SPY SDS GBF ITBT 2008/7/2 -0.01714 0.03665 0.00167 -0.00969 SUMMARY OUTPUT - Regress SDS on SPY SUMMARY OUTPUT- Regress TBT on GBF 2008/7/3 0.00103 -0.00189 -0.00364 0.00423 2008/7/7 -0.01021 0.02201 0.00602 -0.00843 Regression Statistics Regression Statistics 2008/7/8 0.01776 -0.03722 -0.00059 -0.01349 Multiple F 0.99574 Multiple R 0.70798 2008/7/9 -0.01925 0.04177 0.00177 -0.01159 R Square 0.9915 R Square 0.50124 2008/7/10 0.00409 -0.00953 0.00176 0.00196 Adjusted F 0.99149 Adjusted R So 0.50108 2008/7/11 -0.01165 0.02369 -0.00567 0.02957 Standard | 0.00241 Standard Err( 0.01317 2008/7/14 -0.00904 0.01795 0.00383 -0.01968 Observati 3084 Observations 3084 2008/7/15 -0.0141 0.0248 0.00078 0.00164 2008/7/16 0.02455 -0.0453 -0.00509 0.03622 ANOVA ANOVA 2008/7/17 0.01 -0.02225 -0.00757 0.01289 df SS MS F ignificance F df SS MS F ignificance F 2008/7/18 0.00623 -0.0121 0.0004 0.0075 Regression 1 2.08165 2.08165 359332 0 Regression 1 0.53696 0.53696 3097.29 0 2008/7/21 0.00056 0.00146 0.00159 -0.00997 Residual 3082 0.01785 5.8E-06 Residual 3082 0.53431 0.00017 2008/7/22 0.01134 -0.02256 -0.00465 0.01262 Tota 3083 2.0995 Total 8083 1.07128 2008/7/23 0.00541 -0.01057 -0.0007 0.00434 2008/7/24 -0.02075 0.04395 0.00915 -0.02175 Coefficientsandard Em t Stat P-value Lower 95% Upper 95%ower 95.09/pper 95.0% Coefficientsandard Em t Stat P-value Lower 95% Upper 95%ower 95.09/pper 95.09 2008/7/25 -0.00024 -0.00303 -0.00384 0.01953 Intercept -3.6E-06 4.3E-05 -0.08352 0.93344 - -8.9E-05 8.1E-05 -8.9E-05 8.1E-05 Intercept -1.1E-05 0.00024 -0.04709 0.96244 -0.00048 0.00045 -0.00048 0.00045 2008/7/28 -0.01466 0.02965 9.9E-05 -0.01915 X Variable -1.95894 0.00327 -599.443 0 -1.96534 -1.95253 -1.96534 -1.95253 X Variable 1 -4.17021 0.07493 -55.6533 0 -4.31713 -4.02329 -4.31713 -4.02329 2008/7/29 0.02135 -0.0434 0.00257 0.00884 2008/7/30 0.01782 -0.03524 0.00178 -0.0041 2008/7/31 -0.01323 0.02678 0.00059 - -0.02029 2008/8/1 -0.00528 0.01082 0.00354 -0.00217 SDS vs SPY TBT vs GBF 2008/8/4 -0.00927 0.01906 -0.00157 0.00493 0.25 0.15 2008/8/5 0.02696 -0.05482 -0.00217 0.01762 0.2 2008/8/6 0.00444 -0.0067 -0.0003 0.0061 i . . 01 0.15 2008/8/7 -0.01489 0.0305 0.00346 -0.03343 0.1 2008/8/8 0.01858 -0.04075 -0.00177 -0.00569 2008/8/11 0.01036 -0.01891 - -0.00148 0.01644 O 2008/8/12 -0.0104 0.02007 0.00524 -0.01603 -0.15 -0.1 -0.05 0.05 01 0.15 -0.04 -0.03 -0.02 010 0 02 0.03 2008/8/13 -0.00603 0.0127 0.00049 0.0069 0.05 2008/8/14 0.00754 -0.01346 0.00147 -0.01457 -01 2008/8/15 0.00486 -0.0107 0.00196 -0.01434 0. 15 0.1 2008/8/18 -0.01367 0.02868 0.00078 -0.00975 -02 2008/8/19 -0.0109 0.02148 -0.00157 0.00924 -0.25 -0.15 2008/8/20 0.00465 -0.0085 0.00441 -0.0018 O- 2008/8/21 0.00172 -0.00301 -0.00341 -0.00075 2008/8/22 0.01448 -0.02641 -0.00117 -0.0006