Tutorial Question 1

Required:
(i) Compute the average monthly return and the standard deviation of monthly returns for each data item.
(ii) Compute 3 possible correlations— corr(SEE,S&P), corr (SEE,DAX) and corr (S&P,DAX) respectively.
(iii) Choose two stocks that have the lowest correlation. Find the expected return and standard deviation of
returns for various portfolios formed between your two stocks.
(iv)Graph your portfolio expected return against standard deviation. Identify the efficient portfolio set.
(v) Using the minimum variance portfolio equation find the minimum variance portfolio.

Name SH Comp S&P500-US Dax-Germany

Code SEE S&P500 Dax
1/3/2006 5674.15 1280.08 1258.05
2/1/2006 5796.04 1280.66 1299.03
3/1/2006 5970.08 1294.87 1298.3
4/3/2006 6009.89 1310.61 1440.22
5/2/2006 5692.86 1270.09 1641.3
6/1/2006 5683.31 1270.2 1672.21
7/3/2006 5681.97 1276.66 1612.73
8/1/2006 5859.57 1303.82 1658.64
9/1/2006 6004.33 1335.85 1752.42
10/2/2006 6268.92 1377.94 1837.99
11/1/2006 6309.19 1400.63 2099.29
12/1/2006 6596.92 1418.3 2675.47
1/2/2007 6789.11 1438.24 2786.33
2/1/2007 6715.44 1406.82 2881.07
 3/1/2007 6917.03 1420.86 3183.98
4/2/2007 7408.87 1482.37 3841.27
5/1/2007 7883.04 1530.62 4109.65
6/1/2007 8007.32 1503.35 3820.7
7/2/2007 7584.14 1455.27 4471.03
8/1/2007 7638.17 1473.99 5218.83
9/3/2007 7861.51 1526.75 5552.3
10/1/2007 8019.22 1549.38 5954.77
11/1/2007 7870.52 1481.14 4871.78
12/3/2007 7994.07 1504.66 5035.07

Tutorial Question 2
Allied Industry's bonds have 15-year remaining to maturity. Interest is paid annually, the bonds have a $1,000 par
value, the coupon interest rate is 10%. The required rate of return on these bonds is 9%.
(i) What is the current market price of these bonds?
(ii) What will be the market price one year later?
(iii) What would be the current market price of these bonds if the required rate of return is 10% on these bonds?

PV
time 0 1 2 3 4 5 6 7 8 9 10 11
100 100 100 100 100 100 100 100 100 100 100

Tutorial Question 3
The returns for the past five years on Douglas stock and the New York Stock Exchange Composite Index (NYSE) are
listed below.
1. Fill in these missing gaps and compute the beta of Douglas stock.
2. Assume that NYSE’s return increases to 9%, the risk-free rate is 4%, what is Douglas’s required rate of return?
 Tutorial Question 3
The returns for the past five years on Douglas stock and the New York Stock Exchange Composite Index (NYSE) are
listed below.
1. Fill in these missing gaps and compute the beta of Douglas stock.
2. Assume that NYSE’s return increases to 9%, the risk-free rate is 4%, what is Douglas’s required rate of return?
Show your computations.

Douglas NYSE [RD-E(RD)[RN-E(RN)] [RN-E(RN)]2

-0.05 -0.12
0.05 0.01
0.08 0.06
0.15 0.1
0.1 0.05
sum=
Avg=
— β= —

E(RDouglas)=
=
=

Tutorial Question 4
With the data-file find the following:
(i) The daily percentage changes for each data item.
(ii) The mean daily return for each data item.
(iii) The standard deviation and variance of daily returns for each data item.
(iv) Draw “scatter” diagrams of market returns against each of your stock’s returns.
(v) Use Excel to find the lines of best fit for these scatter diagram. What does they mean?
a. Which stock has higher firm-specific risk?
 With the data-file find the following:
(i) The daily percentage changes for each data item.
(ii) The mean daily return for each data item.
(iii) The standard deviation and variance of daily returns for each data item.
(iv) Draw “scatter” diagrams of market returns against each of your stock’s returns.
(v) Use Excel to find the lines of best fit for these scatter diagram. What does they mean?
a. Which stock has higher firm-specific risk?
b. Which stock has greater systematic (market) risk?
c. Which stock has higher correlation with the market?
d.Which stock has higher alpha?

BRITISH LLOYDS FTSE 100 - PRICE

TELECOM. BANKING GRP INDEX
BT LLOY.L FTSE100
10/2/2006 50.44 540 5957.8
10/3/2006 51.23 542 5937.1
10/4/2006 51.45 547.5 5966.5
10/5/2006 50.83 552.5 6004.5
10/6/2006 50.29 556 6001.2
10/9/2006 49.63 556 6030.9
10/10/2006 49.09 552.5 6072.7
10/11/2006 49.61 554.5 6073.5
10/12/2006 49.76 559 6121.3
10/13/2006 50.24 581 6157.3
10/16/2006 50.48 579 6172.4
10/17/2006 50.42 564.5 6108.6
10/18/2006 50.05 569 6150.4
10/19/2006 49.99 568.5 6156
10/20/2006 50.41 562.5 6155.2
10/23/2006 50.62 564 6166.1
10/24/2006 51.1 563 6182.5
10/25/2006 52 564 6214.6
10/26/2006 53.16 563 6184.8
10/27/2006 53.55 561 6160.9
10/30/2006 53.45 559.5 6126.8
10/31/2006 53.52 559.5 6129.2
11/1/2006 53.24 560.5 6149.6
11/2/2006 53.92 559 6149.3
11/3/2006 53.55 558 6148.1
11/6/2006 54.67 561 6224.5
11/7/2006 55.44 561.5 6244
11/8/2006 56.2 560 6239
11/9/2006 54.48 555.5 6231.5
11/10/2006 53.7 555.5 6208.4
11/13/2006 53.69 561 6194.2
11/14/2006 53.25 561.5 6186.6
11/15/2006 53.55 564.5 6229.8
11/16/2006 53.72 567 6254.9
11/17/2006 53.98 568 6192
11/20/2006 53.27 565.5 6204.5
11/21/2006 54.17 567 6202.6
11/22/2006 54.08 564 6160.3
11/23/2006 54.08 561.5 6140
11/24/2006 54.2 554.5 6122.1
11/27/2006 53.7 551 6050.1
11/28/2006 54.25 546.5 6025.9
11/29/2006 54.69 546 6084.4
11/30/2006 56.12 540.5 6048.8
12/1/2006 57.46 539.5 6021.5
12/4/2006 57.9 543 6050.4
12/5/2006 58.04 539.5 6086.4
12/6/2006 57.59 543.5 6090.3
 12/7/2006 57.56 550.5 6131.5
12/8/2006 57.46 555.5 6152.4
12/11/2006 57.45 558.5 6159.8
12/12/2006 58.77 558 6156.4
12/13/2006 59.77 556.5 6192.5
12/14/2006 60.36 561.5 6228
12/15/2006 61.35 565 6260
12/18/2006 60.89 564 6247.4
12/19/2006 60.7 557.5 6203.9
12/20/2006 62.25 560 6198.6
12/21/2006 61.85 565.5 6183.7
12/22/2006 60.91 568.5 6190
12/26/2006 61.34 568.5 6190
12/27/2006 61.63 568.5 6245.2
12/28/2006 60.93 572.5 6240.9
12/29/2006 59.89 574 6220.8
1/1/2007 59.89 571.5 6220.8
1/2/2007 59.89 571.5 6310.9
1/3/2007 61.68 577.5 6319
1/4/2007 62.52 585 6287
1/5/2007 61.85 580.5 6220.1
1/8/2007 62.01 577.5 6194.2
1/9/2007 62.7 575.5 6196.1
1/10/2007 61.91 581 6160.7
1/11/2007 62.23 577.5 6230.1
1/12/2007 62.44 583 6239
1/15/2007 62.44 593 6263.5
1/16/2007 61.98 597.5 6215.7
1/17/2007 62.11 590 6204.5
1/18/2007 61.49 584 6210.3
1/19/2007 61.8 579.5 6237.2
1/22/2007 61.62 582 6218.4
1/23/2007 61.79 581 6227.6
1/24/2007 61.84 580.5 6314.8
1/25/2007 61.08 588 6269.3
1/26/2007 60.39 585 6228
1/29/2007 60.37 583.5 6239.9
1/30/2007 60.58 587.5 6242
1/31/2007 61.04 584.5 6203.1
2/1/2007 61.07 581.5 6282.2
2/2/2007 61.06 585.5 6310.9
2/5/2007 62.47 590 6317.9
2/6/2007 62.96 590.5 6346.3
2/7/2007 62.6 598.5 6369.5
2/8/2007 62.79 598.5 6346.4
2/9/2007 62.55 600 6382.8
2/12/2007 62.15 606 6353.5
2/13/2007 61.87 602.5 6381.8
2/14/2007 62.23 602.5 6421.2
2/15/2007 62.3 607 6433.3
2/16/2007 61.98 607.5 6419.5
2/19/2007 61.98 605.5 6444.4
2/20/2007 61.41 606.5 6412.3
2/21/2007 60.63 614 6357.1
2/22/2007 59.95 613 6380.9
2/23/2007 60.51 613 6401.5
2/26/2007 60.36 592 6434.7
2/27/2007 57.46 591.5 6286.1
2/28/2007 58.08 585 6171.5
3/1/2007 57.11 574 6116
3/2/2007 56.62 567 6116.2
3/5/2007 55.37 565 6058.7
3/6/2007 57.04 562.5 6138.5
3/7/2007 57.25 563.5 6156.5
 3/8/2007 58.09 539 6227.7
3/9/2007 58.2 552 6245.2
3/12/2007 58.09 552.5 6233.3
3/13/2007 56.81 548.5 6161.2
3/14/2007 57.14 540 6000.7
3/15/2007 57.73 532 6133.2
3/16/2007 58.13 533.5 6130.6
3/19/2007 59.05 534 6189.4
3/20/2007 59.55 548 6220.3
3/21/2007 61.39 553.5 6256.8
3/22/2007 60.63 559 6318
3/23/2007 60.4 565.5 6339.4
3/26/2007 60.3 573.5 6291.9
3/27/2007 60.33 562.5 6292.6
3/28/2007 59.68 563.5 6267.2
3/29/2007 59.74 556.5 6324.2
3/30/2007 60.01 560.5 6308
4/2/2007 61.6 560 6315.5
4/3/2007 61.85 567 6366.1
4/4/2007 61.7 567 6364.7
4/5/2007 61.46 564 6397.3
4/9/2007 61.12 569 6397.3
4/10/2007 61.92 569 6417.8
4/11/2007 61.9 569 6413.3
4/12/2007 61.52 571.5 6416.4
4/13/2007 61.71 570 6462.4
4/16/2007 62.56 570.5 6516.2
4/17/2007 63.2 574.5 6497.8
4/18/2007 61.98 586 6449.4
4/19/2007 62.51 585 6440.6
4/20/2007 63.07 582 6486.8
4/23/2007 62.51 577.5 6479.7
4/24/2007 62.48 583 6429.5
4/25/2007 63.76 584 6461.9
4/26/2007 63.75 578 6469.4
4/27/2007 62.93 580.5 6418.7
4/30/2007 62.95 582 6449.2
5/1/2007 63.32 579 6419.6
5/2/2007 63.25 581 6484.5
5/3/2007 62.71 573 6537.8
5/4/2007 63.28 582 6603.7
5/7/2007 63.66 585.5 6603.7
5/8/2007 63.71 587 6550.4
5/9/2007 63.62 587 6549.6
5/10/2007 62.44 582 6524.1
5/11/2007 63.26 581 6565.7
5/14/2007 63.48 581.5 6555.5
5/15/2007 63.28 586.5 6568.6
5/16/2007 62.68 583.5 6559.5
5/17/2007 60.61 584 6579.3
5/18/2007 61.46 580.5 6640.9
5/21/2007 60.58 581 6636.8
5/22/2007 62.67 584 6606.6
5/23/2007 64.63 583 6616.4
5/24/2007 64.49 581 6565.4
5/25/2007 64.37 583 6570.5
5/29/2007 65.24 576 6606.5
5/30/2007 65.6 576 6602.1
5/31/2007 65.35 576 6621.4
6/1/2007 65.6 576 6676.7
6/4/2007 65.35 576.5 6664.1
6/5/2007 64.76 575 6632.8
6/6/2007 63.71 575 6522.7
6/7/2007 62.44 575.5 6505.1
 6/8/2007 63.9 579 6505.1
6/11/2007 63.85 570.5 6567.5
6/12/2007 63.45 569 6520.4
6/13/2007 64.47 567.5 6559.6
6/14/2007 64.94 572 6649.9
6/15/2007 65.04 566 6732.4
6/18/2007 64.8 567.5 6703.5
6/19/2007 64.85 574.5 6650.2
6/20/2007 63.84 579 6649.3
6/21/2007 63.62 578 6596
6/22/2007 63.13 574.5 6567.4
6/25/2007 62.64 576.5 6588.4
6/26/2007 64.08 573 6559.3
6/27/2007 66.16 568.5 6527.6
6/28/2007 66.09 567 6571.3
6/29/2007 66.58 560 6607.9
7/2/2007 66.97 551.5 6590.6
7/3/2007 67 553.5 6639.8
7/4/2007 67 556 6673.1
7/5/2007 66.41 550 6635.2
7/6/2007 66.67 554 6690.1
7/9/2007 67.41 553.5 6712.7
7/10/2007 65.36 560 6630.9
7/11/2007 66.1 562 6615.1
7/12/2007 67.4 565.5 6697.7
7/13/2007 67.08 557.5 6716.7
7/16/2007 68.2 553.5 6697.7
7/17/2007 68.55 560 6659.1
7/18/2007 68.22 566.5 6567.1
7/19/2007 67.8 569 6640.2
7/20/2007 67.41 572 6585.2
7/23/2007 67.56 567 6624.4
7/24/2007 65.87 569.5 6498.7
7/25/2007 67.6 563.5 6454.3
7/26/2007 63.42 568 6251.2
7/27/2007 63.1 560.5 6215.2
7/30/2007 63.72 554.5 6206.1
7/31/2007 63.58 538.5 6360.1
8/1/2007 63.59 537 6250.6
8/2/2007 64.94 534.5 6300.3
8/3/2007 63.85 558 6224.3
8/6/2007 64.35 553 6189.1
8/7/2007 64.74 562 6308.8
8/8/2007 64.89 553.5 6393.9
8/9/2007 61.75 554.5 6271.2
8/10/2007 59.92 570 6038.3
8/13/2007 61.4 565 6219
8/14/2007 61.72 554 6143.5
8/15/2007 60.95 530 6109.3
8/16/2007 59.93 545.5 5858.9
8/17/2007 61.32 538.5 6064.2
8/20/2007 61.25 538.5 6078.7
8/21/2007 61.94 521 6086.1
8/22/2007 60.8 544 6196
8/23/2007 61.36 543.5 6196.9
8/24/2007 62.63 544 6220.1
8/27/2007 62.54 552 6220.1
8/28/2007 60.85 553.5 6102.2
8/29/2007 63.09 550.5 6132.2
8/30/2007 62.68 550.5 6212
8/31/2007 63.76 534 6303.3
9/3/2007 63.76 534 6315.2
9/4/2007 63.61 537.5 6376.8
9/5/2007 62.02 545 6270.7
 9/6/2007 62.55 547.5 6313.3
9/7/2007 61.09 548.5 6191.2
9/10/2007 60.6 535 6134.1
9/11/2007 62.27 533.5 6280.7
9/12/2007 62.8 524 6306.2
9/13/2007 64.72 520.5 6363.9
9/14/2007 63.61 532 6289.3
9/17/2007 63.15 530.5 6182.8
9/18/2007 64.1 534.5 6283.3
9/19/2007 62.75 520 6460
9/20/2007 61.94 513 6429
9/21/2007 62.21 519.5 6456.7
9/24/2007 61.91 540.5 6465.9
9/25/2007 62.26 532 6396.9
9/26/2007 61.61 536 6433
9/27/2007 62.06 534 6486.4
9/28/2007 62.83 531.5 6466.8
10/1/2007 63.91 536 6506.2
10/2/2007 62.7 542.5 6500.4
10/3/2007 61.85 542.5 6535.2
10/4/2007 61.72 543 6547.9
10/5/2007 61.98 556 6595.8
10/8/2007 61.69 565 6540.9
10/9/2007 62.57 571.5 6615.4
10/10/2007 61.88 571 6633
10/11/2007 63.83 567.5 6724.5
10/12/2007 64.02 571 6730.7
10/15/2007 63.48 563.5 6644.5
10/16/2007 62.4 562 6614.3
10/17/2007 63.95 557 6677.7
10/18/2007 63.45 547.5 6609.4
10/19/2007 62.74 536.5 6527.9
10/22/2007 62.57 547.5 6459.3
10/23/2007 63.65 543.5 6514
10/24/2007 63.84 536.5 6482
10/25/2007 65.78 530 6576.3
10/26/2007 67.47 531 6661.3
10/29/2007 67.52 527.5 6706
10/30/2007 66.91 529.5 6659
10/31/2007 68.09 534 6721.6
11/1/2007 66.11 536 6586.1
11/2/2007 67.01 536 6530.6
11/5/2007 66.83 545.5 6461.4
11/6/2007 67.1 531 6474.9
11/7/2007 65.63 517.5 6385.1
11/8/2007 63.55 508 6381.9
11/9/2007 60.4 510 6304.9
11/12/2007 59.04 502 6337.9
11/13/2007 60.69 483.5 6362.4
11/14/2007 58.95 474.5 6432.1
11/15/2007 58.01 487.5 6359.6
11/16/2007 58.33 497.5 6291.2
11/19/2007 57.69 499.5 6120.8
11/20/2007 58.23 491.75 6226.5
11/21/2007 56.72 481.25 6070.9
11/22/2007 56.72 466.75 6155.3
11/23/2007 60.14 472 6262.1
11/26/2007 58.24 451.25 6180.5
11/27/2007 58.67 457 6140.7
11/28/2007 59.8 470.25 6306.2
11/29/2007 58.74 455.5 6349.1
11/30/2007 58.87 454 6432.5
12/3/2007 59.47 473 6386.6
12/4/2007 59.06 474 6315.2
 12/5/2007 60.13 495 6493.8
12/6/2007 59.6 490.75 6485.6
12/7/2007 59.27 474.25 6554.9
12/10/2007 59.37 485.5 6565.4
12/11/2007 58.09 487.5 6536.9
12/12/2007 59.23 488 6559.8
12/13/2007 58.58 504.5 6364.2
12/14/2007 57.1 498.75 6397
12/17/2007 55.7 498.75 6277.8
12/18/2007 55.92 471.75 6279.3
12/19/2007 55.56 476.5 6284.5
12/20/2007 55.18 464 6345.6
12/21/2007 55.46 465 6434.1
12/24/2007 55.25 462.25 6479.3
12/25/2007 55.25 461.25 6479.3
12/26/2007 54.5 470 6479.3
12/27/2007 55.22 475.25 6497.8
12/28/2007 54.06 475.25 6476.9
12/31/2007 53.92 475.25 6456.9
1/2/2008 53.16 475.75 6416.7
1/3/2008 52.93 475.25 6479.4
1/4/2008 51.8 472 6348.5
1/7/2008 52.07 472 6335.7
1/8/2008 53.81 469 6356.5
1/9/2008 53.57 471.5 6272.7
1/10/2008 54.52 455 6222.7
1/11/2008 54.55 452 6202
1/14/2008 53.71 443.5 6215.7
1/15/2008 53.38 433.5 6025.6
1/16/2008 53.36 430.5 5942.9
1/17/2008 53.48 430.25 5902.4
1/18/2008 53.81 425 5901.7
1/21/2008 53.81 406 5578.2
1/22/2008 49.59 394.25 5740.1
1/23/2008 49.35 405.5 5609.3
1/24/2008 50.32 401.25 5875.8
1/25/2008 50.15 373.5 5869
1/28/2008 50.93 408 5788.9
1/29/2008 51.24 410 5885.2
1/30/2008 51.15 443.75 5837.3
1/31/2008 51.85 429.25 5879.8
2/1/2008 52.4 422 6029.2
2/4/2008 51.58 439.5 6026.2
2/5/2008 49.92 438 5868
2/6/2008 50.68 437.5 5875.4
2/7/2008 46.25 441.75 5724.1
2/8/2008 45.02 447.5 5784
2/11/2008 45.1 432.5 5707.7
2/12/2008 44.98 425 5910
2/13/2008 44.66 416 5880.1
2/14/2008 45.35 416.5 5879.3
2/15/2008 46.21 404.25 5787.6
2/19/2008 44.76 421.5 5966.9
2/20/2008 44.7 416 5893.6
2/21/2008 45.1 410.5 5932.2
2/22/2008 45.52 395.75 5888.5
2/25/2008 47.02 424.5 5999.5
2/26/2008 47.43 432 6087.4
2/27/2008 46.45 428 6076.5
2/28/2008 45.59 436.75 5965.7
2/29/2008 45.27 457.5 5884.3
3/3/2008 44.42 466.5 5818.6
3/4/2008 43.58 482.25 5767.7
3/5/2008 44.02 476.25 5853.5
 3/6/2008 43.24 463.5 5766.4
3/7/2008 43.47 453.5 5699.9
3/10/2008 42.57 444.5 5629.1
3/11/2008 42.84 440.25 5690.4
3/12/2008 43.34 428.25 5776.4
3/13/2008 43.52 413.75 5692.4
3/14/2008 42.7 424 5631.7
3/17/2008 41.39 421 5414.4
3/18/2008 43.18 433.25 5605.8
3/19/2008 40.46 444 5545.6
3/20/2008 42.05 430 5495.2
3/24/2008 42.55 421.25 5495.2
3/25/2008 43.82 398 5689.1
3/26/2008 42.53 416.5 5660.4
3/27/2008 42.84 427.25 5717.5
3/28/2008 42.49 434 5692.9
3/31/2008 43.1 434 5702.1
4/1/2008 44.56 434 5852.6
4/2/2008 45.5 461.5 5915.9
4/3/2008 45.32 461.75 5891.3
4/4/2008 45.81 459.5 5947.1
4/7/2008 45.51 451.25 6014.8
4/8/2008 45.9 451 5990.2
4/9/2008 45.6 480.25 5983.9
4/10/2008 44.74 483.25 5965.1
4/11/2008 44 462.75 5895.5
4/14/2008 43.67 457.5 5831.6
4/15/2008 42.61 461.5 5906.9
4/16/2008 43.69 457 6046.2
4/17/2008 42.97 454.25 5980.4
4/18/2008 43.82 446.25 6056.5
4/21/2008 43.25 433 6053
4/22/2008 42.23 421 6034.7
4/23/2008 42.52 427 6083.6
4/24/2008 42.95 441.75 6050.7
4/25/2008 43.91 442.75 6091.4
4/28/2008 43.55 453.25 6090.4
4/29/2008 42.86 442.5 6089.4
4/30/2008 44.14 439.75 6087.3
5/1/2008 44.16 430.5 6087.3
5/2/2008 44.28 436 6215.5
5/6/2008 43.9 442.25 6215.2
5/7/2008 43.65 447.25 6261
5/8/2008 44.09 438.75 6270.8
5/9/2008 43.36 432.5 6204.7
5/12/2008 44.04 430.75 6220.6
5/13/2008 43.67 452.5 6211.9
5/14/2008 43.69 439 6216
5/15/2008 46.2 449.5 6251.8
5/16/2008 46.08 443.75 6304.3
5/19/2008 45.75 433 6376.5
5/20/2008 45.43 424.75 6191.6
5/21/2008 44.04 418 6198.1
5/22/2008 45.32 410.5 6181.6
5/23/2008 44.98 409 6087.3
5/27/2008 44.48 411 6058.5
5/28/2008 44.59 408.25 6069.6
5/29/2008 43.67 402.75 6068.1
5/30/2008 44.01 394.75 6053.5
6/2/2008 43.27 391.25 6007.6
6/3/2008 43.44 395 6057.7
6/4/2008 43.75 393.5 5970.1
6/5/2008 44.4 384.75 5995.3
6/6/2008 42.83 377 5906.8
 6/9/2008 42.18 384 5877.6
6/10/2008 41.71 377.25 5827.3
6/11/2008 41.5 388.75 5723.3
6/12/2008 40.79 390.25 5790.5
6/13/2008 42.24 385.5 5802.8
6/16/2008 41.81 368.25 5794.6
6/17/2008 41.9 351.5 5861.9
6/18/2008 41.37 332.75 5756.9
6/19/2008 41.38 353.5 5708.4
6/20/2008 39.92 356 5620.8
6/23/2008 40.18 348 5667.2
6/24/2008 40.2 356.25 5634.7
6/25/2008 40.58 341.25 5666.1
6/26/2008 39.8 332 5518.2
6/27/2008 39.47 327.5 5529.9
6/30/2008 39.73 318.75 5625.9
7/1/2008 40.45 325.75 5479.9
7/2/2008 40.89 328.5 5426.3
7/3/2008 41.84 306.75 5476.6
7/4/2008 41.84 317 5412.8
7/7/2008 41.34 310.75 5512.7
7/8/2008 42.6 301 5440.5
7/9/2008 42.28 295.5 5529.6
7/10/2008 41.68 306 5406.8
7/11/2008 40.46 299.25 5261.6
7/14/2008 40.25 295.5 5300.4
7/15/2008 38.54 285.75 5171.9
7/16/2008 39.65 304.75 5150.6
7/17/2008 39.45 292.5 5286.3
7/18/2008 40.83 275.5 5376.4
7/21/2008 41.09 282.25 5404.3
7/22/2008 39.26 273 5364.1
7/23/2008 40.6 284 5449.9
7/24/2008 40.08 300.5 5362.3
7/25/2008 39.68 331 5352.6
7/28/2008 39.12 325.75 5312.6
7/29/2008 39.5 320 5319.2
7/30/2008 39.24 346.5 5420.7
7/31/2008 33.12 338 5411.9
8/1/2008 33.84 331.25 5354.7
8/4/2008 33.81 318.25 5320.2
8/5/2008 34.29 321 5454.5
8/6/2008 34.39 306 5486.1
8/7/2008 34.06 295.25 5477.5
8/8/2008 34.67 300 5489.2
8/11/2008 34.67 293.25 5541.8
8/12/2008 34.72 324.5 5534.5
8/13/2008 33.99 314.25 5448.6
8/14/2008 33.29 318.75 5497.4
8/15/2008 33.14 318 5454.8
8/18/2008 33.38 330.75 5450.2
8/19/2008 33.09 329 5320.4
8/20/2008 30.71 308.5 5371.8
8/21/2008 30.54 306.25 5370.2
8/22/2008 30.94 312 5505.6
8/26/2008 30.47 306 5470.7
8/27/2008 30.09 288.25 5528.1
8/28/2008 30.5 290.25 5601.2
8/29/2008 31.64 280 5636.6
9/1/2008 31.3 299.5 5602.8
9/2/2008 30.64 292 5620.7
9/3/2008 30.74 295.5 5499.7
9/4/2008 30.37 305.5 5362.1
9/5/2008 30.28 303.75 5240.7
 9/8/2008 30.78 307.5 5446.3
9/9/2008 30.85 311 5415.6
9/10/2008 30.85 303.5 5366.2
9/11/2008 30.68 286.25 5318.4
9/12/2008 31.81 279 5416.7
9/15/2008 30.93 310 5204.2
9/16/2008 30.39 307.75 5025.6
9/17/2008 29.75 295 4912.4
9/18/2008 29.51 283 4880
9/19/2008 32.05 289.5 5311.3
9/22/2008 31.6 273.75 5236.3
9/23/2008 30.53 279.75 5136.1
9/24/2008 30.11 279.75 5095.6
9/25/2008 30.64 237.5 5197
9/26/2008 30.43 285.75 5088.5
9/29/2008 27.67 275 4818.8
9/30/2008 29.01 261.75 4902.5
10/1/2008 29.11 267 4959.6
10/2/2008 28.44 273.25 4870.3
10/3/2008 28.93 251 4980.3
10/6/2008 27.13 217.25 4589.2
10/7/2008 25.91 226.5 4605.2
10/8/2008 25.11 252 4366.7
10/9/2008 25.05 254.75 4313.8
10/10/2008 22.81 229.75 3932.1
10/13/2008 25.61 255 4256.9
10/14/2008 25.85 254.25 4394.2
10/15/2008 22.91 216.5 4079.6
 12 13 14 15
100 100 100 1100
Tutorial Question 1

Name SH Comp SH Comp S&P500-US S&P500 Dax-German Dax

Code SEE Return S&P500 Return Dax Return
1/3/2006 5674.15 1280.08 1258.05
2/1/2006 5796.04 0.0215 1280.66 0.0005 1299.03 0.0326
3/1/2006 5970.08 0.0300 1294.87 0.0111 1298.3 -0.0006
4/3/2006 6009.89 0.0067 1310.61 0.0122 1440.22 0.1093
5/2/2006 5692.86 -0.0528 1270.09 -0.0309 1641.3 0.1396
6/1/2006 5683.31 -0.0017 1270.2 0.0001 1672.21 0.0188
7/3/2006 5681.97 -0.0002 1276.66 0.0051 1612.73 -0.0356
8/1/2006 5859.57 0.0313 1303.82 0.0213 1658.64 0.0285
9/1/2006 6004.33 0.0247 1335.85 0.0246 1752.42 0.0565
10/2/2006 6268.92 0.0441 1377.94 0.0315 1837.99 0.0488
11/1/2006 6309.19 0.0064 1400.63 0.0165 2099.29 0.1422
12/1/2006 6596.92 0.0456 1418.3 0.0126 2675.47 0.2745
1/2/2007 6789.11 0.0291 1438.24 0.0141 2786.33 0.0414
2/1/2007 6715.44 -0.0109 1406.82 -0.0218 2881.07 0.0340
3/1/2007 6917.03 0.0300 1420.86 0.0100 3183.98 0.1051
4/2/2007 7408.87 0.0711 1482.37 0.0433 3841.27 0.2064
5/1/2007 7883.04 0.0640 1530.62 0.0325 4109.65 0.0699
6/1/2007 8007.32 0.0158 1503.35 -0.0178 3820.7 -0.0703
7/2/2007 7584.14 -0.0528 1455.27 -0.0320 4471.03 0.1702
8/1/2007 7638.17 0.0071 1473.99 0.0129 5218.83 0.1673
9/3/2007 7861.51 0.0292 1526.75 0.0358 5552.3 0.0639
10/1/2007 8019.22 0.0201 1549.38 0.0148 5954.77 0.0725
11/1/2007 7870.52 -0.0185 1481.14 -0.0440 4871.78 -0.1819
0.07
12/3/2007 7994.07 0.0157 1504.66 0.0159 5035.07 0.0335
Avg= 0.0155 0.0073 0.0664 0.06
Var= 0.0009 0.0005 0.0092
Sd= 0.0304 0.0228 0.0957 0.05

corr(SEE,S&P)= 0.8419 0.04

corr (SEE,DAX)= 0.1524
E(R)

corr (S&P,DAX)= 0.3543 0.03

0.02
Asset A Asset B
ER= 0.0155 0.0664 0.01
sd= 0.0304 0.0957
0.00
0.02 0.03 0.
corr=0.1524
Percent in Percent Expected
A in B Return sd
100.00% 0.00% 0.0155 0.0304
 94.78% 5.22% 0.0181 0.0300
90.00% 10.00% 0.0205 0.0303
80.00% 20.00% 0.0256 0.0332
70.00% 30.00% 0.0307 0.0382
60.00% 40.00% 0.0358 0.0448
50.00% 50.00% 0.0409 0.0524
40.00% 60.00% 0.0460 0.0605
30.00% 70.00% 0.0511 0.0690 mini var portfolio:
20.00% 80.00% 0.0562 0.0777 WA= 0.9478 WB=
10.00% 90.00% 0.0613 0.0867
0.00% 100.00% 0.0664 0.0957

Tutorial Question 2

PV
time 0 1 2 3 4 5 6 7
100 100 100 100 100 100 100
PV1 91.74
PV2 84.17 91.74
PV3 77.22 84.17
PV4 70.84 77.22
PV5 64.99 70.84
PV6 59.63 64.99
PV7 54.70 59.63
PV8 50.19 54.70
PV9 46.04 50.19
PV10 42.24 46.04
PV11 38.75 42.24
PV12 35.55 38.75
PV13 32.62 35.55
PV14 29.92 32.62
PV15 301.99 329.17
PV = 1080.61 1077.86

PV (if kd=10%)
time 0 1 2 3 4 5 6 7
100 100 100 100 100 100 100
PV1 90.91
PV2 82.64 90.91
PV3 75.13 82.64
PV4 68.30 75.13
PV5 62.09 68.30
PV6 56.45 62.09
PV7 51.32 56.45
PV8 46.65 51.32
PV9 42.41 46.65
PV10 38.55 42.41
PV11 35.05 38.55
PV12 31.86 35.05
PV13 28.97 31.86
PV14 26.33 28.97
PV15 263.33 289.66
PV = 1000.00 1000.00

Tutorial Question 3

Douglas NYSE [RD-E(RD)[RN-E(R[RN-E(RN)]2

-0.05 -0.12 0.01624 0.0196
0.05 0.01 0.00016 1E-04
0.08 0.06 0.00056 0.0016
0.15 0.1 0.00672 0.0064
0.1 0.05 0.00102 0.0009
sum= 0.0247 0.0286
Avg= 0.066 0.02 0.00494 0.00572
β= 0.8636

E(RDouglas)= Rf+βD[E(RM)-Rf]
= 4%+.8636*(9%-4%)
= 8.318%

Tutorial Question 4

BRITISH TELECOM. LLOYDS BANKING GRP FTSE 100 - PRICE INDEX

BT LLOY.L FTSE100
10/2/2006 50.44 540 5957.8 SCL f
10/3/2006 51.23 0.0157 542 0.0037 5937.1 -0.003
 SCL f

10/4/2006 51.45 0.0043 547.5 0.0101 5966.5 0.005

10/5/2006 50.83 -0.0121 552.5 0.0091 6004.5 0.006
10/6/2006 50.29 -0.0106 556 0.0063 6001.2 -0.001
10/9/2006 49.63 -0.0131 556 0.0000 6030.9 0.005

BT's Return
10/10/2006 49.09 -0.0109 552.5 -0.0063 6072.7 0.007
-0.10 -0.05
10/11/2006 49.61 0.0106 554.5 0.0036 6073.5 0.000
10/12/2006 49.76 0.0030 559 0.0081 6121.3 0.008
10/13/2006 50.24 0.0096 581 0.0394 6157.3 0.006
10/16/2006 50.48 0.0048 579 -0.0034 6172.4 0.002
10/17/2006 50.42 -0.0012 564.5 -0.0250 6108.6 -0.010
10/18/2006 50.05 -0.0073 569 0.0080 6150.4 0.007
10/19/2006 49.99 -0.0012 568.5 -0.0009 6156 0.001
Mark
10/20/2006 50.41 0.0084 562.5 -0.0106 6155.2 0.000
10/23/2006 50.62 0.0042 564 0.0027 6166.1 0.002 SCL
10/24/2006 51.1 0.0095 563 -0.0018 6182.5 0.003
10/25/2006 52 0.0176 564 0.0018 6214.6 0.005
10/26/2006 53.16 0.0223 563 -0.0018 6184.8 -0.005
10/27/2006 53.55 0.0073 561 -0.0036 6160.9 -0.004
10/30/2006 53.45 -0.0019 559.5 -0.0027 6126.8 -0.006

Lloyds' Return
10/31/2006 53.52 0.0013 559.5 0.0000 6129.2 0.000
11/1/2006 53.24 -0.0052 560.5 0.0018 6149.6 0.003
11/2/2006 53.92 0.0128 559 -0.0027 6149.3 0.000 -0.10 -0.05
11/3/2006 53.55 -0.0069 558 -0.0018 6148.1 0.000
11/6/2006 54.67 0.0209 561 0.0054 6224.5 0.012
11/7/2006 55.44 0.0141 561.5 0.0009 6244 0.003
11/8/2006 56.2 0.0137 560 -0.0027 6239 -0.001
11/9/2006 54.48 -0.0306 555.5 -0.0080 6231.5 -0.001
Mark
11/10/2006 53.7 -0.0143 555.5 0.0000 6208.4 -0.004
11/13/2006 53.69 -0.0002 561 0.0099 6194.2 -0.002
11/14/2006 53.25 -0.0082 561.5 0.0009 6186.6 -0.001
11/15/2006 53.55 0.0056 564.5 0.0053 6229.8 0.007
11/16/2006 53.72 0.0032 567 0.0044 6254.9 0.004
11/17/2006 53.98 0.0048 568 0.0018 6192 -0.010 a. Lloyds.
11/20/2006 53.27 -0.0132 565.5 -0.0044 6204.5 0.002 b. BT
11/21/2006 54.17 0.0169 567 0.0027 6202.6 0.000 c. BT
11/22/2006 54.08 -0.0017 564 -0.0053 6160.3 -0.007 d. BT
11/23/2006 54.08 0.0000 561.5 -0.0044 6140 -0.003
11/24/2006 54.2 0.0022 554.5 -0.0125 6122.1 -0.003
11/27/2006 53.7 -0.0092 551 -0.0063 6050.1 -0.012 βB =
11/28/2006 54.25 0.0102 546.5 -0.0082 6025.9 -0.004 βL=
11/29/2006 54.69 0.0081 546 -0.0009 6084.4 0.010 α B=
11/30/2006 56.12 0.0261 540.5 -0.0101 6048.8 -0.006 αL=
12/1/2006 57.46 0.0239 539.5 -0.0019 6021.5 -0.005
12/4/2006 57.9 0.0077 543 0.0065 6050.4 0.005
 12/5/2006 58.04 0.0024 539.5 -0.0064 6086.4 0.006
12/6/2006 57.59 -0.0078 543.5 0.0074 6090.3 0.001
12/7/2006 57.56 -0.0005 550.5 0.0129 6131.5 0.007
12/8/2006 57.46 -0.0017 555.5 0.0091 6152.4 0.003
12/11/2006 57.45 -0.0002 558.5 0.0054 6159.8 0.001
12/12/2006 58.77 0.0230 558 -0.0009 6156.4 -0.001
12/13/2006 59.77 0.0170 556.5 -0.0027 6192.5 0.006
12/14/2006 60.36 0.0099 561.5 0.0090 6228 0.006
12/15/2006 61.35 0.0164 565 0.0062 6260 0.005
12/18/2006 60.89 -0.0075 564 -0.0018 6247.4 -0.002
12/19/2006 60.7 -0.0031 557.5 -0.0115 6203.9 -0.007
12/20/2006 62.25 0.0255 560 0.0045 6198.6 -0.001
12/21/2006 61.85 -0.0064 565.5 0.0098 6183.7 -0.002
12/22/2006 60.91 -0.0152 568.5 0.0053 6190 0.001
12/26/2006 61.34 0.0071 568.5 0.0000 6190 0.000
12/27/2006 61.63 0.0047 568.5 0.0000 6245.2 0.009
12/28/2006 60.93 -0.0114 572.5 0.0070 6240.9 -0.001
12/29/2006 59.89 -0.0171 574 0.0026 6220.8 -0.003
1/1/2007 59.89 0.0000 571.5 -0.0044 6220.8 0.000
1/2/2007 59.89 0.0000 571.5 0.0000 6310.9 0.014
1/3/2007 61.68 0.0299 577.5 0.0105 6319 0.001
1/4/2007 62.52 0.0136 585 0.0130 6287 -0.005
1/5/2007 61.85 -0.0107 580.5 -0.0077 6220.1 -0.011
1/8/2007 62.01 0.0026 577.5 -0.0052 6194.2 -0.004
1/9/2007 62.7 0.0111 575.5 -0.0035 6196.1 0.000
1/10/2007 61.91 -0.0126 581 0.0096 6160.7 -0.006
1/11/2007 62.23 0.0052 577.5 -0.0060 6230.1 0.011
1/12/2007 62.44 0.0034 583 0.0095 6239 0.001
1/15/2007 62.44 0.0000 593 0.0172 6263.5 0.004
1/16/2007 61.98 -0.0074 597.5 0.0076 6215.7 -0.008
1/17/2007 62.11 0.0021 590 -0.0126 6204.5 -0.002
1/18/2007 61.49 -0.0100 584 -0.0102 6210.3 0.001
1/19/2007 61.8 0.0050 579.5 -0.0077 6237.2 0.004
1/22/2007 61.62 -0.0029 582 0.0043 6218.4 -0.003
1/23/2007 61.79 0.0028 581 -0.0017 6227.6 0.001
1/24/2007 61.84 0.0008 580.5 -0.0009 6314.8 0.014
1/25/2007 61.08 -0.0123 588 0.0129 6269.3 -0.007
1/26/2007 60.39 -0.0113 585 -0.0051 6228 -0.007
1/29/2007 60.37 -0.0003 583.5 -0.0026 6239.9 0.002
1/30/2007 60.58 0.0035 587.5 0.0069 6242 0.000
1/31/2007 61.04 0.0076 584.5 -0.0051 6203.1 -0.006
2/1/2007 61.07 0.0005 581.5 -0.0051 6282.2 0.013
2/2/2007 61.06 -0.0002 585.5 0.0069 6310.9 0.005
2/5/2007 62.47 0.0231 590 0.0077 6317.9 0.001
2/6/2007 62.96 0.0078 590.5 0.0008 6346.3 0.004
 2/7/2007 62.6 -0.0057 598.5 0.0135 6369.5 0.004
2/8/2007 62.79 0.0030 598.5 0.0000 6346.4 -0.004
2/9/2007 62.55 -0.0038 600 0.0025 6382.8 0.006
2/12/2007 62.15 -0.0064 606 0.0100 6353.5 -0.005
2/13/2007 61.87 -0.0045 602.5 -0.0058 6381.8 0.004
2/14/2007 62.23 0.0058 602.5 0.0000 6421.2 0.006
2/15/2007 62.3 0.0011 607 0.0075 6433.3 0.002
2/16/2007 61.98 -0.0051 607.5 0.0008 6419.5 -0.002
2/19/2007 61.98 0.0000 605.5 -0.0033 6444.4 0.004
2/20/2007 61.41 -0.0092 606.5 0.0017 6412.3 -0.005
2/21/2007 60.63 -0.0127 614 0.0124 6357.1 -0.009
2/22/2007 59.95 -0.0112 613 -0.0016 6380.9 0.004
2/23/2007 60.51 0.0093 613 0.0000 6401.5 0.003
2/26/2007 60.36 -0.0025 592 -0.0343 6434.7 0.005
2/27/2007 57.46 -0.0480 591.5 -0.0008 6286.1 -0.023
2/28/2007 58.08 0.0108 585 -0.0110 6171.5 -0.018
3/1/2007 57.11 -0.0167 574 -0.0188 6116 -0.009
3/2/2007 56.62 -0.0086 567 -0.0122 6116.2 0.000
3/5/2007 55.37 -0.0221 565 -0.0035 6058.7 -0.009
3/6/2007 57.04 0.0302 562.5 -0.0044 6138.5 0.013
3/7/2007 57.25 0.0037 563.5 0.0018 6156.5 0.003
3/8/2007 58.09 0.0147 539 -0.0435 6227.7 0.012
3/9/2007 58.2 0.0019 552 0.0241 6245.2 0.003
3/12/2007 58.09 -0.0019 552.5 0.0009 6233.3 -0.002
3/13/2007 56.81 -0.0220 548.5 -0.0072 6161.2 -0.012
3/14/2007 57.14 0.0058 540 -0.0155 6000.7 -0.026
3/15/2007 57.73 0.0103 532 -0.0148 6133.2 0.022
3/16/2007 58.13 0.0069 533.5 0.0028 6130.6 0.000
3/19/2007 59.05 0.0158 534 0.0009 6189.4 0.010
3/20/2007 59.55 0.0085 548 0.0262 6220.3 0.005
3/21/2007 61.39 0.0309 553.5 0.0100 6256.8 0.006
3/22/2007 60.63 -0.0124 559 0.0099 6318 0.010
3/23/2007 60.4 -0.0038 565.5 0.0116 6339.4 0.003
3/26/2007 60.3 -0.0017 573.5 0.0141 6291.9 -0.007
3/27/2007 60.33 0.0005 562.5 -0.0192 6292.6 0.000
3/28/2007 59.68 -0.0108 563.5 0.0018 6267.2 -0.004
3/29/2007 59.74 0.0010 556.5 -0.0124 6324.2 0.009
3/30/2007 60.01 0.0045 560.5 0.0072 6308 -0.003
4/2/2007 61.6 0.0265 560 -0.0009 6315.5 0.001
4/3/2007 61.85 0.0041 567 0.0125 6366.1 0.008
4/4/2007 61.7 -0.0024 567 0.0000 6364.7 0.000
4/5/2007 61.46 -0.0039 564 -0.0053 6397.3 0.005
4/9/2007 61.12 -0.0055 569 0.0089 6397.3 0.000
4/10/2007 61.92 0.0131 569 0.0000 6417.8 0.003
4/11/2007 61.9 -0.0003 569 0.0000 6413.3 -0.001
4/12/2007 61.52 -0.0061 571.5 0.0044 6416.4 0.000
4/13/2007 61.71 0.0031 570 -0.0026 6462.4 0.007
4/16/2007 62.56 0.0138 570.5 0.0009 6516.2 0.008
4/17/2007 63.2 0.0102 574.5 0.0070 6497.8 -0.003
4/18/2007 61.98 -0.0193 586 0.0200 6449.4 -0.007
4/19/2007 62.51 0.0086 585 -0.0017 6440.6 -0.001
4/20/2007 63.07 0.0090 582 -0.0051 6486.8 0.007
4/23/2007 62.51 -0.0089 577.5 -0.0077 6479.7 -0.001
4/24/2007 62.48 -0.0005 583 0.0095 6429.5 -0.008
4/25/2007 63.76 0.0205 584 0.0017 6461.9 0.005
4/26/2007 63.75 -0.0002 578 -0.0103 6469.4 0.001
4/27/2007 62.93 -0.0129 580.5 0.0043 6418.7 -0.008
4/30/2007 62.95 0.0003 582 0.0026 6449.2 0.005
5/1/2007 63.32 0.0059 579 -0.0052 6419.6 -0.005
5/2/2007 63.25 -0.0011 581 0.0035 6484.5 0.010
5/3/2007 62.71 -0.0085 573 -0.0138 6537.8 0.008
5/4/2007 63.28 0.0091 582 0.0157 6603.7 0.010
5/7/2007 63.66 0.0060 585.5 0.0060 6603.7 0.000
5/8/2007 63.71 0.0008 587 0.0026 6550.4 -0.008
5/9/2007 63.62 -0.0014 587 0.0000 6549.6 0.000
5/10/2007 62.44 -0.0185 582 -0.0085 6524.1 -0.004
5/11/2007 63.26 0.0131 581 -0.0017 6565.7 0.006
5/14/2007 63.48 0.0035 581.5 0.0009 6555.5 -0.002
5/15/2007 63.28 -0.0032 586.5 0.0086 6568.6 0.002
5/16/2007 62.68 -0.0095 583.5 -0.0051 6559.5 -0.001
5/17/2007 60.61 -0.0330 584 0.0009 6579.3 0.003
5/18/2007 61.46 0.0140 580.5 -0.0060 6640.9 0.009
5/21/2007 60.58 -0.0143 581 0.0009 6636.8 -0.001
5/22/2007 62.67 0.0345 584 0.0052 6606.6 -0.005
5/23/2007 64.63 0.0313 583 -0.0017 6616.4 0.001
5/24/2007 64.49 -0.0022 581 -0.0034 6565.4 -0.008
5/25/2007 64.37 -0.0019 583 0.0034 6570.5 0.001
5/29/2007 65.24 0.0135 576 -0.0120 6606.5 0.005
5/30/2007 65.6 0.0055 576 0.0000 6602.1 -0.001
5/31/2007 65.35 -0.0038 576 0.0000 6621.4 0.003
6/1/2007 65.6 0.0038 576 0.0000 6676.7 0.008
6/4/2007 65.35 -0.0038 576.5 0.0009 6664.1 -0.002
6/5/2007 64.76 -0.0090 575 -0.0026 6632.8 -0.005
6/6/2007 63.71 -0.0162 575 0.0000 6522.7 -0.017
6/7/2007 62.44 -0.0199 575.5 0.0009 6505.1 -0.003
6/8/2007 63.9 0.0234 579 0.0061 6505.1 0.000
6/11/2007 63.85 -0.0008 570.5 -0.0147 6567.5 0.010
6/12/2007 63.45 -0.0063 569 -0.0026 6520.4 -0.007
6/13/2007 64.47 0.0161 567.5 -0.0026 6559.6 0.006
6/14/2007 64.94 0.0073 572 0.0079 6649.9 0.014
6/15/2007 65.04 0.0015 566 -0.0105 6732.4 0.012
6/18/2007 64.8 -0.0037 567.5 0.0027 6703.5 -0.004
6/19/2007 64.85 0.0008 574.5 0.0123 6650.2 -0.008
6/20/2007 63.84 -0.0156 579 0.0078 6649.3 0.000
6/21/2007 63.62 -0.0034 578 -0.0017 6596 -0.008
6/22/2007 63.13 -0.0077 574.5 -0.0061 6567.4 -0.004
6/25/2007 62.64 -0.0078 576.5 0.0035 6588.4 0.003
6/26/2007 64.08 0.0230 573 -0.0061 6559.3 -0.004
6/27/2007 66.16 0.0325 568.5 -0.0079 6527.6 -0.005
6/28/2007 66.09 -0.0011 567 -0.0026 6571.3 0.007
6/29/2007 66.58 0.0074 560 -0.0123 6607.9 0.006
7/2/2007 66.97 0.0059 551.5 -0.0152 6590.6 -0.003
7/3/2007 67 0.0004 553.5 0.0036 6639.8 0.007
7/4/2007 67 0.0000 556 0.0045 6673.1 0.005
7/5/2007 66.41 -0.0088 550 -0.0108 6635.2 -0.006
7/6/2007 66.67 0.0039 554 0.0073 6690.1 0.008
7/9/2007 67.41 0.0111 553.5 -0.0009 6712.7 0.003
7/10/2007 65.36 -0.0304 560 0.0117 6630.9 -0.012
7/11/2007 66.1 0.0113 562 0.0036 6615.1 -0.002
7/12/2007 67.4 0.0197 565.5 0.0062 6697.7 0.012
7/13/2007 67.08 -0.0047 557.5 -0.0141 6716.7 0.003
7/16/2007 68.2 0.0167 553.5 -0.0072 6697.7 -0.003
7/17/2007 68.55 0.0051 560 0.0117 6659.1 -0.006
7/18/2007 68.22 -0.0048 566.5 0.0116 6567.1 -0.014
7/19/2007 67.8 -0.0062 569 0.0044 6640.2 0.011
7/20/2007 67.41 -0.0058 572 0.0053 6585.2 -0.008
7/23/2007 67.56 0.0022 567 -0.0087 6624.4 0.006
7/24/2007 65.87 -0.0250 569.5 0.0044 6498.7 -0.019
7/25/2007 67.6 0.0263 563.5 -0.0105 6454.3 -0.007
7/26/2007 63.42 -0.0618 568 0.0080 6251.2 -0.031
7/27/2007 63.1 -0.0050 560.5 -0.0132 6215.2 -0.006
7/30/2007 63.72 0.0098 554.5 -0.0107 6206.1 -0.001
7/31/2007 63.58 -0.0022 538.5 -0.0289 6360.1 0.025
8/1/2007 63.59 0.0002 537 -0.0028 6250.6 -0.017
8/2/2007 64.94 0.0212 534.5 -0.0047 6300.3 0.008
8/3/2007 63.85 -0.0168 558 0.0440 6224.3 -0.012
8/6/2007 64.35 0.0078 553 -0.0090 6189.1 -0.006
8/7/2007 64.74 0.0061 562 0.0163 6308.8 0.019
8/8/2007 64.89 0.0023 553.5 -0.0151 6393.9 0.013
8/9/2007 61.75 -0.0484 554.5 0.0018 6271.2 -0.019
8/10/2007 59.92 -0.0296 570 0.0280 6038.3 -0.037
8/13/2007 61.4 0.0247 565 -0.0088 6219 0.030
8/14/2007 61.72 0.0052 554 -0.0195 6143.5 -0.012
8/15/2007 60.95 -0.0125 530 -0.0433 6109.3 -0.006
8/16/2007 59.93 -0.0167 545.5 0.0292 5858.9 -0.041
 8/17/2007 61.32 0.0232 538.5 -0.0128 6064.2 0.035
8/20/2007 61.25 -0.0011 538.5 0.0000 6078.7 0.002
8/21/2007 61.94 0.0113 521 -0.0325 6086.1 0.001
8/22/2007 60.8 -0.0184 544 0.0441 6196 0.018
8/23/2007 61.36 0.0092 543.5 -0.0009 6196.9 0.000
8/24/2007 62.63 0.0207 544 0.0009 6220.1 0.004
8/27/2007 62.54 -0.0014 552 0.0147 6220.1 0.000
8/28/2007 60.85 -0.0270 553.5 0.0027 6102.2 -0.019
8/29/2007 63.09 0.0368 550.5 -0.0054 6132.2 0.005
8/30/2007 62.68 -0.0065 550.5 0.0000 6212 0.013
8/31/2007 63.76 0.0172 534 -0.0300 6303.3 0.015
9/3/2007 63.76 0.0000 534 0.0000 6315.2 0.002
9/4/2007 63.61 -0.0024 537.5 0.0066 6376.8 0.010
9/5/2007 62.02 -0.0250 545 0.0140 6270.7 -0.017
9/6/2007 62.55 0.0085 547.5 0.0046 6313.3 0.007
9/7/2007 61.09 -0.0233 548.5 0.0018 6191.2 -0.019
9/10/2007 60.6 -0.0080 535 -0.0246 6134.1 -0.009
9/11/2007 62.27 0.0276 533.5 -0.0028 6280.7 0.024
9/12/2007 62.8 0.0085 524 -0.0178 6306.2 0.004
9/13/2007 64.72 0.0306 520.5 -0.0067 6363.9 0.009
9/14/2007 63.61 -0.0172 532 0.0221 6289.3 -0.012
9/17/2007 63.15 -0.0072 530.5 -0.0028 6182.8 -0.017
9/18/2007 64.1 0.0150 534.5 0.0075 6283.3 0.016
9/19/2007 62.75 -0.0211 520 -0.0271 6460 0.028
9/20/2007 61.94 -0.0129 513 -0.0135 6429 -0.005
9/21/2007 62.21 0.0044 519.5 0.0127 6456.7 0.004
9/24/2007 61.91 -0.0048 540.5 0.0404 6465.9 0.001
9/25/2007 62.26 0.0057 532 -0.0157 6396.9 -0.011
9/26/2007 61.61 -0.0104 536 0.0075 6433 0.006
9/27/2007 62.06 0.0073 534 -0.0037 6486.4 0.008
9/28/2007 62.83 0.0124 531.5 -0.0047 6466.8 -0.003
10/1/2007 63.91 0.0172 536 0.0085 6506.2 0.006
10/2/2007 62.7 -0.0189 542.5 0.0121 6500.4 -0.001
10/3/2007 61.85 -0.0136 542.5 0.0000 6535.2 0.005
10/4/2007 61.72 -0.0021 543 0.0009 6547.9 0.002
10/5/2007 61.98 0.0042 556 0.0239 6595.8 0.007
10/8/2007 61.69 -0.0047 565 0.0162 6540.9 -0.008
10/9/2007 62.57 0.0143 571.5 0.0115 6615.4 0.011
10/10/2007 61.88 -0.0110 571 -0.0009 6633 0.003
10/11/2007 63.83 0.0315 567.5 -0.0061 6724.5 0.014
10/12/2007 64.02 0.0030 571 0.0062 6730.7 0.001
10/15/2007 63.48 -0.0084 563.5 -0.0131 6644.5 -0.013
10/16/2007 62.4 -0.0170 562 -0.0027 6614.3 -0.005
10/17/2007 63.95 0.0248 557 -0.0089 6677.7 0.010
10/18/2007 63.45 -0.0078 547.5 -0.0171 6609.4 -0.010
10/19/2007 62.74 -0.0112 536.5 -0.0201 6527.9 -0.012
10/22/2007 62.57 -0.0027 547.5 0.0205 6459.3 -0.011
10/23/2007 63.65 0.0173 543.5 -0.0073 6514 0.008
10/24/2007 63.84 0.0030 536.5 -0.0129 6482 -0.005
10/25/2007 65.78 0.0304 530 -0.0121 6576.3 0.015
10/26/2007 67.47 0.0257 531 0.0019 6661.3 0.013
10/29/2007 67.52 0.0007 527.5 -0.0066 6706 0.007
10/30/2007 66.91 -0.0090 529.5 0.0038 6659 -0.007
10/31/2007 68.09 0.0176 534 0.0085 6721.6 0.009
11/1/2007 66.11 -0.0291 536 0.0037 6586.1 -0.020
11/2/2007 67.01 0.0136 536 0.0000 6530.6 -0.008
11/5/2007 66.83 -0.0027 545.5 0.0177 6461.4 -0.011
11/6/2007 67.1 0.0040 531 -0.0266 6474.9 0.002
11/7/2007 65.63 -0.0219 517.5 -0.0254 6385.1 -0.014
11/8/2007 63.55 -0.0317 508 -0.0184 6381.9 -0.001
11/9/2007 60.4 -0.0496 510 0.0039 6304.9 -0.012
11/12/2007 59.04 -0.0225 502 -0.0157 6337.9 0.005
11/13/2007 60.69 0.0279 483.5 -0.0369 6362.4 0.004
11/14/2007 58.95 -0.0287 474.5 -0.0186 6432.1 0.011
11/15/2007 58.01 -0.0159 487.5 0.0274 6359.6 -0.011
11/16/2007 58.33 0.0055 497.5 0.0205 6291.2 -0.011
11/19/2007 57.69 -0.0110 499.5 0.0040 6120.8 -0.027
11/20/2007 58.23 0.0094 491.75 -0.0155 6226.5 0.017
11/21/2007 56.72 -0.0259 481.25 -0.0214 6070.9 -0.025
11/22/2007 56.72 0.0000 466.75 -0.0301 6155.3 0.014
11/23/2007 60.14 0.0603 472 0.0112 6262.1 0.017
11/26/2007 58.24 -0.0316 451.25 -0.0440 6180.5 -0.013
11/27/2007 58.67 0.0074 457 0.0127 6140.7 -0.006
11/28/2007 59.8 0.0193 470.25 0.0290 6306.2 0.027
11/29/2007 58.74 -0.0177 455.5 -0.0314 6349.1 0.007
11/30/2007 58.87 0.0022 454 -0.0033 6432.5 0.013
12/3/2007 59.47 0.0102 473 0.0419 6386.6 -0.007
12/4/2007 59.06 -0.0069 474 0.0021 6315.2 -0.011
12/5/2007 60.13 0.0181 495 0.0443 6493.8 0.028
12/6/2007 59.6 -0.0088 490.75 -0.0086 6485.6 -0.001
12/7/2007 59.27 -0.0055 474.25 -0.0336 6554.9 0.011
12/10/2007 59.37 0.0017 485.5 0.0237 6565.4 0.002
12/11/2007 58.09 -0.0216 487.5 0.0041 6536.9 -0.004
12/12/2007 59.23 0.0196 488 0.0010 6559.8 0.004
12/13/2007 58.58 -0.0110 504.5 0.0338 6364.2 -0.030
12/14/2007 57.1 -0.0253 498.75 -0.0114 6397 0.005
12/17/2007 55.7 -0.0245 498.75 0.0000 6277.8 -0.019
12/18/2007 55.92 0.0039 471.75 -0.0541 6279.3 0.000
12/19/2007 55.56 -0.0064 476.5 0.0101 6284.5 0.001
12/20/2007 55.18 -0.0068 464 -0.0262 6345.6 0.010
12/21/2007 55.46 0.0051 465 0.0022 6434.1 0.014
12/24/2007 55.25 -0.0038 462.25 -0.0059 6479.3 0.007
12/25/2007 55.25 0.0000 461.25 -0.0022 6479.3 0.000
12/26/2007 54.5 -0.0136 470 0.0190 6479.3 0.000
12/27/2007 55.22 0.0132 475.25 0.0112 6497.8 0.003
12/28/2007 54.06 -0.0210 475.25 0.0000 6476.9 -0.003
12/31/2007 53.92 -0.0026 475.25 0.0000 6456.9 -0.003
1/2/2008 53.16 -0.0141 475.75 0.0011 6416.7 -0.006
1/3/2008 52.93 -0.0043 475.25 -0.0011 6479.4 0.010
1/4/2008 51.8 -0.0213 472 -0.0068 6348.5 -0.020
1/7/2008 52.07 0.0052 472 0.0000 6335.7 -0.002
1/8/2008 53.81 0.0334 469 -0.0064 6356.5 0.003
1/9/2008 53.57 -0.0045 471.5 0.0053 6272.7 -0.013
1/10/2008 54.52 0.0177 455 -0.0350 6222.7 -0.008
1/11/2008 54.55 0.0006 452 -0.0066 6202 -0.003
1/14/2008 53.71 -0.0154 443.5 -0.0188 6215.7 0.002
1/15/2008 53.38 -0.0061 433.5 -0.0225 6025.6 -0.031
1/16/2008 53.36 -0.0004 430.5 -0.0069 5942.9 -0.014
1/17/2008 53.48 0.0022 430.25 -0.0006 5902.4 -0.007
1/18/2008 53.81 0.0062 425 -0.0122 5901.7 0.000
1/21/2008 53.81 0.0000 406 -0.0447 5578.2 -0.055
1/22/2008 49.59 -0.0784 394.25 -0.0289 5740.1 0.029
1/23/2008 49.35 -0.0048 405.5 0.0285 5609.3 -0.023
1/24/2008 50.32 0.0197 401.25 -0.0105 5875.8 0.048
1/25/2008 50.15 -0.0034 373.5 -0.0692 5869 -0.001
1/28/2008 50.93 0.0156 408 0.0924 5788.9 -0.014
1/29/2008 51.24 0.0061 410 0.0049 5885.2 0.017
1/30/2008 51.15 -0.0018 443.75 0.0823 5837.3 -0.008
1/31/2008 51.85 0.0137 429.25 -0.0327 5879.8 0.007
2/1/2008 52.4 0.0106 422 -0.0169 6029.2 0.025
2/4/2008 51.58 -0.0156 439.5 0.0415 6026.2 0.000
2/5/2008 49.92 -0.0322 438 -0.0034 5868 -0.026
2/6/2008 50.68 0.0152 437.5 -0.0011 5875.4 0.001
2/7/2008 46.25 -0.0874 441.75 0.0097 5724.1 -0.026
2/8/2008 45.02 -0.0266 447.5 0.0130 5784 0.010
2/11/2008 45.1 0.0018 432.5 -0.0335 5707.7 -0.013
2/12/2008 44.98 -0.0027 425 -0.0173 5910 0.035
2/13/2008 44.66 -0.0071 416 -0.0212 5880.1 -0.005
2/14/2008 45.35 0.0155 416.5 0.0012 5879.3 0.000
2/15/2008 46.21 0.0190 404.25 -0.0294 5787.6 -0.016
2/19/2008 44.76 -0.0314 421.5 0.0427 5966.9 0.031
2/20/2008 44.7 -0.0013 416 -0.0130 5893.6 -0.012
2/21/2008 45.1 0.0089 410.5 -0.0132 5932.2 0.007
2/22/2008 45.52 0.0093 395.75 -0.0359 5888.5 -0.007
2/25/2008 47.02 0.0330 424.5 0.0726 5999.5 0.019
2/26/2008 47.43 0.0087 432 0.0177 6087.4 0.015
2/27/2008 46.45 -0.0207 428 -0.0093 6076.5 -0.002
2/28/2008 45.59 -0.0185 436.75 0.0204 5965.7 -0.018
2/29/2008 45.27 -0.0070 457.5 0.0475 5884.3 -0.014
3/3/2008 44.42 -0.0188 466.5 0.0197 5818.6 -0.011
3/4/2008 43.58 -0.0189 482.25 0.0338 5767.7 -0.009
3/5/2008 44.02 0.0101 476.25 -0.0124 5853.5 0.015
3/6/2008 43.24 -0.0177 463.5 -0.0268 5766.4 -0.015
3/7/2008 43.47 0.0053 453.5 -0.0216 5699.9 -0.012
3/10/2008 42.57 -0.0207 444.5 -0.0198 5629.1 -0.012
3/11/2008 42.84 0.0063 440.25 -0.0096 5690.4 0.011
3/12/2008 43.34 0.0117 428.25 -0.0273 5776.4 0.015
3/13/2008 43.52 0.0042 413.75 -0.0339 5692.4 -0.015
3/14/2008 42.7 -0.0188 424 0.0248 5631.7 -0.011
3/17/2008 41.39 -0.0307 421 -0.0071 5414.4 -0.039
3/18/2008 43.18 0.0432 433.25 0.0291 5605.8 0.035
3/19/2008 40.46 -0.0630 444 0.0248 5545.6 -0.011
3/20/2008 42.05 0.0393 430 -0.0315 5495.2 -0.009
3/24/2008 42.55 0.0119 421.25 -0.0203 5495.2 0.000
3/25/2008 43.82 0.0298 398 -0.0552 5689.1 0.035
3/26/2008 42.53 -0.0294 416.5 0.0465 5660.4 -0.005
3/27/2008 42.84 0.0073 427.25 0.0258 5717.5 0.010
3/28/2008 42.49 -0.0082 434 0.0158 5692.9 -0.004
3/31/2008 43.1 0.0144 434 0.0000 5702.1 0.002
4/1/2008 44.56 0.0339 434 0.0000 5852.6 0.026
4/2/2008 45.5 0.0211 461.5 0.0634 5915.9 0.011
4/3/2008 45.32 -0.0040 461.75 0.0005 5891.3 -0.004
4/4/2008 45.81 0.0108 459.5 -0.0049 5947.1 0.009
4/7/2008 45.51 -0.0065 451.25 -0.0180 6014.8 0.011
4/8/2008 45.9 0.0086 451 -0.0006 5990.2 -0.004
4/9/2008 45.6 -0.0065 480.25 0.0649 5983.9 -0.001
4/10/2008 44.74 -0.0189 483.25 0.0062 5965.1 -0.003
4/11/2008 44 -0.0165 462.75 -0.0424 5895.5 -0.012
4/14/2008 43.67 -0.0075 457.5 -0.0113 5831.6 -0.011
4/15/2008 42.61 -0.0243 461.5 0.0087 5906.9 0.013
4/16/2008 43.69 0.0253 457 -0.0098 6046.2 0.024
4/17/2008 42.97 -0.0165 454.25 -0.0060 5980.4 -0.011
4/18/2008 43.82 0.0198 446.25 -0.0176 6056.5 0.013
4/21/2008 43.25 -0.0130 433 -0.0297 6053 -0.001
4/22/2008 42.23 -0.0236 421 -0.0277 6034.7 -0.003
4/23/2008 42.52 0.0069 427 0.0143 6083.6 0.008
4/24/2008 42.95 0.0101 441.75 0.0345 6050.7 -0.005
4/25/2008 43.91 0.0224 442.75 0.0023 6091.4 0.007
4/28/2008 43.55 -0.0082 453.25 0.0237 6090.4 0.000
4/29/2008 42.86 -0.0158 442.5 -0.0237 6089.4 0.000
4/30/2008 44.14 0.0299 439.75 -0.0062 6087.3 0.000
5/1/2008 44.16 0.0005 430.5 -0.0210 6087.3 0.000
5/2/2008 44.28 0.0027 436 0.0128 6215.5 0.021
5/6/2008 43.9 -0.0086 442.25 0.0143 6215.2 0.000
5/7/2008 43.65 -0.0057 447.25 0.0113 6261 0.007
5/8/2008 44.09 0.0101 438.75 -0.0190 6270.8 0.002
5/9/2008 43.36 -0.0166 432.5 -0.0142 6204.7 -0.011
5/12/2008 44.04 0.0157 430.75 -0.0040 6220.6 0.003
5/13/2008 43.67 -0.0084 452.5 0.0505 6211.9 -0.001
5/14/2008 43.69 0.0005 439 -0.0298 6216 0.001
5/15/2008 46.2 0.0575 449.5 0.0239 6251.8 0.006
5/16/2008 46.08 -0.0026 443.75 -0.0128 6304.3 0.008
5/19/2008 45.75 -0.0072 433 -0.0242 6376.5 0.011
5/20/2008 45.43 -0.0070 424.75 -0.0191 6191.6 -0.029
5/21/2008 44.04 -0.0306 418 -0.0159 6198.1 0.001
5/22/2008 45.32 0.0291 410.5 -0.0179 6181.6 -0.003
5/23/2008 44.98 -0.0075 409 -0.0037 6087.3 -0.015
5/27/2008 44.48 -0.0111 411 0.0049 6058.5 -0.005
5/28/2008 44.59 0.0025 408.25 -0.0067 6069.6 0.002
5/29/2008 43.67 -0.0206 402.75 -0.0135 6068.1 0.000
5/30/2008 44.01 0.0078 394.75 -0.0199 6053.5 -0.002
6/2/2008 43.27 -0.0168 391.25 -0.0089 6007.6 -0.008
6/3/2008 43.44 0.0039 395 0.0096 6057.7 0.008
6/4/2008 43.75 0.0071 393.5 -0.0038 5970.1 -0.014
6/5/2008 44.4 0.0149 384.75 -0.0222 5995.3 0.004
6/6/2008 42.83 -0.0354 377 -0.0201 5906.8 -0.015
6/9/2008 42.18 -0.0152 384 0.0186 5877.6 -0.005
6/10/2008 41.71 -0.0111 377.25 -0.0176 5827.3 -0.009
6/11/2008 41.5 -0.0050 388.75 0.0305 5723.3 -0.018
6/12/2008 40.79 -0.0171 390.25 0.0039 5790.5 0.012
6/13/2008 42.24 0.0355 385.5 -0.0122 5802.8 0.002
6/16/2008 41.81 -0.0102 368.25 -0.0447 5794.6 -0.001
6/17/2008 41.9 0.0022 351.5 -0.0455 5861.9 0.012
6/18/2008 41.37 -0.0126 332.75 -0.0533 5756.9 -0.018
6/19/2008 41.38 0.0002 353.5 0.0624 5708.4 -0.008
6/20/2008 39.92 -0.0353 356 0.0071 5620.8 -0.015
6/23/2008 40.18 0.0065 348 -0.0225 5667.2 0.008
6/24/2008 40.2 0.0005 356.25 0.0237 5634.7 -0.006
6/25/2008 40.58 0.0095 341.25 -0.0421 5666.1 0.006
6/26/2008 39.8 -0.0192 332 -0.0271 5518.2 -0.026
6/27/2008 39.47 -0.0083 327.5 -0.0136 5529.9 0.002
6/30/2008 39.73 0.0066 318.75 -0.0267 5625.9 0.017
7/1/2008 40.45 0.0181 325.75 0.0220 5479.9 -0.026
7/2/2008 40.89 0.0109 328.5 0.0084 5426.3 -0.010
7/3/2008 41.84 0.0232 306.75 -0.0662 5476.6 0.009
 7/4/2008 41.84 0.0000 317 0.0334 5412.8 -0.012
7/7/2008 41.34 -0.0120 310.75 -0.0197 5512.7 0.018
7/8/2008 42.6 0.0305 301 -0.0314 5440.5 -0.013
7/9/2008 42.28 -0.0075 295.5 -0.0183 5529.6 0.016
7/10/2008 41.68 -0.0142 306 0.0355 5406.8 -0.022
7/11/2008 40.46 -0.0293 299.25 -0.0221 5261.6 -0.027
7/14/2008 40.25 -0.0052 295.5 -0.0125 5300.4 0.007
7/15/2008 38.54 -0.0425 285.75 -0.0330 5171.9 -0.024
7/16/2008 39.65 0.0288 304.75 0.0665 5150.6 -0.004
7/17/2008 39.45 -0.0050 292.5 -0.0402 5286.3 0.026
7/18/2008 40.83 0.0350 275.5 -0.0581 5376.4 0.017
7/21/2008 41.09 0.0064 282.25 0.0245 5404.3 0.005
7/22/2008 39.26 -0.0445 273 -0.0328 5364.1 -0.007
7/23/2008 40.6 0.0341 284 0.0403 5449.9 0.016
7/24/2008 40.08 -0.0128 300.5 0.0581 5362.3 -0.016
7/25/2008 39.68 -0.0100 331 0.1015 5352.6 -0.002
7/28/2008 39.12 -0.0141 325.75 -0.0159 5312.6 -0.007
7/29/2008 39.5 0.0097 320 -0.0177 5319.2 0.001
7/30/2008 39.24 -0.0066 346.5 0.0828 5420.7 0.019
7/31/2008 33.12 -0.1560 338 -0.0245 5411.9 -0.002
8/1/2008 33.84 0.0217 331.25 -0.0200 5354.7 -0.011
8/4/2008 33.81 -0.0009 318.25 -0.0392 5320.2 -0.006
8/5/2008 34.29 0.0142 321 0.0086 5454.5 0.025
8/6/2008 34.39 0.0029 306 -0.0467 5486.1 0.006
8/7/2008 34.06 -0.0096 295.25 -0.0351 5477.5 -0.002
8/8/2008 34.67 0.0179 300 0.0161 5489.2 0.002
8/11/2008 34.67 0.0000 293.25 -0.0225 5541.8 0.010
8/12/2008 34.72 0.0014 324.5 0.1066 5534.5 -0.001
8/13/2008 33.99 -0.0210 314.25 -0.0316 5448.6 -0.016
8/14/2008 33.29 -0.0206 318.75 0.0143 5497.4 0.009
8/15/2008 33.14 -0.0045 318 -0.0024 5454.8 -0.008
8/18/2008 33.38 0.0072 330.75 0.0401 5450.2 -0.001
8/19/2008 33.09 -0.0087 329 -0.0053 5320.4 -0.024
8/20/2008 30.71 -0.0719 308.5 -0.0623 5371.8 0.010
8/21/2008 30.54 -0.0055 306.25 -0.0073 5370.2 0.000
8/22/2008 30.94 0.0131 312 0.0188 5505.6 0.025
8/26/2008 30.47 -0.0152 306 -0.0192 5470.7 -0.006
8/27/2008 30.09 -0.0125 288.25 -0.0580 5528.1 0.010
8/28/2008 30.5 0.0136 290.25 0.0069 5601.2 0.013
8/29/2008 31.64 0.0374 280 -0.0353 5636.6 0.006
9/1/2008 31.3 -0.0107 299.5 0.0696 5602.8 -0.006
9/2/2008 30.64 -0.0211 292 -0.0250 5620.7 0.003
9/3/2008 30.74 0.0033 295.5 0.0120 5499.7 -0.022
9/4/2008 30.37 -0.0120 305.5 0.0338 5362.1 -0.025
9/5/2008 30.28 -0.0030 303.75 -0.0057 5240.7 -0.023
 9/8/2008 30.78 0.0165 307.5 0.0123 5446.3 0.039
9/9/2008 30.85 0.0023 311 0.0114 5415.6 -0.006
9/10/2008 30.85 0.0000 303.5 -0.0241 5366.2 -0.009
9/11/2008 30.68 -0.0055 286.25 -0.0568 5318.4 -0.009
9/12/2008 31.81 0.0368 279 -0.0253 5416.7 0.018
9/15/2008 30.93 -0.0277 310 0.1111 5204.2 -0.039
9/16/2008 30.39 -0.0175 307.75 -0.0073 5025.6 -0.034
9/17/2008 29.75 -0.0211 295 -0.0414 4912.4 -0.023
9/18/2008 29.51 -0.0081 283 -0.0407 4880 -0.007
9/19/2008 32.05 0.0861 289.5 0.0230 5311.3 0.088
9/22/2008 31.6 -0.0140 273.75 -0.0544 5236.3 -0.014
9/23/2008 30.53 -0.0339 279.75 0.0219 5136.1 -0.019
9/24/2008 30.11 -0.0138 279.75 0.0000 5095.6 -0.008
9/25/2008 30.64 0.0176 237.5 -0.1510 5197 0.020
9/26/2008 30.43 -0.0069 285.75 0.2032 5088.5 -0.021
9/29/2008 27.67 -0.0907 275 -0.0376 4818.8 -0.053
9/30/2008 29.01 0.0484 261.75 -0.0482 4902.5 0.017
10/1/2008 29.11 0.0034 267 0.0201 4959.6 0.012
10/2/2008 28.44 -0.0230 273.25 0.0234 4870.3 -0.018
10/3/2008 28.93 0.0172 251 -0.0814 4980.3 0.023
10/6/2008 27.13 -0.0622 217.25 -0.1345 4589.2 -0.079
10/7/2008 25.91 -0.0450 226.5 0.0426 4605.2 0.003
10/8/2008 25.11 -0.0309 252 0.1126 4366.7 -0.052
10/9/2008 25.05 -0.0024 254.75 0.0109 4313.8 -0.012
10/10/2008 22.81 -0.0894 229.75 -0.0981 3932.1 -0.088
10/13/2008 25.61 0.1228 255 0.1099 4256.9 0.083
10/14/2008 25.85 0.0094 254.25 -0.0029 4394.2 0.032
10/15/2008 22.91 -0.1137 216.5 -0.1485 4079.6 -0.072
Avg= -0.0013 -0.0013 -0.0006
sd= 0.0215 0.0283 0.0151
var= 0.0005 0.0008 0.0002
Cov(RB,RM) 0.0002 Cov(RL,RM) 0.00004
 0.07

0.06

0.05

0.04
Column C
E(R)

0.03

0.02

0.01

0.00
0.02 0.03 0.04 0.05 0.06 0.07 0.08 0.09 0.10
sd
0.0522

8 9 10 11 12 13 14 15
100 100 100 100 100 100 100 1100

8 9 10 11 12 13 14 15
100 100 100 100 100 100 100 1100
SCL for BT stock
0.15

0.10

0.05
 SCL for BT stock
0.15

0.10

0.05
BT's Return

0.00
-0.10 -0.05 0.00 0.05 0.10

-0.05

-0.10

-0.15

-0.20

Market Index Return

SCL for BT stock

0.25

0.20

0.15
Lloyds' Return

0.10

0.05

0.00
-0.10 -0.05 0.00 0.05 0.10
-0.05

-0.10

-0.15

-0.20
Market Index Return

a. Lloyds.
b. BT
c. BT
d. BT

0.76692
0.15873
-0.0008
-0.0013