Arithmetic Mean (%)

Geometric Mean (%)

Median (%)

Standard Deviation (%)

Skewness

Kurtosis

Beta

S&P 500 Index

0.937

0.833

1.237

4.533

-0.435

1.911

1.000

30-Day T-Bill

0.430

0.430

0.423

0.275

0.557

0.524

0.000

Long-Short Equity Hedge Funds

Mean

0.826^***

0.683^***

0.856^***

4.684

−0.024^***

3.492^***

0.483^***

Median

0.783

0.649

0.790

4.184

−0.123

2.082

0.428

Standard Deviation

0.657

0.613

0.685

2.631

1.070

5.737

0.425

Maximum

4.518

3.589

4.960

16.379

6.801

70.954

2.467

Minimum

−1.086

−2.104

−1.260

0.021

−3.496

−0.819

−1.150

Number (%) above the Market

149 (37.3)

139 (34.8)

89 (22.3)

176 (44.0)

268 (67.0)

213 (53.3)

43 (10.8)

Number (%) below the Market

251 (62.8)

261 (65.3)

311 (77.8)

224 (56.0)

132 (33.0)

187 (46.8)

357 (89.3)

Number (%) Positively Skewed

173 (43.3)

Number (%) Negatively Skewed

227 (56.8)

Number (%) Leptokurtic

373 (93.3)

Number (%) Platokurtic

27 (6.8)