Value-Weighted Return- Return on the S&P 500

Date incl. dividends Index

17/02/2015 0.16%
18/02/2015 0.20% -0.03%
19/02/2015 2.03% -0.11%
20/02/2015 -0.12% 0.61%
23/02/2015 -0.06% -0.03%
24/02/2015 -0.85% 0.28%
25/02/2015 0.38% -0.08%
26/02/2015 1.04% -0.15%
27/02/2015 -0.14% -0.30%
02/03/2015 2.08% 0.61%
03/03/2015 -1.08% -0.45%
04/03/2015 -0.91% -0.44%
05/03/2015 -0.30% 0.12%
06/03/2015 -1.66% -1.42%
09/03/2015 1.18% 0.39%
10/03/2015 -1.48% -1.70%
11/03/2015 -0.23% -0.19%
12/03/2015 2.13% 1.26%
13/03/2015 -0.87% -0.61%
16/03/2015 1.72% 1.35%
17/03/2015 -1.26% -0.33%
18/03/2015 0.96% 1.22%
19/03/2015 1.30% -0.49%
20/03/2015 -0.32% 0.90%
23/03/2015 0.27% -0.17%
24/03/2015 -2.40% -0.61%
25/03/2015 -2.99% -1.46%
26/03/2015 0.98% -0.24%
27/03/2015 0.30% 0.24%
30/03/2015 0.84% 1.22%
31/03/2015 -1.45% -0.88%
01/04/2015 0.01% -0.40%
02/04/2015 -0.22% 0.35%
06/04/2015 0.16% 0.66%
07/04/2015 -1.41% -0.21%
08/04/2015 1.31% 0.27%
09/04/2015 0.05% 0.45%
10/04/2015 0.12% 0.52%
13/04/2015 -0.14% -0.46%
14/04/2015 -1.18% 0.16%
15/04/2015 -0.38% 0.51%
16/04/2015 -0.57% -0.08%
17/04/2015 -1.11% -1.13%
20/04/2015 2.74% 0.92%
21/04/2015 0.88% -0.15%
22/04/2015 0.39% 0.51%
23/04/2015 0.70% 0.24%
24/04/2015 0.60% 0.23%
27/04/2015 -0.57% -0.41%
28/04/2015 -0.06% 0.28%
29/04/2015 3.14% -0.37%
30/04/2015 -4.55% -1.01%
01/05/2015 1.14% 1.09%
04/05/2015 -0.56% 0.29%
05/05/2015 -2.86% -1.18%
06/05/2015 0.78% -0.45%
07/05/2015 -0.43% 0.38%
08/05/2015 2.32% 1.35%
11/05/2015 -0.72% -0.51%
12/05/2015 -0.70% -0.30%
13/05/2015 -0.61% -0.03%
14/05/2015 2.41% 1.08%
15/05/2015 0.40% 0.08%
18/05/2015 0.41% 0.30%
19/05/2015 -0.41% -0.06%
20/05/2015 0.01% -0.09%
21/05/2015 -0.24% 0.23%
22/05/2015 -0.40% -0.22%
26/05/2015 -1.80% -1.03%
27/05/2015 0.62% 0.92%
28/05/2015 -0.21% -0.13%
29/05/2015 -1.32% -0.63%
01/06/2015 -0.03% 0.21%
02/06/2015 0.59% -0.10%
03/06/2015 1.21% 0.21%
04/06/2015 -1.13% -0.86%
05/06/2015 -0.13% -0.14%
08/06/2015 -1.81% -0.65%
09/06/2015 0.47% 0.04%
10/06/2015 -0.12% 1.20%
11/06/2015 0.05% 0.17%
12/06/2015 -0.83% -0.70%
15/06/2015 0.51% -0.46%
16/06/2015 -0.38% 0.57%
17/06/2015 0.38% 0.20%
18/06/2015 1.47% 0.99%
19/06/2015 -0.65% -0.53%
22/06/2015 0.35% 0.61%
23/06/2015 -0.41% 0.06%
24/06/2015 -1.57% -0.74%
25/06/2015 -0.27% -0.30%
26/06/2015 -0.19% -0.04%
29/06/2015 -2.88% -2.09%
30/06/2015 0.76% 0.27%
01/07/2015 0.81% 0.69%
02/07/2015 -0.25% -0.03%
06/07/2015 -0.66% -0.39%
07/07/2015 1.52% 0.61%
08/07/2015 -1.96% -1.67%
09/07/2015 0.30% 0.23%
10/07/2015 2.41% 1.23%
13/07/2015 1.33% 1.11%
14/07/2015 0.36% 0.45%
15/07/2015 0.13% -0.07%
16/07/2015 1.15% 0.80%
17/07/2015 -0.70% 0.11%
20/07/2015 0.17% 0.08%
21/07/2015 -1.58% -0.43%
22/07/2015 0.43% -0.24%
23/07/2015 -3.00% -0.57%
24/07/2015 -0.80% -1.07%
27/07/2015 -0.16% -0.58%
28/07/2015 0.93% 1.24%
29/07/2015 3.23% 0.73%
30/07/2015 -5.66% 0.00%
31/07/2015 -0.04% -0.23%
03/08/2015 -0.06% -0.28%
04/08/2015 -0.48% -0.23%
05/08/2015 -2.10% 0.31%
06/08/2015 0.33% -0.78%
07/08/2015 0.62% -0.29%
10/08/2015 1.65% 1.28%
11/08/2015 -0.57% -0.96%
12/08/2015 0.18% 0.10%
13/08/2015 0.04% -0.13%
14/08/2015 -0.62% 0.39%
17/08/2015 1.52% 0.52%
18/08/2015 -0.43% -0.26%
19/08/2015 -0.65% -0.83%
20/08/2015 -2.66% -2.11%
21/08/2015 -0.96% -3.19%
24/08/2015 -3.81% -3.94%
25/08/2015 -0.19% -1.35%
26/08/2015 5.05% 3.90%
27/08/2015 1.70% 2.43%
28/08/2015 0.66% 0.06%
31/08/2015 -1.29% -0.84%
01/09/2015 -2.22% -2.96%
02/09/2015 2.65% 1.83%
03/09/2015 0.21% 0.12%
04/09/2015 -1.48% -1.53%
08/09/2015 3.43% 2.51%
09/09/2015 -1.70% -1.39%
10/09/2015 1.52% 0.53%
11/09/2015 1.02% 0.45%
14/09/2015 -0.03% -0.41%
15/09/2015 -1.03% 1.28%
16/09/2015 0.76% 0.87%
17/09/2015 -0.87% -0.26%
18/09/2015 -3.44% -1.62%
21/09/2015 0.77% 0.46%
22/09/2015 -3.09% -1.23%
23/09/2015 -0.48% -0.20%
24/09/2015 0.71% -0.34%
25/09/2015 0.44% -0.05%
28/09/2015 -3.40% -2.57%
29/09/2015 -1.10% 0.12%
30/09/2015 4.22% 1.91%
01/10/2015 2.80% 0.20%
02/10/2015 1.93% 1.43%
05/10/2015 1.82% 1.83%
06/10/2015 -1.17% -0.36%
07/10/2015 3.14% 0.80%
08/10/2015 3.22% 0.88%
09/10/2015 -0.12% 0.07%
12/10/2015 -0.08% 0.13%
13/10/2015 -1.48% -0.68%
14/10/2015 -1.47% -0.47%
15/10/2015 0.90% 1.49%
16/10/2015 -1.35% 0.46%
19/10/2015 -0.61% 0.03%
20/10/2015 2.06% -0.14%
21/10/2015 -1.39% -0.58%
22/10/2015 4.09% 1.66%
23/10/2015 -2.05% 1.10%
26/10/2015 1.75% -0.19%
27/10/2015 1.80% -0.26%
28/10/2015 -1.41% 1.18%
29/10/2015 0.12% -0.05%
30/10/2015 -0.26% -0.48%
02/11/2015 0.89% 1.19%
03/11/2015 -0.97% 0.27%
04/11/2015 0.40% -0.35%
05/11/2015 -0.39% -0.11%
06/11/2015 -0.05% -0.03%
09/11/2015 -1.20% -0.98%
10/11/2015 1.00% 0.15%
11/11/2015 -1.39% -0.32%
12/11/2015 -1.25% -1.40%
13/11/2015 -2.39% -1.12%
16/11/2015 1.35% 1.49%
17/11/2015 -0.95% -0.13%
18/11/2015 -0.74% 1.62%
19/11/2015 0.47% -0.11%
20/11/2015 -0.36% 0.38%
23/11/2015 0.12% -0.12%
24/11/2015 -1.96% 0.12%
25/11/2015 1.21% -0.01%
27/11/2015 -0.50% 0.06%
30/11/2015 -0.80% -0.46%
01/12/2015 1.90% 1.07%
02/12/2015 -0.79% -1.10%
03/12/2015 -4.06% -1.44%
04/12/2015 3.29% 2.05%
07/12/2015 -2.17% -0.70%
08/12/2015 0.12% -0.65%
09/12/2015 -2.24% -0.77%
10/12/2015 0.31% 0.23%
11/12/2015 -2.02% -1.94%
14/12/2015 -0.63% 0.48%
15/12/2015 0.29% 1.06%
16/12/2015 0.81% 1.45%
17/12/2015 -1.68% -1.50%
18/12/2015 -1.39% -1.78%
21/12/2015 0.09% 0.78%
22/12/2015 5.09% 0.88%
23/12/2015 0.53% 1.24%
24/12/2015 -0.12% -0.16%
28/12/2015 0.12% -0.22%
29/12/2015 -0.15% 1.06%
30/12/2015 -1.06% -0.72%
31/12/2015 -1.44% -0.94%
04/01/2016 -2.48% -1.53%
05/01/2016 0.32% 0.20%
06/01/2016 -3.00% -1.31%
07/01/2016 -2.83% -2.37%
08/01/2016 1.34% -1.08%
11/01/2016 0.81% 0.09%
12/01/2016 1.84% 0.78%
13/01/2016 -6.30% -2.50%
14/01/2016 0.78% 1.67%
15/01/2016 -1.96% -2.16%
19/01/2016 -1.96% 0.05%
20/01/2016 2.45% -1.17%
21/01/2016 3.08% 0.52%
22/01/2016 1.31% 2.03%
25/01/2016 -3.75% -1.56%
26/01/2016 3.03% 1.41%
27/01/2016 -2.10% -1.09%
28/01/2016 -2.36% 0.55%
29/01/2016 3.50% 2.48%
01/02/2016 0.23% -0.04%
02/02/2016 -3.83% -1.87%
03/02/2016 0.54% 0.50%
04/02/2016 2.22% 0.15%
05/02/2016 -1.15% -1.85%
08/02/2016 -0.95% -1.42%
09/02/2016 2.24% -0.07%
10/02/2016 1.00% -0.02%
11/02/2016 0.34% -1.23%
12/02/2016 3.59% 1.95%
16/02/2016 1.97% 1.65%
17/02/2016 2.49% 1.65%
19/10/2015 -0.61% 0.03%
Resumen

Estadsticas de la regresin
Coeficiente de correlacin m0.7059479762
Coeficiente de determinaci 0.4983625452
R^2 ajustado 0.4963559954
Error tpico 0.0122480344
Observaciones 252

ANLISIS DE VARIANZA
Grados de libertad
Suma de cuadrados
Promedio de los cuadradosF
Regresin 1 0.03725875 0.03725875 248.36789
Residuos 250 0.03750359 0.00015001
Total 251 0.07476233

Coeficientes Error tpico Estadstico t Probabilidad

Intercepcin -0.0002509878 0.00077185 -0.32517683 0.74531921
Variable X 1 1.170250324 0.07425591 15.7596919 2.5165E-039

Alpha -0.0002509878
Beta 1.170250324
Valor crtico de F
2.5165E-039

Inferior 95% Superior 95%Inferior 95,0%

Superior 95,0%
-0.00177115 0.00126917 -0.00177115 0.00126917
1.02400342 1.31649723 1.02400342 1.31649723
 Marriot S&P500 Expected return
14/03/2016 0.02961243 -0.001261 -0.17%
15/03/2016 -0.00733117 -0.001837 -0.24%
16/03/2016 0.0117881 0.0056 0.63%
17/03/2016 0.00786075 0.006595 0.75%
18/03/2016 0.0189415 0.004406 0.49%
21/03/2016 -0.01175506 0.000986 0.09%
22/03/2016 -0.01908714 -0.000877 -0.13%
23/03/2016 -0.01861252 -0.006386 -0.77%
24/03/2016 -0.0137931 -0.000378 -0.07%
28/03/2016 0.03933566 0.000545 0.04%
29/03/2016 -0.00897112 0.008817 1.01%
Abnormal return
3.13%
-0.49%
0.55%
0.04%
1.40%
-1.27%
-1.78%
-1.09%
-1.31%
3.89%
-1.90%
 Value-Weighted Return-incl.
Date dividends
17/02/2015
18/02/2015 -1.34%
19/02/2015 -0.13%
20/02/2015 1.01%
23/02/2015 -1.01%
24/02/2015 0.45%
25/02/2015 0.51%
26/02/2015 -0.27%
27/02/2015 0.41%
02/03/2015 3.15%
03/03/2015 -0.19%
04/03/2015 -1.69%
05/03/2015 -0.23%
06/03/2015 -0.07%
09/03/2015 -0.07%
10/03/2015 -1.64%
11/03/2015 1.24%
12/03/2015 1.13%
13/03/2015 -0.53%
16/03/2015 0.92%
17/03/2015 0.60%
18/03/2015 1.40%
19/03/2015 0.42%
20/03/2015 1.07%
23/03/2015 0.62%
24/03/2015 -2.28%
25/03/2015 -1.60%
26/03/2015 3.85%
27/03/2015 0.53%
30/03/2015 -1.06%
31/03/2015 -0.98%
01/04/2015 0.55%
02/04/2015 0.15%
06/04/2015 0.95%
07/04/2015 -0.59%
08/04/2015 0.36%
09/04/2015 -0.53%
10/04/2015 0.13%
13/04/2015 -0.87%
14/04/2015 -0.50%
15/04/2015 -0.10%
16/04/2015 -0.78%
17/04/2015 -0.70%
20/04/2015 0.71%
21/04/2015 1.53%
22/04/2015 -0.26%
23/04/2015 -0.20%
24/04/2015 -0.25%
27/04/2015 -2.27%
28/04/2015 -0.54%
29/04/2015 8.33%
30/04/2015 -1.81%
01/05/2015 0.70%
04/05/2015 -0.43%
05/05/2015 -0.91%
06/05/2015 -0.48%
07/05/2015 0.82%
08/05/2015 1.07%
11/05/2015 -2.32%
12/05/2015 -0.80%
13/05/2015 -0.07%
14/05/2015 1.26%
15/05/2015 -0.08%
18/05/2015 0.52%
19/05/2015 0.39%
20/05/2015 -0.32%
21/05/2015 -0.60%
22/05/2015 -0.07%
26/05/2015 -1.04%
27/05/2015 0.73%
28/05/2015 -0.50%
29/05/2015 -1.58%
01/06/2015 -0.48%
02/06/2015 0.05%
03/06/2015 2.27%
04/06/2015 -0.07%
05/06/2015 0.85%
08/06/2015 -2.18%
09/06/2015 -0.65%
10/06/2015 -0.04%
11/06/2015 0.97%
12/06/2015 -0.92%
15/06/2015 -0.51%
16/06/2015 0.59%
17/06/2015 -0.41%
18/06/2015 1.09%
19/06/2015 -0.36%
22/06/2015 0.41%
23/06/2015 -0.18%
24/06/2015 -0.35%
25/06/2015 -0.21%
26/06/2015 0.57%
29/06/2015 -2.59%
30/06/2015 0.67%
01/07/2015 1.12%
02/07/2015 0.33%
06/07/2015 -0.24%
07/07/2015 0.09%
08/07/2015 -1.90%
09/07/2015 -0.25%
10/07/2015 1.72%
13/07/2015 0.88%
14/07/2015 2.01%
15/07/2015 -0.05%
16/07/2015 0.89%
17/07/2015 0.91%
20/07/2015 -0.97%
21/07/2015 -0.65%
22/07/2015 0.75%
23/07/2015 -2.55%
24/07/2015 -1.35%
27/07/2015 -2.06%
28/07/2015 0.99%
29/07/2015 2.42%
30/07/2015 -5.38%
31/07/2015 1.61%
03/08/2015 -1.42%
04/08/2015 -0.17%
05/08/2015 -1.75%
06/08/2015 -1.20%
07/08/2015 0.62%
10/08/2015 1.13%
11/08/2015 -1.07%
12/08/2015 -0.76%
13/08/2015 -0.07%
14/08/2015 -0.51%
17/08/2015 2.75%
18/08/2015 -0.77%
19/08/2015 0.13%
20/08/2015 -2.81%
21/08/2015 -2.18%
24/08/2015 -4.40%
25/08/2015 -0.47%
26/08/2015 2.11%
27/08/2015 2.22%
28/08/2015 0.85%
31/08/2015 -2.48%
01/09/2015 -3.67%
02/09/2015 1.96%
03/09/2015 1.21%
04/09/2015 -0.89%
08/09/2015 2.71%
09/09/2015 0.21%
10/09/2015 -0.28%
11/09/2015 2.49%
14/09/2015 0.20%
15/09/2015 0.31%
16/09/2015 0.08%
17/09/2015 -0.65%
18/09/2015 -3.15%
21/09/2015 -0.17%
22/09/2015 -1.76%
23/09/2015 -0.86%
24/09/2015 -1.54%
25/09/2015 0.13%
28/09/2015 -4.71%
29/09/2015 -0.98%
30/09/2015 3.02%
01/10/2015 1.44%
02/10/2015 0.89%
05/10/2015 2.41%
06/10/2015 -0.98%
07/10/2015 1.90%
08/10/2015 1.34%
09/10/2015 -1.02%
12/10/2015 -0.27%
13/10/2015 -1.71%
14/10/2015 -2.55%
15/10/2015 0.85%
16/10/2015 -0.68%
19/10/2015 0.21%
20/10/2015 2.99%
21/10/2015 -2.37%
22/10/2015 2.94%
23/10/2015 -3.40%
26/10/2015 1.39%
27/10/2015 9.13%
28/10/2015 6.27%
29/10/2015 -0.78%
30/10/2015 1.26%
02/11/2015 -1.49%
03/11/2015 -1.09%
04/11/2015 -0.18%
05/11/2015 0.09%
06/11/2015 0.00%
09/11/2015 -1.05%
10/11/2015 0.29%
11/11/2015 -0.82%
12/11/2015 -0.64%
13/11/2015 -1.37%
16/11/2015 -3.63%
17/11/2015 -0.91%
18/11/2015 0.66%
19/11/2015 0.19%
20/11/2015 1.23%
23/11/2015 -1.00%
24/11/2015 -0.79%
25/11/2015 0.81%
27/11/2015 0.17%
30/11/2015 -0.92%
01/12/2015 1.39%
02/12/2015 -1.43%
03/12/2015 -3.89%
04/12/2015 2.65%
07/12/2015 -1.53%
08/12/2015 0.09%
09/12/2015 -1.22%
10/12/2015 0.66%
11/12/2015 -1.40%
14/12/2015 -0.65%
15/12/2015 0.46%
16/12/2015 0.40%
17/12/2015 -1.86%
18/12/2015 -1.28%
21/12/2015 0.09%
22/12/2015 4.81%
23/12/2015 1.21%
24/12/2015 -0.46%
28/12/2015 0.50%
29/12/2015 0.97%
30/12/2015 -1.06%
31/12/2015 -1.20%
04/01/2016 -2.17%
05/01/2016 0.35%
06/01/2016 -3.63%
07/01/2016 -3.65%
08/01/2016 0.81%
11/01/2016 0.66%
12/01/2016 1.19%
13/01/2016 -6.15%
14/01/2016 0.54%
15/01/2016 -2.24%
19/01/2016 -1.12%
20/01/2016 1.40%
21/01/2016 3.05%
22/01/2016 1.91%
25/01/2016 -3.94%
26/01/2016 2.94%
27/01/2016 -1.35%
28/01/2016 -1.84%
29/01/2016 3.18%
01/02/2016 0.93%
02/02/2016 -3.66%
03/02/2016 0.64%
04/02/2016 1.84%
05/02/2016 -1.64%
08/02/2016 -1.52%
09/02/2016 1.86%
10/02/2016 1.36%
11/02/2016 0.13%
12/02/2016 3.06%
16/02/2016 1.61%
17/02/2016 2.94%
Return on the S&P 500
Index
0.16%
-0.03% Resumen
-0.11%
0.61% Estadsticas de la regresin
-0.03% Coeficiente de c 0.5945038707
0.28% Coeficiente de 0.3534348523
-0.08% R^2 ajustado 0.3508485917
-0.15% Error tpico 0.0148873313
-0.30% Observaciones 252
0.61%
-0.45% ANLISIS DE VARIANZA
-0.44% Grados de libertad
0.12% Regresin 1
-1.42% Residuos 250
0.39% Total 251
-1.70%
-0.19% Coeficientes
1.26% Intercepcin -0.0001875265
-0.61% Variable X 1 1.0551156125
1.35%
-0.33%
1.22%
-0.49% Alpha -0.0001875265
0.90% Beta 1.0551156125
-0.17%
-0.61%
-1.46%
-0.24%
0.24%
1.22%
-0.88%
-0.40%
0.35%
0.66%
-0.21%
0.27%
0.45%
0.52%
-0.46%
0.16%
0.51%
-0.08%
-1.13%
0.92%
-0.15%
0.51%
 0.24%
0.23%
-0.41%
0.28%
-0.37%
-1.01%
1.09%
0.29%
-1.18%
-0.45%
0.38%
1.35%
-0.51%
-0.30%
-0.03%
1.08%
0.08%
0.30%
-0.06%
-0.09%
0.23%
-0.22%
-1.03%
0.92%
-0.13%
-0.63%
0.21%
-0.10%
0.21%
-0.86%
-0.14%
-0.65%
0.04%
1.20%
0.17%
-0.70%
-0.46%
0.57%
0.20%
0.99%
-0.53%
0.61%
0.06%
-0.74%
-0.30%
-0.04%
-2.09%
0.27%
 0.69%
-0.03%
-0.39%
0.61%
-1.67%
0.23%
1.23%
1.11%
0.45%
-0.07%
0.80%
0.11%
0.08%
-0.43%
-0.24%
-0.57%
-1.07%
-0.58%
1.24%
0.73%
0.00%
-0.23%
-0.28%
-0.23%
0.31%
-0.78%
-0.29%
1.28%
-0.96%
0.10%
-0.13%
0.39%
0.52%
-0.26%
-0.83%
-2.11%
-3.19%
-3.94%
-1.35%
3.90%
2.43%
0.06%
-0.84%
-2.96%
1.83%
0.12%
-1.53%
2.51%
-1.39%
0.53%
0.45%
-0.41%
1.28%
0.87%
-0.26%
-1.62%
0.46%
-1.23%
-0.20%
-0.34%
-0.05%
-2.57%
0.12%
1.91%
0.20%
1.43%
1.83%
-0.36%
0.80%
0.88%
0.07%
0.13%
-0.68%
-0.47%
1.49%
0.46%
0.03%
-0.14%
-0.58%
1.66%
1.10%
-0.19%
-0.26%
1.18%
-0.05%
-0.48%
1.19%
0.27%
-0.35%
-0.11%
-0.03%
-0.98%
0.15%
-0.32%
-1.40%
-1.12%
 1.49%
-0.13%
1.62%
-0.11%
0.38%
-0.12%
0.12%
-0.01%
0.06%
-0.46%
1.07%
-1.10%
-1.44%
2.05%
-0.70%
-0.65%
-0.77%
0.23%
-1.94%
0.48%
1.06%
1.45%
-1.50%
-1.78%
0.78%
0.88%
1.24%
-0.16%
-0.22%
1.06%
-0.72%
-0.94%
-1.53%
0.20%
-1.31%
-2.37%
-1.08%
0.09%
0.78%
-2.50%
1.67%
-2.16%
0.05%
-1.17%
0.52%
2.03%
-1.56%
1.41%
-1.09%
0.55%
2.48%
-0.04%
-1.87%
0.50%
0.15%
-1.85%
-1.42%
-0.07%
-0.02%
-1.23%
1.95%
1.65%
1.65%
Suma de cuadrados
Promedio de los cuadrados F Valor crtico de F
0.0302880141 0.0302880141 136.65863893 1.785745E-025
0.0554081584 0.0002216326
0.0856961725

Error tpico Estadstico t Probabilidad Inferior 95% Superior 95%

0.000938174 -0.1998845527 0.8417333641 -0.0020352587 0.0016602057
0.0902571267 11.690108594 1.785745E-025 0.8773543465 1.2328768786
 Starwood S&P
14/03/2016 7.82% -0.13%
15/03/2016 0.29% -0.18%
16/03/2016 -0.08% 0.56%
17/03/2016 0.39% 0.66%
18/03/2016 5.47% 0.44%
21/03/2016 4.49% 0.10%
22/03/2016 -0.42% -0.09%
23/03/2016 -1.40% -0.64%
24/03/2016 -0.65% -0.04%
28/03/2016 1.97% 0.05%
29/03/2016 -0.23% 0.88%

Inferior 95,0%
Superior 95,0%
-0.00203526 0.00166021
0.87735435 1.23287688
Expected retuAbnormal return
-0.15% 7.98%
-0.21% 0.50%
0.57% -0.65%
0.68% -0.28%
0.45% 5.03%
0.09% 4.41%
-0.11% -0.30%
-0.69% -0.70%
-0.06% -0.59%
0.04% 1.93%
0.91% -1.14%
Date Marriott Return S&P Return Expected return Abnormal return
9/26/2016
9/27/2016 -0.15% 0.64% 0.71% -0.86%
9/28/2016 0.49% 0.53% 0.58% -0.09%
9/29/2016 -0.42% -0.93% -1.08% 0.67%
9/30/2016 0.34% 0.80% 0.88% -0.54%
10/3/2016 0.18% -0.33% -0.39% 0.57%
10/4/2016 -0.50% -0.50% -0.59% 0.08%
10/5/2016 0.54% 0.43% 0.47% 0.07%
10/6/2016 0.06% 0.05% 0.03% 0.03%
10/7/2016 -0.55% -0.33% -0.39% -0.15%
10/10/2016 0.37% 0.46% 0.50% -0.13%
10/11/2016 -1.16% -1.24% -1.44% 0.28%
10/12/2016 0.45% 0.11% 0.11% 0.34%
10/13/2016 0.54% -0.31% -0.38% 0.91%
10/14/2016 0.27% 0.02% 0.00% 0.27%
10/17/2016 -0.79% -0.30% -0.37% -0.42%
10/18/2016 1.36% 0.62% 0.68% 0.68%
10/19/2016 0.19% 0.22% 0.23% -0.03%
10/20/2016 -0.82% -0.14% -0.18% -0.64%
10/21/2016 -0.39% -0.01% -0.03% -0.35%
10/24/2016 0.36% 0.47% 0.52% -0.16%
10/25/2016 -0.25% -0.38% -0.46% 0.20%
10/26/2016 -0.77% -0.17% -0.22% -0.55%
10/27/2016 0.34% -0.30% -0.36% 0.71%
10/28/2016 0.78% -0.31% -0.38% 1.15%
10/31/2016 1.87% -0.01% -0.04% 1.91%
11/1/2016 -0.55% -0.68% -0.80% 0.24%
11/2/2016 0.12% -0.65% -0.77% 0.88%
11/3/2016 1.23% -0.44% -0.53% 1.75%
11/4/2016 0.53% -0.17% -0.21% 0.75%
11/7/2016 2.14% 2.22% 2.50% -0.36%
11/8/2016 2.70% 0.38% 0.41% 2.29%
11/9/2016 1.45% 1.11% 1.24% 0.21%
11/10/2016 -0.89% 0.20% 0.20% -1.09%
11/11/2016 -0.04% -0.14% -0.18% 0.14%
11/14/2016 5.25% -0.01% -0.04% 5.28%
11/15/2016 0.61% 0.75% 0.83% -0.22%
11/16/2016 -0.18% -0.16% -0.20% 0.02%
11/17/2016 -0.13% 0.47% 0.51% -0.64%
11/18/2016 -0.43% -0.24% -0.29% -0.13%
11/21/2016 0.58% 0.75% 0.83% -0.24%
11/22/2016 0.72% 0.22% 0.22% 0.50%
11/23/2016 0.30% 0.08% 0.07% 0.23%
11/25/2016 0.56% 0.39% 0.42% 0.14%
11/28/2016 -0.57% -0.53% -0.62% 0.05%
11/29/2016 1.33% 0.13% 0.13% 1.20%
11/30/2016 -0.42% -0.27% -0.33% -0.09%
 12/1/2016 1.32% -0.35% -0.42% 1.74%
12/2/2016 -0.78% 0.04% 0.02% -0.80%
12/5/2016 2.27% 0.58% 0.64% 1.63%
12/6/2016 1.33% 0.34% 0.36% 0.97%
12/7/2016 2.24% 1.32% 1.47% 0.77%
12/8/2016 -0.51% 0.22% 0.22% -0.73%
12/9/2016 0.07% 0.59% 0.65% -0.58%
12/12/2016 0.43% -0.11% -0.15% 0.58%
12/13/2016 0.58% 0.65% 0.72% -0.14%
12/14/2016 -0.55% -0.81% -0.95% 0.40%
12/15/2016 0.46% 0.39% 0.42% 0.05%
12/16/2016 2.04% -0.18% -0.22% 2.26%
12/19/2016 -1.38% 0.20% 0.20% -1.58%
12/20/2016 0.28% 0.36% 0.39% -0.11%
12/21/2016 -0.29% -0.25% -0.30% 0.01%
12/22/2016 -1.32% -0.19% -0.24% -1.08%
12/23/2016 0.43% 0.13% 0.12% 0.31%
12/27/2016 0.06% 0.22% 0.23% -0.17%
12/28/2016 -0.93% -0.84% -0.97% 0.05%
12/29/2016 -0.05% -0.03% -0.06% 0.01%
12/30/2016 -0.77% -0.46% -0.55% -0.22%
1/3/2017 -0.22% 0.85% 0.94% -1.16%
1/4/2017 -0.19% 0.57% 0.63% -0.82%
1/5/2017 -0.68% -0.08% -0.11% -0.57%
1/6/2017 0.64% 0.35% 0.38% 0.26%
1/9/2017 -0.06% -0.35% -0.43% 0.37%
1/10/2017 -0.39% 0.00% -0.02% -0.37%
1/11/2017 1.11% 0.28% 0.30% 0.81%
1/12/2017 -1.15% -0.21% -0.27% -0.88%
1/13/2017 0.92% 0.18% 0.19% 0.73%
1/17/2017 -0.31% -0.30% -0.36% 0.05%
1/18/2017 0.75% 0.18% 0.18% 0.58%
1/19/2017 1.84% -0.36% -0.43% 2.28%
1/20/2017 -0.18% 0.34% 0.36% -0.54%
1/23/2017 -0.01% -0.27% -0.33% 0.32%
1/24/2017 0.17% 0.66% 0.72% -0.56%
1/25/2017 1.30% 0.80% 0.89% 0.41%
1/26/2017 0.27% -0.07% -0.11% 0.38%
1/27/2017 0.28% -0.09% -0.12% 0.40%
1/30/2017 -0.95% -0.60% -0.71% -0.25%
1/31/2017 -0.77% -0.09% -0.12% -0.65%
2/1/2017 0.05% 0.03% 0.01% 0.04%
2/2/2017 -0.17% 0.06% 0.04% -0.21%
2/3/2017 1.12% 0.73% 0.80% 0.32%
2/6/2017 0.23% -0.21% -0.26% 0.50%
2/7/2017 0.19% 0.02% 0.00% 0.18%
2/8/2017 0.64% 0.07% 0.06% 0.59%
2/9/2017 0.50% 0.58% 0.63% -0.13%
2/10/2017 -0.39% 0.36% 0.38% -0.77%
2/13/2017 1.08% 0.52% 0.57% 0.50%
2/14/2017 0.58% 0.40% 0.43% 0.15%
2/15/2017 1.79% 0.50% 0.54% 1.24%
2/16/2017 -0.02% -0.09% -0.12% 0.10%
2/17/2017 -0.09% 0.17% 0.17% -0.26%
2/21/2017 -1.53% 0.60% 0.66% -2.20%
2/22/2017 -0.01% -0.11% -0.15% 0.14%
2/23/2017 -0.78% 0.04% 0.02% -0.80%
2/24/2017 0.09% 0.15% 0.15% -0.05%
2/27/2017 0.42% 0.10% 0.09% 0.33%
2/28/2017 -0.53% -0.26% -0.32% -0.21%
3/1/2017 1.72% 1.37% 1.53% 0.19%
3/2/2017 -1.10% -0.59% -0.69% -0.41%
3/3/2017 -0.83% 0.05% 0.03% -0.87%
3/6/2017 -0.08% -0.33% -0.40% 0.32%
3/7/2017 -0.66% -0.29% -0.35% -0.30%
3/8/2017 0.28% -0.23% -0.28% 0.56%
3/9/2017 -0.09% 0.08% 0.07% -0.16%
3/10/2017 0.36% 0.33% 0.35% 0.01%
3/13/2017 0.47% 0.04% 0.02% 0.45%
3/14/2017 -0.87% -0.34% -0.41% -0.47%
3/15/2017 1.80% 0.84% 0.93% 0.87%
3/16/2017 0.27% -0.16% -0.21% 0.48%
3/17/2017 0.31% -0.13% -0.17% 0.48%
3/20/2017 0.40% -0.20% -0.25% 0.65%
3/21/2017 0.47% -1.24% -1.43% 1.91%
3/22/2017 3.41% 0.19% 0.19% 3.22%
3/23/2017 1.09% -0.11% -0.14% 1.23%
3/24/2017 0.39% -0.08% -0.12% 0.51%
3/27/2017 -0.35% -0.10% -0.14% -0.21%
3/28/2017 1.42% 0.73% 0.80% 0.62%
3/29/2017 0.11% 0.11% 0.10% 0.01%
3/30/2017 0.05% 0.29% 0.31% -0.26%
3/31/2017 -0.49% -0.23% -0.28% -0.21%
4/3/2017 -1.52% -0.16% -0.21% -1.31%
4/4/2017 -0.30% 0.06% 0.04% -0.34%
4/5/2017 -0.55% -0.31% -0.37% -0.18%
4/6/2017 -0.21% 0.19% 0.20% -0.40%
4/7/2017 -0.61% -0.08% -0.12% -0.49%
4/10/2017 -0.16% 0.07% 0.05% -0.22%
4/11/2017 0.37% -0.14% -0.19% 0.56%
4/12/2017 0.38% -0.38% -0.45% 0.83%
4/13/2017 -0.22% -0.68% -0.80% 0.58%
4/17/2017 0.44% 0.86% 0.96% -0.52%
4/18/2017 0.08% -0.29% -0.35% 0.43%
4/19/2017 -0.58% -0.17% -0.22% -0.36%
4/20/2017 1.40% 0.76% 0.84% 0.56%
4/21/2017 -0.32% -0.30% -0.37% 0.05%
4/24/2017 1.14% 1.08% 1.21% -0.07%
4/25/2017 1.12% 0.61% 0.67% 0.45%
4/26/2017 1.83% -0.05% -0.08% 1.91%
4/27/2017 -0.58% 0.06% 0.04% -0.62%
4/28/2017 -1.38% -0.19% -0.24% -1.14%
5/1/2017 1.23% 0.17% 0.17% 1.05%
5/2/2017 1.59% 0.12% 0.11% 1.48%
5/3/2017 -0.11% -0.13% -0.17% 0.05%
5/4/2017 -0.11% 0.06% 0.04% -0.16%
5/5/2017 0.18% 0.41% 0.44% -0.27%
5/8/2017 -0.70% 0.00% -0.02% -0.68%
5/9/2017 6.36% -0.10% -0.14% 6.50%
5/10/2017 0.72% 0.11% 0.11% 0.62%
5/11/2017 -0.41% -0.22% -0.27% -0.14%
5/12/2017 -0.36% -0.15% -0.19% -0.17%
5/15/2017 1.57% 0.48% 0.52% 1.05%
5/16/2017 -0.07% -0.07% -0.10% 0.03%
5/17/2017 -1.49% -1.82% -2.09% 0.60%
5/18/2017 0.41% 0.37% 0.40% 0.02%
5/19/2017 0.28% 0.68% 0.75% -0.46%
5/22/2017 1.36% 0.52% 0.56% 0.80%
5/23/2017 1.22% 0.18% 0.19% 1.03%
5/24/2017 0.37% 0.25% 0.26% 0.11%
5/25/2017 0.61% 0.44% 0.48% 0.13%
5/26/2017 0.35% 0.03% 0.01% 0.34%
5/30/2017 -0.15% -0.12% -0.16% 0.01%
5/31/2017 0.85% -0.05% -0.08% 0.93%
 Sales 2015 M$ Weight
Marriott 14486 71.5%
Starwood 5763 28.5%

Beta new company 1.1374822198

Alpha new company -0.0002329263

Average abnormal return 0.23%