Port1

Port2

Port3

Port4

Port5

Port6

Port7

Port8

Port9

Port10

High-Low

excess return

−0.0014

−0.0003

0.0004

0.001

0.0001

0.001

0.0011

0.0004

−0.0006

−0.0017

−0.0003

t-stats

−0.7038

−0.2374

0.4865

1.5813

0.0762

1.6887

1.5334

0.4159

−0.4155

−0.8914

−0.0962

ff3-alpha

0.0009

0.0013

0.0011

0.0014

0

0.0006

0.0006

−0.0006

−0.0019

−0.0034

−0.0043

t-stats

0.7247

1.3912

1.4598

2.072

0.0336

1.2011

0.8983

−0.6227

−1.9297

−2.1379

−1.7596