APPENDICES
Appendix A: Descriptive statistics correlation matrices
Appendix B: Descriptive statistics for standard deviation per calendar year
Appendix C: Descriptive statistics for standard deviation per calendar year, no transaction costs
Appendix D: Paired samples T-tests for standard deviation and return-per-unit-of-risk,
no transaction costs
Appendix E: Descriptive statistics for standard deviation per calendar year and
outcome paired samples T tests for standard deviation and return-per-unit-of-risk for
the MSCI TR equity index for the USA
Descriptive statistics standard deviation per calendar year