New MicroTSP Workfilex3ta\e A$1:0)S UNSU:,&A?"AH7P|K v` BOOK]S,` p3C]S+` v`)DATESf/]S,` v`/EXXON5]S,` v`6GE<]S,` v`<GOLD/C]S,` v`ICIBMI]S,` v`IMSOFTYP]S,` v`sPRESID]S,` v`_VRISKFREE\]S,` v`\SIZEtc]S,` v`cSP500 j]S,` v`#jTBILLp]S,` v`pWMART>w]S,`ezl v` l( p3(. v`)f/.Z5 v`/5Z5; v`6<;B v`</CB#I v`ICI#IO v`IYPOMV v`sPMV9\ v`_V\9\b v`\tcbhi v`c jhio v`#jpov v`p>wvezq= ףp(\ q= ףpQ뱿Gz??Q?\(\)\(zGQzGffffff?333333㿮Gz?p= ף)\(= ףp=ڿ)\(Q{Gz@q= ףp@Q @q= ףp@zG?ffffff @)\(zGʿ)\(@333333@zG@Q?Q@HzG {Gz@Q @Gz׿zGڿGz= ףp=ڿ333333?@ffffff?zG?p= ף??ffffff? p= ף(\?Gz?(\?RQ)\(?333333?ףp= Gz?QQ(\?Gz?ףp= ?(\RQ?GzQ333333?Q@zGffffff\(\@zG?Gz?{Gz ףp= @Q@{Gz{GzGz?= ףp=ڿ)\(?HzGѿffffff@{Gz?p= ף@p= ףGzffffff?Q?HzG@(\ffffff򿚙@Q\(\ffffff Q?Qq= ףp@Q@zG(\?(\(\RQ {Gz(\! ףp= ?= ףp(Gz @zGa"@@ ףp=#Q @Q(\@Gz@ףp= (@ףp= @ffffff= ףp+@\(\@HzG{Gz@333333RQ@Q @?zG??Gz @HzG@(\?(\@@\(\? zG@Gz?{GzzG@Q)\()\( ףp= Q?zG?Q? ףp= ?)\(?Gz?ffffff@Q?= ףp=?Q?333333(\ҿGz?(\@22x&A!U&A:,&A!U7d[Description] Fama-French book-to-market factor [History] Imported from 'D:\Work\Dropbox\FinancialEconometrics\Data\Excel\Formatted Excel Files\capm.xlsx'~2x7D(:,&Av,&A,&A,&A.-&Al-&A-&A-&A".&A`.&A.&A.&A/&AP/&A/&A/&A0&AF0&A0&A0&A0&A:1&Ax1&A1&A1&A,2&Aj2&A2&A2&A"3&A^3&A3&A3&A4&AT4&A4&A4&A5&AD5&A5&A5&A5&A86&Av6&A6&A6&A.7&Af7&A7&A7&A8&AZ8&A8&A8&A9&AP9&A9&A9&A:&A@:&A~:&A:&A:&A4;&Ar;&A;&A;&A*<&Af<&A<&A<&A=&AZ=&A=&A=&A>&AN>&A>&A>&A?&AB?&A?&A?&A?&A4@&Ap@&A@&A@&A(A&AfA&AA&AA&AB&AZB&AB&AB&AC&AJC&AC&AC&AD&A@D&A|D&AD&AD&A4E&ArE&AE&AE&A$F&AbF&AF&AF&AG&AVG&AG&AG&AH&ALH&AH&AH&AI&A>I&AzI&AI&AI&A2J&ApJ&AJ&AJ&A(K&A`K&AK&AK&AL&ATL&AL&AL&A M&AJM&AM&AM&AN&A:N&AxN&AN&AN&A.O&AlO&AO&AO&A$P&A`P&AP&AP&AQ&ARQ&AQ&AQ&AR&AFR&AR&AR&AR&A:S&AxS&AS&AS&A.T&AjT&AT&AT&Aw2x&A!U&A:,&A!U7d.[History] Imported from 'D:\Work\Dropbox\FinancialEconometrics\Data\Excel\Formatted Excel Files\capm.xlsx'kk.HzG@@Q@\(\@Q@ ףp= @ ףp= @333333 @(\ @Gz @(\ @Q@333333@@Q@RQ@(\@Q@(\@p= ף@RQ@Q@@= ףp=@Q@Gz@{Gz@ ףp= @HzG@)\(@= ףp=@Gz@HzG@HzG@HzG@= ףp=@333333@)\(@ffffff@333333@RQ@ffffff@RQ@q= ףp@p= ף@Gz@p= ף@(\@(\@HzG@333333@Q@(\@(\@p= ף@(\@Gz @ ףp= @(\!@Q"@RQ#@33333$@{Gz$@ ףp= %@R$@zG%@p= #'@ffffff(@Gz)@L)@Q*@Gz*@R+@ףp= ,@(\-@{G+@ףp= ,@q= ףp-@ףp= W/@(\O1@Q1@(\3@Q2@p= c4@Gzn5@= ףp6@(\7@)\8@7@Q8@fffff7@ 8@zG!8@p= c7@Qx9@Q;@q= ף0=@= ףp}<@ףp= <@p= c<@Q:@p= <@L=@Hz?@@>@(\=@;@Hz=@zGaA@zG@@L@@fffff@@ףp= @@9@@Q?@(\"A@HzgA@HzA@Gzt@@ ףp= A@@@ffffffB@ףp= WA@(\µA@{G:B@fffffC@ ףp=C@ףp= C@{GC@B@QxB@GztB@q= ף0D@lD@\(D@{G:C@ףp= B@Q>B@p= CB@QkA@GzNB@(\/B@YC@)\D@RB@q= ףB@HzGC@RQA@(\@@(\B>@Gz?@\(@@Gz@@L@@Y@@Q@@ ףp=@@QA@zGaA@Q8A@`B@ףp= A@GzA@p= A@QD@QD@33333D@ ףp=D@(\E@Q~E@33333F@(\G@22x&A!U&A:,&A!U7d4[Description] share price of Exxon [History] Imported from 'D:\Work\Dropbox\FinancialEconometrics\Data\Excel\Formatted Excel Files\capm.xlsx'l5ףp= ? ףp= ? ףp= ???)\(?333333?{Gz??zG?\(\??RQ?\(\?(\?= ףp=?Q? ףp= ?zG?(\?\(\?zG??Q?q= ףp?HzG?RQ?ףp= ?zG?333333?(\?p= ף@Q@zG@{Gz@q= ףp@ףp= @RQ@ ףp= @(\ @Gz @333333 @Q @ףp= @)\(@@= ףp=@@@Q@ffffff@Q@Q@Q@@(\@(\@Q@333333@zG@Q@Q@Q@@(\@Q@zG@@ @!@L!@Q"@\(\"@Gz#@Q$@333333$@Qk$@ ףp= '@(@ףp= W*@R)@Q+@\(*@Q*@zG-@(\B0@1@3@ ףp= 1@(\2@(\1@\(\4@{Gz4@p= ף5@(\µ5@Y8@R8@̌7@Q9@Q9@Gz6@333336@= ףp=9@R:@{G=@R>@= ףp==@QK@@ ףp= ?@(\=@Q@@Gz4@@33333@@)\A@33333SD@QC@QeG@zGAD@(\D@\(G@\(G@GzH@@H@ףp= G@fffffJ@(\•J@Gz4I@ ףp=F@= ףpF@(\5E@33333sE@zGaC@QxF@(\F@(\F@Gz4D@C@{GZA@= ףp@@ףp= A@)\B@)\hA@zG!B@\(A@(\µ=@GzT=@Hz;@(\>@R<@Q7@8@zG9@)\h7@@6@(\O7@(\µ8@ ףp=<@R;@{G;@= ףp;@<@(\B=@Qx<@p= #<@\(>@= ףp@@ ףp=*@@ףp= W>@Q=@Gz>@333333@@@@22x&A!U&A:,&A!U7d;[Description] share price of General Electric [History] Imported from 'D:\Work\Dropbox\FinancialEconometrics\Data\Excel\Formatted Excel Files\capm.xlsx'<Hzdw@xqw@ڊv@/v@d@zwx@mMx@:Kw@vݰw@Hw@E>w@ ףp=v@v@ju@ߡ(Plv@9mv@s=v@))v@ Yv@҇.u@qZ|%u@{Gau@}"OOu@.9v@FB[Υju@iQUu@Ral!Ȃu@ ףpt@{,}t@(\t@+ٱt@\Z t@zrK^u@'fv@xq>w@vݰx@qZ|w@0.v@5av@G8-x`w@Pw@Q)x@{Gaw@dw<x@mw@Hzw@<x@6ُx@N ^tw@{x@4 Yx@Dx@4w@\wTw@Qw@G ^ׯw@{8nx@>"Dx@}"O9x@<,#x@tFw@/w@1|DL w@&Sx@_5x@ZGUy@L;Hy@5ax@(\x@)t^cx@3333x@%7w@\ Ac7x@fffffw@h㈵w@ڊw@E|'w@Vv@)\uu@r3܀u@E>u@ 7su@&:Hu@*T>t@Q@t@P1t@yEt@s@/r r@fffffr@{Gr@ r@(\Ds@r@cCEr@iMr@(\q@h㈵r@H~r@9mbr@٬:r@\(q@ ףp=q@R8_q@{Gq@sGq@{k`Up@Y8Ep@N ^ p@0p@:ks@U[Rr@G?q@ףp= q@(D!Խr@H`9q@m{q@ 2q@h㈵q@ r_q@CO}'q@`7lq@σp@WIp@33333p@Ral!ȗp@p= ]p@⪲opp@yǩGp@†Wq@Aȓ$p@5Up@҇.q@Qq@4Rq@DBq@[Ɏ=q@҇.q@Rwr@{G`r@&pr@33333s@ ^/t@2U0*s@C8ds@ػ?+s@s@ُs@ Yt@!'վMv@Qov@Hu@{Gt@R:v@Ev@]u@zG|v@ - w@ Fw@(\^x@Q1zy@߾y@\(Oy@"jy@\(4y@sFvw@σx@N ^tx@2x&A!U&A:,&A!U7d*B[Description] share price of Gold [History] Imported from 'D:\Work\Dropbox\FinancialEconometrics\Data\Excel\Formatted Excel Files\capm.xlsx'BzG%@333333)@Gz(@Qk'@ffffff&@ffffff'@333333'@)\(*@Q*@Gz.-@R.@(\B+@)\(@p= ף*@zGa(@Qk)@ ףp=)@RQ+@fffff)@)\)@Gz(@(\(@q= ףp)@(\u(@Gz*@ ףp= ,@= ףp=.@(\B-@= ףp=,@ףp= W*@%@(\'@Gz!@Gz"@Q#@p= ף"@R!@Q8$@Q"@(\!@q= ף!@(\u @ ףp= "@(\%@&@&@ ףp=%@= ףp=&@Qk'@Q*@ףp= W(@p= ף)@ףp= ,@RQ-@zGa/@333333.@zGa/@.@HzG0@Q1@Qx4@ףp= W4@= ףp4@(\7@R6@\(4@(\u5@ ףp=5@Q^4@q= ף08@Gz;@Q9@= ףp=8@GzT8@R6@8@)\h:@<@ ףp==@B@GzA@(\OB@(\@@Q+@@)\B@zGaD@p= CE@ ףp=H@G@RI@QKG@J@ףp= H@RqG@QH@(\H@QK@= ףpL@QxK@GzO@ ףp= K@{GN@p= Q@RS@333333V@q= ףV@Gz~T@(\eU@zGAY@(\\@ףp= G_@{Gj^@\(,^@(\O]@W@(\X@ ףp=*Z@ ףp=:[@33333X@Gz\@(\[@fffffZ@(\Z@I[@q= ף`@)\h[@)\W@)\V@fffffT@{GJ[@(\_X@ףp= wW@ףp= \@QN[@)\[@(\Y@RqX@QnV@QnZ@GzN\@Q]@QkZ@(\X@q= ףY@T@p= S@q= ףQ@\(LQ@(\R@ףp= L@pS@zGqU@GzS@ ףp=JS@GzDS@(\bS@\(T@U@= ףpmT@QT@)\XT@ ףp=U@p= 3V@zGV@ W@ ףp=X@fffffX@= ףpV@p= U@V@= ףpU@)\U@22x&A!U&A:,&A!U7dH[Description] share price of IBM [History] Imported from 'D:\Work\Dropbox\FinancialEconometrics\Data\Excel\Formatted Excel Files\capm.xlsx'5I??p= ף?Q?zG?Q?)\(?Gz?{Gz??Q?\(\?(\?)\(?ffffff?)\(?)\(?HzG?zG?@RQ@ףp= @RQ@Q@)\(@Q@HzG@@ffffff@Q@Q@ ףp= @Q@\(\@(\@zG@Q@zG@(\@RQ@(\@ffffff@(\@(\@Q@ ףp= @ffffff@(\@zG@(\ @Q @q= ףp @Q @(\ @Q@ ףp= @= ףp=@\(\ @Q@(\@333333@Q@RQ@\(\@ףp= @\(\@Q@Q@Gz@ףp= @ffffff@{Gz@@\(\@Gz@Q@HzG@L @(\ @zGa#@Qk$@333333)@(@)\&@Q.@p= ף.@Q8/@Qx1@GzT0@Y0@(\0@{Gz1@q= ף/@Gzn2@q= ף4@\(6@QE6@333334@Hz:@)\(;@333337@q= ף0;@)\(:@p= #>@(\"A@QE@QB@Q%F@ףp= D@(\C@)\HF@333333E@QF@`F@QF@Q~F@QL@Gz.H@GzF@@J@\(@p= C@@A@@A@=@p= A@Y<@q= ףp5@Q+>@)\(=@Hz;@= ףp@@QA@)\B@{GZ@@q= ף0<@ ףp=J9@= ףp<@{G?@Q^@@{Gz?@Gz<@=@R9@)\(9@Hz;@(\µ7@@8@\(5@Qk:@<@̌9@33333s7@7@8@Y9@ffffff8@Qk9@q= ף0:@ ףp=J:@(\;@(\:@zG9@ ףp=J;@R;@33333s:@\(8@ :@fffff&:@{Gz<@)\h<@22x&A!U&A:,&A!U7dQO[Description] share price of Microsoft [History] Imported from 'D:\Work\Dropbox\FinancialEconometrics\Data\Excel\Formatted Excel Files\capm.xlsx'OBA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA8BA82x&A!U&A:,&A!U7dUݓz?{Pkz?bz? F%uz?!my?I?)e?ZӼd?[SWd?Xۘ/f?iUlHg?qEi?lxz,Cl?lxz,Cl?Kj7m?0f*H\n? o?L7A`p?..xr?[s?ڹ{x}s?aAs?jMs?T Is?ݓZs?cdr?;^r?;Onr?/nr?/nr?'Kr?ޠIeq?ӯ!q??ܵ|p?KRp?L7A`p?/"q?㞶_q?#=d$q?Luj6p?#},n?{Pkj?7_jh?5g?gj+g?Ǻf?/nb?H}]?aY?úW?I +V?`͞W?~swpX?+\^{W?`͞W?+n5W?ǺV?_vOV?V?AV?gU? ^)P?]?P?qO?qO?͏CLN?͏CLN?ˑ7M?aIKI?~jtH?4C.aI? a] I?aIKI?a+eI?~jtH?ٜ.H?a+eI? a] I? a] I?_QK?A/VQ?+nF(R?2x&A!U&A:,&A!U7d[[Description] risk free rate of return [History] Imported from 'D:\Work\Dropbox\FinancialEconometrics\Data\Excel\Formatted Excel Files\capm.xlsx'K\zGڿQ= ףp=? = ףp= Q ףp= p= ף?p= ף?{Gz@ ףp= @\(\@(\? ףp= ׿Q?Q?Q?= ףp=?HzGffffffR @(\?HzG333333Q?ffffff(\ؿQ뱿= ףp=?Q@p= ף @= ףp=?@zG {Gz?ףp= @ףp= ӿQ?Q?zG@333333?RQ? ףp= ?Gz@{Gz333333)\(q= ףpݿp= ףQ?@\(\(\ſ{Gz?ףp= ӿףp= ӿRQؿ{Gz@\(\@HzG?)\((\333333= ףp=?Gz{Gz@?Q@(\ @333333 p= ף ffffff@HzG\(\ffffff ףp= @ףp= RQQտ(\333333@RQ?(\@q= ףp@333333Q)\(q= ףp?333333Q?ffffff ףp= Qףp=  ףp= ǿGz zG?ffffffֿ(\? ףp= {Gz @ @ @Q@ffffff @(\@HzG@p= ף@= ףp5@0(\(\+@GzQHzGq= ףp (\333333?Gz@{Gz?HzG?ףp= @ףp= @333333@ ףp= HzG@= ףp=?ffffff@Q?zGRQ@333333@(\ )\( @QHzGףp= @)\(q= ףp @(\Q?Gz׿{Gz?Q?ףp= @?Q@Q@Q?HzG@(\@zG@ ףp= (\?Gzp= ףGz@(\22x&A!U&A:,&A!U7dmb[Description] Fama-French size factor [History] Imported from 'D:\Work\Dropbox\FinancialEconometrics\Data\Excel\Formatted Excel Files\capm.xlsx'b̬t@Hzv@Q`v@fffffBv@)\(t@ s@s@Q#t@Qt@{G~u@Qv@Qsw@uw@zG]x@(\2w@)\٬?u?H.!?2%䃮?H.?Q?*:H?St$?Yڊ?|?5^?HP?ea?ܵ|У?:pΈ?Biޡ? -?J4?F%u?_vO?&?X5;N?L7A`?eX?d`T?"u?eX? rh?J4?ǘ?{?vq -?( 0?tF_?gj+?gj+?MSt$?MSt$?'?HPsׂ?;On?~jt?UN@?HPsׂ?Έ ?;On?/n?Έ ?UN@?UN@?ZӼ? F%u?]K=?42x&A!U&A:,&A!U7do[Description] U.S 3-month Treasury Bill rate [History] Imported from 'D:\Work\Dropbox\FinancialEconometrics\Data\Excel\Formatted Excel Files\capm.xlsx'p ףp= @Q@Q@ףp= @Q@q= ףp@ ףp= @Q@)\(@Q@@R @Gz!@Q"@p= ף"@(\$@p= #&@zG$@= ףp=$@zGa%@ףp= )@p= ף'@33333'@(\u'@Q'@\(\'@Hz'@Q(@HzG)@(\B*@Q+@Gz,@,@-@(\,@ףp= W,@zG'@zG(@{Gz'@33333&@'@Gz&@)\'@Q)@{Gz&@R'@)@RQ'@(\&@Gz.%@q= ף%@Q&@\(\&@Q8%@ףp= W%@Gz.%@\(\#@ףp= $@p= ף%@q= ףp'@Q%@(\&@(\(@q= ףp(@&@R&@q= ף#@Q8&@$@\("@Gz#@zGa%@333333&@(\(@Gz'@ffffff&@Q(@Q(@ףp= (@fffff'@Qk%@\(\&@R(@\(\*@*@= ףp=,@ 0@(\1@\(0@33333s1@Gz0@ףp= 3@\(2@Hz3@p= #6@Q^8@@8@q= ףp:@(\5=@\(\>@Q^<@ףp= W:@Q@@fffff&B@QC@QD@D@q= ףPF@p= CF@(\D@(\bG@yD@yE@33333G@RQK@(\K@HzP@GzJ@QG@ףp= wK@QJ@p= L@Q L@p= J@Gz.G@33333sG@\(F@lI@ ףp=I@(\µK@(\oH@QH@fffffFI@HzGI@G@YK@zGG@zGAH@(\/I@fffffK@\(