Table 1 Descriptive summary statistics...

Table 1

Descriptive summary statistics

	Portfolio code	Mean	Std Dev	Kurtosis	Skewness	Min	Max	Count
Active portfolio	P1	0.007	0.035	8.273	−1.050	−0.198	0.135	151
	P2	0.007	0.036	0.652	0.042	−0.105	0.119	151
	P3	0.006	0.027	0.270	0.112	−0.061	0.087	151
	P4	0.005	0.041	8.523	−1.379	−0.245	0.123	151
	P5	0.013	0.043	0.809	0.180	−0.104	0.145	151
	P6	0.000	0.008	−0.587	−0.667	−0.024	0.014	151
	P7	0.007	0.039	6.159	−0.687	−0.205	0.162	151
	P8	0.009	0.035	0.577	−0.381	−0.095	0.088	151
	P9	0.007	0.035	1.027	−0.270	−0.099	0.111	151
	P10	0.007	0.029	1.235	−0.020	−0.092	0.109	151
Passive portfolio	PP1	0.006	0.040	0.244	0.031	−0.110	0.125	151
	PP2	0.005	0.044	3.022	−0.564	−0.204	0.136	151
	PP3	0.011	0.044	0.828	−0.050	−0.140	0.125	151
	PP4	0.008	0.044	0.227	−0.017	−0.116	0.137	151
	PP5	0.006	0.036	0.363	−0.069	−0.103	0.100	151
	PP6	0.006	0.039	0.013	−0.041	−0.106	0.099	151
	PP7	0.001	0.057	0.240	−0.118	−0.170	0.150	151
	PP8	0.006	0.040	1.245	−0.207	−0.143	0.138	151
	PP9	0.003	0.022	8.414	−1.392	−0.123	0.071	151
	PP10	0.006	0.032	0.826	−0.094	−0.090	0.107	151
Market	ALSI	0.0060	0.0387	0.9530	−0.1266	−0.1373	0.1235	151
Market	ALBI	−0.0004	0.0223	4.5082	−0.8940	−0.1127	0.0617	151

	Portfolio code	Mean	Std Dev	Kurtosis	Skewness	Min	Max	Count
Active portfolio	P1	0.007	0.035	8.273	−1.050	−0.198	0.135	151
	P2	0.007	0.036	0.652	0.042	−0.105	0.119	151
	P3	0.006	0.027	0.270	0.112	−0.061	0.087	151
	P4	0.005	0.041	8.523	−1.379	−0.245	0.123	151
	P5	0.013	0.043	0.809	0.180	−0.104	0.145	151
	P6	0.000	0.008	−0.587	−0.667	−0.024	0.014	151
	P7	0.007	0.039	6.159	−0.687	−0.205	0.162	151
	P8	0.009	0.035	0.577	−0.381	−0.095	0.088	151
	P9	0.007	0.035	1.027	−0.270	−0.099	0.111	151
	P10	0.007	0.029	1.235	−0.020	−0.092	0.109	151
Passive portfolio	PP1	0.006	0.040	0.244	0.031	−0.110	0.125	151
	PP2	0.005	0.044	3.022	−0.564	−0.204	0.136	151
	PP3	0.011	0.044	0.828	−0.050	−0.140	0.125	151
	PP4	0.008	0.044	0.227	−0.017	−0.116	0.137	151
	PP5	0.006	0.036	0.363	−0.069	−0.103	0.100	151
	PP6	0.006	0.039	0.013	−0.041	−0.106	0.099	151
	PP7	0.001	0.057	0.240	−0.118	−0.170	0.150	151
	PP8	0.006	0.040	1.245	−0.207	−0.143	0.138	151
	PP9	0.003	0.022	8.414	−1.392	−0.123	0.071	151
	PP10	0.006	0.032	0.826	−0.094	−0.090	0.107	151
Market	ALSI	0.0060	0.0387	0.9530	−0.1266	−0.1373	0.1235	151
Market	ALBI	−0.0004	0.0223	4.5082	−0.8940	−0.1127	0.0617	151

Note(s): The portfolio codes P1–P10 represent active portfolios, and PP1 to PP10 represent passive portfolios. ALSI: stocks index, ALBI: bonds index, a proxy for risk-free rate

Source: Authors' computations

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