ANF - Detail Report

Quick Overview

Timeframe	C-C DoR σ (Historical)	H-L DoR σ (Historical)	O-C DoR σ (Historical)	5Y ATRP (Avg)	Binomial IV (Period)	Yahoo IV (Period)	1σ Lower (68.27%)	1σ Upper	2σ Lower (95.45%)	2σ Upper
Daily	3.53%	2.59%	2.84%	4.88%	4.23%	4.32%	92.42	100.57	88.59	104.92
Weekly	8.01%	7.26%	8.17%	11.65%	9.31%	9.51%	87.84	105.82	80.03	116.14
Monthly	15.47%	16.30%	16.45%	26.32%	19.38%	19.79%	79.42	117.03	65.43	142.05
Quarterly	29.85%	28.96%	31.06%	49.85%	33.57%	34.28%	68.92	134.87	49.27	188.66
Annual	—	—	—	—	67.13%	68.57%	49.27	188.66	25.18	369.18
Option Time Horizon	—	—	—	—	25.82%	26.37%	74.47	124.81	57.52	161.59

Calculation Notes: Computed at 2026-02-22T14:23 UTC | Reference Contract: Call option expiring 2026-04-17 (54 days) | Spot Price (S): $96.41 | Strike (K): $100.00 (first OTM call ≥ spot) | Observed Mid-Price: $8.7000 (Bid $8.1000 / Ask $9.3000) | Risk-Free Rate (r): 3.72% (1-Month CMT, US Treasury) | Dividend Yield (q): 0.00% | Binomial IV (Annual): 67.13% (CRR binomial tree, American, n=20 steps) | BS IV: 67.73% (European Black-Scholes) | Yahoo IV (Annual): 68.57% → period-scaled as σ_period = σ_annual·√h | Price bands: Upper = S·e^+σ√h, Lower = S·e^−σ√h

Historical Dividend Payouts

Ex-Dividend Date	Amount
2020-03-05	$0.2000
2019-12-05	$0.2000
2019-09-05	$0.2000
2019-06-06	$0.2000
2019-03-07	$0.2000
2018-12-06	$0.2000
2018-09-06	$0.2000
2018-06-07	$0.2000
2018-03-08	$0.2000
2017-11-30	$0.2000
2017-08-30	$0.2000
2017-05-31	$0.2000
2017-03-01	$0.2000
2016-11-30	$0.2000
2016-08-31	$0.2000
2016-06-01	$0.2000
2016-03-02	$0.2000
2015-11-27	$0.2000
2015-08-28	$0.2000
2015-05-29	$0.2000
2015-02-27	$0.2000
2014-11-28	$0.2000
2014-08-28	$0.2000
2014-06-03	$0.2000
2014-03-04	$0.2000
2013-11-27	$0.2000
2013-08-29	$0.2000
2013-05-30	$0.2000
2013-02-28	$0.2000
2012-11-21	$0.1750
2012-08-23	$0.1750
2012-05-24	$0.1750
2012-02-23	$0.1750
2011-11-23	$0.1750
2011-08-25	$0.1750
2011-05-25	$0.1750
2011-02-23	$0.1750
2010-11-23	$0.1750
2010-08-25	$0.1750
2010-05-26	$0.1750
2010-02-24	$0.1750
2009-11-24	$0.1750
2009-08-26	$0.1750
2009-05-27	$0.1750
2009-02-25	$0.1750
2008-11-25	$0.1750
2008-08-27	$0.1750
2008-05-28	$0.1750
2008-02-27	$0.1750
2007-11-30	$0.1750
2007-08-30	$0.1750
2007-06-01	$0.1750
2007-03-02	$0.1750
2006-11-24	$0.1750
2006-08-25	$0.1750
2006-05-25	$0.1750
2006-02-24	$0.1750
2005-11-25	$0.1750
2005-08-26	$0.1750
2005-05-27	$0.1250
2005-02-25	$0.1250
2004-11-26	$0.1250
2004-08-27	$0.1250
2004-05-27	$0.1250
2004-03-05	$0.1250

Close-to-Close Returns

Gram-Charlier Analysis: Data reveals Fairly Symmetrical with a Skewness factor of 0.40. Further, an Excess Kurtosis of 10.70 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -10.50%	56	0.76%	0.76%
-10.50% to -7.85%	55	0.74%	1.50%
-7.85% to -5.20%	220	2.97%	4.48%
-5.20% to -2.55%	836	11.30%	15.78%
-2.55% to 0.10%	2578	34.86%	50.64%
0.10% to 2.75%	2481	33.55%	84.18%
2.75% to 5.39%	831	11.24%	95.42%
5.39% to 8.04%	214	2.89%	98.31%
8.04% to 10.69%	62	0.84%	99.15%
Greater than 10.69%	63	0.85%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-3.44%	3.63%	80.12%	68.27%
±2σ	-6.97%	7.16%	95.59%	95.45%
±3σ	-10.50%	10.69%	98.39%	99.73%

Descriptive Statistics

Mean	0.096%
Standard Error	0.041%
Median	0.056%
Mode	0.000%
Standard Deviation	3.532%
Sample Variance	12.474%
Kurtosis	10.70
Skewness	0.40
Range	66.122%
Minimum	-28.582%
Maximum	37.540%
Count	7396

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	2.446%	3746	50.65%	1.239%
Negative	-2.372%	3562	48.16%	-1.142%
Zero	0.000%	88	1.19%	0.000%

Average True Range Percentage (ATRP)

Trading Days	Horizon	Average Daily True Range %
5	1 Week	4.88%
20	1 Month	4.61%
60	1 Quarter	5.54%
250	1 Year	5.10%
750	3 Years	4.62%
1,250	5 Years	4.88%
2,500	10 Years	4.82%
5,000	20 Years	4.32%
12,500	50 Years	4.43%

High-to-Low Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 3.26. Further, an Excess Kurtosis of 23.57 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -3.58%	0	0.00%	0.00%
-3.58% to -1.64%	0	0.00%	0.00%
-1.64% to 0.31%	0	0.00%	0.00%
0.31% to 2.25%	1238	16.74%	16.74%
2.25% to 4.20%	3373	45.60%	62.34%
4.20% to 6.14%	1674	22.63%	84.97%
6.14% to 8.09%	635	8.58%	93.55%
8.09% to 10.03%	240	3.24%	96.80%
10.03% to 11.98%	120	1.62%	98.42%
Greater than 11.98%	117	1.58%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	1.61%	6.79%	84.17%	68.27%
±2σ	-0.99%	9.38%	96.01%	95.45%
±3σ	-3.58%	11.98%	98.42%	99.73%

Descriptive Statistics

Mean	4.198%
Standard Error	0.030%
Median	3.571%
Mode	2.564%
Standard Deviation	2.593%
Sample Variance	6.725%
Kurtosis	23.57
Skewness	3.26
Range	44.271%
Minimum	0.649%
Maximum	44.920%
Count	7397

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	4.198%	7397	100.00%	4.198%
Negative	0.000%	0	0.00%	0.000%
Zero	0.000%	0	0.00%	0.000%

Open-to-Close Returns

Gram-Charlier Analysis: Data reveals Fairly Symmetrical with a Skewness factor of 0.31. Further, an Excess Kurtosis of 4.95 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -8.46%	44	0.59%	0.59%
-8.46% to -6.33%	71	0.96%	1.55%
-6.33% to -4.20%	287	3.88%	5.43%
-4.20% to -2.07%	958	12.95%	18.39%
-2.07% to 0.06%	2389	32.30%	50.68%
0.06% to 2.19%	2304	31.15%	81.83%
2.19% to 4.32%	937	12.67%	94.50%
4.32% to 6.45%	265	3.58%	98.08%
6.45% to 8.58%	99	1.34%	99.42%
Greater than 8.58%	43	0.58%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-2.78%	2.90%	75.72%	68.27%
±2σ	-5.62%	5.74%	95.13%	95.45%
±3σ	-8.46%	8.58%	98.82%	99.73%

Descriptive Statistics

Mean	0.059%
Standard Error	0.033%
Median	0.000%
Mode	0.000%
Standard Deviation	2.839%
Sample Variance	8.060%
Kurtosis	4.95
Skewness	0.31
Range	43.216%
Minimum	-19.701%
Maximum	23.515%
Count	7397

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	2.117%	3698	49.99%	1.058%
Negative	-2.042%	3621	48.95%	-1.000%
Zero	0.000%	78	1.05%	0.000%

Close-to-Close Returns

Gram-Charlier Analysis: Data reveals Fairly Symmetrical with a Skewness factor of 0.23. Further, an Excess Kurtosis of 4.21 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -23.54%	11	0.72%	0.72%
-23.54% to -17.53%	23	1.50%	2.22%
-17.53% to -11.53%	40	2.61%	4.82%
-11.53% to -5.52%	182	11.86%	16.69%
-5.52% to 0.48%	531	34.62%	51.30%
0.48% to 6.49%	482	31.42%	82.72%
6.49% to 12.49%	174	11.34%	94.07%
12.49% to 18.50%	62	4.04%	98.11%
18.50% to 24.50%	20	1.30%	99.41%
Greater than 24.50%	9	0.59%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-7.52%	8.49%	77.31%	68.27%
±2σ	-15.53%	16.50%	94.52%	95.45%
±3σ	-23.54%	24.50%	98.70%	99.73%

Descriptive Statistics

Mean	0.483%
Standard Error	0.204%
Median	0.256%
Mode	0.000%
Standard Deviation	8.007%
Sample Variance	64.109%
Kurtosis	4.21
Skewness	0.23
Range	93.207%
Minimum	-37.895%
Maximum	55.312%
Count	1534

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	5.957%	795	51.83%	3.087%
Negative	-5.459%	732	47.72%	-2.605%
Zero	0.000%	7	0.46%	0.000%

Average True Range Percentage (ATRP)

Weeks	Horizon	Average Weekly True Range %
4	1 Month	9.84%
12	1 Quarter	12.30%
52	1 Year	12.61%
156	3 Years	11.37%
260	5 Years	11.65%
520	10 Years	11.48%
1,040	20 Years	10.24%
2,600	50 Years	10.66%

High-to-Low Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 2.41. Further, an Excess Kurtosis of 9.42 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -10.45%	0	0.00%	0.00%
-10.45% to -5.01%	0	0.00%	0.00%
-5.01% to 0.44%	0	0.00%	0.00%
0.44% to 5.88%	292	19.02%	19.02%
5.88% to 11.32%	676	44.04%	63.06%
11.32% to 16.77%	331	21.56%	84.63%
16.77% to 22.21%	120	7.82%	92.44%
22.21% to 27.66%	59	3.84%	96.29%
27.66% to 33.10%	26	1.69%	97.98%
Greater than 33.10%	31	2.02%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	4.07%	18.58%	83.19%	68.27%
±2σ	-3.19%	25.84%	94.92%	95.45%
±3σ	-10.45%	33.10%	97.98%	99.73%

Descriptive Statistics

Mean	11.325%
Standard Error	0.185%
Median	9.433%
Mode	6.298%
Standard Deviation	7.258%
Sample Variance	52.676%
Kurtosis	9.42
Skewness	2.41
Range	69.597%
Minimum	2.333%
Maximum	71.930%
Count	1535

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	11.325%	1535	100.00%	11.325%
Negative	0.000%	0	0.00%	0.000%
Zero	0.000%	0	0.00%	0.000%

Open-to-Close Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 1.33. Further, an Excess Kurtosis of 7.39 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -24.23%	4	0.26%	0.26%
-24.23% to -18.10%	15	0.98%	1.24%
-18.10% to -11.97%	52	3.39%	4.63%
-11.97% to -5.85%	201	13.09%	17.72%
-5.85% to 0.28%	541	35.24%	52.96%
0.28% to 6.41%	483	31.47%	84.43%
6.41% to 12.54%	157	10.23%	94.66%
12.54% to 18.67%	44	2.87%	97.52%
18.67% to 24.80%	21	1.37%	98.89%
Greater than 24.80%	17	1.11%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-7.89%	8.46%	78.76%	68.27%
±2σ	-16.06%	16.63%	95.37%	95.45%
±3σ	-24.23%	24.80%	98.63%	99.73%

Descriptive Statistics

Mean	0.283%
Standard Error	0.209%
Median	-0.218%
Mode	0.000%
Standard Deviation	8.172%
Sample Variance	66.776%
Kurtosis	7.39
Skewness	1.33
Range	91.388%
Minimum	-28.676%
Maximum	62.712%
Count	1535

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	6.087%	750	48.86%	2.974%
Negative	-5.310%	778	50.68%	-2.691%
Zero	0.000%	7	0.46%	0.000%

Close-to-Close Returns

Gram-Charlier Analysis: Data reveals Fairly Symmetrical with a Skewness factor of 0.21. Further, an Excess Kurtosis of 0.60 proves the distribution possesses Normal Tails (Mesokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -44.51%	0	0.00%	0.00%
-44.51% to -32.91%	4	1.13%	1.13%
-32.91% to -21.31%	16	4.53%	5.67%
-21.31% to -9.71%	54	15.30%	20.96%
-9.71% to 1.89%	111	31.44%	52.41%
1.89% to 13.49%	95	26.91%	79.32%
13.49% to 25.09%	48	13.60%	92.92%
25.09% to 36.69%	18	5.10%	98.02%
36.69% to 48.30%	5	1.42%	99.43%
Greater than 48.30%	2	0.57%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-13.58%	17.36%	71.67%	68.27%
±2σ	-29.05%	32.83%	94.05%	95.45%
±3σ	-44.51%	48.29%	99.43%	99.73%

Descriptive Statistics

Mean	1.891%
Standard Error	0.823%
Median	1.446%
Mode	-10.204%
Standard Deviation	15.468%
Sample Variance	239.271%
Kurtosis	0.60
Skewness	0.21
Range	92.788%
Minimum	-42.121%
Maximum	50.667%
Count	353

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	12.949%	188	53.26%	6.896%
Negative	-10.775%	164	46.46%	-5.006%
Zero	0.000%	1	0.28%	0.000%

Average True Range Percentage (ATRP)

Months	Horizon	Average Monthly True Range %
3	1 Quarter	29.21%
12	1 Year	28.46%
36	3 Years	26.60%
60	5 Years	26.32%
120	10 Years	26.02%
240	20 Years	22.61%
600	50 Years	23.53%

High-to-Low Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 2.03. Further, an Excess Kurtosis of 5.60 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -21.59%	0	0.00%	0.00%
-21.59% to -9.36%	0	0.00%	0.00%
-9.36% to 2.86%	0	0.00%	0.00%
2.86% to 15.08%	64	18.08%	18.08%
15.08% to 27.31%	164	46.33%	64.41%
27.31% to 39.53%	67	18.93%	83.33%
39.53% to 51.75%	30	8.47%	91.81%
51.75% to 63.98%	14	3.95%	95.76%
63.98% to 76.20%	8	2.26%	98.02%
Greater than 76.20%	7	1.98%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	11.01%	43.60%	82.20%	68.27%
±2σ	-5.29%	59.90%	95.20%	95.45%
±3σ	-21.59%	76.20%	98.02%	99.73%

Descriptive Statistics

Mean	27.306%
Standard Error	0.866%
Median	22.700%
Mode	25.797%
Standard Deviation	16.298%
Sample Variance	265.625%
Kurtosis	5.60
Skewness	2.03
Range	112.936%
Minimum	6.464%
Maximum	119.400%
Count	354

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	27.306%	354	100.00%	27.306%
Negative	0.000%	0	0.00%	0.000%
Zero	0.000%	0	0.00%	0.000%

Open-to-Close Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 1.10. Further, an Excess Kurtosis of 2.71 proves the distribution possesses Fat Tails (Higher Outlier Risk).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -48.67%	0	0.00%	0.00%
-48.67% to -36.33%	0	0.00%	0.00%
-36.33% to -23.99%	15	4.24%	4.24%
-23.99% to -11.65%	55	15.54%	19.77%
-11.65% to 0.69%	131	37.01%	56.78%
0.69% to 13.03%	92	25.99%	82.77%
13.03% to 25.36%	37	10.45%	93.22%
25.36% to 37.70%	14	3.95%	97.18%
37.70% to 50.05%	6	1.69%	98.87%
Greater than 50.05%	4	1.13%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-15.77%	17.14%	74.58%	68.27%
±2σ	-32.22%	33.59%	95.20%	95.45%
±3σ	-48.67%	50.04%	98.87%	99.73%

Descriptive Statistics

Mean	0.686%
Standard Error	0.874%
Median	-1.039%
Mode	-1.652%
Standard Deviation	16.453%
Sample Variance	270.697%
Kurtosis	2.71
Skewness	1.10
Range	106.714%
Minimum	-33.036%
Maximum	73.678%
Count	354

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	13.638%	166	46.89%	6.395%
Negative	-10.808%	187	52.83%	-5.709%
Zero	0.000%	1	0.28%	0.000%

Close-to-Close Returns

Gram-Charlier Analysis: Data reveals Fairly Symmetrical with a Skewness factor of 0.39. Further, an Excess Kurtosis of -0.23 proves the distribution possesses Normal Tails (Mesokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -83.15%	0	0.00%	0.00%
-83.15% to -60.76%	0	0.00%	0.00%
-60.76% to -38.37%	5	4.24%	4.24%
-38.37% to -15.98%	21	17.80%	22.03%
-15.98% to 6.40%	41	34.75%	56.78%
6.40% to 28.79%	25	21.19%	77.97%
28.79% to 51.18%	15	12.71%	90.68%
51.18% to 73.57%	10	8.47%	99.15%
73.57% to 95.95%	1	0.85%	100.00%
Greater than 95.95%	0	0.00%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-23.45%	36.25%	66.10%	68.27%
±2σ	-53.30%	66.10%	97.46%	95.45%
±3σ	-83.15%	95.95%	100.00%	99.73%

Descriptive Statistics

Mean	6.403%
Standard Error	2.748%
Median	3.208%
Mode	-51.520%
Standard Deviation	29.850%
Sample Variance	891.019%
Kurtosis	-0.23
Skewness	0.39
Range	144.906%
Minimum	-51.520%
Maximum	93.386%
Count	118

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	26.995%	66	55.93%	15.099%
Negative	-19.734%	52	44.07%	-8.696%
Zero	0.000%	0	0.00%	0.000%

Average True Range Percentage (ATRP)

Quarters	Horizon	Average Quarterly True Range %
4	1 Year	51.45%
12	3 Years	53.89%
20	5 Years	49.85%
40	10 Years	50.85%
80	20 Years	42.84%
200	50 Years	43.45%

High-to-Low Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 1.16. Further, an Excess Kurtosis of 1.05 proves the distribution possesses Fat Tails (Higher Outlier Risk).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -31.49%	0	0.00%	0.00%
-31.49% to -9.77%	0	0.00%	0.00%
-9.77% to 11.95%	0	0.00%	0.00%
11.95% to 33.67%	29	24.37%	24.37%
33.67% to 55.39%	40	33.61%	57.98%
55.39% to 77.11%	27	22.69%	80.67%
77.11% to 98.83%	11	9.24%	89.92%
98.83% to 120.55%	7	5.88%	95.80%
120.55% to 142.27%	4	3.36%	99.16%
Greater than 142.27%	1	0.84%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	26.43%	84.35%	74.79%	68.27%
±2σ	-2.53%	113.31%	94.96%	95.45%
±3σ	-31.49%	142.27%	99.16%	99.73%

Descriptive Statistics

Mean	55.390%
Standard Error	2.655%
Median	47.855%
Mode	16.647%
Standard Deviation	28.960%
Sample Variance	838.691%
Kurtosis	1.05
Skewness	1.16
Range	126.831%
Minimum	16.647%
Maximum	143.478%
Count	119

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	55.390%	119	100.00%	55.390%
Negative	0.000%	0	0.00%	0.000%
Zero	0.000%	0	0.00%	0.000%

Open-to-Close Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 1.07. Further, an Excess Kurtosis of 1.29 proves the distribution possesses Fat Tails (Higher Outlier Risk).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -90.68%	0	0.00%	0.00%
-90.68% to -67.39%	0	0.00%	0.00%
-67.39% to -44.09%	1	0.84%	0.84%
-44.09% to -20.80%	27	22.69%	23.53%
-20.80% to 2.50%	43	36.13%	59.66%
2.50% to 25.79%	27	22.69%	82.35%
25.79% to 49.09%	9	7.56%	89.92%
49.09% to 72.38%	8	6.72%	96.64%
72.38% to 95.67%	3	2.52%	99.16%
Greater than 95.67%	1	0.84%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-28.56%	33.55%	73.95%	68.27%
±2σ	-59.62%	64.61%	95.80%	95.45%
±3σ	-90.68%	95.67%	99.16%	99.73%

Descriptive Statistics

Mean	2.496%
Standard Error	2.847%
Median	-2.375%
Mode	0.000%
Standard Deviation	31.059%
Sample Variance	964.639%
Kurtosis	1.29
Skewness	1.07
Range	153.682%
Minimum	-46.987%
Maximum	106.695%
Count	119

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	29.352%	52	43.70%	12.826%
Negative	-18.912%	65	54.62%	-10.330%
Zero	0.000%	2	1.68%	0.000%

ANF Deep Analytical Report