SLM - 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	2.52%	2.93%	2.26%	3.07%	8.03%	7.92%	20.86	24.49	19.25	26.54
Weekly	5.45%	7.64%	5.72%	7.18%	17.67%	17.44%	18.94	26.97	15.87	32.18
Monthly	10.16%	16.11%	11.93%	15.35%	36.78%	36.31%	15.64	32.65	10.83	47.16
Quarterly	17.62%	38.90%	20.14%	26.18%	63.71%	62.89%	11.95	42.74	6.32	80.82
Annual	—	—	—	—	127.42%	125.78%	6.32	80.82	1.77	288.99
Option Time Horizon	—	—	—	—	49.01%	48.38%	13.84	36.89	8.48	60.23

Calculation Notes: Computed at 2026-02-22T13:02 UTC | Reference Contract: Call option expiring 2026-04-17 (54 days) | Spot Price (S): $22.60 | Strike (K): $23.00 (first OTM call ≥ spot) | Observed Mid-Price: $4.2000 (Bid $3.6000 / Ask $4.8000) | Risk-Free Rate (r): 3.72% (1-Month CMT, US Treasury) | Dividend Yield (q): 2.22% | Binomial IV (Annual): 127.42% (CRR binomial tree, American, n=20 steps) | BS IV: 126.76% (European Black-Scholes) | Yahoo IV (Annual): 125.78% → 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
2025-12-04	$0.1300
2025-09-04	$0.1300
2025-06-05	$0.1300
2025-03-05	$0.1300
2024-12-05	$0.1300
2024-09-05	$0.1100
2024-06-06	$0.1100
2024-03-01	$0.1100
2023-12-01	$0.1100
2023-08-31	$0.1100
2023-06-01	$0.1100
2023-03-02	$0.1100
2022-12-01	$0.1100
2022-09-01	$0.1100
2022-06-02	$0.1100
2022-03-03	$0.1100
2021-12-02	$0.1100
2021-09-02	$0.0300
2021-06-03	$0.0300
2021-03-04	$0.0300
2020-12-03	$0.0300
2020-09-03	$0.0300
2020-06-04	$0.0300
2020-03-05	$0.0300
2019-12-05	$0.0300
2019-09-05	$0.0300
2019-06-06	$0.0300
2019-03-04	$0.0300
2014-03-05	$0.0536
2013-12-04	$0.0536
2013-09-04	$0.0536
2013-06-05	$0.0536
2013-02-27	$0.0536
2012-12-05	$0.0447
2012-09-05	$0.0447
2012-05-30	$0.0447
2012-02-29	$0.0447
2011-11-30	$0.0357
2011-08-31	$0.0357
2011-06-01	$0.0357
2007-02-28	$0.0893
2006-11-29	$0.0893
2006-08-30	$0.0893
2006-05-31	$0.0893
2006-03-01	$0.0786
2005-11-30	$0.0786
2005-08-31	$0.0786
2005-06-01	$0.0786
2005-03-02	$0.0679
2004-12-01	$0.0679
2004-09-01	$0.0679
2004-06-02	$0.0679
2004-03-03	$0.0608
2003-12-03	$0.0608
2003-09-03	$0.0608
2003-06-04	$0.0608
2003-03-05	$0.0298
2002-12-04	$0.0298
2002-09-04	$0.0238
2002-06-05	$0.0238
2002-02-27	$0.0238
2001-12-05	$0.0238
2001-05-30	$0.0208
2001-02-28	$0.0208
2000-11-29	$0.0208
2000-08-30	$0.0191
2000-05-31	$0.0191
2000-03-01	$0.0191
1999-12-01	$0.0191
1999-09-01	$0.0179
1999-06-02	$0.0179
1999-02-24	$0.0179
1998-12-02	$0.0179
1998-09-02	$0.0167
1998-06-03	$0.0167
1998-02-25	$0.0167
1997-12-03	$0.0167
1997-09-03	$0.0150
1997-06-04	$0.0150
1997-02-24	$0.0150
1996-12-03	$0.0150
1996-09-03	$0.0136
1996-06-04	$0.0136
1996-02-22	$0.0136
1995-12-04	$0.0136
1995-08-31	$0.0126
1995-06-02	$0.0126
1995-02-16	$0.0126
1994-11-30	$0.0126
1994-08-29	$0.0119
1994-06-02	$0.0119
1994-02-17	$0.0119
1993-12-01	$0.0119
1993-08-27	$0.0102
1993-06-02	$0.0102
1993-02-22	$0.0102
1992-12-01	$0.0102
1992-08-28	$0.0085
1992-05-29	$0.0085
1992-02-20	$0.0085
1991-12-02	$0.0085
1991-08-27	$0.0068
1991-05-29	$0.0068
1991-02-20	$0.0068
1990-12-03	$0.0068
1990-08-28	$0.0044
1990-05-30	$0.0044
1990-02-21	$0.0044
1989-12-01	$0.0044
1989-08-28	$0.0034
1989-05-24	$0.0034
1989-02-22	$0.0027
1988-12-01	$0.0027
1988-08-26	$0.0018
1988-05-31	$0.0018
1988-02-23	$0.0018
1987-12-01	$0.0018
1987-08-25	$0.0012
1987-06-01	$0.0012
1987-02-24	$0.0012

Close-to-Close Returns

Gram-Charlier Analysis: Data reveals Fairly Symmetrical with a Skewness factor of 0.26. Further, an Excess Kurtosis of 24.07 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -7.50%	86	0.81%	0.81%
-7.50% to -5.60%	68	0.64%	1.44%
-5.60% to -3.71%	237	2.22%	3.66%
-3.71% to -1.82%	1012	9.47%	13.13%
-1.82% to 0.08%	4118	38.55%	51.68%
0.08% to 1.97%	3693	34.57%	86.25%
1.97% to 3.87%	1073	10.04%	96.29%
3.87% to 5.76%	237	2.22%	98.51%
5.76% to 7.65%	74	0.69%	99.20%
Greater than 7.65%	85	0.80%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-2.45%	2.60%	83.22%	68.27%
±2σ	-4.97%	5.13%	96.20%	95.45%
±3σ	-7.50%	7.65%	98.40%	99.73%

Descriptive Statistics

Mean	0.078%
Standard Error	0.024%
Median	0.000%
Mode	0.000%
Standard Deviation	2.525%
Sample Variance	6.377%
Kurtosis	24.07
Skewness	0.26
Range	67.311%
Minimum	-32.334%
Maximum	34.977%
Count	10683

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	1.669%	5238	49.03%	0.818%
Negative	-1.563%	5058	47.35%	-0.740%
Zero	0.000%	387	3.62%	0.000%

Average True Range Percentage (ATRP)

Trading Days	Horizon	Average Daily True Range %
5	1 Week	3.36%
20	1 Month	3.76%
60	1 Quarter	3.25%
250	1 Year	3.26%
750	3 Years	2.92%
1,250	5 Years	3.07%
2,500	10 Years	3.13%
5,000	20 Years	3.58%
12,500	50 Years	2.90%

High-to-Low Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 9.48. Further, an Excess Kurtosis of 197.70 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -5.96%	0	0.00%	0.00%
-5.96% to -3.77%	0	0.00%	0.00%
-3.77% to -1.57%	0	0.00%	0.00%
-1.57% to 0.62%	234	2.19%	2.19%
0.62% to 2.81%	7006	65.57%	67.76%
2.81% to 5.01%	2415	22.60%	90.37%
5.01% to 7.20%	558	5.22%	95.59%
7.20% to 9.40%	205	1.92%	97.51%
9.40% to 11.59%	103	0.96%	98.47%
Greater than 11.59%	163	1.53%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-0.11%	5.74%	93.06%	68.27%
±2σ	-3.04%	8.67%	97.07%	95.45%
±3σ	-5.96%	11.59%	98.47%	99.73%

Descriptive Statistics

Mean	2.814%
Standard Error	0.028%
Median	2.148%
Mode	2.128%
Standard Deviation	2.926%
Sample Variance	8.561%
Kurtosis	197.70
Skewness	9.48
Range	96.761%
Minimum	0.136%
Maximum	96.897%
Count	10684

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	2.814%	10684	100.00%	2.814%
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 2.71. Further, an Excess Kurtosis of 49.14 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -6.78%	55	0.51%	0.51%
-6.78% to -5.08%	74	0.69%	1.21%
-5.08% to -3.38%	268	2.51%	3.72%
-3.38% to -1.68%	1136	10.63%	14.35%
-1.68% to 0.02%	4045	37.86%	52.21%
0.02% to 1.71%	3738	34.99%	87.20%
1.71% to 3.41%	946	8.85%	96.05%
3.41% to 5.11%	266	2.49%	98.54%
5.11% to 6.81%	65	0.61%	99.15%
Greater than 6.81%	91	0.85%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-2.25%	2.28%	82.48%	68.27%
±2σ	-4.51%	4.54%	96.15%	95.45%
±3σ	-6.78%	6.81%	98.63%	99.73%

Descriptive Statistics

Mean	0.016%
Standard Error	0.022%
Median	0.000%
Mode	0.000%
Standard Deviation	2.264%
Sample Variance	5.126%
Kurtosis	49.14
Skewness	2.71
Range	74.396%
Minimum	-24.741%
Maximum	49.655%
Count	10684

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	1.487%	5107	47.80%	0.711%
Negative	-1.450%	5117	47.89%	-0.694%
Zero	0.000%	460	4.31%	0.000%

Close-to-Close Returns

Gram-Charlier Analysis: Data reveals Fairly Symmetrical with a Skewness factor of 0.07. Further, an Excess Kurtosis of 8.97 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -15.97%	16	0.72%	0.72%
-15.97% to -11.88%	16	0.72%	1.45%
-11.88% to -7.80%	64	2.89%	4.34%
-7.80% to -3.71%	223	10.08%	14.41%
-3.71% to 0.37%	848	38.32%	52.73%
0.37% to 4.46%	707	31.95%	84.68%
4.46% to 8.54%	233	10.53%	95.21%
8.54% to 12.62%	56	2.53%	97.74%
12.62% to 16.71%	26	1.17%	98.92%
Greater than 16.71%	24	1.08%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-5.07%	5.82%	80.66%	68.27%
±2σ	-10.52%	11.26%	95.35%	95.45%
±3σ	-15.97%	16.71%	98.19%	99.73%

Descriptive Statistics

Mean	0.372%
Standard Error	0.116%
Median	0.166%
Mode	0.000%
Standard Deviation	5.446%
Sample Variance	29.656%
Kurtosis	8.97
Skewness	0.07
Range	81.159%
Minimum	-48.276%
Maximum	32.883%
Count	2213

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	3.866%	1137	51.38%	1.986%
Negative	-3.429%	1042	47.09%	-1.615%
Zero	0.000%	34	1.54%	0.000%

Average True Range Percentage (ATRP)

Weeks	Horizon	Average Weekly True Range %
4	1 Month	8.64%
12	1 Quarter	8.16%
52	1 Year	7.47%
156	3 Years	7.08%
260	5 Years	7.18%
520	10 Years	7.24%
1,040	20 Years	8.30%
2,600	50 Years	6.98%

High-to-Low Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 8.12. Further, an Excess Kurtosis of 119.52 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -15.55%	0	0.00%	0.00%
-15.55% to -9.81%	0	0.00%	0.00%
-9.81% to -4.08%	0	0.00%	0.00%
-4.08% to 1.66%	28	1.26%	1.26%
1.66% to 7.39%	1486	67.12%	68.38%
7.39% to 13.12%	489	22.09%	90.47%
13.12% to 18.86%	113	5.10%	95.57%
18.86% to 24.59%	43	1.94%	97.52%
24.59% to 30.32%	17	0.77%	98.28%
Greater than 30.32%	38	1.72%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-0.26%	15.03%	92.86%	68.27%
±2σ	-7.90%	22.68%	97.20%	95.45%
±3σ	-15.55%	30.32%	98.28%	99.73%

Descriptive Statistics

Mean	7.389%
Standard Error	0.162%
Median	5.540%
Mode	4.762%
Standard Deviation	7.645%
Sample Variance	58.447%
Kurtosis	119.52
Skewness	8.12
Range	155.327%
Minimum	0.520%
Maximum	155.847%
Count	2214

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	7.389%	2214	100.00%	7.389%
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 3.08. Further, an Excess Kurtosis of 41.70 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -17.17%	12	0.54%	0.54%
-17.17% to -12.88%	16	0.72%	1.26%
-12.88% to -8.59%	51	2.30%	3.57%
-8.59% to -4.30%	239	10.79%	14.36%
-4.30% to -0.01%	811	36.63%	50.99%
-0.01% to 4.28%	796	35.95%	86.95%
4.28% to 8.57%	196	8.85%	95.80%
8.57% to 12.86%	56	2.53%	98.33%
12.86% to 17.15%	17	0.77%	99.10%
Greater than 17.15%	20	0.90%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-5.73%	5.71%	82.11%	68.27%
±2σ	-11.45%	11.43%	95.80%	95.45%
±3σ	-17.17%	17.15%	98.55%	99.73%

Descriptive Statistics

Mean	-0.010%
Standard Error	0.122%
Median	-0.142%
Mode	0.000%
Standard Deviation	5.721%
Sample Variance	32.736%
Kurtosis	41.70
Skewness	3.08
Range	120.599%
Minimum	-25.932%
Maximum	94.667%
Count	2214

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	3.745%	1046	47.24%	1.769%
Negative	-3.488%	1129	50.99%	-1.779%
Zero	0.000%	39	1.76%	0.000%

Close-to-Close Returns

Gram-Charlier Analysis: Data reveals Fairly Symmetrical with a Skewness factor of -0.09. Further, an Excess Kurtosis of 5.52 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -28.99%	4	0.79%	0.79%
-28.99% to -21.38%	3	0.59%	1.38%
-21.38% to -13.76%	14	2.75%	4.13%
-13.76% to -6.14%	66	12.97%	17.09%
-6.14% to 1.48%	185	36.35%	53.44%
1.48% to 9.10%	144	28.29%	81.73%
9.10% to 16.72%	66	12.97%	94.70%
16.72% to 24.34%	20	3.93%	98.62%
24.34% to 31.96%	4	0.79%	99.41%
Greater than 31.96%	3	0.59%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-8.68%	11.64%	76.62%	68.27%
±2σ	-18.84%	21.80%	94.89%	95.45%
±3σ	-28.99%	31.96%	98.62%	99.73%

Descriptive Statistics

Mean	1.483%
Standard Error	0.450%
Median	1.066%
Mode	-10.076%
Standard Deviation	10.159%
Sample Variance	103.207%
Kurtosis	5.52
Skewness	-0.09
Range	115.196%
Minimum	-59.825%
Maximum	55.371%
Count	509

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	7.858%	283	55.60%	4.369%
Negative	-6.557%	224	44.01%	-2.886%
Zero	0.000%	2	0.39%	0.000%

Average True Range Percentage (ATRP)

Months	Horizon	Average Monthly True Range %
3	1 Quarter	18.72%
12	1 Year	15.91%
36	3 Years	15.83%
60	5 Years	15.35%
120	10 Years	15.83%
240	20 Years	16.87%
600	50 Years	14.75%

High-to-Low Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 5.69. Further, an Excess Kurtosis of 45.14 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -31.47%	0	0.00%	0.00%
-31.47% to -19.39%	0	0.00%	0.00%
-19.39% to -7.31%	0	0.00%	0.00%
-7.31% to 4.77%	4	0.78%	0.78%
4.77% to 16.86%	341	66.86%	67.65%
16.86% to 28.94%	117	22.94%	90.59%
28.94% to 41.02%	26	5.10%	95.69%
41.02% to 53.10%	11	2.16%	97.84%
53.10% to 65.19%	3	0.59%	98.43%
Greater than 65.19%	8	1.57%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	0.75%	32.97%	93.14%	68.27%
±2σ	-15.36%	49.08%	97.84%	95.45%
±3σ	-31.47%	65.19%	98.43%	99.73%

Descriptive Statistics

Mean	16.857%
Standard Error	0.713%
Median	12.946%
Mode	8.571%
Standard Deviation	16.110%
Sample Variance	259.536%
Kurtosis	45.14
Skewness	5.69
Range	183.334%
Minimum	3.778%
Maximum	187.112%
Count	510

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	16.857%	510	100.00%	16.857%
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 4.39. Further, an Excess Kurtosis of 45.47 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -35.96%	0	0.00%	0.00%
-35.96% to -27.01%	2	0.39%	0.39%
-27.01% to -18.07%	10	1.96%	2.35%
-18.07% to -9.12%	66	12.94%	15.29%
-9.12% to -0.18%	192	37.65%	52.94%
-0.18% to 8.76%	180	35.29%	88.24%
8.76% to 17.71%	44	8.63%	96.86%
17.71% to 26.65%	9	1.76%	98.63%
26.65% to 35.60%	2	0.39%	99.02%
Greater than 35.60%	5	0.98%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-12.11%	11.75%	84.12%	68.27%
±2σ	-24.03%	23.67%	97.25%	95.45%
±3σ	-35.96%	35.60%	99.02%	99.73%

Descriptive Statistics

Mean	-0.181%
Standard Error	0.528%
Median	-0.681%
Mode	0.000%
Standard Deviation	11.926%
Sample Variance	142.234%
Kurtosis	45.47
Skewness	4.39
Range	176.718%
Minimum	-34.761%
Maximum	141.957%
Count	510

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	7.674%	234	45.88%	3.521%
Negative	-6.917%	273	53.53%	-3.703%
Zero	0.000%	3	0.59%	0.000%

Close-to-Close Returns

Gram-Charlier Analysis: Data reveals Right Skewed (Positive Asymmetry) with a Skewness factor of 0.57. Further, an Excess Kurtosis of 4.32 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -48.51%	2	1.18%	1.18%
-48.51% to -35.30%	2	1.18%	2.35%
-35.30% to -22.09%	2	1.18%	3.53%
-22.09% to -8.88%	21	12.35%	15.88%
-8.88% to 4.34%	58	34.12%	50.00%
4.34% to 17.55%	59	34.71%	84.71%
17.55% to 30.76%	16	9.41%	94.12%
30.76% to 43.97%	6	3.53%	97.65%
43.97% to 57.18%	2	1.18%	98.82%
Greater than 57.18%	2	1.18%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-13.28%	21.95%	80.00%	68.27%
±2σ	-30.90%	39.57%	94.71%	95.45%
±3σ	-48.51%	57.18%	97.65%	99.73%

Descriptive Statistics

Mean	4.336%
Standard Error	1.351%
Median	4.732%
Mode	-57.817%
Standard Deviation	17.616%
Sample Variance	310.329%
Kurtosis	4.32
Skewness	0.57
Range	141.875%
Minimum	-57.817%
Maximum	84.058%
Count	170

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	14.138%	102	60.00%	8.483%
Negative	-10.368%	68	40.00%	-4.147%
Zero	0.000%	0	0.00%	0.000%

Average True Range Percentage (ATRP)

Quarters	Horizon	Average Quarterly True Range %
4	1 Year	23.02%
12	3 Years	28.19%
20	5 Years	26.18%
40	10 Years	28.03%
80	20 Years	29.57%
200	50 Years	25.66%

High-to-Low Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 5.58. Further, an Excess Kurtosis of 37.51 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -83.62%	0	0.00%	0.00%
-83.62% to -54.44%	0	0.00%	0.00%
-54.44% to -25.27%	0	0.00%	0.00%
-25.27% to 3.90%	0	0.00%	0.00%
3.90% to 33.07%	125	73.10%	73.10%
33.07% to 62.24%	34	19.88%	92.98%
62.24% to 91.42%	5	2.92%	95.91%
91.42% to 120.59%	3	1.75%	97.66%
120.59% to 149.76%	1	0.58%	98.25%
Greater than 149.76%	3	1.75%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-5.82%	71.97%	94.74%	68.27%
±2σ	-44.72%	110.86%	96.49%	95.45%
±3σ	-83.62%	149.76%	98.25%	99.73%

Descriptive Statistics

Mean	33.072%
Standard Error	2.974%
Median	23.493%
Mode	19.194%
Standard Deviation	38.896%
Sample Variance	1512.887%
Kurtosis	37.51
Skewness	5.58
Range	342.323%
Minimum	9.228%
Maximum	351.551%
Count	171

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	33.072%	171	100.00%	33.072%
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 3.08. Further, an Excess Kurtosis of 17.10 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -61.17%	0	0.00%	0.00%
-61.17% to -46.07%	0	0.00%	0.00%
-46.07% to -30.97%	4	2.34%	2.34%
-30.97% to -15.87%	20	11.70%	14.04%
-15.87% to -0.77%	73	42.69%	56.73%
-0.77% to 14.34%	56	32.75%	89.47%
14.34% to 29.44%	12	7.02%	96.49%
29.44% to 44.54%	2	1.17%	97.66%
44.54% to 59.64%	0	0.00%	97.66%
Greater than 59.64%	4	2.34%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-20.90%	19.37%	85.38%	68.27%
±2σ	-41.04%	39.51%	97.08%	95.45%
±3σ	-61.17%	59.64%	97.66%	99.73%

Descriptive Statistics

Mean	-0.766%
Standard Error	1.540%
Median	-4.545%
Mode	8.560%
Standard Deviation	20.136%
Sample Variance	405.453%
Kurtosis	17.10
Skewness	3.08
Range	174.867%
Minimum	-44.432%
Maximum	130.435%
Count	171

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	13.857%	73	42.69%	5.916%
Negative	-11.659%	98	57.31%	-6.682%
Zero	0.000%	0	0.00%	0.000%

SLM Deep Analytical Report