201208

201207
201206
201205
201204
201203
201202
201201
201112
201111
201110
201109
201108
201107
201106
201105
201104
201103
201102
201101
201012
201011
201010
201009
201008
201007
201006
201005
201004
201003
201002
201001
200912
200911
200910
200909
200908
200907
200906
200905
200904
200903
200902
200901
200812
200811

Mkt-RF
AAPL - RF
2.55
-0.649
0.79
4.575
3.89
1.083
-6.19
-1.069
-0.85
-2.603
3.11
10.529
4.42
18.833
5.05
12.702
0.74
5.970
-0.28
-5.582
11.35
6.157
-7.59
-0.918
-5.99
-1.443
-2.36
16.312
-1.75
-3.491
-1.27
-0.652
2.9
0.465
0.45
-1.344
3.49
4.090
1.99
5.169
6.82
3.656
0.6
3.389
3.88
6.060
9.54
16.702
-4.77
-5.504
6.93
2.243
-5.56
-2.073
-7.89
-1.617
2
11.077
6.31
14.846
3.4
6.513
-3.36
-8.837
2.75
5.402
5.56
6.052
-2.59
1.708
4.08
10.187
3.33
2.918
7.72
14.719
0.43
4.868
5.21
7.895
10.19
19.738
8.95
17.705
-10.1
-0.990
-8.12
5.603
1.74
-7.863
-7.86
-13.915

Beta
Alpha

Mkt Variance
Total AAPL risk
Systematic risk
%
Unsystematic risk
%

1.23 (23% more risk)

3.42 (outperformance)
Formula
Regression (SS)
19.9915
113.0773 113.0773
30.17
30.78
26.68%
27.22%
27.22%
82.91
82.30
73.32%
72.78%

200810
200809
200808
200807
200806
200805
200804
200803
200802
200801
200712
200711
200710
200709
200708
200707
200706
200705
200704
200703
200702
200701
200612
200611
200610
200609
200608
200607
200606
200605
200604
200603
200602
200601
200512
200511
200510
200509
200508
200507
200506
200505
200504
200503
200502
200501
200412

-17.23
-9.24
1.53
-0.77
-8.44
1.86
4.6
-0.93
-3.09
-6.36
-0.87
-4.83
1.8
3.22
0.92
-3.73
-1.96
3.24
3.49
0.68
-1.96
1.4
0.87
1.71
3.23
1.84
2.03
-0.78
-0.35
-3.57
0.73
1.46
-0.3
3.04
-0.25
3.61
-2.02
0.49
-1.22
3.92
0.57
3.65
-2.61
-1.97
1.89
-2.76
3.43

-5.391
-33.107
6.490
-5.205
-11.476
8.368
20.999
14.603
-7.743
-31.871
8.413
-4.408
23.469
10.466
4.720
7.561
0.268
21.050
7.008
9.309
-1.668
0.601
-7.790
12.556
4.944
13.039
-0.528
18.238
-4.587
-15.493
11.847
-8.855
-9.599
4.665
5.760
17.465
7.148
13.996
9.717
15.560
-7.637
9.964
-13.638
-7.423
16.698
19.291
-4.327

200411
200410
200409
200408
200407
200406
200405
200404
200403
200402
200401
200312
200311
200310
200309
200308
200307
200306
200305
200304
200303
200302
200301
200212
200211
200210
200209
200208
200207
200206
200205
200204
200203
200202
200201
200112
200111
200110
200109
200108
200107
200106
200105
200104
200103
200102
200101

4.54
1.43
1.6
0.08
-4.06
1.86
1.17
-1.83
-1.32
1.4
2.15
4.29
1.35
6.08
-1.24
2.34
2.35
1.42
6.05
8.22
1.09
-1.88
-2.57
-5.76
5.96
7.84
-10.35
0.5
-8.18
-7.21
-1.38
-5.2
4.24
-2.29
-1.44
1.61
7.54
2.46
-9.25
-6.46
-2.13
-1.94
0.72
7.94
-7.26
-10.05
3.13

27.940
35.251
12.283
6.254
-0.552
15.627
9.083
-4.971
13.490
5.822
5.447
2.033
-9.044
10.568
-8.522
7.622
10.783
5.638
25.683
0.942
-5.982
3.992
0.931
-7.729
-3.790
9.961

200012
200011
200010
200009
200008
200007
200006
200005
200004
200003
200002
200001
199912
199911
199910
199909
199908
199907
199906
199905
199904
199903
199902
199901
199812
199811
199810
199809
199808
199807
199806
199805
199804
199803
199802
199801
199712
199711
199710
199709
199708
199707
199706
199705
199704
199703
199702

1.19
-10.72
-2.76
-5.45
7.03
-2.51
4.64
-4.42
-6.4
5.2
2.45
-4.74
7.72
3.37
6.13
-2.81
-1.38
-3.47
4.77
-2.46
4.33
3.45
-4.08
3.5
6.16
6.1
7.13
6.15
-16.08
-2.46
3.18
-3.07
0.73
4.76
7.03
0.15
1.32
2.98
-3.8
5.35
-4.15
7.33
4.1
6.74
4.04
-5.03
-0.49

199701
199612
199611
199610
199609
199608
199607
199606
199605
199604
199603
199602
199601
199512
199511
199510
199509
199508
199507
199506
199505
199504
199503
199502
199501
199412
199411
199410
199409
199408
199407
199406
199405
199404
199403
199402
199401
199312
199311
199310
199309
199308
199307
199306
199305
199304
199303

4.99
-1.7
6.25
0.86
5.02
2.76
-5.97
-1.14
2.36
2.06
0.73
1.33
2.26
1.03
3.95
-1.52
3.35
0.55
3.72
2.72
2.9
2.11
2.18
3.63
1.8
0.86
-4.04
1.34
-2.31
4.01
2.82
-3.03
0.58
0.68
-4.78
-2.56
2.87
1.65
-1.89
1.41
-0.12
3.72
-0.34
0.31
2.88
-3.05
2.3

199302
199301
199212
199211
199210
199209
199208
199207
199206
199205
199204
199203
199202
199201
199112
199111
199110
199109
199108
199107
199106
199105
199104
199103
199102
199101
199012
199011
199010
199009
199008
199007
199006
199005
199004
199003
199002
199001
198912
198911
198910
198909
198908
198907
198906
198905
198904

0.13
0.93
1.53
4.13
1.02
1.19
-2.38
3.77
-2.34
0.3
1.08
-2.65
1.09
-0.59
10.83
-4.19
1.28
-1.59
2.32
4.24
-4.94
3.64
-0.28
2.65
7.19
4.69
2.46
6.35
-1.92
-6.12
-10.14
-1.9
-1.09
8.42
-3.36
1.83
1.11
-7.85
1.16
1.03
-3.67
-0.76
1.44
7.2
-1.35
3.35
4.33

198903
198902
198901
198812
198811
198810
198809
198808
198807
198806
198805
198804
198803
198802
198801
198712
198711
198710
198709
198708
198707
198706
198705
198704
198703
198702
198701
198612
198611
198610
198609
198608
198607
198606
198605
198604
198603
198602
198601
198512
198511
198510
198509
198508
198507
198506
198505

1.57
-2.25
6.1
1.49
-2.29
1.15
3.3
-3.31
-1.25
4.79
-0.29
0.56
-2.27
4.75
4.21
6.81
-7.77
-23.24
-2.59
3.52
3.85
3.94
0.11
-2.11
1.64
4.39
12.47
-3.27
1.17
4.66
-8.6
6.07
-6.45
1.03
4.62
-1.31
4.88
7.13
0.65
3.88
6.48
4.02
-4.54
-1.02
-0.74
1.27
5.09

198504
198503
198502
198501
198412
198411
198410
198409
198408
198407
198406
198405
198404
198403
198402
198401
198312
198311
198310
198309
198308
198307
198306
198305
198304
198303
198302
198301
198212
198211
198210
198209
198208
198207
198206
198205
198204
198203
198202
198201
198112
198111
198110
198109
198108
198107
198106

-0.96
-0.84
1.22
7.99
1.84
-1.76
-0.84
-0.8
10.28
-2.74
1.82
-5.97
-0.52
0.63
-4.82
-1.92
-1.78
2.16
-3.44
0.92
-0.5
-4.07
3.07
0.52
6.67
2.82
2.59
3.6
0.55
4.67
11.3
1.29
11.14
-3.19
-3.09
-3.99
3.27
-1.87
-5.86
-3.24
-3.65
3.36
4.92
-7.17
-7.03
-1.54
-2.36

198105
198104
198103
198102
198101
198012
198011
198010
198009
198008
198007
198006
198005
198004
198003
198002
198001
197912
197911
197910
197909
197908
197907
197906
197905
197904
197903
197902
197901
197812
197811
197810
197809
197808
197807
197806
197805
197804
197803
197802
197801
197712
197711
197710
197709
197708
197707

0.11
-2.1
3.56
0.56
-5.04
-4.52
9.59
1.06
2.19
1.8
6.49
3.06
5.26
3.97
-12.9
-1.22
5.51
1.79
5.21
-8.1
-0.82
5.53
0.82
3.85
-2.21
-0.06
5.68
-3.56
4.23
0.88
2.71
-11.91
-1.43
3.75
5.11
-1.69
1.76
7.88
2.85
-1.38
-6.01
0.27
4
-4.38
-0.27
-1.75
-1.69

197706
197705
197704
197703
197702
197701
197612
197611
197610
197609
197608
197607
197606
197605
197604
197603
197602
197601
197512
197511
197510
197509
197508
197507
197506
197505
197504
197503
197502
197501
197412
197411
197410
197409
197408
197407
197406
197405
197404
197403
197402
197401
197312
197311
197310
197309
197308

4.71
-1.46
0.15
-1.37
-1.95
-4.05
5.65
0.36
-2.42
2.06
-0.56
-1.07
4.05
-1.35
-1.49
2.33
0.32
12.16
-1.6
2.65
5.31
-4.26
-2.85
-6.59
4.82
5.19
4.23
2.66
5.56
13.66
-3.44
-4.51
16.1
-11.77
-9.35
-8.05
-2.83
-4.67
-5.29
-2.81
-0.48
-0.17
0.58
-12.74
-0.86
4.75
-3.84

197307
197306
197305
197304
197303
197302
197301
197212
197211
197210
197209
197208
197207
197206
197205
197204
197203
197202
197201
197112
197111
197110
197109
197108
197107
197106
197105
197104
197103
197102
197101
197012
197011
197010
197009
197008
197007
197006
197005
197004
197003
197002
197001
196912
196911
196910
196909

5.04
-1.56
-2.94
-5.68
-1.29
-4.85
-3.29
0.62
4.6
0.52
-1.14
3.26
-0.8
-2.43
1.25
0.29
0.63
2.87
2.49
8.71
-0.46
-4.42
-0.85
3.79
-4.5
-0.1
-3.98
3.15
4.13
1.41
4.84
5.72
4.59
-2.28
4.18
4.49
6.93
-5.79
-6.92
-11
-1.06
5.13
-8.1
-2.63
-3.79
5.06
-2.98

196908
196907
196906
196905
196904
196903
196902
196901
196812
196811
196810
196809
196808
196807
196806
196805
196804
196803
196802
196801
196712
196711
196710
196709
196708
196707
196706
196705
196704
196703
196702
196701
196612
196611
196610
196609
196608
196607
196606
196605
196604
196603
196602
196601
196512
196511
196510

4.68
-7
-7.18
-0.1
1.46
2.64
-5.84
-1.25
-3.94
5.43
0.42
4.03
1.34
-2.72
0.69
2.28
9.05
0.2
-3.75
-4.06
3.05
0.37
-3.09
3.11
-0.89
4.58
2.41
-4.33
3.89
3.99
0.78
8.15
0.13
1.4
3.86
-1.06
-7.91
-1.63
-1.44
-5.66
2.14
-2.51
-1.21
0.72
1.01
-0.03
2.6

196509
196508
196507
196506
196505
196504
196503
196502
196501
196412
196411
196410
196409
196408
196407
196406
196405
196404
196403
196402
196401
196312
196311
196310
196309
196308
196307
196306
196305
196304
196303
196302
196301
196212
196211
196210
196209
196208
196207
196206
196205
196204
196203
196202
196201
196112
196111

2.86
2.73
1.43
-5.51
-0.77
3.11
-1.34
0.44
3.54
0.03
0
0.59
2.69
-1.44
1.74
1.27
1.42
0.1
1.41
1.54
2.24
1.83
-0.85
2.53
-1.57
5.07
-0.39
-2
1.76
4.51
3.08
-2.38
4.93
1.01
10.87
-0.05
-5.22
2.13
6.28
-8.47
-8.65
-6.59
-0.68
1.81
-3.87
-0.18
4.45

196110
196109
196108
196107
196106
196105
196104
196103
196102
196101
196012
196011
196010
196009
196008
196007
196006
196005
196004
196003
196002
196001
195912
195911
195910
195909
195908
195907
195906
195905
195904
195903
195902
195901
195812
195811
195810
195809
195808
195807
195806
195805
195804
195803
195802
195801
195712

2.57
-2.15
2.57
2.83
-3.08
2.4
0.29
2.89
3.57
6.2
4.71
4.69
-0.71
-5.99
3.01
-2.37
2.08
3.12
-1.71
-1.63
1.17
-6.98
2.46
1.6
1.28
-4.81
-1.39
3.17
-0.25
1.73
3.66
0.28
0.95
0.71
5.15
3.01
2.53
4.66
1.91
4.39
2.93
2.31
3.09
3.28
-1.52
4.66
-3.91

195711
195710
195709
195708
195707
195706
195705
195704
195703
195702
195701
195612
195611
195610
195609
195608
195607
195606
195605
195604
195603
195602
195601
195512
195511
195510
195509
195508
195507
195506
195505
195504
195503
195502
195501
195412
195411
195410
195409
195408
195407
195406
195405
195404
195403
195402
195401

2.3
-4.32
-5.98
-5.11
0.67
-0.74
3.45
4.26
2.13
-2.06
-3.57
3.16
0.36
0.52
-5.14
-3.17
4.84
3.48
-5.2
0.28
6.64
3.77
-3.04
1.49
7.03
-2.68
-0.37
0.21
1.9
6.55
0.93
3.11
-0.16
3.02
0.6
5.48
9.38
-1.67
6.39
-2.34
4.99
1.07
3.09
4.27
3.65
1.67
5.13

195312
195311
195310
195309
195308
195307
195306
195305
195304
195303
195302
195301
195212
195211
195210
195209
195208
195207
195206
195205
195204
195203
195202
195201
195112
195111
195110
195109
195108
195107
195106
195105
195104
195103
195102
195101
195012
195011
195010
195009
195008
195007
195006
195005
195004
195003
195002

0.03
2.83
4.59
0.2
-4.51
2.4
-1.89
0.52
-2.83
-1.43
-0.27
-0.34
2.93
5.94
-0.66
-2.04
-0.76
0.91
3.83
3.19
-4.97
4.44
-2.62
1.45
3.33
0.57
-2.53
0.7
4.27
6.94
-2.62
-2.34
4.86
-2.15
1.41
5.7
5.54
2.76
-0.18
4.8
4.86
1.37
-5.94
4.31
3.94
1.26
1.48

195001
194912
194911
194910
194909
194908
194907
194906
194905
194904
194903
194902
194901
194812
194811
194810
194809
194808
194807
194806
194805
194804
194803
194802
194801
194712
194711
194710
194709
194708
194707
194706
194705
194704
194703
194702
194701
194612
194611
194610
194609
194608
194607
194606
194605
194604
194603

1.7
5.13
1.82
3.14
3.09
2.59
5.53
0.1
-2.95
-1.86
4.04
-2.93
0.23
3.25
-9.29
5.96
-2.96
0.25
-5.09
-0.1
7.3
3.65
8.07
-4.38
-3.93
3
-1.96
2.47
-0.54
-1.74
4.14
5.29
-0.97
-4.8
-1.67
-1.07
1.24
4.96
0
-1.42
-10.16
-6.43
-2.69
-3.89
3.92
4.23
5.85

194602
194601
194512
194511
194510
194509
194508
194507
194506
194505
194504
194503
194502
194501
194412
194411
194410
194409
194408
194407
194406
194405
194404
194403
194402
194401
194312
194311
194310
194309
194308
194307
194306
194305
194304
194303
194302
194301
194212
194211
194210
194209
194208
194207
194206
194205
194204

-5.83
6.24
1.19
5.38
3.9
4.77
6.17
-2.16
0.37
1.74
7.79
-3.89
6.22
2.01
4.04
1.7
0.17
0.01
1.56
-1.49
5.48
5.07
-1.69
2.46
0.37
1.72
6.4
-5.87
-1.14
2.4
1.28
-4.76
1.81
5.75
0.78
6.06
6.15
7.12
5.1
0.16
6.78
2.62
1.79
3.5
2.69
5.9
-4.36

194203
194202
194201
194112
194111
194110
194109
194108
194107
194106
194105
194104
194103
194102
194101
194012
194011
194010
194009
194008
194007
194006
194005
194004
194003
194002
194001
193912
193911
193910
193909
193908
193907
193906
193905
193904
193903
193902
193901
193812
193811
193810
193809
193808
193807
193806
193805

-6.55
-2.45
0.77
-4.87
-1.9
-5.18
-0.89
-0.16
5.9
5.83
1.41
-5.44
0.82
-1.44
-4.15
0.71
-1.61
2.99
2.41
2.19
3.17
6.66
-21.92
0.21
2.03
1.43
-2.39
3.03
-3.6
-0.54
16.97
-6.65
10.21
-5.29
6.79
-0.19
-11.95
3.5
-5.94
4.2
-1.72
7.76
0.82
-2.67
7.31
23.77
-3.82

193804
193803
193802
193801
193712
193711
193710
193709
193708
193707
193706
193705
193704
193703
193702
193701
193612
193611
193610
193609
193608
193607
193606
193605
193604
193603
193602
193601
193512
193511
193510
193509
193508
193507
193506
193505
193504
193503
193502
193501
193412
193411
193410
193409
193408
193407
193406

14.49
-23.8
5.83
0.49
-4.18
-8.28
-9.59
-13.57
-4.85
8.83
-4.21
-0.82
-7.33
-0.26
1.09
3.26
0.28
3.25
7.11
1.01
0.98
6.68
2.4
5.17
-8.14
1.04
2.52
6.77
4.56
4.85
7.01
2.64
2.58
7.51
5.87
3.47
8.98
-3.68
-1.87
-3.43
0.37
8.42
-1.74
-0.22
5.71
-11.02
2.64

193405
193404
193403
193402
193401
193312
193311
193310
193309
193308
193307
193306
193305
193304
193303
193302
193301
193212
193211
193210
193209
193208
193207
193206
193205
193204
193203
193202
193201
193112
193111
193110
193109
193108
193107
193106
193105
193104
193103
193102
193101
193012
193011
193010
193009
193008
193007

-7.17
-1.82
0.05
-2.46
12.64
1.89
9.96
-8.33
-10.57
12.03
-9.59
13.08
21.38
38.04
3.35
-15.1
1.27
4.36
-5.61
-13.08
-3.06
36.46
33.6
-0.71
-20.5
-18.02
-11.09
5.41
-1.57
-13.43
-9.22
7.88
-29.08
0.42
-6.6
13.77
-13.18
-9.89
-6.5
10.75
6.17
-7.88
-2.87
-8.82
-12.75
0.33
3.84

193006
193005
193004
193003
193002
193001
192912
192911
192910
192909
192908
192907
192906
192905
192904
192903
192902
192901
192812
192811
192810
192809
192808
192807
192806
192805
192804
192803
192802
192801
192712
192711
192710
192709
192708
192707
192706
192705
192704
192703
192702
192701
192612
192611
192610
192609
192608

-16.13
-1.58
-2.08
7.1
2.55
5.59
1.36
-12.69
-20.06
-5.45
8.22
4.5
9.67
-6.37
1.44
-0.84
-0.26
4.61
0.36
11.8
1.35
2.82
6.67
0.64
-4.85
1.51
4.24
8.87
-1.67
-0.69
2.09
6.6
-4.32
4.8
1.96
7.28
-2.34
5.48
0.49
0.15
4.17
-0.09
2.62
2.54
-3.24
0.38
2.63

192607

2.95
Annual
Mkt-RF
1927
1928
1929
1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941
1942
1943
1944
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969

1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Copyright

2014

40.000
y = 1.2284x + 3.4225
30.000

t-stat
6.6 (statisically significant)
4.1 (statisically significant)

20.000
10.000
0.000
-20

-15

-10

-5
-10.000
-20.000

(R-Sq)

-30.000
-40.000
APL Excess
40.000
30.000
20.000
10.000
0.000
0
-10.000
-20.000
-30.000
-40.000

20

40

60

40.000
30.000
20.000
10.000
0.000
0

10

15

-10.000
-20.000
-30.000
-40.000
APL Excess

60

Market Excess

80

100

120

140

Date
8/1/2012
7/2/2012
6/1/2012
5/1/2012
4/2/2012
3/1/2012
2/1/2012
1/3/2012
12/1/2011
11/1/2011
10/3/2011
9/1/2011
8/1/2011
7/1/2011
6/1/2011
5/2/2011
4/1/2011
3/1/2011
2/1/2011
1/3/2011
12/1/2010
11/1/2010
10/1/2010
9/1/2010
8/2/2010
7/1/2010
6/1/2010
5/3/2010
4/1/2010
3/1/2010
2/1/2010
1/4/2010
12/1/2009
11/2/2009
10/1/2009
9/1/2009
8/3/2009
7/1/2009
6/1/2009
5/1/2009
4/1/2009
3/2/2009
2/2/2009
1/2/2009
12/1/2008
11/3/2008

Open
High
Low
Close
Volume
Adj Close % monthly return
615.91
616.4
603
606.81 1.92E+08
82.45
-0.64
584.73
619.87
570
610.76 1.12E+08
82.98
4.57
569.16
590
548.5
584 98539600
79.35
1.08
584.9
596.76
522.18
577.73 1.32E+08
78.5
-1.06
601.83
644
555
583.98 2.01E+08
79.34
-2.60
548.17
621.45
516.22
599.55 1.85E+08
81.46
10.53
458.41
547.61
453.98
542.44 1.54E+08
73.7
18.83
409.4
458.24
409
456.48 90644200
62.02
12.70
382.54
409.09
377.68
405 77216600
55.03
5.97
397.41
408
363.32
382.2 1.12E+08
51.93
-5.58
380.37
426.7
354.24
404.78 1.61E+08
55
6.16
385.82
422.86
366.48
381.32 1.49E+08
51.81
-0.92
397.78
399.5
353.02
384.83 1.81E+08
52.29
-1.43
335.95
404.5
334.2
390.48 1.41E+08
53.05
16.31
348.87
352.13
310.5
335.67 1.09E+08
45.61
-3.49
349.74
351.83
329.42
347.83 87259700
47.26
-0.65
351.11
355.13
320.16
350.13 1.28E+08
47.57
0.46
355.47
361.67
326.26
348.51 1.26E+08
47.35
-1.33
341.3
364.9
337.72
353.21 1.28E+08
47.99
4.10
325.64
348.6
324.84
339.32 1.4E+08
46.1
5.18
315.27
326.66
314.89
322.56 81440200
43.83
3.67
302.22
321.3
297.76
311.15 1.19E+08
42.28
3.40
286.15
319
277.77
300.98 1.51E+08
40.89
6.07
247.47
294.73
246.28
283.75 1.49E+08
38.55
16.71
260.44
264.28
235.56
243.1 1.14E+08
33.03
-5.49
254.3
265.99
239.6
257.25 1.92E+08
34.95
2.25
259.69
279.01
242.2
251.53 1.98E+08
34.18
-2.06
263.84
267.88
199.25
256.88 2.36E+08
34.9
-1.61
237.41
272.46
232.75
261.09 1.54E+08
35.47
11.09
205.75
237.48
205.45
235 1.37E+08
31.93
14.86
192.37
205.17
190.85
204.62 1.48E+08
27.8
6.51
213.43
215.59
190.25
192.06 2.16E+08
26.1
-8.84
202.24
213.95
188.68
210.73 1.33E+08
28.63
5.41
189.8
208
185.57
199.91 1.11E+08
27.16
6.05
185.35
208.71
180.7
188.5 1.55E+08
25.61
1.71
167.99
188.9
164.11
185.35 1.25E+08
25.18
10.20
165.21
172.49
159.42
168.21 1.01E+08
22.85
2.93
143.5
165
134.42
163.39 1.29E+08
22.2
14.73
136.47
146.4
132.88
142.43 1.49E+08
19.35
4.88
125.8
135.9
119.38
135.81 1.24E+08
18.45
7.89
104.09
127.2
103.89
125.83 1.47E+08
17.1
19.75
88.12
109.98
82.33
105.12 1.82E+08
14.28
17.72
89.1
103
86.51
89.31 1.92E+08
12.13
-0.98
85.88
97.17
78.2
90.13 2.34E+08
12.25
5.60
91.3
103.6
84.55
85.35 2.37E+08
11.6
-7.86
105.93
111.79
79.14
92.67 3.15E+08
12.59
-13.89

10/1/2008
9/2/2008
8/1/2008
7/1/2008
6/2/2008
5/1/2008
4/1/2008
3/3/2008
2/1/2008
1/2/2008
12/3/2007
11/1/2007
10/1/2007
9/4/2007
8/1/2007
7/2/2007
6/1/2007
5/1/2007
4/2/2007
3/1/2007
2/1/2007
1/3/2007
12/1/2006
11/1/2006
10/2/2006
9/1/2006
8/1/2006
7/3/2006
6/1/2006
5/1/2006
4/3/2006
3/1/2006
2/1/2006
1/3/2006
12/1/2005
11/1/2005
10/3/2005
9/1/2005
8/1/2005
7/1/2005
6/1/2005
5/2/2005
4/1/2005
3/1/2005
2/1/2005
1/3/2005
12/1/2004

111.92
172.4
159.9
164.23
188.6
174.96
146.3
124.44
136.24
199.27
181.86
188.6
154.63
139.94
133.64
121.05
121.1
99.59
94.14
84.03
86.23
86.29
91.8
81.1
75.1
68.48
67.22
57.52
59.85
70.77
63.67
68.84
74.95
72.38
68.95
57.24
54.16
47
42.57
36.83
39.89
36.21
42.09
44.99
77.05
64.78
67.79

116.4
173.5
180.45
180.91
189.95
192.24
180
145.74
136.59
200.26
202.96
192.68
190.12
155
139.65
148.92
127.61
122.17
102.5
96.83
90.81
97.8
92.33
93.16
82.6
77.78
70
68.63
63.1
73.8
72.05
69.99
76.46
86.4
75.46
71.07
57.98
54.56
48.33
44.38
40.76
40.94
44.45
45.11
90.88
77.89
67.95

85
100.59
152.91
146.53
164.15
172
143.61
118
115.44
126.14
176.99
150.63
152.93
130
111.62
119.3
115.4
98.55
89.6
83.75
82.86
81.9
76.77
77.79
72.6
67.82
62.58
50.16
55.41
58.69
61.05
57.67
62.9
70.87
68.81
56.87
47.87
46.09
42.02
36.29
35.52
33.11
34
38.83
43.96
62.6
61.6

107.59
113.66
169.53
158.95
167.44
188.75
173.95
143.5
125.02
135.36
198.08
182.22
189.95
153.47
138.48
131.76
122.04
121.19
99.8
92.91
84.61
85.73
84.84
91.66
81.08
76.98
67.85
67.96
57.27
59.77
70.39
62.72
68.49
75.51
71.89
67.82
57.59
53.61
46.89
42.65
36.81
39.76
36.06
41.67
44.86
76.9
64.4

4.68E+08
3.06E+08
1.63E+08
2.32E+08
2.4E+08
2.29E+08
2.72E+08
2.96E+08
3.27E+08
4.35E+08
2.22E+08
3.26E+08
2.62E+08
2.84E+08
2.74E+08
3.07E+08
2.91E+08
2.12E+08
1.76E+08
1.88E+08
1.93E+08
3.51E+08
2.25E+08
1.75E+08
1.69E+08
2.27E+08
2.01E+08
2.3E+08
2.12E+08
1.92E+08
2.75E+08
2.61E+08
2.64E+08
2.85E+08
1.63E+08
1.67E+08
2.33E+08
1.53E+08
1.07E+08
1.33E+08
1.33E+08
1.58E+08
2.39E+08
1.74E+08
2.91E+08
3.42E+08
1.84E+08

14.62
15.44
23.03
21.6
22.75
25.65
23.63
19.5
16.99
18.39
26.91
24.76
25.81
20.85
18.82
17.9
16.58
16.47
13.56
12.62
11.5
11.65
11.53
12.45
11.02
10.46
9.22
9.23
7.78
8.12
9.56
8.52
9.31
10.26
9.77
9.21
7.82
7.28
6.37
5.79
5
5.4
4.9
5.66
6.1
5.22
4.37

-5.31
-32.96
6.62
-5.05
-11.31
8.55
21.18
14.77
-7.61
-31.66
8.68
-4.07
23.79
10.79
5.14
7.96
0.67
21.46
7.45
9.74
-1.29
1.04
-7.39
12.98
5.35
13.45
-0.11
18.64
-4.19
-15.06
12.21
-8.49
-9.26
5.02
6.08
17.77
7.42
14.29
10.02
15.80
-7.41
10.20
-13.43
-7.21
16.86
19.45
-4.17

11/1/2004
10/1/2004
9/1/2004
8/2/2004
7/1/2004
6/1/2004
5/3/2004
4/1/2004
3/1/2004
2/2/2004
1/2/2004
12/1/2003
11/3/2003
10/1/2003
9/2/2003
8/1/2003
7/1/2003
6/2/2003
5/1/2003
4/1/2003
3/3/2003
2/3/2003
1/2/2003
12/2/2002
11/1/2002
10/1/2002
9/3/2002
8/1/2002

52.5
39.12
34.3
31.18
32.1
27.79
26
26.89
24.1
22.46
21.55
21.04
22.83
20.71
22.66
21
18.87
18.1
14.25
14.2
15.01
14.41
14.36
15.9
15.94
14.59
14.49
15.11

69.57
53.2
39.27
35.18
33.63
34.19
28.78
29.58
28.14
24.1
24.84
21.9
23.3
25.01
23.32
22.85
21.57
19.69
19.01
14.95
15.16
15.3
15.38
16.1
17.38
16.44
15.19
16.25

52.04
37.65
34.19
29.7
28.74
27.61
25.5
25.49
23.6
21.7
21.18
19.25
19.85
20.19
20.15
19.42
18.51
16.63
14
12.72
14.04
13.8
13.56
13.78
15.01
13.36
14.05
13.97

67.05
52.4
38.75
34.49
32.34
32.54
28.06
25.78
27.04
23.92
22.56
21.37
20.91
22.89
20.72
22.61
21.08
19.06
17.95
14.22
14.14
15.01
14.36
14.33
15.5
16.07
14.5
14.75

2.2E+08
2.01E+08
96410900
95317300
1.18E+08
1.02E+08
68124900
1.12E+08
1.31E+08
70932400
1.01E+08
63958200
66450000
78895000
67058400
54413300
62724200
75422400
1.33E+08
98018000
51012600
56702600
76036400
56323400
58439400
75079000
69119100
60740900

4.56
3.56
2.63
2.34
2.2
2.21
1.91
1.75
1.84
1.62
1.53
1.45
1.42
1.56
1.41
1.54
1.43
1.29
1.22
0.97
0.96
1.02
0.98
0.97
1.05
1.09
0.99
1

28.09
35.36
12.39
6.36
-0.45
15.71
9.14
-4.89
13.58
5.88
5.52
2.11
-8.97
10.64
-8.44
7.69
10.85
5.74
25.77
1.04
-5.88
4.08
1.03
-7.62
-3.67
10.10
-1

SUMMARY OUTPUT
Regression Statistics
Multiple R
0.521709222
R Square
0.272180513
Adjusted R Square
0.265959833
Standard Error
9.110614936
Observations
119
ANOVA
df
Regression
Residual
Total

Intercept
X Variable 1

SS
3631.738688
9711.386629
13343.12532

MS
F
3631.738688 43.75415
83.00330452

Significance F
1.17113E-09

Coefficients
Standard Error
3.422496152
0.843585816
1.228422674
0.185711253

t Stat
P-value
4.057081195
9E-05
6.614691664 1.17E-09

Lower 95%
1.751818648
0.86063127

1
117
118

Upper 95%
5.093173656
1.596214079

Lower 95.0%
1.751818648
0.86063127

Upper 95.0%
5.093173656
1.596214079