| | prices | | returns |
| Date | LFL | BRLUSD | LFL | BRLUSD |
| 6/1/16 | 6.23 | 3.4880 | 3.661% | -1.477% | | SUMMARY OUTPUT |
| 5/2/16 | 6.01 | 3.5403 | -16.295% | -0.648% |
| 4/1/16 | 7.18 | 3.5634 | 2.571% | -3.640% | | Regression Statistics |
| 3/1/16 | 7 | 3.6980 | 22.592% | -6.720% | | Multiple R | 0.5306363849 |
| 2/1/16 | 5.71 | 3.9644 | 11.523% | -2.249% | | R Square | 0.281574973 |
| 1/4/16 | 5.12 | 4.0556 | -5.009% | 4.504% | | Adjusted R Square | 0.2691883346 | portion of risk that can be eliminated by hedging exchange rate risk |
| 12/1/15 | 5.39 | 3.8808 | -2.355% | 2.509% | | Standard Error | 0.0915918404 |
| 11/2/15 | 5.52 | 3.7858 | 0.181% | -2.307% | | Observations | 60 |
| 10/1/15 | 5.51 | 3.8752 | 12.910% | -0.717% |
| 9/1/15 | 4.88 | 3.9032 | -11.594% | 11.031% | | ANOVA |
| 8/3/15 | 5.52 | 3.5154 | -10.968% | 8.876% | | | df | SS | MS | F | Significance F |
| 7/1/15 | 6.2 | 3.2288 | -11.932% | 3.763% | | Regression | 1 | 0.1907015238 | 0.1907015238 | 22.7321541179 | 0.0000129344 |
| 6/1/15 | 7.04 | 3.1117 | -16.390% | 1.816% | | Residual | 58 | 0.4865657836 | 0.0083890652 |
| 5/1/15 | 8.42 | 3.0562 | -12.017% | 0.463% | | Total | 59 | 0.6772673074 |
| 4/1/15 | 9.57 | 3.0421 | 18.734% | -3.161% |
| 3/2/15 | 8.06 | 3.1414 | -23.746% | 11.516% | | | Coefficients | Standard Error | t Stat | P-value | Lower 95% | Upper 95% | Lower 95.0% | Upper 95.0% |
| 2/2/15 | 10.57 | 2.8170 | 1.929% | 6.923% | | Intercept | 0.0018577827 | 0.0126054004 | 0.1473799026 | 0.8833433019 | -0.0233746676 | 0.027090233 | -0.0233746676 | 0.027090233 |
| 1/2/15 | 10.37 | 2.6346 | -13.439% | -0.276% | | X Variable 1 | -1.4961269901 | 0.3137965481 | -4.7678248833 | 0.0000129 | -2.1242590268 | -0.8679949534 | -2.1242590268 | -0.8679949534 |
| 12/1/14 | 11.98 | 2.6419 | 0.672% | 3.494% | | | 1% increase in exchange rate is associated with -1.49% change in stock price |
| 11/3/14 | 11.9 | 2.5527 | -2.459% | 4.213% | | | BRL gets weaker, stock price declines |
| 10/1/14 | 12.2 | 2.4495 | 7.300% | 4.774% | | | long natural relationship |
| 9/2/14 | 11.37 | 2.3379 | -8.306% | 3.059% | | | | | statistically significant |
| 8/1/14 | 12.4 | 2.2685 | 5.802% | 1.992% |
| 7/1/14 | 11.72 | 2.2242 | -12.668% | -0.528% |
| 6/2/14 | 13.42 | 2.2360 | -7.064% | 0.743% |
| 5/1/14 | 14.44 | 2.2195 | -5.806% | -0.582% |
| 4/1/14 | 15.33 | 2.2325 | 1.860% | -3.983% |
| 3/3/14 | 15.05 | 2.3251 | -2.273% | -2.274% |
| 2/3/14 | 15.4 | 2.3792 | 10.791% | -0.277% |
| 1/2/14 | 13.9 | 2.3858 | -14.776% | 1.649% |
| 12/2/13 | 16.309999 | 2.3471 | 1.241% | 2.230% |
| 11/1/13 | 16.110001 | 2.2959 | -2.659% | 4.922% |
| 10/1/13 | 16.549999 | 2.1882 | 9.748% | -3.352% |
| 9/3/13 | 15.08 | 2.2641 | 19.873% | -3.277% |
| 8/1/13 | 12.58 | 2.3408 | -6.468% | 3.952% |
| 7/1/13 | 13.45 | 2.2518 | -20.367% | 3.607% |
| 6/3/13 | 16.889999 | 2.1734 | -5.325% | 6.722% |
| 5/1/13 | 17.84 | 2.0365 | -13.787% | 1.769% |
| 4/1/13 | 20.692959 | 2.0011 | -4.784% | 0.852% |
| 3/1/13 | 21.732605 | 1.9842 | -7.920% | 0.573% |
| 2/1/13 | 23.601969 | 1.9729 | -3.593% | -2.722% |
| 1/2/13 | 24.481668 | 2.0281 | 3.998% | -2.378% |
| 12/3/12 | 23.540552 | 2.0775 | 6.366% | 0.547% |
| 11/1/12 | 22.131718 | 2.0662 | -10.649% | 1.798% |
| 10/1/12 | 24.769539 | 2.0297 | -1.938% | 0.138% |
| 9/4/12 | 25.259134 | 2.0269 | 7.164% | -0.049% |
| 8/1/12 | 23.570528 | 2.0279 | -4.067% | -0.084% |
| 7/2/12 | 24.569704 | 2.0296 | -5.785% | -0.908% |
| 6/1/12 | 26.078457 | 2.0482 | 4.067% | 3.392% |
| 5/1/12 | 25.059299 | 1.9810 | -10.859% | 6.954% |
| 4/2/12 | 28.11198 | 1.8522 | -3.094% | 3.169% |
| 3/1/12 | 29.009491 | 1.7953 | 8.141% | 4.572% |
| 2/1/12 | 26.82555 | 1.7168 | 7.171% | -3.821% |
| 1/3/12 | 25.030533 | 1.7850 | 9.139% | -2.942% |
| 12/1/11 | 22.934568 | 1.8391 | -0.980% | 2.950% |
| 11/1/11 | 23.161545 | 1.7864 | -6.382% | 0.909% |
| 10/3/11 | 24.740517 | 1.7703 | 21.404% | 1.206% |
| 9/1/11 | 20.378607 | 1.7492 | -26.210% | 9.558% |
| 8/1/11 | 27.617201 | 1.5966 | 7.525% | 2.182% |
| 7/1/11 | 25.684486 | 1.5625 | -8.205% | -1.444% |
| 6/1/11 | 27.980198 | 1.5854 | ERROR:#DIV/0! | ERROR:#DIV/0! |
Leila@
economic_risk_example-2.xlsx
