Date

29-Dec-99
26-Jan-00
23-Feb-00
29-Mar-00
26-Apr-00
31-May-00
28-Jun-00
26-Jul-00
30-Aug-00
27-Sep-00
26-Oct-00
29-Nov-00
20-Dec-00
31-Jan-01
28-Feb-01
28-Mar-01
25-Apr-01
30-May-01
27-Jun-01
25-Jul-01
29-Aug-01
26-Sep-01
31-Oct-01
28-Nov-01
26-Dec-01
30-Jan-02
27-Feb-02
27-Mar-02
24-Apr-02
29-May-02
26-Jun-02
31-Jul-02
28-Aug-02
25-Sep-02
30-Oct-02
27-Nov-02
27-Dec-02
29-Jan-03
26-Feb-03
26-Mar-03
30-Apr-03
28-May-03
25-Jun-03
30-Jul-03
27-Aug-03
24-Sep-03
29-Oct-03
1-Dec-03
30-Dec-03
28-Jan-04

JCI Return
-0.0467
-0.0916
0.0124
-0.1143
-0.1331
0.1228
-0.0263
-0.0556
-0.1256
0.0098
0.0269
-0.0245
0.0259
0.0063
-0.1240
-0.0586
0.1578
0.0665
0.0264
-0.0219
-0.0841
-0.0431
-0.0022
-0.0129
0.1758
0.0227
0.0589
0.1308
-0.0433
-0.0330
-0.0791
-0.0446
-0.0775
-0.1163
0.0607
0.1094
-0.0786
0.0153
0.0088
0.1242
0.0931
0.0151
0.0159
0.0445
0.1408
0.0313
0.0086
0.0984
0.1087

JCI Excess Risk-free Corresponding

1 + JCI Rt
Return
Interest
Rf (1 Mo)
-0.0560
0.1221
0.0094 0.9533
-0.1004
0.1141
0.0088 0.9084
0.0038
0.1127
0.0086 1.0124
-0.1228
0.1116
0.0086 0.8857
-0.1416
0.1113
0.0085 0.8669
0.1141
0.1132
0.0087 1.1228
-0.0360
0.1262
0.0097 0.9737
-0.0663
0.1386
0.0106 0.9444
-0.1363
0.1386
0.0106 0.8744
-0.0009
0.1396
0.0107 1.0098
0.0161
0.1408
0.0108 1.0269
-0.0357
0.1451
0.0111 0.9755
0.0145
0.1490
0.0114 1.0259
-0.0053
0.1512
0.0116 1.0063
-0.1357
0.1517
0.0116 0.8760
-0.0709
0.1599
0.0123 0.9414
0.1452
0.1652
0.0127 1.1578
0.0536
0.1677
0.0129 1.0665
0.0132
0.1710
0.0131 1.0264
-0.0354
0.1764
0.0135 0.9781
-0.0980
0.1817
0.0139 0.9159
-0.0570
0.1806
0.0139 0.9569
-0.0160
0.1807
0.0139 0.9978
-0.0268
0.1809
0.0139 0.9871
0.1619
0.1811
0.0139 1.1758
0.0093
0.1739
0.0133 1.0227
0.0456
0.1732
0.0133 1.0589
0.1176
0.1722
0.0132 1.1308
-0.0564
0.1706
0.0131 0.9567
-0.0452
0.1592
0.0122 0.9670
-0.0910
0.1550
0.0119 0.9209
-0.0564
0.1532
0.0117 0.9554
-0.0888
0.1471
0.0113 0.9225
-0.1267
0.1354
0.0104 0.8837
0.0504
0.1342
0.0103 1.0607
0.0991
0.1338
0.0103 1.1094
-0.0888
0.1330
0.0102 0.9214
0.0054
0.1299
0.0100 1.0153
-0.0008
0.1253
0.0096 1.0088
0.1153
0.1166
0.0089 1.1242
0.0844
0.1131
0.0087 1.0931
0.0070
0.1067
0.0082 1.0151
0.0084
0.0973
0.0075 1.0159
0.0374
0.0929
0.0071 1.0445
0.1339
0.0910
0.0070 1.1408
0.0245
0.0884
0.0068 1.0313
0.0020
0.0865
0.0066 1.0086
0.0917
0.0867
0.0066 1.0984
0.1022
0.0848
0.0065 1.1087

1 + JCI Ex.
Rt
0.9440
0.8996
1.0038
0.8772
0.8584
1.1141
0.9640
0.9337
0.8637
0.9991
1.0161
0.9643
1.0145
0.9947
0.8643
0.9291
1.1452
1.0536
1.0132
0.9646
0.9020
0.9430
0.9840
0.9732
1.1619
1.0093
1.0456
1.1176
0.9436
0.9548
0.9090
0.9436
0.9112
0.8733
1.0504
1.0991
0.9112
1.0054
0.9992
1.1153
1.0844
1.0070
1.0084
1.0374
1.1339
1.0245
1.0020
1.0917
1.1022

25-Feb-04
31-Mar-04
28-Apr-04
26-May-04
30-Jun-04
28-Jul-04
25-Aug-04
29-Sep-04
27-Oct-04
24-Nov-04
29-Dec-04

0.0130
0.0068
-0.0532
-0.0591
0.1118
0.1060
-0.1222
-0.1279
0.0200
0.0143
0.0380
0.0322
-0.0375
-0.0432
0.1109
0.1052
0.0446
0.0389
0.1321
0.1263
0.0448
0.0390
Arithmetic Mean
0.0097
0.000000

0.0802
0.0763
0.0757
0.0747
0.0746
0.0748
0.0751
0.0752
0.0754
0.0756
0.0756

0.0062
0.0059
0.0058
0.0057
0.0057
0.0057
0.0058
0.0058
0.0058
0.0058
0.0058

1.0130
1.0068
0.9468
0.9409
1.1118
1.1060
0.8778
0.8721
1.0200
1.0143
1.0380
1.0322
0.9625
0.9568
1.1109
1.1052
1.0446
1.0389
1.1321
1.1263
1.0448
1.0390
Geometric Mean
0.0066
-0.0031

0.0101742
0.0095117
0.0093914
0.0092968
0.009271
0.0094344
0.0105186
0.0115532
0.0115532
0.0116308
0.0117344
0.0120885
0.0124168
0.0125984
0.0126416
0.0133251
0.0137668
0.0139748
0.0142523
0.0147034
0.0151376
0.0150507
0.0150594
0.0150768
0.0150941
0.0144952
0.0144344
0.0143477
0.0142176
0.0132645
0.0129184
0.0127627
0.0122613
0.0112857
0.0111822
0.0111477
0.0110874
0.0108288
0.0104411
0.0097181
0.0094258
0.008893
0.0081121
0.0077435
0.0075807
0.0073665
0.0072124
0.0072209
0.0070669

0.0094
0.0088
0.0086
0.0086
0.0085
0.0087
0.0097
0.0106
0.0106
0.0107
0.0108
0.0111
0.0114
0.0116
0.0116
0.0123
0.0127
0.0129
0.0131
0.0135
0.0139
0.0139
0.0139
0.0139
0.0139
0.0133
0.0133 17.321307 -4.238139
0.0132
0.0131
0.0122
0.0119
0.0117
0.0113
0.0104
0.0103
0.0103
0.0102
0.0100
0.0096
0.0089
0.0087
0.0082
0.0075
0.0071
0.0070
0.0068
0.0066
0.0066
0.0065

0.1474 0.0122833

0.0066818
0.0063569
0.0063056
0.0062287
0.0062201
0.0062372
0.0062543
0.0062629
0.00628
0.0062971
0.0062971

0.0062
0.0059
0.0058
0.0057
0.0057
0.0057
0.0058
0.0058
0.0058
0.0058
0.0058

Excess Return
DATE
IHSG
AALI
26-Jan-00
-0.0560 -0.08831
23-Feb-00
-0.1004
-0.0659
29-Mar-00
0.0038 0.067112
26-Apr-00
-0.1228
-0.0649
31-May-00
-0.1416 -0.08316
28-Jun-00
0.1141 0.120347
26-Jul-00
-0.0360
-0.0954
30-Aug-00
-0.0663 -0.13876
27-Sep-00
-0.1363 -0.18626
26-Oct-00
-0.0009 -0.05419
29-Nov-00
0.0161 -0.07898
20-Dec-00
-0.0357 -0.03552
31-Jan-01
0.0145 -0.13643
28-Feb-01
-0.0053 -0.06874
28-Mar-01
-0.1357 -0.22376
25-Apr-01
-0.0709 -0.25073
30-May-01
0.1452 0.401468
27-Jun-01
0.0536 0.344278
25-Jul-01
0.0132 0.828985
29-Aug-01
-0.0354 -0.25639
26-Sep-01
-0.0980 -0.10827
31-Oct-01
-0.0570 -0.15969
28-Nov-01
-0.0160 -0.08703
26-Dec-01
-0.0268 -0.04019
30-Jan-02
0.1619 0.175294
27-Feb-02
0.0093 0.236657
27-Mar-02
0.0456 0.095803
24-Apr-02
0.1176 0.281874
29-May-02
-0.0564 -0.12701
26-Jun-02
-0.0452 0.073504
31-Jul-02
-0.0910 -0.05137
28-Aug-02
-0.0564 -0.12134
25-Sep-02
-0.0888 -0.24206
30-Oct-02
-0.1267 -0.09039
27-Nov-02
0.0504 0.098402
27-Dec-02
0.0991 0.205424
29-Jan-03
-0.0888 0.086568
26-Feb-03
0.0054 -0.14232
26-Mar-03
-0.0008 -0.11131
30-Apr-03
0.1153 0.141997
28-May-03
0.0844 0.02411
25-Jun-03
0.0070 -0.10342
30-Jul-03
0.0084 -0.04256
27-Aug-03
0.0374 0.065599
24-Sep-03
0.1339 0.094717
29-Oct-03
0.0245 0.054757
1-Dec-03
0.0020 -0.05012
30-Dec-03
0.0917 0.038807
28-Jan-04
0.1022 -0.03549
25-Feb-04
0.0068 0.172954

AALI Est.
-0.05819
-0.11355
0.016442
-0.14153
-0.16502
0.154172
-0.03319
-0.07095
-0.15833
0.010645
0.031842
-0.03275
0.029803
0.005158
-0.15758
-0.07674
0.192928
0.078702
0.028283
-0.03243
-0.11061
-0.05933
-0.00827
-0.02165
0.213849
0.023396
0.068713
0.158574
-0.05864
-0.0447
-0.10183
-0.05864
-0.09904
-0.14638
0.074673
0.13547
-0.09913
0.018451
0.010749
0.155634
0.117064
0.020425
0.022243
0.05845
0.178805
0.042316
0.014206
0.126201
0.1393
0.020253

e
0.030126
-0.04765
-0.05067
-0.07663
-0.08185
0.033824
0.062208
0.067805
0.027934
0.06483
0.110826
0.002763
0.166234
0.073898
0.06618
0.173983
-0.20854
-0.26558
-0.8007
0.223967
-0.00234
0.100354
0.078766
0.018541
0.038555
-0.21326
-0.02709
-0.1233
0.068372
-0.1182
-0.05046
0.062702
0.143013
-0.05599
-0.02373
-0.06995
-0.1857
0.160773
0.122056
0.013637
0.092954
0.12385
0.064798
-0.00715
0.084088
-0.01244
0.064324
0.087394
0.174791
-0.1527

Diff^2
0.000908
0.002271
0.002567
0.005873
0.0067
0.001144
0.00387
0.004598
0.00078
0.004203
0.012282
7.64E-06
0.027634
0.005461
0.00438
0.03027
0.043489
0.070531
0.641125
0.050161
5.45E-06
0.010071
0.006204
0.000344
0.001486
0.04548
0.000734
0.015203
0.004675
0.013972
0.002547
0.003932
0.020453
0.003135
0.000563
0.004894
0.034485
0.025848
0.014898
0.000186
0.00864
0.015339
0.004199
5.11E-05
0.007071
0.000155
0.004138
0.007638
0.030552
0.023318

RSS
BUMI
1.303831159
-0.17603246
0.391243998
MSS dari RSS
-0.365788067
0.022479848
-0.230780399
-0.151391585
SE of regression
0.491315224
0.14993281
-0.209682859
-0.149524141
Var (e)
-0.075151381
0.022098833
0.023776005
-0.110802105
0.099983085
-0.078096953
-0.368740259
-0.289414978
-0.24303565
-0.012673041
1.187135495
-0.285847175
-0.2010352
0.139911309
-0.147188224
-0.167709039
-0.013878875
-0.286622139
-0.138343482
0.129569565
-0.013207726
-0.013087971
-0.012210634
-0.136891979
-0.154605793
-0.177953754
-0.410389045
0.323039562
-0.010262017
-0.010206453
-0.009968388
-0.009611501
0.241054012
0.191323137
0.158480192
1.135389569
0.99287177
0.226354973
0.128353904
-0.006639346
1.374305154
-0.05650538
0.257006959

31-Mar-04
28-Apr-04
26-May-04
30-Jun-04
28-Jul-04
25-Aug-04
29-Sep-04
27-Oct-04
24-Nov-04
29-Dec-04

-0.0591
0.1060
-0.1279
0.0143
0.0322
-0.0432
0.1052
0.0389
0.1263
0.0390

-0.01851
0.263426
-0.01583
-0.08736
-0.00574
0.005354
0.126103
0.120433
0.045927
0.0024

-0.06201
0.144051
-0.14789
0.029625
0.051953
-0.0422
0.143013
0.060253
0.169331
0.060476

-0.0435
-0.11938
-0.13205
0.116984
0.057695
-0.04756
0.01691
-0.06018
0.123403
0.058076

0.001893
0.01425
0.017438
0.013685
0.003329
0.002262
0.000286
0.003622
0.015228
0.003373

-0.047518489
-0.049282871
-0.242097437
0.363321686
0.037736593
-0.005757402
0.202568063
0.028701753
0.027536591
0.026461323

BUMI Est.
e
-0.223799584
0.664417957
-0.520910908
-0.309521597
-0.185217943
0.82110526
-0.276487959
-0.182293977
-0.065844247
0.089052079
-0.121664647
0.20837391
-0.0704563
-0.525533326
-0.401329147
-0.328710353
0.031981701
1.910591281
-0.395742833
-0.262947819
0.270891838
-0.178636497
-0.210767123
0.030093656
-0.396956237
-0.164787773
0.254699171
0.031144514
0.031332021
0.032705718
-0.162515072
-0.190250614
-0.226807866
-0.590745236
0.55762633
0.03575678
0.035843781
0.036216532
0.03677533
0.429256815
0.351390309
0.299966212
1.829569693
1.606421337
0.40624168
0.252795741
0.041429006
2.203653634
-0.036649126
0.454235265

-0.047767125
0.273173959
-0.155122841
-0.078741198
-0.033826358
0.329790036
-0.0668051
-0.032769836
0.009307133
0.065276074
-0.010862542
0.108390824
0.007640653
-0.156793066
-0.111914169
-0.085674703
0.044654742
0.723455786
-0.109895657
-0.06191262
0.130980529
-0.031448273
-0.043058084
0.043972531
-0.110334099
-0.026444291
0.125129606
0.04435224
0.044419992
0.044916352
-0.025623092
-0.035644821
-0.048854112
-0.180356192
0.234586767
0.046018797
0.046050233
0.04618492
0.046386831
0.188202802
0.160067172
0.141486019
0.694180124
0.613549567
0.179886706
0.124441837
0.048068352
0.829348481
0.019856254
0.197228306

Diff^2
0.002281698
0.074624012
0.024063096
0.006200176
0.001144222
0.108761468
0.004462921
0.001073862
8.66227E-05
0.004260966
0.000117995
0.011748571
5.83796E-05
0.024584066
0.012524781
0.007340155
0.001994046
0.523388274
0.012077055
0.003833172
0.017155899
0.000988994
0.001853999
0.001933584
0.012173613
0.000699301
0.015657418
0.001967121
0.001973136
0.002017479
0.000656543
0.001270553
0.002386724
0.032528356
0.055030951
0.00211773
0.002120624
0.002133047
0.002151738
0.035420295
0.025621499
0.020018294
0.481886045
0.376443071
0.032359227
0.015485771
0.002310566
0.687818902
0.000394271
0.038899005

RSS
ANTM
ANTM Est.
2.821836148
-0.027547611
-0.019032472
-0.119867113
-0.120154697
MSS dari RSS
-0.050311877
-0.043967325
0.048652347
-0.117253829
-0.117292234
0.015855801
0.028509483
SE of regression
0.038934272
0.053788501
0.220572771
0.053953505
0.070239827
-0.091831833
-0.089446235
Var (e)
-0.099007345
-0.097305936
0.041131608
0.060721818
0.077653503
-0.058421153
-0.052849825
-0.086128026
-0.083198566
-0.038457313
-0.030982421
-0.011597402
-0.0015614
-0.122748311
-0.123310618
-0.01226642
-0.002294209
0.143576959
0.168408935
0.041189549
0.05625882
0.0894442
0.109114582
-0.060046827
-0.054630509
-0.087105576
-0.084269326
-0.066486469
-0.061684175
-0.180529552
-0.186601337
0.019454458
0.032451274
0.24416965
0.278593202
0.03793857
0.052697858
0.011102666
0.023303134
0.248697036
0.283552277
-0.126295518
-0.127196054
-0.012210634
-0.002233104
-0.253381341
-0.26639959
-0.098705172
-0.096974951
-0.182715659
-0.188995891
-0.056366056
-0.050598774
0.037899
0.052654515
0.369048328
0.41537914
0.239793547
0.273799835
0.090031612
0.109758004
-0.100520592
-0.098963473
-0.042279321
-0.03516886
0.163736931
0.190491172
-0.067010004
-0.062257628
0.055032426
0.071421625
0.022283535
0.035550105
0.250164497
0.285159661
0.061400587
0.078396993
0.078467037
0.09709074
0.503156694
0.562274824
-0.175336549
-0.180913178
0.009474064
0.021519243

-0.022577832
-0.025340426
-0.327241337
0.620698379
0.110910979
0.042809916
0.36899714
0.096764607
0.094940246
0.093256636

0.024940657
0.023942445
-0.085143901
0.257376693
0.073174386
0.048567318
0.166429076
0.068062854
0.067403655
0.066795313

0.000622036
0.000573241
0.007249484
0.066242762
0.005354491
0.002358784
0.027698637
0.004632552
0.004543253
0.004461614

-0.252005669
0.05541988
-0.217272262
0.213786262
-0.045741667
-0.026590736
0.100617709
0.148065148
0.127536591
0.023615023

-0.264892746
0.071846022
-0.226847487
0.245312739
-0.038961343
-0.017984358
0.121353492
0.173325075
0.150839107
0.037008552

e
0.008515139
-0.000287583
0.006344552
-3.8405E-05
0.012653682
0.014854229
0.016286322
0.002385598
0.001701409
0.016931685
0.005571328
0.00292946
0.007474892
0.010036002
-0.000562307
0.009972211
0.024831975
0.015069271
0.019670382
0.005416319
0.00283625
0.004802295
-0.006071785
0.012996816
0.034423552
0.014759288
0.012200468
0.034855241
-0.000900536
0.00997753
-0.013018249
0.001730221
-0.006280232
0.005767282
0.014755515
0.046330812
0.034006287
0.019726392
0.00155712
0.007110462
0.026754241
0.004752375
0.016389198
0.013266571
0.034995164
0.016996406
0.018623703
0.05911813
-0.005576629
0.012045179

Diff^2
7.25076E-05
8.27042E-08
4.02533E-05
1.47495E-09
0.000160116
0.000220648
0.000265244
5.69108E-06
2.89479E-06
0.000286682
3.10397E-05
8.58174E-06
5.5874E-05
0.000100721
3.1619E-07
9.9445E-05
0.000616627
0.000227083
0.000386924
2.93365E-05
8.04431E-06
2.3062E-05
3.68666E-05
0.000168917
0.001184981
0.000217837
0.000148851
0.001214888
8.10965E-07
9.95511E-05
0.000169475
2.99367E-06
3.94413E-05
3.32615E-05
0.000217725
0.002146544
0.001156428
0.000389131
2.42462E-06
5.05587E-05
0.000715789
2.25851E-05
0.000268606
0.000176002
0.001224662
0.000288878
0.000346842
0.003494953
3.10988E-05
0.000145086

RSS
TINS
TINS Est.
e
0.020068334
-0.172631099
-0.260568155
-0.167292587
-0.252594034
MSS dari RSS
-0.102848109
-0.156333489
0.000346006
-0.016558176
-0.027442448
-0.234340894
-0.352743911
SE of regression
0.074648557
0.108792806
0.01860123
-0.013529012
-0.022917794
-0.1592839
-0.24063148
Var (e)
-0.269138653
-0.40472123
0.000188673
-0.077985041
-0.119195591
-0.04358899
-0.067818303
-0.061975483
-0.095282158
0.131426857
0.193602399
0.097777598
0.143340591
-0.166566777
-0.251509894
-0.095599753
-0.145506639
0.223690596
0.331416499
-0.101099799
-0.153722043
0.083654291
0.122244646
-0.145888141
-0.22062227
-0.217324675
-0.32732683
-0.162791061
-0.245870116
-0.548862885
-0.822544566
-0.153663822
-0.232236783
0.798605134
1.190164805
0.090104794
0.131879745
-0.200787578
-0.302625412
0.063715351
0.092461905
-0.1916594
-0.288990676
0.031267627
0.043994826
-0.228558646
-0.344106982
-0.107493331
-0.163272045
-0.187757676
-0.283162682
-0.110389045
-0.167597365
-0.057912819
-0.089213767
0.139737983
0.206016706
0.323126881
0.479944212
0.566118569
0.842900245
-0.147542536
-0.223093435
0.111054012
0.163171536
0.027037423
0.037676182
-0.042669233
-0.066444463
0.135389569
0.199521493
0.18037177
0.266711285
0.203547956
0.301329492
0.428001378
0.636594967
-0.006639346
-0.012626717
0.538807318
0.802105504
-0.094740674
-0.144223435
0.01535444
0.020225342

-0.087937056
-0.085301447
-0.05348538
-0.010884272
-0.118403016
0.034144248
-0.009388782
-0.081347579
-0.135582577
-0.04121055
-0.024229312
-0.033306675
0.062175543
0.045562994
-0.084943116
-0.049906886
0.107725903
-0.052622244
0.038590355
-0.074734129
-0.110002155
-0.083079055
-0.273681681
-0.078572962
0.391559671
0.041774951
-0.101837834
0.028746554
-0.097331277
0.012727199
-0.115548336
-0.055778714
-0.095405006
-0.05720832
-0.031300948
0.066278723
0.156817331
0.276781676
-0.075550899
0.052117524
0.010638759
-0.02377523
0.064131923
0.086339515
0.097781536
0.208593589
-0.005987372
0.263298185
-0.049482761
0.004870902

-0.012887078
0.016426142
-0.009575226
0.031526476
0.006780325
0.008606378
0.020735783
0.025259927
0.023302516
0.013393529

0.000166077
0.000269818
9.16849E-05
0.000993919
4.59728E-05
7.40697E-05
0.000429973
0.000638064
0.000543007
0.000179387

-0.016378138
0.047386879
-0.268360063
-0.074219084
0.170728921
-0.055757402
0.046866309
0.044218994
0.029917544
-0.063268006

-0.027173526
0.06807211
-0.403558252
-0.113570391
0.252307787
-0.085994227
0.067294536
0.063340249
0.041978211
-0.097212796

-0.010795387
0.020685231
-0.135198189
-0.039351307
0.081578866
-0.030236825
0.020428227
0.019121254
0.012060667
-0.03394479

Diff^2
0.007732926
0.007276337
0.002860686
0.000118467
0.014019274
0.00116583
8.81492E-05
0.006617429
0.018382635
0.001698309
0.00058706
0.001109335
0.003865798
0.002075986
0.007215333
0.002490697
0.01160487
0.002769101
0.001489215
0.00558519
0.012100474
0.006902129
0.074901662
0.00617371
0.153318976
0.001745147
0.010370944
0.000826364
0.009473377
0.000161982
0.013351418
0.003111265
0.009102115
0.003272792
0.000979749
0.004392869
0.024591675
0.076608096
0.005707938
0.002716236
0.000113183
0.000565262
0.004112904
0.007454512
0.009561229
0.043511285
3.58486E-05
0.069325934
0.002448544
2.37257E-05

RSS
INTP
INTP Est.
e
0.685735491
-0.033559341
-0.03526899
-0.083136167
-0.093125009
MSS dari RSS
0.035997647
0.045903824
0.011823026
0.051270883
0.063727649
0.055981686
0.069225143
SE of regression
-0.016260533
-0.015081329
0.108733738
-0.124186675
-0.141030839
-0.105462838
-0.119180172
Var (e)
-0.44873049
-0.519772575
0.01160598
0.107937314
0.129857217
-0.086559681
-0.09712024
0.038052302
0.048301601
-0.073930286
-0.082381771
-0.228264069
-0.26248887
-0.0116372
-0.009685911
-0.097372803
-0.109739123
0.150117657
0.179081561
0.067135495
0.082241607
-0.013119903
-0.011416221
-0.069090755
-0.076734052
-0.229621119
-0.264072543
-0.08885489
-0.099798743
-0.230079101
-0.264607008
-0.048361634
-0.052543224
0.164676563
0.196071763
0.016959549
0.023686415
-0.013287578
-0.011611898
0.075027569
0.091451635
-0.148223106
-0.169081287
0.456539366
0.536674849
-0.16082815
-0.183791338
-0.03674865
-0.038990904
-0.11385119
-0.128969356
-0.29610333
-0.341657101
0.109706229
0.131921536
-0.045976303
-0.049759549
-0.04724349
-0.051238353
0.336185458
0.396222171
-0.009611501
-0.007321927
0.162482584
0.193511396
0.015713381
0.022232142
0.182289716
0.216626265
0.352532426
0.415299038
-0.036539995
-0.038747404
0.053627701
0.066478048
0.078933055
0.096009326
-0.006639346
-0.003853429
0.111773825
0.134334415
0.146435797
0.17478484
0.024461309
0.032440949

Diff^2
-0.001709648
-0.009988842
0.009906177
0.012456765
0.013243456
0.001179205
-0.016844163
-0.013717334
-0.071042085
0.021919903
-0.010560559
0.010249299
-0.008451485
-0.034224801
0.001951289
-0.01236632
0.028963904
0.015106112
0.001703681
-0.007643296
-0.034451424
-0.010943852
-0.034527906
-0.00418159
0.031395201
0.006726867
0.00167568
0.016424066
-0.020858181
0.080135484
-0.022963188
-0.002242254
-0.015118166
-0.04555377
0.022215307
-0.003783247
-0.003994863
0.060036713
0.002289575
0.031028812
0.00651876
0.034336549
0.062766612
-0.002207409
0.012850347
0.017076271
0.002785917
0.02256059
0.028349043
0.00797964

2.9229E-06
9.9777E-05
9.81323E-05
0.000155171
0.000175389
1.39052E-06
0.000283726
0.000188165
0.005046978
0.000480482
0.000111525
0.000105048
7.14276E-05
0.001171337
3.80753E-06
0.000152926
0.000838908
0.000228195
2.90253E-06
5.842E-05
0.001186901
0.000119768
0.001192176
1.74857E-05
0.000985659
4.52507E-05
2.8079E-06
0.00026975
0.000435064
0.006421696
0.000527308
5.0277E-06
0.000228559
0.002075146
0.00049352
1.4313E-05
1.59589E-05
0.003604407
5.24215E-06
0.000962787
4.24942E-05
0.001178999
0.003939648
4.87266E-06
0.000165131
0.000291599
7.76133E-06
0.00050898
0.000803668
6.36747E-05

0.00011654
0.000427879
0.01827855
0.001548525
0.006655111
0.000914266
0.000417312
0.000365622
0.00014546
0.001152249

-0.253376575
0.033669074
-0.296873041
0.01213121
0.222328508
-0.16290026
0.316268628
-0.031422031
0.375782205
0.127536591

-0.291795095
0.043186386
-0.34255535
0.018051758
0.263351425
-0.186209484
0.372979286
-0.032774755
0.442431466
0.152729519

-0.03841852
0.009517312
-0.04568231
0.005920548
0.041022917
-0.023309225
0.056710657
-0.001352723
0.066649261
0.025192928

0.001475983
9.05792E-05
0.002086873
3.50529E-05
0.00168288
0.00054332
0.003216099
1.82986E-06
0.004442124
0.000634684

RSS
SMCB
SMCB Est.
e
0.049101708
-0.056984841
-0.069404288
-0.008756002
-0.005453319
MSS dari RSS
-0.00864521
-0.00530641
0.000846581
-0.258558176
-0.336688566
-0.275201109
-0.358756933
SE of regression
0.900406133
1.200086806
0.029096068
-0.133492382
-0.170852543
-0.130200469
-0.166487498
Var (e)
-0.072363647
-0.089796435
0.000811224
0.173503773
0.236221365
-0.066357661
-0.081832556
0.035930798
0.053800942
0.123401175
0.169785809
-0.051201363
-0.061735453
-0.176585654
-0.2279938
-0.13572321
-0.173810598
0.071834002
0.10140824
-0.012864505
-0.010901153
-0.013119903
-0.011239809
-0.0135352
-0.011790488
-0.013934845
-0.012320413
-0.01385489
-0.012214395
-0.013862885
-0.012224996
-0.013878875
-0.012246199
-0.234674087
-0.305018496
-0.113343482
-0.144135297
0.171897607
0.234091606
0.049292274
0.07151813
-0.160146794
-0.206196033
0.022272124
0.035689674
-0.178558646
-0.230609969
-0.07174865
-0.088980956
-0.202776449
-0.26272254
-0.299862729
-0.391458
0.10081734
0.139839864
-0.04359535
-0.051649955
-0.044689211
-0.053100404
0.132888755
0.182366248
-0.040861501
-0.048024898
0.47492498
0.635902947
0.056540529
0.081129244
0.073446179
0.103545971
0.294419219
0.396554068
0.268234089
0.361832841
-0.018341996
-0.018164254
-0.20218353
-0.261936334
0.007646369
0.016296065
0.134197843
0.184102086
-0.00650538
-0.002469016
0.04323178
0.063481973

-0.012419448
0.003302683
0.0033388
-0.07813039
-0.083555823
0.299680673
-0.03736016
-0.036287029
-0.017432789
0.062717592
-0.015474896
0.017870144
0.046384634
-0.01053409
-0.051408146
-0.038087388
0.029574239
0.001963351
0.001880094
0.001744711
0.001614431
0.001640495
0.001637889
0.001632677
-0.070344409
-0.030791815
0.062193998
0.022225855
-0.046049239
0.01341755
-0.052051323
-0.017232306
-0.05994609
-0.091595271
0.039022524
-0.008054605
-0.008411193
0.049477493
-0.007163396
0.160977967
0.024588716
0.030099793
0.102134849
0.093598752
0.000177743
-0.059752805
0.008649696
0.049904243
0.004036364
0.020250193

Diff^2
0.000154243
1.09077E-05
1.11476E-05
0.006104358
0.006981576
0.089808506
0.001395782
0.001316748
0.000303902
0.003933496
0.000239472
0.000319342
0.002151534
0.000110967
0.002642798
0.001450649
0.000874636
3.85475E-06
3.53475E-06
3.04402E-06
2.60639E-06
2.69123E-06
2.68268E-06
2.66563E-06
0.004948336
0.000948136
0.003868093
0.000493989
0.002120532
0.000180031
0.00270934
0.000296952
0.003593534
0.008389694
0.001522757
6.48767E-05
7.07482E-05
0.002448022
5.13142E-05
0.025913906
0.000604605
0.000905998
0.010431527
0.008760726
3.15924E-08
0.003570398
7.48172E-05
0.002490433
1.62922E-05
0.00041007

RSS
0.230069147
MSS dari RSS
0.003966709
SE of regression
0.062981818
Var (e)
0.003831691

-0.123498881
0.047528723
-0.258898357
-0.056573391
0.10140119
-0.086402564
0.274936484
0.117506666
0.164934965
0.140036591

-0.157601258
0.069179678
-0.337139642
-0.06885871
0.140614043
-0.108411902
0.370720152
0.161969747
0.22485921
0.191844209

-0.034102376
0.021650955
-0.078241285
-0.012285319
0.039212854
-0.022009339
0.095783667
0.044463082
0.059924245
0.051807618

0.001162972
0.000468764
0.006121699
0.000150929
0.001537648
0.000484411
0.009174511
0.001976966
0.003590915
0.002684029

INKP
INKP Est.
e
-0.064921349
-0.109067692
-0.077383453
-0.12898013
0.075565316
0.115407388
-0.115354293
-0.189651421
-0.39983879
-0.644211862
0.241315224
0.380249065
-0.075397144
-0.125806328
-0.157424242
-0.256872429
-0.207767868
-0.337313441
-0.095528182
-0.157972486
-0.181533812
-0.295395642
0.018283739
0.023880647
-0.125716
-0.206207761
-0.424500628
-0.68361751
-0.374274563
-0.603364341
-0.184680213
-0.300423083
0.487326959
0.773336225
0.014913273
0.018495185
-0.161768551
-0.263813936
-0.0135352
-0.026960896
-0.013934845
-0.027599465
-0.01385489
-0.027471711
-0.013862885
-0.027484485
-0.013878875
-0.027510035
-0.013894866
-0.027535585
-0.013343482
-0.026654562
-0.203763768
-0.330915533
0.08483149
0.130213243
-0.245230828
-0.397173221
0.057556808
0.086632689
-0.337978936
-0.545369771
-0.01174865
-0.024106278
-0.011287088
-0.023368775
-0.203937432
-0.33119302
0.069706229
0.10604551
0.063812057
0.096627571
-0.010206453
-0.021642094
0.127962646
0.199129889
0.323721832
0.511921561
0.71832674
1.142436696
0.122902085
0.191043926
-0.008186474
-0.018414494
-0.123746643
-0.203061046
0.177082297
0.277615184
0.015243862
0.019023413
0.406262247
0.643807861
-0.214331653
-0.347801313
0.109857627
0.170200982
0.167407664
0.262156678
0.179034249
0.28073409

Diff^2
-0.044146344
-0.051596677
0.039842072
-0.074297128
-0.244373072
0.138933841
-0.050409184
-0.099448187
-0.129545573
-0.062444304
-0.113861829
0.005596908
-0.080491761
-0.259116882
-0.229089778
-0.11574287
0.286009265
0.003581911
-0.102045384
-0.013425697
-0.01366462
-0.01361682
-0.0136216
-0.013631159
-0.013640719
-0.01331108
-0.127151765
0.045381752
-0.151942393
0.029075882
-0.207390835
-0.012357628
-0.012081688
-0.127255588
0.036339281
0.032815514
-0.011435642
0.071167242
0.18819973
0.424109956
0.068141841
-0.01022802
-0.079314403
0.100532888
0.00377955
0.237545614
-0.13346966
0.060343355
0.094749014
0.101699841

RSS
ASII
0.0019489
0.889570392
-0.076479887
0.002662217
0.063186444
0.001587391 MSS dari RSS
-0.022068029
0.005520063
0.015337421
-0.124204435
0.059718198
-0.239303673
0.019302612 SE of regression
0.081315224
0.002541086
0.12384434
-0.077572767
0.009889942
0.034640339
0.016782055 Var (e)
-0.148111711
0.003899291
0.015003604
-0.028174002
0.012964516
0.000309006
3.13254E-05
-0.121018136
0.006478924
0.03795243
0.067141558
-0.04689152
0.052482126
-0.328710371
0.013396412
-0.101552134
0.0818013
0.340268136
1.28301E-05
0.04510651
0.01041326
0.356743111
0.000180249
-0.0835352
0.000186722
-0.132214414
0.000185418
-0.148001232
0.000185548
0.126982185
0.000185809
-0.07560727
0.000186069
0.315052503
0.000177185
0.12527038
0.016167571
-0.108939752
0.002059503
0.486792274
0.023086491
0.083065875
0.000845407
-0.023906541
0.043010958
-0.130235175
0.000152711
-0.159399657
0.000145967
-0.184515434
0.016193985
-0.219912854
0.001320543
0.170429121
0.001076858
0.275452269
0.000130774
-0.343539786
0.005064776
0.061460183
0.035419138
0.090388499
0.179869255
0.213276234
0.00464331
0.189670245
0.000104612
-0.042669233
0.006290774
0.085389569
0.010106862
-0.013664178
1.4285E-05
0.144337429
0.056427919
-0.006781231
0.01781415
0.027646369
0.00364132
0.098325149
0.008977376
0.06349462
0.010342858
0.003194858

-0.068351822
0.09419539
-0.308764103
0.037752328
0.202591666
-0.040240161
0.208520444
-0.005781006
0.082438552
0.129338393

-0.114549037
0.145175247
-0.49868917
0.054988318
0.318375051
-0.069631127
0.327848285
-0.014570942
0.126389713
0.201328111

-0.046197215
0.050979857
-0.189925067
0.01723599
0.115783385
-0.029390966
0.11932784
-0.008789937
0.043951161
0.071989718

0.002134183
0.002598946
0.036071531
0.000297079
0.013405792
0.000863829
0.014239133
7.7263E-05
0.001931705
0.005182519

-0.015111082
0.134382306
-0.079504292
-0.032274606
0.02153106
0.02079127
0.158027833
0.134959735
0.137060401
0.102157804

ASII Est.
e
-0.101268716
0.117594993
-0.016002776
-0.176055327
-0.356421247
0.146003644
-0.10298131
0.072861904
-0.213519154
-0.025571123
0.019063091
-0.171062246
0.078052107
-0.054902353
-0.496525747
-0.140558106
0.551795036
0.089262886
0.577612097
-0.112324723
-0.188607342
-0.213346027
0.21756592
-0.099901285
0.512280953
0.21488344
-0.152134851
0.781405253
0.148746997
-0.01888381
-0.18550578
-0.231207896
-0.2705655
-0.326034922
0.285649311
0.450225524
-0.519764138
0.114889862
0.160221892
0.352792754
0.315801058
-0.048285831
0.152388335
-0.002833545
0.244762404
0.007952356
0.061902024
0.172658996
0.11807792
0.023585357

-0.024788829
0.054408549
0.006065253
-0.051850892
-0.117117574
0.06468842
-0.025408543
0.038221565
-0.065407443
0.002602879
0.018754085
-0.050044111
0.040099677
-0.008010833
-0.167815376
-0.039005972
0.211526901
0.044156376
0.220868986
-0.028789523
-0.056392928
-0.065344796
0.090583735
-0.024294015
0.19722845
0.089613061
-0.043195099
0.294612978
0.065681122
0.005022731
-0.055270606
-0.071808239
-0.086050066
-0.106122068
0.115220191
0.174773255
-0.176224352
0.053429678
0.069833394
0.13951652
0.126130813
-0.005616598
0.066998766
0.010830632
0.100424975
0.014733587
0.034255655
0.074333847
0.0545833
0.020390499

Diff^2
0.000614486
0.00296029
3.67873E-05
0.002688515
0.013716526
0.004184592
0.000645594
0.001460888
0.004278134
6.77498E-06
0.000351716
0.002504413
0.001607984
6.41735E-05
0.028162001
0.001521466
0.04474363
0.001949786
0.048783109
0.000828837
0.003180162
0.004269942
0.008205413
0.000590199
0.038899062
0.008030501
0.001865817
0.086796807
0.00431401
2.52278E-05
0.00305484
0.005156423
0.007404614
0.011261893
0.013275692
0.030545691
0.031055022
0.002854731
0.004876703
0.019464859
0.015908982
3.15462E-05
0.004488835
0.000117303
0.010085176
0.000217079
0.00117345
0.005525521
0.002979337
0.000415772

RSS
GJTL
GJTL Est.
0.534713255
-0.035006819
-0.058433346
-0.11401916
-0.189253713
MSS dari RSS
0.050178319
0.082607293
0.009219194
-0.258558176
-0.428566294
-0.341867776
-0.566501612
SE of regression
0.269093002
0.445063319
0.096016634
-0.140117641
-0.232464848
-0.070635252
-0.117423177
Var (e)
-0.265954401
-0.440812188
0.008200932
-0.024992468
-0.041852632
0.09064717
0.149611382
-0.076917499
-0.127824666
0.002654221
0.003921863
-0.053264069
-0.08866179
-0.229028504
-0.379674152
-0.234488642
-0.388714477
0.153993626
0.254493815
0.048359985
0.079596685
0.063803174
0.105165902
-0.031392342
-0.052448874
-0.232116663
-0.384787202
-0.153389774
-0.254439457
-0.311160182
-0.515659191
0.024582663
0.040228683
0.171290319
0.28313187
0.017906518
0.029175021
0.047318483
0.077872275
0.87250656
1.444132353
-0.316118274
-0.523868281
0.161702409
0.267257212
-0.067447535
-0.11214529
-0.129395709
-0.214712594
0.010935135
0.017632534
-0.097345566
-0.161647322
0.037325277
0.061326569
0.035192528
0.057795388
-0.075423844
-0.125351627
-0.033224202
-0.055481876
0.038007546
0.0624562
0.354690376
0.586786494
0.057989804
0.095540732
0.163688526
0.270545616
0.179199093
0.29622639
0.172647051
0.285378205
0.231116878
0.382186426
-0.160627385
-0.266422735
-0.079366618
-0.131879661
0.071784145
0.118379959
0.084403711
0.139274115
-0.006150936
-0.010656795

-0.005100912
0.229162257
-0.106008101
-0.031996961
0.052319047
0.051159762
0.266215911
0.230067116
0.233358958
0.178664947

0.01001017
0.094779951
-0.026503809
0.000277644
0.030787987
0.030368492
0.108188078
0.095107381
0.096298557
0.076507143

0.000100203
0.008983239
0.000702452
7.70865E-08
0.0009479
0.000922245
0.01170466
0.009045414
0.009273412
0.005853343

-0.047518489
0.081151912
-0.1657338
-0.0723926
0.065686904
-0.05337645
0.04423473
0.041838042
0.130566894
0.074203258

-0.079148861
0.133890126
-0.274877404
-0.12033281
0.108284784
-0.088847859
0.072766519
0.068798334
0.215706284
0.122385273

e
-0.023426527
-0.075234553
0.032428973
-0.170008117
-0.224633836
0.175970317
-0.092347207
-0.046787926
-0.174857787
-0.016860164
0.058964211
-0.050907166
0.001267642
-0.035397722
-0.150645648
-0.154225835
0.100500189
0.0312367
0.041362728
-0.021056532
-0.152670539
-0.101049683
-0.204499009
0.01564602
0.111841551
0.011268503
0.030553792
0.571625793
-0.207750007
0.105554803
-0.044697755
-0.085316885
0.006697399
-0.064301755
0.024001293
0.02260286
-0.049927783
-0.022257674
0.024448654
0.232096119
0.037550928
0.10685709
0.117027297
0.112731154
0.151069548
-0.105795351
-0.052513042
0.046595813
0.054870404
-0.004505859

Diff^2
0.000548802
0.005660238
0.001051638
0.02890276
0.05046036
0.030965552
0.008528007
0.00218911
0.030575246
0.000284265
0.003476778
0.00259154
1.60692E-06
0.001252999
0.022694111
0.023785608
0.010100288
0.000975731
0.001710875
0.000443378
0.023308294
0.010211038
0.041819845
0.000244798
0.012508532
0.000126979
0.000933534
0.326756047
0.043160065
0.011141816
0.001997889
0.007278971
4.48552E-05
0.004134716
0.000576062
0.000510889
0.002492784
0.000495404
0.000597737
0.053868608
0.001410072
0.011418438
0.013695388
0.012708313
0.022822008
0.011192656
0.00275762
0.00217117
0.003010761
2.03028E-05

RSS
INDR
INDR Est.
e
0.881790819
-0.08628887
-0.125557991
-0.175422669
-0.238714287
MSS dari RSS
-0.18864521
-0.255500443
0.01520329
-0.106119152
-0.150732743
-0.143669578
-0.198403404
SE of regression
0.022565224
0.012633428
0.123301622
0.002438354
-0.012917846
-0.016623276
-0.037116785
Var (e)
-0.119068987
-0.167172694
0.014944985
0.137941895
0.159105327
-0.099037399
-0.141742383
-0.04338609
-0.07109246
-0.044763619
-0.072841248
-0.184011195
-0.249617512
-0.178303867
-0.242371998
-0.18226642
-0.247402501
0.433110092
0.533824461
0.112135495
0.126343831
0.023917134
0.014349692
-0.120678057
-0.169215425
-0.213934845
-0.2876059
-0.05385489
-0.084382712
-0.086779552
-0.126180917
-0.070058651
-0.104953556
0.176581325
0.20815849
0.086656518
0.093998001
0.30489424
0.371053088
0.193688826
0.229876643
-0.127373685
-0.177715596
-0.302533215
-0.400082464
-0.10280107
-0.146520403
-0.01174865
-0.030928397
-0.061287088
-0.093817965
-0.136704834
-0.189561588
-0.022341964
-0.04437672
0.087298959
0.094813586
-0.099095341
-0.141815941
-0.034358632
-0.059632007
-0.047111501
-0.075821909
0.172872194
0.203449709
0.057257203
0.056675261
-0.173134928
-0.235809976
-0.032158932
-0.056839464
0.043504682
0.03921629
0.149648146
0.173966536
-0.006781231
-0.024622206
0.055860654
0.054902327
0.022764538
0.012886459
0.183970811
0.21753952
-0.086150936
-0.125382882

-0.039269121
-0.063291618
-0.066855232
-0.044613591
-0.054733826
-0.009931796
-0.0153562
-0.020493509
-0.048103707
0.021163432
-0.042704984
-0.02770637
-0.028077628
-0.065606317
-0.064068131
-0.065136081
0.100714369
0.014208335
-0.009567442
-0.048537369
-0.073671055
-0.030527822
-0.039401365
-0.034894906
0.031577165
0.007341483
0.066158847
0.036187817
-0.050341911
-0.097549249
-0.043719333
-0.019179747
-0.032530877
-0.052856754
-0.022034756
0.007514627
-0.0427206
-0.025273375
-0.028710407
0.030577515
-0.000581942
-0.062675048
-0.024680532
-0.004288392
0.02431839
-0.017840975
-0.000958327
-0.009878079
0.033568709
-0.039231946

-0.031630372
0.052738214
-0.109143604
-0.047940211
0.04259788
-0.035471409
0.028531789
0.026960292
0.08513939
0.048182014

0.00100048
0.002781319
0.011912326
0.002298264
0.001814579
0.001258221
0.000814063
0.000726857
0.007248716
0.002321507

-0.205851822
-0.027543741
-0.127956022
-0.005725933
0.057549472
0.018052121
0.157025428
0.144218994
0.124638041
-0.005796742

-0.277344418
-0.05098043
-0.17845488
-0.023282494
0.057046299
0.006903997
0.183332072
0.16707417
0.142215944
-0.023372386

-0.071492596
-0.02343669
-0.050498857
-0.017556561
-0.000503173
-0.011148125
0.026306645
0.022855176
0.017577903
-0.017575645

Diff^2
0.001542064
0.004005829
0.004469622
0.001990372
0.002995792
9.86406E-05
0.000235813
0.000419984
0.002313967
0.000447891
0.001823716
0.000767643
0.000788353
0.004304189
0.004104725
0.004242709
0.010143384
0.000201877
9.15359E-05
0.002355876
0.005427424
0.000931948
0.001552468
0.001217654
0.000997117
5.38974E-05
0.004376993
0.001309558
0.002534308
0.009515856
0.00191138
0.000367863
0.001058258
0.002793836
0.00048553
5.64696E-05
0.00182505
0.000638743
0.000824287
0.000934984
3.38657E-07
0.003928162
0.000609129
1.83903E-05
0.000591384
0.0003183
9.18391E-07
9.75764E-05
0.001126858
0.001539146

RSS
INDF
INDF Est.
e
0.104863466
-0.180380286
-0.212480689
-0.225539219
-0.261819868
MSS dari RSS
0.044926218
0.03368186
0.001807991
-0.093303939
-0.117343908
-0.212238146
-0.24728755
SE of regression
0.119222201
0.114855231
0.042520475
-0.081847807
-0.104827311
-0.210635252
-0.245536279
Var (e)
0.047698082
0.036710308
0.001357073
0.039162013
0.027384077
0.020447895
0.006937641
-0.071734086
-0.093777389
0.149860037
0.148329133
0.016180376
0.002275089
-0.092718281
-0.116704037
-0.129913478
-0.157342299
0.053993626
0.043588615
0.049635495
0.038827063
0.016291862
0.002396895
-0.099249485
-0.123839818
-0.107684845
-0.133056017
-0.082820408
-0.105889943
-0.087936959
-0.111480121
-0.053878875
-0.074269367
0.277771801
0.288081361
-0.045601546
-0.065225827
0.053379089
0.042917191
0.361792274
0.379879394
-0.058542516
-0.07936471
0.035408413
0.023283016
0.010835293
-0.003564774
-0.189526428
-0.222473466
-0.227503304
-0.263965764
-0.148320079
-0.177452751
-0.090293771
-0.114055096
0.033216244
0.020887923
-0.093539786
-0.117601587
-0.009968388
-0.026294199
0.126752135
0.123082192
0.151054012
0.149633632
0.198219689
0.201165314
-0.036757903
-0.05556355
-0.095702868
-0.119964899
-0.136160488
-0.164167578
0.104132751
0.09836899
-0.040114564
-0.059230929
-0.041122104
-0.060331735
0.136209916
0.133415455
0.05599462
0.045774836
0.023260829
0.010010961

-0.032100403
-0.03628065
-0.011244358
-0.024039969
-0.035049403
-0.00436697
-0.022979504
-0.034901028
-0.010987774
-0.011777936
-0.013510254
-0.022043303
-0.001530904
-0.013905287
-0.023985756
-0.02742882
-0.010405011
-0.010808432
-0.013894967
-0.024590333
-0.025371173
-0.023069535
-0.023543162
-0.020390492
0.01030956
-0.019624281
-0.010461898
0.01808712
-0.020822193
-0.012125397
-0.014400068
-0.032947038
-0.03646246
-0.029132672
-0.023761326
-0.01232832
-0.024061801
-0.016325811
-0.003669943
-0.001420381
0.002945625
-0.018805648
-0.024262032
-0.02800709
-0.005763761
-0.019116365
-0.019209631
-0.002794461
-0.010219785
-0.013249868

Diff^2
0.001030436
0.001316286
0.000126436
0.00057792
0.001228461
1.90704E-05
0.000528058
0.001218082
0.000120731
0.00013872
0.000182527
0.000485907
2.34367E-06
0.000193357
0.000575317
0.00075234
0.000108264
0.000116822
0.00019307
0.000604684
0.000643696
0.000532203
0.00055428
0.000415772
0.000106287
0.000385112
0.000109451
0.000327144
0.000433564
0.000147025
0.000207362
0.001085507
0.001329511
0.000848713
0.000564601
0.000151987
0.00057897
0.000266532
1.34685E-05
2.01748E-06
8.67671E-06
0.000353652
0.000588646
0.000784397
3.32209E-05
0.000365435
0.00036901
7.80901E-06
0.000104444
0.000175559

0.005111191
0.000549278
0.002550135
0.000308233
2.53183E-07
0.000124281
0.00069204
0.000522359
0.000308983
0.000308903

-0.091566108
-0.03705461
-0.167024123
0.071197144
-0.005741667
-0.077185974
0.109619345
-0.074746523
0.068277332
0.097651534

-0.115445211
-0.055887723
-0.19788818
0.062384618
-0.021676222
-0.099733944
0.104363464
-0.09706868
0.059194527
0.091287823

-0.023879103
-0.018833113
-0.030864057
-0.008812526
-0.015934554
-0.02254797
-0.005255881
-0.022322157
-0.009082805
-0.006363711

0.000570212
0.000354686
0.00095259
7.76606E-05
0.00025391
0.000508411
2.76243E-05
0.000498279
8.24974E-05
4.04968E-05

RSS
RMBA
RMBA Est.
e
0.024379253
7.115634207
0.272723573
-0.449140617
0.087882079
MSS dari RSS
0.197540357
0.103683405
0.000420332
-0.18234735
0.094401039
-0.215430994
0.093592657
SE of regression
0.034793485
0.099706767
0.020501999
-0.101349525
0.09638018
-0.093204059
0.096579211
Var (e)
-0.310635252
0.091266388
0.000125197
0.003578961
0.098944056
0.228634515
0.104443176
0.125235611
0.101916675
-0.021430286
0.098332967
-0.041900433
0.097832789
-0.1366372
0.095517944
-0.155123562
0.095066239
0.237326959
0.104655571
-0.046197838
0.097727784
0.021362856
0.099378596
-0.1135352
0.09608243
0.023102192
0.099421096
-0.01385489
0.098518068
-0.013862885
0.098517873
-0.049593161
0.097644821
0.134253282
0.102137017
0.309237163
0.106412661
-0.037677822
0.097935967
0.261792274
0.105253369
0.18299046
0.103327886
-0.077784405
0.096955982
-0.450488471
0.087849145
-0.16799865
0.094751642
-0.048324125
0.09767583
-0.087312122
0.096723177
0.073039562
0.100641291
-0.048723556
0.09766607
-0.090206453
0.096652456
-0.053446649
0.097550663
0.035843044
0.099732412
-0.008945988
0.098638015
-0.008676863
0.098644591
-0.051664735
0.097594203
-0.052922119
0.09756348
-0.102366325
0.096355335
-0.00697836
0.098686093
-0.05941281
0.097404883
-0.062194901
0.097336904
0.052176302
0.100131507
0.160161287
0.102770066
0.089087159
0.101033406

-6.842910634
0.537022696
-0.093856951
0.276748389
0.309023651
0.064913282
0.197729706
0.18978327
0.40190164
0.095365095
-0.124191339
-0.023318936
0.119763253
0.139733222
0.232155144
0.250189801
-0.132671388
0.143925622
0.07801574
0.209617629
0.076318904
0.112372958
0.112380758
0.147237982
-0.032116265
-0.202824502
0.135613788
-0.156538906
-0.079662574
0.174740387
0.538337615
0.262750293
0.145999954
0.184035299
0.027601728
0.146389625
0.186858908
0.150997312
0.063889368
0.107584002
0.107321453
0.149258939
0.150485599
0.19872166
0.105664453
0.156817693
0.159531805
0.047955205
-0.05739122
0.011946247

Diff^2
46.82542595
0.288393376
0.008809127
0.076589671
0.095495617
0.004213734
0.039097037
0.03601769
0.161524928
0.009094501
0.015423489
0.000543773
0.014343237
0.019525373
0.053896011
0.062594937
0.017601697
0.020714585
0.006086456
0.04393955
0.005824575
0.012627682
0.012629435
0.021679023
0.001031454
0.041137779
0.0183911
0.024504429
0.006346126
0.030534203
0.289807388
0.069037716
0.021315987
0.033868991
0.000761855
0.021429922
0.034916252
0.022800188
0.004081851
0.011574318
0.011517894
0.022278231
0.022645915
0.039490298
0.011164977
0.024591789
0.025450397
0.002299702
0.003293752
0.000142713

RSS
48.86820574
MSS dari RSS
0.842555271
SE of regression
0.917908095
Var (e)
0.82826874

-0.179764866
0.257353285
-0.089067133
-0.005725933
0.085167423
-0.089090736
-0.00576527
0.085128085
-0.005796742
-0.047463409

0.094464141
0.105144904
0.096680295
0.098716695
0.100937629
0.096679718
0.098715734
0.100936668
0.098714965
0.097696861

0.274229007
-0.15220838
0.185747428
0.104442628
0.015770205
0.185770454
0.104481004
0.015808582
0.104511707
0.145160269

0.075201548
0.023167391
0.034502107
0.010908263
0.000248699
0.034510661
0.01091628
0.000249911
0.010922697
0.021071504

GGRM
GGRM Est.
e
-0.118699126
-0.149097105
-0.28570211
-0.347400853
0.229450028
0.264304386
-0.219260518
-0.268506353
-0.0593819
-0.078662265
0.210065224
0.241286358
-0.004188353
-0.013123991
-0.067101554
-0.087828786
-0.213337954
-0.261473746
0.040140704
0.0395135
0.182746282
0.208847126
0.000454986
-0.007610368
0.057272004
0.059855658
-0.015168831
-0.0261625
-0.111995623
-0.141137188
-0.099915822
-0.126793313
0.048462331
0.049394819
0.09413138
0.103623454
-0.054012096
-0.072286018
-0.052294889
-0.070246962
-0.191354199
-0.235369655
-0.131501949
-0.164299514
-0.080529552
-0.103773545
-0.04364078
-0.059970844
0.372608202
0.434294178
-0.044316933
-0.060773726
-0.026986208
-0.040194766
0.065495978
0.069621022
-0.09034119
-0.115424143
-0.044768774
-0.061310254
-0.122468902
-0.153573436
-0.103640542
-0.131216144
-0.035096611
-0.049825273
-0.150632947
-0.187016166
0.039351619
0.03857652
0.111359605
0.124080702
-0.118640187
-0.149027119
0.003545126
-0.003941055
-0.009611501
-0.019563581
0.144387346
0.163298713
0.118490768
0.132548433
0.048223782
0.049111561
-0.041448156
-0.057367264
-0.08753024
-0.112086346
0.206136394
0.236621162
0.173398949
0.197747856
-0.002822552
-0.011502203
0.027573305
0.024590639
0.111141679
0.123821931
-0.062071989
-0.081856547

-0.030397978
-0.061698743
0.034854358
-0.049245836
-0.019280365
0.031221134
-0.008935638
-0.020727232
-0.048135791
-0.000627204
0.026100844
-0.008065354
0.002583654
-0.01099367
-0.029141565
-0.026877491
0.000932489
0.009492073
-0.018273922
-0.017952072
-0.044015456
-0.032797565
-0.023243993
-0.016330064
0.061685976
-0.016456793
-0.013208558
0.004125044
-0.025082953
-0.01654148
-0.031104534
-0.027575602
-0.014728661
-0.036383219
-0.000775099
0.012721097
-0.030386932
-0.00748618
-0.009952079
0.018911367
0.014057665
0.000887778
-0.015919108
-0.024556107
0.030484768
0.024348907
-0.008679651
-0.002982666
0.012680252
-0.019784559

Diff^2
0.000924037
0.003806735
0.001214826
0.002425152
0.000371732
0.000974759
7.98456E-05
0.000429618
0.002317054
3.93384E-07
0.000681254
6.50499E-05
6.67527E-06
0.000120861
0.000849231
0.0007224
8.69535E-07
9.00995E-05
0.000333936
0.000322277
0.00193736
0.00107568
0.000540283
0.000266671
0.00380516
0.000270826
0.000174466
1.7016E-05
0.000629155
0.000273621
0.000967492
0.000760414
0.000216933
0.001323739
6.00778E-07
0.000161826
0.000923366
5.60429E-05
9.90439E-05
0.00035764
0.000197618
7.88151E-07
0.000253418
0.000603002
0.000929321
0.000592869
7.53363E-05
8.89629E-06
0.000160789
0.000391429

RSS
HMSP
0.035888523
-0.053588332
-0.234129136
MSS dari RSS
-0.029839815
0.000618768
-0.116825893
-0.037232014
SE of regression
0.145860679
0.02487504
0.037561236
-0.051988635
Var (e)
-0.149850938
0.000513025
0.064464089
0.175638573
0.02458626
-0.001085458
-0.038901156
-0.218654744
0.001007917
0.240602069
0.126508318
-0.058991462
0.060182749
-0.066173651
-0.068973001
0.169470448
-0.112470425
0.298605134
0.034275566
0.015121513
-0.018732587
-0.029754638
-0.085656962
-0.048477345
-0.005419536
-0.130783943
-0.174674759
0.066629306
0.164341158
-0.185882128
-0.042755273
-0.001136925
0.192734685
0.040274186
0.111813526
-0.007467574
-0.036890135
0.134125934
-0.065921016
-0.046639346
0.058828963
0.133159425
-0.045366622

-0.106897119
0.156986088
-0.102400467
0.005344178
0.030754683
-0.107870078
-0.009686839
-0.013655021
0.029917544
0.032517434

-0.135083089
0.178258791
-0.129743646
-0.001804813
0.028368291
-0.136238407
-0.019653038
-0.024364963
0.02737425
0.030461429

-0.028185971
0.021272704
-0.027343179
-0.007148991
-0.002386392
-0.028368329
-0.0099662
-0.010709942
-0.002543294
-0.002056005

0.000794449
0.000452528
0.000747649
5.11081E-05
5.69486E-06
0.000804762
9.93251E-05
0.000114703
6.46834E-06
4.22716E-06

-0.092586516
0.178552932
-0.062337574
0.014274067
0.072689705
-0.069393766
0.168992012
-0.022309931
0.086640233
0.032664797

HMSP Est.
e
-0.052478454
-0.253912925
-0.025981563
-0.123034386
-0.034229249
0.170052436
0.049219692
-0.050693627
-0.15988136
0.079235964
0.203276473
0.034743145
0.006100484
-0.036091558
-0.236647708
0.008436122
0.275758079
0.148460461
-0.058506879
0.074459152
-0.066520249
-0.069643563
0.196394523
-0.118174867
0.340473737
0.045553777
0.02418306
-0.013588916
-0.025886528
-0.08825833
-0.046775982
0.001264831
-0.138607776
-0.187577998
0.081651758
0.190671628
-0.200082376
-0.040391705
0.006043061
0.222351088
0.052246607
0.132065067
-0.001020222
-0.033847804
0.156959651
-0.066238377
-0.044725274
0.072948695
0.155881289
-0.04330526

0.001109878
-0.019783789
0.003858252
-0.006208493
0.003002766
0.024191758
0.011658456
0.001295008
-0.010030422
0.014771875
0.027637901
0.010156885
0.007185942
0.002809599
-0.017992965
0.007428205
0.035156011
0.021952143
0.000484583
0.014276403
-0.000346599
-0.000670562
0.026924075
-0.005704442
0.041868602
0.011278211
0.009061546
0.005143671
0.003868109
-0.002601368
0.001701363
0.006684367
-0.007823833
-0.012903239
0.015022452
0.026330471
-0.014200248
0.002363569
0.007179986
0.029616403
0.011972421
0.020251541
0.006447352
0.003042331
0.022833717
-0.000317362
0.001914072
0.014119732
0.022721864
0.002061362

Diff^2
1.23183E-06
0.000391398
1.48861E-05
3.85454E-05
9.0166E-06
0.000585241
0.00013592
1.67705E-06
0.000100609
0.000218208
0.000763854
0.000103162
5.16378E-05
7.89385E-06
0.000323747
5.51782E-05
0.001235945
0.000481897
2.34821E-07
0.000203816
1.20131E-07
4.49654E-07
0.000724906
3.25407E-05
0.00175298
0.000127198
8.21116E-05
2.64574E-05
1.49623E-05
6.76711E-06
2.89464E-06
4.46808E-05
6.12124E-05
0.000166494
0.000225674
0.000693294
0.000201647
5.58646E-06
5.15522E-05
0.000877131
0.000143339
0.000410125
4.15683E-05
9.25578E-06
0.000521379
1.00718E-07
3.66367E-06
0.000199367
0.000516283
4.24921E-06

RSS
0.01396233
MSS dari RSS
0.00024073
SE of regression
0.015515471
Var (e)
0.000168973

KLBF
KLBF Est.
-0.07603246
-0.099782608
-0.05637505
-0.070917964
-0.13364521
-0.184380299
-0.179986748
-0.252427512
-0.215430994
-0.304473307
0.121750007
0.190638174
-0.048144397
-0.058832198
0.069364748
0.113716453
-0.1587834
-0.221292836
0.032771507
0.059983491
0.148531228
0.229963314
-0.173290188
-0.242594384
0.004698746
0.018761874
0.004275614
0.018140552
-0.1991372
-0.280547746
-0.26226642
-0.373245737
0.21809619
0.332111452
0.028802162
0.054154965
0.226880097
0.345009608
-0.0135352
-0.008012576
-0.191354199
-0.269119306
-0.053070577
-0.066065726
-0.034271048
-0.038460783
-0.055545542
-0.069699928
0.225235569
0.342594808
0.091919676
0.146835768
0.018458454
0.03896642
0.263715351
0.399097938
-0.133569899
-0.184269713
0.083679777
0.134736424
-0.124391979
-0.170792995
-0.025833157
-0.026070711
-0.168429945
-0.235457677
-0.213778875
-0.30204736
0.096089208
0.152958245
0.047430291
0.081508227
-0.064751907
-0.083218415
0.066954689
0.110177558
0.097531356
0.155075873
0.281376593
0.425031438
0.366323137
0.549765659
0.128177162
0.200075712
-0.167467574
-0.234044546
0.183347961
0.281087678
0.11302164
0.177821572
0.064647341
0.106789483
0.126693988
0.197897841
0.169823361
0.26122836
0.04349462
0.075729148
-0.101389031
-0.137015814

-0.095989829
0.206528106
-0.06224023
0.02323754
0.088413516
-0.070113023
0.195860717
-0.01758026
0.103978514
0.043756596

-0.003403313
0.027975174
9.73438E-05
0.008963473
0.015723811
-0.000719257
0.026868706
0.004729672
0.017338281
0.011091799

1.15825E-05
0.00078261
9.47582E-09
8.03438E-05
0.000247238
5.1733E-07
0.000721927
2.23698E-05
0.000300616
0.000123028

-0.016378138
0.026110283
-0.263465759
-0.033503711
0.137115475
-0.055757402
0.073182098
0.09177997
0.327536591
-0.047463409

-0.012187104
0.050202251
-0.375006829
-0.037334036
0.213200596
-0.07001102
0.119321792
0.146630625
0.492812082
-0.057832245

Diff^2
-0.023750148
-0.014542915
-0.050735089
-0.072440764
-0.089042313
0.068888167
-0.010687801
0.044351705
-0.062509437
0.027211984
0.081432086
-0.069304197
0.014063127
0.013864939
-0.081410546
-0.110979317
0.114015262
0.025352803
0.118129511
0.005522623
-0.077765106
-0.012995149
-0.004189735
-0.014154386
0.117359239
0.054916092
0.020507966
0.135382587
-0.050699814
0.051056647
-0.046401016
-0.000237554
-0.067027732
-0.088268485
0.056869037
0.034077936
-0.018466508
0.043222869
0.057544517
0.143654845
0.183442522
0.07189855
-0.066576972
0.097739717
0.064799932
0.042142142
0.071203853
0.091404999
0.032234528
-0.035626783

RSS
UNVR
UNVR Est.
e
0.00056407
0.30465702
-0.061539706
-0.023298065
0.000211496
-0.109673433
-0.051085637
0.002574049 MSS dari RSS
-0.110686026
-0.051670206
0.005247664
0.005252707
-0.019921813
0.000727919
0.007928533
0.005833374
0.015596372
0.00474558 SE of regression
0.12955885
0.087023014
0.000114229
0.072475563
0.254627744
0.159225209
0.001967074
0.072041914
0.053818522
0.00390743 Var (e)
-0.101544343
-0.046392717
0.000740492
0.004855127
0.149293246
0.098415669
0.006631185
-0.128043484
-0.061690656
0.004803072
-0.026753026
-0.003215736
0.000197772
0.075871301
0.056029225
0.000192237
0.211030335
0.134056452
0.006627677
-0.080293916
-0.034124859
0.012316409
-0.031497189
-0.005954539
0.01299948
0.111509966
0.076603404
0.000642765
0.033647123
0.031653233
0.013954581
-0.046453236
-0.014588656
3.04994E-05
-0.042270832
-0.012174156
0.006047412
-0.076065022
-0.031683521
0.000168874
-0.035936909
-0.008517587
1.75539E-05
0.037750018
0.034021831
0.000200347
-0.013878875
0.004216503
0.013773191
0.20696403
0.131708976
0.003015777
0.117309785
0.079951636
0.000420577
-0.082176467
-0.035211655
0.018328445
0.108510651
0.074871902
0.002570471
-0.013087971
0.004673092
0.002606781
-0.101572336
-0.046408878
0.002153054
-0.081985437
-0.035101374
5.6432E-08
-0.056974781
-0.020662737
0.004492717
-0.011287088
0.00571274
0.007791325
-0.055125887
-0.019595371
0.003234087
-0.018558234
0.001515112
0.001161306
0.000849094
0.012718951
0.000341012
0.077705635
0.057088185
0.001868216
-0.090776469
-0.040176431
0.003311371
-0.020600512
0.000336106
0.020636715
0.157720679
0.10328082
0.033651159
0.162751709
0.106185231
0.005169401
0.032463932
0.030970177
0.004432493
0.033548051
0.031596039
0.009553052
0.021014359
0.024360346
0.004199031
0.20652529
0.131455692
0.00177596
-0.051894013
-0.017729613
0.005069989
0.072100812
0.053852523
0.008354874
0.051746933
0.042102242
0.001039065
0.027977379
0.028380093
0.001269268
-0.046150936
-0.014414138

0.038241641
0.058587797
0.05901582
0.020649732
0.009762999
-0.042535836
-0.095402534
-0.018223392
0.055151625
-0.050877578
0.066352829
0.023537289
-0.019842077
-0.076973883
0.046169057
0.02554265
-0.034906562
-0.001993891
0.031864581
0.030096676
0.044381501
0.027419323
-0.003728187
0.018095378
-0.075255053
-0.037358149
0.046964812
-0.03363875
0.017761062
0.055163458
0.046884064
0.036312044
0.016999828
0.035530515
0.020073346
0.011869857
-0.020617451
0.050600038
0.020936618
-0.054439859
-0.056566478
-0.001493755
-0.001952013
0.003345987
-0.075069598
0.0341644
-0.018248288
-0.009644691
0.000402714
0.031736798

0.004191034
0.024091968
-0.11154107
-0.003830325
0.07608512
-0.014253618
0.046139694
0.054850655
0.16527549
-0.010368837

1.75648E-05
0.000580423
0.01244141
1.46714E-05
0.005788946
0.000203166
0.002128871
0.003008594
0.027315988
0.000107513

-0.019740711
0.050533418
-0.052400467
0.092176165
-0.024849948
-0.148614545
-0.020916785
-0.028857929
0.025699321
0.017104021

0.000832469
0.04140168
-0.018021988
0.065442013
-0.00211709
-0.073566317
0.000153522
-0.004430895
0.027064971
0.02210291

0.02057318
-0.009131738
0.034378479
-0.026734152
0.022732857
0.075048229
0.021070307
0.024427033
0.00136565
0.004998889

Diff^2
0.001462423
0.00343253
0.003482867
0.000426411
9.53161E-05
0.001809297
0.009101644
0.000332092
0.003041702
0.002588528
0.004402698
0.000554004
0.000393708
0.005924979
0.002131582
0.000652427
0.001218468
3.9756E-06
0.001015351
0.00090581
0.001969718
0.000751819
1.38994E-05
0.000327443
0.005663323
0.001395631
0.002205694
0.001131565
0.000315455
0.003043007
0.002198115
0.001318565
0.000288994
0.001262418
0.000402939
0.000140893
0.000425079
0.002560364
0.000438342
0.002963698
0.003199766
2.2313E-06
3.81035E-06
1.11956E-05
0.005635444
0.001167206
0.000333
9.30201E-05
1.62178E-07
0.001007224

RSS
CTRS
CTRS Est.
e
0.092865586
-0.08628887
-0.086417505
-0.175422669
-0.213727337
MSS dari RSS
-0.00864521
0.024480959
0.001601131
-0.208558176
-0.261054793
-0.383534443
-0.510973449
SE of regression
0.791315224
1.167064695
0.040014132
-0.031905081
-0.008741122
0.034819294
0.086561323
Var (e)
-0.249765686
-0.319911493
0.001523311
-0.039278182
-0.019272125
-0.128449164
-0.146635066
-0.111128026
-0.121895279
0.173754899
0.285003091
-0.167847402
-0.202907582
-0.196822385
-0.244292559
0.351369944
0.538690715
-0.246006374
-0.314542065
0.161048539
0.266854593
-0.013119903
0.018089754
-0.0135352
0.017496585
-0.125045956
-0.141774262
-0.097188224
-0.101985055
-0.059317431
-0.04789419
-0.013878875
0.017005713
-0.013894866
0.016982874
-0.013343482
0.017770416
0.081950517
0.153878864
0.030270535
0.08006433
-0.013087971
0.018135362
0.029456032
0.078900975
-0.091891979
-0.094420428
0.031729611
0.082148328
-0.052953754
-0.038804949
-0.097345566
-0.102209788
-0.057912819
-0.045887982
0.139737983
0.236416719
-0.053684713
-0.039848978
-0.009968388
0.022591063
0.081297589
0.152946287
-0.050612654
-0.035461155
0.730453572
1.080135979
0.116813526
0.20367371
0.770310204
1.137063219
0.30537177
0.472991509
0.18349783
0.298918923
0.193218769
0.312803343
-0.106639346
-0.115484096
0.03038981
0.08023469
0.457780335
0.690676709
0.067019796
0.13255331

Diff^2
-0.000128635
-0.038304669
0.033126169
-0.052496617
-0.127439006
0.375749471
0.023163959
0.051742029
-0.070145806
0.020006057
-0.018185902
-0.010767253
0.111248192
-0.03506018
-0.047470174
0.187320771
-0.068535692
0.105806054
0.031209656
0.031031785
-0.016728307
-0.004796832
0.011423241
0.030884588
0.03087774
0.031113897
0.071928347
0.049793795
0.031223333
0.049444943
-0.002528448
0.050418717
0.014148805
-0.004864221
0.012024837
0.096678736
0.013835735
0.032559451
0.071648698
0.015151499
0.349682407
0.086860184
0.366753015
0.167619739
0.115421093
0.119584574
-0.00884475
0.04984488
0.232896374
0.065533514

1.6547E-08
0.001467248
0.001097343
0.002755895
0.0162407
0.141187665
0.000536569
0.002677238
0.004920434
0.000400242
0.000330727
0.000115934
0.01237616
0.001229216
0.002253417
0.035089071
0.004697141
0.011194921
0.000974043
0.000962972
0.000279836
2.30096E-05
0.00013049
0.000953858
0.000953435
0.000968075
0.005173687
0.002479422
0.000974897
0.002444802
6.39305E-06
0.002542047
0.000200189
2.36607E-05
0.000144597
0.009346778
0.000191428
0.001060118
0.005133536
0.000229568
0.122277786
0.007544692
0.134507774
0.028096377
0.013322029
0.01430047
7.82296E-05
0.002484512
0.054240721
0.004294641

0.000423256
8.33886E-05
0.00118188
0.000714715
0.000516783
0.005632237
0.000443958
0.00059668
1.865E-06
2.49889E-05

-0.119488186
0.173682569
-0.288342496
0.024577097
0.082493627
0.048296652
0.122439858
0.062400812
0.313352194
-0.054183839

-0.133836098
0.284899783
-0.375010762
0.071932391
0.154654588
0.105811037
0.211709802
0.125956015
0.484389951
-0.040561879

-0.014347912
0.111217213
-0.086668266
0.047355293
0.072160961
0.057514386
0.089269944
0.063555202
0.171037757
0.01362196

0.000205863
0.012369269
0.007511388
0.002242524
0.005207204
0.003307905
0.007969123
0.004039264
0.029253914
0.000185558

RSS
0.72720602
MSS dari RSS
0.012538035
SE of regression
0.111973367
Var (e)
0.009511557

ISAT
ISAT Est.
e
-0.090010954
-0.102578597
-0.075422669
-0.084591836
-0.036840699
-0.037021841
-0.157494347
-0.185782868
-0.158534443
-0.187065263
0.063507737
0.086703688
-0.084495826
-0.095778669
-0.191228244
-0.227375387
-0.104056304
-0.119895941
-0.031026057
-0.029852624
0.315123821
0.396936057
-0.011128026
-0.005319163
0.00532949
0.014972283
0.142248752
0.183788148
-0.264018152
-0.317122375
0.025950141
0.040396704
0.171376039
0.219700905
0.038948967
0.056423726
0.021362856
0.034740768
-0.123059009
-0.143325501
-0.163667465
-0.193394071
0.049038191
0.068863328
-0.025697205
-0.023282367
0.051989388
0.072502034
0.171498393
0.219851762
-0.065476183
-0.072328225
-0.008287578
-0.001817007
0.275349488
0.347895927
-0.109613067
-0.126747203
-0.119048241
-0.138380388
-0.141078582
-0.1655429
-0.033726672
-0.033182373
-0.044994953
-0.047075703
-0.132482068
-0.154943748
0.062553911
0.08552766
0.131713292
0.170798355
-0.210206453
-0.250774744
0.050842423
0.071087872
-0.022350355
-0.019155838
0.113634657
0.148508136
0.043047275
0.061476773
-0.019115436
-0.015167314
-0.08481564
-0.096172986
-0.031080326
-0.029919535
0.158665812
0.204029713
0.193218769
0.2466321
0.063536093
0.08673865
0.22286097
0.283179724
0.086827954
0.115456564
0.109702722
0.143660221

-0.012567643
-0.009169167
-0.000181142
-0.028288521
-0.028530821
0.023195951
-0.011282843
-0.036147143
-0.015839637
0.001173433
0.081812236
0.005808862
0.009642792
0.041539396
-0.053104223
0.014446563
0.048324866
0.017474759
0.013377913
-0.020266492
-0.029726606
0.019825137
0.002414838
0.020512645
0.048353369
-0.006852042
0.006470571
0.072546439
-0.017134136
-0.019332146
-0.024464317
0.000544299
-0.00208075
-0.02246168
0.022973748
0.039085063
-0.040568292
0.020245449
0.003194517
0.034873479
0.018429498
0.003948121
-0.011357346
0.00116079
0.045363901
0.053413331
0.023202557
0.060318755
0.02862861
0.033957498

Diff^2
0.000157946
8.40736E-05
3.28124E-08
0.00080024
0.000814008
0.000538052
0.000127303
0.001306616
0.000250894
1.37694E-06
0.006693242
3.37429E-05
9.29834E-05
0.001725521
0.002820059
0.000208703
0.002335293
0.000305367
0.000178969
0.000410731
0.000883671
0.000393036
5.83144E-06
0.000420769
0.002338048
4.69505E-05
4.18683E-05
0.005262986
0.000293579
0.000373732
0.000598503
2.96262E-07
4.32952E-06
0.000504527
0.000527793
0.001527642
0.001645786
0.000409878
1.02049E-05
0.00121616
0.000339646
1.55877E-05
0.000128989
1.34743E-06
0.002057884
0.002852984
0.000538359
0.003638352
0.000819597
0.001153112

RSS
0.058012697
MSS dari RSS
0.001000219
SE of regression
0.031626238
Var (e)
0.000874149

0.046060746
0.143546039
-0.135677303
0.039728612
0.062581314
-0.058082984
0.018774607
0.084039354
0.312884577
-0.039130075

0.06519226
0.18538765
-0.158883343
0.057384997
0.085561446
-0.063212712
0.031549563
0.112018334
0.394175161
-0.039844548

0.019131514
0.041841611
-0.02320604
0.017656385
0.022980132
-0.005129728
0.012774956
0.02797898
0.081290584
-0.000714473

0.000366015
0.00175072
0.00053852
0.000311748
0.000528086
2.63141E-05
0.0001632
0.000782823
0.006608159
5.10472E-07

TLKM
TLKM Est.
e
-0.034523026
-0.029969002
-0.053917292
-0.053245507
-0.00864521
0.001088892
-0.055855474
-0.055571663
-0.207116003
-0.237110694
0.079810799
0.10725154
0.004951288
0.017407062
-0.063519867
-0.064770272
-0.085085336
-0.090652598
-0.105770739
-0.115478691
-0.051206146
-0.049991657
-0.126917499
-0.140858494
0.190950666
0.240638775
0.146818439
0.187672401
-0.216765405
-0.24869166
-0.001513731
0.009647911
0.274561002
0.340985768
0.028457809
0.04561899
-0.052802442
-0.051907492
-0.021799662
-0.014698746
-0.055601511
-0.055266863
-0.031246195
-0.026036233
-0.031562
-0.026415255
-0.004869866
0.005619964
0.262890848
0.326979547
0.000642532
0.012235804
0.124643457
0.161058552
0.035277123
0.053803357
-0.099793173
-0.108304569
-0.056514432
-0.056362527
-0.038382046
-0.0346005
-0.01174865
-0.002635777
-0.113327904
-0.124548608
-0.139176923
-0.155571942
0.146227968
0.186963733
0.14763272
0.18864968
-0.133583076
-0.148858349
0.056698279
0.079512482
0.018166276
0.033267355
0.09916212
0.130476502
0.13156704
0.16936806
-0.072357597
-0.07537709
-0.007467574
0.002502262
0.055728913
0.078349074
0.283344221
0.351527163
0.009885436
0.023328901
-0.006639346
0.00349628
0.09991015
0.131374268
0.149050176
0.190350874
-0.051022731
-0.049771528

0.004554023
0.000671786
0.009734102
0.000283811
-0.029994691
0.02744074
0.012455775
-0.001250405
-0.005567262
-0.009707952
0.001214488
-0.013940995
0.049688108
0.040853962
-0.031926255
0.011161643
0.066424766
0.017161181
0.00089495
0.007100916
0.000334648
0.005209961
0.005146745
0.01048983
0.064088699
0.011593272
0.036415095
0.018526234
-0.008511396
0.000151905
0.003781546
0.009112873
-0.011220704
-0.016395019
0.040735764
0.04101696
-0.015275273
0.022814203
0.015101078
0.031314382
0.03780102
-0.003019493
0.009969835
0.022620161
0.068182943
0.013443465
0.010135625
0.031464118
0.041300698
0.001251203

Diff^2
2.07391E-05
4.51296E-07
9.47527E-05
8.05488E-08
0.000899681
0.000752994
0.000155146
1.56351E-06
3.09944E-05
9.42443E-05
1.47498E-06
0.000194351
0.002468908
0.001669046
0.001019286
0.000124582
0.00441225
0.000294506
8.00936E-07
5.0423E-05
1.11989E-07
2.71437E-05
2.6489E-05
0.000110037
0.004107361
0.000134404
0.001326059
0.000343221
7.24439E-05
2.3075E-08
1.43001E-05
8.30445E-05
0.000125904
0.000268797
0.001659402
0.001682391
0.000233334
0.000520488
0.000228043
0.00098059
0.001428917
9.11734E-06
9.93976E-05
0.000511672
0.004648914
0.000180727
0.000102731
0.000989991
0.001705748
1.56551E-06

RSS
BLTA
0.041861914
0.01336148
-0.119867113
MSS dari RSS
0.06635479
0.000721757
-0.124837246
-0.087481811
SE of regression
0.07702951
0.026865538
0.032422405
0.004516264
Var (e)
-0.025560625
0.000516987
0.100404358
-0.033529378
-0.057639654
-0.011430286
-0.011597402
-0.060417688
-0.037907445
0.092590117
0.082373591
0.13905401
-0.0135352
-0.032802769
0.293837417
-0.057980532
0.093813432
0.124994023
0.05982725
0.123076059
0.266792274
-0.200587971
-0.050672173
-0.211891979
-0.01174865
-0.011287088
-0.060389045
0.042337808
-0.040262017
0.020721383
-0.009968388
-0.019611501
0.102165123
-0.145040499
0.012866157
-0.079632522
0.103982881
-0.05697836
0.256376664
0.285027321
0.283675353
0.11849462
0.038293508

-0.066254507
0.201338247
-0.153662794
0.022051845
0.028042116
-0.051509036
0.124371716
0.012400812
0.208488972
-0.045012428

-0.068052317
0.253105684
-0.172957515
0.037930715
0.045120086
-0.050355179
0.160732416
0.026347792
0.261687803
-0.042558116

-0.00179781
0.051767437
-0.019294721
0.01587887
0.01707797
0.001153857
0.0363607
0.01394698
0.05319883
0.002454312

3.23212E-06
0.002679868
0.000372286
0.000252139
0.000291657
1.33139E-06
0.0013221
0.000194518
0.002830116
6.02365E-06

-0.090958205
-0.052316238
-0.152075264
0.13713121
-0.030741667
-0.031398428
0.204761046
0.081175516
0.194203258
-0.072463409

BLTA Est.
e
0.033798216
-0.062399264
0.072061946
-0.06598794
-0.039015511
0.079769609
0.047561125
0.027411543
0.005694576
0.096647379
-5.92482E-05
-0.017468032
0.015897364
0.015776698
-0.019473907
-0.003220424
0.09100512
0.083628294
0.124554295
0.014377514
0.000465398
0.236315392
-0.017714163
0.091888412
0.114402305
0.067348747
0.113017442
0.216787492
-0.120683622
-0.012437174
-0.128845662
0.015667489
0.01600076
-0.019453225
0.054720525
-0.004920539
0.039112421
0.016952925
0.009990131
0.097918737
-0.080575664
0.033440569
-0.033347945
0.099231246
-0.016990546
0.209266918
0.229954077
0.228977891
0.109709422
0.051800345

Diff^2
0.020436736
0.057467849
0.005707156
0.058849306
0.0484663
0.0027401
0.01513872
0.022895279
0.031255201
-0.003756979
0.03347013
0.040171622
0.02732765
0.0273741
0.040943781
0.034687021
-0.001584998
0.001254703
-0.014499715
0.027912714
0.033268168
-0.057522026
0.040266369
-0.00192502
-0.010591718
0.007521497
-0.010058617
-0.050004782
0.079904349
0.038234999
0.083046317
0.02741614
0.027287847
0.04093582
0.012382717
0.035341478
0.018391039
0.026921313
0.029601632
-0.004246387
0.064464835
0.020574412
0.046284577
-0.004751636
0.039987814
-0.047109746
-0.055073244
-0.054697463
-0.008785198
0.013506837

RSS
c
0.00041766
0.080977485 g
0.003302554
k
3.25716E-05 MSS dari RSS
o
0.003463241
0.001396164 s
0.002348982
w
7.50815E-06 SE of regression aa
0.000229181
0.037365272 ae
0.000524194
ai
0.000976888 Var (e)
am
1.41149E-05
0.001063268 aq
0.00112025
au
0.001613759
ay
0.0007468
bc
0.000749341
bg
0.001676393
bk
0.001203189
bo
2.51222E-06
bs
1.57428E-06
bw
0.000210242
ca
0.00077912
0.001106771
0.003308783
0.001621381
3.7057E-06
0.000112184
5.65729E-05
0.000101176
0.002500478
0.006384705
0.001461915
0.006896691
0.000751645
0.000744627
0.001675741
0.000153332
0.00124902
0.00033823
0.000724757
0.000876257
1.80318E-05
0.004155715
0.000423306
0.002142262
2.2578E-05
0.001599025
0.002219328
0.003033062
0.002991812
7.71797E-05
0.000182435

-0.041525636
-0.013624269
-0.085655104
0.12316594
0.001953613
0.001479401
0.171997949
0.082763226
0.164374716
-0.028171499

0.04943257
0.038691969
0.066420159
-0.01396527
0.032695281
0.032877829
-0.032763097
0.00158771
-0.029828542
0.044291909

0.002443579
0.001497068
0.004411638
0.000195029
0.001068981
0.001080952
0.001073421
2.52082E-06
0.000889742
0.001961773

1st pass regr.

AALI
BUMI
ANTM
TINS
INTP
SMCB
INKP
ASII
GJTL
INDR
INDF
RMBA
GGRM
HMSP
KLBF
UNVR
CTRS
ISAT
TLKM
BLTA

Average Ex. Ret

0.011747715
0.051825096
0.011142159
0.024150805
0.003895028
0.006157463
-0.005333334
0.018579346
-0.000472209
-0.016012971
-0.015402727
0.098856613
-0.008150265
0.007311904
0.011862758
0.012228947
0.036829355
0.008401618
0.011465022
0.024150805

Alpha
Beta
SE of the regression
0.011747
1.248083519
0.14993281
0.051825
1.565757805
0.220572771
0.011142
1.095350631
0.01860123
-0.00271
1.493697322
0.108733738
0.003895
1.166997241
0.029096068
0.006157
1.325990248
0.062981818
-0.00533
1.597839059
0.12384434
0.018579
1.567047032
0.096016634
-0.00047
1.655695369
0.123301622
-0.01601
1.269510531
0.042520475
-0.0154
1.092567434
0.020501999
0.098857
0.0244345
0.917908095
-0.00815
1.187426381
0.02487504
0.007312
1.115728224
0.015515471
0.011862
1.468384872
0.072475563
0.012229
0.577299386
0.040014132
0.036829
1.428300311
0.111973367
0.008401
1.232959215
0.031626238
0.011465
1.200174506
0.026865538
0.024151
0.722048306
0.037365272
AALI
1.248083519
0.244256468
0.310421045
26.10929535
0.586932979

0.01174733
0.019356243
0.14993281
58
1.303831159

BUMI
1.565757805
0.551957879
0.121838291
8.047061063
0.923741354

0.051824613
0.043740216
0.338810253
58
6.657958493

ANTM
1.095350631
0.187988074
0.369225595
33.95046528
0.45207193

0.011141821
0.014897222
0.115393383
58
0.772306703

TINS
1.493697322
0.300142403
0.299236214
24.76683402
0.840671686

-0.002709545
0.023784955
0.184237471
58
1.968719852

INTP
1.166997241

0.003894669

0.234629425
0.298996883
24.73857644
0.513145914

0.018593342
0.144023409
58
1.203079048

SMCB
1.325990248
0.25889804
0.311421503
26.23150048
0.662493889

0.006157055
0.020516522
0.158920298
58
1.464828349

INKP
1.597839059
0.263272668
0.388408083
36.83447768
0.961982746

-0.005333826
0.020863192
0.161605592
58
1.514749299

ASII
1.567047032
0.162844706
0.614876993
92.60123369
0.925263177

0.018578864
0.012904721
0.099959541
58
0.57953077

GJTL
1.655695369
0.215827168
0.503638395
58.85029516
1.032909054

-0.000472718
0.017103346
0.132481952
58
1.017985126

INDR
1.269510531
0.1505083
0.550896585
71.14620119
0.607258821

-0.016013362
0.011927116
0.092387041
58
0.495051191

INDF
1.092567434
0.137348897
0.521756133
63.27703889
0.449777492

-0.015403063
0.010884291
0.084309359
58
0.412267941

RMBA
0.0244345
1.532814682
4.38125E-06
0.000254113

0.098856605
0.12146877
0.940893048
58

0.000224961

51.34622424

GGRM
1.187426381
0.122953324
0.61657465
93.2680368
0.531269157

-0.008150631
0.009743506
0.075472873
58
0.330376967

HMSP
1.115728224
0.112242392
0.630126763
98.81048031
0.469048828

0.007311561
0.008894712
0.068898144
58
0.275323345

KLBF
1.468384872
0.150240279
0.622205951
95.52279937
0.812420772

0.011862306
0.011905876
0.092222521
58
0.493289614

UNVR
0.577299386
0.131418094
0.249648355
19.29709182
0.125575064

0.012228769
0.010414302
0.080668833
58
0.377432712

CTRS
1.428300311
0.323744686
0.251265826
19.46407473
0.768670612

0.036828915
0.025655332
0.198725344
58
2.290522213

ISAT
1.232959215
0.131437365
0.60272708
87.99535238
0.572794234

0.008401238
0.010415829
0.080680662
58
0.377543412

TLKM
1.200174506
0.099988497
0.712977895
144.0750281
0.542737726

0.011464653
0.007923645
0.061376292
58
0.218488856

BLTA

0.722048306
0.167830184
0.241923224
18.50940095
0.196441718

0.024150582
0.013299798
0.103019795
58
0.615558529

SE (beta)
0.244256468
0.551957879
0.187988074
0.300142403
0.234629425
0.25889804
0.263272668
0.162844706
0.215827168
0.1505083
0.137348897
1.532814682
0.122953324
0.112242392
0.150240279
0.131418094
0.323744686
0.131437365
0.099988497
0.167830184

t-statistic
Critical value (5%)
Significant?
5.109725565
2.001717484
TRUE
2.836734225
2.001717484
TRUE
5.826702779
2.001717484
TRUE
4.97662878
2.001717484
TRUE
4.973788942
2.001717484
TRUE
5.121669696
2.001717484
TRUE
6.069141428
2.001717484
TRUE
9.622953481
2.001717484
TRUE
7.671394603
2.001717484
TRUE
8.434820756
2.001717484
TRUE
7.954686599
2.001717484
TRUE
0.015940936
2.001717484
FALSE
9.657537823
2.001717484
TRUE
9.940346086
2.001717484
TRUE
9.773576591
2.001717484
TRUE
4.392845526
2.001717484
TRUE
4.411810822
2.001717484
TRUE
9.380583797
2.001717484
TRUE
12.00312576
2.001717484
TRUE
4.302255333
2.001717484
TRUE

Beta
SE(Beta)
R-squared (not adjusted)
f-stat
ESS

Alpha
SE(Alpha)
SE of the regression
df
RSS

Var (e)
0.022099
0.041132
0.000189
0.011606
0.000811
0.003832
0.015004
0.008201
0.014945
0.001357
0.000125
0.828269
0.000513
0.000169
0.004855
0.001523
0.009512
0.000874
0.000517
0.001063

1st pass regr.

AALI
BUMI
ANTM
TINS
INTP
SMCB
INKP
ASII
GJTL
INDR
INDF
GGRM
HMSP
KLBF
UNVR
CTRS
ISAT
TLKM
BLTA

Beta

2nd pass regr.

Koefisien
se
t-stat
critical value (5%)
Significant?

beta1 *beta(i)
beta2*var (ei)
Average Exc. Ret Alpha
0.010230343 0.021437409
-0.0154476 1.142052998
0.016601521
0.013949398 0.377987951
1.291291904
-1.107402565 3.021400537
2.119905299
2.119905299 2.119905299
FALSE
FALSE
TRUE

1.248083519
1.565757805
1.095350631
1.493697322
1.166997241
1.325990248
1.597839059
1.567047032
1.655695369
1.269510531
1.092567434
1.187426381
1.115728224
1.468384872
0.577299386
1.428300311
1.232959215
1.200174506
0.722048306

Var (e)
Average Ex. Ret
0.022098833
0.011747715
0.041131608
0.051825096
0.000188673
0.011142159
0.01160598
0.024150805
0.000811224
0.003895028
0.003831691
0.006157463
0.015003604
-0.005333334
0.008200932
0.018579346
0.014944985
-0.000472209
0.001357073
-0.016012971
0.000125197
-0.015402727
0.000513025
-0.008150265
0.000168973
0.007311904
0.004855127
0.011862758
0.001523311
0.012228947
0.009511557
0.036829355
0.000874149
0.008401618
0.000516987
0.011465022
0.001063268
0.024150805

These results seems to violate CAPM

1. Alpha >> E(rf monthly)
2. Beta1 < E(rm-rf)
3. Beta2 =/ 0

AALI
BUMI
ANTM
TINS
INTP
SMCB
INKP
ASII
GJTL
INDR
INDF
GGRM
HMSP
KLBF
UNVR

Average Ex. Ret

Beta
Var (e)
Residual (ui)
0.011747715 1.248083519
0.022098833 -0.015647839
0.051825096 1.565757805
0.041131608
0.00760041
0.011142159 1.095350631
0.000188673 0.006409812
0.024150805 1.493697322
0.01160598
0.01253279
0.003895028 1.166997241
0.000811224 -0.000441536
0.006157463 1.325990248
0.003831691 0.000827425
-0.005333334 1.597839059
0.015003604 -0.019222876
0.018579346 1.567047032
0.008200932 0.011983153
-0.000472209 1.655695369
0.014944985 -0.013401063
-0.016012971 1.269510531
0.001357073 -0.019389339
-0.015402727 1.092567434
0.000125197 -0.020105574
-0.008150265 1.187426381
0.000513025 -0.011830689
0.007311904 1.115728224
0.000168973 0.002916842
0.011862758 1.468384872
0.004855127 0.007563558
0.012228947 0.577299386
0.001523311 -0.002030274

CTRS
ISAT
TLKM
BLTA

0.036829355
0.008401618
0.011465022
0.024150805

1.428300311
1.232959215
1.200174506
0.722048306

0.009511557
0.000874149
0.000516987
0.001063268

0.026593054
0.005012144
0.007977002
0.012653

1.142052998
0.377987951
0.373824194
4.77596472
0.001874797

beta2
se(beta2)
r-squared
F-stat
ESS

Notes
E(rf monthly) =
E(rm-rf) =

-0.0154476
0.013949398
0.014009789
16
0.003140387

beta1
se(beta1)
se(regres.)
df
RSS

0.009722397
0.00000031

0.0214374
0.0166015
#N/A
#N/A
#N/A

alpha
se(alpha)

Return
DATE
IHSG
26-Jan-00
-0.0467
23-Feb-00
-0.0916
29-Mar-00
0.0124
26-Apr-00
-0.1143
31-May-00
-0.1331
28-Jun-00
0.1228
26-Jul-00
-0.0263
30-Aug-00
-0.0556
27-Sep-00
-0.1256
26-Oct-00
0.0098
29-Nov-00
0.0269
20-Dec-00
-0.0245
31-Jan-01
0.0259
28-Feb-01
0.0063
28-Mar-01
-0.1240
25-Apr-01
-0.0586
30-May-01
0.1578
27-Jun-01
0.0665
25-Jul-01
0.0264
29-Aug-01
-0.0219
26-Sep-01
-0.0841
31-Oct-01
-0.0431
28-Nov-01
-0.0022
26-Dec-01
-0.0129
30-Jan-02
0.1758
27-Feb-02
0.0227
27-Mar-02
0.0589
24-Apr-02
0.1308
29-May-02
-0.0433
26-Jun-02
-0.0330
31-Jul-02
-0.0791
28-Aug-02
-0.0446
25-Sep-02
-0.0775
30-Oct-02
-0.1163
27-Nov-02
0.0607
27-Dec-02
0.1094
29-Jan-03
-0.0786
26-Feb-03
0.0153
26-Mar-03
0.0088
30-Apr-03
0.1242
28-May-03
0.0931
25-Jun-03
0.0151
30-Jul-03
0.0159
27-Aug-03
0.0445
24-Sep-03
0.1408
29-Oct-03
0.0313
1-Dec-03
0.0086
30-Dec-03
0.0984
28-Jan-04
0.1087
25-Feb-04
0.0130

AALI
-0.07895
-0.05714
0.075758
-0.05634
-0.07463
0.129032
-0.08571
-0.12813
-0.17563
-0.04348
-0.06818
-0.02439
-0.125
-0.05714
-0.21212
-0.23846
0.414141
0.357143
0.842105
-0.24286
-0.09434
-0.14583
-0.07317
-0.02632
0.189189
0.25
0.109091
0.295082
-0.11392
0.085714
-0.03947
-0.10959
-0.23077
-0.08
0.108696
0.215686
0.096774
-0.13235
-0.10169
0.150943
0.032787
-0.09524
-0.03509
0.072727
0.101695
0.061538
-0.04348
0.045455
-0.02899
0.179104

AALI Est.
-0.04946
-0.10602
0.024846
-0.13446
-0.15816
0.163694
-0.02386
-0.06073
-0.14878
0.021597
0.043078
-0.02161
0.041814
0.017188
-0.14676
-0.06451
0.207767
0.092896
0.042407
-0.01825
-0.09654
-0.04497
0.006508
-0.00696
0.230387
0.037763
0.083362
0.173819
-0.04523
-0.03228
-0.09026
-0.04691
-0.08821
-0.13704
0.085602
0.146831
-0.08966
0.028535
0.020324
0.165496
0.126289
0.028283
0.029211
0.065272
0.186372
0.048576
0.02007
0.132943
0.145966
0.025549

e
0.029492
-0.04887
-0.05091
-0.07812
-0.08353
0.034662
0.061849
0.067399
0.02685
0.065075
0.11126
0.00278
0.166814
0.074331
0.06536
0.173953
-0.20637
-0.26425
-0.7997
0.224607
-0.0022
0.100868
0.079678
0.019353
0.041198
-0.21224
-0.02573
-0.12126
0.068694
-0.118
-0.05078
0.062679
0.142557
-0.05704
-0.02309
-0.06885
-0.18644
0.160888
0.122019
0.014553
0.093502
0.123521
0.064299
-0.00746
0.084677
-0.01296
0.063548
0.087489
0.174951
-0.15356

Diff^2
0.00087
0.002388
0.002592
0.006103
0.006978
0.001201
0.003825
0.004543
0.000721
0.004235
0.012379
7.73E-06
0.027827
0.005525
0.004272
0.030259
0.042591
0.069826
0.639518
0.050448
4.84E-06
0.010174
0.006349
0.000375
0.001697
0.045045
0.000662
0.014705
0.004719
0.013924
0.002579
0.003929
0.020322
0.003254
0.000533
0.004741
0.034758
0.025885
0.014889
0.000212
0.008743
0.015257
0.004134
5.56E-05
0.00717
0.000168
0.004038
0.007654
0.030608
0.023579

RSS
BUMI
1.302282634 -0.16667
0.4
MSS dari RSS
-0.35714
0.022453149 -0.22222
-0.14286
SE of regression
0.5
0.149843748
-0.2
-0.13889
Var (e)
-0.06452
0.022072587 0.034483
-0.1
0.111111
-0.06667
-0.35714
-0.27778
-0.23077
0
1.2
-0.27273
-0.1875
0.153846
-0.13333
-0.15385
0
-0.27273
-0.125
0.142857
0
0
0
-0.125
-0.14286
-0.16667
-0.4
0.333333
0
0
0
0
0.25
0.2
0.166667
1.142857
1
0.233333
0.135135
0
1.380952
-0.05
0.263158

BUMI Est.
-0.20925
0.660708
-0.50167
-0.29454
-0.1727
0.81423
-0.26042
-0.1666
-0.05243
0.09956
-0.1069
0.217201
-0.05573
-0.50167
-0.37983
-0.30766
0.046621
1.888882
-0.37207
-0.24123
0.282808
-0.15807
-0.18957
0.046621
-0.37207
-0.14528
0.265938
0.046621
0.046621
0.046621
-0.14528
-0.1727
-0.20925
-0.56747
0.55836
0.046621
0.046621
0.046621
0.046621
0.430425
0.353665
0.302491
1.801156
1.581839
0.404838
0.254083
0.046621
2.166684
-0.03014
0.450626

31-Mar-04
28-Apr-04
26-May-04
30-Jun-04
28-Jul-04
25-Aug-04
29-Sep-04
27-Oct-04
24-Nov-04
29-Dec-04

-0.0532
0.1118
-0.1222
0.0200
0.0380
-0.0375
0.1109
0.0446
0.1321
0.0448

-0.01266
0.269231
-0.0101
-0.08163
0
0.011111
0.131868
0.126214
0.051724
0.008197

-0.05773
0.149872
-0.14442
0.034459
0.056981
-0.03789
0.148777
0.065394
0.175338
0.065639

-0.04507
-0.11936
-0.13432
0.116092
0.056981
-0.049
0.016909
-0.06082
0.123614
0.057442

0.002032
0.014247
0.018042
0.013477
0.003247
0.002401
0.000286
0.003699
0.01528
0.0033

-0.04167
-0.04348
-0.23636
0.369048
0.043478
0
0.208333
0.034483
0.033333
0.032258

-0.01735
-0.02013
-0.31625
0.613189
0.11337
0.046621
0.366458
0.09956
0.097795
0.096144

e
-0.04258
0.260708
-0.14453
-0.07232
-0.02984
0.31423
-0.06042
-0.02771
0.012091
0.065077
-0.0069
0.10609
0.01094
-0.14453
-0.10205
-0.07689
0.046621
0.688882
-0.09935
-0.05373
0.128962
-0.02474
-0.03572
0.046621
-0.09935
-0.02028
0.123081
0.046621
0.046621
0.046621
-0.02028
-0.02984
-0.04258
-0.16747
0.225027
0.046621
0.046621
0.046621
0.046621
0.180425
0.153665
0.135824
0.658298
0.581839
0.171505
0.118948
0.046621
0.785731
0.01986
0.187468

Diff^2
0.001813
0.067969
0.020888
0.00523
0.00089
0.09874
0.003651
0.000768
0.000146
0.004235
4.76E-05
0.011255
0.00012
0.020888
0.010414
0.005912
0.002174
0.474559
0.00987
0.002887
0.016631
0.000612
0.001276
0.002174
0.00987
0.000411
0.015149
0.002174
0.002174
0.002174
0.000411
0.00089
0.001813
0.028045
0.050637
0.002174
0.002174
0.002174
0.002174
0.032553
0.023613
0.018448
0.433357
0.338536
0.029414
0.014149
0.002174
0.617374
0.000394
0.035144

RSS
ANTM
2.542405006 -0.01818
-0.11111
MSS dari RSS
-0.04167
0.043834569
-0.1087
0.02439
SE of regression 0.047619
0.209367068 0.063636
-0.0812
Var (e)
-0.08837
0.036654154 0.071429
-0.04762
-0.075
-0.02703
0
-0.11111
0
0.15625
0.054054
0.102564
-0.04651
-0.07317
-0.05263
-0.16667
0.033333
0.258065
0.051282
0.02439
0.261905
-0.11321
0
-0.24149
-0.08696
-0.17143
-0.04598
0.048193
0.37931
0.25
0.1
-0.09091
-0.03333
0.172414
-0.05882
0.0625
0.029412
0.257143
0.068182
0.085106
0.509804
-0.16883
0.015625

ANTM Est. e
-0.00969 0.008492
-0.11144 -0.00033
-0.0354 0.006262
-0.1088
-0.0001
0.036925 0.012535
0.06236 0.014741
0.079898 0.016262
-0.07869 0.002508
-0.08655 0.001826
0.08843 0.017002
-0.04192 0.005696
-0.0719 0.003096
-0.01938 0.007652
0.010219 0.010219
-0.11144 -0.00033
0.010219 0.010219
0.181307 0.025057
0.069406 0.015352
0.122523 0.019958
-0.04071 0.005802
-0.0699 0.00327
-0.04741 0.00522
-0.17228 -0.00561
0.046717 0.013384
0.29279 0.034725
0.066371 0.015089
0.036925 0.012535
0.296995 0.03509
-0.11374 -0.00053
0.010219 0.010219
-0.2542 -0.01271
-0.085 0.001961
-0.17749 -0.00606
-0.04012 0.005852
0.062988 0.014795
0.42555 0.046239
0.28396 0.03396
0.119715 0.019715
-0.08932 0.001585
-0.02628 0.007053
0.199005 0.026592
-0.05419 0.004632
0.078654 0.016154
0.042423 0.013012
0.291781 0.034638
0.084875 0.016693
0.103407 0.018301
0.568436 0.058632
-0.17465 -0.00581
0.027327 0.011702

Diff^2
7.21E-05
1.11E-07
3.92E-05
1.07E-08
0.000157
0.000217
0.000264
6.29E-06
3.34E-06
0.000289
3.24E-05
9.59E-06
5.86E-05
0.000104
1.11E-07
0.000104
0.000628
0.000236
0.000398
3.37E-05
1.07E-05
2.73E-05
3.15E-05
0.000179
0.001206
0.000228
0.000157
0.001231
2.83E-07
0.000104
0.000162
3.84E-06
3.67E-05
3.43E-05
0.000219
0.002138
0.001153
0.000389
2.51E-06
4.97E-05
0.000707
2.15E-05
0.000261
0.000169
0.0012
0.000279
0.000335
0.003438
3.38E-05
0.000137

RSS
0.01992142
MSS dari RSS
0.000343473
SE of regression
0.018533018
Var (e)
0.00018629

0.02432
0.023351
-0.07988
0.244142
0.069891
0.046621
0.158125
0.065077
0.064462
0.063886

0.000591
0.000545
0.006382
0.059605
0.004885
0.002174
0.025003
0.004235
0.004155
0.004081

-0.24615
0.061224
-0.21154
0.219512
-0.04
-0.02083
0.106383
0.153846
0.133333
0.029412

-0.25931
0.077257
-0.22141
0.250577
-0.03358
-0.01259
0.126704
0.178675
0.156214
0.042423

-0.01316
0.016033
-0.00987
0.031064
0.00642
0.00824
0.020321
0.024828
0.02288
0.013012

0.000173
0.000257
9.74E-05
0.000965
4.12E-05
6.79E-05
0.000413
0.000616
0.000524
0.000169

TINS
-0.16327
-0.15854
-0.0942
-0.008
-0.22581
0.083333
-0.00385
-0.14865
-0.2585
-0.06728
-0.03279
-0.05085
0.142857
0.109375
-0.15493
-0.08333
0.236364
-0.08824
0.096774
-0.13235
-0.20339
-0.14894
-0.535
-0.13978
0.8125
0.103448
-0.1875
0.076923
-0.17857
0.043478
-0.21667
-0.09574
-0.17647
-0.1
-0.04762
0.15
0.333333
0.576087
-0.13793
0.12
0.035714
-0.03448
0.142857
0.1875
0.210526
0.434783
0
0.545455
-0.08824
0.021505

TINS Est.
-0.25065
-0.24361
-0.14779
-0.01938
-0.34381
0.116657
-0.0132
-0.22888
-0.39251
-0.10768
-0.05631
-0.08321
0.205319
0.155447
-0.23824
-0.13159
0.344598
-0.1389
0.136678
-0.20461
-0.31042
-0.22931
-0.80436
-0.21568
1.20276
0.146619
-0.28675
0.107109
-0.27345
0.057293
-0.3302
-0.15008
-0.27032
-0.15642
-0.0784
0.215958
0.489035
0.85062
-0.21292
0.171273
0.045728
-0.05883
0.205319
0.271815
0.306113
0.640145
-0.00747
0.804993
-0.1389
0.024564

e
-0.08739
-0.08507
-0.05358
-0.01138
-0.118
0.033324
-0.00935
-0.08023
-0.13401
-0.0404
-0.02352
-0.03236
0.062462
0.046072
-0.08331
-0.04826
0.108234
-0.05066
0.039903
-0.07226
-0.10703
-0.08037
-0.26936
-0.0759
0.39026
0.04317
-0.09925
0.030186
-0.09488
0.013814
-0.11353
-0.05434
-0.09385
-0.05642
-0.03078
0.065958
0.155702
0.274533
-0.07499
0.051273
0.010014
-0.02435
0.062462
0.084315
0.095587
0.205363
-0.00747
0.259538
-0.05066
0.003058

Diff^2
0.007637
0.007238
0.002871
0.00013
0.013925
0.00111
8.75E-05
0.006438
0.017959
0.001632
0.000553
0.001047
0.003901
0.002123
0.00694
0.002329
0.011715
0.002567
0.001592
0.005221
0.011456
0.00646
0.072554
0.00576
0.152303
0.001864
0.009851
0.000911
0.009003
0.000191
0.012889
0.002953
0.008808
0.003183
0.000947
0.00435
0.024243
0.075368
0.005623
0.002629
0.0001
0.000593
0.003901
0.007109
0.009137
0.042174
5.58E-05
0.06736
0.002567
9.35E-06

RSS
INTP
0.671296088 -0.02419
-0.07438
MSS dari RSS
0.044643
0.01157407 0.059829
0.064516
SE of regression -0.00758
0.107582854
-0.1145
-0.09483
Var (e)
-0.4381
0.011361337 0.118644
-0.07576
0.04918
-0.0625
-0.21667
0
-0.08511
0.162791
0.08
0
-0.05556
-0.21569
-0.075
-0.21622
-0.03448
0.178571
0.030303
0
0.088235
-0.13514
0.46875
-0.14894
-0.025
-0.10256
-0.28571
0.12
-0.03571
-0.03704
0.346154
0
0.171429
0.02439
0.190476
0.36
-0.02941
0.060606
0.085714
0
0.118421
0.152941
0.030612

INTP Est.
-0.02568
-0.08383
0.054079
0.071676
0.077107
-0.00643
-0.13032
-0.10753
-0.50527
0.139825
-0.08543
0.059337
-0.07007
-0.2487
0.002352
-0.09626
0.190977
0.095048
0.002352
-0.06202
-0.24756
-0.08455
-0.24818
-0.0376
0.209263
0.037464
0.002352
0.10459
-0.15423
0.545493
-0.17022
-0.02662
-0.11649
-0.32871
0.141396
-0.03903
-0.04056
0.40344
0.002352
0.200986
0.030613
0.223057
0.419484
-0.03173
0.072576
0.101669
0.002352
0.139566
0.179565
0.037822

e
-0.00149
-0.00945
0.009437
0.011847
0.01259
0.001149
-0.01582
-0.0127
-0.06717
0.021181
-0.00967
0.010157
-0.00757
-0.03203
0.002352
-0.01115
0.028187
0.015048
0.002352
-0.00646
-0.03188
-0.00955
-0.03196
-0.00312
0.030691
0.007161
0.002352
0.016355
-0.01909
0.076743
-0.02128
-0.00162
-0.01393
-0.04299
0.021396
-0.00332
-0.00353
0.057287
0.002352
0.029558
0.006222
0.03258
0.059484
-0.00232
0.01197
0.015955
0.002352
0.021145
0.026624
0.00721

Diff^2
2.21E-06
8.93E-05
8.9E-05
0.00014
0.000159
1.32E-06
0.00025
0.000161
0.004512
0.000449
9.35E-05
0.000103
5.73E-05
0.001026
5.53E-06
0.000124
0.000794
0.000226
5.53E-06
4.18E-05
0.001016
9.12E-05
0.001022
9.74E-06
0.000942
5.13E-05
5.53E-06
0.000267
0.000365
0.005889
0.000453
2.61E-06
0.000194
0.001848
0.000458
1.1E-05
1.24E-05
0.003282
5.53E-06
0.000874
3.87E-05
0.001061
0.003538
5.36E-06
0.000143
0.000255
5.53E-06
0.000447
0.000709
5.2E-05

-0.01053
0.053191
-0.26263
-0.06849
0.176471
-0.05
0.052632
0.05
0.035714
-0.05747

-0.02315
0.071761
-0.39865
-0.10949
0.255386
-0.08194
0.070927
0.067007
0.045728
-0.09307

-0.01262
0.018569
-0.13603
-0.041
0.078916
-0.03194
0.018295
0.017007
0.010014
-0.0356

0.000159
0.000345
0.018504
0.001681
0.006228
0.00102
0.000335
0.000289
0.0001
0.001267

-0.24752
0.039474
-0.29114
0.017857
0.22807
-0.15714
0.322034
-0.02564
0.381579
0.133333

-0.28446
0.04809
-0.33499
0.023043
0.266617
-0.17973
0.375493
-0.02736
0.444488
0.156845

-0.03693
0.008616
-0.04385
0.005186
0.038547
-0.02259
0.053459
-0.00172
0.062909
0.023512

0.001364
7.42E-05
0.001923
2.69E-05
0.001486
0.00051
0.002858
2.95E-06
0.003957
0.000553

RSS
SMCB
0.044140917 -0.04762
0
MSS dari RSS
0
0.00076105
-0.25
-0.26667
SE of regression 0.909091
0.02758714 -0.12381
-0.11957
Var (e)
-0.06173
0.00072744 0.184211
-0.05556
0.047059
0.134831
-0.0396
-0.16495
-0.12346
0.084507
0
0
0
0
0
0
0
-0.22078
-0.1
0.185185
0.0625
-0.14706
0.034483
-0.16667
-0.06
-0.19149
-0.28947
0.111111
-0.03333
-0.03448
0.142857
-0.03125
0.483871
0.065217
0.081633
0.301887
0.275362
-0.01136
-0.1954
0.014286
0.140845
0
0.049383

SMCB Est. e
-0.0598 -0.01219
0.003047 0.003047
0.003047 0.003047
-0.32692 -0.07692
-0.34892 -0.08225
1.20294 0.293849
-0.16037 -0.03656
-0.15476
-0.0352
-0.07843
-0.0167
0.246183 0.061973
-0.07028 -0.01472
0.065159
0.0181
0.181009 0.046177
-0.04923 -0.00962
-0.21467 -0.04972
-0.1599 -0.03644
0.114586 0.030079
0.003047 0.003047
0.003047 0.003047
0.003047 0.003047
0.003047 0.003047
0.003047 0.003047
0.003047 0.003047
0.003047 0.003047
-0.28836 -0.06758
-0.12894 -0.02894
0.24747 0.062284
0.08554 0.02304
-0.19105 -0.04399
0.04856 0.014077
-0.21693 -0.05027
-0.07615 -0.01615
-0.2497 -0.05821
-0.37902 -0.08955
0.149701 0.038589
-0.04095 -0.00762
-0.04247 -0.00798
0.191602 0.048744
-0.0382 -0.00695
0.6417 0.157829
0.089126 0.023909
0.110793 0.02916
0.401502 0.099615
0.366493 0.09113
-0.01195 -0.00059
-0.25486 -0.05946
0.021902 0.007617
0.188946 0.048101
0.003047 0.003047
0.068226 0.018844

Diff^2
0.000148
9.28E-06
9.28E-06
0.005917
0.006766
0.086347
0.001336
0.001239
0.000279
0.003841
0.000217
0.000328
0.002132
9.26E-05
0.002472
0.001328
0.000905
9.28E-06
9.28E-06
9.28E-06
9.28E-06
9.28E-06
9.28E-06
9.28E-06
0.004567
0.000838
0.003879
0.000531
0.001936
0.000198
0.002527
0.000261
0.003388
0.008019
0.001489
5.8E-05
6.37E-05
0.002376
4.83E-05
0.02491
0.000572
0.00085
0.009923
0.008305
3.46E-07
0.003535
5.8E-05
0.002314
9.28E-06
0.000355

RSS
INKP
0.220418647 -0.05556
-0.06863
MSS dari RSS
0.084211
0.003800321
-0.1068
-0.3913
SE of regression
0.25
0.061646748 -0.06571
-0.14679
Var (e)
-0.19713
0.003668746 -0.08482
-0.17073
0.029412
-0.11429
-0.4129
-0.36264
-0.17241
0.5
0.027778
-0.14865
0
0
0
0
0
0
0
-0.19048
0.098039
-0.23214
0.069767
-0.32609
0
0
-0.19355
0.08
0.074074
0
0.137931
0.333333
0.727273
0.131579
0
-0.11628
0.184211
0.022222
0.413043
-0.20769
0.116505
0.173913
0.185185

INKP Est.
-0.0994
-0.12018
0.12282
-0.18087
-0.63322
0.386414
-0.11555
-0.24445
-0.3245
-0.14593
-0.28252
0.035693
-0.19278
-0.66756
-0.58764
-0.2852
0.783898
0.033095
-0.24741
-0.01107
-0.01107
-0.01107
-0.01107
-0.01107
-0.01107
-0.01107
-0.31391
0.144807
-0.38016
0.099856
-0.52953
-0.01107
-0.01107
-0.3188
0.116125
0.106704
-0.01107
0.208232
0.518909
1.145247
0.198133
-0.01107
-0.19595
0.281813
0.024262
0.645643
-0.34129
0.174166
0.265441
0.283363

-0.11765
0.053333
-0.25316
-0.05085
0.107143
-0.08065
0.280702
0.123288
0.170732
0.145833

-0.15223
0.073441
-0.3311
-0.06407
0.144463
-0.1034
0.37354
0.165772
0.228393
0.19553

-0.03459
0.020107
-0.07794
-0.01322
0.03732
-0.02275
0.092838
0.042485
0.057661
0.049696

0.001196
0.000404
0.006074
0.000175
0.001393
0.000518
0.008619
0.001805
0.003325
0.00247

-0.0625
0.1
-0.30303
0.043478
0.208333
-0.03448
0.214286
0
0.088235
0.135135

-0.11044
0.147924
-0.49287
0.058058
0.320167
-0.06589
0.329631
-0.01107
0.129219
0.203787

e
-0.04384
-0.05156
0.038609
-0.07407
-0.24191
0.136414
-0.04984
-0.09767
-0.12736
-0.06111
-0.11179
0.006282
-0.07849
-0.25466
-0.225
-0.11278
0.283898
0.005318
-0.09876
-0.01107
-0.01107
-0.01107
-0.01107
-0.01107
-0.01107
-0.01107
-0.12344
0.046767
-0.14802
0.030089
-0.20344
-0.01107
-0.01107
-0.12525
0.036125
0.032629
-0.01107
0.070301
0.185576
0.417974
0.066554
-0.01107
-0.07967
0.097603
0.00204
0.232599
-0.13359
0.057661
0.091528
0.098178

Diff^2
0.001922
0.002658
0.001491
0.005487
0.058522
0.018609
0.002484
0.009539
0.016222
0.003734
0.012497
3.95E-05
0.006161
0.064849
0.050626
0.01272
0.080598
2.83E-05
0.009754
0.000123
0.000123
0.000123
0.000123
0.000123
0.000123
0.000123
0.015237
0.002187
0.02191
0.000905
0.041388
0.000123
0.000123
0.015688
0.001305
0.001065
0.000123
0.004942
0.034438
0.174702
0.004429
0.000123
0.006347
0.009526
4.16E-06
0.054102
0.017847
0.003325
0.008377
0.009639

RSS
ASII
0.860811299 -0.06711
0.071942
MSS dari RSS
-0.01342
0.014841574 -0.11565
-0.23077
SE of regression
0.09
0.121825999 -0.06789
0.045276
Var (e)
-0.13748
0.01451689 -0.01747
0.011111
-0.10989
0.049383
-0.03529
-0.31707
-0.08929
0.352941
0.057971
0.369863
-0.07
-0.11828
-0.13415
0.140845
-0.06173
0.328947
0.138614
-0.09565
0.5
0.096154
-0.0117
-0.11834
-0.14765
-0.17323
-0.20952
0.180723
0.285714
-0.33333
0.071429
0.1
0.222222
0.198347
-0.03448
0.092857
-0.00654
0.151316
0
0.034286
0.104972
0.07
0.009346

ASII Est.
-0.09289
0.126442
-0.00821
-0.16945
-0.35103
0.154925
-0.09412
0.08438
-0.20388
-0.01459
0.030492
-0.16037
0.090858
-0.0427
-0.48716
-0.12787
0.569668
0.104405
0.596359
-0.09745
-0.1736
-0.19863
0.235124
-0.0844
0.531822
0.231605
-0.13791
0.801627
0.164631
-0.00548
-0.1737
-0.21993
-0.26027
-0.31752
0.298024
0.463629
-0.51281
0.125632
0.170698
0.363482
0.325823
-0.04142
0.159432
0.002657
0.25164
0.012966
0.067046
0.178541
0.123378
0.027707

e
-0.02578
0.0545
0.005217
-0.0538
-0.12026
0.064925
-0.02623
0.039105
-0.0664
0.002882
0.019381
-0.05048
0.041476
-0.00741
-0.17009
-0.03858
0.216727
0.046434
0.226496
-0.02745
-0.05532
-0.06448
0.094279
-0.02267
0.202874
0.092991
-0.04226
0.301627
0.068478
0.006214
-0.05536
-0.07228
-0.08704
-0.108
0.117301
0.177915
-0.17947
0.054203
0.070698
0.14126
0.127476
-0.00694
0.066574
0.009193
0.100324
0.012966
0.03276
0.073569
0.053378
0.018361

Diff^2
0.000665
0.00297
2.72E-05
0.002894
0.014463
0.004215
0.000688
0.001529
0.004409
8.3E-06
0.000376
0.002548
0.00172
5.49E-05
0.02893
0.001488
0.04697
0.002156
0.0513
0.000753
0.00306
0.004158
0.008889
0.000514
0.041158
0.008647
0.001786
0.090979
0.004689
3.86E-05
0.003064
0.005224
0.007576
0.011663
0.01376
0.031654
0.032211
0.002938
0.004998
0.019954
0.01625
4.82E-05
0.004432
8.45E-05
0.010065
0.000168
0.001073
0.005412
0.002849
0.000337

RSS
0.552447069
MSS dari RSS
0.009524949
SE of regression
0.097595848
Var (e)
0.008490163

-0.04794
0.047924
-0.18984
0.01458
0.111834
-0.03141
0.115345
-0.01107
0.040984
0.068652

0.002298
0.002297
0.036038
0.000213
0.012507
0.000987
0.013305
0.000123
0.00168
0.004713

-0.00926
0.140187
-0.07377
-0.02655
0.027273
0.026549
0.163793
0.140741
0.142857
0.107955

-0.00164
0.234086
-0.10339
-0.02891
0.055984
0.054842
0.27132
0.234959
0.238298
0.183245

0.00762
0.093899
-0.02962
-0.00236
0.028711
0.028293
0.107527
0.094219
0.09544
0.07529

5.81E-05
0.008817
0.000878
5.58E-06
0.000824
0.0008
0.011562
0.008877
0.009109
0.005669

GJTL
-0.02564
-0.10526
0.058824
-0.25
-0.33333
0.277778
-0.13043
-0.06
-0.25532
-0.01429
0.101449
-0.06579
0.014085
-0.04167
-0.21739
-0.22222
0.166667
0.061224
0.076923
-0.01786
-0.21818
-0.13953
-0.2973
0.038462
0.185185
0.03125
0.060606
0.885714
-0.30303
0.173913
-0.05556
-0.11765
0.022222
-0.08696
0.047619
0.045455
-0.06522
-0.02326
0.047619
0.363636
0.066667
0.171875
0.186667
0.179775
0.238095
-0.15385
-0.07273
0.078431
0.090909
0

GJTL Est.
-0.04959
-0.18205
0.09094
-0.42286
-0.5615
0.455219
-0.22393
-0.10675
-0.43171
-0.03069
0.161858
-0.11638
0.016507
-0.07625
-0.3686
-0.37664
0.270361
0.094935
0.121053
-0.03664
-0.36992
-0.23907
-0.50155
0.057064
0.301171
0.045066
0.093906
1.466657
-0.51108
0.282417
-0.09935
-0.20266
0.030046
-0.1516
0.072299
0.068698
-0.11543
-0.04562
0.072299
0.598064
0.103989
0.279027
0.303636
0.29217
0.389199
-0.26288
-0.12792
0.123562
0.144322
-0.00693

e
-0.02394
-0.07679
0.032117
-0.17286
-0.22817
0.177442
-0.0935
-0.04675
-0.17639
-0.01641
0.060408
-0.05059
0.002423
-0.03458
-0.15121
-0.15442
0.103695
0.03371
0.04413
-0.01878
-0.15174
-0.09954
-0.20425
0.018602
0.115986
0.013816
0.0333
0.580943
-0.20805
0.108504
-0.0438
-0.08501
0.007824
-0.06464
0.02468
0.023244
-0.05021
-0.02236
0.02468
0.234428
0.037322
0.107152
0.116969
0.112395
0.151103
-0.10904
-0.0552
0.045131
0.053413
-0.00693

Diff^2
0.000573
0.005897
0.001031
0.029879
0.05206
0.031486
0.008742
0.002185
0.031112
0.000269
0.003649
0.00256
5.87E-06
0.001196
0.022865
0.023845
0.010753
0.001136
0.001947
0.000353
0.023024
0.009908
0.041718
0.000346
0.013453
0.000191
0.001109
0.337495
0.043286
0.011773
0.001918
0.007227
6.12E-05
0.004178
0.000609
0.00054
0.002521
0.0005
0.000609
0.054956
0.001393
0.011481
0.013682
0.012633
0.022832
0.011889
0.003047
0.002037
0.002853
4.8E-05

RSS
0.90159442
MSS dari RSS
0.015544731
SE of regression
0.124678512
Var (e)
0.015280633

INDR
-0.07692
-0.16667
-0.18
-0.09756
-0.13514
0.03125
0.012121
-0.00599
-0.10843
0.148649
-0.08824
-0.03226
-0.03333
-0.17241
-0.16667
-0.17
0.445783
0.125
0.037037
-0.10714
-0.2
-0.04
-0.07292
-0.05618
0.190476
0.1
0.318182
0.206897
-0.11429
-0.29032
-0.09091
0
-0.05
-0.12632
-0.01205
0.097561
-0.08889
-0.02439
-0.0375
0.181818
0.065934
-0.16495
-0.02469
0.050633
0.156627
0
0.0625
0.029412
0.190476
-0.08

INDR Est.
-0.1168
-0.23127
-0.24827
-0.14313
-0.19105
0.021167
-0.00323
-0.02633
-0.15699
0.170903
-0.13123
-0.05984
-0.06121
-0.2386
-0.23127
-0.23552
0.549885
0.14074
0.028548
-0.15535
-0.27378
-0.06971
-0.11169
-0.09035
0.224252
0.108854
0.387135
0.245196
-0.16446
-0.38898
-0.13464
-0.01869
-0.08246
-0.1798
-0.03406
0.105743
-0.13207
-0.0498
-0.06652
0.213209
0.065404
-0.22908
-0.05018
0.045889
0.181079
-0.01869
0.061024
0.018822
0.224252
-0.12073

e
-0.03988
-0.0646
-0.06827
-0.04557
-0.05592
-0.01008
-0.01535
-0.02034
-0.04856
0.022255
-0.043
-0.02758
-0.02787
-0.06618
-0.0646
-0.06552
0.104102
0.01574
-0.00849
-0.0482
-0.07378
-0.02971
-0.03878
-0.03417
0.033776
0.008854
0.068953
0.038299
-0.05017
-0.09866
-0.04373
-0.01869
-0.03246
-0.05349
-0.02201
0.008182
-0.04318
-0.02541
-0.02902
0.031391
-0.00053
-0.06413
-0.02549
-0.00474
0.024452
-0.01869
-0.00148
-0.01059
0.033776
-0.04073

Diff^2
0.00159
0.004173
0.004661
0.002076
0.003126
0.000102
0.000236
0.000414
0.002358
0.000495
0.001849
0.00076
0.000777
0.00438
0.004173
0.004293
0.010837
0.000248
7.21E-05
0.002324
0.005444
0.000883
0.001504
0.001167
0.001141
7.84E-05
0.004755
0.001467
0.002517
0.009734
0.001913
0.000349
0.001054
0.002861
0.000484
6.69E-05
0.001864
0.000646
0.000842
0.000985
2.8E-07
0.004112
0.00065
2.25E-05
0.000598
0.000349
2.18E-06
0.000112
0.001141
0.001659

-0.04167
0.086957
-0.16
-0.06667
0.071429
-0.04762
0.05
0.047619
0.136364
0.08

-0.07625
0.137746
-0.27312
-0.11784
0.111912
-0.08615
0.07626
0.072299
0.219946
0.126172

-0.03458
0.050789
-0.11312
-0.05117
0.040483
-0.03853
0.02626
0.02468
0.083582
0.046172

0.001196
0.00258
0.012796
0.002619
0.001639
0.001485
0.00069
0.000609
0.006986
0.002132

-0.2
-0.02174
-0.12222
0
0.063291
0.02381
0.162791
0.15
0.130435
0

-0.27378 -0.07378 0.005444

-0.04642 -0.02468 0.000609
-0.17458 -0.05236 0.002741
-0.01869 -0.01869 0.000349
0.062034 -0.00126 1.58E-06
0.011677 -0.01213 0.000147
0.188941 0.02615 0.000684
0.172627 0.022627 0.000512
0.147672 0.017237 0.000297
-0.01869 -0.01869 0.000349

RSS
INDF
0.108481032 -0.17101
-0.21678
MSS dari RSS
0.053571
0.001870363 -0.08475
-0.2037
SE of regression 0.127907
0.043247689 -0.07216
-0.2
Var (e)
0.058333
0.001414443 0.049869
0.03125
-0.06061
0.16129
0.027778
-0.08108
-0.11765
0.066667
0.0625
0.029412
-0.08571
-0.09375
-0.06897
-0.07407
-0.04
0.291667
-0.03226
0.066667
0.375
-0.04545
0.047619
0.022727
-0.17778
-0.21622
-0.13793
-0.08
0.043478
-0.08333
0
0.136364
0.16
0.206897
-0.02857
-0.08824
-0.12903
0.111111
-0.03333
-0.03448
0.142857
0.0625
0.029412

INDF Est.
-0.20459
-0.25496
0.042577
-0.10965
-0.24057
0.124387
-0.0958
-0.23649
0.047818
0.038502
0.018012
-0.08308
0.161127
0.01419
-0.10561
-0.14586
0.056989
0.052404
0.015988
-0.11071
-0.11956
-0.09228
-0.0979
-0.0604
0.304613
-0.05188
0.056989
0.396326
-0.06641
0.036027
0.008632
-0.21203
-0.25434
-0.16818
-0.10442
0.031469
-0.10809
-0.01638
0.133694
0.159707
0.211319
-0.04782
-0.11349
-0.15839
0.105903
-0.05307
-0.05433
0.140841
0.052404
0.015988

e
-0.03358
-0.03818
-0.01099
-0.0249
-0.03686
-0.00352
-0.02364
-0.03649
-0.01052
-0.01137
-0.01324
-0.02247
-0.00016
-0.01359
-0.02453
-0.02821
-0.00968
-0.0101
-0.01342
-0.025
-0.02581
-0.02332
-0.02383
-0.0204
0.012947
-0.01962
-0.00968
0.021326
-0.02095
-0.01159
-0.0141
-0.03426
-0.03812
-0.03025
-0.02442
-0.01201
-0.02476
-0.01638
-0.00267
-0.00029
0.004423
-0.01925
-0.02525
-0.02935
-0.00521
-0.01973
-0.01985
-0.00202
-0.0101
-0.01342

Diff^2
0.001127
0.001458
0.000121
0.00062
0.001359
1.24E-05
0.000559
0.001332
0.000111
0.000129
0.000175
0.000505
2.65E-08
0.000185
0.000602
0.000796
9.36E-05
0.000102
0.00018
0.000625
0.000666
0.000544
0.000568
0.000416
0.000168
0.000385
9.36E-05
0.000455
0.000439
0.000134
0.000199
0.001173
0.001453
0.000915
0.000597
0.000144
0.000613
0.000268
7.12E-06
8.56E-08
1.96E-05
0.000371
0.000638
0.000862
2.71E-05
0.000389
0.000394
4.07E-06
0.000102
0.00018

RSS
RMBA
0.025964029
7.125
-0.44038
MSS dari RSS
0.206186
0.000447656 -0.17379
-0.2069
SE of regression 0.043478
0.021157875 -0.09167
-0.08257
Var (e)
-0.3
0.000147834 0.014286
0.239437
0.136364
-0.01
-0.0303
-0.125
-0.14286
0.25
-0.03333
0.034483
-0.1
0.037037
0
0
-0.03571
0.148148
0.322581
-0.02439
0.275
0.196078
-0.06557
-0.4386
-0.15625
-0.03704
-0.07692
0.083333
-0.03846
-0.08
-0.04348
0.045455
0
0
-0.04348
-0.04545
-0.09524
0
-0.05263
-0.05556
0.058824
0.166667
0.095238

RMBA Est.
0.219609
0.101555
0.111645
0.105715
0.105199
0.109106
0.106997
0.107139
0.103746
0.10865
0.112164
0.110555
0.108271
0.107954
0.106477
0.106198
0.112328
0.107907
0.108965
0.106867
0.109005
0.108427
0.108427
0.10787
0.110739
0.113461
0.108047
0.112719
0.111487
0.107404
0.101583
0.105989
0.107849
0.107227
0.109728
0.107827
0.107179
0.107749
0.109137
0.108427
0.108427
0.107749
0.107718
0.106941
0.108427
0.107606
0.10756
0.109345
0.111028
0.109913

-0.08571
-0.03125
-0.16129
0.076923
0
-0.07143
0.115385
-0.06897
0.074074
0.103448

-0.11071
-0.05077
-0.19389
0.068277
-0.01638
-0.09499
0.110606
-0.09228
0.065142
0.097469

-0.025
-0.01952
-0.0326
-0.00865
-0.01638
-0.02356
-0.00478
-0.02332
-0.00893
-0.00598

0.000625
0.000381
0.001063
7.48E-05
0.000268
0.000555
2.28E-05
0.000544
7.98E-05
3.57E-05

-0.17391
0.263158
-0.08333
0
0.090909
-0.08333
0
0.090909
0
-0.04167

0.105713
0.112534
0.107127
0.108427
0.109846
0.107127
0.108427
0.109846
0.108427
0.107777

e
-6.90539
0.54194
-0.09454
0.279505
0.312095
0.065627
0.198664
0.189708
0.403746
0.094364
-0.12727
-0.02581
0.118271
0.138257
0.231477
0.249055
-0.13767
0.14124
0.074483
0.206867
0.071968
0.108427
0.108427
0.143584
-0.03741
-0.20912
0.132437
-0.16228
-0.08459
0.172978
0.54018
0.262239
0.144886
0.18415
0.026394
0.146289
0.187179
0.151227
0.063682
0.108427
0.108427
0.151227
0.153173
0.202179
0.108427
0.160238
0.163116
0.050522
-0.05564
0.014675

Diff^2
47.68442
0.293699
0.008938
0.078123
0.097403
0.004307
0.039467
0.035989
0.163011
0.008905
0.016198
0.000666
0.013988
0.019115
0.053581
0.062029
0.018953
0.019949
0.005548
0.042794
0.005179
0.011756
0.011756
0.020616
0.001399
0.043731
0.01754
0.026335
0.007156
0.029921
0.291794
0.068769
0.020992
0.033911
0.000697
0.0214
0.035036
0.02287
0.004055
0.011756
0.011756
0.02287
0.023462
0.040876
0.011756
0.025676
0.026607
0.002552
0.003096
0.000215

RSS
GGRM
GGRM Est.
e
49.75437526
-0.109333333
-0.140061187
-0.276946108
-0.339459334
MSS dari RSS
0.238095238
0.273252261
0.857834056
-0.210702341
-0.260653382
-0.050847458
-0.070484298
SE of regression
0.21875
0.250238474
0.926193315
0.005494505
-0.003457885
-0.056466302
-0.077168677
Var (e)
-0.202702703
-0.251136726
0.843292076
0.050847458
0.050495608
0.193548387
0.220257734
0.011583012
0.003785219
0.06870229
0.071736355
-0.003571429
-0.014243044
-0.100358423
-0.129384312
-0.087649402
-0.114265207
0.061135371
0.062734478
0.106995885
0.117291784
-0.040892193
-0.05864116
-0.03875969
-0.056104258
-0.177419355
-0.221058752
-0.117647059
-0.149951492
-0.066666667
-0.089303395
-0.029761905
-0.045400171
0.386503067
0.449803519
-0.030973451
-0.04684147
-0.01369863
-0.026290725
0.078703704
0.083634394
-0.077253219
-0.101897536
-0.03255814
-0.048726672
-0.110576923
-0.141540606
-0.091891892
-0.119312225
-0.023809524
-0.038319006
-0.140243902
-0.176833505
0.04964539
0.049065585
0.121621622
0.134691083
-0.108433735
-0.138990992
0.013513514
0.006081813
0
-0.009994345
0.153333333
0.172416469
0.12716763
0.141288813
0.056410256
0.057113312
-0.033980583
-0.050418861
-0.08040201
-0.10564345
0.213114754
0.243534584
0.18018018
0.204354438
0.003816794
-0.005453751
0.034220532
0.030715623
0.117647059
0.129962801
-0.055921053
-0.076520028

-0.030727853
-0.062513227
0.035157023
-0.049951041
-0.019636841
0.031488474
-0.008952391
-0.020702375
-0.048434023
-0.00035185
0.026709347
-0.007797792
0.003034065
-0.010671616
-0.02902589
-0.026615805
0.001599106
0.010295899
-0.017748967
-0.017344568
-0.043639397
-0.032304433
-0.022636728
-0.015638266
0.063300452
-0.015868019
-0.012592095
0.00493069
-0.024644317
-0.016168532
-0.030963682
-0.027420333
-0.014509482
-0.036589602
-0.000579805
0.013069462
-0.030557257
-0.0074317
-0.009994345
0.019083136
0.014121183
0.000703056
-0.016438278
-0.02524144
0.03041983
0.024174257
-0.009270545
-0.003504909
0.012315742
-0.020598976

0.279627
-0.15062
0.19046
0.108427
0.018937
0.19046
0.108427
0.018937
0.108427
0.149444

0.078191
0.022688
0.036275
0.011756
0.000359
0.036275
0.011756
0.000359
0.011756
0.022333

-0.101045296
0.162790698
-0.096666667
0.011070111
0.03649635
-0.102112676
-0.003921569
-0.007874016
0.035714286
0.038314176

-0.130201441
0.183667288
-0.124992467
0.003175054
0.033423018
-0.131471235
-0.014659583
-0.019361556
0.032492646
0.035585568

-0.029156145
0.02087659
-0.028325801
-0.007895057
-0.003073333
-0.029358559
-0.010738015
-0.01148754
-0.00322164
-0.002728608

Diff^2
0.000944201
0.003907904
0.001236016
0.002495106
0.000385606
0.000991524
8.01453E-05
0.000428588
0.002345855
1.23798E-07
0.000713389
6.08056E-05
9.20555E-06
0.000113883
0.000842502
0.000708401
2.55714E-06
0.000106006
0.000315026
0.000300834
0.001904397
0.001043576
0.000512421
0.000244555
0.004006947
0.000251794
0.000158561
2.43117E-05
0.000607342
0.000261421
0.00095875
0.000751875
0.000210525
0.001338799
3.36174E-07
0.000170811
0.000933746
5.52302E-05
9.98869E-05
0.000364166
0.000199408
4.94287E-07
0.000270217
0.00063713
0.000925366
0.000584395
8.5943E-05
1.22844E-05
0.000151678
0.000424318

RSS
HMSP
HMSP Est.
e
0.036465422
-0.044222539
-0.04350145
-0.225373134
-0.246783268
MSS dari RSS
-0.021194605
-0.017660186
0.000628714
-0.108267717
-0.115371046
-0.028697572
-0.026079792
SE of regression
0.154545455
0.17955009
0.025074173
0.047244094
0.05913969
-0.041353383
-0.040281768
Var (e)
-0.139215686
-0.150099938
0.000522448
0.075170843
0.090478258
0.186440678
0.215341962
0.035714286
0.046201281
0.010344828
0.017732429
-0.027303754
-0.024515692
-0.207017544
-0.226185169
0.013274336
0.021019836
0.253275109
0.290341576
0.139372822
0.162523812
-0.04587156
-0.045351932
0.073717949
0.088847863
-0.052238806
-0.052497066
-0.05511811
-0.055728136
0.183333333
0.211854992
-0.098591549
-0.104512738
0.3125
0.35680199
0.047619048
0.059560451
0.028409091
0.038003608
-0.005524862
-7.60656E-05
-0.016666667
-0.012579068
-0.073446328
-0.076295517
-0.036585366
-0.034931241
0.006329114
0.013226114
-0.119496855
-0.127972052
-0.164285714
-0.178232779
0.076923077
0.092444563
0.174603175
0.202058267
-0.175675676
-0.191014256
-0.032786885
-0.030668699
0.008474576
0.015633688
0.201680672
0.232443831
0.048951049
0.061055184
0.12
0.140784207
0
0.00612377
-0.029761905
-0.027274155
0.141104294
0.164466819
-0.059139785
-0.06024114
-0.04
-0.038763042
0.06547619
0.079599207
0.139664804
0.162851466
-0.039215686
-0.037882908

Diff^2
0.000721089
-0.021410134
0.003534419
-0.007103329
0.002617779
0.025004635
0.011895596
0.001071615
-0.010884252
0.015307415
0.028901284
0.010486995
0.007387601
0.002788062
-0.019167625
0.0077455
0.037066467
0.02315099
0.000519628
0.015129914
-0.00025826
-0.000610026
0.028521659
-0.005921189
0.04430199
0.011941404
0.009594518
0.005448796
0.004087599
-0.00284919
0.001654125
0.006897
-0.008475197
-0.013947065
0.015521486
0.027455093
-0.01533858
0.002118187
0.007159112
0.030763159
0.012104135
0.020784207
0.00612377
0.002487749
0.023362525
-0.001101355
0.001236958
0.014123016
0.023186662
0.001332778

5.1997E-07
0.000458394
1.24921E-05
5.04573E-05
6.85277E-06
0.000625232
0.000141505
1.14836E-06
0.000118467
0.000234317
0.000835284
0.000109977
5.45766E-05
7.77329E-06
0.000367398
5.99928E-05
0.001373923
0.000535968
2.70013E-07
0.000228914
6.66984E-08
3.72132E-07
0.000813485
3.50605E-05
0.001962666
0.000142597
9.20548E-05
2.96894E-05
1.67085E-05
8.11788E-06
2.73613E-06
4.75686E-05
7.1829E-05
0.000194521
0.000240917
0.000753782
0.000235272
4.48671E-06
5.12529E-05
0.000946372
0.00014651
0.000431983
3.75006E-05
6.1889E-06
0.000545808
1.21298E-06
1.53007E-06
0.00019946
0.000537621
1.7763E-06

0.000850081
0.000435832
0.000802351
6.23319E-05
9.44537E-06
0.000861925
0.000115305
0.000131964
1.0379E-05
7.4453E-06

-0.086734694
0.184357542
-0.056603774
0.02
0.078431373
-0.063636364
0.174757282
-0.016528926
0.092436975
0.038461538

-0.091207327
0.213004329
-0.057395303
0.028567176
0.094137127
-0.065287067
0.202231202
-0.012424499
0.109853798
0.049284167

-0.004472633
0.028646787
-0.00079153
0.008567176
0.015705755
-0.001650703
0.02747392
0.004104426
0.017416823
0.010822628

2.00044E-05
0.000820638
6.26519E-07
7.33965E-05
0.000246671
2.72482E-06
0.000754816
1.68463E-05
0.000303346
0.000117129

RSS
KLBF
KLBF Est.
e
0.015138807
-0.066666667
-0.091063942
-0.047619048
-0.062974994
MSS dari RSS
-0.125
-0.177086344
0.000261014
-0.171428571
-0.245553155
-0.206896552
-0.297856713
SE of regression
0.130434783
0.199595606
0.016155925
-0.038461538
-0.049470692
0.08
0.125220957
Var (e)
-0.148148148
-0.211222219
0.000188129
0.043478261
0.071363452
0.159333333
0.242211425
-0.162162162
-0.231888261
0.016129032
0.031032372
0.015873016
0.030654832
-0.1875
-0.269253205
-0.25
-0.361420065
0.230769231
0.347555782
0.041666667
0.068691949
0.24
0.361168119
0
0.007247376
-0.177419355
-0.254387582
-0.039215686
-0.050582811
-0.020408163
-0.022847925
-0.041666667
-0.054197198
0.239130435
0.359885797
0.105263158
0.162475772
0.031746032
0.054062289
0.276923077
0.415617464
-0.120481928
-0.17042368
0.095890411
0.148654065
-0.1125
-0.158652972
-0.014084507
-0.013522621
-0.157142857
-0.224486444
-0.203389831
-0.292685457
0.106382979
0.164127138
0.057692308
0.092324477
-0.054545455
-0.073189157
0.076923077
0.120683511
0.107142857
0.165247707
0.290322581
0.435377307
0.375
0.560248537
0.136363636
0.208338707
-0.16
-0.228699786
0.19047619
0.288136854
0.12
0.184207747
0.071428571
0.11258093
0.133333333
0.203870011
0.176470588
0.267483216
0.05
0.080980864
-0.095238095
-0.133197363

-0.024397275
-0.015355946
-0.052086344
-0.074124583
-0.090960161
0.069160823
-0.011009153
0.045220957
-0.06307407
0.027885192
0.082878091
-0.069726099
0.01490334
0.014781816
-0.081753205
-0.111420065
0.116786552
0.027025283
0.121168119
0.007247376
-0.076968227
-0.011367125
-0.002439762
-0.012530531
0.120755362
0.057212614
0.022316257
0.138694387
-0.049941752
0.052763654
-0.046152972
0.000561886
-0.067343587
-0.089295627
0.057744159
0.03463217
-0.018643702
0.043760434
0.05810485
0.145054726
0.185248537
0.071975071
-0.068699786
0.097660664
0.064207747
0.041152359
0.070536677
0.091012628
0.030980864
-0.037959268

Diff^2
0.000595227
0.000235805
0.002712987
0.005494454
0.008273751
0.004783219
0.000121201
0.002044935
0.003978338
0.000777584
0.006868778
0.004861729
0.00022211
0.000218502
0.006683586
0.012414431
0.013639099
0.000730366
0.014681713
5.25245E-05
0.005924108
0.000129212
5.95244E-06
0.000157014
0.014581858
0.003273283
0.000498015
0.019236133
0.002494179
0.002784003
0.002130097
3.15716E-07
0.004535159
0.007973709
0.003334388
0.001199387
0.000347588
0.001914976
0.003376174
0.021040874
0.03431702
0.005180411
0.004719661
0.009537605
0.004122635
0.001693517
0.004975423
0.008283298
0.000959814
0.001440906

RSS
0.311655975
MSS dari RSS
0.005373379
SE of regression
0.073303335
Var (e)
0.004971106

-0.010526316
0.031914894
-0.257731959
-0.027777778
0.142857143
-0.05
0.078947368
0.097560976
0.333333333
-0.041666667

-0.008275464
0.054311304
-0.37282215
-0.033715673
0.217914485
-0.066486112
0.123668673
0.151117596
0.498803963
-0.054197198

0.002250852
0.022396411
-0.115090192
-0.005937895
0.075057342
-0.016486112
0.044721304
0.053556621
0.16547063
-0.012530531

5.06633E-06
0.000501599
0.013245752
3.52586E-05
0.005633605
0.000271792
0.001999995
0.002868312
0.027380529
0.000157014

UNVR
UNVR Est.
e
-0.052173913
-0.013890125
-0.100917431
-0.042115242
-0.102040816
-0.042765742
-0.011363636
0.009741219
0.014367816
0.024641113
0.138243626
0.096371866
0.264310602
0.169371421
0.082677165
0.064195898
-0.090909091
-0.036319875
0.16
0.108969975
-0.117241379
-0.051567685
-0.015625
0.00727366
0.087301587
0.066873687
0.222627737
0.145234802
-0.068656716
-0.023434554
-0.019230769
0.005185726
0.124183007
0.088230011
0.046511628
0.043254108
-0.033333333
-0.002980416
-0.028735632
-0.0003181
-0.062130178
-0.019655337
-0.022082019
0.003534699
0.051612903
0.046208021
0
0.016321375
0.220858896
0.144210547
0.130653266
0.091976639
-0.068888889
-0.023568994
0.121718377
0.086802858
0
0.016321375
-0.089361702
-0.035423854
-0.070093458
-0.024266504
-0.045226131
-0.009866985
0
0.016321375
-0.044736842
-0.009583661
-0.008264463
0.011535807
0.011111111
0.022755306
0.087912088
0.0672272
-0.080808081
-0.030470847
-0.010989011
0.009958147
0.166666667
0.112830334
0.171428571
0.115587733
0.040650407
0.039860146
0.041015625
0.040071627
0.028142589
0.032617447
0.21350365
0.139951465
-0.045112782
-0.00980135
0.078740157
0.061916159
0.058394161
0.050134733
0.034482759
0.036288746
-0.04
-0.006840775

0.038283788
0.058802189
0.059275074
0.021104855
0.010273297
-0.041871761
-0.094939181
-0.018481267
0.054589216
-0.051030025
0.065673694
0.02289866
-0.0204279
-0.077392936
0.045222163
0.024416495
-0.035952995
-0.00325752
0.030352917
0.028417532
0.04247484
0.025616718
-0.005404883
0.016321375
-0.076648348
-0.038676627
0.045319895
-0.034915519
0.016321375
0.053937849
0.045826954
0.035359145
0.016321375
0.035153181
0.01980027
0.011644195
-0.020684888
0.050337234
0.020947158
-0.053836333
-0.055840839
-0.000790261
-0.000943998
0.004474858
-0.073552185
0.035311432
-0.016823999
-0.008259428
0.001805987
0.033159225

Diff^2
0.001465648
0.003457697
0.003513534
0.000445415
0.000105541
0.001753244
0.009013448
0.000341557
0.002979983
0.002604063
0.004313034
0.000524349
0.000417299
0.005989666
0.002045044
0.000596165
0.001292618
1.06114E-05
0.0009213
0.000807556
0.001804112
0.000656216
2.92128E-05
0.000266387
0.005874969
0.001495881
0.002053893
0.001219093
0.000266387
0.002909292
0.00210011
0.001250269
0.000266387
0.001235746
0.000392051
0.000135587
0.000427865
0.002533837
0.000438783
0.002898351
0.003118199
6.24512E-07
8.91133E-07
2.00244E-05
0.005409924
0.001246897
0.000283047
6.82181E-05
3.26159E-06
0.001099534

RSS
CTRS
0.092248336
-0.076923077
-0.166666667
MSS dari RSS
0
0.001590489
-0.2
-0.375
SE of regression
0.8
0.03988093
-0.022222222
0.045454545
Var (e)
-0.239130435
0.00151254
-0.028571429
-0.117647059
-0.1
0.185185185
-0.15625
-0.185185185
0.363636364
-0.233333333
0.173913043
0
0
-0.111111111
-0.083333333
-0.045454545
0
0
0
0.095238095
0.043478261
0
0.041666667
-0.08
0.043478261
-0.041666667
-0.086956522
-0.047619048
0.15
-0.043478261
0
0.090909091
-0.041666667
0.739130435
0.125
0.777777778
0.3125
0.19047619
0.2
-0.1
0.037037037
0.464285714
0.073170732

-0.013888889
0.056338028
-0.046666667
0.097902098
-0.01910828
-0.142857143
-0.015151515
-0.023076923
0.031496063
0.022900763

0.008278962
0.048944122
-0.010701133
0.073011952
0.005256654
-0.066400589
0.007547834
0.002958596
0.034559289
0.029582148

0.022167851
-0.007393906
0.035965534
-0.024890146
0.024364934
0.076456554
0.022699349
0.02603552
0.003063226
0.006681385

0.000491414
5.46699E-05
0.00129352
0.000619519
0.00059365
0.005845605
0.00051526
0.000677848
9.38335E-06
4.46409E-05

-0.113636364
0.179487179
-0.282608696
0.03030303
0.088235294
0.054054054
0.128205128
0.068181818
0.319148936
-0.048387097

CTRS Est.
e
-0.076160833
-0.203260706
0.032781915
-0.25046923
-0.498313981
1.165786493
0.001309566
0.097157175
-0.305887932
-0.007682534
-0.133836405
-0.108843657
0.295051493
-0.188508042
-0.229487663
0.547783996
-0.297677754
0.279087258
0.032781915
0.032781915
-0.124579832
-0.085239395
-0.031593345
0.032781915
0.032781915
0.032781915
0.167663412
0.094358251
0.032781915
0.09179257
-0.080518543
0.094358251
-0.02622874
-0.090370757
-0.034658834
0.245220273
-0.028794421
0.032781915
0.161532435
-0.02622874
1.079579623
0.20981388
1.134314144
0.475361828
0.30254491
0.31603306
-0.108843657
0.085235831
0.690329215
0.136410383

0.000762244
-0.036594039
0.032781915
-0.05046923
-0.123313981
0.365786493
0.023531788
0.05170263
-0.066757497
0.020888894
-0.016189347
-0.008843657
0.109866308
-0.032258042
-0.044302478
0.184147633
-0.06434442
0.105174215
0.032781915
0.032781915
-0.013468721
-0.001906062
0.0138612
0.032781915
0.032781915
0.032781915
0.072425317
0.05087999
0.032781915
0.050125903
-0.000518543
0.05087999
0.015437927
-0.003414235
0.012960214
0.095220273
0.01468384
0.032781915
0.070623344
0.015437927
0.340449189
0.08481388
0.356536366
0.162861828
0.112068719
0.11603306
-0.008843657
0.048198794
0.226043501
0.063239651

Diff^2
5.81016E-07
0.001339124
0.001074654
0.002547143
0.015206338
0.133799759
0.000553745
0.002673162
0.004456563
0.000436346
0.000262095
7.82103E-05
0.012070606
0.001040581
0.00196271
0.033910351
0.004140204
0.011061615
0.001074654
0.001074654
0.000181406
3.63307E-06
0.000192133
0.001074654
0.001074654
0.001074654
0.005245427
0.002588773
0.001074654
0.002512606
2.68887E-07
0.002588773
0.00023833
1.1657E-05
0.000167967
0.0090669
0.000215615
0.001074654
0.004987657
0.00023833
0.11590565
0.007193394
0.127118181
0.026523975
0.012559398
0.013463671
7.82103E-05
0.002323124
0.051095664
0.003999253

RSS
0.69030661
MSS dari RSS
0.011901838
SE of regression
0.109095546
Var (e)
0.008933403

ISAT
ISAT Est.
-0.080645161
-0.093213171
-0.066666667
-0.075991051
-0.028195489
-0.028592867
-0.14893617
-0.177350697
-0.15
-0.178661382
0.072192513
0.095089566
-0.074812968
-0.086027652
-0.180592992
-0.216353294
-0.093421053
-0.108953631
-0.020319303
-0.018889061
0.325925926
0.40770029
0
0.006145215
0.016759777
0.026793997
0.153846154
0.195690443
-0.252380952
-0.304799219
0.038216561
0.053229698
0.18404908
0.232901776
0.051813472
0.069981691
0.034482759
0.04862949
-0.10952381
-0.128792936
-0.14973262
-0.178331959
0.062893082
0.083632258
-0.01183432
-0.008435187
0.065868263
0.087297812
0.185393258
0.234557863
-0.052132701
-0.058084566
0.005
0.012305435
0.288557214
0.361660394
-0.096525097
-0.112777949
-0.106837607
-0.125483416
-0.129186603
-0.153018362
-0.021978022
-0.020932675
-0.033707865
-0.035384358
-0.122093023
-0.14427876
0.072847682
0.095896763
0.141975309
0.181065039
-0.2
-0.240263582
0.060810811
0.081066808
-0.012738854
-0.009549613
0.122580645
0.157169961
0.051724138
0.069871628
-0.010928962
-0.007319747
-0.077348066
-0.089151005
-0.023952096
-0.023364821
0.165644172
0.21022612
0.2
0.252554011
0.070175439
0.092604442
0.229508197
0.288909407
0.093333333
0.121135986
0.115853659
0.148882018

-0.128156235
0.28698166
-0.367464268
0.075698755
0.157745655
0.109336278
0.214353162
0.129344805
0.484778422
-0.035746588

-0.014519872
0.107494481
-0.084855572
0.045395725
0.069510361
0.055282224
0.086148033
0.061162987
0.165629486
0.012640509

0.000210827
0.011555063
0.007200468
0.002060772
0.00483169
0.003056124
0.007421484
0.003740911
0.027433127
0.000159782

0.051912568
0.149350649
-0.129943503
0.045454545
0.068322981
-0.052325581
0.024539877
0.089820359
0.318681319
-0.033333333

0.070103782
0.190151784
-0.153950896
0.062147214
0.090322133
-0.058322203
0.036379423
0.116807848
0.398774616
-0.034922918

e
-0.01256801
-0.009324384
-0.000397379
-0.028414527
-0.028661382
0.022897053
-0.011214684
-0.035760302
-0.015532578
0.001430243
0.081774365
0.006145215
0.01003422
0.041844289
-0.052418266
0.015013138
0.048852696
0.018168219
0.014146731
-0.019269126
-0.028599339
0.020739176
0.003399132
0.021429549
0.049164605
-0.005951865
0.007305435
0.07310318
-0.016252853
-0.018645809
-0.023831759
0.001045347
-0.001676492
-0.022185736
0.023049081
0.039089731
-0.040263582
0.020255998
0.003189241
0.034589316
0.01814749
0.003609215
-0.011802938
0.000587275
0.044581948
0.052554011
0.022429003
0.059401211
0.027802653
0.033028359

Diff^2
0.000157955
8.69441E-05
1.5791E-07
0.000807385
0.000821475
0.000524275
0.000125769
0.001278799
0.000241261
2.04559E-06
0.006687047
3.77637E-05
0.000100686
0.001750945
0.002747675
0.000225394
0.002386586
0.000330084
0.00020013
0.000371299
0.000817922
0.000430113
1.15541E-05
0.000459226
0.002417158
3.54247E-05
5.33694E-05
0.005344075
0.000264155
0.000347666
0.000567953
1.09275E-06
2.81063E-06
0.000492207
0.00053126
0.001528007
0.001621156
0.000410305
1.01713E-05
0.001196421
0.000329331
1.30264E-05
0.000139309
3.44892E-07
0.00198755
0.002761924
0.00050306
0.003528504
0.000772988
0.001090873

RSS
TLKM
TLKM Est.
e
0.057209171
-0.025157233
-0.020833488
-0.04516129
-0.044932976
MSS dari RSS
0
0.009474185
0.000986365
-0.047297297
-0.047506288
-0.19858156
-0.229762979
SE of regression
0.088495575
0.11608746
0.031406449
0.014634146
0.02710438
-0.052884615
-0.054237498
Var (e)
-0.074450085
-0.080218066
0.000860692
-0.095063985
-0.105052251
-0.04040404
-0.039201775
-0.115789474
-0.130020868
0.202380952
0.253288591
0.158415842
0.200322503
-0.205128205
-0.237649919
0.010752688
0.022428271
0.287234043
0.355513655
0.041322314
0.059256417
-0.03968254
-0.038332561
-0.008264463
-0.000482261
-0.041666667
-0.040722898
-0.017391304
-0.011477641
-0.017699115
-0.01184847
0.009009009
0.020327609
0.276785714
0.34292624
0.013986014
0.026323556
0.137931034
0.175643841
0.048484848
0.067885337
-0.086705202
-0.094982174
-0.044303797
-0.043899929
-0.026490066
-0.022439193
0
0.009474185
-0.102040816
-0.113457448
-0.128787879
-0.145680437
0.156521739
0.198040621
0.157894737
0.199694712
-0.123376623
-0.139161335
0.066666667
0.089789519
0.027777778
0.042938908
0.108108108
0.139715267
0.140243902
0.178430223
-0.064171123
-0.067834692
0
0.009474185
0.062857143
0.085200071
0.290322581
0.359234509
0.016666667
0.029553019
0
0.009474185
0.106557377
0.137847055
0.155555556
0.196876631
-0.044871795
-0.044584213

0.004323745
0.000228314
0.009474185
-0.000208991
-0.031181419
0.027591885
0.012470234
-0.001352883
-0.005767981
-0.009988265
0.001202266
-0.014231395
0.050907639
0.041906661
-0.032521714
0.011675583
0.068279612
0.017934103
0.001349979
0.007782202
0.000943768
0.005913663
0.005850645
0.0113186
0.066140526
0.012337542
0.037712807
0.019400488
-0.008276971
0.000403868
0.004050874
0.009474185
-0.011416632
-0.016892558
0.041518882
0.041799976
-0.015784712
0.023122852
0.01516113
0.031607159
0.03818632
-0.003663569
0.009474185
0.022342928
0.068911929
0.012886352
0.009474185
0.031289678
0.041321075
0.000287582

0.018191214
0.040801134
-0.024007393
0.016692669
0.021999151
-0.005996621
0.011839546
0.026987489
0.080093297
-0.001589585

0.00033092
0.001664733
0.000576355
0.000278645
0.000483963
3.59595E-05
0.000140175
0.000728325
0.006414936
2.52678E-06

-0.060402685
0.207142857
-0.147928994
0.027777778
0.033783784
-0.045751634
0.130136986
0.018181818
0.214285714
-0.039215686

-0.063294741
0.259025401
-0.168740313
0.042938908
0.050174523
-0.045644181
0.166254117
0.031378367
0.267630615
-0.037770129

-0.002892057
0.051882544
-0.020811319
0.01516113
0.016390739
0.000107453
0.036117131
0.013196549
0.053344901
0.001445557

Diff^2
1.86948E-05
5.21272E-08
8.97602E-05
4.36772E-08
0.000972281
0.000761312
0.000155507
1.83029E-06
3.32696E-05
9.97654E-05
1.44544E-06
0.000202533
0.002591588
0.001756168
0.001057662
0.000136319
0.004662105
0.000321632
1.82244E-06
6.05627E-05
8.90698E-07
3.49714E-05
3.423E-05
0.000128111
0.004374569
0.000152215
0.001422256
0.000376379
6.85083E-05
1.6311E-07
1.64096E-05
8.97602E-05
0.000130339
0.000285359
0.001723818
0.001747238
0.000249157
0.000534666
0.00022986
0.000999012
0.001458195
1.34217E-05
8.97602E-05
0.000499206
0.004748854
0.000166058
8.97602E-05
0.000979044
0.001707431
8.27036E-08

RSS
BLTA
BLTA Est.
e
0.043232244
0.022727273
0.04327861
-0.111111111
-0.053518502
MSS dari RSS
0.075
0.081084274
0.000745384
-0.11627907
-0.057256171
-0.078947368
-0.030256436
SE of regression
0.085714286
0.088833262
0.027301713
0.042105263
0.057293524
0.015151515
0.037799528
Var (e)
-0.014925373
0.016046755
0.000538748
0.111111111
0.107201231
-0.022727273
0.010404119
-0.046511628
-0.00679765
0
0.026841364
0
0.026841364
-0.048780488
-0.008438577
-0.025641026
0.00829678
0.105263158
0.102971764
0.095238095
0.09572125
0.152173913
0.136899443
0
0.026841364
-0.018867925
0.013195349
0.307692308
0.24937638
-0.044117647
-0.00506623
0.107692308
0.10472862
0.138888889
0.127291198
0.073170732
0.079761277
0.136363636
0.125464837
0.28
0.229348229
-0.1875
-0.108765911
-0.038461538
-0.000975513
-0.2
-0.117806396
0
0.026841364
0
0.026841364
-0.05
-0.009320576
0.052631579
0.064906564
-0.03
0.0051442
0.030927835
0.049209575
0
0.026841364
-0.01
0.019608976
0.111111111
0.107201231
-0.136363636
-0.071782109
0.021052632
0.042067444
-0.072164948
-0.025351126
0.111111111
0.107201231
-0.05
-0.009320576
0.263157895
0.217167365
0.291666667
0.237786015
0.290322581
0.236813919
0.125
0.117246214
0.044444444
0.058985311

0.020551337
0.057592609
0.006084274
0.059022899
0.048690933
0.003118976
0.015188261
0.022648013
0.030972128
-0.00390988
0.033131392
0.039713978
0.026841364
0.026841364
0.040341911
0.033937805
-0.002291393
0.000483155
-0.01527447
0.026841364
0.032063274
-0.058315928
0.039051417
-0.002963688
-0.011597691
0.006590545
-0.010898799
-0.050651771
0.078734089
0.037486026
0.082193604
0.026841364
0.026841364
0.040679424
0.012274985
0.0351442
0.01828174
0.026841364
0.029608976
-0.00390988
0.064581528
0.021014813
0.046813822
-0.00390988
0.040679424
-0.04599053
-0.053880652
-0.053508661
-0.007753786
0.014540867

Diff^2
0.000422357
0.003316909
3.70184E-05
0.003483703
0.002370807
9.72801E-06
0.000230683
0.000512932
0.000959273
1.52872E-05
0.001097689
0.0015772
0.000720459
0.000720459
0.00162747
0.001151775
5.25048E-06
2.33439E-07
0.000233309
0.000720459
0.001028054
0.003400747
0.001525013
8.78345E-06
0.000134506
4.34353E-05
0.000118784
0.002565602
0.006199057
0.001405202
0.006755789
0.000720459
0.000720459
0.001654816
0.000150675
0.001235115
0.000334222
0.000720459
0.000876691
1.52872E-05
0.004170774
0.000441622
0.002191534
1.52872E-05
0.001654816
0.002115129
0.002903125
0.002863177
6.01212E-05
0.000211437

8.36399E-06
0.002691798
0.000433111
0.00022986
0.000268656
1.15461E-08
0.001304447
0.000174149
0.002845678
2.08964E-06

-0.085106383
-0.046511628
-0.146341463
0.142857143
-0.025
-0.025641026
0.210526316
0.086956522
0.2
-0.066666667

-0.034710874
-0.00679765
-0.07899846
0.130161193
0.008760394
0.00829678
0.179102165
0.089731695
0.171489125
-0.021374556

0.050395509
0.039713978
0.067343003
-0.01269595
0.033760394
0.033937805
-0.031424151
0.002775173
-0.028510875
0.045292111

0.002539707
0.0015772
0.00453508
0.000161187
0.001139764
0.001151775
0.000987477
7.70159E-06
0.00081287
0.002051375

RSS
c
0.080417315 g
k
MSS dari RSS
o
0.001386505 s
w
SE of regression aa
0.037235808 ae
ai
Var (e)
am
0.001052753 aq
au
ay
bc
bg
bk
bo
bs
bw
ca

1st pass regr.

AALI
BUMI
ANTM
TINS
INTP
SMCB
INKP
ASII
GJTL
INDR
INDF
RMBA
GGRM
HMSP
KLBF
UNVR
CTRS
ISAT
TLKM
BLTA

Average Ret
0.021470112
0.061547493
0.020864556
0.033873202
0.013617426
0.01587986
0.004389064
0.028301744
0.009250189
-0.006290573
-0.005680329
0.10857901
0.001572133
0.017034301
0.021585155
0.021951344
0.046551752
0.018124015
0.02118742
0.033873202

Alpha
0.009241
0.046621
0.010219
-0.00747
0.002352
0.003047
-0.01107
0.012966
-0.00693
-0.01869
-0.01638
0.108427
-0.00999
0.006124
0.007247
0.016321
0.032782
0.006145
0.009474
0.026841

INKP
1.589935055
0.26529323
0.382436895
35.91752765
0.941189307
ASII
1.577322067
0.163403181
0.616349758
93.17936505
0.926315591
GJTL
1.663722586
0.216903205
0.503570036
58.83420463
1.030576037
INDR
1.27545494
0.151274237
0.550696382
71.0886556
0.605687283
INDF
1.100550571
0.13808113
0.522735778
63.52597516
0.450960208
RMBA
0.015604466
1.541955687
1.76573E-06
0.000102413

9.06601E-05
GGRM
1.189635745
0.123660528
0.614740148
92.5477398
0.52692187
HMSP
1.122170302
0.112809382
0.630461621
98.95257458
0.468851983
KLBF
1.474669762
0.150951516
0.621993511
95.4365193
0.809669473
UNVR
0.579053751
0.132440809
0.247885052
19.11587189
0.124840636
CTRS
1.416255723
0.326009684
0.245500899
18.87219237
0.746795291
ISAT
1.232043982
0.132294224
0.599254506
86.73026117
0.565158988
TLKM
1.204730006
0.100470004
0.712562067
143.7826924
0.540378013
BLTA

0.723238801
0.168915706
0.240167082
18.33257079
0.194751876

Beta
SE of the regression SE (beta)
t-statistic
Critical value (5%)
1.257766249
0.149843748
0.245572381
5.121774059
2.001717484
1.535217755
0.209367068
0.555842724
2.761964291
2.001717484
1.094964316
0.018533018
0.189121507
5.789739795
2.001717484
1.489512823
0.107582854
0.3021397
4.929881194
2.001717484
1.158700836
0.02758714
0.236144573
4.906743455
2.001717484
1.31988192
0.061646748
0.260620299
5.064386477
2.001717484
1.589935055
0.121825999
0.26529323
5.993123364
2.001717484
1.577322067
0.097595848
0.163403181
9.652945926
2.001717484
1.663722586
0.124678512
0.216903205
7.670345796
2.001717484
1.27545494
0.043247689
0.151274237
8.431408874
2.001717484
1.100550571
0.021157875
0.13808113
7.970318385
2.001717484
0.015604466
0.926193315
1.541955687
0.010119919
2.001717484
1.189635745
0.025074173
0.123660528
9.620173585
2.001717484
1.122170302
0.016155925
0.112809382
9.947490868
2.001717484
1.474669762
0.073303335
0.150951516
9.769161648
2.001717484
0.579053751
0.03988093
0.132440809
4.372170158
2.001717484
1.416255723
0.109095546
0.326009684
4.344213665
2.001717484
1.232043982
0.031406449
0.132294224
9.312908309
2.001717484
1.204730006
0.027301713
0.100470004
11.9909421
2.001717484
0.723238801
0.037235808
0.168915706
4.281655146
2.001717484
AALI
1.257766249
0.245572381
0.311430242
26.23256951
0.589003788

0.009241221
0.019491534
0.149843748
58
1.302282634

BUMI
1.535217755
0.555842724
0.116236893
7.628446746
0.877522345

0.046621023
0.044118266
0.339165003
58
6.671908149

ANTM
1.094964316
0.189121507
0.366266267
33.52108689
0.446393793

0.010218541
0.015010924
0.115398464
58
0.772374717

TINS
1.489512823
0.3021397
0.295293166
24.30372859
0.826050708

-0.007468781
0.023981387
0.184360085
58
1.971341182

INTP
1.158700836

0.002351719

Beta
SE(Beta)
R-squared (not adjusted)
f-stat
ESS

0.236144573
0.293339013
24.07613133
0.499874354

0.018743232
0.144091073
58
1.204209767

SMCB
1.31988192
0.260620299
0.306618296
25.64801039
0.648617071

0.003047037
0.020685916
0.159025711
58
1.466772259

INKP
1.589935055
0.26529323
0.382436895
35.91752765
0.941189307

-0.011069406
0.021056815
0.161877048
58
1.519842354

ASII
1.577322067
0.163403181
0.616349758
93.17936505
0.926315591

0.012965906
0.012969613
0.099705614
58
0.576590152

GJTL
1.663722586
0.216903205
0.503570036
58.83420463
1.030576037

-0.006925696
0.017216009
0.132350345
58
1.015963597

INDR
1.27545494
0.151274237
0.550696382
71.0886556
0.605687283

-0.018691446
0.012006916
0.092304756
58
0.49416974

INDF
1.100550571
0.13808113
0.522735778
63.52597516
0.450960208

-0.016380658
0.010959755
0.084254565
58
0.41173224

RMBA
0.015604466
1.541955687
1.76573E-06
0.000102413

0.108427293
0.122387877
0.940872989
58

9.06601E-05

51.34403489

GGRM
1.189635745
0.123660528
0.614740148
92.5477398
0.52692187

-0.009994345
0.009815165
0.075455379
58
0.330223823

HMSP
1.122170302
0.112809382
0.630461621
98.95257458
0.468851983

0.00612377
0.00895389
0.068834209
58
0.274812607

KLBF
1.474669762
0.150951516
0.621993511
95.4365193
0.809669473

0.007247376
0.011981301
0.092107838
58
0.492063518

UNVR
0.579053751
0.132440809
0.247885052
19.11587189
0.124840636

0.016321375
0.010512072
0.080812945
58
0.378782456

CTRS
1.416255723
0.326009684
0.245500899
18.87219237
0.746795291

0.032781915
0.025875992
0.198925111
58
2.295129576

ISAT
1.232043982
0.132294224
0.599254506
86.73026117
0.565158988

0.006145215
0.010500437
0.080723502
58
0.377944455

TLKM
1.204730006
0.100470004
0.712562067
143.7826924
0.540378013

0.009474185
0.00797449
0.061304948
58
0.217981206

BLTA

0.723238801
0.168915706
0.240167082
18.33257079
0.194751876

0.026841364
0.013407152
0.103069256
58
0.616149745

Significant?
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
FALSE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE
TRUE

Alpha
SE(Alpha)
SE of the regression
df
RSS

Var (e)
0.022073
0.036654
0.000186
0.011361
0.000727
0.003669
0.014517
0.00849
0.015281
0.001414
0.000148
0.843292
0.000522
0.000188
0.004971
0.001513
0.008933
0.000861
0.000539
0.001053

1st pass regr.

AALI
BUMI
ANTM
TINS
INTP
SMCB
INKP
ASII
GJTL
INDR
INDF
GGRM
HMSP
KLBF
UNVR
CTRS
ISAT
TLKM
BLTA

Beta

2nd pass regr.

Koefisien
se
t-stat
critical value (5%)
Significant?

Average Ret
Alpha
0.01995274 0.032265266
0.016940106
1.904667275
2.119905299
FALSE

1.257766249
1.535217755
1.094964316
1.489512823
1.158700836
1.31988192
1.589935055
1.577322067
1.663722586
1.27545494
1.100550571
1.189635745
1.122170302
1.474669762
0.579053751
1.416255723
1.232043982
1.204730006
0.723238801

Var (e)
0.022072587
0.036654154
0.00018629
0.011361337
0.00072744
0.003668746
0.01451689
0.008490163
0.015280633
0.001414443
0.000147834
0.000522448
0.000188129
0.004971106
0.00151254
0.008933403
0.000860692
0.000538748
0.001052753

These results seems to violate CAPM

1. Alpha >> E(rf monthly)
2. Beta1 < E(rm-rf)
3. Beta2 =/ 0

AALI
BUMI
ANTM
TINS
INTP
SMCB
INKP
ASII
GJTL
INDR
INDF
GGRM
HMSP
KLBF
UNVR

Average Ret
Beta
0.021470112 1.257766249
0.061547493 1.535217755
0.020864556 1.094964316
0.033873202 1.489512823
0.013617426 1.158700836
0.01587986
1.31988192
0.004389064 1.589935055
0.028301744 1.577322067
0.009250189 1.663722586
-0.006290573
1.27545494
-0.005680329 1.100550571
0.001572133 1.189635745
0.017034301 1.122170302
0.021585155 1.474669762
0.021951344 0.579053751

CTRS
ISAT
TLKM
BLTA

0.046551752
0.018124015
0.02118742
0.033873202

1.416255723
1.232043982
1.204730006
0.723238801

Average Ret
0.021470112
0.061547493
0.020864556
0.033873202
0.013617426
0.01587986
0.004389064
0.028301744
0.009250189
-0.006290573
-0.005680329
0.001572133
0.017034301
0.021585155
0.021951344
0.046551752
0.018124015
0.02118742
0.033873202

1.216391691
0.416249804
0.355610927
4.414859799
0.001783454

beta2
se(beta2)
r-squared
F-stat
ESS

beta1 *beta(i)
beta2*var (ei) Notes
-0.016490022 1.216391691 E(rf monthly) =
0.014282736 0.416249804 E(rm-rf) =
-1.154542217 2.922263695
2.119905299 2.119905299
FALSE
TRUE

Var (e)
Residual (ui)
0.022072587 -0.016903472
0.036654154 0.010012193
0.00018629 0.006428674
0.011361337 0.012350199
0.00072744
-0.00042569
0.003668746 0.000916844
0.01451689 -0.019316363
0.008490163 0.011719189
0.015280633
-0.01416749
0.001414443 -0.019244075
0.000147834 -0.019977315
0.000522448 -0.011711515
0.000188129
0.00304481
0.004971106 0.007590414
0.00151254 -0.002605153

-0.016490022
0.014282736
0.014212076
16
0.00323173

beta1
se(beta1)
se(regres.)
df
RSS

0.009722397
0.00000031

0.032265266
0.016940106
#N/A
#N/A
#N/A

alpha
se(alpha)

0.008933403
0.000860692
0.000538748
0.001052753

0.026774058
0.005128243
0.00813285
0.0122536

AALI
Date
29-Dec-99
26-Jan-00
23-Feb-00
29-Mar-00
26-Apr-00
31-May-00
28-Jun-00
26-Jul-00
30-Aug-00
27-Sep-00
26-Oct-00
29-Nov-00
20-Dec-00
31-Jan-01
28-Feb-01
28-Mar-01
25-Apr-01
30-May-01
27-Jun-01
25-Jul-01
29-Aug-01
26-Sep-01
31-Oct-01
28-Nov-01
26-Dec-01
30-Jan-02
27-Feb-02
27-Mar-02
24-Apr-02
29-May-02
26-Jun-02
31-Jul-02
28-Aug-02
25-Sep-02
30-Oct-02
27-Nov-02
27-Dec-02
29-Jan-03
26-Feb-03
26-Mar-03
30-Apr-03
28-May-03
25-Jun-03
30-Jul-03
27-Aug-03
24-Sep-03
29-Oct-03
1-Dec-03

Closing Price
1,900
1,750
1,650
1,775
1,675
1,550
1,750
1,600
1,395
1,150
1,100
1,025
1,000
875
825
650
495
700
950
1,750
1,325
1,200
1,025
950
925
1,100
1,375
1,525
1,975
1,750
1,900
1,825
1,625
1,250
1,150
1,275
1,550
1,700
1,475
1,325
1,525
1,575
1,425
1,375
1,475
1,625
1,725
1,650

Adj.

Adj. Close
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

1,900
1,750
1,650
1,775
1,675
1,550
1,750
1,600
1,395
1,150
1,100
1,025
1,000
875
825
650
495
700
950
1,750
1,325
1,200
1,025
950
925
1,100
1,375
1,525
1,975
1,750
1,900
1,825
1,625
1,250
1,150
1,275
1,550
1,700
1,475
1,325
1,525
1,575
1,425
1,375
1,475
1,625
1,725
1,650

Arithmetic Average
0.0215
0.0117
Return
-0.0789
-0.0571
0.0758
-0.0563
-0.0746
0.1290
-0.0857
-0.1281
-0.1756
-0.0435
-0.0682
-0.0244
-0.1250
-0.0571
-0.2121
-0.2385
0.4141
0.3571
0.8421
-0.2429
-0.0943
-0.1458
-0.0732
-0.0263
0.1892
0.2500
0.1091
0.2951
-0.1139
0.0857
-0.0395
-0.1096
-0.2308
-0.0800
0.1087
0.2157
0.0968
-0.1324
-0.1017
0.1509
0.0328
-0.0952
-0.0351
0.0727
0.1017
0.0615
-0.0435

Geometric Average
0.0081
-0.0018

Ex. Return 1 + Return 1 + Ex. Rt JCI Return

-0.0883
-0.0659
0.0671
-0.0649
-0.0832
0.1203
-0.0954
-0.1388
-0.1863
-0.0542
-0.0790
-0.0355
-0.1364
-0.0687
-0.2238
-0.2507
0.4015
0.3443
0.8290
-0.2564
-0.1083
-0.1597
-0.0870
-0.0402
0.1753
0.2367
0.0958
0.2819
-0.1270
0.0735
-0.0514
-0.1213
-0.2421
-0.0904
0.0984
0.2054
0.0866
-0.1423
-0.1113
0.1420
0.0241
-0.1034
-0.0426
0.0656
0.0947
0.0548
-0.0501

0.9211
0.9429
1.0758
0.9437
0.9254
1.1290
0.9143
0.8719
0.8244
0.9565
0.9318
0.9756
0.8750
0.9429
0.7879
0.7615
1.4141
1.3571
1.8421
0.7571
0.9057
0.8542
0.9268
0.9737
1.1892
1.2500
1.1091
1.2951
0.8861
1.0857
0.9605
0.8904
0.7692
0.9200
1.1087
1.2157
1.0968
0.8676
0.8983
1.1509
1.0328
0.9048
0.9649
1.0727
1.1017
1.0615
0.9565

0.9117
0.9341
1.0671
0.9351
0.9168
1.1203
0.9046
0.8612
0.8137
0.9458
0.9210
0.9645
0.8636
0.9313
0.7762
0.7493
1.4015
1.3443
1.8290
0.7436
0.8917
0.8403
0.9130
0.9598
1.1753
1.2367
1.0958
1.2819
0.8730
1.0735
0.9486
0.8787
0.7579
0.9096
1.0984
1.2054
1.0866
0.8577
0.8887
1.1420
1.0241
0.8966
0.9574
1.0656
1.0947
1.0548
0.9499

-0.0467
-0.0916
0.0124
-0.1143
-0.1331
0.1228
-0.0263
-0.0556
-0.1256
0.0098
0.0269
-0.0245
0.0259
0.0063
-0.1240
-0.0586
0.1578
0.0665
0.0264
-0.0219
-0.0841
-0.0431
-0.0022
-0.0129
0.1758
0.0227
0.0589
0.1308
-0.0433
-0.0330
-0.0791
-0.0446
-0.0775
-0.1163
0.0607
0.1094
-0.0786
0.0153
0.0088
0.1242
0.0931
0.0151
0.0159
0.0445
0.1408
0.0313
0.0086

30-Dec-03
28-Jan-04
25-Feb-04
31-Mar-04
28-Apr-04
26-May-04
30-Jun-04
28-Jul-04
25-Aug-04
29-Sep-04
27-Oct-04
24-Nov-04
29-Dec-04

1,725
1,675
1,975
1,950
2,475
2,450
2,250
2,250
2,275
2,575
2,900
3,050
3,075

1
1
1
1
1
1
1
1
1
1
1
1
1

1,725
1,675
1,975
1,950
2,475
2,450
2,250
2,250
2,275
2,575
2,900
3,050
3,075

0.0455
-0.0290
0.1791
-0.0127
0.2692
-0.0101
-0.0816
0.0000
0.0111
0.1319
0.1262
0.0517
0.0082

0.0388
-0.0355
0.1730
-0.0185
0.2634
-0.0158
-0.0874
-0.0057
0.0054
0.1261
0.1204
0.0459
0.0024

1.0455
0.9710
1.1791
0.9873
1.2692
0.9899
0.9184
1.0000
1.0111
1.1319
1.1262
1.0517
1.0082

1.0388
0.9645
1.1730
0.9815
1.2634
0.9842
0.9126
0.9943
1.0054
1.1261
1.1204
1.0459
1.0024

0.0984
0.1087
0.0130
-0.0532
0.1118
-0.1222
0.0200
0.0380
-0.0375
0.1109
0.0446
0.1321
0.0448

JCI Excess
Return
-0.0560
-0.1004
0.0038
-0.1228
-0.1416
0.1141
-0.0360
-0.0663
-0.1363
-0.0009
0.0161
-0.0357
0.0145
-0.0053
-0.1357
-0.0709
0.1452
0.0536
0.0132
-0.0354
-0.0980
-0.0570
-0.0160
-0.0268
0.1619
0.0093
0.0456
0.1176
-0.0564
-0.0452
-0.0910
-0.0564
-0.0888
-0.1267
0.0504
0.0991
-0.0888
0.0054
-0.0008
0.1153
0.0844
0.0070
0.0084
0.0374
0.1339
0.0245
0.0020

0.0917
0.1022
0.0068
-0.0591
0.1060
-0.1279
0.0143
0.0322
-0.0432
0.1052
0.0389
0.1263
0.0390

Return-based
#REF!
#REF!
[ - E(Y)] Squared e Squared
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

e
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

n
60

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

turn-based

Excess Return-based
0.3780
X Squared
0.0022
0.0084
0.0002
0.0131
0.0177
0.0151
0.0007
0.0031
0.0158
0.0001
0.0007
0.0006
0.0007
0.0000
0.0154
0.0034
0.0249
0.0044
0.0007
0.0005
0.0071
0.0019
0.0000
0.0002
0.0309
0.0005
0.0035
0.0171
0.0019
0.0011
0.0063
0.0020
0.0060
0.0135
0.0037
0.0120
0.0062
0.0002
0.0001
0.0154
0.0087
0.0002
0.0003
0.0020
0.0198

0.4808
XY
0.0037
0.0052
0.0009
0.0064
0.0099
0.0158
0.0023
0.0071
0.0221
-0.0004
-0.0018
0.0006
-0.0032
-0.0004
0.0263
0.0140
0.0654
0.0238
0.0222
0.0053
0.0079
0.0063
0.0002
0.0003
0.0333
0.0057
0.0064
0.0386
0.0049
-0.0028
0.0031
0.0049
0.0179
0.0093
0.0066
0.0236
-0.0076
-0.0020
-0.0009
0.0188
0.0031
-0.0014
-0.0006
0.0032
0.0143

0.5834
X
-0.0467
-0.0916
0.0124
-0.1143
-0.1331
0.1228
-0.0263
-0.0556
-0.1256
0.0098
0.0269
-0.0245
0.0259
0.0063
-0.1240
-0.0586
0.1578
0.0665
0.0264
-0.0219
-0.0841
-0.0431
-0.0022
-0.0129
0.1758
0.0227
0.0589
0.1308
-0.0433
-0.0330
-0.0791
-0.0446
-0.0775
-0.1163
0.0607
0.1094
-0.0786
0.0153
0.0088
0.1242
0.0931
0.0151
0.0159
0.0445
0.1408

#REF!
#REF!
1.2882
Y
[ - E(Y)] Squared e Squared
-0.0789
#REF!
#REF!
-0.0571
#REF!
#REF!
0.0758
#REF!
#REF!
-0.0563
#REF!
#REF!
-0.0746
#REF!
#REF!
0.1290
#REF!
#REF!
-0.0857
#REF!
#REF!
-0.1281
#REF!
#REF!
-0.1756
#REF!
#REF!
-0.0435
#REF!
#REF!
-0.0682
#REF!
#REF!
-0.0244
#REF!
#REF!
-0.1250
#REF!
#REF!
-0.0571
#REF!
#REF!
-0.2121
#REF!
#REF!
-0.2385
#REF!
#REF!
0.4141
#REF!
#REF!
0.3571
#REF!
#REF!
0.8421
#REF!
#REF!
-0.2429
#REF!
#REF!
-0.0943
#REF!
#REF!
-0.1458
#REF!
#REF!
-0.0732
#REF!
#REF!
-0.0263
#REF!
#REF!
0.1892
#REF!
#REF!
0.2500
#REF!
#REF!
0.1091
#REF!
#REF!
0.2951
#REF!
#REF!
-0.1139
#REF!
#REF!
0.0857
#REF!
#REF!
-0.0395
#REF!
#REF!
-0.1096
#REF!
#REF!
-0.2308
#REF!
#REF!
-0.0800
#REF!
#REF!
0.1087
#REF!
#REF!
0.2157
#REF!
#REF!
0.0968
#REF!
#REF!
-0.1324
#REF!
#REF!
-0.1017
#REF!
#REF!
0.1509
#REF!
#REF!
0.0328
#REF!
#REF!
-0.0952
#REF!
#REF!
-0.0351
#REF!
#REF!
0.0727
#REF!
#REF!
0.1017
#REF!
#REF!

e
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

n
60

0.0010
0.0001
0.0097
0.0118
0.0002
0.0028
0.0125
0.0149
0.0004
0.0014
0.0014
0.0123
0.0020
0.0174
0.0020

0.0019
-0.0004
0.0045
-0.0032
0.0023
0.0007
0.0301
0.0012
-0.0016
0.0000
-0.0004
0.0146
0.0056
0.0068
0.0004

0.0313
0.0086
0.0984
0.1087
0.0130
-0.0532
0.1118
-0.1222
0.0200
0.0380
-0.0375
0.1109
0.0446
0.1321
0.0448

0.0615
-0.0435
0.0455
-0.0290
0.1791
-0.0127
0.2692
-0.0101
-0.0816
0.0000
0.0111
0.1319
0.1262
0.0517
0.0082

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

Return-based
0.3768
X Squared
0.0031
0.0101
0.0000
0.0151
0.0201
0.0130
0.0013
0.0044
0.0186
0.0000
0.0003
0.0013
0.0002
0.0000
0.0184
0.0050
0.0211
0.0029
0.0002
0.0013
0.0096
0.0032
0.0003
0.0007
0.0262
0.0001
0.0021
0.0138
0.0032
0.0020
0.0083
0.0032
0.0079
0.0161
0.0025
0.0098
0.0079
0.0000
0.0000
0.0133
0.0071
0.0000
0.0001
0.0014
0.0179

0.4703
XY
0.0049
0.0066
0.0003
0.0080
0.0118
0.0137
0.0034
0.0092
0.0254
0.0000
-0.0013
0.0013
-0.0020
0.0004
0.0304
0.0178
0.0583
0.0185
0.0110
0.0091
0.0106
0.0091
0.0014
0.0011
0.0284
0.0022
0.0044
0.0332
0.0072
-0.0033
0.0047
0.0068
0.0215
0.0115
0.0050
0.0204
-0.0077
-0.0008
0.0001
0.0164
0.0020
-0.0007
-0.0004
0.0025
0.0127

0.0000
X
-0.0560
-0.1004
0.0038
-0.1228
-0.1416
0.1141
-0.0360
-0.0663
-0.1363
-0.0009
0.0161
-0.0357
0.0145
-0.0053
-0.1357
-0.0709
0.1452
0.0536
0.0132
-0.0354
-0.0980
-0.0570
-0.0160
-0.0268
0.1619
0.0093
0.0456
0.1176
-0.0564
-0.0452
-0.0910
-0.0564
-0.0888
-0.1267
0.0504
0.0991
-0.0888
0.0054
-0.0008
0.1153
0.0844
0.0070
0.0084
0.0374
0.1339

0.7049
Y
-0.0883
-0.0659
0.0671
-0.0649
-0.0832
0.1203
-0.0954
-0.1388
-0.1863
-0.0542
-0.0790
-0.0355
-0.1364
-0.0687
-0.2238
-0.2507
0.4015
0.3443
0.8290
-0.2564
-0.1083
-0.1597
-0.0870
-0.0402
0.1753
0.2367
0.0958
0.2819
-0.1270
0.0735
-0.0514
-0.1213
-0.2421
-0.0904
0.0984
0.2054
0.0866
-0.1423
-0.1113
0.1420
0.0241
-0.1034
-0.0426
0.0656
0.0947

0.0006
0.0000
0.0084
0.0104
0.0000
0.0035
0.0112
0.0164
0.0002
0.0010
0.0019
0.0111
0.0015
0.0159
0.0015

0.0013
-0.0001
0.0036
-0.0036
0.0012
0.0011
0.0279
0.0020
-0.0013
-0.0002
-0.0002
0.0133
0.0047
0.0058
0.0001

0.0245
0.0020
0.0917
0.1022
0.0068
-0.0591
0.1060
-0.1279
0.0143
0.0322
-0.0432
0.1052
0.0389
0.1263
0.0390

0.0548
-0.0501
0.0388
-0.0355
0.1730
-0.0185
0.2634
-0.0158
-0.0874
-0.0057
0.0054
0.1261
0.1204
0.0459
0.0024

BUMI
Date
29-Dec-99
26-Jan-00
23-Feb-00
29-Mar-00
26-Apr-00
31-May-00
28-Jun-00
26-Jul-00
30-Aug-00
27-Sep-00
26-Oct-00
29-Nov-00
20-Dec-00
31-Jan-01
28-Feb-01
28-Mar-01
25-Apr-01
30-May-01
27-Jun-01
25-Jul-01
29-Aug-01
26-Sep-01
31-Oct-01
28-Nov-01
26-Dec-01
30-Jan-02
27-Feb-02
27-Mar-02
24-Apr-02
29-May-02
26-Jun-02
31-Jul-02
28-Aug-02
25-Sep-02
30-Oct-02
27-Nov-02
27-Dec-02
29-Jan-03
26-Feb-03
26-Mar-03
30-Apr-03
28-May-03
25-Jun-03
30-Jul-03
27-Aug-03
24-Sep-03
29-Oct-03
1-Dec-03

Closing Price
300
250
350
225
175
150
225
180
155
145
150
135
150
140
90
65
50
50
110
80
65
75
65
55
55
40
35
40
40
40
40
35
30
25
15
20
20
20
20
20
25
30
35
75
150
185
210
210

Adj.

Adj. Close
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

300
250
350
225
175
150
225
180
155
145
150
135
150
140
90
65
50
50
110
80
65
75
65
55
55
40
35
40
40
40
40
35
30
25
15
20
20
20
20
20
25
30
35
75
150
185
210
210

Arithmetic Average
0.0615
0.0518
Return
-0.1667
0.4000
-0.3571
-0.2222
-0.1429
0.5000
-0.2000
-0.1389
-0.0645
0.0345
-0.1000
0.1111
-0.0667
-0.3571
-0.2778
-0.2308
0.0000
1.2000
-0.2727
-0.1875
0.1538
-0.1333
-0.1538
0.0000
-0.2727
-0.1250
0.1429
0.0000
0.0000
0.0000
-0.1250
-0.1429
-0.1667
-0.4000
0.3333
0.0000
0.0000
0.0000
0.0000
0.2500
0.2000
0.1667
1.1429
1.0000
0.2333
0.1351
0.0000

Geometric Average
0.0165
0.0062

Ex. Return 1 + Return 1 + Ex. Rt JCI Return

-0.1760
0.3912
-0.3658
-0.2308
-0.1514
0.4913
-0.2097
-0.1495
-0.0752
0.0238
-0.1108
0.1000
-0.0781
-0.3687
-0.2894
-0.2430
-0.0127
1.1871
-0.2858
-0.2010
0.1399
-0.1472
-0.1677
-0.0139
-0.2866
-0.1383
0.1296
-0.0132
-0.0131
-0.0122
-0.1369
-0.1546
-0.1780
-0.4104
0.3230
-0.0103
-0.0102
-0.0100
-0.0096
0.2411
0.1913
0.1585
1.1354
0.9929
0.2264
0.1284
-0.0066

0.8333
1.4000
0.6429
0.7778
0.8571
1.5000
0.8000
0.8611
0.9355
1.0345
0.9000
1.1111
0.9333
0.6429
0.7222
0.7692
1.0000
2.2000
0.7273
0.8125
1.1538
0.8667
0.8462
1.0000
0.7273
0.8750
1.1429
1.0000
1.0000
1.0000
0.8750
0.8571
0.8333
0.6000
1.3333
1.0000
1.0000
1.0000
1.0000
1.2500
1.2000
1.1667
2.1429
2.0000
1.2333
1.1351
1.0000

0.8240
1.3912
0.6342
0.7692
0.8486
1.4913
0.7903
0.8505
0.9248
1.0238
0.8892
1.1000
0.9219
0.6313
0.7106
0.7570
0.9873
2.1871
0.7142
0.7990
1.1399
0.8528
0.8323
0.9861
0.7134
0.8617
1.1296
0.9868
0.9869
0.9878
0.8631
0.8454
0.8220
0.5896
1.3230
0.9897
0.9898
0.9900
0.9904
1.2411
1.1913
1.1585
2.1354
1.9929
1.2264
1.1284
0.9934

-0.0467
-0.0916
0.0124
-0.1143
-0.1331
0.1228
-0.0263
-0.0556
-0.1256
0.0098
0.0269
-0.0245
0.0259
0.0063
-0.1240
-0.0586
0.1578
0.0665
0.0264
-0.0219
-0.0841
-0.0431
-0.0022
-0.0129
0.1758
0.0227
0.0589
0.1308
-0.0433
-0.0330
-0.0791
-0.0446
-0.0775
-0.1163
0.0607
0.1094
-0.0786
0.0153
0.0088
0.1242
0.0931
0.0151
0.0159
0.0445
0.1408
0.0313
0.0086

30-Dec-03
28-Jan-04
25-Feb-04
31-Mar-04
28-Apr-04
26-May-04
30-Jun-04
28-Jul-04
25-Aug-04
29-Sep-04
27-Oct-04
24-Nov-04
29-Dec-04

500
475
600
575
550
420
575
600
600
725
750
775
800

1
1
1
1
1
1
1
1
1
1
1
1
1

500
475
600
575
550
420
575
600
600
725
750
775
800

1.3810
-0.0500
0.2632
-0.0417
-0.0435
-0.2364
0.3690
0.0435
0.0000
0.2083
0.0345
0.0333
0.0323

1.3743
-0.0565
0.2570
-0.0475
-0.0493
-0.2421
0.3633
0.0377
-0.0058
0.2026
0.0287
0.0275
0.0265

2.3810
0.9500
1.2632
0.9583
0.9565
0.7636
1.3690
1.0435
1.0000
1.2083
1.0345
1.0333
1.0323

2.3743
0.9435
1.2570
0.9525
0.9507
0.7579
1.3633
1.0377
0.9942
1.2026
1.0287
1.0275
1.0265

0.0984
0.1087
0.0130
-0.0532
0.1118
-0.1222
0.0200
0.0380
-0.0375
0.1109
0.0446
0.1321
0.0448

JCI Excess
Return
-0.0560
-0.1004
0.0038
-0.1228
-0.1416
0.1141
-0.0360
-0.0663
-0.1363
-0.0009
0.0161
-0.0357
0.0145
-0.0053
-0.1357
-0.0709
0.1452
0.0536
0.0132
-0.0354
-0.0980
-0.0570
-0.0160
-0.0268
0.1619
0.0093
0.0456
0.1176
-0.0564
-0.0452
-0.0910
-0.0564
-0.0888
-0.1267
0.0504
0.0991
-0.0888
0.0054
-0.0008
0.1153
0.0844
0.0070
0.0084
0.0374
0.1339
0.0245
0.0020

0.0917
0.1022
0.0068
-0.0591
0.1060
-0.1279
0.0143
0.0322
-0.0432
0.1052
0.0389
0.1263
0.0390

ANTM
Date
29-Dec-99
26-Jan-00
23-Feb-00
29-Mar-00
26-Apr-00
31-May-00
28-Jun-00
26-Jul-00
30-Aug-00
27-Sep-00
26-Oct-00
29-Nov-00
20-Dec-00
31-Jan-01
28-Feb-01
28-Mar-01
25-Apr-01
30-May-01
27-Jun-01
25-Jul-01
29-Aug-01
26-Sep-01
31-Oct-01
28-Nov-01
26-Dec-01
30-Jan-02
27-Feb-02
27-Mar-02
24-Apr-02
29-May-02
26-Jun-02
31-Jul-02
28-Aug-02
25-Sep-02
30-Oct-02
27-Nov-02
27-Dec-02
29-Jan-03
26-Feb-03
26-Mar-03
30-Apr-03
28-May-03
25-Jun-03
30-Jul-03
27-Aug-03
24-Sep-03
29-Oct-03
1-Dec-03

Closing Price
1,375
1,350
1,200
1,150
1,025
1,050
1,100
1,170
1,075
980
1,050
1,000
925
900
900
800
800
925
975
1,075
1,025
950
900
750
775
975
1,025
1,050
1,325
1,175
1,175
575
525
435
415
435
600
750
825
750
725
850
800
850
875
1,100
1,175
1,275

Adj.
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1.55
1.55
1.55
1.55
1.55
1.55
1.55
1.55
1.55
1.55
1.55
1.55
1.55
1.55
1.55
1.55
1.55

Adj. Close
1,375
1,350
1,200
1,150
1,025
1,050
1,100
1,170
1,075
980
1,050
1,000
925
900
900
800
800
925
975
1,075
1,025
950
900
750
775
975
1,025
1,050
1,325
1,175
1,175
891
814
674
643
674
930
1,163
1,279
1,163
1,124
1,318
1,240
1,318
1,356
1,705
1,821
1,976

Arithmetic Average
0.0209
0.0111
Return
-0.0182
-0.1111
-0.0417
-0.1087
0.0244
0.0476
0.0636
-0.0812
-0.0884
0.0714
-0.0476
-0.0750
-0.0270
0.0000
-0.1111
0.0000
0.1563
0.0541
0.1026
-0.0465
-0.0732
-0.0526
-0.1667
0.0333
0.2581
0.0513
0.0244
0.2619
-0.1132
0.0000
-0.2415
-0.0870
-0.1714
-0.0460
0.0482
0.3793
0.2500
0.1000
-0.0909
-0.0333
0.1724
-0.0588
0.0625
0.0294
0.2571
0.0682
0.0851

Geometric Average
0.0114
0.0015

Ex. Return 1 + Return 1 + Ex. Rt JCI Return

-0.0275
-0.1199
-0.0503
-0.1173
0.0159
0.0389
0.0540
-0.0918
-0.0990
0.0607
-0.0584
-0.0861
-0.0385
-0.0116
-0.1227
-0.0123
0.1436
0.0412
0.0894
-0.0600
-0.0871
-0.0665
-0.1805
0.0195
0.2442
0.0379
0.0111
0.2487
-0.1263
-0.0122
-0.2534
-0.0987
-0.1827
-0.0564
0.0379
0.3690
0.2398
0.0900
-0.1005
-0.0423
0.1637
-0.0670
0.0550
0.0223
0.2502
0.0614
0.0785

0.9818
0.8889
0.9583
0.8913
1.0244
1.0476
1.0636
0.9188
0.9116
1.0714
0.9524
0.9250
0.9730
1.0000
0.8889
1.0000
1.1563
1.0541
1.1026
0.9535
0.9268
0.9474
0.8333
1.0333
1.2581
1.0513
1.0244
1.2619
0.8868
1.0000
0.7585
0.9130
0.8286
0.9540
1.0482
1.3793
1.2500
1.1000
0.9091
0.9667
1.1724
0.9412
1.0625
1.0294
1.2571
1.0682
1.0851

0.9725
0.8801
0.9497
0.8827
1.0159
1.0389
1.0540
0.9082
0.9010
1.0607
0.9416
0.9139
0.9615
0.9884
0.8773
0.9877
1.1436
1.0412
1.0894
0.9400
0.9129
0.9335
0.8195
1.0195
1.2442
1.0379
1.0111
1.2487
0.8737
0.9878
0.7466
0.9013
0.8173
0.9436
1.0379
1.3690
1.2398
1.0900
0.8995
0.9577
1.1637
0.9330
1.0550
1.0223
1.2502
1.0614
1.0785

-0.0467
-0.0916
0.0124
-0.1143
-0.1331
0.1228
-0.0263
-0.0556
-0.1256
0.0098
0.0269
-0.0245
0.0259
0.0063
-0.1240
-0.0586
0.1578
0.0665
0.0264
-0.0219
-0.0841
-0.0431
-0.0022
-0.0129
0.1758
0.0227
0.0589
0.1308
-0.0433
-0.0330
-0.0791
-0.0446
-0.0775
-0.1163
0.0607
0.1094
-0.0786
0.0153
0.0088
0.1242
0.0931
0.0151
0.0159
0.0445
0.1408
0.0313
0.0086

30-Dec-03
28-Jan-04
25-Feb-04
31-Mar-04
28-Apr-04
26-May-04
30-Jun-04
28-Jul-04
25-Aug-04
29-Sep-04
27-Oct-04
24-Nov-04
29-Dec-04

1,925
1,600
1,625
1,225
1,300
1,025
1,250
1,200
1,175
1,300
1,500
1,700
1,750

1.55
1.55
1.55
1.55
1.55
1.55
1.55
1.55
1.55
1.55
1.55
1.55
1.55

2,984
2,480
2,519
1,899
2,015
1,589
1,938
1,860
1,821
2,015
2,325
2,635
2,713

0.5098
-0.1688
0.0156
-0.2462
0.0612
-0.2115
0.2195
-0.0400
-0.0208
0.1064
0.1538
0.1333
0.0294

0.5032
-0.1753
0.0095
-0.2520
0.0554
-0.2173
0.2138
-0.0457
-0.0266
0.1006
0.1481
0.1275
0.0236

1.5098
0.8312
1.0156
0.7538
1.0612
0.7885
1.2195
0.9600
0.9792
1.1064
1.1538
1.1333
1.0294

1.5032
0.8247
1.0095
0.7480
1.0554
0.7827
1.2138
0.9543
0.9734
1.1006
1.1481
1.1275
1.0236

0.0984
0.1087
0.0130
-0.0532
0.1118
-0.1222
0.0200
0.0380
-0.0375
0.1109
0.0446
0.1321
0.0448

JCI Excess
Return
-0.0560
-0.1004
0.0038
-0.1228
-0.1416
0.1141
-0.0360
-0.0663
-0.1363
-0.0009
0.0161
-0.0357
0.0145
-0.0053
-0.1357
-0.0709
0.1452
0.0536
0.0132
-0.0354
-0.0980
-0.0570
-0.0160
-0.0268
0.1619
0.0093
0.0456
0.1176
-0.0564
-0.0452
-0.0910
-0.0564
-0.0888
-0.1267
0.0504
0.0991
-0.0888
0.0054
-0.0008
0.1153
0.0844
0.0070
0.0084
0.0374
0.1339
0.0245
0.0020

0.0917
0.1022
0.0068
-0.0591
0.1060
-0.1279
0.0143
0.0322
-0.0432
0.1052
0.0389
0.1263
0.0390

TINS
Date
29-Dec-99
26-Jan-00
23-Feb-00
29-Mar-00
26-Apr-00
31-May-00
28-Jun-00
26-Jul-00
30-Aug-00
27-Sep-00
26-Oct-00
29-Nov-00
20-Dec-00
31-Jan-01
28-Feb-01
28-Mar-01
25-Apr-01
30-May-01
27-Jun-01
25-Jul-01
29-Aug-01
26-Sep-01
31-Oct-01
28-Nov-01
26-Dec-01
30-Jan-02
27-Feb-02
27-Mar-02
24-Apr-02
29-May-02
26-Jun-02
31-Jul-02
28-Aug-02
25-Sep-02
30-Oct-02
27-Nov-02
27-Dec-02
29-Jan-03
26-Feb-03
26-Mar-03
30-Apr-03
28-May-03
25-Jun-03
30-Jul-03
27-Aug-03
24-Sep-03
29-Oct-03
1-Dec-03

Closing Price
4,900
4,100
3,450
3,125
3,100
2,400
2,600
2,590
2,205
1,635
1,525
1,475
1,400
1,600
1,775
1,500
1,375
1,700
1,550
1,700
1,475
1,175
1,000
465
400
725
800
650
700
575
600
470
425
350
315
300
345
460
725
625
700
725
700
800
950
1,150
1,650
1,650

Adj.

Adj. Close
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

4,900
4,100
3,450
3,125
3,100
2,400
2,600
2,590
2,205
1,635
1,525
1,475
1,400
1,600
1,775
1,500
1,375
1,700
1,550
1,700
1,475
1,175
1,000
465
400
725
800
650
700
575
600
470
425
350
315
300
345
460
725
625
700
725
700
800
950
1,150
1,650
1,650

Arithmetic Average
0.0070
-0.0027
Return
-0.1633
-0.1585
-0.0942
-0.0080
-0.2258
0.0833
-0.0038
-0.1486
-0.2585
-0.0673
-0.0328
-0.0508
0.1429
0.1094
-0.1549
-0.0833
0.2364
-0.0882
0.0968
-0.1324
-0.2034
-0.1489
-0.5350
-0.1398
0.8125
0.1034
-0.1875
0.0769
-0.1786
0.0435
-0.2167
-0.0957
-0.1765
-0.1000
-0.0476
0.1500
0.3333
0.5761
-0.1379
0.1200
0.0357
-0.0345
0.1429
0.1875
0.2105
0.4348
0.0000

Geometric Average
-0.0144
-0.0245

Ex. Return 1 + Return 1 + Ex. Rt JCI Return

-0.1726
-0.1673
-0.1028
-0.0166
-0.2343
0.0746
-0.0135
-0.1593
-0.2691
-0.0780
-0.0436
-0.0620
0.1314
0.0978
-0.1666
-0.0956
0.2237
-0.1011
0.0837
-0.1459
-0.2173
-0.1628
-0.5489
-0.1537
0.7986
0.0901
-0.2008
0.0637
-0.1917
0.0313
-0.2286
-0.1075
-0.1878
-0.1104
-0.0579
0.1397
0.3231
0.5661
-0.1475
0.1111
0.0270
-0.0427
0.1354
0.1804
0.2035
0.4280
-0.0066

0.8367
0.8415
0.9058
0.9920
0.7742
1.0833
0.9962
0.8514
0.7415
0.9327
0.9672
0.9492
1.1429
1.1094
0.8451
0.9167
1.2364
0.9118
1.0968
0.8676
0.7966
0.8511
0.4650
0.8602
1.8125
1.1034
0.8125
1.0769
0.8214
1.0435
0.7833
0.9043
0.8235
0.9000
0.9524
1.1500
1.3333
1.5761
0.8621
1.1200
1.0357
0.9655
1.1429
1.1875
1.2105
1.4348
1.0000

0.8274
0.8327
0.8972
0.9834
0.7657
1.0746
0.9865
0.8407
0.7309
0.9220
0.9564
0.9380
1.1314
1.0978
0.8334
0.9044
1.2237
0.8989
1.0837
0.8541
0.7827
0.8372
0.4511
0.8463
1.7986
1.0901
0.7992
1.0637
0.8083
1.0313
0.7714
0.8925
0.8122
0.8896
0.9421
1.1397
1.3231
1.5661
0.8525
1.1111
1.0270
0.9573
1.1354
1.1804
1.2035
1.4280
0.9934

-0.0467
-0.0916
0.0124
-0.1143
-0.1331
0.1228
-0.0263
-0.0556
-0.1256
0.0098
0.0269
-0.0245
0.0259
0.0063
-0.1240
-0.0586
0.1578
0.0665
0.0264
-0.0219
-0.0841
-0.0431
-0.0022
-0.0129
0.1758
0.0227
0.0589
0.1308
-0.0433
-0.0330
-0.0791
-0.0446
-0.0775
-0.1163
0.0607
0.1094
-0.0786
0.0153
0.0088
0.1242
0.0931
0.0151
0.0159
0.0445
0.1408
0.0313
0.0086

30-Dec-03
28-Jan-04
25-Feb-04
31-Mar-04
28-Apr-04
26-May-04
30-Jun-04
28-Jul-04
25-Aug-04
29-Sep-04
27-Oct-04
24-Nov-04
29-Dec-04

2,550
2,325
2,375
2,350
2,475
1,825
1,700
2,000
1,900
2,000
2,100
2,175
2,050

1
1
1
1
1
1
1
1
1
1
1
1
1

2,550
2,325
2,375
2,350
2,475
1,825
1,700
2,000
1,900
2,000
2,100
2,175
2,050

0.5455
-0.0882
0.0215
-0.0105
0.0532
-0.2626
-0.0685
0.1765
-0.0500
0.0526
0.0500
0.0357
-0.0575

0.5388
-0.0947
0.0154
-0.0164
0.0474
-0.2684
-0.0742
0.1707
-0.0558
0.0469
0.0442
0.0299
-0.0633

1.5455
0.9118
1.0215
0.9895
1.0532
0.7374
0.9315
1.1765
0.9500
1.0526
1.0500
1.0357
0.9425

1.5388
0.9053
1.0154
0.9836
1.0474
0.7316
0.9258
1.1707
0.9442
1.0469
1.0442
1.0299
0.9367

0.0984
0.1087
0.0130
-0.0532
0.1118
-0.1222
0.0200
0.0380
-0.0375
0.1109
0.0446
0.1321
0.0448

JCI Excess
Return
-0.0560
-0.1004
0.0038
-0.1228
-0.1416
0.1141
-0.0360
-0.0663
-0.1363
-0.0009
0.0161
-0.0357
0.0145
-0.0053
-0.1357
-0.0709
0.1452
0.0536
0.0132
-0.0354
-0.0980
-0.0570
-0.0160
-0.0268
0.1619
0.0093
0.0456
0.1176
-0.0564
-0.0452
-0.0910
-0.0564
-0.0888
-0.1267
0.0504
0.0991
-0.0888
0.0054
-0.0008
0.1153
0.0844
0.0070
0.0084
0.0374
0.1339
0.0245
0.0020

0.0917
0.1022
0.0068
-0.0591
0.1060
-0.1279
0.0143
0.0322
-0.0432
0.1052
0.0389
0.1263
0.0390

INTP
Date
29-Dec-99
26-Jan-00
23-Feb-00
29-Mar-00
26-Apr-00
31-May-00
28-Jun-00
26-Jul-00
30-Aug-00
27-Sep-00
26-Oct-00
29-Nov-00
20-Dec-00
31-Jan-01
28-Feb-01
28-Mar-01
25-Apr-01
30-May-01
27-Jun-01
25-Jul-01
29-Aug-01
26-Sep-01
31-Oct-01
28-Nov-01
26-Dec-01
30-Jan-02
27-Feb-02
27-Mar-02
24-Apr-02
29-May-02
26-Jun-02
31-Jul-02
28-Aug-02
25-Sep-02
30-Oct-02
27-Nov-02
27-Dec-02
29-Jan-03
26-Feb-03
26-Mar-03
30-Apr-03
28-May-03
25-Jun-03
30-Jul-03
27-Aug-03
24-Sep-03
29-Oct-03
1-Dec-03

Closing Price
3,100
3,025
2,800
2,925
3,100
3,300
3,275
2,900
2,625
1,475
1,650
1,525
1,600
1,500
1,175
1,175
1,075
1,250
1,350
1,350
1,275
1,000
925
725
700
825
850
850
925
800
1,175
1,000
975
875
625
700
675
650
875
875
1,025
1,050
1,250
1,700
1,650
1,750
1,900
1,900

Adj.

Adj. Close
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

3,100
3,025
2,800
2,925
3,100
3,300
3,275
2,900
2,625
1,475
1,650
1,525
1,600
1,500
1,175
1,175
1,075
1,250
1,350
1,350
1,275
1,000
925
725
700
825
850
850
925
800
1,175
1,000
975
875
625
700
675
650
875
875
1,025
1,050
1,250
1,700
1,650
1,750
1,900
1,900

Arithmetic Average
0.0136
0.0039
Return
-0.0242
-0.0744
0.0446
0.0598
0.0645
-0.0076
-0.1145
-0.0948
-0.4381
0.1186
-0.0758
0.0492
-0.0625
-0.2167
0.0000
-0.0851
0.1628
0.0800
0.0000
-0.0556
-0.2157
-0.0750
-0.2162
-0.0345
0.1786
0.0303
0.0000
0.0882
-0.1351
0.4688
-0.1489
-0.0250
-0.1026
-0.2857
0.1200
-0.0357
-0.0370
0.3462
0.0000
0.1714
0.0244
0.1905
0.3600
-0.0294
0.0606
0.0857
0.0000

Geometric Average
-0.0007
-0.0107

Ex. Return 1 + Return 1 + Ex. Rt JCI Return

-0.0336
-0.0831
0.0360
0.0513
0.0560
-0.0163
-0.1242
-0.1055
-0.4487
0.1079
-0.0866
0.0381
-0.0739
-0.2283
-0.0116
-0.0974
0.1501
0.0671
-0.0131
-0.0691
-0.2296
-0.0889
-0.2301
-0.0484
0.1647
0.0170
-0.0133
0.0750
-0.1482
0.4565
-0.1608
-0.0367
-0.1139
-0.2961
0.1097
-0.0460
-0.0472
0.3362
-0.0096
0.1625
0.0157
0.1823
0.3525
-0.0365
0.0536
0.0789
-0.0066

0.9758
0.9256
1.0446
1.0598
1.0645
0.9924
0.8855
0.9052
0.5619
1.1186
0.9242
1.0492
0.9375
0.7833
1.0000
0.9149
1.1628
1.0800
1.0000
0.9444
0.7843
0.9250
0.7838
0.9655
1.1786
1.0303
1.0000
1.0882
0.8649
1.4688
0.8511
0.9750
0.8974
0.7143
1.1200
0.9643
0.9630
1.3462
1.0000
1.1714
1.0244
1.1905
1.3600
0.9706
1.0606
1.0857
1.0000

0.9664
0.9169
1.0360
1.0513
1.0560
0.9837
0.8758
0.8945
0.5513
1.1079
0.9134
1.0381
0.9261
0.7717
0.9884
0.9026
1.1501
1.0671
0.9869
0.9309
0.7704
0.9111
0.7699
0.9516
1.1647
1.0170
0.9867
1.0750
0.8518
1.4565
0.8392
0.9633
0.8861
0.7039
1.1097
0.9540
0.9528
1.3362
0.9904
1.1625
1.0157
1.1823
1.3525
0.9635
1.0536
1.0789
0.9934

-0.0467
-0.0916
0.0124
-0.1143
-0.1331
0.1228
-0.0263
-0.0556
-0.1256
0.0098
0.0269
-0.0245
0.0259
0.0063
-0.1240
-0.0586
0.1578
0.0665
0.0264
-0.0219
-0.0841
-0.0431
-0.0022
-0.0129
0.1758
0.0227
0.0589
0.1308
-0.0433
-0.0330
-0.0791
-0.0446
-0.0775
-0.1163
0.0607
0.1094
-0.0786
0.0153
0.0088
0.1242
0.0931
0.0151
0.0159
0.0445
0.1408
0.0313
0.0086

30-Dec-03
28-Jan-04
25-Feb-04
31-Mar-04
28-Apr-04
26-May-04
30-Jun-04
28-Jul-04
25-Aug-04
29-Sep-04
27-Oct-04
24-Nov-04
29-Dec-04

2,125
2,450
2,525
1,900
1,975
1,400
1,425
1,750
1,475
1,950
1,900
2,625
2,975

1
1
1
1
1
1
1
1
1
1
1
1
1

2,125
2,450
2,525
1,900
1,975
1,400
1,425
1,750
1,475
1,950
1,900
2,625
2,975

0.1184
0.1529
0.0306
-0.2475
0.0395
-0.2911
0.0179
0.2281
-0.1571
0.3220
-0.0256
0.3816
0.1333

0.1118
0.1464
0.0245
-0.2534
0.0337
-0.2969
0.0121
0.2223
-0.1629
0.3163
-0.0314
0.3758
0.1275

1.1184
1.1529
1.0306
0.7525
1.0395
0.7089
1.0179
1.2281
0.8429
1.3220
0.9744
1.3816
1.1333

1.1118
1.1464
1.0245
0.7466
1.0337
0.7031
1.0121
1.2223
0.8371
1.3163
0.9686
1.3758
1.1275

0.0984
0.1087
0.0130
-0.0532
0.1118
-0.1222
0.0200
0.0380
-0.0375
0.1109
0.0446
0.1321
0.0448

JCI Excess
Return
-0.0560
-0.1004
0.0038
-0.1228
-0.1416
0.1141
-0.0360
-0.0663
-0.1363
-0.0009
0.0161
-0.0357
0.0145
-0.0053
-0.1357
-0.0709
0.1452
0.0536
0.0132
-0.0354
-0.0980
-0.0570
-0.0160
-0.0268
0.1619
0.0093
0.0456
0.1176
-0.0564
-0.0452
-0.0910
-0.0564
-0.0888
-0.1267
0.0504
0.0991
-0.0888
0.0054
-0.0008
0.1153
0.0844
0.0070
0.0084
0.0374
0.1339
0.0245
0.0020

0.0917
0.1022
0.0068
-0.0591
0.1060
-0.1279
0.0143
0.0322
-0.0432
0.1052
0.0389
0.1263
0.0390

SMCB
Date
29-Dec-99
26-Jan-00
23-Feb-00
29-Mar-00
26-Apr-00
31-May-00
28-Jun-00
26-Jul-00
30-Aug-00
27-Sep-00
26-Oct-00
29-Nov-00
20-Dec-00
31-Jan-01
28-Feb-01
28-Mar-01
25-Apr-01
30-May-01
27-Jun-01
25-Jul-01
29-Aug-01
26-Sep-01
31-Oct-01
28-Nov-01
26-Dec-01
30-Jan-02
27-Feb-02
27-Mar-02
24-Apr-02
29-May-02
26-Jun-02
31-Jul-02
28-Aug-02
25-Sep-02
30-Oct-02
27-Nov-02
27-Dec-02
29-Jan-03
26-Feb-03
26-Mar-03
30-Apr-03
28-May-03
25-Jun-03
30-Jul-03
27-Aug-03
24-Sep-03
29-Oct-03
1-Dec-03

Closing Price
525
500
500
500
375
275
525
460
405
380
450
425
445
505
485
405
355
385
385
385
385
385
385
385
385
300
270
320
340
290
300
250
235
190
135
150
145
140
160
155
230
245
265
345
440
435
350
355

Adj.

Adj. Close
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

525
500
500
500
375
275
525
460
405
380
450
425
445
505
485
405
355
385
385
385
385
385
385
385
385
300
270
320
340
290
300
250
235
190
135
150
145
140
160
155
230
245
265
345
440
435
350
355

Arithmetic Average
0.0159
0.0062
Return
-0.0476
0.0000
0.0000
-0.2500
-0.2667
0.9091
-0.1238
-0.1196
-0.0617
0.1842
-0.0556
0.0471
0.1348
-0.0396
-0.1649
-0.1235
0.0845
0.0000
0.0000
0.0000
0.0000
0.0000
0.0000
0.0000
-0.2208
-0.1000
0.1852
0.0625
-0.1471
0.0345
-0.1667
-0.0600
-0.1915
-0.2895
0.1111
-0.0333
-0.0345
0.1429
-0.0313
0.4839
0.0652
0.0816
0.3019
0.2754
-0.0114
-0.1954
0.0143

Geometric Average
0.0008
-0.0092

Ex. Return 1 + Return 1 + Ex. Rt JCI Return

-0.0570
-0.0088
-0.0086
-0.2586
-0.2752
0.9004
-0.1335
-0.1302
-0.0724
0.1735
-0.0664
0.0359
0.1234
-0.0512
-0.1766
-0.1357
0.0718
-0.0129
-0.0131
-0.0135
-0.0139
-0.0139
-0.0139
-0.0139
-0.2347
-0.1133
0.1719
0.0493
-0.1601
0.0223
-0.1786
-0.0717
-0.2028
-0.2999
0.1008
-0.0436
-0.0447
0.1329
-0.0409
0.4749
0.0565
0.0734
0.2944
0.2682
-0.0183
-0.2022
0.0076

0.9524
1.0000
1.0000
0.7500
0.7333
1.9091
0.8762
0.8804
0.9383
1.1842
0.9444
1.0471
1.1348
0.9604
0.8351
0.8765
1.0845
1.0000
1.0000
1.0000
1.0000
1.0000
1.0000
1.0000
0.7792
0.9000
1.1852
1.0625
0.8529
1.0345
0.8333
0.9400
0.8085
0.7105
1.1111
0.9667
0.9655
1.1429
0.9688
1.4839
1.0652
1.0816
1.3019
1.2754
0.9886
0.8046
1.0143

0.9430
0.9912
0.9914
0.7414
0.7248
1.9004
0.8665
0.8698
0.9276
1.1735
0.9336
1.0359
1.1234
0.9488
0.8234
0.8643
1.0718
0.9871
0.9869
0.9865
0.9861
0.9861
0.9861
0.9861
0.7653
0.8867
1.1719
1.0493
0.8399
1.0223
0.8214
0.9283
0.7972
0.7001
1.1008
0.9564
0.9553
1.1329
0.9591
1.4749
1.0565
1.0734
1.2944
1.2682
0.9817
0.7978
1.0076

-0.0467
-0.0916
0.0124
-0.1143
-0.1331
0.1228
-0.0263
-0.0556
-0.1256
0.0098
0.0269
-0.0245
0.0259
0.0063
-0.1240
-0.0586
0.1578
0.0665
0.0264
-0.0219
-0.0841
-0.0431
-0.0022
-0.0129
0.1758
0.0227
0.0589
0.1308
-0.0433
-0.0330
-0.0791
-0.0446
-0.0775
-0.1163
0.0607
0.1094
-0.0786
0.0153
0.0088
0.1242
0.0931
0.0151
0.0159
0.0445
0.1408
0.0313
0.0086

30-Dec-03
28-Jan-04
25-Feb-04
31-Mar-04
28-Apr-04
26-May-04
30-Jun-04
28-Jul-04
25-Aug-04
29-Sep-04
27-Oct-04
24-Nov-04
29-Dec-04

405
405
425
375
395
295
280
310
285
365
410
480
550

1
1
1
1
1
1
1
1
1
1
1
1
1

405
405
425
375
395
295
280
310
285
365
410
480
550

0.1408
0.0000
0.0494
-0.1176
0.0533
-0.2532
-0.0508
0.1071
-0.0806
0.2807
0.1233
0.1707
0.1458

0.1342
-0.0065
0.0432
-0.1235
0.0475
-0.2589
-0.0566
0.1014
-0.0864
0.2749
0.1175
0.1649
0.1400

1.1408
1.0000
1.0494
0.8824
1.0533
0.7468
0.9492
1.1071
0.9194
1.2807
1.1233
1.1707
1.1458

1.1342
0.9935
1.0432
0.8765
1.0475
0.7411
0.9434
1.1014
0.9136
1.2749
1.1175
1.1649
1.1400

0.0984
0.1087
0.0130
-0.0532
0.1118
-0.1222
0.0200
0.0380
-0.0375
0.1109
0.0446
0.1321
0.0448

JCI Excess
Return
-0.0560
-0.1004
0.0038
-0.1228
-0.1416
0.1141
-0.0360
-0.0663
-0.1363
-0.0009
0.0161
-0.0357
0.0145
-0.0053
-0.1357
-0.0709
0.1452
0.0536
0.0132
-0.0354
-0.0980
-0.0570
-0.0160
-0.0268
0.1619
0.0093
0.0456
0.1176
-0.0564
-0.0452
-0.0910
-0.0564
-0.0888
-0.1267
0.0504
0.0991
-0.0888
0.0054
-0.0008
0.1153
0.0844
0.0070
0.0084
0.0374
0.1339
0.0245
0.0020

0.0917
0.1022
0.0068
-0.0591
0.1060
-0.1279
0.0143
0.0322
-0.0432
0.1052
0.0389
0.1263
0.0390

INKP
Date
29-Dec-99
26-Jan-00
23-Feb-00
29-Mar-00
26-Apr-00
31-May-00
28-Jun-00
26-Jul-00
30-Aug-00
27-Sep-00
26-Oct-00
29-Nov-00
20-Dec-00
31-Jan-01
28-Feb-01
28-Mar-01
25-Apr-01
30-May-01
27-Jun-01
25-Jul-01
29-Aug-01
26-Sep-01
31-Oct-01
28-Nov-01
26-Dec-01
30-Jan-02
27-Feb-02
27-Mar-02
24-Apr-02
29-May-02
26-Jun-02
31-Jul-02
28-Aug-02
25-Sep-02
30-Oct-02
27-Nov-02
27-Dec-02
29-Jan-03
26-Feb-03
26-Mar-03
30-Apr-03
28-May-03
25-Jun-03
30-Jul-03
27-Aug-03
24-Sep-03
29-Oct-03
1-Dec-03

Closing Price
2,700
2,550
2,375
2,575
2,300
1,400
1,750
1,635
1,395
1,120
1,025
850
875
775
455
290
240
360
370
315
315
315
315
315
315
315
315
255
280
215
230
155
155
155
125
135
145
145
165
220
380
430
430
380
450
460
650
515

Adj.

Adj. Close
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

2,700
2,550
2,375
2,575
2,300
1,400
1,750
1,635
1,395
1,120
1,025
850
875
775
455
290
240
360
370
315
315
315
315
315
315
315
315
255
280
215
230
155
155
155
125
135
145
145
165
220
380
430
430
380
450
460
650
515

Arithmetic Average
0.0044
-0.0053
Return
-0.0556
-0.0686
0.0842
-0.1068
-0.3913
0.2500
-0.0657
-0.1468
-0.1971
-0.0848
-0.1707
0.0294
-0.1143
-0.4129
-0.3626
-0.1724
0.5000
0.0278
-0.1486
0.0000
0.0000
0.0000
0.0000
0.0000
0.0000
0.0000
-0.1905
0.0980
-0.2321
0.0698
-0.3261
0.0000
0.0000
-0.1935
0.0800
0.0741
0.0000
0.1379
0.3333
0.7273
0.1316
0.0000
-0.1163
0.1842
0.0222
0.4130
-0.2077

Geometric Average
-0.0156
-0.0257

Ex. Return 1 + Return 1 + Ex. Rt JCI Return

-0.0649
-0.0774
0.0756
-0.1154
-0.3998
0.2413
-0.0754
-0.1574
-0.2078
-0.0955
-0.1815
0.0183
-0.1257
-0.4245
-0.3743
-0.1847
0.4873
0.0149
-0.1618
-0.0135
-0.0139
-0.0139
-0.0139
-0.0139
-0.0139
-0.0133
-0.2038
0.0848
-0.2452
0.0576
-0.3380
-0.0117
-0.0113
-0.2039
0.0697
0.0638
-0.0102
0.1280
0.3237
0.7183
0.1229
-0.0082
-0.1237
0.1771
0.0152
0.4063
-0.2143

0.9444
0.9314
1.0842
0.8932
0.6087
1.2500
0.9343
0.8532
0.8029
0.9152
0.8293
1.0294
0.8857
0.5871
0.6374
0.8276
1.5000
1.0278
0.8514
1.0000
1.0000
1.0000
1.0000
1.0000
1.0000
1.0000
0.8095
1.0980
0.7679
1.0698
0.6739
1.0000
1.0000
0.8065
1.0800
1.0741
1.0000
1.1379
1.3333
1.7273
1.1316
1.0000
0.8837
1.1842
1.0222
1.4130
0.7923

0.9351
0.9226
1.0756
0.8846
0.6002
1.2413
0.9246
0.8426
0.7922
0.9045
0.8185
1.0183
0.8743
0.5755
0.6257
0.8153
1.4873
1.0149
0.8382
0.9865
0.9861
0.9861
0.9861
0.9861
0.9861
0.9867
0.7962
1.0848
0.7548
1.0576
0.6620
0.9883
0.9887
0.7961
1.0697
1.0638
0.9898
1.1280
1.3237
1.7183
1.1229
0.9918
0.8763
1.1771
1.0152
1.4063
0.7857

-0.0467
-0.0916
0.0124
-0.1143
-0.1331
0.1228
-0.0263
-0.0556
-0.1256
0.0098
0.0269
-0.0245
0.0259
0.0063
-0.1240
-0.0586
0.1578
0.0665
0.0264
-0.0219
-0.0841
-0.0431
-0.0022
-0.0129
0.1758
0.0227
0.0589
0.1308
-0.0433
-0.0330
-0.0791
-0.0446
-0.0775
-0.1163
0.0607
0.1094
-0.0786
0.0153
0.0088
0.1242
0.0931
0.0151
0.0159
0.0445
0.1408
0.0313
0.0086

30-Dec-03
28-Jan-04
25-Feb-04
31-Mar-04
28-Apr-04
26-May-04
30-Jun-04
28-Jul-04
25-Aug-04
29-Sep-04
27-Oct-04
24-Nov-04
29-Dec-04

575
675
800
750
825
575
600
725
700
850
850
925
1,050

1
1
1
1
1
1
1
1
1
1
1
1
1

575
675
800
750
825
575
600
725
700
850
850
925
1,050

0.1165
0.1739
0.1852
-0.0625
0.1000
-0.3030
0.0435
0.2083
-0.0345
0.2143
0.0000
0.0882
0.1351

0.1099
0.1674
0.1790
-0.0684
0.0942
-0.3088
0.0378
0.2026
-0.0402
0.2085
-0.0058
0.0824
0.1293

1.1165
1.1739
1.1852
0.9375
1.1000
0.6970
1.0435
1.2083
0.9655
1.2143
1.0000
1.0882
1.1351

1.1099
1.1674
1.1790
0.9316
1.0942
0.6912
1.0378
1.2026
0.9598
1.2085
0.9942
1.0824
1.1293

0.0984
0.1087
0.0130
-0.0532
0.1118
-0.1222
0.0200
0.0380
-0.0375
0.1109
0.0446
0.1321
0.0448

JCI Excess
Return
-0.0560
-0.1004
0.0038
-0.1228
-0.1416
0.1141
-0.0360
-0.0663
-0.1363
-0.0009
0.0161
-0.0357
0.0145
-0.0053
-0.1357
-0.0709
0.1452
0.0536
0.0132
-0.0354
-0.0980
-0.0570
-0.0160
-0.0268
0.1619
0.0093
0.0456
0.1176
-0.0564
-0.0452
-0.0910
-0.0564
-0.0888
-0.1267
0.0504
0.0991
-0.0888
0.0054
-0.0008
0.1153
0.0844
0.0070
0.0084
0.0374
0.1339
0.0245
0.0020

0.0917
0.1022
0.0068
-0.0591
0.1060
-0.1279
0.0143
0.0322
-0.0432
0.1052
0.0389
0.1263
0.0390

ASII
Date
29-Dec-99
26-Jan-00
23-Feb-00
29-Mar-00
26-Apr-00
31-May-00
28-Jun-00
26-Jul-00
30-Aug-00
27-Sep-00
26-Oct-00
29-Nov-00
20-Dec-00
31-Jan-01
28-Feb-01
28-Mar-01
25-Apr-01
30-May-01
27-Jun-01
25-Jul-01
29-Aug-01
26-Sep-01
31-Oct-01
28-Nov-01
26-Dec-01
30-Jan-02
27-Feb-02
27-Mar-02
24-Apr-02
29-May-02
26-Jun-02
31-Jul-02
28-Aug-02
25-Sep-02
30-Oct-02
27-Nov-02
27-Dec-02
29-Jan-03
26-Feb-03
26-Mar-03
30-Apr-03
28-May-03
25-Jun-03
30-Jul-03
27-Aug-03
24-Sep-03
29-Oct-03
1-Dec-03

Closing Price
3,725
3,475
3,725
3,675
3,250
2,500
2,725
2,540
2,655
2,290
2,250
2,275
2,025
2,125
2,050
1,400
1,275
1,725
1,825
2,500
2,325
2,050
1,775
2,025
1,900
2,525
2,875
2,600
3,900
4,275
4,225
3,725
3,175
2,625
2,075
2,450
3,150
2,100
2,250
2,475
3,025
3,625
3,500
3,825
3,800
4,375
4,375
4,525

Adj.

Adj. Close
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

3,725
3,475
3,725
3,675
3,250
2,500
2,725
2,540
2,655
2,290
2,250
2,275
2,025
2,125
2,050
1,400
1,275
1,725
1,825
2,500
2,325
2,050
1,775
2,025
1,900
2,525
2,875
2,600
3,900
4,275
4,225
3,725
3,175
2,625
2,075
2,450
3,150
2,100
2,250
2,475
3,025
3,625
3,500
3,825
3,800
4,375
4,375
4,525

Arithmetic Average
0.0283
0.0186
Return
-0.0671
0.0719
-0.0134
-0.1156
-0.2308
0.0900
-0.0679
0.0453
-0.1375
-0.0175
0.0111
-0.1099
0.0494
-0.0353
-0.3171
-0.0893
0.3529
0.0580
0.3699
-0.0700
-0.1183
-0.1341
0.1408
-0.0617
0.3289
0.1386
-0.0957
0.5000
0.0962
-0.0117
-0.1183
-0.1477
-0.1732
-0.2095
0.1807
0.2857
-0.3333
0.0714
0.1000
0.2222
0.1983
-0.0345
0.0929
-0.0065
0.1513
0.0000
0.0343

Geometric Average
0.0162
0.0063

Ex. Return 1 + Return 1 + Ex. Rt JCI Return

-0.0765
0.0632
-0.0221
-0.1242
-0.2393
0.0813
-0.0776
0.0346
-0.1481
-0.0282
0.0003
-0.1210
0.0380
-0.0469
-0.3287
-0.1016
0.3403
0.0451
0.3567
-0.0835
-0.1322
-0.1480
0.1270
-0.0756
0.3151
0.1253
-0.1089
0.4868
0.0831
-0.0239
-0.1302
-0.1594
-0.1845
-0.2199
0.1704
0.2755
-0.3435
0.0615
0.0904
0.2133
0.1897
-0.0427
0.0854
-0.0137
0.1443
-0.0068
0.0276

0.9329
1.0719
0.9866
0.8844
0.7692
1.0900
0.9321
1.0453
0.8625
0.9825
1.0111
0.8901
1.0494
0.9647
0.6829
0.9107
1.3529
1.0580
1.3699
0.9300
0.8817
0.8659
1.1408
0.9383
1.3289
1.1386
0.9043
1.5000
1.0962
0.9883
0.8817
0.8523
0.8268
0.7905
1.1807
1.2857
0.6667
1.0714
1.1000
1.2222
1.1983
0.9655
1.0929
0.9935
1.1513
1.0000
1.0343

0.9235
1.0632
0.9779
0.8758
0.7607
1.0813
0.9224
1.0346
0.8519
0.9718
1.0003
0.8790
1.0380
0.9531
0.6713
0.8984
1.3403
1.0451
1.3567
0.9165
0.8678
0.8520
1.1270
0.9244
1.3151
1.1253
0.8911
1.4868
1.0831
0.9761
0.8698
0.8406
0.8155
0.7801
1.1704
1.2755
0.6565
1.0615
1.0904
1.2133
1.1897
0.9573
1.0854
0.9863
1.1443
0.9932
1.0276

-0.0467
-0.0916
0.0124
-0.1143
-0.1331
0.1228
-0.0263
-0.0556
-0.1256
0.0098
0.0269
-0.0245
0.0259
0.0063
-0.1240
-0.0586
0.1578
0.0665
0.0264
-0.0219
-0.0841
-0.0431
-0.0022
-0.0129
0.1758
0.0227
0.0589
0.1308
-0.0433
-0.0330
-0.0791
-0.0446
-0.0775
-0.1163
0.0607
0.1094
-0.0786
0.0153
0.0088
0.1242
0.0931
0.0151
0.0159
0.0445
0.1408
0.0313
0.0086

30-Dec-03
28-Jan-04
25-Feb-04
31-Mar-04
28-Apr-04
26-May-04
30-Jun-04
28-Jul-04
25-Aug-04
29-Sep-04
27-Oct-04
24-Nov-04
29-Dec-04

5,000
5,350
5,400
5,350
6,100
5,650
5,500
5,650
5,800
6,750
7,700
8,800
9,750

1
1
1
1
1
1
1
1
1
1
1
1
1

5,000
5,350
5,400
5,350
6,100
5,650
5,500
5,650
5,800
6,750
7,700
8,800
9,750

0.1050
0.0700
0.0093
-0.0093
0.1402
-0.0738
-0.0265
0.0273
0.0265
0.1638
0.1407
0.1429
0.1080

0.0983
0.0635
0.0032
-0.0151
0.1344
-0.0795
-0.0323
0.0215
0.0208
0.1580
0.1350
0.1371
0.1022

1.1050
1.0700
1.0093
0.9907
1.1402
0.9262
0.9735
1.0273
1.0265
1.1638
1.1407
1.1429
1.1080

1.0983
1.0635
1.0032
0.9849
1.1344
0.9205
0.9677
1.0215
1.0208
1.1580
1.1350
1.1371
1.1022

0.0984
0.1087
0.0130
-0.0532
0.1118
-0.1222
0.0200
0.0380
-0.0375
0.1109
0.0446
0.1321
0.0448

JCI Excess
Return
-0.0560
-0.1004
0.0038
-0.1228
-0.1416
0.1141
-0.0360
-0.0663
-0.1363
-0.0009
0.0161
-0.0357
0.0145
-0.0053
-0.1357
-0.0709
0.1452
0.0536
0.0132
-0.0354
-0.0980
-0.0570
-0.0160
-0.0268
0.1619
0.0093
0.0456
0.1176
-0.0564
-0.0452
-0.0910
-0.0564
-0.0888
-0.1267
0.0504
0.0991
-0.0888
0.0054
-0.0008
0.1153
0.0844
0.0070
0.0084
0.0374
0.1339
0.0245
0.0020

0.0917
0.1022
0.0068
-0.0591
0.1060
-0.1279
0.0143
0.0322
-0.0432
0.1052
0.0389
0.1263
0.0390

GJTL
Date
29-Dec-99
26-Jan-00
23-Feb-00
29-Mar-00
26-Apr-00
31-May-00
28-Jun-00
26-Jul-00
30-Aug-00
27-Sep-00
26-Oct-00
29-Nov-00
20-Dec-00
31-Jan-01
28-Feb-01
28-Mar-01
25-Apr-01
30-May-01
27-Jun-01
25-Jul-01
29-Aug-01
26-Sep-01
31-Oct-01
28-Nov-01
26-Dec-01
30-Jan-02
27-Feb-02
27-Mar-02
24-Apr-02
29-May-02
26-Jun-02
31-Jul-02
28-Aug-02
25-Sep-02
30-Oct-02
27-Nov-02
27-Dec-02
29-Jan-03
26-Feb-03
26-Mar-03
30-Apr-03
28-May-03
25-Jun-03
30-Jul-03
27-Aug-03
24-Sep-03
29-Oct-03
1-Dec-03

Closing Price
975
950
850
900
675
450
575
500
470
350
345
380
355
360
345
270
210
245
260
280
275
215
185
130
135
160
165
175
330
230
270
255
225
230
210
220
230
215
210
220
300
320
375
445
525
650
550
510

Adj.

Adj. Close
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

975
950
850
900
675
450
575
500
470
350
345
380
355
360
345
270
210
245
260
280
275
215
185
130
135
160
165
175
330
230
270
255
225
230
210
220
230
215
210
220
300
320
375
445
525
650
550
510

Arithmetic Average
0.0093
-0.0005
Return
-0.0256
-0.1053
0.0588
-0.2500
-0.3333
0.2778
-0.1304
-0.0600
-0.2553
-0.0143
0.1014
-0.0658
0.0141
-0.0417
-0.2174
-0.2222
0.1667
0.0612
0.0769
-0.0179
-0.2182
-0.1395
-0.2973
0.0385
0.1852
0.0313
0.0606
0.8857
-0.3030
0.1739
-0.0556
-0.1176
0.0222
-0.0870
0.0476
0.0455
-0.0652
-0.0233
0.0476
0.3636
0.0667
0.1719
0.1867
0.1798
0.2381
-0.1538
-0.0727

Geometric Average
-0.0061
-0.0161

Ex. Return 1 + Return 1 + Ex. Rt JCI Return

-0.0350
-0.1140
0.0502
-0.2586
-0.3419
0.2691
-0.1401
-0.0706
-0.2660
-0.0250
0.0906
-0.0769
0.0027
-0.0533
-0.2290
-0.2345
0.1540
0.0484
0.0638
-0.0314
-0.2321
-0.1534
-0.3112
0.0246
0.1713
0.0179
0.0473
0.8725
-0.3161
0.1617
-0.0674
-0.1294
0.0109
-0.0973
0.0373
0.0352
-0.0754
-0.0332
0.0380
0.3547
0.0580
0.1637
0.1792
0.1726
0.2311
-0.1606
-0.0794

0.9744
0.8947
1.0588
0.7500
0.6667
1.2778
0.8696
0.9400
0.7447
0.9857
1.1014
0.9342
1.0141
0.9583
0.7826
0.7778
1.1667
1.0612
1.0769
0.9821
0.7818
0.8605
0.7027
1.0385
1.1852
1.0313
1.0606
1.8857
0.6970
1.1739
0.9444
0.8824
1.0222
0.9130
1.0476
1.0455
0.9348
0.9767
1.0476
1.3636
1.0667
1.1719
1.1867
1.1798
1.2381
0.8462
0.9273

0.9650
0.8860
1.0502
0.7414
0.6581
1.2691
0.8599
0.9294
0.7340
0.9750
1.0906
0.9231
1.0027
0.9467
0.7710
0.7655
1.1540
1.0484
1.0638
0.9686
0.7679
0.8466
0.6888
1.0246
1.1713
1.0179
1.0473
1.8725
0.6839
1.1617
0.9326
0.8706
1.0109
0.9027
1.0373
1.0352
0.9246
0.9668
1.0380
1.3547
1.0580
1.1637
1.1792
1.1726
1.2311
0.8394
0.9206

-0.0467
-0.0916
0.0124
-0.1143
-0.1331
0.1228
-0.0263
-0.0556
-0.1256
0.0098
0.0269
-0.0245
0.0259
0.0063
-0.1240
-0.0586
0.1578
0.0665
0.0264
-0.0219
-0.0841
-0.0431
-0.0022
-0.0129
0.1758
0.0227
0.0589
0.1308
-0.0433
-0.0330
-0.0791
-0.0446
-0.0775
-0.1163
0.0607
0.1094
-0.0786
0.0153
0.0088
0.1242
0.0931
0.0151
0.0159
0.0445
0.1408
0.0313
0.0086

30-Dec-03
28-Jan-04
25-Feb-04
31-Mar-04
28-Apr-04
26-May-04
30-Jun-04
28-Jul-04
25-Aug-04
29-Sep-04
27-Oct-04
24-Nov-04
29-Dec-04

550
600
600
575
625
525
490
525
500
525
550
625
675

1
1
1
1
1
1
1
1
1
1
1
1
1

550
600
600
575
625
525
490
525
500
525
550
625
675

0.0784
0.0909
0.0000
-0.0417
0.0870
-0.1600
-0.0667
0.0714
-0.0476
0.0500
0.0476
0.1364
0.0800

0.0718
0.0844
-0.0062
-0.0475
0.0812
-0.1657
-0.0724
0.0657
-0.0534
0.0442
0.0418
0.1306
0.0742

1.0784
1.0909
1.0000
0.9583
1.0870
0.8400
0.9333
1.0714
0.9524
1.0500
1.0476
1.1364
1.0800

1.0718
1.0844
0.9938
0.9525
1.0812
0.8343
0.9276
1.0657
0.9466
1.0442
1.0418
1.1306
1.0742

0.0984
0.1087
0.0130
-0.0532
0.1118
-0.1222
0.0200
0.0380
-0.0375
0.1109
0.0446
0.1321
0.0448

JCI Excess
Return
-0.0560
-0.1004
0.0038
-0.1228
-0.1416
0.1141
-0.0360
-0.0663
-0.1363
-0.0009
0.0161
-0.0357
0.0145
-0.0053
-0.1357
-0.0709
0.1452
0.0536
0.0132
-0.0354
-0.0980
-0.0570
-0.0160
-0.0268
0.1619
0.0093
0.0456
0.1176
-0.0564
-0.0452
-0.0910
-0.0564
-0.0888
-0.1267
0.0504
0.0991
-0.0888
0.0054
-0.0008
0.1153
0.0844
0.0070
0.0084
0.0374
0.1339
0.0245
0.0020

0.0917
0.1022
0.0068
-0.0591
0.1060
-0.1279
0.0143
0.0322
-0.0432
0.1052
0.0389
0.1263
0.0390

INDR
Date
29-Dec-99
26-Jan-00
23-Feb-00
29-Mar-00
26-Apr-00
31-May-00
28-Jun-00
26-Jul-00
30-Aug-00
27-Sep-00
26-Oct-00
29-Nov-00
20-Dec-00
31-Jan-01
28-Feb-01
28-Mar-01
25-Apr-01
30-May-01
27-Jun-01
25-Jul-01
29-Aug-01
26-Sep-01
31-Oct-01
28-Nov-01
26-Dec-01
30-Jan-02
27-Feb-02
27-Mar-02
24-Apr-02
29-May-02
26-Jun-02
31-Jul-02
28-Aug-02
25-Sep-02
30-Oct-02
27-Nov-02
27-Dec-02
29-Jan-03
26-Feb-03
26-Mar-03
30-Apr-03
28-May-03
25-Jun-03
30-Jul-03
27-Aug-03
24-Sep-03
29-Oct-03
1-Dec-03

Closing Price
1,625
1,500
1,250
1,025
925
800
825
835
830
740
850
775
750
725
600
500
415
600
675
700
625
500
480
445
420
500
550
725
875
775
550
500
500
475
415
410
450
410
400
385
455
485
405
395
415
480
480
510

Adj.

Adj. Close
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

1,625
1,500
1,250
1,025
925
800
825
835
830
740
850
775
750
725
600
500
415
600
675
700
625
500
480
445
420
500
550
725
875
775
550
500
500
475
415
410
450
410
400
385
455
485
405
395
415
480
480
510

Arithmetic Average
-0.0063
-0.0160
Return
-0.0769
-0.1667
-0.1800
-0.0976
-0.1351
0.0313
0.0121
-0.0060
-0.1084
0.1486
-0.0882
-0.0323
-0.0333
-0.1724
-0.1667
-0.1700
0.4458
0.1250
0.0370
-0.1071
-0.2000
-0.0400
-0.0729
-0.0562
0.1905
0.1000
0.3182
0.2069
-0.1143
-0.2903
-0.0909
0.0000
-0.0500
-0.1263
-0.0120
0.0976
-0.0889
-0.0244
-0.0375
0.1818
0.0659
-0.1649
-0.0247
0.0506
0.1566
0.0000
0.0625

Geometric Average
-0.0152
-0.0250

Ex. Return 1 + Return 1 + Ex. Rt JCI Return

-0.0863
-0.1754
-0.1886
-0.1061
-0.1437
0.0226
0.0024
-0.0166
-0.1191
0.1379
-0.0990
-0.0434
-0.0448
-0.1840
-0.1783
-0.1823
0.4331
0.1121
0.0239
-0.1207
-0.2139
-0.0539
-0.0868
-0.0701
0.1766
0.0867
0.3049
0.1937
-0.1274
-0.3025
-0.1028
-0.0117
-0.0613
-0.1367
-0.0223
0.0873
-0.0991
-0.0344
-0.0471
0.1729
0.0573
-0.1731
-0.0322
0.0435
0.1496
-0.0068
0.0559

0.9231
0.8333
0.8200
0.9024
0.8649
1.0313
1.0121
0.9940
0.8916
1.1486
0.9118
0.9677
0.9667
0.8276
0.8333
0.8300
1.4458
1.1250
1.0370
0.8929
0.8000
0.9600
0.9271
0.9438
1.1905
1.1000
1.3182
1.2069
0.8857
0.7097
0.9091
1.0000
0.9500
0.8737
0.9880
1.0976
0.9111
0.9756
0.9625
1.1818
1.0659
0.8351
0.9753
1.0506
1.1566
1.0000
1.0625

0.9137
0.8246
0.8114
0.8939
0.8563
1.0226
1.0024
0.9834
0.8809
1.1379
0.9010
0.9566
0.9552
0.8160
0.8217
0.8177
1.4331
1.1121
1.0239
0.8793
0.7861
0.9461
0.9132
0.9299
1.1766
1.0867
1.3049
1.1937
0.8726
0.6975
0.8972
0.9883
0.9387
0.8633
0.9777
1.0873
0.9009
0.9656
0.9529
1.1729
1.0573
0.8269
0.9678
1.0435
1.1496
0.9932
1.0559

-0.0467
-0.0916
0.0124
-0.1143
-0.1331
0.1228
-0.0263
-0.0556
-0.1256
0.0098
0.0269
-0.0245
0.0259
0.0063
-0.1240
-0.0586
0.1578
0.0665
0.0264
-0.0219
-0.0841
-0.0431
-0.0022
-0.0129
0.1758
0.0227
0.0589
0.1308
-0.0433
-0.0330
-0.0791
-0.0446
-0.0775
-0.1163
0.0607
0.1094
-0.0786
0.0153
0.0088
0.1242
0.0931
0.0151
0.0159
0.0445
0.1408
0.0313
0.0086

30-Dec-03
28-Jan-04
25-Feb-04
31-Mar-04
28-Apr-04
26-May-04
30-Jun-04
28-Jul-04
25-Aug-04
29-Sep-04
27-Oct-04
24-Nov-04
29-Dec-04

525
625
575
460
450
395
395
420
430
500
575
650
650

1
1
1
1
1
1
1
1
1
1
1
1
1

525
625
575
460
450
395
395
420
430
500
575
650
650

0.0294
0.1905
-0.0800
-0.2000
-0.0217
-0.1222
0.0000
0.0633
0.0238
0.1628
0.1500
0.1304
0.0000

0.0228
0.1840
-0.0862
-0.2059
-0.0275
-0.1280
-0.0057
0.0575
0.0181
0.1570
0.1442
0.1246
-0.0058

1.0294
1.1905
0.9200
0.8000
0.9783
0.8778
1.0000
1.0633
1.0238
1.1628
1.1500
1.1304
1.0000

1.0228
1.1840
0.9138
0.7941
0.9725
0.8720
0.9943
1.0575
1.0181
1.1570
1.1442
1.1246
0.9942

0.0984
0.1087
0.0130
-0.0532
0.1118
-0.1222
0.0200
0.0380
-0.0375
0.1109
0.0446
0.1321
0.0448

JCI Excess
Return
-0.0560
-0.1004
0.0038
-0.1228
-0.1416
0.1141
-0.0360
-0.0663
-0.1363
-0.0009
0.0161
-0.0357
0.0145
-0.0053
-0.1357
-0.0709
0.1452
0.0536
0.0132
-0.0354
-0.0980
-0.0570
-0.0160
-0.0268
0.1619
0.0093
0.0456
0.1176
-0.0564
-0.0452
-0.0910
-0.0564
-0.0888
-0.1267
0.0504
0.0991
-0.0888
0.0054
-0.0008
0.1153
0.0844
0.0070
0.0084
0.0374
0.1339
0.0245
0.0020

0.0917
0.1022
0.0068
-0.0591
0.1060
-0.1279
0.0143
0.0322
-0.0432
0.1052
0.0389
0.1263
0.0390

#REF!
[ - E(Y)] Squared
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

Return-based
#REF!
e Squared
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

e
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

n
60

0.3780
X Squared
0.0022
0.0084
0.0002
0.0131
0.0177
0.0151
0.0007
0.0031
0.0158
0.0001
0.0007
0.0006
0.0007
0.0000
0.0154
0.0034
0.0249
0.0044
0.0007
0.0005
0.0071
0.0019
0.0000
0.0002
0.0309
0.0005
0.0035
0.0171
0.0019
0.0011
0.0063
0.0020
0.0060
0.0135
0.0037
0.0120
0.0062
0.0002
0.0001
0.0154
0.0087
0.0002
0.0003
0.0020
0.0198

0.4712
XY
0.0036
0.0153
-0.0022
0.0111
0.0180
0.0038
-0.0003
0.0003
0.0136
0.0015
-0.0024
0.0008
-0.0009
-0.0011
0.0207
0.0100
0.0704
0.0083
0.0010
0.0023
0.0168
0.0017
0.0002
0.0007
0.0335
0.0023
0.0188
0.0271
0.0049
0.0096
0.0072
0.0000
0.0039
0.0147
-0.0007
0.0107
0.0070
-0.0004
-0.0003
0.0226
0.0061
-0.0025
-0.0004
0.0023
0.0221

0.5834
X
-0.0467
-0.0916
0.0124
-0.1143
-0.1331
0.1228
-0.0263
-0.0556
-0.1256
0.0098
0.0269
-0.0245
0.0259
0.0063
-0.1240
-0.0586
0.1578
0.0665
0.0264
-0.0219
-0.0841
-0.0431
-0.0022
-0.0129
0.1758
0.0227
0.0589
0.1308
-0.0433
-0.0330
-0.0791
-0.0446
-0.0775
-0.1163
0.0607
0.1094
-0.0786
0.0153
0.0088
0.1242
0.0931
0.0151
0.0159
0.0445
0.1408

#REF!
-0.3774
Y
[ - E(Y)] Squared
-0.0769
#REF!
-0.1667
#REF!
-0.1800
#REF!
-0.0976
#REF!
-0.1351
#REF!
0.0313
#REF!
0.0121
#REF!
-0.0060
#REF!
-0.1084
#REF!
0.1486
#REF!
-0.0882
#REF!
-0.0323
#REF!
-0.0333
#REF!
-0.1724
#REF!
-0.1667
#REF!
-0.1700
#REF!
0.4458
#REF!
0.1250
#REF!
0.0370
#REF!
-0.1071
#REF!
-0.2000
#REF!
-0.0400
#REF!
-0.0729
#REF!
-0.0562
#REF!
0.1905
#REF!
0.1000
#REF!
0.3182
#REF!
0.2069
#REF!
-0.1143
#REF!
-0.2903
#REF!
-0.0909
#REF!
0.0000
#REF!
-0.0500
#REF!
-0.1263
#REF!
-0.0120
#REF!
0.0976
#REF!
-0.0889
#REF!
-0.0244
#REF!
-0.0375
#REF!
0.1818
#REF!
0.0659
#REF!
-0.1649
#REF!
-0.0247
#REF!
0.0506
#REF!
0.1566
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

0.0010
0.0001
0.0097
0.0118
0.0002
0.0028
0.0125
0.0149
0.0004
0.0014
0.0014
0.0123
0.0020
0.0174
0.0020

0.0000
0.0005
0.0029
0.0207
-0.0010
0.0106
-0.0024
0.0149
0.0000
0.0024
-0.0009
0.0181
0.0067
0.0172
0.0000

0.0313
0.0086
0.0984
0.1087
0.0130
-0.0532
0.1118
-0.1222
0.0200
0.0380
-0.0375
0.1109
0.0446
0.1321
0.0448

0.0000
0.0625
0.0294
0.1905
-0.0800
-0.2000
-0.0217
-0.1222
0.0000
0.0633
0.0238
0.1628
0.1500
0.1304
0.0000

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

Excess Return-based
#REF!
e Squared
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

e
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

n
60

0.3768
X Squared
0.0031
0.0101
0.0000
0.0151
0.0201
0.0130
0.0013
0.0044
0.0186
0.0000
0.0003
0.0013
0.0002
0.0000
0.0184
0.0050
0.0211
0.0029
0.0002
0.0013
0.0096
0.0032
0.0003
0.0007
0.0262
0.0001
0.0021
0.0138
0.0032
0.0020
0.0083
0.0032
0.0079
0.0161
0.0025
0.0098
0.0079
0.0000
0.0000
0.0133
0.0071
0.0000
0.0001
0.0014
0.0179

0.4783
XY
0.0048
0.0176
-0.0007
0.0130
0.0203
0.0026
-0.0001
0.0011
0.0162
-0.0001
-0.0016
0.0015
-0.0006
0.0010
0.0242
0.0129
0.0629
0.0060
0.0003
0.0043
0.0210
0.0031
0.0014
0.0019
0.0286
0.0008
0.0139
0.0228
0.0072
0.0137
0.0094
0.0007
0.0054
0.0173
-0.0011
0.0087
0.0088
-0.0002
0.0000
0.0199
0.0048
-0.0012
-0.0003
0.0016
0.0200

0.0000
X
-0.0560
-0.1004
0.0038
-0.1228
-0.1416
0.1141
-0.0360
-0.0663
-0.1363
-0.0009
0.0161
-0.0357
0.0145
-0.0053
-0.1357
-0.0709
0.1452
0.0536
0.0132
-0.0354
-0.0980
-0.0570
-0.0160
-0.0268
0.1619
0.0093
0.0456
0.1176
-0.0564
-0.0452
-0.0910
-0.0564
-0.0888
-0.1267
0.0504
0.0991
-0.0888
0.0054
-0.0008
0.1153
0.0844
0.0070
0.0084
0.0374
0.1339

-0.9608
Y
-0.0863
-0.1754
-0.1886
-0.1061
-0.1437
0.0226
0.0024
-0.0166
-0.1191
0.1379
-0.0990
-0.0434
-0.0448
-0.1840
-0.1783
-0.1823
0.4331
0.1121
0.0239
-0.1207
-0.2139
-0.0539
-0.0868
-0.0701
0.1766
0.0867
0.3049
0.1937
-0.1274
-0.3025
-0.1028
-0.0117
-0.0613
-0.1367
-0.0223
0.0873
-0.0991
-0.0344
-0.0471
0.1729
0.0573
-0.1731
-0.0322
0.0435
0.1496

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

0.0006
0.0000
0.0084
0.0104
0.0000
0.0035
0.0112
0.0164
0.0002
0.0010
0.0019
0.0111
0.0015
0.0159
0.0015

-0.0002
0.0001
0.0021
0.0188
-0.0006
0.0122
-0.0029
0.0164
-0.0001
0.0019
-0.0008
0.0165
0.0056
0.0157
-0.0002

0.0245
0.0020
0.0917
0.1022
0.0068
-0.0591
0.1060
-0.1279
0.0143
0.0322
-0.0432
0.1052
0.0389
0.1263
0.0390

-0.0068
0.0559
0.0228
0.1840
-0.0862
-0.2059
-0.0275
-0.1280
-0.0057
0.0575
0.0181
0.1570
0.1442
0.1246
-0.0058

INDF
Date
29-Dec-99
26-Jan-00
23-Feb-00
29-Mar-00
26-Apr-00
31-May-00
28-Jun-00
26-Jul-00
30-Aug-00
27-Sep-00
26-Oct-00
29-Nov-00
20-Dec-00
31-Jan-01
28-Feb-01
28-Mar-01
25-Apr-01
30-May-01
27-Jun-01
25-Jul-01
29-Aug-01
26-Sep-01
31-Oct-01
28-Nov-01
26-Dec-01
30-Jan-02
27-Feb-02
27-Mar-02
24-Apr-02
29-May-02
26-Jun-02
31-Jul-02
28-Aug-02
25-Sep-02
30-Oct-02
27-Nov-02
27-Dec-02
29-Jan-03
26-Feb-03
26-Mar-03
30-Apr-03
28-May-03
25-Jun-03
30-Jul-03
27-Aug-03
24-Sep-03
29-Oct-03
1-Dec-03

Closing Price
8,625
7,150
5,600
5,900
5,400
4,300
4,850
4,500
3,600
3,810
800
825
775
900
925
850
750
800
850
875
800
725
675
625
600
775
750
800
1,100
1,050
1,100
1,125
925
725
625
575
600
550
550
625
725
875
850
775
675
750
725
700

Adj.

Adj. Close
1
1
1
1
1
1
1
1
1
1
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5

8,625
7,150
5,600
5,900
5,400
4,300
4,850
4,500
3,600
3,810
4,000
4,125
3,875
4,500
4,625
4,250
3,750
4,000
4,250
4,375
4,000
3,625
3,375
3,125
3,000
3,875
3,750
4,000
5,500
5,250
5,500
5,625
4,625
3,625
3,125
2,875
3,000
2,750
2,750
3,125
3,625
4,375
4,250
3,875
3,375
3,750
3,625
3,500

Arithmetic Average
-0.0057
-0.0154
Return
-0.1710
-0.2168
0.0536
-0.0847
-0.2037
0.1279
-0.0722
-0.2000
0.0583
0.0499
0.0313
-0.0606
0.1613
0.0278
-0.0811
-0.1176
0.0667
0.0625
0.0294
-0.0857
-0.0938
-0.0690
-0.0741
-0.0400
0.2917
-0.0323
0.0667
0.3750
-0.0455
0.0476
0.0227
-0.1778
-0.2162
-0.1379
-0.0800
0.0435
-0.0833
0.0000
0.1364
0.1600
0.2069
-0.0286
-0.0882
-0.1290
0.1111
-0.0333
-0.0345

Geometric Average
-0.0127
-0.0225

Ex. Return 1 + Return 1 + Ex. Rt JCI Return

-0.1804
-0.2255
0.0449
-0.0933
-0.2122
0.1192
-0.0818
-0.2106
0.0477
0.0392
0.0204
-0.0717
0.1499
0.0162
-0.0927
-0.1299
0.0540
0.0496
0.0163
-0.0992
-0.1077
-0.0828
-0.0879
-0.0539
0.2778
-0.0456
0.0534
0.3618
-0.0585
0.0354
0.0108
-0.1895
-0.2275
-0.1483
-0.0903
0.0332
-0.0935
-0.0100
0.1268
0.1511
0.1982
-0.0368
-0.0957
-0.1362
0.1041
-0.0401
-0.0411

0.8290
0.7832
1.0536
0.9153
0.7963
1.1279
0.9278
0.8000
1.0583
1.0499
1.0313
0.9394
1.1613
1.0278
0.9189
0.8824
1.0667
1.0625
1.0294
0.9143
0.9063
0.9310
0.9259
0.9600
1.2917
0.9677
1.0667
1.3750
0.9545
1.0476
1.0227
0.8222
0.7838
0.8621
0.9200
1.0435
0.9167
1.0000
1.1364
1.1600
1.2069
0.9714
0.9118
0.8710
1.1111
0.9667
0.9655

0.8196
0.7745
1.0449
0.9067
0.7878
1.1192
0.9182
0.7894
1.0477
1.0392
1.0204
0.9283
1.1499
1.0162
0.9073
0.8701
1.0540
1.0496
1.0163
0.9008
0.8923
0.9172
0.9121
0.9461
1.2778
0.9544
1.0534
1.3618
0.9415
1.0354
1.0108
0.8105
0.7725
0.8517
0.9097
1.0332
0.9065
0.9900
1.1268
1.1511
1.1982
0.9632
0.9043
0.8638
1.1041
0.9599
0.9589

-0.0467
-0.0916
0.0124
-0.1143
-0.1331
0.1228
-0.0263
-0.0556
-0.1256
0.0098
0.0269
-0.0245
0.0259
0.0063
-0.1240
-0.0586
0.1578
0.0665
0.0264
-0.0219
-0.0841
-0.0431
-0.0022
-0.0129
0.1758
0.0227
0.0589
0.1308
-0.0433
-0.0330
-0.0791
-0.0446
-0.0775
-0.1163
0.0607
0.1094
-0.0786
0.0153
0.0088
0.1242
0.0931
0.0151
0.0159
0.0445
0.1408
0.0313
0.0086

30-Dec-03
28-Jan-04
25-Feb-04
31-Mar-04
28-Apr-04
26-May-04
30-Jun-04
28-Jul-04
25-Aug-04
29-Sep-04
27-Oct-04
24-Nov-04
29-Dec-04

800
850
875
800
775
650
700
700
650
725
675
725
800

5
5
5
5
5
5
5
5
5
5
5
5
5

4,000
4,250
4,375
4,000
3,875
3,250
3,500
3,500
3,250
3,625
3,375
3,625
4,000

0.1429
0.0625
0.0294
-0.0857
-0.0313
-0.1613
0.0769
0.0000
-0.0714
0.1154
-0.0690
0.0741
0.1034

0.1362
0.0560
0.0233
-0.0916
-0.0371
-0.1670
0.0712
-0.0057
-0.0772
0.1096
-0.0747
0.0683
0.0977

1.1429
1.0625
1.0294
0.9143
0.9688
0.8387
1.0769
1.0000
0.9286
1.1154
0.9310
1.0741
1.1034

1.1362
1.0560
1.0233
0.9084
0.9629
0.8330
1.0712
0.9943
0.9228
1.1096
0.9253
1.0683
1.0977

0.0984
0.1087
0.0130
-0.0532
0.1118
-0.1222
0.0200
0.0380
-0.0375
0.1109
0.0446
0.1321
0.0448

JCI Excess
Return
-0.0560
-0.1004
0.0038
-0.1228
-0.1416
0.1141
-0.0360
-0.0663
-0.1363
-0.0009
0.0161
-0.0357
0.0145
-0.0053
-0.1357
-0.0709
0.1452
0.0536
0.0132
-0.0354
-0.0980
-0.0570
-0.0160
-0.0268
0.1619
0.0093
0.0456
0.1176
-0.0564
-0.0452
-0.0910
-0.0564
-0.0888
-0.1267
0.0504
0.0991
-0.0888
0.0054
-0.0008
0.1153
0.0844
0.0070
0.0084
0.0374
0.1339
0.0245
0.0020

0.0917
0.1022
0.0068
-0.0591
0.1060
-0.1279
0.0143
0.0322
-0.0432
0.1052
0.0389
0.1263
0.0390

#REF!
#REF!

Return-based
#REF!
#REF!
[ - E(Y)] Squared e Squared
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

e
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

n
60

0.3780
X Squared
0.0022
0.0084
0.0002
0.0131
0.0177
0.0151
0.0007
0.0031
0.0158
0.0001
0.0007
0.0006
0.0007
0.0000
0.0154
0.0034
0.0249
0.0044
0.0007
0.0005
0.0071
0.0019
0.0000
0.0002
0.0309
0.0005
0.0035
0.0171
0.0019
0.0011
0.0063
0.0020
0.0060
0.0135
0.0037
0.0120
0.0062
0.0002
0.0001
0.0154
0.0087
0.0002
0.0003
0.0020
0.0198

0.4064
XY
0.0080
0.0199
0.0007
0.0097
0.0271
0.0157
0.0019
0.0111
-0.0073
0.0005
0.0008
0.0015
0.0042
0.0002
0.0101
0.0069
0.0105
0.0042
0.0008
0.0019
0.0079
0.0030
0.0002
0.0005
0.0513
-0.0007
0.0039
0.0491
0.0020
-0.0016
-0.0018
0.0079
0.0168
0.0160
-0.0049
0.0048
0.0066
0.0000
0.0012
0.0199
0.0193
-0.0004
-0.0014
-0.0057
0.0156

0.5834
X
-0.0467
-0.0916
0.0124
-0.1143
-0.1331
0.1228
-0.0263
-0.0556
-0.1256
0.0098
0.0269
-0.0245
0.0259
0.0063
-0.1240
-0.0586
0.1578
0.0665
0.0264
-0.0219
-0.0841
-0.0431
-0.0022
-0.0129
0.1758
0.0227
0.0589
0.1308
-0.0433
-0.0330
-0.0791
-0.0446
-0.0775
-0.1163
0.0607
0.1094
-0.0786
0.0153
0.0088
0.1242
0.0931
0.0151
0.0159
0.0445
0.1408

-0.3408
Y
-0.1710
-0.2168
0.0536
-0.0847
-0.2037
0.1279
-0.0722
-0.2000
0.0583
0.0499
0.0313
-0.0606
0.1613
0.0278
-0.0811
-0.1176
0.0667
0.0625
0.0294
-0.0857
-0.0938
-0.0690
-0.0741
-0.0400
0.2917
-0.0323
0.0667
0.3750
-0.0455
0.0476
0.0227
-0.1778
-0.2162
-0.1379
-0.0800
0.0435
-0.0833
0.0000
0.1364
0.1600
0.2069
-0.0286
-0.0882
-0.1290
0.1111

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

0.0010
0.0001
0.0097
0.0118
0.0002
0.0028
0.0125
0.0149
0.0004
0.0014
0.0014
0.0123
0.0020
0.0174
0.0020

-0.0010
-0.0003
0.0141
0.0068
0.0004
0.0046
-0.0035
0.0197
0.0015
0.0000
0.0027
0.0128
-0.0031
0.0098
0.0046

0.0313
0.0086
0.0984
0.1087
0.0130
-0.0532
0.1118
-0.1222
0.0200
0.0380
-0.0375
0.1109
0.0446
0.1321
0.0448

-0.0333
-0.0345
0.1429
0.0625
0.0294
-0.0857
-0.0313
-0.1613
0.0769
0.0000
-0.0714
0.1154
-0.0690
0.0741
0.1034

Excess Return-based
#REF!
#REF!
[ - E(Y)] Squared e Squared
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

e
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

n
60

0.3768
X Squared
0.0031
0.0101
0.0000
0.0151
0.0201
0.0130
0.0013
0.0044
0.0186
0.0000
0.0003
0.0013
0.0002
0.0000
0.0184
0.0050
0.0211
0.0029
0.0002
0.0013
0.0096
0.0032
0.0003
0.0007
0.0262
0.0001
0.0021
0.0138
0.0032
0.0020
0.0083
0.0032
0.0079
0.0161
0.0025
0.0098
0.0079
0.0000
0.0000
0.0133
0.0071
0.0000
0.0001
0.0014
0.0179

0.4117
XY
0.0101
0.0226
0.0002
0.0115
0.0301
0.0136
0.0029
0.0140
-0.0065
0.0000
0.0003
0.0026
0.0022
-0.0001
0.0126
0.0092
0.0078
0.0027
0.0002
0.0035
0.0106
0.0047
0.0014
0.0014
0.0450
-0.0004
0.0024
0.0426
0.0033
-0.0016
-0.0010
0.0107
0.0202
0.0188
-0.0046
0.0033
0.0083
-0.0001
-0.0001
0.0174
0.0167
-0.0003
-0.0008
-0.0051
0.0139

0.0000
X
-0.0560
-0.1004
0.0038
-0.1228
-0.1416
0.1141
-0.0360
-0.0663
-0.1363
-0.0009
0.0161
-0.0357
0.0145
-0.0053
-0.1357
-0.0709
0.1452
0.0536
0.0132
-0.0354
-0.0980
-0.0570
-0.0160
-0.0268
0.1619
0.0093
0.0456
0.1176
-0.0564
-0.0452
-0.0910
-0.0564
-0.0888
-0.1267
0.0504
0.0991
-0.0888
0.0054
-0.0008
0.1153
0.0844
0.0070
0.0084
0.0374
0.1339

-0.9242
Y
-0.1804
-0.2255
0.0449
-0.0933
-0.2122
0.1192
-0.0818
-0.2106
0.0477
0.0392
0.0204
-0.0717
0.1499
0.0162
-0.0927
-0.1299
0.0540
0.0496
0.0163
-0.0992
-0.1077
-0.0828
-0.0879
-0.0539
0.2778
-0.0456
0.0534
0.3618
-0.0585
0.0354
0.0108
-0.1895
-0.2275
-0.1483
-0.0903
0.0332
-0.0935
-0.0100
0.1268
0.1511
0.1982
-0.0368
-0.0957
-0.1362
0.1041

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

0.0006
0.0000
0.0084
0.0104
0.0000
0.0035
0.0112
0.0164
0.0002
0.0010
0.0019
0.0111
0.0015
0.0159
0.0015

-0.0010
-0.0001
0.0125
0.0057
0.0002
0.0054
-0.0039
0.0214
0.0010
-0.0002
0.0033
0.0115
-0.0029
0.0086
0.0038

0.0245
0.0020
0.0917
0.1022
0.0068
-0.0591
0.1060
-0.1279
0.0143
0.0322
-0.0432
0.1052
0.0389
0.1263
0.0390

-0.0401
-0.0411
0.1362
0.0560
0.0233
-0.0916
-0.0371
-0.1670
0.0712
-0.0057
-0.0772
0.1096
-0.0747
0.0683
0.0977

RMBA
Date
29-Dec-99
26-Jan-00
23-Feb-00
29-Mar-00
26-Apr-00
31-May-00
28-Jun-00
26-Jul-00
30-Aug-00
27-Sep-00
26-Oct-00
29-Nov-00
20-Dec-00
31-Jan-01
28-Feb-01
28-Mar-01
25-Apr-01
30-May-01
27-Jun-01
25-Jul-01
29-Aug-01
26-Sep-01
31-Oct-01
28-Nov-01
26-Dec-01
30-Jan-02
27-Feb-02
27-Mar-02
24-Apr-02
29-May-02
26-Jun-02
31-Jul-02
28-Aug-02
25-Sep-02
30-Oct-02
27-Nov-02
27-Dec-02
29-Jan-03
26-Feb-03
26-Mar-03
30-Apr-03
28-May-03
25-Jun-03
30-Jul-03
27-Aug-03
24-Sep-03
29-Oct-03
1-Dec-03

Closing Price
1,600
13,000
7,275
8,775
725
575
600
545
500
350
355
440
500
165
160
140
120
150
145
150
135
140
140
140
135
155
205
200
255
305
285
160
135
130
120
130
125
115
110
115
115
115
110
105
95
95
90
85

Adj.

Adj. Close
1
1
1
1
10
10
10
10
10
10
10
10
10
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30

1,600
13,000
7,275
8,775
7,250
5,750
6,000
5,450
5,000
3,500
3,550
4,400
5,000
4,950
4,800
4,200
3,600
4,500
4,350
4,500
4,050
4,200
4,200
4,200
4,050
4,650
6,150
6,000
7,650
9,150
8,550
4,800
4,050
3,900
3,600
3,900
3,750
3,450
3,300
3,450
3,450
3,450
3,300
3,150
2,850
2,850
2,700
2,550

Arithmetic Average
0.1086
0.0989
Return
7.1250
-0.4404
0.2062
-0.1738
-0.2069
0.0435
-0.0917
-0.0826
-0.3000
0.0143
0.2394
0.1364
-0.0100
-0.0303
-0.1250
-0.1429
0.2500
-0.0333
0.0345
-0.1000
0.0370
0.0000
0.0000
-0.0357
0.1481
0.3226
-0.0244
0.2750
0.1961
-0.0656
-0.4386
-0.1563
-0.0370
-0.0769
0.0833
-0.0385
-0.0800
-0.0435
0.0455
0.0000
0.0000
-0.0435
-0.0455
-0.0952
0.0000
-0.0526
-0.0556

Geometric Average
0.0129
0.0028

Ex. Return 1 + Return 1 + Ex. Rt JCI Return

7.1156
-0.4491
0.1975
-0.1823
-0.2154
0.0348
-0.1013
-0.0932
-0.3106
0.0036
0.2286
0.1252
-0.0214
-0.0419
-0.1366
-0.1551
0.2373
-0.0462
0.0214
-0.1135
0.0231
-0.0139
-0.0139
-0.0496
0.1343
0.3092
-0.0377
0.2618
0.1830
-0.0778
-0.4505
-0.1680
-0.0483
-0.0873
0.0730
-0.0487
-0.0902
-0.0534
0.0358
-0.0089
-0.0087
-0.0517
-0.0529
-0.1024
-0.0070
-0.0594
-0.0622

8.1250
0.5596
1.2062
0.8262
0.7931
1.0435
0.9083
0.9174
0.7000
1.0143
1.2394
1.1364
0.9900
0.9697
0.8750
0.8571
1.2500
0.9667
1.0345
0.9000
1.0370
1.0000
1.0000
0.9643
1.1481
1.3226
0.9756
1.2750
1.1961
0.9344
0.5614
0.8438
0.9630
0.9231
1.0833
0.9615
0.9200
0.9565
1.0455
1.0000
1.0000
0.9565
0.9545
0.9048
1.0000
0.9474
0.9444

8.1156
0.5509
1.1975
0.8177
0.7846
1.0348
0.8987
0.9068
0.6894
1.0036
1.2286
1.1252
0.9786
0.9581
0.8634
0.8449
1.2373
0.9538
1.0214
0.8865
1.0231
0.9861
0.9861
0.9504
1.1343
1.3092
0.9623
1.2618
1.1830
0.9222
0.5495
0.8320
0.9517
0.9127
1.0730
0.9513
0.9098
0.9466
1.0358
0.9911
0.9913
0.9483
0.9471
0.8976
0.9930
0.9406
0.9378

-0.0467
-0.0916
0.0124
-0.1143
-0.1331
0.1228
-0.0263
-0.0556
-0.1256
0.0098
0.0269
-0.0245
0.0259
0.0063
-0.1240
-0.0586
0.1578
0.0665
0.0264
-0.0219
-0.0841
-0.0431
-0.0022
-0.0129
0.1758
0.0227
0.0589
0.1308
-0.0433
-0.0330
-0.0791
-0.0446
-0.0775
-0.1163
0.0607
0.1094
-0.0786
0.0153
0.0088
0.1242
0.0931
0.0151
0.0159
0.0445
0.1408
0.0313
0.0086

30-Dec-03
28-Jan-04
25-Feb-04
31-Mar-04
28-Apr-04
26-May-04
30-Jun-04
28-Jul-04
25-Aug-04
29-Sep-04
27-Oct-04
24-Nov-04
29-Dec-04

90
105
115
95
120
110
110
120
110
110
120
120
115

30
30
30
30
30
30
30
30
30
30
30
30
30

2,700
3,150
3,450
2,850
3,600
3,300
3,300
3,600
3,300
3,300
3,600
3,600
3,450

0.0588
0.1667
0.0952
-0.1739
0.2632
-0.0833
0.0000
0.0909
-0.0833
0.0000
0.0909
0.0000
-0.0417

0.0522
0.1602
0.0891
-0.1798
0.2574
-0.0891
-0.0057
0.0852
-0.0891
-0.0058
0.0851
-0.0058
-0.0475

1.0588
1.1667
1.0952
0.8261
1.2632
0.9167
1.0000
1.0909
0.9167
1.0000
1.0909
1.0000
0.9583

1.0522
1.1602
1.0891
0.8202
1.2574
0.9109
0.9943
1.0852
0.9109
0.9942
1.0851
0.9942
0.9525

0.0984
0.1087
0.0130
-0.0532
0.1118
-0.1222
0.0200
0.0380
-0.0375
0.1109
0.0446
0.1321
0.0448

JCI Excess
Return
-0.0560
-0.1004
0.0038
-0.1228
-0.1416
0.1141
-0.0360
-0.0663
-0.1363
-0.0009
0.0161
-0.0357
0.0145
-0.0053
-0.1357
-0.0709
0.1452
0.0536
0.0132
-0.0354
-0.0980
-0.0570
-0.0160
-0.0268
0.1619
0.0093
0.0456
0.1176
-0.0564
-0.0452
-0.0910
-0.0564
-0.0888
-0.1267
0.0504
0.0991
-0.0888
0.0054
-0.0008
0.1153
0.0844
0.0070
0.0084
0.0374
0.1339
0.0245
0.0020

0.0917
0.1022
0.0068
-0.0591
0.1060
-0.1279
0.0143
0.0322
-0.0432
0.1052
0.0389
0.1263
0.0390

Return-based
#REF!
#REF!
[ - E(Y)] Squared e Squared
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

e
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

n
60

0.3780
X Squared
0.0022
0.0084
0.0002
0.0131
0.0177
0.0151
0.0007
0.0031
0.0158
0.0001
0.0007
0.0006
0.0007
0.0000
0.0154
0.0034
0.0249
0.0044
0.0007
0.0005
0.0071
0.0019
0.0000
0.0002
0.0309
0.0005
0.0035
0.0171
0.0019
0.0011
0.0063
0.0020
0.0060
0.0135
0.0037
0.0120
0.0062
0.0002
0.0001
0.0154
0.0087
0.0002
0.0003
0.0020
0.0198

0.0692
XY
-0.3325
0.0404
0.0026
0.0199
0.0275
0.0053
0.0024
0.0046
0.0377
0.0001
0.0064
-0.0033
-0.0003
-0.0002
0.0155
0.0084
0.0395
-0.0022
0.0009
0.0022
-0.0031
0.0000
0.0000
0.0005
0.0260
0.0073
-0.0014
0.0360
-0.0085
0.0022
0.0347
0.0070
0.0029
0.0089
0.0051
-0.0042
0.0063
-0.0007
0.0004
0.0000
0.0000
-0.0007
-0.0007
-0.0042
0.0000

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

0.0010
0.0001
0.0097
0.0118
0.0002
0.0028
0.0125
0.0149
0.0004
0.0014
0.0014
0.0123
0.0020
0.0174
0.0020

-0.0016
-0.0005
0.0058
0.0181
0.0012
0.0093
0.0294
0.0102
0.0000
0.0035
0.0031
0.0000
0.0041
0.0000
-0.0019

Excess Return-based
0.5834
X
-0.0467
-0.0916
0.0124
-0.1143
-0.1331
0.1228
-0.0263
-0.0556
-0.1256
0.0098
0.0269
-0.0245
0.0259
0.0063
-0.1240
-0.0586
0.1578
0.0665
0.0264
-0.0219
-0.0841
-0.0431
-0.0022
-0.0129
0.1758
0.0227
0.0589
0.1308
-0.0433
-0.0330
-0.0791
-0.0446
-0.0775
-0.1163
0.0607
0.1094
-0.0786
0.0153
0.0088
0.1242
0.0931
0.0151
0.0159
0.0445
0.1408

#REF!
#REF!
6.5147
Y
[ - E(Y)] Squared e Squared
7.1250
#REF!
#REF!
-0.4404
#REF!
#REF!
0.2062
#REF!
#REF!
-0.1738
#REF!
#REF!
-0.2069
#REF!
#REF!
0.0435
#REF!
#REF!
-0.0917
#REF!
#REF!
-0.0826
#REF!
#REF!
-0.3000
#REF!
#REF!
0.0143
#REF!
#REF!
0.2394
#REF!
#REF!
0.1364
#REF!
#REF!
-0.0100
#REF!
#REF!
-0.0303
#REF!
#REF!
-0.1250
#REF!
#REF!
-0.1429
#REF!
#REF!
0.2500
#REF!
#REF!
-0.0333
#REF!
#REF!
0.0345
#REF!
#REF!
-0.1000
#REF!
#REF!
0.0370
#REF!
#REF!
0.0000
#REF!
#REF!
0.0000
#REF!
#REF!
-0.0357
#REF!
#REF!
0.1481
#REF!
#REF!
0.3226
#REF!
#REF!
-0.0244
#REF!
#REF!
0.2750
#REF!
#REF!
0.1961
#REF!
#REF!
-0.0656
#REF!
#REF!
-0.4386
#REF!
#REF!
-0.1563
#REF!
#REF!
-0.0370
#REF!
#REF!
-0.0769
#REF!
#REF!
0.0833
#REF!
#REF!
-0.0385
#REF!
#REF!
-0.0800
#REF!
#REF!
-0.0435
#REF!
#REF!
0.0455
#REF!
#REF!
0.0000
#REF!
#REF!
0.0000
#REF!
#REF!
-0.0435
#REF!
#REF!
-0.0455
#REF!
#REF!
-0.0952
#REF!
#REF!
0.0000
#REF!
#REF!

e
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

n
60

0.3768
X Squared
0.0031
0.0101
0.0000
0.0151
0.0201
0.0130
0.0013
0.0044
0.0186
0.0000
0.0003
0.0013
0.0002
0.0000
0.0184
0.0050
0.0211
0.0029
0.0002
0.0013
0.0096
0.0032
0.0003
0.0007
0.0262
0.0001
0.0021
0.0138
0.0032
0.0020
0.0083
0.0032
0.0079
0.0161
0.0025
0.0098
0.0079
0.0000
0.0000
0.0133
0.0071
0.0000
0.0001
0.0014
0.0179

0.0092
XY
-0.3987
0.0451
0.0007
0.0224
0.0305
0.0040
0.0036
0.0062
0.0423
0.0000
0.0037
-0.0045
-0.0003
0.0002
0.0185
0.0110
0.0345
-0.0025
0.0003
0.0040
-0.0023
0.0008
0.0002
0.0013
0.0217
0.0029
-0.0017
0.0308
-0.0103
0.0035
0.0410
0.0095
0.0043
0.0111
0.0037
-0.0048
0.0080
-0.0003
0.0000
-0.0010
-0.0007
-0.0004
-0.0004
-0.0038
-0.0009

0.0313
0.0086
0.0984
0.1087
0.0130
-0.0532
0.1118
-0.1222
0.0200
0.0380
-0.0375
0.1109
0.0446
0.1321
0.0448

-0.0526
-0.0556
0.0588
0.1667
0.0952
-0.1739
0.2632
-0.0833
0.0000
0.0909
-0.0833
0.0000
0.0909
0.0000
-0.0417

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!
#REF!

0.0006
0.0000
0.0084
0.0104
0.0000
0.0035
0.0112
0.0164
0.0002
0.0010
0.0019
0.0111
0.0015
0.0159
0.0015

-0.0015
-0.0001
0.0048
0.0164
0.0006
0.0106
0.0273
0.0114
-0.0001
0.0027
0.0039
-0.0006
0.0033
-0.0007
-0.0019

0.0000
X
-0.0560
-0.1004
0.0038
-0.1228
-0.1416
0.1141
-0.0360
-0.0663
-0.1363
-0.0009
0.0161
-0.0357
0.0145
-0.0053
-0.1357
-0.0709
0.1452
0.0536
0.0132
-0.0354
-0.0980
-0.0570
-0.0160
-0.0268
0.1619
0.0093
0.0456
0.1176
-0.0564
-0.0452
-0.0910
-0.0564
-0.0888
-0.1267
0.0504
0.0991
-0.0888
0.0054
-0.0008
0.1153
0.0844
0.0070
0.0084
0.0374
0.1339

5.9314
Y
7.1156
-0.4491
0.1975
-0.1823
-0.2154
0.0348
-0.1013
-0.0932
-0.3106
0.0036
0.2286
0.1252
-0.0214
-0.0419
-0.1366
-0.1551
0.2373
-0.0462
0.0214
-0.1135
0.0231
-0.0139
-0.0139
-0.0496
0.1343
0.3092
-0.0377
0.2618
0.1830
-0.0778
-0.4505
-0.1680
-0.0483
-0.0873
0.0730
-0.0487
-0.0902
-0.0534
0.0358
-0.0089
-0.0087
-0.0517
-0.0529
-0.1024
-0.0070

0.0245
0.0020
0.0917
0.1022
0.0068
-0.0591
0.1060
-0.1279
0.0143
0.0322
-0.0432
0.1052
0.0389
0.1263
0.0390

-0.0594
-0.0622
0.0522
0.1602
0.0891
-0.1798
0.2574
-0.0891
-0.0057
0.0852
-0.0891
-0.0058
0.0851
-0.0058
-0.0475

GGRM
Date
29-Dec-99
26-Jan-00
23-Feb-00
29-Mar-00
26-Apr-00
31-May-00
28-Jun-00
26-Jul-00
30-Aug-00
27-Sep-00
26-Oct-00
29-Nov-00
20-Dec-00
31-Jan-01
28-Feb-01
28-Mar-01
25-Apr-01
30-May-01
27-Jun-01
25-Jul-01
29-Aug-01
26-Sep-01
31-Oct-01
28-Nov-01
26-Dec-01
30-Jan-02
27-Feb-02
27-Mar-02
24-Apr-02
29-May-02
26-Jun-02
31-Jul-02
28-Aug-02
25-Sep-02
30-Oct-02
27-Nov-02
27-Dec-02
29-Jan-03
26-Feb-03
26-Mar-03
30-Apr-03
28-May-03
25-Jun-03
30-Jul-03
27-Aug-03
24-Sep-03
29-Oct-03
1-Dec-03

Closing Price
18,750
16,700
12,075
14,950
11,800
11,200
13,650
13,725
12,950
10,325
10,850
12,950
13,100
14,000
13,950
12,550
11,450
12,150
13,450
12,900
12,400
10,200
9,000
8,400
8,150
11,300
10,950
10,800
11,650
10,750
10,400
9,250
8,400
8,200
7,050
7,400
8,300
7,400
7,500
7,500
8,650
9,750
10,300
9,950
9,150
11,100
13,100
13,150

Adj.

Adj. Close
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

18,750
16,700
12,075
14,950
11,800
11,200
13,650
13,725
12,950
10,325
10,850
12,950
13,100
14,000
13,950
12,550
11,450
12,150
13,450
12,900
12,400
10,200
9,000
8,400
8,150
11,300
10,950
10,800
11,650
10,750
10,400
9,250
8,400
8,200
7,050
7,400
8,300
7,400
7,500
7,500
8,650
9,750
10,300
9,950
9,150
11,100
13,100
13,150

Arithmetic Average
0.0016
-0.0082
Return
-0.1093
-0.2769
0.2381
-0.2107
-0.0508
0.2188
0.0055
-0.0565
-0.2027
0.0508
0.1935
0.0116
0.0687
-0.0036
-0.1004
-0.0876
0.0611
0.1070
-0.0409
-0.0388
-0.1774
-0.1176
-0.0667
-0.0298
0.3865
-0.0310
-0.0137
0.0787
-0.0773
-0.0326
-0.1106
-0.0919
-0.0238
-0.1402
0.0496
0.1216
-0.1084
0.0135
0.0000
0.1533
0.1272
0.0564
-0.0340
-0.0804
0.2131
0.1802
0.0038

Geometric Average
-0.0054
-0.0152

Ex. Return 1 + Return 1 + Ex. Rt JCI Return

-0.1187
-0.2857
0.2295
-0.2193
-0.0594
0.2101
-0.0042
-0.0671
-0.2133
0.0401
0.1827
0.0005
0.0573
-0.0152
-0.1120
-0.0999
0.0485
0.0941
-0.0540
-0.0523
-0.1914
-0.1315
-0.0805
-0.0436
0.3726
-0.0443
-0.0270
0.0655
-0.0903
-0.0448
-0.1225
-0.1036
-0.0351
-0.1506
0.0394
0.1114
-0.1186
0.0035
-0.0096
0.1444
0.1185
0.0482
-0.0414
-0.0875
0.2061
0.1734
-0.0028

0.8907
0.7231
1.2381
0.7893
0.9492
1.2188
1.0055
0.9435
0.7973
1.0508
1.1935
1.0116
1.0687
0.9964
0.8996
0.9124
1.0611
1.1070
0.9591
0.9612
0.8226
0.8824
0.9333
0.9702
1.3865
0.9690
0.9863
1.0787
0.9227
0.9674
0.8894
0.9081
0.9762
0.8598
1.0496
1.1216
0.8916
1.0135
1.0000
1.1533
1.1272
1.0564
0.9660
0.9196
1.2131
1.1802
1.0038

0.8813
0.7143
1.2295
0.7807
0.9406
1.2101
0.9958
0.9329
0.7867
1.0401
1.1827
1.0005
1.0573
0.9848
0.8880
0.9001
1.0485
1.0941
0.9460
0.9477
0.8086
0.8685
0.9195
0.9564
1.3726
0.9557
0.9730
1.0655
0.9097
0.9552
0.8775
0.8964
0.9649
0.8494
1.0394
1.1114
0.8814
1.0035
0.9904
1.1444
1.1185
1.0482
0.9586
0.9125
1.2061
1.1734
0.9972

-0.0467
-0.0916
0.0124
-0.1143
-0.1331
0.1228
-0.0263
-0.0556
-0.1256
0.0098
0.0269
-0.0245
0.0259
0.0063
-0.1240
-0.0586
0.1578
0.0665
0.0264
-0.0219
-0.0841
-0.0431
-0.0022
-0.0129
0.1758
0.0227
0.0589
0.1308
-0.0433
-0.0330
-0.0791
-0.0446
-0.0775
-0.1163
0.0607
0.1094
-0.0786
0.0153
0.0088
0.1242
0.0931
0.0151
0.0159
0.0445
0.1408
0.0313
0.0086

30-Dec-03
28-Jan-04
25-Feb-04
31-Mar-04
28-Apr-04
26-May-04
30-Jun-04
28-Jul-04
25-Aug-04
29-Sep-04
27-Oct-04
24-Nov-04
29-Dec-04

13,600
15,200
14,350
12,900
15,000
13,550
13,700
14,200
12,750
12,700
12,600
13,050
13,550

1
1
1
1
1
1
1
1
1
1
1
1
1

13,600
15,200
14,350
12,900
15,000
13,550
13,700
14,200
12,750
12,700
12,600
13,050
13,550

0.0342
0.1176
-0.0559
-0.1010
0.1628
-0.0967
0.0111
0.0365
-0.1021
-0.0039
-0.0079
0.0357
0.0383

0.0276
0.1111
-0.0621
-0.1069
0.1570
-0.1024
0.0053
0.0308
-0.1079
-0.0097
-0.0137
0.0299
0.0325

1.0342
1.1176
0.9441
0.8990
1.1628
0.9033
1.0111
1.0365
0.8979
0.9961
0.9921
1.0357
1.0383

1.0276
1.1111
0.9379
0.8931
1.1570
0.8976
1.0053
1.0308
0.8921
0.9903
0.9863
1.0299
1.0325

0.0984
0.1087
0.0130
-0.0532
0.1118
-0.1222
0.0200
0.0380
-0.0375
0.1109
0.0446
0.1321
0.0448

JCI Excess
Return
-0.0560
-0.1004
0.0038
-0.1228
-0.1416
0.1141
-0.0360
-0.0663
-0.1363
-0.0009
0.0161
-0.0357
0.0145
-0.0053
-0.1357
-0.0709
0.1452
0.0536
0.0132
-0.0354
-0.0980
-0.0570
-0.0160
-0.0268
0.1619
0.0093
0.0456
0.1176
-0.0564
-0.0452
-0.0910
-0.0564
-0.0888
-0.1267
0.0504
0.0991
-0.0888
0.0054
-0.0008
0.1153
0.0844
0.0070
0.0084
0.0374
0.1339
0.0245
0.0020

0.0917
0.1022
0.0068
-0.0591
0.1060
-0.1279
0.0143
0.0322
-0.0432
0.1052
0.0389
0.1263
0.0390

HMSP
Date
29-Dec-99
26-Jan-00
23-Feb-00
29-Mar-00
26-Apr-00
31-May-00
28-Jun-00
26-Jul-00
30-Aug-00
27-Sep-00
26-Oct-00
29-Nov-00
20-Dec-00
31-Jan-01
28-Feb-01
28-Mar-01
25-Apr-01
30-May-01
27-Jun-01
25-Jul-01
29-Aug-01
26-Sep-01
31-Oct-01
28-Nov-01
26-Dec-01
30-Jan-02
27-Feb-02
27-Mar-02
24-Apr-02
29-May-02
26-Jun-02
31-Jul-02
28-Aug-02
25-Sep-02
30-Oct-02
27-Nov-02
27-Dec-02
29-Jan-03
26-Feb-03
26-Mar-03
30-Apr-03
28-May-03
25-Jun-03
30-Jul-03
27-Aug-03
24-Sep-03
29-Oct-03
1-Dec-03

Closing Price
17,525
16,750
12,975
12,700
11,325
11,000
12,700
13,300
12,750
10,975
11,800
14,000
14,500
14,650
14,250
11,300
11,450
14,350
16,350
15,600
16,750
3,175
3,000
3,550
3,200
4,200
4,400
4,525
4,500
4,425
4,100
3,950
3,975
3,500
2,925
3,150
3,700
3,050
2,950
2,975
3,575
3,750
4,200
4,200
4,075
4,650
4,375
4,200

Adj.

Adj. Close
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5
5

17,525
16,750
12,975
12,700
11,325
11,000
12,700
13,300
12,750
10,975
11,800
14,000
14,500
14,650
14,250
11,300
11,450
14,350
16,350
15,600
16,750
15,875
15,000
17,750
16,000
21,000
22,000
22,625
22,500
22,125
20,500
19,750
19,875
17,500
14,625
15,750
18,500
15,250
14,750
14,875
17,875
18,750
21,000
21,000
20,375
23,250
21,875
21,000

Arithmetic Average
0.0170
0.0073
Return
-0.0442
-0.2254
-0.0212
-0.1083
-0.0287
0.1545
0.0472
-0.0414
-0.1392
0.0752
0.1864
0.0357
0.0103
-0.0273
-0.2070
0.0133
0.2533
0.1394
-0.0459
0.0737
-0.0522
-0.0551
0.1833
-0.0986
0.3125
0.0476
0.0284
-0.0055
-0.0167
-0.0734
-0.0366
0.0063
-0.1195
-0.1643
0.0769
0.1746
-0.1757
-0.0328
0.0085
0.2017
0.0490
0.1200
0.0000
-0.0298
0.1411
-0.0591
-0.0400

Geometric Average
0.0110
0.0012

Ex. Return 1 + Return 1 + Ex. Rt JCI Return

-0.0536
-0.2341
-0.0298
-0.1168
-0.0372
0.1459
0.0376
-0.0520
-0.1499
0.0645
0.1756
0.0246
-0.0011
-0.0389
-0.2187
0.0010
0.2406
0.1265
-0.0590
0.0602
-0.0662
-0.0690
0.1695
-0.1125
0.2986
0.0343
0.0151
-0.0187
-0.0298
-0.0857
-0.0485
-0.0054
-0.1308
-0.1747
0.0666
0.1643
-0.1859
-0.0428
-0.0011
0.1927
0.0403
0.1118
-0.0075
-0.0369
0.1341
-0.0659
-0.0466

0.9558
0.7746
0.9788
0.8917
0.9713
1.1545
1.0472
0.9586
0.8608
1.0752
1.1864
1.0357
1.0103
0.9727
0.7930
1.0133
1.2533
1.1394
0.9541
1.0737
0.9478
0.9449
1.1833
0.9014
1.3125
1.0476
1.0284
0.9945
0.9833
0.9266
0.9634
1.0063
0.8805
0.8357
1.0769
1.1746
0.8243
0.9672
1.0085
1.2017
1.0490
1.1200
1.0000
0.9702
1.1411
0.9409
0.9600

0.9464
0.7659
0.9702
0.8832
0.9628
1.1459
1.0376
0.9480
0.8501
1.0645
1.1756
1.0246
0.9989
0.9611
0.7813
1.0010
1.2406
1.1265
0.9410
1.0602
0.9338
0.9310
1.1695
0.8875
1.2986
1.0343
1.0151
0.9813
0.9702
0.9143
0.9515
0.9946
0.8692
0.8253
1.0666
1.1643
0.8141
0.9572
0.9989
1.1927
1.0403
1.1118
0.9925
0.9631
1.1341
0.9341
0.9534

-0.0467
-0.0916
0.0124
-0.1143
-0.1331
0.1228
-0.0263
-0.0556
-0.1256
0.0098
0.0269
-0.0245
0.0259
0.0063
-0.1240
-0.0586
0.1578
0.0665
0.0264
-0.0219
-0.0841
-0.0431
-0.0022
-0.0129
0.1758
0.0227
0.0589
0.1308
-0.0433
-0.0330
-0.0791
-0.0446
-0.0775
-0.1163
0.0607
0.1094
-0.0786
0.0153
0.0088
0.1242
0.0931
0.0151
0.0159
0.0445
0.1408
0.0313
0.0086

30-Dec-03
28-Jan-04
25-Feb-04
31-Mar-04
28-Apr-04
26-May-04
30-Jun-04
28-Jul-04
25-Aug-04
29-Sep-04
27-Oct-04
24-Nov-04
29-Dec-04

4,475
5,100
4,900
4,475
5,300
5,000
5,100
5,500
5,150
6,050
5,950
6,500
6,750

5
5
5
5
5
5
5
5
5
5
5
5
5

22,375
25,500
24,500
22,375
26,500
25,000
25,500
27,500
25,750
30,250
29,750
32,500
33,750

0.0655
0.1397
-0.0392
-0.0867
0.1844
-0.0566
0.0200
0.0784
-0.0636
0.1748
-0.0165
0.0924
0.0385

0.0588
0.1332
-0.0454
-0.0926
0.1786
-0.0623
0.0143
0.0727
-0.0694
0.1690
-0.0223
0.0866
0.0327

1.0655
1.1397
0.9608
0.9133
1.1844
0.9434
1.0200
1.0784
0.9364
1.1748
0.9835
1.0924
1.0385

1.0588
1.1332
0.9546
0.9074
1.1786
0.9377
1.0143
1.0727
0.9306
1.1690
0.9777
1.0866
1.0327

0.0984
0.1087
0.0130
-0.0532
0.1118
-0.1222
0.0200
0.0380
-0.0375
0.1109
0.0446
0.1321
0.0448

JCI Excess
Return
-0.0560
-0.1004
0.0038
-0.1228
-0.1416
0.1141
-0.0360
-0.0663
-0.1363
-0.0009
0.0161
-0.0357
0.0145
-0.0053
-0.1357
-0.0709
0.1452
0.0536
0.0132
-0.0354
-0.0980
-0.0570
-0.0160
-0.0268
0.1619
0.0093
0.0456
0.1176
-0.0564
-0.0452
-0.0910
-0.0564
-0.0888
-0.1267
0.0504
0.0991
-0.0888
0.0054
-0.0008
0.1153
0.0844
0.0070
0.0084
0.0374
0.1339
0.0245
0.0020

0.0917
0.1022
0.0068
-0.0591
0.1060
-0.1279
0.0143
0.0322
-0.0432
0.1052
0.0389
0.1263
0.0390

KLBF
Date
29-Dec-99
26-Jan-00
23-Feb-00
29-Mar-00
26-Apr-00
31-May-00
28-Jun-00
26-Jul-00
30-Aug-00
27-Sep-00
26-Oct-00
29-Nov-00
20-Dec-00
31-Jan-01
28-Feb-01
28-Mar-01
25-Apr-01
30-May-01
27-Jun-01
25-Jul-01
29-Aug-01
26-Sep-01
31-Oct-01
28-Nov-01
26-Dec-01
30-Jan-02
27-Feb-02
27-Mar-02
24-Apr-02
29-May-02
26-Jun-02
31-Jul-02
28-Aug-02
25-Sep-02
30-Oct-02
27-Nov-02
27-Dec-02
29-Jan-03
26-Feb-03
26-Mar-03
30-Apr-03
28-May-03
25-Jun-03
30-Jul-03
27-Aug-03
24-Sep-03
29-Oct-03
1-Dec-03

Closing Price
1,125
1,050
1,000
875
725
575
650
625
675
575
600
370
310
315
320
260
195
240
250
310
310
255
245
240
230
285
315
325
415
365
400
355
350
295
235
260
275
260
280
310
400
550
625
525
625
700
750
850

Adj.
1
1
1
1
1
1
1
1
1
1
1
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88
1.88

Adj. Close
1,125
1,050
1,000
875
725
575
650
625
675
575
600
696
583
592
602
489
367
451
470
583
583
479
461
451
432
536
592
611
780
686
752
667
658
555
442
489
517
489
526
583
752
1,034
1,175
987
1,175
1,316
1,410
1,598

Arithmetic Average
0.0216
0.0119
Return
-0.0667
-0.0476
-0.1250
-0.1714
-0.2069
0.1304
-0.0385
0.0800
-0.1481
0.0435
0.1593
-0.1622
0.0161
0.0159
-0.1875
-0.2500
0.2308
0.0417
0.2400
0.0000
-0.1774
-0.0392
-0.0204
-0.0417
0.2391
0.1053
0.0317
0.2769
-0.1205
0.0959
-0.1125
-0.0141
-0.1571
-0.2034
0.1064
0.0577
-0.0545
0.0769
0.1071
0.2903
0.3750
0.1364
-0.1600
0.1905
0.1200
0.0714
0.1333

Geometric Average
0.0109
0.0011

Ex. Return 1 + Return 1 + Ex. Rt JCI Return

-0.0760
-0.0564
-0.1336
-0.1800
-0.2154
0.1218
-0.0481
0.0694
-0.1588
0.0328
0.1485
-0.1733
0.0047
0.0043
-0.1991
-0.2623
0.2181
0.0288
0.2269
-0.0135
-0.1914
-0.0531
-0.0343
-0.0555
0.2252
0.0919
0.0185
0.2637
-0.1336
0.0837
-0.1244
-0.0258
-0.1684
-0.2138
0.0961
0.0474
-0.0648
0.0670
0.0975
0.2814
0.3663
0.1282
-0.1675
0.1833
0.1130
0.0646
0.1267

0.9333
0.9524
0.8750
0.8286
0.7931
1.1304
0.9615
1.0800
0.8519
1.0435
1.1593
0.8378
1.0161
1.0159
0.8125
0.7500
1.2308
1.0417
1.2400
1.0000
0.8226
0.9608
0.9796
0.9583
1.2391
1.1053
1.0317
1.2769
0.8795
1.0959
0.8875
0.9859
0.8429
0.7966
1.1064
1.0577
0.9455
1.0769
1.1071
1.2903
1.3750
1.1364
0.8400
1.1905
1.1200
1.0714
1.1333

0.9240
0.9436
0.8664
0.8200
0.7846
1.1218
0.9519
1.0694
0.8412
1.0328
1.1485
0.8267
1.0047
1.0043
0.8009
0.7377
1.2181
1.0288
1.2269
0.9865
0.8086
0.9469
0.9657
0.9445
1.2252
1.0919
1.0185
1.2637
0.8664
1.0837
0.8756
0.9742
0.8316
0.7862
1.0961
1.0474
0.9352
1.0670
1.0975
1.2814
1.3663
1.1282
0.8325
1.1833
1.1130
1.0646
1.1267

-0.0467
-0.0916
0.0124
-0.1143
-0.1331
0.1228
-0.0263
-0.0556
-0.1256
0.0098
0.0269
-0.0245
0.0259
0.0063
-0.1240
-0.0586
0.1578
0.0665
0.0264
-0.0219
-0.0841
-0.0431
-0.0022
-0.0129
0.1758
0.0227
0.0589
0.1308
-0.0433
-0.0330
-0.0791
-0.0446
-0.0775
-0.1163
0.0607
0.1094
-0.0786
0.0153
0.0088
0.1242
0.0931
0.0151
0.0159
0.0445
0.1408
0.0313
0.0086

30-Dec-03
28-Jan-04
25-Feb-04
31-Mar-04
28-Apr-04
26-May-04
30-Jun-04
28-Jul-04
25-Aug-04
29-Sep-04
27-Oct-04
24-Nov-04
29-Dec-04

1,000
525
475
470
485
360
350
400
380
410
450
600
575

1.88
3.76
3.76
3.76
3.76
3.76
3.76
3.76
3.76
3.76
3.76
3.76
3.76

1,880
1,974
1,786
1,767
1,824
1,354
1,316
1,504
1,429
1,542
1,692
2,256
2,162

0.1765
0.0500
-0.0952
-0.0105
0.0319
-0.2577
-0.0278
0.1429
-0.0500
0.0789
0.0976
0.3333
-0.0417

0.1698
0.0435
-0.1014
-0.0164
0.0261
-0.2635
-0.0335
0.1371
-0.0558
0.0732
0.0918
0.3275
-0.0475

1.1765
1.0500
0.9048
0.9895
1.0319
0.7423
0.9722
1.1429
0.9500
1.0789
1.0976
1.3333
0.9583

1.1698
1.0435
0.8986
0.9836
1.0261
0.7365
0.9665
1.1371
0.9442
1.0732
1.0918
1.3275
0.9525

0.0984
0.1087
0.0130
-0.0532
0.1118
-0.1222
0.0200
0.0380
-0.0375
0.1109
0.0446
0.1321
0.0448

JCI Excess
Return
-0.0560
-0.1004
0.0038
-0.1228
-0.1416
0.1141
-0.0360
-0.0663
-0.1363
-0.0009
0.0161
-0.0357
0.0145
-0.0053
-0.1357
-0.0709
0.1452
0.0536
0.0132
-0.0354
-0.0980
-0.0570
-0.0160
-0.0268
0.1619
0.0093
0.0456
0.1176
-0.0564
-0.0452
-0.0910
-0.0564
-0.0888
-0.1267
0.0504
0.0991
-0.0888
0.0054
-0.0008
0.1153
0.0844
0.0070
0.0084
0.0374
0.1339
0.0245
0.0020

0.0917
0.1022
0.0068
-0.0591
0.1060
-0.1279
0.0143
0.0322
-0.0432
0.1052
0.0389
0.1263
0.0390

UNVR
Date
29-Dec-99
26-Jan-00
23-Feb-00
29-Mar-00
26-Apr-00
31-May-00
28-Jun-00
26-Jul-00
30-Aug-00
27-Sep-00
26-Oct-00
29-Nov-00
20-Dec-00
31-Jan-01
28-Feb-01
28-Mar-01
25-Apr-01
30-May-01
27-Jun-01
25-Jul-01
29-Aug-01
26-Sep-01
31-Oct-01
28-Nov-01
26-Dec-01
30-Jan-02
27-Feb-02
27-Mar-02
24-Apr-02
29-May-02
26-Jun-02
31-Jul-02
28-Aug-02
25-Sep-02
30-Oct-02
27-Nov-02
27-Dec-02
29-Jan-03
26-Feb-03
26-Mar-03
30-Apr-03
28-May-03
25-Jun-03
30-Jul-03
27-Aug-03
24-Sep-03
29-Oct-03
1-Dec-03

Closing Price
115,000
109,000
98,000
88,000
87,000
88,250
100,450
127,000
137,500
125,000
145,000
12,800
12,600
13,700
16,750
15,600
15,300
17,200
18,000
17,400
16,900
15,850
15,500
16,300
16,300
19,900
22,500
20,950
23,500
23,500
21,400
19,900
19,000
19,000
18,150
18,000
18,200
19,800
18,200
18,000
21,000
24,600
25,600
26,650
27,400
3,325
3,175
3,425

Adj.
1
1
1
1
1
1
1
1
1
1
1
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
100
100
100

Adj. Close
115,000
109,000
98,000
88,000
87,000
88,250
100,450
127,000
137,500
125,000
145,000
128,000
126,000
137,000
167,500
156,000
153,000
172,000
180,000
174,000
169,000
158,500
155,000
163,000
163,000
199,000
225,000
209,500
235,000
235,000
214,000
199,000
190,000
190,000
181,500
180,000
182,000
198,000
182,000
180,000
210,000
246,000
256,000
266,500
274,000
332,500
317,500
342,500

Arithmetic Average
0.0220
0.0122
Return
-0.0522
-0.1009
-0.1020
-0.0114
0.0144
0.1382
0.2643
0.0827
-0.0909
0.1600
-0.1172
-0.0156
0.0873
0.2226
-0.0687
-0.0192
0.1242
0.0465
-0.0333
-0.0287
-0.0621
-0.0221
0.0516
0.0000
0.2209
0.1307
-0.0689
0.1217
0.0000
-0.0894
-0.0701
-0.0452
0.0000
-0.0447
-0.0083
0.0111
0.0879
-0.0808
-0.0110
0.1667
0.1714
0.0407
0.0410
0.0281
0.2135
-0.0451
0.0787

Geometric Average
0.0180
0.0082

Ex. Return 1 + Return 1 + Ex. Rt JCI Return

-0.0615
-0.1097
-0.1107
-0.0199
0.0058
0.1296
0.2546
0.0720
-0.1015
0.1493
-0.1280
-0.0268
0.0759
0.2110
-0.0803
-0.0315
0.1115
0.0336
-0.0465
-0.0423
-0.0761
-0.0359
0.0378
-0.0139
0.2070
0.1173
-0.0822
0.1085
-0.0131
-0.1016
-0.0820
-0.0570
-0.0113
-0.0551
-0.0186
0.0008
0.0777
-0.0908
-0.0206
0.1577
0.1628
0.0325
0.0335
0.0210
0.2065
-0.0519
0.0721

0.9478
0.8991
0.8980
0.9886
1.0144
1.1382
1.2643
1.0827
0.9091
1.1600
0.8828
0.9844
1.0873
1.2226
0.9313
0.9808
1.1242
1.0465
0.9667
0.9713
0.9379
0.9779
1.0516
1.0000
1.2209
1.1307
0.9311
1.1217
1.0000
0.9106
0.9299
0.9548
1.0000
0.9553
0.9917
1.0111
1.0879
0.9192
0.9890
1.1667
1.1714
1.0407
1.0410
1.0281
1.2135
0.9549
1.0787

0.9385
0.8903
0.8893
0.9801
1.0058
1.1296
1.2546
1.0720
0.8985
1.1493
0.8720
0.9732
1.0759
1.2110
0.9197
0.9685
1.1115
1.0336
0.9535
0.9577
0.9239
0.9641
1.0378
0.9861
1.2070
1.1173
0.9178
1.1085
0.9869
0.8984
0.9180
0.9430
0.9887
0.9449
0.9814
1.0008
1.0777
0.9092
0.9794
1.1577
1.1628
1.0325
1.0335
1.0210
1.2065
0.9481
1.0721

-0.0467
-0.0916
0.0124
-0.1143
-0.1331
0.1228
-0.0263
-0.0556
-0.1256
0.0098
0.0269
-0.0245
0.0259
0.0063
-0.1240
-0.0586
0.1578
0.0665
0.0264
-0.0219
-0.0841
-0.0431
-0.0022
-0.0129
0.1758
0.0227
0.0589
0.1308
-0.0433
-0.0330
-0.0791
-0.0446
-0.0775
-0.1163
0.0607
0.1094
-0.0786
0.0153
0.0088
0.1242
0.0931
0.0151
0.0159
0.0445
0.1408
0.0313
0.0086

30-Dec-03
28-Jan-04
25-Feb-04
31-Mar-04
28-Apr-04
26-May-04
30-Jun-04
28-Jul-04
25-Aug-04
29-Sep-04
27-Oct-04
24-Nov-04
29-Dec-04

3,625
3,750
3,600
3,550
3,750
3,575
3,925
3,850
3,300
3,250
3,175
3,275
3,350

100
100
100
100
100
100
100
100
100
100
100
100
100

362,500
375,000
360,000
355,000
375,000
357,500
392,500
385,000
330,000
325,000
317,500
327,500
335,000

0.0584
0.0345
-0.0400
-0.0139
0.0563
-0.0467
0.0979
-0.0191
-0.1429
-0.0152
-0.0231
0.0315
0.0229

0.0517
0.0280
-0.0462
-0.0197
0.0505
-0.0524
0.0922
-0.0248
-0.1486
-0.0209
-0.0289
0.0257
0.0171

1.0584
1.0345
0.9600
0.9861
1.0563
0.9533
1.0979
0.9809
0.8571
0.9848
0.9769
1.0315
1.0229

1.0517
1.0280
0.9538
0.9803
1.0505
0.9476
1.0922
0.9752
0.8514
0.9791
0.9711
1.0257
1.0171

0.0984
0.1087
0.0130
-0.0532
0.1118
-0.1222
0.0200
0.0380
-0.0375
0.1109
0.0446
0.1321
0.0448

JCI Excess
Return
-0.0560
-0.1004
0.0038
-0.1228
-0.1416
0.1141
-0.0360
-0.0663
-0.1363
-0.0009
0.0161
-0.0357
0.0145
-0.0053
-0.1357
-0.0709
0.1452
0.0536
0.0132
-0.0354
-0.0980
-0.0570
-0.0160
-0.0268
0.1619
0.0093
0.0456
0.1176
-0.0564
-0.0452
-0.0910
-0.0564
-0.0888
-0.1267
0.0504
0.0991
-0.0888
0.0054
-0.0008
0.1153
0.0844
0.0070
0.0084
0.0374
0.1339
0.0245
0.0020

0.0917
0.1022
0.0068
-0.0591
0.1060
-0.1279
0.0143
0.0322
-0.0432
0.1052
0.0389
0.1263
0.0390

CTRS
Date
29-Dec-99
26-Jan-00
23-Feb-00
29-Mar-00
26-Apr-00
31-May-00
28-Jun-00
26-Jul-00
30-Aug-00
27-Sep-00
26-Oct-00
29-Nov-00
20-Dec-00
31-Jan-01
28-Feb-01
28-Mar-01
25-Apr-01
30-May-01
27-Jun-01
25-Jul-01
29-Aug-01
26-Sep-01
31-Oct-01
28-Nov-01
26-Dec-01
30-Jan-02
27-Feb-02
27-Mar-02
24-Apr-02
29-May-02
26-Jun-02
31-Jul-02
28-Aug-02
25-Sep-02
30-Oct-02
27-Nov-02
27-Dec-02
29-Jan-03
26-Feb-03
26-Mar-03
30-Apr-03
28-May-03
25-Jun-03
30-Jul-03
27-Aug-03
24-Sep-03
29-Oct-03
1-Dec-03

Closing Price
325
300
250
250
200
125
225
220
230
175
170
150
135
160
135
110
150
115
135
135
135
120
110
105
105
105
105
115
120
120
125
115
120
115
105
100
115
110
110
120
115
200
225
400
525
625
750
675

Adj.

Adj. Close
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

325
300
250
250
200
125
225
220
230
175
170
150
135
160
135
110
150
115
135
135
135
120
110
105
105
105
105
115
120
120
125
115
120
115
105
100
115
110
110
120
115
200
225
400
525
625
750
675

Arithmetic Average
0.0466
0.0368
Return
-0.0769
-0.1667
0.0000
-0.2000
-0.3750
0.8000
-0.0222
0.0455
-0.2391
-0.0286
-0.1176
-0.1000
0.1852
-0.1563
-0.1852
0.3636
-0.2333
0.1739
0.0000
0.0000
-0.1111
-0.0833
-0.0455
0.0000
0.0000
0.0000
0.0952
0.0435
0.0000
0.0417
-0.0800
0.0435
-0.0417
-0.0870
-0.0476
0.1500
-0.0435
0.0000
0.0909
-0.0417
0.7391
0.1250
0.7778
0.3125
0.1905
0.2000
-0.1000

Geometric Average
0.0255
0.0155

Ex. Return 1 + Return 1 + Ex. Rt JCI Return

-0.0863
-0.1754
-0.0086
-0.2086
-0.3835
0.7913
-0.0319
0.0348
-0.2498
-0.0393
-0.1284
-0.1111
0.1738
-0.1678
-0.1968
0.3514
-0.2460
0.1610
-0.0131
-0.0135
-0.1250
-0.0972
-0.0593
-0.0139
-0.0139
-0.0133
0.0820
0.0303
-0.0131
0.0295
-0.0919
0.0317
-0.0530
-0.0973
-0.0579
0.1397
-0.0537
-0.0100
0.0813
-0.0506
0.7305
0.1168
0.7703
0.3054
0.1835
0.1932
-0.1066

0.9231
0.8333
1.0000
0.8000
0.6250
1.8000
0.9778
1.0455
0.7609
0.9714
0.8824
0.9000
1.1852
0.8438
0.8148
1.3636
0.7667
1.1739
1.0000
1.0000
0.8889
0.9167
0.9545
1.0000
1.0000
1.0000
1.0952
1.0435
1.0000
1.0417
0.9200
1.0435
0.9583
0.9130
0.9524
1.1500
0.9565
1.0000
1.0909
0.9583
1.7391
1.1250
1.7778
1.3125
1.1905
1.2000
0.9000

0.9137
0.8246
0.9914
0.7914
0.6165
1.7913
0.9681
1.0348
0.7502
0.9607
0.8716
0.8889
1.1738
0.8322
0.8032
1.3514
0.7540
1.1610
0.9869
0.9865
0.8750
0.9028
0.9407
0.9861
0.9861
0.9867
1.0820
1.0303
0.9869
1.0295
0.9081
1.0317
0.9470
0.9027
0.9421
1.1397
0.9463
0.9900
1.0813
0.9494
1.7305
1.1168
1.7703
1.3054
1.1835
1.1932
0.8934

-0.0467
-0.0916
0.0124
-0.1143
-0.1331
0.1228
-0.0263
-0.0556
-0.1256
0.0098
0.0269
-0.0245
0.0259
0.0063
-0.1240
-0.0586
0.1578
0.0665
0.0264
-0.0219
-0.0841
-0.0431
-0.0022
-0.0129
0.1758
0.0227
0.0589
0.1308
-0.0433
-0.0330
-0.0791
-0.0446
-0.0775
-0.1163
0.0607
0.1094
-0.0786
0.0153
0.0088
0.1242
0.0931
0.0151
0.0159
0.0445
0.1408
0.0313
0.0086

30-Dec-03
28-Jan-04
25-Feb-04
31-Mar-04
28-Apr-04
26-May-04
30-Jun-04
28-Jul-04
25-Aug-04
29-Sep-04
27-Oct-04
24-Nov-04
29-Dec-04

700
1,025
1,100
975
1,150
825
850
925
975
1,100
1,175
1,550
1,475

1
1
1
1
1
1
1
1
1
1
1
1
1

700
1,025
1,100
975
1,150
825
850
925
975
1,100
1,175
1,550
1,475

0.0370
0.4643
0.0732
-0.1136
0.1795
-0.2826
0.0303
0.0882
0.0541
0.1282
0.0682
0.3191
-0.0484

0.0304
0.4578
0.0670
-0.1195
0.1737
-0.2883
0.0246
0.0825
0.0483
0.1224
0.0624
0.3134
-0.0542

1.0370
1.4643
1.0732
0.8864
1.1795
0.7174
1.0303
1.0882
1.0541
1.1282
1.0682
1.3191
0.9516

1.0304
1.4578
1.0670
0.8805
1.1737
0.7117
1.0246
1.0825
1.0483
1.1224
1.0624
1.3134
0.9458

0.0984
0.1087
0.0130
-0.0532
0.1118
-0.1222
0.0200
0.0380
-0.0375
0.1109
0.0446
0.1321
0.0448

JCI Excess
Return
-0.0560
-0.1004
0.0038
-0.1228
-0.1416
0.1141
-0.0360
-0.0663
-0.1363
-0.0009
0.0161
-0.0357
0.0145
-0.0053
-0.1357
-0.0709
0.1452
0.0536
0.0132
-0.0354
-0.0980
-0.0570
-0.0160
-0.0268
0.1619
0.0093
0.0456
0.1176
-0.0564
-0.0452
-0.0910
-0.0564
-0.0888
-0.1267
0.0504
0.0991
-0.0888
0.0054
-0.0008
0.1153
0.0844
0.0070
0.0084
0.0374
0.1339
0.0245
0.0020

0.0917
0.1022
0.0068
-0.0591
0.1060
-0.1279
0.0143
0.0322
-0.0432
0.1052
0.0389
0.1263
0.0390

ISAT
Date
29-Dec-99
26-Jan-00
23-Feb-00
29-Mar-00
26-Apr-00
31-May-00
28-Jun-00
26-Jul-00
30-Aug-00
27-Sep-00
26-Oct-00
29-Nov-00
20-Dec-00
31-Jan-01
28-Feb-01
28-Mar-01
25-Apr-01
30-May-01
27-Jun-01
25-Jul-01
29-Aug-01
26-Sep-01
31-Oct-01
28-Nov-01
26-Dec-01
30-Jan-02
27-Feb-02
27-Mar-02
24-Apr-02
29-May-02
26-Jun-02
31-Jul-02
28-Aug-02
25-Sep-02
30-Oct-02
27-Nov-02
27-Dec-02
29-Jan-03
26-Feb-03
26-Mar-03
30-Apr-03
28-May-03
25-Jun-03
30-Jul-03
27-Aug-03
24-Sep-03
29-Oct-03
1-Dec-03

Closing Price
15,500
14,250
13,300
12,925
11,000
9,350
10,025
9,275
7,600
6,890
6,750
8,950
8,950
9,100
10,500
7,850
8,150
9,650
10,150
10,500
9,350
7,950
8,450
8,350
8,900
10,550
10,000
10,050
12,950
11,700
10,450
9,100
8,900
8,600
7,550
8,100
9,250
7,400
7,850
7,750
8,700
9,150
9,050
8,350
8,150
9,500
11,400
12,200

Adj.

Adj. Close
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

15,500
14,250
13,300
12,925
11,000
9,350
10,025
9,275
7,600
6,890
6,750
8,950
8,950
9,100
10,500
7,850
8,150
9,650
10,150
10,500
9,350
7,950
8,450
8,350
8,900
10,550
10,000
10,050
12,950
11,700
10,450
9,100
8,900
8,600
7,550
8,100
9,250
7,400
7,850
7,750
8,700
9,150
9,050
8,350
8,150
9,500
11,400
12,200

Arithmetic Average
0.0181
0.0084
Return
-0.0806
-0.0667
-0.0282
-0.1489
-0.1500
0.0722
-0.0748
-0.1806
-0.0934
-0.0203
0.3259
0.0000
0.0168
0.1538
-0.2524
0.0382
0.1840
0.0518
0.0345
-0.1095
-0.1497
0.0629
-0.0118
0.0659
0.1854
-0.0521
0.0050
0.2886
-0.0965
-0.1068
-0.1292
-0.0220
-0.0337
-0.1221
0.0728
0.1420
-0.2000
0.0608
-0.0127
0.1226
0.0517
-0.0109
-0.0773
-0.0240
0.1656
0.2000
0.0702

Geometric Average
0.0105
0.0006

Ex. Return 1 + Return 1 + Ex. Rt JCI Return

-0.0900
-0.0754
-0.0368
-0.1575
-0.1585
0.0635
-0.0845
-0.1912
-0.1041
-0.0310
0.3151
-0.0111
0.0053
0.1422
-0.2640
0.0260
0.1714
0.0389
0.0214
-0.1231
-0.1637
0.0490
-0.0257
0.0520
0.1715
-0.0655
-0.0083
0.2753
-0.1096
-0.1190
-0.1411
-0.0337
-0.0450
-0.1325
0.0626
0.1317
-0.2102
0.0508
-0.0224
0.1136
0.0430
-0.0191
-0.0848
-0.0311
0.1587
0.1932
0.0635

0.9194
0.9333
0.9718
0.8511
0.8500
1.0722
0.9252
0.8194
0.9066
0.9797
1.3259
1.0000
1.0168
1.1538
0.7476
1.0382
1.1840
1.0518
1.0345
0.8905
0.8503
1.0629
0.9882
1.0659
1.1854
0.9479
1.0050
1.2886
0.9035
0.8932
0.8708
0.9780
0.9663
0.8779
1.0728
1.1420
0.8000
1.0608
0.9873
1.1226
1.0517
0.9891
0.9227
0.9760
1.1656
1.2000
1.0702

0.9100
0.9246
0.9632
0.8425
0.8415
1.0635
0.9155
0.8088
0.8959
0.9690
1.3151
0.9889
1.0053
1.1422
0.7360
1.0260
1.1714
1.0389
1.0214
0.8769
0.8363
1.0490
0.9743
1.0520
1.1715
0.9345
0.9917
1.2753
0.8904
0.8810
0.8589
0.9663
0.9550
0.8675
1.0626
1.1317
0.7898
1.0508
0.9776
1.1136
1.0430
0.9809
0.9152
0.9689
1.1587
1.1932
1.0635

-0.0467
-0.0916
0.0124
-0.1143
-0.1331
0.1228
-0.0263
-0.0556
-0.1256
0.0098
0.0269
-0.0245
0.0259
0.0063
-0.1240
-0.0586
0.1578
0.0665
0.0264
-0.0219
-0.0841
-0.0431
-0.0022
-0.0129
0.1758
0.0227
0.0589
0.1308
-0.0433
-0.0330
-0.0791
-0.0446
-0.0775
-0.1163
0.0607
0.1094
-0.0786
0.0153
0.0088
0.1242
0.0931
0.0151
0.0159
0.0445
0.1408
0.0313
0.0086

30-Dec-03
28-Jan-04
25-Feb-04
31-Mar-04
28-Apr-04
26-May-04
30-Jun-04
28-Jul-04
25-Aug-04
29-Sep-04
27-Oct-04
24-Nov-04
29-Dec-04

15,000
16,400
18,300
3,850
4,425
3,850
4,025
4,300
4,075
4,175
4,550
6,000
5,800

1
1
1
5
5
5
5
5
5
5
5
5
5

15,000
16,400
18,300
19,250
22,125
19,250
20,125
21,500
20,375
20,875
22,750
30,000
29,000

0.2295
0.0933
0.1159
0.0519
0.1494
-0.1299
0.0455
0.0683
-0.0523
0.0245
0.0898
0.3187
-0.0333

0.2229
0.0868
0.1097
0.0461
0.1435
-0.1357
0.0397
0.0626
-0.0581
0.0188
0.0840
0.3129
-0.0391

1.2295
1.0933
1.1159
1.0519
1.1494
0.8701
1.0455
1.0683
0.9477
1.0245
1.0898
1.3187
0.9667

1.2229
1.0868
1.1097
1.0461
1.1435
0.8643
1.0397
1.0626
0.9419
1.0188
1.0840
1.3129
0.9609

0.0984
0.1087
0.0130
-0.0532
0.1118
-0.1222
0.0200
0.0380
-0.0375
0.1109
0.0446
0.1321
0.0448

JCI Excess
Return
-0.0560
-0.1004
0.0038
-0.1228
-0.1416
0.1141
-0.0360
-0.0663
-0.1363
-0.0009
0.0161
-0.0357
0.0145
-0.0053
-0.1357
-0.0709
0.1452
0.0536
0.0132
-0.0354
-0.0980
-0.0570
-0.0160
-0.0268
0.1619
0.0093
0.0456
0.1176
-0.0564
-0.0452
-0.0910
-0.0564
-0.0888
-0.1267
0.0504
0.0991
-0.0888
0.0054
-0.0008
0.1153
0.0844
0.0070
0.0084
0.0374
0.1339
0.0245
0.0020

0.0917
0.1022
0.0068
-0.0591
0.1060
-0.1279
0.0143
0.0322
-0.0432
0.1052
0.0389
0.1263
0.0390

TLKM
Date
29-Dec-99
26-Jan-00
23-Feb-00
29-Mar-00
26-Apr-00
31-May-00
28-Jun-00
26-Jul-00
30-Aug-00
27-Sep-00
26-Oct-00
29-Nov-00
20-Dec-00
31-Jan-01
28-Feb-01
28-Mar-01
25-Apr-01
30-May-01
27-Jun-01
25-Jul-01
29-Aug-01
26-Sep-01
31-Oct-01
28-Nov-01
26-Dec-01
30-Jan-02
27-Feb-02
27-Mar-02
24-Apr-02
29-May-02
26-Jun-02
31-Jul-02
28-Aug-02
25-Sep-02
30-Oct-02
27-Nov-02
27-Dec-02
29-Jan-03
26-Feb-03
26-Mar-03
30-Apr-03
28-May-03
25-Jun-03
30-Jul-03
27-Aug-03
24-Sep-03
29-Oct-03
1-Dec-03

Closing Price
3,975
3,875
3,700
3,700
3,525
2,825
3,075
3,120
2,955
2,735
2,475
2,375
2,100
2,525
2,925
2,325
2,350
3,025
3,150
3,025
3,000
2,875
2,825
2,775
2,800
3,575
3,625
4,125
4,325
3,950
3,775
3,675
3,675
3,300
2,875
3,325
3,850
3,375
3,600
3,700
4,100
4,675
4,375
4,375
4,650
6,000
6,100
6,100

Adj.

Adj. Close
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

3,975
3,875
3,700
3,700
3,525
2,825
3,075
3,120
2,955
2,735
2,475
2,375
2,100
2,525
2,925
2,325
2,350
3,025
3,150
3,025
3,000
2,875
2,825
2,775
2,800
3,575
3,625
4,125
4,325
3,950
3,775
3,675
3,675
3,300
2,875
3,325
3,850
3,375
3,600
3,700
4,100
4,675
4,375
4,375
4,650
6,000
6,100
6,100

Arithmetic Average
0.0212
0.0115
Return
-0.0252
-0.0452
0.0000
-0.0473
-0.1986
0.0885
0.0146
-0.0529
-0.0745
-0.0951
-0.0404
-0.1158
0.2024
0.1584
-0.2051
0.0108
0.2872
0.0413
-0.0397
-0.0083
-0.0417
-0.0174
-0.0177
0.0090
0.2768
0.0140
0.1379
0.0485
-0.0867
-0.0443
-0.0265
0.0000
-0.1020
-0.1288
0.1565
0.1579
-0.1234
0.0667
0.0278
0.1081
0.1402
-0.0642
0.0000
0.0629
0.2903
0.0167
0.0000

Geometric Average
0.0152
0.0053

Ex. Return 1 + Return 1 + Ex. Rt JCI Return

-0.0345
-0.0539
-0.0086
-0.0559
-0.2071
0.0798
0.0050
-0.0635
-0.0851
-0.1058
-0.0512
-0.1269
0.1910
0.1468
-0.2168
-0.0015
0.2746
0.0285
-0.0528
-0.0218
-0.0556
-0.0312
-0.0316
-0.0049
0.2629
0.0006
0.1246
0.0353
-0.0998
-0.0565
-0.0384
-0.0117
-0.1133
-0.1392
0.1462
0.1476
-0.1336
0.0567
0.0182
0.0992
0.1316
-0.0724
-0.0075
0.0557
0.2833
0.0099
-0.0066

0.9748
0.9548
1.0000
0.9527
0.8014
1.0885
1.0146
0.9471
0.9255
0.9049
0.9596
0.8842
1.2024
1.1584
0.7949
1.0108
1.2872
1.0413
0.9603
0.9917
0.9583
0.9826
0.9823
1.0090
1.2768
1.0140
1.1379
1.0485
0.9133
0.9557
0.9735
1.0000
0.8980
0.8712
1.1565
1.1579
0.8766
1.0667
1.0278
1.1081
1.1402
0.9358
1.0000
1.0629
1.2903
1.0167
1.0000

0.9655
0.9461
0.9914
0.9441
0.7929
1.0798
1.0050
0.9365
0.9149
0.8942
0.9488
0.8731
1.1910
1.1468
0.7832
0.9985
1.2746
1.0285
0.9472
0.9782
0.9444
0.9688
0.9684
0.9951
1.2629
1.0006
1.1246
1.0353
0.9002
0.9435
0.9616
0.9883
0.8867
0.8608
1.1462
1.1476
0.8664
1.0567
1.0182
1.0992
1.1316
0.9276
0.9925
1.0557
1.2833
1.0099
0.9934

-0.0467
-0.0916
0.0124
-0.1143
-0.1331
0.1228
-0.0263
-0.0556
-0.1256
0.0098
0.0269
-0.0245
0.0259
0.0063
-0.1240
-0.0586
0.1578
0.0665
0.0264
-0.0219
-0.0841
-0.0431
-0.0022
-0.0129
0.1758
0.0227
0.0589
0.1308
-0.0433
-0.0330
-0.0791
-0.0446
-0.0775
-0.1163
0.0607
0.1094
-0.0786
0.0153
0.0088
0.1242
0.0931
0.0151
0.0159
0.0445
0.1408
0.0313
0.0086

30-Dec-03
28-Jan-04
25-Feb-04
31-Mar-04
28-Apr-04
26-May-04
30-Jun-04
28-Jul-04
25-Aug-04
29-Sep-04
27-Oct-04
24-Nov-04
29-Dec-04

6,750
7,800
7,450
7,000
8,450
7,200
7,400
7,650
7,300
4,125
4,200
5,100
4,900

1
1
1
1
1
1
1
1
1
2
2
2
2

6,750
7,800
7,450
7,000
8,450
7,200
7,400
7,650
7,300
8,250
8,400
10,200
9,800

0.1066
0.1556
-0.0449
-0.0604
0.2071
-0.1479
0.0278
0.0338
-0.0458
0.1301
0.0182
0.2143
-0.0392

0.0999
0.1491
-0.0510
-0.0663
0.2013
-0.1537
0.0221
0.0280
-0.0515
0.1244
0.0124
0.2085
-0.0450

1.1066
1.1556
0.9551
0.9396
1.2071
0.8521
1.0278
1.0338
0.9542
1.1301
1.0182
1.2143
0.9608

1.0999
1.1491
0.9490
0.9337
1.2013
0.8463
1.0221
1.0280
0.9485
1.1244
1.0124
1.2085
0.9550

0.0984
0.1087
0.0130
-0.0532
0.1118
-0.1222
0.0200
0.0380
-0.0375
0.1109
0.0446
0.1321
0.0448

JCI Excess
Return
-0.0560
-0.1004
0.0038
-0.1228
-0.1416
0.1141
-0.0360
-0.0663
-0.1363
-0.0009
0.0161
-0.0357
0.0145
-0.0053
-0.1357
-0.0709
0.1452
0.0536
0.0132
-0.0354
-0.0980
-0.0570
-0.0160
-0.0268
0.1619
0.0093
0.0456
0.1176
-0.0564
-0.0452
-0.0910
-0.0564
-0.0888
-0.1267
0.0504
0.0991
-0.0888
0.0054
-0.0008
0.1153
0.0844
0.0070
0.0084
0.0374
0.1339
0.0245
0.0020

0.0917
0.1022
0.0068
-0.0591
0.1060
-0.1279
0.0143
0.0322
-0.0432
0.1052
0.0389
0.1263
0.0390

BLTA
Date
29-Dec-99
26-Jan-00
23-Feb-00
29-Mar-00
26-Apr-00
31-May-00
28-Jun-00
26-Jul-00
30-Aug-00
27-Sep-00
26-Oct-00
29-Nov-00
20-Dec-00
31-Jan-01
28-Feb-01
28-Mar-01
25-Apr-01
30-May-01
27-Jun-01
25-Jul-01
29-Aug-01
26-Sep-01
31-Oct-01
28-Nov-01
26-Dec-01
30-Jan-02
27-Feb-02
27-Mar-02
24-Apr-02
29-May-02
26-Jun-02
31-Jul-02
28-Aug-02
25-Sep-02
30-Oct-02
27-Nov-02
27-Dec-02
29-Jan-03
26-Feb-03
26-Mar-03
30-Apr-03
28-May-03
25-Jun-03
30-Jul-03
27-Aug-03
24-Sep-03
29-Oct-03
1-Dec-03

Closing Price
1,100
1,125
1,000
1,075
950
875
950
990
1,005
990
1,100
1,075
1,025
1,025
1,025
975
950
1,050
1,150
1,325
1,325
1,300
1,700
1,625
1,800
2,050
550
625
800
650
625
500
500
500
475
500
485
500
500
495
550
475
485
450
500
475
600
775

Adj.

Adj. Close
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4
4

1,100
1,125
1,000
1,075
950
875
950
990
1,005
990
1,100
1,075
1,025
1,025
1,025
975
950
1,050
1,150
1,325
1,325
1,300
1,700
1,625
1,800
2,050
2,200
2,500
3,200
2,600
2,500
2,000
2,000
2,000
1,900
2,000
1,940
2,000
2,000
1,980
2,200
1,900
1,940
1,800
2,000
1,900
2,400
3,100

Arithmetic Average
0.0339
0.0242
Return
0.0227
-0.1111
0.0750
-0.1163
-0.0789
0.0857
0.0421
0.0152
-0.0149
0.1111
-0.0227
-0.0465
0.0000
0.0000
-0.0488
-0.0256
0.1053
0.0952
0.1522
0.0000
-0.0189
0.3077
-0.0441
0.1077
0.1389
0.0732
0.1364
0.2800
-0.1875
-0.0385
-0.2000
0.0000
0.0000
-0.0500
0.0526
-0.0300
0.0309
0.0000
-0.0100
0.1111
-0.1364
0.0211
-0.0722
0.1111
-0.0500
0.2632
0.2917

Geometric Average
0.0275
0.0177

Ex. Return 1 + Return 1 + Ex. Rt JCI Return

0.0134
-0.1199
0.0664
-0.1248
-0.0875
0.0770
0.0324
0.0045
-0.0256
0.1004
-0.0335
-0.0576
-0.0114
-0.0116
-0.0604
-0.0379
0.0926
0.0824
0.1391
-0.0135
-0.0328
0.2938
-0.0580
0.0938
0.1250
0.0598
0.1231
0.2668
-0.2006
-0.0507
-0.2119
-0.0117
-0.0113
-0.0604
0.0423
-0.0403
0.0207
-0.0100
-0.0196
0.1022
-0.1450
0.0129
-0.0796
0.1040
-0.0570
0.2564
0.2850

1.0227
0.8889
1.0750
0.8837
0.9211
1.0857
1.0421
1.0152
0.9851
1.1111
0.9773
0.9535
1.0000
1.0000
0.9512
0.9744
1.1053
1.0952
1.1522
1.0000
0.9811
1.3077
0.9559
1.1077
1.1389
1.0732
1.1364
1.2800
0.8125
0.9615
0.8000
1.0000
1.0000
0.9500
1.0526
0.9700
1.0309
1.0000
0.9900
1.1111
0.8636
1.0211
0.9278
1.1111
0.9500
1.2632
1.2917

1.0134
0.8801
1.0664
0.8752
0.9125
1.0770
1.0324
1.0045
0.9744
1.1004
0.9665
0.9424
0.9886
0.9884
0.9396
0.9621
1.0926
1.0824
1.1391
0.9865
0.9672
1.2938
0.9420
1.0938
1.1250
1.0598
1.1231
1.2668
0.7994
0.9493
0.7881
0.9883
0.9887
0.9396
1.0423
0.9597
1.0207
0.9900
0.9804
1.1022
0.8550
1.0129
0.9204
1.1040
0.9430
1.2564
1.2850

-0.0467
-0.0916
0.0124
-0.1143
-0.1331
0.1228
-0.0263
-0.0556
-0.1256
0.0098
0.0269
-0.0245
0.0259
0.0063
-0.1240
-0.0586
0.1578
0.0665
0.0264
-0.0219
-0.0841
-0.0431
-0.0022
-0.0129
0.1758
0.0227
0.0589
0.1308
-0.0433
-0.0330
-0.0791
-0.0446
-0.0775
-0.1163
0.0607
0.1094
-0.0786
0.0153
0.0088
0.1242
0.0931
0.0151
0.0159
0.0445
0.1408
0.0313
0.0086

30-Dec-03
28-Jan-04
25-Feb-04
31-Mar-04
28-Apr-04
26-May-04
30-Jun-04
28-Jul-04
25-Aug-04
29-Sep-04
27-Oct-04
24-Nov-04
29-Dec-04

1,000
1,125
1,175
1,075
1,025
875
1,000
975
950
1,150
1,250
750
700

4
4
4
4
4
4
4
4
4
4
4
8
8

4,000
4,500
4,700
4,300
4,100
3,500
4,000
3,900
3,800
4,600
5,000
6,000
5,600

0.2903
0.1250
0.0444
-0.0851
-0.0465
-0.1463
0.1429
-0.0250
-0.0256
0.2105
0.0870
0.2000
-0.0667

0.2837
0.1185
0.0383
-0.0910
-0.0523
-0.1521
0.1371
-0.0307
-0.0314
0.2048
0.0812
0.1942
-0.0725

1.2903
1.1250
1.0444
0.9149
0.9535
0.8537
1.1429
0.9750
0.9744
1.2105
1.0870
1.2000
0.9333

1.2837
1.1185
1.0383
0.9090
0.9477
0.8479
1.1371
0.9693
0.9686
1.2048
1.0812
1.1942
0.9275

0.0984
0.1087
0.0130
-0.0532
0.1118
-0.1222
0.0200
0.0380
-0.0375
0.1109
0.0446
0.1321
0.0448

JCI Excess
Return
-0.0560
-0.1004
0.0038
-0.1228
-0.1416
0.1141
-0.0360
-0.0663
-0.1363
-0.0009
0.0161
-0.0357
0.0145
-0.0053
-0.1357
-0.0709
0.1452
0.0536
0.0132
-0.0354
-0.0980
-0.0570
-0.0160
-0.0268
0.1619
0.0093
0.0456
0.1176
-0.0564
-0.0452
-0.0910
-0.0564
-0.0888
-0.1267
0.0504
0.0991
-0.0888
0.0054
-0.0008
0.1153
0.0844
0.0070
0.0084
0.0374
0.1339
0.0245
0.0020

0.0917
0.1022
0.0068
-0.0591
0.1060
-0.1279
0.0143
0.0322
-0.0432
0.1052
0.0389
0.1263
0.0390