TB3MS	3-Month Treasury Bill Secondary Market Rate, Discount Basis, Percent, Monthly, Not Seasonally Adjusted
Frequency: Monthly
observation_date	XLE	SPY	TB3MS
2017-09-01	52.984413	229.404907	1.03
2017-10-01	53.235332	235.975922	1.07
2017-11-01	54.168175	243.188705	1.23
2017-12-01	56.645344	244.886353	1.32
2018-01-01	59.066376	260.010223	1.41
2018-02-01	52.666531	250.556183	1.57
2018-03-01	53.195248	242.716187	1.70
2018-04-01	58.660378	244.947754	1.76
2018-05-01	60.416779	250.902206	1.86
2018-06-01	60.353199	251.217026	1.90
2018-07-01	61.705002	261.693573	1.96
2018-08-01	59.560696	270.046814	2.03
2018-09-01	60.600849	270.428192	2.13
2018-10-01	54.105343	252.880096	2.25
2018-11-01	53.25943	257.570801	2.33
2018-12-01	46.202213	233.528366	2.37
2019-01-01	51.862965	253.698868	2.37
2019-02-01	53.0583	261.922668	2.39
2019-03-01	53.765751	265.494263	2.40
2019-04-01	54.179245	277.557495	2.38
2019-05-01	48.163879	259.8573	2.35
2019-06-01	52.21236	276.594635	2.17
2019-07-01	51.853661	282.14212	2.10
2019-08-01	47.536663	277.418182	1.95
2019-09-01	48.959129	281.516083	1.89
2019-10-01	48.372028	289.067688	1.65
2019-11-01	49.148178	299.531433	1.54
2019-12-01	50.107948	306.72644	1.54
2020-01-01	46.381683	308.110016	1.52
2020-02-01	39.290764	283.718231	1.52
2020-03-01	25.221773	246.838455	0.29
2020-04-01	33.71899	279.818665	0.14
2020-05-01	34.393375	293.150757	0.13
2020-06-01	33.585888	297.042419	0.16
2020-07-01	32.380905	315.920074	0.13
2020-08-01	32.039391	337.970215	0.10
2020-09-01	26.916685	324.018372	0.11
2020-10-01	26.235901	317.204102	0.10
2020-11-01	33.580494	351.708588	0.09
2020-12-01	34.621899	363.190643	0.09
2021-01-01	36.399475	361.021942	0.08
2021-02-01	44.573616	371.060394	0.04
2021-03-01	45.416023	386.639893	0.03
2021-04-01	46.206619	408.430542	0.02
2021-05-01	48.844864	411.112305	0.02
2021-06-01	50.397869	418.961853	0.04
2021-07-01	46.678844	430.593903	0.05
2021-08-01	45.743195	443.408264	0.05
2021-09-01	49.230637	421.393036	0.04
2021-10-01	54.975193	452.404175	0.05
2021-11-01	52.220215	448.769196	0.05
2021-12-01	53.09071	467.879974	0.06
2022-01-01	63.874874	444.760498	0.15
2022-02-01	68.390312	431.632507	0.33
2022-03-01	74.068497	446.470734	0.44
2022-04-01	73.515068	408.549683	0.76
2022-05-01	85.302902	409.471893	0.98
2022-06-01	69.954262	374.090698	1.49
2022-07-01	77.574211	410.304535	2.23
2022-08-01	79.631783	393.563293	2.63
2022-09-01	71.243233	355.71875	3.13

Performance Metrics		XLE	SP500
Average
Sharpe Ratio
Treynor Ratio
Alpha
CML Expected Return
SML Expected Return
Cumulative Return
Risk Metrics		XLE	SP500
Standard Deviation
Beta
Arbitrage
Combine XLE and T-Bills so that the beta is equal to the SP500's Beta
w_XLE
w_T-Bills
R_P
R_SP500
Net Return from Arbitrage