1.

¿Cuál es la tasa de retorno esperada por un inversor sobre una acción que tiene una beta de 0,9
cuando el rendimiento del mercado es del 15%, y las Letras del Tesoro rinden un 7%?

14.20% 0.07+0.9*(0.15-0.07)

2. ¿Cuál es el rendimiento esperado de un ctivo riesgoso en general del sector de informática

(hardware) suponiendo una tasa libre de riesgo del 6% anual, una tasa de rendimiento del
portafolio de mercado del 10% y una beta del sector de 1.15?
10.60% 0.06+1.15*(0.1-0.06)
e tiene una beta de 0,9
den un 7%?

tor de informática
endimiento del
Halle la tasa de rendimiento mínimo esperado por el inversionista para invertir en WalMart

Fecha S&P 500 Rentabilidad

12/31/2011 1,258 rf
12/31/2012 1,426 0.13354531 1.63%
12/31/2013 1,848 0.295932679
12/31/2014 2,059 0.114177489
12/31/2015 2,044 -0.00728509
12/31/2016 2,239 0.095401174
12/31/2017 2,674 0.194283162
12/31/2018 2,507 -0.06245325
12/31/2019 3,231 0.288791384
12/31/2020 3,760 0.1637264
0.135124362
X Y
Rentabilidad
Fecha S&P WalMart S&P WalMart
1/2016 1,940.00 66
2/2016 1,932.00 66 -0.004124 0.00
3/2016 2,060.00 68 0.066253 0.03
4/2016 2,065.00 67 0.002427 -0.01
5/2016 2,097.00 71 0.015496 0.06
6/2016 2,099.00 73 0.000954 0.03
7/2016 2,174.00 73 0.035731 0.00
8/2016 2,171.00 71 -0.001380 -0.03
9/2016 2,168.00 72 -0.001382 0.01
10/2016 2,126.00 70 -0.019373 -0.03
11/2016 2,199.00 70 0.034337 0.00
12/2016 2,239.00 69 0.018190 -0.01
1/2017 2,279.00 67 0.017865 -0.03
2/2017 2,364.00 71 0.037297 0.06
3/2017 2,363.00 72 -0.000423 0.01
4/2017 2,384.00 75 0.008887 0.04
5/2017 2,412.00 79 0.011745 0.05
6/2017 2,423.00 76 0.004561 -0.04
7/2017 2,470.00 80 0.019397 0.05
8/2017 2,472.00 78 0.000810 -0.03
9/2017 2,519.00 78 0.019013 0.00
10/2017 2,575.00 85 0.022231 0.09
11/2017 2,648.00 97 0.028350 0.14
12/2017 2,674.00 99 0.009819 0.02
1/2018 2,824.00 107 0.056096 0.08
2/2018 2,714.00 90 -0.038952 -0.16
3/2018 2,641.00 89 -0.026898 -0.01
4/2018 2,648.00 88 0.002651 -0.01
5/2018 2,705.00 83 0.021526 -0.06
6/2018 2,718.00 86 0.004806 0.04
7/2018 2,816.00 89 0.036056 0.03
8/2018 2,902.00 96 0.030540 0.08
9/2018 2,914.00 96 0.004135 0.00
10/2018 2,712.00 100 -0.069321 0.04
11/2018 2,760.00 98 0.017699 -0.02
12/2018 2,507.00 93 -0.091667 -0.05
1/2019 2,704.00 96 0.078580 0.03
2/2019 2,784.00 99 0.029586 0.03
3/2019 2,834.00 98 0.017960 -0.01
4/2019 2,946.00 103 0.039520 0.05
5/2019 2,752.00 101 -0.065852 -0.02
6/2019 2,942.00 110 0.069041 0.09
7/2019 2,980.00 110 0.012916 0.00
8/2019 2,926.00 114 -0.018121 0.04
9/2019 2,977.00 119 0.017430 0.04
10/2019 3,038.00 117 0.020490 -0.02
11/2019 3,141.00 119 0.033904 0.02
12/2019 3,231.00 119 0.028653 0.00
1/2020 3,226.00 114 -0.001548 -0.04
2/2020 2,954.00 108 -0.084315 -0.05
3/2020 2,585.00 114 -0.124915 0.06
4/2020 2,912.00 122 0.126499 0.07
5/2020 3,044.00 124 0.045330 0.02
6/2020 3,100.00 120 0.018397 -0.03
7/2020 3,271.00 129 0.055161 0.07
8/2020 3,500.00 139 0.070009 0.08
9/2020 3,363.00 140 -0.039143 0.01
10/2020 3,270.00 139 -0.027654 -0.01
11/2020 3,622.00 153 0.107645 0.10
12/2020 3,756.00 144 0.036996 -0.06
vertir en WalMart

rm b CAPM
0.135124362 0.50165 7.59%

Conv= 0.000937856
Var= 0.00240967
b= 0.3892

0.501654146
X=rendimiento de mercado

Chart Title
0.20

0.15

0.10

f(x) = 0.501654146297117 x +0.05

0.00839559434927583

0.00
-0.150000 -0.100000 -0.050000 0.000000 0.050000 0.100000 0.150000
-0.05

-0.10

-0.15

-0.20
Y=rendimiento de empresa
 Halle:
a) La B para cada una de las empresas por tres métodos distintos
b) El costo de capital de cada una de las empresas

First Sola Caterpillar Tesla

Chipotle
Mexican Grill
FSLR CMG CAT TSLA S&P 500
Fecha Cierre Cierre Cierre Cierre Cierre
01.02.2020 45.77 773.58 124.24 44.53 2,954.22
01.03.2020 36.06 654.4 116.04 34.93 2,584.59
01.04.2020 44.01 878.55 116.38 52.13 2,912.43
01.05.2020 46.62 1,003.91 120.13 55.67 3,044.31
01.06.2020 49.5 1,052.36 126.5 71.99 3,100.29
01.07.2020 59.55 1,155.16 132.88 95.38 3,271.12
01.08.2020 76.59 1,310.28 142.31 166.11 3,500.31
01.09.2020 66.2 1,243.71 149.15 143 3,363.00
01.10.2020 87.04 1,201.48 157.05 129.35 3,269.96
01.11.2020 93.43 1,289.43 173.59 189.2 3,621.63
01.12.2020 98.92 1,386.71 182.02 235.22 3,756.07
01.01.2021 99.15 1,480.00 182.84 264.51 3,714.24
01.02.2021 81.02 1,442.00 215.88 225.17 3,811.15
01.03.2021 87.3 1,420.82 231.87 222.64 3,972.89
01.04.2021 76.53 1,492.03 228.11 236.48 4,181.17
01.05.2021 76.11 1,371.98 241.08 208.41 4,204.11
01.06.2021 90.51 1,550.34 217.63 226.57 4,297.50
01.07.2021 86.04 1,863.44 206.75 229.07 4,395.26
01.08.2021 94 1,903.33 210.87 245.24 4,522.68
01.09.2021 95.46 1,817.52 191.97 258.49 4,307.54
01.10.2021 119.59 1,779.03 204.01 371.33 4,605.38
01.11.2021 103.6 1,643.41 193.35 381.59 4,567.00
01.12.2021 87.16 1,748.25 206.74 352.26 4,766.18
01.01.2022 78.38 1,485.58 201.56 312.24 4,515.55
01.02.2022 75.29 1,523.35 187.58 290.14 4,373.79
01.03.2022 83.74 1,582.03 222.82 359.2 4,530.41
01.04.2022 73.03 1,455.61 210.54 290.25 4,131.93
01.05.2022 70.61 1,402.55 215.85 252.75 4,132.15
01.06.2022 68.13 1,307.26 178.76 224.47 3,785.38
01.07.2022 99.17 1,564.22 198.25 297.15 4,130.29
01.08.2022 127.55 1,596.80 184.71 275.61 3,955.00
01.09.2022 132.27 1,502.76 164.08 265.25 3,585.62
01.10.2022 145.57 1,498.33 216.46 227.54 3,871.98
01.11.2022 172.53 1,626.96 236.41 194.7 4,080.11
01.12.2022 149.79 1,387.49 239.56 123.18 3,839.50
01.01.2023 177.6 1,646.38 252.29 173.22 4,076.60
01.02.2023 169.14 1,491.08 239.55 205.71 3,970.15
01.03.2023 217.5 1,708.29 228.84 207.46 4,109.31
01.04.2023 182.58 2,067.62 218.8 164.31 4,169.48
01.05.2023 202.96 2,076.49 205.75 203.93 4,179.83
01.06.2023 190.09 2,139.00 246.05 261.77 4,450.38
01.07.2023 207.4 1,962.28 265.17 267.43 4,588.96
01.08.2023 189.12 1,926.64 281.13 258.08 4,507.66
01.09.2023 174.05 1,912.50 279.15 274.39 4,450.32
 %
rm= 11.03 Tasa de rendimeinto de los últimos tres años

rm= 15.94 Tasa de rendimiento del último año

rf= 4.334 10 años

S&P 500 FSLR CMG CAT TSLA
X Y1 Y2 Y3 Y4

-0.12511932084 -0.21214769 -0.15406293 -0.06600129 -0.215585 covarianza

0.126844102933 0.22046589 0.342527506 0.002930024 0.492413398 varianza
0.045281775013 0.059304703 0.142689659 0.032222031 0.067907155 Beta
0.018388403284 0.061776062 0.048261298 0.053025889 0.293156098
0.055101296975 0.203030303 0.097685203 0.050434783 0.324906237 Pendiente
0.070064687324 0.286146096 0.134284428 0.070966285 0.741560075
-0.0392279541 -0.1356574 -0.05080593 0.048064085 -0.13912468
-0.02766577461 0.314803625 -0.03395486 0.052966812 -0.09545455
0.107545658051 0.073414522 0.073201385 0.105316778 0.462698106
0.037121406659 0.058760569 0.075444189 0.048562705 0.243234672
-0.01113664016 0.002325111 0.06727434 0.004504999 0.124521724
0.026091474972 -0.18285426 -0.02567568 0.180704441 -0.14872784
f(x) = 1.392763129
0.042438634008 0.077511725 -0.01468793 0.074068927 -0.01123596
0.052425312556 -0.1233677 0.050118945 -0.01621598 0.062163133
0.005486502582 -0.00548804 -0.08046085 0.056858533 -0.11869926 -0.15 -0.1 -
0.022213976323 0.189199842 0.130001895 -0.09727062 0.087135934
0.022748109366 -0.04938681 0.2019557 -0.04999311 0.011034117
0.028990321392 0.092515109 0.021406646 0.019927449 0.070589776
-0.04756914042 0.015531915 -0.04508414 -0.08962868 0.054028707
0.069143873301 0.252776032 -0.02117721 0.062718133 0.436535262
-0.00833373142 -0.13370683 -0.07623255 -0.05225234 0.02763041
0.043612874973 -0.15868726 0.063794184 0.069252651 -0.0768626
-0.05258508911 -0.10073428 -0.15024739 -0.02505563 -0.11360927
-0.03139373941 -0.03942332 0.025424413 -0.069359 -0.07077889
0.035808760823 0.1122327 0.038520366 0.18786651 0.238023023
-0.08795671915 -0.12789587 -0.07990999 -0.05511175 -0.19195434
5.32439E-05 -0.03313707 -0.03645207 0.025220861 -0.12919897
-0.08391999322 -0.0351225 -0.06794054 -0.17183229 -0.11188922
f(x) = 1.013522177177
0.091116347632 0.455599589 0.196563805 0.109028866 0.323784916
-0.04244011922 0.286175255 0.020828272 -0.0682976 -0.07248864
-0.09339570164 0.037005096 -0.05889279 -0.11168859 -0.03758935 -0.15 -0.1 -0.0
0.079863454577 0.100551901 -0.00294791 0.31923452 -0.14216777
0.053752860294 0.185202995 0.085848912 0.092164834 -0.14432627
-0.0589714493 -0.13180316 -0.14718862 0.013324309 -0.36733436
 -0.15 -0.1 -0.0

0.0617528324 0.185659924 0.186588732 0.053139088 0.406234778

-0.02611244665 -0.04763514 -0.09432816 -0.05049744 0.187564946
0.035051572359 0.285916992 0.145672935 -0.04470883 0.008507122
0.014642360883 -0.16055172 0.210344848 -0.04387345 -0.2079919
0.002482323935 0.111622303 0.004289957 -0.05964351 0.241129572
0.064727512841 -0.06341151 0.030103685 0.195868773 0.283626735
0.03113891398 0.091062128 -0.08261805 0.077707783 0.021622035
-0.01771643248 -0.08813886 -0.01816255 0.060187804 -0.03496242
-0.01272056899 -0.07968486 -0.0073392 -0.00704301 0.063197458
 CAPM
FSLR CMG CAT TSLA FSLR
13.65994192

0.004250673 0.004113209 0.00309324 0.008062951

0.003051971
1.39276313 1.347722057 1.013522177 2.6418832

1.39276313 1.347722057 1.013522177 2.6418832

First Sola Chipotle

0.5 0.4
0.4
0.3
0.3

0.2 0.2
f(x) = 1.39276312960595 x + 0.0275474260762439 f(x) = 1.34772205709391 x + 0.0116501828896847
0.1 0.1
0
-0.15 -0.1 -0.05 0 0.05 0.1 0.15 0
-0.1 -0.15 -0.1 -0.05 0 0.05

-0.2 -0.1

-0.3 -0.2

Caterpillar Tesla
0.4 1

0.8
0.3
0.6
0.2
0.4
f(x) = 2.64188320015998 x + 0.0367766955514228
f(x) = 1.01352217717702 x + 0.0117142435652427
0.1 0.2

0
0 -0.15 -0.1 -0.05 0 0.0
0.15 -0.1 -0.05 0 0.05 0.1 0.15
-0.2
-0.1
-0.4

-0.2 -0.6
0.15 -0.1 -0.05 0 0.05 0.1 0.15
-0.2
-0.1
-0.4

-0.2 -0.6
 CAPM
CMG CAT TSLA
13.35834689 11.1205445 22.02404991

Chipotle
0.4

0.3

0.2
05709391 x + 0.0116501828896847
0.1

0
-0.05 0 0.05 0.1 0.15

-0.1

-0.2

Tesla
1

0.8

0.6

0.4
320015998 x + 0.0367766955514228
0.2

0
-0.05 0 0.05 0.1 0.15
-0.2

-0.4

-0.6
-0.2

-0.4

-0.6