Port1

Port2

Port3

Port4

Port5

Port6

Port7

Port8

Port9

Port10

High-Low

excess return

−0.0029

−0.0013

−0.0001

0

0.0006

0.0004

0.0009

0.0012

0.0009

0.0004

0.0032

t-stats

−1.6569

−1.1231

−0.103

0.0086

1.1065

0.7578

1.0056

1.2178

0.7811

0.2265

1.0496

ff3-alpha

0.0001

0.0006

0.0008

0.0004

0.0004

0.0001

0

0.0002

−0.0006

−0.0019

−0.0021

t-stats

0.1089

0.6409

0.8283

0.4757

0.7846

0.2491

−0.0525

0.2787

−0.7419

−1.4162

−0.9232