This document provides stock price data for 8 companies (TSLA, AMZN, WMT, AAPL, F, DIS, IBM, MSFT) from July 2010 to December 2016 in a table with the adjusted closing price for each stock listed for each month. The data will be used for a project analyzing the efficient frontier for a portfolio of these stocks.

1. A Project on Efficient Frontier
Course: FIN 435.4
Submitted To
Hasan A. Mamun
Lecturer,
Department of Accounting and Finance,
North South University
Submitted By
Group Name: Versatile
Name ID
Shuvonkor Karmokar 1420032030
Rifat Hossain Khan 1411038030
Shad Bin Abdur Rahim 1420357030
Sumaiya Fairuz Nabony 1420035030
Md. Ahsan Habib 1410894030

2. Adj. Close of 8 stocks
Date TSLA AMZN WMT AAPL F DIS IBM MSFT
7/1/2010 19.940001 117.889999 41.68219 24.782591 9.909596 29.934021 101.845139 20.975563
8/1/2010 19.48 124.830002 40.827221 23.41943 8.761108 28.912231 97.66507 19.073872
9/1/2010 20.41 157.059998 43.83334 27.335506 9.498313 29.4098 106.925247 20.008986
10/1/2010 21.84 165.229996 44.3657 28.995392 10.96497 32.101997 114.465996 21.790096
11/1/2010 35.330002 175.399994 44.30019 29.975128 12.36954 32.439632 112.76017 20.638094
12/1/2010 26.629999 180 44.169132 31.074341 13.02914 33.328144 117.504761 22.943321
1/1/2011 24.1 169.639999 46.175365 32.688938 12.3773 34.91428 129.706772 22.795359
2/1/2011 23.889999 173.289993 42.807129 34.027054 11.67889 39.288673 129.610672 21.850006
3/1/2011 27.75 180.130005 42.864784 33.574268 11.57025 38.704819 131.080399 20.995131
4/1/2011 27.6 195.809998 45.595074 33.730331 12.00482 38.713802 137.117188 21.433393
5/1/2011 30.139999 196.690002 45.794102 33.508747 11.57801 37.393402 135.790848 20.680908
6/1/2011 29.129999 204.490005 44.360744 32.337299 10.70112 35.066986 138.51358 21.640469
7/1/2011 28.17 222.520004 44.001778 37.617512 9.475034 34.68972 146.830017 22.805725
8/1/2011 24.74 215.229996 44.402481 37.073219 8.629189 30.593792 138.80423 22.139864
9/1/2011 24.389999 216.229996 43.639019 36.735069 7.503978 27.090679 141.809082 20.847342
10/1/2011 29.370001 213.509995 47.691833 38.995125 9.06375 31.330339 149.723816 22.304728
11/1/2011 32.740002 192.289993 49.52483 36.819851 8.225663 32.201622 152.456711 21.42527
12/1/2011 28.559999 173.100006 50.24794 39.016331 8.349827 33.683708 149.715088 21.90728
1/1/2012 29.07 194.440002 51.915653 43.975723 9.637997 35.527985 156.814896 24.919954
2/1/2012 33.41 179.690002 49.986584 52.256821 9.644658 38.350124 160.177521 26.784946
3/1/2012 37.240002 202.509995 51.780273 57.758598 9.722564 39.984959 170.544327 27.402985
4/1/2012 33.130001 231.899994 50.175938 56.258648 8.787702 39.373043 169.261063 27.199123
5/1/2012 29.5 212.910004 56.061443 55.656551 8.262399 41.747662 157.6707 24.795202
6/1/2012 31.290001 228.350006 59.785698 56.260563 7.503447 44.295807 160.530975 26.154917
7/1/2012 27.42 233.300003 63.824551 58.838543 7.229598 44.880329 160.859329 25.197304
8/1/2012 28.52 248.270004 62.25531 64.086952 7.307839 45.181721 159.931824 26.351578
9/1/2012 29.280001 254.320007 63.626152 66.248718 7.756674 47.74815 171.000839 25.613823
10/1/2012 28.129999 232.889999 64.677956 59.120358 8.779359 44.862072 160.350861 24.563795
11/1/2012 33.82 252.050003 62.091534 58.123276 9.051181 45.355263 156.674515 22.911293
12/1/2012 33.869999 250.869995 58.824013 54.586288 10.23693 45.473991 158.58551 23.177652

3. Adj. Close of 8 stocks
Date TSLA AMZN WMT AAPL F DIS IBM MSFT
1/1/2013 37.509998 265.5 60.641113 46.720993 10.23693 49.96513 168.122955 23.81979
2/1/2013 34.830002 264.269989 61.360676 45.275745 10.04156 50.623535 166.268494 24.123507
3/1/2013 37.889999 266.48999 64.871719 47.324455 10.47157 52.672958 177.33577 25.031931
4/1/2013 53.990002 253.809998 67.811798 47.337276 10.91751 58.274101 168.389999 28.960394
5/1/2013 97.760002 269.200012 65.298958 48.080299 12.48626 58.496662 172.946045 30.535282
6/1/2013 107.360001 277.690002 65.383408 44.438164 12.40954 58.561577 159.631943 30.432215
7/1/2013 134.279999 301.220001 68.411636 50.713947 13.5406 59.952587 162.914627 28.053324
8/1/2013 169 280.980011 64.058014 54.601574 13.06359 56.410145 152.247971 29.427794
9/1/2013 193.369995 312.640015 65.312408 55.999493 13.61227 59.804211 155.451874 29.528688
10/1/2013 159.940002 364.029999 67.776199 61.396824 13.80593 63.606297 150.440308 31.4186
11/1/2013 127.279999 393.619995 71.538116 65.316475 13.86043 65.414627 150.834839 33.832001
12/1/2013 150.429993 398.790009 69.48938 68.688881 12.52145 70.848839 158.303802 33.444885
1/1/2014 181.410004 358.690002 66.33213 61.291309 12.14005 68.165497 149.112961 33.829311
2/1/2014 244.809998 362.100006 66.349876 64.43058 12.5891 75.863579 156.278259 34.249496
3/1/2014 208.449997 336.369995 67.886513 68.572273 12.76088 75.168869 163.346741 36.920242
4/1/2014 207.889999 304.130005 71.25663 75.3881 13.21078 74.483551 166.724167 36.388817
5/1/2014 207.770004 312.549988 68.628426 80.870155 13.5531 78.867714 156.447678 36.875202
6/1/2014 240.059998 324.779999 67.524185 86.469116 14.21261 80.491814 154.721115 37.824715
7/1/2014 223.300003 312.98999 66.183952 88.953499 14.03125 80.62323 163.5979 39.149036
8/1/2014 269.700012 339.040009 67.910957 95.373772 14.45561 84.378395 164.135635 41.208073
9/1/2014 242.679993 322.440002 69.236626 94.211754 12.28021 83.580429 162.985626 42.314297
10/1/2014 241.699997 305.459991 69.055511 100.991234 11.699 85.786575 141.151749 42.852802
11/1/2014 244.520004 338.640015 79.259499 111.211929 13.17702 86.847427 139.237122 43.63776
12/1/2014 222.410004 310.350006 77.756493 103.664352 12.98435 88.424591 138.69455 42.663837
1/1/2015 203.600006 354.529999 77.371483 110.03186 12.32256 86.477623 132.530914 37.106987
2/1/2015 203.339996 380.160004 76.415489 120.644371 13.82769 98.951096 139.991272 40.275764
3/1/2015 188.770004 372.100006 74.885902 117.32074 13.65844 99.721176 139.719696 37.611565
4/1/2015 226.050003 421.779999 71.48877 117.999596 13.37071 103.362442 149.112686 44.993267
5/1/2015 250.800003 429.230011 68.026535 122.836502 12.95861 104.931137 147.685028 43.346725
6/1/2015 268.26001 434.089996 65.377335 118.757591 12.82194 108.515358 143.770752 41.10532

4. Adj. Close of 8 stocks
Date TSLA AMZN WMT AAPL F DIS IBM MSFT
7/1/2015 266.149994 536.150024 66.345139 114.847298 12.66818 114.086578 143.178543 43.479465
8/1/2015 249.059998 512.890015 59.662697 106.913086 11.96918 97.422836 130.715927 40.518764
9/1/2015 248.399994 511.890015 60.172169 104.905174 11.71029 97.728836 129.198746 41.479473
10/1/2015 206.929993 625.900024 53.119293 113.655197 12.78036 108.763962 124.840721 49.333019
11/1/2015 230.259995 664.799988 54.604107 112.513885 12.49198 108.505791 124.252518 50.935589
12/1/2015 240.009995 675.890015 56.887009 100.540207 12.28277 100.482841 123.798798 52.345066
1/1/2016 191.199997 587 62.098557 92.975334 10.40853 92.215317 112.257324 51.977104
2/1/2016 191.929993 552.52002 62.079849 92.354485 11.0405 91.926598 117.870628 48.004986
3/1/2016 229.770004 593.640015 64.091789 104.667839 11.91421 95.57402 137.631485 52.48333
4/1/2016 240.759995 659.590027 63.03907 90.022591 11.96716 99.375435 132.624237 47.389889
5/1/2016 223.229996 722.789978 66.725052 95.89991 12.0367 95.487404 139.712555 50.364227
6/1/2016 212.279999 715.619995 69.340729 92.367805 11.21581 94.140076 140.598862 48.965343
7/1/2016 234.789993 758.809998 69.293259 100.686714 11.29611 92.340416 148.787659 54.237942
8/1/2016 212.009995 769.159973 67.84034 102.51281 11.36585 91.566833 147.175842 54.984337
9/1/2016 204.029999 837.309998 68.954903 109.81955 10.88776 90.015846 148.418915 55.461845
10/1/2016 197.729996 789.820007 66.947067 110.29554 10.59008 89.851051 143.597733 57.695721
11/1/2016 189.399994 750.570007 67.339088 107.361847 10.92295 96.084122 151.567627 58.023098
12/1/2016 213.690002 768.659973 66.086578 113.088043 11.07821 101.027901 156.49704 60.237511
1/1/2017 251.929993 823.47998 64.267723 118.487602 11.28826 108.087601 164.539215 62.670673
2/1/2017 249.990005 845.039978 68.302513 133.758713 11.58128 107.540565 169.536102 62.021183
3/1/2017 278.299988 886.539978 69.409912 140.879517 10.75867 110.764145 165.479111 64.230675
4/1/2017 314.070007 924.98999 72.927391 140.869705 10.60154 112.922974 152.317963 66.76635
5/1/2017 341.01001 994.619995 76.244934 149.803391 10.41656 105.440361 145.03894 68.112213
6/1/2017 361.609985 968 73.903694 141.815506 10.48213 103.78949 147.607239 67.610054
7/1/2017 323.470001 987.780029 78.112534 146.4534 10.51024 107.38427 138.817764 71.307861
8/1/2017 355.899994 980.599976 76.237595 161.48967 10.46494 99.591843 137.24411 73.338219
9/1/2017 341.100006 961.349976 76.785919 152.356857 11.35679 97.003639 140.682037 73.452858
10/1/2017 331.529999 1105.280029 85.797005 167.106186 11.64142 96.255714 149.389816 82.021866
11/1/2017 308.850006 1176.75 95.545113 169.884033 12.02611 103.154327 149.302551 82.998085
12/1/2017 311.350006 1169.469971 97.038773 167.895416 11.9973 105.801582 150.25621 84.772621

5. Adj. Close of 8 stocks
Date TSLA AMZN WMT AAPL F DIS IBM MSFT
1/1/2018 354.309998 1450.890015 105.304802 166.109604 10.53726 107.803444 160.324219 94.157661
2/1/2018 343.059998 1512.449951 88.916382 176.715302 10.32439 102.337387 152.616516 92.928787
3/1/2018 266.130005 1447.339966 87.889015 167.135513 10.78174 99.639076 151.745483 90.876106
4/1/2018 293.899994 1566.130005 87.906197 164.625183 10.93743 99.529953 143.368484 93.116394
5/1/2018 284.730011 1629.619995 82.023254 186.152176 11.38988 98.676804 139.75856 98.413437
6/1/2018 342.950012 1699.800049 85.650002 185.110001 10.91653 103.97422 139.699997 98.610001

6. Return
Date TSLA AMZN WMT AAPL F DIS IBM MSFT
7/1/2010
8/1/2010 -2.31% 5.89% -2.05% -5.50% -11.59% -3.41% -4.10% -9.07%
9/1/2010 4.77% 25.82% 7.36% 16.72% 8.41% 1.72% 9.48% 4.90%
10/1/2010 7.01% 5.20% 1.21% 6.07% 15.44% 9.15% 7.05% 8.90%
11/1/2010 61.77% 6.16% -0.15% 3.38% 12.81% 1.05% -1.49% -5.29%
12/1/2010 -24.62% 2.62% -0.30% 3.67% 5.33% 2.74% 4.21% 11.17%
1/1/2011 -9.50% -5.76% 4.54% 5.20% -5.00% 4.76% 10.38% -0.64%
2/1/2011 -0.87% 2.15% -7.29% 4.09% -5.64% 12.53% -0.07% -4.15%
3/1/2011 16.16% 3.95% 0.13% -1.33% -0.93% -1.49% 1.13% -3.91%
4/1/2011 -0.54% 8.70% 6.37% 0.46% 3.76% 0.02% 4.61% 2.09%
5/1/2011 9.20% 0.45% 0.44% -0.66% -3.56% -3.41% -0.97% -3.51%
6/1/2011 -3.35% 3.97% -3.13% -3.50% -7.57% -6.22% 2.01% 4.64%
7/1/2011 -3.30% 8.82% -0.81% 16.33% -11.46% -1.08% 6.00% 5.38%
8/1/2011 -12.18% -3.28% 0.91% -1.45% -8.93% -11.81% -5.47% -2.92%
9/1/2011 -1.41% 0.46% -1.72% -0.91% -13.04% -11.45% 2.16% -5.84%
10/1/2011 20.42% -1.26% 9.29% 6.15% 20.79% 15.65% 5.58% 6.99%
11/1/2011 11.47% -9.94% 3.84% -5.58% -9.25% 2.78% 1.83% -3.94%
12/1/2011 -12.77% -9.98% 1.46% 5.97% 1.51% 4.60% -1.80% 2.25%
1/1/2012 1.79% 12.33% 3.32% 12.71% 15.43% 5.48% 4.74% 13.75%
2/1/2012 14.93% -7.59% -3.72% 18.83% 0.07% 7.94% 2.14% 7.48%
3/1/2012 11.46% 12.70% 3.59% 10.53% 0.81% 4.26% 6.47% 2.31%
4/1/2012 -11.04% 14.51% -3.10% -2.60% -9.62% -1.53% -0.75% -0.74%
5/1/2012 -10.96% -8.19% 11.73% -1.07% -5.98% 6.03% -6.85% -8.84%
6/1/2012 6.07% 7.25% 6.64% 1.09% -9.19% 6.10% 1.81% 5.48%
7/1/2012 -12.37% 2.17% 6.76% 4.58% -3.65% 1.32% 0.20% -3.66%
8/1/2012 4.01% 6.42% -2.46% 8.92% 1.08% 0.67% -0.58% 4.58%
9/1/2012 2.66% 2.44% 2.20% 3.37% 6.14% 5.68% 6.92% -2.80%
10/1/2012 -3.93% -8.43% 1.65% -10.76% 13.18% -6.04% -6.23% -4.10%
11/1/2012 20.23% 8.23% -4.00% -1.69% 3.10% 1.10% -2.29% -6.73%
12/1/2012 0.15% -0.47% -5.26% -6.09% 13.10% 0.26% 1.22% 1.16%
1/1/2013 10.75% 5.83% 3.09% -14.41% 0.00% 9.88% 6.01% 2.77%
2/1/2013 -7.14% -0.46% 1.19% -3.09% -1.91% 1.32% -1.10% 1.28%
3/1/2013 8.79% 0.84% 5.72% 4.52% 4.28% 4.05% 6.66% 3.77%
4/1/2013 42.49% -4.76% 4.53% 0.03% 4.26% 10.63% -5.04% 15.69%
5/1/2013 81.07% 6.06% -3.71% 1.57% 14.37% 0.38% 2.71% 5.44%
6/1/2013 9.82% 3.15% 0.13% -7.58% -0.61% 0.11% -7.70% -0.34%
7/1/2013 25.07% 8.47% 4.63% 14.12% 9.11% 2.38% 2.06% -7.82%
8/1/2013 25.86% -6.72% -6.36% 7.67% -3.52% -5.91% -6.55% 4.90%
9/1/2013 14.42% 11.27% 1.96% 2.56% 4.20% 6.02% 2.10% 0.34%
10/1/2013 -17.29% 16.44% 3.77% 9.64% 1.42% 6.36% -3.22% 6.40%
11/1/2013 -20.42% 8.13% 5.55% 6.38% 0.39% 2.84% 0.26% 7.68%

7. Return
Date TSLA AMZN WMT AAPL F DIS IBM MSFT
12/1/2013 18.19% 1.31% -2.86% 5.16% -9.66% 8.31% 4.95% -1.14%
1/1/2014 20.59% -10.06% -4.54% -10.77% -3.05% -3.79% -5.81% 1.15%
2/1/2014 34.95% 0.95% 0.03% 5.12% 3.70% 11.29% 4.81% 1.24%
3/1/2014 -14.85% -7.11% 2.32% 6.43% 1.36% -0.92% 4.52% 7.80%
4/1/2014 -0.27% -9.58% 4.96% 9.94% 3.53% -0.91% 2.07% -1.44%
5/1/2014 -0.06% 2.77% -3.69% 7.27% 2.59% 5.89% -6.16% 1.34%
6/1/2014 15.54% 3.91% -1.61% 6.92% 4.87% 2.06% -1.10% 2.57%
7/1/2014 -6.98% -3.63% -1.98% 2.87% -1.28% 0.16% 5.74% 3.50%
8/1/2014 20.78% 8.32% 2.61% 7.22% 3.02% 4.66% 0.33% 5.26%
9/1/2014 -10.02% -4.90% 1.95% -1.22% -15.05% -0.95% -0.70% 2.68%
10/1/2014 -0.40% -5.27% -0.26% 7.20% -4.73% 2.64% -13.40% 1.27%
11/1/2014 1.17% 10.86% 14.78% 10.12% 12.63% 1.24% -1.36% 1.83%
12/1/2014 -9.04% -8.35% -1.90% -6.79% -1.46% 1.82% -0.39% -2.23%
1/1/2015 -8.46% 14.24% -0.50% 6.14% -5.10% -2.20% -4.44% -13.02%
2/1/2015 -0.13% 7.23% -1.24% 9.64% 12.21% 14.42% 5.63% 8.54%
3/1/2015 -7.17% -2.12% -2.00% -2.75% -1.22% 0.78% -0.19% -6.61%
4/1/2015 19.75% 13.35% -4.54% 0.58% -2.11% 3.65% 6.72% 19.63%
5/1/2015 10.95% 1.77% -4.84% 4.10% -3.08% 1.52% -0.96% -3.66%
6/1/2015 6.96% 1.13% -3.89% -3.32% -1.05% 3.42% -2.65% -5.17%
7/1/2015 -0.79% 23.51% 1.48% -3.29% -1.20% 5.13% -0.41% 5.78%
8/1/2015 -6.42% -4.34% -10.07% -6.91% -5.52% -14.61% -8.70% -6.81%
9/1/2015 -0.26% -0.19% 0.85% -1.88% -2.16% 0.31% -1.16% 2.37%
10/1/2015 -16.69% 22.27% -11.72% 8.34% 9.14% 11.29% -3.37% 18.93%
11/1/2015 11.27% 6.22% 2.80% -1.00% -2.26% -0.24% -0.47% 3.25%
12/1/2015 4.23% 1.67% 4.18% -10.64% -1.67% -7.39% -0.37% 2.77%
1/1/2016 -20.34% -13.15% 9.16% -7.52% -15.26% -8.23% -9.32% -0.70%
2/1/2016 0.38% -5.87% -0.03% -0.67% 6.07% -0.31% 5.00% -7.64%
3/1/2016 19.72% 7.44% 3.24% 13.33% 7.91% 3.97% 16.76% 9.33%
4/1/2016 4.78% 11.11% -1.64% -13.99% 0.44% 3.98% -3.64% -9.70%
5/1/2016 -7.28% 9.58% 5.85% 6.53% 0.58% -3.91% 5.34% 6.28%
6/1/2016 -4.91% -0.99% 3.92% -3.68% -6.82% -1.41% 0.63% -2.78%
7/1/2016 10.60% 6.04% -0.07% 9.01% 0.72% -1.91% 5.82% 10.77%
8/1/2016 -9.70% 1.36% -2.10% 1.81% 0.62% -0.84% -1.08% 1.38%
9/1/2016 -3.76% 8.86% 1.64% 7.13% -4.21% -1.69% 0.84% 0.87%
10/1/2016 -3.09% -5.67% -2.91% 0.43% -2.73% -0.18% -3.25% 4.03%
11/1/2016 -4.21% -4.97% 0.59% -2.66% 3.14% 6.94% 5.55% 0.57%
12/1/2016 12.82% 2.41% -1.86% 5.33% 1.42% 5.15% 3.25% 3.82%
1/1/2017 17.90% 7.13% -2.75% 4.77% 1.90% 6.99% 5.14% 4.04%
2/1/2017 -0.77% 2.62% 6.28% 12.89% 2.60% -0.51% 3.04% -1.04%
3/1/2017 11.32% 4.91% 1.62% 5.32% -7.10% 3.00% -2.39% 3.56%
4/1/2017 12.85% 4.34% 5.07% -0.01% -1.46% 1.95% -7.95% 3.95%

8. Return
Date TSLA AMZN WMT AAPL F DIS IBM MSFT
5/1/2017 8.58% 7.53% 4.55% 6.34% -1.74% -6.63% -4.78% 2.02%
6/1/2017 6.04% -2.68% -3.07% -5.33% 0.63% -1.57% 1.77% -0.74%
7/1/2017 -10.55% 2.04% 5.70% 3.27% 0.27% 3.46% -5.95% 5.47%
8/1/2017 10.03% -0.73% -2.40% 10.27% -0.43% -7.26% -1.13% 2.85%
9/1/2017 -4.16% -1.96% 0.72% -5.66% 8.52% -2.60% 2.50% 0.16%
10/1/2017 -2.81% 14.97% 11.74% 9.68% 2.51% -0.77% 6.19% 11.67%
11/1/2017 -6.84% 6.47% 11.36% 1.66% 3.30% 7.17% -0.06% 1.19%
12/1/2017 0.81% -0.62% 1.56% -1.17% -0.24% 2.57% 0.64% 2.14%
1/1/2018 13.80% 24.06% 8.52% -1.06% -12.17% 1.89% 6.70% 11.07%
2/1/2018 -3.18% 4.24% -15.56% 6.38% -2.02% -5.07% -4.81% -1.31%
3/1/2018 -22.42% -4.30% -1.16% -5.42% 4.43% -2.64% -0.57% -2.21%
4/1/2018 10.43% 8.21% 0.02% -1.50% 1.44% -0.11% -5.52% 2.47%
5/1/2018 -3.12% 4.05% -6.69% 13.08% 4.14% -0.86% -2.52% 5.69%
6/1/2018 20.45% 4.31% 4.42% -0.56% -4.16% 5.37% -0.04% 0.20%
Mean(monthly) 4.13% 3.14% 0.88% 2.37% 0.34% 1.46% 0.45% 1.81%
Mean(Annually) 49.59% 37.68% 10.61% 28.40% 4.08% 17.56% 5.41% 21.76%
Variance 2.55% 0.61% 0.25% 0.46% 0.48% 0.29% 0.24% 0.35%
Std. Deviation 15.96% 7.82% 4.97% 6.80% 6.94% 5.38% 4.86% 5.92%
Covariance Matrix
Monthly
TSLA AMZN WMT AAPL F DIS IBM MSFT
TSLA 0.02546 0.001267 -0.00062 0.000766 0.003195 0.001721 0.000975 0.000751
AMZN 0.001267 0.00611 0.000374 0.001571 0.000816 0.000879 0.000994 0.001492
WMT -0.00062 0.000374 0.002465 0.000306 0.000241 0.000398 0.000505 0.000219
AAPL 0.000766 0.001571 0.000306 0.004621 0.001224 0.000931 0.001074 0.001501
F 0.003195 0.000816 0.000241 0.001224 0.004813 0.001433 0.000917 0.001073
DIS 0.001721 0.000879 0.000398 0.000931 0.001433 0.002891 0.000866 0.001042
IBM 0.000975 0.000994 0.000505 0.001074 0.000917 0.000866 0.002362 0.000919
MSFT 0.000751 0.001492 0.000219 0.001501 0.001073 0.001042 0.000919 0.003504
Yearly
TSLA AMZN WMT AAPL F DIS IBM MSFT
TSLA 0.305517 0.01521 -0.00741 0.009191 0.038344 0.020658 0.011704 0.009015
AMZN 0.01521 0.073318 0.004489 0.018853 0.009794 0.010542 0.011929 0.017904
WMT -0.00741 0.004489 0.029584 0.003677 0.002896 0.00478 0.006064 0.002629
AAPL 0.009191 0.018853 0.003677 0.055455 0.014687 0.011167 0.012891 0.018007
F 0.038344 0.009794 0.002896 0.014687 0.05776 0.017193 0.011 0.01288
DIS 0.020658 0.010542 0.00478 0.011167 0.017193 0.034689 0.010391 0.012508
IBM 0.011704 0.011929 0.006064 0.012891 0.011 0.010391 0.028348 0.011027
MSFT 0.009015 0.017904 0.002629 0.018007 0.01288 0.012508 0.011027 0.042047

9. Portfolio Optimization- Markowitz Method
TSLA (1) AMZN (2) WMT (3) AAPL (4) F (5) DIS (6) IBM (7) MSFT (8) Total
Weights 0.00% 0.00% 9.48% 0.00% 30.40% 0.00% 60.12% 0.00% 100.00%
Mean(Annually) 49.59% 37.68% 10.61% 28.40% 4.08% 17.56% 5.41% 21.76%
Covariance Matrix (Yearly)
TSLA AMZN WMT AAPL F DIS IBM MSFT
TSLA 0.30552 0.01521 -0.00741 0.00919 0.03834 0.02066 0.01170 0.00901
AMZN 0.01521 0.07332 0.00449 0.01885 0.00979 0.01054 0.01193 0.01790
WMT -0.00741 0.00449 0.02958 0.00368 0.00290 0.00478 0.00606 0.00263
AAPL 0.00919 0.01885 0.00368 0.05546 0.01469 0.01117 0.01289 0.01801
F 0.03834 0.00979 0.00290 0.01469 0.05776 0.01719 0.01100 0.01288
DIS 0.02066 0.01054 0.00478 0.01117 0.01719 0.03469 0.01039 0.01251
IBM 0.01170 0.01193 0.00606 0.01289 0.01100 0.01039 0.02835 0.01103
MSFT 0.00901 0.01790 0.00263 0.01801 0.01288 0.01251 0.01103 0.04205
Portfolio
Variance Terms 0.00% 0.00% 0.07% 0.00% 0.74% 0.00% 1.26% 0.00% Variance 0.02073
Std. Deviation14.40% Target
Return Terms 0.00% 0.00% 1.01% 0.00% 1.24% 0.00% 3.25% 0.00% Return 5.50% 5.50%
Temporary Output
Std. Deviation Return W1 W2 W3 W4 W5 W6 W7 W8
14.40% 5.50% 0.00% 0.00% 9.48% 0.00% 30.40% 0.00% 60.12% 0.00%
Output from solver for plotting the portfolio frontier
Std. Deviation Return W1 W2 W3 W4 W5 W6 W7 W8
24.03% 4.08% 0.00% 0.00% 0.00% 0.00% 100.00% 0.00% 0.00% 0.00%
14.40% 5.50% 0.00% 0.00% 9.49% 0.00% 30.40% 0.00% 60.11% 0.00%
13.58% 6.00% 0.00% 0.00% 18.25% 0.00% 27.05% 0.00% 54.70% 0.00%

10. 12.41% 7.50% 0.00% 0.00% 35.99% 0.00% 18.70% 3.55% 41.54% 0.22%
11.91% 9.00% 0.00% 0.00% 35.74% 0.00% 15.01% 8.19% 35.34% 5.73%
11.46% 12.00% 0.44% 1.55% 34.96% 3.27% 9.49% 13.37% 25.75% 11.16%
11.57% 18.00% 3.67% 8.54% 33.75% 9.83% 1.59% 16.36% 12.61% 13.64%
12.30% 22.00% 5.76% 14.07% 32.37% 14.37% 0.00% 17.05% 1.41% 14.98%
13.30% 25.00% 8.01% 20.54% 25.87% 18.04% 0.00% 13.64% 0.00% 13.90%
14.78% 28.00% 10.39% 27.38% 18.41% 21.75% 0.00% 9.59% 0.00% 12.47%
17.28% 32.00% 13.57% 36.50% 8.48% 26.69% 0.00% 4.16% 0.00% 10.61%
20.20% 36.00% 17.16% 46.53% 0.00% 30.95% 0.00% 0.00% 0.00% 5.36%
24.53% 40.00% 27.19% 62.90% 0.00% 9.91% 0.00% 0.00% 0.00% 0.00%
27.75% 42.00% 36.26% 63.74% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
36.53% 45.00% 61.45% 38.55% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
44.24% 47.00% 78.24% 21.76% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
55.27% 49.59% 99.99% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

11. 15.00%
20.00%
25.00%
30.00%
35.00%
40.00%
45.00%
50.00%
55.00%
10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% 45.00% 50.00% 55.00% 60.00%
ExpectedREturn
Standard Deviation
Efficient Frontier

12. About the Project
At first, we searched different companies listed in New York Stock Exchange
(NYSE) and selected 8 stocks from different Industries. Our selected stocks
are TSLA, AMZN, WMT, AAPL, F, DIS, IBM and MSFT. We have collected
monthly adjusted closing price (Raw Data) of July 1, 2010 to June 1, 2018
from the website Yahoo Finance.
We have calculated monthly return of these stocks. We convert it into
annualized form. Then we have calculated standard deviation of these
stocks. We have calculated monthly covariance through generating monthly
covariance matrix by excel extension called "Data Analysis" and Used
‘VAR.P’ equation. Later on we filled the gaps of the matrix and made
another matrix to get an annualized covariance matrix.
Then, used solver application for follow Portfolio Optimization: Markowitz
Method. We have made template and took specific constraint by
adjustments in solver application. We tried to make some portfolio though
changing expected return and minimizing variance simultaneously around
18 times. We took 4.08% as lowest return because this the lowest expected
return and 49.59% as highest return because that's the highest among 8
stocks in the output table.
Next we inserted a ‘Scatter Plot Graph’ where; in X axis indicates ‘risk’ and
‘returns’ in Y axis. The graph that we got there is an "Efficient Frontier" of
selected 8 stocks portfolio.