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Large Large

Cap Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Value Mid cap Small cap
Jun-05 0.00517 0.00486 0.01228 0.02488 0.04517 0.07514 -0.00608 0.10212
May-05 0.00322 0.00384 0.01090 0.00696 0.05551 0.03484 0.09388 0.00147
Apr-05 0.00445 -0.01241 -0.01366 -0.03740 0.08613 0.07198 -0.03665 0.08948
Mar-05 0.00647 0.00942 0.00202 -0.00119 -0.02455 -0.06622 0.03536 0.01056
Feb-05 0.00532 0.00909 0.01853 0.02846 -0.04618 -0.02968 0.04692 -0.01362
Jan-05 0.00442 -0.00094 -0.00630 -0.01927 0.02328 0.04653 -0.00399 0.07654
Dec-04 0.00253 0.00230 0.01944 0.05324 -0.00992 -0.02937 0.16739 -0.02727
Nov-04 0.00414 -0.00948 -0.00612 -0.02364 0.07031 0.09155 0.11859 0.13430
Oct-04 0.00877 -0.00556 -0.01217 -0.03500 0.11320 0.06898 0.01237 0.14345
Sep-04 0.00199 -0.00441 -0.00277 -0.00303 0.00794 0.01499 0.06316 0.01833
Aug-04 0.00289 0.00103 0.00383 -0.00278 0.07982 0.06975 0.10823 0.08217
Jul-04 0.00152 -0.00815 -0.02519 -0.01002 0.00981 0.00657 0.10430 0.11655
Jun-04 0.00640 0.00946 -0.00716 -0.02644 0.03700 0.12012 0.01261 0.09355
May-04 0.00233 -0.00149 -0.00955 -0.03003 -0.04063 0.03875 -0.10364 0.00614
Apr-04 0.00287 0.00128 0.00213 0.00774 -0.15170 -0.24325 0.02324 -0.15308
Mar-04 0.00669 0.01054 0.01073 0.02549 0.00053 0.02839 -0.00773 0.08251
Feb-04 0.00864 0.01209 0.00106 -0.00059 -0.04474 0.04927 0.05749 -0.07034
Jan-04 -0.00323 -0.00989 -0.00034 -0.00848 -0.00557 -0.01769 -0.13708 -0.08562
Dec-03 0.00617 0.01052 0.00493 0.02070 -0.06526 -0.02626 0.20489 -0.12846
Nov-03 0.00217 -0.00315 -0.00545 -0.01516 0.16249 0.21347 0.10947 0.20439
Oct-03 0.00239 0.00105 0.00412 0.00134 0.02602 0.04250 0.09206 0.14254
Sep-03 0.00558 0.01502 0.01133 0.01376 0.04502 0.08645 0.04226 0.02422
Aug-03 0.00384 0.00482 0.01782 0.02715 -0.01415 0.06453 0.13812 0.04566
Jul-03 0.00463 0.01131 0.01149 0.00970 0.19945 0.20721 0.07616 0.12772
Jun-03 0.00343 0.01880 0.00698 0.01092 0.03858 0.07859 0.11502 0.01212
May-03 0.00389 0.00924 0.01029 0.01723 0.09418 0.13311 0.18511 0.14035
Apr-03 0.00761 0.01629 0.02506 0.03667 0.15821 0.24185 0.09882 0.22649
Mar-03 0.00784 0.01679 0.00574 -0.00220 -0.01774 0.05771 -0.09262 0.06606
Feb-03 0.00374 0.00202 0.00794 0.00897 -0.08067 -0.07718 -0.00394 -0.12041
Jan-03 0.00187 -0.00647 -0.01145 -0.01523 0.01824 0.02363 -0.02184 0.01499
Dec-02 0.00404 0.00000 0.01153 0.02976 -0.03263 0.01006 0.03408 -0.05133
Nov-02 0.00240 -0.00120 0.00625 0.02620 0.03226 0.09053 0.09776 -0.04754
Oct-02 0.00615 0.01022 0.01614 0.02500 0.04966 0.08459 -0.02143 0.10555
Sep-02 0.00572 0.00342 0.00379 0.00463 0.00652 0.02084 -0.07312 -0.03680
Aug-02 0.00610 0.00877 0.01345 0.01755 -0.07806 -0.07176 0.02300 -0.06092
Jul-02 0.00632 0.00885 0.01065 0.02008 0.03405 0.03981 -0.14221 -0.02721
Jun-02 0.00701 0.01127 0.01419 0.02440 -0.05399 -0.10457 0.08835 -0.15208
May-02 0.00183 -0.00693 -0.01108 -0.01720 0.02176 0.09688 -0.04869 0.34845
Apr-02 0.00343 0.00220 0.00074 -0.00004 -0.06512 0.01644 0.09023 0.05175
Mar-02 0.00740 0.00772 0.00272 0.01141 -0.04078 0.10278 0.05502 0.18283
Feb-02 0.00473 0.00632 0.01836 0.02697 -0.00875 0.07819 0.10900 0.03505
Jan-02 0.00755 0.01361 0.02070 0.03488 0.07093 0.25369 0.04060 0.05825
Dec-01 0.00437 0.00067 0.00026 -0.00750 0.01119 0.04766 -0.04230 0.00042
Nov-01 0.00292 0.00276 0.02393 0.07648 0.02266 -0.05553 0.14037 -0.04508
Oct-01 0.00612 0.00660 0.01696 0.03702 0.10691 0.08424 0.07749 0.19011
Sep-01 0.00473 -0.00789 0.00091 0.00564 0.05496 0.05431 -0.10332 0.08776
Aug-01 0.00775 0.01565 0.01577 0.01666 -0.14783 -0.09267 -0.00154 -0.09043
Jul-01 0.00724 0.01635 0.02417 0.00349 -0.01331 -0.03139 -0.06853 -0.09619
Jun-01 0.00926 0.01924 0.02495 0.03050 -0.03641 -0.04410 -0.11257 0.11621
May-01 0.00999 0.01582 0.02265 0.04051 -0.06148 -0.05827 0.09003 -0.16463
Apr-01 0.00737 0.00950 0.00937 0.01629 0.04511 0.07212 0.01288 0.10882
Mar-01 0.00691 0.00000 -0.00006 0.00088 -0.03554 0.02362 -0.29894 -0.24323
Feb-01 0.00951 0.01718 0.02823 0.03389 -0.16478 -0.14740 0.06456 0.26142
Jan-01 0.01020 0.01499 0.02173 0.03313 -0.01358 0.05340 -0.00458 -0.21753
Dec-00 0.00850 0.01381 0.02279 0.03490 0.08962 0.12900 0.02102 -0.03305
Nov-00 0.00823 0.01061 0.01543 0.01559 -0.00962 0.04870 0.08340 0.00199
Oct-00 0.01048 0.00498 0.01289 0.00447 0.07855 0.12689 -0.03270 0.10784
Sep-00 0.00935 0.00281 0.00748 -0.00365 -0.11208 -0.01398 -0.06167 -0.05615
Aug-00 0.00639 0.00296 0.00461 -0.00309 -0.11589 -0.10542 0.02679 -0.07577
Jul-00 0.00504 -0.00833 -0.01327 -0.02244 0.06487 -0.01810 -0.10230 0.06952
Jun-00 0.00821 0.00676 -0.00305 0.00497 -0.10929 -0.02008 0.09343 -0.04696
May-00 0.00673 0.00838 -0.00368 -0.01622 0.06651 0.09731 0.01957 0.02774
Apr-00 0.00926 0.01624 0.02360 0.03207 -0.09190 -0.01164 -0.25296 -0.00367
Mar-00 0.00626 0.00275 -0.00244 -0.01138 -0.15175 -0.10467 -0.16719 -0.14176
Feb-00 0.01050 0.01461 0.02571 0.03750 -0.10315 -0.12432 0.06350 -0.07744
Jan-00 0.00753 0.00658 0.01699 0.01708 0.11064 -0.08392 0.03848 0.03673

Fund return
Large Large
Cap Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Value Mid cap Small cap
Jan-00 0.00753 0.00658 0.01699 0.01708 0.11064 -0.08392 0.03848 0.03673
Feb-00 0.01050 0.01461 0.02571 0.03750 -0.10315 -0.12432 0.06350 -0.07744
Mar-00 0.00626 0.00275 -0.00244 -0.01138 -0.15175 -0.10467 -0.16719 -0.14176
Apr-00 0.00926 0.01624 0.02360 0.03207 -0.09190 -0.01164 -0.25296 -0.00367
May-00 0.00673 0.00838 -0.00368 -0.01622 0.06651 0.09731 0.01957 0.02774
Jun-00 0.00821 0.00676 -0.00305 0.00497 -0.10929 -0.02008 0.09343 -0.04696
Jul-00 0.00504 -0.00833 -0.01327 -0.02244 0.06487 -0.01810 -0.10230 0.06952
Aug-00 0.00639 0.00296 0.00461 -0.00309 -0.11589 -0.10542 0.02679 -0.07577
Sep-00 0.00935 0.00281 0.00748 -0.00365 -0.11208 -0.01398 -0.06167 -0.05615
Oct-00 0.01048 0.00498 0.01289 0.00447 0.07855 0.12689 -0.03270 0.10784
Nov-00 0.00823 0.01061 0.01543 0.01559 -0.00962 0.04870 0.08340 0.00199
Dec-00 0.00850 0.01381 0.02279 0.03490 0.08962 0.12900 0.02102 -0.03305
Jan-01 0.01020 0.01499 0.02173 0.03313 -0.01358 0.05340 -0.00458 -0.21753
Feb-01 0.00951 0.01718 0.02823 0.03389 -0.16478 -0.14740 0.06456 0.26142
Mar-01 0.00691 0.00000 -0.00006 0.00088 -0.03554 0.02362 -0.29894 -0.24323
Apr-01 0.00737 0.00950 0.00937 0.01629 0.04511 0.07212 0.01288 0.10882
May-01 0.00999 0.01582 0.02265 0.04051 -0.06148 -0.05827 0.09003 -0.16463
Jun-01 0.00926 0.01924 0.02495 0.03050 -0.03641 -0.04410 -0.11257 0.11621
Jul-01 0.00724 0.01635 0.02417 0.00349 -0.01331 -0.03139 -0.06853 -0.09619
Aug-01 0.00775 0.01565 0.01577 0.01666 -0.14783 -0.09267 -0.00154 -0.09043
Sep-01 0.00473 -0.00789 0.00091 0.00564 0.05496 0.05431 -0.10332 0.08776
Oct-01 0.00612 0.00660 0.01696 0.03702 0.10691 0.08424 0.07749 0.19011
Nov-01 0.00292 0.00276 0.02393 0.07648 0.02266 -0.05553 0.14037 -0.04508
Dec-01 0.00437 0.00067 0.00026 -0.00750 0.01119 0.04766 -0.04230 0.00042
Jan-02 0.00755 0.01361 0.02070 0.03488 0.07093 0.25369 0.04060 0.05825
Feb-02 0.00473 0.00632 0.01836 0.02697 -0.00875 0.07819 0.10900 0.03505
Mar-02 0.00740 0.00772 0.00272 0.01141 -0.04078 0.10278 0.05502 0.18283
Apr-02 0.00343 0.00220 0.00074 -0.00004 -0.06512 0.01644 0.09023 0.05175
May-02 0.00183 -0.00693 -0.01108 -0.01720 0.02176 0.09688 -0.04869 0.34845
Jun-02 0.00701 0.01127 0.01419 0.02440 -0.05399 -0.10457 0.08835 -0.15208
Jul-02 0.00632 0.00885 0.01065 0.02008 0.03405 0.03981 -0.14221 -0.02721
Aug-02 0.00610 0.00877 0.01345 0.01755 -0.07806 -0.07176 0.02300 -0.06092
Sep-02 0.00572 0.00342 0.00379 0.00463 0.00652 0.02084 -0.07312 -0.03680
Oct-02 0.00615 0.01022 0.01614 0.02500 0.04966 0.08459 -0.02143 0.10555
Nov-02 0.00240 -0.00120 0.00625 0.02620 0.03226 0.09053 0.09776 -0.04754
Dec-02 0.00404 0.00000 0.01153 0.02976 -0.03263 0.01006 0.03408 -0.05133
Jan-03 0.00187 -0.00647 -0.01145 -0.01523 0.01824 0.02363 -0.02184 0.01499
Feb-03 0.00374 0.00202 0.00794 0.00897 -0.08067 -0.07718 -0.00394 -0.12041
Mar-03 0.00784 0.01679 0.00574 -0.00220 -0.01774 0.05771 -0.09262 0.06606
Apr-03 0.00761 0.01629 0.02506 0.03667 0.15821 0.24185 0.09882 0.22649
May-03 0.00389 0.00924 0.01029 0.01723 0.09418 0.13311 0.18511 0.14035
Jun-03 0.00343 0.01880 0.00698 0.01092 0.03858 0.07859 0.11502 0.01212
Jul-03 0.00463 0.01131 0.01149 0.00970 0.19945 0.20721 0.07616 0.12772
Aug-03 0.00384 0.00482 0.01782 0.02715 -0.01415 0.06453 0.13812 0.04566
Sep-03 0.00558 0.01502 0.01133 0.01376 0.04502 0.08645 0.04226 0.02422
Oct-03 0.00239 0.00105 0.00412 0.00134 0.02602 0.04250 0.09206 0.14254
Nov-03 0.00217 -0.00315 -0.00545 -0.01516 0.16249 0.21347 0.10947 0.20439
Dec-03 0.00617 0.01052 0.00493 0.02070 -0.06526 -0.02626 0.20489 -0.12846
Jan-04 -0.00323 -0.00989 -0.00034 -0.00848 -0.00557 -0.01769 -0.13708 -0.08562
Feb-04 0.00864 0.01209 0.00106 -0.00059 -0.04474 0.04927 0.05749 -0.07034
Mar-04 0.00669 0.01054 0.01073 0.02549 0.00053 0.02839 -0.00773 0.08251
Apr-04 0.00287 0.00128 0.00213 0.00774 -0.15170 -0.24325 0.02324 -0.15308
May-04 0.00233 -0.00149 -0.00955 -0.03003 -0.04063 0.03875 -0.10364 0.00614
Jun-04 0.00640 0.00946 -0.00716 -0.02644 0.03700 0.12012 0.01261 0.09355
Jul-04 0.00152 -0.00815 -0.02519 -0.01002 0.00981 0.00657 0.10430 0.11655
Aug-04 0.00289 0.00103 0.00383 -0.00278 0.07982 0.06975 0.10823 0.08217
Sep-04 0.00199 -0.00441 -0.00277 -0.00303 0.00794 0.01499 0.06316 0.01833
Oct-04 0.00877 -0.00556 -0.01217 -0.03500 0.11320 0.06898 0.01237 0.14345
Nov-04 0.00414 -0.00948 -0.00612 -0.02364 0.07031 0.09155 0.11859 0.13430
Dec-04 0.00253 0.00230 0.01944 0.05324 -0.00992 -0.02937 0.16739 -0.02727
Jan-05 0.00442 -0.00094 -0.00630 -0.01927 0.02328 0.04653 -0.00399 0.07654
Feb-05 0.00532 0.00909 0.01853 0.02846 -0.04618 -0.02968 0.04692 -0.01362
Mar-05 0.00647 0.00942 0.00202 -0.00119 -0.02455 -0.06622 0.03536 0.01056
Apr-05 0.00445 -0.01241 -0.01366 -0.03740 0.08613 0.07198 -0.03665 0.08948
May-05 0.00322 0.00384 0.01090 0.00696 0.05551 0.03484 0.09388 0.00147
Jun-05 0.00517 0.00486 0.01228 0.02488 0.04517 0.07514 -0.00608 0.10212
US- European Japanese
Stocks Stocks Stocks
-0.00014 0.03006 0.02726
0.02995 0.03380 0.02432
-0.02011 -0.01894 -0.05656
-0.01912 -0.01491 -0.00610
0.01890 0.02395 0.03100
-0.02529 0.00789 -0.00881
0.03246 0.02362 0.05409
0.03859 0.01708 0.01187
0.01401 0.01168 -0.00482
0.00936 0.02500 -0.02330
0.00229 0.01047 -0.02154
-0.03429 -0.01142 -0.04495
0.01799 0.00754 0.05540
0.01208 -0.01314 -0.04467
-0.01679 0.02371 0.00396
-0.01636 -0.02371 0.06099
0.01221 0.02312 0.02395
0.01728 -0.01925 0.01002
0.05077 0.03093 0.05703
0.00713 0.01283 -0.04347
0.05496 0.04798 0.03332
-0.01194 -0.01677 -0.01204
0.01787 0.00099 0.08160
0.01622 0.03121 0.05286
0.01132 -0.00417 0.07818
0.05090 0.03110 0.07573
0.08104 0.08654 -0.01772
0.00836 -0.01157 -0.04667
-0.01700 0.02472 0.00277
-0.02741 -0.09466 -0.02786
-0.06033 -0.05492 -0.06908
0.05707 0.03211 0.06656
0.08645 0.08542 -0.07916
-0.11002 -0.11958 -0.02454
0.00488 -0.00445 -0.02618
-0.07900 -0.08809 -0.07003
-0.07246 -0.08431 -0.09707
-0.00908 -0.01558 0.02359
-0.06142 -0.02014 0.04241
0.03674 0.03348 0.04128
-0.02077 -0.01235 0.05902
-0.01557 -0.01008 -0.05168
0.00757 0.00265 -0.01447
0.07518 0.03252 0.03194
0.01810 0.02780 0.06053
-0.08172 -0.08262 -0.08763
-0.06411 -0.03330 -0.09673
-0.01074 -0.02010 -0.08546
-0.02504 -0.02650 -0.02210
0.00509 -0.02862 -0.04824
0.07681 0.05914 0.07190
-0.06420 -0.04802 0.00902
-0.09229 -0.06028 -0.06935
0.03464 0.01205 0.00420
0.00405 0.01307 -0.05890
-0.08007 -0.04601 0.00749
-0.00495 0.02291 -0.07669
-0.05348 -0.05672 -0.06607
0.06070 0.04829 0.07209
-0.01634 0.00833 -0.09669
0.02393 -0.00733 0.06604
-0.02191 0.00504 -0.09131
-0.03080 -0.03254 -0.11622
0.09672 0.04935 0.01893
-0.02011 -0.00573 0.02149
-0.05090 -0.09548 0.03197

US- European Japanese


Stocks Stocks Stocks
-0.05090 -0.09548 0.03197
-0.02011 -0.00573 0.02149
0.09672 0.04935 0.01893
-0.03080 -0.03254 -0.11622
-0.02191 0.00504 -0.09131
0.02393 -0.00733 0.06604
-0.01634 0.00833 -0.09669
0.06070 0.04829 0.07209
-0.05348 -0.05672 -0.06607
-0.00495 0.02291 -0.07669
-0.08007 -0.04601 0.00749
0.00405 0.01307 -0.05890
0.03464 0.01205 0.00420
-0.09229 -0.06028 -0.06935
-0.06420 -0.04802 0.00902
0.07681 0.05914 0.07190
0.00509 -0.02862 -0.04824
-0.02504 -0.02650 -0.02210
-0.01074 -0.02010 -0.08546
-0.06411 -0.03330 -0.09673
-0.08172 -0.08262 -0.08763
0.01810 0.02780 0.06053
0.07518 0.03252 0.03194
0.00757 0.00265 -0.01447
-0.01557 -0.01008 -0.05168
-0.02077 -0.01235 0.05902
0.03674 0.03348 0.04128
-0.06142 -0.02014 0.04241
-0.00908 -0.01558 0.02359
-0.07246 -0.08431 -0.09707
-0.07900 -0.08809 -0.07003
0.00488 -0.00445 -0.02618
-0.11002 -0.11958 -0.02454
0.08645 0.08542 -0.07916
0.05707 0.03211 0.06656
-0.06033 -0.05492 -0.06908
-0.02741 -0.09466 -0.02786
-0.01700 0.02472 0.00277
0.00836 -0.01157 -0.04667
0.08104 0.08654 -0.01772
0.05090 0.03110 0.07573
0.01132 -0.00417 0.07818
0.01622 0.03121 0.05286
0.01787 0.00099 0.08160
-0.01194 -0.01677 -0.01204
0.05496 0.04798 0.03332
0.00713 0.01283 -0.04347
0.05077 0.03093 0.05703
0.01728 -0.01925 0.01002
0.01221 0.02312 0.02395
-0.01636 -0.02371 0.06099
-0.01679 0.02371 0.00396
0.01208 -0.01314 -0.04467
0.01799 0.00754 0.05540
-0.03429 -0.01142 -0.04495
0.00229 0.01047 -0.02154
0.00936 0.02500 -0.02330
0.01401 0.01168 -0.00482
0.03859 0.01708 0.01187
0.03246 0.02362 0.05409
-0.02529 0.00789 -0.00881
0.01890 0.02395 0.03100
-0.01912 -0.01491 -0.00610
-0.02011 -0.01894 -0.05656
0.02995 0.03380 0.02432
-0.00014 0.03006 0.02726
Birla Tax Plan '98 Mean R _fund
Growth 0.00980

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708

Birla Tax Plan '98 Mean R _fund


Growth 0.00991

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708

Birla Tax Plan '98 Mean R _fund


Growth 0.00881

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517068 0.0048611 0.0122826 0.0248793
65 May_05 0.0803 0.00322321 0.0038416 0.0108969 0.006955
64 Apr_05 -0.0048 0.00445164 -0.012407 -0.01366 -0.037403
63 Mar_05 0.0004 0.00646607 0.0094188 0.0020166 -0.001194
62 Feb_05 0.0528 0.00532323 0.0090866 0.0185298 0.0284561
61 Jan_05 0.0016 0.00442137 -0.000939 -0.006297 -0.01927
60 Dec_04 0.0788 0.00252551 0.0023009 0.0194351 0.053242
59 Nov_04 0.1382 0.00414036 -0.009479 -0.006116 -0.023638
58 Oct_04 0.0022 0.00877101 -0.005563 -0.01217 -0.035002
57 Sep_04 0.0516 0.00198786 -0.00441 -0.002774 -0.00303
56 Aug_04 0.0455 0.00288547 0.0010267 0.0038289 -0.002784
55 Jul_04 0.0298 0.00152375 -0.008147 -0.025194 -0.010016
54 Jun_04 0.0258 0.00639839 0.0094572 -0.007159 -0.026439
53 May_04 -0.1182 0.00233211 -0.001488 -0.009551 -0.030025
52 Apr_04 0.0524 0.00287036 0.0012847 0.0021317 0.0077403
51 Mar_04 -0.0171 0.00668878 0.0105416 0.0107304 0.0254854
50 Feb_04 -0.0825 0.00863558 0.0120881 0.0010573 -0.00059
49 Jan_04 -0.0712 -0.0032279 -0.009887 -0.000338 -0.008483
48 Dec_03 0.2095 0.00617083 0.0105169 0.0049282 0.0207013
47 Nov_03 0.1247 0.0021699 -0.003145 -0.005451 -0.01516
46 Oct_03 0.0814 0.0023926 0.0010495 0.0041154 0.0013414
45 Sep_03 0.0801 0.00557743 0.01502 0.0113276 0.0137641
44 Aug_03 0.1119 0.00384235 0.0048167 0.0178182 0.0271513
43 Jul_03 0.0436 0.00463218 0.011312 0.0114851 0.0097001
42 Jun_03 0.1014 0.00343072 0.0188034 0.0069837 0.0109187
41 May_03 0.1911 0.00388846 0.0092381 0.0102912 0.0172261
40 Apr_03 0.0562 0.00761222 0.0162887 0.0250599 0.036669
39 Mar_03 -0.0561 0.00784115 0.0167922 0.005745 -0.002195
38 Feb_03 0.0103 0.00373705 0.0020168 0.0079387 0.0089708
37 Jan_03 0.0025 0.00187202 -0.006469 -0.011449 -0.015232
36 Dec_02 0.0679 0.00404397 0 0.011534 0.0297619
35 Nov_02 0.0862 0.00239794 -0.001201 0.0062494 0.0262005
34 Oct_02 0.0009 0.0061466 0.0102247 0.0161383 0.0250049
33 Sep_02 -0.0643 0.00571957 0.0034199 0.0037862 0.0046285
32 Aug_02 0.0225 0.00610323 0.0087709 0.0134544 0.0175509
31 Jul_02 -0.0581 0.00631727 0.0088485 0.0106524 0.0200797
30 Jun_02 0.0422 0.00700948 0.0112748 0.014189 0.0243974
29 May_02 -0.0760 0.00182934 -0.006931 -0.011078 -0.017198
28 Apr_02 0.0514 0.00343439 0.0021968 0.0007391 -4.134E-05
27 Mar_02 -0.0332 0.0073968 0.0077181 0.0027173 0.0114145
26 Feb_02 0.0908 0.00473479 0.0063219 0.0183639 0.0269655
25 Jan_02 0.0095 0.00754831 0.0136092 0.0206953 0.0348827
24 Dec_01 0.0136 0.00436681 0.0006718 0.0002568 -0.007498
23 Nov_01 0.1026 0.00291971 0.0027557 0.023931 0.0764848
22 Oct_01 0.0755 0.00611995 0.0065956 0.0169555 0.0370243
21 Sep_01 -0.0496 0.00473467 -0.007889 0.0009101 0.0056444
20 Aug_01 0.0085 0.00774569 0.0156522 0.0157703 0.0166616
19 Jul_01 -0.0495 0.00724004 0.01635 0.0241715 0.0034854
18 Jun_01 -0.0885 0.00925984 0.0192382 0.0249458 0.0305034
17 May_01 0.0417 0.00998855 0.015817 0.0226503 0.0405135
16 Apr_01 -0.0716 0.00737038 0.0095012 0.0093689 0.0162933
15 Mar_01 -0.1890 0.00690501 0 -5.892E-05 0.0008815
14 Feb_01 -0.0230 0.0095114 0.0171812 0.0282322 0.0338915
13 Jan_01 0.0381 0.01020072 0.0149864 0.021727 0.0331313
12 Dec_00 -0.1084 0.00849539 0.0138122 0.022792 0.0348965
11 Nov_00 -0.0106 0.00823073 0.0106086 0.0154291 0.0155863
10 Oct_00 -0.1212 0.01048076 0.00498 0.0128931 0.0044732
9 Sep_00 -0.1215 0.00935026 0.0028135 0.0074788 -0.003652
8 Aug_00 0.1143 0.0063878 0.002963 0.0046135 -0.003085
7 Jul_00 -0.1624 0.00503935 -0.008325 -0.013267 -0.022441
6 Jun_00 0.1193 0.00821269 0.0067615 -0.003047 0.0049712
5 May_00 -0.1083 0.00672646 0.0083807 -0.003682 -0.016222
4 Apr_00 -0.2480 0.00926384 0.0162396 0.0236049 0.0320694
3 Mar_00 -0.1245 0.00626201 0.0027502 -0.00244 -0.01138
2 Feb_00 0.2399 0.01049831 0.014613 0.0257087 0.0375024
1 Jan_00 0.0038 0.00753459 0.0065785 0.0169946 0.0170808

Birla Tax Plan '98 Mean R _fund


Growth 0.00902

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708

Birla Tax Plan '98 Mean R _fund


Growth 0.00916

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708
Birla Tax Plan '98 Mean R _fund
Growth 0.00845

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708

Birla Tax Plan '98 Mean R _fund


Growth 0.00856

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708

Birla Tax Plan '98 Mean R _fund


Growth 0.00737

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708

Birla Tax Plan '98 Mean R _fund

Growth
0.00511

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708

Birla Tax Plan '98 Mean R _fund


Growth 0.00516

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708
Birla Tax Plan '98 Mean R _fund
Growth 0.00433

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708

Birla Tax Plan '98 Mean R _fund


Growth 0.00358

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708

Birla Tax Plan '98 Mean R _fund

Growth

0.00310

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708

Birla Tax Plan '98 Mean R _fund


Growth 0.00267

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708

Birla Tax Plan '98 Mean R _fund


Growth 0.00499

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708
Birla Tax Plan '98 Mean R _fund
Growth 0.00406

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708

Birla Tax Plan '98 Mean R _fund

Growth

0.00449

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708

Birla Tax Plan '98 Mean R _fund


Growth 0.00626

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708

Birla Tax Plan '98 Mean R _fund


Growth 0.00787

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708

Birla Tax Plan '98 Mean R _fund

Growth 0.00358

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708
Birla Tax Plan '98 Mean R _fund

Growth
0.00095

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708

Birla Tax Plan '98 Mean R _fund

Growth -0.00084

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708

Birla Tax Plan '98 Mean R _fund

Growth -0.00268

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708

Birla Tax Plan '98 Mean R _fund

Growth -0.00534
R_fund TB Bond_1_3 Bond_3_8 Bond_8
66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708

Birla Tax Plan '98 Mean R _fund

Growth

-0.00651

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708
Birla Tax Plan '98 Mean R _fund

Growth -0.00914

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708

Birla Tax Plan '98 Mean R _fund

Growth -0.01415

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708

Birla Tax Plan '98 Mean R _fund

Growth -0.01595

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708

Birla Tax Plan '98 Mean R _fund


Growth

-0.01490

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708

Birla Tax Plan '98 Mean R _fund

Growth -0.01558

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708

Birla Tax Plan '98 Mean R _fund

Growth -0.01608

R_fund TB Bond_1_3 Bond_3_8 Bond_8


66 Jun_05 0.0029 0.00517 0.00486 0.01228 0.02488
65 May_05 0.0803 0.00322 0.00384 0.01090 0.00696
64 Apr_05 -0.0048 0.00445 -0.01241 -0.01366 -0.03740
63 Mar_05 0.0004 0.00647 0.00942 0.00202 -0.00119
62 Feb_05 0.0528 0.00532 0.00909 0.01853 0.02846
61 Jan_05 0.0016 0.00442 -0.00094 -0.00630 -0.01927
60 Dec_04 0.0788 0.00253 0.00230 0.01944 0.05324
59 Nov_04 0.1382 0.00414 -0.00948 -0.00612 -0.02364
58 Oct_04 0.0022 0.00877 -0.00556 -0.01217 -0.03500
57 Sep_04 0.0516 0.00199 -0.00441 -0.00277 -0.00303
56 Aug_04 0.0455 0.00289 0.00103 0.00383 -0.00278
55 Jul_04 0.0298 0.00152 -0.00815 -0.02519 -0.01002
54 Jun_04 0.0258 0.00640 0.00946 -0.00716 -0.02644
53 May_04 -0.1182 0.00233 -0.00149 -0.00955 -0.03003
52 Apr_04 0.0524 0.00287 0.00128 0.00213 0.00774
51 Mar_04 -0.0171 0.00669 0.01054 0.01073 0.02549
50 Feb_04 -0.0825 0.00864 0.01209 0.00106 -0.00059
49 Jan_04 -0.0712 -0.00323 -0.00989 -0.00034 -0.00848
48 Dec_03 0.2095 0.00617 0.01052 0.00493 0.02070
47 Nov_03 0.1247 0.00217 -0.00315 -0.00545 -0.01516
46 Oct_03 0.0814 0.00239 0.00105 0.00412 0.00134
45 Sep_03 0.0801 0.00558 0.01502 0.01133 0.01376
44 Aug_03 0.1119 0.00384 0.00482 0.01782 0.02715
43 Jul_03 0.0436 0.00463 0.01131 0.01149 0.00970
42 Jun_03 0.1014 0.00343 0.01880 0.00698 0.01092
41 May_03 0.1911 0.00389 0.00924 0.01029 0.01723
40 Apr_03 0.0562 0.00761 0.01629 0.02506 0.03667
39 Mar_03 -0.0561 0.00784 0.01679 0.00574 -0.00220
38 Feb_03 0.0103 0.00374 0.00202 0.00794 0.00897
37 Jan_03 0.0025 0.00187 -0.00647 -0.01145 -0.01523
36 Dec_02 0.0679 0.00404 0.00000 0.01153 0.02976
35 Nov_02 0.0862 0.00240 -0.00120 0.00625 0.02620
34 Oct_02 0.0009 0.00615 0.01022 0.01614 0.02500
33 Sep_02 -0.0643 0.00572 0.00342 0.00379 0.00463
32 Aug_02 0.0225 0.00610 0.00877 0.01345 0.01755
31 Jul_02 -0.0581 0.00632 0.00885 0.01065 0.02008
30 Jun_02 0.0422 0.00701 0.01127 0.01419 0.02440
29 May_02 -0.0760 0.00183 -0.00693 -0.01108 -0.01720
28 Apr_02 0.0514 0.00343 0.00220 0.00074 -0.00004
27 Mar_02 -0.0332 0.00740 0.00772 0.00272 0.01141
26 Feb_02 0.0908 0.00473 0.00632 0.01836 0.02697
25 Jan_02 0.0095 0.00755 0.01361 0.02070 0.03488
24 Dec_01 0.0136 0.00437 0.00067 0.00026 -0.00750
23 Nov_01 0.1026 0.00292 0.00276 0.02393 0.07648
22 Oct_01 0.0755 0.00612 0.00660 0.01696 0.03702
21 Sep_01 -0.0496 0.00473 -0.00789 0.00091 0.00564
20 Aug_01 0.0085 0.00775 0.01565 0.01577 0.01666
19 Jul_01 -0.0495 0.00724 0.01635 0.02417 0.00349
18 Jun_01 -0.0885 0.00926 0.01924 0.02495 0.03050
17 May_01 0.0417 0.00999 0.01582 0.02265 0.04051
16 Apr_01 -0.0716 0.00737 0.00950 0.00937 0.01629
15 Mar_01 -0.1890 0.00691 0.00000 -0.00006 0.00088
14 Feb_01 -0.0230 0.00951 0.01718 0.02823 0.03389
13 Jan_01 0.0381 0.01020 0.01499 0.02173 0.03313
12 Dec_00 -0.1084 0.00850 0.01381 0.02279 0.03490
11 Nov_00 -0.0106 0.00823 0.01061 0.01543 0.01559
10 Oct_00 -0.1212 0.01048 0.00498 0.01289 0.00447
9 Sep_00 -0.1215 0.00935 0.00281 0.00748 -0.00365
8 Aug_00 0.1143 0.00639 0.00296 0.00461 -0.00309
7 Jul_00 -0.1624 0.00504 -0.00833 -0.01327 -0.02244
6 Jun_00 0.1193 0.00821 0.00676 -0.00305 0.00497
5 May_00 -0.1083 0.00673 0.00838 -0.00368 -0.01622
4 Apr_00 -0.2480 0.00926 0.01624 0.02360 0.03207
3 Mar_00 -0.1245 0.00626 0.00275 -0.00244 -0.01138
2 Feb_00 0.2399 0.01050 0.01461 0.02571 0.03750
1 Jan_00 0.0038 0.00753 0.00658 0.01699 0.01708
Intercept
0.0167063

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.01758088
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.00964434
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.0210737
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.0393493
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.00608057
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.00966415
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.07169259
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.03455557
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.02175266
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.00261457
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.0409486
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.04695047
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.01616746
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.0487144
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.01819084
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.04641659
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.14673314
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 0.00560872
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.03174992
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.04387105
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.00993224
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.03725436
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.02615161
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.04232987
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.01937914
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.02172466
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.02475964
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 0.00622379
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.00442357
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 0.0094461
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.04771409
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.01898959
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.02275994
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.02225868
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.00260539
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.04604085
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.0078786
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.06540895
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.04133736
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.10088973
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.02013054
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.02049191
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.03091417
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.02237981
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.01370346
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.032333
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.02150846
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 0.00730277
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.01947963
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.02409131
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.1187108
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 0.00198132
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.06457242
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.02338235
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.12243439
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.08820392
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.0921581
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.07522671
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.05739053
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.07845707
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.01728725
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.11170487
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.05225977
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.0291485
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.17216739
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.04943423

Variance_ei
_rolling30
0.00257091

Intercept
0.01622617
Large Cap Large Cap European Japanese
Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.01709814
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.00916966
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.02155227
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.03887242
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.00560169
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.0091844
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.07122134
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.03502733
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.02127388
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.00214122
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.04047864
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.04648203
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.01568398
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.04822965
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.01866946
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.04593108
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.14625563
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 0.00610037
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.03221846
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.04433919
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.00945671
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.03773023
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.02567591
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.04185156
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.0189019
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.02219622
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.02428864
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 0.00670751
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.00394291
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 0.00992576
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.04818613
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.0185119
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.02323555
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.02177475
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.00212912
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.04652663
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.007413
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.06492316
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.04086098
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.10041068
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.01965432
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.02001901
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.03139648
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.02190818
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.01322466
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.03281436
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.02198113
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 0.00778157
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.01899241
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.02362201
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.11822605
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 0.00248557
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.06410278
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.02386316
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.12196052
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.08772973
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.09168142
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.07474693
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.0578742
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.0779765
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.01776523
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.11123343
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.05176893
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.02865379
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.17264423
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.04895461

Variance_ei
_rolling30
0.00261107

Intercept
0.0168315

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.0451739 0.0751415 -0.006079 0.1021159 -0.000143 0.0300564 0.0272618 -0.01773016
0.0555077 0.0348364 0.0938806 0.0014739 0.029952 0.0338005 0.0243158 -0.00971928
0.0861291 0.0719812 -0.036652 0.089483 -0.020109 -0.01894 -0.056565 0.02096289
-0.02455 -0.06622 0.0353564 0.0105646 -0.019118 -0.014914 -0.006103 -0.03944454
-0.046178 -0.029676 0.0469189 -0.013616 0.0189034 0.0239474 0.0309995 -0.00619427
0.0232824 0.0465306 -0.003987 0.0765414 -0.02529 0.0078932 -0.008806 -0.00978586
-0.009916 -0.029367 0.167391 -0.027269 0.0324581 0.0236222 0.0540872 -0.07173593
0.0703063 0.0915545 0.1185935 0.1342996 0.0385949 0.017084 0.0118675 0.03450748
0.1132025 0.0689771 0.0123657 0.1434506 0.0140142 0.0116829 -0.004818 -0.02186545
0.0079401 0.0149929 0.0631573 0.0183257 0.0093639 0.0250039 -0.023301 -0.0026773
0.0798229 0.0697488 0.1082266 0.0821726 0.0022873 0.0104688 -0.021543 -0.04098004
0.0098121 0.0065687 0.1043035 0.1165472 -0.034291 -0.011424 -0.044953 -0.04696783
0.0369993 0.1201182 0.0126057 0.0935539 0.0179891 0.0075383 0.0554005 -0.01632358
-0.040631 0.0387498 -0.103641 0.0061371 0.0120834 -0.013141 -0.044672 -0.0488822
-0.151699 -0.243251 0.0232446 -0.153083 -0.016791 0.0237134 0.0039606 0.01807957
0.0005289 0.0283855 -0.007728 0.0825119 -0.016359 -0.023708 0.0609921 -0.04659144
-0.044744 0.0492718 0.0574931 -0.070344 0.012209 0.023117 0.0239539 -0.1468341
-0.005575 -0.017691 -0.137082 -0.08562 0.0172764 -0.019254 0.0100191 0.00537724
-0.065258 -0.026261 0.2048875 -0.128462 0.0507655 0.0309262 0.0570334 0.03173154
0.1624927 0.2134735 0.1094749 0.2043871 0.0071285 0.0128277 -0.043469 0.04385635
0.0260242 0.0424987 0.0920591 0.1425423 0.0549615 0.0479799 0.033324 -0.010015
0.0450178 0.0864514 0.0422559 0.0242204 -0.011944 -0.016774 -0.012036 0.03716839
-0.014146 0.0645283 0.1381236 0.0456578 0.0178732 0.0009863 0.0815981 -0.02623597
0.1994464 0.2072099 0.0761551 0.1277193 0.0162237 0.0312066 0.0528563 -0.04243823
0.0385756 0.0785883 0.1150176 0.0121177 0.0113222 -0.004175 0.0781767 -0.01947772
0.0941772 0.1331128 0.1851104 0.1403545 0.0508987 0.0311004 0.0757321 0.02167848
0.1582124 0.2418458 0.0988166 0.2264888 0.0810441 0.0865414 -0.017722 -0.02480064
-0.017743 0.05771 -0.092617 0.0660625 0.0083576 -0.011571 -0.046673 0.00606539
-0.080665 -0.077178 -0.003944 -0.120408 -0.017004 0.0247239 0.0027698 -0.00455361
0.0182411 0.0236265 -0.02184 0.014995 -0.027415 -0.09466 -0.02786 0.00932525
-0.032627 0.0100589 0.0340794 -0.051332 -0.060333 -0.054924 -0.06908 0.04766342
0.0322615 0.0905331 0.0977583 -0.047541 0.0570696 0.0321063 0.0665565 -0.01909224
0.0496578 0.0845911 -0.021428 0.1055489 0.0864488 0.0854157 -0.079163 0.02267646
0.0065232 0.0208367 -0.073117 -0.036802 -0.110024 -0.11958 -0.024535 -0.02241898
-0.078058 -0.071758 0.0230043 -0.060923 0.0048814 -0.004451 -0.026184 -0.00269505
0.0340513 0.0398144 -0.142207 -0.02721 -0.079004 -0.088094 -0.070035 0.04586351
-0.053987 -0.104568 0.0883488 -0.152079 -0.072455 -0.084305 -0.097066 -0.00786984
0.0217633 0.0968838 -0.048691 0.348453 -0.009081 -0.015584 0.0235944 -0.06558638
-0.06512 0.0164429 0.0902301 0.0517463 -0.061418 -0.020145 0.0424129 -0.04142801
-0.040779 0.1027817 0.0550201 0.1828315 0.0367389 0.0334836 0.0412842 -0.101005
-0.008746 0.0781943 0.1090044 0.035052 -0.020766 -0.012353 0.059016 -0.02021962
0.070925 0.2536888 0.0405976 0.0582474 -0.015574 -0.010082 -0.051678 -0.02055043
0.0111928 0.0476611 -0.042302 0.0004159 0.0075738 0.002652 -0.014473 0.03076887
0.0226601 -0.055533 0.1403742 -0.045081 0.075176 0.0325218 0.0319399 -0.02242667
0.1069141 0.0842387 0.077489 0.1901099 0.018099 0.027797 0.0605299 -0.0138164
0.0549553 0.0543107 -0.103324 0.0877592 -0.081723 -0.082619 -0.08763 0.03219647
-0.147833 -0.092673 -0.00154 -0.090427 -0.064108 -0.033297 -0.096727 0.02145203
-0.013309 -0.031393 -0.068526 -0.096189 -0.01074 -0.020097 -0.085456 0.0071898
-0.036407 -0.044098 -0.112572 0.1162127 -0.025035 -0.026501 -0.0221 -0.01967019
-0.06148 -0.058267 0.0900262 -0.164626 0.0050902 -0.028625 -0.048239 -0.02411661
0.0451133 0.0721249 0.0128816 0.1088222 0.0768144 0.0591441 0.0718955 -0.11887863
-0.035543 0.0236243 -0.298944 -0.243228 -0.064205 -0.048024 0.0090162 0.00163363
-0.164783 -0.147396 0.0645575 0.2614177 -0.092291 -0.060278 -0.069347 -0.06460087
-0.013578 0.0534042 -0.004582 -0.217527 0.0346366 0.012053 0.0041971 0.02325081
0.0896168 0.1289979 0.0210221 -0.033051 0.0040534 0.0130735 -0.058902 -0.12250184
-0.009624 0.0486988 0.0834028 0.001987 -0.080069 -0.046005 0.0074906 -0.08827427
0.0785509 0.1268903 -0.032704 0.1078377 -0.004949 0.02291 -0.07669 -0.09225152
-0.112083 -0.013976 -0.061667 -0.056152 -0.053483 -0.056724 -0.066069 -0.07534873
-0.115892 -0.10542 0.0267862 -0.075766 0.060699 0.0482931 0.0720884 0.0572326
0.0648734 -0.018105 -0.102303 0.0695243 -0.016341 0.0083324 -0.096695 -0.07858632
-0.109292 -0.020083 0.0934327 -0.046963 0.0239335 -0.007328 0.0660403 0.01718184
0.0665053 0.0973106 0.0195668 0.0277423 -0.021915 0.0050416 -0.091314 -0.11174996
-0.091898 -0.011637 -0.252961 -0.003674 -0.030796 -0.032537 -0.116221 -0.05248376
-0.151749 -0.104672 -0.167188 -0.141762 0.0967199 0.0493534 0.0189283 -0.02940816
-0.103153 -0.124319 0.0635046 -0.077443 -0.020108 -0.005727 0.0214855 0.17207255
0.1106375 -0.083918 0.0384837 0.0367316 -0.050904 -0.095481 0.0319715 -0.04955472

Variance_ei
_rolling30
0.00265133

Intercept
0.0169217

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.01780689
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.00983759
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.02086464
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.0395515
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.0062909
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.00987801
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.07187192
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.03437415
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.02196259
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.00280244
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.04112268
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.04711834
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.01639649
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.04894857
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.01798158
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.04665387
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.14693786
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 0.00534648
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.03158159
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.04370435
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.01012894
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.03705625
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.02634901
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.04253784
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.01958281
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.02154409
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.02493793
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 0.00599376
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.0046411
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 0.00923262
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.04753153
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.01919505
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.02256293
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.02248955
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.00280513
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.04580247
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.00803496
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.06564737
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.04153754
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.10110075
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.02033002
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.02067792
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.03068992
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.02256069
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.01391346
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.03211261
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.02132337
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 0.00709276
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.01972383
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.02426268
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.11894499
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 0.00166787
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.06474518
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.02316415
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.12262434
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.08839514
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.0923595
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.07544071
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.0571607
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.07867426
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.01708057
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.11188497
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.0525187
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.02942315
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.17196537
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.04964756

Variance_ei
_rolling30
0.0026686

Intercept
0.01743257

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.01829389
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.01039828
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.02033951
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.04009206
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.00681317
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.01039233
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.07246392
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.03378685
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.02248577
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.00337522
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.04172647
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.04773609
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.01687672
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.04941722
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.0174569
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.04711554
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.14747274
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 0.00494095
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.03096485
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.04308396
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.01068187
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.0365065
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.02690036
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.0430654
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.02012006
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.02095489
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.02553225
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 0.00551579
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.00514717
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 0.00871743
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.04694679
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.01972826
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.02201071
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.02296563
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.00335122
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.04534328
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.0086786
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.06610648
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.04208265
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.10162146
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.02087669
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.02125487
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.03019897
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.02314921
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.01443648
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.03161297
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.02074434
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 0.00656976
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.02016992
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.02487256
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.1194136
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 0.00137752
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.06535194
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.02265957
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.12319244
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.08896037
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.09290187
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.07595473
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.05668227
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.07918111
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.01655009
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.11247524
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.05293166
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.02980075
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.17142441
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.05016309

Variance_ei
_rolling30
0.00270545
Intercept
0.0173993

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.01825293
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.01038104
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.02036819
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.04006835
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.00678357
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.01036018
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.07245677
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.03379552
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.02245646
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.00336188
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.04172312
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.04773723
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.01683358
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.04937036
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.01748572
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.04706643
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.14744721
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 0.00500812
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.03096404
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.04308197
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.01066214
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.03652725
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.02688012
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.0430375
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.02009529
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.02096295
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.02552585
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 0.00555964
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.00511235
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 0.00874931
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.04695628
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.01970219
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.02203067
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.02292117
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.00332929
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.04539318
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.00868807
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.06605655
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.0420604
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.10159136
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.02085494
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.02124287
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.03023865
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.02314093
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.01440712
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.03164986
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.02075566
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 0.00659913
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.0201158
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.02487116
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.11936673
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 0.00148177
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.06534953
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.02269486
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.12317759
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.0889446
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.09287874
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.07592248
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.05672598
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.07914655
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.01657704
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.11246753
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.05286687
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.02972459
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.17144799
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.05013132

Variance_ei
_rolling30
0.00274785

Intercept
0.01643223

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.0172729
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.00944101
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.02132752
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.03911739
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.00582269
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.00939498
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.07153374
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.03472111
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.02149607
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.00242842
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.04080649
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.04682817
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.01584987
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.04838036
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.0184453
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.04607264
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.14649317
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 0.00603238
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.03187363
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.04398959
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.0097179
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.03747322
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.02593502
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.04207949
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.01914253
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.0218875
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.02460408
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 0.00654458
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.00414267
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 0.00971405
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.04788325
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.01874724
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.02297531
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.02193521
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.00238134
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.04638831
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.00779308
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.06506138
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.04111192
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.10062963
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.0199073
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.02031167
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.03121655
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.02221601
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.01344664
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.03262303
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.02168573
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 0.00755962
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.01911355
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.02395784
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.11837672
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 0.00256856
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.06443451
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.02366534
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.12224159
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.08800704
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.09192876
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.07495711
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.05771066
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.0781773
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.01753347
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.11154356
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.05184664
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.02868516
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.17239873
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.04916678

Variance_ei
_rolling30
0.00279296

Intercept
0.02026311

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.02076905
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.01397031
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.01729672
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.04336451
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.0098134
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.01327424
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.07650216
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.02981873
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.02549947
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.00712732
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.04594022
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.05215754
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.01925111
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.05161922
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.01442081
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.0492136
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.15066078
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 0.00367833
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.02655834
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.03862319
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.01413846
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.03309726
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.03033341
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.04614428
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.02334329
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.0169585
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.02960497
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 0.00317496
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.00790615
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 0.00582272
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.04301668
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.02289139
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.01856478
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.02527835
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.00670605
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.04328201
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.01348547
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.06816654
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.04542287
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.10459842
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.02424005
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.02506897
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.02766505
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.02713554
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.01744778
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.02894971
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.0168992
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 0.00355877
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.02203612
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.02917686
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.12161512
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 0.00182948
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.06960975
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.0199226
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.12687488
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.09260006
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.09620125
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.0788322
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.0543346
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.08195188
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.01342757
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.11648765
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.0543047
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.0306475
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.16814599
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.05306305

Variance_ei
_rolling30
0.00279149

Intercept
0.02132588

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.02215364
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.01429202
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.01637087
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.04403317
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.01071104
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.01425681
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.07644342
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.02992053
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.02629849
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.00739948
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.04577997
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.05185528
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.02048145
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.05330995
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.01353669
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.05084433
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.15131586
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 0.0012206
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.02706885
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.03898253
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.01452156
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.03249022
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.03066831
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.04684249
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.02383266
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.01715816
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.02968642
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 0.00151988
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.00905454
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 0.00478005
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.04266459
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.02352028
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.01774752
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.02691175
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.00741938
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.04122571
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.01309578
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.06981601
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.04588115
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.10543246
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.02470931
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.02549027
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.02630574
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.02726634
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.01826983
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.02744129
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.01642305
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 0.00238601
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.02415624
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.02915084
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.12308738
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 -0.00224904
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.06967194
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.01868297
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.12744071
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.09293842
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.09708259
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.080046
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.05305873
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.08330143
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.01282561
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.11668948
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.0571799
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.03345372
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.16744824
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.05401511

Variance_ei
_rolling30
0.00279189

Intercept
0.02576851

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.0265952
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.01876026
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.01194619
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.04847508
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.01515803
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.01871091
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.08089903
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.02542932
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.03077456
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.01183011
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.05021681
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.05627726
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.02500521
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.05773093
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.00909597
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.0553168
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.15578777
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 -0.00322568
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.02257239
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.03455321
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.01900395
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.02806882
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.035174
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.0513328
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.02834966
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.01264258
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.03408453
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 -0.00287125
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.01348995
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 0.00035001
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.03831446
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.0280085
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.01340783
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.03131863
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.01182146
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.03688518
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.01743101
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.07429363
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.05037334
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.10990783
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.02919084
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.0298521
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.02187339
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.03167389
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.02273888
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.02309803
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.01208901
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 -0.00196527
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.02853411
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.03351529
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.12758193
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 -0.00666728
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.07402075
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.01427158
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.13179364
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.09738068
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.10144491
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.08442373
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.04854222
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.08766569
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.0083161
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.1210653
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.06145261
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.0379082
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.1630179
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.05847402

Variance_ei
_rolling30
0.00284163
Intercept
0.02505354

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.02595956
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.01786155
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.01269405
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.04766306
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.01440218
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.01797566
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.07990719
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.02643343
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.02999306
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.01092095
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.04920084
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.05522699
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.02432774
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.05717167
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.00985485
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.05474035
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.15497101
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 -0.00285418
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.02367743
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.03561788
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.0181197
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.02889506
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.03427679
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.0505258
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.02748997
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.01367193
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.0331299
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 -0.0023046
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.01279642
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 0.00106934
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.03920019
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.02718452
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.01417848
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.0307459
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.0110223
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.03735064
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.01636324
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.07372156
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.04950715
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.109135
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.02832785
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.02898287
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.02251483
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.03073098
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.02196339
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.02369858
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.01294342
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 -0.00128166
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.02808263
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.03253575
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.12696542
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 -0.00669636
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.07306367
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.01494153
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.13096043
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.09648728
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.10068899
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.083749
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.04920814
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.08702502
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.0091477
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.12014137
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.06119205
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.03762217
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.16382222
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.05773102

Variance_ei
_rolling30
0.00288833

Intercept
0.02649401

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.02721521
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.01974648
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.01118993
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.04932823
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.0159406
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.01947132
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.0819993
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.02428769
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.03161155
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.01280356
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.05133568
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.0574309
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.02573855
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.05823556
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.00831381
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.0558805
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.15666839
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 -0.00350028
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.02129378
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.03337537
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.01998108
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.02721138
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.0361847
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.05221352
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.02931881
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.0114504
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.03509502
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 -0.00336455
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.01418207
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 -0.00037237
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.03742886
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.02891016
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.01268154
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.03183109
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.01262947
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.03656126
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.01854643
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.0748552
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.05133355
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.1107329
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.03013928
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.03072418
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.02125224
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.03267559
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.02356299
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.02259381
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.01125612
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 -0.00258483
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.02886595
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.03453487
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.12821414
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 -0.00639315
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.07499963
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.0136276
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.13261187
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.09834152
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.10216774
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.08505025
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.04782926
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.08823771
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.00738933
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.12201952
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.06145807
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.03807574
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.16218311
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.05924805

Variance_ei
_rolling30
0.00293282

Intercept

0.02674287

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.02716964
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.02061525
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.01076968
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.04994272
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.01633096
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.01976544
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.08325097
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.02308554
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.03202004
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.01381238
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.05272813
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.05899172
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.02562926
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.05795895
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.00789526
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.05553018
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.15722018
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 -0.00245213
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.01972749
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.03178025
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.02075769
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.02648858
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.03694739
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.05267937
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.02991053
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.01021901
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.03636146
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 -0.00319571
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.01436997
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 -0.00067133
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.03629196
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.02944524
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.01194792
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.03164275
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.01330262
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.03697363
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.02040551
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.07447465
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.05201618
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.11111079
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.03083851
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.03176785
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.02125138
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.03387279
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.02396782
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.02250721
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.01019341
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 -0.0029612
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.02830105
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.03598494
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.12795475
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 -0.00391901
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.07640748
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.01346368
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.13354443
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.09926008
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.10278546
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.08532241
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.04796241
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.08841833
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.00688276
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.1232307
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.06045976
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.03668532
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.16156645
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.05955827

Variance_ei
_rolling30
0.00297174

Intercept
0.02670548

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.02712192
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.02056399
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.01077279
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.04992124
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.01629266
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.0197124
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.08323447
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.02315828
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.03193816
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.0138241
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.05274595
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.05903902
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.02545371
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.0579332
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.00792288
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.05542299
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.15715045
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 -0.00235651
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.01979346
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.03174274
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.02068112
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.02647441
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.03683477
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.05257812
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.02977374
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.01032769
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.03643317
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 -0.0032198
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.01434108
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 -0.00065514
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.0361524
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.02934998
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.01180884
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.03164205
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.01334421
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.03688233
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.02059708
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.07435839
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.05192086
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.11102874
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.03076012
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.0318858
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.02128318
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.0339273
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.02389648
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.02239981
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.01003235
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 -0.00306813
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.02832929
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.0361154
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.12781761
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 -0.00380825
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.07656005
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.01345693
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.13367143
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.09925042
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.10288537
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.08538483
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.04812788
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.08849755
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.0070116
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.12333412
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.06063062
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.03656333
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.1615702
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.05949854

Variance_ei
_rolling30
0.00302871

Intercept
0.02969761

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.03029697
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.02315664
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.00787571
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.05268749
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.01919452
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.02266946
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.08559788
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.02078612
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.03481092
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.01635319
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.05503375
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.06123173
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.02861764
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.06126392
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.00503461
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.05876768
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.15993706
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 -0.00614926
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.01764995
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.02957577
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.02332212
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.0237626
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.03947005
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.05540662
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.03250789
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.00798862
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.0388228
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 -0.00650217
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.01737539
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 -0.003624
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.03365308
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.03213691
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.00905346
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.0349268
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.01609865
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.03341809
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.02265853
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.07771861
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.054614
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.11392086
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.03344954
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.03443563
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.0181312
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.03635398
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.02677582
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.01924612
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.00747721
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 -0.00603752
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.03186498
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.03841206
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.13109243
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 -0.00850095
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.07889246
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.010393
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.13629552
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.10182824
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.10569857
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.08840246
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.04494472
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.09158013
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.00422012
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.12577166
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.06449927
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.04056291
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.15879818
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.06244268

Variance_ei
_rolling30
0.00307076
Intercept
0.03001695

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.03021453
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.02315355
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.00651343
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.05237009
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.01883913
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.0230047
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.08583707
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.01987012
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.0353906
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.01718431
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.0554896
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.06247381
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.02774736
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.06172502
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.00477349
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.05805114
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.15925229
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 -0.0069762
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.01818723
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.02873822
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.02343626
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.02436929
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.03917879
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.05466799
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.03109179
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.00858587
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.03833225
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 -0.00578298
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.01757373
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 -0.00449804
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.03270102
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.03234859
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.00886861
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.03511274
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.01605031
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.03331794
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.02296833
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.07826601
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.05457602
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.11351419
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.03316486
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.03430118
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.01784655
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.0368061
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.02649029
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.01783948
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.00761255
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 -0.0056496
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.03097182
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.03816459
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.1303502
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 -0.00851657
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.07862016
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.01103288
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.13617561
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.10146914
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.10613383
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.08886161
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.04529854
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.09292253
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.00471671
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.12597733
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.06431828
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.04035441
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.15943904
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.06219724

Variance_ei
_rolling30
0.00310299

Intercept

0.03009635

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.03088622
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.02321114
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.00763306
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.05284469
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.01951107
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.02306644
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.08537052
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.02089435
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.03518638
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.01622429
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.05466836
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.06071974
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.02944879
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.06195463
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.00475179
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.05963205
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.1602084
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 -0.00740759
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.01798421
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.03009241
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.02347152
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.02372637
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.03968528
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.05577911
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.0328628
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.00805671
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.03844578
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 -0.00704954
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.01779656
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 -0.00395925
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.03406194
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.03245891
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.0092232
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.0355253
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.01612042
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.03283416
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.02173974
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.07861535
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.05484891
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.11431468
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.0336476
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.0341164
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.01759483
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.03604537
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.0271366
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.01898282
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.00787656
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 -0.0061303
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.03263981
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.03783265
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.13195091
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 -0.01062629
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.07830268
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.0100146
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.1360275
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.10178684
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.10565991
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.08862795
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.04411557
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.09183288
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.0038276
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.12537664
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.0653024
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.04206568
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.15867058
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.06284083

Variance_ei
_rolling30
0.00315349

Intercept
0.0289174

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.02957458
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.02230905
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.00873275
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.05183075
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.01839548
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.02190667
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.08464251
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.02164854
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.03407582
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.01538944
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.05400588
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.06013482
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.02809952
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.06054099
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.00585399
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.0581796
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.15916294
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 -0.0056432
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.01857471
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.03066265
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.02252633
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.02468923
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.0387313
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.05469289
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.03183047
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.00880034
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.03773065
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 -0.00568774
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.01659089
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 -0.00280426
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.03483032
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.03140415
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.01017237
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.034153
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.01513723
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.03430035
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.02129873
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.07714871
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.05386027
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.1131904
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.0326676
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.0333047
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.01888453
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.03529798
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.02602515
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.02022423
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.00867667
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 -0.00501873
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.0311008
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.03720399
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.1305371
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 -0.0082217
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.07765666
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.01122848
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.13516664
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.10091002
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.10465602
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.08746652
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.04547482
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.09063161
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.00489753
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.12463899
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.06357924
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.04014601
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.15968229
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.0616878

Variance_ei
_rolling30
0.00286647

Intercept
0.03969035

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.04001995
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.03376546
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 -0.00223583
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.06301102
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.02932483
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.03272696
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.09652864
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.00982704
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.04501759
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.02701182
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.06605378
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.07237417
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.03845202
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.07073458
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 -0.00510841
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.06827738
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.1702654
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 -0.01497091
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.00634913
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.01838706
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.03387634
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.01338288
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.05005959
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.06569474
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.04296537
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 -0.00304722
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.04964855
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 -0.01600929
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.02729787
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 -0.01363635
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.02304386
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.04248364
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 -0.00116781
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.04444865
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.02639344
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.02423648
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.03389333
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.08721147
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.065103
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.1240983
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.04393167
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.04498423
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.008385
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.04713626
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.03696471
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.00960547
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 -0.00303147
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 -0.01595801
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.04098486
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.04933536
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.14073024
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 -0.015969
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.08974519
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.00054179
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.14672482
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.11242878
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.11586112
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.09828271
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.03514696
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.10134946
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 -0.00614454
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.13650131
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.07300874
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.0490904
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.14849652
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.07252472

Variance_ei
_rolling30
0.0029161

Intercept

0.03969851

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.04054714
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.0326907
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 -0.00193401
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.06237378
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.02908517
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.03266011
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.09477299
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.01148028
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.04475825
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.02567408
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.06404182
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.07005885
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.03912637
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.07166071
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 -0.00481638
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.06935532
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.16975145
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 -0.017269
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.00864262
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.02075979
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.03297017
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.01421989
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.04918782
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.06534021
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.04240003
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 -0.00135269
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.04784256
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 -0.01673267
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.02741055
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 -0.0135508
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.02464158
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.04200608
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 -0.00027721
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.04521308
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.02563589
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.02310481
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.03101513
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.0883449
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.0643668
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.12389263
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.04316166
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.04355594
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.00794362
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.04545643
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.03670887
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.009353
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 -0.00155784
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 -0.01570262
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.04240142
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.04719114
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.14165708
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 -0.02077119
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.08766885
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.00039697
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.14548881
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.11125521
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.11518455
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.09822235
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.03443357
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.10144492
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 -0.00572628
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.13478339
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.07514555
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.05199585
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.14914247
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.07243151

Variance_ei
_rolling30
0.00293155
Intercept
0.03215235

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.02850329
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.02703472
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 -0.0014253
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.0571116
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.02116975
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.02248254
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.0922818
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.0161423
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.03491897
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.02907299
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.06914118
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.07788613
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.01316348
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.06722733
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.00255938
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.04609244
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.15944531
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 0.00154213
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.01348316
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.01069147
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.02557361
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.0143921
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.03154506
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.04955691
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.02129869
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.01075029
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.06353837
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 -0.01767688
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.01892146
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 -0.00840188
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.00963144
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.02922885
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 -0.0254324
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.0327807
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.03037311
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.02143703
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.05579795
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.06746102
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.04501576
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.11209909
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.02743598
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.05806497
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.01437472
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.0548386
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.02320789
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.0026278
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 -0.02022247
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 -0.02899894
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.03748774
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.06615061
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.12211846
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 0.01230486
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.10279979
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.00155535
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.16245915
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.1028551
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.12865678
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.1017902
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.0574942
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.11148661
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.01306577
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.15115882
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.08936959
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.03437443
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.15480725
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.05655643

Variance_ei
_rolling30
0.00321944

Intercept

0.0305539

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.03220878
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.02186387
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.00769213
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.05222661
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.0195556
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.02339897
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.08288847
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.02320574
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.0351981
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.01443872
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.05175912
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.05730493
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.03101662
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.06394208
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.00479455
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.0618725
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.1597958
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 -0.01168158
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.02136264
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.0336029
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.02240523
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.0246774
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.03867631
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.05563219
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.03236453
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.01043691
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.03587982
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 -0.00869908
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.0184283
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 -0.00426061
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.03628079
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.03210695
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.01026355
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.03724327
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.01530181
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.03050415
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.01738681
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.0809483
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.05406587
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.11441586
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.03280823
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.03217992
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.01641527
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.03368966
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.02715416
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.01811811
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.00988859
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 -0.00614861
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.03544462
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.03470299
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.13393954
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 -0.01907367
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.07528616
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.00932928
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.13441148
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.10027489
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.10497628
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.08897129
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.04248269
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.09243591
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.00408073
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.12295746
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.0693076
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.04735189
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.15930319
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.06312942

Variance_ei
_rolling30
0.00297342

Intercept

0.02656565

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.02842147
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.01745637
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.01180039
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.04798849
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.01547141
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.01938168
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.07821736
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.02783721
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.03110629
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.00992941
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.04698877
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.05241714
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.02728629
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.06030923
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.00889902
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.05829842
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.15560542
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 -0.00857988
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.02624198
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.03851292
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.01806299
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.02899285
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.03434739
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.05150353
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.02815425
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.01508436
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.03118922
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 -0.00498773
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.01448051
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 -0.00023608
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.04089076
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.02793066
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.01459976
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.03354781
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.01101712
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.03405743
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.0122811
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.0773957
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.04978944
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.11034483
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.02851871
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.02763555
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.0202358
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.0290479
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.0230637
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.02201177
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.01445052
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 -0.00205833
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.03200164
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.02988145
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.13030696
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 -0.01694144
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.07049089
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.01326462
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.12994155
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.09582914
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.10072294
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.08495651
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.04619791
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.08848146
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.00823407
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.11830095
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.06614346
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.04448533
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.16354468
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.05910193

Variance_ei
_rolling30
0.00296659

Intercept

0.02914795
Large Cap Large Cap European Japanese
Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.03098271
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.02008261
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.00920551
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.05059698
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.01806376
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.02196702
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.08087123
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.02518749
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.03369944
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.01256632
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.04965304
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.05509372
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.02984155
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.06285428
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.00630454
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.06083731
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.1582089
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 -0.01106926
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.02356628
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.03583401
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.02068239
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.02637626
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.0369654
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.05410054
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.03075982
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.01243297
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.03384513
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 -0.007541
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.01705857
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 -0.00282218
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.0382433
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.03053266
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.01198099
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.03609942
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.01363049
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.03152072
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.01498052
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.07993234
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.05240194
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.1129358
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.03113258
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.03027613
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.01767108
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.03169869
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.02565671
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.01943939
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.01180809
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 -0.00465132
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.03452678
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.03255108
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.13285198
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 -0.0193292
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.07315778
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.01068787
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.13257433
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.09845938
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.10333302
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.08754159
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.04364423
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.09106022
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.00563447
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.12095329
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.06863938
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.04695007
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.16093584
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.06168834

Variance_ei
_rolling30
0.0030365

Intercept

0.02853123

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.03034999
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.01949927
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.00981267
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.05000016
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.01745469
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.02135262
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.08030888
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.025753
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.03309097
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.01199109
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.0490986
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.05454862
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.0292043
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.06220926
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.00691201
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.06018761
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.15760828
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 -0.01038195
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.02411205
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.03637734
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.02009386
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.02696693
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.0363758
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.053495
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.03016078
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.0129972
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.03328433
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 -0.00690224
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.01643863
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 -0.00220835
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.03881051
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.02993092
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.01257001
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.03545939
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.01303737
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.03217207
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.01445277
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.07928093
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.05180817
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.11232568
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.03053985
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.0297037
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.01830115
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.031134
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.02504813
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.02006364
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.01237914
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 -0.00404273
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.03386665
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.03200071
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.13220694
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 -0.01856471
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.07260531
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.0113088
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.13199597
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.09787909
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.10273741
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.08692698
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.04428268
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.09044081
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.00623804
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.12038978
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.06795705
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.04624404
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.16153239
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.06107475
Variance_ei
_rolling30
0.00309768

Intercept

0.0320892

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.03390812
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.02305691
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.0062548
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.05355792
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.02101258
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.02491056
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.08386631
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.02219554
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.03664885
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.01554864
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.05265594
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.05810587
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.03276247
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.06576751
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.00335413
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.06374591
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.16116608
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 -0.01394062
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.02055479
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.0328201
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.02365155
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.02340922
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.0399335
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.05705286
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.03371857
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.00943976
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.03684174
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 -0.01046042
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.01999663
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 -0.00576629
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.03525304
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.03348873
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.00901232
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.03901759
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.0165951
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.02861376
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.01800985
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.08283924
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.0553659
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.11588358
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.03409758
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.03326122
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.01474305
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.03469145
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.02860601
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.0165056
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.00882162
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 -0.00760062
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.03742505
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.03555802
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.13576519
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 -0.02212414
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.07616264
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.00775079
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.13555355
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.1014367
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.10629516
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.09048493
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.0407245
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.0939988
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.00268021
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.12394722
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.07151567
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.04980289
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.15797463
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.06463268

Variance_ei
_rolling30
0.00317512

Intercept

0.02403146

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.02636476
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.01345771
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.01424781
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.04490137
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.01263206
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.01655185
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.07387307
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.03280418
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.02766739
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.00645253
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.04279505
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.04825435
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.02371314
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.05901498
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.01165902
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.05610686
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.15202604
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 -0.00798478
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.03187689
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.04287301
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.01392908
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.03184495
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.02977742
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.04769591
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.02362706
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.02057553
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.02795189
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 -0.00411291
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.01218255
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 0.00212858
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.04298443
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.02405673
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.01586318
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.03239362
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.0086218
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.03356047
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.00936051
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.07514972
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.04560867
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.10696707
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.02452173
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.02545655
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.02218351
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.02573233
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.01976838
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.022342
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.01611308
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 -0.00112116
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.03200159
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.02702088
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.12754051
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 -0.01910839
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.06800304
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.01505327
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.12810969
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.09226381
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.09919468
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.08366137
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.04959163
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.08759287
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.01248203
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.11558716
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.06888162
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.0442599
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.16640775
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.05615251

Variance_ei
_rolling30
0.00320473

Intercept

0.02264087

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.02496746
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.01208155
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.01563476
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.04351907
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.01124474
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.01516245
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.07250543
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.03417246
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.02628088
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.00507903
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.04143034
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.04689326
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.02231554
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.05761216
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.01304579
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.05470308
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.15064273
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 -0.00656479
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.03323683
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.04423322
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.01255101
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.03322507
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.02839937
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.0463109
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.02224528
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.02194281
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.02658379
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 -0.00271213
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.01079047
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 0.0035182
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.04435613
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.02267326
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.01724418
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.03099261
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.00724028
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.03496748
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.00800501
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.07374532
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.04422861
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.10557986
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.0231419
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.02408289
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.02357987
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.02436279
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.0183817
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.02373765
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.01748668
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 0.0002678
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.03059163
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.02565649
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.12613909
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 -0.01765563
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.06663748
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.01644622
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.12673339
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.09088842
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.09781136
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.08227042
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.05098988
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.08619965
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.01386585
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.1142175
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.06746037
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.04283225
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.16779016
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.05476353

Variance_ei
_rolling30
0.00328906
Intercept

0.01731874

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.01948415
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.00719434
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.02093895
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.03838878
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.00601583
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.00991134
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.06777055
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.03878817
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.02118053
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.00011266
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.0366937
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.04218555
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.01713436
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.05192166
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.01828529
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.04918381
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.1456017
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 -0.00056678
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.03763708
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.04889267
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.00767259
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.03838151
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.02360875
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.04129931
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.01740985
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.02644331
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.02162168
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 0.003043
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.00540639
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 0.00886509
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.04958341
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.01769001
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.02272892
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.02529151
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.00197837
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.04105919
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.00310146
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.06823103
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.03934019
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.10046035
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.01821873
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.01885379
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.02907612
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.01940242
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.01325069
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.02955244
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.02281925
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 0.00589545
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.0245713
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.02065455
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.12075854
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 -0.01078341
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.06154912
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.02194132
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.12140872
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.0859215
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.09235739
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.07669536
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.05621339
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.08052078
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.01877726
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.10913485
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.06077926
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.03668543
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.17296661
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.04954069

Variance_ei
_rolling30
0.00336277

Intercept

0.02595148

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.02810239
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.01578357
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.01223893
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.04704599
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.01464334
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.01851047
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.07642304
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.03025149
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.02971697
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.00882958
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.04541424
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.05096341
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.02548823
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.06059107
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.00963622
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.05768558
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.15416004
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 -0.00910914
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.02909495
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.04013598
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.01621136
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.02965273
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.03207286
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.04979412
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.02582772
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.01798209
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.0304573
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 -0.00572754
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.01405828
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 0.00018942
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.0406036
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.02619564
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.01374055
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.03401094
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.01076538
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.03214309
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.01217237
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.07671463
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.0478422
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.10899715
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.02675554
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.02779086
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.02042587
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.0282039
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.02180916
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.02061467
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.01379296
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 -0.0030345
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.03335983
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.02960802
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.12919586
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 -0.01932801
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.07054957
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.01321473
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.13036724
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.09459609
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.10126702
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.08553519
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.04783801
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.08939772
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.01034082
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.11803774
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.0698747
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.04518102
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.16427259
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.05812554

Variance_ei
_rolling30
0.00344908

Intercept

0.02103253

Large Cap Large Cap European Japanese


Growth Value Mid cap Small cap US-Stocks Stocks Stocks ei
0.04517 0.07514 -0.00608 0.10212 -0.00014 0.03006 0.02726 -0.02319101
0.05551 0.03484 0.09388 0.00147 0.02995 0.03380 0.02432 -0.01072232
0.08613 0.07198 -0.03665 0.08948 -0.02011 -0.01894 -0.05656 0.01706196
-0.02455 -0.06622 0.03536 0.01056 -0.01912 -0.01491 -0.00610 -0.04212861
-0.04618 -0.02968 0.04692 -0.01362 0.01890 0.02395 0.03100 -0.00969989
0.02328 0.04653 -0.00399 0.07654 -0.02529 0.00789 -0.00881 -0.01352924
-0.00992 -0.02937 0.16739 -0.02727 0.03246 0.02362 0.05409 -0.07142759
0.07031 0.09155 0.11859 0.13430 0.03859 0.01708 0.01187 0.03543894
0.11320 0.06898 0.01237 0.14345 0.01401 0.01168 -0.00482 -0.0246163
0.00794 0.01499 0.06316 0.01833 0.00936 0.02500 -0.02330 -0.00397072
0.07982 0.06975 0.10823 0.08217 0.00229 0.01047 -0.02154 -0.04051942
0.00981 0.00657 0.10430 0.11655 -0.03429 -0.01142 -0.04495 -0.04614787
0.03700 0.12012 0.01261 0.09355 0.01799 0.00754 0.05540 -0.02013302
-0.04063 0.03875 -0.10364 0.00614 0.01208 -0.01314 -0.04467 -0.05579236
-0.15170 -0.24325 0.02324 -0.15308 -0.01679 0.02371 0.00396 0.01454598
0.00053 0.02839 -0.00773 0.08251 -0.01636 -0.02371 0.06099 -0.05260904
-0.04474 0.04927 0.05749 -0.07034 0.01221 0.02312 0.02395 -0.14908091
-0.00557 -0.01769 -0.13708 -0.08562 0.01728 -0.01925 0.01002 -0.00417847
-0.06526 -0.02626 0.20489 -0.12846 0.05077 0.03093 0.05703 0.03431313
0.16249 0.21347 0.10947 0.20439 0.00713 0.01283 -0.04347 0.04499136
0.02602 0.04250 0.09206 0.14254 0.05496 0.04798 0.03332 -0.01107418
0.04502 0.08645 0.04226 0.02422 -0.01194 -0.01677 -0.01204 0.03445996
-0.01415 0.06453 0.13812 0.04566 0.01787 0.00099 0.08160 -0.02680988
0.19945 0.20721 0.07616 0.12772 0.01622 0.03121 0.05286 -0.04461608
0.03858 0.07859 0.11502 0.01212 0.01132 -0.00417 0.07818 -0.02050467
0.09418 0.13311 0.18511 0.14035 0.05090 0.03110 0.07573 0.02330147
0.15821 0.24185 0.09882 0.22649 0.08104 0.08654 -0.01772 -0.02577254
-0.01774 0.05771 -0.09262 0.06606 0.00836 -0.01157 -0.04667 -0.00108946
-0.08067 -0.07718 -0.00394 -0.12041 -0.01700 0.02472 0.00277 -0.00917867
0.01824 0.02363 -0.02184 0.01499 -0.02741 -0.09466 -0.02786 0.00504068
-0.03263 0.01006 0.03408 -0.05133 -0.06033 -0.05492 -0.06908 0.04502822
0.03226 0.09053 0.09776 -0.04754 0.05707 0.03211 0.06656 -0.02102845
0.04966 0.08459 -0.02143 0.10555 0.08645 0.08542 -0.07916 0.01810628
0.00652 0.02084 -0.07312 -0.03680 -0.11002 -0.11958 -0.02454 -0.02928782
-0.07806 -0.07176 0.02300 -0.06092 0.00488 -0.00445 -0.02618 -0.00606291
0.03405 0.03981 -0.14221 -0.02721 -0.07900 -0.08809 -0.07003 0.03650623
-0.05399 -0.10457 0.08835 -0.15208 -0.07246 -0.08431 -0.09707 -0.00782381
0.02176 0.09688 -0.04869 0.34845 -0.00908 -0.01558 0.02359 -0.07161046
-0.06512 0.01644 0.09023 0.05175 -0.06142 -0.02014 0.04241 -0.04265264
-0.04078 0.10278 0.05502 0.18283 0.03674 0.03348 0.04128 -0.10390039
-0.00875 0.07819 0.10900 0.03505 -0.02077 -0.01235 0.05902 -0.02162349
0.07093 0.25369 0.04060 0.05825 -0.01557 -0.01008 -0.05168 -0.02330358
0.01119 0.04766 -0.04230 0.00042 0.00757 0.00265 -0.01447 0.02528772
0.02266 -0.05553 0.14037 -0.04508 0.07518 0.03252 0.03194 -0.02346848
0.10691 0.08424 0.07749 0.19011 0.01810 0.02780 0.06053 -0.01674636
0.05496 0.05431 -0.10332 0.08776 -0.08172 -0.08262 -0.08763 0.02499562
-0.14783 -0.09267 -0.00154 -0.09043 -0.06411 -0.03330 -0.09673 0.01813017
-0.01331 -0.03139 -0.06853 -0.09619 -0.01074 -0.02010 -0.08546 0.00139161
-0.03641 -0.04410 -0.11257 0.11621 -0.02504 -0.02650 -0.02210 -0.02879588
-0.06148 -0.05827 0.09003 -0.16463 0.00509 -0.02862 -0.04824 -0.02510406
0.04511 0.07212 0.01288 0.10882 0.07681 0.05914 0.07190 -0.12399941
-0.03554 0.02362 -0.29894 -0.24323 -0.06420 -0.04802 0.00902 -0.01455777
-0.16478 -0.14740 0.06456 0.26142 -0.09229 -0.06028 -0.06935 -0.0661304
-0.01358 0.05340 -0.00458 -0.21753 0.03464 0.01205 0.00420 0.01796435
0.08962 0.12900 0.02102 -0.03305 0.00405 0.01307 -0.05890 -0.12592875
-0.00962 0.04870 0.08340 0.00199 -0.08007 -0.04601 0.00749 -0.08967495
0.07855 0.12689 -0.03270 0.10784 -0.00495 0.02291 -0.07669 -0.09677976
-0.11208 -0.01398 -0.06167 -0.05615 -0.05348 -0.05672 -0.06607 -0.08096683
-0.11589 -0.10542 0.02679 -0.07577 0.06070 0.04829 0.07209 0.05315392
0.06487 -0.01810 -0.10230 0.06952 -0.01634 0.00833 -0.09669 -0.08490274
-0.10929 -0.02008 0.09343 -0.04696 0.02393 -0.00733 0.06604 0.01562285
0.06651 0.09731 0.01957 0.02774 -0.02191 0.00504 -0.09131 -0.11347381
-0.09190 -0.01164 -0.25296 -0.00367 -0.03080 -0.03254 -0.11622 -0.06588176
-0.15175 -0.10467 -0.16719 -0.14176 0.09672 0.04935 0.01893 -0.0402082
-0.10315 -0.12432 0.06350 -0.07744 -0.02011 -0.00573 0.02149 0.16912748
0.11064 -0.08392 0.03848 0.03673 -0.05090 -0.09548 0.03197 -0.05311814

Variance_ei
_rolling30
0.0035202
Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value
0 0 0 0 0 0

ei_sq y_dif y_dif_sq


0.00030908719 -0.00688 0.000047
9.3013361E-05 0.07052 0.004974
0.00044410088 -0.01458 0.000212
0.00154836753 -0.00938 0.000088
3.697335E-05 0.04302 0.001851
9.3395745E-05 -0.00818 0.000067
0.00513982789 0.06902 0.004764
0.00119408711 0.12842 0.016493
0.00047317838 -0.00758 0.000057
6.8359808E-06 0.04182 0.001749
0.00167678774 0.03572 0.001276
0.00220434635 0.02002 0.000401
0.00026138686 0.01602 0.000257
0.00237309241 -0.12798 0.016378
0.00033090663 0.04262 0.001817
0.00215450018 -0.02688 0.000722
0.02153061324 -0.09228 0.008515
3.145772E-05 -0.08098 0.006557
0.00100805715 0.19972 0.039890
0.00192466878 0.11492 0.013208
9.8649401E-05 0.07162 0.005130
0.00138788726 0.07032 0.004946
0.00068390687 0.10212 0.010429
0.00179181747 0.03382 0.001144
0.00037555113 0.09162 0.008395
0.00047196075 0.18132 0.032879
0.0006130397 0.04642 0.002155
3.8735503E-05 -0.06587 0.004339
1.9567944E-05 0.00053 0.000000
8.9228768E-05 -0.00727 0.000053
0.00227663397 0.05813 0.003379
0.00036060437 0.07643 0.005841
0.00051801508 -0.00887 0.000079
0.00049544885 -0.07407 0.005487
6.7880612E-06 0.01273 0.000162
0.00211975951 -0.06787 0.004607
6.2072313E-05 0.03243 0.001051
0.00427833138 -0.08577 0.007357
0.00170877769 0.04163 0.001733
0.01017873766 -0.04304 0.001852
0.00040523854 0.08096 0.006555
0.00041991819 -0.00034 0.000000
0.00095568618 0.00376 0.000014
0.00050085609 0.09276 0.008605
0.00018778484 0.06566 0.004312
0.00104542294 -0.05944 0.003533
0.00046261385 -0.00134 0.000002
5.3330406E-05 -0.05934 0.003521
0.0003794559 -0.09834 0.009670
0.0005803911 0.03186 0.001015
0.01409225351 -0.08144 0.006632
3.9256249E-06 -0.19879 0.039519
0.00416959686 -0.03279 0.001075
0.00054673406 0.02831 0.000801
0.01499017877 -0.11819 0.013970
0.00777993063 -0.02039 0.000416
0.0084931161 -0.13099 0.017159
0.00565905785 -0.13129 0.017238
0.00329367244 0.10451 0.010922
0.00615551214 -0.17219 0.029651
0.00029884901 0.10951 0.011992
0.0124779785 -0.11809 0.013946
0.00273108335 -0.25779 0.066458
0.00084963481 -0.13428 0.018030
0.02964160959 0.23012 0.052957
0.00244374318 -0.00598 0.000036

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.18902777264 0.558370

Style Selection
R_sq 0.66 0.34

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value
0 0 0 0 0 0

ei_sq y_dif y_dif_sq


0.00029234622 -0.00698 0.000049
8.4082749E-05 0.07042 0.004959
0.00046450033 -0.01468 0.000216
0.0015110651 -0.00948 0.000090
3.1378931E-05 0.04292 0.001842
8.4353135E-05 -0.00828 0.000069
0.00507247935 0.06892 0.004750
0.00122691408 0.12832 0.016466
0.00045257803 -0.00768 0.000059
4.5848035E-06 0.04172 0.001740
0.00163852 0.03562 0.001269
0.00216057922 0.01992 0.000397
0.00024598728 0.01592 0.000253
0.00232609895 -0.12808 0.016405
0.00034854863 0.04252 0.001808
0.00210966426 -0.02698 0.000728
0.02139071076 -0.09238 0.008534
3.7214524E-05 -0.08108 0.006574
0.00103802926 0.19962 0.039848
0.00196596413 0.11482 0.013183
8.9429424E-05 0.07152 0.005115
0.00142357058 0.07022 0.004931
0.0006592525 0.10202 0.010408
0.00175155321 0.03372 0.001137
0.00035728179 0.09152 0.008376
0.00049267208 0.18122 0.032840
0.00058993801 0.04632 0.002145
4.4990734E-05 -0.06598 0.004353
1.5546557E-05 0.00042 0.000000
9.8520614E-05 -0.00738 0.000054
0.00232190339 0.05802 0.003366
0.0003426905 0.07632 0.005825
0.0005398908 -0.00898 0.000081
0.00047413956 -0.07418 0.005503
4.533133E-06 0.01262 0.000159
0.00216472718 -0.06798 0.004621
5.4952499E-05 0.03232 0.001045
0.00421501714 -0.08588 0.007375
0.00166961983 0.04152 0.001724
0.01008230418 -0.04314 0.001861
0.00038629249 0.08086 0.006538
0.00040076059 -0.00044 0.000000
0.00098573916 0.00366 0.000013
0.00047996838 0.09266 0.008586
0.00017489165 0.06556 0.004298
0.00107678215 -0.05954 0.003545
0.00048317015 -0.00144 0.000002
6.0552822E-05 -0.05944 0.003533
0.0003607117 -0.09844 0.009691
0.00055799939 0.03176 0.001009
0.01397739794 -0.08154 0.006649
6.1780749E-06 -0.19890 0.039561
0.00410916603 -0.03290 0.001082
0.00056945048 0.02820 0.000795
0.014874368 -0.11830 0.013995
0.00769650612 -0.02050 0.000420
0.00840548296 -0.13110 0.017187
0.00558710293 -0.13140 0.017266
0.00334942341 0.10440 0.010899
0.00608033518 -0.17230 0.029687
0.00031560349 0.10940 0.011968
0.01237287597 -0.11820 0.013971
0.0026800218 -0.25790 0.066512
0.00082103949 -0.13438 0.018059
0.02980602847 0.23002 0.052908
0.00239655408 -0.00608 0.000037

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.18760019013 0.558322
Style Selection
R_sq 0.66 0.34

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value
0 0 0 0 0 0

ei_sq y_dif y_dif_sq


0.00031435861 -0.00588 0.000035
9.4464421E-05 0.07152 0.005115
0.00043944279 -0.01358 0.000184
0.00155587212 -0.00838 0.000070
3.8368943E-05 0.04402 0.001938
9.5763111E-05 -0.00718 0.000052
0.0051460436 0.07002 0.004903
0.00119076594 0.12942 0.016749
0.00047809771 -0.00658 0.000043
7.16795E-06 0.04282 0.001833
0.00167936361 0.03672 0.001348
0.00220597691 0.02102 0.000442
0.00026645921 0.01702 0.000290
0.00238946921 -0.12698 0.016124
0.00032687102 0.04362 0.001903
0.00217076229 -0.02588 0.000670
0.02156025337 -0.09128 0.008332
2.8914744E-05 -0.07998 0.006397
0.00100689071 0.20072 0.040288
0.00192337945 0.11592 0.013437
0.00010030027 0.07262 0.005274
0.00138148903 0.07132 0.005086
0.00068832619 0.10312 0.010634
0.00180100328 0.03482 0.001212
0.00037938163 0.09262 0.008578
0.00046995671 0.18232 0.033240
0.00061507166 0.04742 0.002249
3.6789009E-05 -0.06488 0.004209
2.0735405E-05 0.00152 0.000002
8.6960297E-05 -0.00628 0.000039
0.00227180158 0.05912 0.003495
0.00036451362 0.07742 0.005994
0.00051422186 -0.00788 0.000062
0.00050261051 -0.07308 0.005341
7.2632954E-06 0.01372 0.000188
0.00210346116 -0.06688 0.004473
6.1934314E-05 0.03342 0.001117
0.00430157283 -0.08478 0.007188
0.00171628035 0.04262 0.001817
0.01020201066 -0.04204 0.001767
0.00040883297 0.08196 0.006717
0.00042232037 0.00066 0.000000
0.00094672345 0.00476 0.000023
0.00050295549 0.09376 0.008791
0.00019089305 0.06666 0.004443
0.00103661239 -0.05844 0.003415
0.00046018979 -0.00034 0.000000
5.1693249E-05 -0.05834 0.003404
0.00038691637 -0.09734 0.009475
0.00058161087 0.03286 0.001080
0.01413212899 -0.08044 0.006471
2.6687334E-06 -0.19780 0.039124
0.00417327221 -0.03180 0.001011
0.00054059996 0.02930 0.000859
0.01500670053 -0.11720 0.013736
0.00779234613 -0.01940 0.000376
0.00851034326 -0.13000 0.016900
0.00567743054 -0.13030 0.016978
0.00327557035 0.10550 0.011130
0.00617580974 -0.17120 0.029309
0.00029521575 0.11050 0.012210
0.01248805346 -0.11710 0.013712
0.00275454484 -0.25680 0.065946
0.0008648398 -0.13328 0.017764
0.02960896232 0.23112 0.053416
0.00245567056 -0.00498 0.000025

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.18887845155 0.553285
Style Selection
R_sq 0.66 0.34

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value
0 0 0 0 0 0

ei_sq y_dif y_dif_sq


0.00031708531 -0.00610 0.000037
9.6778221E-05 0.07130 0.005084
0.00043533334 -0.01380 0.000190
0.00156432108 -0.00860 0.000074
3.9575434E-05 0.04380 0.001919
9.7575105E-05 -0.00740 0.000055
0.00516557221 0.06980 0.004873
0.00118158211 0.12920 0.016694
0.00048235538 -0.00680 0.000046
7.8536737E-06 0.04260 0.001815
0.00169107468 0.03650 0.001333
0.00222013816 0.02080 0.000433
0.00026884478 0.01680 0.000282
0.0023959625 -0.12720 0.016179
0.00032333726 0.04340 0.001884
0.0021765838 -0.02610 0.000681
0.02159073334 -0.09150 0.008372
2.8584886E-05 -0.08020 0.006431
0.00099739709 0.20050 0.040202
0.00191006988 0.11570 0.013387
0.00010259537 0.07240 0.005242
0.00137316548 0.07110 0.005056
0.00069427052 0.10290 0.010589
0.00180946824 0.03460 0.001197
0.00038348643 0.09240 0.008538
0.00046414762 0.18210 0.033162
0.00062190041 0.04720 0.002228
3.5925144E-05 -0.06509 0.004237
2.1539834E-05 0.00131 0.000002
8.5241212E-05 -0.00649 0.000042
0.00225924666 0.05891 0.003470
0.00036844992 0.07721 0.005961
0.00050908578 -0.00809 0.000066
0.00050577971 -0.07329 0.005372
7.8687402E-06 0.01351 0.000182
0.00209786612 -0.06709 0.004502
6.4560593E-05 0.03321 0.001103
0.00430957698 -0.08499 0.007224
0.00172536702 0.04241 0.001798
0.01022136261 -0.04226 0.001786
0.00041330968 0.08174 0.006682
0.00042757651 0.00044 0.000000
0.00094187092 0.00454 0.000021
0.00050898461 0.09354 0.008750
0.00019358434 0.06644 0.004415
0.00103121946 -0.05866 0.003441
0.00045468609 -0.00056 0.000000
5.0307236E-05 -0.05856 0.003429
0.00038902956 -0.09756 0.009517
0.00058867775 0.03264 0.001066
0.01414790963 -0.08066 0.006506
2.7817809E-06 -0.19801 0.039210
0.00419193816 -0.03201 0.001025
0.00053657793 0.02909 0.000846
0.0150367278 -0.11741 0.013786
0.00781370126 -0.01961 0.000385
0.00853027667 -0.13021 0.016956
0.00569130014 -0.13051 0.017034
0.00326734603 0.10529 0.011085
0.00618963848 -0.17141 0.029383
0.000291746 0.11029 0.012163
0.01251824565 -0.11731 0.013763
0.00275821426 -0.25701 0.066057
0.00086572192 -0.13350 0.017822
0.02957208816 0.23090 0.053316
0.00246487976 -0.00520 0.000027

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.18868080557 0.553098
Style Selection
R_sq 0.66 0.34

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value
0 0 0 0 0 0

ei_sq y_dif y_dif_sq


0.00033466632 -0.00623 0.000039
0.00010812418 0.07117 0.005064
0.00041369574 -0.01393 0.000194
0.00160737321 -0.00873 0.000076
4.6419322E-05 0.04367 0.001907
0.00010800061 -0.00753 0.000057
0.00525101987 0.06967 0.004853
0.00114155145 0.12907 0.016658
0.00050560976 -0.00693 0.000048
1.1392134E-05 0.04247 0.001803
0.0017410987 0.03637 0.001322
0.00227873452 0.02067 0.000427
0.00028482352 0.01667 0.000278
0.00244206131 -0.12733 0.016214
0.00030474336 0.04327 0.001872
0.00221987376 -0.02623 0.000688
0.02174821029 -0.09163 0.008397
2.4412942E-05 -0.08033 0.006454
0.00095882181 0.20037 0.040146
0.00185622718 0.11557 0.013355
0.00011410231 0.07227 0.005222
0.00133272439 0.07097 0.005036
0.00072362949 0.10277 0.010561
0.00185462875 0.03447 0.001188
0.00040481692 0.09227 0.008513
0.00043910744 0.18197 0.033111
0.00065189594 0.04707 0.002215
3.0423889E-05 -0.06523 0.004255
2.6493333E-05 0.00117 0.000001
7.5993648E-05 -0.00663 0.000044
0.00220400125 0.05877 0.003454
0.00038920442 0.07707 0.005939
0.00048447156 -0.00823 0.000068
0.00052742023 -0.07343 0.005392
1.1230689E-05 0.01337 0.000179
0.00205601271 -0.06723 0.004520
7.5318154E-05 0.03307 0.001093
0.00437006664 -0.08513 0.007248
0.00177094946 0.04227 0.001786
0.01032692176 -0.04240 0.001797
0.00043583605 0.08160 0.006659
0.00045176955 0.00030 0.000000
0.00091197783 0.00440 0.000019
0.00053588574 0.09340 0.008724
0.00020841182 0.06630 0.004396
0.00099937995 -0.05880 0.003457
0.00043032749 -0.00070 0.000000
4.3161799E-05 -0.05870 0.003445
0.00040682567 -0.09770 0.009544
0.00061864436 0.03250 0.001057
0.0142596079 -0.08080 0.006528
1.8975482E-06 -0.19815 0.039265
0.00427087555 -0.03215 0.001034
0.00051345592 0.02895 0.000838
0.01517637713 -0.11755 0.013819
0.00791394808 -0.01975 0.000390
0.00863075674 -0.13035 0.016992
0.00576912113 -0.13065 0.017070
0.00321287979 0.10515 0.011056
0.00626964857 -0.17155 0.029431
0.00027390536 0.11015 0.012132
0.01265067892 -0.11745 0.013795
0.0028017607 -0.25715 0.066128
0.0008880849 -0.13364 0.017859
0.02938632765 0.23076 0.053252
0.00251633571 -0.00534 0.000028

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.18837029538 0.553023
Style Selection
R_sq 0.66 0.34
Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value
0 0 0 0 0 0

ei_sq y_dif y_dif_sq


0.00033316962 -0.00552 0.000030
0.00010776608 0.07188 0.005167
0.00041486316 -0.01322 0.000175
0.00160547247 -0.00802 0.000064
4.6016878E-05 0.04438 0.001970
0.00010733327 -0.00682 0.000046
0.0052499834 0.07038 0.004953
0.00114213726 0.12978 0.016843
0.00050429263 -0.00622 0.000039
1.1302264E-05 0.04318 0.001865
0.00174081859 0.03708 0.001375
0.00227884288 0.02138 0.000457
0.00028336953 0.01738 0.000302
0.00243743214 -0.12662 0.016032
0.00030575051 0.04398 0.001934
0.00221524871 -0.02552 0.000651
0.02174067884 -0.09092 0.008266
2.5081259E-05 -0.07962 0.006339
0.00095877153 0.20108 0.040434
0.00185605614 0.11628 0.013521
0.0001136812 0.07298 0.005326
0.00133424012 0.07168 0.005138
0.00072254103 0.10348 0.010708
0.00185222668 0.03518 0.001238
0.00040382054 0.09298 0.008645
0.00043944516 0.18268 0.033372
0.00065156885 0.04778 0.002283
3.0909633E-05 -0.06452 0.004163
2.6136144E-05 0.00188 0.000004
7.6550492E-05 -0.00592 0.000035
0.0022048924 0.05948 0.003538
0.00038817623 0.07778 0.006050
0.00048535063 -0.00752 0.000057
0.00052537984 -0.07272 0.005288
1.1084183E-05 0.01408 0.000198
0.00206054075 -0.06652 0.004425
7.5482606E-05 0.03378 0.001141
0.00436346784 -0.08442 0.007126
0.0017690776 0.04298 0.001847
0.01032080469 -0.04168 0.001737
0.00043492857 0.08232 0.006777
0.00045125963 0.00102 0.000001
0.00091437614 0.00512 0.000026
0.00053550273 0.09412 0.008859
0.00020756501 0.06702 0.004492
0.00100171341 -0.05808 0.003373
0.00043079758 0.00002 0.000000
4.3548511E-05 -0.05798 0.003362
0.00040464536 -0.09698 0.009405
0.00061857479 0.03322 0.001104
0.0142484162 -0.08008 0.006413
2.1956312E-06 -0.19744 0.038982
0.00427056141 -0.03144 0.000988
0.00051505654 0.02966 0.000880
0.01517271956 -0.11684 0.013651
0.00791114244 -0.01904 0.000362
0.00862645975 -0.12964 0.016806
0.0057642226 -0.12994 0.016884
0.00321783684 0.10586 0.011207
0.0062641767 -0.17084 0.029185
0.00027479827 0.11086 0.012291
0.01264894452 -0.11674 0.013628
0.00279490645 -0.25644 0.065760
0.00088355105 -0.13292 0.017668
0.02939441349 0.23148 0.053583
0.00251314967 -0.00462 0.000021

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.18825793842 0.551085

Style Selection
R_sq 0.66 0.34

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value
0 0 0 0 0 0

ei_sq y_dif y_dif_sq


0.00029835307 -0.00563 0.000032
8.9132725E-05 0.07177 0.005151
0.00045486324 -0.01333 0.000178
0.00153017022 -0.00813 0.000066
3.3903703E-05 0.04427 0.001960
8.8265581E-05 -0.00693 0.000048
0.00511707605 0.07027 0.004937
0.00120555526 0.12967 0.016814
0.00046208089 -0.00633 0.000040
5.897222E-06 0.04307 0.001855
0.00166516967 0.03697 0.001367
0.00219287797 0.02127 0.000452
0.00025121849 0.01727 0.000298
0.00234065919 -0.12673 0.016061
0.00034022911 0.04387 0.001924
0.00212268821 -0.02563 0.000657
0.02146024913 -0.09103 0.008287
3.638957E-05 -0.07973 0.006357
0.00101592853 0.20097 0.040388
0.00193508392 0.11617 0.013495
9.4437523E-05 0.07287 0.005310
0.00140424223 0.07157 0.005122
0.00067262541 0.10337 0.010685
0.00177068317 0.03507 0.001230
0.00036643661 0.09287 0.008624
0.00047906274 0.18257 0.033331
0.00060536053 0.04767 0.002272
4.2831494E-05 -0.06463 0.004177
1.71617E-05 0.00177 0.000003
9.436272E-05 -0.00603 0.000036
0.00229280601 0.05937 0.003525
0.00035145915 0.07767 0.006032
0.00052786464 -0.00763 0.000058
0.00048115328 -0.07283 0.005304
5.6707749E-06 0.01397 0.000195
0.00215187527 -0.06663 0.004440
6.073204E-05 0.03367 0.001134
0.00423298269 -0.08453 0.007146
0.00169018984 0.04287 0.001838
0.01012632182 -0.04179 0.001747
0.00039630057 0.08221 0.006758
0.00041256392 0.00091 0.000001
0.00097447269 0.00501 0.000025
0.00049355112 0.09401 0.008837
0.000180812 0.06691 0.004476
0.00106426216 -0.05819 0.003386
0.0004702711 -0.00009 0.000000
5.7147889E-05 -0.05809 0.003375
0.00036532797 -0.09709 0.009427
0.00057397804 0.03311 0.001096
0.01401304666 -0.08019 0.006431
6.5974781E-06 -0.19755 0.039026
0.00415180638 -0.03155 0.000995
0.00056004849 0.02955 0.000873
0.01494300606 -0.11695 0.013678
0.00774523895 -0.01915 0.000367
0.00845089723 -0.12975 0.016835
0.00561856907 -0.13005 0.016913
0.00333052084 0.10575 0.011183
0.00611168995 -0.17095 0.029224
0.00030742242 0.11075 0.012265
0.01244196489 -0.11685 0.013654
0.00268807457 -0.25655 0.065818
0.00082283854 -0.13303 0.017698
0.02972132216 0.23137 0.053530
0.00241737243 -0.00473 0.000022

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.18593846645 0.551038

Style Selection
R_sq 0.66 0.34

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value
0 0 0 0 0 0

ei_sq y_dif y_dif_sq


0.00043135355 -0.00444 0.000020
0.00019516944 0.07296 0.005323
0.00029917656 -0.01214 0.000147
0.00188048084 -0.00694 0.000048
9.6302796E-05 0.04546 0.002066
0.00017620546 -0.00574 0.000033
0.00585258013 0.07146 0.005106
0.00088915659 0.13086 0.017124
0.00065022312 -0.00514 0.000026
5.0798698E-05 0.04426 0.001959
0.00211050366 0.03816 0.001456
0.00272040933 0.02246 0.000504
0.0003706054 0.01846 0.000341
0.00266454369 -0.12554 0.015761
0.00020795978 0.04506 0.002030
0.00242197809 -0.02444 0.000597
0.0226986701 -0.08984 0.008072
1.3530146E-05 -0.07854 0.006169
0.00070534557 0.20216 0.040868
0.00149175103 0.11736 0.013773
0.00019989612 0.07406 0.005485
0.00109542848 0.07276 0.005294
0.00092011548 0.10456 0.010932
0.00212929485 0.03626 0.001315
0.0005449092 0.09406 0.008847
0.00028759056 0.18376 0.033767
0.00087645401 0.04886 0.002387
1.008035E-05 -0.06344 0.004025
6.2507178E-05 0.00296 0.000009
3.3904109E-05 -0.00484 0.000023
0.0018504351 0.06056 0.003667
0.00052401551 0.07886 0.006219
0.00034465104 -0.00644 0.000041
0.00063899497 -0.07164 0.005132
4.4971168E-05 0.01516 0.000230
0.00187333239 -0.06544 0.004282
0.00018185784 0.03486 0.001215
0.00464667724 -0.08334 0.006946
0.0020632373 0.04406 0.001941
0.01094082858 -0.04060 0.001649
0.00058758009 0.08340 0.006955
0.00062845322 0.00210 0.000004
0.00076535524 0.00620 0.000038
0.00073633751 0.09520 0.009063
0.0003044252 0.06810 0.004637
0.00083808544 -0.05700 0.003249
0.00028558293 0.00110 0.000001
1.2664821E-05 -0.05690 0.003238
0.00048559077 -0.09590 0.009197
0.00085128928 0.03430 0.001176
0.01479023748 -0.07900 0.006241
3.3470102E-06 -0.19636 0.038557
0.00484551794 -0.03036 0.000922
0.00039690983 0.03074 0.000945
0.01609723537 -0.11576 0.013400
0.00857477076 -0.01796 0.000323
0.00925468023 -0.12856 0.016528
0.006214515 -0.12886 0.016605
0.00295224856 0.10694 0.011436
0.00671611131 -0.16976 0.028819
0.00018029963 0.11194 0.012531
0.01356937188 -0.11566 0.013377
0.00294900048 -0.25536 0.065209
0.0009392695 -0.13184 0.017383
0.02827307285 0.23256 0.054083
0.00281568694 -0.00354 0.000013

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.19033229597 0.546016

Style Selection
R_sq 0.65 0.35

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value
0 0 0 0.00311631314 0 0

ei_sq y_dif y_dif_sq


0.0004907838 -0.00219 0.000005
0.00020426189 0.07521 0.005657
0.00026800551 -0.00989 0.000098
0.00193892003 -0.00469 0.000022
0.00011472637 0.04771 0.002277
0.00020325677 -0.00349 0.000012
0.00584359638 0.07371 0.005434
0.00089523782 0.13311 0.017719
0.00069161056 -0.00289 0.000008
5.4752358E-05 0.04651 0.002164
0.00209580597 0.04041 0.001633
0.00268897033 0.02471 0.000611
0.00041948961 0.02071 0.000429
0.00284195065 -0.12329 0.015199
0.000183242 0.04731 0.002239
0.00258514595 -0.02219 0.000492
0.02289649025 -0.08759 0.007671
1.4898693E-06 -0.07629 0.005819
0.00073272285 0.20441 0.041785
0.00151963742 0.11961 0.014308
0.00021087559 0.07631 0.005824
0.00105561452 0.07501 0.005627
0.00094054542 0.10681 0.011409
0.00219421886 0.03851 0.001483
0.00056799565 0.09631 0.009276
0.0002944024 0.18601 0.034601
0.00088128348 0.05111 0.002613
2.3100353E-06 -0.06118 0.003743
8.1984739E-05 0.00522 0.000027
2.284887E-05 -0.00258 0.000007
0.00182026721 0.06282 0.003946
0.00055320336 0.08112 0.006580
0.00031497455 -0.00418 0.000018
0.00072424203 -0.06938 0.004814
5.5047266E-05 0.01742 0.000303
0.0016995594 -0.06318 0.003992
0.00017149952 0.03712 0.001378
0.0048742749 -0.08108 0.006575
0.00210507966 0.04632 0.002145
0.01111600384 -0.03835 0.001470
0.00061054986 0.08565 0.007337
0.00064975383 0.00435 0.000019
0.00069199172 0.00845 0.000071
0.00074345314 0.09745 0.009497
0.00033378679 0.07035 0.004950
0.00075302417 -0.05475 0.002997
0.00026971657 0.00335 0.000011
5.6930459E-06 -0.05465 0.002986
0.00058352395 -0.09365 0.008770
0.00084977164 0.03655 0.001336
0.01515050293 -0.07675 0.005890
5.0581805E-06 -0.19410 0.037676
0.00485417939 -0.02810 0.000790
0.00034905321 0.03300 0.001089
0.01624113435 -0.11350 0.012883
0.00863755062 -0.01570 0.000247
0.00942502939 -0.12630 0.015953
0.00640736287 -0.12660 0.016029
0.00281522928 0.10920 0.011924
0.0069391282 -0.16750 0.028058
0.00016449627 0.11420 0.013041
0.01361643447 -0.11340 0.012860
0.0032695413 -0.25310 0.064062
0.00111915156 -0.12959 0.016793
0.0280389137 0.23481 0.055137
0.00291763165 -0.00129 0.000002

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.19183920121 0.528597

Style Selection
R_sq 0.64 0.36

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value
0 0 0 0.00206902473 0 0

ei_sq y_dif y_dif_sq


0.00070730446 -0.00224 0.000005
0.00035194728 0.07516 0.005650
0.00014271151 -0.00994 0.000099
0.00234983343 -0.00474 0.000022
0.00022976576 0.04766 0.002272
0.00035009821 -0.00354 0.000013
0.00654465338 0.07366 0.005426
0.00064665008 0.13306 0.017706
0.00094707349 -0.00294 0.000009
0.00013995158 0.04646 0.002159
0.0025217284 0.04036 0.001629
0.0031671302 0.02466 0.000608
0.00062526028 0.02066 0.000427
0.00333286049 -0.12334 0.015212
8.2736609E-05 0.04726 0.002234
0.003059948 -0.02224 0.000494
0.02426983014 -0.08764 0.007680
1.0405022E-05 -0.07634 0.005827
0.00050951257 0.20436 0.041765
0.00119392452 0.11956 0.014296
0.00036115007 0.07626 0.005816
0.00078785865 0.07496 0.005620
0.00123720998 0.10676 0.011399
0.0026350562 0.03846 0.001479
0.000803703 0.09626 0.009267
0.00015983477 0.18596 0.034583
0.00116175515 0.05106 0.002608
8.2440911E-06 -0.06123 0.003750
0.00018197884 0.00517 0.000027
1.2250588E-07 -0.00263 0.000007
0.00146799799 0.06277 0.003939
0.00078447583 0.08107 0.006572
0.00017976979 -0.00423 0.000018
0.00098085688 -0.06943 0.004821
0.0001397469 0.01737 0.000302
0.00136051629 -0.06323 0.003999
0.00030383999 0.03707 0.001374
0.00551954321 -0.08113 0.006583
0.00253747338 0.04627 0.002140
0.01207973177 -0.03840 0.001474
0.00085210492 0.08560 0.007328
0.00089114765 0.00430 0.000019
0.00047844525 0.00840 0.000071
0.00100323549 0.09740 0.009487
0.00051705685 0.07030 0.004942
0.0005335188 -0.05480 0.003003
0.00014614414 0.00330 0.000011
3.8623003E-06 -0.05470 0.002992
0.00081419522 -0.09370 0.008779
0.0011232745 0.03650 0.001332
0.01627714842 -0.07680 0.005898
4.4452622E-05 -0.19415 0.037696
0.00547907127 -0.02815 0.000793
0.0002036781 0.03295 0.001085
0.01736956268 -0.11355 0.012895
0.00948299641 -0.01575 0.000248
0.01029106993 -0.12635 0.015965
0.00712736606 -0.12665 0.016041
0.00235634743 0.10915 0.011913
0.00768527275 -0.16755 0.028075
6.915759E-05 0.11415 0.013029
0.01465680802 -0.11345 0.012872
0.00377642372 -0.25315 0.064087
0.00143703177 -0.12964 0.016806
0.02657483722 0.23476 0.055114
0.00341921086 -0.00134 0.000002

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.20421757305 0.528589

Style Selection
R_sq 0.61 0.39
Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value
0 0 0 0.00288551217 0 0

ei_sq y_dif y_dif_sq


0.00067389863 -0.00141 0.000002
0.0003190348 0.07599 0.005775
0.00016113895 -0.00911 0.000083
0.00227176741 -0.00391 0.000015
0.00020742275 0.04849 0.002352
0.00032312418 -0.00271 0.000007
0.0063851583 0.07449 0.005549
0.00069872611 0.13389 0.017927
0.0008995837 -0.00211 0.000004
0.00011926706 0.04729 0.002237
0.00242072235 0.04119 0.001697
0.00305002073 0.02549 0.000650
0.0005918387 0.02149 0.000462
0.00326859959 -0.12251 0.015008
9.7118134E-05 0.04809 0.002313
0.00299650631 -0.02141 0.000458
0.02401601442 -0.08681 0.007535
8.1463639E-06 -0.07551 0.005701
0.00056062053 0.20519 0.042104
0.00126863362 0.12039 0.014495
0.00032832339 0.07709 0.005943
0.0008349247 0.07579 0.005745
0.00117489817 0.10759 0.011576
0.00255285675 0.03929 0.001544
0.0007556985 0.09709 0.009427
0.0001869218 0.18679 0.034892
0.00109759013 0.05189 0.002693
5.3111649E-06 -0.06041 0.003649
0.00016374827 0.00599 0.000036
1.1434847E-06 -0.00181 0.000003
0.00153665466 0.06359 0.004044
0.00073899822 0.08189 0.006707
0.00020102916 -0.00341 0.000012
0.00094531057 -0.06861 0.004707
0.00012149112 0.01819 0.000331
0.00139507013 -0.06241 0.003894
0.00026775576 0.03789 0.001436
0.00543486837 -0.08031 0.006449
0.00245095801 0.04709 0.002218
0.01191044741 -0.03757 0.001411
0.00080246704 0.08643 0.007471
0.000840007 0.00513 0.000026
0.00050691737 0.00923 0.000085
0.00094439293 0.09823 0.009650
0.00048239034 0.07113 0.005060
0.00056162264 -0.05397 0.002912
0.00016753223 0.00413 0.000017
1.6426488E-06 -0.05387 0.002902
0.00078863397 -0.09287 0.008624
0.00105857501 0.03733 0.001394
0.01612021708 -0.07597 0.005771
4.4841218E-05 -0.19332 0.037375
0.0053382997 -0.02732 0.000747
0.00022324919 0.03378 0.001141
0.017150635 -0.11272 0.012707
0.00930979471 -0.01492 0.000223
0.01013827346 -0.12552 0.015756
0.0070138942 -0.12582 0.015832
0.00242144089 0.10998 0.012095
0.00757335385 -0.16672 0.027797
8.3680495E-05 0.11498 0.013219
0.01443394784 -0.11262 0.012684
0.00374446641 -0.25232 0.063668
0.00141542759 -0.12881 0.016591
0.02683771952 0.23559 0.055504
0.00333287074 -0.00051 0.000000

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.2017185136 0.526391

Style Selection
R_sq 0.62 0.38

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value
0 0 0 0.00025079892 0 0

ei_sq y_dif y_dif_sq


0.00074066766 -0.00066 0.000000
0.0003899235 0.07674 0.005889
0.00012521457 -0.00836 0.000070
0.00243327441 -0.00316 0.000010
0.00025410266 0.04924 0.002425
0.00037913229 -0.00196 0.000004
0.00672388572 0.07524 0.005661
0.00058989192 0.13464 0.018129
0.00099929027 -0.00136 0.000002
0.00016393117 0.04804 0.002308
0.00263535194 0.04194 0.001759
0.00329830846 0.02624 0.000689
0.00066247289 0.02224 0.000495
0.00339138092 -0.12176 0.014825
6.9119415E-05 0.04884 0.002386
0.00312262995 -0.02066 0.000427
0.02454498334 -0.08606 0.007406
1.2251933E-05 -0.07476 0.005589
0.0004534251 0.20594 0.042412
0.0011139156 0.12114 0.014676
0.00039924371 0.07784 0.006059
0.00074045931 0.07654 0.005859
0.00130933233 0.10834 0.011738
0.00272625181 0.04004 0.001603
0.0008595926 0.09784 0.009573
0.00013111159 0.18754 0.035172
0.0012316607 0.05264 0.002771
1.1320184E-05 -0.05966 0.003559
0.00020113114 0.00674 0.000045
1.386595E-07 -0.00106 0.000001
0.0014009196 0.06434 0.004140
0.00083579735 0.08264 0.006830
0.00016082139 -0.00266 0.000007
0.00101321816 -0.06786 0.004604
0.00015950364 0.01894 0.000359
0.0013367254 -0.06166 0.003801
0.00034397005 0.03864 0.001493
0.00560330035 -0.07956 0.006329
0.00263513344 0.04784 0.002289
0.0122617746 -0.03682 0.001356
0.00090837636 0.08718 0.007601
0.000943975 0.00588 0.000035
0.0004516575 0.00998 0.000100
0.00106769447 0.09898 0.009797
0.00055521472 0.07188 0.005167
0.00051048017 -0.05322 0.002832
0.00012670016 0.00488 0.000024
6.6813681E-06 -0.05312 0.002822
0.00083324308 -0.09212 0.008486
0.00119265751 0.03808 0.001450
0.01643886573 -0.07522 0.005658
4.087236E-05 -0.19258 0.037085
0.00562494478 -0.02658 0.000706
0.00018571155 0.03452 0.001192
0.01758590805 -0.11198 0.012539
0.00967105524 -0.01418 0.000201
0.01043824628 -0.12478 0.015569
0.00723354514 -0.12508 0.015644
0.00228763798 0.11072 0.012260
0.00778589397 -0.16598 0.027548
5.4602156E-05 0.11572 0.013392
0.01488876427 -0.11188 0.012516
0.00377709423 -0.25158 0.063290
0.00144976229 -0.12806 0.016399
0.02630335997 0.23634 0.055857
0.00351033175 0.00024 0.000000

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.20390316967 0.524664

Style Selection
R_sq 0.61 0.39

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value

0 0 0 0 0 0

ei_sq y_dif y_dif_sq


0.00073818951 -0.00017 0.000000
0.00042498867 0.07723 0.005964
0.00011598592 -0.00787 0.000062
0.00249427529 -0.00267 0.000007
0.00026670031 0.04973 0.002473
0.00039067279 -0.00147 0.000002
0.00693072347 0.07573 0.005735
0.00053294213 0.13513 0.018260
0.00102528287 -0.00087 0.000001
0.00019078195 0.04853 0.002355
0.00278025532 0.04243 0.001800
0.00348002354 0.02673 0.000714
0.00065685879 0.02273 0.000517
0.00335924034 -0.12127 0.014707
6.23351E-05 0.04933 0.002433
0.0030836005 -0.02017 0.000407
0.02471818519 -0.08557 0.007322
6.0129179E-06 -0.07427 0.005516
0.00038917392 0.20643 0.042613
0.00100998457 0.12163 0.014793
0.00043088186 0.07833 0.006135
0.00070164464 0.07703 0.005933
0.00136510966 0.10883 0.011844
0.00277511588 0.04053 0.001643
0.00089463998 0.09833 0.009668
0.00010442812 0.18803 0.035355
0.00132215545 0.05313 0.002823
1.0212541E-05 -0.05917 0.003501
0.00020649594 0.00723 0.000052
4.5068753E-07 -0.00057 0.000000
0.00131710663 0.06483 0.004203
0.00086702199 0.08313 0.006911
0.00014275285 -0.00217 0.000005
0.00100126369 -0.06737 0.004539
0.00017695959 0.01943 0.000378
0.00136704909 -0.06117 0.003742
0.00041638486 0.03913 0.001531
0.00554647422 -0.07907 0.006252
0.00270568282 0.04833 0.002336
0.01234560849 -0.03633 0.001320
0.00095101392 0.08767 0.007686
0.00100919599 0.00637 0.000041
0.00045162096 0.01047 0.000110
0.00114736562 0.09947 0.009894
0.00057445624 0.07237 0.005237
0.0005065745 -0.05273 0.002781
0.00010390557 0.00537 0.000029
8.7686793E-06 -0.05263 0.002770
0.00080094952 -0.09163 0.008397
0.00129491622 0.03857 0.001487
0.01637241772 -0.07473 0.005585
1.5358601E-05 -0.19209 0.036899
0.00583810327 -0.02609 0.000681
0.0001812707 0.03501 0.001226
0.01783411382 -0.11149 0.012430
0.00985256316 -0.01369 0.000187
0.01056485016 -0.12429 0.015448
0.00727991355 -0.12459 0.015523
0.00230039279 0.11121 0.012368
0.00781780099 -0.16549 0.027387
4.7372433E-05 0.11621 0.013505
0.015185806 -0.11139 0.012408
0.00365538274 -0.25109 0.063046
0.00134581264 -0.12757 0.016275
0.02610371713 0.23683 0.056087
0.00354718772 0.00073 0.000001

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.20177366096 0.523962

Style Selection
R_sq 0.61 0.39

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value
0 0 0 0.00158541131 0 0

ei_sq y_dif y_dif_sq


0.00073559865 0.00026 0.000000
0.0004228776 0.07766 0.006031
0.00011605291 -0.00744 0.000055
0.00249213052 -0.00224 0.000005
0.00026545064 0.05016 0.002516
0.00038857877 -0.00104 0.000001
0.00692797735 0.07616 0.005800
0.00053630579 0.13556 0.018376
0.00102004606 -0.00044 0.000000
0.00019110567 0.04896 0.002397
0.00278213472 0.04286 0.001837
0.00348560559 0.02716 0.000738
0.00064789123 0.02316 0.000536
0.00335625563 -0.12084 0.014603
6.2772001E-05 0.04976 0.002476
0.00307170828 -0.01974 0.000390
0.02469626527 -0.08514 0.007249
5.5531596E-06 -0.07384 0.005453
0.00039178123 0.20686 0.042790
0.00100760182 0.12206 0.014898
0.00042770875 0.07876 0.006203
0.00070089443 0.07746 0.006000
0.00135680017 0.10926 0.011937
0.00276445909 0.04096 0.001678
0.00088647533 0.09876 0.009753
0.00010666116 0.18846 0.035516
0.00132737569 0.05356 0.002868
1.0367139E-05 -0.05874 0.003451
0.00020566661 0.00766 0.000059
4.2920308E-07 -0.00014 0.000000
0.00130699639 0.06526 0.004259
0.00086142153 0.08356 0.006982
0.00013944864 -0.00174 0.000003
0.00100121941 -0.06694 0.004481
0.00017806798 0.01986 0.000394
0.00136030594 -0.06074 0.003690
0.00042423982 0.03956 0.001565
0.00552917056 -0.07864 0.006184
0.0026957757 0.04876 0.002377
0.01232738025 -0.03590 0.001289
0.00094618472 0.08810 0.007761
0.00101670401 0.00680 0.000046
0.00045297371 0.01090 0.000119
0.0011510615 0.09990 0.009979
0.00057104184 0.07280 0.005299
0.00050175151 -0.05230 0.002736
0.00010064808 0.00580 0.000034
9.4134161E-06 -0.05220 0.002725
0.00080254861 -0.09120 0.008318
0.00130432208 0.03900 0.001521
0.016337342 -0.07430 0.005521
1.4502777E-05 -0.19166 0.036734
0.00586144083 -0.02566 0.000658
0.00018108897 0.03544 0.001256
0.01786805039 -0.11106 0.012335
0.0098506455 -0.01326 0.000176
0.01058539957 -0.12386 0.015342
0.00729056936 -0.12416 0.015416
0.00231629321 0.11164 0.012463
0.00783181699 -0.16506 0.027245
4.9162589E-05 0.11664 0.013605
0.01521130593 -0.11096 0.012312
0.00367607195 -0.25066 0.062831
0.00133687724 -0.12714 0.016166
0.02610493081 0.23726 0.056291
0.00354007671 0.00116 0.000001

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.20111502551 0.523436

Style Selection
R_sq 0.62 0.38

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value
0 0 0 0.00238479143 0 0

ei_sq y_dif y_dif_sq


0.00091790635 -0.00207 0.000004
0.00053622999 0.07533 0.005675
6.2026788E-05 -0.00977 0.000095
0.00277597171 -0.00457 0.000021
0.00036842951 0.04783 0.002288
0.00051390455 -0.00337 0.000011
0.00732699625 0.07383 0.005451
0.00043206275 0.13323 0.017751
0.0012117999 -0.00277 0.000008
0.00026742673 0.04663 0.002175
0.00302871335 0.04053 0.001643
0.00374932527 0.02483 0.000617
0.00081896942 0.02083 0.000434
0.00375326767 -0.12317 0.015170
2.5347328E-05 0.04743 0.002250
0.00345363967 -0.02207 0.000487
0.02557986305 -0.08747 0.007650
3.7813435E-05 -0.07617 0.005801
0.00031152061 0.20453 0.041834
0.00087472613 0.11973 0.014336
0.00054392107 0.07643 0.005842
0.00056466111 0.07513 0.005645
0.00155788513 0.10693 0.011435
0.003069893 0.03863 0.001493
0.00105676317 0.09643 0.009299
6.3818037E-05 0.18613 0.034646
0.00150720947 0.05123 0.002625
4.2278244E-05 -0.06107 0.003729
0.00030190425 0.00533 0.000028
1.3133363E-05 -0.00247 0.000006
0.00113252991 0.06293 0.003961
0.00103278069 0.08123 0.006599
8.1965193E-05 -0.00407 0.000017
0.00121988108 -0.06927 0.004798
0.00025916666 0.01753 0.000307
0.00111676877 -0.06307 0.003977
0.00051340914 0.03723 0.001386
0.00604018239 -0.08097 0.006555
0.00298268936 0.04643 0.002156
0.01297796162 -0.03823 0.001461
0.00111887174 0.08577 0.007357
0.00118581281 0.00447 0.000020
0.00032874059 0.00857 0.000073
0.0013216116 0.09757 0.009520
0.00071694468 0.07047 0.004966
0.00037041306 -0.05463 0.002984
5.5908681E-05 0.00347 0.000012
3.6451648E-05 -0.05453 0.002973
0.00101537695 -0.09353 0.008747
0.00147548632 0.03667 0.001345
0.01718522401 -0.07663 0.005872
7.2266183E-05 -0.19398 0.037630
0.00622402019 -0.02798 0.000783
0.00010801445 0.03312 0.001097
0.01857646791 -0.11338 0.012856
0.01036898944 -0.01558 0.000243
0.01117218774 -0.12618 0.015923
0.00781499531 -0.12648 0.015998
0.00202002805 0.10932 0.011950
0.00838692075 -0.16738 0.028018
1.7809443E-05 0.11432 0.013068
0.0158185104 -0.11328 0.012833
0.00416015581 -0.25298 0.064001
0.00164534974 -0.12947 0.016762
0.0252168622 0.23493 0.055193
0.00389908835 -0.00117 0.000001

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.20667421998 0.508552

Style Selection
R_sq 0.59 0.41
Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value
0 0 0 0.00790927408 0 0

ei_sq y_dif y_dif_sq


0.00091291767 -0.00114 0.000001
0.000536087 0.07626 0.005816
4.2424799E-05 -0.00884 0.000078
0.00274262684 -0.00364 0.000013
0.00035491298 0.04876 0.002378
0.00052921611 -0.00244 0.000006
0.00736800192 0.07476 0.005590
0.00039482157 0.13416 0.018000
0.0012524945 -0.00184 0.000003
0.00029530046 0.04756 0.002262
0.00307909532 0.04146 0.001719
0.00390297651 0.02576 0.000664
0.00076991611 0.02176 0.000474
0.00380997813 -0.12224 0.014942
2.2786231E-05 0.04836 0.002339
0.00336993443 -0.02114 0.000447
0.02536129304 -0.08654 0.007489
4.86673E-05 -0.07524 0.005661
0.00033077535 0.20546 0.042215
0.00082588527 0.12066 0.014560
0.00054925849 0.07736 0.005985
0.00059386206 0.07606 0.005786
0.00153497782 0.10786 0.011635
0.00298858943 0.03956 0.001565
0.00096669938 0.09736 0.009480
7.371723E-05 0.18706 0.034993
0.0014693612 0.05216 0.002721
3.3442834E-05 -0.06014 0.003616
0.00030883612 0.00626 0.000039
2.0232396E-05 -0.00154 0.000002
0.00106935649 0.06386 0.004079
0.00104643111 0.08216 0.006751
7.8652185E-05 -0.00314 0.000010
0.00123290417 -0.06834 0.004670
0.00025761237 0.01846 0.000341
0.00111008537 -0.06214 0.003861
0.00052754415 0.03816 0.001457
0.00612556779 -0.08004 0.006406
0.00297854237 0.04736 0.002243
0.01288547217 -0.03730 0.001391
0.00109990805 0.08670 0.007517
0.00117657112 0.00540 0.000029
0.00031849944 0.00950 0.000090
0.00135468884 0.09850 0.009703
0.00070173565 0.07140 0.005098
0.00031824698 -0.05370 0.002883
5.7950914E-05 0.00440 0.000019
3.191797E-05 -0.05360 0.002873
0.0009592534 -0.09260 0.008574
0.00145653584 0.03760 0.001414
0.01699117562 -0.07570 0.005730
7.2532049E-05 -0.19305 0.037270
0.00618112885 -0.02705 0.000732
0.00012172443 0.03405 0.001159
0.01854379791 -0.11245 0.012646
0.01029598625 -0.01465 0.000215
0.01126439075 -0.12525 0.015689
0.00789638513 -0.12555 0.015764
0.00205195801 0.11025 0.012154
0.00863459612 -0.16645 0.027707
2.2247395E-05 0.11525 0.013281
0.01587028783 -0.11235 0.012624
0.00413684151 -0.25205 0.063532
0.00162847836 -0.12854 0.016522
0.02542080788 0.23586 0.055631
0.00386849607 -0.00024 0.000000

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.2062638429 0.506258

Style Selection
R_sq 0.59 0.41

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value

0 0 0 0 0 0

ei_sq y_dif y_dif_sq


0.00095395844 -0.00156 0.000002
0.00053875702 0.07584 0.005752
5.8263555E-05 -0.00926 0.000086
0.0027925612 -0.00406 0.000016
0.00038068185 0.04834 0.002337
0.00053206077 -0.00286 0.000008
0.0072881253 0.07434 0.005527
0.000436574 0.13374 0.017887
0.001238081 -0.00226 0.000005
0.00026322758 0.04714 0.002222
0.0029886294 0.04104 0.001684
0.00368688646 0.02534 0.000642
0.00086723098 0.02134 0.000455
0.0038383756 -0.12266 0.015045
2.2579528E-05 0.04794 0.002298
0.003555981 -0.02156 0.000465
0.02566673195 -0.08696 0.007562
5.487242E-05 -0.07566 0.005724
0.00032343175 0.20504 0.042042
0.00090555294 0.12024 0.014458
0.00055091232 0.07694 0.005920
0.00056294042 0.07564 0.005722
0.00157492149 0.10744 0.011544
0.00311130938 0.03914 0.001532
0.00107996336 0.09694 0.009398
6.491052E-05 0.18664 0.034835
0.0014780781 0.05174 0.002677
4.9695949E-05 -0.06056 0.003667
0.00031671757 0.00584 0.000034
1.5675653E-05 -0.00196 0.000004
0.00116021543 0.06344 0.004025
0.00105358102 0.08174 0.006682
8.5067499E-05 -0.00356 0.000013
0.00126204698 -0.06876 0.004728
0.00025986779 0.01804 0.000326
0.0010780823 -0.06256 0.003913
0.0004726162 0.03774 0.001424
0.00618037326 -0.08046 0.006473
0.00300840251 0.04694 0.002204
0.01306784631 -0.03772 0.001423
0.0011321607 0.08628 0.007444
0.00116392897 0.00498 0.000025
0.00030957798 0.00908 0.000082
0.0012992685 0.09808 0.009620
0.00073639512 0.07098 0.005038
0.00036034754 -0.05412 0.002929
6.2040254E-05 0.00398 0.000016
3.7580565E-05 -0.05402 0.002918
0.00106535747 -0.09302 0.008653
0.00143130962 0.03718 0.001382
0.01741104317 -0.07612 0.005794
0.00011291813 -0.19348 0.037434
0.00613130988 -0.02748 0.000755
0.00010029217 0.03362 0.001130
0.018503481 -0.11288 0.012741
0.0103605605 -0.01508 0.000227
0.01116401678 -0.12568 0.015795
0.00785491281 -0.12598 0.015870
0.00194618385 0.10982 0.012061
0.00843327718 -0.16688 0.027848
1.4650535E-05 0.11482 0.013184
0.01571930208 -0.11278 0.012719
0.00426440354 -0.25248 0.063745
0.00176952137 -0.12896 0.016631
0.02517635219 0.23544 0.055432
0.00394896971 -0.00066 0.000000

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.20389297473 0.505802

Style Selection
R_sq 0.60 0.40

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value
0 0 0 0 0 0

ei_sq y_dif y_dif_sq


0.00087465562 -0.00333 0.000011
0.00049769392 0.07407 0.005486
7.6260968E-05 -0.01103 0.000122
0.00268642625 -0.00583 0.000034
0.00033839372 0.04657 0.002168
0.00047990238 -0.00463 0.000021
0.00716435434 0.07257 0.005266
0.00046865932 0.13197 0.017415
0.00116116145 -0.00403 0.000016
0.00023683487 0.04537 0.002058
0.00291663527 0.03927 0.001542
0.00361619607 0.02357 0.000555
0.00078958306 0.01957 0.000383
0.00366521136 -0.12443 0.015484
3.4269201E-05 0.04617 0.002131
0.00338486588 -0.02333 0.000544
0.02533284076 -0.08873 0.007874
3.1845694E-05 -0.07743 0.005996
0.00034501985 0.20327 0.041317
0.00094019808 0.11847 0.014034
0.00050743575 0.07517 0.005650
0.00060955826 0.07387 0.005456
0.0015001136 0.10567 0.011165
0.0029913125 0.03737 0.001396
0.00101317901 0.09517 0.009057
7.7445953E-05 0.18487 0.034175
0.00142360162 0.04997 0.002497
3.2350335E-05 -0.06233 0.003885
0.00027525775 0.00407 0.000017
7.8638831E-06 -0.00373 0.000014
0.00121315104 0.06167 0.003803
0.00098622042 0.07997 0.006395
0.00010347713 -0.00533 0.000028
0.00116642772 -0.07053 0.004975
0.0002291358 0.01627 0.000265
0.00117651391 -0.06433 0.004139
0.0004536357 0.03597 0.001294
0.00595192421 -0.08223 0.006762
0.00290092839 0.04517 0.002040
0.01281206712 -0.03949 0.001560
0.00106717197 0.08451 0.007141
0.00110920331 0.00321 0.000010
0.00035662554 0.00731 0.000053
0.00124594729 0.09631 0.009275
0.00067730846 0.06921 0.004789
0.0004090194 -0.05589 0.003124
7.5284658E-05 0.00221 0.000005
2.5187668E-05 -0.05579 0.003113
0.00096725947 -0.09479 0.008986
0.00138413679 0.03541 0.001254
0.01703993343 -0.07789 0.006068
6.7596321E-05 -0.19525 0.038123
0.00603055711 -0.02925 0.000856
0.00012607885 0.03185 0.001014
0.01827002129 -0.11465 0.013145
0.01018283121 -0.01685 0.000284
0.0109528832 -0.12745 0.016244
0.00765039199 -0.12775 0.016321
0.0020679591 0.10805 0.011674
0.00821408907 -0.16865 0.028444
2.398579E-05 0.11305 0.012780
0.01553487755 -0.11455 0.013122
0.0040423198 -0.25425 0.064644
0.00161170204 -0.13073 0.017092
0.02549843436 0.23367 0.054599
0.00380538462 -0.00243 0.000006

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.17518485403 0.498086

Style Selection
R_sq 0.65 0.35

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value
0 0 0 0 0 0

ei_sq y_dif y_dif_sq


0.00160159658 -0.00495 0.000024
0.00114010605 0.07245 0.005249
4.9989276E-06 -0.01265 0.000160
0.00397038814 -0.00745 0.000055
0.00085994554 0.04495 0.002021
0.00107105396 -0.00625 0.000039
0.00931777765 0.07095 0.005034
9.6570698E-05 0.13035 0.016992
0.00202658344 -0.00565 0.000032
0.00072963842 0.04375 0.001914
0.00436310207 0.03765 0.001418
0.00523802033 0.02195 0.000482
0.00147855746 0.01795 0.000322
0.00500338039 -0.12605 0.015888
2.6095891E-05 0.04455 0.001985
0.00466180075 -0.02495 0.000622
0.02899030498 -0.09035 0.008163
0.00022412811 -0.07905 0.006248
4.0311491E-05 0.20165 0.040664
0.00033808403 0.11685 0.013655
0.00114760616 0.07355 0.005410
0.00017910149 0.07225 0.005220
0.00250596293 0.10405 0.010827
0.00431579892 0.03575 0.001278
0.00184602304 0.09355 0.008752
9.285563E-06 0.18325 0.033582
0.00246497866 0.04835 0.002338
0.00025629726 -0.06395 0.004089
0.00074517392 0.00245 0.000006
0.00018595004 -0.00535 0.000029
0.00053101937 0.06005 0.003607
0.00180485973 0.07835 0.006139
1.36377E-06 -0.00695 0.000048
0.00197568207 -0.07215 0.005205
0.00069661345 0.01465 0.000215
0.00058740708 -0.06595 0.004349
0.00114875791 0.03435 0.001180
0.00760584048 -0.08385 0.007030
0.00423840103 0.04355 0.001897
0.0154003873 -0.04111 0.001690
0.00192999128 0.08289 0.006871
0.00202358122 0.00159 0.000003
7.0308279E-05 0.00569 0.000032
0.00222182744 0.09469 0.008967
0.00136639005 0.06759 0.004569
9.2265096E-05 -0.05751 0.003307
9.1897859E-06 0.00059 0.000000
0.00025465798 -0.05741 0.003296
0.00167975908 -0.09641 0.009295
0.0024339776 0.03379 0.001142
0.01980500052 -0.07951 0.006322
0.0002550091 -0.19687 0.038756
0.00805419869 -0.03087 0.000953
2.9353826E-07 0.03023 0.000914
0.02152817216 -0.11627 0.013518
0.01264023048 -0.01847 0.000341
0.01342379818 -0.12907 0.016658
0.00965949136 -0.12937 0.016735
0.00123530873 0.10643 0.011328
0.01027171316 -0.17027 0.028990
3.7755352E-05 0.11143 0.012418
0.01863260784 -0.11617 0.013494
0.00533027572 -0.25587 0.065467
0.00240986758 -0.13235 0.017516
0.02205121648 0.23205 0.053848
0.00525983545 -0.00405 0.000016

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.21070162784 0.491965

Style Selection
R_sq 0.57 0.43

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value

0 0 0 0 0 0

ei_sq y_dif y_dif_sq


0.00164407035 -0.00066 0.000000
0.00106868196 0.07674 0.005890
3.7403958E-06 -0.00836 0.000070
0.00389048888 -0.00316 0.000010
0.00084594739 0.04924 0.002425
0.00106668282 -0.00196 0.000004
0.00898192057 0.07524 0.005662
0.00013179691 0.13464 0.018129
0.00200330106 -0.00136 0.000002
0.00065915828 0.04804 0.002308
0.0041013543 0.04194 0.001759
0.00490824281 0.02624 0.000689
0.00153087255 0.02224 0.000495
0.00513525747 -0.12176 0.014825
2.3197544E-05 0.04884 0.002386
0.00481016015 -0.02066 0.000427
0.02881555603 -0.08606 0.007406
0.00029821832 -0.07476 0.005589
7.4694909E-05 0.20594 0.042413
0.00043096892 0.12114 0.014676
0.00108703205 0.07784 0.006060
0.00020220522 0.07654 0.005859
0.00241944184 0.10834 0.011738
0.0042693433 0.04004 0.001603
0.00179776247 0.09784 0.009573
1.8297672E-06 0.18754 0.035173
0.00228891037 0.05264 0.002771
0.00027998213 -0.05966 0.003559
0.00075133845 0.00674 0.000045
0.00018362418 -0.00106 0.000001
0.00060720745 0.06434 0.004140
0.0017645111 0.08264 0.006830
7.684296E-08 -0.00266 0.000007
0.00204422257 -0.06786 0.004604
0.00065719878 0.01894 0.000359
0.00053383218 -0.06166 0.003801
0.00096193817 0.03864 0.001493
0.00780482212 -0.07956 0.006329
0.00414308431 0.04784 0.002289
0.01534938474 -0.03682 0.001356
0.00186292873 0.08718 0.007601
0.00189711993 0.00588 0.000035
6.310114E-05 0.00998 0.000100
0.00206628669 0.09898 0.009798
0.00134754138 0.07188 0.005167
8.7478674E-05 -0.05322 0.002832
2.4268692E-06 0.00488 0.000024
0.00024657236 -0.05312 0.002821
0.00179788053 -0.09212 0.008486
0.00222700354 0.03808 0.001450
0.02006672746 -0.07522 0.005658
0.00043144251 -0.19258 0.037085
0.00768582763 -0.02658 0.000706
1.5758174E-07 0.03452 0.001192
0.02116699276 -0.11198 0.012538
0.01237772253 -0.01418 0.000201
0.0132674811 -0.12478 0.015569
0.00964762974 -0.12508 0.015644
0.00118567102 0.11072 0.012260
0.01029107174 -0.16598 0.027548
3.279032E-05 0.11572 0.013392
0.01816656177 -0.11188 0.012516
0.00564685353 -0.25158 0.063290
0.00270356795 -0.12806 0.016399
0.02224347647 0.23634 0.055858
0.00524632394 0.00024 0.000000

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.20933735487 0.450436
Style Selection
R_sq 0.54 0.46

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value
0 0 0 0.15831115391 0 0

ei_sq y_dif y_dif_sq


0.00081243768 0.00198 0.000004
0.00073087588 0.07938 0.006301
2.0314744E-06 -0.00572 0.000033
0.00326173457 -0.00052 0.000000
0.00044815836 0.05188 0.002691
0.00050546456 0.00068 0.000000
0.00851593006 0.07788 0.006065
0.00026057374 0.13728 0.018845
0.00121933479 0.00128 0.000002
0.00084523859 0.05068 0.002568
0.00478050263 0.04458 0.001987
0.00606624887 0.02888 0.000834
0.0001732772 0.02488 0.000619
0.00451951435 -0.11912 0.014190
6.5504514E-06 0.05148 0.002650
0.00212451304 -0.01802 0.000325
0.0254228063 -0.08342 0.006959
2.3781547E-06 -0.07212 0.005202
0.00018179561 0.20858 0.043504
0.00011430747 0.12378 0.015321
0.00065400977 0.08048 0.006477
0.00020713267 0.07918 0.006269
0.00099509064 0.11098 0.012316
0.00245588724 0.04268 0.001821
0.00045363402 0.10048 0.010096
0.00011556872 0.19018 0.036167
0.00403712444 0.05528 0.003056
0.00031247223 -0.05702 0.003251
0.00035802177 0.00938 0.000088
7.059163E-05 0.00158 0.000002
9.2764583E-05 0.06698 0.004486
0.00085432584 0.08528 0.007272
0.0006468072 -0.00002 0.000000
0.00107457403 -0.06522 0.004254
0.00092252595 0.02158 0.000466
0.00045954631 -0.05902 0.003484
0.00311341136 0.04128 0.001704
0.00455098882 -0.07692 0.005917
0.00202641886 0.05048 0.002548
0.01256620549 -0.03418 0.001169
0.00075273294 0.08982 0.008067
0.00337154026 0.00852 0.000073
0.00020663271 0.01262 0.000159
0.00300727259 0.10162 0.010326
0.00053860625 0.07452 0.005553
6.9053591E-06 -0.05058 0.002559
0.00040894839 0.00752 0.000056
0.00084093876 -0.05048 0.002549
0.00140533057 -0.08948 0.008007
0.00437590299 0.04072 0.001658
0.01491291775 -0.07258 0.005268
0.00015140957 -0.18994 0.036078
0.0105677968 -0.02394 0.000573
2.4190994E-06 0.03716 0.001381
0.02639297629 -0.10934 0.011956
0.01057917115 -0.01154 0.000133
0.01655256696 -0.12214 0.014919
0.01036124473 -0.12244 0.014992
0.00330558293 0.11336 0.012850
0.01242926473 -0.16334 0.026680
0.0001707143 0.11836 0.014009
0.02284898763 -0.10924 0.011934
0.00798692329 -0.24894 0.061972
0.00118160129 -0.12542 0.015731
0.0239652853 0.23898 0.057109
0.00319862936 0.00288 0.000008

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.21548940355 0.435441

Style Selection
R_sq 0.51 0.49

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value

0 0 0 0 0 0

ei_sq y_dif y_dif_sq


0.00103740542 0.00377 0.000014
0.000478029 0.08117 0.006588
5.9168851E-05 -0.00393 0.000015
0.00272761858 0.00127 0.000002
0.00038242158 0.05367 0.002880
0.00054751189 0.00247 0.000006
0.00687049889 0.07967 0.006347
0.00053850642 0.13907 0.019339
0.00123890616 0.00307 0.000009
0.00020847677 0.05247 0.002753
0.00267900644 0.04637 0.002150
0.00328385453 0.03067 0.000940
0.00096203054 0.02667 0.000711
0.00408858991 -0.11733 0.013767
2.2987742E-05 0.05327 0.002837
0.00382820658 -0.01623 0.000264
0.02553469724 -0.08163 0.006664
0.00013645932 -0.07033 0.004947
0.00045636241 0.21037 0.044254
0.00112915511 0.12557 0.015767
0.00050199424 0.08227 0.006768
0.00060897392 0.08097 0.006555
0.00149585704 0.11277 0.012716
0.00309494072 0.04447 0.001977
0.00104746281 0.10227 0.010458
0.00010892904 0.19197 0.036851
0.0012873614 0.05707 0.003256
7.5673973E-05 -0.05523 0.003051
0.00033960218 0.01117 0.000125
1.8152827E-05 0.00337 0.000011
0.0013162956 0.06877 0.004729
0.00103085627 0.08707 0.007581
0.00010534053 0.00177 0.000003
0.00138706087 -0.06343 0.004024
0.00023414554 0.02337 0.000546
0.00093050311 -0.05723 0.003276
0.00030230109 0.04307 0.001855
0.00655262707 -0.07513 0.005645
0.00292311829 0.05227 0.002732
0.01309098954 -0.03240 0.001049
0.00107637983 0.09160 0.008391
0.00103554753 0.01030 0.000106
0.00026946111 0.01440 0.000207
0.001134993 0.10340 0.010692
0.00073734819 0.07630 0.005822
0.00032826588 -0.04880 0.002381
9.7784287E-05 0.00930 0.000087
3.7805451E-05 -0.04870 0.002371
0.00125632119 -0.08770 0.007691
0.00120429782 0.04250 0.001807
0.01793980059 -0.07080 0.005012
0.00036380478 -0.18815 0.035402
0.00566800603 -0.02215 0.000491
8.7035548E-05 0.03895 0.001517
0.01806644646 -0.10755 0.011568
0.01005505404 -0.00975 0.000095
0.01102001926 -0.12035 0.014485
0.00791588996 -0.12065 0.014557
0.00180477877 0.11515 0.013259
0.00854439819 -0.16155 0.026099
1.6652365E-05 0.12015 0.014435
0.01511853676 -0.10745 0.011546
0.00480354325 -0.24715 0.061085
0.00224220195 -0.12364 0.015286
0.02537750581 0.24076 0.057967
0.00398532423 0.00466 0.000022

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.17613739411 0.428821

Style Selection
R_sq 0.59 0.41

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value

0 0 0 0 0 0

ei_sq y_dif y_dif_sq


0.00080778001 0.00561 0.000031
0.00030472493 0.08301 0.006890
0.00013924914 -0.00209 0.000004
0.00230289552 0.00311 0.000010
0.00023936457 0.05551 0.003081
0.00037564961 0.00431 0.000019
0.00611795601 0.08151 0.006643
0.00077491007 0.14091 0.019854
0.00096760107 0.00491 0.000024
9.8593116E-05 0.05431 0.002949
0.00220794493 0.04821 0.002324
0.00274755633 0.03251 0.001057
0.00074454136 0.02851 0.000813
0.00363720305 -0.11549 0.013339
7.9192595E-05 0.05511 0.003037
0.00339870575 -0.01439 0.000207
0.0242130456 -0.07979 0.006367
7.3614379E-05 -0.06849 0.004692
0.0006886414 0.21221 0.045031
0.00148324493 0.12741 0.016232
0.00032627178 0.08411 0.007074
0.00084058563 0.08281 0.006857
0.0011797435 0.11461 0.013134
0.00265261324 0.04631 0.002144
0.00079266172 0.10411 0.010838
0.00022753786 0.19381 0.037561
0.00097276721 0.05891 0.003470
2.4877435E-05 -0.05339 0.002851
0.00020968529 0.01301 0.000169
5.573575E-08 0.00521 0.000027
0.00167205411 0.07061 0.004985
0.00078012149 0.08891 0.007904
0.00021315298 0.00361 0.000013
0.00112545555 -0.06159 0.003794
0.00012137694 0.02521 0.000635
0.00115990838 -0.05539 0.003068
0.00015082534 0.04491 0.002017
0.00599009464 -0.07329 0.005372
0.00247898803 0.05411 0.002928
0.01217598171 -0.03056 0.000934
0.00081331678 0.09344 0.008732
0.00076372359 0.01214 0.000147
0.00040948751 0.01624 0.000264
0.00084378025 0.10524 0.011076
0.00053193419 0.07814 0.006107
0.00048451819 -0.04696 0.002205
0.0002088175 0.01114 0.000124
4.2367337E-06 -0.04686 0.002195
0.00102410471 -0.08586 0.007371
0.00089290085 0.04434 0.001966
0.01697990358 -0.06896 0.004755
0.00028701227 -0.18631 0.034713
0.00496896626 -0.02031 0.000413
0.00017595023 0.04079 0.001664
0.01688480615 -0.10571 0.011175
0.00918322317 -0.00791 0.000063
0.01014511024 -0.11851 0.014045
0.00721760844 -0.11881 0.014117
0.00213424669 0.11699 0.013686
0.00782896924 -0.15971 0.025508
6.7799873E-05 0.12199 0.014881
0.01399511558 -0.10561 0.011154
0.00437495748 -0.24531 0.060178
0.00197894502 -0.12180 0.014834
0.02674686164 0.24260 0.058857
0.00349303803 0.00650 0.000042

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.1643672354 0.422117

Style Selection
R_sq 0.61 0.39

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value

0 0 0 0 0 0
ei_sq y_dif y_dif_sq
0.00095992816 0.00827 0.000068
0.0004033113 0.08567 0.007339
8.4741441E-05 0.00057 0.000000
0.00256005435 0.00577 0.000033
0.00032629959 0.05817 0.003384
0.00048255012 0.00697 0.000049
0.00654015626 0.08417 0.007085
0.0006344098 0.14357 0.020613
0.00113565216 0.00757 0.000057
0.00015791235 0.05697 0.003246
0.00246542481 0.05087 0.002588
0.00303531765 0.03517 0.001237
0.0008905181 0.03117 0.000972
0.00395066007 -0.11283 0.012730
3.9747271E-05 0.05777 0.003337
0.00370117803 -0.01173 0.000138
0.02503005589 -0.07713 0.005949
0.0001225285 -0.06583 0.004334
0.00055536976 0.21487 0.046169
0.00128407628 0.13007 0.016918
0.00042776141 0.08677 0.007529
0.00069570721 0.08547 0.007305
0.00136644061 0.11727 0.013752
0.00292686854 0.04897 0.002398
0.00094616637 0.10677 0.011400
0.00015457872 0.19647 0.038601
0.0011454927 0.06157 0.003791
5.6866737E-05 -0.05073 0.002573
0.00029099482 0.01567 0.000246
7.9647233E-06 0.00787 0.000062
0.00146254981 0.07327 0.005369
0.00093224344 0.09157 0.008385
0.00014354418 0.00627 0.000039
0.00130316808 -0.05893 0.003473
0.00018579022 0.02787 0.000777
0.0009935558 -0.05273 0.002780
0.00022441589 0.04757 0.002263
0.00638917863 -0.07063 0.004988
0.00274596323 0.05677 0.003223
0.01275449601 -0.02789 0.000778
0.00096923773 0.09611 0.009237
0.00091664435 0.01481 0.000219
0.00031226705 0.01891 0.000358
0.00100480686 0.10791 0.011645
0.00065826669 0.08081 0.006530
0.00037788988 -0.04429 0.001962
0.00013943109 0.01381 0.000191
2.1634817E-05 -0.04419 0.001953
0.00119209879 -0.08319 0.006921
0.001059573 0.04701 0.002210
0.01764964819 -0.06629 0.004394
0.00037361806 -0.18365 0.033727
0.00535206029 -0.01765 0.000311
0.0001142306 0.04345 0.001888
0.01757595356 -0.10305 0.010619
0.00969425043 -0.00525 0.000028
0.01067771303 -0.11585 0.013421
0.00766352946 -0.11615 0.013490
0.00190481855 0.11965 0.014317
0.00829196324 -0.15705 0.024664
3.1747223E-05 0.12465 0.015538
0.01462969874 -0.10295 0.010598
0.00471136484 -0.24265 0.058878
0.00220430876 -0.11913 0.014192
0.02590034395 0.24527 0.060157
0.00380545129 0.00917 0.000084

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.16989638837 0.408677

Style Selection
R_sq 0.58 0.42

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value

0 0 0 0 0 0

ei_sq y_dif y_dif_sq


0.00092112194 0.00944 0.000089
0.00038022171 0.08684 0.007541
9.6288577E-05 0.00174 0.000003
0.00250001558 0.00694 0.000048
0.00030466605 0.05934 0.003521
0.00045593428 0.00814 0.000066
0.00644951674 0.08534 0.007282
0.00066321693 0.14474 0.020949
0.00109501205 0.00874 0.000076
0.00014378617 0.05814 0.003380
0.00241067214 0.05204 0.002708
0.00297555189 0.03634 0.001320
0.00085289096 0.03234 0.001046
0.00386999233 -0.11166 0.012469
4.7775858E-05 0.05894 0.003474
0.00362254894 -0.01056 0.000112
0.02484036845 -0.07596 0.005770
0.00010778499 -0.06466 0.004181
0.00058139118 0.21604 0.046672
0.00132331071 0.13124 0.017223
0.0004037632 0.08794 0.007733
0.00072721521 0.08664 0.007506
0.00132319907 0.11844 0.014027
0.00286171534 0.05014 0.002514
0.00090967251 0.10794 0.011650
0.00016892726 0.19764 0.039060
0.00110784669 0.06274 0.003936
4.7640909E-05 -0.04956 0.002456
0.00027022858 0.01684 0.000284
4.8768312E-06 0.00904 0.000082
0.00150625604 0.07444 0.005541
0.00089585973 0.09274 0.008600
0.00015800506 0.00744 0.000055
0.00125736831 -0.05776 0.003336
0.0001699731 0.02904 0.000843
0.00103504208 -0.05156 0.002659
0.00020888257 0.04874 0.002375
0.00628546647 -0.06946 0.004825
0.00268408609 0.05794 0.003357
0.01261705794 -0.02672 0.000714
0.00093268257 0.09728 0.009463
0.00088230951 0.01598 0.000255
0.00033493214 0.02008 0.000403
0.00096932613 0.10908 0.011898
0.00062740873 0.08198 0.006720
0.00040254959 -0.04312 0.001860
0.00015324302 0.01498 0.000224
1.6343666E-05 -0.04302 0.001851
0.00114695015 -0.08202 0.006728
0.00102404554 0.04818 0.002321
0.01747867571 -0.06512 0.004241
0.00034464846 -0.18248 0.033300
0.00527153144 -0.01648 0.000272
0.000127889 0.04462 0.001991
0.01742293492 -0.10188 0.010380
0.00958031687 -0.00408 0.000017
0.01055497512 -0.11468 0.013152
0.0075563001 -0.11498 0.013221
0.00196095603 0.12082 0.014597
0.00817953991 -0.15588 0.024299
3.8913157E-05 0.12582 0.015830
0.01449369904 -0.10178 0.010360
0.00461816061 -0.24148 0.058313
0.00213851133 -0.11796 0.013916
0.02609271402 0.24644 0.060731
0.0037301247 0.01034 0.000107
sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.16540687165 0.406221

Style Selection
R_sq 0.59 0.41

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value

0 0 0 0 0 0

ei_sq y_dif y_dif_sq


0.00114976028 0.01207 0.000146
0.00053162106 0.08947 0.008005
3.9122565E-05 0.00437 0.000019
0.00286845124 0.00957 0.000092
0.00044152833 0.06197 0.003840
0.00062053603 0.01077 0.000116
0.0070335579 0.08797 0.007739
0.00049264203 0.14737 0.021718
0.00134313823 0.01137 0.000129
0.00024176024 0.06077 0.003693
0.00277264845 0.05467 0.002989
0.00337629267 0.03897 0.001519
0.00107337921 0.03497 0.001223
0.00432536524 -0.10903 0.011888
1.1250216E-05 0.06157 0.003791
0.00406354072 -0.00793 0.000063
0.0259745058 -0.07333 0.005377
0.00019434092 -0.06203 0.003848
0.00042249951 0.21867 0.047816
0.00107715898 0.13387 0.017921
0.00055939562 0.09057 0.008203
0.00054799162 0.08927 0.007969
0.00159468442 0.12107 0.014658
0.00325502858 0.05277 0.002785
0.00113694183 0.11057 0.012226
8.9109009E-05 0.20027 0.040108
0.00135731395 0.06537 0.004273
0.00010942047 -0.04693 0.002202
0.00039986515 0.01947 0.000379
3.3250123E-05 0.01167 0.000136
0.00124277682 0.07707 0.005940
0.00112149525 0.09537 0.009096
8.1221827E-05 0.01007 0.000101
0.00152237207 -0.05513 0.003039
0.00027539751 0.03167 0.001003
0.00081874729 -0.04893 0.002394
0.00032435481 0.05137 0.002639
0.0068623403 -0.06683 0.004466
0.00306538337 0.06057 0.003669
0.01342900374 -0.02409 0.000580
0.00116264495 0.09991 0.009982
0.00110630887 0.01861 0.000346
0.00021735761 0.02271 0.000516
0.00120349686 0.11171 0.012479
0.000818304 0.08461 0.007159
0.00027243477 -0.04049 0.001640
7.7821047E-05 0.01761 0.000310
5.7769352E-05 -0.04039 0.001631
0.00140063429 -0.07939 0.006303
0.00126437272 0.05081 0.002581
0.01843218668 -0.06249 0.003905
0.00048947766 -0.17985 0.032346
0.00580074788 -0.01385 0.000192
6.0074814E-05 0.04725 0.002233
0.01837476514 -0.09925 0.009850
0.0102894036 -0.00145 0.000002
0.01129866209 -0.11205 0.012555
0.00818752187 -0.11235 0.012622
0.00165848504 0.12345 0.015240
0.00883577466 -0.15325 0.023485
7.1835029E-06 0.12845 0.016500
0.01536291274 -0.09915 0.009831
0.00511449057 -0.23885 0.057049
0.00248032814 -0.11533 0.013301
0.02495598289 0.24907 0.062035
0.00417738354 0.01297 0.000168

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.17383857701 0.394287

Style Selection
R_sq 0.56 0.44

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value

0 0 0 0.02096705644 0 0

ei_sq y_dif y_dif_sq


0.0006951004 0.01708 0.000292
0.00018111004 0.09448 0.008926
0.00020300013 0.00938 0.000088
0.002016133 0.01458 0.000212
0.00015956896 0.06698 0.004486
0.00027396382 0.01578 0.000249
0.00545723026 0.09298 0.008645
0.00107611425 0.15238 0.023218
0.00076548458 0.01638 0.000268
4.1635179E-05 0.06578 0.004326
0.00183141588 0.05968 0.003561
0.00232848213 0.04398 0.001934
0.00056231322 0.03998 0.001598
0.0034827677 -0.10402 0.010821
0.00013593281 0.06658 0.004432
0.00314798021 -0.00292 0.000009
0.02311191834 -0.06832 0.004668
6.3756757E-05 -0.05702 0.003252
0.00101613611 0.22368 0.050031
0.00183809504 0.13888 0.019287
0.00019401916 0.09558 0.009135
0.00101410082 0.09428 0.008888
0.00088669485 0.12608 0.015895
0.00227489949 0.05778 0.003338
0.00055823793 0.11558 0.013358
0.00042335251 0.20528 0.042138
0.00078130802 0.07038 0.004953
1.6916048E-05 -0.04192 0.001758
0.00014841448 0.02448 0.000599
4.5308352E-06 0.01668 0.000278
0.00184766139 0.08208 0.006737
0.00057872618 0.10038 0.010076
0.00025164049 0.01508 0.000227
0.00104934643 -0.05012 0.002512
7.433537E-05 0.03668 0.001345
0.00112630498 -0.04392 0.001929
8.7619193E-05 0.05638 0.003178
0.00564748008 -0.06182 0.003822
0.00208015101 0.06558 0.004300
0.01144195376 -0.01908 0.000364
0.00060131547 0.10492 0.011007
0.00064803583 0.02362 0.000558
0.00049210797 0.02772 0.000768
0.00066215277 0.11672 0.013622
0.00039078897 0.08962 0.008031
0.00049916506 -0.03548 0.001259
0.00025963119 0.02262 0.000511
1.256994E-06 -0.03538 0.001252
0.00102410175 -0.07438 0.005533
0.00073012794 0.05582 0.003115
0.01626658179 -0.05748 0.003305
0.00036513038 -0.17484 0.030570
0.00462441369 -0.00884 0.000078
0.00022660103 0.05226 0.002731
0.01641209337 -0.09424 0.008882
0.00851261104 0.00356 0.000013
0.00983958487 -0.10704 0.011458
0.00699922501 -0.10734 0.011522
0.00245932945 0.12846 0.016501
0.0076725114 -0.14824 0.021976
0.00015580097 0.13346 0.017811
0.01336039165 -0.09414 0.008863
0.00474467714 -0.23384 0.054682
0.00195893866 -0.11033 0.012172
0.02769154065 0.25407 0.064554
0.00315310402 0.01797 0.000323

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.15488760737 0.353177

Style Selection
R_sq 0.56 0.44

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value

0 0 0 0.0209469572 0 0

ei_sq y_dif y_dif_sq


0.00062337428 0.01888 0.000356
0.00014596385 0.09628 0.009270
0.00024444567 0.01118 0.000125
0.00189390948 0.01638 0.000268
0.00012644422 0.06878 0.004731
0.00022989977 0.01758 0.000309
0.00525703684 0.09478 0.008983
0.00116775684 0.15418 0.023772
0.0006906849 0.01818 0.000331
2.5796572E-05 0.06758 0.004567
0.00171647319 0.06148 0.003780
0.00219897817 0.04578 0.002096
0.00049798313 0.04178 0.001746
0.00331916062 -0.10222 0.010449
0.00017019258 0.06838 0.004676
0.00299242661 -0.00112 0.000001
0.02269323348 -0.06652 0.004425
4.309646E-05 -0.05522 0.003049
0.0011046866 0.22548 0.050841
0.00195657736 0.14068 0.019791
0.00015752798 0.09738 0.009483
0.00110390538 0.09608 0.009231
0.00080652393 0.12788 0.016353
0.00214469922 0.05958 0.003550
0.00049485229 0.11738 0.013778
0.00048148689 0.20708 0.042882
0.00070669788 0.07218 0.005210
7.355634E-06 -0.04012 0.001609
0.0001164343 0.02628 0.000691
1.2377754E-05 0.01848 0.000342
0.00196746637 0.08388 0.007036
0.00051407685 0.10218 0.010441
0.00029736176 0.01688 0.000285
0.00096054162 -0.04832 0.002335
5.2421667E-05 0.03848 0.001481
0.00122272455 -0.04212 0.001774
6.4080141E-05 0.05818 0.003385
0.00543837149 -0.06002 0.003602
0.00195617012 0.06738 0.004540
0.01114710622 -0.01728 0.000299
0.00053554775 0.10672 0.011389
0.00057998572 0.02542 0.000646
0.00055601034 0.02952 0.000871
0.00059354549 0.11852 0.014047
0.00033788675 0.09142 0.008358
0.0005634758 -0.03368 0.001134
0.00030578399 0.02442 0.000596
7.1714487E-08 -0.03358 0.001128
0.00093584775 -0.07258 0.005268
0.00065825542 0.05762 0.003320
0.01591107039 -0.05568 0.003100
0.0003117211 -0.17304 0.029942
0.00444055336 -0.00704 0.000050
0.00027047827 0.05406 0.002923
0.01606135266 -0.09244 0.008545
0.00826070528 0.00536 0.000029
0.00956706235 -0.10524 0.011075
0.00676842127 -0.10554 0.011138
0.00259996757 0.13026 0.016968
0.00743038027 -0.14644 0.021444
0.0001922617 0.13526 0.018296
0.01304563763 -0.09234 0.008526
0.00455090124 -0.23204 0.053842
0.00183460131 -0.10852 0.011777
0.02815353895 0.25588 0.065474
0.00299904445 0.01978 0.000391

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.15122059699 0.348097

Style Selection
R_sq 0.57 0.43
Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value

0 0 0 0.01653156347 0 0

ei_sq y_dif y_dif_sq


0.00037963196 0.01782 0.000318
5.1758462E-05 0.09522 0.009068
0.00043843943 0.01012 0.000103
0.00147369862 0.01532 0.000235
3.6190173E-05 0.06772 0.004587
9.8234612E-05 0.01652 0.000273
0.00459284696 0.09372 0.008784
0.0015045223 0.15312 0.023447
0.00044861468 0.01712 0.000293
1.2692632E-08 0.06652 0.004426
0.00134642766 0.06042 0.003651
0.00177962044 0.04472 0.002000
0.00029358644 0.04072 0.001659
0.00269585925 -0.10328 0.010666
0.00033435196 0.06732 0.004533
0.0024190472 -0.00218 0.000005
0.02119985612 -0.06758 0.004566
3.2123863E-07 -0.05628 0.003167
0.00141654993 0.22442 0.050366
0.00239049363 0.13962 0.019495
5.8868611E-05 0.09632 0.009278
0.00147314059 0.09502 0.009030
0.00055737295 0.12682 0.016085
0.00170563289 0.05852 0.003425
0.00030310281 0.11632 0.013531
0.00069924869 0.20602 0.042446
0.00046749703 0.07112 0.005059
9.2598782E-06 -0.04117 0.001695
2.9229009E-05 0.02523 0.000636
7.8589748E-05 0.01743 0.000304
0.00245851483 0.08283 0.006860
0.00031293647 0.10113 0.010226
0.00051660362 0.01583 0.000250
0.00063966052 -0.04937 0.002438
3.9139288E-06 0.03743 0.001401
0.00168585709 -0.04317 0.001864
9.6190603E-06 0.05713 0.003263
0.00465547301 -0.06107 0.003730
0.00154765087 0.06633 0.004399
0.01009228265 -0.01834 0.000336
0.00033192219 0.10566 0.011165
0.00035546522 0.02436 0.000594
0.00084542076 0.02846 0.000810
0.00037645374 0.11746 0.013798
0.00017558085 0.09036 0.008166
0.00087334694 -0.03474 0.001207
0.00052071809 0.02336 0.000546
3.4756289E-05 -0.03464 0.001200
0.00060374866 -0.07364 0.005422
0.00042661053 0.05656 0.003199
0.01458262576 -0.05674 0.003219
0.00011628191 -0.17409 0.030309
0.00378829429 -0.00809 0.000066
0.00048142159 0.05301 0.002810
0.01474007638 -0.09349 0.008741
0.00738250361 0.00431 0.000019
0.00852988761 -0.10629 0.011298
0.00588217865 -0.10659 0.011362
0.00315994552 0.12921 0.016694
0.00648359635 -0.14749 0.021754
0.00035258551 0.13421 0.018011
0.0119104159 -0.09339 0.008722
0.00369411833 -0.23309 0.054333
0.00134582095 -0.10958 0.012007
0.02991744968 0.25482 0.064935
0.00245427977 0.01872 0.000351

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.14139583589 0.346445

Style Selection
R_sq 0.59 0.41

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value

0 0 0 0.01983524086 0 0

ei_sq y_dif y_dif_sq


0.00078974424 0.01851 0.000342
0.00024912097 0.09591 0.009198
0.00014979147 0.01081 0.000117
0.00221332547 0.01601 0.000256
0.00021442733 0.06841 0.004679
0.00034263754 0.01721 0.000296
0.00584048119 0.09441 0.008913
0.0009151529 0.15381 0.023656
0.00088309847 0.01781 0.000317
7.7961442E-05 0.06721 0.004517
0.0020624529 0.06111 0.003734
0.00259726894 0.04541 0.002062
0.00064964965 0.04141 0.001714
0.00367127742 -0.10259 0.010525
9.2856818E-05 0.06801 0.004625
0.00332762642 -0.00149 0.000002
0.0237653169 -0.06689 0.004475
8.2976348E-05 -0.05559 0.003091
0.00084651617 0.22511 0.050673
0.00161089655 0.14031 0.019686
0.00026280815 0.09701 0.009410
0.00087928439 0.09571 0.009160
0.0010286686 0.12751 0.016258
0.00247945391 0.05921 0.003505
0.00066707137 0.11701 0.013691
0.00032335555 0.20671 0.042728
0.00092764708 0.07181 0.005156
3.2804734E-05 -0.04049 0.001640
0.0001976353 0.02591 0.000671
3.5881759E-08 0.01811 0.000328
0.00164865255 0.08351 0.006974
0.0006862116 0.10181 0.010365
0.00018880262 0.01651 0.000273
0.00115674397 -0.04869 0.002371
0.00011589344 0.03811 0.001452
0.0010331784 -0.04249 0.001806
0.00014816662 0.05781 0.003342
0.00588513407 -0.06039 0.003647
0.00228887589 0.06701 0.004490
0.01188037923 -0.01765 0.000312
0.00071585882 0.10635 0.011309
0.00077233173 0.02505 0.000627
0.00041721605 0.02915 0.000849
0.00079545976 0.11815 0.013958
0.00047563936 0.09105 0.008289
0.00042496462 -0.03405 0.001160
0.00019024588 0.02405 0.000578
9.2081927E-06 -0.03395 0.001153
0.00111287815 -0.07295 0.005322
0.00087663456 0.05725 0.003277
0.01669156949 -0.05605 0.003142
0.00037357215 -0.17341 0.030072
0.0049772423 -0.00741 0.000055
0.00017462916 0.05369 0.002882
0.01699561748 -0.09281 0.008614
0.00894842038 0.00499 0.000025
0.0102550103 -0.10561 0.011154
0.00731626845 -0.10591 0.011217
0.00228847515 0.12989 0.016871
0.00799195313 -0.14681 0.021554
0.00010693251 0.13489 0.018195
0.01393290695 -0.09271 0.008595
0.00488247437 -0.23241 0.054015
0.002041325 -0.10889 0.011858
0.02698548525 0.25551 0.065283
0.00337857788 0.01941 0.000377

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.15816297136 0.345791

Style Selection
R_sq 0.54 0.46

Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth Large Cap Value

0 0 0 0.02549584874 0 0

ei_sq y_dif y_dif_sq


0.00053782279 0.01901 0.000361
0.00011496816 0.09641 0.009295
0.00029111032 0.01131 0.000128
0.00177481985 0.01651 0.000273
9.4087808E-05 0.06891 0.004749
0.00018304041 0.01771 0.000314
0.00510190078 0.09491 0.009008
0.00125591868 0.15431 0.023811
0.00060596206 0.01831 0.000335
1.576658E-05 0.06771 0.004585
0.00164182345 0.06161 0.003796
0.0021296258 0.04591 0.002108
0.0004053385 0.04191 0.001756
0.0031127875 -0.10209 0.010422
0.00021158562 0.06851 0.004694
0.00276771097 -0.00099 0.000001
0.02222511868 -0.06639 0.004408
1.7459603E-05 -0.05509 0.003035
0.00117739101 0.22561 0.050900
0.00202422287 0.14081 0.019827
0.00012263755 0.09751 0.009508
0.00118748896 0.09621 0.009256
0.00071876953 0.12801 0.016386
0.0019905948 0.05971 0.003565
0.00042044158 0.11751 0.013808
0.00054295868 0.20721 0.042936
0.00066422404 0.07231 0.005229
1.186929E-06 -0.03999 0.001599
8.4248029E-05 0.02641 0.000698
2.5408443E-05 0.01861 0.000346
0.00202754101 0.08401 0.007058
0.00044219562 0.10231 0.010468
0.00032783741 0.01701 0.000289
0.00085777624 -0.04819 0.002322
3.6758869E-05 0.03861 0.001491
0.00133270477 -0.04199 0.001763
6.1212008E-05 0.05831 0.003400
0.00512805739 -0.05989 0.003587
0.00181924795 0.06751 0.004558
0.01079529085 -0.01715 0.000294
0.00046757512 0.10685 0.011417
0.00054305692 0.02555 0.000653
0.00063946898 0.02965 0.000879
0.00055076973 0.11865 0.014077
0.00028044062 0.09155 0.008381
0.00062478096 -0.03355 0.001126
0.00032870314 0.02455 0.000603
1.936591E-06 -0.03345 0.001119
0.00082920269 -0.07245 0.005249
0.0006302138 0.05775 0.003335
0.01537585389 -0.05555 0.003086
0.00021192861 -0.17291 0.029897
0.00437322931 -0.00691 0.000048
0.00032271802 0.05419 0.002937
0.01585805081 -0.09231 0.008521
0.00804159603 0.00549 0.000030
0.00936632251 -0.10511 0.011048
0.00655562779 -0.10541 0.011111
0.0028253387 0.13039 0.017002
0.00720847477 -0.14631 0.021406
0.00024407344 0.13539 0.018331
0.012876306 -0.09221 0.008502
0.00434040617 -0.23191 0.053782
0.00161669908 -0.10839 0.011749
0.02860410421 0.25601 0.065540
0.00282153684 0.01991 0.000396

sum_ei_sq_rol sum_y_dif_sq_r
ling30 olling30
0.14836703683 0.345454

Style Selection
R_sq 0.57 0.43
European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij
0.703647948 0 0 0 0.29635205165 1.00000
European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij
0.703726289 0 0 0 0.29627371116 1.00000
European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij
0.702925464 0 0 0 0.29707453623 1.00000
European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij
0.70332955 0 0 0 0.29667044956 1.00000
European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij
0.70404562 0 0 0 0.29595438048 1.00000
European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij
0.704276114 0 0 0 0.29572388558 1.00000
European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij
0.704664852 0 0 0 0.29533514836 1.00000
European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij
0.714704516 0 0 0 0.28529548429 1.00000
European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij
0.704829516 0 0 0 0.29205417103 1.00000
European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij
0.704936353 0 0 0 0.29299462209 1.00000
European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij
0.702498742 0 0 0 0.29461574587 1.00000
European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij
0.708230385 0 0 0 0.2915188165 1.00000
European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij

0.717079087 0 0 0 0.28292091329 1.00000


European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij
0.717275407 0 0 0 0.28113918181 1.00000
European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij
0.711732263 0 0 0 0.28588294532 1.00000
European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij
0.712572537 0 0 0 0.27951818935 1.00000
European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij

0.706188666 0 0 0 0.29381133441 1.00000


European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij
0.710168566 0 0 0 0.28983143389 1.00000
European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij
0.719993344 0 0 0 0.28000665573 1.00000
European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij

0.704426294 0 0 0 0.2955737059 1.00000


European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij
0.764883253 0 0.07680559312 0 0 1.00000
European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij

0.680244297 0 0 0 0.31975570328 1.00000


European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij

0.674217481 0 0 0 0.32578251918 1.00000


European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij

0.674849159 0 0 0 0.32515084115 1.00000


European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij

0.675329008 0 0 0 0.32467099206 1.00000


European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij

0.675324247 0 0 0 0.32467575304 1.00000


European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij

0.658398212 0 0 0 0.32063473188 1.00000


European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij

0.658600612 0 0 0 0.3204524304 1.00000


European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij

0.663750647 0 0 0 0.31971778949 1.00000


European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij

0.663949589 0 0 0 0.31621517015 1.00000


European Japanese
Mid cap Small cap US-Stocks Stocks Stocks sum_bij

0.663317156 0 0 0 0.3111859953 1.00000


Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value
0.016706298518051 -3.2255292314 -0.909641 1.782113055 -0.627299 0.0020336 -0.060025
Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value
0.016226169871312 -3.2205838332 -0.887708 1.798770525 -0.65877 -0.000969 -0.059648
Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value
0.016831495420439 -3.3068436494 -0.892697 1.851331866 -0.682936 0.0020706 -0.061378
Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value
0.016921696556464 -3.6705516012 -0.62057 1.726826297 -0.602287 -0.005523 -0.060052
Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value
0.017432569045782 -3.679875715 -0.515823 1.663394878 -0.603468 0.0025703 -0.070348
Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value
0.017399301192746 -3.6756335346 -0.515361 1.660868514 -0.603085 0.0026359 -0.070266
Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value
0.016432227244125 -3.6544193834 -0.511761 1.661202318 -0.580786 -0.000469 -0.068386
Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value
0.02026311259521 -4.0889598299 -0.800219 1.685688936 -0.401153 -0.000539 -0.075555
Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value
0.021325882893746 -4.6916954799 -0.245675 1.291443509 -0.203409 0.0099638 -0.085141
Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value
0.025768505228092 -6.3159286639 0.18912 1.208269033 -0.063434 -0.024141 -0.063787
Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value
0.025053539339381 -6.2597433439 0.221303 1.196443844 -0.057254 -0.024114 -0.063343
Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value
0.026494013454189 -6.3940211579 0.169296 1.303363985 -0.120813 -0.017357 -0.066704
Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value

0.02674287383336 -6.398300452 0.187467 1.243509743 -0.099749 -0.016557 -0.067892


Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value
0.026705475373507 -6.5929891933 -0.013903 1.315792211 -0.008593 -0.021072 -0.069505
Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value
0.029697613177795 -7.0212302799 0.032427 1.395218031 -0.110403 -0.038015 -0.05888
Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value
0.030016946486527 -7.05361502 0.041675 1.383033202 -0.106107 -0.037092 -0.060949
Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value

0.030096350464776 -7.0267974218 0.118619 1.280720823 -0.054173 -0.034397 -0.063746


Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value
0.028917404082546 -5.8722658941 0.605577 0.545120867 0.005197 -0.041526 -0.051081
Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value
0.039690347171952 -7.7955903516 0.463656 1.097992616 -0.175404 -0.05245 -0.047459
Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value

0.039698510998799 -8.0406871236 0.314184 1.392632112 -0.252965 -0.052247 -0.043116


Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value
0.03215235253589 -7.438724907 0.667996 1.112809564 0.028304 -0.061653 -0.072148
Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value

0.03055389989906 -7.230173304 0.699126 1.036467489 0.066382 -0.060705 -0.070596


Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value

0.02656565204929 -6.4639771072 0.17311 1.228777356 0.056695 -0.070093 -0.071667


Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value

0.02914794928212 -6.9896239142 -0.136168 1.742364423 -0.094549 -0.096243 -0.049348


Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value

0.028531231329054 -6.9084094333 -0.174563 1.7244199 -0.078188 -0.102796 -0.048395


Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value

0.032089197116767 -7.5694226438 0.265312 1.549747272 -0.065721 -0.092636 -0.052827


Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value

0.024031461006352 -6.2922929471 -0.238374 1.468954165 0.074465 -0.110298 -0.057783


Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value

0.022640868978145 -5.9479420661 -0.388719 1.168886145 0.177779 -0.128499 -0.083089


Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value

0.017318738836149 -4.8908533399 -1.772046 1.785751762 0.166383 -0.139708 -0.084429


Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value

0.025951484872992 -5.9655296908 -1.806893 1.931305859 0.121667 -0.135168 -0.102425


Large
Large Cap Cap
Intercept TB Bond_1_3 Bond_3_8 Bond_8 Growth Value

0.021032530576887 -5.2899748659 -1.884606 1.942060604 0.226497 -0.122125 -0.119868


US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks
0.752502 -0.085748 0.243866 -0.282923 0.2822 -2.1118 0.2822
US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks
0.758452 -0.08719 0.270188 -0.312164 0.2739 -2.1095 0.2739
US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks
0.759639 -0.088598 0.266968 -0.306208 0.2748 -2.1670 0.2748
US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks
0.755154 -0.087009 0.263018 -0.302234 0.2819 -2.3044 0.2819
US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks
0.755836 -0.086233 0.258909 -0.298969 0.2825 -2.2740 0.2825
US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks
0.755884 -0.086239 0.259242 -0.29952 0.2823 -2.2717 0.2823
US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks
0.756878 -0.085842 0.289616 -0.330429 0.2781 -2.2299 0.2781
US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks
0.765615 -0.08869 0.282731 -0.309645 0.2860 -2.7245 0.2860
US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks
0.741583 -0.090579 0.2243 -0.259943 0.2934 -2.9945 0.2934
US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks
0.730881 -0.093376 0.203798 -0.252433 0.2852 -4.1701 0.2852
US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks
0.729131 -0.09259 0.209121 -0.261759 0.2883 -4.0895 0.2883
US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks
0.736894 -0.093789 0.204218 -0.253324 0.2813 -4.2244 0.2813
US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks

0.737467 -0.093318 0.200674 -0.249813 0.2790 -4.2507 0.2790


US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks
0.73751 -0.094655 0.193549 -0.237299 0.2597 -4.5048 0.2597
US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks
0.737014 -0.094182 0.233797 -0.270995 0.2456 -4.9199 0.2456
US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks
0.73692 -0.094426 0.228747 -0.264707 0.2455 -4.9510 0.2455
US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks

0.731189 -0.091434 0.220422 -0.263732 0.2574 -4.8958 0.2574


US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks
0.744345 -0.112503 0.138422 -0.165152 0.2810 -3.8939 0.2810
US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks
0.727832 -0.120017 0.177689 -0.19476 0.2806 -5.5982 0.2806
US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks

0.713901 -0.113783 0.178924 -0.204527 0.2839 -5.7841 0.2839


US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks
0.669073 -0.115311 0.147314 -0.187308 0.3574 -4.8601 0.3574
US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks

0.667318 -0.116779 0.141764 -0.189339 0.3596 -4.6664 0.3596


US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks

0.665953 -0.113184 0.148245 -0.182511 0.3650 -4.2370 0.3650


US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks

0.672543 -0.113243 0.181483 -0.223828 0.3820 -4.6954 0.3820


US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks

0.67316 -0.112404 0.190025 -0.231931 0.3777 -4.6629 0.3777


US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks

0.672103 -0.115307 0.174929 -0.225806 0.3899 -5.0377 0.3899


US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks

0.65351 -0.115604 0.149266 -0.194045 0.3612 -4.2769 0.3612


US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks

0.644724 -0.125349 0.118581 -0.212229 0.3735 -4.3797 0.3735


US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks

0.659356 -0.134812 0.061063 -0.152361 0.3762 -4.1082 0.3762


US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks

0.655731 -0.148481 -0.049389 -0.019726 0.3872 -5.1057 0.3872


US- European Japanese Japanese
Mid cap Small cap Stocks Stocks Stocks sum_bij Stocks

0.643087 -0.154504 -0.221248 0.193863 0.4119 -4.3539 0.4119


European Stocks US-Stocks Small cap Mid cap Large Cap Value
-0.2829234229 0.2438659679 -0.085747691302783 0.75250205472902 -0.060025231854055
European Stocks US-Stocks Small cap Mid cap Large Cap Value
-0.31216406248 0.27018836973 -0.087190247262891 0.7584519755865 -0.059648420439328
European Stocks US-Stocks Small cap Mid cap Large Cap Value
-0.30620803089 0.26696766001 -0.088598090003078 0.75963905785169 -0.061377777164399
European Stocks US-Stocks Small cap Mid cap Large Cap Value
-0.30223372089 0.26301808889 -0.08700928277349 0.75515441127606 -0.060052440986478
European Stocks US-Stocks Small cap Mid cap Large Cap Value
-0.29896886965 0.25890905813 -0.086232692821915 0.75583584502628 -0.070348192372106
European Stocks US-Stocks Small cap Mid cap Large Cap Value
-0.29952032846 0.25924193482 -0.086239211071853 0.7558844771321 -0.07026643007354
European Stocks US-Stocks Small cap Mid cap Large Cap Value
-0.33042860419 0.28961641751 -0.085841892046745 0.75687761093044 -0.068385602194224
European Stocks US-Stocks Small cap Mid cap Large Cap Value
-0.30964457326 0.28273116765 -0.088689872338933 0.76561477298065 -0.075555155549791
European Stocks US-Stocks Small cap Mid cap Large Cap Value
-0.25994322655 0.22430013347 -0.090579127086126 0.74158259030354 -0.085141245232892
European Stocks US-Stocks Small cap Mid cap Large Cap Value
-0.25243324607 0.20379828 -0.093376001379101 0.73088108853376 -0.063786739038716
European Stocks US-Stocks Small cap Mid cap Large Cap Value
-0.26175941589 0.20912094559 -0.092590492405629 0.72913125181184 -0.063342907856866
European Stocks US-Stocks Small cap Mid cap Large Cap Value
-0.25332446057 0.20421777813 -0.093789280837852 0.73689448891081 -0.066704337970284
European Stocks US-Stocks Small cap Mid cap Large Cap Value

-0.24981280283 0.20067445653 -0.093317955481334 0.73746658010014 -0.067892369925477


European Stocks US-Stocks Small cap Mid cap Large Cap Value
-0.23729924187 0.19354886223 -0.094654928835434 0.73751013858662 -0.069504933207343
European Stocks US-Stocks Small cap Mid cap Large Cap Value
-0.27099529138 0.2337967936 -0.094182080585664 0.73701423099284 -0.058880236395871
European Stocks US-Stocks Small cap Mid cap Large Cap Value
-0.26470682213 0.22874714458 -0.094426047037236 0.73692040121545 -0.060949025532178
European Stocks US-Stocks Small cap Mid cap Large Cap Value

-0.26373198024 0.22042241027 -0.091434401220256 0.73118882409933 -0.063746363033124


European Stocks US-Stocks Small cap Mid cap Large Cap Value
-0.16515168264 0.13842245263 -0.112503498035931 0.74434479412936 -0.051081200499176
European Stocks US-Stocks Small cap Mid cap Large Cap Value
-0.19475996984 0.1776889495 -0.120016713267011 0.72783183200398 -0.047459195710782
European Stocks US-Stocks Small cap Mid cap Large Cap Value

-0.20452706367 0.17892442659 -0.113783340938142 0.71390094609988 -0.043116393907494


European Stocks US-Stocks Small cap Mid cap Large Cap Value
-0.1873079832 0.14731417897 -0.115311200083224 0.66907311246874 -0.072148218922532
European Stocks US-Stocks Small cap Mid cap Large Cap Value

-0.18933925227 0.14176391061 -0.116779433916111 0.66731814214219 -0.070595742975888


European Stocks US-Stocks Small cap Mid cap Large Cap Value

-0.18251070401 0.14824462173 -0.113184105502286 0.66595327780133 -0.071667188794155


European Stocks US-Stocks Small cap Mid cap Large Cap Value

-0.22382813855 0.18148268953 -0.113243180000617 0.67254333255767 -0.049348351284977


European Stocks US-Stocks Small cap Mid cap Large Cap Value

-0.23193071096 0.19002488144 -0.11240444129979 0.67315970059417 -0.048394937389223


European Stocks US-Stocks Small cap Mid cap Large Cap Value

-0.22580617506 0.17492898445 -0.115306895445282 0.67210349994592 -0.052826838707336


European Stocks US-Stocks Small cap Mid cap Large Cap Value

-0.19404480165 0.14926564966 -0.115603789486419 0.65351001683345 -0.057782947155497


European Stocks US-Stocks Small cap Mid cap Large Cap Value

-0.2122285674 0.11858053341 -0.125348753753954 0.64472351013297 -0.08308922391479


European Stocks US-Stocks Small cap Mid cap Large Cap Value

-0.1523612639 0.06106284298 -0.134812324091605 0.65935636787254 -0.08442865845946


European Stocks US-Stocks Small cap Mid cap Large Cap Value

-0.01972605274 -0.0493894019 -0.148481257976385 0.65573117213517 -0.102425321830416


European Stocks US-Stocks Small cap Mid cap Large Cap Value

0.193863365579 -0.22124784821 -0.154503706580801 0.64308681859901 -0.119868092552657


Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB
0.00203361922257 -0.627299201156739 1.78211305474293 -0.909640901929043 -3.22552923135624
Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB
-0.00096888861916 -0.658770247275196 1.79877052540666 -0.887707850905334 -3.22058383322898
Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB
0.002070628356765 -0.682936099459352 1.85133186645626 -0.892697165053953 -3.30684364943393
Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB
-0.00552289864989 -0.602287359215294 1.72682629748075 -0.620570148498723 -3.67055160120518
Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB
0.002570339332131 -0.603468369113055 1.66339487834866 -0.515822843847806 -3.67987571502207
Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB
0.002635878155536 -0.603085412261727 1.66086851448783 -0.515361467534435 -3.67563353461002
Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB
-0.00046902921886 -0.580786198828406 1.66120231814481 -0.511761068403007 -3.65441938342089
Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB
-0.00053913365891 -0.40115282535815 1.68568893573465 -0.800219164168694 -4.08895982992245
Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB
0.00996380235451 -0.203409258822311 1.29144350911116 -0.245674653289869 -4.69169547985794
Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB
-0.02414117747752 -0.063434295815734 1.20826903318485 0.189119808339454 -6.31592866394165
Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB
-0.02411427241863 -0.057253500469172 1.19644384389914 0.221303460318873 -6.25974334391528
Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB
-0.01735733817682 -0.120813465350778 1.3033639852522 0.169295784684457 -6.39402115786364
Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB

-0.0165573066457 -0.09974874063487 1.24350974261807 0.187467091642068 -6.3983004519944


Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB
-0.02107197604235 -0.008593145416591 1.31579221121775 -0.013902821439739 -6.59298919326681
Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB
-0.03801481920832 -0.110402618781906 1.39521803063426 0.032427348751463 -7.02123027991612
Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB
-0.03709163013636 -0.106107018982034 1.38303320161683 0.041675371096202 -7.05361501995527
Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB

-0.03439714882707 -0.054172972193683 1.28072082257693 0.11861941297753 -7.02679742183904


Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB
-0.04152582061999 0.005196941870585 0.545120867074642 0.605577367938149 -5.87226589407038
Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB
-0.05245010155624 -0.175403964090984 1.09799261565312 0.463656359816387 -7.79559035159734
Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB

-0.05224735851198 -0.252964886317568 1.39263211165347 0.314184423174749 -8.04068712362019


Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB
-0.06165269297684 0.028303886159935 1.11280956378926 0.667996071094814 -7.43872490702014
Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB

-0.06070518309117 0.066381980498206 1.03646748860093 0.699126191028551 -7.23017330400628


Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB

-0.0700926494588 0.05669531729912 1.22877735590136 0.173109921418473 -6.46397710721019


Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB

-0.09624320802027 -0.094548587141215 1.74236442287702 -0.136167510626778 -6.98962391417936


Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB

-0.10279610293132 -0.078188135383854 1.72441990030596 -0.174563190781141 -6.90840943326814


Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB

-0.09263551235777 -0.065721243353871 1.54974727246721 0.265312359519376 -7.56942264375529


Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB

-0.11029769835489 0.07446496509838 1.46895416538336 -0.238373726218078 -6.29229294705871


Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB

-0.12849879960879 0.177778582270876 1.16888614456529 -0.388718552471578 -5.94794206611507


Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB

-0.13970841888152 0.166383381461437 1.78575176156647 -1.77204609420396 -4.89085333992428


Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB

-0.13516803830635 0.121666687751862 1.93130585886058 -1.80689314397567 -5.96552969079516


Large Cap Growth Bond_8 Bond_3_8 Bond_1_3 TB

-0.12212498676643 0.226496695646834 1.9420606036169 -1.88460618352951 -5.28997486587547


Intercept
0.016706298518051
Intercept
0.016226169871312
Intercept
0.016831495420439
Intercept
0.016921696556464
Intercept
0.017432569045782
Intercept
0.017399301192746
Intercept
0.016432227244125
Intercept
0.02026311259521
Intercept
0.021325882893746
Intercept
0.025768505228092
Intercept
0.025053539339381
Intercept
0.026494013454189
Intercept

0.02674287383336
Intercept
0.026705475373507
Intercept
0.029697613177795
Intercept
0.030016946486527
Intercept

0.030096350464776
Intercept
0.028917404082546
Intercept
0.039690347171952
Intercept

0.039698510998799
Intercept
0.03215235253589
Intercept

0.03055389989906
Intercept

0.02656565204929
Intercept

0.02914794928212
Intercept

0.028531231329054
Intercept

0.032089197116767
Intercept

0.024031461006352
Intercept

0.022640868978145
Intercept

0.017318738836149
Intercept

0.025951484872992
Intercept

0.021032530576887
Large Cap
TB Bond_1_3 Bond_3_8 Bond_8 Growth
100% 36 D_02 0% 0% 0% 3% 0%
100% 37 J_03 0% 0% 0% 2% 0%
100% 38 F_03 0% 0% 0% 2% 0%
100% 39 M_03 0% 0% 0% 2% 0%
100% 40 A_03 0% 0% 0% 2% 0%
100% 41 M_03 0% 0% 0% 0% 0%
100% 42 J_03 0% 0% 0% 0% 0%
100% 43 J_03 0% 0% 0% 0% 0%
100% 44 A_03 0% 0% 0% 0% 0%
100% 45 S_03 0% 0% 0% 0% 0%
100% 46 O_03 0% 0% 0% 16% 0%
100% 47 N_03 0% 0% 0% 0% 0%
100% 48 D_03 0% 0% 0% 0% 0%
100% 49 J_04 0% 0% 0% 0% 0%
100% 50 F_04 0% 0% 0% 0% 0%
100% 51 M_04 0% 0% 0% 1% 0%
100% 52 A_04 0% 0% 0% 0% 0%
100% 53 M_04 0% 0% 0% 0% 0%
100% 54 J_04 0% 0% 0% 0% 0%
100% 55 J_04 0% 0% 0% 0% 0%
100% 56 A_04 0% 0% 0% 0% 0%
100% 57 S_04 0% 0% 0% 0% 0%
100% 58 O_04 0% 0% 0% 0% 0%
100% 59 N_04 0% 0% 0% 0% 0%
100% 60 D_04 0% 0% 0% 0% 0%
100% 61 J_05 0% 0% 0% 0% 0%
100% 62 F_05 0% 0% 0% 0% 0%
100% 63 M_05 0% 0% 0% 0% 0%
100% 64 A_05 0% 0% 0% 0% 0%
100% 65 M_05 0% 0% 0% 0% 0%
100% 66 J_05 0% 0% 0% 0% 0%
100% mean 0% 0% 0% 1% 0%

100%

90%

80%

70%
100%

90%

80%

70%

60%

50%

40%

30%

20%

10%

0%
2 3 3 3 3 3 3 3 3 3 3 3 3 4 4 4 4 4 4 4 4 4 4 4 4 5 5
_0 J _0 F_0 _0 A_0 _0 J _0 J _0 A_0 S_0 _0 _0 _0 J _0 F _0 _0 A_0 _0 J _0 J _0 A_0 S_0 _0 _0 _0 J _0 F_0
D M M O N D M M O N D M
month

Style Selection
D_02 57.1% 42.9%
J_03 54.3% 45.7%
F_03 59.2% 40.8%
M_03 56.6% 43.4%
A_03 56.1% 43.9%
M_03 55.9% 44.1% 100.0%
J_03 59.3% 40.7%
Style/Selection

J_03 58.4% 41.6% 90.0%


A_03 61.1% 38.9%
S_03 58.9% 41.1% 80.0%

O_03 50.5% 49.5%


70.0%
N_03 53.5% 46.5%
D_03 57.2% 42.8% 60.0%
J_04 64.8% 35.2%
F_04 59.7% 40.3% 50.0%
M_04 59.3% 40.7%
40.0%
A_04 59.4% 40.6%
M_04 61.6% 38.4% 30.0%
J_04 61.5% 38.5%
J_04 61.1% 38.9% 20.0%
A_04 61.7% 38.3%
S_04 61.4% 38.6% 10.0%

O_04 63.7% 36.3%


0.0%
N_04 65.1% 34.9%
0 2 03 03 _03 _03 _03 03 03 0 3 0 3 3 3
_0 N_0 D_0
3
D_04 66.3% 33.7% D_ J_ F_ M A M J_ J_ A_ S_ O
20.0%

10.0%

0.0%
0 2 03 03 _03 _03 _03 03 03 0 3 0 3 3 3
_0 N_0 D_0
3
D_ J_ F_ M A M J_ J_ A_ S_ O

J_05 65.8% 34.2%


F_05 65.9% 34.1%
M_05 65.9% 34.1%
A_05 65.9% 34.1%
M_05 66.4% 33.6%
J_05 66.1% 33.9%

61% 39%
Large Cap European Japanese Index
Value Mid cap Small cap US-Stocks Stocks Stocks returns
0% 66% 0% 0% 0% 31%
0% 66% 0% 0% 0% 32%
0% 66% 0% 0% 0% 32%
0% 66% 0% 0% 0% 32%
0% 66% 0% 0% 0% 32%
0% 68% 0% 0% 0% 32%
0% 68% 0% 0% 0% 32%
0% 67% 0% 0% 0% 33%
0% 67% 0% 0% 0% 33%
0% 68% 0% 0% 0% 32%
0% 76% 0% 8% 0% 0%
0% 70% 0% 0% 0% 30%
0% 72% 0% 0% 0% 28%
0% 71% 0% 0% 0% 29%
0% 71% 0% 0% 0% 29%
0% 71% 0% 0% 0% 28%
0% 71% 0% 0% 0% 29%
0% 72% 0% 0% 0% 28%
0% 72% 0% 0% 0% 28%
0% 71% 0% 0% 0% 29%
0% 70% 0% 0% 0% 29%
0% 70% 0% 0% 0% 29%
0% 70% 0% 0% 0% 29%
0% 71% 0% 0% 0% 29%
0% 70% 0% 0% 0% 30%
0% 70% 0% 0% 0% 30%
0% 70% 0% 0% 0% 30%
0% 70% 0% 0% 0% 30%
0% 70% 0% 0% 0% 30%
0% 70% 0% 0% 0% 30%
0% 70% 0% 0% 0% 30%
0% 70% 0% 0% 0% 29%
Japanese Stocks
European Stocks
US-Stocks
Small cap
Mid cap
Large Cap Value
Large Cap Growth
4 04 04 04 04 04 05 05 05 05 05 05 Bond_8
A_ S_ O _ N_ D_ J _ F_ M_ A_ M_ J _
Bond_3_8
Bond_1_3
TB

Selection
Style

3 03 3 3 3 3 3 04 04 _04 _04 _04 04 04 4 04 _04 _04 _04 05 05 _05 _05 _05 05


_0 J_ A_
0
S_
0 _0 N_0 D_0 J_ F_ A J_ J_ A_
0
S_ N D J_ F_ A J_
O M M O M M
Month
3 03 3 3 3 3 3 04 04 _04 _04 _04 04 04 4 04 _04 _04 _04 05 05 _05 _05 _05 05
_0 J_ A_
0
S_
0 _0 N_0 D_0 J_ F_ A J_ J_ A_
0
S_ N D J_ F_ A J_
O M M O M M
Month
Large Large
Cap Cap
Fund return TB Bond_1_3 Bond_3_8 Bond_8 Growth Value
1 Jan_00 0.00383 0.00753 0.00658 0.01699 0.01708 0.11064 -0.08392
2 Feb_00 0.23993 0.01050 0.01461 0.02571 0.03750 -0.10315 -0.12432
3 Mar_00 -0.12447 0.00626 0.00275 -0.00244 -0.01138 -0.15175 -0.10467
4 Apr_00 -0.24799 0.00926 0.01624 0.02360 0.03207 -0.09190 -0.01164
5 May_00 -0.10829 0.00673 0.00838 -0.00368 -0.01622 0.06651 0.09731
6 Jun_00 0.11931 0.00821 0.00676 -0.00305 0.00497 -0.10929 -0.02008
7 Jul_00 -0.16239 0.00504 -0.00833 -0.01327 -0.02244 0.06487 -0.01810
8 Aug_00 0.11431 0.00639 0.00296 0.00461 -0.00309 -0.11589 -0.10542
9 Sep_00 -0.12149 0.00935 0.00281 0.00748 -0.00365 -0.11208 -0.01398
10 Oct_00 -0.12119 0.01048 0.00498 0.01289 0.00447 0.07855 0.12689
11 Nov_00 -0.01059 0.00823 0.01061 0.01543 0.01559 -0.00962 0.04870
12 Dec_00 -0.10839 0.00850 0.01381 0.02279 0.03490 0.08962 0.12900
13 Jan_01 0.03811 0.01020 0.01499 0.02173 0.03313 -0.01358 0.05340
14 Feb_01 -0.02299 0.00951 0.01718 0.02823 0.03389 -0.16478 -0.14740
15 Mar_01 -0.18899 0.00691 0.00000 -0.00006 0.00088 -0.03554 0.02362
16 Apr_01 -0.07163 0.00737 0.00950 0.00937 0.01629 0.04511 0.07212
17 May_01 0.04167 0.00999 0.01582 0.02265 0.04051 -0.06148 -0.05827
18 Jun_01 -0.08853 0.00926 0.01924 0.02495 0.03050 -0.03641 -0.04410
19 Jul_01 -0.04953 0.00724 0.01635 0.02417 0.00349 -0.01331 -0.03139
20 Aug_01 0.00847 0.00775 0.01565 0.01577 0.01666 -0.14783 -0.09267
21 Sep_01 -0.04963 0.00473 -0.00789 0.00091 0.00564 0.05496 0.05431
22 Oct_01 0.07547 0.00612 0.00660 0.01696 0.03702 0.10691 0.08424
23 Nov_01 0.10257 0.00292 0.00276 0.02393 0.07648 0.02266 -0.05553
24 Dec_01 0.01357 0.00437 0.00067 0.00026 -0.00750 0.01119 0.04766
25 Jan_02 0.00947 0.00755 0.01361 0.02070 0.03488 0.07093 0.25369
26 Feb_02 0.09077 0.00473 0.00632 0.01836 0.02697 -0.00875 0.07819
27 Mar_02 -0.03323 0.00740 0.00772 0.00272 0.01141 -0.04078 0.10278
28 Apr_02 0.05143 0.00343 0.00220 0.00074 -0.00004 -0.06512 0.01644
29 May_02 -0.07597 0.00183 -0.00693 -0.01108 -0.01720 0.02176 0.09688
30 Jun_02 0.04223 0.00701 0.01127 0.01419 0.02440 -0.05399 -0.10457
31 Jul_02 -0.05807 0.00632 0.00885 0.01065 0.02008 0.03405 0.03981
32 Aug_02 0.02253 0.00610 0.00877 0.01345 0.01755 -0.07806 -0.07176

33 Sep_02 -0.06427 0.00572 0.00342 0.00379 0.00463 0.00652 0.02084


34 Oct_02 0.00093 0.00615 0.01022 0.01614 0.02500 0.04966 0.08459
35 Nov_02 0.08623 0.00240 -0.00120 0.00625 0.02620 0.03226 0.09053
36 Dec_02 0.06793 0.00404 0.00000 0.01153 0.02976 -0.03263 0.01006
37 Jan_03 0.00253 0.00187 -0.00647 -0.01145 -0.01523 0.01824 0.02363
38 Feb_03 0.01033 0.00374 0.00202 0.00794 0.00897 -0.08067 -0.07718
39 Mar_03 -0.05607 0.00784 0.01679 0.00574 -0.00220 -0.01774 0.05771
40 Apr_03 0.05623 0.00761 0.01629 0.02506 0.03667 0.15821 0.24185
41 May_03 0.19113 0.00389 0.00924 0.01029 0.01723 0.09418 0.13311
42 Jun_03 0.10143 0.00343 0.01880 0.00698 0.01092 0.03858 0.07859
43 Jul_03 0.04363 0.00463 0.01131 0.01149 0.00970 0.19945 0.20721
44 Aug_03 0.11193 0.00384 0.00482 0.01782 0.02715 -0.01415 0.06453
45 Sep_03 0.08013 0.00558 0.01502 0.01133 0.01376 0.04502 0.08645
46 Oct_03 0.08143 0.00239 0.00105 0.00412 0.00134 0.02602 0.04250
47 Nov_03 0.12473 0.00217 -0.00315 -0.00545 -0.01516 0.16249 0.21347
48 Dec_03 0.20953 0.00617 0.01052 0.00493 0.02070 -0.06526 -0.02626
49 Jan_04 -0.07117 -0.00323 -0.00989 -0.00034 -0.00848 -0.00557 -0.01769
50 Feb_04 -0.08247 0.00864 0.01209 0.00106 -0.00059 -0.04474 0.04927
51 Mar_04 -0.01707 0.00669 0.01054 0.01073 0.02549 0.00053 0.02839
52 Apr_04 0.05243 0.00287 0.00128 0.00213 0.00774 -0.15170 -0.24325
53 May_04 -0.11817 0.00233 -0.00149 -0.00955 -0.03003 -0.04063 0.03875
54 Jun_04 0.02583 0.00640 0.00946 -0.00716 -0.02644 0.03700 0.12012
55 Jul_04 0.02983 0.00152 -0.00815 -0.02519 -0.01002 0.00981 0.00657
56 Aug_04 0.04553 0.00289 0.00103 0.00383 -0.00278 0.07982 0.06975
57 Sep_04 0.05163 0.00199 -0.00441 -0.00277 -0.00303 0.00794 0.01499
58 Oct_04 0.00223 0.00877 -0.00556 -0.01217 -0.03500 0.11320 0.06898
59 Nov_04 0.13823 0.00414 -0.00948 -0.00612 -0.02364 0.07031 0.09155
60 Dec_04 0.07883 0.00253 0.00230 0.01944 0.05324 -0.00992 -0.02937
61 Jan_05 0.00163 0.00442 -0.00094 -0.00630 -0.01927 0.02328 0.04653
62 Feb_05 0.05283 0.00532 0.00909 0.01853 0.02846 -0.04618 -0.02968
63 Mar_05 0.00043 0.00647 0.00942 0.00202 -0.00119 -0.02455 -0.06622
64 Apr_05 -0.00477 0.00445 -0.01241 -0.01366 -0.03740 0.08613 0.07198
65 May_05 0.08033 0.00322 0.00384 0.01090 0.00696 0.05551 0.03484
66 Jun_05 0.00293 0.00517 0.00486 0.01228 0.02488 0.04517 0.07514
Style Vs Selection of Birla Advant
Style

1 12 1

0.9 0.9

10
0.8 0.8

0.7 0.7
8

0.6 0.6

0.5 6 0.5

0.4 0.4

4
0.3 0.3

0.2 0.2
2

0.1 0.1

0 0 0
Month
Month
Style return of Actual
US- European Japanese the style fund
Mid cap Small cap Stocks Stocks Stocks benchmark return
0.03848 0.03673 -0.05090 -0.09548 0.03197 37 Jan_03 -2.35% 0.25%
0.06350 -0.07744 -0.02011 -0.00573 0.02149 38 Feb_03 -0.16% 1.03%
-0.16719 -0.14176 0.09672 0.04935 0.01893 39 Mar_03 -7.64% -5.61%
-0.25296 -0.00367 -0.03080 -0.03254 -0.11622 40 Apr_03 6.02% 5.62%
0.01957 0.02774 -0.02191 0.00504 -0.09131 41 May_03 14.65% 19.11%
0.09343 -0.04696 0.02393 -0.00733 0.06604 42 Jun_03 10.31% 10.14%
-0.10230 0.06952 -0.01634 0.00833 -0.09669 43 Jul_03 6.86% 4.36%
0.02679 -0.07577 0.06070 0.04829 0.07209 44 Aug_03 11.97% 11.19%
-0.06167 -0.05615 -0.05348 -0.05672 -0.06607 45 Sep_03 2.46% 8.01%
-0.03270 0.10784 -0.00495 0.02291 -0.07669 46 Oct_03 7.33% 8.14%
0.08340 0.00199 -0.08007 -0.04601 0.00749 47 Nov_03 8.19% 12.47%
0.02102 -0.03305 0.00405 0.01307 -0.05890 48 Dec_03 16.12% 20.95%
-0.00458 -0.21753 0.03464 0.01205 0.00420 49 Jan_04 -9.59% -7.12%
0.06456 0.26142 -0.09229 -0.06028 -0.06935 50 Feb_04 4.78% -8.25%
-0.29894 -0.24323 -0.06420 -0.04802 0.00902 51 Mar_04 1.25% -1.71%
0.01288 0.10882 0.07681 0.05914 0.07190 52 Apr_04 1.77% 5.24%
0.09003 -0.16463 0.00509 -0.02862 -0.04824 53 May_04 -8.66% -11.82%
-0.11257 0.11621 -0.02504 -0.02650 -0.02210 54 Jun_04 2.46% 2.58%
-0.06853 -0.09619 -0.01074 -0.02010 -0.08546 55 Jul_04 6.21% 2.98%
-0.00154 -0.09043 -0.06411 -0.03330 -0.09673 56 Aug_04 7.04% 4.55%
-0.10332 0.08776 -0.08172 -0.08262 -0.08763 57 Sep_04 3.75% 5.16%
0.07749 0.19011 0.01810 0.02780 0.06053 58 Oct_04 0.72% 0.22%
0.14037 -0.04508 0.07518 0.03252 0.03194 59 Nov_04 8.70% 13.82%
-0.04230 0.00042 0.00757 0.00265 -0.01447 60 Dec_04 13.51% 7.88%
0.04060 0.05825 -0.01557 -0.01008 -0.05168 61 Jan_05 -0.54% 0.16%
0.10900 0.03505 -0.02077 -0.01235 0.05902 62 Feb_05 4.22% 5.28%
0.05502 0.18283 0.03674 0.03348 0.04128 63 Mar_05 2.31% 0.04%
0.09023 0.05175 -0.06142 -0.02014 0.04241 64 Apr_05 -4.26% -0.48%
-0.04869 0.34845 -0.00908 -0.01558 0.02359 65 May_05 7.32% 8.03%
0.08835 -0.15208 -0.07246 -0.08431 -0.09707 66 Jun_05 0.38% 0.29%
-0.14221 -0.02721 -0.07900 -0.08809 -0.07003 3.84% 4.09%
0.02300 -0.06092 0.00488 -0.00445 -0.02618 Mean

-0.07312 -0.03680 -0.11002 -0.11958 -0.02454 SD


-0.02143 0.10555 0.08645 0.08542 -0.07916 Skewness
0.09776 -0.04754 0.05707 0.03211 0.06656 Kurtosis
0.03408 -0.05133 -0.06033 -0.05492 -0.06908 Min
-0.02184 0.01499 -0.02741 -0.09466 -0.02786 Max
-0.00394 -0.12041 -0.01700 0.02472 0.00277
-0.09262 0.06606 0.00836 -0.01157 -0.04667
0.09882 0.22649 0.08104 0.08654 -0.01772
0.18511 0.14035 0.05090 0.03110 0.07573
0.11502 0.01212 0.01132 -0.00417 0.07818
0.07616 0.12772 0.01622 0.03121 0.05286
0.13812 0.04566 0.01787 0.00099 0.08160
0.04226 0.02422 -0.01194 -0.01677 -0.01204
0.09206 0.14254 0.05496 0.04798 0.03332
0.10947 0.20439 0.00713 0.01283 -0.04347
0.20489 -0.12846 0.05077 0.03093 0.05703
-0.13708 -0.08562 0.01728 -0.01925 0.01002
0.05749 -0.07034 0.01221 0.02312 0.02395
-0.00773 0.08251 -0.01636 -0.02371 0.06099
0.02324 -0.15308 -0.01679 0.02371 0.00396
-0.10364 0.00614 0.01208 -0.01314 -0.04467
0.01261 0.09355 0.01799 0.00754 0.05540
0.10430 0.11655 -0.03429 -0.01142 -0.04495
0.10823 0.08217 0.00229 0.01047 -0.02154
0.06316 0.01833 0.00936 0.02500 -0.02330
0.01237 0.14345 0.01401 0.01168 -0.00482
0.11859 0.13430 0.03859 0.01708 0.01187
0.16739 -0.02727 0.03246 0.02362 0.05409
-0.00399 0.07654 -0.02529 0.00789 -0.00881
0.04692 -0.01362 0.01890 0.02395 0.03100
0.03536 0.01056 -0.01912 -0.01491 -0.00610
-0.03665 0.08948 -0.02011 -0.01894 -0.05656
0.09388 0.00147 0.02995 0.03380 0.02432
-0.00608 0.10212 -0.00014 0.03006 0.02726
Vs Selection of Birla Advantage
Style Vs Selection
fund returns
of Birla Advantage fund returns

Colu
mn R

Month
Month Month
Timing
compone
Selection nt=
Compone Std.bench
nt=Fund mark
return- return-

S E le c tio n R e tu r n a c h ie v e d ( % )
Mean Announced std.bench style
Selection Selection benchmarkRet mark benchmar
Return return urn(BSE 200) return k return
2.61% 0.25% -1.84% 2.09% 0.51% 2.61% 0.00%
1.19% 0.25% 2.25% -1.21% 2.40% 1.19% 0.00%
2.04% 0.25% -5.69% 0.08% 1.95% 2.04% 0.00%
-0.39% 0.25% -7.49% 13.11% -13.50% -0.39% 0.00%
4.46% 0.25% 13.90% 5.21% -0.75% 4.46% 0.00% 10.00%
-0.16% 0.25% 7.21% 2.93% -3.09% -0.16% 0.00%
-2.50% 0.25% 1.20% 3.16% -5.66% -2.50% 0.00% 5.00%

-0.78% 0.25% 16.14% -4.95% 4.17% -0.78% 0.00% 0.00%


5.56% 0.25% -2.09% 10.10% -4.55% 5.56% 0.00% 1 2 3 4 5

0.81% 0.25% 3.38% 4.76% -3.95% 0.81% 0.00% -5.00%

4.28% 0.25% 4.86% 7.61% -3.33% 4.28% 0.00%


-10.00%
4.83% 0.25% 13.09% 7.87% -3.03% 4.83% 0.00%
2.47% 0.25% -9.26% 2.15% 0.33% 2.47% 0.00% -15.00%
-13.02% 0.25% -1.68% -6.56% -6.46% -13.02% 0.00%
-2.95% 0.25% -4.90% 3.19% -6.15% -2.95% 0.00%
3.47% 0.25% 4.47% 0.77% 2.70% 3.47% 0.00%
-3.16% 0.25% -16.80% 4.98% -8.14% -3.16% 0.00%
0.13% 0.25% -2.54% 5.12% -4.99% 0.13% 0.00%
-3.22% 0.25% 5.91% -2.93% -0.30% -3.22% 0.00%
-2.48% 0.25% -0.76% 5.31% -7.79% -2.48% 0.00%
1.41% 0.25% 5.53% -0.37% 1.78% 1.41% 0.00%
-0.50% 0.25% 0.37% -0.14% -0.36% -0.50% 0.00%
5.12% 0.25% 2.82% 11.00% -5.87% 5.12% 0.00%
-5.62% 0.25% 4.34% 3.54% -9.16% -5.62% 0.00%
0.70% 0.25% -4.07% 4.23% -3.53% 0.70% 0.00%
1.06% 0.25% 0.02% 5.27% -4.21% 1.06% 0.00%
-2.27% 0.25% -6.72% 6.76% -9.03% -2.27% 0.00%
3.78% 0.25% -7.02% 6.55% -2.77% 3.78% 0.00%
0.71% 0.25% 4.02% 4.02% -3.30% 0.71% 0.00%
-0.09% 0.25% 3.19% -2.89% 2.81% -0.09% 0.00%
0.25% 3.36% -3.11% 0.25%
0.25% t -ratio
Selection Timing
Compone Compone Total
3.78% nt nt Alpha
-1.432642 4.07 -4.03 0.36
3.998724
-13.02%
5.56%
Colu
mn R
S E le c tio n R e tu r n a c h ie v e d ( % )

10.00%
Selec
tion
5.00% Retur
n
Mean
0.00% Selec
1 2 3 4 5 6 7 8 9 101112131415161718192021222324252627282930 tion
retur
-5.00%
n

-10.00%

-15.00% time in months from Jan2003


Birla Tax
Plan '98
Growth
Jan-00 0.0038 Jun-05 0.0311
Feb-00 0.2399 May-05 0.1036
Mar-00 -0.1245 Apr-05 -0.0520
Apr-00 -0.2480 Mar-05 -0.0126
May-00 -0.1083 Feb-05 0.0696
Jun-00 0.1193 Jan-05 -0.0311
Jul-00 -0.1624 Dec-04 0.0975
Aug-00 0.1143 Nov-04 0.0843
Sep-00 -0.1215 Oct-04 0.0237
Oct-00 -0.1212 Sep-04 0.0620
Nov-00 -0.0106 Aug-04 0.0156
Dec-00 -0.1084 Jul-04 0.0661
Jan-01 0.0381 Jun-04 0.0171
Feb-01 -0.0230 May-04 -0.1999
Mar-01 -0.1890 Apr-04 0.0251
Apr-01 -0.0716 Mar-04 -0.0739
May-01 0.0417 Feb-04 -0.0257
Jun-01 -0.0885 Jan-04 -0.0271
Jul-01 -0.0495 Dec-03 0.1291
Aug-01 0.0085 Nov-03 0.0865
Sep-01 -0.0496 Oct-03 0.1185
Oct-01 0.0755 Sep-03 0.0465
Nov-01 0.1026 Aug-03 0.1200
Dec-01 0.0136 Jul-03 0.0544
Jan-02 0.0095 Jun-03 0.0782
Feb-02 0.0908 May-03 0.1104
Mar-02 -0.0332 Apr-03 0.0218
Apr-02 0.0514 Mar-03 -0.0581
May-02 -0.0760 Feb-03 0.0137
Jun-02 0.0422 Jan-03 -0.0580
Jul-02 -0.0581 Dec-02 0.0359
Aug-02 0.0225 Nov-02 0.1174
Sep-02 -0.0643 Oct-02 0.0239
Oct-02 0.0009 Sep-02 -0.0717
Nov-02 0.0862 Aug-02 0.0418
Dec-02 0.0679 Jul-02 -0.1131
Jan-03 0.0025 Jun-02 0.0569
Feb-03 0.0103 May-02 -0.0863
Mar-03 -0.0561 Apr-02 -0.0075
Apr-03 0.0562 Mar-02 -0.0522
May-03 0.1911 Feb-02 0.0736
Jun-03 0.1014 Jan-02 0.0495
Jul-03 0.0436 Dec-01 -0.0087
Aug-03 0.1119 Nov-01 0.0917
Sep-03 0.0801 Oct-01 0.0780
Oct-03 0.0814 Sep-01 -0.1303
Nov-03 0.1247 Aug-01 -0.0151
Dec-03 0.2095 Jul-01 -0.0536
Jan-04 -0.0712 Jun-01 -0.0684
Feb-04 -0.0825 May-01 0.0556
Mar-04 -0.0171 Apr-01 0.0066
Apr-04 0.0524 Mar-01 -0.1857
May-04 -0.1182 Feb-01 -0.0305
Jun-04 0.0258 Jan-01 0.0863
Jul-04 0.0298 Dec-00 -0.0675
Aug-04 0.0455 Nov-00 0.0342
Sep-04 0.0516 Oct-00 -0.0678
Oct-04 0.0022 Sep-00 -0.0483
Nov-04 0.1382 Aug-00 0.0718
Dec-04 0.0788 Jul-00 -0.1324
Jan-05 0.0016 Jun-00 0.0982
Feb-05 0.0528 May-00 -0.1125
Mar-05 0.0004 Apr-00 -0.2898
Apr-05 -0.0048 Mar-00 -0.1344
May-05 0.0803 Feb-00 0.0558
Jun-05 0.0029 Jan-00 0.0446

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