E49 FEDEX AND S&P 500 Excess Excess S&P total FedEx 1-year return S&P return FedEx 500 Yearreturn return T-bill 2002. 2003 2004. 2005 2006 2007 2008: 2009 2010 2011 2012 2013 2014 -23 37% , 4.81% 26.38% 24.91% 899%, 46.40% 3.00% 5.33% 13.62% 540% 3.53%-17.61% -38.49%-27.67%: 23.45% 31.13% 12.78% 12.08% 0.00% -966% 13.41% 10.53% 29.60% 57.58% 11.39% 21.39% -2.17% 1.32% 1.26% 2.75% 438% 5.00% 3.34% 0.37% 0.47% 0.29% 0.12% : 13 15 17 Section b 19 0.16% | 0.13% 20 26 27 28 29 32 35 37 Section c. 38 Aggressive or definsive? 39 Since 40 41 Section d. 42 Sharpe ratio 43 Jensen's alpha