Paying users zone. Data is covered by hidden.

  • Get to Apple Inc. for $19.99, or

  • get to whole website for at least 3 months from $49.99.

Microsoft Excel LibreOffice Calc


Capital Asset Pricing Model (CAPM)

Difficulty: Intermediate


Rates of Return

Apple Inc., monthly rates of return

Microsoft Excel LibreOffice Calc
Apple Inc. (AAPL) Standard & Poor's 500 (S&P 500)
t Date PriceAAPL,t1 DividendAAPL,t1 RAAPL,t2 PriceS&P 500,t RS&P 500,t3
Oct 31, 2011 hidden hidden
1. Nov 30, 2011 hidden hidden% hidden hidden%
2. Dec 31, 2011 hidden hidden% hidden hidden%
3. Jan 31, 2012 hidden hidden% hidden hidden%
. . . . . . .
. . . . . . .
. . . . . . .
70. Aug 31, 2017 hidden hidden hidden% hidden hidden%
71. Sep 30, 2017 hidden hidden% hidden hidden%
Average: hidden% hidden%
Standard Deviation: hidden% hidden%
Apple Inc. (AAPL) Standard & Poor's 500 (S&P 500)
t Date PriceAAPL,t1 DividendAAPL,t1 RAAPL,t2 PriceS&P 500,t RS&P 500,t3
Oct 31, 2011 hidden hidden
1. Nov 30, 2011 hidden hidden% hidden hidden%
2. Dec 31, 2011 hidden hidden% hidden hidden%
3. Jan 31, 2012 hidden hidden% hidden hidden%
4. Feb 29, 2012 hidden hidden% hidden hidden%
5. Mar 31, 2012 hidden hidden% hidden hidden%
6. Apr 30, 2012 hidden hidden% hidden hidden%
7. May 31, 2012 hidden hidden% hidden hidden%
8. Jun 30, 2012 hidden hidden% hidden hidden%
9. Jul 31, 2012 hidden hidden% hidden hidden%
10. Aug 31, 2012 hidden hidden hidden% hidden hidden%
11. Sep 30, 2012 hidden hidden% hidden hidden%
12. Oct 31, 2012 hidden hidden% hidden hidden%
13. Nov 30, 2012 hidden hidden hidden% hidden hidden%
14. Dec 31, 2012 hidden hidden% hidden hidden%
15. Jan 31, 2013 hidden hidden% hidden hidden%
16. Feb 28, 2013 hidden hidden hidden% hidden hidden%
17. Mar 31, 2013 hidden hidden% hidden hidden%
18. Apr 30, 2013 hidden hidden% hidden hidden%
19. May 31, 2013 hidden hidden hidden% hidden hidden%
20. Jun 30, 2013 hidden hidden% hidden hidden%
21. Jul 31, 2013 hidden hidden% hidden hidden%
22. Aug 31, 2013 hidden hidden hidden% hidden hidden%
23. Sep 30, 2013 hidden hidden% hidden hidden%
24. Oct 31, 2013 hidden hidden% hidden hidden%
25. Nov 30, 2013 hidden hidden hidden% hidden hidden%
26. Dec 31, 2013 hidden hidden% hidden hidden%
27. Jan 31, 2014 hidden hidden% hidden hidden%
28. Feb 28, 2014 hidden hidden hidden% hidden hidden%
29. Mar 31, 2014 hidden hidden% hidden hidden%
30. Apr 30, 2014 hidden hidden% hidden hidden%
31. May 31, 2014 hidden hidden hidden% hidden hidden%
32. Jun 30, 2014 hidden hidden% hidden hidden%
33. Jul 31, 2014 hidden hidden% hidden hidden%
34. Aug 31, 2014 hidden hidden hidden% hidden hidden%
35. Sep 30, 2014 hidden hidden% hidden hidden%
36. Oct 31, 2014 hidden hidden% hidden hidden%
37. Nov 30, 2014 hidden hidden hidden% hidden hidden%
38. Dec 31, 2014 hidden hidden% hidden hidden%
39. Jan 31, 2015 hidden hidden% hidden hidden%
40. Feb 28, 2015 hidden hidden hidden% hidden hidden%
41. Mar 31, 2015 hidden hidden% hidden hidden%
42. Apr 30, 2015 hidden hidden% hidden hidden%
43. May 31, 2015 hidden hidden hidden% hidden hidden%
44. Jun 30, 2015 hidden hidden% hidden hidden%
45. Jul 31, 2015 hidden hidden% hidden hidden%
46. Aug 31, 2015 hidden hidden hidden% hidden hidden%
47. Sep 30, 2015 hidden hidden% hidden hidden%
48. Oct 31, 2015 hidden hidden% hidden hidden%
49. Nov 30, 2015 hidden hidden hidden% hidden hidden%
50. Dec 31, 2015 hidden hidden% hidden hidden%
51. Jan 31, 2016 hidden hidden% hidden hidden%
52. Feb 29, 2016 hidden hidden hidden% hidden hidden%
53. Mar 31, 2016 hidden hidden% hidden hidden%
54. Apr 30, 2016 hidden hidden% hidden hidden%
55. May 31, 2016 hidden hidden hidden% hidden hidden%
56. Jun 30, 2016 hidden hidden% hidden hidden%
57. Jul 31, 2016 hidden hidden% hidden hidden%
58. Aug 31, 2016 hidden hidden hidden% hidden hidden%
59. Sep 30, 2016 hidden hidden% hidden hidden%
60. Oct 31, 2016 hidden hidden% hidden hidden%
61. Nov 30, 2016 hidden hidden hidden% hidden hidden%
62. Dec 31, 2016 hidden hidden% hidden hidden%
63. Jan 31, 2017 hidden hidden% hidden hidden%
64. Feb 28, 2017 hidden hidden hidden% hidden hidden%
65. Mar 31, 2017 hidden hidden% hidden hidden%
66. Apr 30, 2017 hidden hidden% hidden hidden%
67. May 31, 2017 hidden hidden hidden% hidden hidden%
68. Jun 30, 2017 hidden hidden% hidden hidden%
69. Jul 31, 2017 hidden hidden% hidden hidden%
70. Aug 31, 2017 hidden hidden hidden% hidden hidden%
71. Sep 30, 2017 hidden hidden% hidden hidden%
Average: hidden% hidden%
Standard Deviation: hidden% hidden%

Show All

1 Data in USD $ per share of common stock, adjusted for splits and stock dividends.

2 Rate of return on common stock of AAPL during period t

3 Rate of return on S&P 500 (the market portfolio proxy) during period t


Systematic Risk (β) Estimation

Microsoft Excel LibreOffice Calc
VarianceAAPL hidden
VarianceS&P 500 hidden
CovarianceAAPL, S&P 500 hidden
Correlation CoefficientAAPL, S&P 5001 hidden
βAAPL2 hidden
αAAPL3 hidden

Calculations

1 CovarianceAAPL, S&P 500 ÷ (Standard DeviationAAPL × Standard DeviationS&P 500)
= hidden ÷ (hidden × hidden)

2 CovarianceAAPL, S&P 500 ÷ VarianceS&P 500
= hidden ÷ hidden

3 AverageAAPL – βAAPL × AverageS&P 500
= hiddenhidden × hidden


Expected Rate of Return

Microsoft Excel LibreOffice Calc
Assumptions
Rate of return on LT Treasury Composite1 RF hidden%
Expected rate of return on market portfolio2 E(RM) hidden%
Systematic risk (β) of Apple's common stock βAAPL hidden
Expected rate of return on Apple's common stock3 E(RAAPL) hidden%

1 Unweighted average of bid yields on all outstanding fixed-coupon U.S. Treasury bonds neither due or callable in less than 10 years (risk-free rate of return proxy).

Calculations

2 See Details »

3 E(RAAPL) = RF + βAAPL [E(RM) – RF]
= hidden% + hidden [hidden% – hidden%]
= hidden%