Port1

Port2

Port3

Port4

Port5

Port6

Port7

Port8

Port9

Port10

High-Low

excess return

0.0042

0.0024

0.001

0.0009

−0.0011

−0.0005

−0.0009

−0.0001

−0.0012

−0.0048

−0.009

t-stats

1.7074

1.5477

0.8748

1.1836

−1.6048

−0.6312

−0.9617

−0.1044

−0.6625

−1.9253

−1.9111

ff3-alpha

0.0026

0.0014

0

0.0002

−0.0014

−0.0006

−0.0005

0.0005

0.0001

−0.0024

−0.005

t-stats

1.0693

0.948

0.0213

0.243

−2.2114

−0.8637

−0.5524

0.4671

0.0541

−1.0792

−1.1244