DELL AAPL ate Price Returns 4/1/2022 44.35945 F G H NKLA Returns Price Returns SPY Returns Risk-free rate 7.18 Price 155.86876 5/1/2022 47.45435 0.0697687 147.15831 -0.055883 6/1/2022 43.91 -0.07469 135.37386 -0.08008 7/1/2022 42.81724 -0.024886 160.90994 0.1886338 8/1/2022 36.66625 -0.143657 155.67201 -0.032552 9/1/2022 32.72096 -0.1076 137.02937 -0.119756 10/1/2022 36.77159 0.1237929 152.04112 0.1095513 11/1/2022 43.30519 0.1776808 146.77609 -0.034629 12/1/2022 38.88669 -0.102032 129.04311 -0.120817 1/1/2023 39.27342 0.009945 143.30508 0.110521 2/1/2023 39.61128 0.0086026 146.40381 0.0216233 3/1/2023 39.19216 -0.010581 164.02449 0.1203567 4/1/2023 42.38914 0.0815718 168.7791 0.0289872 5/1/2023 44.05383 0.0392716 176.30891 0.0446134 6/1/2023 53.19688 0.2075429 193.20702 0.0958437 7/1/2023 52.02696 -0.021992 195.67726 0.0127855 8/1/2023 55.67556 0.070129 187.131 -0.043675 9/1/2023 68.2085 0.2251067 170.76685 -0.087448 10/1/2023 66.23846 -0.028883 170.32797- -0.00257 11/1/2023 75.53256 0.1403127 189.45831 0.1123147 12/1/2023 76.15975 0.0083036 192.28464 0.0149179 -0.042227 1/1/2024 82.51138 0.0833987 184.16499 399.353 7.06 -0.016713 400.254 0.00226 0.000366667 4.76 -0.325779 365.67 -0.08641 0.000633333 6.22 0.3067227 401.068 0.0968 0.000816667 5.36 -0.138264 384.704 -0.0408 0.001241667 3.52 -0.343284 347.711 -0.09616 0.001858333 3.79 0.0767045 377.516 0.08572 0.002191667 2.62 -0.308707 398.503 0.05559 0.002608333 2,16 -0.175573 373.821 -0.06194 0.0031 2.71 0.2546296 399.154 0.06777 0.003458333 2.22 -0.180812 389.119 -0.02514 0.003541667 1.21 -0.454955 402.012 0.03313 0.003783333 0.886 -0.267769 409.993 0.01985 0.003875 0.624 -0.295711 411.885 0.00462 0.003908333 1.38 1.2115385 436.952 0.06086 0.0041 2.67 0.9347826 452.932 0.03657 0.004283333 1.18 -0.558052 445.57 -0.01625 1.57 0.3305085 422.943 -0.05078 1.08 -0.312102 415.221 -0.01826 0.004416667 0.972 -0.1 453.149 0.09134 0.004433333 0.0043 0.004375 2/1/2024 3/1/2024 94.66 0.1472358 180.51965 111.68 0.1798013 -0.019794 173.31 -0.039938 3/27/2024 111.68 0 173.31 0 0.9091 0.875 -0.099794 471.924 0.04143 0.00445 0.747 -0.146286 481.384 0.02005 0.004391667 0.744 -0.004016 506.506 0.05219 0.004366667 52155 0.0297 0.909 0.2217742 0.00435 0.00011 523.17 0.00311 0.004366667 K L M N 0 P Q R S S&P DELL Average Variance Sigma 1.272% 0.280% 5.291% 4.409% 1.013% 10.065% AAPL NKLA 0.753% -1.629% 0.635% 16.154% Risk-free rate 0.330% 0.000% 7.971% 40.192% 0.134% DISCUSSION OF RESULTS: