Problem $11-09$

Activity Frame over the past $24$ months.

Value Index Annualized Growth Index Annualized calculations. Round your answers to two decimal places.

The Value Index: $\backslash \%$

The Growth Index: answers from part $($a$).$ Do not round intermediate calculations. Round your answers to two decimal places. Negative values, if any, should be indicated by a minus sign. If your answer is zero, enter $0.$

The average of the return in the differential series is $-$Select$$ the difference in the arithmetic means. The correct graph is

Activity Frame indicated by a minus sign.

A hedge fund that was following a strategy to go long in value stocks and short in growth stocks would $-$Selectquite profitable. The hedge fund would have $-$Selectthe average annualized return in the Value Index of $\backslash \%,$ thus it the additional risk premium of $\backslash (\backslash \%\backslash ).$ Round your answers to two decimal places.

$\backslash [$

$\backslash \%$

$\backslash ]$

What, if anything, does this tell you about the reliability of the value risk premium over time?

This means that the value risk premium of