Port1

Port2

Port3

Port4

Port5

Port6

Port7

Port8

Port9

Port10

High-Low

excess return

−0.0026

−0.0008

0

0.0013

0.0006

−0.0001

0.0016

0.0013

−0.0001

−0.0011

0.0015

t-stats

−1.0977

−0.5278

0.0295

2.112

0.8653

−0.2368

1.6526

1.3598

−0.0968

−0.542

0.3866

ff3-alpha

0.0004

0.0012

0.0011

0.0015

0.0004

−0.0006

0.0006

−0.0001

−0.0013

−0.0031

−0.0035

t-stats

0.2814

1.2246

1.4809

2.1683

0.5973

−0.8847

0.8078

−0.1409

−1.2218

−1.8752

−1.3771