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Table of Contents

Portfolio Selection ..................................................................................................................... 2


Calculations................................................................................................................................ 3
Results ........................................................................................................................................ 5
My Suggestion to 28 year old Investor .................................................................................. 5
My Suggestion to 60 year old Investor .................................................................................. 5
Comments on 3 Assets Portfolio............................................................................................ 5
Appendix .................................................................................................................................... 6

Portfolio Assignment # 3

Page 1

Portfolio Selection
The Portfolio Theory also known as Modern Portfolio Theory was first developed by Harry
Markowitz. He had introduced the theory in his paper Portfolio Selection which was
published in the Journal of Finance in 1952.
The theory suggests a hypothesis on the basis of which, expected return on a portfolio for a
given amount of portfolio risk is attempted to be maximized or alternately the risk on a given
level of expected return is attempted to be minimized. This is done so by choosing the
quantities of various securities cautiously taking mainly into consideration the way in which
the price of each security changes in comparison to that of every other security in the
portfolio, rather than choosing securities individually.
In other words, the theory uses mathematical models to construct an ideal portfolio for an
investor that gives maximum return depending on his risk appetite by taking into
consideration the relationship between risk and return.
According to the theory, each security has its own risks and that a portfolio of diverse
securities shall be of lower risk than a single security portfolio. Simply put, the theory
emphasizes on the importance of diversifying to reduce risk.

Portfolio Assignment # 3

Page 2

Calculations
All the calculations are done in excel. However finals results are shown below. Excel file will
be provided on request. However Data is also shown in at the end Appendix.

S&P

Harris

Urban

Maya

Average

0.75

0.58

0.83

1.08

Variance

18.82

33.62

67.96

158.74

4.3376

5.7985

8.2441

12.5992

Standard Deviation

Covariance
Harris & Maya
Urban & Maya
Harris & Urban

5.828606
23.667598
14.462250

Beta
Harris & Maya
Urban & Maya
Harris & Urban

0.173400
0.149100
0.212800

Alpha
Harris & Maya
Urban & Maya
Harris & Urban

0.977700
0.955700
60.810100

Correlation Coefficient
Harris & Maya
Urban & Maya
Harris & Urban

Portfolio Assignment # 3

0.079800
0.227900
0.302500

Page 3

Portfolio Return of Harris & Maya


Weights
50% in Harris
50% in Maya
Return

0.831

Portfolio Variance
Portfolio S.D

124.059
11.138

Portfolio Return of Urban & Maya


Weights
50% in Urban
50% in Maya
Return

0.95

Portfolio Variance
Portfolio S.D

68.51
8.28

Portfolio Return of Harris & Urban


Weights
50% in Harris
50% in Urban
Return

0.70

Portfolio Variance
Portfolio S.D

32.63
5.71

Three Asset Portfolio Return


Weights
Harris
Urban
Maya

0.33
0.33
0.33

3 Asset Portfolio Return

0.831

3 Asset Portfolio Variance


3 Asset Portfolio S.D

10.01
3.16

Portfolio Assignment # 3

Page 4

Results
Average Return of Maya is 1.08 which is higher than other 3 stocks, and we know that,
Higher the risk, higher the return, so its risk (S.D) is also higher that is 12.59.

My Suggestion to 28 year old Investor


He is quite young and easily takes risk. So, I suggest him to Invest in Maya stock because he
can get highest risk as we know that Higher the Risk, Higher the Return

My Suggestion to 60 year old Investor


Mostly old people cant take risk, so I suggest him to invest in S&P stock or in Urban Stock.
Less Risk is there

Comments on 3 Assets Portfolio


As we seen above that we have reduced our risk to just 3.16 by diversifying our portfolio into
3 securities

Portfolio Assignment # 3

Page 5

Appendix

Year

1
2
3
4
5
6
7

Mon
th

1990

1990

1990

1990

1990

1990

1990

1990

1990

12
13
14
15
16

-6.54
0.63
-0.51

2.49
9.75

-4.22
1.53

0.67
0.32
9.04

2.49
0.32

-9.39
4.87

11

6.71
1.29

Harris

2.65

10

S&P

-0.10
0.43
6.46

5.56

1990

10

1990

11

1990

12

2.79

4.36

1991

6.38
1.38
16.1
2
13.8
3

S&P

Harri
s

Urban

Maya

R-R

R-R

R-R

R-R

-9.68

-7.47

-7.12

-1.14

-10.76

76.66

12.23

8.09

-9.99

0.53

0.05

7.39

-11.07

-0.51

-81.79

0.34

3.90

1.90

-1.09

11.40

2.82

-3.08

32.17

-12.46

-5.78

-3.25

-4.80

-3.71

-6.86

32.91

25.47

17.81

18.37

9.00

0.95

17.71

17.30

16.40

306.34

16.79

-3.42

-1.43

1.90

5.55

-4.50

-8.57

-24.98

10.56

3.42

-1.08

-0.26

-2.21

2.34

-0.62

-5.17

0.58

-26.63

-9.79

-9.97

-16.94

-27.71

276.31

469.47

168.94

-12.04

-5.62

-0.68

-14.66

-13.12

8.96

192.32

10.01

4.98

6.58

-0.12

-0.60

-0.79

32.76

Maya

5
Harris
&
Maya
2*4

Urban
& Maya

Harris &
Urban

3*4

2*3

-1.18

2.94

18.75

5.71

2.35

-1.48

17.67

41.57

-26.22

-3.49

-0.98

2.44

3.51

2.03

-1.57

1.62

2.43

-3.81

3.93

-2.54

-1.89

8.72
1.87
2.69
2.76

5.03

3.60

-2.47

7.89

3.95

-9.75

31.16

-19.48

0.31

6.40

5.14

-2.70

-0.77

-3.96

2.08

-13.85

5.24

1.67

1.51

-3.52

4.17

6.29

-14.65

-5.31

4.15

-0.52

1.03

-3.58

3.07

3.17

-11.00

-3.71

-0.47

3.56

-1.61

6.45

-1.55

2.49

-9.99

-10.39
14.54

5.72

8.21
12.2
3
2.89
18.5
4

0.96

2.42
1991

0.31

7.41
0.66

7.15
1991

Urb
an

2.09
0.24

1991

1991

4.31

-1.03

1991

-1.40

-20.10

-5.34

-1.99

-7.32

-21.18

42.09

155.02

19

1991

4.58
4.66

7.28
6.49

4.31

1.27

0.37

3.91

3.72

0.44

-0.71

-2.65

-0.31

1.64

20

1991

2.37

3.61

7.72

6.88

1.61

3.03

6.89

5.80

17.57

39.95

20.88

1991

1.67
1.34

1.56

-0.88

-2.43

0.98

1.08

-1.96

-1.92

-2.13

1.06

1991

10

-0.54

0.59

2.17

-3.88

-1.62

-3.52

6.29

-8.44

2.20

1.91
3.06
9.74

-7.18

-4.78

1.62

-10.57

-8.26

-13.37

87.29

-17.11

8.20

7.81

10.47

10.68

7.62

6.98

9.39

71.55

65.61

53.20

-5.57

-15.68

-2.62

-6.16

5.62

-16.76

103.22

-94.19

-34.60

25.54

0.54

-3.46

-10.02

24.46

-84.71

-245.02

34.68

-2.47

-2.70

-1.09

-5.54

-3.55

3.86

19.67

6.03

17
18

21
22
23
24
25
26

1991

11

1991

12

1992

1992

1.62

2.76
4.03
11.4
4
1.86
1.30

-0.50

6.44
9.19
4.72

-2.88

1992

28

1992

1.94
2.94

3.97

0.18

-5.98

2.18

3.38

-0.64

-7.06

-23.88

4.52

-2.17

29

1992

0.49

0.60

-1.89

-0.26

0.02

-0.64

-2.96

-0.06

1.90

-0.01

1992

0.69

-10.46

-2.24

0.11

-10.04

-11.54

-1.24

115.91

-1.08

1992

1.49
4.09

0.18
9.22

8.92

0.21

0.92

3.33

8.34

-0.61

-0.16

-1.32

0.10

-5.10

27

30
31

Portfolio Assignment # 3

Page 6

32
33
34
35
36

6.84

6.35
1.44
2.14
1.84
14.1
3
12.2
5
1.87

2.11

3.41

1.72

18.41

1.36

2.83

0.89

17.33

48.97

15.47

2.52

1993

0.58

8.47

-0.10

-3.17

0.00

7.65

-1.18

0.01

-9.01

-0.04

1993

2.42
2.68

-5.55

4.12

1.92

-6.14

4.01

3.04

-18.66

12.19

-24.60

-2.45

-0.46

8.74

-7.55

-3.53

-30.82

26.63

-65.97

1992

1992

2.05
1.18

-4.85
1.44

0.35
1992

10

-1.62
3.40

1992

11

-2.48
1.23

1992

12

6.33
0.84

37
1993
38
39
40
41
42
43
44
45
46
47
48
49

2.16
1.36

1993
1993

1993

1993

1993

10

1993

11

1993

12

-7.18

-6.23

33.83

44.70

38.97

15.96

0.42

0.86

-2.27

14.89

12.74

-33.76

-1.94

-2.40

-0.41

-2.20

-2.97

-3.48

7.66

10.33

6.52

13.11

2.65

-3.07

-2.66

12.03

-36.90

-32.01

8.16

-0.43

0.47

5.74

13.31

-1.51

-8.68

-20.13

76.43

-11.44

0.08

1.58

-13.07

-12.52

-19.80

163.73

-20.68

-4.84

0.61

6.25

-2.70

-5.92

-37.01

15.97

-16.88

9.32
1.56

6.32

-4.68

-1.16

0.97

5.49

-5.76

-5.60

-31.65

5.34

2.44

5.58

3.04

1.86

0.34

4.50

8.36

1.55

0.64

0.77
2.07

-0.75

1.17
3.25
2.38

22.71

-1.52

-1.33

-4.08

21.63

-28.73

-88.25

5.42

10.37

1.31

-0.68

-3.21

9.29

-6.35

-29.79

2.19

3.57
11.8
7
0.10

11.52

-1.71

-5.29

2.74

10.44

-55.27

28.62

-14.51

8.72

0.45

2.09

11.05

7.64

15.94

84.44

23.04

-3.64

2.65

-3.38

-0.93

-4.71

15.92

4.36

3.12

-13.19

-3.47

-7.33

7.75

-14.27

104.53

-110.51

-56.74

-7.27

8.57
4.91

-12.39

-5.11

-7.85

-5.74

-13.47

105.76

77.28

45.06

-0.10
0.95
1.21

-4.71
2.67

3.40
1994

-5.43

0.40
3.79

1993

-2.80

4.83
6.72

0.29
1993

-5.15

-2.79

1994

52

1994

2.71
4.36
1.28

5.59

1.02

-8.72

0.53

5.01

0.20

-9.80

-49.08

-1.94

0.99

53

1994

1.64

-9.41

12.73

0.89

-9.99

2.69

11.65

-116.40

31.29

-26.83

1994

2.45
3.28

-2.26

-7.39

-3.21

-2.85

-1.19

-8.47

24.12

10.12

3.40

1994

3.51
0.37
3.61

8.23

2.53

7.28

-4.44

7.16

52.10

-31.76

-32.32

1994

4.10

5.15

7.59

3.35

4.56

1.60

6.51

29.72

10.39

7.28

1994

-0.50

7.10

-3.20

-1.08

-5.87

6.03

-6.51

-35.38

6.34

1994

10

2.45
2.25

2.42
5.05

1.89

1.35

2.81

1.49

1.31

0.52

1.73

2.27

0.90

0.68

4.90

2.75

3.57

-4.40

4.32

1.92

2.49

10.75

4.79

8.30

-0.48

4.63
5.42

9.28

0.73

-1.06

3.81

8.20

-8.71

31.23

-4.04

50
51

54
55
56
57
58
59
60
61
62

1994

1994

11

1994

12

1995

1995

-6.74

7.86

3.64
1.48
2.59

6.36
3.90

-11.60

1.84

5.78

-6.24

-12.67

-73.27

79.15

-36.10

1.03

3.14

-2.18

3.29

-0.05

0.11

-0.16

-7.18
-108.54

1995

-6.37

4.12
16.4
3

7.01

2.20

-6.96

15.60

5.93

-41.23

92.48

64

1995

2.94

3.05

2.23

3.56

2.19

2.47

1.40

2.48

6.12

3.48

3.45

65

1995

4.00

6.31

7.40

-5.65

3.24

5.73

6.58

-6.73

-38.56

-44.26

37.68

66

1995

2.32

2.45

6.27

11.24

1.57

1.87

5.44

10.17

19.03

55.34

10.19

67

1995

3.32

-1.88

14.36

2.56

-2.46

6.06

13.28

-32.70

80.46

-14.92

1995

6.88
4.20

4.53

-0.50

-0.03

-5.03

3.46

-0.11

-17.38

0.15

1995

4.22

6.49

-2.03

3.47

5.91

5.72

-3.10

-18.35

-17.74

33.78

1995

10

0.36
4.39

4.71

-18.83

-1.11

4.13

-4.95

-19.90

-82.17

98.62

-20.45

1995

11

6.54
4.13
11.5
4

-3.64

3.64

-0.09

10.72

-4.72

0.44

-50.58

-0.99

63

68
69
70
71

-1.60

2.95

0.25
0.55

0.49

Portfolio Assignment # 3

Page 7

72
73
74
75
76

1995

12

1.93

7.18

1996

9.16

7.45
1.22

-7.93

2.65

8.58

-2.04

-9.01

-77.23

18.40

-17.52

1996

0.93

-1.85

4.90

14.28

0.17

-2.43

4.08

13.20

-32.13

53.80

-9.92

0.96

-2.72

6.07

0.21

-3.31

5.85

4.99

-16.51

29.23

-19.36

12.06

0.72

-3.38

-6.12

10.98

-37.09

-67.20

20.67

3.40

1996
1996
1996

78

1996

1.17

6.60

6.62

-13.63

-89.95

-90.22

43.72

-2.79

6.68
5.29

2.58

0.15

4.04

3.99

1.82

-0.44

3.22

2.92

-1.27

9.39

-1.41

0.38

6.13

2.10

-12.00

-0.37

5.55

1.28

-13.08

-72.54

-16.67

7.07

-2.74

1.48

-10.92

-5.17

-3.32

0.65

-11.99

39.85

-7.82

-2.17

1.35

2.48

4.34

1.35

0.76

1.65

3.26

2.49

5.38

1.26

-8.15

4.87

-2.79

3.49

-9.23

25.76

-32.25

-9.75

1.47

77

-12.55

1996

80

1996

4.42
2.11

81

1996

5.63

-2.21

4.32

82

1996

10

2.76

2.36

0.83

-6.91

2.00

1.78

0.00

-7.98

-14.20

-0.01

0.00

83

1996

11

7.56

1.04

4.39

12.19

6.80

0.46

3.56

11.11

5.09

39.58

1.63

1996

12

-1.00

7.07

4.51

-2.74

-1.59

6.24

3.43

-5.44

21.43

-9.90

1997

1.98
6.25

0.51

2.75

5.49

-0.07

-0.34

1.67

-0.12

-0.56

0.03

11.22

0.03

1.67

-5.68

10.14

16.98

-57.64

-9.51

-0.20

-4.86

-1.88

-4.00

-1.27

2.40

5.09

7.51

79

84
85
86
87
88
89
90
91
92
93

1997

1997

-1.92

0.49
4.86
3.17
0.10

4.63

5.22

-2.50

-0.93

3.55

-8.89

-3.29

2.31

1997

6.09

1.69

7.03

2.76

5.33

1.11

6.20

1.68

1.86

10.41

6.87

4.48

3.13

3.97

3.73

2.55

-0.21

2.90

7.38

-0.62

-0.54

6.04

7.20

6.02

9.68

4.96

29.90

48.03

58.27

11.57

-6.36

-1.72

-7.82

10.49

-17.99

-82.06

13.42

1.52

4.72

3.46

-1.04

0.44

1.53

-0.46

-3.60

2.13

-4.09

3.16

-12.75

1.05

3.33

-13.41

-40.34

25.35

3.87

5.48

10.04

24.28

133.08

243.80

55.06

-10.45

0.96

3.48

-8.81

-11.53

-40.08

101.50

-30.63

0.38

0.35

-5.16

-3.61

-0.70

3.59

2.51

18.62

14.74

6.46

-2.13

13.28

13.66

-29.08

181.40

-28.27

5.74

4.37

4.00

-4.84

4.66

18.68

-22.58

-19.39

5.75

0.25

-5.66

-4.88

4.67

-26.44

-22.81

27.62

-11.16

-2.47

-4.40

-5.27

-12.23

53.83

64.42

23.17

20.04

3.31

-0.68

-7.60

18.97

-12.95

-144.13

5.19

6.97

-1.82

-6.05

-13.83

5.89

-35.64

-81.42

83.71

-4.06

-15.21

6.10

-20.85

-5.14

-31.34

107.17

-127.19

-1.87

5.65

7.19

9.98

-2.95

-21.18

-29.41

71.79

0.78
1997

1997

1997

7.77

0.61
10.5
0
7.00
0.21
11.9
3
10.8
7
7.98
2.78
14.1
0
4.02
4.06
4.44
6.77
13.0
0
20.0
3
10.8
1

10

8.13

0.16

9.37

-7.46

7.38

-0.43

8.55

-8.54

3.64

-72.95

-3.65

11

6.06

-4.11

-9.18

5.31

-4.69

7.60

-10.26

48.15

-77.95

-35.67

1997

1997

97
98
99
100
101
102

-1.13
4.05

10

3.75
4.63

1997

11

6.07
1.72

1997

12

4.06
1.11

1998

-4.58
7.21

1998

-1.55
5.12

1998

4.59
1.01

1998

1998

1998

-5.08
1.72
4.06

-3.82
-0.10

1.06

103
1998

104
105

6.61
5.60
5.48
3.34

1997

96

-1.30

7.96

94
95

2.26
4.11
5.97

1998

1998

106

1998

107

1998

-5.47
14.4
6
6.41

6.68

1998

12

1.38

8.42
19.7
9

-8.48

5.01

0.80

-20.62

-9.56

-7.65

197.06

-16.51

1999

4.18

-7.01

6.22

31.01

3.43

-7.59

5.40

29.93

-227.10

161.55

-40.96

3.11

-3.72

3.00

2.91

-3.86

-4.31

2.18

1.83

-7.89

3.99

-9.39

5.76
108
109
110

1999

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111
112
113
114
115
116
117
118

4.00
1999

4.31

4.66
19.3
9

-4.75
3.87

1999

1999

1999

1999

1999

1999

1999

10

2.36
5.55
3.12
0.49
2.74
6.33

121

11

1999

12

2000

2000

2000

122
123
124
125
126
127
128
129
130
131
132

2000

2000

2000

2000

2000

2000

2000

10

2000

11

2000

12

5.89
5.02
1.89
9.78
3.01
2.05
2.47
1.56
6.21

134

2001

2001

135
136
137

2001

2001
139

2001

2001

140

2001
142
143
144
145

10

2001

11

66.49

36.17

16.10

64.13

-51.82

-5.92

3.03

4.89

-3.88

-6.51

2.20

3.81

-24.79

8.38

-14.31

4.25

0.07
6.03

-8.02

-1.25

3.66

-0.75

-9.10

-33.34

6.85

-2.76

9.40

-3.50

-6.71

-6.86

8.32

-55.81

-57.05

46.00

21.79

5.57

0.42

7.14

20.71

8.61

147.85

2.97

-7.42

7.97
11.6
0

21.53

1.28

-8.00

-12.43

20.45

-163.62

-254.11

99.44

2.29

1.90

-35.84

5.14

1.71

1.08

-36.91

-63.03

-39.72

1.84

4.18

-0.74

-5.78

3.60

6.46

-1.82

-6.53

-11.73

23.25

-14.35

7.29
16.7
8

-22.35

-2.65

-14.94

-17.60

-23.43

349.96

412.45

262.94

5.90

2.27

33.60

9.03

5.32

1.44

32.52

172.96

46.94

7.68

22.75

4.86
1.32

12.22

-3.76

22.17

4.03

11.14

246.85

44.92

89.40

-6.13
1.00

-1.36

-25.32

-2.81

-1.94

-2.15

-26.40

51.33

56.69

4.18

11.17

1.71

-17.38

6.11

10.09

-175.43

61.72

-106.27

18.90

-2.32

10.08

15.82

17.82

179.58

281.82

159.40

4.61

5.46

8.19

9.22

3.53

28.94

32.57

75.52

11.11

6.94
16.6
4
10.0
4
17.6
2

9.47

-6.03

10.53

16.79

8.39

88.34

140.88

176.78

6.14

7.33

-7.84

-1.18

5.56

6.50

-8.92

-49.53

-57.96

36.12

12.19

1.95
4.54
11.4
6

-21.48

-8.64

11.61

1.12

-22.56

-261.87

-25.37

13.05

-8.65

-0.27

0.40

-5.36

-9.73

-3.93

52.14

-2.17

28.46

2.79

-7.67

-12.29

27.38

-210.06

-336.48

94.28

6.52
10.5
3
10.8
3

-22.34

-9.87

10.62

5.69

-23.42

-248.77

-133.24

60.45

-14.25

-7.09

-1.82

-11.36

-15.33

27.87

174.09

20.66

-16.62

7.02

4.30

10.01

-17.70

-76.02

-177.07

42.99

1.94
11.6
9

-11.20

-0.08

2.28

1.11

-12.28

-27.95

-13.67

2.53

12.11

-3.19

-8.71

-12.52

11.03

-96.10

-138.09

109.03

5.17
12.3
3
34.6
7
2.79

-7.54

-1.74

-3.22

4.34

-8.62

27.73

-37.46

-13.98

-17.21

-7.01

2.36

-13.16

-18.29

-43.19

240.64

-31.07

3.77

-8.83

-6.23

-35.50

2.69

-16.76

-95.44

221.22

-16.80
10.66

11.21

2.86

-2.63

-5.65
-3.18

2.95

1.15

-3.76

-3.61

1.87

-7.04

-6.76

13.58

15.79

6.92

-0.80

7.26

14.71

-11.80

106.85

-5.83

5.43

8.09
10.3
8

3.84

0.12

4.84

9.56

2.76

13.36

26.36

46.31

-4.21

5.50

4.62

-2.21

-4.79

4.67

3.54

-16.97

16.53

-22.39

-0.22

0.88
2001
2002

12
1

1.46

69.16

-245.42

2.94

7.67

238.02

17.43

1.91
2001

47.79

12.22

-8.13

12.82

3.68

8.08

141

18.56
2.96

4.88

0.98
6.26

3.73
5.44

-1.24

3.12

-14.08

2.43

138

13.90

4.80

-7.09

0.67

29.28

-3.12

7.77
2001

-75.28

18.51

133
9.12
6.34

-73.22

13.30

0.99

13.72

4.51

3.55
2001

-5.49

3.78

8.77
5.28
0.42
7.88
0.49

-5.34

6.02

119
1999

3.25

-13.50

2.03

120

14.80

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146
147
148
149
150
151

2002

2002

2002

2002

2002

2002

2002

1.93
3.76
6.06
0.74
7.12
7.80
0.66

6.39
5.01
-0.73
-5.49
-6.44
-17.87

152

153
2002

2002

10

5.34
10.8
7
8.80

-16.49

154
155
156
157

2002

11

2002

12

2003

2003

158
159
160
161
162
163
164
165
166

2003

2003

2003

2003
2003

177
178
179
180
181
182

-165.58

68.11

36.72

33.66

17.96

3.76

-6.82

-1.31

-8.49

2.68

-3.52

-22.78

11.14

9.64

-1.49

-6.08

-4.92

8.56

-52.04

-42.11

29.87

5.41
7.83
10.4
1

-12.31

-7.88

-7.03

4.58

-13.39

94.04

-61.37

-32.21

-14.94

-8.55

-18.45

-8.66

-16.02

295.47

138.68

159.74

-14.98

-0.10

4.76

-11.23

-16.06

-76.39

180.43

-53.43

-8.04

-11.62

-17.08

-8.86

-9.12

155.70

80.75

151.23

4.09

8.05

-10.75

-13.76

3.01

-32.34

-41.40

147.90

14.59

5.13

12.50

13.93

13.51

168.87

188.22

174.14

-21.19

-6.63

-4.52

-3.90

-22.27

100.64

86.78

17.60

6.36

-3.37

-14.26

-5.17

5.28

-75.25

-27.28

73.70

-1.65

-2.25

-5.93

-13.14

-2.73

16.21

35.92

77.98

13.39

0.22

4.23

-10.00

12.31

52.09

-123.10

-42.28

6.27

7.48

14.77

7.93

5.19

76.66

41.19

117.14

1.54

4.51

10.73

12.12

0.47

5.00

5.65

130.06

9.07

0.52

2.04

10.98

7.99

16.28

87.71

22.36

0.89

1.01

-6.62

-4.42

-0.19

1.26

0.84

29.26

14.31

1.20

1.46

12.48

13.24

19.26

165.19

18.16

-6.65

-1.82

5.29

-9.11

-7.72

-40.84

70.37

-48.16

5.46

4.90

-6.72

11.19

4.38

-29.43

49.05

-75.17

8.03
12.9
3
14.7
6
3.07
4.34
12.3
2
9.17

-0.63

0.08

3.77

0.13

-1.21

-0.74

2.69

-3.27

-2.00

0.90

10.08

9.67
1.03

-0.81

4.49

9.50

8.84

-1.89

-17.91

-16.67

84.02

6.09

1.08

6.33

-1.85

5.01

31.75

-9.28

-11.72

5.98

0.64

6.06

3.36

4.90

29.66

16.47

20.36

-4.68

4.19
5.40

-4.15

-2.26

-5.26

-6.23

-5.23

27.52

32.57

32.78

-7.63

3.84

-7.34

-2.32

-8.22

3.02

-8.42

69.15

-25.41

-24.81

5.42

7.65
11.4
5
0.77

-1.30

0.62

4.84

6.83

-2.38

-11.52

-16.26

33.02

-5.89

1.19

0.04

10.62

-6.97

-0.29

-74.06

0.44

-2.48

-4.06

-3.46

-1.59

-3.55

12.31

5.65

5.51

3.19
1.25
3.43

-3.71

-0.35

5.65

2.37

-4.79

-27.07

-11.34

13.36

6.21

0.33

-3.04

-2.07

5.13

-15.58

-10.64

6.30

4.40

0.77

2.35

-4.26

3.33

7.82

-14.16

-10.01

6.21

3.29

4.15

6.83

5.14

21.29

35.08

28.31

4.05

2.65

-0.19

-4.29

2.97

-0.55

-12.73

0.79

2.55

7.66
3.46
2.36

0.63

-3.19

1.97

-3.19

-0.45

-0.88

1.43

-6.27

-4.36

9.03

-10.85

1.35

-4.94

8.21

-11.93

58.90

-97.87

-40.52

10

2.04
1.06
5.66

5.87

1.84

2004

2004

2004

6.91
1.39
1.51
1.57
1.37

6.64

1.94
6

2004

2004

0.62
3.31
0.40

-2.88
6.23

1.08
9

-2.45
1.53

2004

10

2004

11

2.94
4.05

4.73

3.40
2004

-82.05

8.30

5.24

2003

2004

-14.12

4.06

12

176

11.72

4.43

11

-6.03

2003

2004

5.81

3.01

-6.13

2.62

1.95
2003

-2.68

9.38

0.88

11.31

2004

175

15.35

1.76

174

4.81
8.24

2004

173

-5.35

1.28

2003

172

-13.67

5.27

2003

171

-3.94

-13.04

4.88
7.66
4.09

8.76
12.9
5
11.8
0
3.60
13.3
1
8.28
12.0
2

168

170

13.08
5.87
2.62
1.50
0.97

167

169

-10.17
5.89

12.5
5

12

2005

2005

0.40
2.44
2.10

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2005

185

2005

1.77
1.90
3.18

186

2005

0.14

183
184

187
188
189

2005

6.25

-17.22

-2.53

1.29

5.42

-18.30

-23.66

-99.23

7.01

3.31

1.71

1.82

-2.65

2.72

0.89

0.74

2.01

0.66

2.42

2.23

7.68

0.66

2.43

1.65

6.85

-0.42

-0.69

-2.86

11.28

3.21

-8.01

-0.61

2.62

2.36

-9.09

-23.84

-21.46

6.19

1.19

2.96

4.28

-0.91

0.12

0.50

-0.11

-3.90

4.86

3.19
0.08

0.91
0.81

-3.12

1.81

6.67

-1.67

-3.71

0.98

5.60

-20.74

5.50

-3.64

6.68

-1.14

0.06

6.09

0.46

-2.22

-13.51

-1.02

2.82

-4.48

1.29
4.97

-10.99

-2.42

-5.07

-5.80

-12.07

61.12

69.94

29.36

-2.87

5.78

4.24

3.03

-3.45

4.95

3.17

-10.92

15.68

-17.08

1.41

-7.90

-0.72

0.82

2.08

-8.98

-7.39

-18.69

1.71

3.72
2005

2005

2005

2005

10

191

2005

11

1.67
3.78

192

2005

12

0.03

190

1.88

2006

0.52

2.91
2.85

5.46

1.89

-0.06

-3.67

4.38

-0.28

-16.11

0.23

194

2006

0.27

-1.31

6.75

-12.04

-0.48

-1.89

5.93

-13.12

24.77

-77.72

-11.19

195

2006

1.24

-6.89

7.11

-1.74

0.49

-7.48

6.28

-2.82

21.05

-17.69

-46.98

1.34

-1.75

6.98

-11.70

0.59

-2.33

6.16

-12.78

29.75

-78.67

-14.34

2006

2.88
0.14

3.43

-1.16

-3.63

2.84

-0.81

-2.24

-6.36

1.80

-2.29

2006

-16.87

-0.62

-0.74

-2.53

-17.94

13.30

45.49

1.88

15.40

-0.14

4.78

-6.41

14.32

68.41

-91.76

-30.61

193

196
197

2.65

2006

2006

1.92

0.02
1.71
5.58
2.97

11.59

1.62

1.34

-3.79

10.51

14.06

-39.86

-5.08

201

2006

2.58

-0.40

5.17

6.77

1.82

-0.98

4.35

5.69

-5.60

24.73

-4.28

202

2006

10

3.26

13.81

-7.66

2.50

13.23

0.36

-8.74

-115.67

-3.11

4.70

198
199
200

-0.16
0.62

2006

5.36
2.38

2006

11

1.03

1.18
11.1
3

-0.44

1.15

0.45

10.31

-1.52

-0.68

-15.62

4.65

204

2006

12

1.40

2.48

0.25

-4.38

0.65

1.89

-0.58

-5.46

-10.34

3.14

-1.09

205

2007

1.51

2.13

31.60

0.76

1.55

-0.11

30.53

47.26

-3.51

-0.18

3.94

0.71
2.28

12.89

-2.71

3.36

-3.10

11.81

39.68

-36.64

-10.43
7.62

203

1.90

2007

207

2007

1.96
1.12

8.47

1.79

8.15

0.36

7.89

0.97

7.07

55.80

6.83

208

2007

4.43

2.92

4.50

7.45

3.67

2.33

3.67

6.37

14.85

23.40

8.57

209

2007

3.49

-4.48

17.34

2.73

-5.06

7.61

16.26

-82.34

123.79

-38.55

2007

8.44
4.50

-3.03

-2.42

-6.12

-5.33

-4.11

25.14

21.89

32.62

2007

-24.27

-3.86

-4.12

6.63

-25.35

104.55

-168.19

-27.36

2007

7.46
6.27

-5.51

0.74

2.49

-7.09

-6.59

-16.41

46.75

-17.67

-13.18

2.99

2.91

7.65

-14.26

-41.56

-109.07

22.29

-0.29

0.84

3.94

-7.02

-1.37

-5.41

9.64

-27.66

-9.17

-4.94

-0.95

-6.71

-10.25

9.76

68.73

6.39

-8.96

-1.45

-3.01

-6.41

-10.04

30.25

64.43

19.32

2.81

-6.75

-8.91

-5.82

1.73

-15.39

-10.05

51.84

0.48

-4.00

-3.96

-0.91

-0.60

2.39

0.55

3.62

-6.98

-1.19

1.05

-11.10

-8.06

-8.48

89.38

-11.68

-14.56

4.12

6.52

13.18

-15.64

-102.03

-206.14

85.98

5.30

0.54

-4.92

-2.92

4.22

-20.74

-12.30

14.34

-5.06

8.47
6.20
5.88
5.59
4.99
0.09
10.2
7
14.0
1
2.09
20.7
0

-16.35

-9.18

-5.64

-21.52

-17.42

98.34

375.06

121.48

-1.91

35.84

-1.60

-2.50

-7.94

34.76

-86.82

-276.01

19.83

206

210
211
212
213
214
215
216
217
218

2007

221

2007

-3.54
3.07

3.74

10

2007

11

2007

12

2008

2008

2008

3.50
4.52

4.18
0.69
6.00
3.25
0.43

-0.37
-2.43
-8.33
-3.38

1.64
4.87

2008

7.11
1.30

2008

-4.33
8.43

222
223

-5.54

1.59

219
220

1.66
3.10
1.50

2008

2008

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0.84
224

2008

2008

226
2008

10

2008

11

227

229

232
233
234
235
236
237

2008
2009

2009

2009

AV
G
VA
R

6.26
8.43
10.6
5
8.76

-5.90

-9.32
-10.05

9.57
2009

4.33
5.59

2009

1.30
0.20

2009

2009

9.58
7.56

7.07

3.61
2009

2009

2.74
3.73

-1.50

11
12

0.69

-0.81

7.01

12.79

-10.35

89.67

-5.68

-9.20

-9.67

-5.83

-13.45

-10.28

59.94

138.24

78.42

-26.84

-17.55

-12.57

-9.52

-27.91

350.75

265.80

119.64

-20.32

-7.93

-3.53

-18.84

-21.40

75.61

403.14

66.56

21.12

0.31

5.68

-0.83

20.04

113.76

-16.66

-4.72

-4.12

-9.18

-6.48

-1.77

-5.20

33.70

9.20

11.47

-36.14

-11.40

-9.90

-25.62

-37.22

368.50

953.65

253.71

16.82

8.00

-10.63

12.24

15.74

-167.29

192.67

-130.13

64.19

8.82

3.75

11.64

63.12

236.75

734.53

43.65

-4.65

4.84

0.72

12.11

-5.72

-4.12

-69.31

8.71

3.77

-0.56

9.00

-6.17

2.69

24.21

-16.59

-55.47

0.86
16.6
3

11.00

6.81

6.48

0.04

9.92

64.33

0.39

0.26

-2.55

2.86

2.16

15.81

-3.63

-7.84

-57.36

34.14

9.42

2.98

-2.08

8.09

8.34

-17.37

67.50

-16.86

1.83

-2.61

-3.17

-12.65

0.75

-2.38

-9.52

40.08

7.78

13.04

5.25

7.19

9.60

11.97

86.06

114.84

69.03

7.98

3.18

3.29

1.18

7.39

2.36

2.21

16.38

5.22

17.42

0.75
18.8
2

0.58

0.83
67.9
6

1.08

1,398.8
7

5,680.22

3,470.94

-2.58
6.00

2009

8.70
18.0
1
0.01
0.94
24.8
0
13.0
7
12.4
6
12.9
3
5.34

13.87

1.93

10

2009

7.84
12.6
2

8.92
11.8
3
10.4
2

1.86
2009

240

-11.98

-2.95

12

238
239

-5.25
16.7
9
7.18
1.06

230
231

-0.23

8.91

225

228

1.45

7.11

33.62

Portfolio Assignment # 3

Sum

158.74

Page 12