Benchmark	Risk Free	Portfolio 1	Portfolio 2
4.14%	0.49%	-0.73%	6.83%
27.79%	0.32%	35.41%	27.22%
-24.11%	0.36%	-27.54%	5.95%
-7.66%	0.37%	-11.31%	-13.99%
-19.06%	0.38%	-25.03%	-9.22%
-23.13%	0.50%	-27.82%	-7.14%
10.67%	0.40%	10.18%	3.68%
3.09%	0.36%	8.83%	3.57%
5.85%	0.50%	4.28%	22.77%
21.63%	0.51%	33.45%	4.04%
33.56%	0.41%	30.26%	18.29%
22.18%	0.46%	32.19%	9.30%
0.79%	0.46%	3.57%	0.23%
20.01%	0.43%	16.04%	1.84%
-14.18%	0.38%	-17.14%	-1.14%
9.06%	0.37%	8.59%	25.72%
-17.49%	0.48%	-22.32%	-24.86%
30.36%	0.44%	28.10%	6.67%
20.01%	0.38%	23.86%	17.22%
17.58%	0.51%	13.66%	-1.29%
19.05%	0.35%	22.22%	0.73%
5.03%	0.34%	6.01%	9.89%
10.72%	0.44%	8.01%	23.45%
15.95%	0.47%	17.78%	15.60%
21.57%	0.41%	21.07%	1.63%
25.31%	0.48%	22.87%	-2.92%
19.31%	0.47%	23.80%	28.89%
30.30%	0.38%	38.61%	13.50%
8.67%	0.47%	11.34%	5.78%
-7.18%	0.36%	-15.22%	8.65%
15.31%	0.34%	19.31%	9.90%
-6.76%	0.46%	-2.43%	-1.40%
-3.96%	0.40%	-7.77%	-1.61%
1.84%	0.34%	-0.18%	11.54%
16.34%	0.39%	15.43%	19.96%
-17.77%	0.41%	-17.35%	-2.97%
9.27%	0.32%	7.46%	1.28%

2. Use the returns in the tab of the Chapter 13 Excel Outboxes.xls spreadsheet to compute the following measures for each of the three portfolios: mean, standard deviation, beta, shortfall probability, expected shortfall, lower partial moment of degree 2, downside risk, VaR at the 5 percent level, alpha, Treynor ratio, Sharpe ratio, Sortino ratio, and M-squared. The riskless rate is 5 percent. For all measures that require a threshold or target level of return, set that level at 0 percent. 2. Use the returns in the tab of the Chapter 13 Excel Outboxes.xls spreadsheet to compute the following measures for each of the three portfolios: mean, standard deviation, beta, shortfall probability, expected shortfall, lower partial moment of degree 2, downside risk, VaR at the 5 percent level, alpha, Treynor ratio, Sharpe ratio, Sortino ratio, and M-squared. The riskless rate is 5 percent. For all measures that require a threshold or target level of return, set that level at 0 percent