Fluent Essays

paper is 6-8pages exclude first, final page, and reference pages dont worry about pa2 (data attached on file) use the company and company data shown on excel file.  using the data shown on excel file(sheet 3 is summary of data)  explain what is the data meaning.  Question 7 needs to solve.( it is not on excel sheet) shown equation and quote. do not not not show calculation on paper. only show words and equation.   must cited:  Ross, S. A., Westerfield, R. W., & Jordan, R. D. (2018). Fundamentals of corporate finance (12th ed.). McGraw-Hill NEM NUE EMN LIN PKG NEM NUE_MEAN EMN_MEAN LIN_MEAN PKG_MEAN NEM_MEAN Date Adj Close Adj Close Adj Close Adj Close Adj Close 0.0078126242 0.0136702447 0.0114890268 0.01848959 0.0065902946 1/1/10 28.418333 21.153416 59.118431 15.800069 34.845501 NUE_R EMN_R LIN_R PKG_R NEM_R VARIANCE COVARIANCE MATRIC 2/1/10 28.836262 22.283491 58.977158 17.061773 40.064983 0.0147063165 0.0534228136 -0.0023896608 0.0798543348 0.1497892655 NUE_R EMN_R LIN_R PKG_R NEM_R 3/1/10 31.608444 23.82893 65.146454 17.64245 41.406464 0.0961352758 0.0693535407 0.104604837 0.0340338018 0.03348263 NUE_R 0.0051990319 4/1/10 31.817455 25.221544 66.137482 17.838638 45.682705 0.0066125052 0.0584421541 0.0152123092 0.0111202242 0.1032747206 EMN_R 0.0036698001 0.0061307784 5/1/10 30.223774 22.760445 61.26619 15.970378 43.841736 -0.0500882613 -0.0975792362 -0.0736540287 -0.1047310899 -0.0402990366 LIN_R 0.0016458747 0.0018423211 0.0018449942 6/1/10 26.874937 20.110897 59.995068 15.883813 50.293354 -0.1108014175 -0.116410202 -0.0207475281 -0.0054203476 0.1471569921 PKG_R 0.002742944 0.003121499 0.0013554493 0.0047382738 7/1/10 27.721165 23.788507 68.943062 17.433689 45.617386 0.0314876273 0.1828665325 0.1491454931 0.0975758151 -0.0929738748 NEM_R 0.0003341778 0.0004210869 0.0004904726 -0.0003914998 0.0103375292 8/1/10 26.049681 23.374563 68.315712 16.191536 50.040398 -0.0602963115 -0.017401008 -0.0090995378 -0.0712501525 0.0969589095 9/1/10 27.055408 28.102652 71.674706 16.83077 51.256321 0.0386080352 0.2022749687 0.049168689 0.0394795157 0.0242988275 10/1/10 27.331606 30.041351 72.909019 17.859226 49.786388 0.010208606 0.0689863362 0.0172210403 0.061105701 -0.0286780825 11/1/10 26.98835 29.750765 73.475731 18.751087 48.125751 -0.01255894 -0.0096728672 0.0077728655 0.0499383904 -0.0333552416 12/1/10 31.336243 32.148106 76.205666 18.889986 50.252674 0.1611025869 0.0805808187 0.0371542408 0.0074075172 0.0441951129 1/1/11 33.100464 35.709545 74.621574 20.768898 45.158524 0.0562996974 0.110782234 -0.0207870633 0.0994660345 -0.1013707251 2/1/11 34.578495 35.921047 79.706512 21.165897 45.322525 0.0446528786 0.0059228422 0.0681430011 0.0191150729 0.0036316732 3/1/11 33.179775 38.19376 81.487038 21.239416 44.756706 -0.0404505748 0.0632696759 0.0223385261 0.0034734649 -0.012484278 4/1/11 34.125385 41.452209 85.790642 21.12818 48.201801 0.0284995905 0.0853136481 0.0528133566 -0.0052372438 0.0769738282 5/1/11 30.768093 40.91111 85.323097 21.550301 46.524082 -0.0983810732 -0.0130535625 -0.0054498368 0.0199790517 -0.0348061476 6/1/11 29.954187 39.450138 87.378777 20.728279 44.385807 -0.0264529232 -0.0357108864 0.0240928901 -0.0381443396 -0.045960606 7/1/11 28.523268 37.508892 83.956505 19.889105 45.911484 -0.0477702499 -0.0492075845 -0.0391659407 -0.0404844995 0.0343730824 8/1/11 26.462313 32.126625 79.784622 18.904718 51.698933 -0.0722552198 -0.1434930949 -0.0496910037 -0.0494937806 0.1260566746 9/1/11 23.205858 26.612324 75.726112 17.375919 51.971375 -0.1230601044 -0.1716427107 -0.050868324 -0.0808686488 0.0052697799 10/1/11 28.013157 30.736961 82.782196 19.602676 55.432655 0.2071588562 0.1549897333 0.0931790081 0.128151898 0.0665997388 11/1/11 29.236599 30.995113 83.050896 19.55006 57.133026 0.0436738351 0.0083987483 0.003245867 -0.0026841233 0.0306745365 12/1/11 29.340401 30.557018 87.040581 18.971298 49.775734 0.003550413 -0.014134325 0.0480390362 -0.0296041035 -0.1287747651 1/1/12 33.288506 39.64373 86.903168 21.329689 51.265507 0.1345620668 0.2973690692 -0.0015787234 0.1243136342 0.0299297043 2/1/12 32.570202 42.645374 89.194389 22.466665 49.556099 -0.0215781387 0.0757154788 0.0263652184 0.053304856 -0.0333442133 3/1/12 32.13623 40.723061 93.809608 22.428764 42.751835 -0.0133242035 -0.0450767063 0.0517433782 -0.0016869883 -0.1373042701 4/1/12 29.5863 42.734261 95.15403 22.311007 39.984303 -0.0793475152 0.0493872501 0.0143313892 -0.005250267 -0.064734812 5/1/12 26.983055 36.866913 87.373947 20.507164 39.57312 -0.0879881905 -0.1372984547 -0.0817630425 -0.0808499141 -0.0102836105 6/1/12 28.597828 39.883736 89.421776 21.584879 40.705936 0.059843965 0.0818300952 0.0234375242 0.052553098 0.0286258956 7/1/12 29.877527 41.624626 85.788139 23.748981 37.575325 0.0447481186 0.0436491205 -0.0406348114 0.1002600941 -0.0769079723 8/1/12 28.696144 43.997253 87.22673 24.697708 42.822529 -0.0395408562 0.0570005602 0.016769113 0.039948114 0.1396449399 9/1/12 29.161072 45.390583 85.887344 27.998957 47.334602 0.0162017587 0.031668568 -0.0153552243 0.133666209 0.1053668035 10/1/12 30.879868 47.383968 88.279617 27.416636 46.438568 0.0589414546 0.0439162678 0.0278536148 -0.0207979533 -0.0189297884 11/1/12 31.687845 48.671753 89.110779 28.326113 40.065819 0.0261651701 0.0271776522 0.0094151065 0.0331724505 -0.1372296622 12/1/12 33.211445 54.430779 90.972633 29.904108 39.512775 0.0480815278 0.1183237842 0.0208937013 0.0557081376 -0.0138033869 1/1/13 35.704075 57.179871 92.217102 30.076571 36.83408 0.0750533438 0.0505062035 0.0136795975 0.0057672009 -0.0677931378 2/1/13 34.959114 56.03867 94.456322 32.698383 34.54483 -0.0208648733 -0.0199580898 0.0242820469 0.0871712404 -0.0621503238 3/1/13 35.812717 56.151188 93.194664 35.116718 35.91666 0.0244171806 0.0020078635 -0.013357052 0.073958856 0.0397115864 4/1/13 34.122322 53.783981 96.010963 37.494099 28.083994 -0.0472009705 -0.0421577367 0.0302195306 0.0676994074 -0.2180789082 5/1/13 34.818535 57.875263 96.036194 38.62933 29.71356 0.0204034473 0.0760687834 0.0002627929 0.0302775911 0.058024724 6/1/13 33.887642 56.495361 96.73336 38.597786 25.960356 -0.0267355591 -0.0238426908 0.0072594089 -0.0008165816 -0.1263128349 7/1/13 36.904346 65.185677 101.463554 42.755135 26.273287 0.0890207705 0.1538235325 0.0488993042 0.1077095199 0.0120541875 8/1/13 35.886669 61.595314 99.124779 42.158993 27.823416 -0.0275760746 -0.0550790168 -0.023050395 -0.0139431673 0.0590001929 9/1/13 38.671448 63.135216 101.497314 45.378155 24.609308 0.0775992612 0.0250003109 0.0239348327 0.0763576587 -0.1155180945 10/1/13 41.141903 64.103859 105.837433 49.863457 24.063013 0.0638831781 0.0153423566 0.0427609247 0.0988427582 -0.0221987144 11/1/13 40.577671 62.671913 107.152863 49.046814 21.917992 -0.0137142903 -0.0223379064 0.0124287784 -0.0163775849 -0.0891418294 12/1/13 42.421383 65.657837 110.352348 50.664097 20.329103 0.0454366146 0.0476437348 0.0298590715 0.0329742723 -0.0724924528 1/1/14 38.690845 63.727741 106.359573 52.052315 19.22818 -0.0879400372 -0.0293962776 -0.0361820575 0.0274004291 -0.054155021 2/1/14 40.203274 71.468941 111.177811 58.732079 20.705908 0.0390901 0.1214730018 0.0453014041 0.1283278947 0.0768522034 3/1/14 40.443348 70.471664 111.689468 56.701569 20.866138 0.0059715037 -0.0139539916 0.0046021503 -0.0345724183 0.0077383711 4/1/14 41.715977 71.545914 111.886475 53.984707 22.240742 0.0314669547 0.0152437155 0.0017638816 -0.0479151115 0.0658772601 5/1/14 40.813145 72.440582 113.334869 56.03458 20.50304 -0.0216423554 0.0125048091 0.0129452108 0.0379713647 -0.078131476 6/1/14 39.700722 71.693665 113.849091 57.922363 22.787128 -0.0272564881 -0.0103107537 0.0045371915 0.0336896074 0.1114024067 7/1/14 40.782578 64.912239 110.357597 53.907494 22.337027 0.0272502853 -0.0945889152 -0.0306677372 -0.0693146618 -0.0197524234 8/1/14 44.112095 67.952705 113.294365 55.398602 24.291853 0.0816406702 0.0468396414 0.0266113805 0.0276604956 0.0875150484 9/1/14 44.07962 66.650818 111.098259 52.000858 20.669153 -0.0007361926 -0.0191587222 -0.0193840709 -0.0613326668 -0.1491323037 10/1/14 44.196934 66.840126 109.041992 59.075043 16.838915 0.0026614113 0.0028402952 -0.0185085439 0.1360397746 -0.1853118026 11/1/14 43.845387 68.610825 111.110497 60.878117 16.515779 -0.0079541038 0.0264915569 0.018969802 0.0305217552 -0.019189835 12/1/14 40.10099 62.769142 112.131752 63.967915 16.964581 -0.0854000217 -0.0851422935 0.0091913458 0.0507538366 0.0271741345 1/1/15 35.958817 58.96772 104.899216 62.49139 22.604023 -0.1032935346 -0.0605619557 -0.0645003389 -0.0230822749 0.332424479 2/1/15 38.743252 61.937344 111.258049 68.266808 23.664564 0.077433999 0.0503601632 0.0606184988 0.0924194197 0.0469182411 3/1/15 39.155144 57.611858 105.029686 64.419273 19.512255 0.0106313223 -0.0698364786 -0.0559812351 -0.0563602593 -0.1754652653 4/1/15 40.571163 63.763786 106.655769 57.410034 23.834946 0.036164316 0.1067823225 0.0154821276 -0.1088065523 0.2215372339 5/1/15 39.275818 64.223892 107.469254 57.401749 24.509779 -0.0319277266 0.0072157886 0.0076272011 -0.0001443128 0.0283127556 6/1/15 36.593773 68.448593 104.573898 51.850742 21.018661 -0.0682874383 0.0657808312 -0.0269412496 -0.0967044924 -0.1424377592 7/1/15 36.943214 65.923126 100.427605 59.218517 15.464037 0.009549193 -0.0368958205 -0.0396494066 0.142095845 -0.2642710685 8/1/15 36.231796 60.928436 93.04554 56.140045 15.373975 -0.0192570684 -0.0757653695 -0.0735063332 -0.051984956 -0.0058239643 9/1/15 31.427675 54.420208 89.622887 50.326115 14.473328 -0.1325940619 -0.1068175786 -0.0367847078 -0.1035611924 -0.0585825722 10/1/15 35.749477 61.031208 98.42762 57.743519 17.554464 0.1375158041 0.1214806088 0.0982420149 0.1473867792 0.2128837265 11/1/15 35.031116 61.437122 99.942703 57.355492 16.607281 -0.020094308 0.0066509252 0.0153928643 -0.0067198364 -0.0539568169 12/1/15 34.059193 57.090454 90.728142 53.188156 16.228405 -0.0277445629 -0.0707498636 -0.0921984369 -0.0726580115 -0.0228138489 1/1/16 33.327339 52.100868 89.179466 43.258995 18.028757 -0.0214877082 -0.0873979037 -0.0170694116 -0.1866799255 0.1109383208 2/1/16 33.557667 54.603348 90.775772 41.276039 23.330803 0.0069110828 0.0480314455 0.0178999278 -0.0458391602 0.2940882724 3/1/16 40.347668 61.480892 102.065903 51.403564 24.008236 0.2023382913 0.125954621 0.1243738362 0.2453608739 0.0290359916 4/1/16 42.805706 65.447174 105.510056 55.780643 31.616253 0.0609214391 0.0645124342 0.0337444034 0.0851512747 0.3168919616 5/1/16 41.713634 62.859451 98.683273 58.660801 29.30176 -0.0255122997 -0.0395391098 -0.0647026763 0.0516336465 -0.073205797 6/1/16 42.487545 58.180969 100.955856 57.543129 35.368256 0.0185529508 -0.0744276624 0.0230290598 -0.0190531323 0.2070352088 7/1/16 46.501472 56.248058 105.398651 64.729927 39.808327 0.0944730273 -0.0332223927 0.0440073035 0.124894112 0.1255383076 8/1/16 42.054176 58.54179 110.372849 68.144531 34.597061 -0.0956377467 0.0407788656 0.0471941334 0.0527515503 -0.1309089427 9/1/16 42.869076 58.360714 109.278542 70.42382 35.547039 0.019377386 -0.0030931067 -0.0099146394 0.0334478639 0.0274583439 10/1/16 42.67506 62.449074 106.516129 72.062996 33.532146 -0.0045257798 0.0700532896 -0.0252786407 0.0232758746 -0.0566824427 11/1/16 54.3288 65.236732 109.464272 74.037086 29.367786 0.2730808111 0.0446389005 0.0276779022 0.0273939485 -0.1241900832 12/1/16 51.996311 65.31488 106.634392 74.089493 30.84341 -0.0429328275 0.0011979141 -0.0258520881 0.000707848 0.0502463482 1/1/17 51.059021 67.752876 108.452011 81.10762 32.893242 -0.0180260865 0.0373268082 0.0170453356 0.094724997 0.0664593182 2/1/17 54.996769 70.156998 108.699242 81.327591 31.043686 0.0771214944 0.0354836893 0.002279635 0.002712088 -0.0562290576 3/1/17 52.491734 70.637848 108.598526 80.614876 29.883169 -0.0455487667 0.0068539136 -0.0009265566 -0.0087635081 -0.0373833507 4/1/17 54.247429 70.180954 115.204796 87.512955 30.700317 0.0334470757 -0.0064681189 0.0608320411 0.0855683137 0.0273447572 5/1/17 51.390434 70.497757 121.943031 90.507423 31.009052 -0.0526659982 0.004514088 0.0584891882 0.0342174253 0.0100564108 6/1/17 51.186996 73.912201 122.182709 98.684631 29.410929 -0.0039586745 0.0484333707 0.0019654916 0.0903484789 -0.0515373059 7/1/17 51.351475 73.63382 120.675674 97.576836 33.80122 0.0032132966 -0.0037663741 -0.0123342739 -0.0112256082 0.1492741355 8/1/17 49.071949 76.325562 121.955109 100.188271 34.865192 -0.0443906626 0.0365557837 0.0106022611 0.0267628579 0.0314773254 9/1/17 49.900059 80.124123 129.557617 102.211464 34.110409 0.0168754251 0.0497678746 0.0623385774 0.0201939107 -0.0216486116 10/1/17 51.846359 80.889412 136.287735 104.191566 32.947197 0.0390039619 0.0095512933 0.051946911 0.0193726019 -0.0341013794 11/1/17 51.550507 82.278999 143.562881 106.27951 33.703465 -0.0057063216 0.0171788491 0.0533807829 0.0200394723 0.0229539405 12/1/17 57.001408 82.519501 144.271744 108.026939 34.186371 0.1057390376 0.0029230059 0.0049376482 0.016441824 0.0143280817 1/1/18 60.386841 88.891991 151.402893 113.17189 36.988121 0.0593920943 0.0772240491 0.0494285908 0.0476265554 0.0819551745 2/1/18 58.979984 90.594917 140.396179 107.379517 34.87896 -0.0232974101 0.0191572489 -0.0726981749 -0.0511820824 -0.0570226587 3/1/18 55.093079 94.62812 135.286606 101.524101 35.673325 -0.0659021033 0.0445190871 -0.0363939606 -0.0545301019 0.022774905 4/1/18 55.923882 91.962128 143.769684 104.766571 36.003937 0.0150799885 -0.028173359 0.0627044927 0.0319379336 0.0092677652 5/1/18 58.256321 93.971092 147.295151 106.405655 35.674046 0.0417073872 0.021845558 0.02452163 0.015645105 -0.0091626369 6/1/18 56.72253 90.052261 149.076706 101.234802 34.556084 -0.0263283189 -0.0417025163 0.0120951368 -0.0485956597 -0.0313382452 7/1/18 61.111694 93.833977 158.711166 102.913353 33.734741 0.0773795527 0.0419946813 0.0646275348 0.0165807703 -0.023768405 8/1/18 57.066803 87.866341 149.889648 100.196945 28.538414 -0.0661884941 -0.063597816 -0.055582214 -0.0263950976 -0.1540348865 9/1/18 57.934216 86.680061 153.066772 99.987312 27.775061 0.0151999578 -0.0135009605 0.0211964204 -0.0020922095 -0.0267482629 10/1/18 54.306683 71.366814 157.580765 84.278656 28.572247 -0.0626146904 -0.1766640081 0.0294903521 -0.1571064937 0.0287015031 11/1/18 55.491665 71.79493 151.466843 89.795647 29.88443 0.0218201874 0.0059988106 -0.0387986567 0.0654613073 0.0459250895 12/1/18 47.591843 66.593849 148.600372 76.613625 32.019032 -0.1423605149 -0.0724435695 -0.0189247425 -0.1468002341 0.0714285666 1/1/19 56.686317 74.072784 156.058456 87.322548 31.651171 0.1910931249 0.1123066937 0.0501888649 0.1397783097 -0.0114888233 2/1/19 56.066132 75.974678 165.852203 88.498306 31.660446 -0.0109406473 0.0256760162 0.0627569133 0.0134645407 0.0002930381 3/1/19 54.011208 69.717728 168.42746 92.007141 33.191505 -0.0366517883 -0.0823557291 0.0155274211 0.039648612 0.0483587313 4/1/19 53.195934 73.027191 173.470306 92.526764 28.938459 -0.0150945337 0.0474694614 0.0299407591 0.0056476377 -0.1281365819 5/1/19 44.741631 60.103012 173.749405 83.121078 31.598583 -0.1589276165 -0.1769776274 0.0016089151 -0.1016536794 0.0919234849 6/1/19 51.359665 72.055107 194.162933 88.943634 36.736099 0.1479166908 0.1988601669 0.1174883333 0.0700490915 0.1625869109 7/1/19 51.059063 70.346931 184.957611 95.001152 35.016655 -0.0058528809 -0.0237065223 -0.0474102954 0.0681051327 -0.0468052963 8/1/19 45.988842 61.029575 182.665955 94.634201 38.247936 -0.0993010976 -0.1324486494 -0.0123901687 -0.0038625953 0.0922784029 9/1/19 47.800976 68.927849 188.194473 99.827888 36.359028 0.0394037754 0.1294171555 0.0302657274 0.0548817124 -0.0493858806 10/1/19 50.95583 71.585503 192.692398 103.74752 38.234795 0.0659997821 0.0385570425 0.0239004097 0.0392638979 0.0515901305 11/1/19 53.330925 73.779015 200.328201 106.060188 36.954853 0.0466108589 0.0306418466 0.0396269032 0.0222913087 -0.0334758431 12/1/19 53.255226 74.616875 206.827362 106.145485 41.8148 -0.0014194203 0.0113563457 0.0324425666 0.000804232 0.1315103865 2010 28.6884715 25.21372225 66.8470565833 17.17945125 45.93447175 2011 30.04066625 35.0145618333 82.2207126667 20.0728955833 48.8560543333 2012 30.5563351667 43.6663364167 89.0935133333 24.39338925 43.1322015 2013 37.0756520833 59.9895125 99.506408 41.0399615 28.0057999167 2014 41.55707625 68.2570301667 111.27764575 56.7213035 20.329037 2015 36.6450365 61.31531225 101.0066974167 57.98432 19.2371431667 2016 42.8887045 60.0686625 102.9029300833 60.9509186667 30.4458195 2017 52.1745116667 74.9091709167 123.44925625 94.8524735 32.37952075 2018 56.5721284167 85.6863734167 148.8785654167 99.0223395 32.8581998333 2019 51.53764575 70.436354 182.28223025 94.81965875 35.0336941667 Sheet2 Sheet1 YEAR NUE EMN LIN PKG NEM NUE_R EMN_R LIN_R PKG_R NEM_R 2010 28.6884715 25.21372225 66.8470565833 17.17945125 45.93447175 0.0471337328 0.3887105397 0.2299825433 0.1684247239 0.0636032694 2011 30.04066625 35.0145618333 82.2207126667 20.0728955833 48.8560543333 0.0171656951 0.2470907568 0.0835896509 0.2152401804 -0.1171574928 2012 30.5563351667 43.6663364167 89.0935133333 24.39338925 43.1322015 0.2133540191 0.3738160199 0.1168760135 0.6824214577 -0.3506985746 2013 37.0756520833 59.9895125 99.506408 41.0399615 28.0057999167 0.1208724301 0.1378160502 0.1182962785 0.3820993351 -0.2741133244 2014 41.55707625 68.2570301667 111.27764575 56.7213035 20.329037 -0.1181998397 -0.1016996769 -0.0923001944 0.022267057 -0.0537110456 2015 36.6450365 61.31531225 101.0066974167 57.98432 19.2371431667 0.1703823654 -0.0203317851 0.018773336 0.0511620843 0.5826580504 2016 42.8887045 60.0686625 102.9029300833 60.9509186667 30.4458195 0.2165093881 0.2470590787 0.1996670663 0.5562107278 0.0635128659 2017 52.1745116667 74.9091709167 123.44925625 94.8524735 32.37952075 0.0842866873 0.1438702681 0.2059899747 0.0439615947 0.01478339 2018 56.5721284167 85.6863734167 148.8785654167 99.0223395 32.8581998333 -0.0889922795 -0.1779748495 0.2243685297 -0.0424417437 0.0662085672 2019 51.53764575 70.436354 182.28223025 94.81965875 35.0336941667 -1 -1 -1 -1 -1 Sheet3 NUE EMN LIN PKG NEM NUE_R EMN_R LIN_R PKG_R NEM_R Date Adj Close Adj Close Adj Close Adj Close Adj Close 2000 -19.23\% 26.21\% 10.22\% -25.77\% -15.90\% 1/1/00 6.772743 10.101394 13.561255 12 15.395399 2001 29.50\% -13.99\% 25.98\% 28.72\% 24.27\% W_NUE 0.2 0.1 0.4128 0.6212 0.1761 0.21 0.12 0.3 0.25 0.63 0.5234 0.3233 0.4 0.38 0.23 0.37 0.25 0.18 0.11 2/1/00 6.764231 9.103925 11.231715 6.007051 16.717709 2002 -30.18\% -5.74\% 0.54\% 1.67\% 33.35\% W_WMT 0.2 0.3 0.0434 0.00356 0.4129 0.24 0.4 0.23 0.17 0.09 0.2289 0.2234 0.12 0.19 0.18 0.24 0.06 0.25 0.29 3/1/00 6.806775 11.526357 13.852447 5.799911 16.953835 2003 42.24\% 20.30\% 41.64\% 30.35\% 68.56\% W_LIN 0.2 0.3 0.3164 0.3054 0.3212 0.16 0.22 0.14 0.19 0.15 0.0871 0.1246 0.3 0.1 0.12 0.19 0.12 0.31 0.32 4/1/00 5.872081 13.41555 14.858877 6.559426 17.73403 2004 87.61\% 49.16\% 26.17\% 10.98\% 7.32\% W_PKG 0.2 0.1 0.1053 0.0068 0.0076 0.3 0.18 0.23 0.2 0.08 0.0076 0.1968 0.1 0.18 0.4 0.08 0.2 0.18 0.17 5/1/00 5.342911 11.684514 14.043841 6.352285 17.450291 2005 20.77\% -2.41\% 24.15\% 6.38\% 29.62\% W_NEM 0.2 0.2 0.1221 0.06304 0.0822 0.09 0.08 0.1 0.19 0.05 0.153 0.1319 0.08 0.15 0.07 0.12 0.37 0.08 0.11 6/1/00 4.532088 12.245497 12.518244 5.592772 16.362608 2006 33.56\% 26.21\% 14.15\% -1.48\% -26.52\% 7/1/00 5.17725 12.133052 13.27915 6.283241 13.400302 2007 -5.43\% 6.54\% 42.56\% 27.18\% 9.04\% Port. Var 0.0466413 0.0469865 0.0398798 0.0451848 0.0520801 0.0535534 0.0585753 0.0514113 0.0458434 0.0513642 0.0517967 0.0504166 0.0414857 0.0498887 0.0562630 0.0472956 0.0479297 0.0462676 0.0479523 8/1/00 5.042244 11.162405 14.857751 6.455857 14.063213 2008 -18.08\% -51.01\% -25.49\% -42.37\% -24.49\% Port. Std 0.2159660 0.2167637 0.1996992 0.2125672 0.2282106 0.2314161 0.2420234 0.2267407 0.2141108 0.2266367 0.2275889 0.2245365 0.2036805 0.2233578 0.2371982 0.2174755 0.2189286 0.2150991 0.2189802 9/1/00 4.165801 9.560843 12.544911 6.110623 12.879441 2009 17.13\% 141.59\% 31.31\% 67.02\% 19.76\% Port. Mean 0.1446693 0.1502245 0.1380405 0.1292112 0.1535271 0.1526593 0.1578181 0.1458957 0.1424320 0.1290878 0.1265653 0.1418062 0.1415990 0.1368783 0.1536298 0.1393326 0.1289559 0.1551267 0.1569776 10/1/00 4.781046 11.212432 12.547032 8.112973 10.291664 2010 10.27\% 51.98\% 28.90\% 19.56\% 44.22\% CV 1.4928253 1.4429319 1.4466710 1.6451149 1.4864518 1.5158994 1.5335593 1.5541290 1.5032497 1.7556778 1.7981937 1.5834044 1.4384312 1.6317985 1.5439594 1.5608374 1.6977016 1.3866032 1.3949776 11/1/00 4.789663 11.294148 12.104939 8.112973 11.856758 2011 -11.36\% -14.43\% 16.64\% -8.66\% 10.22\% 12/1/00 5.470206 12.748823 14.94697 8.90701 12.947577 2012 -0.23\% 37.30\% 4.68\% 40.20\% -22.93\% 1/1/01 5.72886 12.331867 14.992466 7.788454 11.745152 2013 18.81\% 14.83\% 19.67\% 68.45\% -44.81\% 2/1/01 6.116317 13.58327 15.08378 8.009403 12.809436 2014 3.64\% -1.50\% 5.43\% 22.89\% -11.77\% 3/1/01 5.544818 12.994529 15.100696 7.291318 12.254495 2015 -5.28\% -3.18\% -13.51\% -14.89\% -28.21\% 4/1/01 7.048853 14.176756 16.069078 7.805025 13.883194 2016 56.02\% 25.36\% 19.57\% 71.27\% 71.08\% 5/1/01 7.116936 13.457799 17.074024 8.837964 15.604314 2017 11.64\% 21.79\% 33.03\% 33.19\% 3.93\% 6/1/01 6.793187 12.682928 15.957033 8.578347 14.172586 2018 -21.19\% -25.08\% -1.85\% -32.30\% -13.43\% 7/1/01 6.677796 11.787692 15.445399 10.909361 14.261664 2019 -6.05\% 0.73\% 32.53\% 21.56\% 32.11\% 8/1/01 6.77679 10.42034 16.034735 10.15261 15.817478 2020 15.51\% 45.56\% 31.44\% 47.67\% 34.37\% 9/1/01 5.535776 9.751443 14.307598 8.534159 17.998672 Mean 10.94\% 16.68\% 17.51\% 17.70\% 9.51\% 10/1/01 5.785469 9.329126 16.128756 9.776995 17.719252 Variance Covariance Matric 11/1/01 6.931357 10.430025 18.091011 9.666519 15.023179 NUE_R EMN_R LIN_R PKG_R NEM_R weights Mean 12/1/01 7.418853 10.606715 18.887527 10.025565 14.595469 NUE_R 0.0758865249 0.0410438212 0.0223989932 0.0415890792 0.0289603141 0.2 0.109 Port Mean 0.1446692972 =SUMPRODUCT(O26:O30,P26:P30) 1/1/02 8.404425 11.044926 19.909277 9.909567 16.705851 EMN_R 0.0410438212 0.1411675466 0.0319347413 0.0706850926 0.0255469819 0.2 0.167 Port Var 0.0466413059 ={MMULT(TRANSPOSE(O26:O30),MMULT(J26:N30,O26:O30))} 2/1/02 7.940638 12.10101 19.857838 10.594507 18.449873 LIN_R 0.0223989932 0.0319347413 0.0297129157 0.0334640211 0.0307107712 0.2 0.175 3/1/02 9.028433 13.418376 20.509472 10.931454 21.180637 PKG_R 0.0415890792 0.0706850926 0.0334640211 0.0975841371 0.0358219778 0.2 0.177 4/1/02 8.240255 12.24627 19.64506 10.909361 21.834623 NEM_R 0.0289603141 0.0255469819 0.0307107712 0.0358219778 0.0973699372 0.2 0.095 5/1/02 9.399106 12.843307 19.266617 11.124783 23.902443 1 6/1/02 9.169306 13.023808 19.60034 10.986691 20.165047 7/1/02 7.893907 12.42722 18.057646 10.495077 18.704918 8/1/02 7.075247 12.581435 19.345505 10.401175 21.840288 cofficient 9/1/02 5.358753 10.702774 17.646778 9.672045 21.111591 NUE_R EMN_R LIN_R PKG_R NEM_R 10/1/02 5.987053 10.289389 18.883881 9.600233 18.970503 NUE_R 11/1/02 7.137863 11.079351 20.443104 9.887471 17.9652 EMN_R 0.3965500606 Q4 12/1/02 5.86771 10.411141 20.016922 10.075278 22.278078 LIN_R 0.471708314 0.4930867506 W_NUE 0.2 0.1 0.4128 0.6212 0.1761 0.21 0.12 0.3 0.25 1/1/03 5.695635 9.808664 18.95953 9.26329 22.245182 PKG_R 0.4832894998 0.602241646 0.6214638576 W_WMT 0.2 0.3 0.0434 0.00356 0.4129 0.24 0.4 0.23 0.17 2/1/03 5.936818 9.224099 18.372044 9.528429 21.00038 NEM_R 0.3369058027 0.21790125 0.570959946 0.3674916724 W_LIN 0.2 0.3 0.3164 0.3054 0.3212 0.16 0.22 0.14 0.19 3/1/03 5.447314 8.307133 19.588736 9.948232 20.093662 W_PKG 0.2 0.1 0.1053 0.0068 0.0076 0.3 0.18 0.23 0.2 4/1/03 5.859834 8.880069 20.274281 10.39013 20.792601 W_NEM 0.2 0.2 0.1221 0.06304 0.0822 0.09 0.08 0.1 0.19 5/1/03 6.833841 9.508338 20.941021 9.942706 22.824154 6/1/03 7.007415 9.211651 20.979418 10.180229 24.978827 Port. Var 0.0466413 0.0469865 0.0398798 0.0451848 0.0520801 0.0535534 0.0585753 0.0514113 0.0458434 7/1/03 7.103741 10.700939 22.651464 10.439844 27.817419 Port. Std 0.2159660 0.2167637 0.1996992 0.2125672 0.2282106 0.2314161 0.2420234 0.2267407 0.2141108 8/1/03 7.404775 10.556494 22.357187 11.124783 30.252419 Port. Mean 0.1446693 0.1502245 0.1380405 0.1292112 0.1535271 0.1526593 0.1578181 0.1458957 0.1424320 9/1/03 6.608264 9.875528 21.702095 10.727081 30.152609 CV 1.4928253 1.4429319 1.4466710 1.6451149 1.4864518 1.5158994 1.5335593 1.5541290 1.5032497 10/1/03 7.932088 9.689169 24.456675 10.881742 33.770287 11/1/03 8.117264 10.647341 25.229956 10.887261 37.133438 12/1/03 8.101345 11.799536 26.853848 12.074861 37.495972 W_NUE 0.63 0.5234 0.3233 0.4 0.38 0.23 0.37 0.25 0.18 0.11 1/1/04 8.175164 12.045707 24.984308 12.037524 32.167412 W_WMT 0.09 0.2289 0.2234 0.12 0.19 0.18 0.24 0.06 0.25 0.29 2/1/04 9.131908 12.788552 25.626381 13.105545 33.549545 W_LIN 0.15 0.0871 0.1246 0.3 0.1 0.12 0.19 0.12 0.31 0.32 3/1/04 8.925752 12.88821 26.190834 12.549281 36.004982 W_PKG 0.08 0.0076 0.1968 0.1 0.18 0.4 0.08 0.2 0.18 0.17 4/1/04 8.653084 12.998477 25.895512 12.311171 28.911367 W_NEM 0.05 0.153 0.1319 0.08 0.15 0.07 0.12 0.37 0.08 0.11 5/1/04 9.592686 14.149623 26.207256 13.162537 30.697086 6/1/04 11.181998 14.116042 28.276075 13.386573 30.018723 Port. Var 0.0513642 0.0517967 0.0504166 0.0414857 0.0498887 0.0562630 0.0472956 0.0479297 0.0462676 0.0479523 7/1/04 12.219532 13.773587 28.06263 13.167414 31.343092 Port. Std 0.2266367 0.2275889 0.2245365 0.2036805 0.2233578 0.2371982 0.2174755 0.2189286 0.2150991 0.2189802 8/1/04 11.436544 14.343896 28.866444 12.908127 34.379044 Port. Mean 0.1290878 0.1265653 0.1418062 0.1415990 0.1368783 0.1536298 0.1393326 0.1289559 0.1551267 0.1569776 9/1/04 13.347263 14.658335 30.402952 13.793097 35.261936 CV 1.7556778 1.7981937 1.5834044 1.4384312 1.6317985 1.5439594 1.5608374 1.6977016 1.3866032 1.3949776 10/1/04 12.375031 14.77377 30.12941 12.440736 36.865452 11/1/04 15.501753 16.924313 32.057114 13.047742 36.733578 12/1/04 15.337651 17.966915 31.521629 13.359754 34.523235 1/1/05 16.495991 16.990641 30.909037 12.741068 32.331013 2/1/05 18.311253 18.117079 32.112446 14.00317 34.98188 3/1/05 16.907219 18.512428 34.282879 13.871828 32.844105 4/1/05 15.072178 17.066946 33.677509 12.915442 29.582672 5/1/05 15.620793 18.577681 33.706284 12.598181 29.013916 6/1/05 13.455826 17.430418 33.512123 12.142475 30.492058 7/1/05 16.443499 17.642546 35.6525 12.403494 29.335812 8/1/05 16.748943 15.279166 34.865688 12.234224 30.921743 9/1/05 17.493282 14.960654 34.598587 11.3295 36.851398 10/1/05 17.870878 16.956739 35.801445 11.98261 33.362621 11/1/05 20.029713 17.782728 37.678112 13.695259 36.11935 12/1/05 19.922216 16.580702 38.37368 13.553521 41.908669 1/1/06 25.396118 15.627995 38.300575 13.851394 48.501015 2/1/06 25.944851 15.991065 39.245728 13.618548 41.531929 3/1/06 31.595135 16.590771 40.09639 13.397639 40.723587 4/1/06 32.969082 17.771521 40.996262 13.567723 45.887424 5/1/06 31.893524 18.435291 38.491039 12.85554 41.004623 6/1/06 32.872108 17.657078 39.440548 13.290095 41.617912 7/1/06 32.593868 16.367176 40.235798 14.004318 40.357979 8/1/06 29.957905 17.297171 42.121387 14.132574 40.373745 9/1/06 30.337978 17.814936 43.405334 14.169212 33.677605 10/1/06 36.245663 20.258793 44.396759 14.184068 35.732601 11/1/06 37.139236 19.74667 45.98106 13.924714 37.0271 12/1/06 33.918633 19.723392 43.718838 13.646837 35.637875 1/1/07 40.486946 19.624624 46.652824 14.26298 35.673836 2/1/07 38.184685 19.795536 45.639259 15.299598 35.673836 3/1/07 40.857048 21.223154 46.578838 15.237156 33.213856 4/1/07 40.182529 22.852217 47.992878 15.616769 33.061134 5/1/07 42.765961 22.332388 50.624878 16.310562 32.252457 6/1/07 37.13686 21.714666 53.524525 15.963671 30.968052 7/1/07 32.123058 23.392288 57.214417 16.256378 33.180866 8/1/07 33.850803 22.692076 56.497559 16.593992 33.586201 9/1/07 38.054935 22.681879 62.546078 18.517744 35.549221 10/1/07 40.096867 22.790228 64.084732 20.481718 40.548798 11/1/07 38.280159 21.975681 64.00972 18.198114 39.584858 12/1/07 38.286621 20.907875 66.506264 18.140221 38.899742 1/1/08 37.76746 22.768059 60.715134 15.766322 43.304749 2/1/08 42.161903 22.678459 60.399132 14.81709 40.846146 3/1/08 44.231804 21.520586 63.370926 14.518015 36.160454 4/1/08 49.653027 25.500301 69.021851 14.477749 35.360813 5/1/08 49.192699 26.579296 71.856529 17.151997 38.01627 6/1/08 49.107178 23.890491 71.236649 14.168177 41.719498 7/1/08 37.886333 20.927628 71.130669 17.022343 38.442009 8/1/08 34.76115 21.053284 68.178589 17.175753 36.149586 9/1/08 26.153622 19.2174 54.442692 15.461515 31.067801 10/1/08 27.128969 14.206536 49.651085 11.360438 21.161936 11/1/08 23.894381 11.57205 45.002224 10.077919 27.034897 12/1/08 30.939495 11.153486 45.238487 9.085649 32.698948 1/1/09 27.529036 9.261413 47.773247 9.808242 32.059208 2/1/09 22.710279 7.330614 43.54533 7.314738 33.550156 3/1/09 25.760811 9.564775 51.632874 8.993191 36.072632 4/1/09 27.697466 14.457595 57.667046 11.120615 32.513927 5/1/09 29.889317 15.098852 56.577274 11.295799 39.486969 6/1/09 30.243263 13.809042 54.930939 11.351856 33.022968 7/1/09 30.507465 18.288977 60.742828 13.906829 33.479813 8/1/09 30.555485 19.209684 59.530807 14.394662 32.5406 9/1/09 32.249969 19.71792 63.469982 14.42294 35.641644 10/1/09 27.543812 19.503176 62.050705 13.014251 35.268547 11/1/09 29.313244 22.329666 64.073746 14.181831 43.529804 12/1/09 32.243877 22.374231 62.730236 16.381727 38.392906 1/1/10 28.418333 21.153416 59.118431 15.800069 34.845501 2/1/10 28.836262 22.283491 58.977158 17.061773 40.064983 3/1/10 31.608444 23.82893 65.146454 17.64245 41.406464 4/1/10 31.817455 25.221544 66.137482 17.838638 45.682705 5/1/10 30.223774 22.760445 61.26619 15.970378 43.841736 6/1/10 26.874937 20.110897 59.995068 15.883813 50.293354 7/1/10 27.721165 23.788507 68.943062 17.433689 45.617386 8/1/10 26.049681 23.374563 …