Port1

Port2

Port3

Port4

Port5

Port6

Port7

Port8

Port9

Port10

High-Low

excess return

−0.0012

0.0002

0.0001

0.0013

0.0007

0.0008

0.0003

0.0007

−0.0006

−0.0022

−0.001

t-stats

−0.5839

0.1143

0.1679

1.8789

1.2733

1.1812

0.3162

0.5502

−0.4756

−1.2704

−0.2926

ff3-alpha

0.0014

0.0019

0.0008

0.0014

0.0007

0.0005

−0.0004

−0.0003

−0.0018

−0.0041

−0.0055

t-stats

0.9712

1.9295

1.0732

2.0346

1.238

0.7178

−0.5349

−0.3066

−1.7963

−2.7925

−2.2012