{"text_format":"1","workbook":"xlsx","n_sheets":14,"sheets":["Page 307","Page 308","Page 310","Page 311","Page 312","Page 314","Page 316","Pages 317-18","Page 318, galleys","Page 321","Page 322","Page 323","Page 324","Page 325"],"not_rendered":{"charts":0,"images":0,"macros":1,"external_links":0,"defined_names":2,"comments":0,"pivot_tables":0},"unopened":[],"bounds":{"document_bytes":16777216,"sheet_cells":100000,"rows_first":2000,"rows_last":500,"rows_between":2000,"halvings":0,"cell_chars":16384,"cell_head_chars":4096},"cells_cut":0,"cells_raw":0,"read":"whole","date_system":"1900"}

{"sheet":"Page 307","index":0,"n_rows":67,"n_cols":12,"rows_kept":67,"cut":false,"hidden":false,"merged":[[0,0,0,11]]}
["PRICE AND MARKET CAP DATA FOR 10 COMPANIES"]
[null,"General Motors\nGM","Home Depot\nHD","International Paper\nIP","Hewlett-Packard\nHPQ","Altria\nMO","American Express\nAXP","Alcoa Aluminum\nAA","DuPont\nDD","Merck\nMRK","MMM"]
["Market capitalization \n(billion $)",16.850000000000001,73.98,15.92,88.37,153.33000000000001,65.66,28.16,38.32,79.510000000000005,60.9]
["Benchmark proportion",{"$f":"B3/SUM($B$3:$K$3)","v":2.7133655394524961E-2},{"$f":"C3/SUM($B$3:$K$3)","v":0.11913043478260871},2.5636070853462159E-2,0.14230273752012884,0.2469082125603865,{"$f":"G3/SUM($B$3:$K$3)","v":0.10573268921095008},4.5346215780998393E-2,6.1706924315619971E-2,0.1280354267310789,9.8067632850241546E-2,{"$f":"getformula(K4)","v":"<--  =K3/SUM($B$3:$K$3)"}]
[]
["Monthly price data (includes dividends)"]
["2001-06-01",50.31,45.26,31.22,26.47,38.74,32.47,36.06,40.880000000000003,50.74,51.56]
["2001-07-02",49.72,48.26,35.64,22.83,35.61,33.82,35.369999999999997,36.29,53.98,50.55]
["2001-08-01",43.14,44.06,35.32,21.48,37.1,30.54,34.5,35.01,51.96,47.3]
["2001-09-04",33.81,36.79,30.66,14.92,37.79,24.37,28.06,32.07,53.16,44.71]
["2001-10-01",32.56,36.659999999999997,31.5,15.65,36.630000000000003,24.75,29.34,34.18,50.93,47.43]
["2001-11-01",39.630000000000003,44.78,35.369999999999997,20.45,36.92,27.68,35.090000000000003,38.21,54.07,52.33]
["2001-12-03",38.75,48.97,35.729999999999997,19.170000000000002,36.340000000000003,30.02,32.32,36.630000000000003,47.18,53.99]
["2002-01-02",40.770000000000003,48.09,36.99,20.64,39.71,30.22,32.590000000000003,38.06,47.48,50.7]
["2002-02-01",42.67,48,38.96,18.78,41.73,30.72,34.31,40.68,49.21,54.16]
["2002-03-01",48.69,46.71,38.299999999999997,16.809999999999999,42.21,34.520000000000003,34.47,40.950000000000003,46.46,52.81]
["2002-04-01",51.67,44.56,36.9,16.02,43.62,34.64,31.08,38.65,43.85,57.77]
["2002-05-01",50.43,40.06,38.6,17.89,45.88,35.9,32.090000000000003,40.270000000000003,46.07,57.88]
["2002-06-03",43.37,35.340000000000003,39.03,14.38,35.44,30.68,30.41,38.86,41.12,56.76]
["2002-07-01",37.770000000000003,29.71,35.67,13.32,37.369999999999997,29.84,24.96,36.69,40.28,58.07]
["2002-08-01",39.28,31.69,33.950000000000003,12.64,40.57,30.52,23.15,35.58,41.03,57.94]
["2002-09-03",31.93,25.15,30.11,11.05,31.91,26.39,17.809999999999999,31.84,37.4,50.99]
["2002-10-01",27.29,27.83,31.49,14.96,33.51,30.86,20.350000000000001,36.409999999999997,44.38,58.86]
["2002-11-01",33.06,25.44,35.64,18.45,31.02,33.03,23.72,39.71,48.61,60.5]
["2002-12-02",30.7,23.2,31.75,16.510000000000002,33.86,30.06,21.15,37.74,46.61,57.45]
["2003-01-02",30.26,20.190000000000001,32.42,16.559999999999999,31.64,30.21,18.36,33.71,45.6,58.03]
["2003-02-03",28.52,22.65,32.03,15.08,32.29,28.56,19.18,32.950000000000003,43.43,58.72]
["2003-03-03",28.39,23.59,30.91,14.87,25.48,28.26,18.14,34.92,45.42,60.91]
["2003-04-01",30.45,27.24,32.69,15.58,26.16,32.270000000000003,21.6,38.22,48.23,59.04]
["2003-05-01",30.26,31.47,33.76,18.64,35.119999999999997,35.51,23.18,38.18,46.08,59.55]
["2003-06-02",30.83,32.14,32.9,20.440000000000001,39.22,35.64,24.02,37.72,50.52,60.74]
["2003-07-01",32.049999999999997,30.27,36.020000000000003,20.32,34.53,37.74,26.16,39.81,46.12,66.02]
["2003-08-01",35.67,31.2,37.56,19.13,35.57,38.49,27.06,40.86,44.36,67.400000000000006]
["2003-09-02",35.520000000000003,30.97,36.15,18.649999999999999,38.43,38.5,24.78,36.54,44.95,65.349999999999994]
["2003-10-01",37.03,36.049999999999997,36.450000000000003,21.5,40.799999999999997,40.19,29.91,36.9,39.29,74.62]
["2003-11-03",37.57,35.75,34.71,20.95,45.62,39.14,31.23,38.19,36.049999999999997,75.099999999999994]
["2003-12-01",46.89,34.58,40.21,22.21,48.36,41.39,36.17,42.27,41.39,80.790000000000006]
["2004-01-02",43.63,34.56,39.43,23,49.4,44.49,32.53,40.44,42.64,75.150000000000006]
["2004-02-02",42.69,35.380000000000003,41.52,21.96,51.14,45.84,35.82,41.86,43.07,74.47]
["2004-03-01",41.92,36.47,39.64,22.16,48.95,44.58,33.159999999999997,39.200000000000003,39.9,78.14]
["2004-04-01",42.07,34.35,37.82,19.12,49.79,42.09,29.4,39.880000000000003,42.43,82.54]
["2004-05-03",40.72,35.06,39.58,20.61,43.13,43.59,30.07,40.450000000000003,42.7,81.06]
["2004-06-01",41.8,34.44,42.19,20.55,45.64,44.26,31.73,41.59,43.21,86.28]
["2004-07-01",38.700000000000003,32.99,40.81,19.63,43.4,43.29,30.77,40.14,41.26,78.95]
["2004-08-02",37.51,35.85,38,17.43,44.63,43.09,31.25,39.9,40.909999999999997,79.31]
["2004-09-01",38.57,38.44,38.369999999999997,18.34,43.53,44.33,32.42,40.409999999999997,30.28,77.010000000000005]
["2004-10-01",35,40.29,36.57,18.25,44.84,45.82,31.37,40.479999999999997,28.73,74.7]
["2004-11-01",35.5,41.03,39.67,19.57,53.2,48.1,32.950000000000003,43.13,25.71,76.98]
["2004-12-01",36.85,42,40.130000000000003,20.59,57.22,48.67,30.46,46.68,29.89,79.38]
["2005-01-03",33.86,40.54,37.409999999999997,19.239999999999998,59.78,46.16,28.62,45.26,26.09,81.599999999999994]
["2005-02-01",33.229999999999997,39.33,35.93,20.43,61.48,46.86,31.31,51.08,29.49,81.599999999999994]
["2005-03-01",27.4,37.67,35.39,21.63,61.93,44.56,29.62,49.1,30.47,83.3]
["2005-04-01",24.87,34.840000000000003,32.99,20.18,61.55,45.71,28.29,45.14,31.91,74.34]
["2005-05-02",29.88,38.76,31.23,22.2,63.59,46.71,26.55,44.92,30.53,74.92]
["2005-06-01",32.22,38.42,29.29,23.26,61.89,46.27,25.6,41.54,29.33,70.67]
["2005-07-01",34.89,42.97,30.63,24.36,64.09,47.81,27.48,41.22,29.58,73.31]
["2005-08-01",32.86,39.92,30.15,27.47,67.67,48.02,26.38,38.549999999999997,27.25,69.959999999999994]
["2005-09-01",29.42,37.76,29.12,28.97,71.34,49.93,24.05,38.159999999999997,26.27,72.13]
["2005-10-03",26.33,40.630000000000003,28.52,27.82,72.64,49.54,23.92,40.619999999999997,27.24,74.7]
["2005-11-01",21.44,41.46,31.07,29.44,70.45,51.19,27.16,42.02,28.75,77.569999999999993]
["2005-12-01",19.010000000000002,40.17,33.119999999999997,28.48,73.08,51.23,29.3,41.77,31.1,76.599999999999994]
["2006-01-03",23.56,40.24,32.15,31.02,70.75,52.33,31.21,38.479999999999997,33.729999999999997,71.91]
["2006-02-01",20.11,41.83,32.53,32.64,70.319999999999993,53.76,29.19,39.909999999999997,34.090000000000003,73.2]
["2006-03-01",21.06,42.13,34.32,32.81,70.06,52.43,30.43,41.87,34.83,75.290000000000006]
["2006-04-03",22.66,39.770000000000003,36.090000000000003,32.380000000000003,72.34,53.81,33.630000000000003,43.74,34.03,84.98]
["2006-05-01",26.93,37.97,33.979999999999997,32.29,71.540000000000006,54.36,31.72,42.53,33.29,83.66]
["2006-06-01",29.79,35.79,32.299999999999997,31.68,73.430000000000007,53.22,32.36,41.6,36.43,80.77]

{"sheet":"Page 308","index":1,"n_rows":69,"n_cols":13,"rows_kept":69,"cut":false,"hidden":false,"merged":[[0,0,0,10]]}
["RETURN DATA FOR THE SUPER-DUPER BENCHMARK PORTFOLIO"]
[null,"General Motors\nGM","Home Depot\nHD","International Paper\nIP","Hewlett-Packard\nHPQ","Altria\nMO","American Express\nAXP","Alcoa Aluminum\nAA","DuPont\nDD","Merck\nMRK","MMM","3month T-bill,\nmonthly"]
["Market cap (billion $)",16.850000000000001,73.98,15.92,88.37,153.33000000000001,65.66,28.16,38.32,79.510000000000005,60.9]
["Benchmark proportion",{"$f":"B3/SUM($B$3:$K$3)","v":2.7133655394524961E-2},0.11913043478260871,2.5636070853462159E-2,0.14230273752012884,0.2469082125603865,0.10573268921095008,4.5346215780998393E-2,6.1706924315619971E-2,0.1280354267310789,9.8067632850241546E-2]
[]
["Mean return",{"$f":"AVERAGE(B10:B69)","v":-8.7338516296339343E-3},-3.912585257124279E-3,5.6680525235541432E-4,2.9945591784535926E-3,1.0657665224744494E-2,8.2352946572464818E-3,-1.8043520930813397E-3,2.9098702286280479E-4,-5.5220323858443934E-3,7.4809905230536237E-3,{"$f":"AVERAGE(L10:L69)","v":{"$error":"#REF!"}},{"$f":"getformula(L6)","v":"<--  =AVERAGE(L10:L69)"}]
["Return sigma",{"$f":"STDEVP(B10:B69)","v":0.1078459820081009},8.409336866723402E-2,6.2332673442510929E-2,0.10804776551035467,8.708088772267801E-2,6.4300566754148969E-2,9.5436731071418715E-2,6.1245872475255668E-2,8.0624541353884208E-2,5.5357268068069863E-2,{"$f":"STDEVP(L10:L69)","v":{"$error":"#REF!"}},{"$f":"getformula(L7)","v":"<--  =STDEVP(L10:L69)"}]
[]
["Date","GM","HD","IP","HPQ","MO","AXP","AA","DD","MRK","MMM","3month T-bill,\nmonthly"]
[{"$f":"'Page 307'!A8","v":"2001-07-02"},{"$f":"LN('Page 307'!B8/'Page 307'!B7)","v":-1.1796597860716827E-2},{"$f":"LN('Page 307'!C8/'Page 307'!C7)","v":6.4179419991494263E-2},{"$f":"LN('Page 307'!D8/'Page 307'!D7)","v":0.13240968751532264},{"$f":"LN('Page 307'!E8/'Page 307'!E7)","v":-0.14793655569730582},{"$f":"LN('Page 307'!F8/'Page 307'!F7)","v":-8.4246160689163574E-2},{"$f":"LN('Page 307'!G8/'Page 307'!G7)","v":4.0735757355679775E-2},{"$f":"LN('Page 307'!H8/'Page 307'!H7)","v":-1.9320214557782059E-2},{"$f":"LN('Page 307'!I8/'Page 307'!I7)","v":-0.11909872467047006},{"$f":"LN('Page 307'!J8/'Page 307'!J7)","v":6.1899053418722663E-2},{"$f":"LN('Page 307'!K8/'Page 307'!K7)","v":-1.9783232604506363E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A9","v":"2001-08-01"},{"$f":"LN('Page 307'!B9/'Page 307'!B8)","v":-0.14195662568150003},{"$f":"LN('Page 307'!C9/'Page 307'!C8)","v":-9.1050718822688559E-2},{"$f":"LN('Page 307'!D9/'Page 307'!D8)","v":-9.0192268668492556E-3},{"$f":"LN('Page 307'!E9/'Page 307'!E8)","v":-6.0953190901040094E-2},{"$f":"LN('Page 307'!F9/'Page 307'!F8)","v":4.0990472323703141E-2},{"$f":"LN('Page 307'!G9/'Page 307'!G8)","v":-0.10201504367994793},{"$f":"LN('Page 307'!H9/'Page 307'!H8)","v":-2.4904679180075117E-2},{"$f":"LN('Page 307'!I9/'Page 307'!I8)","v":-3.5908486258404655E-2},{"$f":"LN('Page 307'!J9/'Page 307'!J8)","v":-3.8139415787459788E-2},{"$f":"LN('Page 307'!K9/'Page 307'!K8)","v":-6.645264996859318E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A10","v":"2001-09-04"},{"$f":"LN('Page 307'!B10/'Page 307'!B9)","v":-0.24369402424121561},{"$f":"LN('Page 307'!C10/'Page 307'!C9)","v":-0.18032627225751421},{"$f":"LN('Page 307'!D10/'Page 307'!D9)","v":-0.14149050229209117},{"$f":"LN('Page 307'!E10/'Page 307'!E9)","v":-0.36441967486504917},{"$f":"LN('Page 307'!F10/'Page 307'!F9)","v":1.8427547748008123E-2},{"$f":"LN('Page 307'!G10/'Page 307'!G9)","v":-0.2256844321533715},{"$f":"LN('Page 307'!H10/'Page 307'!H9)","v":-0.2066142493629993},{"$f":"LN('Page 307'!I10/'Page 307'!I9)","v":-8.7712721261510654E-2},{"$f":"LN('Page 307'!J10/'Page 307'!J9)","v":2.2832042042645689E-2},{"$f":"LN('Page 307'!K10/'Page 307'!K9)","v":-5.6313105251997946E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A11","v":"2001-10-01"},{"$f":"LN('Page 307'!B11/'Page 307'!B10)","v":-3.7672075585455093E-2},{"$f":"LN('Page 307'!C11/'Page 307'!C10)","v":-3.5398267051240623E-3},{"$f":"LN('Page 307'!D11/'Page 307'!D10)","v":2.70286723879192E-2},{"$f":"LN('Page 307'!E11/'Page 307'!E10)","v":4.7768322210547512E-2},{"$f":"LN('Page 307'!F11/'Page 307'!F10)","v":-3.1176940570674497E-2},{"$f":"LN('Page 307'!G11/'Page 307'!G10)","v":1.5472621377584426E-2},{"$f":"LN('Page 307'!H11/'Page 307'!H10)","v":4.4606698040520781E-2},{"$f":"LN('Page 307'!I11/'Page 307'!I10)","v":6.3719663982381269E-2},{"$f":"LN('Page 307'!J11/'Page 307'!J10)","v":-4.2854092948531319E-2},{"$f":"LN('Page 307'!K11/'Page 307'!K10)","v":5.9057749643601151E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A12","v":"2001-11-01"},{"$f":"LN('Page 307'!B12/'Page 307'!B11)","v":0.19650186606800416},{"$f":"LN('Page 307'!C12/'Page 307'!C11)","v":0.20007536875904985},{"$f":"LN('Page 307'!D12/'Page 307'!D11)","v":0.1158764573858018},{"$f":"LN('Page 307'!E12/'Page 307'!E11)","v":0.2675119655026485},{"$f":"LN('Page 307'!F12/'Page 307'!F11)","v":7.8858328439283774E-3},{"$f":"LN('Page 307'!G12/'Page 307'!G11)","v":0.1118846417347696},{"$f":"LN('Page 307'!H12/'Page 307'!H11)","v":0.17896441688028816},{"$f":"LN('Page 307'!I12/'Page 307'!I11)","v":0.11145658377136383},{"$f":"LN('Page 307'!J12/'Page 307'!J11)","v":5.9827362497400234E-2},{"$f":"LN('Page 307'!K12/'Page 307'!K11)","v":9.8314880494626E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A13","v":"2001-12-03"},{"$f":"LN('Page 307'!B13/'Page 307'!B12)","v":-2.2455651402987761E-2},{"$f":"LN('Page 307'!C13/'Page 307'!C12)","v":8.9446254543617196E-2},{"$f":"LN('Page 307'!D13/'Page 307'!D12)","v":1.0126668817929268E-2},{"$f":"LN('Page 307'!E13/'Page 307'!E12)","v":-6.4636325431257524E-2},{"$f":"LN('Page 307'!F13/'Page 307'!F12)","v":-1.5834346666626219E-2},{"$f":"LN('Page 307'!G13/'Page 307'!G12)","v":8.115369545584715E-2},{"$f":"LN('Page 307'!H13/'Page 307'!H12)","v":-8.2229955942229177E-2},{"$f":"LN('Page 307'!I13/'Page 307'!I12)","v":-4.2229684668085556E-2},{"$f":"LN('Page 307'!J13/'Page 307'!J12)","v":-0.13630942941438459},{"$f":"LN('Page 307'!K13/'Page 307'!K12)","v":3.1229023846079226E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A14","v":"2002-01-02"},{"$f":"LN('Page 307'!B14/'Page 307'!B13)","v":5.0815761031806052E-2},{"$f":"LN('Page 307'!C14/'Page 307'!C13)","v":-1.8133610424654605E-2},{"$f":"LN('Page 307'!D14/'Page 307'!D13)","v":3.4656933809044402E-2},{"$f":"LN('Page 307'!E14/'Page 307'!E13)","v":7.3884383555808855E-2},{"$f":"LN('Page 307'!F14/'Page 307'!F13)","v":8.8683982175134984E-2},{"$f":"LN('Page 307'!G14/'Page 307'!G13)","v":6.6401306392775573E-3},{"$f":"LN('Page 307'!H14/'Page 307'!H13)","v":8.3192591965755795E-3},{"$f":"LN('Page 307'!I14/'Page 307'!I13)","v":3.8296285077280327E-2},{"$f":"LN('Page 307'!J14/'Page 307'!J13)","v":6.3384957619382039E-3},{"$f":"LN('Page 307'!K14/'Page 307'!K13)","v":-6.2872933633058056E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A15","v":"2002-02-01"},{"$f":"LN('Page 307'!B15/'Page 307'!B14)","v":4.5549580368746484E-2},{"$f":"LN('Page 307'!C15/'Page 307'!C14)","v":-1.8732443816804475E-3},{"$f":"LN('Page 307'!D15/'Page 307'!D14)","v":5.1887872929971726E-2},{"$f":"LN('Page 307'!E15/'Page 307'!E14)","v":-9.4438466833245069E-2},{"$f":"LN('Page 307'!F15/'Page 307'!F14)","v":4.9617249460301077E-2},{"$f":"LN('Page 307'!G15/'Page 307'!G14)","v":1.6409951434877855E-2},{"$f":"LN('Page 307'!H15/'Page 307'!H14)","v":5.1431364020888035E-2},{"$f":"LN('Page 307'!I15/'Page 307'!I14)","v":6.6572709312355663E-2},{"$f":"LN('Page 307'!J15/'Page 307'!J14)","v":3.5788285136419642E-2},{"$f":"LN('Page 307'!K15/'Page 307'!K14)","v":6.6016718006881941E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A16","v":"2002-03-01"},{"$f":"LN('Page 307'!B16/'Page 307'!B15)","v":0.13197757299470086},{"$f":"LN('Page 307'!C16/'Page 307'!C15)","v":-2.7242736393874256E-2},{"$f":"LN('Page 307'!D16/'Page 307'!D15)","v":-1.7085582587734117E-2},{"$f":"LN('Page 307'!E16/'Page 307'!E15)","v":-0.11081852635959275},{"$f":"LN('Page 307'!F16/'Page 307'!F15)","v":1.1436865190946199E-2},{"$f":"LN('Page 307'!G16/'Page 307'!G15)","v":0.11662495793575585},{"$f":"LN('Page 307'!H16/'Page 307'!H15)","v":4.6525236584155066E-3},{"$f":"LN('Page 307'!I16/'Page 307'!I15)","v":6.6152391187194043E-3},{"$f":"LN('Page 307'!J16/'Page 307'!J15)","v":-5.7505127535623791E-2},{"$f":"LN('Page 307'!K16/'Page 307'!K15)","v":-2.5242061885177698E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A17","v":"2002-04-01"},{"$f":"LN('Page 307'!B17/'Page 307'!B16)","v":5.9403672104483787E-2},{"$f":"LN('Page 307'!C17/'Page 307'!C16)","v":-4.7121678894988021E-2},{"$f":"LN('Page 307'!D17/'Page 307'!D16)","v":-3.7238345140118763E-2},{"$f":"LN('Page 307'!E17/'Page 307'!E16)","v":-4.8136005780311027E-2},{"$f":"LN('Page 307'!F17/'Page 307'!F16)","v":3.2858600979075607E-2},{"$f":"LN('Page 307'!G17/'Page 307'!G16)","v":3.4702174790071237E-3},{"$f":"LN('Page 307'!H17/'Page 307'!H16)","v":-0.10352485502932729},{"$f":"LN('Page 307'!I17/'Page 307'!I16)","v":-5.7805035265647606E-2},{"$f":"LN('Page 307'!J17/'Page 307'!J16)","v":-5.7817008524070991E-2},{"$f":"LN('Page 307'!K17/'Page 307'!K16)","v":8.9769043074332422E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A18","v":"2002-05-01"},{"$f":"LN('Page 307'!B18/'Page 307'!B17)","v":-2.4291106210459393E-2},{"$f":"LN('Page 307'!C18/'Page 307'!C17)","v":-0.10645826538135635},{"$f":"LN('Page 307'!D18/'Page 307'!D17)","v":4.5040725424303811E-2},{"$f":"LN('Page 307'!E18/'Page 307'!E17)","v":0.11040395588041478},{"$f":"LN('Page 307'!F18/'Page 307'!F17)","v":5.0513531487687044E-2},{"$f":"LN('Page 307'!G18/'Page 307'!G17)","v":3.5728211799998744E-2},{"$f":"LN('Page 307'!H18/'Page 307'!H17)","v":3.1979929622318874E-2},{"$f":"LN('Page 307'!I18/'Page 307'!I17)","v":4.1059999829931984E-2},{"$f":"LN('Page 307'!J18/'Page 307'!J17)","v":4.9387260129633438E-2},{"$f":"LN('Page 307'!K18/'Page 307'!K17)","v":1.9022919701089634E-3},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A19","v":"2002-06-03"},{"$f":"LN('Page 307'!B19/'Page 307'!B18)","v":-0.15081827824135915},{"$f":"LN('Page 307'!C19/'Page 307'!C18)","v":-0.12536286334612179},{"$f":"LN('Page 307'!D19/'Page 307'!D18)","v":1.1078304721738328E-2},{"$f":"LN('Page 307'!E19/'Page 307'!E18)","v":-0.21840354522772715},{"$f":"LN('Page 307'!F19/'Page 307'!F18)","v":-0.25818816652428989},{"$f":"LN('Page 307'!G19/'Page 307'!G18)","v":-0.15712631899517768},{"$f":"LN('Page 307'!H19/'Page 307'!H18)","v":-5.3772953432492283E-2},{"$f":"LN('Page 307'!I19/'Page 307'!I18)","v":-3.5641330914068861E-2},{"$f":"LN('Page 307'!J19/'Page 307'!J18)","v":-0.11366735780091598},{"$f":"LN('Page 307'!K19/'Page 307'!K18)","v":-1.9540049471441244E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A20","v":"2002-07-01"},{"$f":"LN('Page 307'!B20/'Page 307'!B19)","v":-0.13825282112290918},{"$f":"LN('Page 307'!C20/'Page 307'!C19)","v":-0.17353177741703407},{"$f":"LN('Page 307'!D20/'Page 307'!D19)","v":-9.0020581821723469E-2},{"$f":"LN('Page 307'!E20/'Page 307'!E19)","v":-7.6571687180657641E-2},{"$f":"LN('Page 307'!F20/'Page 307'!F19)","v":5.3027117760512429E-2},{"$f":"LN('Page 307'!G20/'Page 307'!G19)","v":-2.7761201163495279E-2},{"$f":"LN('Page 307'!H20/'Page 307'!H19)","v":-0.19749695818804633},{"$f":"LN('Page 307'!I20/'Page 307'!I19)","v":-5.7461205582103388E-2},{"$f":"LN('Page 307'!J20/'Page 307'!J19)","v":-2.0639553296548048E-2},{"$f":"LN('Page 307'!K20/'Page 307'!K19)","v":2.2817327092116615E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A21","v":"2002-08-01"},{"$f":"LN('Page 307'!B21/'Page 307'!B20)","v":3.9200346761899596E-2},{"$f":"LN('Page 307'!C21/'Page 307'!C20)","v":6.4517484228313049E-2},{"$f":"LN('Page 307'!D21/'Page 307'!D20)","v":-4.9421145366095001E-2},{"$f":"LN('Page 307'!E21/'Page 307'!E20)","v":-5.2400276393531675E-2},{"$f":"LN('Page 307'!F21/'Page 307'!F20)","v":8.2160633720963452E-2},{"$f":"LN('Page 307'!G21/'Page 307'!G20)","v":2.253243108069606E-2},{"$f":"LN('Page 307'!H21/'Page 307'!H20)","v":-7.5279762968983976E-2},{"$f":"LN('Page 307'!I21/'Page 307'!I20)","v":-3.0720556129501569E-2},{"$f":"LN('Page 307'!J21/'Page 307'!J20)","v":1.8448438603733165E-2},{"$f":"LN('Page 307'!K21/'Page 307'!K20)","v":-2.2411870427542419E-3},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A22","v":"2002-09-03"},{"$f":"LN('Page 307'!B22/'Page 307'!B21)","v":-0.20716947675957453},{"$f":"LN('Page 307'!C22/'Page 307'!C21)","v":-0.23114327715708133},{"$f":"LN('Page 307'!D22/'Page 307'!D21)","v":-0.12003151151106271},{"$f":"LN('Page 307'!E22/'Page 307'!E21)","v":-0.13443596075494954},{"$f":"LN('Page 307'!F22/'Page 307'!F21)","v":-0.24010943692820372},{"$f":"LN('Page 307'!G22/'Page 307'!G21)","v":-0.14539705590102359},{"$f":"LN('Page 307'!H22/'Page 307'!H21)","v":-0.26223468323067284},{"$f":"LN('Page 307'!I22/'Page 307'!I21)","v":-0.11106032126150675},{"$f":"LN('Page 307'!J22/'Page 307'!J21)","v":-9.2632802033608533E-2},{"$f":"LN('Page 307'!K22/'Page 307'!K21)","v":-0.12777845727413992},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A23","v":"2002-10-01"},{"$f":"LN('Page 307'!B23/'Page 307'!B22)","v":-0.15702567200644355},{"$f":"LN('Page 307'!C23/'Page 307'!C22)","v":0.10125667899205118},{"$f":"LN('Page 307'!D23/'Page 307'!D22)","v":4.4812692619290689E-2},{"$f":"LN('Page 307'!E23/'Page 307'!E22)","v":0.3029495445825694},{"$f":"LN('Page 307'!F23/'Page 307'!F22)","v":4.8924461459066891E-2},{"$f":"LN('Page 307'!G23/'Page 307'!G22)","v":0.15647569641978207},{"$f":"LN('Page 307'!H23/'Page 307'!H22)","v":0.13332081458703388},{"$f":"LN('Page 307'!I23/'Page 307'!I22)","v":0.13412010121115972},{"$f":"LN('Page 307'!J23/'Page 307'!J22)","v":0.17111821308396172},{"$f":"LN('Page 307'!K23/'Page 307'!K22)","v":0.14353220773826222},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A24","v":"2002-11-01"},{"$f":"LN('Page 307'!B24/'Page 307'!B23)","v":0.19180375767263116},{"$f":"LN('Page 307'!C24/'Page 307'!C23)","v":-8.97918370658779E-2},{"$f":"LN('Page 307'!D24/'Page 307'!D23)","v":0.12379856748967527},{"$f":"LN('Page 307'!E24/'Page 307'!E23)","v":0.20968439794020491},{"$f":"LN('Page 307'!F24/'Page 307'!F23)","v":-7.7211744000826268E-2},{"$f":"LN('Page 307'!G24/'Page 307'!G23)","v":6.7955392467683576E-2},{"$f":"LN('Page 307'!H24/'Page 307'!H23)","v":0.15323766224092053},{"$f":"LN('Page 307'!I24/'Page 307'!I23)","v":8.6759582955818135E-2},{"$f":"LN('Page 307'!J24/'Page 307'!J23)","v":9.1040353552916189E-2},{"$f":"LN('Page 307'!K24/'Page 307'!K23)","v":2.748162223146906E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A25","v":"2002-12-02"},{"$f":"LN('Page 307'!B25/'Page 307'!B24)","v":-7.4061437799726737E-2},{"$f":"LN('Page 307'!C25/'Page 307'!C24)","v":-9.2170459799657226E-2},{"$f":"LN('Page 307'!D25/'Page 307'!D24)","v":-0.11557587726390794},{"$f":"LN('Page 307'!E25/'Page 307'!E24)","v":-0.11109811255449942},{"$f":"LN('Page 307'!F25/'Page 307'!F24)","v":8.7602218956596464E-2},{"$f":"LN('Page 307'!G25/'Page 307'!G24)","v":-9.4220855077869967E-2},{"$f":"LN('Page 307'!H25/'Page 307'!H24)","v":-0.11467866863723777},{"$f":"LN('Page 307'!I25/'Page 307'!I24)","v":-5.0882505202755855E-2},{"$f":"LN('Page 307'!J25/'Page 307'!J24)","v":-4.2014160672714566E-2},{"$f":"LN('Page 307'!K25/'Page 307'!K24)","v":-5.1728360742031007E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A26","v":"2003-01-02"},{"$f":"LN('Page 307'!B26/'Page 307'!B25)","v":-1.443594623294148E-2},{"$f":"LN('Page 307'!C26/'Page 307'!C25)","v":-0.1389648463475181},{"$f":"LN('Page 307'!D26/'Page 307'!D25)","v":2.0882790968829369E-2},{"$f":"LN('Page 307'!E26/'Page 307'!E25)","v":3.0238910250769192E-3},{"$f":"LN('Page 307'!F26/'Page 307'!F25)","v":-6.7812233805536068E-2},{"$f":"LN('Page 307'!G26/'Page 307'!G25)","v":4.9776110737522064E-3},{"$f":"LN('Page 307'!H26/'Page 307'!H25)","v":-0.14146552029994253},{"$f":"LN('Page 307'!I26/'Page 307'!I25)","v":-0.11292601069443486},{"$f":"LN('Page 307'!J26/'Page 307'!J25)","v":-2.1907393864309101E-2},{"$f":"LN('Page 307'!K26/'Page 307'!K25)","v":1.0045113907752113E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A27","v":"2003-02-03"},{"$f":"LN('Page 307'!B27/'Page 307'!B26)","v":-5.9221112814114754E-2},{"$f":"LN('Page 307'!C27/'Page 307'!C26)","v":0.11497241960429672},{"$f":"LN('Page 307'!D27/'Page 307'!D26)","v":-1.2102552686463255E-2},{"$f":"LN('Page 307'!E27/'Page 307'!E26)","v":-9.3620786377303575E-2},{"$f":"LN('Page 307'!F27/'Page 307'!F26)","v":2.0335441870730667E-2},{"$f":"LN('Page 307'!G27/'Page 307'!G26)","v":-5.6165857927197062E-2},{"$f":"LN('Page 307'!H27/'Page 307'!H26)","v":4.3693684262947743E-2},{"$f":"LN('Page 307'!I27/'Page 307'!I26)","v":-2.2803268297453029E-2},{"$f":"LN('Page 307'!J27/'Page 307'!J26)","v":-4.8757269973609955E-2},{"$f":"LN('Page 307'!K27/'Page 307'!K26)","v":1.1820266103743152E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A28","v":"2003-03-03"},{"$f":"LN('Page 307'!B28/'Page 307'!B27)","v":-4.5686250612152913E-3},{"$f":"LN('Page 307'!C28/'Page 307'!C27)","v":4.0663041490540751E-2},{"$f":"LN('Page 307'!D28/'Page 307'!D27)","v":-3.5593207477041901E-2},{"$f":"LN('Page 307'!E28/'Page 307'!E27)","v":-1.4023602107746367E-2},{"$f":"LN('Page 307'!F28/'Page 307'!F27)","v":-0.23686375406622115},{"$f":"LN('Page 307'!G28/'Page 307'!G27)","v":-1.0559760215002106E-2},{"$f":"LN('Page 307'!H28/'Page 307'!H27)","v":-5.5748624768301544E-2},{"$f":"LN('Page 307'!I28/'Page 307'!I27)","v":5.8068470022885253E-2},{"$f":"LN('Page 307'!J28/'Page 307'!J27)","v":4.4802090130681892E-2},{"$f":"LN('Page 307'!K28/'Page 307'!K27)","v":3.6616980542133158E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A29","v":"2003-04-01"},{"$f":"LN('Page 307'!B29/'Page 307'!B28)","v":7.0049023671026195E-2},{"$f":"LN('Page 307'!C29/'Page 307'!C28)","v":0.14386358786172787},{"$f":"LN('Page 307'!D29/'Page 307'!D28)","v":5.5989464592094307E-2},{"$f":"LN('Page 307'!E29/'Page 307'!E28)","v":4.6642279970538637E-2},{"$f":"LN('Page 307'!F29/'Page 307'!F28)","v":2.6337695885035418E-2},{"$f":"LN('Page 307'!G29/'Page 307'!G28)","v":0.13269062880748922},{"$f":"LN('Page 307'!H29/'Page 307'!H28)","v":0.17457387000312879},{"$f":"LN('Page 307'!I29/'Page 307'!I28)","v":9.0299207840725426E-2},{"$f":"LN('Page 307'!J29/'Page 307'!J28)","v":6.0028697403467925E-2},{"$f":"LN('Page 307'!K29/'Page 307'!K28)","v":-3.1182184556176201E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A30","v":"2003-05-01"},{"$f":"LN('Page 307'!B30/'Page 307'!B29)","v":-6.2592857956961399E-3},{"$f":"LN('Page 307'!C30/'Page 307'!C29)","v":0.14434822979500392},{"$f":"LN('Page 307'!D30/'Page 307'!D29)","v":3.2207448991637175E-2},{"$f":"LN('Page 307'!E30/'Page 307'!E29)","v":0.17932176881484305},{"$f":"LN('Page 307'!F30/'Page 307'!F29)","v":0.29453924217791788},{"$f":"LN('Page 307'!G30/'Page 307'!G29)","v":9.5676340891126005E-2},{"$f":"LN('Page 307'!H30/'Page 307'!H29)","v":7.0596523221486157E-2},{"$f":"LN('Page 307'!I30/'Page 307'!I29)","v":-1.047120514525356E-3},{"$f":"LN('Page 307'!J30/'Page 307'!J29)","v":-4.5602217693244643E-2},{"$f":"LN('Page 307'!K30/'Page 307'!K29)","v":8.6011155090919712E-3},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A31","v":"2003-06-02"},{"$f":"LN('Page 307'!B31/'Page 307'!B30)","v":1.8661533537849079E-2},{"$f":"LN('Page 307'!C31/'Page 307'!C30)","v":2.1066649233051005E-2},{"$f":"LN('Page 307'!D31/'Page 307'!D30)","v":-2.5804011956430128E-2},{"$f":"LN('Page 307'!E31/'Page 307'!E30)","v":9.2183956078058613E-2},{"$f":"LN('Page 307'!F31/'Page 307'!F30)","v":0.11041605200128428},{"$f":"LN('Page 307'!G31/'Page 307'!G30)","v":3.654255647612212E-3},{"$f":"LN('Page 307'!H31/'Page 307'!H30)","v":3.5596978740231759E-2},{"$f":"LN('Page 307'!I31/'Page 307'!I30)","v":-1.212136053234485E-2},{"$f":"LN('Page 307'!J31/'Page 307'!J30)","v":9.1990281094654625E-2},{"$f":"LN('Page 307'!K31/'Page 307'!K30)","v":1.9786163816293573E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A32","v":"2003-07-01"},{"$f":"LN('Page 307'!B32/'Page 307'!B31)","v":3.8808941468620115E-2},{"$f":"LN('Page 307'!C32/'Page 307'!C31)","v":-5.9944237275739262E-2},{"$f":"LN('Page 307'!D32/'Page 307'!D31)","v":9.0601681976483966E-2},{"$f":"LN('Page 307'!E32/'Page 307'!E31)","v":-5.8881426252225975E-3},{"$f":"LN('Page 307'!F32/'Page 307'!F31)","v":-0.12735830936629924},{"$f":"LN('Page 307'!G32/'Page 307'!G31)","v":5.7251937337795711E-2},{"$f":"LN('Page 307'!H32/'Page 307'!H31)","v":8.5344709937160576E-2},{"$f":"LN('Page 307'!I32/'Page 307'!I31)","v":5.392767924696916E-2},{"$f":"LN('Page 307'!J32/'Page 307'!J31)","v":-9.1122602081432233E-2},{"$f":"LN('Page 307'!K32/'Page 307'!K31)","v":8.3355266807444053E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A33","v":"2003-08-01"},{"$f":"LN('Page 307'!B33/'Page 307'!B32)","v":0.10701281600412117},{"$f":"LN('Page 307'!C33/'Page 307'!C32)","v":3.0260971781809479E-2},{"$f":"LN('Page 307'!D33/'Page 307'!D32)","v":4.1865314592252102E-2},{"$f":"LN('Page 307'!E33/'Page 307'!E32)","v":-6.0347839258119644E-2},{"$f":"LN('Page 307'!F33/'Page 307'!F32)","v":2.9674074558462916E-2},{"$f":"LN('Page 307'!G33/'Page 307'!G32)","v":1.9677927355250688E-2},{"$f":"LN('Page 307'!H33/'Page 307'!H32)","v":3.3825096153643881E-2},{"$f":"LN('Page 307'!I33/'Page 307'!I32)","v":2.6033452377250046E-2},{"$f":"LN('Page 307'!J33/'Page 307'!J32)","v":-3.8908532918691993E-2},{"$f":"LN('Page 307'!K33/'Page 307'!K32)","v":2.0687291493214577E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A34","v":"2003-09-02"},{"$f":"LN('Page 307'!B34/'Page 307'!B33)","v":-4.2140812468307665E-3},{"$f":"LN('Page 307'!C34/'Page 307'!C33)","v":-7.3991008303252196E-3},{"$f":"LN('Page 307'!D34/'Page 307'!D33)","v":-3.8262705735288539E-2},{"$f":"LN('Page 307'!E34/'Page 307'!E33)","v":-2.5411637362336956E-2},{"$f":"LN('Page 307'!F34/'Page 307'!F33)","v":7.7335818616388816E-2},{"$f":"LN('Page 307'!G34/'Page 307'!G33)","v":2.5977399808370356E-4},{"$f":"LN('Page 307'!H34/'Page 307'!H33)","v":-8.8019746541645447E-2},{"$f":"LN('Page 307'!I34/'Page 307'!I33)","v":-0.11174403843961539},{"$f":"LN('Page 307'!J34/'Page 307'!J33)","v":1.321259843546308E-2},{"$f":"LN('Page 307'!K34/'Page 307'!K33)","v":-3.0887577848030593E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A35","v":"2003-10-01"},{"$f":"LN('Page 307'!B35/'Page 307'!B34)","v":4.1632476801552E-2},{"$f":"LN('Page 307'!C35/'Page 307'!C34)","v":0.15188786974584667},{"$f":"LN('Page 307'!D35/'Page 307'!D34)","v":8.2645098498936517E-3},{"$f":"LN('Page 307'!E35/'Page 307'!E34)","v":0.14220678904379266},{"$f":"LN('Page 307'!F35/'Page 307'!F34)","v":5.98436768333633E-2},{"$f":"LN('Page 307'!G35/'Page 307'!G34)","v":4.2959967167371181E-2},{"$f":"LN('Page 307'!H35/'Page 307'!H34)","v":0.18815599644086031},{"$f":"LN('Page 307'!I35/'Page 307'!I34)","v":9.8040000966208348E-3},{"$f":"LN('Page 307'!J35/'Page 307'!J34)","v":-0.13458072734726104},{"$f":"LN('Page 307'!K35/'Page 307'!K34)","v":0.1326511277227809},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A36","v":"2003-11-03"},{"$f":"LN('Page 307'!B36/'Page 307'!B35)","v":1.4477464660356284E-2},{"$f":"LN('Page 307'!C36/'Page 307'!C35)","v":-8.3565945909413047E-3},{"$f":"LN('Page 307'!D36/'Page 307'!D35)","v":-4.8913628580972354E-2},{"$f":"LN('Page 307'!E36/'Page 307'!E35)","v":-2.5914288765470354E-2},{"$f":"LN('Page 307'!F36/'Page 307'!F35)","v":0.11166413544612598},{"$f":"LN('Page 307'!G36/'Page 307'!G35)","v":-2.6473246493179468E-2},{"$f":"LN('Page 307'!H36/'Page 307'!H35)","v":4.3186298653130631E-2},{"$f":"LN('Page 307'!I36/'Page 307'!I35)","v":3.4362150190943297E-2},{"$f":"LN('Page 307'!J36/'Page 307'!J35)","v":-8.6063169839410369E-2},{"$f":"LN('Page 307'!K36/'Page 307'!K35)","v":6.4119909770771703E-3},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A37","v":"2003-12-01"},{"$f":"LN('Page 307'!B37/'Page 307'!B36)","v":0.22159857351561749},{"$f":"LN('Page 307'!C37/'Page 307'!C36)","v":-3.3274788884872321E-2},{"$f":"LN('Page 307'!D37/'Page 307'!D36)","v":0.14708789103548778},{"$f":"LN('Page 307'!E37/'Page 307'!E36)","v":5.8403991538189343E-2},{"$f":"LN('Page 307'!F37/'Page 307'!F36)","v":5.8326808890349982E-2},{"$f":"LN('Page 307'!G37/'Page 307'!G36)","v":5.5894343792710806E-2},{"$f":"LN('Page 307'!H37/'Page 307'!H36)","v":0.1468508746690195},{"$f":"LN('Page 307'!I37/'Page 307'!I36)","v":0.10150391334127384},{"$f":"LN('Page 307'!J37/'Page 307'!J36)","v":0.13813244202968306},{"$f":"LN('Page 307'!K37/'Page 307'!K36)","v":7.3032636721528266E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A38","v":"2004-01-02"},{"$f":"LN('Page 307'!B38/'Page 307'!B37)","v":-7.2059445965976701E-2},{"$f":"LN('Page 307'!C38/'Page 307'!C37)","v":-5.7853631928948075E-4},{"$f":"LN('Page 307'!D38/'Page 307'!D37)","v":-1.9588773019646882E-2},{"$f":"LN('Page 307'!E38/'Page 307'!E37)","v":3.4951578022813505E-2},{"$f":"LN('Page 307'!F38/'Page 307'!F37)","v":2.1277398447284879E-2},{"$f":"LN('Page 307'!G38/'Page 307'!G37)","v":7.2225139057309498E-2},{"$f":"LN('Page 307'!H38/'Page 307'!H37)","v":-0.10606730547874653},{"$f":"LN('Page 307'!I38/'Page 307'!I37)","v":-4.4258220426428019E-2},{"$f":"LN('Page 307'!J38/'Page 307'!J37)","v":2.9753474096948125E-2},{"$f":"LN('Page 307'!K38/'Page 307'!K37)","v":-7.2367079292633765E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A39","v":"2004-02-02"},{"$f":"LN('Page 307'!B39/'Page 307'!B38)","v":-2.1780286365647616E-2},{"$f":"LN('Page 307'!C39/'Page 307'!C38)","v":2.3449744795784353E-2},{"$f":"LN('Page 307'!D39/'Page 307'!D38)","v":5.1648290968097574E-2},{"$f":"LN('Page 307'!E39/'Page 307'!E38)","v":-4.6271599287819744E-2},{"$f":"LN('Page 307'!F39/'Page 307'!F38)","v":3.4616545669163876E-2},{"$f":"LN('Page 307'!G39/'Page 307'!G38)","v":2.9892627588533782E-2},{"$f":"LN('Page 307'!H39/'Page 307'!H38)","v":9.634365614730557E-2},{"$f":"LN('Page 307'!I39/'Page 307'!I38)","v":3.4511322865583019E-2},{"$f":"LN('Page 307'!J39/'Page 307'!J38)","v":1.0033919208430145E-2},{"$f":"LN('Page 307'!K39/'Page 307'!K38)","v":-9.0897564764294558E-3},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A40","v":"2004-03-01"},{"$f":"LN('Page 307'!B40/'Page 307'!B39)","v":-1.8201660757083821E-2},{"$f":"LN('Page 307'!C40/'Page 307'!C39)","v":3.03433160889496E-2},{"$f":"LN('Page 307'!D40/'Page 307'!D39)","v":-4.6336529395846038E-2},{"$f":"LN('Page 307'!E40/'Page 307'!E39)","v":9.0662452377530418E-3},{"$f":"LN('Page 307'!F40/'Page 307'!F39)","v":-4.3767600886521159E-2},{"$f":"LN('Page 307'!G40/'Page 307'!G39)","v":-2.7871744448761455E-2},{"$f":"LN('Page 307'!H40/'Page 307'!H39)","v":-7.7162066365471571E-2},{"$f":"LN('Page 307'!I40/'Page 307'!I39)","v":-6.5653970221436778E-2},{"$f":"LN('Page 307'!J40/'Page 307'!J39)","v":-7.6450375170201493E-2},{"$f":"LN('Page 307'!K40/'Page 307'!K39)","v":4.8105729904370467E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A41","v":"2004-04-01"},{"$f":"LN('Page 307'!B41/'Page 307'!B40)","v":3.5718575896427612E-3},{"$f":"LN('Page 307'!C41/'Page 307'!C40)","v":-5.9887986152230469E-2},{"$f":"LN('Page 307'!D41/'Page 307'!D40)","v":-4.7000646231475811E-2},{"$f":"LN('Page 307'!E41/'Page 307'!E40)","v":-0.14755395425582776},{"$f":"LN('Page 307'!F41/'Page 307'!F40)","v":1.7014791677571944E-2},{"$f":"LN('Page 307'!G41/'Page 307'!G40)","v":-5.7475145175243408E-2},{"$f":"LN('Page 307'!H41/'Page 307'!H40)","v":-0.12034965592245828},{"$f":"LN('Page 307'!I41/'Page 307'!I40)","v":1.7198198297220822E-2},{"$f":"LN('Page 307'!J41/'Page 307'!J40)","v":6.1479335318415811E-2},{"$f":"LN('Page 307'!K41/'Page 307'!K40)","v":5.4780934697511344E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A42","v":"2004-05-03"},{"$f":"LN('Page 307'!B42/'Page 307'!B41)","v":-3.2615525360162281E-2},{"$f":"LN('Page 307'!C42/'Page 307'!C41)","v":2.0458860824730089E-2},{"$f":"LN('Page 307'!D42/'Page 307'!D41)","v":4.5485876944108189E-2},{"$f":"LN('Page 307'!E42/'Page 307'!E41)","v":7.5041487279112279E-2},{"$f":"LN('Page 307'!F42/'Page 307'!F41)","v":-0.14359534999433954},{"$f":"LN('Page 307'!G42/'Page 307'!G41)","v":3.5017583467822043E-2},{"$f":"LN('Page 307'!H42/'Page 307'!H41)","v":2.2533322655801786E-2},{"$f":"LN('Page 307'!I42/'Page 307'!I41)","v":1.4191698410863171E-2},{"$f":"LN('Page 307'!J42/'Page 307'!J41)","v":6.3432610203455345E-3},{"$f":"LN('Page 307'!K42/'Page 307'!K41)","v":-1.809340312427337E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A43","v":"2004-06-01"},{"$f":"LN('Page 307'!B43/'Page 307'!B42)","v":2.6176967288443334E-2},{"$f":"LN('Page 307'!C43/'Page 307'!C42)","v":-1.7842199933558494E-2},{"$f":"LN('Page 307'!D43/'Page 307'!D42)","v":6.3859285961827647E-2},{"$f":"LN('Page 307'!E43/'Page 307'!E42)","v":-2.9154539601240195E-3},{"$f":"LN('Page 307'!F43/'Page 307'!F42)","v":5.656571433412301E-2},{"$f":"LN('Page 307'!G43/'Page 307'!G42)","v":1.5253568372602168E-2},{"$f":"LN('Page 307'!H43/'Page 307'!H42)","v":5.3734608594666534E-2},{"$f":"LN('Page 307'!I43/'Page 307'!I42)","v":2.7793110250319549E-2},{"$f":"LN('Page 307'!J43/'Page 307'!J42)","v":1.1873029709262878E-2},{"$f":"LN('Page 307'!K43/'Page 307'!K42)","v":6.2408200320793056E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A44","v":"2004-07-01"},{"$f":"LN('Page 307'!B44/'Page 307'!B43)","v":-7.705673949497438E-2},{"$f":"LN('Page 307'!C44/'Page 307'!C43)","v":-4.3014194319039925E-2},{"$f":"LN('Page 307'!D44/'Page 307'!D43)","v":-3.3256076718532868E-2},{"$f":"LN('Page 307'!E44/'Page 307'!E43)","v":-4.5801932653874042E-2},{"$f":"LN('Page 307'!F44/'Page 307'!F43)","v":-5.0325083887515769E-2},{"$f":"LN('Page 307'!G44/'Page 307'!G43)","v":-2.215967316901438E-2},{"$f":"LN('Page 307'!H44/'Page 307'!H43)","v":-3.0722416261153792E-2},{"$f":"LN('Page 307'!I44/'Page 307'!I43)","v":-3.548641038662833E-2},{"$f":"LN('Page 307'!J44/'Page 307'!J43)","v":-4.6178442300736068E-2},{"$f":"LN('Page 307'!K44/'Page 307'!K43)","v":-8.8783080819304527E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A45","v":"2004-08-02"},{"$f":"LN('Page 307'!B45/'Page 307'!B44)","v":-3.1232035941940295E-2},{"$f":"LN('Page 307'!C45/'Page 307'!C44)","v":8.3139081805139362E-2},{"$f":"LN('Page 307'!D45/'Page 307'!D44)","v":-7.1340989691328641E-2},{"$f":"LN('Page 307'!E45/'Page 307'!E44)","v":-0.11886614875644017},{"$f":"LN('Page 307'!F45/'Page 307'!F44)","v":2.7946837534819531E-2},{"$f":"LN('Page 307'!G45/'Page 307'!G44)","v":-4.6307098261424984E-3},{"$f":"LN('Page 307'!H45/'Page 307'!H44)","v":1.5479186848460032E-2},{"$f":"LN('Page 307'!I45/'Page 307'!I44)","v":-5.9970194723744019E-3},{"$f":"LN('Page 307'!J45/'Page 307'!J44)","v":-8.5189757017985705E-3},{"$f":"LN('Page 307'!K45/'Page 307'!K44)","v":4.549483393577248E-3},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A46","v":"2004-09-01"},{"$f":"LN('Page 307'!B46/'Page 307'!B45)","v":2.7867208126340609E-2},{"$f":"LN('Page 307'!C46/'Page 307'!C45)","v":6.9755017056462379E-2},{"$f":"LN('Page 307'!D46/'Page 307'!D45)","v":9.6897445324751318E-3},{"$f":"LN('Page 307'!E46/'Page 307'!E45)","v":5.0891607296389224E-2},{"$f":"LN('Page 307'!F46/'Page 307'!F45)","v":-2.4955923076972433E-2},{"$f":"LN('Page 307'!G46/'Page 307'!G45)","v":2.8370697129215351E-2},{"$f":"LN('Page 307'!H46/'Page 307'!H45)","v":3.6756140125119671E-2},{"$f":"LN('Page 307'!I46/'Page 307'!I45)","v":1.2700955194564387E-2},{"$f":"LN('Page 307'!J46/'Page 307'!J45)","v":-0.30088710337205904},{"$f":"LN('Page 307'!K46/'Page 307'!K45)","v":-2.9428940544069474E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A47","v":"2004-10-01"},{"$f":"LN('Page 307'!B47/'Page 307'!B46)","v":-9.7126710730722793E-2},{"$f":"LN('Page 307'!C47/'Page 307'!C46)","v":4.7004715101164184E-2},{"$f":"LN('Page 307'!D47/'Page 307'!D46)","v":-4.8047672097571097E-2},{"$f":"LN('Page 307'!E47/'Page 307'!E46)","v":-4.9193867998182173E-3},{"$f":"LN('Page 307'!F47/'Page 307'!F46)","v":2.9650242639753112E-2},{"$f":"LN('Page 307'!G47/'Page 307'!G46)","v":3.305902826838731E-2},{"$f":"LN('Page 307'!H47/'Page 307'!H46)","v":-3.2923494104943316E-2},{"$f":"LN('Page 307'!I47/'Page 307'!I46)","v":1.7307458888278151E-3},{"$f":"LN('Page 307'!J47/'Page 307'!J46)","v":-5.2545555578049831E-2},{"$f":"LN('Page 307'!K47/'Page 307'!K46)","v":-3.0455191412387114E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A48","v":"2004-11-01"},{"$f":"LN('Page 307'!B48/'Page 307'!B47)","v":1.4184634991956381E-2},{"$f":"LN('Page 307'!C48/'Page 307'!C47)","v":1.820020725083887E-2},{"$f":"LN('Page 307'!D48/'Page 307'!D47)","v":8.1367002364949009E-2},{"$f":"LN('Page 307'!E48/'Page 307'!E47)","v":6.9832701379484413E-2},{"$f":"LN('Page 307'!F48/'Page 307'!F47)","v":0.17095779814363948},{"$f":"LN('Page 307'!G48/'Page 307'!G47)","v":4.8561500086365991E-2},{"$f":"LN('Page 307'!H48/'Page 307'!H47)","v":4.9139238745929577E-2},{"$f":"LN('Page 307'!I48/'Page 307'!I47)","v":6.3410785680541745E-2},{"$f":"LN('Page 307'!J48/'Page 307'!J47)","v":-0.11106185171340001},{"$f":"LN('Page 307'!K48/'Page 307'!K47)","v":3.006555571682842E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A49","v":"2004-12-01"},{"$f":"LN('Page 307'!B49/'Page 307'!B48)","v":3.7322922153975452E-2},{"$f":"LN('Page 307'!C49/'Page 307'!C48)","v":2.3366111829273544E-2},{"$f":"LN('Page 307'!D49/'Page 307'!D48)","v":1.1528949752586601E-2},{"$f":"LN('Page 307'!E49/'Page 307'!E48)","v":5.0807739631713138E-2},{"$f":"LN('Page 307'!F49/'Page 307'!F48)","v":7.2845091274365475E-2},{"$f":"LN('Page 307'!G49/'Page 307'!G48)","v":1.1780646733647522E-2},{"$f":"LN('Page 307'!H49/'Page 307'!H48)","v":-7.8576913481500574E-2},{"$f":"LN('Page 307'!I49/'Page 307'!I48)","v":7.9096996758603308E-2},{"$f":"LN('Page 307'!J49/'Page 307'!J48)","v":0.15064395501804845},{"$f":"LN('Page 307'!K49/'Page 307'!K48)","v":3.0700799499319052E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A50","v":"2005-01-03"},{"$f":"LN('Page 307'!B50/'Page 307'!B49)","v":-8.4621241930356389E-2},{"$f":"LN('Page 307'!C50/'Page 307'!C49)","v":-3.5380477259514341E-2},{"$f":"LN('Page 307'!D50/'Page 307'!D49)","v":-7.0186135918770765E-2},{"$f":"LN('Page 307'!E50/'Page 307'!E49)","v":-6.7814075802137774E-2},{"$f":"LN('Page 307'!F50/'Page 307'!F49)","v":4.3767669233827577E-2},{"$f":"LN('Page 307'!G50/'Page 307'!G49)","v":-5.2949201645518883E-2},{"$f":"LN('Page 307'!H50/'Page 307'!H49)","v":-6.230857333871094E-2},{"$f":"LN('Page 307'!I50/'Page 307'!I49)","v":-3.0892167212963981E-2},{"$f":"LN('Page 307'!J50/'Page 307'!J49)","v":-0.13597187714720946},{"$f":"LN('Page 307'!K50/'Page 307'!K49)","v":2.7582814615142014E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A51","v":"2005-02-01"},{"$f":"LN('Page 307'!B51/'Page 307'!B50)","v":-1.8781294338486465E-2},{"$f":"LN('Page 307'!C51/'Page 307'!C50)","v":-3.0301554580135844E-2},{"$f":"LN('Page 307'!D51/'Page 307'!D50)","v":-4.0365447234627351E-2},{"$f":"LN('Page 307'!E51/'Page 307'!E50)","v":6.0012963591970378E-2},{"$f":"LN('Page 307'!F51/'Page 307'!F50)","v":2.8040761814603344E-2},{"$f":"LN('Page 307'!G51/'Page 307'!G50)","v":1.5050810879805461E-2},{"$f":"LN('Page 307'!H51/'Page 307'!H50)","v":8.9831761210009339E-2},{"$f":"LN('Page 307'!I51/'Page 307'!I50)","v":0.12096939095894733},{"$f":"LN('Page 307'!J51/'Page 307'!J50)","v":0.1224991236785478},{"$f":"LN('Page 307'!K51/'Page 307'!K50)","v":0},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A52","v":"2005-03-01"},{"$f":"LN('Page 307'!B52/'Page 307'!B51)","v":-0.19291006897247834},{"$f":"LN('Page 307'!C52/'Page 307'!C51)","v":-4.3123564739768361E-2},{"$f":"LN('Page 307'!D52/'Page 307'!D51)","v":-1.5143306768055377E-2},{"$f":"LN('Page 307'!E52/'Page 307'!E51)","v":5.7076831135436719E-2},{"$f":"LN('Page 307'!F52/'Page 307'!F51)","v":7.2927962795744389E-3},{"$f":"LN('Page 307'!G52/'Page 307'!G51)","v":-5.0327837460620924E-2},{"$f":"LN('Page 307'!H52/'Page 307'!H51)","v":-5.5487726498661551E-2},{"$f":"LN('Page 307'!I52/'Page 307'!I51)","v":-3.9533996363863642E-2},{"$f":"LN('Page 307'!J52/'Page 307'!J51)","v":3.2691370170432756E-2},{"$f":"LN('Page 307'!K52/'Page 307'!K51)","v":2.061928720273561E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A53","v":"2005-04-01"},{"$f":"LN('Page 307'!B53/'Page 307'!B52)","v":-9.6880755578711189E-2},{"$f":"LN('Page 307'!C53/'Page 307'!C52)","v":-7.8097869719647564E-2},{"$f":"LN('Page 307'!D53/'Page 307'!D52)","v":-7.0224809116881906E-2},{"$f":"LN('Page 307'!E53/'Page 307'!E52)","v":-6.9389225039504426E-2},{"$f":"LN('Page 307'!F53/'Page 307'!F52)","v":-6.1548623195070394E-3},{"$f":"LN('Page 307'!G53/'Page 307'!G52)","v":2.5480496724624442E-2},{"$f":"LN('Page 307'!H53/'Page 307'!H52)","v":-4.594142352617691E-2},{"$f":"LN('Page 307'!I53/'Page 307'!I52)","v":-8.4090263411085331E-2},{"$f":"LN('Page 307'!J53/'Page 307'!J52)","v":4.6176847292534448E-2},{"$f":"LN('Page 307'!K53/'Page 307'!K52)","v":-0.11379938430369087},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A54","v":"2005-05-02"},{"$f":"LN('Page 307'!B54/'Page 307'!B53)","v":0.18352710244930318},{"$f":"LN('Page 307'!C54/'Page 307'!C53)","v":0.10662263503826326},{"$f":"LN('Page 307'!D54/'Page 307'!D53)","v":-5.4825313945502885E-2},{"$f":"LN('Page 307'!E54/'Page 307'!E53)","v":9.5400273952770856E-2},{"$f":"LN('Page 307'!F54/'Page 307'!F53)","v":3.260637264885393E-2},{"$f":"LN('Page 307'!G54/'Page 307'!G53)","v":2.1641182170363763E-2},{"$f":"LN('Page 307'!H54/'Page 307'!H53)","v":-6.3478637625527953E-2},{"$f":"LN('Page 307'!I54/'Page 307'!I53)","v":-4.8856415191471511E-3},{"$f":"LN('Page 307'!J54/'Page 307'!J53)","v":-4.4209633543365608E-2},{"$f":"LN('Page 307'!K54/'Page 307'!K53)","v":7.7717127067817651E-3},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A55","v":"2005-06-01"},{"$f":"LN('Page 307'!B55/'Page 307'!B54)","v":7.5398017484211849E-2},{"$f":"LN('Page 307'!C55/'Page 307'!C54)","v":-8.810629682154807E-3},{"$f":"LN('Page 307'!D55/'Page 307'!D54)","v":-6.4133010455345182E-2},{"$f":"LN('Page 307'!E55/'Page 307'!E54)","v":4.6642858212284775E-2},{"$f":"LN('Page 307'!F55/'Page 307'!F54)","v":-2.7097609528046317E-2},{"$f":"LN('Page 307'!G55/'Page 307'!G54)","v":-9.4644715951083796E-3},{"$f":"LN('Page 307'!H55/'Page 307'!H54)","v":-3.6437396202430979E-2},{"$f":"LN('Page 307'!I55/'Page 307'!I54)","v":-7.8226311422276262E-2},{"$f":"LN('Page 307'!J55/'Page 307'!J54)","v":-4.0098923757426963E-2},{"$f":"LN('Page 307'!K55/'Page 307'!K54)","v":-5.839972287312481E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A56","v":"2005-07-01"},{"$f":"LN('Page 307'!B56/'Page 307'!B55)","v":7.961287744985443E-2},{"$f":"LN('Page 307'!C56/'Page 307'!C55)","v":0.111924040446493},{"$f":"LN('Page 307'!D56/'Page 307'!D55)","v":4.4733760005041763E-2},{"$f":"LN('Page 307'!E56/'Page 307'!E55)","v":4.6207295751177817E-2},{"$f":"LN('Page 307'!F56/'Page 307'!F55)","v":3.492972976486533E-2},{"$f":"LN('Page 307'!G56/'Page 307'!G55)","v":3.2741019719103662E-2},{"$f":"LN('Page 307'!H56/'Page 307'!H55)","v":7.086611586863184E-2},{"$f":"LN('Page 307'!I56/'Page 307'!I55)","v":-7.7332429856533293E-3},{"$f":"LN('Page 307'!J56/'Page 307'!J55)","v":8.487574293294043E-3},{"$f":"LN('Page 307'!K56/'Page 307'!K55)","v":3.6675870532732226E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A57","v":"2005-08-01"},{"$f":"LN('Page 307'!B57/'Page 307'!B56)","v":-5.9944142589560705E-2},{"$f":"LN('Page 307'!C57/'Page 307'!C56)","v":-7.3624746343640385E-2},{"$f":"LN('Page 307'!D57/'Page 307'!D56)","v":-1.5794997671489491E-2},{"$f":"LN('Page 307'!E57/'Page 307'!E56)","v":0.12015205726548621},{"$f":"LN('Page 307'!F57/'Page 307'!F56)","v":5.4354604727998697E-2},{"$f":"LN('Page 307'!G57/'Page 307'!G56)","v":4.3827681550951342E-3},{"$f":"LN('Page 307'!H57/'Page 307'!H56)","v":-4.0852320064980054E-2},{"$f":"LN('Page 307'!I57/'Page 307'!I56)","v":-6.6967475452974504E-2},{"$f":"LN('Page 307'!J57/'Page 307'!J56)","v":-8.2044936173400654E-2},{"$f":"LN('Page 307'!K57/'Page 307'!K56)","v":-4.6773375085093986E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A58","v":"2005-09-01"},{"$f":"LN('Page 307'!B58/'Page 307'!B57)","v":-0.11058139743583054},{"$f":"LN('Page 307'!C58/'Page 307'!C57)","v":-5.5627110165963341E-2},{"$f":"LN('Page 307'!D58/'Page 307'!D57)","v":-3.4759699844709162E-2},{"$f":"LN('Page 307'!E58/'Page 307'!E57)","v":5.3166311674076518E-2},{"$f":"LN('Page 307'!F58/'Page 307'!F57)","v":5.2814229686611279E-2},{"$f":"LN('Page 307'!G58/'Page 307'!G57)","v":3.9004433719410765E-2},{"$f":"LN('Page 307'!H58/'Page 307'!H57)","v":-9.2471150737398339E-2},{"$f":"LN('Page 307'!I58/'Page 307'!I57)","v":-1.0168253429252682E-2},{"$f":"LN('Page 307'!J58/'Page 307'!J57)","v":-3.6625917411804654E-2},{"$f":"LN('Page 307'!K58/'Page 307'!K57)","v":3.0546396365180008E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A59","v":"2005-10-03"},{"$f":"LN('Page 307'!B59/'Page 307'!B58)","v":-0.1109657416650736},{"$f":"LN('Page 307'!C59/'Page 307'!C58)","v":7.3256368722335555E-2},{"$f":"LN('Page 307'!D59/'Page 307'!D58)","v":-2.081962778239007E-2},{"$f":"LN('Page 307'!E59/'Page 307'!E58)","v":-4.0505625285962132E-2},{"$f":"LN('Page 307'!F59/'Page 307'!F58)","v":1.8058554362292371E-2},{"$f":"LN('Page 307'!G59/'Page 307'!G58)","v":-7.8416004513044302E-3},{"$f":"LN('Page 307'!H59/'Page 307'!H58)","v":-5.4200674693391446E-3},{"$f":"LN('Page 307'!I59/'Page 307'!I58)","v":6.2472709572152785E-2},{"$f":"LN('Page 307'!J59/'Page 307'!J58)","v":3.6258877583862995E-2},{"$f":"LN('Page 307'!K59/'Page 307'!K58)","v":3.5010045623190378E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A60","v":"2005-11-01"},{"$f":"LN('Page 307'!B60/'Page 307'!B59)","v":-0.20545063730561666},{"$f":"LN('Page 307'!C60/'Page 307'!C59)","v":2.0222397007998206E-2},{"$f":"LN('Page 307'!D60/'Page 307'!D59)","v":8.5637127858860893E-2},{"$f":"LN('Page 307'!E60/'Page 307'!E59)","v":5.6599107365378584E-2},{"$f":"LN('Page 307'!F60/'Page 307'!F59)","v":-3.0612495948348563E-2},{"$f":"LN('Page 307'!G60/'Page 307'!G59)","v":3.2763776408278281E-2},{"$f":"LN('Page 307'!H60/'Page 307'!H59)","v":0.12703037360806441},{"$f":"LN('Page 307'!I60/'Page 307'!I59)","v":3.3885139264615775E-2},{"$f":"LN('Page 307'!J60/'Page 307'!J59)","v":5.3951285962047978E-2},{"$f":"LN('Page 307'!K60/'Page 307'!K59)","v":3.7700662364008368E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A61","v":"2005-12-01"},{"$f":"LN('Page 307'!B61/'Page 307'!B60)","v":-0.12029317970226346},{"$f":"LN('Page 307'!C61/'Page 307'!C60)","v":-3.1608658636442653E-2},{"$f":"LN('Page 307'!D61/'Page 307'!D60)","v":6.3894606112102861E-2},{"$f":"LN('Page 307'!E61/'Page 307'!E60)","v":-3.3152207316900509E-2},{"$f":"LN('Page 307'!F61/'Page 307'!F60)","v":3.6651493165116622E-2},{"$f":"LN('Page 307'!G61/'Page 307'!G60)","v":7.8109748161892467E-4},{"$f":"LN('Page 307'!H61/'Page 307'!H60)","v":7.5842213332526193E-2},{"$f":"LN('Page 307'!I61/'Page 307'!I60)","v":-5.9673169077704346E-3},{"$f":"LN('Page 307'!J61/'Page 307'!J60)","v":7.8570051941829144E-2},{"$f":"LN('Page 307'!K61/'Page 307'!K60)","v":-1.2583677756234533E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A62","v":"2006-01-03"},{"$f":"LN('Page 307'!B62/'Page 307'!B61)","v":0.21458520228304806},{"$f":"LN('Page 307'!C62/'Page 307'!C61)","v":1.7410774202929755E-3},{"$f":"LN('Page 307'!D62/'Page 307'!D61)","v":-2.9724878833430512E-2},{"$f":"LN('Page 307'!E62/'Page 307'!E61)","v":8.5430071204617777E-2},{"$f":"LN('Page 307'!F62/'Page 307'!F61)","v":-3.240219498645891E-2},{"$f":"LN('Page 307'!G62/'Page 307'!G61)","v":2.1244522433005595E-2},{"$f":"LN('Page 307'!H62/'Page 307'!H61)","v":6.3151040259666502E-2},{"$f":"LN('Page 307'!I62/'Page 307'!I61)","v":-8.2039752711578345E-2},{"$f":"LN('Page 307'!J62/'Page 307'!J61)","v":8.1179829888370206E-2},{"$f":"LN('Page 307'!K62/'Page 307'!K61)","v":-6.3181739632142964E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A63","v":"2006-02-01"},{"$f":"LN('Page 307'!B63/'Page 307'!B62)","v":-0.1583331549988253},{"$f":"LN('Page 307'!C63/'Page 307'!C62)","v":3.8752259662623204E-2},{"$f":"LN('Page 307'!D63/'Page 307'!D62)","v":1.1750289801631692E-2},{"$f":"LN('Page 307'!E63/'Page 307'!E62)","v":5.090637234751344E-2},{"$f":"LN('Page 307'!F63/'Page 307'!F62)","v":-6.0962831464255992E-3},{"$f":"LN('Page 307'!G63/'Page 307'!G62)","v":2.6959875830777722E-2},{"$f":"LN('Page 307'!H63/'Page 307'!H62)","v":-6.6912371416664659E-2},{"$f":"LN('Page 307'!I63/'Page 307'!I62)","v":3.6488293263136684E-2},{"$f":"LN('Page 307'!J63/'Page 307'!J62)","v":1.0616437076253071E-2},{"$f":"LN('Page 307'!K63/'Page 307'!K62)","v":1.7780083852863355E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A64","v":"2006-03-01"},{"$f":"LN('Page 307'!B64/'Page 307'!B63)","v":4.6158302921268657E-2},{"$f":"LN('Page 307'!C64/'Page 307'!C63)","v":7.1462905368182526E-3},{"$f":"LN('Page 307'!D64/'Page 307'!D63)","v":5.3565534134501359E-2},{"$f":"LN('Page 307'!E64/'Page 307'!E63)","v":5.1948168771041511E-3},{"$f":"LN('Page 307'!F64/'Page 307'!F63)","v":-3.7042356075807268E-3},{"$f":"LN('Page 307'!G64/'Page 307'!G63)","v":-2.5050749630452611E-2},{"$f":"LN('Page 307'!H64/'Page 307'!H63)","v":4.1602779042856315E-2},{"$f":"LN('Page 307'!I64/'Page 307'!I63)","v":4.7942660970409473E-2},{"$f":"LN('Page 307'!J64/'Page 307'!J63)","v":2.1474998228097959E-2},{"$f":"LN('Page 307'!K64/'Page 307'!K63)","v":2.815190289476506E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A65","v":"2006-04-03"},{"$f":"LN('Page 307'!B65/'Page 307'!B64)","v":7.3225748894030954E-2},{"$f":"LN('Page 307'!C65/'Page 307'!C64)","v":-5.7647216771325914E-2},{"$f":"LN('Page 307'!D65/'Page 307'!D64)","v":5.0287544034935766E-2},{"$f":"LN('Page 307'!E65/'Page 307'!E64)","v":-1.3192398723521168E-2},{"$f":"LN('Page 307'!F65/'Page 307'!F64)","v":3.2025208754611109E-2},{"$f":"LN('Page 307'!G65/'Page 307'!G64)","v":2.5980376916886951E-2},{"$f":"LN('Page 307'!H65/'Page 307'!H64)","v":9.9989561843298519E-2},{"$f":"LN('Page 307'!I65/'Page 307'!I64)","v":4.3693435217569923E-2},{"$f":"LN('Page 307'!J65/'Page 307'!J64)","v":-2.3236595865095331E-2},{"$f":"LN('Page 307'!K65/'Page 307'!K64)","v":0.12106861082463452},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A66","v":"2006-05-01"},{"$f":"LN('Page 307'!B66/'Page 307'!B65)","v":0.17263965122364733},{"$f":"LN('Page 307'!C66/'Page 307'!C65)","v":-4.6316484975888444E-2},{"$f":"LN('Page 307'!D66/'Page 307'!D65)","v":-6.0243702410911405E-2},{"$f":"LN('Page 307'!E66/'Page 307'!E65)","v":-2.7833634793053221E-3},{"$f":"LN('Page 307'!F66/'Page 307'!F65)","v":-1.1120492693080124E-2},{"$f":"LN('Page 307'!G66/'Page 307'!G65)","v":1.016926578161461E-2},{"$f":"LN('Page 307'!H66/'Page 307'!H65)","v":-5.8471128985531085E-2},{"$f":"LN('Page 307'!I66/'Page 307'!I65)","v":-2.8053305983079591E-2},{"$f":"LN('Page 307'!J66/'Page 307'!J65)","v":-2.1985436925880866E-2},{"$f":"LN('Page 307'!K66/'Page 307'!K65)","v":-1.5654968672613196E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]
[{"$f":"'Page 307'!A67","v":"2006-06-01"},{"$f":"LN('Page 307'!B67/'Page 307'!B66)","v":0.10093185990168346},{"$f":"LN('Page 307'!C67/'Page 307'!C66)","v":-5.9127849465776476E-2},{"$f":"LN('Page 307'!D67/'Page 307'!D66)","v":-5.0704886015175053E-2},{"$f":"LN('Page 307'!E67/'Page 307'!E66)","v":-1.9072017823958738E-2},{"$f":"LN('Page 307'!F67/'Page 307'!F66)","v":2.6075837632647349E-2},{"$f":"LN('Page 307'!G67/'Page 307'!G66)","v":-2.1194323733399835E-2},{"$f":"LN('Page 307'!H67/'Page 307'!H66)","v":1.9975695423643827E-2},{"$f":"LN('Page 307'!I67/'Page 307'!I66)","v":-2.2109541998324524E-2},{"$f":"LN('Page 307'!J67/'Page 307'!J66)","v":9.0135559433538959E-2},{"$f":"LN('Page 307'!K67/'Page 307'!K66)","v":-3.5155356559847424E-2},{"$f":"#REF!/1200","v":{"$error":"#REF!"}}]

{"sheet":"Page 310","index":2,"n_rows":32,"n_cols":13,"rows_kept":32,"cut":false,"hidden":false,"merged":[[0,0,0,12]]}
["SUPER DUPER BENCHMARK PORTFOLIO—NAIVE OPTIMIZATION"]
[null,"General Motors\nGM","Home Depot\nHD","International paper\nIP","Hewlett-Packard\nHPQ","Altria\nMO","American Express\nAXP","Alcoa Aluminum\nAA","DuPont\nDD","Merck\nMRK","MMM"]
["Market cap (billion $)",16.850000000000001,73.98,15.92,88.37,153.33000000000001,65.66,28.16,38.32,79.510000000000005,60.9]
["Benchmark proportion",{"$f":"B3:K3/SUM(B3:K3)","v":2.7133655394524961E-2},0.11913043478260871,2.5636070853462159E-2,0.14230273752012884,0.2469082125603865,0.10573268921095008,4.5346215780998393E-2,6.1706924315619971E-2,0.1280354267310789,9.8067632850241546E-2]
[]
["Variance-covariance matrix of excess returns"]
[null,"GM","HD","IP","HPQ","MO","AXP","AA","DD","MRK","MMM",null,"Mean\nreturn"]
["GM",{"$f":"varcovar('Page 308'!B10:K69)","v":1.1827887290127072E-2},3.0616966387962061E-3,2.3648647601545417E-3,4.1873289349653288E-3,1.3638381207513209E-3,3.2977201102176055E-3,4.6367543702203126E-3,1.8386918252302948E-3,9.8064684016909809E-4,1.3827073603953962E-3,null,{"$f":"TRANSPOSE('Page 308'!B6:K6)","v":-8.7338516296339343E-3}]
["HD",3.0616966387962061E-3,7.1915538852237301E-3,1.8720356133547745E-3,4.2671330709419756E-3,2.2433016415447193E-3,3.333019331542827E-3,4.5850713324564986E-3,2.038093419640348E-3,1.7952070062733907E-4,1.7987288149139793E-3,null,-3.912585257124279E-3]
["IP",2.3648647601545417E-3,1.8720356133547745E-3,3.9512157747363125E-3,3.1371720748123665E-3,8.7596530124603713E-5,2.3525781562448501E-3,4.3441471131029155E-3,2.0963862940954767E-3,1.2073801100505796E-3,1.605356114390743E-3,null,5.6680525235541432E-4]
["HPQ",4.1873289349653288E-3,4.2671330709419756E-3,3.1371720748123665E-3,1.1872189456048057E-2,2.5664586415194202E-3,4.9212134253087637E-3,6.051076226770878E-3,3.3138058856412612E-3,1.977086953260401E-3,2.229959502902916E-3,null,2.9945591784535926E-3]
["MO",1.3638381207513209E-3,2.2433016415447193E-3,8.7596530124603713E-5,2.5664586415194202E-3,7.7116078032911737E-3,1.6165090043558429E-3,1.8128380882872074E-3,8.9334385056870531E-4,6.8208902648499864E-4,8.0643237768199868E-4,null,1.0657665224744494E-2]
["AXP",3.2977201102176055E-3,3.333019331542827E-3,2.3525781562448501E-3,4.9212134253087637E-3,1.6165090043558429E-3,4.204640221937052E-3,3.7657229784054756E-3,1.9442716547078552E-3,1.0746120855315187E-3,1.374942375452833E-3,null,8.2352946572464818E-3]
["AA",4.6367543702203126E-3,4.5850713324564986E-3,4.3441471131029155E-3,6.051076226770878E-3,1.8128380882872074E-3,3.7657229784054756E-3,9.262545394167758E-3,4.0792264660765914E-3,1.7948211594435955E-3,2.4313021011758192E-3,null,-1.8043520930813397E-3]
["DD",1.8386918252302948E-3,2.038093419640348E-3,2.0963862940954767E-3,3.3138058856412612E-3,8.9334385056870531E-4,1.9442716547078552E-3,4.0792264660765914E-3,3.8146341307680812E-3,1.6506834577585342E-3,1.932755869856114E-3,null,2.9098702286280479E-4]
["MRK",9.8064684016909809E-4,1.7952070062733907E-4,1.2073801100505796E-3,1.977086953260401E-3,6.8208902648499864E-4,1.0746120855315187E-3,1.7948211594435955E-3,1.6506834577585342E-3,6.610491527312733E-3,4.8958731583673544E-4,null,-5.5220323858443934E-3]
["MMM",1.3827073603953962E-3,1.7987288149139793E-3,1.605356114390743E-3,2.229959502902916E-3,8.0643237768199868E-4,1.374942375452833E-3,2.4313021011758192E-3,1.932755869856114E-3,4.8958731583673544E-4,3.1163665708069297E-3,null,7.4809905230536237E-3]
[]
["Current t-bill rate",{"$f":"4.83%/12","v":4.0249999999999999E-3},{"$f":"getformula(B19)","v":"<--  =4.83%/12"}]
[]
["\"Optimal\" portfolio"]
["GM",{"$f":"MMULT(MINVERSE(B8:K17),M8:M17-B19)/SUM(MMULT(MINVERSE(B8:K17),M8:M17-B19))","v":4.8016042062036712},{"$f":"getformula(B22)","v":"<--  {=MMULT(MINVERSE(B8:K17),M8:M17-B19)/SUM(MMULT(MINVERSE(B8:K17),M8:M17-B19))}"}]
["HD",9.8178714104189098]
["IP",6.8927349988250315]
["HPQ",2.2126804111412572]
["MO",-2.6367471916022387]
["AXP",-17.637141331380484]
["AA",-3.2453235608456716]
["DD",5.2875727845499689]
["MRK",4.6954468169439512]
["MMM",-9.1886985442543949]
["Sum of proportions",{"$f":"SUM(B22:B31)","v":0.99999999999999822},{"$f":"getformula(B32)","v":"<--  =SUM(B22:B31)"}]

{"sheet":"Page 311","index":3,"n_rows":83,"n_cols":12,"rows_kept":83,"cut":false,"hidden":false,"merged":[[0,0,0,11]]}
["NEGATIVE RETURNS AND HIGH CORRELATIONS"]
[null,"General Motors\nGM","Home Depot\nHD","International Paper\nIP","Hewlett-Packard\nHPQ","Altria\nMO","American Express\nAXP","Alcoa Aluminum\nAA","DuPont\nDD","Merck\nMRK","MMM"]
["Market cap (billion $)",16.850000000000001,73.98,15.92,88.37,153.33000000000001,65.66,28.16,38.32,79.510000000000005,60.9]
["Benchmark proportion",{"$f":"B3/SUM($B$3:$K$3)","v":2.7133655394524961E-2},0.11913043478260871,2.5636070853462159E-2,0.14230273752012884,0.2469082125603865,0.10573268921095008,4.5346215780998393E-2,6.1706924315619971E-2,0.1280354267310789,9.8067632850241546E-2]
[]
["Mean return",{"$f":"'Page 308'!B6","v":-8.7338516296339343E-3},{"$f":"'Page 308'!C6","v":-3.912585257124279E-3},{"$f":"'Page 308'!D6","v":5.6680525235541432E-4},{"$f":"'Page 308'!E6","v":2.9945591784535926E-3},{"$f":"'Page 308'!F6","v":1.0657665224744494E-2},{"$f":"'Page 308'!G6","v":8.2352946572464818E-3},{"$f":"'Page 308'!H6","v":-1.8043520930813397E-3},{"$f":"'Page 308'!I6","v":2.9098702286280479E-4},{"$f":"'Page 308'!J6","v":-5.5220323858443934E-3},{"$f":"'Page 308'!K6","v":7.4809905230536237E-3}]
["Return sigma",{"$f":"'Page 308'!B7","v":0.1078459820081009},{"$f":"'Page 308'!C7","v":8.409336866723402E-2},{"$f":"'Page 308'!D7","v":6.2332673442510929E-2},{"$f":"'Page 308'!E7","v":0.10804776551035467},{"$f":"'Page 308'!F7","v":8.708088772267801E-2},{"$f":"'Page 308'!G7","v":6.4300566754148969E-2},{"$f":"'Page 308'!H7","v":9.5436731071418715E-2},{"$f":"'Page 308'!I7","v":6.1245872475255668E-2},{"$f":"'Page 308'!J7","v":8.0624541353884208E-2},{"$f":"'Page 308'!K7","v":5.5357268068069863E-2}]
[]
[]
[null,"GM","HD","IP","HPQ","MO","AXP","AA","DD","MRK","MMM"]
["GM",{"$f":"CORREL($B$24:$B$83,B24:B83)","v":1.0000000000000002},{"$f":"CORREL($B$24:$B$83,C24:C83)","v":0.33196874702201357},0.34592929956961432,0.35336056465617799,0.14280281531568095,0.46762291383844962,0.44299143205232072,0.27373410570703616,0.11090271242503912,0.22774687021990875,{"$f":"getformula(K11)","v":"<--  =CORREL($B$24:$B$83,K24:K83)"}]
["HD",null,{"$f":"CORREL($C$24:$C$83,C24:C83)","v":1},{"$f":"CORREL($C$24:$C$83,D24:D83)","v":0.35118613666789711},0.46180582639019552,0.30123389520875637,0.6061247847349146,0.56178424116101433,0.38912243614957809,2.6036720954528997E-2,0.37995315401550506,{"$f":"getformula(K12)","v":"<--  =CORREL($C$24:$C$83,K24:K83)"}]
["IP",null,null,{"$f":"CORREL($D$24:$D$83,D24:D83)","v":1},{"$f":"CORREL($D$24:$D$83,E24:E83)","v":0.45804437882344723},1.5868981822027572E-2,0.57718397728817084,0.71808189311659287,0.53998226104482994,0.23624453301005408,0.45749014636637525,{"$f":"getformula(K13)","v":"<--  =CORREL($D$24:$D$83,K24:K83)"}]
["HPQ",null,null,null,{"$f":"CORREL($E$24:$E$83,E24:E83)","v":1.0000000000000002},{"$f":"CORREL($E$24:$E$83,F24:F83)","v":0.26822323348396782},0.69653408034764841,0.57703484575039132,0.49241946347950405,0.22317394196818549,0.36661252518053239]
["MO",null,null,null,null,{"$f":"CORREL($F$24:$F$83,F24:F83)","v":1},0.2838842123468639,0.21449707560970527,0.16470991385982944,9.5532626725274461E-2,0.16450201441471435]
["AXP",null,null,null,null,null,{"$f":"CORREL($G$24:$G$83,G24:G83)","v":0.99999999999999978},{"$f":"CORREL($G$24:$G$83,H24:H83)","v":0.60341871195945296},{"$f":"CORREL($G$24:$G$83,I24:I83)","v":0.48547411569986559},{"$f":"CORREL($G$24:$G$83,J24:J83)","v":0.20383108854761076},{"$f":"CORREL($G$24:$G$83,K24:K83)","v":0.37983572404111177}]
["AA",null,null,null,null,null,null,{"$f":"CORREL($H$24:$H$83,H24:H83)","v":1},{"$f":"CORREL($H$24:$H$83,I24:I83)","v":0.68625606685913632},{"$f":"CORREL($H$24:$H$83,J24:J83)","v":0.22937132834635715},{"$f":"CORREL($H$24:$H$83,K24:K83)","v":0.4525321950617443}]
["DD",null,null,null,null,null,null,null,{"$f":"CORREL($I$24:$I$83,I24:I83)","v":1.0000000000000002},{"$f":"CORREL($I$24:$I$83,J24:J83)","v":0.32871572291504386},{"$f":"CORREL($I$24:$I$83,K24:K83)","v":0.56056539891550294}]
["MRK",null,null,null,null,null,null,null,null,{"$f":"CORREL($J$24:$J$83,J24:J83)","v":1},{"$f":"CORREL($J$24:$J$83,K24:K83)","v":0.10786710242080622}]
["MMM",null,null,null,null,null,null,null,null,null,{"$f":"CORREL($K$24:$K$83,K24:K83)","v":0.99999999999999989}]
[]
["Excess returns:  Monthly minus sample mean for each asset"]
["Date","GM","HD","IP","HPQ","MO","AXP","AA","DD","MRK","MMM"]
["2001-07-02",{"$f":"'Page 308'!B10-'Page 308'!B$6","v":-3.0627462310828923E-3},{"$f":"'Page 308'!C10-'Page 308'!C$6","v":6.809200524861854E-2},{"$f":"'Page 308'!D10-'Page 308'!D$6","v":0.13184288226296723},{"$f":"'Page 308'!E10-'Page 308'!E$6","v":-0.15093111487575941},{"$f":"'Page 308'!F10-'Page 308'!F$6","v":-9.4903825913908071E-2},{"$f":"'Page 308'!G10-'Page 308'!G$6","v":3.2500462698433291E-2},{"$f":"'Page 308'!H10-'Page 308'!H$6","v":-1.7515862464700719E-2},{"$f":"'Page 308'!I10-'Page 308'!I$6","v":-0.11938971169333286},{"$f":"'Page 308'!J10-'Page 308'!J$6","v":6.7421085804567057E-2},{"$f":"'Page 308'!K10-'Page 308'!K$6","v":-2.7264223127559988E-2},{"$f":"getformula(K24)","v":"<--  ='Page 308'!K10-'Page 308'!K$6"}]
["2001-08-01",{"$f":"'Page 308'!B11-'Page 308'!B$6","v":-0.13322277405186608},{"$f":"'Page 308'!C11-'Page 308'!C$6","v":-8.7138133565564282E-2},{"$f":"'Page 308'!D11-'Page 308'!D$6","v":-9.58603211920467E-3},{"$f":"'Page 308'!E11-'Page 308'!E$6","v":-6.3947750079493687E-2},{"$f":"'Page 308'!F11-'Page 308'!F$6","v":3.0332807098958647E-2},{"$f":"'Page 308'!G11-'Page 308'!G$6","v":-0.11025033833719441},{"$f":"'Page 308'!H11-'Page 308'!H$6","v":-2.3100327086993777E-2},{"$f":"'Page 308'!I11-'Page 308'!I$6","v":-3.6199473281267457E-2},{"$f":"'Page 308'!J11-'Page 308'!J$6","v":-3.2617383401615394E-2},{"$f":"'Page 308'!K11-'Page 308'!K$6","v":-7.3933640491646802E-2}]
["2001-09-04",{"$f":"'Page 308'!B12-'Page 308'!B$6","v":-0.23496017261158167},{"$f":"'Page 308'!C12-'Page 308'!C$6","v":-0.17641368700038992},{"$f":"'Page 308'!D12-'Page 308'!D$6","v":-0.14205730754444659},{"$f":"'Page 308'!E12-'Page 308'!E$6","v":-0.36741423404350276},{"$f":"'Page 308'!F12-'Page 308'!F$6","v":7.7698825232636291E-3},{"$f":"'Page 308'!G12-'Page 308'!G$6","v":-0.23391972681061798},{"$f":"'Page 308'!H12-'Page 308'!H$6","v":-0.20480989726991797},{"$f":"'Page 308'!I12-'Page 308'!I$6","v":-8.8003708284373455E-2},{"$f":"'Page 308'!J12-'Page 308'!J$6","v":2.8354074428490084E-2},{"$f":"'Page 308'!K12-'Page 308'!K$6","v":-6.3794095775051574E-2}]
["2001-10-01",{"$f":"'Page 308'!B13-'Page 308'!B$6","v":-2.8938223955821157E-2},{"$f":"'Page 308'!C13-'Page 308'!C$6","v":3.7275855200021675E-4},{"$f":"'Page 308'!D13-'Page 308'!D$6","v":2.6461867135563786E-2},{"$f":"'Page 308'!E13-'Page 308'!E$6","v":4.4773763032093919E-2},{"$f":"'Page 308'!F13-'Page 308'!F$6","v":-4.1834605795418991E-2},{"$f":"'Page 308'!G13-'Page 308'!G$6","v":7.2373267203379443E-3},{"$f":"'Page 308'!H13-'Page 308'!H$6","v":4.6411050133602118E-2},{"$f":"'Page 308'!I13-'Page 308'!I$6","v":6.3428676959518468E-2},{"$f":"'Page 308'!J13-'Page 308'!J$6","v":-3.7332060562686925E-2},{"$f":"'Page 308'!K13-'Page 308'!K$6","v":5.157675912054753E-2}]
["2001-11-01",{"$f":"'Page 308'!B14-'Page 308'!B$6","v":0.2052357176976381},{"$f":"'Page 308'!C14-'Page 308'!C$6","v":0.20398795401617414},{"$f":"'Page 308'!D14-'Page 308'!D$6","v":0.11530965213344638},{"$f":"'Page 308'!E14-'Page 308'!E$6","v":0.2645174063241949},{"$f":"'Page 308'!F14-'Page 308'!F$6","v":-2.7718323808161166E-3},{"$f":"'Page 308'!G14-'Page 308'!G$6","v":0.10364934707752312},{"$f":"'Page 308'!H14-'Page 308'!H$6","v":0.18076876897336949},{"$f":"'Page 308'!I14-'Page 308'!I$6","v":0.11116559674850103},{"$f":"'Page 308'!J14-'Page 308'!J$6","v":6.5349394883244621E-2},{"$f":"'Page 308'!K14-'Page 308'!K$6","v":9.0833889971572379E-2}]
["2001-12-03",{"$f":"'Page 308'!B15-'Page 308'!B$6","v":-1.3721799773353827E-2},{"$f":"'Page 308'!C15-'Page 308'!C$6","v":9.3358839800741472E-2},{"$f":"'Page 308'!D15-'Page 308'!D$6","v":9.5598635655738534E-3},{"$f":"'Page 308'!E15-'Page 308'!E$6","v":-6.7630884609711117E-2},{"$f":"'Page 308'!F15-'Page 308'!F$6","v":-2.6492011891370713E-2},{"$f":"'Page 308'!G15-'Page 308'!G$6","v":7.2918400798600666E-2},{"$f":"'Page 308'!H15-'Page 308'!H$6","v":-8.0425603849147834E-2},{"$f":"'Page 308'!I15-'Page 308'!I$6","v":-4.2520671690948357E-2},{"$f":"'Page 308'!J15-'Page 308'!J$6","v":-0.1307873970285402},{"$f":"'Page 308'!K15-'Page 308'!K$6","v":2.3748033323025601E-2}]
["2002-01-02",{"$f":"'Page 308'!B16-'Page 308'!B$6","v":5.9549612661439988E-2},{"$f":"'Page 308'!C16-'Page 308'!C$6","v":-1.4221025167530325E-2},{"$f":"'Page 308'!D16-'Page 308'!D$6","v":3.4090128556688991E-2},{"$f":"'Page 308'!E16-'Page 308'!E$6","v":7.0889824377355262E-2},{"$f":"'Page 308'!F16-'Page 308'!F$6","v":7.8026316950390487E-2},{"$f":"'Page 308'!G16-'Page 308'!G$6","v":-1.5951640179689246E-3},{"$f":"'Page 308'!H16-'Page 308'!H$6","v":1.0123611289656919E-2},{"$f":"'Page 308'!I16-'Page 308'!I$6","v":3.8005298054417526E-2},{"$f":"'Page 308'!J16-'Page 308'!J$6","v":1.1860528147782597E-2},{"$f":"'Page 308'!K16-'Page 308'!K$6","v":-7.0353924156111677E-2}]
["2002-02-01",{"$f":"'Page 308'!B17-'Page 308'!B$6","v":5.428343199838042E-2},{"$f":"'Page 308'!C17-'Page 308'!C$6","v":2.0393408754438317E-3},{"$f":"'Page 308'!D17-'Page 308'!D$6","v":5.1321067677616315E-2},{"$f":"'Page 308'!E17-'Page 308'!E$6","v":-9.7433026011698662E-2},{"$f":"'Page 308'!F17-'Page 308'!F$6","v":3.895958423555658E-2},{"$f":"'Page 308'!G17-'Page 308'!G$6","v":8.1746567776313731E-3},{"$f":"'Page 308'!H17-'Page 308'!H$6","v":5.3235716113969371E-2},{"$f":"'Page 308'!I17-'Page 308'!I$6","v":6.6281722289492861E-2},{"$f":"'Page 308'!J17-'Page 308'!J$6","v":4.1310317522264037E-2},{"$f":"'Page 308'!K17-'Page 308'!K$6","v":5.853572748382832E-2}]
["2002-03-01",{"$f":"'Page 308'!B18-'Page 308'!B$6","v":0.14071142462433481},{"$f":"'Page 308'!C18-'Page 308'!C$6","v":-2.3330151136749976E-2},{"$f":"'Page 308'!D18-'Page 308'!D$6","v":-1.7652387840089531E-2},{"$f":"'Page 308'!E18-'Page 308'!E$6","v":-0.11381308553804634},{"$f":"'Page 308'!F18-'Page 308'!F$6","v":7.7919996620170497E-4},{"$f":"'Page 308'!G18-'Page 308'!G$6","v":0.10838966327850937},{"$f":"'Page 308'!H18-'Page 308'!H$6","v":6.4568757514968465E-3},{"$f":"'Page 308'!I18-'Page 308'!I$6","v":6.3242520958565994E-3},{"$f":"'Page 308'!J18-'Page 308'!J$6","v":-5.1983095149779397E-2},{"$f":"'Page 308'!K18-'Page 308'!K$6","v":-3.2723052408231319E-2}]
["2002-04-01",{"$f":"'Page 308'!B19-'Page 308'!B$6","v":6.8137523734117716E-2},{"$f":"'Page 308'!C19-'Page 308'!C$6","v":-4.3209093637863745E-2},{"$f":"'Page 308'!D19-'Page 308'!D$6","v":-3.7805150392474174E-2},{"$f":"'Page 308'!E19-'Page 308'!E$6","v":-5.113056495876462E-2},{"$f":"'Page 308'!F19-'Page 308'!F$6","v":2.2200935754331113E-2},{"$f":"'Page 308'!G19-'Page 308'!G$6","v":-4.7650771782393585E-3},{"$f":"'Page 308'!H19-'Page 308'!H$6","v":-0.10172050293624595},{"$f":"'Page 308'!I19-'Page 308'!I$6","v":-5.8096022288510407E-2},{"$f":"'Page 308'!J19-'Page 308'!J$6","v":-5.2294976138226597E-2},{"$f":"'Page 308'!K19-'Page 308'!K$6","v":8.2288052551278801E-2}]
["2002-05-01",{"$f":"'Page 308'!B20-'Page 308'!B$6","v":-1.5557254580825458E-2},{"$f":"'Page 308'!C20-'Page 308'!C$6","v":-0.10254568012423207},{"$f":"'Page 308'!D20-'Page 308'!D$6","v":4.44739201719484E-2},{"$f":"'Page 308'!E20-'Page 308'!E$6","v":0.10740939670196119},{"$f":"'Page 308'!F20-'Page 308'!F$6","v":3.9855866262942546E-2},{"$f":"'Page 308'!G20-'Page 308'!G$6","v":2.749291714275226E-2},{"$f":"'Page 308'!H20-'Page 308'!H$6","v":3.3784281715400211E-2},{"$f":"'Page 308'!I20-'Page 308'!I$6","v":4.0769012807069183E-2},{"$f":"'Page 308'!J20-'Page 308'!J$6","v":5.4909292515477832E-2},{"$f":"'Page 308'!K20-'Page 308'!K$6","v":-5.5786985529446605E-3}]
["2002-06-03",{"$f":"'Page 308'!B21-'Page 308'!B$6","v":-0.14208442661172521},{"$f":"'Page 308'!C21-'Page 308'!C$6","v":-0.12145027808899751},{"$f":"'Page 308'!D21-'Page 308'!D$6","v":1.0511499469382913E-2},{"$f":"'Page 308'!E21-'Page 308'!E$6","v":-0.22139810440618074},{"$f":"'Page 308'!F21-'Page 308'!F$6","v":-0.26884583174903437},{"$f":"'Page 308'!G21-'Page 308'!G$6","v":-0.16536161365242416},{"$f":"'Page 308'!H21-'Page 308'!H$6","v":-5.1968601339410947E-2},{"$f":"'Page 308'!I21-'Page 308'!I$6","v":-3.5932317936931663E-2},{"$f":"'Page 308'!J21-'Page 308'!J$6","v":-0.10814532541507159},{"$f":"'Page 308'!K21-'Page 308'!K$6","v":-2.7021039994494869E-2}]
["2002-07-01",{"$f":"'Page 308'!B22-'Page 308'!B$6","v":-0.12951896949327524},{"$f":"'Page 308'!C22-'Page 308'!C$6","v":-0.16961919215990978},{"$f":"'Page 308'!D22-'Page 308'!D$6","v":-9.0587387074078887E-2},{"$f":"'Page 308'!E22-'Page 308'!E$6","v":-7.9566246359111234E-2},{"$f":"'Page 308'!F22-'Page 308'!F$6","v":4.2369452535767932E-2},{"$f":"'Page 308'!G22-'Page 308'!G$6","v":-3.5996495820741763E-2},{"$f":"'Page 308'!H22-'Page 308'!H$6","v":-0.195692606094965},{"$f":"'Page 308'!I22-'Page 308'!I$6","v":-5.7752192604966189E-2},{"$f":"'Page 308'!J22-'Page 308'!J$6","v":-1.5117520910703654E-2},{"$f":"'Page 308'!K22-'Page 308'!K$6","v":1.533633656906299E-2}]
["2002-08-01",{"$f":"'Page 308'!B23-'Page 308'!B$6","v":4.7934198391533532E-2},{"$f":"'Page 308'!C23-'Page 308'!C$6","v":6.8430069485437325E-2},{"$f":"'Page 308'!D23-'Page 308'!D$6","v":-4.9987950618450412E-2},{"$f":"'Page 308'!E23-'Page 308'!E$6","v":-5.5394835571985268E-2},{"$f":"'Page 308'!F23-'Page 308'!F$6","v":7.1502968496218955E-2},{"$f":"'Page 308'!G23-'Page 308'!G$6","v":1.4297136423449578E-2},{"$f":"'Page 308'!H23-'Page 308'!H$6","v":-7.3475410875902633E-2},{"$f":"'Page 308'!I23-'Page 308'!I$6","v":-3.1011543152364374E-2},{"$f":"'Page 308'!J23-'Page 308'!J$6","v":2.3970470989577559E-2},{"$f":"'Page 308'!K23-'Page 308'!K$6","v":-9.7221775658078661E-3}]
["2002-09-03",{"$f":"'Page 308'!B24-'Page 308'!B$6","v":-0.19843562512994059},{"$f":"'Page 308'!C24-'Page 308'!C$6","v":-0.22723069189995704},{"$f":"'Page 308'!D24-'Page 308'!D$6","v":-0.12059831676341813},{"$f":"'Page 308'!E24-'Page 308'!E$6","v":-0.13743051993340313},{"$f":"'Page 308'!F24-'Page 308'!F$6","v":-0.25076710215294823},{"$f":"'Page 308'!G24-'Page 308'!G$6","v":-0.15363235055827007},{"$f":"'Page 308'!H24-'Page 308'!H$6","v":-0.26043033113759151},{"$f":"'Page 308'!I24-'Page 308'!I$6","v":-0.11135130828436955},{"$f":"'Page 308'!J24-'Page 308'!J$6","v":-8.7110769647764139E-2},{"$f":"'Page 308'!K24-'Page 308'!K$6","v":-0.13525944779719354}]
["2002-10-01",{"$f":"'Page 308'!B25-'Page 308'!B$6","v":-0.1482918203768096},{"$f":"'Page 308'!C25-'Page 308'!C$6","v":0.10516926424917546},{"$f":"'Page 308'!D25-'Page 308'!D$6","v":4.4245887366935278E-2},{"$f":"'Page 308'!E25-'Page 308'!E$6","v":0.2999549854041158},{"$f":"'Page 308'!F25-'Page 308'!F$6","v":3.8266796234322401E-2},{"$f":"'Page 308'!G25-'Page 308'!G$6","v":0.14824040176253558},{"$f":"'Page 308'!H25-'Page 308'!H$6","v":0.13512516668011521},{"$f":"'Page 308'!I25-'Page 308'!I$6","v":0.1338291141882969},{"$f":"'Page 308'!J25-'Page 308'!J$6","v":0.17664024546980611},{"$f":"'Page 308'!K25-'Page 308'!K$6","v":0.1360512172152086}]
["2002-11-01",{"$f":"'Page 308'!B26-'Page 308'!B$6","v":0.20053760930226511},{"$f":"'Page 308'!C26-'Page 308'!C$6","v":-8.5879251808753623E-2},{"$f":"'Page 308'!D26-'Page 308'!D$6","v":0.12323176223731985},{"$f":"'Page 308'!E26-'Page 308'!E$6","v":0.20668983876175132},{"$f":"'Page 308'!F26-'Page 308'!F$6","v":-8.7869409225570766E-2},{"$f":"'Page 308'!G26-'Page 308'!G$6","v":5.9720097810437092E-2},{"$f":"'Page 308'!H26-'Page 308'!H$6","v":0.15504201433400186},{"$f":"'Page 308'!I26-'Page 308'!I$6","v":8.6468595932955333E-2},{"$f":"'Page 308'!J26-'Page 308'!J$6","v":9.6562385938760584E-2},{"$f":"'Page 308'!K26-'Page 308'!K$6","v":2.0000631708415435E-2}]
["2002-12-02",{"$f":"'Page 308'!B27-'Page 308'!B$6","v":-6.5327586170092808E-2},{"$f":"'Page 308'!C27-'Page 308'!C$6","v":-8.8257874542532949E-2},{"$f":"'Page 308'!D27-'Page 308'!D$6","v":-0.11614268251626336},{"$f":"'Page 308'!E27-'Page 308'!E$6","v":-0.11409267173295301},{"$f":"'Page 308'!F27-'Page 308'!F$6","v":7.6944553731851967E-2},{"$f":"'Page 308'!G27-'Page 308'!G$6","v":-0.10245614973511645},{"$f":"'Page 308'!H27-'Page 308'!H$6","v":-0.11287431654415643},{"$f":"'Page 308'!I27-'Page 308'!I$6","v":-5.1173492225618657E-2},{"$f":"'Page 308'!J27-'Page 308'!J$6","v":-3.6492128286870172E-2},{"$f":"'Page 308'!K27-'Page 308'!K$6","v":-5.9209351265084628E-2}]
["2003-01-02",{"$f":"'Page 308'!B28-'Page 308'!B$6","v":-5.7020946033075458E-3},{"$f":"'Page 308'!C28-'Page 308'!C$6","v":-0.13505226109039381},{"$f":"'Page 308'!D28-'Page 308'!D$6","v":2.0315985716473955E-2},{"$f":"'Page 308'!E28-'Page 308'!E$6","v":2.9331846623326628E-5},{"$f":"'Page 308'!F28-'Page 308'!F$6","v":-7.8469899030280565E-2},{"$f":"'Page 308'!G28-'Page 308'!G$6","v":-3.2576835834942754E-3},{"$f":"'Page 308'!H28-'Page 308'!H$6","v":-0.1396611682068612},{"$f":"'Page 308'!I28-'Page 308'!I$6","v":-0.11321699771729767},{"$f":"'Page 308'!J28-'Page 308'!J$6","v":-1.6385361478464706E-2},{"$f":"'Page 308'!K28-'Page 308'!K$6","v":2.564123384698489E-3}]
["2003-02-03",{"$f":"'Page 308'!B29-'Page 308'!B$6","v":-5.0487261184480818E-2},{"$f":"'Page 308'!C29-'Page 308'!C$6","v":0.11888500486142099},{"$f":"'Page 308'!D29-'Page 308'!D$6","v":-1.266935793881867E-2},{"$f":"'Page 308'!E29-'Page 308'!E$6","v":-9.6615345555757168E-2},{"$f":"'Page 308'!F29-'Page 308'!F$6","v":9.6777766459861733E-3},{"$f":"'Page 308'!G29-'Page 308'!G$6","v":-6.4401152584443538E-2},{"$f":"'Page 308'!H29-'Page 308'!H$6","v":4.549803635602908E-2},{"$f":"'Page 308'!I29-'Page 308'!I$6","v":-2.3094255320315834E-2},{"$f":"'Page 308'!J29-'Page 308'!J$6","v":-4.3235237587765561E-2},{"$f":"'Page 308'!K29-'Page 308'!K$6","v":4.3392755806895287E-3}]
["2003-03-03",{"$f":"'Page 308'!B30-'Page 308'!B$6","v":4.1652265684186431E-3},{"$f":"'Page 308'!C30-'Page 308'!C$6","v":4.4575626747665027E-2},{"$f":"'Page 308'!D30-'Page 308'!D$6","v":-3.6160012729397312E-2},{"$f":"'Page 308'!E30-'Page 308'!E$6","v":-1.701816128619996E-2},{"$f":"'Page 308'!F30-'Page 308'!F$6","v":-0.24752141929096563},{"$f":"'Page 308'!G30-'Page 308'!G$6","v":-1.8795054872248588E-2},{"$f":"'Page 308'!H30-'Page 308'!H$6","v":-5.3944272675220208E-2},{"$f":"'Page 308'!I30-'Page 308'!I$6","v":5.7777483000022452E-2},{"$f":"'Page 308'!J30-'Page 308'!J$6","v":5.0324122516526286E-2},{"$f":"'Page 308'!K30-'Page 308'!K$6","v":2.9135990019079534E-2}]
["2003-04-01",{"$f":"'Page 308'!B31-'Page 308'!B$6","v":7.8782875300660124E-2},{"$f":"'Page 308'!C31-'Page 308'!C$6","v":0.14777617311885216},{"$f":"'Page 308'!D31-'Page 308'!D$6","v":5.5422659339738896E-2},{"$f":"'Page 308'!E31-'Page 308'!E$6","v":4.3647720792085044E-2},{"$f":"'Page 308'!F31-'Page 308'!F$6","v":1.5680030660290924E-2},{"$f":"'Page 308'!G31-'Page 308'!G$6","v":0.12445533415024274},{"$f":"'Page 308'!H31-'Page 308'!H$6","v":0.17637822209621012},{"$f":"'Page 308'!I31-'Page 308'!I$6","v":9.0008220817862625E-2},{"$f":"'Page 308'!J31-'Page 308'!J$6","v":6.5550729789312312E-2},{"$f":"'Page 308'!K31-'Page 308'!K$6","v":-3.8663175079229825E-2}]
["2003-05-01",{"$f":"'Page 308'!B32-'Page 308'!B$6","v":2.4745658339377944E-3},{"$f":"'Page 308'!C32-'Page 308'!C$6","v":0.14826081505212821},{"$f":"'Page 308'!D32-'Page 308'!D$6","v":3.1640643739281764E-2},{"$f":"'Page 308'!E32-'Page 308'!E$6","v":0.17632720963638945},{"$f":"'Page 308'!F32-'Page 308'!F$6","v":0.2838815769531734},{"$f":"'Page 308'!G32-'Page 308'!G$6","v":8.7441046233879521E-2},{"$f":"'Page 308'!H32-'Page 308'!H$6","v":7.24008753145675E-2},{"$f":"'Page 308'!I32-'Page 308'!I$6","v":-1.3381075373881607E-3},{"$f":"'Page 308'!J32-'Page 308'!J$6","v":-4.0080185307400248E-2},{"$f":"'Page 308'!K32-'Page 308'!K$6","v":1.1201249860383474E-3}]
["2003-06-02",{"$f":"'Page 308'!B33-'Page 308'!B$6","v":2.7395385167483015E-2},{"$f":"'Page 308'!C33-'Page 308'!C$6","v":2.4979234490175285E-2},{"$f":"'Page 308'!D33-'Page 308'!D$6","v":-2.6370817208785542E-2},{"$f":"'Page 308'!E33-'Page 308'!E$6","v":8.918939689960502E-2},{"$f":"'Page 308'!F33-'Page 308'!F$6","v":9.9758386776539781E-2},{"$f":"'Page 308'!G33-'Page 308'!G$6","v":-4.5810390096342694E-3},{"$f":"'Page 308'!H33-'Page 308'!H$6","v":3.7401330833313096E-2},{"$f":"'Page 308'!I33-'Page 308'!I$6","v":-1.2412347555207655E-2},{"$f":"'Page 308'!J33-'Page 308'!J$6","v":9.7512313480499019E-2},{"$f":"'Page 308'!K33-'Page 308'!K$6","v":1.2305173293239949E-2}]
["2003-07-01",{"$f":"'Page 308'!B34-'Page 308'!B$6","v":4.7542793098254051E-2},{"$f":"'Page 308'!C34-'Page 308'!C$6","v":-5.6031652018614986E-2},{"$f":"'Page 308'!D34-'Page 308'!D$6","v":9.0034876724128549E-2},{"$f":"'Page 308'!E34-'Page 308'!E$6","v":-8.8827018036761896E-3},{"$f":"'Page 308'!F34-'Page 308'!F$6","v":-0.13801597459104373},{"$f":"'Page 308'!G34-'Page 308'!G$6","v":4.9016642680549227E-2},{"$f":"'Page 308'!H34-'Page 308'!H$6","v":8.7149062030241919E-2},{"$f":"'Page 308'!I34-'Page 308'!I$6","v":5.3636692224106358E-2},{"$f":"'Page 308'!J34-'Page 308'!J$6","v":-8.5600569695587839E-2},{"$f":"'Page 308'!K34-'Page 308'!K$6","v":7.5874276284390432E-2}]
["2003-08-01",{"$f":"'Page 308'!B35-'Page 308'!B$6","v":0.1157466676337551},{"$f":"'Page 308'!C35-'Page 308'!C$6","v":3.4173557038933759E-2},{"$f":"'Page 308'!D35-'Page 308'!D$6","v":4.1298509339896691E-2},{"$f":"'Page 308'!E35-'Page 308'!E$6","v":-6.334239843657323E-2},{"$f":"'Page 308'!F35-'Page 308'!F$6","v":1.9016409333718422E-2},{"$f":"'Page 308'!G35-'Page 308'!G$6","v":1.1442632698004206E-2},{"$f":"'Page 308'!H35-'Page 308'!H$6","v":3.5629448246725218E-2},{"$f":"'Page 308'!I35-'Page 308'!I$6","v":2.5742465354387241E-2},{"$f":"'Page 308'!J35-'Page 308'!J$6","v":-3.3386500532847599E-2},{"$f":"'Page 308'!K35-'Page 308'!K$6","v":1.3206300970160952E-2}]
["2003-09-02",{"$f":"'Page 308'!B36-'Page 308'!B$6","v":4.5197703828031678E-3},{"$f":"'Page 308'!C36-'Page 308'!C$6","v":-3.4865155732009406E-3},{"$f":"'Page 308'!D36-'Page 308'!D$6","v":-3.882951098764395E-2},{"$f":"'Page 308'!E36-'Page 308'!E$6","v":-2.8406196540790549E-2},{"$f":"'Page 308'!F36-'Page 308'!F$6","v":6.6678153391644318E-2},{"$f":"'Page 308'!G36-'Page 308'!G$6","v":-7.975520659162778E-3},{"$f":"'Page 308'!H36-'Page 308'!H$6","v":-8.6215394448564103E-2},{"$f":"'Page 308'!I36-'Page 308'!I$6","v":-0.11203502546247819},{"$f":"'Page 308'!J36-'Page 308'!J$6","v":1.8734630821307472E-2},{"$f":"'Page 308'!K36-'Page 308'!K$6","v":-3.8368568371084218E-2}]
["2003-10-01",{"$f":"'Page 308'!B37-'Page 308'!B$6","v":5.0366328431185936E-2},{"$f":"'Page 308'!C37-'Page 308'!C$6","v":0.15580045500297096},{"$f":"'Page 308'!D37-'Page 308'!D$6","v":7.6977045975382373E-3},{"$f":"'Page 308'!E37-'Page 308'!E$6","v":0.13921222986533907},{"$f":"'Page 308'!F37-'Page 308'!F$6","v":4.918601160861881E-2},{"$f":"'Page 308'!G37-'Page 308'!G$6","v":3.4724672510124698E-2},{"$f":"'Page 308'!H37-'Page 308'!H$6","v":0.18996034853394164},{"$f":"'Page 308'!I37-'Page 308'!I$6","v":9.5130130737580299E-3},{"$f":"'Page 308'!J37-'Page 308'!J$6","v":-0.12905869496141664},{"$f":"'Page 308'!K37-'Page 308'!K$6","v":0.12517013719972728}]
["2003-11-03",{"$f":"'Page 308'!B38-'Page 308'!B$6","v":2.3211316289990219E-2},{"$f":"'Page 308'!C38-'Page 308'!C$6","v":-4.4440093338170257E-3},{"$f":"'Page 308'!D38-'Page 308'!D$6","v":-4.9480433833327765E-2},{"$f":"'Page 308'!E38-'Page 308'!E$6","v":-2.8908847943923947E-2},{"$f":"'Page 308'!F38-'Page 308'!F$6","v":0.10100647022138148},{"$f":"'Page 308'!G38-'Page 308'!G$6","v":-3.4708541150425952E-2},{"$f":"'Page 308'!H38-'Page 308'!H$6","v":4.4990650746211967E-2},{"$f":"'Page 308'!I38-'Page 308'!I$6","v":3.4071163168080495E-2},{"$f":"'Page 308'!J38-'Page 308'!J$6","v":-8.0541137453565975E-2},{"$f":"'Page 308'!K38-'Page 308'!K$6","v":-1.0689995459764534E-3}]
["2003-12-01",{"$f":"'Page 308'!B39-'Page 308'!B$6","v":0.23033242514525143},{"$f":"'Page 308'!C39-'Page 308'!C$6","v":-2.9362203627748041E-2},{"$f":"'Page 308'!D39-'Page 308'!D$6","v":0.14652108578313236},{"$f":"'Page 308'!E39-'Page 308'!E$6","v":5.540943235973575E-2},{"$f":"'Page 308'!F39-'Page 308'!F$6","v":4.7669143665605485E-2},{"$f":"'Page 308'!G39-'Page 308'!G$6","v":4.7659049135464322E-2},{"$f":"'Page 308'!H39-'Page 308'!H$6","v":0.14865522676210083},{"$f":"'Page 308'!I39-'Page 308'!I$6","v":0.10121292631841104},{"$f":"'Page 308'!J39-'Page 308'!J$6","v":0.14365447441552745},{"$f":"'Page 308'!K39-'Page 308'!K$6","v":6.5551646198474645E-2}]
["2004-01-02",{"$f":"'Page 308'!B40-'Page 308'!B$6","v":-6.3325594336342772E-2},{"$f":"'Page 308'!C40-'Page 308'!C$6","v":3.3340489378347981E-3},{"$f":"'Page 308'!D40-'Page 308'!D$6","v":-2.0155578272002296E-2},{"$f":"'Page 308'!E40-'Page 308'!E$6","v":3.1957018844359912E-2},{"$f":"'Page 308'!F40-'Page 308'!F$6","v":1.0619733222540385E-2},{"$f":"'Page 308'!G40-'Page 308'!G$6","v":6.3989844400063015E-2},{"$f":"'Page 308'!H40-'Page 308'!H$6","v":-0.10426295338566519},{"$f":"'Page 308'!I40-'Page 308'!I$6","v":-4.454920744929082E-2},{"$f":"'Page 308'!J40-'Page 308'!J$6","v":3.5275506482792519E-2},{"$f":"'Page 308'!K40-'Page 308'!K$6","v":-7.9848069815687386E-2}]
["2004-02-02",{"$f":"'Page 308'!B41-'Page 308'!B$6","v":-1.3046434736013681E-2},{"$f":"'Page 308'!C41-'Page 308'!C$6","v":2.7362330052908633E-2},{"$f":"'Page 308'!D41-'Page 308'!D$6","v":5.1081485715742163E-2},{"$f":"'Page 308'!E41-'Page 308'!E$6","v":-4.9266158466273337E-2},{"$f":"'Page 308'!F41-'Page 308'!F$6","v":2.3958880444419382E-2},{"$f":"'Page 308'!G41-'Page 308'!G$6","v":2.1657332931287299E-2},{"$f":"'Page 308'!H41-'Page 308'!H$6","v":9.8148008240386914E-2},{"$f":"'Page 308'!I41-'Page 308'!I$6","v":3.4220335842720218E-2},{"$f":"'Page 308'!J41-'Page 308'!J$6","v":1.5555951594274538E-2},{"$f":"'Page 308'!K41-'Page 308'!K$6","v":-1.657074699948308E-2}]
["2004-03-01",{"$f":"'Page 308'!B42-'Page 308'!B$6","v":-9.4678091274498864E-3},{"$f":"'Page 308'!C42-'Page 308'!C$6","v":3.4255901346073876E-2},{"$f":"'Page 308'!D42-'Page 308'!D$6","v":-4.6903334648201449E-2},{"$f":"'Page 308'!E42-'Page 308'!E$6","v":6.0716860592994488E-3},{"$f":"'Page 308'!F42-'Page 308'!F$6","v":-5.4425266111265649E-2},{"$f":"'Page 308'!G42-'Page 308'!G$6","v":-3.6107039106007939E-2},{"$f":"'Page 308'!H42-'Page 308'!H$6","v":-7.5357714272390228E-2},{"$f":"'Page 308'!I42-'Page 308'!I$6","v":-6.5944957244299579E-2},{"$f":"'Page 308'!J42-'Page 308'!J$6","v":-7.0928342784357098E-2},{"$f":"'Page 308'!K42-'Page 308'!K$6","v":4.0624739381316846E-2}]
["2004-04-01",{"$f":"'Page 308'!B43-'Page 308'!B$6","v":1.2305709219276696E-2},{"$f":"'Page 308'!C43-'Page 308'!C$6","v":-5.5975400895106192E-2},{"$f":"'Page 308'!D43-'Page 308'!D$6","v":-4.7567451483831222E-2},{"$f":"'Page 308'!E43-'Page 308'!E$6","v":-0.15054851343428136},{"$f":"'Page 308'!F43-'Page 308'!F$6","v":6.3571264528274503E-3},{"$f":"'Page 308'!G43-'Page 308'!G$6","v":-6.5710439832489892E-2},{"$f":"'Page 308'!H43-'Page 308'!H$6","v":-0.11854530382937693},{"$f":"'Page 308'!I43-'Page 308'!I$6","v":1.6907211274358017E-2},{"$f":"'Page 308'!J43-'Page 308'!J$6","v":6.7001367704260198E-2},{"$f":"'Page 308'!K43-'Page 308'!K$6","v":4.7299944174457723E-2}]
["2004-05-03",{"$f":"'Page 308'!B44-'Page 308'!B$6","v":-2.3881673730528345E-2},{"$f":"'Page 308'!C44-'Page 308'!C$6","v":2.4371446081854369E-2},{"$f":"'Page 308'!D44-'Page 308'!D$6","v":4.4919071691752778E-2},{"$f":"'Page 308'!E44-'Page 308'!E$6","v":7.2046928100658686E-2},{"$f":"'Page 308'!F44-'Page 308'!F$6","v":-0.15425301521908402},{"$f":"'Page 308'!G44-'Page 308'!G$6","v":2.6782288810575559E-2},{"$f":"'Page 308'!H44-'Page 308'!H$6","v":2.4337674748883126E-2},{"$f":"'Page 308'!I44-'Page 308'!I$6","v":1.3900711388000366E-2},{"$f":"'Page 308'!J44-'Page 308'!J$6","v":1.1865293406189928E-2},{"$f":"'Page 308'!K44-'Page 308'!K$6","v":-2.5574393647326995E-2}]
["2004-06-01",{"$f":"'Page 308'!B45-'Page 308'!B$6","v":3.491081891807727E-2},{"$f":"'Page 308'!C45-'Page 308'!C$6","v":-1.3929614676434214E-2},{"$f":"'Page 308'!D45-'Page 308'!D$6","v":6.3292480709472229E-2},{"$f":"'Page 308'!E45-'Page 308'!E$6","v":-5.9100131385776116E-3},{"$f":"'Page 308'!F45-'Page 308'!F$6","v":4.5908049109378513E-2},{"$f":"'Page 308'!G45-'Page 308'!G$6","v":7.0182737153556864E-3},{"$f":"'Page 308'!H45-'Page 308'!H$6","v":5.5538960687747871E-2},{"$f":"'Page 308'!I45-'Page 308'!I$6","v":2.7502123227456744E-2},{"$f":"'Page 308'!J45-'Page 308'!J$6","v":1.7395062095107272E-2},{"$f":"'Page 308'!K45-'Page 308'!K$6","v":5.4927209797739435E-2}]
["2004-07-01",{"$f":"'Page 308'!B46-'Page 308'!B$6","v":-6.8322887865340451E-2},{"$f":"'Page 308'!C46-'Page 308'!C$6","v":-3.9101609061915649E-2},{"$f":"'Page 308'!D46-'Page 308'!D$6","v":-3.3822881970888279E-2},{"$f":"'Page 308'!E46-'Page 308'!E$6","v":-4.8796491832327635E-2},{"$f":"'Page 308'!F46-'Page 308'!F$6","v":-6.0982749112260259E-2},{"$f":"'Page 308'!G46-'Page 308'!G$6","v":-3.039496782626086E-2},{"$f":"'Page 308'!H46-'Page 308'!H$6","v":-2.8918064168072452E-2},{"$f":"'Page 308'!I46-'Page 308'!I$6","v":-3.5777397409491131E-2},{"$f":"'Page 308'!J46-'Page 308'!J$6","v":-4.0656409914891674E-2},{"$f":"'Page 308'!K46-'Page 308'!K$6","v":-9.6264071342358148E-2}]
["2004-08-02",{"$f":"'Page 308'!B47-'Page 308'!B$6","v":-2.2498184312306359E-2},{"$f":"'Page 308'!C47-'Page 308'!C$6","v":8.7051667062263638E-2},{"$f":"'Page 308'!D47-'Page 308'!D$6","v":-7.1907794943684059E-2},{"$f":"'Page 308'!E47-'Page 308'!E$6","v":-0.12186070793489376},{"$f":"'Page 308'!F47-'Page 308'!F$6","v":1.7289172310075037E-2},{"$f":"'Page 308'!G47-'Page 308'!G$6","v":-1.286600448338898E-2},{"$f":"'Page 308'!H47-'Page 308'!H$6","v":1.728353894154137E-2},{"$f":"'Page 308'!I47-'Page 308'!I$6","v":-6.2880064952372068E-3},{"$f":"'Page 308'!J47-'Page 308'!J$6","v":-2.9969433159541771E-3},{"$f":"'Page 308'!K47-'Page 308'!K$6","v":-2.9315071294763757E-3}]
["2004-09-01",{"$f":"'Page 308'!B48-'Page 308'!B$6","v":3.6601059755974545E-2},{"$f":"'Page 308'!C48-'Page 308'!C$6","v":7.3667602313586655E-2},{"$f":"'Page 308'!D48-'Page 308'!D$6","v":9.1229392801197174E-3},{"$f":"'Page 308'!E48-'Page 308'!E$6","v":4.7897048117935631E-2},{"$f":"'Page 308'!F48-'Page 308'!F$6","v":-3.5613588301716931E-2},{"$f":"'Page 308'!G48-'Page 308'!G$6","v":2.013540247196887E-2},{"$f":"'Page 308'!H48-'Page 308'!H$6","v":3.8560492218201008E-2},{"$f":"'Page 308'!I48-'Page 308'!I$6","v":1.2409968171701582E-2},{"$f":"'Page 308'!J48-'Page 308'!J$6","v":-0.29536507098621467},{"$f":"'Page 308'!K48-'Page 308'!K$6","v":-3.6909931067123099E-2}]
["2004-10-01",{"$f":"'Page 308'!B49-'Page 308'!B$6","v":-8.8392859101088864E-2},{"$f":"'Page 308'!C49-'Page 308'!C$6","v":5.091730035828846E-2},{"$f":"'Page 308'!D49-'Page 308'!D$6","v":-4.8614477349926508E-2},{"$f":"'Page 308'!E49-'Page 308'!E$6","v":-7.9139459782718094E-3},{"$f":"'Page 308'!F49-'Page 308'!F$6","v":1.8992577415008618E-2},{"$f":"'Page 308'!G49-'Page 308'!G$6","v":2.4823733611140826E-2},{"$f":"'Page 308'!H49-'Page 308'!H$6","v":-3.1119142011861976E-2},{"$f":"'Page 308'!I49-'Page 308'!I$6","v":1.4397588659650104E-3},{"$f":"'Page 308'!J49-'Page 308'!J$6","v":-4.7023523192205437E-2},{"$f":"'Page 308'!K49-'Page 308'!K$6","v":-3.7936181935440738E-2}]
["2004-11-01",{"$f":"'Page 308'!B50-'Page 308'!B$6","v":2.2918486621590316E-2},{"$f":"'Page 308'!C50-'Page 308'!C$6","v":2.211279250796315E-2},{"$f":"'Page 308'!D50-'Page 308'!D$6","v":8.0800197112593591E-2},{"$f":"'Page 308'!E50-'Page 308'!E$6","v":6.683814220103082E-2},{"$f":"'Page 308'!F50-'Page 308'!F$6","v":0.160300132918895},{"$f":"'Page 308'!G50-'Page 308'!G$6","v":4.0326205429119508E-2},{"$f":"'Page 308'!H50-'Page 308'!H$6","v":5.0943590839010913E-2},{"$f":"'Page 308'!I50-'Page 308'!I$6","v":6.3119798657678944E-2},{"$f":"'Page 308'!J50-'Page 308'!J$6","v":-0.10553981932755561},{"$f":"'Page 308'!K50-'Page 308'!K$6","v":2.2584565193774796E-2}]
["2004-12-01",{"$f":"'Page 308'!B51-'Page 308'!B$6","v":4.6056773783609388E-2},{"$f":"'Page 308'!C51-'Page 308'!C$6","v":2.7278697086397824E-2},{"$f":"'Page 308'!D51-'Page 308'!D$6","v":1.0962144500231186E-2},{"$f":"'Page 308'!E51-'Page 308'!E$6","v":4.7813180453259545E-2},{"$f":"'Page 308'!F51-'Page 308'!F$6","v":6.2187426049620978E-2},{"$f":"'Page 308'!G51-'Page 308'!G$6","v":3.5453520764010399E-3},{"$f":"'Page 308'!H51-'Page 308'!H$6","v":-7.677256138841923E-2},{"$f":"'Page 308'!I51-'Page 308'!I$6","v":7.8806009735740506E-2},{"$f":"'Page 308'!J51-'Page 308'!J$6","v":0.15616598740389284},{"$f":"'Page 308'!K51-'Page 308'!K$6","v":2.3219808976265428E-2}]
["2005-01-03",{"$f":"'Page 308'!B52-'Page 308'!B$6","v":-7.588739030072246E-2},{"$f":"'Page 308'!C52-'Page 308'!C$6","v":-3.1467892002390065E-2},{"$f":"'Page 308'!D52-'Page 308'!D$6","v":-7.0752941171126182E-2},{"$f":"'Page 308'!E52-'Page 308'!E$6","v":-7.0808634980591367E-2},{"$f":"'Page 308'!F52-'Page 308'!F$6","v":3.311000400908308E-2},{"$f":"'Page 308'!G52-'Page 308'!G$6","v":-6.1184496302765366E-2},{"$f":"'Page 308'!H52-'Page 308'!H$6","v":-6.0504221245629604E-2},{"$f":"'Page 308'!I52-'Page 308'!I$6","v":-3.1183154235826786E-2},{"$f":"'Page 308'!J52-'Page 308'!J$6","v":-0.13044984476136506},{"$f":"'Page 308'!K52-'Page 308'!K$6","v":2.010182409208839E-2}]
["2005-02-01",{"$f":"'Page 308'!B53-'Page 308'!B$6","v":-1.0047442708852531E-2},{"$f":"'Page 308'!C53-'Page 308'!C$6","v":-2.6388969323011564E-2},{"$f":"'Page 308'!D53-'Page 308'!D$6","v":-4.0932252486982762E-2},{"$f":"'Page 308'!E53-'Page 308'!E$6","v":5.7018404413516785E-2},{"$f":"'Page 308'!F53-'Page 308'!F$6","v":1.738309658985885E-2},{"$f":"'Page 308'!G53-'Page 308'!G$6","v":6.8155162225589788E-3},{"$f":"'Page 308'!H53-'Page 308'!H$6","v":9.1636113303090683E-2},{"$f":"'Page 308'!I53-'Page 308'!I$6","v":0.12067840393608453},{"$f":"'Page 308'!J53-'Page 308'!J$6","v":0.12802115606439218},{"$f":"'Page 308'!K53-'Page 308'!K$6","v":-7.4809905230536237E-3}]
["2005-03-01",{"$f":"'Page 308'!B54-'Page 308'!B$6","v":-0.18417621734284439},{"$f":"'Page 308'!C54-'Page 308'!C$6","v":-3.9210979482644084E-2},{"$f":"'Page 308'!D54-'Page 308'!D$6","v":-1.5710112020410789E-2},{"$f":"'Page 308'!E54-'Page 308'!E$6","v":5.4082271956983126E-2},{"$f":"'Page 308'!F54-'Page 308'!F$6","v":-3.3648689451700551E-3},{"$f":"'Page 308'!G54-'Page 308'!G$6","v":-5.8563132117867407E-2},{"$f":"'Page 308'!H54-'Page 308'!H$6","v":-5.3683374405580214E-2},{"$f":"'Page 308'!I54-'Page 308'!I$6","v":-3.9824983386726444E-2},{"$f":"'Page 308'!J54-'Page 308'!J$6","v":3.821340255627715E-2},{"$f":"'Page 308'!K54-'Page 308'!K$6","v":1.3138296679681985E-2}]
["2005-04-01",{"$f":"'Page 308'!B55-'Page 308'!B$6","v":-8.814690394907726E-2},{"$f":"'Page 308'!C55-'Page 308'!C$6","v":-7.4185284462523288E-2},{"$f":"'Page 308'!D55-'Page 308'!D$6","v":-7.0791614369237324E-2},{"$f":"'Page 308'!E55-'Page 308'!E$6","v":-7.2383784217958019E-2},{"$f":"'Page 308'!F55-'Page 308'!F$6","v":-1.6812527544251533E-2},{"$f":"'Page 308'!G55-'Page 308'!G$6","v":1.7245202067377959E-2},{"$f":"'Page 308'!H55-'Page 308'!H$6","v":-4.4137071433095573E-2},{"$f":"'Page 308'!I55-'Page 308'!I$6","v":-8.4381250433948132E-2},{"$f":"'Page 308'!J55-'Page 308'!J$6","v":5.1698879678378842E-2},{"$f":"'Page 308'!K55-'Page 308'!K$6","v":-0.12128037482674449}]
["2005-05-02",{"$f":"'Page 308'!B56-'Page 308'!B$6","v":0.19226095407893712},{"$f":"'Page 308'!C56-'Page 308'!C$6","v":0.11053522029538754},{"$f":"'Page 308'!D56-'Page 308'!D$6","v":-5.5392119197858296E-2},{"$f":"'Page 308'!E56-'Page 308'!E$6","v":9.2405714774317263E-2},{"$f":"'Page 308'!F56-'Page 308'!F$6","v":2.1948707424109436E-2},{"$f":"'Page 308'!G56-'Page 308'!G$6","v":1.3405887513117281E-2},{"$f":"'Page 308'!H56-'Page 308'!H$6","v":-6.1674285532446617E-2},{"$f":"'Page 308'!I56-'Page 308'!I$6","v":-5.176628542009956E-3},{"$f":"'Page 308'!J56-'Page 308'!J$6","v":-3.8687601157521213E-2},{"$f":"'Page 308'!K56-'Page 308'!K$6","v":2.9072218372814141E-4}]
["2005-06-01",{"$f":"'Page 308'!B57-'Page 308'!B$6","v":8.4131869113845778E-2},{"$f":"'Page 308'!C57-'Page 308'!C$6","v":-4.898044425030528E-3},{"$f":"'Page 308'!D57-'Page 308'!D$6","v":-6.46998157077006E-2},{"$f":"'Page 308'!E57-'Page 308'!E$6","v":4.3648299033831182E-2},{"$f":"'Page 308'!F57-'Page 308'!F$6","v":-3.7755274752790807E-2},{"$f":"'Page 308'!G57-'Page 308'!G$6","v":-1.7699766252354861E-2},{"$f":"'Page 308'!H57-'Page 308'!H$6","v":-3.4633044109349642E-2},{"$f":"'Page 308'!I57-'Page 308'!I$6","v":-7.8517298445139064E-2},{"$f":"'Page 308'!J57-'Page 308'!J$6","v":-3.4576891371582569E-2},{"$f":"'Page 308'!K57-'Page 308'!K$6","v":-6.5880713396178431E-2}]
["2005-07-01",{"$f":"'Page 308'!B58-'Page 308'!B$6","v":8.8346729079488359E-2},{"$f":"'Page 308'!C58-'Page 308'!C$6","v":0.11583662570361727},{"$f":"'Page 308'!D58-'Page 308'!D$6","v":4.4166954752686352E-2},{"$f":"'Page 308'!E58-'Page 308'!E$6","v":4.3212736572724224E-2},{"$f":"'Page 308'!F58-'Page 308'!F$6","v":2.4272064540120836E-2},{"$f":"'Page 308'!G58-'Page 308'!G$6","v":2.4505725061857178E-2},{"$f":"'Page 308'!H58-'Page 308'!H$6","v":7.2670467961713184E-2},{"$f":"'Page 308'!I58-'Page 308'!I$6","v":-8.0242300085161342E-3},{"$f":"'Page 308'!J58-'Page 308'!J$6","v":1.4009606679138437E-2},{"$f":"'Page 308'!K58-'Page 308'!K$6","v":2.9194880009678601E-2}]
["2005-08-01",{"$f":"'Page 308'!B59-'Page 308'!B$6","v":-5.1210290959926769E-2},{"$f":"'Page 308'!C59-'Page 308'!C$6","v":-6.9712161086516108E-2},{"$f":"'Page 308'!D59-'Page 308'!D$6","v":-1.6361802923844905E-2},{"$f":"'Page 308'!E59-'Page 308'!E$6","v":0.11715749808703262},{"$f":"'Page 308'!F59-'Page 308'!F$6","v":4.3696939503254206E-2},{"$f":"'Page 308'!G59-'Page 308'!G$6","v":-3.8525265021513476E-3},{"$f":"'Page 308'!H59-'Page 308'!H$6","v":-3.9047967971898717E-2},{"$f":"'Page 308'!I59-'Page 308'!I$6","v":-6.7258462475837305E-2},{"$f":"'Page 308'!J59-'Page 308'!J$6","v":-7.652290378755626E-2},{"$f":"'Page 308'!K59-'Page 308'!K$6","v":-5.4254365608147608E-2}]
["2005-09-01",{"$f":"'Page 308'!B60-'Page 308'!B$6","v":-0.10184754580619661},{"$f":"'Page 308'!C60-'Page 308'!C$6","v":-5.1714524908839064E-2},{"$f":"'Page 308'!D60-'Page 308'!D$6","v":-3.5326505097064573E-2},{"$f":"'Page 308'!E60-'Page 308'!E$6","v":5.0171752495622925E-2},{"$f":"'Page 308'!F60-'Page 308'!F$6","v":4.2156564461866788E-2},{"$f":"'Page 308'!G60-'Page 308'!G$6","v":3.0769139062164282E-2},{"$f":"'Page 308'!H60-'Page 308'!H$6","v":-9.0666798644316995E-2},{"$f":"'Page 308'!I60-'Page 308'!I$6","v":-1.0459240452115487E-2},{"$f":"'Page 308'!J60-'Page 308'!J$6","v":-3.110388502596026E-2},{"$f":"'Page 308'!K60-'Page 308'!K$6","v":2.3065405842126383E-2}]
["2005-10-03",{"$f":"'Page 308'!B61-'Page 308'!B$6","v":-0.10223189003543967},{"$f":"'Page 308'!C61-'Page 308'!C$6","v":7.7168953979459831E-2},{"$f":"'Page 308'!D61-'Page 308'!D$6","v":-2.1386433034745484E-2},{"$f":"'Page 308'!E61-'Page 308'!E$6","v":-4.3500184464415725E-2},{"$f":"'Page 308'!F61-'Page 308'!F$6","v":7.4008891375478766E-3},{"$f":"'Page 308'!G61-'Page 308'!G$6","v":-1.6076895108550912E-2},{"$f":"'Page 308'!H61-'Page 308'!H$6","v":-3.6157153762578047E-3},{"$f":"'Page 308'!I61-'Page 308'!I$6","v":6.2181722549289983E-2},{"$f":"'Page 308'!J61-'Page 308'!J$6","v":4.1780909969707389E-2},{"$f":"'Page 308'!K61-'Page 308'!K$6","v":2.7529055100136753E-2}]
["2005-11-01",{"$f":"'Page 308'!B62-'Page 308'!B$6","v":-0.19671678567598272},{"$f":"'Page 308'!C62-'Page 308'!C$6","v":2.4134982265122486E-2},{"$f":"'Page 308'!D62-'Page 308'!D$6","v":8.5070322606505475E-2},{"$f":"'Page 308'!E62-'Page 308'!E$6","v":5.3604548186924991E-2},{"$f":"'Page 308'!F62-'Page 308'!F$6","v":-4.1270161173093053E-2},{"$f":"'Page 308'!G62-'Page 308'!G$6","v":2.4528481751031797E-2},{"$f":"'Page 308'!H62-'Page 308'!H$6","v":0.12883472570114574},{"$f":"'Page 308'!I62-'Page 308'!I$6","v":3.3594152241752974E-2},{"$f":"'Page 308'!J62-'Page 308'!J$6","v":5.9473318347892372E-2},{"$f":"'Page 308'!K62-'Page 308'!K$6","v":3.0219671840954743E-2}]
["2005-12-01",{"$f":"'Page 308'!B63-'Page 308'!B$6","v":-0.11155932807262953},{"$f":"'Page 308'!C63-'Page 308'!C$6","v":-2.7696073379318373E-2},{"$f":"'Page 308'!D63-'Page 308'!D$6","v":6.3327800859747443E-2},{"$f":"'Page 308'!E63-'Page 308'!E$6","v":-3.6146766495354102E-2},{"$f":"'Page 308'!F63-'Page 308'!F$6","v":2.5993827940372128E-2},{"$f":"'Page 308'!G63-'Page 308'!G$6","v":-7.4541971756275568E-3},{"$f":"'Page 308'!H63-'Page 308'!H$6","v":7.7646565425607536E-2},{"$f":"'Page 308'!I63-'Page 308'!I$6","v":-6.2583039306332395E-3},{"$f":"'Page 308'!J63-'Page 308'!J$6","v":8.4092084327673539E-2},{"$f":"'Page 308'!K63-'Page 308'!K$6","v":-2.0064668279288156E-2}]
["2006-01-03",{"$f":"'Page 308'!B64-'Page 308'!B$6","v":0.223319053912682},{"$f":"'Page 308'!C64-'Page 308'!C$6","v":5.6536626774172545E-3},{"$f":"'Page 308'!D64-'Page 308'!D$6","v":-3.0291684085785926E-2},{"$f":"'Page 308'!E64-'Page 308'!E$6","v":8.2435512026164184E-2},{"$f":"'Page 308'!F64-'Page 308'!F$6","v":-4.3059860211203407E-2},{"$f":"'Page 308'!G64-'Page 308'!G$6","v":1.3009227775759113E-2},{"$f":"'Page 308'!H64-'Page 308'!H$6","v":6.4955392352747846E-2},{"$f":"'Page 308'!I64-'Page 308'!I$6","v":-8.2330739734441147E-2},{"$f":"'Page 308'!J64-'Page 308'!J$6","v":8.67018622742146E-2},{"$f":"'Page 308'!K64-'Page 308'!K$6","v":-7.0662730155196585E-2}]
["2006-02-01",{"$f":"'Page 308'!B65-'Page 308'!B$6","v":-0.14959930336919136},{"$f":"'Page 308'!C65-'Page 308'!C$6","v":4.266484491974748E-2},{"$f":"'Page 308'!D65-'Page 308'!D$6","v":1.1183484549276278E-2},{"$f":"'Page 308'!E65-'Page 308'!E$6","v":4.7911813169059847E-2},{"$f":"'Page 308'!F65-'Page 308'!F$6","v":-1.6753948371170092E-2},{"$f":"'Page 308'!G65-'Page 308'!G$6","v":1.8724581173531242E-2},{"$f":"'Page 308'!H65-'Page 308'!H$6","v":-6.5108019323583316E-2},{"$f":"'Page 308'!I65-'Page 308'!I$6","v":3.6197306240273883E-2},{"$f":"'Page 308'!J65-'Page 308'!J$6","v":1.6138469462097463E-2},{"$f":"'Page 308'!K65-'Page 308'!K$6","v":1.029909332980973E-2}]
["2006-03-01",{"$f":"'Page 308'!B66-'Page 308'!B$6","v":5.4892154550902593E-2},{"$f":"'Page 308'!C66-'Page 308'!C$6","v":1.1058875793942533E-2},{"$f":"'Page 308'!D66-'Page 308'!D$6","v":5.2998728882145948E-2},{"$f":"'Page 308'!E66-'Page 308'!E$6","v":2.2002576986505586E-3},{"$f":"'Page 308'!F66-'Page 308'!F$6","v":-1.4361900832325221E-2},{"$f":"'Page 308'!G66-'Page 308'!G$6","v":-3.3286044287699094E-2},{"$f":"'Page 308'!H66-'Page 308'!H$6","v":4.3407131135937652E-2},{"$f":"'Page 308'!I66-'Page 308'!I$6","v":4.7651673947546672E-2},{"$f":"'Page 308'!J66-'Page 308'!J$6","v":2.6997030613942354E-2},{"$f":"'Page 308'!K66-'Page 308'!K$6","v":2.0670912371711436E-2}]
["2006-04-03",{"$f":"'Page 308'!B67-'Page 308'!B$6","v":8.1959600523664883E-2},{"$f":"'Page 308'!C67-'Page 308'!C$6","v":-5.3734631514201638E-2},{"$f":"'Page 308'!D67-'Page 308'!D$6","v":4.9720738782580355E-2},{"$f":"'Page 308'!E67-'Page 308'!E$6","v":-1.6186957901974761E-2},{"$f":"'Page 308'!F67-'Page 308'!F$6","v":2.1367543529866615E-2},{"$f":"'Page 308'!G67-'Page 308'!G$6","v":1.7745082259640471E-2},{"$f":"'Page 308'!H67-'Page 308'!H$6","v":0.10179391393637986},{"$f":"'Page 308'!I67-'Page 308'!I$6","v":4.3402448194707122E-2},{"$f":"'Page 308'!J67-'Page 308'!J$6","v":-1.7714563479250937E-2},{"$f":"'Page 308'!K67-'Page 308'!K$6","v":0.1135876203015809}]
["2006-05-01",{"$f":"'Page 308'!B68-'Page 308'!B$6","v":0.18137350285328127},{"$f":"'Page 308'!C68-'Page 308'!C$6","v":-4.2403899718764168E-2},{"$f":"'Page 308'!D68-'Page 308'!D$6","v":-6.0810507663266816E-2},{"$f":"'Page 308'!E68-'Page 308'!E$6","v":-5.7779226577589146E-3},{"$f":"'Page 308'!F68-'Page 308'!F$6","v":-2.1778157917824618E-2},{"$f":"'Page 308'!G68-'Page 308'!G$6","v":1.9339711243681282E-3},{"$f":"'Page 308'!H68-'Page 308'!H$6","v":-5.6666776892449748E-2},{"$f":"'Page 308'!I68-'Page 308'!I$6","v":-2.8344293005942395E-2},{"$f":"'Page 308'!J68-'Page 308'!J$6","v":-1.6463404540036471E-2},{"$f":"'Page 308'!K68-'Page 308'!K$6","v":-2.3135959195666821E-2}]
["2006-06-01",{"$f":"'Page 308'!B69-'Page 308'!B$6","v":0.10966571153131739},{"$f":"'Page 308'!C69-'Page 308'!C$6","v":-5.52152642086522E-2},{"$f":"'Page 308'!D69-'Page 308'!D$6","v":-5.1271691267530464E-2},{"$f":"'Page 308'!E69-'Page 308'!E$6","v":-2.2066577002412331E-2},{"$f":"'Page 308'!F69-'Page 308'!F$6","v":1.5418172407902855E-2},{"$f":"'Page 308'!G69-'Page 308'!G$6","v":-2.9429618390646319E-2},{"$f":"'Page 308'!H69-'Page 308'!H$6","v":2.1780047516725166E-2},{"$f":"'Page 308'!I69-'Page 308'!I$6","v":-2.2400529021187329E-2},{"$f":"'Page 308'!J69-'Page 308'!J$6","v":9.5657591819383353E-2},{"$f":"'Page 308'!K69-'Page 308'!K$6","v":-4.2636347082901045E-2}]

{"sheet":"Page 312","index":4,"n_rows":61,"n_cols":13,"rows_kept":61,"cut":false,"hidden":false,"merged":[[0,0,0,12],[49,0,49,10],[8,0,8,10]]}
[{"$f":"\"SUPER DUPER BENCHMARK PORTFOLIO—NAIVE OPTIMIZATION WITH\"&CHAR(10)&\"SHRUNK VARIANCE-COVARIANCE MATRIX\"","v":"SUPER DUPER BENCHMARK PORTFOLIO—NAIVE OPTIMIZATION WITH\nSHRUNK VARIANCE-COVARIANCE MATRIX"}]
[null,"General Motors\nGM","Home Depot\nHD","International paper\nIP","Hewlett-Packard\nHPQ","Altria\nMO","American Express\nAXP","Alcoa Aluminum\nAA","DuPont\nDD","Merck\nMRK","MMM"]
["Market cap (billion $)",16.850000000000001,73.98,15.92,88.37,153.33000000000001,65.66,28.16,38.32,79.510000000000005,60.9]
["Benchmark proportion",2.7133655394524961E-2,0.11913043478260871,2.5636070853462159E-2,0.14230273752012884,0.2469082125603865,0.10573268921095008,4.5346215780998393E-2,6.1706924315619971E-2,0.1280354267310789,9.8067632850241546E-2]
[]
["Variance-covariance matrix of excess returns"]
["Shrinkage factor, l",0.3,"<-- Weight on sample var-cov matrix"]
[]
[{"$f":"\"The matrix below is a weighted combination of the sample variance-covariance matrix and a pure diagonal matrix of only variances. \"&ggetformula(B11)","v":"The matrix below is a weighted combination of the sample variance-covariance matrix and a pure diagonal matrix of only variances. {=B7*B39:K48+(1-B7)*B52:K61}"}]
[null,"GM","HD","IP","HPQ","MO","AXP","AA","DD","MRK","MMM",null,"Mean\nreturn"]
["GM",{"$f":"B7*B39:K48+(1-B7)*B52:K61","v":1.1827887290127072E-2},9.185089916388618E-4,7.0945942804636253E-4,1.2561986804895985E-3,4.0915143622539626E-4,9.893160330652817E-4,1.3910263110660937E-3,5.5160754756908845E-4,2.941940520507294E-4,4.1481220811861883E-4,null,{"$f":"'Page 310'!M8:M17","v":-8.7338516296339343E-3}]
["HD",9.185089916388618E-4,7.1915538852237292E-3,5.6161068400643237E-4,1.2801399212825925E-3,6.729904924634158E-4,9.9990579946284807E-4,1.3755213997369495E-3,6.1142802589210434E-4,5.3856210188201717E-5,5.396186444741938E-4,null,-3.912585257124279E-3]
["IP",7.0945942804636253E-4,5.6161068400643237E-4,3.9512157747363125E-3,9.4115162244370995E-4,2.6278959037381114E-5,7.0577344687345505E-4,1.3032441339308747E-3,6.2891588822864295E-4,3.622140330151739E-4,4.8160683431722288E-4,null,5.6680525235541432E-4]
["HPQ",1.2561986804895985E-3,1.2801399212825925E-3,9.4115162244370995E-4,1.1872189456048055E-2,7.699375924558261E-4,1.4763640275926291E-3,1.8153228680312633E-3,9.9414176569237824E-4,5.9312608597812027E-4,6.6898785087087474E-4,null,2.9945591784535926E-3]
["MO",4.0915143622539626E-4,6.729904924634158E-4,2.6278959037381114E-5,7.699375924558261E-4,7.7116078032911737E-3,4.8495270130675282E-4,5.4385142648616218E-4,2.680031551706116E-4,2.0462670794549957E-4,2.419297133045996E-4,null,1.0657665224744494E-2]
["AXP",9.893160330652817E-4,9.9990579946284807E-4,7.0577344687345505E-4,1.4763640275926291E-3,4.8495270130675282E-4,4.204640221937052E-3,1.1297168935216425E-3,5.8328149641235659E-4,3.2238362565945559E-4,4.1248271263584989E-4,null,8.2352946572464818E-3]
["AA",1.3910263110660937E-3,1.3755213997369495E-3,1.3032441339308747E-3,1.8153228680312633E-3,5.4385142648616218E-4,1.1297168935216425E-3,9.262545394167758E-3,1.2237679398229774E-3,5.3844634783307868E-4,7.293906303527457E-4,null,-1.8043520930813397E-3]
["DD",5.5160754756908845E-4,6.1142802589210434E-4,6.2891588822864295E-4,9.9414176569237824E-4,2.680031551706116E-4,5.8328149641235659E-4,1.2237679398229774E-3,3.8146341307680812E-3,4.9520503732756029E-4,5.7982676095683419E-4,null,2.9098702286280479E-4]
["MRK",2.941940520507294E-4,5.3856210188201717E-5,3.622140330151739E-4,5.9312608597812027E-4,2.0462670794549957E-4,3.2238362565945559E-4,5.3844634783307868E-4,4.9520503732756029E-4,6.610491527312733E-3,1.4687619475102062E-4,null,-5.5220323858443934E-3]
["MMM",4.1481220811861883E-4,5.396186444741938E-4,4.8160683431722288E-4,6.6898785087087474E-4,2.419297133045996E-4,4.1248271263584989E-4,7.293906303527457E-4,5.7982676095683419E-4,1.4687619475102062E-4,3.1163665708069293E-3,null,7.4809905230536237E-3]
[]
["Current T-bill rate",{"$f":"4.83%/12","v":4.0249999999999999E-3},{"$f":"getformula(B22)","v":"<--  =4.83%/12"}]
[]
["\"Optimal\" portfolio"]
["GM",{"$f":"MMULT(MINVERSE(B11:K20),M11:M20-B22)/SUM(MMULT(MINVERSE(B11:K20),M11:M20-B22))","v":0.84296744309121741},{"$f":"getformula(B25)","v":"<--  {=MMULT(MINVERSE(B11:K20),M11:M20-B22)/SUM(MMULT(MINVERSE(B11:K20),M11:M20-B22))}"}]
["HD",0.96399838555647788]
["IP",0.50236482405401572]
["HPQ",-3.5583775075881029E-2]
["MO",-0.76136982416419774]
["AXP",-1.3458935111579617]
["AA",0.32517296671124984]
["DD",0.62549157697551083]
["MRK",1.1212519689377074]
["MMM",-1.2384000549281384]
["Sum of proportions",{"$f":"SUM(B25:B34)","v":1},{"$f":"getformula(B35)","v":"<--  =SUM(B25:B34)"}]
[]
["Variance-covariance matrix of excess returns"]
[null,"GM","HD","IP","HPQ","MO","AXP","AA","DD","MRK","MMM"]
["GM",{"$f":"'Page 310'!B8:K17","v":1.1827887290127072E-2},3.0616966387962061E-3,2.3648647601545417E-3,4.1873289349653288E-3,1.3638381207513209E-3,3.2977201102176055E-3,4.6367543702203126E-3,1.8386918252302948E-3,9.8064684016909809E-4,1.3827073603953962E-3]
["HD",3.0616966387962061E-3,7.1915538852237301E-3,1.8720356133547745E-3,4.2671330709419756E-3,2.2433016415447193E-3,3.333019331542827E-3,4.5850713324564986E-3,2.038093419640348E-3,1.7952070062733907E-4,1.7987288149139793E-3]
["IP",2.3648647601545417E-3,1.8720356133547745E-3,3.9512157747363125E-3,3.1371720748123665E-3,8.7596530124603713E-5,2.3525781562448501E-3,4.3441471131029155E-3,2.0963862940954767E-3,1.2073801100505796E-3,1.605356114390743E-3]
["HPQ",4.1873289349653288E-3,4.2671330709419756E-3,3.1371720748123665E-3,1.1872189456048057E-2,2.5664586415194202E-3,4.9212134253087637E-3,6.051076226770878E-3,3.3138058856412612E-3,1.977086953260401E-3,2.229959502902916E-3]
["MO",1.3638381207513209E-3,2.2433016415447193E-3,8.7596530124603713E-5,2.5664586415194202E-3,7.7116078032911737E-3,1.6165090043558429E-3,1.8128380882872074E-3,8.9334385056870531E-4,6.8208902648499864E-4,8.0643237768199868E-4]
["AXP",3.2977201102176055E-3,3.333019331542827E-3,2.3525781562448501E-3,4.9212134253087637E-3,1.6165090043558429E-3,4.204640221937052E-3,3.7657229784054756E-3,1.9442716547078552E-3,1.0746120855315187E-3,1.374942375452833E-3]
["AA",4.6367543702203126E-3,4.5850713324564986E-3,4.3441471131029155E-3,6.051076226770878E-3,1.8128380882872074E-3,3.7657229784054756E-3,9.262545394167758E-3,4.0792264660765914E-3,1.7948211594435955E-3,2.4313021011758192E-3]
["DD",1.8386918252302948E-3,2.038093419640348E-3,2.0963862940954767E-3,3.3138058856412612E-3,8.9334385056870531E-4,1.9442716547078552E-3,4.0792264660765914E-3,3.8146341307680812E-3,1.6506834577585342E-3,1.932755869856114E-3]
["MRK",9.8064684016909809E-4,1.7952070062733907E-4,1.2073801100505796E-3,1.977086953260401E-3,6.8208902648499864E-4,1.0746120855315187E-3,1.7948211594435955E-3,1.6506834577585342E-3,6.610491527312733E-3,4.8958731583673544E-4]
["MMM",1.3827073603953962E-3,1.7987288149139793E-3,1.605356114390743E-3,2.229959502902916E-3,8.0643237768199868E-4,1.374942375452833E-3,2.4313021011758192E-3,1.932755869856114E-3,4.8958731583673544E-4,3.1163665708069297E-3]
[]
[{"$f":"\"Pure diagonal matrix.  The array formula in the cells below produces a matrix with only variances on the diagonal and zero elsewhere. \"&ggetformula(B52)","v":"Pure diagonal matrix.  The array formula in the cells below produces a matrix with only variances on the diagonal and zero elsewhere. {=IF(B51:K51=A52:A61,B39:K48,0)}"}]
[null,"GM","HD","IP","HPQ","MO","AXP","AA","DD","MRK","MMM"]
["GM",{"$f":"IF(B51:K51=A52:A61,B39:K48,0)","v":1.1827887290127072E-2},0,0,0,0,0,0,0,0,0]
["HD",0,7.1915538852237301E-3,0,0,0,0,0,0,0,0]
["IP",0,0,3.9512157747363125E-3,0,0,0,0,0,0,0]
["HPQ",0,0,0,1.1872189456048057E-2,0,0,0,0,0,0]
["MO",0,0,0,0,7.7116078032911737E-3,0,0,0,0,0]
["AXP",0,0,0,0,0,4.204640221937052E-3,0,0,0,0]
["AA",0,0,0,0,0,0,9.262545394167758E-3,0,0,0]
["DD",0,0,0,0,0,0,0,3.8146341307680812E-3,0,0]
["MRK",0,0,0,0,0,0,0,0,6.610491527312733E-3,0]
["MMM",0,0,0,0,0,0,0,0,0,3.1163665708069297E-3]

{"sheet":"Page 314","index":5,"n_rows":37,"n_cols":13,"rows_kept":37,"cut":false,"hidden":false,"merged":[[0,0,0,12],[21,7,23,11]]}
["SUPER DUPER BENCHMARK PORTFOLIO—WHAT DOES THE MARKET THINK?\nNo normalizing factor"]
["Anticipated benchmark return",{"$f":"12%/12","v":0.01},{"$f":"getformula(B2)","v":"<--  =12%/12"}]
["Current T-bill rate",{"$f":"'Page 310'!B19","v":4.0249999999999999E-3}]
[]
[null,"General Motors\nGM","Home Depot\nHD","International Paper\nIP","Hewlett-Packard\nHPQ","Altria\nMO","American Express\nAXP","Alcoa Aluminum\nAA","DuPont\nDD","Merck\nMRK","MMM"]
["Market cap (billion $)",16.850000000000001,73.98,15.92,88.37,153.33000000000001,65.66,28.16,38.32,79.510000000000005,60.9]
["Benchmark proportions",2.7133655394524961E-2,0.11913043478260871,2.5636070853462159E-2,0.14230273752012884,0.2469082125603865,0.10573268921095008,4.5346215780998393E-2,6.1706924315619971E-2,0.1280354267310789,9.8067632850241546E-2]
[]
["Variance-covariance matrix"]
[null,"GM","HD","IP","HPQ","MO","AXP","AA","DD","MRK","MMM",null,"Without normalizing factor"]
["GM",{"$f":"'Page 310'!B8:K17","v":1.1827887290127072E-2},3.0616966387962061E-3,2.3648647601545417E-3,4.1873289349653288E-3,1.3638381207513209E-3,3.2977201102176055E-3,4.6367543702203126E-3,1.8386918252302948E-3,9.8064684016909809E-4,1.3827073603953962E-3,null,{"$f":"MMULT(B11:K20,TRANSPOSE(B7:K7)+B3)","v":2.7531066828728199E-3}]
["HD",3.0616966387962061E-3,7.1915538852237301E-3,1.8720356133547745E-3,4.2671330709419756E-3,2.2433016415447193E-3,3.333019331542827E-3,4.5850713324564986E-3,2.038093419640348E-3,1.7952070062733907E-4,1.7987288149139793E-3,null,3.1574300818686778E-3]
["IP",2.3648647601545417E-3,1.8720356133547745E-3,3.9512157747363125E-3,3.1371720748123665E-3,8.7596530124603713E-5,2.3525781562448501E-3,4.3441471131029155E-3,2.0963862940954767E-3,1.2073801100505796E-3,1.605356114390743E-3,null,1.8363018644743142E-3]
["HPQ",4.1873289349653288E-3,4.2671330709419756E-3,3.1371720748123665E-3,1.1872189456048057E-2,2.5664586415194202E-3,4.9212134253087637E-3,6.051076226770878E-3,3.3138058856412612E-3,1.977086953260401E-3,2.229959502902916E-3,null,4.6757546104387905E-3]
["MO",1.3638381207513209E-3,2.2433016415447193E-3,8.7596530124603713E-5,2.5664586415194202E-3,7.7116078032911737E-3,1.6165090043558429E-3,1.8128380882872074E-3,8.9334385056870531E-4,6.8208902648499864E-4,8.0643237768199868E-4,null,3.1300662607285181E-3]
["AXP",3.2977201102176055E-3,3.333019331542827E-3,2.3525781562448501E-3,4.9212134253087637E-3,1.6165090043558429E-3,4.204640221937052E-3,3.7657229784054756E-3,1.9442716547078552E-3,1.0746120855315187E-3,1.374942375452833E-3,null,2.7662536322032882E-3]
["AA",4.6367543702203126E-3,4.5850713324564986E-3,4.3441471131029155E-3,6.051076226770878E-3,1.8128380882872074E-3,3.7657229784054756E-3,9.262545394167758E-3,4.0792264660765914E-3,1.7948211594435955E-3,2.4313021011758192E-3,null,3.8023435854942613E-3]
["DD",1.8386918252302948E-3,2.038093419640348E-3,2.0963862940954767E-3,3.3138058856412612E-3,8.9334385056870531E-4,1.9442716547078552E-3,4.0792264660765914E-3,3.8146341307680812E-3,1.6506834577585342E-3,1.932755869856114E-3,null,2.1603943420695324E-3]
["MRK",9.8064684016909809E-4,1.7952070062733907E-4,1.2073801100505796E-3,1.977086953260401E-3,6.8208902648499864E-4,1.0746120855315187E-3,1.7948211594435955E-3,1.6506834577585342E-3,6.610491527312733E-3,4.8958731583673544E-4,null,1.7869678575599714E-3]
["MMM",1.3827073603953962E-3,1.7987288149139793E-3,1.605356114390743E-3,2.229959502902916E-3,8.0643237768199868E-4,1.374942375452833E-3,2.4313021011758192E-3,1.932755869856114E-3,4.8958731583673544E-4,3.1163665708069297E-3,null,1.6216924880740006E-3]
[]
["Check:  The expected return\nof the benchmark?",{"$f":"MMULT(B7:K7,M11:M20)","v":2.9221825319675574E-3},{"$f":"getformula(B22)","v":"<--  {=MMULT(B7:K7,M11:M20)}"},null,null,null,null,{"$f":"\"Cells \"&CHAR(COLUMN(M11)+64)&ROW(M11)&\":\"&CHAR(COLUMN(M20)+64)&ROW(M20)&\" contain the array formula \"&ggetformula(M20)","v":"Cells M11:M20 contain the array formula {=MMULT(B11:K20,TRANSPOSE(B7:K7)+B3)}"}]
[]
[]
[]
["Additional check:\nOptimal portfolio"]
["GM",{"$f":"MMULT(MINVERSE(B11:K20),M11:M20-B3)/SUM(MMULT(MINVERSE(B11:K20),M11:M20-B3))","v":5.5287600430812905E-2},{"$f":"getformula(B27)","v":"<--  {=MMULT(MINVERSE(B11:K20),M11:M20-B3)/SUM(MMULT(MINVERSE(B11:K20),M11:M20-B3))}"}]
["HD",7.9525628455501166E-2]
["IP",0.53216886391094476]
["HPQ",-0.22941903119162835]
["MO",0.10458812406123641]
["AXP",0.13920229084303676]
["AA",-0.48326105582314238]
["DD",0.30121986178547455]
["MRK",0.15501224533282845]
["MMM",0.34567547219493572]
["Sum of proportions",{"$f":"SUM(B27:B36)","v":1},{"$f":"getformula(B37)","v":"<--  =SUM(B27:B36)"}]

{"sheet":"Page 316","index":6,"n_rows":38,"n_cols":13,"rows_kept":38,"cut":false,"hidden":false,"merged":[[0,0,0,12],[22,7,24,11],[26,0,26,1]]}
["SUPER DUPER BENCHMARK PORTFOLIO—WHAT DOES THE MARKET THINK?\nNormalizing factor computed in cell B4, based on anticipated benchmark return\nThe expected returns make the benchmark optimal"]
["Anticipated benchmark return",{"$f":"12%/12","v":0.01},{"$f":"getformula(B2)","v":"<--  =12%/12"}]
["Current T-bill rate",{"$f":"'Page 310'!B19","v":4.0249999999999999E-3}]
["Normalizing factor",{"$f":"(B2-B3)/MMULT(MMULT(B8:K8,B12:K21),TRANSPOSE(B8:K8))","v":2.1223467348055332},{"$f":"getformula(B4)","v":"<--  {=(B2-B3)/MMULT(MMULT(B8:K8,B12:K21),TRANSPOSE(B8:K8))}"}]
[]
[null,"General Motors\nGM","Home Depot\nHD","International Paper\nIP","Hewlett-Packard\nHPQ","Altria\nMO","American Express\nAXP","Alcoa Aluminum\nAA","DuPont\nDD","Merck\nMRK","MMM"]
["Market cap (billion $)",16.850000000000001,73.98,15.92,88.37,153.33000000000001,65.66,28.16,38.32,79.510000000000005,60.9]
["Benchmark proportions",2.7133655394524961E-2,0.11913043478260871,2.5636070853462159E-2,0.14230273752012884,0.2469082125603865,0.10573268921095008,4.5346215780998393E-2,6.1706924315619971E-2,0.1280354267310789,9.8067632850241546E-2]
[]
["Variance-covariance matrix"]
[null,"GM","HD","IP","HPQ","MO","AXP","AA","DD","MRK","MMM",null,"With normalizing factor"]
["GM",{"$f":"'Page 310'!B8:K17","v":1.1827887290127072E-2},3.0616966387962061E-3,2.3648647601545417E-3,4.1873289349653288E-3,1.3638381207513209E-3,3.2977201102176055E-3,4.6367543702203126E-3,1.8386918252302948E-3,9.8064684016909809E-4,1.3827073603953962E-3,null,{"$f":"(MMULT(B12:K21,TRANSPOSE(B8:K8))*B4)+B3","v":9.5695556806289443E-3}]
["HD",3.0616966387962061E-3,7.1915538852237301E-3,1.8720356133547745E-3,4.2671330709419756E-3,2.2433016415447193E-3,3.333019331542827E-3,4.5850713324564986E-3,2.038093419640348E-3,1.7952070062733907E-4,1.7987288149139793E-3,null,1.0465017543034116E-2]
["IP",2.3648647601545417E-3,1.8720356133547745E-3,3.9512157747363125E-3,3.1371720748123665E-3,8.7596530124603713E-5,2.3525781562448501E-3,4.3441471131029155E-3,2.0963862940954767E-3,1.2073801100505796E-3,1.605356114390743E-3,null,7.7256329954965928E-3]
["HPQ",4.1873289349653288E-3,4.2671330709419756E-3,3.1371720748123665E-3,1.1872189456048057E-2,2.5664586415194202E-3,4.9212134253087637E-3,6.051076226770878E-3,3.3138058856412612E-3,1.977086953260401E-3,2.229959502902916E-3,null,1.3568233600962154E-2]
["MO",1.3638381207513209E-3,2.2433016415447193E-3,8.7596530124603713E-5,2.5664586415194202E-3,7.7116078032911737E-3,1.6165090043558429E-3,1.8128380882872074E-3,8.9334385056870531E-4,6.8208902648499864E-4,8.0643237768199868E-4,null,1.0499082035422068E-2]
["AXP",3.2977201102176055E-3,3.333019331542827E-3,2.3525781562448501E-3,4.9212134253087637E-3,1.6165090043558429E-3,4.204640221937052E-3,3.7657229784054756E-3,1.9442716547078552E-3,1.0746120855315187E-3,1.374942375452833E-3,null,9.6577413090267617E-3]
["AA",4.6367543702203126E-3,4.5850713324564986E-3,4.3441471131029155E-3,6.051076226770878E-3,1.8128380882872074E-3,3.7657229784054756E-3,9.262545394167758E-3,4.0792264660765914E-3,1.7948211594435955E-3,2.4313021011758192E-3,null,1.1729586575864332E-2]
["DD",1.8386918252302948E-3,2.038093419640348E-3,2.0963862940954767E-3,3.3138058856412612E-3,8.9334385056870531E-4,1.9442716547078552E-3,4.0792264660765914E-3,3.8146341307680812E-3,1.6506834577585342E-3,1.932755869856114E-3,null,8.4084879918391725E-3]
["MRK",9.8064684016909809E-4,1.7952070062733907E-4,1.2073801100505796E-3,1.977086953260401E-3,6.8208902648499864E-4,1.0746120855315187E-3,1.7948211594435955E-3,1.6506834577585342E-3,6.610491527312733E-3,4.8958731583673544E-4,null,7.6753599960958183E-3]
["MMM",1.3827073603953962E-3,1.7987288149139793E-3,1.605356114390743E-3,2.229959502902916E-3,8.0643237768199868E-4,1.374942375452833E-3,2.4313021011758192E-3,1.932755869856114E-3,4.8958731583673544E-4,3.1163665708069297E-3,null,7.3201358684277396E-3]
[]
["Check:  The expected return\nof the benchmark?",{"$f":"MMULT(B8:K8,M12:M21)","v":0.01},{"$f":"getformula(B23)","v":"<--  {=MMULT(B8:K8,M12:M21)}"},null,null,null,null,{"$f":"\"Cells \"&CHAR(COLUMN(M12)+64)&ROW(M12)&\":\"&CHAR(COLUMN(M21)+64)&ROW(M21)&\" contain the array formula \"&ggetformula(M21)","v":"Cells M12:M21 contain the array formula {=(MMULT(B12:K21,TRANSPOSE(B8:K8))*B4)+B3}"}]
[]
[]
[]
["Additional check:\nOptimal portfolio"]
["GM",{"$f":"MMULT(MINVERSE(B12:K21),M12:M21-B3)/SUM(MMULT(MINVERSE(B12:K21),M12:M21-B3))","v":2.7133655394524926E-2},{"$f":"getformula(B28)","v":"<--  {=MMULT(MINVERSE(B12:K21),M12:M21-B3)/SUM(MMULT(MINVERSE(B12:K21),M12:M21-B3))}"}]
["HD",0.11913043478260912]
["IP",2.5636070853462225E-2]
["HPQ",0.14230273752012879]
["MO",0.24690821256038639]
["AXP",0.10573268921094993]
["AA",4.5346215780998338E-2]
["DD",6.1706924315619818E-2]
["MRK",0.12803542673107901]
["MMM",9.8067632850241351E-2]
["Sum of proportions",{"$f":"SUM(B28:B37)","v":0.99999999999999989},{"$f":"getformula(B38)","v":"<--  =SUM(B28:B37)"}]

{"sheet":"Pages 317-18","index":7,"n_rows":34,"n_cols":12,"rows_kept":34,"cut":false,"hidden":false,"merged":[[28,5,33,7],[0,0,0,10]]}
["ADJUSTING THE BENCHMARK FOR AN ANALYST'S OPINION\nIn this example the only opinion is about GM"]
["Anticipated benchmark return",{"$f":"12%/12","v":0.01},{"$f":"getformula(B2)","v":"<--  =12%/12"}]
["Current T-bill rate",{"$f":"'Page 310'!B19","v":4.0249999999999999E-3}]
["Normalizing factor",{"$f":"(B2-B3)/MMULT(MMULT(B8:K8,B12:K21),TRANSPOSE(B8:K8))","v":2.1223467348055332},{"$f":"getformula(B4)","v":"<--  {=(B2-B3)/MMULT(MMULT(B8:K8,B12:K21),TRANSPOSE(B8:K8))}"}]
[]
[null,"General Motors\nGM","Home Depot\nHD","International Paper\nIP","Hewlett-Packard\nHPQ","Altria\nMO","American Express\nAXP","Alcoa Aluminum\nAA","DuPont\nDD","Merck\nMRK","MMM"]
["Market cap (billion $)",16.850000000000001,73.98,15.92,88.37,153.33000000000001,65.66,28.16,38.32,79.510000000000005,60.9]
["Benchmark proportions",2.7133655394524961E-2,0.11913043478260871,2.5636070853462159E-2,0.14230273752012884,0.2469082125603865,0.10573268921095008,4.5346215780998393E-2,6.1706924315619971E-2,0.1280354267310789,9.8067632850241546E-2]
[]
["Variance-covariance matrix"]
[null,"GM","HD","IP","HPQ","MO","AXP","AA","DD","MRK","MMM"]
["GM",{"$f":"'Page 310'!B8:K17","v":1.1827887290127072E-2},3.0616966387962061E-3,2.3648647601545417E-3,4.1873289349653288E-3,1.3638381207513209E-3,3.2977201102176055E-3,4.6367543702203126E-3,1.8386918252302948E-3,9.8064684016909809E-4,1.3827073603953962E-3]
["HD",3.0616966387962061E-3,7.1915538852237301E-3,1.8720356133547745E-3,4.2671330709419756E-3,2.2433016415447193E-3,3.333019331542827E-3,4.5850713324564986E-3,2.038093419640348E-3,1.7952070062733907E-4,1.7987288149139793E-3]
["IP",2.3648647601545417E-3,1.8720356133547745E-3,3.9512157747363125E-3,3.1371720748123665E-3,8.7596530124603713E-5,2.3525781562448501E-3,4.3441471131029155E-3,2.0963862940954767E-3,1.2073801100505796E-3,1.605356114390743E-3]
["HPQ",4.1873289349653288E-3,4.2671330709419756E-3,3.1371720748123665E-3,1.1872189456048057E-2,2.5664586415194202E-3,4.9212134253087637E-3,6.051076226770878E-3,3.3138058856412612E-3,1.977086953260401E-3,2.229959502902916E-3]
["MO",1.3638381207513209E-3,2.2433016415447193E-3,8.7596530124603713E-5,2.5664586415194202E-3,7.7116078032911737E-3,1.6165090043558429E-3,1.8128380882872074E-3,8.9334385056870531E-4,6.8208902648499864E-4,8.0643237768199868E-4]
["AXP",3.2977201102176055E-3,3.333019331542827E-3,2.3525781562448501E-3,4.9212134253087637E-3,1.6165090043558429E-3,4.204640221937052E-3,3.7657229784054756E-3,1.9442716547078552E-3,1.0746120855315187E-3,1.374942375452833E-3]
["AA",4.6367543702203126E-3,4.5850713324564986E-3,4.3441471131029155E-3,6.051076226770878E-3,1.8128380882872074E-3,3.7657229784054756E-3,9.262545394167758E-3,4.0792264660765914E-3,1.7948211594435955E-3,2.4313021011758192E-3]
["DD",1.8386918252302948E-3,2.038093419640348E-3,2.0963862940954767E-3,3.3138058856412612E-3,8.9334385056870531E-4,1.9442716547078552E-3,4.0792264660765914E-3,3.8146341307680812E-3,1.6506834577585342E-3,1.932755869856114E-3]
["MRK",9.8064684016909809E-4,1.7952070062733907E-4,1.2073801100505796E-3,1.977086953260401E-3,6.8208902648499864E-4,1.0746120855315187E-3,1.7948211594435955E-3,1.6506834577585342E-3,6.610491527312733E-3,4.8958731583673544E-4]
["MMM",1.3827073603953962E-3,1.7987288149139793E-3,1.605356114390743E-3,2.229959502902916E-3,8.0643237768199868E-4,1.374942375452833E-3,2.4313021011758192E-3,1.932755869856114E-3,4.8958731583673544E-4,3.1163665708069297E-3]
[]
[]
["Expected benchmark returns, no opinions","Analyst\nopinion,\ndelta, d",null,"Returns\nadjusted for opinions",null,null,null,null,null,"Opinion-adjusted optimized portfolio",null,"Portfolio\nbenchmark, no opinions"]
[{"$f":"(MMULT(B12:K21,TRANSPOSE(B8:K8))*B4)+B3","v":9.5695556806289443E-3},1.4E-3,"GM",{"$f":"A25+B12/$B$12*$B$25","v":1.0969555680628944E-2},{"$f":"getformula(D25)","v":"<--  =A25+B12/$B$12*$B$25"},null,null,null,null,{"$f":"MMULT(MINVERSE(B12:K21),D25:D34-B3)/SUM(MMULT(MINVERSE(B12:K21),D25:D34-B3))","v":7.8524786727399723E-2},"GM",{"$f":"TRANSPOSE(B8:K8)","v":2.7133655394524961E-2}]
[1.0465017543034116E-2,0,"HD",{"$f":"A26+B13/$B$12*$B$25","v":1.0827413226149274E-2},{"$f":"getformula(D26)","v":"<--  =A26+B13/$B$12*$B$25"},null,null,null,null,0.11283743487198071,"HD",0.11913043478260871]
[7.7256329954965928E-3,0,"IP",8.0055486374878675E-3,{"$f":"getformula(D27)","v":"<--  =A27+B14/$B$12*$B$25"},null,null,null,null,2.428185946420577E-2,"IP",2.5636070853462159E-2]
[1.3568233600962154E-2,0,"HPQ",1.4063864000978291E-2,null,null,null,null,null,0.1347856734203422,"HPQ",0.14230273752012884]
[1.0499082035422068E-2,0,"MO",1.0660511826069941E-2,null,{"$f":"\"Cells \"&CHAR(COLUMN(J25)+64)&ROW(J25)&\":\"&CHAR(COLUMN(J34)+64)&ROW(J34)&\" contain the array formula \"&ggetformula(J25)","v":"Cells J25:J34 contain the array formula {=MMULT(MINVERSE(B12:K21),D25:D34-B3)/SUM(MMULT(MINVERSE(B12:K21),D25:D34-B3))}"},null,null,null,0.23386542158584403,"MO",0.2469082125603865]
[9.6577413090267617E-3,0,"AXP",1.00480737531107E-2,null,null,null,null,null,0.10014741786556132,"AXP",0.10573268921095008]
[1.1729586575864332E-2,0,"AA",1.2278412918141617E-2,null,null,null,null,null,4.2950826790956256E-2,"AA",4.5346215780998393E-2]
[8.4084879918391725E-3,0,"DD",8.6261235248959612E-3,null,null,null,null,null,5.8447289866103182E-2,"DD",6.1706924315619971E-2]
[7.6753599960958183E-3,0,"MRK",7.7914336060787882E-3,null,null,null,null,null,0.12127202550244881,"MRK",0.1280354267310789]
[7.3201358684277396E-3,0,"MMM",7.4837991040564208E-3,null,null,null,null,null,9.2887263905157919E-2,"MMM",9.8067632850241546E-2]

{"sheet":"Page 318, galleys","index":8,"n_rows":34,"n_cols":12,"rows_kept":34,"cut":false,"hidden":false,"merged":[[0,0,0,10],[28,5,33,7]]}
["ADJUSTING THE BENCHMARK FOR AN ANALYST'S OPINION\nIn this example the only opinion is about GM"]
["Anticipated benchmark return",{"$f":"12%/12","v":0.01},{"$f":"getformula(B2)","v":"<--  =12%/12"}]
["Current T-bill rate",{"$f":"'Page 310'!B19","v":4.0249999999999999E-3}]
["Normalizing factor",{"$f":"(B2-B3)/MMULT(MMULT(B8:K8,B12:K21),TRANSPOSE(B8:K8))","v":2.1223467348055332},{"$f":"getformula(B4)","v":"<--  {=(B2-B3)/MMULT(MMULT(B8:K8,B12:K21),TRANSPOSE(B8:K8))}"}]
[]
[null,"General Motors\nGM","Home Depot\nHD","International Paper\nIP","Hewlett-Packard\nHPQ","Altria\nMO","American Express\nAXP","Alcoa Aluminum\nAA","DuPont\nDD","Merck\nMRK","MMM"]
["Market cap (billion $)",16.850000000000001,73.98,15.92,88.37,153.33000000000001,65.66,28.16,38.32,79.510000000000005,60.9]
["Benchmark proportions",2.7133655394524961E-2,0.11913043478260871,2.5636070853462159E-2,0.14230273752012884,0.2469082125603865,0.10573268921095008,4.5346215780998393E-2,6.1706924315619971E-2,0.1280354267310789,9.8067632850241546E-2]
[]
["Variance-covariance matrix"]
[null,"GM","HD","IP","HPQ","MO","AXP","AA","DD","MRK","MMM"]
["GM",{"$f":"'Page 310'!B8:K17","v":1.1827887290127072E-2},3.0616966387962061E-3,2.3648647601545417E-3,4.1873289349653288E-3,1.3638381207513209E-3,3.2977201102176055E-3,4.6367543702203126E-3,1.8386918252302948E-3,9.8064684016909809E-4,1.3827073603953962E-3]
["HD",3.0616966387962061E-3,7.1915538852237301E-3,1.8720356133547745E-3,4.2671330709419756E-3,2.2433016415447193E-3,3.333019331542827E-3,4.5850713324564986E-3,2.038093419640348E-3,1.7952070062733907E-4,1.7987288149139793E-3]
["IP",2.3648647601545417E-3,1.8720356133547745E-3,3.9512157747363125E-3,3.1371720748123665E-3,8.7596530124603713E-5,2.3525781562448501E-3,4.3441471131029155E-3,2.0963862940954767E-3,1.2073801100505796E-3,1.605356114390743E-3]
["HPQ",4.1873289349653288E-3,4.2671330709419756E-3,3.1371720748123665E-3,1.1872189456048057E-2,2.5664586415194202E-3,4.9212134253087637E-3,6.051076226770878E-3,3.3138058856412612E-3,1.977086953260401E-3,2.229959502902916E-3]
["MO",1.3638381207513209E-3,2.2433016415447193E-3,8.7596530124603713E-5,2.5664586415194202E-3,7.7116078032911737E-3,1.6165090043558429E-3,1.8128380882872074E-3,8.9334385056870531E-4,6.8208902648499864E-4,8.0643237768199868E-4]
["AXP",3.2977201102176055E-3,3.333019331542827E-3,2.3525781562448501E-3,4.9212134253087637E-3,1.6165090043558429E-3,4.204640221937052E-3,3.7657229784054756E-3,1.9442716547078552E-3,1.0746120855315187E-3,1.374942375452833E-3]
["AA",4.6367543702203126E-3,4.5850713324564986E-3,4.3441471131029155E-3,6.051076226770878E-3,1.8128380882872074E-3,3.7657229784054756E-3,9.262545394167758E-3,4.0792264660765914E-3,1.7948211594435955E-3,2.4313021011758192E-3]
["DD",1.8386918252302948E-3,2.038093419640348E-3,2.0963862940954767E-3,3.3138058856412612E-3,8.9334385056870531E-4,1.9442716547078552E-3,4.0792264660765914E-3,3.8146341307680812E-3,1.6506834577585342E-3,1.932755869856114E-3]
["MRK",9.8064684016909809E-4,1.7952070062733907E-4,1.2073801100505796E-3,1.977086953260401E-3,6.8208902648499864E-4,1.0746120855315187E-3,1.7948211594435955E-3,1.6506834577585342E-3,6.610491527312733E-3,4.8958731583673544E-4]
["MMM",1.3827073603953962E-3,1.7987288149139793E-3,1.605356114390743E-3,2.229959502902916E-3,8.0643237768199868E-4,1.374942375452833E-3,2.4313021011758192E-3,1.932755869856114E-3,4.8958731583673544E-4,3.1163665708069297E-3]
[]
[]
["Expected benchmark returns, no opinions","Analyst\nopinion,\ndelta, d",null,"Returns\nadjusted for opinions",null,null,null,null,null,"Opinion-adjusted optimized portfolio",null,"Portfolio\nbenchmark, no opinions"]
[{"$f":"(MMULT(B12:K21,TRANSPOSE(B8:K8))*B4)+B3","v":9.5695556806289443E-3},1.4E-3,"GM",{"$f":"A25+B12/$B$12*$B$25","v":1.0969555680628944E-2},{"$f":"getformula(D25)","v":"<--  =A25+B12/$B$12*$B$25"},null,null,null,null,{"$f":"MMULT(MINVERSE(B12:K21),D25:D34-B3)/SUM(MMULT(MINVERSE(B12:K21),D25:D34-B3))","v":7.8524786727399723E-2},"GM",{"$f":"TRANSPOSE(B8:K8)","v":2.7133655394524961E-2}]
[1.0465017543034116E-2,0,"HD",{"$f":"A26+B13/$B$12*$B$25","v":1.0827413226149274E-2},{"$f":"getformula(D26)","v":"<--  =A26+B13/$B$12*$B$25"},null,null,null,null,0.11283743487198071,"HD",0.11913043478260871]
[7.7256329954965928E-3,0,"IP",8.0055486374878675E-3,{"$f":"getformula(D27)","v":"<--  =A27+B14/$B$12*$B$25"},null,null,null,null,2.428185946420577E-2,"IP",2.5636070853462159E-2]
[1.3568233600962154E-2,0,"HPQ",1.4063864000978291E-2,null,null,null,null,null,0.1347856734203422,"HPQ",0.14230273752012884]
[1.0499082035422068E-2,0,"MO",1.0660511826069941E-2,null,{"$f":"\"Cells \"&CHAR(COLUMN(J25)+64)&ROW(J25)&\":\"&CHAR(COLUMN(J34)+64)&ROW(J34)&\" contain the array formula \"&ggetformula(J25)","v":"Cells J25:J34 contain the array formula {=MMULT(MINVERSE(B12:K21),D25:D34-B3)/SUM(MMULT(MINVERSE(B12:K21),D25:D34-B3))}"},null,null,null,0.23386542158584403,"MO",0.2469082125603865]
[9.6577413090267617E-3,0,"AXP",1.00480737531107E-2,null,null,null,null,null,0.10014741786556132,"AXP",0.10573268921095008]
[1.1729586575864332E-2,0,"AA",1.2278412918141617E-2,null,null,null,null,null,4.2950826790956256E-2,"AA",4.5346215780998393E-2]
[8.4084879918391725E-3,0,"DD",8.6261235248959612E-3,null,null,null,null,null,5.8447289866103182E-2,"DD",6.1706924315619971E-2]
[7.6753599960958183E-3,0,"MRK",7.7914336060787882E-3,null,null,null,null,null,0.12127202550244881,"MRK",0.1280354267310789]
[7.3201358684277396E-3,0,"MMM",7.4837991040564208E-3,null,null,null,null,null,9.2887263905157919E-2,"MMM",9.8067632850241546E-2]

{"sheet":"Page 321","index":9,"n_rows":39,"n_cols":11,"rows_kept":39,"cut":false,"hidden":false,"merged":[[0,0,0,10],[13,1,13,10]]}
["BLACK-LITTERMAN TRACKING MATRIX\nTracking factors = cov(i,j)/var(i)"]
["Tracking matrix"]
[null,"GM","HD","IP","HPQ","MO","AXP","AA","DD","MRK","MMM"]
["GM",{"$f":"bltracking(B18:K27)","v":1},0.25885405936796957,0.19993974427948197,0.35402171429724055,0.11530699331990917,0.27880888863138437,0.39201881591234694,0.15545395218341998,8.2909721416407123E-2,0.11690231116334396]
["HD",0.42573506194356442,1,0.26031030890294654,0.5933534169450535,0.31193559519229408,0.46346302686976759,0.63756337025817289,0.2834009801175178,2.4962713690596806E-2,0.25011685146512957]
["IP",0.59851572148381671,0.47378723918961529,1,0.79397639958595478,2.2169513162173367E-2,0.59540614594804087,1.0994456797016674,0.53056740345580866,0.30557179837417386,0.40629421573360613]
["HPQ",0.35270064973838294,0.35942258896215368,0.26424545248595194,1,0.21617399646633736,0.41451607923943184,0.50968494473344805,0.27912339993471946,0.16653094701527124,0.18783051863840552]
["MO",0.17685522339054374,0.29089934275279394,1.135904889862515E-2,0.33280461182480031,1,0.20962023038385669,0.23507913453709628,0.11584404619065851,8.8449651990068198E-2,0.10457383184578294]
["AXP",0.78430494314644739,0.79270024439982301,0.55951949086407959,1.1704243801010852,0.38445834103045495,1,0.89561122465565679,0.46241094411929046,0.25557765440308028,0.3270059512534001]
["AA",0.50059181066360925,0.49501202286614743,0.46900143839923802,0.65328438018570911,0.19571705304987511,0.40655379468116787,1,0.44040015918789577,0.19377191506923358,0.26248746944945711]
["DD",0.48201000730313082,0.53428280400510531,0.54956418419959108,0.86870870758292684,0.23418860628419677,0.5096875841973274,1.0693624411249196,1,0.43272392611507599,0.50666874033000675]
["MRK",0.14834703835824237,2.7156936800479797E-2,0.18264604153292036,0.2990831990467912,0.1031828001997725,0.16256160091749866,0.27151099914853355,0.24970661424167387,1,7.4062165243521647E-2]
["MMM",0.44369214242898514,0.57718781601749414,0.51513712456974003,0.71556392748928321,0.25877327309193504,0.44120046349259073,0.78017205162943182,0.62019529023367104,0.15710196625230941,1]
[null,{"$f":"getformula(B13)","v":"<--  {=bltracking(B18:K27)}"}]
[]
["Variance-covariance matrix"]
[null,"GM","HD","IP","HPQ","MO","AXP","AA","DD","MRK","MMM"]
["GM",{"$f":"'Page 310'!B8:K17","v":1.1827887290127072E-2},3.0616966387962061E-3,2.3648647601545417E-3,4.1873289349653288E-3,1.3638381207513209E-3,3.2977201102176055E-3,4.6367543702203126E-3,1.8386918252302948E-3,9.8064684016909809E-4,1.3827073603953962E-3]
["HD",3.0616966387962061E-3,7.1915538852237301E-3,1.8720356133547745E-3,4.2671330709419756E-3,2.2433016415447193E-3,3.333019331542827E-3,4.5850713324564986E-3,2.038093419640348E-3,1.7952070062733907E-4,1.7987288149139793E-3]
["IP",2.3648647601545417E-3,1.8720356133547745E-3,3.9512157747363125E-3,3.1371720748123665E-3,8.7596530124603713E-5,2.3525781562448501E-3,4.3441471131029155E-3,2.0963862940954767E-3,1.2073801100505796E-3,1.605356114390743E-3]
["HPQ",4.1873289349653288E-3,4.2671330709419756E-3,3.1371720748123665E-3,1.1872189456048057E-2,2.5664586415194202E-3,4.9212134253087637E-3,6.051076226770878E-3,3.3138058856412612E-3,1.977086953260401E-3,2.229959502902916E-3]
["MO",1.3638381207513209E-3,2.2433016415447193E-3,8.7596530124603713E-5,2.5664586415194202E-3,7.7116078032911737E-3,1.6165090043558429E-3,1.8128380882872074E-3,8.9334385056870531E-4,6.8208902648499864E-4,8.0643237768199868E-4]
["AXP",3.2977201102176055E-3,3.333019331542827E-3,2.3525781562448501E-3,4.9212134253087637E-3,1.6165090043558429E-3,4.204640221937052E-3,3.7657229784054756E-3,1.9442716547078552E-3,1.0746120855315187E-3,1.374942375452833E-3]
["AA",4.6367543702203126E-3,4.5850713324564986E-3,4.3441471131029155E-3,6.051076226770878E-3,1.8128380882872074E-3,3.7657229784054756E-3,9.262545394167758E-3,4.0792264660765914E-3,1.7948211594435955E-3,2.4313021011758192E-3]
["DD",1.8386918252302948E-3,2.038093419640348E-3,2.0963862940954767E-3,3.3138058856412612E-3,8.9334385056870531E-4,1.9442716547078552E-3,4.0792264660765914E-3,3.8146341307680812E-3,1.6506834577585342E-3,1.932755869856114E-3]
["MRK",9.8064684016909809E-4,1.7952070062733907E-4,1.2073801100505796E-3,1.977086953260401E-3,6.8208902648499864E-4,1.0746120855315187E-3,1.7948211594435955E-3,1.6506834577585342E-3,6.610491527312733E-3,4.8958731583673544E-4]
["MMM",1.3827073603953962E-3,1.7987288149139793E-3,1.605356114390743E-3,2.229959502902916E-3,8.0643237768199868E-4,1.374942375452833E-3,2.4313021011758192E-3,1.932755869856114E-3,4.8958731583673544E-4,3.1163665708069297E-3]
[]
["Checking the tracking matrix"]
["GM",{"$f":"B18/$B$18","v":1},{"$f":"C18/$C$19","v":0.42573506194356442},{"$f":"getformula(C30)","v":"<--  =C18/$C$19"}]
["HD",{"$f":"B19/$B$18","v":0.25885405936796957},{"$f":"C19/$C$19","v":1},{"$f":"getformula(C31)","v":"<--  =C19/$C$19"}]
["IP",0.19993974427948197,0.26031030890294654,"<--  =C20/$C$19"]
["HPQ",0.35402171429724055,0.5933534169450535,"<--  =C21/$C$19"]
["MO",0.11530699331990917,0.31193559519229408,"<--  =C22/$C$19"]
["AXP",0.27880888863138437,0.46346302686976759,"<--  =C23/$C$19"]
["AA",0.39201881591234694,0.63756337025817289,"<--  =C24/$C$19"]
["DD",0.15545395218341998,0.2834009801175178,"<--  =C25/$C$19"]
["MRK",8.2909721416407123E-2,2.4962713690596806E-2,"<--  =C26/$C$19"]
["MMM",0.11690231116334396,0.25011685146512957,"<--  =C27/$C$19"]

{"sheet":"Page 322","index":10,"n_rows":47,"n_cols":12,"rows_kept":47,"cut":false,"hidden":false,"merged":[[0,0,0,10],[27,5,32,7]]}
["MULTIPLE OPINIONS:  ACCEPTING JOANNA'S DELTAS, BUT LETTING THEM INFLUENCE ALL THE RETURNS"]
["Anticipated benchmark return",{"$f":"12%/12","v":0.01},{"$f":"getformula(B2)","v":"<--  =12%/12"}]
["Current t-bill rate",{"$f":"'Page 310'!B19","v":4.0249999999999999E-3}]
[]
[null,"General Motors\nGM","Home Depot\nHD","International Paper\nIP","Hewlett-Packard\nHPQ","Altria\nMO","American Express\nAXP","Alcoa Aluminum\nAA","DuPont\nDD","Merck\nMRK","MMM"]
["Market cap (billion $)",16.850000000000001,73.98,15.92,88.37,153.33000000000001,65.66,28.16,38.32,79.510000000000005,60.9]
["Benchmark proportions",2.7133655394524961E-2,0.11913043478260871,2.5636070853462159E-2,0.14230273752012884,0.2469082125603865,0.10573268921095008,4.5346215780998393E-2,6.1706924315619971E-2,0.1280354267310789,9.8067632850241546E-2]
[]
["Variance-covariance matrix"]
[null,"GM","HD","IP","HPQ","MO","AXP","AA","DD","MRK","MMM"]
["GM",{"$f":"'Page 310'!B8:K17","v":1.1827887290127072E-2},3.0616966387962061E-3,2.3648647601545417E-3,4.1873289349653288E-3,1.3638381207513209E-3,3.2977201102176055E-3,4.6367543702203126E-3,1.8386918252302948E-3,9.8064684016909809E-4,1.3827073603953962E-3]
["HD",3.0616966387962061E-3,7.1915538852237301E-3,1.8720356133547745E-3,4.2671330709419756E-3,2.2433016415447193E-3,3.333019331542827E-3,4.5850713324564986E-3,2.038093419640348E-3,1.7952070062733907E-4,1.7987288149139793E-3]
["IP",2.3648647601545417E-3,1.8720356133547745E-3,3.9512157747363125E-3,3.1371720748123665E-3,8.7596530124603713E-5,2.3525781562448501E-3,4.3441471131029155E-3,2.0963862940954767E-3,1.2073801100505796E-3,1.605356114390743E-3]
["HPQ",4.1873289349653288E-3,4.2671330709419756E-3,3.1371720748123665E-3,1.1872189456048057E-2,2.5664586415194202E-3,4.9212134253087637E-3,6.051076226770878E-3,3.3138058856412612E-3,1.977086953260401E-3,2.229959502902916E-3]
["MO",1.3638381207513209E-3,2.2433016415447193E-3,8.7596530124603713E-5,2.5664586415194202E-3,7.7116078032911737E-3,1.6165090043558429E-3,1.8128380882872074E-3,8.9334385056870531E-4,6.8208902648499864E-4,8.0643237768199868E-4]
["AXP",3.2977201102176055E-3,3.333019331542827E-3,2.3525781562448501E-3,4.9212134253087637E-3,1.6165090043558429E-3,4.204640221937052E-3,3.7657229784054756E-3,1.9442716547078552E-3,1.0746120855315187E-3,1.374942375452833E-3]
["AA",4.6367543702203126E-3,4.5850713324564986E-3,4.3441471131029155E-3,6.051076226770878E-3,1.8128380882872074E-3,3.7657229784054756E-3,9.262545394167758E-3,4.0792264660765914E-3,1.7948211594435955E-3,2.4313021011758192E-3]
["DD",1.8386918252302948E-3,2.038093419640348E-3,2.0963862940954767E-3,3.3138058856412612E-3,8.9334385056870531E-4,1.9442716547078552E-3,4.0792264660765914E-3,3.8146341307680812E-3,1.6506834577585342E-3,1.932755869856114E-3]
["MRK",9.8064684016909809E-4,1.7952070062733907E-4,1.2073801100505796E-3,1.977086953260401E-3,6.8208902648499864E-4,1.0746120855315187E-3,1.7948211594435955E-3,1.6506834577585342E-3,6.610491527312733E-3,4.8958731583673544E-4]
["MMM",1.3827073603953962E-3,1.7987288149139793E-3,1.605356114390743E-3,2.229959502902916E-3,8.0643237768199868E-4,1.374942375452833E-3,2.4313021011758192E-3,1.932755869856114E-3,4.8958731583673544E-4,3.1163665708069297E-3]
[]
[]
["Expected benchmark returns, no opinions","Analyst\nopinion,\ndelta",null,"Monthly returns adjusted for opinions",null,null,null,null,null,"Opinion-adjusted optimized portfolio",null,"Portfolio\nbenchmark, no opinions"]
[{"$f":"(MMULT(B11:K20,TRANSPOSE(B7:K7))*(B2-B3)/MMULT(B7:K7,MMULT(B11:K20,TRANSPOSE(B7:K7))))+B3","v":9.5695556806289443E-3},{"$f":"MMULT(MINVERSE(tracking),D24:D33-A24:A33)","v":1.9404853622752953E-3},"GM",1.0999999999999999E-2,{"$f":"getformula(D24)","v":"<--  0.011"},null,null,null,null,{"$f":"MMULT(MINVERSE(B11:K20),D24:D33-B3)/SUM(MMULT(MINVERSE(B11:K20),D24:D33-B3))","v":0.103473560169533},"GM",{"$f":"TRANSPOSE(B7:K7)","v":2.7133655394524961E-2}]
[1.0465017543034114E-2,-8.7119088188148406E-4,"HD",0.01,{"$f":"getformula(D25)","v":"<--  0.01"},null,null,null,null,6.0422209211686138E-2,"HD",0.11913043478260871]
[7.7256329954965928E-3,-1.2687897482515124E-4,"IP",{"$f":"A26","v":7.7256329954965928E-3},{"$f":"getformula(D26)","v":"<--  =A26"},null,null,null,null,1.2824609235093605E-2,"IP",2.5636070853462159E-2]
[1.3568233600962151E-2,7.8971758478971829E-6,"HPQ",{"$f":"A27","v":1.3568233600962151E-2},{"$f":"getformula(D27)","v":"<--  =A27"},null,null,null,null,0.14088707074910731,"HPQ",0.14230273752012884]
[1.0499082035422068E-2,9.2906673109757881E-5,"MO",1.0499082035422068E-2,"<--  =A28",{"$f":"\"Cells \"&CHAR(COLUMN(J24)+64)&ROW(J24)&\":\"&CHAR(COLUMN(J33)+64)&ROW(J33)&\" contain the array formula \"&ggetformula(J24)","v":"Cells J24:J33 contain the array formula {=MMULT(MINVERSE(B11:K20),D24:D33-B3)/SUM(MMULT(MINVERSE(B11:K20),D24:D33-B3))}"},null,null,null,0.25068381318578498,"MO",0.2469082125603865]
[9.65774130902676E-3,-5.8344793855154514E-4,"AXP",9.65774130902676E-3,"<--  =A29",null,null,null,null,9.6451997542708653E-2,"AXP",0.10573268921095008]
[1.1729586575864332E-2,-3.992931088793206E-4,"AA",1.1729586575864332E-2,"<--  =A30",null,null,null,null,3.8790858451818615E-2,"AA",4.5346215780998393E-2]
[8.4084879918391708E-3,3.1815163918274208E-4,"DD",8.4084879918391708E-3,"<--  =A31",null,null,null,null,7.1631549178916398E-2,"DD",6.1706924315619971E-2]
[7.6753599960958175E-3,-1.3437008554326567E-4,"MRK",7.6753599960958175E-3,"<--  =A32",null,null,null,null,0.11911780482998655,"MRK",0.1280354267310789]
[7.3201358684277396E-3,7.0258508220503839E-5,"MMM",7.3201358684277396E-3,"<--  =A33",null,null,null,null,0.10571652744536462,"MMM",9.8067632850241546E-2]
[null,{"$f":"\" ↑ \"&ggetformula(B24)","v":" ↑ {=MMULT(MINVERSE(tracking),D24:D33-A24:A33)}"}]
[]
["Tracking matrix"]
[null,"GM","HD","IP","HPQ","MO","AXP","AA","DD","MRK","MMM"]
["GM",{"$f":"bltracking(B11:K20)","v":1},0.25885405936796957,0.19993974427948197,0.35402171429724055,0.11530699331990917,0.27880888863138437,0.39201881591234694,0.15545395218341998,8.2909721416407123E-2,0.11690231116334396]
["HD",0.42573506194356442,1,0.26031030890294654,0.5933534169450535,0.31193559519229408,0.46346302686976759,0.63756337025817289,0.2834009801175178,2.4962713690596806E-2,0.25011685146512957]
["IP",0.59851572148381671,0.47378723918961529,1,0.79397639958595478,2.2169513162173367E-2,0.59540614594804087,1.0994456797016674,0.53056740345580866,0.30557179837417386,0.40629421573360613]
["HPQ",0.35270064973838294,0.35942258896215368,0.26424545248595194,1,0.21617399646633736,0.41451607923943184,0.50968494473344805,0.27912339993471946,0.16653094701527124,0.18783051863840552]
["MO",0.17685522339054374,0.29089934275279394,1.135904889862515E-2,0.33280461182480031,1,0.20962023038385669,0.23507913453709628,0.11584404619065851,8.8449651990068198E-2,0.10457383184578294]
["AXP",0.78430494314644739,0.79270024439982301,0.55951949086407959,1.1704243801010852,0.38445834103045495,1,0.89561122465565679,0.46241094411929046,0.25557765440308028,0.3270059512534001]
["AA",0.50059181066360925,0.49501202286614743,0.46900143839923802,0.65328438018570911,0.19571705304987511,0.40655379468116787,1,0.44040015918789577,0.19377191506923358,0.26248746944945711]
["DD",0.48201000730313082,0.53428280400510531,0.54956418419959108,0.86870870758292684,0.23418860628419677,0.5096875841973274,1.0693624411249196,1,0.43272392611507599,0.50666874033000675]
["MRK",0.14834703835824237,2.7156936800479797E-2,0.18264604153292036,0.2990831990467912,0.1031828001997725,0.16256160091749866,0.27151099914853355,0.24970661424167387,1,7.4062165243521647E-2]
["MMM",0.44369214242898514,0.57718781601749414,0.51513712456974003,0.71556392748928321,0.25877327309193504,0.44120046349259073,0.78017205162943182,0.62019529023367104,0.15710196625230941,1]

{"sheet":"Page 323","index":11,"n_rows":47,"n_cols":12,"rows_kept":47,"cut":false,"hidden":false,"merged":[[0,0,0,10],[27,5,32,7],[23,4,25,7]]}
["MULTIPLE OPINIONS:  ACCEPTING JOANNA'S DELTAS, BUT LETTING THEM INFLUENCE ALL THE RETURNS"]
["Anticipated benchmark return",{"$f":"12%/12","v":0.01},{"$f":"getformula(B2)","v":"<--  =12%/12"}]
["Current t-bill rate",{"$f":"'Page 310'!B19","v":4.0249999999999999E-3}]
[]
[null,"General Motors\nGM","Home Depot\nHD","International Paper\nIP","Hewlett-Packard\nHPQ","Altria\nMO","American Express\nAXP","Alcoa Aluminum\nAA","DuPont\nDD","Merck\nMRK","MMM"]
["Market cap (billion $)",16.850000000000001,73.98,15.92,88.37,153.33000000000001,65.66,28.16,38.32,79.510000000000005,60.9]
["Benchmark proportions",2.7133655394524961E-2,0.11913043478260871,2.5636070853462159E-2,0.14230273752012884,0.2469082125603865,0.10573268921095008,4.5346215780998393E-2,6.1706924315619971E-2,0.1280354267310789,9.8067632850241546E-2]
[]
["Variance-covariance matrix"]
[null,"GM","HD","IP","HPQ","MO","AXP","AA","DD","MRK","MMM"]
["GM",{"$f":"'Page 310'!B8:K17","v":1.1827887290127072E-2},3.0616966387962061E-3,2.3648647601545417E-3,4.1873289349653288E-3,1.3638381207513209E-3,3.2977201102176055E-3,4.6367543702203126E-3,1.8386918252302948E-3,9.8064684016909809E-4,1.3827073603953962E-3]
["HD",3.0616966387962061E-3,7.1915538852237301E-3,1.8720356133547745E-3,4.2671330709419756E-3,2.2433016415447193E-3,3.333019331542827E-3,4.5850713324564986E-3,2.038093419640348E-3,1.7952070062733907E-4,1.7987288149139793E-3]
["IP",2.3648647601545417E-3,1.8720356133547745E-3,3.9512157747363125E-3,3.1371720748123665E-3,8.7596530124603713E-5,2.3525781562448501E-3,4.3441471131029155E-3,2.0963862940954767E-3,1.2073801100505796E-3,1.605356114390743E-3]
["HPQ",4.1873289349653288E-3,4.2671330709419756E-3,3.1371720748123665E-3,1.1872189456048057E-2,2.5664586415194202E-3,4.9212134253087637E-3,6.051076226770878E-3,3.3138058856412612E-3,1.977086953260401E-3,2.229959502902916E-3]
["MO",1.3638381207513209E-3,2.2433016415447193E-3,8.7596530124603713E-5,2.5664586415194202E-3,7.7116078032911737E-3,1.6165090043558429E-3,1.8128380882872074E-3,8.9334385056870531E-4,6.8208902648499864E-4,8.0643237768199868E-4]
["AXP",3.2977201102176055E-3,3.333019331542827E-3,2.3525781562448501E-3,4.9212134253087637E-3,1.6165090043558429E-3,4.204640221937052E-3,3.7657229784054756E-3,1.9442716547078552E-3,1.0746120855315187E-3,1.374942375452833E-3]
["AA",4.6367543702203126E-3,4.5850713324564986E-3,4.3441471131029155E-3,6.051076226770878E-3,1.8128380882872074E-3,3.7657229784054756E-3,9.262545394167758E-3,4.0792264660765914E-3,1.7948211594435955E-3,2.4313021011758192E-3]
["DD",1.8386918252302948E-3,2.038093419640348E-3,2.0963862940954767E-3,3.3138058856412612E-3,8.9334385056870531E-4,1.9442716547078552E-3,4.0792264660765914E-3,3.8146341307680812E-3,1.6506834577585342E-3,1.932755869856114E-3]
["MRK",9.8064684016909809E-4,1.7952070062733907E-4,1.2073801100505796E-3,1.977086953260401E-3,6.8208902648499864E-4,1.0746120855315187E-3,1.7948211594435955E-3,1.6506834577585342E-3,6.610491527312733E-3,4.8958731583673544E-4]
["MMM",1.3827073603953962E-3,1.7987288149139793E-3,1.605356114390743E-3,2.229959502902916E-3,8.0643237768199868E-4,1.374942375452833E-3,2.4313021011758192E-3,1.932755869856114E-3,4.8958731583673544E-4,3.1163665708069297E-3]
[]
[]
["Expected benchmark returns, no opinions","Analyst\nopinion,\ndelta",null,"Monthly returns adjusted for opinions",null,null,null,null,null,"Opinion-adjusted optimized portfolio",null,"Portfolio\nbenchmark, no opinions"]
[{"$f":"(MMULT(B11:K20,TRANSPOSE(B7:K7))*(B2-B3)/MMULT(B7:K7,MMULT(B11:K20,TRANSPOSE(B7:K7))))+B3","v":9.5695556806289443E-3},1.4E-3,"GM",{"$f":"A24:A33+MMULT(tracking,B24:B33)","v":1.0840128650944959E-2},{"$f":"getformula(D24)","v":"<--  {=A24:A33+MMULT(tracking,B24:B33)}"},null,null,null,null,{"$f":"MMULT(MINVERSE(B11:K20),D24:D33-B3)/SUM(MMULT(MINVERSE(B11:K20),D24:D33-B3))","v":6.1910801701934533E-2},"GM",{"$f":"TRANSPOSE(B7:K7)","v":2.7133655394524961E-2}]
[1.0465017543034114E-2,-5.0000000000000001E-4,"HD",1.0561046629755105E-2,null,null,null,null,null,6.7148333744694866E-2,"HD",0.11913043478260871]
[7.7256329954965928E-3,0,"IP",8.326661385979128E-3,null,null,null,null,null,6.9653197354816662E-2,"IP",2.5636070853462159E-2]
[1.3568233600962151E-2,0,"HPQ",1.388230321611481E-2,null,null,null,null,null,9.102191022161385E-2,"HPQ",0.14230273752012884]
[1.0499082035422068E-2,0,"MO",1.0601229676792431E-2,null,{"$f":"\"Cells \"&CHAR(COLUMN(J24)+64)&ROW(J24)&\":\"&CHAR(COLUMN(J33)+64)&ROW(J33)&\" contain the array formula \"&ggetformula(J24)","v":"Cells J24:J33 contain the array formula {=MMULT(MINVERSE(B11:K20),D24:D33-B3)/SUM(MMULT(MINVERSE(B11:K20),D24:D33-B3))}"},null,null,null,0.2218586581613731,"MO",0.2469082125603865]
[9.65774130902676E-3,0,"AXP",1.0359418107231875E-2,null,null,null,null,null,0.18880939481648731,"AXP",0.10573268921095008]
[1.1729586575864332E-2,0,"AA",1.2182909099360312E-2,null,null,null,null,null,1.8941867665895177E-3,"AA",4.5346215780998393E-2]
[8.4084879918391708E-3,0,"DD",8.8161606000610009E-3,null,null,null,null,null,9.1131108117457268E-2,"DD",6.1706924315619971E-2]
[7.6753599960958175E-3,0,"MRK",7.8694673813971168E-3,null,null,null,null,null,0.1061003865326309,"MRK",0.1280354267310789]
[7.3201358684277396E-3,0,"MMM",7.652710959819572E-3,null,null,null,null,null,0.10047202258240202,"MMM",9.8067632850241546E-2]
[]
[]
["Tracking matrix"]
[null,"GM","HD","IP","HPQ","MO","AXP","AA","DD","MRK","MMM"]
["GM",{"$f":"bltracking(B11:K20)","v":1},0.25885405936796957,0.19993974427948197,0.35402171429724055,0.11530699331990917,0.27880888863138437,0.39201881591234694,0.15545395218341998,8.2909721416407123E-2,0.11690231116334396]
["HD",0.42573506194356442,1,0.26031030890294654,0.5933534169450535,0.31193559519229408,0.46346302686976759,0.63756337025817289,0.2834009801175178,2.4962713690596806E-2,0.25011685146512957]
["IP",0.59851572148381671,0.47378723918961529,1,0.79397639958595478,2.2169513162173367E-2,0.59540614594804087,1.0994456797016674,0.53056740345580866,0.30557179837417386,0.40629421573360613]
["HPQ",0.35270064973838294,0.35942258896215368,0.26424545248595194,1,0.21617399646633736,0.41451607923943184,0.50968494473344805,0.27912339993471946,0.16653094701527124,0.18783051863840552]
["MO",0.17685522339054374,0.29089934275279394,1.135904889862515E-2,0.33280461182480031,1,0.20962023038385669,0.23507913453709628,0.11584404619065851,8.8449651990068198E-2,0.10457383184578294]
["AXP",0.78430494314644739,0.79270024439982301,0.55951949086407959,1.1704243801010852,0.38445834103045495,1,0.89561122465565679,0.46241094411929046,0.25557765440308028,0.3270059512534001]
["AA",0.50059181066360925,0.49501202286614743,0.46900143839923802,0.65328438018570911,0.19571705304987511,0.40655379468116787,1,0.44040015918789577,0.19377191506923358,0.26248746944945711]
["DD",0.48201000730313082,0.53428280400510531,0.54956418419959108,0.86870870758292684,0.23418860628419677,0.5096875841973274,1.0693624411249196,1,0.43272392611507599,0.50666874033000675]
["MRK",0.14834703835824237,2.7156936800479797E-2,0.18264604153292036,0.2990831990467912,0.1031828001997725,0.16256160091749866,0.27151099914853355,0.24970661424167387,1,7.4062165243521647E-2]
["MMM",0.44369214242898514,0.57718781601749414,0.51513712456974003,0.71556392748928321,0.25877327309193504,0.44120046349259073,0.78017205162943182,0.62019529023367104,0.15710196625230941,1]

{"sheet":"Page 324","index":12,"n_rows":61,"n_cols":12,"rows_kept":61,"cut":false,"hidden":false,"merged":[[0,0,0,10],[27,5,32,7]]}
["MULTIPLE OPINIONS"]
["Anticipated benchmark return",{"$f":"12%/12","v":0.01},{"$f":"getformula(B2)","v":"<--  =12%/12"}]
["Current t-bill rate",{"$f":"'Page 310'!B19","v":4.0249999999999999E-3}]
[]
[null,"General Motors\nGM","Home Depot\nHD","International Paper\nIP","Hewlett-Packard\nHPQ","Altria\nMO","American Express\nAXP","Alcoa Aluminum\nAA","DuPont\nDD","Merck\nMRK","MMM"]
["Market cap (billion $)",16.850000000000001,73.98,15.92,88.37,153.33000000000001,65.66,28.16,38.32,79.510000000000005,60.9]
["Benchmark proportions",2.7133655394524961E-2,0.11913043478260871,2.5636070853462159E-2,0.14230273752012884,0.2469082125603865,0.10573268921095008,4.5346215780998393E-2,6.1706924315619971E-2,0.1280354267310789,9.8067632850241546E-2]
[]
["Variance-covariance matrix"]
[null,"GM","HD","IP","HPQ","MO","AXP","AA","DD","MRK","MMM"]
["GM",{"$f":"'Page 310'!B8:K17","v":1.1827887290127072E-2},3.0616966387962061E-3,2.3648647601545417E-3,4.1873289349653288E-3,1.3638381207513209E-3,3.2977201102176055E-3,4.6367543702203126E-3,1.8386918252302948E-3,9.8064684016909809E-4,1.3827073603953962E-3]
["HD",3.0616966387962061E-3,7.1915538852237301E-3,1.8720356133547745E-3,4.2671330709419756E-3,2.2433016415447193E-3,3.333019331542827E-3,4.5850713324564986E-3,2.038093419640348E-3,1.7952070062733907E-4,1.7987288149139793E-3]
["IP",2.3648647601545417E-3,1.8720356133547745E-3,3.9512157747363125E-3,3.1371720748123665E-3,8.7596530124603713E-5,2.3525781562448501E-3,4.3441471131029155E-3,2.0963862940954767E-3,1.2073801100505796E-3,1.605356114390743E-3]
["HPQ",4.1873289349653288E-3,4.2671330709419756E-3,3.1371720748123665E-3,1.1872189456048057E-2,2.5664586415194202E-3,4.9212134253087637E-3,6.051076226770878E-3,3.3138058856412612E-3,1.977086953260401E-3,2.229959502902916E-3]
["MO",1.3638381207513209E-3,2.2433016415447193E-3,8.7596530124603713E-5,2.5664586415194202E-3,7.7116078032911737E-3,1.6165090043558429E-3,1.8128380882872074E-3,8.9334385056870531E-4,6.8208902648499864E-4,8.0643237768199868E-4]
["AXP",3.2977201102176055E-3,3.333019331542827E-3,2.3525781562448501E-3,4.9212134253087637E-3,1.6165090043558429E-3,4.204640221937052E-3,3.7657229784054756E-3,1.9442716547078552E-3,1.0746120855315187E-3,1.374942375452833E-3]
["AA",4.6367543702203126E-3,4.5850713324564986E-3,4.3441471131029155E-3,6.051076226770878E-3,1.8128380882872074E-3,3.7657229784054756E-3,9.262545394167758E-3,4.0792264660765914E-3,1.7948211594435955E-3,2.4313021011758192E-3]
["DD",1.8386918252302948E-3,2.038093419640348E-3,2.0963862940954767E-3,3.3138058856412612E-3,8.9334385056870531E-4,1.9442716547078552E-3,4.0792264660765914E-3,3.8146341307680812E-3,1.6506834577585342E-3,1.932755869856114E-3]
["MRK",9.8064684016909809E-4,1.7952070062733907E-4,1.2073801100505796E-3,1.977086953260401E-3,6.8208902648499864E-4,1.0746120855315187E-3,1.7948211594435955E-3,1.6506834577585342E-3,6.610491527312733E-3,4.8958731583673544E-4]
["MMM",1.3827073603953962E-3,1.7987288149139793E-3,1.605356114390743E-3,2.229959502902916E-3,8.0643237768199868E-4,1.374942375452833E-3,2.4313021011758192E-3,1.932755869856114E-3,4.8958731583673544E-4,3.1163665708069297E-3]
[]
[]
["Expected benchmark returns, no opinions","Analyst\nopinion,\ndelta",null,"Returns\nadjusted for opinions",null,null,null,null,null,"Opinion-adjusted optimized portfolio",null,"Portfolio\nbenchmark, no opinions"]
[{"$f":"(MMULT(B11:K20,TRANSPOSE(B7:K7))*(B2-B3)/MMULT(B7:K7,MMULT(B11:K20,TRANSPOSE(B7:K7))))+B3","v":9.5695556806289443E-3},{"$f":"MMULT(MINVERSE(B52:K61),D24:D33-A24:A33)","v":1.9404853622752953E-3},"GM",1.0999999999999999E-2,{"$f":"getformula(D24)","v":"<--  0.011"},null,null,null,null,{"$f":"MMULT(MINVERSE(B11:K20),D24:D33-B3)/SUM(MMULT(MINVERSE(B11:K20),D24:D33-B3))","v":0.103473560169533},"GM",{"$f":"TRANSPOSE(B7:K7)","v":2.7133655394524961E-2}]
[1.0465017543034114E-2,-8.7119088188148406E-4,"HD",{"$f":"1%","v":0.01},{"$f":"getformula(D25)","v":"<--  =1%"},null,null,null,null,6.0422209211686138E-2,"HD",0.11913043478260871]
[7.7256329954965928E-3,-1.2687897482515124E-4,"IP",{"$f":"A26","v":7.7256329954965928E-3},{"$f":"getformula(D26)","v":"<--  =A26"},null,null,null,null,1.2824609235093605E-2,"IP",2.5636070853462159E-2]
[1.3568233600962151E-2,7.8971758478971829E-6,"HPQ",{"$f":"A27","v":1.3568233600962151E-2},{"$f":"getformula(D27)","v":"<--  =A27"},null,null,null,null,0.14088707074910731,"HPQ",0.14230273752012884]
[1.0499082035422068E-2,9.2906673109757881E-5,"MO",1.0499082035422068E-2,"<--  =A28",{"$f":"\"Cells \"&CHAR(COLUMN(J24)+64)&ROW(J24)&\":\"&CHAR(COLUMN(J33)+64)&ROW(J33)&\" contain the array formula \"&ggetformula(J24)","v":"Cells J24:J33 contain the array formula {=MMULT(MINVERSE(B11:K20),D24:D33-B3)/SUM(MMULT(MINVERSE(B11:K20),D24:D33-B3))}"},null,null,null,0.25068381318578498,"MO",0.2469082125603865]
[9.65774130902676E-3,-5.8344793855154514E-4,"AXP",9.65774130902676E-3,"<--  =A29",null,null,null,null,9.6451997542708653E-2,"AXP",0.10573268921095008]
[1.1729586575864332E-2,-3.992931088793206E-4,"AA",1.1729586575864332E-2,null,null,null,null,null,3.8790858451818615E-2,"AA",4.5346215780998393E-2]
[8.4084879918391708E-3,3.1815163918274208E-4,"DD",8.4084879918391708E-3,null,null,null,null,null,7.1631549178916398E-2,"DD",6.1706924315619971E-2]
[7.6753599960958175E-3,-1.3437008554326567E-4,"MRK",7.6753599960958175E-3,null,null,null,null,null,0.11911780482998655,"MRK",0.1280354267310789]
[7.3201358684277396E-3,7.0258508220503839E-5,"MMM",7.3201358684277396E-3,{"$f":"getformula(D33)","v":"<--  =A33"},null,null,null,null,0.10571652744536462,"MMM",9.8067632850241546E-2]
[null,{"$f":"\"    ↑      \"&ggetformula(B33)","v":"    ↑      {=MMULT(MINVERSE(B52:K61),D24:D33-A24:A33)}"}]
[]
["g, opinion confidence",0.6,"<-- Weight attached to analyst opinion"]
[]
["Opinion and confidence-adjusted portfolio"]
["GM",{"$f":"B36*J24:J33+(1-B36)*L24:L33","v":7.2937598259529779E-2},{"$f":"getformula(B39)","v":"<--  {=B36*J24:J33+(1-B36)*L24:L33}"}]
["HD",8.3905499440055167E-2]
["IP",1.7949193882441025E-2]
["HPQ",0.14145333745751593]
["MO",0.24917357293562559]
["AXP",0.10016427421000523]
["AA",4.1413001383490522E-2]
["DD",6.7661699233597827E-2]
["MRK",0.12268485359042348]
["MMM",0.10265696960731538]
[]
["Tracking matrix"]
[null,"GM","HD","IP","HPQ","MO","AXP","AA","DD","MRK","MMM"]
["GM",{"$f":"bltracking(B11:K20)","v":1},0.25885405936796957,0.19993974427948197,0.35402171429724055,0.11530699331990917,0.27880888863138437,0.39201881591234694,0.15545395218341998,8.2909721416407123E-2,0.11690231116334396]
["HD",0.42573506194356442,1,0.26031030890294654,0.5933534169450535,0.31193559519229408,0.46346302686976759,0.63756337025817289,0.2834009801175178,2.4962713690596806E-2,0.25011685146512957]
["IP",0.59851572148381671,0.47378723918961529,1,0.79397639958595478,2.2169513162173367E-2,0.59540614594804087,1.0994456797016674,0.53056740345580866,0.30557179837417386,0.40629421573360613]
["HPQ",0.35270064973838294,0.35942258896215368,0.26424545248595194,1,0.21617399646633736,0.41451607923943184,0.50968494473344805,0.27912339993471946,0.16653094701527124,0.18783051863840552]
["MO",0.17685522339054374,0.29089934275279394,1.135904889862515E-2,0.33280461182480031,1,0.20962023038385669,0.23507913453709628,0.11584404619065851,8.8449651990068198E-2,0.10457383184578294]
["AXP",0.78430494314644739,0.79270024439982301,0.55951949086407959,1.1704243801010852,0.38445834103045495,1,0.89561122465565679,0.46241094411929046,0.25557765440308028,0.3270059512534001]
["AA",0.50059181066360925,0.49501202286614743,0.46900143839923802,0.65328438018570911,0.19571705304987511,0.40655379468116787,1,0.44040015918789577,0.19377191506923358,0.26248746944945711]
["DD",0.48201000730313082,0.53428280400510531,0.54956418419959108,0.86870870758292684,0.23418860628419677,0.5096875841973274,1.0693624411249196,1,0.43272392611507599,0.50666874033000675]
["MRK",0.14834703835824237,2.7156936800479797E-2,0.18264604153292036,0.2990831990467912,0.1031828001997725,0.16256160091749866,0.27151099914853355,0.24970661424167387,1,7.4062165243521647E-2]
["MMM",0.44369214242898514,0.57718781601749414,0.51513712456974003,0.71556392748928321,0.25877327309193504,0.44120046349259073,0.78017205162943182,0.62019529023367104,0.15710196625230941,1]

{"sheet":"Page 325","index":13,"n_rows":33,"n_cols":9,"rows_kept":33,"cut":false,"hidden":false,"merged":[[0,0,0,8],[11,0,11,5],[28,2,30,5]]}
["INDEX DATA, 2001-2005"]
["5 YEARS ENDING DEC05"]
["Correlation","S&P 500","MSCI World ex-US","Russell 2000","MSCI Emerging","LB Global aggregate",null,"Weight","Standard deviation"]
["S&P 500",1,0.88,0.84,0.81,-0.16,null,0.24,0.14899999999999999]
["MSCI World ex-US",0.88,1,0.83,0.87,7.0000000000000007E-2,null,0.26,0.156]
["Russell 2000",0.84,0.83,1,0.83,-0.14000000000000001,null,0.03,0.192]
["MSCI Emerging",0.81,0.87,0.83,1,-0.05,null,0.03,0.21]
["LB Global aggregate",-0.16,7.0000000000000007E-2,-0.14000000000000001,-0.05,1,null,0.44,5.8000000000000003E-2]
[null,null,null,null,null,null,null,{"$f":"SUM(H4:H8)","v":1}]
[]
[]
[{"$f":"\"Variance-covariance matrix: cells below contain formula \"&CHAR(10)&ggetformula(B14)","v":"Variance-covariance matrix: cells below contain formula \n{=I4:I8*TRANSPOSE(I4:I8)*B4:F8}"}]
["Variance-covariance matrix","S&P 500","MSCI World ex-US","Russell 2000","MSCI Emerging","LB Global aggregate"]
["S&P 500",{"$f":"I4:I8*TRANSPOSE(I4:I8)*B4:F8","v":2.2200999999999999E-2},2.0454719999999999E-2,2.4030719999999998E-2,2.53449E-2,-1.38272E-3]
["MSCI World ex-US",2.0454719999999999E-2,2.4336E-2,2.4860159999999999E-2,2.8501199999999997E-2,6.3336000000000013E-4]
["Russell 2000",2.4030719999999998E-2,2.4860159999999999E-2,3.6864000000000001E-2,3.3465599999999998E-2,-1.5590400000000003E-3]
["MSCI Emerging",2.53449E-2,2.8501199999999997E-2,3.3465599999999998E-2,4.4099999999999993E-2,-6.0900000000000006E-4]
["LB Global aggregate",-1.38272E-3,6.3336000000000013E-4,-1.5590400000000003E-3,-6.0900000000000006E-4,3.3640000000000002E-3]
[]
["Checks"]
["First row of var-cov",{"$f":"I4^2","v":2.2200999999999999E-2},{"$f":"I4*I5*C4","v":2.0454719999999999E-2},{"$f":"I4*I6*D4","v":2.4030719999999998E-2},{"$f":"I4*I7*E4","v":2.53449E-2},{"$f":"I4*I8*F4","v":-1.38272E-3},{"$f":"getformula(F21)","v":"<--  =I4*I8*F4"}]
["Standard deviation of composite",{"$f":"SQRT(MMULT(MMULT(TRANSPOSE(H4:H8),B14:F18),H4:H8))","v":8.7178601319360477E-2},{"$f":"getformula(B22)","v":"<--  {=SQRT(MMULT(MMULT(TRANSPOSE(H4:H8),B14:F18),H4:H8))}"}]
[]
[]
["Risk-free rate",0.05]
["Expected return on S&P 500",0.12]
[]
["Black-Litterman implied returns"]
["S&P 500",{"$f":"MMULT(B14:F18,H4:H8)*(B26-B25)/INDEX((MMULT(B14:F18,H4:H8)),1,1)+B25","v":0.12},{"$f":"getformula(B29)","v":"<--  {=MMULT(B14:F18,H4:H8)*(B26-B25)/INDEX((MMULT(B14:F18,H4:H8)),1,1)+B25}"}]
["MSCI World ex-US",0.12970256279461867]
["Russell 2000",0.13297739444945583]
["MSCI Emerging",0.14450600594357021]
["LB Global aggregate",5.7583401443433518E-2]