Management strategy performance

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NYSE Market

Date Open High Low Close Adj Close Volume HPY Returns-Mean (Returns-Mean)2
Feb-16 9,578.92 9,682.93 8,944.05 9,559.53 9,559.53 93,049,560,000
Mar-16 9,626.88 10,281.69 9,613.96 10,207.37 10,207.37 92,639,420,000 0.0677690039 10,207.36 104,190,240.41
Apr-16 10,132.58 10,593.21 10,004.77 10,436.92 10,436.92 81,124,990,000 0.0224886334 10,436.91 108,929,129.47
May-16 10,450.13 10,503.41 10,119.65 10,441.00 10,441.00 75,101,210,000 0.0003909274 10,440.99 109,014,312.95
Jun-16 10,385.93 10,648.05 9,918.72 10,489.76 10,489.76 86,852,700,000 0.0046700283 10,489.75 110,034,891.11
Jul-16 10,495.08 10,815.43 10,308.22 10,785.51 10,785.51 69,530,250,000 0.0281941633 10,785.50 116,327,047.31
Aug-16 10,768.75 10,892.15 10,619.39 10,764.75 10,764.75 75,610,310,000 -0.001924783 10,764.74 115,879,669.30
Sep-16 10,762.45 10,903.86 10,487.80 10,721.74 10,721.74 77,270,240,000 -0.0039954264 10,721.73 114,955,541.07
Oct-16 10,721.85 10,721.85 10,425.91 10,481.89 10,481.89 73,196,630,000 -0.0223704903 10,481.88 109,869,841.88
Nov-16 10,508.01 10,890.04 10,281.48 10,838.46 10,838.46 88,299,760,000 0.0340177511 10,838.45 117,472,039.88
Dec-16 10,860.42 11,688.45 10,812.75 11,056.90 11,056.90 75,251,240,000 0.0201541945 11,056.89 122,254,868.29
Jan-17 11,138.85 11,344.74 11,094.29 11,222.96 11,222.96 70,483,180,000 0.0150186367 11,222.95 125,954,649.65
Feb-17 11,244.82 11,590.35 11,171.57 11,512.39 11,512.39 69,162,420,000 0.0257890688 11,512.38 132,534,930.11
Mar-17 11,593.21 11,687.07 11,324.50 11,492.85 11,492.85 81,547,770,000 -0.0016973052 11,492.84 132,085,407.15
Apr-17 11,495.33 11,653.17 11,324.53 11,536.08 11,536.08 65,265,670,000 0.00376151 11,536.07 133,080,957.89
May-17 11,550.41 11,666.90 11,374.64 11,598.03 11,598.03 72,244,930,000 0.0053701253 11,598.02 134,514,119.54
Jun-17 11,616.21 11,837.60 11,603.41 11,761.70 11,761.70 77,145,350,000 0.0141118723 11,761.69 138,337,402.17
Jul-17 11,801.44 11,989.53 11,684.75 11,967.67 11,967.67 63,169,400,000 0.0175119008 11,967.66 143,224,930.74
Aug-17 12,006.74 12,019.85 11,670.88 11,875.69 11,875.69 70,616,030,000 -0.0076856642 11,875.68 141,031,832.04
Sep-17 11,897.97 12,209.45 11,783.87 12,209.16 12,209.16 66,337,980,000 0.0280800285 12,209.15 149,063,395.20
Oct-17 12,209.16 12,443.80 12,200.13 12,341.01 12,341.01 70,871,570,000 0.0107992367 12,341.00 152,300,323.41
Nov-17 12,383.87 12,673.70 12,178.89 12,627.80 12,627.80 73,173,260,000 0.0232387823 12,627.79 159,461,124.66
Dec-17 12,636.73 12,886.11 12,463.83 12,808.84 12,808.84 65,251,190,000 0.0143366257 12,808.83 164,066,171.99
Jan-18 12,860.93 13,637.02 12,842.27 13,367.96 13,367.96 76,850,120,000 0.0436511131 13,367.95 178,702,138.36
Feb-18 13,338.99 13,414.78 12,048.66 12,652.55 12,652.55 79,579,410,000 -0.0535167788 12,652.54 160,086,812.92
Mar-18 12,644.43 12,963.42 12,166.54 12,452.06 12,452.06 76,369,800,000 -0.0158458365 12,452.05 155,053,587.11
Apr-18 12,432.89 12,774.37 12,107.72 12,515.36 12,515.36 69,648,590,000 0.0050835592 12,515.35 156,634,043.30
May-18 12,490.24 12,853.33 12,255.85 12,527.14 12,527.14 75,617,280,000 0.0009411871 12,527.13 156,929,026.13
Jun-18 12,596.68 12,888.98 12,377.04 12,504.25 12,504.25 77,439,710,000 -0.0018272047 12,504.24 156,356,066.80
Jul-18 12,430.70 12,989.46 12,400.54 12,963.28 12,963.28 64,542,170,000 0.0367099405 12,963.27 168,046,426.79
Aug-18 12,949.85 13,148.42 12,648.32 13,016.89 13,016.89 69,238,220,000 0.0041354791 13,016.88 169,439,206.60
Sep-18 12,976.05 13,261.77 12,873.38 13,082.52 13,082.52 62,492,080,000 0.0050419021 13,082.51 171,152,106.71
Oct-18 13,146.30 13,175.61 11,820.33 12,208.06 12,208.06 91,327,930,000 -0.0668418617 12,208.05 149,036,521.97
Nov-18 12,208.06 12,682.06 12,016.08 12,457.55 12,457.55 80,080,110,000 0.0204365185 12,457.54 155,190,346.63
Dec-18 12,609.70 12,624.75 10,724.19 11,374.39 11,374.39 78,342,100,000 -0.0869480896 11,374.38 129,376,556.79
Jan-19 11,238.77 12,315.14 11,169.46 12,299.03 12,299.03 80,399,630,000 0.0812914498 12,299.02 151,265,947.70
Feb-19 12,312.26 12,769.64 12,186.66 12,644.81 12,644.81 70,183,430,000 0.0281143545 12,644.80 159,891,005.54
Mar-19 12,698.23 12,854.82 12,336.49 12,696.88 12,696.88 78,596,280,000 0.0041179199 12,696.87 161,210,554.40
Apr-19 12,775.84 13,067.03 12,773.53 13,060.65 13,060.65 69,604,840,000 0.0286503859 13,060.64 170,580,378.42
May-19 13,066.08 13,069.09 12,238.40 12,264.49 12,264.49 76,860,120,000 -0.0609586914 12,264.48 150,417,523.30
Jun-19 12,288.51 13,095.57 12,273.09 13,049.71 13,049.71 70,881,390,000 0.0640238373 13,049.70 170,294,720.03
Jul-19 13,049.71 13,255.13 12,979.37 13,066.60 13,066.60 70,349,470,000 0.0012942547 13,066.59 170,735,815.03
Aug-19 13,053.66 13,154.38 12,325.93 12,736.88 12,736.88 79,599,440,000 -0.025233782 12,736.87 162,227,904.15
Sep-19 12,720.19 13,177.88 12,600.71 13,004.74 13,004.74 73,992,330,000 0.0210302958 13,004.73 169,123,059.24
Oct-19 13,002.33 13,248.65 12,482.02 13,171.81 13,171.81 77,564,550,000 0.012846803 13,171.80 173,496,355.34
Nov-19 13,231.18 13,611.49 13,231.18 13,545.21 13,545.21 72,179,920,000 0.0283484505 13,545.20 183,472,494.87
Dec-19 13,554.29 13,978.61 13,280.04 13,913.03 13,913.03 72,054,000,000 0.02715501 13,913.02 193,572,187.44
Jan-20 13,913.03 14,183.26 13,573.04 13,614.10 13,614.10 77,104,420,000 -0.0214856619 13,614.09 185,343,489.04
MEAN 0.0080477314 Mkt Variance 147,706,746.83
VARIANCE 0.000984957

Walmart

Date Open High Low Close Adj Close Volume Return Market Return MKT-MKT MEAN CO-CO MEAN Product
Feb-16 65.91 68.20 62.35 66.34 60.17 263,102,700 9,559.53 (2,501.47) COVARIANCE 480.99
Mar-16 66.65 69.19 64.88 68.49 62.12 203,107,900 2.15 10,207.37 (1,853.63) 1.13 (2,086.32) company beta 0.0000032564
Apr-16 68.02 70.08 66.36 66.87 61.10 141,253,600 (1.62) 10,436.92 (1,624.08) (2.64) 4,294.82 Risk Free Rate 4%
May-16 66.62 71.38 62.72 70.78 64.67 232,976,200 3.91 10,441.00 (1,620.00) 2.89 (4,674.55) Risk Premium 8%
Jun-16 70.50 73.19 70.15 73.02 67.21 185,919,600 2.24 10,489.76 (1,571.24) 1.22 (1,909.89) Expected Return 4.00002605%
Jul-16 73.13 74.35 72.42 72.97 67.16 137,723,500 (0.05) 10,785.51 (1,275.49) (1.07) 1,370.47 company variance 147,706,746.83
Aug-16 72.81 75.19 70.89 71.44 65.75 212,460,000 (1.53) 10,764.75 (1,296.25) (2.55) 3,311.23 Standard Deviation 12,153.47
Sep-16 71.57 73.19 70.30 72.12 66.83 176,983,900 0.68 10,721.74 (1,339.26) (0.34) 461.33
Oct-16 71.83 72.57 67.07 70.02 64.89 170,716,200 (2.10) 10,481.89 (1,579.11) (3.12) 4,933.89
Nov-16 69.98 72.09 68.12 70.43 65.27 210,370,600 0.41 10,838.46 (1,222.54) (0.61) 751.21
Dec-16 70.25 72.48 68.83 69.12 64.05 162,527,500 (1.31) 11,056.90 (1,004.10) (2.33) 2,344.03
Jan-17 69.24 69.63 65.28 66.74 62.29 181,828,000 (2.38) 11,222.96 (838.04) (3.40) 2,853.08
Feb-17 66.46 72.80 66.04 70.93 66.20 207,967,400 4.19 11,512.39 (548.61) 3.17 (1,736.64)
Mar-17 70.97 72.56 69.33 72.08 67.27 191,103,100 1.15 11,492.85 (568.15) 0.13 (71.32)
Apr-17 72.08 75.77 71.38 75.18 70.68 127,527,200 3.10 11,536.08 (524.92) 2.08 (1,089.49)
May-17 75.09 79.44 74.96 78.60 73.90 182,345,800 3.42 11,598.03 (462.97) 2.40 (1,109.06)
Jun-17 78.64 80.47 73.29 75.68 71.63 247,520,700 (2.92) 11,761.70 (299.30) (3.94) 1,180.57
Jul-17 75.84 80.34 73.13 79.99 75.71 143,448,100 4.31 11,967.67 (93.33) 3.29 (306.64)
Aug-17 80.25 81.99 77.50 78.07 73.89 203,652,700 (1.92) 11,875.69 (185.31) (2.94) 545.64
Sep-17 78.31 81.12 77.73 78.14 74.42 161,153,600 0.07 12,209.16 148.16 (0.95) (141.42)
Oct-17 77.90 89.11 77.50 87.31 83.15 198,775,100 9.17 12,341.01 280.01 8.15 2,280.84
Nov-17 87.07 100.13 87.00 97.23 92.60 222,703,100 9.92 12,627.80 566.80 8.90 5,042.00
Dec-17 97.61 99.91 96.14 98.75 94.05 166,774,100 1.52 12,808.84 747.84 0.50 370.58
Jan-18 99.30 109.98 98.52 106.60 102.06 169,694,600 7.85 13,367.96 1,306.96 6.83 8,920.70
Feb-18 105.96 106.56 90.00 90.01 86.18 307,532,700 (16.59) 12,652.55 591.55 (17.61) (10,419.85)
Mar-18 90.17 90.50 85.28 88.97 85.18 256,003,000 (1.04) 12,452.06 391.06 (2.06) (807.33)
Apr-18 88.00 89.66 84.84 88.46 85.20 163,581,800 (0.51) 12,515.36 454.36 (1.53) (697.20)
May-18 87.67 88.10 81.78 82.54 79.50 248,483,300 (5.92) 12,527.14 466.14 (6.94) (3,237.10)
Jun-18 83.04 87.49 82.37 85.65 83.01 185,619,400 3.11 12,504.25 443.25 2.09 924.41
Jul-18 85.65 89.66 83.40 89.23 86.48 117,596,900 3.58 12,963.28 902.28 2.56 2,305.81
Aug-18 88.86 100.21 87.62 95.86 92.91 205,659,500 6.63 13,016.89 955.89 5.61 5,358.27
Sep-18 95.80 97.66 93.69 93.91 91.55 127,212,500 (1.95) 13,082.52 1,021.52 (2.97) (3,038.48)
Oct-18 94.29 102.60 92.89 100.28 97.76 216,421,000 6.37 12,208.06 147.06 5.35 786.12
Nov-18 99.96 106.21 93.31 97.65 95.19 191,936,600 (2.63) 12,457.55 396.55 (3.65) (1,449.18)
Dec-18 98.02 99.59 85.78 93.15 90.81 186,311,800 (4.50) 11,374.39 (686.61) (5.52) 3,793.15
Jan-19 91.64 99.35 91.64 95.83 93.93 160,739,700 2.68 12,299.03 238.03 1.66 394.07
Feb-19 95.92 104.18 93.11 98.99 97.02 166,799,500 3.16 12,644.81 583.81 2.14 1,246.74
Mar-19 99.47 100.49 95.00 97.53 95.59 141,147,100 (1.46) 12,696.88 635.88 (2.48) (1,579.82)
Apr-19 97.97 104.15 96.79 102.84 101.34 110,606,900 5.31 13,060.65 999.65 4.29 4,284.03
May-19 102.77 103.96 98.85 101.44 99.96 155,764,900 (1.40) 12,264.49 203.49 (2.42) (493.36)
Jun-19 101.63 112.22 101.40 110.49 109.46 121,524,400 9.05 13,049.71 988.71 8.03 7,934.93
Jul-19 111.30 115.49 109.63 110.38 109.35 91,288,100 (0.11) 13,066.60 1,005.60 (1.13) (1,140.82)
Aug-19 110.32 115.38 104.84 114.26 113.19 157,310,800 3.88 12,736.88 675.88 2.86 1,930.00
Sep-19 113.68 119.86 113.49 118.68 118.15 105,362,500 4.42 13,004.74 943.74 3.40 3,204.50
Oct-19 118.85 120.71 114.58 117.26 116.74 96,406,900 (1.42) 13,171.81 1,110.81 (2.44) (2,715.34)
Nov-19 117.92 125.38 117.08 119.09 118.56 116,620,200 1.83 13,545.21 1,484.21 0.81 1,195.57
Dec-19 119.15 122.12 117.42 118.84 118.31 98,422,700 (0.25) 13,913.03 1,852.03 (1.27) (2,360.35)
Jan-20 118.86 119.89 112.68 114.49 114.49 127,907,500 (4.35) 13,614.10 1,553.10 (5.37) (8,347.09)
Mean 1.02 12,061.00 SUM 22,606.74

IBM

Date Open High Low Close Adj Close Volume Company Return Market Return MKT-MKT MEAN CO-CO MEAN Product
Feb-16 124.40 134.92 116.90 131.03 108.74 106,715,800 9,559.53 (2,501.47) COVARIANCE 36.94
Mar-16 132.24 153.10 132.03 151.45 126.97 105,746,700 20.42 10,207.37 (1,853.63) 20.15 (37,350.23) company beta 0.0000002501
Apr-16 150.51 153.52 142.61 145.94 122.35 94,482,500 (5.51) 10,436.92 (1,624.08) (5.78) 9,387.52 Risk Free Rate 4%
May-16 146.56 153.81 142.90 153.74 128.89 75,249,000 7.80 10,441.00 (1,620.00) 7.53 (12,198.25) Risk Premium 8%
Jun-16 153.00 155.48 142.50 151.78 129.71 76,973,700 (1.96) 10,489.76 (1,571.24) (2.23) 3,504.21 Expected Return 4.00000200%
Jul-16 151.78 163.60 149.92 160.62 137.26 69,425,000 8.84 10,785.51 (1,275.49) 8.57 (10,930.67) company variance 147,706,746.83
Aug-16 160.65 164.95 157.85 158.88 135.77 69,706,500 (1.74) 10,764.75 (1,296.25) (2.01) 2,605.72 Standard Deviation 12,153.47
Sep-16 158.32 165.00 153.21 158.85 136.92 69,937,000 (0.03) 10,721.74 (1,339.26) (0.30) 402.06
Oct-16 158.06 158.53 147.79 153.69 132.47 78,327,200 (5.16) 10,481.89 (1,579.11) (5.43) 8,574.91
Nov-16 153.50 164.66 151.00 162.22 139.83 76,338,800 8.53 10,838.46 (1,222.54) 8.26 (10,097.91)
Dec-16 161.95 169.95 158.30 165.99 144.37 69,470,400 3.77 11,056.90 (1,004.10) 3.50 (3,514.14)
Jan-17 167.00 179.25 165.34 174.52 151.79 88,764,500 8.53 11,222.96 (838.04) 8.26 (6,922.02)
Feb-17 175.00 182.79 172.89 179.82 156.40 59,820,600 5.30 11,512.39 (548.61) 5.03 (2,759.39)
Mar-17 180.48 182.55 172.09 174.14 152.66 79,477,000 (5.68) 11,492.85 (568.15) (5.95) 3,380.61
Apr-17 173.82 176.33 159.60 160.29 140.52 100,052,300 (13.85) 11,536.08 (524.92) (14.12) 7,411.97
May-17 160.05 160.42 149.79 152.63 133.80 103,329,100 (7.66) 11,598.03 (462.97) (7.93) 3,671.44
Jun-17 152.80 157.20 150.80 153.83 136.17 83,977,000 1.20 11,761.70 (299.30) 0.93 (278.28)
Jul-17 153.58 156.03 143.64 144.67 128.06 93,293,500 (9.16) 11,967.67 (93.33) (9.43) 880.11
Aug-17 145.00 145.67 139.13 143.03 126.61 80,246,500 (1.64) 11,875.69 (185.31) (1.91) 353.98
Sep-17 142.98 147.42 141.64 145.08 129.78 78,296,700 2.05 12,209.16 148.16 1.78 263.70
Oct-17 145.35 162.51 145.21 154.06 137.82 125,345,600 8.98 12,341.01 280.01 8.71 2,438.83
Nov-17 154.10 154.90 146.21 149.12 133.40 135,079,900 (4.94) 12,627.80 566.80 (5.21) (2,953.15)
Dec-17 154.40 157.85 151.49 153.42 138.62 88,788,100 4.30 12,808.84 747.84 4.03 3,013.64
Jan-18 154.50 171.13 153.54 163.70 147.90 145,086,400 10.28 13,367.96 1,306.96 10.01 13,082.40
Feb-18 163.19 164.13 144.40 155.83 140.79 102,364,900 (7.87) 12,652.55 591.55 (8.14) (4,815.35)
Mar-18 155.53 162.11 148.54 153.43 139.99 94,316,900 (2.40) 12,452.06 391.06 (2.67) (1,044.22)
Apr-18 153.34 162.00 144.11 144.96 132.26 122,745,300 (8.47) 12,515.36 454.36 (8.74) (3,971.21)
May-18 144.65 146.20 139.90 141.31 128.93 88,812,900 (3.65) 12,527.14 466.14 (3.92) (1,827.37)
Jun-18 142.43 147.52 137.45 139.70 128.88 89,801,400 (1.61) 12,504.25 443.25 (1.88) (833.41)
Jul-18 138.28 150.54 138.20 144.93 133.70 94,954,000 5.23 12,963.28 902.28 4.96 4,475.12
Aug-18 144.76 147.93 142.00 146.48 135.13 79,195,100 1.55 13,016.89 955.89 1.28 1,223.34
Sep-18 145.98 153.35 144.81 151.21 141.00 95,867,900 4.73 13,082.52 1,021.52 4.46 4,555.78
Oct-18 151.71 154.36 114.09 115.43 107.64 198,093,000 (35.78) 12,208.06 147.06 (36.05) (5,301.56)
Nov-18 115.50 125.06 114.54 124.27 115.88 141,718,900 8.84 12,457.55 396.55 8.57 3,398.35
Dec-18 125.67 126.59 105.94 113.67 107.35 115,604,100 (10.60) 11,374.39 (686.61) (10.87) 7,463.59
Jan-19 112.01 135.41 111.69 134.42 126.94 120,387,100 20.75 12,299.03 238.03 20.48 4,874.83
Feb-19 134.97 140.49 132.12 138.13 130.45 68,461,200 3.71 12,644.81 583.81 3.44 2,008.19
Mar-19 139.31 142.12 133.58 141.10 134.80 74,687,300 2.97 12,696.88 635.88 2.70 1,716.74
Apr-19 141.51 145.39 136.26 140.27 134.01 80,197,500 (0.83) 13,060.65 999.65 (1.10) (1,099.83)
May-19 140.55 141.81 126.85 126.99 121.32 75,536,400 (13.28) 12,264.49 203.49 (13.55) (2,757.35)
Jun-19 127.10 140.15 127.06 137.90 133.31 61,341,600 10.91 13,049.71 988.71 10.64 10,519.67
Jul-19 139.60 151.94 139.13 148.24 143.31 80,164,100 10.34 13,066.60 1,005.60 10.07 10,126.19
Aug-19 148.90 152.95 128.83 135.53 131.02 96,062,300 (12.71) 12,736.88 675.88 (12.98) (8,773.08)
Sep-19 134.85 146.57 133.33 145.42 142.24 61,812,000 9.89 13,004.74 943.74 9.62 9,078.59
Oct-19 145.59 147.35 130.90 133.73 130.80 91,419,500 (11.69) 13,171.81 1,110.81 (11.96) (13,285.53)
Nov-19 134.50 139.14 132.75 134.45 131.51 64,772,300 0.72 13,545.21 1,484.21 0.45 667.58
Dec-19 134.45 136.42 130.69 134.04 132.65 71,853,900 (0.41) 13,913.03 1,852.03 (0.68) (1,259.78)
Jan-20 135.00 145.79 133.20 143.73 142.24 113,249,700 9.69 13,614.10 1,553.10 9.42 14,629.88
Mean 0.27 12,061.00 SUM 1,736.21

Portfolio

Date Walmart IBM Corr(Walmart,IBM) 0.0974297686 Walmart IBM Return Risk
Feb-16 Expected Return 0.040000261 Walmart 0% 100% 0.0400000200076 12153.46645
Mar-16 2.15 20.42 Expected Return 0.040000020 IBM 1% 99% 0.0400000224126 12032.54558
Apr-16 (1.62) (5.51) Standard Deviation 12153.4664530678 Walmart 2% 98% 0.0400000248177 11912.87717
May-16 3.91 7.80 Standard Deviation 12153.4664530678 IBM 3% 97% 0.0400000272227 11794.49932
Jun-16 2.24 (1.96) 4% 96% 0.0400000296278 11677.45129
Jul-16 (0.05) 8.84 5% 95% 0.0400000320328 11561.77347
Aug-16 (1.53) (1.74) 6% 94% 0.0400000344379 11447.50741
Sep-16 0.68 (0.03) 7% 93% 0.0400000368430 11334.69578
Oct-16 (2.10) (5.16) 8% 92% 0.0400000392480 11223.38245
Nov-16 0.41 8.53 9% 91% 0.0400000416531 11113.61245
Dec-16 (1.31) 3.77 10% 90% 0.0400000440581 11005.43195
Jan-17 (2.38) 8.53 11% 89% 0.0400000464632 10898.88828
Feb-17 4.19 5.30 12% 88% 0.0400000488682 10794.02992
Mar-17 1.15 (5.68) 13% 87% 0.0400000512733 10690.90645
Apr-17 3.10 (13.85) 14% 86% 0.0400000536784 10589.56856
May-17 3.42 (7.66) 15% 85% 0.0400000560834 10490.06799
Jun-17 (2.92) 1.20 16% 84% 0.0400000584885 10392.45752
Jul-17 4.31 (9.16) 17% 83% 0.0400000608935 10296.79090
Aug-17 (1.92) (1.64) 18% 82% 0.0400000632986 10203.12282
Sep-17 0.07 2.05 19% 81% 0.0400000657036 10111.50880
Oct-17 9.17 8.98 20% 80% 0.0400000681087 10022.00518
Nov-17 9.92 (4.94) 21% 79% 0.0400000705137 9934.66901
Dec-17 1.52 4.30 22% 78% 0.0400000729188 9849.55793
Jan-18 7.85 10.28 23% 77% 0.0400000753239 9766.73011
Feb-18 (16.59) (7.87) 24% 76% 0.0400000777289 9686.24414
Mar-18 (1.04) (2.40) 25% 75% 0.0400000801340 9608.15887
Apr-18 (0.51) (8.47) 26% 74% 0.0400000825390 9532.53328
May-18 (5.92) (3.65) 27% 73% 0.0400000849441 9459.42637
Jun-18 3.11 (1.61) 28% 72% 0.0400000873491 9388.89698
Jul-18 3.58 5.23 29% 71% 0.0400000897542 9321.00362
Aug-18 6.63 1.55 30% 70% 0.0400000921593 9255.80430
Sep-18 (1.95) 4.73 31% 69% 0.0400000945643 9193.35633
Oct-18 6.37 (35.78) 32% 68% 0.0400000969694 9133.71615
Nov-18 (2.63) 8.84 33% 67% 0.0400000993744 9076.93910
Dec-18 (4.50) (10.60) 34% 66% 0.0400001017795 9023.07924
Jan-19 2.68 20.75 35% 65% 0.0400001041845 8972.18909
Feb-19 3.16 3.71 36% 64% 0.0400001065896 8924.31947
Mar-19 (1.46) 2.97 37% 63% 0.0400001089946 8879.51922
Apr-19 5.31 (0.83) 38% 62% 0.0400001113997 8837.83502
May-19 (1.40) (13.28) 39% 61% 0.0400001138048 8799.31115
Jun-19 9.05 10.91 40% 60% 0.0400001162098 8763.98930
Jul-19 (0.11) 10.34 41% 59% 0.0400001186149 8731.90831
Aug-19 3.88 (12.71) 42% 58% 0.0400001210199 8703.10403
Sep-19 4.42 9.89 43% 57% 0.0400001234250 8677.60909
Oct-19 (1.42) (11.69) 44% 56% 0.0400001258300 8655.45273
Nov-19 1.83 0.72 45% 55% 0.0400001282351 8636.66065
Dec-19 (0.25) (0.41) 46% 54% 0.0400001306402 8621.25484
Jan-20 (4.35) 9.69 47% 53% 0.0400001330452 8609.25349
Mean 1.02 0.27 48% 52% 0.0400001354503 8600.67084
49% 51% 0.0400001378553 8595.51713
50% 50% 0.0400001402604 8593.79855
51% 49% 0.0400001426654 8595.51713
52% 48% 0.0400001450705 8600.67084
53% 47% 0.0400001474755 8609.25349
54% 46% 0.0400001498806 8621.25484
55% 45% 0.0400001522857 8636.66065
56% 44% 0.0400001546907 8655.45273
57% 43% 0.0400001570958 8677.60909
58% 42% 0.0400001595008 8703.10403
59% 41% 0.0400001619059 8731.90831
60% 40% 0.0400001643109 8763.98930
61% 39% 0.0400001667160 8799.31115
62% 38% 0.0400001691211 8837.83502
63% 37% 0.0400001715261 8879.51922
64% 36% 0.0400001739312 8924.31947
65% 35% 0.0400001763362 8972.18909
66% 34% 0.0400001787413 9023.07924
67% 33% 0.0400001811463 9076.93910
68% 32% 0.0400001835514 9133.71615
69% 31% 0.0400001859564 9193.35633
70% 30% 0.0400001883615 9255.80430
71% 29% 0.0400001907666 9321.00362
72% 28% 0.0400001931716 9388.89698
73% 27% 0.0400001955767 9459.42637
74% 26% 0.0400001979817 9532.53328
75% 25% 0.0400002003868 9608.15887
76% 24% 0.0400002027918 9686.24414
77% 23% 0.0400002051969 9766.73011
78% 22% 0.0400002076020 9849.55793
79% 21% 0.0400002100070 9934.66901
80% 20% 0.0400002124121 10022.00518
81% 19% 0.0400002148171 10111.50880
82% 18% 0.0400002172222 10203.12282
83% 17% 0.0400002196272 10296.79090
84% 16% 0.0400002220323 10392.45752
85% 15% 0.0400002244373 10490.06799
86% 14% 0.0400002268424 10589.56856
87% 13% 0.0400002292475 10690.90645
88% 12% 0.0400002316525 10794.02992
89% 11% 0.0400002340576 10898.88828
90% 10% 0.0400002364626 11005.43195
91% 9% 0.0400002388677 11113.61245
92% 8% 0.0400002412727 11223.38245
93% 7% 0.0400002436778 11334.69578
94% 6% 0.0400002460828 11447.50741
95% 5% 0.0400002484879 11561.77347
96% 4% 0.0400002508930 11677.45129
97% 3% 0.0400002532980 11794.49932
98% 2% 0.0400002557031 11912.87717
99% 1% 0.0400002581081 12032.54558
100% 0% 0.0400002605132 12153.46645

1

Running Head: ASSIGNMENT

2

ASSIGNMENT

BUS 710 Finance for Managers

Professional Assignment 1 – CLO 1

Antony V A

Professor: Dr. Kevin Grant

Westcliff University

February 9, 2020

Assignment

Investors use the closing price of stocks as a benchmark for determining and tracking the performance of a company over time (Lawrence, Ryans, Sun, & Laptev, 2016). The firms chosen for analysis are IBM and Walmart and the time period considered in our assignment is 4 years. The data used for the analysis is from Yahoo Finance (YHOO). The results from IBM after analysis:

COVARIANCE

36.94

company beta

2.50095E-07

Risk-Free Rate

4%

Risk Premium

8%

Expected Return

4.00000200%

company variance

147,706,746.83

Standard Deviation

12,153.47

On the other hand, the data from Walmart after analysis of the past 4 years was as follows:

COVARIANCE

480.99

company beta

3.25641E-06

Risk-Free Rate

4%

Risk Premium

8%

Expected Return

4.00002605%

company variance

147,706,746.83

Standard Deviation

12,153.47

The calculations and formulas are as shown in the attached excel workbook.

References

Lawrence, A., Ryans, J., Sun, E., & Laptev, N. (2016). Yahoo Finance search and earnings announcements. Available at SSRN 2804353.

C:\Users\ENVY

x360\Desktop\

Yahoo.docx