Stock Analysis on Net

Dollar General Corp. (NYSE:DG)

$22.49

This company has been moved to the archive! The financial data has not been updated since August 31, 2023.

Capital Asset Pricing Model (CAPM)

Microsoft Excel

Capital asset pricing model (CAPM) indicates what should be the expected or required rate of return on risky assets like Dollar General Corp. common stock.

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Rates of Return

Dollar General Corp., monthly rates of return

Microsoft Excel
Dollar General Corp. (DG) Standard & Poor’s 500 (S&P 500)
t Date PriceDG,t1 DividendDG,t1 RDG,t2 PriceS&P 500,t RS&P 500,t3
Feb 28, 2017
1. Mar 31, 2017
2. Apr 30, 2017
3. May 31, 2017
. . . . . . .
. . . . . . .
. . . . . . .
70. Dec 31, 2022
71. Jan 31, 2023
Average (R):
Standard deviation:
Dollar General Corp. (DG) Standard & Poor’s 500 (S&P 500)
t Date PriceDG,t1 DividendDG,t1 RDG,t2 PriceS&P 500,t RS&P 500,t3
Feb 28, 2017
1. Mar 31, 2017
2. Apr 30, 2017
3. May 31, 2017
4. Jun 30, 2017
5. Jul 31, 2017
6. Aug 31, 2017
7. Sep 30, 2017
8. Oct 31, 2017
9. Nov 30, 2017
10. Dec 31, 2017
11. Jan 31, 2018
12. Feb 28, 2018
13. Mar 31, 2018
14. Apr 30, 2018
15. May 31, 2018
16. Jun 30, 2018
17. Jul 31, 2018
18. Aug 31, 2018
19. Sep 30, 2018
20. Oct 31, 2018
21. Nov 30, 2018
22. Dec 31, 2018
23. Jan 31, 2019
24. Feb 28, 2019
25. Mar 31, 2019
26. Apr 30, 2019
27. May 31, 2019
28. Jun 30, 2019
29. Jul 31, 2019
30. Aug 31, 2019
31. Sep 30, 2019
32. Oct 31, 2019
33. Nov 30, 2019
34. Dec 31, 2019
35. Jan 31, 2020
36. Feb 29, 2020
37. Mar 31, 2020
38. Apr 30, 2020
39. May 31, 2020
40. Jun 30, 2020
41. Jul 31, 2020
42. Aug 31, 2020
43. Sep 30, 2020
44. Oct 31, 2020
45. Nov 30, 2020
46. Dec 31, 2020
47. Jan 31, 2021
48. Feb 28, 2021
49. Mar 31, 2021
50. Apr 30, 2021
51. May 31, 2021
52. Jun 30, 2021
53. Jul 31, 2021
54. Aug 31, 2021
55. Sep 30, 2021
56. Oct 31, 2021
57. Nov 30, 2021
58. Dec 31, 2021
59. Jan 31, 2022
60. Feb 28, 2022
61. Mar 31, 2022
62. Apr 30, 2022
63. May 31, 2022
64. Jun 30, 2022
65. Jul 31, 2022
66. Aug 31, 2022
67. Sep 30, 2022
68. Oct 31, 2022
69. Nov 30, 2022
70. Dec 31, 2022
71. Jan 31, 2023
Average (R):
Standard deviation:

Show all

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

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

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


Variance and Covariance

Dollar General Corp., calculation of variance and covariance of returns

Microsoft Excel
t Date RDG,t RS&P 500,t (RDG,tRDG)2 (RS&P 500,tRS&P 500)2 (RDG,tRDG)×(RS&P 500,tRS&P 500)
1. Mar 31, 2017
2. Apr 30, 2017
3. May 31, 2017
. . . . . . .
. . . . . . .
. . . . . . .
70. Dec 31, 2022
71. Jan 31, 2023
Total (Σ):
t Date RDG,t RS&P 500,t (RDG,tRDG)2 (RS&P 500,tRS&P 500)2 (RDG,tRDG)×(RS&P 500,tRS&P 500)
1. Mar 31, 2017
2. Apr 30, 2017
3. May 31, 2017
4. Jun 30, 2017
5. Jul 31, 2017
6. Aug 31, 2017
7. Sep 30, 2017
8. Oct 31, 2017
9. Nov 30, 2017
10. Dec 31, 2017
11. Jan 31, 2018
12. Feb 28, 2018
13. Mar 31, 2018
14. Apr 30, 2018
15. May 31, 2018
16. Jun 30, 2018
17. Jul 31, 2018
18. Aug 31, 2018
19. Sep 30, 2018
20. Oct 31, 2018
21. Nov 30, 2018
22. Dec 31, 2018
23. Jan 31, 2019
24. Feb 28, 2019
25. Mar 31, 2019
26. Apr 30, 2019
27. May 31, 2019
28. Jun 30, 2019
29. Jul 31, 2019
30. Aug 31, 2019
31. Sep 30, 2019
32. Oct 31, 2019
33. Nov 30, 2019
34. Dec 31, 2019
35. Jan 31, 2020
36. Feb 29, 2020
37. Mar 31, 2020
38. Apr 30, 2020
39. May 31, 2020
40. Jun 30, 2020
41. Jul 31, 2020
42. Aug 31, 2020
43. Sep 30, 2020
44. Oct 31, 2020
45. Nov 30, 2020
46. Dec 31, 2020
47. Jan 31, 2021
48. Feb 28, 2021
49. Mar 31, 2021
50. Apr 30, 2021
51. May 31, 2021
52. Jun 30, 2021
53. Jul 31, 2021
54. Aug 31, 2021
55. Sep 30, 2021
56. Oct 31, 2021
57. Nov 30, 2021
58. Dec 31, 2021
59. Jan 31, 2022
60. Feb 28, 2022
61. Mar 31, 2022
62. Apr 30, 2022
63. May 31, 2022
64. Jun 30, 2022
65. Jul 31, 2022
66. Aug 31, 2022
67. Sep 30, 2022
68. Oct 31, 2022
69. Nov 30, 2022
70. Dec 31, 2022
71. Jan 31, 2023
Total (Σ):

Show all

VarianceDG = Σ(RDG,tRDG)2 ÷ (71 – 1)
= ÷ (71 – 1)
=

VarianceS&P 500 = Σ(RS&P 500,tRS&P 500)2 ÷ (71 – 1)
= ÷ (71 – 1)
=

CovarianceDG, S&P 500 = Σ(RDG,tRDG)×(RS&P 500,tRS&P 500) ÷ (71 – 1)
= ÷ (71 – 1)
=


Systematic Risk (β) Estimation

Microsoft Excel
VarianceDG
VarianceS&P 500
CovarianceDG, S&P 500
Correlation coefficientDG, S&P 5001
βDG2
αDG3

Calculations

1 Correlation coefficientDG, S&P 500
= CovarianceDG, S&P 500 ÷ (Standard deviationDG × Standard deviationS&P 500)
= ÷ ( × )
=

2 βDG
= CovarianceDG, S&P 500 ÷ VarianceS&P 500
= ÷
=

3 αDG
= AverageDG – βDG × AverageS&P 500
= ×
=


Expected Rate of Return

Microsoft Excel
Assumptions
Rate of return on LT Treasury Composite1 RF
Expected rate of return on market portfolio2 E(RM)
Systematic risk (β) of Dollar General Corp. common stock βDG
 
Expected rate of return on Dollar General Corp. common stock3 E(RDG)

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).

2 See details »

3 E(RDG) = RF + βDG [E(RM) – RF]
= + []
=