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Teoría Financiera y Costo de Capital

PORTAFOLIO DE ACTIVOS FINANCIEROS

I. ESTADIGRAFOS EN LA CONSTRUCCION DE PORTAFOLIOS DE "N" ACTIVOS

1. Precio de Acciones

Nº Fecha TSLA AMZN BAP INRETAIL BVN KO AAPL ETF SPY


TSLA AMZN BAP INRETAIL BVN KO AAPL ETF SPY
1 6/1/2022 737.12 116.46 124.91 25.45 6.59 58.26 129.07 35.62
2 5/1/2022 758.26 120.21 140.38 30.08 6.84 59.66 132.71 37.64
3 4/1/2022 870.76 124.28 138.89 35.85 8.66 61.72 155.38 39.62
4 3/1/2022 1,077.60 163.00 171.87 36.00 9.81 57.50 150.10 39.53
5 2/1/2022 870.43 153.56 151.25 33.50 7.30 59.22 152.00 38.89
6 1/1/2022 936.72 149.57 143.22 34.15 7.03 58.38 154.70 39.43
7 12/1/2021 1,056.78 166.72 122.07 32.70 6.46 52.28 157.80 39.12
8 11/1/2021 1,144.76 175.35 118.00 35.00 6.26 52.44 147.48 39.44
9 10/1/2021 1,114.00 168.62 129.66 33.30 6.54 52.40 138.27 38.94
10 9/1/2021 775.48 164.25 110.94 26.80 6.60 52.43 141.27 38.49
11 8/1/2021 735.72 173.54 106.63 26.30 6.11 55.45 144.50 39.52
12 7/1/2021 687.20 166.38 100.96 35.00 8.07 53.55 135.76 38.24
13 6/1/2021 679.70 172.01 121.11 33.20 8.68 53.72 123.13 38.67
14 5/1/2021 625.22 161.15 137.47 34.51 9.47 53.61 122.25 39.07
15 4/1/2021 709.44 173.37 119.40 33.35 9.41 52.29 122.49 37.85
16 3/1/2021 667.93 154.70 136.57 41.80 9.92 49.40 116.21 35.68
17 2/1/2021 675.50 154.65 160.01 42.00 9.85 48.18 118.39 33.89
18 1/1/2021 793.53 160.31 150.33 39.20 9.81 48.11 126.38 33.65
19 12/1/2020 705.67 162.85 164.02 35.00 11.38 51.63 120.01 33.32
20 11/1/2020 567.60 158.40 153.91 32.00 10.22 48.24 107.32 29.78
21 10/1/2020 388.04 151.81 114.68 30.30 11.88 47.30 107.72 29.19
22 9/1/2020 429.01 157.44 123.99 31.20 11.24 47.56 103.10 29.05
23 8/1/2020 498.32 172.55 130.48 30.99 11.38 46.22 107.89 30.00
24 7/1/2020 286.15 158.23 127.17 31.30 8.89 43.83 89.14 28.40
25 6/1/2020 215.96 137.94 133.67 30.80 7.84 43.51 79.30 28.08
26 5/1/2020 167.00 122.12 137.82 29.95 7.26 43.20 71.46 26.39
27 4/1/2020 156.38 123.70 149.02 26.02 6.68 41.80 59.23 24.44
28 3/1/2020 104.80 97.49 143.07 27.63 5.12 36.27 53.15 21.77
29 2/1/2020 133.60 94.19 181.27 33.68 11.15 51.58 64.09 29.89
30 1/1/2020 130.11 100.44 206.58 35.05 12.13 54.09 73.19 33.87

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 1


Teoría Financiera y Costo de Capital

31 12/1/2019 83.67 92.39 213.13 33.88 14.43 52.85 64.07 33.29


32 11/1/2019 65.99 90.04 211.19 32.50 14.63 51.58 62.29 33.00
33 10/1/2019 62.98 88.83 214.04 34.37 13.77 52.82 53.78 30.59
34 9/1/2019 48.17 86.80 208.44 35.64 13.93 53.63 51.05 30.55
35 8/1/2019 45.12 88.81 207.12 34.86 13.91 51.40 48.15 29.85
36 7/1/2019 48.32 93.34 217.99 37.12 15.07 50.78 49.60 31.37
37 6/1/2019 44.69 94.68 228.91 35.74 15.08 49.02 42.57 29.16
38 5/1/2019 37.03 88.75 223.80 35.50 14.15 47.07 43.75 29.12
39 4/1/2019 47.74 96.33 236.90 33.84 15.13 46.03 47.09 30.45
40 3/1/2019 55.97 89.04 239.95 33.17 15.98 44.61 42.38 29.43
41 2/1/2019 63.98 81.99 243.09 31.22 15.42 44.42 41.48 29.16
42 1/1/2019 61.40 85.94 242.78 26.98 14.80 46.34 35.50 26.58
43 12/1/2018 66.56 75.10 221.67 26.83 14.24 45.66 36.65 25.44
44 11/1/2018 70.10 84.51 219.29 24.40 13.46 47.29 42.56 29.09
45 10/1/2018 67.46 79.90 225.71 23.83 12.44 44.25 51.52 28.54
46 9/1/2018 52.95 100.15 223.08 23.73 12.07 44.51 53.83 31.05
47 8/1/2018 60.33 100.64 218.02 23.92 11.67 44.39 49.33 30.37
48 7/1/2018 59.63 88.87 228.77 23.83 12.32 43.58 45.85 29.39
49 6/1/2018 68.59 84.99 225.12 23.54 13.54 42.96 45.18 29.38
50 5/1/2018 56.95 81.48 221.42 22.44 14.91 41.45 41.32 28.71
51 4/1/2018 58.78 78.31 232.49 20.97 15.29 41.90 40.16 28.45
52 3/1/2018 53.23 72.37 227.04 20.26 14.26 42.25 41.23 28.63
53 2/1/2018 68.61 75.62 216.45 19.83 14.13 42.19 37.56 28.70
54 1/1/2018 70.86 72.54 231.63 19.30 13.99 45.34 41.17 30.72
55 12/1/2017 62.27 58.47 207.43 18.11 12.69 44.92 41.62 30.06
56 11/1/2017 61.77 58.84 211.03 18.92 13.34 45.03 41.32 29.17
57 10/1/2017 66.31 55.26 209.44 18.11 12.65 44.74 38.12 29.16
58 9/1/2017 68.22 48.07 205.02 17.54 12.57 44.38 37.29 28.19
59 8/1/2017 71.18 49.03 202.84 17.44 11.83 45.25 37.10 28.05
60 7/1/2017 64.69 49.39 185.14 16.20 11.17 44.15 35.60 28.25
61 72.32 48.40 179.39 16.26 10.87 44.65 35.55 28.05

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 2


Teoría Financiera y Costo de Capital

2. Rentabilidad de Acciones

Nº Fecha TSLA AMZN BAP INRETAIL BVN KO AAPL ETF SPY


TSLA AMZN BAP INRETAIL BVN KO AAPL ETF SPY
1 6/1/2022 -2.79% -3.12% -11.02% -15.39% -3.73% -2.35% -2.74% 5.67%
2 5/1/2022 -12.92% -3.27% 1.07% -16.09% -21.02% -3.34% -14.59% 5.26%
3 4/1/2022 -19.19% -23.75% -19.19% -0.42% -11.72% 7.34% 3.52% -0.23%
4 3/1/2022 23.80% 6.15% 13.63% 7.46% 34.38% -2.90% -1.25% -1.62%
5 2/1/2022 -7.08% 2.67% 5.61% -1.90% 3.84% 1.44% -1.75% 1.39%
6 1/1/2022 -11.36% -10.29% 17.33% 4.43% 8.82% 11.67% -1.96% -0.79%
7 12/1/2021 -7.69% -4.92% 3.45% -6.57% 3.26% -0.31% 7.00% 0.82%
8 11/1/2021 2.76% 3.99% -8.99% 5.11% -4.34% 0.08% 6.66% -1.27%
9 10/1/2021 43.65% 2.66% 16.87% 24.25% -0.91% -0.06% -2.12% -1.16%
10 9/1/2021 5.40% -5.35% 4.04% 1.90% 8.02% -5.45% -2.24% 2.68%
11 8/1/2021 7.06% 4.30% 5.62% -24.86% -24.24% 3.55% 6.44% -3.24%
12 7/1/2021 1.10% -3.27% -16.64% 5.42% -7.09% -0.32% 10.26% 1.12%
13 6/1/2021 8.71% 6.74% -11.90% -3.80% -8.33% 0.21% 0.72% 1.03%
14 5/1/2021 -11.87% -7.05% 15.13% 3.47% 0.63% 2.52% -0.20% -3.12%
15 4/1/2021 6.21% 12.07% -12.57% -20.21% -5.14% 5.85% 5.40% -5.73%
16 3/1/2021 -1.12% 0.03% -14.65% -0.48% 0.71% 2.53% -1.84% -5.02%
17 2/1/2021 -14.87% -3.53% 6.44% 7.14% 0.41% 0.15% -6.32% -0.71%
18 1/1/2021 12.45% -1.56% -8.35% 12.00% -13.80% -6.82% 5.31% -0.98%
19 12/1/2020 24.33% 2.81% 6.57% 9.38% 11.35% 7.03% 11.82% -10.62%
20 11/1/2020 46.27% 4.34% 34.21% 5.61% -13.97% 1.99% -0.37% -1.98%
21 10/1/2020 -9.55% -3.58% -7.51% -2.88% 5.69% -0.55% 4.48% -0.48%
22 9/1/2020 -13.91% -8.76% -4.97% 0.68% -1.23% 2.90% -4.44% 3.27%
23 8/1/2020 74.15% 9.05% 2.60% -0.99% 28.01% 5.45% 21.03% -5.33%
24 7/1/2020 32.50% 14.71% -4.86% 1.62% 13.38% 0.74% 12.41% -1.13%
25 6/1/2020 29.32% 12.95% -3.01% 2.84% 8.00% 0.72% 10.97% -6.02%
26 5/1/2020 6.79% -1.28% -7.52% 15.10% 8.68% 3.35% 20.65% -7.39%
27 4/1/2020 49.22% 26.88% 4.16% -5.83% 30.47% 15.25% 11.44% -10.92%
28 3/1/2020 -21.56% 3.50% -21.07% -17.96% -54.08% -29.68% -17.07% 37.30%
29 2/1/2020 2.68% -6.22% -12.25% -3.92% -8.08% -4.64% -12.43% 13.32%
30 1/1/2020 55.50% 8.71% -3.07% 3.48% -15.94% 2.35% 14.23% -1.71%

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 3


Teoría Financiera y Costo de Capital

31 12/1/2019 26.79% 2.61% 0.92% 4.23% -1.37% 2.46% 2.86% -0.87%


32 11/1/2019 4.78% 1.36% -1.33% -5.43% 6.25% -2.35% 15.82% -7.30%
33 10/1/2019 30.75% 2.34% 2.69% -3.58% -1.15% -1.51% 5.35% -0.13%
34 9/1/2019 6.76% -2.26% 0.64% 2.25% 0.14% 4.34% 6.02% -2.29%
35 8/1/2019 -6.62% -4.85% -4.99% -6.08% -7.70% 1.22% -2.92% 5.09%
36 7/1/2019 8.12% -1.42% -4.77% 3.84% -0.07% 3.59% 16.51% -7.04%
37 6/1/2019 20.69% 6.68% 2.28% 0.69% 6.61% 4.14% -2.70% -0.14%
38 5/1/2019 -22.43% -7.87% -5.53% 4.90% -6.51% 2.26% -7.09% 4.57%
39 4/1/2019 -14.70% 8.19% -1.27% 2.01% -5.32% 3.18% 11.11% -3.35%
40 3/1/2019 -12.52% 8.60% -1.29% 6.26% 3.63% 0.43% 2.17% -0.92%
41 2/1/2019 4.20% -4.60% 0.13% 15.72% 4.19% -4.14% 16.85% -8.85%
42 1/1/2019 -7.75% 14.43% 9.52% 0.53% 3.93% 1.49% -3.14% -4.29%
43 12/1/2018 -5.05% -11.13% 1.09% 9.96% 5.79% -3.45% -13.89% 14.35%
44 11/1/2018 3.91% 5.77% -2.84% 2.40% 8.20% 6.87% -17.39% -1.89%
45 10/1/2018 27.40% -20.22% 1.18% 0.40% 3.07% -0.58% -4.29% 8.79%
46 9/1/2018 -12.23% -0.49% 2.32% -0.79% 3.43% 0.27% 9.12% -2.19%
47 8/1/2018 1.17% 13.24% -4.70% 0.40% -5.28% 1.86% 7.59% -3.23%
48 7/1/2018 -13.06% 4.57% 1.62% 1.21% -9.01% 1.44% 1.48% -0.03%
49 6/1/2018 20.44% 4.31% 1.67% 4.92% -9.19% 3.64% 9.34% -2.28%
50 5/1/2018 -3.11% 4.05% -4.76% 7.00% -2.47% -1.07% 2.89% -0.91%
51 4/1/2018 10.43% 8.21% 2.40% 3.48% 7.21% -0.83% -2.60% 0.63%
52 3/1/2018 -22.42% -4.30% 4.89% 2.21% 0.92% 0.14% 9.77% 0.24%
53 2/1/2018 -3.18% 4.25% -6.55% 2.71% 1.00% -6.95% -8.77% 7.04%
54 1/1/2018 13.79% 24.06% 11.67% 6.58% 10.24% 0.93% -1.08% -2.15%
55 12/1/2017 0.81% -0.63% -1.71% -4.28% -4.87% -0.24% 0.73% -2.96%
56 11/1/2017 -6.85% 6.48% 0.76% 4.47% 5.45% 0.65% 8.39% -0.03%
57 10/1/2017 -2.80% 14.96% 2.16% 3.26% 0.64% 0.81% 2.23% -3.33%
58 9/1/2017 -4.16% -1.96% 1.07% 0.54% 6.26% -1.92% 0.51% -0.50%
59 8/1/2017 10.03% -0.73% 9.56% 7.65% 5.91% 2.49% 4.21% 0.71%
60 7/1/2017 -10.55% 2.05% 3.21% -0.35% 2.76% -1.12% 0.14% -0.71%

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 4


Teoría Financiera y Costo de Capital

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 5


Teoría Financiera y Costo de Capital

II. PORTAFOLIO DE ACTIVO

3. Rentabilidad Esperada y Riesgo 1. Participacion Relativa

Concepto TSLA AMZN BAP INRETAIL BVN KO AAPL ETF SPY N


R1 R2 R3 R4 R5 R6 R7 R8
Promedio 5.68% 1.86% -0.18% 1.10% 0.08% 0.61% 2.54% -0.19% 1
Desv Est 20.32% 8.83% 9.34% 8.22% 12.62% 5.55% 8.65% 6.82% 2
3
4. Matriz de Varianza-Covarianza 4
Matriz de correlación 5
TSLA AMZN BAP INRETAIL BVN KO AAPL ETF SPY 6
TSLA 1 7
AMZN 0.40216296 1 8
BAP 0.29802994 0.15460785 1 9
INRETAIL 0.18864173 -0.05731812 0.31498711 1 10
BVN 0.34811026 0.23202586 0.35210013 0.38535328 1 11
KO 0.2660927 0.12856811 0.29833491 0.14491098 0.53063894 1 12
AAPL 0.38534808 0.23612384 0.00360807 0.19168502 0.3119399 0.37577673 1 13
ETF 0.34577749 0.36609443 0.28711731 0.26763508 0.54372857 0.71446153 0.70798685 1 14
15
16
Matriz de covarianzas 17
TSLA AMZN BAP INRETAIL BVN KO AAPL ETF SPY 18
TSLA 0.04058805 0.00709441 0.00556162 0.00309603 0.00877741 0.00294915 0.00666226 0.00409902 19
AMZN 0.00709441 0.00766709 0.00125398 -0.00040886 0.00254274 0.00061932 0.00177429 0.00188622 20
BAP 0.00556162 0.00125398 0.00857994 0.00237686 0.00408187 0.00152024 2.868E-05 0.0015649 21
INRETAIL 0.00309603 -0.00040886 0.00237686 0.00663646 0.00392896 0.00064943 0.00134006 0.00128291 22
BVN 0.00877741 0.00254274 0.00408187 0.00392896 0.01566393 0.00365354 0.00335035 0.00400421 23
KO 0.00294915 0.00061932 0.00152024 0.00064943 0.00365354 0.00302642 0.00177404 0.00231275 24
AAPL 0.00666226 0.00177429 2.868E-05 0.00134006 0.00335035 0.00177404 0.00736443 0.00357503 25
ETF 0.00409902 0.00188622 0.0015649 0.00128291 0.00400421 0.00231275 0.00357503 0.00346233 26
27
28
29
30

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 6


Teoría Financiera y Costo de Capital

31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 7


Teoría Financiera y Costo de Capital

70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 8


Teoría Financiera y Costo de Capital

109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 9


Teoría Financiera y Costo de Capital

148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184
185
186

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 10


Teoría Financiera y Costo de Capital

187
188
189
190
191
192
193
194
195
196
197
198
199
200
201
202
203
204
205
206
207
208
209
210
211
212
213
214
215
216
217
218
219
220
221
222
223
224
225

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 11


Teoría Financiera y Costo de Capital

226
227
228
229
230
231
232
233
234
235
236
237
238
239
240
241
242
243
244
245
246
247
248
249
250
251
252
253
254
255
256
257
258
259
260
261
262
263
264

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 12


Teoría Financiera y Costo de Capital

265
266
267
268
269
270
271
272
273
274
275
276
277
278
279
280
281
282
283
284
285
286
287
288
289
290
291
292
293
294
295
296
297
298
299
300
301
302
303

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 13


Teoría Financiera y Costo de Capital

304
305
306
307
308
309
310
311
312
313
314
315
316
317
318
319
320
321
322
323
324
325
326
327
328
329
330
331
332
333
334
335
336
337
338
339
340
341
342

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 14


Teoría Financiera y Costo de Capital

343
344
345
346
347
348
349
350
351
352
353
354
355
356
357
358
359
360
361
362
363
364
365
366
367
368
369
370
371
372
373
374
375
376
377
378
379
380
381

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 15


Teoría Financiera y Costo de Capital

382
383
384
385
386
387
388
389
390
391
392
393
394
395
396
397
398
399
400
401
402
403
404
405
406
407
408
409
410
411
412
413
414
415
416
417
418
419
420

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 16


Teoría Financiera y Costo de Capital

421
422
423
424
425
426
427
428
429
430
431
432
433
434
435
436
437
438
439
440
441
442
443
444
445
446
447
448
449
450
451
452
453
454
455
456
457
458
459

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 17


Teoría Financiera y Costo de Capital

460
461
462
463
464
465
466
467
468
469
470
471
472
473
474
475
476
477
478
479
480
481
482
483
484
485
486
487
488
489
490
491
492
493
494
495
496
497
498

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 18


Teoría Financiera y Costo de Capital

499
500

Estimación de Participaciones

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 19


Teoría Financiera y Costo de Capital

33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 20


Teoría Financiera y Costo de Capital

72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 21


Teoría Financiera y Costo de Capital

111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 22


Teoría Financiera y Costo de Capital

150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184
185
186
187
188

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 23


Teoría Financiera y Costo de Capital

189
190
191
192
193
194
195
196
197
198
199
200
201
202
203
204
205
206
207
208
209
210
211
212
213
214
215
216
217
218
219
220
221
222
223
224
225
226
227

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 24


Teoría Financiera y Costo de Capital

228
229
230
231
232
233
234
235
236
237
238
239
240
241
242
243
244
245
246
247
248
249
250
251
252
253
254
255
256
257
258
259
260
261
262
263
264
265
266

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 25


Teoría Financiera y Costo de Capital

267
268
269
270
271
272
273
274
275
276
277
278
279
280
281
282
283
284
285
286
287
288
289
290
291
292
293
294
295
296
297
298
299
300
301
302
303
304
305

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 26


Teoría Financiera y Costo de Capital

306
307
308
309
310
311
312
313
314
315
316
317
318
319
320
321
322
323
324
325
326
327
328
329
330
331
332
333
334
335
336
337
338
339
340
341
342
343
344

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 27


Teoría Financiera y Costo de Capital

345
346
347
348
349
350
351
352
353
354
355
356
357
358
359
360
361
362
363
364
365
366
367
368
369
370
371
372
373
374
375
376
377
378
379
380
381
382
383

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 28


Teoría Financiera y Costo de Capital

384
385
386
387
388
389
390
391
392
393
394
395
396
397
398
399
400
401
402
403
404
405
406
407
408
409
410
411
412
413
414
415
416
417
418
419
420
421
422

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 29


Teoría Financiera y Costo de Capital

423
424
425
426
427
428
429
430
431
432
433
434
435
436
437
438
439
440
441
442
443
444
445
446
447
448
449
450
451
452
453
454
455
456
457
458
459
460
461

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 30


Teoría Financiera y Costo de Capital

462
463
464
465
466
467
468
469
470
471
472
473
474
475
476
477
478
479
480
481
482
483
484
485
486
487
488
489
490
491
492
493
494
495
496
497
498
499
500

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 31


Teoría Financiera y Costo de Capital

Estimación Aleatoria

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 32


Teoría Financiera y Costo de Capital

35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 33


Teoría Financiera y Costo de Capital

74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 34


Teoría Financiera y Costo de Capital

113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 35


Teoría Financiera y Costo de Capital

152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184
185
186
187
188
189
190

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 36


Teoría Financiera y Costo de Capital

191
192
193
194
195
196
197
198
199
200
201
202
203
204
205
206
207
208
209
210
211
212
213
214
215
216
217
218
219
220
221
222
223
224
225
226
227
228
229

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 37


Teoría Financiera y Costo de Capital

230
231
232
233
234
235
236
237
238
239
240
241
242
243
244
245
246
247
248
249
250
251
252
253
254
255
256
257
258
259
260
261
262
263
264
265
266
267
268

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 38


Teoría Financiera y Costo de Capital

269
270
271
272
273
274
275
276
277
278
279
280
281
282
283
284
285
286
287
288
289
290
291
292
293
294
295
296
297
298
299
300
301
302
303
304
305
306
307

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 39


Teoría Financiera y Costo de Capital

308
309
310
311
312
313
314
315
316
317
318
319
320
321
322
323
324
325
326
327
328
329
330
331
332
333
334
335
336
337
338
339
340
341
342
343
344
345
346

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 40


Teoría Financiera y Costo de Capital

347
348
349
350
351
352
353
354
355
356
357
358
359
360
361
362
363
364
365
366
367
368
369
370
371
372
373
374
375
376
377
378
379
380
381
382
383
384
385

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 41


Teoría Financiera y Costo de Capital

386
387
388
389
390
391
392
393
394
395
396
397
398
399
400
401
402
403
404
405
406
407
408
409
410
411
412
413
414
415
416
417
418
419
420
421
422
423
424

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 42


Teoría Financiera y Costo de Capital

425
426
427
428
429
430
431
432
433
434
435
436
437
438
439
440
441
442
443
444
445
446
447
448
449
450
451
452
453
454
455
456
457
458
459
460
461
462
463

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 43


Teoría Financiera y Costo de Capital

464
465
466
467
468
469
470
471
472
473
474
475
476
477
478
479
480
481
482
483
484
485
486
487
488
489
490
491
492
493
494
495
496
497
498
499
500

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 44


Teoría Financiera y Costo de Capital

II. PORTAFOLIO DE ACTIVOS RIESGOSOS

. Participacion Relativa 2. Rentabilidad y Riesgo del Po

TSLA AMZN BAP INRETAIL BVN KO AAPL ETF SPY Total Nº


w1 w2 w3 w4 w5 w6 w7 w8
23.87% 13.00% 24.83% 8.91% 2.71% 5.88% 10.71% 10.09% 100.00% 1
4.91% 10.66% 10.27% 19.76% 22.45% 9.05% 1.60% 21.31% 100.00% 2
0.82% 11.88% 9.80% 4.46% 1.50% 18.79% 28.51% 24.24% 100.00% 3
12.20% 21.72% 23.31% 7.85% 7.38% 3.29% 9.55% 14.71% 100.00% 4
11.86% 8.33% 17.27% 10.89% 9.14% 11.38% 23.05% 8.08% 100.00% 5
10.16% 12.33% 6.14% 14.08% 17.15% 7.55% 16.83% 15.77% 100.00% 6
3.18% 3.91% 14.68% 8.90% 12.81% 17.08% 18.96% 20.48% 100.00% 7
3.92% 26.96% 20.81% 7.65% 4.04% 16.76% 3.14% 16.71% 100.00% 8
4.41% 4.42% 9.83% 8.82% 22.39% 18.59% 8.34% 23.20% 100.00% 9
26.76% 13.76% 6.95% 35.67% 6.68% 0.33% 1.96% 7.88% 100.00% 10
30.30% 2.58% 32.99% 1.74% 5.98% 20.37% 1.64% 4.41% 100.00% 11
14.81% 23.40% 0.81% 22.23% 3.03% 1.37% 33.01% 1.34% 100.00% 12
7.68% 18.04% 1.62% 18.44% 21.57% 5.44% 11.81% 15.40% 100.00% 13
10.42% 20.54% 2.09% 11.58% 18.28% 12.19% 12.34% 12.56% 100.00% 14
10.96% 13.71% 17.41% 23.09% 14.21% 3.78% 0.87% 15.97% 100.00% 15
13.68% 27.58% 18.88% 11.49% 3.32% 5.47% 8.61% 10.97% 100.00% 16
5.54% 6.15% 16.37% 19.06% 14.84% 19.77% 16.85% 1.42% 100.00% 17
12.31% 10.03% 18.66% 16.85% 11.48% 12.12% 14.08% 4.47% 100.00% 18
9.23% 8.29% 18.29% 15.78% 10.54% 15.73% 16.12% 6.02% 100.00% 19
22.13% 7.05% 5.91% 12.88% 17.83% 5.52% 19.73% 8.94% 100.00% 20
6.47% 19.39% 8.66% 5.39% 13.81% 18.19% 10.25% 17.83% 100.00% 21
5.15% 9.25% 26.89% 3.68% 7.98% 18.27% 14.69% 14.09% 100.00% 22
3.66% 13.43% 22.65% 1.80% 6.36% 11.44% 20.81% 19.85% 100.00% 23
20.19% 19.60% 4.71% 17.35% 5.65% 4.83% 19.18% 8.50% 100.00% 24
14.95% 15.19% 7.57% 2.07% 2.54% 17.74% 18.99% 20.95% 100.00% 25
16.99% 18.35% 7.76% 3.72% 5.52% 10.07% 15.45% 22.14% 100.00% 26
0.69% 13.58% 15.47% 15.66% 24.49% 2.47% 13.25% 14.39% 100.00% 27
13.24% 3.36% 17.41% 12.02% 11.03% 15.12% 17.55% 10.27% 100.00% 28
24.17% 11.79% 9.26% 16.47% 3.64% 1.81% 22.58% 10.27% 100.00% 29
12.78% 4.53% 20.37% 4.17% 9.97% 5.75% 36.11% 6.31% 100.00% 30

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 45


Teoría Financiera y Costo de Capital

16.04% 2.57% 8.65% 13.43% 15.14% 23.50% 4.68% 15.98% 100.00% 31


8.31% 3.87% 12.72% 4.16% 15.17% 24.48% 24.96% 6.32% 100.00% 32
10.31% 13.44% 3.67% 6.60% 21.80% 18.39% 21.06% 4.72% 100.00% 33
7.09% 20.31% 11.00% 2.41% 9.38% 19.68% 19.23% 10.91% 100.00% 34
14.90% 5.19% 2.22% 1.91% 21.34% 26.57% 10.60% 17.27% 100.00% 35
5.93% 20.29% 8.36% 3.45% 14.12% 25.38% 5.67% 16.80% 100.00% 36
17.75% 19.38% 16.36% 16.76% 18.35% 7.25% 0.15% 4.00% 100.00% 37
15.60% 28.73% 0.53% 30.64% 1.91% 8.17% 11.69% 2.74% 100.00% 38
16.35% 17.02% 16.02% 6.99% 2.36% 17.60% 5.83% 17.83% 100.00% 39
17.22% 0.98% 22.79% 26.68% 11.08% 3.95% 15.62% 1.68% 100.00% 40
8.77% 9.22% 8.50% 4.49% 26.53% 1.90% 13.90% 26.69% 100.00% 41
22.04% 7.24% 5.07% 17.20% 9.88% 21.49% 2.49% 14.59% 100.00% 42
12.22% 10.51% 23.13% 15.36% 5.57% 18.72% 6.75% 7.75% 100.00% 43
23.10% 22.81% 13.19% 7.55% 4.26% 6.58% 17.10% 5.41% 100.00% 44
12.05% 23.13% 21.89% 10.05% 2.22% 22.31% 4.43% 3.92% 100.00% 45
19.98% 16.75% 3.02% 15.76% 13.12% 5.40% 19.40% 6.58% 100.00% 46
16.84% 4.62% 11.24% 14.41% 11.63% 13.71% 17.37% 10.18% 100.00% 47
19.08% 2.46% 12.73% 3.39% 8.12% 19.14% 13.20% 21.89% 100.00% 48
18.15% 14.62% 18.33% 10.09% 17.67% 4.61% 15.10% 1.42% 100.00% 49
1.97% 4.05% 15.40% 14.53% 19.65% 19.54% 9.12% 15.74% 100.00% 50
4.21% 8.47% 18.77% 13.82% 18.80% 15.03% 6.86% 14.05% 100.00% 51
1.90% 4.35% 21.54% 0.36% 18.14% 17.96% 21.12% 14.62% 100.00% 52
16.09% 14.86% 10.56% 4.87% 23.45% 26.68% 1.21% 2.29% 100.00% 53
10.30% 9.86% 22.43% 0.73% 0.24% 14.98% 28.60% 12.85% 100.00% 54
20.34% 1.57% 29.81% 20.74% 9.65% 4.11% 11.16% 2.61% 100.00% 55
11.91% 9.95% 18.69% 4.79% 15.81% 15.79% 15.51% 7.54% 100.00% 56
17.54% 8.10% 13.68% 12.02% 10.27% 16.82% 6.07% 15.50% 100.00% 57
13.55% 17.98% 13.95% 15.15% 9.86% 10.53% 9.74% 9.26% 100.00% 58
5.60% 8.66% 18.33% 11.30% 15.00% 9.16% 13.61% 18.35% 100.00% 59
7.67% 12.80% 18.20% 15.62% 15.93% 8.82% 7.45% 13.53% 100.00% 60
6.66% 5.72% 10.98% 22.94% 13.24% 19.08% 7.04% 14.34% 100.00% 61
15.78% 10.81% 9.79% 12.25% 12.90% 10.74% 11.92% 15.81% 100.00% 62
15.29% 3.84% 12.31% 17.63% 8.91% 14.82% 9.79% 17.42% 100.00% 63
1.64% 15.05% 11.82% 19.07% 0.56% 3.44% 22.44% 25.97% 100.00% 64
22.83% 17.53% 8.22% 0.68% 20.14% 3.39% 15.70% 11.51% 100.00% 65
5.30% 15.37% 11.12% 8.18% 12.44% 22.07% 10.91% 14.62% 100.00% 66
16.29% 19.65% 13.82% 8.79% 10.32% 4.38% 5.30% 21.47% 100.00% 67
2.55% 1.03% 29.78% 11.74% 16.60% 20.54% 4.14% 13.63% 100.00% 68
5.57% 9.09% 5.79% 20.51% 14.38% 10.28% 19.43% 14.95% 100.00% 69

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 46


Teoría Financiera y Costo de Capital

26.87% 28.03% 6.69% 1.98% 0.94% 5.21% 19.54% 10.74% 100.00% 70


9.95% 0.56% 0.60% 7.44% 15.09% 19.28% 22.23% 24.84% 100.00% 71
7.20% 2.44% 8.53% 7.10% 19.87% 0.97% 23.50% 30.40% 100.00% 72
0.75% 24.36% 23.60% 0.70% 12.74% 3.43% 28.23% 6.19% 100.00% 73
13.71% 6.11% 13.61% 5.79% 14.15% 19.64% 12.04% 14.94% 100.00% 74
16.78% 15.48% 12.01% 17.53% 9.46% 10.97% 17.19% 0.59% 100.00% 75
17.69% 0.86% 13.25% 17.08% 17.12% 15.83% 10.03% 8.14% 100.00% 76
6.90% 19.03% 9.72% 4.19% 18.20% 10.60% 17.60% 13.75% 100.00% 77
9.50% 22.18% 8.92% 6.95% 19.61% 13.38% 9.91% 9.54% 100.00% 78
1.35% 1.33% 18.50% 4.96% 14.21% 4.45% 20.18% 35.02% 100.00% 79
3.19% 10.79% 15.63% 4.54% 21.28% 6.87% 22.27% 15.44% 100.00% 80
2.88% 14.17% 21.99% 7.38% 12.73% 10.50% 10.56% 19.79% 100.00% 81
18.40% 8.91% 11.01% 16.26% 20.15% 2.30% 16.11% 6.87% 100.00% 82
2.86% 11.10% 4.39% 17.72% 6.90% 15.95% 18.83% 22.24% 100.00% 83
16.41% 2.76% 17.04% 9.85% 7.89% 18.93% 11.43% 15.71% 100.00% 84
13.52% 16.08% 15.48% 17.96% 12.06% 5.18% 13.27% 6.45% 100.00% 85
20.32% 9.14% 23.73% 8.82% 22.32% 9.98% 1.99% 3.71% 100.00% 86
15.91% 11.56% 20.10% 18.55% 2.85% 8.85% 13.65% 8.54% 100.00% 87
13.12% 8.61% 16.80% 14.51% 14.34% 13.04% 12.42% 7.17% 100.00% 88
17.71% 7.39% 11.88% 5.71% 16.68% 11.50% 11.01% 18.12% 100.00% 89
1.33% 18.19% 13.44% 12.31% 18.07% 25.38% 6.67% 4.61% 100.00% 90
26.82% 13.07% 18.09% 9.04% 6.64% 1.14% 20.03% 5.17% 100.00% 91
9.87% 18.36% 16.51% 17.98% 3.78% 9.80% 8.43% 15.26% 100.00% 92
4.35% 14.83% 23.34% 14.09% 6.02% 7.68% 27.74% 1.94% 100.00% 93
17.83% 5.43% 17.90% 12.27% 12.35% 17.13% 5.58% 11.50% 100.00% 94
11.84% 10.71% 18.37% 10.55% 7.15% 10.34% 18.42% 12.61% 100.00% 95
21.57% 0.57% 19.59% 16.80% 9.93% 17.64% 12.88% 1.03% 100.00% 96
3.99% 14.04% 12.22% 16.71% 17.34% 5.30% 10.06% 20.33% 100.00% 97
19.44% 12.74% 28.32% 15.20% 2.18% 4.84% 5.57% 11.72% 100.00% 98
21.28% 23.95% 1.35% 1.13% 27.71% 0.45% 21.77% 2.35% 100.00% 99
28.47% 5.92% 8.63% 2.47% 2.40% 14.44% 28.41% 9.27% 100.00% 100
15.61% 18.61% 11.23% 8.64% 9.94% 10.91% 9.70% 15.37% 100.00% 101
21.28% 3.32% 7.18% 20.13% 18.24% 14.04% 7.60% 8.21% 100.00% 102
6.90% 9.55% 10.84% 22.97% 13.80% 0.79% 20.14% 15.01% 100.00% 103
14.62% 7.24% 23.38% 2.68% 7.96% 15.25% 7.59% 21.28% 100.00% 104
1.84% 5.56% 11.80% 22.03% 19.57% 11.88% 6.50% 20.82% 100.00% 105
14.14% 6.32% 1.02% 7.80% 23.26% 14.58% 4.53% 28.35% 100.00% 106
14.25% 7.49% 12.51% 14.46% 9.00% 5.24% 16.81% 20.23% 100.00% 107
22.59% 16.68% 5.44% 6.14% 14.88% 10.21% 4.92% 19.13% 100.00% 108

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 47


Teoría Financiera y Costo de Capital

14.96% 26.31% 27.39% 1.59% 15.46% 4.64% 3.16% 6.50% 100.00% 109
10.56% 8.68% 23.14% 13.83% 18.15% 5.88% 6.22% 13.53% 100.00% 110
7.47% 18.69% 11.44% 26.99% 5.13% 6.47% 2.72% 21.10% 100.00% 111
12.60% 11.30% 22.32% 0.39% 19.30% 16.23% 7.43% 10.43% 100.00% 112
4.21% 5.25% 1.05% 6.68% 22.66% 2.54% 27.86% 29.75% 100.00% 113
4.30% 21.42% 14.53% 4.40% 11.49% 4.37% 4.23% 35.26% 100.00% 114
1.99% 6.35% 20.72% 9.42% 3.57% 21.56% 19.91% 16.47% 100.00% 115
7.60% 18.69% 24.52% 20.93% 7.19% 11.97% 3.08% 6.02% 100.00% 116
0.51% 6.13% 23.18% 4.95% 14.11% 5.25% 22.08% 23.80% 100.00% 117
5.26% 23.96% 7.33% 8.72% 14.09% 17.62% 2.09% 20.92% 100.00% 118
25.93% 9.04% 16.80% 27.46% 2.26% 1.48% 16.60% 0.43% 100.00% 119
19.44% 1.99% 8.28% 17.04% 15.04% 22.73% 5.16% 10.34% 100.00% 120
16.64% 19.47% 24.91% 1.06% 3.71% 27.52% 5.71% 0.97% 100.00% 121
14.21% 16.10% 8.67% 13.24% 15.94% 15.83% 0.15% 15.86% 100.00% 122
14.46% 0.72% 21.62% 2.87% 12.86% 9.06% 19.58% 18.84% 100.00% 123
13.71% 24.29% 19.03% 2.89% 8.61% 14.53% 2.63% 14.30% 100.00% 124
7.77% 23.96% 12.03% 4.47% 10.78% 21.70% 12.42% 6.85% 100.00% 125
10.72% 19.64% 5.55% 19.70% 19.61% 18.34% 1.26% 5.19% 100.00% 126
3.83% 13.71% 16.22% 18.11% 15.87% 19.06% 8.32% 4.88% 100.00% 127
0.54% 4.28% 26.72% 11.58% 21.67% 3.49% 21.00% 10.73% 100.00% 128
35.73% 10.98% 11.19% 13.98% 10.05% 6.41% 9.91% 1.75% 100.00% 129
4.99% 27.04% 28.24% 7.90% 2.43% 6.35% 0.85% 22.21% 100.00% 130
15.70% 13.25% 14.78% 17.20% 6.45% 2.18% 16.87% 13.56% 100.00% 131
4.15% 11.32% 21.22% 17.36% 0.73% 7.78% 20.88% 16.56% 100.00% 132
0.32% 14.54% 23.24% 5.95% 9.87% 25.14% 13.59% 7.35% 100.00% 133
6.05% 18.84% 8.83% 10.77% 12.71% 4.21% 16.16% 22.43% 100.00% 134
11.94% 4.08% 13.75% 17.99% 18.38% 19.91% 0.25% 13.70% 100.00% 135
17.07% 24.90% 3.40% 10.63% 14.57% 2.43% 4.32% 22.68% 100.00% 136
17.95% 17.73% 3.00% 16.93% 14.53% 1.81% 18.31% 9.75% 100.00% 137
18.75% 18.49% 14.58% 2.36% 12.87% 17.39% 0.97% 14.59% 100.00% 138
16.13% 11.47% 9.70% 15.62% 8.21% 14.16% 8.53% 16.19% 100.00% 139
1.57% 17.98% 8.94% 20.51% 13.01% 20.81% 3.97% 13.20% 100.00% 140
25.25% 5.70% 0.64% 24.00% 6.39% 1.31% 17.66% 19.05% 100.00% 141
20.42% 7.04% 13.67% 7.17% 0.29% 26.85% 2.72% 21.85% 100.00% 142
7.41% 11.72% 4.91% 8.42% 27.20% 12.82% 21.28% 6.23% 100.00% 143
20.13% 7.16% 10.97% 28.86% 1.77% 20.68% 5.37% 5.05% 100.00% 144
22.07% 6.19% 8.89% 24.59% 4.11% 4.86% 14.72% 14.57% 100.00% 145
8.49% 14.91% 7.90% 30.16% 2.17% 12.04% 8.42% 15.91% 100.00% 146
4.63% 13.63% 9.74% 3.72% 25.57% 15.04% 27.57% 0.11% 100.00% 147

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 48


Teoría Financiera y Costo de Capital

15.53% 1.18% 8.41% 11.16% 14.95% 11.88% 19.93% 16.95% 100.00% 148
16.40% 2.07% 14.31% 13.70% 6.21% 13.71% 17.90% 15.71% 100.00% 149
7.37% 18.56% 11.33% 0.88% 16.14% 16.47% 13.94% 15.32% 100.00% 150
1.62% 18.65% 9.27% 27.08% 9.84% 5.20% 7.39% 20.95% 100.00% 151
6.34% 10.49% 10.45% 18.87% 17.91% 13.85% 14.87% 7.22% 100.00% 152
12.60% 4.32% 5.38% 15.11% 7.80% 19.16% 9.51% 26.12% 100.00% 153
14.06% 0.28% 5.76% 8.51% 16.90% 21.46% 1.83% 31.20% 100.00% 154
22.97% 3.56% 5.50% 22.67% 1.48% 19.87% 12.36% 11.60% 100.00% 155
31.68% 25.27% 10.37% 14.35% 1.96% 1.87% 3.61% 10.88% 100.00% 156
8.64% 12.98% 21.38% 5.47% 15.01% 8.56% 14.73% 13.23% 100.00% 157
15.43% 17.64% 11.15% 2.83% 14.93% 13.65% 10.84% 13.53% 100.00% 158
5.66% 9.72% 18.84% 12.35% 16.05% 14.00% 16.21% 7.16% 100.00% 159
10.81% 20.03% 18.26% 17.35% 12.07% 7.51% 6.19% 7.78% 100.00% 160
18.37% 0.31% 23.68% 3.03% 11.14% 22.01% 1.92% 19.54% 100.00% 161
1.94% 18.11% 13.51% 9.86% 4.67% 16.94% 17.20% 17.76% 100.00% 162
3.01% 25.04% 2.02% 0.14% 24.79% 19.87% 2.38% 22.76% 100.00% 163
13.19% 14.32% 23.78% 12.39% 7.32% 10.81% 18.05% 0.13% 100.00% 164
32.67% 2.39% 20.28% 10.21% 15.56% 11.23% 4.54% 3.13% 100.00% 165
15.50% 13.07% 13.88% 14.04% 9.29% 12.39% 12.03% 9.80% 100.00% 166
7.35% 13.39% 15.49% 6.94% 8.42% 17.39% 17.22% 13.78% 100.00% 167
15.64% 1.27% 17.46% 16.10% 2.03% 28.96% 8.79% 9.75% 100.00% 168
14.36% 15.81% 2.43% 8.57% 19.01% 20.00% 0.73% 19.08% 100.00% 169
9.87% 16.11% 22.59% 2.03% 3.45% 16.69% 20.65% 8.61% 100.00% 170
8.85% 18.07% 8.93% 5.19% 13.27% 16.72% 14.25% 14.72% 100.00% 171
9.00% 19.63% 15.08% 9.43% 19.92% 5.21% 17.22% 4.51% 100.00% 172
12.65% 14.63% 9.48% 16.14% 17.01% 16.01% 9.47% 4.61% 100.00% 173
16.42% 19.90% 7.68% 13.43% 20.55% 2.40% 8.31% 11.31% 100.00% 174
12.32% 17.02% 17.65% 19.33% 4.82% 2.54% 8.26% 18.05% 100.00% 175
10.79% 15.50% 7.27% 12.58% 13.22% 14.56% 10.19% 15.90% 100.00% 176
0.61% 44.31% 3.75% 4.77% 4.42% 17.79% 2.16% 22.19% 100.00% 177
3.29% 19.79% 7.88% 20.76% 18.37% 15.77% 0.19% 13.94% 100.00% 178
23.36% 2.41% 9.27% 11.47% 25.52% 21.43% 6.12% 0.42% 100.00% 179
2.60% 18.86% 1.75% 20.60% 12.31% 13.56% 20.23% 10.09% 100.00% 180
15.48% 5.93% 11.13% 25.08% 9.87% 18.48% 9.24% 4.80% 100.00% 181
16.14% 2.58% 3.96% 8.87% 20.86% 15.81% 12.45% 19.34% 100.00% 182
17.03% 14.46% 12.20% 4.60% 14.76% 18.09% 5.38% 13.49% 100.00% 183
9.39% 16.59% 20.26% 17.91% 10.20% 10.96% 8.14% 6.55% 100.00% 184
15.79% 21.68% 12.54% 15.75% 17.23% 4.51% 5.10% 7.40% 100.00% 185
5.11% 26.38% 7.95% 21.81% 17.52% 5.41% 3.72% 12.10% 100.00% 186

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 49


Teoría Financiera y Costo de Capital

10.46% 13.72% 13.27% 13.80% 18.90% 17.00% 4.47% 8.37% 100.00% 187
4.74% 17.07% 19.62% 13.00% 9.33% 5.78% 10.38% 20.08% 100.00% 188
6.18% 7.88% 15.21% 16.84% 11.16% 16.75% 23.67% 2.31% 100.00% 189
13.50% 15.63% 13.08% 14.86% 12.91% 13.96% 14.36% 1.71% 100.00% 190
26.20% 4.39% 19.91% 13.59% 2.65% 11.87% 9.94% 11.47% 100.00% 191
4.16% 0.09% 4.95% 8.10% 28.78% 15.96% 31.20% 6.76% 100.00% 192
19.22% 5.48% 16.30% 14.91% 6.85% 0.47% 12.52% 24.25% 100.00% 193
18.52% 5.58% 17.38% 5.82% 22.64% 1.85% 17.55% 10.66% 100.00% 194
16.86% 22.41% 9.40% 9.91% 30.03% 0.15% 0.89% 10.34% 100.00% 195
9.07% 9.26% 15.59% 9.56% 17.80% 18.39% 13.60% 6.74% 100.00% 196
6.81% 19.04% 17.83% 13.24% 5.68% 3.76% 21.48% 12.16% 100.00% 197
16.80% 14.99% 17.53% 1.94% 18.98% 8.60% 3.52% 17.64% 100.00% 198
3.78% 2.90% 18.82% 11.30% 13.72% 15.04% 21.36% 13.08% 100.00% 199
0.14% 12.02% 2.97% 20.31% 16.69% 23.69% 18.32% 5.86% 100.00% 200
24.23% 26.71% 9.75% 22.20% 2.00% 1.62% 5.45% 8.04% 100.00% 201
13.69% 25.19% 8.17% 1.14% 13.05% 8.16% 20.36% 10.23% 100.00% 202
1.24% 20.44% 22.12% 10.33% 13.62% 6.45% 4.96% 20.82% 100.00% 203
4.70% 18.99% 14.30% 20.63% 3.24% 18.45% 9.29% 10.40% 100.00% 204
17.11% 10.93% 19.91% 24.02% 9.59% 9.49% 3.45% 5.50% 100.00% 205
2.26% 6.28% 6.37% 15.30% 25.06% 4.43% 20.20% 20.12% 100.00% 206
10.29% 1.81% 15.29% 14.56% 20.37% 10.26% 13.67% 13.76% 100.00% 207
5.85% 13.50% 3.78% 12.63% 18.42% 14.13% 16.36% 15.34% 100.00% 208
13.88% 12.47% 25.32% 14.99% 20.59% 4.48% 6.77% 1.49% 100.00% 209
14.55% 11.94% 11.86% 14.66% 4.00% 13.56% 12.24% 17.20% 100.00% 210
9.67% 22.69% 11.90% 22.68% 7.66% 7.67% 5.08% 12.66% 100.00% 211
21.24% 6.35% 26.24% 27.97% 4.14% 7.71% 0.51% 5.84% 100.00% 212
2.78% 19.91% 6.61% 17.13% 10.61% 12.38% 20.64% 9.95% 100.00% 213
17.83% 13.69% 9.83% 22.41% 13.45% 2.06% 5.68% 15.04% 100.00% 214
20.81% 9.21% 20.63% 6.07% 13.46% 14.09% 4.29% 11.45% 100.00% 215
41.61% 22.07% 7.38% 2.78% 16.15% 3.35% 5.06% 1.59% 100.00% 216
28.40% 7.75% 0.63% 3.76% 25.39% 6.22% 4.45% 23.39% 100.00% 217
14.30% 11.73% 9.72% 9.79% 17.67% 12.31% 3.60% 20.88% 100.00% 218
20.88% 3.04% 9.08% 11.69% 13.67% 1.32% 20.58% 19.74% 100.00% 219
21.90% 22.62% 12.63% 17.30% 9.09% 0.50% 2.13% 13.82% 100.00% 220
6.73% 3.57% 17.26% 21.44% 16.53% 19.43% 10.43% 4.62% 100.00% 221
17.40% 15.34% 11.12% 10.90% 1.45% 15.90% 15.38% 12.50% 100.00% 222
13.10% 9.58% 10.53% 10.59% 14.27% 16.19% 9.53% 16.22% 100.00% 223
18.16% 16.94% 7.22% 13.50% 14.85% 7.96% 3.24% 18.13% 100.00% 224
15.20% 15.55% 6.75% 6.25% 19.49% 12.82% 12.84% 11.09% 100.00% 225

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 50


Teoría Financiera y Costo de Capital

1.22% 22.81% 0.72% 6.07% 3.77% 24.95% 16.47% 23.98% 100.00% 226
18.79% 6.83% 18.06% 2.27% 17.44% 11.05% 8.77% 16.77% 100.00% 227
17.50% 2.69% 8.29% 15.83% 17.88% 5.96% 15.29% 16.56% 100.00% 228
0.35% 5.90% 8.37% 11.96% 13.95% 24.74% 16.34% 18.38% 100.00% 229
8.88% 14.61% 20.52% 14.62% 8.77% 19.33% 8.75% 4.52% 100.00% 230
12.76% 9.54% 17.77% 18.77% 14.43% 10.69% 9.37% 6.67% 100.00% 231
15.42% 8.15% 13.63% 15.55% 1.03% 6.06% 30.85% 9.32% 100.00% 232
0.20% 11.60% 1.32% 18.26% 23.45% 18.56% 19.69% 6.92% 100.00% 233
4.86% 16.42% 8.13% 4.91% 3.62% 26.53% 21.78% 13.76% 100.00% 234
0.81% 9.38% 31.37% 19.01% 5.93% 8.67% 13.09% 11.74% 100.00% 235
2.44% 12.84% 25.75% 20.04% 9.16% 14.94% 3.89% 10.94% 100.00% 236
22.57% 4.27% 0.56% 15.23% 1.24% 23.33% 19.72% 13.08% 100.00% 237
9.87% 16.34% 6.60% 16.43% 5.96% 15.16% 9.12% 20.52% 100.00% 238
20.79% 21.23% 11.22% 6.27% 16.52% 22.83% 0.02% 1.13% 100.00% 239
16.19% 10.59% 12.81% 7.23% 12.19% 16.11% 13.76% 11.12% 100.00% 240
5.03% 3.84% 11.79% 12.10% 30.25% 22.78% 10.02% 4.19% 100.00% 241
7.67% 18.18% 18.57% 9.71% 10.06% 11.63% 3.09% 21.09% 100.00% 242
21.22% 13.13% 1.06% 10.05% 18.29% 10.36% 23.50% 2.39% 100.00% 243
11.40% 15.32% 25.43% 7.81% 15.73% 0.29% 5.53% 18.50% 100.00% 244
14.21% 10.77% 18.38% 1.92% 13.82% 7.74% 19.82% 13.33% 100.00% 245
9.11% 3.21% 8.62% 14.68% 3.32% 11.42% 25.20% 24.45% 100.00% 246
5.49% 13.35% 0.56% 6.04% 19.86% 8.03% 14.80% 31.88% 100.00% 247
13.26% 3.25% 21.47% 14.06% 1.10% 20.22% 7.10% 19.54% 100.00% 248
18.98% 11.58% 15.21% 16.54% 8.44% 17.68% 9.16% 2.40% 100.00% 249
19.29% 2.06% 12.30% 0.77% 11.81% 20.05% 14.50% 19.22% 100.00% 250
2.19% 20.55% 21.62% 19.92% 3.93% 6.78% 6.25% 18.74% 100.00% 251
7.13% 5.60% 17.58% 21.41% 13.87% 4.54% 19.83% 10.04% 100.00% 252
2.98% 23.86% 17.53% 16.64% 9.83% 0.76% 23.45% 4.96% 100.00% 253
1.99% 3.11% 27.90% 14.93% 4.08% 17.66% 17.17% 13.17% 100.00% 254
3.21% 14.38% 15.20% 16.02% 16.61% 0.94% 15.77% 17.87% 100.00% 255
4.78% 18.69% 16.03% 16.96% 8.16% 16.85% 18.10% 0.44% 100.00% 256
4.94% 15.15% 8.85% 16.53% 9.64% 11.10% 19.53% 14.26% 100.00% 257
15.99% 27.07% 3.77% 27.63% 1.63% 9.86% 8.78% 5.26% 100.00% 258
3.52% 6.49% 9.53% 19.90% 17.87% 16.73% 22.06% 3.92% 100.00% 259
25.32% 2.88% 17.12% 14.63% 2.27% 5.34% 7.25% 25.18% 100.00% 260
1.09% 11.32% 23.43% 11.74% 14.63% 1.09% 10.39% 26.30% 100.00% 261
24.91% 11.33% 23.25% 10.73% 8.53% 9.92% 10.65% 0.68% 100.00% 262
11.18% 5.77% 2.43% 2.67% 22.93% 30.03% 17.61% 7.38% 100.00% 263
12.56% 9.18% 14.59% 11.51% 25.07% 10.85% 14.07% 2.17% 100.00% 264

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 51


Teoría Financiera y Costo de Capital

5.28% 16.08% 14.49% 9.53% 18.46% 13.64% 11.14% 11.39% 100.00% 265
7.29% 1.51% 9.62% 14.40% 19.50% 6.99% 20.00% 20.68% 100.00% 266
3.48% 6.49% 13.38% 10.86% 19.62% 16.24% 13.06% 16.87% 100.00% 267
14.23% 17.82% 9.43% 17.14% 17.42% 6.22% 3.43% 14.31% 100.00% 268
15.27% 19.09% 5.59% 16.82% 14.41% 8.08% 6.41% 14.33% 100.00% 269
17.49% 5.73% 12.80% 24.90% 8.15% 13.67% 16.75% 0.50% 100.00% 270
2.79% 23.02% 5.71% 14.35% 7.75% 25.37% 17.19% 3.83% 100.00% 271
12.23% 6.30% 28.14% 4.07% 1.62% 8.51% 26.78% 12.35% 100.00% 272
28.49% 19.19% 2.70% 13.43% 8.50% 11.68% 4.29% 11.72% 100.00% 273
24.33% 28.87% 21.60% 2.48% 2.64% 0.38% 13.40% 6.30% 100.00% 274
15.66% 22.56% 15.21% 17.04% 1.30% 11.76% 4.53% 11.94% 100.00% 275
10.43% 20.47% 17.43% 18.36% 3.20% 13.78% 15.09% 1.23% 100.00% 276
2.95% 27.11% 1.91% 27.68% 13.55% 12.91% 10.21% 3.68% 100.00% 277
20.07% 14.52% 2.45% 16.91% 7.15% 8.83% 2.46% 27.60% 100.00% 278
1.26% 25.24% 0.80% 16.39% 4.97% 13.48% 26.53% 11.34% 100.00% 279
17.94% 17.15% 11.39% 12.99% 12.42% 4.03% 14.25% 9.81% 100.00% 280
7.44% 18.20% 22.28% 8.43% 3.18% 12.24% 7.72% 20.52% 100.00% 281
16.22% 9.28% 11.93% 6.65% 7.02% 23.95% 4.75% 20.20% 100.00% 282
8.05% 17.68% 17.38% 1.57% 11.38% 15.29% 7.92% 20.73% 100.00% 283
10.40% 23.15% 10.84% 0.74% 7.49% 16.46% 10.47% 20.44% 100.00% 284
8.85% 8.77% 9.61% 5.97% 22.41% 13.24% 12.90% 18.24% 100.00% 285
18.57% 5.34% 11.39% 16.40% 3.29% 15.35% 17.16% 12.49% 100.00% 286
11.66% 5.87% 1.28% 1.13% 4.85% 2.66% 30.07% 42.48% 100.00% 287
5.61% 21.68% 5.26% 18.02% 5.46% 18.08% 5.36% 20.54% 100.00% 288
16.94% 10.66% 7.16% 1.61% 0.42% 24.34% 18.72% 20.15% 100.00% 289
13.87% 6.22% 21.58% 13.61% 8.52% 3.84% 23.69% 8.67% 100.00% 290
13.51% 4.33% 6.79% 4.61% 16.53% 26.37% 13.61% 14.25% 100.00% 291
8.48% 24.77% 7.72% 15.21% 7.01% 8.39% 23.43% 5.01% 100.00% 292
3.58% 21.22% 0.59% 23.93% 8.68% 13.61% 7.80% 20.59% 100.00% 293
13.14% 14.86% 4.91% 14.46% 15.13% 5.88% 14.23% 17.40% 100.00% 294
1.47% 1.54% 10.97% 26.46% 5.41% 25.14% 25.38% 3.63% 100.00% 295
20.60% 16.56% 14.12% 13.12% 11.89% 11.01% 7.97% 4.72% 100.00% 296
22.78% 2.51% 1.25% 7.62% 20.92% 28.76% 9.70% 6.46% 100.00% 297
18.16% 11.18% 3.70% 7.57% 12.55% 15.83% 17.48% 13.54% 100.00% 298
17.67% 28.72% 2.78% 6.40% 2.26% 6.16% 15.04% 20.97% 100.00% 299
13.55% 9.07% 6.01% 18.28% 17.29% 14.64% 8.52% 12.63% 100.00% 300
8.23% 12.47% 3.98% 5.63% 18.90% 19.10% 13.76% 17.93% 100.00% 301
16.87% 14.37% 10.95% 10.55% 9.80% 11.45% 12.22% 13.78% 100.00% 302
17.14% 4.00% 1.66% 19.49% 21.90% 6.70% 13.12% 16.00% 100.00% 303

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 52


Teoría Financiera y Costo de Capital

20.33% 7.54% 25.13% 23.89% 13.49% 1.87% 4.15% 3.61% 100.00% 304
14.55% 12.17% 15.94% 7.69% 16.10% 15.41% 3.35% 14.79% 100.00% 305
23.77% 9.41% 5.43% 8.69% 13.48% 26.88% 8.59% 3.74% 100.00% 306
9.38% 9.12% 9.80% 6.28% 20.30% 15.35% 11.06% 18.70% 100.00% 307
22.19% 3.94% 13.87% 8.87% 21.57% 19.30% 2.37% 7.89% 100.00% 308
17.60% 11.77% 2.61% 6.96% 14.74% 0.13% 26.22% 19.98% 100.00% 309
11.93% 7.99% 12.13% 22.47% 17.01% 4.79% 18.86% 4.81% 100.00% 310
5.49% 17.54% 13.54% 4.81% 19.64% 14.63% 12.30% 12.05% 100.00% 311
9.48% 0.47% 7.53% 8.06% 12.32% 16.78% 20.48% 24.88% 100.00% 312
7.50% 19.27% 5.52% 19.21% 13.62% 4.77% 12.01% 18.10% 100.00% 313
16.22% 9.55% 16.53% 15.88% 5.98% 15.09% 10.97% 9.78% 100.00% 314
13.04% 11.57% 0.92% 10.39% 11.72% 16.22% 19.35% 16.79% 100.00% 315
7.03% 13.36% 14.56% 16.73% 5.14% 18.38% 21.17% 3.64% 100.00% 316
17.63% 6.00% 14.73% 25.46% 17.05% 4.10% 5.20% 9.82% 100.00% 317
6.82% 15.47% 15.09% 22.77% 14.51% 1.32% 5.46% 18.56% 100.00% 318
5.95% 30.54% 22.07% 2.60% 14.74% 3.10% 3.50% 17.50% 100.00% 319
3.17% 6.17% 26.20% 25.15% 2.17% 17.64% 16.06% 3.44% 100.00% 320
18.46% 26.41% 5.24% 2.85% 6.16% 0.59% 27.51% 12.78% 100.00% 321
2.63% 15.41% 6.44% 14.27% 16.54% 17.35% 20.08% 7.27% 100.00% 322
9.62% 13.52% 14.36% 13.73% 11.22% 15.26% 18.91% 3.38% 100.00% 323
3.31% 25.81% 20.95% 22.65% 8.27% 10.01% 2.36% 6.63% 100.00% 324
3.41% 18.48% 10.26% 21.78% 23.84% 0.26% 0.61% 21.35% 100.00% 325
16.53% 1.54% 14.41% 13.82% 28.82% 11.18% 13.66% 0.03% 100.00% 326
7.57% 2.65% 24.63% 24.57% 3.69% 10.45% 5.77% 20.67% 100.00% 327
1.98% 15.65% 15.81% 8.62% 13.10% 11.19% 15.05% 18.60% 100.00% 328
14.54% 5.06% 20.31% 1.04% 15.04% 30.74% 12.07% 1.20% 100.00% 329
29.89% 9.93% 5.09% 29.97% 5.44% 6.87% 0.25% 12.54% 100.00% 330
2.93% 5.40% 14.14% 10.84% 21.53% 10.64% 13.72% 20.79% 100.00% 331
18.97% 0.28% 7.90% 18.61% 13.91% 17.17% 17.79% 5.37% 100.00% 332
17.94% 15.90% 10.68% 10.34% 6.46% 5.37% 23.33% 9.98% 100.00% 333
24.43% 15.82% 4.69% 15.25% 10.91% 3.20% 19.53% 6.17% 100.00% 334
11.21% 8.93% 13.17% 20.36% 18.45% 13.26% 13.92% 0.70% 100.00% 335
12.08% 17.24% 7.29% 11.24% 16.68% 15.84% 8.05% 11.57% 100.00% 336
10.79% 13.56% 15.30% 16.15% 12.51% 16.00% 6.21% 9.48% 100.00% 337
4.95% 2.18% 22.28% 18.67% 3.76% 21.09% 16.78% 10.30% 100.00% 338
8.23% 9.22% 13.05% 16.95% 15.29% 9.61% 13.36% 14.28% 100.00% 339
6.94% 17.40% 8.66% 0.05% 5.62% 15.04% 23.30% 22.98% 100.00% 340
6.03% 18.92% 7.70% 9.92% 17.00% 18.32% 7.89% 14.21% 100.00% 341
15.76% 13.75% 7.46% 23.62% 3.36% 13.62% 19.79% 2.63% 100.00% 342

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 53


Teoría Financiera y Costo de Capital

21.45% 5.51% 4.44% 6.25% 24.81% 4.05% 0.96% 32.52% 100.00% 343
4.60% 15.80% 15.07% 15.60% 11.24% 11.14% 12.65% 13.90% 100.00% 344
18.49% 20.89% 2.85% 9.22% 6.28% 20.25% 9.79% 12.22% 100.00% 345
14.72% 0.96% 6.83% 15.85% 21.51% 17.91% 17.35% 4.87% 100.00% 346
7.43% 7.13% 14.40% 20.61% 14.06% 24.75% 7.14% 4.47% 100.00% 347
10.39% 21.42% 2.73% 16.48% 6.02% 18.69% 8.60% 15.67% 100.00% 348
4.20% 2.58% 23.14% 0.60% 8.01% 3.31% 24.49% 33.67% 100.00% 349
0.27% 13.65% 13.68% 10.84% 13.52% 8.05% 19.33% 20.67% 100.00% 350
8.05% 24.79% 11.23% 8.35% 2.07% 17.67% 13.98% 13.86% 100.00% 351
21.25% 0.85% 20.50% 8.99% 2.36% 22.24% 23.07% 0.74% 100.00% 352
17.76% 17.54% 13.84% 8.01% 23.24% 2.66% 12.03% 4.92% 100.00% 353
1.04% 12.29% 8.71% 25.25% 12.70% 28.05% 11.38% 0.57% 100.00% 354
8.15% 18.88% 9.55% 14.62% 18.64% 6.07% 16.30% 7.79% 100.00% 355
0.61% 9.76% 11.68% 16.95% 25.92% 3.94% 23.31% 7.83% 100.00% 356
16.86% 14.10% 21.46% 9.09% 7.53% 15.04% 12.67% 3.26% 100.00% 357
28.01% 23.83% 6.41% 20.90% 4.01% 4.95% 0.98% 10.91% 100.00% 358
4.43% 4.11% 12.07% 20.50% 20.92% 11.86% 16.93% 9.17% 100.00% 359
23.03% 19.23% 5.79% 0.21% 9.19% 28.38% 0.86% 13.31% 100.00% 360
20.51% 2.21% 17.31% 17.22% 21.65% 13.14% 3.59% 4.37% 100.00% 361
10.62% 6.56% 23.89% 3.37% 18.70% 19.86% 9.40% 7.61% 100.00% 362
11.37% 19.47% 15.54% 5.38% 13.83% 15.84% 13.24% 5.33% 100.00% 363
8.96% 8.16% 10.71% 8.97% 27.39% 12.92% 21.50% 1.39% 100.00% 364
19.77% 18.27% 16.35% 7.90% 6.03% 11.16% 13.83% 6.70% 100.00% 365
27.58% 17.14% 15.77% 3.48% 10.64% 8.49% 0.07% 16.83% 100.00% 366
23.28% 8.70% 11.47% 20.50% 1.30% 10.16% 18.01% 6.56% 100.00% 367
5.27% 1.38% 16.29% 22.31% 5.95% 10.42% 10.32% 28.06% 100.00% 368
21.09% 4.02% 24.47% 8.52% 19.82% 0.15% 4.66% 17.26% 100.00% 369
7.38% 4.17% 22.51% 10.97% 3.52% 30.03% 10.83% 10.59% 100.00% 370
5.88% 8.62% 7.72% 13.88% 12.79% 18.08% 14.73% 18.30% 100.00% 371
17.26% 18.36% 2.73% 0.67% 22.02% 11.74% 11.25% 15.97% 100.00% 372
16.44% 19.24% 8.20% 20.05% 3.54% 7.05% 23.84% 1.63% 100.00% 373
10.86% 20.47% 20.17% 8.01% 8.93% 6.46% 19.27% 5.83% 100.00% 374
18.94% 24.38% 1.50% 19.00% 3.46% 15.25% 2.99% 14.47% 100.00% 375
11.43% 5.42% 12.53% 10.83% 18.66% 8.34% 24.18% 8.61% 100.00% 376
9.39% 2.49% 8.38% 15.58% 12.02% 11.11% 20.00% 21.02% 100.00% 377
6.43% 14.47% 7.11% 1.62% 22.76% 21.91% 7.17% 18.52% 100.00% 378
9.02% 8.62% 24.80% 18.28% 6.34% 20.29% 8.16% 4.49% 100.00% 379
12.54% 14.32% 6.29% 18.05% 11.46% 18.67% 6.56% 12.11% 100.00% 380
3.97% 20.12% 1.01% 18.16% 2.14% 20.27% 19.45% 14.88% 100.00% 381

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 54


Teoría Financiera y Costo de Capital

8.26% 5.39% 14.50% 10.09% 12.09% 15.74% 14.86% 19.07% 100.00% 382
0.43% 12.95% 17.96% 10.28% 5.36% 5.88% 27.25% 19.88% 100.00% 383
3.70% 27.93% 18.19% 2.29% 27.31% 3.30% 7.78% 9.48% 100.00% 384
15.67% 5.12% 16.80% 8.55% 16.33% 14.74% 8.44% 14.36% 100.00% 385
16.62% 10.85% 7.18% 11.00% 9.48% 18.31% 20.83% 5.73% 100.00% 386
18.06% 20.63% 13.33% 5.21% 12.23% 7.75% 12.86% 9.93% 100.00% 387
7.78% 17.88% 15.37% 20.97% 14.84% 6.75% 7.30% 9.13% 100.00% 388
22.30% 7.41% 5.86% 14.12% 6.85% 28.38% 1.35% 13.74% 100.00% 389
1.36% 9.26% 20.52% 17.18% 22.55% 18.28% 0.50% 10.35% 100.00% 390
7.16% 17.06% 11.41% 13.65% 19.00% 14.45% 4.26% 13.00% 100.00% 391
10.46% 3.64% 21.95% 25.15% 8.95% 10.37% 5.96% 13.53% 100.00% 392
18.55% 13.41% 1.66% 22.49% 4.28% 0.35% 17.97% 21.29% 100.00% 393
7.55% 16.11% 16.19% 6.90% 15.93% 12.41% 10.50% 14.42% 100.00% 394
14.82% 0.13% 15.80% 28.22% 10.47% 11.03% 15.67% 3.86% 100.00% 395
13.32% 5.64% 21.72% 27.12% 2.39% 9.77% 13.55% 6.49% 100.00% 396
22.98% 26.12% 1.97% 12.76% 7.82% 3.09% 21.26% 4.00% 100.00% 397
2.90% 18.38% 26.14% 8.83% 12.79% 13.64% 2.79% 14.53% 100.00% 398
2.53% 17.24% 15.28% 3.41% 16.27% 12.91% 20.36% 11.99% 100.00% 399
9.90% 18.78% 10.58% 24.84% 18.52% 5.21% 6.05% 6.12% 100.00% 400
14.53% 16.36% 5.78% 15.52% 7.46% 4.11% 18.83% 17.41% 100.00% 401
21.68% 10.76% 3.10% 11.33% 12.07% 4.68% 19.32% 17.05% 100.00% 402
3.44% 0.88% 1.87% 14.51% 11.80% 20.56% 23.22% 23.71% 100.00% 403
2.04% 22.02% 1.06% 2.36% 24.59% 8.94% 19.02% 19.97% 100.00% 404
22.82% 19.12% 21.87% 12.57% 8.98% 0.18% 14.01% 0.45% 100.00% 405
0.57% 16.37% 20.32% 4.29% 13.53% 16.81% 16.86% 11.24% 100.00% 406
7.22% 25.34% 11.06% 4.02% 20.16% 9.74% 4.64% 17.81% 100.00% 407
6.45% 11.32% 16.01% 11.13% 15.79% 10.18% 12.87% 16.26% 100.00% 408
9.49% 20.52% 22.26% 3.24% 14.51% 3.66% 24.24% 2.09% 100.00% 409
8.34% 18.78% 13.91% 9.88% 13.28% 17.20% 5.04% 13.57% 100.00% 410
9.41% 7.05% 11.32% 19.41% 17.82% 16.13% 11.34% 7.52% 100.00% 411
9.26% 6.49% 21.90% 5.48% 19.74% 13.09% 10.16% 13.88% 100.00% 412
5.20% 23.40% 23.57% 1.11% 9.71% 6.01% 10.29% 20.71% 100.00% 413
4.48% 12.66% 22.31% 16.78% 5.27% 20.72% 15.69% 2.08% 100.00% 414
1.16% 19.17% 7.14% 19.22% 0.81% 3.69% 13.35% 35.47% 100.00% 415
16.85% 18.96% 14.67% 4.01% 18.34% 16.97% 6.12% 4.08% 100.00% 416
9.57% 15.97% 9.15% 6.89% 5.99% 19.84% 20.73% 11.85% 100.00% 417
19.13% 22.64% 12.31% 6.04% 3.52% 0.65% 18.32% 17.39% 100.00% 418
6.27% 15.01% 16.36% 14.38% 14.81% 8.22% 23.42% 1.53% 100.00% 419
9.97% 15.46% 16.66% 10.97% 4.60% 16.63% 18.73% 6.98% 100.00% 420

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 55


Teoría Financiera y Costo de Capital

23.80% 16.74% 1.33% 9.30% 0.56% 14.23% 14.58% 19.46% 100.00% 421
13.87% 11.16% 16.09% 12.29% 3.67% 17.04% 14.45% 11.43% 100.00% 422
3.90% 10.53% 25.12% 20.25% 0.71% 21.10% 14.22% 4.16% 100.00% 423
15.49% 17.90% 9.53% 14.99% 14.61% 6.23% 13.72% 7.53% 100.00% 424
8.43% 4.31% 10.14% 13.50% 19.54% 21.26% 10.24% 12.57% 100.00% 425
3.65% 17.00% 14.82% 2.65% 19.16% 13.16% 18.87% 10.68% 100.00% 426
4.78% 14.66% 18.24% 16.27% 8.88% 13.98% 19.84% 3.35% 100.00% 427
18.73% 0.92% 19.07% 7.03% 14.98% 13.94% 18.24% 7.08% 100.00% 428
18.87% 8.52% 30.36% 12.86% 3.66% 10.59% 10.08% 5.07% 100.00% 429
10.22% 10.85% 8.43% 28.30% 6.66% 23.39% 0.99% 11.16% 100.00% 430
18.97% 9.90% 3.44% 14.46% 11.64% 16.44% 6.62% 18.53% 100.00% 431
14.02% 13.03% 11.65% 24.77% 5.75% 16.42% 3.12% 11.24% 100.00% 432
18.70% 18.08% 10.77% 2.16% 18.76% 15.39% 5.83% 10.31% 100.00% 433
4.23% 27.41% 1.81% 14.72% 8.00% 7.78% 16.35% 19.69% 100.00% 434
15.37% 18.82% 19.91% 13.92% 0.08% 15.90% 14.28% 1.74% 100.00% 435
23.79% 1.01% 8.02% 9.82% 1.64% 18.67% 16.99% 20.06% 100.00% 436
1.25% 3.62% 27.61% 13.44% 5.00% 23.70% 4.63% 20.75% 100.00% 437
13.54% 11.18% 12.20% 7.06% 28.12% 5.52% 14.96% 7.42% 100.00% 438
8.57% 9.66% 13.84% 18.60% 11.68% 10.62% 12.36% 14.67% 100.00% 439
17.07% 4.30% 21.22% 20.02% 3.79% 15.59% 7.95% 10.05% 100.00% 440
7.95% 14.26% 13.10% 10.16% 10.02% 18.84% 12.95% 12.72% 100.00% 441
10.48% 6.59% 23.74% 14.39% 13.75% 5.60% 16.14% 9.31% 100.00% 442
17.68% 10.93% 10.97% 17.29% 10.41% 7.52% 17.19% 8.00% 100.00% 443
15.80% 0.23% 16.79% 7.84% 16.57% 14.81% 15.69% 12.26% 100.00% 444
11.26% 18.36% 27.49% 4.12% 16.64% 10.79% 8.45% 2.90% 100.00% 445
2.49% 2.23% 15.39% 18.97% 15.39% 13.25% 20.25% 12.04% 100.00% 446
9.58% 2.32% 25.44% 2.14% 2.18% 17.95% 29.52% 10.87% 100.00% 447
5.48% 10.46% 8.97% 11.07% 2.09% 22.53% 15.32% 24.07% 100.00% 448
17.48% 6.35% 7.92% 12.84% 21.35% 18.13% 7.41% 8.52% 100.00% 449
21.15% 5.38% 16.80% 19.05% 7.04% 4.99% 7.61% 18.00% 100.00% 450
9.30% 15.92% 14.70% 18.34% 4.49% 13.68% 5.39% 18.18% 100.00% 451
15.06% 3.41% 18.07% 8.12% 11.60% 11.26% 28.13% 4.34% 100.00% 452
0.57% 6.67% 25.60% 3.69% 10.68% 12.90% 21.46% 18.42% 100.00% 453
18.08% 9.98% 2.55% 23.46% 9.95% 10.64% 4.13% 21.21% 100.00% 454
2.82% 18.49% 2.70% 10.99% 21.69% 3.89% 21.62% 17.80% 100.00% 455
21.72% 17.75% 0.77% 8.41% 6.92% 12.58% 22.83% 9.02% 100.00% 456
2.12% 24.86% 3.21% 20.31% 34.13% 11.81% 0.22% 3.35% 100.00% 457
13.55% 14.28% 14.11% 12.19% 1.13% 11.05% 11.18% 22.51% 100.00% 458
7.06% 11.11% 13.83% 9.92% 25.71% 3.67% 1.35% 27.35% 100.00% 459

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 56


Teoría Financiera y Costo de Capital

4.39% 3.23% 19.74% 12.64% 11.34% 19.96% 17.26% 11.45% 100.00% 460
16.16% 21.45% 11.79% 6.82% 6.10% 5.70% 7.79% 24.19% 100.00% 461
21.70% 18.54% 20.21% 15.96% 2.29% 3.11% 17.78% 0.43% 100.00% 462
21.73% 14.95% 21.09% 0.58% 10.93% 7.62% 18.34% 4.75% 100.00% 463
15.44% 16.26% 5.56% 15.44% 8.42% 10.36% 20.53% 7.99% 100.00% 464
16.52% 9.35% 3.43% 20.58% 12.62% 9.85% 23.76% 3.88% 100.00% 465
0.02% 19.96% 20.52% 4.18% 23.57% 2.65% 23.75% 5.35% 100.00% 466
22.61% 9.75% 18.23% 8.04% 10.02% 2.78% 22.83% 5.74% 100.00% 467
10.09% 1.03% 5.16% 12.88% 41.40% 9.32% 11.38% 8.74% 100.00% 468
15.30% 10.78% 1.95% 7.64% 4.49% 11.36% 18.03% 30.46% 100.00% 469
15.05% 13.24% 5.60% 11.40% 17.02% 7.85% 14.17% 15.68% 100.00% 470
23.24% 19.90% 8.04% 2.18% 0.35% 22.31% 4.34% 19.65% 100.00% 471
12.42% 8.72% 20.31% 1.89% 4.52% 17.46% 7.34% 27.34% 100.00% 472
8.08% 5.23% 18.11% 17.36% 2.69% 18.96% 18.09% 11.48% 100.00% 473
15.32% 6.74% 2.88% 12.50% 13.59% 20.87% 10.04% 18.06% 100.00% 474
0.87% 13.02% 19.32% 21.22% 0.54% 21.52% 12.31% 11.21% 100.00% 475
14.04% 16.93% 0.04% 21.10% 17.80% 5.96% 22.43% 1.69% 100.00% 476
10.74% 9.84% 5.53% 5.40% 28.26% 10.64% 24.40% 5.18% 100.00% 477
9.26% 1.50% 18.02% 4.43% 23.54% 7.23% 15.04% 20.98% 100.00% 478
11.03% 9.28% 21.70% 2.47% 22.15% 6.97% 0.01% 26.40% 100.00% 479
3.72% 21.59% 5.09% 20.21% 12.11% 23.96% 5.71% 7.61% 100.00% 480
25.17% 0.10% 24.12% 14.34% 4.84% 0.97% 5.95% 24.52% 100.00% 481
8.99% 17.81% 19.62% 8.65% 12.76% 11.54% 0.74% 19.88% 100.00% 482
11.15% 1.14% 11.03% 4.92% 17.57% 17.47% 20.63% 16.09% 100.00% 483
15.80% 13.00% 15.91% 5.29% 11.86% 0.96% 21.86% 15.31% 100.00% 484
13.95% 11.82% 14.03% 12.81% 16.15% 8.35% 12.89% 10.01% 100.00% 485
16.83% 21.44% 19.47% 11.43% 9.77% 6.14% 0.97% 13.94% 100.00% 486
7.66% 9.59% 6.74% 22.47% 9.47% 15.10% 3.58% 25.40% 100.00% 487
13.12% 32.80% 1.90% 15.01% 6.19% 7.54% 21.35% 2.09% 100.00% 488
14.58% 2.80% 12.60% 15.59% 0.84% 15.44% 17.98% 20.16% 100.00% 489
9.02% 0.38% 5.44% 8.92% 18.96% 5.10% 14.91% 37.27% 100.00% 490
19.92% 7.74% 17.44% 13.19% 14.21% 2.98% 4.62% 19.92% 100.00% 491
38.62% 0.55% 21.70% 16.31% 5.40% 6.70% 10.63% 0.10% 100.00% 492
10.46% 13.42% 19.07% 31.96% 7.46% 10.99% 0.73% 5.90% 100.00% 493
11.48% 18.57% 9.76% 8.54% 29.47% 0.20% 5.14% 16.84% 100.00% 494
10.51% 19.22% 21.55% 13.20% 9.67% 6.34% 11.22% 8.29% 100.00% 495
16.71% 31.41% 6.42% 31.84% 1.12% 3.72% 0.48% 8.30% 100.00% 496
11.04% 18.49% 13.66% 11.19% 1.77% 8.70% 18.42% 16.73% 100.00% 497
20.54% 14.31% 3.13% 13.79% 20.94% 21.39% 0.15% 5.74% 100.00% 498

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 57


Teoría Financiera y Costo de Capital

16.03% 18.04% 11.14% 7.80% 11.01% 17.33% 10.97% 7.69% 100.00% 499
15.91% 4.71% 4.97% 22.97% 24.28% 5.22% 6.18% 15.75% 100.00% 500

stimación de Participaciones

TSLA AMZN BAP INRETAIL BVN KO AAPL ETF SPY Total


w1 w2 w3 w4 w5 w6 w7 w8
0.1806 0.1228 0.1135 0.1472 0.0372 0.1500 0.1895 0.0591 1.0000
0.2418 0.0414 0.0746 0.1017 0.1145 0.1034 0.0787 0.2439 1.0000
0.2034 0.0830 0.2555 0.0142 0.2255 0.0276 0.1075 0.0832 1.0000
0.0987 0.1783 0.0156 0.1274 0.1342 0.0358 0.2347 0.1753 1.0000
0.1970 0.0722 0.0143 0.2129 0.1923 0.0518 0.0760 0.1834 1.0000
0.1717 0.0699 0.0377 0.0690 0.1657 0.0231 0.2318 0.2311 1.0000
0.2108 0.0090 0.1058 0.0336 0.2751 0.2699 0.0828 0.0129 1.0000
0.1618 0.0231 0.1041 0.1738 0.1952 0.1953 0.0914 0.0553 1.0000
0.0006 0.1310 0.1951 0.1733 0.1991 0.1899 0.0892 0.0218 1.0000
0.0990 0.2648 0.0425 0.0540 0.0758 0.2151 0.2212 0.0275 1.0000
0.3040 0.1653 0.1302 0.0611 0.1788 0.0082 0.0688 0.0836 1.0000
0.1318 0.0789 0.0315 0.2184 0.1842 0.1284 0.0147 0.2120 1.0000
0.2483 0.1001 0.1019 0.0609 0.0501 0.1839 0.1578 0.0970 1.0000
0.0354 0.1575 0.1538 0.0804 0.1374 0.1626 0.2117 0.0613 1.0000
0.2296 0.2775 0.0494 0.1700 0.0550 0.1155 0.0242 0.0788 1.0000
0.0554 0.0794 0.2329 0.0236 0.0720 0.1713 0.2201 0.1452 1.0000
0.1251 0.0606 0.1156 0.1815 0.1570 0.1620 0.1899 0.0082 1.0000
0.1611 0.1334 0.0794 0.1325 0.0903 0.1162 0.2386 0.0485 1.0000
0.1424 0.1957 0.0822 0.1219 0.1619 0.1554 0.0570 0.0835 1.0000
0.0700 0.1439 0.1742 0.0636 0.1332 0.0317 0.2294 0.1540 1.0000
0.1688 0.0575 0.1089 0.0382 0.2047 0.2018 0.0333 0.1869 1.0000
0.1343 0.0208 0.1726 0.0069 0.1127 0.1833 0.3456 0.0239 1.0000
0.1335 0.1592 0.0441 0.1125 0.1221 0.1621 0.1615 0.1049 1.0000
0.1609 0.1119 0.2041 0.0302 0.1540 0.0663 0.1846 0.0880 1.0000
0.1302 0.0731 0.1839 0.0411 0.0801 0.2187 0.1514 0.1215 1.0000
0.1008 0.1354 0.1210 0.1505 0.0732 0.1644 0.0972 0.1576 1.0000
0.2410 0.1025 0.2264 0.0715 0.0440 0.0410 0.1678 0.1058 1.0000
0.0448 0.1868 0.0259 0.2186 0.2062 0.0742 0.0163 0.2272 1.0000
0.0347 0.1042 0.0080 0.2223 0.1031 0.2442 0.1269 0.1567 1.0000
0.0974 0.1572 0.0798 0.1683 0.1654 0.1409 0.0735 0.1174 1.0000
0.0856 0.0632 0.0253 0.2042 0.1349 0.1619 0.1269 0.1978 1.0000
0.2153 0.1854 0.0638 0.0643 0.1816 0.1232 0.0430 0.1234 1.0000

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 58


Teoría Financiera y Costo de Capital

0.0614 0.2036 0.1878 0.1516 0.1404 0.0665 0.0780 0.1106 1.0000


0.1135 0.1206 0.2183 0.1343 0.1001 0.1290 0.1149 0.0695 1.0000
0.2123 0.2075 0.0146 0.0904 0.1759 0.0113 0.0765 0.2117 1.0000
0.0889 0.1359 0.0412 0.2068 0.1721 0.1362 0.2062 0.0128 1.0000
0.0700 0.0205 0.0539 0.2225 0.2677 0.0904 0.1765 0.0985 1.0000
0.0780 0.0298 0.2375 0.2899 0.0011 0.2389 0.0752 0.0497 1.0000
0.1543 0.1664 0.2537 0.0271 0.2871 0.0004 0.0024 0.1087 1.0000
0.0268 0.1833 0.1840 0.0831 0.1701 0.0637 0.1342 0.1547 1.0000
0.1321 0.0390 0.0969 0.0825 0.2063 0.2141 0.0523 0.1768 1.0000
0.0731 0.1273 0.3001 0.1770 0.0236 0.0099 0.0356 0.2533 1.0000
0.1485 0.1855 0.0548 0.2026 0.0254 0.0664 0.1388 0.1782 1.0000
0.0189 0.1063 0.0717 0.2095 0.1752 0.1186 0.1831 0.1166 1.0000
0.1165 0.1795 0.1444 0.1321 0.0095 0.1486 0.1230 0.1464 1.0000
0.0741 0.1695 0.0856 0.1760 0.0680 0.1797 0.0330 0.2142 1.0000
0.0707 0.2772 0.1912 0.0962 0.0276 0.0001 0.2490 0.0880 1.0000
0.1191 0.1270 0.0425 0.1543 0.1121 0.1771 0.0659 0.2020 1.0000
0.2599 0.1472 0.0367 0.1961 0.0027 0.1795 0.0500 0.1280 1.0000
0.0925 0.0452 0.1709 0.0806 0.2782 0.0238 0.0451 0.2637 1.0000
0.1532 0.1693 0.1609 0.0598 0.1822 0.0675 0.0241 0.1830 1.0000
0.1009 0.1146 0.1781 0.1142 0.1649 0.0390 0.1510 0.1373 1.0000
0.0844 0.0711 0.2441 0.0590 0.0995 0.1608 0.0342 0.2469 1.0000
0.3000 0.0094 0.0055 0.1365 0.3065 0.0206 0.1709 0.0507 1.0000
0.1623 0.0444 0.1981 0.1321 0.1898 0.1178 0.1499 0.0056 1.0000
0.0280 0.1674 0.1449 0.0993 0.1504 0.1325 0.1171 0.1604 1.0000
0.1548 0.1520 0.0864 0.1558 0.1162 0.1527 0.0356 0.1464 1.0000
0.2064 0.0235 0.0597 0.2813 0.0024 0.1966 0.0432 0.1869 1.0000
0.0950 0.2045 0.3695 0.2015 0.0113 0.0482 0.0337 0.0362 1.0000
0.0291 0.1217 0.2320 0.0811 0.1575 0.1390 0.0067 0.2329 1.0000
0.2063 0.2496 0.1501 0.2068 0.0197 0.0973 0.0225 0.0478 1.0000
0.2385 0.2121 0.0129 0.0854 0.0095 0.0850 0.2714 0.0852 1.0000
0.0349 0.0151 0.1673 0.1868 0.2030 0.0528 0.1415 0.1987 1.0000
0.1873 0.0321 0.1981 0.1231 0.1617 0.0500 0.0988 0.1489 1.0000
0.1784 0.0126 0.1323 0.1646 0.0030 0.1806 0.1826 0.1460 1.0000
0.0238 0.2042 0.1551 0.1948 0.2158 0.0096 0.1693 0.0275 1.0000
0.1837 0.0750 0.1530 0.0230 0.2443 0.1403 0.1564 0.0243 1.0000
0.2346 0.1487 0.0401 0.0606 0.2270 0.0473 0.1919 0.0498 1.0000
0.1902 0.0201 0.1586 0.1520 0.1663 0.1730 0.0757 0.0640 1.0000
0.1219 0.0827 0.0982 0.1710 0.1157 0.0730 0.1638 0.1737 1.0000
0.2165 0.0080 0.2222 0.1084 0.0403 0.0009 0.2025 0.2013 1.0000

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 59


Teoría Financiera y Costo de Capital

0.0638 0.2238 0.0981 0.0501 0.2407 0.0903 0.2238 0.0095 1.0000


0.1186 0.1890 0.0475 0.0742 0.0535 0.1456 0.2270 0.1445 1.0000
0.2399 0.0222 0.1122 0.1247 0.1430 0.1714 0.1811 0.0055 1.0000
0.1832 0.0736 0.1230 0.0565 0.1356 0.2127 0.0066 0.2088 1.0000
0.0892 0.0533 0.1909 0.0128 0.1817 0.1605 0.2174 0.0942 1.0000
0.1476 0.1958 0.1598 0.2882 0.0264 0.0598 0.0717 0.0507 1.0000
0.1431 0.2732 0.1114 0.0012 0.1154 0.2278 0.0323 0.0955 1.0000
0.3261 0.1616 0.0315 0.0279 0.0665 0.1951 0.1606 0.0306 1.0000
0.1292 0.0401 0.0573 0.2175 0.1982 0.1136 0.1523 0.0918 1.0000
0.1319 0.1388 0.1515 0.0523 0.2320 0.0404 0.0235 0.2295 1.0000
0.1167 0.2226 0.0326 0.1924 0.0001 0.2307 0.1774 0.0275 1.0000
0.0327 0.0932 0.1886 0.2649 0.0723 0.1185 0.0478 0.1820 1.0000
0.1952 0.0079 0.1922 0.1421 0.1636 0.0167 0.2157 0.0665 1.0000
0.1213 0.1514 0.1513 0.1259 0.2116 0.0416 0.1310 0.0659 1.0000
0.1397 0.1445 0.1314 0.1033 0.0033 0.1333 0.1619 0.1825 1.0000
0.0658 0.1696 0.1245 0.2055 0.1485 0.0747 0.0932 0.1182 1.0000
0.1200 0.1627 0.0519 0.2772 0.0345 0.0988 0.0299 0.2250 1.0000
0.1681 0.1197 0.1530 0.1863 0.0588 0.1702 0.0521 0.0917 1.0000
0.0769 0.1227 0.1276 0.1407 0.1515 0.1270 0.0659 0.1878 1.0000
0.1022 0.0429 0.0416 0.0556 0.3381 0.2400 0.0590 0.1207 1.0000
0.2204 0.1190 0.2400 0.1450 0.0458 0.0609 0.1508 0.0180 1.0000
0.0494 0.0974 0.0114 0.0662 0.2050 0.2043 0.1779 0.1883 1.0000
0.0508 0.2395 0.2422 0.0295 0.0961 0.1974 0.0648 0.0798 1.0000
0.1348 0.1120 0.2919 0.0336 0.0170 0.1954 0.2063 0.0090 1.0000
0.1508 0.1306 0.2203 0.0123 0.1811 0.1337 0.0562 0.1151 1.0000
0.0194 0.0821 0.0498 0.0943 0.3475 0.0225 0.2577 0.1267 1.0000
0.0376 0.0103 0.1096 0.0462 0.1197 0.3638 0.0092 0.3037 1.0000
0.0711 0.0745 0.1467 0.2665 0.1910 0.1404 0.1075 0.0023 1.0000
0.0035 0.1489 0.0307 0.1407 0.0769 0.2161 0.1121 0.2711 1.0000
0.1461 0.0727 0.1849 0.1416 0.0550 0.0887 0.1124 0.1985 1.0000
0.1483 0.1341 0.1713 0.1707 0.0941 0.0722 0.1795 0.0298 1.0000
0.0716 0.2565 0.2716 0.0050 0.0162 0.1818 0.1545 0.0428 1.0000
0.1953 0.0587 0.2252 0.1493 0.2212 0.1256 0.0243 0.0005 1.0000
0.0528 0.1969 0.2222 0.0724 0.2838 0.0464 0.0149 0.1105 1.0000
0.1634 0.0464 0.0651 0.1695 0.2172 0.1529 0.1624 0.0230 1.0000
0.1751 0.0528 0.0861 0.0910 0.1055 0.1907 0.2658 0.0330 1.0000
0.0715 0.0009 0.2624 0.2252 0.2397 0.0784 0.0881 0.0338 1.0000
0.0744 0.1441 0.2085 0.0483 0.1272 0.2248 0.0385 0.1342 1.0000
0.1470 0.2176 0.0117 0.0921 0.2035 0.0201 0.0856 0.2225 1.0000

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 60


Teoría Financiera y Costo de Capital

0.2021 0.2371 0.0900 0.0149 0.1181 0.1827 0.1018 0.0533 1.0000


0.0569 0.1282 0.0922 0.1511 0.1511 0.1303 0.1639 0.1263 1.0000
0.0541 0.2306 0.1973 0.0568 0.1330 0.0204 0.0700 0.2378 1.0000
0.0912 0.1233 0.1250 0.1053 0.0511 0.2717 0.0862 0.1462 1.0000
0.1194 0.2005 0.1848 0.0110 0.1282 0.2018 0.0535 0.1008 1.0000
0.0938 0.1838 0.1690 0.1645 0.1137 0.0973 0.1718 0.0062 1.0000
0.1009 0.1422 0.0556 0.1561 0.1504 0.0170 0.2099 0.1679 1.0000
0.0076 0.1130 0.1682 0.1770 0.1997 0.1970 0.0804 0.0571 1.0000
0.1382 0.2295 0.0839 0.2469 0.2612 0.0276 0.0116 0.0011 1.0000
0.2105 0.1027 0.1985 0.0960 0.1930 0.0088 0.0781 0.1125 1.0000
0.0948 0.0576 0.1159 0.1928 0.1729 0.1011 0.1709 0.0939 1.0000
0.1562 0.0387 0.0101 0.0914 0.1746 0.2360 0.0687 0.2242 1.0000
0.1552 0.0990 0.0298 0.0304 0.1937 0.1802 0.1349 0.1767 1.0000
0.1951 0.1272 0.2209 0.0123 0.2065 0.0919 0.0552 0.0909 1.0000
0.1055 0.1209 0.0115 0.2010 0.1402 0.0850 0.1992 0.1367 1.0000
0.0521 0.1335 0.1443 0.1860 0.0242 0.1500 0.2240 0.0859 1.0000
0.2312 0.2132 0.1373 0.1812 0.1105 0.0092 0.0776 0.0398 1.0000
0.1505 0.1413 0.0903 0.0635 0.1546 0.1347 0.1686 0.0966 1.0000
0.1466 0.1422 0.1041 0.1796 0.1086 0.0514 0.1222 0.1453 1.0000
0.1722 0.2040 0.1814 0.0692 0.1094 0.0705 0.0785 0.1147 1.0000
0.2007 0.0347 0.0717 0.1145 0.0716 0.0071 0.2532 0.2464 1.0000
0.1150 0.1735 0.1892 0.2049 0.0103 0.0674 0.0969 0.1428 1.0000
0.0047 0.1964 0.0219 0.1692 0.1285 0.2230 0.1225 0.1337 1.0000
0.2214 0.2039 0.2174 0.1627 0.0512 0.0004 0.0724 0.0706 1.0000
0.1951 0.2046 0.0376 0.1355 0.0961 0.1428 0.0439 0.1444 1.0000
0.1042 0.1373 0.0537 0.1203 0.2051 0.1840 0.0732 0.1222 1.0000
0.1301 0.0037 0.2242 0.1745 0.0117 0.0983 0.2370 0.1206 1.0000
0.2071 0.1934 0.0101 0.1276 0.0862 0.1264 0.0870 0.1622 1.0000
0.0530 0.2478 0.3034 0.0769 0.0955 0.1044 0.1042 0.0148 1.0000
0.1736 0.0223 0.1364 0.1015 0.1812 0.0872 0.1365 0.1612 1.0000
0.0516 0.2217 0.2204 0.0889 0.0910 0.0198 0.1690 0.1376 1.0000
0.2094 0.1276 0.1594 0.0887 0.1661 0.1156 0.1277 0.0056 1.0000
0.0765 0.1886 0.1914 0.0107 0.0916 0.0295 0.1705 0.2413 1.0000
0.0354 0.1619 0.1182 0.0024 0.2366 0.3069 0.0076 0.1310 1.0000
0.0848 0.0073 0.1384 0.2391 0.0011 0.1034 0.3004 0.1256 1.0000
0.0681 0.1543 0.2755 0.0271 0.1853 0.0051 0.1161 0.1686 1.0000
0.1013 0.1055 0.1087 0.0213 0.0839 0.3931 0.0074 0.1788 1.0000
0.0632 0.0494 0.1124 0.0959 0.1942 0.1646 0.1793 0.1410 1.0000
0.1390 0.0596 0.2487 0.0479 0.1553 0.0919 0.0427 0.2150 1.0000

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 61


Teoría Financiera y Costo de Capital

0.0901 0.1287 0.0953 0.1776 0.0484 0.1636 0.1463 0.1500 1.0000


0.2598 0.1034 0.0960 0.1603 0.0160 0.1211 0.1805 0.0629 1.0000
0.1338 0.1640 0.1310 0.1152 0.1271 0.0784 0.1054 0.1451 1.0000
0.1281 0.2055 0.0199 0.1758 0.0975 0.0474 0.1329 0.1929 1.0000
0.2203 0.0101 0.1014 0.1976 0.0854 0.2289 0.0554 0.1009 1.0000
0.0622 0.0203 0.1788 0.2209 0.1683 0.0391 0.1634 0.1470 1.0000
0.1023 0.1261 0.0120 0.1232 0.1438 0.1531 0.1687 0.1708 1.0000
0.2062 0.1357 0.2128 0.0728 0.1130 0.2313 0.0140 0.0141 1.0000
0.0700 0.1233 0.0874 0.0433 0.2336 0.2452 0.1487 0.0485 1.0000
0.1852 0.1831 0.0926 0.0636 0.0640 0.1559 0.0553 0.2003 1.0000
0.0024 0.1329 0.1741 0.1457 0.1864 0.2182 0.0338 0.1065 1.0000
0.1293 0.0709 0.1386 0.1498 0.1206 0.2750 0.0092 0.1066 1.0000
0.1086 0.0229 0.1416 0.1067 0.1516 0.1802 0.1060 0.1824 1.0000
0.0255 0.1556 0.1881 0.1504 0.0489 0.0248 0.2327 0.1739 1.0000
0.0818 0.0100 0.1914 0.1407 0.0123 0.2199 0.1436 0.2002 1.0000
0.1023 0.2201 0.0882 0.0596 0.1903 0.1468 0.1015 0.0912 1.0000
0.1228 0.1959 0.0666 0.0881 0.0470 0.0255 0.1855 0.2687 1.0000
0.0018 0.1656 0.0489 0.0638 0.1298 0.1944 0.2335 0.1623 1.0000
0.0174 0.2302 0.0313 0.0639 0.2182 0.2034 0.1159 0.1199 1.0000
0.1502 0.1283 0.2702 0.0384 0.1955 0.0648 0.1278 0.0249 1.0000
0.0213 0.0771 0.1653 0.1394 0.1833 0.1883 0.0644 0.1608 1.0000
0.1425 0.0435 0.1820 0.1084 0.0282 0.0735 0.2072 0.2146 1.0000
0.2185 0.0423 0.0147 0.2397 0.1073 0.1631 0.1335 0.0809 1.0000
0.1583 0.0545 0.1761 0.1520 0.0842 0.1394 0.1791 0.0563 1.0000
0.1383 0.0213 0.1330 0.1903 0.1896 0.1436 0.1009 0.0829 1.0000
0.1093 0.1624 0.0116 0.0974 0.0526 0.0078 0.2823 0.2765 1.0000
0.1876 0.1700 0.0143 0.1773 0.1342 0.0459 0.1990 0.0718 1.0000
0.1547 0.0031 0.1123 0.0390 0.2129 0.0271 0.2320 0.2189 1.0000
0.2466 0.0736 0.2244 0.2248 0.0963 0.0640 0.0437 0.0266 1.0000
0.2542 0.1838 0.0519 0.1252 0.0990 0.0100 0.1981 0.0778 1.0000
0.1159 0.1732 0.1758 0.1247 0.1441 0.0812 0.1638 0.0214 1.0000
0.0872 0.0457 0.0626 0.2677 0.1005 0.1769 0.0218 0.2376 1.0000
0.0623 0.2428 0.1360 0.0015 0.1987 0.1629 0.0036 0.1922 1.0000
0.0209 0.2534 0.0236 0.1407 0.2018 0.0815 0.0585 0.2197 1.0000
0.2424 0.1710 0.0442 0.0589 0.1108 0.2886 0.0337 0.0504 1.0000
0.1501 0.1767 0.1285 0.0681 0.0630 0.0964 0.1989 0.1182 1.0000
0.0545 0.2016 0.1311 0.2229 0.0369 0.1172 0.0734 0.1625 1.0000
0.0069 0.1808 0.1245 0.2209 0.1707 0.0509 0.1075 0.1378 1.0000
0.1240 0.1415 0.1132 0.0989 0.0789 0.1160 0.1783 0.1493 1.0000

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 62


Teoría Financiera y Costo de Capital

0.0387 0.0814 0.0871 0.2539 0.0878 0.2330 0.0739 0.1443 1.0000


0.0216 0.1466 0.0866 0.1447 0.1276 0.1031 0.1721 0.1978 1.0000
0.0750 0.1278 0.1708 0.2319 0.0569 0.2358 0.0082 0.0935 1.0000
0.1369 0.1761 0.0431 0.2468 0.0148 0.0172 0.2345 0.1305 1.0000
0.0113 0.0172 0.0974 0.0836 0.0065 0.3525 0.2261 0.2053 1.0000
0.1719 0.1771 0.1152 0.1572 0.0576 0.2382 0.0524 0.0305 1.0000
0.2765 0.1362 0.0400 0.0685 0.1002 0.1175 0.0249 0.2362 1.0000
0.0188 0.2099 0.1412 0.0750 0.1117 0.1344 0.1733 0.1358 1.0000
0.1357 0.1625 0.0230 0.0958 0.1855 0.1523 0.1802 0.0650 1.0000
0.0912 0.1883 0.0812 0.1962 0.1886 0.0210 0.0565 0.1770 1.0000
0.2736 0.0973 0.0843 0.0837 0.1621 0.1215 0.1325 0.0450 1.0000
0.2363 0.0312 0.0635 0.0337 0.2217 0.0062 0.1871 0.2204 1.0000
0.0275 0.0843 0.1433 0.1720 0.1786 0.0725 0.1521 0.1696 1.0000
0.1226 0.1349 0.1553 0.1026 0.1486 0.0279 0.1653 0.1427 1.0000
0.0986 0.1709 0.0255 0.1295 0.2143 0.2590 0.0595 0.0428 1.0000
0.1519 0.1865 0.0819 0.1871 0.0291 0.0110 0.2183 0.1344 1.0000
0.1155 0.2334 0.0879 0.0783 0.0856 0.1160 0.2416 0.0417 1.0000
0.2194 0.0211 0.0426 0.1469 0.1205 0.0712 0.2049 0.1734 1.0000
0.1862 0.0169 0.1730 0.0806 0.0046 0.1707 0.2303 0.1377 1.0000
0.1015 0.1317 0.1370 0.0007 0.0396 0.0957 0.2519 0.2419 1.0000
0.3191 0.1287 0.1090 0.1195 0.0786 0.0163 0.0497 0.1791 1.0000
0.1463 0.1237 0.1303 0.2062 0.1299 0.1553 0.0657 0.0425 1.0000
0.0710 0.1598 0.1521 0.0947 0.1273 0.1342 0.1498 0.1112 1.0000
0.0509 0.1613 0.1783 0.1464 0.0584 0.2537 0.0197 0.1313 1.0000
0.1010 0.1567 0.0615 0.1183 0.1104 0.0680 0.2000 0.1842 1.0000
0.0243 0.1162 0.1827 0.0533 0.1934 0.1622 0.1497 0.1182 1.0000
0.0877 0.0009 0.1354 0.1695 0.0578 0.2488 0.2235 0.0763 1.0000
0.0147 0.1367 0.0056 0.2118 0.1234 0.1348 0.1512 0.2218 1.0000
0.2089 0.0569 0.0143 0.1463 0.2014 0.0743 0.0797 0.2181 1.0000
0.1281 0.0129 0.0576 0.0168 0.3362 0.2568 0.1227 0.0689 1.0000
0.1733 0.1858 0.1362 0.0602 0.2135 0.0764 0.1318 0.0229 1.0000
0.1518 0.1818 0.0728 0.0568 0.0739 0.1179 0.1630 0.1820 1.0000
0.0955 0.1866 0.1274 0.0730 0.0526 0.1272 0.1267 0.2109 1.0000
0.0957 0.2278 0.1575 0.0090 0.0373 0.1264 0.1956 0.1507 1.0000
0.1408 0.2227 0.1863 0.0828 0.0978 0.1024 0.0470 0.1203 1.0000
0.1933 0.0733 0.1408 0.1043 0.2006 0.1529 0.0651 0.0698 1.0000
0.0888 0.1748 0.1841 0.1246 0.0094 0.0958 0.1514 0.1712 1.0000
0.1299 0.0559 0.1814 0.0002 0.1610 0.1797 0.1825 0.1093 1.0000
0.1512 0.1486 0.0795 0.1981 0.0347 0.1379 0.0379 0.2122 1.0000

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 63


Teoría Financiera y Costo de Capital

0.0276 0.0801 0.1679 0.0279 0.2930 0.0153 0.1787 0.2095 1.0000


0.1406 0.0329 0.1827 0.1768 0.1185 0.0940 0.0612 0.1934 1.0000
0.1896 0.1869 0.1843 0.1265 0.0485 0.0675 0.0462 0.1506 1.0000
0.0525 0.0608 0.0396 0.2095 0.1803 0.1321 0.1325 0.1927 1.0000
0.1336 0.1990 0.1876 0.0348 0.0405 0.0338 0.1748 0.1958 1.0000
0.1069 0.0714 0.1511 0.1672 0.1712 0.0122 0.1251 0.1949 1.0000
0.1722 0.2266 0.0773 0.0988 0.0597 0.1092 0.1406 0.1156 1.0000
0.1059 0.1018 0.1575 0.1286 0.1766 0.1601 0.1439 0.0255 1.0000
0.1318 0.1582 0.1704 0.1426 0.1236 0.1030 0.0768 0.0937 1.0000
0.1397 0.2301 0.1066 0.1509 0.0536 0.1665 0.0303 0.1224 1.0000
0.1370 0.1312 0.1355 0.1736 0.0933 0.1186 0.1573 0.0535 1.0000
0.1331 0.0452 0.0893 0.1133 0.2097 0.0839 0.0968 0.2286 1.0000
0.1716 0.0858 0.0833 0.0337 0.1334 0.2070 0.1254 0.1598 1.0000
0.0767 0.2033 0.2183 0.1156 0.0648 0.0681 0.1111 0.1420 1.0000
0.0097 0.1648 0.0327 0.3153 0.0775 0.1294 0.0158 0.2549 1.0000
0.1579 0.0348 0.2900 0.0380 0.2017 0.0871 0.1086 0.0819 1.0000
0.0132 0.0977 0.1366 0.0752 0.2653 0.1363 0.0114 0.2641 1.0000
0.1422 0.1496 0.1023 0.1494 0.1863 0.1102 0.0715 0.0885 1.0000
0.1718 0.0836 0.2302 0.0778 0.0211 0.2022 0.1471 0.0663 1.0000
0.0691 0.0684 0.2101 0.1402 0.0797 0.0588 0.1299 0.2437 1.0000
0.0115 0.1810 0.0047 0.2597 0.2211 0.1168 0.0658 0.1396 1.0000
0.2288 0.0634 0.0004 0.1744 0.1004 0.1909 0.2263 0.0153 1.0000
0.0212 0.0075 0.2729 0.1884 0.0646 0.1720 0.0339 0.2395 1.0000
0.2065 0.1022 0.0782 0.2198 0.0755 0.0612 0.0944 0.1621 1.0000
0.2965 0.0942 0.1476 0.0716 0.0637 0.1401 0.0845 0.1019 1.0000
0.0387 0.0842 0.0485 0.1305 0.2943 0.0259 0.3144 0.0635 1.0000
0.1862 0.2041 0.1141 0.1225 0.2012 0.0272 0.0361 0.1085 1.0000
0.0608 0.0146 0.1999 0.2089 0.1479 0.0256 0.2233 0.1188 1.0000
0.2008 0.0700 0.0970 0.1780 0.0150 0.1957 0.1264 0.1171 1.0000
0.1407 0.1911 0.1740 0.0484 0.0763 0.1114 0.0760 0.1821 1.0000
0.1640 0.2381 0.1802 0.0851 0.1246 0.0885 0.0107 0.1089 1.0000
0.1332 0.1258 0.1028 0.1389 0.1033 0.1370 0.1271 0.1319 1.0000
0.0610 0.1515 0.1909 0.0499 0.1059 0.1091 0.1677 0.1639 1.0000
0.0609 0.0224 0.2213 0.0599 0.0793 0.1936 0.1921 0.1706 1.0000
0.1710 0.0499 0.0638 0.0324 0.2025 0.1918 0.0868 0.2017 1.0000
0.1807 0.0625 0.1847 0.1551 0.1594 0.0635 0.0817 0.1126 1.0000
0.2493 0.0277 0.0384 0.2428 0.1793 0.0884 0.0244 0.1497 1.0000
0.1734 0.0028 0.1418 0.2594 0.0205 0.0463 0.2628 0.0930 1.0000
0.0251 0.1163 0.2264 0.1104 0.1249 0.1861 0.1561 0.0548 1.0000

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 64


Teoría Financiera y Costo de Capital

0.0849 0.1920 0.1807 0.2108 0.1882 0.0078 0.1009 0.0347 1.0000


0.1396 0.2389 0.0876 0.2041 0.1222 0.0373 0.0851 0.0852 1.0000
0.1314 0.1274 0.1719 0.0611 0.1909 0.0478 0.1722 0.0974 1.0000
0.2450 0.0509 0.0975 0.0074 0.1416 0.1845 0.1288 0.1443 1.0000
0.0366 0.2119 0.0262 0.3515 0.0992 0.1721 0.0326 0.0700 1.0000
0.2087 0.1786 0.1876 0.1024 0.0032 0.1481 0.0142 0.1572 1.0000
0.0269 0.2520 0.2379 0.0986 0.0143 0.1095 0.1336 0.1272 1.0000
0.0813 0.1384 0.0085 0.0556 0.1642 0.2311 0.1788 0.1421 1.0000
0.1571 0.0787 0.1719 0.0702 0.1014 0.1456 0.1522 0.1230 1.0000
0.0470 0.1715 0.1766 0.1608 0.2166 0.0341 0.1862 0.0071 1.0000
0.2762 0.1004 0.0018 0.1638 0.1113 0.2035 0.1103 0.0327 1.0000
0.0384 0.0472 0.2571 0.3191 0.0445 0.0127 0.2237 0.0573 1.0000
0.2248 0.2109 0.0277 0.2220 0.1706 0.0248 0.1046 0.0146 1.0000
0.0947 0.1548 0.0321 0.1538 0.1674 0.1135 0.2168 0.0668 1.0000
0.0186 0.1613 0.0494 0.2422 0.0424 0.1872 0.1930 0.1059 1.0000
0.2062 0.0232 0.0617 0.2063 0.1012 0.1041 0.2232 0.0740 1.0000
0.1814 0.1190 0.0892 0.0792 0.1238 0.1313 0.0860 0.1900 1.0000
0.1750 0.1487 0.1315 0.0650 0.0409 0.1173 0.1425 0.1790 1.0000
0.1411 0.0667 0.1036 0.1268 0.1214 0.0671 0.1771 0.1962 1.0000
0.0289 0.2294 0.0603 0.2352 0.1691 0.1507 0.1229 0.0034 1.0000
0.0487 0.0556 0.1232 0.1077 0.1031 0.0441 0.2275 0.2901 1.0000
0.0994 0.1736 0.0725 0.2525 0.0547 0.1913 0.1283 0.0276 1.0000
0.1950 0.0403 0.1117 0.1492 0.1477 0.1101 0.2302 0.0159 1.0000
0.1309 0.0716 0.1992 0.1297 0.2204 0.2145 0.0291 0.0046 1.0000
0.0806 0.1742 0.1727 0.1785 0.0373 0.0600 0.1603 0.1365 1.0000
0.2647 0.0774 0.0880 0.0748 0.1273 0.0564 0.0215 0.2897 1.0000
0.0535 0.1744 0.1876 0.2329 0.1083 0.0864 0.0537 0.1033 1.0000
0.1137 0.2387 0.0435 0.1134 0.0871 0.0637 0.1893 0.1507 1.0000
0.2212 0.1939 0.0931 0.1253 0.0161 0.1897 0.1589 0.0018 1.0000
0.1752 0.1826 0.0468 0.1365 0.0650 0.1146 0.2177 0.0617 1.0000
0.1413 0.1864 0.0041 0.1063 0.2260 0.1161 0.1320 0.0878 1.0000
0.1044 0.2134 0.1224 0.0081 0.1546 0.0803 0.2131 0.1036 1.0000
0.0382 0.0129 0.2359 0.1601 0.1471 0.0838 0.1065 0.2155 1.0000
0.0907 0.2635 0.1055 0.2349 0.0166 0.0783 0.0040 0.2065 1.0000
0.0423 0.1735 0.1871 0.1301 0.0186 0.1783 0.0774 0.1927 1.0000
0.1360 0.0871 0.1196 0.0425 0.1260 0.1686 0.1382 0.1820 1.0000
0.0973 0.1621 0.1225 0.2205 0.1056 0.1474 0.1047 0.0399 1.0000
0.1117 0.1359 0.1519 0.2387 0.0105 0.0360 0.0528 0.2626 1.0000
0.1683 0.0064 0.1891 0.2041 0.1420 0.0774 0.1615 0.0511 1.0000

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 65


Teoría Financiera y Costo de Capital

0.0409 0.1645 0.0530 0.1443 0.1386 0.0346 0.2183 0.2057 1.0000


0.0766 0.0448 0.0827 0.2816 0.1312 0.1239 0.0146 0.2447 1.0000
0.2375 0.0268 0.1103 0.0903 0.0250 0.1818 0.2293 0.0991 1.0000
0.1539 0.1139 0.3320 0.1412 0.1103 0.0351 0.0801 0.0335 1.0000
0.1589 0.0463 0.0368 0.0061 0.1208 0.1166 0.2825 0.2319 1.0000
0.0765 0.0586 0.0638 0.2176 0.2530 0.1046 0.1093 0.1165 1.0000
0.0634 0.1921 0.2301 0.0463 0.0334 0.2120 0.0710 0.1518 1.0000
0.1227 0.3033 0.0594 0.0548 0.1614 0.0510 0.1456 0.1019 1.0000
0.0109 0.1285 0.1550 0.0882 0.1309 0.1865 0.1533 0.1468 1.0000
0.1485 0.1105 0.1849 0.2433 0.1228 0.0747 0.0176 0.0977 1.0000
0.0924 0.1287 0.0116 0.1793 0.1460 0.0780 0.1840 0.1801 1.0000
0.0160 0.1946 0.0608 0.2609 0.1909 0.0533 0.1075 0.1160 1.0000
0.1147 0.1590 0.0603 0.1726 0.0334 0.1803 0.1898 0.0900 1.0000
0.1920 0.1258 0.1865 0.1116 0.1665 0.0264 0.0453 0.1460 1.0000
0.0213 0.1261 0.1140 0.1315 0.1850 0.1729 0.0881 0.1611 1.0000
0.1688 0.2770 0.0562 0.0854 0.1917 0.0057 0.0985 0.1168 1.0000
0.0953 0.1595 0.0883 0.0780 0.0825 0.1312 0.1758 0.1893 1.0000
0.1257 0.1946 0.0765 0.0372 0.1367 0.1688 0.0954 0.1651 1.0000
0.0979 0.2117 0.1596 0.1050 0.1537 0.0667 0.1150 0.0903 1.0000
0.1514 0.2276 0.0444 0.0755 0.2082 0.0722 0.1278 0.0931 1.0000
0.0176 0.1465 0.1440 0.1719 0.2233 0.0291 0.2379 0.0296 1.0000
0.1378 0.2168 0.0130 0.0465 0.2268 0.2115 0.0872 0.0605 1.0000
0.0693 0.1428 0.1800 0.1251 0.0989 0.1654 0.2028 0.0157 1.0000
0.2547 0.1956 0.0835 0.0513 0.0831 0.2149 0.1006 0.0163 1.0000
0.1856 0.1542 0.1751 0.1246 0.1657 0.0268 0.0553 0.1127 1.0000
0.1877 0.1188 0.1441 0.0286 0.3037 0.1068 0.0525 0.0578 1.0000
0.0441 0.2182 0.0874 0.0807 0.1318 0.0554 0.1593 0.2231 1.0000
0.2147 0.1529 0.1452 0.0840 0.0961 0.0787 0.1148 0.1138 1.0000
0.0671 0.1364 0.0481 0.1989 0.1684 0.1151 0.0695 0.1965 1.0000
0.1580 0.0981 0.2188 0.1337 0.1944 0.0795 0.0452 0.0723 1.0000
0.0110 0.0759 0.0902 0.1723 0.0527 0.2926 0.1817 0.1238 1.0000
0.0890 0.2002 0.1104 0.0263 0.2006 0.1456 0.0365 0.1913 1.0000
0.0579 0.2196 0.0627 0.0596 0.1525 0.0685 0.1637 0.2155 1.0000
0.0221 0.0116 0.1091 0.1767 0.1885 0.1341 0.1760 0.1818 1.0000
0.1418 0.2165 0.0878 0.2179 0.0824 0.0397 0.1221 0.0917 1.0000
0.1187 0.2276 0.0109 0.1414 0.0587 0.1719 0.1024 0.1685 1.0000
0.1341 0.0123 0.0959 0.1277 0.0706 0.2225 0.1879 0.1490 1.0000
0.0644 0.0963 0.1249 0.1460 0.1903 0.1767 0.0724 0.1289 1.0000
0.0821 0.1787 0.0404 0.1159 0.1441 0.1912 0.0749 0.1726 1.0000

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 66


Teoría Financiera y Costo de Capital

0.1856 0.1378 0.0091 0.0694 0.1557 0.0973 0.2933 0.0519 1.0000


0.1078 0.1890 0.0873 0.3042 0.0011 0.1177 0.0900 0.1029 1.0000
0.0084 0.1264 0.0815 0.0618 0.1403 0.1454 0.3285 0.1077 1.0000
0.2320 0.0235 0.0986 0.0254 0.0277 0.2614 0.2216 0.1098 1.0000
0.0821 0.1897 0.1205 0.1286 0.0548 0.1902 0.0515 0.1826 1.0000
0.2432 0.1918 0.0394 0.1407 0.0135 0.0582 0.0686 0.2446 1.0000
0.1223 0.2362 0.2591 0.1316 0.0857 0.0461 0.0668 0.0523 1.0000
0.0681 0.1068 0.0293 0.2997 0.0836 0.1181 0.1527 0.1418 1.0000
0.1399 0.1053 0.0941 0.1139 0.0896 0.0492 0.1929 0.2150 1.0000
0.2541 0.0308 0.1662 0.0663 0.1165 0.1718 0.0422 0.1520 1.0000
0.1239 0.0493 0.1405 0.0909 0.1523 0.1405 0.1703 0.1323 1.0000
0.1689 0.0222 0.1482 0.1251 0.0860 0.2234 0.2218 0.0043 1.0000
0.0671 0.1815 0.0940 0.1934 0.0644 0.1045 0.1423 0.1528 1.0000
0.0010 0.0785 0.1523 0.1848 0.1837 0.0648 0.1563 0.1786 1.0000
0.2106 0.1586 0.0830 0.0485 0.0129 0.1895 0.1389 0.1579 1.0000
0.0510 0.0937 0.2083 0.1406 0.1490 0.1385 0.0308 0.1881 1.0000
0.0551 0.1338 0.1614 0.2002 0.1610 0.1468 0.0713 0.0704 1.0000
0.0656 0.0416 0.2608 0.1104 0.2200 0.0700 0.0982 0.1334 1.0000
0.2223 0.0065 0.0520 0.2061 0.1932 0.0442 0.2405 0.0353 1.0000
0.2439 0.1584 0.2339 0.1054 0.0188 0.0532 0.1526 0.0339 1.0000
0.1741 0.0056 0.1880 0.1924 0.1667 0.0947 0.0949 0.0835 1.0000
0.1827 0.0337 0.0226 0.2948 0.1609 0.0716 0.0779 0.1557 1.0000
0.1147 0.0371 0.1827 0.2110 0.1764 0.0047 0.2087 0.0648 1.0000
0.1008 0.0611 0.1392 0.0878 0.1184 0.1895 0.1646 0.1386 1.0000
0.3255 0.1237 0.1108 0.0805 0.1513 0.0021 0.1704 0.0357 1.0000
0.1392 0.1491 0.1813 0.0551 0.1138 0.1121 0.2054 0.0439 1.0000
0.0899 0.1909 0.0994 0.1626 0.0552 0.1403 0.2063 0.0554 1.0000
0.0044 0.0524 0.2297 0.2797 0.2957 0.0814 0.0287 0.0281 1.0000
0.1150 0.0659 0.1592 0.0503 0.1677 0.2533 0.0308 0.1579 1.0000
0.1126 0.0544 0.1594 0.1745 0.1956 0.0706 0.2112 0.0216 1.0000
0.0594 0.1370 0.1669 0.1224 0.0275 0.1954 0.1546 0.1367 1.0000
0.2189 0.2092 0.0575 0.2286 0.0160 0.1524 0.0101 0.1074 1.0000
0.2037 0.2066 0.0413 0.0479 0.1249 0.1494 0.0267 0.1994 1.0000
0.1782 0.1809 0.0638 0.1314 0.1556 0.0885 0.0011 0.2005 1.0000
0.0656 0.1248 0.2058 0.1719 0.1479 0.1684 0.0560 0.0594 1.0000
0.1267 0.1402 0.0877 0.0852 0.1281 0.1324 0.1157 0.1840 1.0000
0.1499 0.1364 0.0741 0.1054 0.1859 0.1452 0.1831 0.0200 1.0000
0.1484 0.0064 0.1101 0.2612 0.1376 0.2623 0.0243 0.0499 1.0000
0.0060 0.1566 0.2168 0.0278 0.1837 0.0793 0.2143 0.1155 1.0000

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 67


Teoría Financiera y Costo de Capital

0.0222 0.1072 0.3470 0.3125 0.0199 0.0761 0.1138 0.0014 1.0000


0.2366 0.0143 0.2766 0.1014 0.0750 0.2340 0.0059 0.0562 1.0000
0.0349 0.3403 0.1299 0.1149 0.0569 0.0148 0.1086 0.1997 1.0000
0.0090 0.1706 0.2106 0.2018 0.1454 0.0361 0.0595 0.1668 1.0000
0.0207 0.1124 0.1139 0.1003 0.1442 0.1687 0.1767 0.1633 1.0000
0.1921 0.1653 0.0772 0.1994 0.0785 0.1311 0.0891 0.0673 1.0000
0.0403 0.2140 0.0360 0.2009 0.1112 0.1687 0.2056 0.0232 1.0000
0.1472 0.0460 0.0862 0.1398 0.1362 0.0748 0.1897 0.1801 1.0000
0.1711 0.0361 0.0776 0.1648 0.1183 0.1821 0.1626 0.0874 1.0000
0.1906 0.1862 0.1125 0.0265 0.1585 0.2125 0.0411 0.0721 1.0000
0.1403 0.0294 0.1694 0.1775 0.0693 0.1340 0.1371 0.1429 1.0000
0.2582 0.0017 0.0543 0.0513 0.0731 0.2346 0.2346 0.0922 1.0000
0.0246 0.1981 0.0501 0.1481 0.0507 0.1616 0.0707 0.2961 1.0000
0.1679 0.0933 0.0952 0.1670 0.1280 0.1435 0.0539 0.1511 1.0000
0.0580 0.1022 0.2470 0.0311 0.0879 0.2680 0.0198 0.1860 1.0000
0.0794 0.1087 0.2017 0.0596 0.0658 0.1954 0.1085 0.1809 1.0000
0.1490 0.1190 0.1099 0.1025 0.0760 0.2431 0.1763 0.0242 1.0000
0.2215 0.2050 0.0193 0.1124 0.1335 0.0478 0.0327 0.2278 1.0000
0.1814 0.1552 0.0247 0.1619 0.1968 0.1763 0.0367 0.0669 1.0000
0.0558 0.2383 0.0645 0.0678 0.1101 0.1788 0.0644 0.2204 1.0000
0.2001 0.1006 0.0968 0.2228 0.0383 0.0687 0.0935 0.1791 1.0000
0.0018 0.0135 0.1555 0.2921 0.2955 0.0102 0.1545 0.0769 1.0000
0.2003 0.0072 0.2675 0.2656 0.0902 0.1400 0.0160 0.0131 1.0000
0.1075 0.0592 0.1507 0.0755 0.2693 0.1924 0.1204 0.0252 1.0000
0.1369 0.1731 0.0602 0.0931 0.2184 0.1266 0.1264 0.0653 1.0000
0.2229 0.0007 0.0720 0.1236 0.1146 0.1265 0.1417 0.1981 1.0000
0.1347 0.0745 0.1151 0.1593 0.1927 0.0890 0.1401 0.0947 1.0000
0.0525 0.0873 0.1766 0.1686 0.0050 0.1917 0.1457 0.1727 1.0000
0.1311 0.0186 0.1423 0.0278 0.1490 0.1910 0.1880 0.1523 1.0000
0.0165 0.0720 0.2739 0.0717 0.2861 0.1329 0.1304 0.0166 1.0000
0.1329 0.0336 0.0649 0.2245 0.0143 0.1786 0.0428 0.3084 1.0000
0.0888 0.1616 0.2197 0.1592 0.1859 0.0458 0.0310 0.1081 1.0000
0.1839 0.0150 0.0559 0.0383 0.2337 0.2340 0.0276 0.2116 1.0000
0.0398 0.2149 0.1718 0.1116 0.1373 0.1909 0.0297 0.1039 1.0000
0.0524 0.1300 0.2494 0.0253 0.0470 0.2222 0.1434 0.1304 1.0000
0.0482 0.2106 0.1574 0.2049 0.0137 0.0359 0.2477 0.0815 1.0000
0.1399 0.1369 0.2037 0.1310 0.0120 0.1152 0.0768 0.1845 1.0000
0.0149 0.1921 0.2070 0.1327 0.0188 0.1890 0.1523 0.0931 1.0000
0.1696 0.1362 0.0214 0.1687 0.1376 0.0859 0.1682 0.1124 1.0000

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 68


Teoría Financiera y Costo de Capital

0.0003 0.1444 0.1799 0.1153 0.1790 0.1764 0.1522 0.0525 1.0000


0.2142 0.1859 0.0562 0.0314 0.0213 0.1991 0.1659 0.1261 1.0000
0.0397 0.1695 0.1435 0.1655 0.1156 0.1445 0.1734 0.0482 1.0000
0.4050 0.0300 0.0261 0.0200 0.2190 0.2189 0.0331 0.0479 1.0000
0.0359 0.0533 0.1620 0.1526 0.0546 0.2194 0.1083 0.2138 1.0000
0.1868 0.0254 0.2156 0.2459 0.1421 0.0645 0.0077 0.1122 1.0000
0.2065 0.1844 0.2168 0.0275 0.1451 0.0101 0.1321 0.0776 1.0000
0.1434 0.1298 0.1717 0.0115 0.0200 0.1949 0.1493 0.1794 1.0000
0.2055 0.0996 0.1622 0.1350 0.0010 0.0838 0.1154 0.1976 1.0000
0.0818 0.1895 0.2041 0.1215 0.1690 0.0821 0.0938 0.0583 1.0000
0.1896 0.0367 0.1956 0.0886 0.1878 0.1842 0.1162 0.0013 1.0000
0.1044 0.2394 0.1589 0.1073 0.2524 0.0130 0.0613 0.0633 1.0000
0.0138 0.1793 0.0850 0.2198 0.1568 0.0924 0.0955 0.1575 1.0000
0.2929 0.1447 0.0675 0.1205 0.1846 0.0438 0.0733 0.0727 1.0000
0.1990 0.0996 0.1885 0.2666 0.0338 0.0352 0.1173 0.0601 1.0000
0.1744 0.1197 0.1204 0.1920 0.1089 0.0605 0.1906 0.0336 1.0000
0.0366 0.1626 0.2608 0.0295 0.0407 0.1369 0.2829 0.0501 1.0000
0.1970 0.0200 0.1807 0.1295 0.1357 0.1928 0.1175 0.0268 1.0000
0.2480 0.0342 0.1186 0.1240 0.1802 0.1693 0.0291 0.0965 1.0000
0.1049 0.0038 0.1748 0.2141 0.2134 0.0797 0.2009 0.0085 1.0000
0.2110 0.0325 0.1584 0.0265 0.0772 0.1906 0.1643 0.1395 1.0000
0.1111 0.0190 0.0530 0.0755 0.1516 0.2640 0.2020 0.1237 1.0000
0.0633 0.2152 0.0654 0.0821 0.2173 0.1268 0.0216 0.2082 1.0000
0.0861 0.2049 0.0651 0.0869 0.2116 0.0201 0.1405 0.1847 1.0000
0.0493 0.0040 0.1745 0.1994 0.1955 0.1403 0.0511 0.1860 1.0000
0.1422 0.1289 0.0992 0.0232 0.2027 0.0797 0.1041 0.2200 1.0000
0.1723 0.1412 0.2121 0.0377 0.1128 0.1492 0.0440 0.1307 1.0000
0.0044 0.2919 0.0823 0.0300 0.1274 0.0309 0.2184 0.2146 1.0000
0.1148 0.2076 0.0817 0.1525 0.1938 0.0490 0.1984 0.0021 1.0000
0.0272 0.2213 0.0033 0.0598 0.2205 0.0381 0.2869 0.1429 1.0000
0.1261 0.0240 0.1500 0.1486 0.1406 0.1542 0.0929 0.1636 1.0000
0.1298 0.1468 0.1237 0.0265 0.1575 0.1635 0.1485 0.1037 1.0000
0.1354 0.1390 0.0491 0.1819 0.0163 0.1890 0.1880 0.1014 1.0000
0.1470 0.0086 0.2358 0.0202 0.0723 0.0871 0.1989 0.2300 1.0000
0.1713 0.0864 0.0863 0.1457 0.1556 0.1046 0.2323 0.0179 1.0000
0.0736 0.0246 0.0587 0.2329 0.2421 0.2131 0.1491 0.0059 1.0000
0.1513 0.1550 0.0974 0.1205 0.0409 0.1570 0.1986 0.0792 1.0000
0.1712 0.0409 0.0548 0.0961 0.2451 0.0027 0.2151 0.1741 1.0000
0.0412 0.2991 0.2327 0.0029 0.2412 0.0119 0.1105 0.0606 1.0000

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 69


Teoría Financiera y Costo de Capital

0.0753 0.2379 0.0201 0.1059 0.1933 0.0952 0.0981 0.1742 1.0000


0.2388 0.0646 0.2099 0.0234 0.0214 0.1093 0.1565 0.1760 1.0000
0.1690 0.1479 0.1165 0.0622 0.0900 0.0915 0.1832 0.1399 1.0000
0.0020 0.1935 0.0515 0.1993 0.1377 0.0832 0.2048 0.1279 1.0000
0.1149 0.0128 0.0830 0.2005 0.0124 0.2069 0.1621 0.2075 1.0000
0.1533 0.1029 0.1782 0.1308 0.0785 0.2126 0.0931 0.0506 1.0000
0.1714 0.0246 0.2265 0.0132 0.0209 0.1318 0.1502 0.2614 1.0000
0.1275 0.0614 0.2303 0.0364 0.1001 0.2157 0.1039 0.1246 1.0000
0.0300 0.0793 0.0065 0.0782 0.2229 0.2182 0.2247 0.1403 1.0000
0.1077 0.1991 0.0265 0.1018 0.1505 0.0952 0.1463 0.1729 1.0000
0.2414 0.0355 0.0337 0.1219 0.2549 0.0266 0.1875 0.0985 1.0000
0.1696 0.0763 0.0168 0.1500 0.2359 0.0854 0.2397 0.0264 1.0000
0.0206 0.0708 0.1968 0.1437 0.0107 0.1693 0.1576 0.2306 1.0000
0.0420 0.1958 0.1869 0.0306 0.0983 0.1707 0.0876 0.1881 1.0000
0.1292 0.2143 0.1342 0.0797 0.1313 0.1042 0.0876 0.1197 1.0000
0.0386 0.0525 0.0351 0.2626 0.2291 0.0316 0.1079 0.2425 1.0000
0.0989 0.0021 0.1857 0.0718 0.1715 0.0902 0.2029 0.1770 1.0000
0.1401 0.1122 0.1501 0.1000 0.1545 0.1540 0.1701 0.0190 1.0000
0.1406 0.1641 0.0024 0.1340 0.1341 0.1140 0.1583 0.1524 1.0000
0.1864 0.0016 0.0378 0.1094 0.1380 0.1818 0.1460 0.1990 1.0000
0.0938 0.1397 0.0669 0.1511 0.1551 0.0855 0.1494 0.1585 1.0000
0.1273 0.3186 0.0447 0.0288 0.0473 0.1462 0.2247 0.0624 1.0000
0.1450 0.1900 0.1794 0.1706 0.0086 0.1530 0.1354 0.0179 1.0000
0.0927 0.0272 0.1761 0.1794 0.0661 0.0965 0.1740 0.1880 1.0000
0.1409 0.1663 0.1549 0.0524 0.1936 0.0611 0.0519 0.1789 1.0000
0.0947 0.3206 0.0990 0.0350 0.0223 0.0935 0.0476 0.2872 1.0000
0.0598 0.0907 0.0526 0.0678 0.2384 0.0121 0.3366 0.1419 1.0000
0.1083 0.2074 0.0476 0.1969 0.1121 0.1012 0.1588 0.0677 1.0000
0.1176 0.0104 0.0632 0.1919 0.2031 0.2025 0.1511 0.0603 1.0000
0.2093 0.0687 0.1867 0.1634 0.1587 0.0748 0.0060 0.1323 1.0000
0.0324 0.2414 0.0087 0.0084 0.1786 0.0837 0.1801 0.2667 1.0000
0.1980 0.0594 0.0433 0.1945 0.2079 0.1651 0.0011 0.1306 1.0000
0.0573 0.2064 0.1862 0.0742 0.1497 0.2026 0.0735 0.0502 1.0000
0.3137 0.2567 0.0836 0.0248 0.0181 0.0190 0.1475 0.1366 1.0000
0.2593 0.1350 0.0658 0.0547 0.1997 0.0130 0.2331 0.0393 1.0000
0.2220 0.0985 0.0969 0.1778 0.1617 0.0705 0.1548 0.0178 1.0000
0.0607 0.1594 0.0390 0.2268 0.1295 0.0300 0.1885 0.1660 1.0000
0.1285 0.0770 0.0264 0.1836 0.1862 0.1565 0.1053 0.1364 1.0000
0.0305 0.1134 0.1398 0.0346 0.1157 0.1001 0.3588 0.1071 1.0000

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 70


Teoría Financiera y Costo de Capital

stimación Aleatoria

TSLA AMZN BAP INRETAIL BVN KO AAPL ETF SPY Total


w1 w2 w3 w4 w5 w6 w7 w8
0.9073 0.6170 0.5703 0.7395 0.1868 0.7538 0.9518 0.2971 5.0237
0.9267 0.1586 0.2861 0.3897 0.4390 0.3962 0.3018 0.9347 3.8329
0.7942 0.3243 0.9981 0.0555 0.8809 0.1078 0.4200 0.3249 3.9057
0.3988 0.7205 0.0632 0.5150 0.5423 0.1448 0.9484 0.7086 4.0416
0.8812 0.3228 0.0641 0.9523 0.8599 0.2319 0.3399 0.8200 4.4720
0.5878 0.2393 0.1292 0.2361 0.5672 0.0790 0.7938 0.7913 3.4236
0.5673 0.0243 0.2848 0.0905 0.7406 0.7263 0.2229 0.0349 2.6916
0.6714 0.0957 0.4317 0.7209 0.8097 0.8101 0.3793 0.2295 4.1483
0.0028 0.5888 0.8768 0.7788 0.8945 0.8533 0.4007 0.0979 4.4936
0.3339 0.8930 0.1432 0.1822 0.2556 0.7251 0.7458 0.0929 3.3718
0.9035 0.4912 0.3869 0.1817 0.5313 0.0243 0.2046 0.2485 2.9722
0.5924 0.3547 0.1417 0.9819 0.8278 0.5773 0.0661 0.9530 4.4949
0.9958 0.4012 0.4087 0.2442 0.2008 0.7374 0.6327 0.3889 4.0097
0.1591 0.7066 0.6904 0.3609 0.6164 0.7295 0.9499 0.2750 4.4878
0.7947 0.9605 0.1710 0.5883 0.1905 0.3999 0.0837 0.2726 3.4612
0.2355 0.3375 0.9899 0.1004 0.3059 0.7281 0.9352 0.6172 4.2498
0.5430 0.2630 0.5019 0.7878 0.6817 0.7034 0.8245 0.0355 4.3408
0.6403 0.5302 0.3157 0.5267 0.3591 0.4619 0.9484 0.1927 3.9749
0.4103 0.5639 0.2368 0.3511 0.4665 0.4478 0.1642 0.2407 2.8813
0.2452 0.5040 0.6100 0.2227 0.4666 0.1110 0.8031 0.5391 3.5017
0.8217 0.2797 0.5300 0.1858 0.9963 0.9821 0.1620 0.9094 4.8671
0.3695 0.0571 0.4750 0.0190 0.3100 0.5043 0.9510 0.0657 2.7517
0.7125 0.8502 0.2356 0.6007 0.6518 0.8656 0.8623 0.5600 5.3387
0.7364 0.5120 0.9343 0.1381 0.7046 0.3036 0.8449 0.4030 4.5770
0.5909 0.3319 0.8345 0.1866 0.3635 0.9927 0.6870 0.5514 4.5386
0.5484 0.7367 0.6585 0.8190 0.3982 0.8945 0.5290 0.8579 5.4421
0.9945 0.4230 0.9344 0.2950 0.1814 0.1693 0.6925 0.4365 4.1266
0.1949 0.8126 0.1127 0.9509 0.8973 0.3229 0.0710 0.9885 4.3506
0.0992 0.2975 0.0227 0.6346 0.2944 0.6970 0.3622 0.4473 2.8548
0.4883 0.7879 0.4001 0.8435 0.8289 0.7062 0.3683 0.5883 5.0116
0.3606 0.2660 0.1068 0.8602 0.5683 0.6821 0.5346 0.8333 4.2121
0.9054 0.7795 0.2681 0.2705 0.7636 0.5179 0.1809 0.5188 4.2045
0.1805 0.5987 0.5522 0.4457 0.4129 0.1955 0.2294 0.3252 2.9402
0.5007 0.5321 0.9631 0.5925 0.4415 0.5691 0.5068 0.3066 4.4125

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 71


Teoría Financiera y Costo de Capital

0.8340 0.8151 0.0572 0.3551 0.6911 0.0442 0.3005 0.8320 3.9292


0.3532 0.5400 0.1638 0.8222 0.6841 0.5413 0.8195 0.0509 3.9750
0.2296 0.0671 0.1768 0.7297 0.8778 0.2965 0.5789 0.3230 3.2795
0.2570 0.0983 0.7829 0.9558 0.0036 0.7878 0.2479 0.1638 3.2970
0.5187 0.5594 0.8529 0.0911 0.9652 0.0012 0.0080 0.3656 3.3621
0.1436 0.9805 0.9846 0.4446 0.9101 0.3409 0.7182 0.8280 5.3505
0.4958 0.1462 0.3635 0.3096 0.7741 0.8034 0.1964 0.6637 3.7528
0.2157 0.3758 0.8860 0.5226 0.0697 0.0294 0.1051 0.7478 2.9522
0.7011 0.8757 0.2587 0.9565 0.1199 0.3133 0.6553 0.8411 4.7215
0.0761 0.4280 0.2885 0.8435 0.7053 0.4776 0.7372 0.4693 4.0257
0.5631 0.8678 0.6984 0.6389 0.0457 0.7184 0.5948 0.7080 4.8352
0.3044 0.6963 0.3517 0.7230 0.2794 0.7384 0.1355 0.8799 4.1086
0.2405 0.9429 0.6503 0.3271 0.0937 0.0002 0.8470 0.2995 3.4011
0.5417 0.5779 0.1932 0.7022 0.5101 0.8055 0.2997 0.9191 4.5492
0.9637 0.5457 0.1360 0.7270 0.0102 0.6657 0.1853 0.4746 3.7082
0.3264 0.1595 0.6031 0.2843 0.9819 0.0842 0.1590 0.9305 3.5290
0.8237 0.9098 0.8649 0.3213 0.9795 0.3630 0.1295 0.9835 5.3753
0.2801 0.3181 0.4943 0.3171 0.4576 0.1084 0.4191 0.3812 2.7759
0.3281 0.2766 0.9492 0.2293 0.3868 0.6252 0.1330 0.9602 3.8885
0.9091 0.0285 0.0166 0.4136 0.9288 0.0625 0.5179 0.1535 3.0304
0.8088 0.2215 0.9873 0.6585 0.9461 0.5874 0.7470 0.0278 4.9843
0.1574 0.9418 0.8149 0.5587 0.8460 0.7455 0.6585 0.9024 5.6252
0.8926 0.8768 0.4984 0.8986 0.6703 0.8809 0.2055 0.8442 5.7674
0.6406 0.0728 0.1852 0.8730 0.0075 0.6102 0.1342 0.5802 3.1037
0.2560 0.5507 0.9953 0.5427 0.0305 0.1299 0.0908 0.0976 2.6935
0.1063 0.4439 0.8461 0.2959 0.5744 0.5070 0.0246 0.8496 3.6478
0.7356 0.8901 0.5352 0.7373 0.0702 0.3468 0.0802 0.1703 3.5657
0.7415 0.6594 0.0403 0.2654 0.0297 0.2642 0.8440 0.2648 3.1093
0.1575 0.0683 0.7553 0.8435 0.9168 0.2382 0.6390 0.8973 4.5159
0.7795 0.1335 0.8247 0.5125 0.6730 0.2083 0.4111 0.6198 4.1624
0.9345 0.0658 0.6930 0.8621 0.0159 0.9457 0.9564 0.7646 5.2381
0.1071 0.9193 0.6985 0.8772 0.9715 0.0431 0.7623 0.1238 4.5028
0.7278 0.2972 0.6061 0.0911 0.9680 0.5557 0.6195 0.0964 3.9617
0.9926 0.6293 0.1696 0.2562 0.9604 0.2002 0.8118 0.2107 4.2308
0.7682 0.0812 0.6406 0.6140 0.6716 0.6985 0.3057 0.2583 4.0382
0.6525 0.4428 0.5258 0.9151 0.6195 0.3907 0.8766 0.9297 5.3528
0.9564 0.0352 0.9818 0.4788 0.1780 0.0040 0.8944 0.8892 4.4179
0.2567 0.9006 0.3947 0.2015 0.9683 0.3632 0.9006 0.0380 4.0236
0.4136 0.6592 0.1659 0.2590 0.1867 0.5080 0.7920 0.5041 3.4885

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 72


Teoría Financiera y Costo de Capital

0.7888 0.0730 0.3688 0.4100 0.4701 0.5635 0.5953 0.0182 3.2878


0.7167 0.2881 0.4813 0.2209 0.5308 0.8324 0.0259 0.8169 3.9130
0.3402 0.2034 0.7283 0.0489 0.6932 0.6124 0.8295 0.3594 3.8152
0.4663 0.6188 0.5050 0.9108 0.0834 0.1889 0.2266 0.1602 3.1600
0.5130 0.9790 0.3994 0.0045 0.4137 0.8166 0.1156 0.3422 3.5841
0.9129 0.4524 0.0882 0.0782 0.1862 0.5461 0.4496 0.0856 2.7992
0.5800 0.1800 0.2571 0.9765 0.8898 0.5098 0.6836 0.4120 4.4887
0.5100 0.5368 0.5857 0.2023 0.8970 0.1563 0.0910 0.8872 3.8663
0.4290 0.8181 0.1197 0.7069 0.0005 0.8476 0.6521 0.1010 3.6748
0.1072 0.3058 0.6193 0.8697 0.2374 0.3892 0.1569 0.5974 3.2829
0.8901 0.0360 0.8765 0.6481 0.7462 0.0763 0.9836 0.3033 4.5600
0.3807 0.4753 0.4750 0.3951 0.6642 0.1305 0.4111 0.2069 3.1388
0.5479 0.5669 0.5155 0.4053 0.0128 0.5230 0.6350 0.7157 3.9221
0.3113 0.8026 0.5895 0.9728 0.7027 0.3534 0.4412 0.5594 4.7330
0.3899 0.5287 0.1686 0.9007 0.1120 0.3210 0.0973 0.7313 3.2494
0.8987 0.6397 0.8178 0.9957 0.3145 0.9096 0.2784 0.4901 5.3445
0.3689 0.5886 0.6124 0.6750 0.7269 0.6094 0.3163 0.9013 4.7989
0.2791 0.1171 0.1135 0.1518 0.9235 0.6554 0.1611 0.3297 2.7312
0.8078 0.4361 0.8795 0.5315 0.1677 0.2233 0.5527 0.0659 3.6645
0.1611 0.3174 0.0373 0.2156 0.6678 0.6656 0.5795 0.6135 3.2576
0.1710 0.8066 0.8156 0.0993 0.3236 0.6650 0.2181 0.2687 3.3679
0.4148 0.3448 0.8983 0.1033 0.0523 0.6013 0.6350 0.0276 3.0774
0.6393 0.5539 0.9339 0.0520 0.7680 0.5668 0.2381 0.4880 4.2401
0.0509 0.2152 0.1306 0.2474 0.9111 0.0589 0.6755 0.3321 2.6218
0.0850 0.0233 0.2478 0.1044 0.2708 0.8228 0.0208 0.6868 2.2619
0.2657 0.2785 0.5481 0.9960 0.7136 0.5246 0.4016 0.0086 3.7368
0.0115 0.4886 0.1009 0.4618 0.2525 0.7091 0.3677 0.8895 3.2818
0.6533 0.3250 0.8267 0.6333 0.2460 0.3966 0.5025 0.8875 4.4710
0.8202 0.7419 0.9475 0.9443 0.5208 0.3992 0.9930 0.1651 5.5319
0.2532 0.9074 0.9607 0.0178 0.0572 0.6431 0.5466 0.1515 3.5374
0.7300 0.2194 0.8418 0.5582 0.8267 0.4693 0.0907 0.0017 3.7378
0.1814 0.6762 0.7629 0.2486 0.9745 0.1594 0.0511 0.3795 3.4337
0.6594 0.1871 0.2628 0.6838 0.8765 0.6170 0.6554 0.0927 4.0347
0.6483 0.1957 0.3187 0.3370 0.3908 0.7061 0.9840 0.1221 3.7027
0.2615 0.0032 0.9598 0.8238 0.8770 0.2869 0.3223 0.1237 3.6582
0.2180 0.4223 0.6113 0.1416 0.3728 0.6589 0.1128 0.3934 2.9311
0.6111 0.9047 0.0485 0.3832 0.8461 0.0838 0.3558 0.9252 4.1584
0.7927 0.9298 0.3529 0.0584 0.4633 0.7167 0.3992 0.2090 3.9220
0.2654 0.5976 0.4296 0.7044 0.7043 0.6072 0.7640 0.5888 4.6612

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 73


Teoría Financiera y Costo de Capital

0.2020 0.8604 0.7361 0.2119 0.4965 0.0763 0.2612 0.8873 3.7316


0.3001 0.4060 0.4117 0.3467 0.1682 0.8946 0.2838 0.4815 3.2926
0.5438 0.9133 0.8421 0.0502 0.5842 0.9194 0.2438 0.4590 4.5558
0.5101 0.9996 0.9194 0.8946 0.6187 0.5291 0.9346 0.0335 5.4394
0.4485 0.6325 0.2473 0.6939 0.6686 0.0755 0.9334 0.7467 4.4464
0.0370 0.5472 0.8149 0.8572 0.9675 0.9542 0.3896 0.2768 4.8443
0.4843 0.8041 0.2941 0.8651 0.9152 0.0968 0.0407 0.0037 3.5041
0.9543 0.4657 0.8998 0.4351 0.8749 0.0398 0.3542 0.5103 4.5342
0.4393 0.2668 0.5368 0.8932 0.8010 0.4683 0.7916 0.4347 4.6316
0.3904 0.0968 0.0253 0.2284 0.4364 0.5899 0.1717 0.5602 2.4989
0.7684 0.4903 0.1477 0.1505 0.9591 0.8921 0.6677 0.8746 4.9504
0.8546 0.5573 0.9675 0.0540 0.9043 0.4023 0.2417 0.3979 4.3796
0.5125 0.5875 0.0560 0.9762 0.6811 0.4128 0.9675 0.6641 4.8577
0.2130 0.5457 0.5896 0.7604 0.0987 0.6133 0.9157 0.3511 4.0875
0.8600 0.7930 0.5109 0.6740 0.4112 0.0343 0.2888 0.1480 3.7202
0.7484 0.7028 0.4493 0.3156 0.7689 0.6699 0.8383 0.4802 4.9736
0.7278 0.7056 0.5168 0.8914 0.5388 0.2553 0.6065 0.7210 4.9630
0.7360 0.8717 0.7751 0.2955 0.4676 0.3015 0.3356 0.4901 4.2731
0.7477 0.1293 0.2672 0.4267 0.2668 0.0266 0.9432 0.9179 3.7255
0.4913 0.7410 0.8084 0.8753 0.0441 0.2878 0.4137 0.6101 4.2717
0.0191 0.8041 0.0897 0.6928 0.5262 0.9131 0.5014 0.5474 4.0938
0.9719 0.8950 0.9544 0.7143 0.2250 0.0015 0.3177 0.3098 4.3896
0.9076 0.9517 0.1748 0.6303 0.4468 0.6641 0.2044 0.6715 4.6513
0.4549 0.5994 0.2345 0.5254 0.8955 0.8037 0.3198 0.5338 4.3669
0.5159 0.0146 0.8892 0.6922 0.0463 0.3899 0.9400 0.4783 3.9663
0.9427 0.8805 0.0458 0.5807 0.3922 0.5753 0.3962 0.7385 4.5517
0.1498 0.7005 0.8580 0.2174 0.2700 0.2953 0.2946 0.0419 2.8276
0.8975 0.1151 0.7050 0.5245 0.9366 0.4508 0.7056 0.8333 5.1685
0.2245 0.9640 0.9586 0.3865 0.3960 0.0862 0.7349 0.5984 4.3491
0.8474 0.5164 0.6450 0.3589 0.6721 0.4677 0.5168 0.0225 4.0468
0.2771 0.6833 0.6936 0.0388 0.3319 0.1070 0.6180 0.8743 3.6239
0.1016 0.4645 0.3390 0.0069 0.6785 0.8804 0.0217 0.3757 2.8683
0.2262 0.0195 0.3693 0.6377 0.0030 0.2757 0.8013 0.3349 2.6675
0.2154 0.4881 0.8713 0.0856 0.5860 0.0161 0.3674 0.5332 3.1632
0.1969 0.2049 0.2111 0.0413 0.1630 0.7638 0.0143 0.3473 1.9427
0.2659 0.2078 0.4728 0.4033 0.8170 0.6926 0.7544 0.5931 4.2068
0.4387 0.1880 0.7849 0.1510 0.4901 0.2900 0.1349 0.6787 3.1563
0.5065 0.7232 0.5356 0.9981 0.2721 0.9195 0.8226 0.8430 5.6205
0.9206 0.3664 0.3400 0.5681 0.0566 0.4292 0.6395 0.2230 3.5433

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 74


Teoría Financiera y Costo de Capital

0.7890 0.9672 0.7724 0.6794 0.7497 0.4625 0.6214 0.8557 5.8972


0.6043 0.9690 0.0940 0.8290 0.4596 0.2235 0.6266 0.9097 4.7156
0.8959 0.0413 0.4123 0.8038 0.3474 0.9311 0.2253 0.4106 4.0677
0.2718 0.0886 0.7809 0.9651 0.7352 0.1707 0.7140 0.6422 4.3685
0.5745 0.7081 0.0674 0.6917 0.8075 0.8595 0.9474 0.9587 5.6148
0.6863 0.4516 0.7085 0.2425 0.3761 0.7700 0.0467 0.0471 3.3287
0.2847 0.5018 0.3558 0.1762 0.9503 0.9975 0.6053 0.1974 4.0689
0.7074 0.6991 0.3537 0.2428 0.2446 0.5954 0.2112 0.7650 3.8193
0.0104 0.5861 0.7678 0.6427 0.8221 0.9622 0.1493 0.4697 4.4103
0.4638 0.2543 0.4972 0.5373 0.4327 0.9866 0.0331 0.3824 3.5874
0.5610 0.1181 0.7317 0.5514 0.7830 0.9309 0.5476 0.9426 5.1663
0.1061 0.6480 0.7836 0.6264 0.2038 0.1034 0.9693 0.7243 4.1649
0.3636 0.0444 0.8510 0.6256 0.0547 0.9778 0.6384 0.8902 4.4457
0.4592 0.9884 0.3961 0.2677 0.8547 0.6592 0.4559 0.4096 4.4908
0.3771 0.6015 0.2044 0.2706 0.1442 0.0783 0.5696 0.8251 3.0709
0.0062 0.5580 0.1647 0.2149 0.4372 0.6549 0.7866 0.5467 3.3691
0.0680 0.9006 0.1223 0.2501 0.8537 0.7958 0.4534 0.4690 3.9129
0.5149 0.4398 0.9266 0.1315 0.6704 0.2221 0.4381 0.0855 3.4289
0.1066 0.3856 0.8262 0.6968 0.9159 0.9412 0.3220 0.8036 4.9979
0.6549 0.2001 0.8362 0.4982 0.1295 0.3377 0.9522 0.9863 4.5950
0.8658 0.1678 0.0581 0.9501 0.4254 0.6465 0.5289 0.3204 3.9629
0.8669 0.2983 0.9643 0.8324 0.4612 0.7635 0.9804 0.3081 5.4752
0.6784 0.1046 0.6525 0.9333 0.9300 0.7041 0.4947 0.4068 4.9043
0.3732 0.5545 0.0395 0.3327 0.1797 0.0266 0.9639 0.9441 3.4142
0.8812 0.7986 0.0672 0.8331 0.6303 0.2155 0.9349 0.3374 4.6982
0.6518 0.0131 0.4730 0.1642 0.8969 0.1142 0.9776 0.9220 4.2128
0.9144 0.2728 0.8323 0.8336 0.3571 0.2374 0.1620 0.0986 3.7081
0.7975 0.5767 0.1628 0.3928 0.3105 0.0314 0.6216 0.2440 3.1373
0.5021 0.7502 0.7618 0.5403 0.6242 0.3518 0.7094 0.0925 4.3324
0.3081 0.1613 0.2212 0.9458 0.3552 0.6249 0.0770 0.8394 3.5328
0.2565 0.9998 0.5600 0.0061 0.8180 0.6707 0.0150 0.7915 4.1177
0.0802 0.9736 0.0906 0.5406 0.7754 0.3133 0.2246 0.8444 3.8428
0.8118 0.5727 0.1482 0.1972 0.3711 0.9665 0.1127 0.1689 3.3490
0.5867 0.6908 0.5023 0.2663 0.2464 0.3770 0.7777 0.4620 3.9093
0.2080 0.7698 0.5005 0.8514 0.1410 0.4475 0.2802 0.6206 3.8190
0.0223 0.5856 0.4033 0.7154 0.5529 0.1650 0.3483 0.4463 3.2391
0.6136 0.7007 0.5604 0.4894 0.3904 0.5742 0.8825 0.7393 4.9506
0.1274 0.2678 0.2865 0.8358 0.2890 0.7668 0.2432 0.4750 3.2916
0.1065 0.7243 0.4277 0.7147 0.6302 0.5095 0.8503 0.9775 4.9407

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 75


Teoría Financiera y Costo de Capital

0.3095 0.5273 0.7047 0.9570 0.2349 0.9727 0.0340 0.3859 4.1261


0.4801 0.6175 0.1511 0.8655 0.0519 0.0602 0.8223 0.4577 3.5064
0.0294 0.0446 0.2528 0.2171 0.0169 0.9153 0.5870 0.5331 2.5962
0.6857 0.7064 0.4597 0.6271 0.2296 0.9502 0.2090 0.1217 3.9894
0.7471 0.3680 0.1080 0.1852 0.2707 0.3174 0.0674 0.6383 2.7020
0.0873 0.9774 0.6576 0.3492 0.5201 0.6259 0.8073 0.6326 4.6573
0.5839 0.6995 0.0992 0.4123 0.7986 0.6553 0.7756 0.2796 4.3040
0.3300 0.6816 0.2941 0.7103 0.6830 0.0761 0.2046 0.6408 3.6205
0.9622 0.3421 0.2966 0.2944 0.5701 0.4275 0.4661 0.1583 3.5174
0.5081 0.0671 0.1364 0.0724 0.4766 0.0132 0.4023 0.4740 2.1502
0.0974 0.2981 0.5068 0.6083 0.6313 0.2564 0.5378 0.5995 3.5358
0.6234 0.6858 0.7897 0.5215 0.7556 0.1418 0.8406 0.7257 5.0842
0.3546 0.6146 0.0918 0.4658 0.7707 0.9316 0.2139 0.1540 3.5970
0.6727 0.8258 0.3627 0.8288 0.1287 0.0485 0.9667 0.5951 4.4290
0.3838 0.7753 0.2921 0.2601 0.2844 0.3853 0.8028 0.1385 3.3224
0.5841 0.0562 0.1135 0.3911 0.3207 0.1896 0.5454 0.4616 2.6621
0.7483 0.0679 0.6953 0.3238 0.0186 0.6860 0.9258 0.5534 4.0192
0.3630 0.4708 0.4899 0.0026 0.1417 0.3420 0.9007 0.8648 3.5756
0.9900 0.3993 0.3381 0.3706 0.2439 0.0504 0.1541 0.5557 3.1021
0.6751 0.5705 0.6012 0.9514 0.5993 0.7166 0.3030 0.1959 4.6131
0.4077 0.9175 0.8735 0.5440 0.7309 0.7704 0.8602 0.6385 5.7429
0.1804 0.5712 0.6315 0.5185 0.2066 0.8983 0.0697 0.4650 3.5411
0.4875 0.7558 0.2969 0.5706 0.5326 0.3278 0.9647 0.8886 4.8246
0.0977 0.4663 0.7335 0.2141 0.7764 0.6510 0.6009 0.4745 4.0145
0.2890 0.0030 0.4460 0.5584 0.1905 0.8196 0.7362 0.2514 3.2940
0.0642 0.5987 0.0244 0.9278 0.5407 0.5906 0.6625 0.9714 4.3805
0.8521 0.2320 0.0585 0.5968 0.8215 0.3030 0.3251 0.8893 4.0781
0.2956 0.0297 0.1329 0.0389 0.7759 0.5927 0.2831 0.1590 2.3078
0.7952 0.8523 0.6248 0.2763 0.9793 0.3505 0.6046 0.1050 4.5881
0.6085 0.7290 0.2919 0.2279 0.2962 0.4728 0.6536 0.7295 4.0093
0.4048 0.7907 0.5399 0.3092 0.2231 0.5392 0.5369 0.8938 4.2374
0.3058 0.7283 0.5033 0.0288 0.1193 0.4039 0.6253 0.4816 3.1963
0.5221 0.8260 0.6908 0.3070 0.3626 0.3799 0.1745 0.4461 3.7090
0.8543 0.3238 0.6222 0.4611 0.8866 0.6758 0.2876 0.3087 4.4202
0.4314 0.8486 0.8938 0.6050 0.0455 0.4652 0.7350 0.8313 4.8559
0.6028 0.2594 0.8415 0.0009 0.7467 0.8338 0.8469 0.5073 4.6393
0.6202 0.6098 0.3262 0.8129 0.1422 0.5656 0.1554 0.8704 4.1026
0.0856 0.2489 0.5217 0.0866 0.9106 0.0476 0.5554 0.6511 3.1076
0.5502 0.1286 0.7151 0.6921 0.4637 0.3680 0.2397 0.7570 3.9146

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 76


Teoría Financiera y Costo de Capital

0.9396 0.9266 0.9134 0.6268 0.2402 0.3345 0.2291 0.7464 4.9567


0.2409 0.2790 0.1816 0.9615 0.8276 0.6065 0.6083 0.8848 4.5902
0.6533 0.9733 0.9175 0.1701 0.1982 0.1655 0.8550 0.9576 4.8904
0.5327 0.3558 0.7533 0.8331 0.8533 0.0608 0.6234 0.9716 4.9841
0.7362 0.9689 0.3305 0.4223 0.2552 0.4667 0.6011 0.4942 4.2752
0.5853 0.5628 0.8707 0.7112 0.9764 0.8854 0.7958 0.1412 5.5289
0.6807 0.8168 0.8799 0.7364 0.6381 0.5317 0.3966 0.4838 5.1640
0.5552 0.9148 0.4236 0.6000 0.2130 0.6617 0.1203 0.4866 3.9753
0.5959 0.5703 0.5893 0.7550 0.4056 0.5158 0.6839 0.2327 4.3486
0.5394 0.1833 0.3619 0.4589 0.8495 0.3400 0.3924 0.9263 4.0517
0.7660 0.3829 0.3718 0.1504 0.5952 0.9236 0.5598 0.7131 4.4627
0.3195 0.8467 0.9092 0.4816 0.2698 0.2836 0.4628 0.5915 4.1647
0.0287 0.4898 0.0972 0.9372 0.2302 0.3847 0.0469 0.7577 2.9724
0.5055 0.1113 0.9285 0.1218 0.6459 0.2790 0.3477 0.2622 3.2019
0.0450 0.3321 0.4643 0.2555 0.9014 0.4633 0.0388 0.8976 3.3980
0.6851 0.7206 0.4928 0.7194 0.8972 0.5309 0.3443 0.4262 4.8164
0.7201 0.3503 0.9645 0.3259 0.0884 0.8473 0.6163 0.2780 4.1907
0.1731 0.1712 0.5261 0.3510 0.1996 0.1473 0.3254 0.6103 2.5041
0.0440 0.6946 0.0179 0.9968 0.8486 0.4483 0.2527 0.5357 3.8385
0.9548 0.2647 0.0017 0.7279 0.4190 0.7964 0.9444 0.0638 4.1728
0.0739 0.0263 0.9533 0.6582 0.2258 0.6007 0.1185 0.8366 3.4934
0.9100 0.4505 0.3448 0.9687 0.3329 0.2696 0.4162 0.7144 4.4070
0.9386 0.2980 0.4673 0.2265 0.2017 0.4433 0.2674 0.3224 3.1652
0.1198 0.2606 0.1503 0.4039 0.9108 0.0803 0.9730 0.1966 3.0953
0.8581 0.9404 0.5259 0.5645 0.9273 0.1254 0.1662 0.5000 4.6077
0.2636 0.0634 0.8658 0.9051 0.6407 0.1110 0.9675 0.5148 4.3319
0.8553 0.2980 0.4133 0.7582 0.0637 0.8334 0.5383 0.4986 4.2588
0.5429 0.7374 0.6717 0.1870 0.2945 0.4300 0.2934 0.7026 3.8594
0.6732 0.9775 0.7399 0.3494 0.5115 0.3632 0.0441 0.4472 4.1061
0.9524 0.9000 0.7352 0.9938 0.7385 0.9798 0.9093 0.9433 7.1523
0.3134 0.7778 0.9801 0.2562 0.5435 0.5602 0.8611 0.8417 5.1339
0.2262 0.0831 0.8226 0.2225 0.2947 0.7194 0.7140 0.6342 3.7168
0.7218 0.2108 0.2694 0.1368 0.8546 0.8093 0.3662 0.8509 4.2198
0.9680 0.3347 0.9896 0.8309 0.8538 0.3401 0.4376 0.6033 5.3580
0.8955 0.0996 0.1380 0.8722 0.6443 0.3175 0.0878 0.5377 3.5926
0.6431 0.0104 0.5262 0.9620 0.0762 0.1717 0.9747 0.3450 3.7093
0.0998 0.4631 0.9016 0.4398 0.4974 0.7413 0.6217 0.2183 3.9831
0.3684 0.8333 0.7844 0.9147 0.8169 0.0340 0.4378 0.1504 4.3400
0.4945 0.8461 0.3104 0.7231 0.4330 0.1322 0.3013 0.3016 3.5422

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 77


Teoría Financiera y Costo de Capital

0.6810 0.6602 0.8909 0.3167 0.9896 0.2480 0.8926 0.5048 5.1837


0.9810 0.2037 0.3903 0.0297 0.5672 0.7389 0.5160 0.5781 4.0050
0.0995 0.5767 0.0714 0.9566 0.2700 0.4683 0.0886 0.1907 2.7217
0.8069 0.6906 0.7254 0.3961 0.0126 0.5727 0.0547 0.6078 3.8667
0.0908 0.8510 0.8032 0.3330 0.0484 0.3697 0.4510 0.4294 3.3765
0.2804 0.4773 0.0294 0.1917 0.5662 0.7967 0.6164 0.4898 3.4479
0.5452 0.2730 0.5963 0.2436 0.3519 0.5053 0.5280 0.4267 3.4699
0.1818 0.6633 0.6829 0.6219 0.8375 0.1319 0.7200 0.0276 3.8668
0.9734 0.3540 0.0064 0.5772 0.3921 0.7170 0.3887 0.1152 3.5240
0.1174 0.1445 0.7865 0.9761 0.1362 0.0388 0.6845 0.1753 3.0594
0.9589 0.8997 0.1181 0.9471 0.7277 0.1059 0.4462 0.0625 4.2661
0.3615 0.5908 0.1225 0.5871 0.6386 0.4332 0.8274 0.2551 3.8161
0.0716 0.6195 0.1897 0.9305 0.1628 0.7193 0.7413 0.4069 3.8416
0.8439 0.0948 0.2527 0.8442 0.4143 0.4261 0.9132 0.3027 4.0919
0.9480 0.6215 0.4660 0.4137 0.6470 0.6863 0.4495 0.9929 5.2250
0.9017 0.7660 0.6772 0.3350 0.2108 0.6046 0.7341 0.9224 5.1519
0.6154 0.2908 0.4517 0.5531 0.5294 0.2924 0.7720 0.8555 4.3604
0.1114 0.8829 0.2320 0.9054 0.6509 0.5801 0.4730 0.0129 3.8486
0.1665 0.1901 0.4214 0.3685 0.3525 0.1510 0.7782 0.9924 3.4207
0.3819 0.6668 0.2784 0.9698 0.2103 0.7348 0.4929 0.1061 3.8411
0.7636 0.1576 0.4373 0.5842 0.5781 0.4309 0.9012 0.0623 3.9151
0.5756 0.3147 0.8757 0.5704 0.9690 0.9434 0.1281 0.0202 4.3972
0.4363 0.9426 0.9345 0.9658 0.2017 0.3245 0.8673 0.7384 5.4110
0.6838 0.2001 0.2274 0.1933 0.3290 0.1458 0.0556 0.7485 2.5836
0.2171 0.7080 0.7617 0.9458 0.4397 0.3510 0.2180 0.4196 4.0608
0.4660 0.9785 0.1784 0.4648 0.3569 0.2611 0.7759 0.6178 4.0995
0.8595 0.7534 0.3617 0.4866 0.0625 0.7368 0.6175 0.0070 3.8850
0.7817 0.8146 0.2086 0.6090 0.2898 0.5110 0.9709 0.2751 4.4606
0.6183 0.8158 0.0179 0.4652 0.9887 0.5078 0.5775 0.3843 4.3756
0.4525 0.9244 0.5303 0.0350 0.6699 0.3478 0.9231 0.4490 4.3320
0.1469 0.0495 0.9072 0.6156 0.5658 0.3223 0.4097 0.8288 3.8459
0.3030 0.8806 0.3528 0.7852 0.0556 0.2616 0.0133 0.6902 3.3424
0.1669 0.6845 0.7384 0.5134 0.0736 0.7039 0.3055 0.7604 3.9465
0.7058 0.4520 0.6204 0.2203 0.6537 0.8749 0.7167 0.9441 5.1880
0.4076 0.6790 0.5128 0.9235 0.4422 0.6174 0.4384 0.1669 4.1878
0.3669 0.4465 0.4991 0.7842 0.0344 0.1182 0.1736 0.8627 3.2856
0.7917 0.0303 0.8899 0.9603 0.6682 0.3640 0.7600 0.2406 4.7050
0.1648 0.6633 0.2136 0.5819 0.5589 0.1397 0.8801 0.8291 4.0314
0.2520 0.1474 0.2718 0.9261 0.4315 0.4074 0.0479 0.8046 3.2886

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 78


Teoría Financiera y Costo de Capital

0.8745 0.0987 0.4061 0.3326 0.0919 0.6697 0.8445 0.3648 3.6828


0.4437 0.3282 0.9569 0.4070 0.3178 0.1011 0.2308 0.0965 2.8820
0.5404 0.1574 0.1252 0.0206 0.4108 0.3965 0.9607 0.7884 3.4001
0.2521 0.1931 0.2103 0.7167 0.8332 0.3446 0.3601 0.3836 3.2937
0.2391 0.7246 0.8679 0.1747 0.1259 0.7997 0.2677 0.5725 3.7722
0.3954 0.9770 0.1913 0.1764 0.5198 0.1641 0.4689 0.3284 3.2213
0.0440 0.5196 0.6265 0.3564 0.5291 0.7541 0.6197 0.5936 4.0432
0.5149 0.3831 0.6413 0.8438 0.4258 0.2590 0.0611 0.3388 3.4677
0.4877 0.6793 0.0613 0.9465 0.7707 0.4115 0.9711 0.9508 5.2789
0.0459 0.5590 0.1747 0.7495 0.5483 0.1531 0.3088 0.3333 2.8727
0.5499 0.7627 0.2892 0.8277 0.1601 0.8647 0.9103 0.4316 4.7962
0.9367 0.6139 0.9099 0.5444 0.8126 0.1287 0.2211 0.7126 4.8799
0.1122 0.6635 0.5997 0.6917 0.9728 0.9094 0.4632 0.8471 5.2596
0.5829 0.9566 0.1942 0.2948 0.6619 0.0196 0.3402 0.4035 3.4536
0.3980 0.6663 0.3688 0.3258 0.3447 0.5481 0.7344 0.7906 4.1766
0.4276 0.6620 0.2604 0.1265 0.4651 0.5743 0.3247 0.5617 3.4022
0.4509 0.9745 0.7349 0.4834 0.7076 0.3068 0.5296 0.4155 4.6032
0.3866 0.5812 0.1133 0.1927 0.5318 0.1845 0.3264 0.2377 2.5543
0.0513 0.4267 0.4193 0.5007 0.6504 0.0847 0.6929 0.0863 2.9123
0.4712 0.7417 0.0443 0.1589 0.7757 0.7234 0.2983 0.2070 3.4205
0.2653 0.5469 0.6890 0.4791 0.3786 0.6331 0.7765 0.0602 3.8285
0.7968 0.6119 0.2613 0.1605 0.2601 0.6725 0.3149 0.0510 3.1289
0.7750 0.6440 0.7309 0.5203 0.6918 0.1117 0.2310 0.4705 4.1752
0.5713 0.3617 0.4386 0.0872 0.9244 0.3252 0.1598 0.1759 3.0441
0.1852 0.9172 0.3671 0.3391 0.5541 0.2330 0.6693 0.9377 4.2027
0.7624 0.5428 0.5155 0.2982 0.3412 0.2795 0.4077 0.4040 3.5513
0.3181 0.6466 0.2282 0.9426 0.7981 0.5457 0.3293 0.9316 4.7402
0.6761 0.4198 0.9366 0.5724 0.8319 0.3401 0.1933 0.3096 4.2798
0.0312 0.2143 0.2547 0.4866 0.1487 0.8265 0.5132 0.3496 2.8246
0.3679 0.8271 0.4563 0.1086 0.8289 0.6018 0.1510 0.7904 4.1320
0.2323 0.8814 0.2514 0.2392 0.6120 0.2748 0.6570 0.8650 4.0131
0.1104 0.0582 0.5454 0.8837 0.9425 0.6707 0.8799 0.9090 4.9996
0.5188 0.7919 0.3212 0.7969 0.3014 0.1451 0.4466 0.3353 3.6572
0.4321 0.8286 0.0396 0.5148 0.2135 0.6258 0.3727 0.6133 3.6405
0.4030 0.0369 0.2880 0.3838 0.2120 0.6685 0.5645 0.4476 3.0044
0.2766 0.4138 0.5364 0.6272 0.8176 0.7591 0.3112 0.5537 4.2958
0.3989 0.8678 0.1964 0.5629 0.7000 0.9289 0.3640 0.8383 4.8571
0.5782 0.4292 0.0283 0.2161 0.4849 0.3032 0.9136 0.1615 3.1150
0.3041 0.5333 0.2465 0.8584 0.0032 0.3322 0.2541 0.2905 2.8224

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 79


Teoría Financiera y Costo de Capital

0.0214 0.3209 0.2069 0.1570 0.3564 0.3692 0.8344 0.2736 2.5398


0.8244 0.0834 0.3505 0.0904 0.0983 0.9288 0.7875 0.3903 3.5535
0.2881 0.6660 0.4229 0.4516 0.1925 0.6678 0.1807 0.6412 3.5108
0.9496 0.7491 0.1539 0.5493 0.0527 0.2272 0.2681 0.9552 3.9051
0.3594 0.6944 0.7616 0.3868 0.2519 0.1354 0.1964 0.1538 2.9397
0.1820 0.2854 0.0782 0.8011 0.2236 0.3156 0.4081 0.3789 2.6729
0.6289 0.4735 0.4230 0.5120 0.4029 0.2213 0.8674 0.9668 4.4958
0.8288 0.1006 0.5422 0.2164 0.3801 0.5605 0.1376 0.4959 3.2620
0.7226 0.2874 0.8196 0.5299 0.8879 0.8193 0.9930 0.7717 5.8314
0.7415 0.0975 0.6503 0.5493 0.3777 0.9806 0.9736 0.0190 4.3894
0.3054 0.8255 0.4274 0.8795 0.2928 0.4753 0.6474 0.6950 4.5483
0.0050 0.3813 0.7399 0.8979 0.8926 0.3151 0.7592 0.8678 4.8588
0.9811 0.7389 0.3866 0.2258 0.0603 0.8826 0.6467 0.7356 4.6576
0.2358 0.4331 0.9628 0.6498 0.6884 0.6399 0.1425 0.8693 4.6216
0.2575 0.6260 0.7546 0.9362 0.7530 0.6867 0.3336 0.3292 4.6769
0.2012 0.1274 0.7995 0.3385 0.6745 0.2147 0.3010 0.4089 3.0657
0.6881 0.0200 0.1610 0.6380 0.5981 0.1368 0.7446 0.1093 3.0959
0.8143 0.5287 0.7808 0.3519 0.0627 0.1775 0.5093 0.1131 3.3382
0.8936 0.0286 0.9647 0.9873 0.8554 0.4859 0.4871 0.4287 5.1313
0.4681 0.0863 0.0578 0.7551 0.4123 0.1833 0.1996 0.3989 2.5614
0.4659 0.1506 0.7420 0.8569 0.7165 0.0191 0.8480 0.2632 4.0622
0.4408 0.2670 0.6088 0.3840 0.5178 0.8284 0.7196 0.6059 4.3724
0.8091 0.3075 0.2753 0.2001 0.3759 0.0052 0.4235 0.0887 2.4854
0.6683 0.7159 0.8702 0.2646 0.5461 0.5380 0.9858 0.2109 4.7999
0.3870 0.8224 0.4280 0.7005 0.2379 0.6042 0.8886 0.2386 4.3071
0.0146 0.1733 0.7596 0.9249 0.9778 0.2693 0.0949 0.0929 3.3072
0.4436 0.2542 0.6142 0.1939 0.6471 0.9770 0.1187 0.6090 3.8577
0.5170 0.2497 0.7315 0.8011 0.8981 0.3242 0.9697 0.0991 4.5904
0.2138 0.4930 0.6005 0.4403 0.0990 0.7030 0.5562 0.4920 3.5978
0.8733 0.8344 0.2293 0.9118 0.0637 0.6080 0.0402 0.4286 3.9892
0.9481 0.9614 0.1923 0.2230 0.5814 0.6956 0.1243 0.9282 4.6544
0.7780 0.7898 0.2785 0.5735 0.6795 0.3866 0.0048 0.8755 4.3662
0.2416 0.4598 0.7580 0.6333 0.5449 0.6204 0.2063 0.2188 3.6831
0.6355 0.7031 0.4396 0.4273 0.6424 0.6637 0.5801 0.9230 5.0148
0.6652 0.6053 0.3286 0.4677 0.8246 0.6443 0.8122 0.0887 4.4366
0.5339 0.0229 0.3960 0.9396 0.4949 0.9435 0.0874 0.1794 3.5976
0.0250 0.6540 0.9052 0.1160 0.7671 0.3309 0.8950 0.4822 4.1754
0.0615 0.2970 0.9615 0.8659 0.0551 0.2109 0.3153 0.0040 2.7712
0.8490 0.0515 0.9925 0.3639 0.2693 0.8397 0.0212 0.2016 3.5886

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 80


Teoría Financiera y Costo de Capital

0.0874 0.8537 0.3259 0.2883 0.1427 0.0372 0.2723 0.5010 2.5086


0.0399 0.7546 0.9317 0.8928 0.6433 0.1598 0.2634 0.7378 4.4233
0.1166 0.6330 0.6415 0.5648 0.8123 0.9504 0.9954 0.9200 5.6340
0.8051 0.6930 0.3235 0.8359 0.3288 0.5493 0.3735 0.2822 4.1913
0.1122 0.5964 0.1004 0.5599 0.3098 0.4703 0.5731 0.0646 2.7867
0.7177 0.2242 0.4200 0.6816 0.6640 0.3646 0.9246 0.8781 4.8748
0.8860 0.1869 0.4017 0.8536 0.6123 0.9431 0.8422 0.4524 5.1782
0.7659 0.7482 0.4520 0.1067 0.6368 0.8539 0.1651 0.2896 4.0181
0.7052 0.1480 0.8518 0.8922 0.3485 0.6737 0.6893 0.7184 5.0271
0.3909 0.0026 0.0822 0.0776 0.1106 0.3550 0.3550 0.1396 1.5136
0.0774 0.6227 0.1574 0.4657 0.1594 0.5082 0.2223 0.9309 3.1440
0.7993 0.4443 0.4535 0.7951 0.6094 0.6831 0.2568 0.7195 4.7611
0.1436 0.2531 0.6118 0.0771 0.2179 0.6641 0.0491 0.4608 2.4774
0.3722 0.5099 0.9459 0.2794 0.3083 0.9165 0.5087 0.8482 4.6891
0.5553 0.4435 0.4094 0.3818 0.2833 0.9061 0.6572 0.0901 3.7267
0.9719 0.8994 0.0848 0.4933 0.5859 0.2095 0.1434 0.9993 4.3876
0.8182 0.7000 0.1113 0.7305 0.8878 0.7952 0.1658 0.3017 4.5105
0.1813 0.7744 0.2097 0.2203 0.3577 0.5811 0.2093 0.7165 3.2503
0.8895 0.4470 0.4302 0.9902 0.1703 0.3052 0.4156 0.7961 4.4441
0.0034 0.0255 0.2948 0.5538 0.5602 0.0194 0.2929 0.1457 1.8957
0.6712 0.0242 0.8961 0.8900 0.3021 0.4691 0.0537 0.0438 3.3502
0.3143 0.1731 0.4406 0.2207 0.7875 0.5628 0.3520 0.0736 2.9245
0.4070 0.5146 0.1791 0.2769 0.6495 0.3764 0.3758 0.1942 2.9733
0.9986 0.0030 0.3225 0.5540 0.5134 0.5668 0.6348 0.8875 4.4806
0.6053 0.3346 0.5170 0.7158 0.8657 0.4000 0.6293 0.4254 4.4930
0.2056 0.3415 0.6911 0.6598 0.0195 0.7502 0.5701 0.6760 3.9137
0.6637 0.0943 0.7204 0.1406 0.7544 0.9671 0.9518 0.7709 5.0633
0.0478 0.2087 0.7933 0.2075 0.8285 0.3849 0.3775 0.0479 2.8962
0.3699 0.0936 0.1807 0.6248 0.0399 0.4972 0.1190 0.8583 2.7835
0.3848 0.7001 0.9523 0.6897 0.8055 0.1986 0.1343 0.4683 4.3335
0.7135 0.0581 0.2170 0.1486 0.9066 0.9080 0.1072 0.8208 3.8798
0.1259 0.6795 0.5433 0.3529 0.4341 0.6035 0.0939 0.3286 3.1619
0.1871 0.4645 0.8909 0.0904 0.1681 0.7938 0.5122 0.4658 3.5728
0.1945 0.8494 0.6348 0.8264 0.0553 0.1447 0.9987 0.3286 4.0323
0.6253 0.6114 0.9103 0.5853 0.0534 0.5147 0.3433 0.8242 4.4679
0.0617 0.7967 0.8585 0.5503 0.0781 0.7840 0.6317 0.3861 4.1472
0.9964 0.8001 0.1257 0.9912 0.8080 0.5044 0.9881 0.6600 5.8738
0.0019 0.7852 0.9781 0.6269 0.9732 0.9594 0.8277 0.2857 5.4382
0.9937 0.8622 0.2605 0.1458 0.0986 0.9235 0.7693 0.5848 4.6386

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 81


Teoría Financiera y Costo de Capital

0.2234 0.9531 0.8073 0.9306 0.6503 0.8128 0.9754 0.2710 5.6240


0.7969 0.0590 0.0513 0.0394 0.4308 0.4306 0.0652 0.0942 1.9676
0.1554 0.2303 0.7003 0.6599 0.2362 0.9485 0.4684 0.9242 4.3232
0.6816 0.0926 0.7867 0.8973 0.5186 0.2353 0.0279 0.4094 3.6493
0.9319 0.8321 0.9783 0.1240 0.6548 0.0455 0.5961 0.3504 4.5128
0.7110 0.6432 0.8513 0.0568 0.0991 0.9662 0.7399 0.8891 4.9567
0.8609 0.4172 0.6795 0.5656 0.0044 0.3512 0.4836 0.8278 4.1902
0.3666 0.8497 0.9149 0.5449 0.7576 0.3679 0.4204 0.2616 4.4836
0.8912 0.1726 0.9194 0.4163 0.8825 0.8657 0.5462 0.0059 4.6999
0.3564 0.8171 0.5421 0.3661 0.8615 0.0443 0.2091 0.2160 3.4125
0.0601 0.7818 0.3705 0.9586 0.6837 0.4027 0.4163 0.6865 4.3602
0.8763 0.4327 0.2019 0.3605 0.5523 0.1311 0.2192 0.2174 2.9915
0.7154 0.3581 0.6776 0.9585 0.1214 0.1265 0.4217 0.2162 3.5953
0.8461 0.5807 0.5840 0.9313 0.5281 0.2934 0.9245 0.1631 4.8513
0.1078 0.4786 0.7677 0.0867 0.1197 0.4029 0.8327 0.1474 2.9435
0.9092 0.0924 0.8340 0.5977 0.6264 0.8898 0.5422 0.1237 4.6154
0.8246 0.1137 0.3945 0.4123 0.5994 0.5630 0.0969 0.3210 3.3254
0.4872 0.0176 0.8115 0.9943 0.9910 0.3699 0.9327 0.0393 4.6435
0.9554 0.1471 0.7174 0.1201 0.3497 0.8629 0.7439 0.6319 4.5284
0.4160 0.0710 0.1985 0.2827 0.5674 0.9884 0.7564 0.4632 3.7435
0.2563 0.8710 0.2647 0.3322 0.8796 0.5130 0.0876 0.8428 4.0471
0.3988 0.9495 0.3019 0.4028 0.9808 0.0932 0.6511 0.8559 4.6341
0.2449 0.0199 0.8670 0.9909 0.9716 0.6970 0.2537 0.9240 4.9689
0.6416 0.5817 0.4477 0.1048 0.9147 0.3596 0.4697 0.9925 4.5123
0.6737 0.5522 0.8293 0.1476 0.4413 0.5833 0.1721 0.5112 3.9107
0.0151 0.9978 0.2812 0.1027 0.4356 0.1057 0.7466 0.7336 3.4183
0.4939 0.8935 0.3517 0.6564 0.8341 0.2111 0.8537 0.0092 4.3037
0.0756 0.6161 0.0092 0.1663 0.6137 0.1061 0.7986 0.3979 2.7834
0.6873 0.1307 0.8179 0.8100 0.7664 0.8408 0.5065 0.8916 5.4513
0.7809 0.8828 0.7440 0.1596 0.9477 0.9834 0.8936 0.6235 6.0156
0.6900 0.7084 0.2500 0.9274 0.0830 0.9636 0.9581 0.5167 5.0973
0.6124 0.0357 0.9823 0.0842 0.3014 0.3630 0.8286 0.9583 4.1659
0.6822 0.3442 0.3437 0.5803 0.6196 0.4167 0.9252 0.0711 3.9831
0.2888 0.0966 0.2301 0.9138 0.9496 0.8359 0.5851 0.0232 3.9232
0.7578 0.7763 0.4877 0.6036 0.2050 0.7864 0.9945 0.3964 5.0076
0.5421 0.1294 0.1734 0.3043 0.7759 0.0084 0.6810 0.5512 3.1657
0.1203 0.8737 0.6797 0.0086 0.7044 0.0347 0.3226 0.1769 2.9209
0.3035 0.9585 0.0808 0.4266 0.7787 0.3835 0.3950 0.7018 4.0285
0.6193 0.1675 0.5443 0.0606 0.0556 0.2834 0.4059 0.4564 2.5928

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 82


Teoría Financiera y Costo de Capital

0.8612 0.7537 0.5935 0.3169 0.4585 0.4662 0.9335 0.7130 5.0967


0.0064 0.6280 0.1673 0.6468 0.4469 0.2700 0.6647 0.4152 3.2453
0.5265 0.0586 0.3802 0.9183 0.0568 0.9476 0.7423 0.9503 4.5806
0.6550 0.4395 0.7612 0.5590 0.3354 0.9084 0.3980 0.2162 4.2727
0.6467 0.0930 0.8547 0.0499 0.0787 0.4974 0.5666 0.9861 3.7732
0.5264 0.2535 0.9505 0.1500 0.4131 0.8903 0.4289 0.5141 4.1268
0.1238 0.3269 0.0266 0.3222 0.9187 0.8992 0.9262 0.5783 4.1221
0.4814 0.8892 0.1184 0.4548 0.6721 0.4253 0.6537 0.7725 4.4674
0.8291 0.1220 0.1156 0.4185 0.8754 0.0912 0.6440 0.3383 3.4341
0.6779 0.3050 0.0671 0.5996 0.9432 0.3414 0.9582 0.1057 3.9980
0.0837 0.2870 0.7985 0.5828 0.0433 0.6867 0.6392 0.9352 4.0564
0.1979 0.9234 0.8812 0.1441 0.4637 0.8049 0.4130 0.8869 4.7150
0.4259 0.7065 0.4424 0.2627 0.4329 0.3435 0.2889 0.3947 3.2975
0.1263 0.1718 0.1147 0.8583 0.7490 0.1032 0.3528 0.7929 3.2690
0.4685 0.0098 0.8791 0.3400 0.8119 0.4269 0.9605 0.8379 4.7345
0.5101 0.4086 0.5468 0.3644 0.5627 0.5609 0.6195 0.0691 3.6420
0.7593 0.8859 0.0128 0.7234 0.7241 0.6156 0.8548 0.8226 5.3985
0.7864 0.0069 0.1594 0.4615 0.5823 0.7668 0.6159 0.8398 4.2190
0.4499 0.6698 0.3208 0.7248 0.7438 0.4099 0.7165 0.7601 4.7956
0.3989 0.9981 0.1402 0.0902 0.1484 0.4581 0.7041 0.1954 3.1331
0.6468 0.8479 0.8008 0.7613 0.0386 0.6829 0.6042 0.0799 4.4623
0.4756 0.1397 0.9039 0.9210 0.3392 0.4951 0.8930 0.9651 5.1326
0.6853 0.8085 0.7530 0.2546 0.9416 0.2973 0.2522 0.8698 4.8623
0.2788 0.9436 0.2915 0.1029 0.0657 0.2750 0.1402 0.8454 2.9431
0.1553 0.2354 0.1365 0.1761 0.6189 0.0313 0.8737 0.3685 2.5959
0.4854 0.9301 0.2135 0.8828 0.5026 0.4535 0.7118 0.3036 4.4833
0.4819 0.0427 0.2589 0.7866 0.8325 0.8299 0.6191 0.2470 4.0985
0.9694 0.3183 0.8650 0.7569 0.7351 0.3467 0.0279 0.6131 4.6324
0.1209 0.9007 0.0325 0.0314 0.6663 0.3124 0.6720 0.9952 3.7313
0.9226 0.2767 0.2019 0.9063 0.9684 0.7692 0.0050 0.6084 4.6587
0.2300 0.8288 0.7476 0.2979 0.6014 0.8135 0.2954 0.2015 4.0162
0.9987 0.8173 0.2662 0.0790 0.0575 0.0606 0.4696 0.4348 3.1836
0.9473 0.4930 0.2403 0.1999 0.7295 0.0475 0.8516 0.1436 3.6527
0.8186 0.3630 0.3575 0.6555 0.5963 0.2600 0.5709 0.0656 3.6874
0.2576 0.6760 0.1655 0.9615 0.5493 0.1270 0.7992 0.7041 4.2403
0.5468 0.3276 0.1123 0.7811 0.7923 0.6658 0.4479 0.5805 4.2543
0.0736 0.2732 0.3371 0.0833 0.2788 0.2414 0.8648 0.2582 2.4105

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 83


Teoría Financiera y Costo de Capital

III. DIAGRAMA DE RENTABILIDAD Y RIESGO

. Rentabilidad y Riesgo del Portafolio


Rentabilidad y Riesgo de Portafolio de Dos Activos Riesgosos
Retorno Varianza Desv Est
Ri σi2 σi 3.10%
1.94% 1.28% 11.33%
0.75% 0.89% 9.45% 2.60%
1.09% 0.62% 7.85%
1.38% 1.03% 10.16% 2.10%
1.56% 1.00% 9.98%
1.41% 1.00% 10.00%

Retorno
1.60%
0.88% 0.76% 8.70%
0.92% 0.74% 8.60%
1.10%
0.71% 0.83% 9.09%
2.19% 1.39% 11.80%
1.89% 1.42% 11.93% 0.60%
2.36% 1.08% 10.38%
1.29% 0.98% 9.92% 0.10%
1.47% 1.00% 9.98% 6.00% 7.00% 8.00% 9.00% 10.00% 11.00% 12.00% 13.00% 14.00% 15.00%
1.12% 1.03% 10.13% Riesgo
1.61% 1.03% 10.14%
1.17% 0.86% 9.29%
1.47% 1.03% 10.16%
1.32% 0.93% 9.62%
2.05% 1.35% 11.60%
1.12% 0.83% 9.13%
0.92% 0.80% 8.93%
1.00% 0.77% 8.78%
2.20%
1.69%
1.19%
0.93%
10.92%
9.63% P  w1212  w2222  2w1w21212
1.75% 1.04% 10.20%
0.78% 0.89% 9.43%
1.44% 1.01% 10.05%
2.32% 1.30% 11.38%
1.77% 1.08% 10.38%

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 84


Teoría Financiera y Costo de Capital

1.33% 1.02% 10.11%


1.35% 0.89% 9.42%
1.56% 1.02% 10.08%
1.38% 0.84% 9.14%
1.37% 1.02% 10.11%
1.01% 0.79% 8.89%
1.58% 1.26% 11.23%
2.10% 1.03% 10.16%
1.52% 0.98% 9.89%
1.67% 1.21% 10.99%
1.04% 1.05% 10.24%
1.74% 1.13% 10.65%
1.29% 0.94% 9.69%
2.26% 1.28% 11.31%
1.43% 0.91% 9.53%
2.14% 1.25% 11.20%
1.69% 1.10% 10.49%
1.56% 1.06% 10.28%
1.80% 1.30% 11.41%
0.65% 0.78% 8.82%
0.77% 0.86% 9.25%
0.79% 0.80% 8.92%
1.43% 1.14% 10.67%
1.53% 0.87% 9.33%
1.67% 1.29% 11.35%
1.37% 1.03% 10.17% Libre de ries
1.49% 1.07% 10.36%
1.55% 1.04% 10.19%
0.95% 0.88% 9.37%
1.04% 0.95% 9.74%
0.99% 0.83% 9.08%
1.56% 1.08% 10.41%
1.42% 1.00% 10.02%
1.10% 0.69% 8.31%
2.03% 1.41% 11.88%
1.05% 0.79% 8.88%
1.49% 1.11% 10.52%
0.46% 0.79% 8.88%
1.24% 0.85% 9.25%

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 85


Teoría Financiera y Costo de Capital

2.56% 1.33% 11.55%


1.30% 0.87% 9.33% Portafolio rie
1.08% 0.95% 9.73%
1.20% 0.85% 9.23%
1.34% 1.00% 10.01%
1.92% 1.14% 10.67%
1.53% 1.16% 10.77%
1.27% 0.94% 9.68%
1.34% 1.00% 10.02%
0.61% 0.76% 8.70%
1.00% 0.90% 9.48%
0.77% 0.80% 8.95%
1.79% 1.30% 11.42%
1.09% 0.69% 8.33%
1.44% 1.02% 10.08%
1.60% 1.10% 10.49%
1.50% 1.36% 11.67%
1.67% 1.05% 10.27%
1.43% 1.06% 10.28%
1.51% 1.16% 10.76%
0.85% 0.76% 8.72%
2.34% 1.45% 12.02%
1.32% 0.89% 9.44%
1.39% 0.86% 9.25%
1.45% 1.11% 10.56%
1.47% 0.97% 9.86%
1.82% 1.22% 11.06%
0.91% 0.87% 9.30%
1.61% 1.16% 10.79%
2.24% 1.49% 12.22%
2.53% 1.32% 11.51%
1.60% 1.06% 10.32%
1.76% 1.26% 11.24%
1.30% 0.94% 9.70%
1.20% 0.99% 9.97%
0.64% 0.79% 8.89%
1.17% 1.05% 10.24%
1.51% 1.04% 10.17%
1.81% 1.27% 11.25%

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 86


Teoría Financiera y Costo de Capital

1.41% 1.20% 10.98%


1.05% 1.06% 10.29%
1.12% 0.83% 9.13%
1.17% 1.07% 10.37%
1.09% 0.88% 9.41%
0.74% 0.80% 8.95%
0.91% 0.67% 8.17%
1.11% 0.89% 9.45%
0.71% 0.78% 8.82%
0.96% 0.80% 8.95%
2.34% 1.37% 11.73%
1.57% 1.13% 10.61%
1.59% 1.01% 10.07%
1.32% 1.04% 10.19%
1.35% 1.07% 10.36%
1.36% 1.01% 10.04%
1.36% 0.86% 9.29%
1.33% 1.00% 10.00%
0.97% 0.83% 9.11%
0.74% 0.89% 9.41%
2.66% 1.70% 13.02%
0.84% 0.80% 8.93%
1.72% 1.10% 10.47%
1.14% 0.76% 8.71%
0.80% 0.69% 8.33%
1.20% 0.88% 9.37%
1.04% 0.99% 9.93%
1.63% 1.16% 10.75%
2.00% 1.22% 11.07%
1.52% 1.14% 10.67%
1.56% 1.03% 10.14%
0.84% 0.72% 8.47%
2.23% 1.29% 11.37%
1.54% 0.98% 9.89%
1.35% 1.02% 10.10%
1.83% 1.06% 10.30%
2.00% 1.20% 10.94%
1.33% 0.81% 9.01%
1.35% 0.96% 9.81%

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 87


Teoría Financiera y Costo de Capital

1.57% 1.08% 10.39%


1.61% 1.03% 10.14%
1.19% 0.90% 9.47%
0.90% 0.75% 8.67%
1.21% 0.91% 9.55%
1.27% 0.87% 9.34%
1.02% 0.95% 9.73%
2.02% 1.10% 10.51%
2.49% 1.49% 12.22%
1.17% 0.98% 9.89%
1.56% 1.10% 10.47%
1.10% 0.90% 9.48%
1.34% 1.02% 10.10%
1.19% 1.07% 10.35%
1.04% 0.69% 8.30%
0.79% 0.81% 9.01%
1.64% 1.06% 10.28%
2.16% 1.63% 12.77%
1.62% 1.07% 10.32%
1.24% 0.84% 9.15%
1.44% 0.91% 9.53%
1.32% 1.02% 10.12%
1.45% 0.89% 9.44%
1.32% 0.90% 9.49%
1.43% 1.07% 10.35%
1.49% 1.05% 10.24%
1.65% 1.24% 11.13%
1.39% 0.99% 9.94%
1.35% 0.94% 9.71%
1.03% 0.64% 8.02%
0.86% 0.81% 9.02%
1.79% 1.38% 11.74%
1.31% 0.77% 8.79%
1.59% 1.03% 10.17%
1.45% 1.10% 10.51%
1.50% 1.10% 10.51%
1.27% 0.96% 9.78%
1.61% 1.20% 10.96%
1.12% 0.91% 9.56%

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 88


Teoría Financiera y Costo de Capital

1.19% 1.00% 10.00%


0.96% 0.83% 9.14%
1.36% 0.86% 9.30%
1.65% 1.07% 10.33%
1.99% 1.28% 11.32%
1.22% 0.93% 9.66%
1.61% 1.16% 10.76%
1.64% 1.34% 11.56%
1.49% 1.36% 11.68%
1.22% 0.96% 9.80%
1.40% 0.89% 9.43%
1.34% 1.19% 10.91%
0.98% 0.81% 9.02%
1.06% 0.71% 8.44%
2.23% 1.29% 11.38%
1.80% 1.09% 10.42%
0.66% 0.79% 8.90%
1.15% 0.74% 8.61%
1.54% 1.14% 10.69%
0.92% 0.88% 9.39%
1.15% 1.03% 10.13%
1.20% 0.87% 9.34%
1.35% 1.22% 11.05%
1.55% 0.96% 9.81%
1.35% 0.93% 9.64%
1.63% 1.21% 11.02%
1.29% 0.78% 8.84%
1.63% 1.19% 10.92%
1.57% 1.23% 11.10%
2.95% 1.99% 14.09%
1.92% 1.53% 12.35%
1.26% 1.06% 10.30%
1.86% 1.26% 11.24%
1.87% 1.29% 11.35%
1.04% 0.89% 9.44%
1.84% 1.01% 10.07%
1.34% 1.00% 9.99%
1.59% 1.17% 10.80%
1.61% 1.13% 10.64%

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 89


Teoría Financiera y Costo de Capital

1.09% 0.60% 7.75%


1.46% 1.21% 11.01%
1.61% 1.19% 10.91%
0.79% 0.67% 8.16%
1.24% 0.89% 9.46%
1.38% 1.06% 10.32%
1.98% 1.03% 10.17%
1.04% 0.78% 8.85%
1.31% 0.70% 8.35%
0.74% 0.75% 8.65%
0.73% 0.77% 8.75%
2.15% 1.06% 10.32%
1.32% 0.85% 9.20%
1.77% 1.23% 11.09%
1.61% 1.08% 10.40%
0.88% 0.94% 9.69%
0.96% 0.87% 9.32%
2.23% 1.32% 11.48%
1.09% 1.09% 10.43%
1.53% 1.10% 10.51%
1.39% 0.82% 9.04%
1.00% 0.86% 9.25%
1.20% 0.87% 9.35%
1.79% 1.14% 10.66%
1.58% 1.10% 10.48%
0.85% 0.74% 8.61%
1.23% 0.95% 9.75%
1.36% 0.88% 9.37%
0.81% 0.70% 8.39%
0.98% 0.88% 9.39%
1.34% 0.82% 9.07%
1.27% 0.81% 9.02%
1.98% 1.03% 10.13%
1.19% 0.84% 9.17%
1.79% 1.24% 11.13%
0.59% 0.81% 8.97%
2.04% 1.37% 11.71%
1.40% 0.96% 9.81%
1.42% 1.17% 10.80%

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 90


Teoría Financiera y Costo de Capital

1.04% 0.89% 9.45%


1.11% 0.94% 9.69%
0.83% 0.82% 9.08%
1.42% 1.12% 10.57%
1.59% 1.10% 10.49%
1.86% 1.12% 10.57%
1.32% 0.71% 8.45%
1.51% 0.97% 9.84%
2.28% 1.38% 11.73%
2.24% 1.36% 11.66%
1.63% 1.00% 10.02%
1.61% 0.93% 9.62%
1.31% 0.81% 9.01%
1.66% 1.10% 10.47%
1.46% 0.70% 8.35%
1.84% 1.21% 10.99%
1.05% 0.82% 9.04%
1.38% 0.96% 9.78%
1.03% 0.87% 9.33%
1.34% 0.88% 9.39%
1.10% 0.98% 9.88%
1.82% 1.05% 10.26%
1.48% 0.88% 9.36%
1.12% 0.74% 8.58%
1.75% 0.92% 9.58%
1.63% 1.09% 10.43%
1.38% 0.97% 9.84%
1.74% 0.92% 9.60%
1.11% 0.73% 8.55%
1.55% 1.06% 10.28%
1.18% 0.66% 8.15%
1.87% 1.25% 11.17%
1.85% 1.23% 11.11%
1.84% 1.11% 10.54%
1.98% 1.05% 10.27%
1.42% 1.04% 10.21%
1.20% 0.90% 9.47%
1.68% 1.09% 10.46%
1.62% 1.20% 10.95%

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 91


Teoría Financiera y Costo de Capital

1.63% 1.33% 11.52%


1.27% 1.07% 10.34%
2.00% 1.23% 11.07%
1.11% 0.96% 9.79%
1.59% 1.30% 11.42%
1.93% 1.19% 10.93%
1.56% 1.10% 10.48%
1.06% 0.90% 9.50%
1.21% 0.86% 9.29%
1.29% 0.92% 9.58%
1.60% 1.04% 10.20%
1.63% 0.96% 9.81%
1.45% 0.83% 9.09%
1.52% 1.23% 11.08%
1.02% 0.94% 9.67%
0.98% 0.94% 9.71%
1.03% 0.74% 8.58%
2.24% 1.18% 10.87%
1.20% 0.80% 8.95%
1.50% 0.95% 9.75%
0.99% 0.81% 9.03%
0.75% 0.92% 9.60%
1.53% 1.30% 11.42%
0.88% 0.82% 9.05%
0.89% 0.78% 8.81%
1.40% 1.02% 10.11%
2.23% 1.40% 11.83%
0.75% 0.85% 9.20%
1.83% 1.16% 10.76%
2.02% 1.15% 10.71%
2.35% 1.37% 11.72%
1.45% 1.06% 10.28%
1.41% 1.01% 10.05%
1.26% 0.96% 9.80%
1.02% 0.74% 8.61%
1.18% 0.94% 9.69%
1.35% 0.79% 8.89%
1.09% 0.85% 9.24%
1.98% 1.03% 10.13%

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 92


Teoría Financiera y Costo de Capital

1.39% 1.31% 11.43%


1.07% 0.83% 9.10%
1.89% 1.04% 10.22%
1.57% 1.11% 10.56%
1.09% 0.86% 9.25%
1.47% 0.85% 9.22%
0.83% 0.79% 8.90%
0.87% 0.75% 8.66%
1.43% 0.80% 8.96%
2.01% 1.13% 10.62%
1.73% 1.34% 11.56%
1.02% 0.70% 8.37%
1.41% 1.01% 10.05%
1.00% 0.90% 9.51%
1.69% 1.11% 10.52%
2.29% 1.37% 11.72%
1.03% 0.90% 9.46%
1.83% 1.13% 10.65%
1.54% 1.31% 11.46%
1.08% 1.01% 10.04%
1.47% 1.01% 10.06%
1.38% 1.08% 10.41%
1.93% 1.17% 10.84%
1.92% 1.40% 11.84%
2.20% 1.21% 10.99%
0.82% 0.75% 8.68%
1.42% 1.37% 11.72%
1.02% 0.75% 8.64%
1.09% 0.80% 8.96%
1.67% 1.19% 10.93%
2.14% 1.10% 10.46%
1.57% 1.02% 10.11%
1.88% 1.05% 10.23%
1.51% 1.07% 10.36%
1.28% 0.90% 9.49%
0.94% 0.87% 9.35%
1.16% 0.87% 9.35%
1.43% 0.95% 9.76%
1.39% 0.68% 8.26%

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 93


Teoría Financiera y Costo de Capital

1.10% 0.87% 9.32%


1.04% 0.72% 8.47%
0.94% 1.01% 10.06%
1.34% 1.10% 10.49%
1.89% 1.06% 10.31%
1.81% 1.19% 10.93%
1.20% 0.96% 9.82%
1.73% 1.08% 10.38%
0.52% 0.82% 9.03%
1.04% 0.92% 9.60%
1.09% 0.94% 9.70%
1.97% 1.11% 10.52%
1.10% 0.93% 9.63%
1.59% 1.08% 10.37%
1.51% 0.98% 9.92%
2.48% 1.32% 11.48%
0.69% 0.81% 8.98%
1.06% 0.83% 9.09%
1.35% 1.05% 10.27%
1.76% 1.04% 10.20%
2.05% 1.25% 11.19%
1.05% 0.71% 8.40%
1.07% 0.86% 9.26%
2.11% 1.39% 11.79%
0.87% 0.75% 8.68%
1.06% 0.95% 9.77%
1.04% 0.90% 9.50%
1.56% 1.07% 10.36%
1.12% 0.89% 9.46%
1.24% 0.97% 9.82%
0.99% 1.00% 9.99%
0.96% 0.86% 9.28%
1.16% 0.78% 8.81%
0.91% 0.65% 8.05%
1.59% 1.18% 10.86%
1.53% 0.85% 9.24%
1.99% 1.16% 10.78%
1.42% 0.95% 9.77%
1.51% 0.89% 9.45%

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 94


Teoría Financiera y Costo de Capital

2.18% 1.13% 10.65%


1.55% 0.95% 9.75%
1.08% 0.72% 8.51%
1.74% 1.15% 10.74%
1.07% 0.91% 9.54%
1.08% 0.88% 9.36%
1.28% 0.84% 9.15%
1.67% 1.20% 10.97%
1.63% 1.15% 10.74%
1.23% 0.83% 9.13%
1.65% 1.09% 10.45%
1.45% 0.96% 9.80%
1.64% 1.21% 11.01%
1.34% 0.78% 8.86%
1.79% 1.01% 10.03%
1.97% 1.12% 10.56%
0.46% 0.64% 8.02%
1.45% 1.23% 11.11%
1.20% 0.91% 9.55%
1.51% 1.04% 10.19%
1.23% 0.85% 9.23%
1.27% 1.04% 10.19%
1.85% 1.16% 10.77%
1.44% 1.11% 10.55%
1.26% 1.09% 10.44%
0.95% 0.80% 8.95%
1.40% 0.86% 9.27%
1.09% 0.68% 8.27%
1.54% 1.17% 10.83%
1.67% 1.20% 10.96%
1.19% 0.85% 9.21%
1.76% 1.11% 10.54%
0.75% 0.74% 8.58%
1.60% 1.08% 10.37%
1.17% 0.88% 9.40%
2.30% 1.19% 10.91%
0.90% 0.96% 9.80%
1.45% 0.92% 9.59%
0.72% 0.99% 9.95%

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 95


Teoría Financiera y Costo de Capital

0.96% 0.79% 8.87%


1.56% 1.05% 10.25%
2.19% 1.27% 11.27%
1.99% 1.31% 11.47%
1.91% 1.06% 10.32%
2.00% 1.14% 10.65%
1.01% 0.92% 9.57%
2.11% 1.35% 11.60%
1.09% 1.21% 11.00%
1.62% 0.94% 9.70%
1.61% 1.12% 10.56%
1.91% 1.08% 10.41%
1.10% 0.88% 9.38%
1.27% 0.80% 8.96%
1.49% 1.00% 9.98%
0.91% 0.63% 7.96%
1.96% 1.15% 10.72%
1.54% 1.13% 10.63%
0.97% 1.03% 10.17%
0.80% 1.06% 10.27%
1.11% 0.75% 8.67%
1.66% 1.30% 11.40%
0.96% 0.92% 9.61%
1.30% 0.97% 9.87%
1.71% 1.16% 10.77%
1.50% 1.11% 10.54%
1.49% 1.14% 10.68%
0.99% 0.80% 8.95%
2.10% 1.03% 10.16%
1.54% 0.91% 9.56%
0.96% 0.92% 9.61%
1.50% 1.24% 11.16%
2.66% 1.75% 13.24%
1.24% 0.95% 9.73%
1.19% 1.19% 10.91%
1.37% 1.01% 10.04%
1.89% 1.07% 10.34%
1.56% 0.90% 9.51%
1.72% 1.23% 11.10%

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 96


Teoría Financiera y Costo de Capital

1.69% 1.07% 10.36%


1.41% 1.20% 10.96%

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 97


Teoría Financiera y Costo de Capital

#VALUE!

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 98


Teoría Financiera y Costo de Capital

IV. FRONTERA EFICIENTE

1. Participaciones Relativas

Portafolio TSLA AMZN BAP INRETAIL BVN KO


w1 w2 w3 w4 w5 w6
MIN VAR 0.00% 20.01% 4.28% 22.36% 0.00% 48.28%
P1 12.50% 12.50% 12.50% 12.50% 12.50% 12.50%
P2 14.29% 14.29% 14.29% 14.29% 14.29% 14.29%
P3 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
P4 20.00% 20.00% 0.00% 0.00% 0.00% 20.00%
mayor al 5% P5 22.29% 10.48% 5.00% 5.00% 5.00% 5.00%
MAX RET 100.00% 0.00% 0.00% 0.00% 0.00% 0.00%
La que mejor conviene SHARPE 18.44% 21.05% 0.00% 12.62% 0.00% 0.00%

2. Rentabilidad y Riesgo
mensual riesgo
Nº Retorno Varianza Desv Est SHARPE
PORTA Ri σi2 σi Retorno anual
MAX SHARPE 2.79% 0.59% 7.67% 33.17% 39.141%
MIN VAR 1.03% 0.19% 4.34% 18.11% 13.121%
P1 1.44% 0.40% 6.32% 18.82% 18.655%
P2 1.67% 0.44% 6.62% 21.48% 21.961%
P3 -0.19% 0.35% 5.88% -7.46% -2.284%
P4 2.10% 0.51% 7.14% 25.92% 28.296%
P5 2.60% 0.64% 8.01% 29.43% 36.107%
MAX RET 5.68% 4.06% 20.15% 26.96% 93.997%

mansual
RATIO DE SHARPE
T. Libre de Riesgo 0.25% tasa de bonos soberanos mensualmente anualmente es de 3%
R. Sharpe 33%
Retorno 2.8% 39% anual
Desv. Est 7.67%

W1 50%

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 99


Teoría Financiera y Costo de Capital

Cov 0.0125578 W2 50%


Corr 0.03298369
Rp 4.23%
Desv.Est 0.10896195
Varianza 0.01187271

E(Rp) 3.4%
Desvestp 7.6%
Rf 0.2%

Coef de aversión 4

y* 138.5%
1-y* -38.5%
E(Rp)* 4.7%
Desvestp* 10.5%

Utilidad 2.5%

Desvestp CAL Retorno


0.0% 0.2% 2.5%
1.0% 0.7% 2.5%
2.0% 1.1% 2.5%
3.0% 1.5% 2.6%
4.0% 1.9% 2.8%
5.0% 2.3% 3.0%
6.0% 2.8% 3.2%
7.0% 3.2% 3.4%
7.6% 3.4% 3.6%
8.0% 3.6% 3.7%
9.0% 4.0% 4.1%
10.0% 4.5% 4.5%
11.0% 4.9% 4.9%
12.0% 5.3% 5.3%

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 100


Teoría Financiera y Costo de Capital

13.0% 5.7% 5.8%


14.0% 6.1% 6.4%
15.0% 6.6% 7.0%
16.0% 7.0% 7.6%
17.0% 7.4% 8.2%
18.0% 7.8% 8.9%
19.0% 8.2% 9.7%

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 101


Teoría Financiera y Costo de Capital

10,000,000.00
AAPL ETF SPY Total TSLA 1,843,625.76
w7 w8 AMZN 2,105,278.92
5.06% 0.00% 100.00% BAP -
12.50% 12.50% 100.00% INRETAIL 1,262,086.15
14.29% 0.00% 100.00% BVN -
0.00% 100.00% 100.00% KO -
20.00% 20.00% 100.00% AAPL 4,789,009.18
42.24% 5.00% 100.00% ETF SPY -
0.00% 0.00% 100.00% Total 10,000,000.00
47.89% 0.00% 100.00%

W1 W2 σp Rp Sharpe
50% 50% 10.90% 4.23% 36.60%
0% 100% 20.15% 5.68% -136.48%
5% 95% 19.16% 5.53% 14.32% 8.00%
10% 90% 18.17% 5.39% -12.55%
15% 85% 17.20% 5.24% 30.49% 7.00%
20% 80% 16.24% 5.10% 31.40%
25% 75% 15.29% 4.96% 24.19%
6.00%
30% 70% 14.36% 4.81% 10.53%
35% 65% 13.45% 4.67% 3.22%

RENTABILIDAD
40% 60% 12.57% 4.52% -50.71% 5.00%
45% 55% 11.71% 4.38% 27.24%
50% 50% 10.90% 4.23% 38.86% 4.00%
55% 45% 10.12% 4.09% 40.39%
60% 40% 9.41% 3.95% 41.92% 3.00%
65% 35% 8.77% 3.80% 43.35%
70% 30% 8.22% 3.66% 44.51%
75% 25% 7.77% 3.51% 45.21%
2.00%
80% 20% 7.45% 3.37% 45.20%
1.00%

0.00%
5.00% 7.00% 9.00% 11.00%
Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio
RIESGO
102
D
3.00%
Teoría Financiera y Costo de Capital

RENT
2.00%

85% 15% 7.28% 3.22% 44.31% 1.00%


90% 10% 7.25% 3.08% 42.45%
95% 5% 7.39% 2.94% 39.72% 0.00%
5.00% 7.00% 9.00% 11.00%
100% 0% 7.67% 2.79% 36.39% RIESGO D
105% -5% 8.08% 2.65% 32.74% -1.00%
110% -10% 8.61% 2.50% 29.06%
115% -15% 9.23% 2.36% 25.55%
120% -20% 9.93% 2.21% 22.30%
125% -25% 10.68% 2.07% 19.37%
130% -30% 11.49% 1.92% 16.75%
135% -35% 12.33% 1.78% 14.44%
140% -40% 13.21% 1.64% 12.38%
145% -45% 14.12% 1.49% 10.57%
150% -50% 15.04% 1.35% 8.96%
78% 22% 7.59% 3.44% 45.31%

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 103


Teoría Financiera y Costo de Capital

Frontera eficiente
CAL
Retorno

9.00% 11.00% 13.00% 15.00% 17.00% 19.00%


RIESGO DEL PORTAFOLIO
Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 104
Teoría Financiera y Costo de Capital

9.00% 11.00% 13.00% 15.00% 17.00% 19.00%


RIESGO DEL PORTAFOLIO

Prof. Fénix Suto Universidad ESAN 610217713.xlsx / Portafolio 105

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