| Probability Level | No. Exceptions/No. Obs. | Test Outcome | ||||
| normal | historical | Fejér-type | normal | historical | Fejér-type | |
|
| DJIA Portfolio | |||||
| 0.005 | 20/252 | 8/252 | 5/252 | Reject | - | - |
| 0.01 | 26/252 | 10/252 | 10/252 | Reject | - | - |
| 0.025 | 40/252 | 30/252 | 29/252 | Reject | - | - |
| 0.05 | 57/252 | 57/252 | 57/252 | - | - | - |
| 0.005 | 14/504 | 3/504 | 3/504 | Reject | - | - |
| 0.01 | 23/504 | 11/504 | 10/504 | Reject | - | - |
| 0.025 | 35/504 | 24/504 | 25/504 | - | - | - |
| 0.05 | 47/504 | 49/504 | 47/504 | - | - | - |
| 0.005 | 3/1000 | 0/1000 | 0/1000 | - | Reject | Reject |
| 0.01 | 4/1000 | 1/1000 | 1/1000 | Reject | Reject | Reject |
| 0.025 | 14/1000 | 6/1000 | 6/1000 | Reject | Reject | Reject |
| 0.05 | 24/1000 | 23/1000 | 23/1000 | Reject | Reject | Reject |
|
| S&P/TSX Composite Index Portfolio | |||||
| 0.005 | 22/252 | 11/252 | 9/252 | Reject | Reject | - |
| 0.01 | 29/252 | 15/252 | 15/252 | Reject | - | - |
| 0.025 | 51/252 | 38/252 | 34/252 | Reject | Reject | - |
| 0.05 | 63/252 | 59/252 | 59/252 | - | - | - |
| 0.005 | 16/504 | 7/504 | 7/504 | Reject | - | - |
| 0.01 | 22/504 | 12/504 | 12/504 | Reject | - | - |
| 0.025 | 40/504 | 30/504 | 28/504 | Reject | - | - |
| 0.05 | 59/504 | 51/504 | 51/504 | - | - | - |
| 0.005 | 5/1000 | 0/1000 | 0/1000 | - | Reject | Reject |
| 0.01 | 6/1000 | 3/1000 | 3/1000 | - | Reject | Reject |
| 0.025 | 12/1000 | 6/1000 | 6/1000 | Reject | Reject | Reject |
| 0.05 | 23/1000 | 21/1000 | 20/1000 | Reject | Reject | Reject |