HighTech LowTech LowTech

HighTech Corp. initial equally initial value

Corp. Corp. Corp.
Value(market weighted weighted
Stock Stock Value(market
capitalization index=100 index=200
price price capitalization
B131-Dec-91 75.00 40.00 123 490 100.00 200
B131-Dec-92 86.25 45.20 210 487 114.00 226.80
B131-Dec-93 125.32 55.60 190 475 152.93 294.20
B131-Dec-94 91.64 48.37 200 483 122.44 244.30
B131-Dec-95 100.80 32.88 221 455 108.96 196.13
B131-Dec-96 145.93 61.64 198 440 181.00 340.30
B131-Dec-97 151.21 75.82 176 430 205.09 398.10
B131-Dec-98 196.57 97.05 165 430 264.56 511.88
B131-Dec-99 226.05 109.66 230 423 301.60 581.26
B131-Dec-00 89.00 122.99 228.50 502.89

Mean
Variance
SD

BAHR (Simple)
BAHR (1+return)
BAHR (log)

How many
years
has positive
returns

BAHR:
 Simple Simple Log log initial Price
1 + simple 1 + simple rt*vt-1 rt*vt-1
return return return return weighted
return High return low High Low
High Low for High for low index=300

- - - - - - 300
15.0% 13.0% 13.98% 12.22% 115.00% 113.00% 342.91 18.5 63.7
45.3% 23.0% 37.36% 20.70% 145.30% 123.00% 471.95 95.1 112.0
-26.9% -13.0% -31.30% -13.93% 73.13% 87.00% 365.24 -51.1 -61.8
10.0% -32.0% 9.53% -38.60% 110.00% 67.98% 348.74 20.0 -154.7
44.8% 87.5% 36.99% 62.85% 144.77% 187.47% 541.49 98.9 398.0
3.6% 23.0% 3.55% 20.70% 103.62% 123.00% 592.24 7.2 101.2
30.0% 28.0% 26.24% 24.69% 130.00% 128.00% 765.96 52.8 120.4
15.0% 13.0% 13.98% 12.22% 115.00% 113.00% 875.79 24.8 55.9
-60.6% 12.2% -93.21% 11.47% 39.37% 112.15% 553.02 -139.4 51.4
17.11% 112.32%
8.46% 17.18%
0.1159 0.1065
0.3404 0.3263

18.7% 207.5%
18.7% 207.5%
18.7% 207.5%

7 7

Simple return: last P / first P - 1

1 + simple return: Product (1+ simple return) -1
Log return: first sum the total log return then EXP(answer)-1