Date S&P500 AAPL MSFT BAC XOM PFE

Apr-15 1.05% 4.10% -3.66% 3.58% -2.48% 2.42% Correlation Matrix

May-15 -2.10% -3.32% -5.17% 3.15% -1.54% -2.71%
Jun-15 1.97% -3.29% 5.78% 5.37% -4.80% 7.55% AAPL
Jul-15 -6.26% -6.91% -6.81% -8.05% -5.01% -7.76% MSFT
Aug-15 -2.64% -1.88% 2.37% -5.23% -0.26% -4.82% BAC
Sep-15 8.30% 8.34% 18.93% 8.05% 11.28% 7.67% XOM
Oct-15 0.05% -1.00% 3.25% 3.87% -1.31% -3.10% PFE
Nov-15 -1.75% -10.64% 2.77% -3.44% -3.71% -0.70% S&P500
Dec-15 -5.07% -7.52% -0.70% -15.75% -0.13% -5.55%
Jan-16 -0.41% -0.67% -7.64% -11.46% 2.95% -2.69%
Feb-16 6.60% 13.33% 9.33% 7.99% 5.24% 0.90%
Mar-16 0.27% -13.99% -9.70% 8.10% 5.75% 10.36% AAPL
Apr-16 1.53% 6.53% 6.28% 1.58% 0.70% 6.08% MSFT
May-16 0.09% -3.68% -2.78% -10.28% 6.19% 2.38% BAC
Jun-16 3.56% 9.01% 10.77% 9.56% -5.11% 4.77% XOM
Jul-16 -0.12% 1.81% 1.38% 11.39% -2.03% -5.67% PFE
Aug-16 -0.12% 7.13% 0.87% -2.58% 1.01% -1.86%
Sep-16 -1.94% 0.43% 4.03% 5.43% -4.54% -6.38% Variance
Oct-16 3.42% -2.66% 0.57% 28.00% 4.78% 1.36% Return
Nov-16 1.82% 5.33% 3.82% 9.73% 4.31% -0.39% Constraint
Dec-16 1.79% 4.77% 4.04% -1.95% -7.06% 0.09%
Jan-17 3.72% 12.89% -1.04% 9.01% -3.06% 7.53% Std. Dev.
Feb-17 -0.04% 5.32% 3.56% -4.42% 1.77% 1.29%
Mar-17 0.91% -0.01% 3.95% -0.76% -0.44% -0.85%
Apr-17 1.16% 6.34% 2.02% -3.98% -1.41% -3.74%
May-17 0.48% -5.33% -0.74% 8.61% 1.23% 3.87%
Jun-17 1.93% 3.27% 5.47% -0.58% -0.85% -1.28%
Jul-17 0.05% 10.27% 2.85% -0.95% -4.64% 2.29% correlation
Aug-17 1.93% -5.66% 0.16% 6.61% 8.44% 6.28% 0
Sep-17 2.22% 9.68% 11.67% 8.09% 1.67% -1.79%
Oct-17 0.37% 1.66% 1.19% 2.85% -0.07% 3.42%
Nov-17 3.43% -1.17% 2.14% 5.24% 1.35% 0.80%
Dec-17 5.62% -1.06% 11.07% 8.40% 4.38% 2.26%
Jan-18 -3.89% 6.38% -1.31% 0.31% -13.24% -1.97%
Feb-18 -2.69% -5.42% -2.21% -6.57% -0.48% -1.35%
Mar-18 0.27% -1.50% 2.47% 0.14% 4.21% 3.16%
Apr-18 2.16% 13.08% 5.69% -2.94% 4.49% -1.86%
May-18 0.48% -0.56% 0.20% -2.53% 2.87% 1.96%
Jun-18 3.60% 2.80% 7.58% 9.54% -1.47% 10.06%
Jul-18 3.03% 19.62% 5.89% 0.16% -1.64% 3.98%
Aug-18 0.43% -0.48% 2.21% -4.75% 7.14% 7.05%
Sep-18 -6.94% -3.05% -6.61% -6.20% -6.28% -2.29%
Oct-18 1.79% -18.40% 3.82% 3.27% -0.23% 7.36%
Nov-18 -9.18% -11.36% -8.01% -13.24% -13.36% -4.85%
Dec-18 7.87% 5.52% 2.82% 16.19% 7.46% -2.75%
Jan-19 2.97% 4.03% 7.28% 2.14% 7.85% 3.01%
Feb-19 1.79% 10.17% 5.72% -4.64% 3.37% -2.03%
 Mar-19 3.93% 5.64% 10.73% 10.84% -0.64% -4.38%
Apr-19 -6.58% -12.76% -5.30% -13.02% -11.85% 2.24%
May-19 6.89% 13.49% 8.71% 9.02% 9.52% 5.26%
Jun-19 1.31% 7.64% 1.72% 6.36% -2.96% -10.34%
Jul-19 -1.81% -2.02% 1.17% -10.33% -7.91% -8.47%
Aug-19 1.72% 7.70% 1.18% 6.03% 4.39% 2.01%
Sep-19 2.04% 11.07% 3.12% 7.91% -4.31% 6.79%
Oct-19 3.40% 7.43% 5.59% 6.56% 0.83% 0.39%
Nov-19 2.86% 10.21% 4.53% 5.70% 3.66% 2.70%
Dec-19 -0.16% 5.40% 7.95% -6.28% -10.98% -4.95%
Jan-20 -8.41% -11.68% -4.83% -13.19% -17.19% -9.34%
Feb-20 -21.98% -15.94% -14.99% -30.98% -35.44% -13.20%
Average 0.28% 1.50% 2.12% 0.93% -1.01% 0.17%
Std Dev. 0.046473175 0.080899 0.058464 0.091887 0.073984 0.051416
Var 0.002159756 0.006545 0.003418 0.008443 0.005474 0.002644
Average^2 8.03924E-06 0.000225 0.00045 8.594E-05 0.000102 3E-06
lation Matrix
AAPL MSFT BAC XOM PFE S&P500
1.00 0.61 0.42 0.36 0.18 0.62
1.00 0.53 0.49 0.34 0.77
1.00 0.59 0.49 0.77
1.00 0.57 0.79
1.00 0.82
1.00

Weights
0.471284

0.267991

0.260725

0.00 Portfolio Variance (to be minimiz(return=1) olacak

0.01 Expected portfolio return
1 Sum of weights

0.00

0.0699
"
 AAPL
25.00%

20.00%

15.00%
Beta =
1,0789 10.00%
f(x) = 1.07885811164915 x + 0.011929916964301
5.00%

0.00%
-25.00% -20.00% -15.00% -10.00% -5.00% 0.00% 5.00% 10.00%
-5.00%

-10.00%

-15.00%

-20.00%

-25.00%
5.00% 10.00%
 MSFT
25.00%

20.00%
Beta =
0,9567 15.00%

10.00%
f(x) = 0.956699495452128 x + 0.018492599621107
5.00%

0.00%
-25.00% -20.00% -15.00% -10.00% -5.00% 0.00% 5.00% 10.00%
-5.00%

-10.00%

-15.00%

-20.00%
10.00%
 BAC
40.00%

30.00%
Beta = 1,5521
20.00%

f(x) = 1.55209300032809 x + 0.004869697144687

10.00%

0.00%
-25.00% -20.00% -15.00% -10.00% -5.00% 0.00% 5.00% 10.00%

-10.00%

-20.00%

-30.00%

-40.00%
00% 10.00%
 XOM
20.00%

10.00%
Beta = 1,2889
f(x) = 1.2889294602898 x − 0.013752040004366

0.00%
-25.00% -20.00% -15.00% -10.00% -5.00% 0.00% 5.00% 10.00%

-10.00%

-20.00%

-30.00%

-40.00%
10.00%
 PFE
15.00%

10.00%
Beta = 0,6347

5.00%
f(x) = 0.634688746322592 x − 6.74719107077168E-05
0.00%
-25.00% -20.00% -15.00% -10.00% -5.00% 0.00% 5.00% 10.00%

-5.00%

-10.00%

-15.00%
5.00% 10.00%