SUMMARY OUTPUT

Regression Statistics
Multiple R 0.408398208
R Square 0.1667890963
Adjusted R Squar 0.1635720658
Standard Error 0.0220368276
Observations 261

ANOVA
df SS MS F Significance F
Regression 1 0.025177 0.025177 51.84567 6.51E-12
Residual 259 0.125776 0.000486
Total 260 0.150953

Coefficients Standard Error t Stat P-value Lower 95%Upper 95%Lower 95.0%

Upper 95.0%
Intercept 0.0008330605 0.00138 0.603884 0.546449 -0.001883 0.00355 -0.001883 0.00355
X Variable 1 0.6215121133 0.086316 7.200394 6.51E-12 0.451541 0.791483 0.451541 0.791483
Upper 95.0%
Date WMT WMTRETURNS SP500 SP500 RETURNS
2/18/2013 61.78191 1515.6 BETA
2/25/2013 62.95786 0.0190338738 1518.2 0.0017154757 0.62
3/4/2013 64.08997 0.0179820453 1551.18 0.0217231617
3/11/2013 64.03532 -0.0008527076 1560.7 0.0061371966
3/18/2013 65.60748 0.0245515615 1556.89 -0.0024411713
3/25/2013 66.09326 0.0074043231 1569.19 0.0079003179
4/1/2013 67.47113 0.0208473293 1553.28 -0.0101389332
4/8/2013 69.38777 0.028406846 1588.85 0.0228998933
4/15/2013 69.14929 -0.0034369168 1555.25 -0.021147356
4/22/2013 69.81173 0.0095798089 1582.24 0.0173541167
4/29/2013 69.99722 0.0026569461 1614.42 0.0203382889
5/6/2013 69.67924 -0.0045427236 1633.7 0.0119423115
5/13/2013 69.19087 -0.0070087593 1667.47 0.0206708827
5/20/2013 68.69328 -0.0071916567 1649.6 -0.0107168317
5/27/2013 66.49857 -0.0319492993 1630.74 -0.0114330664
6/3/2013 67.82251 0.0199092543 1643.38 0.0077510916
6/10/2013 66.52525 -0.0191272337 1626.73 -0.0101315733
6/17/2013 65.31683 -0.0181649366 1592.43 -0.0210851994
6/24/2013 66.18758 0.0133312969 1606.28 0.0086973836
7/1/2013 66.82735 0.0096659065 1631.89 0.0159436621
7/8/2013 68.9776 0.0321762437 1680.19 0.0295975376
7/15/2013 69.37747 0.0057971283 1692.09 0.0070825475
7/22/2013 69.30638 -0.0010246986 1691.65 -0.0002599992
7/29/2013 69.97279 0.0096154638 1709.67 0.0106523334
8/5/2013 68.32897 -0.0234923019 1691.42 -0.0106745744
8/12/2013 66.2498 -0.0304288201 1655.83 -0.0210415432
8/19/2013 65.65088 -0.0090403742 1663.5 0.0046321447
8/26/2013 65.23966 -0.0062638004 1632.97 -0.0183528879
9/2/2013 64.89102 -0.0053438817 1655.17 0.0135949058
9/9/2013 66.4733 0.0243835734 1687.99 0.0198287458
9/16/2013 67.78738 0.0197685245 1709.91 0.0129858851
9/23/2013 66.4733 -0.0193853056 1691.75 -0.0106204617
9/30/2013 65.07875 -0.0209790407 1690.5 -0.0007388799
10/7/2013 66.8845 0.0277471213 1703.2 0.0075125413
10/14/2013 67.68011 0.0118952524 1744.5 0.0242485029
10/21/2013 68.01085 0.0048868422 1759.77 0.0087532359
10/28/2013 68.89586 0.0130127768 1761.64 0.001062636
11/4/2013 69.69147 0.01154798 1770.61 0.0050918292
11/11/2013 70.81783 0.0161621795 1798.18 0.015570944
11/18/2013 71.34526 0.0074476721 1804.76 0.0036592309
11/25/2013 72.41798 0.0150356588 1805.81 0.000581822
12/2/2013 71.46147 -0.0132082108 1805.09 -0.0003987645
12/9/2013 70.20506 -0.0175816278 1775.32 -0.0164922639
12/16/2013 69.62061 -0.0083248982 1818.32 0.0242209862
12/23/2013 70.55571 0.0134313239 1841.4 0.0126930786
12/30/2013 70.71758 0.002294258 1831.37 -0.0054469582
1/6/2014 70.1691 -0.0077559919 1842.37 0.0060064324
1/13/2014 68.50568 -0.0237059054 1838.7 -0.0019920233
1/20/2014 66.91419 -0.0232315203 1790.29 -0.026328337
1/27/2014 67.14797 0.0034938332 1782.59 -0.0043010199
2/3/2014 66.31177 -0.0124531535 1797.02 0.0080949934
2/10/2014 68.14602 0.0276610179 1838.63 0.0231549925
2/17/2014 65.74532 -0.0352288077 1836.25 -0.0012944448
2/24/2014 67.16595 0.0216080945 1859.45 0.0126344185
3/3/2014 67.05805 -0.0016063944 1878.04 0.0099976275
3/10/2014 67.21919 0.0024030075 1841.13 -0.0196534862
3/17/2014 68.8662 0.0245020793 1866.52 0.013790452
3/24/2014 68.78478 -0.0011824087 1857.62 -0.0047682451
3/31/2014 69.96118 0.0171027237 1865.09 0.0040212589
4/7/2014 69.22819 -0.0104771529 1815.69 -0.0264866714
4/14/2014 70.27792 0.0151633031 1864.85 0.0270751266
4/21/2014 71.14666 0.0123615504 1863.4 -0.0007775167
4/28/2014 71.59913 0.0063596661 1881.14 0.0095202269
5/5/2014 71.67152 0.0010111157 1878.48 -0.0014140548
5/12/2014 70.12116 -0.021631492 1877.86 -0.0003300514
5/19/2014 68.84639 -0.0181795618 1900.53 0.012072276
5/26/2014 69.90263 0.0153419228 1923.57 0.0121228903
6/2/2014 70.30327 0.0057314299 1949.44 0.0134489495
6/9/2014 68.54591 -0.0249967612 1936.16 -0.0068121652
6/16/2014 68.91014 0.0053136209 1962.87 0.0137953271
6/23/2014 68.60053 -0.0044929236 1960.96 -0.0009730823
6/30/2014 68.97387 0.0054421735 1985.44 0.0124836715
7/7/2014 69.94816 0.0141254799 1967.57 -0.0090005216
7/14/2014 70.19399 0.0035145314 1978.22 0.0054127809
7/21/2014 69.17419 -0.0145283942 1978.34 6.065806723E-05
7/28/2014 66.96156 -0.0319862668 1925.15 -0.0268861484
8/4/2014 67.99048 0.0153657704 1931.59 0.0033451637
8/11/2014 67.73267 -0.0037918986 1955.06 0.01215066
8/18/2014 69.40994 0.0247630737 1988.4 0.0170531667
8/25/2014 69.19913 -0.0030371445 2003.37 0.0075286516
9/1/2014 71.04139 0.0266226191 2007.71 0.0021663327
9/8/2014 69.44662 -0.0224484913 1985.54 -0.0110423928
9/15/2014 70.4273 0.014121379 2010.4 0.0125205156
9/22/2014 70.10652 -0.0045547253 1982.85 -0.0137037643
9/29/2014 70.86725 0.0108510161 1967.9 -0.0075396284
10/6/2014 71.75629 0.0125452168 1906.13 -0.0313887994
10/13/2014 67.91599 -0.0535187756 1886.76 -0.0101619485
10/20/2014 70.0057 0.0307691039 1964.58 0.0412452806
10/27/2014 69.90487 -0.0014403113 2018.05 0.0272170613
 11/3/2014 72.19624 0.0327783605 2031.92 0.0068729688
11/10/2014 76.03655 0.0531927454 2039.82 0.0038879
11/17/2014 77.58552 0.020371334 2063.5 0.0116088942
11/24/2014 80.23433 0.0341405338 2067.56 0.0019675595
12/1/2014 77.09975 -0.0390677537 2075.37 0.0037774274
12/8/2014 77.24475 0.0018806415 2002.33 -0.0351938001
12/15/2014 78.48901 0.0161080589 2070.65 0.0341202237
12/22/2014 80.10192 0.0205494619 2088.77 0.0087509327
12/29/2014 79.17104 -0.0116212569 2058.2 -0.0146354403
1/5/2015 82.35078 0.0401630212 2044.81 -0.0065056323
1/12/2015 79.97289 -0.0288751471 2019.42 -0.0124168085
1/19/2015 81.57659 0.0200530197 2051.82 0.0160442222
1/26/2015 78.32311 -0.0398825075 1994.99 -0.0276973985
2/2/2015 80.48903 0.0276536126 2055.47 0.0303159321
2/9/2015 79.08809 -0.0174053535 2096.99 0.0201997692
2/16/2015 77.69639 -0.017596847 2110.3 0.006347221
2/23/2015 77.35537 -0.0043891101 2104.5 -0.0027484476
3/2/2015 76.12033 -0.0159657823 2071.26 -0.0157947208
3/9/2015 75.48437 -0.0083547193 2053.4 -0.0086228228
3/16/2015 77.18022 0.0224663075 2108.1 0.0266388422
3/23/2015 75.42782 -0.0227053506 2061.02 -0.0223329424
3/30/2015 74.85294 -0.007621525 2066.96 0.0028820394
4/6/2015 74.77876 -0.0009910098 2102.06 0.0169815084
4/13/2015 72.2104 -0.0343461151 2081.18 -0.0099331734
4/20/2015 74.02773 0.0251671494 2117.69 0.0175429373
4/27/2015 72.87801 -0.0155310308 2108.29 -0.0044387527
5/4/2015 72.81311 -0.0008904744 2116.1 0.0037044519
5/11/2015 73.93511 0.0154093404 2122.73 0.0031330663
5/18/2015 70.78139 -0.0426553083 2126.06 0.0015687718
5/25/2015 69.29784 -0.0209596204 2107.39 -0.0087815798
6/1/2015 68.16882 -0.0162921826 2092.83 -0.0069089327
6/8/2015 67.58102 -0.0086227981 2094.11 0.0006116259
6/15/2015 67.87025 0.0042797521 2109.99 0.0075831175
6/22/2015 67.29177 -0.0085232635 2101.49 -0.0040284551
6/29/2015 67.04918 -0.0036050768 2076.78 -0.0117583054
7/6/2015 68.22483 0.0175341744 2076.62 -0.000077
7/13/2015 68.47675 0.0036925266 2126.64 0.0240871094
7/20/2015 66.78791 -0.0246630123 2079.65 -0.0220958852
7/27/2015 67.16114 0.0055882869 2103.84 0.0116318549
8/3/2015 66.48003 -0.0101414896 2077.57 -0.0124867
8/10/2015 67.9955 0.0227959147 2091.54 0.0067241877
8/17/2015 62.50927 -0.0806851789 1970.89 -0.0576847786
8/24/2015 61.0062 -0.0240455056 1988.87 0.0091227719
8/31/2015 60.0198 -0.0161689296 1921.22 -0.0340143017
9/7/2015 60.73376 0.0118953916 1961.05 0.0207316594
 9/14/2015 59.50312 -0.0202628663 1958.03 -0.0015400015
9/21/2015 59.91646 0.0069465437 1931.34 -0.0136310795
9/28/2015 61.04377 0.0188147303 1951.36 0.01036587
10/5/2015 62.65019 0.0263157895 2014.89 0.0325567965
10/12/2015 55.32268 -0.116959064 2033.11 0.0090426623
10/19/2015 54.76841 -0.0100187486 2075.15 0.0206776403
10/26/2015 53.77263 -0.0181817388 2079.36 0.0020288679
11/2/2015 55.21934 0.0269042453 2099.2 0.0095413218
11/9/2015 53.0023 -0.0401497186 2023.04 -0.0362804467
11/16/2015 56.4312 0.0646933812 2089.17 0.0326883708
11/23/2015 56.26211 -0.0029963922 2090.11 0.000450028
11/30/2015 56.04603 -0.0038405244 2091.69 0.0007558616
12/7/2015 56.23129 0.003305515 2012.37 -0.0379214646
12/14/2015 55.74818 -0.0085915862 2005.55 -0.003389012
12/21/2015 57.62382 0.033644867 2060.99 0.0276432598
12/28/2015 58.06904 0.0077262844 2043.94 -0.0082727471
1/4/2016 60.19098 0.0365417472 1922.03 -0.0596445666
1/11/2016 58.66584 -0.0253383983 1880.33 -0.0216958489
1/18/2016 59.38578 0.0122719465 1906.9 0.0141305349
1/25/2016 62.86234 0.0585420112 1940.24 0.0174838563
2/1/2016 63.46861 0.0096444067 1880.05 -0.0310219052
2/8/2016 62.69184 -0.0122387423 1864.78 -0.0081221348
2/15/2016 61.25195 -0.0229677111 1917.78 0.0284215828
2/22/2016 63.00444 0.0286111875 1948.05 0.0157838853
2/29/2016 63.26021 0.0040595869 1999.99 0.026662529
3/7/2016 63.62965 0.0058399109 2022.19 0.0111000311
3/14/2016 63.89074 0.004103386 2049.58 0.0135447895
3/21/2016 64.89277 0.0156834301 2035.94 -0.0066550886
3/28/2016 65.90435 0.0155885011 2072.78 0.0180948795
4/4/2016 64.95004 -0.0144803037 2047.6 -0.012147962
4/11/2016 65.90435 0.0146930637 2080.73 0.0161799201
4/18/2016 65.57988 -0.0049233472 2091.58 0.0052145632
4/25/2016 63.81441 -0.026920894 2065.3 -0.0125646774
5/2/2016 65.13136 0.020637094 2057.14 -0.0039510753
5/9/2016 61.9726 -0.0484982387 2046.61 -0.0051187127
5/16/2016 67.1559 0.0836385771 2052.32 0.0027900201
5/23/2016 68.01145 0.0127398041 2099.06 0.0227742211
5/30/2016 68.12682 0.0016962437 2099.13 3.326441266E-05
6/6/2016 68.38636 0.0038097186 2096.07 -0.0014576587
6/13/2016 68.20371 -0.002670825 2071.22 -0.011855566
6/20/2016 69.17461 0.0142353249 2037.41 -0.0163236824
6/27/2016 69.99171 0.0118120356 2102.95 0.0321682508
7/4/2016 70.98183 0.0141463474 2129.9 0.0128153078
7/11/2016 70.81843 -0.002302082 2161.74 0.0149491006
7/18/2016 70.70309 -0.0016286863 2175.03 0.0061478434
 7/25/2016 70.14553 -0.0078858792 2173.6 -0.0006574305
8/1/2016 70.90495 0.0108262635 2182.87 0.0042648227
8/8/2016 71.02992 0.0017625005 2184.05 0.0005405416
8/15/2016 70.47085 -0.0078708668 2183.87 -8.238455894E-05
8/22/2016 68.85451 -0.0229363069 2169.04 -0.0067907326
8/29/2016 70.17082 0.019117238 2179.98 0.0050436787
9/5/2016 68.04149 -0.0303448948 2127.81 -0.0239313762
9/12/2016 70.52892 0.0365576068 2139.16 0.0053340536
9/19/2016 70.02563 -0.0071360228 2164.69 0.0119346052
9/26/2016 69.80302 -0.0031788791 2168.27 0.001653853
10/3/2016 66.49289 -0.0474210831 2153.74 -0.0067012087
10/10/2016 66.25092 -0.0036390809 2132.98 -0.0096390512
10/17/2016 66.14446 -0.0016068155 2141.16 0.0038349783
10/24/2016 67.74146 0.0241440013 2126.41 -0.0068887895
10/31/2016 66.93813 -0.0118587503 2085.18 -0.0193894788
11/7/2016 68.94163 0.0299306557 2164.45 0.0380159131
11/14/2016 66.33803 -0.0377652817 2181.9 0.0080620718
11/21/2016 68.94163 0.0392474736 2213.35 0.0144141333
11/28/2016 68.60285 -0.0049139542 2191.95 -0.0096686679
12/5/2016 67.82856 -0.0112865862 2259.53 0.0308310315
12/12/2016 69.19135 0.0200916104 2258.07 -0.0006461348
12/19/2016 67.78763 -0.0202874651 2263.79 0.0025331238
12/26/2016 67.37821 -0.0060396862 2238.83 -0.0110257403
1/2/2017 66.53989 -0.0124420933 2276.98 0.0170401061
1/9/2017 65.43835 -0.0165544618 2274.64 -0.0010277152
1/16/2017 65.4871 0.0007448995 2271.31 -0.001463895
1/23/2017 64.0054 -0.0226257847 2294.69 0.0102935669
1/30/2017 64.82423 0.0127931702 2297.42 0.0011896949
2/6/2017 66.30592 0.0228569149 2316.1 0.0081309367
2/13/2017 67.62191 0.0198473089 2351.16 0.0151374347
2/20/2017 70.56581 0.0435347212 2367.34 0.0068817846
2/27/2017 68.26527 -0.0326012975 2383.12 0.0066657212
3/6/2017 68.33351 0.0009995858 2372.6 -0.0044143889
3/13/2017 68.62975 0.0043352375 2378.25 0.0023813124
3/20/2017 68.3548 -0.0040063673 2343.98 -0.0144097635
3/27/2017 70.78027 0.0354835228 2362.72 0.007994945
4/3/2017 71.58547 0.011376137 2355.54 -0.0030388417
4/10/2017 71.83097 0.0034294528 2328.95 -0.0112883193
4/17/2017 73.58869 0.0244702386 2348.69 0.0084759185
4/24/2017 73.82436 0.0032025573 2384.2 0.015119071
5/1/2017 75.12055 0.0175577266 2399.29 0.0063292041
5/8/2017 74.3448 -0.0103267212 2390.9 -0.0034969249
5/15/2017 77.86725 0.0473798552 2381.73 -0.0038353433
5/22/2017 77.23458 -0.0081249564 2415.82 0.0143131624
5/29/2017 78.70752 0.0190709781 2439.07 0.0096240611
 6/5/2017 78.5098 -0.0025121361 2431.77 -0.0029929636
6/12/2017 74.37771 -0.0526314958 2433.15 0.0005674394
6/19/2017 73.98229 -0.0053163241 2438.3 0.0021166583
6/26/2017 74.81267 0.0112239832 2423.41 -0.0061067698
7/3/2017 74.46668 -0.0046247916 2425.18 0.0007303841
7/10/2017 75.4651 0.0134076216 2459.27 0.0140567253
7/17/2017 75.27728 -0.00248874 2472.54 0.0053959179
7/24/2017 78.89533 0.0480629594 2472.1 -0.0001779308
7/31/2017 79.55766 0.008394958 2476.83 0.0019133449
8/7/2017 79.47858 -0.000993971 2441.32 -0.0143368777
8/14/2017 78.89421 -0.007352497 2425.55 -0.0064596278
8/21/2017 78.21777 -0.0085739878 2443.05 0.0072148583
8/28/2017 77.95915 -0.0033065119 2476.55 0.0137123675
9/4/2017 78.46646 0.0065074598 2461.43 -0.0061053145
9/11/2017 79.9586 0.0190162011 2500.23 0.0157632145
9/18/2017 79.11305 -0.0105747606 2502.22 0.0007959232
9/25/2017 77.73035 -0.0174775839 2519.36 0.0068499717
10/2/2017 78.58584 0.0110058817 2549.33 0.0118958663
10/9/2017 86.16589 0.0964557507 2553.17 0.0015062169
10/16/2017 86.98159 0.0094665762 2575.21 0.0086324215
10/23/2017 87.70776 0.0083485023 2581.07 0.0022755842
10/30/2017 89.20985 0.0171260795 2587.84 0.0026229509
11/6/2017 90.44334 0.0138269267 2582.3 -0.0021407965
11/13/2017 96.95901 0.0720413765 2578.85 -0.0013359993
11/20/2017 96.11346 -0.0087206236 2602.42 0.0091396642
11/27/2017 96.83963 0.0075552994 2642.22 0.0152934769
12/4/2017 96.04383 -0.0082176997 2651.5 0.0035122091
12/11/2017 97.11 0.0111008691 2675.81 0.0091684175
12/18/2017 98.21 0.01132734 2683.34 0.0028141119
12/25/2017 98.75 0.005498432 2673.61 -0.0036260707
1/1/2018 100.13 0.0139746532 2743.15 0.0260096993
1/8/2018 100.87 0.0073904526 2786.24 0.0157082513
1/15/2018 104.59 0.0368790809 2810.3 0.0086353146
1/22/2018 108.39 0.0363323754 2872.87 0.0222645507
1/29/2018 104.48 -0.0360734019 2762.13 -0.0385468989
2/5/2018 99.37 -0.0489088807 2619.55 -0.0516195255
2/12/2018 104.78 0.0544429489 2732.22 0.0430111736
2/16/2018 104.78 0 2732.22 0