Group No- 9

Name ID
Md. Mohiuddin Khan 16-025
Nasib Imroz 16-258
Titu Chowdhury 16-031
Amir Hamza Chowdhury 16-109
Azharul Islam 16-067
Md. Kofiluddin 16-043
Company name
Bay Leasing & Investment Ltd
BD. Autocars
AMCL PRAN This company is chosen by us instead of BDBUILDING. Because it was listed in Stock exchang
BDCOM Online Ltd
t was listed in Stock exchange in 2013 ( Data Unavailabilty)
 Face Value 10

Bay Leasing & Investment Ltd.

cash Stock
dividend dividend
adjusted no.of adjusted
Price Cash div price Stock Div stocks price
January 0 1 0
February 0 1 0
March 0 1 0
April 0 1 0
May 0 1 0
June 0 1 0
2003 July 0 1 0
August 0 1 0
September 0 1 0
October 0 1 0
November 0 1 0
December 0 1 0
January 0 1 0
February 0 1 0
March 0 1 0
April 0 1 0
May 0 1 0
June 0 1 0
2004 July 0 1 0
August 0 1 0
September 0 1 0
October 0 1 0
November 0 1 0
December 0 1 0
January 0 1 0
February 0 1 0
March 0 1 0
April 0 1 0
May 0 1 0
June 0 1 0
2005 July 0 1 0
August 0 1 0
September 0 1 0
October 0 1 0
November 0 1 0
December 0 1 0
January 0 1 0
 February 0 1 0
March 0 1 0
April 0 1 0
May 0 1 0
June 0 1 0
2006 July 0 1 0
August 0 1 0
September 0 1 0
October 0 1 0
November 0 1 0
December 0 1 0
January 0 1 0
February 0 1 0
March 0 1 0
April 0 1 0
May 0 1 0
June 0 1 0
2007 July 0 1 0
August 0 1 0
September 0 1 0
October 0 1 0
November 0 1 0
December 0 1 0
January 0 1 0
February 0 1 0
March 0 1 0
April 0 1 0
May 0 1 0
June 0 1 0
2008 July 0 1 0
August 0 1 0
September 0 1 0
October 0 1 0
November 0 1 0
December 0 1 0
January 0 1 0
February 0 1 0
March 0 1 0
April 722.75 722.75 1 722.75
May 856.25 856.25 1 856.25
June 886.25 886.25 1 886.25
2009 July 859.25 859.25 1 859.25
August 916.25 916.25 1 916.25
September 1,069.50 1069.5 1 1069.5
October 1,309.50 1309.5 1 1309.5
 November 1721.5 1721.5 1 1721.5
December 1721.5 1721.5 1 1721.5
January 1,663.50 1663.5 1 1663.5
February 1,764.75 1764.75 1 1764.75
March 1,728.75 1728.75 1 1728.75
April 1,431.75 1431.75 0.5 1.5 2147.625
May 1798 1798 1 1798
June 1833.25 1833.25 1 1833.25
2010 July 2,166.75 2166.75 1 2166.75
August 2,879.25 2879.25 1 2879.25
September 1,806.00 1806 1 1806
October 2,682.00 2682 1 2682
November 3,069.00 3069 1 3069
December 2,926.25 2926.25 1 2926.25
January 2,704.75 2704.75 1 2704.75
February 1,904.50 1904.5 1 1904.5
March 1,904.50 1904.5 1 1904.5
April 1,848.50 1848.5 1 1848.5
May 1,155.00 10 1165 0.55 1.55 1805.75
June 1,122.00 1122 1 1122
2011 July 1,077.00 1077 1 1077
August 1,023.00 1023 1 1023
September 884.50 884.5 1 884.5
October 681.50 681.5 1 681.5
November 710.50 710.5 1 710.5
December 70.10 70.1 1 70.1
January 49.2 49.2 1 49.2
February 58.5 58.5 1 58.5
March 61.9 61.9 1 61.9
April 55.2 1.5 56.7 0.2 1.2 68.04
May 49.9 49.9 1 49.9
June 44.9 44.9 1 44.9
2012 July 39 39 1 39
August 42.7 42.7 1 42.7
September 47 47 1 47
October 39.3 39.3 1 39.3
November 36.7 36.7 1 36.7
December 35.3 35.3 1 35.3

Mean
 10 10

BD. Autocars AMCL PRAN

cash Stock
Stock split dividend dividend
adjusted Average adjusted no.of adjusted Average
price Returns Price Cash div price Stock Div stocks price Return Price
0 53.50 0.2 53.70 1 53.7 353.50
0 #DIV/0! 49.00 49.00 1 49 -0.091593 354.75
0 #DIV/0! 41.00 41.00 1 41 -0.178248 337.50
0 #DIV/0! 62.25 62.25 1 62.25 0.417586 369.75
0 #DIV/0! 64.00 64.00 1 64 0.027725 389.00
0 #DIV/0! 60.00 60.00 1 60 -0.064539 416.25
0 #DIV/0! 58.00 58.00 1 58 -0.033902 399.25
0 #DIV/0! 50.50 50.50 1 50.5 -0.13847 401.00
0 #DIV/0! 59.25 59.25 1 59.25 0.159792 398.25
0 #DIV/0! 56.75 56.75 1 56.75 -0.04311 407.00
0 #DIV/0! 66.25 66.25 1 66.25 0.15478 417.25
0 #DIV/0! 58.00 58.00 1 58 -0.132992 425.50
0 #DIV/0! 61.00 61.00 1 61 0.050431 413.75
0 #DIV/0! 58.75 58.75 1 58.75 -0.037583 405.75
0 #DIV/0! 57.25 57.25 1 57.25 -0.025864 394.25
0 #DIV/0! 52.25 52.25 1 52.25 -0.091388 463.00
0 #DIV/0! 60.00 60.00 1 60 0.138305 451.50
0 #DIV/0! 60.00 60.00 1 60 0 517.00
0 #DIV/0! 58.50 58.50 1 58.5 -0.025318 554.25
0 #DIV/0! 59.00 59.00 1 59 0.008511 567.75
0 #DIV/0! 72.00 72.00 1 72 0.199129 726.75
0 #DIV/0! 55.00 0.3 55.30 1 55.3 -0.263893 635.25
0 #DIV/0! 54.25 54.25 1 54.25 -0.01917 620.25
0 #DIV/0! 48.25 48.25 1 48.25 -0.117207 591.50
0 #DIV/0! 50.25 50.25 1 50.25 0.040615 507.50
0 #DIV/0! 49.50 49.50 1 49.5 -0.015038 503.25
0 #DIV/0! 45.50 45.50 1 45.5 -0.08426 519.00
0 #DIV/0! 43.25 43.25 1 43.25 -0.050715 468.25
0 #DIV/0! 45.50 45.50 1 45.5 0.050715 513.25
0 #DIV/0! 43.50 43.50 1 43.5 -0.044951 514.50
0 #DIV/0! 39.00 39.00 1 39 -0.109199 455.25
0 #DIV/0! 40.75 40.75 1 40.75 0.043894 491.75
0 #DIV/0! 40.00 40.00 1 40 -0.018576 490.75
0 #DIV/0! 42.00 0.3 42.30 1 42.3 0.055908 470.50
0 #DIV/0! 38.00 38.00 1 38 -0.107201 433.00
0 #DIV/0! 35.00 35.00 1 35 -0.082238 400.75
0 #DIV/0! 41.00 41.00 1 41 0.158224 391.25
 0 #DIV/0! 49.00 49.00 1 49 0.178248 378.50
0 #DIV/0! 67 67.00 1 67 0.312872 377.25
0 #DIV/0! 59 59.00 1 59 -0.127155 372
0 #DIV/0! 57.75 57.75 1 57.75 -0.021414 377.00
0 #DIV/0! 52.00 52.00 1 52 -0.10488 386.00
0 #DIV/0! 46.75 46.75 1 46.75 -0.106429 402.25
0 #DIV/0! 54.50 54.50 1 54.5 0.153386 418.75
0 #DIV/0! 51.00 51.00 1 51 -0.066375 411.75
0 #DIV/0! 58.50 0.3 58.80 1 58.8 0.142316 415.00
0 #DIV/0! 47 47.00 1 47 -0.223994 365.75
0 #DIV/0! 54.25 54.25 1 54.25 0.143455 363.25
0 #DIV/0! 56.5 56.50 1 56.5 0.040638 397
0 #DIV/0! 69.75 69.75 1 69.75 0.210677 390.75
0 #DIV/0! 63.25 63.25 1 63.25 -0.097822 392.25
0 #DIV/0! 64.75 64.75 1 64.75 0.023439 392.25
0 #DIV/0! 60.25 60.25 1 60.25 -0.072031 388.5
0 #DIV/0! 63.75 63.75 1 63.75 0.056467 400.25
0 #DIV/0! 68 68.00 1 68 0.064539 536.5
0 #DIV/0! 72.25 72.25 1 72.25 0.060625 521.75
0 #DIV/0! 76 76.00 1 76 0.050601 621.75
0 #DIV/0! 72.75 0.3 73.05 1 73.05 -0.039589 732.25
0 #DIV/0! 74 74.00 1 74 0.012921 652.75
0 #DIV/0! 128.25 128.25 1 128.25 0.549916 580.5
0 #DIV/0! 116 116.00 1 116 -0.100391 587.25
0 #DIV/0! 107.75 107.75 1 107.75 -0.073776 570.75
0 #DIV/0! 204.50 204.50 1 204.5 0.640754 831.50
0 #DIV/0! 202.25 202.25 1 202.25 -0.011063 1060.50
0 #DIV/0! 192.25 192.25 1 192.25 -0.050708 1271.25
0 #DIV/0! 161.75 161.75 1 161.75 -0.172745 1138.50
0 #DIV/0! 161.5 161.50 1 161.5 -0.001547 990
0 #DIV/0! 162.5 162.50 1 162.5 0.006173 981.5
0 #DIV/0! 159.25 159.25 1 159.25 -0.020203 1096.25
0 #DIV/0! 158.75 0.3 159.05 1 159.05 -0.001257 1,088.25
0 #DIV/0! 115.75 115.75 1 115.75 -0.317786 859.25
0 #DIV/0! 135.5 135.50 1 135.5 0.157539 1013.75
0 #DIV/0! 189 189.00 1 189 0.332775 1091.25
0 #DIV/0! 312 312.00 1 312 0.501256 1192.25
0 #DIV/0! 516.25 516.25 1 516.25 0.503588 1386.25
72.275 #DIV/0! 405 405.00 1 405 -0.242704 1196.5
85.625 0.169499 443 443.00 1 443 0.089683 1253.5
88.625 0.034437 409.00 409.00 1 409 -0.079855 1,364.75
85.925 -0.030939 424.50 424.50 1 424.5 0.037197 1,352.00
91.625 0.064229 509.25 509.25 1 509.25 0.182027 1,368.25
106.95 0.154657 608.75 608.75 1 608.75 0.178469 1,490.25
130.95 0.202454 513.00 0.3 513.30 1 513.3 -0.170547 1,623.00
 172.15 0.273551 506.25 506.25 1 506.25 -0.01383 1657.5
172.15 0 406.00 406.00 1 406 -0.220677 1533.75
166.35 -0.034272 496.25 496.25 1 496.25 0.200727 1,698.50
176.475 0.059085 411.75 411.75 1 411.75 -0.186663 1,600.00
172.875 -0.02061 437.50 437.50 1 437.5 0.06066 1,630.75
214.7625 0.216964 438.00 438.00 1 438 0.001142 1,858.00
179.8 -0.177688 381 381.00 1 381 -0.13942 1807.25
183.325 0.019415 296.5 296.50 1 296.5 -0.250752 1714.5
216.675 0.167138 353.75 353.75 1 353.75 0.176543 1,831.25
287.925 0.284301 412.00 412.00 1 412 0.152433 1,948.75
180.6 -0.466415 489.00 489.00 1 489 0.171339 1,882.50
268.2 0.395448 523.00 523.00 0.05 1.05 549.15 0.116009 1,852.00
306.9 0.134789 783.00 783.00 1 783 0.354761 1984
292.625 -0.04763 556.75 556.75 1 556.75 -0.341016 1,761.25
270.475 -0.078712 510.25 510.25 1 510.25 -0.087216 1,604.75
190.45 -0.35079 280.75 280.75 1 280.75 -0.597436 1,120.50
190.45 0 579.00 579.00 1 579 0.723838 1,628.00
184.85 -0.029845 543.75 543.75 1 543.75 -0.062813 1,579.75
180.575 -0.023398 495.25 495.25 1 495.25 -0.093427 1,455.50
112.2 -0.475863 460.25 460.25 1 460.25 -0.073293 1,526.75
107.7 -0.040933 475.50 475.50 1 475.5 0.032597 1,597.50
102.3 -0.05144 516.75 516.75 1 516.75 0.083192 1,522.50
88.45 -0.145472 640.50 640.50 1 640.5 0.21469 1,536.00
68.15 -0.260726 338.75 338.75 1 338.75 -0.636987 1,296.25
71.05 0.041673 397.75 397.75 1 397.75 0.160561 1,282.00
70.1 -0.013461 56.50 56.50 1 56.5 -1.951583 138.50
49.2 -0.354029 50.3 50.30 1 50.3 -0.116236 109.4
58.5 0.173133 49.8 49.80 1 49.8 -0.00999 117.7
61.9 0.056493 50.3 50.30 1 50.3 0.00999 130.9
68.04 0.094576 42.4 42.40 1 42.4 -0.170857 130.3
49.9 -0.310075 37.5 37.50 1 37.5 -0.122807 122
44.9 -0.105583 37.8 37.80 1 37.8 0.007968 128
39 -0.140876 31.3 31.30 1 31.3 -0.188691 122.1
42.7 0.090637 35.6 35.60 1 35.6 0.128728 127.9
47 0.095949 41.4 41.40 1 41.4 0.150935 139.5
39.3 -0.178923 35.5 35.50 1 35.5 -0.153748 134
36.7 -0.068448 34.6 34.60 1 34.6 -0.025679 124.6
35.3 -0.038894 29.3 29.30 1 29.3 -0.166266 122

-0.016286 -0.005091
 10

AMCL PRAN BDCOM Online Ltd

cash Stock cash

dividend dividend Stock split dividend
adjusted no.of adjusted adjusted Average adjusted
Cash div price Stock Div stocks price price Return Price Cash div price
353.50 1 353.5 35.35 12.90 12.90
354.75 1 354.75 35.475 0.00353 12.60 12.60
337.50 1 337.5 33.75 -0.049848 11.40 11.40
369.75 1 369.75 36.975 0.091262 12.30 12.30
389.00 1 389 38.9 0.050752 14.10 14.10
24 440.25 1 440.25 44.025 0.123763 14.50 14.50
399.25 1 399.25 39.925 -0.097755 13.30 13.30
401.00 1 401 40.1 0.004374 11.40 11.40
398.25 1 398.25 39.825 -0.006881 10.60 10.60
407.00 1 407 40.7 0.021733 11.60 1 12.60
417.25 1 417.25 41.725 0.024872 13.90 13.90
425.50 1 425.5 42.55 0.019579 12.40 12.40
413.75 1 413.75 41.375 -0.028003 12.10 12.10
405.75 1 405.75 40.575 -0.019525 11.90 11.90
394.25 1 394.25 39.425 -0.028752 11.70 11.70
463.00 1 463 46.3 0.160742 11.70 11.70
451.50 1 451.5 45.15 -0.025152 12.40 12.40
24 541.00 1 541 54.1 0.180844 12.90 12.90
554.25 1 554.25 55.425 0.024197 12.90 12.90
567.75 1 567.75 56.775 0.024065 13.50 13.50
726.75 1 726.75 72.675 0.246901 15.20 15.20
635.25 1 635.25 63.525 -0.134564 15.50 1 16.50
620.25 1 620.25 62.025 -0.023896 15.50 15.50
591.50 1 591.5 59.15 -0.047461 25.40 25.40
507.50 1 507.5 50.75 -0.153165 21.40 21.40
503.25 1 503.25 50.325 -0.00841 24.70 24.70
519.00 1 519 51.9 0.030817 23.30 23.30
468.25 1 468.25 46.825 -0.102902 23.70 23.70
513.25 1 513.25 51.325 0.091761 24.30 24.30
514.50 1 514.5 51.45 0.002432 23.00 23.00
455.25 1 455.25 45.525 -0.122349 17.00 17.00
491.75 1 491.75 49.175 0.077124 19.90 19.90
26 516.75 1 516.75 51.675 0.049589 20.20 20.20
470.50 1 470.5 47.05 -0.093763 19.60 1 20.60
433.00 1 433 43.3 -0.083058 22.10 22.10
400.75 1 400.75 40.075 -0.0774 18.50 18.50
391.25 1 391.25 39.125 -0.023991 18.60 18.60
 378.50 1 378.5 37.85 -0.033131 17.10 17.10
377.25 1 377.25 37.725 -0.003308 19.4 19.40
372.00 1 372 37.2 -0.014014 17.5 17.50
377.00 1 377 37.7 0.013351 17.20 17.20
386.00 1 386 38.6 0.023592 16.10 16.10
402.25 1 402.25 40.225 0.041236 16.20 16.20
418.75 1 418.75 41.875 0.0402 17.00 17.00
411.75 1 411.75 41.175 -0.016858 16.30 16.30
415.00 1 415 41.5 0.007862 13.50 13.50
26 391.75 1 391.75 39.175 -0.057655 11.6 11.60
363.25 1 363.25 36.325 -0.075533 13.3 13.30
397.00 1 397 39.7 0.088845 15.1 15.10
390.75 1 390.75 39.075 -0.015868 19.3 19.30
392.25 1 392.25 39.225 0.003831 15.6 15.60
392.25 1 392.25 39.225 0 16.6 16.60
388.50 1 388.5 38.85 -0.009606 18.5 18.50
400.25 1 400.25 40.025 0.029796 18.9 18.90
536.50 1 536.5 53.65 0.292977 23 23.00
521.75 1 521.75 52.175 -0.027878 20.1 20.10
621.75 1 621.75 62.175 0.17535 21.2 21.20
732.25 1 732.25 73.225 0.163584 26.7 26.70
26 678.75 1 678.75 67.875 -0.075869 20 20.00
580.50 1 580.5 58.05 -0.156363 19.3 19.30
587.25 1 587.25 58.725 0.011561 19.9 19.90
570.75 1 570.75 57.075 -0.028499 23.60 23.60
831.50 1 831.5 83.15 0.37628 26.40 26.40
1060.50 1 1060.5 106.05 0.243264 26.90 26.90
1271.25 1 1271.25 127.125 0.18126 26.00 26.00
1138.50 1 1138.5 113.85 -0.110289 28.00 28.00
990.00 1 990 99 -0.139762 28.6 28.60
981.50 1 981.5 98.15 -0.008623 33.3 33.30
1096.25 1 1096.25 109.625 0.110569 31.20 31.20
1088.25 1 1088.25 108.825 -0.007324 35.50 35.50
28 887.25 1 887.25 88.725 -0.204199 25.1 25.10
1013.75 1 1013.75 101.375 0.133285 34 34.00
1091.25 1 1091.25 109.125 0.073668 37.1 37.10
1192.25 1 1192.25 119.225 0.088518 36.6 36.60
1386.25 1 1386.25 138.625 0.15076 47.9 47.90
1196.50 1 1196.5 119.65 -0.147202 42.2 42.20
1253.50 1 1253.5 125.35 0.046539 45.3 45.30
1364.75 1 1364.75 136.475 0.085032 47.90 47.90
1352.00 1 1352 135.2 -0.009386 53.50 53.50
1368.25 1 1368.25 136.825 0.011948 55.60 1 56.60
1490.25 1 1490.25 149.025 0.085411 37.30 37.30
29 1652.00 1 1652 165.2 0.103043 83.80 83.80
 1657.50 1 1657.5 165.75 0.003324 74.7 74.70
1533.75 1 1533.75 153.375 -0.077595 65.2 65.20
1698.50 1 1698.5 169.85 0.10203 75.70 75.70
1600.00 1 1600 160 -0.059742 60.80 60.80
1630.75 1 1630.75 163.075 0.019036 62.30 62.30
1858.00 1 1858 185.8 0.130461 61.90 61.90
1807.25 1 1807.25 180.725 -0.027694 51.5 51.50
1714.50 1 1714.5 171.45 -0.052685 51.6 51.60
1831.25 1 1831.25 183.125 0.065877 55.50 55.50
1948.75 1 1948.75 194.875 0.062189 63.30 63.30
1882.50 1 1882.5 188.25 -0.034587 65.40 65.40
1852.00 1 1852 185.2 -0.016335 58.60 58.60
30 2014.00 1 2014 201.4 0.083857 54.8 54.80
1761.25 1 1761.25 176.125 -0.134099 50.10 50.10
1604.75 1 1604.75 160.475 -0.093056 45.10 45.10
1120.50 1 1120.5 112.05 -0.359193 28.10 28.10
1628.00 1 1628 162.8 0.373577 45.10 45.10
1579.75 1 1579.75 157.975 -0.030086 41.00 41.00
1455.50 1 1455.5 145.55 -0.081917 37.70 37.70
1526.75 1 1526.75 152.675 0.047792 36.30 36.30
1597.50 1 1597.5 159.75 0.045299 40.70 40.70
1522.50 1 1522.5 152.25 -0.048086 36.00 36.00
1536.00 1 1536 153.6 0.008828 32.30 32.30
1296.25 1 1296.25 129.625 -0.169706 21.20 21.20
1282.00 1 1282 128.2 -0.011054 29.80 29.80
138.50 1 138.5 138.5 0.077279 26.10 26.10
109.40 1 109.4 109.4 -0.235859 20.2 20.20
117.70 1 117.7 117.7 0.073128 23 23.00
130.90 1 130.9 130.9 0.106295 23.2 23.20
130.30 1 130.3 130.3 -0.004594 22.8 22.80
122.00 1 122 122 -0.065818 20.4 20.40
128.00 1 128 128 0.048009 20.3 20.30
122.10 1 122.1 122.1 -0.04719 17.9 17.90
127.90 1 127.9 127.9 0.046408 20.3 20.30
139.50 1 139.5 139.5 0.086816 26.2 26.20
134.00 1 134 134 -0.040225 27 27.00
124.60 1 124.6 124.6 -0.072731 20.3 20.30
122.00 1 122 122 -0.021088 19.1 19.10

0.010409
COM Online Ltd

Stock
dividend
no.of adjusted Average DGEN
Stock Div stocks price Return DGEN Return
1 12.9 807.60
1 12.6 -0.02353 806.92 -0.000842
1 11.4 -0.100083 750.84 -0.072032
1 12.3 0.075986 787.94 0.048229
1 14.1 0.136576 791.70 0.004761
1 14.5 0.027974 830.46 0.047797
1 13.3 -0.086385 799.98 -0.037393
1 11.4 -0.154151 793.12 -0.008612
1 10.6 -0.072759 789.74 -0.004271
1 12.6 0.172843 801.27 0.014494
1 13.9 0.098192 920.61 0.138839
1 12.4 -0.114192 967.88 0.050072
1 12.1 -0.024491 961.18 -0.006946
1 11.9 -0.016667 953.81 -0.007697
1 11.7 -0.01695 973.88 0.020824
1 11.7 0 1,112.19 0.132798
1 12.4 0.058108 1,185.83 0.064112
1 12.9 0.039531 1,318.92 0.10637
1 12.9 0 1,289.14 -0.022838
1 13.5 0.045462 1,513.29 0.160311
1 15.2 0.118606 1,633.02 0.076145
1 16.5 0.082065 1,710.45 0.046325
1 15.5 -0.06252 1,877.05 0.092945
1 25.4 0.493909 1,971.31 0.048997
1 21.4 -0.171358 1,843.95 -0.066789
1 24.7 0.143412 1,835.62 -0.004526
1 23.3 -0.05835 1,919.25 0.044553
1 23.7 0.017022 1,537.87 -0.221538
1 24.3 0.025001 1,789.80 0.151706
1 23 -0.054982 1,713.17 -0.043758
1 17 -0.302281 1,510.11 -0.126163
1 19.9 0.157506 1,613.17 0.066019
1 20.2 0.014963 1,673.21 0.036543
1 20.6 0.019608 1,694.62 0.012713
1 22.1 0.070287 1,694.42 -0.000117
1 18.5 -0.177807 1,677.35 -0.010125
1 18.6 0.005391 1,643.34 -0.020484
 1 17.1 -0.084083 1,531.43 -0.070529
1 19.4 0.126195 1,491.77 -0.026239
1 17.5 -0.103072 1,361.27 -0.091545
1 17.2 -0.017291 1,355.04 -0.004587
1 16.1 -0.06609 1,339.52 -0.01152
1 16.2 0.006192 1,406.81 0.049013
1 17 0.048202 1,587.08 0.120571
1 16.3 -0.042048 1,562.53 -0.01559
1 13.5 -0.188475 1,541.65 -0.013453
1 11.6 -0.151685 1,527.29 -0.009358
1 13.3 0.136759 1,609.51 0.052435
1 15.1 0.126931 1,805.12 0.114697
1 19.3 0.24541 1,791.54 -0.007549
1 15.6 -0.212834 1,760.88 -0.017267
1 16.6 0.062132 1,743.33 -0.010015
1 18.5 0.108368 2,003.58 0.139142
1 18.9 0.021391 2,149.32 0.070212
1 23 0.196332 2,384.18 0.103706
1 20.1 -0.134774 2,455.09 0.029306
1 21.2 0.053281 2,548.19 0.03722
0.12 1.12 29.904 0.343991 2,850.81 0.112223
1 20 -0.40226 2,971.11 0.041332
1 19.3 -0.035627 3,017.21 0.015398
1 19.9 0.030615 2,907.17 -0.037155
1 23.6 0.170527 2,931.38 0.008296
1 26.4 0.112117 3,016.49 0.028619
1 26.9 0.018762 3,072.85 0.018512
1 26 -0.03403 3,167.99 0.030493
1 28 0.074108 3,000.50 -0.05432
1 28.6 0.021202 2,801.43 -0.068648
1 33.3 0.152151 2,791.21 -0.003655
0.1 1.1 34.32 0.030171 2,966.82 0.061015
1 35.5 0.033804 2,748.60 -0.076399
1 25.1 -0.346665 2,468.92 -0.107311
1 34 0.303493 2,795.34 0.124172
1 37.1 0.087256 2,649.49 -0.053583
1 36.6 -0.013569 2,570.96 -0.030088
1 47.9 0.269067 2,446.92 -0.04945
1 42.2 -0.126695 2,554.36 0.042969
1 45.3 0.070887 2,572.18 0.006954
1 47.9 0.055808 3,010.26 0.157274
1 53.5 0.110566 2,914.53 -0.032318
1 2 113.2 0.749475 2,941.28 0.009136
1 37.3 -1.110163 3,083.89 0.047344
1 83.8 0.80944 3,364.26 0.087018
 1 74.7 -0.114953 4,380.95 0.264057
1 65.2 -0.136021 4,535.53 0.034677
1 75.7 0.149319 5,367.11 0.168347
1 60.8 -0.219188 5,560.56 0.03541
1 62.3 0.024372 5,582.33 0.003908
1 61.9 -0.006441 5,654.88 0.012911
1 51.5 -0.183938 6,107.81 0.077051
1 51.6 0.00194 6,153.68 0.007481
1 55.5 0.072861 6,342.76 0.030264
1 63.3 0.131502 6,657.97 0.048502
1 65.4 0.032637 7,097.38 0.063911
0.13 1.13 66.218 0.01243 7,957.12 0.114341
1 54.8 -0.189262 8,602.44 0.077979
1 50.1 -0.089669 8,290.41 -0.036946
1 45.1 -0.105139 7,484.23 -0.102302
1 28.1 -0.473113 5,203.08 -0.363546
1 45.1 0.473113 6,352.10 0.199534
1 41 -0.09531 6,050.85 -0.048588
1 37.7 -0.083912 5,758.26 -0.049562
1 36.3 -0.037842 6,117.23 0.060474
1 40.7 0.11441 6,459.62 0.054461
1 36 -0.122709 6,212.00 -0.039089
1 32.3 -0.108452 5,910.20 -0.049802
0.05 1.05 22.26 -0.372276 5,036.50 -0.159969
1 29.8 0.291717 5,268.55 0.045045
1 26.1 -0.132573 4,996.34 -0.05305
1 20.2 -0.256253 4153.96 -0.184643
1 23 0.129812 4695.41 0.122522
1 23.2 0.008658 4990.32 0.060916
1 22.8 -0.017392 5098.90 0.021525
1 20.4 -0.111226 4734.33 -0.074185
1 20.3 -0.004914 4572.88 -0.034698
1 17.9 -0.12582 4159.17 -0.094828
1 20.3 0.12582 4446.87 0.066886
1 26.2 0.255139 4544.41 0.021697
1 27 0.030077 4493.92 -0.011172
1 20.3 -0.285216 4210.58 -0.065125
1 19.1 -0.060933 4219.31 0.002072

0.003298
Average Monthly return

AMCL
PRAN BDCOM
average average
Company Name Bay Leasing avBD.Autocars averareturn return

1 -0.0915927034 0.003529831 -0.0235305

2 -0.17824823141 -0.04984781 -0.1000835
3 0.417586468641 0.091261591 0.07598591
4 0.027724548015 0.050752242 0.13657554
5 -0.06453852114 0.123763404 0.02797385
6 -0.03390155168 -0.09775496 -0.0863846
7 -0.13846967427 0.00437364 -0.1541507
8 0.159792443734 -0.00688148 -0.0727594
9 -0.04311012365 0.021733237 0.17284281
10 0.154779808505 0.024872377 0.09819203
11 -0.13299245432 0.019579385 -0.1141924
12 0.050430853627 -0.02800302 -0.024491
13 -0.03758271115 -0.01952472 -0.0166671
14 -0.02586351059 -0.02875198 -0.0169496
15 -0.09138775159 0.160741828 0
16 0.138304671377 -0.02515168 0.05810763
17 0 0.180843906 0.03953084
18 -0.02531780798 0.02419657 0
19 0.008510689668 0.024065332 0.04546237
20 0.19912867511 0.246901358 0.11860574
21 -0.26389321049 -0.13456392 0.08206495
22 -0.01916991611 -0.023896 -0.0625204
23 -0.11720716464 -0.04746094 0.49390915
24 0.040614719154 -0.15316497 -0.1713583
25 -0.01503787736 -0.00840965 0.14341232
26 -0.08426034362 0.030816819 -0.0583499
27 -0.05071509258 -0.10290154 0.01702169
28 0.050715092579 0.091760715 0.0250013
29 -0.04495138786 0.002432499 -0.0549821
30 -0.10919929196 -0.12234884 -0.3022809
31 0.043894193557 0.077123739 0.15750639
32 -0.01857638557 0.049588741 0.01496287
33 0.055907631938 -0.09376324 0.01960847
34 -0.10720092633 -0.08305823 0.07028653
35 -0.08223809824 -0.07739994 -0.1778069
36 0.158224005215 -0.02399105 0.00539085
37 0.178248231406 -0.03313067 -0.0840831
38 0.31287232128 -0.00330798 0.1261946
39 -0.12715517549 -0.01401424 -0.1030722
40 -0.0214140945 0.013351333 -0.0172915
41 -0.10487963082 0.023592182 -0.0660901
42 -0.10642946285 0.041236416 0.00619197
43 0.153386445935 0.040200297 0.0482021
44 -0.06637506894 -0.01685771 -0.0420482
45 0.14231622218 0.007862151 -0.1884754
46 -0.22399425319 -0.05765464 -0.1516846
47 0.143455390711 -0.07553258 0.13675894
48 0.040637645732 0.088844978 0.12693071
49 0.210676782549 -0.01586831 0.24541035
50 -0.09782229309 0.003831422 -0.2128342
51 0.023438572972 0 0.06213178
52 -0.07203112821 -0.00960622 0.10836804
53 0.056466611668 0.029796182 0.02139119
54 0.064538521138 0.29297721 0.19633229
55 0.060624621816 -0.02787802 -0.1347744
56 0.050601013294 0.175349537 0.05328137
57 -0.03958920209 0.163583903 0.34399107
58 0.012920955007 -0.07586911 -0.40226
59 0.549916390847 -0.15636307 -0.0356272
60 -0.10039129294 0.011560822 0.03061464
61 -0.07377646212 -0.02849934 0.17052698
62 0.640754246499 0.376280013 0.1121173
63 -0.01106341954 0.243264475 0.01876228
64 -0.05070794755 0.181260173 -0.0340297
65 -0.172744675 -0.11028906 0.07410797
66 -0.00154679072 -0.13976194 0.02120221
67 0.006172859107 -0.00862293 0.15215068
68 -0.02020270732 0.11056853 0.03017088
69 -0.00125667626 -0.00732436 0.03380442
70 -0.31778592523 -0.20419939 -0.3466649
71 0.157538947353 0.133284814 0.30349268
72 0.33277537474 0.073667502 0.08725644
73 0.50125617275 0.08851845 -0.0135687
74 0.503587956466 0.150759981 0.26906726
75 -0.24270407717 -0.14720163 -0.1266953
76 0.1694990087 0.089682702939 0.04653901 0.07088681
77 0.0344366883 -0.079854614 0.085031623 0.05580847
78 -0.030939162 0.037196849709 -0.00938628 0.11056615
79 0.0642293375 0.182027049356 0.011947573 0.74947451
80 0.1546572753 0.17846861929 0.08541134 -1.1101628
81 0.2024541354 -0.17054720483 0.103042784 0.80943968
82 0.2735506188 -0.01382985115 0.003323768 -0.1149529
83 0 -0.22067745882 -0.07759473 -0.1360206
84 -0.034272187 0.2007266724 0.102029792 0.14931869
 85 0.0590852208 -0.18666346294 -0.05974188 -0.2191884
86 -0.020610433 0.06066033674 0.019036402 0.02437164
87 0.2169639764 0.001142204579 0.130460609 -0.0064412
88 -0.177687644 -0.13941953525 -0.02769429 -0.1839384
89 0.0194154119 -0.25075215669 -0.05268486 0.00193986
90 0.167138001 0.17654323052 0.065877301 0.07286135
91 0.2843014945 0.152432900392 0.062189348 0.13150231
92 -0.466415389 0.171339140125 -0.03458746 0.03263693
93 0.3954483299 0.116009138759 -0.01633454 0.01243007
94 0.1347889908 0.354761067756 0.083856658 -0.1892621
95 -0.047630036 -0.34101638985 -0.13409901 -0.0896692
96 -0.078712253 -0.08721550445 -0.0930558 -0.1051388
97 -0.35078998 -0.59743620807 -0.35919297 -0.4731127
98 0 0.723837883954 0.373577253 0.47311267
99 -0.029845008 -0.06281289517 -0.03008566 -0.0953102
100 -0.023398481 -0.09342689682 -0.08191712 -0.083912
101 -0.475863211 -0.07329286547 0.047791809 -0.0378424
102 -0.040933409 0.032597061872 0.045298614 0.11441035
103 -0.051439911 0.083192316576 -0.04808619 -0.1227092
104 -0.145472252 0.214689922775 0.008827914 -0.1084517
105 -0.260726262 -0.63698674914 -0.16970615 -0.3722759
106 0.0416726964 0.160561295024 -0.01105412 0.29171705
107 -0.013461061 -1.95158302907 0.077278781 -0.1325731
108 -0.354029171 -0.11623556105 -0.23585944 -0.2562527
109 0.1731331307 -0.00999009308 0.073128124 0.12981161
110 0.0564934255 0.009990093075 0.106294659 0.00865806
111 0.0945755878 -0.17085671487 -0.00459419 -0.0173917
112 -0.310074765 -0.12280742926 -0.06581844 -0.1112256
113 -0.105583208 0.007968169649 0.048009219 -0.004914
114 -0.140876149 -0.18869100508 -0.04718988 -0.1258202
115 0.0906372741 0.128727540312 0.046408327 0.12582017
116 0.0959486815 0.150935242973 0.086815893 0.25513852
117 -0.178923083 -0.15374818435 -0.0402248 0.03007746
118 -0.068447764 -0.02567901442 -0.07273119 -0.285216
119 -0.038893791 -0.16626616604 -0.02108756 -0.0609326

Total Monthly Return -0.716595324 -0.60582548549 1.238722652 0.39246102

Average Return -0.016286257 -0.00509097047 0.010409434 0.00329799

Variance calculation Bay leasing BD Autocars AMCL PRAN

Year Month Ri - E(Ri) Ri - E(Ri)^2 Ri - E(Ri) Ri - E(Ri)^2 Ri - E(Ri)
2003 January
 February -0.08650173 0.00748255 -0.0068796
March -0.17315726 0.02998344 -0.06025724
April 0.422677439 0.17865622 0.080852157
May 0.032815518 0.00107686 0.040342808
June -0.05944755 0.00353401 0.11335397
July -0.02881058 0.00083005 -0.10816439
August -0.1333787 0.01778988 -0.00603579
September 0.164883414 0.02718654 -0.01729091
October -0.03801915 0.00144546 0.011323803
November 0.159870779 0.02555867 0.014462943
December -0.12790148 0.01635879 0.009169951
2004 January 0.055521824 0.00308267 -0.03841246
February -0.03249174 0.00105571 -0.02993415
March -0.02077254 0.0004315 -0.03916141
April -0.08629678 0.00744713 0.150332394
May 0.143395642 0.02056231 -0.03556112
June 0.00509097 2.5918E-05 0.170434472
July -0.02022684 0.00040912 0.013787136
August 0.01360166 0.00018501 0.013655898
September 0.204219646 0.04170566 0.236491924
October -0.25880224 0.0669786 -0.14497335
November -0.01407895 0.00019822 -0.03430543
December -0.11211619 0.01257004 -0.05787037
2005 January 0.04570569 0.00208901 -0.16357441
February -0.00994691 9.8941E-05 -0.01881908
March -0.07916937 0.00626779 0.020407385
April -0.04562412 0.00208156 -0.11331098
May 0.055806063 0.00311432 0.081351281
June -0.03986042 0.00158885 -0.00797693
July -0.10410832 0.01083854 -0.13275827
August 0.048985164 0.00239955 0.066714305
September -0.01348542 0.00018186 0.039179307
October 0.060998602 0.00372083 -0.10417267
November -0.10210996 0.01042644 -0.09346767
December -0.07714713 0.00595168 -0.08780937
2006 January 0.163314976 0.02667178 -0.03440048
February 0.183339202 0.03361326 -0.0435401
March 0.317963292 0.10110065 -0.01371741
April -0.12206421 0.01489967 -0.02442368
May -0.01632312 0.00026644 0.002941899
June -0.09978866 0.00995778 0.013182748
July -0.10133849 0.01026949 0.030826982
August 0.158477416 0.02511509 0.029790863
September -0.0612841 0.00375574 -0.02726715
October 0.147407193 0.02172888 -0.00254728
 November -0.21890328 0.04791865 -0.06806407
December 0.148546361 0.02206602 -0.08594201
2007 January 0.045728616 0.00209111 0.078435544
February 0.215767753 0.04655572 -0.02627775
March -0.09273132 0.0085991 -0.00657801
April 0.028529543 0.00081393 -0.01040943
May -0.06694016 0.00448098 -0.02001566
June 0.061557582 0.00378934 0.019386748
July 0.069629492 0.00484827 0.282567776
August 0.065715592 0.00431854 -0.03828745
September 0.055691984 0.0031016 0.164940103
October -0.03449823 0.00119013 0.153174469
November 0.018011925 0.00032443 -0.08627855
December 0.555007361 0.30803317 -0.1667725
2008 January -0.09530032 0.00908215 0.001151388
February -0.06868549 0.0047177 -0.03890877
March 0.645845217 0.41711604 0.365870579
April -0.00597245 3.567E-05 0.232855041
May -0.04561698 0.00208091 0.170850739
June -0.1676537 0.02810776 -0.1206985
July 0.00354418 1.2561E-05 -0.15017138
August 0.01126383 0.00012687 -0.01903236
September -0.01511174 0.00022836 0.100159096
October 0.003834294 1.4702E-05 -0.0177338
November -0.31269495 0.09777813 -0.21460882
December 0.162629918 0.02644849 0.12287538
2009 January 0.337866345 0.11415367 0.063258068
February 0.506347143 0.25638743 0.078109016
March 0.508678927 0.25875425 0.140350547
April -0.23761311 0.05645999 -0.15761107
May 0.185785266 0.034516165079 0.094773673 0.00898205 0.036129576
June 0.0507229456 0.002572817214 -0.07476364 0.0055896 0.074622189
July -0.014652905 0.000214707618 0.04228782 0.00178826 -0.01979572
August 0.0805155948 0.006482761011 0.18711802 0.03501315 0.001538139
September 0.1709435327 0.029221691367 0.18355959 0.03369412 0.075001906
October 0.2187403928 0.047847359437 -0.16545623 0.02737577 0.09263335
November 0.2898368762 0.084005414802 -0.00873888 7.6368E-05 -0.00708567
December 0.0162862574 0.000265242179 -0.21558649 0.04647753 -0.08800416
2010 January -0.01798593 0.000323493676 0.205817643 0.0423609 0.091620358
February 0.0753714782 0.005680859723 -0.18157249 0.03296857 -0.07015131
March -0.004324176 1.86984975E-05 0.065751307 0.00432323 0.008626968
April 0.2332502338 0.054405671552 0.006233175 3.8852E-05 0.120051175
May -0.161401387 0.026050407722 -0.13432856 0.01804416 -0.03810372
June 0.0357016693 0.001274609191 -0.24566119 0.06034942 -0.06309429
July 0.1834242584 0.033644458571 0.181634201 0.03299098 0.055467867
 August 0.3005877519 0.090352996591 0.157523871 0.02481377 0.051779914
September -0.450129131 0.202616234763 0.176430111 0.03112758 -0.04499689
October 0.4117345872 0.169525370319 0.121100109 0.01466524 -0.02674398
November 0.1510752481 0.022823730601 0.359852038 0.12949349 0.073447224
December -0.031343778 0.000982432448 -0.33592542 0.11284589 -0.14450844
2011 January -0.062425996 0.003897004961 -0.08212453 0.00674444 -0.10346524
February -0.334503722 0.111892740223 -0.59234524 0.35087288 -0.3696024
March 0.0162862574 0.000265242179 0.728928854 0.53133727 0.363167819
April -0.01355875 0.000183839706 -0.05772192 0.00333182 -0.04049509
May -0.007112224 5.05837314E-05 -0.08833593 0.00780324 -0.09232656
June -0.459576953 0.211210976175 -0.06820189 0.0046515 0.037382375
July -0.024647152 0.00060748208 0.037688032 0.00142039 0.03488918
August -0.035153654 0.001235779378 0.088283287 0.00779394 -0.05849562
September -0.129185995 0.016689021301 0.219780893 0.04830364 -0.00158152
October -0.244440005 0.059750916094 -0.63189578 0.39929228 -0.18011559
November 0.0579589538 0.003359240321 0.165652265 0.02744067 -0.02146356
December 0.0028251969 7.9817373E-06 -1.94649206 3.78883133 0.066869347
2012 January -0.337742913 0.114070275403 -0.11114459 0.01235312 -0.24626887
February 0.1894193881 0.035879704589 -0.00489912 2.4001E-05 0.06271869
March 0.0727796828 0.005296882231 0.015081064 0.00022744 0.095885225
April 0.1108618452 0.012290348721 -0.16576574 0.02747828 -0.01500362
May -0.293788507 0.086311687085 -0.11771646 0.01385716 -0.07622787
June -0.089296951 0.007973945395 0.01305914 0.00017054 0.037599785
July -0.124589891 0.015522641003 -0.18360003 0.03370897 -0.05759932
August 0.1069235315 0.011432641582 0.133818511 0.01790739 0.035998893
September 0.1122349388 0.012596681496 0.156026213 0.02434418 0.076406459
October -0.162636825 0.026450737 -0.14865721 0.02209897 -0.05063424
November -0.052161506 0.002720822755 -0.02058804 0.00042387 -0.08314063
December -0.022607534 0.000511100583 -0.1611752 0.02597744 -0.031497

Bay leasing BD Autocars AMCL PRAN BDCOM

∑[Ri - E(Ri)]^2 1.5530333981 8.509741910966 1.38204692 5.3025258
Variance ∑[Ri - E(Ri)]^2/n 0.0130507008 0.071510436227 0.01161384 0.04455904
Standard deviation 0.114239664 0.267414353068 0.107767526 0.21109012
 BDCOM
Ri - E(Ri)^2 Ri - E(Ri) Ri - E(Ri)^2
4.7329E-05 -0.026828 0.0007198
0.00363093 -0.103381 0.0106877
0.00653707 0.072688 0.0052835
0.00162754 0.133278 0.0177629
0.01284912 0.024676 0.0006089
0.01169954 -0.089683 0.008043
3.6431E-05 -0.157449 0.0247901
0.00029898 -0.076057 0.0057847
0.00012823 0.169545 0.0287454
0.00020918 0.094894 0.0090049
8.4088E-05 -0.11749 0.013804
0.00147552 -0.027789 0.0007722
0.00089605 -0.019965 0.0003986
0.00153362 -0.020248 0.00041
0.02259983 -0.003298 1.0877E-05
0.00126459 0.05481 0.0030041
0.02904791 0.036233 0.0013128
0.00019009 -0.003298 1.0877E-05
0.00018648 0.042164 0.0017778
0.05592843 0.115308 0.0132959
0.02101727 0.078767 0.0062042
0.00117686 -0.065818 0.0043321
0.00334898 0.490611 0.2406993
0.02675659 -0.174656 0.0305048
0.00035416 0.140114 0.019632
0.00041646 -0.061648 0.0038005
0.01283938 0.013724 0.0001883
0.00661803 0.021703 0.000471
6.3631E-05 -0.05828 0.0033966
0.01762476 -0.305579 0.0933784
0.0044508 0.154208 0.0237802
0.00153502 0.011665 0.0001361
0.01085195 0.01631 0.000266
0.0087362 0.066989 0.0044875
0.00771049 -0.181105 0.032799
0.00118339 0.002093 4.38E-06
0.00189574 -0.087381 0.0076355
0.00018817 0.122897 0.0151036
0.00059652 -0.10637 0.0113146
8.6548E-06 -0.020589 0.0004239
0.00017378 -0.069388 0.0048147
0.0009503 0.002894 8.3751E-06
0.0008875 0.044904 0.0020164
0.0007435 -0.045346 0.0020563
6.4887E-06 -0.191773 0.036777
0.00463272 -0.154983 0.0240196
0.00738603 0.133461 0.0178118
0.00615213 0.123633 0.015285
0.00069052 0.242112 0.0586184
4.327E-05 -0.216132 0.0467131
0.00010836 0.058834 0.0034614
0.00040063 0.10507 0.0110397
0.00037585 0.018093 0.0003274
0.07984455 0.193034 0.0372622
0.00146593 -0.138072 0.019064
0.02720524 0.049983 0.0024983
0.02346242 0.340693 0.1160718
0.00744399 -0.405558 0.1644773
0.02781307 -0.038925 0.0015152
1.3257E-06 0.027317 0.0007462
0.00151389 0.167229 0.0279655
0.13386128 0.108819 0.0118416
0.05422147 0.015464 0.0002391
0.02918998 -0.037328 0.0013934
0.01456813 0.07081 0.0050141
0.02255144 0.017904 0.0003206
0.00036223 0.148853 0.0221571
0.01003184 0.026873 0.0007222
0.00031449 0.030506 0.0009306
0.04605695 -0.349963 0.122474
0.01509836 0.300195 0.0901168
0.00400158 0.083958 0.007049
0.00610102 -0.016867 0.0002845
0.01969828 0.265769 0.0706333
0.02484125 -0.129993 0.0168983
0.00130535 0.067589 0.0045682
0.00556847 0.05251 0.0027574
0.00039187 0.107268 0.0115065
2.3659E-06 0.746177 0.5567794
0.00562529 -1.113461 1.239795
0.00858094 0.806142 0.6498644
5.0207E-05 -0.118251 0.0139833
0.00774473 -0.139319 0.0194097
0.00839429 0.146021 0.021322
0.00492121 -0.222486 0.0495002
7.4425E-05 0.021074 0.0004441
0.01441228 -0.009739 9.4853E-05
0.00145189 -0.187236 0.0350575
0.00398089 -0.001358 1.8445E-06
0.00307668 0.069563 0.0048391
0.00268116 0.128204 0.0164363
0.00202472 0.029339 0.0008608
0.00071524 0.009132 8.3395E-05
0.00539449 -0.19256 0.0370794
0.02088269 -0.092967 0.0086429
0.01070506 -0.108437 0.0117585
0.13660593 -0.476411 0.2269671
0.13189086 0.469815 0.2207258
0.00163985 -0.098608 0.0097236
0.00852419 -0.08721 0.0076056
0.00139744 -0.04114 0.0016925
0.00121725 0.111112 0.012346
0.00342174 -0.126007 0.0158778
2.5012E-06 -0.11175 0.012488
0.03244163 -0.375574 0.1410557
0.00046068 0.288419 0.0831856
0.00447151 -0.135871 0.0184609
0.06064836 -0.259551 0.0673666
0.00393363 0.126514 0.0160057
0.00919398 0.00536 2.873E-05
0.00022511 -0.02069 0.0004281
0.00581069 -0.114524 0.0131157
0.00141374 -0.008212 6.7437E-05
0.00331768 -0.129118 0.0166715
0.00129592 0.122522 0.0150117
0.00583795 0.251841 0.0634237
0.00256383 0.026779 0.0007171
0.00691236 -0.288514 0.0832403
0.00099206 -0.064231 0.0041256
Average Monthly return

Company Name Bay Leasing averagBD.Autocars averAMCL PRAN average retBDCOM average return

1.00 -0.09 0.00 -0.02

2.00 -0.18 -0.05 -0.10
3.00 0.42 0.09 0.08
4.00 0.03 0.05 0.14
5.00 -0.06 0.12 0.03
6.00 -0.03 -0.10 -0.09
7.00 -0.14 0.00 -0.15
8.00 0.16 -0.01 -0.07
9.00 -0.04 0.02 0.17
10.00 0.15 0.02 0.10
11.00 -0.13 0.02 -0.11
12.00 0.05 -0.03 -0.02
13.00 -0.04 -0.02 -0.02
14.00 -0.03 -0.03 -0.02
15.00 -0.09 0.16 0.00
16.00 0.14 -0.03 0.06
17.00 0.00 0.18 0.04
18.00 -0.03 0.02 0.00
19.00 0.01 0.02 0.05
20.00 0.20 0.25 0.12
21.00 -0.26 -0.13 0.08
22.00 -0.02 -0.02 -0.06
23.00 -0.12 -0.05 0.49
24.00 0.04 -0.15 -0.17
25.00 -0.02 -0.01 0.14
26.00 -0.08 0.03 -0.06
27.00 -0.05 -0.10 0.02
28.00 0.05 0.09 0.03
29.00 -0.04 0.00 -0.05
30.00 -0.11 -0.12 -0.30
31.00 0.04 0.08 0.16
32.00 -0.02 0.05 0.01
33.00 0.06 -0.09 0.02
34.00 -0.11 -0.08 0.07
35.00 -0.08 -0.08 -0.18
36.00 0.16 -0.02 0.01
37.00 0.18 -0.03 -0.08
38.00 0.31 0.00 0.13
39.00 -0.13 -0.01 -0.10
40.00 -0.02 0.01 -0.02
41.00 -0.10 0.02 -0.07
42.00 -0.11 0.04 0.01
43.00 0.15 0.04 0.05
44.00 -0.07 -0.02 -0.04
45.00 0.14 0.01 -0.19
46.00 -0.22 -0.06 -0.15
47.00 0.14 -0.08 0.14
48.00 0.04 0.09 0.13
49.00 0.21 -0.02 0.25
50.00 -0.10 0.00 -0.21
51.00 0.02 0.00 0.06
52.00 -0.07 -0.01 0.11
53.00 0.06 0.03 0.02
54.00 0.06 0.29 0.20
55.00 0.06 -0.03 -0.13
56.00 0.05 0.18 0.05
57.00 -0.04 0.16 0.34
58.00 0.01 -0.08 -0.40
59.00 0.55 -0.16 -0.04
60.00 -0.10 0.01 0.03
61.00 -0.07 -0.03 0.17
62.00 0.64 0.38 0.11
63.00 -0.01 0.24 0.02
64.00 -0.05 0.18 -0.03
65.00 -0.17 -0.11 0.07
66.00 0.00 -0.14 0.02
67.00 0.01 -0.01 0.15
68.00 -0.02 0.11 0.03
69.00 0.00 -0.01 0.03
70.00 -0.32 -0.20 -0.35
71.00 0.16 0.13 0.30
72.00 0.33 0.07 0.09
73.00 0.50 0.09 -0.01
74.00 0.50 0.15 0.27
75.00 -0.24 -0.15 -0.13
76.00 0.17 0.09 0.05 0.07
77.00 0.03 -0.08 0.09 0.06
78.00 -0.03 0.04 -0.01 0.11
79.00 0.06 0.18 0.01 0.75
80.00 0.15 0.18 0.09 -1.11
81.00 0.20 -0.17 0.10 0.81
82.00 0.27 -0.01 0.00 -0.11
83.00 0.00 -0.22 -0.08 -0.14
84.00 -0.03 0.20 0.10 0.15
85.00 0.06 -0.19 -0.06 -0.22
86.00 -0.02 0.06 0.02 0.02
 87.00 0.22 0.00 0.13 -0.01
88.00 -0.18 -0.14 -0.03 -0.18
89.00 0.02 -0.25 -0.05 0.00
90.00 0.17 0.18 0.07 0.07
91.00 0.28 0.15 0.06 0.13
92.00 -0.47 0.17 -0.03 0.03
93.00 0.40 0.12 -0.02 0.01
94.00 0.13 0.35 0.08 -0.19
95.00 -0.05 -0.34 -0.13 -0.09
96.00 -0.08 -0.09 -0.09 -0.11
97.00 -0.35 -0.60 -0.36 -0.47
98.00 0.00 0.72 0.37 0.47
99.00 -0.03 -0.06 -0.03 -0.10
100.00 -0.02 -0.09 -0.08 -0.08
101.00 -0.48 -0.07 0.05 -0.04
102.00 -0.04 0.03 0.05 0.11
103.00 -0.05 0.08 -0.05 -0.12
104.00 -0.15 0.21 0.01 -0.11
105.00 -0.26 -0.64 -0.17 -0.37
106.00 0.04 0.16 -0.01 0.29
107.00 -0.01 -1.95 0.08 -0.13
108.00 -0.35 -0.12 -0.24 -0.26
109.00 0.17 -0.01 0.07 0.13
110.00 0.06 0.01 0.11 0.01
111.00 0.09 -0.17 0.00 -0.02
112.00 -0.31 -0.12 -0.07 -0.11
113.00 -0.11 0.01 0.05 0.00
114.00 -0.14 -0.19 -0.05 -0.13
115.00 0.09 0.13 0.05 0.13
116.00 0.10 0.15 0.09 0.26
117.00 -0.18 -0.15 -0.04 0.03
118.00 -0.07 -0.03 -0.07 -0.29
119.00 -0.04 -0.17 -0.02 -0.06

Total Monthly Return -0.72 -0.61 1.24 0.39

Variance calculatio Bay leasing BD Autocars

Year Month Ri - E(Ri) Ri - E(Ri)^2 Ri - E(Ri)
2003 January
February -0.09
March -0.17
April 0.42
May 0.03
June -0.06
 July -0.03
August -0.13
September 0.16
October -0.04
November 0.16
December -0.13
2004 January 0.06
February -0.03
March -0.02
April -0.09
May 0.14
June 0.01
July -0.02
August 0.01
September 0.20
October -0.26
November -0.01
December -0.11
2005 January 0.05
February -0.01
March -0.08
April -0.05
May 0.06
June -0.04
July -0.10
August 0.05
September -0.01
October 0.06
November -0.10
December -0.08
2006 January 0.16
February 0.18
March 0.32
April -0.12
May -0.02
June -0.10
July -0.10
August 0.16
September -0.06
October 0.15
November -0.22
December 0.15
2007 January 0.05
February 0.22
March -0.09
 April 0.03
May -0.07
June 0.06
July 0.07
August 0.07
September 0.06
October -0.03
November 0.02
December 0.56
2008 January -0.10
February -0.07
March 0.65
April -0.01
May -0.05
June -0.17
July 0.00
August 0.01
September -0.02
October 0.00
November -0.31
December 0.16
2009 January 0.34
February 0.51
March 0.51
April -0.24
May 0.19 0.03 0.09
June 0.05 0.00 -0.07
July -0.01 0.00 0.04
August 0.08 0.01 0.19
September 0.17 0.03 0.18
October 0.22 0.05 -0.17
November 0.29 0.08 -0.01
December 0.02 0.00 -0.22
2010 January -0.02 0.00 0.21
February 0.08 0.01 -0.18
March 0.00 0.00 0.07
April 0.23 0.05 0.01
May -0.16 0.03 -0.13
June 0.04 0.00 -0.25
July 0.18 0.03 0.18
August 0.30 0.09 0.16
September -0.45 0.20 0.18
October 0.41 0.17 0.12
November 0.15 0.02 0.36
December -0.03 0.00 -0.34
 2011 January -0.06 0.00 -0.08
February -0.33 0.11 -0.59
March 0.02 0.00 0.73
April -0.01 0.00 -0.06
May -0.01 0.00 -0.09
June -0.46 0.21 -0.07
July -0.02 0.00 0.04
August -0.04 0.00 0.09
September -0.13 0.02 0.22
October -0.24 0.06 -0.63
November 0.06 0.00 0.17
December 0.00 0.00 -1.95
2012 January -0.34 0.11 -0.11
February 0.19 0.04 0.00
March 0.07 0.01 0.02
April 0.11 0.01 -0.17
May -0.29 0.09 -0.12
June -0.09 0.01 0.01
July -0.12 0.02 -0.18
August 0.11 0.01 0.13
September 0.11 0.01 0.16
October -0.16 0.03 -0.15
November -0.05 0.00 -0.02
December -0.02 0.00 -0.16

Bay leasing BD Autocars AMCL PRAN

∑[Ri - E(Ri)]^2 1.55 8.51 1.38
Variance ∑[Ri - E(Ri)]^2/n 0.01 0.07 0.01
Standard deviation 0.11 0.27 0.11
 AMCL PRAN BDCOM
Ri - E(Ri)^2Ri - E(Ri) Ri - E(Ri)^2Ri - E(Ri) Ri - E(Ri)^2

0.01 -0.01 0.00 -0.03 0.00

0.03 -0.06 0.00 -0.10 0.01
0.18 0.08 0.01 0.07 0.01
0.00 0.04 0.00 0.13 0.02
0.00 0.11 0.01 0.02 0.00
0.00 -0.11 0.01 -0.09 0.01
0.02 -0.01 0.00 -0.16 0.02
0.03 -0.02 0.00 -0.08 0.01
0.00 0.01 0.00 0.17 0.03
0.03 0.01 0.00 0.09 0.01
0.02 0.01 0.00 -0.12 0.01
0.00 -0.04 0.00 -0.03 0.00
0.00 -0.03 0.00 -0.02 0.00
0.00 -0.04 0.00 -0.02 0.00
0.01 0.15 0.02 0.00 0.00
0.02 -0.04 0.00 0.05 0.00
0.00 0.17 0.03 0.04 0.00
0.00 0.01 0.00 0.00 0.00
0.00 0.01 0.00 0.04 0.00
0.04 0.24 0.06 0.12 0.01
0.07 -0.14 0.02 0.08 0.01
0.00 -0.03 0.00 -0.07 0.00
0.01 -0.06 0.00 0.49 0.24
0.00 -0.16 0.03 -0.17 0.03
0.00 -0.02 0.00 0.14 0.02
0.01 0.02 0.00 -0.06 0.00
0.00 -0.11 0.01 0.01 0.00
0.00 0.08 0.01 0.02 0.00
0.00 -0.01 0.00 -0.06 0.00
0.01 -0.13 0.02 -0.31 0.09
0.00 0.07 0.00 0.15 0.02
0.00 0.04 0.00 0.01 0.00
0.00 -0.10 0.01 0.02 0.00
0.01 -0.09 0.01 0.07 0.00
0.01 -0.09 0.01 -0.18 0.03
0.03 -0.03 0.00 0.00 0.00
0.03 -0.04 0.00 -0.09 0.01
0.10 -0.01 0.00 0.12 0.02
0.01 -0.02 0.00 -0.11 0.01
0.00 0.00 0.00 -0.02 0.00
0.01 0.01 0.00 -0.07 0.00
0.01 0.03 0.00 0.00 0.00
0.03 0.03 0.00 0.04 0.00
0.00 -0.03 0.00 -0.05 0.00
0.02 0.00 0.00 -0.19 0.04
0.05 -0.07 0.00 -0.15 0.02
0.02 -0.09 0.01 0.13 0.02
0.00 0.08 0.01 0.12 0.02
0.05 -0.03 0.00 0.24 0.06
0.01 -0.01 0.00 -0.22 0.05
0.00 -0.01 0.00 0.06 0.00
0.00 -0.02 0.00 0.11 0.01
0.00 0.02 0.00 0.02 0.00
0.00 0.28 0.08 0.19 0.04
0.00 -0.04 0.00 -0.14 0.02
0.00 0.16 0.03 0.05 0.00
0.00 0.15 0.02 0.34 0.12
0.00 -0.09 0.01 -0.41 0.16
0.31 -0.17 0.03 -0.04 0.00
0.01 0.00 0.00 0.03 0.00
0.00 -0.04 0.00 0.17 0.03
0.42 0.37 0.13 0.11 0.01
0.00 0.23 0.05 0.02 0.00
0.00 0.17 0.03 -0.04 0.00
0.03 -0.12 0.01 0.07 0.01
0.00 -0.15 0.02 0.02 0.00
0.00 -0.02 0.00 0.15 0.02
0.00 0.10 0.01 0.03 0.00
0.00 -0.02 0.00 0.03 0.00
0.10 -0.21 0.05 -0.35 0.12
0.03 0.12 0.02 0.30 0.09
0.11 0.06 0.00 0.08 0.01
0.26 0.08 0.01 -0.02 0.00
0.26 0.14 0.02 0.27 0.07
0.06 -0.16 0.02 -0.13 0.02
0.01 0.04 0.00 0.07 0.00
0.01 0.07 0.01 0.05 0.00
0.00 -0.02 0.00 0.11 0.01
0.04 0.00 0.00 0.75 0.56
0.03 0.08 0.01 -1.11 1.24
0.03 0.09 0.01 0.81 0.65
0.00 -0.01 0.00 -0.12 0.01
0.05 -0.09 0.01 -0.14 0.02
0.04 0.09 0.01 0.15 0.02
0.03 -0.07 0.00 -0.22 0.05
0.00 0.01 0.00 0.02 0.00
0.00 0.12 0.01 -0.01 0.00
0.02 -0.04 0.00 -0.19 0.04
0.06 -0.06 0.00 0.00 0.00
0.03 0.06 0.00 0.07 0.00
0.02 0.05 0.00 0.13 0.02
0.03 -0.04 0.00 0.03 0.00
0.01 -0.03 0.00 0.01 0.00
0.13 0.07 0.01 -0.19 0.04
0.11 -0.14 0.02 -0.09 0.01
 0.01 -0.10 0.01 -0.11 0.01
0.35 -0.37 0.14 -0.48 0.23
0.53 0.36 0.13 0.47 0.22
0.00 -0.04 0.00 -0.10 0.01
0.01 -0.09 0.01 -0.09 0.01
0.00 0.04 0.00 -0.04 0.00
0.00 0.03 0.00 0.11 0.01
0.01 -0.06 0.00 -0.13 0.02
0.05 0.00 0.00 -0.11 0.01
0.40 -0.18 0.03 -0.38 0.14
0.03 -0.02 0.00 0.29 0.08
3.79 0.07 0.00 -0.14 0.02
0.01 -0.25 0.06 -0.26 0.07
0.00 0.06 0.00 0.13 0.02
0.00 0.10 0.01 0.01 0.00
0.03 -0.02 0.00 -0.02 0.00
0.01 -0.08 0.01 -0.11 0.01
0.00 0.04 0.00 -0.01 0.00
0.03 -0.06 0.00 -0.13 0.02
0.02 0.04 0.00 0.12 0.02
0.02 0.08 0.01 0.25 0.06
0.02 -0.05 0.00 0.03 0.00
0.00 -0.08 0.01 -0.29 0.08
0.03 -0.03 0.00 -0.06 0.00

BDCOM
5.30
0.04
0.21
 Bay leasing BD Autocars AMCL PRAN BDCOM
Year Month Ri - E(Ri) Ri - E(Ri) Ri - E(Ri) Ri - E(Ri)
2003 January C*D C*E
February -0.086501733 -0.0068796 -0.02682849 0 0
March -0.173157261 -0.06025724 -0.10338145 0 0
April 0.4226774391 0.080852157 0.07268792 0 0
May 0.0328155185 0.040342808 0.13327754 0 0
June -0.059447551 0.11335397 0.02467586 0 0
July -0.028810581 -0.10816439 -0.08968261 0 0
August -0.133378704 -0.00603579 -0.15744867 0 0
September 0.1648834142 -0.01729091 -0.07605735 0 0
October -0.038019153 0.011323803 0.16954482 0 0
November 0.159870779 0.014462943 0.09489403 0 0
December -0.127901484 0.009169951 -0.11749036 0 0
2004 January 0.0555218241 -0.03841246 -0.02778901 0 0
February -0.032491741 -0.02993415 -0.01996504 0 0
March -0.02077254 -0.03916141 -0.02024755 0 0
April -0.086296781 0.150332394 -0.00329799 0 0
May 0.1433956418 -0.03556112 0.05480964 0 0
June 0.0050909705 0.170434472 0.03623285 0 0
July -0.020226838 0.013787136 -0.00329799 0 0
August 0.0136016601 0.013655898 0.04216438 0 0
September 0.2042196456 0.236491924 0.11530775 0 0
October -0.25880224 -0.14497335 0.07876696 0 0
November -0.014078946 -0.03430543 -0.06581835 0 0
December -0.112116194 -0.05787037 0.49061116 0 0
2005 January 0.0457056896 -0.16357441 -0.17465624 0 0
February -0.009946907 -0.01881908 0.14011433 0 0
March -0.079169373 0.020407385 -0.06164787 0 0
April -0.045624122 -0.11331098 0.0137237 0 0
May 0.055806063 0.081351281 0.02170331 0 0
June -0.039860417 -0.00797693 -0.05828013 0 0
July -0.104108321 -0.13275827 -0.30557886 0 0
August 0.048985164 0.066714305 0.1542084 0 0
September -0.013485415 0.039179307 0.01166488 0 0
October 0.0609986024 -0.10417267 0.01631048 0 0
November -0.102109956 -0.09346767 0.06698854 0 0
December -0.077147128 -0.08780937 -0.18110487 0 0
2006 January 0.1633149757 -0.03440048 0.00209286 0 0
February 0.1833392019 -0.0435401 -0.08738111 0 0
March 0.3179632917 -0.01371741 0.12289661 0 0
April -0.122064205 -0.02442368 -0.10637018 0 0
May -0.016323124 0.002941899 -0.02058949 0 0
June -0.09978866 0.013182748 -0.0693881 0 0
July -0.101338492 0.030826982 0.00289398 0 0
 August 0.1584774164 0.029790863 0.04490411 0 0
September -0.061284098 -0.02726715 -0.04534623 0 0
October 0.1474071926 -0.00254728 -0.19177341 0 0
November -0.218903283 -0.06806407 -0.15498258 0 0
December 0.1485463612 -0.08594201 0.13346095 0 0
2007 January 0.0457286162 0.078435544 0.12363272 0 0
February 0.215767753 -0.02627775 0.24211236 0 0
March -0.092731323 -0.00657801 -0.21613217 0 0
April 0.0285295434 -0.01040943 0.05883379 0 0
May -0.066940158 -0.02001566 0.10507004 0 0
June 0.0615575821 0.019386748 0.0180932 0 0
July 0.0696294916 0.282567776 0.1930343 0 0
August 0.0657155923 -0.03828745 -0.13807239 0 0
September 0.0556919838 0.164940103 0.04998337 0 0
October -0.034498232 0.153174469 0.34069308 0 0
November 0.0180119255 -0.08627855 -0.40555797 0 0
December 0.5550073613 -0.1667725 -0.03892517 0 0
2008 January -0.095300322 0.001151388 0.02731664 0 0
February -0.068685492 -0.03890877 0.16722899 0 0
March 0.645845217 0.365870579 0.10881931 0 0
April -0.005972449 0.232855041 0.01546428 0 0
May -0.045616977 0.170850739 -0.03732774 0 0
June -0.167653705 -0.1206985 0.07080998 0 0
July 0.0035441797 -0.15017138 0.01790422 0 0
August 0.0112638296 -0.01903236 0.14885269 0 0
September -0.015111737 0.100159096 0.02687289 0 0
October 0.0038342942 -0.0177338 0.03050643 0 0
November -0.312694955 -0.21460882 -0.34996284 0 0
December 0.1626299178 0.12287538 0.30019469 0 0
2009 January 0.3378663452 0.063258068 0.08395845 0 0
February 0.5063471432 0.078109016 -0.01686672 0 0
March 0.5086789269 0.140350547 0.26576927 0 0
April -0.237613107 -0.15761107 -0.12999328 0 0
May 0.18578527 0.0947736734 0.036129576 0.06758882 0.017608 0.00671234
June 0.05072295 -0.074763644 0.074622189 0.05251048 -0.003792 0.00378506
July -0.0146529 0.0422878202 -0.01979572 0.10726816 -0.00062 0.00029006
August 0.08051559 0.1871180198 0.001538139 0.74617652 0.015066 0.00012384
September 0.17094353 0.1835595898 0.075001906 -1.11346083 0.031378 0.01282109
October 0.21874039 -0.165456234 0.09263335 0.80614169 -0.036192 0.02026266
November 0.28983688 -0.008738881 -0.00708567 -0.11825091 -0.002533 -0.00205369
December 0.01628626 -0.215586488 -0.08800416 -0.13931862 -0.003511 -0.00143326
2010 January -0.01798593 0.2058176429 0.091620358 0.1460207 -0.003702 -0.00164788
February 0.07537148 -0.181572492 -0.07015131 -0.22248636 -0.013685 -0.00528741
March -0.00432418 0.0657513072 0.008626968 0.02107365 -0.000284 -3.7305E-05
April 0.23325023 0.006233175 0.120051175 -0.00973924 0.001454 0.02800196
 May -0.16140139 -0.134328565 -0.03810372 -0.18723636 0.021681 0.00614999
June 0.03570167 -0.245661186 -0.06309429 -0.00135813 -0.008771 -0.00225257
July 0.18342426 0.181634201 0.055467867 0.06956336 0.033316 0.01017415
August 0.30058775 0.1575238709 0.051779914 0.12820432 0.04735 0.01556441
September -0.45012913 0.1764301106 -0.04499689 0.02933894 -0.079416 0.02025441
October 0.41173459 0.1211001092 -0.02674398 0.00913208 0.049861 -0.01101142
November 0.15107525 0.3598520382 0.073447224 -0.19256013 0.054365 0.01109606
December -0.03134378 -0.335925419 -0.14450844 -0.09296718 0.010529 0.00452944
2011 January -0.062426 -0.082124534 -0.10346524 -0.10843675 0.005127 0.00645892
February -0.33450372 -0.592345238 -0.3696024 -0.47641066 0.198142 0.12363338
March 0.01628626 0.7289288544 0.363167819 0.46981468 0.011872 0.00591464
April -0.01355875 -0.057721925 -0.04049509 -0.09860817 0.000783 0.00054906
May -0.00711222 -0.088335926 -0.09232656 -0.08720996 0.000628 0.00065665
June -0.45957695 -0.068201895 0.037382375 -0.04114034 0.031344 -0.01718008
July -0.02464715 0.0376880323 0.03488918 0.11111236 -0.000929 -0.00085992
August -0.03515365 0.088283287 -0.05849562 -0.12600715 -0.003103 0.00205633
September -0.12918599 0.2197808932 -0.00158152 -0.1117497 -0.028393 0.00020431
October -0.24444001 -0.631895779 -0.18011559 -0.37557388 0.154461 0.04402746
November 0.05795895 0.1656522655 -0.02146356 0.28841906 0.009601 -0.00124401
December 0.0028252 -1.946492059 0.066869347 -0.13587107 -0.005499 0.00018892
2012 January -0.33774291 -0.111144591 -0.24626887 -0.2595507 0.037538 0.08317557
February 0.18941939 -0.004899123 0.06271869 0.12651362 -0.000928 0.01188014
March 0.07277968 0.0150810635 0.095885225 0.00536007 0.001098 0.0069785
April 0.11086185 -0.165765744 -0.01500362 -0.02068973 -0.018377 -0.00166333
May -0.29378851 -0.117716459 -0.07622787 -0.11452363 0.034584 0.02239487
June -0.08929695 0.0130591401 0.037599785 -0.00821201 -0.001166 -0.00335755
July -0.12458989 -0.183600035 -0.05759932 -0.12911816 0.022875 0.00717629
August 0.10692353 0.1338185108 0.035998893 0.12252218 0.014308 0.00384913
September 0.11223494 0.1560262134 0.076406459 0.25184053 0.017512 0.00857547
October -0.16263683 -0.148657214 -0.05063424 0.02677946 0.024177 0.00823499
November -0.05216151 -0.020588044 -0.08314063 -0.28851397 0.001074 0.00433674
December -0.02260753 -0.161175196 -0.031497 -0.06423054 0.003644 0.00071207

Total 0.640471 0.43274052

Covariance 0.005382 0.00363647

C*F D*E D*F E*F
0 0.000595 0.002321 0.000185
0 0.010434 0.017901 0.006229
0 0.034174 0.030724 0.005877
0 0.001324 0.004374 0.005377
0 -0.006739 -0.001467 0.002797
0 0.003116 0.002584 0.0097
0 0.000805 0.021 0.00095
0 -0.002851 -0.012541 0.001315
0 -0.000431 -0.006446 0.00192
0 0.002312 0.015171 0.001372
0 -0.001173 0.015027 -0.001077
0 -0.002133 -0.001543 0.001067
0 0.000973 0.000649 0.000598
0 0.000813 0.000421 0.000793
0 -0.012973 0.000285 -0.000496
0 -0.005099 0.007859 -0.001949
0 0.000868 0.000184 0.006175
0 -0.000279 6.671E-05 -4.55E-05
0 0.000186 0.000574 0.000576
0 0.048296 0.023548 0.027269
0 0.037519 -0.020385 -0.011419
0 0.000483 0.000927 0.002258
0 0.006488 -0.055005 -0.028392
0 -0.007476 -0.007983 0.028569
0 0.000187 -0.001394 -0.002637
0 -0.001616 0.004881 -0.001258
0 0.00517 -0.000626 -0.001555
0 0.00454 0.001211 0.001766
0 0.000318 0.002323 0.000465
0 0.013821 0.031813 0.040568
0 0.003268 0.007554 0.010288
0 -0.000528 -0.000157 0.000457
0 -0.006354 0.000995 -0.001699
0 0.009544 -0.00684 -0.006261
0 0.006774 0.013972 0.015903
0 -0.005618 0.000342 -7.2E-05
0 -0.007983 -0.01602 0.003805
0 -0.004362 0.039077 -0.001686
0 0.002981 0.012984 0.002598
0 -4.8E-05 0.000336 -6.06E-05
0 -0.001315 0.006924 -0.000915
0 -0.003124 -0.000293 8.921E-05
 0 0.004721 0.007116 0.001338
0 0.001671 0.002779 0.001236
0 -0.000375 -0.028269 0.000489
0 0.014899 0.033926 0.010549
0 -0.012766 0.019825 -0.01147
0 0.003587 0.005654 0.009697
0 -0.00567 0.05224 -0.006362
0 0.00061 0.020042 0.001422
0 -0.000297 0.001679 -0.000612
0 0.00134 -0.007033 -0.002103
0 0.001193 0.001114 0.000351
0 0.019675 0.013441 0.054545
0 -0.002516 -0.009074 0.005286
0 0.009186 0.002784 0.008244
0 -0.005284 -0.011753 0.052185
0 -0.001554 -0.007305 0.034991
0 -0.09256 -0.021604 0.006492
0 -0.00011 -0.002603 3.145E-05
0 0.002672 -0.011486 -0.006507
0 0.236296 0.07028 0.039814
0 -0.001391 -9.24E-05 0.003601
0 -0.007794 0.001703 -0.006377
0 0.020236 -0.011872 -0.008547
0 -0.000532 6.346E-05 -0.002689
0 -0.000214 0.001677 -0.002833
0 -0.001514 -0.000406 0.002692
0 -6.8E-05 0.000117 -0.000541
0 0.067107 0.109432 0.075105
0 0.019983 0.048821 0.036887
0 0.021373 0.028367 0.005311
0 0.03955 -0.00854 -0.001317
0 0.071393 0.135191 0.037301
0 0.03745 0.030888 0.020488
0.012557007 0.003424 0.006406 0.002442
0.002663486 -0.005579 -0.003926 0.003918
-0.00157179 -0.000837 0.004536 -0.002123
0.060078846 0.000288 0.139623 0.001148
-0.19033893 0.013767 -0.204386 -0.083512
0.17633575 -0.015327 -0.133381 0.074676
-0.03427347 6.192E-05 0.001033 0.000838
-0.00226898 0.018973 0.030035 0.012261
-0.00262632 0.018857 0.030054 0.013378
-0.01676913 0.012738 0.040397 0.015608
-9.1126E-05 0.000567 0.001386 0.000182
-0.00227168 0.000748 -6.07E-05 -0.001169
0.030220209 0.005118 0.025151 0.007134
-4.8487E-05 0.0155 0.000334 8.569E-05
0.012759607 0.010075 0.012635 0.003859
0.038536647 0.008157 0.020195 0.006638
-0.01320631 -0.007939 0.005176 -0.00132
0.003759993 -0.003239 0.001106 -0.000244
-0.02909107 0.02643 -0.069293 -0.014143
0.002913943 0.048544 0.03123 0.013435
0.006769272 0.008497 0.008905 0.011219
0.15936114 0.218932 0.2822 0.176083
0.007651523 0.264724 0.342461 0.170622
0.001337004 0.002337 0.005692 0.003993
0.000620257 0.008156 0.007704 0.008052
0.018907154 -0.00255 0.002806 -0.001538
-0.0027386 0.001315 0.004188 0.003877
0.004429612 -0.005164 -0.011124 0.007371
0.014436496 -0.000348 -0.02456 0.000177
0.09180528 0.113814 0.237324 0.067647
0.016716467 -0.003555 0.047777 -0.00619
-0.00038386 -0.130161 0.264472 -0.009086
0.08766141 0.027371 0.028848 0.063919
0.023964132 -0.000307 -0.00062 0.007935
0.000390104 0.001446 8.084E-05 0.000514
-0.0022937 0.002487 0.00343 0.00031
0.033645725 0.008973 0.013481 0.00873
0.000733307 0.000491 -0.000107 -0.000309
0.016086818 0.010575 0.023706 0.007437
0.013100504 0.004817 0.016396 0.004411
0.028265307 0.011921 0.039294 0.019242
-0.00435533 0.007527 -0.003981 -0.001356
0.015049323 0.001712 0.00594 0.023987
0.001452094 0.005077 0.010352 0.002023

0.579879636 1.273603 1.845338 1.1003

0.004872938 0.010703 0.015507 0.009246

1
2
3
1
2
3
4
5
6
 Bay leasing BD AutocarsAMCL PRANBDCOM
Year Month Ri - E(Ri) Ri - E(Ri) Ri - E(Ri) Ri - E(Ri)
2003 January C*D C*E C*F
February -8.65% -0.69% -2.68% 0.00% 0.00% 0.00%
March -17.32% -6.03% -10.34% 0.00% 0.00% 0.00%
April 42.27% 8.09% 7.27% 0.00% 0.00% 0.00%
May 3.28% 4.03% 13.33% 0.00% 0.00% 0.00%
June -5.94% 11.34% 2.47% 0.00% 0.00% 0.00%
July -2.88% -10.82% -8.97% 0.00% 0.00% 0.00%
August -13.34% -0.60% -15.74% 0.00% 0.00% 0.00%
September 16.49% -1.73% -7.61% 0.00% 0.00% 0.00%
October -3.80% 1.13% 16.95% 0.00% 0.00% 0.00%
November 15.99% 1.45% 9.49% 0.00% 0.00% 0.00%
December -12.79% 0.92% -11.75% 0.00% 0.00% 0.00%
2004 January 5.55% -3.84% -2.78% 0.00% 0.00% 0.00%
February -3.25% -2.99% -2.00% 0.00% 0.00% 0.00%
March -2.08% -3.92% -2.02% 0.00% 0.00% 0.00%
April -8.63% 15.03% -0.33% 0.00% 0.00% 0.00%
May 14.34% -3.56% 5.48% 0.00% 0.00% 0.00%
June 0.51% 17.04% 3.62% 0.00% 0.00% 0.00%
July -2.02% 1.38% -0.33% 0.00% 0.00% 0.00%
August 1.36% 1.37% 4.22% 0.00% 0.00% 0.00%
September 20.42% 23.65% 11.53% 0.00% 0.00% 0.00%
October -25.88% -14.50% 7.88% 0.00% 0.00% 0.00%
November -1.41% -3.43% -6.58% 0.00% 0.00% 0.00%
December -11.21% -5.79% 49.06% 0.00% 0.00% 0.00%
2005 January 4.57% -16.36% -17.47% 0.00% 0.00% 0.00%
February -0.99% -1.88% 14.01% 0.00% 0.00% 0.00%
March -7.92% 2.04% -6.16% 0.00% 0.00% 0.00%
April -4.56% -11.33% 1.37% 0.00% 0.00% 0.00%
May 5.58% 8.14% 2.17% 0.00% 0.00% 0.00%
June -3.99% -0.80% -5.83% 0.00% 0.00% 0.00%
July -10.41% -13.28% -30.56% 0.00% 0.00% 0.00%
August 4.90% 6.67% 15.42% 0.00% 0.00% 0.00%
September -1.35% 3.92% 1.17% 0.00% 0.00% 0.00%
October 6.10% -10.42% 1.63% 0.00% 0.00% 0.00%
November -10.21% -9.35% 6.70% 0.00% 0.00% 0.00%
December -7.71% -8.78% -18.11% 0.00% 0.00% 0.00%
2006 January 16.33% -3.44% 0.21% 0.00% 0.00% 0.00%
February 18.33% -4.35% -8.74% 0.00% 0.00% 0.00%
March 31.80% -1.37% 12.29% 0.00% 0.00% 0.00%
April -12.21% -2.44% -10.64% 0.00% 0.00% 0.00%
May -1.63% 0.29% -2.06% 0.00% 0.00% 0.00%
June -9.98% 1.32% -6.94% 0.00% 0.00% 0.00%
July -10.13% 3.08% 0.29% 0.00% 0.00% 0.00%
 August 15.85% 2.98% 4.49% 0.00% 0.00% 0.00%
September -6.13% -2.73% -4.53% 0.00% 0.00% 0.00%
October 14.74% -0.25% -19.18% 0.00% 0.00% 0.00%
November -21.89% -6.81% -15.50% 0.00% 0.00% 0.00%
December 14.85% -8.59% 13.35% 0.00% 0.00% 0.00%
2007 January 4.57% 7.84% 12.36% 0.00% 0.00% 0.00%
February 21.58% -2.63% 24.21% 0.00% 0.00% 0.00%
March -9.27% -0.66% -21.61% 0.00% 0.00% 0.00%
April 2.85% -1.04% 5.88% 0.00% 0.00% 0.00%
May -6.69% -2.00% 10.51% 0.00% 0.00% 0.00%
June 6.16% 1.94% 1.81% 0.00% 0.00% 0.00%
July 6.96% 28.26% 19.30% 0.00% 0.00% 0.00%
August 6.57% -3.83% -13.81% 0.00% 0.00% 0.00%
September 5.57% 16.49% 5.00% 0.00% 0.00% 0.00%
October -3.45% 15.32% 34.07% 0.00% 0.00% 0.00%
November 1.80% -8.63% -40.56% 0.00% 0.00% 0.00%
December 55.50% -16.68% -3.89% 0.00% 0.00% 0.00%
2008 January -9.53% 0.12% 2.73% 0.00% 0.00% 0.00%
February -6.87% -3.89% 16.72% 0.00% 0.00% 0.00%
March 64.58% 36.59% 10.88% 0.00% 0.00% 0.00%
April -0.60% 23.29% 1.55% 0.00% 0.00% 0.00%
May -4.56% 17.09% -3.73% 0.00% 0.00% 0.00%
June -16.77% -12.07% 7.08% 0.00% 0.00% 0.00%
July 0.35% -15.02% 1.79% 0.00% 0.00% 0.00%
August 1.13% -1.90% 14.89% 0.00% 0.00% 0.00%
September -1.51% 10.02% 2.69% 0.00% 0.00% 0.00%
October 0.38% -1.77% 3.05% 0.00% 0.00% 0.00%
November -31.27% -21.46% -35.00% 0.00% 0.00% 0.00%
December 16.26% 12.29% 30.02% 0.00% 0.00% 0.00%
2009 January 33.79% 6.33% 8.40% 0.00% 0.00% 0.00%
February 50.63% 7.81% -1.69% 0.00% 0.00% 0.00%
March 50.87% 14.04% 26.58% 0.00% 0.00% 0.00%
April -23.76% -15.76% -13.00% 0.00% 0.00% 0.00%
May 18.58% 9.48% 3.61% 6.76% 1.76% 0.67% 1.26%
June 5.07% -7.48% 7.46% 5.25% -0.38% 0.38% 0.27%
July -1.47% 4.23% -1.98% 10.73% -0.06% 0.03% -0.16%
August 8.05% 18.71% 0.15% 74.62% 1.51% 0.01% 6.01%
September 17.09% 18.36% 7.50% -111.35% 3.14% 1.28% -19.03%
October 21.87% -16.55% 9.26% 80.61% -3.62% 2.03% 17.63%
November 28.98% -0.87% -0.71% -11.83% -0.25% -0.21% -3.43%
December 1.63% -21.56% -8.80% -13.93% -0.35% -0.14% -0.23%
2010 January -1.80% 20.58% 9.16% 14.60% -0.37% -0.16% -0.26%
February 7.54% -18.16% -7.02% -22.25% -1.37% -0.53% -1.68%
March -0.43% 6.58% 0.86% 2.11% -0.03% 0.00% -0.01%
April 23.33% 0.62% 12.01% -0.97% 0.15% 2.80% -0.23%
 May -16.14% -13.43% -3.81% -18.72% 2.17% 0.61% 3.02%
June 3.57% -24.57% -6.31% -0.14% -0.88% -0.23% 0.00%
July 18.34% 18.16% 5.55% 6.96% 3.33% 1.02% 1.28%
August 30.06% 15.75% 5.18% 12.82% 4.73% 1.56% 3.85%
September -45.01% 17.64% -4.50% 2.93% -7.94% 2.03% -1.32%
October 41.17% 12.11% -2.67% 0.91% 4.99% -1.10% 0.38%
November 15.11% 35.99% 7.34% -19.26% 5.44% 1.11% -2.91%
December -3.13% -33.59% -14.45% -9.30% 1.05% 0.45% 0.29%
2011 January -6.24% -8.21% -10.35% -10.84% 0.51% 0.65% 0.68%
February -33.45% -59.23% -36.96% -47.64% 19.81% 12.36% 15.94%
March 1.63% 72.89% 36.32% 46.98% 1.19% 0.59% 0.77%
April -1.36% -5.77% -4.05% -9.86% 0.08% 0.05% 0.13%
May -0.71% -8.83% -9.23% -8.72% 0.06% 0.07% 0.06%
June -45.96% -6.82% 3.74% -4.11% 3.13% -1.72% 1.89%
July -2.46% 3.77% 3.49% 11.11% -0.09% -0.09% -0.27%
August -3.52% 8.83% -5.85% -12.60% -0.31% 0.21% 0.44%
September -12.92% 21.98% -0.16% -11.17% -2.84% 0.02% 1.44%
October -24.44% -63.19% -18.01% -37.56% 15.45% 4.40% 9.18%
November 5.80% 16.57% -2.15% 28.84% 0.96% -0.12% 1.67%
December 0.28% -194.65% 6.69% -13.59% -0.55% 0.02% -0.04%
2012 January -33.77% -11.11% -24.63% -25.96% 3.75% 8.32% 8.77%
February 18.94% -0.49% 6.27% 12.65% -0.09% 1.19% 2.40%
March 7.28% 1.51% 9.59% 0.54% 0.11% 0.70% 0.04%
April 11.09% -16.58% -1.50% -2.07% -1.84% -0.17% -0.23%
May -29.38% -11.77% -7.62% -11.45% 3.46% 2.24% 3.36%
June -8.93% 1.31% 3.76% -0.82% -0.12% -0.34% 0.07%
July -12.46% -18.36% -5.76% -12.91% 2.29% 0.72% 1.61%
August 10.69% 13.38% 3.60% 12.25% 1.43% 0.38% 1.31%
September 11.22% 15.60% 7.64% 25.18% 1.75% 0.86% 2.83%
October -16.26% -14.87% -5.06% 2.68% 2.42% 0.82% -0.44%
November -5.22% -2.06% -8.31% -28.85% 0.11% 0.43% 1.50%
December -2.26% -16.12% -3.15% -6.42% 0.36% 0.07% 0.15%

Total 64.05% 43.27% 57.99%

Covariance 0.54% 0.36% 0.49%

D*E D*F E*F
0.06% 0.23% 0.02%
1.04% 1.79% 0.62%
3.42% 3.07% 0.59%
0.13% 0.44% 0.54%
-0.67% -0.15% 0.28%
0.31% 0.26% 0.97%
0.08% 2.10% 0.10%
-0.29% -1.25% 0.13%
-0.04% -0.64% 0.19%
0.23% 1.52% 0.14%
-0.12% 1.50% -0.11%
-0.21% -0.15% 0.11%
0.10% 0.06% 0.06%
0.08% 0.04% 0.08%
-1.30% 0.03% -0.05%
-0.51% 0.79% -0.19%
0.09% 0.02% 0.62%
-0.03% 0.01% 0.00%
0.02% 0.06% 0.06%
4.83% 2.35% 2.73%
3.75% -2.04% -1.14%
0.05% 0.09% 0.23%
0.65% -5.50% -2.84%
-0.75% -0.80% 2.86%
0.02% -0.14% -0.26%
-0.16% 0.49% -0.13%
0.52% -0.06% -0.16%
0.45% 0.12% 0.18%
0.03% 0.23% 0.05%
1.38% 3.18% 4.06%
0.33% 0.76% 1.03%
-0.05% -0.02% 0.05%
-0.64% 0.10% -0.17%
0.95% -0.68% -0.63%
0.68% 1.40% 1.59%
-0.56% 0.03% -0.01%
-0.80% -1.60% 0.38%
-0.44% 3.91% -0.17%
0.30% 1.30% 0.26%
0.00% 0.03% -0.01%
-0.13% 0.69% -0.09%
-0.31% -0.03% 0.01%
 0.47% 0.71% 0.13%
0.17% 0.28% 0.12%
-0.04% -2.83% 0.05%
1.49% 3.39% 1.05%
-1.28% 1.98% -1.15%
0.36% 0.57% 0.97%
-0.57% 5.22% -0.64%
0.06% 2.00% 0.14%
-0.03% 0.17% -0.06%
0.13% -0.70% -0.21%
0.12% 0.11% 0.04%
1.97% 1.34% 5.45%
-0.25% -0.91% 0.53%
0.92% 0.28% 0.82%
-0.53% -1.18% 5.22%
-0.16% -0.73% 3.50%
-9.26% -2.16% 0.65%
-0.01% -0.26% 0.00%
0.27% -1.15% -0.65%
23.63% 7.03% 3.98%
-0.14% -0.01% 0.36%
-0.78% 0.17% -0.64%
2.02% -1.19% -0.85%
-0.05% 0.01% -0.27%
-0.02% 0.17% -0.28%
-0.15% -0.04% 0.27%
-0.01% 0.01% -0.05%
6.71% 10.94% 7.51%
2.00% 4.88% 3.69%
2.14% 2.84% 0.53%
3.96% -0.85% -0.13%
7.14% 13.52% 3.73%
3.75% 3.09% 2.05%
0.34% 0.64% 0.24%
-0.56% -0.39% 0.39%
-0.08% 0.45% -0.21%
0.03% 13.96% 0.11%
1.38% -20.44% -8.35%
-1.53% -13.34% 7.47%
0.01% 0.10% 0.08%
1.90% 3.00% 1.23%
1.89% 3.01% 1.34%
1.27% 4.04% 1.56%
0.06% 0.14% 0.02%
0.07% -0.01% -0.12%
 0.51% 2.52% 0.71%
1.55% 0.03% 0.01%
1.01% 1.26% 0.39%
0.82% 2.02% 0.66%
-0.79% 0.52% -0.13%
-0.32% 0.11% -0.02%
2.64% -6.93% -1.41%
4.85% 3.12% 1.34%
0.85% 0.89% 1.12%
21.89% 28.22% 17.61%
26.47% 34.25% 17.06%
0.23% 0.57% 0.40%
0.82% 0.77% 0.81%
-0.25% 0.28% -0.15%
0.13% 0.42% 0.39%
-0.52% -1.11% 0.74%
-0.03% -2.46% 0.02%
11.38% 23.73% 6.76%
-0.36% 4.78% -0.62%
-13.02% 26.45% -0.91%
2.74% 2.88% 6.39%
-0.03% -0.06% 0.79%
0.14% 0.01% 0.05%
0.25% 0.34% 0.03%
0.90% 1.35% 0.87%
0.05% -0.01% -0.03%
1.06% 2.37% 0.74%
0.48% 1.64% 0.44%
1.19% 3.93% 1.92%
0.75% -0.40% -0.14%
0.17% 0.59% 2.40%
0.51% 1.04% 0.20%

127.36% 184.53% 110.03%

1.07% 1.55% 0.92%

Year Month DGEN Return Risk free rate Excess return Bay leasing Risk free rate
2003 January 0.25% 0.25%
February -0.000842356 0.25% -0.33% 0.25%
March -0.072031951 0.25% -7.45% 0.25%
April 0.048229365 0.25% 4.57% 0.25%
May 0.0047605874 0.25% 0.23% 0.25%
June 0.047797232 0.25% 4.53% 0.25%
July -0.037393037 0.25% -3.99% 0.25%
August -0.008612193 0.25% -1.11% 0.25%
September -0.004270757 0.25% -0.68% 0.25%
October 0.0144941916 0.25% 1.20% 0.25%
November 0.1388385249 0.25% 13.63% 0.25%
December 0.0500716188 0.25% 4.76% 0.25%
2004 January -0.006946416 0.25% -0.94% 0.25%
February -0.007697206 0.25% -1.02% 0.25%
March 0.0208236026 0.25% 1.83% 0.25%
April 0.1327982308 0.25% 13.03% 0.25%
May 0.0641119068 0.25% 6.16% 0.25%
June 0.1063701396 0.25% 10.39% 0.25%
July -0.022837762 0.25% -2.53% 0.25%
August 0.1603107592 0.25% 15.78% 0.25%
September 0.0761449727 0.25% 7.36% 0.25%
October 0.0463254325 0.25% 4.38% 0.25%
November 0.0929449017 0.25% 9.04% 0.25%
December 0.0489969009 0.25% 4.65% 0.25%
2005 January -0.066789447 0.25% -6.93% 0.25%
February -0.004526022 0.25% -0.70% 0.25%
March 0.0445532203 0.25% 4.21% 0.25%
April -0.221537706 0.25% -22.40% 0.25%
May 0.1517055396 0.25% 14.92% 0.25%
June -0.043758426 0.25% -4.63% 0.25%
July -0.12616296 0.25% -12.87% 0.25%
August 0.0660186914 0.25% 6.35% 0.25%
September 0.0365427499 0.25% 3.40% 0.25%
October 0.0127131617 0.25% 1.02% 0.25%
November -0.000116599 0.25% -0.26% 0.25%
December -0.010125332 0.25% -1.26% 0.25%
2006 January -0.020484411 0.25% -2.30% 0.25%
February -0.070528817 0.25% -7.30% 0.25%
March -0.026238605 0.25% -2.87% 0.25%
April -0.091545247 0.25% -9.40% 0.25%
May -0.004587113 0.25% -0.71% 0.25%
June -0.011519633 0.25% -1.40% 0.25%
July 0.0490133891 0.25% 4.65% 0.25%
August 0.1205711199 0.25% 11.81% 0.25%
 September -0.015589547 0.25% -1.81% 0.25%
October -0.013453031 0.25% -1.60% 0.25%
November -0.009358348 0.25% -1.19% 0.25%
December 0.0524348618 0.25% 4.99% 0.25%
2007 January 0.1146972756 0.25% 11.22% 0.25%
February -0.007549371 0.25% -1.00% 0.25%
March -0.017266521 0.25% -1.98% 0.25%
April -0.010015049 0.25% -1.25% 0.25%
May 0.1391418767 0.25% 13.66% 0.25%
June 0.0702123073 0.25% 6.77% 0.25%
July 0.1037056804 0.25% 10.12% 0.25%
August 0.0293060233 0.25% 2.68% 0.25%
September 0.0372199266 0.25% 3.47% 0.25%
October 0.1122226795 0.25% 10.97% 0.25%
November 0.0413315188 0.25% 3.88% 0.25%
December 0.015397545 0.25% 1.29% 0.25%
2008 January -0.03715473 0.25% -3.97% 0.25%
February 0.0082956853 0.25% 0.58% 0.25%
March 0.0286192317 0.25% 2.61% 0.25%
April 0.0185118693 0.25% 1.60% 0.25%
May 0.0304925689 0.25% 2.80% 0.25%
June -0.054320117 0.25% -5.68% 0.25%
July -0.068648309 0.25% -7.11% 0.25%
August -0.003654786 0.25% -0.62% 0.25%
September 0.0610149589 0.25% 5.85% 0.25%
October -0.076399183 0.25% -7.89% 0.25%
November -0.107310685 0.25% -10.98% 0.25%
December 0.1241720086 0.25% 12.17% 0.25%
2009 January -0.053583416 0.25% -5.61% 0.25%
February -0.030087812 0.25% -3.26% 0.25%
March -0.049449951 0.25% -5.19% 0.25%
April 0.0429688527 0.25% 4.05% 0.25%
May 0.0069540497 0.25% 0.45% 0.1694990087 0.25%
June 0.1572738 0.25% 15.48% 0.0344366883 0.25%
July -0.032317861 0.25% -3.48% -0.0309391621 0.25%
August 0.0091362195 0.25% 0.66% 0.0642293375 0.25%
September 0.0473444287 0.25% 4.48% 0.1546572753 0.25%
October 0.087018096 0.25% 8.45% 0.2024541354 0.25%
November 0.2640565572 0.25% 26.16% 0.2735506188 0.25%
December 0.0346771806 0.25% 3.22% 0 0.25%
2010 January 0.1683466234 0.25% 16.58% -0.0342721873 0.25%
February 0.0354100527 0.25% 3.29% 0.0590852208 0.25%
March 0.003908009 0.25% 0.14% -0.0206104333 0.25%
April 0.0129113789 0.25% 1.04% 0.2169639764 0.25%
May 0.0770505178 0.25% 7.46% -0.1776876444 0.25%
 June 0.0074809341 0.25% 0.50% 0.0194154119 0.25%
July 0.0302638544 0.25% 2.78% 0.167138001 0.25%
August 0.0485016759 0.25% 4.60% 0.2843014945 0.25%
September 0.0639105475 0.25% 6.14% -0.4664153886 0.25%
October 0.1143413413 0.25% 11.18% 0.3954483299 0.25%
November 0.0779787874 0.25% 7.55% 0.1347889908 0.25%
December -0.036946287 0.25% -3.94% -0.0476300358 0.25%
2011 January -0.102301912 0.25% -10.48% -0.0787122532 0.25%
February -0.363546173 0.25% -36.60% -0.3507899796 0.25%
March 0.199534066 0.25% 19.70% 0 0.25%
April -0.048587709 0.25% -5.11% -0.0298450075 0.25%
May -0.049561952 0.25% -5.21% -0.0233984814 0.25%
June 0.0604739462 0.25% 5.80% -0.4758632108 0.25%
July 0.054460979 0.25% 5.20% -0.0409334089 0.25%
August -0.039088544 0.25% -4.16% -0.0514399112 0.25%
September -0.049802361 0.25% -5.23% -0.1454722524 0.25%
October -0.159969059 0.25% -16.25% -0.2607262625 0.25%
November 0.0450449704 0.25% 4.25% 0.0416726964 0.25%
December -0.053049602 0.25% -5.55% -0.0134610605 0.25%
2012 January -0.184643326 0.25% -18.71% -0.3540291705 0.25%
February 0.1225220321 0.25% 12.00% 0.1731331307 0.25%
March 0.060915861 0.25% 5.84% 0.0564934255 0.25%
April 0.0215246367 0.25% 1.90% 0.0945755878 0.25%
May -0.074184742 0.25% -7.67% -0.3100747648 0.25%
June -0.034698036 0.25% -3.72% -0.105583208 0.25%
July -0.09482805 0.25% -9.73% -0.1408761486 0.25%
August 0.0668857508 0.25% 6.44% 0.0906372741 0.25%
September 0.0216965841 0.25% 1.92% 0.0959486815 0.25%
October -0.011171648 0.25% -1.37% -0.1789230828 0.25%
November -0.065124722 0.25% -6.76% -0.0684477638 0.25%
December 0.0020718342 0.25% -0.04% -0.0388937911 0.25%

Bay leasing BD Autocars AMCL PRAN BDCOM

Covariance 0.0102930218 0.0068385894 0.0053135651 0.0065244224

Variance 0.0069868043 0.0069868043 0.0069868043 0.0069868043
Beta 1.4732088365 0.9787864616 0.7605143725 0.9338206903

1
2
1
2
3
4
Excess return BD Autocars Risk free rate Excess return AMCL PRAN Risk free rate Excess return
0.25% 0.25%
-0.0915927 0.25% -9.41% 0.003529831 0.25% 0.10%
-0.17824823 0.25% -18.07% -0.04984781 0.25% -5.23%
0.417586469 0.25% 41.51% 0.091261591 0.25% 8.88%
0.027724548 0.25% 2.52% 0.050752242 0.25% 4.83%
-0.06453852 0.25% -6.70% 0.123763404 0.25% 12.13%
-0.03390155 0.25% -3.64% -0.09775496 0.25% -10.03%
-0.13846967 0.25% -14.10% 0.00437364 0.25% 0.19%
0.159792444 0.25% 15.73% -0.00688148 0.25% -0.94%
-0.04311012 0.25% -4.56% 0.021733237 0.25% 1.92%
0.154779809 0.25% 15.23% 0.024872377 0.25% 2.24%
-0.13299245 0.25% -13.55% 0.019579385 0.25% 1.71%
0.050430854 0.25% 4.79% -0.02800302 0.25% -3.05%
-0.03758271 0.25% -4.01% -0.01952472 0.25% -2.20%
-0.02586351 0.25% -2.84% -0.02875198 0.25% -3.13%
-0.09138775 0.25% -9.39% 0.160741828 0.25% 15.82%
0.138304671 0.25% 13.58% -0.02515168 0.25% -2.77%
0 0.25% -0.25% 0.180843906 0.25% 17.83%
-0.02531781 0.25% -2.78% 0.02419657 0.25% 2.17%
0.00851069 0.25% 0.60% 0.024065332 0.25% 2.16%
0.199128675 0.25% 19.66% 0.246901358 0.25% 24.44%
-0.26389321 0.25% -26.64% -0.13456392 0.25% -13.71%
-0.01916992 0.25% -2.17% -0.023896 0.25% -2.64%
-0.11720716 0.25% -11.97% -0.04746094 0.25% -5.00%
0.040614719 0.25% 3.81% -0.15316497 0.25% -15.57%
-0.01503788 0.25% -1.75% -0.00840965 0.25% -1.09%
-0.08426034 0.25% -8.68% 0.030816819 0.25% 2.83%
-0.05071509 0.25% -5.32% -0.10290154 0.25% -10.54%
0.050715093 0.25% 4.82% 0.091760715 0.25% 8.93%
-0.04495139 0.25% -4.75% 0.002432499 0.25% -0.01%
-0.10919929 0.25% -11.17% -0.12234884 0.25% -12.48%
0.043894194 0.25% 4.14% 0.077123739 0.25% 7.46%
-0.01857639 0.25% -2.11% 0.049588741 0.25% 4.71%
0.055907632 0.25% 5.34% -0.09376324 0.25% -9.63%
-0.10720093 0.25% -10.97% -0.08305823 0.25% -8.56%
-0.0822381 0.25% -8.47% -0.07739994 0.25% -7.99%
0.158224005 0.25% 15.57% -0.02399105 0.25% -2.65%
0.178248231 0.25% 17.57% -0.03313067 0.25% -3.56%
0.312872321 0.25% 31.04% -0.00330798 0.25% -0.58%
-0.12715518 0.25% -12.97% -0.01401424 0.25% -1.65%
-0.02141409 0.25% -2.39% 0.013351333 0.25% 1.09%
-0.10487963 0.25% -10.74% 0.023592182 0.25% 2.11%
-0.10642946 0.25% -10.89% 0.041236416 0.25% 3.87%
0.153386446 0.25% 15.09% 0.040200297 0.25% 3.77%
 -0.06637507 0.25% -6.89% -0.01685771 0.25% -1.94%
0.142316222 0.25% 13.98% 0.007862151 0.25% 0.54%
-0.22399425 0.25% -22.65% -0.05765464 0.25% -6.02%
0.143455391 0.25% 14.10% -0.07553258 0.25% -7.80%
0.040637646 0.25% 3.81% 0.088844978 0.25% 8.63%
0.210676783 0.25% 20.82% -0.01586831 0.25% -1.84%
-0.09782229 0.25% -10.03% 0.003831422 0.25% 0.13%
0.023438573 0.25% 2.09% 0 0.25% -0.25%
-0.07203113 0.25% -7.45% -0.00960622 0.25% -1.21%
0.056466612 0.25% 5.40% 0.029796182 0.25% 2.73%
0.064538521 0.25% 6.20% 0.29297721 0.25% 29.05%
0.060624622 0.25% 5.81% -0.02787802 0.25% -3.04%
0.050601013 0.25% 4.81% 0.175349537 0.25% 17.28%
-0.0395892 0.25% -4.21% 0.163583903 0.25% 16.11%
0.012920955 0.25% 1.04% -0.07586911 0.25% -7.84%
0.549916391 0.25% 54.74% -0.15636307 0.25% -15.89%
-0.10039129 0.25% -10.29% 0.011560822 0.25% 0.91%
-0.07377646 0.25% -7.63% -0.02849934 0.25% -3.10%
0.640754246 0.25% 63.83% 0.376280013 0.25% 37.38%
-0.01106342 0.25% -1.36% 0.243264475 0.25% 24.08%
-0.05070795 0.25% -5.32% 0.181260173 0.25% 17.88%
-0.17274468 0.25% -17.52% -0.11028906 0.25% -11.28%
-0.00154679 0.25% -0.40% -0.13976194 0.25% -14.23%
0.006172859 0.25% 0.37% -0.00862293 0.25% -1.11%
-0.02020271 0.25% -2.27% 0.11056853 0.25% 10.81%
-0.00125668 0.25% -0.38% -0.00732436 0.25% -0.98%
-0.31778593 0.25% -32.03% -0.20419939 0.25% -20.67%
0.157538947 0.25% 15.50% 0.133284814 0.25% 13.08%
0.332775375 0.25% 33.03% 0.073667502 0.25% 7.12%
0.501256173 0.25% 49.88% 0.08851845 0.25% 8.60%
0.503587956 0.25% 50.11% 0.150759981 0.25% 14.83%
-0.24270408 0.25% -24.52% -0.14720163 0.25% -14.97%
16.70% 0.089682703 0.25% 8.72% 0.04653901 0.25% 4.40%
3.19% -0.07985461 0.25% -8.24% 0.085031623 0.25% 8.25%
-3.34% 0.03719685 0.25% 3.47% -0.00938628 0.25% -1.19%
6.17% 0.182027049 0.25% 17.95% 0.011947573 0.25% 0.94%
15.22% 0.178468619 0.25% 17.60% 0.08541134 0.25% 8.29%
20.00% -0.1705472 0.25% -17.30% 0.103042784 0.25% 10.05%
27.11% -0.01382985 0.25% -1.63% 0.003323768 0.25% 0.08%
-0.25% -0.22067746 0.25% -22.32% -0.07759473 0.25% -8.01%
-3.68% 0.200726672 0.25% 19.82% 0.102029792 0.25% 9.95%
5.66% -0.18666346 0.25% -18.92% -0.05974188 0.25% -6.22%
-2.31% 0.060660337 0.25% 5.82% 0.019036402 0.25% 1.65%
21.45% 0.001142205 0.25% -0.14% 0.130460609 0.25% 12.80%
-18.02% -0.13941954 0.25% -14.19% -0.02769429 0.25% -3.02%
 1.69% -0.25075216 0.25% -25.33% -0.05268486 0.25% -5.52%
16.46% 0.176543231 0.25% 17.40% 0.065877301 0.25% 6.34%
28.18% 0.1524329 0.25% 14.99% 0.062189348 0.25% 5.97%
-46.89% 0.17133914 0.25% 16.88% -0.03458746 0.25% -3.71%
39.29% 0.116009139 0.25% 11.35% -0.01633454 0.25% -1.88%
13.23% 0.354761068 0.25% 35.23% 0.083856658 0.25% 8.14%
-5.01% -0.34101639 0.25% -34.35% -0.13409901 0.25% -13.66%
-8.12% -0.0872155 0.25% -8.97% -0.0930558 0.25% -9.56%
-35.33% -0.59743621 0.25% -59.99% -0.35919297 0.25% -36.17%
-0.25% 0.723837884 0.25% 72.13% 0.373577253 0.25% 37.11%
-3.23% -0.0628129 0.25% -6.53% -0.03008566 0.25% -3.26%
-2.59% -0.0934269 0.25% -9.59% -0.08191712 0.25% -8.44%
-47.84% -0.07329287 0.25% -7.58% 0.047791809 0.25% 4.53%
-4.34% 0.032597062 0.25% 3.01% 0.045298614 0.25% 4.28%
-5.39% 0.083192317 0.25% 8.07% -0.04808619 0.25% -5.06%
-14.80% 0.214689923 0.25% 21.22% 0.008827914 0.25% 0.63%
-26.32% -0.63698675 0.25% -63.95% -0.16970615 0.25% -17.22%
3.92% 0.160561295 0.25% 15.81% -0.01105412 0.25% -1.36%
-1.60% -1.95158303 0.25% -195.41% 0.077278781 0.25% 7.48%
-35.65% -0.11623556 0.25% -11.87% -0.23585944 0.25% -23.84%
17.06% -0.00999009 0.25% -1.25% 0.073128124 0.25% 7.06%
5.40% 0.009990093 0.25% 0.75% 0.106294659 0.25% 10.38%
9.21% -0.17085671 0.25% -17.34% -0.00459419 0.25% -0.71%
-31.26% -0.12280743 0.25% -12.53% -0.06581844 0.25% -6.83%
-10.81% 0.00796817 0.25% 0.55% 0.048009219 0.25% 4.55%
-14.34% -0.18869101 0.25% -19.12% -0.04718988 0.25% -4.97%
8.81% 0.12872754 0.25% 12.62% 0.046408327 0.25% 4.39%
9.34% 0.150935243 0.25% 14.84% 0.086815893 0.25% 8.43%
-18.14% -0.15374818 0.25% -15.62% -0.0402248 0.25% -4.27%
-7.09% -0.02567901 0.25% -2.82% -0.07273119 0.25% -7.52%
-4.14% -0.16626617 0.25% -16.88% -0.02108756 0.25% -2.36%

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2
1
2
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4
BDCOM Risk free rate Excess return
0.25%
-0.02353 0.25% -2.60%
-0.100083 0.25% -10.26%
0.075986 0.25% 7.35%
0.136576 0.25% 13.41%
0.027974 0.25% 2.55%
-0.086385 0.25% -8.89%
-0.154151 0.25% -15.67%
-0.072759 0.25% -7.53%
0.172843 0.25% 17.03%
0.098192 0.25% 9.57%
-0.114192 0.25% -11.67%
-0.024491 0.25% -2.70%
-0.016667 0.25% -1.92%
-0.01695 0.25% -1.94%
0 0.25% -0.25%
0.058108 0.25% 5.56%
0.039531 0.25% 3.70%
0 0.25% -0.25%
0.045462 0.25% 4.30%
0.118606 0.25% 11.61%
0.082065 0.25% 7.96%
-0.06252 0.25% -6.50%
0.493909 0.25% 49.14%
-0.171358 0.25% -17.39%
0.143412 0.25% 14.09%
-0.05835 0.25% -6.08%
0.017022 0.25% 1.45%
0.025001 0.25% 2.25%
-0.054982 0.25% -5.75%
-0.302281 0.25% -30.48%
0.157506 0.25% 15.50%
0.014963 0.25% 1.25%
0.019608 0.25% 1.71%
0.070287 0.25% 6.78%
-0.177807 0.25% -18.03%
0.005391 0.25% 0.29%
-0.084083 0.25% -8.66%
0.126195 0.25% 12.37%
-0.103072 0.25% -10.56%
-0.017291 0.25% -1.98%
-0.06609 0.25% -6.86%
0.006192 0.25% 0.37%
0.048202 0.25% 4.57%
-0.042048 0.25% -4.45%
-0.188475 0.25% -19.10%
-0.151685 0.25% -15.42%
0.136759 0.25% 13.43%
0.126931 0.25% 12.44%
0.24541 0.25% 24.29%
-0.212834 0.25% -21.53%
0.062132 0.25% 5.96%
0.108368 0.25% 10.59%
0.021391 0.25% 1.89%
0.196332 0.25% 19.38%
-0.134774 0.25% -13.73%
0.053281 0.25% 5.08%
0.343991 0.25% 34.15%
-0.40226 0.25% -40.48%
-0.035627 0.25% -3.81%
0.030615 0.25% 2.81%
0.170527 0.25% 16.80%
0.112117 0.25% 10.96%
0.018762 0.25% 1.63%
-0.03403 0.25% -3.65%
0.074108 0.25% 7.16%
0.021202 0.25% 1.87%
0.152151 0.25% 14.97%
0.030171 0.25% 2.77%
0.033804 0.25% 3.13%
-0.346665 0.25% -34.92%
0.303493 0.25% 30.10%
0.087256 0.25% 8.48%
-0.013569 0.25% -1.61%
0.269067 0.25% 26.66%
-0.126695 0.25% -12.92%
0.070887 0.25% 6.84%
0.055808 0.25% 5.33%
0.110566 0.25% 10.81%
0.749475 0.25% 74.70%
-1.110163 0.25% -111.27%
0.80944 0.25% 80.69%
-0.114953 0.25% -11.75%
-0.136021 0.25% -13.85%
0.149319 0.25% 14.68%
-0.219188 0.25% -22.17%
0.024372 0.25% 2.19%
-0.006441 0.25% -0.89%
-0.183938 0.25% -18.64%
 0.00194 0.25% -0.06%
0.072861 0.25% 7.04%
0.131502 0.25% 12.90%
0.032637 0.25% 3.01%
0.01243 0.25% 0.99%
-0.189262 0.25% -19.18%
-0.089669 0.25% -9.22%
-0.105139 0.25% -10.76%
-0.473113 0.25% -47.56%
0.473113 0.25% 47.06%
-0.09531 0.25% -9.78%
-0.083912 0.25% -8.64%
-0.037842 0.25% -4.03%
0.11441 0.25% 11.19%
-0.122709 0.25% -12.52%
-0.108452 0.25% -11.10%
-0.372276 0.25% -37.48%
0.291717 0.25% 28.92%
-0.132573 0.25% -13.51%
-0.256253 0.25% -25.88%
0.129812 0.25% 12.73%
0.008658 0.25% 0.62%
-0.017392 0.25% -1.99%
-0.111226 0.25% -11.37%
-0.004914 0.25% -0.74%
-0.12582 0.25% -12.83%
0.12582 0.25% 12.33%
0.255139 0.25% 25.26%
0.030077 0.25% 2.76%
-0.285216 0.25% -28.77%
-0.060933 0.25% -6.34%
SUMMARY OUTPUT

Regression Statistics
Multiple R 0.529428
R Square 0.280294
Adjusted R 0.263158
Standard E 0.163134
Observatio 44

ANOVA
df SS MS F Significance F
Regression 1 0.435305 0.435305 16.35713 0.00022
Residual 42 1.117728 0.026613
Total 43 1.553033

Coefficients
Standard Error t Stat P-value Lower 95%Upper 95%Lower 95.0%
Upper 95.0%
Intercept -0.027347 0.024684 -1.107857 0.274228 -0.077161 0.022468 -0.077161 0.022468
X Variable 0.961166 0.237654 4.044395 0.00022 0.481561 1.440771 0.481561 1.440771
SUMMARY OUTPUT

Regression Statistics
Multiple R 0.307238
R Square 0.094395
Adjusted R 0.086655
Standard E 0.256646
Observatio 119

ANOVA
df SS MS F Significance F
Regression 1 0.803279 0.803279 12.19543 0.000677
Residual 117 7.706463 0.065867
Total 118 8.509742

Coefficients
Standard Error t Stat P-value Lower 95%Upper 95%Lower 95.0%
Upper 95.0%
Intercept -0.018838 0.023746 -0.793291 0.429214 -0.065865 0.02819 -0.065865 0.02819
X Variable 0.987081 0.282653 3.492196 0.000677 0.427301 1.546862 0.427301 1.546862
SUMMARY OUTPUT

Regression Statistics
Multiple R 0.592368
R Square 0.350899
Adjusted R 0.345351
Standard E 0.087564
Observatio 119

ANOVA
df SS MS F Significance F
Regression 1 0.484959 0.484959 63.24939 1.283E-12
Residual 117 0.897088 0.007667
Total 118 1.382047

Coefficients
Standard Error t Stat P-value Lower 95%Upper 95%Lower 95.0%
Upper 95.0%
Intercept -0.000829 0.008102 -0.10234 0.918662 -0.016874 0.015216 -0.016874 0.015216
X Variable 0.766959 0.096437 7.952949 1.283E-12 0.575971 0.957948 0.575971 0.957948
SUMMARY OUTPUT

Regression Statistics
Multiple R 0.371336
R Square 0.137891
Adjusted R 0.130522
Standard E 0.197665
Observatio 119

ANOVA
df SS MS F Significance F
Regression 1 0.731169 0.731169 18.71364 3.215E-05
Residual 117 4.571357 0.039071
Total 118 5.302526

Coefficients
Standard Error t Stat P-value Lower 95%Upper 95%Lower 95.0%
Upper 95.0%
Intercept -0.009932 0.018289 -0.543058 0.588123 -0.046152 0.026288 -0.046152 0.026288
X Variable 0.941734 0.217695 4.325926 3.215E-05 0.5106 1.372869 0.5106 1.372869
CAPM

Bay leasing BD Autocars AMCL PRAN BDCOM

Expected return 0.133124619 0.098515052 0.083236006 0.095367

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1
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Minimum Variance portfolio with short sale allowed

Company namBay leasing BD Autocars AMCL PRAN BDCOM

Weight 0.25 0.25 0.25 0.25

Covariance Covariance Covariance Covariance Weight

Bay leasing 0.0352962136 0.0145561671 0.009835011814 0.01317908 0.25
BD Autocars 0.0145561671 0.0715104362 0.010702548763 0.01550704 0.25
AMCL PRAN 0.0098350118 0.0107025488 0.011613839663 0.00924622 0.25
BDCOM 0.0131790826 0.0155070412 0.009246221726 0.04455904 0.25

Company name Bay leasing BD Autocars

Company name Return Risk free rate Excess return Weight 0.05315313 0.003643002
Covariance Covariance
Bay leasing -0.016286257 0.25% -1.88% 0.03529621 0.014556167
BD Autocars -0.00509097 0.25% -0.76% 0.01455617 0.071510436
AMCL PRAN 0.0104094341 0.25% 0.79% 0.00983501 0.010702549
BDCOM 0.0032979918 0.25% 0.08% 0.01317908 0.015507041

Excess Portfolio Return 0.006049626612

Portfolio Variance 0.011387843082
Portfolio Standard Daviation 0.106713837352
Theta 0.056690179665
∑Wi 1

Highe
No short sale is needed investm
AMCL PRAN BDCOM
0.889152964 0.0540509
Covariance Covariance
0.009835012 0.01317908 weight
0.010702549 0.01550704 0.053153
0.01161384 0.00924622 0.003643
0.009246222 0.04455904 0.889153
0.054051 1
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4

Weights

Highest
investment
Minimum variance portfolio without short sale
Company name Bay leasing BD Autocars AMCL PRAN
Weight 0.05321344 0.0036247 0.8890838735
Company name Return Risk free rate Excess return Covariance Covariance Covariance
Bay leasing -0.016286 0.0025 -0.018786257363 0.03529621 0.01455617 0.0098350118
BD Autocars -0.005091 0.0025 -0.007590970466 0.01455617 0.07151044 0.0107025488
AMCL PRAN 0.010409 0.0025 0.007909434054 0.00983501 0.01070255 0.0116138397
BDCOM 0.003298 0.0025 0.000797991796 0.01317908 0.01550704 0.0092462217

Excess Portfolio Return 0.00604811

Portfolio Variance 0.01138784
Portfolio Standard Daviation 0.10671384
Theta 0.05667595
∑Wi 1
BDCOM
0.054077995
Covariance weight
0.013179083 0.05321344
0.015507041 0.0036247
0.009246222 0.88908387
0.04455904 0.05407799

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Optimal risky portfolio with maximum theta

Company Bay leasing

Company name Return Risk free rate Excess return Weight 0
Covariance
Bay leasing -0.016286 0.0025 -0.018786257 0.03529621
BD Autocars -0.005091 0.0025 -0.00759097 0.01455617
AMCL PRAN 0.010409 0.0025 0.0079094341 0.00983501
BDCOM 0.003298 0.0025 0.0007979918 0.01317908

Excess Portfolio Return 0.00790943

Portfolio Variance 0.01161384
Portfolio Standard Daviation 0.10776753
Theta 0.07339348
∑Wi 1
BD Autocars AMCL PRAN BDCOM
0 1 0
Covariance Covariance Covariance weights
0.01455617 0.009835012 0.01317908 0
0.07151044 0.010702549 0.01550704 0
0.01070255 0.01161384 0.00924622 1
0.01550704 0.009246222 0.04455904 0

All
investment
in AMCL
PRAN
Optimal risky portfolio with given return

Company Bay leasing BD AutocarAMCL PRAN

Company Return Risk free r Excess retuWeight 0.40808453 0.0650928 0.467225615
Covariance CovarianceCovariance
Bay leasing-0.016286 0.25% -1.88% 0.03529621 0.0145562 0.009835012
BD Autocar-0.005091 0.25% -0.76% 0.01455617 0.0715104 0.010702549
AMCL PRA 0.010409 0.25% 0.79% 0.00983501 0.0107025 0.01161384
BDCOM 0.003298 0.25% 0.08% 0.01317908 0.015507 0.009246222

Excess Portfolio Return -0.0044175

Portfolio Variance 0.01532558
Portfolio Standard Daviation 0.12379653
Theta -0.0356832
∑Wi 1
Given return -0.0019175
BDCOM
0.059597044
Covariance weight
0.013179083 0.408085
0.015507041 0.065093
0.009246222 0.467226
0.04455904 0.059597

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Weights