K= 500000

P= 0

r σ
f= ALR 4% 0
s= AR 14% 0.2

Portafolio Ws Wf Rs σs
A 100% 0% 14.00% 0.2000
B 99% 1% 13.90% 0.1980
C 98% 2% 13.80% 0.1960
D 97% 3% 13.70% 0.1940
E 96% 4% 13.60% 0.1920
F 95% 5% 13.50% 0.1900
G 94% 6% 13.40% 0.1880 1
H 93% 7% 13.30% 0.1860 0.9
I 92% 8% 13.20% 0.1840
0.8
J 91% 9% 13.10% 0.1820
K 90% 10% 13.00% 0.1800 0.7
L 89% 11% 12.90% 0.1780 0.6
M 88% 12% 12.80% 0.1760
0.5
N 87% 13% 12.70% 0.1740
O 86% 14% 12.60% 0.1720 0.4
P 85% 15% 12.50% 0.1700 0.3
Q 84% 16% 12.40% 0.1680 0.2
R 83% 17% 12.30% 0.1660
0.1
S 82% 18% 12.20% 0.1640
T 81% 19% 12.10% 0.1620 0
U 80% 20% 12.00% 0.1600 0 20
V 79% 21% 11.90% 0.1580
W 78% 22% 11.80% 0.1560
X 77% 23% 11.70% 0.1540
Y 76% 24% 11.60% 0.1520
Z 75% 25% 11.50% 0.1500
AA 74% 26% 11.40% 0.1480
AB 73% 27% 11.30% 0.1460
AC 72% 28% 11.20% 0.1440
AD 71% 29% 11.10% 0.1420
AF 70% 30% 11.00% 0.1400
AG 69% 31% 10.90% 0.1380
AH 68% 32% 10.80% 0.1360
AI 67% 33% 10.70% 0.1340
AJ 66% 34% 10.60% 0.1320
AK 65% 35% 10.50% 0.1300
AL 64% 36% 10.40% 0.1280
AM 63% 37% 10.30% 0.1260
AN 62% 38% 10.20% 0.1240
AO 61% 39% 10.10% 0.1220
AP 60% 40% 10.00% 0.1200
AQ 59% 41% 9.90% 0.1180
AR 58% 42% 9.80% 0.1160
AS 57% 43% 9.70% 0.1140
AT 56% 44% 9.60% 0.1120
AU 55% 45% 9.50% 0.1100
AV 54% 46% 9.40% 0.1080
AW 53% 47% 9.30% 0.1060
AX 52% 48% 9.20% 0.1040
AY 51% 49% 9.10% 0.1020
AZ 50% 50% 9.00% 0.1000
BA 49% 51% 8.90% 0.0980
BB 48% 52% 8.80% 0.0960
BC 47% 53% 8.70% 0.0940
BD 46% 54% 8.60% 0.0920
BE 45% 55% 8.50% 0.0900
BF 44% 56% 8.40% 0.0880
BG 43% 57% 8.30% 0.0860
BH 42% 58% 8.20% 0.0840
BI 41% 59% 8.10% 0.0820
BJ 40% 60% 8.00% 0.0800
BK 39% 61% 7.90% 0.0780
BL 38% 62% 7.80% 0.0760
BM 37% 63% 7.70% 0.0740
BN 36% 64% 7.60% 0.0720
BO 35% 65% 7.50% 0.0700
BP 34% 66% 7.40% 0.0680
BQ 33% 67% 7.30% 0.0660
BR 32% 68% 7.20% 0.0640
BS 31% 69% 7.10% 0.0620
BT 30% 70% 7.00% 0.0600
BU 29% 71% 6.90% 0.0580
BV 28% 72% 6.80% 0.0560
BW 27% 73% 6.70% 0.0540
BX 26% 74% 6.60% 0.0520
BY 25% 75% 6.50% 0.0500
BZ 24% 76% 6.40% 0.0480
CA 23% 77% 6.30% 0.0460
CB 22% 78% 6.20% 0.0440
CC 21% 79% 6.10% 0.0420
CD 20% 80% 6.00% 0.0400
CE 19% 81% 5.90% 0.0380
CF 18% 82% 5.80% 0.0360
CG 17% 83% 5.70% 0.0340
CH 16% 84% 5.60% 0.0320
CI 15% 85% 5.50% 0.0300
CJ 14% 86% 5.40% 0.0280
CK 13% 87% 5.30% 0.0260
CL 12% 88% 5.20% 0.0240
CM 11% 89% 5.10% 0.0220
CN 10% 90% 5.00% 0.0200
CO 9% 91% 4.90% 0.0180
CP 8% 92% 4.80% 0.0160
CQ 7% 93% 4.70% 0.0140
CR 6% 94% 4.60% 0.0120
CS 5% 95% 4.50% 0.0100
CT 4% 96% 4.40% 0.0080
CU 3% 97% 4.30% 0.0060
CV 2% 98% 4.20% 0.0040
CW 1% 99% 4.10% 0.0020
CX 0% 100% 4.00% 0.0000
 1
0.9
0.8
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0
0 20 40 60 80 100 120
 K= 800000 σ12 = P12 * σs1 * σs2
P= -0.63 σ12 = -0.0189

r σ
f= ALR 4% 0
s1 = AR1 14% 0.2
s2 = AR2 9% 0.15

Portafolio Ws1 Ws2 Rs σs Rp σp

A 100% 0% 14.00% 0.200
B 99% 1% 13.95% 0.197
C 98% 2% 13.90% 0.194
D 97% 3% 13.85% 0.191
E 96% 4% 13.80% 0.188
F 95% 5% 13.75% 0.185
G 94% 6% 13.70% 0.182
H 93% 7% 13.65% 0.180 Ws1* = 45.10%
I 92% 8% 13.60% 0.177 100.00%
J 91% 9% 13.55% 0.174
K 90% 10% 13.50% 0.171
L 89% 11% 13.45% 0.168 Ws2* = 54.90%
M 88% 12% 13.40% 0.165
N 87% 13% 13.35% 0.162
O 86% 14% 13.30% 0.160
P 85% 15% 13.25% 0.157 Rs* = 11.25%
Q 84% 16% 13.20% 0.154
R 83% 17% 13.15% 0.151
S 82% 18% 13.10% 0.148
T 81% 19% 13.05% 0.146
U 80% 20% 13.00% 0.143 σs* = 0.0746
V 79% 21% 12.95% 0.140
W 78% 22% 12.90% 0.138
X 77% 23% 12.85% 0.135 AR 80%
Y 76% 24% 12.80% 0.132 ALR 20%
Z 75% 25% 12.75% 0.130
AA 74% 26% 12.70% 0.127
AB 73% 27% 12.65% 0.125 Rp* = 0.0980
AC 72% 28% 12.60% 0.122
AD 71% 29% 12.55% 0.119
AF 70% 30% 12.50% 0.117 σp* = 0.0596
AG 69% 31% 12.45% 0.115
AH 68% 32% 12.40% 0.112
AI 67% 33% 12.35% 0.110
AJ 66% 34% 12.30% 0.107
AK 65% 35% 12.25% 0.105
AL 64% 36% 12.20% 0.103 Ws1min = 41.28%
AM 63% 37% 12.15% 0.101
AN 62% 38% 12.10% 0.099
AO 61% 39% 12.05% 0.097
AP 60% 40% 12.00% 0.094 Ws2min = 58.72%
AQ 59% 41% 11.95% 0.093
AR 58% 42% 11.90% 0.091
AS 57% 43% 11.85% 0.089 Rsmin = 11.06%
AT 56% 44% 11.80% 0.087
AU 55% 45% 11.75% 0.085
AV 54% 46% 11.70% 0.084
AW 53% 47% 11.65% 0.082 σsmin = 0.0736
AX 52% 48% 11.60% 0.081
AY 51% 49% 11.55% 0.080
AZ 50% 50% 11.50% 0.079 AR 80%
BA 49% 51% 11.45% 0.078 ALR 20%
BB 48% 52% 11.40% 0.077
BC 47% 53% 11.35% 0.076
BD 46% 54% 11.30% 0.075 Rpmin = 9.65%
BE 45% 55% 11.25% 0.075
BF 44% 56% 11.20% 0.074
BG 43% 57% 11.15% 0.074 σpmin = 0.0589
BH 42% 58% 11.10% 0.074
BI 41% 59% 11.05% 0.074
BJ 40% 60% 11.00% 0.074 ACTIVOS PESOS UTILIDAD
BK 39% 61% 10.95% 0.074 ALR 160,000.006400
BL 38% 62% 10.90% 0.074 AR1 288,609.7440405.36344
BM 37% 63% 10.85% 0.075 AR2 351,390.2631625.1235
BN 36% 64% 10.80% 0.075 SUMA 800,000.0078,430.49
BO 35% 65% 10.75% 0.076
BP 34% 66% 10.70% 0.077 ROI =
BQ 33% 67% 10.65% 0.078 ROI = 9.80%
BR 32% 68% 10.60% 0.079
BS 31% 69% 10.55% 0.080
1
BT 30% 70% 10.50% 0.082
0.9
BU 29% 71% 10.45% 0.083 0.8
BV 28% 72% 10.40% 0.085 0.7
BW 27% 73% 10.35% 0.086 0.6
0.5
BX 26% 74% 10.30% 0.088
0.4
BY 25% 75% 10.25% 0.090 0.3
BZ 24% 76% 10.20% 0.092 0.2
CA 23% 77% 10.15% 0.094 0.1
0
CB 22% 78% 10.10% 0.096
0 20 40 60 80 100 120
CC 21% 79% 10.05% 0.098
CD 20% 80% 10.00% 0.100
CE 19% 81% 9.95% 0.102
CF 18% 82% 9.90% 0.104
CG 17% 83% 9.85% 0.106
CH 16% 84% 9.80% 0.109
CI 15% 85% 9.75% 0.111
CJ 14% 86% 9.70% 0.113
CK 13% 87% 9.65% 0.116
CL 12% 88% 9.60% 0.118
CM 11% 89% 9.55% 0.121
CN 10% 90% 9.50% 0.123
CO 9% 91% 9.45% 0.126
CP 8% 92% 9.40% 0.129
CQ 7% 93% 9.35% 0.131
CR 6% 94% 9.30% 0.134
CS 5% 95% 9.25% 0.136
CT 4% 96% 9.20% 0.139
CU 3% 97% 9.15% 0.142
CV 2% 98% 9.10% 0.145
CW 1% 99% 9.05% 0.147
CX 0% 100% 9.00% 0.150
O* 45.10% 54.90% 11.25% 0.0746 0.0980 0.0596
Min 41.28% 58.72% 11.06% 0.0736 9.65% 0.0589
 800000
160,000.00
40405.36344 640,000.00

40 60 80 100 120
K= 800000 σ12 = P12 * σs1 * σs2
P= -0.16 σ12 = -0.0048

r σ
f= ALR 4% 0
s1 = AR1 14% 0.2
s2 = AR2 9% 0.15

Portaf. Ws1 Ws2 Rs σs Rp σp

A 100% 0% 14.00% 0.200
B 99% 1% 13.95% 0.198
C 98% 2% 13.90% 0.196
D 97% 3% 13.85% 0.193
E 96% 4% 13.80% 0.191
F 95% 5% 13.75% 0.189
G 94% 6% 13.70% 0.187
H 93% 7% 13.65% 0.185 Ws1* =50.10%
I 92% 8% 13.60% 0.182
J 91% 9% 13.55% 0.180
K 90% 10% 13.50% 0.178
L 89% 11% 13.45% 0.176 Ws2* =49.90%
M 88% 12% 13.40% 0.174
N 87% 13% 13.35% 0.172
O 86% 14% 13.30% 0.170
P 85% 15% 13.25% 0.168 Rs* = 11.51%
Q 84% 16% 13.20% 0.166
R 83% 17% 13.15% 0.164
S 82% 18% 13.10% 0.162
T 81% 19% 13.05% 0.160
U 80% 20% 13.00% 0.158 σs* = 0.1151
V 79% 21% 12.95% 0.156
W 78% 22% 12.90% 0.154
X 77% 23% 12.85% 0.152 AR 80%
Y 76% 24% 12.80% 0.150 ALR 20%
Z 75% 25% 12.75% 0.149
AA 74% 26% 12.70% 0.147
AB 73% 27% 12.65% 0.145 Rp* = 0.1000
AC 72% 28% 12.60% 0.143
AD 71% 29% 12.55% 0.142
AF 70% 30% 12.50% 0.140 σp* = 0.0921
AG 69% 31% 12.45% 0.138
AH 68% 32% 12.40% 0.137
AI 67% 33% 12.35% 0.135
AJ 66% 34% 12.30% 0.134
AK 65% 35% 12.25% 0.132
AL 64% 36% 12.20% 0.131 Ws1min
37.86%
AM 63% 37% 12.15% 0.129
AN 62% 38% 12.10% 0.128
AO 61% 39% 12.05% 0.127
1
AP 60% 40% 12.00% 0.125 Ws2min
62.14%
0.9
AQ 59% 41% 11.95% 0.124
0.8
AR 58% 42% 11.90% 0.123
AS 57% 43% 11.85% 0.122 Rsmin 10.89% 0.7
AT 56% 44% 11.80% 0.121 0.6
AU 55% 45% 11.75% 0.120 0.5
AV 54% 46% 11.70% 0.118 0.4
AW 53% 47% 11.65% 0.118 σsmin 0.1103 0.3
AX 52% 48% 11.60% 0.117 0.2
AY 51% 49% 11.55% 0.116 0.1
AZ 50% 50% 11.50% 0.115 AR 80% 0
BA 49% 51% 11.45% 0.114 ALR 20% 0 20 40 60 8
BB 48% 52% 11.40% 0.114
BC 47% 53% 11.35% 0.113
BD 46% 54% 11.30% 0.112 Rpmin 9.51%
BE 45% 55% 11.25% 0.112
BF 44% 56% 11.20% 0.112
BG 43% 57% 11.15% 0.111 σpmin 0.0882
BH 42% 58% 11.10% 0.111
BI 41% 59% 11.05% 0.111
BJ 40% 60% 11.00% 0.110 ACTIVOS PESOS UTILIDAD
BK 39% 61% 10.95% 0.110 ALR 160,000.00 6400
BL 38% 62% 10.90% 0.110 AR1 320,643.86 44890.14085
BM 37% 63% 10.85% 0.110 AR2 319,356.14 28742.05231
BN 36% 64% 10.80% 0.110 SUMA 800,000.00 80,032.19
BO 35% 65% 10.75% 0.111
BP 34% 66% 10.70% 0.111 ROI =
BQ 33% 67% 10.65% 0.111 ROI = 10.00%
BR 32% 68% 10.60% 0.111
BS 31% 69% 10.55% 0.112
BT 30% 70% 10.50% 0.112
BU 29% 71% 10.45% 0.113
BV 28% 72% 10.40% 0.113
BW 27% 73% 10.35% 0.114
BX 26% 74% 10.30% 0.115
BY 25% 75% 10.25% 0.116
BZ 24% 76% 10.20% 0.116
CA 23% 77% 10.15% 0.117
CB 22% 78% 10.10% 0.118
CC 21% 79% 10.05% 0.119
CD 20% 80% 10.00% 0.120
CE 19% 81% 9.95% 0.121
CF 18% 82% 9.90% 0.123
CG 17% 83% 9.85% 0.124
CH 16% 84% 9.80% 0.125
CI 15% 85% 9.75% 0.126
CJ 14% 86% 9.70% 0.128
CK 13% 87% 9.65% 0.129
CL 12% 88% 9.60% 0.130
CM 11% 89% 9.55% 0.132
CN 10% 90% 9.50% 0.133
CO 9% 91% 9.45% 0.135
CP 8% 92% 9.40% 0.136
CQ 7% 93% 9.35% 0.138
CR 6% 94% 9.30% 0.140
CS 5% 95% 9.25% 0.141
CT 4% 96% 9.20% 0.143
CU 3% 97% 9.15% 0.145
CV 2% 98% 9.10% 0.146
CW 1% 99% 9.05% 0.148
CX 0% 100% 9.00% 0.150
O* 50.10% 49.90% 11.51% 0.1151 0.1000 0.0921
Min 37.86% 62.14% 10.89% 0.1103 9.51% 0.0882
 1
0.9
0.8
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0
0 20 40 60 80 100 120

800000
160,000.00
640,000.00
K= 800000 σ12 = P12 * σs1 * σs2
P= 0.58 σ12 = 0.0174

r σ
f= ALR 4% 0
s1 = AR1 14% 0.2
s2 = AR2 9% 0.15

Portafolio Ws1 Ws2 Rs σs Rp σp

A 100% 0% 14.00% 0.200
B 99% 1% 13.95% 0.199
C 98% 2% 13.90% 0.198
D 97% 3% 13.85% 0.197
E 96% 4% 13.80% 0.196
F 95% 5% 13.75% 0.194
G 94% 6% 13.70% 0.193
H 93% 7% 13.65% 0.192 Ws1* = 84.15%
I 92% 8% 13.60% 0.191
J 91% 9% 13.55% 0.190
K 90% 10% 13.50% 0.189
L 89% 11% 13.45% 0.188 Ws2* = 15.85%
M 88% 12% 13.40% 0.187
N 87% 13% 13.35% 0.186
O 86% 14% 13.30% 0.185 1
0.9
P 85% 15% 13.25% 0.184 Rs* = 13.21% 0.8
Q 84% 16% 13.20% 0.183 0.7
R 83% 17% 13.15% 0.182 0.6
S 82% 18% 13.10% 0.181 0.5
0.4
T 81% 19% 13.05% 0.180
0.3
U 80% 20% 13.00% 0.179 σs* = 0.1831 0.2
V 79% 21% 12.95% 0.178 0.1
W 78% 22% 12.90% 0.177 0
X 77% 23% 12.85% 0.176 AR 80% 0 20 40 60 80
Y 76% 24% 12.80% 0.175 ALR 20%
Z 75% 25% 12.75% 0.174
AA 74% 26% 12.70% 0.174
AB 73% 27% 12.65% 0.173 Rp* = 0.1137
AC 72% 28% 12.60% 0.172
AD 71% 29% 12.55% 0.171
AF 70% 30% 12.50% 0.170 σp* = 0.1465
AG 69% 31% 12.45% 0.169
AH 68% 32% 12.40% 0.168
AI 67% 33% 12.35% 0.168
AJ 66% 34% 12.30% 0.167
AK 65% 35% 12.25% 0.166
AL 64% 36% 12.20% 0.165 Ws1min 18.41%
AM 63% 37% 12.15% 0.165
AN 62% 38% 12.10% 0.164
AO 61% 39% 12.05% 0.163
AP 60% 40% 12.00% 0.162 Ws2min 81.59%
AQ 59% 41% 11.95% 0.162
AR 58% 42% 11.90% 0.161
AS 57% 43% 11.85% 0.160 Rsmin = 9.92%
AT 56% 44% 11.80% 0.160
AU 55% 45% 11.75% 0.159
AV 54% 46% 11.70% 0.158
AW 53% 47% 11.65% 0.158 σsmin = 0.1468
AX 52% 48% 11.60% 0.157
AY 51% 49% 11.55% 0.157
AZ 50% 50% 11.50% 0.156 AR 80%
BA 49% 51% 11.45% 0.155 ALR 20%
BB 48% 52% 11.40% 0.155
BC 47% 53% 11.35% 0.154
BD 46% 54% 11.30% 0.154 Rpmin = 8.74%
BE 45% 55% 11.25% 0.153
BF 44% 56% 11.20% 0.153
BG 43% 57% 11.15% 0.152 σpmin = 0.1175
BH 42% 58% 11.10% 0.152
BI 41% 59% 11.05% 0.152
BJ 40% 60% 11.00% 0.151 ACTIVOS PESOS UTILIDAD
BK 39% 61% 10.95% 0.151 ALR 160,000.006400
BL 38% 62% 10.90% 0.150 AR1 538,536.5975395.12195
BM 37% 63% 10.85% 0.150 AR2 101,463.419131.707317
BN 36% 64% 10.80% 0.150 SUMA 800,000.0090,926.83
BO 35% 65% 10.75% 0.149
BP 34% 66% 10.70% 0.149 ROI =
BQ 33% 67% 10.65% 0.149 ROI = 11.37%
BR 32% 68% 10.60% 0.149
BS 31% 69% 10.55% 0.148
BT 30% 70% 10.50% 0.148
BU 29% 71% 10.45% 0.148
BV 28% 72% 10.40% 0.148
BW 27% 73% 10.35% 0.148
BX 26% 74% 10.30% 0.147
BY 25% 75% 10.25% 0.147
BZ 24% 76% 10.20% 0.147
CA 23% 77% 10.15% 0.147
CB 22% 78% 10.10% 0.147
CC 21% 79% 10.05% 0.147
CD 20% 80% 10.00% 0.147
CE 19% 81% 9.95% 0.147
CF 18% 82% 9.90% 0.147
CG 17% 83% 9.85% 0.147
CH 16% 84% 9.80% 0.147
CI 15% 85% 9.75% 0.147
CJ 14% 86% 9.70% 0.147
CK 13% 87% 9.65% 0.147
CL 12% 88% 9.60% 0.147
CM 11% 89% 9.55% 0.147
CN 10% 90% 9.50% 0.148
CO 9% 91% 9.45% 0.148
CP 8% 92% 9.40% 0.148
CQ 7% 93% 9.35% 0.148
CR 6% 94% 9.30% 0.148
CS 5% 95% 9.25% 0.149
CT 4% 96% 9.20% 0.149
CU 3% 97% 9.15% 0.149
CV 2% 98% 9.10% 0.149
CW 1% 99% 9.05% 0.150
CX 0% 100% 9.00% 0.150
O* 84.15% 15.85% 13.21% 0.1831 0.1137 0.1465
Min 18.41% 81.59% 9.92% 0.1468 8.74% 0.1175
0 20 40 60 80 100 120
800000
160,000.00
640,000.00
K= 800000 σ12 = P12 * σs1 * σs2
P= 0.91 σ12 = 0.0273

r σ
f= ALR 4% 0
s1 = AR1 14% 0.2
s2 = AR2 9% 0.15

Portafolio Ws1 Ws2 Rs σs Rp σp

A 100% 0% 14.00% 0.200
B 99% 1% 13.95% 0.199
C 98% 2% 13.90% 0.199
D 97% 3% 13.85% 0.198
E 96% 4% 13.80% 0.197
F 95% 5% 13.75% 0.197
G 94% 6% 13.70% 0.196
H 93% 7% 13.65% 0.196 Ws1* = 570.97%
I 92% 8% 13.60% 0.195
J 91% 9% 13.55% 0.194
K 90% 10% 13.50% 0.194
L 89% 11% 13.45% 0.193 Ws2* = -470.97% 1
M 88% 12% 13.40% 0.193 0.9
0.8
N 87% 13% 13.35% 0.192
0.7
O 86% 14% 13.30% 0.191
0.6
P 85% 15% 13.25% 0.191 Rs* = 37.55% 0.5
Q 84% 16% 13.20% 0.190 0.4
R 83% 17% 13.15% 0.190 0.3
S 82% 18% 13.10% 0.189 0.2
T 81% 19% 13.05% 0.188 0.1
U 80% 20% 13.00% 0.188 σs* = 0.5787 0
V 79% 21% 12.95% 0.187 0 20 40 60 8
W 78% 22% 12.90% 0.187
X 77% 23% 12.85% 0.186 AR 80%
Y 76% 24% 12.80% 0.185 ALR 20%
Z 75% 25% 12.75% 0.185
AA 74% 26% 12.70% 0.184
AB 73% 27% 12.65% 0.184 Rp* = 0.3084
AC 72% 28% 12.60% 0.183
AD 71% 29% 12.55% 0.182
AF 70% 30% 12.50% 0.182 σp* = 0.4629
AG 69% 31% 12.45% 0.181
AH 68% 32% 12.40% 0.181
AI 67% 33% 12.35% 0.180
AJ 66% 34% 12.30% 0.180
AK 65% 35% 12.25% 0.179
AL 64% 36% 12.20% 0.179 Ws1min =-60.76%
AM 63% 37% 12.15% 0.178
AN 62% 38% 12.10% 0.177
AO 61% 39% 12.05% 0.177
AP 60% 40% 12.00% 0.176 Ws2min =-39.24%
AQ 59% 41% 11.95% 0.176
AR 58% 42% 11.90% 0.175
AS 57% 43% 11.85% 0.175 Rsmin = -12.04%
AT 56% 44% 11.80% 0.174
AU 55% 45% 11.75% 0.174
AV 54% 46% 11.70% 0.173
AW 53% 47% 11.65% 0.173 σsmin = 0.1768
AX 52% 48% 11.60% 0.172
AY 51% 49% 11.55% 0.172
AZ 50% 50% 11.50% 0.171 AR 80%
BA 49% 51% 11.45% 0.171 ALR 20%
BB 48% 52% 11.40% 0.170
BC 47% 53% 11.35% 0.170
BD 46% 54% 11.30% 0.169 Rpmin = -8.83%
BE 45% 55% 11.25% 0.169
BF 44% 56% 11.20% 0.168
BG 43% 57% 11.15% 0.168 σpmin = 0.1414
BH 42% 58% 11.10% 0.167
BI 41% 59% 11.05% 0.167
BJ 40% 60% 11.00% 0.166 ACTIVOS PESOS UTILIDAD
BK 39% 61% 10.95% 0.166 ALR 160,000.00 6400
BL 38% 62% 10.90% 0.165 AR1 3,654,193.55 511587.0968
BM 37% 63% 10.85% 0.165 AR2 -3,014,193.55 -271277.4194
BN 36% 64% 10.80% 0.164 SUMA 800,000.00 246,709.68
BO 35% 65% 10.75% 0.164
BP 34% 66% 10.70% 0.163 ROI =
BQ 33% 67% 10.65% 0.163 ROI = 30.84%
BR 32% 68% 10.60% 0.162
BS 31% 69% 10.55% 0.162
BT 30% 70% 10.50% 0.162
BU 29% 71% 10.45% 0.161
BV 28% 72% 10.40% 0.161
BW 27% 73% 10.35% 0.160
BX 26% 74% 10.30% 0.160
BY 25% 75% 10.25% 0.159
BZ 24% 76% 10.20% 0.159
CA 23% 77% 10.15% 0.159
CB 22% 78% 10.10% 0.158
CC 21% 79% 10.05% 0.158
CD 20% 80% 10.00% 0.157
CE 19% 81% 9.95% 0.157
CF 18% 82% 9.90% 0.156
CG 17% 83% 9.85% 0.156
CH 16% 84% 9.80% 0.156
CI 15% 85% 9.75% 0.155
CJ 14% 86% 9.70% 0.155
CK 13% 87% 9.65% 0.155
CL 12% 88% 9.60% 0.154
CM 11% 89% 9.55% 0.154
CN 10% 90% 9.50% 0.153
CO 9% 91% 9.45% 0.153
CP 8% 92% 9.40% 0.153
CQ 7% 93% 9.35% 0.152
CR 6% 94% 9.30% 0.152
CS 5% 95% 9.25% 0.152
CT 4% 96% 9.20% 0.151
CU 3% 97% 9.15% 0.151
CV 2% 98% 9.10% 0.151
CW 1% 99% 9.05% 0.150
CX 0% 100% 9.00% 0.150
O* 570.97% -470.97% 37.55% 0.5787 0.3084 0.4629
Min -60.76% -39.24% -12.04% 0.1768 -8.83% 0.1414
 1
0.9
0.8
0.7
0.6
0.5
0.4
0.3
0.2
0.1
0
0 20 40 60 80 100 120
800000
160,000.00
640,000.00