Date Return on BSE Return on RIL Return on TCS

12/1/2010 0 0 0
11/1/2010 -0.0481659596 -0.067517127332861 -0.0758336552
10/1/2010 0.02618121278 0.110458046209972 -0.023126219
9/1/2010 0.00183603114 -0.09988136521263 -0.1228845788
8/2/2010 -0.1045387142 -0.068434125817408 -0.0853070294
7/1/2010 -0.0057219583 0.098764760298199 -0.003258873
6/1/2010 -0.0093679921 0.076564976228209 -0.1069432886
5/3/2010 -0.0427249462 -0.038504002208115 -0.012181322
4/1/2010 0.03624039002 -0.012008994784939 0.03234501348
3/2/2010 -0.0017620884 0.040823244552058 0.01932114883
2/1/2010 -0.0626560024 -0.089936258316661 -0.0253586066
1/4/2010 -0.0043573926 0.070092024539877 -0.0335742444
12/1/2009 0.06766430533 0.040944054273566 0.0194438779
11/3/2009 -0.0308385834 -0.024417110335965 -0.0834278093
10/1/2009 -0.0608487896 0.817133985698156 -0.088766007
9/1/2009 0.07741182214 0.139779935275081 -0.0109389971
8/3/2009 -0.0852579927 -0.089542067962929 -0.1491079357
7/1/2009 0.00023425572 -0.023451923556709 -0.0011385199
6/1/2009 -0.0750763705 0.033851106228604 -0.2596884498
5/4/2009 0.00906661037 0.125608520522895 0.79561200924
4/1/2009 -0.2203039264 -0.20847420417124 -0.1093962129
3/2/2009 -0.148619911 -0.155045209962834 -0.1335044929
2/2/2009 -0.0841417315 -0.169478728991597 -0.11
1/2/2009 0.05990253734 0.047547527765701 0.0652309613
12/1/2008 0.02366981316 -0.071649562330214 -0.0661197383
11/3/2008 -0.0574864911 -0.080186953871165 0.16722443004
10/1/2008 0.07647216674 0.211337928596677 -0.036914255
9/1/2008 0.31388957567 0.419916104322451 0.23313796632
8/1/2008 0.13250723343 0.097824132350297 0.22587702754
7/1/2008 -0.0143348258 0.032502632502633 0.024739984
6/2/2008 -0.0622851471 -0.051196627685613 0.03152963786
5/2/2008 0.21943676829 0.147330705840201 0.19847461574
4/1/2008 0.05310446119 0.08877230237545 -0.106582463
3/3/2008 -0.0950332932 -0.133984740998528 -0.1181556196
2/1/2008 0.12364009194 0.085559726208876 0.07818473301
1/2/2008 0.00398151856 0.008644360825791 0.00108658355
12/3/2007 0.14948854619 0.16194797338173 0.23776063982
11/1/2007 -0.0455365729 -0.010516999010777 -0.0640605529
10/1/2007 0.02452075304 -0.023923528895905 0.02362049411
9/3/2007 -0.1283844785 -0.174785718136242 0.01816167261
8/1/2007 -0.1140760276 -0.146633568504486 0.00780695529
7/2/2007 0.01517044639 -0.034294462873182 0.08774647887
6/1/2007 -0.0579049951 -0.101463827088728 -0.0079416462
5/3/2007 -0.0072386559 0.035229077221667 0.05164237546
4/2/2007 -0.0462093471 -0.113680263606408 0.04724474599
3/1/2007 -0.0576880519 -0.122908787898212 -0.027257644
2/1/2007 -0.0102516046 -0.010048598677239 -0.0347222222
1/2/2007 0.08910356938 0.007382253063635 0.07585510539
12/1/2006 -0.0215748865 -0.069067858713176 -0.0469263257
11/1/2006 -0.0065714507 -0.019955130475853 -0.0219514197
10/3/2006 -0.0536210118 -0.015100401606426 -0.0900700592
9/1/2006 -0.0391516676 -0.044976349698255 -0.0579990779
8/1/2006 -0.0606507569 -0.045642799197302 -0.0250097886
7/3/2006 -0.0816450908 -0.124015748031496 -0.0602881381
6/1/2006 -0.0125308548 0.081460674157303 0.85432692308
5/2/2006 -0.0198543724 -0.099645808736718 0.02705038458
4/3/2006 0.13976098729 0.057225281930239 0.11191518007
3/1/2006 -0.0482596505 -0.209912681087517 -0.0342818223
2/1/2006 -0.0806492222 -0.10989010989011 -0.1145678238
1/2/2006 -0.0434271531 0.006984126984127 -0.0146030622
12/1/2005 -0.0526175189 0.246532156368222 0.0193700976
11/1/2005 -0.0648142729 -0.063789130556961 -0.1077564686
10/3/2005 -0.1020035704 -0.084463921239044 -0.0781764319
9/1/2005 0.0940357208 0.040587502458855 0.05784681307
8/1/2005 -0.0960162048 -0.093194706994329 -0.0509029536
7/1/2005 -0.0217809909 -0.023139462163852 -0.0972365473
6/1/2005 -0.0578317892 -0.086783326219946 0.06520111886
5/2/2005 -0.0665485102 -0.166147374980527 -0.0123529847
4/1/2005 -0.0834937924 -0.014105558150397 -0.1534976034
3/1/2005 0.05498144429 0.034584043964374 0.26763990268
2/1/2005 0.03404375911 0.018499862624782 -0.0361891467
1/3/2005 -0.0235214914 -0.042082546533585 -0.0581142733
12/1/2004 0.00713093775 0.002159016239557 0.02679429516
11/1/2004 -0.0557954409 -0.031940801798426 -0.0453013852
10/1/2004 -0.0901498005 0.024189646831156 -0.094627451
9/1/2004 -0.0156304266 -0.020878601794993 -0.1102351973
8/2/2004 -0.0701213015 -0.08230412967966 -0.0381170285
7/1/2004 -0.0041909986 0.028072757859321 -0.5948681613
6/1/2004 -0.0725022823 -0.12129269789323 -0.1244222361
5/3/2004 -0.0074737356 0.002094972067039 -0.0947353403
4/1/2004 0.18813896908 0.222764227642276 0.33317572892
3/1/2004 -0.0114038857 0.022131458966565 -0.0396027899
2/3/2004 0.01375702071 0.030852151287055 0.11927621861
1/2/2004 0.00496867231 0.008924547011629 0.04794897174
12/1/2003 0.02515770752 0.023945675482488 -0.0286493861
11/3/2003 -0.1360070972 -0.148516579406632 -0.17653414
10/1/2003 -0.0273448805 -0.003279360524698 -0.1056153241
9/1/2003 -0.0924479352 -0.086983343615053 -0.0836144932
8/1/2003 -0.0468220891 -0.102364864864865 -0.0281735233
7/1/2003 -0.1065132529 -0.103625642955714 -0.2943501894
6/2/2003 -0.0489056349 -0.091392582225332 -0.1465919701
5/2/2003 -0.1182047778 -0.079020332717191 -0.3397155361
4/1/2003 -0.0694678928 -0.080448235490885 0.12593206297
3/3/2003 0.03004605056 0.005638413968716 0.12362030905
2/3/2003 0.07706184891 0.063302586362814 0.25933202358
1/2/2003 -0.0101350323 -0.063446164313659 0.00390015601
12/2/2002 0.03904158898 0.081365782782419 0.24397824398
11/1/2002 -0.0439584518 -0.023849512932482 -0.0753695607
10/1/2002 -0.0865641318 -0.082243633860977 -0.3269533889
9/2/2002 0.01425413316 -0.031683539557555 -0.0117096019
8/1/2002 0.06347280167 -0.011423039690223 0.19262017603
7/1/2002 -0.0608506773 0.046220133176655 0.26057337496
6/3/2002 0.08603752113 0 0
5/2/2002 -0.0366659475 -0.009921377761138 0.11619004729
4/1/2002 0.06796172414 0.053696350916998 0.21585636474
3/1/2002 0.03930009346 0.077875471020994 -0.3225485316
2/4/2002 0.02679464453 0.023639087730981 -0.2956159687
1/2/2002 -0.0705384989 -0.025532606927956 -0.0281641168
12/3/2001 -0.014708414 0.018524699599466 0
11/1/2001 0.00773373632 -0.050303129608389 0
10/1/2001 -0.0907086106 -0.118702553485162 0
9/3/2001 -0.0594610869 -0.053641346906813 0
8/1/2001 0.15412932138 0.283202316921804 0
7/2/2001 0.02598807378 0.03095276479123 0
6/1/2001 0.03829656863 0.154026583268178 0
5/2/2001 0.05066275551 0.067750677506775 0
4/2/2001 -0.0310442715 -0.247715736040609 0
3/1/2001 0.02421600609 0.315789473684211 0
2/1/2001 0.17829973532 0.053589743589744 0
1/2/2001 0.01876130199 -0.055731321489414 0
Average return -0.0098953119 -0.001129343688079 -0.0041392109

Beta Standard deviation Variance

RIL 0.94110872345 0.129626546146588 0.01680304147
TCS 0.86469927693 0.1707229228651 0.02914631639
TATA STEEL 1.51510582853 0.165527252897842 0.02739927145
INFOSYS TECHNOLOGIES 0.29033103613 0.261487522730713 0.06837572454
SUZLON ENERGY 2.71265897423 0.613522659642871 0.3764100539
JSW STEEL 1.69826211443 0.214561655828344 0.04603670415
ADITYA BIRLA NUVO 1.14045749145 0.140657170603103 0.01978443964
GMR 1.05262227364 0.16783476693768 0.02816850899
BHARAT FORGE 1.16082230654 0.132996512619643 0.01768807237
TATA CHEMICALS 1.0691426495 0.116362676959818 0.01354027259
PUNJ LLOYD 1.0656192831 0.136479122517329 0.01862655088

Covariance
RIL and TCS 0.00555731402
RIL and TATA STEEL 0.00913711645
RIL and INFOSYS 0.00040404124
RIL and SUZLON 0.01516876294
RIL and JSW STEEL 0.00940704296
RIL and ADITYA BIRLA NUVO 0.0067928782
RIL and GMR 0.00713522466
RIL and BHARAT FORGE 0.00734433417
RIL and TATA CHEMICALS 0.00580372051
RIL and PUNJ LLOYD 0.00723628813
TCS and TATA STEEL 0.00704840967
TCS and INFOSYS 0.0095730859
TCS and SUZLON 0.01044598669
TCS and JSW STEEL 0.0117166546
TCS and ADITYA BIRLA NUVO 0.00861406895
TCS and GMR 0.0047040286
TCS and BHARAT FORGE 0.00945807654
TCS and TATA CHEMICALS 0.00719658613
TCS and PUNJ LLOYD 0.0033304987
TATA STEEL and INFOSYS 0.00070875436
TATA STEEL and SUZLON 0.03523809192
TATA STEEL and JSW STEEL 0.02099582532
TATA STEEL and ADITYA BIRLA NUVO 0.01430497525
TATA STEEL and GMR 0.01225551855
TATA STEEL and BHARAT FORGE 0.01575201883
TATA STEEL and TATA CHEMICALS 0.01323692801
TATA STEEL and PUNJ LLOYD 0.01329705421
INFOSYS and SUZLON 0.00420469248
INFOSYS and JSW STEEL 0.00320589862
INFOSYS and ADITYA BIRLA NUVO -0.0001297512
INFOSYS and GMR 0.00140219443
INFOSYS and BHARAT FORGE 0.00208577891
INFOSYS and TATA CHEMICALS 0.00464190359
INFOSYS and PUNJ LLOYD 0.00180763805
SUZLON and JSW STEEL 0.03567096892
SUZLON and ADITYA BIRLA NUVO 0.03275554505
SUZLON and GMR 0.03123619935
SUZLON and BHARAT FORGE 0.02405554552
SUZLON and TATA CHEMICALS 0.02395361087
SUZLON and PUNJ LLOYD 0.03140377352
JSW STEEL and ADITYA BIRLA NUVO 0.0166860433
JSW STEEL and GMR 0.01097256175
JSW STEEL and BHARAT FORGE 0.01384438679
JSW STEEL and TATA CHEMICALS 0.01374981786
JSW STEEL and PUNJ LLOYD 0.01200073939
ADITYA BIRLA NUVO and GMR 0.01105597501
ADITYA BIRLA NUVO and BHARAT FORGE 0.01155320305
ADITYA BIRLA NUVO and TATA CHEMICALS 0.01076552978
ADITYA BIRLA NUVO and PUNJ LLOYD 0.01139664969
GMR and BHARAT FORGE 0.01010964818
GMR and TATA CHEMICALS 0.0095782331
GMR and PUNJ LLOYD 0.01471377868
BHARATFORGE and TATA CHEMICALS 0.01057699514
BHARATFORGE and PUNJ LLOYD 0.00908239862
TATA CHEMICALS and PUNJ LLOYD 0.00928075908
Return on Tata Steel Return on Infosys Return on Suzlon Return on JSW steel
0 0 0 0
-0.138921539817808 -0.1150039300166 -0.1290027447393 -0.039194014623364
0.00332736114666 -0.024012762948 0.16491596638656 0.183656313600566
0.108843537414966 0.02558096425743 -0.0568079350766 -0.000934474638358
-0.198773006134969 -0.1094168487816 -0.1147227533461 -0.153509428314876
0.025076569678407 0.01869003690037 0.22030237580994 -0.012994475138122
-0.091596638655462 0.01063155416297 0.02477876106195 -0.049975370561103
0.027340939459348 -0.0434408602151 -0.027633851468 0.042847042187132
0.238619309654827 0.02236960431655 0.2246891651865 0.10979027300669
0.02140549273021 -0.0415979475903 0.04278462654097 0.006720156396367
-0.091182285488335 -0.0057361376673 -0.0013908205841 -0.133425034387896
0.107292029237731 0.01346153846154 0.07590529247911 -0.07703081232493
-0.030255402750491 -0.0114990512334 0.16957928802589 0.02443095599393
-0.063209076175041 -0.0846354666564 -0.1317100166021 -0.020392040685331
-0.184256055363322 -0.0711125091748 -0.1472275334608 -0.238306451612903
0.079745493107105 0.04027633539531 0.36995515695067 0.098597141344627
-0.166961304262424 -0.0754807066279 0.02291325695581 -0.167148536320925
0.092666823862297 -0.0321361502347 0.064 0.008895638967238
-0.155265429434614 -0.1377119157915 0.03959899749373 -0.116845878136201
0.030782986332865 -0.0999634348719 -0.0583413693346 -0.105925324675325
-0.408921933085502 -0.0668458389325 -0.3481822836662 -0.388924194280527
-0.132494758909853 -0.1118553248493 -0.3338570306363 -0.311097905214678
-0.163363943934268 -0.0746606334842 -0.0436320754717 -0.188915246926892
0.062969381860197 0.06471067644662 0.16646115906289 0.122042010103696
0.176902173913044 -0.1456674831598 0.31712473572939 0.087677725118484
-0.304548603093974 0.11549144341905 -0.3314606741573 -0.180174291938998
0.418658698539177 0.11265060240964 0.0672268907563 0.619718309859155
0.993915282003276 0.01353546291283 2.4251968503937 0.57571780147662
0.408450704225352 0.24643874643875 0.43185550082102 0.59152436484798
0.09 -0.0971428571429 0.02201834862385 -0.039057899901865
0.111620795107034 0.09240506329114 -0.0309694793537 0.226988017429194
0.242090784044016 0.14426419466976 0.28415933302455 0.299633780934413
-0.098560354374308 -0.1118987341772 0.03570784490532 -0.252369567073691
-0.153501228501229 -0.1827251995439 -0.0820128852516 -0.064473759351265
0.161018793991728 0.0672131147541 6.20751138088012 0.295995604932243
-0.08125 -0.0064385397261 0 -0.089303377137205
0.268163265306122 0.16118421052632 0 0.363796224463408
-0.115760111576011 -0.0906515580737 0 -0.234669498274489
0.099187090512012 0.14641744548287 0 -0.050839898914821
-0.063966002538772 0.02559782608696 0 -0.111406943356826
-0.189799528301887 -0.0170102273329 0 -0.245520239703895
-0.044829342842588 0.06512129380054 0 0.147251206977106
-0.089676190476191 -0.0236613017512 0 -0.169958596348334
 0.058168731168396 -0.0028770638397 0 -0.00858614768174
-0.130823380526774 0.06620743436444 0 -0.038436159683273
-0.181636181636182 -0.0157008069825 0 -0.153456853662721
-0.015901256532859 0.02917791593392 0 -0.048231837065559
0.050621468926554 0.08170681812712 0 -0.023315234749281
0.037319853731986 -0.002447381302 0 -0.156529321996948
-0.029756350440643 -0.0277009545901 0 -0.15158955802533
0.048194058559521 -0.0386291691517 0 0.034577303884235
0.09216026098481 -0.1173228346457 0 -0.159305064782097
-0.073555493325866 -0.0233828021518 0 -0.036427320490368
-0.000100755667506 -0.083508635961 0 -0.125954198473283
0.075473599355099 0.85977469723053 0 0.144312746932834
0.02501639651457 -0.0170350281752 0 0.054697437761221
0.16617915904936 0.03509003799769 0 0.188835286009649
-0.158959084496003 -0.0482969962014 0 -0.122608695652174
-0.196644920782852 -0.0511336955793 0 -0.320614469772051
-0.061600928074246 0.01815161102176 0 -0.048383175297836
-0.060576090987761 0.04046453494428 0 0.171691364333163
-0.079615738913015 -0.104242788261 0 -0.097252507631923
-0.029453817557907 -0.0605338151204 0 0.013768115942029
0.247790218031821 -0.0026368484704 0 0.380748153442935
-0.077804014167651 -0.0553413111756 0 -0.048317515099224
-0.05863525796953 -0.0453053322672 0 -0.015956482320943
-0.075887392900857 0.03958650179638 0 -0.07425833793993
0.069315673289183 -0.04571186261 0 0.253781847133758
-0.061519405450041 -0.1615899042414 0 0.003175107159867
0.176272180671653 0.19631121475514 0 0.141161576198766
0.052861239246977 -0.0075757575758 0 0.18541117736791
-0.084783895796329 -0.0765367617517 0 -0.179106223678053
-0.003493336783542 0.01114253256955 0 -0.029499786233433
-0.159958452350039 0.02748960175933 0 -0.154478707782673
-0.090108191653787 -0.0932439977666 0 -0.080236193122612
-0.017666043825378 -0.1299774220033 0 -0.001132930513595
-0.128998789555594 -0.0707755824241 0 -0.006049149338374
0.556283502084574 -0.0139638210092 0 -0.127995435526816
-0.232172470978441 2.55590601866752 0 -0.203053435114504
-0.015617212161489 -0.0585072681523 0 -0.25424192665572
0.208270042194093 -0.0105270241689 0 0.253211009174312
0.071797737114122 -0.040408849334 0 0.058857979502196
0.113905903818585 0.02516098983435 0 0.280143805309734
-0.04949104949105 0.02969905875614 0 0.028299848779434
0.091334318069916 0.06750690607735 0 0.211974789915966
-0.185878637491541 -0.1147860621417 0 -0.171780204541515
-0.008451094486007 -0.0380129721171 0 -0.325868564252825
-0.241721391644544 -0.044453120054 0 -0.039739211425023
 -0.066334991708126 -0.1329932310818
-0.178804026050918 -0.0824407453163
-0.186012977649604 -0.0911109877297
-0.067020962503691 -0.1832009773977
-0.163607594936709 0.04203126168574
0.011729095724555 0.45440680399053
0.12490650710546 0.05737937500771
0.010970744680851 0.00345358659635
-0.003288391976324 0.11001813869122
-0.09501814582646 -0.0421511323403
-0.086401749908859 -0.1695500973295
-0.072226656025539 -0.1028338908057
0.062795698924731 0.05811034948407
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
-0.002744306599777 0.01988181338431 0.27256381365542
0 0.037827352085354
0 -0.292834890965732
0 0.089867841409692
0 -0.189167340339531
0 -0.159521435692921
0 -0.126334519572954
0 0.202987101154107
0 -0.168171557562077
0 -0.200814111261872
0 -0.214770797962649
0 -0.192432432432432
0 0.060240963855422
0 -0.023989898989899
0 0.141009055627426
0 0
0 -0.675736961451247
0 -0.29020979020979
0 -0.45320197044335
0 0.009009009009009
0 -0.625
0 0.023809523809524
0 0.046511627906977
0 0
0 0
0 0.288888888888889
0 0
0 0.5
0 0.057471264367816
0 0
0 -0.152173913043478
0 0.512820512820513
0 0
-0.018573202257158

Expected Return Weight weight Portfolio return equal weight

0.03 0.40962131219727 0.09090909090909 0.002727272727273
0.07 0.23513870541612 0.09090909090909 0.006363636363636
-0.31 0.14330140907089 0.09090909090909 -0.028181818181818
0.4088 0.09684610303831 0.09090909090909 0.037163636363636
-1.02 0.03707067371202 0.09090909090909 -0.092727272727273
-0.42 0.02661272567151 0.09090909090909 -0.038181818181818
-0.09 0.02072324966975 0.09090909090909 -0.008181818181818
-0.04 0.00654997798327 0.09090909090909 -0.003636363636364
-0.1 0.00690774988992 0.09090909090909 -0.009090909090909
-0.05 0.00721047996477 0.09090909090909 -0.004545454545455
-0.05 0.01001761338617 0.09090909090909 -0.004545454545455
1 1 -0.142836363636364

0.091 Table 2
0.091 Portfolio Weight : Non B2BGBS
0.091 Company
0.091 RIL
0.091 TCS
0.091 TATA STEEL
0.091 INFOSYS TECHNOLOGIES
0.091 SUZLON ENERGY
0.091 JSW STEEL
0.091 ADITYA BIRLA NUVO
0.091 GMR
1 BHARAT FORGE
TATA CHEMICALS
PUNJ LLOYD
Total
Return on Aditya Birla Nuvo Return on GMR Return on Bharat Forge Return on Tata Chemicals
0 0 0 0
-0.110972048393826 0.018909899889 -0.014172185430464 -0.099022470483687
0.095930817188443 0.165938864629 0.021093645035604 0.099619557559532
0.047100562759971 0.060861423221 -0.047368421052632 0.022296258329062
-0.055088211239631 -0.01765225066 -0.034530386740332 -0.009024818250188
-0.045007727975271 0.023360287511 -0.064949928469242 -0.148368327852264
-0.018644396970286 0.044776119403 -0.112760097919217 -0.007574632407545
-0.047892341183456 0 -0.068804966373513 -0.037264292128106
0.139610614563847 0.119327731092 0.021481481481482 0.099642468521685
0.104936770428016 -0.05855855856 -0.071791153009427 -0.075911789652248
-0.074667106855948 -0.12599681021 -0.041015625 -0.117791035643261
0.006303145626449 0.095802919708 0.20183299389002 0.032079070573955
0.035631980145364 0.109908409659 -0.074733096085409 0.082661290322581
-0.049868766404199 -0.00825206302 -0.029304029304029 -0.128957169459963
-0.050804708143166 -0.07034795764 -0.067924528301887 -0.063424193835738
0.204605845881311 1.279088689992 0.117408906882591 0.069050789423626
0.057142857142857 0.0214209211 -0.203079710144928 -0.116725978647687
-0.130415341812401 -0.00314575323 -0.031598090475108 0.023771152296535
-0.015368793921042 -0.00666199158 -0.325586854460094 -0.142660369933097
0.077056980387606 0.163430991881 0.253045596937 -0.005049345880193
-0.430988040081888 -0.31523058252 -0.291666666666667 -0.210611303344867
-0.159250142018557 -0.15906070004 -0.235294117647059 -0.174459380479252
-0.031531531531532 -0.17334035827 -0.025641025641026 -0.121769911504425
0.094069767441861 -0.0643722116 -0.105789473684211 0.237404272470778
0.22149006270592 0.049046321526 -0.009417304296645 0.072312703583062
-0.162098668754894 -0.30844155844 0.023767082590612 -0.104799513973269
0.141121495327103 -0.05352112676 0.188624492164829 0.069562266711911
0.691145691145691 0.741071428571 0.796875 0.438769035532995
0.409814894532931 0.174358974359 0.45679347826087 0.454906284454245
0.010992366412214 -0.10237748666 -0.046633090841261 -0.033798120642619
-0.108728480821504 -0.13189189189 -0.0774799452162 -0.100392156862745
0.213952897322941 0.657534246575 0.094379639448568 0.407497820401046
0.012072996266443 0.20848985725 0.13953488372093 -0.114222001982161
-0.038165833476987 -0.07367112216 -0.081632653061225 -0.214545454545454
0.228690228690229 0.168791946309 0.066666666666667 0.173076923076923
0.165762296516716 -0.00172265289 -0.039236111111111 -0.074074074074074
-0.000500500500501 0.423353465631 0.271955186122154 0.352786885245902
-0.214822233350025 0.028490604162 -0.110669129137662 -0.244425593795444
0.025733418367347 -0.30353634578 0.204472843450479 0.027265437048917
-0.05459010787453 -0.01861777151 -0.241379310344828 -0.067291178766589
-0.087238170398869 0 -0.073426573426574 -0.154670237696686
0.063008862309965 0 0.078490566037736 0.038415841584158
-0.091978174670417 0 0.079426172148356 -0.049961861174676
 0.048370843130669 0 0.064019448946515 0.028301886792453
-0.185125849976859 0 -0.013861386138614 -0.146984188951786
-0.07221809602866 0 -0.025177633611369 -0.052860411899314
0.125306084008288 0 0.042465536365077 0.037690263348635
0.056199522952672 0 0.01687186502508 0.058207217694994
-0.01148969889065 0 0.085052316890882 -0.051485148514852
-0.067855711422846 0 0.001239840198374 0.016701461377871
-0.158102936750226 0 -0.012658227848101 0.053159936116815
-0.113074565883555 0 -0.000696767001115 0.043977469670711
-0.075895427847518 0 -0.096918142518477 -0.067441377879228
-0.096896809571286 0 -0.070722668313774 -0.106141522029372
-0.025736562478438 0 0.042871385842473 0.060990789146129
0.063456090651558 0 0.115519439133206 0.071562646644768
0.125466169419286 0 0.204542208255963 0.113422377928618
-0.121301775147929 0 0.056207755247243 0.037758112094395
-0.005252525252525 0 -0.064219153474795 -0.100435853704757
-0.037367993501219 0 -0.074865026994601 0.021908573836107
-0.061603375527426 0 0.017766826611334 -0.032570603999176
-0.051708633093525 0 -0.085881753312946 -0.09737907521841
-0.067488541172752 0 -0.102592695846111 -0.095136921624174
0.046186440677966 0 0.089934762348556 0.000521784503
-0.06318347509113 0 -0.072538121704432 -0.01903520208605
-0.211846087332469 0 -0.040719114935464 -0.039340776182882
-0.067471201316511 0 -0.070639115809707 -0.086054233536248
0.048705882352941 0 -0.054222681833851 0.079927338782925
-0.047004711689477 0 -0.054925830083464 -0.147462853938884
-0.060035314891113 0 0.061550327805631 -0.003288391976324
0.127363807138385 0 -0.02960837026811 0.033652259980205
-0.087536103088203 0 0.012279585189622 0.007341206511331
-0.054662770878987 0 -0.204371463441695 0.047211660329531
-0.240437862202189 0 -0.163389578394459 -0.117700453857791
-0.159884706680231 0 -0.041115679519947 -0.12002743484225
0.078506559031282 0 -0.061768455209179 0.026500389711613
0.090381736526946 0 -0.096467391304348 -0.059225512528474
-0.174875579200275 0 -0.067053998632946 -0.039144471347861
-0.152662229617305 0 -0.110117957359514 -0.010079798404032
-0.015709376534119 0 0.109089412152149 0.043699618158676
0.067082294264339 0 0.149135179273996 0.126829268292683
-0.116849731245618 0 -0.052131782945737 -0.082251082251082
0.013495633765547 0 0.015470592244258 -0.091588050314466
0.096866840731071 0 -0.061006711409396 0.063608827347469
0.285408236134254 0 0.134300621828318 0.245728234336859
-0.135740740740741 0 -0.212161310649023 -0.170803396472893
-0.166059567173773 0 -0.05046788770695 -0.012603387160299
-0.075796505652621 0 -0.185731132075472 -0.257279617072198
 0.007228245760356 0 -0.0953760215165 -0.001611170784103
-0.185481645045542 0 -0.08461978273299 -0.148466917697687
-0.126058963063369 0 -0.145409119300437 -0.061276058117499
-0.241178751454052 0 -0.075719923987721 -0.062584118438762
-0.185998978027593 0 -0.182508303020718 -0.032304379038047
-0.054613935969868 0 -0.067517895144128 -0.093471810089021
0.160690571049137 0 0.089834024896266 0.051554828150573
0.028604118993135 0 -0.111174566914144 -0.091050583657588
0.046162402669633 0 -0.119511672735061 0
0.007974481658692 0 -0.127219654585259 0
0.095991561181435 0 -0.049609810479376 0
-0.149181905678537 0 -0.03108504398827 0
-0.003393665158371 0 0.039951573849879 0
0.089103291713962 0 0 0
0 0 0 0
-0.115164147993747 0 0 0
0.275029446407538 0 0 0
-0.36905311778291 0 0 0
-0.000732064421669 0 0 0
-0.019047619047619 0 0 0
0.085138162808066 0 0 0
0.032346868547832 0 0 0
-0.06 0 0 0
-0.00709219858156 0 0 0
-0.039285714285714 0 0 0
0.163568773234201 0 0 0
0.054952076677316 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
-0.009583481717666 0.063939097726 -0.014135791778676 -0.011901102174359

Portfolio return equal weight suarweihy square

0.012288639365918 0.00826446281 0.167789619406213
0.016459709379128 0.00826446281 0.055290210784767
-0.044423436811977 0.00826446281 0.020535293841704
0.039590686922061 0.00826446281 0.009379167673707
-0.037812087186262 0.00826446281 0.001374234849463
-0.011177344782034 0.00826446281 0.000708237167667
-0.001865092470277 0.00826446281 0.000429453076875
-0.000261999119331 0.00826446281 4.2771E-05
-0.000690774988992 0.00826446281 0.0004616
 -0.000360523998239 0.00826446281 5.19E-05
-0.000500880669309 0.00826446281 0.000100352577955
-0.028753104359313 1 1

Table 2
olio Weight : Non B2BGBS
Weight
0.40962131219727
0.235138705416116
0.143301409070894
0.096846103038309
0.037070673712021
0.02661272567151
0.020723249669749
0.006549977983267
0.006907749889916
0.007210479964773
0.010017613386174
1
Return on Punj Lloyd
0
-0.119356280733125
0.196446700507614
0.074246924056003
-0.16824644549763
0.201804368471035
0.075464243382062
-0.117927994121969
0.374843815077051
0.074825810360497
-0.014092446448704
0.071183533447684
0.094475580464372
-0.03194342843209
0.018136020151134
0.322612568035626
0.005985783763561
-0.083302342878393
-0.149492900608519
-0.028619127116623
-0.431131843849742
-0.213206732844195
-0.132199670872189
0.197218710493047
0.552798310454066
-0.069704182250935
0.277412280701754
0.643490701001431
0.051009749303621
-0.108497598144774
-0.207729468599034
0.504924953095685
0.138538257752844
-0.147139337530797
0.212967420959717
0.17015083355385
0.254409769335143
-0.080674238327024
-0.080596136876164
-0.340194091927055
-0.098593825763698
0.015958400573785
-0.093187433815743
-0.158232775398988
-0.116763005780347
-0.148952879581152
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
 0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0.030198272772667
Variance equal weight suare
0.0168 0.091 0.001529
0.0291 0.091 0.002652
0.0274 0.091 0.002493
0.0684 0.091 0.006222
0.3764 0.091 0.034253
0.0460 0.091 0.004189
0.0198 0.091 0.0018
0.0282 0.091 0.002563
0.0177 0.091 0.00161
0.0135 0.091 0.001232
0.0186 0.091 0.001695
1 0.06024
 Standard deviation weight
RIL 0.1296 0.091 RIL and TCS
TCS 0.1707 0.091 RIL and TATA STEEL
TATA STEEL 0.1655 0.091 RIL and INFOSYS
INFOSYS TECHNOLOGIES 0.2615 0.091 RIL and SUZLON
SUZLON ENERGY 0.6135 0.091 RIL and JSW STEEL
JSW STEEL 0.2146 0.091 RIL and ADITYA BIRLA NUVO
ADITYA BIRLA NUVO 0.1407 0.091 RIL and GMR
GMR 0.1678 0.091 RIL and BHARAT FORGE
BHARAT FORGE 0.1330 0.091 RIL and TATA CHEMICALS
TATA CHEMICALS 0.1164 0.091 RIL and PUNJ LLOYD
PUNJ LLOYD 0.1365 0.091 TCS and TATA STEEL
TCS and INFOSYS
TCS and SUZLON
TCS and JSW STEEL
TCS and ADITYA BIRLA NUVO
TCS and GMR
TCS and BHARAT FORGE
TCS and TATA CHEMICALS
TCS and PUNJ LLOYD
TATA STEEL and INFOSYS
TATA STEEL and SUZLON
TATA STEEL and JSW STEEL
TATA STEEL and ADITYA BIRLA NUVO
TATA STEEL and GMR
TATA STEEL and BHARAT FORGE
TATA STEEL and TATA CHEMICALS
TATA STEEL and PUNJ LLOYD
INFOSYS and SUZLON
INFOSYS and JSW STEEL
INFOSYS and ADITYA BIRLA NUVO
INFOSYS and GMR
INFOSYS and BHARAT FORGE
INFOSYS and TATA CHEMICALS
INFOSYS and PUNJ LLOYD
SUZLON and JSW STEEL
SUZLON and ADITYA BIRLA NUVO
SUZLON and GMR
SUZLON and BHARAT FORGE
SUZLON and TATA CHEMICALS
SUZLON and PUNJ LLOYD
JSW STEEL and ADITYA BIRLA NUVO
JSW STEEL and GMR
JSW STEEL and BHARAT FORGE
JSW STEEL and TATA CHEMICALS
JSW STEEL and PUNJ LLOYD
ADITYA BIRLA NUVO and GMR
ADITYA BIRLA NUVO and BHARAT FORGE
ADITYA BIRLA NUVO and TATA CHEMICALS
ADITYA BIRLA NUVO and PUNJ LLOYD
GMR and BHARAT FORGE
GMR and TATA CHEMICALS
GMR and PUNJ LLOYD
BHARATFORGE and TATA CHEMICALS
BHARATFORGE and PUNJ LLOYD
TATA CHEMICALS and PUNJ LLOYD
Covariance
0.0056 0.00000203687
0.0091 0.00000324702
0.0004 0.00000022682
0.0152 0.00001997963
0.0094 0.00000433323
0.0068 0.00000205127
0.0071 0.00000257097
0.0073 0.00000209700
0.0058 0.00000144986
0.0072 0.00000212026
0.0070 0.00000329887
0.0096 0.00000707795
0.0104 0.00001812111
0.0117 0.00000710821
0.0086 0.00000342590
0.0047 0.00000223232
0.0095 0.00000355670
0.0072 0.00000236780
0.0033 0.00000128523
0.0007 0.00000050808
0.0352 0.00005926868
0.0210 0.00001235001
0.0143 0.00000551609
0.0123 0.00000563892
0.0158 0.00000574326
0.0132 0.00000422263
0.0133 0.00000497512
0.0042 0.00001117194
0.0032 0.00000297897
-0.0001 -0.00000007904
0.0014 0.00000101919
0.0021 0.00000120136
0.0046 0.00000233923
0.0018 0.00000106842
0.0357 0.00007776970
0.0328 0.00004681555
0.0312 0.00005327010
0.0241 0.00003250864
0.0240 0.00002832227
0.0314 0.00004355033
0.0167 0.00000834027
0.0110 0.00000654417
0.0138 0.00000654303
0.0137 0.00000568559
0.0120 0.00000582022
0.0111 0.00000432269
0.0116 0.00000357946
0.0108 0.00000291826
0.0114 0.00000362342
0.0101 0.00000373741
0.0096 0.00000309809
0.0147 0.00000558194
0.0106 0.00000271100
0.0091 0.00000273036
0.0093 0.00000244105
0.00055642343
0.060240085030284
0.06079650846
0.246569479975454
 Table 10
Key statistics for Non B2BGBS
Comapany Beta Standard deviation Variance
RIL 0.9411087235 0.129626546146588 0.0168030415
TCS 0.8646992769 0.1707229228651 0.0291463164
TATA STEEL 1.5151058285 0.165527252897842 0.0273992715
INFOSYS TECHNOLOGIES 0.2903310361 0.261487522730713 0.0683757245
SUZLON ENERGY 2.7126589742 0.613522659642871 0.3764100539
JSW STEEL 1.6982621144 0.214561655828344 0.0460367042
ADITYA BIRLA NUVO 1.1404574914 0.140657170603103 0.0197844396
GMR 1.0526222736 0.16783476693768 0.028168509
BHARAT FORGE 1.1608223065 0.132996512619643 0.0176880724
TATA CHEMICALS 1.0691426495 0.116362676959818 0.0135402726
PUNJ LLOYD 1.0656192831 0.136479122517329 0.0186265509
 Table 11
covariance of Non B2BGBs
RIL and TCS 0.005557314
RIL and TATA STEEL 0.0091371165
RIL and INFOSYS 0.0004040412
RIL and SUZLON 0.0151687629
RIL and JSW STEEL 0.009407043
RIL and ADITYA BIRLA NUVO 0.0067928782
RIL and GMR 0.0071352247
RIL and BHARAT FORGE 0.0073443342
RIL and TATA CHEMICALS 0.0058037205
RIL and PUNJ LLOYD 0.0072362881
TCS and TATA STEEL 0.0070484097
TCS and INFOSYS 0.0095730859
TCS and SUZLON 0.0104459867
TCS and JSW STEEL 0.0117166546
TCS and ADITYA BIRLA NUVO 0.0086140689
TCS and GMR 0.0047040286
TCS and BHARAT FORGE 0.0094580765
TCS and TATA CHEMICALS 0.0071965861
TCS and PUNJ LLOYD 0.0033304987
TATA STEEL and INFOSYS 0.0007087544
TATA STEEL and SUZLON 0.0352380919
TATA STEEL and JSW STEEL 0.0209958253
TATA STEEL and ADITYA BIRLA NUVO 0.0143049752
TATA STEEL and GMR 0.0122555185
TATA STEEL and BHARAT FORGE 0.0157520188
TATA STEEL and TATA CHEMICALS 0.013236928
TATA STEEL and PUNJ LLOYD 0.0132970542
INFOSYS and SUZLON 0.0042046925
INFOSYS and JSW STEEL 0.0032058986
INFOSYS and ADITYA BIRLA NUVO -0.0001297512
INFOSYS and GMR 0.0014021944
INFOSYS and BHARAT FORGE 0.0020857789
INFOSYS and TATA CHEMICALS 0.0046419036
INFOSYS and PUNJ LLOYD 0.001807638
SUZLON and JSW STEEL 0.0356709689
SUZLON and ADITYA BIRLA NUVO 0.0327555451
SUZLON and GMR 0.0312361994
SUZLON and BHARAT FORGE 0.0240555455
SUZLON and TATA CHEMICALS 0.0239536109
SUZLON and PUNJ LLOYD 0.0314037735
JSW STEEL and ADITYA BIRLA NUVO 0.0166860433
JSW STEEL and GMR 0.0109725618
JSW STEEL and BHARAT FORGE 0.0138443868
JSW STEEL and TATA CHEMICALS 0.0137498179
JSW STEEL and PUNJ LLOYD 0.0120007394
ADITYA BIRLA NUVO and GMR 0.011055975
ADITYA BIRLA NUVO and BHARAT FORGE 0.0115532031
ADITYA BIRLA NUVO and TATA CHEMICALS 0.0107655298
ADITYA BIRLA NUVO and PUNJ LLOYD 0.0113966497
GMR and BHARAT FORGE 0.0101096482
GMR and TATA CHEMICALS 0.0095782331
GMR and PUNJ LLOYD 0.0147137787
BHARATFORGE and TATA CHEMICALS 0.0105769951
BHARATFORGE and PUNJ LLOYD 0.0090823986
TATA CHEMICALS and PUNJ LLOYD 0.0092807591