options pagesize=60 linesize=74 nodate; data hotshot; input obs year mon r rkfree market; x = market - rkfree; y = r - rkfree; cards; 1 1978 1 -0.009 0.00487 -0.045 2 1978 2 -0.022 0.00494 0.010 3 1978 3 0.138 0.00526 0.050 4 1978 4 0.254 0.00491 0.063 5 1978 5 0.127 0.00513 0.067 6 1978 6 0.052 0.00527 0.007 7 1978 7 0.218 0.00528 0.071 8 1978 8 0.101 0.00607 0.079 9 1978 9 0.044 0.00645 0.002 10 1978 10 -0.010 0.00685 -0.189 11 1978 11 0.119 0.00719 0.084 12 1978 12 0.109 0.00690 0.015 13 1979 1 0.067 0.00761 0.058 14 1979 2 0.060 0.00761 0.011 15 1979 3 0.246 0.00769 0.123 16 1979 4 0.084 0.00764 0.026 17 1979 5 0.030 0.00772 0.014 18 1979 6 0.094 0.00715 0.075 19 1979 7 0.016 0.00728 -0.013 20 1979 8 0.153 0.00789 0.095 21 1979 9 0.044 0.00802 0.039 22 1979 10 -0.171 0.00913 -0.097 23 1979 11 0.137 0.00819 0.116 24 1979 12 0.096 0.00747 0.086 25 1980 1 0.232 0.00883 0.124 26 1980 2 0.118 0.01073 0.112 27 1980 3 -0.019 0.01181 -0.243 28 1980 4 0.102 0.00753 0.080 29 1980 5 0.032 0.00630 0.062 30 1980 6 0.183 0.00503 0.086 31 1980 7 0.287 0.00602 0.065 32 1980 8 0.133 0.00731 0.025 33 1980 9 -0.061 0.00860 0.015 34 1980 10 0.082 0.00895 0.006 35 1980 11 0.075 0.01137 0.092 36 1980 12 -0.023 0.00977 -0.056 37 1981 1 -0.156 0.01092 -0.014 38 1981 2 0.003 0.01096 -0.009 39 1981 3 0.259 0.01025 0.067 40 1981 4 0.163 0.01084 -0.008 41 1981 5 0.187 0.01255 0.064 42 1981 6 -0.103 0.01128 -0.003 43 1981 7 0.082 0.01154 -0.033 44 1981 8 -0.116 0.01169 -0.031 45 1981 9 0.164 0.01054 -0.164 46 1981 10 0.169 0.01003 0.062 47 1981 11 0.168 0.00816 0.069 48 1981 12 -0.008 0.00740 -0.039 49 1982 1 0.073 0.00949 -0.079 50 1982 2 -0.077 0.00946 -0.101 51 1982 3 -0.227 0.01067 -0.028 52 1982 4 0.122 0.00972 0.041 53 1982 5 -0.105 0.00908 0.003 54 1982 6 0.015 0.00914 -0.078 55 1982 7 0.021 0.00714 -0.006 56 1982 8 0.291 0.00503 0.122 57 1982 9 -0.090 .00563 0.008 58 1982 10 0.603 .00620 0.136 59 1982 11 0.078 .00614 0.049 60 1982 12 0.128 .00648 0.014 61 1983 1 0.283 .00646 0.065 62 1983 2 0.312 .00599 0.028 63 1983 3 0.115 .00686 0.043 64 1983 4 0.154 .00652 0.097 65 1983 5 -0.039 .00649 0.080 66 1983 6 0.033 .00673 0.048 67 1983 7 0.248 .00714 -0.017 68 1983 8 0.128 .00668 -0.034 69 1983 9 0.165 .00702 0.000 70 1983 10 0.006 .00678 -0.082 71 1983 11 0.061 .00683 0.066 72 1983 12 0.143 .00693 -0.012 73 1984 1 0.192 .00712 -0.029 74 1984 2 0.102 .00672 -0.030 75 1984 3 0.131 .00763 0.003 76 1984 4 0.164 .00741 -0.003 77 1984 5 -0.019 .00627 -0.058 78 1984 6 0.131 .00748 0.005 79 1984 7 0.014 .00771 -0.058 80 1984 8 0.387 .00852 0.146 81 1984 9 -0.057 .00830 0.000 82 1984 10 0.122 .00688 -0.035 83 1984 11 0.094 .00602 -0.019 84 1984 12 0.171 .00612 -0.001 85 1985 1 0.290 .00606 0.097 86 1985 2 -0.135 .00586 0.012 87 1985 3 -0.120 .00650 0.008 88 1985 4 -0.082 .00601 -0.010 89 1985 5 -0.003 .00512 0.019 90 1985 6 0.135 .00536 -0.003 91 1985 7 0.118 .00562 0.012 92 1985 8 0.069 .00545 0.005 93 1985 9 0.075 .00571 -0.055 94 1985 10 0.107 .00577 0.026 95 1985 11 0.184 .00540 0.059 96 1985 12 0.098 .00479 0.013 97 1986 1 0.020 .00548 -0.009 98 1986 2 0.031 .00523 0.049 99 1986 3 0.032 .00508 0.048 100 1986 4 0.136 .00444 -0.009 101 1986 5 0.060 .00469 0.049 102 1986 6 -0.080 .00478 0.004 103 1986 7 0.003 .00458 -0.076 104 1986 8 0.242 .00343 0.049 105 1986 9 -0.165 .00416 -0.047 106 1986 10 0.180 .00418 0.018 107 1986 11 0.095 .00420 0.000 108 1986 12 -0.003 .00382 -0.005 109 1987 1 0.210 .00454 0.148 110 1987 2 0.120 .00437 0.065 111 1987 3 -0.021 .00423 0.037 112 1987 4 0.055 .00207 -0.025 113 1987 5 0.236 .00438 0.004 114 1987 6 -0.070 .00402 0.038 115 1987 7 0.132 .00455 0.055 116 1987 8 0.067 .00460 0.015 117 1987 9 0.090 .00520 -0.015 118 1987 10 -0.267 .00358 -0.260 119 1987 11 0.000 .00288 -0.070 120 1987 12 0.256 .00277 0.073 ; proc reg data=hotshot; model y = x / covb; run;