NO.

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20

EXPECTED RETURN
EXPECTED RISK
0.001274 1.25E-05
0.001388 1.12E-05
0.001044 1.33E-05
0.000815
1.1E-05
0.00105 1.13E-05
0.001324 1.16E-05
0.001453 1.09E-05
0.000929 1.27E-05
0.000686
1.1E-05
0.001388 1.12E-05
0.001095 1.33E-05
0.001223 1.31E-05
0.001017 1.39E-05
0.000787 1.36E-05
0.00131 1.09E-05
0.001434 2.03E-05
0.00143 1.45E-05
0.001453 1.09E-05
0.001256 9.05E-06
0.001562 2.35E-05

1
Assume weights of companies are ,
CO. A=
CO. B
CO. C
RISK OF COMPANIS
CO. A
CO. B
CO. C

CO RELATIONS OF COMPANIES
CO. A & B
CO. B & C
CO. C & A
EXPETED RETURN OF COMPANIES
CO. A
CO. B
CO. C
EXPECTED RETURN=

EXPECTED RISK=
1.25169E-05

2
Assume weights of companies are ,
CO. A=
CO. B
CO. C
RISK OF COMPANIS
CO. A
CO. B
CO. C
CO RELATIONS OF COMPANIES
CO. A & B
CO. B & C
CO. C & A

EXPETED RETURN OF COMPANIES

CO. A
CO. B
CO. C
EXPECTED RETURN=

EXPECTED RISK=
1.11755E-05

3
Assume weights of companies are ,
CO. A=
CO. B
CO. C
RISK OF COMPANIS
CO. A
CO. B
CO. C
CO RELATIONS OF COMPANIES
CO. A & B
CO. B & C
CO. C & A
EXPETED RETURN OF COMPANIES
CO. A
CO. B
CO. C
EXPECTED RETURN=

EXPECTED RISK=
1.3257E-05

Assume weights of companies are ,

CO. A=
CO. B
CO. C
RISK OF COMPANIS
CO. A
CO. B
CO. C
CO RELATIONS OF COMPANIES
CO. A & B
CO. B & C
CO. C & A
EXPETED RETURN OF COMPANIES
CO. A
CO. B
CO. C
EXPECTED RETURN=
EXPECTED RISK=
1.10223E-05

5
Assume weights of companies are ,
CO. A=
CO. B
CO. C
RISK OF COMPANIS
CO. A
CO. B
CO. C
CO RELATIONS OF COMPANIES
CO. A & B
CO. B & C
CO. C & A
EXPETED RETURN OF COMPANIES

CO. A
CO. B
CO. C
EXPECTED RETURN=

EXPECTED RISK=
1.12966E-05

20%
40%
40%

0.00811027
0.008586968
0.005233301

0.482991222
0.104074963
0.182191375
0.000355505
0.001365909
0.001640328
W2XR2X+W2YR2Y+W2ZR2Z
0.001273596
2

SQRT(W A A+W B

10%
45%
45%

0.00811027
0.008586968
0.005233301

0.482991222
0.104074963
0.182191375

2B
2
2
B+W C C+(2WAWBABrA,B+2WBWCBCrB,C+2WcWaCArC,A)

0.000355505
0.001365909
0.001640328
W2XR2X+W2YR2Y+W2ZR2Z
0.001388357
SQRT(W2A2A+W2B2BB+W2C2C+(2WAWBABrA,B+2WBWCBCrB,C+2WcWaCArC,A)

40%
30%
30%

0.00811027
0.008586968
0.005233301

0.482991222
0.104074963
0.182191375

0.000355505
0.001365909
0.001640328
2

W XR X+W YR Y+W ZR

2
Z

0.001044073
SQRT(W2A2A+W2B2BB+W2C2C+(2WAWBABrA,B+2WBWCBCrB,C+2WcWaCArC,A)

60%
20%
20%

0.00811027
0.008586968
0.005233301

0.482991222
0.104074963
0.182191375

0.000355505
0.001365909
0.001640328
W2XR2X+W2YR2Y+W2ZR2Z
0.000814551
SQRT(W2A2A+W2B2BB+W2C2C+(2WAWBABrA,B+2WBWCBCrB,C+2WcWaCArC,A)

30%
15%
45%

0.00811027
0.008586968
0.005233301

0.482991222
0.104074963
0.182191375

0.000355505
0.001365909
0.001640328
W2XR2X+W2YR2Y+W2ZR2Z
0.001049686
SQRT(W2A2A+W2B2BB+W2C2C+(2WAWBABrA,B+2WBWCBCrB,C+2WcWaCArC,A)

6
Assume weights of companies are ,
CO. A=
CO. B
CO. C
RISK OF COMPANIS
CO. A
CO. B
CO. C

CO RELATIONS OF COMPANIES
CO. A & B
CO. B & C
CO. C & A
EXPETED RETURN OF COMPANIES
CO. A
CO. B
CO. C
EXPECTED RISK=
1.15528E-05
EXPECTED RETURN=

7
Assume weights of companies are ,
CO. A=
CO. B
CO. C
RISK OF COMPANIS
CO. A
CO. B
CO. C
CO RELATIONS OF COMPANIES
CO. A & B
CO. B & C
CO. C & A
EXPETED RETURN OF COMPANIES
CO. A

CO. B
CO. C
EXPECTED RETURN=

EXPECTED RISK=
1.08578E-05

8
Assume weights of companies are ,
CO. A=
CO. B
CO. C
RISK OF COMPANIS
CO. A
CO. B
CO. C
CO RELATIONS OF COMPANIES
CO. A & B
CO. B & C
CO. C & A
EXPETED RETURN OF COMPANIES
CO. A
CO. B
CO. C
EXPECTED RETURN=

EXPECTED RISK=
1.26574E-05

Assume weights of companies are ,

CO. A=
CO. B
CO. C
RISK OF COMPANIS
CO. A
CO. B
CO. C
CO RELATIONS OF COMPANIES
CO. A & B
CO. B & C
CO. C & A
EXPETED RETURN OF COMPANIES
CO. A
CO. B
CO. C
EXPECTED RETURN=

EXPECTED RISK=
1.09786E-05

10
Assume weights of companies are ,
CO. A=
CO. B
CO. C
RISK OF COMPANIS
CO. A
CO. B
CO. C
CO RELATIONS OF COMPANIES
CO. A & B
CO. B & C
CO. C & A
EXPETED RETURN OF COMPANIES

CO. A
CO. B
CO. C
EXPECTED RETURN=

EXPECTED RISK=
1.11755E-05

15%
45%
40%

0.00811027
0.008586968
0.005233301

0.482991222
0.104074963
0.182191375

0.000355505
0.001365909
0.001640328
2

SQRT(W A A+W B
2

2B
2
2
B+W C C+(2WAWBABrA,B+2WBWCBCrB,C+2WcWaCArC,A)

W XR X+W YR Y+W ZR
0.001324116

5%
45%
50%

0.00811027
0.008586968
0.005233301

0.482991222
0.104074963
0.182191375

0.000355505

2
Z

0.001365909
0.001640328
W2XR2X+W2YR2Y+W2ZR2Z
0.001452599
2

SQRT(W A A+W B

2B
2
2
B+W C C+(2WAWBABrA,B+2WBWCBCrB,C+2WcWaCArC,A)

50%
25%
25%

0.00811027
0.008586968
0.005233301

0.482991222
0.104074963
0.182191375

0.000355505
0.001365909
0.001640328
2

W XR X+W YR Y+W ZR

2
Z

0.000929312
SQRT(W2A2A+W2B2BB+W2C2C+(2WAWBABrA,B+2WBWCBCrB,C+2WcWaCArC,A)

70%
20%
10%

0.00811027
0.008586968
0.005233301

0.482991222
0.104074963
0.182191375

0.000355505
0.001365909
0.001640328
W2XR2X+W2YR2Y+W2ZR2Z
0.000686068
2

SQRT(W A A+W B

10%
45%
45%

0.00811027
0.008586968
0.005233301

0.482991222
0.104074963
0.182191375

2B
2
2
B+W C C+(2WAWBABrA,B+2WBWCBCrB,C+2WcWaCArC,A)

0.000355505
0.001365909
0.001640328
W2XR2X+W2YR2Y+W2ZR2Z
0.001388357
SQRT(W2A2A+W2B2BB+W2C2C+(2WAWBABrA,B+2WBWCBCrB,C+2WcWaCArC,A)

11
Assume weights of companies are ,
CO. A=
CO. B
CO. C
RISK OF COMPANIS
CO. A
CO. B
CO. C

CO RELATIONS OF COMPANIES
CO. A & B
CO. B & C
CO. C & A
EXPETED RETURN OF COMPANIES
CO. A
CO. B
CO. C
EXPECTED RETURN=
EXPECTED RISK=
1.33376E-05

12
Assume weights of companies are ,
CO. A=
CO. B
CO. C
RISK OF COMPANIS
CO. A
CO. B
CO. C
CO RELATIONS OF COMPANIES
CO. A & B
CO. B & C
CO. C & A

EXPETED RETURN OF COMPANIES

CO. A
CO. B
CO. C
EXPECTED RETURN=
EXPECTED RISK=
1.31429E-05

13
Assume weights of companies are ,
CO. A=
CO. B
CO. C
RISK OF COMPANIS
CO. A
CO. B
CO. C

CO RELATIONS OF COMPANIES
CO. A & B
CO. B & C
CO. C & A
EXPETED RETURN OF COMPANIES
CO. A
CO. B
CO. C
EXPECTED RETURN=

EXPECTED RISK=
1.38831E-05

14

Assume weights of companies are ,

CO. A=
CO. B
CO. C
RISK OF COMPANIS
CO. A
CO. B
CO. C
CO RELATIONS OF COMPANIES
CO. A & B
CO. B & C
CO. C & A
EXPETED RETURN OF COMPANIES
CO. A
CO. B
CO. C
EXPECTED RETURN=

EXPECTED RISK=
1.3624E-05

15
Assume weights of companies are ,
CO. A=
CO. B
CO. C
RISK OF COMPANIS
CO. A
CO. B
CO. C
CO RELATIONS OF COMPANIES
CO. A & B
CO. B & C
CO. C & A

EXPETED RETURN OF COMPANIES

CO. A
CO. B
CO. C
EXPECTED RETURN=

EXPECTED RISK=
1.08718E-05

35%
35%
30%

0.00811027
0.008586968
0.005233301

0.482991222
0.104074963
0.182191375

0.000355505
0.001365909
0.001640328
2

W XR X+W YR Y+W ZR

2
Z

0.001094594
2
2
2
2B
2
2
SQRT(W A A+W B B+W C C+(2WAWBABrA,B+2WBWCBCrB,C+2WcWaCArC,A)

25%
35%
40%

0.00811027
0.008586968
0.005233301

0.482991222
0.104074963
0.182191375

0.000355505
0.001365909
0.001640328
W2XR2X+W2YR2Y+W2ZR2Z
0.001223076
SQRT(W2A2A+W2B2BB+W2C2C+(2WAWBABrA,B+2WBWCBCrB,C+2WcWaCArC,A)

40%
40%
20%

0.00811027
0.008586968
0.005233301

0.482991222
0.104074963
0.182191375
0.000355505
0.001365909
0.001640328
W2XR2X+W2YR2Y+W2ZR2Z
0.001016631
2

SQRT(W A A+W B

2B
2
2
B+W C C+(2WAWBABrA,B+2WBWCBCrB,C+2WcWaCArC,A)

60%
30%
10%

0.00811027
0.008586968
0.005233301

0.482991222
0.104074963
0.182191375

0.000355505
0.001365909
0.001640328
W2XR2X+W2YR2Y+W2ZR2Z
0.000787109
2

SQRT(W A A+W B

15%
50%
35%

0.00811027
0.008586968
0.005233301

0.482991222
0.104074963
0.182191375

2B
2
2
B+W C C+(2WAWBABrA,B+2WBWCBCrB,C+2WcWaCArC,A)

0.000355505
0.001365909
0.001640328
W2XR2X+W2YR2Y+W2ZR2Z
0.001310395
SQRT(W2A2A+W2B2BB+W2C2C+(2WAWBABrA,B+2WBWCBCrB,C+2WcWaCArC,A)

16
Assume weights of companies are ,
CO. A=
CO. B
CO. C
RISK OF COMPANIS
CO. A
CO. B
CO. C

CO RELATIONS OF COMPANIES
CO. A & B
CO. B & C
CO. C & A
EXPETED RETURN OF COMPANIES
CO. A
CO. B
CO. C
EXPECTED RISK=
2.02628E-05
EXPECTED RETURN=

17
Assume weights of companies are ,
CO. A=
CO. B
CO. C
RISK OF COMPANIS
CO. A
CO. B
CO. C
CO RELATIONS OF COMPANIES
CO. A & B
CO. B & C
CO. C & A

EXPETED RETURN OF COMPANIES

CO. A
CO. B
CO. C
EXPECTED RETURN=

EXPECTED RISK=
1.44947E-05

18
Assume weights of companies are ,
CO. A=
CO. B
CO. C
RISK OF COMPANIS
CO. A
CO. B
CO. C
CO RELATIONS OF COMPANIES
CO. A & B
CO. B & C
CO. C & A
EXPETED RETURN OF COMPANIES
CO. A
CO. B
CO. C
EXPECTED RETURN=

EXPECTED RISK=
1.08578E-05

Assume weights of companies are ,

CO. A=
CO. B
CO. C
RISK OF COMPANIS
CO. A
CO. B
CO. C

CO RELATIONS OF COMPANIES
CO. A & B
CO. B & C
CO. C & A
EXPETED RETURN OF COMPANIES
CO. A
CO. B
CO. C
EXPECTED RETURN=

EXPECTED RISK=
9.05403E-06

Assume weights of companies are ,

CO. A=
CO. B
CO. C
RISK OF COMPANIS
CO. A
CO. B
CO. C

CO RELATIONS OF COMPANIES
CO. A & B
CO. B & C

CO. C & A
EXPETED RETURN OF COMPANIES
CO. A
CO. B
CO. C
EXPECTED RETURN=

EXPECTED RISK=
2.3469E-05

15%
5%
80%

0.00811027
0.008586968
0.005233301

0.482991222
0.104074963
0.182191375

0.000355505
0.001365909
0.001640328
2

SQRT(W A A+W B
2

2B
2
2
B+W C C+(2WAWBABrA,B+2WBWCBCrB,C+2WcWaCArC,A)

W XR X+W YR Y+W ZR
0.001433884

10%
30%
60%

0.00811027
0.008586968
0.005233301

0.482991222
0.104074963
0.182191375

2
Z

0.000355505
0.001365909
0.001640328
W2XR2X+W2YR2Y+W2ZR2Z
0.00142952
SQRT(W2A2A+W2B2BB+W2C2C+(2WAWBABrA,B+2WBWCBCrB,C+2WcWaCArC,A)

5%
45%
50%

0.00811027
0.008586968
0.005233301

0.482991222
0.104074963
0.182191375

0.000355505
0.001365909
0.001640328
W2XR2X+W2YR2Y+W2ZR2Z
0.001452599
2

SQRT(W A A+W B

2B
2
2
B+W C C+(2WAWBABrA,B+2WBWCBCrB,C+2WcWaCArC,A)

15%
70%
15%

0.00811027
0.008586968
0.005233301

0.482991222
0.104074963
0.182191375
0.000355505
0.001365909
0.001640328
2

W XR X+W YR Y+W ZR

2
Z

0.001255512
SQRT(W2A2A+W2B2BB+W2C2C+(2WAWBABrA,B+2WBWCBCrB,C+2WcWaCArC,A)

5%
5%
90%

0.00811027
0.008586968
0.005233301

0.482991222
0.104074963

0.182191375
0.000355505
0.001365909
0.001640328
2

W XR X+W YR Y+W ZR

2
Z

0.001562366
SQRT(W2A2A+W2B2BB+W2C2C+(2WAWBABrA,B+2WBWCBCrB,C+2WcWaCArC,A)