Constant return model

Event date 11/11/2022 Stdev 3.00%

Anticipation 10 Stdev (10 days) 9.47%
Adjustment 10 Stdev (21 days) 13.73%
Estimation window 18
Event -1.29%
Average return -0.22% Anticipation -13.60%
Return (CAR)
Alpha -0.13% Adjustment 0.53%
Beta 0.70 Total -14.36%
Event -0.43
Anticipation -1.44
t-stat (CAR)
Adjustment 0.06
Total -1.05

Abnormal returns
Date BTC_Close Nasdaq Crypto Index Return Return Constant return model
3/10/2022 19581.2 1176.53
4/10/2022 20199.9 1209.93 3.16% 2.84% 3.38%
5/10/2022 20331.7 1212.59 0.65% 0.22% 0.88%
6/10/2022 19998.9 1203.11 -1.64% -0.78% -1.41%
7/10/2022 19539.7 1176.83 -2.30% -2.18% -2.07%
10/10/2022 19049.5 1139.25 -2.51% -3.19% -2.29%
11/10/2022 19052.6 1142.06 0.02% 0.25% 0.24%
12/10/2022 19099.7 1147.95 0.25% 0.52% 0.47%
10-13-2022 19825.5 1156.55 3.80% 0.75% 4.02%
10-14-2022 19209.2 1144.02 -3.11% -1.08% -2.89%
10-17-2022 19555.5 1176.93 1.80% 2.88% 2.03%
10-18-2022 19291.4 1157.11 -1.35% -1.68% -1.13%
10-19-2022 19039.8 1143.72 -1.30% -1.16% -1.08%
10-20-2022 19054.3 1136.34 0.08% -0.65% 0.30%
10-21-2022 19135.2 1148.24 0.42% 1.05% 0.65%
10-24-2022 19343.9 1165.59 1.09% 1.51% 1.31%
10-25-2022 20269.4 1232.93 4.78% 5.78% 5.01%
10-26-2022 20742.9 1284.26 2.34% 4.16% 2.56%
10-27-2022 20259.2 1256.53 -2.33% -2.16% -2.11%
10-28-2022 20749.1 1275.84 2.42% 1.54% 2.64%
10-31-2022 20487 1273.75 -1.26% -0.16% -1.04%
1/11/2022 20535.6 1276.79 0.24% 0.24% 0.46%
2/11/2022 20310.6 1250.96 -1.10% -2.02% -0.87%
3/11/2022 20319.9 1260.06 0.05% 0.73% 0.27%
4/11/2022 21404.1 1328.74 5.34% 5.45% 5.56%
7/11/2022 19676.9 1285.18 -8.07% -3.28% -7.85%
8/11/2022 18234.1 1122.42 -7.33% -12.66% -7.11%
9/11/2022 16396.8 981.71 -10.08% -12.54% -9.85%
10/11/2022 17046.5 1080.01 3.96% 10.01% 4.19%
11/11/2022 16789.3 1048.08 -1.51% -2.96% -1.29%
11-14-2022 16767.9 1028.94 -0.13% -1.83% 0.10%
11-15-2022 16916.5 1039.94 0.89% 1.07% 1.11%
11-16-2022 16533.1 1026.54 -2.27% -1.29% -2.04%
11-17-2022 16691.2 1033.01 0.96% 0.63% 1.18%
11-18-2022 16633.8 1020.2 -0.34% -1.24% -0.12%
11-21-2022 15836.8 958.48 -4.79% -6.05% -4.57%
11-22-2022 16508.8 981.91 4.24% 2.44% 4.47%
11-23-2022 16695.9 1021.91 1.13% 4.07% 1.36%
11-25-2022 16627.1 1017.32 -0.41% -0.45% -0.19%
11-28-2022 16462.9 994.4 -0.99% -2.25% -0.76%
11-29-2022 16847 1049.49 2.33% 5.54% 2.56%
11-30-2022 17140.9 1065.2 1.74% 1.50% 1.97%
1/12/2022 16923.6 1059.08 -1.27% -0.57% -1.04%
2/12/2022 17013.2 1065.34 0.53% 0.59% 0.75%
5/12/2022 17010.7 1058.59 -0.01% -0.63% 0.21%
6/12/2022 17020.4 1057.19 0.06% -0.13% 0.28%
7/12/2022 16823 1036.96 -1.16% -1.91% -0.94%
8/12/2022 17193.2 1070.89 2.20% 3.27% 2.42%
9/12/2022 17156.1 1059.16 -0.22% -1.10% 0.01%
12/12/2022 17163.6 1060.54 0.04% 0.13% 0.27%
 Market-adjusted model CAPM
1.79% 1.38%
5.67% 4.38%
8.22% 6.34%

1.45% 0.69%
-3.14% -5.69%
3.18% 2.97%
1.49% -2.03%
0.81 0.50
-0.55 -1.30
0.56 0.68
0.18 -0.32

Abnormal returns
Market-adjusted model CAPM

0.32% 1.30%
0.43% 0.63%
-0.86% -0.96%
-0.11% -0.64%
0.68% -0.15%
-0.23% -0.03%
-0.27% 0.01%
3.05% 3.40%
-2.03% -2.22%
-1.07% -0.08%
0.33% -0.05%
-0.15% -0.37%
0.72% 0.65%
-0.62% -0.18%
-0.42% 0.16%
-0.99% 0.87%
-1.83% -0.45%
-0.17% -0.70%
0.88% 1.47%
-1.10% -1.02%
0.00% 0.20%
0.93% 0.45%
-0.68% -0.34%
-0.11% 1.65%
-4.79% -5.65%
5.33% 1.65%
2.46% -1.18%
-6.05% -2.92%
1.45% 0.69%
1.70% 1.28%
-0.18% 0.26%
-0.98% -1.24%
0.33% 0.64%
0.90% 0.65%
1.26% -0.43%
1.80% 2.66%
-2.94% -1.59%
0.04% 0.03%
1.27% 0.71%
-3.21% -1.42%
0.25% 0.82%
-0.69% -0.74%
-0.06% 0.24%
0.62% 0.55%
0.19% 0.28%
0.75% 0.31%
-1.07% 0.04%
0.88% 0.68%
-0.09% 0.08%
 Constant return model
Event date 11/11/2022 Stdev 4.26%
Anticipation 10 Stdev (10 days) 13.46%
Adjustment 10 Stdev (21 days) 19.51%
Estimation window 18
Event 2.20%
Average return 0.0035% Anticipation -17.50%
Return (CAR)
Alpha 0.140% Adjustment -4.46%
Beta 0.98 Total -19.76%
Event 0.52
Anticipation -1.30
t-stat (CAR)
Adjustment -0.33
Total -1.01

Abnormal returns
Date Ether_Close Nasdaq Crypto Index Return Return Constant return model
3/10/2022 1328.09 1176.53
4/10/2022 1355.43 1209.93 2.06% 2.84% 2.06%
5/10/2022 1370.53 1212.59 1.11% 0.22% 1.11%
6/10/2022 1355.75 1203.11 -1.08% -0.78% -1.08%
7/10/2022 1332.22 1176.83 -1.74% -2.18% -1.74%
10/10/2022 1278.83 1139.25 -4.01% -3.19% -4.01%
11/10/2022 1284.02 1142.06 0.41% 0.25% 0.40%
12/10/2022 1287.14 1147.95 0.24% 0.52% 0.24%
10-13-2022 1329.66 1156.55 3.30% 0.75% 3.30%
10-14-2022 1300.49 1144.02 -2.19% -1.08% -2.20%
10-17-2022 1335.3 1176.93 2.68% 2.88% 2.67%
10-18-2022 1305.71 1157.11 -2.22% -1.68% -2.22%
10-19-2022 1280.15 1143.72 -1.96% -1.16% -1.96%
10-20-2022 1287.88 1136.34 0.60% -0.65% 0.60%
10-21-2022 1297.28 1148.24 0.73% 1.05% 0.73%
10-24-2022 1346.35 1165.59 3.78% 1.51% 3.78%
10-25-2022 1489.34 1232.93 10.62% 5.78% 10.62%
10-26-2022 1552.45 1284.26 4.24% 4.16% 4.23%
10-27-2022 1505.54 1256.53 -3.02% -2.16% -3.03%
10-28-2022 1586.3 1275.84 5.36% 1.54% 5.36%
10-31-2022 1585.57 1273.75 -0.05% -0.16% -0.05%
1/11/2022 1593.1 1276.79 0.47% 0.24% 0.47%
2/11/2022 1548.1 1250.96 -2.82% -2.02% -2.83%
3/11/2022 1548.57 1260.06 0.03% 0.73% 0.03%
4/11/2022 1644.65 1328.74 6.20% 5.45% 6.20%
7/11/2022 1470.31 1285.18 -10.60% -3.28% -10.60%
8/11/2022 1304.99 1122.42 -11.24% -12.66% -11.25%
9/11/2022 1170.95 981.71 -10.27% -12.54% -10.27%
10/11/2022 1234.76 1080.01 5.45% 10.01% 5.45%
11/11/2022 1261.94 1048.08 2.20% -2.96% 2.20%
11-14-2022 1255.58 1028.94 -0.50% -1.83% -0.51%
11-15-2022 1258.15 1039.94 0.20% 1.07% 0.20%
11-16-2022 1204.68 1026.54 -4.25% -1.29% -4.25%
11-17-2022 1205.17 1033.01 0.04% 0.63% 0.04%
11-18-2022 1207.35 1020.2 0.18% -1.24% 0.18%
11-21-2022 1104.92 958.48 -8.48% -6.05% -8.49%
11-22-2022 1163.99 981.91 5.35% 2.44% 5.34%
11-23-2022 1203.24 1021.91 3.37% 4.07% 3.37%
11-25-2022 1220.68 1017.32 1.45% -0.45% 1.45%
11-28-2022 1198.92 994.4 -1.78% -2.25% -1.79%
11-29-2022 1266.41 1049.49 5.63% 5.54% 5.63%
11-30-2022 1283.84 1065.2 1.38% 1.50% 1.37%
1/12/2022 1272.13 1059.08 -0.91% -0.57% -0.92%
2/12/2022 1288.31 1065.34 1.27% 0.59% 1.27%
5/12/2022 1261.9 1058.59 -2.05% -0.63% -2.05%
6/12/2022 1261.55 1057.19 -0.03% -0.13% -0.03%
7/12/2022 1229.46 1036.96 -2.54% -1.91% -2.55%
8/12/2022 1282.51 1070.89 4.31% 3.27% 4.31%
9/12/2022 1265.07 1059.16 -1.36% -1.10% -1.36%
12/12/2022 1272.58 1060.54 0.59% 0.13% 0.59%
 Market-adjusted model CAPM
2.05% 2.05%
6.50% 6.49%
9.41% 9.41%

5.16% 4.96%
-4.76% -6.39%
0.46% -1.02%
0.86% -2.45%
2.51 2.42
-0.73 -0.98
0.07 -0.16
0.09 -0.26

Abnormal returns
Market-adjusted model CAPM

-0.78% -0.87%
0.89% 0.76%
-0.30% -0.45%
0.45% 0.27%
-0.81% -1.01%
0.16% 0.02%
-0.27% -0.40%
2.55% 2.43%
-1.11% -1.27%
-0.20% -0.29%
-0.53% -0.70%
-0.80% -0.96%
1.25% 1.10%
-0.32% -0.44%
2.27% 2.16%
4.84% 4.81%
0.07% 0.01%
-0.86% -1.04%
3.83% 3.72%
0.12% -0.03%
0.24% 0.10%
-0.80% -0.98%
-0.70% -0.82%
0.75% 0.71%
-7.32% -7.52%
1.42% 1.05%
2.26% 1.90%
-4.56% -4.52%
5.16% 4.96%
1.32% 1.15%
-0.86% -0.98%
-2.96% -3.12%
-0.59% -0.72%
1.42% 1.26%
-2.43% -2.68%
2.90% 2.81%
-0.70% -0.77%
1.90% 1.75%
0.47% 0.29%
0.09% 0.05%
-0.12% -0.23%
-0.34% -0.49%
0.68% 0.55%
-1.42% -1.57%
0.10% -0.04%
-0.63% -0.80%
1.04% 0.96%
-0.26% -0.42%
0.46% 0.33%
 Constant return model
Event date 11/11/2022 Stdev 4.34%
Anticipation 10 Stdev (10 days) 13.74%
Adjustment 10 Stdev (21 days) 19.91%
Estimation window 18
Event -2.37%
Average return -0.2548% Anticipation -14.50%
Return (CAR)
Alpha -0.143% Adjustment 8.39%
Beta 0.81 Total -8.47%
Event -0.54
Anticipation -1.06
t-stat (CAR)
Adjustment 0.61
Total -0.43

Abnormal returns
Date XRP_Close Nasdaq Crypto Index Return Return Constant return model
3/10/2022 0.45386 1176.53
4/10/2022 0.47561 1209.93 4.79% 2.84% 5.05%
5/10/2022 0.49638 1212.59 4.37% 0.22% 4.62%
6/10/2022 0.48962 1203.11 -1.36% -0.78% -1.11%
7/10/2022 0.52485 1176.83 7.20% -2.18% 7.45%
10/10/2022 0.49266 1139.25 -6.13% -3.19% -5.88%
11/10/2022 0.48592 1142.06 -1.37% 0.25% -1.11%
12/10/2022 0.47283 1147.95 -2.69% 0.52% -2.44%
10-13-2022 0.50196 1156.55 6.16% 0.75% 6.42%
10-14-2022 0.4878 1144.02 -2.82% -1.08% -2.57%
10-17-2022 0.47695 1176.93 -2.22% 2.88% -1.97%
10-18-2022 0.46318 1157.11 -2.89% -1.68% -2.63%
10-19-2022 0.4565 1143.72 -1.44% -1.16% -1.19%
10-20-2022 0.44827 1136.34 -1.80% -0.65% -1.55%
10-21-2022 0.45793 1148.24 2.15% 1.05% 2.41%
10-24-2022 0.4479 1165.59 -2.19% 1.51% -1.94%
10-25-2022 0.46175 1232.93 3.09% 5.78% 3.35%
10-26-2022 0.47467 1284.26 2.80% 4.16% 3.05%
10-27-2022 0.46422 1256.53 -2.20% -2.16% -1.95%
10-28-2022 0.47312 1275.84 1.92% 1.54% 2.17%
10-31-2022 0.45868 1273.75 -3.05% -0.16% -2.80%
1/11/2022 0.46206 1276.79 0.74% 0.24% 0.99%
2/11/2022 0.45651 1250.96 -1.20% -2.02% -0.95%
3/11/2022 0.45674 1260.06 0.05% 0.73% 0.31%
4/11/2022 0.49755 1328.74 8.94% 5.45% 9.19%
7/11/2022 0.43399 1285.18 -12.77% -3.28% -12.52%
8/11/2022 0.38784 1122.42 -10.63% -12.66% -10.38%
9/11/2022 0.35657 981.71 -8.06% -12.54% -7.81%
10/11/2022 0.38166 1080.01 7.04% 10.01% 7.29%
11/11/2022 0.37166 1048.08 -2.62% -2.96% -2.37%
11-14-2022 0.37173 1028.94 0.02% -1.83% 0.27%
11-15-2022 0.38394 1039.94 3.28% 1.07% 3.54%
11-16-2022 0.37348 1026.54 -2.72% -1.29% -2.47%
11-17-2022 0.38238 1033.01 2.38% 0.63% 2.64%
11-18-2022 0.38191 1020.2 -0.12% -1.24% 0.13%
11-21-2022 0.3597 958.48 -5.82% -6.05% -5.56%
11-22-2022 0.37797 981.91 5.08% 2.44% 5.33%
11-23-2022 0.3828 1021.91 1.28% 4.07% 1.53%
11-25-2022 0.4076 1017.32 6.48% -0.45% 6.73%
11-28-2022 0.39124 994.4 -4.01% -2.25% -3.76%
11-29-2022 0.40171 1049.49 2.68% 5.54% 2.93%
11-30-2022 0.40239 1065.2 0.17% 1.50% 0.42%
1/12/2022 0.3864 1059.08 -3.97% -0.57% -3.72%
2/12/2022 0.39197 1065.34 1.44% 0.59% 1.70%
5/12/2022 0.38271 1058.59 -2.36% -0.63% -2.11%
6/12/2022 0.38678 1057.19 1.06% -0.13% 1.32%
7/12/2022 0.387 1036.96 0.06% -1.91% 0.31%
8/12/2022 0.39051 1070.89 0.91% 3.27% 1.16%
9/12/2022 0.38711 1059.16 -0.87% -1.10% -0.62%
12/12/2022 0.38245 1060.54 -1.20% 0.13% -0.95%
 Market-adjusted model CAPM
3.16% 3.07%
9.99% 9.72%
14.48% 14.09%

0.34% -0.09%
-4.35% -5.36%
10.73% 11.22%
6.72% 5.77%
0.11 -0.03
-0.44 -0.55
1.07 1.15
0.46 0.41

Abnormal returns
Market-adjusted model CAPM

1.95% 2.64%
4.15% 4.33%
-0.58% -0.59%
9.38% 9.10%
-2.94% -3.41%
-1.61% -1.42%
-3.21% -2.97%
5.41% 5.70%
-1.74% -1.80%
-5.10% -4.41%
-1.20% -1.38%
-0.29% -0.36%
-1.16% -1.14%
1.11% 1.45%
-3.70% -3.27%
-2.69% -1.43%
-1.37% -0.42%
-0.04% -0.31%
0.38% 0.82%
-2.89% -2.78%
0.50% 0.69%
0.82% 0.58%
-0.68% -0.39%
3.48% 4.67%
-9.50% -9.98%
2.03% -0.26%
4.47% 2.21%
-2.98% -0.91%
0.34% -0.09%
1.85% 1.64%
 2.22% 2.56%
-1.44% -1.54%
1.75% 2.02%
1.12% 1.02%
0.23% -0.78%
2.63% 3.25%
-2.80% -1.87%
6.93% 6.98%
-1.76% -2.05%
-2.86% -1.66%
-1.33% -0.90%
-3.40% -3.37%
0.85% 1.11%
-1.73% -1.71%
1.20% 1.31%
1.97% 1.75%
-2.37% -1.59%
0.22% 0.16%
-1.33% -1.17%
 Constant return model
Event date 11/11/2022 Stdev 0.01%
Anticipation 10 Stdev (10 days) 0.04%
Adjustment 10 Stdev (21 days) 0.06%
Estimation window 18
Event 0.00%
Average return 0.0003% Anticipation 0.07%
Return (CAR)
Alpha 0.000% Adjustment -0.06%
Beta 0.00 Total 0.02%
Event 0.30
Anticipation 1.72
t-stat (CAR)
Adjustment -1.42
Total 0.28

Abnormal returns
Date USDC_Close Nasdaq Crypto Index Return Return Constant return model
3/10/2022 0.999927 1176.53
4/10/2022 0.999932 1209.93 0.00% 2.84% 0.00%
5/10/2022 0.999938 1212.59 0.00% 0.22% 0.00%
6/10/2022 0.999969 1203.11 0.00% -0.78% 0.00%
7/10/2022 1.000022 1176.83 0.01% -2.18% 0.00%
10/10/2022 0.999941 1139.25 -0.01% -3.19% -0.01%
11/10/2022 1.000025 1142.06 0.01% 0.25% 0.01%
12/10/2022 0.999962 1147.95 -0.01% 0.52% -0.01%
10-13-2022 1.000016 1156.55 0.01% 0.75% 0.01%
10-14-2022 0.999995 1144.02 0.00% -1.08% 0.00%
10-17-2022 0.999985 1176.93 0.00% 2.88% 0.00%
10-18-2022 0.999998 1157.11 0.00% -1.68% 0.00%
10-19-2022 1.000055 1143.72 0.01% -1.16% 0.01%
10-20-2022 1 1136.34 -0.01% -0.65% -0.01%
10-21-2022 1.000014 1148.24 0.00% 1.05% 0.00%
10-24-2022 0.99998 1165.59 0.00% 1.51% 0.00%
10-25-2022 0.999966 1232.93 0.00% 5.78% 0.00%
10-26-2022 1.000027 1284.26 0.01% 4.16% 0.01%
10-27-2022 0.999969 1256.53 -0.01% -2.16% -0.01%
10-28-2022 0.999923 1275.84 0.00% 1.54% 0.00%
10-31-2022 0.999996 1273.75 0.01% -0.16% 0.01%
1/11/2022 1.000044 1276.79 0.00% 0.24% 0.00%
2/11/2022 1.000097 1250.96 0.01% -2.02% 0.00%
3/11/2022 1.000065 1260.06 0.00% 0.73% 0.00%
4/11/2022 1.000036 1328.74 0.00% 5.45% 0.00%
7/11/2022 1.000323 1285.18 0.03% -3.28% 0.03%
8/11/2022 0.999982 1122.42 -0.03% -12.66% -0.03%
9/11/2022 1.000342 981.71 0.04% -12.54% 0.04%
10/11/2022 1.000692 1080.01 0.03% 10.01% 0.03%
11/11/2022 1.000734 1048.08 0.00% -2.96% 0.00%
11-14-2022 1.000586 1028.94 -0.01% -1.83% -0.02%
11-15-2022 1.000345 1039.94 -0.02% 1.07% -0.02%
11-16-2022 1.000186 1026.54 -0.02% -1.29% -0.02%
11-17-2022 1.000162 1033.01 0.00% 0.63% 0.00%
11-18-2022 1.000248 1020.2 0.01% -1.24% 0.01%
11-21-2022 1.00033 958.48 0.01% -6.05% 0.01%
11-22-2022 1.000419 981.91 0.01% 2.44% 0.01%
11-23-2022 1.000327 1021.91 -0.01% 4.07% -0.01%
11-25-2022 1.000057 1017.32 -0.03% -0.45% -0.03%
11-28-2022 1.000201 994.4 0.01% -2.25% 0.01%
11-29-2022 1.000076 1049.49 -0.01% 5.54% -0.01%
11-30-2022 1.000008 1065.2 -0.01% 1.50% -0.01%
1/12/2022 1.000003 1059.08 0.00% -0.57% 0.00%
2/12/2022 1.000051 1065.34 0.00% 0.59% 0.00%
5/12/2022 1.000021 1058.59 0.00% -0.63% 0.00%
6/12/2022 1.00009 1057.19 0.01% -0.13% 0.01%
7/12/2022 1.000027 1036.96 -0.01% -1.91% -0.01%
8/12/2022 1.000029 1070.89 0.00% 3.27% 0.00%
9/12/2022 1.000043 1059.16 0.00% -1.10% 0.00%
12/12/2022 1.000096 1060.54 0.01% 0.13% 0.00%
 Market-adjusted model CAPM
3.80% 0.01%
12.01% 0.04%
17.41% 0.06%

2.96% 0.00%
12.77% 0.07%
4.84% -0.06%
20.57% 0.02%
0.78 0.33
1.06 1.75
0.40 -1.41
1.18 0.31

Abnormal returns
Market-adjusted model CAPM

-2.84% 0.00%
-0.22% 0.00%
0.78% 0.00%
2.19% 0.01%
3.19% -0.01%
-0.24% 0.01%
-0.52% -0.01%
-0.74% 0.00%
1.08% 0.00%
-2.88% 0.00%
1.69% 0.00%
1.16% 0.01%
0.64% -0.01%
-1.05% 0.00%
-1.51% 0.00%
-5.78% 0.00%
-4.16% 0.01%
2.15% -0.01%
-1.54% -0.01%
0.17% 0.01%
-0.23% 0.00%
2.03% 0.01%
-0.73% 0.00%
-5.45% 0.00%
3.31% 0.03%
12.63% -0.03%
12.57% 0.04%
-9.98% 0.03%
2.96% 0.00%
1.81% -0.01%
-1.09% -0.02%
1.27% -0.02%
-0.63% 0.00%
1.25% 0.01%
6.06% 0.01%
-2.44% 0.01%
-4.08% -0.01%
0.42% -0.03%
2.27% 0.01%
-5.55% -0.01%
-1.50% -0.01%
0.57% 0.00%
-0.59% 0.00%
0.63% 0.00%
0.14% 0.01%
1.91% -0.01%
-3.27% 0.00%
1.10% 0.00%
-0.12% 0.00%
 Event date 11/11/2022 Stdev
Anticipation 10 Stdev (10 days)
Adjustment 10 Stdev (21 days)
Estimation window 18
Event
Average return 1.2318% Anticipation
Return (CAR)
Alpha 1.375% Adjustment
Beta 1.03 Total
Event
Anticipation
t-stat (CAR)
Adjustment
Total

Date Dodgecoin_Close Nasdaq Crypto Index Return Return

3/10/2022 0.060292 1176.53
4/10/2022 0.065067 1209.93 7.92% 2.84%
5/10/2022 0.066398 1212.59 2.05% 0.22%
6/10/2022 0.06349 1203.11 -4.38% -0.78%
7/10/2022 0.062619 1176.83 -1.37% -2.18%
10/10/2022 0.058961 1139.25 -5.84% -3.19%
11/10/2022 0.06053 1142.06 2.66% 0.25%
12/10/2022 0.058916 1147.95 -2.67% 0.52%
10-13-2022 0.060512 1156.55 2.71% 0.75%
10-14-2022 0.059035 1144.02 -2.44% -1.08%
10-17-2022 0.059989 1176.93 1.62% 2.88%
10-18-2022 0.059845 1157.11 -0.24% -1.68%
10-19-2022 0.059393 1143.72 -0.76% -1.16%
10-20-2022 0.05896 1136.34 -0.73% -0.65%
10-21-2022 0.059411 1148.24 0.76% 1.05%
10-24-2022 0.060304 1165.59 1.50% 1.51%
10-25-2022 0.065787 1232.93 9.09% 5.78%
10-26-2022 0.076215 1284.26 15.85% 4.16%
10-27-2022 0.07359 1256.53 -3.44% -2.16%
10-28-2022 0.086045 1275.84 16.92% 1.54%
10-31-2022 0.127102 1273.75 47.72% -0.16%
1/11/2022 0.141611 1276.79 11.42% 0.24%
2/11/2022 0.135354 1250.96 -4.42% -2.02%
3/11/2022 0.118931 1260.06 -12.13% 0.73%
4/11/2022 0.124218 1328.74 4.45% 5.45%
7/11/2022 0.100533 1285.18 -19.07% -3.28%
8/11/2022 0.085774 1122.42 -14.68% -12.66%
9/11/2022 0.080186 981.71 -6.51% -12.54%
10/11/2022 0.084813 1080.01 5.77% 10.01%
11/11/2022 0.081706 1048.08 -3.66% -2.96%
11-14-2022 0.08666 1028.94 6.06% -1.83%
11-15-2022 0.087517 1039.94 0.99% 1.07%
11-16-2022 0.084865 1026.54 -3.03% -1.29%
11-17-2022 0.084794 1033.01 -0.08% 0.63%
11-18-2022 0.084278 1020.2 -0.61% -1.24%
11-21-2022 0.075806 958.48 -10.05% -6.05%
11-22-2022 0.081642 981.91 7.70% 2.44%
11-23-2022 0.082471 1021.91 1.02% 4.07%
11-25-2022 0.092012 1017.32 11.57% -0.45%
11-28-2022 0.103706 994.4 12.71% -2.25%
11-29-2022 0.106202 1049.49 2.41% 5.54%
11-30-2022 0.104212 1065.2 -1.87% 1.50%
1/12/2022 0.098579 1059.08 -5.41% -0.57%
2/12/2022 0.101164 1065.34 2.62% 0.59%
5/12/2022 0.101553 1058.59 0.38% -0.63%
6/12/2022 0.100452 1057.19 -1.08% -0.13%
7/12/2022 0.096378 1036.96 -4.06% -1.91%
8/12/2022 0.098226 1070.89 1.92% 3.27%
9/12/2022 0.096524 1059.16 -1.73% -1.10%
12/12/2022 0.089596 1060.54 -7.18% 0.13%
Constant return model Market-adjusted model CAPM
9.79% 8.97% 8.97%
30.96% 28.38% 28.37%
44.87% 41.12% 41.12%

-4.90% -0.71% -1.99%

17.14% 42.16% 28.80%
13.95% 31.16% 17.56%
26.19% 72.61% 44.38%
-0.50 -0.08 -0.22
0.55 1.49 1.02
0.45 1.10 0.62
0.58 1.77 1.08

Abnormal returns
Constant return model Market-adjusted model CAPM

6.69% 5.08% 3.62%

0.81% 1.83% 0.44%
-5.61% -3.60% -4.95%
-2.60% 0.81% -0.49%
-7.07% -2.65% -3.92%
1.43% 2.41% 1.03%
-3.90% -3.18% -4.57%
1.48% 1.96% 0.56%
-3.67% -1.36% -2.70%
0.38% -1.26% -2.73%
-1.47% 1.44% 0.12%
-1.99% 0.40% -0.94%
-1.96% -0.08% -1.44%
-0.47% -0.28% -1.69%
0.27% -0.01% -1.43%
7.86% 3.31% 1.76%
14.62% 11.69% 10.18%
-4.68% -1.28% -2.59%
15.69% 15.39% 13.96%
46.48% 47.88% 46.51%
10.18% 11.18% 9.79%
-5.65% -2.40% -3.71%
-13.37% -12.86% -14.26%
3.21% -1.01% -2.55%
-20.30% -15.79% -17.06%
-15.91% -2.02% -2.99%
-7.75% 6.02% 5.04%
4.54% -4.24% -5.93%
-4.90% -0.71% -1.99%
4.83% 7.89% 6.57%
 -0.24% -0.08% -1.49%
-4.26% -1.74% -3.08%
-1.32% -0.71% -2.11%
-1.84% 0.63% -0.70%
-11.28% -4.00% -5.19%
6.47% 5.25% 3.80%
-0.22% -3.06% -4.56%
10.34% 12.02% 10.66%
11.48% 14.96% 13.66%
1.17% -3.13% -4.68%
-3.11% -3.37% -4.79%
-6.64% -4.83% -6.19%
1.39% 2.03% 0.64%
-0.85% 1.02% -0.34%
-2.32% -0.95% -2.32%
-5.29% -2.14% -3.46%
0.69% -1.35% -2.83%
-2.96% -0.64% -1.98%
-8.41% -7.31% -8.69%