Estimate the Sharpe ratio of S&P 500 and Hang Seng Index. Use the average U.S. Treasury bill rate as the estimate of the riskfree rate. Date 31-Jan-17 28-Feb-17 31-Mar-17 28-Apr-17 31-May-17 30-Jun-17 31-Jul-17 31-Aug-17 29-Sep-17 31-Oct-17 30-Nov-17 29-Dec-17 31-Jan-18 28-Feb-18 29-Mar-18 30-Apr-18 31-May-18 29-Jun-18 31-Jul-18 31-Aug-18 28-Sep-18 31-Oct-18 30-Nov-18 31-Dec-18 31-Jan-19 28-Feb-19 29-Mar-19 30-Apr-19 31-May-19 28-Jun-19 31-Jul-19 30-Aug-19 30-Sep-19 31-Oct-19 29-Nov-19 31-Dec-19 31-Jan-20 28-Feb-20 31-Mar-20 30-Apr-20 29-May-20 30-Jun-20 31-Jul-20 31-Aug-20 30-Sep-20 30-Oct-20 30-Nov-20 31-Dec-20 29-Jan-21 26-Feb-21 31-Mar-21 30-Apr-21 28-May-21 30-Jun-21 30-Jul-21 31-Aug-21 30-Sep-21 29-Oct-21 30-Nov-21 31-Dec-21 S&P500 T-bill Rate 1.79% 0.04% 3.72% 0.04% -0.04% 0.03% 0.91% 0.05% 1.16% 0.48% 1.93% 0.05% 1.93% 2.22% 2.81% 0.98% 5.62% -3.89% -2.69% 0.27% 2.16% 0.48% 3.60% 3.03% 0.43% -6.94% 1.79% -9.18% 7.87% 2.97% 1.79% 3.93% -6.58% 6.89% 1.31% -1.81% 1.72% 2.04% 3.40% 2.86% -0.16% -8.41% -12.51% 12.68% 4.53% 1.84% 5.51% 7.01% -3.92% -2.77% 10.75% 3.71% -1.11% 2.61% 4.24% 5.24% 0.55% 2.22% 2.27% 2.90% -4.76% 6.91% -0.83% 4.36% 0.06% 0.06% 0.07% 0.09% 0.09% 0.09% 0.08% 0.09% 0.11% 0.11% 0.12% 0.14% 0.14% 0.14% 0.16% 0.16% 0.15% 0.19% 0.18% 0.19% 0.21% 0.18% 0.19% 0.21% 0.21% 0.18% 0.19% 0.16% 0.18% 0.15% 0.12% 0.14% 0.13% 0.12% 0.12% 0.00% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.01% Hang Seng Index 6.18% 1.63% 1.56% 2.09% 4.25% 0.41% 6.05% 2.37% -1.49% 2.51% 3.30% 2.54% 9.92% -6.21% -2.44% 2.38% -1.10% -4.97% -1.29% -2.43% -0.36% -10.11% 6.11% -2.49% 8.11% 2.47% 1.46% 2.23% -9.42% 6.10% -2.68% -7.39% 1.43% 3.12% -2.08% 7.00% -6.66% -0.69% -9.67% 4.41% -6.83% 6.38% 0.69% 2.37% -6.82% 2.76% 9.27% 3.38% 3.87% 2.46% -2.08% 1.22% 1.49% -1.11% -9.94% -0.32% -5.04% 3.26% -7.49% -0.33%