SRE - 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	1.58%	1.46%	1.42%	2.00%	1.74%	1.80%	91.39	94.63	89.82	96.30
Weekly	3.38%	3.41%	3.39%	4.61%	3.83%	3.96%	89.50	96.63	86.14	100.41
Monthly	5.65%	6.96%	5.75%	9.66%	7.98%	8.25%	85.87	100.72	79.28	109.09
Quarterly	8.65%	11.92%	8.73%	16.30%	13.82%	14.29%	81.00	106.78	70.54	122.61
Annual	—	—	—	—	27.64%	28.59%	70.54	122.61	53.51	161.64
Option Time Horizon	—	—	—	—	10.43%	10.79%	83.79	103.23	75.49	114.58

Calculation Notes: Computed at 2026-03-23T16:33 UTC | Reference Contract: Call option expiring 2026-05-15 (52 days) | Spot Price (S): $93.00 | Strike (K): $95.00 (first OTM call ≥ spot) | Observed Mid-Price: $3.0750 (Bid $2.9500 / Ask $3.2000) | Risk-Free Rate (r): 3.73% (1-Month CMT, US Treasury) | Dividend Yield (q): 2.81% | Binomial IV (Annual): 27.64% (CRR binomial tree, American, n=20 steps) | BS IV: 27.97% (European Black-Scholes) | Yahoo IV (Annual): 28.59% → 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
2026-03-19	$0.6580
2025-12-11	$0.6450
2025-10-01	$0.6450
2025-06-26	$0.6450
2025-03-20	$0.6450
2024-12-05	$0.6200
2024-09-26	$0.6200
2024-06-27	$0.6200
2024-03-20	$0.6200
2023-12-05	$0.5950
2023-09-26	$0.5950
2023-07-03	$0.5950
2023-03-21	$0.5950
2022-12-21	$0.5725
2022-09-22	$0.5725
2022-07-06	$0.5725
2022-03-24	$0.5725
2021-12-22	$0.5500
2021-09-23	$0.5500
2021-07-06	$0.5500
2021-03-24	$0.5500
2020-12-17	$0.5225
2020-09-24	$0.5225
2020-06-25	$0.5225
2020-03-19	$0.5225
2019-12-27	$0.4840
2019-09-19	$0.4840
2019-07-03	$0.4840
2019-03-21	$0.4840
2018-12-28	$0.4475
2018-09-20	$0.4475
2018-06-29	$0.4475
2018-03-22	$0.4475
2017-12-28	$0.4115
2017-09-21	$0.4115
2017-07-05	$0.4115
2017-03-21	$0.4115
2016-12-27	$0.3775
2016-09-27	$0.3775
2016-06-28	$0.3775
2016-03-22	$0.3775
2015-12-23	$0.3500
2015-09-23	$0.3500
2015-06-25	$0.3500
2015-03-25	$0.3500
2014-12-18	$0.3300
2014-09-23	$0.3300
2014-06-27	$0.3300
2014-03-25	$0.3300
2013-12-27	$0.3150
2013-09-25	$0.3150
2013-06-26	$0.3150
2013-03-26	$0.3150
2012-12-26	$0.3000
2012-09-26	$0.3000
2012-06-25	$0.3000
2012-03-22	$0.3000
2011-12-20	$0.2400
2011-09-27	$0.2400
2011-06-22	$0.2400
2011-03-16	$0.2400
2010-12-21	$0.1950
2010-09-27	$0.1950
2010-06-16	$0.1950
2010-03-16	$0.1950
2009-12-28	$0.1950
2009-09-22	$0.1950
2009-06-17	$0.1950
2009-03-17	$0.1950
2008-12-19	$0.1750
2008-09-23	$0.1750
2008-06-17	$0.1750
2008-03-18	$0.1600
2007-12-18	$0.1550
2007-09-25	$0.1550
2007-06-19	$0.1550
2007-03-20	$0.1550
2006-12-19	$0.1500
2006-09-26	$0.1500
2006-09-06	$1.2375
2006-06-20	$0.1500
2006-03-21	$0.1500
2005-12-20	$0.1450
2005-09-27	$0.1450
2005-06-21	$0.1450
2005-03-22	$0.1450
2004-12-20	$0.1250
2004-09-27	$0.1250
2004-06-21	$0.1250
2004-03-18	$0.1250
2003-12-19	$0.1250
2003-09-19	$0.1250
2003-06-19	$0.1250
2003-03-18	$0.1250
2002-12-19	$0.1250
2002-09-18	$0.1250
2002-06-19	$0.1250
2002-03-18	$0.1250
2001-12-19	$0.1250
2001-09-18	$0.1250
2001-06-19	$0.1250
2001-03-16	$0.1250
2000-12-19	$0.1250
2000-09-18	$0.1250
2000-06-19	$0.1250
2000-03-16	$0.1250
1999-12-17	$0.1950
1999-09-16	$0.1950
1999-06-17	$0.1950
1999-03-17	$0.1950
1998-12-17	$0.1950
1998-09-17	$0.1950

Close-to-Close Returns

Gram-Charlier Analysis: Data reveals Fairly Symmetrical with a Skewness factor of -0.40. Further, an Excess Kurtosis of 15.67 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -4.68%	44	0.63%	0.63%
-4.68% to -3.50%	64	0.92%	1.55%
-3.50% to -2.31%	227	3.25%	4.80%
-2.31% to -1.13%	757	10.85%	15.66%
-1.13% to 0.05%	2350	33.69%	49.35%
0.05% to 1.24%	2439	34.97%	84.32%
1.24% to 2.42%	816	11.70%	96.01%
2.42% to 3.60%	178	2.55%	98.57%
3.60% to 4.79%	56	0.80%	99.37%
Greater than 4.79%	44	0.63%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-1.52%	1.63%	79.71%	68.27%
±2σ	-3.10%	3.21%	95.46%	95.45%
±3σ	-4.68%	4.79%	98.74%	99.73%

Descriptive Statistics

Mean	0.054%
Standard Error	0.019%
Median	0.071%
Mode	0.000%
Standard Deviation	1.578%
Sample Variance	2.489%
Kurtosis	15.67
Skewness	-0.40
Range	34.510%
Minimum	-18.972%
Maximum	15.538%
Count	6975

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	1.065%	3645	52.26%	0.557%
Negative	-1.083%	3239	46.44%	-0.503%
Zero	0.000%	91	1.30%	0.000%

Average True Range Percentage (ATRP)

Trading Days	Horizon	Average Daily True Range %
5	1 Week	2.33%
20	1 Month	2.30%
60	1 Quarter	2.16%
250	1 Year	2.13%
750	3 Years	1.98%
1,250	5 Years	2.00%
2,500	10 Years	1.98%
5,000	20 Years	1.95%
12,500	50 Years	2.08%

High-to-Low Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 5.37. Further, an Excess Kurtosis of 57.59 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -2.36%	0	0.00%	0.00%
-2.36% to -1.27%	0	0.00%	0.00%
-1.27% to -0.17%	0	0.00%	0.00%
-0.17% to 0.92%	666	9.55%	9.55%
0.92% to 2.01%	3827	54.86%	64.41%
2.01% to 3.11%	1651	23.67%	88.07%
3.11% to 4.20%	473	6.78%	94.85%
4.20% to 5.30%	190	2.72%	97.58%
5.30% to 6.39%	62	0.89%	98.47%
Greater than 6.39%	107	1.53%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	0.55%	3.47%	90.93%	68.27%
±2σ	-0.90%	4.93%	97.00%	95.45%
±3σ	-2.36%	6.39%	98.47%	99.73%

Descriptive Statistics

Mean	2.014%
Standard Error	0.017%
Median	1.667%
Mode	0.993%
Standard Deviation	1.459%
Sample Variance	2.129%
Kurtosis	57.59
Skewness	5.37
Range	30.717%
Minimum	0.402%
Maximum	31.119%
Count	6976

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	2.014%	6976	100.00%	2.014%
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 Right Skewed (Positive Asymmetry) with a Skewness factor of 0.60. Further, an Excess Kurtosis of 13.67 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -4.29%	50	0.72%	0.72%
-4.29% to -3.23%	49	0.70%	1.42%
-3.23% to -2.16%	209	3.00%	4.42%
-2.16% to -1.10%	839	12.03%	16.44%
-1.10% to -0.03%	2414	34.60%	51.05%
-0.03% to 1.03%	2274	32.60%	83.64%
1.03% to 2.10%	795	11.40%	95.04%
2.10% to 3.17%	218	3.12%	98.17%
3.17% to 4.23%	82	1.18%	99.34%
Greater than 4.23%	46	0.66%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-1.45%	1.39%	78.91%	68.27%
±2σ	-2.87%	2.81%	95.53%	95.45%
±3σ	-4.29%	4.23%	98.62%	99.73%

Descriptive Statistics

Mean	-0.031%
Standard Error	0.017%
Median	-0.055%
Mode	0.000%
Standard Deviation	1.421%
Sample Variance	2.020%
Kurtosis	13.67
Skewness	0.60
Range	31.802%
Minimum	-11.519%
Maximum	20.283%
Count	6976

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	1.010%	3248	46.56%	0.470%
Negative	-0.967%	3619	51.88%	-0.502%
Zero	0.000%	109	1.56%	0.000%

Close-to-Close Returns

Gram-Charlier Analysis: Data reveals Fairly Symmetrical with a Skewness factor of -0.29. Further, an Excess Kurtosis of 10.62 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -9.88%	11	0.76%	0.76%
-9.88% to -7.35%	22	1.52%	2.28%
-7.35% to -4.81%	38	2.63%	4.91%
-4.81% to -2.28%	165	11.40%	16.31%
-2.28% to 0.26%	456	31.51%	47.82%
0.26% to 2.79%	522	36.07%	83.90%
2.79% to 5.32%	170	11.75%	95.65%
5.32% to 7.86%	37	2.56%	98.20%
7.86% to 10.39%	18	1.24%	99.45%
Greater than 10.39%	8	0.55%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-3.12%	3.63%	78.99%	68.27%
±2σ	-6.50%	7.01%	94.82%	95.45%
±3σ	-9.88%	10.39%	98.69%	99.73%

Descriptive Statistics

Mean	0.256%
Standard Error	0.089%
Median	0.335%
Mode	0.000%
Standard Deviation	3.379%
Sample Variance	11.420%
Kurtosis	10.62
Skewness	-0.29
Range	59.077%
Minimum	-30.636%
Maximum	28.441%
Count	1447

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	2.298%	813	56.19%	1.291%
Negative	-2.404%	623	43.05%	-1.035%
Zero	0.000%	11	0.76%	0.000%

Average True Range Percentage (ATRP)

Weeks	Horizon	Average Weekly True Range %
4	1 Month	5.53%
12	1 Quarter	5.27%
52	1 Year	4.83%
156	3 Years	4.63%
260	5 Years	4.61%
520	10 Years	4.53%
1,040	20 Years	4.43%
2,600	50 Years	4.68%

High-to-Low Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 4.71. Further, an Excess Kurtosis of 40.88 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -5.42%	0	0.00%	0.00%
-5.42% to -2.86%	0	0.00%	0.00%
-2.86% to -0.31%	0	0.00%	0.00%
-0.31% to 2.25%	148	10.22%	10.22%
2.25% to 4.81%	791	54.63%	64.85%
4.81% to 7.36%	343	23.69%	88.54%
7.36% to 9.92%	77	5.32%	93.85%
9.92% to 12.48%	50	3.45%	97.31%
12.48% to 15.03%	20	1.38%	98.69%
Greater than 15.03%	19	1.31%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	1.40%	8.22%	90.47%	68.27%
±2σ	-2.01%	11.62%	96.96%	95.45%
±3σ	-5.42%	15.03%	98.69%	99.73%

Descriptive Statistics

Mean	4.807%
Standard Error	0.090%
Median	4.004%
Mode	2.239%
Standard Deviation	3.409%
Sample Variance	11.622%
Kurtosis	40.88
Skewness	4.71
Range	50.958%
Minimum	1.113%
Maximum	52.071%
Count	1448

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	4.807%	1448	100.00%	4.807%
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 2.15. Further, an Excess Kurtosis of 27.30 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -10.25%	5	0.35%	0.35%
-10.25% to -7.71%	9	0.62%	0.97%
-7.71% to -5.17%	42	2.90%	3.87%
-5.17% to -2.63%	175	12.09%	15.95%
-2.63% to -0.09%	539	37.22%	53.18%
-0.09% to 2.45%	448	30.94%	84.12%
2.45% to 5.00%	162	11.19%	95.30%
5.00% to 7.54%	36	2.49%	97.79%
7.54% to 10.08%	18	1.24%	99.03%
Greater than 10.08%	14	0.97%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-3.48%	3.30%	80.04%	68.27%
±2σ	-6.86%	6.69%	95.51%	95.45%
±3σ	-10.25%	10.08%	98.69%	99.73%

Descriptive Statistics

Mean	-0.087%
Standard Error	0.089%
Median	-0.278%
Mode	0.000%
Standard Deviation	3.388%
Sample Variance	11.477%
Kurtosis	27.30
Skewness	2.15
Range	65.971%
Minimum	-19.435%
Maximum	46.536%
Count	1448

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	2.441%	648	44.75%	1.092%
Negative	-2.167%	788	54.42%	-1.179%
Zero	0.000%	12	0.83%	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 0.86 proves the distribution possesses Normal Tails (Mesokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -15.93%	2	0.60%	0.60%
-15.93% to -11.69%	5	1.50%	2.10%
-11.69% to -7.45%	15	4.50%	6.61%
-7.45% to -3.21%	47	14.11%	20.72%
-3.21% to 1.03%	81	24.32%	45.05%
1.03% to 5.27%	115	34.53%	79.58%
5.27% to 9.51%	47	14.11%	93.69%
9.51% to 13.75%	16	4.80%	98.50%
13.75% to 17.99%	3	0.90%	99.40%
Greater than 17.99%	2	0.60%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-4.62%	6.68%	70.87%	68.27%
±2σ	-10.27%	12.34%	94.59%	95.45%
±3σ	-15.93%	17.99%	98.80%	99.73%

Descriptive Statistics

Mean	1.032%
Standard Error	0.310%
Median	1.620%
Mode	-0.448%
Standard Deviation	5.653%
Sample Variance	31.961%
Kurtosis	0.86
Skewness	-0.21
Range	37.189%
Minimum	-18.332%
Maximum	18.857%
Count	333

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	4.503%	204	61.26%	2.759%
Negative	-4.457%	129	38.74%	-1.727%
Zero	0.000%	0	0.00%	0.000%

Average True Range Percentage (ATRP)

Months	Horizon	Average Monthly True Range %
3	1 Quarter	9.93%
12	1 Year	9.75%
36	3 Years	9.45%
60	5 Years	9.66%
120	10 Years	9.52%
240	20 Years	9.11%
600	50 Years	9.71%

High-to-Low Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 3.51. Further, an Excess Kurtosis of 19.40 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -10.40%	0	0.00%	0.00%
-10.40% to -5.18%	0	0.00%	0.00%
-5.18% to 0.04%	0	0.00%	0.00%
0.04% to 5.25%	43	12.87%	12.87%
5.25% to 10.47%	178	53.29%	66.17%
10.47% to 15.69%	68	20.36%	86.53%
15.69% to 20.91%	27	8.08%	94.61%
20.91% to 26.12%	7	2.10%	96.71%
26.12% to 31.34%	2	0.60%	97.31%
Greater than 31.34%	9	2.69%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	3.51%	17.43%	89.52%	68.27%
±2σ	-3.44%	24.39%	96.71%	95.45%
±3σ	-10.40%	31.34%	97.31%	99.73%

Descriptive Statistics

Mean	10.472%
Standard Error	0.381%
Median	8.761%
Mode	5.227%
Standard Deviation	6.957%
Sample Variance	48.398%
Kurtosis	19.40
Skewness	3.51
Range	64.782%
Minimum	3.400%
Maximum	68.182%
Count	334

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	10.472%	334	100.00%	10.472%
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 Right Skewed (Positive Asymmetry) with a Skewness factor of 0.71. Further, an Excess Kurtosis of 1.63 proves the distribution possesses Fat Tails (Higher Outlier Risk).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -17.67%	0	0.00%	0.00%
-17.67% to -13.36%	3	0.90%	0.90%
-13.36% to -9.04%	9	2.69%	3.59%
-9.04% to -4.72%	53	15.87%	19.46%
-4.72% to -0.41%	120	35.93%	55.39%
-0.41% to 3.91%	83	24.85%	80.24%
3.91% to 8.23%	44	13.17%	93.41%
8.23% to 12.54%	12	3.59%	97.01%
12.54% to 16.86%	7	2.10%	99.10%
Greater than 16.86%	3	0.90%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-6.16%	5.35%	72.46%	68.27%
±2σ	-11.92%	11.10%	94.91%	95.45%
±3σ	-17.67%	16.86%	99.10%	99.73%

Descriptive Statistics

Mean	-0.406%
Standard Error	0.315%
Median	-1.239%
Mode	-11.332%
Standard Deviation	5.755%
Sample Variance	33.126%
Kurtosis	1.63
Skewness	0.71
Range	40.828%
Minimum	-16.516%
Maximum	24.312%
Count	334

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	4.864%	137	41.02%	1.995%
Negative	-4.092%	196	58.68%	-2.401%
Zero	0.000%	1	0.30%	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 2.18 proves the distribution possesses Fat Tails (Higher Outlier Risk).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -22.85%	1	0.90%	0.90%
-22.85% to -16.36%	2	1.80%	2.70%
-16.36% to -9.88%	2	1.80%	4.50%
-9.88% to -3.39%	21	18.92%	23.42%
-3.39% to 3.10%	27	24.32%	47.75%
3.10% to 9.58%	34	30.63%	78.38%
9.58% to 16.07%	20	18.02%	96.40%
16.07% to 22.55%	3	2.70%	99.10%
22.55% to 29.04%	0	0.00%	99.10%
Greater than 29.04%	1	0.90%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-5.55%	11.74%	73.87%	68.27%
±2σ	-14.20%	20.39%	95.50%	95.45%
±3σ	-22.85%	29.04%	98.20%	99.73%

Descriptive Statistics

Mean	3.097%
Standard Error	0.821%
Median	3.781%
Mode	-23.620%
Standard Deviation	8.648%
Sample Variance	74.793%
Kurtosis	2.18
Skewness	-0.09
Range	60.943%
Minimum	-23.620%
Maximum	37.323%
Count	111

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	7.757%	74	66.67%	5.171%
Negative	-6.222%	37	33.33%	-2.074%
Zero	0.000%	0	0.00%	0.000%

Average True Range Percentage (ATRP)

Quarters	Horizon	Average Quarterly True Range %
4	1 Year	14.62%
12	3 Years	15.37%
20	5 Years	16.30%
40	10 Years	16.05%
80	20 Years	15.39%
200	50 Years	16.65%

High-to-Low Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 3.27. Further, an Excess Kurtosis of 13.06 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -16.85%	0	0.00%	0.00%
-16.85% to -7.92%	0	0.00%	0.00%
-7.92% to 1.02%	0	0.00%	0.00%
1.02% to 9.96%	11	9.82%	9.82%
9.96% to 18.90%	60	53.57%	63.39%
18.90% to 27.83%	30	26.79%	90.18%
27.83% to 36.77%	4	3.57%	93.75%
36.77% to 45.71%	3	2.68%	96.43%
45.71% to 54.64%	1	0.89%	97.32%
Greater than 54.64%	3	2.68%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	6.98%	30.81%	91.96%	68.27%
±2σ	-4.94%	42.73%	94.64%	95.45%
±3σ	-16.85%	54.64%	97.32%	99.73%

Descriptive Statistics

Mean	18.896%
Standard Error	1.126%
Median	15.825%
Mode	7.216%
Standard Deviation	11.916%
Sample Variance	141.984%
Kurtosis	13.06
Skewness	3.27
Range	76.727%
Minimum	7.216%
Maximum	83.943%
Count	112

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	18.896%	112	100.00%	18.896%
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 1.09. Further, an Excess Kurtosis of 2.85 proves the distribution possesses Fat Tails (Higher Outlier Risk).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -27.56%	0	0.00%	0.00%
-27.56% to -21.01%	1	0.89%	0.89%
-21.01% to -14.47%	1	0.89%	1.79%
-14.47% to -7.92%	24	21.43%	23.21%
-7.92% to -1.37%	39	34.82%	58.04%
-1.37% to 5.17%	25	22.32%	80.36%
5.17% to 11.72%	16	14.29%	94.64%
11.72% to 18.26%	2	1.79%	96.43%
18.26% to 24.81%	2	1.79%	98.21%
Greater than 24.81%	2	1.79%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-10.10%	7.35%	75.89%	68.27%
±2σ	-18.83%	16.08%	95.54%	95.45%
±3σ	-27.56%	24.81%	98.21%	99.73%

Descriptive Statistics

Mean	-1.374%
Standard Error	0.825%
Median	-3.072%
Mode	2.618%
Standard Deviation	8.728%
Sample Variance	76.170%
Kurtosis	2.85
Skewness	1.09
Range	58.792%
Minimum	-26.382%
Maximum	32.410%
Count	112

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	7.733%	40	35.71%	2.762%
Negative	-6.433%	72	64.29%	-4.136%
Zero	0.000%	0	0.00%	0.000%

SRE Deep Analytical Report