Returns of 10 Shares for 3 Years

Month AAF.N0000 AAIC.N0000 ABAN.N0000 AGST.N0000 ARPI.N0000 AFSL.N0000

Nov-15 0.00% -8.00% 0.49% -3.03% -17.58% -0.26%

Dec-15 6.06% -4.88% -5.46% -1.55% 3.88% 3.56%
Jan-16 -12.52% -7.80% -12.07% -15.15% -18.18% -7.26%
Feb-16 -6.90% -4.14% -6.90% -5.61% 1.24% 13.32%
Mar-16 -7.41% 6.15% -0.81% -12.26% -8.00% -10.67%
Apr-16 14.31% 19.22% 17.24% 16.03% 4.88% -1.58%
May-16 6.45% 4.28% 1.06% -3.77% 11.01% 41.60%
Jun-16 0.00% 3.60% -7.71% -10.11% -7.94% -32.46%
Jul-16 0.00% 14.98% -0.41% 2.11% 5.05% 22.12%
Aug-16 -6.45% -2.20% 3.12% 17.19% -8.66% -10.88%
Sep-16 6.45% 2.20% -7.27% -3.57% -0.43% -1.31%
Oct-16 0.00% -5.36% -1.71% -7.55% -6.57% -3.35%
Nov-16 -6.45% -12.18% -9.96% -6.06% 2.53% -25.20%
Dec-16 -6.90% 7.00% -4.78% 0.00% 0.00% -12.44%
Jan-17 0.00% 1.44% -0.10% 6.06% 8.12% -4.05%
Feb-17 -7.41% 3.28% -6.08% -1.98% 0.00% -3.15%
Mar-17 0.00% -10.69% -6.48% -15.08% -16.52% -15.36%
Apr-17 14.31% 6.45% 12.86% 15.08% 8.52% 16.77%
May-17 6.45% 5.61% 2.75% 0.00% -0.56% 5.46%
Jun-17 0.00% 4.45% -5.07% -2.02% -11.22% -3.72%
Jul-17 -6.45% -1.75% -1.34% 0.00% -6.52% -9.02%
Aug-17 6.45% -0.44% -1.46% -4.17% 12.58% -5.43%
Sep-17 -13.35% -2.25% 0.00% 6.19% 0.00% -0.40%
Oct-17 6.90% 0.45% -4.73% 0.00% -12.52% 1.98%
Nov-17 -6.90% -9.49% -4.39% -4.08% 6.45% -6.06%
Dec-17 0.00% 4.38% -2.92% 4.08% -6.45% -3.82%
Jan-18 0.00% 4.65% -3.98% 0.00% 0.00% 0.00%
Feb-18 0.00% 3.13% 5.04% 0.00% -2.70% -0.43%
Mar-18 0.00% -0.44% -1.30% 0.00% -2.08% -7.68%
Apr-18 -7.41% 6.01% 2.00% -2.02% 10.42% 8.11%
May-18 -16.71% 1.65% 0.00% -10.76% -1.72% -14.91%
Jun-18 0.00% -8.55% -11.05% -14.66% -3.86% 5.38%
Jul-18 0.00% 10.98% -2.63% 2.60% -1.41% -6.90%
Aug-18 -9.53% 0.80% -6.90% 2.53% 12.68% -3.11%
Sep-18 0.00% 3.51% 1.42% -22.31% -5.19% -10.54%
Oct-18 0.00% 16.88% 1.40% 22.31% -5.48% 17.65%
Mean -1.31% 1.47% -1.89% -1.43% -1.56% -1.78%

Excess Return Matrix

1.31% -9.47% 2.38% -1.60% -16.02% 1.52%
7.37% -6.35% -3.57% -0.12% 5.45% 5.34%
-11.21% -9.27% -10.18% -13.72% -16.62% -5.48%
 -5.59% -5.61% -5.01% -4.18% 2.80% 15.10%
-6.11% 4.67% 1.09% -10.83% -6.44% -8.89%
15.62% 17.75% 19.13% 17.47% 6.44% 0.20%
7.76% 2.81% 2.95% -2.34% 12.57% 43.38%
1.31% 2.13% -5.82% -8.68% -6.38% -30.68%
1.31% 13.51% 1.49% 3.54% 6.61% 23.90%
-5.15% -3.67% 5.01% 18.62% -7.10% -9.10%
7.76% 0.73% -5.38% -2.14% 1.13% 0.47%
1.31% -6.83% 0.18% -6.12% -5.01% -1.57%
-5.15% -13.65% -8.07% -4.63% 4.10% -23.42%
-5.59% 5.53% -2.89% 1.43% 1.56% -10.66%
1.31% -0.03% 1.79% 7.50% 9.68% -2.28%
-6.11% 1.81% -4.19% -0.55% 1.56% -1.37%
1.31% -12.16% -4.58% -13.65% -14.96% -13.58%
15.62% 4.98% 14.75% 16.52% 10.08% 18.55%
7.76% 4.14% 4.65% 1.43% 1.00% 7.24%
1.31% 2.97% -3.18% -0.59% -9.66% -1.94%
-5.15% -3.22% 0.56% 1.43% -4.96% -7.24%
7.76% -1.91% 0.43% -2.73% 14.14% -3.65%
-12.05% -3.72% 1.89% 7.62% 1.56% 1.38%
8.20% -1.02% -2.83% 1.43% -10.96% 3.76%
-5.59% -10.96% -2.49% -2.65% 8.02% -4.28%
1.31% 2.91% -1.02% 5.52% -4.89% -2.04%
1.31% 3.18% -2.09% 1.43% 1.56% 1.78%
1.31% 1.66% 6.94% 1.43% -1.14% 1.34%
1.31% -1.91% 0.60% 1.43% -0.51% -5.90%
-6.11% 4.54% 3.89% -0.59% 11.98% 9.89%
-15.40% 0.18% 1.89% -9.33% -0.15% -13.13%
1.31% -10.02% -9.16% -13.23% -2.29% 7.16%
1.31% 9.51% -0.74% 4.03% 0.15% -5.12%
-8.23% -0.67% -5.01% 3.96% 14.24% -1.33%
1.31% 2.04% 3.31% -20.88% -3.63% -8.76%
1.31% 15.41% 3.29% 23.75% -3.92% 19.42%

Inverse of Excess Return Matrix

1.31% 0.0736802782 -0.112107487 -0.055937215 -0.061052316 0.1561565
-9.47% -0.063493903 -0.09266528 -0.056088955 0.0467490406 0.1775025774
2.38% -0.035687065 -0.101817413 -0.050068666 0.0108560305 0.1912954311
-0.015977206 -0.001176043 -0.137221755 -0.041761323 -0.108274179 0.1746707936
-0.160161392 0.05445296 -0.166189085 0.0279971859 -0.064429581 0.0644032908
0.0151989181 0.0534134193 -0.054784451 0.1509815563 -0.088882319 0.0019547764
0.0119879009 0.0070979156 -0.145428069 0.1349312871 -0.044195379 0.0227640323
-0.048945755 -0.000686246 -0.128504262 -0.008558507 -0.041877045 0.1477530448
0.0030544059 0.0538326005 -0.099669501 -0.032841935 -0.04022343 0.198336455
0.0114551542 -0.052623702 -0.113707989 -0.084688706 0.0205876378 0.2877085308
 Variance Covariance Matrix
0.1736549694 0.0612997624 0.06609364 0.0672550807 0.0347519578 0.1173221636
0.0612997624 0.1886478431 0.0870043441 0.1250320004 0.0572372566 0.1129560977
0.06609364 0.0870043441 0.1199827638 0.1101963752 0.0462995759 0.0843954443
0.0672550807 0.1250320004 0.1101963752 0.3061513446 0.0768437991 0.1428918062
0.0347519578 0.0572372566 0.0462995759 0.0768437991 0.2326722939 0.141346268
0.1173221636 0.1129560977 0.0843954443 0.1428918062 0.141346268 0.6049331861
0.0664679024 0.0335570547 0.0675349898 0.0305335788 -0.004674443 0.1383199596
0.0606808356 0.0771416738 0.0714780299 0.1088213495 0.0386910672 0.1026116366
0.0867405822 0.0683902768 0.0975122875 0.1248689488 0.018024196 0.085020887
0.0647746512 0.1030278868 0.1056270765 0.133705975 0.038724878 0.0668513175

Inverse of Variance Covariance Matrix

0.0048237491 0.0017027712 0.0018359344 0.0018681967 0.0009653322 0.003258949
0.0017027712 0.0052402179 0.0024167873 0.0034731111 0.0015899238 0.0031376694
0.0018359344 0.0024167873 0.0033328546 0.0030610104 0.0012860993 0.0023443179
0.0018681967 0.0034731111 0.0030610104 0.008504204 0.00213455 0.0039692168
0.0009653322 0.0015899238 0.0012860993 0.00213455 0.0064631193 0.0039262852
0.003258949 0.0031376694 0.0023443179 0.0039692168 0.0039262852 0.0168036996
0.0018463306 0.0009321404 0.0018759719 0.000848155 -0.000129846 0.0038422211
0.0016855788 0.0021428243 0.0019855008 0.0030228153 0.0010747519 0.0028503232
0.0024094606 0.0018997299 0.0027086747 0.0034685819 0.0005006721 0.0023616913
0.0017992959 0.0028618857 0.0029340855 0.0037140549 0.0010756911 0.001856981

RF rate1 -3%

329.9532547 -34.97479654 1.0431466076 39.650900889 -20.2273758 -27.51948786

-34.97479654 359.69791806 -148.2255416 -52.86851548 -1.346462834 -24.00597798
1.0431466076 -148.2255416 1149.2746279 -34.12220005 -125.1073743 34.448638423
39.650900889 -52.86851548 -34.12220005 246.0547566 -26.29764331 -19.05441303
-20.2273758 -1.346462834 -125.1073743 -26.29764331 213.84861783 -46.13940395
-27.51948786 -24.00597798 34.448638423 -19.05441303 -46.13940395 93.45509305
-28.1280918 21.631020594 -207.3595324 37.047081743 55.897674103 -44.40229547
-31.44435023 -75.233974 20.297183702 -88.68255134 -23.8245466 -23.98274334
-165.4912251 110.60152753 -336.1702547 -113.2837044 90.005461861 -7.862070098
2.6913485786 -96.12296285 -351.1090346 -31.54532016 23.732381093 15.172424874

RF rate2 -5%
0.004823749 0.0017027712 0.0018359344 0.0018681967 0.0009653322 0.003258949 0.0018463306
0.001702771 0.0052402179 0.0024167873 0.0034731111 0.0015899238 0.0031376694 0.0009321404
0.001835934 0.0024167873 0.0033328546 0.0030610104 0.0012860993 0.0023443179 0.0018759719
0.001868197 0.0034731111 0.0030610104 0.008504204 0.00213455 0.0039692168 0.000848155
0.000965332 0.0015899238 0.0012860993 0.00213455 0.0064631193 0.0039262852 -0.000129846
0.003258949 0.0031376694 0.0023443179 0.0039692168 0.0039262852 0.0168036996 0.0038422211
0.001846331 0.0009321404 0.0018759719 0.000848155 -0.000129846 0.0038422211 0.0067287402
0.001685579 0.0021428243 0.0019855008 0.0030228153 0.0010747519 0.0028503232 0.0016034424
0.002409461 0.0018997299 0.0027086747 0.0034685819 0.0005006721 0.0023616913 0.0016383048
0.001799296 0.0028618857 0.0029340855 0.0037140549 0.0010756911 0.001856981 0.0006435509

Weights Transpose
0.198763897 0.9938655299 -77.52% -7.09% 0.1882699912 -0.208703826 0.4746427021
0.160395597 0.5492707304 -38.22% -7.58% 0.2257373201 -0.150595528 0.3309965042

Efficient PF
A B
Rp 0.0275277324 0.85%
Varp 0.0054489528 0.28%
STD 0.0738170227 0.0524621394
CovPa,Pb 0.0036471601
corr 0.9417861771

Mean Varience Frontier

A B STD Mean

-1.7 2.70 4.83% -0.023833187

-1.55 2.55 4.64% -0.020979803
-1.4 2.40 4.50% -0.018126418
-1.25 2.25 4.40% -0.015273034
-1.1 2.10 4.34% -0.01241965
-0.95 1.95 4.32% -0.009566265
-0.8 1.80 4.36% -0.006712881
-0.65 1.65 4.44% -0.003859496
-0.5 1.50 4.57% -0.001006112
-0.35 1.35 4.73% 0.0018472725
 -0.2 1.20 4.93% 0.004700657
-0.05 1.05 5.16% 0.0075540414
0.1 0.90 5.42% 0.0104074258
0.25 0.75 5.71% 0.0132608103
0.4 0.60 6.01% 0.0161141947
0.55 0.45 6.33% 0.0189675791
0.7 0.30 6.67% 0.0218209636
1 0.00 7.38% 0.0275277324
1.15 -0.15 7.75% 0.0303811168
1.3 -0.30 8.13% 0.0332345013
1.45 -0.45 8.52% 0.0360878857
1.6 -0.60 8.91% 0.0389412701
1.9 -0.90 9.71% 0.044648039
2.05 -1.05 10.12% 0.0475014234
2.2 -1.20 10.53% 0.0503548078
2.5 -1.50 11.36% 0.0560615767
2.65 -1.65 11.77% 0.0589149611 0.08
2.8 -1.80 12.20% 0.0617683456
3.1 -2.10 13.04% 0.0674751144 0.06
3.25 -2.25 13.47% 0.0703284989

0.04

0.02

0
0.00% 2.00%

-0.02

-0.04
Years
AGAL.N0000 AHPL.N0000 AHUN.N0000 AMSL.N0000

0.49% -6.00% -2.24% 0.00%

0.00% -1.18% 2.83% -6.41%
-15.25% -13.96% -12.52% -12.52%
12.78% -1.96% -5.83% -9.61%
-5.13% -5.30% -6.57% 0.91%
1.57% 13.67% 17.28% 27.63%
13.09% 0.36% -4.88% -2.80%
-7.06% -4.27% -10.54% -6.60%
-1.97% 4.27% -4.55% -0.76%
3.42% 5.31% 2.68% 5.21%
-9.05% 3.22% -9.91% -6.74%
5.13% 0.00% -2.32% -3.15%
-7.80% -8.53% -6.38% -12.78%
-5.56% 3.57% -2.07% -1.83%
0.00% 0.00% -3.78% -3.77%
-2.31% -3.57% -8.02% -2.93%
4.01% 0.90% -8.44% -9.33%
5.47% 5.78% 12.78% 6.32%
4.17% 1.02% 0.25% 3.02%
-4.70% 1.01% -5.38% -2.00%
16.25% -8.70% -5.68% -1.02%
-1.83% -5.61% -10.26% -1.03%
-2.82% 5.43% -2.82% 6.97%
-6.39% -4.09% 0.32% 5.61%
-7.92% -0.57% -5.20% -1.83%
9.43% 0.76% -1.68% -2.82%
-6.19% 1.13% 3.33% 6.45%
-1.07% -0.56% 1.30% -7.41%
-6.10% -5.62% 8.08% -1.94%
2.82% 7.11% -4.58% 2.90%
-11.78% -7.51% -6.12% -1.92%
-3.17% -2.63% -1.00% -1.96%
3.17% -5.70% -6.23% 0.99%
-22.31% -11.75% -11.33% -2.99%
15.86% -3.23% 0.80% -4.12%
5.20% 7.30% 6.90% 1.05%
-0.71% -1.11% -2.55% -1.15%

1.20% -4.89% 0.31% 1.15%

0.71% -0.07% 5.38% -5.26%
-14.54% -12.85% -9.97% -11.37%
 13.49% -0.86% -3.28% -8.47%
-4.42% -4.19% -4.02% 2.06%
2.28% 14.78% 19.83% 28.77%
13.80% 1.47% -2.33% -1.65%
-6.35% -3.16% -7.99% -5.45%
-1.26% 5.38% -2.00% 0.39%
4.13% 6.42% 5.23% 6.35%
-8.34% 4.33% -7.36% -5.60%
5.84% 1.11% 0.23% -2.00%
-7.09% -7.43% -3.83% -11.64%
-4.85% 4.68% 0.48% -0.69%
0.71% 1.11% -1.23% -2.63%
-1.60% -2.46% -5.47% -1.78%
4.72% 2.01% -5.89% -8.19%
6.18% 6.88% 15.33% 7.46%
4.88% 2.12% 2.80% 4.16%
-3.99% 2.11% -2.83% -0.85%
16.96% -7.59% -3.14% 0.13%
-1.13% -4.50% -7.71% 0.12%
-2.11% 6.54% -0.27% 8.11%
-5.68% -2.98% 2.87% 6.75%
-7.21% 0.54% -2.65% -0.69%
10.14% 1.87% 0.87% -1.67%
-5.48% 2.24% 5.88% 7.60%
-0.36% 0.55% 3.85% -6.27%
-5.39% -4.51% 10.63% -0.80%
3.53% 8.22% -2.03% 4.04%
-11.07% -6.40% -3.57% -0.78%
-2.47% -1.53% 1.55% -0.82%
3.88% -4.59% -3.68% 2.13%
-21.60% -10.64% -8.78% -1.84%
16.57% -2.12% 3.35% -2.98%
5.91% 8.41% 9.45% 2.19%

turn Matrix
0.0775941775 0.0130556564 0.0130556564 -0.051482865 0.07759418 0.0130556564 0.1561565
0.0280835366 0.021289864 0.1351085396 -0.036682645 0.00727517 -0.0682879847 0.049834783
0.0294744161 -0.058186772 0.0148674045 0.0501392245 -0.0537905 0.0018297718 0.147482937
-0.023412185 -0.086767973 0.0353815527 0.1861784004 -0.0213899 -0.061179409 0.165151033
0.1257242451 -0.0637584 0.0661364993 -0.07095489 0.01134873 -0.0500656455 0.100807973
0.4338334591 -0.30682677 0.2389861577 -0.091038981 0.00468562 -0.0157364504 0.185478488
0.138035273 -0.063519652 -0.012607156 0.0413310872 -0.0834161 0.05839121 0.061756328
0.0147314816 -0.031629239 0.05380622 0.0641983157 0.04332198 0.0110884904 0.068847325
-0.023296522 -0.079866874 -0.019968732 0.0522638832 -0.0735973 0.0023103067 0.153327014
-0.016518698 -0.054502814 0.0038505548 0.0635115161 -0.0559861 -0.0200435129 0.074634056
ce Matrix
0.0664679024 0.0606808356 0.0867405822 0.0647746512
0.0335570547 0.0771416738 0.0683902768 0.1030278868
0.0675349898 0.0714780299 0.0975122875 0.1056270765
0.0305335788 0.1088213495 0.1248689488 0.133705975
-0.004674443 0.0386910672 0.018024196 0.038724878
0.1383199596 0.1026116366 0.085020887 0.0668513175
0.2422346483 0.0577239272 0.0589789732 0.0231678329
0.0577239272 0.1152203273 0.0790771847 0.0841434704
0.0589789732 0.0790771847 0.1493714189 0.1070771361
0.0231678329 0.0841434704 0.1070771361 0.170870589

variance Matrix Mean R

0.0018463306 0.0016855788 0.0024094606 0.0017992959 -0.0130556564
0.0009321404 0.0021428243 0.0018997299 0.0028618857 0.0147037386
0.0018759719 0.0019855008 0.0027086747 0.0029340855 -0.0189242052
0.000848155 0.0030228153 0.0034685819 0.0037140549 -0.0143281435
-0.000129846 0.0010747519 0.0005006721 0.0010756911 -0.0156131267
0.0038422211 0.0028503232 0.0023616913 0.001856981 -0.0177862416
0.0067287402 0.0016034424 0.0016383048 0.0006435509 -0.0070979156
0.0016034424 0.0032005646 0.0021965885 0.0023373186 -0.0110884904
0.0016383048 0.0021965885 0.0041492061 0.0029743649 -0.0254936421
0.0006435509 0.0023373186 0.0029743649 0.0047464053 -0.0114551542
Weights of Efficient P1
R-CA z

-28.1280918 -31.44435023 -165.4912251 2.6913485786 2% 2.098464902

21.631020594 -75.233974 110.60152753 -96.12296285 4% 10.49281063
-207.3595324 20.297183702 -336.1702547 -351.1090346 1% -8.184626781
37.047081743 -88.68255134 -113.2837044 -31.54532016 2% -0.748589854
55.897674103 -23.8245466 90.005461861 23.732381093 1% 1.987674696
-44.40229547 -23.98274334 -7.862070098 15.172424874 1% -2.20340646
243.48497357 -89.32685818 -0.243282989 112.64535432 2% 5.011076286
-89.32685818 696.41999852 -106.3038501 -135.3049957 2% 2.439592073
-0.243282989 -106.3038501 754.93948398 -145.5266442 0% -3.472365058
112.64535432 -135.3049957 -145.5266442 640.58983534 2% 3.136945328
10.55757576

Weights of Efficient P2
R-CA z
4% 3.409531371
6% 11.67585533
3% -8.125233598
4% -1.610622025
 3% 4.798501259
3% -3.201211167
4% 7.035997155
4% 5.291858327
2% -1.859056221
4% 3.841393062
21.25701349

Mean Wa Wb
0.0016855788 0.0024094606 0.0017992959 -0.0130557 0.1987638971 0.160395597
0.0021428243 0.0018997299 0.0028618857 0.01470374 0.9938655299 0.54927073
0.0019855008 0.0027086747 0.0029340855 -0.0189242 -0.7752373241 -0.382237778
0.0030228153 0.0034685819 0.0037140549 -0.0143281 -0.0709054683 -0.07576897
0.0010747519 0.0005006721 0.0010756911 -0.0156131 0.1882699912 0.22573732
0.0028503232 0.0023616913 0.001856981 -0.0177862 -0.2087038265 -0.150595528
0.0016034424 0.0016383048 0.0006435509 -0.0070979 0.4746427021 0.330996504
0.0032005646 0.0021965885 0.0023373186 -0.0110885 0.2310750241 0.248946463
0.0021965885 0.0041492061 0.0029743649 -0.0254936 -0.3288979532 -0.087456134
0.0023373186 0.0029743649 0.0047464053 -0.0114552 0.2971274276 0.180711795

0.2310750241 -0.328897953 0.2971274276

0.2489464632 -0.087456134 0.1807117949

Individual Assets CML

STD Mean Std Mean

AAF.N0000 0.0694532155 -1.31% 0.00% -3.00% 0.00%

AAIC.N0000 0.0723893491 1.47% 5.00% 0.90% 5.25%
ABAN.N0000 0.0577308804 -1.89% 6.00% 1.68% 7.38%
AGST.N0000 0.0922182412 -1.43% 7.00% 2.46% 12.00%
ARPI.N0000 0.0803935276 -1.56%
AFSL.N0000 0.1296290848 -1.78%
AGAL.N0000 0.0820288987 -0.71%
AHPL.N0000 0.0565735331 -1.11%
AHUN.N0000 0.0644143313 -2.55%
AMSL.N0000 0.0688941598 -1.15%
 SML

4%

3%

2%
SML
1% Mark

0%
0 0.2 0.4 0.6 0.8 1 1.2
-1%

-2%
0.08
-3%

0.06 -4%

0.04 Efficient Frontier

Individual Stocks
CML
0.02

0
0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00%

-0.02

-0.04
0.0775941775 0.013056 -0.05148 0.077594 -0.12048 0.082049 -0.05594 0.013056 0.013056 0.013056
0.041385728 0.029748 -0.03225 -0.01914 -0.03718 -0.01017 -0.10956 0.029099 0.031816 0.016619
0.0464579012 -0.03181 0.00557 0.004341 0.018924 -0.02835 -0.02493 -0.01023 -0.02091 0.069355
0.0143281435 -0.00587 0.014328 -0.02734 0.076204 0.014328 -0.02649 0.05515 0.014328 0.014328
0.0100420816 -0.0966 -0.04959 0.141443 0.015613 -0.10955 0.080152 -0.04893 0.015613 -0.01142
0.0724073261 -0.01944 -0.07236 -0.03649 0.013794 0.037589 -0.04284 -0.02043 0.017786 0.013448
0.048770612 -0.03991 0.169617 -0.01125 -0.02107 -0.05681 -0.0721 0.101409 -0.05478 -0.0036
0.0212408618 0.021139 -0.07592 -0.045 0.065358 -0.02981 0.00538 0.018693 0.022388 0.005455
0.0279905223 -0.0283 -0.03136 -0.07709 -0.00268 0.028663 -0.02647 0.008687 0.05883 0.038523
0.0416081924 -0.00855 0.001303 0.001199 0.081135 0.067545 -0.00689 -0.01672 0.075994 -0.06265
s of Efficient P1
W

0.1987638971
0.9938655299
-0.775237324
-0.070905468
0.1882699912
-0.208703826
0.4746427021
0.2310750241
-0.328897953
0.2971274276

s of Efficient P2
W
0.1603955971
0.5492707304
-0.382237778
-0.07576897
0.2257373201
-0.150595528
0.3309965042
0.2489464632
-0.087456134
0.1807117949
1

SML
Stocks Cov(I,m) Beta R
0 0 -3%
-3.00% AAF.N0000 0.001605 0.294542 -0.01306
0.85% AAIC.N000 0.004234 0.777082 0.014704
2.75% ABAN.N00 0.001049 0.19253 -0.01892
6.35% AGST.N000 0.001484 0.272423 -0.01433
ARPI.N000 0.001363 0.250086 -0.01561
AFSL.N000 0.001157 0.212311 -0.01779
AGAL.N0000.002169 0.398105 -0.0071
AHPL.N0000.001791 0.328737 -0.01109
AHUN.N00 0.000427 0.078334 -0.02549
AMSL.N00 0.001757 0.322364 -0.01146
 Pa,M 0.005449 1 0.027528
Pb 0.003647 0.669332 0.85%

SML
Market PF

1 1.2

Efficient Frontier
Individual Stocks
CML

14.00% 16.00%
0.013056 -0.06105 -0.154 0.013056 0.013056 -0.08225 0.013056 0.013056
-0.01912 0.0454 0.001826 -0.10023 0.095111 -0.00674 0.020388 0.154117
0.00596 0.03889 0.018924 -0.09162 -0.00739 -0.05007 0.033109 0.03291
0.014328 -0.00587 -0.0933 -0.13228 0.040304 0.039646 -0.20882 0.237472
-0.00515 0.119784 -0.00155 -0.02294 0.001524 0.142365 -0.03631 -0.03915
-0.059 0.098912 -0.13133 0.071589 -0.05121 -0.0133 -0.08757 0.194243
-0.05386 0.035269 -0.11069 -0.02465 0.038847 -0.21605 0.165703 0.059058
-0.04507 0.082204 -0.06402 -0.01526 -0.04595 -0.10642 -0.02121 0.084114
0.106283 -0.02032 -0.03572 0.015477 -0.03681 -0.08784 0.033462 0.094487
-0.00796 0.040443 -0.00778 -0.00815 0.021307 -0.0184 -0.02979 0.021926