FIGURE 12.11 Monthly rates
of return for (a) Marathon Oil,
(b) Intel, and (c) Walmart, plus the
market portfolio.
(a)
40%
30%
Marathon Oil retum (%)
20%
10%
0%
-10%
-5%
• 5%
10%
10%
*-20%
• Beta = 2.35
Std dev = 48.4%
-30%
Market return (%)
(b)
30%
25%
20%
Intel return (%)
15%
10%
*5%
-10%
59
0%
5%
10%
5%
-10%
Beta = .91
-15%
Std dev = 21.9%
-20%
Market return (%)
FIGURE 12.11 (continued)
(c)
30%
25%
20%
Walmart return (%)
15%
10%
%
10%
-5%
0%
-5%+
5%
10%
10%
-15%
Beta = .35
Std dev = 17.5%
-20%
Market return (%)
