The risk weights of the portfolio by Fama-French, CAPM
Evaluate the risk weights of the portfolio by Fama-French, CAPM, or Arbitrage Pricing
Theory (APT). You will assume that the current date is Jan 1st 2018, and that the stockprice data
and financial statements for your firm for the fiscal year 2017 have just been released. In other
words, you do not have access to any quarterly results for Fiscal year 2018 at this point. (We want
to avoid the Covid period for this analysis; hence sticking to the pre-covid data). You shall be
evaluating the performance of your portfolio returns to actual stock price movements in 2018. You
can rebalance your portfolio at most twice a month, but your rebalancing strategy has to follow a
specific rule.
To form your portfolio you may use as much historical data on stock prices you want. Ideally you
should have at least sixty data points (e.g., 5 years of historical information if you are using
monthly data). You may start by running a regression to find the individual CAPM beta, APT and
Fama French risk factor loadings for the portfolio and the stocks.
You must compare the performance of your portfolio for the year 2018 with that of a major index