Name

Starbucks
Adjusted
Simple
Month/Year Close Price Monthly Returns
Mar-93
Apr-93
May-93
Jun-93
Jul-93
Aug-93
Sep-93
Oct-93
Nov-93
Dec-93
Jan-94
Feb-94
Mar-94
Apr-94
May-94
Jun-94
Jul-94
Aug-94
Sep-94
Oct-94
Nov-94
Dec-94
Jan-95
Feb-95
Mar-95
Apr-95
May-95
Jun-95
Jul-95
Aug-95
Sep-95
Oct-95
Nov-95
Dec-95
Jan-96
Feb-96
Mar-96
Apr-96
May-96
Jun-96
Jul-96
Aug-96
Sep-96

1.19
1.21
1.5
1.53
1.48
1.52
1.71
1.67
1.39
1.39
1.5
1.45
1.52
1.86
1.78
1.58
1.81
1.77
1.44
1.7
1.68
1.72
1.5
1.49
1.5
1.47
1.82
2.23
2.34
2.5
2.37
2.45
2.64
2.62
2.09
2.2
2.91
3.39
3.39
3.53
3.25
4.09
4.12

Simple Annual
Returns
Formula 1

Simple Annual
Returns
Formula 2

0.0168
ln(Pt)-ln(Pt-1)
0.2397
0.0200
-0.0327
0.0270
0.1250
-0.0234 R(t,12)=(1+R 1+R )....(1+R )-1
t
t+k
t+k
-0.1677
0.0000
0.0791
-0.0333
0.0483
0.2773
0.2773
0.2237
0.5372
0.5372
-0.0430
0.1867
0.1867
-0.1124
0.0327
0.0327
0.1456
0.2230
0.2230
-0.0221
0.1645
0.1645
-0.1864
-0.1579
-0.1579
0.1806
0.0180
0.0180
-0.0118
0.2086
0.2086
0.0238
0.2374
0.2374
-0.1279
0.0000
0.0000
-0.0067
0.0276
0.0276
0.0067
-0.0132
-0.0132
-0.0200
-0.2097
-0.2097
0.2381
0.0225
0.0225
0.2253
0.4114
0.4114
0.0493
0.2928
0.2928
0.0684
0.4124
0.4124
-0.0520
0.6458
0.6458
0.0338
0.4412
0.4412
0.0776
0.5714
0.5714
-0.0076
0.5233
0.5233
-0.2023
0.3933
0.3933
0.0526
0.4765
0.4765
0.3227
0.9400
0.9400
0.1649
1.3061
1.3061
0.0000
0.8626
0.8626
0.0413
0.5830
0.5830
-0.0793
0.3889
0.3889
0.2585
0.6360
0.6360
0.0073
0.7384
0.7384

log Prices
0.1740
0.1906
0.4055
0.4253
0.3920
0.4187
0.5365
0.5128
0.3293
0.3293
0.4055
0.3716
0.4187
0.6206
0.5766
0.4574
0.5933
0.5710
0.3646
0.5306
0.5188
0.5423
0.4055
0.3988
0.4055
0.3853
0.5988
0.8020
0.8502
0.9163
0.8629
0.8961
0.9708
0.9632
0.7372
0.7885
1.0682
1.2208
1.2208
1.2613
1.1787
1.4085
1.4159

Oct-96
Nov-96
Dec-96
Jan-97
Feb-97
Mar-97
Apr-97
May-97
Jun-97
Jul-97
Aug-97
Sep-97
Oct-97
Nov-97
Dec-97
Jan-98
Feb-98
Mar-98
Apr-98
May-98
Jun-98
Jul-98
Aug-98
Sep-98
Oct-98
Nov-98
Dec-98
Jan-99
Feb-99
Mar-99
Apr-99
May-99
Jun-99
Jul-99
Aug-99
Sep-99
Oct-99
Nov-99
Dec-99
Jan-00
Feb-00
Mar-00
Apr-00
May-00
Jun-00
Jul-00
Aug-00

4.06
4.33
3.58
4.28
4.2
3.7
3.73
3.94
4.87
5.12
5.12
5.23
4.12
4.36
4.8
4.57
4.95
5.66
6.02
6
6.68
5.24
3.94
4.52
5.42
5.77
7.02
6.51
6.61
7.01
9.23
9.22
9.39
5.81
5.72
6.2
6.8
6.64
6.06
8
8.78
11.2
7.56
8.5
9.55
9.38
9.16

-0.0146
0.0665
-0.1732
0.1955
-0.0187
-0.1190
0.0081
0.0563
0.2360
0.0513
0.0000
0.0215
-0.2122
0.0583
0.1009
-0.0479
0.0832
0.1434
0.0636
-0.0033
0.1133
-0.2156
-0.2481
0.1472
0.1991
0.0646
0.2166
-0.0726
0.0154
0.0605
0.3167
-0.0011
0.0184
-0.3813
-0.0155
0.0839
0.0968
-0.0235
-0.0873
0.3201
0.0975
0.2756
-0.3250
0.1243
0.1235
-0.0178
-0.0235

0.6571
0.6402
0.3664
1.0478
0.9091
0.2715
0.1003
0.1622
0.3796
0.5754
0.2518
0.2694
0.0148
0.0069
0.3408
0.0678
0.1786
0.5297
0.6139
0.5228
0.3717
0.0234
-0.2305
-0.1358
0.3155
0.3234
0.4625
0.4245
0.3354
0.2385
0.5332
0.5367
0.4057
0.1088
0.4518
0.3717
0.2546
0.1508
-0.1368
0.2289
0.3283
0.5977
-0.1809
-0.0781
0.0170
0.6145
0.6014

0.6571
0.6402
0.3664
1.0478
0.9091
0.2715
0.1003
0.1622
0.3796
0.5754
0.2518
0.2694
0.0148
0.0069
0.3408
0.0678
0.1786
0.5297
0.6139
0.5228
0.3717
0.0234
-0.2305
-0.1358
0.3155
0.3234
0.4625
0.4245
0.3354
0.2385
0.5332
0.5367
0.4057
0.1088
0.4518
0.3717
0.2546
0.1508
-0.1368
0.2289
0.3283
0.5977
-0.1809
-0.0781
0.0170
0.6145
0.6014

1.4012
1.4656
1.2754
1.4540
1.4351
1.3083
1.3164
1.3712
1.5831
1.6332
1.6332
1.6544
1.4159
1.4725
1.5686
1.5195
1.5994
1.7334
1.7951
1.7918
1.8991
1.6563
1.3712
1.5085
1.6901
1.7527
1.9488
1.8733
1.8886
1.9473
2.2225
2.2214
2.2396
1.7596
1.7440
1.8245
1.9169
1.8931
1.8017
2.0794
2.1725
2.4159
2.0229
2.1401
2.2565
2.2386
2.2148

Sep-00
Oct-00
Nov-00
Dec-00
Jan-01
Feb-01
Mar-01
Apr-01
May-01
Jun-01
Jul-01
Aug-01
Sep-01
Oct-01
Nov-01
Dec-01
Jan-02
Feb-02
Mar-02
Apr-02
May-02
Jun-02
Jul-02
Aug-02
Sep-02
Oct-02
Nov-02
Dec-02
Jan-03
Feb-03
Mar-03
Apr-03
May-03
Jun-03
Jul-03
Aug-03
Sep-03
Oct-03
Nov-03
Dec-03
Jan-04
Feb-04
Mar-04
Apr-04
May-04
Jun-04
Jul-04

10.02
11.17
11.39
11.06
12.48
11.91
10.61
9.68
9.76
11.5
9.02
8.44
7.47
8.56
8.86
9.52
11.89
11.51
11.56
11.41
12.14
12.43
9.81
10.05
10.33
11.92
10.87
10.19
11.36
11.73
12.88
11.76
12.34
12.27
13.66
14.19
14.4
15.8
16.08
16.58
18.31
18.7
18.93
19.46
20.3
21.75
23.5

0.0939
0.1148
0.0197
-0.0290
0.1284
-0.0457
-0.1092
-0.0877
0.0083
0.1783
-0.2157
-0.0643
-0.1149
0.1459
0.0350
0.0745
0.2489
-0.0320
0.0043
-0.0130
0.0640
0.0239
-0.2108
0.0245
0.0279
0.1539
-0.0881
-0.0626
0.1148
0.0326
0.0980
-0.0870
0.0493
-0.0057
0.1133
0.0388
0.0148
0.0972
0.0177
0.0311
0.1043
0.0213
0.0123
0.0280
0.0432
0.0714
0.0805

0.6161
0.6426
0.7154
0.8251
0.5600
0.3565
-0.0527
0.2804
0.1482
0.2042
-0.0384
-0.0786
-0.2545
-0.2337
-0.2221
-0.1392
-0.0473
-0.0336
0.0895
0.1787
0.2439
0.0809
0.0876
0.1908
0.3829
0.3925
0.2269
0.0704
-0.0446
0.0191
0.1142
0.0307
0.0165
-0.0129
0.3925
0.4119
0.3940
0.3255
0.4793
0.6271
0.6118
0.5942
0.4697
0.6548
0.6451
0.7726
0.7204

0.6161
0.6426
0.7154
0.8251
0.5600
0.3565
-0.0527
0.2804
0.1482
0.2042
-0.0384
-0.0786
-0.2545
-0.2337
-0.2221
-0.1392
-0.0473
-0.0336
0.0895
0.1787
0.2439
0.0809
0.0876
0.1908
0.3829
0.3925
0.2269
0.0704
-0.0446
0.0191
0.1142
0.0307
0.0165
-0.0129
0.3925
0.4119
0.3940
0.3255
0.4793
0.6271
0.6118
0.5942
0.4697
0.6548
0.6451
0.7726
0.7204

2.3046
2.4132
2.4327
2.4033
2.5241
2.4774
2.3618
2.2701
2.2783
2.4423
2.1994
2.1330
2.0109
2.1471
2.1815
2.2534
2.4757
2.4432
2.4476
2.4345
2.4965
2.5201
2.2834
2.3076
2.3351
2.4782
2.3860
2.3214
2.4301
2.4621
2.5557
2.4647
2.5128
2.5072
2.6145
2.6525
2.6672
2.7600
2.7776
2.8082
2.9074
2.9285
2.9407
2.9684
3.0106
3.0796
3.1570

Aug-04
Sep-04
Oct-04
Nov-04
Dec-04
Jan-05
Feb-05
Mar-05
Apr-05
May-05
Jun-05
Jul-05
Aug-05
Sep-05
Oct-05
Nov-05
Dec-05
Jan-06
Feb-06
Mar-06
Apr-06
May-06
Jun-06
Jul-06
Aug-06
Sep-06
Oct-06
Nov-06
Dec-06
Jan-07
Feb-07
Mar-07
Apr-07
May-07
Jun-07
Jul-07
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
Jan-08
Feb-08
Mar-08

21.62
22.73
26.44
28.13
31.18
27
25.91
25.83
24.76
27.4
25.83
26.27
24.51
25.05
28.28
30.45
30.01
31.7
36.32
37.63
37.27
35.65
37.76
34.23
31.01
34.05
37.75
35.29
35.42
34.94
30.9
31.36
31.02
28.81
26.24
26.68
27.55
26.2
26.68
23.39
20.47
18.91
17.98
17.5

-0.0800
0.0513
0.1632
0.0639
0.1084
-0.1341
-0.0404
-0.0031
-0.0414
0.1066
-0.0573
0.0170
-0.0670
0.0220
0.1289
0.0767
-0.0144
0.0563
0.1457
0.0361
-0.0096
-0.0435
0.0592
-0.0935
-0.0941
0.0980
0.1087
-0.0652
0.0037
-0.0136
-0.1156
0.0149
-0.0108
-0.0712
-0.0892
0.0168
0.0326
-0.0490
0.0183
-0.1233
-0.1248
-0.0762
-0.0492
-0.0267

0.5236
0.5785
0.6734
0.7494
0.8806
0.4746
0.3856
0.3645
0.2724
0.3498
0.1876
0.1179
0.1337
0.1021
0.0696
0.0825
-0.0375
0.1741
0.4018
0.4568
0.5053
0.3011
0.4619
0.3030
0.2652
0.3593
0.3349
0.1589
0.1803
0.1022
-0.1492
-0.1666
-0.1677
-0.1919
-0.3051
-0.2206
-0.1116
-0.2305
-0.2932
-0.3372
-0.4221
-0.4588
-0.4181
-0.4420

0.5236
0.5785
0.6734
0.7494
0.8806
0.4746
0.3856
0.3645
0.2724
0.3498
0.1876
0.1179
0.1337
0.1021
0.0696
0.0825
-0.0375
0.1741
0.4018
0.4568
0.5053
0.3011
0.4619
0.3030
0.2652
0.3593
0.3349
0.1589
0.1803
0.1022
-0.1492
-0.1666
-0.1677
-0.1919
-0.3051
-0.2206
-0.1116
-0.2305
-0.2932
-0.3372
-0.4221
-0.4588
-0.4181
-0.4420

3.0736
3.1237
3.2749
3.3368
3.4398
3.2958
3.2546
3.2515
3.2092
3.3105
3.2515
3.2684
3.1991
3.2209
3.3422
3.4161
3.4015
3.4563
3.5924
3.6278
3.6182
3.5737
3.6313
3.5331
3.4343
3.5278
3.6310
3.5636
3.5673
3.5536
3.4308
3.4455
3.4346
3.3607
3.2673
3.2839
3.3160
3.2658
3.2839
3.1523
3.0190
2.9397
2.8893
2.8622

CCMonthly
Return

0.0167
0.2148
0.0198
-0.0332
0.0267
0.1178
-0.0237
-0.1835
0.0000
0.0762
-0.0339
0.0471
0.2019
-0.0440
-0.1192
0.1359
-0.0223
-0.2063
0.1660
-0.0118
0.0235
-0.1369
-0.0067
0.0067
-0.0202
0.2136
0.2032
0.0481
0.0661
-0.0534
0.0332
0.0747
-0.0076
-0.2260
0.0513
0.2797
0.1527
0.0000
0.0405
-0.0826
0.2299
0.0073

CC Annual
Annual Return
Formula 1

CC Annual
Return
Formula 2

R(t,12)=r(t)+r(t-1).....+r(t-11)

0.2448
0.4300
0.1711
0.0322
0.2013
0.1523
-0.1719
0.0178
0.1895
0.2130
0.0000
0.0272
-0.0132
-0.2353
0.0222
0.3446
0.2568
0.3453
0.4982
0.3655
0.4520
0.4209
0.3317
0.3897
0.6627
0.8356
0.6220
0.4593
0.3285
0.4923
0.5530

0.2448
0.4300
0.1711
0.0322
0.2013
0.1523
-0.1719
0.0178
0.1895
0.2130
0.0000
0.0272
-0.0132
-0.2353
0.0222
0.3446
0.2568
0.3453
0.4982
0.3655
0.4520
0.4209
0.3317
0.3897
0.6627
0.8356
0.6220
0.4593
0.3285
0.4923
0.5530

-0.0147
0.0644
-0.1902
0.1786
-0.0189
-0.1268
0.0081
0.0548
0.2119
0.0501
0.0000
0.0213
-0.2386
0.0566
0.0961
-0.0491
0.0799
0.1340
0.0617
-0.0033
0.1074
-0.2428
-0.2851
0.1373
0.1816
0.0626
0.1961
-0.0754
0.0152
0.0588
0.2751
-0.0011
0.0183
-0.4801
-0.0156
0.0806
0.0924
-0.0238
-0.0914
0.2777
0.0930
0.2434
-0.3930
0.1172
0.1165
-0.0180
-0.0237

0.5051
0.4948
0.3122
0.7168
0.6466
0.2402
0.0956
0.1504
0.3218
0.4545
0.2246
0.2386
0.0147
0.0069
0.2933
0.0656
0.1643
0.4251
0.4787
0.4206
0.3160
0.0232
-0.2620
-0.1459
0.2742
0.2802
0.3801
0.3538
0.2892
0.2139
0.4274
0.4296
0.3405
0.1033
0.3728
0.3160
0.2268
0.1404
-0.1471
0.2061
0.2839
0.4686
-0.1996
-0.0813
0.0169
0.4790
0.4709

0.5051
0.4948
0.3122
0.7168
0.6466
0.2402
0.0956
0.1504
0.3218
0.4545
0.2246
0.2386
0.0147
0.0069
0.2933
0.0656
0.1643
0.4251
0.4787
0.4206
0.3160
0.0232
-0.2620
-0.1459
0.2742
0.2802
0.3801
0.3538
0.2892
0.2139
0.4274
0.4296
0.3405
0.1033
0.3728
0.3160
0.2268
0.1404
-0.1471
0.2061
0.2839
0.4686
-0.1996
-0.0813
0.0169
0.4790
0.4709

0.0897
0.1086
0.0195
-0.0294
0.1208
-0.0467
-0.1156
-0.0917
0.0082
0.1641
-0.2429
-0.0665
-0.1221
0.1362
0.0344
0.0718
0.2223
-0.0325
0.0043
-0.0131
0.0620
0.0236
-0.2367
0.0242
0.0275
0.1432
-0.0922
-0.0646
0.1087
0.0321
0.0935
-0.0910
0.0481
-0.0057
0.1073
0.0381
0.0147
0.0928
0.0176
0.0306
0.0993
0.0211
0.0122
0.0276
0.0423
0.0690
0.0774

0.4800
0.4963
0.5396
0.6016
0.4447
0.3049
-0.0541
0.2472
0.1382
0.1858
-0.0391
-0.0819
-0.2937
-0.2661
-0.2512
-0.1499
-0.0484
-0.0342
0.0858
0.1644
0.2182
0.0778
0.0840
0.1746
0.3242
0.3311
0.2045
0.0680
-0.0456
0.0189
0.1081
0.0302
0.0163
-0.0130
0.3311
0.3450
0.3322
0.2818
0.3916
0.4868
0.4773
0.4664
0.3851
0.5037
0.4978
0.5725
0.5425

0.4800
0.4963
0.5396
0.6016
0.4447
0.3049
-0.0541
0.2472
0.1382
0.1858
-0.0391
-0.0819
-0.2937
-0.2661
-0.2512
-0.1499
-0.0484
-0.0342
0.0858
0.1644
0.2182
0.0778
0.0840
0.1746
0.3242
0.3311
0.2045
0.0680
-0.0456
0.0189
0.1081
0.0302
0.0163
-0.0130
0.3311
0.3450
0.3322
0.2818
0.3916
0.4868
0.4773
0.4664
0.3851
0.5037
0.4978
0.5725
0.5425

-0.0834
0.0501
0.1512
0.0620
0.1029
-0.1439
-0.0412
-0.0031
-0.0423
0.1013
-0.0590
0.0169
-0.0693
0.0218
0.1213
0.0739
-0.0146
0.0548
0.1361
0.0354
-0.0096
-0.0444
0.0575
-0.0981
-0.0988
0.0935
0.1032
-0.0674
0.0037
-0.0136
-0.1229
0.0148
-0.0109
-0.0739
-0.0934
0.0166
0.0321
-0.0502
0.0182
-0.1316
-0.1333
-0.0793
-0.0504
-0.0271

0.4211
0.4565
0.5149
0.5593
0.6316
0.3884
0.3261
0.3108
0.2409
0.2999
0.1719
0.1114
0.1255
0.0972
0.0673
0.0792
-0.0382
0.1605
0.3377
0.3763
0.4090
0.2632
0.3797
0.2647
0.2352
0.3070
0.2888
0.1475
0.1657
0.0973
-0.1616
-0.1823
-0.1836
-0.2130
-0.3640
-0.2492
-0.1183
-0.2621
-0.3471
-0.4113
-0.5483
-0.6139
-0.5415
-0.5833

0.4211
0.4565
0.5149
0.5593
0.6316
0.3884
0.3261
0.3108
0.2409
0.2999
0.1719
0.1114
0.1255
0.0972
0.0673
0.0792
-0.0382
0.1605
0.3377
0.3763
0.4090
0.2632
0.3797
0.2647
0.2352
0.3070
0.2888
0.1475
0.1657
0.0973
-0.1616
-0.1823
-0.1836
-0.2130
-0.3640
-0.2492
-0.1183
-0.2621
-0.3471
-0.4113
-0.5483
-0.6139
-0.5415
-0.5833

40
35
S 30
t
o
25
c
k
20
P
R 15
I
C
10
E
5
0

Stock Prices

Stock Prices

Starbucks stock prices

40
35
p
r
i
c
e
s

30
25
20
15
10
5
0

Time

0.4000

Simple Monthly Return

0.3000
0.2000
0.1000
0.0000
-0.1000
-0.2000
-0.3000
-0.4000
-0.5000

CC Monthly Returns
0.4000

0.4000
0.3000
0.2000
0.1000
0.0000
-0.1000
-0.2000
-0.3000
-0.4000
-0.5000
-0.6000

Starbucks Monthly stock Log Prices

4.0000
3.5000

Series1

p
r
i
c
e
s

3.0000
2.5000
2.0000
1.5000
1.0000
0.5000
0.0000

Time

Simple Annual Return

1.4000
1.2000
1.0000
0.8000
0.6000
0.4000
Series1

0.2000
0.0000
-0.2000
-0.4000
-0.6000

CC Annual Returns
1.0000

1.0000
0.8000

Series1

0.6000
P
0.4000
r
i 0.2000
c 0.0000
e
-0.2000
s
-0.4000
-0.6000
-0.8000

Time

og Prices

Series1

e Annual Return

ual Returns

Series1

Series1