Description Follow the instruction to write 5pages report plus an Excel spreadsheetPlease read every instruction very carefullyThis assignment requires plenty of finance related knowledgesThis assignment has two parts which are written report and Excel spreadsheet. Please make sure you can handle them before you place your bidsAll the work must be originalTurnitin report is required 2 attachmentsSlide 1 of 2attachment_1attachment_1attachment_2attachment_2.slider-slide > img { width: 100%; display: block; } .slider-slide > img:focus { margin: auto; } Unformatted Attachment Preview Finance Discipline Group UTS Business School FINANCIAL METRICS FOR DECISION MAKING – SPRING 2020 ASSIGNMENT General Instructions and Information § § § § § § § § This assignment accounts for 40% of students’ final grade for 25624 Financial Metrics for Decision Making. The assignment is to be undertaken individually. The assignment is due on Friday the 16th of October 2020 (Week 10) by 5pm. The assignment must be submitted via UTSOnline. You’ll need to provide a written report and an Excel spreadsheet: • The written report must be self-contained and formatted as a PDF file. • Excel files will also be examined and will constitute 20% of the value of the assignment. The Excel file should include all calculations. The scope of this assignment is limited to [5] pages not including appendices and cover sheet. Use standard fonts (think Calibri, Times New Roman, Arial) and standard font sizes. There is no specific word count. You are encouraged to use figures and tables when reporting your results. The file names, for both the report and the Excel spreadsheet, will take the form: “Name – Student number”. For example, if your name is Jane Doe and your student number is 12345, then your file name will be “Jane Doe – 12345”. Please don’t write the words “name”, “student number” or anything else in the file name. All assignment-related questions should be posted to the Discussion Board on UTSOnline. Marking § § § This assessment will be graded on the quality of both, the written report and the quantitative analysis in Excel. Marks will be awarded 70% for content and analysis, and 30% for effectiveness of communication and presentation. Late submissions will be allocated a mark of zero with no exceptions unless via special consideration filing. Files In the Assignment folder on UTSOnline, you’ll find the following files: § Cover Sheet: is the cover sheet you’ll need to fill in, sign, and submit along with your written report. § Data: this Excel spreadsheet contains the following worksheets: • • • • • Cover: you’ll need provide your student details and the ‘Symbol’ for each randomly selected stock (see Part 1) here. S&P500 List: contains the ‘Symbol’ and the ‘Name’ of US stocks included in the S&P500 index. Returns: contains daily returns for the sample of US stocks in S&P500 List for the period 3 Mar 2020 – 28 Aug 2020. In addition, this file also contains historical data for the S&P500 index (the market portfolio) and US Treasury Bond Yields (the risk-free rate). US Covid Cases: contains data on new Covid-19 cases in the US, and their average 7-day moving average percentage change, for the period 3 Mar 2020 – 28 Aug 2020 Part 1 to Part 5: use these worksheets as templates for the calculations you’ll have to perform, and submit, as part of this assignment. Instructions Part 1 – Optimisation (20 marks) § Randomly select 10 stocks out of the sample of US stocks in S&P500 List. Ensure you identify how you randomly selected the stocks. • Note: include the ‘Symbol’ for each of the selected stocks in the Cover worksheet. § For the sample selected, form an equally-weighted portfolio (Portfolio A) and estimate daily returns for the period 3 Mar 2020 – 28 Aug 2020 § For the sample selected, use the Excel add-in Solver to form a portfolio (Portfolio B) which maximises the Sharpe Ratio for the period 3 Mar 2020 – 28 Aug 2020, under the constraint that the total portfolio weight is one. Report the portfolio weights and comment on the feasibility of investing according to the weights obtained. Part 2 – Descriptive Analysis (20 marks) § Report daily and annualised descriptive statistics which summarise the historical return distribution for both, Portfolio A and Portfolio B, as well as any metrics you consider useful to depict the historical performance of both portfolios. Comment on your findings. Hints: – You can report both, the pre and post-covid performance of the portfolios and comment on the impact the pandemic has had on your selected stocks and/or the industries they are in. – The use of figures and charts as a visual summary of the data is highly encouraged. Part 3 – Hypothesis Testing (20 marks) § Plot histograms to contrast the return distribution of: 1) Portfolio A vs S&P500, and 2) Portfolio B vs S&P500. Comment on your findings. § At 5% significance level, is the mean daily return of any of these two portfolios higher than the mean return of the S&P 500 index? Comment on your findings. Hints: – Start by properly establishing both the Null and Alternative hypotheses. – Report the type of test you would use to answer this question. – Present and interpret your results in terms of p-values. Part 4 – Simple Linear Regression (20 marks) § Estimate historical excess returns for both, Portfolio A and Portfolio B, as well as the S&P500 index. § Create scatterplots to depict the historical returns of: 1) Portfolio A vs S&P500, and 2) Portfolio B vs S&P500. Comment on the relationships observed. § Using the S&P500 index as the market portfolio, what is the market beta of both, Portfolio A and Portfolio B. Which portfolio is more exposed to Systematic Risk? § Based on these betas, what would be the expected change in the average excess return of both, Portfolio A and Portfolio B, to a 1% increase in the average excess return of the market portfolio? Part 5 – Multivariate Linear Regression (20 marks) § Estimate two separate regressions, one for Portfolio A and one for Portfolio B, in which your dependent variable is the daily excess returns for each portfolio, and your independent variable is the daily 7-day moving average percentage change in new Covid-19 cases in the US. § Interpret your findings establishing: a) whether for each Portfolio the regressor is statistically significant at a 5% significance level; and b) the effect a 1% change in the regressor has in the average excess returns of each portfolio. • Do you think there is an underlying economic relationship between the daily percentage change in new Covid-19 cases and the returns of Portfolio A and Portfolio B? If so, what can explain that relationship? Hints: – Discuss the impact the pandemic has had on your selected stocks and/or the industries they are in. § Re-estimate the two regressions above, and this time include the following independent variables (regressors): 1. The excess returns for the S&P500 index, and 2. The daily 7-day moving average percentage change in new Covid-19 cases § After including this additional regressor, what can you say about the relationship between the daily percentage change in new Covid-19 cases and the returns of Portfolio A and Portfolio B? Student ID Name Surname Stock 1 – Stock 2 – Stock 3 – Stock 4 – Stock 5 – Financial Metrics for Decision Making Spring 2020 Assignment Stock 6 – Stock 7 – Stock 8 – Stock 9 – Stock 10 – n 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 Symbol MMM ABT ABBV ABMD ACN ATVI ADBE AMD AAP AES AFL A APD AKAM ALK ALB ARE ALXN ALGN ALLE LNT ALL GOOGL GOOG MO AMZN AMCR AEE AAL AEP AXP AIG AMT AWK AMP ABC AME AMGN APH ADI ANSS ANTM AON AOS APA AIV AAPL AMAT APTV ADM Name 3M Company Abbott Laboratories AbbVie Inc. ABIOMED Inc Accenture plc Activision Blizzard Adobe Inc. Advanced Micro Devices Inc Advance Auto Parts AES Corp AFLAC Inc Agilent Technologies Inc Air Products & Chemicals Inc Akamai Technologies Inc Alaska Air Group Inc Albemarle Corp Alexandria Real Estate Equities Alexion Pharmaceuticals Align Technology Allegion Alliant Energy Corp Allstate Corp Alphabet Inc.(Class A) Alphabet Inc.(Class C) Altria Group Inc Amazon.com Inc. Amcor plc Ameren Corp American Airlines Group American Electric Power American Express Co American International Group American Tower Corp. American Water Works Company Inc Ameriprise Financial AmerisourceBergen Corp AMETEK Inc. Amgen Inc. Amphenol Corp Analog Devices, Inc. ANSYS Anthem Aon plc A.O. Smith Corp Apache Corporation Apartment Investment & Management Apple Inc. Applied Materials Inc. Aptiv PLC Archer-Daniels-Midland Co GICS Sector Industrials Health Care Health Care Health Care Communication Services Information Technology Information Technology Consumer Discretionary Utilities Financials Health Care Materials Information Technology Industrials Materials Real Estate Health Care Health Care Industrials Utilities Financials Communication Services Communication Services Consumer Staples Consumer Discretionary Materials Utilities Industrials Utilities Financials Financials Real Estate Utilities Financials Health Care Industrials Health Care Information Technology Information Technology Information Technology Health Care Financials Industrials Energy Real Estate Information Technology Information Technology Consumer Discretionary Consumer Staples 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 ANET AJG AIZ T ATO ADSK ADP AZO AVB AVY BKR BLL BAC BK BAX BDX BRK-B BBY BIO BIIB BLK BA BKNG BWA BXP BSX BMY AVGO BR BF-B CHRW COG CDNS CPB COF CAH KMX CCL CAT CBOE CBRE CDW CE CNC CNP CTL CERN CF SCHW CHTR CVX Arista Networks Arthur J. Gallagher & Co. Assurant AT&T Inc. Atmos Energy Autodesk Inc. Automatic Data Processing AutoZone Inc AvalonBay Communities Avery Dennison Corp Baker Hughes Co Ball Corp Bank of America Corp The Bank of New York Mellon Baxter International Inc. Becton Dickinson Berkshire Hathaway Best Buy Co. Inc. Bio-Rad Laboratories Biogen Inc. BlackRock Boeing Company Booking Holdings Inc BorgWarner Boston Properties Boston Scientific Bristol-Myers Squibb Broadcom Inc. Broadridge Financial Solutions Brown-Forman Corp. C. H. Robinson Worldwide Cabot Oil & Gas Cadence Design Systems Campbell Soup Capital One Financial Cardinal Health Inc. Carmax Inc Carnival Corp. Caterpillar Inc. Cboe Global Markets CBRE Group CDW Celanese Centene Corporation CenterPoint Energy CenturyLink Inc Cerner CF Industries Holdings Inc Charles Schwab Corporation Charter Communications Chevron Corp. Information Technology Financials Financials Communication Services Utilities Information Technology Information Technology Consumer Discretionary Real Estate Materials Energy Materials Financials Financials Health Care Health Care Financials Consumer Discretionary Health Care Health Care Financials Industrials Consumer Discretionary Consumer Discretionary Real Estate Health Care Health Care Information Technology Information Technology Consumer Staples Industrials Energy Information Technology Consumer Staples Financials Health Care Consumer Discretionary Consumer Discretionary Industrials Financials Real Estate Information Technology Materials Health Care Utilities Communication Services Health Care Materials Financials Communication Services Energy 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 CMG CB CHD CI CINF CTAS CSCO C CFG CTXS CLX CME CMS KO CTSH CL CMCSA CMA CAG CXO COP ED STZ COO CPRT GLW CTVA COST COTY CCI CSX CMI CVS DHI DHR DRI DVA DE DAL XRAY DVN DXCM FANG DLR DFS DISCA DISCK DISH DG DLTR D Chipotle Mexican Grill Chubb Limited Church & Dwight CIGNA Corp. Cincinnati Financial Cintas Corporation Cisco Systems Citigroup Inc. Citizens Financial Group Citrix Systems The Clorox Company CME Group Inc. CMS Energy Coca-Cola Company Cognizant Technology Solutions Colgate-Palmolive Comcast Corp. Comerica Inc. Conagra Brands Concho Resources ConocoPhillips Consolidated Edison Constellation Brands The Cooper Companies Copart Inc Corning Inc. Corteva Costco Wholesale Corp. Coty, Inc Crown Castle International Corp. CSX Corp. Cummins Inc. CVS Health D. R. Horton Danaher Corp. Darden Restaurants DaVita Inc. Deere & Co. Delta Air Lines Inc. Dentsply Sirona Devon Energy DexCom Diamondback Energy Digital Realty Trust Inc Discover Financial Services Discovery, Inc.(Class A) Discovery, Inc.(Class C) Dish Network Dollar General Dollar Tree Dominion Energy Consumer Discretionary Financials Consumer Staples Health Care Financials Industrials Information Technology Financials Financials Information Technology Consumer Staples Financials Utilities Consumer Staples Information Technology Consumer Staples Communication Services Financials Consumer Staples Energy Energy Utilities Consumer Staples Health Care Industrials Information Technology Materials Consumer Staples Consumer Staples Real Estate Industrials Industrials Health Care Consumer Discretionary Health Care Consumer Discretionary Health Care Industrials Industrials Health Care Energy Health Care Energy Real Estate Financials Communication Services Communication Services Communication Services Consumer Discretionary Consumer Discretionary Utilities 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 DPZ DOV DOW DTE DUK DRE DD DXC ETFC EMN ETN EBAY ECL EIX EW EA EMR ETR EOG EFX EQIX EQR ESS EL EVRG ES RE EXC EXPE EXPD EXR XOM FFIV FB FAST FRT FDX FIS FITB FE FRC FISV FLT FLIR FLS FMC F FTNT FTV FBHS FOXA Domino’s Pizza Dover Corporation Dow Inc. DTE Energy Co. Duke Energy Duke Realty Corp DuPont de Nemours Inc DXC Technology E*Trade Eastman Chemical Eaton Corporation eBay Inc. Ecolab Inc. Edison Int’l Edwards Lifesciences Electronic Arts Emerson Electric Company Entergy Corp. EOG Resources Equifax Inc. Equinix Equity Residential Essex Property Trust, Inc. Estée Lauder Companies Evergy Eversource Energy Everest Re Group Ltd. Exelon Corp. Expedia Group Expeditors Extra Space Storage Exxon Mobil Corp. F5 Networks Facebook, Inc. Fastenal Co Federal Realty Investment Trust FedEx Corporation Fidelity National Information Services Fifth Third Bancorp FirstEnergy Corp First Republic Bank Fiserv Inc FleetCor Technologies Inc FLIR Systems Flowserve Corporation FMC Corporation Ford Motor Company Fortinet Fortive Corp Fortune Brands Home & Security Fox Corporation(Class A) Consumer Discretionary Industrials Materials Utilities Utilities Real Estate Materials Information Technology Financials Materials Industrials Consumer Discretionary Materials Utilities Health Care Communication Services Industrials Utilities Energy Industrials Real Estate Real Estate Real Estate Consumer Staples Utilities Utilities Financials Utilities Consumer Discretionary Industrials Real Estate Energy Information Technology Communication Services Industrials Real Estate Industrials Information Technology Financials Utilities Financials Information Technology Information Technology Information Technology Industrials Materials Consumer Discretionary Information Technology Industrials Industrials Communication Services 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 FOX BEN FCX GPS GRMN IT GD GE GIS GM GPC GILD GL GPN GS GWW HRB HAL HBI HIG HAS HCA PEAK HSIC HSY HES HPE HLT HFC HOLX HD HON HRL HST HWM HPQ HUM HBAN HII IEX IDXX INFO ITW ILMN INCY IR INTC ICE IBM IP IPG Fox Corporation(Class B) Franklin Resources Freeport-McMoRan Inc. Gap Inc. Garmin Ltd. Gartner Inc General Dynamics General Electric General Mills General Motors Genuine Parts Gilead Sciences Globe Life Inc. Global Payments Inc. Goldman Sachs Group Grainger (W.W.) Inc. H&R Block Halliburton Co. Hanesbrands Inc Hartford Financial Svc.Gp. Hasbro Inc. HCA Healthcare Healthpeak Properties Henry Schein The Hershey Company Hess Corporation Hewlett Packard Enterprise Hilton Worldwide Holdings Inc HollyFrontier Corp Hologic Home Depot Honeywell Int’l Inc. Hormel Foods Corp. Host Hotels & Resorts Howmet Aerospace HP Inc. Humana Inc. Huntington Bancshares Huntington Ingalls Industries IDEX Corporation IDEXX Laboratories IHS Markit Ltd. Illinois Tool Works Illumina Inc Incyte Ingersoll Rand Intel Corp. Intercontinental Exchange International Business Machines International Paper Interpublic Group Communication Services Financials Materials Consumer Discretionary Consumer Discretionary Information Technology Industrials Industrials Consumer Staples Consumer Discretionary Consumer Discretionary Health Care Financials Information Technology Financials Industrials Consumer Discretionary Energy Consumer Discretionary Financials Consumer Discretionary Health Care Real Estate Health Care Consumer Staples Energy Information Technology Consumer Discretionary Energy Health Care Consumer Discretionary Industrials Consumer Staples Real Estate Industrials Information Technology Health Care Financials Industrials Industrials Health Care Industrials Industrials Health Care Health Care Industrials Information Technology Financials Information Technology Materials Communication Services 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 IFF INTU ISRG IVZ IPGP IQV IRM JKHY J JBHT SJM JNJ JCI JPM JNPR KSU K KEY KEYS KMB KIM KMI KLAC KSS KHC KR LB LHX LH LRCX LW LVS LEG LDOS LEN LLY LNC LIN LYV LKQ LMT L LOW LYB MTB MRO MPC MKTX MAR MMC MLM International Flavors & Fragrances Intuit Inc. Intuitive Surgical Inc. Invesco Ltd. IPG Photonics Corp. IQVIA Holdings Inc. Iron Mountain Incorporated Jack Henry & Associates Jacobs Engineering Group J. B. Hunt Transport Services JM Smucker Johnson & Johnson Johnson Controls International JPMorgan Chase & Co. Juniper Networks Kansas City Southern Kellogg Co. KeyCorp Keysight Technologies Kimberly-Clark Kimco Realty Kinder Morgan KLA Corporation Kohl’s Corp. Kraft Heinz Co Kroger Co. L Brands Inc. L3Harris Technologies Laboratory Corp. of America Holding Lam Research Lamb Weston Holdings Inc Las Vegas Sands Leggett & Platt Leidos Holdings Lennar Corp. Lilly (Eli) & Co. Lincoln National Linde plc Live Nation Entertainment LKQ Corporation Lockheed Martin Corp. Loews Corp. Lowe’s Cos. LyondellBasell M&T Bank Corp. Marathon Oil Corp. Marathon Petroleum MarketAxess Marriott Int’l. Marsh & McLennan Martin Marietta Materials Materials Information Technology Health Care Financials Information Technology Health Care Real Estate Information Technology Industrials Industrials Consumer Staples Health Care Industrials Financials Information Technology Industrials Consumer Staples Financials Information Technology Consumer Staples Real Estate Energy Information Technology Consumer Discretionary Consumer Staples Consumer Staples Consumer Discretionary Industrials Health Care Information Technology Consumer Staples Consumer Discretionary Consumer Discretionary Information Technology Consumer Discretionary Health Care Financials Materials Communication Services Consumer Discretionary Industrials Financials Consumer Discretionary Materials Financials Energy Energy Financials Consumer Discretionary Financials Materials 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 MAS MA MKC MXIM MCD MCK MDT MRK MET MTD MGM MCHP MU MSFT MAA MHK TAP MDLZ MNST MCO MS MOS MSI MSCI MYL NDAQ NOV NTAP NFLX NWL NEM NWSA NWS NEE NLSN NKE NI NBL NSC NTRS NOC NLOK NCLH NRG NUE NVDA NVR ORLY OXY ODFL OMC Masco Corp. Mastercard Inc. McCormick & Co. Maxim Integrated Products Inc McDonald’s Corp. McKesson Corp. Medtronic plc Merck & Co. MetLife Inc. Mettler Toledo MGM Resorts International Microchip Technology Micron Technology Microsoft Corp. Mid-America Apartments Mohawk Industries Molson Coors Beverage Company Mondelez International Monster Beverage Moody’s Corp Morgan Stanley The Mosaic Company Motorola Solutions Inc. MSCI Inc Mylan N.V. Nasdaq, Inc. National Oilwell Varco Inc. NetApp Netflix Inc. Newell Brands Newmont Corporation News Corp. Class A News Corp. Class B NextEra Energy Nielsen Holdings Nike, Inc. NiSource Inc. Noble Energy Norfolk Southern Corp. Northern Trust Corp. Northrop Grumman NortonLifeLock Norwegian Cruise Line Holdings NRG Energy Nucor Corp. Nvidia Corporation NVR, Inc. O’Reilly Automotive Occidental Petroleum Old Dominion Freight Line Omnicom Group Industrials Information Technology Consumer Staples Information Technology Consumer Discretionary Health Care Health Care Health Care Financials Health Care Consumer Discretionary Information Technology Information Technology Information Technology Real Estate Consumer Discretionary Consumer Staples Consumer Staples Consumer Staples Financials Financials Materials Information Technology Financials Health Care Financials Energy Information Technology Communication Services Consumer Discretionary Materials Communication Services Communication Services Utilities Industrials Consumer Discretionary Utilities Energy Industrials Financials Industrials Information Technology Consumer Discretionary Utilities Materials Information Technology Consumer Discretionary Consumer Discretionary Energy Industrials Communication Services 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 387 388 389 390 391 392 393 394 395 396 397 398 399 400 401 402 403 404 405 406 407 OKE ORCL PCAR PKG PH PAYX PAYC PYPL PNR PBCT PEP PKI PRGO PFE PM PSX PNW PXD PNC PPG PPL PFG PG PGR PLD PRU PEG PSA PHM PVH QRVO PWR QCOM DGX RL RJF RTX O REG REGN RF RSG RMD RHI ROK ROL ROP ROST RCL SPGI CRM ONEOK Oracle Corp. PACCAR Inc. Packaging Corporation of America Parker-Hannifin Paychex Inc. Paycom PayPal Pentair plc People’s United Financial PepsiCo Inc. PerkinElmer Perrigo Pfizer Inc. Philip Morris International Phillips 66 Pinnacle West Capital Pioneer Natural Resources PNC Financial Services PPG Industries PPL Corp. Principal Financial Group Procter & Gamble Progressive Corp. Prologis Prudential Financial Public Service Enterprise Group (PSEG) Public Storage PulteGroup PVH Corp. Qorvo Quanta Services Inc. QUALCOMM Inc. Quest Diagnostics Ralph Lauren Corporation Raymond James Financial Inc. Raytheon Technologies Realty Income Corporation Regency Centers Corporation Regeneron Pharmaceuticals Regions Financial Corp. Republic Services Inc ResMed Robert Half International Rockwell Automation Inc. Rollins Inc. Roper Technologies Ross Stores Royal Caribbean Group S&P Global, Inc. Salesforce.com Energy Information Technology Industrials Materials Industrials Information Technology Information Technology Information Technology Industrials Financials Consumer Staples Health Care Health Care Health Care Consumer Staples Energy Utilities Energy Financials Materials Utilities Financials Consumer Staples Financials Real Estate Financials Utilities Real Estate Consumer Discretionary Consumer Discretionary Information Technology Industrials Information Technology Health Care Consumer Discretionary Financials Industrials Real Estate Real Estate Health Care Financials Industrials Health Care Industrials Industrials Industrials Industrials Consumer Discretionary Consumer Discretionary Financials Information Technology 408 409 410 411 412 413 414 415 416 417 418 419 420 421 422 423 424 425 426 427 428 429 430 431 432 433 434 435 436 437 438 439 440 441 442 443 444 445 446 447 448 449 450 451 452 453 454 455 456 457 458 SBAC SLB STX SEE SRE NOW SHW SPG SWKS SLG SNA SO LUV SWK SBUX STT STE SYK SIVB SYF SNPS SYY TMUS TROW TTWO TPR TGT TEL FTI TDY TFX TXN TXT TMO TIF TJX TSCO TT TDG TRV TFC TWTR TYL TSN UDR ULTA USB UAA UA UNP UAL SBA Communications Schlumberger Ltd. Seagate Technology Sealed Air Sempra Energy ServiceNow Sherwin-Williams Simon Property Group Inc Skyworks Solutions SL Green Realty Snap-on Southern Company Southwest Airlines Stanley Black & Decker Starbucks Corp. State Street Corp. STERIS plc Stryker Corp. SVB Financial Synchrony Financial Synopsys Inc. Sysco Corp. T-Mobile US T. Rowe Price Group Take-Two Interactive Tapestry, Inc. Target Corp. TE Connectivity Ltd. TechnipFMC Teledyne Technologies Teleflex Texas Instruments Textron Inc. Thermo Fisher Scientific Tiffany & Co. TJX Companies Inc. Tractor Supply Company Trane Technologies plc TransDigm Group The Travelers Companies Inc. Truist Financial Twitter, Inc. Tyler Technologies Tyson Foods UDR, Inc. Ulta Beauty U.S. Bancorp Under Armour(Class A) Under Armour(Class C) Union Pacific Corp United Airlines Holdings Real Estate Energy Information Technology Materials Utilities Information Technology Materials Real Estate Information Technology Real Estate Industrials Utilities Industrials Industrials Consumer Discretionary Financials Health Care Health Care Financials Financials Information Technology Consumer Staples Communication Services Financials Communication Services Consumer Discretionary Consumer Discretionary Information Technology Energy Industrials Health Care Information Technology Industrials Health Care Consumer Discretionary Consumer Discretionary Consumer Discretionary Industrials Industrials Financials Financials Communication Services Information Technology Consumer Staples Real Estate Consumer Discretionary Financials Consumer Discretionary Consumer Discretionary Industrials Industrials 459 460 461 462 463 464 465 466 467 468 469 470 471 472 473 474 475 476 477 478 479 480 481 482 483 484 485 486 487 488 489 490 491 492 493 494 495 496 497 498 499 500 501 502 503 UNH UPS URI UHS UNM VFC VLO VAR VTR VRSN VRSK VZ VRTX VIAC V VNO VMC WRB WAB WMT WBA DIS WM WAT WEC WFC WELL WST WDC WU WRK WY WHR WMB WLTW WYNN XEL XRX XLNX XYL YUM ZBRA ZBH ZION ZTS United Health Group Inc. United Parcel Service United Rentals, Inc. Universal Health Services Unum Group VF Corporation Valero Energy Varian Medical Systems Ventas Inc Verisign Inc. Verisk Analytics Verizon Communications Vertex Pharmaceuticals Inc ViacomCBS Visa Inc. Vornado Realty Trust Vulcan Materials W. R. Berkley Corporation Wabtec Corporation Walmart Walgreens Boots Alliance The Walt Disney Company Waste Management Inc. Waters Corporation WEC Energy Group Wells Fargo Welltower Inc. West Pharmaceutical Services Western Digital Western Union Co WestRock Weyerhaeuser Whirlpool Corp. Williams Companies Willis Towers Watson Wynn Resorts Ltd Xcel Energy Inc Xerox Xilinx Xylem Inc. Yum! Brands Inc Zebra Technologies Zimmer Biomet Holdings Zions Bancorp Zoetis Health Care Industrials Industrials Health Care Financials Consumer Discretionary Energy Health Care Real Estate Information Technology Industrials Communication Services Health Care Communication Services Information Technology Real Estate Materials Financials Industrials Consumer Staples Consumer Staples Communication Services Industrials Health Care Utilities Financials Real Estate Health Care Information Technology Information Technology Materials Real Estate Consumer Discretionary Energy Financials Consumer Discretionary Utilities Information Technology Information Technology Industrials Consumer Discretionary Information Technology Health Care Financials Health Care GICS Sub Industry Industrial Conglomerates Health Care Equipment Pharmaceuticals Health Care Equipment IT Consulting & Other Services Interactive Home Entertainment Application Software Semiconductors Automotive Retail Independent Power Producers & Energy Traders Life & Health Insurance Health Care Equipment Industrial Gases Internet Services & Infrastructure Airlines Specialty Chemicals Office REITs Biotechnology Health Care Supplies Building Products Electric Utilities Property & Casualty Insurance Interactive Media & Services Interactive Media & Services Tobacco Internet & Direct Marketing Retail Paper Packaging Multi-Utilities Airlines Electric Utilities Consumer Finance Property & Casualty Insurance Specialized REITs Water Utilities Asset Management & Custody Banks Health Care Distributors Electrical Components & Equipment Biotechnology Electronic Components Semiconductors Application Software Managed Health Care Insurance Brokers Building Products Oil & Gas Exploration & Production Residential REITs Technology Hardware, Storage & Peripherals Semiconductor Equipment Auto Parts & Equipment Agricultural Products Headquarters Location St. Paul, Minnesota North Chicago, Illinois North Chicago, Illinois Danvers, Massachusetts Dublin, Ireland Santa Monica, California San Jose, California Santa Clara, California Raleigh, North Carolina Arlington, Virginia Columbus, Georgia Santa Clara, California Allentown, Pennsylvania Cambridge, Massachusetts Seattle, Washington Charlotte, North Carolina Pasadena, California Boston, Massachusetts San Jose, California Dublin, Ireland Madison, Wisconsin Northfield Township, Illinois Mountain View, California Mountain View, California Richmond, Virginia Seattle, Washington Warmley, Bristol, United Kingdom St. Louis, Missouri Fort Worth, Texas Columbus, Ohio New York, New York New York, New York Boston, Massachusetts Camden, New Jersey Minneapolis, Minnesota Chesterbrook, Pennsylvania Berwyn, Pennsylvania Thousand Oaks, California Wallingford, Connecticut Norwood, Massachusetts Canonsburg, Pennsylvania Indianapolis, Indiana London, United Kingdom Milwaukee, Wisconsin Houston, Texas Denver, Colorado Cupertino, California Santa Clara, California Dublin, Ireland Chicago, Illinois Communications Equipment Insurance Brokers Multi-line Insurance Integrated Telecommunication Services Gas Utilities Application Software Internet Services & Infrastructure Specialty Stores Residential REITs Paper Packaging Oil & Gas Equipment & Services Metal & Glass Containers Diversified Banks Asset Management & Custody Banks Health Care Equipment Health Care Equipment Multi-Sector Holdings Computer & Electronics Retail Life Sciences Tools & Services Biotechnology Asset Management & Custody Banks Aerospace & Defense Internet & Direct Marketing Retail Auto Parts & Equipment Office REITs Health Care Equipment Health Care Distributors Semiconductors Data Processing & Outsourced Services Distillers & Vintners Air Freight & Logistics Oil & Gas Exploration & Production Application Software Packaged Foods & Meats Consumer Finance Health Care Distributors Specialty Stores Hotels, Resorts & Cruise Lines Construction Machinery & Heavy Trucks Financial Exchanges & Data Real Estate Services Technology Distributors Specialty Chemicals Managed Health Care Multi-Utilities Alternative Carriers Health Care Technology Fertilizers & Agricultural Chemicals Investment Banking & Brokerage Cable & Satellite Integrated Oil & Gas Santa Clara, California Itasca, Illinois New York, New York Dallas, Texas Dallas, Texas San Rafael, California Roseland, New Jersey Memphis, Tennessee Arlington, Virginia[3] Glendale, California Houston, Texas Broomfield, Colorado Charlotte, North Carolina New York, New York Deerfield, Illinois Franklin Lakes, New Jersey Omaha, Nebraska Richfield, Minnesota Hercules, California Cambridge, Massachusetts New York, New York Chicago, Illinois Norwalk, Connecticut Auburn Hills, Michigan Boston, Massachusetts Marlborough, Massachusetts[4] New York, New York San Jose, California Lake Success, New York Louisville, Kentucky Eden Prairie, Minnesota Houston, Texas San Jose, California Camden, New Jersey Tysons Corner, Virginia Dublin, Ohio Richmond, Virginia Miami, Florida Deerfield, Illinois Chicago, Illinois Los Angeles, California Lincolnshire, Illinois Irving, Texas St. Louis, Missouri Houston, Texas Monroe, Louisiana North Kansas City, Missouri Deerfield, Illinois San Francisco, California Stamford, Connecticut San Ramon, California Restaurants Property & Casualty Insurance Household Products Managed Health Care Property & Casualty Insurance Diversified Support Services Communications Equipment Diversified Banks Regional Banks Application Software Household Products Financial Exchanges & Data Multi-Utilities Soft Drinks IT Consulting & Other Services Household Products Cable & Satellite Diversified Banks Packaged Foo

Description

Follow the instruction to write 5pages report plus an Excel spreadsheetPlease read every instruction very carefullyThis assignment requires plenty of finance related knowledgesThis assignment has two parts which are written report and Excel spreadsheet. Please make sure you can handle them before you place your bidsAll the work must be originalTurnitin report is required

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Finance Discipline Group
UTS Business School
FINANCIAL METRICS FOR DECISION MAKING – SPRING 2020
ASSIGNMENT
General Instructions and Information
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This assignment accounts for 40% of students’ final grade for 25624 Financial Metrics
for Decision Making.
The assignment is to be undertaken individually.
The assignment is due on Friday the 16th of October 2020 (Week 10) by 5pm.
The assignment must be submitted via UTSOnline. You’ll need to provide a written
report and an Excel spreadsheet:
• The written report must be self-contained and formatted as a PDF file.
• Excel files will also be examined and will constitute 20% of the value of the
assignment. The Excel file should include all calculations.
The scope of this assignment is limited to [5] pages not including appendices and cover
sheet. Use standard fonts (think Calibri, Times New Roman, Arial) and standard font
sizes. There is no specific word count.
You are encouraged to use figures and tables when reporting your results.
The file names, for both the report and the Excel spreadsheet, will take the form:
“Name – Student number”. For example, if your name is Jane Doe and your student
number is 12345, then your file name will be “Jane Doe – 12345”. Please don’t write
the words “name”, “student number” or anything else in the file name.
All assignment-related questions should be posted to the Discussion Board on
UTSOnline.
Marking
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This assessment will be graded on the quality of both, the written report and the
quantitative analysis in Excel.
Marks will be awarded 70% for content and analysis, and 30% for effectiveness of
communication and presentation.
Late submissions will be allocated a mark of zero with no exceptions unless via special
consideration filing.
Files
In the Assignment folder on UTSOnline, you’ll find the following files:
§ Cover Sheet: is the cover sheet you’ll need to fill in, sign, and submit along with your
written report.
§ Data: this Excel spreadsheet contains the following worksheets:
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Cover: you’ll need provide your student details and the ‘Symbol’ for each
randomly selected stock (see Part 1) here.
S&P500 List: contains the ‘Symbol’ and the ‘Name’ of US stocks included in the
S&P500 index.
Returns: contains daily returns for the sample of US stocks in S&P500 List for
the period 3 Mar 2020 – 28 Aug 2020. In addition, this file also contains
historical data for the S&P500 index (the market portfolio) and US Treasury
Bond Yields (the risk-free rate).
US Covid Cases: contains data on new Covid-19 cases in the US, and their
average 7-day moving average percentage change, for the period 3 Mar 2020
– 28 Aug 2020
Part 1 to Part 5: use these worksheets as templates for the calculations you’ll
have to perform, and submit, as part of this assignment.
Instructions
Part 1 – Optimisation (20 marks)
§ Randomly select 10 stocks out of the sample of US stocks in S&P500 List. Ensure you
identify how you randomly selected the stocks.
• Note: include the ‘Symbol’ for each of the selected stocks in the Cover
worksheet.
§ For the sample selected, form an equally-weighted portfolio (Portfolio A) and estimate
daily returns for the period 3 Mar 2020 – 28 Aug 2020
§ For the sample selected, use the Excel add-in Solver to form a portfolio (Portfolio B)
which maximises the Sharpe Ratio for the period 3 Mar 2020 – 28 Aug 2020, under the
constraint that the total portfolio weight is one. Report the portfolio weights and
comment on the feasibility of investing according to the weights obtained.
Part 2 – Descriptive Analysis (20 marks)
§ Report daily and annualised descriptive statistics which summarise the historical
return distribution for both, Portfolio A and Portfolio B, as well as any metrics you
consider useful to depict the historical performance of both portfolios. Comment on
your findings.
Hints:
– You can report both, the pre and post-covid performance of the
portfolios and comment on the impact the pandemic has had on your
selected stocks and/or the industries they are in.
– The use of figures and charts as a visual summary of the data is highly
encouraged.
Part 3 – Hypothesis Testing (20 marks)
§ Plot histograms to contrast the return distribution of: 1) Portfolio A vs S&P500, and 2)
Portfolio B vs S&P500. Comment on your findings.
§ At 5% significance level, is the mean daily return of any of these two portfolios higher
than the mean return of the S&P 500 index? Comment on your findings.
Hints:
– Start by properly establishing both the Null and Alternative hypotheses.
– Report the type of test you would use to answer this question.
– Present and interpret your results in terms of p-values.
Part 4 – Simple Linear Regression (20 marks)
§ Estimate historical excess returns for both, Portfolio A and Portfolio B, as well as the
S&P500 index.
§ Create scatterplots to depict the historical returns of: 1) Portfolio A vs S&P500, and 2)
Portfolio B vs S&P500. Comment on the relationships observed.
§ Using the S&P500 index as the market portfolio, what is the market beta of both,
Portfolio A and Portfolio B. Which portfolio is more exposed to Systematic Risk?
§ Based on these betas, what would be the expected change in the average excess
return of both, Portfolio A and Portfolio B, to a 1% increase in the average excess
return of the market portfolio?
Part 5 – Multivariate Linear Regression (20 marks)
§ Estimate two separate regressions, one for Portfolio A and one for Portfolio B, in which
your dependent variable is the daily excess returns for each portfolio, and your
independent variable is the daily 7-day moving average percentage change in new
Covid-19 cases in the US.
§ Interpret your findings establishing: a) whether for each Portfolio the regressor is
statistically significant at a 5% significance level; and b) the effect a 1% change in the
regressor has in the average excess returns of each portfolio.
• Do you think there is an underlying economic relationship between the daily
percentage change in new Covid-19 cases and the returns of Portfolio A and Portfolio
B? If so, what can explain that relationship?
Hints:
– Discuss the impact the pandemic has had on your selected stocks
and/or the industries they are in.
§ Re-estimate the two regressions above, and this time include the following
independent variables (regressors):
1. The excess returns for the S&P500 index, and
2. The daily 7-day moving average percentage change in new Covid-19 cases
§ After including this additional regressor, what can you say about the relationship
between the daily percentage change in new Covid-19 cases and the returns of
Portfolio A and Portfolio B?
Student ID
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Surname
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Financial Metrics for Decision Making Spring 2020
Assignment
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Symbol
MMM
ABT
ABBV
ABMD
ACN
ATVI
ADBE
AMD
AAP
AES
AFL
A
APD
AKAM
ALK
ALB
ARE
ALXN
ALGN
ALLE
LNT
ALL
GOOGL
GOOG
MO
AMZN
AMCR
AEE
AAL
AEP
AXP
AIG
AMT
AWK
AMP
ABC
AME
AMGN
APH
ADI
ANSS
ANTM
AON
AOS
APA
AIV
AAPL
AMAT
APTV
ADM
Name
3M Company
Abbott Laboratories
AbbVie Inc.
ABIOMED Inc
Accenture plc
Activision Blizzard
Adobe Inc.
Advanced Micro Devices Inc
Advance Auto Parts
AES Corp
AFLAC Inc
Agilent Technologies Inc
Air Products & Chemicals Inc
Akamai Technologies Inc
Alaska Air Group Inc
Albemarle Corp
Alexandria Real Estate Equities
Alexion Pharmaceuticals
Align Technology
Allegion
Alliant Energy Corp
Allstate Corp
Alphabet Inc.(Class A)
Alphabet Inc.(Class C)
Altria Group Inc
Amazon.com Inc.
Amcor plc
Ameren Corp
American Airlines Group
American Electric Power
American Express Co
American International Group
American Tower Corp.
American Water Works Company Inc
Ameriprise Financial
AmerisourceBergen Corp
AMETEK Inc.
Amgen Inc.
Amphenol Corp
Analog Devices, Inc.
ANSYS
Anthem
Aon plc
A.O. Smith Corp
Apache Corporation
Apartment Investment & Management
Apple Inc.
Applied Materials Inc.
Aptiv PLC
Archer-Daniels-Midland Co
GICS Sector
Industrials
Health Care
Health Care
Health Care
Communication Services
Information Technology
Information Technology
Consumer Discretionary
Utilities
Financials
Health Care
Materials
Information Technology
Industrials
Materials
Real Estate
Health Care
Health Care
Industrials
Utilities
Financials
Communication Services
Communication Services
Consumer Staples
Consumer Discretionary
Materials
Utilities
Industrials
Utilities
Financials
Financials
Real Estate
Utilities
Financials
Health Care
Industrials
Health Care
Information Technology
Information Technology
Information Technology
Health Care
Financials
Industrials
Energy
Real Estate
Information Technology
Information Technology
Consumer Discretionary
Consumer Staples
51
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100
101
ANET
AJG
AIZ
T
ATO
ADSK
ADP
AZO
AVB
AVY
BKR
BLL
BAC
BK
BAX
BDX
BRK-B
BBY
BIO
BIIB
BLK
BA
BKNG
BWA
BXP
BSX
BMY
AVGO
BR
BF-B
CHRW
COG
CDNS
CPB
COF
CAH
KMX
CCL
CAT
CBOE
CBRE
CDW
CE
CNC
CNP
CTL
CERN
CF
SCHW
CHTR
CVX
Arista Networks
Arthur J. Gallagher & Co.
Assurant
AT&T Inc.
Atmos Energy
Autodesk Inc.
Automatic Data Processing
AutoZone Inc
AvalonBay Communities
Avery Dennison Corp
Baker Hughes Co
Ball Corp
Bank of America Corp
The Bank of New York Mellon
Baxter International Inc.
Becton Dickinson
Berkshire Hathaway
Best Buy Co. Inc.
Bio-Rad Laboratories
Biogen Inc.
BlackRock
Boeing Company
Booking Holdings Inc
BorgWarner
Boston Properties
Boston Scientific
Bristol-Myers Squibb
Broadcom Inc.
Broadridge Financial Solutions
Brown-Forman Corp.
C. H. Robinson Worldwide
Cabot Oil & Gas
Cadence Design Systems
Campbell Soup
Capital One Financial
Cardinal Health Inc.
Carmax Inc
Carnival Corp.
Caterpillar Inc.
Cboe Global Markets
CBRE Group
CDW
Celanese
Centene Corporation
CenterPoint Energy
CenturyLink Inc
Cerner
CF Industries Holdings Inc
Charles Schwab Corporation
Charter Communications
Chevron Corp.
Information Technology
Financials
Financials
Communication Services
Utilities
Information Technology
Information Technology
Consumer Discretionary
Real Estate
Materials
Energy
Materials
Financials
Financials
Health Care
Health Care
Financials
Consumer Discretionary
Health Care
Health Care
Financials
Industrials
Consumer Discretionary
Consumer Discretionary
Real Estate
Health Care
Health Care
Information Technology
Information Technology
Consumer Staples
Industrials
Energy
Information Technology
Consumer Staples
Financials
Health Care
Consumer Discretionary
Consumer Discretionary
Industrials
Financials
Real Estate
Information Technology
Materials
Health Care
Utilities
Communication Services
Health Care
Materials
Financials
Communication Services
Energy
102
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150
151
152
CMG
CB
CHD
CI
CINF
CTAS
CSCO
C
CFG
CTXS
CLX
CME
CMS
KO
CTSH
CL
CMCSA
CMA
CAG
CXO
COP
ED
STZ
COO
CPRT
GLW
CTVA
COST
COTY
CCI
CSX
CMI
CVS
DHI
DHR
DRI
DVA
DE
DAL
XRAY
DVN
DXCM
FANG
DLR
DFS
DISCA
DISCK
DISH
DG
DLTR
D
Chipotle Mexican Grill
Chubb Limited
Church & Dwight
CIGNA Corp.
Cincinnati Financial
Cintas Corporation
Cisco Systems
Citigroup Inc.
Citizens Financial Group
Citrix Systems
The Clorox Company
CME Group Inc.
CMS Energy
Coca-Cola Company
Cognizant Technology Solutions
Colgate-Palmolive
Comcast Corp.
Comerica Inc.
Conagra Brands
Concho Resources
ConocoPhillips
Consolidated Edison
Constellation Brands
The Cooper Companies
Copart Inc
Corning Inc.
Corteva
Costco Wholesale Corp.
Coty, Inc
Crown Castle International Corp.
CSX Corp.
Cummins Inc.
CVS Health
D. R. Horton
Danaher Corp.
Darden Restaurants
DaVita Inc.
Deere & Co.
Delta Air Lines Inc.
Dentsply Sirona
Devon Energy
DexCom
Diamondback Energy
Digital Realty Trust Inc
Discover Financial Services
Discovery, Inc.(Class A)
Discovery, Inc.(Class C)
Dish Network
Dollar General
Dollar Tree
Dominion Energy
Consumer Discretionary
Financials
Consumer Staples
Health Care
Financials
Industrials
Information Technology
Financials
Financials
Information Technology
Consumer Staples
Financials
Utilities
Consumer Staples
Information Technology
Consumer Staples
Communication Services
Financials
Consumer Staples
Energy
Energy
Utilities
Consumer Staples
Health Care
Industrials
Information Technology
Materials
Consumer Staples
Consumer Staples
Real Estate
Industrials
Industrials
Health Care
Consumer Discretionary
Health Care
Consumer Discretionary
Health Care
Industrials
Industrials
Health Care
Energy
Health Care
Energy
Real Estate
Financials
Communication Services
Communication Services
Communication Services
Consumer Discretionary
Consumer Discretionary
Utilities
153
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DPZ
DOV
DOW
DTE
DUK
DRE
DD
DXC
ETFC
EMN
ETN
EBAY
ECL
EIX
EW
EA
EMR
ETR
EOG
EFX
EQIX
EQR
ESS
EL
EVRG
ES
RE
EXC
EXPE
EXPD
EXR
XOM
FFIV
FB
FAST
FRT
FDX
FIS
FITB
FE
FRC
FISV
FLT
FLIR
FLS
FMC
F
FTNT
FTV
FBHS
FOXA
Domino’s Pizza
Dover Corporation
Dow Inc.
DTE Energy Co.
Duke Energy
Duke Realty Corp
DuPont de Nemours Inc
DXC Technology
E*Trade
Eastman Chemical
Eaton Corporation
eBay Inc.
Ecolab Inc.
Edison Int’l
Edwards Lifesciences
Electronic Arts
Emerson Electric Company
Entergy Corp.
EOG Resources
Equifax Inc.
Equinix
Equity Residential
Essex Property Trust, Inc.
Estée Lauder Companies
Evergy
Eversource Energy
Everest Re Group Ltd.
Exelon Corp.
Expedia Group
Expeditors
Extra Space Storage
Exxon Mobil Corp.
F5 Networks
Facebook, Inc.
Fastenal Co
Federal Realty Investment Trust
FedEx Corporation
Fidelity National Information Services
Fifth Third Bancorp
FirstEnergy Corp
First Republic Bank
Fiserv Inc
FleetCor Technologies Inc
FLIR Systems
Flowserve Corporation
FMC Corporation
Ford Motor Company
Fortinet
Fortive Corp
Fortune Brands Home & Security
Fox Corporation(Class A)
Consumer Discretionary
Industrials
Materials
Utilities
Utilities
Real Estate
Materials
Information Technology
Financials
Materials
Industrials
Consumer Discretionary
Materials
Utilities
Health Care
Communication Services
Industrials
Utilities
Energy
Industrials
Real Estate
Real Estate
Real Estate
Consumer Staples
Utilities
Utilities
Financials
Utilities
Consumer Discretionary
Industrials
Real Estate
Energy
Information Technology
Communication Services
Industrials
Real Estate
Industrials
Information Technology
Financials
Utilities
Financials
Information Technology
Information Technology
Information Technology
Industrials
Materials
Consumer Discretionary
Information Technology
Industrials
Industrials
Communication Services
204
205
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207
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254
FOX
BEN
FCX
GPS
GRMN
IT
GD
GE
GIS
GM
GPC
GILD
GL
GPN
GS
GWW
HRB
HAL
HBI
HIG
HAS
HCA
PEAK
HSIC
HSY
HES
HPE
HLT
HFC
HOLX
HD
HON
HRL
HST
HWM
HPQ
HUM
HBAN
HII
IEX
IDXX
INFO
ITW
ILMN
INCY
IR
INTC
ICE
IBM
IP
IPG
Fox Corporation(Class B)
Franklin Resources
Freeport-McMoRan Inc.
Gap Inc.
Garmin Ltd.
Gartner Inc
General Dynamics
General Electric
General Mills
General Motors
Genuine Parts
Gilead Sciences
Globe Life Inc.
Global Payments Inc.
Goldman Sachs Group
Grainger (W.W.) Inc.
H&R Block
Halliburton Co.
Hanesbrands Inc
Hartford Financial Svc.Gp.
Hasbro Inc.
HCA Healthcare
Healthpeak Properties
Henry Schein
The Hershey Company
Hess Corporation
Hewlett Packard Enterprise
Hilton Worldwide Holdings Inc
HollyFrontier Corp
Hologic
Home Depot
Honeywell Int’l Inc.
Hormel Foods Corp.
Host Hotels & Resorts
Howmet Aerospace
HP Inc.
Humana Inc.
Huntington Bancshares
Huntington Ingalls Industries
IDEX Corporation
IDEXX Laboratories
IHS Markit Ltd.
Illinois Tool Works
Illumina Inc
Incyte
Ingersoll Rand
Intel Corp.
Intercontinental Exchange
International Business Machines
International Paper
Interpublic Group
Communication Services
Financials
Materials
Consumer Discretionary
Consumer Discretionary
Information Technology
Industrials
Industrials
Consumer Staples
Consumer Discretionary
Consumer Discretionary
Health Care
Financials
Information Technology
Financials
Industrials
Consumer Discretionary
Energy
Consumer Discretionary
Financials
Consumer Discretionary
Health Care
Real Estate
Health Care
Consumer Staples
Energy
Information Technology
Consumer Discretionary
Energy
Health Care
Consumer Discretionary
Industrials
Consumer Staples
Real Estate
Industrials
Information Technology
Health Care
Financials
Industrials
Industrials
Health Care
Industrials
Industrials
Health Care
Health Care
Industrials
Information Technology
Financials
Information Technology
Materials
Communication Services
255
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305
IFF
INTU
ISRG
IVZ
IPGP
IQV
IRM
JKHY
J
JBHT
SJM
JNJ
JCI
JPM
JNPR
KSU
K
KEY
KEYS
KMB
KIM
KMI
KLAC
KSS
KHC
KR
LB
LHX
LH
LRCX
LW
LVS
LEG
LDOS
LEN
LLY
LNC
LIN
LYV
LKQ
LMT
L
LOW
LYB
MTB
MRO
MPC
MKTX
MAR
MMC
MLM
International Flavors & Fragrances
Intuit Inc.
Intuitive Surgical Inc.
Invesco Ltd.
IPG Photonics Corp.
IQVIA Holdings Inc.
Iron Mountain Incorporated
Jack Henry & Associates
Jacobs Engineering Group
J. B. Hunt Transport Services
JM Smucker
Johnson & Johnson
Johnson Controls International
JPMorgan Chase & Co.
Juniper Networks
Kansas City Southern
Kellogg Co.
KeyCorp
Keysight Technologies
Kimberly-Clark
Kimco Realty
Kinder Morgan
KLA Corporation
Kohl’s Corp.
Kraft Heinz Co
Kroger Co.
L Brands Inc.
L3Harris Technologies
Laboratory Corp. of America Holding
Lam Research
Lamb Weston Holdings Inc
Las Vegas Sands
Leggett & Platt
Leidos Holdings
Lennar Corp.
Lilly (Eli) & Co.
Lincoln National
Linde plc
Live Nation Entertainment
LKQ Corporation
Lockheed Martin Corp.
Loews Corp.
Lowe’s Cos.
LyondellBasell
M&T Bank Corp.
Marathon Oil Corp.
Marathon Petroleum
MarketAxess
Marriott Int’l.
Marsh & McLennan
Martin Marietta Materials
Materials
Information Technology
Health Care
Financials
Information Technology
Health Care
Real Estate
Information Technology
Industrials
Industrials
Consumer Staples
Health Care
Industrials
Financials
Information Technology
Industrials
Consumer Staples
Financials
Information Technology
Consumer Staples
Real Estate
Energy
Information Technology
Consumer Discretionary
Consumer Staples
Consumer Staples
Consumer Discretionary
Industrials
Health Care
Information Technology
Consumer Staples
Consumer Discretionary
Consumer Discretionary
Information Technology
Consumer Discretionary
Health Care
Financials
Materials
Communication Services
Consumer Discretionary
Industrials
Financials
Consumer Discretionary
Materials
Financials
Energy
Energy
Financials
Consumer Discretionary
Financials
Materials
306
307
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309
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319
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321
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323
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348
349
350
351
352
353
354
355
356
MAS
MA
MKC
MXIM
MCD
MCK
MDT
MRK
MET
MTD
MGM
MCHP
MU
MSFT
MAA
MHK
TAP
MDLZ
MNST
MCO
MS
MOS
MSI
MSCI
MYL
NDAQ
NOV
NTAP
NFLX
NWL
NEM
NWSA
NWS
NEE
NLSN
NKE
NI
NBL
NSC
NTRS
NOC
NLOK
NCLH
NRG
NUE
NVDA
NVR
ORLY
OXY
ODFL
OMC
Masco Corp.
Mastercard Inc.
McCormick & Co.
Maxim Integrated Products Inc
McDonald’s Corp.
McKesson Corp.
Medtronic plc
Merck & Co.
MetLife Inc.
Mettler Toledo
MGM Resorts International
Microchip Technology
Micron Technology
Microsoft Corp.
Mid-America Apartments
Mohawk Industries
Molson Coors Beverage Company
Mondelez International
Monster Beverage
Moody’s Corp
Morgan Stanley
The Mosaic Company
Motorola Solutions Inc.
MSCI Inc
Mylan N.V.
Nasdaq, Inc.
National Oilwell Varco Inc.
NetApp
Netflix Inc.
Newell Brands
Newmont Corporation
News Corp. Class A
News Corp. Class B
NextEra Energy
Nielsen Holdings
Nike, Inc.
NiSource Inc.
Noble Energy
Norfolk Southern Corp.
Northern Trust Corp.
Northrop Grumman
NortonLifeLock
Norwegian Cruise Line Holdings
NRG Energy
Nucor Corp.
Nvidia Corporation
NVR, Inc.
O’Reilly Automotive
Occidental Petroleum
Old Dominion Freight Line
Omnicom Group
Industrials
Information Technology
Consumer Staples
Information Technology
Consumer Discretionary
Health Care
Health Care
Health Care
Financials
Health Care
Consumer Discretionary
Information Technology
Information Technology
Information Technology
Real Estate
Consumer Discretionary
Consumer Staples
Consumer Staples
Consumer Staples
Financials
Financials
Materials
Information Technology
Financials
Health Care
Financials
Energy
Information Technology
Communication Services
Consumer Discretionary
Materials
Communication Services
Communication Services
Utilities
Industrials
Consumer Discretionary
Utilities
Energy
Industrials
Financials
Industrials
Information Technology
Consumer Discretionary
Utilities
Materials
Information Technology
Consumer Discretionary
Consumer Discretionary
Energy
Industrials
Communication Services
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401
402
403
404
405
406
407
OKE
ORCL
PCAR
PKG
PH
PAYX
PAYC
PYPL
PNR
PBCT
PEP
PKI
PRGO
PFE
PM
PSX
PNW
PXD
PNC
PPG
PPL
PFG
PG
PGR
PLD
PRU
PEG
PSA
PHM
PVH
QRVO
PWR
QCOM
DGX
RL
RJF
RTX
O
REG
REGN
RF
RSG
RMD
RHI
ROK
ROL
ROP
ROST
RCL
SPGI
CRM
ONEOK
Oracle Corp.
PACCAR Inc.
Packaging Corporation of America
Parker-Hannifin
Paychex Inc.
Paycom
PayPal
Pentair plc
People’s United Financial
PepsiCo Inc.
PerkinElmer
Perrigo
Pfizer Inc.
Philip Morris International
Phillips 66
Pinnacle West Capital
Pioneer Natural Resources
PNC Financial Services
PPG Industries
PPL Corp.
Principal Financial Group
Procter & Gamble
Progressive Corp.
Prologis
Prudential Financial
Public Service Enterprise Group (PSEG)
Public Storage
PulteGroup
PVH Corp.
Qorvo
Quanta Services Inc.
QUALCOMM Inc.
Quest Diagnostics
Ralph Lauren Corporation
Raymond James Financial Inc.
Raytheon Technologies
Realty Income Corporation
Regency Centers Corporation
Regeneron Pharmaceuticals
Regions Financial Corp.
Republic Services Inc
ResMed
Robert Half International
Rockwell Automation Inc.
Rollins Inc.
Roper Technologies
Ross Stores
Royal Caribbean Group
S&P Global, Inc.
Salesforce.com
Energy
Information Technology
Industrials
Materials
Industrials
Information Technology
Information Technology
Information Technology
Industrials
Financials
Consumer Staples
Health Care
Health Care
Health Care
Consumer Staples
Energy
Utilities
Energy
Financials
Materials
Utilities
Financials
Consumer Staples
Financials
Real Estate
Financials
Utilities
Real Estate
Consumer Discretionary
Consumer Discretionary
Information Technology
Industrials
Information Technology
Health Care
Consumer Discretionary
Financials
Industrials
Real Estate
Real Estate
Health Care
Financials
Industrials
Health Care
Industrials
Industrials
Industrials
Industrials
Consumer Discretionary
Consumer Discretionary
Financials
Information Technology
408
409
410
411
412
413
414
415
416
417
418
419
420
421
422
423
424
425
426
427
428
429
430
431
432
433
434
435
436
437
438
439
440
441
442
443
444
445
446
447
448
449
450
451
452
453
454
455
456
457
458
SBAC
SLB
STX
SEE
SRE
NOW
SHW
SPG
SWKS
SLG
SNA
SO
LUV
SWK
SBUX
STT
STE
SYK
SIVB
SYF
SNPS
SYY
TMUS
TROW
TTWO
TPR
TGT
TEL
FTI
TDY
TFX
TXN
TXT
TMO
TIF
TJX
TSCO
TT
TDG
TRV
TFC
TWTR
TYL
TSN
UDR
ULTA
USB
UAA
UA
UNP
UAL
SBA Communications
Schlumberger Ltd.
Seagate Technology
Sealed Air
Sempra Energy
ServiceNow
Sherwin-Williams
Simon Property Group Inc
Skyworks Solutions
SL Green Realty
Snap-on
Southern Company
Southwest Airlines
Stanley Black & Decker
Starbucks Corp.
State Street Corp.
STERIS plc
Stryker Corp.
SVB Financial
Synchrony Financial
Synopsys Inc.
Sysco Corp.
T-Mobile US
T. Rowe Price Group
Take-Two Interactive
Tapestry, Inc.
Target Corp.
TE Connectivity Ltd.
TechnipFMC
Teledyne Technologies
Teleflex
Texas Instruments
Textron Inc.
Thermo Fisher Scientific
Tiffany & Co.
TJX Companies Inc.
Tractor Supply Company
Trane Technologies plc
TransDigm Group
The Travelers Companies Inc.
Truist Financial
Twitter, Inc.
Tyler Technologies
Tyson Foods
UDR, Inc.
Ulta Beauty
U.S. Bancorp
Under Armour(Class A)
Under Armour(Class C)
Union Pacific Corp
United Airlines Holdings
Real Estate
Energy
Information Technology
Materials
Utilities
Information Technology
Materials
Real Estate
Information Technology
Real Estate
Industrials
Utilities
Industrials
Industrials
Consumer Discretionary
Financials
Health Care
Health Care
Financials
Financials
Information Technology
Consumer Staples
Communication Services
Financials
Communication Services
Consumer Discretionary
Consumer Discretionary
Information Technology
Energy
Industrials
Health Care
Information Technology
Industrials
Health Care
Consumer Discretionary
Consumer Discretionary
Consumer Discretionary
Industrials
Industrials
Financials
Financials
Communication Services
Information Technology
Consumer Staples
Real Estate
Consumer Discretionary
Financials
Consumer Discretionary
Consumer Discretionary
Industrials
Industrials
459
460
461
462
463
464
465
466
467
468
469
470
471
472
473
474
475
476
477
478
479
480
481
482
483
484
485
486
487
488
489
490
491
492
493
494
495
496
497
498
499
500
501
502
503
UNH
UPS
URI
UHS
UNM
VFC
VLO
VAR
VTR
VRSN
VRSK
VZ
VRTX
VIAC
V
VNO
VMC
WRB
WAB
WMT
WBA
DIS
WM
WAT
WEC
WFC
WELL
WST
WDC
WU
WRK
WY
WHR
WMB
WLTW
WYNN
XEL
XRX
XLNX
XYL
YUM
ZBRA
ZBH
ZION
ZTS
United Health Group Inc.
United Parcel Service
United Rentals, Inc.
Universal Health Services
Unum Group
VF Corporation
Valero Energy
Varian Medical Systems
Ventas Inc
Verisign Inc.
Verisk Analytics
Verizon Communications
Vertex Pharmaceuticals Inc
ViacomCBS
Visa Inc.
Vornado Realty Trust
Vulcan Materials
W. R. Berkley Corporation
Wabtec Corporation
Walmart
Walgreens Boots Alliance
The Walt Disney Company
Waste Management Inc.
Waters Corporation
WEC Energy Group
Wells Fargo
Welltower Inc.
West Pharmaceutical Services
Western Digital
Western Union Co
WestRock
Weyerhaeuser
Whirlpool Corp.
Williams Companies
Willis Towers Watson
Wynn Resorts Ltd
Xcel Energy Inc
Xerox
Xilinx
Xylem Inc.
Yum! Brands Inc
Zebra Technologies
Zimmer Biomet Holdings
Zions Bancorp
Zoetis
Health Care
Industrials
Industrials
Health Care
Financials
Consumer Discretionary
Energy
Health Care
Real Estate
Information Technology
Industrials
Communication Services
Health Care
Communication Services
Information Technology
Real Estate
Materials
Financials
Industrials
Consumer Staples
Consumer Staples
Communication Services
Industrials
Health Care
Utilities
Financials
Real Estate
Health Care
Information Technology
Information Technology
Materials
Real Estate
Consumer Discretionary
Energy
Financials
Consumer Discretionary
Utilities
Information Technology
Information Technology
Industrials
Consumer Discretionary
Information Technology
Health Care
Financials
Health Care
GICS Sub Industry
Industrial Conglomerates
Health Care Equipment
Pharmaceuticals
Health Care Equipment
IT Consulting & Other Services
Interactive Home Entertainment
Application Software
Semiconductors
Automotive Retail
Independent Power Producers & Energy Traders
Life & Health Insurance
Health Care Equipment
Industrial Gases
Internet Services & Infrastructure
Airlines
Specialty Chemicals
Office REITs
Biotechnology
Health Care Supplies
Building Products
Electric Utilities
Property & Casualty Insurance
Interactive Media & Services
Interactive Media & Services
Tobacco
Internet & Direct Marketing Retail
Paper Packaging
Multi-Utilities
Airlines
Electric Utilities
Consumer Finance
Property & Casualty Insurance
Specialized REITs
Water Utilities
Asset Management & Custody Banks
Health Care Distributors
Electrical Components & Equipment
Biotechnology
Electronic Components
Semiconductors
Application Software
Managed Health Care
Insurance Brokers
Building Products
Oil & Gas Exploration & Production
Residential REITs
Technology Hardware, Storage & Peripherals
Semiconductor Equipment
Auto Parts & Equipment
Agricultural Products
Headquarters Location
St. Paul, Minnesota
North Chicago, Illinois
North Chicago, Illinois
Danvers, Massachusetts
Dublin, Ireland
Santa Monica, California
San Jose, California
Santa Clara, California
Raleigh, North Carolina
Arlington, Virginia
Columbus, Georgia
Santa Clara, California
Allentown, Pennsylvania
Cambridge, Massachusetts
Seattle, Washington
Charlotte, North Carolina
Pasadena, California
Boston, Massachusetts
San Jose, California
Dublin, Ireland
Madison, Wisconsin
Northfield Township, Illinois
Mountain View, California
Mountain View, California
Richmond, Virginia
Seattle, Washington
Warmley, Bristol, United Kingdom
St. Louis, Missouri
Fort Worth, Texas
Columbus, Ohio
New York, New York
New York, New York
Boston, Massachusetts
Camden, New Jersey
Minneapolis, Minnesota
Chesterbrook, Pennsylvania
Berwyn, Pennsylvania
Thousand Oaks, California
Wallingford, Connecticut
Norwood, Massachusetts
Canonsburg, Pennsylvania
Indianapolis, Indiana
London, United Kingdom
Milwaukee, Wisconsin
Houston, Texas
Denver, Colorado
Cupertino, California
Santa Clara, California
Dublin, Ireland
Chicago, Illinois
Communications Equipment
Insurance Brokers
Multi-line Insurance
Integrated Telecommunication Services
Gas Utilities
Application Software
Internet Services & Infrastructure
Specialty Stores
Residential REITs
Paper Packaging
Oil & Gas Equipment & Services
Metal & Glass Containers
Diversified Banks
Asset Management & Custody Banks
Health Care Equipment
Health Care Equipment
Multi-Sector Holdings
Computer & Electronics Retail
Life Sciences Tools & Services
Biotechnology
Asset Management & Custody Banks
Aerospace & Defense
Internet & Direct Marketing Retail
Auto Parts & Equipment
Office REITs
Health Care Equipment
Health Care Distributors
Semiconductors
Data Processing & Outsourced Services
Distillers & Vintners
Air Freight & Logistics
Oil & Gas Exploration & Production
Application Software
Packaged Foods & Meats
Consumer Finance
Health Care Distributors
Specialty Stores
Hotels, Resorts & Cruise Lines
Construction Machinery & Heavy Trucks
Financial Exchanges & Data
Real Estate Services
Technology Distributors
Specialty Chemicals
Managed Health Care
Multi-Utilities
Alternative Carriers
Health Care Technology
Fertilizers & Agricultural Chemicals
Investment Banking & Brokerage
Cable & Satellite
Integrated Oil & Gas
Santa Clara, California
Itasca, Illinois
New York, New York
Dallas, Texas
Dallas, Texas
San Rafael, California
Roseland, New Jersey
Memphis, Tennessee
Arlington, Virginia[3]
Glendale, California
Houston, Texas
Broomfield, Colorado
Charlotte, North Carolina
New York, New York
Deerfield, Illinois
Franklin Lakes, New Jersey
Omaha, Nebraska
Richfield, Minnesota
Hercules, California
Cambridge, Massachusetts
New York, New York
Chicago, Illinois
Norwalk, Connecticut
Auburn Hills, Michigan
Boston, Massachusetts
Marlborough, Massachusetts[4]
New York, New York
San Jose, California
Lake Success, New York
Louisville, Kentucky
Eden Prairie, Minnesota
Houston, Texas
San Jose, California
Camden, New Jersey
Tysons Corner, Virginia
Dublin, Ohio
Richmond, Virginia
Miami, Florida
Deerfield, Illinois
Chicago, Illinois
Los Angeles, California
Lincolnshire, Illinois
Irving, Texas
St. Louis, Missouri
Houston, Texas
Monroe, Louisiana
North Kansas City, Missouri
Deerfield, Illinois
San Francisco, California
Stamford, Connecticut
San Ramon, California
Restaurants
Property & Casualty Insurance
Household Products
Managed Health Care
Property & Casualty Insurance
Diversified Support Services
Communications Equipment
Diversified Banks
Regional Banks
Application Software
Household Products
Financial Exchanges & Data
Multi-Utilities
Soft Drinks
IT Consulting & Other Services
Household Products
Cable & Satellite
Diversified Banks
Packaged Foo