Equity Research Project

7/29/2019 Equity Research Project

http://slidepdf.com/reader/full/equity-research-project 1/39

Date VFC 25.00% Plus 100% QCOM 22.00% Plus 100% BAC 18.00%

1/2/2008 55.87 34.6 36.34

1/7/2008 62.5 11.87%111.87%

36.09 4.31%104.31%

35.11 -3.38%

1/14/2008 59.56 -4.70% 95.30% 35.83 -0.72% 99.28% 32.8 -6.58%

1/22/2008 64.72 8.66% 108.66% 37.37 4.30% 104.30% 36 9.76%

1/28/2008 69.87 7.96% 107.96% 39.43 5.51% 105.51% 41.06 14.06%

2/4/2008 69.84 -0.04% 99.96% 39.17 -0.66% 99.34% 38.45 -6.36%

2/11/2008 69.38 -0.66% 99.34% 39.43 0.66% 100.66% 38.94 1.27%

2/19/2008 68.66 -1.04% 98.96% 40.62 3.02% 103.02% 38.85 -0.23%

2/25/2008 66.6 -3.00% 97.00% 39.74 -2.17% 97.83% 36.24 -6.72%

3/3/2008 65.78 -1.23% 98.77% 37.72 -5.08% 94.92% 34.07 -5.99%

3/10/2008 67.31 2.33% 102.33% 36.77 -2.52% 97.48% 33.09 -2.88%

3/17/2008 69.65 3.48% 103.48% 35.87 -2.45% 97.55% 38.81 17.29%

3/24/2008 66.87 -3.99% 96.01% 37.63 4.91% 104.91% 35.3 -9.04%

3/31/2008 69.07 3.29% 103.29% 39.42 4.76% 104.76% 36.54 3.51%

4/7/2008 67.13 -2.81% 97.19% 38.81 -1.55% 98.45% 34.25 -6.27%

4/14/2008 69.61 3.69% 103.69% 39.89 2.78% 102.78% 35.75 4.38%

4/21/2008 67.45 -3.10% 96.90% 40.53 1.60% 101.60% 35.51 -0.67%4/28/2008 68.31 1.28% 101.28% 41.55 2.52% 102.52% 36.89 3.89%

5/5/2008 64.87 -5.04% 94.96% 40.98 -1.37% 98.63% 33.98 -7.89%

5/12/2008 68.14 5.04% 105.04% 43.96 7.27% 107.27% 33.54 -1.29%

5/19/2008 65.11 -4.45% 95.55% 44.77 1.84% 101.84% 31.46 -6.20%

5/27/2008 66.81 2.61% 102.61% 45.65 1.97% 101.97% 31.53 0.22%

6/2/2008 64.73 -3.11% 96.89% 44.33 -2.89% 97.11% 28.83 -8.56%

6/9/2008 64.73 0.00% 100.00% 47.01 6.05% 106.05% 28.15 -2.36%

6/16/2008 62.03 -4.17% 95.83% 45.64 -2.91% 97.09% 25.62 -8.99%

6/23/2008 64.14 3.40% 103.40% 42.93 -5.94% 94.06% 23.25 -9.25%

6/30/2008 66.25 3.29% 103.29% 42.37 -1.30% 98.70% 21.18 -8.90%



11/10/2008 42.28 -8.58% 91.42% 31.07 -7.64% 92.36% 15.83 -19.89%

11/17/2008 38.33 -9.34% 90.66% 28.46 -8.40% 91.60% 11.06 -30.13%

11/24/2008 46.83 22.18% 122.18% 31.67 11.28% 111.28% 15.67 41.68%

12/1/2008 49.58 5.87% 105.87% 30.09 -4.99% 95.01% 15.03 -4.08%12/8/2008 48.06 -3.07% 96.93% 32.15 6.85% 106.85% 14.72 -2.06%

12/15/2008 50.37 4.81% 104.81% 33.2 3.27% 103.27% 13.61 -7.54%

12/22/2008 49.31 -2.10% 97.90% 32.63 -1.72% 98.28% 13.18 -3.16%

12/29/2008 51.51 4.46% 104.46% 35.12 7.63% 107.63% 14.13 7.21%

1/5/2009 47.1 -8.56% 91.44% 33.17 -5.55% 94.45% 12.81 -9.34%

1/12/2009 50.84 7.94% 107.94% 34.14 2.92% 102.92% 7.08 -44.73%

1/20/2009 49.55 -2.54% 97.46% 34.66 1.52% 101.52% 6.15 -13.14%

1/26/2009 50.74 2.40% 102.40% 32.75 -5.51% 94.49% 6.49 5.53%

2/2/2009 52.96 4.38% 104.38% 34.42 5.10% 105.10% 6.05 -6.78%

2/9/2009 47.92 -9.52% 90.48% 33.82 -1.74% 98.26% 5.49 -9.26%

2/17/2009 48.24 0.67% 100.67% 32.29 -4.52% 95.48% 3.74 -31.88%

2/23/2009 47.01 -2.55% 97.45% 31.83 -1.42% 98.58% 3.9 4.28%

3/2/2009 43.69 -7.06% 92.94% 32.02 0.60% 100.60% 3.11 -20.26%

3/9/2009 49.14 12.47% 112.47% 34.99 9.28% 109.28% 5.7 83.28%

3/16/2009 50.91 3.60% 103.60% 35.29 0.86% 100.86% 6.12 7.37%3/23/2009 53.63 5.34% 105.34% 37.08 5.07% 105.07% 7.26 18.63%

3/30/2009 59.02 10.05% 110.05% 39.22 5.77% 105.77% 7.52 3.58%

4/6/2009 60.57 2.63% 102.63% 39.66 1.12% 101.12% 9.44 25.53%

4/13/2009 60.84 0.45% 100.45% 39.02 -1.61% 98.39% 10.48 11.02%

4/20/2009 63.2 3.88% 103.88% 39.38 0.92% 100.92% 9 -14.12%

4/27/2009 54.15 -14.32% 85.68% 40.62 3.15% 103.15% 8.6 -4.44%

5/4/2009 53.25 -1.66% 98.34% 39.79 -2.04% 97.96% 14.01 62.91%5/11/2009 49.87 -6.35% 93.65% 38.77 -2.56% 97.44% 10.55 -24.70%

5/18/2009 50.09 0.44% 100.44% 39.34 1.47% 101.47% 10.95 3.79%

5/26/2009 52.1 4.01% 104.01% 41.67 5.92% 105.92% 11.15 1.83%



10/5/2009 69.84 8.11% 108.11% 40.01 0.63% 100.63% 17.33 7.11%

10/12/2009 71.12 1.83% 101.83% 40.26 0.62% 100.62% 17.09 -1.38%

10/19/2009 73.16 2.87% 102.87% 39.05 -3.01% 96.99% 16.06 -6.03%

10/26/2009 66.36 -9.29% 90.71% 39.65 1.54% 101.54% 14.44 -10.09%11/2/2009 69.56 4.82% 104.82% 42.12 6.23% 106.23% 14.91 3.25%

11/9/2009 69.57 0.01% 100.01% 43.91 4.25% 104.25% 15.83 6.17%

11/16/2009 67.69 -2.70% 97.30% 43.27 -1.46% 98.54% 15.94 0.69%

11/23/2009 67.56 -0.19% 99.81% 43.33 0.14% 100.14% 15.32 -3.89%

11/30/2009 68.38 1.21% 101.21% 43.49 0.37% 100.37% 16.13 5.29%

12/7/2009 69.11 1.07% 101.07% 43.24 -0.57% 99.43% 15.49 -3.97%

12/14/2009 68.13 -1.42% 98.58% 42.92 -0.74% 99.26% 14.9 -3.81%

12/21/2009 69.47 1.97% 101.97% 44.4 3.45% 103.45% 15.11 1.41%

12/28/2009 68.98 -0.71% 99.29% 44.55 0.34% 100.34% 14.93 -1.19%

1/4/2010 71.13 3.12% 103.12% 47.64 6.94% 106.94% 16.63 11.39%

1/11/2010 70.28 -1.19% 98.81% 46.74 -1.89% 98.11% 16.11 -3.13%

1/19/2010 68.23 -2.92% 97.08% 45.05 -3.62% 96.38% 14.77 -8.32%

1/25/2010 67.84 -0.57% 99.43% 37.74 -16.23% 83.77% 15.04 1.83%

2/1/2010 67.36 -0.71% 99.29% 36.64 -2.91% 97.09% 14.87 -1.13%

2/8/2010 69.64 3.38% 103.38% 37.41 2.10% 102.10% 14.32 -3.70%2/16/2010 72.18 3.65% 103.65% 38.13 1.92% 101.92% 15.74 9.92%

2/22/2010 72.88 0.97% 100.97% 35.48 -6.95% 93.05% 16.51 4.89%

3/1/2010 74.77 2.59% 102.59% 37.49 5.67% 105.67% 16.56 0.30%

3/8/2010 75.58 1.08% 101.08% 37.68 0.51% 100.51% 16.71 0.91%

3/15/2010 75.66 0.11% 100.11% 38.74 2.81% 102.81% 16.68 -0.18%

3/22/2010 76.41 0.99% 100.99% 40.46 4.44% 104.44% 17.75 6.41%

3/29/2010 76.9 0.64% 100.64% 40.89 1.06% 101.06% 17.89 0.79%4/5/2010 79.4 3.25% 103.25% 40.79 -0.24% 99.76% 18.44 3.07%

4/12/2010 78.32 -1.36% 98.64% 41.34 1.35% 101.35% 18.26 -0.98%

4/19/2010 82.25 5.02% 105.02% 37 -10.50% 89.50% 18.28 0.11%



8/30/2010 72.29 2.31% 102.31% 39.47 4.50% 104.50% 13.41 6.94%

9/7/2010 72.81 0.72% 100.72% 39.51 0.10% 100.10% 13.46 0.37%

9/13/2010 74.71 2.61% 102.61% 41.57 5.21% 105.21% 13.31 -1.11%

9/20/2010 76.19 1.98% 101.98% 43.54 4.74% 104.74% 13.51 1.50%9/27/2010 77.93 2.28% 102.28% 43.26 -0.64% 99.36% 13.21 -2.22%

10/4/2010 81.31 4.34% 104.34% 43.75 1.13% 101.13% 13.09 -0.91%

10/11/2010 82.89 1.94% 101.94% 43.78 0.07% 100.07% 11.9 -9.09%

10/18/2010 82.92 0.04% 100.04% 43.18 -1.37% 98.63% 11.36 -4.54%

10/25/2010 80.26 -3.21% 96.79% 44.14 2.22% 102.22% 11.37 0.09%

11/1/2010 81.93 2.08% 102.08% 47.24 7.02% 107.02% 12.27 7.92%

11/8/2010 76.52 -6.60% 93.40% 46.4 -1.78% 98.22% 12.04 -1.87%

11/15/2010 79.6 4.03% 104.03% 46.88 1.03% 101.03% 11.58 -3.82%

11/22/2010 80.82 1.53% 101.53% 46.81 -0.15% 99.85% 11.04 -4.66%

11/29/2010 81.92 1.36% 101.36% 47.91 2.35% 102.35% 11.79 6.79%

12/6/2010 83.58 2.03% 102.03% 48.55 1.34% 101.34% 12.72 7.89%

12/13/2010 86.65 3.67% 103.67% 48.53 -0.04% 99.96% 12.49 -1.81%

12/20/2010 84.4 -2.60% 97.40% 48.52 -0.02% 99.98% 12.98 3.92%

12/27/2010 83.71 -0.82% 99.18% 48.56 0.08% 100.08% 13.26 2.16%

1/3/2011 79.76 -4.72% 95.28% 50.76 4.53% 104.53% 14.16 6.79%1/10/2011 81.55 2.24% 102.24% 51.07 0.61% 100.61% 15.16 7.06%

1/18/2011 79.71 -2.26% 97.74% 50.28 -1.55% 98.45% 14.16 -6.60%

1/24/2011 79.12 -0.74% 99.26% 52.73 4.87% 104.87% 13.52 -4.52%

1/31/2011 84.44 6.72% 106.72% 54.2 2.79% 102.79% 14.2 5.03%

2/7/2011 84.63 0.23% 100.23% 56.52 4.28% 104.28% 14.68 3.38%

2/14/2011 87.23 3.07% 103.07% 58.08 2.76% 102.76% 14.66 -0.14%

2/22/2011 93.23 6.88% 106.88% 58.11 0.05% 100.05% 14.11 -3.75%2/28/2011 92.95 -0.30% 99.70% 57.25 -1.48% 98.52% 14.05 -0.43%

3/7/2011 95.98 3.26% 103.26% 52.78 -7.81% 92.19% 14.3 1.78%

3/14/2011 90.93 -5.26% 94.74% 50.91 -3.54% 96.46% 13.97 -2.31%



7/25/2011 114.97 -3.07% 96.93% 54.14 -4.67% 95.33% 9.67 -4.16%

8/1/2011 109.62 -4.65% 95.35% 50.42 -6.87% 93.13% 8.13 -15.93%

8/8/2011 109.41 -0.19% 99.81% 49.91 -1.01% 98.99% 7.16 -11.93%

8/15/2011 102.58 -6.24% 93.76% 45.97 -7.89% 92.11% 6.94 -3.07%8/22/2011 112.28 9.46% 109.46% 48.58 5.68% 105.68% 7.73 11.38%

8/29/2011 110.79 -1.33% 98.67% 49.32 1.52% 101.52% 7.23 -6.47%

9/6/2011 112.25 1.32% 101.32% 50.03 1.44% 101.44% 6.96 -3.73%

9/12/2011 123.42 9.95% 109.95% 53.48 6.90% 106.90% 7.21 3.59%

9/19/2011 123.82 0.32% 100.32% 49.92 -6.66% 93.34% 6.29 -12.76%

9/26/2011 120.29 -2.85% 97.15% 48.28 -3.29% 96.71% 6.1 -3.02%

10/3/2011 128.17 6.55% 106.55% 49.86 3.27% 103.27% 5.88 -3.61%

10/10/2011 132.59 3.45% 103.45% 54.58 9.47% 109.47% 6.17 4.93%

10/17/2011 131.35 -0.94% 99.06% 51.64 -5.39% 94.61% 6.44 4.38%

10/24/2011 138.75 5.63% 105.63% 52.84 2.32% 102.32% 7.33 13.82%

10/31/2011 135.57 -2.29% 97.71% 56.09 6.15% 106.15% 6.47 -11.73%

11/7/2011 134.77 -0.59% 99.41% 56.21 0.21% 100.21% 6.19 -4.33%

11/14/2011 130.42 -3.23% 96.77% 55.26 -1.69% 98.31% 5.76 -6.95%

11/21/2011 124.96 -4.19% 95.81% 51.68 -6.48% 93.52% 5.15 -10.59%

11/28/2011 137.17 9.77% 109.77% 54.15 4.78% 104.78% 5.63 9.32%12/5/2011 135.97 -0.87% 99.13% 54.99 1.55% 101.55% 5.71 1.42%

12/12/2011 127.84 -5.98% 94.02% 52.43 -4.66% 95.34% 5.19 -9.11%

12/19/2011 128.37 0.41% 100.41% 54.44 3.83% 103.83% 5.59 7.71%

12/27/2011 126.36 -1.57% 98.43% 54.51 0.13% 100.13% 5.55 -0.72%

1/3/2012 133.01 5.26% 105.26% 55.97 2.68% 102.68% 6.17 11.17%

1/9/2012 131.28 -1.30% 98.70% 56.35 0.68% 100.68% 6.6 6.97%

1/17/2012 132.87 1.21% 101.21% 57.53 2.09% 102.09% 7.06 6.97%1/23/2012 130.16 -2.04% 97.96% 57.59 0.10% 100.10% 7.28 3.12%

1/30/2012 132.73 1.97% 101.97% 60.85 5.66% 105.66% 7.83 7.55%

2/6/2012 140.32 5.72% 105.72% 61.52 1.10% 101.10% 8.06 2.94%



SE

Prob(mean<0)

RFR data from http://www.federalreserve.gov/datadownload/Build.aspx?rel=H15all other data from http://www.finance.yahoo.com

Time Period 1

Median NOTHING IS REQUIRE IN THE SHADED SECTION

Mean

Geomean

SD

RFR

Sharpe Ratio

SE

Prob(mean<0)

Time Period 2

MedianMean

Geomean

SD

RFR

Sharpe Ratio

SE

Prob(mean<0)



Plus 100% XOM 15.00% Plus 100% EMC 12.00% Plus 100% JNJ 8.00%

83.48 16.99 57.2

96.62% 81.87 -1.93% 98.07% 16 -5.83% 94.17% 58.98 3.11%

93.42% 77.14 -5.78% 94.22% 16.98 6.13% 106.13% 57.59 -2.36%

109.76% 76.1 -1.35% 98.65% 16.72 -1.53% 98.47% 54.27 -5.76%

114.06% 77.92 2.39% 102.39% 16.13 -3.53% 96.47% 55.05 1.44%

93.64% 74.4 -4.52% 95.48% 15.48 -4.03% 95.97% 53.89 -2.11%

101.27% 77.73 4.48% 104.48% 15.9 2.71% 102.71% 54.65 1.41%

99.77% 79.37 2.11% 102.11% 15.28 -3.90% 96.10% 55.26 1.12%

93.28% 79.23 -0.18% 99.82% 15.54 1.70% 101.70% 54.19 -1.94%

94.01% 75.11 -5.20% 94.80% 15.03 -3.28% 96.72% 53.8 -0.72%

97.12% 78.22 4.14% 104.14% 14.79 -1.60% 98.40% 54.79 1.84%

117.29% 77.4 -1.05% 98.95% 14.63 -1.08% 98.92% 57.18 4.36%

90.96% 77.6 0.26% 100.26% 14.3 -2.26% 97.74% 56.13 -1.84%

103.51% 80.8 4.12% 104.12% 14.98 4.76% 104.76% 57.49 2.42%

93.73% 80.69 -0.14% 99.86% 14.88 -0.67% 99.33% 57.72 0.40%

104.38% 85.59 6.07% 106.07% 15.52 4.30% 104.30% 58.17 0.78%

99.33% 84.19 -1.64% 98.36% 15.54 0.13% 100.13% 58.87 1.20%103.89% 81.59 -3.09% 96.91% 16.1 3.60% 103.60% 59.7 1.41%

92.11% 81.23 -0.44% 99.56% 15.96 -0.87% 99.13% 58.2 -2.51%

98.71% 84.76 4.35% 104.35% 17.72 11.03% 111.03% 58.32 0.21%

93.80% 82.95 -2.14% 97.86% 17.06 -3.72% 96.28% 57.18 -1.95%

100.22% 81.18 -2.13% 97.87% 17.44 2.23% 102.23% 58.78 2.80%

91.44% 79.38 -2.22% 97.78% 17.12 -1.83% 98.17% 57.92 -1.46%

97.64% 80.81 1.80% 101.80% 16.49 -3.68% 96.32% 58.37 0.78%

91.01% 77.66 -3.90% 96.10% 16.1 -2.37% 97.63% 56.42 -3.34%

90.75% 79.16 1.93% 101.93% 14.77 -8.26% 91.74% 55.99 -0.76%

91.10% 80.73 1.98% 101.98% 15.05 1.90% 101.90% 57.35 2.43%



80.11% 68.12 -0.37% 99.63% 9.98 -8.36% 91.64% 53.23 -0.28%

69.87% 70.09 2.89% 102.89% 9.3 -6.81% 93.19% 52.16 -2.01%

141.68% 74.1 5.72% 105.72% 10.57 13.66% 113.66% 52.36 0.38%

95.92% 70.82 -4.43% 95.57% 10.81 2.27% 102.27% 52.05 -0.59%97.94% 74.38 5.03% 105.03% 10.77 -0.37% 99.63% 51.17 -1.69%

92.46% 69.36 -6.75% 93.25% 10.94 1.58% 101.58% 52.59 2.78%

96.84% 71.37 2.90% 102.90% 10.31 -5.76% 94.24% 52.34 -0.48%

107.21% 75.48 5.76% 105.76% 10.86 5.33% 105.33% 54.21 3.57%

90.66% 71.72 -4.98% 95.02% 11.75 8.20% 108.20% 52.78 -2.64%

55.27% 72.21 0.68% 100.68% 11.27 -4.09% 95.91% 51.34 -2.73%

86.86% 72.15 -0.08% 99.92% 11.16 -0.98% 99.02% 50.03 -2.55%

105.53% 70.71 -2.00% 98.00% 11.04 -1.08% 98.92% 51.57 3.08%

93.22% 74.65 5.57% 105.57% 11.95 8.24% 108.24% 52.3 1.42%

90.74% 69.31 -7.15% 92.85% 12.06 0.92% 100.92% 51.04 -2.41%

68.12% 66.19 -4.50% 95.50% 11.01 -8.71% 91.29% 49.25 -3.51%

104.28% 63.09 -4.68% 95.32% 10.5 -4.63% 95.37% 45.06 -8.51%

79.74% 59.5 -5.69% 94.31% 9.93 -5.43% 94.57% 43.23 -4.06%

183.28% 62.44 4.94% 104.94% 10.68 7.55% 107.55% 45.64 5.57%

107.37% 61.41 -1.65% 98.35% 11.29 5.71% 105.71% 46.57 2.04%118.63% 65.03 5.89% 105.89% 11.57 2.48% 102.48% 47.61 2.23%

103.58% 65.45 0.65% 100.65% 12.49 7.95% 107.95% 47 -1.28%

125.53% 64.9 -0.84% 99.16% 13.25 6.08% 106.08% 46.33 -1.43%

111.02% 62.03 -4.42% 95.58% 12.81 -3.32% 96.68% 47.81 3.19%

85.88% 61.86 -0.27% 99.73% 11.96 -6.64% 93.36% 45.89 -4.02%

95.56% 63.2 2.17% 102.17% 12.45 4.10% 104.10% 47.4 3.29%

162.91% 65.79 4.10% 104.10% 12.64 1.53% 101.53% 49.55 4.54%

75.30% 64.6 -1.81% 98.19% 11.94 -5.54% 94.46% 49.94 0.79%

103.79% 64.34 -0.40% 99.60% 11.61 -2.76% 97.24% 49.8 -0.28%

101.83% 64.83 0.76% 100.76% 11.75 1.21% 101.21% 50.15 0.70%



107.11% 65.15 4.04% 104.04% 18.15 8.29% 108.29% 56.59 3.36%

98.62% 68.77 5.56% 105.56% 17.96 -1.05% 98.95% 55.42 -2.07%

93.97% 69.19 0.61% 100.61% 17.49 -2.62% 97.38% 55.49 0.13%

89.91% 67.4 -2.59% 97.41% 16.47 -5.83% 94.17% 54.12 -2.47%103.25% 68.26 1.28% 101.28% 16.73 1.58% 101.58% 55.27 2.12%

106.17% 68.55 0.42% 100.42% 16.88 0.90% 100.90% 56.31 1.88%

100.69% 70.36 2.64% 102.64% 17.04 0.95% 100.95% 57.56 2.22%

96.11% 70.82 0.65% 100.65% 16.75 -1.70% 98.30% 58.1 0.94%

105.29% 70.24 -0.82% 99.18% 17.13 2.27% 102.27% 59.46 2.34%

96.03% 68.89 -1.92% 98.08% 16.65 -2.80% 97.20% 59.91 0.76%

96.19% 64.52 -6.34% 93.66% 17.34 4.14% 104.14% 59.47 -0.73%

101.41% 64.95 0.67% 100.67% 17.85 2.94% 102.94% 59.77 0.50%

98.81% 64.5 -0.69% 99.31% 17.47 -2.13% 97.87% 59.5 -0.45%

111.39% 65.76 1.95% 101.95% 17.66 1.09% 101.09% 59.32 -0.30%

96.87% 65.37 -0.59% 99.41% 17.94 1.59% 101.59% 59.64 0.54%

91.68% 62.53 -4.34% 95.66% 16.76 -6.58% 93.42% 58.39 -2.10%

101.83% 60.95 -2.53% 97.47% 16.67 -0.54% 99.46% 58.07 -0.55%

98.87% 61.3 0.57% 100.57% 16.82 0.90% 100.90% 57.87 -0.34%

96.30% 61.7 0.65% 100.65% 17.12 1.78% 101.78% 57.94 0.12%109.92% 62.72 1.65% 101.65% 17.81 4.03% 104.03% 59.4 2.52%

104.89% 61.89 -1.32% 98.68% 17.49 -1.80% 98.20% 58.65 -1.26%

100.30% 63.29 2.26% 102.26% 17.87 2.17% 102.17% 59.62 1.65%

100.91% 63.6 0.49% 100.49% 18.88 5.65% 105.65% 59.75 0.22%

99.82% 63.83 0.36% 100.36% 18.61 -1.43% 98.57% 60.61 1.44%

106.41% 63.35 -0.75% 99.25% 18.56 -0.27% 99.73% 59.93 -1.12%

100.79% 64.37 1.61% 101.61% 18.18 -2.05% 97.95% 61.23 2.17%

103.07% 65.47 1.71% 101.71% 18.54 1.98% 101.98% 60.64 -0.96%

99.02% 64.68 -1.21% 98.79% 19.36 4.42% 104.42% 60.53 -0.18%

100.11% 65.92 1.92% 101.92% 19.98 3.20% 103.20% 60.55 0.03%



106.94% 59.2 2.55% 102.55% 19.91 8.38% 108.38% 55.88 2.31%

100.37% 59.09 -0.19% 99.81% 19.98 0.35% 100.35% 56.88 1.79%

98.89% 58.68 -0.69% 99.31% 20.57 2.95% 102.95% 58.39 2.65%

101.50% 59.62 1.60% 101.60% 21.64 5.20% 105.20% 58.93 0.92%97.78% 60.38 1.27% 101.27% 20.34 -6.01% 93.99% 58.56 -0.63%

99.09% 62.16 2.95% 102.95% 19.87 -2.31% 97.69% 59.96 2.39%

90.91% 62.94 1.25% 101.25% 21.09 6.14% 106.14% 60.28 0.53%

95.46% 64.05 1.76% 101.76% 21.44 1.66% 101.66% 60.51 0.38%

100.09% 64.19 0.22% 100.22% 21.02 -1.96% 98.04% 60.44 -0.12%

107.92% 67.58 5.28% 105.28% 21.57 2.62% 102.62% 61.31 1.44%

98.13% 68.97 2.06% 102.06% 21.72 0.70% 100.70% 60.38 -1.52%

96.18% 68.53 -0.64% 99.36% 21.82 0.46% 100.46% 60.53 0.25%

95.34% 67.26 -1.85% 98.15% 21.7 -0.55% 99.45% 59.59 -1.55%

106.79% 69.16 2.82% 102.82% 22.13 1.98% 101.98% 59.83 0.40%

107.89% 70.12 1.39% 101.39% 22.25 0.54% 100.54% 59.21 -1.04%

98.19% 70.11 -0.01% 99.99% 22.96 3.19% 103.19% 59.82 1.03%

103.92% 71.12 1.44% 101.44% 23.02 0.26% 100.26% 59.54 -0.47%

102.16% 71.04 -0.11% 99.89% 22.9 -0.52% 99.48% 59.16 -0.64%

106.79% 73.44 3.38% 103.38% 23.47 2.49% 102.49% 59.87 1.20%107.06% 75.62 2.97% 102.97% 24.54 4.56% 104.56% 59.83 -0.07%

93.40% 76.73 1.47% 101.47% 23.98 -2.28% 97.72% 59.93 0.17%

95.48% 76.74 0.01% 100.01% 24.48 2.09% 102.09% 57.4 -4.22%

105.03% 80.91 5.43% 105.43% 25.69 4.94% 104.94% 58.19 1.38%

103.38% 80.89 -0.02% 99.98% 27.04 5.25% 105.25% 58.06 -0.22%

99.86% 82.53 2.03% 102.03% 27.18 0.52% 100.52% 58.45 0.67%

96.25% 83.35 0.99% 100.99% 26.9 -1.03% 98.97% 57.56 -1.52%

99.57% 83.09 -0.31% 99.69% 27.32 1.56% 101.56% 58.93 2.38%

101.78% 80.2 -3.48% 96.52% 26.59 -2.67% 97.33% 57.61 -2.24%

97.69% 78.96 -1.55% 98.45% 25.63 -3.61% 96.39% 56.53 -1.87%



95.84% 78.37 -6.37% 93.63% 26.08 -6.05% 93.95% 63.07 -2.89%

84.07% 73.49 -6.23% 93.77% 22.99 -11.85% 88.15% 61.05 -3.20%

88.07% 71.18 -3.14% 96.86% 23.14 0.65% 100.65% 61.68 1.03%

96.93% 69.01 -3.05% 96.95% 20.28 -12.36% 87.64% 61.46 -0.36%111.38% 71.82 4.07% 104.07% 21.61 6.56% 106.56% 63.13 2.72%

93.53% 71.32 -0.70% 99.30% 21.43 -0.83% 99.17% 62.93 -0.32%

96.27% 70.21 -1.56% 98.44% 21.29 -0.65% 99.35% 62.5 -0.68%

103.59% 73.71 4.99% 104.99% 22.76 6.90% 106.90% 63.44 1.50%

87.24% 68.52 -7.04% 92.96% 20.62 -9.40% 90.60% 60.49 -4.65%

96.98% 71.81 4.80% 104.80% 20.99 1.79% 101.79% 62.55 3.41%

96.39% 72.73 1.28% 101.28% 22.39 6.67% 106.67% 62 -0.88%

104.93% 77.22 6.17% 106.17% 23.09 3.13% 103.13% 63.56 2.52%

104.38% 79.22 2.59% 102.59% 24.03 4.07% 104.07% 62.64 -1.45%

113.82% 80.56 1.69% 101.69% 25.03 4.16% 104.16% 64.43 2.86%

88.27% 77.63 -3.64% 96.36% 24.67 -1.44% 98.56% 62.97 -2.27%

95.67% 79.29 2.14% 102.14% 24.64 -0.12% 99.88% 64.08 1.76%

93.05% 77.48 -2.28% 97.72% 23.07 -6.37% 93.63% 62.71 -2.14%

89.41% 73.5 -5.14% 94.86% 21.88 -5.16% 94.84% 60.73 -3.16%

109.32% 79.36 7.97% 107.97% 23.26 6.31% 106.31% 62.91 3.59%101.42% 80.9 1.94% 101.94% 23.55 1.25% 101.25% 63.96 1.67%

90.89% 79.72 -1.46% 98.54% 22.3 -5.31% 94.69% 63.74 -0.34%

107.71% 84.76 6.32% 106.32% 21.83 -2.11% 97.89% 65.4 2.60%

99.28% 84.3 -0.54% 99.46% 21.54 -1.33% 98.67% 65.01 -0.60%

111.17% 84.66 0.43% 100.43% 22.01 2.18% 102.18% 64.26 -1.15%

106.97% 84.42 -0.28% 99.72% 22.25 1.09% 101.09% 64.69 0.67%

106.97% 87.01 3.07% 103.07% 23.25 4.49% 104.49% 64.7 0.02%

103.12% 85.36 -1.90% 98.10% 25.83 11.10% 111.10% 64.99 0.45%

107.55% 84.46 -1.05% 98.95% 26.39 2.17% 102.17% 65.07 0.12%

102.94% 83.8 -0.78% 99.22% 26.2 -0.72% 99.28% 64.03 -1.60%





Plus 100% Port Plus 100% S&P Plus 100% RFR

1411.63

103.11% 2.57% 102.57% 1401.02 -0.75% 99.25% 0.0619%

97.64% -2.84% 97.16% 1325.19 -5.41% 94.59% 0.0608%

94.24% 4.02% 104.02% 1330.61 0.41% 100.41% 0.0585%

101.44% 5.78% 105.78% 1395.42 4.87% 104.87% 0.0439%

97.89% -2.63% 97.37% 1331.29 -4.60% 95.40% 0.0415%

101.41% 1.32% 101.32% 1349.99 1.40% 101.40% 0.0417%

101.12% 0.30% 100.30% 1353.11 0.23% 100.23% 0.0434%

98.06% -2.41% 97.59% 1330.63 -1.66% 98.34% 0.0424%

99.28% -3.74% 96.26% 1293.37 -2.80% 97.20% 0.0383%

101.84% 0.09% 100.09% 1288.14 -0.40% 99.60% 0.0296%

104.36% 3.50% 103.50% 1329.51 3.21% 103.21% 0.0262%

98.16% -1.93% 98.07% 1315.22 -1.07% 98.93% 0.0157%

102.42% 3.88% 103.88% 1370.4 4.20% 104.20% 0.0247%

100.40% -2.24% 97.76% 1332.83 -2.74% 97.26% 0.0266%

100.78% 3.81% 103.81% 1390.33 4.31% 104.31% 0.0254%

101.20% -0.68% 99.32% 1397.84 0.54% 100.54% 0.0226%101.41% 1.65% 101.65% 1413.9 1.15% 101.15% 0.0247%

97.49% -3.35% 96.65% 1388.28 -1.81% 98.19% 0.0277%

100.21% 4.62% 104.62% 1425.35 2.67% 102.67% 0.0313%

98.05% -2.75% 97.25% 1375.93 -3.47% 96.53% 0.0347%

102.80% 1.30% 101.30% 1400.38 1.78% 101.78% 0.0353%

98.54% -3.63% 96.37% 1360.68 -2.83% 97.17% 0.0360%

100.78% 0.80% 100.80% 1360.03 -0.05% 99.95% 0.0353%

96.66% -4.44% 95.56% 1317.93 -3.10% 96.90% 0.0375%

99.24% -2.88% 97.12% 1278.38 -3.00% 97.00% 0.0371%

102.43% -0.35% 99.65% 1262.9 -1.21% 98.79% 0.0341%



99.72% -8.49% 91.51% 873.29 -6.20% 93.80% 0.0077%

97.99% -10.15% 89.85% 800.03 -8.39% 91.61% 0.0040%

100.38% 18.06% 118.06% 896.24 12.03% 112.03% 0.0013%

99.41% -0.80% 99.20% 876.07 -2.25% 97.75% 0.0013%98.31% 0.94% 100.94% 879.73 0.42% 100.42% 0.0008%

102.78% -0.04% 99.96% 887.88 0.93% 100.93% 0.0004%

99.52% -1.77% 98.23% 872.8 -1.70% 98.30% 0.0006%

103.57% 5.88% 105.88% 931.8 6.76% 106.76% 0.0004%

97.36% -5.02% 94.98% 890.35 -4.45% 95.55% 0.0017%

97.27% -6.03% 93.97% 850.12 -4.52% 95.48% 0.0021%

97.45% -3.00% 97.00% 831.95 -2.14% 97.86% 0.0023%

103.08% 0.20% 100.20% 825.88 -0.73% 99.27% 0.0021%

101.42% 2.93% 102.93% 868.6 5.17% 105.17% 0.0037%

97.59% -5.58% 94.42% 826.84 -4.81% 95.19% 0.0056%

96.49% -8.57% 91.43% 770.05 -6.87% 93.13% 0.0058%

91.49% -2.12% 97.88% 735.09 -4.54% 95.46% 0.0058%

95.94% -7.11% 92.89% 683.38 -7.03% 92.97% 0.0056%

105.57% 22.24% 122.24% 756.55 10.71% 110.71% 0.0046%

102.04% 3.02% 103.02% 768.54 1.58% 101.58% 0.0042%102.23% 7.17% 107.17% 815.94 6.17% 106.17% 0.0042%

98.72% 5.38% 105.38% 842.5 3.26% 103.26% 0.0035%

98.57% 5.99% 105.99% 856.56 1.67% 101.67% 0.0040%

103.19% 0.93% 100.93% 869.6 1.52% 101.52% 0.0037%

95.98% -2.53% 97.47% 866.23 -0.39% 99.61% 0.0029%

103.29% -2.61% 97.39% 877.52 1.30% 101.30% 0.0025%

104.54% 11.62% 111.62% 929.23 5.89% 105.89% 0.0025%

100.79% -7.47% 92.53% 882.88 -4.99% 95.01% 0.0037%

99.72% 0.70% 100.70% 887 0.47% 100.47% 0.0035%

100.70% 2.95% 102.95% 919.14 3.62% 103.62% 0.0035%



103.36% 5.32% 105.32% 1071.49 4.51% 104.51% 0.0023%

97.93% 0.89% 100.89% 1087.68 1.51% 101.51% 0.0015%

100.13% -1.24% 98.76% 1079.6 -0.74% 99.26% 0.0013%

97.53% -5.09% 94.91% 1036.19 -4.02% 95.98% 0.0013%102.12% 3.71% 103.71% 1069.3 3.20% 103.20% 0.0013%

101.88% 2.37% 102.37% 1093.48 2.26% 102.26% 0.0010%

102.22% -0.18% 99.82% 1091.38 -0.19% 99.81% 0.0013%

100.94% -0.75% 99.25% 1091.49 0.01% 100.01% 0.0008%

102.34% 1.67% 101.67% 1105.98 1.33% 101.33% 0.0010%

100.76% -1.14% 98.86% 1106.41 0.04% 100.04% 0.0012%

99.27% -1.72% 98.28% 1102.47 -0.36% 99.64% 0.0006%

100.50% 2.00% 102.00% 1126.48 2.18% 102.18% 0.0008%

99.55% -0.71% 99.29% 1115.1 -1.01% 98.99% 0.0013%

99.70% 4.75% 104.75% 1144.98 2.68% 102.68% 0.0015%

100.54% -1.13% 98.87% 1136.03 -0.78% 99.22% 0.0012%

97.90% -4.63% 95.37% 1091.76 -3.90% 96.10% 0.0010%

99.45% -3.87% 96.13% 1073.87 -1.64% 98.36% 0.0012%

99.66% -0.86% 99.14% 1066.19 -0.72% 99.28% 0.0013%

100.12% 0.96% 100.96% 1075.51 0.87% 100.87% 0.0019%102.52% 4.05% 104.05% 1109.17 3.13% 103.13% 0.0021%

98.74% -0.92% 99.08% 1104.49 -0.42% 99.58% 0.0019%

101.65% 2.68% 102.68% 1138.7 3.10% 103.10% 0.0023%

100.22% 1.31% 101.31% 1149.99 0.99% 100.99% 0.0027%

101.44% 0.61% 100.61% 1159.9 0.86% 100.86% 0.0031%

98.88% 2.14% 102.14% 1166.59 0.58% 100.58% 0.0031%

102.17% 0.71% 100.71% 1178.1 0.99% 100.99% 0.0027%

99.04% 1.73% 101.73% 1194.37 1.38% 101.38% 0.0031%

99.82% 0.12% 100.12% 1192.13 -0.19% 99.81% 0.0033%

100.03% -0.36% 99.64% 1217.28 2.11% 102.11% 0.0031%



102.31% 4.39% 104.39% 1104.51 3.75% 103.75% 0.0031%

101.79% 0.43% 100.43% 1109.55 0.46% 100.46% 0.0027%

102.65% 2.06% 102.06% 1125.59 1.45% 101.45% 0.0027%

100.92% 2.75% 102.75% 1148.67 2.05% 102.05% 0.0029%99.37% -0.55% 99.45% 1146.24 -0.21% 99.79% 0.0031%

102.39% 1.53% 101.53% 1165.15 1.65% 101.65% 0.0031%

100.53% -0.17% 99.83% 1176.19 0.95% 100.95% 0.0025%

100.38% -0.62% 99.38% 1183.08 0.59% 100.59% 0.0027%

99.88% -0.51% 99.49% 1183.26 0.02% 100.02% 0.0027%

101.44% 4.71% 104.71% 1225.85 3.60% 103.60% 0.0025%

98.48% -2.11% 97.89% 1199.21 -2.17% 97.83% 0.0025%

100.25% 0.53% 100.53% 1199.73 0.04% 100.04% 0.0025%

98.45% -0.96% 99.04% 1189.4 -0.86% 99.14% 0.0027%

100.40% 2.77% 102.77% 1224.71 2.97% 102.97% 0.0031%

98.96% 2.41% 102.41% 1240.4 1.28% 101.28% 0.0031%

101.03% 1.05% 101.05% 1243.91 0.28% 100.28% 0.0027%

99.53% 0.26% 100.26% 1256.77 1.03% 101.03% 0.0027%

99.36% 0.07% 100.07% 1257.64 0.07% 100.07% 0.0027%

101.20% 1.94% 101.94% 1271.5 1.10% 101.10% 0.0027%99.93% 2.95% 102.95% 1293.24 1.71% 101.71% 0.0027%

100.17% -2.13% 97.87% 1283.35 -0.76% 99.24% 0.0029%

95.78% -0.01% 99.99% 1276.34 -0.55% 99.45% 0.0031%

101.38% 4.72% 104.72% 1310.87 2.71% 102.71% 0.0031%

99.78% 2.22% 102.22% 1329.15 1.39% 101.39% 0.0029%

100.67% 1.77% 101.77% 1343.01 1.04% 101.04% 0.0027%

98.48% 0.96% 100.96% 1319.88 -1.72% 98.28% 0.0021%

102.38% -0.15% 99.85% 1321.15 0.10% 100.10% 0.0025%

97.76% -1.60% 98.40% 1304.28 -1.28% 98.72% 0.0025%

98.13% -3.33% 96.67% 1279.21 -1.92% 98.08% 0.0019%



97.11% -4.46% 95.54% 1292.28 -3.92% 96.08% 0.0006%

96.80% -8.15% 91.85% 1199.38 -7.19% 92.81% 0.0013%

101.03% -2.73% 97.27% 1178.81 -1.72% 98.28% 0.0008%

99.64% -5.82% 94.18% 1123.53 -4.69% 95.31% 0.0006%102.72% 7.28% 107.28% 1176.8 4.74% 104.74% 0.0004%

99.68% -1.39% 98.61% 1173.97 -0.24% 99.76% 0.0002%

99.32% -0.39% 99.61% 1154.23 -1.68% 98.32% 0.0004%

101.50% 6.35% 106.35% 1216.01 5.35% 105.35% 0.0004%

95.35% -6.24% 93.76% 1136.43 -6.54% 93.46% 0.0002%

103.41% -0.77% 99.23% 1131.42 -0.44% 99.56% 0.0002%

99.12% 2.63% 102.63% 1155.46 2.12% 102.12% 0.0004%

102.52% 5.34% 105.34% 1224.58 5.98% 105.98% 0.0002%

98.55% 0.13% 100.13% 1238.25 1.12% 101.12% 0.0004%

102.86% 5.39% 105.39% 1285.09 3.78% 103.78% 0.0006%

97.73% -2.23% 97.77% 1253.23 -2.48% 97.52% 0.0004%

101.76% -0.43% 99.57% 1263.85 0.85% 100.85% 0.0002%

97.86% -3.71% 96.29% 1215.65 -3.81% 96.19% 0.0002%

96.84% -6.02% 93.98% 1158.67 -4.69% 95.31% 0.0002%

103.59% 7.41% 107.41% 1244.28 7.39% 107.39% 0.0004%101.67% 0.95% 100.95% 1255.19 0.88% 100.88% 0.0004%

99.66% -5.04% 94.96% 1219.66 -2.83% 97.17% 0.0002%

102.60% 3.24% 103.24% 1265.33 3.74% 103.74% 0.0002%

99.40% -0.78% 99.22% 1257.6 -0.61% 99.39% 0.0002%

98.85% 4.15% 104.15% 1277.81 1.61% 101.61% 0.0004%

100.67% 1.22% 101.22% 1289.09 0.88% 100.88% 0.0004%

100.02% 3.02% 103.02% 1315.38 2.04% 102.04% 0.0004%

100.45% 1.16% 101.16% 1316.33 0.07% 100.07% 0.0008%

100.12% 3.21% 103.21% 1344.9 2.17% 102.17% 0.0010%

98.40% 1.87% 101.87% 1342.64 -0.17% 99.83% 0.0013%



0.23%

42.31%

-0.75%

-1.07%

1.18%

4.65%

0.0236% 0.0236% 0.0236%

-23.59%

0.60%

96.43%

0.32%0.46%

0.0020% 0.0020% 0.0020%



Port-RFR S&P-RFR

Port Moving

Avg

S&P Moving

Avg

2.50% -0.81% 15% 4.00% 3/2/2009

-2.90% -5.47% -20% -4.00% 3/2/2009

3.96% 0.35%

5.74% 4.83%

-2.67% -4.64%

1.28% 1.36%

0.26% 0.19%

-2.46% -1.70%

-3.77% -2.84%0.06% -0.43%

3.48% 3.19%

-1.94% -1.09% 0.34% -0.55%

3.86% 4.17% 0.45% -0.14%

-2.27% -2.77% 0.50% 0.09%

3.79% 4.29% 0.48% 0.41%

-0.70% 0.52% -0.06% 0.05%1.63% 1.12% 0.30% 0.53%

-3.38% -1.84% -0.09% 0.26%

4.59% 2.64% 0.27% 0.47%

-2.78% -3.50% 0.24% 0.32%

1.26% 1.74% 0.66% 0.70%

-3.66% -2.87% 0.35% 0.49%

0.76% -0.08% 0.12% 0.22%

-4.47% -3.13% -0.08% 0.05%

-2.92% -3.04% -0.65% -0.55%

-0.38% -1.25% -0.49% -0.42%



-8.49% -6.21% -2.99% -2.96%

-10.16% -8.39% -3.79% -3.60%

18.05% 12.02% -2.12% -2.34%

-0.80% -2.25% -2.33% -2.59%0.94% 0.42% -2.39% -2.58%

-0.04% 0.93% -2.19% -2.22%

-1.77% -1.70% -1.68% -1.58%

5.88% 6.76% 0.24% 0.50%

-5.02% -4.45% -0.30% -0.25%

-6.03% -4.52% -0.12% -0.06%

-3.00% -2.14% -1.44% -1.12%

0.20% -0.73% -0.85% -0.85%

2.93% 5.17% 0.10% 0.09%

-5.59% -4.81% 0.48% 0.39%

-8.57% -6.87% -1.74% -1.18%

-2.13% -4.55% -1.85% -1.37%

-7.12% -7.04% -2.52% -1.99%

22.24% 10.70% -0.66% -1.18%

3.01% 1.58% -0.26% -0.90%7.16% 6.16% -0.16% -0.95%

5.37% 3.25% 0.71% -0.31%

5.99% 1.66% 1.71% 0.20%

0.93% 1.52% 2.04% 0.51%

-2.53% -0.39% 1.81% 0.54%

-2.61% 1.30% 1.35% 0.21%

11.62% 5.89% 2.78% 1.11%

-7.47% -4.99% 2.88% 1.26%

0.70% 0.46% 3.11% 1.68%

2.95% 3.62% 3.95% 2.57%



5.31% 4.51% 1.12% 1.12%

0.89% 1.51% 0.89% 0.90%

-1.24% -0.74% 0.61% 0.77%

-5.09% -4.02% -0.09% 0.24%3.71% 3.19% 0.24% 0.56%

2.37% 2.26% 0.29% 0.56%

-0.19% -0.19% 0.05% 0.52%

-0.75% 0.01% 0.17% 0.63%

1.67% 1.33% 0.16% 0.52%

-1.14% 0.04% 0.04% 0.32%

-1.72% -0.36% 0.08% 0.48%

2.00% 2.18% 0.49% 0.81%

-0.71% -1.01% -0.02% 0.35%

4.75% 2.68% 0.31% 0.45%

-1.13% -0.78% 0.32% 0.44%

-4.63% -3.90% 0.35% 0.45%

-3.87% -1.64% -0.28% 0.05%

-0.86% -0.72% -0.55% -0.20%

0.96% 0.87% -0.45% -0.11%4.05% 3.13% -0.05% 0.15%

-0.92% -0.42% -0.27% 0.01%

2.68% 3.10% 0.05% 0.26%

1.31% 0.99% 0.30% 0.37%

0.61% 0.86% 0.19% 0.26%

2.14% 0.57% 0.43% 0.40%

0.70% 0.98% 0.09% 0.26%

1.73% 1.38% 0.33% 0.44%

0.11% -0.19% 0.72% 0.74%

-0.36% 2.11% 1.02% 1.06%



4.39% 3.75% 0.14% 0.15%

0.42% 0.45% 0.04% -0.01%

2.06% 1.44% 0.49% 0.41%

2.74% 2.05% 1.24% 1.00%-0.55% -0.21% 0.69% 0.53%

1.52% 1.65% 0.87% 0.77%

-0.17% 0.95% 0.51% 0.56%

-0.62% 0.58% 0.50% 0.61%

-0.51% 0.01% 0.31% 0.46%

4.71% 3.60% 1.05% 1.08%

-2.11% -2.18% 0.91% 0.95%

0.52% 0.04% 1.04% 1.01%

-0.96% -0.86% 0.59% 0.63%

2.77% 2.97% 0.79% 0.84%

2.41% 1.28% 0.82% 0.82%

1.04% 0.28% 0.67% 0.68%

0.26% 1.03% 0.74% 0.78%

0.07% 0.07% 0.62% 0.65%

1.94% 1.10% 0.80% 0.66%2.95% 1.71% 1.09% 0.76%

-2.13% -0.77% 0.96% 0.69%

-0.02% -0.55% 0.56% 0.35%

4.71% 2.70% 1.13% 0.75%

2.21% 1.39% 1.27% 0.86%

1.77% 1.04% 1.50% 1.02%

0.96% -1.72% 1.35% 0.63%

-0.15% 0.09% 1.14% 0.53%

-1.61% -1.28% 0.92% 0.40%

-3.33% -1.92% 0.62% 0.16%



-4.46% -3.92% -0.06% -0.28%

-8.15% -7.19% -0.75% -0.86%

-2.73% -1.72% -0.89% -0.97%

-5.82% -4.69% -1.47% -1.35%7.28% 4.74% -0.67% -0.76%

-1.39% -0.24% -0.51% -0.60%

-0.39% -1.68% -0.68% -0.74%

6.35% 5.35% -0.18% -0.27%

-6.24% -6.54% -1.22% -1.29%

-0.77% -0.44% -1.32% -1.35%

2.63% 2.12% -0.82% -1.00%

5.33% 5.98% -0.70% -0.69%

0.13% 1.12% -0.31% -0.27%

5.39% 3.78% 0.81% 0.65%

-2.23% -2.48% 0.86% 0.59%

-0.43% 0.85% 1.30% 1.05%

-3.71% -3.81% 0.39% 0.33%

-6.02% -4.69% 0.00% -0.04%

7.41% 7.39% 0.65% 0.72%0.95% 0.88% 0.20% 0.35%

-5.04% -2.83% 0.30% 0.66%

3.24% 3.74% 0.64% 1.00%

-0.78% -0.61% 0.35% 0.78%

4.15% 1.61% 0.25% 0.41%

1.22% 0.88% 0.35% 0.39%

3.02% 2.04% 0.15% 0.25%

1.16% 0.07% 0.43% 0.46%

3.21% 2.17% 0.73% 0.57%

1.87% -0.17% 1.20% 0.87%







Date VFC QCOM BAC XOM EMC JNJ

1/7/2008 11.87% 4.31% -3.38% -1.93% -5.83% 3.11%

1/14/2008 -4.70% -0.72% -6.58% -5.78% 6.13% -2.36%

1/22/2008 8.66% 4.30% 9.76% -1.35% -1.53% -5.76%1/28/2008 7.96% 5.51% 14.06% 2.39% -3.53% 1.44%

2/4/2008 -0.04% -0.66% -6.36% -4.52% -4.03% -2.11%

2/11/2008 -0.66% 0.66% 1.27% 4.48% 2.71% 1.41%

2/19/2008 -1.04% 3.02% -0.23% 2.11% -3.90% 1.12%

2/25/2008 -3.00% -2.17% -6.72% -0.18% 1.70% -1.94%

3/3/2008 -1.23% -5.08% -5.99% -5.20% -3.28% -0.72%

3/10/2008 2.33% -2.52% -2.88% 4.14% -1.60% 1.84%

3/17/2008 3.48% -2.45% 17.29% -1.05% -1.08% 4.36%

3/24/2008 -3.99% 4.91% -9.04% 0.26% -2.26% -1.84%

3/31/2008 3.29% 4.76% 3.51% 4.12% 4.76% 2.42%

4/7/2008 -2.81% -1.55% -6.27% -0.14% -0.67% 0.40%

4/14/2008 3.69% 2.78% 4.38% 6.07% 4.30% 0.78%

4/21/2008 -3.10% 1.60% -0.67% -1.64% 0.13% 1.20%

4/28/2008 1.28% 2.52% 3.89% -3.09% 3.60% 1.41%

5/5/2008 -5.04% -1.37% -7.89% -0.44% -0.87% -2.51%5/12/2008 5.04% 7.27% -1.29% 4.35% 11.03% 0.21%

5/19/2008 -4.45% 1.84% -6.20% -2.14% -3.72% -1.95%

5/27/2008 2.61% 1.97% 0.22% -2.13% 2.23% 2.80%

6/2/2008 -3.11% -2.89% -8.56% -2.22% -1.83% -1.46%

6/9/2008 0.00% 6.05% -2.36% 1.80% -3.68% 0.78%

6/16/2008 -4.17% -2.91% -8.99% -3.90% -2.37% -3.34%

6/23/2008 3.40% -5.94% -9.25% 1.93% -8.26% -0.76%

6/30/2008 3.29% -1.30% -8.90% 1.98% 1.90% 2.43%

7/7/2008 -5.16% 7.27% -3.26% -3.16% -15.42% 1.76%

7/14/2008 4.07% -6.49% 26.84% -4.60% -1.26% 2.35%



11/24/2008 22.18% 11.28% 41.68% 5.72% 13.66% 0.38%

12/1/2008 5.87% -4.99% -4.08% -4.43% 2.27% -0.59%

12/8/2008 -3.07% 6.85% -2.06% 5.03% -0.37% -1.69%

12/15/2008 4.81% 3.27% -7.54% -6.75% 1.58% 2.78%12/22/2008 -2.10% -1.72% -3.16% 2.90% -5.76% -0.48%

12/29/2008 4.46% 7.63% 7.21% 5.76% 5.33% 3.57%

1/5/2009 -8.56% -5.55% -9.34% -4.98% 8.20% -2.64%

1/12/2009 7.94% 2.92% -44.73% 0.68% -4.09% -2.73%

1/20/2009 -2.54% 1.52% -13.14% -0.08% -0.98% -2.55%

1/26/2009 2.40% -5.51% 5.53% -2.00% -1.08% 3.08%

2/2/2009 4.38% 5.10% -6.78% 5.57% 8.24% 1.42%

2/9/2009 -9.52% -1.74% -9.26% -7.15% 0.92% -2.41%

2/17/2009 0.67% -4.52% -31.88% -4.50% -8.71% -3.51%

2/23/2009 -2.55% -1.42% 4.28% -4.68% -4.63% -8.51%

3/2/2009 -7.06% 0.60% -20.26% -5.69% -5.43% -4.06%

3/9/2009 12.47% 9.28% 83.28% 4.94% 7.55% 5.57%

3/16/2009 3.60% 0.86% 7.37% -1.65% 5.71% 2.04%

3/23/2009 5.34% 5.07% 18.63% 5.89% 2.48% 2.23%

3/30/2009 10.05% 5.77% 3.58% 0.65% 7.95% -1.28%4/6/2009 2.63% 1.12% 25.53% -0.84% 6.08% -1.43%

4/13/2009 0.45% -1.61% 11.02% -4.42% -3.32% 3.19%

4/20/2009 3.88% 0.92% -14.12% -0.27% -6.64% -4.02%

4/27/2009 -14.32% 3.15% -4.44% 2.17% 4.10% 3.29%

5/4/2009 -1.66% -2.04% 62.91% 4.10% 1.53% 4.54%

5/11/2009 -6.35% -2.56% -24.70% -1.81% -5.54% 0.79%

5/18/2009 0.44% 1.47% 3.79% -0.40% -2.76% -0.28%

5/26/2009 4.01% 5.92% 1.83% 0.76% 1.21% 0.70%

6/1/2009 4.45% 4.15% 5.29% 5.21% 9.62% 1.40%

6/8/2009 -0.62% 1.43% 15.67% 1.11% 2.95% 0.24%



10/19/2009 2.87% -3.01% -6.03% 0.61% -2.62% 0.13%

10/26/2009 -9.29% 1.54% -10.09% -2.59% -5.83% -2.47%

11/2/2009 4.82% 6.23% 3.25% 1.28% 1.58% 2.12%

11/9/2009 0.01% 4.25% 6.17% 0.42% 0.90% 1.88%

11/16/2009 -2.70% -1.46% 0.69% 2.64% 0.95% 2.22%

11/23/2009 -0.19% 0.14% -3.89% 0.65% -1.70% 0.94%

11/30/2009 1.21% 0.37% 5.29% -0.82% 2.27% 2.34%

12/7/2009 1.07% -0.57% -3.97% -1.92% -2.80% 0.76%

12/14/2009 -1.42% -0.74% -3.81% -6.34% 4.14% -0.73%

12/21/2009 1.97% 3.45% 1.41% 0.67% 2.94% 0.50%

12/28/2009 -0.71% 0.34% -1.19% -0.69% -2.13% -0.45%

1/4/2010 3.12% 6.94% 11.39% 1.95% 1.09% -0.30%

1/11/2010 -1.19% -1.89% -3.13% -0.59% 1.59% 0.54%

1/19/2010 -2.92% -3.62% -8.32% -4.34% -6.58% -2.10%

1/25/2010 -0.57% -16.23% 1.83% -2.53% -0.54% -0.55%

2/1/2010 -0.71% -2.91% -1.13% 0.57% 0.90% -0.34%

2/8/2010 3.38% 2.10% -3.70% 0.65% 1.78% 0.12%

2/16/2010 3.65% 1.92% 9.92% 1.65% 4.03% 2.52%

2/22/2010 0.97% -6.95% 4.89% -1.32% -1.80% -1.26%3/1/2010 2.59% 5.67% 0.30% 2.26% 2.17% 1.65%

3/8/2010 1.08% 0.51% 0.91% 0.49% 5.65% 0.22%

3/15/2010 0.11% 2.81% -0.18% 0.36% -1.43% 1.44%

3/22/2010 0.99% 4.44% 6.41% -0.75% -0.27% -1.12%

3/29/2010 0.64% 1.06% 0.79% 1.61% -2.05% 2.17%

4/5/2010 3.25% -0.24% 3.07% 1.71% 1.98% -0.96%

4/12/2010 -1.36% 1.35% -0.98% -1.21% 4.42% -0.18%

4/19/2010 5.02% -10.50% 0.11% 1.92% 3.20% 0.03%

4/26/2010 -0.28% 1.14% -3.28% -2.12% -4.85% -1.14%

5/3/2010 -8.71% -5.64% -9.22% -6.00% -4.89% -1.54%



9/13/2010 2.61% 5.21% -1.11% -0.69% 2.95% 2.65%

9/20/2010 1.98% 4.74% 1.50% 1.60% 5.20% 0.92%

9/27/2010 2.28% -0.64% -2.22% 1.27% -6.01% -0.63%

10/4/2010 4.34% 1.13% -0.91% 2.95% -2.31% 2.39%

10/11/2010 1.94% 0.07% -9.09% 1.25% 6.14% 0.53%

10/18/2010 0.04% -1.37% -4.54% 1.76% 1.66% 0.38%

10/25/2010 -3.21% 2.22% 0.09% 0.22% -1.96% -0.12%

11/1/2010 2.08% 7.02% 7.92% 5.28% 2.62% 1.44%

11/8/2010 -6.60% -1.78% -1.87% 2.06% 0.70% -1.52%

11/15/2010 4.03% 1.03% -3.82% -0.64% 0.46% 0.25%

11/22/2010 1.53% -0.15% -4.66% -1.85% -0.55% -1.55%

11/29/2010 1.36% 2.35% 6.79% 2.82% 1.98% 0.40%

12/6/2010 2.03% 1.34% 7.89% 1.39% 0.54% -1.04%

12/13/2010 3.67% -0.04% -1.81% -0.01% 3.19% 1.03%

12/20/2010 -2.60% -0.02% 3.92% 1.44% 0.26% -0.47%

12/27/2010 -0.82% 0.08% 2.16% -0.11% -0.52% -0.64%

1/3/2011 -4.72% 4.53% 6.79% 3.38% 2.49% 1.20%

1/10/2011 2.24% 0.61% 7.06% 2.97% 4.56% -0.07%

1/18/2011 -2.26% -1.55% -6.60% 1.47% -2.28% 0.17%1/24/2011 -0.74% 4.87% -4.52% 0.01% 2.09% -4.22%

1/31/2011 6.72% 2.79% 5.03% 5.43% 4.94% 1.38%

2/7/2011 0.23% 4.28% 3.38% -0.02% 5.25% -0.22%

2/14/2011 3.07% 2.76% -0.14% 2.03% 0.52% 0.67%

2/22/2011 6.88% 0.05% -3.75% 0.99% -1.03% -1.52%

2/28/2011 -0.30% -1.48% -0.43% -0.31% 1.56% 2.38%

3/7/2011 3.26% -7.81% 1.78% -3.48% -2.67% -2.24%

3/14/2011 -5.26% -3.54% -2.31% -1.55% -3.61% -1.87%

3/21/2011 2.60% 2.00% -5.01% 3.43% 6.63% 0.69%

3/28/2011 3.66% 3.27% 0.23% 1.26% -2.85% 0.86%



8/8/2011 -0.19% -1.01% -11.93% -3.14% 0.65% 1.03%

8/15/2011 -6.24% -7.89% -3.07% -3.05% -12.36% -0.36%

8/22/2011 9.46% 5.68% 11.38% 4.07% 6.56% 2.72%

8/29/2011 -1.33% 1.52% -6.47% -0.70% -0.83% -0.32%

9/6/2011 1.32% 1.44% -3.73% -1.56% -0.65% -0.68%

9/12/2011 9.95% 6.90% 3.59% 4.99% 6.90% 1.50%

9/19/2011 0.32% -6.66% -12.76% -7.04% -9.40% -4.65%

9/26/2011 -2.85% -3.29% -3.02% 4.80% 1.79% 3.41%

10/3/2011 6.55% 3.27% -3.61% 1.28% 6.67% -0.88%

10/10/2011 3.45% 9.47% 4.93% 6.17% 3.13% 2.52%

10/17/2011 -0.94% -5.39% 4.38% 2.59% 4.07% -1.45%

10/24/2011 5.63% 2.32% 13.82% 1.69% 4.16% 2.86%

10/31/2011 -2.29% 6.15% -11.73% -3.64% -1.44% -2.27%

11/7/2011 -0.59% 0.21% -4.33% 2.14% -0.12% 1.76%

11/14/2011 -3.23% -1.69% -6.95% -2.28% -6.37% -2.14%

11/21/2011 -4.19% -6.48% -10.59% -5.14% -5.16% -3.16%

11/28/2011 9.77% 4.78% 9.32% 7.97% 6.31% 3.59%

12/5/2011 -0.87% 1.55% 1.42% 1.94% 1.25% 1.67%

12/12/2011 -5.98% -4.66% -9.11% -1.46% -5.31% -0.34%12/19/2011 0.41% 3.83% 7.71% 6.32% -2.11% 2.60%

12/27/2011 -1.57% 0.13% -0.72% -0.54% -1.33% -0.60%

1/3/2012 5.26% 2.68% 11.17% 0.43% 2.18% -1.15%

1/9/2012 -1.30% 0.68% 6.97% -0.28% 1.09% 0.67%

1/17/2012 1.21% 2.09% 6.97% 3.07% 4.49% 0.02%

1/23/2012 -2.04% 0.10% 3.12% -1.90% 11.10% 0.45%

1/30/2012 1.97% 5.66% 7.55% -1.05% 2.17% 0.12%

2/6/2012 5.72% 1.10% 2.94% -0.78% -0.72% -1.60%

2/13/2012 4.28% 1.28% -0.62% 2.17% 3.44% 0.61%

2/21/2012 -0.43% 1.46% -1.75% 2.01% 1.55% 0.06%



Date Port-S&P

1/2/2008

1/7/2008 3.32%

1/14/2008 2.57%

1/22/2008 3.61%

1/28/2008 0.91%

2/4/2008 1.97%

2/11/2008 -0.08%

2/19/2008 0.07%

2/25/2008 -0.75%

3/3/2008 -0.94%

3/10/2008 0.49%

3/17/2008 0.29%

3/24/2008 -0.85%

3/31/2008 -0.31%

4/7/2008 0.50%

4/14/2008 -0.50%

4/21/2008 -1.22%

4/28/2008 0.51%5/5/2008 -1.54%

5/12/2008 1.95%

5/19/2008 0.72%

5/27/2008 -0.48%

6/2/2008 -0.79%

6/9/2008 0.84%

6/16/2008 -1.34%

6/23/2008 0.12%

6/30/2008 0.86%

7/7/2008 -0.61%



11/17/2008 -1.76%

11/24/2008 6.03%

12/1/2008 1.45%

12/8/2008 0.53%

12/15/2008 -0.96%

12/22/2008 -0.07%

12/29/2008 -0.88%

1/5/2009 -0.57%

1/12/2009 -1.51%

1/20/2009 -0.86%

1/26/2009 0.93%

2/2/2009 -2.24%

2/9/2009 -0.78%

2/17/2009 -1.70%

2/23/2009 2.42%

3/2/2009 -0.08%

3/9/2009 11.54%

3/16/2009 1.43%

3/23/2009 1.00%3/30/2009 2.12%

4/6/2009 4.32%

4/13/2009 -0.59%

4/20/2009 -2.14%

4/27/2009 -3.91%

5/4/2009 5.73%

5/11/2009 -2.48%

5/18/2009 0.24%

5/26/2009 -0.67%

6/1/2009 2.75%



10/12/2009 -0.62%

10/19/2009 -0.50%

10/26/2009 -1.07%

11/2/2009 0.52%

11/9/2009 0.11%

11/16/2009 0.01%

11/23/2009 -0.76%

11/30/2009 0.35%

12/7/2009 -1.18%

12/14/2009 -1.36%

12/21/2009 -0.18%

12/28/2009 0.30%

1/4/2010 2.07%

1/11/2010 -0.35%

1/19/2010 -0.73%

1/25/2010 -2.23%

2/1/2010 -0.14%

2/8/2010 0.09%

2/16/2010 0.92%2/22/2010 -0.50%

3/1/2010 -0.42%

3/8/2010 0.32%

3/15/2010 -0.25%

3/22/2010 1.57%

3/29/2010 -0.28%

4/5/2010 0.35%

4/12/2010 0.30%

4/19/2010 -2.47%

4/26/2010 1.11%



9/7/2010 -0.03%

9/13/2010 0.62%

9/20/2010 0.70%

9/27/2010 -0.34%

10/4/2010 -0.12%

10/11/2010 -1.12%

10/18/2010 -1.20%

10/25/2010 -0.52%

11/1/2010 1.11%

11/8/2010 0.06%

11/15/2010 0.48%

11/22/2010 -0.10%

11/29/2010 -0.19%

12/6/2010 1.13%

12/13/2010 0.76%

12/20/2010 -0.77%

12/27/2010 0.00%

1/3/2011 0.84%

1/10/2011 1.24%1/18/2011 -1.37%

1/24/2011 0.53%

1/31/2011 2.01%

2/7/2011 0.82%

2/14/2011 0.73%

2/22/2011 2.68%

2/28/2011 -0.24%

3/7/2011 -0.33%

3/14/2011 -1.40%

3/21/2011 -1.15%



8/1/2011 -0.96%

8/8/2011 -1.01%

8/15/2011 -1.13%

8/22/2011 2.54%

8/29/2011 -1.15%

9/6/2011 1.29%

9/12/2011 1.00%

9/19/2011 0.31%

9/26/2011 -0.33%

10/3/2011 0.51%

10/10/2011 -0.65%

10/17/2011 -0.99%

10/24/2011 1.61%

10/31/2011 0.25%

11/7/2011 -1.28%

11/14/2011 0.11%

11/21/2011 -1.33%

11/28/2011 0.02%

12/5/2011 0.08%12/12/2011 -2.21%

12/19/2011 -0.51%

12/27/2011 -0.17%

1/3/2012 2.54%

1/9/2012 0.34%

1/17/2012 0.98%

1/23/2012 1.08%

1/30/2012 1.04%

2/6/2012 2.04%

2/13/2012 0.64%



SD of the difference

SE of the difference

Prob(difference>0)

Time Period 2

Mean of the difference

SD of the difference

SE of the difference

Prob(difference>0)



-20.00%

-15.00%

-10.00%

-5.00%

0.00%

5.00%

10.00%

15.00%

1/1/2008 6/24/2008 12/16/2008 6/9/2009 12/1/2009 5/25/2010 11/16/2010 5/10/2011 11/1/2011 4/24/2012

Portfolio vs S&P Weekly Returns

S&P Portfolio Est Upturn



-4.00%

-3.00%

-2.00%

-1.00%

0.00%

1.00%

2.00%

3.00%

4.00%

1/1/2008 6/24/2008 12/16/2008 6/9/2009 12/1/2009 5/25/2010 11/16/2010 5/10/2011 11/1/2011 4/24/2012

Portfolio vs S&P 12 Week Moving Average Returns

S&P Portfolio Est Upturn



600

700

800

900

1000

1100

1200

1300

1400

1500

1600

1/1/2008 6/24/2008 12/16/2008 6/9/2009 12/1/2009 5/25/2010 11/16/2010 5/10/2011 11/1/2011 4/24/2012

S&P 500 Prices

S&P Prices Est Upturn

Documents

Equity Research Project