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%	1.99%	1.49%	1.72%	92.17	94.95	90.80	96.38
Weekly	3.38%	3.41%	3.39%	4.62%	3.28%	3.79%	90.53	96.67	87.61	99.89
Monthly	5.65%	6.96%	5.75%	9.78%	6.83%	7.88%	87.38	100.16	81.61	107.23
Quarterly	8.65%	11.93%	8.73%	16.21%	11.82%	13.65%	83.12	105.29	73.85	118.50
Annual	—	—	—	—	23.64%	27.30%	73.85	118.50	58.30	150.11
Option Time Horizon	—	—	—	—	9.09%	10.50%	85.42	102.46	77.99	112.21

Calculation Notes: Computed at 2026-02-22T14:18 UTC | Reference Contract: Call option expiring 2026-04-17 (54 days) | Spot Price (S): $93.55 | Strike (K): $95.00 (first OTM call ≥ spot) | Observed Mid-Price: $2.8250 (Bid $2.3500 / Ask $3.3000) | Risk-Free Rate (r): 3.72% (1-Month CMT, US Treasury) | Dividend Yield (q): 2.75% | Binomial IV (Annual): 23.64% (CRR binomial tree, American, n=20 steps) | BS IV: 23.90% (European Black-Scholes) | Yahoo IV (Annual): 27.30% → 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
2025-12-11	$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%	63	0.91%	1.54%
-3.50% to -2.31%	227	3.26%	4.80%
-2.31% to -1.13%	755	10.86%	15.66%
-1.13% to 0.05%	2342	33.68%	49.34%
0.05% to 1.24%	2431	34.96%	84.30%
1.24% to 2.42%	814	11.71%	96.00%
2.42% to 3.61%	178	2.56%	98.56%
3.61% to 4.79%	56	0.81%	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%	79.70%	68.27%
±2σ	-3.10%	3.21%	95.46%	95.45%
±3σ	-4.68%	4.79%	98.73%	99.73%

Descriptive Statistics

Mean	0.054%
Standard Error	0.019%
Median	0.072%
Mode	0.000%
Standard Deviation	1.579%
Sample Variance	2.492%
Kurtosis	15.67
Skewness	-0.40
Range	34.510%
Minimum	-18.972%
Maximum	15.538%
Count	6954

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	1.066%	3633	52.24%	0.557%
Negative	-1.083%	3231	46.46%	-0.503%
Zero	0.000%	90	1.29%	0.000%

Average True Range Percentage (ATRP)

Trading Days	Horizon	Average Daily True Range %
5	1 Week	2.44%
20	1 Month	2.05%
60	1 Quarter	2.03%
250	1 Year	2.28%
750	3 Years	1.99%
1,250	5 Years	1.99%
2,500	10 Years	1.97%
5,000	20 Years	1.95%
12,500	50 Years	2.07%

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 57.58 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -2.37%	0	0.00%	0.00%
-2.37% to -1.27%	0	0.00%	0.00%
-1.27% to -0.18%	0	0.00%	0.00%
-0.18% to 0.92%	659	9.48%	9.48%
0.92% to 2.01%	3821	54.94%	64.41%
2.01% to 3.11%	1647	23.68%	88.09%
3.11% to 4.20%	470	6.76%	94.85%
4.20% to 5.30%	189	2.72%	97.57%
5.30% to 6.39%	62	0.89%	98.46%
Greater than 6.39%	107	1.54%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	0.55%	3.47%	90.93%	68.27%
±2σ	-0.91%	4.93%	97.01%	95.45%
±3σ	-2.37%	6.39%	98.46%	99.73%

Descriptive Statistics

Mean	2.013%
Standard Error	0.018%
Median	1.666%
Mode	0.993%
Standard Deviation	1.460%
Sample Variance	2.133%
Kurtosis	57.58
Skewness	5.37
Range	30.717%
Minimum	0.402%
Maximum	31.119%
Count	6955

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	2.013%	6955	100.00%	2.013%
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 13.68 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -4.30%	50	0.72%	0.72%
-4.30% to -3.23%	49	0.70%	1.42%
-3.23% to -2.17%	207	2.98%	4.40%
-2.17% to -1.10%	838	12.05%	16.45%
-1.10% to -0.03%	2406	34.59%	51.04%
-0.03% to 1.03%	2266	32.58%	83.62%
1.03% to 2.10%	795	11.43%	95.05%
2.10% to 3.17%	218	3.13%	98.19%
3.17% to 4.23%	80	1.15%	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%	78.92%	68.27%
±2σ	-2.88%	2.81%	95.53%	95.45%
±3σ	-4.30%	4.23%	98.62%	99.73%

Descriptive Statistics

Mean	-0.032%
Standard Error	0.017%
Median	-0.055%
Mode	0.000%
Standard Deviation	1.422%
Sample Variance	2.022%
Kurtosis	13.68
Skewness	0.60
Range	31.802%
Minimum	-11.519%
Maximum	20.283%
Count	6955

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	1.010%	3238	46.56%	0.470%
Negative	-0.968%	3608	51.88%	-0.502%
Zero	0.000%	109	1.57%	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 -9.89%	11	0.76%	0.76%
-9.89% to -7.35%	22	1.52%	2.29%
-7.35% to -4.82%	37	2.56%	4.85%
-4.82% to -2.28%	164	11.37%	16.22%
-2.28% to 0.26%	456	31.60%	47.82%
0.26% to 2.79%	520	36.04%	83.85%
2.79% to 5.33%	170	11.78%	95.63%
5.33% to 7.87%	37	2.56%	98.20%
7.87% to 10.40%	18	1.25%	99.45%
Greater than 10.40%	8	0.55%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-3.12%	3.64%	79.07%	68.27%
±2σ	-6.51%	7.02%	94.80%	95.45%
±3σ	-9.89%	10.40%	98.68%	99.73%

Descriptive Statistics

Mean	0.257%
Standard Error	0.089%
Median	0.335%
Mode	0.000%
Standard Deviation	3.382%
Sample Variance	11.438%
Kurtosis	10.62
Skewness	-0.29
Range	59.077%
Minimum	-30.636%
Maximum	28.441%
Count	1443

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	2.299%	811	56.20%	1.292%
Negative	-2.405%	621	43.03%	-1.035%
Zero	0.000%	11	0.76%	0.000%

Average True Range Percentage (ATRP)

Weeks	Horizon	Average Weekly True Range %
4	1 Month	4.70%
12	1 Quarter	4.41%
52	1 Year	5.30%
156	3 Years	4.62%
260	5 Years	4.62%
520	10 Years	4.52%
1,040	20 Years	4.42%
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 40.80 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -5.43%	0	0.00%	0.00%
-5.43% to -2.87%	0	0.00%	0.00%
-2.87% to -0.31%	0	0.00%	0.00%
-0.31% to 2.25%	147	10.18%	10.18%
2.25% to 4.80%	792	54.85%	65.03%
4.80% to 7.37%	339	23.48%	88.50%
7.37% to 9.92%	77	5.33%	93.84%
9.92% to 12.48%	50	3.46%	97.30%
12.48% to 15.04%	20	1.39%	98.68%
Greater than 15.04%	19	1.32%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	1.39%	8.22%	90.44%	68.27%
±2σ	-2.02%	11.63%	96.95%	95.45%
±3σ	-5.43%	15.04%	98.68%	99.73%

Descriptive Statistics

Mean	4.805%
Standard Error	0.090%
Median	4.002%
Mode	2.239%
Standard Deviation	3.413%
Sample Variance	11.651%
Kurtosis	40.80
Skewness	4.71
Range	50.958%
Minimum	1.113%
Maximum	52.071%
Count	1444

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	4.805%	1444	100.00%	4.805%
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 27.33 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	2.91%	3.88%
-5.17% to -2.63%	174	12.05%	15.93%
-2.63% to -0.09%	538	37.26%	53.19%
-0.09% to 2.46%	447	30.96%	84.14%
2.46% to 5.00%	161	11.15%	95.29%
5.00% to 7.54%	36	2.49%	97.78%
7.54% to 10.08%	18	1.25%	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%	80.12%	68.27%
±2σ	-6.86%	6.69%	95.50%	95.45%
±3σ	-10.25%	10.08%	98.68%	99.73%

Descriptive Statistics

Mean	-0.087%
Standard Error	0.089%
Median	-0.278%
Mode	0.000%
Standard Deviation	3.389%
Sample Variance	11.487%
Kurtosis	27.33
Skewness	2.15
Range	65.971%
Minimum	-19.435%
Maximum	46.536%
Count	1444

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	2.441%	646	44.74%	1.092%
Negative	-2.166%	786	54.43%	-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 -0.22. Further, an Excess Kurtosis of 0.87 proves the distribution possesses Normal Tails (Mesokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -15.91%	2	0.60%	0.60%
-15.91% to -11.67%	5	1.51%	2.11%
-11.67% to -7.44%	15	4.52%	6.63%
-7.44% to -3.20%	47	14.16%	20.78%
-3.20% to 1.04%	80	24.10%	44.88%
1.04% to 5.27%	115	34.64%	79.52%
5.27% to 9.51%	48	14.46%	93.98%
9.51% to 13.74%	15	4.52%	98.49%
13.74% to 17.98%	3	0.90%	99.40%
Greater than 17.98%	2	0.60%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-4.61%	6.68%	70.78%	68.27%
±2σ	-10.26%	12.33%	94.58%	95.45%
±3σ	-15.91%	17.98%	98.80%	99.73%

Descriptive Statistics

Mean	1.036%
Standard Error	0.310%
Median	1.640%
Mode	-0.448%
Standard Deviation	5.648%
Sample Variance	31.905%
Kurtosis	0.87
Skewness	-0.22
Range	37.189%
Minimum	-18.332%
Maximum	18.857%
Count	332

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	4.491%	204	61.45%	2.760%
Negative	-4.471%	128	38.55%	-1.724%
Zero	0.000%	0	0.00%	0.000%

Average True Range Percentage (ATRP)

Months	Horizon	Average Monthly True Range %
3	1 Quarter	10.14%
12	1 Year	9.65%
36	3 Years	9.48%
60	5 Years	9.78%
120	10 Years	9.54%
240	20 Years	9.10%
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 19.39 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -10.41%	0	0.00%	0.00%
-10.41% to -5.19%	0	0.00%	0.00%
-5.19% to 0.04%	0	0.00%	0.00%
0.04% to 5.26%	43	12.91%	12.91%
5.26% to 10.48%	177	53.15%	66.07%
10.48% to 15.70%	68	20.42%	86.49%
15.70% to 20.92%	27	8.11%	94.59%
20.92% to 26.14%	7	2.10%	96.70%
26.14% to 31.36%	2	0.60%	97.30%
Greater than 31.36%	9	2.70%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	3.52%	17.44%	89.49%	68.27%
±2σ	-3.45%	24.40%	96.70%	95.45%
±3σ	-10.41%	31.36%	97.30%	99.73%

Descriptive Statistics

Mean	10.478%
Standard Error	0.382%
Median	8.772%
Mode	5.227%
Standard Deviation	6.962%
Sample Variance	48.475%
Kurtosis	19.39
Skewness	3.51
Range	64.782%
Minimum	3.400%
Maximum	68.182%
Count	333

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	10.478%	333	100.00%	10.478%
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 0.72. Further, an Excess Kurtosis of 1.65 proves the distribution possesses Fat Tails (Higher Outlier Risk).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -17.66%	0	0.00%	0.00%
-17.66% to -13.35%	3	0.90%	0.90%
-13.35% to -9.04%	8	2.40%	3.30%
-9.04% to -4.72%	54	16.22%	19.52%
-4.72% to -0.41%	120	36.04%	55.56%
-0.41% to 3.90%	82	24.62%	80.18%
3.90% to 8.21%	44	13.21%	93.39%
8.21% to 12.53%	12	3.60%	97.00%
12.53% to 16.84%	7	2.10%	99.10%
Greater than 16.84%	3	0.90%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-6.16%	5.34%	72.37%	68.27%
±2σ	-11.91%	11.09%	94.89%	95.45%
±3σ	-17.66%	16.84%	99.10%	99.73%

Descriptive Statistics

Mean	-0.410%
Standard Error	0.315%
Median	-1.268%
Mode	-11.332%
Standard Deviation	5.750%
Sample Variance	33.057%
Kurtosis	1.65
Skewness	0.72
Range	40.828%
Minimum	-16.516%
Maximum	24.312%
Count	333

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	4.875%	136	40.84%	1.991%
Negative	-4.078%	196	58.86%	-2.400%
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 2.17 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 -9.87%	2	1.80%	4.50%
-9.87% to -3.38%	21	18.92%	23.42%
-3.38% to 3.10%	27	24.32%	47.75%
3.10% to 9.59%	34	30.63%	78.38%
9.59% to 16.08%	20	18.02%	96.40%
16.08% to 22.57%	3	2.70%	99.10%
22.57% to 29.06%	0	0.00%	99.10%
Greater than 29.06%	1	0.90%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-5.55%	11.75%	73.87%	68.27%
±2σ	-14.20%	20.41%	95.50%	95.45%
±3σ	-22.85%	29.06%	98.20%	99.73%

Descriptive Statistics

Mean	3.103%
Standard Error	0.821%
Median	3.781%
Mode	-23.620%
Standard Deviation	8.651%
Sample Variance	74.842%
Kurtosis	2.17
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	7.766%	74	66.67%	5.177%
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	14.13%
12	3 Years	15.21%
20	5 Years	16.21%
40	10 Years	16.00%
80	20 Years	15.36%
200	50 Years	16.64%

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 13.03 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -16.90%	0	0.00%	0.00%
-16.90% to -7.95%	0	0.00%	0.00%
-7.95% to 0.99%	0	0.00%	0.00%
0.99% to 9.93%	11	9.82%	9.82%
9.93% to 18.88%	60	53.57%	63.39%
18.88% to 27.82%	30	26.79%	90.18%
27.82% to 36.77%	4	3.57%	93.75%
36.77% to 45.71%	3	2.68%	96.43%
45.71% to 54.65%	1	0.89%	97.32%
Greater than 54.65%	3	2.68%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	6.95%	30.80%	91.96%	68.27%
±2σ	-4.97%	42.73%	94.64%	95.45%
±3σ	-16.90%	54.65%	97.32%	99.73%

Descriptive Statistics

Mean	18.878%
Standard Error	1.127%
Median	15.826%
Mode	7.216%
Standard Deviation	11.925%
Sample Variance	142.203%
Kurtosis	13.03
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	18.878%	112	100.00%	18.878%
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 2.84 proves the distribution possesses Fat Tails (Higher Outlier Risk).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -27.57%	0	0.00%	0.00%
-27.57% to -21.02%	1	0.89%	0.89%
-21.02% to -14.47%	1	0.89%	1.79%
-14.47% to -7.93%	24	21.43%	23.21%
-7.93% to -1.38%	39	34.82%	58.04%
-1.38% to 5.17%	25	22.32%	80.36%
5.17% to 11.72%	16	14.29%	94.64%
11.72% to 18.27%	2	1.79%	96.43%
18.27% 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	-10.11%	7.35%	75.89%	68.27%
±2σ	-18.84%	16.08%	95.54%	95.45%
±3σ	-27.57%	24.81%	98.21%	99.73%

Descriptive Statistics

Mean	-1.379%
Standard Error	0.825%
Median	-3.072%
Mode	2.618%
Standard Deviation	8.731%
Sample Variance	76.225%
Kurtosis	2.84
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	-6.441%	72	64.29%	-4.141%
Zero	0.000%	0	0.00%	0.000%

SRE Deep Analytical Report