Foundations Of Finan

Ẩmt assessment assumption autocorrelations bivariate normal Black model c₁ capital market Chapter coefficient coefficient of determination common stocks continuously compounded covariances daily returns dividend E(ROM E(Rp efficient portfolios end of month equation estimates expected real return expected return expected value Figure firms folio fractile hypothesis implies individual securities interpretation invested investor joint distribution least squares values market efficiency market equilibrium market model market portfolio minimum variance portfolio model of market monthly returns normal distribution NYSE o(Rp period portfolio funds portfolio return positive variance securities probability distribution problem R₁ random variable returns on securities risk of security risk-free borrowing risk-free security Řit Rit and Rmt sample autocorrelations sample mean security prices Sharpe-Lintner model short-selling split ẞim standard deviation statistical studentized range Table tests of market tion two-parameter model weighted average zero