Construction of Markovitz Frontier

Date CNX Nifity Return Bharti Airtel11/27/2013 6057.1 321.911/28/2013 6091.85 0.2% 323.611/29/2013 6176.1 0.6% 32712/2/2013 6217.85 0.3% 332.612/3/2013 6201.85 -0.1% 33112/4/2013 6160.95 -0.3% 332.2512/5/2013 6241.1 0.6% 335.3512/6/2013 6259.9 0.1% 332.412/9/2013 6363.9 0.7% 336.3512/10/2013 6332.85 -0.2% 335.2512/11/2013 6307.9 -0.2% 328.112/12/2013 6237.05 -0.5% 323.612/13/2013 6168.4 -0.5% 320.8512/16/2013 6154.7 -0.1% 313.3512/17/2013 6139.05 -0.1% 327.3512/18/2013 6217.15 0.5% 327.7512/19/2013 6166.65 -0.4% 323.5512/20/2013 6274.25 0.8% 327.912/23/2013 6284.5 0.1% 328.2512/24/2013 6268.4 -0.1% 325.6512/26/2013 6278.9 0.1% 329.5512/27/2013 6313.8 0.2% 329.212/30/2013 6291.1 -0.2% 329.6512/31/2013 6304 0.1% 330.251/1/2014 6301.65 0.0% 337.751/2/2014 6221.15 -0.6% 328.71/3/2014 6211.15 -0.1% 329.351/6/2014 6191.45 -0.1% 329.351/7/2014 6162.25 -0.2% 331.71/8/2014 6174.6 0.1% 332.41/9/2014 6168.35 0.0% 329.6

1/10/2014 6171.45 0.0% 330.551/13/2014 6272.75 0.7% 3311/14/2014 6241.85 -0.2% 327.951/15/2014 6320.9 0.5% 331.51/16/2014 6318.9 0.0% 315.551/17/2014 6261.65 -0.4% 310.91/20/2014 6303.95 0.3% 308.551/21/2014 6313.8 0.1% 304.91/22/2014 6338.95 0.2% 309.751/23/2014 6345.65 0.0% 314.651/24/2014 6266.75 -0.5% 313.15

1/27/2014 6135.85 -0.9% 306.91/28/2014 6126.25 -0.1% 3061/29/2014 6120.25 0.0% 301.91/30/2014 6073.7 -0.3% 308.651/31/2014 6089.5 0.1% 3152/3/2014 6001.8 -0.6% 305.852/4/2014 6000.9 0.0% 316.252/5/2014 6022.4 0.2% 314.32/6/2014 6036.3 0.1% 315.12/7/2014 6063.2 0.2% 315.55

2/10/2014 6053.45 -0.1% 3072/11/2014 6062.7 0.1% 304.62/12/2014 6084 0.2% 307.952/13/2014 6001.1 -0.6% 302.92/14/2014 6048.35 0.3% 305.42/17/2014 6073.3 0.2% 304.652/18/2014 6127.1 0.4% 302.252/19/2014 6152.75 0.2% 302.552/20/2014 6091.45 -0.4% 296.92/21/2014 6155.45 0.5% 288.152/24/2014 6186.1 0.2% 282.82/25/2014 6200.05 0.1% 287.12/26/2014 6238.8 0.3% 288.22/28/2014 6276.95 0.3% 287.63/3/2014 6221.45 -0.4% 286.653/4/2014 6297.95 0.5% 287.353/5/2014 6328.65 0.2% 282.753/6/2014 6401.15 0.5% 285.853/7/2014 6526.65 0.8% 301.9

3/10/2014 6537.25 0.1% 305.153/11/2014 6511.9 -0.2% 303.053/12/2014 6516.9 0.0% 300.153/13/2014 6493.1 -0.2% 300.93/14/2014 6504.2 0.1% 2953/18/2014 6516.65 0.1% 295.13/19/2014 6524.05 0.0% 299.73/20/2014 6483.1 -0.3% 295.53/21/2014 6493.2 0.1% 292.453/22/2014 6494.9 0.0% 293.93/24/2014 6583.5 0.6% 293.953/25/2014 6589.75 0.0% 294.853/26/2014 6601.4 0.1% 298.553/27/2014 6641.75 0.3% 310.73/28/2014 6695.9 0.4% 317.43/31/2014 6704.2 0.1% 317.754/1/2014 6721.05 0.1% 315.35

4/2/2014 6752.55 0.2% 325.854/3/2014 6736.1 -0.1% 320.74/4/2014 6694.35 -0.3% 316.24/7/2014 6695.05 0.0% 317.454/9/2014 6796.2 0.7% 320.1

4/10/2014 6796.4 0.0% 319.754/11/2014 6776.3 -0.1% 322.254/15/2014 6733.1 -0.3% 325.254/16/2014 6675.3 -0.4% 323.74/17/2014 6779.4 0.7% 325.554/21/2014 6817.65 0.2% 334.84/22/2014 6815.35 0.0% 335.254/23/2014 6840.8 0.2% 338.84/25/2014 6782.75 -0.4% 341.74/28/2014 6761.25 -0.1% 337.654/29/2014 6715.25 -0.3% 3354/30/2014 6696.4 -0.1% 328.055/2/2014 6694.8 0.0% 325.65/5/2014 6699.35 0.0% 320.35/6/2014 6715.3 0.1% 314.95/7/2014 6652.55 -0.4% 3115/8/2014 6659.85 0.0% 3085/9/2014 6858.8 1.3% 309.45

5/12/2014 7014.25 1.0% 317.555/13/2014 7108.75 0.6% 319.25/14/2014 7108.75 0.0% 323.25/15/2014 7123.15 0.1% 321.45/16/2014 7203 0.5% 330.755/19/2014 7263.55 0.4% 338.25/20/2014 7275.5 0.1% 347.555/21/2014 7252.9 -0.1% 339.35/22/2014 7276.4 0.1% 332.65/23/2014 7367.1 0.5% 343.655/26/2014 7359.05 0.0% 339.55/27/2014 7318 -0.2% 335.95/28/2014 7329.65 0.1% 341.65/29/2014 7235.65 -0.6% 337.555/30/2014 7229.95 0.0% 344.16/2/2014 7362.5 0.8% 361.66/3/2014 7415.85 0.3% 360.26/4/2014 7402.25 -0.1% 353.96/5/2014 7474.1 0.4% 355.26/6/2014 7583.4 0.6% 355.96/9/2014 7654.6 0.4% 356.4

6/10/2014 7656.4 0.0% 361.556/11/2014 7626.85 -0.2% 355.35

6/12/2014 7649.9 0.1% 3426/13/2014 7542.1 -0.6% 333.36/16/2014 7533.55 0.0% 332.656/17/2014 7631.7 0.6% 338.256/18/2014 7558.2 -0.4% 340.256/19/2014 7540.7 -0.1% 338.156/20/2014 7511.45 -0.2% 338.756/23/2014 7493.35 -0.1% 341.556/24/2014 7580.2 0.5% 340.956/25/2014 7569.25 -0.1% 3376/26/2014 7493.2 -0.4% 338.456/27/2014 7508.8 0.1% 331.76/30/2014 7611.35 0.6% 336.97/1/2014 7634.7 0.1% 335.57/2/2014 7725.15 0.5% 338.157/3/2014 7714.8 -0.1% 336.957/4/2014 7751.6 0.2% 339.257/7/2014 7787.15 0.2% 344.457/8/2014 7623.2 -0.9% 340.557/9/2014 7585 -0.2% 341.5

7/10/2014 7567.75 -0.1% 334.057/11/2014 7459.6 -0.6% 335.57/14/2014 7454.15 0.0% 332.17/15/2014 7526.65 0.4% 334.557/16/2014 7624.4 0.6% 336.27/17/2014 7640.45 0.1% 336.67/18/2014 7663.9 0.1% 336.257/21/2014 7684.2 0.1% 337.27/22/2014 7767.85 0.5% 354.157/23/2014 7795.75 0.2% 354.357/24/2014 7830.6 0.2% 354.67/25/2014 7790.45 -0.2% 354.87/28/2014 7748.7 -0.2% 353.957/30/2014 7791.4 0.2% 373.157/31/2014 7721.3 -0.4% 372.98/1/2014 7602.6 -0.7% 380.058/4/2014 7683.65 0.5% 376.98/5/2014 7746.55 0.4% 374.758/6/2014 7672.05 -0.4% 367.658/7/2014 7649.25 -0.1% 365.88/8/2014 7568.55 -0.5% 374

8/11/2014 7625.95 0.3% 376.458/12/2014 7727.05 0.6% 369.958/13/2014 7739.55 0.1% 368.68/14/2014 7791.7 0.3% 365.28/18/2014 7874.25 0.5% 376.3

8/19/2014 7897.5 0.1% 377.158/20/2014 7875.3 -0.1% 374.558/21/2014 7891.1 0.1% 371.18/22/2014 7913.2 0.1% 365.18/25/2014 7906.3 0.0% 369.18/26/2014 7904.75 0.0% 369.68/27/2014 7936.05 0.2% 3698/28/2014 7954.35 0.1% 369.89/1/2014 8027.7 0.4% 375.89/2/2014 8083.05 0.3% 391.69/3/2014 8114.6 0.2% 404.59/4/2014 8095.95 -0.1% 404.59/5/2014 8086.85 0.0% 401.19/8/2014 8173.9 0.5% 403.759/9/2014 8152.95 -0.1% 406.1

9/10/2014 8094.1 -0.3% 407.759/11/2014 8085.7 0.0% 406.059/12/2014 8105.5 0.1% 4149/15/2014 8042 -0.3% 411.559/16/2014 7932.9 -0.6% 412.39/17/2014 7975.5 0.2% 414.359/18/2014 8114.75 0.8% 415.99/19/2014 8121.45 0.0% 414.959/22/2014 8146.3 0.1% 415.159/23/2014 8017.55 -0.7% 406.59/24/2014 8002.4 -0.1% 403.159/25/2014 7911.85 -0.5% 406.259/26/2014 7968.85 0.3% 405.059/29/2014 7958.9 -0.1% 403.259/30/2014 7964.8 0.0% 405.210/1/2014 7945.55 -0.1% 403.210/7/2014 7852.4 -0.5% 403.410/8/2014 7842.7 -0.1% 399.710/9/2014 7960.55 0.6% 404.9510/10/2014 7859.95 -0.6% 392.310/13/2014 7884.25 0.1% 391.5510/14/2014 7864 -0.1% 398.410/16/2014 7748.2 -0.6% 388.1510/17/2014 7779.7 0.2% 395.9510/20/2014 7879.4 0.6% 401.710/21/2014 7927.75 0.3% 410.6510/22/2014 7995.9 0.4% 409.4510/23/2014 8014.55 0.1% 410.2510/27/2014 7991.7 -0.1% 414.5510/28/2014 8027.6 0.2% 407.710/29/2014 8090.45 0.3% 405.1

10/30/2014 8169.2 0.4% 407.510/31/2014 8322.2 0.8% 398.911/3/2014 8324.15 0.0% 395.7511/5/2014 8338.3 0.1% 384.5511/7/2014 8337 0.0% 390.8511/10/2014 8344.25 0.0% 391.2511/11/2014 8362.65 0.1% 38511/12/2014 8383.3 0.1% 387.311/13/2014 8357.85 -0.1% 390.911/14/2014 8389.9 0.2% 388.3511/17/2014 8430.75 0.2% 393.211/18/2014 8425.9 0.0% 399.511/19/2014 8382.3 -0.2% 401.7511/20/2014 8401.9 0.1% 397.7511/21/2014 8477.35 0.4% 401.5511/24/2014 8530.15 0.3% 399.4511/25/2014 8463.1 -0.3% 403.611/26/2014 8475.75 0.1% 393.35

Return DLF Return ITC Return Infosys147.4 314.15 3293.3

0.2% 149.4 0.6% 313.5 -0.1% 3327.80.5% 152.1 0.8% 320.4 0.9% 3354.550.7% 152.75 0.2% 321.5 0.1% 3338.7-0.2% 155.85 0.9% 319.2 -0.3% 3348.750.2% 153.2 -0.7% 312.85 -0.9% 3365.350.4% 155.95 0.8% 308.75 -0.6% 3351.3-0.4% 155.75 -0.1% 311.05 0.3% 3325.80.5% 165 2.5% 313.05 0.3% 3338.8-0.1% 160.45 -1.2% 317.9 0.7% 3370.85-0.9% 157.1 -0.9% 320.85 0.4% 3374.35-0.6% 156.2 -0.2% 316.8 -0.6% 3363.85-0.4% 150.9 -1.5% 315.3 -0.2% 3373.85-1.0% 152.25 0.4% 312.8 -0.3% 3452.251.9% 152 -0.1% 315.3 0.3% 3456.350.1% 160.25 2.3% 315.55 0.0% 3457.45-0.6% 158.55 -0.5% 313.65 -0.3% 3512.250.6% 162.9 1.2% 315.2 0.2% 3551.350.0% 169.85 1.8% 319.2 0.5% 3468.45-0.3% 170.95 0.3% 319.05 0.0% 3486.40.5% 170.5 -0.1% 320.25 0.2% 3520.650.0% 171.4 0.2% 322.45 0.3% 3561.30.1% 165.95 -1.4% 322.4 0.0% 3502.350.1% 166.7 0.2% 321.85 -0.1% 3485.651.0% 170.1 0.9% 322.4 0.1% 3468-1.2% 166.45 -0.9% 314.95 -1.0% 3480.550.1% 168.9 0.6% 314.75 0.0% 3565.150.0% 166.8 -0.5% 315.65 0.1% 3517.90.3% 163.95 -0.7% 316.7 0.1% 3457.150.1% 162.05 -0.5% 316.85 0.0% 3428.1-0.4% 158.8 -0.9% 315.6 -0.2% 3450.80.1% 156.5 -0.6% 322.6 1.0% 3551.250.1% 161.05 1.2% 325.45 0.4% 3665-0.4% 157.15 -1.1% 324.45 -0.1% 3686.750.5% 159.85 0.7% 328.85 0.6% 3712.05-2.1% 162.1 0.6% 325.5 -0.4% 3725.05-0.6% 155.35 -1.8% 324.85 -0.1% 3729.75-0.3% 155.8 0.1% 330.2 0.7% 3749.3-0.5% 157.25 0.4% 329.05 -0.2% 3758.350.7% 158.95 0.5% 327.35 -0.2% 3765.90.7% 159.3 0.1% 328.95 0.2% 3792.5-0.2% 153.05 -1.7% 324.25 -0.6% 3758.15

-0.9% 139.65 -4.0% 324.2 0.0% 3732.2-0.1% 141.25 0.5% 326.65 0.3% 3675.1-0.6% 141.1 0.0% 325 -0.2% 3717.81.0% 134.65 -2.0% 324.6 -0.1% 3704.250.9% 137.5 0.9% 325.1 0.1% 3701.1-1.3% 134.15 -1.1% 320.3 -0.6% 3629.151.5% 134.1 0.0% 324.9 0.6% 3561.1-0.3% 138.1 1.3% 318.95 -0.8% 3581.250.1% 135.3 -0.9% 324.55 0.8% 3563.70.1% 137.95 0.8% 323.45 -0.1% 3566.55-1.2% 142 1.3% 325 0.2% 3573.8-0.3% 140.45 -0.5% 325.1 0.0% 3596.250.5% 140.15 -0.1% 320.55 -0.6% 3600.1-0.7% 143 0.9% 316.9 -0.5% 3585.80.4% 145 0.6% 319.8 0.4% 3644.3-0.1% 142.55 -0.7% 320.1 0.0% 3658.15-0.3% 142.45 0.0% 316.9 -0.4% 36820.0% 143.15 0.2% 316.65 0.0% 3753.4-0.8% 143.65 0.2% 311.85 -0.7% 3711.25-1.3% 142.4 -0.4% 317.6 0.8% 3750.7-0.8% 142.8 0.1% 320.05 0.3% 3749.90.7% 141.55 -0.4% 321.95 0.3% 3782.90.2% 140.15 -0.4% 328.75 0.9% 3807.5-0.1% 141.15 0.3% 327.65 -0.1% 3824.85-0.1% 139.15 -0.6% 329.2 0.2% 3798.250.1% 139.85 0.2% 331.65 0.3% 3799.55-0.7% 144.75 1.5% 333.3 0.2% 3821.70.5% 152.15 2.2% 334.55 0.2% 3831.92.4% 166.9 4.0% 338.15 0.5% 3740.30.5% 171.6 1.2% 335.6 -0.3% 3671.6-0.3% 178.35 1.7% 334 -0.2% 3675.35-0.4% 179.15 0.2% 341 0.9% 3671.30.1% 168.35 -2.7% 343.4 0.3% 3357.6-0.9% 174.95 1.7% 347.2 0.5% 3394.150.0% 173.65 -0.3% 355.9 1.1% 3350.550.7% 173.95 0.1% 359.7 0.5% 3271.75-0.6% 167.1 -1.7% 355.8 -0.5% 3303.05-0.5% 171.1 1.0% 357.7 0.2% 3305.650.2% 170.75 -0.1% 356.6 -0.1% 3296.050.0% 171.6 0.2% 360.65 0.5% 3275.80.1% 177.6 1.5% 362.8 0.3% 3254.40.5% 175.2 -0.6% 359.05 -0.5% 3248.91.7% 174.9 -0.1% 359.9 0.1% 3231.050.9% 175.85 0.2% 358.45 -0.2% 3262.60.0% 176.45 0.1% 352.85 -0.7% 3282.8-0.3% 175 -0.4% 351.95 -0.1% 3313.95

1.4% 176.6 0.4% 344.35 -0.9% 3322.05-0.7% 171.75 -1.2% 345.9 0.2% 3338.15-0.6% 176.05 1.1% 344.75 -0.1% 3316.050.2% 171.05 -1.3% 345.45 0.1% 3293.40.4% 176.6 1.4% 347.95 0.3% 3254.550.0% 178.6 0.5% 343.85 -0.5% 3201.20.3% 176.3 -0.6% 343.5 0.0% 3235.150.4% 166.1 -2.6% 340.95 -0.3% 3259.8-0.2% 158.05 -2.2% 346.05 0.6% 3157.30.2% 159.65 0.4% 353.25 0.9% 3192.051.2% 157.8 -0.5% 353.4 0.0% 3182.950.1% 157.05 -0.2% 350.75 -0.3% 3150.650.5% 152.35 -1.3% 353.2 0.3% 3172.650.4% 153.6 0.4% 343.45 -1.2% 3175.6-0.5% 153.9 0.1% 342 -0.2% 3178.05-0.3% 153.75 0.0% 340.3 -0.2% 3177.75-0.9% 140.15 -4.0% 340.75 0.1% 3180.8-0.3% 139.8 -0.1% 340.25 -0.1% 3219.7-0.7% 139.05 -0.2% 344.7 0.6% 3176.9-0.7% 140.35 0.4% 347.95 0.4% 3165.15-0.5% 140.25 0.0% 346.65 -0.2% 3067.35-0.4% 139.65 -0.2% 342.15 -0.6% 3065.30.2% 144.75 1.6% 345.55 0.4% 3111.451.1% 146.2 0.4% 359.15 1.7% 3175.10.2% 152.35 1.8% 360.85 0.2% 3265.250.5% 160.6 2.3% 365.65 0.6% 3254.1-0.2% 159.95 -0.2% 368.15 0.3% 3272.451.2% 169.7 2.6% 356.95 -1.3% 3177.551.0% 182.3 3.1% 338.1 -2.4% 3015.051.2% 184.4 0.5% 340.85 0.4% 3122.2-1.0% 192.8 1.9% 341.65 0.1% 3157.1-0.9% 211 3.9% 345.8 0.5% 3113.91.4% 217.15 1.2% 343.1 -0.3% 3069.55-0.5% 204.3 -2.6% 344.65 0.2% 3094.85-0.5% 204.45 0.0% 343.8 -0.1% 3134.050.7% 205.65 0.3% 342.85 -0.1% 3173.3-0.5% 203.75 -0.4% 342.5 0.0% 2924.50.8% 210.1 1.3% 341.75 -0.1% 2939.42.2% 209.35 -0.2% 336.65 -0.7% 2993.15-0.2% 219.5 2.1% 333.4 -0.4% 3017.2-0.8% 219.15 -0.1% 330.95 -0.3% 2984.50.2% 219.7 0.1% 333.75 0.4% 3041.150.1% 233.15 2.6% 336.7 0.4% 3003.050.1% 241.35 1.5% 337.95 0.2% 2986.450.6% 233.25 -1.5% 337.35 -0.1% 3075.15-0.8% 220.9 -2.4% 333.3 -0.5% 3193.35

-1.7% 223 0.4% 334.1 0.1% 3175.05-1.1% 204.9 -3.7% 332.6 -0.2% 3187-0.1% 210.45 1.2% 336.2 0.5% 3244.150.7% 212.5 0.4% 336.05 0.0% 3246.850.3% 207.5 -1.0% 332.95 -0.4% 3240.5-0.3% 207.1 -0.1% 336.25 0.4% 3311.90.1% 208.35 0.3% 335.7 -0.1% 3316.60.4% 209.75 0.3% 314.95 -2.8% 3232.55-0.1% 219.2 1.9% 320.5 0.8% 3203.8-0.5% 217.2 -0.4% 316.05 -0.6% 3211.250.2% 210.35 -1.4% 316.25 0.0% 3182.5-0.9% 211.05 0.1% 319.75 0.5% 3223.40.7% 215.05 0.8% 325.05 0.7% 3255.55-0.2% 216.55 0.3% 325.2 0.0% 3221.050.3% 218.85 0.5% 329.35 0.6% 3215.3-0.2% 216 -0.6% 331.35 0.3% 3210.70.3% 218.6 0.5% 333.4 0.3% 3245.950.7% 223.25 0.9% 334.8 0.2% 3345.45-0.5% 205.75 -3.5% 335.8 0.1% 3342.150.1% 204 -0.4% 341.5 0.7% 3310.35-1.0% 222.4 3.8% 342.15 0.1% 3292.70.2% 209.35 -2.6% 345.9 0.5% 3326.65-0.4% 206.9 -0.5% 344.95 -0.1% 3225.250.3% 213.1 1.3% 342.35 -0.3% 3225.650.2% 225.45 2.4% 344.2 0.2% 3229.60.1% 222.2 -0.6% 344.25 0.0% 3239.30.0% 221 -0.2% 344.1 0.0% 3251.550.1% 214.8 -1.2% 349.85 0.7% 3200.72.1% 216.85 0.4% 352.9 0.4% 3233.70.0% 214.75 -0.4% 353.65 0.1% 3349.450.0% 213.9 -0.2% 356.45 0.3% 3382.250.0% 204.75 -1.9% 357.3 0.1% 3352.2-0.1% 194.35 -2.3% 357.2 0.0% 3371.12.3% 200.1 1.3% 359.25 0.2% 3372.20.0% 198.25 -0.4% 356.05 -0.4% 3367.650.8% 200.75 0.5% 349.55 -0.8% 3341.3-0.4% 201 0.1% 354.5 0.6% 3465.55-0.2% 205.45 1.0% 356 0.2% 3513-0.8% 202.5 -0.6% 346.05 -1.2% 3575.85-0.2% 202.85 0.1% 346.25 0.0% 3507.351.0% 194.1 -1.9% 348.55 0.3% 3482.650.3% 199.25 1.1% 347.7 -0.1% 3573.5-0.8% 202.3 0.7% 347.05 -0.1% 3576.8-0.2% 194.3 -1.8% 357.3 1.3% 3608.4-0.4% 196.2 0.4% 356.85 -0.1% 3612.551.3% 198.15 0.4% 350.65 -0.8% 3559.8

0.1% 200.25 0.5% 348.6 -0.3% 3547.8-0.3% 201.3 0.2% 344.95 -0.5% 3554.55-0.4% 196.7 -1.0% 346.15 0.2% 3548.95-0.7% 194.75 -0.4% 343.65 -0.3% 36010.5% 190.85 -0.9% 349.3 0.7% 3627.80.1% 191.65 0.2% 352.45 0.4% 3624.15-0.1% 182.9 -2.0% 352.35 0.0% 3630.550.1% 177.3 -1.4% 355.3 0.4% 3598.80.7% 179.75 0.6% 350.55 -0.6% 3599.651.8% 184.05 1.0% 354.7 0.5% 3613.751.4% 182.9 -0.3% 348.9 -0.7% 3734.250.0% 167.5 -3.8% 350.4 0.2% 3708.75-0.4% 175.45 2.0% 350.8 0.0% 3730.750.3% 176.8 0.3% 353.95 0.4% 3781.650.3% 174.15 -0.7% 358.2 0.5% 3736.050.2% 177 0.7% 351.05 -0.9% 3667.3-0.2% 175.2 -0.4% 351.2 0.0% 3684.150.8% 176.15 0.2% 355.65 0.5% 3669.9-0.3% 173.65 -0.6% 351.7 -0.5% 3641.30.1% 168.5 -1.3% 353.15 0.2% 3651.250.2% 169.1 0.2% 354.75 0.2% 3741.050.2% 175.3 1.6% 358.7 0.5% 3697-0.1% 171.95 -0.8% 359.4 0.1% 3702.050.0% 166.7 -1.3% 370.75 1.4% 3650.6-0.9% 155.5 -3.0% 370.8 0.0% 3607.1-0.4% 159.6 1.1% 377.2 0.7% 3644.80.3% 155.6 -1.1% 376.65 -0.1% 3691-0.1% 162.55 1.9% 371.7 -0.6% 3680.15-0.2% 158.3 -1.2% 366.1 -0.7% 3749.050.2% 150.85 -2.1% 370.2 0.5% 3747.75-0.2% 150.4 -0.1% 364.1 -0.7% 3847.30.0% 141.6 -2.6% 362.75 -0.2% 3831.3-0.4% 148.85 2.2% 365.7 0.4% 3650.150.6% 152.85 1.2% 365.5 0.0% 3646.8-1.4% 152.65 -0.1% 353.1 -1.5% 3888.65-0.1% 146.9 -1.7% 350.55 -0.3% 3942.550.8% 104.95 -14.6% 347 -0.4% 3918.3-1.1% 110.35 2.2% 352.45 0.7% 3865.30.9% 110.6 0.1% 353.95 0.2% 3851.650.6% 115.15 1.8% 352 -0.2% 3812.351.0% 121.4 2.3% 351.35 -0.1% 3772.95-0.1% 120.15 -0.4% 349 -0.3% 3796.050.1% 119.95 -0.1% 350.4 0.2% 3805.050.5% 110.5 -3.6% 349.55 -0.1% 3803.05-0.7% 111.3 0.3% 350.15 0.1% 3788.25-0.3% 118.15 2.6% 354.45 0.5% 3881.45

0.3% 124.15 2.2% 354.9 0.1% 3946.55-0.9% 124.75 0.2% 355.2 0.0% 4051.25-0.3% 128.55 1.3% 355.45 0.0% 4085.9-1.2% 126.75 -0.6% 359.15 0.4% 4124.80.7% 134.5 2.6% 355.65 -0.4% 4166.60.0% 135.85 0.4% 371.7 1.9% 4165.5-0.7% 136.75 0.3% 364.1 -0.9% 4125.20.3% 140.05 1.0% 369.5 0.6% 41060.4% 139.35 -0.2% 368.35 -0.1% 4178.6-0.3% 142.3 0.9% 369.2 0.1% 4191.650.5% 139.7 -0.8% 370.2 0.1% 4218.450.7% 138.75 -0.3% 370.25 0.0% 4182.350.2% 141.2 0.8% 367.85 -0.3% 4173.35-0.4% 138.6 -0.8% 370.05 0.3% 4225.60.4% 140.4 0.6% 376.15 0.7% 4146.15-0.2% 147.5 2.1% 374.95 -0.1% 4275.10.4% 141.95 -1.7% 355.4 -2.3% 4303.2-1.1% 152.15 3.0% 363.4 1.0% 4300.45

Markowitz Efficient Frontier

Portfolio Return

Portfolio SD

Sharp Ratio

Weights

Bharti Airtel

0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00%0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

Portfolio Risk

Port

folio R

etu

rn

Weights

DLFITC

InfosysTata Steel

Return Tata Steel Return394.75

0.5% 400.9 0.7%0.3% 400.6 0.0%-0.2% 408.3 0.8%0.1% 409.8 0.2%0.2% 413.95 0.4%-0.2% 421.4 0.8%-0.3% 422.7 0.1%0.2% 420.95 -0.2%0.4% 423.3 0.2%0.0% 418.25 -0.5%-0.1% 412.75 -0.6%0.1% 415.15 0.3%1.0% 408.9 -0.7%0.1% 408.7 0.0%0.0% 414.9 0.7%0.7% 410.8 -0.4%0.5% 417.95 0.7%-1.0% 423.15 0.5%0.2% 418.4 -0.5%0.4% 425.35 0.7%0.5% 425.05 0.0%-0.7% 425.55 0.1%-0.2% 424.2 -0.1%-0.2% 425.9 0.2%0.2% 419.2 -0.7%1.0% 412.5 -0.7%-0.6% 408.3 -0.4%-0.8% 394.7 -1.5%-0.4% 392.4 -0.3%0.3% 390.8 -0.2%1.2% 384.5 -0.7%1.4% 385.95 0.2%0.3% 374.35 -1.3%0.3% 375 0.1%0.2% 381.1 0.7%0.1% 377.65 -0.4%0.2% 374.55 -0.4%0.1% 383.6 1.0%0.1% 393.25 1.1%0.3% 389.25 -0.4%-0.4% 376 -1.5%

-0.3% 353.55 -2.7%-0.7% 366.65 1.6%0.5% 358 -1.0%-0.2% 346.55 -1.4%0.0% 356.05 1.2%-0.9% 343.1 -1.6%-0.8% 342.95 0.0%0.2% 359.4 2.0%-0.2% 361.25 0.2%0.0% 384.45 2.7%0.1% 382.5 -0.2%0.3% 389.75 0.8%0.0% 374.35 -1.8%-0.2% 367.45 -0.8%0.7% 370.8 0.4%0.2% 374.05 0.4%0.3% 379.65 0.6%0.8% 373.85 -0.7%-0.5% 366.75 -0.8%0.5% 374.4 0.9%0.0% 369.2 -0.6%0.4% 360.55 -1.0%0.3% 349.3 -1.4%0.2% 343.8 -0.7%-0.3% 345.3 0.2%0.0% 351.75 0.8%0.3% 355.95 0.5%0.1% 364.2 1.0%-1.1% 371.1 0.8%-0.8% 364.15 -0.8%0.0% 343.75 -2.5%0.0% 339.6 -0.5%-3.9% 336.85 -0.4%0.5% 341.7 0.6%-0.6% 340.7 -0.1%-1.0% 356.6 2.0%0.4% 349.95 -0.8%0.0% 362.85 1.6%-0.1% 362.3 -0.1%-0.3% 363.1 0.1%-0.3% 367.1 0.5%-0.1% 374.8 0.9%-0.2% 375.4 0.1%0.4% 381.5 0.7%0.3% 393.95 1.4%0.4% 401.15 0.8%

0.1% 403.45 0.2%0.2% 397.65 -0.6%-0.3% 402 0.5%-0.3% 406.65 0.5%-0.5% 418.75 1.3%-0.7% 417.8 -0.1%0.5% 419.85 0.2%0.3% 409.15 -1.1%-1.4% 413.7 0.5%0.5% 418.9 0.5%-0.1% 423.5 0.5%-0.4% 420.85 -0.3%0.3% 426.55 0.6%0.0% 426.9 0.0%0.0% 425.8 -0.1%0.0% 405.5 -2.1%0.0% 400.65 -0.5%0.5% 390.05 -1.2%-0.6% 397.55 0.8%-0.2% 401.75 0.5%-1.4% 399.9 -0.2%0.0% 402 0.2%0.6% 416.7 1.6%0.9% 420.05 0.3%1.2% 427.1 0.7%-0.1% 452.35 2.5%0.2% 460.6 0.8%-1.3% 440.9 -1.9%-2.3% 450.75 1.0%1.5% 467.15 1.6%0.5% 462.55 -0.4%-0.6% 470.9 0.8%-0.6% 478.2 0.7%0.4% 467.65 -1.0%0.5% 477.6 0.9%0.5% 469.25 -0.8%-3.5% 465.95 -0.3%0.2% 475.1 0.8%0.8% 492.9 1.6%0.3% 526.8 2.9%-0.5% 537.4 0.9%0.8% 556.95 1.6%-0.5% 560.65 0.3%-0.2% 575.25 1.1%1.3% 558.7 -1.3%1.6% 549.45 -0.7%

-0.2% 549.65 0.0%0.2% 525.55 -1.9%0.8% 524.6 -0.1%0.0% 532.3 0.6%-0.1% 521.9 -0.9%0.9% 519.45 -0.2%0.1% 519.9 0.0%-1.1% 526.9 0.6%-0.4% 532.3 0.4%0.1% 530.95 -0.1%-0.4% 525.8 -0.4%0.6% 518.9 -0.6%0.4% 528.4 0.8%-0.5% 540.65 1.0%-0.1% 543.5 0.2%-0.1% 539.05 -0.4%0.5% 536.6 -0.2%1.3% 536.05 0.0%0.0% 513.55 -1.9%-0.4% 518.35 0.4%-0.2% 521.4 0.3%0.4% 501.9 -1.7%-1.3% 513.4 1.0%0.0% 527.15 1.1%0.1% 542.7 1.3%0.1% 558.8 1.3%0.2% 563 0.3%-0.7% 562.7 0.0%0.4% 562.2 0.0%1.5% 554.55 -0.6%0.4% 568.1 1.0%-0.4% 557.6 -0.8%0.2% 548.5 -0.7%0.0% 546.1 -0.2%-0.1% 553.4 0.6%-0.3% 548.75 -0.4%1.6% 551.85 0.2%0.6% 562.2 0.8%0.8% 550.5 -0.9%-0.8% 555.8 0.4%-0.3% 537.7 -1.4%1.1% 534.75 -0.2%0.0% 542.05 0.6%0.4% 534.5 -0.6%0.0% 541.7 0.6%-0.6% 546.45 0.4%

-0.1% 544.1 -0.2%0.1% 545.55 0.1%-0.1% 536.6 -0.7%0.6% 537.75 0.1%0.3% 512 -2.1%0.0% 524.95 1.1%0.1% 523.2 -0.1%-0.4% 513.15 -0.8%0.0% 524.1 0.9%0.2% 519.2 -0.4%1.4% 526 0.6%-0.3% 509.05 -1.4%0.3% 513.4 0.4%0.6% 517.45 0.3%-0.5% 518.65 0.1%-0.8% 519.2 0.0%0.2% 517.6 -0.1%-0.2% 515.95 -0.1%-0.3% 507.7 -0.7%0.1% 490.15 -1.5%1.1% 498.4 0.7%-0.5% 505.45 0.6%0.1% 511 0.5%-0.6% 500.9 -0.9%-0.5% 485.6 -1.3%0.5% 472.2 -1.2%0.5% 460.4 -1.1%-0.1% 474.25 1.3%0.8% 466.4 -0.7%0.0% 459.05 -0.7%1.1% 448.8 -1.0%-0.2% 440.15 -0.8%-2.1% 456.15 1.6%0.0% 467.55 1.1%2.8% 448.05 -1.9%0.6% 457.75 0.9%-0.3% 456.05 -0.2%-0.6% 439.1 -1.6%-0.2% 447.55 0.8%-0.4% 450.15 0.3%-0.5% 455.7 0.5%0.3% 457.15 0.1%0.1% 459.1 0.2%0.0% 450.5 -0.8%-0.2% 451.2 0.1%1.1% 471.7 1.9%

0.7% 474.5 0.3%1.1% 490 1.4%0.4% 489.15 -0.1%0.4% 478.1 -1.0%0.4% 471.4 -0.6%0.0% 470.85 -0.1%-0.4% 480.3 0.9%-0.2% 468.35 -1.1%0.8% 471.25 0.3%0.1% 478.15 0.6%0.3% 480.1 0.2%-0.4% 486.4 0.6%-0.1% 471 -1.4%0.5% 466.6 -0.4%-0.8% 462.9 -0.3%1.3% 476.6 1.3%0.3% 464.45 -1.1%0.0% 466.25 0.2%

Mean

Annual SD

Beta

Expected Return

Weights(w) Stocks

Markowitz Efficient Frontier 0.00% Bharti Airtel

79.95% DLF0.00% ITC0.00% Infosys

20.05% Tata Steel100.00%

Portfolio ReturnPortfolio SDSharp Ratio

Markowitz frontier

11.96% 13.12% 14.10% 14.66% 16.13%

5.54% 6.00% 7.00% 8.03% 10.00%

0.69 0.83 0.85 0.81 0.8025.37% 25.65% 25.88% 20.00% 26.32%

0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00%0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

Portfolio Risk

Port

folio R

etu

rn

0.52% 5.82% 10.37% 20.00% 19.65%37.25% 29.36% 22.69% 20.00% 9.04%26.13% 20.19% 15.12% 20.00% 4.67%10.73% 18.98% 25.94% 20.00% 40.31%

Return Table

CNX Nifity Bharti Airtel DLF ITC Infosys0.248% 0.229% 0.585% -0.090% 0.453%

0.597% 0.454% 0.778% 0.945% 0.348%

0.293% 0.737% 0.185% 0.149% -0.206%

-0.112% -0.209% 0.873% -0.312% 0.131%

-0.287% 0.164% -0.745% -0.873% 0.215%

0.561% 0.403% 0.773% -0.573% -0.182%

0.131% -0.384% -0.056% 0.322% -0.332%

0.716% 0.513% 2.506% 0.278% 0.169%

-0.212% -0.142% -1.214% 0.668% 0.415%

-0.171% -0.936% -0.916% 0.401% 0.045%

-0.491% -0.600% -0.250% -0.552% -0.135%

-0.481% -0.371% -1.499% -0.206% 0.129%

-0.097% -1.027% 0.387% -0.346% 0.998%

-0.111% 1.898% -0.071% 0.346% 0.052%

0.549% 0.053% 2.295% 0.034% 0.014%

-0.354% -0.560% -0.463% -0.262% 0.683%

0.751% 0.580% 1.175% 0.214% 0.481%

0.071% 0.046% 1.814% 0.548% -1.026%

-0.111% -0.345% 0.280% -0.020% 0.224%

0.073% 0.517% -0.114% 0.163% 0.425%

0.241% -0.046% 0.229% 0.297% 0.499%

-0.156% 0.059% -1.403% -0.007% -0.725%

0.089% 0.079% 0.196% -0.074% -0.208%

-0.016% 0.975% 0.877% 0.074% -0.220%

-0.558% -1.180% -0.942% -1.015% 0.157%

-0.070% 0.086% 0.635% -0.028% 1.043%

-0.138% 0.000% -0.543% 0.124% -0.579%

-0.205% 0.309% -0.748% 0.144% -0.757%

0.087% 0.092% -0.506% 0.021% -0.366%

-0.044% -0.367% -0.880% -0.172% 0.287%

0.022% 0.125% -0.634% 0.953% 1.246%

0.707% 0.059% 1.245% 0.382% 1.369%

-0.214% -0.402% -1.065% -0.134% 0.257%

0.547% 0.468% 0.740% 0.585% 0.297%

-0.014% -2.142% 0.607% -0.445% 0.152%

-0.395% -0.645% -1.847% -0.087% 0.055%

0.292% -0.330% 0.126% 0.709% 0.227%

0.068% -0.517% 0.402% -0.152% 0.105%

0.173% 0.685% 0.467% -0.225% 0.087%

0.046% 0.682% 0.096% 0.212% 0.306%

-0.543% -0.208% -1.738% -0.625% -0.395%

-0.917% -0.876% -3.979% -0.007% -0.301%

-0.068% -0.128% 0.495% 0.327% -0.670%

-0.043% -0.586% -0.046% -0.220% 0.502%

-0.332% 0.960% -2.032% -0.053% -0.159%

0.113% 0.884% 0.910% 0.067% -0.037%

-0.630% -1.280% -1.071% -0.646% -0.853%

-0.007% 1.452% -0.016% 0.619% -0.822%

0.155% -0.269% 1.276% -0.803% 0.245%

0.100% 0.110% -0.890% 0.756% -0.213%

0.193% 0.062% 0.842% -0.147% 0.035%

-0.070% -1.193% 1.257% 0.208% 0.088%

0.066% -0.341% -0.477% 0.013% 0.272%

0.152% 0.475% -0.093% -0.612% 0.046%

-0.596% -0.718% 0.874% -0.497% -0.173%

0.341% 0.357% 0.603% 0.396% 0.703%

0.179% -0.107% -0.740% 0.041% 0.165%

0.383% -0.343% -0.030% -0.436% 0.282%

0.181% 0.043% 0.213% -0.034% 0.834%

-0.435% -0.819% 0.151% -0.663% -0.490%

0.454% -1.299% -0.380% 0.793% 0.459%

0.216% -0.814% 0.122% 0.334% -0.009%

0.098% 0.655% -0.382% 0.257% 0.381%

0.271% 0.166% -0.432% 0.908% 0.282%

0.265% -0.091% 0.309% -0.146% 0.197%

-0.386% -0.144% -0.620% 0.205% -0.303%

0.531% 0.106% 0.218% 0.322% 0.015%

0.211% -0.701% 1.496% 0.216% 0.252%

0.495% 0.474% 2.165% 0.163% 0.116%

0.843% 2.372% 4.018% 0.465% -1.051%

0.070% 0.465% 1.206% -0.329% -0.805%

-0.169% -0.300% 1.676% -0.208% 0.044%

0.033% -0.418% 0.194% 0.901% -0.048%

-0.159% 0.108% -2.700% 0.305% -3.879%

0.074% -0.860% 1.670% 0.478% 0.470%

0.083% 0.015% -0.324% 1.075% -0.561%

0.049% 0.672% 0.075% 0.461% -1.034%

-0.273% -0.613% -1.745% -0.473% 0.414%

0.068% -0.451% 1.027% 0.231% 0.034%

0.011% 0.215% -0.089% -0.134% -0.126%

0.588% 0.007% 0.216% 0.490% -0.268%

0.041% 0.133% 1.493% 0.258% -0.285%

0.077% 0.542% -0.591% -0.451% -0.073%

0.265% 1.732% -0.074% 0.103% -0.239%

0.353% 0.927% 0.235% -0.175% 0.422%

0.054% 0.048% 0.148% -0.684% 0.268%

0.109% -0.329% -0.358% -0.111% 0.410%

0.203% 1.422% 0.395% -0.948% 0.106%

-0.106% -0.692% -1.209% 0.195% 0.210%

-0.270% -0.614% 1.074% -0.145% -0.288%

0.005% 0.171% -1.251% 0.088% -0.298%

0.651% 0.361% 1.387% 0.313% -0.515%

0.001% -0.048% 0.489% -0.515% -0.718%

-0.129% 0.338% -0.563% -0.044% 0.458%

-0.278% 0.402% -2.588% -0.324% 0.330%

-0.374% -0.207% -2.158% 0.645% -1.388%

0.672% 0.248% 0.437% 0.894% 0.475%

0.244% 1.217% -0.506% 0.018% -0.124%

-0.015% 0.058% -0.207% -0.327% -0.443%

0.162% 0.457% -1.320% 0.302% 0.302%

-0.370% 0.370% 0.355% -1.216% 0.040%

-0.138% -0.518% 0.085% -0.184% 0.033%

-0.296% -0.342% -0.042% -0.216% -0.004%

-0.122% -0.910% -4.022% 0.057% 0.042%

-0.010% -0.326% -0.109% -0.064% 0.528%

0.030% -0.713% -0.234% 0.564% -0.581%

0.103% -0.738% 0.404% 0.408% -0.161%

-0.408% -0.541% -0.031% -0.163% -1.363%

0.048% -0.421% -0.186% -0.567% -0.029%

1.278% 0.204% 1.558% 0.429% 0.649%

0.973% 1.122% 0.433% 1.676% 0.879%

0.581% 0.225% 1.790% 0.205% 1.216%

0.000% 0.541% 2.290% 0.574% -0.149%

0.088% -0.243% -0.176% 0.296% 0.244%

0.484% 1.245% 2.570% -1.342% -1.278%

0.364% 0.967% 3.110% -2.356% -2.280%

0.071% 1.184% 0.497% 0.352% 1.517%

-0.135% -1.043% 1.935% 0.102% 0.483%

0.140% -0.866% 3.918% 0.524% -0.598%

0.538% 1.419% 1.248% -0.340% -0.623%

-0.047% -0.528% -2.649% 0.196% 0.356%

-0.243% -0.463% 0.032% -0.107% 0.547%

0.069% 0.731% 0.254% -0.120% 0.541%

-0.561% -0.518% -0.403% -0.044% -3.546%

-0.034% 0.835% 1.333% -0.095% 0.221%

0.789% 2.154% -0.155% -0.653% 0.787%

0.314% -0.168% 2.056% -0.421% 0.348%

-0.080% -0.766% -0.069% -0.320% -0.473%

0.420% 0.159% 0.109% 0.366% 0.817%

0.631% 0.086% 2.581% 0.382% -0.548%

0.406% 0.061% 1.501% 0.161% -0.241%

0.010% 0.623% -1.483% -0.077% 1.271%

-0.168% -0.751% -2.363% -0.525% 1.638%

0.131% -1.663% 0.411% 0.104% -0.250%

-0.616% -1.119% -3.676% -0.195% 0.163%

-0.049% -0.085% 1.161% 0.468% 0.772%

0.562% 0.725% 0.421% -0.019% 0.036%

-0.420% 0.256% -1.034% -0.402% -0.085%

-0.101% -0.269% -0.084% 0.428% 0.947%

-0.169% 0.077% 0.261% -0.071% 0.062%

-0.105% 0.357% 0.291% -2.771% -1.115%

0.500% -0.076% 1.914% 0.759% -0.388%

-0.063% -0.506% -0.398% -0.607% 0.101%

-0.439% 0.186% -1.392% 0.027% -0.391%

0.090% -0.875% 0.144% 0.478% 0.555%

0.589% 0.676% 0.815% 0.714% 0.431%

0.133% -0.181% 0.302% 0.020% -0.463%

0.511% 0.342% 0.459% 0.551% -0.078%

-0.058% -0.154% -0.569% 0.263% -0.062%

0.207% 0.295% 0.520% 0.268% 0.474%

0.199% 0.661% 0.914% 0.182% 1.311%

-0.924% -0.495% -3.545% 0.130% -0.043%

-0.218% 0.121% -0.371% 0.731% -0.415%

-0.099% -0.958% 3.750% 0.083% -0.232%

-0.625% 0.188% -2.626% 0.473% 0.445%

-0.032% -0.442% -0.511% -0.119% -1.344%

0.420% 0.319% 1.282% -0.329% 0.005%

0.560% 0.214% 2.447% 0.234% 0.053%

0.091% 0.052% -0.631% 0.006% 0.130%

0.133% -0.045% -0.235% -0.019% 0.164%

0.115% 0.123% -1.236% 0.720% -0.685%

0.470% 2.130% 0.413% 0.377% 0.445%

0.156% 0.025% -0.423% 0.092% 1.527%

0.194% 0.031% -0.172% 0.342% 0.423%

-0.223% 0.024% -1.899% 0.103% -0.388%

-0.233% -0.104% -2.264% -0.012% 0.244%

0.239% 2.294% 1.266% 0.249% 0.014%

-0.393% -0.029% -0.403% -0.389% -0.059%

-0.673% 0.825% 0.544% -0.800% -0.341%

0.461% -0.361% 0.054% 0.611% 1.586%

0.354% -0.248% 0.951% 0.183% 0.591%

-0.420% -0.831% -0.628% -1.231% 0.770%

-0.129% -0.219% 0.075% 0.025% -0.840%

-0.461% 0.963% -1.915% 0.288% -0.307%

0.328% 0.284% 1.137% -0.106% 1.118%

0.572% -0.756% 0.660% -0.081% 0.040%

0.070% -0.159% -1.752% 1.264% 0.382%

0.292% -0.402% 0.423% -0.055% 0.050%

0.458% 1.300% 0.430% -0.761% -0.639%

0.128% 0.098% 0.458% -0.255% -0.147%

-0.122% -0.300% 0.227% -0.457% 0.083%

0.087% -0.402% -1.004% 0.151% -0.068%

0.121% -0.708% -0.433% -0.315% 0.632%

-0.038% 0.473% -0.879% 0.708% 0.322%

-0.009% 0.059% 0.182% 0.390% -0.044%

0.172% -0.071% -2.030% -0.012% 0.077%

0.100% 0.094% -1.350% 0.362% -0.381%

0.399% 0.699% 0.596% -0.585% 0.010%

0.298% 1.789% 1.027% 0.511% 0.170%

0.169% 1.408% -0.272% -0.716% 1.425%

-0.100% 0.000% -3.820% 0.186% -0.298%

-0.049% -0.367% 2.014% 0.050% 0.257%

0.465% 0.286% 0.333% 0.388% 0.589%

-0.111% 0.252% -0.656% 0.518% -0.527%

-0.315% 0.176% 0.705% -0.876% -0.807%

-0.045% -0.181% -0.444% 0.019% 0.199%

0.106% 0.842% 0.235% 0.547% -0.168%

-0.342% -0.258% -0.621% -0.485% -0.340%

-0.593% 0.079% -1.307% 0.179% 0.119%

0.233% 0.215% 0.154% 0.196% 1.055%

0.752% 0.162% 1.564% 0.481% -0.514%

0.036% -0.099% -0.838% 0.085% 0.059%

0.133% 0.021% -1.347% 1.350% -0.608%

-0.692% -0.914% -3.021% 0.006% -0.521%

-0.082% -0.359% 1.130% 0.743% 0.452%

-0.494% 0.333% -1.102% -0.063% 0.547%

0.312% -0.128% 1.898% -0.575% -0.128%

-0.054% -0.193% -1.151% -0.659% 0.806%

0.032% 0.210% -2.094% 0.484% -0.015%

-0.105% -0.215% -0.130% -0.722% 1.139%

-0.512% 0.022% -2.618% -0.161% -0.181%

-0.054% -0.400% 2.169% 0.352% -2.104%

0.648% 0.567% 1.152% -0.024% -0.040%

-0.552% -1.378% -0.057% -1.499% 2.789%

0.134% -0.083% -1.668% -0.315% 0.598%

-0.112% 0.753% -14.604% -0.442% -0.268%

-0.644% -1.132% 2.179% 0.677% -0.591%

0.176% 0.864% 0.098% 0.184% -0.154%

0.553% 0.626% 1.751% -0.240% -0.445%

0.266% 0.957% 2.295% -0.080% -0.451%

0.372% -0.127% -0.449% -0.291% 0.265%

0.101% 0.085% -0.072% 0.174% 0.103%

-0.124% 0.453% -3.564% -0.105% -0.023%

0.195% -0.724% 0.313% 0.074% -0.169%

0.339% -0.278% 2.594% 0.530% 1.056%

0.421% 0.257% 2.151% 0.055% 0.722%

0.806% -0.926% 0.209% 0.037% 1.137%

0.010% -0.344% 1.303% 0.031% 0.370%

0.074% -1.247% -0.612% 0.450% 0.412%

-0.007% 0.706% 2.577% -0.425% 0.438%

0.038% 0.044% 0.434% 1.917% -0.011%

0.096% -0.699% 0.287% -0.897% -0.422%

0.107% 0.259% 1.036% 0.639% -0.203%

-0.132% 0.402% -0.218% -0.135% 0.761%

0.166% -0.284% 0.910% 0.100% 0.135%

0.211% 0.539% -0.801% 0.117% 0.277%

-0.025% 0.690% -0.296% 0.006% -0.373%

-0.225% 0.244% 0.760% -0.282% -0.094%

0.101% -0.435% -0.807% 0.259% 0.540%

0.388% 0.413% 0.560% 0.710% -0.824%

0.270% -0.228% 2.142% -0.139% 1.330%

-0.343% 0.449% -1.666% -2.326% 0.285%

0.065% -1.117% 3.014% 0.967% -0.028%

14.53% 8.67% 1.37% 6.30% 11.54%

5.37% 10.74% 25.96% 8.76% 10.97%

0.73 2.18 0.43 0.34

12.81% 22.04% 10.87% 10.30%

Annual SD Expected Return Risk Free Return 8.15%

10.74% 12.81%

25.96% 22.04%8.76% 10.87%

10.97% 10.30%14.41% 17.26%

21.08%22.00%

0.588

18.78% 20.55% 21.08% 22.04%

15.00% 20.00% 22.00% 25.91%

0.71 0.62 0.59 0.545.04% 0.00% 0.00% 38.98%

36.54% 68.75% 79.95% 1.54%0.00% 0.00% 0.00% 0.01%0.00% 0.00% 0.00% 41.78%58.42% 31.25% 20.05% 17.69%

Tata Steel0.671%

-0.033%

0.827%

0.159%

0.438%

0.775%

0.134% Covariance Matrix

-0.180% Bharti Airtel DLF ITC

0.242% Bharti Airtel 0.01 0.00 0.00

-0.521% DLF 0.00 0.07 0.00

-0.575% ITC 0.00 0.00 0.01

0.252% Infosys 0.00 0.00 0.00

-0.659% Tata Steel 0.00 0.01 0.00

-0.021%

0.654%

-0.431%

0.749%

0.537%

-0.490%

0.715%

-0.031%

0.051%

-0.138%

0.174%

-0.689%

-0.700%

-0.444%

-1.471%

-0.254%

-0.177%

-0.706%

0.163%

-1.325%

0.075%

0.701%

-0.395%

-0.358%

1.037%

1.079%

-0.444%

-1.504%

-2.674%

1.580%

-1.037%

-1.412%

1.175%

-1.609%

-0.019%

2.035%

0.223%

2.703%

-0.221%

0.815%

-1.751%

-0.808%

0.394%

0.379%

0.645%

-0.669%

-0.833%

0.897%

-0.607%

-1.030%

-1.377%

-0.689%

0.189%

0.804%

0.515%

0.995%

0.815%

-0.821%

-2.504%

-0.528%

-0.353%

0.621%

-0.127%

1.981%

-0.818%

1.572%

-0.066%

0.096%

0.476%

0.902%

0.069%

0.700%

1.395%

0.787%

0.248%

-0.629%

0.473%

0.499%

1.273%

-0.099%

0.213%

-1.121%

0.480%

0.542%

0.474%

-0.273%

0.584%

0.036%

-0.112%

-2.121%

-0.523%

-1.164%

0.827%

0.456%

-0.200%

0.227%

1.560%

0.348%

0.723%

2.495%

0.785%

-1.898%

0.960%

1.552%

-0.430%

0.777%

0.668%

-0.969%

0.914%

-0.766%

-0.306%

0.845%

1.597%

2.889%

0.865%

1.552%

0.288%

1.116%

-1.268%

-0.725%

0.016%

-1.947%

-0.079%

0.633%

-0.857%

-0.204%

0.038%

0.581%

0.443%

-0.110%

-0.423%

-0.574%

0.788%

0.995%

0.228%

-0.357%

-0.198%

-0.045%

-1.862%

0.404%

0.255%

-1.655%

0.984%

1.148%

1.263%

1.270%

0.325%

-0.023%

-0.039%

-0.595%

1.048%

-0.810%

-0.715%

-0.190%

0.577%

-0.366%

0.245%

0.807%

-0.913%

0.416%

-1.438%

-0.239%

0.589%

-0.609%

0.581%

0.379%

-0.187%

0.116%

-0.718%

0.093%

-2.131%

1.085%

-0.145%

-0.842%

0.917%

-0.408%

0.565%

-1.423%

0.370%

0.341%

0.101%

0.046%

-0.134%

-0.139%

-0.700%

-1.528%

0.725%

0.610%

0.474%

-0.867%

-1.347%

-1.215%

-1.099%

1.287%

-0.725%

-0.690%

-0.981%

-0.845%

1.551%

1.072%

-1.850%

0.930%

-0.162%

-1.645%

0.828%

0.252%

0.532%

0.138%

0.185%

-0.821%

0.067%

1.930%

0.257%

1.396%

-0.075%

-0.992%

-0.613%

-0.051%

0.863%

-1.094%

0.268%

0.631%

0.177%

0.566%

-1.397%

-0.408%

-0.346%

1.267%

-1.122%

0.168%

7.20%

14.41%

1.43

17.26%

Infosys Tata Steel

0.00 0.00

0.00 0.01

0.00 0.00

0.01 0.00

0.00 0.02