.

JANFEBMARAPRMAYJUNJULAUGSEPOCTNOVDECAVG
Avg ex JAN

.

avg month-2.84%1.04%0.31%-0.05%0.35%2.44%0.72%0.22%2.18%0.89%0.03%2.08%0.61%1.32%

.

stdev8.95%6.03%3.79%3.68%3.64%3.93%3.83%2.96%3.65%4.61%5.83%4.8%1.41%36

.

#months363636363636363636363636364.21%

.

t-stat-1.911.040.5-0.090.583.721.130.443.581.160.032.62.6181%

.

win%44%56%61%61%58%78%61%58%81%67%53%61%72%-1.4%

.

min-43.2%-9.7%-12.1%-13.7%-9.9%-2.5%-14%-4.9%-4.6%-10.4%-25.3%-6.3%-2.32%

.



.

Avg Price Momentum (trailing 6mos-last month) Long/Short

.

yearJANFEBMARAPRMAYJUNJULAUGSEPOCTNOVDECAVG
Avg ex JAN

.

1972-4.3%0.4%2.7%0.4%2.2%0.2%0%-2.3%3.3%3.2%-6.4%7.3%0.56%1%

.

19733.1%1.2%3.8%7.2%7.3%5.1%-14%5.5%-3.1%6%1.6%8.6%2.69%2.65%

.

1974-10.6%1.8%-3.2%4.8%1.1%2.6%2%2.1%0.6%0.9%1.5%4.7%0.69%1.72%

.

1975-24%0.5%-2.8%3.6%1.6%-1.2%-3%0.1%0%0.9%-0.4%-3.1%-2.32%-0.35%

.

1976-7.2%-7.6%1.1%-2.3%-2.7%1.3%-1.5%-2.1%1.2%0.5%0%-3.3%-1.88%-1.4%

.

19772.3%-0.6%-0.8%3.6%1.6%2%-0.9%0.1%2.4%0.1%1.8%0%0.97%0.85%

.

1978-1.1%2.9%2.8%-1.3%5.6%0.4%4.6%4.7%-3.6%-10.4%4.2%2.7%0.96%1.15%

.

1979-4.6%2.2%-1.6%1.4%0.4%1.5%-0.9%0.3%1.8%0.7%7.3%3.7%1.02%1.53%

.

19805.4%4.9%-5.6%-2%-3.1%1.2%-1.3%-2.8%1.1%5.4%7.3%-6.3%0.35%-0.11%

.

1981-6.9%-1.8%-2.4%0.3%3.9%0%-5%-0.2%3.5%4.4%1.5%0.8%-0.16%0.45%

.

19820.2%2.9%2.2%2.2%2.5%6.5%4.1%-3.5%4.2%3.9%5.8%-1.9%2.43%2.63%

.

1983-2.4%3.7%1.8%0.3%-0.3%1.9%-0.9%-3.9%-0.4%-2.9%-2.4%1.3%-0.35%-0.16%

.

1984-0.9%-0.8%1.9%0.7%-3.2%-1.6%0.9%-4.9%1%4.6%2.5%3.5%0.31%0.42%

.

1985-5.6%0.7%0.4%2.5%3.6%2%-4.2%3.8%3.5%3.1%1.8%0.6%1.02%1.62%

.

19863.5%3.7%2.1%0.3%1%4%2.1%-3.2%-4.6%2.4%-1.5%-0.9%0.74%0.49%

.

19873.3%-1.9%1.9%2.4%0.6%-1.7%4.5%-2.3%3.4%-3.8%2.9%2.2%0.96%0.75%

.

1988-2.9%-4.9%-1.1%1.2%-1.3%1.8%0.7%-1.7%0.2%1%0.9%-0.8%-0.58%-0.36%

.

19891.3%0.1%2.3%1.3%0.8%-1.7%5.1%0.2%2.6%3%2.9%2.1%1.67%1.7%

.

19901.2%1.5%-0.9%2%5.8%0.4%2%-1.7%3.6%8.6%-3.6%-0.4%1.54%1.57%

.

1991-10.7%-9.7%0.7%-0.4%5.1%-2.5%3.9%1.7%1.9%1.5%-0.8%6.4%-0.24%0.71%

.

1992-7.9%-1.1%0%-2.5%-1.8%1%-1.4%0.1%3%-2.1%-3.6%1.4%-1.24%-0.64%

.

19931.1%-3.4%1.3%-2.1%-0.2%3.6%3%2.3%1.8%-2.9%-3.1%2.4%0.32%0.25%

.

19940.1%0.6%-2.9%1.3%-2.1%-0.5%0.6%-1.9%0.2%1.3%-0.3%4.4%0.07%0.06%

.

1995-1.2%-1.2%1.9%1.1%-0.1%3%3%0.8%2.1%2%0.9%2.4%1.23%1.45%

.

1996-1.5%-1.7%-2.3%-2.6%0.5%1.3%-2.1%0.7%1.1%3.2%-1.6%3.8%-0.1%0.03%

.

1997-1.9%-0.7%2%4.6%-6.2%3.1%2.5%-2.8%-0.5%-0.5%-0.8%4.8%0.3%0.5%

.

1998-1.8%-1.5%2.7%-3.5%3.1%10%0.9%2.3%1.4%-5.5%-1.4%8.7%1.28%1.56%

.

1999-4.4%-0.3%0.3%-4.4%-3.8%5.6%1.1%4.7%3.5%5.2%6.3%13.6%2.28%2.89%

.

20002.4%28.6%-12.1%-13.7%-9.9%16.8%0.4%5.7%13.9%9.3%9.5%12.2%5.26%5.52%

.

2001-43.2%13.4%14.1%-7.8%0.8%3.1%7.1%6.6%8.7%-9.2%-9.9%-4.3%-1.72%2.05%

.

20024.9%2%-2.3%1.6%5.7%12.4%4.4%-0.3%11.1%-7.5%-25.3%10%1.39%1.07%

.

20033.1%3.3%0.1%-1.8%-5.3%-1.1%1.4%0.8%0.7%6.6%1.4%-5.1%0.34%0.09%

.

20041.8%1.1%0.1%-1.4%1.5%2.6%4.6%0.7%2%-0.5%-2.3%-5.9%0.36%0.23%

.

20052.08%2.74%-0.9%-1.54%-1.8%0.88%-2.61%2.25%4.41%-3.36%0.95%-0.41%0.22%0.05%

.

20065.18%-2.18%1.56%1.14%-2.61%1.55%-0.83%-4.13%-3.29%-2.69%-1.49%-0.42%-0.68%-1.22%

.

2007-0.21%-1.4%2.45%1.44%2.41%2.21%5.68%0.16%5.65%5.52%4.96%-0.04%2.4%2.64%

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.

.