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I69 a. What is the Variance for the company and its value? (0.4 points) Value = 80% Q Excel File Edit View Insert Format Tools

I69	a. What is the Variance for the company and its value? (0.4 points)

	Value =

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80% Q Excel File Edit View Insert Format Tools Data Window Help AutoSave OFF BES 5 = Insert Draw Page Layout Formulas Data Review View Tell me Q Home Share Comments Insert Times New Roman 12 [G ab General 28 O V V Paste BIU av A. A V E ev Delete Format $ Sort & Sensitivity .U Find & Select Analyze Data Formatting as Table Styles Filter 116 X fx A B D E F K L M N 0 O " 8/1/20 1 Month# Date SPY Date 2 1 10/1/21 459.25 10/1/21 3 2 9/1/21 429.14 9/1/21 4 3 8/1/21 451.56 8/1/21 5 4 7/1/21 438.51 7/1/21 6 5 6/1/21 428.06 6/1/21 7 7 6 5/1/21 420.04 5/1/21 7 4/1/21 417.3 4/1/21 30623 9 8 3/1/21 396.33 3/1/21 10 9 int 2/1/21 380.36 2/1/21 a 11 10 1/1/21 370.07 1/1/21 12 11 12/1/20 373.88 12/1/20 13 12 11/1/20 362.06 11/1/20 .. UN we w 14 13 10/1/20 326.54 10/1/20 15 14 w 9/1/20 334.89 9/1/20 16 15 349.31 8/1/20 17 16 7/1/20 326.52 120 7/1/20 -20.34 m2 18 17 10 6/1/20 1120 308.36 10.30 6/1/20 120 19 18 13 5/1/20 304.32 5/1/20 WW2 01.24 20 19 20 *1/20 4/1/20 290.48 4/1/20 to wa 21 20 3/1/20 257.75 3/1/20 w 120 22 21 2/1/20 296.26 2/1/20 wa 23 22 1/1/20 22 321.73 1/1/20 we 120 24 23 12/1/19 12/1/19 4* 321.86 am 121.00 12 25 24 2 27 11/1/19 314.31 11/1/19 14.3 19 26 25 10/1/19 10/1/19 um 303.33 3.S my 27 26 9/1/19 4 296.77 9/1/19 !! 28 27 20 8/1/19 292.45 8/1/19 12172 29 28 7/1/19 297.43 7/1/19 2.43 30 29 6/1/19 293 6/1/19 31 30 5/1/19 275.27 5/1/19 w 13! 32 31 4/1/19 294.02 4/1/19 29.04 * 33 32 3/1/19 w 282.48 3/1/19 02.10 34 33 2/1/19 278.68 2/1/19 35 34 1/1/19 269.93 1/1/19 36 35 12/1/18 249.92 12/1/18 11.11.110 11 AMZN Mkt Returns Co. Returns Input Worksheet 3,372.43 7.016358% 2.660242% In the highlighted columns B & C copy a series of closing monthly 3285.04 -4.965010% -5.351808% values for the S&P. Do the same for your company in columns D&E. 3470.79 2.975987% 4.303415% This price series in columns C and E are then converted to a return 3327.59 2.441247% -3.272232% series in columns F and G for the S&P and for your company. w &. 3440.16 1.909342% 6.735504% 3223.07 0.656602% -7.047026% Note: The Market and Company Returns will be calculated automatically 3467.42 5.291045% 12.066268% ... 3094.08 4.198654% 0.037182% 3092.93 2.780555% -3.532843% TAN ce 3206.2 -1.019044% -1.557602% ORCE 3256.93 3.264652% 2.805836% % co 4242000 3168.04 10.877687% 4.343988% Sort Data in Descending Order 2014 en 3036.15 -2.493356% -3.575410% 1901 and Calculate Returns 3148.73 -4.128138% 7578570 -8.757853% cancer 3450.96 6.979664% 9.046096% % 3164.68 7.00 5.889220% 14.711362% 2758.82 1.327550% 12.956677% 30.04 2442 37 4.764528% -1.278496% *** 1.10432070 -1.210470% 2474 12.698351% 26,890015% 44/4 12.07033 20.0900137 1949.72 -12.998717% 3.502057% 1971 1883.75 -7.916576% -6.221375% 03.1 W.22 2008.72 -0.040390% 8.706382% 2070 1847.84 2.402087% 2.612172% Two 2012112 1800.8 3.619820% 1.358729% wa 1776.66 2.210466% 2.347472% 10.00 24/1/20 1735.91 1.477176% -2.273277% 1776.29 -1.674344% -4.847384% 0.22 2000 1866.78 . hennar 1.511945% -1.417912% 1893.63 6.440949% 6.679173% 20 0.1072 wa 1775.07 w -6.377117% -7.861325% . 1926.52 220.24 4.085245% WS 8.185877% 0.102/770 1780.75 8.593574% 1.363571% V. 17 0.2733 74% 1639,83 3.241581% 4.590599% 1718.73 8.006562% 14.431713% 1501.97 -9.334301% -11.134975% 160 17 105402102 de Enter 3 + 100% NOV 6 2 O 4) w Tools Data Window Help A 80% Tue 6:40 PM Q = Excel File Edit View Insert Format AutoSave OFF BES 5 = Home Insert Draw Page Layout Formulas Q Data Review View Tell me @ Share Comments Times New Roman 12 [G ab General Insert v 28-Ou V Delete v V Paste I U & vA. = = V $ Sort & AV % Sensitivity V Conditional Format Cell Formatting as Table Styles Format Find & Select Analyze Data Filter 116 X fx Xfx I J j K L M N 0 O 1.30 A 27 28 29 30 31 32 33 ve 34 35 36 37 38 39 3 +0 40 41 42 44 43 44 % 28 29 30 31 32 32 33 34 35 36 37 38 39 40 40 41 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 B 8/1/19 7/1/19 6/1/19 5/1/19 w 4/1/19 * 3/1/19 w 21 2/1/19 1/1/19 19 12/1/18 11/1/18 10/1/18 9/1/18 no 8/1/18 7/1/18 mo 6/1/18 5/1/18 4/1/18 3/1/18 2/1/18 1/1/18 12/1/17 11/1/17 10/1/17 9/1/17 8/1/17 7/1/17 6/1/17 5/1/17 4/1/17 3/1/17 2/1/17 1/1/17 12/1/16 11/1/16 10/1/16 292.45 297.43 293 43.2 275.27 294.02 24.04 282.48 204.46 -10.00 278.68 269.93 22 249.92 ***24 275.65 20 270.63 10.03 290.72 29.12 29.3 290.31 281.33 271.28 211.20 270.94 264.51 263.15 271.65 281.9 266.86 265.01 257.15 SU 251.23 247.49 246.77 !! 241.8 241.44 -17 238.08 235.74 236.47 2017! 227.53 223.53 220.38 212.55 D 8/1/19 7/1/19 6/1/19 5/1/19 w 4/1/19 3/1/19 2/1/19 1/1/19 12/1/18 11/1/18 10/1/18 9/1/18 8/1/18 7/1/18 6/1/18 01/18 5/1/18 4/1/18 3/1/18 2/1/18 1/1/18 12/1/17 11/1/17 10/1/17 9/1/17 . 8/1/17 7/1/17 6/1/17 5/1/17 4/1/17 3/1/17 2/1/17 w 1/1/17 12/1/16 11/1/16 10/1/16 E F G 1776.29 -1.674344% -4.847384% 1866.78 1.511945% -1.417912% 1893.63 6.440949% 6.679173% 1775.07 -6.377117% -7.861325% 1926.52 4.085245% 8.185877% 220.32 4.003243% 0.10307770 1780.75 1.363571% % 8.593574% 10. 0.393374% 1639.83 4 03.03 3.241581% 4.590599% 3.241501% 1.39057770 1718.73 8.006562% 14.431713% % 1501.97 -9.334301% -9.334301% -11.134975% 1690.17 1.854931% 5.7671739% 1.03793173.707173% 1598.01 -0.7104277 -20.2191/1% -6.910429% -20.219171% 2003 0.141228% -0.482434% 2012.71 3.191981% 13.236452% 1777.44 3.704659% 4.567596% 1699.8 0.125489% 4.306525% 1629.62 2.430910% 4.053942% 1566.13 0.516816% 8.207470% 1447.34 -3.129026% -4.304936% Wear 1512.45 -3.636041% 4.242913% 1450.89 5.635914% 24.063892% 1169.47 0.698087% -0,618653% V.Bacar 1176.75 3.056582% 6.466235% WW 1105.28 2.356406% 14.971654% 2017-2020 961.35 1.511172% -1.963084% 980.6 0.291770% -0.726883% 987.78 2.055418% 2.043388% 968 0.149105% -2.676399% 994.62 1.411290% 7.527649% 924.99 0.992619% 4.337086% 886.54 -0.308707% 4.911010% 845.04 3.929152% 2.618157% 823.48 1.789469% 9.816368% 749.87 1.429349% -0.093262% % 750.57 3.683839% -4.969487% 789.82 45 46 47 48 . 49 50 51 52 53 54 SS 56 57 58 59 60 61 64 Enter 31 + 100% NOV 2 O HA O ) w Data Window Window Help 77% Q = Excel File Edit View Insert Format Tools AutoSave OFF BES 5 = Insert Draw Page Layout Formulas Data Q os Home Review View Tell me Share Comments Insert v v Times New Roman 11 ab [G A v Custom = = = WE 0 7. D. DX Delete v V Paste BI D a A V $ % ) O V .00 2.0 .00 Sensitivity Conditional Format Cell Formatting as Table Styles Sort & Filter Format Find & Select Analyze Data J K L M N 0 AZ X fx =+'2.Calc. Returns'!B3 B B C D E F G 1 This spreadsheet calculates the Expected Returns, Variances, and Standard Deviations of 2 Return Series. 2 Page down to bottom for results 3 Distance 4 Market Company from Mean Variance(M) Variance(C) 5 Date Returns Returns (R, - E(R.)) ( RE(R))? (R-E(R)) (R-ER)) 6 Oct-21 0.07016 0.02660 0.05625 0.00316 -0.00095 0.00000 7 Sep-21! -0.04965 -0.05352 -0.06356 0.00404 -0.08107 0.00657 8 Aug-21 0.02976 0.04303 0.01585 0.00025 0.01548 0.00024 9 Jul-21 0.02441 -0.03272 0.01050 0.00011 -0.06028 0.00363 10 Jun-21 0.01909 0.06736 0.00518 0.00003 0.03980 0.00158 11 May-21 0.00657 -0.07047 -0.00734 0.00005 -0.09803 0.00961 12 Apr-21 0.05291 0.12066 0.03900 0.00152 0.09311 0.00867 13 Mar-21 0.04199 0.00037 0.02808 0.00079 -0.02718 0.00074 14 Feb-21 0.02781 -0.03533 0.01390 0.00019 -0.06288 0.00395 15 Jan-21 -0.01019 -0.01558 -0.02410 0.00058 -0.04313 0.00186 16 Dec-20 0.03265 0.02806 0.01874 0.00035 0.00050 0.00000 17 Nov-20 0.10878 0.04344 0.09487 0.00900 0.01588 0.00025 18 Oct-20 -0.02493 -0.03575 -0.03884 0.00151 -0.06331 0.00401 19 Sep-20 -0.04128 -0.08758 -0.05519 0.00305 -0.11513 0.01326 20 Aug-20 0.06980 0.09046 0.05589 0.00312 0.06290 0.00396 21 Jul-20 0.05889 0.14711 0.04498 0.00202 0.11956 0.01429 22 Jun-20 0.01328 0.12957 -0.00063 0.00000 0.10201 0.01041 23 May-20 0.04765 -0.01278 0.03374 0.00114 -0.04034 0.00163 24 Apr-20 0.12698 0.26890 0.11307 0.01279 0.24134 0.05825 25 Mar-20 -0.12999 0.03502 -0.14390 0.02071 0.00746 0.00006 26 Feb-20 -0.07917 -0.06221 -0.09308 0.00866 -0.08977 0.00806 27 Jan-20 -0.00040 0.08706 -0.01431 0.00020 0.05951 0.00354 28 Dec-19 0.02402 0.02612 0.01011 0.00010 -0.00143 0.00000 29 Nov-19 0.03620 0.01359 0.02229 0.00050 -0.01397 0.00020 30 Oct-19 0.02210 0.02347 0.00820 0.00007 -0.00408 0.00002 31 Sep-19 0.01477 -0.02273 0.00086 0.00000 -0.05029 0.00253 32 Aug-19 -0.01674 -0.04847 -0.03065 0.00094 -0.07603 0.00578 33 Jul-19 0.01512 -0.01418 0.00121 0.00000 -0.04174 0.00174 34 Jun-19 0.06441 0.06679 0.05050 0.00255 0.03924 0.00154 35 May-19 -0.06377 -0.07861 -0.07768 0.00603 -0.10617 0.01127 36 Apr-19 0.04085 0.08186 0.02694 0.00073 0.05430 0.00295 37 Mar-19 0.01364 0.08594 -0.00027 0.00000 0.05838 0.00341 38 Feb-19 0.03242 -0.04591 0.01851 0.00034 -0.07346 0.00540 39 Jan-19 0.08007 0.14432 0.06616 0.00438 0.11676 0.01363 40 Dec-18 -0,09334 -0.11135 -0.10725 0.01150 -0.13891 0.01929 41 Nov-18 0.01855 0.05767 0.00464 0.00002 0.03012 0.00091 Ready 3 100% NON 6 2 A 0 W X Tools Data Window Help 77% Tue 6:57 PM Q = Excel File Edit View Insert Format AutoSave OFF HES = Q Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Insert v v Times New Roman 11 v ab [G A Custom TH = = = E WE 7. D. FO Delete v V Paste BIU a. Av V $ %) O V .00 2.0 Conditional Format Cell Formatting as Table Styles Sort & Filter Sensitivity Format Find & Select Analyze Data AZ fx =+'2.Calc. Returns'!B3 D E F G I J K L M . N 0 O 0.04568 B 30 Oct-19 0.02210 0.02347 31 Sep-19 0.01477 -0.02273 32 Aug-19 -0.01674 -0.04847 33 Jul-19 0.01512 -0.01418 34 Jun-19 0.06441 0.06679 35 May-19 -0.06377 -0.07861 36 Apr-19 0.04085 0.08186 37 Mar-19 0.01364 0.08594 38 Feb-19 0.03242 -0.04591 39 Jan-19 0.08007 0.14432 40 Dec-18 -0.09334 -0.11135 41 Nov-18 0.01855 0.05767 42 Oct-18 -0.06910 -0.20219 43 Sep-18 0.00141 -0.00482 44 Aug-18 0.03192 0.13236 45 Jul-18 0.03705 46 Jun-18 0.00125 0.04307 47 May-18 0.02431 0.04054 48 Apr-18 0.00517 0.08207 49 Mar-18 -0.03129 -0.04305 50 Feb-18 -0,03636 0.04243 51 Jan-18 0.05636 0.24064 52 Dec-17 0.00698 -0.00619 53 Nov-17 0.03057 0.06466 54 Oct-17 0.02356 0.14972 55 Sep-17 0.01511 -0.01963 56 Aug-17 0.00292 -0.00727 57 Jul-17 0.02055 0.02043 58 Jun-17 0.00149 -0.02676 59 May-17 0.01411 0.07528 60 Apr-17 0.00993 0.04337 61 Mar-17 -0.00309 0.04911 62 Feb-17 0.03929 0.02618 63 Jan-17 0.01789 0.09816 64 Dec-16 0.01429 -0.00093 65 Nov-16 0.03684 -0.04969 66 Sums: 0.83456 1.65337 67 68 E(R): 69 Variance: 70 Standard Deviation: 71 0.00820 0.00086 -0.03065 0.00121 0.05050 -0.07768 0.02694 -0.00027 0.01851 0.06616 -0.10725 0.00464 -0.08301 -0.01250 0.01801 0.02314 -0.01265 0.01040 -0.00874 -0.04520 -0.05027 0.04245 -0.00693 0.01666 0.00965 0.00120 -0.01099 0.00664 -0.01242 0.00020 -0.00398 -0.01700 0.02538 0.00399 0.00038 0.02293 0.00007 0.00000 0.00094 0.00000 0.00255 0.00603 0.00073 0.00000 0.00034 0.00438 0.01150 0.00002 0.00689 0.00016 0.00032 0.00054 0.00016 0.00011 0.00008 0.00204 0.00253 0.00180 0.00005 0.00028 0.00009 0.00000 0.00012 0.00004 0.00015 0.00000 0.00002 0.00029 0.00064 0.00002 0.00000 0.00053 0.11730 Market 0.01391 0.00195 0.04421 -0.00408 -0.05029 -0.07603 -0.04174 0.03924 -0.10617 0.05430 0.05838 -0.07346 0.11676 -0.13891 0.03012 -0.22975 -0.03238 0.10481 0.01812 0.01551 0.01298 0.05452 -0.07061 0.01487 0.21308 -0.03374 0.03711 0.12216 -0.04719 -0.03482 -0.00712 -0.05432 0.04772 0.01581 0.02155 -0.00137 0.07061 -0.02840 -0.07725 0.00002 0.00253 0.00578 0.00174 0.00154 0.01127 0.00295 0.00341 0.00540 0.01363 0.01929 0.00091 0.05278 0.00105 0.01098 0.00033 0.00024 0.00017 0.00297 0.00499 0.00022 0.04540 0.00114 0.00138 0.01492 0.00223 0.00121 0.00005 0.00295 0.00228 0.00025 0.00046 0.00000 0.00499 0.00081 0.00597 0.38101 Company 0.02756 0.00635 0.07969 Ready 3 100% NON 6 2 O A 0 W X 80% Q Excel File Edit View Insert Format Tools Data Window Help AutoSave OFF BES 5 = Insert Draw Page Layout Formulas Data Review View Tell me Q Home Share Comments Insert Times New Roman 12 [G ab General 28 O V V Paste BIU av A. A V E ev Delete Format $ Sort & Sensitivity .U Find & Select Analyze Data Formatting as Table Styles Filter 116 X fx A B D E F K L M N 0 O " 8/1/20 1 Month# Date SPY Date 2 1 10/1/21 459.25 10/1/21 3 2 9/1/21 429.14 9/1/21 4 3 8/1/21 451.56 8/1/21 5 4 7/1/21 438.51 7/1/21 6 5 6/1/21 428.06 6/1/21 7 7 6 5/1/21 420.04 5/1/21 7 4/1/21 417.3 4/1/21 30623 9 8 3/1/21 396.33 3/1/21 10 9 int 2/1/21 380.36 2/1/21 a 11 10 1/1/21 370.07 1/1/21 12 11 12/1/20 373.88 12/1/20 13 12 11/1/20 362.06 11/1/20 .. UN we w 14 13 10/1/20 326.54 10/1/20 15 14 w 9/1/20 334.89 9/1/20 16 15 349.31 8/1/20 17 16 7/1/20 326.52 120 7/1/20 -20.34 m2 18 17 10 6/1/20 1120 308.36 10.30 6/1/20 120 19 18 13 5/1/20 304.32 5/1/20 WW2 01.24 20 19 20 *1/20 4/1/20 290.48 4/1/20 to wa 21 20 3/1/20 257.75 3/1/20 w 120 22 21 2/1/20 296.26 2/1/20 wa 23 22 1/1/20 22 321.73 1/1/20 we 120 24 23 12/1/19 12/1/19 4* 321.86 am 121.00 12 25 24 2 27 11/1/19 314.31 11/1/19 14.3 19 26 25 10/1/19 10/1/19 um 303.33 3.S my 27 26 9/1/19 4 296.77 9/1/19 !! 28 27 20 8/1/19 292.45 8/1/19 12172 29 28 7/1/19 297.43 7/1/19 2.43 30 29 6/1/19 293 6/1/19 31 30 5/1/19 275.27 5/1/19 w 13! 32 31 4/1/19 294.02 4/1/19 29.04 * 33 32 3/1/19 w 282.48 3/1/19 02.10 34 33 2/1/19 278.68 2/1/19 35 34 1/1/19 269.93 1/1/19 36 35 12/1/18 249.92 12/1/18 11.11.110 11 AMZN Mkt Returns Co. Returns Input Worksheet 3,372.43 7.016358% 2.660242% In the highlighted columns B & C copy a series of closing monthly 3285.04 -4.965010% -5.351808% values for the S&P. Do the same for your company in columns D&E. 3470.79 2.975987% 4.303415% This price series in columns C and E are then converted to a return 3327.59 2.441247% -3.272232% series in columns F and G for the S&P and for your company. w &. 3440.16 1.909342% 6.735504% 3223.07 0.656602% -7.047026% Note: The Market and Company Returns will be calculated automatically 3467.42 5.291045% 12.066268% ... 3094.08 4.198654% 0.037182% 3092.93 2.780555% -3.532843% TAN ce 3206.2 -1.019044% -1.557602% ORCE 3256.93 3.264652% 2.805836% % co 4242000 3168.04 10.877687% 4.343988% Sort Data in Descending Order 2014 en 3036.15 -2.493356% -3.575410% 1901 and Calculate Returns 3148.73 -4.128138% 7578570 -8.757853% cancer 3450.96 6.979664% 9.046096% % 3164.68 7.00 5.889220% 14.711362% 2758.82 1.327550% 12.956677% 30.04 2442 37 4.764528% -1.278496% *** 1.10432070 -1.210470% 2474 12.698351% 26,890015% 44/4 12.07033 20.0900137 1949.72 -12.998717% 3.502057% 1971 1883.75 -7.916576% -6.221375% 03.1 W.22 2008.72 -0.040390% 8.706382% 2070 1847.84 2.402087% 2.612172% Two 2012112 1800.8 3.619820% 1.358729% wa 1776.66 2.210466% 2.347472% 10.00 24/1/20 1735.91 1.477176% -2.273277% 1776.29 -1.674344% -4.847384% 0.22 2000 1866.78 . hennar 1.511945% -1.417912% 1893.63 6.440949% 6.679173% 20 0.1072 wa 1775.07 w -6.377117% -7.861325% . 1926.52 220.24 4.085245% WS 8.185877% 0.102/770 1780.75 8.593574% 1.363571% V. 17 0.2733 74% 1639,83 3.241581% 4.590599% 1718.73 8.006562% 14.431713% 1501.97 -9.334301% -11.134975% 160 17 105402102 de Enter 3 + 100% NOV 6 2 O 4) w Tools Data Window Help A 80% Tue 6:40 PM Q = Excel File Edit View Insert Format AutoSave OFF BES 5 = Home Insert Draw Page Layout Formulas Q Data Review View Tell me @ Share Comments Times New Roman 12 [G ab General Insert v 28-Ou V Delete v V Paste I U & vA. = = V $ Sort & AV % Sensitivity V Conditional Format Cell Formatting as Table Styles Format Find & Select Analyze Data Filter 116 X fx Xfx I J j K L M N 0 O 1.30 A 27 28 29 30 31 32 33 ve 34 35 36 37 38 39 3 +0 40 41 42 44 43 44 % 28 29 30 31 32 32 33 34 35 36 37 38 39 40 40 41 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 B 8/1/19 7/1/19 6/1/19 5/1/19 w 4/1/19 * 3/1/19 w 21 2/1/19 1/1/19 19 12/1/18 11/1/18 10/1/18 9/1/18 no 8/1/18 7/1/18 mo 6/1/18 5/1/18 4/1/18 3/1/18 2/1/18 1/1/18 12/1/17 11/1/17 10/1/17 9/1/17 8/1/17 7/1/17 6/1/17 5/1/17 4/1/17 3/1/17 2/1/17 1/1/17 12/1/16 11/1/16 10/1/16 292.45 297.43 293 43.2 275.27 294.02 24.04 282.48 204.46 -10.00 278.68 269.93 22 249.92 ***24 275.65 20 270.63 10.03 290.72 29.12 29.3 290.31 281.33 271.28 211.20 270.94 264.51 263.15 271.65 281.9 266.86 265.01 257.15 SU 251.23 247.49 246.77 !! 241.8 241.44 -17 238.08 235.74 236.47 2017! 227.53 223.53 220.38 212.55 D 8/1/19 7/1/19 6/1/19 5/1/19 w 4/1/19 3/1/19 2/1/19 1/1/19 12/1/18 11/1/18 10/1/18 9/1/18 8/1/18 7/1/18 6/1/18 01/18 5/1/18 4/1/18 3/1/18 2/1/18 1/1/18 12/1/17 11/1/17 10/1/17 9/1/17 . 8/1/17 7/1/17 6/1/17 5/1/17 4/1/17 3/1/17 2/1/17 w 1/1/17 12/1/16 11/1/16 10/1/16 E F G 1776.29 -1.674344% -4.847384% 1866.78 1.511945% -1.417912% 1893.63 6.440949% 6.679173% 1775.07 -6.377117% -7.861325% 1926.52 4.085245% 8.185877% 220.32 4.003243% 0.10307770 1780.75 1.363571% % 8.593574% 10. 0.393374% 1639.83 4 03.03 3.241581% 4.590599% 3.241501% 1.39057770 1718.73 8.006562% 14.431713% % 1501.97 -9.334301% -9.334301% -11.134975% 1690.17 1.854931% 5.7671739% 1.03793173.707173% 1598.01 -0.7104277 -20.2191/1% -6.910429% -20.219171% 2003 0.141228% -0.482434% 2012.71 3.191981% 13.236452% 1777.44 3.704659% 4.567596% 1699.8 0.125489% 4.306525% 1629.62 2.430910% 4.053942% 1566.13 0.516816% 8.207470% 1447.34 -3.129026% -4.304936% Wear 1512.45 -3.636041% 4.242913% 1450.89 5.635914% 24.063892% 1169.47 0.698087% -0,618653% V.Bacar 1176.75 3.056582% 6.466235% WW 1105.28 2.356406% 14.971654% 2017-2020 961.35 1.511172% -1.963084% 980.6 0.291770% -0.726883% 987.78 2.055418% 2.043388% 968 0.149105% -2.676399% 994.62 1.411290% 7.527649% 924.99 0.992619% 4.337086% 886.54 -0.308707% 4.911010% 845.04 3.929152% 2.618157% 823.48 1.789469% 9.816368% 749.87 1.429349% -0.093262% % 750.57 3.683839% -4.969487% 789.82 45 46 47 48 . 49 50 51 52 53 54 SS 56 57 58 59 60 61 64 Enter 31 + 100% NOV 2 O HA O ) w Data Window Window Help 77% Q = Excel File Edit View Insert Format Tools AutoSave OFF BES 5 = Insert Draw Page Layout Formulas Data Q os Home Review View Tell me Share Comments Insert v v Times New Roman 11 ab [G A v Custom = = = WE 0 7. D. DX Delete v V Paste BI D a A V $ % ) O V .00 2.0 .00 Sensitivity Conditional Format Cell Formatting as Table Styles Sort & Filter Format Find & Select Analyze Data J K L M N 0 AZ X fx =+'2.Calc. Returns'!B3 B B C D E F G 1 This spreadsheet calculates the Expected Returns, Variances, and Standard Deviations of 2 Return Series. 2 Page down to bottom for results 3 Distance 4 Market Company from Mean Variance(M) Variance(C) 5 Date Returns Returns (R, - E(R.)) ( RE(R))? (R-E(R)) (R-ER)) 6 Oct-21 0.07016 0.02660 0.05625 0.00316 -0.00095 0.00000 7 Sep-21! -0.04965 -0.05352 -0.06356 0.00404 -0.08107 0.00657 8 Aug-21 0.02976 0.04303 0.01585 0.00025 0.01548 0.00024 9 Jul-21 0.02441 -0.03272 0.01050 0.00011 -0.06028 0.00363 10 Jun-21 0.01909 0.06736 0.00518 0.00003 0.03980 0.00158 11 May-21 0.00657 -0.07047 -0.00734 0.00005 -0.09803 0.00961 12 Apr-21 0.05291 0.12066 0.03900 0.00152 0.09311 0.00867 13 Mar-21 0.04199 0.00037 0.02808 0.00079 -0.02718 0.00074 14 Feb-21 0.02781 -0.03533 0.01390 0.00019 -0.06288 0.00395 15 Jan-21 -0.01019 -0.01558 -0.02410 0.00058 -0.04313 0.00186 16 Dec-20 0.03265 0.02806 0.01874 0.00035 0.00050 0.00000 17 Nov-20 0.10878 0.04344 0.09487 0.00900 0.01588 0.00025 18 Oct-20 -0.02493 -0.03575 -0.03884 0.00151 -0.06331 0.00401 19 Sep-20 -0.04128 -0.08758 -0.05519 0.00305 -0.11513 0.01326 20 Aug-20 0.06980 0.09046 0.05589 0.00312 0.06290 0.00396 21 Jul-20 0.05889 0.14711 0.04498 0.00202 0.11956 0.01429 22 Jun-20 0.01328 0.12957 -0.00063 0.00000 0.10201 0.01041 23 May-20 0.04765 -0.01278 0.03374 0.00114 -0.04034 0.00163 24 Apr-20 0.12698 0.26890 0.11307 0.01279 0.24134 0.05825 25 Mar-20 -0.12999 0.03502 -0.14390 0.02071 0.00746 0.00006 26 Feb-20 -0.07917 -0.06221 -0.09308 0.00866 -0.08977 0.00806 27 Jan-20 -0.00040 0.08706 -0.01431 0.00020 0.05951 0.00354 28 Dec-19 0.02402 0.02612 0.01011 0.00010 -0.00143 0.00000 29 Nov-19 0.03620 0.01359 0.02229 0.00050 -0.01397 0.00020 30 Oct-19 0.02210 0.02347 0.00820 0.00007 -0.00408 0.00002 31 Sep-19 0.01477 -0.02273 0.00086 0.00000 -0.05029 0.00253 32 Aug-19 -0.01674 -0.04847 -0.03065 0.00094 -0.07603 0.00578 33 Jul-19 0.01512 -0.01418 0.00121 0.00000 -0.04174 0.00174 34 Jun-19 0.06441 0.06679 0.05050 0.00255 0.03924 0.00154 35 May-19 -0.06377 -0.07861 -0.07768 0.00603 -0.10617 0.01127 36 Apr-19 0.04085 0.08186 0.02694 0.00073 0.05430 0.00295 37 Mar-19 0.01364 0.08594 -0.00027 0.00000 0.05838 0.00341 38 Feb-19 0.03242 -0.04591 0.01851 0.00034 -0.07346 0.00540 39 Jan-19 0.08007 0.14432 0.06616 0.00438 0.11676 0.01363 40 Dec-18 -0,09334 -0.11135 -0.10725 0.01150 -0.13891 0.01929 41 Nov-18 0.01855 0.05767 0.00464 0.00002 0.03012 0.00091 Ready 3 100% NON 6 2 A 0 W X Tools Data Window Help 77% Tue 6:57 PM Q = Excel File Edit View Insert Format AutoSave OFF HES = Q Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Insert v v Times New Roman 11 v ab [G A Custom TH = = = E WE 7. D. FO Delete v V Paste BIU a. Av V $ %) O V .00 2.0 Conditional Format Cell Formatting as Table Styles Sort & Filter Sensitivity Format Find & Select Analyze Data AZ fx =+'2.Calc. Returns'!B3 D E F G I J K L M . N 0 O 0.04568 B 30 Oct-19 0.02210 0.02347 31 Sep-19 0.01477 -0.02273 32 Aug-19 -0.01674 -0.04847 33 Jul-19 0.01512 -0.01418 34 Jun-19 0.06441 0.06679 35 May-19 -0.06377 -0.07861 36 Apr-19 0.04085 0.08186 37 Mar-19 0.01364 0.08594 38 Feb-19 0.03242 -0.04591 39 Jan-19 0.08007 0.14432 40 Dec-18 -0.09334 -0.11135 41 Nov-18 0.01855 0.05767 42 Oct-18 -0.06910 -0.20219 43 Sep-18 0.00141 -0.00482 44 Aug-18 0.03192 0.13236 45 Jul-18 0.03705 46 Jun-18 0.00125 0.04307 47 May-18 0.02431 0.04054 48 Apr-18 0.00517 0.08207 49 Mar-18 -0.03129 -0.04305 50 Feb-18 -0,03636 0.04243 51 Jan-18 0.05636 0.24064 52 Dec-17 0.00698 -0.00619 53 Nov-17 0.03057 0.06466 54 Oct-17 0.02356 0.14972 55 Sep-17 0.01511 -0.01963 56 Aug-17 0.00292 -0.00727 57 Jul-17 0.02055 0.02043 58 Jun-17 0.00149 -0.02676 59 May-17 0.01411 0.07528 60 Apr-17 0.00993 0.04337 61 Mar-17 -0.00309 0.04911 62 Feb-17 0.03929 0.02618 63 Jan-17 0.01789 0.09816 64 Dec-16 0.01429 -0.00093 65 Nov-16 0.03684 -0.04969 66 Sums: 0.83456 1.65337 67 68 E(R): 69 Variance: 70 Standard Deviation: 71 0.00820 0.00086 -0.03065 0.00121 0.05050 -0.07768 0.02694 -0.00027 0.01851 0.06616 -0.10725 0.00464 -0.08301 -0.01250 0.01801 0.02314 -0.01265 0.01040 -0.00874 -0.04520 -0.05027 0.04245 -0.00693 0.01666 0.00965 0.00120 -0.01099 0.00664 -0.01242 0.00020 -0.00398 -0.01700 0.02538 0.00399 0.00038 0.02293 0.00007 0.00000 0.00094 0.00000 0.00255 0.00603 0.00073 0.00000 0.00034 0.00438 0.01150 0.00002 0.00689 0.00016 0.00032 0.00054 0.00016 0.00011 0.00008 0.00204 0.00253 0.00180 0.00005 0.00028 0.00009 0.00000 0.00012 0.00004 0.00015 0.00000 0.00002 0.00029 0.00064 0.00002 0.00000 0.00053 0.11730 Market 0.01391 0.00195 0.04421 -0.00408 -0.05029 -0.07603 -0.04174 0.03924 -0.10617 0.05430 0.05838 -0.07346 0.11676 -0.13891 0.03012 -0.22975 -0.03238 0.10481 0.01812 0.01551 0.01298 0.05452 -0.07061 0.01487 0.21308 -0.03374 0.03711 0.12216 -0.04719 -0.03482 -0.00712 -0.05432 0.04772 0.01581 0.02155 -0.00137 0.07061 -0.02840 -0.07725 0.00002 0.00253 0.00578 0.00174 0.00154 0.01127 0.00295 0.00341 0.00540 0.01363 0.01929 0.00091 0.05278 0.00105 0.01098 0.00033 0.00024 0.00017 0.00297 0.00499 0.00022 0.04540 0.00114 0.00138 0.01492 0.00223 0.00121 0.00005 0.00295 0.00228 0.00025 0.00046 0.00000 0.00499 0.00081 0.00597 0.38101 Company 0.02756 0.00635 0.07969 Ready 3 100% NON 6 2 O A 0 W X