Compare the corresponding signs on the estimated coefficients on all the factors in

both regressions (i.e. for consumer goods and health portfolio regressions). What

does this comparison suggest about the average characteristics of stocks in the

consumer good and health industries? (Hint: For example, are stocks in the

consumer goods industry value stocks on average, etc?)

Dependent Variable: CNSMR_RF lethod: Least Squares Date: 10/12/20 Time: 21:44 ample: 1980M01 2020M02 ncluded observations: 482 Dependent Variable: HLTH_RF Method: Least Squares Date: 10/12/20 Time: 22:58 Sample: 1980MO1 2020MO2 Included observations: 482 Variable Coefficient Std. Error Variable Coefficient Prob. Prob. Std. Error t-Statistic 1-Statistic MKT RF HML SMB RMW -0.027729 0.938284 0.083440 0.144266 0.506804 0.080438 0.019079 0.027715 0.028393 0.037285 -0.344724 49.17871 3.010647 5.081122 13.59282 0.258451 0.811645 -0.195928 -0.152520 0.262202 0.137378 0.032585 0.047334 0.048491 0.063678 1.881320 24.90876 -4.139293 -3.145316 4.117637 0.060! 0.0001 0.000 0.001 0.000 -squared djusted R-squared F.E. of regression Cum squared resid og likelihood -statistic rob(F-statistic) 0.844354 Mean dependent var 0.843049 S.D. dependent var 1.698139 Akalke info criterion 1375.514 Schwarz criterion -936.6503 Hannan-Quinn criter. 646.9106 Durbin-Watson stat 0.000000 0.7305 0.0000 MKT_RF 0.0027 HML 0.0000 SMB 0.0000 RMW 0.787801 R-squared 4286381 Adjusted R-squared 3.907263 S.E. of regression 3.950602 Sum squared resid 3.924296 Log likelihood 1.848213 F-statistic Prob(F-statistic) 0.602260 Mean dependent var 0.598925 S.D. dependent var 2.900214 Akalke info criterion 4012.161 Schwarz criterion - 1194.641 Hannan-Quinn criter 180.5692 Durbin-Watson stat 0.000000 0.80543 4.57949 4.97776 5.02110 4.99479 2.04302