Using the data in the tab called "stock data" calculate the returns for the monthly price data. Find the average return, standard deviation, and the Sharpe ratio for each of the return series. Why does the MSFT data have more volatility than the SP 500 data? Why is the adjusted MSFT average return more than the MSFT average return? If $100 is invested at the beginning of the data, in the SP500, MSFT, and adjusted MSFT, how much would be in each at the end of the data?

1 Date SP 500_MSFT Adj MSFT 2 2/1/2015 2104.5 43.85 39.36671 3 3/1/2015 2067.89 40.66 36.76264 4 4/1/2015 2085.51 48.64 43.97774 5 5/1/2015 2107.39 46.86 42.36836 6 6/1/2015 2063.11 44.15 40.17754 7 7/1/2015 2103.84 46.7 42.4981 8 8/1/2015 1972.18 43.52 39.60423 9/1/2015 1920.03 44.26 40.54325 10 10/1/2015 2079.36 52.64 48.21954 11 11/1/2015 2080.41 54.35 49.78592 12 12/1/2015 2043.94 55.48 51.16359 13 1/1/2016 1940.24 55.09 50.80394 14 2/1/2016 1932.23 50.88 46.92148 15 3/1/2016 2059.74 55.23 51.29874 16 4/1/2016 2065.3 49.87 46.32026 17 5/1/2016 2096.95 53 49.22746 18 6/1/2016 2098.86 51.17 47.86015 19 7/1/2016 2173.6 56.68 53.01374 20 8/1/2016 2170.95 57.46 53.7433 21 9/1/2016 2168.27 57.6 54.21002 22 10/1/2016 2126.15 59.92 56.39348 23 11/1/2016 2198.81 60.26 56.71347 24 12/1/2016 2238.83 62.14 58.8779 25 1/1/2017 2278.87 64.65 61.25614 26 2/1/2017 2363.64 63.98 60.62132 3/1/2017 2362.72 65.86 62.78093 28 4/1/2017 2384.2 68.46 65.25936 29 5/1/2017 2411.8 69.84 66.57487 30 6/1/2017 2423.41 68.93 66.08405 31| 7/1/2017 2470.3 | 32| 8/1/2017 2471.65 | 33] 9/1/2017 2519.36 | 34 | 10/1/2017 2575.26 | 35 11/1/2017 2584.84 | 36 12/1/2017 2673.61 | 37 1/1/2018 2823.81 | 38 2/1/2018 2713.83 | 39| 3/1/2018 2640.87 40 4/1/2018 2648.05 | 41| 5/1/2018 2705.27 42 6/1/2018 2718.37 43 7/1/2018 2816.29 44] 8/1/2018 2901.52 145] 9/1/2018 2913.98 46| 10/1/2018 2711.74 47 11/1/2018 2760.17 48| 12/1/2018 2506.85 49| 1/1/2019 2704.1 50 2/1/2019 2784.49 51 3/1/2019 2834.4 52 4/1/2019 2945.83 | 53 5/1/2019 2752.06 54 | 6/1/2019 2941.76 55 7/1/2019 2980.38 56 8/1/2019 2926.46 57 9/1/2019 2976.74 58| 10/1/2019 3037.56 59 | 11/1/2019 3140.98 60 | 12/1/2019 3230.78 61| 1/1/2020 3276.24 72.7 69.69839 74.77 71.68291 74.49 71.79497 | 83.18 80.17058 4.17 81.12474 85.54 82.85923 95.01 92.03246 93.7 90.8313 91.27 8.82495 93.52 91.01467 98.84 96.19215 98.61 96.38429 106.08 103.6857 112.33 109.7946 114.37 112.2188 106.81 104.801 110.89 108.8042 101.57 100.0901 104.43 102.9084 112.03 110.3977 117.94 116.7179 130.6 129.2467 123.68 122.3984 133.96 133.0626 136.27 135.3572 137.86 136.9365 139.03 138.5585 143.37 142.8838 151.38 150.8666 157.7 157.7 165.46 165.46 1 Date SP 500_MSFT Adj MSFT 2 2/1/2015 2104.5 43.85 39.36671 3 3/1/2015 2067.89 40.66 36.76264 4 4/1/2015 2085.51 48.64 43.97774 5 5/1/2015 2107.39 46.86 42.36836 6 6/1/2015 2063.11 44.15 40.17754 7 7/1/2015 2103.84 46.7 42.4981 8 8/1/2015 1972.18 43.52 39.60423 9/1/2015 1920.03 44.26 40.54325 10 10/1/2015 2079.36 52.64 48.21954 11 11/1/2015 2080.41 54.35 49.78592 12 12/1/2015 2043.94 55.48 51.16359 13 1/1/2016 1940.24 55.09 50.80394 14 2/1/2016 1932.23 50.88 46.92148 15 3/1/2016 2059.74 55.23 51.29874 16 4/1/2016 2065.3 49.87 46.32026 17 5/1/2016 2096.95 53 49.22746 18 6/1/2016 2098.86 51.17 47.86015 19 7/1/2016 2173.6 56.68 53.01374 20 8/1/2016 2170.95 57.46 53.7433 21 9/1/2016 2168.27 57.6 54.21002 22 10/1/2016 2126.15 59.92 56.39348 23 11/1/2016 2198.81 60.26 56.71347 24 12/1/2016 2238.83 62.14 58.8779 25 1/1/2017 2278.87 64.65 61.25614 26 2/1/2017 2363.64 63.98 60.62132 3/1/2017 2362.72 65.86 62.78093 28 4/1/2017 2384.2 68.46 65.25936 29 5/1/2017 2411.8 69.84 66.57487 30 6/1/2017 2423.41 68.93 66.08405 31| 7/1/2017 2470.3 | 32| 8/1/2017 2471.65 | 33] 9/1/2017 2519.36 | 34 | 10/1/2017 2575.26 | 35 11/1/2017 2584.84 | 36 12/1/2017 2673.61 | 37 1/1/2018 2823.81 | 38 2/1/2018 2713.83 | 39| 3/1/2018 2640.87 40 4/1/2018 2648.05 | 41| 5/1/2018 2705.27 42 6/1/2018 2718.37 43 7/1/2018 2816.29 44] 8/1/2018 2901.52 145] 9/1/2018 2913.98 46| 10/1/2018 2711.74 47 11/1/2018 2760.17 48| 12/1/2018 2506.85 49| 1/1/2019 2704.1 50 2/1/2019 2784.49 51 3/1/2019 2834.4 52 4/1/2019 2945.83 | 53 5/1/2019 2752.06 54 | 6/1/2019 2941.76 55 7/1/2019 2980.38 56 8/1/2019 2926.46 57 9/1/2019 2976.74 58| 10/1/2019 3037.56 59 | 11/1/2019 3140.98 60 | 12/1/2019 3230.78 61| 1/1/2020 3276.24 72.7 69.69839 74.77 71.68291 74.49 71.79497 | 83.18 80.17058 4.17 81.12474 85.54 82.85923 95.01 92.03246 93.7 90.8313 91.27 8.82495 93.52 91.01467 98.84 96.19215 98.61 96.38429 106.08 103.6857 112.33 109.7946 114.37 112.2188 106.81 104.801 110.89 108.8042 101.57 100.0901 104.43 102.9084 112.03 110.3977 117.94 116.7179 130.6 129.2467 123.68 122.3984 133.96 133.0626 136.27 135.3572 137.86 136.9365 139.03 138.5585 143.37 142.8838 151.38 150.8666 157.7 157.7 165.46 165.46