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begin{tabular}{|c|c|c|} hline & lMkt-RF & if hline 7/1/26 & 0.012669 & 0.000954 hline 8/1/26 & 0.011317 & 0.00108 hline 9/1/26 & 0.001561

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\begin{tabular}{|c|c|c|} \hline & lMkt-RF & if \\ \hline 7/1/26 & 0.012669 & 0.000954 \\ \hline 8/1/26 & 0.011317 & 0.00108 \\ \hline 9/1/26 & 0.001561 & 0.000998 \\ \hline 10/1/26 & -0.0143 & 0.001388 \\ \hline 11/1/26 & 0.010851 & 0.001344 \\ \hline 12/1/26 & 0.011232 & 0.001214 \\ \hline 1/1/27 & -0.00026 & 0.001084 \\ \hline 2/1/27 & 0.017784 & 0.001128 \\ \hline 3/1/27 & 0.000564 & 0.001301 \\ \hline 4/1/27 & 0.001993 & 0.001084 \\ \hline 5/1/27 & 0.023005 & 0.001301 \\ \hline 6/1/27 & -0.01028 & 0.001128 \\ \hline 7/1/27 & 0.030438 & 0.001301 \\ \hline 8/1/27 & 0.008472 & 0.001214 \\ \hline 9/1/27 & 0.020195 & 0.000911 \\ \hline 10/1/27 & -0.01913 & 0.001084 \\ \hline 11/1/27 & 0.027676 & 0.000911 \\ \hline 12/1/27 & 0.008983 & 0.000954 \\ \hline 1/1/28 & -0.00296 & 0.001084 \\ \hline 2/1/28 & -0.00745 & 0.001431 \\ \hline 3/1/28 & 0.036669 & 0.001258 \\ \hline 4/1/28 & 0.017993 & 0.000954 \\ \hline 5/1/28 & 0.006552 & 0.001388 \\ \hline 6/1/28 & \begin{tabular}{ll} 3 & -0.02159 \end{tabular} & 0.001344 \\ \hline 7/1/28 & \begin{tabular}{ll} 8 & 0.002684 \end{tabular} & 0.001388 \\ \hline 8/1/28 & \begin{tabular}{ll} 3 & 0.028083 \end{tabular} & 0.001388 \\ \hline 9/1/28 & 0.012331 & 0.001171 \\ \hline 10/1/28 & 0.005738 & 0.001777 \\ \hline 11/1/28 & 0.048481 & 0.001647 \\ \hline 12/1/28 & \begin{tabular}{ll} 8 & 0.001561 \end{tabular} & 0.00026 \\ \hline 1/1/29 & \begin{tabular}{ll} 9 & 0.019781 \end{tabular} & 0.001474 \\ \hline 2/1/29 & -0.00148 & 0.001561 \\ \hline 3/1/29 & -0.00388 & 0.001474 \\ \hline 4/1/29 & 0.006166 & 0.001561 \\ \hline 5/1/29 & -0.02868 & 0.001907 \\ \hline 6/1/29 & \begin{tabular}{ll} 9 & 0.040207 \end{tabular} & 0.002252 \\ \hline 7/1/29 & 0.01895 & 0.001431 \\ \hline 8/1/29 & 0.034147 & 0.001734 \\ \hline 9/1/29 & -0.02443 & 0.001517 \\ \hline 10/1/29 & -0.09756 & 0.001993 \\ \hline 11/1/29 & -0.05918 & 0.001604 \\ \hline 12/1/29 & 0.005738 & 0.001604 \\ \hline \end{tabular} In the Mos warkher: \begin{tabular}{|c|c|c|c|c|c|c|} \hline & & Adj Close & log-return & Ri-rf & RM-rf & if \\ \hline & 2/1/99 & 0.419791 & & & & \\ \hline & 3/1/99 & 0.404243 & -0.016391 & -0.018254 & 0.01473 & 0.0018 \\ \hline & 4/1/99 & 0.349228 & -0.063533 & -0.065137 & 0.018409 & 0.001604 \\ \hline & 5/1/99 & 0.326504 & -0.029221 & -0.030695 & -0.01082 & 0.001474 \\ \hline & 6/1/99 & 0.365972 & 0.0495594 & 0.0478256 & 0.020237 & 0.001734 \\ \hline & 7/1/99 & 0.385108 & 0.0221347 & 0.0204875 & -0.01543 & 0.001647 \\ \hline & 8/1/99 & 0.538194 & 0.1453563 & 0.1436659 & -0.00604 & 0.00169 \\ \hline & 9/1/99 & 0.368364 & -0.164662 & -0.166352 & -0.01229 & 0.00169 \\ \hline & 10/1/99 & 0.423379 & 0.0604521 & 0.0587617 & 0.025797 & 0.00169 \\ \hline & 11/1/99 & 0.662576 & 0.1945064 & 0.1929457 & 0.014395 & 0.001561 \\ \hline & 12/1/99 & 0.898186 & 0.1321306 & 0.1302239 & 0.032296 & 0.001907 \\ \hline & 1/1/00 & 0.709219 & -0.102586 & -0.104363 & -0.02109 & 0.001777 \\ \hline & 2/1/00 & 1.224689 & 0.2372455 & 0.235382 & 0.010512 & 0.001863 \\ \hline & 3/1/00 & 1.616674 & 0.1205966 & 0.1185602 & 0.022016 & 0.002036 \\ \hline & 4/1/00 & 1.705476 & 0.0232232 & 0.02123 & -0.02872 & 0.001993 \\ \hline & 5/1/00 & 2.18387 & 0.1073812 & 0.1052151 & -0.01963 & 0.002166 \\ \hline & 6/1/00 & 2.432635 & 0.0468502 & 0.0451165 & 0.019698 & 0.001734 \\ \hline & 7/1/00 & 2.296292 & -0.02505 & -0.027129 & -0.01104 & 0.00208 \\ \hline & 8/1/00 & 3.037804 & 0.1215326 & 0.1193666 & 0.029506 & 0.002166 \\ \hline & 9/1/00 & 3.133482 & 0.0134675 & 0.0112582 & -0.02434 & 0.002209 \\ \hline & 10/1/00 & 2.378218 & 30.119776 & -0.122201 & -0.01216 & 0.002425 \\ \hline & 11/1/00 & 1.549998 & 30.185921 & -0.18813 & -0.04925 & 0.002209 \\ \hline & 12/1/00 & 1.253991 & 10.092037 & -0.094203 & 0.005138 & 0.002166 \\ \hline & 1/1/01 & 1.975769 & 0.1974417 & 0.1951029 & 0.013385 & 0.002339 \\ \hline & 2/1/01 & 1.71026 & -0.062674 & -0.064321 & -0.046 & 0.001647 \\ \hline & 3/1/01 & 2.48466 & 50.1622048 & 0.1603846 & -0.03273 & 0.00182 \\ \hline & 5/1/01 & 3.276427 & 0,0118796 & 0.0104921 & 0.003116 & 0.001388 \\ \hline & 6/1/01 & 13.549685 & 50.0347893 & 0.033575 & -0.00851 & 0.001214 \\ \hline & 7/1/01 & \begin{tabular}{|c|} \end{tabular} .096168 & -0.059365 & -0.060666 & -0.00935 & 0.001301 \\ \hline & 8/1/01 & 3.241983 & 0.0199862 & 0.018642 & -0.029 & 0.001344 \\ \hline & 9/1/01 & 2.102639 & -0.188046 & -0.18926 & -0.04215 & 0.001214 \\ \hline & 10/1/01 & 13.280637 & 70.1931935 & 0.1922391 & 0.010554 & 0.000954 \\ \hline & 11/1/01 & 14.182315 & 50.1054586 & 0.1047209 & 0.03157 & 0.000738 \\ \hline 3 & 12/1/01 & 5.120732 & 20.0879153 & 0.0872644 & 0.006894 & 0.000651 \\ \hline & 1/1/02 & 5.031943 & 30.007596 & -0.008204 & -0.0063 & 0.000608 \\ \hline 40 & 2/1/02 & 3.904463 & 30.110174 & -0.110739 & 0.01006 & 0.000564 \\ \hline 41 & 3/1/02 & 3.395451 & -0.060664 & -0.061228 & 0.018034 & 0,000564 \\ \hline 42 & 4/1/02 & 2.664465 & -0.105287 & -0.105938 & -0.02319 & 0.000651 \\ \hline 43 & 5/1/02 & 2.561131 & -0.017178 & -0.017786 & -0.00604 & 0.000608 \\ \hline 44 & 6/1/02 & 1.31501 & -0.289503 & -0.290067 & -0.0325 & 0.000564 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline & lMkt-RF & if \\ \hline 7/1/26 & 0.012669 & 0.000954 \\ \hline 8/1/26 & 0.011317 & 0.00108 \\ \hline 9/1/26 & 0.001561 & 0.000998 \\ \hline 10/1/26 & -0.0143 & 0.001388 \\ \hline 11/1/26 & 0.010851 & 0.001344 \\ \hline 12/1/26 & 0.011232 & 0.001214 \\ \hline 1/1/27 & -0.00026 & 0.001084 \\ \hline 2/1/27 & 0.017784 & 0.001128 \\ \hline 3/1/27 & 0.000564 & 0.001301 \\ \hline 4/1/27 & 0.001993 & 0.001084 \\ \hline 5/1/27 & 0.023005 & 0.001301 \\ \hline 6/1/27 & -0.01028 & 0.001128 \\ \hline 7/1/27 & 0.030438 & 0.001301 \\ \hline 8/1/27 & 0.008472 & 0.001214 \\ \hline 9/1/27 & 0.020195 & 0.000911 \\ \hline 10/1/27 & -0.01913 & 0.001084 \\ \hline 11/1/27 & 0.027676 & 0.000911 \\ \hline 12/1/27 & 0.008983 & 0.000954 \\ \hline 1/1/28 & -0.00296 & 0.001084 \\ \hline 2/1/28 & -0.00745 & 0.001431 \\ \hline 3/1/28 & 0.036669 & 0.001258 \\ \hline 4/1/28 & 0.017993 & 0.000954 \\ \hline 5/1/28 & 0.006552 & 0.001388 \\ \hline 6/1/28 & \begin{tabular}{ll} 3 & -0.02159 \end{tabular} & 0.001344 \\ \hline 7/1/28 & \begin{tabular}{ll} 8 & 0.002684 \end{tabular} & 0.001388 \\ \hline 8/1/28 & \begin{tabular}{ll} 3 & 0.028083 \end{tabular} & 0.001388 \\ \hline 9/1/28 & 0.012331 & 0.001171 \\ \hline 10/1/28 & 0.005738 & 0.001777 \\ \hline 11/1/28 & 0.048481 & 0.001647 \\ \hline 12/1/28 & \begin{tabular}{ll} 8 & 0.001561 \end{tabular} & 0.00026 \\ \hline 1/1/29 & \begin{tabular}{ll} 9 & 0.019781 \end{tabular} & 0.001474 \\ \hline 2/1/29 & -0.00148 & 0.001561 \\ \hline 3/1/29 & -0.00388 & 0.001474 \\ \hline 4/1/29 & 0.006166 & 0.001561 \\ \hline 5/1/29 & -0.02868 & 0.001907 \\ \hline 6/1/29 & \begin{tabular}{ll} 9 & 0.040207 \end{tabular} & 0.002252 \\ \hline 7/1/29 & 0.01895 & 0.001431 \\ \hline 8/1/29 & 0.034147 & 0.001734 \\ \hline 9/1/29 & -0.02443 & 0.001517 \\ \hline 10/1/29 & -0.09756 & 0.001993 \\ \hline 11/1/29 & -0.05918 & 0.001604 \\ \hline 12/1/29 & 0.005738 & 0.001604 \\ \hline \end{tabular} In the Mos warkher: \begin{tabular}{|c|c|c|c|c|c|c|} \hline & & Adj Close & log-return & Ri-rf & RM-rf & if \\ \hline & 2/1/99 & 0.419791 & & & & \\ \hline & 3/1/99 & 0.404243 & -0.016391 & -0.018254 & 0.01473 & 0.0018 \\ \hline & 4/1/99 & 0.349228 & -0.063533 & -0.065137 & 0.018409 & 0.001604 \\ \hline & 5/1/99 & 0.326504 & -0.029221 & -0.030695 & -0.01082 & 0.001474 \\ \hline & 6/1/99 & 0.365972 & 0.0495594 & 0.0478256 & 0.020237 & 0.001734 \\ \hline & 7/1/99 & 0.385108 & 0.0221347 & 0.0204875 & -0.01543 & 0.001647 \\ \hline & 8/1/99 & 0.538194 & 0.1453563 & 0.1436659 & -0.00604 & 0.00169 \\ \hline & 9/1/99 & 0.368364 & -0.164662 & -0.166352 & -0.01229 & 0.00169 \\ \hline & 10/1/99 & 0.423379 & 0.0604521 & 0.0587617 & 0.025797 & 0.00169 \\ \hline & 11/1/99 & 0.662576 & 0.1945064 & 0.1929457 & 0.014395 & 0.001561 \\ \hline & 12/1/99 & 0.898186 & 0.1321306 & 0.1302239 & 0.032296 & 0.001907 \\ \hline & 1/1/00 & 0.709219 & -0.102586 & -0.104363 & -0.02109 & 0.001777 \\ \hline & 2/1/00 & 1.224689 & 0.2372455 & 0.235382 & 0.010512 & 0.001863 \\ \hline & 3/1/00 & 1.616674 & 0.1205966 & 0.1185602 & 0.022016 & 0.002036 \\ \hline & 4/1/00 & 1.705476 & 0.0232232 & 0.02123 & -0.02872 & 0.001993 \\ \hline & 5/1/00 & 2.18387 & 0.1073812 & 0.1052151 & -0.01963 & 0.002166 \\ \hline & 6/1/00 & 2.432635 & 0.0468502 & 0.0451165 & 0.019698 & 0.001734 \\ \hline & 7/1/00 & 2.296292 & -0.02505 & -0.027129 & -0.01104 & 0.00208 \\ \hline & 8/1/00 & 3.037804 & 0.1215326 & 0.1193666 & 0.029506 & 0.002166 \\ \hline & 9/1/00 & 3.133482 & 0.0134675 & 0.0112582 & -0.02434 & 0.002209 \\ \hline & 10/1/00 & 2.378218 & 30.119776 & -0.122201 & -0.01216 & 0.002425 \\ \hline & 11/1/00 & 1.549998 & 30.185921 & -0.18813 & -0.04925 & 0.002209 \\ \hline & 12/1/00 & 1.253991 & 10.092037 & -0.094203 & 0.005138 & 0.002166 \\ \hline & 1/1/01 & 1.975769 & 0.1974417 & 0.1951029 & 0.013385 & 0.002339 \\ \hline & 2/1/01 & 1.71026 & -0.062674 & -0.064321 & -0.046 & 0.001647 \\ \hline & 3/1/01 & 2.48466 & 50.1622048 & 0.1603846 & -0.03273 & 0.00182 \\ \hline & 5/1/01 & 3.276427 & 0,0118796 & 0.0104921 & 0.003116 & 0.001388 \\ \hline & 6/1/01 & 13.549685 & 50.0347893 & 0.033575 & -0.00851 & 0.001214 \\ \hline & 7/1/01 & \begin{tabular}{|c|} \end{tabular} .096168 & -0.059365 & -0.060666 & -0.00935 & 0.001301 \\ \hline & 8/1/01 & 3.241983 & 0.0199862 & 0.018642 & -0.029 & 0.001344 \\ \hline & 9/1/01 & 2.102639 & -0.188046 & -0.18926 & -0.04215 & 0.001214 \\ \hline & 10/1/01 & 13.280637 & 70.1931935 & 0.1922391 & 0.010554 & 0.000954 \\ \hline & 11/1/01 & 14.182315 & 50.1054586 & 0.1047209 & 0.03157 & 0.000738 \\ \hline 3 & 12/1/01 & 5.120732 & 20.0879153 & 0.0872644 & 0.006894 & 0.000651 \\ \hline & 1/1/02 & 5.031943 & 30.007596 & -0.008204 & -0.0063 & 0.000608 \\ \hline 40 & 2/1/02 & 3.904463 & 30.110174 & -0.110739 & 0.01006 & 0.000564 \\ \hline 41 & 3/1/02 & 3.395451 & -0.060664 & -0.061228 & 0.018034 & 0,000564 \\ \hline 42 & 4/1/02 & 2.664465 & -0.105287 & -0.105938 & -0.02319 & 0.000651 \\ \hline 43 & 5/1/02 & 2.561131 & -0.017178 & -0.017786 & -0.00604 & 0.000608 \\ \hline 44 & 6/1/02 & 1.31501 & -0.289503 & -0.290067 & -0.0325 & 0.000564 \\ \hline \end{tabular}

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