| Variable | Difference of the mean | T value | Difference of median | Z value |
| mv | 0.426 | 13.030*** | 0.271 | 14.907*** |
| cash | 0.023 | 7.752*** | 0.015 | 5.578*** |
| agency | −0.001 | −0.978 | −0.001 | −2.702*** |
| fc(KZ index) | −0.046 | −4.890*** | −1 | −4.883*** |
| fc(WW index) | −0.097 | 11.297*** | 0 | 11.204*** |