TM
Document Sample
FIA
t Returns Forex Local B US B Dummy
-60 0.015519588 -0.006550985 0.021507337 0
-59 -0.010661794 0.037499454 -0.043438281 -0.007523372 0
-58 0.027021228 0.004928737 0.003047275 0.108856773 0
-57 0.026360284 0.052594808 -0.09239819 0.001747957 0
-56 0.049550557 -0.001261118 -0.008918656 0.005287596 0
-55 -0.032190361 0.015883565 -0.0025799 -0.009579382 0
-54 0.080173213 0.013149287 0.058348752 0.025358386 0
-53 0.105745912 0.009491832 0.089590168 0.080489834 0
-52 0.065219011 0.058897275 -0.020511191 0.01198073 0
-51 0.245585849 -0.043540242 0.03279671 0.002842044 0
-50 -0.010691586 -0.002147278 0.019064992 -0.002075307 0
-49 0.052605044 -0.002025316 0.059434106 0.06206921 0
-48 0.055042245 -0.010679858 0.096136156 0.014801239 0
-47 0.259647622 -0.040360009 0.092845836 -0.002859982 0
-46 0.108398681 -0.002324649 0.059977743 -0.008940368 0
-45 0.039218651 -0.033357437 0.116997108 -0.031498578 0
-44 0.15162588 -0.0208215 0.011309872 0.045528194 0
-43 0.023450291 -0.03426615 0.073634501 0.069619264 0
-42 0.123457708 -0.01670085 0.034199821 0.051645661 0
-41 0.191589677 -0.029350417 0.072399718 0.006349593 0
-40 0.164931156 -0.072632387 0.26868355 0.075811286 0
-39 0.4613648 0.046542421 0.174035008 0.055865242 0
-38 0.309590392 -0.050450735 0.113999427 -0.013865158 0
-37 -0.041006624 0.055829447 -0.069311392 0.049277419 0
-36 0.077556524 -0.04659894 -0.109002455 0.013063771 0
-35 -0.001203649 -0.047536318 0.190262228 -0.053337376 0
-34 0.221820854 -0.016624685 0.098001907 0.07393467 0
-33 0.134926786 -0.013920294 -0.06670186 -0.085007496 0
-32 -0.089852754 0.022930849 -0.001452637 0.056755911 0
-31 0.073901525 -0.040087566 -0.030692544 0.023505521 0
-30 -0.075390135 -0.013993541 0.02142103 -0.025194516 0
-29 0.075399095 -0.046425135 -0.05667239 0.132805368 0
-28 -0.069656059 0.00886776 -0.054804065 0.035913075 0
-27 -0.082093358 -0.00990537 0.026969324 0.026959315 0
-26 0.044703407 -0.006391204 0.081460774 -0.009035175 0
-25 0.049509462 0.027840776 -0.12625721 0.005646351 0
-24 -0.098056445 0.009206422 -0.045533156 0.051782608 0
-23 0.010576552 0.013268999 -0.038650669 0.047543022 0
-22 0.013705744 -0.022172619 -0.083251067 0.039404982 0
-21 -0.148429481 0.009054938 0.016265867 -0.021320183 0
-20 0.126670082 -0.035970138 -0.037225167 -0.212227943 0
-19 -0.138258752 -0.054443054 0.056368223 -0.084527711 0
-18 -0.037906977 -0.032759762 -0.086864706 0.070416244 0
-17 -0.106026198 0.05610674 -0.105121393 0.042833667 0
-16 -0.02823995 0.007774538 0.033139904 0.041868908 0
-15 0.13599103 -0.010848602 0.047080491 -0.033456463 0
-14 0.028980727 0.00893655 -0.029138011 0.009183644 0
-13 -0.051913776 0.030598277 -0.117139568 0.008602677 0
-12 -0.099070906 0.056098133 0.014826909 0.046548771 0
-11 0.051401306 0.025671377 0.023952586 -0.003091477 0
-10 0.040231832 0.004039238 -0.027043292 -0.033542339 0
-9 -0.064808961 0.005962644 0.039433467 0.042731908 0
-8 0.116031644 -0.059880026 0.098318896 0.030652927 0
-7 0.081578019 -0.02442174 0.015956831 -0.01541278 0
-6 -0.05097713 0.016662773 -0.01953515 0.016380642 0
-5 -0.047270832 0.043991729 -0.067439601 0.076090664 0
-4 0.005855462 -0.010079669 -0.014503009 -0.029986073 0
-3 -0.07858324 0.028679413 -0.002419587 0.022537866 0
-2 0.018038833 -0.009221238 -0.023033239 0.054335353 0
-1 -0.044738001 0.046244456 -0.071006694 0.038606605 0
0 0.030009705 -0.018208354 0.095850556 -0.003719954 1
1 0.216252229 -0.048347137 0.059382301 0.091681842 0
2 -0.026161752 0.04648914 0.008749819 0.015141865 0
3 0.126868949 -0.029639633 -0.013523493 -0.002110454 0
4 -0.027220811 -0.011573396 -0.076544923 -0.022632691 0
5 -0.067086604 -0.022750852 0.034123386 0.020695894 0
6 0.079220345 -0.036551149 0.059482501 0.02257462 0
7 0.015886303 -0.013774105 0.017084546 -0.064846627 0
8 -0.055913104 -0.002234637 -0.060330667 0.014899044 0
9 -0.064504001 -0.000879859 0.021584672 0.023712346 0
10 0.066204865 -0.01425026 0.027443887 -0.020320682 0
11 -0.01044413 0.010070657 0.015562754 0.092503554 0
12 0.059000747 -0.013990512 0.013599884 -0.003640564 0
13 -0.032600821 -0.048030661 0.001816831 -0.001455471 0
14 -0.096249165 -0.006938496 -0.111180865 -0.091408821 0
15 -0.238730176 0.009747261 -0.106270862 -0.046300985 0
16 -0.059253038 -0.027250982 0.039746241 -0.002982468 0
17 0.01504887 -0.007728111 -0.136889344 0.065772428 0
18 -0.136667124 0.000216833 0.011920151 0.027879222 0
19 -0.002715394 -0.011100346 -0.055190509 0.047783069 0
20 -0.140738495 0.017023085 0.111688998 0.069188178 0
21 0.036126575 0.114703618 -0.113038258 0.024439344 0
22 0.011056208 0.010812944 -0.033960075 0.003977997 0
23 -0.06813958 0.000156165 0.030963955 0.041616834 0
24 0.123696874 0.052228902 -0.076784107 -0.045762063 0
25 0.06388901 -0.032423208 -0.018740227 0.046883186 0
26 -0.024935462 -0.003067249 -0.048192354 0.024296825 0
27 -0.037813326 -0.042150604 0.00117255 -0.016921243 0
28 -0.070087409 0.006504457 -0.056586793 0.017296804 0
29 -0.067221902 -0.019706399 0.060904522 -0.040361404 0
30 0.087493996 -0.063237568 -0.014819017 0.114258574 0
31 -0.089511608 0.053518679 0.025006741 -0.016634205 0
32 0.070363781 0.01377206 -0.027350881 0.01148169 0
33 -0.026229224 0.007809322 -0.057611905 -0.018406996 0
34 -0.043226807 0.006538058 -0.009023535 0.029291775 0
35 0.084598956 -0.02638332 0.008761974 0.004117786 0
36 0.109083065 -0.048748044 -0.034780904 -0.015236388 0
37 -0.015853139 -0.031158137 -0.107840606 0.041739955 0
38 -0.066484684 -0.036534904 0.01035092 -0.02394162 0
39 -0.266293893 0.14835119 -0.200938672 0.010899931 0
40 -0.156172239 0.061398407 0.162255181 0.006133989 0
41 0.230036793 0.064422104 -0.082122732 0.033269298 0
42 -0.151451188 0.051635875 -0.030315574 0.011064972 0
43 0.001853166 0.007927335 0.079047457 0.00882387 0
44 0.023563563 0.072295821 -0.004915892 0.013179351 0
45 0.339536451 0.005365792 -0.100421324 0.020624209 0
46 0.030987937 -0.074876582 0.216670609 -0.022028429 0
47 0.180712967 -0.004335299 0.00651574 0.025611807 0
48 -0.173986025 0.0422783 -0.033405817 0.003145356 0
49 0.006610845 0.052874432 0.007329042 -0.001039735 0
50 0.093504051 -0.012355155 0.097826395 0.036157762 0
51 0.050013452 -0.00841084 -0.065565054 -0.009795813 0
52 -0.191783864 0.02753865 -0.052575319 0.017635618 0
53 -0.05143279 0.046681142 -0.110941641 -0.006696882 0
54 0.052736143 0.001392807 0.112585301 0.012180029 0
55 0.14082991 -0.003785278 0.072038966 0.036441237 0
56 0.100925571 -0.00541378 -0.004749387 -0.028012242 0
57 0.007723889 -0.045636813 0.171663246 -0.043190339 0
58 0.206214024 -0.011140212 0.088637461 0.014332842 0
59 0.23366062 -0.002284524 -0.093866869 0.016750734 0
60 -0.007846025 -0.002327498 -0.062339665 -0.027973861 0
TM
t Returns Forex MSCI Local MSCI US Dummy
-60 0.051936875 0.005795702 0.002504396 0.009183644 0
-59 0.01606128 0.00080032 -0.05295389 0.008602677 0
-58 -0.122907929 0.069172331 -0.06509485 0.046548771 0
-57 0.031952453 -0.005235602 0.043888095 -0.003091477 0
-56 0.251086856 0.026691729 -0.06194831 -0.033542339 0
-55 -0.117260262 -0.019223728 0.017359623 0.042731908 0
-54 0.060550798 -0.064401717 0.0639309 0.030652927 0
-53 -0.020292383 -0.027134876 0.092906871 -0.01541278 0
-52 -0.005210027 0.025840853 -0.0067297 0.016380642 0
-51 0.02674316 0.043182727 -0.04041266 0.076090664 0
-50 0.049034032 -0.027980069 0.030525497 -0.029986073 0
-49 -0.055171523 0.046135647 -0.05089332 0.022537866 0
-48 -0.013204765 0.001507727 -0.03378446 0.054335353 0
-47 -0.058699233 0.070756492 -0.08077456 0.038606605 0
-46 0.073074859 0.012302285 -0.04685662 -0.003719954 0
-45 0.011988509 -0.048611111 0.081490046 0.091681842 0
-44 -0.040706844 0.054744526 -0.08075122 0.015141865 0
-43 0.056755833 -0.035294118 0.060875697 -0.002110454 0
-42 -0.048557346 0.022955524 -0.01843488 -0.022632691 0
-41 0.04987596 0.001051893 0.036528369 0.020695894 0
-40 -0.02109776 0.006304729 -0.01727112 0.02257462 0
-39 -0.042877682 0.005221023 -0.03060082 -0.064846627 0
-38 -0.048671446 0.030470914 -0.11495929 0.014899044 0
-37 -0.12391244 0.063508065 -0.21002733 0.023712346 0
-36 -0.068188534 0.003791469 0.01922353 -0.020320682 0
-35 0.119541265 -0.040919106 0.091584995 0.092503554 0
-34 0.088699562 -0.002625533 -0.0486621 -0.003640564 0
-33 0.043823117 -0.037841395 -0.01649159 -0.001455471 0
-32 -0.035320003 -0.017236662 -0.05388148 -0.091408821 0
-31 -0.063432415 -0.039532294 -0.14336851 -0.046300985 0
-30 -0.013520171 -0.058333333 0.240439601 -0.002982468 0
-29 -0.015001576 0.020777222 -0.15760889 0.065772428 0
-28 -0.054348782 0.022992838 0.029339739 0.027879222 0
-27 0.014928177 -0.031319086 0.000604208 0.047783069 0
-26 -0.023315626 0.012171928 0.087303672 0.069188178 0
-25 0.001130992 0.062382563 -0.07781329 0.024439344 0
-24 0.03477306 -0.033604528 0.019918398 0.003977997 0
-23 -0.002638927 0.013543192 -0.0289924 0.041616834 0
-22 -0.017244379 -0.004333694 -0.05131961 -0.045762063 0
-21 0.006219764 -0.002901705 0.003812228 0.046883186 0
-20 -0.002395123 -0.003637686 -0.07061586 0.024296825 0
-19 -0.025733634 -0.029572837 0.093303928 -0.016921243 0
-18 0.043304189 -0.016930023 0.031640336 0.017296804 0
-17 0.004227517 -0.004209721 -0.052278 -0.040361404 0
-16 -0.069263788 -0.039738663 -0.02953746 0.114258574 0
-15 0.044186889 0.004562555 -0.04000201 -0.016634205 0
-14 -0.053441818 0.028286853 -0.0916972 0.01148169 0
-13 -0.044069157 0.031770632 -0.10123655 -0.018406996 0
-12 -0.056264332 0.000751033 -0.07882629 0.029291775 0
-11 0.120186328 -0.041651032 0.075729373 0.004117786 0
-10 0.042127409 -0.014134691 -0.08567868 -0.015236388 0
-9 -0.05737365 0.011358672 -0.03489337 0.041739955 0
-8 0.024301174 -0.030551738 0.187592861 -0.02394162 0
-7 0.029268293 -0.028436019 -0.03133872 0.010899931 0
-6 -0.026582792 0.027308735 -0.05145742 0.006133989 0
-5 -0.016818209 0.009943182 0.00670628 0.033269298 0
-4 -0.003004808 0.003013864 -0.02239037 0.011064972 0
-3 0.05006609 -0.000400641 -0.00963911 0.00882387 0
-2 0.000735726 -0.054749499 0.034660192 0.013179351 0
-1 0.002546854 -0.023914518 0.128227759 0.020624209 0
0 0.154658305 -0.032797567 0.187255091 -0.022028429 1
1 0.187194223 -0.036559623 0.012414288 0.025611807 0
2 -0.063287657 -0.005640763 -0.01740608 0.003145356 0
3 -0.015911208 -0.015002344 0.06195727 -0.001039735 0
4 0.042440158 -0.004283674 0.001257018 0.036157762 0
5 0.017357474 0.01290631 -0.04436583 -0.009795813 0
6 -0.021969907 0.022463426 -0.0155664 0.017635618 0
7 0.117862545 0.005723253 -0.16448578 -0.006696882 0
8 -0.107316246 0.025883433 0.023536683 0.012180029 0
9 0.050913835 -0.026572426 0.140786011 0.036441237 0
10 0.150838109 -0.043198529 0.058108959 -0.028012242 0
11 0.060899367 -0.014121037 -0.02262119 -0.043190339 0
12 -0.018845377 -0.005651369 0.032974142 0.014332842 0
13 -0.045077819 0.026261636 0.010865713 0.016750734 0
14 0.178364547 -0.060441134 0.061358458 -0.027973861 0
15 -0.017473789 0.017784553 -0.05584775 0.033935298 0
16 -0.023236535 0.0001997 -0.01612275 0.039532622 0
17 0.034845579 -0.010881501 -0.01646217 -0.020983791 0
18 -0.033647309 -0.022406136 0.01274326 0.023164866 0
19 0.012917531 0.020958084 -0.03577471 -0.033946091 0
20 -0.015407825 0.006067348 0.000861554 0.014895296 0
21 -0.00180596 0.001809227 -0.0757167 0.027810232 0
22 -0.071301377 -0.030901977 -0.07176475 0.039667194 0
23 0.014683257 -0.103116265 0.075108713 0.027035629 0
24 0.018953641 -0.030012698 0.029516674 0.031632211 0
25 0.004947851 0.006783292 -0.08523486 0.0392877 0
26 -0.031188327 0.002186761 -0.06346172 0.024833319 0
27 -0.027757629 0.040868078 0.059097136 0.034195985 0
28 -0.033279409 0.107875354 -0.04319077 0.000297806 0
29 0.047065353 0.01309195 -0.01757308 0.045085528 0
30 -0.061567848 0.032306916 -0.05865076 -0.00025113 0
31 0.026323324 -0.004694377 0.033567149 0.04418728 0
32 0.04791844 0.014542596 0.040515909 0.015330162 0
33 0.046651299 0.035835351 -0.03434254 0.035895373 0
34 0.077290388 -0.016643291 -0.02596641 0.010626962 0
35 -0.04207493 0.016924979 0.02723124 0.010344457 0
36 0.066281276 -0.020663862 0.046386813 0.015004454 0
37 -0.020969255 0.03007447 -0.06809533 0.026915335 0
38 0.019160616 0.01418111 -0.00061032 0.006109476 0
39 0.116679423 -0.024401389 -0.02501081 -0.043786024 0
40 -0.025357757 0.018360656 -0.05914162 0.022612684 0
41 -0.044634313 0.02704443 0.002965998 0.056234425 0
42 0.079695913 0.018450515 -0.0831244 0.025773226 0
43 -0.04697241 0.00175886 -0.02272332 0.07579166 0
44 0.08826063 0.016153103 -0.06221777 -0.018741934 0
45 0.049330991 0.047343413 -0.14699365 0.068698851 0
46 -0.067456663 -0.00494927 0.016869783 0.007262536 0
47 -0.014872492 0.024952334 -0.01276678 -0.044569013 0
48 -0.019598455 0.026528632 -0.00056667 0.06607601 0
49 0.277675712 -0.082729278 0.078508089 0.056840401 0
50 -0.058571296 -0.015718949 0.048400768 0.045761171 0
51 -0.055203719 0.033598045 -0.07410345 0.079259864 0
52 0.033632739 0.019756839 -0.05898416 -0.05918583 0
53 -0.122216418 -0.000331181 -0.04482532 0.052404246 0
54 0.201934293 -0.003230081 -0.08193419 -0.027077952 0
55 -0.144394361 0.061071874 -0.08918079 0.048612907 0
56 0.089962945 0.018794049 -0.06772875 0.014965707 0
57 0.031297503 -0.025134512 0.079770348 0.013065232 0
58 -0.037392026 -0.005598045 -0.03382861 0.070337659 0
59 -0.077441394 0.056692039 -0.09757384 0.052027387 0
60 0.006945396 -0.004051925 -0.0128244 0.011884066 0
HMC
t Returns Forex MSCI Local MSCI US Dummy
-60 0
-59 0
-58 0
-57 0
-56 0
-55 0
-54 0
-53 0
-52 0
-51 0
-50 0
-49 0
-48 0
-47 0
-46 0
-45 0.082915707 -0.007800812 -0.00319156 0.021710405 0
-44 0.061807444 -0.002261712 0.075407906 -0.005278999 0
-43 0.023681056 0.013385147 0.048096384 -0.010929637 0
-42 -0.012336957 -0.005752024 0.013832255 -0.04125349 0
-41 -0.026897415 -0.038354403 0.166108461 0.018717825 0
-40 0.076482257 0.010918004 -0.03197009 0.010603881 0
-39 -0.002645703 0.020718536 -0.09884467 -0.055808364 0
-38 -0.067897548 0.02537249 -0.01116849 0.021507337 0
-37 0.075659758 0.032957776 -0.07168806 -0.007523372 0
-36 -0.018302656 -0.015310907 0.024579531 0.108856773 0
-35 0.164319254 0.021760285 -0.01006722 0.001747957 0
-34 -0.069257563 -0.003444782 0.042193331 0.005287596 0
-33 -0.029358453 0.006100041 0.00754743 -0.009579382 0
-32 -0.063705824 0.016774454 0.021275776 0.025358386 0
-31 0.003837249 0.012919897 -0.05055483 0.080489834 0
-30 0.152520669 0.018249608 0.022396617 0.01198073 0
-29 0.049687713 -0.033917903 0.051499994 0.002842044 0
-28 -0.031448728 0.003790146 -0.03702928 -0.002075307 0
-27 -0.033505485 -0.002285374 -0.00074949 0.06206921 0
-26 -0.042024999 -0.010257942 0.033990109 0.014801239 0
-25 0.189674588 -0.047796337 0.002830501 -0.002859982 0
-24 -0.030220407 0.00982775 0.025019879 -0.008940368 0
-23 0.05076678 -0.095228129 0.11878506 -0.031498578 0
-22 -0.136479401 -0.02209114 0.004439962 0.045528194 0
-21 0.073549425 -0.043997635 -0.02458875 0.069619264 0
-20 0.009870065 -0.009773599 0.028945224 0.051645661 0
-19 0.064751073 -0.036731634 0.020865794 0.006349593 0
-18 0.025076304 -0.065110246 0.077846495 0.075811286 0
-17 -0.109336499 -0.004162042 0.182486069 0.055865242 0
-16 0.155715197 -0.066870995 0.042011803 -0.013865158 0
-15 0.073621247 0.041504927 -0.03527652 0.049277419 0
-14 0.047720474 -0.061066514 0.091707255 0.013063771 0
-13 0.028494816 -0.059847328 0.156651413 -0.053337376 0
-12 -0.153695601 0.004871712 0.049980594 0.07393467 0
-11 0.188233916 -0.001939237 0.065928552 -0.085007496 0
-10 -0.007032757 0.058290155 -0.16550775 0.056755911 0
-9 0.090657315 -0.009179927 0.051268287 0.023505521 0
-8 -0.037101022 -0.023471279 0.083416813 -0.025194516 0
-7 0.126774966 -0.027988615 0.089374566 0.132805368 0
-6 -0.011437167 -0.003090939 -0.00353734 0.035913075 0
-5 0.042670754 -0.047976501 0.09263931 0.026959315 0
-4 -0.016797672 -0.035653068 0.158999068 -0.009035175 0
-3 -0.015974813 0.02417348 -0.00779461 0.005646351 0
-2 0.079419106 0.019784797 -0.1038428 0.051782608 0
-1 0.118385992 0.020081688 -0.06273657 0.047543022 0
0 0.086322082 -0.051051051 0.101033968 0.039404982 1
1 -0.081034652 0.029535865 -0.02779601 -0.021320183 0
2 0.15257387 -0.055498634 0.031492953 -0.212227943 0
3 -0.209752934 -0.043572591 0.08068047 -0.084527711 0
4 0.058907635 -0.084688091 -0.02637804 0.070416244 0
5 -0.021982325 0.054935977 0.028750692 0.042833667 0
6 0.041261467 0.004698512 0.050920746 0.041868908 0
7 0.161857039 -0.031722525 0.089553167 -0.033456463 0
8 0.085213693 0.005795702 0.002504396 0.009183644 0
9 0.106898558 0.00080032 -0.05295389 0.008602677 0
10 -0.120309689 0.069172331 -0.06509485 0.046548771 0
11 -0.029401089 -0.005235602 0.043888095 -0.003091477 0
12 0.385634078 0.026691729 -0.06194831 -0.033542339 0
13 -0.12544725 -0.019223728 0.017359623 0.042731908 0
14 0.105331594 -0.064401717 0.0639309 0.030652927 0
15 -0.044836473 -0.027134876 0.092906871 -0.01541278 0
16 -0.02024165 0.025840853 -0.0067297 0.016380642 0
17 -0.017187978 0.043182727 -0.04041266 0.076090664 0
18 0.069328759 -0.027980069 0.030525497 -0.029986073 0
19 -0.089404287 0.046135647 -0.05089332 0.022537866 0
20 -0.036278899 0.001507727 -0.03378446 0.054335353 0
21 -0.099778957 0.070756492 -0.08077456 0.038606605 0
22 0.093499332 0.012302285 -0.04685662 -0.003719954 0
23 -0.019993653 -0.048611111 0.081490046 0.091681842 0
24 -0.027341019 0.054744526 -0.08075122 0.015141865 0
25 0.005173688 -0.035294118 0.060875697 -0.002110454 0
26 -0.017348936 0.022955524 -0.01843488 -0.022632691 0
27 -0.032106204 0.001051893 0.036528369 0.020695894 0
28 -0.032835676 0.006304729 -0.01727112 0.02257462 0
29 0.000272062 0.005221023 -0.03060082 -0.064846627 0
30 -0.034872789 0.030470914 -0.11495929 0.014899044 0
31 -0.152710796 0.063508065 -0.21002733 0.023712346 0
32 0.01444644 0.003791469 0.01922353 -0.020320682 0
33 0.098856439 -0.040919106 0.091584995 0.092503554 0
34 0.025419546 -0.002625533 -0.0486621 -0.003640564 0
35 0.027781578 -0.037841395 -0.01649159 -0.001455471 0
36 -0.045342647 -0.017236662 -0.05388148 -0.091408821 0
37 -0.027419943 -0.039532294 -0.14336851 -0.046300985 0
38 -0.155888359 -0.058333333 0.240439601 -0.002982468 0
39 0.090250842 0.020777222 -0.15760889 0.065772428 0
40 -0.072060598 0.022992838 0.029339739 0.027879222 0
41 0.016570896 -0.031319086 0.000604208 0.047783069 0
42 -0.119247587 0.012171928 0.087303672 0.069188178 0
43 0.145906707 0.062382563 -0.07781329 0.024439344 0
44 0.064338005 -0.033604528 0.019918398 0.003977997 0
45 -0.04076883 0.013543192 -0.0289924 0.041616834 0
46 0.018700451 -0.004333694 -0.05131961 -0.045762063 0
47 0.059412129 -0.002901705 0.003812228 0.046883186 0
48 -0.009731045 -0.003637686 -0.07061586 0.024296825 0
49 0.037436703 -0.029572837 0.093303928 -0.016921243 0
50 0.071837508 -0.016930023 0.031640336 0.017296804 0
51 -0.021357897 -0.004209721 -0.052278 -0.040361404 0
52 -0.019874659 -0.039738663 -0.02953746 0.114258574 0
53 0.043848495 0.004562555 -0.04000201 -0.016634205 0
54 -0.033949057 0.028286853 -0.0916972 0.01148169 0
55 -0.050176493 0.031770632 -0.10123655 -0.018406996 0
56 0.03323761 0.000751033 -0.07882629 0.029291775 0
57 0.070920744 -0.041651032 0.075729373 0.004117786 0
58 -0.02467563 -0.014134691 -0.08567868 -0.015236388 0
59 -0.090332613 0.011358672 -0.03489337 0.041739955 0
60 -0.065657099 -0.030551738 0.187592861 -0.02394162 0
VOLVY
t Returns Forex MSCI Local MSCI US Dummy
-60 0.055416405 0.0080006 0.023983664 0.002842044 0
-59 -0.040683669 -0.044307496 0.008422425 -0.002075307 0
-58 -0.03575639 -0.00068931 -0.09204712 0.06206921 0
-57 -0.122978115 -0.01473026 -0.03101411 0.014801239 0
-56 0.082055851 -0.043586761 0.099929179 -0.002859982 0
-55 0.117968577 -0.018760552 -0.01964179 -0.008940368 0
-54 -0.085660665 0.009649862 0.062536386 -0.031498578 0
-53 -0.04208698 -0.051768519 0.046532397 0.045528194 0
-52 0.154010715 -0.018147999 0.105253751 0.069619264 0
-51 0.251420877 -0.016589012 0.037745287 0.051645661 0
-50 0.045127488 -0.011649399 0.00062375 0.006349593 0
-49 0.010299533 -0.025891246 0.059854282 0.075811286 0
-48 0.011910779 -0.018251382 0.068012788 0.055865242 0
-47 0.156302569 -0.002726634 0.116571695 -0.013865158 0
-46 0.116565972 -0.013283807 -0.02775371 0.049277419 0
-45 0.097387315 0.009334285 0.037493116 0.013063771 0
-44 -0.060517631 -0.019327824 0.071113997 -0.053337376 0
-43 -0.013797162 -0.019199774 -0.03443296 0.07393467 0
-42 0.010559368 -0.002710027 0.034561343 -0.085007496 0
-41 -0.050191472 -0.004032724 -0.00120066 0.056755911 0
-40 0.053370613 0.011334446 -0.0362455 0.023505521 0
-39 -0.063568816 -0.008653101 0.017500818 -0.025194516 0
-38 -0.010661103 -0.042108768 -0.19004365 0.132805368 0
-37 -0.192189814 -0.017544655 0.127866328 0.035913075 0
-36 0.190582111 -0.01239752 0.02786918 0.026959315 0
-35 -0.025006286 -0.015792671 0.077130868 -0.009035175 0
-34 0.094530957 -0.009257354 -0.06811735 0.005646351 0
-33 -0.099429709 0.01397585 -0.02826049 0.051782608 0
-32 0.000889807 0.015421451 0.02472782 0.047543022 0
-31 0.137151566 0.007011883 0.004811003 0.039404982 0
-30 0.082733402 -0.016606587 0.039066446 -0.021320183 0
-29 0.073423517 -0.004182593 -0.03766084 -0.212227943 0
-28 -0.197167301 -0.044298322 -0.05865826 -0.084527711 0
-27 -0.100411469 -0.021052458 -0.00468255 0.070416244 0
-26 -0.000946785 0.004556613 0.060230295 0.042833667 0
-25 0.109881771 0.012955059 0.000565098 0.041868908 0
-24 0.046936318 -0.017002925 0.084992242 -0.033456463 0
-23 0.067715929 -0.010220205 0.014101291 0.009183644 0
-22 0.032130023 0.003532489 0.012329717 0.008602677 0
-21 -0.04652521 0.033745135 -0.08877548 0.046548771 0
-20 -0.052782001 0.040174186 0.018043611 -0.003091477 0
-19 -0.023695363 0.021278605 -0.04124679 -0.033542339 0
-18 -0.026213761 -0.006703652 0.022287293 0.042731908 0
-17 0.11985302 -0.027321387 0.060068356 0.030652927 0
-16 -0.00980878 -0.027259387 0.031400704 -0.01541278 0
-15 0.036867271 -0.00149217 0.031793432 0.016380642 0
-14 0.003833161 0.030002956 -0.01556152 0.076090664 0
-13 0.135909577 0.008131248 0.045157268 -0.029986073 0
-12 0.05779028 0.010975629 0.001549547 0.022537866 0
-11 0.05978821 -0.00361361 -0.03811463 0.054335353 0
-10 -0.043614092 0.032263636 -0.0489777 0.038606605 0
-9 -0.071521674 0.016943223 0.050904363 -0.003719954 0
-8 0.046022708 -0.03305266 0.047102266 0.091681842 0
-7 0.067308999 0.012636691 -0.03150613 0.015141865 0
-6 -0.015656575 0.00966855 -0.02129053 -0.002110454 0
-5 0.008565893 -0.023024674 -0.05932875 -0.022632691 0
-4 -0.00218959 -0.004211765 -0.03134008 0.020695894 0
-3 -0.117592808 -0.021661043 0.094501126 0.02257462 0
-2 0.121787857 -0.018119397 0.031274792 -0.064846627 0
-1 -0.070848282 -0.008466071 -0.06516945 0.014899044 0
0 -0.014295489 0.007052716 -0.06386757 0.023712346 1
1 -0.120326595 -0.008446138 0.031437897 -0.020320682 0
2 -0.066853295 -0.009809692 0.058422168 0.092503554 0
3 0.061435231 0.00531669 0.048950516 -0.003640564 0
4 -0.034627573 -0.023420819 0.037070316 -0.001455471 0
5 0.116800896 -0.028540195 -0.07797498 -0.091408821 0
6 -0.099085531 -0.001679276 -0.19128054 -0.046300985 0
7 -0.088992441 -0.021537821 0.04229786 -0.002982468 0
8 -0.105851768 -0.014054303 -0.1312142 0.065772428 0
9 -0.133556841 0.012582912 -0.00111079 0.027879222 0
10 -0.067222292 -0.000355044 0.116190908 0.047783069 0
11 0.169874296 -0.017048179 0.022515164 0.069188178 0
12 0.118229428 0.06699066 -0.06385664 0.024439344 0
13 0.078568805 0.034897306 -0.07077069 0.003977997 0
14 -0.040854782 0.006413613 0.041939039 0.041616834 0
15 0.110138235 0.044983093 -0.00768135 -0.045762063 0
16 0.055396087 0.006238429 0.001640671 0.046883186 0
17 -0.013477074 -0.021212121 -0.03774589 0.024296825 0
18 -0.003736095 -0.026584318 -0.02566953 -0.016921243 0
19 -0.001445325 -0.001509128 -0.04382079 0.017296804 0
20 0.050686116 -0.037281415 -0.03112528 -0.040361404 0
21 0.01308651 -0.035230764 -0.03529808 0.114258574 0
22 -0.100116744 0.005861665 0.003587084 -0.016634205 0
23 0.1681859 0.021883589 -0.04094978 0.01148169 0
24 -0.009463573 0.025721776 0.050611869 -0.018406996 0
25 0.096801741 -0.009492988 -0.03676967 0.029291775 0
26 0.033558006 -0.020860211 0.051881074 0.004117786 0
27 0.051210398 -0.028389062 -0.03105351 -0.015236388 0
28 -0.087021882 -0.047640853 -0.0627457 0.041739955 0
29 -0.070326158 -0.025206199 -0.05090849 -0.02394162 0
30 -0.253890663 0.019104172 -0.12567473 0.010899931 0
31 -0.047547996 0.041643397 -0.10106135 0.006133989 0
32 -0.125184134 0.120775623 0.110456878 0.033269298 0
33 0.239178005 0.09741202 -0.03615 0.011064972 0
34 -0.041769589 0.052831943 -0.05896012 0.00882387 0
35 0.082888625 0.041927737 0.020331344 0.013179351 0
36 -0.006030092 0.024279432 -0.0117731 0.020624209 0
37 -0.038096245 -0.036933104 0.106034358 -0.022028429 0
38 0.037017841 -0.017187437 0.079578727 0.025611807 0
39 0.050930255 0.018034511 -0.07936625 0.003145356 0
40 -0.027201609 0.069236241 0.020109961 -0.001039735 0
41 0.064820955 0.009526559 0.060482126 0.036157762 0
42 0.071873007 -0.004177494 0.014413319 -0.009795813 0
43 -0.093271695 0.00069917 0.073811453 0.017635618 0
44 -0.007794469 0.031278462 -0.12265852 -0.006696882 0
45 -0.003205109 0.009932493 0.088273312 0.012180029 0
46 0.262504681 -0.02767163 0.139254902 0.036441237 0
47 0.26180526 -0.017038525 -0.03583918 -0.028012242 0
48 -0.030742444 -0.009462813 -0.04008924 -0.043190339 0
49 -0.057530534 -0.002758411 0.064037256 0.014332842 0
50 0.199305477 -0.021265527 -0.03337762 0.016750734 0
51 0.00813164 0.009982239 -0.0409657 -0.027973861 0
52 -0.08878763 -0.006456416 0.035078092 0.033935298 0
53 0.173189151 -0.000387577 -0.04017431 0.039532622 0
54 -0.035820793 -0.028485021 0.009410121 -0.020983791 0
55 -0.031886038 -0.034787814 0.071322158 0.023164866 0
56 0.021961298 0.014637172 -0.01248115 -0.033946091 0
57 0.011586912 0.02023989 -0.034335 0.014895296 0
58 -0.02230728 -0.005445564 -0.02198507 0.027810232 0
59 0.015756295 -0.012035128 -0.01862366 0.039667194 0
60 0.057685209 -0.01445819 -0.04293431 0.027035629 0
PEUGY
t Returns Forex MSCI Local MSCI US Dummy
-60 0.019621518 -0.024024551 -0.00342654 -0.040361404 0
-59 1.90218E-05 -0.066570838 0.002147351 0.114258574 0
-58 -0.019917532 0.055822907 0.008660207 -0.016634205 0
-57 0.124704946 0.014585232 0.026187925 0.01148169 0
-56 0.083045281 0.004941599 -0.00496736 -0.018406996 0
-55 -0.033472918 -0.000357622 0.025270273 0.029291775 0
-54 0.142087502 -0.034880601 0.033453602 0.004117786 0
-53 0.058596572 -0.048188305 -0.00953063 -0.015236388 0
-52 -0.082367807 -0.027066498 -0.07686838 0.041739955 0
-51 0.008231777 -0.04032823 0.020202047 -0.02394162 0
-50 -0.160992997 0.005735141 0.018313696 0.010899931 0
-49 -0.172054249 0.094867807 -0.09300556 0.006133989 0
-48 -0.040058423 0.023863636 -0.04594672 0.033269298 0
-47 0.036367527 0.017388087 0.012159498 0.011064972 0
-46 0.088922121 -0.000454545 -0.03767229 0.00882387 0
-45 -0.048497034 0.013642565 0.071847184 0.013179351 0
-44 0.134486489 -0.01345895 0.025665513 0.020624209 0
-43 -0.075008241 -0.02728513 -0.00472737 -0.022028429 0
-42 -0.044236658 0.002524544 -0.04962065 0.025611807 0
-41 -0.099036163 0.071535161 -0.02292183 0.003145356 0
-40 0.048623628 0.039864218 0.007187884 -0.001039735 0
-39 0.219270691 -0.019837616 0.055824207 0.036157762 0
-38 -0.002512796 -0.030742955 -0.00786708 -0.009795813 0
-37 -0.050291594 0.034061674 -0.00951901 0.017635618 0
-36 -0.016028141 0.011621764 -0.03238974 -0.006696882 0
-35 0.108952204 -0.005811505 0.068759355 0.012180029 0
-34 0.083597196 0.000931887 0.007636941 0.036441237 0
-33 0.123623918 -0.020143885 -0.00535966 -0.028012242 0
-32 -0.016262818 -0.015375313 -0.02134102 -0.043190339 0
-31 0.030863004 -0.003158172 0.028144069 0.014332842 0
-30 0.070589495 -0.010384582 -0.0649298 0.016750734 0
-29 -0.087929832 -0.033970654 -0.02522992 -0.027973861 0
-28 -0.045453541 -0.002117279 0.068885521 0.033935298 0
-27 0.129519722 -0.00202952 -0.028694 0.039532622 0
-26 0.019381989 -0.021260862 -0.05930028 -0.020983791 0
-25 -0.067757558 -0.027483944 0.01309952 0.023164866 0
-24 -0.049993249 0.044537244 0.006524385 -0.033946091 0
-23 0.022660192 -0.008181784 -0.05120235 0.014895296 0
-22 -0.056516984 -0.007930556 -0.0494 0.027810232 0
-21 -0.032211865 -0.030237173 -0.01752653 0.039667194 0
-20 0.113438284 -0.066549742 0.106365808 0.027035629 0
-19 -0.067676796 0.027557411 -0.0185393 0.031632211 0
-18 0.02828407 0.008025193 -0.02281306 0.0392877 0
-17 0.060183908 -0.022211025 -0.04061807 0.024833319 0
-16 -0.061772413 -0.01387257 0.015293113 0.034195985 0
-15 -0.050494091 0.054703177 -0.07029662 0.000297806 0
-14 0.016667529 -0.02511049 -0.05678498 0.045085528 0
-13 -0.001740655 -0.007115267 0.009131149 -0.00025113 0
-12 -0.068017875 0.021642097 -0.04223095 0.04418728 0
-11 0.013274414 -0.019299758 0.02521166 0.015330162 0
-10 -0.022260707 0.04375281 0.009198103 0.035895373 0
-9 0.167732965 -0.013724914 -0.00204282 0.010626962 0
-8 0.042034379 -0.000317624 0.01623569 0.010344457 0
-7 -0.038143042 0.026192462 0.001220065 0.015004454 0
-6 -0.055397606 -0.000812741 -0.03630682 0.026915335 0
-5 0.021174445 -0.004454343 0.007327781 0.006109476 0
-4 -0.043935989 -0.028168466 -0.00364681 -0.043786024 0
-3 -0.105705976 0.013231379 -0.04284507 0.022612684 0
-2 -0.085208789 0.020625074 0.009471533 0.056234425 0
-1 -0.008041371 -0.011033255 -0.00323534 0.025773226 0
0 -0.07919783 0.022704142 -0.00637614 0.07579166 1
1 0.196280693 0.000516727 0.016534518 -0.018741934 0
2 -0.13321451 0.056064577 -0.03200509 0.068698851 0
3 -0.038963751 0.031660931 -0.00646075 0.007262536 0
4 0.086046268 -0.009234875 0.055590597 -0.044569013 0
5 -0.040891906 0.034182733 -0.09339785 0.06607601 0
6 -0.049722099 -0.010674937 -0.05439262 0.056840401 0
7 -0.024243233 0.017787246 0.04470574 0.045761171 0
8 -0.051554742 0.056274994 -0.04465296 0.079259864 0
9 0.234100012 -0.021507282 -0.04094898 -0.05918583 0
10 0.004513895 -0.023017271 0.062775847 0.052404246 0
11 0.193925574 -0.027924299 -0.05443241 -0.027077952 0
12 -0.174425613 0.023889602 -0.01936662 0.048612907 0
13 0.020575972 0.014747714 0.0182894 0.014965707 0
14 0.064361491 0.024628323 0.020046565 0.013065232 0
15 0.097522259 -0.009640595 0.028337917 0.070337659 0
16 0.027286308 0.018252076 0.068580409 0.052027387 0
17 0.235409589 -0.028243843 0.017786048 0.011884066 0
18 0.012959603 -0.005168173 0.05941385 -0.019910446 0
19 0.108525077 0.010072663 -0.01329558 0.043141114 0
20 0.125602342 -0.013527816 0.010469858 -0.00974471 0
21 -0.128780138 -0.004274937 -0.02378418 -0.139047781 0
22 -0.073324538 -0.056974493 -0.11789035 0.065888504 0
23 -0.169032057 -0.006927211 0.04279605 0.077551401 0
24 0.148391703 0.021951351 0.00888718 0.068056907 0
25 -0.066286641 -0.01665963 -0.00636259 0.059149084 0
26 -0.04240309 0.032380986 -0.00755601 0.043243237 0
27 0.095591812 0.032699672 -0.05241084 -0.027897523 0
28 -0.204946937 0.017518542 -0.01690115 0.041612552 0
29 0.109431205 0.023087833 -0.00545512 0.036202086 0
30 0.128591656 0.014765144 -0.01337122 -0.023245908 0
31 -0.076508761 0.011071576 -0.01393873 0.053815099 0
32 0.084812838 -0.036652998 0.021618441 -0.032388294 0
33 0.016278811 0.01097557 0.034303223 -0.006288957 0
34 0.163869287 -0.008065687 0.024600748 -0.029666495 0
35 0.021651506 0.01330276 0.002868337 0.065429284 0
36 -0.071301546 0.045274358 0.011437702 0.0214681 0
37 0.06990339 0.002779057 0.058732086 0.069761186 0
38 0.095882168 0.029949013 -0.0354245 -0.053539282 0
39 -0.031454983 0.01098607 0.099534679 -0.023749241 0
40 0.001954522 0.007734612 -0.06565892 0.099845901 0
41 0.001165046 0.051406642 -0.01705783 -0.032326944 0
42 0.015873167 -0.025896884 0.038711463 -0.026423763 0
43 -0.004070727 -0.022382425 0.014320503 0.024013211 0
44 -0.027118526 0.029729809 -0.01057013 -0.017853388 0
45 -0.062239723 0.047156727 -0.06749949 0.052017382 0
46 -0.049794102 0.00316259 -0.03246867 -0.054376931 0
47 -0.028285173 0.04049903 -0.02576207 -0.007101484 0
48 0.059103092 -0.024796064 0.001991028 -0.078959979 0
49 0.170719659 -0.071034986 0.073154035 -0.001540323 0
50 0.019033774 0.007518045 -0.02950006 0.036667317 0
51 0
52 0
53 0
54 0
55 0
56 0
57 0
58 0
59 0
60 0
NSANY
t Returns Forex MSCI Local MSCI US Dummy
-60 0.098570472 0.001507727 -0.05089332 0.015121199 0
-59 0.030913197 0.070756492 -0.03378446 0.04732702 0
-58 -0.095449371 0.012302285 -0.08077456 0.031431605 0
-57 0.058407738 -0.048611111 -0.04685662 -0.010378287 0
-56 -0.01260783 0.054744526 0.081490046 0.085181842 0
-55 -0.064136622 -0.035294118 -0.08075122 0.008566865 0
-54 -0.004065041 0.022955524 0.060875697 -0.008702121 0
-53 0.044060261 0.001051893 -0.01843488 -0.029107691 0
-52 -0.039227191 0.006304729 0.036528369 0.014370894 0
-51 0.006896822 0.005221023 -0.01727112 0.016282953 0
-50 -0.04420591 0.030470914 -0.03060082 -0.071296627 0
-49 -0.088983981 0.063508065 -0.11495929 0.008424044 0
-48 -0.175547771 0.003791469 -0.21002733 0.017212346 0
-47 -0.176675329 -0.040919106 0.01922353 -0.026812349 0
-46 0.136504759 -0.002625533 0.091584995 0.086045221 0
-45 0.08541861 -0.037841395 -0.0486621 -0.010090564 0
-44 -0.031133344 -0.017236662 -0.01649159 -0.007697138 0
-43 -0.03796315 -0.039532294 -0.05388148 -0.097567154 0
-42 -0.114013378 -0.058333333 -0.14336851 -0.052250985 0
-41 -0.138443078 0.020777222 0.240439601 -0.008907468 0
-40 0.058781408 0.022992838 -0.15760889 0.059922428 0
-39 -0.096798103 -0.031319086 0.029339739 0.022512555 0
-38 0.007855202 0.012171928 0.000604208 0.042624736 0
-37 0.002088366 0.062382563 0.087303672 0.064154845 0
-36 0.034082813 -0.033604528 -0.07781329 0.019656011 0
-35 0.022833371 0.013543192 0.019918398 -0.00061367 0
-34 0.013511178 -0.004333694 -0.0289924 0.037008501 0
-33 -0.036227344 -0.002901705 -0.05131961 -0.05037873 0
-32 -0.028760698 -0.003637686 0.003812228 0.042274853 0
-31 0.003650968 -0.029572837 -0.07061586 0.019855158 0
-30 -0.033930587 -0.016930023 0.093303928 -0.021179576 0
-29 0.024592755 -0.004209721 0.031640336 0.013280137 0
-28 0.012897107 -0.039738663 -0.052278 -0.043986404 0
-27 -0.019525114 0.004562555 -0.02953746 0.111025241 0
-26 -0.046773391 0.028286853 -0.04000201 -0.019834205 0
-25 -0.007504941 0.031770632 -0.0916972 0.00820669 0
-24 -0.044316167 0.000751033 -0.10123655 -0.021781996 0
-23 -0.057311763 -0.041651032 -0.07882629 0.026208442 0
-22 0.039983033 -0.014134691 0.075729373 0.001034453 0
-21 0.046565454 0.011358672 -0.08567868 -0.018211388 0
-20 -0.057704842 -0.030551738 -0.03489337 0.039089955 0
-19 0.006954692 -0.028436019 0.187592861 -0.026574953 0
-18 0.065131299 0.027308735 -0.03133872 0.008658264 0
-17 -0.016750295 0.009943182 -0.05145742 0.003667322 0
-16 -0.074205345 0.003013864 0.00670628 0.030544298 0
-15 -0.010113508 -0.000400641 -0.02239037 0.008498305 0
-14 0.005788957 -0.054749499 -0.00963911 0.006407203 0
-13 0.163712687 -0.023914518 0.034660192 0.010721018 0
-12 0.037805635 -0.032797567 0.128227759 0.018215876 0
-11 0.23605233 -0.036559623 0.187255091 -0.024453429 0
-10 0.17012518 -0.005640763 0.012414288 0.023061807 0
-9 -0.094774934 -0.015002344 -0.01740608 0.000620356 0
-8 -0.081330083 -0.004283674 0.06195727 -0.003564735 0
-7 0.055616809 0.01290631 0.001257018 0.033649429 0
-6 0.006454827 0.022463426 -0.04436583 -0.012229146 0
-5 -0.040624432 0.005723253 -0.0155664 0.015110618 0
-4 0.041262812 0.025883433 -0.16448578 -0.009313549 0
-3 -0.069185512 -0.026572426 0.023536683 0.009671696 0
-2 0.078662684 -0.043198529 0.140786011 0.03397457 0
-1 0.133627109 -0.014121037 0.058108959 -0.030812242 0
0 0.063802483 -0.005651369 -0.02262119 -0.046090339 1
1 -0.030567893 0.026261636 0.032974142 0.011107842 0
2 0.001444694 -0.060441134 0.010865713 0.013284067 0
3 0.124291481 0.017784553 0.061358458 -0.031432194 0
4 -0.056774838 0.0001997 -0.05584775 0.030376965 0
5 -0.103188353 -0.010881501 -0.01612275 0.035732622 0
6 0.009696693 -0.022406136 -0.01646217 -0.024875458 0
7 0.077105346 0.020958084 0.01274326 0.018973199 0
8 -0.002500765 0.006067348 -0.03577471 -0.038579424 0
9 -0.009623417 0.001809227 0.000861554 0.010286963 0
10 -0.006633984 -0.030901977 -0.0757167 0.022951899 0
11 -0.102270536 -0.103116265 -0.07176475 0.034867194 0
12 -0.014277796 -0.030012698 0.075108713 0.022285629 0
13 0.029312671 0.006783292 0.029516674 0.026890544 0
14 -0.041313179 0.002186761 -0.08523486 0.034596033 0
15 -0.092149187 0.040868078 -0.06346172 0.020299986 0
16 -0.04791874 0.107875354 0.059097136 0.029679318 0
17 -0.023519949 0.01309195 -0.04319077 -0.004110527 0
18 0.232602327 0.032306916 -0.01757308 0.040718861 0
19 -0.086054356 -0.004694377 -0.05865076 -0.004684463 0
20 0.001849994 0.014542596 0.033567149 0.039753947 0
21 0.053351069 0.035835351 0.040515909 0.011196829 0
22 0.024853661 -0.016643291 -0.03434254 0.031803706 0
23 0.092585223 0.016924979 -0.02596641 0.006551962 0
24 -0.061656098 -0.020663862 0.02723124 0.00617779 0
25 0.061290759 0.03007447 0.046386813 0.010829454 0
26 -0.006218804 0.01418111 -0.06809533 0.022715335 0
27 0.006535458 -0.024401389 -0.00061032 0.001909476 0
28 0.115556345 0.018360656 -0.02501081 -0.048102691 0
29 -0.092622583 0.02704443 -0.05914162 0.018321017 0
30 -0.107471264 0.018450515 0.002965998 0.052142758 0
31 0.092858314 0.00175886 -0.0831244 0.021581559 0
32 -0.061253772 0.016153103 -0.02272332 0.071624993 0
33 -0.115230736 0.047343413 -0.06221777 -0.022966934 0
34 -0.162371592 -0.00494927 -0.14699365 0.064515518 0
35 0.100685686 0.024952334 0.016869783 0.003020869 0
36 -0.046880385 0.026528632 -0.01276678 -0.04891068 0
37 -0.012294275 -0.082729278 -0.00056667 0.061792677 0
38 0.147018187 -0.015718949 0.078508089 0.052823734 0
39 0.058357254 0.033598045 0.048400768 0.041544504 0
40 0.035303438 0.019756839 -0.07410345 0.075001531 0
41 -0.099659233 -0.000331181 -0.05898416 -0.06343583 0
42 -0.067207001 -0.003230081 -0.04482532 0.048295913 0
43 -0.013206018 0.061071874 -0.08193419 -0.031302952 0
44 -0.160963739 0.018794049 -0.08918079 0.044379574 0
45 -0.15013772 -0.025134512 -0.06772875 0.010615707 0
46 -0.001941309 -0.005598045 0.079770348 0.008848565 0
47 -0.003681826 0.056692039 -0.03382861 0.066020992 0
48 -0.02004181 -0.004051925 -0.09757384 0.047844054 0
49 -0.110112655 0.043471709 -0.0128244 0.007825733 0
50 -0.19195012 -0.003971119 -0.04735568 -0.023985446 0
51 -0.034814476 0.048568322 -0.01088093 0.038999447 0
52 0.095056166 -0.014863464 -0.01083451 -0.013886377 0
53 0.046184498 -0.040210526 -0.04495341 -0.143022781 0
54 -0.154981002 -0.147693208 -0.06364389 0.062338504 0
55 -0.032499404 0.056103629 0.125387683 0.074026401 0
56 -0.041099391 -0.083746243 0.008187783 0.064373574 0
57 0.351420941 0.029078014 0.005781803 0.055507417 0
58 -0.148801787 0.024638181 -0.01747445 0.03960157 0
59 0.153656917 -0.004456028 -0.01007203 -0.03168919 0
60 0.142008136 0.008529685 0.114818854 0.037970885 0
VLKAY
t Returns Forex MSCI Local MSCI US Dummy
-60 -0.059948378 -0.023980815 0.035782398 -0.040361404 0
-59 -0.03149394 -0.067260442 -0.00141953 0.114258574 0
-58 -0.034079631 0.058412907 0.012288088 -0.016634205 0
-57 0.100109809 0.019163763 0.013166833 0.01148169 0
-56 0.083967777 0.004273504 -0.01539775 -0.018406996 0
-55 -0.02408417 0.005775076 -0.02710684 0.029291775 0
-54 0.084638058 -0.029616198 0.056243583 0.004117786 0
-53 0.131128198 -0.051385861 0.022204371 -0.015236388 0
-52 -0.04405916 -0.030203546 -0.08469246 0.041739955 0
-51 -0.024933871 -0.048070413 0.009569391 -0.02394162 0
-50 -0.100998073 0.006045519 -0.04975703 0.010899931 0
-49 -0.185272299 0.089996465 -0.07760312 0.006133989 0
-48 -0.092576284 0.032559346 -0.03106026 0.033269298 0
-47 -0.017799786 0.013505025 -0.02716011 0.011064972 0
-46 -0.072192463 -0.004028509 0.023009571 0.00882387 0
-45 0.144907643 0.02271313 0.03914092 0.013179351 0
-44 -0.017464556 -0.020079099 0.011298959 0.020624209 0
-43 0.127678038 -0.013039429 -0.00468936 -0.022028429 0
-42 0.060607242 -0.001572822 -0.02278373 0.025611807 0
-41 -0.090942893 0.072148708 -0.03941103 0.003145356 0
-40 0.126061107 0.024977961 0.029302095 -0.001039735 0
-39 -0.003543105 -0.037270642 0.084914084 0.036157762 0
-38 0.083737568 -0.026503871 0.018363783 -0.009795813 0
-37 -0.023410525 0.025084124 0.044247523 0.017635618 0
-36 0.056618449 0.024470307 -0.02412147 -0.006696882 0
-35 0.000707982 0.012816778 0.046155012 0.012180029 0
-34 0.099309377 0.001438021 -0.05597258 0.036441237 0
-33 0.022613803 -0.022113728 -0.0062152 -0.028012242 0
-32 -0.002302764 -0.02020558 0.056440522 -0.043190339 0
-31 0.141317149 -0.005035669 0.046429656 0.014332842 0
-30 0.083578104 -0.009158282 -0.07286849 0.016750734 0
-29 -0.053973658 -0.03618121 0.015222793 -0.027973861 0
-28 -0.027148635 0.001135647 0.023611425 0.033935298 0
-27 0.083605718 -0.003907235 0.007583173 0.039532622 0
-26 -0.01139899 -0.017904593 -0.0515184 -0.020983791 0
-25 -0.108462041 -0.030986278 0.036535406 0.023164866 0
-24 0.002228981 0.042215131 -0.03708153 -0.033946091 0
-23 -0.04530947 -0.012247241 0.021634467 0.014895296 0
-22 0.012830884 -0.01407814 -0.04131129 0.027810232 0
-21 -0.016752554 -0.045981529 0.055214128 0.039667194 0
-20 0.086402483 -0.058015791 -0.04472365 0.027035629 0
-19 -0.118059627 0.010568513 0.017782496 0.031632211 0
-18 0.057552732 0.019329246 -0.02093533 0.0392877 0
-17 0.063025257 -0.021368429 0.00791913 0.024833319 0
-16 0.00266927 0.001301424 0.033127763 0.034195985 0
-15 0.057148863 0.059210051 -0.05940783 0.000297806 0
-14 0.019452716 -0.026450337 -0.01891018 0.045085528 0
-13 0.057855395 -0.013444437 -0.01718514 -0.00025113 0
-12 -0.07128673 0.026687487 -0.03018611 0.04418728 0
-11 0.067305505 -0.009402005 0.01620368 0.015330162 0
-10 -0.020675575 0.037964966 0.01618173 0.035895373 0
-9 0.152955598 -0.011699052 -0.00264889 0.010626962 0
-8 0.040045952 0.004354038 -0.01520229 0.010344457 0
-7 -0.118418453 0.037119827 -0.05073821 0.015004454 0
-6 0.016874869 -0.004180001 -0.00723438 0.026915335 0
-5 0.022217023 -0.002885814 0.011544896 0.006109476 0
-4 0.084108599 -0.031770045 0.024467135 -0.043786024 0
-3 -0.10893876 0.004959239 0.00408475 0.022612684 0
-2 0.040265162 0.032177381 -0.03294218 0.056234425 0
-1 0.048264478 -0.008906936 -0.01172773 0.025773226 0
0 0.06261319 0.016255865 -0.01180109 0.07579166 1
1 -0.046157497 0.008583133 0.009445818 -0.018741934 0
2 0.034231348 0.054412997 -0.0514465 0.068698851 0
3 0.165086549 0.031305411 0.031721304 0.007262536 0
4 0.066547144 -0.006640185 0.095527476 -0.044569013 0
5 0.054699895 0.033422859 -0.08160725 0.06607601 0
6 0.255813265 -0.012821253 0.002502208 0.056840401 0
7 0.005227883 0.020242204 0.010888164 0.045761171 0
8 0.116241613 0.055737141 0.044033878 0.079259864 0
9 0.078810551 -0.019770789 -0.06807193 -0.05918583 0
10 -0.03785949 -0.020834488 0.039721499 0.052404246 0
11 -0.049129663 -0.025012733 -0.05859881 -0.027077952 0
12 -0.151363819 0.024029253 -0.00033165 0.048612907 0
13 -0.048222981 0.01530352 0.027001063 0.014965707 0
14 -0.040455224 0.021995199 0.016946618 0.013065232 0
15 0.068289791 -0.00906757 0.015462856 0.070337659 0
16 0.100346468 0.018742076 0.030290269 0.052027387 0
17 0.277832193 -0.02900276 0.024598514 0.011884066 0
18 -0.015529601 -0.005461131 0.08733907 -0.019910446 0
19 0.00192584 0.010646047 0.010359542 0.043141114 0
20 0.272977273 -0.013749515 0.024632355 -0.00974471 0
21 -0.126191178 -0.003935016 -0.08436478 -0.139047781 0
22 -0.134436231 -0.057339579 -0.058216 0.065888504 0
23 -0.145979194 -0.00694486 -0.01049844 0.077551401 0
24 0.140331286 0.021944897 0.005189733 0.068056907 0
25 0.038070997 -0.016282225 -0.01632069 0.059149084 0
26 -0.010043117 0.031844078 -0.01485371 0.043243237 0
27 -0.031302781 0.032314309 -0.07048167 -0.027897523 0
28 -0.177952726 0.017903389 -0.05743292 0.041612552 0
29 0.037580502 0.023064159 0.037889324 0.036202086 0
30 0.068607575 0.014813213 -0.05155108 -0.023245908 0
31 -0.07735023 0.011027649 0.017685478 0.053815099 0
32 0.070292106 -0.036621351 -0.00117881 -0.032388294 0
33 -0.124026823 0.010939124 0.01612449 -0.006288957 0
34 0.019316487 -0.008223773 -0.00034626 -0.029666495 0
35 -0.0797754 0.013474442 0.009048 0.065429284 0
36 0.025806524 0.045268597 0.009465782 0.0214681 0
37 -0.17605009 0.002780782 0.123393344 0.069761186 0
38 0.131364262 0.02993889 -0.00741649 -0.053539282 0
39 -0.138407458 0.011019146 0.113608443 -0.023749241 0
40 -0.152439836 0.007742763 -0.08253964 0.099845901 0
41 0.047651626 0.051384947 -0.07220309 -0.032326944 0
42 -0.046099844 -0.025879724 -0.02025314 -0.026423763 0
43 0.092137429 -0.022362385 -0.02295597 0.024013211 0
44 -0.122301973 0.029667644 0.001679958 -0.017853388 0
45 0.108116945 0.047182798 -0.08329826 0.052017382 0
46 0.087262836 0.00317302 -0.02447771 -0.054376931 0
47 0.031729615 0.040260268 0.006091748 -0.007101484 0
48 0.138442673 -0.024367996 -0.0306528 -0.078959979 0
49 0.010522345 -0.071234584 0.080574495 -0.001540323 0
50 -0.009226478 0.007526005 0.010852635 0.036667317 0
51 0
52 0
53 0
54 0
55 0
56 0
57 0
58 0
59 0
60 0
ALA
t Returns Forex MSCI Local MSCI US Dummy
-60 0.027325 0
-59 -0.047871 0
-58 0.102083333 -0.021405493 -0.003922 0.039404982 0
-57 -0.017013233 0.012166735 -0.008648 -0.021320183 0
-56 -0.074038462 -0.042601775 -0.001821 -0.212227943 0
-55 -0.221183801 -0.05132879 -0.060625 -0.084527711 0
-54 -0.105333333 -0.044660334 0.020507 0.070416244 0
-53 -0.022354694 0.062030075 0.043293 0.042833667 0
-52 -0.131097561 0.012123894 -0.021071 0.041868908 0
-51 0.3 -0.017661974 0.05591 -0.033456463 0
-50 -0.08097166 0.013351135 -0.033325 0.009183644 0
-49 0.074889868 0.022310057 0.044745 0.008602677 0
-48 0.144808743 0.058424263 0.099707 0.046548771 0
-47 0.090692124 0.023540872 -0.008611 -0.003091477 0
-46 0.092997812 0.011261797 -0.03933 -0.033542339 0
-45 -0.029029029 -0.000862677 0.044974 0.042731908 0
-44 0.081443299 -0.047488226 0.070055 0.030652927 0
-43 0.197330791 -0.023073754 -0.04847 -0.01541278 0
-42 -0.032643312 0.022353437 -0.015804 0.016380642 0
-41 0.010699588 0.052805281 0.006706 0.076090664 0
-40 0.005700326 -0.028605016 -0.066493 -0.029986073 0
-39 -0.074493927 0.033077854 -0.07609 0.022537866 0
-38 0.141732283 -0.007418977 0.109051 0.054335353 0
-37 -0.026819923 0.055468135 -0.059893 0.038606605 0
-36 0.048818898 -0.011181513 -0.071058 -0.003719954 0
-35 -0.02027027 -0.04673954 0.002289 0.091681842 0
-34 0.049042146 0.045077106 0.04368 0.015141865 0
-33 0.051132213 -0.038970866 -0.093187 -0.002110454 0
-32 0.0257123 -0.016929134 -0.032893 -0.022632691 0
-31 -0.078590786 -0.027232679 0.006032 0.020695894 0
-30 0.134558824 -0.047146974 -0.066228 0.02257462 0
-29 0.06286455 -0.009972002 0.0073 -0.064846627 0
-28 0.013414634 1E-10 0.041972 0.014899044 0
-27 -0.015042118 -0.005935236 0.068812 0.023712346 0
-26 0.078191814 -0.011063307 -0.03048 -0.020320682 0
-25 0.052124646 0.017046968 0.000466 0.092503554 0
-24 0.044157243 -0.024879965 0.005327 -0.003640564 0
-23 -0.003094379 -0.047448523 0.012426 -0.001455471 0
-22 -0.006207967 -0.007236842 0.029911 -0.091408821 0
-21 -0.14627798 -0.008330967 -0.001166 -0.046300985 0
-20 -0.066463415 -0.03150358 0.028836 -0.002982468 0
-19 0.145003266 -0.001971414 0.03718 0.065772428 0
-18 -0.038220194 0.00691358 -0.0057 0.027879222 0
-17 -0.03084223 -0.013732222 -0.073347 0.047783069 0
-16 0.009179927 0.032322228 0.024014 0.069188178 0
-15 0.096422074 0.114547206 0.021959 0.024439344 0
-14 0.033738938 0.003111764 -0.089321 0.003977997 0
-13 -0.062065276 0.015682895 -0.042391 0.041616834 0
-12 0.046776954 0.044370917 0.015799 -0.045762063 0
-11 -0.071389646 -0.03493095 -0.034022 0.046883186 0
-10 0.030516432 0.002104377 0.07555 0.024296825 0
-9 0.022779043 -0.045359093 0.029269 -0.016921243 0
-8 0.025612472 0.003519578 -0.000864 0.017296804 0
-7 0.022801303 -0.024024551 -0.046081 -0.040361404 0
-6 -0.106687898 -0.066570838 -0.019238 0.114258574 0
-5 0.03446227 0.055822907 0.010919 -0.016634205 0
-4 0.005169443 0.014585232 0.059426 0.01148169 0
-3 0.059428571 0.004941599 -0.004125 -0.018406996 0
-2 -0.015102481 -0.000357622 -0.005848 0.029291775 0
-1 0.096933187 -0.034880601 -0.028667 0.004117786 0
0 -0.00898652 -0.048188305 0.072454 -0.015236388 1
1 -0.023173804 -0.027066498 0.011144 0.041739955 0
2 -0.012377514 -0.04032823 -0.001528 -0.02394162 0
3 -0.024020888 0.005735141 -0.017455 0.010899931 0
4 0.027822365 0.094867807 0.031769 0.006133989 0
5 0.015616866 0.023863636 -0.06128 0.033269298 0
6 0.025115325 0.017388087 -0.021406 0.011064972 0
7 0.055 -0.000454545 0.072479 0.00882387 0
8 -0.108530806 0.013642565 -0.025153 0.013179351 0
9 0.061669325 -0.01345895 -0.055483 0.020624209 0
10 0.021532298 -0.02728513 0.016706 -0.022028429 0
11 -0.005882353 0.002524544 0.010464 0.025611807 0
12 -0.061637081 0.071535161 -0.047568 0.003145356 0
13 0.029952706 0.039864218 -0.04581 -0.001039735 0
14 0.076530612 -0.019837616 -0.013989 0.036157762 0
15 0.099526066 -0.030742955 0.109983 -0.009795813 0
16 -0.032758621 0.034061674 -0.014956 0.017635618 0
17 0.054367201 0.011621764 -0.019278 -0.006696882 0
18 0.016906171 -0.005811505 -0.037009 0.012180029 0
19 0.081047382 0.000931887 0.018872 0.036441237 0
20 -0.084582853 -0.020143885 -0.066529 -0.028012242 0
21 -0.09197816 -0.015375313 -0.053273 -0.043190339 0
22 -0.060592044 -0.003158172 0.012894 0.014332842 0
23 0.0403742 -0.010384582 -0.03874 0.016750734 0
24 -0.147184098 -0.033970654 0.028898 -0.027973861 0
25 -0.001664817 -0.002117279 0.012793 0.033935298 0
26 0.115063924 -0.00202952 0.001637 0.039532622 0
27 -0.118644068 -0.021260862 0.019919 -0.020983791 0
28 -0.170248869 -0.027483944 0.00488 0.023164866 0
29 -0.019086571 0.044537244 -0.032699 -0.033946091 0
30 -0.039610841 -0.008181784 0.011047 0.014895296 0
31 0.005788712 -0.007930556 0.000253 0.027810232 0
32 0.009352518 -0.030237173 -0.039201 0.039667194 0
33 -0.084818247 -0.066549742 0.013 0.027035629 0
34 0.066199377 0.027557411 0.000375 0.031632211 0
35 0.015339664 0.008025193 -0.002931 0.0392877 0
36 -0.002877698 -0.022211025 0.020379 0.024833319 0
37 -0.028138528 -0.01387257 -0.028532 0.034195985 0
38 0.156644395 0.054703177 -0.002728 0.000297806 0
39 -0.019255456 -0.02511049 0.059516 0.045085528 0
40 -0.157068063 -0.007115267 -0.08993 -0.00025113 0
41 -0.011645963 0.021642097 -0.050893 0.04418728 0
42 -0.011783189 -0.019299758 0.048263 0.015330162 0
43 0.023052464 0.04375281 -0.041325 0.035895373 0
44 0.114219114 -0.013724914 -0.036974 0.010626962 0
45 -0.024407252 -0.000317624 0.066275 0.010344457 0
46 0.052894925 0.026192462 -0.050576 0.015004454 0
47 0.00610998 -0.000812741 -0.015879 0.026915335 0
48 -0.027665317 -0.004454343 0.021921 0.006109476 0
49 -0.041637752 -0.028168466 0.023788 -0.043786024 0
50 -0.097031137 0.013231379 0.031712 0.022612684 0
51 -0.030473136 0.020625074 0.072127 0.056234425 0
52 0.106699752 -0.011033255 0.021492 0.025773226 0
53 -0.006726457 0.022704142 0.063284 0.07579166 0
54 0.071482318 0.000516727 -0.009776 -0.018741934 0
55 -0.10744382 0.056064577 0.014272 0.068698851 0
56 0.300550747 0.031660931 -0.019425 0.007262536 0
57 0.082879613 -0.009234875 -0.114483 -0.044569013 0
58 0.146368715 0.034182733 0.046179 0.06607601 0
59 -0.035575049 -0.010674937 0.012239 0.056840401 0
60 -0.043456291 0.017787246 -0.002894 0.045761171 0
ERICY
t Returns Forex MSCI Local MSCI US Dummy
-60 0.010525992 0.028775082 -0.019729 0.001747957 0
-59 -0.011635669 0.011772652 0.062264 0.005287596 0
-58 0.010830997 -0.010714943 0.046996 -0.009579382 0
-57 -0.168463855 0.030794467 0.105847 0.025358386 0
-56 -0.120885469 0.023757392 0.038214 0.080489834 0
-55 0.079468102 0.029313519 0.000704 0.01198073 0
-54 -0.007937098 0.0080006 0.060465 0.002842044 0
-53 0.063801027 -0.044307496 0.068551 -0.002075307 0
-52 0.000689786 -0.00068931 0.11649 0.06206921 0
-51 0.037135195 -0.01473026 -0.027263 0.014801239 0
-50 0.056755748 -0.043586761 0.037638 -0.002859982 0
-49 0.01911924 -0.018760552 0.070702 -0.008940368 0
-48 -0.119606784 0.009649862 -0.033763 -0.031498578 0
-47 -0.020733389 -0.051768519 0.03384 0.045528194 0
-46 -0.138206323 -0.018147999 -0.000672 0.069619264 0
-45 0.063090161 -0.016589012 -0.035971 0.051645661 0
-44 0.099768159 -0.011649399 0.017266 0.006349593 0
-43 0.108705774 -0.025891246 -0.188825 0.075811286 0
-42 -0.000272102 -0.018251382 0.128201 0.055865242 0
-41 0.229768223 -0.002726634 0.028086 -0.013865158 0
-40 0.029054375 -0.013283807 0.077087 0.049277419 0
-39 -0.06929354 0.009334285 -0.068068 0.013063771 0
-38 -0.013185079 -0.019327824 -0.027802 -0.053337376 0
-37 -0.116367795 -0.019199774 0.025157 0.07393467 0
-36 0.176264632 -0.002710027 0.005198 -0.085007496 0
-35 0.004049053 -0.004032724 0.038859 0.056755911 0
-34 0.069841156 0.011334446 -0.039536 0.023505521 0
-33 0.008728631 -0.008653101 -0.059332 -0.025194516 0
-32 0.075595011 -0.042108768 -0.004012 0.132805368 0
-31 -0.012079032 -0.017544655 0.060647 0.035913075 0
-30 0.027894863 -0.01239752 0.000959 0.026959315 0
-29 0.32945333 -0.015792671 0.084708 -0.009035175 0
-28 0.009343854 -0.009257354 0.014189 0.005646351 0
-27 -0.002533596 0.01397585 0.012469 0.051782608 0
-26 -0.111447136 0.015421451 -0.088392 0.047543022 0
-25 -0.006963059 0.007011883 0.018093 0.039404982 0
-24 0.016887023 -0.016606587 -0.041541 -0.021320183 0
-23 -0.083667354 -0.004182593 0.022699 -0.212227943 0
-22 -0.025316299 -0.044298322 0.060391 -0.084527711 0
-21 -0.098671886 -0.021052458 0.031229 0.070416244 0
-20 0.028646191 0.004556613 0.032019 0.042833667 0
-19 -0.028712124 0.012955059 -0.014923 0.041868908 0
-18 0.067328026 -0.017002925 0.044828 -0.033456463 0
-17 0.010325736 -0.010220205 0.00178 0.009183644 0
-16 -0.003520054 0.003532489 -0.037606 0.008602677 0
-15 -0.047758517 0.033745135 -0.048599 0.046548771 0
-14 -0.008102638 0.040174186 0.050912 -0.003091477 0
-13 0.054485105 0.021278605 0.047934 -0.033542339 0
-12 0.035513149 -0.006703652 -0.031402 0.042731908 0
-11 0.142320903 -0.027321387 -0.021343 0.030652927 0
-10 0.053723867 -0.027259387 -0.059477 -0.01541278 0
-9 0.021849977 -0.00149217 -0.031144 0.016380642 0
-8 0.063703287 0.030002956 0.094665 0.076090664 0
-7 0.035218743 0.008131248 0.030705 -0.029986073 0
-6 0.092538321 0.010975629 -0.064966 0.022537866 0
-5 0.279070009 -0.00361361 -0.063647 0.054335353 0
-4 0.004713018 0.032263636 0.031259 0.038606605 0
-3 -0.072985844 0.016943223 0.05929 -0.003719954 0
-2 0.293382648 -0.03305266 0.048908 0.091681842 0
-1 -0.042464454 0.012636691 0.037077 0.015141865 0
0 0.3005777 0.00966855 -0.078719 -0.002110454 1
1 -0.074070278 -0.023024674 -0.191609 -0.022632691 0
2 0.057176657 -0.004211765 0.042293 0.020695894 0
3 0.022140632 -0.021661043 -0.13057 0.02257462 0
4 0.06946147 -0.018119397 -0.000849 -0.064846627 0
5 0.056640346 -0.008466071 0.116689 0.014899044 0
6 0.038201381 0.007052716 0.023107 0.023712346 0
7 -0.013438044 -0.008446138 -0.063646 -0.020320682 0
8 0.032382548 -0.009809692 -0.070749 0.092503554 0
9 0.261796499 0.00531669 0.042295 -0.003640564 0
10 0.262989868 -0.023420819 -0.008 -0.001455471 0
11 0.023649288 -0.028540195 0.002093 -0.091408821 0
12 -0.048775767 -0.001679276 -0.037482 -0.046300985 0
13 -0.158697465 -0.021537821 -0.025747 -0.002982468 0
14 0.014254642 -0.014054303 -0.043596 0.065772428 0
15 -0.188021352 0.012582912 -0.03145 0.027879222 0
16 0.043911999 -0.000355044 -0.034202 0.047783069 0
17 0.143273768 -0.017048179 0.003501 0.069188178 0
18 0.006810525 0.06699066 -0.04083 0.024439344 0
19 -0.000323795 0.034897306 0.050461 0.003977997 0
20 -0.221031636 0.006413613 -0.036464 0.041616834 0
21 -0.104215607 0.044983093 0.051964 -0.045762063 0
22 0.039041533 0.006238429 -0.031186 0.046883186 0
23 -0.067298144 -0.021212121 -0.062332 0.024296825 0
24 -0.021686969 -0.026584318 -0.051077 -0.016921243 0
25 -0.04864776 -0.001509128 -0.12557 0.017296804 0
26 0.148256792 -0.037281415 -0.100971 -0.040361404 0
27 -0.284819544 -0.035230764 0.110813 0.114258574 0
28 -0.005827506 0.005861665 -0.036034 -0.016634205 0
29 0.147695366 0.021883589 -0.058806 0.01148169 0
30 -0.197460042 0.025721776 0.020471 -0.018406996 0
31 0.298724962 -0.009492988 -0.011527 0.029291775 0
32 -0.120806403 -0.020860211 0.105896 0.004117786 0
33 0.0624907 -0.028389062 0.079843 -0.015236388 0
34 0.050024041 -0.047640853 -0.079264 0.041739955 0
35 -0.038391998 -0.025206199 0.02019 -0.02394162 0
36 -0.176096344 0.019104172 0.060906 0.010899931 0
37 0.105170577 0.041643397 0.014336 0.006133989 0
38 -0.200274038 0.120775623 0.07398 0.033269298 0
39 0.332885834 0.09741202 -0.122635 0.011064972 0
40 -0.025141624 0.052831943 0.088451 0.00882387 0
41 -0.104334068 0.041927737 0.139634 0.013179351 0
42 0.377562734 0.024279432 -0.036022 0.020624209 0
43 0.155822036 -0.036933104 -0.040423 -0.022028429 0
44 -0.003907765 -0.017187437 0.064199 0.025611807 0
45 0.158111636 0.018034511 -0.033196 0.003145356 0
46 -0.022155704 0.069236241 -0.041214 -0.001039735 0
47 0.085496322 0.009526559 0.035381 0.036157762 0
48 0.012178901 -0.004177494 -0.039721 -0.009795813 0
49 0.174463688 0.00069917 0.009268 0.017635618 0
50 0.043425883 0.031278462 0.071529 -0.006696882 0
51 -0.171774507 0.009932493 -0.01272 0.012180029 0
52 0.046352796 -0.02767163 -0.034157 0.036441237 0
53 -0.057226432 -0.017038525 -0.021789 -0.028012242 0
54 -0.022383444 -0.009462813 -0.018278 -0.043190339 0
55 -0.032722049 -0.002758411 -0.042714 0.014332842 0
56 0.03614518 -0.021265527 0.06116 0.016750734 0
57 0.114110592 0.009982239 -0.020374 -0.027973861 0
58 -0.005948022 -0.006456416 0.019246 0.033935298 0
59 0.099758461 -0.000387577 0.037957 0.039532622 0
60 -0.003505494 -0.028485021 -0.03517 -0.020983791 0
NOK
t Returns Forex MSCI Local MSCI US Dummy
-60 0
-59 0
-58 0
-57 0
-56 0
-55 0
-54 0
-53 0
-52 0
-51 0
-50 -0.087521577 -0.013675308 0.069188178 0
-49 0.249430385 0.06715296 0.016975 0.024439344 0
-48 0.360616235 0.041194887 0.044254 0.003977997 0
-47 -0.128003776 0.01187702 -0.068931 0.041616834 0
-46 0.020014208 0.045737068 -0.082293 -0.045762063 0
-45 -0.01469902 0.014918305 -0.087779 0.046883186 0
-44 0.074965182 -0.011595894 0.018933 0.024296825 0
-43 -0.034482169 -0.025210679 -0.083864 -0.016921243 0
-42 -0.122449909 -0.002905921 -0.07089 0.017296804 0
-41 -0.02064553 0.021080753 -0.045974 -0.040361404 0
-40 -0.010450255 0.010560617 -0.019551 0.114258574 0
-39 -0.150871373 0.009438181 -0.14921 -0.016634205 0
-38 0.291972617 0.032013617 0.107385 0.01148169 0
-37 -0.022353279 0.022864373 -0.040118 -0.018406996 0
-36 -0.05633018 -0.006538113 -0.083636 0.029291775 0
-35 0.155792879 -0.019432154 -0.039528 0.004117786 0
-34 0.089963217 -0.028569485 0.038625 -0.015236388 0
-33 -0.064215975 -0.050113204 -0.049858 0.041739955 0
-32 -0.169542395 -0.021623747 -0.129681 -0.02394162 0
-31 -0.171739515 0.114476592 -0.121807 0.010899931 0
-30 -0.135083317 0.059832334 -0.094063 0.006133989 0
-29 0.271723141 0.072274554 0.152384 0.033269298 0
-28 0.376524723 0.017054018 0.040788 0.011064972 0
-27 -0.008190539 0.056270473 -0.075345 0.00882387 0
-26 0.012574473 0.077361834 -0.033757 0.013179351 0
-25 0.099161742 0.023507239 0.001658 0.020624209 0
-24 0.30287637 -0.061904682 0.057688 -0.022028429 0
-23 0.178539606 -0.022930459 0.258905 0.025611807 0
-22 0.011500013 0.014647332 -0.00505 0.003145356 0
-21 0.110914111 0.038645691 -0.068339 -0.001039735 0
-20 0.232525665 0.009670208 0.066537 0.036157762 0
-19 0.025141753 -0.007105954 0.060211 -0.009795813 0
-18 0.163951219 -0.005203381 0.003906 0.017635618 0
-17 0.275708283 0.009540194 0.106765 -0.006696882 0
-16 -0.109043451 -0.009656597 -0.056554 0.012180029 0
-15 0.011177897 -0.011054333 0.031248 0.036441237 0
-14 0.195714362 -0.018717705 0.182875 -0.028012242 0
-13 -0.047606922 -0.0096717 0.004569 -0.043190339 0
-12 0.262004685 -0.007125676 0.001237 0.014332842 0
-11 0.159907768 -0.013515729 0.049722 0.016750734 0
-10 -0.110048905 0.000904777 -0.087174 -0.027973861 0
-9 0.122305153 -0.041729698 0.008522 0.033935298 0
-8 0.188480213 -0.010973356 0.071797 0.039532622 0
-7 0.121379527 -0.035037178 0.041523 -0.020983791 0
-6 0.090382042 -0.057590673 0.030741 0.023164866 0
-5 0.194578597 0.011280207 0.087816 -0.033946091 0
-4 -0.019857693 0.025928121 -0.072534 0.014895296 0
-3 0.05738542 -0.022920922 0.001394 0.027810232 0
-2 0.004466491 -0.020418074 -0.051342 0.039667194 0
-1 0.02449802 -0.055741168 -0.047205 0.027035629 0
0 -0.037767756 -0.024973178 -0.068579 0.031632211 1
1 0.084811187 0.010137429 0.08311 0.0392877 0
2 0.180307256 -0.004612247 -0.013279 0.024833319 0
3 0.260838335 -0.011362843 0.1082 0.034195985 0
4 0.078750845 0.01347182 0.060759 0.000297806 0
5 0.066422108 0.014524413 -0.028019 0.045085528 0
6 0.028863256 -0.021921385 -0.015324 -0.00025113 0
7 -0.207729595 -0.006861987 -0.154265 0.04418728 0
8 -0.032709498 0.021459227 -0.076744 0.015330162 0
9 -0.292853365 0.026387478 -0.183086 0.035895373 0
10 -0.018033377 0.024022133 -0.060928 0.010626962 0
11 -0.07551738 0.009972104 -0.042375 0.010344457 0
12 -0.043484069 0.026902416 -0.018039 0.015004454 0
13 0.087175701 0.008471346 -0.026751 0.026915335 0
14 0.172104876 -0.020265446 0.065985 0.006109476 0
15 -0.103279313 -0.018219621 -0.061555 -0.043786024 0
16 -0.059846252 -0.023055258 0.050016 0.022612684 0
17 0.166924407 0.0141462 0.076779 0.056234425 0
18 0.053246042 0.006412517 -0.060743 0.025773226 0
19 0.04117825 -0.003306256 -0.014016 0.07579166 0
20 0.209733633 0.018255712 -0.008887 -0.018741934 0
21 0.003527348 0.02957865 0.046671 0.068698851 0
22 0.164201765 0.043019991 -0.017952 0.007262536 0
23 -0.097974162 0.017317931 -0.032453 -0.044569013 0
24 -0.035596293 0.013646148 0.044387 0.06607601 0
25 0.117118686 0.000818267 -0.080811 0.056840401 0
26 0.057046635 0.007066381 -0.033806 0.045761171 0
27 0.089212596 0.0268494 0.008404 0.079259864 0
28 0.18182348 0.035804375 0.012009 -0.05918583 0
29 -0.067415613 -0.029114568 -0.031617 0.052404246 0
30 0.191103341 -0.014918947 0.118496 -0.027077952 0
31 -0.061134754 -0.007505938 -0.054687 0.048612907 0
32 -0.081400136 0.028872296 -0.110155 0.014965707 0
33 -0.144721321 0.02337266 -0.084833 0.013065232 0
34 0.123238193 -0.000345492 0.057328 0.070337659 0
35 0.280407874 0.008294679 0.102014 0.052027387 0
36 0.098270974 -0.00768523 -0.023859 0.011884066 0
37 0.220474671 -0.020089083 0.160218 -0.019910446 0
38 -0.06567604 0.010445269 -0.003839 0.043141114 0
39 0.166444498 0.002552191 0.003028 -0.00974471 0
40 0.175466899 -0.004981503 0.114158 -0.139047781 0
41 -0.18820629 -0.048518314 -0.054 0.065888504 0
42 0.082128257 -0.036135722 -0.027655 0.077551401 0
43 0.201861803 0.026532333 0.026799 0.068056907 0
44 0.060149112 -0.007996403 -0.014943 0.059149084 0
45 0.24198269 0.010721536 0.106653 0.043243237 0
46 0.14880867 0.034806856 0.046074 -0.027897523 0
47 -0.037142892 0.029188965 -0.036551 0.041612552 0
48 0.193249332 0.017668491 0.077917 0.036202086 0
49 -0.058178367 0.007088626 -0.056691 -0.023245908 0
50 -0.019739885 0.0235994 -0.038571 0.053815099 0
51 0.245682177 0.000977364 0.090453 -0.032388294 0
52 -0.067819513 -0.02230049 0.041452 -0.006288957 0
53 -0.031583137 0.010075971 -0.038364 -0.029666495 0
54 0.091132337 -0.019385935 0.080819 0.065429284 0
55 0.226981365 0.037107722 0.116934 0.0214681 0
56 0.281788158 0.020745807 0.176177 0.069761186 0
57 0.352399496 -0.001258568 0.218359 -0.053539282 0
58 -0.055230498 0.029460348 0.04861 -0.023749241 0
59 0.090080612 0.019734339 0.101154 0.099845901 0
60 0.029107926 0.020585277 -0.091888 -0.032326944 0
NTT
t Returns Forex MSCI Local MSCI US Dummy
-60 -0.01489577 -0.037841395 0.087479 -0.001455471 0
-59 -0.029136803 -0.017236662 -0.073852 -0.091408821 0
-58 -0.107005609 -0.039532294 0.067965 -0.046300985 0
-57 -0.083296935 -0.058333333 -0.011084 -0.002982468 0
-56 0.323157828 0.020777222 0.043391 0.065772428 0
-55 -0.143726601 0.022992838 -0.01041 0.027879222 0
-54 0.110521468 -0.031319086 -0.022744 0.047783069 0
-53 -0.067473095 0.012171928 -0.108047 0.069188178 0
-52 0.017600585 0.062382563 -0.203184 0.024439344 0
-51 0.055468487 -0.033604528 0.026504 0.003977997 0
-50 -0.04334825 0.013543192 0.097658 0.041616834 0
-49 -0.082982476 -0.004333694 -0.041497 -0.045762063 0
-48 -0.005974972 -0.002901705 -0.009362 0.046883186 0
-47 -0.046811982 -0.003637686 -0.045784 0.024296825 0
-46 -0.037415995 -0.029572837 -0.135757 -0.016921243 0
-45 -0.007119965 -0.016930023 0.247571 0.017296804 0
-44 0.024959925 -0.004209721 -0.151288 -0.040361404 0
-43 -0.01259496 -0.039738663 0.036123 0.114258574 0
-42 -0.025778242 0.004562555 0.00713 -0.016634205 0
-41 -0.055332059 0.028286853 0.093546 0.01148169 0
-40 -0.034870357 0.031770632 -0.071102 -0.018406996 0
-39 -0.134452874 0.000751033 0.026896 0.029291775 0
-38 0.070608156 -0.041651032 -0.022419 0.004117786 0
-37 0.015944816 -0.014134691 -0.043759 -0.015236388 0
-36 -0.061295279 0.011358672 0.010288 0.041739955 0
-35 0.000569121 -0.030551738 -0.063907 -0.02394162 0
-34 0.04164771 -0.028436019 0.100553 0.010899931 0
-33 -0.107563041 0.027308735 0.038471 0.006133989 0
-32 0.012158008 0.009943182 -0.044731 0.033269298 0
-31 -0.039127785 0.003013864 -0.023818 0.011064972 0
-30 0.073738513 -0.000400641 -0.032785 0.00882387 0
-29 0.09312285 -0.054749499 -0.084741 0.013179351 0
-28 0.095694525 -0.023914518 -0.093931 0.020624209 0
-27 0.600839674 -0.032797567 -0.072127 -0.022028429 0
-26 0.045383627 -0.036559623 0.082753 0.025611807 0
-25 -0.013745696 -0.005640763 -0.078428 0.003145356 0
-24 -0.071037518 -0.015002344 -0.028326 -0.001039735 0
-23 0.025912217 -0.004283674 0.194899 0.036157762 0
-22 0.061685607 0.01290631 -0.024405 -0.009795813 0
-21 -0.112714929 0.022463426 -0.04447 0.017635618 0
-20 -0.05766597 0.005723253 0.013406 -0.006696882 0
-19 -0.147953202 0.025883433 -0.015499 0.012180029 0
-18 0.048435694 -0.026572426 -0.002693 0.036441237 0
-17 0.418817637 -0.043198529 0.041541 -0.028012242 0
-16 -0.016809363 -0.014121037 0.134989 -0.043190339 0
-15 -0.070333428 -0.005651369 0.194592 0.014332842 0
-14 -0.056813821 0.026261636 0.019106 0.016750734 0
-13 0.083768968 -0.060441134 -0.010436 -0.027973861 0
-12 -0.029590074 0.017784553 0.068977 0.033935298 0
-11 -0.050132932 0.0001997 0.007873 0.039532622 0
-10 0.111255757 -0.010881501 -0.03719 -0.020983791 0
-9 -0.03156189 -0.022406136 -0.008678 0.023164866 0
-8 0.034574452 0.020958084 -0.157419 -0.033946091 0
-7 -0.097864856 0.006067348 0.030468 0.014895296 0
-6 0.053184401 0.001809227 0.147362 0.027810232 0
-5 -0.101637214 -0.030901977 0.065512 0.039667194 0
-4 0.019028925 -0.103116265 -0.015125 0.027035629 0
-3 0.06770806 -0.030012698 0.03983 0.031632211 0
-2 0.016520643 0.006783292 0.017671 0.0392877 0
-1 -0.047842544 0.002186761 0.068728 0.024833319 0
0 -0.033843233 0.040868078 -0.049241 0.034195985 1
1 -0.05559474 0.107875354 -0.009534 0.000297806 0
2 0.190843845 0.01309195 -0.009197 0.045085528 0
3 -0.069010661 0.032306916 0.019567 -0.00025113 0
4 -0.024903663 -0.004694377 -0.028277 0.04418728 0
5 0.014409457 0.014542596 0.007752 0.015330162 0
6 -0.048273118 0.035835351 -0.069041 0.035895373 0
7 -0.006214632 -0.016643291 -0.065212 0.010626962 0
8 -0.064847051 0.016924979 0.081828 0.010344457 0
9 0.050048574 -0.020663862 0.036204 0.015004454 0
10 -0.014597853 0.03007447 -0.078654 0.026915335 0
11 -0.037111617 0.01418111 -0.056718 0.006109476 0
12 0.053520253 -0.024401389 0.065728 -0.043786024 0
13 -0.079629238 0.018360656 -0.036159 0.022612684 0
14 -0.02377673 0.02704443 -0.011069 0.056234425 0
15 0.039717206 0.018450515 -0.051543 0.025773226 0
16 -0.028902092 0.00175886 0.040105 0.07579166 0
17 0.014114457 0.016153103 0.047378 -0.018741934 0
18 0.033676294 0.047343413 -0.027679 0.068698851 0
19 0.008407739 -0.00494927 -0.019098 0.007262536 0
20 -0.033204397 0.024952334 0.034113 -0.044569013 0
21 -0.045928761 0.026528632 0.053289 0.06607601 0
22 0.235549447 -0.082729278 -0.061383 0.056840401 0
23 0.111380989 -0.015718949 0.006379 0.045761171 0
24 -0.005124002 0.033598045 -0.017471 0.079259864 0
25 0.097581318 0.019756839 -0.052364 -0.05918583 0
26 -0.106261388 -0.000331181 0.009423 0.052404246 0
27 0.01244459 -0.003230081 -0.076403 -0.027077952 0
28 -0.126098099 0.061071874 -0.016554 0.048612907 0
29 0.029667978 0.018794049 -0.054899 0.014965707 0
30 0.073716307 -0.025134512 -0.140712 0.013065232 0
31 0.059502571 -0.005598045 0.023899 0.070337659 0
32 -0.053650484 0.056692039 -0.005249 0.052027387 0
33 -0.055494971 -0.004051925 0.005711 0.011884066 0
34 -0.007125898 0.043471709 0.084954 -0.019910446 0
35 -0.030934333 -0.003971119 0.054909 0.043141114 0
36 0.00523164 0.048568322 -0.067945 -0.00974471 0
37 0.049791573 -0.014863464 -0.051308 -0.139047781 0
38 -0.087265404 -0.040210526 -0.038374 0.065888504 0
39 0.083629644 -0.147693208 -0.074524 0.077551401 0
40 -0.09277792 0.056103629 -0.082719 0.068056907 0
41 0.083255928 -0.083746243 -0.060806 0.059149084 0
42 -0.089838409 0.029078014 0.086743 0.043243237 0
43 0.052060788 0.024638181 -0.027602 -0.027897523 0
44 0.048288223 -0.004456028 -0.091111 0.041612552 0
45 0.192681037 0.008529685 -0.00593 0.036202086 0
46 0.087938533 0.012644448 -0.040072 -0.023245908 0
47 -0.046626867 0.000496155 -0.004273 0.053815099 0
48 0.267507804 -0.051987768 -0.003694 -0.032388294 0
49 -0.00893343 -0.04516129 -0.036358 -0.006288957 0
50 -0.072355898 -0.029035793 -0.057352 -0.029666495 0
51 0.051519833 -0.019042693 0.131582 0.065429284 0
52 0.290152417 -0.023726214 0.014441 0.0214681 0
53 0.065819956 0.006480754 0.012131 0.069761186 0
54 -0.056188052 0.047560976 -0.010889 -0.053539282 0
55 -0.111818489 0.022956927 -0.002714 -0.023749241 0
56 0.010016487 -0.065959578 0.121354 0.099845901 0
57 0.011878564 0.054144939 0.027252 -0.032326944 0
58 -0.140092511 -0.004253352 -0.039591 -0.026423763 0
59 -0.038596376 -0.013000279 0.070783 0.024013211 0
60 0.111234993 0.031423464 0.121358 -0.017853388 0
TI
t Returns Forex MSCI Local MSCI US Dummy
-60 0.120715581 -0.048030661 0.022112 -0.003640564 0
-59 -0.049129946 -0.006938496 -0.002603 -0.001455471 0
-58 -0.11437017 0.009747261 -0.065874 -0.091408821 0
-57 -0.083173223 -0.027250982 -0.030919 -0.046300985 0
-56 -0.113394877 -0.007728111 -0.038231 -0.002982468 0
-55 -0.078470846 0.000216833 -0.089648 0.065772428 0
-54 0.056082834 -0.011100346 0.010502 0.027879222 0
-53 0.056051865 0.017023085 -0.061293 0.047783069 0
-52 -0.001533383 0.114703618 0.066482 0.069188178 0
-51 0.042534242 0.010812944 -0.071846 0.024439344 0
-50 -0.023273917 0.000156165 -0.03395 0.003977997 0
-49 0.023468444 0.052228902 0.034522 0.041616834 0
-48 -0.075330607 -0.032423208 -0.038223 -0.045762063 0
-47 -0.003083457 -0.003067249 -0.0342 0.046883186 0
-46 -0.026956806 -0.042150604 -0.029702 0.024296825 0
-45 0.030863851 0.006504457 -0.023758 -0.016921243 0
-44 0.009238836 -0.019706399 -0.057751 0.017296804 0
-43 0.073251976 -0.063237568 0.086535 -0.040361404 0
-42 -0.016246613 0.053518679 -0.022216 0.114258574 0
-41 0.125002269 0.01377206 0.039532 -0.016634205 0
-40 0.003935308 0.007809322 -0.001621 0.01148169 0
-39 -0.099886783 0.006538058 -0.019105 -0.018406996 0
-38 -0.037856569 -0.02638332 -0.002437 0.029291775 0
-37 0.039048191 -0.048748044 -0.018086 0.004117786 0
-36 -0.1506985 -0.031158137 -0.00644 -0.015236388 0
-35 -0.001119485 -0.036534904 -0.08569 0.041739955 0
-34 -0.14796391 0.14835119 -0.015085 -0.02394162 0
-33 -0.168153914 0.061398407 -0.181895 0.010899931 0
-32 0.037674976 0.064422104 0.19468 0.006133989 0
-31 -0.022238959 0.051635875 -0.077051 0.033269298 0
-30 0.144771169 0.007927335 -0.026343 0.011064972 0
-29 0.131306506 0.072295821 0.086244 0.00882387 0
-28 0.100083442 0.005365792 -0.013452 0.013179351 0
-27 -0.056218396 -0.074876582 -0.135468 0.020624209 0
-26 0.260546146 -0.004335299 0.173073 -0.022028429 0
-25 0.170745773 0.0422783 0.003855 0.025611807 0
-24 0.082762803 0.052874432 -0.018542 0.003145356 0
-23 0.118004033 -0.012355155 -0.004778 -0.001039735 0
-22 0.073339761 -0.00841084 0.080093 0.036157762 0
-21 -0.022462413 0.02753865 -0.047574 -0.009795813 0
-20 -0.082287595 0.046681142 -0.062545 0.017635618 0
-19 -0.13365019 0.001392807 -0.058664 -0.006696882 0
-18 0.235445736 -0.003785278 0.081706 0.012180029 0
-17 0.066833293 -0.00541378 0.036985 0.036441237 0
-16 -0.010102911 -0.045636813 0.000319 -0.028012242 0
-15 0.320708172 -0.011140212 0.196095 -0.043190339 0
-14 0.062655351 -0.002284524 0.073815 0.014332842 0
-13 -0.123002087 -0.002327498 -0.083096 0.016750734 0
-12 -0.088531167 0.005485533 -0.066516 -0.027973861 0
-11 0.069193105 -0.004113652 0.033776 0.033935298 0
-10 -0.014893902 -0.019885022 -0.049272 0.039532622 0
-9 -0.062529475 -0.006803508 0.02 -0.020983791 0
-8 -0.058770213 0.046618282 -0.080652 0.023164866 0
-7 0.016464081 0.007237196 -0.034872 -0.033946091 0
-6 0.012890959 -0.020236357 0.007503 0.014895296 0
-5 0.028848494 0.04733335 0.077472 0.027810232 0
-4 -0.087761366 0.022818326 -0.105971 0.039667194 0
-3 -0.074788647 -0.017071032 -0.10228 0.027035629 0
-2 0.150922021 -0.038589187 0.069034 0.031632211 0
-1 -0.051110983 0.01441457 -0.007257 0.0392877 0
0 0.019052763 -0.033688679 -0.032516 0.024833319 1
1 0.077325793 0.022486873 0.031886 0.034195985 0
2 0.013388532 -0.005209523 -0.007534 0.000297806 0
3 -0.02962746 -0.010479813 -0.038072 0.045085528 0
4 -0.065659985 0.000432662 -0.037068 -0.00025113 0
5 -0.052578704 -0.006737826 -0.088939 0.04418728 0
6 0.046674969 0.009522187 0.067468 0.015330162 0
7 0.18435345 -0.027884561 0.026689 0.035895373 0
8 -0.078556718 0.008789866 -0.01801 0.010626962 0
9 -0.095318448 -0.003900897 -0.056911 0.010344457 0
10 0.230379039 -0.00893937 0.113195 0.015004454 0
11 0.037025435 -0.009252444 -0.009429 0.026915335 0
12 -0.044599051 -0.010029652 -0.00357 0.006109476 0
13 -0.073262769 -0.003363922 -0.046466 -0.043786024 0
14 -0.009002545 0.008177285 -0.020817 0.022612684 0
15 0.105269063 -0.007331311 0.027187 0.056234425 0
16 0.009729683 -0.001108808 -0.064403 0.025773226 0
17 0.205879461 0.011305221 0.027426 0.07579166 0
18 0.025405754 0.053241603 0.013019 -0.018741934 0
19 0.181565491 0.046425071 0.092563 0.068698851 0
20 -0.048390773 -0.005809473 -0.119017 0.007262536 0
21 -0.047017943 0.019712599 0.039013 -0.044569013 0
22 0.133270699 -0.011460916 -0.017292 0.06607601 0
23 0.045487587 0.006796564 -0.067688 0.056840401 0
24 0.105620202 0.050251168 0.0485 0.045761171 0
25 0.169699091 -0.015730764 0.01468 0.079259864 0
26 -0.042111647 -0.018789856 0.028637 -0.05918583 0
27 0.060306349 -0.019891103 0.094612 0.052404246 0
28 -0.058431438 0.020856234 -0.018058 -0.027077952 0
29 0.002615967 0.01843286 0.006309 0.048612907 0
30 0.011701154 0.022885533 0.059663 0.014965707 0
31 0.103151442 -0.00726333 0.063768 0.013065232 0
32 -0.000737815 0.018506701 -0.019742 0.070337659 0
33 0.178629759 -0.025612276 0.156587 0.052027387 0
34 -0.076190729 -0.008404594 -0.032217 0.011884066 0
35 -0.021520827 0.011553295 0.059499 -0.019910446 0
36 0.049738397 -0.013181499 -0.073478 0.043141114 0
37 0.092201989 -0.003635721 0.098351 -0.00974471 0
38 -0.05074254 -0.05306475 -0.029284 -0.139047781 0
39 -0.167899037 -0.012889198 -0.064298 0.065888504 0
40 0.074717377 0.030147279 -0.016511 0.077551401 0
41 0.095482266 -0.018104278 0.048445 0.068056907 0
42 0.052539871 0.030522924 0.036446 0.059149084 0
43 0.130286421 0.032699672 -0.074551 0.043243237 0
44 0.133088316 0.017518542 0.00526 -0.027897523 0
45 -0.060463572 0.023087833 -0.000526 0.041612552 0
46 0.056573362 0.014765144 -0.06742 0.036202086 0
47 -0.046174318 0.011071576 -0.025159 -0.023245908 0
48 0.092363369 -0.036652998 -0.066487 0.053815099 0
49 -0.103454178 0.01097557 -0.032696 -0.032388294 0
50 0.054750058 -0.008065687 0.020538 -0.006288957 0
51 -0.160341052 0.01330276 0.025598 -0.029666495 0
52 -0.050228898 0.045274358 -0.079107 0.065429284 0
53 0.323977016 0.002779057 -0.003805 0.0214681 0
54 0.209636135 0.029949013 0.07173 0.069761186 0
55 0.255696732 0.01098607 -0.004937 -0.053539282 0
56 0.064875561 0.007734612 0.116744 -0.023749241 0
57 -0.246834267 0.051406642 -0.126109 0.099845901 0
58 0.077705181 -0.025896884 -0.031852 -0.032326944 0
59 0.004969442 -0.022382425 0.062627 -0.026423763 0
60 -0.080967142 0.029729809 0.035474 0.024013211 0
ABN
t Returns Forex MSCI Local MSCI US Dummy
-60 0.038430475 -0.002357996 0.025407621 -0.040361404 0
-59 0.124254943 -0.040443301 -0.00083212 0.114258574 0
-58 -0.041733677 -0.035634134 0.004072297 -0.016634205 0
-57 0.090709374 0.009195141 -0.00853122 0.01148169 0
-56 0.007081266 0.024634421 -0.00820194 -0.018406996 0
-55 -0.051012902 0.026786694 0.022957458 0.029291775 0
-54 0.059033558 -0.007377312 0.035737125 0.004117786 0
-53 0.002140982 -0.016156829 0.014066605 -0.015236388 0
-52 0.002575879 -0.030052551 -0.02824024 0.041739955 0
-51 0.115682553 -0.050792934 0.037252667 -0.02394162 0
-50 -0.062010343 -0.029549914 0.01083377 0.010899931 0
-49 0.03582479 0.001592942 -0.10428265 0.006133989 0
-48 0.010933397 0.022571568 -0.04209875 0.033269298 0
-47 -0.031686736 0.068493151 0.000293282 0.011064972 0
-46 0.036406337 -0.004142873 0.012531134 0.00882387 0
-45 0.006767281 0.020631887 0.019281791 0.013179351 0
-44 0.075458035 0.017515836 0.046780697 0.020624209 0
-43 0.013561817 0.001840524 0.004935651 -0.022028429 0
-42 -0.0431383 -0.030528989 0.000262348 0.025611807 0
-41 -0.088357127 0.004681752 -0.01421036 0.003145356 0
-40 0.069074846 0.029568401 -0.00266842 -0.001039735 0
-39 0.110506947 0.039872838 0.074331295 0.036157762 0
-38 0.143536905 -0.012280429 0.005752269 -0.009795813 0
-37 -0.075252544 -0.044486413 0.043595601 0.017635618 0
-36 0.107629949 0.012298232 -0.03116299 -0.006696882 0
-35 -0.025938526 0.035036338 0.041190292 0.012180029 0
-34 0.036870512 0.004087193 0.018861296 0.036441237 0
-33 -0.006300434 0.018474063 -0.00633641 -0.028012242 0
-32 -0.043534795 -0.00266448 -0.01071361 -0.043190339 0
-31 -0.030200129 -0.023530621 0.042590387 0.014332842 0
-30 -0.036258433 0.003577818 -0.04601808 0.016750734 0
-29 0.009417963 -0.025007864 0.003808984 -0.027973861 0
-28 -0.008736326 -0.0190891 0.035687407 0.033935298 0
-27 0.012973159 -0.036015788 0.006732386 0.039532622 0
-26 0.006562301 -0.000853 -0.01933504 -0.020983791 0
-25 -0.002737136 -0.011269209 0.04838012 0.023164866 0
-24 -0.000103666 -0.01980198 -0.03434438 -0.033946091 0
-23 0.046800397 0.013683345 0.013119319 0.014895296 0
-22 0.005235766 0.019697584 -0.00980035 0.027810232 0
-21 -0.001686653 -0.02511221 -0.00063739 0.039667194 0
-20 0.093548765 -0.018357713 0.029540398 0.027035629 0
-19 -0.067860918 -0.063524104 0.00980656 0.031632211 0
-18 0.042696399 -0.019018638 -0.01609295 0.0392877 0
-17 0.014922229 0.019710482 -0.00929387 0.024833319 0
-16 0.00625194 -0.00589391 0.031221144 0.034195985 0
-15 -0.051192705 -0.008223894 -0.06456379 0.000297806 0
-14 0.08132449 0.041010478 0.016059841 0.045085528 0
-13 0.052546784 0.009817845 -0.01891867 -0.00025113 0
-12 -0.023279691 -0.031062737 -8.9439E-05 0.04418728 0
-11 0.102132241 0.00195633 0.029431538 0.015330162 0
-10 -0.02844219 0.015746048 -0.0207388 0.035895373 0
-9 0.015706796 0.016184039 0.010908985 0.010626962 0
-8 0.067775952 0.002196729 0.018645231 0.010344457 0
-7 0.017190679 0.007062835 -0.00937139 0.015004454 0
-6 0.089429769 0.016868198 0.025145939 0.026915335 0
-5 0.057358372 0.018788275 -0.00600316 0.006109476 0
-4 0.002749807 -0.000875401 0.006739075 -0.043786024 0
-3 -0.033352606 -0.015070093 -0.00164801 0.022612684 0
-2 -0.017001296 -0.013580833 -0.01387607 0.056234425 0
-1 0.048595525 0.016353033 0.004567984 0.025773226 0
0 0.004771515 0.013960367 0.011016525 0.07579166 1
1 0.143457859 -0.010676157 0.030637122 -0.018741934 0
2 -0.043239801 0.027243779 -0.05515315 0.068698851 0
3 0.037809881 0.034615385 0.03149732 0.007262536 0
4 0.135181277 0.043777396 0.047041691 -0.044569013 0
5 -0.131649389 0.013767808 -0.05576215 0.06607601 0
6 0.134472642 0.009700593 0.023847763 0.056840401 0
7 0.04487014 -0.004310345 0.045444755 0.045761171 0
8 -0.035188642 0.01382152 0.027920785 0.079259864 0
9 0.327784314 0.03925301 -0.06666469 -0.05918583 0
10 -0.149903702 0.02514727 0.050699788 0.052404246 0
11 0.071113683 -0.028634893 -0.03135782 -0.027077952 0
12 -0.072300434 -0.015708888 -0.04318097 0.048612907 0
13 -0.003092641 -0.013939394 0.011059608 0.014965707 0
14 -0.044239095 0.02699242 -0.00334988 0.013065232 0
15 0.084584817 0.020996459 0.053959474 0.070337659 0
16 0.06900325 -0.001953888 -0.00527038 0.052027387 0
17 0.082519565 0.008124511 0.022213555 0.011884066 0
18 0.083184614 -0.008544519 0.060172197 -0.019910446 0
19 -0.078855669 -0.020419156 -0.04847343 0.043141114 0
20 -0.002656237 0.010147463 0.007347265 -0.00974471 0
21 0.076110518 0.002919636 -0.04155375 -0.139047781 0
22 -0.070230669 -0.005871614 -0.10377425 0.065888504 0
23 -0.326613821 -0.048590431 0.004208681 0.077551401 0
24 0.190254047 -0.035995618 0.005606414 0.068056907 0
25 0.014183819 0.026516586 0.04455299 0.059149084 0
26 0.04863536 -0.008065792 -0.10658965 0.043243237 0
27 -0.051281148 0.010416667 0.005714038 -0.027897523 0
28 0.010365744 0.034662319 -0.02015178 0.041612552 0
29 0.039774438 0.029129175 0.036627706 0.036202086 0
30 0.159941073 0.017239676 -0.04755998 -0.023245908 0
31 -0.091948347 0.006701306 -0.03512005 0.053815099 0
32 0.053066324 0.024359655 0.047550132 -0.032388294 0
33 -0.034347026 0.000706348 0.022399432 -0.006288957 0
34 0.130995286 -0.022163663 -0.0226393 -0.029666495 0
35 -0.112078307 0.010298364 -0.01080816 0.065429284 0
36 0.046006686 -0.019529389 -0.02438896 0.0214681 0
37 0.064932409 0.036581811 0.046494582 0.069761186 0
38 -0.015799539 0.021558795 -0.09101711 -0.053539282 0
39 -0.143853155 -0.002064504 0.073785153 -0.023749241 0
40 0.012859073 0.030204119 -0.0372949 0.099845901 0
41 0.018221985 0.019813468 -0.01814714 -0.032326944 0
42 -0.008945352 0.02052247 0.038507295 -0.026423763 0
43 0.117943323 0.043049481 0.035875657 0.024013211 0
44 -0.003446062 -0.046904547 -0.03717969 -0.017853388 0
45 0.001283939 0.012680612 -0.03858085 0.052017382 0
46 0.028597398 0.037693258 -0.00966041 -0.054376931 0
47 -0.059909746 0.040264324 -0.00853512 -0.007101484 0
48 0.034465462 0.019925035 0.035875954 -0.078959979 0
49 0.012467504 -0.003172147 0.047335927 -0.001540323 0
50 -0.047557621 -0.04796647 -0.03301088 0.036667317 0
51 -0.041904451 0
52 0.043737236 0
53 0.050383173 0
54 0.003182242 0
55 -0.019535783 0
56 -0.038705859 0
57 -0.036324085 0
58 -0.012521828 0
59 0.049212853 0
60 -0.041272712 0
DRSDY
t Returns Forex MSCI Local MSCI US Dummy
-60 0.051770999 -0.023980815 0.035390655 -0.040361404 0
-59 0.001868904 -0.067260442 -0.00216167 0.114258574 0
-58 -0.048216375 0.058412907 0.011700787 -0.016634205 0
-57 0.096208635 0.019163763 0.012572634 0.01148169 0
-56 0.000641786 0.004273504 -0.01591478 -0.018406996 0
-55 -0.050615989 0.005775076 -0.02779834 0.029291775 0
-54 0.041083505 -0.029616198 0.055584348 0.004117786 0
-53 0.02029812 -0.051385861 0.02152785 -0.015236388 0
-52 0.04315521 -0.030203546 -0.0855683 0.041739955 0
-51 -0.014818063 -0.048070413 0.008771268 -0.02394162 0
-50 -0.011500852 0.006045519 -0.050752 0.010899931 0
-49 -0.003281398 0.089996465 -0.07850455 0.006133989 0
-48 -0.030432132 0.032559346 -0.0318961 0.033269298 0
-47 -0.00324553 0.013505025 -0.02802901 0.011064972 0
-46 0.000660383 -0.004028509 0.022085256 0.00882387 0
-45 -0.031578742 0.02271313 0.038227213 0.013179351 0
-44 0.177891176 -0.020079099 0.010356281 0.020624209 0
-43 0.005717532 -0.013039429 -0.00557088 -0.022028429 0
-42 -0.033751003 -0.001572822 -0.02367776 0.025611807 0
-41 -0.114841421 0.072148708 -0.04028597 0.003145356 0
-40 0.03227343 0.024977961 0.02843252 -0.001039735 0
-39 0.062683832 -0.037270642 0.08399035 0.036157762 0
-38 0.092617748 -0.026503871 0.017469813 -0.009795813 0
-37 -0.041480015 0.025084124 0.043354009 0.017635618 0
-36 0.020121252 0.024470307 -0.02494817 -0.006696882 0
-35 0.019063714 0.012816778 0.045262015 0.012180029 0
-34 0.045628423 0.001438021 -0.05691287 0.036441237 0
-33 -0.041218141 -0.022113728 -0.00694335 -0.028012242 0
-32 -0.061193922 -0.02020558 0.055770692 -0.043190339 0
-31 0.002586854 -0.005035669 0.045812373 0.014332842 0
-30 0.007748494 -0.009158282 -0.07339497 0.016750734 0
-29 -0.015799224 -0.03618121 0.014750409 -0.027973861 0
-28 -0.001134358 0.001135647 0.023098538 0.033935298 0
-27 0.029556853 -0.003907235 0.007157015 0.039532622 0
-26 0.067900818 -0.017904593 -0.05183137 -0.020983791 0
-25 -0.017521772 -0.030986278 0.036282418 0.023164866 0
-24 -0.004859845 0.042215131 -0.03708969 -0.033946091 0
-23 0.037733911 -0.012247241 0.021553984 0.014895296 0
-22 -0.012910703 -0.01407814 -0.04131119 0.027810232 0
-21 0.024996112 -0.045981529 0.055176366 0.039667194 0
-20 0.096298821 -0.058015791 -0.04476465 0.027035629 0
-19 -0.078419714 0.010568513 0.017732368 0.031632211 0
-18 -0.001004393 0.019329246 -0.0210147 0.0392877 0
-17 0.058047959 -0.021368429 0.007796764 0.024833319 0
-16 0.002663363 0.001301424 0.032986919 0.034195985 0
-15 -0.032577574 0.059210051 -0.05954732 0.000297806 0
-14 -0.029290659 -0.026450337 -0.01912327 0.045085528 0
-13 0.014661967 -0.013444437 -0.0173142 -0.00025113 0
-12 -0.055779901 0.026687487 -0.03037215 0.04418728 0
-11 0.045051659 -0.009402005 0.015938069 0.015330162 0
-10 -0.050765928 0.037964966 0.015873567 0.035895373 0
-9 0.046260879 -0.011699052 -0.00293114 0.010626962 0
-8 -0.024685241 0.004354038 -0.01544856 0.010344457 0
-7 -0.013219454 0.037119827 -0.05098722 0.015004454 0
-6 -0.025763593 -0.004180001 -0.00748893 0.026915335 0
-5 -0.007386656 -0.002885814 0.011317009 0.006109476 0
-4 0.036021653 -0.031770045 0.024348541 -0.043786024 0
-3 0.036676118 0.004959239 0.003871328 0.022612684 0
-2 -0.025893262 0.032177381 -0.03327642 0.056234425 0
-1 0.012965245 -0.008906936 -0.01198406 0.025773226 0
0 -0.002953073 0.016255865 -0.01213125 0.07579166 1
1 0.1091813 0.008583133 0.009259502 -0.018741934 0
2 -0.040925815 0.054412997 -0.05176109 0.068698851 0
3 0.120801499 0.031305411 0.031508129 0.007262536 0
4 0.05964834 -0.006640185 0.0954196 -0.044569013 0
5 0.02283607 0.033422859 -0.08187963 0.06607601 0
6 -0.053465305 -0.012821253 0.002138054 0.056840401 0
7 0.083554704 0.020242204 0.010615925 0.045761171 0
8 -0.052794525 0.055737141 0.043734888 0.079259864 0
9 0.397388926 -0.019770789 -0.06819669 -0.05918583 0
10 -0.091930448 -0.020834488 0.03939865 0.052404246 0
11 0.146463371 -0.025012733 -0.05877444 -0.027077952 0
12 -0.146254853 0.024029253 -0.00060107 0.048612907 0
13 -0.036414719 0.01530352 0.02682011 0.014965707 0
14 0.149684769 0.021995199 0.016716291 0.013065232 0
15 -0.004403081 -0.00906757 0.015197969 0.070337659 0
16 -0.007613006 0.018742076 0.029997045 0.052027387 0
17 0.060524253 -0.02900276 0.024308178 0.011884066 0
18 0.145277221 -0.005461131 0.087095967 -0.019910446 0
19 0.02195008 0.010646047 0.010061518 0.043141114 0
20 -0.016310946 -0.013749515 0.024402125 -0.00974471 0
21 0.088504388 -0.003935016 -0.08449403 -0.139047781 0
22 -0.200544426 -0.057339579 -0.05877308 0.065888504 0
23 -0.275410633 -0.00694486 -0.01108019 0.077551401 0
24 0.127061621 0.021944897 0.004681677 0.068056907 0
25 0.095305063 -0.016282225 -0.01683352 0.059149084 0
26 -0.044477325 0.031844078 -0.01534615 0.043243237 0
27 -0.028325506 0.032314309 -0.07082463 -0.027897523 0
28 -0.17767505 0.017903389 -0.05792326 0.041612552 0
29 0.210028482 0.023064159 0.03742534 0.036202086 0
30 0.088711396 0.014813213 -0.05190648 -0.023245908 0
31 -0.196211826 0.011027649 0.017270153 0.053815099 0
32 0.212051639 -0.036621351 -0.00149334 -0.032388294 0
33 -0.00574804 0.010939124 0.015847735 -0.006288957 0
34 0.116323246 -0.008223773 -0.00062543 -0.029666495 0
35 0.00489281 0.013474442 0.008718167 0.065429284 0
36 0.059503812 0.045268597 0.009253827 0.0214681 0
37 -0.056759819 0.002780782 0.123125958 0.069761186 0
38 0.059007242 0.02993889 -0.00740925 -0.053539282 0
39 -0.020692127 0.011019146 0.11360664 -0.023749241 0
40 -0.071191544 0.007742763 -0.0826675 0.099845901 0
41 -0.085455366 0.051384947 -0.07218094 -0.032326944 0
42 0.040254842 -0.025879724 -0.02029685 -0.026423763 0
43 0.009415033 -0.022362385 -0.02298985 0.024013211 0
44 -0.091400453 0.029667644 0.001803358 -0.017853388 0
45 0.091039518 0.047182798 -0.08323205 0.052017382 0
46 0.052792524 0.00317302 -0.02430102 -0.054376931 0
47 -0.055732979 0.040260268 0.006253174 -0.007101484 0
48 -0.009942417 -0.024367996 -0.03045107 -0.078959979 0
49 -0.037226348 -0.071234584 0.080579842 -0.001540323 0
50 0.06622155 0.007526005 0.010527292 0.036667317 0
51 0
52 0
53 0
54 0
55 0
56 0
57 0
58 0
59 0
60 0
DTBKY
t Returns Forex MSCI Local MSCI US Dummy
-60 0.032614701 -0.023980815 0.035390655 -0.040361404 0
-59 0.070440161 -0.067260442 -0.00216167 0.114258574 0
-58 -0.021572283 0.058412907 0.011700787 -0.016634205 0
-57 0.030285982 0.019163763 0.012572634 0.01148169 0
-56 0.032327723 0.004273504 -0.01591478 -0.018406996 0
-55 -0.028864197 0.005775076 -0.02779834 0.029291775 0
-54 0.022633454 -0.029616198 0.055584348 0.004117786 0
-53 0.05055614 -0.051385861 0.02152785 -0.015236388 0
-52 0.024346757 -0.030203546 -0.0855683 0.041739955 0
-51 -0.05770402 -0.048070413 0.008771268 -0.02394162 0
-50 -0.031906024 0.006045519 -0.050752 0.010899931 0
-49 -0.034694432 0.089996465 -0.07850455 0.006133989 0
-48 -0.020893506 0.032559346 -0.0318961 0.033269298 0
-47 0.031398476 0.013505025 -0.02802901 0.011064972 0
-46 -0.040387235 -0.004028509 0.022085256 0.00882387 0
-45 -0.025854908 0.02271313 0.038227213 0.013179351 0
-44 0.125849971 -0.020079099 0.010356281 0.020624209 0
-43 0.006623104 -0.013039429 -0.00557088 -0.022028429 0
-42 -0.012675914 -0.001572822 -0.02367776 0.025611807 0
-41 -0.098527383 0.072148708 -0.04028597 0.003145356 0
-40 0.001857367 0.024977961 0.02843252 -0.001039735 0
-39 0.118777244 -0.037270642 0.08399035 0.036157762 0
-38 0.084647992 -0.026503871 0.017469813 -0.009795813 0
-37 -0.03894108 0.025084124 0.043354009 0.017635618 0
-36 0.05999108 0.024470307 -0.02494817 -0.006696882 0
-35 0.0085888 0.012816778 0.045262015 0.012180029 0
-34 0.030579788 0.001438021 -0.05691287 0.036441237 0
-33 -0.033502419 -0.022113728 -0.00694335 -0.028012242 0
-32 -0.023699383 -0.02020558 0.055770692 -0.043190339 0
-31 -0.008803495 -0.005035669 0.045812373 0.014332842 0
-30 0.016943157 -0.009158282 -0.07339497 0.016750734 0
-29 -0.036046782 -0.03618121 0.014750409 -0.027973861 0
-28 -0.063275144 0.001135647 0.023098538 0.033935298 0
-27 0.061505605 -0.003907235 0.007157015 0.039532622 0
-26 0.009583023 -0.017904593 -0.05183137 -0.020983791 0
-25 -0.04244841 -0.030986278 0.036282418 0.023164866 0
-24 0.049501014 0.042215131 -0.03708969 -0.033946091 0
-23 0.019289915 -0.012247241 0.021553984 0.014895296 0
-22 -0.028782444 -0.01407814 -0.04131119 0.027810232 0
-21 0.035172967 -0.045981529 0.055176366 0.039667194 0
-20 0.087999627 -0.058015791 -0.04476465 0.027035629 0
-19 -0.108749549 0.010568513 0.017732368 0.031632211 0
-18 0.030879332 0.019329246 -0.0210147 0.0392877 0
-17 0.045934891 -0.021368429 0.007796764 0.024833319 0
-16 -0.040419329 0.001301424 0.032986919 0.034195985 0
-15 -0.042882035 0.059210051 -0.05954732 0.000297806 0
-14 0.019879771 -0.026450337 -0.01912327 0.045085528 0
-13 0.028418527 -0.013444437 -0.0173142 -0.00025113 0
-12 -0.094320014 0.026687487 -0.03037215 0.04418728 0
-11 0.088835724 -0.009402005 0.015938069 0.015330162 0
-10 -0.046726552 0.037964966 0.015873567 0.035895373 0
-9 0.105210303 -0.011699052 -0.00293114 0.010626962 0
-8 0.004022707 0.004354038 -0.01544856 0.010344457 0
-7 -0.037344766 0.037119827 -0.05098722 0.015004454 0
-6 -0.014168626 -0.004180001 -0.00748893 0.026915335 0
-5 -0.025406683 -0.002885814 0.011317009 0.006109476 0
-4 0.045042025 -0.031770045 0.024348541 -0.043786024 0
-3 0.031108276 0.004959239 0.003871328 0.022612684 0
-2 -0.055661938 0.032177381 -0.03327642 0.056234425 0
-1 -0.005765103 -0.008906936 -0.01198406 0.025773226 0
0 -0.027565876 0.016255865 -0.01213125 0.07579166 1
1 0.019296568 0.008583133 0.009259502 -0.018741934 0
2 -0.065455919 0.054412997 -0.05176109 0.068698851 0
3 0.13776003 0.031305411 0.031508129 0.007262536 0
4 0.05466763 -0.006640185 0.0954196 -0.044569013 0
5 -0.020675413 0.033422859 -0.08187963 0.06607601 0
6 0.035073593 -0.012821253 0.002138054 0.056840401 0
7 0.034924149 0.020242204 0.010615925 0.045761171 0
8 0.00166979 0.055737141 0.043734888 0.079259864 0
9 0.221148587 -0.019770789 -0.06819669 -0.05918583 0
10 -0.092010751 -0.020834488 0.03939865 0.052404246 0
11 0.198432191 -0.025012733 -0.05877444 -0.027077952 0
12 -0.11428064 0.024029253 -0.00060107 0.048612907 0
13 -0.016793249 0.01530352 0.02682011 0.014965707 0
14 0.08154797 0.021995199 0.016716291 0.013065232 0
15 -0.058743866 -0.00906757 0.015197969 0.070337659 0
16 0.025918125 0.018742076 0.029997045 0.052027387 0
17 0.168344453 -0.02900276 0.024308178 0.011884066 0
18 -0.011348626 -0.005461131 0.087095967 -0.019910446 0
19 0.100527149 0.010646047 0.010061518 0.043141114 0
20 0.009959755 -0.013749515 0.024402125 -0.00974471 0
21 -0.099082998 -0.003935016 -0.08449403 -0.139047781 0
22 -0.140805926 -0.057339579 -0.05877308 0.065888504 0
23 -0.260639972 -0.00694486 -0.01108019 0.077551401 0
24 0.23562745 0.021944897 0.004681677 0.068056907 0
25 -0.012985368 -0.016282225 -0.01683352 0.059149084 0
26 -0.050715142 0.031844078 -0.01534615 0.043243237 0
27 -0.031898658 0.032314309 -0.07082463 -0.027897523 0
28 -0.095995979 0.017903389 -0.05792326 0.041612552 0
29 0.023005026 0.023064159 0.03742534 0.036202086 0
30 0.160902998 0.014813213 -0.05190648 -0.023245908 0
31 -0.083345435 0.011027649 0.017270153 0.053815099 0
32 0.229413009 -0.036621351 -0.00149334 -0.032388294 0
33 -0.05319087 0.010939124 0.015847735 -0.006288957 0
34 0.126302039 -0.008223773 -0.00062543 -0.029666495 0
35 -0.042942047 0.013474442 0.008718167 0.065429284 0
36 0.041038842 0.045268597 0.009253827 0.0214681 0
37 -0.036256602 0.002780782 0.123125958 0.069761186 0
38 0.160131014 0.02993889 -0.00740925 -0.053539282 0
39 -0.020902598 0.011019146 0.11360664 -0.023749241 0
40 0.085972163 0.007742763 -0.0826675 0.099845901 0
41 -0.185287908 0.051384947 -0.07218094 -0.032326944 0
42 0.033560243 -0.025879724 -0.02029685 -0.026423763 0
43 0.171252902 -0.022362385 -0.02298985 0.024013211 0
44 0.015718082 0.029667644 0.001803358 -0.017853388 0
45 0.024001145 0.047182798 -0.08323205 0.052017382 0
46 0.035702105 0.00317302 -0.02430102 -0.054376931 0
47 -0.081599786 0.040260268 0.006253174 -0.007101484 0
48 0.05109068 -0.024367996 -0.03045107 -0.078959979 0
49 -0.041448857 -0.071234584 0.080579842 -0.001540323 0
50 0.024845149 0.007526005 0.010527292 0.036667317 0
51 0
52 0
53 0
54 0
55 0
56 0
57 0
58 0
59 0
60 0
ING
t Returns Forex MSCI Local MSCI US Dummy
-60 0.046335755 -0.021582734 0.025830713 -0.040361404 0
-59 0.028927868 -0.066448802 -0.00332351 0.114258574 0
-58 -0.056773997 0.052508751 0.004048148 -0.016634205 0
-57 0.092562978 0.022172949 -0.00908533 0.01148169 0
-56 -0.003235035 0.004338395 -0.00819267 -0.018406996 0
-55 0.017641667 0.004049676 0.022067637 0.029291775 0
-54 -0.008755608 -0.027695617 0.035321815 0.004117786 0
-53 0.013203178 -0.050110619 0.014016108 -0.015236388 0
-52 0.03434474 -0.028764411 -0.0293647 0.041739955 0
-51 0.011473997 -0.049760192 0.037366257 -0.02394162 0
-50 -0.067384189 0.00977918 0.010290623 0.010899931 0
-49 -0.007943948 0.083099032 -0.10473596 0.006133989 0
-48 0.027763185 0.03472743 -0.04306354 0.033269298 0
-47 -0.009005525 0.009087361 -0.00025298 0.011064972 0
-46 0.089103448 0.001381215 0.012027118 0.00882387 0
-45 0.047822099 0.019144828 0.018695678 0.013179351 0
-44 0.128752153 -0.018243828 0.046054253 0.020624209 0
-43 0.009856331 -0.016542597 0.005013179 -0.022028429 0
-42 0.011467697 -0.001962433 -0.00055811 0.025611807 0
-41 -0.061568104 0.071067416 -0.01460734 0.003145356 0
-40 -0.043280754 0.025701547 -0.00298651 -0.001039735 0
-39 0.115246567 -0.035796471 0.073312056 0.036157762 0
-38 0.097062997 -0.03049589 0.005599221 -0.009795813 0
-37 -0.004693012 0.029814004 0.04292549 0.017635618 0
-36 0.079639836 0.023373174 -0.03137445 -0.006696882 0
-35 0.026817711 0.007734233 0.040623015 0.012180029 0
-34 0.090355843 0.004223756 0.017836713 0.036441237 0
-33 -0.01127348 -0.019029545 -0.00614609 -0.028012242 0
-32 -0.066980992 -0.021437908 -0.0102372 -0.043190339 0
-31 -0.028613441 -0.00277852 0.041982531 0.014332842 0
-30 -0.023565413 -0.01178803 -0.04667151 0.016750734 0
-29 0.009478183 -0.036219704 0.003998579 -0.027973861 0
-28 0.013226942 0.00140647 0.034710059 0.033935298 0
-27 0.072207053 -0.004044944 0.005649533 0.039532622 0
-26 -0.00342579 -0.019629964 -0.0192772 -0.020983791 0
-25 -0.031107385 -0.030034522 0.047605787 0.023164866 0
-24 0.008859003 0.041582631 -0.03404222 -0.033946091 0
-23 0.059991003 -0.012301384 0.012500861 0.014895296 0
-22 0.017307347 -0.013723116 -0.01066224 0.027810232 0
-21 0.016477795 -0.044431453 -0.00172278 0.039667194 0
-20 0.071336055 -0.062098501 0.028693104 0.027035629 0
-19 -0.063976534 0.01285062 0.008872624 0.031632211 0
-18 0.065046491 0.018805951 -0.01717118 0.0392877 0
-17 0.068394156 -0.020481699 -0.01009965 0.024833319 0
-16 -0.00574126 0.002581478 0.030238882 0.034195985 0
-15 -0.023446036 0.058577406 -0.06490709 0.000297806 0
-14 0.057433597 -0.028093645 0.014872319 0.045085528 0
-13 0.024035624 -0.011762498 -0.01925162 -0.00025113 0
-12 -0.008976401 0.025197847 -0.00126003 0.04418728 0
-11 0.131552738 -0.010621874 0.028804884 0.015330162 0
-10 -0.025976184 0.04057175 -0.0217531 0.035895373 0
-9 0.02751598 -0.014276288 0.010370982 0.010626962 0
-8 0.013850306 0.005355078 0.018112553 0.010344457 0
-7 0.063511136 0.037164821 -0.0099919 0.015004454 0
-6 0.100486398 -0.003968486 0.024300912 0.026915335 0
-5 0.042893128 -0.000468741 -0.00645601 0.006109476 0
-4 -0.061752138 -0.031420365 0.007226718 -0.043786024 0
-3 0.009561977 0.003873389 -0.00241194 0.022612684 0
-2 -0.019671915 0.032314463 -0.01527374 0.056234425 0
-1 0.030818571 -0.009344157 0.003744485 0.025773226 0
0 -0.011046584 0.016624418 0.009250215 0.07579166 1
1 0.112204478 0.010437808 0.030652702 -0.018741934 0
2 -0.016661085 0.054289813 -0.05678577 0.068698851 0
3 0.070487233 0.03309564 0.031022735 0.007262536 0
4 0.072804141 -0.006955056 0.047544093 -0.044569013 0
5 -0.07462663 0.033533188 -0.05734532 0.06607601 0
6 0.126890411 -0.01273166 0.022438671 0.056840401 0
7 0.094057295 0.020695752 0.044244498 0.045761171 0
8 -0.006581656 0.056548984 0.026089101 0.079259864 0
9 0.114746308 -0.01967308 -0.06588677 -0.05918583 0
10 -0.07845779 -0.021149968 0.049374314 0.052404246 0
11 0.065893098 -0.024420883 -0.03118511 -0.027077952 0
12 -0.120537517 0.024208087 -0.04443498 0.048612907 0
13 -0.041802874 0.015287905 0.010439823 0.014965707 0
14 0.016722835 0.022883749 -0.00393384 0.013065232 0
15 0.141562507 -0.010072151 0.052295968 0.070337659 0
16 0.130746145 0.019077435 -0.00658875 0.052027387 0
17 0.108714086 -0.029952479 0.021651857 0.011884066 0
18 0.170174839 -0.004651393 0.060209803 -0.019910446 0
19 -0.019365761 0.01103654 -0.0496243 0.043141114 0
20 -0.001671517 -0.013669666 0.007193254 -0.00974471 0
21 0.084484287 -0.003190588 -0.0392705 -0.139047781 0
22 -0.170095516 -0.058214554 -0.1053539 0.065888504 0
23 -0.296479789 -0.006584887 0.002409201 0.077551401 0
24 0.193489709 0.021596194 0.003985898 0.068056907 0
25 0.058686778 -0.016953587 0.043100381 0.059149084 0
26 0.088925435 0.031936978 -0.10774244 0.043243237 0
27 0.008617589 0.032289679 0.005902194 -0.027897523 0
28 -0.098427792 0.01793834 -0.02127384 0.041612552 0
29 -0.00576914 0.023021795 0.035607631 0.036202086 0
30 0.124958884 0.014778561 -0.04745951 -0.023245908 0
31 -0.119926498 0.011111636 -0.03647212 0.053815099 0
32 0.056269801 -0.036662926 0.047822936 -0.032388294 0
33 -0.098018135 0.010970874 0.022180283 -0.006288957 0
34 0.082469426 -0.008258907 -0.0224178 -0.029666495 0
35 -0.015781312 0.013847197 -0.01237915 0.065429284 0
36 0.039387407 0.044937918 -0.02513131 0.0214681 0
37 0.018468039 0.002787807 0.044841942 0.069761186 0
38 0.032600753 0.029897001 -0.09034562 -0.053539282 0
39 -0.145738679 0.011018674 0.073895117 -0.023749241 0
40 0.002818083 0.007747188 -0.03951461 0.099845901 0
41 0.024683879 0.051381167 -0.01787549 -0.032326944 0
42 0.089868982 -0.02486884 0.038667672 -0.026423763 0
43 0.092082891 -0.023384876 0.035085333 0.024013211 0
44 0.069499398 0.029670759 -0.03718086 -0.017853388 0
45 -0.023010196 0.047183722 -0.03989903 0.052017382 0
46 0.026779629 0.003178179 -0.00897314 -0.054376931 0
47 -0.014543114 0.040263073 -0.00873895 -0.007101484 0
48 0.09901155 -0.02459522 0.037026601 -0.078959979 0
49 0.125189972 -0.070824441 0.047027269 -0.001540323 0
50 -0.01169971 0.00710336 -0.03403973 0.036667317 0
51 0
52 0
53 0
54 0
55 0
56 0
57 0
58 0
59 0
60 0
MBK
t Returns Forex MSCI Local MSCI US Dummy
-60 0.095103909 0.012919897 -0.04954968 0.080489834 0
-59 0.041594496 0.018249608 0.023495016 0.01198073 0
-58 0.168192802 -0.033917903 0.052457412 0.002842044 0
-57 0.008837995 0.003790146 -0.03621143 -0.002075307 0
-56 -0.0728855 -0.002285374 -0.00013549 0.06206921 0
-55 0.092290766 -0.010257942 0.034417957 0.014801239 0
-54 0.083014621 -0.047796337 0.003417223 -0.002859982 0
-53 -0.02173854 0.00982775 0.025542235 -0.008940368 0
-52 0.051007932 -0.095228129 0.119237931 -0.031498578 0
-51 -0.043384443 -0.02209114 0.0050528 0.045528194 0
-50 0.053238396 -0.043997635 -0.02395693 0.069619264 0
-49 0.009870065 -0.009773599 0.029509438 0.051645661 0
-48 0.052348165 -0.036731634 0.021339253 0.006349593 0
-47 0.055195314 -0.065110246 0.078429786 0.075811286 0
-46 0.017930366 -0.004162042 0.182769097 0.055865242 0
-45 0.215678688 -0.066870995 0.042107947 -0.013865158 0
-44 -0.145877059 0.041504927 -0.03501815 0.049277419 0
-43 0.065038168 -0.061066514 0.091781635 0.013063771 0
-42 0.107666245 -0.059847328 0.156571464 -0.053337376 0
-41 0.021513812 0.004871712 0.049814605 0.07393467 0
-40 0.118294889 -0.001939237 0.065569543 -0.085007496 0
-39 -0.08784845 0.058290155 -0.1656838 0.056755911 0
-38 -0.008863859 -0.009179927 0.051126029 0.023505521 0
-37 0.055250552 -0.023471279 0.08332474 -0.025194516 0
-36 0.126196426 -0.027988615 0.08945815 0.132805368 0
-35 0.409765924 -0.003090939 -0.00363936 0.035913075 0
-34 0.042311754 -0.047976501 0.092590325 0.026959315 0
-33 0.266068529 -0.035653068 0.158871332 -0.009035175 0
-32 0.174778662 0.02417348 -0.00784284 0.005646351 0
-31 -0.0245741 0.019784797 -0.1038113 0.051782608 0
-30 -0.193907305 0.020081688 -0.06257328 0.047543022 0
-29 0.023202015 -0.051051051 0.101259418 0.039404982 0
-28 0.026171188 0.029535865 -0.0275036 -0.021320183 0
-27 0.008818756 -0.055498634 0.030998012 -0.212227943 0
-26 -0.020004909 -0.043572591 0.080326117 -0.084527711 0
-25 0.119451214 -0.084688091 -0.02634268 0.070416244 0
-24 -0.136772266 0.054935977 0.028734306 0.042833667 0
-23 0.164343925 0.004698512 0.050895041 0.041868908 0
-22 0.069407547 -0.031722525 0.089466581 -0.033456463 0
-21 0.027682631 0.005795702 0.002581842 0.009183644 0
-20 -0.010283489 0.00080032 -0.05269552 0.008602677 0
-19 -0.133424948 0.069172331 -0.06473503 0.046548771 0
-18 -0.012071456 -0.005235602 0.044341295 -0.003091477 0
-17 0.038937259 0.026691729 -0.06139312 -0.033542339 0
-16 -0.044125966 -0.019223728 0.017993075 0.042731908 0
-15 0.098837222 -0.064401717 0.064593171 0.030652927 0
-14 0.045435093 -0.027134876 0.093699431 -0.01541278 0
-13 0.092570359 0.025840853 -0.00578711 0.016380642 0
-12 0.007396551 0.043182727 -0.03927593 0.076090664 0
-11 -0.009316421 -0.027980069 0.031654512 -0.029986073 0
-10 -0.0667291 0.046135647 -0.04961982 0.022537866 0
-9 -0.034205087 0.001507727 -0.03266774 0.054335353 0
-8 -0.056865004 0.070756492 -0.07959739 0.038606605 0
-7 0.016805457 0.012302285 -0.04598437 -0.003719954 0
-6 0.024486193 -0.048611111 0.082408711 0.091681842 0
-5 0.028130421 0.054744526 -0.079895 0.015141865 0
-4 -0.000655378 -0.035294118 0.061717722 -0.002110454 0
-3 -0.028515227 0.022955524 -0.01767586 -0.022632691 0
-2 0.008317351 0.001051893 0.037270641 0.020695894 0
-1 -0.000112387 0.006304729 -0.01654257 0.02257462 0
0 0.025413955 0.005221023 -0.02990839 -0.064846627 1
1 -0.136752822 0.030470914 -0.11415183 0.014899044 0
2 -0.179615384 0.063508065 -0.20919639 0.023712346 0
3 -0.094797933 0.003791469 0.019993609 -0.020320682 0
4 0.056566466 -0.040919106 0.092484536 0.092503554 0
5 0.094980535 -0.002625533 -0.04789068 -0.003640564 0
6 -0.023277632 -0.037841395 -0.01581827 -0.001455471 0
7 -0.121615439 -0.017236662 -0.05336464 -0.091408821 0
8 -0.01553663 -0.039532294 -0.14289438 -0.046300985 0
9 -0.182686657 -0.058333333 0.240957535 -0.002982468 0
10 0.192900555 0.020777222 -0.15703855 0.065772428 0
11 0.026670796 0.022992838 0.029627019 0.027879222 0
12 0.142156781 -0.031319086 0.000816249 0.047783069 0
13 0.097222939 0.012171928 0.087482782 0.069188178 0
14 -0.058719491 0.062382563 -0.07781304 0.024439344 0
15 0.119883144 -0.033604528 0.019799383 0.003977997 0
16 0.061621335 0.013543192 -0.02905476 0.041616834 0
17 0.045422066 -0.004333694 -0.05149071 -0.045762063 0
18 -0.068727902 -0.002901705 0.003756661 0.046883186 0
19 0.003650968 -0.003637686 -0.07078132 0.024296825 0
20 0.066146825 -0.029572837 0.092996457 -0.016921243 0
21 0.036129462 -0.016930023 0.031259952 0.017296804 0
22 0.09218863 -0.004209721 -0.05292254 -0.040361404 0
23 -0.070442714 -0.039738663 -0.03017219 0.114258574 0
24 -0.030739445 0.004562555 -0.04082182 -0.016634205 0
25 -0.11762342 0.028286853 -0.09244439 0.01148169 0
26 -0.039041966 0.031770632 -0.10197387 -0.018406996 0
27 -0.202316946 0.000751033 -0.07964335 0.029291775 0
28 -0.018248012 -0.041651032 0.074879827 0.004117786 0
29 0.025931267 -0.014134691 -0.08660569 -0.015236388 0
30 -0.145300964 0.011358672 -0.03590429 0.041739955 0
31 0.193320074 -0.030551738 0.1864891 -0.02394162 0
32 0.308390863 -0.028436019 -0.03258726 0.010899931 0
33 -0.126089076 0.027308735 -0.05260311 0.006133989 0
34 0.0538781 0.009943182 0.005720763 0.033269298 0
35 0.029457267 0.003013864 -0.02348124 0.011064972 0
36 0.045464924 -0.000400641 -0.01080555 0.00882387 0
37 0.098958667 -0.054749499 0.033519561 0.013179351 0
38 0.01174791 -0.023914518 0.127072514 0.020624209 0
39 0.099073596 -0.032797567 0.186052872 -0.022028429 0
40 0.033841719 -0.036559623 0.01133411 0.025611807 0
41 0.097461735 -0.005640763 -0.01852737 0.003145356 0
42 0.007846401 -0.015002344 0.060830585 -0.001039735 0
43 0.077879103 -0.004283674 0.000170266 0.036157762 0
44 -0.002633897 0.01290631 -0.04554823 -0.009795813 0
45 -0.048403059 0.022463426 -0.01666898 0.017635618 0
46 0.063360135 0.005723253 -0.16557536 -0.006696882 0
47 -0.15499009 0.025883433 0.022418985 0.012180029 0
48 0.023451765 -0.026572426 0.139679439 0.036441237 0
49 0.170880473 -0.043198529 0.057080686 -0.028012242 0
50 -0.023117555 -0.014121037 -0.02362061 -0.043190339 0
51 -0.03987035 -0.005651369 0.032206411 0.014332842 0
52 -0.032702995 0.026261636 0.010218178 0.016750734 0
53 0.083894583 -0.060441134 0.060649163 -0.027973861 0
54 -0.067131011 0.017784553 -0.0564287 0.033935298 0
55 -0.011607657 0.0001997 -0.0165794 0.039532622 0
56 0.007114284 -0.010881501 -0.01695252 -0.020983791 0
57 -0.024472042 -0.022406136 0.012455227 0.023164866 0
58 -0.048287578 0.020958084 -0.03592249 -0.033946091 0
59 -0.064010955 0.006067348 0.000764703 0.014895296 0
60 0.082111941 0.001809227 -0.07567578 0.027810232 0
