Risk256.

com
Quantitative Financial Risk Management
Introduction

To construct our Monte Carlo simulation, we need to use Excel's DataTable feature. The next two
tabs provide a brief introduction to DataTables. If you are already familiar with DataTables skip to
the Monte Carlo tabs.

le feature. The next two

r with DataTables skip to

Risk256.com
Quantitative Financial Risk Management

Model

DataTable

Numbers from
the first column
of the DataTable
get substituted
into this cell.

X2

The result from

this cell ends up
in the second
column of the
DataTable.

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DataTable Introduction

DataTables are not very intuitive, but they can be extremely useful. A DataT
automatically see how changing the inputs to an equation or series of equat
output. In this example we have an extremely simple equation, cell C7 is sim

The first column of the DataTable contains the inputs. These are the values
substituted into cell B7. These can be anything that you want. In this examp
integers 1-16.

We set the cell at the top of the second column equal to the output from our
add additional columns with additional outputs, but, for now, we limit oursel
Data Table

xtremely useful. A DataTable allows you to

quation or series of equations will impact the
le equation, cell C7 is simply cell B7 squared.

ts. These are the values that will be

you want. In this example we have the

al to the output from our equation. We could

, for now, we limit ourselves to one output.

Risk256.com
Quantitative Financial Risk Management

X2
2

Numbers from
the first column
of the DataTable
get substituted
into this cell.

X2

The result from

this cell ends up
in the second
column of the
DataTable.

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DataTable Introduction

Next we insert our DataTable. First select the DataTable range, cells F7: G23
easiest way to insert the DataTable is to go to the Data tab, click What-If An
Tools box, and select DataTable. An equation box with "Row input cell:" and
should appear. Because the inputs and outputs of our DataTable are arrange
enter our input cell $B$7 into the "Column input cell:" box (you can type B7
cell). Select OK, and you are done. Excel should then fills out the second col
with the value we would have obtained in cell C7 if the value in the first colu

Data Table

This example is a bit contrived. Given how simple our equation is, it would h
to enter the equation into the second column of the table directly (enter it in
copy it down). As we will see, DataTable are most useful when we are dealin
of equations.

able range, cells F7: G23. In Excel 2007, the

Data tab, click What-If Analysis in the Data
th "Row input cell:" and "Column input cell:"
ur DataTable are arranged in columns, we
l:" box (you can type B7, or simply click on the
n fills out the second column of the DataTable
the value in the first column had been in B7.

ur equation is, it would have been easier just

table directly (enter it into the first cell and
seful when we are dealing with complex series

Risk256.com
Quantitative Financial Risk Management

U[0,1]
N(0,1)
0.252519 -0.666584

DataTable dummy

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N(0,1)
-0.66658
-0.66658
-0.66658
-0.66658
-0.66658
-0.66658
-0.66658
-0.66658
-0.66658
-0.66658
-0.66658
-0.66658
-0.66658
-0.66658
-0.66658
-0.66658
-0.66658

mean -0.66658
standard deviation 0.00000

Data Table

Very Simple Monte Carlo

In this example, we created a standard normal random variable in cell C7. We then use
DataTable to collect 16 draws from the random variable. We have calculated the mean
standard deviation of this output. Hitting the F9 key will recalculate all 16 values.

How did we do this? The first row of the DataTable contains the integers 1 through 16.
these numbers would be the inputs for our DataTable, but, in this setup, their values do
matter. We could just as easily have left them blank. The topmost cell of the second co
G7, points to our standard normal random variable in cell C7.
Data Table

When we insert the DataTable, we select cells F7:G23, and set the "Column input cell:"
blank cell (in this case, cell D10). Behind the scenes Excel is substituting the values fro
column into the empty cell, and recalculating the worksheet. Our random variable is co
independent of the empty cell but the worksheet still gets recalculated. It's as if we had
the F9 key 16 times.

This example is very simple, and we could have done something similar without a Data
next example is a bit more complicated and starts to hint at the power of this approach

e in cell C7. We then use the

ave calculated the mean and
ulate all 16 values.

e integers 1 through 16. Normally

his setup, their values don't really
ost cell of the second column, cell

the "Column input cell:" to any

ubstituting the values from the first
Our random variable is completely
alculated. It's as if we had pushed

ng similar without a DataTable. The

he power of this approach.

Risk256.com
Quantitative Financial Risk Management

Inputs
Diffusion
Jump

One Trial
t
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1
2
3
4
5
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7
8
9
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11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30

Mean
Std Dev
P[Jump]
Mean
Std Dev

U[0,1]
0.3754
0.3617
0.6446
0.8233
0.1629
0.7181
0.0135
0.1532
0.2469
0.8272
0.5084
0.3529
0.9112
0.0953
0.7177
0.9084
0.1450
0.9659
0.4034
0.2090
0.8787
0.9200
0.7785
0.2662
0.8610
0.2952
0.3049
0.7061
0.9423
0.3276

Output (one trial)

total log return
total return

0.05%
1.00%
0.25%
-2.00%
3.00%

U[0,1]
0.1686
0.1750
0.3319
0.7209
0.4473
0.5368
0.9523
0.5874
0.2861
0.0225
0.2714
0.1909
0.0576
0.7180
0.9713
0.4915
0.1267
0.5535
0.0356
0.8732
0.8410
0.9242
0.2029
0.2787
0.2065
0.8742
0.9138
0.3689
0.9382
0.3354

U[0,1]
0.7431
0.7690
0.0855
0.4260
0.9939
0.0959
0.7618
0.0837
0.8908
0.9524
0.2902
0.2521
0.9539
0.3620
0.8140
0.5460
0.7012
0.2309
0.3876
0.7615
0.8009
0.4359
0.3283
0.0752
0.3099
0.5826
0.8017
0.5967
0.3734
0.6379

Diffusion
-0.27%
-0.30%
0.42%
0.98%
-0.93%
0.63%
-2.16%
-0.97%
-0.63%
0.99%
0.07%
-0.33%
1.40%
-1.26%
0.63%
1.38%
-1.01%
1.87%
-0.19%
-0.76%
1.22%
1.45%
0.82%
-0.57%
1.13%
-0.49%
-0.46%
0.59%
1.62%
-0.40%

Jump
-4.88%
-4.80%
-3.30%
-0.24%
-2.40%
-1.72%
3.00%
-1.34%
-3.69%
-8.01%
-3.83%
-4.62%
-6.73%
-0.27%
3.70%
-2.06%
-5.43%
-1.60%
-7.41%
1.42%
1.00%
2.30%
-4.49%
-3.76%
-4.46%
1.44%
2.09%
-3.00%
2.62%
-3.27%

Jump?
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

31
32
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42
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44
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46
47
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55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75

0.6794
0.5093
0.8527
0.3655
0.5787
0.3378
0.5573
0.2422
0.5109
0.7336
0.0581
0.4001
0.4425
0.3334
0.5860
0.2474
0.5205
0.7238
0.3580
0.8517
0.3270
0.6763
0.5913
0.4934
0.7009
0.7207
0.2332
0.1717
0.7141
0.4557
0.1078
0.1602
0.4204
0.6654
0.6431
0.4709
0.3620
0.8712
0.7190
0.1155
0.0024
0.9653
0.1185
0.1003
0.8441

0.4289
0.9875
0.8685
0.8905
0.3222
0.1645
0.4792
0.4514
0.3605
0.3900
0.5298
0.7241
0.9865
0.3496
0.5722
0.9630
0.8694
0.7181
0.0594
0.3882
0.0549
0.1367
0.0604
0.5227
0.0545
0.3066
0.8323
0.3690
0.0508
0.0236
0.3936
0.5571
0.4015
0.7565
0.0930
0.8199
0.6569
0.1043
0.2455
0.9419
0.2315
0.5154
0.8025
0.4405
0.5661

0.0748
0.7307
0.8515
0.4714
0.5262
0.8821
0.5554
0.3762
0.5603
0.9205
0.8967
0.9462
0.2433
0.1787
0.6804
0.7605
0.9367
0.1040
0.5292
0.2786
0.5641
0.7035
0.5399
0.1718
0.2126
0.4292
0.0814
0.3152
0.3532
0.4425
0.1263
0.0631
0.4026
0.9270
0.1838
0.5907
0.8345
0.9473
0.7957
0.8095
0.5117
0.3827
0.6389
0.5691
0.7613

0.52%
0.07%
1.10%
-0.29%
0.25%
-0.37%
0.19%
-0.65%
0.08%
0.67%
-1.52%
-0.20%
-0.09%
-0.38%
0.27%
-0.63%
0.10%
0.64%
-0.31%
1.09%
-0.40%
0.51%
0.28%
0.03%
0.58%
0.63%
-0.68%
-0.90%
0.62%
-0.06%
-1.19%
-0.94%
-0.15%
0.48%
0.42%
-0.02%
-0.30%
1.18%
0.63%
-1.15%
-2.77%
1.87%
-1.13%
-1.23%
1.06%

-2.54%
4.72%
1.36%
1.69%
-3.38%
-4.93%
-2.16%
-2.37%
-3.07%
-2.84%
-1.78%
-0.21%
4.64%
-3.16%
-1.45%
3.36%
1.37%
-0.27%
-6.68%
-2.85%
-6.80%
-5.29%
-6.65%
-1.83%
-6.81%
-3.52%
0.89%
-3.00%
-6.91%
-7.95%
-2.81%
-1.57%
-2.75%
0.09%
-5.97%
0.74%
-0.79%
-5.77%
-4.07%
2.71%
-4.20%
-1.88%
0.55%
-2.45%
-1.50%

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

76
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79
80
81
82
83
84
85
86
87
88
89
90
91
92
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94
95
96
97
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100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120

0.3326
0.7626
0.3160
0.9456
0.6262
0.0561
0.8041
0.4022
0.4417
0.4424
0.1533
0.3888
0.0473
0.8028
0.6856
0.4033
0.7267
0.9461
0.6142
0.6411
0.0929
0.8956
0.4990
0.4306
0.4916
0.3504
0.0937
0.2269
0.3823
0.9569
0.1313
0.7984
0.6383
0.5161
0.2752
0.9643
0.5756
0.9277
0.3637
0.7596
0.4768
0.6281
0.5791
0.6109
0.1484

0.8478
0.4026
0.3781
0.2993
0.1111
0.6881
0.9606
0.1046
0.7940
0.7392
0.1703
0.1339
0.7838
0.8484
0.4567
0.7416
0.4772
0.5229
0.1120
0.7093
0.6963
0.3675
0.0378
0.2511
0.4884
0.0233
0.2907
0.7631
0.8140
0.4840
0.6403
0.0704
0.9510
0.6361
0.2871
0.7570
0.7710
0.7691
0.0095
0.7150
0.5264
0.7708
0.8964
0.9656
0.1142

0.1410
0.9593
0.3866
0.3764
0.0468
0.6118
0.3710
0.0253
0.7227
0.8756
0.2310
0.3449
0.7279
0.6229
0.0122
0.0292
0.0319
0.8068
0.0028
0.6019
0.4353
0.6193
0.6426
0.2543
0.5547
0.2568
0.9108
0.0110
0.4390
0.5227
0.7247
0.8681
0.9133
0.6394
0.1749
0.2453
0.7379
0.9042
0.6757
0.8207
0.9586
0.2287
0.8435
0.8525
0.9758

-0.38%
0.76%
-0.43%
1.65%
0.37%
-1.54%
0.91%
-0.20%
-0.10%
-0.09%
-0.97%
-0.23%
-1.62%
0.90%
0.53%
-0.19%
0.65%
1.66%
0.34%
0.41%
-1.27%
1.31%
0.05%
-0.12%
0.03%
-0.33%
-1.27%
-0.70%
-0.25%
1.77%
-1.07%
0.89%
0.40%
0.09%
-0.55%
1.85%
0.24%
1.51%
-0.30%
0.75%
-0.01%
0.38%
0.25%
0.33%
-0.99%

1.08%
-2.74%
-2.93%
-3.58%
-5.66%
-0.53%
3.27%
-5.77%
0.46%
-0.08%
-4.86%
-5.32%
0.36%
1.09%
-2.33%
-0.05%
-2.17%
-1.83%
-5.65%
-0.35%
-0.46%
-3.02%
-7.33%
-4.01%
-2.09%
-7.97%
-3.65%
0.15%
0.68%
-2.12%
-0.92%
-6.42%
2.96%
-0.96%
-3.69%
0.09%
0.23%
0.21%
-9.04%
-0.30%
-1.80%
0.22%
1.78%
3.46%
-5.61%

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165

0.6697
0.8228
0.2309
0.4362
0.8081
0.9140
0.6646
0.6890
0.9253
0.8861
0.2488
0.0711
0.3392
0.9354
0.6927
0.2689
0.8084
0.5975
0.9106
0.9071
0.7242
0.5200
0.9690
0.6454
0.4072
0.3064
0.3815
0.4707
0.9632
0.6788
0.0663
0.4920
0.4604
0.4561
0.7998
0.4725
0.7507
0.0578
0.8703
0.6757
0.8693
0.4696
0.7224
0.2551
0.7944

0.6556
0.9412
0.5089
0.4229
0.3972
0.6230
0.8039
0.7784
0.0819
0.2673
0.5143
0.3950
0.4528
0.3007
0.9721
0.7109
0.7922
0.9138
0.0637
0.5716
0.1665
0.2234
0.5854
0.0527
0.4616
0.3183
0.2753
0.8123
0.8935
0.8199
0.4461
0.5988
0.9393
0.4351
0.9855
0.1123
0.4531
0.0571
0.2539
0.4061
0.2604
0.4775
0.7901
0.0300
0.3389

0.9501
0.7452
0.4381
0.2664
0.8037
0.5554
0.8213
0.1051
0.2308
0.6884
0.9083
0.8971
0.1195
0.6422
0.2667
0.3822
0.3121
0.2378
0.1020
0.2896
0.4914
0.1505
0.3170
0.5219
0.6914
0.7137
0.8907
0.0749
0.2937
0.0550
0.5172
0.6599
0.3873
0.7440
0.8867
0.6203
0.9703
0.0227
0.8575
0.8783
0.2263
0.7826
0.7401
0.6071
0.4626

0.49%
0.98%
-0.69%
-0.11%
0.92%
1.42%
0.47%
0.54%
1.49%
1.26%
-0.63%
-1.42%
-0.36%
1.57%
0.55%
-0.57%
0.92%
0.30%
1.39%
1.37%
0.65%
0.10%
1.92%
0.42%
-0.18%
-0.46%
-0.25%
-0.02%
1.84%
0.51%
-1.45%
0.03%
-0.05%
-0.06%
0.89%
-0.02%
0.73%
-1.52%
1.18%
0.51%
1.17%
-0.03%
0.64%
-0.61%
0.87%

-0.80%
2.70%
-1.93%
-2.58%
-2.78%
-1.06%
0.57%
0.30%
-6.18%
-3.86%
-1.89%
-2.80%
-2.36%
-3.57%
3.74%
-0.33%
0.44%
2.09%
-6.57%
-1.46%
-4.90%
-4.28%
-1.35%
-6.86%
-2.29%
-3.42%
-3.79%
0.66%
1.74%
0.75%
-2.41%
-1.25%
2.65%
-2.49%
4.55%
-5.64%
-2.35%
-6.74%
-3.99%
-2.71%
-3.93%
-2.17%
0.42%
-7.64%
-3.25%

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

166
167
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180
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190
191
192
193
194
195
196
197
198
199
200
201
202
203
204
205
206
207
208
209
210

0.5826
0.7660
0.1185
0.7243
0.1379
0.4302
0.0041
0.0841
0.4907
0.2612
0.1484
0.8588
0.3463
0.7487
0.5463
0.0127
0.8119
0.8940
0.5765
0.3899
0.4379
0.0855
0.1263
0.6053
0.1834
0.4798
0.2251
0.1718
0.1145
0.0763
0.1416
0.0189
0.5842
0.1232
0.6215
0.0477
0.4318
0.1400
0.1353
0.2618
0.8835
0.4931
0.5601
0.4713
0.8755

0.1796
0.0371
0.4679
0.5503
0.9194
0.5381
0.7789
0.7089
0.0522
0.1938
0.8535
0.1898
0.2403
0.8759
0.5879
0.1449
0.2349
0.2388
0.6501
0.0580
0.9421
0.2015
0.8316
0.7092
0.3741
0.1680
0.3242
0.8808
0.5444
0.4491
0.8848
0.5460
0.8830
0.8414
0.0595
0.5115
0.2252
0.4295
0.3992
0.1826
0.1272
0.9946
0.7539
0.4150
0.3135

0.9102
0.1379
0.4582
0.7213
0.9075
0.9090
0.1104
0.6488
0.3187
0.9116
0.7335
0.9133
0.2760
0.7986
0.8659
0.4087
0.4392
0.0572
0.9296
0.7026
0.7139
0.5072
0.8316
0.8338
0.4559
0.1272
0.0022
0.0655
0.4578
0.1488
0.6998
0.5436
0.7100
0.3957
0.9022
0.9310
0.0640
0.7898
0.3340
0.3197
0.4198
0.3988
0.9922
0.5956
0.8346

0.26%
0.78%
-1.13%
0.65%
-1.04%
-0.13%
-2.59%
-1.33%
0.03%
-0.59%
-0.99%
1.13%
-0.35%
0.72%
0.17%
-2.19%
0.93%
1.30%
0.24%
-0.23%
-0.11%
-1.32%
-1.09%
0.32%
-0.85%
0.00%
-0.71%
-0.90%
-1.15%
-1.38%
-1.02%
-2.03%
0.26%
-1.11%
0.36%
-1.62%
-0.12%
-1.03%
-1.05%
-0.59%
1.24%
0.03%
0.20%
-0.02%
1.20%

-4.75%
-7.36%
-2.24%
-1.62%
2.20%
-1.71%
0.31%
-0.35%
-6.87%
-4.59%
1.16%
-4.64%
-4.12%
1.46%
-1.33%
-5.18%
-4.17%
-4.13%
-0.84%
-6.71%
2.72%
-4.51%
0.88%
-0.35%
-2.96%
-4.89%
-3.37%
1.54%
-1.67%
-2.38%
1.60%
-1.65%
1.57%
1.00%
-6.68%
-1.91%
-4.26%
-2.53%
-2.77%
-4.72%
-5.42%
5.64%
0.06%
-2.64%
-3.46%

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

211
212
213
214
215
216
217
218
219
220
221
222
223
224
225
226
227
228
229
230
231
232
233
234
235
236
237
238
239
240
241
242
243
244
245
246
247
248
249
250
251
252
253
254
255

0.8328
0.7642
0.3920
0.6352
0.0356
0.6967
0.2843
0.1375
0.2081
0.7441
0.3616
0.5536
0.3943
0.0875
0.5084
0.8506
0.2260
0.7621
0.8592
0.3000
0.7014
0.2175
0.7671
0.7112
0.6724
0.5639
0.0570
0.9493
0.3408
0.9979
0.6227
0.1867
0.4511
0.7358
0.2615
0.4970
0.5898
0.3372
0.5955
0.3078
0.0781
0.1195
0.7532
0.2714
0.3972

0.5798
0.3306
0.3618
0.2783
0.5719
0.9427
0.2499
0.3834
0.9644
0.8787
0.9086
0.4519
0.3899
0.8186
0.3814
0.0782
0.2098
0.4908
0.5029
0.8062
0.7227
0.9404
0.3363
0.9798
0.9802
0.1950
0.5766
0.6107
0.1240
0.9169
0.8608
0.1855
0.9424
0.1557
0.2394
0.5356
0.8252
0.1345
0.8131
0.3130
0.4885
0.1321
0.4727
0.1672
0.2967

0.2450
0.4737
0.3972
0.4482
0.6893
0.9650
0.8970
0.3064
0.5542
0.5188
0.5884
0.8994
0.9496
0.5846
0.7524
0.6878
0.5813
0.5463
0.7152
0.9449
0.0393
0.0985
0.7789
0.9517
0.5615
0.1519
0.2257
0.7655
0.2932
0.2278
0.4558
0.9711
0.3627
0.7338
0.5636
0.5460
0.1083
0.4141
0.6301
0.6549
0.8628
0.8008
0.0263
0.4186
0.2226

1.02%
0.77%
-0.22%
0.40%
-1.75%
0.56%
-0.52%
-1.04%
-0.76%
0.71%
-0.30%
0.18%
-0.22%
-1.31%
0.07%
1.09%
-0.70%
0.76%
1.13%
-0.47%
0.58%
-0.73%
0.78%
0.61%
0.50%
0.21%
-1.53%
1.69%
-0.36%
2.91%
0.36%
-0.84%
-0.07%
0.68%
-0.59%
0.04%
0.28%
-0.37%
0.29%
-0.45%
-1.37%
-1.13%
0.73%
-0.56%
-0.21%

-1.40%
-3.31%
-3.06%
-3.76%
-1.46%
2.73%
-4.02%
-2.89%
3.41%
1.51%
2.00%
-2.36%
-2.84%
0.73%
-2.91%
-6.25%
-4.42%
-2.07%
-1.98%
0.59%
-0.23%
2.67%
-3.27%
4.15%
4.17%
-4.58%
-1.42%
-1.16%
-5.47%
2.15%
1.25%
-4.68%
2.72%
-5.04%
-4.12%
-1.73%
0.81%
-5.32%
0.67%
-3.46%
-2.09%
-5.35%
-2.21%
-4.90%
-3.60%

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

256
257
258
259
260
261
262
263
264
265
266
267
268
269
270
271
272
273
274
275
276
277
278
279
280
281
282
283
284
285
286
287
288
289
290
291
292
293
294
295
296
297
298
299
300

0.6325
0.6985
0.0524
0.8767
0.1545
0.3586
0.2975
0.1326
0.6102
0.0684
0.8631
0.3066
0.6130
0.1383
0.0583
0.1442
0.7479
0.7868
0.9827
0.6980
0.4347
0.8625
0.0710
0.6594
0.9520
0.4887
0.0430
0.6155
0.4348
0.9702
0.6824
0.8431
0.1639
0.1449
0.8227
0.4089
0.5998
0.8712
0.4590
0.2850
0.7905
0.9516
0.3973
0.4127
0.4020

0.0730
0.7545
0.5349
0.3403
0.4996
0.0380
0.8023
0.0733
0.3451
0.4484
0.6757
0.9989
0.0209
0.2551
0.4622
0.6810
0.0982
0.8176
0.0322
0.2572
0.4467
0.6984
0.2089
0.6137
0.0830
0.2167
0.9890
0.5497
0.6581
0.1050
0.9206
0.1901
0.3859
0.7781
0.2958
0.0071
0.7349
0.3541
0.6932
0.1998
0.6164
0.4434
0.0763
0.1182
0.9287

0.0608
0.6850
0.9323
0.9972
0.9732
0.6044
0.8488
0.0369
0.2651
0.3504
0.5097
0.9204
0.6915
0.8316
0.9481
0.8158
0.8725
0.8085
0.4618
0.4065
0.6717
0.7648
0.4251
0.7804
0.0242
0.5119
0.1450
0.6080
0.5679
0.1840
0.5762
0.6740
0.8770
0.8817
0.5740
0.3539
0.7872
0.6218
0.2202
0.4811
0.2500
0.3029
0.1049
0.8734
0.6498

0.39%
0.57%
-1.57%
1.21%
-0.97%
-0.31%
-0.48%
-1.06%
0.33%
-1.44%
1.14%
-0.46%
0.34%
-1.04%
-1.52%
-1.01%
0.72%
0.85%
2.16%
0.57%
-0.11%
1.14%
-1.42%
0.46%
1.71%
0.02%
-1.67%
0.34%
-0.11%
1.93%
0.52%
1.06%
-0.93%
-1.01%
0.98%
-0.18%
0.30%
1.18%
-0.05%
-0.52%
0.86%
1.71%
-0.21%
-0.17%
-0.20%

-6.36%
0.07%
-1.74%
-3.23%
-2.00%
-7.32%
0.55%
-6.35%
-3.20%
-2.39%
-0.63%
7.19%
-8.11%
-3.98%
-2.28%
-0.59%
-5.88%
0.72%
-7.55%
-3.96%
-2.40%
-0.44%
-4.43%
-1.13%
-6.16%
-4.35%
4.87%
-1.63%
-0.78%
-5.76%
2.23%
-4.63%
-2.87%
0.30%
-3.61%
-9.35%
-0.12%
-3.12%
-0.48%
-4.53%
-1.11%
-2.43%
-6.29%
-5.55%
2.40%

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

301
302
303
304
305
306
307
308
309
310
311
312
313
314
315
316
317
318
319
320
321
322
323
324
325
326
327
328
329
330
331
332
333
334
335
336
337
338
339
340
341
342
343
344
345

0.1290
0.2924
0.8809
0.7455
0.1014
0.8859
0.5296
0.8305
0.0413
0.7784
0.2289
0.9701
0.0058
0.5464
0.8158
0.6143
0.0628
0.9866
0.1731
0.6672
0.5850
0.4788
0.9469
0.8528
0.8913
0.6815
0.1072
0.1098
0.2408
0.3263
0.4166
0.2608
0.5007
0.4846
0.6871
0.4274
0.9864
0.9006
0.0084
0.1754
0.7000
0.6209
0.5062
0.4104
0.7459

0.9884
0.6882
0.3939
0.2581
0.8353
0.7336
0.6801
0.2426
0.5550
0.0793
0.8128
0.0443
0.0625
0.7062
0.3909
0.9809
0.3870
0.2492
0.1777
0.5655
0.9547
0.8974
0.0126
0.9105
0.3615
0.3351
0.0377
0.9170
0.9936
0.9156
0.6449
0.6997
0.6234
0.9925
0.2391
0.8403
0.5870
0.0816
0.8869
0.5243
0.7063
0.4459
0.5640
0.1558
0.3893

0.0307
0.1899
0.4277
0.5099
0.9170
0.5357
0.0638
0.1856
0.2012
0.3808
0.7455
0.6689
0.1806
0.4511
0.0607
0.1864
0.2809
0.2348
0.5718
0.8169
0.1619
0.8066
0.0271
0.8559
0.2311
0.9341
0.0790
0.5024
0.1525
0.6625
0.6352
0.0839
0.6504
0.5853
0.6737
0.2148
0.1079
0.4755
0.1941
0.2609
0.0395
0.8411
1.0000
0.1729
0.9151

-1.08%
-0.50%
1.23%
0.71%
-1.22%
1.26%
0.12%
1.01%
-1.69%
0.82%
-0.69%
1.93%
-2.47%
0.17%
0.95%
0.34%
-1.48%
2.26%
-0.89%
0.48%
0.26%
0.00%
1.67%
1.10%
1.28%
0.52%
-1.19%
-1.18%
-0.65%
-0.40%
-0.16%
-0.59%
0.05%
0.01%
0.54%
-0.13%
2.26%
1.34%
-2.34%
-0.88%
0.57%
0.36%
0.07%
-0.18%
0.71%

4.81%
-0.53%
-2.81%
-3.95%
0.93%
-0.13%
-0.60%
-4.09%
-1.58%
-6.23%
0.66%
-7.11%
-6.60%
-0.37%
-2.83%
4.22%
-2.86%
-4.03%
-4.77%
-1.51%
3.08%
1.80%
-8.71%
2.03%
-3.06%
-3.28%
-7.33%
2.16%
5.47%
2.13%
-0.89%
-0.43%
-1.06%
5.29%
-4.13%
0.99%
-1.34%
-6.18%
1.63%
-1.82%
-0.37%
-2.41%
-1.52%
-5.04%
-2.84%

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

346
347
348
349
350
351
352
353
354
355
356
357
358
359
360
361
362
363
364
365
366
367
368
369
370
371
372
373
374
375
376
377
378
379
380
381
382
383
384
385
386
387
388
389
390

0.2947
0.9964
0.5308
0.8600
0.7728
0.0248
0.2404
0.0354
0.8917
0.8185
0.0056
0.3096
0.2473
0.3365
0.3360
0.3945
0.0822
0.3201
0.2338
0.3962
0.5651
0.1148
0.8761
0.2748
0.0042
0.9772
0.0912
0.5696
0.5816
0.9233
0.9540
0.1678
0.1855
0.8380
0.1178
0.7786
0.0152
0.8756
0.7084
0.9029
0.2981
0.1983
0.4104
0.9724
0.8909

0.2405
0.8325
0.3996
0.6991
0.0000
0.0795
0.8613
0.0257
0.7177
0.9375
0.3568
0.6008
0.7851
0.0409
0.7948
0.9759
0.5655
0.7470
0.3799
0.5072
0.2208
0.9986
0.8797
0.9529
0.8724
0.9344
0.0429
0.9733
0.9974
0.5655
0.6704
0.6020
0.0185
0.5812
0.9641
0.9788
0.6653
0.1965
0.0758
0.7780
0.1724
0.2332
0.3115
0.0202
0.0965

0.3643
0.4236
0.7113
0.1619
0.4675
0.4417
0.7247
0.9742
0.0794
0.3910
0.0579
0.1151
0.6696
0.5611
0.0673
0.4287
0.6215
0.2018
0.3220
0.9815
0.1088
0.5082
0.2276
0.9028
0.7820
0.8308
0.2859
0.4596
0.7788
0.2221
0.4317
0.4650
0.6345
0.8713
0.7306
0.6854
0.6142
0.5359
0.3132
0.5965
0.3334
0.0157
0.7806
0.7811
0.2568

-0.49%
2.74%
0.13%
1.13%
0.80%
-1.91%
-0.65%
-1.76%
1.29%
0.96%
-2.49%
-0.45%
-0.63%
-0.37%
-0.37%
-0.22%
-1.34%
-0.42%
-0.68%
-0.21%
0.21%
-1.15%
1.21%
-0.55%
-2.59%
2.05%
-1.28%
0.23%
0.26%
1.48%
1.73%
-0.91%
-0.84%
1.04%
-1.14%
0.82%
-2.11%
1.20%
0.60%
1.35%
-0.48%
-0.80%
-0.18%
1.97%
1.28%

-4.11%
0.89%
-2.76%
-0.43%
-16.86%
-6.23%
1.26%
-7.84%
-0.27%
2.60%
-3.10%
-1.23%
0.37%
-7.22%
0.47%
3.93%
-1.51%
0.00%
-2.92%
-1.95%
-4.31%
6.97%
1.52%
3.02%
1.41%
2.53%
-7.15%
3.80%
6.39%
-1.50%
-0.68%
-1.22%
-8.26%
-1.39%
3.40%
4.09%
-0.72%
-4.56%
-6.30%
0.30%
-4.83%
-4.18%
-3.47%
-8.15%
-5.91%

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

391
392
393
394
395
396
397
398
399
400
401
402
403
404
405
406
407
408
409
410
411
412
413
414
415
416
417
418
419
420
421
422
423
424
425
426
427
428
429
430
431
432
433
434
435

0.8051
0.0823
0.1627
0.7835
0.1728
0.6798
0.4196
0.6811
0.2721
0.6616
0.4991
0.0538
0.9491
0.0133
0.2826
0.4290
0.1996
0.8199
0.1630
0.0807
0.4716
0.7569
0.0203
0.1303
0.1777
0.7512
0.2964
0.0430
0.8883
0.8661
0.6382
0.0486
0.4038
0.1491
0.1003
0.1406
0.3078
0.1750
0.4519
0.3907
0.6683
0.3982
0.4148
0.9851
0.6944

0.3003
0.0960
0.2059
0.1357
0.0174
0.0027
0.3598
0.2902
0.3419
0.1211
0.8669
0.5771
0.6176
0.1005
0.6919
0.6171
0.5140
0.6587
0.0589
0.3171
0.6388
0.7467
0.9809
0.7367
0.5524
0.2406
0.6881
0.2578
0.9091
0.3004
0.1608
0.1353
0.5524
0.1128
0.3212
0.8946
0.9158
0.7974
0.2811
0.1190
0.9344
0.4765
0.8094
0.8117
0.1486

0.1368
0.3883
0.4025
0.8299
0.2846
0.3198
0.9326
0.2822
0.3187
0.2167
0.9935
0.7530
0.8780
0.8545
0.8074
0.0981
0.8220
0.4497
0.5068
0.7560
0.0820
0.3120
0.0104
0.6666
0.5254
0.6718
0.2809
0.9933
0.8007
0.0213
0.5907
0.1636
0.1323
0.6621
0.0205
0.1880
0.8854
0.8150
0.9248
0.8652
0.4532
0.7757
0.9255
0.7866
0.0220

0.91%
-1.34%
-0.93%
0.83%
-0.89%
0.52%
-0.15%
0.52%
-0.56%
0.47%
0.05%
-1.56%
1.69%
-2.17%
-0.53%
-0.13%
-0.79%
0.97%
-0.93%
-1.35%
-0.02%
0.75%
-2.00%
-1.07%
-0.87%
0.73%
-0.48%
-1.67%
1.27%
1.16%
0.40%
-1.61%
-0.19%
-0.99%
-1.23%
-1.03%
-0.45%
-0.88%
-0.07%
-0.23%
0.49%
-0.21%
-0.17%
2.22%
0.56%

-3.57%
-5.91%
-4.46%
-5.30%
-8.33%
-10.34%
-3.08%
-3.66%
-3.22%
-5.51%
1.34%
-1.42%
-1.10%
-5.84%
-0.50%
-1.11%
-1.89%
-0.77%
-6.69%
-3.43%
-0.93%
-0.01%
4.22%
-0.10%
-1.60%
-4.11%
-0.53%
-3.95%
2.01%
-3.57%
-4.97%
-5.31%
-1.60%
-5.63%
-3.39%
1.75%
2.13%
0.50%
-3.74%
-5.54%
2.53%
-2.18%
0.63%
0.65%
-5.13%

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

436
437
438
439
440
441
442
443
444
445
446
447
448
449
450
451
452
453
454
455
456
457
458
459
460
461
462
463
464
465
466
467
468
469
470
471
472
473
474
475
476
477
478
479
480

0.6910
0.3548
0.5356
0.6018
0.9559
0.2504
0.0322
0.3320
0.4834
0.2676
0.5309
0.3445
0.3968
0.2866
0.8024
0.1679
0.0555
0.3288
0.4345
0.1352
0.5009
0.3661
0.2040
0.1568
0.7449
0.1730
0.4982
0.6195
0.4304
0.1481
0.4629
0.7552
0.7601
0.1667
0.3156
0.7077
0.9940
0.5438
0.9286
0.6339
0.5781
0.7764
0.7709
0.9982
0.1898

0.0081
0.3594
0.0935
0.9102
0.9521
0.8007
0.6476
0.2647
0.2184
0.8422
0.5075
0.0427
0.7283
0.3004
0.5184
0.6144
0.1826
0.0957
0.5892
0.2014
0.5615
0.1680
0.8086
0.3293
0.0597
0.8808
0.1219
0.4038
0.9968
0.2483
0.2090
0.2139
0.1030
0.3297
0.9093
0.3113
0.5733
0.2093
0.7968
0.3458
0.9889
0.3328
0.7456
0.6152
0.8405

0.7926
0.4260
0.7047
0.2298
0.9759
0.8730
0.8988
0.8457
0.3163
0.6593
0.9601
0.4323
0.9579
0.2111
0.2716
0.5555
0.6384
0.3242
0.3982
0.3586
0.3558
0.6595
0.1769
0.6495
0.8034
0.0018
0.9944
0.6715
0.0387
0.8095
0.0336
0.3320
0.8583
0.5198
0.3218
0.1306
0.5689
0.8508
0.7634
0.1582
0.6443
0.7574
0.5222
0.7729
0.3459

0.55%
-0.32%
0.14%
0.31%
1.76%
-0.62%
-1.80%
-0.38%
0.01%
-0.57%
0.13%
-0.35%
-0.21%
-0.51%
0.90%
-0.91%
-1.54%
-0.39%
-0.11%
-1.05%
0.05%
-0.29%
-0.78%
-0.96%
0.71%
-0.89%
0.05%
0.35%
-0.13%
-0.99%
-0.04%
0.74%
0.76%
-0.92%
-0.43%
0.60%
2.56%
0.16%
1.52%
0.39%
0.25%
0.81%
0.79%
2.96%
-0.83%

-9.21%
-3.08%
-5.96%
2.03%
3.00%
0.53%
-0.86%
-3.89%
-4.33%
1.01%
-1.94%
-7.16%
-0.18%
-3.57%
-1.86%
-1.13%
-4.72%
-5.92%
-1.32%
-4.51%
-1.54%
-4.89%
0.62%
-3.33%
-6.67%
1.54%
-5.50%
-2.73%
6.18%
-4.04%
-4.43%
-4.38%
-5.79%
-3.32%
2.01%
-3.48%
-1.45%
-4.43%
0.49%
-3.19%
4.86%
-3.30%
-0.02%
-1.12%
0.99%

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

481
482
483
484
485
486
487
488
489
490
491
492
493
494
495
496
497
498
499
500
501
502
503
504
505
506
507
508
509
510
511
512

0.2660
0.1870
0.2976
0.4399
0.3326
0.4749
0.3353
0.9657
0.1416
0.5029
0.1144
0.2217
0.7463
0.5400
0.2764
0.5915
0.5368
0.3024
0.5498
0.5078
0.4860
0.0233
0.7205
0.1034
0.7976
0.2945
0.2880
0.2131
0.0790
0.4430
0.8934
0.0832

0.6555
0.4847
0.0628
0.5866
0.4324
0.4294
0.8261
0.7174
0.8910
0.0052
0.5108
0.3353
0.5780
0.8593
0.7650
0.8568
0.0320
0.5750
0.5919
0.0559
0.0232
0.9141
0.0614
0.3928
0.9781
0.7934
0.6480
0.9956
0.9433
0.6345
0.8727
0.8269

0.5429
0.0587
0.6185
0.3853
0.7609
0.0969
0.1570
0.5089
0.5972
0.6723
0.4531
0.8209
0.0971
0.1157
0.0812
0.5072
0.2066
0.9323
0.2338
0.6739
0.3111
0.3883
0.9548
0.4475
0.0006
0.5529
0.7096
0.2990
0.0981
0.8497
0.5897
0.0516

-0.58%
-0.84%
-0.48%
-0.10%
-0.38%
-0.01%
-0.38%
1.87%
-1.02%
0.06%
-1.15%
-0.72%
0.71%
0.15%
-0.54%
0.28%
0.14%
-0.47%
0.18%
0.07%
0.01%
-1.94%
0.63%
-1.21%
0.88%
-0.49%
-0.51%
-0.75%
-1.36%
-0.09%
1.29%
-1.33%

-0.80%
-2.12%
-6.60%
-1.34%
-2.51%
-2.53%
0.82%
-0.27%
1.70%
-9.69%
-1.92%
-3.28%
-1.41%
1.23%
0.17%
1.20%
-7.56%
-1.43%
-1.30%
-6.77%
-7.98%
2.10%
-6.63%
-2.82%
4.05%
0.46%
-0.86%
5.85%
2.75%
-0.97%
1.42%
0.83%

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
0
0
0
0
0

-0.20%
-0.20%

r
-0.27%
-0.30%
0.42%
0.98%
-0.93%
0.63%
-2.16%
-0.97%
-0.63%
0.99%
0.07%
-0.33%
1.40%
-1.26%
0.63%
1.38%
-1.01%
1.87%
-0.19%
-0.76%
1.22%
1.45%
0.82%
-0.57%
1.13%
-0.49%
-0.46%
0.59%
1.62%
-0.40%

Output Monte Carlo

mean
std dev
min
max

More Complicated Monte Carlo

-0.20%
0.00%
-0.20%
-0.20%

In this simulation we have set up a very s

random log returns (column I). In cell I7, w
period.

DataTable
Trial
Total Return
-0.20%
1
-0.20%
2
-0.20%
3
-0.20%
4
-0.20%
5
-0.20%
6
-0.20%
7
-0.20%
8
-0.20%
9
-0.20%
10
-0.20%
11
-0.20%
12
-0.20%
13
-0.20%
14
-0.20%
15
-0.20%
16
-0.20%
17
-0.20%
18
-0.20%
19
-0.20%
20
-0.20%
21
-0.20%
22
-0.20%
23
-0.20%
24
-0.20%
25
-0.20%
26
-0.20%
27
-0.20%
28
-0.20%
29
-0.20%
30
-0.20%

As before we could have done all of this w

entire model and pasted it 100 times), bu
would have been very difficult to do (it wo
see what was going on, and it could be ve

The DataTable then runs this simulation 1

deviation, mean and max for these 100 tr

A note of caution: DataTables can be slow

large (lots of trials), you might find Excel
small and/or changing calculation options

0.52%
0.07%
1.10%
-0.29%
0.25%
-0.37%
0.19%
-0.65%
0.08%
0.67%
-1.52%
-0.20%
-0.09%
-0.38%
0.27%
-0.63%
0.10%
0.64%
-0.31%
1.09%
-0.40%
0.51%
0.28%
0.03%
0.58%
0.63%
-0.68%
-0.90%
0.62%
-0.06%
-1.19%
-0.94%
-0.15%
0.48%
0.42%
-0.02%
-0.30%
1.18%
0.63%
-1.15%
-2.77%
1.87%
-1.13%
-1.23%
1.06%

31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75

-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%

-0.38%
0.76%
-0.43%
1.65%
0.37%
-1.54%
0.91%
-0.20%
-0.10%
-0.09%
-0.97%
-0.23%
-1.62%
0.90%
0.53%
-0.19%
0.65%
1.66%
0.34%
0.41%
-1.27%
1.31%
0.05%
-0.12%
0.03%
-0.33%
-1.27%
-0.70%
-0.25%
1.77%
-1.07%
0.89%
0.40%
0.09%
-0.55%
1.85%
0.24%
1.51%
-0.30%
0.75%
-0.01%
0.38%
0.25%
0.33%
-0.99%

76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100

-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%
-0.20%

0.49%
0.98%
-0.69%
-0.11%
0.92%
1.42%
0.47%
0.54%
1.49%
1.26%
-0.63%
-1.42%
-0.36%
1.57%
0.55%
-0.57%
0.92%
0.30%
1.39%
1.37%
0.65%
0.10%
1.92%
0.42%
-0.18%
-0.46%
-0.25%
-0.02%
1.84%
0.51%
-1.45%
0.03%
-0.05%
-0.06%
0.89%
-0.02%
0.73%
-1.52%
1.18%
0.51%
1.17%
-0.03%
0.64%
-0.61%
0.87%

0.26%
0.78%
-1.13%
0.65%
-1.04%
-0.13%
-2.59%
-1.33%
0.03%
-0.59%
-0.99%
1.13%
-0.35%
0.72%
0.17%
-2.19%
0.93%
1.30%
0.24%
-0.23%
-0.11%
-1.32%
-1.09%
0.32%
-0.85%
0.00%
-4.07%
-0.90%
-1.15%
-1.38%
-1.02%
-2.03%
0.26%
-1.11%
0.36%
-1.62%
-0.12%
-1.03%
-1.05%
-0.59%
1.24%
0.03%
0.20%
-0.02%
1.20%

1.02%
0.77%
-0.22%
0.40%
-1.75%
0.56%
-0.52%
-1.04%
-0.76%
0.71%
-0.30%
0.18%
-0.22%
-1.31%
0.07%
1.09%
-0.70%
0.76%
1.13%
-0.47%
0.58%
-0.73%
0.78%
0.61%
0.50%
0.21%
-1.53%
1.69%
-0.36%
2.91%
0.36%
-0.84%
-0.07%
0.68%
-0.59%
0.04%
0.28%
-0.37%
0.29%
-0.45%
-1.37%
-1.13%
0.73%
-0.56%
-0.21%

0.39%
0.57%
-1.57%
1.21%
-0.97%
-0.31%
-0.48%
-1.06%
0.33%
-1.44%
1.14%
-0.46%
0.34%
-1.04%
-1.52%
-1.01%
0.72%
0.85%
2.16%
0.57%
-0.11%
1.14%
-1.42%
0.46%
1.71%
0.02%
-1.67%
0.34%
-0.11%
1.93%
0.52%
1.06%
-0.93%
-1.01%
0.98%
-0.18%
0.30%
1.18%
-0.05%
-0.52%
0.86%
1.71%
-0.21%
-0.17%
-0.20%

-1.08%
-0.50%
1.23%
0.71%
-1.22%
1.26%
0.12%
1.01%
-1.69%
0.82%
-0.69%
1.93%
-2.47%
0.17%
0.95%
0.34%
-1.48%
2.26%
-0.89%
0.48%
0.26%
0.00%
1.67%
1.10%
1.28%
0.52%
-1.19%
-1.18%
-0.65%
-0.40%
-0.16%
-0.59%
0.05%
0.01%
0.54%
-0.13%
2.26%
1.34%
-2.34%
-0.88%
0.57%
0.36%
0.07%
-0.18%
0.71%

-0.49%
2.74%
0.13%
1.13%
0.80%
-1.91%
-0.65%
-1.76%
1.29%
0.96%
-2.49%
-0.45%
-0.63%
-0.37%
-0.37%
-0.22%
-1.34%
-0.42%
-0.68%
-0.21%
0.21%
-1.15%
1.21%
-0.55%
-2.59%
2.05%
-1.28%
0.23%
0.26%
1.48%
1.73%
-0.91%
-0.84%
1.04%
-1.14%
0.82%
-2.11%
1.20%
0.60%
1.35%
-0.48%
-0.80%
-0.18%
1.97%
1.28%

0.91%
-1.34%
-0.93%
0.83%
-0.89%
0.52%
-0.15%
0.52%
-0.56%
0.47%
0.05%
-1.56%
1.69%
-2.17%
-0.53%
-0.13%
-0.79%
0.97%
-0.93%
-1.35%
-0.02%
0.75%
-2.00%
-1.07%
-0.87%
0.73%
-0.48%
-1.67%
1.27%
1.16%
0.40%
-1.61%
-0.19%
-0.99%
-1.23%
-1.03%
-0.45%
-0.88%
-0.07%
-0.23%
0.49%
-0.21%
-0.17%
2.22%
0.56%

0.55%
-0.32%
0.14%
0.31%
1.76%
-0.62%
-1.80%
-0.38%
0.01%
-0.57%
0.13%
-0.35%
-0.21%
-0.51%
0.90%
-0.91%
-1.54%
-0.39%
-0.11%
-1.05%
0.05%
-0.29%
-0.78%
-0.96%
0.71%
0.65%
0.05%
0.35%
-0.13%
-0.99%
-0.04%
0.74%
0.76%
-0.92%
-0.43%
0.60%
2.56%
0.16%
1.52%
0.39%
0.25%
0.81%
0.79%
2.96%
-0.83%

-0.58%
-0.84%
-0.48%
-0.10%
-0.38%
-0.01%
-0.38%
1.87%
-1.02%
0.06%
-1.15%
-0.72%
0.71%
0.15%
-0.54%
0.28%
0.14%
-0.47%
0.18%
0.07%
0.01%
-1.94%
0.63%
-1.21%
4.93%
-0.49%
-0.51%
-0.75%
-1.36%
-0.09%
1.29%
-1.33%

ed Monte Carlo

we have set up a very simple jump-diffusion model. The model generates 512
ns (column I). In cell I7, we have calculated the total return over the entire

en runs this simulation 100 times. We have calculated the mean, standard
nd max for these 100 trials.

d have done all of this without the aid of a DataTable (we could have copied the
pasted it 100 times), but even with this moderately complicated model this
very difficult to do (it wouldn't be too hard to set up, but it would be difficult to
ng on, and it could be very difficult to make changes to the model).

DataTables can be slow. If you model is very complicated or the DataTable is

s), you might find Excel locking up. This can be resolved by keeping DataTables
ging calculation options to manual.

DataTable dummy