Microsoft Excel 15.

0 Answer Report
Worksheet: [Book1]Sheet1
Report Created: 1/25/2016 6:03:56 PM
Result: Solver found a solution. All Constraints and optimality conditions are satisfied.
Solver Engine
Engine: GRG Nonlinear
Solution Time: 0 Seconds.
Iterations: 0 Subproblems: 0
Solver Options
Max Time Unlimited, Iterations Unlimited, Precision 0.000001
Convergence 0.0001, Population Size 10000, Random Seed 0, Derivatives Forward
Max Subproblems Unlimited, Max Integer Sols Unlimited, Integer Tolerance 1%, Assume NonNeg

Objective Cell (Min)

Cell Name Original Value Final Value
$E$21 Minimum variance C 1410114.57622 1410114.57622

Variable Cells
Cell Name Original Value Final Value
$C$18 Optimum % = A 33.33% 33.33%
$D$18 Optimum % = B 33.33% 33.33%
$E$18 Optimum % = C 33.34% 33.34%

Constraints
Cell Name Cell Value Formula
$E$19 C 100.00% $E$19=1
$G$18 Optimum % = Covariance Matrix 11.860279 $G$18>=$G$19
$C$18 Optimum % = A 33.33% $C$18>=0
$D$18 Optimum % = B 33.33% $D$18>=0
$E$18 Optimum % = C 33.34% $E$18>=0
nditions are satisfied.

ves Forward
nce 1%, Assume NonNegative

Integer
Contin
Contin
Contin

Status Slack
Binding 0
Not Binding 11.740279
Not Binding 33.33%
Not Binding 33.33%
Not Binding 33.34%
 Returns
Company Infosys HUL HDFC
1 0.32 0.10 0.83
2 0.35 -0.01 0.14
3 -0.29 0.11 0.57
4 -0.08 0.01 -0.41
5 0.98 0.20 0.92
6 0.24 0.43 0.29
7 -0.12 0.14 -0.04
8 0.01 0.30 0.23
9 0.14 0.44 0.07
10 0.35 -0.10 0.49
Average Returns = 0.19 0.16 0.31

Optimum % = 0.03 0.23 0.74

1.00

Minimum variance 0.02

 Covariance Matrix 2005
0 1 2 2006
0 0.12 0.00 0.08 2007
1 0.00 0.03 0.00 2008
2 0.08 0.00 0.16 2009
2010
2011
2012
2013
2014
2015

0.27 Calculated return

0.25 Target return
 Prices
Infosys HUL HDFC

282.15 197.20 145.80

372.67 216.40 267.36
504.66 213.70 303.96
359.98 237.50 475.95
330.98 239.55 282.44
653.99 287.10 543.44
810.33 410.05 701.20
716.58 466.95 673.30
722.34 605.55 826.25
820.70 873.55 883.90
1109.18 783.30 1315.70

145.80 0.83
267.36 0.14
303.96 0.57
475.95 -0.41
282.44 0.92
543.44 0.29
701.20 -0.04
673.30 0.23
826.25 0.07
883.90 0.49
1315.70 -1.00