19/2018 9016.853 0.002381 7/19/2018 10957.1 -0.002127
7/20/2018 9026.313 0.001049 7/20/2018 11010.2 0.004846
7/23/2018 9316.387 0.032136 7/23/2018 11084.75 0.006771
7/24/2018 9442.626 0.01355 7/24/2018 11134.3 0.00447
7/25/2018 9372.04 -0.007475 7/25/2018 11132 -0.000207
7/26/2018 9023.72 -0.037166 7/26/2018 11167.3 0.003171
7/27/2018 8941.273 -0.009137 7/27/2018 11278.35 0.009944
7/30/2018 9009.939 0.00768 7/30/2018 11319.55 0.003653
7/31/2018 9143.092 0.014778 7/31/2018 11356.5 0.003264
8/1/2018 8971.235 -0.018796 8/1/2018 11346.2 -0.000907
8/2/2018 8779.934 -0.021324 8/2/2018 11244.7 -0.008946
 8/3/2018 8822.766 0.004878 8/3/2018 11360.8 0.010325
8/6/2018 8918.226 0.01082 8/6/2018 11387.1 0.002315
8/7/2018 9038.365 0.013471 8/7/2018 11389.45 0.000206
8/8/2018 8842.357 -0.021686 8/8/2018 11450 0.005316
8/9/2018 8783.439 -0.006663 8/9/2018 11470.7 0.001808
8/10/2018 8785.552 0.00024 8/10/2018 11429.5 -0.003592
8/13/2018 8720.824 -0.007367 8/13/2018 11355.75 -0.006453
8/14/2018 8848.476 0.014638 8/14/2018 11435.1 0.006988
8/16/2018 8993.089 0.016343 8/16/2018 11385.05 -0.004377
8/17/2018 8945.731 -0.005266 8/17/2018 11470.75 0.007527
8/20/2018 8869.734 -0.008495 8/20/2018 11551.75 0.007061
8/21/2018 8907.808 0.004292 8/21/2018 11570.9 0.001658
8/23/2018 9015.326 0.01207 8/23/2018 11582.75 0.001024
8/24/2018 8957.168 -0.006451 8/24/2018 11557.1 -0.002215
8/27/2018 9036.782 0.008888 8/27/2018 11691.95 0.011668
8/28/2018 9215.362 0.019761 8/28/2018 11738.5 0.003981
8/29/2018 9156.861 -0.006348 8/29/2018 11691.9 -0.00397
8/30/2018 8998.221 -0.017325 8/30/2018 11676.8 -0.001292
8/31/2018 8891.289 -0.011884 8/31/2018 11680.5 0.000317
9/3/2018 8701.419 -0.021355 9/3/2018 11582.35 -0.008403
9/4/2018 8668.527 -0.00378 9/4/2018 11520.3 -0.005357
9/5/2018 8695.504 0.003112 9/5/2018 11476.95 -0.003763
9/6/2018 8562.326 -0.015316 9/6/2018 11536.9 0.005224
9/7/2018 8522.594 -0.00464 9/7/2018 11589.1 0.004525
9/10/2018 8444.593 -0.009152 9/10/2018 11438.1 -0.013029
9/11/2018 8325.002 -0.014162 9/11/2018 11287.5 -0.013166
9/12/2018 8302.423 -0.002712 9/12/2018 11369.9 0.0073
9/14/2018 8432.18 0.015629 9/14/2018 11515.2 0.012779
9/17/2018 8345.283 -0.010305 9/17/2018 11377.75 -0.011936
9/18/2018 8209.76 -0.01624 9/18/2018 11278.9 -0.008688
9/19/2018 8025.217 -0.022478 9/19/2018 11234.35 -0.00395
9/21/2018 7858.855 -0.02073 9/21/2018 11143.1 -0.008122
9/24/2018 7617.327 -0.030733 9/24/2018 10967.4 -0.015768
9/25/2018 7819.073 0.026485 9/25/2018 11067.45 0.009122
9/26/2018 7665.71 -0.019614 9/26/2018 11053.8 -0.001233
9/27/2018 7382.738 -0.036914 9/27/2018 10977.55 -0.006898
9/28/2018 7182.264 -0.027155 9/28/2018 10930.45 -0.004291
10/1/2018 7295.648 0.015787 10/1/2018 11008.3 0.007122
10/3/2018 7082.612 -0.0292 10/3/2018 10858.25 -0.013631
10/4/2018 7036.427 -0.006521 10/4/2018 10599.25 -0.023853
10/5/2018 6748.666 -0.040896 10/5/2018 10316.45 -0.026681
10/8/2018 6734.396 -0.002115 10/8/2018 10348.05 0.003063
10/9/2018 6548.386 -0.027621 10/9/2018 10301.05 -0.004542
10/10/2018 6828.328 0.04275 ### 10460.1 0.01544
10/11/2018 6720.466 -0.015796 ### 10234.65 -0.021553
10/12/2018 7122.883 0.059879 ### 10472.5 0.02324
10/15/2018 7020.055 -0.014436 ### 10512.5 0.00382
10/16/2018 6989.656 -0.00433 ### 10584.75 0.006873
10/17/2018 6730.338 -0.0371 ### 10453.05 -0.012442
10/19/2018 6604.101 -0.018756 ### 10303.55 -0.014302
10/22/2018 6658.594 0.008251 ### 10245.25 -0.005658
10/23/2018 6618.616 -0.006004 ### 10146.8 -0.009609
10/24/2018 6615.683 -0.000443 ### 10224.75 0.007682
10/25/2018 6571.601 -0.006663 ### 10124.9 -0.009765
10/26/2018 6565.833 -0.000878 ### 10030 -0.009373
10/29/2018 6645.398 0.012118 ### 10250.85 0.022019
10/30/2018 6545.991 -0.014959 ### 10198.4 -0.005117
10/31/2018 6467.209 -0.012035 ### 10386.6 0.018454
11/1/2018 6560.409 0.014411 11/1/2018 10380.45 -0.000592
11/2/2018 6974.555 0.063128 11/2/2018 10553 0.016623
11/5/2018 7015.413 0.005858 11/5/2018 10524 -0.002748
11/6/2018 6915.468 -0.014246 11/6/2018 10530 0.00057
11/7/2018 6967.175 0.007477 11/7/2018 10598.4 0.006496
11/9/2018 7119.266 0.02183 11/9/2018 10585.2 -0.001245
11/12/2018 6927.979 -0.026869 ### 10482.2 -0.009731
11/13/2018 6989.217 0.008839 ### 10582.5 0.009569
11/14/2018 7202.887 0.030571 ### 10576.3 -0.000586
11/15/2018 7309.674 0.014826 ### 10616.7 0.00382
11/16/2018 7175.666 -0.018333 ### 10682.2 0.00617
11/19/2018 7244.527 0.009597 ### 10763.4 0.007601
11/20/2018 7168.579 -0.010483 ### 10656.2 -0.00996
11/21/2018 7257.087 0.012347 ### 10600.05 -0.005269
11/22/2018 7243.989 -0.001805 ### 10526.75 -0.006915
11/26/2018 7384.352 0.019376 ### 10628.6 0.009675
11/27/2018 7475.156 0.012297 ### 10685.6 0.005363
11/28/2018 7403.412 -0.009598 ### 10728.85 0.004048
11/29/2018 7376.581 -0.003624 ### 10858.7 0.012103
11/30/2018 7488.841 0.015218 ### 10876.75 0.001662
12/3/2018 7604.522 0.015447 12/3/2018 10883.75 0.000644
12/4/2018 7547.537 -0.007494 12/4/2018 10869.5 -0.001309
12/5/2018 7383.716 -0.021705 12/5/2018 10782.9 -0.007967
12/6/2018 7047.131 -0.045585 12/6/2018 10601.15 -0.016855
12/7/2018 7149.03 0.01446 12/7/2018 10693.7 0.00873
12/10/2018 7184.756 0.004997 ### 10488.45 -0.019194
12/11/2018 7140.624 -0.006142 ### 10549.15 0.005787
12/12/2018 7303.37 0.022792 ### 10737.6 0.017864
12/13/2018 7497.54 0.026586 ### 10791.55 0.005024
12/14/2018 7489.378 -0.001089 ### 10805.45 0.001288
12/17/2018 7559.657 0.009384 ### 10888.35 0.007672
12/18/2018 7597.094 0.004952 ### 10908.7 0.001869
12/19/2018 7757.053 0.021055 ### 10967.3 0.005372
12/20/2018 7631.011 -0.016249 ### 10951.7 -0.001422
12/21/2018 7366.366 -0.03468 ### 10754 -0.018052
12/24/2018 7359.377 -0.000949 ### 10663.5 -0.008415
12/26/2018 7398.427 0.005306 ### 10729.85 0.006222
12/27/2018 7330.836 -0.009136 ### 10779.8 0.004655
12/28/2018 7336.31 0.000747 ### 10859.9 0.007431
12/31/2018 7297.163 -0.005336 ### 10862.55 0.000244
1/2/2019 7103.969 -0.026475 1/2/2019 10792.5 -0.006449
1/3/2019 7041.511 -0.008792 1/3/2019 10672.25 -0.011142
1/4/2019 7071.372 0.004241 1/4/2019 10727.35 0.005163
1/7/2019 7196.045 0.017631 1/7/2019 10771.8 0.004144
1/8/2019 7271.749 0.01052 1/8/2019 10802.15 0.002818
1/9/2019 7323.945 0.007178 1/9/2019 10855.15 0.004906
1/10/2019 7224.929 -0.013519 1/10/2019 10821.6 -0.003091
1/11/2019 7155.432 -0.009619 1/11/2019 10794.95 -0.002463
1/14/2019 7241.644 0.012048 1/14/2019 10737.6 -0.005313
1/15/2019 7189.301 -0.007228 1/15/2019 10886.8 0.013895
1/16/2019 7145.414 -0.006105 1/16/2019 10890.3 0.000321
1/17/2019 7170.827 0.003557 1/17/2019 10905.2 0.001368
1/18/2019 7192.038 0.002958 1/18/2019 10906.95 0.00016
1/21/2019 7045.86 -0.020325 1/21/2019 10961.85 0.005033
1/22/2019 6909.457 -0.019359 1/22/2019 10922.75 -0.003567
1/23/2019 6886.535 -0.003317 1/23/2019 10831.5 -0.008354
1/24/2019 6881.844 -0.000681 1/24/2019 10849.8 0.001689
1/25/2019 6366.531 -0.07488 1/25/2019 10780.55 -0.006383
1/28/2019 6364.234 -0.000361 1/28/2019 10661.55 -0.011038
1/29/2019 6379.776 0.002442 1/29/2019 10652.2 -0.000877
1/30/2019 6400.596 0.003263 1/30/2019 10651.8 -3.76E-05
1/31/2019 6491.4 0.014187 1/31/2019 10830.95 0.016819
2/1/2019 6805.309 0.048358 2/1/2019 10893.65 0.005789
2/4/2019 6830.625 0.00372 2/4/2019 10912.25 0.001707
2/5/2019 6933.648 0.015083 2/5/2019 10934.35 0.002025
2/6/2019 7021.424 0.012659 2/6/2019 11062.45 0.011715
2/7/2019 7137.887 0.016587 2/7/2019 11069.4 0.000628
2/8/2019 6973.382 -0.023047 2/8/2019 10943.6 -0.011365
2/11/2019 7016.047 0.006118 2/11/2019 10888.8 -0.005007
2/12/2019 7000.995 -0.002145 2/12/2019 10831.4 -0.005271
2/14/2019 6859.264 -0.020244 2/14/2019 10746.05 -0.00788
2/15/2019 6773.786 -0.012462 2/15/2019 10724.4 -0.002015
2/18/2019 6688.406 -0.012604 2/18/2019 10640.95 -0.007781
2/19/2019 6651.116 -0.005575 2/19/2019 10604.35 -0.00344
2/20/2019 6695.443 0.006665 2/20/2019 10735.45 0.012363
2/21/2019 6648.184 -0.007058 2/21/2019 10789.85 0.005067
2/22/2019 6756.534 0.016298 2/22/2019 10791.65 0.000167
2/25/2019 6768.752 0.001808 2/25/2019 10880.1 0.008196
2/26/2019 6748.617 -0.002975 2/26/2019 10835.3 -0.004118
2/27/2019 6811.369 0.009298 2/27/2019 10806.65 -0.002644
2/28/2019 6675.699 -0.019918 2/28/2019 10792.5 -0.001309
3/1/2019 6778.771 0.01544 3/1/2019 10863.5 0.006579
3/5/2019 6957.254 0.02633 3/5/2019 10987.45 0.01141
3/6/2019 6897.776 -0.008549 3/6/2019 11053 0.005966
3/7/2019 6870.554 -0.003947 3/7/2019 11058.2 0.00047
3/8/2019 6810.587 -0.008728 3/8/2019 11035.4 -0.002062
3/11/2019 6922.212 0.01639 3/11/2019 11168.05 0.01202
3/12/2019 6995.815 0.010633 3/12/2019 11301.2 0.011922
3/13/2019 6931.156 -0.009243 3/13/2019 11341.7 0.003584
3/14/2019 6926.513 -0.00067 3/14/2019 11343.25 0.000137
3/15/2019 6924.265 -0.000324 3/15/2019 11426.85 0.00737
3/18/2019 6738.549 -0.026821 3/18/2019 11462.2 0.003094
3/19/2019 6671.301 -0.00998 3/19/2019 11532.4 0.006124
3/20/2019 6523.07 -0.022219 3/20/2019 11521.05 -0.000984
3/22/2019 6404.945 -0.018109 3/22/2019 11456.9 -0.005568
3/25/2019 6375.524 -0.004594 3/25/2019 11354.25 -0.00896
3/26/2019 6437.201 0.009674 3/26/2019 11483.25 0.011361
3/27/2019 6371.027 -0.01028 3/27/2019 11445.05 -0.003327
3/28/2019 6447.513 0.012005 3/28/2019 11570 0.010917
4/1/2019 6686.451 0.037059 4/1/2019 11669.15 0.00857
4/2/2019 6734.346 0.007163 4/2/2019 11713.2 0.003775
4/3/2019 6913.416 0.02659 4/3/2019 11643.95 -0.005912
4/4/2019 6952.709 0.005684 4/4/2019 11598 -0.003946
4/5/2019 6947.431 -0.000759 4/5/2019 11665.95 0.005859
4/8/2019 6968.69 0.00306 4/8/2019 11604.5 -0.005267
4/9/2019 7053.826 0.012217 4/9/2019 11671.95 0.005812
4/10/2019 7024.307 -0.004185 4/10/2019 11584.3 -0.007509
4/11/2019 7025.773 0.000209 4/11/2019 11596.7 0.00107
4/12/2019 7177.278 0.021564 4/12/2019 11643.45 0.004031
4/15/2019 7186.71 0.001314 4/15/2019 11690.35 0.004028
4/16/2019 7290.369 0.014424 4/16/2019 11787.15 0.00828
4/18/2019 7279.52 -0.001488 4/18/2019 11752.8 -0.002914
4/22/2019 7156.166 -0.016945 4/22/2019 11594.45 -0.013473
4/23/2019 6889.957 -0.0372 4/23/2019 11575.95 -0.001596
4/24/2019 6858.483 -0.004568 4/24/2019 11726.15 0.012975
4/25/2019 6749.545 -0.015884 4/25/2019 11641.8 -0.007193
4/26/2019 6688.553 -0.009037 4/26/2019 11754.65 0.009694
4/30/2019 6516.081 -0.025786 4/30/2019 11748.15 -0.000553
5/2/2019 6532.551 0.002528 5/2/2019 11724.75 -0.001992
5/3/2019 6558.698 0.004003 5/3/2019 11712.25 -0.001066
5/6/2019 6558.356 -5.22E-05 5/6/2019 11598.25 -0.009733
5/7/2019 6550.878 -0.00114 5/7/2019 11497.9 -0.008652
 5/8/2019 6500.198 -0.007736 5/8/2019 11359.45 -0.012041
5/9/2019 6475.566 -0.003789 5/9/2019 11301.8 -0.005075
5/10/2019 6482.066 0.001004 5/10/2019 11278.9 -0.002026
5/13/2019 6396.197 -0.013247 5/13/2019 11148.2 -0.011588
5/14/2019 6427.915 0.004959 5/14/2019 11222.05 0.006624
5/15/2019 6347.324 -0.012538 5/15/2019 11157 -0.005797
5/16/2019 6333.542 -0.002171 5/16/2019 11257.1 0.008972
5/17/2019 6555.619 0.035064 5/17/2019 11407.15 0.013329
5/20/2019 6924.852 0.056323 5/20/2019 11828.25 0.036915
5/21/2019 6720.32 -0.029536 5/21/2019 11709.1 -0.010073
5/22/2019 6744.218 0.003556 5/22/2019 11737.9 0.00246
5/23/2019 6773.004 0.004268 5/23/2019 11657.05 -0.006888
5/24/2019 6933.208 0.023653 5/24/2019 11844.1 0.016046
5/27/2019 6909.066 -0.003482 5/27/2019 11924.75 0.006809
5/28/2019 6895.577 -0.001952 5/28/2019 11928.75 0.000335
5/29/2019 6736.057 -0.023134 5/29/2019 11861.1 -0.005671
5/30/2019 6712.843 -0.003446 5/30/2019 11945.9 0.007149
5/31/2019 6714.944 0.000313 5/31/2019 11922.8 -0.001934
6/3/2019 6864.542 0.022278 6/3/2019 12088.55 0.013902
6/4/2019 6892.791 0.004115 6/4/2019 12021.65 -0.005534
6/6/2019 6831.114 -0.008948 6/6/2019 11843.75 -0.014798
6/7/2019 6791.576 -0.005788 6/7/2019 11870.65 0.002271
6/10/2019 6812.787 0.003123 6/10/2019 11922.7 0.004385
6/11/2019 6820.948 0.001198 6/11/2019 11965.6 0.003598
6/12/2019 6697.496 -0.018099 6/12/2019 11906.2 -0.004964
6/13/2019 6631.714 -0.009822 6/13/2019 11914.05 0.000659
6/14/2019 6595.255 -0.005498 6/14/2019 11823.3 -0.007617
6/17/2019 6433.242 -0.024565 6/17/2019 11672.15 -0.012784
6/18/2019 6293.809 -0.021674 6/18/2019 11691.5 0.001658
6/19/2019 6279.782 -0.002229 6/19/2019 11691.45 -4.26E-06
6/20/2019 6467.551 0.0299 6/20/2019 11831.75 0.012
6/21/2019 6272.549 -0.030151 6/21/2019 11724.1 -0.009098
6/24/2019 6314.238 0.006646 6/24/2019 11699.65 -0.002085
6/25/2019 6375.426 0.00969 6/25/2019 11796.45 0.008274
6/26/2019 6334.177 -0.00647 6/26/2019 11847.55 0.004332
6/27/2019 6340.434 0.000988 6/27/2019 11841.55 -0.000506
6/28/2019 6387.302 0.007392 6/28/2019 11788.85 -0.00445
7/1/2019 6361.106 -0.004101 7/1/2019 11865.6 0.00651
7/2/2019 6412.081 0.008013 7/2/2019 11910.3 0.003767
7/3/2019 6386.471 -0.003994 7/3/2019 11916.75 0.000542
7/4/2019 6396.881 0.00163 7/4/2019 11946.75 0.002517
7/5/2019 6216.59 -0.028184 7/5/2019 11811.15 -0.01135
7/8/2019 5902.535 -0.050519 7/8/2019 11558.6 -0.021382
7/9/2019 5811.388 -0.015442 7/9/2019 11555.9 -0.000234
7/10/2019 5794.233 -0.002952 7/10/2019 11498.9 -0.004933
7/11/2019 5895.205 0.017426 7/11/2019 11582.9 0.007305
7/12/2019 5836.802 -0.009907 7/12/2019 11552.5 -0.002625
7/15/2019 5942.611 0.018128 7/15/2019 11588.35 0.003103
7/16/2019 6019.194 0.012887 7/16/2019 11662.6 0.006407
7/17/2019 5938.701 -0.013373 7/17/2019 11687.5 0.002135
7/18/2019 5749.71 -0.031824 7/18/2019 11596.9 -0.007752
7/19/2019 5639.015 -0.019252 7/19/2019 11419.25 -0.015319
7/22/2019 5779.181 0.024856 7/22/2019 11346.2 -0.006397
7/23/2019 5741.305 -0.006554 7/23/2019 11331.05 -0.001335
7/24/2019 5637.939 -0.018004 7/24/2019 11271.3 -0.005273
7/25/2019 5626.943 -0.00195 7/25/2019 11252.15 -0.001699
7/26/2019 5674.74 0.008494 7/26/2019 11284.3 0.002857
7/29/2019 5435.851 -0.042097 7/29/2019 11189.2 -0.008428
7/30/2019 5382.971 -0.009728 7/30/2019 11085.4 -0.009277
7/31/2019 5346.366 -0.0068 7/31/2019 11118 0.002941
8/1/2019 5446.945 0.018813 8/1/2019 10980 -0.012412
8/2/2019 5561.063 0.020951 8/2/2019 10997.35 0.00158
8/5/2019 5542.491 -0.00334 8/5/2019 10862.6 -0.012253
8/6/2019 5701.767 0.028737 8/6/2019 10948.25 0.007885
8/7/2019 5644.781 -0.009994 8/7/2019 10855.5 -0.008472
8/8/2019 5769.162 0.022035 8/8/2019 11032.45 0.016301
8/9/2019 5962.355 0.033487 8/9/2019 11109.65 0.006998
8/13/2019 5684.319 -0.046632 8/13/2019 10925.85 -0.016544
8/14/2019 5764.151 0.014044 8/14/2019 11029.4 0.009478
8/16/2019 5921.783 0.027347 8/16/2019 11047.8 0.001668
8/19/2019 5929.216 0.001255 8/19/2019 11053.9 0.000552
8/20/2019 6135.759 0.034835 8/20/2019 11017 -0.003338
8/21/2019 6173.37 0.00613 8/21/2019 10918.7 -0.008923
8/22/2019 6153.201 -0.003267 8/22/2019 10741.35 -0.016243
8/23/2019 6198.593 0.007377 8/23/2019 10829.35 0.008193
8/26/2019 6199.782 0.000192 8/26/2019 11057.85 0.0211
8/27/2019 6221.785 0.003549 8/27/2019 11105.35 0.004296
8/28/2019 6048.989 -0.027773 8/28/2019 11046.1 -0.005335
8/29/2019 6055.729 0.001114 8/29/2019 10948.3 -0.008854
8/30/2019 6069.157 0.002218 8/30/2019 11023.25 0.006846
9/3/2019 5995.768 -0.012092 9/3/2019 10797.9 -0.020443
9/4/2019 5778.77 -0.036192 9/4/2019 10844.65 0.00433
9/5/2019 5915.44 0.02365 9/5/2019 10847.9 0.0003
9/6/2019 6131.794 0.036575 9/6/2019 10946.2 0.009062
9/9/2019 6279.02 0.02401 9/9/2019 11003.05 0.005194
9/11/2019 6538.486 0.041323 9/11/2019 11035.7 0.002967
9/12/2019 6335.065 -0.031111 9/12/2019 10982.8 -0.004794
9/13/2019 6392.796 0.009113 9/13/2019 11075.9 0.008477
9/16/2019 6355.581 -0.005821 9/16/2019 11003.5 -0.006537
9/17/2019 6075.748 -0.044029 9/17/2019 10817.6 -0.016895
 9/18/2019 6040.713 -0.005766 9/18/2019 10840.65 0.002131
9/19/2019 5918.513 -0.020229 9/19/2019 10704.8 -0.012532
9/20/2019 6533.184 0.103856 9/20/2019 11274.2 0.053191
9/23/2019 6836.356 0.046405 9/23/2019 11600.2 0.028916
9/24/2019 6946.615 0.016128 9/24/2019 11588.2 -0.001034
9/25/2019 6579.318 -0.052874 9/25/2019 11440.2 -0.012772
9/26/2019 6796.317 0.032982 9/26/2019 11571.2 0.011451
9/27/2019 6713.313 -0.012213 9/27/2019 11512.4 -0.005082
9/30/2019 6655.929 -0.008548 9/30/2019 11474.45 -0.003296
10/1/2019 6721.539 0.009857 10/1/2019 11359.9 -0.009983
10/3/2019 6693.838 -0.004121 10/3/2019 11314 -0.004041
10/4/2019 6590.32 -0.015465 10/4/2019 11174.75 -0.012308
10/7/2019 6570.746 -0.00297 10/7/2019 11126.4 -0.004327
10/9/2019 6659.646 0.01353 10/9/2019 11313.3 0.016798
10/10/2019 6546.563 -0.01698 ### 11234.55 -0.006961
10/11/2019 6639.18 0.014147 ### 11305.05 0.006275
10/14/2019 6760.291 0.018242 ### 11341.15 0.003193
10/15/2019 6923.473 0.024138 ### 11428.3 0.007684
10/16/2019 6912.819 -0.001539 ### 11464 0.003124
10/17/2019 7060.391 0.021348 ### 11586.35 0.010673
10/18/2019 7237.201 0.025042 ### 11661.85 0.006516
10/22/2019 7191.562 -0.006306 ### 11588.35 -0.006303
10/23/2019 7373.921 0.025357 ### 11604.1 0.001359
10/24/2019 7325.506 -0.006566 ### 11582.6 -0.001853
10/25/2019 7404.545 0.01079 ### 11583.9 0.000112
10/29/2019 7652.465 0.033482 ### 11786.85 0.01752
10/30/2019 7489.581 -0.021285 ### 11844.1 0.004857
10/31/2019 7492.009 0.000324 ### 11877.45 0.002816
11/1/2019 7550.73 0.007838 11/1/2019 11890.6 0.001107
11/4/2019 7357.816 -0.025549 11/4/2019 11941.3 0.004264
11/5/2019 7323.128 -0.004714 11/5/2019 11917.2 -0.002018
11/6/2019 7245.972 -0.010536 11/6/2019 11966.05 0.004099
11/7/2019 7222.186 -0.003283 11/7/2019 12012.05 0.003844
11/8/2019 7136.358 -0.011884 11/8/2019 11908.15 -0.00865
11/11/2019 7073.671 -0.008784 ### 11913.45 0.000445
11/13/2019 7090.818 0.002424 ### 11840.45 -0.006128
11/14/2019 7182.542 0.012936 ### 11872.1 0.002673
11/15/2019 7083.484 -0.013792 ### 11895.45 0.001967
11/18/2019 7035.168 -0.006821 ### 11884.5 -0.000921
11/19/2019 6982.641 -0.007466 ### 11940.1 0.004678
11/20/2019 7088.984 0.01523 ### 11999.1 0.004941
11/21/2019 6956.476 -0.018692 ### 11968.4 -0.002558
11/22/2019 6997.507 0.005898 ### 11914.4 -0.004512
11/25/2019 7171.591 0.024878 ### 12073.75 0.013375
11/26/2019 7061.481 -0.015354 ### 12037.7 -0.002986
11/27/2019 7229.371 0.023775 ### 12100.7 0.005234
11/28/2019 7196.517 -0.004545 ### 12151.15 0.004169
11/29/2019 7181.254 -0.002121 ### 12056.05 -0.007826
12/2/2019 7075.704 -0.014698 12/2/2019 12048.2 -0.000651
12/3/2019 7075.158 -7.71E-05 12/3/2019 11994.2 -0.004482
12/4/2019 7013.018 -0.008783 12/4/2019 12043.2 0.004085
12/5/2019 6950.332 -0.008939 12/5/2019 12018.4 -0.002059
12/6/2019 6825.306 -0.017988 12/6/2019 11921.5 -0.008063
12/9/2019 6932.393 0.01569 12/9/2019 11937.5 0.001342
12/10/2019 6901.57 -0.004446 ### 11856.8 -0.00676
12/11/2019 6930.856 0.004243 ### 11910.15 0.0045
12/12/2019 6937.397 0.000944 ### 11971.8 0.005176
12/13/2019 7150.63 0.030737 ### 12086.7 0.009598
12/16/2019 7076.397 -0.010381 ### 12053.95 -0.00271
12/17/2019 7131.006 0.007717 ### 12165 0.009213
12/18/2019 7176.1 0.006324 ### 12221.65 0.004657
12/19/2019 7176.1 0 ### 12259.7 0.003113
12/20/2019 7196.765 0.00288 ### 12271.8 0.000987
12/23/2019 7295.278 0.013689 ### 12262.75 -0.000737
12/24/2019 7262.473 -0.004497 ### 12214.55 -0.003931
12/26/2019 7176.348 -0.011859 ### 12126.55 -0.007205
12/27/2019 7279.421 0.014363 ### 12245.8 0.009834
12/30/2019 7350.135 0.009714 ### 12255.85 0.000821
12/31/2019 7302.91 -0.006425 ### 12168.45 -0.007131
1/1/2020 7246.517 -0.007722 1/1/2020 12182.5 0.001155
1/2/2020 7264.505 0.002482 1/2/2020 12282.2 0.008184
1/3/2020 7189.579 -0.010314 1/3/2020 12226.65 -0.004523
1/6/2020 6979.618 -0.029204 1/6/2020 11993.05 -0.019106
1/7/2020 7010.54 0.00443 1/7/2020 12052.95 0.004995
1/8/2020 6972.482 -0.005429 1/8/2020 12025.35 -0.00229
1/9/2020 7163.464 0.027391 1/9/2020 12215.9 0.015846
1/10/2020 7265.149 0.014195 1/10/2020 12256.8 0.003348
1/13/2020 7287.152 0.003028 1/13/2020 12329.55 0.005935
1/14/2020 7320.947 0.004638 1/14/2020 12362.3 0.002656
1/15/2020 7416.241 0.013017 1/15/2020 12343.3 -0.001537
1/16/2020 7396.121 -0.002713 1/16/2020 12355.5 0.000988
1/17/2020 7453.108 0.007705 1/17/2020 12352.35 -0.000255
1/20/2020 7383.188 -0.009381 1/20/2020 12224.55 -0.010346
1/21/2020 7237.547 -0.019726 1/21/2020 12169.85 -0.004475
1/22/2020 7071.987 -0.022875 1/22/2020 12106.9 -0.005173
1/23/2020 7083.384 0.001612 1/23/2020 12180.35 0.006067
1/24/2020 7064.901 -0.002609 1/24/2020 12248.25 0.005575
1/27/2020 7085.069 0.002855 1/27/2020 12119 -0.010553
1/28/2020 6934.672 -0.021227 1/28/2020 12055.8 -0.005215
1/29/2020 6947.804 0.001894 1/29/2020 12129.5 0.006113
1/30/2020 6957.864 0.001448 1/30/2020 12035.8 -0.007725
1/31/2020 6851.867 -0.015234 1/31/2020 11962.1 -0.006123
2/3/2020 6948.795 0.014146 2/3/2020 11707.9 -0.02125
2/4/2020 7135.417 0.026857 2/4/2020 11979.65 0.023211
2/5/2020 6978.131 -0.022043 2/5/2020 12089.15 0.009141
2/6/2020 6959.003 -0.002741 2/6/2020 12137.95 0.004037
2/7/2020 6909.598 -0.0071 2/7/2020 12098.35 -0.003263
2/10/2020 6831.451 -0.01131 2/10/2020 12031.5 -0.005526
2/11/2020 6971.045 0.020434 2/11/2020 12107.9 0.00635
2/12/2020 6980.51 0.001358 2/12/2020 12201.2 0.007706
2/13/2020 6942.601 -0.005431 2/13/2020 12174.65 -0.002176
2/14/2020 6852.164 -0.013026 2/14/2020 12113.45 -0.005027
2/17/2020 6845.177 -0.00102 2/17/2020 12045.8 -0.005585
2/18/2020 6720.647 -0.018192 2/18/2020 11992.5 -0.004425
2/19/2020 6696.366 -0.003613 2/19/2020 12125.9 0.011124
2/20/2020 6697.357 0.000148 2/20/2020 12080.85 -0.003715
2/24/2020 6412.717 -0.0425 2/24/2020 11829.4 -0.020814
2/25/2020 6357.365 -0.008632 2/25/2020 11797.9 -0.002663
2/26/2020 6179.267 -0.028014 2/26/2020 11678.5 -0.01012
2/27/2020 6233.727 0.008813 2/27/2020 11633.3 -0.00387
2/28/2020 6227.087 -0.001065 2/28/2020 11201.75 -0.037096
3/2/2020 6229.119 0.000326 3/2/2020 11132.75 -0.00616
3/3/2020 6329.119 0.016054 3/3/2020 11303.3 0.01532
3/4/2020 6327.435 -0.000266 3/4/2020 11251 -0.004627
3/5/2020 6309.198 -0.002882 3/5/2020 11269 0.0016
3/6/2020 6388.485 0.012567 3/6/2020 10989.45 -0.024807
3/9/2020 6145.818 -0.037985 3/9/2020 10451.45 -0.048956
3/11/2020 6091.506 -0.008837 3/11/2020 10458.4 0.000665
3/12/2020 5592.842 -0.081862 3/12/2020 9590.15 -0.083019
3/13/2020 5786.55 0.034635 3/13/2020 9955.2 0.038065
3/16/2020 5431.394 -0.061376 3/16/2020 9197.4 -0.076121
3/17/2020 5553.992 0.022572 3/17/2020 8967.05 -0.025045
3/18/2020 5304.932 -0.044843 3/18/2020 8468.8 -0.055565
3/19/2020 4776.584 -0.099596 3/19/2020 8263.45 -0.024248
3/20/2020 5033.92 0.053874 3/20/2020 8745.45 0.058329
3/23/2020 4182.726 -0.169092 3/23/2020 7610.25 -0.129805
3/24/2020 4446.454 0.063052 3/24/2020 7801.05 0.025071
3/25/2020 4961.323 0.115793 3/25/2020 8317.85 0.066247
3/26/2020 4834.513 -0.02556 3/26/2020 8641.45 0.038904
3/27/2020 4604.681 -0.04754 3/27/2020 8660.25 0.002176
3/30/2020 4289.862 -0.068369 3/30/2020 8281.1 -0.043781
3/31/2020 4250.07 -0.009276 3/31/2020 8597.75 0.038238
4/1/2020 4208.494 -0.009782 4/1/2020 8253.8 -0.040005
4/3/2020 3975.738 -0.055306 4/3/2020 8083.8 -0.020597
4/7/2020 4513.055 0.135149 4/7/2020 8792.2 0.087632
 4/8/2020 4656.217 0.031722 4/8/2020 8748.75 -0.004942
4/9/2020 5279.164 0.133788 4/9/2020 9111.9 0.041509
4/13/2020 5236.051 -0.008167 4/13/2020 8993.85 -0.012956
4/15/2020 5048.885 -0.035746 4/15/2020 8925.3 -0.007622
4/16/2020 5085.059 0.007165 4/16/2020 8992.8 0.007563
4/17/2020 5455.923 0.072932 4/17/2020 9266.75 0.030463
4/20/2020 5283.822 -0.031544 4/20/2020 9261.85 -0.000529
4/21/2020 4956.516 -0.061945 4/21/2020 8981.45 -0.030275
4/22/2020 5134.664 0.035942 4/22/2020 9187.3 0.022919
4/23/2020 5110.382 -0.004729 4/23/2020 9313.9 0.01378
4/24/2020 5000.668 -0.021469 4/24/2020 9154.4 -0.017125
4/27/2020 5011.273 0.002121 4/27/2020 9282.3 0.013971
4/28/2020 5007.656 -0.000722 4/28/2020 9380.9 0.010622
4/29/2020 5023.266 0.003117 4/29/2020 9553.35 0.018383
4/30/2020 5311.027 0.057286 4/30/2020 9859.9 0.032088
5/4/2020 4842.739 -0.088173 5/4/2020 9293.5 -0.057445
5/5/2020 4786.792 -0.011553 5/5/2020 9205.6 -0.009458
5/6/2020 4800.073 0.002774 5/6/2020 9270.9 0.007094
5/7/2020 4706.96 -0.019398 5/7/2020 9199.05 -0.00775
5/8/2020 4612.659 -0.020035 5/8/2020 9251.5 0.005702
5/11/2020 4893.78 0.060946 5/11/2020 9239.2 -0.001329
5/12/2020 4907.16 0.002734 5/12/2020 9196.55 -0.004616
5/13/2020 4991.204 0.017127 5/13/2020 9383.55 0.020334
5/14/2020 5068.458 0.015478 5/14/2020 9142.75 -0.025662
5/15/2020 5054.93 -0.002669 5/15/2020 9136.85 -0.000645
5/18/2020 4678.863 -0.074396 5/18/2020 8823.25 -0.034323
5/19/2020 4762.461 0.017867 5/19/2020 8879.1 0.00633
5/20/2020 4848.339 0.018032 5/20/2020 9066.55 0.021111
5/21/2020 5005.079 0.032329 5/21/2020 9106.25 0.004379
5/22/2020 5088.528 0.016673 5/22/2020 9039.25 -0.007358
5/26/2020 5199.381 0.021785 5/26/2020 9029.05 -0.001128
5/27/2020 5197.646 -0.000334 5/27/2020 9314.95 0.031665
5/28/2020 5419.601 0.042703 5/28/2020 9490.1 0.018803
5/29/2020 5560.78 0.02605 5/29/2020 9580.3 0.009505
6/1/2020 5741.951 0.03258 6/1/2020 9826.15 0.025662
6/2/2020 5639.374 -0.017865 6/2/2020 9979.1 0.015566
6/3/2020 5573.863 -0.011617 6/3/2020 10061.55 0.008262
6/4/2020 5639.473 0.011771 6/4/2020 10029.1 -0.003225
6/5/2020 5694.974 0.009842 6/5/2020 10142.15 0.011272
6/8/2020 5683.675 -0.001984 6/8/2020 10167.45 0.002495
6/9/2020 5611.821 -0.012642 6/9/2020 10046.65 -0.011881
6/10/2020 5625.003 0.002349 6/10/2020 10116.15 0.006918
6/11/2020 5377.776 -0.043951 6/11/2020 9902 -0.021169
6/12/2020 5512.167 0.02499 6/12/2020 9972.9 0.00716
6/15/2020 5426.934 -0.015463 6/15/2020 9813.7 -0.015963
6/16/2020 5453.149 0.004831 6/16/2020 9914 0.01022
6/17/2020 5675.152 0.040711 6/17/2020 9881.15 -0.003313
6/18/2020 5663.457 -0.002061 6/18/2020 10091.65 0.021303
6/19/2020 5844.776 0.032016 6/19/2020 10244.4 0.015136
6/22/2020 5843.438 -0.000229 6/22/2020 10311.2 0.006521
6/23/2020 5834.022 -0.001611 6/23/2020 10471 0.015498
6/24/2020 5704.042 -0.02228 6/24/2020 10305.3 -0.015825
6/25/2020 5710.93 0.001208 6/25/2020 10288.9 -0.001591
6/26/2020 5703.596 -0.001284 6/26/2020 10383 0.009146
6/29/2020 5628.075 -0.013241 6/29/2020 10312.4 -0.0068
6/30/2020 5786.252 0.028105 6/30/2020 10302.1 -0.000999
7/1/2020 5751.366 -0.006029 7/1/2020 10430.05 0.01242
7/2/2020 5895.42 0.025047 7/2/2020 10551.7 0.011663
7/3/2020 5879.216 -0.002749 7/3/2020 10607.35 0.005274
7/6/2020 6069.009 0.032282 7/6/2020 10763.65 0.014735
7/7/2020 6171.239 0.016845 7/7/2020 10799.65 0.003345
7/8/2020 5990.515 -0.029285 7/8/2020 10705.75 -0.008695
7/9/2020 5948.84 -0.006957 7/9/2020 10813.45 0.01006
7/10/2020 5902.556 -0.00778 7/10/2020 10768.05 -0.004199
7/13/2020 5935.46 0.005575 7/13/2020 10802.7 0.003218
7/14/2020 5720.295 -0.036251 7/14/2020 10607.35 -0.018083
7/15/2020 5749.582 0.00512 7/15/2020 10618.2 0.001023
7/16/2020 5822.972 0.012764 7/16/2020 10739.95 0.011466
7/17/2020 5866.729 0.007514 7/17/2020 10901.7 0.015061
7/20/2020 5815.192 -0.008785 7/20/2020 11022.2 0.011053
7/21/2020 6076.194 0.044883 7/21/2020 11162.25 0.012706
7/22/2020 5949.88 -0.020788 7/22/2020 11132.6 -0.002656
7/23/2020 6011.873 0.010419 7/23/2020 11215.45 0.007442
7/24/2020 5947.205 -0.010757 7/24/2020 11194.15 -0.001899
7/27/2020 5989.424 0.007099 7/27/2020 11131.8 -0.00557
7/28/2020 6226.79 0.039631 7/28/2020 11300.55 0.015159
7/29/2020 6130.01 -0.015542 7/29/2020 11202.85 -0.008646
7/30/2020 6209.544 0.012975 7/30/2020 11102.15 -0.008989
7/31/2020 6206.918 -0.000423 7/31/2020 11073.45 -0.002585
8/3/2020 6110.238 -0.015576 8/3/2020 10891.6 -0.016422
8/4/2020 6302.261 0.031426 8/4/2020 11095.25 0.018698
8/5/2020 6468.069 0.026309 8/5/2020 11101.65 0.000577
8/6/2020 6497.306 0.00452 8/6/2020 11200.15 0.008873
8/7/2020 6619.458 0.0188 8/7/2020 11214.05 0.001241
8/10/2020 6549.982 -0.010496 8/10/2020 11270.15 0.005003
8/11/2020 6589.923 0.006098 8/11/2020 11322.5 0.004645
8/12/2020 6670.3 0.012197 8/12/2020 11308.4 -0.001245
8/13/2020 6731.65 0.009198 8/13/2020 11300.45 -0.000703
8/14/2020 6588.2 -0.02131 8/14/2020 11178.4 -0.0108
8/17/2020 6768.4 0.027352 8/17/2020 11247.1 0.006146
 8/18/2020 6893.1 0.018424 8/18/2020 11385.35 0.012292
8/19/2020 6990.3 0.014101 8/19/2020 11408.4 0.002025
8/20/2020 6974.7 -0.002232 8/20/2020 11312.2 -0.008432
8/21/2020 6973 -0.000244 8/21/2020 11371.6 0.005251
8/24/2020 7082.5 0.015703 8/24/2020 11466.45 0.008341
8/25/2020 7109.95 0.003876 8/25/2020 11472.25 0.000506
8/26/2020 7008.65 -0.014248 8/26/2020 11549.6 0.006742
8/27/2020 7098 0.012749 8/27/2020 11559.25 0.000836
8/28/2020 7104.1 0.000859 8/28/2020 11647.6 0.007643
8/31/2020 6839.95 -0.037183 8/31/2020 11387.5 -0.022331
9/1/2020 6905.65 0.009605 9/1/2020 11470.25 0.007267
9/2/2020 6920.75 0.002187 9/2/2020 11535 0.005645
9/3/2020 7072.6 0.021941 9/3/2020 11527.45 -0.000655
9/4/2020 7190.1 0.016613 9/4/2020 11333.85 -0.016795
9/7/2020 7209.15 0.002649 9/7/2020 11355.05 0.001871
9/8/2020 7224 0.00206 9/8/2020 11317.35 -0.00332
9/9/2020 7215.25 -0.001211 9/9/2020 11278 -0.003477
9/10/2020 7231.65 0.002273 9/10/2020 11449.25 0.015184
9/11/2020 7193.6 -0.005262 9/11/2020 11464.45 0.001328
9/14/2020 7128.85 -0.009001 9/14/2020 11440.05 -0.002128
9/15/2020 7052.8 -0.010668 9/15/2020 11521.8 0.007146
9/16/2020 7057.95 0.00073 9/16/2020 11604.55 0.007182
9/17/2020 7085.85 0.003953 9/17/2020 11516.1 -0.007622
9/18/2020 6964.75 -0.01709 9/18/2020 11504.95 -0.000968
9/21/2020 6626.95 -0.048501 9/21/2020 11250.55 -0.022112
9/22/2020 6440.55 -0.028128 9/22/2020 11153.65 -0.008613
9/23/2020 6501.3 0.009432 9/23/2020 11131.85 -0.001955
9/24/2020 6297.7 -0.031317 9/24/2020 10805.55 -0.029312
9/25/2020 6497.7 0.031758 9/25/2020 11050.25 0.022646
9/28/2020 6703 0.031596 9/28/2020 11227.55 0.016045
9/29/2020 6742.75 0.00593 9/29/2020 11222.4 -0.000459
9/30/2020 6743.45 0.000104 9/30/2020 11247.55 0.002241
10/1/2020 6796.3 0.007837 10/1/2020 11416.95 0.015061
10/5/2020 6818.85 0.003318 10/5/2020 11503.35 0.007568
10/6/2020 6892.4 0.010786 10/6/2020 11662.4 0.013826
10/7/2020 7046.9 0.022416 10/7/2020 11738.85 0.006555
10/8/2020 7079.85 0.004676 10/8/2020 11834.6 0.008157
10/9/2020 7062.4 -0.002465 10/9/2020 11914.2 0.006726
10/12/2020 7136.65 0.010513 ### 11930.95 0.001406
10/13/2020 7032.9 -0.014538 ### 11934.5 0.000298
10/14/2020 7002.35 -0.004344 ### 11971.05 0.003063
10/15/2020 6892.6 -0.015673 ### 11680.35 -0.024284
10/16/2020 6894.9 0.000334 ### 11762.45 0.007029
10/19/2020 6851.95 -0.006229 ### 11873.05 0.009403
10/20/2020 6844.6 -0.001073 ### 11896.8 0.002
10/21/2020 6861.85 0.00252 ### 11937.65 0.003434
10/22/2020 6811.55 -0.00733 ### 11896.45 -0.003451
10/23/2020 7103.25 0.042824 ### 11930.35 0.00285
10/26/2020 7054.8 -0.006821 ### 11767.75 -0.013629
10/27/2020 7158.4 0.014685 ### 11889.4 0.010338
10/28/2020 7186.05 0.003863 ### 11729.6 -0.013441
10/29/2020 7117.7 -0.009511 ### 11670.8 -0.005013
10/30/2020 6965.15 -0.021433 ### 11642.4 -0.002433
11/2/2020 6868.35 -0.013898 11/2/2020 11669.15 0.002298
11/3/2020 6913.35 0.006552 11/3/2020 11813.5 0.01237
11/4/2020 6954.05 0.005887 11/4/2020 11908.5 0.008042
11/5/2020 7092.8 0.019952 11/5/2020 12120.3 0.017786
11/6/2020 6907.6 -0.026111 11/6/2020 12263.55 0.011819
11/9/2020 6872.15 -0.005132 11/9/2020 12461.05 0.016105
11/10/2020 6793.45 -0.011452 ### 12631.1 0.013647
11/11/2020 6857.35 0.009406 ### 12749.15 0.009346
11/12/2020 6836.85 -0.002989 ### 12690.8 -0.004577
11/13/2020 6809.25 -0.004037 ### 12719.95 0.002297
11/17/2020 6981.45 0.025289 ### 12874.2 0.012127
11/18/2020 7054.3 0.010435 ### 12938.25 0.004975
11/19/2020 6963.3 -0.0129 ### 12771.7 -0.012873
11/20/2020 6965.85 0.000366 ### 12859.05 0.006839
11/23/2020 6987.75 0.003144 ### 12926.45 0.005241
11/24/2020 7158.4 0.024421 ### 13055.15 0.009956
11/25/2020 7055.7 -0.014347 ### 12858.4 -0.015071
11/26/2020 6994.25 -0.008709 ### 12987 0.010001
11/27/2020 7035.8 0.005941 ### 12968.95 -0.00139
12/1/2020 7101.7 0.009366 12/1/2020 13109.05 0.010803
12/2/2020 7206.5 0.014757 12/2/2020 13113.75 0.000359
12/3/2020 7739.1 0.073906 12/3/2020 13133.9 0.001537
12/4/2020 7803.15 0.008276 12/4/2020 13258.55 0.009491
12/7/2020 7743.4 -0.007657 12/7/2020 13355.75 0.007331
12/8/2020 7762.7 0.002492 12/8/2020 13392.95 0.002785
12/9/2020 7709.25 -0.006886 12/9/2020 13529.1 0.010166
12/10/2020 7736 0.00347 ### 13478.3 -0.003755
12/11/2020 7733.55 -0.000317 ### 13513.85 0.002638
12/14/2020 7696.8 -0.004752 ### 13558.15 0.003278
12/15/2020 7765.25 0.008893 ### 13567.85 0.000715
12/16/2020 7796.35 0.004005 ### 13682.7 0.008465
12/17/2020 7694 -0.013128 ### 13740.7 0.004239
12/18/2020 7559.75 -0.017449 ### 13760.55 0.001445
12/21/2020 7376.1 -0.024293 ### 13328.4 -0.031405
12/22/2020 7395.4 0.002617 ### 13466.3 0.010346
12/23/2020 7449.95 0.007376 ### 13601.1 0.01001
12/24/2020 7446.05 -0.000524 ### 13749.25 0.010893
12/28/2020 7483 0.004962 ### 13873.2 0.009015
12/29/2020 7452.35 -0.004096 ### 13932.6 0.004282
12/30/2020 7612.9 0.021544 ### 13981.95 0.003542
12/31/2020 7649.6 0.004821 ### 13981.75 -1.43E-05
1/4/2021 7702.3 0.006889 1/4/2021 14132.9 0.010811
1/5/2021 7655.45 -0.006083 1/5/2021 14199.5 0.004712
1/6/2021 7628.6 -0.003507 1/6/2021 14146.25 -0.00375
1/7/2021 7566.05 -0.008199 1/7/2021 14137.35 -0.000629
1/8/2021 8014.9 0.059324 1/8/2021 14347.25 0.014847
1/11/2021 8232.75 0.027181 1/11/2021 14484.75 0.009584
1/12/2021 8188.05 -0.00543 1/12/2021 14563.45 0.005433
1/13/2021 8139.85 -0.005887 1/13/2021 14564.85 9.609E-05
1/14/2021 8149.45 0.001179 1/14/2021 14595.6 0.002111
1/15/2021 8024.75 -0.015302 1/15/2021 14433.7 -0.011092
1/18/2021 7830.65 -0.024188 1/18/2021 14281.3 -0.010559
1/19/2021 7922.6 0.011742 1/19/2021 14521.15 0.016795
1/20/2021 8144.95 0.028065 1/20/2021 14644.7 0.008508
1/21/2021 8076.75 -0.008373 1/21/2021 14590.35 -0.003711
1/22/2021 8048.85 -0.003454 1/22/2021 14371.9 -0.014972
1/25/2021 7981.5 -0.008368 1/25/2021 14238.9 -0.009254
1/27/2021 7870.9 -0.013857 1/27/2021 13967.5 -0.01906
1/28/2021 7588.5 -0.035879 1/28/2021 13817.55 -0.010736
1/29/2021 7206.65 -0.05032 1/29/2021 13634.6 -0.01324
2/1/2021 7399.8 0.026802 2/1/2021 14281.2 0.047424
2/2/2021 7654.7 0.034447 2/2/2021 14647.85 0.025674
2/3/2021 7589.2 -0.008557 2/3/2021 14789.95 0.009701
2/4/2021 7640 0.006694 2/4/2021 14895.65 0.007147
2/5/2021 7494.15 -0.01909 2/5/2021 14924.25 0.00192
2/8/2021 7574.6 0.010735 2/8/2021 15115.8 0.012835
2/9/2021 7627.05 0.006924 2/9/2021 15109.3 -0.00043
2/10/2021 7621.7 -0.000701 2/10/2021 15106.5 -0.000185
2/11/2021 7667.35 0.005989 2/11/2021 15173.3 0.004422
2/12/2021 7568.5 -0.012892 2/12/2021 15163.3 -0.000659
2/15/2021 7596.65 0.003719 2/15/2021 15314.7 0.009985
2/16/2021 7697.05 0.013216 2/16/2021 15313.45 -8.16E-05
2/17/2021 7503.2 -0.025185 2/17/2021 15208.9 -0.006827
2/18/2021 7497.55 -0.000753 2/18/2021 15118.95 -0.005914
2/19/2021 7323 -0.023281 2/19/2021 14981.75 -0.009075
2/22/2021 7086.45 -0.032302 2/22/2021 14675.7 -0.020428
2/23/2021 6970.5 -0.016362 2/23/2021 14707.8 0.002187
2/24/2021 6952.95 -0.002518 2/24/2021 14982 0.018643
2/25/2021 6930.35 -0.00325 2/25/2021 15097.35 0.007699
2/26/2021 6866.15 -0.009264 2/26/2021 14529.15 -0.037636
3/1/2021 7015 0.021679 3/1/2021 14761.55 0.015995
3/2/2021 7214.1 0.028382 3/2/2021 14919.1 0.010673
 3/3/2021 7124.7 -0.012392 3/3/2021 15245.6 0.021885
3/4/2021 7131.6 0.000968 3/4/2021 15080.75 -0.010813
3/5/2021 7249 0.016462 3/5/2021 14938.1 -0.009459
3/8/2021 7259.5 0.001448 3/8/2021 14956.2 0.001212
3/9/2021 7301.55 0.005792 3/9/2021 15098.4 0.009508
3/10/2021 7272.1 -0.004033 3/10/2021 15174.8 0.00506
3/12/2021 7096.2 -0.024188 3/12/2021 15030.95 -0.00948
3/15/2021 7089.3 -0.000972 3/15/2021 14929.5 -0.006749
3/16/2021 7150.3 0.008605 3/16/2021 14910.45 -0.001276
3/17/2021 7064.65 -0.011979 3/17/2021 14721.3 -0.012686
3/18/2021 7113.75 0.00695 3/18/2021 14557.85 -0.011103
3/19/2021 7113.55 -2.81E-05 3/19/2021 14744 0.012787
3/22/2021 7101.25 -0.001729 3/22/2021 14736.4 -0.000515
3/23/2021 7186.25 0.01197 3/23/2021 14814.75 0.005317
3/24/2021 7066.2 -0.016705 3/24/2021 14549.4 -0.017911
3/25/2021 6786.85 -0.039533 3/25/2021 14324.9 -0.01543
3/26/2021 6784.45 -0.000354 3/26/2021 14507.3 0.012733

Daily average reutrn -0.000142 0.00044

Annual average return -5% 17%

 CAPM = Capital asset pricing model
ke cost of equity ke = Rf + beta *( Rm - Rf )
we weight on equity
Rf risk free rate of return
kd cost of debt
wd weight on debt Beta risk factor

Rm expected market return

wacc weighted average cost of capital
market premium Rm - Rf

equity
debt

Beta Coefficient

slope 1.13908966

Formulae Method
Numerator 0.00020829
Denominator
ate of return 7% kd 9%
int * ( 1- tax )
1.1
tax 25%
market return 20%
7%
13%
cost weight
100000 21% 0.333333 7.10%
200000 7% 0.666667 5%
300000 1 12% Wacc
Q Table1.1
Capital Structure Equity Debt
Equity Debt Ratio
2018 425594000 22244000 95.033% 4.967%
2019 470921000 26985000 94.580% 5.420%
2020 494130000 28901000 94.474% 5.526%

Table1.2
The Coverage Ratio
Interest EBIT Coverage Ratio
2018 3458000 94057000 27.1998264893
2019 759000 81790000 107.7602108037
2020 1342000 37859000 28.21087928465

Table 1.3
Reserves
Reserves YOY%
2018 371027000
2019 416520000 12%
2020 442143000 6%

Table 1.4
Reserves to Debt Ratio
Reserves Debt Ratio
2018 371027000 22244000 16.67986872865
2019 416520000 26985000 15.435241801
2020 442143000 28901000 15.29853638282

Table 1.5
EBIT YOY%
EBITDA YOY%
2018 94057000
2019 81790000 -13%
2020 37859000 -54%

Table 1.6
ROI
EBIT Capital ROI
2018 94057000 447838000 21%
2019 81790000 497906000 16%
2020 37859000 523031000 7%
 See the consistency of Cash flows

See the coverage ratio

See the Reserves
See the Researves to debt ratio
See the Growth rate EBITDA
See the ROI

Debt_YOY%

21.3%
7.1%
DOL Conribtution/EBIT % change in EBIT/ % Change in Sales
DFL EBIT/PAT % Change in EPS/ % Change EBIT
DOL*DFL

DOL
EBIT Sales % EBIT
2018 94057000 786405000
2019 81790000 840928000 -13.0%
2020 37859000 729207000 -53.7%

DFL
EPS EBIT % EPS
2018 255.62 94057000
2019 253.21 81790000 -0.9%
2020 187.9 37859000 -25.8%

Capital Structure Equity

Equity Debt Ratio
2018 425594000 22244000 95.033%
2019 470921000 26985000 94.580%
2020 494130000 28901000 94.474%

EBITDA YOY%
EBITDA YOY%
2018 137205000
 2019 142725000 4%
2020 107654000 -25%

The Coverage Ratio

Interest EBIT Coverage Ratio
2018 3458000 94057000 27.1998264893
2019 759000 81790000 107.7602108037
2020 1342000 37859000 28.21087928465

ROI
EBIT Capital ROI
2018 94057000 447838000 21%
2019 81790000 497906000 16%
2020 37859000 523031000 7%
 In Maruti interestingly, it has captures both increase and decrease in sales taken the
6.5% whereas the sales of 2020 went down from last year i.e. -15.3%. Degree of Op
Operating leverage tells that with the effective use of fixed cost the company is able
Beacause the fixed cost is fixed and is not changing with volumes. Thus, at good time
simultaneously at the time vulnerabilty ( causes by Economic, Industry or Comapny)
Thus, it has been considered as two edged sword. Operating leverage is good for tho
vulnerable becuase of Industry specific or company specific reasons, then it is not wi
% Sales DOL risk.
In the case of Maruti, 6.5% in sales will magnified in negative growth of EBIT i.e. -13%
leverage. As we all know that Maruti is an Automobile based manufacturing compan
6.5% 2.01152906461 overall econonomic scenario was in recession and due to this industry hits a lot. Few
-15.3% 3.50579805427 hits the sector badly. Thus, in 2019 even increase in Sales just by 6.5% the EBIT marg
from Continuing Business (see Profit and Loss )

Due to Thus, in 2019, negative DOL is due to, even incraese in Sales i.e. 6.5% , EBIT margin r
pandemic the from continuing business (see Profit and loss and compare it with previous years)
company Sales
reported 2020: 72,92,07,000
detoriated 2019: 84,09,28,000
sales 2018: 78,64,05,000
Income from Continuing Business
2020: 5,67,76,000
2019: 7,65,06,000
2018: 7,88,07,000
The condition even worst in 2020, during Pandemic the industry hits a lot and
causes detoriation in EBIT by 53.7%. The degree operating leverage could be c
pandemic the sesitivity has been increased significantly that has been capture
EBIT reduced by 7.6%.
On the other hand, if the economy gets recovered and takes momentum in e
and coming to normal operations, then every increase in sales will increase i

% EBIT DFL

-13.0% 0.07228945813
-53.7% 0.48020640624

Debt Degree of Financial Leverege shows that how effectively firm is utilizing fixed financ
introduction of borrowed source in capital provides leverage or spurs the EPS of the
Equity i.e. Ke>Kd and it also provides tax shield. This benefit helps firm to increase i
4.967% the benefit of financial leverage the company has to see the Return on investments
5.420% Coverage Ratio.
5.526%
In Maruti Suzuki, it has been captured that in 2019 and in 2020, the company's ope
then by 53.7%. EBITDA margin in 2020 came to its worst i.e. -25%. On the other han
has been increased. Despite of very low proportion of debt in capital structure (tha
5.4% in 2019 and then 5.53% in 2020. Coverage ratio from 2019 to 2020 came down
recessionary amid pandemic times increasing debt is giving the signal of financial di
on consitent EBIT, ROI, Coverage and D/E ratio.

Return on Investment trend is also providing alarming signs, in 2018 it was 21%, th
to other alternative asset class. The whole picture is clearly visible in companies DF
In 2019, there is a 13% downfall in EBIT causes -0.9% reduction in EPS. DFL in 2019,
in EPS. Quanitively it has been interpreted as 1% change in EBIT will cause only 0.7%
coverage ratio and ROI is in controlled limit. i.e. 16%.
But in 2020, the reduction in EBIT by 53.7% causes reduction in EPS by 25.8%. DFL in
 has been increased. Despite of very low proportion of debt in capital structure (tha
5.4% in 2019 and then 5.53% in 2020. Coverage ratio from 2019 to 2020 came down
recessionary amid pandemic times increasing debt is giving the signal of financial di
on consitent EBIT, ROI, Coverage and D/E ratio.

Return on Investment trend is also providing alarming signs, in 2018 it was 21%, th
to other alternative asset class. The whole picture is clearly visible in companies DF
In 2019, there is a 13% downfall in EBIT causes -0.9% reduction in EPS. DFL in 2019,
in EPS. Quanitively it has been interpreted as 1% change in EBIT will cause only 0.7%
coverage ratio and ROI is in controlled limit. i.e. 16%.
But in 2020, the reduction in EBIT by 53.7% causes reduction in EPS by 25.8%. DFL in
EPS. Here in both the years, the company, there is major change seen in EBIT but it
Leverage.

This is because the proportion debt in cpaital structure is very low i.e. varies from 4
Since, its a manufacturing company, it is very well acceptable that company must ha
maintain low DFL to address the condition of financial distress. And this has been fo

But overall it has been clearly seen that company is in financial distress situtation in
could make the company in Operating cum financial risk. Financials during panedm

See Companies
Debt Ratio
Debt to Reserve Ratios
Debt to Equity Ratio
Interest Coverage Ratio
 ecrease in sales taken the data of last three years. In 2019, the sales increased on YOY basis i.e.
i.e. -15.3%. Degree of Operating Leverage reflects the manifestation of change in sales on EBIT .
cost the company is able to increase in operting profits with greater proprtion then sales.
olumes. Thus, at good times the company is able to take the benefit of operating leverage. But
mic, Industry or Comapny), the EBIT went down sharply because of fixed cost.
ng leverage is good for those companies having strong or consistent flows of Sales. If Sales are
c reasons, then it is not wise to take high operating leverage. Then it may converge to operating

ve growth of EBIT i.e. -13% . It means Maruti Suzuki is not able to take the benefit of operating
ed manufacturing company. The company has faced severe challenges even before COVID-19. The
his industry hits a lot. Few regulatory measures like Demonetisation, GST, NBFC Crisis, BSIV norms
ust by 6.5% the EBIT margin shricks by 13%. This is due to High fixed operating cost and low Income

es i.e. 6.5% , EBIT margin reduced by 13% this is because of high fixed cost and reduced income
it with previous years)

he industry hits a lot and this has been clearly shown in % change in Sales is -15.3% that
ating leverage could be compared with its one peer set company. It means during
ly that has been captured by DOL. DOL in 2020 is 3.506 It means if sales reduces by 1% the

d takes momentum in economic activities, industry will recover from regulatory measures
e in sales will increase its sales by 3.5% (according to DOL of 2020).

firm is utilizing fixed financial cost i.e. Interest levied on Borrowed fund. The theory sugeests that
age or spurs the EPS of the company. As the cost of borrowed source of capital is lesser than Cost of
efit helps firm to increase its EPS and this is also called financial leverage/ capital gearing. For taking
he Return on investments, Consistent Cash Flows , Reserves or Debt to Equity Ratio and Interest

2020, the company's operating profits i.e. (EBIT) has been consistently detoriating, i.e. by 13% and
.e. -25%. On the other hand during these challenging periods the debt proprtion in capital structure
bt in capital structure (that is good since having high Operating Leverage), the YOY growth of Debt is
m 2019 to 2020 came down to 28 from 107 times. It is really critical for the company and during these
ng the signal of financial distress. But the good point is debt proption is vey low. Taking debt depends

ns, in 2018 it was 21%, then in 2019 it was 16% and in 2020 it was 7%. That is very less if compared
rly visible in companies DFL.
uction in EPS. DFL in 2019, which is low i.e. 0.07 it means % change in EBIT will cause lesser reduction
in EBIT will cause only 0.7% change in EPS. This is beecause in 2019 the company is having high

tion in EPS by 25.8%. DFL in 2020, which is 0.48, it means 1% change in EBIT causes 4.8% change in
 bt in capital structure (that is good since having high Operating Leverage), the YOY growth of Debt is
m 2019 to 2020 came down to 28 from 107 times. It is really critical for the company and during these
ng the signal of financial distress. But the good point is debt proption is vey low. Taking debt depends

ns, in 2018 it was 21%, then in 2019 it was 16% and in 2020 it was 7%. That is very less if compared
rly visible in companies DFL.
uction in EPS. DFL in 2019, which is low i.e. 0.07 it means % change in EBIT will cause lesser reduction
in EBIT will cause only 0.7% change in EPS. This is beecause in 2019 the company is having high

tion in EPS by 25.8%. DFL in 2020, which is 0.48, it means 1% change in EBIT causes 4.8% change in
change seen in EBIT but it does not impacted proportionaetly on EPS because of LOW Financial

very low i.e. varies from 4.9% to 5.5% (it could be compared with peer set company).
able that company must have high fixed cost means high DOL and in such a case the company should
tress. And this has been followed by Maruti.

ancial distress situtation in terms of sluggish EBIT, increasing D/E ratio, detrorating ROI. Taking debt
Financials during panedmic could be treated as outliers.
 2018 2019 2020
Days of Accounts Rec
Table 1.4
Revenue 786405000 840928000 729207000
Accounts Rec 14654000 23128000 21298000
Days Reciev 6.708299159 9.9010616842 10.5145452526
YOY% 47.59% 6.20%

Days of Accounts Payable

Table 1.5
Cost of Rev 588904000 641437000 570297000
Accounts Payable 104993000 96377000 74988000
Days Payables 64.18275305 54.090612172 47.3361774654
YOY% -15.72% -12.49%

Table 1.3
Inventory 31602000 33226000 32139000
Days Inv Turnover 19.31846277 18.647754963 20.2877448067
YOY% -3% 9%

Table 1.1
Current Assets/ Gross WC 79300000 123727000 84406000
56% -32%
Current Liabilities 154485000 141605000 113054000
Net Working Capital -75185000 -17878000 -28648000
Current Ratio 0.513318445 0.8737473959 0.7465989704

Table 1.2
EBIT YOY %
2018 94057000
2019 81790000 -0.130420915
2020 37859000 -0.537119452
 Working Capital is the blood of any organization. Broadly the companies needs funds for long term pro
meet is day to day operational cost, it requires funds i.e. to pay rent, purchase of Raw maetrial, pay to
expensies etc. Managing working capital is crucial and challenging task. Maintaining high working cap
and hence profitability, onthe other hand maintaining low working capital leads to short term illiquidi
required the trade off among risk and return.
Working capital can be calculated as Gross working capital and Net Working Capital. Gross working ca
Cash, Accounts recievables, Inventories, Prepaid Exp etc. A CFO and financial analyst has to check Gro
the composition, pattern and the growth of each component of current asset. Current asset is those
meet out short term financial obligations.
In Maruti Suzuki, the data fetched through Yahoo finance does not provides its components thus, the
consolidated basis see table 1.1. Current asset from 2018 to 2019 has increased by 56% but during th
32%. And which is rationale. If we will se the EBIT % YOY growth (see. Table 1.2) has been reduced dra
maintaining high CA is not rationale decision.
Now the next is Net Working capital, it has been seen in Table 1.1. that Current liabilities are in greate
current ratio maintaing by the company is varrying from 0.51 to 0.87. That is very low er then the idea
empirically that the ideal current ratios varrying from industry to industry. But before giving the interp
industry averages or peer set companies. During pandemic, the current liabilities reduces from 2019 w
the overall policy is quite aggressive while maintaning its current ratio. Thus, the net working capital v

Moving ahead on Operating Cycle , which is crucial to understand the overall turnover of the company
recieving of cash after meeting payments of accounts payables.
Gross Operating Cycle = Inventory Conversion Period + Accounts Recievables Conversion Period

Firstly, we calculate the Inventory Conversion Period= RM conversion period+ WIP Conversion Period+
But for Maruti, this is the limitation of the data fecthed through yahoo finance, that components are b
company it has been provided in Notes to Accounts secton. Thus, taking into consideration of the lim
done inventory iteself. The data has been taken from balance sheet of the company in current asset se
Days of Inventory conversion period= Inventory/ Cost of Rev
Cost of revenue data is given in Income statement.
This has been captured that inventory conversion period (see table 1.3)has been detoriated by 3% and
inventory conterted in cash in lesser time from previous year. During pandemic it has increased signifi
Comapre it with Peer set18 days and in 2020 it was 20 days, it has been expected due to lowering down of demand and low ec
company
Next, Accounts Recievable Conversion Period has been encapsulated in Table 1.4. , the days are varryi
and it is showing increasing trend. The increasing trend could be because of the impact of recession a
libralised credit policy to its distributors. Further this needs to be compared with its peerset company.
The accounts payable period, has been reducing on YOY basis from 2018 to 2020. The days payable va
company is facing stringent credit policies from its suppliers. Shrinking days of payables and increasing
company.
But the days of payables are greater than days of recievables, that provides smooth running of oprtain
nies needs funds for long term projects and to meet day to day expenses. To
purchase of Raw maetrial, pay to creditors short term loans, salaries, direct
sk. Maintaining high working capital leads to lowering down of investments
apital leads to short term illiquidity. Thus, it treats as two edged sword and

Working Capital. Gross working capital mean sum of all current assets i.e.
financial analyst has to check Gross working capital thoroughly to undersatnd
rent asset. Current asset is those asset that can easily converted into cash to

rovides its components thus, the analysis on current asset has been done on
as increased by 56% but during the times of pandemic the CA reduced by
e. Table 1.2) has been reduced drastically and during these circumstances

hat Current liabilities are in greater proportion of Current Liabilities. The

. That is very low er then the ideal situation but in finance it has been seen
ustry. But before giving the interpretation, ideally it should be compared with
ent liabilities reduces from 2019 which is positive in these circumsatnces. But
o. Thus, the net working capital values are negative.

e overall turnover of the company right from supply of raw material till

ievables Conversion Period

n period+ WIP Conversion Period+ FG Conversion Period.

oo finance, that components are being not given . But in Annual report of the
king into consideration of the limitation of the data, the analysis has been
of the company in current asset section.

1.3)has been detoriated by 3% and that is good for the company. It means the
pandemic it has increased significantly i.e. by 9% . previously the days were
ering down of demand and low economic activities.
in Table 1.4. , the days are varrying in last three years that is from 6.7 to 10.5
ause of the impact of recession an d pandemic, the company is providing
mpared with its peerset company.
018 to 2020. The days payable varrying from 64 to 47 days. It means the
ng days of payables and increasing days of recievables is not good for the

rovides smooth running of oprtaing cycle.

Capital St Threories Debt
Debt Debt
Favor OF CS Unfav

NI
Durand

CS
Inc Debt
Ke remain Same
KO reduce
Value of the Firm
Option1
Assumptions
1. Kd<Ke Debt Ratio 0%
2. No Taxes Equity Ratio 100%
3. Ke remains const TC 1000
4. Kd is also constant
Debt Value 0
20 Crores Equity Lakhs 1000
Plan-1 Plan-2
Equity 15 CR 10Cr EBIT 100
Debt 5 Cr 10Cr Int 0
Interest Change 6% 6% EBT 100
Tax 0
PAT 100
Ke 11.50%
Vf EBIT/KO Ve 869.5652
Ve PAT/Ke Vf 869.5652
Vd VF-VD
Int/Kd Ko 11.50%
Debt Effect
NOI Durand
Benefit derived because low cost of debt has been neutralised
From the high expectation of equity expectation
0% 25% 50%
Ke 11.50% 13% 16%

Assumptions
1. No Taxes
2. COC/ Ko remains constant 18%
3. Kd VF EBIT/Ko
4. NOI of the Firm -- Constant
Question

RMCP
Avg RM 25
Cost of RM Consumed 70
RMCP 130.3571

WIPCP
Avg WC 40
Cost of Production 110 (Cost Rm Consumed+O/S WIP+Direct Exp)-CS WIP
WIPCP 132.7273

FGCP
Avg FG 25
Cost of Goods Sold 180
FGCP 50.69444

Debtors CP
Avg Debtors 43
Revenue 240
Debtors CP 65.39583

Creditors CP
Avg Creditors 27
Credit Purchases 80
Creditors CP 123.1875

Inv Turnover Days 313.7789

Gross OS 379.1747
Net OS 255.9872
Ke 11.50%
Kd 10%
NOI/EBIT 100 Lakhs Total Fund 1000

Increase Debt proportion 25%

Lakhs
Option2 Option3 Option4 Option5

25% 50% 75% 100%

75% 50% 25% 0%
1000 1000 1000 1000

250 500 750 1000

750 500 250 0

100 100 100 100

25 50 75 100
75 50 25 0
0 0 0 0
75 50 25 0
11.50% 11.50% 11.50% 11.50%
652.1739 434.7826 217.391304347826 0
902.1739 934.7826 967.391304347826 1000

11.08% 10.70% 10.34% 10.00%

Exp)-CS WIP