APT Question 5 Solutions

Two-factor APT model.
Risk factors: the market factor, the price of gold.

𝑟_𝑖−𝑟_𝑓=𝛼+𝛽_𝑀𝐾𝑇^𝑖 (𝑟_𝑀𝐾𝑇−𝑟_𝑓 )+𝛽_𝐺𝐿𝐷^𝑖 (𝑟_𝐺𝐿𝐷−𝑟_𝑓 )+𝜖_𝑖
We will use GLD ETF as a factor-mimicking portfolio for the price of gold.
Gold Mining Firms

Identifier Company name Location Notes
21207 Newmont Corporation Greenwood Village, Colorado, United States S&P 500 component
71298 Barrick Gold Corporation Toronto, Canada S&P/TSX 60 component
86341 AngloGold Ashanti Johannesburg, South Africa
89692 Kinross Gold Corporation Toronto, Canada
Technology Firms
Identifier Company name Location Notes
10104 Oracle Corporation Redwood Shores, California S&P 500 component
10107 Microsoft Corporation Redmond, Washington S&P 500 component
14593 Apple Inc. Cupertino, California S&P 500 component
59328 Intel Corporation Santa Clara, California S&P 500 component
Risk-free Market GLD ETF Excess
Date Permno Return Firm Name
rate return return return
2005m1 89692 -0.065341 0.0000479 -0.026518 -0.036073 KINROSS GOLD CORP -0.065389
2005m2 89692 0.009119 0.0000552 0.022698 0.030791 KINROSS GOLD CORP 0.009064
2005m4 89692 -0.108333 0.0000716 -0.025222 0.012377 KINROSS GOLD CORP -0.108405
2005m5 89692 -0.003738 0.0000735 0.037993 -0.039216 KINROSS GOLD CORP -0.003811
2005m8 89692 0.136691 0.0000884 -0.006014 0.013545 KINROSS GOLD CORP 0.136603
2006m8 89692 0.210708 0.0001370 0.025152 -0.013775 KINROSS GOLD CORP 0.210571
2006m11 89692 -0.050758 0.0001415 0.025526 0.068891 KINROSS GOLD CORP -0.050899
2011m6 89692 0.005089 0.0000013 -0.018264 -0.024318 KINROSS GOLD CORP 0.005088
2015m5 89692 -0.032922 -0.0000001 0.010356 0.005552 KINROSS GOLD CORP -0.032922
2015m10 89692 0.168605 -0.0000003 0.074187 0.022834 KINROSS GOLD CORP 0.168605
2005m1 86341 -0.098487 0.0000479 -0.026518 -0.036073 ANGLOGOLD ASHANTI LTD -0.098535
2005m2 86341 0.106918 0.0000552 0.022698 0.030791 ANGLOGOLD ASHANTI LTD 0.106863
2005m4 86341 -0.077504 0.0000716 -0.025222 0.012377 ANGLOGOLD ASHANTI LTD -0.077576
2005m5 86341 0.080554 0.0000735 0.037993 -0.039216 ANGLOGOLD ASHANTI LTD 0.080481
2005m7 86341 -0.037783 0.0000811 0.043327 -0.014273 ANGLOGOLD ASHANTI LTD -0.037864
2005m8 86341 0.039876 0.0000884 -0.006014 0.013545 ANGLOGOLD ASHANTI LTD 0.039788
2006m6 86341 0.040883 0.0001298 -0.000318 -0.046707 ANGLOGOLD ASHANTI LTD 0.040753
2007m1 86341 -0.001911 0.0001293 0.019592 0.025629 ANGLOGOLD ASHANTI LTD -0.00204
2015m5 86341 -0.154457 -0.0000001 0.010356 0.005552 ANGLOGOLD ASHANTI LTD -0.154457
2015m10 86341 0.030525 -0.0000003 0.074187 0.022834 ANGLOGOLD ASHANTI LTD 0.030525
2005m1 71298 -0.09744 0.0000479 -0.026518 -0.036073 BARRICK GOLD CORP -0.097488
2005m2 71298 0.139067 0.0000552 0.022698 0.030791 BARRICK GOLD CORP 0.139012
2005m4 71298 -0.068447 0.0000716 -0.025222 0.012377 BARRICK GOLD CORP -0.068519
2005m5 71298 0.034946 0.0000735 0.037993 -0.039216 BARRICK GOLD CORP 0.034873
2005m7 71298 -0.021175 0.0000811 0.043327 -0.014273 BARRICK GOLD CORP -0.021256
2005m8 71298 0.070204 0.0000884 -0.006014 0.013545 BARRICK GOLD CORP 0.070116
2006m3 71298 -0.00475 0.0001223 0.01897 0.036205 BARRICK GOLD CORP -0.004872
2006m5 71298 0.007874 0.0001255 -0.031025 -0.013212 BARRICK GOLD CORP 0.007749
2015m5 71298 -0.085254 -0.0000001 0.010356 0.005552 BARRICK GOLD CORP -0.085254
2015m10 71298 0.209119 -0.0000003 0.074187 0.022834 BARRICK GOLD CORP 0.209119
2015m12 71298 0.00545 0.0000028 -0.022347 -0.004513 BARRICK GOLD CORP 0.005447
2005m1 21207 -0.063499 0.0000479 -0.026518 -0.036073 NEWMONT MINING CORP -0.063547
2005m2 21207 0.081991 0.0000552 0.022698 0.030791 NEWMONT MINING CORP 0.081936
2005m4 21207 -0.101302 0.0000716 -0.025222 0.012377 NEWMONT MINING CORP -0.101374
2005m5 21207 -0.016592 0.0000735 0.037993 -0.039216 NEWMONT MINING CORP -0.016665
2005m8 21207 0.054061 0.0000884 -0.006014 0.013545 NEWMONT MINING CORP 0.053973
2006m3 21207 -0.017574 0.0001223 0.01897 0.036205 NEWMONT MINING CORP -0.017696
2006m6 21207 0.016874 0.0001298 -0.000318 -0.046707 NEWMONT MINING CORP 0.016744
2006m8 21207 0.00039 0.0001370 0.025152 -0.013775 NEWMONT MINING CORP 0.000253
2007m2 21207 0 0.0001351 -0.014021 0.025451 NEWMONT MINING CORP -0.000135
2011m9 21207 0.010061 0.0000004 -0.084963 -0.110623 NEWMONT MINING CORP 0.010061
2015m5 21207 0.028313 -0.0000001 0.010356 0.005552 NEWMONT MINING CORP 0.028313
2015m10 21207 0.210952 -0.0000003 0.074187 0.022834 NEWMONT MINING CORP 0.210952
2019m4 21207 -0.107073 0.0000644 0.037867 -0.006639 NEWMONT GOLDCORP CORP -0.107137
2019m5 21207 0.065357 0.0000657 -0.061594 0.017574 NEWMONT GOLDCORP CORP 0.065291
2019m6 21207 0.166818 0.0000624 0.067386 0.080029 NEWMONT GOLDCORP CORP 0.166756
2019m7 21207 -0.050689 0.0000541 0.013152 0.000075 NEWMONT GOLDCORP CORP -0.050743
2019m8 21207 0.092278 0.0000555 -0.020256 0.079123 NEWMONT GOLDCORP CORP 0.092223
2005m1 14593 0.194099 0.0000479 -0.026518 -0.036073 APPLE COMPUTER INC 0.194051
2005m2 14593 0.16671 0.0000552 0.022698 0.030791 APPLE COMPUTER INC 0.166655
2005m3 14593 -0.07111 0.0000683 -0.016851 -0.016085 APPLE COMPUTER INC -0.071178
2005m4 14593 -0.134629 0.0000716 -0.025222 0.012377 APPLE COMPUTER INC -0.134701
2005m5 14593 0.102587 0.0000735 0.037993 -0.039216 APPLE COMPUTER INC 0.102514
2005m6 14593 -0.074179 0.0000759 0.011474 0.042977 APPLE COMPUTER INC -0.074255
2005m8 14593 0.099414 0.0000884 -0.006014 0.013545 APPLE COMPUTER INC 0.099326
2005m10 14593 0.07424 0.0000858 -0.013741 -0.006424 APPLE COMPUTER INC 0.074154
2006m3 14593 -0.084246 0.0001223 0.01897 0.036205 APPLE COMPUTER INC -0.084368
2006m7 14593 0.18666 0.0001223 -0.009683 0.031521 APPLE COMPUTER INC 0.186538
2006m8 14593 -0.001619 0.0001370 0.025152 -0.013775 APPLE COMPUTER INC -0.001756
2006m12 14593 -0.074405 0.0001432 0.010861 -0.018326 APPLE COMPUTER INC -0.074548
2007m1 14593 0.01049 0.0001293 0.019592 0.025629 APPLE INC 0.010361
2007m2 14593 -0.013064 0.0001351 -0.014021 0.025451 APPLE INC -0.013199
2007m3 14593 0.098097 0.0001420 0.012952 -0.011131 APPLE INC 0.097955
2007m4 14593 0.074158 0.0001385 0.039758 0.020535 APPLE INC 0.07402
2007m5 14593 0.214339 0.0001303 0.038909 -0.023103 APPLE INC 0.214209
2007m6 14593 0.007005 0.0001304 -0.014821 -0.019378 APPLE INC 0.006875
2007m7 14593 0.079646 0.0001167 -0.031721 0.02365 APPLE INC 0.079529
2007m8 14593 0.051002 0.0001370 0.011694 0.011096 APPLE INC 0.050865
2007m9 14593 0.108247 0.0001146 0.040834 0.105081 APPLE INC 0.108132
2007m10 14593 0.237701 0.0000925 0.028808 0.069514 APPLE INC 0.237609
2007m11 14593 -0.040695 0.0001067 -0.03523 -0.016535 APPLE INC -0.040802
2007m12 14593 0.087038 0.0001003 -0.004363 0.066477 APPLE INC 0.086938
2008m1 14593 -0.31664 0.0000727 -0.062072 0.108416 APPLE INC -0.316713
2008m2 14593 -0.076389 0.0000432 -0.021622 0.052298 APPLE INC -0.076432
2008m3 14593 0.147816 0.0000568 -0.010336 -0.059992 APPLE INC 0.147759
2008m4 14593 0.212195 0.0000329 0.051066 -0.041588 APPLE INC 0.212162
2008m5 14593 0.085082 0.0000290 0.023818 0.009232 APPLE INC 0.085053
2008m6 14593 -0.112901 0.0000546 -0.078533 0.045169 APPLE INC -0.112956
2008m7 14593 -0.050705 0.0000418 -0.013053 -0.014442 APPLE INC -0.050747
2008m8 14593 0.066562 0.0000418 0.010536 -0.092917 APPLE INC 0.06652
2008m9 14593 -0.329558 0.0000443 -0.098913 0.041121 APPLE INC -0.329602
2008m10 14593 -0.053405 0.0000154 -0.268237 -0.161397 APPLE INC -0.05342
2008m11 14593 -0.138675 0.0000034 -0.060761 0.125736 APPLE INC -0.138678
2008m12 14593 -0.07899 0.0000010 0.022324 0.077325 APPLE INC -0.078991
2009m1 14593 0.056005 0.0000004 -0.07849 0.055363 APPLE INC 0.056005
2009m2 14593 -0.009098 0.0000042 -0.100508 0.014456 APPLE INC -0.009102
2009m3 14593 0.177024 0.0000044 0.087016 -0.02537 APPLE INC 0.17702
2009m4 14593 0.197013 0.0000038 0.109425 -0.033341 APPLE INC 0.197009
2009m5 14593 0.079313 0.0000013 0.067855 0.102326 APPLE INC 0.079312
2009m6 14593 0.048745 0.0000042 -0.003096 -0.052183 APPLE INC 0.048741
2009m7 14593 0.14716 0.0000035 0.081811 0.023799 APPLE INC 0.147157
2009m8 14593 0.0295 0.0000038 0.031335 0.000536 APPLE INC 0.029496
2009m9 14593 0.101896 0.0000035 0.045274 0.058351 APPLE INC 0.101893
2009m10 14593 0.016995 0.0000013 -0.031814 0.037228 APPLE INC 0.016994
2009m11 14593 0.060531 0.0000008 0.051395 0.127865 APPLE INC 0.06053
2009m12 14593 0.054134 0.0000025 0.028345 -0.072034 APPLE INC 0.054131
2010m1 14593 -0.088591 0.0000015 -0.037133 -0.01258 APPLE INC -0.088593
2010m2 14593 0.06538 0.0000004 0.034774 0.032748 APPLE INC 0.06538
2010m3 14593 0.14847 0.0000026 0.06364 -0.004386 APPLE INC 0.148467
2010m4 14593 0.111021 0.0000040 0.02007 0.058834 APPLE INC 0.111017
2010m5 14593 -0.016125 0.0000042 -0.079214 0.030522 APPLE INC -0.016129
2010m6 14593 -0.020827 0.0000044 -0.050826 0.023545 APPLE INC -0.020831
2010m7 14593 0.022741 0.0000038 0.070217 -0.050871 APPLE INC 0.022737
2010m8 14593 -0.055005 0.0000042 -0.042918 0.057061 APPLE INC -0.055009
2010m9 14593 0.167215 0.0000047 0.091567 0.047756 APPLE INC 0.16721
2010m10 14593 0.060723 0.0000043 0.037958 0.036823 APPLE INC 0.060719
2010m11 14593 0.03379 0.0000040 0.008776 0.021113 APPLE INC 0.033786
2010m12 14593 0.03667 0.0000047 0.067283 0.024369 APPLE INC 0.036665
2011m1 14593 0.051959 0.0000015 0.019075 -0.063798 APPLE INC 0.051957
2011m2 14593 0.040935 0.0000042 0.038133 0.059991 APPLE INC 0.040931
2011m3 14593 -0.013314 0.0000038 0.00343 0.015974 APPLE INC -0.013318
2011m4 14593 0.004656 0.0000018 0.028691 0.089447 APPLE INC 0.004654
2011m5 14593 -0.006569 0.0000008 -0.014825 -0.017917 APPLE INC -0.00657
2011m6 14593 -0.03496 0.0000013 -0.018264 -0.024318 APPLE INC -0.034961
2011m7 14593 0.163285 0.0000006 -0.022433 0.084171 APPLE INC 0.163284
2011m8 14593 -0.014469 0.0000050 -0.057314 0.122749 APPLE INC -0.014474
2011m9 14593 -0.009121 0.0000004 -0.084963 -0.110623 APPLE INC -0.009121
2011m10 14593 0.061523 0.0000006 0.077099 0.058712 APPLE INC 0.061522
2011m11 14593 -0.055783 0.0000007 -0.025844 0.016673 APPLE INC -0.055784
2011m12 14593 0.059655 0.0000002 0.003713 -0.106624 APPLE INC 0.059655
2012m1 14593 0.127111 0.0000004 0.054103 0.113955 APPLE INC 0.127111
2012m2 14593 0.188311 0.0000017 0.041181 -0.029673 APPLE INC 0.188309
2012m3 14593 0.105284 0.0000011 0.024027 -0.013184 APPLE INC 0.105283
2012m4 14593 -0.025969 0.0000010 -0.006807 -0.00148 APPLE INC -0.02597
2012m5 14593 -0.010702 0.0000018 -0.065889 -0.06338 APPLE INC -0.010704
2012m6 14593 0.010853 0.0000008 0.03821 0.023546 APPLE INC 0.010852
2012m7 14593 0.045822 0.0000010 0.010294 0.008377 APPLE INC 0.045821
2012m8 14593 0.093539 0.0000014 0.026292 0.049396 APPLE INC 0.093538
2012m9 14593 0.002803 0.0000024 0.02651 0.046706 APPLE INC 0.002801
2012m10 14593 -0.107607 0.0000015 -0.010424 -0.029437 APPLE INC -0.107609
2012m11 14593 -0.012413 0.0000028 0.006512 -0.004675 APPLE INC -0.012416
2012m12 14593 -0.090738 0.0000032 0.012589 -0.024267 APPLE INC -0.090741
2013m1 14593 -0.144094 0.0000006 0.054154 -0.005064 APPLE INC -0.144095
2013m2 14593 -0.025116 0.0000011 0.008373 -0.050868 APPLE INC -0.025117
2013m3 14593 0.002855 0.0000024 0.035316 0.009608 APPLE INC 0.002853
2013m4 14593 0.000271 0.0000010 0.014946 -0.075743 APPLE INC 0.00027
2013m5 14593 0.022596 0.0000010 0.019179 -0.061988 APPLE INC 0.022595
2013m6 14593 -0.118303 0.0000006 -0.015043 -0.110588 APPLE INC -0.118304
2013m7 14593 0.141225 0.0000001 0.05263 0.074301 APPLE INC 0.141225
2013m8 14593 0.083389 0.0000003 -0.025734 0.052047 APPLE INC 0.083389
2013m9 14593 -0.021481 0.0000007 0.037509 -0.047838 APPLE INC -0.021482
2013m10 14593 0.096386 0.0000007 0.035732 -0.003433 APPLE INC 0.096385
2013m11 14593 0.069673 0.0000010 0.023913 -0.055112 APPLE INC 0.069672
2013m12 14593 0.008902 0.0000015 0.026197 -0.037945 APPLE INC 0.0089
2014m1 14593 -0.107697 0.0000004 -0.029955 0.034189 APPLE INC -0.107697
2014m2 14593 0.057311 0.0000008 0.04629 0.062703 APPLE INC 0.05731
2014m3 14593 0.019953 0.0000013 0.004436 -0.031421 APPLE INC 0.019952
2014m4 14593 0.099396 0.0000008 0.001423 0.004935 APPLE INC 0.099395
2014m5 14593 0.078293 0.0000006 0.020251 -0.03051 APPLE INC 0.078292
2014m6 14593 0.027662 0.0000011 0.028027 0.06319 APPLE INC 0.027661
2014m7 14593 0.028731 0.0000004 -0.02053 -0.036317 APPLE INC 0.028731
2014m8 14593 0.077092 0.0000002 0.040291 0.003809 APPLE INC 0.077092
2014m9 14593 -0.017073 0.0000006 -0.025125 -0.061763 APPLE INC -0.017074
2014m10 14593 0.07196 0.0000004 0.037308 -0.030548 APPLE INC 0.07196
2014m11 14593 0.105556 0.0000003 0.020212 -0.004882 APPLE INC 0.105556
2014m12 14593 -0.071891 0.0000011 -0.003581 0.013112 APPLE INC -0.071892
2015m1 14593 0.061424 0.0000004 -0.027106 0.086899 APPLE INC 0.061424
2015m2 14593 0.100461 0.0000004 0.056001 -0.059052 APPLE INC 0.100461
2015m3 14593 -0.031372 0.0000007 -0.010326 -0.021522 APPLE INC -0.031373
2015m4 14593 0.005786 0.0000007 0.008639 -0.001672 APPLE INC 0.005785
2015m5 14593 0.045146 -0.0000001 0.010356 0.005552 APPLE INC 0.045146
2015m6 14593 -0.037266 0.0000003 -0.01924 -0.015162 APPLE INC -0.037266
2015m7 14593 -0.032888 0.0000001 0.012305 -0.06621 APPLE INC -0.032888
2015m8 14593 -0.066117 0.0000008 -0.06006 0.037072 APPLE INC -0.066118
2015m9 14593 -0.021816 0.0000003 -0.033821 -0.018011 APPLE INC -0.021816
2015m10 14593 0.083409 -0.0000003 0.074187 0.022834 APPLE INC 0.083409
2015m11 14593 -0.00569 0.0000003 0.006757 -0.067521 APPLE INC -0.00569
2015m12 14593 -0.110228 0.0000028 -0.022347 -0.004513 APPLE INC -0.110231
2016m1 14593 -0.075242 0.0000039 -0.056998 0.054102 APPLE INC -0.075246
2016m2 14593 -0.001335 0.0000063 0.000687 0.109312 APPLE INC -0.001341
2016m3 14593 0.127211 0.0000063 0.070505 -0.008429 APPLE INC 0.127205
2016m4 14593 -0.139921 0.0000047 0.011831 0.051088 APPLE INC -0.139926
2016m5 14593 0.071368 0.0000043 0.014392 -0.061383 APPLE INC 0.071364
2016m6 14593 -0.04266 0.0000050 0.003173 0.089695 APPLE INC -0.042665
2016m7 14593 0.090063 0.0000051 0.038787 0.019847 APPLE INC 0.090058
2016m8 14593 0.023606 0.0000050 0.002799 -0.032563 APPLE INC 0.023601
2016m9 14593 0.065504 0.0000068 0.003045 0.006892 APPLE INC 0.065497
2016m10 14593 0.004334 0.0000056 -0.027061 -0.029449 APPLE INC 0.004328
2016m11 14593 -0.021578 0.0000050 0.040419 -0.083566 APPLE INC -0.021583
2016m12 14593 0.047955 0.0000069 0.018748 -0.01915 APPLE INC 0.047948
2017m1 14593 0.047746 0.0000125 0.022173 0.054192 APPLE INC 0.047733
2017m2 14593 0.133581 0.0000131 0.032628 0.031848 APPLE INC 0.133568
2017m3 14593 0.04869 0.0000122 0.00205 -0.004277 APPLE INC 0.048678
2017m4 14593 -0.00007 0.0000201 0.009619 0.017267 APPLE INC -9.01E-05
2017m5 14593 0.067804 0.0000183 0.009358 -0.001242 APPLE INC 0.067786
2017m6 14593 -0.057214 0.0000203 0.009678 -0.021555 APPLE INC -0.057234
2017m7 14593 0.032704 0.0000228 0.017181 0.023132 APPLE INC 0.032681
2017m8 14593 0.106905 0.0000268 0.001613 0.041988 APPLE INC 0.106878
2017m9 14593 -0.060244 0.0000250 0.023813 -0.033699 APPLE INC -0.060269
2017m10 14593 0.096808 0.0000261 0.021348 -0.007485 APPLE INC 0.096782
2017m11 14593 0.02035 0.0000268 0.02741 0.003563 APPLE INC 0.020323
2017m12 14593 -0.015246 0.0000310 0.012287 0.021057 APPLE INC -0.015277
2018m1 14593 -0.010636 0.0000347 0.050688 0.032349 APPLE INC -0.010671
2018m2 14593 0.06761 0.0000328 -0.039435 -0.02076 APPLE INC 0.067577
2018m3 14593 -0.058051 0.0000374 -0.018495 0.00632 APPLE INC -0.058088
2018m4 14593 -0.01502 0.0000445 0.00484 -0.00954 APPLE INC -0.015064
2018m5 14593 0.135181 0.0000450 0.026278 -0.011959 APPLE INC 0.135136
2018m6 14593 -0.009418 0.0000477 0.005291 -0.036149 APPLE INC -0.009466
2018m7 14593 0.027983 0.0000481 0.031689 -0.022419 APPLE INC 0.027935
2018m8 14593 0.200063 0.0000520 0.030352 -0.021381 APPLE INC 0.200011
2018m9 14593 -0.008303 0.0000530 0.00048 -0.006607 APPLE INC -0.008356
2018m10 14593 -0.030478 0.0000580 -0.07275 0.021195 APPLE INC -0.030536
2018m11 14593 -0.180709 0.0000598 0.044112 0.003387 APPLE INC -0.180769
2018m12 14593 -0.116698 0.0000613 -0.074873 0.04942 APPLE INC -0.116759
2019m1 14593 0.055154 0.0000627 0.088009 0.028866 APPLE INC 0.055091
2019m2 14593 0.044701 0.0000659 0.032715 -0.006092 APPLE INC 0.044635
2019m3 14593 0.097026 0.0000649 0.013366 -0.015969 APPLE INC 0.096961
2019m4 14593 0.056436 0.0000644 0.037867 -0.006639 APPLE INC 0.056372
2019m5 14593 -0.123735 0.0000657 -0.061594 0.017574 APPLE INC -0.123801
2019m6 14593 0.130519 0.0000624 0.067386 0.080029 APPLE INC 0.130457
2019m7 14593 0.076394 0.0000541 0.013152 0.000075 APPLE INC 0.07634
2019m8 14593 -0.01657 0.0000555 -0.020256 0.079123 APPLE INC -0.016625
2019m9 14593 0.072962 0.0000539 0.01596 -0.033948 APPLE INC 0.072908
2019m10 14593 0.110684 0.0000478 0.020896 0.025635 APPLE INC 0.110636
2019m11 14593 0.077424 0.0000410 0.036646 -0.032086 APPLE INC 0.077383
2019m12 14593 0.098784 0.0000428 0.028492 0.036559 APPLE INC 0.098741
2005m1 10107 -0.016467 0.0000479 -0.026518 -0.036073 MICROSOFT CORP -0.016515

2005m2 10107 -0.039574 0.0000552 0.022698 0.030791 MICROSOFT CORP -0.039629
2005m3 10107 -0.039348 0.0000683 -0.016851 -0.016085 MICROSOFT CORP -0.039416
2005m4 10107 0.046752 0.0000716 -0.025222 0.012377 MICROSOFT CORP 0.04668
2005m5 10107 0.022925 0.0000735 0.037993 -0.039216 MICROSOFT CORP 0.022852
2005m6 10107 -0.037209 0.0000759 0.011474 0.042977 MICROSOFT CORP -0.037285
2005m7 10107 0.030998 0.0000811 0.043327 -0.014273 MICROSOFT CORP 0.030917
2005m8 10107 0.072237 0.0000884 -0.006014 0.013545 MICROSOFT CORP 0.072149
2005m9 10107 -0.060263 0.0000922 0.010593 0.076037 MICROSOFT CORP -0.060355
2005m10 10107 -0.001166 0.0000858 -0.013741 -0.006424 MICROSOFT CORP -0.001252
2005m11 10107 0.080156 0.0001022 0.034165 0.05819 MICROSOFT CORP 0.080054
2005m12 10107 -0.055275 0.0001081 0.003497 0.050509 MICROSOFT CORP -0.055383
2006m1 10107 0.076482 0.0001095 0.040057 0.099263 MICROSOFT CORP 0.076373
2006m2 10107 -0.042273 0.0001147 -0.001628 -0.011111 MICROSOFT CORP -0.042388
2006m3 10107 0.012653 0.0001223 0.01897 0.036205 MICROSOFT CORP 0.012531
2006m4 10107 -0.112459 0.0001270 0.013078 0.12031 MICROSOFT CORP -0.112586
2006m5 10107 -0.058385 0.0001255 -0.031025 -0.013212 MICROSOFT CORP -0.05851
2006m6 10107 0.028698 0.0001298 -0.000318 -0.046707 MICROSOFT CORP 0.028568
2006m7 10107 0.032618 0.0001223 -0.009683 0.031521 MICROSOFT CORP 0.032496
2006m8 10107 0.071904 0.0001370 0.025152 -0.013775 MICROSOFT CORP 0.071767
2006m9 10107 0.064202 0.0001399 0.019411 -0.045272 MICROSOFT CORP 0.064062
2006m10 10107 0.049726 0.0001251 0.034901 0.012948 MICROSOFT CORP 0.049601
2006m11 10107 0.026123 0.0001415 0.025526 0.068891 MICROSOFT CORP 0.025982
2006m12 10107 0.01703 0.0001432 0.010861 -0.018326 MICROSOFT CORP 0.016887
2007m1 10107 0.03349 0.0001293 0.019592 0.025629 MICROSOFT CORP 0.033361
2007m2 10107 -0.083927 0.0001351 -0.014021 0.025451 MICROSOFT CORP -0.084062
2007m3 10107 -0.01065 0.0001420 0.012952 -0.011131 MICROSOFT CORP -0.010792
2007m4 10107 0.074273 0.0001385 0.039758 0.020535 MICROSOFT CORP 0.074135
2007m5 10107 0.028393 0.0001303 0.038909 -0.023103 MICROSOFT CORP 0.028263
2007m6 10107 -0.039756 0.0001304 -0.014821 -0.019378 MICROSOFT CORP -0.039886
2007m7 10107 -0.016288 0.0001167 -0.031721 0.02365 MICROSOFT CORP -0.016405
2007m8 10107 -0.005519 0.0001370 0.011694 0.011096 MICROSOFT CORP -0.005656
2007m9 10107 0.025409 0.0001146 0.040834 0.105081 MICROSOFT CORP 0.025294
2007m10 10107 0.249491 0.0000925 0.028808 0.069514 MICROSOFT CORP 0.249399
2007m11 10107 -0.084216 0.0001067 -0.03523 -0.016535 MICROSOFT CORP -0.084323
2007m12 10107 0.059524 0.0001003 -0.004363 0.066477 MICROSOFT CORP 0.059424
2008m1 10107 -0.08427 0.0000727 -0.062072 0.108416 MICROSOFT CORP -0.084343
2008m2 10107 -0.162273 0.0000432 -0.021622 0.052298 MICROSOFT CORP -0.162316
2008m3 10107 0.043386 0.0000568 -0.010336 -0.059992 MICROSOFT CORP 0.043329
2008m4 10107 0.004933 0.0000329 0.051066 -0.041588 MICROSOFT CORP 0.0049
2008m5 10107 -0.003156 0.0000290 0.023818 0.009232 MICROSOFT CORP -0.003185
2008m6 10107 -0.028602 0.0000546 -0.078533 0.045169 MICROSOFT CORP -0.028657
2008m7 10107 -0.065067 0.0000418 -0.013053 -0.014442 MICROSOFT CORP -0.065109
2008m8 10107 0.065319 0.0000418 0.010536 -0.092917 MICROSOFT CORP 0.065277
2008m9 10107 -0.021986 0.0000443 -0.098913 0.041121 MICROSOFT CORP -0.02203
2008m10 10107 -0.163357 0.0000154 -0.268237 -0.161397 MICROSOFT CORP -0.163372
2008m11 10107 -0.08867 0.0000034 -0.060761 0.125736 MICROSOFT CORP -0.088673
2008m12 10107 -0.038576 0.0000010 0.022324 0.077325 MICROSOFT CORP -0.038577
2009m1 10107 -0.12037 0.0000004 -0.07849 0.055363 MICROSOFT CORP -0.12037
2009m2 10107 -0.047953 0.0000042 -0.100508 0.014456 MICROSOFT CORP -0.047957
2009m3 10107 0.137461 0.0000044 0.087016 -0.02537 MICROSOFT CORP 0.137457
2009m4 10107 0.102885 0.0000038 0.109425 -0.033341 MICROSOFT CORP 0.102881
2009m5 10107 0.037512 0.0000013 0.067855 0.102326 MICROSOFT CORP 0.037511
2009m6 10107 0.137865 0.0000042 -0.003096 -0.052183 MICROSOFT CORP 0.137861
2009m7 10107 -0.010517 0.0000035 0.081811 0.023799 MICROSOFT CORP -0.01052
2009m8 10107 0.053571 0.0000038 0.031335 0.000536 MICROSOFT CORP 0.053567
2009m9 10107 0.043408 0.0000035 0.045274 0.058351 MICROSOFT CORP 0.043405
2009m10 10107 0.078149 0.0000013 -0.031814 0.037228 MICROSOFT CORP 0.078148
2009m11 10107 0.065272 0.0000008 0.051395 0.127865 MICROSOFT CORP 0.065271
2009m12 10107 0.036382 0.0000025 0.028345 -0.072034 MICROSOFT CORP 0.036379
2010m1 10107 -0.075459 0.0000015 -0.037133 -0.01258 MICROSOFT CORP -0.075461
2010m2 10107 0.022001 0.0000004 0.034774 0.032748 MICROSOFT CORP 0.022001
2010m3 10107 0.021538 0.0000026 0.06364 -0.004386 MICROSOFT CORP 0.021535
2010m4 10107 0.042595 0.0000040 0.02007 0.058834 MICROSOFT CORP 0.042591
2010m5 10107 -0.150811 0.0000042 -0.079214 0.030522 MICROSOFT CORP -0.150815
2010m6 10107 -0.10814 0.0000044 -0.050826 0.023545 MICROSOFT CORP -0.108144
2010m7 10107 0.121686 0.0000038 0.070217 -0.050871 MICROSOFT CORP 0.121682
2010m8 10107 -0.085819 0.0000042 -0.042918 0.057061 MICROSOFT CORP -0.085823
2010m9 10107 0.043682 0.0000047 0.091567 0.047756 MICROSOFT CORP 0.043677
2010m10 10107 0.088812 0.0000043 0.037958 0.036823 MICROSOFT CORP 0.088808
2010m11 10107 -0.046784 0.0000040 0.008776 0.021113 MICROSOFT CORP -0.046788
2010m12 10107 0.105018 0.0000047 0.067283 0.024369 MICROSOFT CORP 0.105013
2011m1 10107 -0.006628 0.0000015 0.019075 -0.063798 MICROSOFT CORP -0.00663
2011m2 10107 -0.035528 0.0000042 0.038133 0.059991 MICROSOFT CORP -0.035532
2011m3 10107 -0.044771 0.0000038 0.00343 0.015974 MICROSOFT CORP -0.044775
2011m4 10107 0.020874 0.0000018 0.028691 0.089447 MICROSOFT CORP 0.020872
2011m5 10107 -0.028935 0.0000008 -0.014825 -0.017917 MICROSOFT CORP -0.028936
2011m6 10107 0.039584 0.0000013 -0.018264 -0.024318 MICROSOFT CORP 0.039583
2011m7 10107 0.053846 0.0000006 -0.022433 0.084171 MICROSOFT CORP 0.053845
2011m8 10107 -0.023358 0.0000050 -0.057314 0.122749 MICROSOFT CORP -0.023363
2011m9 10107 -0.064286 0.0000004 -0.084963 -0.110623 MICROSOFT CORP -0.064286
2011m10 10107 0.069908 0.0000006 0.077099 0.058712 MICROSOFT CORP 0.069907
2011m11 10107 -0.031919 0.0000007 -0.025844 0.016673 MICROSOFT CORP -0.03192
2011m12 10107 0.014855 0.0000002 0.003713 -0.106624 MICROSOFT CORP 0.014855
2012m1 10107 0.137519 0.0000004 0.054103 0.113955 MICROSOFT CORP 0.137519
2012m2 10107 0.081612 0.0000017 0.041181 -0.029673 MICROSOFT CORP 0.08161
2012m3 10107 0.016226 0.0000011 0.024027 -0.013184 MICROSOFT CORP 0.016225
2012m4 10107 -0.007441 0.0000010 -0.006807 -0.00148 MICROSOFT CORP -0.007442
2012m5 10107 -0.081993 0.0000018 -0.065889 -0.06338 MICROSOFT CORP -0.081995
2012m6 10107 0.047962 0.0000008 0.03821 0.023546 MICROSOFT CORP 0.047961
2012m7 10107 -0.036613 0.0000010 0.010294 0.008377 MICROSOFT CORP -0.036614
2012m8 10107 0.052596 0.0000014 0.026292 0.049396 MICROSOFT CORP 0.052595
2012m9 10107 -0.034393 0.0000024 0.02651 0.046706 MICROSOFT CORP -0.034395
2012m10 10107 -0.040995 0.0000015 -0.010424 -0.029437 MICROSOFT CORP -0.040997
2012m11 10107 -0.05939 0.0000028 0.006512 -0.004675 MICROSOFT CORP -0.059393
2012m12 10107 0.003558 0.0000032 0.012589 -0.024267 MICROSOFT CORP 0.003555
2013m1 10107 0.027717 0.0000006 0.054154 -0.005064 MICROSOFT CORP 0.027716
2013m2 10107 0.021129 0.0000011 0.008373 -0.050868 MICROSOFT CORP 0.021128
2013m3 10107 0.028957 0.0000024 0.035316 0.009608 MICROSOFT CORP 0.028955
2013m4 10107 0.15714 0.0000010 0.014946 -0.075743 MICROSOFT CORP 0.157139
2013m5 10107 0.061329 0.0000010 0.019179 -0.061988 MICROSOFT CORP 0.061328
2013m6 10107 -0.010172 0.0000006 -0.015043 -0.110588 MICROSOFT CORP -0.010173
2013m7 10107 -0.078304 0.0000001 0.05263 0.074301 MICROSOFT CORP -0.078304
2013m8 10107 0.056219 0.0000003 -0.025734 0.052047 MICROSOFT CORP 0.056219
2013m9 10107 -0.003593 0.0000007 0.037509 -0.047838 MICROSOFT CORP -0.003594
2013m10 10107 0.063852 0.0000007 0.035732 -0.003433 MICROSOFT CORP 0.063851
2013m11 10107 0.084875 0.0000010 0.023913 -0.055112 MICROSOFT CORP 0.084874
2013m12 10107 -0.018883 0.0000015 0.026197 -0.037945 MICROSOFT CORP -0.018885
2014m1 10107 0.011494 0.0000004 -0.029955 0.034189 MICROSOFT CORP 0.011494
2014m2 10107 0.01982 0.0000008 0.04629 0.062703 MICROSOFT CORP 0.019819
2014m3 10107 0.069956 0.0000013 0.004436 -0.031421 MICROSOFT CORP 0.069955
2014m4 10107 -0.014394 0.0000008 0.001423 0.004935 MICROSOFT CORP -0.014395
2014m5 10107 0.020297 0.0000006 0.020251 -0.03051 MICROSOFT CORP 0.020296
2014m6 10107 0.018564 0.0000011 0.028027 0.06319 MICROSOFT CORP 0.018563
2014m7 10107 0.035012 0.0000004 -0.02053 -0.036317 MICROSOFT CORP 0.035012
2014m8 10107 0.059082 0.0000002 0.040291 0.003809 MICROSOFT CORP 0.059082
2014m9 10107 0.020471 0.0000006 -0.025125 -0.061763 MICROSOFT CORP 0.02047
2014m10 10107 0.012726 0.0000004 0.037308 -0.030548 MICROSOFT CORP 0.012726
2014m11 10107 0.02492 0.0000003 0.020212 -0.004882 MICROSOFT CORP 0.02492
2014m12 10107 -0.028446 0.0000011 -0.003581 0.013112 MICROSOFT CORP -0.028447
2015m1 10107 -0.130248 0.0000004 -0.027106 0.086899 MICROSOFT CORP -0.130248
2015m2 10107 0.093069 0.0000004 0.056001 -0.059052 MICROSOFT CORP 0.093069
2015m3 10107 -0.072862 0.0000007 -0.010326 -0.021522 MICROSOFT CORP -0.072863
2015m4 10107 0.196409 0.0000007 0.008639 -0.001672 MICROSOFT CORP 0.196408
2015m5 10107 -0.030222 -0.0000001 0.010356 0.005552 MICROSOFT CORP -0.030222
2015m6 10107 -0.057832 0.0000003 -0.01924 -0.015162 MICROSOFT CORP -0.057832
2015m7 10107 0.057758 0.0000001 0.012305 -0.06621 MICROSOFT CORP 0.057758
2015m8 10107 -0.061456 0.0000008 -0.06006 0.037072 MICROSOFT CORP -0.061457
2015m9 10107 0.017004 0.0000003 -0.033821 -0.018011 MICROSOFT CORP 0.017004
2015m10 10107 0.189336 -0.0000003 0.074187 0.022834 MICROSOFT CORP 0.189336
2015m11 10107 0.039324 0.0000003 0.006757 -0.067521 MICROSOFT CORP 0.039324
2015m12 10107 0.020791 0.0000028 -0.022347 -0.004513 MICROSOFT CORP 0.020788
2016m1 10107 -0.00703 0.0000039 -0.056998 0.054102 MICROSOFT CORP -0.007034
2016m2 10107 -0.069886 0.0000063 0.000687 0.109312 MICROSOFT CORP -0.069892
2016m3 10107 0.085495 0.0000063 0.070505 -0.008429 MICROSOFT CORP 0.085489
2016m4 10107 -0.097049 0.0000047 0.011831 0.051088 MICROSOFT CORP -0.097054
2016m5 10107 0.069982 0.0000043 0.014392 -0.061383 MICROSOFT CORP 0.069978
2016m6 10107 -0.034528 0.0000050 0.003173 0.089695 MICROSOFT CORP -0.034533
2016m7 10107 0.10768 0.0000051 0.038787 0.019847 MICROSOFT CORP 0.107675
2016m8 10107 0.020113 0.0000050 0.002799 -0.032563 MICROSOFT CORP 0.020108
2016m9 10107 0.002436 0.0000068 0.003045 0.006892 MICROSOFT CORP 0.002429
2016m10 10107 0.040278 0.0000056 -0.027061 -0.029449 MICROSOFT CORP 0.040272
2016m11 10107 0.012183 0.0000050 0.040419 -0.083566 MICROSOFT CORP 0.012178
2016m12 10107 0.031198 0.0000069 0.018748 -0.01915 MICROSOFT CORP 0.031191
2017m1 10107 0.040393 0.0000125 0.022173 0.054192 MICROSOFT CORP 0.04038
2017m2 10107 -0.004331 0.0000131 0.032628 0.031848 MICROSOFT CORP -0.004344
2017m3 10107 0.029384 0.0000122 0.00205 -0.004277 MICROSOFT CORP 0.029372
2017m4 10107 0.039478 0.0000201 0.009619 0.017267 MICROSOFT CORP 0.039458
2017m5 10107 0.025854 0.0000183 0.009358 -0.001242 MICROSOFT CORP 0.025836
2017m6 10107 -0.01303 0.0000203 0.009678 -0.021555 MICROSOFT CORP -0.01305
2017m7 10107 0.054693 0.0000228 0.017181 0.023132 MICROSOFT CORP 0.05467
2017m8 10107 0.033838 0.0000268 0.001613 0.041988 MICROSOFT CORP 0.033811
2017m9 10107 -0.003745 0.0000250 0.023813 -0.033699 MICROSOFT CORP -0.00377
2017m10 10107 0.11666 0.0000261 0.021348 -0.007485 MICROSOFT CORP 0.116634
2017m11 10107 0.016951 0.0000268 0.02741 0.003563 MICROSOFT CORP 0.016924
2017m12 10107 0.016277 0.0000310 0.012287 0.021057 MICROSOFT CORP 0.016246
2018m1 10107 0.110708 0.0000347 0.050688 0.032349 MICROSOFT CORP 0.110673
2018m2 10107 -0.008631 0.0000328 -0.039435 -0.02076 MICROSOFT CORP -0.008664
2018m3 10107 -0.026661 0.0000374 -0.018495 0.00632 MICROSOFT CORP -0.026698
2018m4 10107 0.024652 0.0000445 0.00484 -0.00954 MICROSOFT CORP 0.024608
2018m5 10107 0.061377 0.0000450 0.026278 -0.011959 MICROSOFT CORP 0.061332
2018m6 10107 -0.002327 0.0000477 0.005291 -0.036149 MICROSOFT CORP -0.002375
2018m7 10107 0.075753 0.0000481 0.031689 -0.022419 MICROSOFT CORP 0.075705
2018m8 10107 0.062877 0.0000520 0.030352 -0.021381 MICROSOFT CORP 0.062825
2018m9 10107 0.018161 0.0000530 0.00048 -0.006607 MICROSOFT CORP 0.018108
2018m10 10107 -0.066101 0.0000580 -0.07275 0.021195 MICROSOFT CORP -0.066159
2018m11 10107 0.042505 0.0000598 0.044112 0.003387 MICROSOFT CORP 0.042445
2018m12 10107 -0.084047 0.0000613 -0.074873 0.04942 MICROSOFT CORP -0.084108
2019m1 10107 0.028158 0.0000627 0.088009 0.028866 MICROSOFT CORP 0.028095
2019m2 10107 0.077181 0.0000659 0.032715 -0.006092 MICROSOFT CORP 0.077115
2019m3 10107 0.052754 0.0000649 0.013366 -0.015969 MICROSOFT CORP 0.052689
2019m4 10107 0.107343 0.0000644 0.037867 -0.006639 MICROSOFT CORP 0.107279
2019m5 10107 -0.049464 0.0000657 -0.061594 0.017574 MICROSOFT CORP -0.04953
2019m6 10107 0.083118 0.0000624 0.067386 0.080029 MICROSOFT CORP 0.083056
2019m7 10107 0.017244 0.0000541 0.013152 0.000075 MICROSOFT CORP 0.01719
2019m8 10107 0.015044 0.0000555 -0.020256 0.079123 MICROSOFT CORP 0.014989
2019m9 10107 0.008487 0.0000539 0.01596 -0.033948 MICROSOFT CORP 0.008433
2019m10 10107 0.031216 0.0000478 0.020896 0.025635 MICROSOFT CORP 0.031168
2019m11 10107 0.059427 0.0000410 0.036646 -0.032086 MICROSOFT CORP 0.059386
2019m12 10107 0.041749 0.0000428 0.028492 0.036559 MICROSOFT CORP 0.041706
2005m1 10104 0.003644 0.0000479 -0.026518 -0.036073 ORACLE CORP 0.003596

2005m2 10104 -0.05955 0.0000552 0.022698 0.030791 ORACLE CORP -0.059605
2005m3 10104 -0.036293 0.0000683 -0.016851 -0.016085 ORACLE CORP -0.036361
2005m4 10104 -0.073718 0.0000716 -0.025222 0.012377 ORACLE CORP -0.07379
2005m5 10104 0.107266 0.0000735 0.037993 -0.039216 ORACLE CORP 0.107193
2005m6 10104 0.03125 0.0000759 0.011474 0.042977 ORACLE CORP 0.031174
2005m7 10104 0.02803 0.0000811 0.043327 -0.014273 ORACLE CORP 0.027949
2005m8 10104 -0.042741 0.0000884 -0.006014 0.013545 ORACLE CORP -0.042829
2005m9 10104 -0.04542 0.0000922 0.010593 0.076037 ORACLE CORP -0.045512
2005m10 10104 0.022581 0.0000858 -0.013741 -0.006424 ORACLE CORP 0.022495
2005m11 10104 -0.006309 0.0001022 0.034165 0.05819 ORACLE CORP -0.006411
2005m12 10104 -0.030952 0.0001081 0.003497 0.050509 ORACLE CORP -0.03106
2006m1 10104 0.029484 0.0001095 0.040057 0.099263 ORACLE CORP 0.029375
2006m2 10104 -0.011933 0.0001147 -0.001628 -0.011111 ORACLE CORP -0.012048
2006m3 10104 0.102254 0.0001223 0.01897 0.036205 ORACLE CORP 0.102132
2006m4 10104 0.065741 0.0001270 0.013078 0.12031 ORACLE CORP 0.065614
2006m5 10104 -0.02536 0.0001255 -0.031025 -0.013212 ORACLE CORP -0.025485
2006m6 10104 0.018987 0.0001298 -0.000318 -0.046707 ORACLE CORP 0.018857
2006m7 10104 0.033126 0.0001223 -0.009683 0.031521 ORACLE CORP 0.033004
2006m8 10104 0.046092 0.0001370 0.025152 -0.013775 ORACLE CORP 0.045955
2006m9 10104 0.132822 0.0001399 0.019411 -0.045272 ORACLE CORP 0.132682
2006m10 10104 0.04115 0.0001251 0.034901 0.012948 ORACLE CORP 0.041025
2006m11 10104 0.031402 0.0001415 0.025526 0.068891 ORACLE CORP 0.031261
2006m12 10104 -0.100262 0.0001432 0.010861 -0.018326 ORACLE CORP -0.100405
2007m1 10104 0.001167 0.0001293 0.019592 0.025629 ORACLE CORP 0.001038
2007m2 10104 -0.042541 0.0001351 -0.014021 0.025451 ORACLE CORP -0.042676
2007m3 10104 0.103469 0.0001420 0.012952 -0.011131 ORACLE CORP 0.103327
2007m4 10104 0.036955 0.0001385 0.039758 0.020535 ORACLE CORP 0.036817
2007m5 10104 0.030851 0.0001303 0.038909 -0.023103 ORACLE CORP 0.030721
2007m6 10104 0.017028 0.0001304 -0.014821 -0.019378 ORACLE CORP 0.016898
2007m7 10104 -0.029934 0.0001167 -0.031721 0.02365 ORACLE CORP -0.030051
2007m8 10104 0.060669 0.0001370 0.011694 0.011096 ORACLE CORP 0.060532
2007m9 10104 0.067554 0.0001146 0.040834 0.105081 ORACLE CORP 0.067439
2007m10 10104 0.024018 0.0000925 0.028808 0.069514 ORACLE CORP 0.023926
2007m11 10104 -0.089761 0.0001067 -0.03523 -0.016535 ORACLE CORP -0.089868
2007m12 10104 0.11893 0.0001003 -0.004363 0.066477 ORACLE CORP 0.11883
2008m1 10104 -0.089903 0.0000727 -0.062072 0.108416 ORACLE CORP -0.089976
2008m2 10104 -0.085158 0.0000432 -0.021622 0.052298 ORACLE CORP -0.085201
2008m3 10104 0.040426 0.0000568 -0.010336 -0.059992 ORACLE CORP 0.040369
2008m4 10104 0.065951 0.0000329 0.051066 -0.041588 ORACLE CORP 0.065918
2008m5 10104 0.095444 0.0000290 0.023818 0.009232 ORACLE CORP 0.095415
2008m6 10104 -0.08056 0.0000546 -0.078533 0.045169 ORACLE CORP -0.080615
2008m7 10104 0.025238 0.0000418 -0.013053 -0.014442 ORACLE CORP 0.025196
2008m8 10104 0.018579 0.0000418 0.010536 -0.092917 ORACLE CORP 0.018537
2008m9 10104 -0.073871 0.0000443 -0.098913 0.041121 ORACLE CORP -0.073915
2008m10 10104 -0.099458 0.0000154 -0.268237 -0.161397 ORACLE CORP -0.099473
2008m11 10104 -0.120284 0.0000034 -0.060761 0.125736 ORACLE CORP -0.120287
2008m12 10104 0.101927 0.0000010 0.022324 0.077325 ORACLE CORP 0.101926
2009m1 10104 -0.050761 0.0000004 -0.07849 0.055363 ORACLE CORP -0.050761
2009m2 10104 -0.076649 0.0000042 -0.100508 0.014456 ORACLE CORP -0.076653
2009m3 10104 0.162806 0.0000044 0.087016 -0.02537 ORACLE CORP 0.162802
2009m4 10104 0.073049 0.0000038 0.109425 -0.033341 ORACLE CORP 0.073045
2009m5 10104 0.012927 0.0000013 0.067855 0.102326 ORACLE CORP 0.012926
2009m6 10104 0.093415 0.0000042 -0.003096 -0.052183 ORACLE CORP 0.093411
2009m7 10104 0.035481 0.0000035 0.081811 0.023799 ORACLE CORP 0.035478
2009m8 10104 -0.011297 0.0000038 0.031335 0.000536 ORACLE CORP -0.011301
2009m9 10104 -0.047532 0.0000035 0.045274 0.058351 ORACLE CORP -0.047535
2009m10 10104 0.014875 0.0000013 -0.031814 0.037228 ORACLE CORP 0.014874
2009m11 10104 0.046445 0.0000008 0.051395 0.127865 ORACLE CORP 0.046444
2009m12 10104 0.11096 0.0000025 0.028345 -0.072034 ORACLE CORP 0.110957
2010m1 10104 -0.057888 0.0000015 -0.037133 -0.01258 ORACLE CORP -0.05789
2010m2 10104 0.068951 0.0000004 0.034774 0.032748 ORACLE CORP 0.068951
2010m3 10104 0.043002 0.0000026 0.06364 -0.004386 ORACLE CORP 0.042999
2010m4 10104 0.008071 0.0000040 0.02007 0.058834 ORACLE CORP 0.008067
2010m5 10104 -0.127477 0.0000042 -0.079214 0.030522 ORACLE CORP -0.127481
2010m6 10104 -0.04918 0.0000044 -0.050826 0.023545 ORACLE CORP -0.049184
2010m7 10104 0.103914 0.0000038 0.070217 -0.050871 ORACLE CORP 0.10391
2010m8 10104 -0.075931 0.0000042 -0.042918 0.057061 ORACLE CORP -0.075935
2010m9 10104 0.229114 0.0000047 0.091567 0.047756 ORACLE CORP 0.229109
2010m10 10104 0.096089 0.0000043 0.037958 0.036823 ORACLE CORP 0.096085
2010m11 10104 -0.079476 0.0000040 0.008776 0.021113 ORACLE CORP -0.07948
2010m12 10104 0.15733 0.0000047 0.067283 0.024369 ORACLE CORP 0.157325
2011m1 10104 0.02492 0.0000015 0.019075 -0.063798 ORACLE CORP 0.024918
2011m2 10104 0.027162 0.0000042 0.038133 0.059991 ORACLE CORP 0.027158
2011m3 10104 0.016185 0.0000038 0.00343 0.015974 ORACLE CORP 0.016181
2011m4 10104 0.077395 0.0000018 0.028691 0.089447 ORACLE CORP 0.077393
2011m5 10104 -0.048387 0.0000008 -0.014825 -0.017917 ORACLE CORP -0.048388
2011m6 10104 -0.038282 0.0000013 -0.018264 -0.024318 ORACLE CORP -0.038283
2011m7 10104 -0.068976 0.0000006 -0.022433 0.084171 ORACLE CORP -0.068977
2011m8 10104 -0.08208 0.0000050 -0.057314 0.122749 ORACLE CORP -0.082085
2011m9 10104 0.023869 0.0000004 -0.084963 -0.110623 ORACLE CORP 0.023869
2011m10 10104 0.14231 0.0000006 0.077099 0.058712 ORACLE CORP 0.142309
2011m11 10104 -0.043332 0.0000007 -0.025844 0.016673 ORACLE CORP -0.043333
2011m12 10104 -0.181818 0.0000002 0.003713 -0.106624 ORACLE CORP -0.181818
2012m1 10104 0.102144 0.0000004 0.054103 0.113955 ORACLE CORP 0.102144
2012m2 10104 0.037044 0.0000017 0.041181 -0.029673 ORACLE CORP 0.037042
2012m3 10104 -0.003247 0.0000011 0.024027 -0.013184 ORACLE CORP -0.003248
2012m4 10104 0.010288 0.0000010 -0.006807 -0.00148 ORACLE CORP 0.010287
2012m5 10104 -0.09966 0.0000018 -0.065889 -0.06338 ORACLE CORP -0.099662
2012m6 10104 0.122025 0.0000008 0.03821 0.023546 ORACLE CORP 0.122024
2012m7 10104 0.018855 0.0000010 0.010294 0.008377 ORACLE CORP 0.018854
2012m8 10104 0.048013 0.0000014 0.026292 0.049396 ORACLE CORP 0.048012
2012m9 10104 -0.006003 0.0000024 0.02651 0.046706 ORACLE CORP -0.006005
2012m10 10104 -0.010172 0.0000015 -0.010424 -0.029437 ORACLE CORP -0.010174
2012m11 10104 0.035232 0.0000028 0.006512 -0.004675 ORACLE CORP 0.035229
2012m12 10104 0.041181 0.0000032 0.012589 -0.024267 ORACLE CORP 0.041178
2013m1 10104 0.065726 0.0000006 0.054154 -0.005064 ORACLE CORP 0.065725
2013m2 10104 -0.035764 0.0000011 0.008373 -0.050868 ORACLE CORP -0.035765
2013m3 10104 -0.055783 0.0000024 0.035316 0.009608 ORACLE CORP -0.055785
2013m4 10104 0.013919 0.0000010 0.014946 -0.075743 ORACLE CORP 0.013918
2013m5 10104 0.030506 0.0000010 0.019179 -0.061988 ORACLE CORP 0.030505
2013m6 10104 -0.090882 0.0000006 -0.015043 -0.110588 ORACLE CORP -0.090883
2013m7 10104 0.05731 0.0000001 0.05263 0.074301 ORACLE CORP 0.05731
2013m8 10104 -0.015147 0.0000003 -0.025734 0.052047 ORACLE CORP -0.015147
2013m9 10104 0.041117 0.0000007 0.037509 -0.047838 ORACLE CORP 0.041116
2013m10 10104 0.013567 0.0000007 0.035732 -0.003433 ORACLE CORP 0.013566
2013m11 10104 0.053433 0.0000010 0.023913 -0.055112 ORACLE CORP 0.053432
2013m12 10104 0.08416 0.0000015 0.026197 -0.037945 ORACLE CORP 0.084158
2014m1 10104 -0.03241 0.0000004 -0.029955 0.034189 ORACLE CORP -0.03241
2014m2 10104 0.059892 0.0000008 0.04629 0.062703 ORACLE CORP 0.059891
2014m3 10104 0.046024 0.0000013 0.004436 -0.031421 ORACLE CORP 0.046023
2014m4 10104 0.0022 0.0000008 0.001423 0.004935 ORACLE CORP 0.002199
2014m5 10104 0.027886 0.0000006 0.020251 -0.03051 ORACLE CORP 0.027885
2014m6 10104 -0.035459 0.0000011 0.028027 0.06319 ORACLE CORP -0.03546
2014m7 10104 -0.000493 0.0000004 -0.02053 -0.036317 ORACLE CORP -0.000493
2014m8 10104 0.028225 0.0000002 0.040291 0.003809 ORACLE CORP 0.028225
2014m9 10104 -0.078257 0.0000006 -0.025125 -0.061763 ORACLE CORP -0.078258
2014m10 10104 0.02325 0.0000004 0.037308 -0.030548 ORACLE CORP 0.02325
2014m11 10104 0.086044 0.0000003 0.020212 -0.004882 ORACLE CORP 0.086044
2014m12 10104 0.060363 0.0000011 -0.003581 0.013112 ORACLE CORP 0.060362
2015m1 10104 -0.065822 0.0000004 -0.027106 0.086899 ORACLE CORP -0.065822
2015m2 10104 0.046073 0.0000004 0.056001 -0.059052 ORACLE CORP 0.046073
2015m3 10104 -0.01529 0.0000007 -0.010326 -0.021522 ORACLE CORP -0.015291
2015m4 10104 0.014368 0.0000007 0.008639 -0.001672 ORACLE CORP 0.014367
2015m5 10104 -0.00298 -0.0000001 0.010356 0.005552 ORACLE CORP -0.00298
2015m6 10104 -0.07335 0.0000003 -0.01924 -0.015162 ORACLE CORP -0.07335
2015m7 10104 -0.005211 0.0000001 0.012305 -0.06621 ORACLE CORP -0.005211
2015m8 10104 -0.071357 0.0000008 -0.06006 0.037072 ORACLE CORP -0.071358
2015m9 10104 -0.026153 0.0000003 -0.033821 -0.018011 ORACLE CORP -0.026153
2015m10 10104 0.079457 -0.0000003 0.074187 0.022834 ORACLE CORP 0.079457
2015m11 10104 0.003347 0.0000003 0.006757 -0.067521 ORACLE CORP 0.003347
2015m12 10104 -0.062612 0.0000028 -0.022347 -0.004513 ORACLE CORP -0.062615
2016m1 10104 -0.001916 0.0000039 -0.056998 0.054102 ORACLE CORP -0.00192
2016m2 10104 0.012944 0.0000063 0.000687 0.109312 ORACLE CORP 0.012938
2016m3 10104 0.112289 0.0000063 0.070505 -0.008429 ORACLE CORP 0.112283
2016m4 10104 -0.021999 0.0000047 0.011831 0.051088 ORACLE CORP -0.022004
2016m5 10104 0.00853 0.0000043 0.014392 -0.061383 ORACLE CORP 0.008526
2016m6 10104 0.018159 0.0000050 0.003173 0.089695 ORACLE CORP 0.018154
2016m7 10104 0.006352 0.0000051 0.038787 0.019847 ORACLE CORP 0.006347
2016m8 10104 0.004386 0.0000050 0.002799 -0.032563 ORACLE CORP 0.004381
2016m9 10104 -0.047065 0.0000068 0.003045 0.006892 ORACLE CORP -0.047072
2016m10 10104 -0.018075 0.0000056 -0.027061 -0.029449 ORACLE CORP -0.018081
2016m11 10104 0.04607 0.0000050 0.040419 -0.083566 ORACLE CORP 0.046065
2016m12 10104 -0.043294 0.0000069 0.018748 -0.01915 ORACLE CORP -0.043301
2017m1 10104 0.047074 0.0000125 0.022173 0.054192 ORACLE CORP 0.047061
2017m2 10104 0.06183 0.0000131 0.032628 0.031848 ORACLE CORP 0.061817
2017m3 10104 0.047429 0.0000122 0.00205 -0.004277 ORACLE CORP 0.047417
2017m4 10104 0.012105 0.0000201 0.009619 0.017267 ORACLE CORP 0.012085
2017m5 10104 0.009564 0.0000183 0.009358 -0.001242 ORACLE CORP 0.009546
2017m6 10104 0.104649 0.0000203 0.009678 -0.021555 ORACLE CORP 0.104629
2017m7 10104 -0.000399 0.0000228 0.017181 0.023132 ORACLE CORP -0.000422
2017m8 10104 0.008011 0.0000268 0.001613 0.041988 ORACLE CORP 0.007984
2017m9 10104 -0.03934 0.0000250 0.023813 -0.033699 ORACLE CORP -0.039365
2017m10 10104 0.05667 0.0000261 0.021348 -0.007485 ORACLE CORP 0.056644
2017m11 10104 -0.036149 0.0000268 0.02741 0.003563 ORACLE CORP -0.036176
2017m12 10104 -0.036282 0.0000310 0.012287 0.021057 ORACLE CORP -0.036313
2018m1 10104 0.095178 0.0000347 0.050688 0.032349 ORACLE CORP 0.095143
2018m2 10104 -0.017833 0.0000328 -0.039435 -0.02076 ORACLE CORP -0.017866
2018m3 10104 -0.097099 0.0000374 -0.018495 0.00632 ORACLE CORP -0.097136
2018m4 10104 0.002404 0.0000445 0.00484 -0.00954 ORACLE CORP 0.00236
2018m5 10104 0.022991 0.0000450 0.026278 -0.011959 ORACLE CORP 0.022946
2018m6 10104 -0.056935 0.0000477 0.005291 -0.036149 ORACLE CORP -0.056983
2018m7 10104 0.086473 0.0000481 0.031689 -0.022419 ORACLE CORP 0.086425
2018m8 10104 0.018876 0.0000520 0.030352 -0.021381 ORACLE CORP 0.018824
2018m9 10104 0.061342 0.0000530 0.00048 -0.006607 ORACLE CORP 0.061289
2018m10 10104 -0.049069 0.0000580 -0.07275 0.021195 ORACLE CORP -0.049127
2018m11 10104 -0.001638 0.0000598 0.044112 0.003387 ORACLE CORP -0.001698
2018m12 10104 -0.074036 0.0000613 -0.074873 0.04942 ORACLE CORP -0.074097
2019m1 10104 0.116722 0.0000627 0.088009 0.028866 ORACLE CORP 0.116659
2019m2 10104 0.037826 0.0000659 0.032715 -0.006092 ORACLE CORP 0.03776
2019m3 10104 0.030309 0.0000649 0.013366 -0.015969 ORACLE CORP 0.030244
2019m4 10104 0.03463 0.0000644 0.037867 -0.006639 ORACLE CORP 0.034566
2019m5 10104 -0.085487 0.0000657 -0.061594 0.017574 ORACLE CORP -0.085553
2019m6 10104 0.125889 0.0000624 0.067386 0.080029 ORACLE CORP 0.125827
2019m7 10104 -0.007548 0.0000541 0.013152 0.000075 ORACLE CORP -0.007602
2019m8 10104 -0.075311 0.0000555 -0.020256 0.079123 ORACLE CORP -0.075366
2019m9 10104 0.05705 0.0000539 0.01596 -0.033948 ORACLE CORP 0.056996
2019m10 10104 -0.005452 0.0000478 0.020896 0.025635 ORACLE CORP -0.0055
2019m11 10104 0.030281 0.0000410 0.036646 -0.032086 ORACLE CORP 0.03024
2019m12 10104 -0.056288 0.0000428 0.028492 0.036559 ORACLE CORP -0.056331
2005m1 59328 -0.040188 0.0000479 -0.026518 -0.036073 INTEL CORP -0.040236

2005m2 59328 0.07216 0.0000552 0.022698 0.030791 INTEL CORP 0.072105
2005m3 59328 -0.03168 0.0000683 -0.016851 -0.016085 INTEL CORP -0.031748
2005m4 59328 0.012484 0.0000716 -0.025222 0.012377 INTEL CORP 0.012412
2005m5 59328 0.14966 0.0000735 0.037993 -0.039216 INTEL CORP 0.149587
2005m6 59328 -0.034866 0.0000759 0.011474 0.042977 INTEL CORP -0.034942
2005m7 59328 0.043044 0.0000811 0.043327 -0.014273 INTEL CORP 0.042963
2005m8 59328 -0.049374 0.0000884 -0.006014 0.013545 INTEL CORP -0.049462
2005m9 59328 -0.041602 0.0000922 0.010593 0.076037 INTEL CORP -0.041694
2005m10 59328 -0.046653 0.0000858 -0.013741 -0.006424 INTEL CORP -0.046739
2005m11 59328 0.138723 0.0001022 0.034165 0.05819 INTEL CORP 0.138621
2005m12 59328 -0.064468 0.0001081 0.003497 0.050509 INTEL CORP -0.064576
2006m1 59328 -0.148438 0.0001095 0.040057 0.099263 INTEL CORP -0.148547
2006m2 59328 -0.026111 0.0001147 -0.001628 -0.011111 INTEL CORP -0.026226
2006m3 59328 -0.05534 0.0001223 0.01897 0.036205 INTEL CORP -0.055462
2006m4 59328 0.026722 0.0001270 0.013078 0.12031 INTEL CORP 0.026595
2006m5 59328 -0.093093 0.0001255 -0.031025 -0.013212 INTEL CORP -0.093218
2006m6 59328 0.054384 0.0001298 -0.000318 -0.046707 INTEL CORP 0.054254
2006m7 59328 -0.052632 0.0001223 -0.009683 0.031521 INTEL CORP -0.052754
2006m8 59328 0.092778 0.0001370 0.025152 -0.013775 INTEL CORP 0.092641
2006m9 59328 0.051099 0.0001399 0.019411 -0.045272 INTEL CORP 0.050959
2006m10 59328 0.037433 0.0001251 0.034901 0.012948 INTEL CORP 0.037308
2006m11 59328 0.007263 0.0001415 0.025526 0.068891 INTEL CORP 0.007122
2006m12 59328 -0.053517 0.0001432 0.010861 -0.018326 INTEL CORP -0.05366
2007m1 59328 0.035062 0.0001293 0.019592 0.025629 INTEL CORP 0.034933
2007m2 59328 -0.047113 0.0001351 -0.014021 0.025451 INTEL CORP -0.047248
2007m3 59328 -0.036757 0.0001420 0.012952 -0.011131 INTEL CORP -0.036899
2007m4 59328 0.123889 0.0001385 0.039758 0.020535 INTEL CORP 0.123751
2007m5 59328 0.036856 0.0001303 0.038909 -0.023103 INTEL CORP 0.036726
2007m6 59328 0.070334 0.0001304 -0.014821 -0.019378 INTEL CORP 0.070204
2007m7 59328 -0.005051 0.0001167 -0.031721 0.02365 INTEL CORP -0.005168
2007m8 59328 0.094941 0.0001370 0.011694 0.011096 INTEL CORP 0.094804
2007m9 59328 0.004272 0.0001146 0.040834 0.105081 INTEL CORP 0.004157
2007m10 59328 0.040217 0.0000925 0.028808 0.069514 INTEL CORP 0.040125
2007m11 59328 -0.026301 0.0001067 -0.03523 -0.016535 INTEL CORP -0.026408
2007m12 59328 0.022239 0.0001003 -0.004363 0.066477 INTEL CORP 0.022139
2008m1 59328 -0.208552 0.0000727 -0.062072 0.108416 INTEL CORP -0.208625
2008m2 59328 -0.047517 0.0000432 -0.021622 0.052298 INTEL CORP -0.04756
2008m3 59328 0.060596 0.0000568 -0.010336 -0.059992 INTEL CORP 0.060539
2008m4 59328 0.050991 0.0000329 0.051066 -0.041588 INTEL CORP 0.050958
2008m5 59328 0.047619 0.0000290 0.023818 0.009232 INTEL CORP 0.04759
2008m6 59328 -0.073339 0.0000546 -0.078533 0.045169 INTEL CORP -0.073394
2008m7 59328 0.033054 0.0000418 -0.013053 -0.014442 INTEL CORP 0.033012
2008m8 59328 0.036954 0.0000418 0.010536 -0.092917 INTEL CORP 0.036912
2008m9 59328 -0.181023 0.0000443 -0.098913 0.041121 INTEL CORP -0.181067
2008m10 59328 -0.1441 0.0000154 -0.268237 -0.161397 INTEL CORP -0.144115
2008m11 59328 -0.130435 0.0000034 -0.060761 0.125736 INTEL CORP -0.130438
2008m12 59328 0.062319 0.0000010 0.022324 0.077325 INTEL CORP 0.062318
2009m1 59328 -0.120055 0.0000004 -0.07849 0.055363 INTEL CORP -0.120055
2009m2 59328 -0.00155 0.0000042 -0.100508 0.014456 INTEL CORP -0.001554
2009m3 59328 0.179749 0.0000044 0.087016 -0.02537 INTEL CORP 0.179745
2009m4 59328 0.0499 0.0000038 0.109425 -0.033341 INTEL CORP 0.049896
2009m5 59328 0.00507 0.0000013 0.067855 0.102326 INTEL CORP 0.005069
2009m6 59328 0.052799 0.0000042 -0.003096 -0.052183 INTEL CORP 0.052795
2009m7 59328 0.163142 0.0000035 0.081811 0.023799 INTEL CORP 0.163139
2009m8 59328 0.062857 0.0000038 0.031335 0.000536 INTEL CORP 0.062853
2009m9 59328 -0.036909 0.0000035 0.045274 0.058351 INTEL CORP -0.036912
2009m10 59328 -0.023505 0.0000013 -0.031814 0.037228 INTEL CORP -0.023506
2009m11 59328 0.012036 0.0000008 0.051395 0.127865 INTEL CORP 0.012035
2009m12 59328 0.0625 0.0000025 0.028345 -0.072034 INTEL CORP 0.062497
2010m1 59328 -0.04902 0.0000015 -0.037133 -0.01258 INTEL CORP -0.049022
2010m2 59328 0.066366 0.0000004 0.034774 0.032748 INTEL CORP 0.066366
2010m3 59328 0.085728 0.0000026 0.06364 -0.004386 INTEL CORP 0.085725
2010m4 59328 0.024675 0.0000040 0.02007 0.058834 INTEL CORP 0.024671
2010m5 59328 -0.055276 0.0000042 -0.079214 0.030522 INTEL CORP -0.05528
2010m6 59328 -0.09197 0.0000044 -0.050826 0.023545 INTEL CORP -0.091974
2010m7 59328 0.059126 0.0000038 0.070217 -0.050871 INTEL CORP 0.059122
2010m8 59328 -0.13483 0.0000042 -0.042918 0.057061 INTEL CORP -0.134834
2010m9 59328 0.086895 0.0000047 0.091567 0.047756 INTEL CORP 0.08689
2010m10 59328 0.044271 0.0000043 0.037958 0.036823 INTEL CORP 0.044267
2010m11 59328 0.063092 0.0000040 0.008776 0.021113 INTEL CORP 0.063088
2010m12 59328 -0.006026 0.0000047 0.067283 0.024369 INTEL CORP -0.006031
2011m1 59328 0.020447 0.0000015 0.019075 -0.063798 INTEL CORP 0.020445
2011m2 59328 0.00891 0.0000042 0.038133 0.059991 INTEL CORP 0.008906
2011m3 59328 -0.060084 0.0000038 0.00343 0.015974 INTEL CORP -0.060088
2011m4 59328 0.147175 0.0000018 0.028691 0.089447 INTEL CORP 0.147173
2011m5 59328 -0.019819 0.0000008 -0.014825 -0.017917 INTEL CORP -0.01982
2011m6 59328 -0.015549 0.0000013 -0.018264 -0.024318 INTEL CORP -0.01555
2011m7 59328 0.007671 0.0000006 -0.022433 0.084171 INTEL CORP 0.00767
2011m8 59328 -0.089118 0.0000050 -0.057314 0.122749 INTEL CORP -0.089123
2011m9 59328 0.059861 0.0000004 -0.084963 -0.110623 INTEL CORP 0.059861
2011m10 59328 0.150223 0.0000006 0.077099 0.058712 INTEL CORP 0.150222
2011m11 59328 0.023635 0.0000007 -0.025844 0.016673 INTEL CORP 0.023634
2011m12 59328 -0.026495 0.0000002 0.003713 -0.106624 INTEL CORP -0.026495
2012m1 59328 0.089485 0.0000004 0.054103 0.113955 INTEL CORP 0.089485
2012m2 59328 0.02536 0.0000017 0.041181 -0.029673 INTEL CORP 0.025358
2012m3 59328 0.045945 0.0000011 0.024027 -0.013184 INTEL CORP 0.045944
2012m4 59328 0.009959 0.0000010 -0.006807 -0.00148 INTEL CORP 0.009958
2012m5 59328 -0.082585 0.0000018 -0.065889 -0.06338 INTEL CORP -0.082587
2012m6 59328 0.031347 0.0000008 0.03821 0.023546 INTEL CORP 0.031346
2012m7 59328 -0.035647 0.0000010 0.010294 0.008377 INTEL CORP -0.035648
2012m8 59328 -0.025097 0.0000014 0.026292 0.049396 INTEL CORP -0.025098
2012m9 59328 -0.087596 0.0000024 0.02651 0.046706 INTEL CORP -0.087598
2012m10 59328 -0.045244 0.0000015 -0.010424 -0.029437 INTEL CORP -0.045246
2012m11 59328 -0.085067 0.0000028 0.006512 -0.004675 INTEL CORP -0.08507
2012m12 59328 0.053923 0.0000032 0.012589 -0.024267 INTEL CORP 0.05392
2013m1 59328 0.020369 0.0000006 0.054154 -0.005064 INTEL CORP 0.020368
2013m2 59328 0.003089 0.0000011 0.008373 -0.050868 INTEL CORP 0.003088
2013m3 59328 0.045738 0.0000024 0.035316 0.009608 INTEL CORP 0.045736
2013m4 59328 0.096863 0.0000010 0.014946 -0.075743 INTEL CORP 0.096862
2013m5 59328 0.023173 0.0000010 0.019179 -0.061988 INTEL CORP 0.023172
2013m6 59328 -0.002059 0.0000006 -0.015043 -0.110588 INTEL CORP -0.00206
2013m7 59328 -0.036938 0.0000001 0.05263 0.074301 INTEL CORP -0.036938
2013m8 59328 -0.048425 0.0000003 -0.025734 0.052047 INTEL CORP -0.048425
2013m9 59328 0.042812 0.0000007 0.037509 -0.047838 INTEL CORP 0.042811
2013m10 59328 0.06758 0.0000007 0.035732 -0.003433 INTEL CORP 0.067579
2013m11 59328 -0.016551 0.0000010 0.023913 -0.055112 INTEL CORP -0.016552
2013m12 59328 0.088716 0.0000015 0.026197 -0.037945 INTEL CORP 0.088714
2014m1 59328 -0.054517 0.0000004 -0.029955 0.034189 INTEL CORP -0.054517
2014m2 59328 0.018134 0.0000008 0.04629 0.062703 INTEL CORP 0.018133
2014m3 59328 0.042569 0.0000013 0.004436 -0.031421 INTEL CORP 0.042568
2014m4 59328 0.033935 0.0000008 0.001423 0.004935 INTEL CORP 0.033934
2014m5 59328 0.032034 0.0000006 0.020251 -0.03051 INTEL CORP 0.032033
2014m6 59328 0.13104 0.0000011 0.028027 0.06319 INTEL CORP 0.131039
2014m7 59328 0.096764 0.0000004 -0.02053 -0.036317 INTEL CORP 0.096764
2014m8 59328 0.037032 0.0000002 0.040291 0.003809 INTEL CORP 0.037032
2014m9 59328 -0.002864 0.0000006 -0.025125 -0.061763 INTEL CORP -0.002865
2014m10 59328 -0.023263 0.0000004 0.037308 -0.030548 INTEL CORP -0.023263
2014m11 59328 0.101882 0.0000003 0.020212 -0.004882 INTEL CORP 0.101882
2014m12 59328 -0.025772 0.0000011 -0.003581 0.013112 INTEL CORP -0.025773
2015m1 59328 -0.089556 0.0000004 -0.027106 0.086899 INTEL CORP -0.089556
2015m2 59328 0.01362 0.0000004 0.056001 -0.059052 INTEL CORP 0.01362
2015m3 59328 -0.059549 0.0000007 -0.010326 -0.021522 INTEL CORP -0.05955
2015m4 59328 0.040934 0.0000007 0.008639 -0.001672 INTEL CORP 0.040933
2015m5 59328 0.066052 -0.0000001 0.010356 0.005552 INTEL CORP 0.066052
2015m6 59328 -0.117382 0.0000003 -0.01924 -0.015162 INTEL CORP -0.117382
2015m7 59328 -0.048167 0.0000001 0.012305 -0.06621 INTEL CORP -0.048167
2015m8 59328 -0.005872 0.0000008 -0.06006 0.037072 INTEL CORP -0.005873
2015m9 59328 0.056062 0.0000003 -0.033821 -0.018011 INTEL CORP 0.056062
2015m10 59328 0.123424 -0.0000003 0.074187 0.022834 INTEL CORP 0.123424
2015m11 59328 0.033963 0.0000003 0.006757 -0.067521 INTEL CORP 0.033963
2015m12 59328 -0.009203 0.0000028 -0.022347 -0.004513 INTEL CORP -0.009206
2016m1 59328 -0.099565 0.0000039 -0.056998 0.054102 INTEL CORP -0.099569
2016m2 59328 -0.037718 0.0000063 0.000687 0.109312 INTEL CORP -0.037724
2016m3 59328 0.093275 0.0000063 0.070505 -0.008429 INTEL CORP 0.093269
2016m4 59328 -0.063988 0.0000047 0.011831 0.051088 INTEL CORP -0.063993
2016m5 59328 0.051849 0.0000043 0.014392 -0.061383 INTEL CORP 0.051845
2016m6 59328 0.038303 0.0000050 0.003173 0.089695 INTEL CORP 0.038298
2016m7 59328 0.062805 0.0000051 0.038787 0.019847 INTEL CORP 0.0628
2016m8 59328 0.037005 0.0000050 0.002799 -0.032563 INTEL CORP 0.037
2016m9 59328 0.051825 0.0000068 0.003045 0.006892 INTEL CORP 0.051818
2016m10 59328 -0.076291 0.0000056 -0.027061 -0.029449 INTEL CORP -0.076297
2016m11 59328 0.002581 0.0000050 0.040419 -0.083566 INTEL CORP 0.002576
2016m12 59328 0.045245 0.0000069 0.018748 -0.01915 INTEL CORP 0.045238
2017m1 59328 0.015164 0.0000125 0.022173 0.054192 INTEL CORP 0.015151
2017m2 59328 -0.009777 0.0000131 0.032628 0.031848 INTEL CORP -0.00979
2017m3 59328 -0.003591 0.0000122 0.00205 -0.004277 INTEL CORP -0.003603
2017m4 59328 0.002218 0.0000201 0.009619 0.017267 INTEL CORP 0.002198
2017m5 59328 0.006432 0.0000183 0.009358 -0.001242 INTEL CORP 0.006414
2017m6 59328 -0.065633 0.0000203 0.009678 -0.021555 INTEL CORP -0.065653
2017m7 59328 0.051274 0.0000228 0.017181 0.023132 INTEL CORP 0.051251
2017m8 59328 -0.003595 0.0000268 0.001613 0.041988 INTEL CORP -0.003622
2017m9 59328 0.085828 0.0000250 0.023813 -0.033699 INTEL CORP 0.085803
2017m10 59328 0.19459 0.0000261 0.021348 -0.007485 INTEL CORP 0.194564
2017m11 59328 -0.008299 0.0000268 0.02741 0.003563 INTEL CORP -0.008326
2017m12 59328 0.029438 0.0000310 0.012287 0.021057 INTEL CORP 0.029407
2018m1 59328 0.042894 0.0000347 0.050688 0.032349 INTEL CORP 0.042859
2018m2 59328 0.030121 0.0000328 -0.039435 -0.02076 INTEL CORP 0.030088
2018m3 59328 0.056604 0.0000374 -0.018495 0.00632 INTEL CORP 0.056567
2018m4 59328 -0.008833 0.0000445 0.00484 -0.00954 INTEL CORP -0.008877
2018m5 59328 0.075165 0.0000450 0.026278 -0.011959 INTEL CORP 0.07512
2018m6 59328 -0.099457 0.0000477 0.005291 -0.036149 INTEL CORP -0.099505
2018m7 59328 -0.032388 0.0000481 0.031689 -0.022419 INTEL CORP -0.032436
2018m8 59328 0.013098 0.0000520 0.030352 -0.021381 INTEL CORP 0.013046
2018m9 59328 -0.023539 0.0000530 0.00048 -0.006607 INTEL CORP -0.023592
2018m10 59328 -0.00867 0.0000580 -0.07275 0.021195 INTEL CORP -0.008728
2018m11 59328 0.058234 0.0000598 0.044112 0.003387 INTEL CORP 0.058174
2018m12 59328 -0.048266 0.0000613 -0.074873 0.04942 INTEL CORP -0.048327
2019m1 59328 0.004049 0.0000627 0.088009 0.028866 INTEL CORP 0.003986
2019m2 59328 0.130624 0.0000659 0.032715 -0.006092 INTEL CORP 0.130558
2019m3 59328 0.013973 0.0000649 0.013366 -0.015969 INTEL CORP 0.013908
2019m4 59328 -0.049534 0.0000644 0.037867 -0.006639 INTEL CORP -0.049598
2019m5 59328 -0.130976 0.0000657 -0.061594 0.017574 INTEL CORP -0.131042
2019m6 59328 0.086966 0.0000624 0.067386 0.080029 INTEL CORP 0.086904
2019m7 59328 0.055985 0.0000541 0.013152 0.000075 INTEL CORP 0.055931
2019m8 59328 -0.055885 0.0000555 -0.020256 0.079123 INTEL CORP -0.05594
2019m9 59328 0.086901 0.0000539 0.01596 -0.033948 INTEL CORP 0.086847
2019m10 59328 0.097031 0.0000478 0.020896 0.025635 INTEL CORP 0.096983
2019m11 59328 0.032461 0.0000410 0.036646 -0.032086 INTEL CORP 0.03242
2019m12 59328 0.031008 0.0000428 0.028492 0.036559 INTEL CORP 0.030965
Excess Excess
market return on
return GLD
-0.026566 -0.036121
0.022643 0.030736 𝑟_𝑖−𝑟_𝑓=𝛼+𝛽_𝑀𝐾𝑇^𝑖 (𝑟_𝑀𝐾𝑇−𝑟_𝑓 )+𝛽_𝐺𝐿𝐷^𝑖 (𝑟_𝐺𝐿𝐷−𝑟_𝑓 )+𝜖_𝑖
-0.016919 -0.016153
-0.025293 0.012305 𝛽_𝐺 𝛽_𝑀 α
0.03792 -0.039289 𝐿𝐷 𝐾𝑇
0.011398 0.042901 Kinross Gold Corporation 1.920 0.300 -0.88%
0.043246 -0.014354 AngloGold Ashanti 1.824 0.095 -0.73%
-0.006102 0.013457 Barrick Gold Corporation 1.811 0.161 -0.82%
0.010501 0.075945 Newmont Corporation 1.449 0.202 -0.64%
-0.013827 -0.00651
0.034063 0.058088 Apple Inc. -0.072 1.079 2.10%
0.003389 0.050401 Microsoft Corporation -0.229 0.923 0.88%
0.039948 0.099154 Oracle Corporation -0.075 0.979 0.36%
-0.001743 -0.011226 Intel Corporation -0.297 0.946 0.53%
0.018848 0.036083
0.012951 0.120183
-0.031151 -0.013337 Gold Mining Stocks 1.751 0.189 -0.8%
-0.000448 -0.046837 Technology Stocks -0.168 0.982 1.0%
-0.009806 0.031399
0.025015 -0.013912
0.019271 -0.045412
0.034776 0.012823
0.025384 0.06875
0.010718 -0.018469
0.019463 0.0255
-0.014156 0.025316
0.01281 -0.011273
0.03962 0.020397
0.038779 -0.023233
-0.014952 -0.019508
-0.031838 0.023533
0.011557 0.010959
0.04072 0.104966
0.028716 0.069422
-0.035337 -0.016642
-0.004463 0.066377
-0.062145 0.108343
-0.021665 0.052255
-0.010393 -0.060049
0.051033 -0.041621
0.023789 0.009203
-0.078588 0.045114
-0.013095 -0.014484
0.010494 -0.092959
-0.098957 0.041077
-0.268252 -0.161412
-0.060764 0.125733
0.022323 0.077324
-0.078491 0.055363
-0.100512 0.014452
0.087011 -0.025374
0.109421 -0.033345
0.067854 0.102325
-0.0031 -0.052187
0.081807 0.023796
0.031331 0.000532
0.04527 0.058348
-0.031815 0.037227
0.051394 0.127864
0.028343 -0.072037
-0.037135 -0.012582
0.034774 0.032748
0.063637 -0.004389
0.020066 0.05883
-0.079218 0.030518
-0.05083 0.023541
0.070213 -0.050875
-0.042922 0.057057
0.091562 0.047751
0.037954 0.036819
0.008772 0.021109
0.067279 0.024364
0.019073 -0.0638
0.038129 0.059987
0.003426 0.01597
0.028689 0.089445
-0.014825 -0.017918
-0.018266 -0.024319
-0.022434 0.08417
-0.057319 0.122744
-0.084964 -0.110623
0.077098 0.058711
-0.025844 0.016672
0.003713 -0.106624
0.054102 0.113955
0.041179 -0.029675
0.024026 -0.013185
-0.006808 -0.001481
-0.065891 -0.063382
0.038209 0.023545
0.010293 0.008376
0.026291 0.049395
0.026507 0.046704
-0.010425 -0.029439
0.00651 -0.004678
0.012586 -0.02427
0.054153 -0.005065
0.008371 -0.050869
0.035314 0.009606
0.014945 -0.075744
0.019178 -0.061989
-0.015043 -0.110589
0.05263 0.074301
-0.025734 0.052047
0.037508 -0.047839
0.035731 -0.003434
0.023912 -0.055113
0.026195 -0.037947
-0.029955 0.034189
0.046289 0.062702
0.004434 -0.031422
0.001422 0.004934
0.020251 -0.030511
0.028026 0.063189
-0.02053 -0.036317
0.040291 0.003809
-0.025126 -0.061764
0.037308 -0.030548
0.020212 -0.004882
-0.003583 0.013111
-0.027106 0.086899
0.056 -0.059052
-0.010327 -0.021523
0.008638 -0.001673
0.010357 0.005552
-0.01924 -0.015162
0.012305 -0.06621
-0.060061 0.037071
-0.033821 -0.018011
0.074187 0.022834
0.006757 -0.067521
-0.022349 -0.004516
-0.057002 0.054098
0.000681 0.109306
0.070499 -0.008435
0.011826 0.051083
0.014387 -0.061387
0.003168 0.08969
0.038782 0.019842
0.002794 -0.032568
0.003038 0.006885
-0.027067 -0.029455
0.040414 -0.083571
0.018741 -0.019157
0.022161 0.054179
0.032615 0.031835
0.002038 -0.004289
0.009599 0.017247
0.00934 -0.00126
0.009658 -0.021575
0.017159 0.023109
0.001586 0.041961
0.023788 -0.033724
0.021322 -0.007511
0.027383 0.003536
0.012256 0.021026
0.050653 0.032314
-0.039468 -0.020793
-0.018532 0.006283
0.004796 -0.009584
0.026232 -0.012004
0.005244 -0.036197
0.031641 -0.022467
0.0303 -0.021433
0.000427 -0.00666
-0.072808 0.021137
0.044052 0.003327
-0.074934 0.049359
0.087946 0.028803
0.032649 -0.006158
0.013301 -0.016034
0.037803 -0.006703
-0.061659 0.017508
0.067323 0.079967
0.013098 2.093E-05
-0.020312 0.079068
0.015906 -0.034002
0.020848 0.025587
0.036605 -0.032127
0.02845 0.036516
-0.026566 -0.036121
0.022643 0.030736
-0.016919 -0.016153
-0.025293 0.012305
0.03792 -0.039289
0.011398 0.042901
0.043246 -0.014354
-0.006102 0.013457
0.010501 0.075945
-0.013827 -0.00651
0.034063 0.058088
0.003389 0.050401
0.039948 0.099154
-0.001743 -0.011226
0.018848 0.036083
0.012951 0.120183
-0.031151 -0.013337
-0.000448 -0.046837
-0.009806 0.031399
0.025015 -0.013912
0.019271 -0.045412
0.034776 0.012823
0.025384 0.06875
0.010718 -0.018469
0.019463 0.0255
-0.014156 0.025316
0.01281 -0.011273
0.03962 0.020397
0.038779 -0.023233
-0.014952 -0.019508
-0.031838 0.023533
0.011557 0.010959
0.04072 0.104966
0.028716 0.069422
-0.035337 -0.016642
-0.004463 0.066377
-0.062145 0.108343
-0.021665 0.052255
-0.010393 -0.060049
0.051033 -0.041621
0.023789 0.009203
-0.078588 0.045114
-0.013095 -0.014484
0.010494 -0.092959
-0.098957 0.041077
-0.268252 -0.161412
-0.060764 0.125733
0.022323 0.077324
-0.078491 0.055363
-0.100512 0.014452
0.087011 -0.025374
0.109421 -0.033345
0.067854 0.102325
-0.0031 -0.052187
0.081807 0.023796
0.031331 0.000532
0.04527 0.058348
-0.031815 0.037227
0.051394 0.127864
0.028343 -0.072037
-0.037135 -0.012582
0.034774 0.032748
0.063637 -0.004389
0.020066 0.05883
-0.079218 0.030518
-0.05083 0.023541
0.070213 -0.050875
-0.042922 0.057057
0.091562 0.047751
0.037954 0.036819
0.008772 0.021109
0.067279 0.024364
0.019073 -0.0638
0.038129 0.059987
0.003426 0.01597
0.028689 0.089445
-0.014825 -0.017918
-0.018266 -0.024319
-0.022434 0.08417
-0.057319 0.122744
-0.084964 -0.110623
0.077098 0.058711
-0.025844 0.016672
0.003713 -0.106624
0.054102 0.113955
0.041179 -0.029675
0.024026 -0.013185
-0.006808 -0.001481
-0.065891 -0.063382
0.038209 0.023545
0.010293 0.008376
0.026291 0.049395
0.026507 0.046704
-0.010425 -0.029439
0.00651 -0.004678
0.012586 -0.02427
0.054153 -0.005065
0.008371 -0.050869
0.035314 0.009606
0.014945 -0.075744
0.019178 -0.061989
-0.015043 -0.110589
0.05263 0.074301
-0.025734 0.052047
0.037508 -0.047839
0.035731 -0.003434
0.023912 -0.055113
0.026195 -0.037947
-0.029955 0.034189
0.046289 0.062702
0.004434 -0.031422
0.001422 0.004934
0.020251 -0.030511
0.028026 0.063189
-0.02053 -0.036317
0.040291 0.003809
-0.025126 -0.061764
0.037308 -0.030548
0.020212 -0.004882
-0.003583 0.013111
-0.027106 0.086899
0.056 -0.059052
-0.010327 -0.021523
0.008638 -0.001673
0.010357 0.005552
-0.01924 -0.015162
0.012305 -0.06621
-0.060061 0.037071
-0.033821 -0.018011
0.074187 0.022834
0.006757 -0.067521
-0.022349 -0.004516
-0.057002 0.054098
0.000681 0.109306
0.070499 -0.008435
0.011826 0.051083
0.014387 -0.061387
0.003168 0.08969
0.038782 0.019842
0.002794 -0.032568
0.003038 0.006885
-0.027067 -0.029455
0.040414 -0.083571
0.018741 -0.019157
0.022161 0.054179
0.032615 0.031835
0.002038 -0.004289
0.009599 0.017247
0.00934 -0.00126
0.009658 -0.021575
0.017159 0.023109
0.001586 0.041961
0.023788 -0.033724
0.021322 -0.007511
0.027383 0.003536
0.012256 0.021026
0.050653 0.032314
-0.039468 -0.020793
-0.018532 0.006283
0.004796 -0.009584
0.026232 -0.012004
0.005244 -0.036197
0.031641 -0.022467
0.0303 -0.021433
0.000427 -0.00666
-0.072808 0.021137
0.044052 0.003327
-0.074934 0.049359
0.087946 0.028803
0.032649 -0.006158
0.013301 -0.016034
0.037803 -0.006703
-0.061659 0.017508
0.067323 0.079967
0.013098 2.093E-05
-0.020312 0.079068
0.015906 -0.034002
0.020848 0.025587
0.036605 -0.032127
0.02845 0.036516
-0.026566 -0.036121
0.022643 0.030736
-0.016919 -0.016153
-0.025293 0.012305
0.03792 -0.039289
0.011398 0.042901
0.043246 -0.014354
-0.006102 0.013457
0.010501 0.075945
-0.013827 -0.00651
0.034063 0.058088
0.003389 0.050401
0.039948 0.099154
-0.001743 -0.011226
0.018848 0.036083
0.012951 0.120183
-0.031151 -0.013337
-0.000448 -0.046837
-0.009806 0.031399
0.025015 -0.013912
0.019271 -0.045412
0.034776 0.012823
0.025384 0.06875
0.010718 -0.018469
0.019463 0.0255
-0.014156 0.025316
0.01281 -0.011273
0.03962 0.020397
0.038779 -0.023233
-0.014952 -0.019508
-0.031838 0.023533
0.011557 0.010959
0.04072 0.104966
0.028716 0.069422
-0.035337 -0.016642
-0.004463 0.066377
-0.062145 0.108343
-0.021665 0.052255
-0.010393 -0.060049
0.051033 -0.041621
0.023789 0.009203
-0.078588 0.045114
-0.013095 -0.014484
0.010494 -0.092959
-0.098957 0.041077
-0.268252 -0.161412
-0.060764 0.125733
0.022323 0.077324
-0.078491 0.055363
-0.100512 0.014452
0.087011 -0.025374
0.109421 -0.033345
0.067854 0.102325
-0.0031 -0.052187
0.081807 0.023796
0.031331 0.000532
0.04527 0.058348
-0.031815 0.037227
0.051394 0.127864
0.028343 -0.072037
-0.037135 -0.012582
0.034774 0.032748
0.063637 -0.004389
0.020066 0.05883
-0.079218 0.030518
-0.05083 0.023541
0.070213 -0.050875
-0.042922 0.057057
0.091562 0.047751
0.037954 0.036819
0.008772 0.021109
0.067279 0.024364
0.019073 -0.0638
0.038129 0.059987
0.003426 0.01597
0.028689 0.089445
-0.014825 -0.017918
-0.018266 -0.024319
-0.022434 0.08417
-0.057319 0.122744
-0.084964 -0.110623
0.077098 0.058711
-0.025844 0.016672
0.003713 -0.106624
0.054102 0.113955
0.041179 -0.029675
0.024026 -0.013185
-0.006808 -0.001481
-0.065891 -0.063382
0.038209 0.023545
0.010293 0.008376
0.026291 0.049395
0.026507 0.046704
-0.010425 -0.029439
0.00651 -0.004678
0.012586 -0.02427
0.054153 -0.005065
0.008371 -0.050869
0.035314 0.009606
0.014945 -0.075744
0.019178 -0.061989
-0.015043 -0.110589
0.05263 0.074301
-0.025734 0.052047
0.037508 -0.047839
0.035731 -0.003434
0.023912 -0.055113
0.026195 -0.037947
-0.029955 0.034189
0.046289 0.062702
0.004434 -0.031422
0.001422 0.004934
0.020251 -0.030511
0.028026 0.063189
-0.02053 -0.036317
0.040291 0.003809
-0.025126 -0.061764
0.037308 -0.030548
0.020212 -0.004882
-0.003583 0.013111
-0.027106 0.086899
0.056 -0.059052
-0.010327 -0.021523
0.008638 -0.001673
0.010357 0.005552
-0.01924 -0.015162
0.012305 -0.06621
-0.060061 0.037071
-0.033821 -0.018011
0.074187 0.022834
0.006757 -0.067521
-0.022349 -0.004516
-0.057002 0.054098
0.000681 0.109306
0.070499 -0.008435
0.011826 0.051083
0.014387 -0.061387
0.003168 0.08969
0.038782 0.019842
0.002794 -0.032568
0.003038 0.006885
-0.027067 -0.029455
0.040414 -0.083571
0.018741 -0.019157
0.022161 0.054179
0.032615 0.031835
0.002038 -0.004289
0.009599 0.017247
0.00934 -0.00126
0.009658 -0.021575
0.017159 0.023109
0.001586 0.041961
0.023788 -0.033724
0.021322 -0.007511
0.027383 0.003536
0.012256 0.021026
0.050653 0.032314
-0.039468 -0.020793
-0.018532 0.006283
0.004796 -0.009584
0.026232 -0.012004
0.005244 -0.036197
0.031641 -0.022467
0.0303 -0.021433
0.000427 -0.00666
-0.072808 0.021137
0.044052 0.003327
-0.074934 0.049359
0.087946 0.028803
0.032649 -0.006158
0.013301 -0.016034
0.037803 -0.006703
-0.061659 0.017508
0.067323 0.079967
0.013098 2.093E-05
-0.020312 0.079068
0.015906 -0.034002
0.020848 0.025587
0.036605 -0.032127
0.02845 0.036516
-0.026566 -0.036121
0.022643 0.030736
-0.016919 -0.016153
-0.025293 0.012305
0.03792 -0.039289
0.011398 0.042901
0.043246 -0.014354
-0.006102 0.013457
0.010501 0.075945
-0.013827 -0.00651
0.034063 0.058088
0.003389 0.050401
0.039948 0.099154
-0.001743 -0.011226
0.018848 0.036083
0.012951 0.120183
-0.031151 -0.013337
-0.000448 -0.046837
-0.009806 0.031399
0.025015 -0.013912
0.019271 -0.045412
0.034776 0.012823
0.025384 0.06875
0.010718 -0.018469
0.019463 0.0255
-0.014156 0.025316
0.01281 -0.011273
0.03962 0.020397
0.038779 -0.023233
-0.014952 -0.019508
-0.031838 0.023533
0.011557 0.010959
0.04072 0.104966
0.028716 0.069422
-0.035337 -0.016642
-0.004463 0.066377
-0.062145 0.108343
-0.021665 0.052255
-0.010393 -0.060049
0.051033 -0.041621
0.023789 0.009203
-0.078588 0.045114
-0.013095 -0.014484
0.010494 -0.092959
-0.098957 0.041077
-0.268252 -0.161412
-0.060764 0.125733
0.022323 0.077324
-0.078491 0.055363
-0.100512 0.014452
0.087011 -0.025374
0.109421 -0.033345
0.067854 0.102325
-0.0031 -0.052187
0.081807 0.023796
0.031331 0.000532
0.04527 0.058348
-0.031815 0.037227
0.051394 0.127864
0.028343 -0.072037
-0.037135 -0.012582
0.034774 0.032748
0.063637 -0.004389
0.020066 0.05883
-0.079218 0.030518
-0.05083 0.023541
0.070213 -0.050875
-0.042922 0.057057
0.091562 0.047751
0.037954 0.036819
0.008772 0.021109
0.067279 0.024364
0.019073 -0.0638
0.038129 0.059987
0.003426 0.01597
0.028689 0.089445
-0.014825 -0.017918
-0.018266 -0.024319
-0.022434 0.08417
-0.057319 0.122744
-0.084964 -0.110623
0.077098 0.058711
-0.025844 0.016672
0.003713 -0.106624
0.054102 0.113955
0.041179 -0.029675
0.024026 -0.013185
-0.006808 -0.001481
-0.065891 -0.063382
0.038209 0.023545
0.010293 0.008376
0.026291 0.049395
0.026507 0.046704
-0.010425 -0.029439
0.00651 -0.004678
0.012586 -0.02427
0.054153 -0.005065
0.008371 -0.050869
0.035314 0.009606
0.014945 -0.075744
0.019178 -0.061989
-0.015043 -0.110589
0.05263 0.074301
-0.025734 0.052047
0.037508 -0.047839
0.035731 -0.003434
0.023912 -0.055113
0.026195 -0.037947
-0.029955 0.034189
0.046289 0.062702
0.004434 -0.031422
0.001422 0.004934
0.020251 -0.030511
0.028026 0.063189
-0.02053 -0.036317
0.040291 0.003809
-0.025126 -0.061764
0.037308 -0.030548
0.020212 -0.004882
-0.003583 0.013111
-0.027106 0.086899
0.056 -0.059052
-0.010327 -0.021523
0.008638 -0.001673
0.010357 0.005552
-0.01924 -0.015162
0.012305 -0.06621
-0.060061 0.037071
-0.033821 -0.018011
0.074187 0.022834
0.006757 -0.067521
-0.022349 -0.004516
-0.057002 0.054098
0.000681 0.109306
0.070499 -0.008435
0.011826 0.051083
0.014387 -0.061387
0.003168 0.08969
0.038782 0.019842
0.002794 -0.032568
0.003038 0.006885
-0.027067 -0.029455
0.040414 -0.083571
0.018741 -0.019157
0.022161 0.054179
0.032615 0.031835
0.002038 -0.004289
0.009599 0.017247
0.00934 -0.00126
0.009658 -0.021575
0.017159 0.023109
0.001586 0.041961
0.023788 -0.033724
0.021322 -0.007511
0.027383 0.003536
0.012256 0.021026
0.050653 0.032314
-0.039468 -0.020793
-0.018532 0.006283
0.004796 -0.009584
0.026232 -0.012004
0.005244 -0.036197
0.031641 -0.022467
0.0303 -0.021433
0.000427 -0.00666
-0.072808 0.021137
0.044052 0.003327
-0.074934 0.049359
0.087946 0.028803
0.032649 -0.006158
0.013301 -0.016034
0.037803 -0.006703
-0.061659 0.017508
0.067323 0.079967
0.013098 2.093E-05
-0.020312 0.079068
0.015906 -0.034002
0.020848 0.025587
0.036605 -0.032127
0.02845 0.036516
-0.026566 -0.036121
0.022643 0.030736
-0.016919 -0.016153
-0.025293 0.012305
0.03792 -0.039289
0.011398 0.042901
0.043246 -0.014354
-0.006102 0.013457
0.010501 0.075945
-0.013827 -0.00651
0.034063 0.058088
0.003389 0.050401
0.039948 0.099154
-0.001743 -0.011226
0.018848 0.036083
0.012951 0.120183
-0.031151 -0.013337
-0.000448 -0.046837
-0.009806 0.031399
0.025015 -0.013912
0.019271 -0.045412
0.034776 0.012823
0.025384 0.06875
0.010718 -0.018469
0.019463 0.0255
-0.014156 0.025316
0.01281 -0.011273
0.03962 0.020397
0.038779 -0.023233
-0.014952 -0.019508
-0.031838 0.023533
0.011557 0.010959
0.04072 0.104966
0.028716 0.069422
-0.035337 -0.016642
-0.004463 0.066377
-0.062145 0.108343
-0.021665 0.052255
-0.010393 -0.060049
0.051033 -0.041621
0.023789 0.009203
-0.078588 0.045114
-0.013095 -0.014484
0.010494 -0.092959
-0.098957 0.041077
-0.268252 -0.161412
-0.060764 0.125733
0.022323 0.077324
-0.078491 0.055363
-0.100512 0.014452
0.087011 -0.025374
0.109421 -0.033345
0.067854 0.102325
-0.0031 -0.052187
0.081807 0.023796
0.031331 0.000532
0.04527 0.058348
-0.031815 0.037227
0.051394 0.127864
0.028343 -0.072037
-0.037135 -0.012582
0.034774 0.032748
0.063637 -0.004389
0.020066 0.05883
-0.079218 0.030518
-0.05083 0.023541
0.070213 -0.050875
-0.042922 0.057057
0.091562 0.047751
0.037954 0.036819
0.008772 0.021109
0.067279 0.024364
0.019073 -0.0638
0.038129 0.059987
0.003426 0.01597
0.028689 0.089445
-0.014825 -0.017918
-0.018266 -0.024319
-0.022434 0.08417
-0.057319 0.122744
-0.084964 -0.110623
0.077098 0.058711
-0.025844 0.016672
0.003713 -0.106624
0.054102 0.113955
0.041179 -0.029675
0.024026 -0.013185
-0.006808 -0.001481
-0.065891 -0.063382
0.038209 0.023545
0.010293 0.008376
0.026291 0.049395
0.026507 0.046704
-0.010425 -0.029439
0.00651 -0.004678
0.012586 -0.02427
0.054153 -0.005065
0.008371 -0.050869
0.035314 0.009606
0.014945 -0.075744
0.019178 -0.061989
-0.015043 -0.110589
0.05263 0.074301
-0.025734 0.052047
0.037508 -0.047839
0.035731 -0.003434
0.023912 -0.055113
0.026195 -0.037947
-0.029955 0.034189
0.046289 0.062702
0.004434 -0.031422
0.001422 0.004934
0.020251 -0.030511
0.028026 0.063189
-0.02053 -0.036317
0.040291 0.003809
-0.025126 -0.061764
0.037308 -0.030548
0.020212 -0.004882
-0.003583 0.013111
-0.027106 0.086899
0.056 -0.059052
-0.010327 -0.021523
0.008638 -0.001673
0.010357 0.005552
-0.01924 -0.015162
0.012305 -0.06621
-0.060061 0.037071
-0.033821 -0.018011
0.074187 0.022834
0.006757 -0.067521
-0.022349 -0.004516
-0.057002 0.054098
0.000681 0.109306
0.070499 -0.008435
0.011826 0.051083
0.014387 -0.061387
0.003168 0.08969
0.038782 0.019842
0.002794 -0.032568
0.003038 0.006885
-0.027067 -0.029455
0.040414 -0.083571
0.018741 -0.019157
0.022161 0.054179
0.032615 0.031835
0.002038 -0.004289
0.009599 0.017247
0.00934 -0.00126
0.009658 -0.021575
0.017159 0.023109
0.001586 0.041961
0.023788 -0.033724
0.021322 -0.007511
0.027383 0.003536
0.012256 0.021026
0.050653 0.032314
-0.039468 -0.020793
-0.018532 0.006283
0.004796 -0.009584
0.026232 -0.012004
0.005244 -0.036197
0.031641 -0.022467
0.0303 -0.021433
0.000427 -0.00666
-0.072808 0.021137
0.044052 0.003327
-0.074934 0.049359
0.087946 0.028803
0.032649 -0.006158
0.013301 -0.016034
0.037803 -0.006703
-0.061659 0.017508
0.067323 0.079967
0.013098 2.093E-05
-0.020312 0.079068
0.015906 -0.034002
0.020848 0.025587
0.036605 -0.032127
0.02845 0.036516
-0.026566 -0.036121
0.022643 0.030736
-0.016919 -0.016153
-0.025293 0.012305
0.03792 -0.039289
0.011398 0.042901
0.043246 -0.014354
-0.006102 0.013457
0.010501 0.075945
-0.013827 -0.00651
0.034063 0.058088
0.003389 0.050401
0.039948 0.099154
-0.001743 -0.011226
0.018848 0.036083
0.012951 0.120183
-0.031151 -0.013337
-0.000448 -0.046837
-0.009806 0.031399
0.025015 -0.013912
0.019271 -0.045412
0.034776 0.012823
0.025384 0.06875
0.010718 -0.018469
0.019463 0.0255
-0.014156 0.025316
0.01281 -0.011273
0.03962 0.020397
0.038779 -0.023233
-0.014952 -0.019508
-0.031838 0.023533
0.011557 0.010959
0.04072 0.104966
0.028716 0.069422
-0.035337 -0.016642
-0.004463 0.066377
-0.062145 0.108343
-0.021665 0.052255
-0.010393 -0.060049
0.051033 -0.041621
0.023789 0.009203
-0.078588 0.045114
-0.013095 -0.014484
0.010494 -0.092959
-0.098957 0.041077
-0.268252 -0.161412
-0.060764 0.125733
0.022323 0.077324
-0.078491 0.055363
-0.100512 0.014452
0.087011 -0.025374
0.109421 -0.033345
0.067854 0.102325
-0.0031 -0.052187
0.081807 0.023796
0.031331 0.000532
0.04527 0.058348
-0.031815 0.037227
0.051394 0.127864
0.028343 -0.072037
-0.037135 -0.012582
0.034774 0.032748
0.063637 -0.004389
0.020066 0.05883
-0.079218 0.030518
-0.05083 0.023541
0.070213 -0.050875
-0.042922 0.057057
0.091562 0.047751
0.037954 0.036819
0.008772 0.021109
0.067279 0.024364
0.019073 -0.0638
0.038129 0.059987
0.003426 0.01597
0.028689 0.089445
-0.014825 -0.017918
-0.018266 -0.024319
-0.022434 0.08417
-0.057319 0.122744
-0.084964 -0.110623
0.077098 0.058711
-0.025844 0.016672
0.003713 -0.106624
0.054102 0.113955
0.041179 -0.029675
0.024026 -0.013185
-0.006808 -0.001481
-0.065891 -0.063382
0.038209 0.023545
0.010293 0.008376
0.026291 0.049395
0.026507 0.046704
-0.010425 -0.029439
0.00651 -0.004678
0.012586 -0.02427
0.054153 -0.005065
0.008371 -0.050869
0.035314 0.009606
0.014945 -0.075744
0.019178 -0.061989
-0.015043 -0.110589
0.05263 0.074301
-0.025734 0.052047
0.037508 -0.047839
0.035731 -0.003434
0.023912 -0.055113
0.026195 -0.037947
-0.029955 0.034189
0.046289 0.062702
0.004434 -0.031422
0.001422 0.004934
0.020251 -0.030511
0.028026 0.063189
-0.02053 -0.036317
0.040291 0.003809
-0.025126 -0.061764
0.037308 -0.030548
0.020212 -0.004882
-0.003583 0.013111
-0.027106 0.086899
0.056 -0.059052
-0.010327 -0.021523
0.008638 -0.001673
0.010357 0.005552
-0.01924 -0.015162
0.012305 -0.06621
-0.060061 0.037071
-0.033821 -0.018011
0.074187 0.022834
0.006757 -0.067521
-0.022349 -0.004516
-0.057002 0.054098
0.000681 0.109306
0.070499 -0.008435
0.011826 0.051083
0.014387 -0.061387
0.003168 0.08969
0.038782 0.019842
0.002794 -0.032568
0.003038 0.006885
-0.027067 -0.029455
0.040414 -0.083571
0.018741 -0.019157
0.022161 0.054179
0.032615 0.031835
0.002038 -0.004289
0.009599 0.017247
0.00934 -0.00126
0.009658 -0.021575
0.017159 0.023109
0.001586 0.041961
0.023788 -0.033724
0.021322 -0.007511
0.027383 0.003536
0.012256 0.021026
0.050653 0.032314
-0.039468 -0.020793
-0.018532 0.006283
0.004796 -0.009584
0.026232 -0.012004
0.005244 -0.036197
0.031641 -0.022467
0.0303 -0.021433
0.000427 -0.00666
-0.072808 0.021137
0.044052 0.003327
-0.074934 0.049359
0.087946 0.028803
0.032649 -0.006158
0.013301 -0.016034
0.037803 -0.006703
-0.061659 0.017508
0.067323 0.079967
0.013098 2.093E-05
-0.020312 0.079068
0.015906 -0.034002
0.020848 0.025587
0.036605 -0.032127
0.02845 0.036516
-0.026566 -0.036121
0.022643 0.030736
-0.016919 -0.016153
-0.025293 0.012305
0.03792 -0.039289
0.011398 0.042901
0.043246 -0.014354
-0.006102 0.013457
0.010501 0.075945
-0.013827 -0.00651
0.034063 0.058088
0.003389 0.050401
0.039948 0.099154
-0.001743 -0.011226
0.018848 0.036083
0.012951 0.120183
-0.031151 -0.013337
-0.000448 -0.046837
-0.009806 0.031399
0.025015 -0.013912
0.019271 -0.045412
0.034776 0.012823
0.025384 0.06875
0.010718 -0.018469
0.019463 0.0255
-0.014156 0.025316
0.01281 -0.011273
0.03962 0.020397
0.038779 -0.023233
-0.014952 -0.019508
-0.031838 0.023533
0.011557 0.010959
0.04072 0.104966
0.028716 0.069422
-0.035337 -0.016642
-0.004463 0.066377
-0.062145 0.108343
-0.021665 0.052255
-0.010393 -0.060049
0.051033 -0.041621
0.023789 0.009203
-0.078588 0.045114
-0.013095 -0.014484
0.010494 -0.092959
-0.098957 0.041077
-0.268252 -0.161412
-0.060764 0.125733
0.022323 0.077324
-0.078491 0.055363
-0.100512 0.014452
0.087011 -0.025374
0.109421 -0.033345
0.067854 0.102325
-0.0031 -0.052187
0.081807 0.023796
0.031331 0.000532
0.04527 0.058348
-0.031815 0.037227
0.051394 0.127864
0.028343 -0.072037
-0.037135 -0.012582
0.034774 0.032748
0.063637 -0.004389
0.020066 0.05883
-0.079218 0.030518
-0.05083 0.023541
0.070213 -0.050875
-0.042922 0.057057
0.091562 0.047751
0.037954 0.036819
0.008772 0.021109
0.067279 0.024364
0.019073 -0.0638
0.038129 0.059987
0.003426 0.01597
0.028689 0.089445
-0.014825 -0.017918
-0.018266 -0.024319
-0.022434 0.08417
-0.057319 0.122744
-0.084964 -0.110623
0.077098 0.058711
-0.025844 0.016672
0.003713 -0.106624
0.054102 0.113955
0.041179 -0.029675
0.024026 -0.013185
-0.006808 -0.001481
-0.065891 -0.063382
0.038209 0.023545
0.010293 0.008376
0.026291 0.049395
0.026507 0.046704
-0.010425 -0.029439
0.00651 -0.004678
0.012586 -0.02427
0.054153 -0.005065
0.008371 -0.050869
0.035314 0.009606
0.014945 -0.075744
0.019178 -0.061989
-0.015043 -0.110589
0.05263 0.074301
-0.025734 0.052047
0.037508 -0.047839
0.035731 -0.003434
0.023912 -0.055113
0.026195 -0.037947
-0.029955 0.034189
0.046289 0.062702
0.004434 -0.031422
0.001422 0.004934
0.020251 -0.030511
0.028026 0.063189
-0.02053 -0.036317
0.040291 0.003809
-0.025126 -0.061764
0.037308 -0.030548
0.020212 -0.004882
-0.003583 0.013111
-0.027106 0.086899
0.056 -0.059052
-0.010327 -0.021523
0.008638 -0.001673
0.010357 0.005552
-0.01924 -0.015162
0.012305 -0.06621
-0.060061 0.037071
-0.033821 -0.018011
0.074187 0.022834
0.006757 -0.067521
-0.022349 -0.004516
-0.057002 0.054098
0.000681 0.109306
0.070499 -0.008435
0.011826 0.051083
0.014387 -0.061387
0.003168 0.08969
0.038782 0.019842
0.002794 -0.032568
0.003038 0.006885
-0.027067 -0.029455
0.040414 -0.083571
0.018741 -0.019157
0.022161 0.054179
0.032615 0.031835
0.002038 -0.004289
0.009599 0.017247
0.00934 -0.00126
0.009658 -0.021575
0.017159 0.023109
0.001586 0.041961
0.023788 -0.033724
0.021322 -0.007511
0.027383 0.003536
0.012256 0.021026
0.050653 0.032314
-0.039468 -0.020793
-0.018532 0.006283
0.004796 -0.009584
0.026232 -0.012004
0.005244 -0.036197
0.031641 -0.022467
0.0303 -0.021433
0.000427 -0.00666
-0.072808 0.021137
0.044052 0.003327
-0.074934 0.049359
0.087946 0.028803
0.032649 -0.006158
0.013301 -0.016034
0.037803 -0.006703
-0.061659 0.017508
0.067323 0.079967
0.013098 2.093E-05
-0.020312 0.079068
0.015906 -0.034002
0.020848 0.025587
0.036605 -0.032127
0.02845 0.036516
-0.026566 -0.036121
0.022643 0.030736
-0.016919 -0.016153
-0.025293 0.012305
0.03792 -0.039289
0.011398 0.042901
0.043246 -0.014354
-0.006102 0.013457
0.010501 0.075945
-0.013827 -0.00651
0.034063 0.058088
0.003389 0.050401
0.039948 0.099154
-0.001743 -0.011226
0.018848 0.036083
0.012951 0.120183
-0.031151 -0.013337
-0.000448 -0.046837
-0.009806 0.031399
0.025015 -0.013912
0.019271 -0.045412
0.034776 0.012823
0.025384 0.06875
0.010718 -0.018469
0.019463 0.0255
-0.014156 0.025316
0.01281 -0.011273
0.03962 0.020397
0.038779 -0.023233
-0.014952 -0.019508
-0.031838 0.023533
0.011557 0.010959
0.04072 0.104966
0.028716 0.069422
-0.035337 -0.016642
-0.004463 0.066377
-0.062145 0.108343
-0.021665 0.052255
-0.010393 -0.060049
0.051033 -0.041621
0.023789 0.009203
-0.078588 0.045114
-0.013095 -0.014484
0.010494 -0.092959
-0.098957 0.041077
-0.268252 -0.161412
-0.060764 0.125733
0.022323 0.077324
-0.078491 0.055363
-0.100512 0.014452
0.087011 -0.025374
0.109421 -0.033345
0.067854 0.102325
-0.0031 -0.052187
0.081807 0.023796
0.031331 0.000532
0.04527 0.058348
-0.031815 0.037227
0.051394 0.127864
0.028343 -0.072037
-0.037135 -0.012582
0.034774 0.032748
0.063637 -0.004389
0.020066 0.05883
-0.079218 0.030518
-0.05083 0.023541
0.070213 -0.050875
-0.042922 0.057057
0.091562 0.047751
0.037954 0.036819
0.008772 0.021109
0.067279 0.024364
0.019073 -0.0638
0.038129 0.059987
0.003426 0.01597
0.028689 0.089445
-0.014825 -0.017918
-0.018266 -0.024319
-0.022434 0.08417
-0.057319 0.122744
-0.084964 -0.110623
0.077098 0.058711
-0.025844 0.016672
0.003713 -0.106624
0.054102 0.113955
0.041179 -0.029675
0.024026 -0.013185
-0.006808 -0.001481
-0.065891 -0.063382
0.038209 0.023545
0.010293 0.008376
0.026291 0.049395
0.026507 0.046704
-0.010425 -0.029439
0.00651 -0.004678
0.012586 -0.02427
0.054153 -0.005065
0.008371 -0.050869
0.035314 0.009606
0.014945 -0.075744
0.019178 -0.061989
-0.015043 -0.110589
0.05263 0.074301
-0.025734 0.052047
0.037508 -0.047839
0.035731 -0.003434
0.023912 -0.055113
0.026195 -0.037947
-0.029955 0.034189
0.046289 0.062702
0.004434 -0.031422
0.001422 0.004934
0.020251 -0.030511
0.028026 0.063189
-0.02053 -0.036317
0.040291 0.003809
-0.025126 -0.061764
0.037308 -0.030548
0.020212 -0.004882
-0.003583 0.013111
-0.027106 0.086899
0.056 -0.059052
-0.010327 -0.021523
0.008638 -0.001673
0.010357 0.005552
-0.01924 -0.015162
0.012305 -0.06621
-0.060061 0.037071
-0.033821 -0.018011
0.074187 0.022834
0.006757 -0.067521
-0.022349 -0.004516
-0.057002 0.054098
0.000681 0.109306
0.070499 -0.008435
0.011826 0.051083
0.014387 -0.061387
0.003168 0.08969
0.038782 0.019842
0.002794 -0.032568
0.003038 0.006885
-0.027067 -0.029455
0.040414 -0.083571
0.018741 -0.019157
0.022161 0.054179
0.032615 0.031835
0.002038 -0.004289
0.009599 0.017247
0.00934 -0.00126
0.009658 -0.021575
0.017159 0.023109
0.001586 0.041961
0.023788 -0.033724
0.021322 -0.007511
0.027383 0.003536
0.012256 0.021026
0.050653 0.032314
-0.039468 -0.020793
-0.018532 0.006283
0.004796 -0.009584
0.026232 -0.012004
0.005244 -0.036197
0.031641 -0.022467
0.0303 -0.021433
0.000427 -0.00666
-0.072808 0.021137
0.044052 0.003327
-0.074934 0.049359
0.087946 0.028803
0.032649 -0.006158
0.013301 -0.016034
0.037803 -0.006703
-0.061659 0.017508
0.067323 0.079967
0.013098 2.093E-05
-0.020312 0.079068
0.015906 -0.034002
0.020848 0.025587
0.036605 -0.032127
0.02845 0.036516
(𝑟_𝐺𝐿𝐷−𝑟_𝑓 )+𝜖_𝑖
Assume that the returns on all stocks satisfy the exact 2-factor APT model with the stock market and the gold ETF as the two f
Suppose we are given a forecast for the expected excess monthly returns going forward:
Market 0.75%
Gold 0.15%
Using the average factor loadings we’ve computed, compute the expected excess return for the technology sector, and the go
𝑟 ̅_𝑝−𝑟_𝑓=𝜆_𝑀𝐾𝑇 𝑏_𝑀𝐾𝑇+𝜆_𝐺𝐿𝐷 𝑏_𝐺𝐿𝐷
Loadings
Gold Market
Gold Mining Stocks 1.75 0.19
Technology Stocks -0.17 0.98
Expected return on technology sector 0.71%
Expected return on the gold mining sector 0.40%

nd the gold ETF as the two factors. Let’s take our estimated factor loadings as exact.
chnology sector, and the gold mining sector.

APT Question 5 Solutions

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

APT Question 5 Solutions

Uploaded by

Copyright:

Available Formats

Two-factor APT model.

Risk factors: the market factor, the price of gold.

Gold Mining Firms

2005m1 10107 -0.016467 0.0000479 -0.026518 -0.036073 MICROSOFT CORP -0.016515

2005m1 10104 0.003644 0.0000479 -0.026518 -0.036073 ORACLE CORP 0.003596

2005m1 59328 -0.040188 0.0000479 -0.026518 -0.036073 INTEL CORP -0.040236

𝑟 ̅_𝑝−𝑟_𝑓=𝜆_𝑀𝐾𝑇 𝑏_𝑀𝐾𝑇+𝜆_𝐺𝐿𝐷 𝑏_𝐺𝐿𝐷

Expected return on technology sector 0.71%

Expected return on the gold mining sector 0.40%

chnology sector, and the gold mining sector.

You might also like