Date GTB HCI AFL PIL DNL BIL AACL FIL BFL

10/21/2021 529.9 246.2 556.05 2412.95 2505.45 3752.45 3780.6 232.3 7400.2
9/30/2021 614.75 256.8 539.15 2381.95 2406.55 3948.95 3825.55 208.8 7668.1
8/31/2021 429.55 256.92 562.6 2280.35 2283.6 3997.5 4277.15 164.26 7524.5
7/31/2021 404.6 256.97 629.14 2278.8 2039.2 3423.4 4386.45 173.11 6228.1
6/30/2021 318.45 245.32 540.52 2146.06 1803.47 3649.65 3590.54 179.91 6006.15
5/31/2021 254.35 244.1 590.03 2082.89 1780.39 3447.85 3661.97 166.26 5618.87
4/30/2021 246.6 230.22 482.04 1809.15 1860.36 3436.24 3383.16 147.92 5443.11
3/31/2021 203.65 226.82 410.4 1802.77 1651.85 3552.85 2274.97 124.4 5141.54
2/28/2021 228.35 225.61 473.33 1679.78 1364.81 3296.75 2017.27 119.92 5256.41
1/31/2021 237.35 214.29 503.78 1664.13 968.82 3431.37 1906.66 112.88 4726.91
12/31/2020 251 220.17 517.59 1759.18 939.2 3505.12 1526.62 126.37 5286.66
11/30/2020 267.85 202.21 516.5 1536.9 862.67 3565.49 1600.38 123.4 4900.88
10/31/2020 244.55 179.29 477.09 1564.65 740.17 3404.07 1182.91 102.19 3303.66
9/30/2020 214.6 181.28 492.49 1429 818.89 3722.5 1279.09 98.2 3273.31
8/31/2020 183.81 177.91 513.43 1397.66 681.53 3651.84 1237.23 98.85 3482.17
7/31/2020 176.77 173.91 442.25 1352.03 641.34 3667.63 892.91 90.07 3246.06
6/30/2020 205.84 166.35 499.47 1367.08 473.72 3456.79 836.56 97.42 2826.43
5/31/2020 174.09 153.2 409.97 1463.02 496.7 3241.02 795.43 83.13 1950.5
4/30/2020 148.7 146.44 428.34 1521.41 504.73 3036.61 710.61 78.56 2314.36
3/31/2020 96.42 133.24 291.32 1351.43 383.97 2551 477.7 76.82 2212.23
2/29/2020 127.77 188.71 452.72 1500.93 456.18 2817.82 599.91 104.31 4448.42
1/31/2020 59.57 188.1 647.81 1499.89 378.85 3036.49 517.8 107.66 4348.86
12/31/2019 58.73 164.33 571.4 1375.75 368.48 2872.46 427.97 104.9 4218.22
11/30/2019 46.62 177.48 500.56 1292.52 332.73 2900.83 422.72 111.52 4058.3
10/31/2019 43.6 174.31 443.66 1390.33 336.97 3099.01 350.14 116.25 4011.83
9/30/2019 43.65 175.43 359.47 1432.14 295.15 2793.1 347.07 114.46 4030.26
8/31/2019 38.59 180.33 311.14 1366.62 272.09 2563.05 300.44 94.84 3319.5
7/31/2019 36.16 177.54 302.43 1230.62 274.36 2457.12 281.33 99.19 3239.36
6/30/2019 39.68 178.87 339.84 1198.39 286.51 2587.95 320.07 95.47 3660.32
5/31/2019 39.88 189.78 360.95 1272.59 309 2756.08 322.86 93.25 3447.53
4/30/2019 39.93 167.31 350.23 1218.22 258.95 2731.65 329.82 87.34 3078.47
3/31/2019 38.98 166.49 394.96 1229.77 268.8 2910.35 325.1 92.14 3007.92
2/28/2019 29.61 139.71 323.32 1137.21 228.01 2883.37 277.39 89.37 2634.05
1/31/2019 31.2 135.77 344.62 1104.94 215.07 3016.18 293.33 96.73 2560.31
12/31/2018 30.75 138.61 372.59 1093.2 216.79 2938.55 313.49 102.55 2630.22
11/30/2018 31.89 138.29 330.08 1147.91 252.62 2989.82 298.64 104.3 2523.37
10/31/2018 33.23 128.8 385.11 946.17 243.65 2661.85 237.99 102.95 2369.1
9/30/2018 34.92 131.12 373.95 1032.02 289.83 2746.46 224.04 98.91 2155.76
8/31/2018 38.04 148.9 407.66 1153.19 256.15 3177.17 254.19 116.87 2840.47
7/31/2018 35.51 143.74 467.71 1102.78 236.93 3085.41 247.34 106.12 2682.67
6/30/2018 34.32 124.54 512.9 1043.93 237.75 2919.15 248.75 106.92 2279.47
 5/31/2018 34.77 137.06 518.74 1136.3 238.04 2783.01 251.58 114.33 2094.39
4/30/2018 42.16 139.16 788.8 1066.22 262.47 2590.04 276.16 121.29 1893.68
3/31/2018 41.37 127.77 709.93 900.91 241.7 2335.13 229.35 122.07 1754.56
2/28/2018 44.79 142.98 761.79 884.37 254.23 2346.24 242.01 120.84 1628.19
1/31/2018 51.48 139.88 704.37 879.81 271.14 2200.56 272.01 119.64 1665.51
12/31/2017 56.94 137.37 805.08 885.6 225.71 2212.35 258.48 122.06 1743.79
11/30/2017 64.28 139.79 829.78 826.71 203.43 2262.32 227.84 120.2 1714.35
10/31/2017 43.65 133.33 896.35 767.42 211.72 2179.59 238.52 132.53 1787.36
9/30/2017 43.35 106.73 644.82 779.88 189.2 2040.88 167.01 117.46 1824.54
8/31/2017 43.75 108.95 586.92 820.52 174.08 1987.65 160.8 113.07 1768.8
7/31/2017 45.18 113.59 516.95 776.68 158.24 1842.32 156.84 112.34 1690.58
6/30/2017 42.21 110.45 472.74 786.19 157.36 1723.71 144.29 109.64 1359.5
5/31/2017 44.04 115.75 442.94 751.6 136.62 1650.18 146.58 110.58 1313.8
4/30/2017 50.44 121.49 276.25 702.46 132.37 1693.11 191.54 104.96 1263.56
3/31/2017 51.43 109.92 233.08 682.31 126.95 1576.07 172.6 105.13 1159.5
2/28/2017 52.43 101.05 213.47 665.72 103.93 1508.53 140.87 97.64 1097.22
1/31/2017 48.01 103.65 177.33 657.28 103.69 1462.3 120.61 89.91 1026.63
12/31/2016 47.47 96.9 154.87 575.59 88.99 1348.26 116.84 78.99 833.86
11/30/2016 48.21 100.87 161.84 624.97 90.63 1416.74 118.17 80.19 910.69
10/31/2016 57.88 128.46 168.49 707.93 110.7 1548.84 129.77 84.1 1069.7
9/30/2016 48.11 116.28 165.71 665.18 115.15 1571.4 118.84 81.9 1045.44
8/31/2016 49.5 121.62 173.55 681.72 109.74 1616.5 120.6 88.23 1090.2
7/31/2016 52.13 111.69 189.6 712.69 99.58 1370.44 128.72 85.59 1026.99
6/30/2016 55.8 104.36 164.5 702.06 82.45 1279.77 138.62 75.98 791.1
5/31/2016 52.28 89.97 145.52 688.75 78.68 1255.3 118.29 68.97 750.75
4/30/2016 50.59 84.49 137.57 588.11 66.93 1327.85 118.48 64.32 675.59
3/31/2016 50.39 71.69 124.2 574.7 64.97 1246.17 118.9 64.73 685
2/29/2016 42.26 56.68 112.86 568.61 56.99 1278.52 110.14 54.59 585.22
1/31/2016 63.04 61.89 122.87 548.83 62.96 1247.53 121.19 56.51 584.86
12/31/2015 80.05 71.34 137.28 535.46 70.27 1375.95 139.37 53.45 592.9
 GOI 5YR
Bond
Gold NIFTY 500 Monthly
TCS P&G Index Index Yield
3547.65 14298.6 15674.62 15477.6 0.004792
3768.32 14073.8 15256.16 15052.65 0.004717
3779.2 13873.6 15481.8 14555.9 0.004709
3161.38 12680.6 15771.27 13664.25 0.004774
3332.07 13307.1 15444.97 13473.55 0.004766
3146.23 13127.45 16272.63 13226.35 0.004661
3008.52 13400.92 15573.65 12364.35 0.004811
3149.45 12540.84 14973.19 12313.7 0.004972
2868.43 12778.37 15381.85 12181.4 0.005023
3083.54 11108.51 16592.93 11302.4 0.004571
2831.78 10878.75 16964.09 11518.3 0.004203
2650.66 10336.01 16208.76 10719.05 0.004233
2636.02 9921.33 17146.63 9581.65 0.004309
2454.87 9677.7 17023.19 9341.75 0.004494
2223.35 9716.76 17501.16 9372.05 0.004563
2247.14 10071.89 18091.52 9035.75 0.004158
2046.29 9877.11 16543.87 8474.8 0.004401
1932.7 9625.74 15981.35 7822.4 0.004522
1973.95 10270.71 15278.89 8012.9 0.004773
1789.39 9991.62 14615.42 6996.75 0.005148
1945.73 10835.91 14204.68 9236.05 0.005173
2022.48 10694.49 14086.29 9861.45 0.005488
2098.11 11137.42 13460.92 9872.55 0.005391
1992.85 11091.74 13080.93 9813.65 0.00516
2202.89 11859.74 13295.59 9689.65 0.005184
1992.84 11747.12 12863.07 9340.9 0.005312
2145.01 9890.36 13587.14 8977.55 0.005212
2093.85 10561.66 12449.37 9044.95 0.005253
2109.33 10380.02 12229.28 9657.95 0.005639
2063.61 10639.79 11535.7 9805.05 0.005703
2123.54 9884.79 11406.59 9664.3 0.006113
1880.5 10495.01 11493.52 9663.7 0.005778
1863.4 10426.28 11935.03 8955.95 0.005908
1892.2 9560.92 11976.65 9003.85 0.006114
1774.67 9537.14 11389.41 9170 0.005993
1845.17 9234.4 10973.25 9109.15 0.006223
1816.95 9001.96 11601.15 8753.45 0.006522
2042.84 9338.93 11247.43 9116 0.006727
1944.33 9869.55 11119.98 9992 0.006674
1815.05 9934.17 11027.34 9650.6 0.006582
1725.09 9536.14 11310.45 9162.45 0.006683
1625.47 8937.29 11612.99 9315.35 0.006611
1635.2 9163.28 11632.93 9496.5 0.006483
1319.03 9181.59 11451.52 8912.1 0.006163
1405.09 9024.97 11469.67 9261.9 0.006293
1440.88 8908.66 11313.74 9697.9 0.006163
1247.58 9027.9 10986.32 9490.65 0.005923
1217.93 9032.18 10982.55 9154.5 0.005751
1211.92 8310.13 11027.57 9153.6 0.005624
1122.01 8111.93 11236.75 8600 0.005537
1149.83 7940.32 11306.15 8694.95 0.005413
1147.74 7703.48 10930.23 8793.3 0.005464
1085.06 7685.47 10909.14 8331.6 0.005504
1156.75 7137.64 11160.4 8350.95 0.005681
1032.54 6741.15 11140.69 8214.3 0.00577
1104.6 6945.47 11090.14 7995.05 0.005635
1120.25 6488.11 11464.69 7709.1 0.005666
1012.85 6361.77 11164.56 7379.3 0.005435
1071.46 6480.65 10658.25 6982.8 0.005476
1030.92 6045.75 10950.29 7079.4 0.005198
1083.01 6411.68 11612.97 7501.45 0.005588
1098.06 6191.37 12012.73 7394.85 0.005733
1134.43 6069.32 11958.77 7490.65 0.005849
1183.21 5995.99 12298.18 7330 0.005873
1150.33 5698.21 12260.18 6980.8 0.00616
1145.79 5635.98 11370.89 6804 0.006244
1130.67 5744.84 11993.93 6588.55 0.0062
1123.89 5717.41 11393.56 6452.15 0.006195
970.71 5250.82 11802.33 5829.95 0.006369
1066.37 5054.12 10695.4 6339.45 0.00632
1084.06 5122.13 10000 6724.75 0.0065
 Wt. Gold
Wt. Nifty
Return

Gold NIFTY 500

Date Index Index Gold Nse 500
10/21/2021 15674.62 15477.6 2.74% 2.82%
9/30/2021 15256.16 15052.65 -1.46% 3.41%
8/31/2021 15481.8 14555.9 -1.84% 6.53%
7/31/2021 15771.27 13664.25 2.11% 1.42%
6/30/2021 15444.97 13473.55 -5.09% 1.87%
5/31/2021 16272.63 13226.35 4.49% 6.97%
4/30/2021 15573.65 12364.35 4.01% 0.41%
3/31/2021 14973.19 12313.7 -2.66% 1.09%
2/28/2021 15381.85 12181.4 -7.30% 7.78%
1/31/2021 16592.93 11302.4 -2.19% -1.87%
12/31/2020 16964.09 11518.3 4.66% 7.46%
11/30/2020 16208.76 10719.05 -5.47% 11.87%
10/31/2020 17146.63 9581.65 0.73% 2.57%
9/30/2020 17023.19 9341.75 -2.73% -0.32%
8/31/2020 17501.16 9372.05 -3.26% 3.72%
7/31/2020 18091.52 9035.75 9.35% 6.62%
6/30/2020 16543.87 8474.8 3.52% 8.34%
5/31/2020 15981.35 7822.4 4.60% -2.38%
4/30/2020 15278.89 8012.9 4.54% 14.52%
3/31/2020 14615.42 6996.75 2.89% -24.25%
2/29/2020 14204.68 9236.05 0.84% -6.34%
1/31/2020 14086.29 9861.45 4.65% -0.11%
12/31/2019 13460.92 9872.55 2.90% 0.60%
11/30/2019 13080.93 9813.65 -1.61% 1.28%
10/31/2019 13295.59 9689.65 3.36% 3.73%
9/30/2019 12863.07 9340.9 -5.33% 4.05%
8/31/2019 13587.14 8977.55 9.14% -0.75%
7/31/2019 12449.37 9044.95 1.80% -6.35%
6/30/2019 12229.28 9657.95 6.01% -1.50%
5/31/2019 11535.7 9805.05 1.13% 1.46%
4/30/2019 11406.59 9664.3 -0.76% 0.01%
3/31/2019 11493.52 9663.7 -3.70% 7.90%
2/28/2019 11935.03 8955.95 -0.35% -0.53%
1/31/2019 11976.65 9003.85 5.16% -1.81%
12/31/2018 11389.41 9170 3.79% 0.67%
11/30/2018 10973.25 9109.15 -5.41% 4.06%
10/31/2018 11601.15 8753.45 3.14% -3.98%
9/30/2018 11247.43 9116 1.15% -8.77%
8/31/2018 11119.98 9992 0.84% 3.54%
7/31/2018 11027.34 9650.6 -2.50% 5.33%
6/30/2018 11310.45 9162.45 -2.61% -1.64%
 5/31/2018 11612.99 9315.35 -0.17% -1.91%
4/30/2018 11632.93 9496.5 1.58% 6.56%
3/31/2018 11451.52 8912.1 -0.16% -3.78%
2/28/2018 11469.67 9261.9 1.38% -4.50%
1/31/2018 11313.74 9697.9 2.98% 2.18%
12/31/2017 10986.32 9490.65 0.03% 3.67%
11/30/2017 10982.55 9154.5 -0.41% 0.01%
10/31/2017 11027.57 9153.6 -1.86% 6.44%
9/30/2017 11236.75 8600 -0.61% -1.09%
8/31/2017 11306.15 8694.95 3.44% -1.12%
7/31/2017 10930.23 8793.3 0.19% 5.54%
6/30/2017 10909.14 8331.6 -2.25% -0.23%
5/31/2017 11160.4 8350.95 0.18% 1.66%
4/30/2017 11140.69 8214.3 0.46% 2.74%
3/31/2017 11090.14 7995.05 -3.27% 3.71%
2/28/2017 11464.69 7709.1 2.69% 4.47%
1/31/2017 11164.56 7379.3 4.75% 5.68%
12/31/2016 10658.25 6982.8 -2.67% -1.36%
11/30/2016 10950.29 7079.4 -5.71% -5.63%
10/31/2016 11612.97 7501.45 -3.33% 1.44%
9/30/2016 12012.73 7394.85 0.45% -1.28%
8/31/2016 11958.77 7490.65 -2.76% 2.19%
7/31/2016 12298.18 7330 0.31% 5.00%
6/30/2016 12260.18 6980.8 7.82% 2.60%
5/31/2016 11370.89 6804 -5.19% 3.27%
4/30/2016 11993.93 6588.55 5.27% 2.11%
3/31/2016 11393.56 6452.15 -3.46% 10.67%
2/29/2016 11802.33 5829.95 10.35% -8.04%
1/31/2016 10695.4 6339.45 6.95% -5.73%
12/31/2015 10000 6724.75 Monthly mean return 0.72% 1.35%
Monthly Stdev 3.91% 5.49%
Monthly variance 0% 0%
Monthly covariance 0% 0%
Beta -14% 100%
Correlation -20% 100%
Sharpe ratio 0.18 0.25

Chart Title
6.00%

5.00%

4.00%

3.00%

2.00%

1.00%

0.00%
1 2 3 4 5 6 7 8 9 10 11 12 13
4.00%

3.00%

2.00%

1.00%

0.00%
1 2 3 4 5 6 7 8 9 10 11 12 13
P1 P2 P3 P4 P5 P6 P7 P8 P9 P10
1 0.9 0.8 0.7 0.6 0.5 0.4 0.3 0.2 0.1
0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9
Passive Portfolio Returns

P1 P2 P3 P4 P5 P6 P7 P8 P9 P10
2.74% 2.75% 2.76% 2.77% 2.77% 2.78% 2.79% 2.80% 2.81% 2.82%
-1.46% -0.97% -0.48% 0.00% 0.49% 0.98% 1.46% 1.95% 2.44% 2.93%
-1.84% -1.00% -0.16% 0.67% 1.51% 2.34% 3.18% 4.02% 4.85% 5.69%
2.11% 2.04% 1.97% 1.90% 1.83% 1.76% 1.69% 1.62% 1.55% 1.49%
-5.09% -4.39% -3.70% -3.00% -2.30% -1.61% -0.91% -0.22% 0.48% 1.17%
4.49% 4.74% 4.98% 5.23% 5.48% 5.73% 5.98% 6.23% 6.47% 6.72%
4.01% 3.65% 3.29% 2.93% 2.57% 2.21% 1.85% 1.49% 1.13% 0.77%
-2.66% -2.28% -1.91% -1.53% -1.16% -0.79% -0.41% -0.04% 0.34% 0.71%
-7.30% -5.79% -4.28% -2.78% -1.27% 0.24% 1.75% 3.25% 4.76% 6.27%
-2.19% -2.16% -2.13% -2.09% -2.06% -2.03% -2.00% -1.97% -1.94% -1.91%
4.66% 4.94% 5.22% 5.50% 5.78% 6.06% 6.34% 6.62% 6.90% 7.18%
-5.47% -3.74% -2.00% -0.27% 1.47% 3.20% 4.93% 6.67% 8.40% 10.14%
0.73% 0.91% 1.09% 1.28% 1.46% 1.65% 1.83% 2.02% 2.20% 2.38%
-2.73% -2.49% -2.25% -2.01% -1.77% -1.53% -1.29% -1.05% -0.80% -0.56%
-3.26% -2.56% -1.87% -1.17% -0.47% 0.23% 0.93% 1.63% 2.32% 3.02%
9.35% 9.08% 8.81% 8.53% 8.26% 7.99% 7.71% 7.44% 7.17% 6.89%
3.52% 4.00% 4.48% 4.97% 5.45% 5.93% 6.41% 6.89% 7.38% 7.86%
4.60% 3.90% 3.20% 2.51% 1.81% 1.11% 0.41% -0.28% -0.98% -1.68%
4.54% 5.54% 6.54% 7.53% 8.53% 9.53% 10.53% 11.53% 12.53% 13.52%
2.89% 0.18% -2.54% -5.25% -7.96% -10.68% -13.39% -16.10% -18.82% -21.53%
0.84% 0.12% -0.60% -1.31% -2.03% -2.75% -3.47% -4.19% -4.91% -5.62%
4.65% 4.17% 3.69% 3.22% 2.74% 2.27% 1.79% 1.32% 0.84% 0.36%
2.90% 2.67% 2.44% 2.21% 1.98% 1.75% 1.52% 1.29% 1.06% 0.83%
-1.61% -1.33% -1.04% -0.75% -0.46% -0.17% 0.12% 0.41% 0.70% 0.99%
3.36% 3.40% 3.44% 3.47% 3.51% 3.55% 3.59% 3.62% 3.66% 3.70%
-5.33% -4.39% -3.45% -2.52% -1.58% -0.64% 0.30% 1.23% 2.17% 3.11%
9.14% 8.15% 7.16% 6.17% 5.19% 4.20% 3.21% 2.22% 1.23% 0.24%
1.80% 0.99% 0.17% -0.64% -1.46% -2.27% -3.09% -3.90% -4.72% -5.53%
6.01% 5.26% 4.51% 3.76% 3.01% 2.26% 1.50% 0.75% 0.00% -0.75%
1.13% 1.16% 1.20% 1.23% 1.26% 1.29% 1.33% 1.36% 1.39% 1.42%
-0.76% -0.68% -0.60% -0.53% -0.45% -0.38% -0.30% -0.22% -0.15% -0.07%
-3.70% -2.54% -1.38% -0.22% 0.94% 2.10% 3.26% 4.42% 5.58% 6.74%
-0.35% -0.37% -0.38% -0.40% -0.42% -0.44% -0.46% -0.48% -0.50% -0.51%
5.16% 4.46% 3.76% 3.07% 2.37% 1.67% 0.98% 0.28% -0.42% -1.12%
3.79% 3.48% 3.17% 2.86% 2.54% 2.23% 1.92% 1.61% 1.29% 0.98%
-5.41% -4.46% -3.52% -2.57% -1.62% -0.67% 0.27% 1.22% 2.17% 3.12%
3.14% 2.43% 1.72% 1.01% 0.30% -0.42% -1.13% -1.84% -2.55% -3.26%
1.15% 0.15% -0.84% -1.83% -2.82% -3.81% -4.80% -5.79% -6.78% -7.78%
0.84% 1.11% 1.38% 1.65% 1.92% 2.19% 2.46% 2.73% 3.00% 3.27%
-2.50% -1.72% -0.94% -0.15% 0.63% 1.41% 2.20% 2.98% 3.76% 4.54%
-2.61% -2.51% -2.41% -2.32% -2.22% -2.12% -2.03% -1.93% -1.83% -1.74%
 -0.17% -0.35% -0.52% -0.69% -0.87% -1.04% -1.21% -1.39% -1.56% -1.73%
1.58% 2.08% 2.58% 3.08% 3.57% 4.07% 4.57% 5.07% 5.56% 6.06%
-0.16% -0.52% -0.88% -1.24% -1.61% -1.97% -2.33% -2.69% -3.05% -3.41%
1.38% 0.79% 0.20% -0.38% -0.97% -1.56% -2.15% -2.73% -3.32% -3.91%
2.98% 2.90% 2.82% 2.74% 2.66% 2.58% 2.50% 2.42% 2.34% 2.26%
0.03% 0.40% 0.76% 1.13% 1.49% 1.85% 2.22% 2.58% 2.94% 3.31%
-0.41% -0.37% -0.32% -0.28% -0.24% -0.20% -0.16% -0.12% -0.07% -0.03%
-1.86% -1.03% -0.20% 0.63% 1.46% 2.29% 3.12% 3.95% 4.78% 5.61%
-0.61% -0.66% -0.71% -0.76% -0.81% -0.85% -0.90% -0.95% -1.00% -1.04%
3.44% 2.98% 2.53% 2.07% 1.62% 1.16% 0.70% 0.25% -0.21% -0.66%
0.19% 0.73% 1.26% 1.80% 2.33% 2.87% 3.40% 3.94% 4.47% 5.01%
-2.25% -2.05% -1.85% -1.65% -1.44% -1.24% -1.04% -0.84% -0.64% -0.43%
0.18% 0.33% 0.47% 0.62% 0.77% 0.92% 1.07% 1.22% 1.37% 1.51%
0.46% 0.68% 0.91% 1.14% 1.37% 1.60% 1.83% 2.06% 2.29% 2.51%
-3.27% -2.57% -1.87% -1.17% -0.48% 0.22% 0.92% 1.62% 2.31% 3.01%
2.69% 2.87% 3.04% 3.22% 3.40% 3.58% 3.76% 3.93% 4.11% 4.29%
4.75% 4.84% 4.94% 5.03% 5.12% 5.21% 5.31% 5.40% 5.49% 5.59%
-2.67% -2.54% -2.41% -2.28% -2.15% -2.02% -1.89% -1.76% -1.63% -1.49%
-5.71% -5.70% -5.69% -5.68% -5.67% -5.67% -5.66% -5.65% -5.64% -5.63%
-3.33% -2.85% -2.37% -1.90% -1.42% -0.94% -0.47% 0.01% 0.49% 0.96%
0.45% 0.28% 0.11% -0.07% -0.24% -0.41% -0.59% -0.76% -0.93% -1.11%
-2.76% -2.26% -1.77% -1.27% -0.78% -0.28% 0.21% 0.71% 1.20% 1.70%
0.31% 0.78% 1.25% 1.72% 2.19% 2.66% 3.13% 3.59% 4.06% 4.53%
7.82% 7.30% 6.78% 6.25% 5.73% 5.21% 4.69% 4.17% 3.64% 3.12%
-5.19% -4.35% -3.50% -2.66% -1.81% -0.96% -0.12% 0.73% 1.58% 2.42%
5.27% 4.95% 4.64% 4.32% 4.01% 3.69% 3.38% 3.06% 2.75% 2.43%
-3.46% -2.05% -0.64% 0.78% 2.19% 3.60% 5.02% 6.43% 7.85% 9.26%
10.35% 8.51% 6.67% 4.83% 2.99% 1.16% -0.68% -2.52% -4.36% -6.20%
6.95% 5.69% 4.42% 3.15% 1.88% 0.61% -0.66% -1.92% -3.19% -4.46%
0.72% 0.78% 0.85% 0.91% 0.97% 1.04% 1.10% 1.16% 1.23% 1.29%
3.91% 3.45% 3.10% 2.90% 2.88% 3.04% 3.35% 3.79% 4.30% 4.87%
0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
-14% -3% 9% 20% 32% 43% 54% 66% 77% 89%
-20% -4% 16% 38% 60% 78% 89% 95% 98% 100%
0.18 0.23 0.27 0.31 0.3377 0.3409 0.33 0.31 0.28 0.26

0 11 12 13
0 11 12 13
P11
0
1

P11
2.82%
3.41%
6.53%
1.42%
1.87%
6.97%
0.41%
1.09%
7.78%
-1.87%
7.46%
11.87%
2.57%
-0.32%
3.72%
6.62%
8.34%
-2.38%
14.52%
-24.25%
-6.34%
-0.11%
0.60%
1.28%
3.73%
4.05%
-0.75%
-6.35%
-1.50%
1.46%
0.01%
7.90%
-0.53%
-1.81%
0.67%
4.06%
-3.98%
-8.77%
3.54%
5.33%
-1.64%
-1.91%
6.56%
-3.78%
-4.50%
2.18%
3.67%
0.01%
6.44%
-1.09%
-1.12%
5.54%
-0.23%
1.66%
2.74%
3.71%
4.47%
5.68%
-1.36%
-5.63%
1.44%
-1.28%
2.19%
5.00%
2.60%
3.27%
2.11%
10.67%
-8.04%
-5.73%
1.35%
5.49%
0%
0%
100%
100%
0.25
Date GTB HCI AFL PIL DNL BIL AACL FIL BFL
### 529.9 246.2 556.05 2412.95 2505.45 3752.45 3780.6 232.3 7400.2
### 614.75 256.8 539.15 2381.95 2406.55 3948.95 3825.55 208.8 7668.1
### 429.55 256.92 562.6 2280.35 2283.6 3997.5 4277.15 164.26 7524.5
### 404.6 256.97 629.14 2278.8 2039.2 3423.4 4386.45 173.11 6228.1
### 318.45 245.32 540.52 2146.06 1803.47 3649.65 3590.54 179.91 6006.15
### 254.35 244.1 590.03 2082.89 1780.39 3447.85 3661.97 166.26 5618.87
### 246.6 230.22 482.04 1809.15 1860.36 3436.24 3383.16 147.92 5443.11
### 203.65 226.82 410.4 1802.77 1651.85 3552.85 2274.97 124.4 5141.54
### 228.35 225.61 473.33 1679.78 1364.81 3296.75 2017.27 119.92 5256.41
### 237.35 214.29 503.78 1664.13 968.82 3431.37 1906.66 112.88 4726.91
### 251 220.17 517.59 1759.18 939.2 3505.12 1526.62 126.37 5286.66

### 267.85 202.21 516.5 1536.9 862.67 3565.49 1600.38 123.4 4900.88
### 244.55 179.29 477.09 1564.65 740.17 3404.07 1182.91 102.19 3303.66
### 214.6 181.28 492.49 1429 818.89 3722.5 1279.09 98.2 3273.31
### 183.81 177.91 513.43 1397.66 681.53 3651.84 1237.23 98.85 3482.17
### 176.77 173.91 442.25 1352.03 641.34 3667.63 892.91 90.07 3246.06
### 205.84 166.35 499.47 1367.08 473.72 3456.79 836.56 97.42 2826.43
### 174.09 153.2 409.97 1463.02 496.7 3241.02 795.43 83.13 1950.5
### 148.7 146.44 428.34 1521.41 504.73 3036.61 710.61 78.56 2314.36
### 96.42 133.24 291.32 1351.43 383.97 2551 477.7 76.82 2212.23
### 127.77 188.71 452.72 1500.93 456.18 2817.82 599.91 104.31 4448.42
### 59.57 188.1 647.81 1499.89 378.85 3036.49 517.8 107.66 4348.86
### 58.73 164.33 571.4 1375.75 368.48 2872.46 427.97 104.9 4218.22
### 46.62 177.48 500.56 1292.52 332.73 2900.83 422.72 111.52 4058.3
### 43.6 174.31 443.66 1390.33 336.97 3099.01 350.14 116.25 4011.83
### 43.65 175.43 359.47 1432.14 295.15 2793.1 347.07 114.46 4030.26
### 38.59 180.33 311.14 1366.62 272.09 2563.05 300.44 94.84 3319.5
### 36.16 177.54 302.43 1230.62 274.36 2457.12 281.33 99.19 3239.36
### 39.68 178.87 339.84 1198.39 286.51 2587.95 320.07 95.47 3660.32
### 39.88 189.78 360.95 1272.59 309 2756.08 322.86 93.25 3447.53
### 39.93 167.31 350.23 1218.22 258.95 2731.65 329.82 87.34 3078.47
### 38.98 166.49 394.96 1229.77 268.8 2910.35 325.1 92.14 3007.92
### 29.61 139.71 323.32 1137.21 228.01 2883.37 277.39 89.37 2634.05
### 31.2 135.77 344.62 1104.94 215.07 3016.18 293.33 96.73 2560.31
### 30.75 138.61 372.59 1093.2 216.79 2938.55 313.49 102.55 2630.22
### 31.89 138.29 330.08 1147.91 252.62 2989.82 298.64 104.3 2523.37
### 33.23 128.8 385.11 946.17 243.65 2661.85 237.99 102.95 2369.1
### 34.92 131.12 373.95 1032.02 289.83 2746.46 224.04 98.91 2155.76
### 38.04 148.9 407.66 1153.19 256.15 3177.17 254.19 116.87 2840.47
### 35.51 143.74 467.71 1102.78 236.93 3085.41 247.34 106.12 2682.67
### 34.32 124.54 512.9 1043.93 237.75 2919.15 248.75 106.92 2279.47
### 34.77 137.06 518.74 1136.3 238.04 2783.01 251.58 114.33 2094.39
### 42.16 139.16 788.8 1066.22 262.47 2590.04 276.16 121.29 1893.68
### 41.37 127.77 709.93 900.91 241.7 2335.13 229.35 122.07 1754.56
### 44.79 142.98 761.79 884.37 254.23 2346.24 242.01 120.84 1628.19
### 51.48 139.88 704.37 879.81 271.14 2200.56 272.01 119.64 1665.51
### 56.94 137.37 805.08 885.6 225.71 2212.35 258.48 122.06 1743.79
### 64.28 139.79 829.78 826.71 203.43 2262.32 227.84 120.2 1714.35
### 43.65 133.33 896.35 767.42 211.72 2179.59 238.52 132.53 1787.36
### 43.35 106.73 644.82 779.88 189.2 2040.88 167.01 117.46 1824.54
### 43.75 108.95 586.92 820.52 174.08 1987.65 160.8 113.07 1768.8
### 45.18 113.59 516.95 776.68 158.24 1842.32 156.84 112.34 1690.58
### 42.21 110.45 472.74 786.19 157.36 1723.71 144.29 109.64 1359.5
### 44.04 115.75 442.94 751.6 136.62 1650.18 146.58 110.58 1313.8
### 50.44 121.49 276.25 702.46 132.37 1693.11 191.54 104.96 1263.56
### 51.43 109.92 233.08 682.31 126.95 1576.07 172.6 105.13 1159.5
### 52.43 101.05 213.47 665.72 103.93 1508.53 140.87 97.64 1097.22
### 48.01 103.65 177.33 657.28 103.69 1462.3 120.61 89.91 1026.63
### 47.47 96.9 154.87 575.59 88.99 1348.26 116.84 78.99 833.86
### 48.21 100.87 161.84 624.97 90.63 1416.74 118.17 80.19 910.69
### 57.88 128.46 168.49 707.93 110.7 1548.84 129.77 84.1 1069.7
### 48.11 116.28 165.71 665.18 115.15 1571.4 118.84 81.9 1045.44
### 49.5 121.62 173.55 681.72 109.74 1616.5 120.6 88.23 1090.2
### 52.13 111.69 189.6 712.69 99.58 1370.44 128.72 85.59 1026.99
### 55.8 104.36 164.5 702.06 82.45 1279.77 138.62 75.98 791.1
### 52.28 89.97 145.52 688.75 78.68 1255.3 118.29 68.97 750.75
### 50.59 84.49 137.57 588.11 66.93 1327.85 118.48 64.32 675.59
### 50.39 71.69 124.2 574.7 64.97 1246.17 118.9 64.73 685
### 42.26 56.68 112.86 568.61 56.99 1278.52 110.14 54.59 585.22
### 63.04 61.89 122.87 548.83 62.96 1247.53 121.19 56.51 584.86
### 80.05 71.34 137.28 535.46 70.27 1375.95 139.37 53.45 592.9
 GOI 5YR
Bond
Gold NIFTY 500 Monthly
TCS P&G Index Index Yield GTB HCI
3547.65 14298.6 15674.62 15477.6 0.004792 -13.80% -4.13%
3768.32 14073.8 15256.16 15052.65 0.004717 43.11% -0.05%
3779.2 13873.6 15481.8 14555.9 0.004709 6.17% -0.02%
3161.38 12680.6 15771.27 13664.25 0.004774 27.05% 4.75%
3332.07 13307.1 15444.97 13473.55 0.004766 25.20% 0.50%
3146.23 13127.45 16272.63 13226.35 0.004661 3.14% 6.03%
3008.52 13400.92 15573.65 12364.35 0.004811 21.09% 1.50%
3149.45 12540.84 14973.19 12313.7 0.004972 -10.82% 0.54%
2868.43 12778.37 15381.85 12181.4 0.005023 -3.79% 5.28%
3083.54 11108.51 16592.93 11302.4 0.004571 -5.44% -2.67%
2831.78 10878.75 16964.09 11518.3 0.004203 -6.29% 8.88%

2650.66 10336.01 16208.76 10719.05 0.004233 9.53% 12.78%

2636.02 9921.33 17146.63 9581.65 0.004309 13.96% -1.10%
2454.87 9677.7 17023.19 9341.75 0.004494 16.75% 1.89%
2223.35 9716.76 17501.16 9372.05 0.004563 3.98% 2.30%
2247.14 10071.89 18091.52 9035.75 0.004158 -14.12% 4.54%
2046.29 9877.11 16543.87 8474.8 0.004401 18.24% 8.58%
1932.7 9625.74 15981.35 7822.4 0.004522 17.07% 4.62%
1973.95 10270.71 15278.89 8012.9 0.004773 54.22% 9.91%
1789.39 9991.62 14615.42 6996.75 0.005148 -24.54% -29.39%
1945.73 10835.91 14204.68 9236.05 0.005173 114.49% 0.32%
2022.48 10694.49 14086.29 9861.45 0.005488 1.43% 14.46%
2098.11 11137.42 13460.92 9872.55 0.005391 25.98% -7.41%
1992.85 11091.74 13080.93 9813.65 0.00516 6.93% 1.82%
2202.89 11859.74 13295.59 9689.65 0.005184 -0.11% -0.64%
1992.84 11747.12 12863.07 9340.9 0.005312 13.11% -2.72%
2145.01 9890.36 13587.14 8977.55 0.005212 6.72% 1.57%
2093.85 10561.66 12449.37 9044.95 0.005253 -8.87% -0.74%
2109.33 10380.02 12229.28 9657.95 0.005639 -0.50% -5.75%
2063.61 10639.79 11535.7 9805.05 0.005703 -0.13% 13.43%
2123.54 9884.79 11406.59 9664.3 0.006113 2.44% 0.49%
1880.5 10495.01 11493.52 9663.7 0.005778 31.64% 19.17%
1863.4 10426.28 11935.03 8955.95 0.005908 -5.10% 2.90%
1892.2 9560.92 11976.65 9003.85 0.006114 1.46% -2.05%
1774.67 9537.14 11389.41 9170 0.005993 -3.57% 0.23%
1845.17 9234.4 10973.25 9109.15 0.006223 -4.03% 7.37%
1816.95 9001.96 11601.15 8753.45 0.006522 -4.84% -1.77%
2042.84 9338.93 11247.43 9116 0.006727 -8.20% -11.94%
1944.33 9869.55 11119.98 9992 0.006674 7.12% 3.59%
1815.05 9934.17 11027.34 9650.6 0.006582 3.47% 15.42%
1725.09 9536.14 11310.45 9162.45 0.006683 -1.29% -9.13%
1625.47 8937.29 11612.99 9315.35 0.006611 -17.53% -1.51%
1635.2 9163.28 11632.93 9496.5 0.006483 1.91% 8.91%
1319.03 9181.59 11451.52 8912.1 0.006163 -7.64% -10.64%
1405.09 9024.97 11469.67 9261.9 0.006293 -13.00% 2.22%
1440.88 8908.66 11313.74 9697.9 0.006163 -9.59% 1.83%
1247.58 9027.9 10986.32 9490.65 0.005923 -11.42% -1.73%
1217.93 9032.18 10982.55 9154.5 0.005751 47.26% 4.85%
1211.92 8310.13 11027.57 9153.6 0.005624 0.69% 24.92%
1122.01 8111.93 11236.75 8600 0.005537 -0.91% -2.04%
1149.83 7940.32 11306.15 8694.95 0.005413 -3.17% -4.08%
1147.74 7703.48 10930.23 8793.3 0.005464 7.04% 2.84%
1085.06 7685.47 10909.14 8331.6 0.005504 -4.16% -4.58%
1156.75 7137.64 11160.4 8350.95 0.005681 -12.69% -4.72%
1032.54 6741.15 11140.69 8214.3 0.00577 -1.92% 10.53%
1104.6 6945.47 11090.14 7995.05 0.005635 -1.91% 8.78%
1120.25 6488.11 11464.69 7709.1 0.005666 9.21% -2.51%
1012.85 6361.77 11164.56 7379.3 0.005435 1.14% 6.97%
1071.46 6480.65 10658.25 6982.8 0.005476 -1.53% -3.94%
1030.92 6045.75 10950.29 7079.4 0.005198 -16.71% -21.48%
1083.01 6411.68 11612.97 7501.45 0.005588 20.31% 10.47%
1098.06 6191.37 12012.73 7394.85 0.005733 -2.81% -4.39%
1134.43 6069.32 11958.77 7490.65 0.005849 -5.05% 8.89%
1183.21 5995.99 12298.18 7330 0.005873 -6.58% 7.02%
1150.33 5698.21 12260.18 6980.8 0.00616 6.73% 15.99%
1145.79 5635.98 11370.89 6804 0.006244 3.34% 6.49%
1130.67 5744.84 11993.93 6588.55 0.0062 0.40% 17.85%
1123.89 5717.41 11393.56 6452.15 0.006195 19.24% 26.48%
970.71 5250.82 11802.33 5829.95 0.006369 -32.96% -8.42%
1066.37 5054.12 10695.4 6339.45 0.00632 -21.25% -13.25%
1084.06 5122.13 10000 6724.75 0.0065

GTB HCI
Average return 4.36% 2.22%
Average Stdev 20.55% 9.30%
Avergae Sharpe ratio 0.23 0.28
Aveerage Variance 4.22% 0.87%
Aveerage covariance 0.28% 0.37%
Beta 0.94 1.23

GTB HCI
Average return 66.91% 30.09%
Average Stdev 71.18% 32.22%
Avergae Sharpe ratio 1.00 1.07
Aveerage Variance 50.67% 10.38%
 Return Matrix

AFL PIL DNL BIL AACL FIL BFL TCS P&G GOLD
3.13% 1.30% 4.11% -4.98% -1.17% 11.25% -3.49% -5.86% 1.60% 2.74%
-4.17% 4.46% 5.38% -1.21% -10.56% 27.12% 1.91% -0.29% 1.44% -1.46%
-10.58% 0.07% 11.99% 16.77% -2.49% -5.11% 20.82% 19.54% 9.41% -1.84%
16.40% 6.19% 13.07% -6.20% 22.17% -3.78% 3.70% -5.12% -4.71% 2.11%
-8.39% 3.03% 1.30% 5.85% -1.95% 8.21% 6.89% 5.91% 1.37% -5.09%
22.40% 15.13% -4.30% 0.34% 8.24% 12.40% 3.23% 4.58% -2.04% 4.49%
17.46% 0.35% 12.62% -3.28% 48.71% 18.91% 5.87% -4.47% 6.86% 4.01%
-13.30% 7.32% 21.03% 7.77% 12.77% 3.74% -2.19% 9.80% -1.86% -2.66%
-6.04% 0.94% 40.87% -3.92% 5.80% 6.24% 11.20% -6.98% 15.03% -7.30%
-2.67% -5.40% 3.15% -2.10% 24.89% -10.68% -10.59% 8.89% 2.11% -2.19%
0.21% 14.46% 8.87% -1.69% -4.61% 2.41% 7.87% 6.83% 5.25% 4.66%

8.26% -1.77% 16.55% 4.74% 35.29% 20.76% 48.35% 0.56% 4.18% -5.47%
-3.13% 9.49% -9.61% -8.55% -7.52% 4.06% 0.93% 7.38% 2.52% 0.73%
-4.08% 2.24% 20.15% 1.93% 3.38% -0.66% -6.00% 10.41% -0.40% -2.73%
16.09% 3.37% 6.27% -0.43% 38.56% 9.75% 7.27% -1.06% -3.53% -3.26%
-11.46% -1.10% 35.38% 6.10% 6.74% -7.54% 14.85% 9.82% 1.97% 9.35%
21.83% -6.56% -4.63% 6.66% 5.17% 17.19% 44.91% 5.88% 2.61% 3.52%
-4.29% -3.84% -1.59% 6.73% 11.94% 5.82% -15.72% -2.09% -6.28% 4.60%
47.03% 12.58% 31.45% 19.04% 48.76% 2.27% 4.62% 10.31% 2.79% 4.54%
-35.65% -9.96% -15.83% -9.47% -20.37% -26.35% -50.27% -8.04% -7.79% 2.89%
-30.12% 0.07% 20.41% -7.20% 15.86% -3.11% 2.29% -3.79% 1.32% 0.84%
13.37% 9.02% 2.81% 5.71% 20.99% 2.63% 3.10% -3.60% -3.98% 4.65%
14.15% 6.44% 10.74% -0.98% 1.24% -5.94% 3.94% 5.28% 0.41% 2.90%
12.83% -7.04% -1.26% -6.39% 20.73% -4.07% 1.16% -9.53% -6.48% -1.61%
23.42% -2.92% 14.17% 10.95% 0.88% 1.56% -0.46% 10.54% 0.96% 3.36%
15.53% 4.79% 8.48% 8.98% 15.52% 20.69% 21.41% -7.09% 18.77% -5.33%
2.88% 11.05% -0.83% 4.31% 6.79% -4.39% 2.47% 2.44% -6.36% 9.14%
-11.01% 2.69% -4.24% -5.06% -12.10% 3.90% -11.50% -0.73% 1.75% 1.80%
-5.85% -5.83% -7.28% -6.10% -0.86% 2.38% 6.17% 2.22% -2.44% 6.01%
3.06% 4.46% 19.33% 0.89% -2.11% 6.77% 11.99% -2.82% 7.64% 1.13%
-11.33% -0.94% -3.66% -6.14% 1.45% -5.21% 2.35% 12.92% -5.81% -0.76%
22.16% 8.14% 17.89% 0.94% 17.20% 3.10% 14.19% 0.92% 0.66% -3.70%
-6.18% 2.92% 6.02% -4.40% -5.43% -7.61% 2.88% -1.52% 9.05% -0.35%
-7.51% 1.07% -0.79% 2.64% -6.43% -5.68% -2.66% 6.62% 0.25% 5.16%
12.88% -4.77% -14.18% -1.71% 4.97% -1.68% 4.23% -3.82% 3.28% 3.79%
-14.29% 21.32% 3.68% 12.32% 25.48% 1.31% 6.51% 1.55% 2.58% -5.41%
2.98% -8.32% -15.93% -3.08% 6.23% 4.08% 9.90% -11.06% -3.61% 3.14%
-8.27% -10.51% 13.15% -13.56% -11.86% -15.37% -24.11% 5.07% -5.38% 1.15%
 -12.84% 4.57% 8.11% 2.97% 2.77% 10.13% 5.88% 7.12% -0.65% 0.84%
-8.81% 5.64% -0.34% 5.70% -0.57% -0.75% 17.69% 5.21% 4.17% -2.50%
-1.13% -8.13% -0.12% 4.89% -1.12% -6.48% 8.84% 6.13% 6.70% -2.61%
-34.24% 6.57% -9.31% 7.45% -8.90% -5.74% 10.60% -0.60% -2.47% -0.17%
11.11% 18.35% 8.59% 10.92% 20.41% -0.64% 7.93% 23.97% -0.20% 1.58%
-6.81% 1.87% -4.93% -0.47% -5.23% 1.02% 7.76% -6.12% 1.74% -0.16%
8.15% 0.52% -6.24% 6.62% -11.03% 1.00% -2.24% -2.48% 1.31% 1.38%
-12.51% -0.65% 20.13% -0.53% 5.23% -1.98% -4.49% 15.49% -1.32% 2.98%
-2.98% 7.12% 10.95% -2.21% 13.45% 1.55% 1.72% 2.43% -0.05% 0.03%
-7.43% 7.73% -3.92% 3.80% -4.48% -9.30% -4.08% 0.50% 8.69% -0.41%
39.01% -1.60% 11.90% 6.80% 42.82% 12.83% -2.04% 8.01% 2.44% -1.86%
9.87% -4.95% 8.69% 2.68% 3.86% 3.88% 3.15% -2.42% 2.16% -0.61%
13.54% 5.64% 10.01% 7.89% 2.52% 0.65% 4.63% 0.18% 3.07% 3.44%
9.35% -1.21% 0.56% 6.88% 8.70% 2.46% 24.35% 5.78% 0.23% 0.19%
6.73% 4.60% 15.18% 4.46% -1.56% -0.85% 3.48% -6.20% 7.68% -2.25%
60.34% 7.00% 3.21% -2.54% -23.47% 5.35% 3.98% 12.03% 5.88% 0.18%
18.52% 2.95% 4.27% 7.43% 10.97% -0.16% 8.97% -6.52% -2.94% 0.46%
9.19% 2.49% 22.15% 4.48% 22.52% 7.67% 5.68% -1.40% 7.05% -3.27%
20.38% 1.28% 0.23% 3.16% 16.80% 8.60% 6.88% 10.60% 1.99% 2.69%
14.50% 14.19% 16.52% 8.46% 3.23% 13.82% 23.12% -5.47% -1.83% 4.75%
-4.31% -7.90% -1.81% -4.83% -1.13% -1.50% -8.44% 3.93% 7.19% -2.67%
-3.95% -11.72% -18.13% -8.53% -8.94% -4.65% -14.86% -4.81% -5.71% -5.71%
1.68% 6.43% -3.86% -1.44% 9.20% 2.69% 2.32% -1.37% 3.56% -3.33%
-4.52% -2.43% 4.93% -2.79% -1.46% -7.17% -4.11% -3.21% 2.01% 0.45%
-8.47% -4.35% 10.20% 17.95% -6.31% 3.08% 6.15% -4.12% 1.22% -2.76%
15.26% 1.51% 20.78% 7.08% -7.14% 12.65% 29.82% 2.86% 5.23% 0.31%
13.04% 1.93% 4.79% 1.95% 17.19% 10.16% 5.37% 0.40% 1.10% 7.82%
5.78% 17.11% 17.56% -5.46% -0.16% 7.23% 11.13% 1.34% -1.89% -5.19%
10.76% 2.33% 3.02% 6.55% -0.35% -0.63% -1.37% 0.60% 0.48% 5.27%
10.05% 1.07% 14.00% -2.53% 7.95% 18.57% 17.05% 15.78% 8.89% -3.46%
-8.15% 3.60% -9.48% 2.48% -9.12% -3.40% 0.06% -8.97% 3.89% 10.35%
-10.50% 2.50% -10.40% -9.33% -13.04% 5.72% -1.36% -1.63% -1.33% 6.95%

MONTHY DESC. STAT WHOLE PERIOD

AFL PIL DNL BIL AACL FIL BFL TCS P&G GOLD
3.26% 2.40% 5.89% 1.66% 5.80% 2.50% 4.59% 1.95% 1.59% 0.72%
16.27% 6.90% 11.87% 6.69% 14.89% 8.87% 13.38% 7.19% 4.91% 3.91%
0.22 0.40 0.53 0.30 0.41 0.32 0.37 0.32 0.40 0.28
2.65% 0.48% 1.41% 0.45% 2.22% 0.79% 1.79% 0.52% 0.24% 0.15%
0.47% 0.16% 0.34% 0.18% 0.40% 0.29% 0.54% 0.16% 0.10% -0.04%
1.56 0.53 1.14 0.59 1.32 0.95 1.79 0.54 0.33 -0.14
ANNUALISED DESC. STAT WHOLE PERIOD

AFL PIL DNL BIL AACL FIL BFL TCS P&G GOLD
47.01% 32.94% 98.63% 21.83% 96.68% 34.53% 71.43% 26.11% 20.87% 8.97%
56.35% 23.91% 41.13% 23.17% 51.56% 30.71% 46.36% 24.89% 17.01% 13.53%
0.91 1.56 2.50 1.13 1.96 1.27 1.63 1.22 1.48 0.98
31.75% 5.72% 16.92% 5.37% 26.59% 9.43% 21.49% 6.20% 2.90% 1.83%
 Whole Period Monthly Excess Return Matrix

NIFTY500 MBY GTB HCI AFL PIL DNL BIL AACL

2.82% 1.59% -18.16% -6.34% -0.13% -1.10% -1.78% -6.64% -6.97%
3.41% 0.16% 38.75% -2.26% -7.43% 2.05% -0.50% -2.87% -16.36%
6.53% -1.36% 1.80% -2.24% -13.84% -2.33% 6.10% 15.11% -8.29%
1.42% 0.17% 22.69% 2.53% 13.13% 3.78% 7.19% -7.86% 16.37%
1.87% 2.25% 20.84% -1.72% -11.65% 0.63% -4.59% 4.19% -7.75%
6.97% -3.12% -1.22% 3.81% 19.14% 12.73% -10.18% -1.32% 2.44%
0.41% -3.23% 16.73% -0.72% 14.19% -2.05% 6.74% -4.94% 42.91%
1.09% -1.03% -15.18% -1.68% -16.56% 4.92% 15.15% 6.11% 6.98%
7.78% 9.90% -8.15% 3.07% -9.31% -1.46% 34.99% -5.58% 0.00%
-1.87% 8.74% -9.80% -4.89% -5.93% -7.80% -2.73% -3.76% 19.10%
7.46% -0.71% -10.65% 6.67% -3.05% 12.06% 2.99% -3.35% -10.41%

11.87% -1.76% 5.17% 10.57% 5.00% -4.17% 10.66% 3.08% 29.49%

2.57% -4.12% 9.59% -3.31% -6.39% 7.09% -15.50% -10.21% -13.32%
-0.32% -1.52% 12.39% -0.32% -7.34% -0.16% 14.27% 0.28% -2.42%
3.72% 9.76% -0.38% 0.08% 12.83% 0.97% 0.38% -2.09% 32.76%
6.62% -5.53% -18.48% 2.33% -14.72% -3.50% 29.50% 4.44% 0.94%
8.34% -2.67% 13.88% 6.37% 18.57% -8.96% -10.51% 5.00% -0.63%
-2.38% -5.26% 12.71% 2.40% -7.55% -6.24% -7.48% 5.07% 6.14%
14.52% -7.29% 49.86% 7.69% 43.77% 10.18% 25.56% 17.38% 42.96%
-24.25% -0.50% -28.90% -31.61% -38.91% -12.36% -21.71% -11.13% -26.17%
-6.34% -5.74% 110.13% -1.89% -33.38% -2.33% 14.53% -8.86% 10.06%
-0.11% 1.81% -2.93% 12.25% 10.11% 6.62% -3.07% 4.05% 15.19%
0.60% 4.47% 21.61% -9.63% 10.89% 4.04% 4.86% -2.64% -4.56%
1.28% -0.47% 2.57% -0.40% 9.56% -9.44% -7.14% -8.05% 14.93%
3.73% -2.40% -4.48% -2.85% 20.16% -5.32% 8.28% 9.29% -4.91%
4.05% 1.92% 8.75% -4.93% 12.27% 2.39% 2.59% 7.32% 9.72%
-0.75% -0.78% 2.36% -0.64% -0.38% 8.65% -6.71% 2.65% 0.99%
-6.35% -6.86% -13.23% -2.96% -14.27% 0.29% -10.13% -6.71% -17.90%
-1.50% -1.11% -4.86% -7.97% -9.11% -8.23% -13.16% -7.76% -6.66%
1.46% -6.72% -4.49% 11.21% -0.20% 2.06% 13.44% -0.76% -7.91%
0.01% 5.81% -1.92% -1.72% -14.59% -3.34% -9.55% -7.80% -4.35%
7.90% -2.21% 27.28% 16.95% 18.89% 5.74% 12.00% -0.72% 11.40%
-0.53% -3.37% -9.46% 0.69% -9.44% 0.52% 0.13% -6.06% -11.23%
-1.81% 2.03% -2.90% -4.27% -10.77% -1.33% -6.68% 0.98% -12.23%
0.67% -3.70% -7.94% -1.98% 9.62% -7.17% -20.07% -3.37% -0.83%
4.06% -4.59% -8.39% 5.15% -17.55% 18.92% -2.20% 10.66% 19.69%
-3.98% -3.05% -9.20% -3.99% -0.28% -10.72% -21.82% -4.74% 0.43%
-8.77% 0.79% -12.56% -14.16% -11.53% -12.91% 7.26% -15.22% -17.66%
 3.54% 1.41% 2.76% 1.37% -16.10% 2.17% 2.23% 1.32% -3.03%
5.33% -1.52% -0.89% 13.20% -12.07% 3.24% -6.23% 4.04% -6.37%
-1.64% 1.10% -5.66% -11.35% -4.39% -10.53% -6.01% 3.23% -6.92%
-1.91% 1.98% -21.89% -3.73% -37.50% 4.17% -15.19% 5.79% -14.70%
6.56% 5.19% -2.45% 6.70% 7.85% 15.95% 2.71% 9.26% 14.61%
-3.78% -2.08% -12.00% -12.85% -10.07% -0.53% -10.81% -2.13% -11.03%
-4.50% 2.12% -17.36% 0.00% 4.89% -1.88% -12.12% 4.96% -16.83%
2.18% 4.04% -13.95% -0.39% -15.77% -3.05% 14.24% -2.19% -0.56%
3.67% 3.00% -15.78% -3.95% -6.24% 4.72% 5.07% -3.87% 7.65%
0.01% 2.25% 42.90% 2.63% -10.69% 5.32% -9.80% 2.14% -10.28%
6.44% 1.58% -3.67% 22.71% 35.74% -4.00% 6.02% 5.14% 37.02%
-1.09% 2.28% -5.28% -4.25% 6.60% -7.35% 2.80% 1.02% -1.94%
-1.12% -0.93% -7.53% -6.30% 10.27% 3.24% 4.12% 6.23% -3.27%
5.54% -0.73% 2.67% 0.63% 6.09% -3.61% -5.33% 5.22% 2.90%
-0.23% -3.11% -8.52% -6.80% 3.46% 2.20% 9.30% 2.80% -7.36%
1.66% -1.55% -17.05% -6.94% 57.08% 4.59% -2.67% -4.19% -29.27%
2.74% 2.40% -6.29% 8.31% 15.26% 0.55% -1.62% 5.77% 5.17%
3.71% -0.54% -6.27% 6.56% 5.92% 0.09% 16.26% 2.82% 16.73%
4.47% 4.25% 4.84% -4.72% 17.12% -1.12% -5.65% 1.50% 11.00%
5.68% -0.75% -3.22% 4.75% 11.24% 11.79% 10.63% 6.80% -2.57%
-1.36% 5.36% -5.90% -6.15% -7.57% -10.30% -7.69% -6.49% -6.92%
-5.63% -6.99% -21.07% -23.69% -7.21% -14.12% -24.02% -10.19% -14.74%
1.44% -2.53% 15.95% 8.26% -1.59% 4.03% -9.75% -3.09% 3.40%
-1.28% -1.98% -7.17% -6.61% -7.78% -4.83% -0.96% -4.45% -7.26%
2.19% -0.41% -9.41% 6.67% -11.73% -6.75% 4.32% 16.30% -12.11%
5.00% -4.65% -10.94% 4.81% 12.00% -0.89% 14.89% 5.43% -12.94%
2.60% -1.35% 2.37% 13.78% 9.78% -0.47% -1.09% 0.29% 11.39%
3.27% 0.71% -1.02% 4.27% 2.52% 14.71% 11.67% -7.12% -5.96%
2.11% 0.08% -3.96% 15.64% 7.50% -0.07% -2.87% 4.90% -6.15%
10.67% -2.73% 14.88% 24.27% 6.78% -1.33% 8.12% -4.19% 2.15%
-8.04% 0.78% -37.32% -10.63% -11.41% 1.20% -15.37% 0.83% -14.92%
-5.73% -2.77% -25.61% -15.46% -13.76% 0.10% -16.29% -10.99% -18.84%

NIFTY500 MBY
1.35% -0.37% rf
5.49% 3.69%
0.31 0.00
0.30% 0.14%
0.30% 0.00%
1.00 0.01

NIFTY500 MBY
17.50% -4.33%
19.00% 12.79%
1.15 0.00
3.61% 1.64%
 N-1 69
hly Excess Return Matrix Annualised Variance Covariance matrix of the Activ

FIL BFL TCS P&G GOLD GTB HCI AFL

8.75% -8.09% -7.81% 0.01% 2.02% GTB 0.5067 0.066206 0.036903
24.61% -2.69% -2.24% -0.15% -2.18% HCI 0.066206 0.103832 0.070014
-7.62% 16.22% 17.59% 7.82% -2.55% AFL 0.036903 0.070014 0.317526
-6.28% -0.90% -7.07% -6.30% 1.39% PIL 0.025903 0.029483 0.024788
5.71% 2.30% 3.95% -0.22% -5.80% DNL 0.076529 0.054707 0.04496
9.90% -1.36% 2.63% -3.63% 3.77% BIL 0.007718 0.030766 0.03215
16.40% 1.27% -6.43% 5.27% 3.29% AACL 0.13075 0.079583 0.115865
1.23% -6.78% 7.85% -3.45% -3.38% FIL 0.042683 0.046258 0.074569
3.73% 6.61% -8.93% 13.44% -8.02% BFL 0.055427 0.076434 0.083534
-13.18% -15.18% 6.94% 0.52% -2.91% TCS 0.012985 0.017507 0.0177
-0.10% 3.28% 4.88% 3.66% 3.94% P&G 0.012158 0.011766 0.014336

18.25% 43.75% -1.40% 2.59% -6.19% Gold Index -0.011618 -0.004244 0.00511
1.56% -3.67% 5.43% 0.93% 0.01%
-3.16% -10.59% 8.46% -1.99% -3.45%
7.25% 2.68% -3.01% -5.12% -3.98%
-10.05% 10.25% 7.86% 0.38% 8.64%
14.69% 40.31% 3.93% 1.02% 2.80%
3.31% -20.32% -4.04% -7.87% 3.88%
-0.24% 0.02% 8.36% 1.20% 3.82%
-28.86% -54.86% -9.99% -9.38% 2.17%
-5.61% -2.30% -5.75% -0.27% 0.12%
0.13% -1.50% -5.56% -5.57% 3.93%
-8.44% -0.65% 3.33% -1.18% 2.19%
-6.57% -3.44% -11.49% -8.07% -2.33%
-0.94% -5.05% 8.59% -0.63% 2.64%
18.18% 16.82% -9.05% 17.18% -6.05%
-6.89% -2.12% 0.49% -7.95% 8.42%
1.39% -16.09% -2.69% 0.16% 1.08%
-0.12% 1.58% 0.26% -4.03% 5.29%
4.26% 7.39% -4.77% 6.05% 0.41%
-7.71% -2.25% 10.97% -7.41% -1.47%
0.60% 9.60% -1.03% -0.93% -4.42%
-10.11% -1.71% -3.47% 7.46% -1.07%
-8.18% -7.25% 4.67% -1.34% 4.44%
-4.18% -0.36% -5.77% 1.69% 3.07%
-1.19% 1.92% -0.40% 0.99% -6.13%
1.58% 5.30% -13.01% -5.20% 2.43%
-17.87% -28.70% 3.11% -6.97% 0.43%
 7.63% 1.29% 5.17% -2.24% 0.12%
-3.25% 13.09% 3.26% 2.58% -3.22%
-8.98% 4.24% 4.18% 5.11% -3.32%
-8.24% 6.01% -2.55% -4.06% -0.89%
-3.14% 3.34% 22.02% -1.79% 0.87%
-1.48% 3.17% -8.08% 0.14% -0.88%
-1.50% -6.83% -4.44% -0.29% 0.66%
-4.49% -9.08% 13.54% -2.91% 2.26%
-0.96% -2.88% 0.48% -1.64% -0.68%
-11.81% -8.68% -1.46% 7.10% -1.13%
10.33% -6.63% 6.06% 0.85% -2.58%
1.38% -1.44% -4.37% 0.57% -1.33%
-1.85% 0.03% -1.77% 1.48% 2.72%
-0.04% 19.76% 3.82% -1.36% -0.53%
-3.35% -1.12% -8.15% 6.08% -2.97%
2.85% -0.62% 10.08% 4.29% -0.54%
-2.66% 4.38% -8.48% -4.53% -0.26%
5.17% 1.08% -3.35% 5.46% -3.99%
6.09% 2.28% 8.65% 0.39% 1.97%
11.32% 18.52% -7.42% -3.43% 4.03%
-4.00% -13.03% 1.98% 5.60% -3.39%
-7.15% -19.46% -6.76% -7.30% -6.42%
0.18% -2.27% -3.32% 1.97% -4.05%
-9.68% -8.70% -5.16% 0.42% -0.27%
0.58% 1.56% -6.07% -0.37% -3.48%
10.15% 25.22% 0.91% 3.63% -0.41%
7.66% 0.78% -1.56% -0.49% 7.10%
4.73% 6.53% -0.61% -3.49% -5.91%
-3.14% -5.97% -1.35% -1.11% 4.55%
16.07% 12.46% 13.83% 7.29% -4.18%
-5.90% -4.53% -10.92% 2.30% 9.63%
3.22% -5.95% -3.58% -2.92% 6.24%
Covariance matrix of the Active Portfolio for the whole Period

Gold Sl. Of
PIL DNL BIL AACL FIL BFL TCS P&G Index Stocks
0.025903 0.076529 0.007718 0.13075 0.042683 0.055427 0.012985 0.012158 -0.011618 1
0.029483 0.054707 0.030766 0.079583 0.046258 0.076434 0.017507 0.011766 -0.004244 2
0.024788 0.04496 0.03215 0.115865 0.074569 0.083534 0.0177 0.014336 0.00511 3
0.05716 0.02393 0.016383 0.020776 0.016777 0.025689 0.011185 0.003897 0.00123 4
0.02393 0.169165 0.026713 0.079285 0.026159 0.055482 0.024636 0.023942 -0.01036 5
0.016383 0.026713 0.053671 0.032278 0.013751 0.045432 0.01494 0.008786 -0.000136 6
0.020776 0.079285 0.032278 0.265892 0.051077 0.062665 0.007727 0.001888 -0.007407 7
0.016777 0.026159 0.013751 0.051077 0.094312 0.083333 -0.00162 0.016307 -0.006289 8
0.025689 0.055482 0.045432 0.062665 0.083333 0.214947 0.014258 0.030716 -0.009023 9
0.011185 0.024636 0.01494 0.007727 -0.00162 0.014258 0.061961 0.002234 -0.000384 10
0.003897 0.023942 0.008786 0.001888 0.016307 0.030716 0.002234 0.028951 -0.007515 11

0.00123 -0.01036 -0.000136 -0.007407 -0.006289 -0.009023 -0.000384 -0.007515 0.018308 12

 Portfolio optimisation
Eq. WeightMax returnMin Stdev

P.Avg
No. of Avg. Avg. Sharpe P.STDEV< Ret>=46.3
assets Return Stdev Ratio constraints =98.68% 3%
GTB 66.91% 71.18% 0.84 w1 0.083333 0.083333 0.083333
HCI 30.09% 32.22% 0.72 w2 0.083333 0.083333 0.083333
AFL 47.01% 56.35% 0.71 w3 0.083333 0.083333 0.083333
PIL 32.94% 23.91% 1.09 w4 0.083333 0.083333 0.083333
DNL 98.63% 41.13% 2.23 w5 0.083333 0.083333 0.083333
BIL 21.83% 23.17% 0.65 w6 0.083333 0.083333 0.083333
AACL 96.68% 51.56% 1.74 w7 0.083333 0.083333 0.083333
FIL 34.53% 30.71% 0.90 w8 0.083333 0.083333 0.083333
BFL 71.43% 46.36% 1.39 w9 0.083333 0.083333 0.083333
TCS 26.11% 24.89% 0.77 w10 0.083333 0.083333 0.083333
P&G 20.87% 17.01% 0.83 W11 0.083333 0.083333 0.083333
Gold
Index 8.97% 13.53% 0.16 W12 0.083333 0.083333 0.083333
total weight 1 1 1
portfolio Mean ret 46.3% 46.3% 46.3%
RF portfolio stdev 20.2% 20.2% 20.2%
6.82% portfolio Sharpe ra 1.960089 1.960089 1.960089
Max. Sharpe ratio

0
0
0
0.082799
0.252899
0
0.121888
0
0.080386
0.048392
0.078917

0.334719
1
51.1%
16.8%
2.636319