model | F-stats | Level of Significance | R2 | Adjusted R2 |
CAPM | 0.529 | 0.472 | 0.0145 | ā0.0129 |
Carhart four-factor | 17.5 | 8.29eā8 | 0.680 | 0.641 |
Fama five-factor | 14.0 | 2.87eā7 | 0.686 | 0.637 |