TNL - 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	2.92%	3.37%	2.67%	3.12%	1.81%	2.04%	74.82	77.57	73.48	78.98
Weekly	6.68%	8.95%	6.79%	7.31%	3.98%	4.49%	73.21	79.27	70.35	82.49
Monthly	15.68%	29.44%	13.99%	15.25%	8.28%	9.35%	70.13	82.76	64.55	89.90
Quarterly	19.58%	62.75%	22.33%	26.03%	14.34%	16.19%	66.00	87.93	57.18	101.48
Annual	—	—	—	—	28.68%	32.39%	57.18	101.48	42.93	135.20
Option Time Horizon	—	—	—	—	13.59%	15.35%	66.50	87.27	58.04	99.98

Calculation Notes: Computed at 2026-02-22T14:20 UTC | Reference Contract: Call option expiring 2026-05-15 (82 days) | Spot Price (S): $76.18 | Strike (K): $77.50 (first OTM call ≥ spot) | Observed Mid-Price: $3.6000 (Bid $3.1000 / Ask $4.1000) | Risk-Free Rate (r): 3.72% (1-Month CMT, US Treasury) | Dividend Yield (q): 2.97% | Binomial IV (Annual): 28.68% (CRR binomial tree, American, n=20 steps) | BS IV: 28.90% (European Black-Scholes) | Yahoo IV (Annual): 32.39% → 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
2025-12-12	$0.5600
2025-09-12	$0.5600
2025-06-13	$0.5600
2025-03-17	$0.5600
2024-12-13	$0.5000
2024-09-13	$0.5000
2024-06-14	$0.5000
2024-03-20	$0.5000
2023-12-14	$0.4500
2023-09-14	$0.4500
2023-06-14	$0.4500
2023-03-14	$0.4500
2022-12-14	$0.4000
2022-09-14	$0.4000
2022-06-14	$0.4000
2022-03-14	$0.4000
2021-12-14	$0.3500
2021-09-14	$0.3000
2021-06-14	$0.3000
2021-03-12	$0.3000
2020-12-14	$0.3000
2020-09-14	$0.3000
2020-06-12	$0.5000
2020-03-13	$0.5000
2019-12-12	$0.4500
2019-09-12	$0.4500
2019-06-13	$0.4500
2019-03-15	$0.4500
2018-12-13	$0.4100
2018-09-13	$0.4100
2018-06-14	$0.4100
2018-03-14	$0.2980
2017-11-24	$0.2619
2017-08-23	$0.2619
2017-05-24	$0.2619
2017-03-15	$0.2619
2016-11-23	$0.2257
2016-08-24	$0.2257
2016-05-25	$0.2257
2016-03-09	$0.2257
2015-11-25	$0.1896
2015-08-26	$0.1896
2015-05-27	$0.1896
2015-03-11	$0.1896
2014-11-26	$0.1580
2014-08-19	$0.1580
2014-05-28	$0.1580
2014-03-12	$0.1580
2013-11-22	$0.1309
2013-08-20	$0.1309
2013-05-23	$0.1309
2013-03-12	$0.1309
2012-11-19	$0.1038
2012-08-21	$0.1038
2012-05-22	$0.1038
2012-03-13	$0.1038
2011-11-21	$0.0677
2011-08-23	$0.0677
2011-05-24	$0.0677
2011-03-08	$0.0677
2010-11-22	$0.0542
2010-08-24	$0.0542
2010-05-25	$0.0542
2010-03-04	$0.0542
2009-11-20	$0.0181
2009-08-25	$0.0181
2009-05-26	$0.0181
2009-02-24	$0.0181
2008-11-24	$0.0181
2008-08-26	$0.0181
2008-05-27	$0.0181
2008-03-04	$0.0181
2007-11-08	$0.0181
2007-08-09	$0.0181

Close-to-Close Returns

Gram-Charlier Analysis: Data reveals Fairly Symmetrical with a Skewness factor of 0.36. Further, an Excess Kurtosis of 22.19 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -8.66%	37	0.75%	0.75%
-8.66% to -6.47%	40	0.81%	1.56%
-6.47% to -4.29%	120	2.44%	4.00%
-4.29% to -2.10%	428	8.69%	12.68%
-2.10% to 0.09%	1880	38.15%	50.83%
0.09% to 2.27%	1831	37.16%	87.99%
2.27% to 4.46%	397	8.06%	96.04%
4.46% to 6.65%	115	2.33%	98.38%
6.65% to 8.84%	38	0.77%	99.15%
Greater than 8.84%	42	0.85%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-2.83%	3.00%	83.30%	68.27%
±2σ	-5.75%	5.92%	95.78%	95.45%
±3σ	-8.66%	8.83%	98.40%	99.73%

Descriptive Statistics

Mean	0.087%
Standard Error	0.042%
Median	0.054%
Mode	0.000%
Standard Deviation	2.916%
Sample Variance	8.502%
Kurtosis	22.19
Skewness	0.36
Range	65.940%
Minimum	-30.552%
Maximum	35.388%
Count	4928

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	1.806%	2526	51.26%	0.926%
Negative	-1.743%	2371	48.11%	-0.839%
Zero	0.000%	31	0.63%	0.000%

Average True Range Percentage (ATRP)

Trading Days	Horizon	Average Daily True Range %
5	1 Week	4.54%
20	1 Month	3.33%
60	1 Quarter	2.67%
250	1 Year	2.96%
750	3 Years	2.76%
1,250	5 Years	3.12%
2,500	10 Years	3.09%
5,000	20 Years	3.27%
12,500	50 Years	3.27%

High-to-Low Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 7.23. Further, an Excess Kurtosis of 95.89 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -6.96%	0	0.00%	0.00%
-6.96% to -4.43%	0	0.00%	0.00%
-4.43% to -1.91%	0	0.00%	0.00%
-1.91% to 0.62%	13	0.26%	0.26%
0.62% to 3.15%	3393	68.84%	69.10%
3.15% to 5.68%	1056	21.42%	90.53%
5.68% to 8.21%	243	4.93%	95.46%
8.21% to 10.74%	98	1.99%	97.44%
10.74% to 13.27%	45	0.91%	98.36%
Greater than 13.27%	81	1.64%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-0.22%	6.52%	92.86%	68.27%
±2σ	-3.59%	9.90%	96.86%	95.45%
±3σ	-6.96%	13.27%	98.36%	99.73%

Descriptive Statistics

Mean	3.152%
Standard Error	0.048%
Median	2.290%
Mode	1.232%
Standard Deviation	3.372%
Sample Variance	11.371%
Kurtosis	95.89
Skewness	7.23
Range	76.640%
Minimum	0.434%
Maximum	77.074%
Count	4929

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	3.152%	4929	100.00%	3.152%
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 3.04. Further, an Excess Kurtosis of 61.80 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -8.00%	33	0.67%	0.67%
-8.00% to -6.00%	35	0.71%	1.38%
-6.00% to -3.99%	98	1.99%	3.37%
-3.99% to -1.98%	409	8.30%	11.67%
-1.98% to 0.02%	2003	40.64%	52.30%
0.02% to 2.03%	1754	35.59%	87.89%
2.03% to 4.04%	404	8.20%	96.08%
4.04% to 6.04%	123	2.50%	98.58%
6.04% to 8.05%	33	0.67%	99.25%
Greater than 8.05%	37	0.75%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-2.65%	2.70%	84.70%	68.27%
±2σ	-5.33%	5.37%	96.33%	95.45%
±3σ	-8.00%	8.05%	98.58%	99.73%

Descriptive Statistics

Mean	0.023%
Standard Error	0.038%
Median	-0.059%
Mode	0.000%
Standard Deviation	2.675%
Sample Variance	7.155%
Kurtosis	61.80
Skewness	3.04
Range	71.726%
Minimum	-21.008%
Maximum	50.718%
Count	4929

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	1.640%	2366	48.00%	0.787%
Negative	-1.488%	2532	51.37%	-0.764%
Zero	0.000%	31	0.63%	0.000%

Close-to-Close Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 1.12. Further, an Excess Kurtosis of 15.17 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -19.61%	10	0.98%	0.98%
-19.61% to -14.60%	10	0.98%	1.96%
-14.60% to -9.59%	20	1.96%	3.91%
-9.59% to -4.58%	95	9.30%	13.21%
-4.58% to 0.43%	363	35.52%	48.73%
0.43% to 5.44%	392	38.36%	87.08%
5.44% to 10.45%	93	9.10%	96.18%
10.45% to 15.46%	21	2.05%	98.24%
15.46% to 20.47%	7	0.68%	98.92%
Greater than 20.47%	11	1.08%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-6.25%	7.11%	83.95%	68.27%
±2σ	-12.93%	13.79%	95.50%	95.45%
±3σ	-19.61%	20.47%	97.95%	99.73%

Descriptive Statistics

Mean	0.431%
Standard Error	0.209%
Median	0.585%
Mode	-5.000%
Standard Deviation	6.679%
Sample Variance	44.615%
Kurtosis	15.17
Skewness	1.12
Range	98.007%
Minimum	-35.652%
Maximum	62.355%
Count	1022

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	4.158%	562	54.99%	2.286%
Negative	-4.140%	458	44.81%	-1.855%
Zero	0.000%	2	0.20%	0.000%

Average True Range Percentage (ATRP)

Weeks	Horizon	Average Weekly True Range %
4	1 Month	7.61%
12	1 Quarter	5.74%
52	1 Year	7.06%
156	3 Years	6.49%
260	5 Years	7.31%
520	10 Years	7.25%
1,040	20 Years	7.74%
2,600	50 Years	7.74%

High-to-Low Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 5.11. Further, an Excess Kurtosis of 37.47 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -18.56%	0	0.00%	0.00%
-18.56% to -11.85%	0	0.00%	0.00%
-11.85% to -5.14%	0	0.00%	0.00%
-5.14% to 1.56%	5	0.49%	0.49%
1.56% to 8.27%	711	69.50%	69.99%
8.27% to 14.98%	214	20.92%	90.91%
14.98% to 21.69%	47	4.59%	95.50%
21.69% to 28.40%	12	1.17%	96.68%
28.40% to 35.11%	10	0.98%	97.65%
Greater than 35.11%	24	2.35%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-0.67%	17.22%	93.06%	68.27%
±2σ	-9.62%	26.17%	96.19%	95.45%
±3σ	-18.56%	35.11%	97.65%	99.73%

Descriptive Statistics

Mean	8.274%
Standard Error	0.280%
Median	5.944%
Mode	5.171%
Standard Deviation	8.946%
Sample Variance	80.024%
Kurtosis	37.47
Skewness	5.11
Range	105.326%
Minimum	1.341%
Maximum	106.667%
Count	1023

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	8.274%	1023	100.00%	8.274%
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 1.92. Further, an Excess Kurtosis of 15.86 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -20.20%	9	0.88%	0.88%
-20.20% to -15.10%	2	0.20%	1.08%
-15.10% to -10.01%	19	1.86%	2.93%
-10.01% to -4.91%	102	9.97%	12.90%
-4.91% to 0.18%	425	41.54%	54.45%
0.18% to 5.27%	346	33.82%	88.27%
5.27% to 10.37%	77	7.53%	95.80%
10.37% to 15.46%	20	1.96%	97.75%
15.46% to 20.56%	8	0.78%	98.53%
Greater than 20.56%	15	1.47%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-6.61%	6.97%	85.14%	68.27%
±2σ	-13.40%	13.76%	95.70%	95.45%
±3σ	-20.20%	20.56%	97.65%	99.73%

Descriptive Statistics

Mean	0.180%
Standard Error	0.212%
Median	-0.328%
Mode	-3.560%
Standard Deviation	6.792%
Sample Variance	46.127%
Kurtosis	15.86
Skewness	1.92
Range	95.160%
Minimum	-36.980%
Maximum	58.180%
Count	1023

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	4.512%	483	47.21%	2.130%
Negative	-3.701%	539	52.69%	-1.950%
Zero	0.000%	1	0.10%	0.000%

Close-to-Close Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 5.78. Further, an Excess Kurtosis of 68.63 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -45.19%	1	0.43%	0.43%
-45.19% to -33.43%	3	1.28%	1.70%
-33.43% to -21.67%	1	0.43%	2.13%
-21.67% to -9.91%	17	7.23%	9.36%
-9.91% to 1.85%	95	40.43%	49.79%
1.85% to 13.62%	102	43.40%	93.19%
13.62% to 25.38%	11	4.68%	97.87%
25.38% to 37.14%	4	1.70%	99.57%
37.14% to 48.90%	0	0.00%	99.57%
Greater than 48.90%	1	0.43%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-13.83%	17.54%	90.21%	68.27%
±2σ	-29.51%	33.22%	97.02%	95.45%
±3σ	-45.19%	48.90%	99.15%	99.73%

Descriptive Statistics

Mean	1.855%
Standard Error	1.023%
Median	1.980%
Mode	-47.868%
Standard Deviation	15.682%
Sample Variance	245.929%
Kurtosis	68.63
Skewness	5.78
Range	225.963%
Minimum	-47.868%
Maximum	178.095%
Count	235

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	8.642%	138	58.72%	5.075%
Negative	-7.883%	96	40.85%	-3.220%
Zero	0.000%	1	0.43%	0.000%

Average True Range Percentage (ATRP)

Months	Horizon	Average Monthly True Range %
3	1 Quarter	12.17%
12	1 Year	15.53%
36	3 Years	13.95%
60	5 Years	15.25%
120	10 Years	15.81%
240	20 Years	16.70%
600	50 Years	16.70%

High-to-Low Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 5.95. Further, an Excess Kurtosis of 39.48 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -68.07%	0	0.00%	0.00%
-68.07% to -45.99%	0	0.00%	0.00%
-45.99% to -23.92%	0	0.00%	0.00%
-23.92% to -1.84%	0	0.00%	0.00%
-1.84% to 20.24%	181	76.69%	76.69%
20.24% to 42.32%	42	17.80%	94.49%
42.32% to 64.40%	5	2.12%	96.61%
64.40% to 86.48%	3	1.27%	97.88%
86.48% to 108.56%	1	0.42%	98.31%
Greater than 108.56%	4	1.69%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-9.20%	49.68%	95.34%	68.27%
±2σ	-38.63%	79.12%	97.88%	95.45%
±3σ	-68.07%	108.55%	98.31%	99.73%

Descriptive Statistics

Mean	20.241%
Standard Error	1.916%
Median	13.638%
Mode	10.655%
Standard Deviation	29.438%
Sample Variance	866.622%
Kurtosis	39.48
Skewness	5.95
Range	257.397%
Minimum	3.779%
Maximum	261.176%
Count	236

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	20.241%	236	100.00%	20.241%
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 2.42. Further, an Excess Kurtosis of 16.22 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -41.61%	1	0.42%	0.42%
-41.61% to -31.12%	0	0.00%	0.42%
-31.12% to -20.63%	6	2.54%	2.97%
-20.63% to -10.14%	15	6.36%	9.32%
-10.14% to 0.35%	117	49.58%	58.90%
0.35% to 10.85%	71	30.08%	88.98%
10.85% to 21.34%	15	6.36%	95.34%
21.34% to 31.83%	6	2.54%	97.88%
31.83% to 42.32%	1	0.42%	98.31%
Greater than 42.32%	4	1.69%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-13.64%	14.34%	88.14%	68.27%
±2σ	-27.62%	28.33%	97.46%	95.45%
±3σ	-41.61%	42.32%	97.88%	99.73%

Descriptive Statistics

Mean	0.354%
Standard Error	0.911%
Median	-1.357%
Mode	6.625%
Standard Deviation	13.989%
Sample Variance	195.696%
Kurtosis	16.22
Skewness	2.42
Range	152.358%
Minimum	-64.812%
Maximum	87.546%
Count	236

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	9.685%	104	44.07%	4.268%
Negative	-6.998%	132	55.93%	-3.914%
Zero	0.000%	0	0.00%	0.000%

Close-to-Close Returns

Gram-Charlier Analysis: Data reveals Right Skewed (Positive Asymmetry) with a Skewness factor of 0.69. Further, an Excess Kurtosis of 5.38 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -54.13%	1	1.27%	1.27%
-54.13% to -39.45%	1	1.27%	2.53%
-39.45% to -24.76%	1	1.27%	3.80%
-24.76% to -10.07%	10	12.66%	16.46%
-10.07% to 4.61%	24	30.38%	46.84%
4.61% to 19.30%	28	35.44%	82.28%
19.30% to 33.99%	10	12.66%	94.94%
33.99% to 48.67%	3	3.80%	98.73%
48.67% to 63.36%	0	0.00%	98.73%
Greater than 63.36%	1	1.27%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-14.97%	24.20%	78.48%	68.27%
±2σ	-34.55%	43.78%	94.94%	95.45%
±3σ	-54.13%	63.36%	97.47%	99.73%

Descriptive Statistics

Mean	4.614%
Standard Error	2.203%
Median	5.466%
Mode	-54.248%
Standard Deviation	19.582%
Sample Variance	383.440%
Kurtosis	5.38
Skewness	0.69
Range	147.082%
Minimum	-54.248%
Maximum	92.834%
Count	79

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	14.416%	51	64.56%	9.307%
Negative	-13.239%	28	35.44%	-4.692%
Zero	0.000%	0	0.00%	0.000%

Average True Range Percentage (ATRP)

Quarters	Horizon	Average Quarterly True Range %
4	1 Year	27.48%
12	3 Years	25.42%
20	5 Years	26.03%
40	10 Years	28.22%
80	20 Years	29.06%
200	50 Years	29.06%

High-to-Low Returns

Gram-Charlier Analysis: Data reveals Highly Right Skewed (Extreme Positive Tail Risk) with a Skewness factor of 3.99. Further, an Excess Kurtosis of 15.70 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -146.01%	0	0.00%	0.00%
-146.01% to -98.95%	0	0.00%	0.00%
-98.95% to -51.88%	0	0.00%	0.00%
-51.88% to -4.82%	0	0.00%	0.00%
-4.82% to 42.24%	65	81.25%	81.25%
42.24% to 89.30%	10	12.50%	93.75%
89.30% to 136.36%	1	1.25%	95.00%
136.36% to 183.42%	0	0.00%	95.00%
183.42% to 230.48%	0	0.00%	95.00%
Greater than 230.48%	4	5.00%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-20.51%	104.98%	95.00%	68.27%
±2σ	-83.26%	167.73%	95.00%	95.45%
±3σ	-146.01%	230.48%	95.00%	99.73%

Descriptive Statistics

Mean	42.237%
Standard Error	7.015%
Median	26.356%
Mode	9.881%
Standard Deviation	62.748%
Sample Variance	3937.308%
Kurtosis	15.70
Skewness	3.99
Range	343.910%
Minimum	9.881%
Maximum	353.791%
Count	80

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	42.237%	80	100.00%	42.237%
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 2.64. Further, an Excess Kurtosis of 11.51 proves the distribution possesses Extreme Fat Tails (Frequent Outliers, Leptokurtic).

Bin Distribution Over Raw Range

Bin / Range	Frequency	Prob	Cum. Prob
Less than -66.97%	0	0.00%	0.00%
-66.97% to -50.23%	0	0.00%	0.00%
-50.23% to -33.48%	1	1.25%	1.25%
-33.48% to -16.73%	10	12.50%	13.75%
-16.73% to 0.02%	39	48.75%	62.50%
0.02% to 16.76%	19	23.75%	86.25%
16.76% to 33.51%	8	10.00%	96.25%
33.51% to 50.26%	1	1.25%	97.50%
50.26% to 67.01%	0	0.00%	97.50%
Greater than 67.01%	2	2.50%	100.00%

Standard Deviation Interval Analysis

SD	Lower Bnd	Upper Bnd	Actual %	Normal %
±1σ	-22.31%	22.35%	85.00%	68.27%
±2σ	-44.64%	44.68%	96.25%	95.45%
±3σ	-66.97%	67.01%	97.50%	99.73%

Descriptive Statistics

Mean	0.016%
Standard Error	2.497%
Median	-3.888%
Mode	-49.315%
Standard Deviation	22.330%
Sample Variance	498.618%
Kurtosis	11.51
Skewness	2.64
Range	165.432%
Minimum	-49.315%
Maximum	116.117%
Count	80

Frequency Breakdown

Category	Avg Return	Count	Probability	Freq Adj Return
Positive	18.450%	30	37.50%	6.919%
Negative	-11.044%	50	62.50%	-6.902%
Zero	0.000%	0	0.00%	0.000%

TNL Deep Analytical Report