Return

k

Unadjusted

Adjusted

R₁

R₂

S₁

R₁

R₂

S₁

R₁

2

2.9285***

1.2967

7.9355***

−0.8568

−0.5695

10.9031***

5

3.0588***

1.5093

10.8215***

−2.0801***

−2.4272***

18.9903***

10

2.8923***

1.4217

13.6183***

−1.0147

−1.2416

27.9099***

20

2.2072***

0.9177

17.4548***

−0.0796

−0.5538

39.4995***

40

2.6863***

1.4151

22.3752***

0.6349

−0.0559

54.6185***

r₂

2

1.3624

1.4781

1.1438

1.4346

1.5741**

19.7786***

5

−0.6458

−0.8443

0.2852

−0.6161

−0.8040

35.7133***

10

−0.1693

−0.2891

0.8741

−0.1508

−0.2643

52.3609***

20

0.2315

−0.1834

1.3808

0.2501

−0.1626

75.0433***

40

0.2933

−0.1960

1.7335**

0.3125

−0.1738

106.1170***

r₃

2

−0.8632

−0.5722

−1.5385**

−0.8568

−0.5695

10.9031***

5

−2.0731**

−2.4213***

−1.7464**

−2.0801**

−2.4272***

18.9903***

10

−1.0082

−1.2349

−0.9351

−1.0147

−1.2416

27.9099***

20

−0.0733

−0.5488

−0.0727

−0.0796

−0.5538

39.4995***

40

0.6304

−0.0594

1.4076

0.6349

−0.0559

54.6185***