The current financial education framework has an increasing need to introduce tools that facilitate the application of theoretical models to real-world data and contexts. However, only a limited number of free tools are available for this purpose. Given
To explain medium-term momentum and long-term reversal, we use the difference between the optional model and the CAPM model to construct a winner-loser portfolio. According to the CAPM model’s zero explanatory ability with respect to stock market anomal
For further comprehensive analysis of indices’ performance, risk-adjusted CAPM model is estimated (as described in equation 1) and results of CAPM estimation are presented in Table 2. It is clearly evident from the Table 2 that Jensen’s Alpha is positive for both indices but statistically sign...