Partial Correlation Network Graph VBA ( DJINDI )

113
From 31-Oct-07 To 28-Feb-09 Data From 31-Oct-07 to 28-Feb-09 ( Blue cells can be changed ) Avg Min Pearson Correlation ### -0.257 Shrinkage Correlation ### ### Partial Correlation ### ### Threshold Filter 0.32 ( Blue cells can be changed ) Min Pearson Correlation JPM Shrinkage Correlation ### Partial Correlation ### Most Connected ### N+1 OR N -- > AM1 ???? NOTE STILL SOME ERRORS IN DATA LABELIN CHECK BACK LATER FOR UPDATED VERSION -1.2 -0.8 -0.4 0.0 0.4 0.8 1.2 Data From 31-Oct-07 to 28-Feb-09 Upade Chart Labels

Transcript of Partial Correlation Network Graph VBA ( DJINDI )

Page 1: Partial Correlation Network Graph VBA ( DJINDI )

From 31-Oct-07To 28-Feb-09

Data From 31-Oct-07 to 28-Feb-09( Blue cells can be changed )

Avg Min MaxPearson Correlation ### ### ###Shrinkage Correlation ### ### ###Partial Correlation ### ### ###

Threshold Filter 0.32( Blue cells can be changed )

Min MaxPearson Correlation JPM DISShrinkage Correlation ### ###Partial Correlation ### ###Most Connected ### ###

N+1 OR N -- > AM1 ????

NOTE STILL SOME ERRORS IN DATA LABELINGCHECK BACK LATER FOR UPDATED VERSION

0.8 1.2-1.2

-0.8

-0.4

0.0

0.4

0.8

1.2Data From 31-Oct-07 to 28-Feb-09 Upade Chart Labels

Page 2: Partial Correlation Network Graph VBA ( DJINDI )

Ticker Name A B CBA BoeingAA Alcoa AluminumBAC Bank of America BankingJPM JPMorgan Chase BankingTRV Travelers InsuranceAXP American Express Consumer financePG Procter & Gamble Consumer goodsWMT Wal-Mart RetailMCD McDonald's Fast foodHD The Home DepotKO Coca-Cola BeveragesDIS Walt DisneyDD DuPont Chemical industryCSCO Cisco Systems Computer networkingHPQ Hewlett-PackardIBM IBMINTC Intel SemiconductorsMSFT Microsoft SoftwareT AT&T TelecommunicationVZ Verizon TelecommunicationMMM 3M ConglomerateGE General Electric ConglomerateUTX United Technologies Corporation ConglomerateCAT CaterpillarCVX Chevron Corporation Oil & gasXOM ExxonMobil Oil & gasUNH UnitedHealth Group Managed health careJNJ Johnson & Johnson PharmaceuticalsMRK Merck PharmaceuticalsPFE Pfizer Pharmaceuticals^GSPC S&P500

Aerospace and defense

Home improvement retailer

Broadcasting and entertainment

Computers and technologyComputers and technology

Construction and mining equipment

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D

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1 Ticker BA 31 12 Start Year 1991 157 23 Start Month 1 34 Start Day 1 45 End Year 2012 56 End Month 12 67 End Day 31 78 Period m 89 Items DC 9

10 Names 1 1011 Adjust 1 1112 Sort Order 0 Ticker BA 12

Name Boeing 13A 14B 0 15

#VALUE! #VALUE! C 0 161 #VALUE! #VALUE! #VALUE! #VALUE! 172 #VALUE! #VALUE! #VALUE! #VALUE! 183 #VALUE! #VALUE! #VALUE! #VALUE! 194 #VALUE! #VALUE! #VALUE! #VALUE! 205 #VALUE! #VALUE! #VALUE! #VALUE! 216 #VALUE! #VALUE! #VALUE! #VALUE! 227 #VALUE! #VALUE! #VALUE! #VALUE! 238 #VALUE! #VALUE! #VALUE! #VALUE! 249 #VALUE! #VALUE! #VALUE! #VALUE! 25

10 #VALUE! #VALUE! #VALUE! #VALUE! 2611 #VALUE! #VALUE! #VALUE! #VALUE! 2712 #VALUE! #VALUE! #VALUE! #VALUE! 2813 #VALUE! #VALUE! #VALUE! #VALUE! 2914 #VALUE! #VALUE! #VALUE! #VALUE! 3015 #VALUE! #VALUE! #VALUE! #VALUE! 3116 #VALUE! #VALUE! #VALUE! #VALUE!17 #VALUE! #VALUE! #VALUE! #VALUE!18 #VALUE! #VALUE! #VALUE! #VALUE!19 #VALUE! #VALUE! #VALUE! #VALUE!20 #VALUE! #VALUE! #VALUE! #VALUE!21 #VALUE! #VALUE! #VALUE! #VALUE!22 #VALUE! #VALUE! #VALUE! #VALUE!23 #VALUE! #VALUE! #VALUE! #VALUE!24 #VALUE! #VALUE! #VALUE! #VALUE!25 #VALUE! #VALUE! #VALUE! #VALUE!26 #VALUE! #VALUE! #VALUE! #VALUE!27 #VALUE! #VALUE! #VALUE! #VALUE!28 #VALUE! #VALUE! #VALUE! #VALUE!29 #VALUE! #VALUE! #VALUE! #VALUE!30 #VALUE! #VALUE! #VALUE! #VALUE!31 #VALUE! #VALUE! #VALUE! #VALUE!32 #VALUE! #VALUE! #VALUE! #VALUE!33 #VALUE! #VALUE! #VALUE! #VALUE!34 #VALUE! #VALUE! #VALUE! #VALUE!35 #VALUE! #VALUE! #VALUE! #VALUE!36 #VALUE! #VALUE! #VALUE! #VALUE!37 #VALUE! #VALUE! #VALUE! #VALUE!

Aerospace and defense

A2
Peter Urbani: You can cycle by changing this index number
C2
Peter Urbani: Or by entering a Ticker Code here - remember to replace with =INDEX(Dbase,$A$2,MATCH(B2,Headers,0)) when done or multi-run will not work
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Ticker Name A BBA Boeing 0.00AA Alcoa Alum 0.00BAC Bank of America Bank 0.00JPM JPMorgan Chase Bank 0.00TRV Travelers Insur 0.00AXP American Express Consu 0.00PG Procter & Gamble Cons 0.00WMT Wal-Mart Retai 0.00MCD McDonald's Fast 0.00HD The Home Depot 0.00KO Coca-Cola Beve 0.00DIS Walt Disney 0.00DD DuPont Chemi 0.00CSCO Cisco Systems Compu 0.00HPQ Hewlett-Packard 0.00IBM IBM 0.00INTC Intel Semi 0.00MSFT Microsoft Softw 0.00T AT&T Telec 0.00VZ Verizon Telec 0.00MMM 3M Cong 0.00GE General Electric Cong 0.00UTX United Technologies Corporation Cong 0.00CAT Caterpillar 0.00CVX Chevron Corporation Oil & 0.00XOM ExxonMobil Oil & 0.00UNH UnitedHealth Group Manag 0.00JNJ Johnson & Johnson Pharm 0.00MRK Merck Pharm 0.00PFE Pfizer Pharm 0.00^GSPC S&P500 0 0.00

Aerospace and defense

Home improvement retailer

Broadcasting and entertainment

Computers and technologyComputers and technology

Construction and mining equipment

Page 10: Partial Correlation Network Graph VBA ( DJINDI )

C 12/31/2012 11/30/2012 10/31/2012 9/30/2012 8/31/2012 7/31/2012 6/30/201212/30/1899 74.65 74.28 70.01 69.17 70.96 73.02 73.4112/30/1899 8.75 8.41 8.57 8.83 8.53 8.41 8.6912/30/1899 11 9.85 9.31 8.82 7.97 7.32 8.1612/30/1899 43.48 41.08 41.68 40.18 36.87 35.74 35.1712/30/1899 74.19 70.38 70.5 67.84 63.88 61.82 62.9912/30/1899 57.27 55.9 55.97 56.66 58.1 57.51 57.8112/30/1899 69.93 69.83 69.24 68.8 66.64 64.01 60.2312/30/1899 69.2 71.62 74.61 73.39 72.2 73.62 68.9612/30/1899 89.91 87.04 86.03 90.93 88.69 87.87 87.0612/30/1899 63.31 65.07 61.1 60.1 56.5 51.68 52.4812/30/1899 37.5 37.92 36.93 37.67 36.89 39.85 38.5712/30/1899 49.28 48.91 48.38 51.49 48.72 48.4 47.7712/30/1899 44.63 43.14 44.08 49.77 49.25 48.79 49.6412/30/1899 20.11 18.91 17.02 18.82 18.8 15.72 16.8412/30/1899 14.21 12.87 13.72 16.9 16.59 17.93 19.7712/30/1899 193.62 190.07 193.68 206.55 194 194.3 193.912/30/1899 20.57 19.57 21.41 22.43 24.58 25.22 26.1512/30/1899 27.1 26.62 28.31 29.52 30.57 29.04 30.1412/30/1899 34.23 34.13 34.59 37.27 36.22 37.48 34.8212/30/1899 44.12 44.12 44.64 45.07 42.47 44.65 43.4712/30/1899 93.03 90.95 87.02 91.81 91.99 90.06 88.4512/30/1899 21.93 21.13 21.06 22.71 20.55 20.59 20.6812/30/1899 79.99 80.11 77.62 77.75 79.3 73.41 74.4912/30/1899 89.64 85.24 84.81 85.52 84.82 83.7 83.8612/30/1899 108.68 105.69 109.3 115.56 111.2 107.78 103.7712/30/1899 88.87 88.14 90.6 90.88 86.76 85.75 84.4912/30/1899 54.36 54.17 55.78 55.19 53.87 50.68 58.0312/30/1899 70.94 69.73 70.2 68.31 66.84 68 66.3612/30/1899 43.63 43.88 45.2 44.67 42.24 43.34 40.9612/30/1899 25.36 25.02 24.65 24.63 23.65 23.61 22.5912/30/1899 1430.36 1416.18 1412.16 1440.67 1406.58 1379.32 1362.16

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5/31/2012 4/30/2012 3/31/2012 2/29/2012 1/31/2012 12/31/2011 11/30/2011 10/31/201168.77 75.43 73.05 73.62 72.43 71.62 67.07 63.83

8.49 9.63 9.92 10.07 10.03 8.54 9.89 10.597.33 8.08 9.54 7.94 7.1 5.53 5.41 6.78

32.63 42.31 44.97 38.38 36.48 32.29 30.07 33.7561.19 62.98 57.97 56.36 56.68 57.52 54.28 56.3155.45 59.8 57.26 52.35 49.62 46.51 47.37 49.9161.25 62.58 65.53 65.93 61.47 64.53 62.46 61.9

65.1 57.88 60.13 57.66 59.88 58.32 57.13 55.0187.85 95.08 95.72 96.87 95.97 97.21 92.55 89.2948.87 50.99 49.54 46.55 43.44 41.14 38.38 34.7636.61 37.39 36.26 33.98 32.84 34.03 32.7 32.9945.02 42.46 43.12 41.35 38.31 36.93 34.72 33.7947.38 52.05 51.5 49.51 49.15 44.21 46.09 46.0216.02 19.77 20.66 19.42 19.2 17.61 18.15 18.0422.16 24.2 23.29 24.61 27.21 25.05 27.06 25.76

191.24 204.44 205.99 194.23 189.41 180.84 184.89 180.8525.35 27.67 27.39 26.18 25.53 23.44 24.07 23.5128.76 31.34 31.58 31.07 28.72 25.25 24.88 25.733.36 32.13 30.07 29.45 28.31 28.69 27.5 27.8140.73 39.5 36.91 36.79 36.35 38.23 35.95 35.2483.32 87.6 87.46 85.88 84.43 79.59 78.91 76.4118.79 19.27 19.75 18.75 18.25 17.47 15.37 16.1473.09 80.01 81.28 82.19 76.35 71.22 74.64 75.5386.54 101.5 104.77 112.33 107.32 88.71 95.84 92.49

96.7 103.88 104.51 106.37 99.76 102.93 99.47 100.8377.64 84.67 85.05 84.82 81.67 82.66 78.45 75.7155.12 55.5 58.25 54.94 51.04 49.94 47.9 47.1361.33 63.33 64.17 63.31 63.56 63.24 62.41 61.5236.47 38.08 37.27 36.64 36.73 36.19 33.91 32.7221.48 22.27 22.02 20.55 20.6 20.83 19.32 18.35

1310.33 1397.91 1408.47 1365.68 1312.41 1257.6 1246.96 1253.3

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9/30/2011 8/31/2011 7/31/2011 6/30/2011 5/31/2011 4/30/2011 3/31/2011 2/28/201158.71 64.87 67.91 71.25 75.2 76.48 70.87 69.03

9.42 12.59 14.46 15.57 16.51 16.66 17.31 16.526.08 8.11 9.63 10.87 11.65 12.17 13.21 14.15

28.99 36.16 38.94 39.17 41.37 43.65 43.87 44.4347.02 48.28 52.75 55.86 59 60.14 56.53 56.6144.09 48.81 49.14 50.77 50.48 48.02 44.05 42.4660.62 61.1 59 60.5 63.77 61.77 58.14 59.5150.34 51.59 50.75 51.17 53.17 52.59 49.79 49.3884.46 86.95 82.61 80.54 77.89 74.25 72.14 71.7631.92 32.41 33.67 34.91 34.71 35.54 35.45 35.632.62 33.78 32.61 32.27 31.81 32.12 31.59 30.2129.21 32.99 37.41 37.81 40.32 41.75 41.74 42.3738.27 46.22 48.78 51.28 50.57 53.48 51.77 51.6715.03 15.2 15.49 15.08 16.23 16.93 16.57 17.8721.74 25.07 33.87 35.05 35.88 38.75 39.32 41.79

171.29 168.39 177.35 167.31 164.75 165.62 158.33 157.1720.44 19.28 21.18 21.02 21.35 21.79 18.99 20.2124.02 25.68 26.28 24.94 23.99 24.7 24.19 25.3326.65 26.61 27.34 28.95 29.09 28.68 27.82 25.7934.59 33.99 33.17 34.54 34.26 35.05 35.3 33.8269.42 80.24 83.69 91.1 90.65 92.82 89.28 88.06

14.7 15.61 17.14 18.05 18.64 19.41 19.03 19.8568.15 71.92 79.7 85.16 84.45 85.72 81 79.94

71.9 88.61 96.2 103.23 102.59 111.91 107.52 99.3988.87 94.87 99.05 97.92 99.89 103.41 101.56 98.0370.41 71.76 76.85 78.38 80.39 84.26 80.57 81.91

45.3 46.51 48.58 50.48 47.75 48.02 44.09 41.4260.85 62.87 61.36 63 63.72 61.7 55.63 57.6831.01 31.02 31.99 33.07 34.07 33.33 30.61 29.8516.85 18.08 18.14 19.41 20.21 19.57 18.95 17.96

1131.42 1218.89 1292.28 1320.64 1345.2 1363.61 1325.83 1327.22

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1/31/2011 12/31/2010 11/30/2010 10/31/2010 9/30/2010 8/31/2010 7/31/2010 6/30/201066.22 62.2 60.78 66.92 63.04 57.91 64.17 59.0916.21 15.06 12.85 12.83 11.82 9.98 10.88 9.8

13.6 13.21 10.84 11.33 12.96 12.32 13.88 14.2142.76 40.32 35.55 35.77 36.13 34.51 38.24 34.753.14 52.63 50.67 51.8 48.89 45.64 47 45.8942.27 41.65 41.95 40.24 40.6 38.51 43.12 38.3559.59 60.27 57.22 59.56 55.76 55.48 56.87 55.3453.26 51.23 51.1 51.17 50.56 47.37 48.08 45.1569.28 72.19 73.64 72.57 69.53 68.18 64.59 61.0134.94 33.31 28.7 29.13 29.87 26.23 26.65 26.2429.71 31.09 29.86 28.79 27.47 26.03 25.68 23.3537.65 36.33 34.98 34.62 31.71 31.18 32.28 30.1847.37 46.62 43.92 43.81 41.34 37.78 37.32 31.7420.37 19.48 18.45 22.01 21.09 19.25 22.21 20.5243.77 40.33 40.09 40.2 40.22 36.69 43.93 41.29

156.67 141.93 136.8 138.26 129.15 118.55 123.02 118.320.03 19.63 19.75 18.57 17.78 16.36 18.93 17.8826.27 26.44 23.93 25.11 23.06 22.1 24.17 21.5525.01 26.32 24.89 25.55 25.25 23.87 22.9 20.9932.63 32.35 28.94 29.36 29.04 26.31 25.89 24.5283.45 81.91 79.71 79.44 81.79 74.09 80.18 74.0418.98 17.24 14.8 14.98 15.2 13.44 14.96 13.3977.41 74.95 71.66 70.78 67.43 61.73 66.9 61.0893.68 90.02 81.31 75.54 75.21 62.28 66.67 57.0489.03 85.58 75.93 76.81 75.36 68.88 70.21 62.5276.86 69.66 66.27 62.95 58.5 55.96 56.1 53.6539.93 35.12 35.41 34.95 34.04 30.64 29.41 27.4355.61 57.55 57.27 58.8 57.16 52.6 53.09 53.97

30.4 33.03 31.26 32.92 33.38 31.55 30.92 31.3816.83 16.17 15.05 15.92 15.7 14.54 13.56 12.89

1286.12 1257.64 1180.55 1183.26 1141.2 1049.33 1101.6 1030.71

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5/31/2010 4/30/2010 3/31/2010 2/28/2010 1/31/2010 12/31/2009 11/30/2009 10/31/200960.44 67.81 67.98 59.13 56.35 50.33 48.74 44.0611.33 13.05 13.83 12.92 12.34 15.62 12.14 12.0115.55 17.62 17.64 16.45 14.99 14.87 15.64 14.3937.52 40.36 42.37 39.74 36.87 39.41 40.18 39.545.75 46.92 49.88 48.33 46.57 45.83 47.84 45.4638.34 44.35 39.68 36.56 36.06 38.63 39.88 33.2156.36 57.35 57.93 57.94 56.35 55.11 56.68 52.7247.49 50.09 51.92 50.21 49.61 49.63 50.4 45.961.94 64.84 61.28 58.65 56.86 56.87 57.61 52.9231.44 32.71 30.03 28.75 25.81 26.66 25.01 22.9323.75 24.69 25.41 24.16 24.86 26.12 26.21 24.2632.02 35.3 33.45 29.93 28.31 30.9 28.62 25.9333.19 36.16 33.8 30.61 29.23 30.18 31 28.19

22.3 25.93 25.07 23.43 21.64 23.05 22.53 21.9643.83 49.5 50.63 48.3 44.77 48.99 46.58 45.07

120.01 122.96 122.24 121.21 116.14 124.22 119.9 113.9419.69 20.85 20.34 18.74 17.57 18.47 17.38 17.1724.16 28.47 27.31 26.73 26.15 28.29 27.29 25.6221.09 22.61 22.06 21.19 21.65 23.58 22.66 21.624.08 25.29 26.73 24.93 25.35 28.14 26.72 25.1374.34 82.59 77.84 74.66 74.48 76.5 71.66 67.6415.08 17.4 16.79 14.81 14.74 13.87 14.59 12.99

63.4 70.11 68.86 64.22 62.72 64.51 62.5 56.857.69 64.65 59.31 53.84 49.3 53.41 54.73 51.6168.05 74.33 69.21 65.99 65.2 69.6 70.55 68.5956.83 63.27 62.54 60.69 59.77 63.25 69.63 66.127.96 29.16 31.4 32.54 31.71 29.29 27.55 24.9453.28 58.23 59.05 57.05 56.5 57.89 56.48 52.65

29.9 31.1 33.15 32.39 33.53 32.09 31.48 26.8913.77 14.96 15.34 15.7 16.54 16.12 16.1 14.95

1089.41 1186.69 1169.43 1104.49 1073.87 1115.1 1095.63 1036.19

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9/30/2009 8/31/2009 7/31/2009 6/30/2009 5/31/2009 4/30/2009 3/31/2009 2/28/200949.91 45.78 39.18 38.8 40.95 36.21 32.17 28.4312.69 11.65 11.34 9.97 8.89 8.72 7.06 5.99

16.7 17.35 14.59 13.02 11.11 8.8 6.72 3.8841.39 41.05 36.51 32.17 34.8 31.13 25.03 21.5144.95 45.76 39.09 37.25 36.65 37.08 36.63 32.332.32 32.07 26.86 22.04 23.39 23.74 12.66 11.252.25 48.81 50.08 45.73 46.49 44.25 41.78 42.7445.35 47 45.83 44.51 45.7 46.06 47.62 44.7551.53 50.78 49.28 51.46 52.37 47.31 48.44 46.3924.35 24.74 23.51 21.42 20.8 23.64 21.16 18.5324.43 22.01 22.49 21.66 22 19.27 19.67 18.0926.01 24.67 23.79 22.1 22.94 20.74 17.2 15.8828.47 28.28 27.06 22.41 24.9 24.05 19.25 16.1722.67 20.8 21.19 17.96 17.81 18.6 16.15 14.0344.83 42.55 41.04 36.64 32.49 34.03 30.32 27.38

112.99 111.52 110.89 98.19 99.94 96.54 90.63 86.0917.58 18.26 17.17 14.76 14.02 13.96 13.29 11.2723.76 22.77 21.61 21.84 19.19 18.5 16.77 14.7422.38 21.58 21.73 20.24 20.19 20.87 20.21 19.0725.31 25.95 26.81 25.29 24.08 24.97 24.51 23.1667.85 66.29 64.37 54.85 52.12 52.12 44.99 41.1314.96 12.59 12.13 10.61 12.11 11.36 9.08 7.6456.32 54.87 50.01 47.7 48.3 44.51 39.17 37.2147.76 42.16 41 30.36 32.59 32.7 25.37 22.3363.12 62.68 61.64 58.78 59.16 58.09 59.09 53.3563.27 63.77 64.52 64.08 63.57 60.75 62.05 61.8724.06 26.91 26.97 24.01 25.56 22.6 20.11 18.86

54.3 53.89 53.86 50.24 48.79 45.91 46.12 43.8427.5 27.86 25.78 24.02 23.37 20.54 22.66 20.16

14.53 14.66 13.84 13.04 13.2 11.48 11.7 10.581057.08 1020.62 987.48 919.32 919.14 872.81 797.87 735.09

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1/31/2009 12/31/2008 11/30/2008 10/31/2008 9/30/2008 8/31/2008 7/31/2008 6/30/200837.87 38.19 38.16 46.57 50.95 58.24 53.96 58.03

7.33 10.6 10.13 10.68 20.97 29.84 31.18 32.96.47 13.84 15.61 23.22 33.63 29.33 30.99 22.49

24.02 29.33 29.45 38.37 43.11 35.53 37.5 31.3234.52 40.38 38.73 37.75 40.1 38.91 38.87 38.2415.54 17.08 21.46 25.32 32.46 36.35 34.01 34.3648.36 54.47 56.7 56.87 61.02 61.09 57.33 52.9142.82 50.95 50.57 50.5 54.19 53.45 52.83 50.6551.03 54.7 51.68 50.51 53.79 54.05 51.81 48.72

19.1 20.42 20.28 20.7 22.72 23.6 20.74 20.3818.92 20.05 20.75 19.35 23.22 22.7 22.45 22.6619.59 21.49 21.02 24.18 28.64 30.19 28.32 29.1219.45 21.43 21.23 26.75 33.65 37.11 36.25 35.4914.42 15.7 15.93 17.11 21.72 23.16 21.17 22.432.77 34.22 33.2 36.02 43.51 44.07 42.08 41.5385.27 78.3 75.92 86.01 108.21 112.62 117.95 109.2411.29 12.84 12.08 13.91 16.26 19.85 19.14 18.5315.51 17.63 18.33 20.11 24.04 24.58 23.07 24.6819.75 22.53 22.58 21.16 21.73 24.89 23.98 25.924.24 27.12 26.12 23.73 25.26 27.65 26.8 27.5348.15 51.5 59.91 57.09 60.65 63.57 62.06 61.3610.58 14.13 14.7 16.7 21.83 23.73 23.89 22.5443.37 48.44 43.86 49.3 53.87 58.83 57.11 55.0827.99 40.1 36.79 34.29 52.96 62.85 61.78 65.2161.41 64.41 68.8 64.4 71.21 74.52 72.45 84.9469.34 72.38 72.67 66.81 70.01 72.12 72.13 79.0427.19 25.53 20.16 22.77 24.37 29.22 26.95 25.1950.16 52.03 50.94 52.9 59.75 60.74 58.67 55.1323.79 25.33 21.95 25.42 25.92 28.98 26.73 30.6212.27 14.9 13.82 14.64 15.24 15.8 15.18 14.21

825.88 903.25 896.24 968.75 1166.36 1282.83 1267.38 1280

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5/31/2008 4/30/2008 3/31/2008 2/29/2008 1/31/2008 12/31/2007 11/30/2007 10/31/200773.08 74.58 65.36 72.76 72.75 76.49 80.93 85.9137.49 32.13 33.15 34.14 30.26 33.42 33.26 36.231.42 34.68 35.02 36.11 40.12 37.49 41.32 43.2439.25 43.5 38.89 36.81 42.92 39.18 40.95 42.1943.63 44.14 41.91 40.4 41.87 46.83 45.98 45.2142.28 43.8 39.72 38.43 44.64 47.1 53.4 55.1957.47 58.34 60.62 57.25 56.6 63.2 63.7 59.8452.04 52.04 47.28 44.29 45.32 42.45 42.59 40.251.07 51.3 48.02 46.59 45.82 50.38 50 49.7823.62 24.86 24.14 22.71 26.21 23.04 24.43 26.73

24.8 25.5 26.36 25.16 25.39 26.41 26.73 26.4431.36 30.26 29.28 30.25 27.85 30.12 30.61 31.9739.65 40.14 38.37 38.1 36.76 35.87 37.54 39.9225.73 24.69 23.2 23.49 23.59 26.07 26.98 31.8344.13 43.46 42.82 44.72 40.93 47.26 47.82 48.3

119.28 110.78 105.68 104.51 97.94 98.84 96.17 105.820 19.09 18.16 17.12 17.98 22.72 22.23 22.83

25.4 25.49 25.37 24.31 29.02 31.69 29.91 32.6630.67 29.75 29.14 26.5 29.28 31.31 28.79 31.4929.92 29.92 27.89 27.79 29.71 33.1 32.73 34.968.38 67.36 69.33 68.68 69.34 73.4 72.48 74.7425.66 27.31 30.91 27.68 29.27 30.69 31.43 33.7863.42 64.42 61.17 62.67 64.84 67.74 66.17 67.49

73 72.33 68.84 63.6 62.42 63.45 62.87 65.2484.95 81.84 72.65 73.76 70.35 78.87 74.17 76.8179.61 83.1 75.52 77.69 76.19 83.29 79.27 81.4732.83 31.31 32.97 44.56 48.75 55.8 52.73 47.1257.18 57.08 55.19 52.72 53.37 56.38 57.26 54.7431.34 30.6 30.53 35.32 36.76 46.34 47.02 46.1515.74 16.1 16.75 17.83 18.44 17.94 18.75 19.19

1400.38 1385.59 1322.7 1330.63 1378.55 1468.36 1481.14 1549.38

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9/30/2007 8/31/2007 7/31/2007 6/30/2007 5/31/2007 4/30/2007 3/31/2007 2/28/200791.49 84.27 89.83 83.51 87.36 80.47 76.93 75.535.62 33.26 34.62 36.74 37.42 32.01 30.58 30.1345.02 44.82 41.94 43.24 44.85 44.52 44.63 44.46

40.8 39.64 39.18 42.8 45.79 46.03 42.44 43.3343.59 43.51 43.71 46.06 46.39 46.33 44.33 43.2453.62 52.95 52.87 55.12 58.55 54.66 50.68 51.160.25 55.94 52.99 52.12 54.13 54.85 53.5 53.7838.81 38.8 40.65 42.56 42.11 42.2 41.35 42.3445.39 41.04 39.89 42.29 42.12 40.23 37.54 36.427.52 32.5 31.33 33.17 32.58 31.74 30.79 32.99

24.6 22.88 22.17 22.25 22.39 22.06 20.28 19.5931.75 31.02 30.47 31.52 32.27 31.85 31.35 31.1839.97 39.31 37.4 40.69 41.87 39.06 39.27 40.3

31.9 30.74 27.84 26.82 25.92 25.75 24.58 24.9846.54 46.05 42.95 41.64 42.58 39.25 37.39 36.58

107.33 106.32 100.46 95.56 96.78 92.44 85.25 84.0521.95 21.85 19.95 20.05 18.74 18.07 16.08 16.6926.14 25.49 25.64 26.06 27.14 26.39 24.57 24.8331.61 29.78 29.25 30.73 30.61 28.67 28.94 27.0133.23 31.42 31.98 30.59 32.35 28.37 27.88 27.580.98 78.74 76.53 74.7 75.71 70.84 65.42 63.4133.98 31.69 31.6 31.21 30.42 29.84 28.62 28.2670.92 65.76 64.02 62.23 61.9 58.67 56.81 57.3768.26 65.94 68.58 67.86 68.1 62.94 57.84 55.678.55 73.67 71.06 70.21 67.92 64.37 61.2 56.781.97 75.92 75.09 73.99 73.36 69.72 66.27 62.9546.43 47.95 46.43 49.03 52.51 50.87 50.79 5055.19 51.9 50.48 51.41 52.79 53.24 49.95 52.1740.95 39.44 39.03 39.15 40.93 40.14 34.47 34.1619.05 19.37 18.11 19.7 21.18 20.17 19.26 19.03

1526.75 1473.99 1455.27 1503.35 1530.62 1482.37 1420.86 1406.82

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1/31/2007 12/31/2006 11/30/2006 10/31/2006 9/30/2006 8/31/2006 7/31/2006 6/30/200677.19 76.57 76.31 68.59 67.72 64.33 66.24 70.0829.13 26.93 27.83 25.68 24.9 25.39 26.46 28.5945.49 46.19 46.59 46.12 45.86 44.07 43.65 40.7444.68 42.07 40.31 41.32 40.61 39.49 39.46 36.0343.33 45.74 43.92 43.35 39.75 37 38.6 37.5752.32 54.38 52.63 51.82 50.13 46.97 46.54 47.4454.95 54.18 52.93 53.44 51.99 51.92 47.14 46.38

41.8 40.47 40.26 43.03 43.07 39.05 38.71 41.9136.95 36.94 34.97 34.1 31.82 29.2 28.79 27.3333.95 33.47 31.64 30.92 30.04 28.28 28.63 29.5220.09 20.25 19.65 19.47 18.62 18.55 18.42 17.8132.02 31.2 29.82 28.39 27.89 26.75 26.79 27.0739.09 38.42 37.01 35.84 33.52 31.28 30.74 32.2525.63 26.32 25.91 23.24 22.13 21.17 17.22 18.8140.24 38.29 36.61 35.94 34.04 33.84 29.54 29.33

89.4 87.6 82.88 82.98 73.64 72.77 69.3 68.7717.52 16.93 17.89 17.75 17.11 16.28 14.89 15.7227.11 26.23 25.79 25.13 23.94 22.5 20.98 20.3227.62 25.96 24.63 24.87 23.4 22.38 21.56 19.8128.32 27.08 25.41 25.93 25.74 24.39 23.45 22.93

63.2 66.28 69.28 66.68 62.94 60.64 59.16 67.8728.95 29.88 28.13 27.99 28.14 26.96 25.87 26.0959.21 54.42 56.17 56.98 54.92 54.37 53.68 54.7555.29 52.66 53.26 52.13 56.25 56.72 60.59 63.459.88 60.41 59.42 54.8 52.89 52.52 53.23 50.22

64.8 67.02 67.17 62.19 58.43 58.93 58.71 53.1850.08 51.49 47.03 46.74 47.15 49.78 45.83 42.9155.05 54.41 54.32 55.24 53.22 52.99 50.97 48.8234.62 33.73 34.15 34.85 32.15 31.11 30.61 27.6919.79 19.53 20.73 19.92 21.2 20.6 19.25 17.38

1438.24 1418.3 1400.63 1377.94 1335.85 1303.82 1276.66 1270.2

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5/31/2006 4/30/2006 3/31/2006 2/28/2006 1/31/2006 12/31/2005 11/30/2005 10/31/200571.23 71.15 66.45 61.98 58 59.64 57.9 54.6828.03 29.72 26.88 25.79 27.58 25.89 24 21.1440.99 41.85 38.18 38.02 36.67 38.27 38.05 35.8836.58 38.93 35.43 35.01 33.82 33.49 32.27 30.936.87 36.88 35.01 35.81 37.81 37.22 38.57 37.3348.46 47.97 46.74 47.92 46.65 45.67 45.63 44.1745.25 48.56 47.81 49.72 49.14 47.79 47.22 46.2342.15 39.04 40.95 39.18 39.83 40.42 41.81 40.7426.98 28.12 27.95 28.39 28.48 27.43 27.53 25.1931.31 32.8 34.75 34.5 33.19 33.13 34.2 33.5118.09 17.24 17.21 17.12 16.88 16.45 17.42 17.3427.52 25.23 25.17 25.26 22.84 21.63 22.26 21.7632.97 33.91 32.46 30.94 29.83 32.38 32.57 31.4818.95 20.17 20.87 19.49 17.88 16.49 16.89 16.8

29.9 29.98 30.38 30.22 28.72 26.37 27.25 25.7671.53 73.44 73.56 71.57 72.33 73.14 79.1 72.6814.91 16.44 16.01 16.95 17.41 20.44 21.85 19.1819.75 20.98 23.64 23.34 24.37 22.64 23.97 22.1918.51 18.61 18.97 19.35 18.2 16.95 17.24 16.5121.37 22.62 23.05 22.81 21.43 20.12 21.37 21.05

70.3 71.4 63.26 61.51 60.42 64.37 65.18 62.7726.92 27.18 27.32 25.82 25.54 27.33 27.66 26.2653.97 54 49.84 50.29 49.99 47.88 46.11 43.7462.09 64.47 60.93 62.01 57.61 48.82 48.83 44.4448.38 48.96 46.51 45.31 47.26 45.18 45.61 45.0652.79 54.4 52.49 51.2 53.83 48.19 49.78 47.9242.13 47.66 53.53 55.77 56.91 59.52 57.33 55.4449.07 47.46 47.96 46.68 46.33 48.39 49.72 50.1625.31 25.87 26.47 25.91 25.64 23.64 21.85 20.7117.52 18.58 18.28 19.21 18.66 16.94 15.4 15.66

1270.09 1310.61 1294.87 1280.66 1280.08 1248.29 1249.48 1207.01

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9/30/2005 8/31/2005 7/31/2005 6/30/2005 5/31/2005 4/30/2005 3/31/2005 2/28/200557.48 56.69 55.63 55.62 53.85 49.95 49.06 46.1321.25 23.31 24.28 22.62 23.46 24.99 26.17 27.6634.53 35.3 35.35 36.98 37.19 36.16 35.41 37.128.34 28.31 29.35 29.22 29.57 29.36 28.34 29.9437.19 35.46 36.3 32.59 31.05 29.34 30.1 31.4144.51 42.81 42.62 41.25 41.64 40.75 39.72 41.7748.84 45.57 45.7 43.11 45.07 44.25 43.09 43.1637.73 38.71 42.36 41.37 40.54 40.33 42.88 44.0326.69 25.86 24.84 22.12 24.66 23.36 24.82 26.3731.14 32.92 35.44 31.68 31.97 28.74 31.07 32.4317.51 17.72 17.62 16.81 17.86 17.38 16.68 17.0221.54 22.49 22.89 22.48 24.5 23.57 25.65 24.9529.58 29.88 31.95 32.2 34.82 34.99 38.06 39.5917.26 16.97 18.44 18.37 18.68 16.63 17.23 16.7726.82 25.43 22.55 21.53 20.55 18.68 20.03 18.91

71.2 71.56 73.9 65.7 66.9 67.45 80.7 81.7620.12 20.99 22.09 21.18 21.94 19.08 18.84 19.4622.21 23.64 22.04 21.38 22.21 21.71 20.74 21.5916.37 16.44 16.69 16 15.75 16.03 15.75 15.9921.57 21.58 22.58 22.53 23.07 23.34 22.89 23.1960.61 58.78 61.6 59.38 62.95 62.46 70 68.5726.07 25.85 26.54 26.65 27.89 27.67 27.57 26.9144.22 42.65 43.06 43.61 45.31 43.01 42.99 42.2349.43 46.68 45.35 39.9 39.4 36.86 38.11 39.6151.11 48.48 45.47 43.83 42.15 40.39 45.29 48.2254.23 51.12 49.9 48.81 47.73 48.19 50.36 53.553.83 49.32 50.09 49.94 46.53 45.26 45.68 43.6450.69 50.78 50.97 51.8 53.47 54.43 53.26 52.0219.97 20.72 22.49 22.3 23.21 24.26 23.16 22.4117.99 18.36 18.96 19.73 19.96 19.3 18.66 18.68

1228.81 1220.33 1234.18 1191.33 1191.5 1156.85 1180.59 1203.6

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1/31/2005 12/31/2004 11/30/2004 10/31/2004 9/30/2004 8/31/2004 7/31/2004 6/30/200442.27 43.24 44.75 41.52 42.95 43.45 42.06 42.3425.29 26.91 29.12 27.72 28.65 27.61 27.19 28.0336.87 37.37 36.44 35.27 34.12 35.07 33.14 32.9930.58 31.67 30.57 31.34 31.99 31.87 30.05 30.9430.77 30.38 29.72 27.67 26.93 28.08 30.01 32.8241.15 43.39 42.88 40.85 39.52 38.41 38.59 39.4643.28 44.58 43.29 41.43 43.6 45.09 42.01 43.66

44.7 45.06 44.31 45.89 45.28 44.82 45.01 44.5725.82 25.55 24.5 22.81 21.93 21.14 21.52 20.3433.44 34.64 33.84 33.23 31.71 29.57 27.21 28.4

16.5 16.56 15.63 16.06 15.82 17.56 17.23 19.8325.56 24.82 23.79 22.32 19.96 19.87 20.43 22.5635.08 36.18 33.43 31.38 31.33 30.93 31.11 32.2417.37 18.6 18.05 18.5 17.43 18.06 20.14 22.8217.81 19.06 18.11 16.9 16.98 16.13 18.17 19.0382.34 86.89 83.07 78.96 75.43 74.51 76.44 77.3918.15 18.91 18.09 17.96 16.19 17.18 19.64 22.2322.48 22.86 22.93 21.47 21.22 20.95 21.8 21.8615.79 16.91 16.52 16.58 16.83 16.73 16.44 15.5322.94 25.86 26.32 24.96 24.91 24.82 24.38 22.6568.56 66.7 64.69 62.77 64.71 66.64 66.34 72.527.45 27.73 26.7 25.77 25.36 24.62 24.96 24.3242.39 43.51 41.09 38.94 39.18 39.4 39.08 38.2337.13 40.46 37.98 33.42 33.21 30.01 30.34 32.6241.97 40.51 42.12 40.62 41.07 37.32 36.31 35.7343.39 43.11 43.1 41.17 40.42 38.56 38.49 36.9242.56 42.14 39.66 34.66 35.3 31.66 30.11 29.851.09 50.08 47.63 45.88 44.27 45.66 43.22 43.5519.83 22.73 19.54 21.84 23.02 31.1 31.36 32.8517.04 18.96 19.58 20.29 21.45 22.9 22.28 23.9

1181.27 1211.92 1173.82 1130.2 1114.58 1104.24 1101.72 1140.84

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5/31/2004 4/30/2004 3/31/2004 2/29/2004 1/31/2004 12/31/2003 11/30/2003 10/31/200337.96 35.22 33.88 35.78 34.31 34.63 31.55 31.4926.57 25.97 29.3 31.65 28.74 31.96 27.59 26.4232.09 31.07 31.26 31.32 31.14 30.75 28.54 28.65

29.4 30.01 33.21 32.47 30.79 28.81 27.76 28.1631.95 32.75 32.05 33.99 33.5 31.53 29.28 30.0938.86 37.52 39.74 40.87 39.66 36.9 34.9 35.8343.23 42.42 41.85 40.9 40.33 39.67 38.23 39.0447.32 48.28 50.56 50.34 45.51 44.83 46.94 49.7320.66 21.31 22.36 22.14 20.14 19.43 20.06 19.2628.92 28.33 30.08 29.18 28.5 28.52 29.48 29.7320.07 19.77 19.66 19.43 19.15 19.74 18.09 17.9620.77 20.38 22.11 23.48 21.24 20.65 20.24 19.8531.35 30.91 30.39 32.45 31.35 32.77 29.6 28.621.54 20.13 22.7 22.3 24.76 23.33 21.86 20.1519.08 17.7 20.52 20.33 21.3 20.56 19.39 19.977.77 77.25 80.46 84.54 86.8 81.07 79.19 78.13

23 20.69 21.88 23.49 24.52 25.74 26.94 26.4520.07 20 19.08 20.3 21.16 20.94 19.67 2015.17 15.94 15.52 15.18 16.12 16.29 14.55 14.9921.64 23.62 22.63 23.74 22.83 21.5 20.13 20.5968.11 69.36 65.66 62.57 63.15 67.89 63.11 62.723.22 22.35 22.78 24.27 24.94 22.98 21.13 21.3835.36 35.9 35.91 38.33 39.61 39.29 35.53 34.9730.94 31.92 32.32 30.97 31.94 33.79 30.95 29.8234.32 34.46 33.06 33.28 32.25 32.27 28.05 27.4835.96 35.15 34.36 34.84 33.49 33.66 29.72 29.8231.24 29.43 30.85 29.67 29.13 27.84 25.79 24.3543.56 42.03 39.45 41.93 41.37 40.01 38.18 38.7932.46 32.26 30.33 32.74 32.42 31.46 27.41 29.8724.64 24.81 24.32 25.43 25.3 24.4 23.19 21.72

1120.68 1107.3 1126.21 1144.94 1131.13 1111.92 1058.2 1050.71

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9/30/2003 8/31/2003 7/31/2003 6/30/2003 5/31/2003 4/30/2003 3/31/2003 2/28/200328.08 30.59 26.95 27.93 24.96 22.07 20.28 22.3

21.9 23.9 23.11 21.22 20.48 19.09 16.02 16.9529.52 29.68 30.92 29.6 27.55 27.5 24.82 25.4726.67 26.58 27.23 26.29 25.27 22.57 17.98 17.229.23 27.22 27.54 28.59 28.42 26.68 24.71 23.7734.32 34.32 33.65 31.77 31.66 28.77 25.19 25.4636.69 34.51 34.74 35.07 36.11 35.34 34.86 32.0547.04 49.84 47.09 45.21 44.24 47.36 43.75 40.3518.14 17.27 17.73 17 14.43 13.18 11.14 10.4925.54 25.74 24.97 26.5 25.95 22.47 19.46 18.6816.63 16.76 17.32 17.88 17.47 15.49 15.52 15.3317.68 17.97 19.21 17.31 17.23 16.36 14.92 14.9528.32 31.67 30.86 29.24 29.59 29.63 27.07 25.5518.86 18.43 18.77 16.17 15.8 14.44 12.5 13.4617.27 17.71 18.81 18.92 17.26 14.43 13.76 13.9677.12 71.6 70.8 71.89 76.71 73.84 68.22 67.822.09 22.95 19.97 16.69 16.7 14.74 13.05 13.8221.15 20.18 20.1 19.51 18.73 19.46 18.42 18.0313.67 13.8 14.36 15.47 15.42 14.15 11.96 12.4119.65 21.4 21.2 23.67 22.71 22.43 20.98 20.5254.91 56.63 55.47 51.03 50.04 49.61 51.18 49.3421.97 21.66 20.83 21 20.88 21.43 18.55 17.531.91 33.14 30.96 29.15 28.09 25.33 23.68 24.0127.89 29.1 27.33 22.41 21 21.18 19.68 18.826.43 26.95 26.41 26.44 25.98 22.77 23.43 23.2629.84 30.74 28.81 29.08 29.47 28.3 28.1 27.3524.08 23.65 24.92 24.04 22.95 22.04 21.93 19.8338.17 38.21 39.73 39.66 41.69 43.05 44.2 40.0634.17 33.72 35.06 38.41 35.03 36.67 34.52 33.0120.88 20.57 22.83 23.37 21.23 20.95 21.23 20.31

995.97 1008.01 990.31 974.5 963.59 916.92 848.18 841.15

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1/31/2003 12/31/2002 11/30/2002 10/31/2002 9/30/2002 8/31/2002 7/31/2002 6/30/200225.42 26.55 27.4 23.81 27.32 29.67 33.08 35.8516.22 18.69 20.96 17.98 15.73 20.45 22.05 26.8725.77 25.59 25.54 25.44 23.25 25.31 24.02 25.41

17.7 17.94 18.81 15.51 13.95 19.39 18.34 24.6525.14 26.22 28.44 25.05 21.93 23 23.6 29.4326.94 26.8 29.45 27.51 23.53 27.21 26.61 27.35

33.5 33.48 32.93 34.46 34.67 34.38 34.51 34.4640.13 42.4 45.18 44.89 41.28 44.77 41.17 46.0510.97 12.39 14.25 13.76 13.42 18.06 18.81 21.6216.65 19.13 20.98 22.95 20.74 26.13 24.51 29.1515.42 16.71 17.4 17.64 18.2 19.28 18.88 21.1715.34 14.3 17.16 14.46 13.11 13.58 15.35 16.3626.13 29.25 30.78 28.22 24.68 27.58 28.44 30.1312.87 12.61 14.37 10.77 10.09 13.31 12.7 13.4315.33 15.29 17.08 13.85 10.23 11.7 12.33 13.3267.88 67.28 75.45 68.4 50.52 65.32 60.87 62.2512.53 12.46 16.71 13.83 11.1 13.33 15 14.59

18 19.61 21.88 20.28 16.59 18.61 18.2 20.7514.58 16.03 16.85 15.17 11.73 14.44 16.14 17.6522.72 22.79 24.64 22.21 15.95 18.02 19.18 23.1148.77 48.28 50.84 49.46 42.85 48.68 48.79 47.69

16.7 17.58 19.43 18.09 17.66 21.45 22.91 20.6725.96 25.29 25.5 25.08 22.97 24.15 28.15 27.517.59 18.15 19.81 16.22 14.64 17.17 17.59 19.123.09 23.84 24.03 23.99 24.57 27.19 26.37 31.1127.27 27.9 27.79 26.7 25.31 28.12 28.98 32.2521.02 19.97 19.48 21.75 20.86 21.13 20.97 21.940.78 40.86 43.37 44.54 41 41.17 39.73 39.4734.67 35.43 36.95 33.74 28.43 31.19 30.62 31.2620.68 20.72 21.37 21.45 19.6 22.34 21.76 23.54855.7 879.82 936.31 885.76 815.28 916.07 911.62 989.82

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5/31/2002 4/30/2002 3/31/2002 2/28/2002 1/31/2002 12/31/2001 11/30/2001 10/31/200133.98 35.4 38.3 36.48 32.37 30.65 27.75 25.6428.35 27.46 30.45 30.31 28.8 28.56 31.01 25.9227.16 25.97 24.37 22.91 22.37 22.34 21.57 20.7326.12 25.51 25.66 21.05 24.5 25.91 26.89 25.2131.99 37.39 34.42 36.47 33.33 32.79 34.88 34.0132.01 30.88 30.78 27.39 26.94 26.76 24.67 22.0634.29 34.56 34.35 32.33 31.15 30.03 29.4 2845.23 46.7 51.25 51.78 50.09 48.06 45.99 42.8722.75 21.58 21.09 19.83 20.65 20.11 20.4 19.6433.04 36.75 38.53 39.59 39.66 40.39 36.94 30.2320.92 20.9 19.68 17.77 16.41 17.68 17.61 17.8919.84 20.07 19.98 19.91 18.23 17.94 17.54 15.9331.21 29.96 31.75 31.54 29.51 28.4 29.62 26.49

15.2 14.11 16.3 13.74 19.07 17.44 19.68 16.2916.56 14.83 15.56 17.38 19.1 17.75 18.93 14.4969.55 72.27 89.74 84.66 92.97 104.24 99.61 93.0122.05 22.83 24.26 22.78 27.94 25.08 26.04 19.4619.31 19.82 22.87 22.13 24.16 25.13 24.35 22.0519.84 17.97 21.51 21.74 21.51 22.35 21.33 21.7524.75 23.08 26.3 26.7 26.45 26.87 26.61 28.248.64 48.54 44.38 45.51 42.6 45.37 43.97 39.8522.02 22.31 26.44 27.22 26.14 28.21 26.97 25.51

27.9 28.32 29.95 29.45 27.64 26 24.21 21.5920.4 21.32 22.05 21.53 19.5 20.11 18.26 17.22

30.67 30.25 31.49 29.46 28.98 30.99 29.4 30.3931.47 31.48 34.35 32.37 30.42 30.62 29.14 30.5621.72 21 18.28 17.33 17.78 16.92 17.08 15.7246.34 48.07 48.89 45.84 43.16 44.35 43.71 43.3335.02 33.33 35.32 37.41 36.09 35.86 41.11 38.7223.27 24.36 26.63 27.45 27.84 26.62 28.93 27.92

1067.14 1076.92 1147.39 1106.73 1130.2 1148.08 1139.45 1059.78

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9/30/2001 8/31/2001 7/31/2001 6/30/2001 5/31/2001 4/30/2001 3/31/2001 2/28/200126.35 40.27 45.89 43.59 49.31 48.33 43.57 48.64

24.8 30.48 31.25 31.86 34.37 32.86 28.53 28.3820.53 21.42 22.16 20.91 20.64 19.32 18.89 17.4924.11 27.82 30.57 31.16 34.44 33.62 31.21 32.4330.54 30.92 32.26 37.3 37.02 32.82 32.23 33.6421.73 27.23 30.15 28.95 31.43 31.67 30.75 32.6727.48 27.99 26.81 23.95 24.12 22.54 23.36 26.3141.28 40.01 46.55 40.64 43.03 43.02 41.99 41.5920.45 22.63 21.96 20.39 22.82 20.72 20.01 22.1530.34 36.34 39.8 37.33 38.92 37.19 34.03 33.52

17.5 18.18 16.66 16.81 17.64 17.19 16.81 19.6615.95 21.79 22.57 24.75 27.09 25.92 24.5 26.5124.86 27.14 28.13 31.69 30.48 29.47 26.54 28.4911.73 15.72 18.51 17.53 18.55 16.35 15.22 22.8113.81 19.89 21.13 24.51 25.05 24.29 26.72 24.5878.94 86.02 90.43 97.56 96.1 98.85 82.57 85.7616.29 22.28 23.74 23.29 21.51 24.6 20.94 22.7319.41 21.64 25.1 27.69 26.24 25.7 20.74 22.3826.74 23.22 25.56 22.59 24.28 23.26 25.03 26.7530.42 28.11 30.45 29.87 30.62 30.74 27.31 27.4237.57 39.74 42.48 43.32 45.02 44.96 39.25 42.5926.06 28.53 30.34 34.06 34.06 33.74 29.1 32.2118.63 27.4 29.31 29.26 33.27 31.09 29.19 31.0317.12 19.11 21.05 19 20.56 19.06 16.73 15.6829.08 31.14 31.14 30.84 32.73 32.68 29.72 28.9930.52 31.1 32.16 33.64 34.17 33.95 31.03 31.05

15.9 16.27 16.12 14.76 13.75 15.65 14.17 14.1541.45 39.44 40.34 37.26 36.15 35.84 32.5 36.1640.41 39.5 41.03 38.58 44.06 45.64 45.6 47.9726.72 25.53 27.39 26.62 28.5 28.7 27.14 29.83

1040.94 1133.58 1211.23 1224.38 1255.82 1249.46 1160.33 1239.94

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1/31/2001 12/31/2000 11/30/2000 10/31/2000 9/30/2000 8/31/2000 7/31/2000 6/30/200045.61 51.46 53.84 52.76 50.18 41.73 37.86 32.4329.16 26.48 22.28 22.58 19.92 26.18 23.71 22.7318.37 15.66 13.63 16.18 17.63 18.03 15.79 14.3338.22 31.35 25.45 31.39 31.65 38.29 34.13 31.34

34.9 39.47 36.25 37.06 36.43 34.17 31.96 24.5435.07 40.84 40.84 44.61 45.1 43.82 42.09 38.6526.81 29.13 27.8 26.53 24.76 22.85 21.06 20.8547.16 44.11 43.28 37.63 39.91 39.45 45.77 47.7422.12 25.62 24.01 23.21 22.6 22.38 23.72 24.6638.02 36.04 30.91 33.88 41.72 37.87 40.75 39.3221.51 22.6 23.22 22.33 20.38 19.4 22.6 21.1726.09 24.79 24.62 30.47 32.54 33.14 32.81 33.0228.27 31.24 27.36 29.11 26.22 28.79 28.85 27.8536.05 36.83 46.11 51.88 53.2 66.08 63.01 61.231.39 26.89 26.87 39.51 41.21 51.18 46.35 52.9796.04 72.89 80.18 84.36 96.45 113.07 96.03 93.7329.43 23.91 30.27 35.78 33.04 59.52 53.05 53.1323.16 16.45 21.76 26.12 22.87 26.48 26.48 30.3427.11 26.64 30.65 32.19 27.69 23.19 23.63 24.2930.44 27.57 30.9 31.8 26.43 23.75 25.51 27.4941.58 45.28 37.53 36.08 34.03 34.74 33.43 30.8131.85 33.21 34.22 37.84 39.91 40.39 35.61 36.4129.77 31.22 28.12 27.63 27.45 24.71 23.03 23.2316.67 17.7 14.71 13.12 11.47 13.6 12.6 12.4127.97 28.36 27.5 27.37 28.41 28.17 26.12 28.0532.07 33.14 33.54 33.83 33.8 30.96 30.25 29.6113.48 14.67 14.02 13.07 11.8 11.29 9.77 10.2434.48 38.9 37.03 33.99 34.67 33.93 34.23 37.4749.16 56 55.23 53.59 44.36 41.65 42.5 45.4429.86 30.42 29.3 28.5 29.64 28.47 28.56 31.61

1366.01 1320.28 1314.95 1429.4 1436.51 1517.68 1430.83 1454.6

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5/31/2000 4/30/2000 3/31/2000 2/29/2000 1/31/2000 12/31/1999 11/30/1999 10/31/199930.3 30.68 29.22 28.55 34.28 31.92 31.3 35.3722.9 25.32 27.42 26.74 27.11 32.29 25.48 23.55

18.48 16.18 17.32 15.02 15.82 16.39 18.98 20.8733.88 32.72 39.35 35.93 36.42 34.86 34.67 39.1526.76 25.42 24.35 15.82 21.35 23.82 21.02 22.2840.03 36.94 36.74 33.1 40.64 40.95 37.22 37.9324.43 21.95 20.75 32.13 36.95 39.95 39.38 38.2447.68 45.82 46.75 40.29 45.24 57.12 47.59 46.526.81 28.49 27.98 23.77 27.98 30.18 34.25 30.8538.55 44.45 50.74 45.2 44.52 54.04 41.5 39.6719.61 17.36 17.24 17.8 21.02 21.32 24.64 21.54

35.9 37.12 35.1 28.93 30.89 24.89 23.71 22.3531.2 29.99 33.47 31.93 37.06 41.37 37.33 40.24

54.83 66.76 74.44 63.64 52.72 51.57 42.94 35.6339.75 44.64 43.84 44.43 35.76 37.57 31.29 24.47

91.8 95.27 101.14 87.79 95.81 92.07 87.97 83.7549.55 50.38 52.42 44.89 39.3 32.69 30.46 30.7523.73 26.45 40.3 33.89 37.12 44.28 34.53 35.124.12 24.19 23.13 20.73 23.54 26.62 28.75 28.8128.61 32.47 32.88 26.32 33.31 32.89 34.08 34.731.83 31.95 32.66 32.53 34.31 35.86 35.02 34.6436.16 36.01 35.64 30.23 30.6 35.33 29.64 30.8623.84 24.46 24.85 20.04 20.74 25.47 22.14 23.6214.01 14.45 14.33 12.74 15.42 17 16.75 19.9830.57 27.95 30.36 24.53 27.23 28.21 28.84 29.5331.43 29.15 29.26 28.26 30.92 30.06 29.59 27.47

8.91 7.97 7.12 6.11 6.33 6.34 6.2 6.1732.92 30.23 25.75 26.39 31.43 34.05 37.89 38.1544.25 41.06 36.7 36.2 46.23 39.51 46.1 46.61

29.3 27.69 24.03 21.11 23.72 21.26 24.01 25.961420.6 1452.43 1498.58 1366.42 1394.46 1469.25 1388.91 1362.93

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9/30/1999 8/31/1999 7/31/1999 6/30/1999 5/31/1999 4/30/1999 3/31/1999 2/28/199932.73 34.79 34.74 33.68 32.2 31 25.94 27.1924.06 25.03 23.14 23.91 21.26 23.98 15.87 15.618.03 19.45 21.33 23.56 20.65 22.84 22.54 20.7133.64 37.35 34.39 38.42 32.14 36.64 35.96 35.1919.15 21.92 21.28 21.75 23.96 19.3 20.9 21.42

33.2 33.81 32.4 32 29.72 32.08 28.91 26.5934.07 36.07 32.91 31.91 33.81 33.97 35.36 32.3239.27 36.55 34.85 39.8 35.12 37.9 37.98 35.4432.34 30.94 31.14 30.72 28.76 31.61 33.8 31.6735.93 32.21 33.39 33.72 29.58 31.25 32.56 31.217.62 21.77 22.05 22.57 24.88 24.72 22.29 23.1421.89 23.36 23.2 25.93 24.51 26.73 26.2 29.6237.78 39.58 44.82 42.45 40.67 43.72 35.91 31.7333.01 32.65 29.91 31.03 26.24 27.46 26.37 23.5529.93 34.7 34.47 33.09 31 25.93 22.29 21.79

103.14 106.18 107.04 110.07 98.78 88.97 75.39 72.229.5 32.63 27.38 23.61 21.45 24.27 23.58 23.79

34.35 35.1 32.54 34.21 30.6 30.84 33.99 28.4727.88 26.11 31.04 31.38 27.66 30.16 25.41 28.4735.76 32.57 34 34.51 28.9 30.42 27.09 30.2

35 34.44 31.86 31.5 31.07 32.04 25.47 26.6627 25.5 24.75 25.58 23.02 23.85 25.04 22.63

23.16 25.82 25.97 28.04 24.17 28.14 26.31 24.0619.68 20.33 21.05 21.42 19.59 22.98 16.32 16.19

28.7 29.85 29.32 30.54 29.72 31.85 28.33 24.5428.19 29.25 29.29 28.46 29.47 30.5 25.91 24.44

5.81 7.26 7.28 7.48 6.96 6.7 6.28 5.8933.46 37.24 33.06 35.58 33.63 35.3 33.85 30.9137.97 39.19 39.44 42.94 39.28 40.88 46.55 47.1923.46 24.69 22.1 23.71 23.27 24.98 30.12 28.64

1282.71 1320.41 1328.72 1372.71 1301.84 1335.18 1286.37 1238.33

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1/31/1999 12/31/1998 11/30/1998 10/31/1998 9/30/1998 8/31/1998 7/31/1998 6/30/199826.37 24.8 30.89 28.46 26 23.44 29.3 33.6416.02 14.29 14.23 15.14 13.56 11.44 13.19 12.55

21.2 19.06 20.52 18.1 16.84 17.98 24.94 23.9934 31.22 27.89 24.98 18.8 22.88 32.96 32.75

19.44 23.03 22.98 21.6 21.19 19.76 23.25 27.0325.21 25.06 24.46 21.54 18.92 19.01 26.9 27.7232.81 32.86 31.53 31.92 25.51 27.44 28.46 32.5535.39 33.52 30.96 28.39 22.46 24.23 25.92 24.9429.36 28.62 26.1 24.95 22.21 20.98 24.83 25.6431.62 31.99 25.99 22.76 20.63 19.9 21.86 21.6823.66 24.27 25.38 24.42 20.83 23.48 29.03 30.8327.78 25.25 27.1 22.68 21.31 23.05 28.93 29.3831.45 32.6 36.18 35.28 34.37 35.36 37.66 45.3726.86 22.34 18.14 15.17 14.88 13.14 15.37 14.77

25.7 22.4 20.47 19.71 17.32 15.84 18.1 19.5377.83 78.31 70.14 62.98 54.5 47.76 56.1 48.6127.94 23.5 21.34 17.67 16.99 14.11 16.73 14.6833.19 26.3 23.14 20.08 20.87 18.19 20.85 20.5529.07 28.75 25.7 24.82 23.67 20.3 21.84 21.2131.44 28.1 28.95 27.68 25.02 22.8 23.42 23.3827.74 25.42 28.77 28.26 26.15 24.31 26.47 28.9623.66 23.01 20.31 19.67 17.88 17.92 20.03 20.2923.13 21.06 20.76 18.38 14.75 14 18.42 17.7815.39 16.24 17.45 15.86 15.61 14.73 17.01 18.45

23.6 26.28 26.49 25.63 26.43 23.29 25.78 26.1325.65 26.7 27.38 26 25.64 23.76 25.35 25.75

5.34 5.14 5.39 5.13 4.18 4.31 6.75 7.630.72 30.27 29.33 29.33 28.16 24.83 27.71 26.5442.48 42.7 44.75 38.96 37.38 33.3 35.49 38.4227.87 27.09 24.26 23.21 22.87 20.12 23.71 23.47

1279.64 1229.23 1163.63 1098.67 1017.01 957.28 1120.67 1133.84

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5/31/1998 4/30/1998 3/31/1998 2/28/1998 1/31/1998 12/31/1997 11/30/1997 10/31/199736.05 37.68 39.24 40.84 35.75 36.73 39.88 35.92

13.2 14.7 13.05 13.92 14.42 13.28 12.7 13.7323.49 23.65 22.7 21.2 18.53 18.82 18.47 18.3929.48 30.05 29.1 26.76 23.12 23.49 23.33 24.7628.16 26.89 28.27 27.8 27.3 25.74 24.79 24.7724.96 24.85 22.28 21.86 20.31 21.66 19.09 18.8829.98 29.38 30.07 30.25 27.93 28.36 27.07 24.1622.61 20.73 20.83 18.96 16.3 16.15 16.37 14.3124.38 22.96 22.26 20.25 17.46 17.69 17.97 16.5720.49 18.18 17.64 16.65 15.77 15.34 14.6 14.5228.21 27.31 27.88 24.65 23.26 23.96 22.45 20.331.67 34.83 29.81 31.26 29.84 27.61 26.47 22.9746.89 44.03 41.12 37.08 34.08 36.14 36.44 34.0512.14 11.76 10.97 10.57 10.12 8.95 9.23 8.7820.26 24.51 20.61 21.74 19.51 20.24 19.79 19.9549.75 48.97 43.9 44.14 41.65 44.12 46.18 41.4614.15 16.01 15.46 17.76 16.04 13.9 15.36 15.2416.08 17.09 16.97 16.07 14.15 12.25 13.42 12.3320.62 21.97 22.87 19.94 20.51 19.2 19.03 16.6823.47 23.97 25.99 22.81 23.53 22.94 22.49 20.1632.64 33.07 31.89 29.89 29.08 28.57 33.93 31.6818.61 19.02 19.24 17.29 17.23 16.31 16.36 14.3118.07 18.85 17.67 17.1 15.5 13.89 14.3 13.319.16 19.86 19.12 18.95 16.67 16.75 16.56 17.724.92 25.62 24.88 25.05 22.98 23.67 24.65 25.3225.44 26.22 24.26 22.88 21.14 21.81 21.74 21.75

7.64 8.39 7.73 7.24 6.12 5.93 6.21 5.5324.77 25.56 26.25 26.94 23.85 23.47 22.43 20.3733.47 34.48 36.68 36.37 33.46 30.22 26.91 25.3222.63 24.53 21.49 19.08 17.58 16.03 15.64 15.23

1090.82 1111.75 1101.75 1049.34 980.28 970.43 955.4 914.62

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9/30/1997 8/31/1997 7/31/1997 6/30/1997 5/31/1997 4/30/1997 3/31/1997 2/28/199740.74 40.78 43.81 39.61 39.33 36.7 36.7 37.8715.43 15.47 16.6 14.14 13.81 13.11 12.71 13.3219.03 18.27 21.77 19.74 17.91 18.36 16.88 18.1525.18 23.73 24.23 20.58 20.04 19.53 19.77 21.0925.28 22.46 24.01 23.34 21.65 20.25 19.61 20.1219.76 18.77 20.22 17.93 16.73 15.82 14.36 15.7324.45 23.57 26.93 24.92 24.33 22.19 20.17 21.1214.97 14.48 15.3 13.79 12.16 11.45 11.35 10.7117.62 17.5 19.85 17.84 18.55 19.72 17.42 15.9413.57 12.27 12.96 11.97 10.93 10.05 9.27 9.4521.86 20.49 24.71 24.31 24.44 22.71 19.89 21.7222.45 21.38 22.5 22.3 22.76 22.72 20.22 20.636.85 37.3 39.95 37.46 32.36 31.43 31.4 31.77

7.82 8.06 8.51 7.18 7.25 5.54 5.15 5.9522.52 19.87 22.62 18.09 16.6 16.92 17.16 18.0544.62 42.67 44.43 37.92 36.34 33.72 28.83 30.218.26 18.23 18.17 14.02 14.98 15.14 13.76 14.0312.55 12.53 13.41 11.98 11.76 11.52 8.69 9.2415.99 14.15 15.41 15.99 15.12 14.34 13.57 14.7420.09 18.07 18.12 18.95 17.48 16.92 14.99 17.0532.01 31.12 32.62 35.2 31.63 29.78 28.96 31.4915.07 13.8 15.47 14.28 13.27 12.19 10.9 11.2415.39 14.83 16 15.71 15.21 14.25 14.28 14.1818.55 19.97 19.26 18.38 16.71 15.24 13.67 13.3325.35 23.64 23.93 22.4 21.21 20.58 20.92 19.3822.68 21.67 22.6 21.54 20.84 19.78 18.82 17.51

5.97 5.8 6.8 6.21 6.74 5.8 5.68 5.9620.48 20.13 21.97 22.77 21.22 21.54 18.64 20.2628.36 25.93 29.33 28.89 25.26 25.4 23.68 25.77

12.9 11.89 12.79 12.78 11.02 10.23 8.97 9.77947.28 899.47 954.31 885.14 848.28 801.34 757.12 790.82

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1/31/1997 12/31/1996 11/30/1996 10/31/1996 9/30/1996 8/31/1996 7/31/1996 6/30/199639.76 39.53 36.89 35.29 34.97 33.49 32.65 32.1412.86 11.88 11.85 10.92 10.93 11.51 10.75 10.5916.35 14.79 15.57 14.16 13.05 12.7 12.83 12.3319.48 18.71 19.78 17.95 16.66 15.46 14.45 14.5718.63 17.47 17.28 15.95 16.28 14.93 14.93 15.44

14.9 13.55 12.48 11.23 10.99 10.4 10.4 10.5620.33 18.84 19.04 17.33 16.99 15.49 15.55 15.71

9.65 9.24 10.34 10.74 10.69 10.69 9.71 10.2616.75 16.7 17.21 16.35 17.41 17.04 17.02 17.15

8.56 8.67 9.01 9.49 9.83 9.17 8.7 9.3220.61 18.74 18.2 17.94 18.07 17.72 16.61 17.3620.22 19.32 20.46 18.25 17.49 15.76 15.38 17.35

32.3 27.73 27.77 27.17 25.81 24.05 23.49 23.027.46 6.81 7.26 6.62 6.64 5.64 5.54 6.06

16.92 16.16 17.29 14.16 15.64 14 14.08 15.9432.88 31.75 33.4 26.96 26.02 23.91 22.4 20.6316.04 12.94 12.54 10.86 9.43 7.88 7.42 7.25

9.67 7.83 7.44 6.51 6.25 5.81 5.59 5.6914.1 13.19 13.38 12.36 12.13 11.75 12.32 12.3

16.59 15.8 15.34 14.7 14.44 13.57 14.26 15.229 28.23 28.49 25.82 23.59 23.25 21.82 22.3

11.31 10.81 11.31 10.52 9.9 8.99 8.9 9.3413.09 12.44 13.16 12.03 11.25 10.54 10.47 10.713.23 12.76 13.41 11.63 12.71 11.61 11.11 11.3519.78 19.38 19.97 19.44 18.52 17.41 16.95 17.2817.96 16.98 16.35 15.22 14.3 14 13.99 14.78

5.81 5.37 5.14 4.5 4.96 4.61 4.03 6.0220.29 17.48 18.71 17.24 17.94 17.24 16.65 17.2625.35 22.28 23.11 20.57 19.59 18.16 17.78 17.88

9.82 8.81 9.52 8.76 8.37 7.51 7.39 7.52786.16 740.74 757.02 705.27 687.33 651.99 639.95 670.63

Page 35: Partial Correlation Network Graph VBA ( DJINDI )

5/31/1996 4/30/1996 3/31/1996 2/29/1996 1/31/1996 12/31/1995 11/30/1995 10/31/199531.45 30.19 31.85 29.83 28.41 28.72 26.71 23.9211.37 11.47 11.52 10.46 10.21 9.69 10.72 9.312.02 11.84 11.87 10.93 10.27 10.24 10.51 9.5914.44 14.23 14.54 14.77 13.82 12.01 12.27 11.6314.99 15.06 15.74 15.79 15.9 15.51 15.38 13.9410.82 11.47 11.63 10.8 10.83 9.69 9.95 9.5215.23 14.65 14.62 14.15 14.49 14.26 14.86 13.9110.45 9.64 9.29 8.56 8.21 8.96 9.67 8.6917.66 17.54 17.58 18.32 18.38 16.51 16.33 14.98

8.82 8.17 8.23 7.45 7.92 8.23 7.64 6.4116.26 14.4 14.62 14.22 13.28 13.08 13.34 12.6216.77 17.11 17.6 18.05 17.7 16.22 16.54 15.85

23.2 23.18 23.97 22.09 22.02 20.05 19.08 17.755.86 5.55 4.96 5.08 4.45 3.99 4.5 4.15

17 16.9 15.03 16.05 13.5 13.34 13.19 14.7222.24 22.38 23.1 25.46 22.48 18.93 20.02 20.1

7.45 6.69 5.61 5.8 5.45 5.59 6 6.895.63 5.37 4.89 4.68 4.39 4.16 4.13 4.74

12.34 12.52 13.03 13.59 14.02 14.08 13.31 13.7414.87 15.49 14.58 15.58 16.23 15.6 14.69 14.8122.05 21.1 20.74 20.9 20.56 21.15 20.83 18

8.91 8.31 8.38 8.08 8.21 7.7 7.13 6.7210.17 10.23 10.39 9.94 9.45 8.73 8.63 8.12

11 10.75 11.34 11.13 10.73 9.73 10.17 9.417.5 16.85 16.3 16.16 14.93 15.08 14.21 13.32

14.42 14.32 13.73 13.39 13.4 13.54 12.92 12.626.54 6.98 7.33 7.77 7.48 7.8 7.5 6.34

16.98 16.07 16.02 16.24 16.62 14.8 14.99 14.0517.79 16.65 17.14 18.15 19.21 17.97 16.86 15.66

7.46 7.22 7.05 6.91 7.15 6.58 6.06 5.97669.12 654.17 645.5 640.43 636.02 615.93 605.37 581.5

Page 36: Partial Correlation Network Graph VBA ( DJINDI )

9/30/1995 8/31/1995 7/31/1995 6/30/1995 5/31/1995 4/30/1995 3/31/1995 2/28/199524.93 23.37 24.38 22.79 21.42 19.92 19.47 16.71

9.64 10.42 10.35 9.1 8.45 8.11 7.5 7.059.81 8.95 8.12 7.76 8.19 7.17 7.28 7.15

12.35 11.81 10.47 9.48 9.26 8.38 7.58 7.9616.03 14.67 13.18 13.32 13.52 12.76 13.29 12.710.34 9.41 8.97 8.16 8.22 8.04 8.02 7.7313.16 11.86 11.77 12.21 12.21 11.87 11.2 11.24

9.95 9.85 10.68 10.73 9.96 9.51 10.26 9.4913.97 13.33 14.08 14.27 13.81 12.74 12.42 12.1

6.86 6.88 7.56 7 7.15 7.17 7.6 7.712.12 11.25 11.49 11.16 10.75 10.14 9.83 9.5515.76 15.45 16.1 15.22 15.22 15.19 14.65 14.6119.56 18.6 18.91 19.41 19.16 18.45 16.95 15.72

3.69 3.51 2.98 2.7 2.34 2.13 2.04 1.8113.25 12.68 12.34 11.81 10.43 10.45 9.51 9.0719.53 21.37 22.45 19.8 19.18 19.46 16.89 15.48

5.92 6.05 6.4 6.23 5.53 5.04 4.18 3.924.29 4.39 4.29 4.28 4.01 3.88 3.37 2.99

13.42 12.36 11.75 11.52 10.89 10.68 10.06 9.9714.15 13.72 13.2 12.75 12.64 12.44 11.89 12.0517.84 17.28 17.76 18 18.82 18.56 18.1 17.04

6.78 6.22 6.23 5.95 6.08 5.87 5.66 5.78.09 7.63 7.64 7.1 6.9 6.61 6.24 69.36 11.04 11.58 10.52 9.87 9.58 9.05 8.42

13.89 13.78 13.92 13.08 13.85 13.23 13.41 13.311.94 11.36 11.86 11.55 11.67 11.25 10.78 10.34

5.83 5.04 5.37 4.93 4.44 4.34 5.57 5.1212.78 11.89 12.31 11.58 11.34 11.1 10.16 9.6915.26 13.5 13.97 13.29 12.64 11.53 11.46 11.31

5.55 5.13 5.24 4.76 4.56 4.45 4.41 4.27584.41 561.88 562.06 544.75 533.4 514.71 500.71 487.39

Page 37: Partial Correlation Network Graph VBA ( DJINDI )

1/31/1995 12/31/1994 11/30/1994 10/31/1994 9/30/1994 8/31/1994 7/31/1994 6/30/199416.03 16.93 16.17 15.72 15.49 16.3 15.9 16.47

7.1 7.78 7.33 7.66 7.58 7.51 6.96 6.516.62 6.41 6.37 6.95 6.88 7.83 7.76 7.167.74 7.12 7.13 7.45 6.86 7.5 7.43 7.45

12.54 11.69 10.58 11.19 10.42 10.88 10.75 10.097.24 6.78 6.76 7.04 6.88 6.37 6 5.78

11.01 10.42 10.51 10.57 9.97 10.18 9.32 8.879.14 8.49 9.29 9.38 9.32 9.82 9.96 9.66

11.85 10.63 10.31 10.47 9.56 10.24 9.81 10.448.02 7.89 7.93 7.8 7.2 7.75 7 7.219.12 8.95 8.88 8.72 8.42 7.93 7.65 7

13.93 12.57 11.89 10.8 10.57 11.25 11.56 11.3414.79 15.59 14.96 16.42 15.97 16.66 16.22 15.91

1.79 1.88 1.73 1.61 1.46 1.33 1.12 1.257.92 7.87 7.68 7.69 6.87 7.05 6.08 5.89

14.78 15.07 14.5 15.22 14.22 13.99 12.59 11.953.41 3.14 3.1 3.05 3.02 3.23 2.91 2.872.82 2.9 2.98 2.99 2.66 2.76 2.44 2.45

10.21 9.58 9.81 9.93 9.98 9.72 9.87 10.1312.19 11.03 11.11 11.61 11.6 11.98 12.39 12.116.16 16.47 15.81 16.95 16.91 16.87 16.13 15.07

5.36 5.31 4.75 5.05 4.97 5.1 5.16 4.785.76 5.64 5.25 5.6 5.57 5.66 5.31 5.678.38 8.95 8.79 9.7 8.76 9.34 8.77 8.07

12.34 12.34 12.07 12.32 11.39 11.6 12.02 11.349.99 9.71 9.65 9.93 9.08 9.4 9.28 8.865.78 5.38 5.68 6.29 6.32 6.23 5.42 5.389.87 9.3 9.07 9.23 8.74 8.47 7.89 7.2

10.75 10.18 9.86 9.44 9.44 8.96 7.78 7.814.18 3.95 3.95 3.76 3.51 3.46 3.12 3.18

470.42 459.27 453.69 472.35 462.71 475.49 458.26 444.27

Page 38: Partial Correlation Network Graph VBA ( DJINDI )

5/31/1994 4/30/1994 3/31/1994 2/28/1994 1/31/1994 12/31/1993 11/30/1993 10/31/199316.52 15.94 15.76 16.56 15.23 15.23 13.6 13.12

6.28 6.01 6.33 6.66 7 6.1 6.09 5.957.71 7.22 6.32 6.75 6.94 6.7 6.45 6.327.36 6.66 6.97 7.07 7.49 7.61 7.23 7.549.56 9.77 9.57 10.02 10.65 10.83 10.51 11.1

6.2 5.84 5.42 5.71 6.37 5.98 6.08 6.259.36 9.45 8.83 9.49 9.83 9.36 9.32 8.919.34 10.04 10.28 11.26 10.52 9.92 11.36 10.46

11.19 10.83 10.27 10.94 10.95 10.27 10.56 10.367.72 7.18 6.97 7.12 6.67 6.75 7.09 6.77

6.9 7.16 6.97 7.28 6.98 7.62 7.17 7.3711.81 11.57 11.42 13.05 12.84 11.57 10.82 11.6716.94 15.49 14.37 14.44 15.1 12.98 12.84 12.69

1.32 1.62 1.83 1.97 1.94 1.73 1.5 1.376.12 6.26 6.41 7.05 6.63 6.15 5.72 5.71

12.82 11.65 11.07 10.71 11.39 11.39 10.87 9.233.07 2.99 3.31 3.37 3.2 3.04 3.01 3.12.55 2.19 2.01 1.96 2.02 1.91 1.9 1.99.58 9.66 9.31 9.02 9.65 9.48 9.71 10.11

11.53 11.18 11.03 11.67 12.1 12.49 12.64 13.4115.48 14.74 14.89 15.85 16 16.23 16.26 15.36

5.06 4.84 5.08 5.32 5.44 5.3 4.93 4.865.85 5.58 5.44 5.95 5.86 5.39 5.38 5.368.63 8.87 9.06 8.73 8.39 7.16 6.86 7.36

11.78 11.92 11.25 11.6 12.38 11.56 11.52 12.759.54 9.7 9.7 10.01 10.15 9.63 9.58 9.865.74 4.95 5.09 4.92 5.09 4.52 4.31 4.167.43 6.9 6.29 6.69 7.02 7.44 7.23 6.947.93 7.7 7.74 8.35 9.41 8.86 8.76 8.213.21 2.95 2.7 2.9 3.21 3.42 3.3 3.07

456.5 450.91 445.77 467.14 481.61 466.45 461.79 467.83

Page 39: Partial Correlation Network Graph VBA ( DJINDI )

9/30/1993 8/31/1993 7/31/1993 6/30/1993 5/31/1993 4/30/1993 3/31/1993 2/28/199313.42 13.86 13.68 12.86 13.77 13.12 12.08 11.87

5.87 6.57 6.2 6.09 5.87 5.72 5.58 6.066.98 6.98 6.78 6.67 6.34 6.62 7.29 7.088.46 7.58 7.69 7.63 7.1 7.08 7.47 7.43

10.79 10.61 9.94 9.25 9.26 9.08 9.08 8.696.9 6.25 6.28 6.15 5.49 5.34 5.17 4.63

7.76 7.9 7.96 8.44 7.97 7.97 8.05 8.399.76 10.21 10.05 10.4 11.02 10.58 12.56 12.849.33 9.67 9.24 8.82 8.91 8.62 9.47 9.076.58 7.3 7.53 7.47 7.89 7.21 8.09 8.147.18 7.35 7.32 7.28 7 6.64 7.19 7.12

10.23 10.64 10.16 11.03 11.9 11.03 12.02 11.9912.39 12.96 12.38 12.44 13.93 13.65 12.63 12.14

1.34 1.28 1.39 1.46 1.44 1.1 1.2 1.175.3 5.73 5.56 6.26 6.42 5.77 5.86 5.67

8.43 9.18 8.88 9.85 10.53 9.6 10.04 10.733.46 3.14 2.56 2.69 2.71 2.33 2.81 2.851.96 1.78 1.75 2.09 2.2 2.03 2.19 1.989.74 10.3 9.17 8.69 8.61 8.66 8.68 8.27

13.43 13.51 12.54 12.37 11.3 10.7 11.53 11.4515.23 16.23 15.42 15.87 16.58 16.22 15.97 15.38

4.81 4.9 4.91 4.77 4.59 4.49 4.41 4.134.79 4.91 4.65 4.63 4.53 4.19 4.02 3.86.34 6.61 6.17 6 5.74 5.55 4.73 4.64

12.85 12.24 11.5 11.42 11.47 11.09 10.71 9.929.88 9.86 9.79 9.87 9.77 9.74 9.76 9.394.09 3.53 3.76 3.83 3.56 3.22 3.07 2.636.49 6.71 5.97 6.79 7.3 7.09 6.93 6.917.86 8.08 7.76 9 9.63 9.32 8.91 9.632.93 3.1 2.91 3.28 3.51 3.32 3.03 2.84

458.93 463.56 448.13 450.53 450.19 440.19 451.67 443.38

Page 40: Partial Correlation Network Graph VBA ( DJINDI )

1/31/199312.09

6.47.117.468.62

4.48.03

12.878.698.337.12

12.3311.87

1.185.53

10.062.612.057.65

10.6314.18

4.233.944.499.268.923.847.1210.13.19

438.78

Page 41: Partial Correlation Network Graph VBA ( DJINDI )

Ticker Name Sector 12/31/2012 11/30/2012BA Boeing 0.50% 6.10%AA Alcoa Aluminum 4.04% -1.87%BAC Bank of America Banking 11.68% 5.80%JPM JPMorgan Chase Banking 5.84% -1.44%TRV Travelers Insurance 5.41% -0.17%AXP American Express Consumer 2.45% -0.13%PG Procter & Gamble Consumer 0.14% 0.85%WMT Wal-Mart Retail -3.38% -4.01%MCD McDonald's Fast food 3.30% 1.17%HD The Home Depot -2.70% 6.50%KO Coca-Cola Beverage -1.11% 2.68%DIS Walt Disney 0.76% 1.10%DD DuPont Chemical 3.45% -2.13%CSCO Cisco Systems Computer 6.35% 11.10%HPQ Hewlett-Packard 10.41% -6.20%IBM IBM 1.87% -1.86%INTC Intel Semicondu 5.11% -8.59%MSFT Microsoft Software 1.80% -5.97%T AT&T Telecomm 0.29% -1.33%VZ Verizon Telecomm 0.00% -1.16%MMM 3M Conglome 2.29% 4.52%GE General Electric Conglome 3.79% 0.33%UTX United Technologies Corporation Conglome -0.15% 3.21%CAT Caterpillar 5.16% 0.51%CVX Chevron Corporation Oil & gas 2.83% -3.30%XOM ExxonMobil Oil & gas 0.83% -2.72%UNH UnitedHealth Group Managed h 0.35% -2.89%JNJ Johnson & Johnson Pharmaceu 1.74% -0.67%MRK Merck Pharmaceu -0.57% -2.92%PFE Pfizer Pharmaceu 1.36% 1.50%^GSPC S&P500 1.00% 0.28%

Aerospace and defense

Home improvement retailer

Broadcasting and entertainment

Computers and technologyComputers and technology

Construction and mining equipment

Page 42: Partial Correlation Network Graph VBA ( DJINDI )

10/31/2012 9/30/2012 8/31/2012 7/31/2012 6/30/2012 5/31/2012 4/30/2012 3/31/20121.21% -2.52% -2.82% -0.53% 6.75% -8.83% 3.26% -0.77%

-2.94% 3.52% 1.43% -3.22% 2.36% -11.84% -2.92% -1.49%5.56% 10.66% 8.88% -10.29% 11.32% -9.28% -15.30% 20.15%3.73% 8.98% 3.16% 1.62% 7.78% -22.88% -5.92% 17.17%3.92% 6.20% 3.33% -1.86% 2.94% -2.84% 8.64% 2.86%

-1.22% -2.48% 1.03% -0.52% 4.26% -7.27% 4.44% 9.38%0.64% 3.24% 4.11% 6.28% -1.67% -2.13% -4.50% -0.61%1.66% 1.65% -1.93% 6.76% 5.93% 12.47% -3.74% 4.28%

-5.39% 2.53% 0.93% 0.93% -0.90% -7.60% -0.67% -1.19%1.66% 6.37% 9.33% -1.52% 7.39% -4.16% 2.93% 6.42%

-1.96% 2.11% -7.43% 3.32% 5.35% -2.09% 3.12% 6.71%-6.04% 5.69% 0.66% 1.32% 6.11% 6.03% -1.53% 4.28%

-11.43% 1.06% 0.94% -1.71% 4.77% -8.97% 1.07% 4.02%-9.56% 0.11% 19.59% -6.65% 5.12% -18.97% -4.31% 6.39%

-18.82% 1.87% -7.47% -9.31% -10.79% -8.43% 3.91% -5.36%-6.23% 6.47% -0.15% 0.21% 1.39% -6.46% -0.75% 6.05%-4.55% -8.75% -2.54% -3.56% 3.16% -8.38% 1.02% 4.62%-4.10% -3.43% 5.27% -3.65% 4.80% -8.23% -0.76% 1.64%-7.19% 2.90% -3.36% 7.64% 4.38% 3.83% 6.85% 2.11%-0.95% 6.12% -4.88% 2.71% 6.73% 3.11% 7.02% 0.33%-5.22% -0.20% 2.14% 1.82% 6.16% -4.89% 0.16% 1.84%-7.27% 10.51% -0.19% -0.44% 10.06% -2.49% -2.43% 5.33%-0.17% -1.95% 8.02% -1.45% 1.92% -8.65% -1.56% -1.11%-0.83% 0.83% 1.34% -0.19% -3.10% -14.74% -3.12% -6.73%-5.42% 3.92% 3.17% 3.86% 7.31% -6.91% -0.60% -1.75%-0.31% 4.75% 1.18% 1.49% 8.82% -8.30% -0.45% 0.27%1.07% 2.45% 6.29% -12.67% 5.28% -0.68% -4.72% 6.02%2.77% 2.20% -1.71% 2.47% 8.20% -3.16% -1.31% 1.36%1.19% 5.75% -2.54% 5.81% 12.31% -4.23% 2.17% 1.72%0.08% 4.14% 0.17% 4.52% 5.17% -3.55% 1.14% 7.15%

-1.98% 2.42% 1.98% 1.26% 3.96% -6.27% -0.75% 3.13%

Page 43: Partial Correlation Network Graph VBA ( DJINDI )

2/29/2012 1/31/2012 12/31/2011 11/30/2011 10/31/2011 9/30/2011 8/31/2011 7/31/20111.64% 1.13% 6.78% 5.08% 8.72% -9.50% -4.48% -4.69%0.40% 17.45% -13.65% -6.61% 12.42% -25.18% -12.93% -7.13%

11.83% 28.39% 2.22% -20.21% 11.51% -25.03% -15.78% -11.41%5.21% 12.98% 7.38% -10.90% 16.42% -19.83% -7.14% -0.59%

-0.56% -1.46% 5.97% -3.61% 19.76% -2.61% -8.47% -5.57%5.50% 6.69% -1.82% -5.09% 13.20% -9.67% -0.67% -3.21%7.26% -4.74% 3.31% 0.90% 2.11% -0.79% 3.56% -2.48%

-3.71% 2.67% 2.08% 3.85% 9.28% -2.42% 1.66% -0.82%0.94% -1.28% 5.04% 3.65% 5.72% -2.86% 5.25% 2.57%7.16% 5.59% 7.19% 10.41% 8.90% -1.51% -3.74% -3.55%3.47% -3.50% 4.07% -0.88% 1.13% -3.43% 3.59% 1.05%7.94% 3.74% 6.37% 2.75% 15.68% -11.46% -11.82% -1.06%0.73% 11.17% -4.08% 0.15% 20.25% -17.20% -5.25% -4.88%1.15% 9.03% -2.98% 0.61% 20.03% -1.12% -1.87% 2.72%

-9.56% 8.62% -7.43% 5.05% 18.49% -13.28% -25.98% -3.37%2.54% 4.74% -2.19% 2.23% 5.58% 1.72% -5.05% 6.00%2.55% 8.92% -2.62% 2.38% 15.02% 6.02% -8.97% 0.76%8.18% 13.74% 1.49% -3.19% 6.99% -6.46% -2.28% 5.37%4.03% -1.32% 4.33% -1.11% 4.35% 0.15% -2.67% -5.56%1.21% -4.92% 6.34% 2.01% 1.88% 1.77% 2.47% -3.97%1.72% 6.08% 0.86% 3.27% 10.07% -13.48% -4.12% -8.13%2.74% 4.46% 13.66% -4.77% 9.80% -5.83% -8.93% -5.04%7.65% 7.20% -4.58% -1.18% 10.83% -5.24% -9.76% -6.41%4.67% 20.98% -7.44% 3.62% 28.64% -18.86% -7.89% -6.81%6.63% -3.08% 3.48% -1.35% 13.46% -6.32% -4.22% 1.15%3.86% -1.20% 5.37% 3.62% 7.53% -1.88% -6.62% -1.95%7.64% 2.20% 4.26% 1.63% 4.04% -2.60% -4.26% -3.76%

-0.39% 0.51% 1.33% 1.45% 1.10% -3.21% 2.46% -2.60%-0.25% 1.49% 6.72% 3.64% 5.51% -0.03% -3.03% -3.27%-0.24% -1.10% 7.82% 5.29% 8.90% -6.80% -0.33% -6.54%4.06% 4.36% 0.85% -0.51% 10.77% -7.18% -5.68% -2.15%

Page 44: Partial Correlation Network Graph VBA ( DJINDI )

6/30/2011 5/31/2011 4/30/2011 3/31/2011 2/28/2011 1/31/2011 12/31/2010 11/30/2010-5.25% -1.67% 7.92% 2.67% 4.24% 6.46% 2.34% -9.18%-5.69% -0.90% -3.76% 4.78% 1.91% 7.64% 17.20% 0.16%-6.70% -4.27% -7.87% -6.64% 4.04% 2.95% 21.86% -4.32%-5.32% -5.22% -0.50% -1.26% 3.91% 6.05% 13.42% -0.62%-5.32% -1.90% 6.39% -0.14% 6.53% 0.97% 3.87% -2.18%0.57% 5.12% 9.01% 3.74% 0.45% 1.49% -0.72% 4.25%

-5.13% 3.24% 6.24% -2.30% -0.13% -1.13% 5.33% -3.93%-3.76% 1.10% 5.62% 0.83% -7.29% 3.96% 0.25% -0.14%3.40% 4.90% 2.92% 0.53% 3.58% -4.03% -1.97% 1.47%0.58% -2.34% 0.25% -0.42% 1.89% 4.89% 16.06% -1.48%1.45% -0.97% 1.68% 4.57% 1.68% -4.44% 4.12% 3.72%

-6.23% -3.43% 0.02% -1.49% 12.54% 3.63% 3.86% 1.04%1.40% -5.44% 3.30% 0.19% 9.08% 1.61% 6.15% 0.25%

-7.09% -4.13% 2.17% -7.27% -12.27% 4.57% 5.58% -16.17%-2.31% -7.41% -1.45% -5.91% -4.52% 8.53% 0.60% -0.27%1.55% -0.53% 4.60% 0.74% 0.32% 10.39% 3.75% -1.06%

-1.55% -2.02% 14.74% -6.04% 0.90% 2.04% -0.61% 6.35%3.96% -2.87% 2.11% -4.50% -3.58% -0.64% 10.49% -4.70%

-0.48% 1.43% 3.09% 7.87% 3.12% -4.98% 5.75% -2.58%0.82% -2.25% -0.71% 4.38% 3.65% 0.87% 11.78% -1.43%0.50% -2.34% 3.97% 1.39% 5.52% 1.88% 2.76% 0.34%

-3.17% -3.97% 2.00% -4.13% 4.58% 10.09% 16.49% -1.20%0.84% -1.48% 5.83% 1.33% 3.27% 3.28% 4.59% 1.24%0.62% -8.33% 4.08% 8.18% 6.10% 4.07% 10.71% 7.64%

-1.97% -3.40% 1.82% 3.60% 10.11% 4.03% 12.71% -1.15%-2.50% -4.59% 4.58% -1.64% 6.57% 10.34% 5.12% 5.27%5.72% -0.56% 8.91% 6.45% 3.73% 13.70% -0.82% 1.32%

-1.13% 3.27% 10.91% -3.55% 3.72% -3.37% 0.49% -2.60%-2.94% 2.22% 8.89% 2.55% -1.81% -7.96% 5.66% -5.04%-3.96% 3.27% 3.27% 5.51% 6.71% 4.08% 7.44% -5.46%-1.83% -1.35% 2.85% -0.10% 3.20% 2.26% 6.53% -0.23%

Page 45: Partial Correlation Network Graph VBA ( DJINDI )

10/31/2010 9/30/2010 8/31/2010 7/31/2010 6/30/2010 5/31/2010 4/30/2010 3/31/20106.15% 8.86% -9.76% 8.60% -2.23% -10.87% -0.25% 14.97%8.54% 18.44% -8.27% 11.02% -13.50% -13.18% -5.64% 7.04%

-12.58% 5.19% -11.24% -2.32% -8.62% -11.75% -0.11% 7.23%-1.00% 4.69% -9.75% 10.20% -7.52% -7.04% -4.74% 6.62%5.95% 7.12% -2.89% 2.42% 0.31% -2.49% -5.93% 3.21%

-0.89% 5.43% -10.69% 12.44% 0.03% -13.55% 11.77% 8.53%6.81% 0.50% -2.44% 2.76% -1.81% -1.73% -1.00% -0.02%1.21% 6.73% -1.48% 6.49% -4.93% -5.19% -3.52% 3.41%4.37% 1.98% 5.56% 5.87% -1.50% -4.47% 5.81% 4.48%

-2.48% 13.88% -1.58% 1.56% -16.54% -3.88% 8.92% 4.45%4.81% 5.53% 1.36% 9.98% -1.68% -3.81% -2.83% 5.17%9.18% 1.70% -3.41% 6.96% -5.75% -9.29% 5.53% 11.76%5.97% 9.42% 1.23% 17.58% -4.37% -8.21% 6.98% 10.42%4.36% 9.56% -13.33% 8.24% -7.98% -14.00% 3.43% 7.00%

-0.05% 9.62% -16.48% 6.39% -5.80% -11.45% -2.23% 4.82%7.05% 8.94% -3.63% 3.99% -1.42% -2.40% 0.59% 0.85%4.44% 8.68% -13.58% 5.87% -9.19% -5.56% 2.51% 8.54%8.89% 4.34% -8.56% 12.16% -10.80% -15.14% 4.25% 2.17%1.19% 5.78% 4.24% 9.10% -0.47% -6.72% 2.49% 4.11%1.10% 10.38% 1.62% 5.59% 1.83% -4.78% -5.39% 7.22%

-2.87% 10.39% -7.60% 8.29% -0.40% -9.99% 6.10% 4.26%-1.45% 13.10% -10.16% 11.73% -11.21% -13.33% 3.63% 13.37%4.97% 9.23% -7.73% 9.53% -3.66% -9.57% 1.82% 7.23%0.44% 20.76% -6.58% 16.88% -1.13% -10.77% 9.00% 10.16%1.92% 9.41% -1.89% 12.30% -8.13% -8.45% 7.40% 4.88%7.61% 4.54% -0.25% 4.57% -5.60% -10.18% 1.17% 3.05%2.67% 11.10% 4.18% 7.22% -1.90% -4.12% -7.13% -3.50%2.87% 8.67% -0.92% -1.63% 1.30% -8.50% -1.39% 3.51%

-1.38% 5.80% 2.04% -1.47% 4.95% -3.86% -6.18% 2.35%1.40% 7.98% 7.23% 5.20% -6.39% -7.95% -2.48% -2.29%3.69% 8.76% -4.74% 6.88% -5.39% -8.20% 1.48% 5.88%

Page 46: Partial Correlation Network Graph VBA ( DJINDI )

2/28/2010 1/31/2010 12/31/2009 11/30/2009 10/31/2009 9/30/2009 8/31/2009 7/31/20094.93% 11.96% 3.26% 10.62% -11.72% 9.02% 16.85% 0.98%4.70% -21.00% 28.67% 1.08% -5.36% 8.93% 2.73% 13.74%9.74% 0.81% -4.92% 8.69% -13.83% -3.75% 18.92% 12.06%7.78% -6.45% -1.92% 1.72% -4.57% 0.83% 12.43% 13.49%3.78% 1.61% -4.20% 5.24% 1.13% -1.77% 17.06% 4.94%1.39% -6.65% -3.13% 20.08% 2.75% 0.78% 19.40% 21.87%2.82% 2.25% -2.77% 7.51% 0.90% 7.05% -2.54% 9.51%1.21% -0.04% -1.53% 9.80% 1.21% -3.51% 2.55% 2.97%3.15% -0.02% -1.28% 8.86% 2.70% 1.48% 3.04% -4.24%

11.39% -3.19% 6.60% 9.07% -5.83% -1.58% 5.23% 9.76%-2.82% -4.82% -0.34% 8.04% -0.70% 11.00% -2.13% 3.83%5.72% -8.38% 7.97% 10.37% -0.31% 5.43% 3.70% 7.65%4.72% -3.15% -2.65% 9.97% -0.98% 0.67% 4.51% 20.75%8.27% -6.12% 2.31% 2.60% -3.13% 8.99% -1.84% 17.98%7.88% -8.61% 5.17% 3.35% 0.54% 5.36% 3.68% 12.01%4.37% -6.50% 3.60% 5.23% 0.84% 1.32% 0.57% 12.93%6.66% -4.87% 6.27% 1.22% -2.33% -3.72% 6.35% 16.33%2.22% -7.56% 3.66% 6.52% 7.83% 4.35% 5.37% -1.05%

-2.12% -8.18% 4.06% 4.91% -3.49% 3.71% -0.69% 7.36%-1.66% -9.91% 5.31% 6.33% -0.71% -2.47% -3.21% 6.01%0.24% -2.64% 6.75% 5.94% -0.31% 2.35% 2.98% 17.36%0.47% 6.27% -4.93% 12.32% -13.17% 18.82% 3.79% 14.33%2.39% -2.77% 3.22% 10.04% 0.85% 2.64% 9.72% 4.84%9.21% -7.70% -2.41% 6.05% 8.06% 13.28% 2.83% 35.05%1.21% -6.32% -1.35% 2.86% 8.67% 0.70% 1.69% 4.87%1.54% -5.50% -9.16% 5.34% 4.47% -0.78% -1.16% 0.69%2.62% 8.26% 6.32% 10.47% 3.66% -10.59% -0.22% 12.33%0.97% -2.40% 2.50% 7.27% -3.04% 0.76% 0.06% 7.21%

-3.40% 4.49% 1.94% 17.07% -2.22% -1.29% 8.07% 7.33%-5.08% 2.61% 0.12% 7.69% 2.89% -0.89% 5.92% 6.13%2.85% -3.70% 1.78% 5.74% -1.98% 3.57% 3.36% 7.41%

Page 47: Partial Correlation Network Graph VBA ( DJINDI )

6/30/2009 5/31/2009 4/30/2009 3/31/2009 2/28/2009 1/31/2009 12/31/2008 11/30/2008-5.25% 13.09% 12.56% 13.16% -24.93% -0.84% 0.08% -18.06%12.15% 1.95% 23.51% 17.86% -18.28% -30.85% 4.64% -5.15%17.19% 26.25% 30.95% 73.20% -40.03% -53.25% -11.34% -32.77%-7.56% 11.79% 24.37% 16.36% -10.45% -18.10% -0.41% -23.25%1.64% -1.16% 1.23% 13.41% -6.43% -14.51% 4.26% 2.60%

-5.77% -1.47% 87.52% 13.04% -27.93% -9.02% -20.41% -15.24%-1.63% 5.06% 5.91% -2.25% -11.62% -11.22% -3.93% -0.30%-2.60% -0.78% -3.28% 6.41% 4.51% -15.96% 0.75% 0.14%-1.74% 10.70% -2.33% 4.42% -9.09% -6.71% 5.84% 2.32%2.98% -12.01% 11.72% 14.19% -2.98% -6.46% 0.69% -2.03%

-1.55% 14.17% -2.03% 8.73% -4.39% -5.64% -3.37% 7.24%-3.66% 10.61% 20.58% 8.31% -18.94% -8.84% 2.24% -13.07%

-10.00% 3.53% 24.94% 19.05% -16.86% -9.24% 0.94% -20.64%0.84% -4.25% 15.17% 15.11% -2.70% -8.15% -1.44% -6.90%

12.77% -4.53% 12.24% 10.74% -16.45% -4.24% 3.07% -7.83%-1.75% 3.52% 6.52% 5.27% 0.96% 8.90% 3.13% -11.73%5.28% 0.43% 5.04% 17.92% -0.18% -12.07% 6.29% -13.16%

13.81% 3.73% 10.32% 13.77% -4.96% -12.02% -3.82% -8.85%0.25% -3.26% 3.27% 5.98% -3.44% -12.34% -0.22% 6.71%5.02% -3.56% 1.88% 5.83% -4.46% -10.62% 3.83% 10.07%5.24% 0.00% 15.85% 9.38% -14.58% -6.50% -14.04% 4.94%

-12.39% 6.60% 25.11% 18.85% -27.79% -25.12% -3.88% -11.98%-1.24% 8.51% 13.63% 5.27% -14.20% -10.47% 10.44% -11.03%-6.84% -0.34% 28.89% 13.61% -20.22% -30.20% 9.00% 7.29%-0.64% 1.84% -1.69% 10.76% -13.12% -4.66% -6.38% 6.83%0.80% 4.64% -2.10% 0.29% -10.77% -4.20% -0.40% 8.77%

-6.06% 13.10% 12.38% 6.63% -30.64% 6.50% 26.64% -11.46%2.97% 6.27% -0.46% 5.20% -12.60% -3.59% 2.14% -3.71%2.78% 13.78% -9.36% 12.40% -15.26% -6.08% 15.40% -13.65%

-1.21% 14.98% -1.88% 10.59% -13.77% -17.65% 7.81% -5.60%0.02% 5.31% 9.39% 8.54% -10.99% -8.57% 0.78% -7.48%

Page 48: Partial Correlation Network Graph VBA ( DJINDI )

10/31/2008 9/30/2008 8/31/2008 7/31/2008 6/30/2008 5/31/2008 4/30/2008 3/31/2008-8.60% -12.52% 7.93% -7.01% -20.59% -2.01% 14.11% -10.17%

-49.07% -29.73% -4.30% -5.23% -12.24% 16.68% -3.08% -2.90%-30.95% 14.66% -5.36% 37.79% -28.42% -9.40% -0.97% -3.02%-11.00% 21.33% -5.25% 19.73% -20.20% -9.77% 11.85% 5.65%

-5.86% 3.06% 0.10% 1.65% -12.35% -1.16% 5.32% 3.74%-22.00% -10.70% 6.88% -1.02% -18.73% -3.47% 10.27% 3.36%

-6.80% -0.11% 6.56% 8.35% -7.93% -1.49% -3.76% 5.89%-6.81% 1.38% 1.17% 4.30% -2.67% 0.00% 10.07% 6.75%-6.10% -0.48% 4.32% 6.34% -4.60% -0.45% 6.83% 3.07%-8.89% -3.73% 13.79% 1.77% -13.72% -4.99% 2.98% 6.30%

-16.67% 2.29% 1.11% -0.93% -8.63% -2.75% -3.26% 4.77%-15.57% -5.13% 6.60% -2.75% -7.14% 3.64% 3.35% -3.21%-20.51% -9.32% 2.37% 2.14% -10.49% -1.22% 4.61% 0.71%-21.22% -6.22% 9.40% -5.49% -12.94% 4.21% 6.42% -1.23%-17.21% -1.27% 4.73% 1.32% -5.89% 1.54% 1.49% -4.25%-20.52% -3.92% -4.52% 7.97% -8.42% 7.67% 4.83% 1.12%-14.45% -18.09% 3.71% 3.29% -7.35% 4.77% 5.12% 6.07%-16.35% -2.20% 6.55% -6.52% -2.83% -0.35% 0.47% 4.36%

-2.62% -12.70% 3.79% -7.41% -15.55% 3.09% 2.09% 9.96%-6.06% -8.64% 3.17% -2.65% -7.99% 0.00% 7.28% 0.36%-5.87% -4.59% 2.43% 1.14% -10.27% 1.51% -2.84% 0.95%

-23.50% -8.01% -0.67% 5.99% -12.16% -6.04% -11.65% 11.67%-8.48% -8.43% 3.01% 3.69% -13.15% -1.55% 5.31% -2.39%

-35.25% -15.74% 1.73% -5.26% -10.67% 0.93% 5.07% 8.24%-9.56% -4.44% 2.86% -14.70% -0.01% 3.80% 12.65% -1.50%-4.57% -2.93% -0.01% -8.74% -0.72% -4.20% 10.04% -2.79%-6.57% -16.60% 8.42% 6.99% -23.27% 4.85% -5.03% -26.01%

-11.46% -1.63% 3.53% 6.42% -3.59% 0.18% 3.42% 4.69%-1.93% -10.56% 8.42% -12.70% -2.30% 2.42% 0.23% -13.56%-3.94% -3.54% 4.08% 6.83% -9.72% -2.24% -3.88% -6.06%

-16.94% -9.08% 1.22% -0.99% -8.60% 1.07% 4.75% -0.60%

Page 49: Partial Correlation Network Graph VBA ( DJINDI )

2/29/2008 1/31/2008 12/31/2007 11/30/2007 10/31/2007 9/30/2007 8/31/2007 7/31/20070.01% -4.89% -5.49% -5.80% -6.10% 8.57% -6.19% 7.57%

12.82% -9.46% 0.48% -8.12% 1.63% 7.10% -3.93% -5.77%-10.00% 7.02% -9.27% -4.44% -3.95% 0.45% 6.87% -3.01%-14.24% 9.55% -4.32% -2.94% 3.41% 2.93% 1.17% -8.46%

-3.51% -10.59% 1.85% 1.70% 3.72% 0.18% -0.46% -5.10%-13.91% -5.22% -11.80% -3.24% 2.93% 1.27% 0.15% -4.08%

1.15% -10.44% -0.78% 6.45% -0.68% 7.70% 5.57% 1.67%-2.27% 6.76% -0.33% 5.95% 3.58% 0.03% -4.55% -4.49%1.68% -9.05% 0.76% 0.44% 9.67% 10.60% 2.88% -5.68%

-13.35% 13.76% -5.69% -8.60% -2.87% -15.32% 3.73% -5.55%-0.91% -3.86% -1.20% 1.10% 7.48% 7.52% 3.20% -0.36%8.62% -7.54% -1.60% -4.25% 0.69% 2.35% 1.81% -3.33%3.65% 2.48% -4.45% -5.96% -0.13% 1.68% 5.11% -8.09%

-0.42% -9.51% -3.37% -15.24% -0.22% 3.77% 10.42% 3.80%9.26% -13.39% -1.17% -0.99% 3.78% 1.06% 7.22% 3.15%6.71% -0.91% 2.78% -9.10% -1.43% 0.95% 5.83% 5.13%

-4.78% -20.86% 2.20% -2.63% 4.01% 0.46% 9.52% -0.50%-16.23% -8.43% 5.95% -8.42% 24.94% 2.55% -0.59% -1.61%

-9.49% -6.48% 8.75% -8.57% -0.38% 6.15% 1.81% -4.82%-6.46% -10.24% 1.13% -6.22% 5.03% 5.76% -1.75% 4.54%-0.95% -5.53% 1.27% -3.02% -7.71% 2.84% 2.89% 2.45%-5.43% -4.63% -2.35% -6.96% -0.59% 7.23% 0.28% 1.25%-3.35% -4.28% 2.37% -1.96% -4.84% 7.85% 2.72% 2.88%1.89% -1.62% 0.92% -3.63% -4.42% 3.52% -3.85% 1.06%4.85% -10.80% 6.34% -3.44% -2.22% 6.62% 3.67% 1.21%1.97% -8.52% 5.07% -2.70% -0.61% 7.97% 1.11% 1.49%

-8.59% -12.63% 5.82% 11.91% 1.49% -3.17% 3.27% -5.30%-1.22% -5.34% -1.54% 4.60% -0.82% 6.34% 2.81% -1.81%-3.92% -20.67% -1.45% 1.89% 12.70% 3.83% 1.05% -0.31%-3.31% 2.79% -4.32% -2.29% 0.73% -1.65% 6.96% -8.07%-3.48% -6.12% -0.86% -4.40% 1.48% 3.58% 1.29% -3.20%

Page 50: Partial Correlation Network Graph VBA ( DJINDI )

6/30/2007 5/31/2007 4/30/2007 3/31/2007 2/28/2007 1/31/2007 12/31/2006 11/30/2006-4.41% 8.56% 4.60% 1.89% -2.19% 0.81% 0.34% 11.26%-1.82% 16.90% 4.68% 1.49% 3.43% 8.17% -3.23% 8.37%-3.59% 0.74% -0.25% 0.38% -2.26% -1.52% -0.86% 1.02%-6.53% -0.52% 8.46% -2.05% -3.02% 6.20% 4.37% -2.44%-0.71% 0.13% 4.51% 2.52% -0.21% -5.27% 4.14% 1.31%-5.86% 7.12% 7.85% -0.82% -2.33% -3.79% 3.33% 1.56%-3.71% -1.31% 2.52% -0.52% -2.13% 1.42% 2.36% -0.95%1.07% -0.21% 2.06% -2.34% 1.29% 3.29% 0.52% -6.44%0.40% 4.70% 7.17% 3.13% -1.49% 0.03% 5.63% 2.55%1.81% 2.65% 3.09% -6.67% -2.83% 1.43% 5.78% 2.33%

-0.63% 1.50% 8.78% 3.52% -2.49% -0.79% 3.05% 0.92%-2.32% 1.32% 1.59% 0.55% -2.62% 2.63% 4.63% 5.04%-2.82% 7.19% -0.53% -2.56% 3.10% 1.74% 3.81% 3.26%3.47% 0.66% 4.76% -1.60% -2.54% -2.62% 1.58% 11.49%

-2.21% 8.48% 4.97% 2.21% -9.10% 5.09% 4.59% 1.86%-1.26% 4.69% 8.43% 1.43% -5.98% 2.05% 5.69% -0.12%6.99% 3.71% 12.38% -3.65% -4.74% 3.48% -5.37% 0.79%

-3.98% 2.84% 7.41% -1.05% -8.41% 3.35% 1.71% 2.63%0.39% 6.77% -0.93% 7.15% -2.21% 6.39% 5.40% -0.97%

-5.44% 14.03% 1.76% 1.38% -2.90% 4.58% 6.57% -2.01%-1.33% 6.87% 8.28% 3.17% 0.33% -4.65% -4.33% 3.90%2.60% 1.94% 4.26% 1.27% -2.38% -3.11% 6.22% 0.50%0.53% 5.51% 3.27% -0.98% -3.11% 8.80% -3.12% -1.42%

-0.35% 8.20% 8.82% 4.03% 0.56% 4.99% -1.13% 2.17%3.37% 5.51% 5.18% 7.94% -5.31% -0.88% 1.67% 8.43%0.86% 5.22% 5.21% 5.27% -2.85% -3.31% -0.22% 8.01%

-6.63% 3.22% 0.16% 1.58% -0.16% -2.74% 9.48% 0.62%-2.61% -0.85% 6.59% -4.26% -5.23% 1.18% 0.17% -1.67%-4.35% 1.97% 16.45% 0.91% -1.33% 2.64% -1.23% -2.01%-6.99% 5.01% 4.72% 1.21% -3.84% 1.33% -5.79% 4.07%-1.78% 3.25% 4.33% 1.00% -2.18% 1.41% 1.26% 1.65%

Page 51: Partial Correlation Network Graph VBA ( DJINDI )

10/31/2006 9/30/2006 8/31/2006 7/31/2006 6/30/2006 5/31/2006 4/30/2006 3/31/20061.28% 5.27% -2.88% -5.48% -1.61% 0.11% 7.07% 7.21%3.13% -1.93% -4.04% -7.45% 2.00% -5.69% 10.57% 4.23%0.57% 4.06% 0.96% 7.14% -0.61% -2.05% 9.61% 0.42%1.75% 2.84% 0.08% 9.52% -1.50% -6.04% 9.88% 1.20%9.06% 7.43% -4.15% 2.74% 1.90% -0.03% 5.34% -2.23%3.37% 6.73% 0.92% -1.90% -2.10% 1.02% 2.63% -2.46%2.79% 0.13% 10.14% 1.64% 2.50% -6.82% 1.57% -3.84%

-0.09% 10.29% 0.88% -7.64% -0.57% 7.97% -4.66% 4.52%7.17% 8.97% 1.42% 5.34% 1.30% -4.05% 0.61% -1.55%2.93% 6.22% -1.22% -3.01% -5.72% -4.54% -5.61% 0.72%4.56% 0.38% 0.71% 3.43% -1.55% 4.93% 0.17% 0.53%1.79% 4.26% -0.15% -1.03% -1.64% 9.08% 0.24% -0.36%6.92% 7.16% 1.76% -4.68% -2.18% -2.77% 4.47% 4.91%5.02% 4.53% 22.94% -8.45% -0.74% -6.05% -3.35% 7.08%5.58% 0.59% 14.56% 0.72% -1.91% -0.27% -1.32% 0.53%

12.68% 1.20% 5.01% 0.77% -3.86% -2.60% -0.16% 2.78%3.74% 5.10% 9.34% -5.28% 5.43% -9.31% 2.69% -5.55%4.97% 6.40% 7.24% 3.25% 2.89% -5.86% -11.25% 1.29%6.28% 4.56% 3.80% 8.83% 7.02% -0.54% -1.90% -1.96%0.74% 5.54% 4.01% 2.27% 7.30% -5.53% -1.87% 1.05%5.94% 3.79% 2.50% -12.83% -3.46% -1.54% 12.87% 2.85%

-0.53% 4.38% 4.21% -0.84% -3.08% -0.96% -0.51% 5.81%3.75% 1.01% 1.29% -1.95% 1.45% -0.06% 8.35% -0.89%

-7.32% -0.83% -6.39% -4.43% 2.11% -3.69% 5.81% -1.74%3.61% 0.70% -1.33% 5.99% 3.80% -1.18% 5.27% 2.65%6.44% -0.85% 0.37% 10.40% 0.74% -2.96% 3.64% 2.52%

-0.87% -5.28% 8.62% 6.80% 1.85% -11.60% -10.97% -4.02%3.80% 0.43% 3.96% 4.40% -0.51% 3.39% -1.04% 2.74%8.40% 3.34% 1.63% 10.55% 9.40% -2.16% -2.27% 2.16%

-6.04% 2.91% 7.01% 10.76% -0.80% -5.71% 1.64% -4.84%3.15% 2.46% 2.13% 0.51% 0.01% -3.09% 1.22% 1.11%

Page 52: Partial Correlation Network Graph VBA ( DJINDI )

2/28/2006 1/31/2006 12/31/2005 11/30/2005 10/31/2005 9/30/2005 8/31/2005 7/31/20056.86% -2.75% 3.01% 5.89% -4.87% 1.39% 1.91% 0.02%

-6.49% 6.53% 7.88% 13.53% -0.52% -8.84% -4.00% 7.34%3.68% -4.18% 0.58% 6.05% 3.91% -2.18% -0.14% -4.41%3.52% 0.99% 3.78% 4.43% 9.03% 0.11% -3.54% 0.44%

-5.29% 1.59% -3.50% 3.32% 0.38% 4.88% -2.31% 11.38%2.72% 2.15% 0.09% 3.31% -0.76% 3.97% 0.45% 3.32%1.18% 2.82% 1.21% 2.14% -5.34% 7.18% -0.28% 6.01%

-1.63% -1.46% -3.32% 2.63% 7.98% -2.53% -8.62% 2.39%-0.32% 3.83% -0.36% 9.29% -5.62% 3.21% 4.11% 12.30%3.95% 0.18% -3.13% 2.06% 7.61% -5.41% -7.11% 11.87%1.42% 2.61% -5.57% 0.46% -0.97% -1.19% 0.57% 4.82%

10.60% 5.59% -2.83% 2.30% 1.02% -4.22% -1.75% 1.82%3.72% -7.88% -0.58% 3.46% 6.42% -1.00% -6.48% -0.78%9.00% 8.43% -2.37% 0.54% -2.67% 1.71% -7.97% 0.38%5.22% 8.91% -3.23% 5.78% -3.95% 5.47% 12.77% 4.74%

-1.05% -1.11% -7.53% 8.83% 2.08% -0.50% -3.17% 12.48%-2.64% -14.82% -6.45% 13.92% -4.67% -4.14% -4.98% 4.30%-4.23% 7.64% -5.55% 8.02% -0.09% -6.05% 7.26% 3.09%6.32% 7.37% -1.68% 4.42% 0.86% -0.43% -1.50% 4.31%6.44% 6.51% -5.85% 1.52% -2.41% -0.05% -4.43% 0.22%1.80% -6.14% -1.24% 3.84% 3.56% 3.11% -4.58% 3.74%1.10% -6.55% -1.19% 5.33% 0.73% 0.85% -2.60% -0.41%0.60% 4.41% 3.84% 5.42% -1.09% 3.68% -0.95% -1.26%7.64% 18.00% -0.02% 9.88% -10.10% 5.89% 2.93% 13.66%

-4.13% 4.60% -0.94% 1.22% -11.84% 5.42% 6.62% 3.74%-4.89% 11.70% -3.19% 3.88% -11.64% 6.08% 2.44% 2.23%-2.00% -4.39% 3.82% 3.41% 2.99% 9.14% -1.54% 0.30%0.76% -4.26% -2.67% -0.88% -1.05% -0.18% -0.37% -1.60%1.05% 8.46% 8.19% 5.50% 3.71% -3.62% -7.87% 0.85%2.95% 10.15% 10.00% -1.66% -12.95% -2.02% -3.16% -3.90%0.05% 2.55% -0.10% 3.52% -1.77% 0.69% -1.12% 3.60%

Page 53: Partial Correlation Network Graph VBA ( DJINDI )

6/30/2005 5/31/2005 4/30/2005 3/31/2005 2/28/2005 1/31/2005 12/31/2004 11/30/20043.29% 7.81% 1.81% 6.35% 9.13% -2.24% -3.37% 7.78%

-3.58% -6.12% -4.51% -5.39% 9.37% -6.02% -7.59% 5.05%-0.56% 2.85% 2.12% -4.56% 0.62% -1.34% 2.55% 3.32%-1.18% 0.72% 3.60% -5.34% -2.09% -3.44% 3.60% -2.46%4.96% 5.83% -2.52% -4.17% 2.08% 1.28% 2.22% 7.41%

-0.94% 2.18% 2.59% -4.91% 1.51% -5.16% 1.19% 4.97%-4.35% 1.85% 2.69% -0.16% -0.28% -2.92% 2.98% 4.49%2.05% 0.52% -5.95% -2.61% -1.50% -0.80% 1.69% -3.44%

-10.30% 5.57% -5.88% -5.88% 2.13% 1.06% 4.29% 7.41%-0.91% 11.24% -7.50% -4.19% -3.02% -3.46% 2.36% 1.84%-5.88% 2.76% 4.20% -2.00% 3.15% -0.36% 5.95% -2.68%-8.24% 3.95% -8.11% 2.81% -2.39% 2.98% 4.33% 6.59%-7.52% -0.49% -8.07% -3.86% 12.86% -3.04% 8.23% 6.53%-1.66% 12.33% -3.48% 2.74% -3.45% -6.61% 3.05% -2.43%4.77% 10.01% -6.74% 5.92% 6.18% -6.56% 5.25% 7.16%

-1.79% -0.82% -16.42% -1.30% -0.70% -5.24% 4.60% 5.21%-3.46% 14.99% 1.27% -3.19% 7.22% -4.02% 4.53% 0.72%-3.74% 2.30% 4.68% -3.94% -3.96% -1.66% -0.31% 6.80%1.59% -1.75% 1.78% -1.50% 1.27% -6.62% 2.36% -0.36%

-2.34% -1.16% 1.97% -1.29% 1.09% -11.29% -1.75% 5.45%-5.67% 0.78% -10.77% 2.09% 0.01% 2.79% 3.11% 3.06%-4.45% 0.80% 0.36% 2.45% -1.97% -1.01% 3.86% 3.61%-3.75% 5.35% 0.05% 1.80% -0.38% -2.57% 5.89% 5.52%1.27% 6.89% -3.28% -3.79% 6.68% -8.23% 6.53% 13.64%3.99% 4.36% -10.82% -6.08% 14.89% 3.60% -3.82% 3.69%2.26% -0.95% -4.31% -5.87% 23.30% 0.65% 0.02% 4.69%7.33% 2.81% -0.92% 4.67% 2.54% 1.00% 6.25% 14.43%

-3.12% -1.76% 2.20% 2.38% 1.82% 2.02% 5.14% 3.81%-3.92% -4.33% 4.75% 3.35% 13.01% -12.76% 16.33% -10.53%-1.15% 3.42% 3.43% -0.11% 9.62% -10.13% -3.17% -3.50%-0.01% 3.00% -2.01% -1.91% 1.89% -2.53% 3.25% 3.86%

Page 54: Partial Correlation Network Graph VBA ( DJINDI )

10/31/2004 9/30/2004 8/31/2004 7/31/2004 6/30/2004 5/31/2004 4/30/2004 3/31/2004-3.33% -1.15% 3.30% -0.66% 11.54% 7.78% 3.96% -5.31%-3.25% 3.77% 1.54% -3.00% 5.49% 2.31% -11.37% -7.42%3.37% -2.71% 5.82% 0.45% 2.80% 3.28% -0.61% -0.19%

-2.03% 0.38% 6.06% -2.88% 5.24% -2.03% -9.64% 2.28%2.75% -4.10% -6.43% -8.56% 2.72% -2.44% 2.18% -5.71%3.37% 2.89% -0.47% -2.20% 1.54% 3.57% -5.59% -2.76%

-4.98% -3.30% 7.33% -3.78% 0.99% 1.91% 1.36% 2.32%1.35% 1.03% -0.42% 0.99% -5.81% -1.99% -4.51% 0.44%4.01% 3.74% -1.77% 5.80% -1.55% -3.05% -4.70% 0.99%4.79% 7.24% 8.67% -4.19% -1.80% 2.08% -5.82% 3.08%1.52% -9.91% 1.92% -13.11% -1.20% 1.52% 0.56% 1.18%

11.82% 0.45% -2.74% -9.44% 8.62% 1.91% -7.82% -5.83%0.16% 1.29% -0.58% -3.50% 2.84% 1.42% 1.71% -6.35%6.14% -3.49% -10.33% -11.74% 5.94% 7.00% -11.32% 1.79%

-0.47% 5.27% -11.23% -4.52% -0.26% 7.80% -13.74% 0.93%4.68% 1.23% -2.52% -1.23% -0.49% 0.67% -3.99% -4.83%

10.93% -5.76% -12.53% -11.65% -3.35% 11.16% -5.44% -6.85%1.18% 1.29% -3.90% -0.27% 8.92% 0.35% 4.82% -6.01%

-1.49% 0.60% 1.76% 5.86% 2.37% -4.83% 2.71% 2.24%0.20% 0.36% 1.80% 7.64% 4.67% -8.38% 4.37% -4.68%

-3.00% -2.90% 0.45% -8.50% 6.45% -1.80% 5.64% 4.94%1.62% 3.01% -1.36% 2.63% 4.74% 3.89% -1.89% -6.14%

-0.61% -0.56% 0.82% 2.22% 8.12% -1.50% -0.03% -6.31%0.63% 10.66% -1.09% -6.99% 5.43% -3.07% -1.24% 4.36%

-1.10% 10.05% 2.78% 1.62% 4.11% -0.41% 4.23% -0.66%1.86% 4.82% 0.18% 4.25% 2.67% 2.30% 2.30% -1.38%

-1.81% 11.50% 5.15% 1.04% -4.61% 6.15% -4.60% 3.98%3.64% -3.04% 5.65% -0.76% -0.02% 3.64% 6.54% -5.91%

-5.13% -25.98% -0.83% -4.54% 1.20% 0.62% 6.36% -7.36%-5.41% -6.33% 2.78% -6.78% -3.00% -0.69% 2.01% -4.36%1.40% 0.94% 0.23% -3.43% 1.80% 1.21% -1.68% -1.64%

Page 55: Partial Correlation Network Graph VBA ( DJINDI )

2/29/2004 1/31/2004 12/31/2003 11/30/2003 10/31/2003 9/30/2003 8/31/2003 7/31/20034.28% -0.92% 9.76% 0.19% 12.14% -8.21% 13.51% -3.51%

10.13% -10.08% 15.84% 4.43% 20.64% -8.37% 3.42% 8.91%0.58% 1.27% 7.74% -0.38% -2.95% -0.54% -4.01% 4.46%5.46% 6.87% 3.78% -1.42% 5.59% 0.34% -2.39% 3.58%1.46% 6.25% 7.68% -2.69% 2.94% 7.38% -1.16% -3.67%3.05% 7.48% 5.73% -2.60% 4.40% 0.00% 1.99% 5.92%1.41% 1.66% 3.77% -2.07% 6.41% 6.32% -0.66% -0.94%

10.61% 1.52% -4.50% -5.61% 5.72% -5.62% 5.84% 4.16%9.93% 3.65% -3.14% 4.15% 6.17% 5.04% -2.59% 4.29%2.39% -0.07% -3.26% -0.84% 16.41% -0.78% 3.08% -5.77%1.46% -2.99% 9.12% 0.72% 8.00% -0.78% -3.23% -3.13%

10.55% 2.86% 2.03% 1.96% 12.27% -1.61% -6.45% 10.98%3.51% -4.33% 10.71% 3.50% 0.99% -10.58% 2.62% 5.54%

-9.94% 6.13% 6.72% 8.49% 6.84% 2.33% -1.81% 16.08%-4.55% 3.60% 6.03% -2.56% 15.23% -2.48% -5.85% -0.58%-2.60% 7.07% 2.37% 1.36% 1.31% 7.71% 1.13% -1.52%-4.20% -4.74% -4.45% 1.85% 19.74% -3.75% 14.92% 19.65%-4.06% 1.05% 6.46% -1.65% -5.44% 4.81% 0.40% 3.02%-5.83% -1.04% 11.96% -2.94% 9.66% -0.94% -3.90% -7.18%3.99% 6.19% 6.81% -2.23% 4.78% -8.18% 0.94% -10.44%

-0.92% -6.98% 7.57% 0.65% 14.19% -3.04% 2.09% 8.70%-2.69% 8.53% 8.76% -1.17% -2.69% 1.43% 3.98% -0.81%-3.23% 0.81% 10.58% 1.60% 9.59% -3.71% 7.04% 6.21%-3.04% -5.47% 9.18% 3.79% 6.92% -4.16% 6.48% 21.95%3.19% -0.06% 15.04% 2.07% 3.97% -1.93% 2.04% -0.11%4.03% -0.51% 13.26% -0.34% -0.07% -2.93% 6.70% -0.93%1.85% 4.63% 7.95% 5.91% 1.12% 1.82% -5.10% 3.66%1.35% 3.40% 4.79% -1.57% 1.62% -0.10% -3.83% 0.18%0.99% 3.05% 14.78% -8.24% -12.58% 1.33% -3.82% -8.72%0.51% 3.69% 5.22% 6.77% 4.02% 1.51% -9.90% -2.31%1.22% 1.73% 5.08% 0.71% 5.50% -1.19% 1.79% 1.62%

Page 56: Partial Correlation Network Graph VBA ( DJINDI )

6/30/2003 5/31/2003 4/30/2003 3/31/2003 2/28/2003 1/31/2003 12/31/2002 11/30/200211.90% 13.09% 8.83% -9.06% -12.27% -4.26% -3.10% 15.08%

3.61% 7.28% 19.16% -5.49% 4.50% -13.22% -10.83% 16.57%7.44% 0.18% 10.80% -2.55% -1.16% 0.70% 0.20% 0.39%4.04% 11.96% 25.53% 4.53% -2.82% -1.34% -4.63% 21.28%0.60% 6.52% 7.97% 3.95% -5.45% -4.12% -7.81% 13.53%0.35% 10.05% 14.21% -1.06% -5.49% 0.52% -9.00% 7.05%

-2.88% 2.18% 1.38% 8.77% -4.33% 0.06% 1.67% -4.44%2.19% -6.59% 8.25% 8.43% 0.55% -5.35% -6.15% 0.65%

17.81% 9.48% 18.31% 6.20% -4.38% -11.46% -13.05% 3.56%2.12% 15.49% 15.47% 4.18% 12.19% -12.96% -8.82% -8.58%2.35% 12.78% -0.19% 1.24% -0.58% -7.72% -3.97% -1.36%0.46% 5.32% 9.65% -0.20% -2.54% 7.27% -16.67% 18.67%

-1.18% -0.13% 9.46% 5.95% -2.22% -10.67% -4.97% 9.07%2.34% 9.42% 15.52% -7.13% 4.58% 2.06% -12.25% 33.43%9.62% 19.61% 4.87% -1.43% -8.94% 0.26% -10.48% 23.32%

-6.28% 3.89% 8.24% 0.62% -0.12% 0.89% -10.83% 10.31%-0.06% 13.30% 12.95% -5.57% 10.30% 0.56% -25.43% 20.82%4.16% -3.75% 5.65% 2.16% 0.17% -8.21% -10.37% 7.89%0.32% 8.98% 18.31% -3.63% -14.88% -9.05% -4.87% 11.07%4.23% 1.25% 6.91% 2.24% -9.68% -0.31% -7.51% 10.94%1.98% 0.87% -3.07% 3.73% 1.17% 1.01% -5.04% 2.79%0.57% -2.57% 15.53% 6.00% 4.79% -5.01% -9.52% 7.41%3.77% 10.90% 6.97% -1.37% -7.51% 2.65% -0.82% 1.67%6.71% -0.85% 7.62% 4.68% 6.88% -3.09% -8.38% 22.13%1.77% 14.10% -2.82% 0.73% 0.74% -3.15% -0.79% 0.17%

-1.32% 4.13% 0.71% 2.74% 0.29% -2.26% 0.40% 4.08%4.75% 4.13% 0.50% 10.59% -5.66% 5.26% 2.52% -10.44%

-4.87% -3.16% -2.60% 10.33% -1.77% -0.20% -5.79% -2.63%9.65% -4.47% 6.23% 4.57% -4.79% -2.15% -4.11% 9.51%

10.08% 1.34% -1.32% 4.53% -1.79% -0.19% -3.04% -0.37%1.13% 5.09% 8.10% 0.84% -1.70% -2.74% -6.03% 5.71%

Page 57: Partial Correlation Network Graph VBA ( DJINDI )

10/31/2002 9/30/2002 8/31/2002 7/31/2002 6/30/2002 5/31/2002 4/30/2002 3/31/2002-12.85% -7.92% -10.31% -7.73% 5.50% -4.01% -7.57% 4.99%14.30% -23.08% -7.26% -17.94% -5.22% 3.24% -9.82% 0.46%

9.42% -8.14% 5.37% -5.47% -6.44% 4.58% 6.57% 6.37%11.18% -28.06% 5.73% -25.60% -5.63% 2.39% -0.58% 21.90%14.23% -4.65% -2.54% -19.81% -8.00% -14.44% 8.63% -5.62%16.91% -13.52% 2.25% -2.71% -14.56% 3.66% 0.32% 12.38%-0.61% 0.84% -0.38% 0.15% 0.50% -0.78% 0.61% 6.25%8.75% -7.80% 8.74% -10.60% 1.81% -3.15% -8.88% -1.02%2.53% -25.69% -3.99% -13.00% -4.97% 5.42% 2.32% 6.35%

10.66% -20.63% 6.61% -15.92% -11.77% -10.10% -4.62% -2.68%-3.08% -5.60% 2.12% -10.82% 1.20% 0.10% 6.20% 10.75%10.30% -3.46% -11.53% -6.17% -17.54% -1.15% 0.45% 0.35%14.34% -10.51% -3.02% -5.61% -3.46% 4.17% -5.64% 0.67%

6.74% -24.19% 4.80% -5.44% -11.64% 7.73% -13.44% 18.63%35.39% -12.56% -5.11% -7.43% -19.57% 11.67% -4.69% -10.47%35.39% -22.66% 7.31% -2.22% -10.50% -3.76% -19.47% 6.00%24.59% -16.73% -11.13% 2.81% -33.83% -3.42% -5.89% 6.50%22.24% -10.85% 2.25% -12.29% 7.46% -2.57% -13.34% 3.34%29.33% -18.77% -10.53% -8.56% -11.04% 10.41% -16.46% -1.06%39.25% -11.49% -6.05% -17.01% -6.63% 7.24% -12.24% -1.50%15.43% -11.98% -0.23% 2.31% -1.95% 0.21% 9.37% -2.48%

2.43% -17.67% -6.37% 10.84% -6.13% -1.30% -15.62% -2.87%9.19% -4.89% -14.21% 2.36% -1.43% -1.48% -5.44% 1.70%

10.79% -14.74% -2.39% -7.91% -6.37% -4.32% -3.31% 2.42%-2.36% -9.64% 3.11% -15.24% 1.43% 1.39% -3.94% 6.89%5.49% -9.99% -2.97% -10.14% 2.48% -0.03% -8.36% 6.12%4.27% -1.28% 0.76% -4.25% 0.83% 3.43% 14.88% 5.48%8.63% -0.41% 3.62% 0.66% -14.83% -3.60% -1.68% 6.65%

18.68% -8.85% 1.86% -2.05% -10.74% 5.07% -5.63% -5.59%9.44% -12.26% 2.67% -7.56% 1.16% -4.47% -8.52% -2.99%8.64% -11.00% 0.49% -7.90% -7.25% -0.91% -6.14% 3.67%

Page 58: Partial Correlation Network Graph VBA ( DJINDI )

2/28/2002 1/31/2002 12/31/2001 11/30/2001 10/31/2001 9/30/2001 8/31/2001 7/31/200112.70% 5.61% 10.45% 8.23% -2.69% -34.57% -12.25% 5.28%

5.24% 0.84% -7.90% 19.64% 4.52% -18.64% -2.46% -1.91%2.41% 0.13% 3.57% 4.05% 0.97% -4.15% -3.34% 5.98%

-14.08% -5.44% -3.64% 6.66% 4.56% -13.34% -9.00% -1.89%9.42% 1.65% -5.99% 2.56% 11.36% -1.23% -4.15% -13.51%1.67% 0.67% 8.47% 11.83% 1.52% -20.20% -9.68% 4.15%3.79% 3.73% 2.14% 5.00% 1.89% -1.82% 4.40% 11.94%3.37% 4.22% 4.50% 7.28% 3.85% 3.17% -14.05% 14.54%

-3.97% 2.69% -1.42% 3.87% -3.96% -9.63% 3.05% 7.70%-0.18% -1.81% 9.34% 22.20% -0.36% -16.51% -8.69% 6.62%8.29% -7.18% 0.40% -1.57% 2.23% -3.74% 9.12% -0.89%9.22% 1.62% 2.28% 10.11% -0.13% -26.80% -3.46% -8.81%6.88% 3.91% -4.12% 11.82% 6.56% -8.40% -3.52% -11.23%

-27.95% 9.35% -11.38% 20.81% 38.87% -25.38% -15.07% 5.59%-9.01% 7.61% -6.23% 30.64% 4.92% -30.57% -5.87% -13.79%-8.94% -10.81% 4.65% 7.10% 17.82% -8.23% -4.88% -7.31%

-18.47% 11.40% -3.69% 33.81% 19.46% -26.89% -6.15% 1.93%-8.40% -3.86% 3.20% 10.43% 13.60% -10.30% -13.78% -9.35%1.07% -3.76% 4.78% -1.93% -18.66% 15.16% -9.15% 13.15%0.95% -1.56% 0.98% -5.64% -7.30% 8.22% -7.68% 1.94%6.83% -6.11% 3.18% 10.34% 6.07% -5.46% -6.45% -1.94%4.13% -7.34% 4.60% 5.72% -2.11% -8.66% -5.97% -10.92%6.55% 6.31% 7.39% 12.14% 15.89% -32.01% -6.52% 0.17%

10.41% -3.03% 10.13% 6.04% 0.58% -10.41% -9.22% 10.79%1.66% -6.49% 5.41% -3.26% 4.50% -6.62% 0.00% 0.97%6.41% -0.65% 5.08% -4.65% 0.13% -1.86% -3.30% -4.40%

-2.53% 5.08% -0.94% 8.65% -1.13% -2.27% 0.93% 9.21%6.21% -2.68% 1.46% 0.88% 4.54% 5.10% -2.23% 8.27%3.66% 0.64% -12.77% 6.17% -4.18% 2.30% -3.73% 6.35%

-1.40% 4.58% -7.98% 3.62% 4.49% 4.66% -6.79% 2.89%-2.08% -1.56% 0.76% 7.52% 1.81% -8.17% -6.41% -1.07%

Page 59: Partial Correlation Network Graph VBA ( DJINDI )

6/30/2001 5/31/2001 4/30/2001 3/31/2001 2/28/2001 1/31/2001 12/31/2000 11/30/2000-11.60% 2.03% 10.92% -10.42% 6.64% -11.37% -4.42% 2.05%

-7.30% 4.60% 15.18% 0.53% -2.67% 10.12% 18.85% -1.33%1.31% 6.83% 2.28% 8.00% -4.79% 17.31% 14.89% -15.76%

-9.52% 2.44% 7.72% -3.76% -15.15% 21.91% 23.18% -18.92%0.76% 12.80% 1.83% -4.19% -3.61% -11.58% 8.88% -2.19%

-7.89% -0.76% 2.99% -5.88% -6.84% -14.13% 0.00% -8.45%-0.70% 7.01% -3.51% -11.21% -1.86% -7.96% 4.78% 4.79%-5.55% 0.02% 2.45% 0.96% -11.81% 6.91% 1.92% 15.01%

-10.65% 10.14% 3.55% -9.66% 0.14% -13.66% 6.71% 3.45%-4.09% 4.65% 9.29% 1.52% -11.84% 5.49% 16.60% -8.77%-4.71% 2.62% 2.26% -14.50% -8.60% -4.82% -2.67% 3.99%-8.64% 4.51% 5.80% -7.58% 1.61% 5.24% 0.69% -19.20%3.97% 3.43% 11.04% -6.84% 0.78% -9.51% 14.18% -6.01%

-5.50% 13.46% 7.42% -33.27% -36.73% -2.12% -20.13% -11.12%-2.16% 3.13% -9.09% 8.71% -21.69% 16.73% 0.07% -31.99%1.52% -2.78% 19.72% -3.72% -10.70% 31.76% -9.09% -4.95%8.28% -12.56% 17.48% -7.88% -22.77% 23.09% -21.01% -15.40%5.53% 2.10% 23.92% -7.33% -3.37% 40.79% -24.40% -16.69%

-6.96% 4.39% -7.07% -6.43% -1.33% 1.76% -13.08% -4.78%-2.45% -0.39% 12.56% -0.40% -9.92% 10.41% -10.78% -2.83%-3.78% 0.13% 14.55% -7.84% 2.43% -8.17% 20.65% 4.02%0.00% 0.95% 15.95% -9.66% 1.13% -4.10% -2.95% -9.57%

-12.05% 7.01% 6.51% -5.93% 4.23% -4.64% 11.02% 1.77%-7.59% 7.87% 13.93% 6.70% -5.94% -5.82% 20.33% 12.12%-5.77% 0.15% 9.96% 2.52% 3.65% -1.38% 3.13% 0.47%-1.55% 0.65% 9.41% -0.06% -3.18% -3.23% -1.19% -0.86%7.35% -12.14% 10.44% 0.14% 4.97% -8.11% 4.64% 7.27%3.07% 0.86% 10.28% -10.12% 4.87% -11.36% 5.05% 8.94%

-12.44% -3.46% 0.09% -4.94% -2.42% -12.21% 1.39% 3.06%-6.60% -0.70% 5.75% -9.02% -0.10% -1.84% 3.82% 2.81%-2.50% 0.51% 7.68% -6.42% -9.23% 3.46% 0.41% -8.01%

Page 60: Partial Correlation Network Graph VBA ( DJINDI )

10/31/2000 9/30/2000 8/31/2000 7/31/2000 6/30/2000 5/31/2000 4/30/2000 3/31/20005.14% 20.25% 10.22% 16.74% 7.03% -1.24% 5.00% 2.35%

13.35% -23.91% 10.42% 4.31% -0.74% -9.56% -7.66% 2.54%-8.22% -2.22% 14.19% 10.19% -22.46% 14.22% -6.58% 15.31%-0.82% -17.34% 12.19% 8.90% -7.50% 3.55% -16.85% 9.52%1.73% 6.61% 6.91% 30.24% -8.30% 5.27% 4.39% 53.92%

-1.09% 2.92% 4.11% 8.90% -3.45% 8.36% 0.54% 11.00%7.15% 8.36% 8.50% 1.01% -14.65% 11.30% 5.78% -35.42%

-5.71% 1.17% -13.81% -4.13% 0.13% 4.06% -1.99% 16.03%2.70% 0.98% -5.65% -3.81% -8.02% -5.90% 1.82% 17.71%

-18.79% 10.17% -7.07% 3.64% 2.00% -13.27% -12.40% 12.26%9.57% 5.05% -14.16% 6.75% 7.96% 12.96% 0.70% -3.15%

-6.36% -1.81% 1.01% -0.64% -8.02% -3.29% 5.75% 21.33%11.02% -8.93% -0.21% 3.59% -10.74% 4.03% -10.40% 4.82%-2.48% -19.49% 4.87% 2.96% 11.62% -17.87% -10.32% 16.97%-4.13% -19.48% 10.42% -12.50% 33.26% -10.95% 1.82% -1.33%

-12.53% -14.70% 17.74% 2.45% 2.10% -3.64% -5.80% 15.21%8.29% -44.49% 12.20% -0.15% 7.23% -1.65% -3.89% 16.77%

14.21% -13.63% 0.00% -12.72% 27.86% -10.28% -34.37% 18.91%16.25% 19.40% -1.86% -2.72% 0.70% -0.29% 4.58% 11.58%20.32% 11.28% -6.90% -7.20% -3.91% -11.89% -1.25% 24.92%

6.02% -2.04% 3.92% 8.50% -3.20% -0.38% -2.17% 0.40%-5.19% -1.19% 13.42% -2.20% 0.69% 0.42% 1.04% 17.90%0.66% 11.09% 7.29% -0.86% -2.56% -2.53% -1.57% 24.00%

14.39% -15.66% 7.94% 1.53% -11.42% -3.04% 0.84% 12.48%-3.66% 0.85% 7.85% -6.88% -8.24% 9.37% -7.94% 23.77%0.09% 9.17% 2.35% 2.16% -5.79% 7.82% -0.38% 3.54%

10.76% 4.52% 15.56% -4.59% 14.93% 11.79% 11.94% 16.53%-1.96% 2.18% -0.88% -8.65% 13.82% 8.90% 17.40% -2.43%20.81% 6.51% -2.00% -6.47% 2.69% 7.77% 11.88% 1.38%-3.85% 4.11% -0.32% -9.65% 7.88% 5.81% 15.23% 13.83%-0.49% -5.35% 6.07% -1.63% 2.39% -2.19% -3.08% 9.67%

Page 61: Partial Correlation Network Graph VBA ( DJINDI )

2/29/2000 1/31/2000 12/31/1999-16.72% 7.39% 1.98%

-1.36% -16.04% 26.73%-5.06% -3.48% -13.65%-1.35% 4.48% 0.55%

-25.90% -10.37% 13.32%-18.55% -0.76% 10.02%-13.04% -7.51% 1.45%-10.94% -20.80% 20.03%-15.05% -7.29% -11.88%

1.53% -17.62% 30.22%-15.32% -1.41% -13.47%

-6.35% 24.11% 4.98%-13.84% -10.42% 10.82%20.71% 2.23% 20.10%24.24% -4.82% 20.07%-8.37% 4.06% 4.66%14.22% 20.22% 7.32%-8.70% -16.17% 28.24%

-11.94% -11.57% -7.41%-20.98% 1.28% -3.49%

-5.19% -4.32% 2.40%-1.21% -13.39% 19.20%-3.38% -18.57% 15.04%

-17.38% -9.29% 1.49%-9.92% -3.47% -2.18%-8.60% 2.86% 1.59%-3.48% -0.16% 2.26%

-16.04% -7.69% -10.13%-21.70% 17.01% -14.30%-11.00% 11.57% -11.45%

-2.01% -5.09% 5.78%

Page 62: Partial Correlation Network Graph VBA ( DJINDI )

0 Actual63 From 31-Oct-07 31-Oct-0747 To 28-Feb-09 28-Feb-0930 Length 17

1 2 3 4 5 6Means -6.17% -8.36% -10.81% -2.85% -1.55% -8.19%Stdev 9.68% 16.30% 21.60% 13.33% 6.24% 10.83%

BA AA BAC JPM TRV AXP63 31-Oct-07 -6.10% 1.63% -3.95% 3.41% 3.72% 2.93%62 30-Nov-07 -5.80% -8.12% -4.44% -2.94% 1.70% -3.24%61 31-Dec-07 -5.49% 0.48% -9.27% -4.32% 1.85% -11.80%60 31-Jan-08 -4.89% -9.46% 7.02% 9.55% -10.59% -5.22%59 29-Feb-08 0.01% 12.82% -10.00% -14.24% -3.51% -13.91%58 31-Mar-08 -10.17% -2.90% -3.02% 5.65% 3.74% 3.36%57 30-Apr-08 14.11% -3.08% -0.97% 11.85% 5.32% 10.27%56 31-May-08 -2.01% 16.68% -9.40% -9.77% -1.16% -3.47%55 30-Jun-08 -20.59% -12.24% -28.42% -20.20% -12.35% -18.73%54 31-Jul-08 -7.01% -5.23% 37.79% 19.73% 1.65% -1.02%53 31-Aug-08 7.93% -4.30% -5.36% -5.25% 0.10% 6.88%52 30-Sep-08 -12.52% -29.73% 14.66% 21.33% 3.06% -10.70%51 31-Oct-08 -8.60% -49.07% -30.95% -11.00% -5.86% -22.00%50 30-Nov-08 -18.06% -5.15% -32.77% -23.25% 2.60% -15.24%49 31-Dec-08 0.08% 4.64% -11.34% -0.41% 4.26% -20.41%48 31-Jan-09 -0.84% -30.85% -53.25% -18.10% -14.51% -9.02%47 28-Feb-09 -24.93% -18.28% -40.03% -10.45% -6.43% -27.93%

B1
Peter Urbani: Leave all red cells alone
D2
Peter Urbani: Blue cells are user inputs
E10
Peter Urbani: Enter up to 36 tickers in Row 10
Page 63: Partial Correlation Network Graph VBA ( DJINDI )
Page 64: Partial Correlation Network Graph VBA ( DJINDI )

7 8 9 10 11 12 13 14 15 16 17-1.80% 1.02% 0.28% -2.00% -1.62% -3.70% -4.82% -4.41% -2.79% -0.97% -3.42%6.36% 6.02% 5.69% 7.97% 5.83% 7.66% 8.39% 7.75% 7.45% 8.00% 9.17%

PG WMT MCD HD KO DIS DD CSCO HPQ IBM INTC-0.68% 3.58% 9.67% -2.87% 7.48% 0.69% -0.13% -0.22% 3.78% -1.43% 4.01%6.45% 5.95% 0.44% -8.60% 1.10% -4.25% -5.96% -15.24% -0.99% -9.10% -2.63%

-0.78% -0.33% 0.76% -5.69% -1.20% -1.60% -4.45% -3.37% -1.17% 2.78% 2.20%-10.44% 6.76% -9.05% 13.76% -3.86% -7.54% 2.48% -9.51% -13.39% -0.91% -20.86%

1.15% -2.27% 1.68% -13.35% -0.91% 8.62% 3.65% -0.42% 9.26% 6.71% -4.78%5.89% 6.75% 3.07% 6.30% 4.77% -3.21% 0.71% -1.23% -4.25% 1.12% 6.07%

-3.76% 10.07% 6.83% 2.98% -3.26% 3.35% 4.61% 6.42% 1.49% 4.83% 5.12%-1.49% 0.00% -0.45% -4.99% -2.75% 3.64% -1.22% 4.21% 1.54% 7.67% 4.77%-7.93% -2.67% -4.60% -13.72% -8.63% -7.14% -10.49% -12.94% -5.89% -8.42% -7.35%8.35% 4.30% 6.34% 1.77% -0.93% -2.75% 2.14% -5.49% 1.32% 7.97% 3.29%6.56% 1.17% 4.32% 13.79% 1.11% 6.60% 2.37% 9.40% 4.73% -4.52% 3.71%

-0.11% 1.38% -0.48% -3.73% 2.29% -5.13% -9.32% -6.22% -1.27% -3.92% -18.09%-6.80% -6.81% -6.10% -8.89% -16.67% -15.57% -20.51% -21.22% -17.21% -20.52% -14.45%-0.30% 0.14% 2.32% -2.03% 7.24% -13.07% -20.64% -6.90% -7.83% -11.73% -13.16%-3.93% 0.75% 5.84% 0.69% -3.37% 2.24% 0.94% -1.44% 3.07% 3.13% 6.29%

-11.22% -15.96% -6.71% -6.46% -5.64% -8.84% -9.24% -8.15% -4.24% 8.90% -12.07%-11.62% 4.51% -9.09% -2.98% -4.39% -18.94% -16.86% -2.70% -16.45% 0.96% -0.18%

Page 65: Partial Correlation Network Graph VBA ( DJINDI )
Page 66: Partial Correlation Network Graph VBA ( DJINDI )

18 19 20 21 22 23 24 25 26 27-2.87% -2.64% -1.91% -3.74% -7.83% -3.49% -5.41% -1.97% -1.49% -4.01%9.91% 7.77% 6.34% 5.70% 10.41% 6.95% 13.05% 7.60% 5.68% 15.13%

MSFT T VZ MMM GE UTX CAT CVX XOM UNH24.94% -0.38% 5.03% -7.71% -0.59% -4.84% -4.42% -2.22% -0.61% 1.49%-8.42% -8.57% -6.22% -3.02% -6.96% -1.96% -3.63% -3.44% -2.70% 11.91%5.95% 8.75% 1.13% 1.27% -2.35% 2.37% 0.92% 6.34% 5.07% 5.82%

-8.43% -6.48% -10.24% -5.53% -4.63% -4.28% -1.62% -10.80% -8.52% -12.63%-16.23% -9.49% -6.46% -0.95% -5.43% -3.35% 1.89% 4.85% 1.97% -8.59%

4.36% 9.96% 0.36% 0.95% 11.67% -2.39% 8.24% -1.50% -2.79% -26.01%0.47% 2.09% 7.28% -2.84% -11.65% 5.31% 5.07% 12.65% 10.04% -5.03%

-0.35% 3.09% 0.00% 1.51% -6.04% -1.55% 0.93% 3.80% -4.20% 4.85%-2.83% -15.55% -7.99% -10.27% -12.16% -13.15% -10.67% -0.01% -0.72% -23.27%-6.52% -7.41% -2.65% 1.14% 5.99% 3.69% -5.26% -14.70% -8.74% 6.99%6.55% 3.79% 3.17% 2.43% -0.67% 3.01% 1.73% 2.86% -0.01% 8.42%

-2.20% -12.70% -8.64% -4.59% -8.01% -8.43% -15.74% -4.44% -2.93% -16.60%-16.35% -2.62% -6.06% -5.87% -23.50% -8.48% -35.25% -9.56% -4.57% -6.57%

-8.85% 6.71% 10.07% 4.94% -11.98% -11.03% 7.29% 6.83% 8.77% -11.46%-3.82% -0.22% 3.83% -14.04% -3.88% 10.44% 9.00% -6.38% -0.40% 26.64%

-12.02% -12.34% -10.62% -6.50% -25.12% -10.47% -30.20% -4.66% -4.20% 6.50%-4.96% -3.44% -4.46% -14.58% -27.79% -14.20% -20.22% -13.12% -10.77% -30.64%

Page 67: Partial Correlation Network Graph VBA ( DJINDI )
Page 68: Partial Correlation Network Graph VBA ( DJINDI )

28 29 30 31 32 33 34 35 36-1.21% -3.59% -3.18%5.33% 10.08% 6.65%

JNJ MRK PFE-0.82% 12.70% 0.73%4.60% 1.89% -2.29%

-1.54% -1.45% -4.32%-5.34% -20.67% 2.79%-1.22% -3.92% -3.31%4.69% -13.56% -6.06%3.42% 0.23% -3.88%0.18% 2.42% -2.24%

-3.59% -2.30% -9.72%6.42% -12.70% 6.83%3.53% 8.42% 4.08%

-1.63% -10.56% -3.54%-11.46% -1.93% -3.94%

-3.71% -13.65% -5.60%2.14% 15.40% 7.81%

-3.59% -6.08% -17.65%-12.60% -15.26% -13.77%

Page 69: Partial Correlation Network Graph VBA ( DJINDI )
Page 70: Partial Correlation Network Graph VBA ( DJINDI )

120

Date Avg Correl Min Max ShrinkCorr Min Max Avg PartCo28-Feb-09 #VALUE! -0.257496 0.921011 #VALUE! #VALUE! #VALUE! #VALUE!

Date Avg Correl Min Max ShrinkCorr Min Max Avg PartCorrel30-Nov-02 0.397807 -0.180539 0.953729 0.239557 -0.108719 0.574329 0.02930531-Dec-02 0.4171 -0.202783 0.956201 0.243128 -0.118202 0.557369 0.02931131-Jan-03 0.422299 -0.180366 0.947331 0.243963 -0.104198 0.547273 0.02954528-Feb-03 0.416976 -0.252017 0.965676 0.243107 -0.146932 0.563013 0.02872531-Mar-03 0.406486 -0.256299 0.945345 0.241255 -0.152117 0.561075 0.02604730-Apr-03 0.446142 -0.220757 0.946205 0.247099 -0.122268 0.524064 0.026496

31-May-03 0.450297 -0.183775 0.926848 0.24753 -0.101022 0.509491 0.02705330-Jun-03 0.458668 -0.172546 0.92596 0.248292 -0.093405 0.501251 0.02756831-Jul-03 0.440886 -0.132638 0.898264 0.246505 -0.07416 0.502232 0.027928

31-Aug-03 0.443282 -0.13251 0.899612 0.246783 -0.073771 0.50083 0.02789330-Sep-03 0.331162 -0.270956 0.880858 0.221494 -0.181226 0.589151 0.02665631-Oct-03 0.284977 -0.307767 0.86875 0.203765 -0.22006 0.621176 0.02569730-Nov-03 0.28213 -0.275574 0.874752 0.202533 -0.197827 0.627959 0.02599431-Dec-03 0.231246 -0.286999 0.86351 0.177771 -0.220631 0.663826 0.02703931-Jan-04 0.183214 -0.414816 0.870936 0.149646 -0.338816 0.711369 0.0246229-Feb-04 0.160127 -0.364963 0.851582 0.134486 -0.306523 0.715221 0.02543731-Mar-04 0.212761 -0.323211 0.85097 0.167494 -0.254444 0.669917 0.02755430-Apr-04 0.179097 -0.36185 0.860711 0.147021 -0.297044 0.70656 0.027742

31-May-04 0.178252 -0.330709 0.851344 0.146478 -0.271759 0.69959 0.02730530-Jun-04 0.18234 -0.355929 0.861218 0.149092 -0.291028 0.704183 0.02696531-Jul-04 0.22093 -0.353542 0.835541 0.17212 -0.275434 0.650945 0.027016

31-Aug-04 0.224608 -0.314245 0.88659 0.174159 -0.243663 0.687455 0.02709730-Sep-04 0.223211 -0.309329 0.849048 0.173388 -0.240284 0.659531 0.02714131-Oct-04 0.178708 -0.440537 0.85245 0.146771 -0.361809 0.70011 0.02405930-Nov-04 0.193152 -0.4337 0.856256 0.155844 -0.34993 0.690868 0.02458331-Dec-04 0.111966 -0.459429 0.809602 0.09943 -0.407988 0.718954 0.02017631-Jan-05 0.159512 -0.384538 0.775462 0.134068 -0.3232 0.651766 0.02447628-Feb-05 0.165312 -0.328527 0.847103 0.137984 -0.274217 0.707067 0.02479231-Mar-05 0.165932 -0.383387 0.877503 0.138398 -0.319771 0.731897 0.02531130-Apr-05 0.17219 -0.341575 0.871828 0.142541 -0.282759 0.721708 0.02787

31-May-05 0.182868 -0.306494 0.835401 0.149427 -0.250446 0.682633 0.02788530-Jun-05 0.182505 -0.322273 0.859407 0.149197 -0.263457 0.702561 0.02763731-Jul-05 0.183729 -0.315631 0.823255 0.149973 -0.25764 0.671999 0.028213

31-Aug-05 0.210766 -0.274852 0.800744 0.166344 -0.216923 0.631974 0.02784530-Sep-05 0.215782 -0.275457 0.824951 0.16922 -0.216019 0.646941 0.0280731-Oct-05 0.205158 -0.300215 0.873159 0.163068 -0.238623 0.694023 0.0278630-Nov-05 0.226245 -0.274678 0.869187 0.175058 -0.212534 0.672537 0.02789231-Dec-05 0.207748 -0.332609 0.875543 0.164589 -0.26351 0.693651 0.02752131-Jan-06 0.175344 -0.366815 0.869824 0.144599 -0.302496 0.717305 0.02817528-Feb-06 0.164375 -0.438274 0.853478 0.137356 -0.366232 0.713188 0.02640431-Mar-06 0.150881 -0.421506 0.892556 0.128116 -0.357909 0.757886 0.02724230-Apr-06 0.146313 -0.430075 0.883872 0.124906 -0.367149 0.75455 0.027299

31-May-06 0.147307 -0.423725 0.901854 0.125608 -0.361307 0.769004 0.02598430-Jun-06 0.116382 -0.438361 0.866913 0.102837 -0.387344 0.76602 0.0260931-Jul-06 0.099491 -0.501901 0.870809 0.089593 -0.451966 0.784171 0.026015

Page 71: Partial Correlation Network Graph VBA ( DJINDI )

31-Aug-06 0.082238 -0.527101 0.898872 0.075475 -0.483753 0.82495 0.0226530-Sep-06 0.105835 -0.468174 0.888953 0.094634 -0.418624 0.79487 0.02300631-Oct-06 0.111555 -0.431234 0.839101 0.099111 -0.383127 0.745495 0.02168330-Nov-06 0.089246 -0.465486 0.848398 0.081281 -0.423944 0.772682 0.02039931-Dec-06 0.056887 -0.487111 0.831549 0.05365 -0.459401 0.784245 0.01867231-Jan-07 0.060692 -0.521719 0.886296 0.057009 -0.490055 0.832504 0.01673828-Feb-07 0.130119 -0.438934 0.845558 0.113188 -0.381821 0.735535 0.02654931-Mar-07 0.132614 -0.443293 0.840956 0.115027 -0.384506 0.729434 0.0262330-Apr-07 0.181044 -0.346798 0.849088 0.148267 -0.284012 0.695366 0.024982

31-May-07 0.176275 -0.381945 0.84154 0.145202 -0.314618 0.693198 0.02481730-Jun-07 0.204089 -0.331449 0.848683 0.162437 -0.263804 0.675476 0.02509631-Jul-07 0.254608 -0.352001 0.878209 0.189783 -0.262379 0.65461 0.026113

31-Aug-07 0.263453 -0.310077 0.873247 0.194045 -0.228386 0.643188 0.02664730-Sep-07 0.248666 -0.375728 0.873316 0.186831 -0.282297 0.656152 0.02512531-Oct-07 0.212226 -0.472423 0.903028 0.167186 -0.372162 0.711382 0.02517830-Nov-07 0.243671 -0.547896 0.897419 0.184295 -0.41439 0.678744 0.02416531-Dec-07 0.251459 -0.521755 0.9108 0.188228 -0.390555 0.681771 0.02425831-Jan-08 0.267025 -0.56147 0.958505 0.195723 -0.411544 0.70256 0.02370829-Feb-08 0.242266 -0.531664 0.948321 0.183573 -0.40286 0.718575 0.02460631-Mar-08 0.229509 -0.501498 0.946284 0.176835 -0.3864 0.729103 0.02424630-Apr-08 0.201211 -0.409482 0.960325 0.160725 -0.327089 0.767096 0.025459

31-May-08 0.166894 -0.483728 0.882764 0.139041 -0.402996 0.735436 0.02310130-Jun-08 0.305511 -0.29415 0.885568 0.212174 -0.204284 0.615017 0.02758231-Jul-08 0.289653 -0.377527 0.903821 0.205754 -0.268175 0.642027 0.027116

31-Aug-08 0.29137 -0.384754 0.901379 0.206473 -0.272648 0.638744 0.02626230-Sep-08 0.276021 -0.450287 0.908799 0.199833 -0.325998 0.657951 0.02618631-Oct-08 0.382588 -0.315691 0.917426 0.236214 -0.194912 0.56643 0.0283330-Nov-08 0.350708 -0.321043 0.910457 0.227712 -0.208451 0.591153 0.0280931-Dec-08 0.334174 -0.340323 0.913809 0.222502 -0.226596 0.608438 0.02767431-Jan-09 0.386766 -0.231679 0.93257 0.237178 -0.142073 0.571884 0.02846628-Feb-09 0.428609 -0.192254 0.93964 0.244903 -0.109852 0.536902 0.02888131-Mar-09 0.515473 -0.008665 0.952366 0.249761 -0.004199 0.461448 0.02975130-Apr-09 0.477225 -0.26755 0.948515 0.249481 -0.139868 0.49586 0.028699

31-May-09 0.473545 -0.248758 0.952959 0.2493 -0.13096 0.50169 0.02893530-Jun-09 0.454087 -0.218664 0.927695 0.247892 -0.119372 0.506441 0.02904331-Jul-09 0.503188 -0.065836 0.931495 0.24999 -0.032708 0.462778 0.029788

31-Aug-09 0.502691 -0.011819 0.940103 0.249993 -0.005878 0.467521 0.03001230-Sep-09 0.511787 0.033063 0.924137 0.249861 0.016142 0.451175 0.03014931-Oct-09 0.448709 -0.134495 0.928078 0.247369 -0.074146 0.511641 0.02961130-Nov-09 0.495522 -0.024794 0.914588 0.24998 -0.012508 0.461389 0.02986731-Dec-09 0.498345 -0.024639 0.940325 0.249997 -0.01236 0.471719 0.029731-Jan-10 0.434026 -0.109393 0.938138 0.245647 -0.061913 0.530961 0.02984928-Feb-10 0.294056 -0.298621 0.877044 0.207587 -0.21081 0.619144 0.02913431-Mar-10 0.245729 -0.3863 0.886938 0.185346 -0.291375 0.668992 0.02823430-Apr-10 0.277674 -0.329349 0.853077 0.200571 -0.237897 0.6162 0.028267

31-May-10 0.432439 -0.023312 0.874169 0.245435 -0.013231 0.496145 0.02922530-Jun-10 0.484213 0.004184 0.90756 0.249751 0.002158 0.468108 0.02963731-Jul-10 0.468736 -0.177917 0.906755 0.249023 -0.094521 0.481727 0.028759

31-Aug-10 0.474676 -0.148182 0.934134 0.249359 -0.077844 0.490723 0.02880730-Sep-10 0.52258 -0.191148 0.942798 0.24949 -0.091258 0.450111 0.02904331-Oct-10 0.522308 -0.201643 0.945913 0.249502 -0.096323 0.451855 0.02895630-Nov-10 0.488189 -0.154307 0.950758 0.24986 -0.078976 0.486609 0.02883631-Dec-10 0.521499 -0.06352 0.934043 0.249538 -0.030394 0.44694 0.02905631-Jan-11 0.504146 -0.120327 0.951784 0.249983 -0.059664 0.471946 0.029396

Page 72: Partial Correlation Network Graph VBA ( DJINDI )

28-Feb-11 0.498631 -0.111213 0.94744 0.249998 -0.055759 0.475017 0.02937531-Mar-11 0.484369 -0.109347 0.942427 0.249756 -0.056383 0.485945 0.02940830-Apr-11 0.500285 -0.091829 0.956655 0.25 -0.045888 0.478055 0.029889

31-May-11 0.412394 -0.139409 0.956264 0.242325 -0.081917 0.561906 0.02971230-Jun-11 0.377951 -0.219382 0.950536 0.235104 -0.136467 0.59128 0.02882831-Jul-11 0.36424 -0.329204 0.927321 0.231569 -0.209295 0.589553 0.028451

31-Aug-11 0.357217 -0.295933 0.934083 0.229613 -0.190221 0.600412 0.02861230-Sep-11 0.331492 -0.223546 0.916937 0.221605 -0.149442 0.61298 0.02896131-Oct-11 0.420007 -0.137643 0.948839 0.243601 -0.079832 0.55032 0.02905730-Nov-11 0.414932 -0.133333 0.958787 0.242763 -0.078009 0.560955 0.029231-Dec-11 0.387025 -0.208089 0.956733 0.237237 -0.127553 0.586453 0.02876331-Jan-12 0.38498 -0.247924 0.956858 0.23677 -0.152478 0.588487 0.02853329-Feb-12 0.401563 -0.195493 0.970427 0.24031 -0.11699 0.58074 0.02844631-Mar-12 0.410761 -0.216029 0.937476 0.242036 -0.127293 0.552398 0.02855530-Apr-12 0.395643 -0.217765 0.931914 0.23911 -0.131608 0.563209 0.027869

31-May-12 0.412791 -0.216319 0.935469 0.242395 -0.127025 0.549316 0.02781530-Jun-12 0.424927 -0.177872 0.933374 0.244364 -0.102289 0.536758 0.02814531-Jul-12 0.414371 -0.188588 0.932276 0.242668 -0.110443 0.545968 0.027812

31-Aug-12 0.393557 -0.221724 0.929369 0.23867 -0.134463 0.563609 0.0282230-Sep-12 0.325601 -0.299851 0.918866 0.219585 -0.202219 0.619682 0.02758431-Oct-12 0.245376 -0.368612 0.894008 0.185166 -0.278163 0.67464 0.02401930-Nov-12 0.259163 -0.3886 0.894755 0.191998 -0.287889 0.662867 0.024673

Page 73: Partial Correlation Network Graph VBA ( DJINDI )

Min Max#VALUE! #VALUE!

Avg PartCorrel d ( X , Y : Z ) ~ p ( X , Y ) - p ( X , Y : Z ) 0.2102520.2138160.2144180.2143820.2152080.2206030.2204770.2207240.218578

0.218890.1948370.1780680.1765390.1507330.1250260.109049

0.139940.1192790.1191730.1221280.1451040.1470630.1462460.1227120.1312610.0792540.1095910.1131920.1130870.1146710.1215420.121559

0.121760.138498

0.141150.1352080.1471670.1370680.1164230.1109520.1008740.0976070.0996240.0767470.063578

Page 74: Partial Correlation Network Graph VBA ( DJINDI )

0.0528250.0716280.0774270.0608820.0349780.0402710.0866390.0887970.1232850.1203850.137341

0.163670.1673980.1617070.142008

0.160130.16397

0.1720150.1589670.1525890.135267

0.115940.1845930.1786380.1802110.1736470.2078840.1996220.1948270.2087120.2160230.2200090.2207830.2203650.2188490.2202020.2199810.2197120.2177580.2201130.2202970.2157990.1784530.1571120.1723040.2162110.2201140.2202640.2205510.2204470.2205470.2210240.2204820.220587

Page 75: Partial Correlation Network Graph VBA ( DJINDI )

0.2206240.2203470.2201110.2126140.2062760.2031190.2010010.1926450.2145450.2135630.2084740.2082370.2118650.2134810.211241

0.214580.2162190.214855

0.210450.1920010.1611480.167325

Page 76: Partial Correlation Network Graph VBA ( DJINDI )

CovMat

1 2 3 4 5 6 7 81 2 3 4 5 6 7 8

1 0.00882 0.004589 0.0056632 0.003311 0.001571 0.006457 0.001434 0.00039152 0.004589 0.025008 0.0111579 0.000432 0.004067 0.005929 0.003982 0.00393773 0.005663 0.011158 0.0438973 0.023172 0.00686 0.011956 0.008216 0.00770194 0.003311 0.000432 0.023172 0.016715 0.003811 0.006767 0.002812 0.00456035 0.001571 0.004067 0.00686 0.003811 0.003665 0.002665 0.002597 0.00209076 0.006457 0.005929 0.0119558 0.006767 0.002665 0.01103 0.003567 0.0026397 0.001434 0.003982 0.0082165 0.002812 0.002597 0.003567 0.003807 0.00135728 0.000392 0.003938 0.0077019 0.00456 0.002091 0.002639 0.001357 0.00340759 0.002401 0.004876 0.0060044 0.002628 0.00278 0.003363 0.002414 0.0012524

10 0.00252 0.001648 0.0065596 0.004924 0.001075 0.004322 0.000846 0.002216311 2.91E-05 0.004728 0.0041499 0.001784 0.002097 0.002796 0.002019 0.001428212 0.005195 0.008454 0.0075699 0.002424 0.00195 0.004656 0.002408 0.000899313 0.00539 0.008484 0.0109767 0.00551 0.001538 0.005894 0.002021 0.002028214 0.003677 0.007858 0.0037936 0.001938 0.002036 0.004155 0.00132 0.001487915 0.004068 0.007698 0.0065274 0.001861 0.002168 0.003906 0.002699 0.00040216 0.002812 0.006626 0.0039272 0.002593 0.000225 0.002443 0.000167 0.000236417 0.002847 0.008832 0.0040372 0.001497 0.002949 0.003574 0.002486 0.001916918 0.001088 0.005611 0.0052659 0.003727 0.002708 0.005114 0.001544 0.002129119 0.001411 0.004596 0.0004499 -4.65E-05 0.002658 0.002322 0.00143 0.001488520 0.001499 0.004738 0.0010113 -9.93E-06 0.002705 0.002137 0.001343 0.001361621 0.001461 0.002718 0.0039064 0.000342 0.001228 0.003087 0.002259 0.000343922 0.002486 0.009736 0.0161404 0.006764 0.003532 0.006368 0.004748 0.003017823 0.004679 0.005641 0.0081768 0.004163 0.002476 0.003444 0.002054 0.001509724 0.003755 0.017196 0.0117357 0.003085 0.004769 0.005863 0.004058 0.004541425 0.002952 0.005442 -0.001662 -0.002455 0.001538 0.002843 0.000938 0.000277926 0.001888 0.002764 -0.0011 -0.001403 0.001517 0.001367 0.000658 0.000215927 0.00849 0.006408 0.0057616 0.001402 0.002582 0.003559 0.002679 -0.001459128 0.002626 0.004583 0.0069447 0.003044 0.001862 0.003997 0.002506 0.001161529 0.004503 0.004669 -0.000825 -0.001417 0.001983 0.001784 0.001131 -0.000605730 0.002467 0.004204 0.0101601 0.004453 0.002092 0.002318 0.0021 0.0017567

CorrelMatAvg #VALUE! 0.394164

1 2 3 4 5 6 7 81 1 0.308999 0.287813 0.272679 0.27637 0.654657 0.247545 0.07142132 0.308999 1 0.3367634 0.021139 0.424761 0.356984 0.408063 0.42656963 0.287813 0.336763 1 0.855449 0.540826 0.543346 0.635599 0.62974394 0.272679 0.021139 0.8554492 1 0.486912 0.49837 0.352529 0.60427015 0.27637 0.424761 0.5408259 0.486912 1 0.419122 0.695363 0.59161286 0.654657 0.356984 0.5433457 0.49837 0.419122 1 0.550543 0.43047197 0.247545 0.408063 0.6355989 0.352529 0.695363 0.550543 1 0.3768178 0.071421 0.42657 0.6297439 0.60427 0.591613 0.430472 0.376817 1

Page 77: Partial Correlation Network Graph VBA ( DJINDI )

9 0.462778 0.558172 0.5188222 0.368056 0.831344 0.579752 0.708442 0.388414910 0.346833 0.13469 0.4047386 0.492403 0.229546 0.532037 0.17719 0.490824811 0.005482 0.528178 0.3499062 0.243809 0.612008 0.470344 0.578114 0.432218912 0.744812 0.719757 0.4864661 0.252421 0.433594 0.596966 0.52555 0.207418913 0.704769 0.658711 0.6432958 0.523276 0.31185 0.689069 0.402112 0.426623414 0.520386 0.660467 0.2406762 0.199234 0.44704 0.525944 0.284347 0.338806515 0.599421 0.673635 0.43112 0.199229 0.495474 0.514609 0.605252 0.095303316 0.385739 0.539744 0.2414432 0.258336 0.047907 0.299593 0.034948 0.052160317 0.340694 0.627591 0.2165321 0.130143 0.54742 0.382388 0.452815 0.369012618 0.120544 0.369159 0.2615128 0.299927 0.465346 0.506661 0.260368 0.379511619 0.199353 0.385541 0.028488 -0.004774 0.582431 0.293257 0.307462 0.338275620 0.2593 0.486759 0.0784251 -0.001247 0.725996 0.330631 0.353645 0.378998921 0.281559 0.31112 0.3374436 0.047918 0.366989 0.532027 0.662642 0.106618522 0.262093 0.609629 0.7627841 0.518033 0.577622 0.600403 0.761985 0.511888623 0.73912 0.529166 0.5789309 0.477661 0.606739 0.486439 0.493734 0.383643724 0.315725 0.858561 0.442268 0.188422 0.622019 0.440768 0.519333 0.614286925 0.426277 0.466587 -0.107582 -0.257496 0.34445 0.367106 0.206198 0.064549126 0.3651 0.317416 -0.095311 -0.197114 0.455077 0.236366 0.193723 0.067170827 0.615704 0.275977 0.1872912 0.073847 0.290458 0.230793 0.295682 -0.17023628 0.541312 0.560939 0.6415669 0.455778 0.595347 0.736699 0.786198 0.385133629 0.490224 0.301854 -0.040258 -0.112049 0.334951 0.173628 0.187412 -0.10609330 0.407241 0.412142 0.7517183 0.533967 0.535679 0.342168 0.527593 0.4665157

ShrinkageVarCovMatIntensity #VALUE!

1 2 3 4 5 6 7 81 0.00882 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!2 #VALUE! 0.025008 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!3 #VALUE! #VALUE! 0.0438973 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!4 #VALUE! #VALUE! #VALUE! 0.016715 #VALUE! #VALUE! #VALUE! #VALUE!5 #VALUE! #VALUE! #VALUE! #VALUE! 0.003665 #VALUE! #VALUE! #VALUE!6 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 0.01103 #VALUE! #VALUE!7 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 0.003807 #VALUE!8 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 0.00340759 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

10 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!11 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!12 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!13 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!14 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!15 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!16 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!17 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!18 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!19 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!20 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!21 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

C85
Peter Urbani: Uses aerage Correlation Change to constant 0.2 - 0.25 if you like
Page 78: Partial Correlation Network Graph VBA ( DJINDI )

22 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!23 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!24 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!25 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!26 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!27 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!28 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!29 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!30 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

ShrinkCorrelMatAvg #VALUE! #VALUE!

1 2 3 4 5 6 7 81 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!2 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!3 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!4 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!5 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!6 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!7 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!8 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!9 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

10 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!11 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!12 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!13 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!14 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!15 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!16 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!17 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!18 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!19 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!20 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!21 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!22 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!23 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!24 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!25 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!26 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!27 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!28 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!29 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!30 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

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InverseShrinkCorrelMat

1 2 3 4 5 6 7 81 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!2 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!3 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!4 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!5 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!6 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!7 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!8 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!9 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

10 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!11 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!12 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!13 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!14 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!15 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!16 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!17 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!18 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!19 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!20 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!21 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!22 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!23 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!24 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!25 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!26 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!27 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!28 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!29 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!30 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

PartialCorrelationMatrixAvg #VALUE! #VALUE!

1 2 3 4 5 6 7 81 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!2 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!3 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!4 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!5 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!6 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!7 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

Page 80: Partial Correlation Network Graph VBA ( DJINDI )

8 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!9 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

10 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!11 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!12 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!13 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!14 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!15 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!16 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!17 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!18 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!19 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!20 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!21 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!22 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!23 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!24 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!25 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!26 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!27 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!28 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!29 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!30 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

Threshold Dependence Matrix converted to IncidenceMatrixThreshold 0.320 d ( X , Y : Z ) ~ p ( X , Y ) - p ( X , Y : Z ) as per

1 2 3 4 5 6 7 81 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!2 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!3 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!4 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!5 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!6 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!7 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!8 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!9 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

10 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!11 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!12 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!13 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!14 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!15 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!16 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!17 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!18 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!19 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!20 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

C248
Peter Urbani: Use 0 for no filtering Recommend 0.36 - 0.5 depending on data set
Page 81: Partial Correlation Network Graph VBA ( DJINDI )

21 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!22 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!23 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!24 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!25 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!26 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!27 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!28 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!29 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!30 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

Page 82: Partial Correlation Network Graph VBA ( DJINDI )

9 10 11 12 13 14 15 16 179 10 11 12 13 14 15 16 17

0.002401 0.00252 2.91E-05 0.005195 0.00539 0.003677 0.004068 0.002812 0.0028470.004876 0.001648 0.004728 0.008454 0.008484 0.007858 0.007698 0.006626 0.0088320.006004 0.00656 0.00415 0.00757 0.010977 0.003794 0.006527 0.003927 0.0040370.002628 0.004924 0.001784 0.002424 0.00551 0.001938 0.001861 0.002593 0.001497

0.00278 0.001075 0.002097 0.00195 0.001538 0.002036 0.002168 0.000225 0.0029490.003363 0.004322 0.002796 0.004656 0.005894 0.004155 0.003906 0.002443 0.0035740.002414 0.000846 0.002019 0.002408 0.002021 0.00132 0.002699 0.000167 0.0024860.001252 0.002216 0.001428 0.000899 0.002028 0.001488 0.000402 0.000236 0.0019170.003051 0.000756 0.001886 0.002772 0.002403 0.002271 0.003066 0.000946 0.0032030.000756 0.005984 0.001281 0.000907 0.002781 0.002641 -0.000165 0.00085 0.0008950.001886 0.001281 0.003204 0.001385 0.001346 0.002012 0.001961 0.000933 0.0013560.002772 0.000907 0.001385 0.005516 0.00515 0.003785 0.004943 0.002876 0.0035790.002403 0.002781 0.001346 0.00515 0.006633 0.003789 0.004153 0.0041 0.0036950.002271 0.002641 0.002012 0.003785 0.003789 0.00566 0.003346 0.003579 0.0043110.003066 -0.000165 0.001961 0.004943 0.004153 0.003346 0.005222 0.00287 0.0034740.000946 0.00085 0.000933 0.002876 0.0041 0.003579 0.00287 0.006027 0.0031070.003203 0.000895 0.001356 0.003579 0.003695 0.004311 0.003474 0.003107 0.0079190.002972 0.002235 0.002954 0.002517 0.002779 0.003786 0.002454 0.001059 0.0046320.001703 0.002506 0.001554 0.000931 0.000708 0.002703 0.000311 7.23E-05 0.0034420.002475 0.001387 0.001738 0.001364 0.000702 0.002627 0.00144 4.43E-05 0.0031660.001076 0.000891 0.001337 0.001384 0.000853 0.001081 0.001293 0.000159 0.000380.003693 0.003295 0.00335 0.004702 0.00577 0.002901 0.004162 0.002068 0.0040780.002478 0.002163 0.000584 0.003606 0.004101 0.002525 0.002983 0.00209 0.0037270.004479 0.00382 0.004523 0.005881 0.006226 0.005619 0.005084 0.002866 0.0057370.001683 -0.000618 0.001276 0.002825 0.001205 0.00269 0.002598 0.000469 0.0016760.001573 -0.000458 0.000949 0.001521 0.000329 0.001286 0.001627 -0.00036 0.0008370.003686 0.000709 0.000248 0.00539 0.004416 0.001745 0.005675 0.00257 0.0044950.002168 0.001171 0.001516 0.002794 0.003036 0.001744 0.002861 0.001577 0.0025810.002943 -0.001122 6.13E-05 0.004112 0.002277 0.002227 0.004081 -4.73E-06 0.004660.002064 0.002352 0.000795 0.002533 0.002977 0.001174 0.001969 0.00012 0.001608

9 10 11 12 13 14 15 16 170.462778 0.346833 0.005482 0.744812 0.704769 0.520386 0.599421 0.385739 0.3406940.558172 0.13469 0.528178 0.719757 0.658711 0.660467 0.673635 0.539744 0.6275910.518822 0.404739 0.349906 0.486466 0.643296 0.240676 0.43112 0.241443 0.2165320.368056 0.492403 0.243809 0.252421 0.523276 0.199234 0.199229 0.258336 0.1301430.831344 0.229546 0.612008 0.433594 0.31185 0.44704 0.495474 0.047907 0.547420.579752 0.532037 0.470344 0.596966 0.689069 0.525944 0.514609 0.299593 0.3823880.708442 0.17719 0.578114 0.52555 0.402112 0.284347 0.605252 0.034948 0.4528150.388415 0.490825 0.432219 0.207419 0.426623 0.338806 0.095303 0.05216 0.369013

Page 83: Partial Correlation Network Graph VBA ( DJINDI )

1 0.176861 0.60322 0.675599 0.534108 0.546402 0.768153 0.220638 0.6515030.176861 1 0.292617 0.157848 0.441475 0.453807 -0.029477 0.141548 0.130011

0.60322 0.292617 1 0.329517 0.291931 0.472501 0.479344 0.212291 0.2692330.675599 0.157848 0.329517 1 0.851401 0.677388 0.921011 0.498742 0.5414650.534108 0.441475 0.291931 0.851401 1 0.618472 0.705661 0.64855 0.5098840.546402 0.453807 0.472501 0.677388 0.618472 1 0.615374 0.612758 0.6439650.768153 -0.029477 0.479344 0.921011 0.705661 0.615374 1 0.51154 0.5402140.220638 0.141548 0.212291 0.498742 0.64855 0.612758 0.51154 1 0.4497160.651503 0.130011 0.269233 0.541465 0.509884 0.643965 0.540214 0.449716 10.559844 0.300598 0.542963 0.352667 0.355 0.523603 0.353357 0.141898 0.541609

0.40892 0.429719 0.364241 0.166378 0.115351 0.476614 0.057093 0.012362 0.5131540.72801 0.291406 0.498898 0.298364 0.139994 0.567457 0.323796 0.009275 0.578064

0.352646 0.20857 0.427417 0.337254 0.189608 0.26002 0.323823 0.037085 0.0772870.66193 0.421744 0.58605 0.626906 0.701548 0.381829 0.570209 0.263774 0.453746

0.665365 0.414792 0.153115 0.720316 0.746972 0.497896 0.612239 0.399273 0.6213360.640167 0.389956 0.630932 0.625199 0.603638 0.589736 0.555451 0.291455 0.509029

0.41307 -0.108382 0.305767 0.515833 0.200646 0.484786 0.487409 0.08193 0.2553080.51713 -0.107537 0.304492 0.371935 0.073388 0.310509 0.408796 -0.084229 0.170737

0.454533 0.062452 0.02985 0.494235 0.369331 0.157985 0.534873 0.22548 0.3440360.759574 0.293007 0.518243 0.728159 0.721466 0.448804 0.766251 0.393073 0.5613660.544707 -0.148264 0.011072 0.566044 0.285801 0.302707 0.577323 -0.000622 0.5354140.579335 0.471279 0.217621 0.528658 0.566554 0.241806 0.422293 0.023897 0.280182

9 10 11 12 13 14 15 16 17#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!0.003051 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!#VALUE! 0.005984 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! 0.003204 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! 0.005516 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE! 0.006633 #VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 0.00566 #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 0.005222 #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 0.006027 #VALUE!#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 0.007919#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

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#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!

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18 19 20 21 22 23 24 25 2618 19 20 21 22 23 24 25 26

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0.559844 0.40892 0.72801 0.352646 0.66193 0.665365 0.640167 0.41307 0.517130.300598 0.429719 0.291406 0.20857 0.421744 0.414792 0.389956 -0.108382 -0.1075370.542963 0.364241 0.498898 0.427417 0.58605 0.153115 0.630932 0.305767 0.3044920.352667 0.166378 0.298364 0.337254 0.626906 0.720316 0.625199 0.515833 0.371935

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27 28 29 30 31 32 33 34 3527 28 29 30

0.00849 0.002626 0.004503 0.0024670.006408 0.004583 0.004669 0.0042040.005762 0.006945 -0.000825 0.010160.001402 0.003044 -0.001417 0.0044530.002582 0.001862 0.001983 0.0020920.003559 0.003997 0.001784 0.0023180.002679 0.002506 0.001131 0.0021

-0.001459 0.001162 -0.000606 0.0017570.003686 0.002168 0.002943 0.0020640.000709 0.001171 -0.001122 0.0023520.000248 0.001516 6.13E-05 0.000795

0.00539 0.002794 0.004112 0.0025330.004416 0.003036 0.002277 0.0029770.001745 0.001744 0.002227 0.0011740.005675 0.002861 0.004081 0.001969

0.00257 0.001577 -4.73E-06 0.000120.004495 0.002581 0.00466 0.0016080.001161 0.001603 0.004149 0.0014230.001117 0.000756 0.001077 0.0010250.002235 0.0011 0.002373 0.0013030.000798 0.001326 -0.000929 0.0006950.003106 0.004089 0.001194 0.0043270.006946 0.002504 0.003271 0.003240.003845 0.004312 0.002321 0.0043330.000756 0.001178 0.002271 -0.0004860.001253 0.000791 0.001787 3.67E-050.021559 0.003673 0.00979 0.0050810.003673 0.002669 0.001606 0.00174

0.00979 0.001606 0.009567 0.0022210.005081 0.00174 0.002221 0.004161

27 28 29 300.615704 0.541312 0.490224 0.4072410.275977 0.560939 0.301854 0.4121420.187291 0.641567 -0.040258 0.7517180.073847 0.455778 -0.112049 0.5339670.290458 0.595347 0.334951 0.5356790.230793 0.736699 0.173628 0.3421680.295682 0.786198 0.187412 0.527593

-0.170236 0.385134 -0.106093 0.466516

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0.454533 0.759574 0.544707 0.5793350.062452 0.293007 -0.148264 0.471279

0.02985 0.518243 0.011072 0.2176210.494235 0.728159 0.566044 0.5286580.369331 0.721466 0.285801 0.5665540.157985 0.448804 0.302707 0.2418060.534873 0.766251 0.577323 0.422293

0.22548 0.393073 -0.000622 0.0238970.344036 0.561366 0.535414 0.2801820.082303 0.322786 0.441364 0.2295840.100935 0.194216 0.146051 0.2108180.247362 0.346005 0.394216 0.3281530.098365 0.464669 -0.171824 0.194890.209448 0.783741 0.120905 0.6642190.701722 0.718858 0.496025 0.7451370.206777 0.658935 0.187377 0.5303950.069855 0.30912 0.314792 -0.1022590.154959 0.277903 0.331781 0.010339

1 0.484255 0.681732 0.5364080.484255 1 0.317842 0.5220650.681732 0.317842 1 0.352030.536408 0.522065 0.35203 1

27 28 29 30#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!

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27 28 29 30#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!#VALUE! #VALUE! #VALUE! #VALUE!

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36

0.005482 0.7448120.021139 0.858561

-0.107582 0.855449-0.257496 0.8554490.047907 0.8313440.173628 0.7366990.034948 0.786198

-0.170236 0.629744

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0.176861 0.831344-0.148264 0.5320370.005482 0.6309320.157848 0.9210110.073388 0.8514010.157985 0.677388

-0.029477 0.921011-0.084229 0.648550.077287 0.651503

0.02968 0.559844-0.004774 0.782229-0.001247 0.782229-0.171824 0.6626420.108074 0.7837410.153115 0.7469720.187377 0.858561

-0.257496 0.895569-0.197114 0.895569-0.170236 0.7017220.194216 0.786198

-0.171824 0.681732-0.102259 0.751718

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#VALUE!30

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#VALUE!#VALUE!#VALUE!#VALUE!#VALUE!#VALUE!#VALUE!#VALUE!#VALUE!#VALUE!

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No of Data Points17

A B C D E31-Oct-07 -6.10% 1.63% -3.95% 3.41% 3.72%30-Nov-07 -5.80% -8.12% -4.44% -2.94% 1.70%31-Dec-07 -5.49% 0.48% -9.27% -4.32% 1.85%31-Jan-08 -4.89% -9.46% 7.02% 9.55% -10.59%29-Feb-08 0.01% 12.82% -10.00% -14.24% -3.51%31-Mar-08 -10.17% -2.90% -3.02% 5.65% 3.74%30-Apr-08 14.11% -3.08% -0.97% 11.85% 5.32%

31-May-08 -2.01% 16.68% -9.40% -9.77% -1.16%30-Jun-08 -20.59% -12.24% -28.42% -20.20% -12.35%31-Jul-08 -7.01% -5.23% 37.79% 19.73% 1.65%

31-Aug-08 7.93% -4.30% -5.36% -5.25% 0.10%30-Sep-08 -12.52% -29.73% 14.66% 21.33% 3.06%31-Oct-08 -8.60% -49.07% -30.95% -11.00% -5.86%30-Nov-08 -18.06% -5.15% -32.77% -23.25% 2.60%31-Dec-08 0.08% 4.64% -11.34% -0.41% 4.26%31-Jan-09 -0.84% -30.85% -53.25% -18.10% -14.51%28-Feb-09 -24.93% -18.28% -40.03% -10.45% -6.43%

A B C D EMeans -6.17% -8.36% -10.81% -2.85% -1.55%Stdev 9.68% 16.30% 21.60% 13.33% 6.24%

Variance Covariance MatrixA ### ### ### ### ###B ### ### ### ### ###C ### ### ### ### ###D ### ### ### ### ###E ### ### ### ### ###

Avg Pearson Correlation Matrix0.38117 A 1 0.309 0.28781 0.27268 ###

B 0.309 1 0.33676 0.02114 0.42476C 0.28781 0.33676 1 0.85545 0.54083D 0.27268 0.02114 0.85545 1 0.48691E ### 0.42476 0.54083 0.48691 1

Shrink0.38 Shrinkage Variance Covariance Matrix

A ### ### ### ### ###B ### ### ### ### ###C ### ### ### ### ###D ### ### ### ### ###E ### ### ### ### ###

Avg Shrinkage Correlation Matrix0.23588 A 1 0.19122 0.17811 0.16874 ###

B 0.19122 1 0.2084 0.01308 0.26285C 0.17811 0.2084 1 0.52938 0.33468D 0.16874 0.01308 0.52938 1 0.30132E ### 0.26285 0.33468 0.30132 1

Inverse Shrinkage Correl Matrix

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A 1.07838 -0.16948 -0.06571 -0.12037 -0.08162B -0.16948 1.14696 -0.23724 0.21707 -0.25851C -0.06571 -0.23724 1.51641 -0.72350 -0.21591D -0.12037 0.21707 -0.72350 1.47217 -0.23792E -0.08162 -0.25851 -0.21591 -0.23792 1.22586

Avg Partial Correlation Matrix0.14208 A -1 0.15239 ### 0.09554 0.070990.14208 B 0.15239 -1 0.17989 ### 0.21801

#VALUE! C ### 0.17989 -1 ### ###0.14208 D 0.09554 ### 0.48423 -1 0.1771

E 0.07099 0.21801 0.15836 0.1771 -1

Avg Dependency Matrix d ( X , Y : Z ) ~ p ( X , Y ) - p ( X , Y : Z ) as per 0.0938 A 1 0.038824 0.126723 0.073206 0.100036

B 0.038824 1 0.028513 0.180135 0.044843C 0.126723 0.028513 1 0.045144 0.176318D 0.073206 0.180135 0.045144 1 0.124212E 0.100036 0.044843 0.176318 0.124212 1

Threshol Incidence Matrix0.15 A 0 0 0 0 0

B 0 0 0 1 0C 0 0 0 0 1D 0 1 0 0 0E 0 0 1 0 0

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Dominating Clasp of the Financial Sector Revealed by Partial Correlation Analysis of the Stock MarketStatistical Analysis of Networks, correlation and time seriesClustering and information in correlation based financial networksCorrelation-based Networks in FinanceCorrelation, hierarchies, and networks in financial marketsCorrelations and Dependencies in the Global Financial VillageReview of Sparse inverse covariance matrix with the graphical lassoFrom Correlation to Causation NetworksA Short History of Correlation Networks ResearchTop 20 Data Visualisation ToolsGraph Theory and Finance in MathematicaNodeXLGephiPartial Correlation OnlinePartial CorrelationGraph TheoryDependency NetworkAdjacency Matrix

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Dominating Clasp of the Financial Sector Revealed by Partial Correlation Analysis of the Stock Market