RM y RF
RM y RF
RM y RF
Annual Returns on Investments in
Page 1
Returns by year
Page 2
Returns by year
Geometric Average
19282016 9.52% 3.42% 4.91%
19672016 10.09% 4.83% 6.66%
20072016 6.88% 0.73% 4.58%
Page 3
Returns by year
US companies
data.html
me.xls
datafile/variable.htm
Compounded Value of $ 100
Stocks T.Bills T.Bonds Stocks - Bills Stocks - Bonds Historical risk premium
$ 143.81 $ 103.08 $ 100.84 40.73% 42.98%
$ 131.88 $ 106.34 $ 105.07 -11.46% -12.50%
$ 98.75 $ 111.18 $ 109.85 -29.67% -29.66%
$ 55.46 $ 113.74 $ 107.03 -46.15% -41.28%
$ 50.66 $ 114.96 $ 116.44 -9.71% -17.43%
$ 75.99 $ 116.06 $ 118.60 49.02% 48.13%
$ 75.09 $ 116.44 $ 128.05 -1.51% -9.15%
$ 110.18 $ 116.64 $ 133.78 46.57% 42.27%
$ 145.38 $ 116.84 $ 140.49 31.77% 26.93%
$ 94.00 $ 117.19 $ 142.43 -35.64% -36.72%
$ 121.53 $ 117.29 $ 148.43 29.21% 25.07%
$ 120.20 $ 117.33 $ 154.98 -1.14% -5.51%
$ 107.37 $ 117.36 $ 163.35 -10.70% -16.08%
$ 93.66 $ 117.46 $ 160.04 -12.85% -10.75%
$ 111.61 $ 117.85 $ 163.72 18.84% 16.88%
$ 139.59 $ 118.30 $ 167.79 24.68% 22.57%
$ 166.15 $ 118.75 $ 172.12 18.65% 16.45%
$ 225.67 $ 119.20 $ 178.67 35.44% 32.02%
$ 206.65 $ 119.65 $ 184.26 -8.81% -11.56%
$ 217.39 $ 120.33 $ 185.95 4.63% 4.28%
$ 229.79 $ 121.56 $ 189.58 4.68% 3.75%
$ 271.85 $ 122.90 $ 198.42 17.20% 13.64%
$ 355.60 $ 124.34 $ 199.27 29.63% 30.38%
$ 439.80 $ 126.18 $ 198.68 22.20% 23.97%
$ 519.62 $ 128.29 $ 203.19 16.48% 15.88%
$ 513.35 $ 130.72 $ 211.61 -3.10% -5.35%
$ 783.18 $ 131.98 $ 218.57 51.60% 49.27%
$ 1,038.47 $ 134.17 $ 215.65 30.94% 33.93%
$ 1,115.73 $ 137.60 $ 210.79 4.88% 9.70%
$ 999.05 $ 142.04 $ 225.11 -13.69% -17.25%
$ 1,435.84 $ 144.57 $ 220.39 41.94% 45.82%
Page 4
Returns by year
Page 5
Returns by year
Page 6
Returns by year
Page 7
S&P 500 & Raw Data =rm
Page 8
S&P 500 & Raw Data =rm
Page 9
S&P 500 & Raw Data =rm
Page 10
S&P 500 & Raw Data =rm
Jan 1 notes
Page 11
S&P 500 & Raw Data =rm
Page 12
T. Bill rates =rf
Page 13
T. Bill rates =rf
Page 14
T. Bill rates =rf
july 0.12
Aug 0.13
Sept 0.10
Oct 0.09
Nov 0.28
Dec 0.33
Jan-42 0.27
Feb 0.25
Mar 0.25
Apr 0.32
May 0.37
June 0.37
july 0.38
Aug 0.38
Sept 0.38
Oct 0.38
Nov 0.38
Dec 0.38
Jan-43 0.38
Feb 0.38
Mar 0.38
Apr 0.38
May 0.38
June 0.38
july 0.38
Aug 0.38
Sept 0.38
Oct 0.38
Nov 0.38
Dec 0.38
Jan-44 0.38
Feb 0.38
Mar 0.38
Apr 0.38
May 0.38
June 0.38
july 0.38
Aug 0.38
Sept 0.38
Oct 0.38
Nov 0.38
Dec 0.38
Jan-45 0.38
Feb 0.38
Mar 0.38
Apr 0.38
May 0.38
June 0.38
july 0.38
Aug 0.38
Sept 0.38
Page 15
T. Bill rates =rf
Oct 0.38
Nov 0.38
Dec 0.38
Jan-46 0.38
Feb 0.38
Mar 0.38
Apr 0.38
May 0.38
June 0.38
july 0.38
Aug 0.38
Sept 0.38
Oct 0.38
Nov 0.38
Dec 0.38
Jan-47 0.38
Feb 0.38
Mar 0.38
Apr 0.38
May 0.38
June 0.38
july 0.66
Aug 0.75
Sept 0.80
Oct 0.85
Nov 0.92
Dec 0.95
Jan-48 0.97
Feb 1.00
Mar 1.00
Apr 1.00
May 1.00
June 1.00
july 1.00
Aug 1.06
Sept 1.09
Oct 1.12
Nov 1.14
Dec 1.16
Jan-49 1.17
Feb 1.17
Mar 1.17
Apr 1.17
May 1.17
June 1.17
july 1.02
Aug 1.04
Sept 1.07
Oct 1.05
Nov 1.08
Dec 1.10
Page 16
T. Bill rates =rf
Jan-50 1.07
Feb 1.12
Mar 1.12
Apr 1.15
May 1.16
June 1.15
july 1.16
Aug 1.20
Sept 1.30
Oct 1.31
Nov 1.36
Dec 1.34
Jan-51 1.34
Feb 1.36
Mar 1.40
Apr 1.47
May 1.55
June 1.45
july 1.56
Aug 1.62
Sept 1.63
Oct 1.54
Nov 1.56
Dec 1.73
Jan-52 1.57
Feb 1.54
Mar 1.59
Apr 1.57
May 1.67
June 1.70
july 1.81
Aug 1.83
Sept 1.71
Oct 1.74
Nov 1.85
Dec 2.09
Jan-53 1.96
Feb 1.97
Mar 2.01
Apr 2.19
May 2.16
June 2.11
july 2.04
Aug 2.04
Sept 1.79
Oct 1.38
Nov 1.44
Dec 1.60
Jan-54 1.18
Feb 0.97
Mar 1.03
Page 17
T. Bill rates =rf
Apr 0.97
May 0.76
June 0.64
july 0.72
Aug 0.92
Sept 1.01
Oct 0.98
Nov 0.93
Dec 1.15
Jan-55 1.22
Feb 1.17
Mar 1.28
Apr 1.59
May 1.45
June 1.41
july 1.60
Aug 1.90
Sept 2.07
Oct 2.23
Nov 2.24
Dec 2.54
Jan-56 2.41
Feb 2.32
Mar 2.25
Apr 2.60
May 2.61
June 2.49
july 2.31
Aug 2.60
Sept 2.84
Oct 2.90
Nov 2.99
Dec 3.21
Jan-57 3.11
Feb 3.10
Mar 3.08
Apr 3.07
May 3.06
June 3.29
july 3.16
Aug 3.37
Sept 3.53
Oct 3.58
Nov 3.31
Dec 3.04
Jan-58 2.44
Feb 1.53
Mar 1.30
Apr 1.13
May 0.91
June 0.83
Page 18
T. Bill rates =rf
july 0.91
Aug 1.69
Sept 2.44
Oct 2.63
Nov 2.67
Dec 2.77
Jan-59 2.82
Feb 2.70
Mar 2.80
Apr 2.95
May 2.84
June 3.21
july 3.20
Aug 3.38
Sept 4.04
Oct 4.05
Nov 4.15
Dec 4.49
Jan-60 4.35
Feb 3.96
Mar 3.31
Apr 3.23
May 3.29
June 2.46
july 2.30
Aug 2.30
Sept 2.48
Oct 2.30
Nov 2.37
Dec 2.25
Jan-61 2.24
Feb 2.42
Mar 2.39
Apr 2.29
May 2.29
June 2.33
july 2.24
Aug 2.39
Sept 2.28
Oct 2.30
Nov 2.48
Dec 2.60
Jan-62 2.72
Feb 2.73
Mar 2.72
Apr 2.73
May 2.69
June 2.73
july 2.92
Aug 2.82
Sept 2.78
Page 19
T. Bill rates =rf
Oct 2.74
Nov 2.83
Dec 2.87
Jan-63 2.91
Feb 2.92
Mar 2.89
Apr 2.90
May 2.93
June 2.99
july 3.18
Aug 3.32
Sept 3.38
Oct 3.45
Nov 3.52
Dec 3.52
Jan-64 3.52
Feb 3.53
Mar 3.54
Apr 3.47
May 3.48
June 3.48
july 3.46
Aug 3.50
Sept 3.53
Oct 3.57
Nov 3.64
Dec 3.84
Jan-65 3.81
Feb 3.93
Mar 3.93
Apr 3.93
May 3.89
June 3.80
july 3.84
Aug 3.84
Sept 3.92
Oct 4.03
Nov 4.09
Dec 4.38
Jan-66 4.59
Feb 4.65
Mar 4.59
Apr 4.62
May 4.64
June 4.50
july 4.80
Aug 4.96
Sept 5.37
Oct 5.35
Nov 5.32
Dec 4.96
Page 20
T. Bill rates =rf
Jan-67 4.72
Feb 4.56
Mar 4.26
Apr 3.84
May 3.60
June 3.54
july 4.21
Aug 4.27
Sept 4.42
Oct 4.56
Nov 4.73
Dec 4.97
Jan-68 5.00
Feb 4.98
Mar 5.17
Apr 5.38
May 5.66
June 5.52
july 5.31
Aug 5.09
Sept 5.19
Oct 5.35
Nov 5.45
Dec 5.96
Jan-69 6.14
Feb 6.12
Mar 6.02
Apr 6.11
May 6.04
June 6.44
july 7.00
Aug 6.98
Sept 7.09
Oct 7.00
Nov 7.24
Dec 7.82
Jan-70 7.87
Feb 7.13
Mar 6.63
Apr 6.51
May 6.84
June 6.68
july 6.45
Aug 6.41
Sept 6.12
Oct 5.91
Nov 5.28
Dec 4.87
Jan-71 4.44
Feb 3.70
Mar 3.38
Page 21
T. Bill rates =rf
Apr 3.86
May 4.14
June 4.75
july 5.40
Aug 4.94
Sept 4.69
Oct 4.46
Nov 4.22
Dec 4.01
Jan-72 3.38
Feb 3.20
Mar 3.73
Apr 3.71
May 3.69
June 3.91
july 3.98
Aug 4.02
Sept 4.66
Oct 4.74
Nov 4.78
Dec 5.07
Jan-73 5.41
Feb 5.60
Mar 6.09
Apr 6.26
May 6.36
June 7.19
july 8.01
Aug 8.67
Sept 8.29
Oct 7.22
Nov 7.83
Dec 7.45
Jan-74 7.77
Feb 7.12
Mar 7.96
Apr 8.33
May 8.23
June 7.90
july 7.55
Aug 8.96
Sept 8.06
Oct 7.46
Nov 7.47
Dec 7.15
Jan-75 6.26
Feb 5.50
Mar 5.49
Apr 5.61
May 5.23
June 5.34
Page 22
T. Bill rates =rf
july 6.13
Aug 6.44
Sept 6.42
Oct 5.96
Nov 5.48
Dec 5.44
Jan-76 4.87
Feb 4.88
Mar 5.00
Apr 4.86
May 5.20
June 5.41
july 5.23
Aug 5.14
Sept 5.08
Oct 4.92
Nov 4.75
Dec 4.35
Jan-77 4.62
Feb 4.67
Mar 4.60
Apr 4.54
May 4.96
June 5.02
july 5.19
Aug 5.49
Sept 5.81
Oct 6.16
Nov 6.10
Dec 6.07
Jan-78 6.44
Feb 6.45
Mar 6.29
Apr 6.29
May 6.41
June 6.73
july 7.01
Aug 7.08
Sept 7.85
Oct 7.99
Nov 8.64
Dec 9.08
Jan-79 9.35
Feb 9.32
Mar 9.48
Apr 9.46
May 9.61
June 9.06
july 9.24
Aug 9.52
Sept 10.26
Page 23
T. Bill rates =rf
Oct 11.70
Nov 11.79
Dec 12.04
Jan-80 12.00
Feb 12.86
Mar 15.20
Apr 13.20
May 8.58
June 7.07
july 8.06
Aug 9.13
Sept 10.27
Oct 11.62
Nov 13.73
Dec 15.49
Jan-81 15.02
Feb 14.79
Mar 13.36
Apr 13.69
May 16.30
June 14.73
july 14.95
Aug 15.51
Sept 14.70
Oct 13.54
Nov 10.86
Dec 10.85
Jan-82 12.28
Feb 13.48
Mar 12.68
Apr 12.70
May 12.09
June 12.47
july 11.35
Aug 8.68
Sept 7.92
Oct 7.71
Nov 8.07
Dec 7.94
Jan-83 7.86
Feb 8.11
Mar 8.35
Apr 8.21
May 8.19
June 8.79
july 9.08
Aug 9.34
Sept 9.00
Oct 8.64
Nov 8.76
Dec 9.00
Page 24
T. Bill rates =rf
Jan-84 8.90
Feb 9.09
Mar 9.52
Apr 9.69
May 9.83
June 9.87
july 10.12
Aug 10.47
Sept 10.37
Oct 9.74
Nov 8.61
Dec 8.06
Jan-85 7.76
Feb 8.27
Mar 8.52
Apr 7.95
May 7.48
June 6.95
july 7.08
Aug 7.14
Sept 7.10
Oct 7.16
Nov 7.24
Dec 7.10
Jan-86 7.07
Feb 7.06
Mar 6.56
Apr 6.06
May 6.15
June 6.21
july 5.83
Aug 5.53
Sept 5.21
Oct 5.18
Nov 5.35
Dec 5.53
Jan-87 5.43
Feb 5.59
Mar 5.59
Apr 5.64
May 5.66
June 5.67
july 5.69
Aug 6.04
Sept 6.40
Oct 6.13
Nov 5.69
Dec 5.77
Jan-88 5.81
Feb 5.66
Mar 5.70
Page 25
T. Bill rates =rf
Apr 5.91
May 6.26
June 6.46
july 6.73
Aug 7.06
Sept 7.24
Oct 7.35
Nov 7.76
Dec 8.07
Jan-89 8.27
Feb 8.53
Mar 8.82
Apr 8.65
May 8.43
June 8.15
july 7.88
Aug 7.90
Sept 7.75
Oct 7.64
Nov 7.69
Dec 7.63
Jan-90 7.64
Feb 7.74
Mar 7.90
Apr 7.77
May 7.74
June 7.73
july 7.62
Aug 7.45
Sept 7.36
Oct 7.17
Nov 7.06
Dec 6.74
Jan-91 6.22
Feb 5.94
Mar 5.91
Apr 5.65
May 5.46
June 5.57
july 5.58
Aug 5.33
Sept 5.22
Oct 4.99
Nov 4.56
Dec 4.07
Jan-92 3.80
Feb 3.84
Mar 4.04
Apr 3.75
May 3.63
June 3.66
Page 26
T. Bill rates =rf
july 3.21
Aug 3.13
Sept 2.91
Oct 2.86
Nov 3.13
Dec 3.22
Jan-93 3.00
Feb 2.93
Mar 2.95
Apr 2.87
May 2.96
June 3.07
july 3.04
Aug 3.02
Sept 2.95
Oct 3.02
Nov 3.10
Dec 3.06
Jan-94 2.98
Feb 3.25
Mar 3.50
Apr 3.68
May 4.14
June 4.14
july 4.33
Aug 4.48
Sept 4.62
Oct 4.95
Nov 5.29
Dec 5.60
Jan-95 5.71
Feb 5.77
Mar 5.73
Apr 5.65
May 5.67
June 5.47
july 5.42
Aug 5.40
Sept 5.28
Oct 5.28
Nov 5.36
Dec 5.14 5.49
Jan-96 5.00
Feb 4.83
Mar 4.96
Apr 4.95
May 5.02
June 5.09
july 5.15
Aug 5.05
Sept 5.09
Page 27
T. Bill rates =rf
Oct 4.99
Nov 5.03
Dec 4.91 5.01
Jan-97 5.03
Feb 5.01
Mar 5.14
Apr 5.16
May 5.05
June 4.93
july 5.05
Aug 5.14
Sept 4.95
Oct 4.97
Nov 5.14
Dec 5.16 5.06
Jan-98 5.04
Feb 5.09
Mar 5.03
Apr 4.95
May 5.00
June 4.98
july 4.96
Aug 4.90
Sept 4.61
Oct 3.96
Nov 4.41
Dec 4.39 4.78
Jan-99 4.34
Feb 4.44
Mar 4.44
Apr 4.29
May 4.50
June 4.57
july 4.55
Aug 4.72
Sept 4.68
Oct 4.86
Nov 5.07
Dec 5.20 4.64
Jan-00 5.32
Feb 5.55
Mar 5.69
Apr 5.66
May 5.79
June 5.69
july 5.96
Aug 6.09
Sept 6.00
Oct 6.11
Nov 6.17
Dec 5.77 5.82
Page 28
T. Bill rates =rf
Jan-01 5.15
Feb 4.88
Mar 4.42
Apr 3.87
May 3.62
June 3.49
july 3.51
Aug 3.36
Sept 2.64
Oct 2.16
Nov 1.87
Dec 1.69 3.39
Jan-02 1.65
Feb 1.73
Mar 1.79
Apr 1.72
May 1.73
June 1.70
july 1.68
Aug 1.62
Sept 1.63
Oct 1.58
Nov 1.23
Dec 1.19 1.60
Jan-03 1.17
Feb 1.17
Mar 1.13
Apr 1.13
May 1.07
June 0.92
july 0.90
Aug 0.95
Sept 0.94
Oct 0.92
Nov 0.93
Dec 0.90 1.01
Jan-04 0.88
Feb 0.93
Mar 0.94
Apr 0.94
May 1.02
June 1.27
july 1.33
Aug 1.48
Sept 1.65
Oct 1.76
Nov 2.07
Dec 2.19 1.37
Jan-05 2.33
Feb 2.54
Mar 2.74
Page 29
T. Bill rates =rf
Apr 2.78
May 2.84
June 2.97
july 3.22
Aug 3.44
Sept 3.42
Oct 3.71
Nov 3.88
Dec 3.89 3.15
Jan-06 4.24
Feb 4.43
Mar 4.51
Apr 4.60
May 4.72
June 4.79
july 4.95
Aug 4.96
Sept 4.81
Oct 4.92
Nov 4.94
Dec 4.85 4.73
Jan-07 4.98
Feb 5.03
Mar 4.94
Apr 4.87
May 4.73
June 4.61
july 4.82
Aug 4.20
Sept 3.89
Oct 3.90
Nov 3.27
Dec 3.00 4.35
Jan-08 2.75
Feb 2.12
Mar 1.26
Apr 1.29
May 1.73
June 1.86
july 1.63
Aug 1.72
Sept 1.13
Oct 0.67
Nov 0.19
Dec 0.03 1.37
January 09 0.13
Feb 0.30
Mar 0.21
Apr 0.16
May 0.18
June 0.18
Page 30
T. Bill rates =rf
July 0.18
Aug 0.17
Sept 0.12
Oct 0.07
Nov 0.05
Dec 0.14 0.16
Page 31
T. Bond return
Page 32
T. Bond return
Page 33
T. Bond return
Page 34
T. Bond return
the promised coupon at the start of the year and the price change due to interest rate changes.
the end of 1927) Price change on a bond with a coupon rate of 3.17%, when the interest rate goes to 3.45%.
Page 35
Summary for ppt
Page 36
Summary for ppt
- T. Bonds
Page 37