chapter08

PRICE AND RETURN DATA FOR WALMART (WMT)AND TARGET (TGT)雅虎公司s closing price adjusts for dividendsPrices ReturnsDate WMT TGT WMT TGT5-七月-01 26.07 37.401-八月-01 22.00 33.53 -16.97% -10.92%4-九月-01 20.07 30.73 -9.18% -8.72%1-十月-01 20.02 30.15 -0.25% -1.91%1-十一月-01 23.35 36.38 15.39% 18.78%3-十二月-01 24.79 39.79 5.98% 8.96%2-一月-02 23.03 43.04 -7.36% 7.85%4-二月-02 18.09 40.66 -24.14% -5.69%1-三月-02 19.17 41.85 5.80% 2.88%1-四月-02 20.25 42.36 5.48% 1.21%1-五月-02 22.79 40.29 11.82% -5.01%3-六月-02 20.52 37.03 -10.49% -8.44%1-七月-02 16.50 32.41 -21.80% -13.33%1-八月-02 16.27 33.30 -1.40% 2.71%3-九月-02 14.92 28.74 -8.66% -14.73%1-十月-02 18.01 29.32 18.82% 2.00%1-十一月-02 22.43 33.92 21.95% 14.57%2-十二月-02 21.75 29.26 -3.08% -14.78%2-一月-03 18.43 27.51 -16.56% -6.17%3-二月-03 18.87 28.00 2.36% 1.77%3-三月-03 18.67 28.60 -1.07% 2.12%1-四月-03 16.32 32.69 -13.45% 13.37%1-五月-03 16.57 35.87 1.52% 9.28%2-六月-03 16.12 37.05 -2.75% 3.24%1-七月-03 17.91 37.52 10.53% 1.26%1-八月-03 20.45 39.83 13.26% 5.97%2-九月-03 20.60 36.91 0.73% -7.61%1-十月-03 22.92 38.98 10.67% 5.46%3-十一月-03 24.12 38.05 5.10% -2.41%1-十二月-03 25.47 37.74 5.45% -0.82%2-一月-04 25.50 37.31 0.12% -1.15%2-二月-04 30.06 43.27 16.45% 14.82%1-三月-04 33.87 44.34 11.93% 2.44%1-四月-04 33.10 42.69 -2.30% -3.79%3-五月-04 34.97 44.08 5.50% 3.20%1-六月-04 36.91 41.88 5.40% -5.12%1-七月-04 39.23 42.99 6.10% 2.62%2-八月-04 37.58 44.04 -4.30% 2.41%1-九月-04 34.60 44.70 -8.26% 1.49%1-十月-04 34.04 49.41 -1.63% 10.02%1-十一月-04 37.99 50.68 10.98% 2.54%1-十二月-04 40.74 51.38 6.99% 1.37%3-一月-05 42.17 50.23 3.45% -2.26%1-二月-05 43.92 50.36 4.07% 0.26%A B C D E F12345678910111213141516171819202122232425262728293031323334353637383940414243444546471-三月-05 51.25 49.57 15.43% -1.58%1-四月-05 46.92 45.99 -8.83% -7.50%2-五月-05 49.25 53.30 4.85% 14.75%1-六月-05 52.04 54.00 5.51% 1.30%1-七月-05 55.69 58.31 6.78% 7.68%1-八月-05 48.24 53.45 -14.36% -8.70%1-九月-05 47.04 51.64 -2.52% -3.45%3-十月-05 50.93 55.37 7.95% 6.97%1-十一月-05 52.19 53.31 2.44% -3.79%1-十二月-05 55.31 54.76 5.81% 2.68%3-一月-06 55.63 54.54 0.58% -0.40%1-二月-06 58.46 54.29 4.96% -0.46%1-三月-06 60.23 51.90 2.98% -4.50%3-四月-06 65.46 52.99 8.33% 2.08%1-五月-06 60.84 48.92 -7.32% -7.99%1-六月-06 67.51 48.87 10.40% -0.10%3-七月-06 67.65 49.17 0.21% 0.61%WMT TGTMonthly mean 1.59% 0.46%Monthly variance 0.0093 0.0052Monthly standard deviation 9.63% 7.19%Annual mean 19.07% 5.47%Annual variance 0.1114 0.0620Annual standard deviation 33.37% 24.90%A B C D E F4849505152535455565758596061626364656667686970717273- =LN(C5/C4)- =LN(C6/C5)- =LN(C7/C6)PRICE AND RETURN DATA FOR WALMART (WMT)AND TARGET (TGT)雅虎公司s closing price adjusts for dividendsG1234567891011121314151617181920212223242526272829303132333435363738394041424344454647- =AVERAGE(F5:F64)- =VARP(F5:F64)- =STDEVP(F5:F64)- =12*F67- =12*F68- =SQRT(F72)G4849505152535455565758596061626364656667686970717273沃尔玛公司 (WMT) 和塔吉特公司 (TGT) 的价格及收益数据雅虎公司 股利调整后收盘价价格 收益日期 WMT TGT WMT TGT5-七月-01 26.07 37.401-八月-01 22.00 33.53 -16.97% -10.92%4-九月-01 20.07 30.73 -9.18% -8.72%1-十月-01 20.02 30.15 -0.25% -1.91%1-十一月-01 23.35 36.38 15.39% 18.78%3-十二月-01 24.79 39.79 5.98% 8.96%2-一月-02 23.03 43.04 -7.36% 7.85%4-二月-02 18.09 40.66 -24.14% -5.69%1-三月-02 19.17 41.85 5.80% 2.88%1-四月-02 20.25 42.36 5.48% 1.21%1-五月-02 22.79 40.29 11.82% -5.01%3-六月-02 20.52 37.03 -10.49% -8.44%3-十月-05 50.93 55.37 7.95% 6.97%1-十一月-05 52.19 53.31 2.44% -3.79%1-十二月-05 55.31 54.76 5.81% 2.68%3-一月-06 55.63 54.54 0.58% -0.40%1-二月-06 58.46 54.29 4.96% -0.46%1-三月-06 60.23 51.90 2.98% -4.50%3-四月-06 65.46 52.99 8.33% 2.08%1-五月-06 60.84 48.92 -7.32% -7.99%1-六月-06 67.51 48.87 10.40% -0.10%3-七月-06 67.65 49.17 0.21% 0.61%WMT TGT月平均值 1.59% 0.46%月方差 0.0093 0.0052月标准差 9.63% 7.19%年平均值 19.07% 5.47%年方差 0.1114 0.0620年标准差 33.37% 24.90%A B C D E F12345678910111213141555565758596061626364656667686970717273- =LN(C5/C4)- =LN(C6/C5)- =LN(C7/C6)- =AVERAGE(F5:F64)- =VARP(F5:F64)- =STDEVP(F5:F64)- =12*F67- =12*F68- =SQRT(F72)沃尔玛公司 (WMT) 和塔吉特公司 (TGT) 的价格及收益数据雅虎公司 股利调整后收盘价G12345678910111213141555565758596061626364656667686970717273UN-5BCOMPUTING THE COVARIANCE FOR WALMART (WMT) AND TARGET (TGT)Date WMT ReturnReturnminusmean TGT ReturnReturnminusmean Product5-七月-01 26.07 37.401-八月-01 22.00 -16.97% -18.56% 33.53 -10.92% -11.38% - =G4-$G$65 0.0211 - =D4*H44-九月-01 20.07 -9.18% -10.77% 30.73 -8.72% -9.18% 0.00991-十月-01 20.02 -0.25% -1.84% 30.15 -1.91% -2.36% 0.00041-十一月-01 23.35 15.39% 13.80% 36.38 18.78% 18.33% 0.02533-十二月-01 24.79 5.98% 4.40% 39.79 8.96% 8.50% 0.00372-一月-02 23.03 -7.36% -8.95% 43.04 7.85% 7.40% -0.00664-二月-02 18.09 -24.14% -25.73% 40.66 -5.69% -6.14% 0.01581-三月-02 19.17 5.80% 4.21% 41.85 2.88% 2.43% 0.00101-四月-02 20.25 5.48% 3.89% 42.36 1.21% 0.76% 0.00031-十一月-05 52.19 2.44% 0.85% 53.31 -3.79% -4.25% -0.00041-十二月-05 55.31 5.81% 4.22% 54.76 2.68% 2.23% 0.00093-一月-06 55.63 0.58% -1.01% 54.54 -0.40% -0.86% 0.00011-二月-06 58.46 4.96% 3.37% 54.29 -0.46% -0.92% -0.00031-三月-06 60.23 2.98% 1.39% 51.90 -4.50% -4.96% -0.00073-四月-06 65.46 8.33% 6.74% 52.99 2.08% 1.62% 0.00111-五月-06 60.84 -7.32% -8.91% 48.92 -7.99% -8.45% 0.00751-六月-06 67.51 10.40% 8.81% 48.87 -0.10% -0.56% -0.00053-七月-06 67.65 0.21% -1.38% 49.17 0.61% 0.16% 0.0000Average 1.59% - =AVERAGE(C4:C63) 0.46% Covariance 0.0038 - =AVERAGE(J4:J63)Standard deviation 9.63% - =STDEVP(D4:D63) 7.19% 0.0038 - =COVAR(D4:D63,H4:H63)Correlation 0.5484 - =J65/(C66*G66)0.5484 - =J65/(STDEVP(C4:C63)*STDEVP(G4:G63)0.5484 - =CORREL(C4:C63,G4:G63)A B C D E F G H I J K12345678910111255565758596061626364656667686970UN-5B协方差的计算：沃尔玛公司 (WMT) 和 塔吉特公司 (TGT) 日期 WMT 收益 收益减均值 TGT 收益收益减均值 乘积5-七月-01 26.07 37.401-八月-01 22.00 -16.97% -18.56% 33.53 -10.92% -11.38% - =G4-$G$65 0.0211 - =D4*H44-九月-01 20.07 -9.18% -10.77% 30.73 -8.72% -9.18% 0.00991-十月-01 20.02 -0.25% -1.84% 30.15 -1.91% -2.36% 0.00041-十一月-01 23.35 15.39% 13.80% 36.38 18.78% 18.33% 0.02533-十二月-01 24.79 5.98% 4.40% 39.79 8.96% 8.50% 0.00372-一月-02 23.03 -7.36% -8.95% 43.04 7.85% 7.40% -0.00664-二月-02 18.09 -24.14% -25.73% 40.66 -5.69% -6.14% 0.01581-三月-02 19.17 5.80% 4.21% 41.85 2.88% 2.43% 0.00101-四月-02 20.25 5.48% 3.89% 42.36 1.21% 0.76% 0.00031-十一月-05 52.19 2.44% 0.85% 53.31 -3.79% -4.25% -0.00041-十二月-05 55.31 5.81% 4.22% 54.76 2.68% 2.23% 0.00093-一月-06 55.63 0.58% -1.01% 54.54 -0.40% -0.86% 0.00011-二月-06 58.46 4.96% 3.37% 54.29 -0.46% -0.92% -0.00031-三月-06 60.23 2.98% 1.39% 51.90 -4.50% -4.96% -0.00073-四月-06 65.46 8.33% 6.74% 52.99 2.08% 1.62% 0.00111-五月-06 60.84 -7.32% -8.91% 48.92 -7.99% -8.45% 0.00751-六月-06 67.51 10.40% 8.81% 48.87 -0.10% -0.56% -0.00053-七月-06 67.65 0.21% -1.38% 49.17 0.61% 0.16% 0.0000均值 1.59% - =AVERAGE(C4:C63) 0.46% 协方差 0.0038 - =AVERAGE(J4:J63)标准差 9.63% - =STDEVP(D4:D63) 7.19% 0.0038 - =COVAR(D4:D63,H4:H63)相关系数 0.5484 - =J65/(C66*G66)0.5484 - =J65/(STDEVP(C4:C63)*STDEVP(G4:G63)0.5484 - =CORREL(C4:C63,G4:G63)A B C D E F G H I J K12345678910111255565758596061626364656667686970UN-5BCOMPUTING THE COVARIANCE FOR WALMART (WMT) AND TARGET (TGT)all percentages expressed as whole numbers: The Covariance grows by a factor of 10,000, but the correlation is unchangedDate WMT ReturnReturnminusmean TGT ReturnReturnminusmean Product5-七月-01 26.07 37.401-八月-01 22.00 -16.97 -18.56 33.53 -10.92 -11.38 - =G4-$G$65 211.24 - =D4*H44-九月-01 20.07 -9.18 -10.77 30.73 -8.72 -9.18 98.841-十月-01 20.02 -0.25 -1.84 30.15 -1.91 -2.36 4.341-十一月-01 23.35 15.39 13.80 36.38 18.78 18.33 252.873-十二月-01 24.79 5.98 4.40 39.79 8.96 8.50 37.372-一月-02 23.03 -7.36 -8.95 43.04 7.85 7.40 -66.224-二月-02 18.09 -24.14 -25.73 40.66 -5.69 -6.14 158.121-三月-02 19.17 5.80 4.21 41.85 2.88 2.43 10.221-四月-02 20.25 5.48 3.89 42.36 1.21 0.76 2.941-十一月-05 52.19 2.44 0.85 53.31 -3.79 -4.25 -3.631-十二月-05 55.31 5.81 4.22 54.76 2.68 2.23 9.393-一月-06 55.63 0.58 -1.01 54.54 -0.40 -0.86 0.871-二月-06 58.46 4.96 3.37 54.29 -0.46 -0.92 -3.091-三月-06 60.23 2.98 1.39 51.90 -4.50 -4.96 -6.913-四月-06 65.46 8.33 6.74 52.99 2.08 1.62 10.931-五月-06 60.84 -7.32 -8.91 48.92 -7.99 -8.45 75.261-六月-06 67.51 10.40 8.81 48.87 -0.10 -0.56 -4.923-七月-06 67.65 0.21 -1.38 49.17 0.61 0.16 -0.22Average 1.59 - =AVERAGE(C4:C63) 0.46 Covariance 37.9731 - =AVERAGE(J4:J63)Standard deviation 9.63 - =STDEVP(D4:D63) 7.19 37.9731 - =COVAR(D4:D63,H4:H63)Correlation 0.5484 - =J65/(C66*G66)0.5484 - =J65/(STDEVP(C4:C63)*STDEVP(G4:G63)0.5484 - =CORREL(C4:C63,G4:G63)= L N (B 6 3 /B 6 2 )*1 0 0A B C D E F G H I J K12345678910111255565758596061626364656667686970UN-5B协方差的计算：沃尔玛公司 (WMT) 和 塔吉特公司 (TGT)所有百分数去掉百分号: 协方差增加到10,000倍, 但相关系数保持不变日期 WMT 收益 收益减均值 TGT 收益 收益减均值 乘积5-七月-01 26.07 37.401-八月-01 22.00 -16.97 -18.56 33.53 -10.92 -11.38 - =G4-$G$65 211.24 - =D4*H44-九月-01 20.07 -9.18 -10.77 30.73 -8.72 -9.18 98.841-十月-01 20.02 -0.25 -1.84 30.15 -1.91 -2.36 4.341-十一月-01 23.35 15.39 13.80 36.38 18.78 18.33 252.873-十二月-01 24.79 5.98 4.40 39.79 8.96 8.50 37.372-一月-02 23.03 -7.36 -8.95 43.04 7.85 7.40 -66.224-二月-02 18.09 -24.14 -25.73 40.66 -5.69 -6.14 158.121-三月-02 19.17 5.80 4.21 41.85 2.88 2.43 10.221-四月-02 20.25 5.48 3.89 42.36 1.21 0.76 2.941-十一月-05 52.19 2.44 0.85 53.31 -3.79 -4.25 -3.631-十二月-05 55.31 5.81 4.22 54.76 2.68 2.23 9.393-一月-06 55.63 0.58 -1.01 54.54 -0.40 -0.86 0.871-二月-06 58.46 4.96 3.37 54.29 -0.46 -0.92 -3.091-三月-06 60.23 2.98 1.39 51.90 -4.50 -4.96 -6.913-四月-06 65.46 8.33 6.74 52.99 2.08 1.62 10.931-五月-06 60.84 -7.32 -8.91 48.92 -7.99 -8.45 75.261-六月-06 67.51 10.40 8.81 48.87 -0.10 -0.56 -4.923-七月-06 67.65 0.21 -1.38 49.17 0.61 0.16 -0.22均值 1.59 - =AVERAGE(C4:C63) 0.46 协方差 37.9731 - =AVERAGE(J4:J63)标准差 9.63 - =STDEVP(D4:D63) 7.19 37.9731 - =COVAR(D4:D63,H4:H63)相关系数 0.5484 - =J65/(C66*G66)0.5484 - =J65/(STDEVP(C4:C63)*STDEVP(G4:G63)0.5484 - =CORREL(C4:C63,G4:G63)= L N (B 6 3 /B 6 2 )*1 0 0A B C D E F G H I J K12345678910111255565758596061626364656667686970G ra p h in g W a lm a rt re tu rn s (x -a x is ) a n d T a rg e t R e tu rn s (y -a x is )T h e R 2 is th e C o rre la tio n 21 5 %1 0 %5 %0 %-5 %-1 0 %-1 5 %-2 0 %-2 5 %-1 2 %-7 %-2 %3 %8 %1 3 %1 8 %y = 0 .4 0 9 1 x - 0 .0 0 1 9R2= 0 .3 0 0 8W a lm a r tTarget沃 尔 玛 ( x轴 ) 和 塔 吉 特 ( y轴 ) 的 收 益R2 为 相 关 系 数 21 5 %1 0 %5 %0 %-5 %-1 0 %-1 5 %-2 0 %-2 5 %-1 2 %-7 %-2 %3 %8 %1 3 %1 8 %y = 0 .4 0 9 1 x - 0 .0 0 1 9R2= 0 .3 0 0 8W a lm a r tTargetCALCULATING THE MEAN AND STANDARD DEVIATION OF A PORTFOLIOProportion of WMT 0.5Proportion of TGT 0.5 - =1-B2WMTreturnTGTreturnPortfolioreturn1-八月-01 -16.97% -10.92% -13.95% - =$B$2*B6+$B$3*C64-九月-01 -9.18% -8.72% -8.95% - =$B$2*B7+$B$3*C71-十月-01 -0.25% -1.91% -1.08%1-十一月-01 15.39% 18.78% 17.08%3-十二月-01 5.98% 8.96% 7.47%2-一月-02 -7.36% 7.85% 0.24%4-二月-02 -24.14% -5.69% -14.92%1-三月-02 5.80% 2.88% 4.34%1-四月-02 5.48% 1.21% 3.35%1-五月-02 11.82% -5.01% 3.40%3-六月-02 -10.49% -8.44% -9.46%1-七月-02 -21.80% -13.33% -17.57%1-八月-02 -1.40% 2.71% 0.65%3-九月-02 -8.66% -14.73% -11.69%1-十月-02 18.82% 2.00% 10.41%1-十一月-02 21.95% 14.57% 18.26%2-十二月-02 -3.08% -14.78% -8.93%2-一月-03 -16.56% -6.17% -11.37%3-二月-03 2.36% 1.77% 2.06%3-三月-03 -1.07% 2.12% 0.53%1-四月-03 -13.45% 13.37% -0.04%1-五月-03 1.52% 9.28% 5.40%2-六月-03 -2.75% 3.24% 0.24%1-七月-03 10.53% 1.26% 5.90%1-八月-03 13.26% 5.97% 9.62%2-九月-03 0.73% -7.61% -3.44%1-十月-03 10.67% 5.46% 8.06%3-十一月-03 5.10% -2.41% 1.34%1-十二月-03 5.45% -0.82% 2.31%2-一月-04 0.12% -1.15% -0.51%2-二月-04 16.45% 14.82% 15.64%1-三月-04 11.93% 2.44% 7.19%1-四月-04 -2.30% -3.79% -3.05%3-五月-04 5.50% 3.20% 4.35%1-六月-04 5.40% -5.12% 0.14%1-七月-04 6.10% 2.62% 4.36%2-八月-04 -4.30% 2.41% -0.94%1-九月-04 -8.26% 1.49% -3.39%1-十月-04 -1.63% 10.02% 4.19%1-十一月-04 10.98% 2.54% 6.76%1-十二月-04 6.99% 1.37% 4.18%3-一月-05 3.45% -2.26% 0.59%1-二月-05 4.07% 0.26% 2.16%1-三月-05 15.43% -1.58% 6.93%A B C D E F123456789101112131415161718192021222324252627282930313233343536373839404142434445464748491-四月-05 -8.83% -7.50% -8.16%2-五月-05 4.85% 14.75% 9.80%1-六月-05 5.51% 1.30% 3.41%1-七月-05 6.78% 7.68% 7.23%1-八月-05 -14.36% -8.70% -11.53%1-九月-05 -2.52% -3.45% -2.98%3-十月-05 7.95% 6.97% 7.46%1-十一月-05 2.44% -3.79% -0.67%1-十二月-05 5.81% 2.68% 4.24%3-一月-06 0.58% -0.40% 0.09%1-二月-06 4.96% -0.46% 2.25%1-三月-06 2.98% -4.50% -0.76%3-四月-06 8.33% 2.08% 5.20%1-五月-06 -7.32% -7.99% -7.66%1-六月-06 10.40% -0.10% 5.15%3-七月-06 0.21% 0.61% 0.41%A B C D E F50515253545556575859606162636465Asset returns WMT TGTMean return 1.59% 0.46% - =AVERAGE(C6:C65)Variance 0.0093 0.0052 - =VARP(C6:C65)Standard deviation 9.63% 7.19% - =SQRT(I8)Covariance 0.0038 - =COVAR(B6:B65,C6:C65)Portfolio mean return1.02% - =AVERAGE(D6:D65)1.02% - =B2*H7+B3*I7Portfolio return variance0.0055 - =VARP(D6:D65)0.0055 - =B22*H8+B32*I8+2*B2*B3*H10Portfolio return standard deviation 7.42% - =STDEVP(D6:D65)CALCULATING THE MEAN AND STANDARD DEVIATION OF A PORTFOLIOG H I J12345678910111213141516171819202122232425262728293031323334353637383940414243444546474849投资组合的均值和标准差的计算WMT所占比例 0.5TGT所占比例 0.5 - =1-B2WMT收益TGT收益投资组合收益1-八月-01 -16.97% -10.92% -13.95% - =$B$2*B6+$B$3*C64-九月-01 -9.18% -8.72% -8.95% - =$B$2*B7+$B$3*C71-十月-01 -0.25% -1.91% -1.08%1-十一月-01 15.39% 18.78% 17.08%3-十二月-01 5.98% 8.96% 7.47%2-一月-02 -7.36% 7.85% 0.24%4-二月-02 -24.14% -5.69% -14.92%1-三月-02 5.80% 2.88% 4.34%1-四月-02 5.48% 1.21% 3.35%1-五月-02 11.82% -5.01% 3.40%3-六月-02 -10.49% -8.44% -9.46%1-七月-02 -21.80% -13.33% -17.57%1-八月-02 -1.40% 2.71% 0.65%3-九月-02 -8.66% -14.73% -11.69%1-十月-02 18.82% 2.00% 10.41%1-十一月-02 21.95% 14.57% 18.26%2-十二月-02 -3.08% -14.78% -8.93%2-一月-03 -16.56% -6.17% -11.37%3-二月-03 2.36% 1.77% 2.06%3-三月-03 -1.07% 2.12% 0.53%1-四月-03 -13.45% 13.37% -0.04%1-五月-03 1.52% 9.28% 5.40%2-六月-03 -2.75% 3.24% 0.24%1-七月-03 10.53% 1.26% 5.90%1-八月-03 13.26% 5.97% 9.62%2-九月-03 0.73% -7.61% -3.44%1-十月-03 10.67% 5.46% 8.06%3-十一月-03 5.10% -2.41% 1.34%1-十二月-03 5.45% -0.82% 2.31%2-一月-04 0.12% -1.15% -0.51%2-二月-04 16.45% 14.82% 15.64%1-三月-04 11.93% 2.44% 7.19%1-四月-04 -2.30% -3.79% -3.05%3-五月-04 5.50% 3.20% 4.35%1-六月-04 5.40% -5.12% 0.14%1-七月-04 6.10% 2.62% 4.36%2-八月-04 -4.30% 2.41% -0.94%1-九月-04 -8.26% 1.49% -3.39%1-十月-04 -1.63% 10.02% 4.19%1-十一月-04 10.98% 2.54% 6.76%1-十二月-04 6.99% 1.37% 4.18%3-一月-05 3.45% -2.26% 0.59%1-二月-05 4.07% 0.26% 2.16%1-三月-05 15.43% -1.58% 6.93%A B C D E F123456789101112131415161718192021222324252627282930313233343536373839404142434445464748491-四月-05 -8.83% -7.50% -8.16%2-五月-05 4.85% 14.75% 9.80%1-六月-05 5.51% 1.30% 3.41%1-七月-05 6.78% 7.68% 7.23%1-八月-05 -14.36% -8.70% -11.53%1-九月-05 -2.52% -3.45% -2.98%3-十月-05 7.95% 6.97% 7.46%1-十一月-05 2.44% -3.79% -0.67%1-十二月-05 5.81% 2.68% 4.24%3-一月-06 0.58% -0.40% 0.09%1-二月-06 4.96% -0.46% 2.25%1-三月-06 2.98% -4.50% -0.76%3-四月-06 8.33% 2.08% 5.20%1-五月-06 -7.32% -7.99% -7.66%1-六月-06 10.40% -0.10% 5.15%3-七月-06 0.21% 0.61% 0.41%A B C D E F50515253545556575859606162636465资产收益 WMT TGT平均收益 1.59% 0.46% - =AVERAGE(C6:C65)方差 0.0093 0.0052 - =VARP(C6:C65)标准差 9.63% 7.19% - =SQRT(I8)协方差 0.0038 - =COVAR(B6:B65,C6:C65)资产组合平均收益1.02% - =AVERAGE(D6:D65)1.02% - =B2*H7+B3*I7资产组合收益的方差0.0055 - =VARP(D6:D65)0.0055 - =B22*H8+B32*I8+2