analiza actiunilor bio si snp folosind metoda capm1

7/25/2019 Analiza Actiunilor BIO Si SNP Folosind Metoda CAPM1

1/186

Data Pret BIO Ri (R-Ri med)^2 Premiul de risc

03.01.2014 0.2095

04.01.2014 0.2075 -0.955% 0.000124 -1.455%

07.01.2014 0.205 -1.205% 0.000186 -1.684%

08.01.2014 0.207 0.976% 0.000067 0.496%

09.01.2014 0.2074 0.193% 0.000000 -0.286%

10.01.2014 0.2089 0.723% 0.000032 0.244%

11.01.2014 0.208 -0.431% 0.000035 -0.910%

14.01.2014 0.206 -0.962% 0.000125 -1.441%

1.01.2014 0.206 0.000% 0.000003 -0.479%

1!.01.2014 0.208 0.971% 0.000066 0.492%

17.01.2014 0.2096 0.769% 0.000037 0.290%

18.01.2014 0.209 -0.286% 0.000020 -0.765%

21.01.2014 0.208 -0.478% 0.000041 -0.958%

22.01.2014 0.2088 0.385% 0.000005 -0.095%

23.01.2014 0.205 -1.820% 0.000391 -2.299%

24.01.2014 0.205 0.000% 0.000003 -0.479%

2.01.2014 0.207 0.976% 0.000067 0.496%

28.01.2014 0.2084 0.676% 0.000027 0.197%

29.01.2014 0.21 0.768% 0.000037 0.289%

30.01.2014 0.2102 0.095% 0.000000 -0.384%

31.01.2014 0.21 -0.095% 0.000006 -0.574%

01.02.2014 0.215 2.381% 0.000494 1.902%

04.02.2014 0.216 0.465% 0.000009 0.007%

0.02.2014 0.2211 2.361% 0.000485 1.903%

0!.02.2014 0.229 3.573% 0.001166 3.115%07.02.2014 0.231 0.873% 0.000051 0.415%

08.02.2014 0.231 0.000% 0.000003 -0.458%

11.02.2014 0.2265 -1.948% 0.000444 -2.406%

12.02.2014 0.2275 0.442% 0.000008 -0.017%

13.02.2014 0.226 -0.659% 0.000067 -1.118%

14.02.2014 0.232 2.655% 0.000623 2.197%

1.02.2014 0.232 0.000% 0.000003 -0.458%

18.02.2014 0.238 2.586% 0.000589 2.128%

19.02.2014 0.239 0.420% 0.000007 -0.038%

20.02.2014 0.2375 -0.628% 0.000062 -1.086%21.02.2014 0.235 -1.053% 0.000147 -1.511%

22.02.2014 0.24 2.128% 0.000388 1.669%

2.02.2014 0.239 -0.417% 0.000033 -0.875%

2!.02.2014 0.236 -1.255% 0.000200 -1.714%

27.02.2014 0.237 0.424% 0.000007 -0.035%

28.02.2014 0.24 1.266% 0.000123 0.807%

01.03.2014 0.238 -0.833% 0.000098 -1.292%


2/186

04.03.2014 0.24 0.840% 0.000046 0.382%

0.03.2014 0.241 0.417% 0.000007 -0.042%

0!.03.2014 0.2416 0.249% 0.000001 -0.209%

07.03.2014 0.242 0.166% 0.000000 -0.293%

08.03.2014 0.2391 -1.198% 0.000184 -1.657%

11.03.2014 0.24 0.376% 0.000005 -0.082%

12.03.2014 0.24 0.000% 0.000003 -0.458%

13.03.2014 0.24 0.000% 0.000003 -0.458%

14.03.2014 0.24 0.000% 0.000003 -0.458%

1.03.2014 0.24 0.000% 0.000003 -0.458%

18.03.2014 0.2355 -1.875% 0.000413 -2.333%

19.03.2014 0.2377 0.934% 0.000060 0.476%

20.03.2014 0.234 -1.557% 0.000294 -2.015%

21.03.2014 0.2303 -1.581% 0.000303 -2.040%

22.03.2014 0.229 -0.564% 0.000052 -1.023%

2.03.2014 0.23 0.437% 0.000008 -0.022%

2!.03.2014 0.231 0.435% 0.000008 -0.024%

27.03.2014 0.23 -0.433% 0.000035 -0.891%

28.03.2014 0.235 2.174% 0.000406 1.716%

29.03.2014 0.235 0.000% 0.000003 -0.458%

01.04.2014 0.231 -1.702% 0.000346 -2.140%

02.04.2014 0.23 -0.433% 0.000035 -0.870%

03.04.2014 0.23 0.000% 0.000003 -0.438%

04.04.2014 0.23 0.000% 0.000003 -0.438%

0.04.2014 0.23 0.000% 0.000003 -0.438%

08.04.2014 0.2301 0.043% 0.000001 -0.394%09.04.2014 0.2305 0.174% 0.000000 -0.264%

10.04.2014 0.231 0.217% 0.000000 -0.221%

11.04.2014 0.2303 -0.303% 0.000021 -0.741%

12.04.2014 0.2304 0.043% 0.000001 -0.394%

1.04.2014 0.23 -0.174% 0.000011 -0.611%

1!.04.2014 0.229 -0.435% 0.000035 -0.872%

17.04.2014 0.2305 0.655% 0.000025 0.218%

19.04.2014 0.2303 -0.087% 0.000006 -0.524%

22.04.2014 0.235 2.041% 0.000354 1.603%

23.04.2014 0.2325 -1.064% 0.000149 -1.501%24.04.2014 0.2323 -0.086% 0.000006 -0.524%

2.04.2014 0.232 -0.129% 0.000008 -0.567%

2!.04.2014 0.2305 -0.647% 0.000065 -1.084%

29.04.2014 0.2302 -0.130% 0.000008 -0.568%

30.04.2014 0.2303 0.043% 0.000001 -0.394%

02.0.2014 0.23 -0.130% 0.000008 -0.568%

03.0.2014 0.2251 -2.130% 0.000524 -2.568%


3/186

07.0.2014 0.226 0.400% 0.000006 -0.038%

08.0.2014 0.2177 -3.673% 0.001468 -4.110%

09.0.2014 0.218 0.138% 0.000000 -0.300%

10.0.2014 0.22 0.917% 0.000058 0.480%

13.0.2014 0.219 -0.455% 0.000038 -0.892%

14.0.2014 0.2257 3.059% 0.000842 2.622%

1.0.2014 0.235 4.121% 0.001570 3.683%

1!.0.2014 0.24 2.128% 0.000388 1.690%

17.0.2014 0.2401 0.042% 0.000001 -0.396%

20.0.2014 0.2401 0.000% 0.000003 -0.438%

21.0.2014 0.2412 0.458% 0.000009 0.021%

22.0.2014 0.2445 1.368% 0.000146 0.931%

23.0.2014 0.2403 -1.718% 0.000352 -2.155%

24.0.2014 0.2405 0.083% 0.000001 -0.354%

27.0.2014 0.2425 0.832% 0.000045 0.394%

28.0.2014 0.2455 1.237% 0.000116 0.800%

29.0.2014 0.244 -0.611% 0.000059 -1.048%

30.0.2014 0.244 0.000% 0.000003 -0.438%

31.0.2014 0.244 0.000% 0.000003 -0.438%

03.0!.2014 0.2421 -0.779% 0.000088 -1.216%

04.0!.2014 0.244 0.785% 0.000039 0.347%

0.0!.2014 0.244 0.000% 0.000003 -0.438%

0!.0!.2014 0.2441 0.041% 0.000001 -0.397%

07.0!.2014 0.245 0.369% 0.000004 -0.069%

10.0!.2014 0.25 2.041% 0.000354 1.603%

11.0!.2014 0.25 0.000% 0.000003 -0.438%12.0!.2014 0.251 0.400% 0.000006 -0.037%

13.0!.2014 0.25 -0.398% 0.000031 -0.836%

14.0!.2014 0.25 0.000% 0.000003 -0.438%

17.0!.2014 0.25 0.000% 0.000003 -0.438%

18.0!.2014 0.2505 0.200% 0.000000 -0.238%

19.0!.2014 0.253 0.998% 0.000070 0.561%

20.0!.2014 0.25 -1.186% 0.000181 -1.623%

21.0!.2014 0.2482 -0.720% 0.000077 -1.158%

2.0!.2014 0.25 0.725% 0.000032 0.288%

2!.0!.2014 0.25 0.000% 0.000003 -0.438%27.0!.2014 0.245 -2.000% 0.000466 -2.438%

28.0!.2014 0.246 0.408% 0.000006 -0.029%

01.07.2014 0.245 -0.407% 0.000032 -0.844%

02.07.2014 0.2401 -2.000% 0.000466 -2.438%

03.07.2014 0.241 0.375% 0.000005 -0.063%

04.07.2014 0.242 0.415% 0.000007 -0.023%

0.07.2014 0.2421 0.041% 0.000001 -0.396%


4/186

08.07.2014 0.245 1.198% 0.000108 0.760%

09.07.2014 0.2485 1.429% 0.000161 0.991%

10.07.2014 0.245 -1.408% 0.000246 -1.846%

11.07.2014 0.245 0.000% 0.000003 -0.438%

12.07.2014 0.2525 3.061% 0.000843 2.624%

1.07.2014 0.2485 -1.584% 0.000304 -2.022%

1!.07.2014 0.253 1.811% 0.000273 1.373%

17.07.2014 0.257 1.581% 0.000202 1.144%

18.07.2014 0.2515 -2.140% 0.000528 -2.578%

19.07.2014 0.2505 -0.398% 0.000031 -0.835%

22.07.2014 0.249 -0.599% 0.000057 -1.036%

23.07.2014 0.254 2.008% 0.000342 1.571%

24.07.2014 0.25 -1.575% 0.000300 -2.012%

2.07.2014 0.25 0.000% 0.000003 -0.438%

2!.07.2014 0.2491 -0.360% 0.000027 -0.798%

29.07.2014 0.2529 1.525% 0.000187 1.088%

30.07.2014 0.249 -1.542% 0.000289 -1.980%

31.07.2014 0.252 1.205% 0.000109 0.767%

01.08.2014 0.25 -0.794% 0.000091 -1.231%

02.08.2014 0.2502 0.080% 0.000001 -0.358%

08.08.2014 0.2551 1.958% 0.000324 1.521%

09.08.2014 0.2551 0.000% 0.000003 -0.438%

12.08.2014 0.255 -0.039% 0.000004 -0.477%

13.08.2014 0.2612 2.431% 0.000517 1.994%

14.08.2014 0.26 -0.459% 0.000038 -0.897%

1!.08.2014 0.265 1.923% 0.000311 1.486%19.08.2014 0.265 0.000% 0.000003 -0.438%

20.08.2014 0.27 1.887% 0.000299 1.449%

21.08.2014 0.266 -1.481% 0.000269 -1.919%

22.08.2014 0.268 0.752% 0.000035 0.314%

23.08.2014 0.268 0.000% 0.000003 -0.438%

2!.08.2014 0.27 0.746% 0.000035 0.309%

27.08.2014 0.266 -1.481% 0.000269 -1.919%

28.08.2014 0.265 -0.376% 0.000029 -0.813%

29.08.2014 0.265 0.000% 0.000003 -0.438%

30.08.2014 0.265 0.000% 0.000003 -0.438%02.09.2014 0.268 1.132% 0.000095 0.695%

03.09.2014 0.2715 1.306% 0.000132 0.868%

04.09.2014 0.28 3.131% 0.000883 2.693%

0.09.2014 0.2725 -2.679% 0.000805 -3.116%

0!.09.2014 0.272 -0.183% 0.000012 -0.621%

09.09.2014 0.27 -0.735% 0.000080 -1.173%

10.09.2014 0.2705 0.185% 0.000000 -0.252%


5/186

11.09.2014 0.27 -0.185% 0.000012 -0.622%

12.09.2014 0.27 0.000% 0.000003 -0.438%

13.09.2014 0.27 0.000% 0.000003 -0.438%

1!.09.2014 0.2685 -0.556% 0.000051 -0.993%

17.09.2014 0.27 0.559% 0.000016 0.121%

18.09.2014 0.2672 -1.037% 0.000143 -1.475%

19.09.2014 0.27 1.048% 0.000079 0.610%

20.09.2014 0.27 0.000% 0.000003 -0.438%

23.09.2014 0.2665 -1.296% 0.000212 -1.734%

24.09.2014 0.2655 -0.375% 0.000028 -0.813%

2.09.2014 0.2714 2.222% 0.000426 1.785%

2!.09.2014 0.273 0.590% 0.000019 0.152%

27.09.2014 0.273 0.000% 0.000003 -0.438%

30.09.2014 0.2685 -1.648% 0.000326 -2.086%

01.10.2014 0.2675 -0.372% 0.000028 -0.810%

02.10.2014 0.267 -0.187% 0.000012 -0.624%

03.10.2014 0.2719 1.835% 0.000281 1.398%

04.10.2014 0.2734 0.552% 0.000015 0.114%

07.10.2014 0.27 -1.244% 0.000197 -1.681%

08.10.2014 0.27 0.000% 0.000003 -0.438%

09.10.2014 0.27 0.000% 0.000003 -0.438%

10.10.2014 0.2695 -0.185% 0.000012 -0.623%

11.10.2014 0.27 0.186% 0.000000 -0.252%

14.10.2014 0.271 0.370% 0.000004 -0.067%

1.10.2014 0.2885 6.458% 0.003968 6.020%

1!.10.2014 0.2905 0.693% 0.000029 0.256%17.10.2014 0.2935 1.033% 0.000076 0.595%

18.10.2014 0.295 0.511% 0.000012 0.074%

21.10.2014 0.29 -1.695% 0.000344 -2.132%

22.10.2014 0.295 1.724% 0.000245 1.287%

23.10.2014 0.2949 -0.034% 0.000004 -0.471%

24.10.2014 0.29 -1.662% 0.000331 -2.099%

2.10.2014 0.28 -3.448% 0.001301 -3.886%

28.10.2014 0.2681 -4.250% 0.001943 -4.688%

29.10.2014 0.2739 2.163% 0.000402 1.726%

30.10.2014 0.2691 -1.752% 0.000365 -2.190%31.10.2014 0.271 0.706% 0.000030 0.269%

01.11.2014 0.277 2.214% 0.000423 1.777%

04.11.2014 0.2782 0.433% 0.000008 -0.004%

0.11.2014 0.2889 3.846% 0.001360 3.409%

07.11.2014 0.29 0.381% 0.000005 -0.057%

08.11.2014 0.2885 -0.517% 0.000046 -0.955%

11.11.2014 0.2862 -0.797% 0.000091 -1.235%


6/186

12.11.2014 0.2899 1.293% 0.000129 0.855%

13.11.2014 0.2895 -0.138% 0.000009 -0.575%

14.11.2014 0.287 -0.864% 0.000104 -1.301%

1.11.2014 0.2939 2.404% 0.000504 1.967%

18.11.2014 0.295 0.374% 0.000005 -0.063%

19.11.2014 0.294 -0.339% 0.000025 -0.776%

20.11.2014 0.291 -1.020% 0.000139 -1.458%

21.11.2014 0.291 0.000% 0.000003 -0.438%

22.11.2014 0.291 0.000% 0.000003 -0.438%

2.11.2014 0.293 0.687% 0.000028 0.250%

2!.11.2014 0.293 0.000% 0.000003 -0.438%

0.038773

"#era$e (Ri med) 0.18% 0.000172

Riscul 1.31%


7/186

0.14

0.16

0.18

0.2

0.22

0.24

0.26

0.28

0.3

0.32

'lutia retului de ic*idere et

Peri'ada

-al'ri


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u s'cietatea Bi'+arm

aali,ata


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19/186

Data Pret /P Ri (Ri - Ri med)^2 Premiul de risc

03.01.2014 0.44

04.01.2014 0.443 0.682% 0.000042799 0.182%

07.01.2014 0.4351 -1.783% 0.000327937 -2.262%

08.01.2014 0.444 2.046% 0.000407191 1.566%

09.01.2014 0.4415 -0.563% 0.000034889 -1.042%

10.01.2014 0.4439 0.544% 0.000026625 0.064%

11.01.2014 0.4531 2.073% 0.000418174 1.593%

14.01.2014 0.467 3.068% 0.000924249 2.589%

1.01.2014 0.47 0.642% 0.000037797 0.163%

1!.01.2014 0.47 0.000% 0.000000076 -0.479%

17.01.2014 0.465 -1.064% 0.000119124 -1.543%

18.01.2014 0.462 -0.645% 0.000045262 -1.124%

21.01.2014 0.4518 -2.208% 0.000499702 -2.687%

22.01.2014 0.452 0.044% 0.000000028 -0.435%

23.01.2014 0.46 1.770% 0.000303562 1.291%

24.01.2014 0.454 -1.304% 0.000177411 -1.784%

2.01.2014 0.46 1.322% 0.000167438 0.842%

28.01.2014 0.4585 -0.326% 0.000012510 -0.805%

29.01.2014 0.452 -1.418% 0.000208882 -1.897%

30.01.2014 0.447 -1.106% 0.000128551 -1.585%

31.01.2014 0.4393 -1.723% 0.000306321 -2.202%

01.02.2014 0.4487 2.140% 0.000446122 1.661%

04.02.2014 0.446 -0.602% 0.000039608 -1.060%

0.02.2014 0.446 0.000% 0.000000076 -0.458%

0!.02.2014 0.443 -0.673% 0.000049036 -1.131%07.02.2014 0.44 -0.677% 0.000049676 -1.136%

08.02.2014 0.438 -0.455% 0.000023247 -0.913%

11.02.2014 0.4358 -0.502% 0.000028078 -0.961%

12.02.2014 0.4283 -1.721% 0.000305754 -2.179%

13.02.2014 0.4352 1.611% 0.000250719 1.153%

14.02.2014 0.429 -1.425% 0.000210900 -1.883%

1.02.2014 0.4291 0.023% 0.000000002 -0.435%

18.02.2014 0.43 0.210% 0.000003317 -0.249%

19.02.2014 0.434 0.930% 0.000081473 0.472%

20.02.2014 0.4471 3.018% 0.000894503 2.560%21.02.2014 0.443 -0.917% 0.000089232 -1.375%

22.02.2014 0.4521 2.054% 0.000410698 1.596%

2.02.2014 0.448 -0.907% 0.000087327 -1.365%

2!.02.2014 0.4438 -0.938% 0.000093143 -1.396%

27.02.2014 0.4465 0.608% 0.000033730 0.150%

28.02.2014 0.448 0.336% 0.000009507 -0.122%

01.03.2014 0.442 -1.339% 0.000186840 -1.798%


20/186

04.03.2014 0.4433 0.294% 0.000007103 -0.164%

0.03.2014 0.4502 1.557% 0.000233753 1.098%

0!.03.2014 0.45 -0.044% 0.000000519 -0.503%

07.03.2014 0.451 0.222% 0.000003787 -0.236%

08.03.2014 0.452 0.222% 0.000003768 -0.237%

11.03.2014 0.4508 -0.265% 0.000008590 -0.724%

12.03.2014 0.4579 1.575% 0.000239435 1.117%

13.03.2014 0.457 -0.197% 0.000005025 -0.655%

14.03.2014 0.47 2.845% 0.000793566 2.386%

1.03.2014 0.4705 0.106% 0.000000621 -0.352%

18.03.2014 0.462 -1.807% 0.000336428 -2.265%

19.03.2014 0.466 0.866% 0.000070257 0.407%

20.03.2014 0.4705 0.966% 0.000087995 0.507%

21.03.2014 0.462 -1.807% 0.000336428 -2.265%

22.03.2014 0.4545 -1.623% 0.000272575 -2.082%

2.03.2014 0.46 1.210% 0.000139834 0.752%

2!.03.2014 0.467 1.522% 0.000223243 1.063%

27.03.2014 0.462 -1.071% 0.000120620 -1.529%

28.03.2014 0.458 -0.866% 0.000079818 -1.324%

29.03.2014 0.4506 -1.616% 0.000270053 -2.074%

01.04.2014 0.452 0.311% 0.000008014 -0.127%

02.04.2014 0.465 2.876% 0.000811394 2.439%

03.04.2014 0.467 0.430% 0.000016201 -0.007%

04.04.2014 0.4665 -0.107% 0.000001814 -0.545%

0.04.2014 0.4619 -0.986% 0.000102754 -1.424%

08.04.2014 0.457 -1.061% 0.000118471 -1.498%09.04.2014 0.4605 0.766% 0.000054502 0.328%

10.04.2014 0.465 0.977% 0.000090172 0.540%

11.04.2014 0.4647 -0.065% 0.000000849 -0.502%

12.04.2014 0.465 0.065% 0.000000137 -0.373%

1.04.2014 0.4585 -1.398% 0.000203193 -1.835%

1!.04.2014 0.461 0.545% 0.000026796 0.108%

17.04.2014 0.455 -1.302% 0.000176658 -1.739%

19.04.2014 0.455 0.000% 0.000000076 -0.438%

22.04.2014 0.451 -0.879% 0.000082216 -1.317%

23.04.2014 0.4402 -2.395% 0.000586747 -2.832%24.04.2014 0.45 2.226% 0.000483407 1.789%

2.04.2014 0.448 -0.444% 0.000022283 -0.882%

2!.04.2014 0.45 0.446% 0.000017541 0.009%

29.04.2014 0.4649 3.311% 0.001078139 2.874%

30.04.2014 0.463 -0.409% 0.000019036 -0.846%

02.0.2014 0.46 -0.648% 0.000045638 -1.085%

03.0.2014 0.458 -0.435% 0.000021381 -0.872%


21/186

07.0.2014 0.4511 -1.507% 0.000235364 -1.944%

08.0.2014 0.453 0.421% 0.000015491 -0.016%

09.0.2014 0.453 0.000% 0.000000076 -0.438%

10.0.2014 0.4326 -4.503% 0.002052923 -4.941%

13.0.2014 0.4442 2.681% 0.000704293 2.244%

14.0.2014 0.43 -3.197% 0.001039654 -3.634%

1.0.2014 0.415 -3.488% 0.001236212 -3.926%

1!.0.2014 0.4105 -1.084% 0.000123642 -1.522%

17.0.2014 0.4098 -0.171% 0.000003926 -0.608%

20.0.2014 0.41 0.049% 0.000000045 -0.389%

21.0.2014 0.4196 2.341% 0.000535393 1.904%

22.0.2014 0.4229 0.786% 0.000057586 0.349%

23.0.2014 0.426 0.733% 0.000049763 0.296%

24.0.2014 0.43 0.939% 0.000083057 0.501%

27.0.2014 0.428 -0.465% 0.000024278 -0.903%

28.0.2014 0.4219 -1.425% 0.000211075 -1.863%

29.0.2014 0.4192 -0.640% 0.000044565 -1.077%

30.0.2014 0.414 -1.240% 0.000160799 -1.678%

31.0.2014 0.42 1.449% 0.000202114 1.012%

03.0!.2014 0.424 0.952% 0.000085520 0.515%

04.0!.2014 0.42 -0.943% 0.000094285 -1.381%

0.0!.2014 0.4168 -0.762% 0.000062333 -1.199%

0!.0!.2014 0.4194 0.624% 0.000035544 0.186%

07.0!.2014 0.43 2.527% 0.000624906 2.090%

10.0!.2014 0.4299 -0.023% 0.000000259 -0.461%

11.0!.2014 0.43 0.023% 0.000000002 -0.414%12.0!.2014 0.4245 -1.279% 0.000170741 -1.717%

13.0!.2014 0.4238 -0.165% 0.000003706 -0.602%

14.0!.2014 0.424 0.047% 0.000000038 -0.390%

17.0!.2014 0.427 0.708% 0.000046232 0.270%

18.0!.2014 0.4298 0.656% 0.000039455 0.218%

19.0!.2014 0.4265 -0.768% 0.000063267 -1.205%

20.0!.2014 0.422 -1.055% 0.000117226 -1.493%

21.0!.2014 0.4175 -1.066% 0.000119675 -1.504%

2.0!.2014 0.4103 -1.725% 0.000307006 -2.162%

2!.0!.2014 0.4186 2.023% 0.000398123 1.585%27.0!.2014 0.4212 0.621% 0.000035225 0.184%

28.0!.2014 0.421 -0.047% 0.000000564 -0.485%

01.07.2014 0.4155 -1.306% 0.000177961 -1.744%

02.07.2014 0.415 -0.120% 0.000002189 -0.558%

03.07.2014 0.4156 0.145% 0.000001368 -0.293%

04.07.2014 0.416 0.096% 0.000000471 -0.341%

0.07.2014 0.42 0.962% 0.000087223 0.524%


22/186

08.07.2014 0.4209 0.214% 0.000003485 -0.223%

09.07.2014 0.422 0.261% 0.000005463 -0.176%

10.07.2014 0.4262 0.995% 0.000093635 0.558%

11.07.2014 0.427 0.188% 0.000002563 -0.250%

12.07.2014 0.429 0.468% 0.000019428 0.031%

1.07.2014 0.4278 -0.280% 0.000009445 -0.717%

1!.07.2014 0.4252 -0.608% 0.000040369 -1.045%

17.07.2014 0.4289 0.870% 0.000070992 0.433%

18.07.2014 0.4292 0.070% 0.000000179 -0.368%

19.07.2014 0.4257 -0.815% 0.000071078 -1.253%

22.07.2014 0.43 1.010% 0.000096529 0.573%

23.07.2014 0.4251 -1.140% 0.000136222 -1.577%

24.07.2014 0.424 -0.259% 0.000008201 -0.696%

2.07.2014 0.4241 0.024% 0.000000002 -0.414%

2!.07.2014 0.4235 -0.141% 0.000002859 -0.579%

29.07.2014 0.424 0.118% 0.000000818 -0.319%

30.07.2014 0.424 0.000% 0.000000076 -0.438%

31.07.2014 0.432 1.887% 0.000345657 1.449%

01.08.2014 0.431 -0.231% 0.000006713 -0.669%

02.08.2014 0.431 0.000% 0.000000076 -0.438%

08.08.2014 0.44 2.088% 0.000424590 1.651%

09.08.2014 0.4494 2.136% 0.000444685 1.699%

12.08.2014 0.448 -0.312% 0.000011501 -0.749%

13.08.2014 0.442 -1.339% 0.000186840 -1.777%

14.08.2014 0.4389 -0.701% 0.000053139 -1.139%

1!.08.2014 0.45 2.529% 0.000625721 2.092%19.08.2014 0.4461 -0.867% 0.000079973 -1.304%

20.08.2014 0.4499 0.852% 0.000067934 0.414%

21.08.2014 0.45 0.022% 0.000000003 -0.415%

22.08.2014 0.449 -0.222% 0.000006242 -0.660%

23.08.2014 0.4452 -0.846% 0.000076376 -1.284%

2!.08.2014 0.445 -0.045% 0.000000526 -0.482%

27.08.2014 0.449 0.899% 0.000075911 0.461%

28.08.2014 0.448 -0.223% 0.000006266 -0.660%

29.08.2014 0.44 -1.786% 0.000328814 -2.223%

30.08.2014 0.435 -1.136% 0.000135483 -1.574%02.09.2014 0.435 0.000% 0.000000076 -0.438%

03.09.2014 0.435 0.000% 0.000000076 -0.438%

04.09.2014 0.4392 0.966% 0.000087967 0.528%

0.09.2014 0.4372 -0.455% 0.000023327 -0.893%

0!.09.2014 0.4346 -0.595% 0.000038726 -1.032%

09.09.2014 0.4321 -0.575% 0.000036343 -1.013%

10.09.2014 0.437 1.134% 0.000122410 0.696%


23/186

11.09.2014 0.4365 -0.114% 0.000002017 -0.552%

12.09.2014 0.436 -0.115% 0.000002021 -0.552%

13.09.2014 0.431 -1.147% 0.000137921 -1.584%

1!.09.2014 0.438 1.624% 0.000254888 1.187%

17.09.2014 0.44 0.457% 0.000018405 0.019%

18.09.2014 0.435 -1.136% 0.000135483 -1.574%

19.09.2014 0.4332 -0.414% 0.000019484 -0.851%

20.09.2014 0.4347 0.346% 0.000010154 -0.091%

23.09.2014 0.435 0.069% 0.000000171 -0.368%

24.09.2014 0.43 -1.149% 0.000138541 -1.587%

2.09.2014 0.4481 4.209% 0.001748656 3.772%

2!.09.2014 0.4435 -1.027% 0.000111126 -1.464%

27.09.2014 0.4511 1.714% 0.000284271 1.276%

30.09.2014 0.45 -0.244% 0.000007369 -0.681%

01.10.2014 0.4475 -0.556% 0.000034008 -0.993%

02.10.2014 0.448 0.112% 0.000000708 -0.326%

03.10.2014 0.4452 -0.625% 0.000042590 -1.063%

04.10.2014 0.448 0.629% 0.000036159 0.191%

07.10.2014 0.446 -0.446% 0.000022471 -0.884%

08.10.2014 0.445 -0.224% 0.000006342 -0.662%

09.10.2014 0.446 0.225% 0.000003885 -0.213%

10.10.2014 0.447 0.224% 0.000003865 -0.213%

11.10.2014 0.4435 -0.783% 0.000065708 -1.220%

14.10.2014 0.4449 0.316% 0.000008298 -0.122%

1.10.2014 0.44 -1.101% 0.000127459 -1.539%

1!.10.2014 0.44 0.000% 0.000000076 -0.438%17.10.2014 0.44 0.000% 0.000000076 -0.438%

18.10.2014 0.4443 0.977% 0.000090186 0.540%

21.10.2014 0.4421 -0.495% 0.000027329 -0.933%

22.10.2014 0.436 -1.380% 0.000198074 -1.817%

23.10.2014 0.43 -1.376% 0.000197053 -1.814%

24.10.2014 0.4305 0.116% 0.000000786 -0.321%

2.10.2014 0.4344 0.906% 0.000077144 0.468%

28.10.2014 0.44 1.289% 0.000159145 0.852%

29.10.2014 0.4398 -0.045% 0.000000534 -0.483%

30.10.2014 0.4312 -1.955% 0.000393246 -2.393%31.10.2014 0.4375 1.461% 0.000205472 1.024%

01.11.2014 0.439 0.343% 0.000009938 -0.095%

04.11.2014 0.445 1.367% 0.000179328 0.929%

0.11.2014 0.449 0.899% 0.000075911 0.461%

07.11.2014 0.455 1.336% 0.000171268 0.899%

08.11.2014 0.478 5.055% 0.002527411 4.617%

11.11.2014 0.475 -0.628% 0.000042932 -1.065%


24/186

12.11.2014 0.4725 -0.526% 0.000030683 -0.964%

13.11.2014 0.4778 1.122% 0.000119702 0.684%

14.11.2014 0.4511 -5.588% 0.003153632 -6.026%

1.11.2014 0.446 -1.131% 0.000134138 -1.568%

18.11.2014 0.451 1.121% 0.000119567 0.684%

19.11.2014 0.4461 -1.086% 0.000124118 -1.524%

20.11.2014 0.45 0.874% 0.000071679 0.437%

21.11.2014 0.4545 1.000% 0.000094555 0.563%

22.11.2014 0.457 0.550% 0.000027295 0.113%

2.11.2014 0.4585 0.328% 0.000009037 -0.109%

2!.11.2014 0.459 0.109% 0.000000663 -0.328%

0.039145626

"#era$e (Ri med) 0.028% 0.000173981

Riscul 1.319%


25/186

0.28

0.33

0.38

0.43

0.48

0.53

'lutia retului de ic*idere etru s'cietatea

Peri'ada aali,ata

-al'ri


26/186


27/186


28/186


29/186


30/186


31/186

Petr'm


32/186


33/186


34/186


35/186


36/186


37/186

Data Rata d'a,ii la certi+icatele de tre,'rerie

03.01.2014 6% 0.50%

04.01.2014 6% 0.50%

07.01.2014 5.75% 0.48%

08.01.2014 5.75% 0.48%

09.01.2014 5.75% 0.48%

10.01.2014 5.75% 0.48%

11.01.2014 5.75% 0.48%

14.01.2014 5.75% 0.48%

1.01.2014 5.75% 0.48%

1!.01.2014 5.75% 0.48%

17.01.2014 5.75% 0.48%

18.01.2014 5.75% 0.48%

21.01.2014 5.75% 0.48%

22.01.2014 5.75% 0.48%

23.01.2014 5.75% 0.48%

24.01.2014 5.75% 0.48%

2.01.2014 5.75% 0.48%

28.01.2014 5.75% 0.48%

29.01.2014 5.75% 0.48%

30.01.2014 5.75% 0.48%

31.01.2014 5.75% 0.48%

01.02.2014 5.75% 0.48%

04.02.2014 5.50% 0.46%

0.02.2014 5.50% 0.46%0!.02.2014 5.50% 0.46%

07.02.2014 5.50% 0.46%

08.02.2014 5.50% 0.46%

11.02.2014 5.50% 0.46%

12.02.2014 5.50% 0.46%

13.02.2014 5.50% 0.46%

14.02.2014 5.50% 0.46%

1.02.2014 5.50% 0.46%

18.02.2014 5.50% 0.46%

19.02.2014 5.50% 0.46%20.02.2014 5.50% 0.46%

21.02.2014 5.50% 0.46%

22.02.2014 5.50% 0.46%

2.02.2014 5.50% 0.46%

2!.02.2014 5.50% 0.46%

27.02.2014 5.50% 0.46%

28.02.2014 5.50% 0.46%


38/186

01.03.2014 5.50% 0.46%

04.03.2014 5.50% 0.46%

0.03.2014 5.50% 0.46%

0!.03.2014 5.50% 0.46%

07.03.2014 5.50% 0.46%

08.03.2014 5.50% 0.46%

11.03.2014 5.50% 0.46%

12.03.2014 5.50% 0.46%

13.03.2014 5.50% 0.46%

14.03.2014 5.50% 0.46%

1.03.2014 5.50% 0.46%

18.03.2014 5.50% 0.46%

19.03.2014 5.50% 0.46%

20.03.2014 5.50% 0.46%

21.03.2014 5.50% 0.46%

22.03.2014 5.50% 0.46%

2.03.2014 5.50% 0.46%

2!.03.2014 5.50% 0.46%

27.03.2014 5.50% 0.46%

28.03.2014 5.50% 0.46%

29.03.2014 5.50% 0.46%

01.04.2014 5.25% 0.44%

02.04.2014 5.25% 0.44%

03.04.2014 5.25% 0.44%

04.04.2014 5.25% 0.44%

0.04.2014 5.25% 0.44%08.04.2014 5.25% 0.44%

09.04.2014 5.25% 0.44%

10.04.2014 5.25% 0.44%

11.04.2014 5.25% 0.44%

12.04.2014 5.25% 0.44%

1.04.2014 5.25% 0.44%

1!.04.2014 5.25% 0.44%

17.04.2014 5.25% 0.44%

19.04.2014 5.25% 0.44%

22.04.2014 5.25% 0.44%23.04.2014 5.25% 0.44%

24.04.2014 5.25% 0.44%

2.04.2014 5.25% 0.44%

2!.04.2014 5.25% 0.44%

29.04.2014 5.25% 0.44%

30.04.2014 5.25% 0.44%

02.0.2014 5.25% 0.44%


39/186

03.0.2014 5.25% 0.44%

07.0.2014 5.25% 0.44%

08.0.2014 5.25% 0.44%

09.0.2014 5.25% 0.44%

10.0.2014 5.25% 0.44%

13.0.2014 5.25% 0.44%

14.0.2014 5.25% 0.44%

1.0.2014 5.25% 0.44%

1!.0.2014 5.25% 0.44%

17.0.2014 5.25% 0.44%

20.0.2014 5.25% 0.44%

21.0.2014 5.25% 0.44%

22.0.2014 5.25% 0.44%

23.0.2014 5.25% 0.44%

24.0.2014 5.25% 0.44%

27.0.2014 5.25% 0.44%

28.0.2014 5.25% 0.44%

29.0.2014 5.25% 0.44%

30.0.2014 5.25% 0.44%

31.0.2014 5.25% 0.44%

03.0!.2014 5.25% 0.44%

04.0!.2014 5.25% 0.44%

0.0!.2014 5.25% 0.44%

0!.0!.2014 5.25% 0.44%

07.0!.2014 5.25% 0.44%

10.0!.2014 5.25% 0.44%11.0!.2014 5.25% 0.44%

12.0!.2014 5.25% 0.44%

13.0!.2014 5.25% 0.44%

14.0!.2014 5.25% 0.44%

17.0!.2014 5.25% 0.44%

18.0!.2014 5.25% 0.44%

19.0!.2014 5.25% 0.44%

20.0!.2014 5.25% 0.44%

21.0!.2014 5.25% 0.44%

2.0!.2014 5.25% 0.44%2!.0!.2014 5.25% 0.44%

27.0!.2014 5.25% 0.44%

28.0!.2014 5.25% 0.44%

01.07.2014 5.25% 0.44%

02.07.2014 5.25% 0.44%

03.07.2014 5.25% 0.44%

04.07.2014 5.25% 0.44%


40/186

0.07.2014 5.25% 0.44%

08.07.2014 5.25% 0.44%

09.07.2014 5.25% 0.44%

10.07.2014 5.25% 0.44%

11.07.2014 5.25% 0.44%

12.07.2014 5.25% 0.44%

1.07.2014 5.25% 0.44%

1!.07.2014 5.25% 0.44%

17.07.2014 5.25% 0.44%

18.07.2014 5.25% 0.44%

19.07.2014 5.25% 0.44%

22.07.2014 5.25% 0.44%

23.07.2014 5.25% 0.44%

24.07.2014 5.25% 0.44%

2.07.2014 5.25% 0.44%

2!.07.2014 5.25% 0.44%

29.07.2014 5.25% 0.44%

30.07.2014 5.25% 0.44%

31.07.2014 5.25% 0.44%

01.08.2014 5.25% 0.44%

02.08.2014 5.25% 0.44%

08.08.2014 5.25% 0.44%

09.08.2014 5.25% 0.44%

12.08.2014 5.25% 0.44%

13.08.2014 5.25% 0.44%

14.08.2014 5.25% 0.44%1!.08.2014 5.25% 0.44%

19.08.2014 5.25% 0.44%

20.08.2014 5.25% 0.44%

21.08.2014 5.25% 0.44%

22.08.2014 5.25% 0.44%

23.08.2014 5.25% 0.44%

2!.08.2014 5.25% 0.44%

27.08.2014 5.25% 0.44%

28.08.2014 5.25% 0.44%

29.08.2014 5.25% 0.44%30.08.2014 5.25% 0.44%

02.09.2014 5.25% 0.44%

03.09.2014 5.25% 0.44%

04.09.2014 5.25% 0.44%

0.09.2014 5.25% 0.44%

0!.09.2014 5.25% 0.44%

09.09.2014 5.25% 0.44%


41/186

10.09.2014 5.25% 0.44%

11.09.2014 5.25% 0.44%

12.09.2014 5.25% 0.44%

13.09.2014 5.25% 0.44%

1!.09.2014 5.25% 0.44%

17.09.2014 5.25% 0.44%

18.09.2014 5.25% 0.44%

19.09.2014 5.25% 0.44%

20.09.2014 5.25% 0.44%

23.09.2014 5.25% 0.44%

24.09.2014 5.25% 0.44%

2.09.2014 5.25% 0.44%

2!.09.2014 5.25% 0.44%

27.09.2014 5.25% 0.44%

30.09.2014 5.25% 0.44%

01.10.2014 5.25% 0.44%

02.10.2014 5.25% 0.44%

03.10.2014 5.25% 0.44%

04.10.2014 5.25% 0.44%

07.10.2014 5.25% 0.44%

08.10.2014 5.25% 0.44%

09.10.2014 5.25% 0.44%

10.10.2014 5.25% 0.44%

11.10.2014 5.25% 0.44%

14.10.2014 5.25% 0.44%

1.10.2014 5.25% 0.44%1!.10.2014 5.25% 0.44%

17.10.2014 5.25% 0.44%

18.10.2014 5.25% 0.44%

21.10.2014 5.25% 0.44%

22.10.2014 5.25% 0.44%

23.10.2014 5.25% 0.44%

24.10.2014 5.25% 0.44%

2.10.2014 5.25% 0.44%

28.10.2014 5.25% 0.44%

29.10.2014 5.25% 0.44%30.10.2014 5.25% 0.44%

31.10.2014 5.25% 0.44%

01.11.2014 5.25% 0.44%

04.11.2014 5.25% 0.44%

0.11.2014 5.25% 0.44%

07.11.2014 5.25% 0.44%

08.11.2014 5.25% 0.44%


42/186

11.11.2014 5.25% 0.44%

12.11.2014 5.25% 0.44%

13.11.2014 5.25% 0.44%

14.11.2014 5.25% 0.44%

1.11.2014 5.25% 0.44%

18.11.2014 5.25% 0.44%

19.11.2014 5.25% 0.44%

20.11.2014 5.25% 0.44%

21.11.2014 5.25% 0.44%

22.11.2014 5.25% 0.44%

2.11.2014 5.25% 0.44%

2!.11.2014 5.25% 0.44%


43/186

alaile di

30-ar-14 5.25

3-e-14 5.5

!-a-14 5.75

3 '#.2013 6

P'litic5m'etar5


44/186


45/186


46/186


47/186


48/186


49/186

Data B&6 Ri (Ri - Ri med)^2 Pret BIO

03.01.2014 2621.26 0.2095

04.01.2014 2626.95 0.21707% 0.0000045892 0.2075

07.01.2014 2649.47 0.85727% 0.0000730035 0.205

08.01.2014 2647.45 -0.07624% 0.0000006255 0.207

09.01.2014 2637.29 -0.38377% 0.0000149469 0.2074

10.01.2014 2632.6 -0.17783% 0.0000032646 0.2089

11.01.2014 2641.84 0.35098% 0.0000121199 0.208

14.01.2014 2642.54 0.02650% 0.0000000559 0.206

1.01.2014 2634.47 -0.30539% 0.0000095009 0.206

1!.01.2014 2660.21 0.97705% 0.0000949065 0.208

17.01.2014 2649.05 -0.41952% 0.0000178390 0.2096

18.01.2014 2675.45 0.99658% 0.0000987513 0.209

21.01.2014 2686.63 0.41787% 0.0000172247 0.208

22.01.2014 2697.46 0.40311% 0.0000160208 0.208823.01.2014 2703.55 0.22577% 0.0000049694 0.205

24.01.2014 2726.61 0.85295% 0.0000722680 0.205

2.01.2014 2798.08 2.62120% 0.0006855792 0.207

28.01.2014 2851.44 1.90702% 0.0003625882 0.2084

29.01.2014 2828.35 -0.80977% 0.0000660340 0.21

30.01.2014 2901.21 2.57606% 0.0006621427 0.2102

31.01.2014 2943.17 1.44629% 0.0002083537 0.21

01.02.2014 2938.29 -0.16581% 0.0000028444 0.215

04.02.2014 2967.17 0.98288% 0.0000960474 0.216

0.02.2014 2933.02 -1.15093% 0.0001331197 0.22110!.02.2014 2933.2 0.00614% 0.0000000011 0.229

07.02.2014 2973.75 1.38245% 0.0001903302 0.231

08.02.2014 3002.46 0.96545% 0.0000926600 0.231

11.02.2014 2979.13 -0.77703% 0.0000608207 0.2265

12.02.2014 3009.41 1.01640% 0.0001027298 0.2275

13.02.2014 2994.77 -0.48647% 0.0000239435 0.226

14.02.2014 2962.79 -1.06786% 0.0001146417 0.232

1.02.2014 2964.89 0.07088% 0.0000004628 0.232

18.02.2014 2971.26 0.21485% 0.0000044944 0.238

19.02.2014 3002.11 1.03828% 0.0001072122 0.239

20.02.2014 3012.61 0.34975% 0.0000120344 0.2375

21.02.2014 3038.24 0.85076% 0.0000718952 0.235

22.02.2014 3069.26 1.02099% 0.0001036607 0.24

2.02.2014 3083.84 0.47503% 0.0000222960 0.239

2!.02.2014 3051.09 -1.06199% 0.0001133873 0.236

27.02.2014 3062.73 0.38150% 0.0000143380 0.237

28.02.2014 3103.44 1.32921% 0.0001759229 0.24


50/186

01.03.2014 3119.63 0.52168% 0.0000269187 0.238

04.03.2014 3143.62 0.76900% 0.0000586993 0.24

0.03.2014 3128.31 -0.48702% 0.0000239968 0.241

0!.03.2014 3099.61 -0.91743% 0.0000846907 0.2416

07.03.2014 3051.49 -1.55245% 0.0002418959 0.242

08.03.2014 3066.49 0.49156% 0.0000238843 0.2391

11.03.2014 3064.5 -0.06490% 0.0000004589 0.24

12.03.2014 2982.91 -2.66242% 0.0007103672 0.24

13.03.2014 2987.88 0.16662% 0.0000026820 0.24

14.03.2014 3009.83 0.73463% 0.0000535513 0.24

1.03.2014 3017.52 0.25550% 0.0000063832 0.24

18.03.2014 3030.71 0.43711% 0.0000188588 0.2355

19.03.2014 2998.71 -1.05586% 0.0001120857 0.2377

20.03.2014 2982.19 -0.55090% 0.0000306640 0.234

21.03.2014 3003.87 0.72698% 0.0000524372 0.2303

22.03.2014 2980.18 -0.78865% 0.0000626466 0.229

2.03.2014 2975.53 -0.15603% 0.0000025242 0.23

2!.03.2014 3000.8 0.84926% 0.0000716416 0.231

27.03.2014 3028.42 0.92042% 0.0000841942 0.23

28.03.2014 3033.57 0.17006% 0.0000027959 0.235

29.03.2014 3044.66 0.36558% 0.0000131572 0.235

01.04.2014 3076.07 1.03164% 0.0001058420 0.231

02.04.2014 3082.56 0.21098% 0.0000043321 0.23

03.04.2014 3060.25 -0.72375% 0.0000527942 0.23

04.04.2014 3039.84 -0.66694% 0.0000448613 0.23

0.04.2014 3024.96 -0.48950% 0.0000242405 0.2308.04.2014 3024.8 -0.00529% 0.0000000066 0.2301

09.04.2014 2996.47 -0.93659% 0.0000882543 0.2305

10.04.2014 2970.77 -0.85768% 0.0000740500 0.231

11.04.2014 2972.95 0.07338% 0.0000004975 0.2303

12.04.2014 2976.08 0.10528% 0.0000010493 0.2304

1.04.2014 3001.14 0.84205% 0.0000704257 0.23

1!.04.2014 3005.75 0.15361% 0.0000022729 0.229

17.04.2014 3001.15 -0.15304% 0.0000024301 0.2305

19.04.2014 2971.4 -0.99129% 0.0000988302 0.2303

22.04.2014 2970.59 -0.02726% 0.0000000906 0.23523.04.2014 2960.57 -0.33731% 0.0000115705 0.2325

24.04.2014 2996.67 1.21936% 0.0001479903 0.2323

2.04.2014 2994.89 -0.05940% 0.0000003875 0.232

2!.04.2014 2993.2 -0.05643% 0.0000003514 0.2305

29.04.2014 3024.81 1.05606% 0.0001109259 0.2302

30.04.2014 3003.23 -0.71343% 0.0000513057 0.2303

02.0.2014 2981.2 -0.73354% 0.0000542271 0.23


51/186

03.0.2014 2999.58 0.61653% 0.0000376607 0.2251

07.0.2014 2965.53 -1.13516% 0.0001295057 0.226

08.0.2014 2880.94 -2.85244% 0.0008152671 0.2177

09.0.2014 2825.55 -1.92264% 0.0003707486 0.218

10.0.2014 2709.28 -4.11495% 0.0016956261 0.22

13.0.2014 2660.66 -1.79457% 0.0003230718 0.219

14.0.2014 2654.22 -0.24205% 0.0000059972 0.2257

1.0.2014 2660.09 0.22116% 0.0000047659 0.235

1!.0.2014 2622.26 -1.42213% 0.0002030566 0.24

17.0.2014 2602.38 -0.75812% 0.0000579078 0.2401

20.0.2014 2658.57 2.15918% 0.0004649761 0.2401

21.0.2014 2636.52 -0.82939% 0.0000692624 0.2412

22.0.2014 2622.91 -0.51621% 0.0000269421 0.2445

23.0.2014 2646.84 0.91235% 0.0000827187 0.2403

24.0.2014 2630.87 -0.60336% 0.0000367488 0.2405

27.0.2014 2637.03 0.23414% 0.0000053498 0.2425

28.0.2014 2605.46 -1.19718% 0.0001440065 0.2455

29.0.2014 2591.4 -0.53964% 0.0000294288 0.244

30.0.2014 2495.68 -3.69376% 0.0013664876 0.244

31.0.2014 2472.39 -0.93321% 0.0000876208 0.244

03.0!.2014 2500.15 1.12280% 0.0001254295 0.2421

04.0!.2014 2538.84 1.54751% 0.0002385975 0.244

0.0!.2014 2521.39 -0.68732% 0.0000476333 0.244

0!.0!.2014 2562.02 1.61141% 0.0002587484 0.2441

07.0!.2014 2551.66 -0.40437% 0.0000165824 0.245

10.0!.2014 2544.24 -0.29079% 0.0000086223 0.2511.0!.2014 2565.77 0.84623% 0.0000711287 0.25

12.0!.2014 2585.35 0.76312% 0.0000578021 0.251

13.0!.2014 2561.77 -0.91206% 0.0000837059 0.25

14.0!.2014 2567.62 0.22836% 0.0000050855 0.25

17.0!.2014 2542.82 -0.96588% 0.0000938422 0.25

18.0!.2014 2530.67 -0.47782% 0.0000231037 0.2505

19.0!.2014 2503.1 -1.08943% 0.0001193080 0.253

20.0!.2014 2473.6 -1.17854% 0.0001395672 0.25

21.0!.2014 2481.41 0.31573% 0.0000097898 0.2482

2.0!.2014 2510.23 1.16144% 0.0001342330 0.252!.0!.2014 2547.54 1.48632% 0.0002200686 0.25

27.0!.2014 2623.91 2.99779% 0.0008969707 0.245

28.0!.2014 2644.12 0.77022% 0.0000588868 0.246

01.07.2014 2565.51 -2.97301% 0.0008855736 0.245

02.07.2014 2558.71 -0.26505% 0.0000071771 0.2401

03.07.2014 2555.67 -0.11881% 0.0000014800 0.241

04.07.2014 2576.46 0.81349% 0.0000657135 0.242


52/186

0.07.2014 2598.19 0.84341% 0.0000706538 0.2421

08.07.2014 2595.02 -0.12201% 0.0000015589 0.245

09.07.2014 2594.48 -0.02081% 0.0000000560 0.2485

10.07.2014 2611.27 0.64714% 0.0000415118 0.245

11.07.2014 2626.55 0.58516% 0.0000339084 0.245

12.07.2014 2638.69 0.46220% 0.0000211008 0.2525

1.07.2014 2660.59 0.82996% 0.0000684111 0.2485

1!.07.2014 2659.44 -0.04322% 0.0000002122 0.253

17.07.2014 2628.92 -1.14761% 0.0001323551 0.257

18.07.2014 2561.07 -2.58091% 0.0006675788 0.2515

19.07.2014 2546.85 -0.55524% 0.0000311457 0.2505

22.07.2014 2584.15 1.46455% 0.0002136588 0.249

23.07.2014 2600.69 0.64006% 0.0000406035 0.254

24.07.2014 2612.92 0.47026% 0.0000218475 0.25

2.07.2014 2605.84 -0.27096% 0.0000074971 0.25

2!.07.2014 2628.85 0.88302% 0.0000774699 0.2491

29.07.2014 2664.17 1.34355% 0.0001797493 0.2529

30.07.2014 2645.6 -0.69703% 0.0000489824 0.249

31.07.2014 2653.75 0.30806% 0.0000093154 0.252

01.08.2014 2668.64 0.56109% 0.0000311638 0.25

02.08.2014 2643.41 -0.94543% 0.0000899220 0.2502

08.08.2014 2631.78 -0.43996% 0.0000196080 0.2551

09.08.2014 2623.95 -0.29752% 0.0000090219 0.2551

12.08.2014 2622.98 -0.03697% 0.0000001585 0.255

13.08.2014 2645.57 0.86123% 0.0000736829 0.2612

14.08.2014 2642.15 -0.12927% 0.0000017456 0.261!.08.2014 2653.57 0.43222% 0.0000184364 0.265

19.08.2014 2684.99 1.18407% 0.0001395277 0.265

20.08.2014 2712.08 1.00894% 0.0001012228 0.27

21.08.2014 2721.69 0.35434% 0.0000123548 0.266

22.08.2014 2714.93 -0.24838% 0.0000063113 0.268

23.08.2014 2720.69 0.21216% 0.0000043812 0.268

2!.08.2014 2702.57 -0.66601% 0.0000447366 0.27

27.08.2014 2689.7 -0.47621% 0.0000229499 0.266

28.08.2014 2697.14 0.27661% 0.0000074947 0.265

29.08.2014 2693.09 -0.15016% 0.0000023411 0.26530.08.2014 2688.66 -0.16450% 0.0000028003 0.265

02.09.2014 2691.84 0.11827% 0.0000013324 0.268

03.09.2014 2691.27 -0.02118% 0.0000000577 0.2715

04.09.2014 2677.34 -0.51760% 0.0000270865 0.28

0.09.2014 2667.44 -0.36977% 0.0000138843 0.2725

0!.09.2014 2684.13 0.62569% 0.0000387938 0.272

09.09.2014 2728.51 1.65342% 0.0002724398 0.27


53/186

10.09.2014 2731.05 0.09309% 0.0000008144 0.2705

11.09.2014 2720.76 -0.37678% 0.0000144115 0.27

12.09.2014 2741.25 0.75310% 0.0000562877 0.27

13.09.2014 2732.27 -0.32759% 0.0000109187 0.27

1!.09.2014 2744.53 0.44871% 0.0000198795 0.2685

17.09.2014 2738.54 -0.21825% 0.0000048885 0.27

18.09.2014 2740.32 0.06500% 0.0000003863 0.2672

19.09.2014 2729.96 -0.37806% 0.0000145089 0.27

20.09.2014 2704.14 -0.94580% 0.0000899934 0.27

23.09.2014 2700.06 -0.15088% 0.0000023632 0.2665

24.09.2014 2649.68 -1.86588% 0.0003492157 0.2655

2.09.2014 2660.67 0.41477% 0.0000169678 0.2714

2!.09.2014 2626.92 -1.26848% 0.0001616266 0.273

27.09.2014 2620.58 -0.24135% 0.0000059631 0.273

30.09.2014 2616.09 -0.17134% 0.0000030340 0.2685

01.10.2014 2631.89 0.60395% 0.0000361331 0.2675

02.10.2014 2641.4 0.36134% 0.0000128515 0.267

03.10.2014 2619.27 -0.83781% 0.0000706710 0.2719

04.10.2014 2637.2 0.68454% 0.0000464708 0.2734

07.10.2014 2654.72 0.66434% 0.0000437574 0.27

08.10.2014 2638.17 -0.62342% 0.0000392208 0.27

09.10.2014 2637.3 -0.03298% 0.0000001283 0.27

10.10.2014 2643.37 0.23016% 0.0000051671 0.2695

11.10.2014 2627.36 -0.60567% 0.0000370288 0.27

14.10.2014 2637.2 0.37452% 0.0000138141 0.271

1.10.2014 2641.36 0.15774% 0.0000023993 0.28851!.10.2014 2671.56 1.14335% 0.0001300748 0.2905

17.10.2014 2687.13 0.58281% 0.0000336352 0.2935

18.10.2014 2697.53 0.38703% 0.0000147597 0.295

21.10.2014 2689.57 -0.29508% 0.0000088763 0.29

22.10.2014 2663.7 -0.96186% 0.0000930667 0.295

23.10.2014 2659.26 -0.16669% 0.0000028741 0.2949

24.10.2014 2660.19 0.03497% 0.0000001032 0.29

2.10.2014 2663.56 0.12668% 0.0000015335 0.28

28.10.2014 2660.29 -0.12277% 0.0000015779 0.2681

29.10.2014 2652.57 -0.29019% 0.0000085873 0.273930.10.2014 2650.57 -0.07540% 0.0000006122 0.2691

31.10.2014 2670.11 0.73720% 0.0000539274 0.271

01.11.2014 2673 0.10824% 0.0000011107 0.277

04.11.2014 2673.92 0.03442% 0.0000000997 0.2782

0.11.2014 2669.1 -0.18026% 0.0000033528 0.2889

07.11.2014 2678.22 0.34169% 0.0000114813 0.29

08.11.2014 2651.7 -0.99021% 0.0000986162 0.2885


54/186

11.11.2014 2630.9 -0.78440% 0.0000619762 0.2862

12.11.2014 2636.79 0.22388% 0.0000048855 0.2899

13.11.2014 2622.17 -0.55446% 0.0000310593 0.2895

14.11.2014 2606.81 -0.58577% 0.0000346475 0.287

1.11.2014 2605.84 -0.03721% 0.0000001605 0.2939

18.11.2014 2595.18 -0.40908% 0.0000169685 0.295

19.11.2014 2600.98 0.22349% 0.0000048684 0.294

20.11.2014 2610.28 0.35756% 0.0000125820 0.291

21.11.2014 2614.08 0.14558% 0.0000020372 0.291

22.11.2014 2612.87 -0.04629% 0.0000002414 0.291

2.11.2014 2607.03 -0.22351% 0.0000051237 0.293

2!.11.2014 2611.23 0.16110% 0.0000025045 0.293

0.0203344102

r med 0.002847% 0.0000903752

0.91%

Riscul

2400

2500

2600

2700

2800

2900

3000

3100

3200

'lutia retului de ic*idere etru idicele B&6

Peri'ada aali,ata

-al'ri


55/186

Ri Pret /P Ri

0.44

-0.955% 0.443 0.682% Cov Bet C, BIO

-1.205% 0.4351 -1.783% Cov Bet C, BIO

0.976% 0.444 2.046%

0.193% 0.4415 -0.563% coef de corelatie bio

0.723% 0.4439 0.544% coef de corelatie !"

-0.431% 0.4531 2.073%

-0.962% 0.467 3.068% coef beta bio

0.000% 0.47 0.642% coef beta !"

0.971% 0.47 0.000%

0.769% 0.465 -1.064%

-0.286% 0.462 -0.645%

-0.478% 0.4518 -2.208%

0.385% 0.452 0.044%-1.820% 0.46 1.770%

0.000% 0.454 -1.304%

0.976% 0.46 1.322%

0.676% 0.4585 -0.326%

0.768% 0.452 -1.418%

0.095% 0.447 -1.106%

-0.095% 0.4393 -1.723%

2.381% 0.4487 2.140%

0.465% 0.446 -0.602%

2.361% 0.446 0.000%3.573% 0.443 -0.673%

0.873% 0.44 -0.677%

0.000% 0.438 -0.455%

-1.948% 0.4358 -0.502%

0.442% 0.4283 -1.721%

-0.659% 0.4352 1.611%

2.655% 0.429 -1.425%

0.000% 0.4291 0.023%

2.586% 0.43 0.210%

0.420% 0.434 0.930%

-0.628% 0.4471 3.018%

-1.053% 0.443 -0.917%

2.128% 0.4521 2.054%

-0.417% 0.448 -0.907%

-1.255% 0.4438 -0.938%

0.424% 0.4465 0.608%

1.266% 0.448 0.336%


56/186

-0.833% 0.442 -1.339%

0.840% 0.4433 0.294%

0.417% 0.4502 1.557%

0.249% 0.45 -0.044%

0.166% 0.451 0.222%

-1.198% 0.452 0.222%

0.376% 0.4508 -0.265%

0.000% 0.4579 1.575%

0.000% 0.457 -0.197%

0.000% 0.47 2.845%

0.000% 0.4705 0.106%

-1.875% 0.462 -1.807%

0.934% 0.466 0.866%

-1.557% 0.4705 0.966%

-1.581% 0.462 -1.807%

-0.564% 0.4545 -1.623%

0.437% 0.46 1.210%

0.435% 0.467 1.522%

-0.433% 0.462 -1.071%

2.174% 0.458 -0.866%

0.000% 0.4506 -1.616%

-1.702% 0.452 0.311%

-0.433% 0.465 2.876%

0.000% 0.467 0.430%

0.000% 0.4665 -0.107%

0.000% 0.4619 -0.986%0.043% 0.457 -1.061%

0.174% 0.4605 0.766%

0.217% 0.465 0.977%

-0.303% 0.4647 -0.065%

0.043% 0.465 0.065%

-0.174% 0.4585 -1.398%

-0.435% 0.461 0.545%

0.655% 0.455 -1.302%

-0.087% 0.455 0.000%

2.041% 0.451 -0.879%-1.064% 0.4402 -2.395%

-0.086% 0.45 2.226%

-0.129% 0.448 -0.444%

-0.647% 0.45 0.446%

-0.130% 0.4649 3.311%

0.043% 0.463 -0.409%

-0.130% 0.46 -0.648%


57/186

-2.130% 0.458 -0.435%

0.400% 0.4511 -1.507%

-3.673% 0.453 0.421%

0.138% 0.453 0.000%

0.917% 0.4326 -4.503%

-0.455% 0.4442 2.681%

3.059% 0.43 -3.197%

4.121% 0.415 -3.488%

2.128% 0.4105 -1.084%

0.042% 0.4098 -0.171%

0.000% 0.41 0.049%

0.458% 0.4196 2.341%

1.368% 0.4229 0.786%

-1.718% 0.426 0.733%

0.083% 0.43 0.939%

0.832% 0.428 -0.465%

1.237% 0.4219 -1.425%

-0.611% 0.4192 -0.640%

0.000% 0.414 -1.240%

0.000% 0.42 1.449%

-0.779% 0.424 0.952%

0.785% 0.42 -0.943%

0.000% 0.4168 -0.762%

0.041% 0.4194 0.624%

0.369% 0.43 2.527%

2.041% 0.4299 -0.023%0.000% 0.43 0.023%

0.400% 0.4245 -1.279%

-0.398% 0.4238 -0.165%

0.000% 0.424 0.047%

0.000% 0.427 0.708%

0.200% 0.4298 0.656%

0.998% 0.4265 -0.768%

-1.186% 0.422 -1.055%

-0.720% 0.4175 -1.066%

0.725% 0.4103 -1.725%0.000% 0.4186 2.023%

-2.000% 0.4212 0.621%

0.408% 0.421 -0.047%

-0.407% 0.4155 -1.306%

-2.000% 0.415 -0.120%

0.375% 0.4156 0.145%

0.415% 0.416 0.096%


58/186

0.041% 0.42 0.962%

1.198% 0.4209 0.214%

1.429% 0.422 0.261%

-1.408% 0.4262 0.995%

0.000% 0.427 0.188%

3.061% 0.429 0.468%

-1.584% 0.4278 -0.280%

1.811% 0.4252 -0.608%

1.581% 0.4289 0.870%

-2.140% 0.4292 0.070%

-0.398% 0.4257 -0.815%

-0.599% 0.43 1.010%

2.008% 0.4251 -1.140%

-1.575% 0.424 -0.259%

0.000% 0.4241 0.024%

-0.360% 0.4235 -0.141%

1.525% 0.424 0.118%

-1.542% 0.424 0.000%

1.205% 0.432 1.887%

-0.794% 0.431 -0.231%

0.080% 0.431 0.000%

1.958% 0.44 2.088%

0.000% 0.4494 2.136%

-0.039% 0.448 -0.312%

2.431% 0.442 -1.339%

-0.459% 0.4389 -0.701%1.923% 0.45 2.529%

0.000% 0.4461 -0.867%

1.887% 0.4499 0.852%

-1.481% 0.45 0.022%

0.752% 0.449 -0.222%

0.000% 0.4452 -0.846%

0.746% 0.445 -0.045%

-1.481% 0.449 0.899%

-0.376% 0.448 -0.223%

0.000% 0.44 -1.786%0.000% 0.435 -1.136%

1.132% 0.435 0.000%

1.306% 0.435 0.000%

3.131% 0.4392 0.966%

-2.679% 0.4372 -0.455%

-0.183% 0.4346 -0.595%

-0.735% 0.4321 -0.575%


59/186

0.185% 0.437 1.134%

-0.185% 0.4365 -0.114%

0.000% 0.436 -0.115%

0.000% 0.431 -1.147%

-0.556% 0.438 1.624%

0.559% 0.44 0.457%

-1.037% 0.435 -1.136%

1.048% 0.4332 -0.414%

0.000% 0.4347 0.346%

-1.296% 0.435 0.069%

-0.375% 0.43 -1.149%

2.222% 0.4481 4.209%

0.590% 0.4435 -1.027%

0.000% 0.4511 1.714%

-1.648% 0.45 -0.244%

-0.372% 0.4475 -0.556%

-0.187% 0.448 0.112%

1.835% 0.4452 -0.625%

0.552% 0.448 0.629%

-1.244% 0.446 -0.446%

0.000% 0.445 -0.224%

0.000% 0.446 0.225%

-0.185% 0.447 0.224%

0.186% 0.4435 -0.783%

0.370% 0.4449 0.316%

6.458% 0.44 -1.101%0.693% 0.44 0.000%

1.033% 0.44 0.000%

0.511% 0.4443 0.977%

-1.695% 0.4421 -0.495%

1.724% 0.436 -1.380%

-0.034% 0.43 -1.376%

-1.662% 0.4305 0.116%

-3.448% 0.4344 0.906%

-4.250% 0.44 1.289%

2.163% 0.4398 -0.045%-1.752% 0.4312 -1.955%

0.706% 0.4375 1.461%

2.214% 0.439 0.343%

0.433% 0.445 1.367%

3.846% 0.449 0.899%

0.381% 0.455 1.336%

-0.517% 0.478 5.055%


60/186

-0.797% 0.475 -0.628%

1.293% 0.4725 -0.526%

-0.138% 0.4778 1.122%

-0.864% 0.4511 -5.588%

2.404% 0.446 -1.131%

0.374% 0.451 1.121%

-0.339% 0.4461 -1.086%

-1.020% 0.45 0.874%

0.000% 0.4545 1.000%

0.000% 0.457 0.550%

0.687% 0.4585 0.328%

0.000% 0.459 0.109%

0.18% 0.028%


61/186

ri-r#ed B$ ri-r#ed bio

0.00000163 0.214224% -0.957501%

0.00001332 0.854421% -1.204819%

-0.079089% 0.975610%

0.0180495049 -0.386612% 0.193237%

0.1473842695 -0.180681% 0.723240%

0.348137% -0.430828%

0.0179662855 &1 act defe!iva 0.023650% -0.961538%

0.146726229 &1 act defe!iva -0.308235% 0.000000%

0.974200% 0.970874%

-0.422363% 0.769231%

0.993737% -0.286260%

0.415027% -0.478469%

0.400260% 0.384615%0.222921% -1.819923%

0.850106% 0.000000%

2.618357% 0.975610%

1.904175% 0.676329%

-0.812613% 0.767754%

2.573213% 0.095238%

1.443446% -0.095147%

-0.168655% 2.380952%

0.980038% 0.465116%

-1.153775% 2.361111%0.003290% 3.573044%

1.379602% 0.873362%

0.962601% 0.000000%

-0.779876% -1.948052%

1.013557% 0.441501%

-0.489321% -0.659341%

-1.070709% 2.654867%

0.068032% 0.000000%

0.212001% 2.586207%

1.035433% 0.420168%

0.346907% -0.627615%

0.847910% -1.052632%

1.018139% 2.127660%

0.472186% -0.416667%

-1.064835% -1.255230%

0.378656% 0.423729%

1.326359% 1.265823%


62/186

0.518832% -0.833333%

0.766154% 0.840336%

-0.489865% 0.416667%

-0.920275% 0.248963%

-1.555300% 0.165563%

0.488716% -1.198347%

-0.067742% 0.376412%

-2.665272% 0.000000%

0.163769% 0.000000%

0.731788% 0.000000%

0.252649% 0.000000%

0.434267% -1.875000%

-1.058705% 0.934183%

-0.553751% -1.556584%

0.724136% -1.581197%

-0.791496% -0.564481%

-0.158878% 0.436681%

0.846413% 0.434783%

0.917574% -0.432900%

0.167209% 2.173913%

0.362729% 0.000000%

1.028795% -1.702128%

0.208137% -0.432900%

-0.726596% 0.000000%

-0.669786% 0.000000%

-0.492346% 0.000000%-0.008136% 0.043478%

-0.939438% 0.173837%

-0.860523% 0.216920%

0.070535% -0.303030%

0.102436% 0.043422%

0.839200% -0.173611%

0.150761% -0.434783%

-0.155887% 0.655022%

-0.994134% -0.086768%

-0.030107% 2.040816%-0.340154% -1.063830%

1.216513% -0.086022%

-0.062246% -0.129143%

-0.059276% -0.646552%

1.053213% -0.130152%

-0.716280% 0.043440%

-0.736391% -0.130265%


63/186

0.613683% -2.130435%

-1.138006% 0.399822%

-2.855288% -3.672566%

-1.925483% 0.137804%

-4.117798% 0.917431%

-1.797420% -0.454545%

-0.244892% 3.059361%

0.218310% 4.120514%

-1.424979% 2.127660%

-0.760972% 0.041667%

2.156330% 0.000000%

-0.832240% 0.458142%

-0.519058% 1.368159%

0.909498% -1.717791%

-0.606208% 0.083229%

0.231296% 0.831601%

-1.200027% 1.237113%

-0.542483% -0.610998%

-3.696603% 0.000000%

-0.936060% 0.000000%

1.119953% -0.778689%

1.544660% 0.784800%

-0.690169% 0.000000%

1.608566% 0.040984%

-0.407215% 0.368701%

-0.293638% 2.040816%0.843378% 0.000000%

0.760277% 0.400000%

-0.914909% -0.398406%

0.225511% 0.000000%

-0.968722% 0.000000%

-0.480663% 0.200000%

-1.092282% 0.998004%

-1.181386% -1.185771%

0.312887% -0.720000%

1.158589% 0.725222%1.483471% 0.000000%

2.994947% -2.000000%

0.767378% 0.408163%

-2.975859% -0.406504%

-0.267901% -2.000000%

-0.121657% 0.374844%

0.810638% 0.414938%


64/186

0.840558% 0.041322%

-0.124855% 1.197852%

-0.023656% 1.428571%

0.644296% -1.408451%

0.582309% 0.000000%

0.459356% 3.061224%

0.827110% -1.584158%

-0.046070% 1.810865%

-1.150457% 1.581028%

-2.583755% -2.140078%

-0.558084% -0.397614%

1.461707% -0.598802%

0.637209% 2.008032%

0.467413% -1.574803%

-0.273808% 0.000000%

0.880170% -0.360000%

1.340706% 1.525492%

-0.699875% -1.542112%

0.305212% 1.204819%

0.558246% -0.793651%

-0.948272% 0.080000%

-0.442809% 1.958433%

-0.300364% 0.000000%

-0.039814% -0.039200%

0.858387% 2.431373%

-0.132120% -0.459418%0.429377% 1.923077%

1.181218% 0.000000%

1.006095% 1.886792%

0.351494% -1.481481%

-0.251222% 0.751880%

0.209313% 0.000000%

-0.668854% 0.746269%

-0.479060% -1.481481%

0.273764% -0.375940%

-0.153006% 0.000000%-0.167342% 0.000000%

0.115428% 1.132075%

-0.024022% 1.305970%

-0.520446% 3.130755%

-0.372617% -2.678571%

0.622847% -0.183486%

1.650575% -0.735294%


65/186

0.090244% 0.185185%

-0.379625% -0.184843%

0.750251% 0.000000%

-0.330435% 0.000000%

0.445864% -0.555556%

-0.221099% 0.558659%

0.062151% -1.037037%

-0.380905% 1.047904%

-0.948648% 0.000000%

-0.153727% -1.296296%

-1.868731% -0.375235%

0.411920% 2.222222%

-1.271324% 0.589536%

-0.244194% 0.000000%

-0.174183% -1.648352%

0.601108% -0.372439%

0.358490% -0.186916%

-0.840660% 1.835206%

0.681695% 0.551673%

0.661494% -1.243599%

-0.626265% 0.000000%

-0.035824% 0.000000%

0.227313% -0.185185%

-0.608513% 0.185529%

0.371673% 0.370370%

0.154896% 6.457565%1.140503% 0.693241%

0.579959% 1.032702%

0.384183% 0.511073%

-0.297932% -1.694915%

-0.964711% 1.724138%

-0.169532% -0.033898%

0.032125% -1.661580%

0.123836% -3.448276%

-0.125615% -4.250000%

-0.293041% 2.163372%-0.078246% -1.752464%

0.734353% 0.706057%

0.105388% 2.214022%

0.031571% 0.433213%

-0.183107% 3.846154%

0.338841% 0.380755%

-0.993057% -0.517241%


66/186

-0.787249% -0.797227%

0.221031% 1.292802%

-0.557309% -0.137979%

-0.588621% -0.863558%

-0.040057% 2.404181%

-0.411928% 0.374277%

0.220644% -0.338983%

0.354711% -1.020408%

0.142731% 0.000000%

-0.049135% 0.000000%

-0.226356% 0.687285%

0.158256% 0.000000%


67/186

ri-r#ed B$ ri-r#ed !"

-0.002051% 0.214224% 0.678971%

-0.010294% 0.854421% -1.783296%

-0.000772% -0.079089% 2.045507%

-0.000747% -0.386612% -0.563063%

-0.001307% -0.180681% 0.543601%

-0.001500% 0.348137% 2.072539%

-0.000227% 0.023650% 3.067755%

0.000000% -0.308235% 0.642398%

0.009458% 0.974200% 0.000000%

-0.003249% -0.422363% -1.063830%

-0.002845% 0.993737% -0.645161%

-0.001986% 0.415027% -2.207792%

0.001539% 0.400260% 0.044267%-0.004057% 0.222921% 1.769912%

0.000000% 0.850106% -1.304348%

0.025545% 2.618357% 1.321586%

0.012878% 1.904175% -0.326087%

-0.006239% -0.812613% -1.417666%

0.002451% 2.573213% -1.106195%

-0.001373% 1.443446% -1.722595%

-0.004016% -0.168655% 2.139768%

0.004558% 0.980038% -0.601738%

-0.027242% -1.153775% 0.000000%0.000118% 0.003290% -0.672646%

0.012049% 1.379602% -0.677201%

0.000000% 0.962601% -0.454545%

0.015192% -0.779876% -0.502283%

0.004475% 1.013557% -1.720973%

0.003226% -0.489321% 1.611020%

-0.028426% -1.070709% -1.424632%

0.000000% 0.068032% 0.023310%

0.005483% 0.212001% 0.209741%

0.004351% 1.035433% 0.930233%

-0.002177% 0.346907% 3.018433%

-0.008925% 0.847910% -0.917021%

0.021663% 1.018139% 2.054176%

-0.001967% 0.472186% -0.906879%

0.013366% -1.064835% -0.937500%

0.001604% 0.378656% 0.608382%

0.016789% 1.326359% 0.335946%

'ri bet- r#ed bet()'ri bio -r#ed bio(


68/186

-0.004324% 0.518832% -1.339286%

0.006438% 0.766154% 0.294118%

-0.002041% -0.489865% 1.556508%

-0.002291% -0.920275% -0.044425%

-0.002575% -1.555300% 0.222222%

-0.005857% 0.488716% 0.221729%

-0.000255% -0.067742% -0.265487%

0.000000% -2.665272% 1.574978%

0.000000% 0.163769% -0.196549%

0.000000% 0.731788% 2.844639%

0.000000% 0.252649% 0.106383%

-0.008143% 0.434267% -1.806589%

-0.009890% -1.058705% 0.865801%

0.008620% -0.553751% 0.965665%

-0.011450% 0.724136% -1.806589%

0.004468% -0.791496% -1.623377%

-0.000694% -0.158878% 1.210121%

0.003680% 0.846413% 1.521739%

-0.003972% 0.917574% -1.070664%

0.003635% 0.167209% -0.865801%

0.000000% 0.362729% -1.615721%

-0.017511% 1.028795% 0.310697%

-0.000901% 0.208137% 2.876106%

0.000000% -0.726596% 0.430108%

0.000000% -0.669786% -0.107066%

0.000000% -0.492346% -0.986066%-0.000004% -0.008136% -1.060836%

-0.001633% -0.939438% 0.765864%

-0.001867% -0.860523% 0.977199%

-0.000214% 0.070535% -0.064516%

0.000044% 0.102436% 0.064558%

-0.001457% 0.839200% -1.397849%

-0.000655% 0.150761% 0.545256%

-0.001021% -0.155887% -1.301518%

0.000863% -0.994134% 0.000000%

-0.000614% -0.030107% -0.879121%0.003619% -0.340154% -2.394678%

-0.001046% 1.216513% 2.226261%

0.000080% -0.062246% -0.444444%

0.000383% -0.059276% 0.446429%

-0.001371% 1.053213% 3.311111%

-0.000311% -0.716280% -0.408690%

0.000959% -0.736391% -0.647948%


69/186

-0.013074% 0.613683% -0.434783%

-0.004550% -1.138006% -1.506550%

0.104862% -2.855288% 0.421193%

-0.002653% -1.925483% 0.000000%

-0.037778% -4.117798% -4.503311%

0.008170% -1.797420% 2.681461%

-0.007492% -0.244892% -3.196758%

0.008996% 0.218310% -3.488372%

-0.030319% -1.424979% -1.084337%

-0.000317% -0.760972% -0.170524%

0.000000% 2.156330% 0.048804%

-0.003813% -0.832240% 2.341463%

-0.007102% -0.519058% 0.786463%

-0.015623% 0.909498% 0.733034%

-0.000505% -0.606208% 0.938967%

0.001923% 0.231296% -0.465116%

-0.014846% -1.200027% -1.425234%

0.003315% -0.542483% -0.639962%

0.000000% -3.696603% -1.240458%

0.000000% -0.936060% 1.449275%

-0.008721% 1.119953% 0.952381%

0.012122% 1.544660% -0.943396%

0.000000% -0.690169% -0.761905%

0.000659% 1.608566% 0.623800%

-0.001501% -0.407215% 2.527420%

-0.005993% -0.293638% -0.023256%0.000000% 0.843378% 0.023261%

0.003041% 0.760277% -1.279070%

0.003645% -0.914909% -0.164900%

0.000000% 0.225511% 0.047192%

0.000000% -0.968722% 0.707547%

-0.000961% -0.480663% 0.655738%

-0.010901% -1.092282% -0.767799%

0.014009% -1.181386% -1.055100%

-0.002253% 0.312887% -1.066351%

0.008402% 1.158589% -1.724551%0.000000% 1.483471% 2.022910%

-0.059899% 2.994947% 0.621118%

0.003132% 0.767378% -0.047483%

0.012097% -2.975859% -1.306413%

0.005358% -0.267901% -0.120337%

-0.000456% -0.121657% 0.144578%

0.003364% 0.810638% 0.096246%


70/186

0.000347% 0.840558% 0.961538%

-0.001496% -0.124855% 0.214286%

-0.000338% -0.023656% 0.261345%

-0.009075% 0.644296% 0.995261%

0.000000% 0.582309% 0.187705%

0.014062% 0.459356% 0.468384%

-0.013103% 0.827110% -0.279720%

-0.000834% -0.046070% -0.607761%

-0.018189% -1.150457% 0.870179%

0.055294% -2.583755% 0.069946%

0.002219% -0.558084% -0.815471%

-0.008753% 1.461707% 1.010101%

0.012795% 0.637209% -1.139535%

-0.007361% 0.467413% -0.258763%

0.000000% -0.273808% 0.023585%

-0.003169% 0.880170% -0.141476%

0.020452% 1.340706% 0.118064%

0.010793% -0.699875% 0.000000%

0.003677% 0.305212% 1.886792%

-0.004431% 0.558246% -0.231481%

-0.000759% -0.948272% 0.000000%

-0.008672% -0.442809% 2.088167%

0.000000% -0.300364% 2.136364%

0.000016% -0.039814% -0.311526%

0.020871% 0.858387% -1.339286%

0.000607% -0.132120% -0.701357%0.008257% 0.429377% 2.529050%

0.000000% 1.181218% -0.866667%

0.018983% 1.006095% 0.851827%

-0.005207% 0.351494% 0.022227%

-0.001889% -0.251222% -0.222222%

0.000000% 0.209313% -0.846325%

-0.004991% -0.668854% -0.044924%

0.007097% -0.479060% 0.898876%

-0.001029% 0.273764% -0.222717%

0.000000% -0.153006% -1.785714%0.000000% -0.167342% -1.136364%

0.001307% 0.115428% 0.000000%

-0.000314% -0.024022% 0.000000%

-0.016294% -0.520446% 0.965517%

0.009981% -0.372617% -0.455373%

-0.001143% 0.622847% -0.594694%

-0.012137% 1.650575% -0.575242%


71/186

0.000167% 0.090244% 1.133997%

0.000702% -0.379625% -0.114416%

0.000000% 0.750251% -0.114548%

0.000000% -0.330435% -1.146789%

-0.002477% 0.445864% 1.624130%

-0.001235% -0.221099% 0.456621%

-0.000645% 0.062151% -1.136364%

-0.003992% -0.380905% -0.413793%

0.000000% -0.948648% 0.346260%

0.001993% -0.153727% 0.069013%

0.007012% -1.868731% -1.149425%

0.009154% 0.411920% 4.209302%

-0.007495% -1.271324% -1.026557%

0.000000% -0.244194% 1.713641%

0.002871% -0.174183% -0.243848%

-0.002239% 0.601108% -0.555556%

-0.000670% 0.358490% 0.111732%

-0.015428% -0.840660% -0.625000%

0.003761% 0.681695% 0.628931%

-0.008226% 0.661494% -0.446429%

0.000000% -0.626265% -0.224215%

0.000000% -0.035824% 0.224719%

-0.000421% 0.227313% 0.224215%

-0.001129% -0.608513% -0.782998%

0.001377% 0.371673% 0.315671%

0.010003% 0.154896% -1.101371%0.007906% 1.140503% 0.000000%

0.005989% 0.579959% 0.000000%

0.001963% 0.384183% 0.977273%

0.005050% -0.297932% -0.495161%

-0.016633% -0.964711% -1.379778%

0.000057% -0.169532% -1.376147%

-0.000534% 0.032125% 0.116279%

-0.004270% 0.123836% 0.905923%

0.005339% -0.125615% 1.289134%

-0.006340% -0.293041% -0.045455%0.001371% -0.078246% -1.955434%

0.005185% 0.734353% 1.461039%

0.002333% 0.105388% 0.342857%

0.000137% 0.031571% 1.366743%

-0.007043% -0.183107% 0.898876%

0.001290% 0.338841% 1.336303%

0.005137% -0.993057% 5.054945%


72/186

0.006276% -0.787249% -0.627615%

0.002857% 0.221031% -0.526316%

0.000769% -0.557309% 1.121693%

0.005083% -0.588621% -5.588112%

-0.000963% -0.040057% -1.130570%

-0.001542% -0.411928% 1.121076%

-0.000748% 0.220644% -1.086475%

-0.003619% 0.354711% 0.874243%

0.000000% 0.142731% 1.000000%

0.000000% -0.049135% 0.550055%

-0.001556% -0.226356% 0.328228%

0.000000% 0.158256% 0.109051%

0.0003!3338

eta i i' 0.0179!!28 eta i s


73/186

'ri bet- r#ed bet()'ri bio - r#ed bio(

0.001455%

-0.015237%

-0.001618%

0.002177%

-0.000982%

0.007215%

0.000726%

-0.001980%

0.000000%

0.004493%

-0.006411%

-0.009163%

0.000177%0.003946%

-0.011088%

0.034604%

-0.006209%

0.011520%

-0.028465%

-0.024865%

-0.003609%

-0.005897%

0.000000%-0.000022%

-0.009343%

-0.004375%

0.003917%

-0.017443%

-0.007883%

0.015254%

0.000016%

0.000445%

0.009632%

0.010471%

-0.007776%

0.020914%

-0.004282%

0.009983%

0.002304%

0.004456%


74/186

-0.006949%

0.002253%

-0.007625%

0.000409%

-0.003456%

0.001084%

0.000180%

-0.041977%

-0.000322%

0.020817%

0.000269%

-0.007845%

-0.009166%

-0.005347%

-0.013082%

0.012849%

-0.001923%

0.012880%

-0.009824%

-0.001448%

-0.005861%

0.003196%

0.005986%

-0.003125%

0.000717%

0.004855%0.000086%

-0.007195%

-0.008409%

-0.000046%

0.000066%

-0.011731%

0.000822%

0.002029%

0.000000%

0.000265%0.008146%

0.027083%

0.000277%

-0.000265%

0.034873%

0.002927%

0.004771%


75/186

-0.002668%

0.017145%

-0.012026%

0.000000%

0.185437%

-0.048197%

0.007829%

-0.007615%

0.015452%

0.001298%

0.001052%

-0.019487%

-0.004082%

0.006667%

-0.005692%

-0.001076%

0.017103%

0.003472%

0.045855%

-0.013566%

0.010666%

-0.014572%

0.005258%

0.010034%

-0.010292%

0.000068%0.000196%

-0.009724%

0.001509%

0.000106%

-0.006854%

-0.003152%

0.008387%

0.012465%

-0.003336%

-0.019980%0.030009%

0.018602%

-0.000364%

0.038877%

0.000322%

-0.000176%

0.000780%


76/186

0.008082%

-0.000268%

-0.000062%

0.006412%

0.001093%

0.002152%

-0.002314%

0.000280%

-0.010011%

-0.001807%

0.004551%

0.014765%

-0.007261%

-0.001209%

-0.000065%

-0.001245%

0.001583%

0.000000%

0.005759%

-0.001292%

0.000000%

-0.009247%

-0.006417%

0.000124%

-0.011496%

0.000927%0.010859%

-0.010237%

0.008570%

0.000078%

0.000558%

-0.001771%

0.000300%

-0.004306%

-0.000610%

0.002732%0.001902%

0.000000%

0.000000%

-0.005025%

0.001697%

-0.003704%

-0.009495%


77/186

0.001023%

0.000434%

-0.000859%

0.003789%

0.007241%

-0.001010%

-0.000706%

0.001576%

-0.003285%

-0.000106%

0.021480%

0.017339%

0.013051%

-0.004185%

0.000425%

-0.003339%

0.000401%

0.005254%

0.004287%

-0.002953%

0.001404%

-0.000081%

0.000510%

0.004765%

0.001173%

-0.001706%0.000000%

0.000000%

0.003755%

0.001475%

0.013311%

0.002333%

0.000037%

0.001122%

-0.001619%

0.000133%0.001530%

0.010729%

0.000361%

0.000431%

-0.001646%

0.004528%

-0.050198%


78/186

0.004941%

-0.001163%

-0.006251%

0.032893%

0.000453%

-0.004618%

-0.002397%

0.003101%

0.001427%

-0.000270%

-0.000743%

0.000173%

0.002983913

0.14!72!229


79/186

Data Pret BIO Ri (R-Ri med)^2 Premiul de risc

03.01.2014 0.2095

04.01.2014 0.2075 -0.955% 0.000124 -1.455%

07.01.2014 0.205 -1.205% 0.000186 -1.684%

08.01.2014 0.207 0.976% 0.000067 0.496%

09.01.2014 0.2074 0.193% 0.000000 -0.286%10.01.2014 0.2089 0.723% 0.000032 0.244%

11.01.2014 0.208 -0.431% 0.000035 -0.910%

14.01.2014 0.206 -0.962% 0.000125 -1.441%

1.01.2014 0.206 0.000% 0.000003 -0.479%

1!.01.2014 0.208 0.971% 0.000066 0.492%

17.01.2014 0.2096 0.769% 0.000037 0.290%

18.01.2014 0.209 -0.286% 0.000020 -0.765%

21.01.2014 0.208 -0.478% 0.000041 -0.958%

22.01.2014 0.2088 0.385% 0.000005 -0.095%

23.01.2014 0.205 -1.820% 0.000391 -2.299%

24.01.2014 0.205 0.000% 0.000003 -0.479%

2.01.2014 0.207 0.976% 0.000067 0.496%

28.01.2014 0.2084 0.676% 0.000027 0.197%

29.01.2014 0.21 0.768% 0.000037 0.289%

30.01.2014 0.2102 0.095% 0.000000 -0.384%

31.01.2014 0.21 -0.095% 0.000006 -0.574%

01.02.2014 0.215 2.381% 0.000494 1.902%

04.02.2014 0.216 0.465% 0.000009 0.007%

0.02.2014 0.2211 2.361% 0.000485 1.903%

0!.02.2014 0.229 3.573% 0.001166 3.115%

07.02.2014 0.231 0.873% 0.000051 0.415%

08.02.2014 0.231 0.000% 0.000003 -0.458%

11.02.2014 0.2265 -1.948% 0.000444 -2.406%

12.02.2014 0.2275 0.442% 0.000008 -0.017%

13.02.2014 0.226 -0.659% 0.000067 -1.118%

14.02.2014 0.232 2.655% 0.000623 2.197%

1.02.2014 0.232 0.000% 0.000003 -0.458%

18.02.2014 0.238 2.586% 0.000589 2.128%

19.02.2014 0.239 0.420% 0.000007 -0.038%20.02.2014 0.2375 -0.628% 0.000062 -1.086%

21.02.2014 0.235 -1.053% 0.000147 -1.511%

22.02.2014 0.24 2.128% 0.000388 1.669%

2.02.2014 0.239 -0.417% 0.000033 -0.875%

2!.02.2014 0.236 -1.255% 0.000200 -1.714%

27.02.2014 0.237 0.424% 0.000007 -0.035%

28.02.2014 0.24 1.266% 0.000123 0.807%


80/186

01.03.2014 0.238 -0.833% 0.000098 -1.292%

04.03.2014 0.24 0.840% 0.000046 0.382%

0.03.2014 0.241 0.417% 0.000007 -0.042%

0!.03.2014 0.2416 0.249% 0.000001 -0.209%

07.03.2014 0.242 0.166% 0.000000 -0.293%

08.03.2014 0.2391 -1.198% 0.000184 -1.657%

11.03.2014 0.24 0.376% 0.000005 -0.082%

12.03.2014 0.24 0.000% 0.000003 -0.458%

13.03.2014 0.24 0.000% 0.000003 -0.458%

14.03.2014 0.24 0.000% 0.000003 -0.458%

1.03.2014 0.24 0.000% 0.000003 -0.458%

18.03.2014 0.2355 -1.875% 0.000413 -2.333%

19.03.2014 0.2377 0.934% 0.000060 0.476%

20.03.2014 0.234 -1.557% 0.000294 -2.015%

21.03.2014 0.2303 -1.581% 0.000303 -2.040%

22.03.2014 0.229 -0.564% 0.000052 -1.023%

2.03.2014 0.23 0.437% 0.000008 -0.022%

2!.03.2014 0.231 0.435% 0.000008 -0.024%

27.03.2014 0.23 -0.433% 0.000035 -0.891%

28.03.2014 0.235 2.174% 0.000406 1.716%

29.03.2014 0.235 0.000% 0.000003 -0.458%

01.04.2014 0.231 -1.702% 0.000346 -2.140%

02.04.2014 0.23 -0.433% 0.000035 -0.870%

03.04.2014 0.23 0.000% 0.000003 -0.438%

04.04.2014 0.23 0.000% 0.000003 -0.438%

0.04.2014 0.23 0.000% 0.000003 -0.438%08.04.2014 0.2301 0.043% 0.000001 -0.394%

09.04.2014 0.2305 0.174% 0.000000 -0.264%

10.04.2014 0.231 0.217% 0.000000 -0.221%

11.04.2014 0.2303 -0.303% 0.000021 -0.741%

12.04.2014 0.2304 0.043% 0.000001 -0.394%

1.04.2014 0.23 -0.174% 0.000011 -0.611%

1!.04.2014 0.229 -0.435% 0.000035 -0.872%

17.04.2014 0.2305 0.655% 0.000025 0.218%

19.04.2014 0.2303 -0.087% 0.000006 -0.524%

22.04.2014 0.235 2.041% 0.000354 1.603%23.04.2014 0.2325 -1.064% 0.000149 -1.501%

24.04.2014 0.2323 -0.086% 0.000006 -0.524%

2.04.2014 0.232 -0.129% 0.000008 -0.567%

2!.04.2014 0.2305 -0.647% 0.000065 -1.084%

29.04.2014 0.2302 -0.130% 0.000008 -0.568%

30.04.2014 0.2303 0.043% 0.000001 -0.394%

02.0.2014 0.23 -0.130% 0.000008 -0.568%


81/186

03.0.2014 0.2251 -2.130% 0.000524 -2.568%

07.0.2014 0.226 0.400% 0.000006 -0.038%

08.0.2014 0.2177 -3.673% 0.001468 -4.110%

09.0.2014 0.218 0.138% 0.000000 -0.300%

10.0.2014 0.22 0.917% 0.000058 0.480%

13.0.2014 0.219 -0.455% 0.000038 -0.892%

14.0.2014 0.2257 3.059% 0.000842 2.622%

1.0.2014 0.235 4.121% 0.001570 3.683%

1!.0.2014 0.24 2.128% 0.000388 1.690%

17.0.2014 0.2401 0.042% 0.000001 -0.396%

20.0.2014 0.2401 0.000% 0.000003 -0.438%

21.0.2014 0.2412 0.458% 0.000009 0.021%

22.0.2014 0.2445 1.368% 0.000146 0.931%

23.0.2014 0.2403 -1.718% 0.000352 -2.155%

24.0.2014 0.2405 0.083% 0.000001 -0.354%

27.0.2014 0.2425 0.832% 0.000045 0.394%

28.0.2014 0.2455 1.237% 0.000116 0.800%

29.0.2014 0.244 -0.611% 0.000059 -1.048%

30.0.2014 0.244 0.000% 0.000003 -0.438%

31.0.2014 0.244 0.000% 0.000003 -0.438%

03.0!.2014 0.2421 -0.779% 0.000088 -1.216%

04.0!.2014 0.244 0.785% 0.000039 0.347%

0.0!.2014 0.244 0.000% 0.000003 -0.438%

0!.0!.2014 0.2441 0.041% 0.000001 -0.397%

07.0!.2014 0.245 0.369% 0.000004 -0.069%

10.0!.2014 0.25 2.041% 0.000354 1.603%11.0!.2014 0.25 0.000% 0.000003 -0.438%

12.0!.2014 0.251 0.400% 0.000006 -0.037%

13.0!.2014 0.25 -0.398% 0.000031 -0.836%

14.0!.2014 0.25 0.000% 0.000003 -0.438%

17.0!.2014 0.25 0.000% 0.000003 -0.438%

18.0!.2014 0.2505 0.200% 0.000000 -0.238%

19.0!.2014 0.253 0.998% 0.000070 0.561%

20.0!.2014 0.25 -1.186% 0.000181 -1.623%

21.0!.2014 0.2482 -0.720% 0.000077 -1.158%

2.0!.2014 0.25 0.725% 0.000032 0.288%2!.0!.2014 0.25 0.000% 0.000003 -0.438%

27.0!.2014 0.245 -2.000% 0.000466 -2.438%

28.0!.2014 0.246 0.408% 0.000006 -0.029%

01.07.2014 0.245 -0.407% 0.000032 -0.844%

02.07.2014 0.2401 -2.000% 0.000466 -2.438%

03.07.2014 0.241 0.375% 0.000005 -0.063%

04.07.2014 0.242 0.415% 0.000007 -0.023%


82/186

0.07.2014 0.2421 0.041% 0.000001 -0.396%

08.07.2014 0.245 1.198% 0.000108 0.760%

09.07.2014 0.2485 1.429% 0.000161 0.991%

10.07.2014 0.245 -1.408% 0.000246 -1.846%

11.07.2014 0.245 0.000% 0.000003 -0.438%

12.07.2014 0.2525 3.061% 0.000843 2.624%

1.07.2014 0.2485 -1.584% 0.000304 -2.022%

1!.07.2014 0.253 1.811% 0.000273 1.373%

17.07.2014 0.257 1.581% 0.000202 1.144%

18.07.2014 0.2515 -2.140% 0.000528 -2.578%

19.07.2014 0.2505 -0.398% 0.000031 -0.835%

22.07.2014 0.249 -0.599% 0.000057 -1.036%

23.07.2014 0.254 2.008% 0.000342 1.571%

24.07.2014 0.25 -1.575% 0.000300 -2.012%

2.07.2014 0.25 0.000% 0.000003 -0.438%

2!.07.2014 0.2491 -0.360% 0.000027 -0.798%

29.07.2014 0.2529 1.525% 0.000187 1.088%

30.07.2014 0.249 -1.542% 0.000289 -1.980%

31.07.2014 0.252 1.205% 0.000109 0.767%

01.08.2014 0.25 -0.794% 0.000091 -1.231%

02.08.2014 0.2502 0.080% 0.000001 -0.358%

08.08.2014 0.2551 1.958% 0.000324 1.521%

09.08.2014 0.2551 0.000% 0.000003 -0.438%

12.08.2014 0.255 -0.039% 0.000004 -0.477%

13.08.2014 0.2612 2.431% 0.000517 1.994%

14.08.2014 0.26 -0.459% 0.000038 -0.897%1!.08.2014 0.265 1.923% 0.000311 1.486%

19.08.2014 0.265 0.000% 0.000003 -0.438%

20.08.2014 0.27 1.887% 0.000299 1.449%

21.08.2014 0.266 -1.481% 0.000269 -1.919%

22.08.2014 0.268 0.752% 0.000035 0.314%

23.08.2014 0.268 0.000% 0.000003 -0.438%

2!.08.2014 0.27 0.746% 0.000035 0.309%

27.08.2014 0.266 -1.481% 0.000269 -1.919%

28.08.2014 0.265 -0.376% 0.000029 -0.813%

29.08.2014 0.265 0.000% 0.000003 -0.438%30.08.2014 0.265 0.000% 0.000003 -0.438%

02.09.2014 0.268 1.132% 0.000095 0.695%

03.09.2014 0.2715 1.306% 0.000132 0.868%

04.09.2014 0.28 3.131% 0.000883 2.693%

0.09.2014 0.2725 -2.679% 0.000805 -3.116%

0!.09.2014 0.272 -0.183% 0.000012 -0.621%

09.09.2014 0.27 -0.735% 0.000080 -1.173%


83/186

10.09.2014 0.2705 0.185% 0.000000 -0.252%

11.09.2014 0.27 -0.185% 0.000012 -0.622%

12.09.2014 0.27 0.000% 0.000003 -0.438%

13.09.2014 0.27 0.000% 0.000003 -0.438%

1!.09.2014 0.2685 -0.556% 0.000051 -0.993%

17.09.2014 0.27 0.559% 0.000016 0.121%

18.09.2014 0.2672 -1.037% 0.000143 -1.475%

19.09.2014 0.27 1.048% 0.000079 0.610%

20.09.2014 0.27 0.000% 0.000003 -0.438%

23.09.2014 0.2665 -1.296% 0.000212 -1.734%

24.09.2014 0.2655 -0.375% 0.000028 -0.813%

2.09.2014 0.2714 2.222% 0.000426 1.785%

2!.09.2014 0.273 0.590% 0.000019 0.152%

27.09.2014 0.273 0.000% 0.000003 -0.438%

30.09.2014 0.2685 -1.648% 0.000326 -2.086%

01.10.2014 0.2675 -0.372% 0.000028 -0.810%

02.10.2014 0.267 -0.187% 0.000012 -0.624%

03.10.2014 0.2719 1.835% 0.000281 1.398%

04.10.2014 0.2734 0.552% 0.000015 0.114%

07.10.2014 0.27 -1.244% 0.000197 -1.681%

08.10.2014 0.27 0.000% 0.000003 -0.438%

09.10.2014 0.27 0.000% 0.000003 -0.438%

10.10.2014 0.2695 -0.185% 0.000012 -0.623%

11.10.2014 0.27 0.186% 0.000000 -0.252%

14.10.2014 0.271 0.370% 0.000004 -0.067%

1.10.2014 0.2885 6.458% 0.003968 6.020%1!.10.2014 0.2905 0.693% 0.000029 0.256%

17.10.2014 0.2935 1.033% 0.000076 0.595%

18.10.2014 0.295 0.511% 0.000012 0.074%

21.10.2014 0.29 -1.695% 0.000344 -2.132%

22.10.2014 0.295 1.724% 0.000245 1.287%

23.10.2014 0.2949 -0.034% 0.000004 -0.471%

24.10.2014 0.29 -1.662% 0.000331 -2.099%

2.10.2014 0.28 -3.448% 0.001301 -3.886%

28.10.2014 0.2681 -4.250% 0.001943 -4.688%

29.10.2014 0.2739 2.163% 0.000402 1.726%30.10.2014 0.2691 -1.752% 0.000365 -2.190%

31.10.2014 0.271 0.706% 0.000030 0.269%

01.11.2014 0.277 2.214% 0.000423 1.777%

04.11.2014 0.2782 0.433% 0.000008 -0.004%

0.11.2014 0.2889 3.846% 0.001360 3.409%

07.11.2014 0.29 0.381% 0.000005 -0.057%

08.11.2014 0.2885 -0.517% 0.000046 -0.955%


84/186

11.11.2014 0.2862 -0.797% 0.000091 -1.235%

12.11.2014 0.2899 1.293% 0.000129 0.855%

13.11.2014 0.2895 -0.138% 0.000009 -0.575%

14.11.2014 0.287 -0.864% 0.000104 -1.301%

1.11.2014 0.2939 2.404% 0.000504 1.967%

18.11.2014 0.295 0.374% 0.000005 -0.063%

19.11.2014 0.294 -0.339% 0.000025 -0.776%

20.11.2014 0.291 -1.020% 0.000139 -1.458%

21.11.2014 0.291 0.000% 0.000003 -0.438%

22.11.2014 0.291 0.000% 0.000003 -0.438%

2.11.2014 0.293 0.687% 0.000028 0.250%

2!.11.2014 0.293 0.000% 0.000003 -0.438%

0.038773

"#era$e (Ri med) 0.18% 0.000172

Riscul 1.3127%


85/186

Data Pret /P Ri (Ri - Ri med)^2

03.01.2014 0.44

04.01.2014 0.443 0.682% 0.000043

07.01.2014 0.4351 -1.783% 0.000328

08.01.2014 0.444 2.046% 0.000407

09.01.2014 0.4415 -0.563% 0.00003510.01.2014 0.4439 0.544% 0.000027

11.01.2014 0.4531 2.073% 0.000418

14.01.2014 0.467 3.068% 0.000924

1.01.2014 0.47 0.642% 0.000038

1!.01.2014 0.47 0.000% 0.000000

17.01.2014 0.465 -1.064% 0.000119

18.01.2014 0.462 -0.645% 0.000045

21.01.2014 0.4518 -2.208% 0.000500

22.01.2014 0.452 0.044% 0.000000

23.01.2014 0.46 1.770% 0.000304

24.01.2014 0.454 -1.304% 0.000177

2.01.2014 0.46 1.322% 0.000167

28.01.2014 0.4585 -0.326% 0.000013

29.01.2014 0.452 -1.418% 0.000209

30.01.2014 0.447 -1.106% 0.000129

31.01.2014 0.4393 -1.723% 0.000306

01.02.2014 0.4487 2.140% 0.000446

04.02.2014 0.446 -0.602% 0.000040

0.02.2014 0.446 0.000% 0.000000

0!.02.2014 0.443 -0.673% 0.000049

07.02.2014 0.44 -0.677% 0.0000

analiza actiunilor bio si snp folosind metoda capm1

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