TALLER 2

0) Asumir que se cuenta con US$100.000 para invertir y que el plazo de inversin es de 10 aos
1) Seleccionar 10 acciones norteamericanas (Diferentes para todos los alumnos), tratando de buscar la diversificacin seleccio
Dar cinco razones de escogencia para cada accin (Pueden ser noticias, anlisis fundamental, anlisis tcnico)
2) Conseguir informacin mensual de los ltimos 5 aos para estas acciones y para el S&P500
3) Calcular los Betas y las medidas estadsticas (Media, Varianza, Desviacin Estandar) tanto mensuales como anuales
4) Construir las matrices de participacin, rendimientos, excesos, Var-Covar y Correlaciones
5) Optimizar dos portafolios con Solver (Uno para Maximizar el coficiente de Sharpe y el otro para maximizar la rentabilidad pa
y decir cuanto se invertir en cada accin adems de determinar la media, el valor esperado de la inversin y el riesgo de la m
6) Construir la Frontera Eficiente, mostrando las acciones individuales.
7) Construir en la misma grfica la lnea de CML y determinar la rentabilidad esperada y el riesgo para
una inversin del 30% en el activo cero riesgo y 70% en el portafolio de la frontera eficiente
8) Determinar el Valor en Riesgo del portafolio ptimo con un grado de sensibilidad del 10%
9) Determinar las distribuciones de probabilidad de los precios de estas acciones con Risk Simulator o Crystal Ball
10) Optimizar el portafolio con Risk Simulator o CrystalBall y adjntar los reportes
11) Presentar un reporte con resumen de datos y conclusiones.
IMPORTANTE:
Se debe buscar la tasa libre de riesgo y decir cal y porqu se selecciono
Se recomienda utilizar los precios de cierre ajustados y obtener la informacin de Yahoo Finance

2.97
-9.1
10.75
1.28
1.75
1.53

Netflix, Inc. (NFLX)

Date
Open
High
241.00
Apr-11
238.22
May-11
269.47
Jun-11
262.06
Jul-11
268.54
Aug-11
234.53
Sep-11
115.14
Oct-11
80.11
Nov-11
64.42
Dec-11
70.28
Jan-12
121.41
Feb-12
109.10
Mar-12
114.80
Apr-12
80.29
May-12
60.95
Jun-12
68.77
Jul-12
57.43
Aug-12
58.00
Sep-12
54.60
Oct-12
77.85
Nov-12
81.85
Dec-12
95.21
Jan-13
170.00
Feb-13
187.11
Mar-13
190.95
Apr-13
215.92
May-13
227.05
Jun-13
213.62
Jul-13
246.54
Aug-13
287.43
Sep-13
314.77
Oct-13
328.83
Nov-13
364.88
Dec-13
366.81
Jan-14
411.90
Feb-14
441.19
Mar-14
351.75
Apr-14
324.05
May-14
419.48
Jun-14
456.23
Jul-14
421.76
Aug-14
478.50
Sep-14
448.69
Oct-14

Low
254.98
270.80
277.70
304.79
269.50
238.50
128.50
93.84
77.59
129.48
133.43
123.48
114.80
82.98
70.48
86.65
66.65
61.42
84.95
84.56
97.80
177.25
197.62
197.06
224.30
248.85
235.88
270.31
290.23
320.39
389.16
367.80
383.96
412.40
457.79
458.00
380.88
421.74
450.82
475.87
485.30
489.29
467.99

Close
224.41
225.30
240.12
251.46
203.35
107.63
74.25
62.37
64.00
70.13
106.64
102.53
79.76
62.37
60.70
56.14
52.81
53.05
54.34
74.50
74.50
90.69
162.78
176.16
159.00
204.02
205.75
212.00
241.38
284.55
282.80
325.15
352.00
319.07
397.01
349.88
299.50
314.36
412.50
418.52
412.51
438.88
331.00

232.67
270.80
262.69
265.99
235.01
113.27
82.08
64.53
69.29
120.20
110.73
115.04
80.14
63.44
68.49
56.85
59.72
54.44
79.24
81.71
92.59
165.24
188.08
189.28
216.07
226.25
211.09
244.48
283.91
309.21
322.48
365.80
368.17
409.33
445.63
352.03
322.04
417.83
440.60
422.72
477.64
451.18
392.77

Volume
40,269,600.00
33,897,400.00
28,701,900.00
37,003,900.00
29,051,300.00
83,641,400.00
82,416,000.00
55,323,500.00
41,135,400.00
95,679,800.00
700.00
52,012,100.00
38,360,500.00
44,746,600.00
600.00
38,302,900.00
24,733,400.00
47,874,500.00
500.00
27,416,000.00
34,477,000.00
58,172,500.00
400.00
24,429,200.00
30,815,700.00
48,929,000.00
300.00
41,571,800.00
26,999,800.00
39,982,100.00
200.00
25,554,700.00
21,610,800.00
25,274,600.00
100.00
19,635,800.00
19,969,300.00
37,345,400.00
17,597,300.00 0.00
Apr-11 Sep-1
15,420,200.00
29,716,300.00
17,533,400.00
19,017,400.00
32,010,600.00
26,337,400.00
17,297,500.00
20,166,300.00
13,529,100.00
13,372,300.00
26,247,600.00

Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16

393.23
345.00
344.06
439.90
474.00
417.50
558.99
621.86
663.64
114.60
109.35
102.91
109.20
124.47
109.00
91.79
94.58
3.89

395.52
357.95
457.38
486.50
480.25
576.13
631.44
706.24
716.16
129.29
111.24
115.83
126.60
133.27
122.18
97.48
104.91
111.85

344.00
315.54
316.85
433.69
410.01
409.25
552.26
615.61
97.05
85.50
93.55
96.26
101.86
113.85
90.11
79.95
93.61
88.21

346.59
341.61
441.80
474.91
416.69
556.50
624.06
656.94
114.31
115.03
103.26
108.38
123.33
114.38
91.84
93.41
102.23
90.03

13,857,700.00
12,482,600.00
21,957,000.00
11,641,800.00
15,550,600.00
24,715,600.00
14,637,100.00
22,096,600.00
19,174,000.00
23,174,600.00
24,496,600.00
20,995,100.00
16,692,700.00
14,911,800.00
26,549,400.00
20,043,200.00
14,568,500.00
16,502,900.00

Adj Close
33.24
38.69
1. Netflix es una emresa relaivamente nueva, Su servicio streaming son lo
37.53
demandados del mercado.
38.00
2. La noticia publicada el pasado 23 de junio de 2015, porla revista Fortue
33.57
announces 7-to-1 stock split", en la cual se informa a los inversionista
16.18
Netflix de canjear cada ttulo por 7 nuevas acciones, despus de duplicar
11.73
Este titular me llama la atencion, por cuanto demuestra la capacidad de c
9.22
empresa, por cuanto en este momento adicional a duplicar su valor en bo
9.90
Standard & Poors 500.
17.17
700.00
70.00
15.82
16.43
11.45
600.00
60.00
9.06
9.78
8.12
500.00
50.00
8.53
7.78
11.32
400.00
40.00
11.67
13.23
23.61
300.00
30.00
26.87
27.04
30.87
200.00
20.00
32.32
30.16
34.93
100.00
10.00
40.56
44.17
46.07
0.00
0.00
52.26
Apr-11 Sep-11 Feb-12 Jul-12 Dec-12 May-13 Oct-13 Mar-14 Aug-14 Jan-15 Jun-15 Nov-15 Apr-16
52.60
Open
Volume
58.48
63.66
50.29
3. segn el Beta calculado (1.83), la accion de Netflix presenta una elevad
46.01
cuestion de rendimietos con respecto al ndice Standard & Poors 500, por
59.69
incremento en el indice representara n crecimiento en la rentabilidad de l
62.94
4. La noticia publicada el pasado 6 de enero de 2016, por yahoo Finance "
60.39
su expansin a ms de 130 nuevos pases, entre ellos India y Rus
68.23
da una espectativa acerca del crecimiento sostenido, lo cual afectara posi
64.45
retorno del accionista.
56.11
5. las proyecciones de expansion de Netflix, tuvieron como resultado la al
DreamWorks, con el fin de aumentar sus ofertas de television y de esta m
suscripcion de mas usuarios en el transcurso e 2016.

49.51
48.80
63.11
67.84
59.53
79.50
89.15
93.85
114.31
115.03
103.26
108.38
123.33
114.38
91.84
93.41
102.23
90.03

5. las proyecciones de expansion de Netflix, tuvieron como resultado la al

DreamWorks, con el fin de aumentar sus ofertas de television y de esta m
suscripcion de mas usuarios en el transcurso e 2016.

a, Su servicio streaming son los ms

o de 2015, porla revista Fortue "Netflix

se informa a los inversionistas la desicion de
cciones, despus de duplicar su valor en bolsa.
o demuestra la capacidad de crecimiento de esta
onal a duplicar su valor en bolsa lidero el ndice
70.00

60.00

50.00

40.00

30.00

20.00

10.00

0.00
un-15 Nov-15 Apr-16

de Netflix presenta una elevada Volatilidad en

ce Standard & Poors 500, por ende cualquier
miento en la rentabilidad de la accion.

de 2016, por yahoo Finance "Netflix anuncia

ses, entre ellos India y Rusia", esta noticia me
ostenido, lo cual afectara positivamente el

tuvieron como resultado la alianza con

ertas de television y de esta manera la
o e 2016.

Monster Beverage Corporation (MNST)

Date
Open
High
Low
60.32
66.51
Apr-11
66.26
71.96
May-11
71.60
81.79
Jun-11
81.12
84.00
Jul-11
77.53
90.24
Aug-11
85.36
94.66
Sep-11
86.85
96.94
Oct-11
86.43
97.31
Nov-11
91.38
98.36
Dec-11
93.57
108.70
Jan-12
105.55
111.18
Feb-12
57.25
63.18
Mar-12
62.15
83.96
Apr-12
65.00
74.92
May-12
71.43
79.00
Jun-12
71.94
75.00
Jul-12
66.46
69.10
Aug-12
58.52
58.80
Sep-12
54.29
59.07
Oct-12
44.71
53.19
Nov-12
52.37
57.36
Dec-12
53.70
54.34
Jan-13
48.38
53.88
Feb-13
50.14
51.09
Mar-13
47.74
58.57
Apr-13
55.46
59.34
May-13
54.43
62.94
Jun-13
61.10
64.88
Jul-13
61.42
66.12
Aug-13
58.16
58.74
Sep-13
52.43
59.00
Oct-13
57.55
60.25
Nov-13
61.64
68.33
Dec-13
67.88
70.49
Jan-14
68.11
75.63
Feb-14
73.34
74.55
Mar-14
69.74
71.52
Apr-14
67.06
71.29
May-14
69.28
73.38
Jun-14
70.89
72.00
Jul-14
64.25
94.93
Aug-14
88.80
92.77
Sep-14
91.60
101.38
Oct-14

Close
59.81
61.51
70.64
74.55
68.86
79.00
76.39
84.53
91.01
91.13
52.44
56.25
60.66
63.20
66.37
61.72
52.00
50.20
40.06
39.99
50.81
45.80
45.95
45.38
47.16
50.75
53.57
59.15
56.78
51.85
51.15
54.41
59.16
66.31
66.44
67.72
63.16
63.00
66.27
63.82
64.17
88.20
89.56

66.15
71.65
80.95
76.62
85.32
87.29
89.09
92.20
92.14
104.51
57.18
62.09
65.00
72.60
71.20
66.42
58.94
54.06
44.65
52.05
52.84
47.90
50.46
47.74
56.40
54.59
60.83
60.99
57.39
52.25
57.23
59.18
67.77
67.90
74.00
69.45
66.96
69.38
71.03
63.96
88.41
91.67
100.88

Volume
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###

Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16

100.85
110.97
109.40
116.79
142.18
138.72
137.24
127.82
134.35
154.61
135.79
134.44
135.95
155.55
146.52
137.25
126.09
133.34

113.50
113.49
122.27
143.90
142.99
144.69
144.35
139.65
154.07
155.83
138.98
143.50
158.35
160.50
149.38
138.51
137.63
145.88

98.65
103.18
106.77
114.70
133.92
134.00
126.37
124.18
131.74
115.62
126.51
127.34
130.83
145.54
128.53
113.08
125.26
120.91

112.15
108.35
116.95
141.12
138.40
137.11
127.28
134.02
153.55
138.46
135.14
136.32
154.61
148.96
135.03
125.50
133.38
144.22

###
999,000.00
###
###
###
###
###
###
920,600.00
###
###
###
###
###
###
###
###
###

Adj Close
33.08
35.83
40.47
38.31
42.66
43.65
44.54
46.10
46.07
52.26
57.18
62.09
65.00
72.60
71.20
66.42
58.94
54.06
44.65
52.05
52.84
47.90
50.46
47.74
56.40
54.59
60.83
60.99
57.39
52.25
57.23
59.18
67.77
67.90
74.00
69.45
66.96
69.38
71.03
63.96
88.41
91.67
100.88

1. Monster Beverage Corporation ha revolucionado el mercado de los refre

producto son las bebidas energticas, actualmente tiee aproximadamente
marcas registradas y comercializa sus productos en Australia, Brasil, Canad
y los Estados Unidos, comercilmente es una empresa que ha tenido un crec
hasta posicionarse en la segunda marca mas portante, detras de Red Bull l
de productos, por lo cual puedo determiar que es una empresa con buenas
futuro.

2. Las acciones de Monster cotizaban hace 5 aos a un precio equivalente

teniendo en cuenta el split realizado por la compaa durante este perodo
en la actualidad la compaa cotiza a ms de 144 $ por accin, lo que equi
rentabilidad superior al 118% en slo 5 aos con respecto al precio actual.

PRECIO ACCION MNST

180.00
160.00
140.00
120.00
100.00
80.00
60.00
40.00
20.00
0.00
Nov-10

Dec-11

Jan-13
Close

Mar-14

Apr-15

Adj Close

3. Teniendo en cuenta la informacion de los utimos 5 aos, la accion ha ten

anual de 33,77%, lo cual me indica que es una prespectiva alta en rendimie

4. La noticia publicada el pasado 6 de marzo de 2016, por la pagina

http://www.bebidaslatam.com/ Monster Beverage Corporation adquiere a A
flavors" esta integracion aumenta la proyeccion de la accion, por cuanto se
vinculacion de mas clientes con la produccion de nuesvos productos.

5. segn el Beta calculado (0.48), la accion de Monster Beverage Corporati

baja Volatilidad en cuestion de rendimietos con respecto al ndice Standard
ende cualquier aumento en el indice representara un crecimiento minimo e
de la accion.

112.15
108.35
116.95
141.12
138.40
137.11
127.28
134.02
153.55
138.46
135.14
136.32
154.61
148.96
135.03
125.50
133.38
144.22

cionado el mercado de los refrescos. Su principal

lmente tiee aproximadamente unas 2.500
ctos en Australia, Brasil, Canad, Europa, Mjico
empresa que ha tenido un crecmiento constante
s portante, detras de Red Bull lider en este tipo
ue es una empresa con buenas proyecciones a

5 aos a un precio equivalente a unos 66 $

compaa durante este perodo (Febrero de 2012)
e 144 $ por accin, lo que equivale a una
s con respecto al precio actual.

CCION MNST

Mar-14

Apr-15

May-16

Adj Close

utimos 5 aos, la accion ha tenido una media

na prespectiva alta en rendimientos.

o de 2016, por la pagina

erage Corporation adquiere a American Fruits &
cion de la accion, por cuanto se espera la
on de nuesvos productos.

de Monster Beverage Corporation presenta una

con respecto al ndice Standard & Poors 500, por
entara un crecimiento minimo en la rentabilidad

CVS Health Corporation (CVS)

Date
Open
High
34.25
Apr-11
36.41
May-11
38.64
Jun-11
37.65
Jul-11
36.78
Aug-11
35.85
Sep-11
33.51
Oct-11
35.42
Nov-11
38.66
Dec-11
41.30
Jan-12
41.98
Feb-12
45.07
Mar-12
44.20
Apr-12
44.60
May-12
45.40
Jun-12
46.89
Jul-12
45.55
Aug-12
45.50
Sep-12
48.51
Oct-12
46.47
Nov-12
46.53
Dec-12
49.02
Jan-13
51.63
Feb-13
51.07
Mar-13
54.75
Apr-13
58.97
May-13
57.76
Jun-13
57.72
Jul-13
62.01
Aug-13
58.44
Sep-13
56.76
Oct-13
62.42
Nov-13
67.10
Dec-13
71.16
Jan-14
67.52
Feb-14
72.59
Mar-14
74.56
Apr-14
72.44
May-14
78.36
Jun-14
75.89
Jul-14
76.20
Aug-14
79.47
Sep-14
79.45
Oct-14

Low
36.91
39.50
38.99
38.82
37.16
37.46
37.50
39.40
41.35
43.17
45.36
45.88
45.24
46.22
46.93
48.69
46.00
48.46
49.23
47.78
49.80
52.73
52.77
56.07
58.50
60.70
60.34
62.36
62.22
61.33
62.91
67.64
71.99
71.37
73.62
76.36
76.00
78.49
79.43
79.21
79.82
82.57
87.16

Close
34.21
35.73
36.11
35.97
31.30
33.44
32.28
35.09
36.44
41.01
41.93
43.93
43.08
44.34
43.30
44.34
43.65
45.43
45.59
44.33
45.81
49.00
50.21
50.88
53.94
57.20
55.66
57.32
57.07
56.67
56.32
61.93
65.45
66.07
64.95
72.05
72.37
72.43
74.64
75.42
74.69
79.22
77.40

36.22
38.69
37.58
36.35
35.91
33.59
36.33
38.84
40.78
41.75
45.10
44.80
44.62
44.94
46.73
45.25
45.55
48.42
46.40
46.51
48.35
51.20
51.12
54.99
58.18
57.58
57.18
61.49
58.05
56.75
62.26
66.96
71.57
67.72
73.14
74.86
72.72
78.32
75.37
76.36
79.45
79.59
85.81

Volume
8,645,100.00
9,283,400.00
8,576,900.00
8,170,500.00
12,161,700.00
12,211,800.00
10,858,200.00
11,345,800.00
9,993,000.00
7,641,000.00
8,589,400.00
6,672,800.00
8,132,000.00
8,841,600.00
7,280,400.00
8,893,100.00
7,385,300.00
6,053,800.00
6,228,700.00
7,728,900.00
6,760,500.00
6,313,100.00
5,881,700.00
6,770,600.00
5,907,200.00
5,626,500.00
5,492,200.00
3,738,700.00
5,170,800.00
5,903,000.00
6,468,900.00
5,207,400.00
5,388,600.00
6,032,300.00
6,992,100.00
5,781,600.00
5,979,300.00
4,628,900.00
3,986,900.00
3,279,900.00
3,783,600.00
4,010,800.00
5,655,400.00

Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16

86.03
91.42
96.52
98.34
104.10
102.66
100.93
102.90
105.75
113.17
100.64
96.49
99.45
94.67
96.17
95.89
98.16
103.36

92.00
98.62
101.59
104.52
105.46
104.45
104.93
106.88
113.65
113.58
103.59
106.00
101.08
99.60
97.15
98.79
104.40
105.00

83.61
88.95
93.68
97.06
101.50
99.01
97.87
99.14
103.63
81.37
94.54
95.03
90.10
92.37
92.35
86.50
97.58
99.87

91.36
96.31
98.16
103.87
103.21
99.29
102.38
104.88
112.47
102.40
96.48
98.78
94.09
97.77
96.59
97.17
103.73
100.50

4,064,300.00
4,701,700.00
5,203,200.00
4,890,700.00
4,521,200.00
5,179,700.00
4,301,000.00
4,648,000.00
4,020,000.00
5,821,200.00
5,091,400.00
6,961,100.00
5,869,300.00
5,442,600.00
5,941,300.00
6,126,300.00
4,234,400.00
3,799,200.00

Adj Close
33.64
35.93
34.90
33.87
33.46
31.30
33.97
36.32
38.13
39.19
42.33
42.05
42.04
42.34
44.03
42.78
43.06
45.77
44.02
44.12
45.87
48.78
48.71
52.39
55.65
55.08
54.70
59.04
55.74
54.49
60.01
64.54
68.98
65.53
70.78
72.44
70.63
76.07
73.21
74.44
77.45
77.58
83.93

1. Las acciones de CVS Health Corporation, pagan dividendos anualmente,

puede deducir que genera los fijos de caja suficientes para enregar retorno
accionistas, adiconal a esto este pago aumenta el valor de la accion.

2. Las acciones de CVS Health Corporation, cotizaban hace 5 aos a un pre

unos 33 $, en la actualidad la compaa cotiza a ms de 100 $ por accin,
una rentabilidad superior al 203% en slo 5 aos con respecto al precio act

Chart Title
120.00
100.00
80.00
60.00
40.00
20.00
0.00
Nov-10

Apr-12

Aug-13
Close

Dec-14

May-1

Adj Close

acceso a los principales programas de atencin de farmacia de CVS y servi

clnica, estrategia que busca expandir las lineas de negocio de CVS Health,
esperan mas ingresos y un mantenimiento constante en el precio de la acc
http://www.investopedia.com/articles/markets/050616/target-stock-analyzin
customers-tgt.asp?partner=YahooSA

4. Los beneficios por accin del ao 2014 fueron de US$4.49, a Abril de 201
por accion son de US$4,63

5. CVS Health Corporation acaba de comprar las 1660 farmacias de la tiend

mil millones de dlares, as como la compra de Omnicare, un proveedor de
farmacuticos a hogares de ancianos por casi 13 mil millones de dlares.

89.36
94.20
96.35
101.96
101.31
97.80
100.84
103.30
111.13
101.18
95.33
97.93
93.28
96.93
96.19
96.77
103.30
100.50

pagan dividendos anualmente, por lo cual se

suficientes para enregar retornos a sus
nta el valor de la accion.

cotizaban hace 5 aos a un precio equivalente a

za a ms de 100 $ por accin, lo que equivale a
aos con respecto al precio actual.

art Title

Dec-14

May-16

Sep-17

Adj Close

in de farmacia de CVS y servicios mdicos de la

neas de negocio de CVS Health, con lo que se
constante en el precio de la accion .
ts/050616/target-stock-analyzing-4-key-

eron de US$4.49, a Abril de 2016, los beneficios

r las 1660 farmacias de la tienda Target por $ 1,9

de Omnicare, un proveedor de servicios
si 13 mil millones de dlares.

Biogen Inc. (BIIB)

Date
Open
Apr-11
May-11
Jun-11
Jul-11
Aug-11
Sep-11
Oct-11
Nov-11
Dec-11
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Aug-14
Sep-14
Oct-14

73.59
97.44
94.36
107.35
105.91
94.02
92.55
114.37
114.95
111.44
118.46
116.01
126.11
131.61
128.89
143.50
146.30
145.90
149.16
139.30
150.04
148.72
157.28
165.30
193.66
215.39
234.15
220.25
218.82
216.00
242.85
245.57
291.71
279.44
314.84
340.68
308.42
287.11
318.93
317.03
332.93
345.47
330.97

High

Low
106.99
99.19
109.63
109.14
105.98
102.01
120.66
115.50
117.55
119.56
123.23
127.85
134.50
138.49
144.38
150.29
147.89
157.18
154.91
151.50
155.30
156.94
169.07
192.92
226.18
242.64
234.70
234.74
229.00
248.95
262.00
297.98
298.82
321.25
353.47
358.89
317.00
322.25
322.05
349.00
348.49
347.79
331.15

Close
72.70
92.29
91.08
99.54
83.83
89.04
87.72
106.31
109.05
111.44
114.53
116.01
124.23
129.48
126.39
137.88
141.88
144.90
136.28
134.00
145.04
139.72
155.10
164.45
191.80
208.50
194.66
214.21
203.55
213.05
221.07
230.25
270.27
270.62
294.02
292.67
272.02
278.10
302.01
298.31
317.00
315.71
290.85

97.65
94.73
106.92
101.87
94.20
93.15
116.36
114.95
110.05
117.95
116.47
126.00
134.01
130.75
144.38
145.83
146.59
149.21
138.21
149.09
146.37
156.08
166.34
192.62
218.93
237.49
215.20
218.13
213.02
240.76
244.19
290.97
279.57
312.64
340.68
305.87
287.12
319.37
315.31
334.39
343.04
330.81
321.08

Volume
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
766,400.00
###
###
###
930,000.00
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###

Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16

320.78
306.43
342.84
389.03
410.67
423.20
377.52
398.87
408.32
320.33
292.22
291.99
294.52
289.30
300.34
270.34
261.37
258.83

330.37
361.93
397.00
412.02
480.18
432.88
404.00
420.99
412.24
338.51
330.54
299.41
304.37
311.65
301.02
279.38
274.57
286.32

297.83
306.11
334.40
381.36
406.02
368.88
377.52
378.00
299.76
265.00
267.00
254.00
278.28
274.23
257.66
242.07
242.25
257.50

307.69
339.45
389.16
409.59
422.24
373.93
396.99
403.94
318.78
297.30
291.81
290.51
286.86
306.35
273.06
259.42
260.32
274.99

###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###

Adj Close
97.65
94.73
106.92
101.87
94.20
93.15
116.36
114.95
110.05
117.95
116.47
126.00
134.01
130.75
144.38
145.83
146.59
149.21
138.21
149.09
146.37
156.08
166.34
192.62
218.93
237.49
215.20
218.13
213.02
240.76
244.19
290.97
279.57
312.64
340.68
305.87
287.12
319.37
315.31
334.39
343.04
330.81
321.08

1. Las acciones de Biogen cotizaban hace 5 aos a un precio equivalente a

actualidad la compaa cotiza a ms de 274 $ por accin, lo que equivale a
superior al 182% en slo 5 aos con respecto al precio actual.

Chart Title
450.00
400.00
350.00
300.00
250.00
200.00
150.00
100.00
50.00
0.00
Nov-10

Apr-12

Aug-13
Close

Dec-14

May-16

Adj Close

2. Segn las ultimas noticias "Biotech Stocks Are Down 25% So Far Th
publicada el 6 de mayo de 2016, especulando que la accion se desplom
realizar operaciones en corto.
http://fortune.com/2016/05/06/biotech-stocks-down-25-percent/?xid=yahoo

3. Segn los estados financieros de Biogen, los ingresos netos del ultimo a
de US$3.547.000, con un aumento del 20.86% con respecto al ao anterior

4. Los beneficios por accin actualmente son de US$15,34.

biofarmacutico y servicios de tercerizacin comercial, y Biogen Idec (NASD
firmado un acuerdo por cinco aos para el desarrollo clnico estratgico. La
varios aos est diseada para aprovechar los conocimientos y la experien
organizaciones para optimizar los procesos de desarrollo clnico de Biogen
noticia mi espectativa es esperar a largo plazo la recuperacion de la accion

307.69
339.45
389.16
409.59
422.24
373.93
396.99
403.94
318.78
297.30
291.81
290.51
286.86
306.35
273.06
259.42
260.32
274.99

aos a un precio equivalente a unos 97 $, en la

$ por accin, lo que equivale a una rentabilidad
o al precio actual.

rt Title

Dec-14

May-16

Sep-17

Adj Close

cks Are Down 25% So Far This Year"

lando que la accion se desplome, me permitiria

ks-down-25-percent/?xid=yahoo_fortune

los ingresos netos del ultimo ao (2015) fueron

6% con respecto al ao anterior.

n de US$15,34.
comercial, y Biogen Idec (NASDAQ: BIIB) han
esarrollo clnico estratgico. La colaboracin de
os conocimientos y la experiencia de ambas
de desarrollo clnico de Biogen Idec. con esta
zo la recuperacion de la accion.

Dollar Tree, Inc. (DLTR)

Date
Open
High
Low
55.83
58.50
Apr-11
57.73
64.47
May-11
63.35
67.99
Jun-11
67.02
70.54
Jul-11
66.77
74.72
Aug-11
72.07
79.35
Sep-11
74.57
82.49
Oct-11
79.27
81.60
Nov-11
81.13
84.51
Dec-11
84.40
86.64
Jan-12
85.39
89.98
Feb-12
88.79
96.20
Mar-12
94.58
102.52
Apr-12
101.87
104.08
May-12
102.37
113.63
Jun-12
53.43
54.72
Jul-12
50.38
53.00
Aug-12
48.05
49.57
Sep-12
48.31
48.68
Oct-12
39.84
42.66
Nov-12
41.91
41.99
Dec-12
41.07
41.53
Jan-13
40.25
46.71
Feb-13
45.02
48.61
Mar-13
48.56
48.85
Apr-13
47.64
51.20
May-13
48.50
51.29
Jun-13
50.66
55.00
Jul-13
53.81
55.02
Aug-13
53.14
58.69
Sep-13
57.32
60.19
Oct-13
58.88
60.11
Nov-13
55.63
56.88
Dec-13
55.99
57.41
Jan-14
50.49
56.39
Feb-14
54.45
55.32
Mar-14
51.52
53.15
Apr-14
52.34
54.50
May-14
52.99
57.22
Jun-14
54.41
59.84
Jul-14
54.56
56.65
Aug-14
53.87
57.40
Sep-14
55.83
61.00
Oct-14

Close
55.21
57.64
61.02
64.56
60.00
69.25
72.30
72.08
80.40
81.58
84.75
88.30
93.04
92.70
50.69
49.80
38.40
45.43
38.45
37.12
37.47
37.70
38.43
43.68
45.57
47.57
47.99
50.46
50.33
52.31
57.07
55.15
54.67
49.66
49.59
51.22
50.15
49.69
52.67
53.76
53.17
53.78
53.70

57.50
63.74
66.62
66.23
71.43
75.14
79.96
81.49
83.11
84.80
88.51
94.49
101.66
103.18
53.80
50.34
48.17
48.29
39.87
41.74
40.56
39.99
45.19
48.43
47.56
48.04
50.84
53.65
52.70
57.16
58.40
55.65
56.42
50.52
54.77
52.18
52.07
53.03
54.46
54.47
53.63
56.07
60.57

Volume
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###

Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16

60.84
68.32
70.94
71.22
79.50
81.33
76.37
74.65
79.43
78.05
72.39
66.76
65.65
76.04
76.84
81.21
79.50
82.26

69.50
71.53
72.59
80.85
84.22
84.00
80.22
81.80
82.68
81.17
72.75
68.34
76.00
80.04
81.97
82.76
83.59
83.72

60.21
66.85
65.20
70.28
78.72
76.14
74.51
74.65
76.40
69.63
64.95
60.31
61.33
73.71
73.56
72.52
75.24
77.64

68.36
70.38
71.10
79.68
81.15
76.41
74.99
78.99
78.03
76.26
66.66
65.49
75.46
77.22
81.32
80.25
82.46
79.71

###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###

Adj Close
28.75
31.87
33.31
33.12
35.72
37.57
39.98
40.74
41.56
42.40
44.26
47.24
50.83
51.59
53.80
50.34
48.17
48.29
39.87
41.74
40.56
39.99
45.19
48.43
47.56
48.04
50.84
53.65
52.70
57.16
58.40
55.65
56.42
50.52
54.77
52.18
52.07
53.03
54.46
54.47
53.63
56.07
60.57

1. Las acciones de Dollar Tree, Inc. cotizaban hace 5 aos a un precio equiv
$, en la actualidad la compaa cotiza a ms de 79 $ por accin, lo que equ
rentabilidad superior al 182% en slo 5 aos con respecto al precio actual.

Chart Title
120.00
100.00
80.00
60.00
40.00
20.00
0.00
Nov-10

Apr-12

Aug-13

Dec-14

Close

Adj Close

May-16

Se

2. La cadena de tiendas con descuento Dollar Tree actualmente presenta u

1,20 dlares por accin,

3. segn el Beta calculado (0.28), la accion de Dollar Tree, Inc. presenta un

en cuestion de rendimietos con respecto al ndice Standard & Poors 500, po
aumento en el indice representara un crecimiento minimo en la rentabilida

4. Despus de comprar a la cadena de tiendas Family Dollar en el 2015, Do

expandido a 13.900 tiendas que generarn ms de $20 mil millones en ven
panorama me inclina a realizar la inversio en esta accion.

68.36
70.38
71.10
79.68
81.15
76.41
74.99
78.99
78.03
76.26
66.66
65.49
75.46
77.22
81.32
80.25
82.46
79.71

n hace 5 aos a un precio equivalente a unos 28

s de 79 $ por accin, lo que equivale a una
s con respecto al precio actual.

itle

Dec-14

May-16

Sep-17

Adj Close

ar Tree actualmente presenta un beneficio de

de Dollar Tree, Inc. presenta una baja Volatilidad

ndice Standard & Poors 500, por ende cualquier
miento minimo en la rentabilidad de la accion.

as Family Dollar en el 2015, Dollar Tree se ha

ms de $20 mil millones en ventas anuales, este
n esta accion.

General Motors Company (GM)

Date
Open
High
Low
31.39
33.28
Apr-11
32.41
33.47
May-11
31.70
31.70
Jun-11
30.35
32.08
Jul-11
28.88
28.88
Aug-11
24.09
24.25
Sep-11
20.13
26.55
Oct-11
24.82
25.17
Nov-11
21.24
22.11
Dec-11
20.83
25.50
Jan-12
24.33
27.68
Feb-12
26.19
26.80
Mar-12
26.03
27.03
Apr-12
23.04
23.48
May-12
21.65
23.34
Jun-12
19.70
21.21
Jul-12
19.78
22.14
Aug-12
21.25
25.15
Sep-12
23.00
25.72
Oct-12
25.53
26.27
Nov-12
26.06
28.90
Dec-12
29.41
30.68
Jan-13
28.39
29.36
Feb-13
26.83
29.30
Mar-13
27.65
30.97
Apr-13
30.77
34.91
May-13
34.57
35.49
Jun-13
33.52
37.71
Jul-13
36.39
37.18
Aug-13
34.68
37.97
Sep-13
36.04
37.99
Oct-13
37.17
39.18
Nov-13
39.10
41.85
Dec-13
40.68
41.06
Jan-14
36.27
37.13
Feb-14
35.70
38.05
Mar-14
34.50
35.70
Apr-14
34.67
35.43
May-14
34.54
37.18
Jun-14
36.25
38.15
Jul-14
33.79
35.00
Aug-14
34.88
35.14
Sep-14
31.97
34.24
Oct-14

Close
29.17
30.50
28.17
27.31
21.18
19.77
19.05
20.06
19.00
20.75
24.07
24.38
22.80
21.09
19.24
18.72
18.93
21.02
22.67
23.39
24.40
26.62
26.19
26.75
27.11
30.11
31.13
33.41
33.50
33.96
33.92
35.91
37.68
35.88
34.36
33.57
31.70
32.96
34.29
33.78
32.80
31.67
28.82

32.09
31.81
30.36
27.68
24.03
20.18
25.85
21.29
20.27
24.02
26.02
25.65
23.00
22.20
19.72
19.71
21.35
22.75
25.50
25.88
28.83
28.09
27.15
27.82
30.84
33.89
33.31
35.87
34.08
35.97
36.95
38.73
40.87
36.08
36.20
34.42
34.48
34.58
36.30
33.82
34.80
31.94
31.40

Volume
15,919,200.00
14,192,000.00
17,108,300.00
11,583,300.00
19,852,300.00
12,183,100.00
13,708,700.00
13,773,200.00
10,144,100.00
12,789,300.00
13,708,000.00
8,242,900.00
10,668,900.00
9,841,500.00
9,630,800.00
8,009,200.00
8,200,700.00
9,602,900.00
10,842,000.00
8,352,600.00
11,844,400.00
12,355,000.00
10,630,700.00
11,177,300.00
12,143,500.00
12,847,500.00
20,533,200.00
12,857,200.00
11,750,000.00
18,450,200.00
19,282,900.00
22,058,900.00
26,619,300.00
27,042,000.00
32,867,900.00
25,479,300.00
24,202,900.00
13,250,300.00
16,510,900.00
14,495,800.00
9,945,000.00
13,680,000.00
20,150,300.00

Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16

31.35
33.31
35.27
32.67
37.31
37.27
35.17
36.06
33.61
31.79
29.18
30.29
34.88
35.95
33.45
29.46
30.02
31.18

33.54
35.45
36.45
38.18
38.99
37.45
36.58
36.54
33.61
32.25
31.81
36.06
36.88
36.52
33.54
30.25
32.38
33.41

30.56
30.30
32.36
32.44
36.73
34.93
34.51
33.06
29.89
24.62
28.38
29.98
34.19
33.54
28.32
26.69
28.92
29.18

33.43
34.91
32.62
37.31
37.50
35.06
35.97
33.33
31.51
29.44
30.02
34.91
36.20
34.01
29.64
29.44
31.43
31.80

10,667,700.00
14,062,100.00
17,098,600.00
17,694,700.00
13,784,100.00
19,669,100.00
13,191,400.00
14,313,500.00
19,741,300.00
19,257,700.00
17,882,600.00
15,184,100.00
11,301,400.00
11,149,600.00
20,542,800.00
16,895,200.00
12,707,200.00
12,461,700.00

Adj Close
29.38
29.12
27.79
25.34
22.00
18.47
23.66
19.49
18.56
21.99
23.82
23.48
21.05
20.32
18.05
18.04
19.54
20.83
23.34
23.69
26.39
25.71
24.85
25.47
28.23
31.02
30.49
32.84
31.20
32.93
33.82
35.45
37.41
33.03
33.14
31.79
31.84
31.94
33.80
31.49
32.41
30.00
29.50

1. segn el Beta calculado (1.68), la accion de General Motors Company pr

elevada Volatilidad en cuestion de rendimietos con respecto al ndice Stand
por ende cualquier incremento en el indice representara un crecimiento en
la accion.

2. Los beneficios por accin actualmente son de US$5,91.

3. segn la informacion financiera, General Motors Company obtuvo ingres

de US$9.687.000 al 31 de diciembre de 2015, lo cual representa un aumen
respecto al ao 2014, cierre en el cual reporto ingresos netos por US$2.804

4. Las acciones de General Motors Company, pagan dividendos trimestralm

se puede deducir que genera los igresos suficientes para cumplir con este
sus accionistas.

5. En el mes de enero se dio a conocer la alianza entre General Motors con

que compite con Uber en grandes ciudades como Nueva York y San Francis
de taxi alternativo. El gigante de Detroit le inyecta 500 millones de dlares
desarrollo de una red de coches autnomos. con esta alianza se espera que
GM, inicie un ascenso de la mano al aumento de sus utilidades a mediano p

31.40
33.09
30.92
35.36
35.83
33.50
34.37
32.18
30.42
28.42
29.34
34.12
35.38
33.59
29.27
29.08
31.43
31.80

de General Motors Company presenta una

tos con respecto al ndice Standard & Poors 500,
representara un crecimiento en la rentabilidad de

n de US$5,91.

Motors Company obtuvo ingresos netos por valor

5, lo cual representa un aumento del 245% con
to ingresos netos por US$2.804.000

, pagan dividendos trimestralmente, por lo cual

ficientes para cumplir con este tipo de pagos a

anza entre General Motors con la compaa Lyft,

como Nueva York y San Francisco con su servicio
nyecta 500 millones de dlares y trabajarn en el
con esta alianza se espera que la accionn de
o de sus utilidades a mediano plazo.

Southwest Airlines Co. (LUV)

Date
Open
High
12.74
Apr-11
11.89
May-11
11.81
Jun-11
11.44
Jul-11
10.06
Aug-11
8.60
Sep-11
8.02
Oct-11
8.32
Nov-11
8.30
Dec-11
8.72
Jan-12
9.70
Feb-12
9.02
Mar-12
8.22
Apr-12
8.25
May-12
8.90
Jun-12
9.30
Jul-12
9.19
Aug-12
8.93
Sep-12
8.78
Oct-12
8.82
Nov-12
9.58
Dec-12
10.45
Jan-13
11.29
Feb-13
11.66
Mar-13
13.47
Apr-13
13.71
May-13
14.18
Jun-13
12.96
Jul-13
13.91
Aug-13
12.97
Sep-13
14.58
Oct-13
17.26
Nov-13
18.62
Dec-13
18.85
Jan-14
20.98
Feb-14
22.15
Mar-14
23.73
Apr-14
24.17
May-14
26.48
Jun-14
27.18
Jul-14
28.21
Aug-14
32.08
Sep-14
32.97
Oct-14

Low
12.87
12.44
11.92
11.65
10.17
8.98
9.28
8.63
8.71
9.78
10.05
9.11
8.50
9.14
9.42
9.82
9.53
9.32
9.17
9.58
10.61
11.62
11.90
13.58
13.77
14.56
14.28
14.02
14.24
14.82
17.34
18.98
19.00
22.10
22.63
24.17
24.45
26.64
27.70
29.70
32.43
35.49
35.35

Close
11.30
11.37
10.68
9.61
7.81
7.79
7.15
7.37
8.12
8.22
8.67
8.03
7.76
8.00
8.58
8.45
8.81
8.75
8.68
8.70
9.42
10.36
11.15
11.66
12.45
13.40
12.79
12.58
12.64
12.73
14.48
17.20
17.73
18.78
20.23
21.82
22.35
23.85
25.47
25.86
27.42
32.03
28.40

11.75
11.83
11.42
9.96
8.62
8.04
8.55
8.38
8.56
9.58
8.98
8.24
8.28
9.03
9.22
9.19
8.94
8.77
8.82
9.53
10.24
11.21
11.70
13.48
13.70
14.17
12.89
13.83
12.81
14.56
17.22
18.59
18.84
20.95
22.44
23.61
24.17
26.45
26.86
28.28
32.01
33.77
34.48

Volume
10,097,000.00
10,884,000.00
9,016,200.00
7,529,800.00
14,623,300.00
11,696,000.00
10,352,200.00
9,815,000.00
6,909,200.00
6,463,100.00
5,414,900.00
8,498,600.00
9,419,600.00
10,193,500.00
11,358,500.00
10,033,200.00
7,835,200.00
6,660,700.00
6,724,300.00
6,690,600.00
7,010,000.00
9,413,200.00
7,110,900.00
7,639,900.00
7,518,600.00
8,328,900.00
7,918,900.00
5,624,900.00
5,584,300.00
6,530,400.00
6,886,900.00
7,714,100.00
5,988,000.00
9,768,800.00
8,497,600.00
7,269,800.00
6,976,700.00
5,364,200.00
6,905,400.00
6,702,500.00
5,046,000.00
7,480,900.00
12,404,200.00

Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16

34.55
42.24
42.69
44.94
43.24
44.07
40.83
37.11
33.86
36.66
36.17
37.82
46.47
46.00
41.70
37.62
42.22
44.40

42.42
43.19
47.17
45.49
46.50
44.19
43.45
38.30
38.70
40.87
40.00
46.95
47.76
51.34
43.50
42.86
45.39
48.00

34.47
38.73
38.26
42.19
42.21
40.10
35.54
33.02
31.36
32.94
36.00
37.00
44.68
42.66
35.51
33.96
39.99
43.09

41.82 8,356,200.00
42.32 9,032,200.00
45.18 9,954,400.00
43.24 8,180,200.00
44.30 6,265,000.00
40.56 7,016,700.00
37.05 9,778,300.00
33.09 11,307,300.00
36.20 9,115,700.00
36.70 9,278,800.00
38.04 7,032,400.00
46.29 7,808,400.00
45.88 5,240,000.00
43.06 6,487,700.00
37.62 8,610,300.00
41.95 7,698,200.00
44.80 6,293,800.00
44.61 6,970,600.00

Adj Close
11.40
11.48
11.09
9.67
8.37
7.81
8.30
8.14
8.32
9.31
8.73
8.01
8.05
8.78
8.98
8.95
8.71
8.55
8.60
9.29
9.99
10.94
11.42
13.16
13.38
13.84
12.62
13.54
12.58
14.30
16.91
18.26
18.54
20.62
22.08
23.28
23.83
26.08
26.54
27.94
31.69
33.44
34.14

1. Las acciones de Southwest Airlines Co. , pagan dividendos trimestralmen

puede deducir que genera los fijos de caja suficientes para enregar retorno
accionistas, adiconal a esto este pago aumenta el valor de la accion.

2. Las acciones de Southwest Airlines Co, cotizaban hace 5 aos a un preci

unos 11 $, en la actualidad la compaa cotiza a ms de 44 $ por accin, lo
una rentabilidad superior al 300% en slo 5 aos con respecto al precio act
3. La posicion en el mercado de Southwest Airlines Co. es la mayor aerolne

4. segn la informacion financiera, Southwest Airlines Co. obtuvo ingresos n

US$2.181.000 al 31 de diciembre de 2015, lo cual representa un aumento d
respecto al ao 2014, cierre en el cual reporto ingresos netos por US$1.136
ganancias proyectadas para el 2016: 15.0%

5. Los beneficios por accin actualmente son de US$3,27.

41.41
41.96
44.80
42.87
43.98
40.27
36.78
32.92
36.01
36.58
37.91
46.14
45.73
42.98
37.55
41.88
44.80
44.61

pagan dividendos trimestralmente, por lo cual se

suficientes para enregar retornos a sus
nta el valor de la accion.

tizaban hace 5 aos a un precio equivalente a

za a ms de 44 $ por accin, lo que equivale a
aos con respecto al precio actual.
Airlines Co. es la mayor aerolnea nacional de Estados Unidos

st Airlines Co. obtuvo ingresos netos por valor de

o cual representa un aumento del 92% con
to ingresos netos por US$1.136.000, las

n de US$3,27.

Amazon.com, Inc. (AMZN)

Date
Open
High
181.58
Apr-11
196.57
May-11
196.06
Jun-11
205.55
Jul-11
225.00
Aug-11
215.28
Sep-11
217.01
Oct-11
208.11
Nov-11
191.85
Dec-11
175.89
Jan-12
173.81
Feb-12
179.89
Mar-12
198.02
Apr-12
229.40
May-12
208.44
Jun-12
229.30
Jul-12
234.14
Aug-12
248.27
Sep-12
255.40
Oct-12
234.23
Nov-12
252.54
Dec-12
256.08
Jan-13
268.93
Feb-13
263.27
Mar-13
266.98
Apr-13
253.90
May-13
268.96
Jun-13
279.00
Jul-13
303.08
Aug-13
284.73
Sep-13
314.22
Oct-13
365.63
Nov-13
399.00
Dec-13
398.80
Jan-14
358.98
Feb-14
358.74
Mar-14
338.09
Apr-14
304.13
May-14
312.59
Jun-14
325.86
Jul-14
313.69
Aug-14
339.98
Sep-14
322.04
Oct-14

Low
197.80
206.39
206.25
227.20
227.45
244.00
246.71
222.35
199.66
196.50
193.57
209.85
233.84
232.97
228.35
240.74
250.00
264.11
261.90
252.65
263.11
284.72
274.30
277.40
275.80
271.91
283.34
313.62
306.21
320.57
368.40
394.10
405.63
408.06
365.87
383.11
348.30
314.87
340.72
364.85
346.67
349.38
325.16

Close
175.37
190.88
181.59
203.61
177.10
204.47
196.51
181.51
166.97
173.50
172.00
176.58
183.65
207.11
206.37
212.61
228.66
244.66
222.92
218.18
242.75
253.26
255.11
252.07
248.56
245.75
262.95
277.16
279.33
284.17
296.50
341.88
379.50
357.76
337.73
330.88
288.00
284.38
303.84
311.86
304.59
317.64
284.00

195.81
196.69
204.49
222.52
215.23
216.23
213.51
192.29
173.10
194.44
179.69
202.51
231.90
212.91
228.35
233.30
248.27
254.32
232.89
252.05
250.87
265.50
264.27
266.49
253.81
269.20
277.69
301.22
280.98
312.64
364.03
393.62
398.79
358.69
362.10
336.37
304.13
312.55
324.78
312.99
339.04
322.44
305.46

Volume
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###

Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16

306.24
338.12
312.58
350.05
380.85
372.10
423.82
430.40
439.35
537.45
499.14
511.00
627.13
673.75
656.29
578.15
556.29
590.49

341.26
340.64
359.50
389.37
388.42
452.65
439.00
447.04
580.57
542.74
549.78
630.72
682.77
696.44
657.72
581.80
603.24
669.98

292.29
293.03
285.25
350.01
365.65
368.34
414.55
419.14
425.57
451.00
490.50
506.00
620.41
635.27
547.18
474.00
538.58
585.25

338.64
310.35
354.53
380.16
372.10
421.78
429.23
434.09
536.15
512.89
511.89
625.90
664.80
675.89
587.00
552.52
593.64
659.59

###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###
###

Adj Close
195.81
196.69
204.49
222.52
215.23
216.23
213.51
192.29
173.10
194.44
179.69
202.51
231.90
212.91
228.35
233.30
248.27
254.32
232.89
252.05
250.87
265.50
264.27
266.49
253.81
269.20
277.69
301.22
280.98
312.64
364.03
393.62
398.79
358.69
362.10
336.37
304.13
312.55
324.78
312.99
339.04
322.44
305.46

1. Las acciones de Amazon.com, Inc. cotizaban hace 5 aos a un precio eq

195 $, en la actualidad la compaa cotiza a ms de 659 $ por accin, lo qu
rentabilidad superior al 238% en slo 5 aos con respecto al precio actual.

Chart Title
800.00
700.00
600.00
500.00
400.00
300.00
200.00
100.00
0.00
Nov-10

Apr-12

Aug-13
Close

Dec-14

May

Adj Close

2. Los beneficios por accin actualmente son de US$1,25.

3. Segun noticia publicada el pasado 29 de abril de 2016, "Ganancia de A

ampliamente pronsticos por ingresos de servicios en nube" Las ga
ingresos trimestrales de Amazon.com Inc superaron las expectativas de an
amplio margen gracias a que su programa de fidelizacin Prime ayud a at
y a un fuerte crecimiento de las ventas de sus servicios de computacin en
empresas.

338.64
310.35
354.53
380.16
372.10
421.78
429.23
434.09
536.15
512.89
511.89
625.90
664.80
675.89
587.00
552.52
593.64
659.59

ban hace 5 aos a un precio equivalente a unos

ms de 659 $ por accin, lo que equivale a una
s con respecto al precio actual.

art Title

Dec-14

May-16

Sep-17

Adj Close

n de US$1,25.

abril de 2016, "Ganancia de Amazon supera

de servicios en nube" Las ganancias y los
peraron las expectativas de analistas por un
e fidelizacin Prime ayud a atraer ms clientes
us servicios de computacin en nube para

General Dynamics Corporation (GD)

Date
Open
High
Low
76.83
78.00
Apr-11
73.15
75.29
May-11
73.83
74.98
Jun-11
74.44
75.93
Jul-11
68.45
68.45
Aug-11
64.08
64.66
Sep-11
56.85
66.42
Oct-11
62.79
66.38
Nov-11
66.07
67.36
Dec-11
67.97
72.89
Jan-12
69.82
73.67
Feb-12
72.76
74.15
Mar-12
73.39
74.54
Apr-12
67.57
68.68
May-12
63.14
65.96
Jun-12
66.09
66.59
Jul-12
63.70
66.58
Aug-12
65.55
67.29
Sep-12
66.03
68.75
Oct-12
68.29
69.95
Nov-12
66.78
70.59
Dec-12
70.67
72.01
Jan-13
66.46
69.04
Feb-13
67.54
70.80
Mar-13
70.14
74.09
Apr-13
73.68
78.76
May-13
77.23
79.48
Jun-13
78.06
86.60
Jul-13
85.80
87.85
Aug-13
84.32
89.94
Sep-13
87.45
88.98
Oct-13
86.85
92.75
Nov-13
91.40
95.76
Dec-13
94.85
102.18
Jan-14
101.00
110.25
Feb-14
108.06
113.57
Mar-14
109.16
112.10
Apr-14
109.51
118.22
May-14
118.11
121.68
Jun-14
115.17
122.17
Jul-14
116.42
124.89
Aug-14
123.35
130.17
Sep-14
126.17
140.78
Oct-14

Close
70.47
69.83
69.20
66.56
57.39
53.95
54.72
60.60
62.31
66.76
69.10
70.69
66.44
62.77
61.54
61.30
61.09
64.29
65.03
61.70
65.29
66.13
64.47
66.47
65.37
73.67
75.63
77.40
82.23
83.76
83.61
86.36
88.85
93.85
97.58
105.50
104.22
109.18
116.16
114.04
114.10
122.54
114.73

72.82
74.22
74.52
68.14
64.08
56.89
64.19
66.06
66.41
69.16
73.23
73.38
67.50
64.01
65.96
63.44
65.51
66.12
68.08
66.50
69.27
66.30
67.97
70.51
73.96
77.10
78.33
85.34
83.25
87.52
86.63
91.66
95.55
101.31
109.54
108.92
109.45
118.12
116.55
116.77
123.25
127.09
139.76

Volume
2,541,500.00
2,438,100.00
2,116,300.00
2,153,200.00
3,276,000.00
2,697,400.00
2,283,300.00
2,324,500.00
1,481,200.00
2,265,900.00
1,666,900.00
1,389,000.00
1,844,300.00
1,866,000.00
1,720,700.00
1,850,600.00
1,534,500.00
1,813,200.00
1,447,700.00
1,944,000.00
1,673,300.00
2,876,800.00
3,158,600.00
2,029,900.00
2,802,700.00
1,815,700.00
2,021,500.00
2,176,300.00
1,372,500.00
1,335,600.00
1,537,300.00
1,360,000.00
1,210,300.00
2,459,800.00
2,905,600.00
2,462,100.00
1,951,800.00
2,051,000.00
1,523,700.00
1,522,200.00
1,346,700.00
1,537,400.00
2,341,900.00

Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16

139.76
145.00
138.47
133.89
138.78
135.07
137.82
140.35
142.43
149.13
139.94
138.00
149.24
147.23
135.62
132.30
136.97
130.38

146.13
145.65
142.41
142.55
140.62
140.19
141.96
147.03
153.40
153.76
145.85
152.51
149.38
148.40
137.35
138.53
138.37
144.15

138.72
135.05
132.63
132.50
131.33
130.91
137.06
137.58
141.45
132.02
134.10
135.77
140.18
136.08
121.61
125.74
127.74
129.55

145.36
137.62
133.21
138.78
135.73
137.32
140.16
141.69
149.11
142.03
137.95
148.58
146.46
137.36
133.77
136.27
131.37
140.52

1,601,100.00
1,967,900.00
2,132,000.00
1,313,000.00
1,760,900.00
1,422,600.00
1,368,500.00
1,468,900.00
1,686,000.00
1,410,000.00
1,523,900.00
1,377,600.00
1,496,500.00
1,469,500.00
2,349,200.00
2,004,000.00
1,805,600.00
1,548,800.00

Adj Close
64.20
65.43
66.12
60.46
56.86
50.48
57.43
59.10
59.41
62.28
65.95
66.08
61.24
58.07
59.84
58.00
59.89
60.45
62.72
61.26
64.30
61.54
63.09
65.45
69.21
72.15
73.30
80.43
78.46
82.48
82.19
86.96
90.65
96.68
104.53
103.94
105.06
113.38
111.87
112.68
118.94
122.64
135.57

141.00
133.49
129.80
135.22
132.25
134.49
137.27
139.45
146.75
139.78
135.77
146.95
144.85
135.85
132.99
135.48
130.61
140.52

Advance Auto Parts Inc. (AAP)

Date
Open
High
65.98
Apr-11
65.29
May-11
62.14
Jun-11
58.44
Jul-11
55.44
Aug-11
60.80
Sep-11
57.84
Oct-11
63.51
Nov-11
68.94
Dec-11
71.14
Jan-12
77.08
Feb-12
85.73
Mar-12
88.75
Apr-12
91.26
May-12
71.51
Jun-12
68.40
Jul-12
70.49
Aug-12
71.12
Sep-12
68.53
Oct-12
70.64
Nov-12
73.51
Dec-12
73.49
Jan-13
73.80
Feb-13
76.37
Mar-13
82.54
Apr-13
83.85
May-13
81.54
Jun-13
81.72
Jul-13
83.17
Aug-13
81.35
Sep-13
82.70
Oct-13
98.26
Nov-13
101.35
Dec-13
110.36
Jan-14
115.44
Feb-14
125.92
Mar-14
126.96
Apr-14
124.07
May-14
124.22
Jun-14
135.86
Jul-14
121.32
Aug-14
137.14
Sep-14
129.89
Oct-14

Low
68.85
72.32
62.14
60.00
61.25
63.59
66.93
71.00
71.69
77.07
87.49
91.05
93.08
92.52
74.87
74.39
73.06
72.13
71.12
84.00
75.44
76.71
81.44
83.07
84.01
88.74
84.96
84.16
84.93
82.82
102.82
102.84
111.94
120.31
129.10
129.99
128.49
128.45
136.12
135.95
138.06
139.58
147.25

Close
63.33
61.35
56.58
54.15
49.50
57.83
55.61
63.02
66.71
68.79
75.69
85.25
87.89
66.03
60.87
66.97
66.31
66.91
64.36
70.08
70.02
71.48
72.14
75.62
77.98
81.51
79.47
81.03
79.33
78.91
80.28
96.58
100.94
109.29
109.58
122.07
115.76
118.51
123.20
121.03
119.71
128.20
129.08

65.46
62.10
58.49
54.97
60.72
58.10
65.07
69.22
69.63
76.64
85.37
88.57
91.80
72.94
68.22
70.15
71.12
68.44
70.94
73.15
72.35
73.52
76.34
82.65
83.88
81.52
81.17
82.49
80.07
82.68
99.18
101.01
110.68
114.81
127.36
126.50
121.29
124.17
134.92
121.11
136.42
130.30
146.96

Volume
924,800.00
1,671,900.00
1,567,000.00
1,374,200.00
1,735,800.00
974,400.00
723,600.00
991,100.00
730,700.00
775,100.00
1,492,600.00
974,600.00
828,200.00
1,750,000.00
1,569,900.00
1,299,800.00
1,174,400.00
1,081,000.00
870,500.00
1,485,200.00
723,700.00
703,000.00
1,234,800.00
1,019,400.00
945,600.00
625,100.00
673,400.00
573,700.00
757,400.00
624,800.00
1,110,200.00
664,100.00
906,700.00
807,100.00
1,227,200.00
796,000.00
739,800.00
885,900.00
861,400.00
676,800.00
792,900.00
637,800.00
883,400.00

Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16

148.16
146.41
160.85
159.00
154.71
147.78
143.09
154.28
160.59
174.93
172.53
190.28
199.14
162.99
149.25
151.70
149.92
160.41

149.84
163.36
163.46
165.00
156.60
154.66
161.55
165.16
175.00
192.27
192.50
199.39
201.24
164.25
154.48
156.34
165.99
164.14

137.17
146.13
147.20
148.50
145.10
142.90
142.63
152.20
159.12
151.30
169.40
185.16
159.69
144.73
137.66
131.59
149.17
153.50

147.08
159.28
159.00
154.93
149.69
143.00
153.22
159.29
174.21
175.25
189.53
198.43
162.73
150.51
152.05
148.44
160.34
156.10

953,700.00
776,800.00
852,900.00
1,193,100.00
916,400.00
1,063,500.00
1,204,400.00
748,500.00
1,396,800.00
1,356,900.00
1,071,000.00
791,800.00
1,374,200.00
1,431,600.00
1,181,200.00
1,251,100.00
756,000.00
630,400.00

Adj Close
64.64
61.32
57.82
54.34
60.02
57.49
64.39
68.49
68.96
75.90
84.55
87.77
90.98
72.28
67.67
69.58
70.54
67.94
70.43
72.62
71.89
73.05
75.85
82.18
83.40
81.06
80.77
82.08
79.67
82.33
98.76
100.58
110.27
114.39
126.89
126.10
120.90
123.77
134.55
120.78
136.05
130.00
146.63

146.75
158.98
158.70
154.64
149.47
142.79
152.99
159.11
174.02
175.05
189.38
198.28
162.60
150.45
151.99
148.38
160.34
156.10

S&P 500 (^GSPC)

Date
Open
High
Low
Close
Volume
1,329.48
1,364.56
1,294.70
1,363.61 4,042,194,000.00
Apr-11
1,365.21
1,370.58
1,311.80
1,345.20 4,114,534,200.00
May-11
1,345.20
1,345.20
1,258.07
1,320.64 4,105,601,300.00
Jun-11
1,320.64
1,356.48
1,282.86
1,292.28 4,308,168,000.00
Jul-11
1,292.59
1,307.38
1,101.54
1,218.89 4,942,913,400.00
Aug-11
1,219.12
1,229.29
1,114.22
1,131.42 5,104,933,800.00
Sep-11
1,131.21
1,292.66
1,074.77
1,253.30 4,874,946,600.00
Oct-11
1,251.00
1,277.55
1,158.66
1,246.96 4,289,379,000.00
Nov-11
1,246.91
1,269.37
1,202.37
1,257.60 3,667,346,600.00
Dec-11
1,258.86
1,333.47
1,258.86
1,312.41 4,190,155,500.00
Jan-12
1,312.45
1,378.04
1,312.45
1,365.68 4,143,404,000.00
Feb-12
1,365.90
1,419.15
1,340.03
1,408.47 3,980,752,200.00
Mar-12
1,408.47
1,422.38
1,357.38
1,397.91 3,916,786,000.00
Apr-12
1,397.86
1,415.32
1,291.98
1,310.33 4,158,095,900.00
May-12
1,309.87
1,363.46
1,266.74
1,362.16 4,103,472,300.00
Jun-12
1,362.33
1,391.74
1,325.41
1,379.32 3,663,113,300.00
Jul-12
1,379.32
1,426.68
1,354.65
1,406.58 3,183,567,800.00
Aug-12
1,406.54
1,474.51
1,396.56
1,440.67 3,857,553,100.00
Sep-12
1,440.90
1,470.96
1,403.28
1,412.16 3,587,115,700.00
Oct-12
1,412.20
1,434.27
1,343.35
1,416.18 3,593,110,000.00
Nov-12
1,416.34
1,448.00
1,398.11
1,426.19 3,479,625,500.00
Dec-12
1,426.19
1,509.94
1,426.19
1,498.11 3,802,304,200.00
Jan-13
1,498.11
1,530.94
1,485.01
1,514.68 3,851,884,200.00
Feb-13
1,514.68
1,570.28
1,501.48
1,569.19 3,591,577,500.00
Mar-13
1,569.18
1,597.57
1,536.03
1,597.57 3,674,685,000.00
Apr-13
1,597.55
1,687.18
1,581.28
1,630.74 3,661,220,400.00
May-13
1,631.71
1,654.19
1,560.33
1,606.28 3,996,199,000.00
Jun-13
1,609.78
1,698.78
1,604.57
1,685.73 3,270,645,900.00
Jul-13
1,689.42
1,709.67
1,627.47
1,632.97 3,069,868,600.00
Aug-13
1,635.95
1,729.86
1,633.41
1,681.55 3,474,152,000.00
Sep-13
1,682.41
1,775.22
1,646.47
1,756.54 3,498,866,500.00
Oct-13
1,758.70
1,813.55
1,746.20
1,805.81 3,261,324,500.00
Nov-13
1,806.55
1,849.44
1,767.99
1,848.36 3,203,412,300.00
Dec-13
1,845.86
1,850.84
1,770.45
1,782.59 3,806,266,600.00
Jan-14
1,782.68
1,867.92
1,737.92
1,859.45 3,875,949,400.00
Feb-14
1,857.68
1,883.97
1,834.44
1,872.34 3,579,015,700.00
Mar-14
1,873.96
1,897.28
1,814.36
1,883.95 3,589,287,600.00
Apr-14
1,884.39
1,924.03
1,859.79
1,923.57 3,185,100,900.00
May-14
1,923.87
1,968.17
1,915.98
1,960.23 3,158,130,000.00
Jun-14
1,962.29
1,991.39
1,930.67
1,930.67 3,214,440,400.00
Jul-14
1,929.80
2,005.04
1,904.78
2,003.37 2,875,718,500.00
Aug-14
2,004.07
2,019.26
1,964.04
1,972.29 3,364,623,800.00
Sep-14
1,971.44
2,018.19
1,820.66
2,018.05 4,260,310,800.00
Oct-14

Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16

2,018.21
2,065.78
2,058.90
1,996.67
2,105.23
2,067.63
2,087.38
2,108.64
2,067.00
2,104.49
1,970.09
1,919.65
2,080.76
2,082.93
2,038.20
1,936.94
1,937.09
2,056.62

2,075.76
2,093.55
2,072.36
2,119.59
2,117.52
2,125.92
2,134.72
2,129.87
2,132.82
2,112.66
2,020.86
2,094.32
2,116.48
2,104.27
2,038.20
1,962.96
2,072.21
2,111.05

2,001.01
1,972.56
1,988.12
1,980.90
2,039.69
2,048.38
2,067.93
2,056.32
2,044.02
1,867.01
1,871.91
1,893.70
2,019.39
1,993.26
1,812.29
1,810.10
1,937.09
2,033.80

2,067.56
2,058.90
1,994.99
2,104.50
2,067.89
2,085.51
2,107.39
2,063.11
2,103.84
1,972.18
1,920.03
2,079.36
2,080.41
2,043.94
1,940.24
1,932.23
2,059.74
2,065.30

3,479,201,500.00
3,788,631,300.00
4,091,934,500.00
3,806,470,500.00
3,638,745,400.00
3,521,458,000.00
3,455,756,000.00
3,513,296,300.00
3,709,178,600.00
4,216,280,400.00
4,024,497,100.00
4,095,504,500.00
4,007,931,000.00
3,922,935,900.00
5,153,017,800.00
4,881,887,000.00
4,379,759,000.00
4,087,129,000.00

Adj Close
1,363.61
1,345.20
1,320.64
1,292.28
1,218.89
1,131.42
1,253.30
1,246.96
1,257.60
1,312.41
1,365.68
1,408.47
1,397.91
1,310.33
1,362.16
1,379.32
1,406.58
1,440.67
1,412.16
1,416.18
1,426.19
1,498.11
1,514.68
1,569.19
1,597.57
1,630.74
1,606.28
1,685.73
1,632.97
1,681.55
1,756.54
1,805.81
1,848.36
1,782.59
1,859.45
1,872.34
1,883.95
1,923.57
1,960.23
1,930.67
2,003.37
1,972.29
2,018.05

2,067.56
2,058.90
1,994.99
2,104.50
2,067.89
2,085.51
2,107.39
2,063.11
2,103.84
1,972.18
1,920.03
2,079.36
2,080.41
2,043.94
1,940.24
1,932.23
2,059.74
2,065.30

Contenido:

Fecha

Matriz de Rendimientos

Matriz de Excesos

Optimizaciones

Combinacion de Portafolios

NFLX
May-11
Jun-11
Jul-11
Aug-11
Sep-11
Oct-11
Nov-11
Dec-11
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14

15.18%
-3.04%
1.25%
-12.38%
-72.99%
-32.21%
-24.06%
7.12%
55.09%
-8.21%
3.82%
-36.15%
-23.37%
7.66%
-18.63%
4.93%
-9.26%
37.54%
3.07%
12.50%
57.92%
12.95%
0.64%
13.24%
4.60%
-6.94%
14.68%
14.95%
8.54%
4.20%
12.60%
0.65%
10.60%
8.50%
-23.58%
-8.90%
26.04%

MNST

7.99%
12.20%
-5.50%
10.76%
2.28%
2.04%
3.43%
-0.07%
12.60%
9.01%
8.24%
4.58%
11.06%
-1.95%
-6.95%
-11.95%
-8.64%
-19.12%
15.34%
1.51%
-9.82%
5.21%
-5.54%
16.67%
-3.26%
10.82%
0.26%
-6.08%
-9.38%
9.10%
3.35%
13.55%
0.19%
8.60%
-6.35%
-3.65%
3.55%

AZO

6.60%
-2.91%
-2.99%
-1.22%
-6.68%
8.20%
6.68%
4.87%
2.73%
7.72%
-0.67%
-0.03%
0.71%
3.91%
-2.88%
0.66%
6.11%
-3.91%
0.24%
3.88%
6.16%
-0.16%
7.30%
6.04%
-1.04%
-0.70%
7.64%
-5.76%
-2.26%
9.65%
7.28%
6.66%
-5.12%
7.70%
2.32%
-2.53%
7.42%

MATRIZ DE RENDIMIENTOS
BIIB
AET

-3.04%
12.11%
-4.84%
-7.83%
-1.12%
22.25%
-1.22%
-4.36%
6.93%
-1.26%
7.86%
6.16%
-2.46%
9.92%
1.00%
0.52%
1.77%
-7.66%
7.58%
-1.84%
6.42%
6.37%
14.67%
12.80%
8.14%
-9.86%
1.35%
-2.37%
12.24%
1.41%
17.53%
-4.00%
11.18%
8.59%
-10.78%
-6.33%
10.65%

10.30%
4.42%
-0.59%
7.56%
5.06%
6.22%
1.90%
1.97%
2.01%
4.28%
6.54%
7.31%
1.48%
4.19%
-6.65%
-4.41%
0.25%
-19.16%
4.58%
-2.87%
-1.42%
12.22%
6.92%
-1.81%
1.00%
5.66%
5.38%
-1.79%
8.12%
2.15%
-4.82%
1.37%
-11.05%
8.08%
-4.84%
-0.21%
1.83%

Jun-14
Jul-14
Aug-14
Sep-14
Oct-14
Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16
Beta
Pendiente
Media Mensual
Desv. Est Mensual
Varianza Mensual
Media Anual
Desv. Est Anual
Varianza Anual

5.31%
-4.14%
12.21%
-5.70%
-13.86%
-12.51%
-1.45%
25.72%
7.23%
-13.08%
28.93%
11.46%
5.13%
19.72%
0.63%
-10.79%
4.84%
12.92%
-7.53%
-21.95%
1.70%
9.02%
-12.71%

2.35%
-10.48%
32.37%
3.62%
9.57%
10.59%
-3.45%
7.64%
18.79%
-1.95%
-0.94%
-7.44%
5.16%
13.60%
-10.34%
-2.43%
0.87%
12.59%
-3.72%
-9.82%
-7.32%
6.09%
7.81%

-3.84%
1.66%
3.97%
0.18%
7.86%
6.27%
5.28%
2.26%
5.65%
-0.64%
-3.53%
3.06%
2.41%
7.30%
-9.38%
-5.96%
2.69%
-4.86%
3.84%
-0.77%
0.60%
6.53%
-2.75%

-1.28%
5.88%
2.55%
-3.63%
-2.99%
-4.26%
9.82%
13.67%
5.12%
3.04%
-12.15%
5.98%
1.74%
-23.68%
-6.98%
-1.86%
-0.45%
-1.26%
6.57%
-11.50%
-5.12%
0.35%
5.48%

2.66%
0.02%
-1.55%
4.45%
7.72%
12.10%
2.91%
1.02%
11.39%
1.83%
-6.02%
-1.88%
5.20%
-1.22%
-2.29%
-13.45%
-1.77%
14.17%
2.31%
5.17%
-1.32%
2.72%
-3.39%

1.83
1.83
1.66%
20.07%
4.03%
21.85%
69.53%
48.35%

0.48
0.48
2.45%
9.18%
0.84%
33.77%
31.79%
10.11%

0.84
0.84
1.82%
4.60%
0.21%
24.23%
15.95%
2.54%

0.80
0.80
1.73%
8.13%
0.66%
22.79%
28.16%
7.93%

0.28
0.28
1.70%
5.98%
0.36%
22.41%
20.72%
4.29%

AZO

MATRIZ DE VARIANZAS Y COVAR

BIIB
AET

60

Datos :

NFLX
NFLX
MNST
AZO
BIIB
AET
GM
GIS
KMB

4.03%
0.01%
0.15%
0.15%
-0.25%
0.52%
0.39%
0.45%

MNST

0.01%
0.84%
0.13%
0.05%
0.23%
0.08%
0.09%
0.23%

0.15%
0.13%
0.21%
0.08%
0.08%
0.13%
0.13%
0.05%

0.15%
0.05%
0.08%
0.66%
0.08%
0.20%
0.16%
0.08%

-0.25%
0.23%
0.08%
0.08%
0.36%
-0.02%
-0.02%
0.07%

0.28%
0.16%

GT
AAP

NFLX
NFLX
MNST
AZO
BIIB
AET
GM
GIS
KMB
GD
AAP

1.0000
0.0070
0.1895
0.0897
0.2097
0.3067
0.5398
0.5303
0.2890
0.1114

20.07%

NFLX

MNST

1.66%

NFLX

2.45%

MNST

0.95%

NFLX

5.55%

MNST

8.26%

41.91%

0.09%
0.11%

MNST

0.0070
1.0000
0.3489
0.0610
0.4385
0.1015
0.2847
0.5840
0.2050
0.1676
9.18%

AZO

1.82%

AZO

42.75%

AZO

140.51%

0.10%
0.13%

AZO

0.1895
0.3489
1.3464
0.2586
0.3524
0.3766
0.8994
0.3008
0.5394
0.4452
3.97%

BIIB

1.73%

BIIB

8.31%

BIIB

13.68%

0.09%
0.05%

BIIB

0.00%
-0.03%

MATRIZ DE CORRELACIONE
AET

0.0897
0.0610
0.2586
1.0000
0.1592
0.2926
0.5536
0.2279
0.2287
0.0889

8.13%

RETORNOS
AET

1.70%
PORTAFOLIO_1
AET

29.41%

PORTAFOLIO_2
AET

130.63%

0.2097
0.4385
0.3524
0.1592
1.0559
0.0437
0.1104
0.2899
0.0058
0.0685
5.82%

GM

0.13%

GM

-18.40%

GM

-103.70%

Proporcin de Portafolio 1
Media Retorno
Varianza
Desv. Est

30%
2.86%
2.04%
14.28%

Desv. Est

14.28%

Media
Retorno

2.86%

-60%
-50%
-40%
-30%
-20%
-10%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
110%
120%
130%
140%
NFLX
MNST
AZO
BIIB
AET
GM
GIS
KMB
GD
AAP
RF
OPT SHARPE

20.07%
9.18%
3.97%
8.13%
5.82%
8.48%
3.55%
4.23%
4.89%
7.23%
0%
4.39%

1.66%
2.45%
1.82%
1.73%
1.70%
0.13%
2.27%
2.02%
1.31%
1.47%
0.1266%
2.13%

Retornos
NFLX
MNST
AZO
BIIB
AET
GM
GIS
KMB
GD
AAP

1.66%
2.45%
1.82%
1.73%
1.70%
0.13%
2.27%
2.02%
1.31%
1.47%

Portafolio

8.26%
41.91%
140.51%
13.68%
130.63%
-103.70%
-153.91%
50.94%
-3.16%
-25.16%

sos

Matriz de Varianzas y Covarianzas Matriz de Correlaciones

e Portafolios

Valor en Riesgo

DIMIENTOS
GM

GIS

KMB

GD

AAP

-0.88%
-4.67%
-9.24%
-14.14%
-17.46%
24.76%
-19.41%
-4.91%
16.97%
8.00%
-1.43%
-10.90%
-3.54%
-11.85%
-0.05%
7.99%
6.35%
11.41%
1.48%
10.79%
-2.60%
-3.40%
2.44%
10.31%
9.43%
-1.73%
7.40%
-5.12%
5.40%
2.69%
4.70%
5.38%
-12.47%
0.33%
-4.16%
0.17%
0.29%

0.68%
-3.48%
-13.68%
-14.39%
-6.97%
6.15%
-2.01%
2.18%
11.26%
-6.41%
-8.60%
0.48%
8.67%
2.19%
-0.33%
-2.65%
-1.92%
0.57%
7.74%
7.29%
9.05%
4.28%
14.24%
1.62%
3.37%
-9.18%
7.04%
-7.38%
12.81%
16.78%
7.66%
1.55%
10.62%
6.87%
5.26%
2.34%
9.01%

0.45%
3.89%
8.45%
-3.33%
0.46%
-1.27%
-10.47%
-10.51%
11.63%
-7.89%
11.96%
13.55%
-8.54%
7.00%
2.14%
6.22%
2.41%
-8.80%
7.91%
-0.47%
5.67%
-0.46%
0.84%
-4.88%
5.89%
3.11%
8.13%
-6.96%
10.68%
15.22%
7.81%
1.30%
-10.60%
0.95%
-7.37%
-10.08%
2.73%

1.90%
1.04%
-8.95%
-6.14%
-11.90%
12.90%
2.87%
0.53%
4.72%
5.72%
0.20%
-7.62%
-5.31%
3.00%
-3.12%
3.21%
0.93%
3.68%
-2.35%
4.83%
-4.38%
2.49%
3.67%
5.59%
4.16%
1.58%
9.28%
-2.48%
5.00%
-0.36%
5.64%
4.16%
6.44%
7.81%
-0.57%
1.07%
7.62%

-5.27%
-5.89%
-6.21%
9.95%
-4.31%
11.33%
6.18%
0.68%
9.59%
10.79%
3.75%
3.58%
-23.00%
-6.60%
2.79%
1.37%
-3.75%
3.59%
3.07%
-1.02%
1.60%
3.76%
8.02%
1.48%
-2.85%
-0.36%
1.61%
-2.98%
3.28%
18.20%
1.83%
9.20%
3.66%
10.37%
-0.63%
-4.21%
2.35%

S&P500

-1.36%
-1.84%
-2.17%
-5.85%
-7.45%
10.23%
-0.51%
0.85%
4.27%
3.98%
3.09%
-0.75%
-6.47%
3.88%
1.25%
1.96%
2.39%
-2.00%
0.28%
0.70%
4.92%
1.10%
3.54%
1.79%
2.06%
-1.51%
4.83%
-3.18%
2.93%
4.36%
2.77%
2.33%
-3.62%
4.22%
0.69%
0.62%
2.08%

5.68%
-7.08%
2.86%
-7.70%
-1.71%
6.26%
5.22%
-6.78%
13.43%
1.33%
-6.73%
2.56%
-6.59%
-5.62%
-6.80%
3.17%
15.09%
3.63%
-5.19%
-13.75%
-0.68%
7.79%
1.17%

1.77%
5.15%
12.58%
5.35%
2.08%
19.30%
1.33%
6.54%
-4.39%
2.56%
-8.82%
-9.05%
-11.10%
8.98%
1.56%
3.59%
19.63%
-0.89%
-6.19%
-13.51%
10.89%
6.75%
-0.43%

3.84%
-3.70%
7.99%
-5.02%
-5.41%
10.31%
-8.72%
13.31%
6.98%
-2.14%
12.53%
1.75%
1.13%
21.12%
-4.44%
-0.20%
20.11%
6.03%
1.65%
-14.10%
-6.05%
7.18%
10.53%

-1.34%
0.72%
5.40%
3.07%
10.02%
3.93%
-5.47%
-2.81%
4.10%
-2.22%
1.68%
2.05%
1.57%
5.10%
-4.86%
-2.91%
7.91%
-1.44%
-6.41%
-2.13%
1.85%
-3.66%
7.32%

8.35%
-10.80%
11.90%
-4.55%
12.03%
0.08%
8.01%
-0.18%
-2.59%
-3.40%
-4.57%
6.90%
3.92%
8.95%
0.60%
7.87%
4.59%
-19.83%
-7.77%
1.02%
-2.40%
7.75%
-2.68%

1.89%
-1.52%
3.70%
-1.56%
2.29%
2.42%
-0.42%
-3.15%
5.34%
-1.75%
0.85%
1.04%
-2.12%
1.95%
-6.46%
-2.68%
7.97%
0.05%
-1.77%
-5.21%
-0.41%
6.39%
0.27%

1.68
1.68
0.13%
8.48%
0.72%
1.60%
29.39%
8.64%

1.02
1.02
2.27%
7.89%
0.62%
30.97%
27.34%
7.48%

1.02
1.02
2.02%
8.00%
0.64%
27.18%
27.70%
7.68%

0.88
0.88
1.31%
4.89%
0.24%
16.84%
16.93%
2.87%

0.90
0.90
1.47%
7.23%
0.52%
19.13%
25.06%
6.28%

1.00
1.00

KMB

GD

AAP

E VARIANZAS Y COVARIANZAS
GM
GIS

0.52%
0.08%
0.13%
0.20%
-0.02%
0.72%
0.26%
0.16%

0.39%
0.09%
0.13%
0.16%
-0.02%
0.26%
0.62%
0.17%

0.45%
0.23%
0.05%
0.08%
0.07%
0.16%
0.17%
0.64%

0.28%
0.09%
0.10%
0.09%
0.00%
0.21%
0.15%
0.03%

0.16%
0.11%
0.13%
0.05%
-0.03%
0.15%
0.11%
0.08%

0.21%
0.15%

RIZ DE CORRELACIONES
GM

0.3067
0.1015
0.3766
0.2926
0.0437 1.0000
0.8576
0.4511
0.5179
0.2475
8.48%

0.15%
0.11%

GIS

0.5398
0.2847
0.8994
0.5536
0.1104
0.8576
4.9320
1.1417
0.8733
0.4325
3.55%

0.03%
0.08%

KMB

0.5303
0.5840
0.3008
0.2279
0.2899
0.4511
1.1417
3.5730
0.1691
0.2455
4.23%

0.24%
0.11%

GD

0.11%
0.52%

AAP

0.2890
0.2050
0.5394
0.2287
0.0058 0.5179
0.8733
0.1691
1.0000
0.3205
4.89%

0.1114
0.1676
0.4452
0.0889
0.0685
0.2475
0.4325
0.2455
0.3205
1.0000
7.23%

OPTIMIZACIONES

GIS

KMB

2.27%

GIS

2.02%

KMB

-0.45%

GIS

27.19%

KMB

-153.91%

50.94%

GD

1.31%

AAP

1.47%

GD

AAP

17.04%

-12.34%

GD

AAP

-3.16%

COBINACION DE PORTAFOLIOS

-25.16%

100.00%

100.00%

20.07%
9.18%
3.97%
8.13%
5.82%
8.48%
3.55%
4.23%
4.89%
7.23%

Chart Title
3.00%

2.50%

2.00%

1.50%

1.00%

0.50%

0.00%
0.00%

5.00%

10.00%
Column D

VALOR EN RIESGO (VaR)

15.00%
Column E

Column F

Inversin Inicial
Media
Sigma
Valor de Inversin esperado
Desv. Est. De la Inversin

Probabilidad Acumulada
VaR a un nivel del: 10,00%

100,000
3.17%
19.77%
103,169
19,769
77,834
10%
22,166

laciones

NFLX
13.52%
-4.70%
-0.41%
-14.04%
-74.65%
-33.87%
-25.72%
5.46%
53.42%
-9.87%
2.16%
-37.81%
-25.03%
6.00%
-20.29%
3.26%
-10.92%
35.88%
1.41%
10.84%
56.26%
11.29%
-1.02%
11.58%
2.94%
-8.60%
13.02%
13.29%
6.88%
2.54%
10.94%
-1.01%
8.94%
6.84%
-25.24%
-10.56%
24.38%

MNST
5.53%
9.75%
-7.95%
8.30%
-0.17%
-0.41%
0.98%
-2.52%
10.14%
6.55%
5.78%
2.13%
8.60%
-4.40%
-9.40%
-14.40%
-11.10%
-21.58%
12.88%
-0.95%
-12.27%
2.75%
-8.00%
14.22%
-5.72%
8.37%
-2.19%
-8.54%
-11.84%
6.65%
0.90%
11.10%
-2.26%
6.15%
-8.80%
-6.11%
1.10%

AZO
4.77%
-4.74%
-4.81%
-3.04%
-8.50%
6.37%
4.86%
3.05%
0.91%
5.89%
-2.49%
-1.85%
-1.11%
2.08%
-4.71%
-1.16%
4.29%
-5.74%
-1.59%
2.06%
4.34%
-1.98%
5.47%
4.21%
-2.86%
-2.52%
5.81%
-7.58%
-4.09%
7.82%
5.45%
4.83%
-6.95%
5.88%
0.50%
-4.35%
5.59%

BIIB
-4.76%
10.38%
-6.56%
-9.55%
-2.85%
20.52%
-2.94%
-6.08%
5.21%
-2.99%
6.14%
4.44%
-4.19%
8.19%
-0.73%
-1.21%
0.05%
-9.38%
5.85%
-3.57%
4.70%
4.64%
12.94%
11.08%
6.41%
-11.58%
-0.37%
-4.10%
10.52%
-0.31%
15.80%
-5.72%
9.45%
6.86%
-12.50%
-8.05%
8.92%

MATRIZ DE EXCESOS
AET
8.60%
2.72%
-2.29%
5.86%
3.36%
4.52%
0.20%
0.27%
0.31%
2.58%
4.84%
5.61%
-0.22%
2.49%
-8.35%
-6.11%
-1.45%
-20.86%
2.88%
-4.57%
-3.11%
10.53%
5.22%
-3.51%
-0.70%
3.97%
3.68%
-3.49%
6.42%
0.45%
-6.52%
-0.33%
-12.75%
6.38%
-6.54%
-1.91%
0.13%

3.65%
-5.80%
10.55%
-7.36%
-15.52%
-14.17%
-3.11%
24.06%
5.57%
-14.74%
27.27%
9.80%
3.47%
18.06%
-1.03%
-12.46%
3.18%
11.26%
-9.19%
-23.61%
0.03%
7.36%
-14.37%

-0.10%
-12.94%
29.92%
1.17%
7.12%
8.14%
-5.90%
5.18%
16.33%
-4.40%
-3.39%
-9.89%
2.71%
11.15%
-12.80%
-4.88%
-1.58%
10.14%
-6.18%
-12.27%
-9.77%
3.64%
5.36%

-5.66%
-0.16%
2.14%
-1.65%
6.04%
4.44%
3.45%
0.43%
3.83%
-2.46%
-5.35%
1.24%
0.59%
5.48%
-11.20%
-7.78%
0.87%
-6.69%
2.01%
-2.59%
-1.23%
4.71%
-4.58%

-3.00%
4.15%
0.83%
-5.36%
-4.71%
-5.99%
8.10%
11.94%
3.39%
1.32%
-13.88%
4.26%
0.01%
-25.40%
-8.70%
-3.59%
-2.17%
-2.99%
4.85%
-13.23%
-6.85%
-1.38%
3.76%

0.96%
-1.68%
-3.25%
2.75%
6.02%
10.40%
1.21%
-0.68%
9.69%
0.13%
-7.72%
-3.58%
3.50%
-2.92%
-3.99%
-15.15%
-3.47%
12.47%
0.61%
3.47%
-3.02%
1.02%
-5.09%

1.530% Anual
0.1266% Mensual

Tasa Cero Riesgo

MEDIA

2.13%

MEDIA

3.17%
COVARIANZA

VARIANZA

0.19%

VARIANZA

3.91%
0.51%

DESVIACION

4.39%

DESVIACION

19.77%

SHARPE

48.54%

SHARPE

16.03%

itle

mn E

15.00%
Column F

20.00%

25.00%

MATRIZ DE EXCESOS
GM
-1.01%
-4.80%
-9.37%
-14.27%
-17.59%
24.63%
-19.54%
-5.04%
16.84%
7.87%
-1.56%
-11.04%
-3.67%
-11.98%
-0.18%
7.86%
6.22%
11.28%
1.35%
10.66%
-2.73%
-3.54%
2.31%
10.17%
9.30%
-1.86%
7.27%
-5.25%
5.27%
2.56%
4.57%
5.25%
-12.60%
0.20%
-4.29%
0.04%
0.16%

GIS
-1.60%
-5.76%
-15.95%
-16.66%
-9.24%
3.88%
-4.28%
-0.09%
8.98%
-8.68%
-10.87%
-1.79%
6.40%
-0.08%
-2.60%
-4.92%
-4.19%
-1.71%
5.47%
5.02%
6.78%
2.00%
11.97%
-0.65%
1.10%
-11.46%
4.77%
-9.65%
10.53%
14.51%
5.38%
-0.72%
8.34%
4.60%
2.99%
0.07%
6.74%

KMB
-1.58%
1.86%
6.43%
-5.36%
-1.56%
-3.29%
-12.49%
-12.54%
9.60%
-9.91%
9.93%
11.53%
-10.57%
4.98%
0.12%
4.20%
0.38%
-10.83%
5.88%
-2.49%
3.64%
-2.49%
-1.19%
-6.90%
3.86%
1.08%
6.11%
-8.98%
8.65%
13.19%
5.79%
-0.72%
-12.62%
-1.08%
-9.39%
-12.10%
0.71%

GD
0.60%
-0.26%
-10.26%
-7.45%
-13.21%
11.59%
1.57%
-0.78%
3.41%
4.41%
-1.10%
-8.92%
-6.61%
1.70%
-4.43%
1.91%
-0.38%
2.38%
-3.65%
3.53%
-5.69%
1.18%
2.36%
4.28%
2.85%
0.28%
7.98%
-3.79%
3.70%
-1.67%
4.34%
2.85%
5.13%
6.50%
-1.87%
-0.24%
6.32%

AAP
-6.74%
-7.36%
-7.68%
8.48%
-5.78%
9.86%
4.71%
-0.79%
8.12%
9.32%
2.28%
2.11%
-24.47%
-8.07%
1.32%
-0.10%
-5.22%
2.12%
1.60%
-2.49%
0.13%
2.29%
6.55%
0.01%
-4.32%
-1.83%
0.14%
-4.45%
1.81%
16.73%
0.36%
7.73%
2.19%
8.90%
-2.10%
-5.68%
0.88%

5.55%
-7.21%
2.72%
-7.84%
-1.84%
6.13%
5.09%
-6.92%
13.30%
1.19%
-6.86%
2.43%
-6.72%
-5.75%
-6.93%
3.04%
14.96%
3.50%
-5.32%
-13.89%
-0.81%
7.65%
1.04%

-0.51%
2.88%
10.31%
3.08%
-0.19%
17.03%
-0.94%
4.27%
-6.66%
0.28%
-11.09%
-11.33%
-13.37%
6.71%
-0.72%
1.31%
17.36%
-3.16%
-8.47%
-15.78%
8.62%
4.48%
-2.70%

1.81%
-5.72%
5.97%
-7.04%
-7.43%
8.29%
-10.75%
11.29%
4.96%
-4.17%
10.51%
-0.27%
-0.90%
19.09%
-6.46%
-2.22%
18.08%
4.01%
-0.37%
-16.12%
-8.08%
5.15%
8.51%

-2.64%
-0.58%
4.10%
1.76%
8.71%
2.62%
-6.78%
-4.11%
2.79%
-3.53%
0.37%
0.74%
0.27%
3.80%
-6.17%
-4.22%
6.61%
-2.74%
-7.72%
-3.43%
0.55%
-4.97%
6.01%

6.88%
-12.27%
10.43%
-6.01%
10.56%
-1.39%
6.54%
-1.65%
-4.06%
-4.87%
-6.04%
5.43%
2.45%
7.48%
-0.87%
6.40%
3.12%
-21.30%
-9.24%
-0.45%
-3.87%
6.28%
-4.15%

Fecha
May-11
Jun-11
Jul-11
Aug-11
Sep-11
Oct-11
Nov-11
Dec-11
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Aug-14
Sep-14

NFLX

15.18%
-3.04%
1.25%
-12.38%
-72.99%
-32.21%
-24.06%
7.12%
55.09%
-8.21%
3.82%
-36.15%
-23.37%
7.66%
-18.63%
4.93%
-9.26%
37.54%
3.07%
12.50%
57.92%
12.95%
0.64%
13.24%
4.60%
-6.94%
14.68%
14.95%
8.54%
4.20%
12.60%
0.65%
10.60%
8.50%
-23.58%
-8.90%
26.04%
5.31%
-4.14%
12.21%
-5.70%

MNST

7.99%
12.20%
-5.50%
10.76%
2.28%
2.04%
3.43%
-0.07%
12.60%
9.01%
8.24%
4.58%
11.06%
-1.95%
-6.95%
-11.95%
-8.64%
-19.12%
15.34%
1.51%
-9.82%
5.21%
-5.54%
16.67%
-3.26%
10.82%
0.26%
-6.08%
-9.38%
9.10%
3.35%
13.55%
0.19%
8.60%
-6.35%
-3.65%
3.55%
2.35%
-10.48%
32.37%
3.62%

AZO

4.03%
0.29%
-3.24%
7.28%
3.89%
1.37%
1.47%
-1.04%
6.81%
7.37%
-0.72%
6.35%
-4.10%
-3.50%
2.17%
-3.69%
2.20%
1.43%
2.31%
-7.95%
4.22%
2.79%
4.28%
3.06%
-0.06%
3.57%
5.71%
-6.60%
0.66%
2.79%
6.01%
3.48%
3.52%
8.40%
-0.25%
-0.60%
-0.26%
0.70%
-3.65%
4.13%
-5.57%

BIIB

AET

-3.04%
12.11%
-4.84%
-7.83%
-1.12%
22.25%
-1.22%
-4.36%
6.93%
-1.26%
7.86%
6.16%
-2.46%
9.92%
1.00%
0.52%
1.77%
-7.66%
7.58%
-1.84%
6.42%
6.37%
14.67%
12.80%
8.14%
-9.86%
1.35%
-2.37%
12.24%
1.41%
17.53%
-4.00%
11.18%
8.59%
-10.78%
-6.33%
10.65%
-1.28%
5.88%
2.55%
-3.63%

5.41%
0.93%
-5.73%
-3.58%
-9.67%
9.40%
5.05%
0.88%
3.91%
6.77%
7.02%
-12.65%
-7.42%
-5.32%
-6.79%
6.31%
3.05%
10.25%
-1.15%
6.97%
4.50%
-2.18%
8.02%
12.00%
4.99%
5.10%
1.30%
-1.22%
0.99%
-1.78%
9.47%
-0.49%
-0.06%
6.21%
3.06%
-4.50%
8.19%
4.45%
-4.20%
5.76%
-1.39%

Oct-14
Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16

-13.86%
-12.51%
-1.45%
25.72%
7.23%
-13.08%
28.93%
11.46%
5.13%
19.72%
0.63%
-10.79%
4.84%
12.92%
-7.53%
-21.95%
1.70%
9.02%
-12.71%

9.57%
10.59%
-3.45%
7.64%
18.79%
-1.95%
-0.94%
-7.44%
5.16%
13.60%
-10.34%
-2.43%
0.87%
12.59%
-3.72%
-9.82%
-7.32%
6.09%
7.81%

8.26%
4.28%
6.92%
-3.64%
7.38%
5.96%
-1.40%
0.14%
-1.00%
4.98%
2.12%
1.09%
8.04%
-0.08%
-5.49%
3.38%
0.93%
2.82%
-4.03%

-2.99%
-4.26%
9.82%
13.67%
5.12%
3.04%
-12.15%
5.98%
1.74%
-23.68%
-6.98%
-1.86%
-0.45%
-1.26%
6.57%
-11.50%
-5.12%
0.35%
5.48%

2.14%
5.57%
1.81%
3.59%
8.08%
6.78%
0.55%
9.88%
7.74%
-11.85%
1.36%
-4.56%
5.02%
-11.07%
5.09%
-5.75%
6.45%
3.37%
0.16%

GM

-0.88%
-4.67%
-9.24%
-14.14%
-17.46%
24.76%
-19.41%
-4.91%
16.97%
8.00%
-1.43%
-10.90%
-3.54%
-11.85%
-0.05%
7.99%
6.35%
11.41%
1.48%
10.79%
-2.60%
-3.40%
2.44%
10.31%
9.43%
-1.73%
7.40%
-5.12%
5.40%
2.69%
4.70%
5.38%
-12.47%
0.33%
-4.16%
0.17%
0.29%
5.68%
-7.08%
2.86%
-7.70%

GIS

3.04%
-6.63%
1.17%
1.49%
1.52%
0.91%
3.62%
1.14%
-0.69%
-3.89%
2.93%
-0.66%
-1.58%
0.68%
1.26%
1.61%
1.31%
1.40%
2.25%
-1.40%
4.49%
9.78%
6.41%
2.91%
-6.85%
3.03%
7.68%
-5.29%
-2.88%
5.88%
0.02%
-1.04%
-3.10%
4.10%
3.52%
3.08%
3.54%
-4.45%
-3.89%
6.24%
-5.65%

KMB

3.33%
-1.51%
-1.82%
5.65%
3.67%
-1.85%
2.49%
3.88%
-2.76%
1.83%
2.40%
6.01%
1.12%
6.36%
3.68%
-3.88%
3.46%
-2.75%
2.68%
-0.65%
5.84%
5.19%
4.70%
5.18%
-6.36%
1.15%
1.69%
-5.54%
1.67%
13.65%
1.07%
-3.64%
4.59%
0.89%
0.67%
1.80%
0.09%
-0.25%
-6.84%
3.90%
0.38%

GD

1.90%
1.04%
-8.95%
-6.14%
-11.90%
12.90%
2.87%
0.53%
4.72%
5.72%
0.20%
-7.62%
-5.31%
3.00%
-3.12%
3.21%
0.93%
3.68%
-2.35%
4.83%
-4.38%
2.49%
3.67%
5.59%
4.16%
1.58%
9.28%
-2.48%
5.00%
-0.36%
5.64%
4.16%
6.44%
7.81%
-0.57%
1.07%
7.62%
-1.34%
0.72%
5.40%
3.07%

AAP

-5.27%
-5.89%
-6.21%
9.95%
-4.31%
11.33%
6.18%
0.68%
9.59%
10.79%
3.75%
3.58%
-23.00%
-6.60%
2.79%
1.37%
-3.75%
3.59%
3.07%
-1.02%
1.60%
3.76%
8.02%
1.48%
-2.85%
-0.36%
1.61%
-2.98%
3.28%
18.20%
1.83%
9.20%
3.66%
10.37%
-0.63%
-4.21%
2.35%
8.35%
-10.80%
11.90%
-4.55%

-1.71%
6.26%
5.22%
-6.78%
13.43%
1.33%
-6.73%
2.56%
-6.59%
-5.62%
-6.80%
3.17%
15.09%
3.63%
-5.19%
-13.75%
-0.68%
7.79%
1.17%

3.77%
1.51%
1.09%
-0.83%
2.47%
5.09%
-1.46%
1.45%
-0.77%
5.13%
-2.52%
-1.12%
4.26%
-0.60%
-0.17%
-1.24%
4.06%
7.37%
-2.50%

6.04%
6.22%
-0.18%
-6.79%
1.56%
-1.55%
2.38%
-0.76%
-1.88%
8.15%
-7.62%
3.18%
9.34%
-0.47%
7.35%
0.88%
1.45%
3.88%
-7.18%

10.02%
3.93%
-5.47%
-2.81%
4.10%
-2.22%
1.68%
2.05%
1.57%
5.10%
-4.86%
-2.91%
7.91%
-1.44%
-6.41%
-2.13%
1.85%
-3.66%
7.32%

12.03%
0.08%
8.01%
-0.18%
-2.59%
-3.40%
-4.57%
6.90%
3.92%
8.95%
0.60%
7.87%
4.59%
-19.83%
-7.77%
1.02%
-2.40%
7.75%
-2.68%

Multiple Variable Distributional Fitting

Statistical Summary
Variable Name
Best-Fit Assumption

NFLX
0.02

Variable Name
Best-Fit Assumption

Fitted Distribution Gumbel Minimum

Alpha
0.08
Beta
0.14

Kolmogorov-Smirnov Statistic
P-Value for Test Statistic

0.07
0.9131

Actual
0.02
0.20
-0.32
3.30

Theoretical
0.00
0.18
-1.14
2.40

Variable Name
Best-Fit Assumption

BIIB
0.02

Mean
Standard Deviation
Skewness
Excess Kurtosis

Fitted Distribution Normal

Mean
Standard Deviation

0.06
0.9737

Actual
0.02
0.08
-0.17
0.68

Theoretical
0.02
0.08
0.00
0.00

Variable Name
Best-Fit Assumption

GIS
0.01

Mean
Standard Deviation
Skewness
Excess Kurtosis

Fitted Distribution Normal

Mean
Standard Deviation

0.06
0.9685

Actual
0.01
0.04
-0.08
-0.11

Theoretical
0.01
0.03
0.00
0.00

Variable Name
Best-Fit Assumption

AAP
0.01

Fitted Distribution Logistic

Alpha
Beta

Actual
0.02
0.09
0.35
0.63

Theoretical
0.03
0.09
0.00
0.00

Variable Name
Best-Fit Assumption

AET
0.02

0.06
0.9816

Actual
0.02
0.06
-0.65
-0.18

Theoretical
0.01
0.07
-1.14
2.40

Variable Name
Best-Fit Assumption

KMB
0.01

Mean
Standard Deviation
Skewness
Excess Kurtosis

0.06
0.9770

Actual
0.02
0.04
-0.34
-0.47

Theoretical
0.02
0.04
0.00
0.00

Variable Name
Best-Fit Assumption

GM
0.00

Mean
Standard Deviation
Skewness
Excess Kurtosis

Fitted Distribution Normal

Mean
Standard Deviation

0.05
0.9939

Actual
0.01
0.04
-0.05
0.41

Theoretical
0.01
0.04
-1.14
2.40

Mean
Standard Deviation
Skewness
Excess Kurtosis

0.06
0.9689

Actual
0.01
0.07
-0.76
1.93

Theoretical
0.02
0.08
0.00
1.20

0.04
1.0000

Actual
0.00
0.09
0.16
0.37

Theoretical
0.00
0.08
0.00
0.00

Variable Name
Best-Fit Assumption

GD
0.01

Mean
Standard Deviation
Skewness
Excess Kurtosis

Fitted Distribution Gumbel Minimum

Alpha
0.03
Beta
0.04

Kolmogorov-Smirnov Statistic
P-Value for Test Statistic

0.04
0.9998

Actual
0.01
0.05
-0.30
0.05

Theoretical
0.01
0.05
-1.14
2.40

Mean
Standard Deviation
Skewness
Excess Kurtosis

Correlation Matrix
NFLX
NFLX
MNST
AZO
BIIB
AET
GM
GIS
KMB
GD
AAP

MNST
1
0.0070
-0.0236
0.0897
0.3442
0.3067
0.0917
-0.0882
0.2890
0.1114

AZO
1
0.2990
0.0610
-0.0118
0.1015
0.1597
0.2388
0.2050
0.1676

BIIB

1
0.0252
0.0986
0.1995
0.4304
0.3959
0.1751
0.5320

AET

1
0.3692
0.2926
-0.0642
-0.1059
0.2287
0.0889

GM

1
0.5215
0.1470
-0.1557
0.4950
0.3017

GIS

1
0.0998
-0.1025
0.5179
0.2475

KMB

1
0.5305
0.1092
0.3251

0.00
0.08

Kolmogorov-Smirnov Statistic
P-Value for Test Statistic

Fitted Distribution Gumbel Minimum

Alpha
0.03
Beta
0.03

Kolmogorov-Smirnov Statistic
P-Value for Test Statistic

0.02
0.04

Kolmogorov-Smirnov Statistic
P-Value for Test Statistic

Fitted Distribution Gumbel Minimum

Alpha
0.05
Beta
0.05

Kolmogorov-Smirnov Statistic
P-Value for Test Statistic

AZO
0.02

Fitted Distribution Normal

Mean
Standard Deviation

0.02
0.04

Kolmogorov-Smirnov Statistic
P-Value for Test Statistic

Mean
Standard Deviation
Skewness
Excess Kurtosis

0.05
0.9928

Mean
Standard Deviation
Skewness
Excess Kurtosis

Variable Name
Best-Fit Assumption

0.03
0.09

Kolmogorov-Smirnov Statistic
P-Value for Test Statistic

0.01
0.03

Kolmogorov-Smirnov Statistic
P-Value for Test Statistic

Mean
Standard Deviation
Skewness
Excess Kurtosis

Fitted Distribution Normal

Mean
Standard Deviation

0.02
0.08

Kolmogorov-Smirnov Statistic
P-Value for Test Statistic

MNST
0.02

GD

1
-0.0193
0.2812

AAP

1
0.3205

Simulation - Simulation
General
Number of Trials
Stop Simulation on Error
Random Seed
Enable Correlations

1000
No
Random
Yes

Assumptions
Name
Enabled
Cell
Dynamic Simulation
Range
Minimum
Maximum
Distribution
Alpha
Beta

Name
Enabled
Cell
Dynamic Simulation
Range
Minimum
Maximum

NFLX
Yes
$E$6
No

-Infinito
Infinito

Range
Minimum
Maximum

AZO
Yes
$M$6
No

-Infinito
Infinito

Normal
0.0256565685
0.0943999717

Distribution
Mean
Standard Deviation

Normal
0.0167314837
0.042326697

BIIB
Yes
$E$24
No

Name
Enabled
Cell
Dynamic Simulation

AET
Yes
$I$24
No

Name
Enabled
Cell
Dynamic Simulation

GM
Yes
$M$24
No

Range
Minimum
Maximum

-Infinito
Infinito

-Infinito
Infinito

Name
Enabled
Cell
Dynamic Simulation

GIS
Yes
$E$42
No

-Infinito
Infinito

Distribution
Mean
Standard Deviation

Normal
0.0112881643
0.0338158512

Name
Enabled
Cell
Dynamic Simulation

AAP
Yes
$E$60
No

Distribution
Alpha
Beta

-Infinito
Infinito

Name
Enabled
Cell
Dynamic Simulation

Distribution
Mean
Standard Deviation

Normal
0.016295332
0.0842300934

Range
Minimum
Maximum

Range
Minimum
Maximum

MNST
Yes
$I$6
No

Gumbel Minimum
0.079347486
0.1406831643

Distribution
Mean
Standard Deviation

Range
Minimum
Maximum

Name
Enabled
Cell
Dynamic Simulation

-Infinito
Infinito
Logistic
0.01523842
0.0424712845

Range
Minimum
Maximum
Distribution
Alpha
Beta

Name
Enabled
Cell
Dynamic Simulation
Range
Minimum
Maximum
Distribution
Alpha
Beta

-Infinito
Infinito
Gumbel Minimum
0.0459531623
0.0539217543

Distribution
Mean
Standard Deviation

Normal
0.0019721162
0.082480585

KMB
Yes
$I$42
No

Name
Enabled
Cell
Dynamic Simulation

GD
Yes
$M$42
No

Range
Minimum
Maximum

-Infinito
Infinito

-Infinito
Infinito
Gumbel Minimum
0.0297836393
0.0349145224

Distribution
Alpha
Beta

Gumbel Minimum
0.0332429379
0.0420534143

Forecasts
Name
Enabled
Cell

RENTABILIDAD
Yes
$B$19

Forecast Precision
Precision Level
Error Level

Number of Datapoints
Mean
Median
Standard Deviation
Variance
Coefficient of Variation
Maximum
Minimum
Range
Skewness
Kurtosis
25% Percentile
75% Percentile
Error Precision at 95%

-----

1000
0.0112
0.0138
0.0385
0.0015
3.4304
0.1404
-0.1235
0.2639
-0.3151
0.2328
-0.0131
0.0384
0.2126

Correlation Matrix
NFLX
MNST
AZO
BIIB
AET
GM
GIS
KMB
GD
AAP

NFLX
1.00
0.00
0.00
0.00
0.34
0.31
0.00
0.00
0.29
0.00

MNST

AZO

BIIB

AET

GM

GIS

KMB

GD

AAP

1.00
0.30
0.00
0.00
0.00
0.00
0.24
0.20
0.00

1.00
0.00
0.00
0.20
0.43
0.40
0.18
0.53

1.00
0.37
0.29
0.00
0.00
0.23
0.00

1.00
0.52
0.00
0.00
0.50
0.30

1.00
0.00
0.00
0.52
0.25

1.00
0.53
0.00
0.33

1.00
0.00
0.28

1.00
0.32

1.00

NFLX

RETORNOS
PARTICIPACIONES:

1.66%
X_NFLX

9.87%
MATRIZ VAR_COVAR

NFLX

NFLX
MNST
AZO
BIIB
AET
GM
GIS
KMB
GD
AAP

4.03%
0.01%
-0.02%
0.15%
0.40%
0.52%
0.07%
-0.07%
0.28%
0.16%

RENTABILIDAD
VARIANZA
DESVIACION

4.48%
1.00%
10.00%

MNST

2.45%
X_MNST

65.85%
MNST

0.01%
0.84%
0.11%
0.05%
-0.01%
0.08%
0.05%
0.09%
0.09%
0.11%

AZO

1.66%
X_AZO

100.00%
AZO

-0.02%
0.11%
0.16%
0.01%
0.02%
0.07%
0.06%
0.07%
0.03%
0.15%

BIIB

1.73%
X_BIIB

27.40%
BIIB

0.15%
0.05%
0.01%
0.66%
0.17%
0.20%
-0.02%
-0.04%
0.09%
0.05%

AET

1.77%
X_AET

100.00%
AET

0.40%
-0.01%
0.02%
0.17%
0.34%
0.26%
0.03%
-0.04%
0.14%
0.13%

GM

0.13%

GIS

1.03%

X_GM

X_GIS

-100.00%

-100.00%

GM

0.52%
0.08%
0.07%
0.20%
0.26%
0.72%
0.03%
-0.04%
0.21%
0.15%

GIS

0.07%
0.05%
0.06%
-0.02%
0.03%
0.03%
0.13%
0.08%
0.02%
0.08%

KMB

1.42%
X_KMB

20.91%
KMB

-0.07%
0.09%
0.07%
-0.04%
-0.04%
-0.04%
0.08%
0.18%
0.00%
0.09%

GD

1.31%
X_GD

-12.04%
GD

0.28%
0.09%
0.03%
0.09%
0.14%
0.21%
0.02%
0.00%
0.24%
0.11%

AAP

1.47%
X_AAP

-11.98%
AAP

0.16%
0.11%
0.15%
0.05%
0.13%
0.15%
0.08%
0.09%
0.11%
0.52%

100.00%