SO - 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	1.26%	1.06%	1.16%	1.74%	1.29%	1.44%	93.09	95.52	91.90	96.76
Weekly	2.65%	2.47%	2.61%	3.89%	2.84%	3.17%	91.66	97.01	89.10	99.81
Monthly	4.86%	4.83%	4.85%	8.37%	5.91%	6.59%	88.89	100.04	83.79	106.12
Quarterly	7.36%	7.60%	7.11%	14.07%	10.23%	11.42%	85.13	104.46	76.85	115.71
Annual	—	—	—	—	20.46%	22.84%	76.85	115.71	62.63	141.98
Option Time Horizon	—	—	—	—	6.69%	7.47%	88.20	100.82	82.49	107.80

Calculation Notes: Computed at 2026-02-22T14:18 UTC | Reference Contract: Call option expiring 2026-04-02 (39 days) | Spot Price (S): $94.30 | Strike (K): $96.00 (first OTM call ≥ spot) | Observed Mid-Price: $1.8250 (Bid $1.5500 / Ask $2.1000) | Risk-Free Rate (r): 3.72% (1-Month CMT, US Treasury) | Dividend Yield (q): 3.09% | Binomial IV (Annual): 20.46% (CRR binomial tree, American, n=20 steps) | BS IV: 20.69% (European Black-Scholes) | Yahoo IV (Annual): 22.84% → 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
2026-02-17	$0.7400
2025-11-17	$0.7400
2025-08-18	$0.7400
2025-05-19	$0.7400
2025-02-18	$0.7200
2024-11-18	$0.7200
2024-08-19	$0.7200
2024-05-17	$0.7200
2024-02-16	$0.7000
2023-11-17	$0.7000
2023-08-18	$0.7000
2023-05-12	$0.7000
2023-02-17	$0.6800
2022-11-18	$0.6800
2022-08-12	$0.6800
2022-05-13	$0.6800
2022-02-18	$0.6600
2021-11-12	$0.6600
2021-08-13	$0.6600
2021-05-14	$0.6600
2021-02-12	$0.6400
2020-11-13	$0.6400
2020-08-14	$0.6400
2020-05-15	$0.6400
2020-02-14	$0.6200
2019-11-15	$0.6200
2019-08-16	$0.6200
2019-05-17	$0.6200
2019-02-15	$0.6000
2018-11-16	$0.6000
2018-08-17	$0.6000
2018-05-18	$0.6000
2018-02-16	$0.5800
2017-11-17	$0.5800
2017-08-17	$0.5800
2017-05-11	$0.5800
2017-02-16	$0.5600
2016-11-17	$0.5600
2016-08-11	$0.5600
2016-05-12	$0.5600
2016-02-11	$0.5430
2015-11-12	$0.5430
2015-08-13	$0.5430
2015-05-14	$0.5430
2015-02-12	$0.5250
2014-10-30	$0.5250
2014-07-31	$0.5250
2014-05-01	$0.5250
2014-01-30	$0.5070
2013-10-31	$0.5070
2013-08-01	$0.5070
2013-05-02	$0.5070
2013-01-31	$0.4900
2012-11-01	$0.4900
2012-08-02	$0.4900
2012-05-03	$0.4900
2012-02-02	$0.4730
2011-11-03	$0.4730
2011-07-28	$0.4730
2011-04-28	$0.4730
2011-02-03	$0.4550
2010-10-28	$0.4550
2010-07-29	$0.4550
2010-04-29	$0.4550
2010-01-28	$0.4380
2009-10-29	$0.4380
2009-07-30	$0.4380
2009-04-30	$0.4380
2009-01-29	$0.4200
2008-10-30	$0.4200
2008-07-31	$0.4200
2008-05-01	$0.4200
2008-01-31	$0.4030
2007-11-01	$0.4030
2007-08-02	$0.4030
2007-05-03	$0.4030
2007-02-01	$0.3880
2006-11-02	$0.3880
2006-08-03	$0.3880
2006-04-27	$0.3880
2006-02-02	$0.3730
2005-11-03	$0.3730
2005-07-28	$0.3730
2005-04-28	$0.3730
2005-02-03	$0.3580
2004-10-28	$0.3580
2004-07-29	$0.3580
2004-04-29	$0.3500
2004-01-29	$0.3500
2003-10-30	$0.3500
2003-07-31	$0.3500
2003-05-01	$0.3420
2003-01-30	$0.3430
2002-10-31	$0.3430
2002-08-01	$0.3430
2002-05-02	$0.3350
2002-01-31	$0.3350
2001-11-01	$0.3350
2001-08-02	$0.3350
2001-05-03	$0.3350
2001-02-01	$0.2047
2000-11-02	$0.2047
2000-08-03	$0.2047
2000-04-27	$0.2047
2000-02-03	$0.2047
1999-10-28	$0.2047
1999-07-29	$0.2047
1999-04-29	$0.2047
1999-01-28	$0.2047
1998-10-29	$0.2047
1998-07-30	$0.2047
1998-04-30	$0.2047
1998-01-29	$0.2047
1997-10-30	$0.1985
1997-07-31	$0.1985
1997-05-01	$0.1985
1997-01-30	$0.1985
1996-10-31	$0.1924
1996-08-01	$0.1924
1996-05-02	$0.1924
1996-02-01	$0.1924
1995-11-02	$0.1863
1995-08-03	$0.1863
1995-04-25	$0.1863
1995-01-31	$0.1863
1994-11-01	$0.1802
1994-07-26	$0.1802
1994-04-26	$0.1802
1994-02-01	$0.1802
1993-10-26	$0.1741
1993-07-27	$0.1741
1993-04-27	$0.1741
1993-01-26	$0.1741
1992-10-27	$0.1680
1992-07-28	$0.1680
1992-04-28	$0.1680
1992-01-28	$0.1680
1991-10-29	$0.1634
1991-07-30	$0.1634
1991-04-30	$0.1634
1991-01-29	$0.1634
1990-10-30	$0.1634
1990-07-31	$0.1634
1990-05-01	$0.1634
1990-01-30	$0.1634
1989-10-31	$0.1634
1989-08-01	$0.1634
1989-04-25	$0.1634
1989-01-31	$0.1634
1988-11-01	$0.1634
1988-07-26	$0.1634
1988-04-26	$0.1634
1988-01-26	$0.1634
1987-10-27	$0.1634
1987-07-28	$0.1634
1987-04-28	$0.1634
1987-01-27	$0.1634
1986-10-28	$0.1634
1986-07-29	$0.1558
1986-04-29	$0.1558
1986-01-28	$0.1558
1985-10-29	$0.1558
1985-07-30	$0.1466
1985-04-30	$0.1466
1985-01-29	$0.1466
1984-10-30	$0.1466
1984-07-31	$0.1375
1984-05-01	$0.1375
1984-01-31	$0.1375
1983-11-01	$0.1375
1983-07-26	$0.1298
1983-04-26	$0.1298
1983-02-01	$0.1298
1982-10-26	$0.1298
1982-07-27	$0.1298
1982-04-27	$0.1237
1982-01-26	$0.1237

Close-to-Close Returns

Gram-Charlier Analysis: Data reveals Fairly Symmetrical with a Skewness factor of 0.25. Further, an Excess Kurtosis of 16.37 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -3.73%	73	0.66%	0.66%
-3.73% to -2.78%	102	0.92%	1.57%
-2.78% to -1.83%	343	3.08%	4.66%
-1.83% to -0.89%	1402	12.60%	17.26%
-0.89% to 0.06%	4054	36.45%	53.71%
0.06% to 1.01%	3235	29.08%	82.79%
1.01% to 1.95%	1384	12.44%	95.24%
1.95% to 2.90%	368	3.31%	98.54%
2.90% to 3.85%	99	0.89%	99.43%
Greater than 3.85%	63	0.57%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-1.20%	1.32%	77.72%	68.27%
±2σ	-2.46%	2.58%	95.77%	95.45%
±3σ	-3.73%	3.85%	98.78%	99.73%

Descriptive Statistics

Mean	0.061%
Standard Error	0.012%
Median	0.000%
Mode	0.000%
Standard Deviation	1.262%
Sample Variance	1.593%
Kurtosis	16.37
Skewness	0.25
Range	36.956%
Minimum	-18.182%
Maximum	18.774%
Count	11123

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	0.979%	5297	47.62%	0.466%
Negative	-0.948%	4761	42.80%	-0.406%
Zero	0.000%	1065	9.57%	0.000%

Average True Range Percentage (ATRP)

Trading Days	Horizon	Average Daily True Range %
5	1 Week	3.16%
20	1 Month	2.13%
60	1 Quarter	1.73%
250	1 Year	1.65%
750	3 Years	1.68%
1,250	5 Years	1.74%
2,500	10 Years	1.75%
5,000	20 Years	1.64%
12,500	50 Years	1.77%

High-to-Low Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 3.97. Further, an Excess Kurtosis of 36.42 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -1.47%	0	0.00%	0.00%
-1.47% to -0.67%	0	0.00%	0.00%
-0.67% to 0.13%	0	0.00%	0.00%
0.13% to 0.92%	1717	15.44%	15.44%
0.92% to 1.72%	5297	47.62%	63.05%
1.72% to 2.52%	2504	22.51%	85.56%
2.52% to 3.31%	964	8.67%	94.23%
3.31% to 4.11%	302	2.71%	96.94%
4.11% to 4.91%	162	1.46%	98.40%
Greater than 4.91%	178	1.60%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	0.66%	2.78%	85.73%	68.27%
±2σ	-0.41%	3.84%	96.25%	95.45%
±3σ	-1.47%	4.91%	98.40%	99.73%

Descriptive Statistics

Mean	1.719%
Standard Error	0.010%
Median	1.486%
Mode	1.613%
Standard Deviation	1.062%
Sample Variance	1.128%
Kurtosis	36.42
Skewness	3.97
Range	21.397%
Minimum	0.281%
Maximum	21.678%
Count	11124

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	1.719%	11124	100.00%	1.719%
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 0.45. Further, an Excess Kurtosis of 15.87 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -3.51%	66	0.59%	0.59%
-3.51% to -2.64%	117	1.05%	1.65%
-2.64% to -1.77%	350	3.15%	4.79%
-1.77% to -0.91%	1433	12.88%	17.67%
-0.91% to -0.04%	3196	28.73%	46.40%
-0.04% to 0.83%	4004	35.99%	82.40%
0.83% to 1.70%	1414	12.71%	95.11%
1.70% to 2.56%	362	3.25%	98.36%
2.56% to 3.43%	117	1.05%	99.42%
Greater than 3.43%	65	0.58%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-1.20%	1.12%	77.10%	68.27%
±2σ	-2.35%	2.27%	95.38%	95.45%
±3σ	-3.51%	3.43%	98.82%	99.73%

Descriptive Statistics

Mean	-0.039%
Standard Error	0.011%
Median	0.000%
Mode	0.000%
Standard Deviation	1.157%
Sample Variance	1.340%
Kurtosis	15.87
Skewness	0.45
Range	34.182%
Minimum	-13.349%
Maximum	20.833%
Count	11124

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	0.901%	4753	42.73%	0.385%
Negative	-0.899%	5243	47.13%	-0.424%
Zero	0.000%	1128	10.14%	0.000%

Close-to-Close Returns

Gram-Charlier Analysis: Data reveals Right Skewed (Positive Asymmetry) with a Skewness factor of 0.52. Further, an Excess Kurtosis of 18.28 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -7.67%	12	0.52%	0.52%
-7.67% to -5.68%	25	1.09%	1.61%
-5.68% to -3.69%	74	3.21%	4.82%
-3.69% to -1.70%	275	11.94%	16.76%
-1.70% to 0.29%	759	32.96%	49.72%
0.29% to 2.28%	766	33.26%	82.98%
2.28% to 4.27%	284	12.33%	95.31%
4.27% to 6.26%	75	3.26%	98.57%
6.26% to 8.25%	22	0.96%	99.52%
Greater than 8.25%	11	0.48%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-2.37%	2.94%	77.81%	68.27%
±2σ	-5.02%	5.60%	95.66%	95.45%
±3σ	-7.67%	8.25%	99.00%	99.73%

Descriptive Statistics

Mean	0.288%
Standard Error	0.055%
Median	0.302%
Mode	0.000%
Standard Deviation	2.654%
Sample Variance	7.044%
Kurtosis	18.28
Skewness	0.52
Range	57.534%
Minimum	-23.391%
Maximum	34.143%
Count	2303

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	1.958%	1256	54.54%	1.068%
Negative	-1.878%	956	41.51%	-0.780%
Zero	0.000%	91	3.95%	0.000%

Average True Range Percentage (ATRP)

Weeks	Horizon	Average Weekly True Range %
4	1 Month	4.79%
12	1 Quarter	3.82%
52	1 Year	3.63%
156	3 Years	3.74%
260	5 Years	3.89%
520	10 Years	3.93%
1,040	20 Years	3.60%
2,600	50 Years	3.89%

High-to-Low Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 4.41. Further, an Excess Kurtosis of 38.54 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -3.45%	0	0.00%	0.00%
-3.45% to -1.60%	0	0.00%	0.00%
-1.60% to 0.25%	0	0.00%	0.00%
0.25% to 2.10%	320	13.89%	13.89%
2.10% to 3.95%	1134	49.22%	63.11%
3.95% to 5.80%	535	23.22%	86.33%
5.80% to 7.65%	182	7.90%	94.23%
7.65% to 9.50%	73	3.17%	97.40%
9.50% to 11.35%	25	1.09%	98.48%
Greater than 11.35%	35	1.52%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	1.48%	6.42%	87.15%	68.27%
±2σ	-0.98%	8.89%	96.66%	95.45%
±3σ	-3.45%	11.35%	98.48%	99.73%

Descriptive Statistics

Mean	3.952%
Standard Error	0.051%
Median	3.383%
Mode	2.273%
Standard Deviation	2.467%
Sample Variance	6.085%
Kurtosis	38.54
Skewness	4.41
Range	34.174%
Minimum	0.669%
Maximum	34.843%
Count	2304

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	3.952%	2304	100.00%	3.952%
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 1.41. Further, an Excess Kurtosis of 19.31 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -7.96%	7	0.30%	0.30%
-7.96% to -6.00%	18	0.78%	1.09%
-6.00% to -4.05%	72	3.12%	4.21%
-4.05% to -2.09%	304	13.19%	17.40%
-2.09% to -0.14%	778	33.77%	51.17%
-0.14% to 1.81%	755	32.77%	83.94%
1.81% to 3.77%	254	11.02%	94.97%
3.77% to 5.72%	78	3.39%	98.35%
5.72% to 7.68%	22	0.95%	99.31%
Greater than 7.68%	16	0.69%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-2.75%	2.47%	77.95%	68.27%
±2σ	-5.35%	5.07%	95.44%	95.45%
±3σ	-7.96%	7.68%	99.00%	99.73%

Descriptive Statistics

Mean	-0.140%
Standard Error	0.054%
Median	-0.241%
Mode	0.000%
Standard Deviation	2.606%
Sample Variance	6.791%
Kurtosis	19.31
Skewness	1.41
Range	53.903%
Minimum	-21.417%
Maximum	32.486%
Count	2304

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	1.936%	994	43.14%	0.835%
Negative	-1.847%	1217	52.82%	-0.976%
Zero	0.000%	93	4.04%	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 1.10 proves the distribution possesses Fat Tails (Higher Outlier Risk).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -13.35%	1	0.19%	0.19%
-13.35% to -9.71%	8	1.51%	1.70%
-9.71% to -6.06%	27	5.09%	6.79%
-6.06% to -2.42%	75	14.15%	20.94%
-2.42% to 1.23%	148	27.92%	48.87%
1.23% to 4.87%	167	31.51%	80.38%
4.87% to 8.51%	73	13.77%	94.15%
8.51% to 12.15%	24	4.53%	98.68%
12.15% to 15.80%	4	0.75%	99.43%
Greater than 15.80%	3	0.57%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-3.63%	6.08%	71.32%	68.27%
±2σ	-8.49%	10.94%	95.09%	95.45%
±3σ	-13.35%	15.80%	99.25%	99.73%

Descriptive Statistics

Mean	1.225%
Standard Error	0.211%
Median	1.461%
Mode	0.000%
Standard Deviation	4.858%
Sample Variance	23.599%
Kurtosis	1.10
Skewness	0.07
Range	37.652%
Minimum	-13.490%
Maximum	24.162%
Count	530

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	4.192%	324	61.13%	2.563%
Negative	-3.563%	199	37.55%	-1.338%
Zero	0.000%	7	1.32%	0.000%

Average True Range Percentage (ATRP)

Months	Horizon	Average Monthly True Range %
3	1 Quarter	7.65%
12	1 Year	7.23%
36	3 Years	7.71%
60	5 Years	8.37%
120	10 Years	8.41%
240	20 Years	7.52%
600	50 Years	8.10%

High-to-Low Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 3.95. Further, an Excess Kurtosis of 33.29 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -6.01%	0	0.00%	0.00%
-6.01% to -2.39%	0	0.00%	0.00%
-2.39% to 1.24%	0	0.00%	0.00%
1.24% to 4.86%	82	15.44%	15.44%
4.86% to 8.49%	249	46.89%	62.34%
8.49% to 12.11%	122	22.98%	85.31%
12.11% to 15.74%	44	8.29%	93.60%
15.74% to 19.36%	17	3.20%	96.80%
19.36% to 22.99%	8	1.51%	98.31%
Greater than 22.99%	9	1.69%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	3.65%	13.32%	83.99%	68.27%
±2σ	-1.18%	18.15%	96.42%	95.45%
±3σ	-6.01%	22.99%	98.31%	99.73%

Descriptive Statistics

Mean	8.488%
Standard Error	0.210%
Median	7.366%
Mode	6.087%
Standard Deviation	4.833%
Sample Variance	23.361%
Kurtosis	33.29
Skewness	3.95
Range	61.311%
Minimum	2.083%
Maximum	63.394%
Count	531

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	8.488%	531	100.00%	8.488%
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 0.34. Further, an Excess Kurtosis of 0.73 proves the distribution possesses Normal Tails (Mesokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -15.13%	1	0.19%	0.19%
-15.13% to -11.49%	4	0.75%	0.94%
-11.49% to -7.85%	25	4.71%	5.65%
-7.85% to -4.21%	75	14.12%	19.77%
-4.21% to -0.57%	176	33.15%	52.92%
-0.57% to 3.07%	144	27.12%	80.04%
3.07% to 6.71%	66	12.43%	92.47%
6.71% to 10.35%	28	5.27%	97.74%
10.35% to 13.98%	10	1.88%	99.62%
Greater than 13.98%	2	0.38%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-5.42%	4.28%	70.81%	68.27%
±2σ	-10.28%	9.13%	95.10%	95.45%
±3σ	-15.13%	13.99%	99.44%	99.73%

Descriptive Statistics

Mean	-0.571%
Standard Error	0.211%
Median	-1.064%
Mode	0.000%
Standard Deviation	4.852%
Sample Variance	23.541%
Kurtosis	0.73
Skewness	0.34
Range	35.495%
Minimum	-18.414%
Maximum	17.081%
Count	531

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	3.938%	219	41.24%	1.624%
Negative	-3.873%	301	56.69%	-2.195%
Zero	0.000%	11	2.07%	0.000%

Close-to-Close Returns

Gram-Charlier Analysis: Data reveals Fairly Symmetrical with a Skewness factor of 0.13. Further, an Excess Kurtosis of 1.23 proves the distribution possesses Fat Tails (Higher Outlier Risk).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -18.49%	1	0.56%	0.56%
-18.49% to -12.97%	1	0.56%	1.13%
-12.97% to -7.45%	8	4.52%	5.65%
-7.45% to -1.93%	29	16.38%	22.03%
-1.93% to 3.59%	52	29.38%	51.41%
3.59% to 9.11%	45	25.42%	76.84%
9.11% to 14.63%	31	17.51%	94.35%
14.63% to 20.16%	6	3.39%	97.74%
20.16% to 25.68%	3	1.69%	99.44%
Greater than 25.68%	1	0.56%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-3.77%	10.95%	77.40%	68.27%
±2σ	-11.13%	18.32%	93.79%	95.45%
±3σ	-18.49%	25.68%	98.87%	99.73%

Descriptive Statistics

Mean	3.592%
Standard Error	0.553%
Median	3.515%
Mode	2.487%
Standard Deviation	7.362%
Sample Variance	54.200%
Kurtosis	1.23
Skewness	0.13
Range	51.429%
Minimum	-18.693%
Maximum	32.736%
Count	177

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	7.142%	124	70.06%	5.003%
Negative	-4.807%	52	29.38%	-1.412%
Zero	0.000%	1	0.56%	0.000%

Average True Range Percentage (ATRP)

Quarters	Horizon	Average Quarterly True Range %
4	1 Year	11.86%
12	3 Years	12.25%
20	5 Years	14.07%
40	10 Years	14.31%
80	20 Years	13.05%
200	50 Years	13.95%

High-to-Low Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 2.92. Further, an Excess Kurtosis of 14.76 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -7.71%	0	0.00%	0.00%
-7.71% to -2.01%	0	0.00%	0.00%
-2.01% to 3.69%	0	0.00%	0.00%
3.69% to 9.39%	26	14.61%	14.61%
9.39% to 15.09%	85	47.75%	62.36%
15.09% to 20.79%	45	25.28%	87.64%
20.79% to 26.49%	11	6.18%	93.82%
26.49% to 32.19%	4	2.25%	96.07%
32.19% to 37.89%	4	2.25%	98.31%
Greater than 37.89%	3	1.69%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	7.49%	22.69%	83.15%	68.27%
±2σ	-0.11%	30.29%	96.07%	95.45%
±3σ	-7.71%	37.89%	98.31%	99.73%

Descriptive Statistics

Mean	15.092%
Standard Error	0.570%
Median	13.590%
Mode	12.069%
Standard Deviation	7.600%
Sample Variance	57.761%
Kurtosis	14.76
Skewness	2.92
Range	64.745%
Minimum	3.939%
Maximum	68.684%
Count	178

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	15.092%	178	100.00%	15.092%
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 0.44. Further, an Excess Kurtosis of 1.22 proves the distribution possesses Fat Tails (Higher Outlier Risk).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -23.09%	1	0.56%	0.56%
-23.09% to -17.76%	0	0.00%	0.56%
-17.76% to -12.42%	7	3.93%	4.49%
-12.42% to -7.09%	35	19.66%	24.16%
-7.09% to -1.76%	49	27.53%	51.69%
-1.76% to 3.58%	53	29.78%	81.46%
3.58% to 8.91%	22	12.36%	93.82%
8.91% to 14.24%	4	2.25%	96.07%
14.24% to 19.57%	6	3.37%	99.44%
Greater than 19.57%	1	0.56%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-8.87%	5.35%	76.40%	68.27%
±2σ	-15.98%	12.46%	93.26%	95.45%
±3σ	-23.09%	19.57%	98.88%	99.73%

Descriptive Statistics

Mean	-1.758%
Standard Error	0.533%
Median	-2.042%
Mode	0.000%
Standard Deviation	7.111%
Sample Variance	50.563%
Kurtosis	1.22
Skewness	0.44
Range	49.249%
Minimum	-24.676%
Maximum	24.573%
Count	178

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	5.459%	64	35.95%	1.963%
Negative	-6.132%	108	60.67%	-3.721%
Zero	0.000%	6	3.37%	0.000%

SO Deep Analytical Report