6. The last ten observations of the holding period returns (HPR) of stock XYZ are given in the following table:

Period XYZ

1. -3%

2. 2%

3. 6%

4 -5%

5 -10%

6 10%

7 3%

8. 7%

9 0%

10. -3%

Standard deviation of XYZ return
Month	Return	(Return - mean)	(Return - mean) ^2
1	-3%	-3.70%	0.001369
2	2%	1.30%	0.000169
3	6%	5.30%	0.002809
4	-5%	-5.70%	0.003249
5	-10%	-10.70%	0.011449
6	10%	10.00%	0.01
7	3%	3.00%	0.0009
8	7%	7.00%	0.0049
9	0%	0.00%	0
10	-3%	-3.00%	0.0009
Expected Return	0.70%		0.019045
		Variance	0.003839444
		Standard deviation	6.20%

What is the likely frequency of the data (daily, monthly, yearly)? Compare to historical data discussed in class to justify your answer.