Date Adj Close NIFTY Relative Returns Adj Close HDFC Relative Returns

9/1/2016 8611.150391 1299.854248

10/1/2016 8638 0.00311315399 1298.221802 -0.00125665776
11/1/2016 8224.5 -0.04905357001 1178.259766 -0.09695690815
12/1/2016 8185.799805 -0.00471658254 1177.793579 -0.00039573553
1/1/2017 8561.299805 0.044851103012 1274.108276 0.078603702726
2/1/2017 8879.599609 0.036504441906 1278.026123 0.003070253729
3/1/2017 9173.75 0.032589677966 1401.206665 0.092016972689
4/1/2017 9304.049805 0.014103623399 1437.054565 0.025261808877
5/1/2017 9621.25 0.03352442559 1467.625122 0.021049953251
6/1/2017 9520.900391 -0.01048477065 1509.788208 0.028323850291
7/1/2017 10077.099609 0.056776060819 1672.738403 0.102492664375
8/1/2017 9917.900391 -0.01592423927 1676.368896 0.00216803709
9/1/2017 9788.599609 -0.01312284145 1643.584961 -0.0197502749
10/1/2017 10335.299805 0.054346798114 1610.801025 -0.02014822162
11/1/2017 10226.549805 -0.01057794081 1580.894287 -0.01874089498
12/1/2017 10530.700195 0.029307558572 1613.631348 0.020496443487
1/1/2018 11027.700195 0.046115487805 1845.619141 0.13432766414
2/1/2018 10492.849609 -0.04971627143 1706.369507 -0.07844678075
3/1/2018 10113.700195 -0.03680307592 1722.313477 0.009300413599
4/1/2018 10739.349609 0.060023569782 1780.129272 0.033017554556
5/1/2018 10736.150391 -0.00029794119 1732.630737 -0.02704507568
6/1/2018 10714.299805 -0.00203730862 1803.618408 0.04015396306
7/1/2018 11356.5 0.058210987616 1885.618286 0.044460896535
8/1/2018 11680.5 0.028130517474 1845.093994 -0.02172554885
9/1/2018 10930.450195 -0.06636829443 1672.159668 -0.09841421613
10/1/2018 10386.599609 -0.05103601409 1686.217407 0.008371794347
11/1/2018 10876.75 0.046111007385 1895.654297 0.117076254737
12/1/2018 10862.549805 -0.00130640795 1875.973389 -0.01043638889
1/1/2019 10830.950195 -0.00291328115 1832.132324 -0.02364717261
2/1/2019 10792.5 -0.00355634602 1754.790649 -0.04313093142
3/1/2019 11623.900391 0.074211908531 1875.878174 0.06672734776
4/1/2019 11748.150391 0.010632457689 1904.827271 0.015314423834
5/1/2019 11922.799805 0.014756702359 2083.943359 0.089870611462
6/1/2019 11788.849609 -0.01129838069 2092.966064 0.004320284747
7/1/2019 11118 -0.05858871981 2025.845215 -0.03259522569
8/1/2019 11023.25 -0.00855873796 2099.980957 0.035941272994
9/1/2019 11474.450195 0.040116162934 1916.391846 -0.09148410543
10/1/2019 11877.450195 0.034518819339 2066.490723 0.075407694562
11/1/2019 12056.049805 0.014924931606 2226.767822 0.074699261164
12/1/2019 12168.450195 0.009279960093 2338.530273 0.048971516687
1/1/2020 11962.099609 -0.01710326684 2339.935547 0.000600741395
2/1/2020 11201.75 -0.06567326961 2108.995605 -0.1039115674
3/1/2020 8597.75 -0.26456947497 1582.994507 -0.28689350667
4/1/2020 9859.900391 0.136975525109 1857.214844 0.15975965891
5/1/2020 9580.299805 -0.02876717985 1608.003052 -0.14408490104
6/1/2020 10302.099609 0.072638833618 1700.815308 0.05611466027
 7/1/2020 11073.450195 0.072202648897 1727.277588 0.015438791434
8/1/2020 11387.5 0.027965893693 1816.014404 0.050097691396
9/1/2020 11247.549805 -0.01236595277 1724.302002 -0.05182187979
10/1/2020 11642.400391 0.034503330383 1906.141357 0.100258634626
11/1/2020 12968.950195 0.107904413834 2235.830322 0.159531701098
12/1/2020 13981.75 0.075194853764 2535.493408 0.12577558857
1/1/2021 13634.599609 -0.02514225688 2356.280273 -0.07330403628
2/1/2021 14529.150391 0.063546352203 2516.41748 0.065752035032
3/1/2021 14690.700195 0.011057650661 2475.491455 -0.01639731114
4/1/2021 14631.099609 -0.00406528034 2398.19751 -0.0317215263
5/1/2021 15582.799805 0.063018355917 2529.746094 0.053401521917
6/1/2021 15721.5 0.008861472928 2475.25 -0.02177753858
7/1/2021 15763.049805 0.002639378957 2441.149902 -0.01387220142
8/1/2021 16364.400391 0.037439686309 2668.75 0.089140998392

Avg Monthly returns 1.09% Avg Monthly returns 1.22%

Average Annual 13.06% Avg Annual Returns 14.63%
Relative Returns NIFTY Relative Returns HDFC

0.003113153990347 -0.001256657760136 -0.004784

-0.049053570008434 -0.096956908147805 -0.041376
-0.00471658253707 -0.000395735527019 0.004948
0.044851103011655 0.078603702725717 0.027784
0.036504441906298 0.00307025372892 -0.038292
0.032589677966176 0.09201697268853 0.05509
0.014103623398847 0.025261808877277 0.009281
0.033524425590408 0.021049953251411 -0.016936
-0.010484770648863 0.028323850291149 0.040204
0.056776060819023 0.102492664374937 0.038161
-0.015924239274731 0.002168037090447 0.020211
-0.013122841454091 -0.01975027490352 -0.004881
0.054346798113532 -0.020148221624017 -0.081727
-0.010577940806843 -0.01874089497557 -0.006755
0.029307558572418 0.020496443487369 -0.012711
0.046115487805393 0.134327664140106 0.082075
-0.049716271426551 -0.078446780745643 -0.022115
-0.036803075921884 0.009300413599404 0.051001
0.060023569781998 0.033017554555648 -0.034994
-0.000297941191001 -0.027045075679339 -0.026707
-0.002037308621324 0.040153963060158 0.042462
0.058210987615868 0.044460896534847 -0.021496
0.028130517473679 -0.021725548849436 -0.053599
-0.066368294433255 -0.098414216133835 -0.023214
-0.051036014085815 0.008371794346667 0.066199
0.046111007384874 0.117076254737166 0.064829
-0.001306407947542 -0.010436388886868 -0.008956
-0.002913281153282 -0.023647172614235 -0.020346
-0.003556346020497 -0.04313093141785 -0.039101
0.074211908530501 0.066727347759657 -0.01736
0.010632457689446 0.015314423833709 0.003267
0.014756702358874 0.089870611462351 0.07315
-0.011298380689714 0.004320284746551 0.017122
-0.058588719805325 -0.032595225686659 0.03379
-0.008558737956063 0.035941272994091 0.045639
0.040116162933756 -0.091484105428095 -0.136939
0.034518819338698 0.075407694561642 0.036295
0.014924931606016 0.074699261163922 0.057788
0.00927996009305 0.048971516687389 0.038457
-0.017103266839828 0.00060074139529 0.01998
-0.065673269611617 -0.103911567404738 -0.029499
-0.264569474973355 -0.286893506669263 0.012883
0.136975525108924 0.159759658909665 0.004556
-0.028767179852586 -0.144084901043913 -0.11149
0.072638833617621 0.056114660270486 -0.02619
 0.072202648897127 0.015438791433964 -0.066372
0.027965893693057 0.050097691396334 0.01841
-0.012365952767558 -0.051821879791571 -0.03781
0.034503330382601 0.100258634626103 0.061164
0.107904413833599 0.159531701097846 0.037268
0.075194853763626 0.125775588569792 0.040574
-0.025142256875112 -0.073304036278668 -0.044816
0.063546352203319 0.065752035031812 -0.006251
0.011057650661224 -0.016397311135552 -0.028926
-0.004065280336188 -0.031721526301522 -0.027115
0.063018355916596 0.053401521916503 -0.018003
0.008861472928021 -0.021777538579964 -0.031818
0.002639378957496 -0.013872201417349 -0.016863
0.03743968630928 0.089140998391659 0.046719

Monthly avg 0.010882209271438 0.012192509436203 0.012193

Annual Avg 0.130586511257251 0.146310113234432

Beta 1.13307356215567
Alpha -0.001654010245303
SUMMARY OUTPUT

Regression Statistics
Multiple R 0.8163350234
R Square 0.6664028705
Adjusted R Square 0.6605502893
Standard Error 0.0448895852
Observations 59

ANOVA
df SS MS F Significance F
Regression 1 0.22944605515 0.229446 113.86477958 3.299535E-15
Residual 57 0.11485926721 0.002015
Total 58 0.34430532236

Coefficients Standard Error t Stat P-value Lower 95%

Intercept -0.0001378342 0.00595726919 -0.023137 0.9816216865 -0.01206706
X Variable 1 1.1330735622 0.10618505625 10.67074 3.299535E-15 0.9204416547

-0.0137834187
 Upper 95% Lower 95.0% Upper 95.0%
0.0117913916 -0.01206706 0.0117913916
1.3457054696 0.9204416547 1.3457054696