id	sid	tid	token	lemma	pos
faba-284	1	1	250	250	NUM
faba-284	1	2	finance	finance	NOUN
faba-284	1	3	,	,	PUNCT
faba-284	1	4	accounting	accounting	NOUN
faba-284	1	5	and	and	CCONJ
faba-284	1	6	business	business	NOUN
faba-284	1	7	analysis	analysis	NOUN
faba-284	1	8	volume	volume	NOUN
faba-284	1	9	7	7	NUM
faba-284	1	10	issue	issue	NOUN
faba-284	1	11	2	2	NUM
faba-284	1	12	,	,	PUNCT
faba-284	1	13	2025	2025	NUM
faba-284	1	14	http://faba.bg/	http://faba.bg/	NOUN
faba-284	1	15	issn	issn	VERB
faba-284	1	16	2603	2603	NUM
faba-284	1	17	-	-	SYM
faba-284	1	18	5324	5324	NUM
faba-284	1	19	doi	doi	NOUN
faba-284	1	20	:	:	PUNCT
faba-284	1	21	https://doi.org/10.37075/faba.2025.2.10	https://doi.org/10.37075/faba.2025.2.10	NOUN
faba-284	1	22	bitcoin	bitcoin	NOUN
faba-284	1	23	cyclicality	cyclicality	NOUN
faba-284	1	24	and	and	CCONJ
faba-284	1	25	investment	investment	NOUN
faba-284	1	26	strategy	strategy	NOUN
faba-284	1	27	alejandro	alejandro	PROPN
faba-284	1	28	rabinovich	rabinovich	PROPN
faba-284	1	29	*	*	PROPN
faba-284	1	30	department	department	PROPN
faba-284	1	31	of	of	ADP
faba-284	1	32	finance	finance	NOUN
faba-284	1	33	,	,	PUNCT
faba-284	1	34	universidad	universidad	PROPN
faba-284	1	35	del	del	PROPN
faba-284	1	36	cema	cema	PROPN
faba-284	1	37	,	,	PUNCT
faba-284	1	38	buenos	buenos	PROPN
faba-284	1	39	aires	aires	PROPN
faba-284	1	40	,	,	PUNCT
faba-284	1	41	argentina	argentina	PROPN
faba-284	1	42	info	info	NOUN
faba-284	1	43	articles	article	NOUN
faba-284	1	44	abstract	abstract	ADJ
faba-284	1	45	history	history	NOUN
faba-284	1	46	article	article	NOUN
faba-284	1	47	:	:	PUNCT
faba-284	1	48	submitted	submit	VERB
faba-284	1	49	20	20	NUM
faba-284	1	50	july	july	PROPN
faba-284	1	51	2025	2025	NUM
faba-284	1	52	.	.	PUNCT
faba-284	2	1	revised	revise	VERB
faba-284	2	2	20	20	NUM
faba-284	2	3	november	november	PROPN
faba-284	2	4	2025	2025	NUM
faba-284	2	5	accepted	accept	VERB
faba-284	2	6	5	5	NUM
faba-284	2	7	december	december	PROPN
faba-284	2	8	2025	2025	NUM
faba-284	2	9	purpose	purpose	NOUN
faba-284	2	10	:	:	PUNCT
faba-284	2	11	to	to	PART
faba-284	2	12	investigate	investigate	VERB
faba-284	2	13	bitcoin	bitcoin	PROPN
faba-284	2	14	’s	’s	PART
faba-284	2	15	cyclic	cyclic	ADJ
faba-284	2	16	price	price	NOUN
faba-284	2	17	behavior	behavior	NOUN
faba-284	2	18	around	around	ADP
faba-284	2	19	scheduled	scheduled	ADJ
faba-284	2	20	halving	halving	NOUN
faba-284	2	21	events	event	NOUN
faba-284	2	22	,	,	PUNCT
faba-284	2	23	develop	develop	VERB
faba-284	2	24	a	a	DET
faba-284	2	25	technical	technical	ADJ
faba-284	2	26	-	-	PUNCT
faba-284	2	27	analysis	analysis	NOUN
faba-284	2	28	-	-	PUNCT
faba-284	2	29	based	base	VERB
faba-284	2	30	active	active	ADJ
faba-284	2	31	investment	investment	NOUN
faba-284	2	32	strategy	strategy	NOUN
faba-284	2	33	tailored	tailor	VERB
faba-284	2	34	to	to	ADP
faba-284	2	35	these	these	DET
faba-284	2	36	cycles	cycle	NOUN
faba-284	2	37	,	,	PUNCT
faba-284	2	38	and	and	CCONJ
faba-284	2	39	rigorously	rigorously	ADV
faba-284	2	40	assess	assess	VERB
faba-284	2	41	its	its	PRON
faba-284	2	42	performance	performance	NOUN
faba-284	2	43	relative	relative	ADJ
faba-284	2	44	to	to	ADP
faba-284	2	45	a	a	DET
faba-284	2	46	passive	passive	ADJ
faba-284	2	47	buy	buy	NOUN
faba-284	2	48	-	-	PUNCT
faba-284	2	49	and	and	CCONJ
faba-284	2	50	-	-	PUNCT
faba-284	2	51	hold	hold	VERB
faba-284	2	52	benchmark	benchmark	NOUN
faba-284	2	53	.	.	PUNCT
faba-284	3	1	design	design	NOUN
faba-284	3	2	/	/	SYM
faba-284	3	3	methodology	methodology	NOUN
faba-284	3	4	/	/	SYM
faba-284	3	5	approach	approach	NOUN
faba-284	3	6	:	:	PUNCT
faba-284	3	7	this	this	DET
faba-284	3	8	research	research	NOUN
faba-284	3	9	employs	employ	VERB
faba-284	3	10	historical	historical	ADJ
faba-284	3	11	daily	daily	ADJ
faba-284	3	12	btc	btc	PROPN
faba-284	3	13	 	 	SPACE
faba-284	3	14	/usd	/usd	NOUN
faba-284	3	15	price	price	NOUN
faba-284	3	16	series	series	NOUN
faba-284	3	17	(	(	PUNCT
faba-284	3	18	june	june	PROPN
faba-284	3	19	 	 	SPACE
faba-284	3	20	2012	2012	NUM
faba-284	3	21	–	–	PUNCT
faba-284	3	22	may	may	AUX
faba-284	3	23	 	 	SPACE
faba-284	3	24	2025	2025	NUM
faba-284	3	25	)	)	PUNCT
faba-284	3	26	,	,	PUNCT
faba-284	3	27	applies	apply	VERB
faba-284	3	28	a	a	DET
faba-284	3	29	suite	suite	NOUN
faba-284	3	30	of	of	ADP
faba-284	3	31	technical	technical	ADJ
faba-284	3	32	indicators	indicator	NOUN
faba-284	3	33	to	to	PART
faba-284	3	34	define	define	VERB
faba-284	3	35	systematic	systematic	ADJ
faba-284	3	36	,	,	PUNCT
faba-284	3	37	halving	halve	VERB
faba-284	3	38	-	-	PUNCT
faba-284	3	39	anchored	anchor	VERB
faba-284	3	40	entry	entry	NOUN
faba-284	3	41	and	and	CCONJ
faba-284	3	42	exit	exit	NOUN
faba-284	3	43	rules	rule	NOUN
faba-284	3	44	,	,	PUNCT
faba-284	3	45	and	and	CCONJ
faba-284	3	46	then	then	ADV
faba-284	3	47	conducts	conduct	VERB
faba-284	3	48	rigorous	rigorous	ADJ
faba-284	3	49	statistical	statistical	ADJ
faba-284	3	50	evaluations	evaluation	NOUN
faba-284	3	51	to	to	PART
faba-284	3	52	test	test	VERB
faba-284	3	53	whether	whether	SCONJ
faba-284	3	54	bitcoin	bitcoin	PROPN
faba-284	3	55	’s	’s	PART
faba-284	3	56	protocol	protocol	NOUN
faba-284	3	57	-	-	PUNCT
faba-284	3	58	driven	drive	VERB
faba-284	3	59	supply	supply	NOUN
faba-284	3	60	cycles	cycle	NOUN
faba-284	3	61	yield	yield	VERB
faba-284	3	62	reproducible	reproducible	ADJ
faba-284	3	63	,	,	PUNCT
faba-284	3	64	actionable	actionable	ADJ
faba-284	3	65	investment	investment	NOUN
faba-284	3	66	signals	signal	NOUN
faba-284	3	67	.	.	PUNCT
faba-284	4	1	findings	finding	NOUN
faba-284	4	2	:	:	PUNCT
faba-284	4	3	over	over	ADP
faba-284	4	4	thirteen	thirteen	NUM
faba-284	4	5	overlapping	overlap	VERB
faba-284	4	6	sample	sample	NOUN
faba-284	4	7	windows	window	NOUN
faba-284	4	8	,	,	PUNCT
faba-284	4	9	the	the	DET
faba-284	4	10	active	active	ADJ
faba-284	4	11	strategy	strategy	NOUN
faba-284	4	12	outperforms	outperform	VERB
faba-284	4	13	passive	passive	ADJ
faba-284	4	14	btc	btc	NOUN
faba-284	4	15	holding	holding	NOUN
faba-284	4	16	in	in	ADP
faba-284	4	17	ten	ten	NUM
faba-284	4	18	,	,	PUNCT
faba-284	4	19	with	with	ADP
faba-284	4	20	positive	positive	ADJ
faba-284	4	21	“	"	PUNCT
faba-284	4	22	alpha	alpha	NOUN
faba-284	4	23	”	"	PUNCT
faba-284	4	24	coefficients	coefficient	NOUN
faba-284	4	25	that	that	PRON
faba-284	4	26	are	be	AUX
faba-284	4	27	statistically	statistically	ADV
faba-284	4	28	significant	significant	ADJ
faba-284	4	29	at	at	ADP
faba-284	4	30	the	the	DET
faba-284	4	31	conventional	conventional	ADJ
faba-284	4	32	5	5	NUM
faba-284	4	33	%	%	NOUN
faba-284	4	34	level	level	NOUN
faba-284	4	35	in	in	ADP
faba-284	4	36	each	each	PRON
faba-284	4	37	of	of	ADP
faba-284	4	38	those	those	DET
faba-284	4	39	windows	window	NOUN
faba-284	4	40	(	(	PUNCT
faba-284	4	41	and	and	CCONJ
faba-284	4	42	,	,	PUNCT
faba-284	4	43	in	in	ADP
faba-284	4	44	most	most	ADJ
faba-284	4	45	cases	case	NOUN
faba-284	4	46	,	,	PUNCT
faba-284	4	47	with	with	ADP
faba-284	4	48	p	p	NOUN
faba-284	4	49	-	-	PUNCT
faba-284	4	50	values	value	NOUN
faba-284	4	51	below	below	ADP
faba-284	4	52	2.5	2.5	NUM
faba-284	4	53	%	%	NOUN
faba-284	4	54	)	)	PUNCT
faba-284	4	55	.	.	PUNCT
faba-284	5	1	it	it	PRON
faba-284	5	2	captures	capture	VERB
faba-284	5	3	outsized	outsized	ADJ
faba-284	5	4	gains	gain	NOUN
faba-284	5	5	in	in	ADP
faba-284	5	6	post	post	ADJ
faba-284	5	7	-	-	ADJ
faba-284	5	8	halving	halve	VERB
faba-284	5	9	bull	bull	NOUN
faba-284	5	10	runs	run	NOUN
faba-284	5	11	(	(	PUNCT
faba-284	5	12	e.g.	e.g.	ADV
faba-284	5	13	2013	2013	NUM
faba-284	5	14	,	,	PUNCT
faba-284	5	15	2017	2017	NUM
faba-284	5	16	,	,	PUNCT
faba-284	5	17	2021	2021	NUM
faba-284	5	18	)	)	PUNCT
faba-284	5	19	and	and	CCONJ
faba-284	5	20	meaningfully	meaningfully	ADV
faba-284	5	21	limits	limit	VERB
faba-284	5	22	drawdowns	drawdown	NOUN
faba-284	5	23	in	in	ADP
faba-284	5	24	bear	bear	NOUN
faba-284	5	25	phases	phase	NOUN
faba-284	5	26	(	(	PUNCT
faba-284	5	27	e.g.	e.g.	ADV
faba-284	5	28	2014	2014	NUM
faba-284	5	29	,	,	PUNCT
faba-284	5	30	2018	2018	NUM
faba-284	5	31	,	,	PUNCT
faba-284	5	32	2022	2022	NUM
faba-284	5	33	)	)	PUNCT
faba-284	5	34	.	.	PUNCT
faba-284	6	1	equity	equity	NOUN
faba-284	6	2	curve	curve	NOUN
faba-284	6	3	simulations	simulation	NOUN
faba-284	6	4	demonstrate	demonstrate	VERB
faba-284	6	5	compounded	compound	VERB
faba-284	6	6	account	account	NOUN
faba-284	6	7	growth	growth	NOUN
faba-284	6	8	that	that	PRON
faba-284	6	9	markedly	markedly	ADV
faba-284	6	10	surpasses	surpass	VERB
faba-284	6	11	passive	passive	ADJ
faba-284	6	12	returns	return	NOUN
faba-284	6	13	.	.	PUNCT
faba-284	7	1	practical	practical	ADJ
faba-284	7	2	implications	implication	NOUN
faba-284	7	3	:	:	PUNCT
faba-284	7	4	crypto	crypto	NOUN
faba-284	7	5	asset	asset	NOUN
faba-284	7	6	managers	manager	NOUN
faba-284	7	7	and	and	CCONJ
faba-284	7	8	individual	individual	ADJ
faba-284	7	9	investors	investor	NOUN
faba-284	7	10	can	can	AUX
faba-284	7	11	implement	implement	VERB
faba-284	7	12	the	the	DET
faba-284	7	13	halving	halve	VERB
faba-284	7	14	-	-	PUNCT
faba-284	7	15	centric	centric	ADJ
faba-284	7	16	strategy	strategy	NOUN
faba-284	7	17	using	use	VERB
faba-284	7	18	readily	readily	ADV
faba-284	7	19	available	available	ADJ
faba-284	7	20	charting	charting	NOUN
faba-284	7	21	tools	tool	NOUN
faba-284	7	22	and	and	CCONJ
faba-284	7	23	api	api	NOUN
faba-284	7	24	-	-	PUNCT
faba-284	7	25	accessible	accessible	ADJ
faba-284	7	26	price	price	NOUN
faba-284	7	27	feeds	feed	VERB
faba-284	7	28	to	to	PART
faba-284	7	29	automate	automate	VERB
faba-284	7	30	buy	buy	NOUN
faba-284	7	31	/	/	SYM
faba-284	7	32	sell	sell	NOUN
faba-284	7	33	signals	signal	NOUN
faba-284	7	34	,	,	PUNCT
faba-284	7	35	thereby	thereby	ADV
faba-284	7	36	enhancing	enhance	VERB
faba-284	7	37	return	return	NOUN
faba-284	7	38	potential	potential	ADJ
faba-284	7	39	and	and	CCONJ
faba-284	7	40	mitigating	mitigate	VERB
faba-284	7	41	drawdowns	drawdown	NOUN
faba-284	7	42	without	without	ADP
faba-284	7	43	requiring	require	VERB
faba-284	7	44	deep	deep	ADJ
faba-284	7	45	on	on	ADP
faba-284	7	46	-	-	PUNCT
faba-284	7	47	chain	chain	NOUN
faba-284	7	48	analytics	analytic	NOUN
faba-284	7	49	expertise	expertise	NOUN
faba-284	7	50	.	.	PUNCT
faba-284	8	1	this	this	DET
faba-284	8	2	framework	framework	NOUN
faba-284	8	3	also	also	ADV
faba-284	8	4	provides	provide	VERB
faba-284	8	5	a	a	DET
faba-284	8	6	transparent	transparent	ADJ
faba-284	8	7	risk	risk	NOUN
faba-284	8	8	-	-	PUNCT
faba-284	8	9	management	management	NOUN
faba-284	8	10	overlay	overlay	NOUN
faba-284	8	11	—	—	PUNCT
faba-284	8	12	leveraging	leverage	VERB
faba-284	8	13	predefined	predefine	VERB
faba-284	8	14	exit	exit	NOUN
faba-284	8	15	rules	rule	NOUN
faba-284	8	16	—	—	PUNCT
faba-284	8	17	that	that	PRON
faba-284	8	18	can	can	AUX
faba-284	8	19	be	be	AUX
faba-284	8	20	calibrated	calibrate	VERB
faba-284	8	21	to	to	ADP
faba-284	8	22	varying	vary	VERB
faba-284	8	23	risk	risk	NOUN
faba-284	8	24	tolerances	tolerance	NOUN
faba-284	8	25	and	and	CCONJ
faba-284	8	26	seamlessly	seamlessly	ADV
faba-284	8	27	integrated	integrate	VERB
faba-284	8	28	into	into	ADP
faba-284	8	29	broader	broad	ADJ
faba-284	8	30	multi	multi	ADJ
faba-284	8	31	-	-	ADJ
faba-284	8	32	asset	asset	ADJ
faba-284	8	33	portfolios	portfolio	NOUN
faba-284	8	34	.	.	PUNCT
faba-284	9	1	originality	originality	NOUN
faba-284	9	2	/	/	SYM
faba-284	9	3	value	value	NOUN
faba-284	9	4	:	:	PUNCT
faba-284	9	5	this	this	DET
faba-284	9	6	study	study	NOUN
faba-284	9	7	is	be	AUX
faba-284	9	8	among	among	ADP
faba-284	9	9	the	the	DET
faba-284	9	10	first	first	ADJ
faba-284	9	11	to	to	PART
faba-284	9	12	integrate	integrate	VERB
faba-284	9	13	bitcoin	bitcoin	PROPN
faba-284	9	14	’s	’s	PART
faba-284	9	15	protocol	protocol	NOUN
faba-284	9	16	-	-	PUNCT
faba-284	9	17	driven	drive	VERB
faba-284	9	18	halving	halving	NOUN
faba-284	9	19	schedule	schedule	NOUN
faba-284	9	20	with	with	ADP
faba-284	9	21	a	a	DET
faba-284	9	22	multi	multi	ADJ
faba-284	9	23	-	-	ADJ
faba-284	9	24	indicator	indicator	ADJ
faba-284	9	25	technical	technical	ADJ
faba-284	9	26	framework	framework	NOUN
faba-284	9	27	and	and	CCONJ
faba-284	9	28	to	to	PART
faba-284	9	29	validate	validate	VERB
faba-284	9	30	its	its	PRON
faba-284	9	31	efficacy	efficacy	NOUN
faba-284	9	32	through	through	ADP
faba-284	9	33	extensive	extensive	ADJ
faba-284	9	34	statistical	statistical	ADJ
faba-284	9	35	tests	test	NOUN
faba-284	9	36	over	over	ADP
faba-284	9	37	four	four	NUM
faba-284	9	38	market	market	NOUN
faba-284	9	39	cycles	cycle	NOUN
faba-284	9	40	(	(	PUNCT
faba-284	9	41	including	include	VERB
faba-284	9	42	the	the	DET
faba-284	9	43	2024	2024	NUM
faba-284	9	44	halving	halving	NOUN
faba-284	9	45	)	)	PUNCT
faba-284	9	46	.	.	PUNCT
faba-284	10	1	it	it	PRON
faba-284	10	2	offers	offer	VERB
faba-284	10	3	practitioners	practitioner	NOUN
faba-284	10	4	a	a	DET
faba-284	10	5	replicable	replicable	ADJ
faba-284	10	6	,	,	PUNCT
faba-284	10	7	data	data	NOUN
faba-284	10	8	-	-	PUNCT
faba-284	10	9	driven	drive	VERB
faba-284	10	10	strategy	strategy	NOUN
faba-284	10	11	for	for	ADP
faba-284	10	12	navigating	navigate	VERB
faba-284	10	13	crypto	crypto	NOUN
faba-284	10	14	’s	’s	PART
faba-284	10	15	unique	unique	ADJ
faba-284	10	16	cyclical	cyclical	ADJ
faba-284	10	17	dynamics	dynamic	NOUN
faba-284	10	18	.	.	PUNCT
faba-284	11	1	paper	paper	NOUN
faba-284	11	2	type	type	NOUN
faba-284	11	3	:	:	PUNCT
faba-284	11	4	research	research	NOUN
faba-284	11	5	paper	paper	NOUN
faba-284	11	6	keywords	keyword	NOUN
faba-284	11	7	:	:	PUNCT
faba-284	11	8	statistical	statistical	ADJ
faba-284	11	9	methods	method	NOUN
faba-284	11	10	,	,	PUNCT
faba-284	11	11	hypothesis	hypothesis	NOUN
faba-284	11	12	testing	testing	NOUN
faba-284	11	13	,	,	PUNCT
faba-284	11	14	international	international	ADJ
faba-284	11	15	financial	financial	ADJ
faba-284	11	16	markets	market	NOUN
faba-284	11	17	,	,	PUNCT
faba-284	11	18	monetary	monetary	ADJ
faba-284	11	19	policy	policy	NOUN
faba-284	11	20	jel	jel	PROPN
faba-284	11	21	:	:	PUNCT
faba-284	11	22	c12	c12	PROPN
faba-284	11	23	,	,	PUNCT
faba-284	11	24	g15	g15	PROPN
faba-284	11	25	,	,	PUNCT
faba-284	11	26	e52	e52	PROPN
faba-284	11	27	address	address	NOUN
faba-284	11	28	correspondence	correspondence	NOUN
faba-284	11	29	:	:	PUNCT
faba-284	12	1	av	av	PROPN
faba-284	12	2	.	.	PUNCT
faba-284	13	1	córdoba	córdoba	PROPN
faba-284	13	2	374	374	NUM
faba-284	13	3	e	e	NOUN
faba-284	13	4	-	-	NOUN
faba-284	13	5	mail	mail	NOUN
faba-284	13	6	:	:	PUNCT
faba-284	13	7	arabinovi22@ucema.edu.ar	arabinovi22@ucema.edu.ar	PROPN
faba-284	13	8	http://faba.bg/	http://faba.bg/	NOUN
faba-284	13	9	https://doi.org/10.37075/faba.2025.2.10	https://doi.org/10.37075/faba.2025.2.10	NOUN
faba-284	13	10	https://orcid.org/0009-0006-8143-3167	https://orcid.org/0009-0006-8143-3167	ADP
faba-284	13	11	alejandro	alejandro	PROPN
faba-284	13	12	rabinovich	rabinovich	PROPN
faba-284	13	13	/	/	SYM
faba-284	13	14	finance	finance	NOUN
faba-284	13	15	,	,	PUNCT
faba-284	13	16	accounting	accounting	NOUN
faba-284	13	17	and	and	CCONJ
faba-284	13	18	business	business	NOUN
faba-284	13	19	analysis	analysis	NOUN
faba-284	13	20	,	,	PUNCT
faba-284	13	21	volume	volume	NOUN
faba-284	13	22	7	7	NUM
faba-284	13	23	,	,	PUNCT
faba-284	13	24	issue	issue	NOUN
faba-284	13	25	2	2	NUM
faba-284	13	26	,	,	PUNCT
faba-284	13	27	2025	2025	NUM
faba-284	13	28	251	251	NUM
faba-284	13	29	introduction	introduction	NOUN
faba-284	13	30	bitcoin	bitcoin	NOUN
faba-284	13	31	(	(	PUNCT
faba-284	13	32	btc	btc	PROPN
faba-284	13	33	)	)	PUNCT
faba-284	13	34	has	have	AUX
faba-284	13	35	become	become	VERB
faba-284	13	36	the	the	DET
faba-284	13	37	benchmark	benchmark	ADJ
faba-284	13	38	asset	asset	NOUN
faba-284	13	39	of	of	ADP
faba-284	13	40	the	the	DET
faba-284	13	41	cryptocurrency	cryptocurrency	NOUN
faba-284	13	42	market	market	NOUN
faba-284	13	43	and	and	CCONJ
faba-284	13	44	a	a	DET
faba-284	13	45	focal	focal	ADJ
faba-284	13	46	point	point	NOUN
faba-284	13	47	in	in	ADP
faba-284	13	48	discussions	discussion	NOUN
faba-284	13	49	about	about	ADP
faba-284	13	50	digital	digital	ADJ
faba-284	13	51	money	money	NOUN
faba-284	13	52	and	and	CCONJ
faba-284	13	53	alternative	alternative	ADJ
faba-284	13	54	investments	investment	NOUN
faba-284	13	55	.	.	PUNCT
faba-284	14	1	since	since	SCONJ
faba-284	14	2	its	its	PRON
faba-284	14	3	launch	launch	NOUN
faba-284	14	4	in	in	ADP
faba-284	14	5	2009	2009	NUM
faba-284	14	6	,	,	PUNCT
faba-284	14	7	btc	btc	PROPN
faba-284	14	8	has	have	AUX
faba-284	14	9	exhibited	exhibit	VERB
faba-284	14	10	pronounced	pronounce	VERB
faba-284	14	11	price	price	NOUN
faba-284	14	12	volatility	volatility	NOUN
faba-284	14	13	and	and	CCONJ
faba-284	14	14	large	large	ADJ
faba-284	14	15	boom	boom	NOUN
faba-284	14	16	–	–	PUNCT
faba-284	14	17	bust	bust	NOUN
faba-284	14	18	cycles	cycle	NOUN
faba-284	14	19	,	,	PUNCT
faba-284	14	20	which	which	PRON
faba-284	14	21	many	many	ADJ
faba-284	14	22	observers	observer	NOUN
faba-284	14	23	link	link	VERB
faba-284	14	24	to	to	ADP
faba-284	14	25	its	its	PRON
faba-284	14	26	fixed	fix	VERB
faba-284	14	27	supply	supply	NOUN
faba-284	14	28	schedule	schedule	NOUN
faba-284	14	29	and	and	CCONJ
faba-284	14	30	,	,	PUNCT
faba-284	14	31	in	in	ADP
faba-284	14	32	particular	particular	ADJ
faba-284	14	33	,	,	PUNCT
faba-284	14	34	to	to	ADP
faba-284	14	35	the	the	DET
faba-284	14	36	protocol	protocol	NOUN
faba-284	14	37	-	-	PUNCT
faba-284	14	38	defined	define	VERB
faba-284	14	39	“	"	PUNCT
faba-284	14	40	halving	halve	VERB
faba-284	14	41	”	"	PUNCT
faba-284	14	42	events	event	NOUN
faba-284	14	43	that	that	PRON
faba-284	14	44	reduce	reduce	VERB
faba-284	14	45	the	the	DET
faba-284	14	46	rate	rate	NOUN
faba-284	14	47	of	of	ADP
faba-284	14	48	new	new	ADJ
faba-284	14	49	coin	coin	NOUN
faba-284	14	50	issuance	issuance	NOUN
faba-284	14	51	approximately	approximately	ADV
faba-284	14	52	every	every	DET
faba-284	14	53	four	four	NUM
faba-284	14	54	years	year	NOUN
faba-284	14	55	.	.	PUNCT
faba-284	15	1	the	the	DET
faba-284	15	2	first	first	ADJ
faba-284	15	3	halving	halving	NOUN
faba-284	15	4	occurred	occur	VERB
faba-284	15	5	in	in	ADP
faba-284	15	6	november	november	PROPN
faba-284	15	7	2012	2012	NUM
faba-284	15	8	,	,	PUNCT
faba-284	15	9	followed	follow	VERB
faba-284	15	10	by	by	ADP
faba-284	15	11	july	july	PROPN
faba-284	15	12	2016	2016	NUM
faba-284	15	13	,	,	PUNCT
faba-284	15	14	may	may	AUX
faba-284	15	15	2020	2020	NUM
faba-284	15	16	,	,	PUNCT
faba-284	15	17	and	and	CCONJ
faba-284	15	18	april	april	PROPN
faba-284	15	19	2024	2024	NUM
faba-284	15	20	,	,	PUNCT
faba-284	15	21	and	and	CCONJ
faba-284	15	22	each	each	PRON
faba-284	15	23	has	have	AUX
faba-284	15	24	been	be	AUX
faba-284	15	25	associated	associate	VERB
faba-284	15	26	with	with	ADP
faba-284	15	27	distinct	distinct	ADJ
faba-284	15	28	phases	phase	NOUN
faba-284	15	29	of	of	ADP
faba-284	15	30	appreciation	appreciation	NOUN
faba-284	15	31	and	and	CCONJ
faba-284	15	32	subsequent	subsequent	ADJ
faba-284	15	33	correction	correction	NOUN
faba-284	15	34	in	in	ADP
faba-284	15	35	btc	btc	PROPN
faba-284	15	36	’s	’s	PART
faba-284	15	37	price	price	NOUN
faba-284	15	38	(	(	PUNCT
faba-284	15	39	freeman	freeman	NOUN
faba-284	15	40	2025	2025	NUM
faba-284	15	41	)	)	PUNCT
faba-284	15	42	.	.	PUNCT
faba-284	16	1	a	a	DET
faba-284	16	2	growing	grow	VERB
faba-284	16	3	academic	academic	ADJ
faba-284	16	4	literature	literature	NOUN
faba-284	16	5	suggests	suggest	VERB
faba-284	16	6	that	that	SCONJ
faba-284	16	7	bitcoin	bitcoin	PROPN
faba-284	16	8	’s	’s	PART
faba-284	16	9	return	return	NOUN
faba-284	16	10	dynamics	dynamic	NOUN
faba-284	16	11	are	be	AUX
faba-284	16	12	not	not	PART
faba-284	16	13	always	always	ADV
faba-284	16	14	consistent	consistent	ADJ
faba-284	16	15	with	with	ADP
faba-284	16	16	weak	weak	ADJ
faba-284	16	17	-	-	PUNCT
faba-284	16	18	form	form	NOUN
faba-284	16	19	market	market	NOUN
faba-284	16	20	efficiency	efficiency	NOUN
faba-284	16	21	.	.	PUNCT
faba-284	17	1	studies	study	NOUN
faba-284	17	2	document	document	NOUN
faba-284	17	3	return	return	NOUN
faba-284	17	4	predictability	predictability	NOUN
faba-284	17	5	and	and	CCONJ
faba-284	17	6	momentum	momentum	NOUN
faba-284	17	7	effects	effect	NOUN
faba-284	17	8	in	in	ADP
faba-284	17	9	cryptocurrency	cryptocurrency	NOUN
faba-284	17	10	markets	market	NOUN
faba-284	17	11	,	,	PUNCT
faba-284	17	12	indicating	indicate	VERB
faba-284	17	13	that	that	SCONJ
faba-284	17	14	past	past	ADJ
faba-284	17	15	price	price	NOUN
faba-284	17	16	behavior	behavior	NOUN
faba-284	17	17	can	can	AUX
faba-284	17	18	have	have	VERB
faba-284	17	19	explanatory	explanatory	ADJ
faba-284	17	20	power	power	NOUN
faba-284	17	21	for	for	ADP
faba-284	17	22	future	future	ADJ
faba-284	17	23	returns	return	NOUN
faba-284	17	24	(	(	PUNCT
faba-284	17	25	urquhart	urquhart	PROPN
faba-284	17	26	2016	2016	NUM
faba-284	17	27	;	;	PUNCT
faba-284	17	28	grobys	grobys	NOUN
faba-284	17	29	and	and	CCONJ
faba-284	17	30	sapkota	sapkota	NOUN
faba-284	17	31	2019	2019	NUM
faba-284	17	32	;	;	PUNCT
faba-284	17	33	jia	jia	PROPN
faba-284	17	34	et	et	PROPN
faba-284	17	35	al	al	PROPN
faba-284	17	36	.	.	PROPN
faba-284	17	37	2022	2022	NUM
faba-284	17	38	)	)	PUNCT
faba-284	17	39	.	.	PUNCT
faba-284	18	1	event	event	NOUN
faba-284	18	2	-	-	PUNCT
faba-284	18	3	study	study	NOUN
faba-284	18	4	and	and	CCONJ
faba-284	18	5	time	time	NOUN
faba-284	18	6	-	-	PUNCT
faba-284	18	7	series	series	NOUN
faba-284	18	8	analyses	analysis	NOUN
faba-284	18	9	further	far	ADV
faba-284	18	10	show	show	VERB
faba-284	18	11	that	that	SCONJ
faba-284	18	12	halving	halve	VERB
faba-284	18	13	events	event	NOUN
faba-284	18	14	tend	tend	VERB
faba-284	18	15	to	to	PART
faba-284	18	16	coincide	coincide	VERB
faba-284	18	17	with	with	ADP
faba-284	18	18	systematic	systematic	ADJ
faba-284	18	19	multi	multi	ADJ
faba-284	18	20	-	-	ADJ
faba-284	18	21	year	year	NOUN
faba-284	18	22	accumulation	accumulation	NOUN
faba-284	18	23	and	and	CCONJ
faba-284	18	24	distribution	distribution	NOUN
faba-284	18	25	phases	phase	NOUN
faba-284	18	26	,	,	PUNCT
faba-284	18	27	in	in	ADP
faba-284	18	28	which	which	PRON
faba-284	18	29	post	post	ADJ
faba-284	18	30	-	-	ADJ
faba-284	18	31	halving	halving	ADJ
faba-284	18	32	bull	bull	NOUN
faba-284	18	33	markets	market	NOUN
faba-284	18	34	and	and	CCONJ
faba-284	18	35	follow	follow	VERB
faba-284	18	36	-	-	PUNCT
faba-284	18	37	on	on	ADP
faba-284	18	38	bear	bear	NOUN
faba-284	18	39	markets	market	NOUN
faba-284	18	40	display	display	VERB
faba-284	18	41	relatively	relatively	ADV
faba-284	18	42	regular	regular	ADJ
faba-284	18	43	timing	timing	NOUN
faba-284	18	44	patterns	pattern	NOUN
faba-284	18	45	(	(	PUNCT
faba-284	18	46	fabus	fabus	PROPN
faba-284	18	47	et	et	PROPN
faba-284	18	48	al	al	PROPN
faba-284	18	49	.	.	PROPN
faba-284	18	50	2024	2024	NUM
faba-284	18	51	)	)	PUNCT
faba-284	18	52	.	.	PUNCT
faba-284	19	1	parallel	parallel	ADJ
faba-284	19	2	work	work	NOUN
faba-284	19	3	on	on	ADP
faba-284	19	4	technical	technical	ADJ
faba-284	19	5	trading	trading	NOUN
faba-284	19	6	rules	rule	NOUN
faba-284	19	7	finds	find	VERB
faba-284	19	8	that	that	SCONJ
faba-284	19	9	moving	move	VERB
faba-284	19	10	-	-	PUNCT
faba-284	19	11	averageand	averageand	NOUN
faba-284	19	12	breakout	breakout	NOUN
faba-284	19	13	-	-	PUNCT
faba-284	19	14	based	base	VERB
faba-284	19	15	strategies	strategy	NOUN
faba-284	19	16	can	can	AUX
faba-284	19	17	generate	generate	VERB
faba-284	19	18	statistically	statistically	ADV
faba-284	19	19	and	and	CCONJ
faba-284	19	20	economically	economically	ADV
faba-284	19	21	significant	significant	ADJ
faba-284	19	22	excess	excess	ADJ
faba-284	19	23	returns	return	NOUN
faba-284	19	24	relative	relative	ADJ
faba-284	19	25	to	to	ADP
faba-284	19	26	simple	simple	ADJ
faba-284	19	27	buy	buy	NOUN
faba-284	19	28	-	-	PUNCT
faba-284	19	29	andhold	andhold	VERB
faba-284	19	30	exposure	exposure	NOUN
faba-284	19	31	in	in	ADP
faba-284	19	32	bitcoin	bitcoin	ADJ
faba-284	19	33	and	and	CCONJ
faba-284	19	34	related	related	ADJ
faba-284	19	35	crypto	crypto	NOUN
faba-284	19	36	-	-	NOUN
faba-284	19	37	assets	asset	NOUN
faba-284	19	38	(	(	PUNCT
faba-284	19	39	corbet	corbet	PROPN
faba-284	19	40	et	et	PROPN
faba-284	19	41	al	al	PROPN
faba-284	19	42	.	.	PROPN
faba-284	19	43	2019	2019	NUM
faba-284	19	44	;	;	PUNCT
faba-284	19	45	gerritsen	gerritsen	PROPN
faba-284	19	46	et	et	PROPN
faba-284	19	47	al	al	PROPN
faba-284	19	48	.	.	PROPN
faba-284	19	49	2020	2020	NUM
faba-284	19	50	)	)	PUNCT
faba-284	19	51	.	.	PUNCT
faba-284	20	1	together	together	ADV
faba-284	20	2	,	,	PUNCT
faba-284	20	3	these	these	DET
faba-284	20	4	strands	strand	NOUN
faba-284	20	5	of	of	ADP
faba-284	20	6	evidence	evidence	NOUN
faba-284	20	7	motivate	motivate	VERB
faba-284	20	8	the	the	DET
faba-284	20	9	idea	idea	NOUN
faba-284	20	10	that	that	PRON
faba-284	20	11	btc	btc	PROPN
faba-284	20	12	’s	’s	PART
faba-284	20	13	protocol	protocol	NOUN
faba-284	20	14	-	-	PUNCT
faba-284	20	15	driven	drive	VERB
faba-284	20	16	supply	supply	NOUN
faba-284	20	17	cycle	cycle	NOUN
faba-284	20	18	and	and	CCONJ
faba-284	20	19	its	its	PRON
faba-284	20	20	price	price	NOUN
faba-284	20	21	dynamics	dynamic	NOUN
faba-284	20	22	may	may	AUX
faba-284	20	23	be	be	AUX
faba-284	20	24	amenable	amenable	ADJ
faba-284	20	25	to	to	ADP
faba-284	20	26	rule	rule	NOUN
faba-284	20	27	-	-	PUNCT
faba-284	20	28	based	base	VERB
faba-284	20	29	exploitation	exploitation	NOUN
faba-284	20	30	.	.	PUNCT
faba-284	21	1	the	the	DET
faba-284	21	2	present	present	ADJ
faba-284	21	3	study	study	NOUN
faba-284	21	4	builds	build	VERB
faba-284	21	5	on	on	ADP
faba-284	21	6	this	this	DET
faba-284	21	7	literature	literature	NOUN
faba-284	21	8	by	by	ADP
faba-284	21	9	examining	examine	VERB
faba-284	21	10	whether	whether	SCONJ
faba-284	21	11	a	a	DET
faba-284	21	12	trading	trading	NOUN
faba-284	21	13	strategy	strategy	NOUN
faba-284	21	14	explicitly	explicitly	ADV
faba-284	21	15	anchored	anchor	VERB
faba-284	21	16	to	to	PART
faba-284	21	17	bitcoin	bitcoin	PROPN
faba-284	21	18	’s	’s	PART
faba-284	21	19	halving	halve	VERB
faba-284	21	20	cycle	cycle	NOUN
faba-284	21	21	and	and	CCONJ
faba-284	21	22	implemented	implement	VERB
faba-284	21	23	through	through	ADP
faba-284	21	24	a	a	DET
faba-284	21	25	set	set	NOUN
faba-284	21	26	of	of	ADP
faba-284	21	27	technical	technical	ADJ
faba-284	21	28	indicators	indicator	NOUN
faba-284	21	29	can	can	AUX
faba-284	21	30	outperform	outperform	VERB
faba-284	21	31	a	a	DET
faba-284	21	32	passive	passive	ADJ
faba-284	21	33	btc	btc	ADJ
faba-284	21	34	benchmark	benchmark	NOUN
faba-284	21	35	(	(	PUNCT
faba-284	21	36	kibar	kibar	NOUN
faba-284	21	37	et	et	PROPN
faba-284	21	38	al	al	PROPN
faba-284	21	39	.	.	PROPN
faba-284	21	40	2023	2023	NUM
faba-284	21	41	)	)	PUNCT
faba-284	21	42	.	.	PUNCT
faba-284	22	1	the	the	DET
faba-284	22	2	objective	objective	NOUN
faba-284	22	3	is	be	AUX
faba-284	22	4	twofold	twofold	ADJ
faba-284	22	5	.	.	PUNCT
faba-284	23	1	first	first	ADV
faba-284	23	2	,	,	PUNCT
faba-284	23	3	the	the	DET
faba-284	23	4	paper	paper	NOUN
faba-284	23	5	characterizes	characterize	VERB
faba-284	23	6	btc	btc	VERB
faba-284	23	7	’s	’s	PART
faba-284	23	8	historical	historical	ADJ
faba-284	23	9	price	price	NOUN
faba-284	23	10	behavior	behavior	NOUN
faba-284	23	11	around	around	ADP
faba-284	23	12	halving	halve	VERB
faba-284	23	13	events	event	NOUN
faba-284	23	14	and	and	CCONJ
faba-284	23	15	the	the	DET
faba-284	23	16	associated	associated	ADJ
faba-284	23	17	cycles	cycle	NOUN
faba-284	23	18	.	.	PUNCT
faba-284	24	1	second	second	ADJ
faba-284	24	2	,	,	PUNCT
faba-284	24	3	it	it	PRON
faba-284	24	4	proposes	propose	VERB
faba-284	24	5	and	and	CCONJ
faba-284	24	6	evaluates	evaluate	VERB
faba-284	24	7	a	a	DET
faba-284	24	8	transparent	transparent	ADJ
faba-284	24	9	,	,	PUNCT
faba-284	24	10	rule	rule	NOUN
faba-284	24	11	-	-	PUNCT
faba-284	24	12	based	base	VERB
faba-284	24	13	strategy	strategy	NOUN
faba-284	24	14	that	that	PRON
faba-284	24	15	combines	combine	VERB
faba-284	24	16	halving	halve	VERB
faba-284	24	17	timing	timing	NOUN
faba-284	24	18	with	with	ADP
faba-284	24	19	technical	technical	ADJ
faba-284	24	20	signals	signal	NOUN
faba-284	24	21	(	(	PUNCT
faba-284	24	22	such	such	ADJ
faba-284	24	23	as	as	ADP
faba-284	24	24	moving	move	VERB
faba-284	24	25	averages	average	NOUN
faba-284	24	26	and	and	CCONJ
faba-284	24	27	cycle	cycle	NOUN
faba-284	24	28	-	-	PUNCT
faba-284	24	29	top	top	NOUN
faba-284	24	30	indicators	indicator	NOUN
faba-284	24	31	)	)	PUNCT
faba-284	24	32	to	to	PART
faba-284	24	33	determine	determine	VERB
faba-284	24	34	entry	entry	NOUN
faba-284	24	35	and	and	CCONJ
faba-284	24	36	exit	exit	NOUN
faba-284	24	37	points	point	NOUN
faba-284	24	38	,	,	PUNCT
faba-284	24	39	and	and	CCONJ
faba-284	24	40	then	then	ADV
faba-284	24	41	assesses	assess	VERB
faba-284	24	42	whether	whether	SCONJ
faba-284	24	43	this	this	DET
faba-284	24	44	strategy	strategy	NOUN
faba-284	24	45	generates	generate	VERB
faba-284	24	46	positive	positive	ADJ
faba-284	24	47	and	and	CCONJ
faba-284	24	48	statistically	statistically	ADV
faba-284	24	49	significant	significant	ADJ
faba-284	24	50	alpha	alpha	NOUN
faba-284	24	51	relative	relative	ADJ
faba-284	24	52	to	to	PART
faba-284	24	53	buy	buy	VERB
faba-284	24	54	-	-	PUNCT
faba-284	24	55	and	and	CCONJ
faba-284	24	56	-	-	PUNCT
faba-284	24	57	hold	hold	VERB
faba-284	24	58	.	.	PUNCT
faba-284	25	1	methodologically	methodologically	ADV
faba-284	25	2	,	,	PUNCT
faba-284	25	3	the	the	DET
faba-284	25	4	analysis	analysis	NOUN
faba-284	25	5	employs	employ	VERB
faba-284	25	6	daily	daily	ADJ
faba-284	25	7	btc	btc	VERB
faba-284	25	8	/	/	SYM
faba-284	25	9	usd	usd	NOUN
faba-284	25	10	price	price	NOUN
faba-284	25	11	data	datum	NOUN
faba-284	25	12	over	over	ADP
faba-284	25	13	multiple	multiple	ADJ
faba-284	25	14	cycles	cycle	NOUN
faba-284	25	15	and	and	CCONJ
faba-284	25	16	applies	apply	VERB
faba-284	25	17	standard	standard	ADJ
faba-284	25	18	financial	financial	ADJ
faba-284	25	19	econometric	econometric	ADJ
faba-284	25	20	tools	tool	NOUN
faba-284	25	21	,	,	PUNCT
faba-284	25	22	including	include	VERB
faba-284	25	23	regression	regression	NOUN
faba-284	25	24	analysis	analysis	NOUN
faba-284	25	25	and	and	CCONJ
faba-284	25	26	hypothesis	hypothesis	NOUN
faba-284	25	27	testing	testing	NOUN
faba-284	25	28	,	,	PUNCT
faba-284	25	29	to	to	PART
faba-284	25	30	quantify	quantify	VERB
faba-284	25	31	performance	performance	NOUN
faba-284	25	32	differentials	differential	NOUN
faba-284	25	33	between	between	ADP
faba-284	25	34	the	the	DET
faba-284	25	35	active	active	ADJ
faba-284	25	36	strategy	strategy	NOUN
faba-284	25	37	and	and	CCONJ
faba-284	25	38	the	the	DET
faba-284	25	39	passive	passive	ADJ
faba-284	25	40	benchmark	benchmark	NOUN
faba-284	25	41	across	across	ADP
faba-284	25	42	overlapping	overlap	VERB
faba-284	25	43	sample	sample	NOUN
faba-284	25	44	windows	window	NOUN
faba-284	25	45	.	.	PUNCT
faba-284	26	1	the	the	DET
faba-284	26	2	study	study	NOUN
faba-284	26	3	also	also	ADV
faba-284	26	4	relates	relate	VERB
faba-284	26	5	the	the	DET
faba-284	26	6	empirical	empirical	ADJ
faba-284	26	7	findings	finding	NOUN
faba-284	26	8	to	to	ADP
faba-284	26	9	broader	broad	ADJ
faba-284	26	10	macro	macro	ADJ
faba-284	26	11	-	-	ADJ
faba-284	26	12	financial	financial	ADJ
faba-284	26	13	considerations	consideration	NOUN
faba-284	26	14	—	—	PUNCT
faba-284	26	15	such	such	ADJ
faba-284	26	16	as	as	ADP
faba-284	26	17	monetary	monetary	ADJ
faba-284	26	18	conditions	condition	NOUN
faba-284	26	19	,	,	PUNCT
faba-284	26	20	investor	investor	NOUN
faba-284	26	21	risk	risk	NOUN
faba-284	26	22	appetite	appetite	NOUN
faba-284	26	23	,	,	PUNCT
faba-284	26	24	and	and	CCONJ
faba-284	26	25	the	the	DET
faba-284	26	26	role	role	NOUN
faba-284	26	27	of	of	ADP
faba-284	26	28	btc	btc	NOUN
faba-284	26	29	as	as	ADP
faba-284	26	30	a	a	DET
faba-284	26	31	scarce	scarce	ADJ
faba-284	26	32	digital	digital	ADJ
faba-284	26	33	asset	asset	NOUN
faba-284	26	34	—	—	PUNCT
faba-284	26	35	thereby	thereby	ADV
faba-284	26	36	situating	situate	VERB
faba-284	26	37	the	the	DET
faba-284	26	38	results	result	NOUN
faba-284	26	39	within	within	ADP
faba-284	26	40	both	both	CCONJ
faba-284	26	41	the	the	DET
faba-284	26	42	growing	grow	VERB
faba-284	26	43	academic	academic	ADJ
faba-284	26	44	literature	literature	NOUN
faba-284	26	45	on	on	ADP
faba-284	26	46	cryptocurrency	cryptocurrency	NOUN
faba-284	26	47	markets	market	NOUN
faba-284	26	48	and	and	CCONJ
faba-284	26	49	the	the	DET
faba-284	26	50	practical	practical	ADJ
faba-284	26	51	context	context	NOUN
faba-284	26	52	of	of	ADP
faba-284	26	53	portfolio	portfolio	NOUN
faba-284	26	54	management	management	NOUN
faba-284	26	55	and	and	CCONJ
faba-284	26	56	investment	investment	NOUN
faba-284	26	57	strategy	strategy	NOUN
faba-284	26	58	design	design	NOUN
faba-284	26	59	(	(	PUNCT
faba-284	26	60	singal	singal	NOUN
faba-284	26	61	2023	2023	NUM
faba-284	26	62	)	)	PUNCT
faba-284	26	63	.	.	PUNCT
faba-284	27	1	methods	method	NOUN
faba-284	27	2	this	this	DET
faba-284	27	3	paper	paper	NOUN
faba-284	27	4	employs	employ	VERB
faba-284	27	5	different	different	ADJ
faba-284	27	6	theoretical	theoretical	ADJ
faba-284	27	7	tools	tool	NOUN
faba-284	27	8	widely	widely	ADV
faba-284	27	9	used	use	VERB
faba-284	27	10	in	in	ADP
faba-284	27	11	the	the	DET
faba-284	27	12	financial	financial	ADJ
faba-284	27	13	world	world	NOUN
faba-284	27	14	to	to	PART
faba-284	27	15	support	support	VERB
faba-284	27	16	or	or	CCONJ
faba-284	27	17	reject	reject	VERB
faba-284	27	18	the	the	DET
faba-284	27	19	idea	idea	NOUN
faba-284	27	20	behind	behind	ADP
faba-284	27	21	the	the	DET
faba-284	27	22	investment	investment	NOUN
faba-284	27	23	strategy	strategy	NOUN
faba-284	27	24	.	.	PUNCT
faba-284	28	1	jensen	jensen	PROPN
faba-284	28	2	’s	’s	PART
faba-284	28	3	alpha	alpha	PROPN
faba-284	28	4	jensen	jensen	PROPN
faba-284	28	5	’s	’s	PART
faba-284	28	6	alpha	alpha	NOUN
faba-284	28	7	is	be	AUX
faba-284	28	8	based	base	VERB
faba-284	28	9	on	on	ADP
faba-284	28	10	systematic	systematic	ADJ
faba-284	28	11	risk	risk	NOUN
faba-284	28	12	.	.	PUNCT
faba-284	29	1	any	any	DET
faba-284	29	2	given	give	VERB
faba-284	29	3	portfolio	portfolio	NOUN
faba-284	29	4	’s	’s	PART
faba-284	29	5	systematic	systematic	ADJ
faba-284	29	6	risk	risk	NOUN
faba-284	29	7	can	can	AUX
faba-284	29	8	be	be	AUX
faba-284	29	9	measured	measure	VERB
faba-284	29	10	by	by	ADP
faba-284	29	11	estimating	estimate	VERB
faba-284	29	12	the	the	DET
faba-284	29	13	market	market	NOUN
faba-284	29	14	model	model	NOUN
faba-284	29	15	,	,	PUNCT
faba-284	29	16	which	which	PRON
faba-284	29	17	is	be	AUX
faba-284	29	18	done	do	VERB
faba-284	29	19	by	by	ADP
faba-284	29	20	regressing	regress	VERB
faba-284	29	21	the	the	DET
faba-284	29	22	portfolio	portfolio	NOUN
faba-284	29	23	’s	’s	PART
faba-284	29	24	daily	daily	ADJ
faba-284	29	25	return	return	NOUN
faba-284	29	26	on	on	ADP
faba-284	29	27	the	the	DET
faba-284	29	28	market	market	NOUN
faba-284	29	29	’s	’s	PART
faba-284	29	30	daily	daily	ADJ
faba-284	29	31	return	return	NOUN
faba-284	29	32	.	.	PUNCT
faba-284	30	1	the	the	DET
faba-284	30	2	coefficient	coefficient	NOUN
faba-284	30	3	on	on	ADP
faba-284	30	4	the	the	DET
faba-284	30	5	market	market	NOUN
faba-284	30	6	return	return	NOUN
faba-284	30	7	is	be	AUX
faba-284	30	8	an	an	DET
faba-284	30	9	estimate	estimate	NOUN
faba-284	30	10	of	of	ADP
faba-284	30	11	the	the	DET
faba-284	30	12	beta	beta	ADJ
faba-284	30	13	risk	risk	NOUN
faba-284	30	14	of	of	ADP
faba-284	30	15	the	the	DET
faba-284	30	16	portfolio	portfolio	NOUN
faba-284	30	17	.	.	PUNCT
faba-284	31	1	to	to	PART
faba-284	31	2	calculate	calculate	VERB
faba-284	31	3	the	the	DET
faba-284	31	4	risk	risk	NOUN
faba-284	31	5	-	-	PUNCT
faba-284	31	6	adjusted	adjust	VERB
faba-284	31	7	return	return	NOUN
faba-284	31	8	of	of	ADP
faba-284	31	9	the	the	DET
faba-284	31	10	portfolio	portfolio	NOUN
faba-284	31	11	,	,	PUNCT
faba-284	31	12	it	it	PRON
faba-284	31	13	is	be	AUX
faba-284	31	14	necessary	necessary	ADJ
faba-284	31	15	to	to	PART
faba-284	31	16	use	use	VERB
faba-284	31	17	the	the	DET
faba-284	31	18	beta	beta	NOUN
faba-284	31	19	of	of	ADP
faba-284	31	20	the	the	DET
faba-284	31	21	portfolio	portfolio	NOUN
faba-284	31	22	and	and	CCONJ
faba-284	31	23	the	the	DET
faba-284	31	24	capm	capm	PROPN
faba-284	31	25	.	.	PUNCT
faba-284	32	1	the	the	DET
faba-284	32	2	difference	difference	NOUN
faba-284	32	3	between	between	ADP
faba-284	32	4	the	the	DET
faba-284	32	5	actual	actual	ADJ
faba-284	32	6	portfolio	portfolio	NOUN
faba-284	32	7	return	return	NOUN
faba-284	32	8	and	and	CCONJ
faba-284	32	9	the	the	DET
faba-284	32	10	calculated	calculated	ADJ
faba-284	32	11	risk	risk	NOUN
faba-284	32	12	-	-	PUNCT
faba-284	32	13	adjusted	adjust	VERB
faba-284	32	14	return	return	NOUN
faba-284	32	15	is	be	AUX
faba-284	32	16	a	a	DET
faba-284	32	17	measure	measure	NOUN
faba-284	32	18	of	of	ADP
faba-284	32	19	the	the	DET
faba-284	32	20	portfolio	portfolio	NOUN
faba-284	32	21	’s	’s	PART
faba-284	32	22	performance	performance	NOUN
faba-284	32	23	relative	relative	ADJ
faba-284	32	24	to	to	ADP
faba-284	32	25	the	the	DET
faba-284	32	26	market	market	NOUN
faba-284	32	27	portfolio	portfolio	NOUN
faba-284	32	28	and	and	CCONJ
faba-284	32	29	is	be	AUX
faba-284	32	30	called	call	VERB
faba-284	32	31	jensen	jensen	PROPN
faba-284	32	32	’s	’s	PART
faba-284	32	33	alpha	alpha	NOUN
faba-284	32	34	.	.	PUNCT
faba-284	33	1	by	by	ADP
faba-284	33	2	definition	definition	NOUN
faba-284	33	3	,	,	PUNCT
faba-284	33	4	α	α	NOUN
faba-284	33	5	of	of	ADP
faba-284	33	6	the	the	DET
faba-284	33	7	market	market	NOUN
faba-284	33	8	is	be	AUX
faba-284	33	9	zero	zero	NUM
faba-284	33	10	.	.	PUNCT
faba-284	34	1	jensen	jensen	PROPN
faba-284	34	2	’s	’s	PART
faba-284	34	3	alpha	alpha	NOUN
faba-284	34	4	is	be	AUX
faba-284	34	5	also	also	ADV
faba-284	34	6	the	the	DET
faba-284	34	7	vertical	vertical	ADJ
faba-284	34	8	distance	distance	NOUN
faba-284	34	9	from	from	ADP
faba-284	34	10	the	the	DET
faba-284	34	11	security	security	NOUN
faba-284	34	12	market	market	NOUN
faba-284	34	13	line	line	NOUN
faba-284	34	14	(	(	PUNCT
faba-284	34	15	sml	sml	PROPN
faba-284	34	16	)	)	PUNCT
faba-284	34	17	measuring	measure	VERB
faba-284	34	18	the	the	DET
faba-284	34	19	excess	excess	ADJ
faba-284	34	20	return	return	NOUN
faba-284	34	21	for	for	ADP
faba-284	34	22	the	the	DET
faba-284	34	23	same	same	ADJ
faba-284	34	24	risk	risk	NOUN
faba-284	34	25	as	as	ADP
faba-284	34	26	that	that	PRON
faba-284	34	27	of	of	ADP
faba-284	34	28	the	the	DET
faba-284	34	29	market	market	NOUN
faba-284	34	30	and	and	CCONJ
faba-284	34	31	is	be	AUX
faba-284	34	32	given	give	VERB
faba-284	34	33	by	by	ADP
faba-284	34	34	:	:	PUNCT
faba-284	34	35	𝛼𝑝	𝛼𝑝	PROPN
faba-284	34	36	=	=	SYM
faba-284	34	37	𝑅𝑝	𝑅𝑝	PROPN
faba-284	34	38	−	−	NOUN
faba-284	34	39	{	{	PUNCT
faba-284	34	40	𝑅𝑓	𝑅𝑓	PROPN
faba-284	34	41	+	+	NUM
faba-284	34	42	𝛽𝑝[𝐸(𝑅𝑚	𝛽𝑝[𝐸(𝑅𝑚	NOUN
faba-284	34	43	)	)	PUNCT
faba-284	34	44	−	−	PROPN
faba-284	35	1	𝑅𝑓	𝑅𝑓	PROPN
faba-284	35	2	]	]	PUNCT
faba-284	35	3	}	}	PUNCT
faba-284	35	4	(	(	PUNCT
faba-284	35	5	1	1	X
faba-284	35	6	)	)	PUNCT
faba-284	35	7	where	where	SCONJ
faba-284	35	8	:	:	PUNCT
faba-284	35	9	𝑅𝑝	𝑅𝑝	PROPN
faba-284	35	10	−	−	PROPN
faba-284	35	11	realized	realize	VERB
faba-284	35	12	return	return	NOUN
faba-284	35	13	of	of	ADP
faba-284	35	14	the	the	DET
faba-284	35	15	investment	investment	NOUN
faba-284	35	16	𝑅𝑓	𝑅𝑓	PROPN
faba-284	35	17	−	−	NOUN
faba-284	35	18	risk	risk	NOUN
faba-284	35	19	-	-	PUNCT
faba-284	35	20	free	free	ADJ
faba-284	35	21	rate	rate	NOUN
faba-284	35	22	of	of	ADP
faba-284	35	23	return	return	NOUN
faba-284	35	24	for	for	ADP
faba-284	35	25	the	the	DET
faba-284	35	26	time	time	NOUN
faba-284	35	27	period	period	NOUN
faba-284	35	28	𝑅𝑚	𝑅𝑚	PROPN
faba-284	35	29	−	−	PROPN
faba-284	35	30	realized	realize	VERB
faba-284	35	31	return	return	NOUN
faba-284	35	32	of	of	ADP
faba-284	35	33	the	the	DET
faba-284	35	34	market	market	NOUN
faba-284	35	35	index	index	NOUN
faba-284	35	36	𝛽𝑝	𝛽𝑝	ADP
faba-284	35	37	−	−	PROPN
faba-284	35	38	beta	beta	NOUN
faba-284	35	39	of	of	ADP
faba-284	35	40	the	the	DET
faba-284	35	41	portfolio	portfolio	NOUN
faba-284	35	42	of	of	ADP
faba-284	35	43	investment	investment	NOUN
faba-284	35	44	with	with	ADP
faba-284	35	45	respect	respect	NOUN
faba-284	35	46	to	to	ADP
faba-284	35	47	the	the	DET
faba-284	35	48	chosen	choose	VERB
faba-284	35	49	market	market	NOUN
faba-284	35	50	index	index	NOUN
faba-284	35	51	alejandro	alejandro	PROPN
faba-284	35	52	rabinovich	rabinovich	PROPN
faba-284	35	53	/	/	SYM
faba-284	35	54	finance	finance	NOUN
faba-284	35	55	,	,	PUNCT
faba-284	35	56	accounting	accounting	NOUN
faba-284	35	57	and	and	CCONJ
faba-284	35	58	business	business	NOUN
faba-284	35	59	analysis	analysis	NOUN
faba-284	35	60	,	,	PUNCT
faba-284	35	61	volume	volume	NOUN
faba-284	35	62	7	7	NUM
faba-284	35	63	,	,	PUNCT
faba-284	35	64	issue	issue	NOUN
faba-284	35	65	2	2	NUM
faba-284	35	66	,	,	PUNCT
faba-284	35	67	2025	2025	NUM
faba-284	35	68	252	252	NUM
faba-284	35	69	if	if	SCONJ
faba-284	35	70	the	the	DET
faba-284	35	71	period	period	NOUN
faba-284	35	72	is	be	AUX
faba-284	35	73	long	long	ADJ
faba-284	35	74	,	,	PUNCT
faba-284	35	75	it	it	PRON
faba-284	35	76	may	may	AUX
faba-284	35	77	contain	contain	VERB
faba-284	35	78	different	different	ADJ
faba-284	35	79	risk	risk	NOUN
faba-284	35	80	-	-	PUNCT
faba-284	35	81	free	free	ADJ
faba-284	35	82	rates	rate	NOUN
faba-284	35	83	,	,	PUNCT
faba-284	35	84	in	in	ADP
faba-284	35	85	which	which	DET
faba-284	35	86	case	case	NOUN
faba-284	35	87	𝑅𝑓	𝑅𝑓	PROPN
faba-284	35	88	represents	represent	VERB
faba-284	35	89	the	the	DET
faba-284	35	90	average	average	ADJ
faba-284	35	91	risk	risk	NOUN
faba-284	35	92	-	-	PUNCT
faba-284	35	93	free	free	ADJ
faba-284	35	94	rate	rate	NOUN
faba-284	35	95	.	.	PUNCT
faba-284	36	1	furthermore	furthermore	ADV
faba-284	36	2	,	,	PUNCT
faba-284	36	3	the	the	DET
faba-284	36	4	returns	return	NOUN
faba-284	36	5	in	in	ADP
faba-284	36	6	the	the	DET
faba-284	36	7	equation	equation	NOUN
faba-284	36	8	are	be	AUX
faba-284	36	9	all	all	PRON
faba-284	36	10	realized	realize	VERB
faba-284	36	11	,	,	PUNCT
faba-284	36	12	actual	actual	ADJ
faba-284	36	13	returns	return	NOUN
faba-284	36	14	.	.	PUNCT
faba-284	37	1	the	the	DET
faba-284	37	2	sign	sign	NOUN
faba-284	37	3	of	of	ADP
faba-284	37	4	𝛼𝑝	𝛼𝑝	PROPN
faba-284	37	5	indicates	indicate	VERB
faba-284	37	6	whether	whether	SCONJ
faba-284	37	7	the	the	DET
faba-284	37	8	portfolio	portfolio	NOUN
faba-284	37	9	has	have	AUX
faba-284	37	10	outperformed	outperform	VERB
faba-284	37	11	the	the	DET
faba-284	37	12	market	market	NOUN
faba-284	37	13	.	.	PUNCT
faba-284	38	1	if	if	SCONJ
faba-284	38	2	𝛼𝑝	𝛼𝑝	PROPN
faba-284	38	3	is	be	AUX
faba-284	38	4	positive	positive	ADJ
faba-284	38	5	,	,	PUNCT
faba-284	38	6	then	then	ADV
faba-284	38	7	the	the	DET
faba-284	38	8	portfolio	portfolio	NOUN
faba-284	38	9	has	have	AUX
faba-284	38	10	outperformed	outperform	VERB
faba-284	38	11	the	the	DET
faba-284	38	12	market	market	NOUN
faba-284	38	13	;	;	PUNCT
faba-284	38	14	if	if	SCONJ
faba-284	38	15	𝛼𝑝	𝛼𝑝	PROPN
faba-284	38	16	is	be	AUX
faba-284	38	17	negative	negative	ADJ
faba-284	38	18	,	,	PUNCT
faba-284	38	19	the	the	DET
faba-284	38	20	portfolio	portfolio	NOUN
faba-284	38	21	has	have	AUX
faba-284	38	22	underperformed	underperform	VERB
faba-284	38	23	the	the	DET
faba-284	38	24	market	market	NOUN
faba-284	38	25	.	.	PUNCT
faba-284	39	1	jensen	jensen	PROPN
faba-284	39	2	’s	’s	PART
faba-284	39	3	alpha	alpha	NOUN
faba-284	39	4	is	be	AUX
faba-284	39	5	commonly	commonly	ADV
faba-284	39	6	used	use	VERB
faba-284	39	7	for	for	ADP
faba-284	39	8	evaluating	evaluate	VERB
faba-284	39	9	most	most	ADJ
faba-284	39	10	institutional	institutional	ADJ
faba-284	39	11	managers	manager	NOUN
faba-284	39	12	,	,	PUNCT
faba-284	39	13	pension	pension	NOUN
faba-284	39	14	funds	fund	NOUN
faba-284	39	15	,	,	PUNCT
faba-284	39	16	and	and	CCONJ
faba-284	39	17	mutual	mutual	ADJ
faba-284	39	18	funds	fund	NOUN
faba-284	39	19	.	.	PUNCT
faba-284	40	1	values	value	NOUN
faba-284	40	2	of	of	ADP
faba-284	40	3	alpha	alpha	NOUN
faba-284	40	4	can	can	AUX
faba-284	40	5	be	be	AUX
faba-284	40	6	used	use	VERB
faba-284	40	7	to	to	PART
faba-284	40	8	rank	rank	VERB
faba-284	40	9	different	different	ADJ
faba-284	40	10	managers	manager	NOUN
faba-284	40	11	and	and	CCONJ
faba-284	40	12	the	the	DET
faba-284	40	13	performance	performance	NOUN
faba-284	40	14	of	of	ADP
faba-284	40	15	their	their	PRON
faba-284	40	16	portfolios	portfolio	NOUN
faba-284	40	17	,	,	PUNCT
faba-284	40	18	as	as	ADV
faba-284	40	19	well	well	ADV
faba-284	40	20	as	as	ADP
faba-284	40	21	the	the	DET
faba-284	40	22	magnitude	magnitude	NOUN
faba-284	40	23	of	of	ADP
faba-284	40	24	underperformance	underperformance	NOUN
faba-284	40	25	or	or	CCONJ
faba-284	40	26	overperformance	overperformance	NOUN
faba-284	40	27	.	.	PUNCT
faba-284	41	1	in	in	ADP
faba-284	41	2	this	this	DET
faba-284	41	3	work	work	NOUN
faba-284	41	4	jensen	jensen	PROPN
faba-284	41	5	’s	’s	PART
faba-284	41	6	alpha	alpha	NOUN
faba-284	41	7	is	be	AUX
faba-284	41	8	used	use	VERB
faba-284	41	9	slightly	slightly	ADV
faba-284	41	10	differently	differently	ADV
faba-284	41	11	,	,	PUNCT
faba-284	41	12	given	give	VERB
faba-284	41	13	that	that	SCONJ
faba-284	41	14	the	the	DET
faba-284	41	15	data	datum	NOUN
faba-284	41	16	analyzed	analyze	VERB
faba-284	41	17	is	be	AUX
faba-284	41	18	from	from	ADP
faba-284	41	19	the	the	DET
faba-284	41	20	crypto	crypto	NOUN
faba-284	41	21	market	market	NOUN
faba-284	41	22	where	where	SCONJ
faba-284	41	23	a	a	DET
faba-284	41	24	rf	rf	NOUN
faba-284	41	25	does	do	AUX
faba-284	41	26	n’t	not	PART
faba-284	41	27	exist	exist	VERB
faba-284	41	28	.	.	PUNCT
faba-284	42	1	the	the	DET
faba-284	42	2	alpha	alpha	PROPN
faba-284	42	3	coefficient	coefficient	NOUN
faba-284	42	4	then	then	ADV
faba-284	42	5	becomes	become	VERB
faba-284	42	6	a	a	DET
faba-284	42	7	sort	sort	NOUN
faba-284	42	8	of	of	ADP
faba-284	42	9	“	"	PUNCT
faba-284	42	10	raw	raw	ADJ
faba-284	42	11	alpha	alpha	NOUN
faba-284	42	12	”	"	PUNCT
faba-284	42	13	,	,	PUNCT
faba-284	42	14	indicating	indicate	VERB
faba-284	42	15	whether	whether	SCONJ
faba-284	42	16	the	the	DET
faba-284	42	17	strategy	strategy	NOUN
faba-284	42	18	outperformed	outperform	VERB
faba-284	42	19	the	the	DET
faba-284	42	20	market	market	NOUN
faba-284	42	21	,	,	PUNCT
faba-284	42	22	or	or	CCONJ
faba-284	42	23	not	not	PART
faba-284	42	24	.	.	PUNCT
faba-284	43	1	regression	regression	VERB
faba-284	43	2	analysis	analysis	NOUN
faba-284	43	3	regression	regression	NOUN
faba-284	43	4	analysis	analysis	NOUN
faba-284	43	5	,	,	PUNCT
faba-284	43	6	both	both	CCONJ
faba-284	43	7	the	the	DET
faba-284	43	8	simple	simple	ADJ
faba-284	43	9	and	and	CCONJ
faba-284	43	10	multiple	multiple	ADJ
faba-284	43	11	forms	form	NOUN
faba-284	43	12	,	,	PUNCT
faba-284	43	13	are	be	AUX
faba-284	43	14	used	use	VERB
faba-284	43	15	by	by	ADP
faba-284	43	16	financial	financial	ADJ
faba-284	43	17	analysts	analyst	NOUN
faba-284	43	18	and	and	CCONJ
faba-284	43	19	portfolio	portfolio	NOUN
faba-284	43	20	managers	manager	NOUN
faba-284	43	21	to	to	PART
faba-284	43	22	examine	examine	VERB
faba-284	43	23	whether	whether	SCONJ
faba-284	43	24	a	a	DET
faba-284	43	25	variable	variable	NOUN
faba-284	43	26	is	be	AUX
faba-284	43	27	useful	useful	ADJ
faba-284	43	28	for	for	ADP
faba-284	43	29	explaining	explain	VERB
faba-284	43	30	another	another	DET
faba-284	43	31	variable	variable	NOUN
faba-284	43	32	.	.	PUNCT
faba-284	44	1	it	it	PRON
faba-284	44	2	also	also	ADV
faba-284	44	3	allows	allow	VERB
faba-284	44	4	for	for	ADP
faba-284	44	5	the	the	DET
faba-284	44	6	use	use	NOUN
faba-284	44	7	of	of	ADP
faba-284	44	8	hypotheses	hypothesis	NOUN
faba-284	44	9	testing	test	VERB
faba-284	44	10	to	to	PART
faba-284	44	11	examine	examine	VERB
faba-284	44	12	the	the	DET
faba-284	44	13	strength	strength	NOUN
faba-284	44	14	of	of	ADP
faba-284	44	15	the	the	DET
faba-284	44	16	relationship	relationship	NOUN
faba-284	44	17	between	between	ADP
faba-284	44	18	the	the	DET
faba-284	44	19	variables	variable	NOUN
faba-284	44	20	.	.	PUNCT
faba-284	45	1	the	the	DET
faba-284	45	2	variable	variable	NOUN
faba-284	45	3	whose	whose	DET
faba-284	45	4	variation	variation	NOUN
faba-284	45	5	is	be	AUX
faba-284	45	6	being	be	AUX
faba-284	45	7	explained	explain	VERB
faba-284	45	8	is	be	AUX
faba-284	45	9	referred	refer	VERB
faba-284	45	10	to	to	ADP
faba-284	45	11	as	as	ADP
faba-284	45	12	the	the	DET
faba-284	45	13	dependent	dependent	ADJ
faba-284	45	14	variable	variable	NOUN
faba-284	45	15	or	or	CCONJ
faba-284	45	16	explained	explain	VERB
faba-284	45	17	variable	variable	NOUN
faba-284	45	18	,	,	PUNCT
faba-284	45	19	typically	typically	ADV
faba-284	45	20	denoted	denote	VERB
faba-284	45	21	by	by	ADP
faba-284	45	22	y.	y.	PROPN
faba-284	45	23	whereas	whereas	SCONJ
faba-284	45	24	,	,	PUNCT
faba-284	45	25	the	the	DET
faba-284	45	26	variable	variable	NOUN
faba-284	45	27	used	use	VERB
faba-284	45	28	to	to	PART
faba-284	45	29	explain	explain	VERB
faba-284	45	30	the	the	DET
faba-284	45	31	variation	variation	NOUN
faba-284	45	32	of	of	ADP
faba-284	45	33	the	the	DET
faba-284	45	34	dependent	dependent	ADJ
faba-284	45	35	variable	variable	NOUN
faba-284	45	36	is	be	AUX
faba-284	45	37	known	know	VERB
faba-284	45	38	as	as	ADP
faba-284	45	39	the	the	DET
faba-284	45	40	independent	independent	ADJ
faba-284	45	41	variable	variable	NOUN
faba-284	45	42	,	,	PUNCT
faba-284	45	43	denoted	denote	VERB
faba-284	45	44	by	by	ADP
faba-284	45	45	x	x	PROPN
faba-284	45	46	(	(	PUNCT
faba-284	45	47	drake	drake	NOUN
faba-284	45	48	2023b	2023b	NUM
faba-284	45	49	)	)	PUNCT
faba-284	45	50	.	.	PUNCT
faba-284	46	1	in	in	ADP
faba-284	46	2	the	the	DET
faba-284	46	3	current	current	ADJ
faba-284	46	4	paper	paper	NOUN
faba-284	46	5	the	the	DET
faba-284	46	6	dependent	dependent	ADJ
faba-284	46	7	variable	variable	NOUN
faba-284	46	8	y	y	PROPN
faba-284	46	9	is	be	AUX
faba-284	46	10	the	the	DET
faba-284	46	11	investment	investment	NOUN
faba-284	46	12	strategy	strategy	NOUN
faba-284	46	13	,	,	PUNCT
faba-284	46	14	and	and	CCONJ
faba-284	46	15	the	the	DET
faba-284	46	16	independent	independent	ADJ
faba-284	46	17	variable	variable	NOUN
faba-284	46	18	x	x	PUNCT
faba-284	46	19	is	be	AUX
faba-284	46	20	the	the	DET
faba-284	46	21	benchmark	benchmark	NOUN
faba-284	46	22	,	,	PUNCT
faba-284	46	23	btc	btc	NOUN
faba-284	46	24	.	.	PUNCT
faba-284	47	1	given	give	VERB
faba-284	47	2	that	that	SCONJ
faba-284	47	3	there	there	PRON
faba-284	47	4	is	be	VERB
faba-284	47	5	only	only	ADV
faba-284	47	6	one	one	NUM
faba-284	47	7	independent	independent	ADJ
faba-284	47	8	variable	variable	NOUN
faba-284	47	9	,	,	PUNCT
faba-284	47	10	the	the	DET
faba-284	47	11	regression	regression	NOUN
faba-284	47	12	analysis	analysis	NOUN
faba-284	47	13	used	use	VERB
faba-284	47	14	is	be	AUX
faba-284	47	15	a	a	DET
faba-284	47	16	simple	simple	ADJ
faba-284	47	17	linear	linear	NOUN
faba-284	47	18	regression	regression	NOUN
faba-284	47	19	(	(	PUNCT
faba-284	47	20	slr	slr	NOUN
faba-284	47	21	)	)	PUNCT
faba-284	47	22	and	and	CCONJ
faba-284	47	23	it	it	PRON
faba-284	47	24	takes	take	VERB
faba-284	47	25	the	the	DET
faba-284	47	26	following	follow	VERB
faba-284	47	27	form	form	NOUN
faba-284	47	28	:	:	PUNCT
faba-284	47	29	𝑌	𝑌	PROPN
faba-284	47	30	=	=	SYM
faba-284	47	31	𝛼	𝛼	PROPN
faba-284	47	32	+	+	NOUN
faba-284	47	33	𝛽0𝑋	𝛽0𝑋	NOUN
faba-284	47	34	+	+	X
faba-284	47	35	𝜀	𝜀	X
faba-284	47	36	(	(	PUNCT
faba-284	47	37	2	2	NUM
faba-284	47	38	)	)	PUNCT
faba-284	47	39	where	where	SCONJ
faba-284	47	40	:	:	PUNCT
faba-284	47	41	𝑌	𝑌	PROPN
faba-284	47	42	−	−	PROPN
faba-284	47	43	dependent	dependent	ADJ
faba-284	47	44	variable	variable	ADJ
faba-284	47	45	𝑋	𝑋	NOUN
faba-284	47	46	−	−	PROPN
faba-284	47	47	independent	independent	ADJ
faba-284	47	48	variable	variable	NOUN
faba-284	47	49	𝛼	𝛼	PROPN
faba-284	47	50	−	−	PROPN
faba-284	47	51	intercept	intercept	NOUN
faba-284	47	52	𝛽0	𝛽0	NOUN
faba-284	47	53	−	−	PROPN
faba-284	47	54	slope	slope	NOUN
faba-284	47	55	coefficient	coefficient	NOUN
faba-284	47	56	𝜀	𝜀	VERB
faba-284	47	57	−	−	DET
faba-284	47	58	residual	residual	ADJ
faba-284	47	59	error	error	NOUN
faba-284	47	60	in	in	ADP
faba-284	47	61	the	the	DET
faba-284	47	62	context	context	NOUN
faba-284	47	63	of	of	ADP
faba-284	47	64	slr	slr	NOUN
faba-284	47	65	,	,	PUNCT
faba-284	47	66	there	there	PRON
faba-284	47	67	are	be	VERB
faba-284	47	68	some	some	DET
faba-284	47	69	concepts	concept	NOUN
faba-284	47	70	that	that	PRON
faba-284	47	71	play	play	VERB
faba-284	47	72	an	an	DET
faba-284	47	73	important	important	ADJ
faba-284	47	74	role	role	NOUN
faba-284	47	75	in	in	ADP
faba-284	47	76	understanding	understanding	NOUN
faba-284	47	77	and	and	CCONJ
faba-284	47	78	interpreting	interpret	VERB
faba-284	47	79	the	the	DET
faba-284	47	80	relationship	relationship	NOUN
faba-284	47	81	between	between	ADP
faba-284	47	82	the	the	DET
faba-284	47	83	independent	independent	ADJ
faba-284	47	84	and	and	CCONJ
faba-284	47	85	dependent	dependent	ADJ
faba-284	47	86	variables	variable	NOUN
faba-284	47	87	.	.	PUNCT
faba-284	48	1	these	these	DET
faba-284	48	2	concepts	concept	NOUN
faba-284	48	3	are	be	AUX
faba-284	48	4	the	the	DET
faba-284	48	5	mean	mean	ADJ
faba-284	48	6	,	,	PUNCT
faba-284	48	7	variance	variance	NOUN
faba-284	48	8	and	and	CCONJ
faba-284	48	9	standard	standard	ADJ
faba-284	48	10	deviation	deviation	NOUN
faba-284	48	11	.	.	PUNCT
faba-284	49	1	the	the	DET
faba-284	49	2	mean	mean	NOUN
faba-284	49	3	is	be	AUX
faba-284	49	4	used	use	VERB
faba-284	49	5	to	to	PART
faba-284	49	6	calculate	calculate	VERB
faba-284	49	7	the	the	DET
faba-284	49	8	average	average	ADJ
faba-284	49	9	return	return	NOUN
faba-284	49	10	of	of	ADP
faba-284	49	11	a	a	DET
faba-284	49	12	financial	financial	ADJ
faba-284	49	13	asset	asset	NOUN
faba-284	49	14	or	or	CCONJ
faba-284	49	15	investment	investment	NOUN
faba-284	49	16	over	over	ADP
faba-284	49	17	a	a	DET
faba-284	49	18	specific	specific	ADJ
faba-284	49	19	period	period	NOUN
faba-284	49	20	.	.	PUNCT
faba-284	50	1	it	it	PRON
faba-284	50	2	provides	provide	VERB
faba-284	50	3	a	a	DET
faba-284	50	4	measure	measure	NOUN
faba-284	50	5	of	of	ADP
faba-284	50	6	the	the	DET
faba-284	50	7	central	central	ADJ
faba-284	50	8	tendency	tendency	NOUN
faba-284	50	9	of	of	ADP
faba-284	50	10	the	the	DET
faba-284	50	11	data	datum	NOUN
faba-284	50	12	.	.	PUNCT
faba-284	51	1	investors	investor	NOUN
faba-284	51	2	and	and	CCONJ
faba-284	51	3	analysts	analyst	NOUN
faba-284	51	4	use	use	VERB
faba-284	51	5	the	the	DET
faba-284	51	6	mean	mean	ADJ
faba-284	51	7	return	return	NOUN
faba-284	51	8	to	to	PART
faba-284	51	9	assess	assess	VERB
faba-284	51	10	the	the	DET
faba-284	51	11	historical	historical	ADJ
faba-284	51	12	performance	performance	NOUN
faba-284	51	13	of	of	ADP
faba-284	51	14	an	an	DET
faba-284	51	15	investment	investment	NOUN
faba-284	51	16	or	or	CCONJ
faba-284	51	17	portfolio	portfolio	NOUN
faba-284	51	18	.	.	PUNCT
faba-284	52	1	it	it	PRON
faba-284	52	2	helps	help	VERB
faba-284	52	3	in	in	ADP
faba-284	52	4	understanding	understand	VERB
faba-284	52	5	the	the	DET
faba-284	52	6	average	average	ADJ
faba-284	52	7	gain	gain	NOUN
faba-284	52	8	or	or	CCONJ
faba-284	52	9	loss	loss	NOUN
faba-284	52	10	over	over	ADP
faba-284	52	11	a	a	DET
faba-284	52	12	given	give	VERB
faba-284	52	13	time	time	NOUN
faba-284	52	14	frame	frame	NOUN
faba-284	52	15	.	.	PUNCT
faba-284	53	1	in	in	ADP
faba-284	53	2	slr	slr	NOUN
faba-284	53	3	,	,	PUNCT
faba-284	53	4	the	the	DET
faba-284	53	5	mean	mean	NOUN
faba-284	53	6	is	be	AUX
faba-284	53	7	often	often	ADV
faba-284	53	8	used	use	VERB
faba-284	53	9	to	to	PART
faba-284	53	10	calculate	calculate	VERB
faba-284	53	11	the	the	DET
faba-284	53	12	average	average	ADJ
faba-284	53	13	values	value	NOUN
faba-284	53	14	of	of	ADP
faba-284	53	15	the	the	DET
faba-284	53	16	variables	variable	NOUN
faba-284	53	17	involved	involve	VERB
faba-284	53	18	.	.	PUNCT
faba-284	54	1	for	for	ADP
faba-284	54	2	instance	instance	NOUN
faba-284	54	3	,	,	PUNCT
faba-284	54	4	the	the	DET
faba-284	54	5	mean	mean	NOUN
faba-284	54	6	of	of	ADP
faba-284	54	7	the	the	DET
faba-284	54	8	independent	independent	ADJ
faba-284	54	9	variable	variable	NOUN
faba-284	54	10	x	x	PUNCT
faba-284	54	11	and	and	CCONJ
faba-284	54	12	the	the	DET
faba-284	54	13	mean	mean	NOUN
faba-284	54	14	of	of	ADP
faba-284	54	15	the	the	DET
faba-284	54	16	dependent	dependent	ADJ
faba-284	54	17	variable	variable	NOUN
faba-284	54	18	y	y	PROPN
faba-284	54	19	are	be	AUX
faba-284	54	20	crucial	crucial	ADJ
faba-284	54	21	in	in	ADP
faba-284	54	22	determining	determine	VERB
faba-284	54	23	the	the	DET
faba-284	54	24	coefficients	coefficient	NOUN
faba-284	54	25	of	of	ADP
faba-284	54	26	the	the	DET
faba-284	54	27	regression	regression	NOUN
faba-284	54	28	equation	equation	NOUN
faba-284	54	29	.	.	PUNCT
faba-284	55	1	𝑀𝑒𝑎𝑛(	𝑀𝑒𝑎𝑛(	NOUN
faba-284	55	2	�	�	PROPN
faba-284	55	3	̅	̅	NOUN
faba-284	55	4	�	�	NOUN
faba-284	55	5	)	)	PUNCT
faba-284	55	6	=	=	PUNCT
faba-284	55	7	∑	∑	PUNCT
faba-284	55	8	𝑥𝑛	𝑥𝑛	PROPN
faba-284	55	9	𝑖=1	𝑖=1	PROPN
faba-284	55	10	𝑛	𝑛	PROPN
faba-284	55	11	(	(	PUNCT
faba-284	55	12	3	3	NUM
faba-284	55	13	)	)	PUNCT
faba-284	55	14	where	where	SCONJ
faba-284	55	15	:	:	PUNCT
faba-284	55	16	𝑋	𝑋	PROPN
faba-284	55	17	−	−	PROPN
faba-284	55	18	variable	variable	ADJ
faba-284	55	19	value	value	NOUN
faba-284	55	20	𝑛	𝑛	DET
faba-284	55	21	−	−	NOUN
faba-284	55	22	number	number	NOUN
faba-284	55	23	of	of	ADP
faba-284	55	24	periods	period	NOUN
faba-284	55	25	variance	variance	NOUN
faba-284	55	26	measures	measure	NOUN
faba-284	55	27	the	the	DET
faba-284	55	28	dispersion	dispersion	NOUN
faba-284	55	29	or	or	CCONJ
faba-284	55	30	spread	spread	VERB
faba-284	55	31	of	of	ADP
faba-284	55	32	a	a	DET
faba-284	55	33	set	set	NOUN
faba-284	55	34	of	of	ADP
faba-284	55	35	financial	financial	ADJ
faba-284	55	36	returns	return	NOUN
faba-284	55	37	around	around	ADP
faba-284	55	38	the	the	DET
faba-284	55	39	mean	mean	NOUN
faba-284	55	40	.	.	PUNCT
faba-284	56	1	in	in	ADP
faba-284	56	2	finance	finance	NOUN
faba-284	56	3	,	,	PUNCT
faba-284	56	4	variance	variance	NOUN
faba-284	56	5	is	be	AUX
faba-284	56	6	used	use	VERB
faba-284	56	7	to	to	PART
faba-284	56	8	assess	assess	VERB
faba-284	56	9	the	the	DET
faba-284	56	10	volatility	volatility	NOUN
faba-284	56	11	or	or	CCONJ
faba-284	56	12	risk	risk	NOUN
faba-284	56	13	associated	associate	VERB
faba-284	56	14	with	with	ADP
faba-284	56	15	an	an	DET
faba-284	56	16	investment	investment	NOUN
faba-284	56	17	.	.	PUNCT
faba-284	57	1	a	a	DET
faba-284	57	2	higher	high	ADJ
faba-284	57	3	variance	variance	NOUN
faba-284	57	4	indicates	indicate	VERB
faba-284	57	5	greater	great	ADJ
faba-284	57	6	price	price	NOUN
faba-284	57	7	volatility	volatility	NOUN
faba-284	57	8	,	,	PUNCT
faba-284	57	9	which	which	PRON
faba-284	57	10	is	be	AUX
faba-284	57	11	often	often	ADV
faba-284	57	12	associated	associate	VERB
faba-284	57	13	with	with	ADP
faba-284	57	14	riskier	risky	ADJ
faba-284	57	15	investments	investment	NOUN
faba-284	57	16	.	.	PUNCT
faba-284	58	1	investors	investor	NOUN
faba-284	58	2	and	and	CCONJ
faba-284	58	3	portfolio	portfolio	NOUN
faba-284	58	4	managers	manager	NOUN
faba-284	58	5	use	use	VERB
faba-284	58	6	variance	variance	NOUN
faba-284	58	7	to	to	PART
faba-284	58	8	understand	understand	VERB
faba-284	58	9	the	the	DET
faba-284	58	10	potential	potential	ADJ
faba-284	58	11	fluctuations	fluctuation	NOUN
faba-284	58	12	in	in	ADP
faba-284	58	13	the	the	DET
faba-284	58	14	value	value	NOUN
faba-284	58	15	of	of	ADP
faba-284	58	16	an	an	DET
faba-284	58	17	asset	asset	NOUN
faba-284	58	18	.	.	PUNCT
faba-284	59	1	in	in	ADP
faba-284	59	2	slr	slr	X
faba-284	59	3	,	,	PUNCT
faba-284	59	4	it	it	PRON
faba-284	59	5	helps	help	VERB
faba-284	59	6	assess	assess	VERB
faba-284	59	7	how	how	SCONJ
faba-284	59	8	much	much	ADJ
faba-284	59	9	individual	individual	ADJ
faba-284	59	10	data	datum	NOUN
faba-284	59	11	points	point	NOUN
faba-284	59	12	deviate	deviate	VERB
faba-284	59	13	from	from	ADP
faba-284	59	14	the	the	DET
faba-284	59	15	mean	mean	NOUN
faba-284	59	16	of	of	ADP
faba-284	59	17	the	the	DET
faba-284	59	18	dependent	dependent	ADJ
faba-284	59	19	variable	variable	NOUN
faba-284	59	20	.	.	PUNCT
faba-284	60	1	𝑉𝑎𝑟𝑖𝑎𝑛𝑐𝑒(𝑋	𝑉𝑎𝑟𝑖𝑎𝑛𝑐𝑒(𝑋	ADJ
faba-284	60	2	)	)	PUNCT
faba-284	60	3	=	=	PUNCT
faba-284	60	4	∑	∑	PUNCT
faba-284	60	5	(	(	PUNCT
faba-284	60	6	𝑋𝑖	𝑋𝑖	PROPN
faba-284	60	7	−	−	PROPN
faba-284	60	8	�	�	PROPN
faba-284	60	9	̅	̅	NOUN
faba-284	60	10	�	�	NUM
faba-284	60	11	)𝑛	)𝑛	PUNCT
faba-284	60	12	𝑖=1	𝑖=1	PROPN
faba-284	61	1	𝑛	𝑛	DET
faba-284	61	2	−	−	NUM
faba-284	61	3	1	1	NUM
faba-284	61	4	(	(	PUNCT
faba-284	61	5	4	4	NUM
faba-284	61	6	)	)	PUNCT
faba-284	61	7	alejandro	alejandro	PROPN
faba-284	61	8	rabinovich	rabinovich	PROPN
faba-284	61	9	/	/	SYM
faba-284	61	10	finance	finance	NOUN
faba-284	61	11	,	,	PUNCT
faba-284	61	12	accounting	accounting	NOUN
faba-284	61	13	and	and	CCONJ
faba-284	61	14	business	business	NOUN
faba-284	61	15	analysis	analysis	NOUN
faba-284	61	16	,	,	PUNCT
faba-284	61	17	volume	volume	NOUN
faba-284	61	18	7	7	NUM
faba-284	61	19	,	,	PUNCT
faba-284	61	20	issue	issue	NOUN
faba-284	61	21	2	2	NUM
faba-284	61	22	,	,	PUNCT
faba-284	61	23	2025	2025	NUM
faba-284	61	24	253	253	NUM
faba-284	61	25	where	where	SCONJ
faba-284	61	26	:	:	PUNCT
faba-284	61	27	�	�	PROPN
faba-284	61	28	̅	̅	NOUN
faba-284	61	29	�	�	NOUN
faba-284	61	30	−	−	PROPN
faba-284	61	31	variable	variable	NOUN
faba-284	61	32	mean	mean	VERB
faba-284	61	33	𝑋𝑖	𝑋𝑖	PROPN
faba-284	61	34	−	−	PROPN
faba-284	61	35	variable	variable	ADJ
faba-284	61	36	value	value	NOUN
faba-284	61	37	𝑛	𝑛	DET
faba-284	61	38	−	−	NOUN
faba-284	61	39	number	number	NOUN
faba-284	61	40	of	of	ADP
faba-284	61	41	periods	period	NOUN
faba-284	61	42	standard	standard	ADJ
faba-284	61	43	deviation	deviation	NOUN
faba-284	61	44	is	be	AUX
faba-284	61	45	closely	closely	ADV
faba-284	61	46	related	relate	VERB
faba-284	61	47	to	to	PART
faba-284	61	48	variance	variance	VERB
faba-284	61	49	and	and	CCONJ
faba-284	61	50	is	be	AUX
faba-284	61	51	another	another	DET
faba-284	61	52	measure	measure	NOUN
faba-284	61	53	of	of	ADP
faba-284	61	54	the	the	DET
faba-284	61	55	risk	risk	NOUN
faba-284	61	56	or	or	CCONJ
faba-284	61	57	volatility	volatility	NOUN
faba-284	61	58	of	of	ADP
faba-284	61	59	a	a	DET
faba-284	61	60	financial	financial	ADJ
faba-284	61	61	asset	asset	NOUN
faba-284	61	62	.	.	PUNCT
faba-284	62	1	it	it	PRON
faba-284	62	2	is	be	AUX
faba-284	62	3	often	often	ADV
faba-284	62	4	preferred	prefer	VERB
faba-284	62	5	over	over	ADP
faba-284	62	6	variance	variance	NOUN
faba-284	62	7	because	because	SCONJ
faba-284	62	8	it	it	PRON
faba-284	62	9	is	be	AUX
faba-284	62	10	expressed	express	VERB
faba-284	62	11	in	in	ADP
faba-284	62	12	the	the	DET
faba-284	62	13	same	same	ADJ
faba-284	62	14	units	unit	NOUN
faba-284	62	15	as	as	ADP
faba-284	62	16	the	the	DET
faba-284	62	17	original	original	ADJ
faba-284	62	18	data	datum	NOUN
faba-284	62	19	.	.	PUNCT
faba-284	63	1	investors	investor	NOUN
faba-284	63	2	and	and	CCONJ
faba-284	63	3	analysts	analyst	NOUN
faba-284	63	4	use	use	VERB
faba-284	63	5	standard	standard	ADJ
faba-284	63	6	deviation	deviation	NOUN
faba-284	63	7	to	to	PART
faba-284	63	8	quantify	quantify	VERB
faba-284	63	9	the	the	DET
faba-284	63	10	degree	degree	NOUN
faba-284	63	11	of	of	ADP
faba-284	63	12	uncertainty	uncertainty	NOUN
faba-284	63	13	or	or	CCONJ
faba-284	63	14	risk	risk	NOUN
faba-284	63	15	associated	associate	VERB
faba-284	63	16	with	with	ADP
faba-284	63	17	an	an	DET
faba-284	63	18	investment	investment	NOUN
faba-284	63	19	.	.	PUNCT
faba-284	64	1	a	a	DET
faba-284	64	2	higher	high	ADJ
faba-284	64	3	standard	standard	ADJ
faba-284	64	4	deviation	deviation	NOUN
faba-284	64	5	implies	imply	VERB
faba-284	64	6	higher	high	ADJ
faba-284	64	7	risk	risk	NOUN
faba-284	64	8	.	.	PUNCT
faba-284	65	1	𝑆𝑡𝑎𝑛𝑑𝑎𝑟𝑑	𝑆𝑡𝑎𝑛𝑑𝑎𝑟𝑑	PROPN
faba-284	65	2	𝐷𝑒𝑣𝑖𝑎𝑡𝑖𝑜𝑛	𝐷𝑒𝑣𝑖𝑎𝑡𝑖𝑜𝑛	PROPN
faba-284	65	3	(	(	PUNCT
faba-284	65	4	𝑋	𝑋	PROPN
faba-284	65	5	)	)	PUNCT
faba-284	65	6	=	=	SYM
faba-284	65	7	√𝑉𝑎𝑟(𝑋	√𝑉𝑎𝑟(𝑋	PROPN
faba-284	65	8	)	)	PUNCT
faba-284	65	9	(	(	PUNCT
faba-284	65	10	5	5	NUM
faba-284	65	11	)	)	PUNCT
faba-284	65	12	where	where	SCONJ
faba-284	65	13	:	:	PUNCT
faba-284	65	14	𝑉𝑎𝑟(𝑋	𝑉𝑎𝑟(𝑋	NUM
faba-284	65	15	)	)	PUNCT
faba-284	65	16	−	−	NOUN
faba-284	65	17	variance	variance	NOUN
faba-284	65	18	hypothesis	hypothesis	NOUN
faba-284	65	19	testing	testing	NOUN
faba-284	65	20	in	in	ADP
faba-284	65	21	regression	regression	NOUN
faba-284	65	22	analysis	analysis	NOUN
faba-284	65	23	,	,	PUNCT
faba-284	65	24	statistical	statistical	ADJ
faba-284	65	25	hypothesis	hypothesis	NOUN
faba-284	65	26	testing	testing	NOUN
faba-284	65	27	is	be	AUX
faba-284	65	28	often	often	ADV
faba-284	65	29	used	use	VERB
faba-284	65	30	to	to	PART
faba-284	65	31	assess	assess	VERB
faba-284	65	32	the	the	DET
faba-284	65	33	significance	significance	NOUN
faba-284	65	34	of	of	ADP
faba-284	65	35	the	the	DET
faba-284	65	36	regression	regression	NOUN
faba-284	65	37	coefficients	coefficient	NOUN
faba-284	65	38	,	,	PUNCT
faba-284	65	39	including	include	VERB
faba-284	65	40	the	the	DET
faba-284	65	41	intercept	intercept	NOUN
faba-284	65	42	𝛼and	𝛼and	NOUN
faba-284	65	43	the	the	DET
faba-284	65	44	slope	slope	NOUN
faba-284	65	45	𝛽0	𝛽0	PROPN
faba-284	65	46	.	.	PUNCT
faba-284	66	1	the	the	DET
faba-284	66	2	significance	significance	NOUN
faba-284	66	3	of	of	ADP
faba-284	66	4	these	these	DET
faba-284	66	5	coefficients	coefficient	NOUN
faba-284	66	6	is	be	AUX
faba-284	66	7	tested	test	VERB
faba-284	66	8	using	use	VERB
faba-284	66	9	the	the	DET
faba-284	66	10	t	t	NOUN
faba-284	66	11	-	-	PUNCT
faba-284	66	12	statistic	statistic	NOUN
faba-284	66	13	and	and	CCONJ
faba-284	66	14	the	the	DET
faba-284	66	15	associated	associated	ADJ
faba-284	66	16	p	p	NOUN
faba-284	66	17	-	-	PUNCT
faba-284	66	18	value	value	NOUN
faba-284	66	19	.	.	PUNCT
faba-284	67	1	the	the	DET
faba-284	67	2	null	null	ADJ
faba-284	67	3	hypothesis	hypothesis	NOUN
faba-284	67	4	𝐻0	𝐻0	NOUN
faba-284	67	5	typically	typically	ADV
faba-284	67	6	states	state	VERB
faba-284	67	7	that	that	SCONJ
faba-284	67	8	the	the	DET
faba-284	67	9	coefficient	coefficient	NOUN
faba-284	67	10	is	be	AUX
faba-284	67	11	equal	equal	ADJ
faba-284	67	12	to	to	ADP
faba-284	67	13	zero	zero	NUM
faba-284	67	14	,	,	PUNCT
faba-284	67	15	implying	imply	VERB
faba-284	67	16	no	no	DET
faba-284	67	17	effect	effect	NOUN
faba-284	67	18	,	,	PUNCT
faba-284	67	19	while	while	SCONJ
faba-284	67	20	the	the	DET
faba-284	67	21	alternative	alternative	ADJ
faba-284	67	22	hypothesis	hypothesis	NOUN
faba-284	67	23	𝐻𝑎	𝐻𝑎	PROPN
faba-284	67	24	suggests	suggest	VERB
faba-284	67	25	that	that	SCONJ
faba-284	67	26	the	the	DET
faba-284	67	27	coefficient	coefficient	NOUN
faba-284	67	28	is	be	AUX
faba-284	67	29	different	different	ADJ
faba-284	67	30	from	from	ADP
faba-284	67	31	zero	zero	NUM
faba-284	67	32	.	.	PUNCT
faba-284	68	1	the	the	DET
faba-284	68	2	procedure	procedure	NOUN
faba-284	68	3	for	for	ADP
faba-284	68	4	hypothesis	hypothesis	NOUN
faba-284	68	5	testing	testing	NOUN
faba-284	68	6	is	be	AUX
faba-284	68	7	as	as	SCONJ
faba-284	68	8	follows	follow	VERB
faba-284	68	9	.	.	PUNCT
faba-284	69	1	the	the	DET
faba-284	69	2	first	first	ADJ
faba-284	69	3	step	step	NOUN
faba-284	69	4	is	be	AUX
faba-284	69	5	defining	define	VERB
faba-284	69	6	the	the	DET
faba-284	69	7	hypotheses	hypothesis	NOUN
faba-284	69	8	.	.	PUNCT
faba-284	70	1	the	the	DET
faba-284	70	2	null	null	ADJ
faba-284	70	3	hypothesis	hypothesis	NOUN
faba-284	70	4	is	be	AUX
faba-284	70	5	the	the	DET
faba-284	70	6	value	value	NOUN
faba-284	70	7	assumed	assume	VERB
faba-284	70	8	to	to	PART
faba-284	70	9	be	be	AUX
faba-284	70	10	true	true	ADJ
faba-284	70	11	and	and	CCONJ
faba-284	70	12	tested	test	VERB
faba-284	70	13	for	for	ADP
faba-284	70	14	validity	validity	NOUN
faba-284	70	15	.	.	PUNCT
faba-284	71	1	in	in	ADP
faba-284	71	2	this	this	DET
faba-284	71	3	case	case	NOUN
faba-284	71	4	,	,	PUNCT
faba-284	71	5	the	the	DET
faba-284	71	6	assumption	assumption	NOUN
faba-284	71	7	is	be	AUX
faba-284	71	8	that	that	SCONJ
faba-284	71	9	the	the	DET
faba-284	71	10	strategy	strategy	NOUN
faba-284	71	11	returns	return	NOUN
faba-284	71	12	are	be	AUX
faba-284	71	13	similar	similar	ADJ
faba-284	71	14	to	to	ADP
faba-284	71	15	the	the	DET
faba-284	71	16	benchmark	benchmark	NOUN
faba-284	71	17	,	,	PUNCT
faba-284	71	18	𝐻0	𝐻0	PROPN
faba-284	71	19	:	:	PUNCT
faba-284	71	20	𝛼	𝛼	X
faba-284	71	21	=	=	SYM
faba-284	71	22	0	0	NUM
faba-284	71	23	.	.	PUNCT
faba-284	72	1	the	the	DET
faba-284	72	2	alternative	alternative	ADJ
faba-284	72	3	hypothesis	hypothesis	NOUN
faba-284	72	4	is	be	AUX
faba-284	72	5	everything	everything	PRON
faba-284	72	6	that	that	PRON
faba-284	72	7	is	be	AUX
faba-284	72	8	not	not	PART
faba-284	72	9	the	the	DET
faba-284	72	10	null	null	NOUN
faba-284	72	11	;	;	PUNCT
faba-284	72	12	here	here	ADV
faba-284	72	13	,	,	PUNCT
faba-284	72	14	that	that	SCONJ
faba-284	72	15	the	the	DET
faba-284	72	16	strategy	strategy	NOUN
faba-284	72	17	returns	return	NOUN
faba-284	72	18	are	be	AUX
faba-284	72	19	different	different	ADJ
faba-284	72	20	from	from	ADP
faba-284	72	21	the	the	DET
faba-284	72	22	benchmark	benchmark	NOUN
faba-284	72	23	’s	’s	PART
faba-284	72	24	,	,	PUNCT
faba-284	72	25	𝐻𝑎	𝐻𝑎	PROPN
faba-284	72	26	:	:	PUNCT
faba-284	72	27	𝛼	𝛼	PROPN
faba-284	72	28	≠	≠	PROPN
faba-284	72	29	0	0	NUM
faba-284	72	30	.	.	PUNCT
faba-284	73	1	the	the	DET
faba-284	73	2	second	second	ADJ
faba-284	73	3	step	step	NOUN
faba-284	73	4	is	be	AUX
faba-284	73	5	calculating	calculate	VERB
faba-284	73	6	the	the	DET
faba-284	73	7	statistics	statistic	NOUN
faba-284	73	8	for	for	ADP
faba-284	73	9	the	the	DET
faba-284	73	10	test	test	NOUN
faba-284	73	11	and	and	CCONJ
faba-284	73	12	the	the	DET
faba-284	73	13	corresponding	correspond	VERB
faba-284	73	14	p	p	NOUN
faba-284	73	15	-	-	PUNCT
faba-284	73	16	value	value	NOUN
faba-284	73	17	.	.	PUNCT
faba-284	74	1	a	a	DET
faba-284	74	2	generic	generic	ADJ
faba-284	74	3	test	test	NOUN
faba-284	74	4	of	of	ADP
faba-284	74	5	whether	whether	SCONJ
faba-284	74	6	a	a	DET
faba-284	74	7	sample	sample	NOUN
faba-284	74	8	mean	mean	NOUN
faba-284	74	9	differs	differ	VERB
faba-284	74	10	from	from	ADP
faba-284	74	11	a	a	DET
faba-284	74	12	hypothesized	hypothesized	ADJ
faba-284	74	13	population	population	NOUN
faba-284	74	14	mean	mean	VERB
faba-284	74	15	can	can	AUX
faba-284	74	16	be	be	AUX
faba-284	74	17	written	write	VERB
faba-284	74	18	as	as	ADP
faba-284	74	19	:	:	PUNCT
faba-284	74	20	𝑍	𝑍	PROPN
faba-284	74	21	=	=	SYM
faba-284	74	22	�	�	NOUN
faba-284	74	23	̅	̅	NOUN
faba-284	74	24	�	�	NOUN
faba-284	74	25	−	−	PROPN
faba-284	74	26	𝜇	𝜇	ADP
faba-284	74	27	𝜎	𝜎	PROPN
faba-284	74	28	√𝑛⁄	√𝑛⁄	X
faba-284	74	29	(	(	PUNCT
faba-284	74	30	6	6	NUM
faba-284	74	31	)	)	PUNCT
faba-284	74	32	where	where	SCONJ
faba-284	74	33	:	:	PUNCT
faba-284	74	34	�	�	PROPN
faba-284	74	35	̅	̅	NOUN
faba-284	74	36	�	�	NOUN
faba-284	74	37	−	−	PROPN
faba-284	74	38	sample	sample	NOUN
faba-284	74	39	mean	mean	VERB
faba-284	74	40	𝜇	𝜇	ADP
faba-284	74	41	−	−	PROPN
faba-284	75	1	population	population	NOUN
faba-284	75	2	mean	mean	VERB
faba-284	75	3	𝜎	𝜎	PROPN
faba-284	76	1	−	−	PROPN
faba-284	76	2	standard	standard	ADJ
faba-284	76	3	deviation	deviation	NOUN
faba-284	76	4	𝑛	𝑛	DET
faba-284	76	5	−	−	NOUN
faba-284	76	6	number	number	NOUN
faba-284	76	7	of	of	ADP
faba-284	76	8	samples	sample	NOUN
faba-284	76	9	the	the	DET
faba-284	76	10	p	p	ADJ
faba-284	76	11	-	-	PUNCT
faba-284	76	12	value	value	NOUN
faba-284	76	13	associated	associate	VERB
faba-284	76	14	with	with	ADP
faba-284	76	15	the	the	DET
faba-284	76	16	t	t	NOUN
faba-284	76	17	-	-	PUNCT
faba-284	76	18	statistic	statistic	NOUN
faba-284	76	19	(	(	PUNCT
faba-284	76	20	or	or	CCONJ
faba-284	76	21	z	z	NOUN
faba-284	76	22	-	-	NOUN
faba-284	76	23	statistic	statistic	NOUN
faba-284	76	24	in	in	ADP
faba-284	76	25	large	large	ADJ
faba-284	76	26	samples	sample	NOUN
faba-284	76	27	)	)	PUNCT
faba-284	76	28	is	be	AUX
faba-284	76	29	then	then	ADV
faba-284	76	30	used	use	VERB
faba-284	76	31	to	to	PART
faba-284	76	32	assess	assess	VERB
faba-284	76	33	the	the	DET
faba-284	76	34	statistical	statistical	ADJ
faba-284	76	35	significance	significance	NOUN
faba-284	76	36	of	of	ADP
faba-284	76	37	the	the	DET
faba-284	76	38	coefficient	coefficient	NOUN
faba-284	76	39	.	.	PUNCT
faba-284	77	1	a	a	DET
faba-284	77	2	low	low	ADJ
faba-284	77	3	p	p	NOUN
faba-284	77	4	-	-	PUNCT
faba-284	77	5	value	value	NOUN
faba-284	77	6	,	,	PUNCT
faba-284	77	7	below	below	ADP
faba-284	77	8	the	the	DET
faba-284	77	9	chosen	choose	VERB
faba-284	77	10	significance	significance	NOUN
faba-284	77	11	level	level	NOUN
faba-284	77	12	,	,	PUNCT
faba-284	77	13	indicates	indicate	VERB
faba-284	77	14	that	that	SCONJ
faba-284	77	15	the	the	DET
faba-284	77	16	coefficient	coefficient	NOUN
faba-284	77	17	is	be	AUX
faba-284	77	18	statistically	statistically	ADV
faba-284	77	19	significant	significant	ADJ
faba-284	77	20	.	.	PUNCT
faba-284	78	1	in	in	ADP
faba-284	78	2	this	this	DET
faba-284	78	3	study	study	NOUN
faba-284	78	4	,	,	PUNCT
faba-284	78	5	we	we	PRON
faba-284	78	6	adopt	adopt	VERB
faba-284	78	7	the	the	DET
faba-284	78	8	conventional	conventional	ADJ
faba-284	78	9	5	5	NUM
faba-284	78	10	%	%	NOUN
faba-284	78	11	significance	significance	NOUN
faba-284	78	12	level	level	NOUN
faba-284	78	13	(	(	PUNCT
faba-284	78	14	𝛼	𝛼	X
faba-284	78	15	=	=	NOUN
faba-284	78	16	0.05	0.05	NUM
faba-284	78	17	)	)	PUNCT
faba-284	78	18	for	for	ADP
faba-284	78	19	two	two	NUM
faba-284	78	20	-	-	PUNCT
faba-284	78	21	sided	sided	ADJ
faba-284	78	22	tests	test	NOUN
faba-284	78	23	.	.	PUNCT
faba-284	79	1	coefficients	coefficient	NOUN
faba-284	79	2	with	with	ADP
faba-284	79	3	p	p	NOUN
faba-284	79	4	-	-	PUNCT
faba-284	79	5	values	value	NOUN
faba-284	79	6	below	below	ADP
faba-284	79	7	5	5	NUM
faba-284	79	8	%	%	NOUN
faba-284	79	9	are	be	AUX
faba-284	79	10	therefore	therefore	ADV
faba-284	79	11	regarded	regard	VERB
faba-284	79	12	as	as	ADP
faba-284	79	13	statistically	statistically	ADV
faba-284	79	14	significant	significant	ADJ
faba-284	79	15	.	.	PUNCT
faba-284	80	1	the	the	DET
faba-284	80	2	2.5	2.5	NUM
faba-284	80	3	%	%	NOUN
faba-284	80	4	figure	figure	NOUN
faba-284	80	5	referred	refer	VERB
faba-284	80	6	to	to	ADP
faba-284	80	7	in	in	ADP
faba-284	80	8	the	the	DET
faba-284	80	9	analysis	analysis	NOUN
faba-284	80	10	corresponds	correspond	VERB
faba-284	80	11	to	to	ADP
faba-284	80	12	the	the	DET
faba-284	80	13	per	per	ADP
faba-284	80	14	-	-	PUNCT
faba-284	80	15	tail	tail	NOUN
faba-284	80	16	critical	critical	ADJ
faba-284	80	17	region	region	NOUN
faba-284	80	18	(	(	PUNCT
faba-284	80	19	𝛼/2	𝛼/2	NUM
faba-284	80	20	)	)	PUNCT
faba-284	80	21	of	of	ADP
faba-284	80	22	a	a	DET
faba-284	80	23	two	two	NUM
faba-284	80	24	-	-	PUNCT
faba-284	80	25	tailed	tail	VERB
faba-284	80	26	test	test	NOUN
faba-284	80	27	at	at	ADP
faba-284	80	28	the	the	DET
faba-284	80	29	5	5	NUM
faba-284	80	30	%	%	NOUN
faba-284	80	31	level	level	NOUN
faba-284	80	32	,	,	PUNCT
faba-284	80	33	and	and	CCONJ
faba-284	80	34	reflects	reflect	VERB
faba-284	80	35	the	the	DET
faba-284	80	36	fact	fact	NOUN
faba-284	80	37	that	that	SCONJ
faba-284	80	38	many	many	ADJ
faba-284	80	39	of	of	ADP
faba-284	80	40	the	the	DET
faba-284	80	41	estimated	estimate	VERB
faba-284	80	42	p	p	NOUN
faba-284	80	43	-	-	PUNCT
faba-284	80	44	values	value	NOUN
faba-284	80	45	are	be	AUX
faba-284	80	46	substantially	substantially	ADV
faba-284	80	47	smaller	small	ADJ
faba-284	80	48	than	than	ADP
faba-284	80	49	5	5	NUM
faba-284	80	50	%	%	NOUN
faba-284	80	51	,	,	PUNCT
faba-284	80	52	indicating	indicate	VERB
faba-284	80	53	particularly	particularly	ADV
faba-284	80	54	strong	strong	ADJ
faba-284	80	55	evidence	evidence	NOUN
faba-284	80	56	against	against	ADP
faba-284	80	57	the	the	DET
faba-284	80	58	null	null	ADJ
faba-284	80	59	hypothesis	hypothesis	NOUN
faba-284	80	60	.	.	PUNCT
faba-284	81	1	a	a	DET
faba-284	81	2	similar	similar	ADJ
faba-284	81	3	logic	logic	NOUN
faba-284	81	4	applies	apply	VERB
faba-284	81	5	when	when	SCONJ
faba-284	81	6	working	work	VERB
faba-284	81	7	with	with	ADP
faba-284	81	8	proportions	proportion	NOUN
faba-284	81	9	,	,	PUNCT
faba-284	81	10	where	where	SCONJ
faba-284	81	11	a	a	DET
faba-284	81	12	generic	generic	ADJ
faba-284	81	13	z	z	NOUN
faba-284	81	14	-	-	PUNCT
faba-284	81	15	test	test	NOUN
faba-284	81	16	can	can	AUX
faba-284	81	17	be	be	AUX
faba-284	81	18	written	write	VERB
faba-284	81	19	as	as	ADP
faba-284	81	20	:	:	PUNCT
faba-284	81	21	𝑍	𝑍	PROPN
faba-284	81	22	=	=	SYM
faba-284	81	23	�	�	PROPN
faba-284	81	24	̂	̂	NOUN
faba-284	81	25	�	�	NOUN
faba-284	81	26	−	−	NOUN
faba-284	81	27	𝑝0	𝑝0	NOUN
faba-284	81	28	√𝑝0(1	√𝑝0(1	PROPN
faba-284	81	29	−	−	PROPN
faba-284	81	30	𝑝0	𝑝0	PROPN
faba-284	81	31	)	)	PUNCT
faba-284	81	32	𝑛	𝑛	PROPN
faba-284	81	33	(	(	PUNCT
faba-284	81	34	7	7	NUM
faba-284	81	35	)	)	PUNCT
faba-284	81	36	where	where	SCONJ
faba-284	81	37	:	:	PUNCT
faba-284	81	38	�	�	PROPN
faba-284	81	39	̂	̂	SYM
faba-284	81	40	�	�	NOUN
faba-284	81	41	−	−	PROPN
faba-284	81	42	sample	sample	NOUN
faba-284	81	43	proportion	proportion	NOUN
faba-284	81	44	𝑝0	𝑝0	PROPN
faba-284	81	45	−	−	PROPN
faba-284	81	46	assumed	assume	VERB
faba-284	81	47	population	population	NOUN
faba-284	81	48	proportion	proportion	NOUN
faba-284	81	49	in	in	ADP
faba-284	81	50	the	the	DET
faba-284	81	51	null	null	ADJ
faba-284	81	52	hypothesis	hypothesis	NOUN
faba-284	81	53	the	the	DET
faba-284	81	54	third	third	ADJ
faba-284	81	55	step	step	NOUN
faba-284	81	56	is	be	AUX
faba-284	81	57	establishing	establish	VERB
faba-284	81	58	the	the	DET
faba-284	81	59	critical	critical	ADJ
faba-284	81	60	values	value	NOUN
faba-284	81	61	and	and	CCONJ
faba-284	81	62	rejection	rejection	NOUN
faba-284	81	63	zones	zone	NOUN
faba-284	81	64	of	of	ADP
faba-284	81	65	𝐻0	𝐻0	PROPN
faba-284	81	66	,	,	PUNCT
faba-284	81	67	taking	take	VERB
faba-284	81	68	into	into	ADP
faba-284	81	69	consideration	consideration	NOUN
faba-284	81	70	type	type	NOUN
faba-284	81	71	i	i	PRON
faba-284	81	72	and	and	CCONJ
faba-284	81	73	type	type	NOUN
faba-284	81	74	ii	ii	NOUN
faba-284	81	75	errors	error	NOUN
faba-284	81	76	.	.	PUNCT
faba-284	82	1	type	type	NOUN
faba-284	82	2	i	i	PRON
faba-284	82	3	error	error	NOUN
faba-284	82	4	is	be	AUX
faba-284	82	5	the	the	DET
faba-284	82	6	incorrect	incorrect	ADJ
faba-284	82	7	rejection	rejection	NOUN
faba-284	82	8	of	of	ADP
faba-284	82	9	a	a	DET
faba-284	82	10	true	true	ADJ
faba-284	82	11	𝐻0(false	𝐻0(false	ADJ
faba-284	82	12	positive	positive	ADJ
faba-284	82	13	)	)	PUNCT
faba-284	82	14	,	,	PUNCT
faba-284	82	15	and	and	CCONJ
faba-284	82	16	type	type	NOUN
faba-284	82	17	ii	ii	NOUN
faba-284	82	18	error	error	NOUN
faba-284	82	19	is	be	AUX
faba-284	82	20	the	the	DET
faba-284	82	21	probability	probability	NOUN
faba-284	82	22	of	of	ADP
faba-284	82	23	incorrectly	incorrectly	ADV
faba-284	82	24	retaining	retain	VERB
faba-284	82	25	𝐻0when	𝐻0when	NOUN
faba-284	82	26	it	it	PRON
faba-284	82	27	does	do	AUX
faba-284	82	28	not	not	PART
faba-284	82	29	hold	hold	VERB
faba-284	82	30	for	for	ADP
faba-284	82	31	the	the	DET
faba-284	82	32	population	population	NOUN
faba-284	82	33	(	(	PUNCT
faba-284	82	34	false	false	ADJ
faba-284	82	35	negative	negative	NOUN
faba-284	82	36	)	)	PUNCT
faba-284	82	37	.	.	PUNCT
faba-284	83	1	in	in	ADP
faba-284	83	2	the	the	DET
faba-284	83	3	current	current	ADJ
faba-284	83	4	case	case	NOUN
faba-284	83	5	,	,	PUNCT
faba-284	83	6	the	the	DET
faba-284	83	7	significance	significance	NOUN
faba-284	83	8	level	level	NOUN
faba-284	83	9	𝛼	𝛼	PROPN
faba-284	83	10	has	have	AUX
faba-284	83	11	been	be	AUX
faba-284	83	12	set	set	VERB
faba-284	83	13	at	at	ADP
faba-284	83	14	5	5	NUM
faba-284	83	15	%	%	NOUN
faba-284	83	16	,	,	PUNCT
faba-284	83	17	and	and	CCONJ
faba-284	83	18	since	since	SCONJ
faba-284	83	19	it	it	PRON
faba-284	83	20	is	be	AUX
faba-284	83	21	a	a	DET
faba-284	83	22	two	two	NUM
faba-284	83	23	-	-	PUNCT
faba-284	83	24	tailed	tail	VERB
faba-284	83	25	test	test	NOUN
faba-284	83	26	,	,	PUNCT
faba-284	83	27	the	the	DET
faba-284	83	28	critical	critical	ADJ
faba-284	83	29	region	region	NOUN
faba-284	83	30	in	in	ADP
faba-284	83	31	alejandro	alejandro	PROPN
faba-284	83	32	rabinovich	rabinovich	PROPN
faba-284	83	33	/	/	SYM
faba-284	83	34	finance	finance	NOUN
faba-284	83	35	,	,	PUNCT
faba-284	83	36	accounting	accounting	NOUN
faba-284	83	37	and	and	CCONJ
faba-284	83	38	business	business	NOUN
faba-284	83	39	analysis	analysis	NOUN
faba-284	83	40	,	,	PUNCT
faba-284	83	41	volume	volume	NOUN
faba-284	83	42	7	7	NUM
faba-284	83	43	,	,	PUNCT
faba-284	83	44	issue	issue	NOUN
faba-284	83	45	2	2	NUM
faba-284	83	46	,	,	PUNCT
faba-284	83	47	2025	2025	NUM
faba-284	83	48	254	254	NUM
faba-284	83	49	each	each	DET
faba-284	83	50	tail	tail	NOUN
faba-284	83	51	is	be	AUX
faba-284	83	52	𝛼/2	𝛼/2	NUM
faba-284	83	53	=	=	SYM
faba-284	83	54	2.5	2.5	NUM
faba-284	83	55	%	%	NOUN
faba-284	83	56	.	.	PUNCT
faba-284	84	1	source	source	NOUN
faba-284	84	2	:	:	PUNCT
faba-284	84	3	cfa	cfa	PROPN
faba-284	84	4	2023	2023	NUM
faba-284	84	5	,	,	PUNCT
faba-284	84	6	level	level	NOUN
faba-284	84	7	1	1	NUM
faba-284	84	8	,	,	PUNCT
faba-284	84	9	volume	volume	NOUN
faba-284	84	10	1	1	NUM
faba-284	84	11	quantitative	quantitative	ADJ
faba-284	84	12	methods	method	NOUN
faba-284	84	13	figure	figure	VERB
faba-284	84	14	1	1	NUM
faba-284	84	15	.	.	PUNCT
faba-284	84	16	null	null	ADJ
faba-284	84	17	hypothesis	hypothesis	NOUN
faba-284	84	18	rejection	rejection	NOUN
faba-284	84	19	the	the	DET
faba-284	84	20	fourth	fourth	ADJ
faba-284	84	21	and	and	CCONJ
faba-284	84	22	final	final	ADJ
faba-284	84	23	step	step	NOUN
faba-284	84	24	is	be	AUX
faba-284	84	25	taking	take	VERB
faba-284	84	26	a	a	DET
faba-284	84	27	decision	decision	NOUN
faba-284	84	28	based	base	VERB
faba-284	84	29	on	on	ADP
faba-284	84	30	the	the	DET
faba-284	84	31	results	result	NOUN
faba-284	84	32	.	.	PUNCT
faba-284	85	1	the	the	DET
faba-284	85	2	critical	critical	ADJ
faba-284	85	3	value	value	NOUN
faba-284	85	4	for	for	ADP
faba-284	85	5	rejecting	reject	VERB
faba-284	85	6	𝐻0	𝐻0	NOUN
faba-284	85	7	will	will	AUX
faba-284	85	8	be	be	AUX
faba-284	85	9	all	all	DET
faba-284	85	10	those	those	DET
faba-284	85	11	observations	observation	NOUN
faba-284	85	12	of	of	ADP
faba-284	85	13	the	the	DET
faba-284	85	14	intercept	intercept	NOUN
faba-284	85	15	that	that	PRON
faba-284	85	16	are	be	AUX
faba-284	85	17	in	in	ADP
faba-284	85	18	excess	excess	NOUN
faba-284	85	19	of	of	ADP
faba-284	85	20	approximately	approximately	ADV
faba-284	85	21	two	two	NUM
faba-284	85	22	standard	standard	ADJ
faba-284	85	23	deviations	deviation	NOUN
faba-284	85	24	from	from	ADP
faba-284	85	25	zero	zero	NUM
faba-284	85	26	(	(	PUNCT
faba-284	85	27	i.e.	i.e.	X
faba-284	85	28	∣	∣	ADJ
faba-284	85	29	𝑡	𝑡	PROPN
faba-284	85	30	∣	∣	NOUN
faba-284	85	31	>	>	X
faba-284	85	32	1.96	1.96	NUM
faba-284	85	33	for	for	ADP
faba-284	85	34	large	large	ADJ
faba-284	85	35	samples	sample	NOUN
faba-284	85	36	)	)	PUNCT
faba-284	85	37	(	(	PUNCT
faba-284	85	38	drake	drake	NOUN
faba-284	85	39	2023a	2023a	NUM
faba-284	85	40	)	)	PUNCT
faba-284	85	41	.	.	PUNCT
faba-284	86	1	the	the	DET
faba-284	86	2	pvalue	pvalue	NOUN
faba-284	86	3	is	be	AUX
faba-284	86	4	used	use	VERB
faba-284	86	5	as	as	ADP
faba-284	86	6	an	an	DET
faba-284	86	7	additional	additional	ADJ
faba-284	86	8	means	mean	NOUN
faba-284	86	9	of	of	ADP
faba-284	86	10	confirmation	confirmation	NOUN
faba-284	86	11	of	of	ADP
faba-284	86	12	this	this	DET
faba-284	86	13	decision	decision	NOUN
faba-284	86	14	,	,	PUNCT
faba-284	86	15	but	but	CCONJ
faba-284	86	16	not	not	PART
faba-284	86	17	as	as	ADP
faba-284	86	18	the	the	DET
faba-284	86	19	sole	sole	ADJ
faba-284	86	20	criterion	criterion	NOUN
faba-284	86	21	for	for	ADP
faba-284	86	22	the	the	DET
faba-284	86	23	rejection	rejection	NOUN
faba-284	86	24	of	of	ADP
faba-284	86	25	𝐻0	𝐻0	PROPN
faba-284	86	26	.	.	PUNCT
faba-284	87	1	investment	investment	NOUN
faba-284	87	2	strategy	strategy	NOUN
faba-284	87	3	active	active	ADJ
faba-284	87	4	vs	vs	ADP
faba-284	87	5	passive	passive	ADJ
faba-284	87	6	approach	approach	NOUN
faba-284	87	7	there	there	PRON
faba-284	87	8	are	be	VERB
faba-284	87	9	basically	basically	ADV
faba-284	87	10	two	two	NUM
faba-284	87	11	ways	way	NOUN
faba-284	87	12	of	of	ADP
faba-284	87	13	approaching	approach	VERB
faba-284	87	14	investments	investment	NOUN
faba-284	87	15	in	in	ADP
faba-284	87	16	risky	risky	ADJ
faba-284	87	17	assets	asset	NOUN
faba-284	87	18	,	,	PUNCT
faba-284	87	19	an	an	DET
faba-284	87	20	active	active	ADJ
faba-284	87	21	pursuit	pursuit	NOUN
faba-284	87	22	in	in	ADP
faba-284	87	23	which	which	PRON
faba-284	87	24	the	the	DET
faba-284	87	25	investor	investor	NOUN
faba-284	87	26	seeks	seek	VERB
faba-284	87	27	to	to	PART
faba-284	87	28	be	be	AUX
faba-284	87	29	compensated	compensate	VERB
faba-284	87	30	by	by	ADP
faba-284	87	31	his	his	PRON
faba-284	87	32	exposure	exposure	NOUN
faba-284	87	33	to	to	ADP
faba-284	87	34	risk	risk	NOUN
faba-284	87	35	by	by	ADP
faba-284	87	36	maximizing	maximize	VERB
faba-284	87	37	his	his	PRON
faba-284	87	38	return	return	NOUN
faba-284	87	39	,	,	PUNCT
faba-284	87	40	called	call	VERB
faba-284	87	41	alpha	alpha	NOUN
faba-284	87	42	.	.	PUNCT
faba-284	88	1	under	under	ADP
faba-284	88	2	this	this	DET
faba-284	88	3	strategy	strategy	NOUN
faba-284	88	4	the	the	DET
faba-284	88	5	investor	investor	NOUN
faba-284	88	6	will	will	AUX
faba-284	88	7	have	have	VERB
faba-284	88	8	an	an	DET
faba-284	88	9	active	active	ADJ
faba-284	88	10	role	role	NOUN
faba-284	88	11	in	in	ADP
faba-284	88	12	choosing	choose	VERB
faba-284	88	13	the	the	DET
faba-284	88	14	entry	entry	NOUN
faba-284	88	15	and	and	CCONJ
faba-284	88	16	exit	exit	NOUN
faba-284	88	17	points	point	NOUN
faba-284	88	18	of	of	ADP
faba-284	88	19	his	his	PRON
faba-284	88	20	investment	investment	NOUN
faba-284	88	21	,	,	PUNCT
faba-284	88	22	believing	believe	VERB
faba-284	88	23	it	it	PRON
faba-284	88	24	is	be	AUX
faba-284	88	25	possible	possible	ADJ
faba-284	88	26	to	to	PART
faba-284	88	27	outperform	outperform	VERB
faba-284	88	28	the	the	DET
faba-284	88	29	benchmark	benchmark	NOUN
faba-284	88	30	.	.	PUNCT
faba-284	89	1	and	and	CCONJ
faba-284	89	2	there	there	PRON
faba-284	89	3	is	be	VERB
faba-284	89	4	a	a	DET
faba-284	89	5	passive	passive	ADJ
faba-284	89	6	strategy	strategy	NOUN
faba-284	89	7	in	in	ADP
faba-284	89	8	which	which	PRON
faba-284	89	9	the	the	DET
faba-284	89	10	investor	investor	NOUN
faba-284	89	11	believes	believe	VERB
faba-284	89	12	that	that	SCONJ
faba-284	89	13	the	the	DET
faba-284	89	14	performance	performance	NOUN
faba-284	89	15	of	of	ADP
faba-284	89	16	the	the	DET
faba-284	89	17	benchmark	benchmark	NOUN
faba-284	89	18	can	can	AUX
faba-284	89	19	not	not	PART
faba-284	89	20	be	be	AUX
faba-284	89	21	beaten	beat	VERB
faba-284	89	22	and	and	CCONJ
faba-284	89	23	therefore	therefore	ADV
faba-284	89	24	the	the	DET
faba-284	89	25	strategy	strategy	NOUN
faba-284	89	26	is	be	AUX
faba-284	89	27	simple	simple	ADJ
faba-284	89	28	.	.	PUNCT
faba-284	90	1	invest	invest	VERB
faba-284	90	2	in	in	ADP
faba-284	90	3	the	the	DET
faba-284	90	4	benchmark	benchmark	NOUN
faba-284	90	5	and	and	CCONJ
faba-284	90	6	do	do	AUX
faba-284	90	7	not	not	PART
faba-284	90	8	try	try	VERB
faba-284	90	9	to	to	PART
faba-284	90	10	generate	generate	VERB
faba-284	90	11	an	an	DET
faba-284	90	12	excess	excess	ADJ
faba-284	90	13	return	return	NOUN
faba-284	90	14	by	by	ADP
faba-284	90	15	taking	take	VERB
faba-284	90	16	opportunities	opportunity	NOUN
faba-284	90	17	during	during	ADP
faba-284	90	18	the	the	DET
faba-284	90	19	market	market	NOUN
faba-284	90	20	cycle	cycle	NOUN
faba-284	90	21	.	.	PUNCT
faba-284	91	1	the	the	DET
faba-284	91	2	strategy	strategy	NOUN
faba-284	91	3	outlined	outline	VERB
faba-284	91	4	hereafter	hereafter	ADV
faba-284	91	5	seeks	seek	VERB
faba-284	91	6	to	to	PART
faba-284	91	7	take	take	VERB
faba-284	91	8	advantage	advantage	NOUN
faba-284	91	9	of	of	ADP
faba-284	91	10	the	the	DET
faba-284	91	11	key	key	ADJ
faba-284	91	12	events	event	NOUN
faba-284	91	13	that	that	PRON
faba-284	91	14	characterize	characterize	VERB
faba-284	91	15	the	the	DET
faba-284	91	16	btc	btc	ADJ
faba-284	91	17	market	market	NOUN
faba-284	91	18	cycle	cycle	NOUN
faba-284	91	19	and	and	CCONJ
faba-284	91	20	outperform	outperform	VERB
faba-284	91	21	the	the	DET
faba-284	91	22	returns	return	NOUN
faba-284	91	23	of	of	ADP
faba-284	91	24	a	a	DET
faba-284	91	25	passive	passive	ADJ
faba-284	91	26	investment	investment	NOUN
faba-284	91	27	strategy	strategy	NOUN
faba-284	91	28	.	.	PUNCT
faba-284	92	1	the	the	DET
faba-284	92	2	asset	asset	NOUN
faba-284	92	3	and	and	CCONJ
faba-284	92	4	platform	platform	NOUN
faba-284	92	5	the	the	DET
faba-284	92	6	chosen	choose	VERB
faba-284	92	7	asset	asset	NOUN
faba-284	92	8	for	for	ADP
faba-284	92	9	this	this	DET
faba-284	92	10	strategy	strategy	NOUN
faba-284	92	11	is	be	AUX
faba-284	92	12	btc	btc	NOUN
faba-284	92	13	paired	pair	VERB
faba-284	92	14	against	against	ADP
faba-284	92	15	the	the	DET
faba-284	92	16	us	us	PROPN
faba-284	92	17	dollar	dollar	NOUN
faba-284	92	18	(	(	PUNCT
faba-284	92	19	btc	btc	PROPN
faba-284	92	20	/	/	SYM
faba-284	92	21	usd	usd	NOUN
faba-284	92	22	)	)	PUNCT
faba-284	92	23	.	.	PUNCT
faba-284	93	1	btc	btc	PROPN
faba-284	93	2	is	be	AUX
faba-284	93	3	a	a	DET
faba-284	93	4	decentralized	decentralize	VERB
faba-284	93	5	digital	digital	ADJ
faba-284	93	6	currency	currency	NOUN
faba-284	93	7	and	and	CCONJ
faba-284	93	8	a	a	DET
faba-284	93	9	pioneer	pioneer	NOUN
faba-284	93	10	in	in	ADP
faba-284	93	11	the	the	DET
faba-284	93	12	world	world	NOUN
faba-284	93	13	of	of	ADP
faba-284	93	14	cryptocurrencies	cryptocurrencie	NOUN
faba-284	93	15	.	.	PUNCT
faba-284	94	1	it	it	PRON
faba-284	94	2	was	be	AUX
faba-284	94	3	created	create	VERB
faba-284	94	4	in	in	ADP
faba-284	94	5	2009	2009	NUM
faba-284	94	6	by	by	ADP
faba-284	94	7	an	an	DET
faba-284	94	8	anonymous	anonymous	ADJ
faba-284	94	9	individual	individual	NOUN
faba-284	94	10	or	or	CCONJ
faba-284	94	11	group	group	NOUN
faba-284	94	12	of	of	ADP
faba-284	94	13	individuals	individual	NOUN
faba-284	94	14	using	use	VERB
faba-284	94	15	the	the	DET
faba-284	94	16	pseudonym	pseudonym	NOUN
faba-284	94	17	satoshi	satoshi	PROPN
faba-284	94	18	nakamoto	nakamoto	PROPN
faba-284	94	19	.	.	PUNCT
faba-284	95	1	btc	btc	PROPN
faba-284	95	2	operates	operate	VERB
faba-284	95	3	on	on	ADP
faba-284	95	4	a	a	DET
faba-284	95	5	technology	technology	NOUN
faba-284	95	6	called	call	VERB
faba-284	95	7	blockchain	blockchain	PROPN
faba-284	95	8	,	,	PUNCT
faba-284	95	9	which	which	PRON
faba-284	95	10	is	be	AUX
faba-284	95	11	a	a	DET
faba-284	95	12	distributed	distribute	VERB
faba-284	95	13	ledger	ledger	NOUN
faba-284	95	14	that	that	PRON
faba-284	95	15	records	record	VERB
faba-284	95	16	all	all	DET
faba-284	95	17	transactions	transaction	NOUN
faba-284	95	18	across	across	ADP
faba-284	95	19	a	a	DET
faba-284	95	20	network	network	NOUN
faba-284	95	21	of	of	ADP
faba-284	95	22	computers	computer	NOUN
faba-284	95	23	.	.	PUNCT
faba-284	96	1	btc	btc	PROPN
faba-284	96	2	was	be	AUX
faba-284	96	3	created	create	VERB
faba-284	96	4	to	to	PART
faba-284	96	5	address	address	VERB
faba-284	96	6	various	various	ADJ
faba-284	96	7	shortcomings	shortcoming	NOUN
faba-284	96	8	in	in	ADP
faba-284	96	9	traditional	traditional	ADJ
faba-284	96	10	financial	financial	ADJ
faba-284	96	11	systems	system	NOUN
faba-284	96	12	,	,	PUNCT
faba-284	96	13	including	include	VERB
faba-284	96	14	centralization	centralization	NOUN
faba-284	96	15	,	,	PUNCT
faba-284	96	16	lack	lack	NOUN
faba-284	96	17	of	of	ADP
faba-284	96	18	transparency	transparency	NOUN
faba-284	96	19	,	,	PUNCT
faba-284	96	20	and	and	CCONJ
faba-284	96	21	issues	issue	NOUN
faba-284	96	22	related	relate	VERB
faba-284	96	23	to	to	ADP
faba-284	96	24	trust	trust	NOUN
faba-284	96	25	and	and	CCONJ
faba-284	96	26	security	security	NOUN
faba-284	96	27	.	.	PUNCT
faba-284	97	1	it	it	PRON
faba-284	97	2	aimed	aim	VERB
faba-284	97	3	to	to	PART
faba-284	97	4	provide	provide	VERB
faba-284	97	5	an	an	DET
faba-284	97	6	open	open	ADJ
faba-284	97	7	,	,	PUNCT
faba-284	97	8	decentralized	decentralize	VERB
faba-284	97	9	,	,	PUNCT
faba-284	97	10	and	and	CCONJ
faba-284	97	11	secure	secure	ADJ
faba-284	97	12	means	mean	NOUN
faba-284	97	13	of	of	ADP
faba-284	97	14	transferring	transferring	NOUN
faba-284	97	15	value	value	NOUN
faba-284	97	16	and	and	CCONJ
faba-284	97	17	conducting	conduct	VERB
faba-284	97	18	transactions	transaction	NOUN
faba-284	97	19	in	in	ADP
faba-284	97	20	a	a	DET
faba-284	97	21	digital	digital	ADJ
faba-284	97	22	world	world	NOUN
faba-284	97	23	.	.	PUNCT
faba-284	98	1	its	its	PRON
faba-284	98	2	impact	impact	NOUN
faba-284	98	3	has	have	AUX
faba-284	98	4	extended	extend	VERB
faba-284	98	5	beyond	beyond	ADP
faba-284	98	6	its	its	PRON
faba-284	98	7	initial	initial	ADJ
faba-284	98	8	goals	goal	NOUN
faba-284	98	9	,	,	PUNCT
faba-284	98	10	influencing	influence	VERB
faba-284	98	11	not	not	PART
faba-284	98	12	only	only	ADV
faba-284	98	13	the	the	DET
faba-284	98	14	broader	broad	ADJ
faba-284	98	15	cryptocurrency	cryptocurrency	NOUN
faba-284	98	16	and	and	CCONJ
faba-284	98	17	blockchain	blockchain	PROPN
faba-284	98	18	ecosystem	ecosystem	PROPN
faba-284	98	19	but	but	CCONJ
faba-284	98	20	also	also	ADV
faba-284	98	21	financial	financial	ADJ
faba-284	98	22	institutions	institution	NOUN
faba-284	98	23	.	.	PUNCT
faba-284	99	1	currently	currently	ADV
faba-284	99	2	there	there	PRON
faba-284	99	3	are	be	VERB
faba-284	99	4	25	25	NUM
faba-284	99	5	btc	btc	PROPN
faba-284	99	6	spot	spot	PROPN
faba-284	99	7	etfs	etfs	PROPN
faba-284	99	8	worldwide	worldwide	ADV
faba-284	99	9	,	,	PUNCT
faba-284	99	10	with	with	ADP
faba-284	99	11	11	11	NUM
faba-284	99	12	being	be	AUX
faba-284	99	13	in	in	ADP
faba-284	99	14	the	the	DET
faba-284	99	15	us	us	PROPN
faba-284	99	16	(	(	PUNCT
faba-284	99	17	shen	shen	NOUN
faba-284	99	18	2023	2023	NUM
faba-284	99	19	)	)	PUNCT
faba-284	99	20	.	.	PUNCT
faba-284	100	1	the	the	DET
faba-284	100	2	chosen	choose	VERB
faba-284	100	3	platform	platform	NOUN
faba-284	100	4	was	be	AUX
faba-284	100	5	bitstamp	bitstamp	NOUN
faba-284	100	6	,	,	PUNCT
faba-284	100	7	for	for	ADP
faba-284	100	8	being	be	AUX
faba-284	100	9	one	one	NUM
faba-284	100	10	of	of	ADP
faba-284	100	11	the	the	DET
faba-284	100	12	earliest	early	ADJ
faba-284	100	13	and	and	CCONJ
faba-284	100	14	most	most	ADV
faba-284	100	15	well	well	ADV
faba-284	100	16	-	-	PUNCT
faba-284	100	17	established	establish	VERB
faba-284	100	18	cryptocurrency	cryptocurrency	NOUN
faba-284	100	19	exchanges	exchange	NOUN
faba-284	100	20	in	in	ADP
faba-284	100	21	the	the	DET
faba-284	100	22	world	world	NOUN
faba-284	100	23	.	.	PUNCT
faba-284	101	1	but	but	CCONJ
faba-284	101	2	also	also	ADV
faba-284	101	3	,	,	PUNCT
faba-284	101	4	for	for	ADP
faba-284	101	5	having	have	VERB
faba-284	101	6	one	one	NUM
faba-284	101	7	of	of	ADP
faba-284	101	8	the	the	DET
faba-284	101	9	most	most	ADV
faba-284	101	10	complete	complete	ADJ
faba-284	101	11	data	data	NOUN
faba-284	101	12	sets	set	NOUN
faba-284	101	13	for	for	ADP
faba-284	101	14	the	the	DET
faba-284	101	15	btc	btc	ADJ
faba-284	101	16	pair	pair	NOUN
faba-284	101	17	.	.	PUNCT
faba-284	102	1	founded	found	VERB
faba-284	102	2	in	in	ADP
faba-284	102	3	2011	2011	NUM
faba-284	102	4	,	,	PUNCT
faba-284	102	5	bitstamp	bitstamp	NOUN
faba-284	102	6	has	have	AUX
faba-284	102	7	earned	earn	VERB
faba-284	102	8	a	a	DET
faba-284	102	9	reputation	reputation	NOUN
faba-284	102	10	for	for	ADP
faba-284	102	11	reliability	reliability	NOUN
faba-284	102	12	and	and	CCONJ
faba-284	102	13	security	security	NOUN
faba-284	102	14	in	in	ADP
faba-284	102	15	the	the	DET
faba-284	102	16	cryptocurrency	cryptocurrency	NOUN
faba-284	102	17	industry	industry	NOUN
faba-284	102	18	.	.	PUNCT
faba-284	103	1	overall	overall	ADV
faba-284	103	2	,	,	PUNCT
faba-284	103	3	the	the	DET
faba-284	103	4	platform	platform	NOUN
faba-284	103	5	has	have	AUX
faba-284	103	6	played	play	VERB
faba-284	103	7	a	a	DET
faba-284	103	8	pivotal	pivotal	ADJ
faba-284	103	9	role	role	NOUN
faba-284	103	10	in	in	ADP
faba-284	103	11	the	the	DET
faba-284	103	12	development	development	NOUN
faba-284	103	13	and	and	CCONJ
faba-284	103	14	maturation	maturation	NOUN
faba-284	103	15	of	of	ADP
faba-284	103	16	the	the	DET
faba-284	103	17	cryptocurrency	cryptocurrency	NOUN
faba-284	103	18	market	market	NOUN
faba-284	103	19	.	.	PUNCT
faba-284	104	1	its	its	PRON
faba-284	104	2	commitment	commitment	NOUN
faba-284	104	3	to	to	ADP
faba-284	104	4	security	security	NOUN
faba-284	104	5	,	,	PUNCT
faba-284	104	6	compliance	compliance	NOUN
faba-284	104	7	,	,	PUNCT
faba-284	104	8	and	and	CCONJ
faba-284	104	9	user	user	NOUN
faba-284	104	10	experience	experience	NOUN
faba-284	104	11	has	have	AUX
faba-284	104	12	made	make	VERB
faba-284	104	13	it	it	PRON
faba-284	104	14	a	a	DET
faba-284	104	15	trusted	trust	VERB
faba-284	104	16	platform	platform	NOUN
faba-284	104	17	for	for	ADP
faba-284	104	18	buying	buying	NOUN
faba-284	104	19	,	,	PUNCT
faba-284	104	20	selling	selling	NOUN
faba-284	104	21	,	,	PUNCT
faba-284	104	22	and	and	CCONJ
faba-284	104	23	trading	trading	NOUN
faba-284	104	24	cryptocurrencies	cryptocurrencie	NOUN
faba-284	104	25	for	for	ADP
faba-284	104	26	both	both	CCONJ
faba-284	104	27	individual	individual	ADJ
faba-284	104	28	and	and	CCONJ
faba-284	104	29	institutional	institutional	ADJ
faba-284	104	30	investors	investor	NOUN
faba-284	104	31	.	.	PUNCT
faba-284	105	1	alejandro	alejandro	PROPN
faba-284	105	2	rabinovich	rabinovich	PROPN
faba-284	105	3	/	/	SYM
faba-284	105	4	finance	finance	NOUN
faba-284	105	5	,	,	PUNCT
faba-284	105	6	accounting	accounting	NOUN
faba-284	105	7	and	and	CCONJ
faba-284	105	8	business	business	NOUN
faba-284	105	9	analysis	analysis	NOUN
faba-284	105	10	,	,	PUNCT
faba-284	105	11	volume	volume	NOUN
faba-284	105	12	7	7	NUM
faba-284	105	13	,	,	PUNCT
faba-284	105	14	issue	issue	NOUN
faba-284	105	15	2	2	NUM
faba-284	105	16	,	,	PUNCT
faba-284	105	17	2025	2025	NUM
faba-284	105	18	255	255	NUM
faba-284	105	19	indicators	indicator	NOUN
faba-284	105	20	and	and	CCONJ
faba-284	105	21	concepts	concept	VERB
faba-284	105	22	simple	simple	ADJ
faba-284	105	23	moving	move	VERB
faba-284	105	24	average	average	ADJ
faba-284	105	25	(	(	PUNCT
faba-284	105	26	sma	sma	PROPN
faba-284	105	27	)	)	PUNCT
faba-284	105	28	is	be	AUX
faba-284	105	29	a	a	DET
faba-284	105	30	commonly	commonly	ADV
faba-284	105	31	used	use	VERB
faba-284	105	32	technical	technical	ADJ
faba-284	105	33	indicator	indicator	NOUN
faba-284	105	34	in	in	ADP
faba-284	105	35	financial	financial	ADJ
faba-284	105	36	analysis	analysis	NOUN
faba-284	105	37	that	that	SCONJ
faba-284	105	38	smooth	smooth	ADJ
faba-284	105	39	price	price	NOUN
faba-284	105	40	data	datum	NOUN
faba-284	105	41	over	over	ADP
faba-284	105	42	specific	specific	ADJ
faba-284	105	43	periods	period	NOUN
faba-284	105	44	to	to	PART
faba-284	105	45	identify	identify	VERB
faba-284	105	46	trends	trend	NOUN
faba-284	105	47	.	.	PUNCT
faba-284	106	1	its	its	PRON
faba-284	106	2	calculation	calculation	NOUN
faba-284	106	3	is	be	AUX
faba-284	106	4	quite	quite	ADV
faba-284	106	5	straight	straight	ADV
faba-284	106	6	forward	forward	ADV
faba-284	106	7	and	and	CCONJ
faba-284	106	8	can	can	AUX
faba-284	106	9	be	be	AUX
faba-284	106	10	calculated	calculate	VERB
faba-284	106	11	over	over	ADP
faba-284	106	12	different	different	ADJ
faba-284	106	13	time	time	NOUN
faba-284	106	14	frames	frame	NOUN
faba-284	106	15	.	.	PUNCT
faba-284	107	1	the	the	DET
faba-284	107	2	formula	formula	NOUN
faba-284	107	3	is	be	AUX
faba-284	107	4	as	as	SCONJ
faba-284	107	5	follows	follow	VERB
faba-284	107	6	:	:	PUNCT
faba-284	107	7	𝑆𝑀𝐴	𝑆𝑀𝐴	NOUN
faba-284	107	8	=	=	PUNCT
faba-284	107	9	∑	∑	PUNCT
faba-284	107	10	𝑃𝑛	𝑃𝑛	PROPN
faba-284	107	11	𝑖=1	𝑖=1	PROPN
faba-284	107	12	𝑛	𝑛	PROPN
faba-284	107	13	(	(	PUNCT
faba-284	107	14	8)	8)	NUM
faba-284	107	15	where	where	SCONJ
faba-284	107	16	:	:	PUNCT
faba-284	107	17	p	p	NOUN
faba-284	107	18	−	−	PROPN
faba-284	107	19	price	price	NOUN
faba-284	107	20	value	value	NOUN
faba-284	107	21	.	.	PUNCT
faba-284	108	1	n	n	CCONJ
faba-284	108	2	−	−	PROPN
faba-284	108	3	number	number	NOUN
faba-284	108	4	of	of	ADP
faba-284	108	5	periods	period	NOUN
faba-284	108	6	.	.	PUNCT
faba-284	109	1	exponential	exponential	ADJ
faba-284	109	2	moving	move	VERB
faba-284	109	3	average	average	ADJ
faba-284	109	4	(	(	PUNCT
faba-284	109	5	ema	ema	PROPN
faba-284	109	6	)	)	PUNCT
faba-284	109	7	is	be	AUX
faba-284	109	8	another	another	DET
faba-284	109	9	commonly	commonly	ADV
faba-284	109	10	used	use	VERB
faba-284	109	11	technical	technical	ADJ
faba-284	109	12	indicators	indicator	NOUN
faba-284	109	13	in	in	ADP
faba-284	109	14	financial	financial	ADJ
faba-284	109	15	analysis	analysis	NOUN
faba-284	109	16	,	,	PUNCT
faba-284	109	17	similar	similar	ADJ
faba-284	109	18	to	to	ADP
faba-284	109	19	the	the	DET
faba-284	109	20	sma	sma	NOUN
faba-284	109	21	.	.	PUNCT
faba-284	110	1	however	however	ADV
faba-284	110	2	,	,	PUNCT
faba-284	110	3	the	the	DET
faba-284	110	4	key	key	ADJ
faba-284	110	5	difference	difference	NOUN
faba-284	110	6	with	with	ADP
faba-284	110	7	the	the	DET
faba-284	110	8	ema	ema	PROPN
faba-284	110	9	,	,	PUNCT
faba-284	110	10	is	be	AUX
faba-284	110	11	that	that	SCONJ
faba-284	110	12	it	it	PRON
faba-284	110	13	gives	give	VERB
faba-284	110	14	more	more	ADJ
faba-284	110	15	weight	weight	NOUN
faba-284	110	16	to	to	ADP
faba-284	110	17	recent	recent	ADJ
faba-284	110	18	price	price	NOUN
faba-284	110	19	data	datum	NOUN
faba-284	110	20	,	,	PUNCT
faba-284	110	21	making	make	VERB
faba-284	110	22	it	it	PRON
faba-284	110	23	more	more	ADV
faba-284	110	24	responsive	responsive	ADJ
faba-284	110	25	to	to	ADP
faba-284	110	26	recent	recent	ADJ
faba-284	110	27	price	price	NOUN
faba-284	110	28	changes	change	NOUN
faba-284	110	29	.	.	PUNCT
faba-284	111	1	the	the	DET
faba-284	111	2	formula	formula	NOUN
faba-284	111	3	is	be	AUX
faba-284	111	4	as	as	SCONJ
faba-284	111	5	follows	follow	VERB
faba-284	111	6	:	:	PUNCT
faba-284	111	7	𝐸𝑀𝐴	𝐸𝑀𝐴	NOUN
faba-284	111	8	=	=	SYM
faba-284	111	9	(	(	PUNCT
faba-284	111	10	𝑃	𝑃	NOUN
faba-284	111	11	∗	∗	NOUN
faba-284	111	12	𝛼	𝛼	NOUN
faba-284	111	13	)	)	PUNCT
faba-284	111	14	+	+	CCONJ
faba-284	111	15	(	(	PUNCT
faba-284	111	16	𝑃𝑟𝑒𝑣𝑖𝑜𝑢𝑠	𝑃𝑟𝑒𝑣𝑖𝑜𝑢𝑠	PROPN
faba-284	111	17	𝐸𝑀𝐴	𝐸𝑀𝐴	PROPN
faba-284	111	18	∗	∗	NOUN
faba-284	111	19	(	(	PUNCT
faba-284	111	20	1	1	NUM
faba-284	111	21	−	−	NOUN
faba-284	111	22	𝛼	𝛼	NOUN
faba-284	111	23	)	)	PUNCT
faba-284	111	24	)	)	PUNCT
faba-284	111	25	(	(	PUNCT
faba-284	111	26	9	9	X
faba-284	111	27	)	)	PUNCT
faba-284	112	1	where	where	SCONJ
faba-284	112	2	:	:	PUNCT
faba-284	112	3	p	p	X
faba-284	112	4	−	−	PROPN
faba-284	112	5	current	current	ADJ
faba-284	112	6	price	price	NOUN
faba-284	112	7	𝛼	𝛼	NOUN
faba-284	112	8	−	−	NOUN
faba-284	112	9	smoothing	smoothing	NOUN
faba-284	112	10	factor	factor	NOUN
faba-284	112	11	=	=	SYM
faba-284	112	12	2	2	NUM
faba-284	112	13	1+𝑛	1+𝑛	NUM
faba-284	112	14	n	n	CCONJ
faba-284	112	15	−	−	NOUN
faba-284	112	16	number	number	NOUN
faba-284	112	17	of	of	ADP
faba-284	112	18	periods	period	NOUN
faba-284	112	19	bull	bull	NOUN
faba-284	112	20	market	market	NOUN
faba-284	112	21	support	support	NOUN
faba-284	112	22	band	band	NOUN
faba-284	112	23	(	(	PUNCT
faba-284	112	24	bmsb	bmsb	ADV
faba-284	112	25	)	)	PUNCT
faba-284	112	26	the	the	DET
faba-284	112	27	bull	bull	NOUN
faba-284	112	28	market	market	NOUN
faba-284	112	29	support	support	NOUN
faba-284	112	30	band	band	NOUN
faba-284	112	31	is	be	AUX
faba-284	112	32	an	an	DET
faba-284	112	33	indicator	indicator	NOUN
faba-284	112	34	that	that	PRON
faba-284	112	35	combines	combine	VERB
faba-284	112	36	a	a	DET
faba-284	112	37	20	20	NUM
faba-284	112	38	week	week	NOUN
faba-284	112	39	sma	sma	NOUN
faba-284	112	40	and	and	CCONJ
faba-284	112	41	a	a	DET
faba-284	112	42	21	21	NUM
faba-284	112	43	week	week	NOUN
faba-284	112	44	ema	ema	PROPN
faba-284	112	45	.	.	PUNCT
faba-284	113	1	these	these	DET
faba-284	113	2	two	two	NUM
faba-284	113	3	together	together	ADV
faba-284	113	4	create	create	VERB
faba-284	113	5	a	a	DET
faba-284	113	6	band	band	NOUN
faba-284	113	7	that	that	PRON
faba-284	113	8	has	have	AUX
faba-284	113	9	historically	historically	ADV
faba-284	113	10	acted	act	VERB
faba-284	113	11	as	as	ADP
faba-284	113	12	support	support	NOUN
faba-284	113	13	for	for	ADP
faba-284	113	14	the	the	DET
faba-284	113	15	price	price	NOUN
faba-284	113	16	during	during	ADP
faba-284	113	17	bull	bull	NOUN
faba-284	113	18	markets	market	NOUN
faba-284	113	19	and	and	CCONJ
faba-284	113	20	as	as	ADP
faba-284	113	21	resistance	resistance	NOUN
faba-284	113	22	during	during	ADP
faba-284	113	23	bear	bear	NOUN
faba-284	113	24	market	market	NOUN
faba-284	113	25	(	(	PUNCT
faba-284	113	26	senado	senado	NOUN
faba-284	113	27	2023	2023	NUM
faba-284	113	28	)	)	PUNCT
faba-284	113	29	.	.	PUNCT
faba-284	114	1	source	source	NOUN
faba-284	114	2	:	:	PUNCT
faba-284	114	3	authors	author	NOUN
faba-284	114	4	’	’	PART
faba-284	114	5	data	datum	NOUN
faba-284	114	6	(	(	PUNCT
faba-284	114	7	https://www.tradingview.com/	https://www.tradingview.com/	NOUN
faba-284	114	8	platform	platform	NOUN
faba-284	114	9	)	)	PUNCT
faba-284	114	10	figure	figure	NOUN
faba-284	114	11	2	2	NUM
faba-284	114	12	.	.	PUNCT
faba-284	114	13	bmsb	bmsb	PROPN
faba-284	114	14	pi	pi	PROPN
faba-284	114	15	cycle	cycle	NOUN
faba-284	114	16	top	top	NOUN
faba-284	114	17	indicator	indicator	NOUN
faba-284	114	18	this	this	DET
faba-284	114	19	indicator	indicator	NOUN
faba-284	114	20	has	have	AUX
faba-284	114	21	gained	gain	VERB
faba-284	114	22	notoriety	notoriety	NOUN
faba-284	114	23	for	for	ADP
faba-284	114	24	indicating	indicate	VERB
faba-284	114	25	with	with	ADP
faba-284	114	26	days	day	NOUN
faba-284	114	27	difference	difference	NOUN
faba-284	114	28	the	the	DET
faba-284	114	29	highs	high	NOUN
faba-284	114	30	of	of	ADP
faba-284	114	31	previous	previous	ADJ
faba-284	114	32	market	market	NOUN
faba-284	114	33	cycles	cycle	NOUN
faba-284	114	34	.	.	PUNCT
faba-284	115	1	it	it	PRON
faba-284	115	2	combines	combine	VERB
faba-284	115	3	both	both	CCONJ
faba-284	115	4	a	a	DET
faba-284	115	5	daily	daily	ADJ
faba-284	115	6	111	111	NUM
faba-284	115	7	sma	sma	NOUN
faba-284	115	8	and	and	CCONJ
faba-284	115	9	a	a	DET
faba-284	115	10	350	350	NUM
faba-284	115	11	sma	sma	NOUN
faba-284	115	12	x2	x2	PROPN
faba-284	115	13	.	.	PUNCT
faba-284	116	1	when	when	SCONJ
faba-284	116	2	the	the	DET
faba-284	116	3	111	111	NUM
faba-284	116	4	sma	sma	NOUN
faba-284	116	5	approaches	approach	VERB
faba-284	116	6	the	the	DET
faba-284	116	7	350	350	NUM
faba-284	116	8	smax2	smax2	NOUN
faba-284	116	9	from	from	ADP
faba-284	116	10	below	below	ADP
faba-284	116	11	and	and	CCONJ
faba-284	116	12	crosses	crosse	NOUN
faba-284	116	13	over	over	ADV
faba-284	116	14	,	,	PUNCT
faba-284	116	15	this	this	DET
faba-284	116	16	signal	signal	NOUN
faba-284	116	17	indicates	indicate	VERB
faba-284	116	18	a	a	DET
faba-284	116	19	market	market	NOUN
faba-284	116	20	top	top	NOUN
faba-284	116	21	(	(	PUNCT
faba-284	116	22	swift	swift	ADJ
faba-284	116	23	2019	2019	NUM
faba-284	116	24	)	)	PUNCT
faba-284	116	25	.	.	PUNCT
faba-284	117	1	https://www.tradingview.com/	https://www.tradingview.com/	PROPN
faba-284	117	2	alejandro	alejandro	PROPN
faba-284	117	3	rabinovich	rabinovich	PROPN
faba-284	117	4	/	/	SYM
faba-284	117	5	finance	finance	NOUN
faba-284	117	6	,	,	PUNCT
faba-284	117	7	accounting	accounting	NOUN
faba-284	117	8	and	and	CCONJ
faba-284	117	9	business	business	NOUN
faba-284	117	10	analysis	analysis	NOUN
faba-284	117	11	,	,	PUNCT
faba-284	117	12	volume	volume	NOUN
faba-284	117	13	7	7	NUM
faba-284	117	14	,	,	PUNCT
faba-284	117	15	issue	issue	NOUN
faba-284	117	16	2	2	NUM
faba-284	117	17	,	,	PUNCT
faba-284	117	18	2025	2025	NUM
faba-284	117	19	256	256	NUM
faba-284	117	20	source	source	NOUN
faba-284	117	21	:	:	PUNCT
faba-284	117	22	authors	author	NOUN
faba-284	117	23	’	’	PART
faba-284	117	24	data	datum	NOUN
faba-284	117	25	(	(	PUNCT
faba-284	117	26	https://www.tradingview.com/	https://www.tradingview.com/	NOUN
faba-284	117	27	platform	platform	NOUN
faba-284	117	28	)	)	PUNCT
faba-284	117	29	figure	figure	NOUN
faba-284	117	30	3	3	NUM
faba-284	117	31	.	.	PUNCT
faba-284	117	32	pi	pi	NOUN
faba-284	117	33	cycle	cycle	NOUN
faba-284	117	34	indicator	indicator	NOUN
faba-284	117	35	rsi	rsi	VERB
faba-284	117	36	the	the	DET
faba-284	117	37	relative	relative	ADJ
faba-284	117	38	strength	strength	NOUN
faba-284	117	39	index	index	NOUN
faba-284	117	40	(	(	PUNCT
faba-284	117	41	rsi	rsi	NOUN
faba-284	117	42	)	)	PUNCT
faba-284	117	43	is	be	AUX
faba-284	117	44	a	a	DET
faba-284	117	45	popular	popular	ADJ
faba-284	117	46	technical	technical	ADJ
faba-284	117	47	indicator	indicator	NOUN
faba-284	117	48	used	use	VERB
faba-284	117	49	alike	alike	ADV
faba-284	117	50	in	in	ADP
faba-284	117	51	traditional	traditional	ADJ
faba-284	117	52	assets	asset	NOUN
faba-284	117	53	and	and	CCONJ
faba-284	117	54	in	in	ADP
faba-284	117	55	cryptocurrencies	cryptocurrencie	NOUN
faba-284	117	56	.	.	PUNCT
faba-284	118	1	it	it	PRON
faba-284	118	2	is	be	AUX
faba-284	118	3	a	a	DET
faba-284	118	4	momentum	momentum	NOUN
faba-284	118	5	oscillator	oscillator	NOUN
faba-284	118	6	that	that	PRON
faba-284	118	7	measures	measure	VERB
faba-284	118	8	the	the	DET
faba-284	118	9	speed	speed	NOUN
faba-284	118	10	and	and	CCONJ
faba-284	118	11	change	change	NOUN
faba-284	118	12	of	of	ADP
faba-284	118	13	price	price	NOUN
faba-284	118	14	movements	movement	NOUN
faba-284	118	15	.	.	PUNCT
faba-284	119	1	the	the	DET
faba-284	119	2	main	main	ADJ
faba-284	119	3	feature	feature	NOUN
faba-284	119	4	of	of	ADP
faba-284	119	5	the	the	DET
faba-284	119	6	rsi	rsi	NOUN
faba-284	119	7	is	be	AUX
faba-284	119	8	that	that	SCONJ
faba-284	119	9	it	it	PRON
faba-284	119	10	can	can	AUX
faba-284	119	11	help	help	VERB
faba-284	119	12	investors	investor	NOUN
faba-284	119	13	identify	identify	VERB
faba-284	119	14	overbought	overbought	NOUN
faba-284	119	15	and	and	CCONJ
faba-284	119	16	oversold	oversell	VERB
faba-284	119	17	conditions	condition	NOUN
faba-284	119	18	in	in	ADP
faba-284	119	19	an	an	DET
faba-284	119	20	asset	asset	NOUN
faba-284	119	21	,	,	PUNCT
faba-284	119	22	together	together	ADV
faba-284	119	23	with	with	ADP
faba-284	119	24	potential	potential	ADJ
faba-284	119	25	trend	trend	NOUN
faba-284	119	26	reversals	reversal	NOUN
faba-284	119	27	.	.	PUNCT
faba-284	120	1	the	the	DET
faba-284	120	2	formula	formula	NOUN
faba-284	120	3	is	be	AUX
faba-284	120	4	as	as	SCONJ
faba-284	120	5	follows	follow	VERB
faba-284	120	6	:	:	PUNCT
faba-284	120	7	𝑅𝑆𝐼	𝑅𝑆𝐼	ADP
faba-284	120	8	=	=	SYM
faba-284	120	9	100	100	NUM
faba-284	120	10	−	−	NUM
faba-284	120	11	100	100	NUM
faba-284	120	12	1	1	NUM
faba-284	120	13	+	+	CCONJ
faba-284	120	14	𝑅𝑆	𝑅𝑆	PROPN
faba-284	120	15	(	(	PUNCT
faba-284	120	16	10	10	NUM
faba-284	120	17	)	)	PUNCT
faba-284	120	18	where	where	SCONJ
faba-284	120	19	:	:	PUNCT
faba-284	120	20	rs	rs	ADJ
faba-284	120	21	relative	relative	ADJ
faba-284	120	22	strength	strength	NOUN
faba-284	120	23	=	=	NOUN
faba-284	120	24	avg	avg	NOUN
faba-284	120	25	gain	gain	VERB
faba-284	120	26	avg	avg	NOUN
faba-284	120	27	loss	loss	NOUN
faba-284	120	28	both	both	DET
faba-284	120	29	average	average	ADJ
faba-284	120	30	gain	gain	NOUN
faba-284	120	31	and	and	CCONJ
faba-284	120	32	loss	loss	NOUN
faba-284	120	33	are	be	AUX
faba-284	120	34	calculated	calculate	VERB
faba-284	120	35	over	over	ADP
faba-284	120	36	a	a	DET
faba-284	120	37	period	period	NOUN
faba-284	120	38	of	of	ADP
faba-284	120	39	14	14	NUM
faba-284	120	40	consecutive	consecutive	ADJ
faba-284	120	41	days	day	NOUN
faba-284	120	42	.	.	PUNCT
faba-284	121	1	positive	positive	ADJ
faba-284	121	2	and	and	CCONJ
faba-284	121	3	negative	negative	ADJ
faba-284	121	4	results	result	NOUN
faba-284	121	5	are	be	AUX
faba-284	121	6	summed	sum	VERB
faba-284	121	7	separately	separately	ADV
faba-284	121	8	and	and	CCONJ
faba-284	121	9	divided	divide	VERB
faba-284	121	10	by	by	ADP
faba-284	121	11	14	14	NUM
faba-284	121	12	to	to	PART
faba-284	121	13	obtain	obtain	VERB
faba-284	121	14	the	the	DET
faba-284	121	15	rs	rs	NOUN
faba-284	121	16	.	.	PUNCT
faba-284	122	1	the	the	DET
faba-284	122	2	results	result	NOUN
faba-284	122	3	are	be	AUX
faba-284	122	4	going	go	VERB
faba-284	122	5	to	to	PART
faba-284	122	6	range	range	VERB
faba-284	122	7	between	between	ADP
faba-284	122	8	0	0	NUM
faba-284	122	9	and	and	CCONJ
faba-284	122	10	100	100	NUM
faba-284	122	11	and	and	CCONJ
faba-284	122	12	the	the	DET
faba-284	122	13	way	way	NOUN
faba-284	122	14	to	to	PART
faba-284	122	15	interpret	interpret	VERB
faba-284	122	16	them	they	PRON
faba-284	122	17	is	be	AUX
faba-284	122	18	the	the	DET
faba-284	122	19	following	following	NOUN
faba-284	122	20	:	:	PUNCT
faba-284	122	21			PRON
faba-284	122	22	overbought	overbought	NOUN
faba-284	122	23	:	:	PUNCT
faba-284	122	24	if	if	SCONJ
faba-284	122	25	the	the	DET
faba-284	122	26	rsi	rsi	NOUN
faba-284	122	27	is	be	AUX
faba-284	122	28	above	above	ADP
faba-284	122	29	70	70	NUM
faba-284	122	30	it	it	PRON
faba-284	122	31	is	be	AUX
faba-284	122	32	in	in	ADP
faba-284	122	33	the	the	DET
faba-284	122	34	overbought	overbought	NOUN
faba-284	122	35	region	region	NOUN
faba-284	122	36	.	.	PUNCT
faba-284	123	1	this	this	PRON
faba-284	123	2	suggests	suggest	VERB
faba-284	123	3	that	that	SCONJ
faba-284	123	4	the	the	DET
faba-284	123	5	asset	asset	NOUN
faba-284	123	6	might	might	AUX
faba-284	123	7	be	be	AUX
faba-284	123	8	overvalued	overvalue	VERB
faba-284	123	9	and	and	CCONJ
faba-284	123	10	that	that	SCONJ
faba-284	123	11	a	a	DET
faba-284	123	12	correction	correction	NOUN
faba-284	123	13	or	or	CCONJ
faba-284	123	14	reversal	reversal	NOUN
faba-284	123	15	might	might	AUX
faba-284	123	16	be	be	AUX
faba-284	123	17	close	close	ADJ
faba-284	123	18	.	.	PUNCT
faba-284	124	1			PRON
faba-284	124	2	oversold	oversold	NOUN
faba-284	124	3	:	:	PUNCT
faba-284	124	4	if	if	SCONJ
faba-284	124	5	the	the	DET
faba-284	124	6	rsi	rsi	NOUN
faba-284	124	7	is	be	AUX
faba-284	124	8	below	below	ADP
faba-284	124	9	30	30	NUM
faba-284	124	10	,	,	PUNCT
faba-284	124	11	it	it	PRON
faba-284	124	12	is	be	AUX
faba-284	124	13	in	in	ADP
faba-284	124	14	the	the	DET
faba-284	124	15	oversold	oversold	ADJ
faba-284	124	16	region	region	NOUN
faba-284	124	17	.	.	PUNCT
faba-284	125	1	it	it	PRON
faba-284	125	2	suggests	suggest	VERB
faba-284	125	3	that	that	SCONJ
faba-284	125	4	the	the	DET
faba-284	125	5	asset	asset	NOUN
faba-284	125	6	might	might	AUX
faba-284	125	7	be	be	AUX
faba-284	125	8	oversold	oversell	VERB
faba-284	125	9	and	and	CCONJ
faba-284	125	10	a	a	DET
faba-284	125	11	reversal	reversal	NOUN
faba-284	125	12	might	might	AUX
faba-284	125	13	be	be	AUX
faba-284	125	14	possible	possible	ADJ
faba-284	125	15	.	.	PUNCT
faba-284	126	1			PRON
faba-284	126	2	trend	trend	NOUN
faba-284	126	3	reversal	reversal	NOUN
faba-284	126	4	:	:	PUNCT
faba-284	126	5	besides	besides	SCONJ
faba-284	126	6	the	the	DET
faba-284	126	7	oversold	oversold	ADJ
faba-284	126	8	or	or	CCONJ
faba-284	126	9	overbought	overbought	ADJ
faba-284	126	10	regions	region	NOUN
faba-284	126	11	,	,	PUNCT
faba-284	126	12	rsi	rsi	NOUN
faba-284	126	13	can	can	AUX
faba-284	126	14	be	be	AUX
faba-284	126	15	used	use	VERB
faba-284	126	16	in	in	ADP
faba-284	126	17	conjunction	conjunction	NOUN
faba-284	126	18	with	with	ADP
faba-284	126	19	price	price	NOUN
faba-284	126	20	.	.	PUNCT
faba-284	127	1	if	if	SCONJ
faba-284	127	2	divergences	divergence	NOUN
faba-284	127	3	are	be	AUX
faba-284	127	4	forming	form	VERB
faba-284	127	5	between	between	ADP
faba-284	127	6	the	the	DET
faba-284	127	7	price	price	NOUN
faba-284	127	8	and	and	CCONJ
faba-284	127	9	the	the	DET
faba-284	127	10	indicator	indicator	NOUN
faba-284	127	11	,	,	PUNCT
faba-284	127	12	this	this	PRON
faba-284	127	13	might	might	AUX
faba-284	127	14	signal	signal	VERB
faba-284	127	15	a	a	DET
faba-284	127	16	bullish	bullish	ADJ
faba-284	127	17	or	or	CCONJ
faba-284	127	18	bearish	bearish	ADJ
faba-284	127	19	reversal	reversal	NOUN
faba-284	127	20	.	.	PUNCT
faba-284	128	1	https://www.tradingview.com/?utm_source=chatgpt.com	https://www.tradingview.com/?utm_source=chatgpt.com	PROPN
faba-284	128	2	alejandro	alejandro	PROPN
faba-284	128	3	rabinovich	rabinovich	PROPN
faba-284	128	4	/	/	SYM
faba-284	128	5	finance	finance	NOUN
faba-284	128	6	,	,	PUNCT
faba-284	128	7	accounting	accounting	NOUN
faba-284	128	8	and	and	CCONJ
faba-284	128	9	business	business	NOUN
faba-284	128	10	analysis	analysis	NOUN
faba-284	128	11	,	,	PUNCT
faba-284	128	12	volume	volume	NOUN
faba-284	128	13	7	7	NUM
faba-284	128	14	,	,	PUNCT
faba-284	128	15	issue	issue	NOUN
faba-284	128	16	2	2	NUM
faba-284	128	17	,	,	PUNCT
faba-284	128	18	2025	2025	NUM
faba-284	128	19	257	257	NUM
faba-284	128	20	source	source	NOUN
faba-284	128	21	:	:	PUNCT
faba-284	128	22	authors	author	NOUN
faba-284	128	23	’	’	PART
faba-284	128	24	data	datum	NOUN
faba-284	128	25	(	(	PUNCT
faba-284	128	26	https://www.tradingview.com/	https://www.tradingview.com/	NOUN
faba-284	128	27	platform	platform	NOUN
faba-284	128	28	)	)	PUNCT
faba-284	128	29	figure	figure	NOUN
faba-284	128	30	4	4	NUM
faba-284	128	31	.	.	PUNCT
faba-284	128	32	rsi	rsi	PROPN
faba-284	128	33	indicator	indicator	NOUN
faba-284	128	34	macd	macd	NOUN
faba-284	128	35	the	the	DET
faba-284	128	36	moving	move	VERB
faba-284	128	37	average	average	ADJ
faba-284	128	38	convergence	convergence	NOUN
faba-284	128	39	divergence	divergence	NOUN
faba-284	128	40	(	(	PUNCT
faba-284	128	41	macd	macd	NOUN
faba-284	128	42	)	)	PUNCT
faba-284	128	43	is	be	AUX
faba-284	128	44	used	use	VERB
faba-284	128	45	in	in	ADP
faba-284	128	46	financial	financial	ADJ
faba-284	128	47	analysis	analysis	NOUN
faba-284	128	48	,	,	PUNCT
faba-284	128	49	including	include	VERB
faba-284	128	50	stock	stock	NOUN
faba-284	128	51	,	,	PUNCT
faba-284	128	52	cryptocurrency	cryptocurrency	NOUN
faba-284	128	53	,	,	PUNCT
faba-284	128	54	and	and	CCONJ
faba-284	128	55	other	other	ADJ
faba-284	128	56	asset	asset	NOUN
faba-284	128	57	trading	trading	NOUN
faba-284	128	58	.	.	PUNCT
faba-284	129	1	the	the	DET
faba-284	129	2	macd	macd	NOUN
faba-284	129	3	is	be	AUX
faba-284	129	4	used	use	VERB
faba-284	129	5	to	to	PART
faba-284	129	6	analyze	analyze	VERB
faba-284	129	7	the	the	DET
faba-284	129	8	strength	strength	NOUN
faba-284	129	9	and	and	CCONJ
faba-284	129	10	direction	direction	NOUN
faba-284	129	11	of	of	ADP
faba-284	129	12	a	a	DET
faba-284	129	13	price	price	NOUN
faba-284	129	14	trend	trend	NOUN
faba-284	129	15	and	and	CCONJ
faba-284	129	16	to	to	PART
faba-284	129	17	identify	identify	VERB
faba-284	129	18	potential	potential	ADJ
faba-284	129	19	trend	trend	NOUN
faba-284	129	20	reversals	reversal	NOUN
faba-284	129	21	.	.	PUNCT
faba-284	130	1	it	it	PRON
faba-284	130	2	consists	consist	VERB
faba-284	130	3	of	of	ADP
faba-284	130	4	three	three	NUM
faba-284	130	5	main	main	ADJ
faba-284	130	6	components	component	NOUN
faba-284	130	7	:	:	PUNCT
faba-284	130	8			NOUN
faba-284	130	9	macd	macd	NOUN
faba-284	130	10	line	line	NOUN
faba-284	130	11	(	(	PUNCT
faba-284	130	12	blue	blue	ADJ
faba-284	130	13	line	line	NOUN
faba-284	130	14	):	):	PUNCT
faba-284	130	15	the	the	DET
faba-284	130	16	macd	macd	NOUN
faba-284	130	17	line	line	NOUN
faba-284	130	18	is	be	AUX
faba-284	130	19	calculated	calculate	VERB
faba-284	130	20	by	by	ADP
faba-284	130	21	subtracting	subtract	VERB
faba-284	130	22	the	the	DET
faba-284	130	23	26	26	NUM
faba-284	130	24	-	-	PUNCT
faba-284	130	25	period	period	NOUN
faba-284	130	26	ema	ema	NOUN
faba-284	130	27	from	from	ADP
faba-284	130	28	the	the	DET
faba-284	130	29	12	12	NUM
faba-284	130	30	-	-	PUNCT
faba-284	130	31	period	period	NOUN
faba-284	130	32	ema	ema	NOUN
faba-284	130	33	.	.	PUNCT
faba-284	131	1	the	the	DET
faba-284	131	2	result	result	NOUN
faba-284	131	3	is	be	AUX
faba-284	131	4	plotted	plot	VERB
faba-284	131	5	as	as	ADP
faba-284	131	6	a	a	DET
faba-284	131	7	continuous	continuous	ADJ
faba-284	131	8	line	line	NOUN
faba-284	131	9	on	on	ADP
faba-284	131	10	a	a	DET
faba-284	131	11	chart	chart	NOUN
faba-284	131	12	.	.	PUNCT
faba-284	132	1			PROPN
faba-284	132	2	signal	signal	PROPN
faba-284	132	3	line	line	NOUN
faba-284	132	4	(	(	PUNCT
faba-284	132	5	orange	orange	ADJ
faba-284	132	6	line	line	NOUN
faba-284	132	7	):	):	PUNCT
faba-284	132	8	the	the	DET
faba-284	132	9	signal	signal	ADJ
faba-284	132	10	line	line	NOUN
faba-284	132	11	,	,	PUNCT
faba-284	132	12	also	also	ADV
faba-284	132	13	known	know	VERB
faba-284	132	14	as	as	ADP
faba-284	132	15	the	the	DET
faba-284	132	16	9	9	NUM
faba-284	132	17	-	-	PUNCT
faba-284	132	18	period	period	NOUN
faba-284	132	19	ema	ema	NOUN
faba-284	132	20	of	of	ADP
faba-284	132	21	the	the	DET
faba-284	132	22	macd	macd	NOUN
faba-284	132	23	line	line	NOUN
faba-284	132	24	,	,	PUNCT
faba-284	132	25	is	be	AUX
faba-284	132	26	plotted	plot	VERB
faba-284	132	27	on	on	ADP
faba-284	132	28	the	the	DET
faba-284	132	29	same	same	ADJ
faba-284	132	30	chart	chart	NOUN
faba-284	132	31	.	.	PUNCT
faba-284	133	1	it	it	PRON
faba-284	133	2	helps	help	VERB
faba-284	133	3	smooth	smooth	VERB
faba-284	133	4	out	out	ADP
faba-284	133	5	the	the	DET
faba-284	133	6	macd	macd	NOUN
faba-284	133	7	line	line	NOUN
faba-284	133	8	and	and	CCONJ
faba-284	133	9	provides	provide	VERB
faba-284	133	10	signals	signal	NOUN
faba-284	133	11	for	for	ADP
faba-284	133	12	potential	potential	ADJ
faba-284	133	13	buy	buy	NOUN
faba-284	133	14	or	or	CCONJ
faba-284	133	15	sell	sell	VERB
faba-284	133	16	opportunities	opportunity	NOUN
faba-284	133	17	.	.	PUNCT
faba-284	134	1			PROPN
faba-284	134	2	histogram	histogram	NOUN
faba-284	134	3	(	(	PUNCT
faba-284	134	4	bar	bar	NOUN
faba-284	134	5	graph	graph	NOUN
faba-284	134	6	):	):	PUNCT
faba-284	134	7	the	the	DET
faba-284	134	8	histogram	histogram	NOUN
faba-284	134	9	is	be	AUX
faba-284	134	10	the	the	DET
faba-284	134	11	visual	visual	ADJ
faba-284	134	12	representation	representation	NOUN
faba-284	134	13	of	of	ADP
faba-284	134	14	the	the	DET
faba-284	134	15	difference	difference	NOUN
faba-284	134	16	between	between	ADP
faba-284	134	17	the	the	DET
faba-284	134	18	macd	macd	NOUN
faba-284	134	19	line	line	NOUN
faba-284	134	20	and	and	CCONJ
faba-284	134	21	the	the	DET
faba-284	134	22	signal	signal	ADJ
faba-284	134	23	line	line	NOUN
faba-284	134	24	.	.	PUNCT
faba-284	135	1	it	it	PRON
faba-284	135	2	is	be	AUX
faba-284	135	3	plotted	plot	VERB
faba-284	135	4	as	as	ADP
faba-284	135	5	vertical	vertical	ADJ
faba-284	135	6	bars	bar	NOUN
faba-284	135	7	on	on	ADP
faba-284	135	8	a	a	DET
faba-284	135	9	chart	chart	NOUN
faba-284	135	10	.	.	PUNCT
faba-284	136	1	the	the	DET
faba-284	136	2	height	height	NOUN
faba-284	136	3	of	of	ADP
faba-284	136	4	each	each	DET
faba-284	136	5	bar	bar	NOUN
faba-284	136	6	represents	represent	VERB
faba-284	136	7	the	the	DET
faba-284	136	8	divergence	divergence	NOUN
faba-284	136	9	between	between	ADP
faba-284	136	10	the	the	DET
faba-284	136	11	two	two	NUM
faba-284	136	12	lines	line	NOUN
faba-284	136	13	.	.	PUNCT
faba-284	137	1	source	source	NOUN
faba-284	137	2	:	:	PUNCT
faba-284	137	3	authors	author	NOUN
faba-284	137	4	’	’	PART
faba-284	137	5	data	datum	NOUN
faba-284	137	6	(	(	PUNCT
faba-284	137	7	https://www.tradingview.com/	https://www.tradingview.com/	NOUN
faba-284	137	8	platform	platform	NOUN
faba-284	137	9	)	)	PUNCT
faba-284	137	10	figure	figure	NOUN
faba-284	137	11	5	5	NUM
faba-284	137	12	.	.	PUNCT
faba-284	137	13	macd	macd	NOUN
faba-284	137	14	indicator	indicator	NOUN
faba-284	137	15	the	the	DET
faba-284	137	16	common	common	ADJ
faba-284	137	17	ways	way	NOUN
faba-284	137	18	to	to	PART
faba-284	137	19	interpret	interpret	VERB
faba-284	137	20	the	the	DET
faba-284	137	21	macd	macd	NOUN
faba-284	137	22	are	be	AUX
faba-284	137	23	the	the	DET
faba-284	137	24	following	following	NOUN
faba-284	137	25	:	:	PUNCT
faba-284	137	26			PRON
faba-284	137	27	crossovers	crossover	NOUN
faba-284	137	28	:	:	PUNCT
faba-284	137	29	when	when	SCONJ
faba-284	137	30	the	the	DET
faba-284	137	31	macd	macd	NOUN
faba-284	137	32	line	line	NOUN
faba-284	137	33	crosses	crosse	NOUN
faba-284	137	34	above	above	ADP
faba-284	137	35	the	the	DET
faba-284	137	36	signal	signal	ADJ
faba-284	137	37	line	line	NOUN
faba-284	137	38	,	,	PUNCT
faba-284	137	39	it	it	PRON
faba-284	137	40	generates	generate	VERB
faba-284	137	41	a	a	DET
faba-284	137	42	bullish	bullish	ADJ
faba-284	137	43	signal	signal	NOUN
faba-284	137	44	,	,	PUNCT
faba-284	137	45	suggesting	suggest	VERB
faba-284	137	46	it	it	PRON
faba-284	137	47	may	may	AUX
faba-284	137	48	be	be	AUX
faba-284	137	49	a	a	DET
faba-284	137	50	good	good	ADJ
faba-284	137	51	time	time	NOUN
faba-284	137	52	to	to	PART
faba-284	137	53	buy	buy	VERB
faba-284	137	54	.	.	PUNCT
faba-284	138	1	conversely	conversely	ADV
faba-284	138	2	,	,	PUNCT
faba-284	138	3	when	when	SCONJ
faba-284	138	4	the	the	DET
faba-284	138	5	macd	macd	NOUN
faba-284	138	6	line	line	NOUN
faba-284	138	7	crosses	crosse	NOUN
faba-284	138	8	below	below	ADP
faba-284	138	9	the	the	DET
faba-284	138	10	signal	signal	ADJ
faba-284	138	11	line	line	NOUN
faba-284	138	12	,	,	PUNCT
faba-284	138	13	it	it	PRON
faba-284	138	14	generates	generate	VERB
faba-284	138	15	a	a	DET
faba-284	138	16	bearish	bearish	ADJ
faba-284	138	17	signal	signal	NOUN
faba-284	138	18	,	,	PUNCT
faba-284	138	19	suggesting	suggest	VERB
faba-284	138	20	it	it	PRON
faba-284	138	21	may	may	AUX
faba-284	138	22	be	be	AUX
faba-284	138	23	a	a	DET
faba-284	138	24	good	good	ADJ
faba-284	138	25	time	time	NOUN
faba-284	138	26	to	to	PART
faba-284	138	27	sell	sell	VERB
faba-284	138	28	.	.	PUNCT
faba-284	139	1	https://www.tradingview.com/?utm_source=chatgpt.com	https://www.tradingview.com/?utm_source=chatgpt.com	PROPN
faba-284	139	2	https://www.tradingview.com/?utm_source=chatgpt.com	https://www.tradingview.com/?utm_source=chatgpt.com	PROPN
faba-284	139	3	alejandro	alejandro	PROPN
faba-284	139	4	rabinovich	rabinovich	PROPN
faba-284	139	5	/	/	SYM
faba-284	139	6	finance	finance	NOUN
faba-284	139	7	,	,	PUNCT
faba-284	139	8	accounting	accounting	NOUN
faba-284	139	9	and	and	CCONJ
faba-284	139	10	business	business	NOUN
faba-284	139	11	analysis	analysis	NOUN
faba-284	139	12	,	,	PUNCT
faba-284	139	13	volume	volume	NOUN
faba-284	139	14	7	7	NUM
faba-284	139	15	,	,	PUNCT
faba-284	139	16	issue	issue	NOUN
faba-284	139	17	2	2	NUM
faba-284	139	18	,	,	PUNCT
faba-284	139	19	2025	2025	NUM
faba-284	139	20	258	258	NUM
faba-284	139	21			PRON
faba-284	139	22	histogram	histogram	NOUN
faba-284	139	23	:	:	PUNCT
faba-284	139	24	the	the	DET
faba-284	139	25	histogram	histogram	NOUN
faba-284	139	26	is	be	AUX
faba-284	139	27	used	use	VERB
faba-284	139	28	to	to	PART
faba-284	139	29	visualize	visualize	VERB
faba-284	139	30	the	the	DET
faba-284	139	31	momentum	momentum	NOUN
faba-284	139	32	of	of	ADP
faba-284	139	33	a	a	DET
faba-284	139	34	trend	trend	NOUN
faba-284	139	35	.	.	PUNCT
faba-284	140	1	when	when	SCONJ
faba-284	140	2	it	it	PRON
faba-284	140	3	moves	move	VERB
faba-284	140	4	above	above	ADP
faba-284	140	5	the	the	DET
faba-284	140	6	zero	zero	NUM
faba-284	140	7	line	line	NOUN
faba-284	140	8	,	,	PUNCT
faba-284	140	9	it	it	PRON
faba-284	140	10	indicates	indicate	VERB
faba-284	140	11	increasing	increase	VERB
faba-284	140	12	bullish	bullish	ADJ
faba-284	140	13	momentum	momentum	NOUN
faba-284	140	14	.	.	PUNCT
faba-284	141	1	when	when	SCONJ
faba-284	141	2	it	it	PRON
faba-284	141	3	moves	move	VERB
faba-284	141	4	below	below	ADP
faba-284	141	5	the	the	DET
faba-284	141	6	zero	zero	NUM
faba-284	141	7	line	line	NOUN
faba-284	141	8	,	,	PUNCT
faba-284	141	9	it	it	PRON
faba-284	141	10	indicates	indicate	VERB
faba-284	141	11	increasing	increase	VERB
faba-284	141	12	bearish	bearish	ADJ
faba-284	141	13	momentum	momentum	NOUN
faba-284	141	14	.	.	PUNCT
faba-284	142	1			PRON
faba-284	142	2	divergence	divergence	NOUN
faba-284	142	3	:	:	PUNCT
faba-284	142	4	traders	trader	NOUN
faba-284	142	5	also	also	ADV
faba-284	142	6	look	look	VERB
faba-284	142	7	for	for	ADP
faba-284	142	8	divergences	divergence	NOUN
faba-284	142	9	between	between	ADP
faba-284	142	10	the	the	DET
faba-284	142	11	macd	macd	NOUN
faba-284	142	12	and	and	CCONJ
faba-284	142	13	the	the	DET
faba-284	142	14	price	price	NOUN
faba-284	142	15	.	.	PUNCT
faba-284	143	1	for	for	ADP
faba-284	143	2	example	example	NOUN
faba-284	143	3	,	,	PUNCT
faba-284	143	4	if	if	SCONJ
faba-284	143	5	the	the	DET
faba-284	143	6	price	price	NOUN
faba-284	143	7	is	be	AUX
faba-284	143	8	making	make	VERB
faba-284	143	9	lower	low	ADJ
faba-284	143	10	lows	low	NOUN
faba-284	143	11	while	while	SCONJ
faba-284	143	12	the	the	DET
faba-284	143	13	macd	macd	NOUN
faba-284	143	14	is	be	AUX
faba-284	143	15	making	make	VERB
faba-284	143	16	higher	high	ADJ
faba-284	143	17	lows	low	NOUN
faba-284	143	18	,	,	PUNCT
faba-284	143	19	it	it	PRON
faba-284	143	20	may	may	AUX
faba-284	143	21	signal	signal	VERB
faba-284	143	22	a	a	DET
faba-284	143	23	potential	potential	ADJ
faba-284	143	24	bullish	bullish	ADJ
faba-284	143	25	reversal	reversal	NOUN
faba-284	143	26	,	,	PUNCT
faba-284	143	27	and	and	CCONJ
faba-284	143	28	vice	vice	ADV
faba-284	143	29	versa	versa	ADV
faba-284	143	30	.	.	PUNCT
faba-284	144	1	divergences	divergence	NOUN
faba-284	144	2	divergences	divergence	NOUN
faba-284	144	3	in	in	ADP
faba-284	144	4	the	the	DET
faba-284	144	5	context	context	NOUN
faba-284	144	6	of	of	ADP
faba-284	144	7	cryptocurrency	cryptocurrency	NOUN
faba-284	144	8	trading	trading	NOUN
faba-284	144	9	refer	refer	NOUN
faba-284	144	10	to	to	ADP
faba-284	144	11	a	a	DET
faba-284	144	12	situation	situation	NOUN
faba-284	144	13	where	where	SCONJ
faba-284	144	14	the	the	DET
faba-284	144	15	price	price	NOUN
faba-284	144	16	of	of	ADP
faba-284	144	17	a	a	DET
faba-284	144	18	cryptocurrency	cryptocurrency	NOUN
faba-284	144	19	and	and	CCONJ
faba-284	144	20	a	a	DET
faba-284	144	21	technical	technical	ADJ
faba-284	144	22	indicator	indicator	NOUN
faba-284	144	23	(	(	PUNCT
faba-284	144	24	rsi	rsi	NOUN
faba-284	144	25	,	,	PUNCT
faba-284	144	26	macd	macd	NOUN
faba-284	144	27	or	or	CCONJ
faba-284	144	28	other	other	ADJ
faba-284	144	29	oscillators	oscillator	NOUN
faba-284	144	30	)	)	PUNCT
faba-284	144	31	move	move	NOUN
faba-284	144	32	in	in	ADP
faba-284	144	33	opposite	opposite	ADJ
faba-284	144	34	directions	direction	NOUN
faba-284	144	35	or	or	CCONJ
faba-284	144	36	show	show	VERB
faba-284	144	37	a	a	DET
faba-284	144	38	disparity	disparity	NOUN
faba-284	144	39	.	.	PUNCT
faba-284	145	1	these	these	DET
faba-284	145	2	divergences	divergence	NOUN
faba-284	145	3	can	can	AUX
faba-284	145	4	provide	provide	VERB
faba-284	145	5	traders	trader	NOUN
faba-284	145	6	with	with	ADP
faba-284	145	7	important	important	ADJ
faba-284	145	8	signals	signal	NOUN
faba-284	145	9	about	about	ADP
faba-284	145	10	potential	potential	ADJ
faba-284	145	11	trend	trend	NOUN
faba-284	145	12	reversals	reversal	NOUN
faba-284	145	13	or	or	CCONJ
faba-284	145	14	shifts	shift	NOUN
faba-284	145	15	in	in	ADP
faba-284	145	16	market	market	NOUN
faba-284	145	17	sentiment	sentiment	NOUN
faba-284	145	18	(	(	PUNCT
faba-284	145	19	cryptojellenl	cryptojellenl	NOUN
faba-284	145	20	2022	2022	NUM
faba-284	145	21	)	)	PUNCT
faba-284	145	22	.	.	PUNCT
faba-284	146	1	there	there	PRON
faba-284	146	2	are	be	VERB
faba-284	146	3	two	two	NUM
faba-284	146	4	main	main	ADJ
faba-284	146	5	types	type	NOUN
faba-284	146	6	of	of	ADP
faba-284	146	7	divergences	divergence	NOUN
faba-284	146	8	in	in	ADP
faba-284	146	9	cryptocurrency	cryptocurrency	NOUN
faba-284	146	10	trading	trading	NOUN
faba-284	146	11	:	:	PUNCT
faba-284	146	12	bullish	bullish	ADJ
faba-284	146	13	and	and	CCONJ
faba-284	146	14	bearish	bearish	ADJ
faba-284	146	15	divergences	divergence	NOUN
faba-284	146	16	.	.	PUNCT
faba-284	147	1			X
faba-284	147	2	bullish	bullish	ADJ
faba-284	147	3	divergence	divergence	NOUN
faba-284	147	4	:	:	PUNCT
faba-284	147	5	occurs	occur	VERB
faba-284	147	6	when	when	SCONJ
faba-284	147	7	the	the	DET
faba-284	147	8	price	price	NOUN
faba-284	147	9	of	of	ADP
faba-284	147	10	an	an	DET
faba-284	147	11	asset	asset	NOUN
faba-284	147	12	is	be	AUX
faba-284	147	13	making	make	VERB
faba-284	147	14	lower	low	ADJ
faba-284	147	15	lows	low	NOUN
faba-284	147	16	,	,	PUNCT
faba-284	147	17	but	but	CCONJ
faba-284	147	18	the	the	DET
faba-284	147	19	technical	technical	ADJ
faba-284	147	20	indicator	indicator	NOUN
faba-284	147	21	is	be	AUX
faba-284	147	22	making	make	VERB
faba-284	147	23	higher	high	ADJ
faba-284	147	24	lows	low	NOUN
faba-284	147	25	.	.	PUNCT
faba-284	148	1	this	this	PRON
faba-284	148	2	can	can	AUX
faba-284	148	3	be	be	AUX
faba-284	148	4	an	an	DET
faba-284	148	5	early	early	ADJ
faba-284	148	6	indication	indication	NOUN
faba-284	148	7	of	of	ADP
faba-284	148	8	a	a	DET
faba-284	148	9	potential	potential	ADJ
faba-284	148	10	upward	upward	ADJ
faba-284	148	11	price	price	NOUN
faba-284	148	12	reversal	reversal	NOUN
faba-284	148	13	.	.	PUNCT
faba-284	149	1	it	it	PRON
faba-284	149	2	suggests	suggest	VERB
faba-284	149	3	that	that	SCONJ
faba-284	149	4	while	while	SCONJ
faba-284	149	5	the	the	DET
faba-284	149	6	price	price	NOUN
faba-284	149	7	is	be	AUX
faba-284	149	8	still	still	ADV
faba-284	149	9	in	in	ADP
faba-284	149	10	a	a	DET
faba-284	149	11	downtrend	downtrend	NOUN
faba-284	149	12	,	,	PUNCT
faba-284	149	13	the	the	DET
faba-284	149	14	momentum	momentum	NOUN
faba-284	149	15	or	or	CCONJ
faba-284	149	16	strength	strength	NOUN
faba-284	149	17	of	of	ADP
faba-284	149	18	the	the	DET
faba-284	149	19	downtrend	downtrend	NOUN
faba-284	149	20	is	be	AUX
faba-284	149	21	weakening	weaken	VERB
faba-284	149	22	,	,	PUNCT
faba-284	149	23	and	and	CCONJ
faba-284	149	24	a	a	DET
faba-284	149	25	bullish	bullish	ADJ
faba-284	149	26	reversal	reversal	NOUN
faba-284	149	27	may	may	AUX
faba-284	149	28	be	be	AUX
faba-284	149	29	imminent	imminent	ADJ
faba-284	149	30	.	.	PUNCT
faba-284	150	1	bullish	bullish	ADJ
faba-284	150	2	divergences	divergence	NOUN
faba-284	150	3	are	be	AUX
faba-284	150	4	often	often	ADV
faba-284	150	5	seen	see	VERB
faba-284	150	6	as	as	ADP
faba-284	150	7	a	a	DET
faba-284	150	8	buying	buying	NOUN
faba-284	150	9	signal	signal	NOUN
faba-284	150	10	.	.	PUNCT
faba-284	151	1			X
faba-284	151	2	bearish	bearish	ADJ
faba-284	151	3	divergence	divergence	NOUN
faba-284	151	4	:	:	PUNCT
faba-284	151	5	occurs	occur	VERB
faba-284	151	6	when	when	SCONJ
faba-284	151	7	the	the	DET
faba-284	151	8	price	price	NOUN
faba-284	151	9	of	of	ADP
faba-284	151	10	a	a	DET
faba-284	151	11	cryptocurrency	cryptocurrency	NOUN
faba-284	151	12	is	be	AUX
faba-284	151	13	making	make	VERB
faba-284	151	14	higher	high	ADJ
faba-284	151	15	highs	high	NOUN
faba-284	151	16	,	,	PUNCT
faba-284	151	17	but	but	CCONJ
faba-284	151	18	the	the	DET
faba-284	151	19	technical	technical	ADJ
faba-284	151	20	indicator	indicator	NOUN
faba-284	151	21	is	be	AUX
faba-284	151	22	making	make	VERB
faba-284	151	23	lower	low	ADJ
faba-284	151	24	highs	high	NOUN
faba-284	151	25	.	.	PUNCT
faba-284	152	1	this	this	PRON
faba-284	152	2	can	can	AUX
faba-284	152	3	be	be	AUX
faba-284	152	4	a	a	DET
faba-284	152	5	warning	warning	NOUN
faba-284	152	6	sign	sign	NOUN
faba-284	152	7	of	of	ADP
faba-284	152	8	a	a	DET
faba-284	152	9	potential	potential	ADJ
faba-284	152	10	downward	downward	ADJ
faba-284	152	11	price	price	NOUN
faba-284	152	12	reversal	reversal	NOUN
faba-284	152	13	.	.	PUNCT
faba-284	153	1	it	it	PRON
faba-284	153	2	suggests	suggest	VERB
faba-284	153	3	that	that	SCONJ
faba-284	153	4	although	although	SCONJ
faba-284	153	5	the	the	DET
faba-284	153	6	price	price	NOUN
faba-284	153	7	is	be	AUX
faba-284	153	8	still	still	ADV
faba-284	153	9	in	in	ADP
faba-284	153	10	an	an	DET
faba-284	153	11	uptrend	uptrend	NOUN
faba-284	153	12	,	,	PUNCT
faba-284	153	13	the	the	DET
faba-284	153	14	momentum	momentum	NOUN
faba-284	153	15	or	or	CCONJ
faba-284	153	16	strength	strength	NOUN
faba-284	153	17	of	of	ADP
faba-284	153	18	the	the	DET
faba-284	153	19	uptrend	uptrend	NOUN
faba-284	153	20	is	be	AUX
faba-284	153	21	waning	wane	VERB
faba-284	153	22	,	,	PUNCT
faba-284	153	23	and	and	CCONJ
faba-284	153	24	a	a	DET
faba-284	153	25	bearish	bearish	ADJ
faba-284	153	26	reversal	reversal	NOUN
faba-284	153	27	may	may	AUX
faba-284	153	28	be	be	AUX
faba-284	153	29	approaching	approach	VERB
faba-284	153	30	.	.	PUNCT
faba-284	154	1	bearish	bearish	ADJ
faba-284	154	2	divergences	divergence	NOUN
faba-284	154	3	are	be	AUX
faba-284	154	4	often	often	ADV
faba-284	154	5	seen	see	VERB
faba-284	154	6	as	as	ADP
faba-284	154	7	a	a	DET
faba-284	154	8	selling	selling	NOUN
faba-284	154	9	signal	signal	NOUN
faba-284	154	10	.	.	PUNCT
faba-284	155	1	btc	btc	ADJ
faba-284	155	2	halving	halving	NOUN
faba-284	155	3	event	event	NOUN
faba-284	155	4	this	this	PRON
faba-284	155	5	is	be	AUX
faba-284	155	6	not	not	PART
faba-284	155	7	an	an	DET
faba-284	155	8	indicator	indicator	NOUN
faba-284	155	9	,	,	PUNCT
faba-284	155	10	as	as	SCONJ
faba-284	155	11	the	the	DET
faba-284	155	12	previously	previously	ADV
faba-284	155	13	described	describe	VERB
faba-284	155	14	,	,	PUNCT
faba-284	155	15	but	but	CCONJ
faba-284	155	16	rather	rather	ADV
faba-284	155	17	an	an	DET
faba-284	155	18	event	event	NOUN
faba-284	155	19	that	that	PRON
faba-284	155	20	is	be	AUX
faba-284	155	21	programmed	program	VERB
faba-284	155	22	into	into	ADP
faba-284	155	23	the	the	DET
faba-284	155	24	btc	btc	ADJ
faba-284	155	25	protocol	protocol	NOUN
faba-284	155	26	and	and	CCONJ
faba-284	155	27	occurs	occur	VERB
faba-284	155	28	approximately	approximately	ADV
faba-284	155	29	every	every	DET
faba-284	155	30	4	4	NUM
faba-284	155	31	years	year	NOUN
faba-284	155	32	.	.	PUNCT
faba-284	156	1	every	every	DET
faba-284	156	2	210,000	210,000	NUM
faba-284	156	3	blocks	block	NOUN
faba-284	156	4	mined	mine	VERB
faba-284	156	5	,	,	PUNCT
faba-284	156	6	the	the	DET
faba-284	156	7	reward	reward	NOUN
faba-284	156	8	that	that	PRON
faba-284	156	9	miners	miner	NOUN
faba-284	156	10	receive	receive	VERB
faba-284	156	11	is	be	AUX
faba-284	156	12	halved	halve	VERB
faba-284	156	13	,	,	PUNCT
faba-284	156	14	making	make	VERB
faba-284	156	15	the	the	DET
faba-284	156	16	asset	asset	NOUN
faba-284	156	17	scarcer	scarcer	NOUN
faba-284	156	18	.	.	PUNCT
faba-284	157	1	the	the	DET
faba-284	157	2	first	first	ADJ
faba-284	157	3	halving	halving	NOUN
faba-284	157	4	occurred	occur	VERB
faba-284	157	5	in	in	ADP
faba-284	157	6	2012	2012	NUM
faba-284	157	7	when	when	SCONJ
faba-284	157	8	the	the	DET
faba-284	157	9	reward	reward	NOUN
faba-284	157	10	went	go	VERB
faba-284	157	11	from	from	ADP
faba-284	157	12	50	50	NUM
faba-284	157	13	to	to	PART
faba-284	157	14	25	25	NUM
faba-284	157	15	btcs	btcs	NOUN
faba-284	157	16	per	per	ADP
faba-284	157	17	block	block	NOUN
faba-284	157	18	.	.	PUNCT
faba-284	158	1	the	the	DET
faba-284	158	2	second	second	ADJ
faba-284	158	3	halving	halving	NOUN
faba-284	158	4	occurred	occur	VERB
faba-284	158	5	in	in	ADP
faba-284	158	6	2016	2016	NUM
faba-284	158	7	,	,	PUNCT
faba-284	158	8	reducing	reduce	VERB
faba-284	158	9	the	the	DET
faba-284	158	10	reward	reward	NOUN
faba-284	158	11	to	to	ADP
faba-284	158	12	12.5	12.5	NUM
faba-284	158	13	btcs	btcs	NOUN
faba-284	158	14	.	.	PUNCT
faba-284	159	1	the	the	DET
faba-284	159	2	third	third	ADJ
faba-284	159	3	halving	halving	NOUN
faba-284	159	4	occurred	occur	VERB
faba-284	159	5	in	in	ADP
faba-284	159	6	2020	2020	NUM
faba-284	159	7	,	,	PUNCT
faba-284	159	8	bringing	bring	VERB
faba-284	159	9	the	the	DET
faba-284	159	10	reward	reward	NOUN
faba-284	159	11	down	down	ADP
faba-284	159	12	to	to	ADP
faba-284	159	13	6.25	6.25	NUM
faba-284	159	14	btcs	btcs	NOUN
faba-284	159	15	.	.	PUNCT
faba-284	160	1	the	the	DET
faba-284	160	2	last	last	ADJ
faba-284	160	3	btc	btc	ADJ
faba-284	160	4	halving	halving	NOUN
faba-284	160	5	is	be	AUX
faba-284	160	6	due	due	ADJ
faba-284	160	7	to	to	PART
faba-284	160	8	occur	occur	VERB
faba-284	160	9	around	around	ADP
faba-284	160	10	the	the	DET
faba-284	160	11	year	year	NOUN
faba-284	160	12	2140	2140	NUM
faba-284	160	13	.	.	PUNCT
faba-284	161	1	this	this	DET
faba-284	161	2	event	event	NOUN
faba-284	161	3	is	be	AUX
faba-284	161	4	of	of	ADP
faba-284	161	5	importance	importance	NOUN
faba-284	161	6	because	because	SCONJ
faba-284	161	7	it	it	PRON
faba-284	161	8	is	be	AUX
faba-284	161	9	designed	design	VERB
faba-284	161	10	to	to	PART
faba-284	161	11	mimic	mimic	VERB
faba-284	161	12	the	the	DET
faba-284	161	13	scarcity	scarcity	NOUN
faba-284	161	14	of	of	ADP
faba-284	161	15	precious	precious	ADJ
faba-284	161	16	metals	metal	NOUN
faba-284	161	17	like	like	ADP
faba-284	161	18	gold	gold	NOUN
faba-284	161	19	.	.	PUNCT
faba-284	162	1	by	by	ADP
faba-284	162	2	reducing	reduce	VERB
faba-284	162	3	the	the	DET
faba-284	162	4	rate	rate	NOUN
faba-284	162	5	at	at	ADP
faba-284	162	6	which	which	PRON
faba-284	162	7	new	new	ADJ
faba-284	162	8	btcs	btcs	NOUN
faba-284	162	9	are	be	AUX
faba-284	162	10	created	create	VERB
faba-284	162	11	,	,	PUNCT
faba-284	162	12	the	the	DET
faba-284	162	13	total	total	ADJ
faba-284	162	14	supply	supply	NOUN
faba-284	162	15	is	be	AUX
faba-284	162	16	capped	cap	VERB
faba-284	162	17	at	at	ADP
faba-284	162	18	21	21	NUM
faba-284	162	19	million	million	NUM
faba-284	162	20	,	,	PUNCT
faba-284	162	21	creating	create	VERB
faba-284	162	22	a	a	DET
faba-284	162	23	deflationary	deflationary	ADJ
faba-284	162	24	model	model	NOUN
faba-284	162	25	.	.	PUNCT
faba-284	163	1	source	source	NOUN
faba-284	163	2	:	:	PUNCT
faba-284	163	3	authors	author	NOUN
faba-284	163	4	’	’	PART
faba-284	163	5	data	datum	NOUN
faba-284	163	6	(	(	PUNCT
faba-284	163	7	https://www.tradingview.com/	https://www.tradingview.com/	NOUN
faba-284	163	8	platform	platform	NOUN
faba-284	163	9	)	)	PUNCT
faba-284	163	10	figure	figure	NOUN
faba-284	163	11	6	6	NUM
faba-284	163	12	.	.	PUNCT
faba-284	164	1	halvings	halving	NOUN
faba-284	164	2	strategy	strategy	NOUN
faba-284	164	3	and	and	CCONJ
faba-284	164	4	objectives	objective	VERB
faba-284	164	5	the	the	DET
faba-284	164	6	aim	aim	NOUN
faba-284	164	7	of	of	ADP
faba-284	164	8	the	the	DET
faba-284	164	9	strategy	strategy	NOUN
faba-284	164	10	outline	outline	NOUN
faba-284	164	11	here	here	ADV
faba-284	164	12	is	be	AUX
faba-284	164	13	to	to	PART
faba-284	164	14	outperform	outperform	VERB
faba-284	164	15	the	the	DET
faba-284	164	16	benchmark	benchmark	NOUN
faba-284	164	17	in	in	ADP
faba-284	164	18	the	the	DET
faba-284	164	19	long	long	ADJ
faba-284	164	20	term	term	NOUN
faba-284	164	21	by	by	ADP
faba-284	164	22	utilizing	utilize	VERB
faba-284	164	23	a	a	DET
faba-284	164	24	mix	mix	NOUN
faba-284	164	25	of	of	ADP
faba-284	164	26	signals	signal	NOUN
faba-284	164	27	from	from	ADP
faba-284	164	28	the	the	DET
faba-284	164	29	indicators	indicator	NOUN
faba-284	164	30	and	and	CCONJ
faba-284	164	31	concepts	concept	NOUN
faba-284	164	32	mentioned	mention	VERB
faba-284	164	33	previously	previously	ADV
faba-284	164	34	;	;	PUNCT
faba-284	164	35	and	and	CCONJ
faba-284	164	36	avoid	avoid	VERB
faba-284	164	37	the	the	DET
faba-284	164	38	periods	period	NOUN
faba-284	164	39	of	of	ADP
faba-284	164	40	drawdown	drawdown	NOUN
faba-284	164	41	https://www.tradingview.com/	https://www.tradingview.com/	NOUN
faba-284	164	42	alejandro	alejandro	PROPN
faba-284	164	43	rabinovich	rabinovich	PROPN
faba-284	164	44	/	/	SYM
faba-284	164	45	finance	finance	NOUN
faba-284	164	46	,	,	PUNCT
faba-284	164	47	accounting	accounting	NOUN
faba-284	164	48	and	and	CCONJ
faba-284	164	49	business	business	NOUN
faba-284	164	50	analysis	analysis	NOUN
faba-284	164	51	,	,	PUNCT
faba-284	164	52	volume	volume	NOUN
faba-284	164	53	7	7	NUM
faba-284	164	54	,	,	PUNCT
faba-284	164	55	issue	issue	NOUN
faba-284	164	56	2	2	NUM
faba-284	164	57	,	,	PUNCT
faba-284	164	58	2025	2025	NUM
faba-284	164	59	259	259	NUM
faba-284	164	60	that	that	PRON
faba-284	164	61	btc	btc	NOUN
faba-284	164	62	has	have	AUX
faba-284	164	63	become	become	VERB
faba-284	164	64	famous	famous	ADJ
faba-284	164	65	for	for	ADP
faba-284	164	66	.	.	PUNCT
faba-284	165	1	this	this	DET
faba-284	165	2	strategy	strategy	NOUN
faba-284	165	3	enters	enter	VERB
faba-284	165	4	a	a	DET
faba-284	165	5	long	long	ADJ
faba-284	165	6	position	position	NOUN
faba-284	165	7	–	–	PUNCT
faba-284	165	8	non	non	ADJ
faba-284	165	9	-	-	ADJ
faba-284	165	10	leveragedand	leveragedand	NOUN
faba-284	165	11	exits	exit	VERB
faba-284	165	12	into	into	ADP
faba-284	165	13	cash	cash	NOUN
faba-284	165	14	according	accord	VERB
faba-284	165	15	to	to	ADP
faba-284	165	16	the	the	DET
faba-284	165	17	signals	signal	NOUN
faba-284	165	18	given	give	VERB
faba-284	165	19	by	by	ADP
faba-284	165	20	the	the	DET
faba-284	165	21	indicators	indicator	NOUN
faba-284	165	22	mentioned	mention	VERB
faba-284	165	23	previously	previously	ADV
faba-284	165	24	.	.	PUNCT
faba-284	166	1	the	the	DET
faba-284	166	2	pi	pi	PROPN
faba-284	166	3	cycle	cycle	NOUN
faba-284	166	4	top	top	ADJ
faba-284	166	5	indicator	indicator	NOUN
faba-284	166	6	,	,	PUNCT
faba-284	166	7	on	on	ADP
faba-284	166	8	a	a	DET
faba-284	166	9	daily	daily	ADJ
faba-284	166	10	frequency	frequency	NOUN
faba-284	166	11	,	,	PUNCT
faba-284	166	12	identifies	identify	VERB
faba-284	166	13	with	with	ADP
faba-284	166	14	great	great	ADJ
faba-284	166	15	accuracy	accuracy	NOUN
faba-284	166	16	the	the	DET
faba-284	166	17	current	current	ADJ
faba-284	166	18	market	market	NOUN
faba-284	166	19	cycle	cycle	NOUN
faba-284	166	20	top	top	ADJ
faba-284	166	21	price	price	NOUN
faba-284	166	22	,	,	PUNCT
faba-284	166	23	thus	thus	ADV
faba-284	166	24	acting	act	VERB
faba-284	166	25	as	as	ADP
faba-284	166	26	a	a	DET
faba-284	166	27	sell	sell	NOUN
faba-284	166	28	signal	signal	NOUN
faba-284	166	29	.	.	PUNCT
faba-284	167	1	the	the	DET
faba-284	167	2	bmsb	bmsb	NOUN
faba-284	167	3	,	,	PUNCT
faba-284	167	4	on	on	ADP
faba-284	167	5	a	a	DET
faba-284	167	6	weekly	weekly	ADJ
faba-284	167	7	frequency	frequency	NOUN
faba-284	167	8	,	,	PUNCT
faba-284	167	9	acts	act	VERB
faba-284	167	10	as	as	ADP
faba-284	167	11	the	the	DET
faba-284	167	12	trigger	trigger	NOUN
faba-284	167	13	for	for	ADP
faba-284	167	14	entering	enter	VERB
faba-284	167	15	or	or	CCONJ
faba-284	167	16	exiting	exit	VERB
faba-284	167	17	a	a	DET
faba-284	167	18	long	long	ADJ
faba-284	167	19	position	position	NOUN
faba-284	167	20	.	.	PUNCT
faba-284	168	1	the	the	DET
faba-284	168	2	market	market	NOUN
faba-284	168	3	cycle	cycle	NOUN
faba-284	168	4	bottom	bottom	NOUN
faba-284	168	5	range	range	NOUN
faba-284	168	6	is	be	AUX
faba-284	168	7	identified	identify	VERB
faba-284	168	8	by	by	ADP
faba-284	168	9	a	a	DET
faba-284	168	10	combination	combination	NOUN
faba-284	168	11	of	of	ADP
faba-284	168	12	signals	signal	NOUN
faba-284	168	13	from	from	ADP
faba-284	168	14	different	different	ADJ
faba-284	168	15	indicators	indicator	NOUN
faba-284	168	16	,	,	PUNCT
faba-284	168	17	that	that	SCONJ
faba-284	168	18	as	as	ADP
faba-284	168	19	a	a	DET
faba-284	168	20	standalone	standalone	NOUN
faba-284	168	21	,	,	PUNCT
faba-284	168	22	do	do	AUX
faba-284	168	23	n’t	not	PART
faba-284	168	24	tell	tell	VERB
faba-284	168	25	much	much	ADJ
faba-284	168	26	.	.	PUNCT
faba-284	169	1	but	but	CCONJ
faba-284	169	2	used	use	VERB
faba-284	169	3	together	together	ADV
faba-284	169	4	give	give	VERB
faba-284	169	5	a	a	DET
faba-284	169	6	strong	strong	ADJ
faba-284	169	7	signal	signal	NOUN
faba-284	169	8	,	,	PUNCT
faba-284	169	9	this	this	PRON
faba-284	169	10	is	be	AUX
faba-284	169	11	known	know	VERB
faba-284	169	12	as	as	ADP
faba-284	169	13	a	a	DET
faba-284	169	14	confluence	confluence	NOUN
faba-284	169	15	.	.	PUNCT
faba-284	170	1	long	long	ADJ
faba-284	170	2	buy	buy	VERB
faba-284	170	3	criteria	criterion	NOUN
faba-284	170	4			NOUN
faba-284	170	5	enter	enter	VERB
faba-284	170	6	long	long	ADJ
faba-284	170	7	position	position	NOUN
faba-284	170	8	when	when	SCONJ
faba-284	170	9	price	price	NOUN
faba-284	170	10	opens	open	VERB
faba-284	170	11	for	for	ADP
faba-284	170	12	two	two	NUM
faba-284	170	13	consecutive	consecutive	ADJ
faba-284	170	14	weekly	weekly	ADJ
faba-284	170	15	candles	candle	NOUN
faba-284	170	16	on	on	ADP
faba-284	170	17	top	top	NOUN
faba-284	170	18	of	of	ADP
faba-284	170	19	bull	bull	NOUN
faba-284	170	20	market	market	NOUN
faba-284	170	21	support	support	NOUN
faba-284	170	22	band	band	NOUN
faba-284	170	23	.	.	PUNCT
faba-284	171	1			X
faba-284	171	2	exception	exception	NOUN
faba-284	171	3	to	to	PART
faba-284	171	4	rule	rule	VERB
faba-284	171	5	,	,	PUNCT
faba-284	171	6	open	open	ADJ
faba-284	171	7	long	long	ADJ
faba-284	171	8	position	position	NOUN
faba-284	171	9	close	close	ADJ
faba-284	171	10	to	to	ADP
faba-284	171	11	market	market	NOUN
faba-284	171	12	cycle	cycle	NOUN
faba-284	171	13	bottom	bottom	NOUN
faba-284	171	14	given	give	VERB
faba-284	171	15	by	by	ADP
faba-284	171	16	the	the	DET
faba-284	171	17	confluence	confluence	NOUN
faba-284	171	18	of	of	ADP
faba-284	171	19	the	the	DET
faba-284	171	20	following	follow	VERB
faba-284	171	21	indicators	indicator	NOUN
faba-284	171	22	:	:	PUNCT
faba-284	171	23	o	o	NOUN
faba-284	171	24	halving	halve	VERB
faba-284	171	25	event	event	NOUN
faba-284	171	26	must	must	AUX
faba-284	171	27	have	have	AUX
faba-284	171	28	occurred	occur	VERB
faba-284	171	29	(	(	PUNCT
faba-284	171	30	1	1	NUM
faba-284	171	31	every	every	DET
faba-284	171	32	4	4	NUM
faba-284	171	33	years	year	NOUN
faba-284	171	34	)	)	PUNCT
faba-284	171	35	.	.	PUNCT
faba-284	172	1	o	o	X
faba-284	172	2	post	post	NOUN
faba-284	172	3	halving	halving	NOUN
faba-284	172	4	,	,	PUNCT
faba-284	172	5	price	price	NOUN
faba-284	172	6	has	have	AUX
faba-284	172	7	closed	close	VERB
faba-284	172	8	below	below	ADP
faba-284	172	9	the	the	DET
faba-284	172	10	bmsb	bmsb	NOUN
faba-284	172	11	(	(	PUNCT
faba-284	172	12	with	with	ADP
faba-284	172	13	a	a	DET
faba-284	172	14	2	2	NUM
faba-284	172	15	weekly	weekly	ADJ
faba-284	172	16	frequency	frequency	NOUN
faba-284	172	17	)	)	PUNCT
faba-284	173	1	o	o	NOUN
faba-284	173	2	price	price	NOUN
faba-284	173	3	must	must	AUX
faba-284	173	4	be	be	AUX
faba-284	173	5	below	below	ADP
faba-284	173	6	bmsb	bmsb	NOUN
faba-284	173	7	(	(	PUNCT
faba-284	173	8	weekly	weekly	ADJ
faba-284	173	9	frequency	frequency	NOUN
faba-284	173	10	)	)	PUNCT
faba-284	174	1	o	o	NOUN
faba-284	174	2	there	there	PRON
faba-284	174	3	must	must	AUX
faba-284	174	4	be	be	AUX
faba-284	174	5	over	over	ADP
faba-284	174	6	105	105	NUM
faba-284	174	7	weekly	weekly	ADJ
faba-284	174	8	candles	candle	NOUN
faba-284	174	9	since	since	SCONJ
faba-284	174	10	the	the	DET
faba-284	174	11	latest	late	ADJ
faba-284	174	12	halving	halving	NOUN
faba-284	174	13	.	.	PUNCT
faba-284	175	1	o	o	X
faba-284	175	2	divergence	divergence	NOUN
faba-284	175	3	in	in	ADP
faba-284	175	4	macd	macd	NOUN
faba-284	175	5	histogram	histogram	NOUN
faba-284	175	6	and	and	CCONJ
faba-284	175	7	btc	btc	ADJ
faba-284	175	8	price	price	NOUN
faba-284	175	9	(	(	PUNCT
faba-284	175	10	weekly	weekly	ADJ
faba-284	175	11	frequency	frequency	NOUN
faba-284	175	12	)	)	PUNCT
faba-284	176	1	o	o	NOUN
faba-284	176	2	weekly	weekly	ADJ
faba-284	176	3	rsi	rsi	NOUN
faba-284	176	4	must	must	AUX
faba-284	176	5	have	have	AUX
faba-284	176	6	bottomed	bottom	VERB
faba-284	176	7	out	out	ADP
faba-284	176	8	in	in	ADP
faba-284	176	9	the	the	DET
faba-284	176	10	oversold	oversold	ADJ
faba-284	176	11	region	region	NOUN
faba-284	176	12	of	of	ADP
faba-284	176	13	30	30	NUM
faba-284	176	14	and	and	CCONJ
faba-284	176	15	higher	high	ADJ
faba-284	176	16	low	low	ADJ
faba-284	176	17	structure	structure	NOUN
faba-284	176	18	confirmed	confirm	VERB
faba-284	176	19	on	on	ADP
faba-284	176	20	rsi	rsi	NOUN
faba-284	176	21	.	.	PUNCT
faba-284	177	1	when	when	SCONJ
faba-284	177	2	all	all	DET
faba-284	177	3	previous	previous	ADJ
faba-284	177	4	signals	signal	NOUN
faba-284	177	5	are	be	AUX
faba-284	177	6	confirmed	confirm	VERB
faba-284	177	7	,	,	PUNCT
faba-284	177	8	higher	high	ADJ
faba-284	177	9	low	low	ADJ
faba-284	177	10	rsi	rsi	NOUN
faba-284	177	11	executes	execute	NOUN
faba-284	177	12	long	long	ADJ
faba-284	177	13	buy	buy	NOUN
faba-284	177	14	.	.	PUNCT
faba-284	178	1	sell	sell	NOUN
faba-284	178	2	criteria	criterion	NOUN
faba-284	178	3			NOUN
faba-284	178	4	when	when	SCONJ
faba-284	178	5	weekly	weekly	ADJ
faba-284	178	6	candle	candle	NOUN
faba-284	178	7	price	price	NOUN
faba-284	178	8	opens	open	VERB
faba-284	178	9	below	below	ADP
faba-284	178	10	bmsb	bmsb	NOUN
faba-284	178	11	.	.	PUNCT
faba-284	179	1			PROPN
faba-284	179	2	pi	pi	PROPN
faba-284	179	3	cycle	cycle	NOUN
faba-284	179	4	top	top	ADJ
faba-284	179	5	signal	signal	NOUN
faba-284	179	6	has	have	AUX
faba-284	179	7	been	be	AUX
faba-284	179	8	confirmed	confirm	VERB
faba-284	179	9	after	after	ADP
faba-284	179	10	daily	daily	ADJ
faba-284	179	11	candle	candle	NOUN
faba-284	179	12	close	close	NOUN
faba-284	179	13	.	.	PUNCT
faba-284	180	1			X
faba-284	180	2	back	back	ADV
faba-284	180	3	-	-	PUNCT
faba-284	180	4	up	up	ADP
faba-284	180	5	signal	signal	NOUN
faba-284	180	6	.	.	PUNCT
faba-284	181	1	in	in	ADP
faba-284	181	2	case	case	NOUN
faba-284	181	3	the	the	DET
faba-284	181	4	pi	pi	PROPN
faba-284	181	5	cycle	cycle	NOUN
faba-284	181	6	top	top	ADJ
faba-284	181	7	signal	signal	NOUN
faba-284	181	8	is	be	AUX
faba-284	181	9	not	not	PART
faba-284	181	10	triggered	trigger	VERB
faba-284	181	11	,	,	PUNCT
faba-284	181	12	the	the	DET
faba-284	181	13	combination	combination	NOUN
faba-284	181	14	of	of	ADP
faba-284	181	15	the	the	DET
faba-284	181	16	following	follow	VERB
faba-284	181	17	indicators	indicator	NOUN
faba-284	181	18	executes	execute	VERB
faba-284	181	19	a	a	DET
faba-284	181	20	sell	sell	NOUN
faba-284	181	21	order	order	NOUN
faba-284	181	22	close	close	ADJ
faba-284	181	23	to	to	ADP
faba-284	181	24	market	market	NOUN
faba-284	181	25	cycle	cycle	NOUN
faba-284	181	26	top	top	NOUN
faba-284	181	27	.	.	PUNCT
faba-284	182	1	for	for	ADP
faba-284	182	2	this	this	PRON
faba-284	182	3	,	,	PUNCT
faba-284	182	4	the	the	DET
faba-284	182	5	weekly	weekly	ADJ
faba-284	182	6	60	60	NUM
faba-284	182	7	sma	sma	NOUN
faba-284	182	8	and	and	CCONJ
faba-284	182	9	90	90	NUM
faba-284	182	10	ema	ema	NOUN
faba-284	182	11	are	be	AUX
faba-284	182	12	used	use	VERB
faba-284	182	13	in	in	ADP
faba-284	182	14	combination	combination	NOUN
faba-284	182	15	with	with	ADP
faba-284	182	16	the	the	DET
faba-284	182	17	macd	macd	NOUN
faba-284	182	18	.	.	PUNCT
faba-284	183	1	once	once	SCONJ
faba-284	183	2	the	the	DET
faba-284	183	3	halving	halving	NOUN
faba-284	183	4	has	have	AUX
faba-284	183	5	occurred	occur	VERB
faba-284	183	6	,	,	PUNCT
faba-284	183	7	the	the	DET
faba-284	183	8	cross	cross	NOUN
faba-284	183	9	over	over	ADP
faba-284	183	10	of	of	ADP
faba-284	183	11	the	the	DET
faba-284	183	12	90	90	NUM
faba-284	183	13	ema	ema	NOUN
faba-284	183	14	on	on	ADP
faba-284	183	15	top	top	NOUN
faba-284	183	16	of	of	ADP
faba-284	183	17	the	the	DET
faba-284	183	18	60	60	NUM
faba-284	183	19	sma	sma	NOUN
faba-284	183	20	,	,	PUNCT
faba-284	183	21	triggers	trigger	VERB
faba-284	183	22	a	a	DET
faba-284	183	23	sell	sell	NOUN
faba-284	183	24	order	order	NOUN
faba-284	183	25	when	when	SCONJ
faba-284	183	26	the	the	DET
faba-284	183	27	macd	macd	NOUN
faba-284	183	28	histogram	histogram	NOUN
faba-284	183	29	has	have	AUX
faba-284	183	30	confirmed	confirm	VERB
faba-284	183	31	and	and	CCONJ
faba-284	183	32	closed	close	VERB
faba-284	183	33	red	red	ADJ
faba-284	183	34	(	(	PUNCT
faba-284	183	35	or	or	CCONJ
faba-284	183	36	the	the	DET
faba-284	183	37	blue	blue	ADJ
faba-284	183	38	line	line	NOUN
faba-284	183	39	crossed	cross	VERB
faba-284	183	40	beneath	beneath	ADP
faba-284	183	41	the	the	DET
faba-284	183	42	orange	orange	NOUN
faba-284	183	43	)	)	PUNCT
faba-284	183	44	.	.	PUNCT
faba-284	184	1	but	but	CCONJ
faba-284	184	2	this	this	DET
faba-284	184	3	signal	signal	NOUN
faba-284	184	4	is	be	AUX
faba-284	184	5	only	only	ADV
faba-284	184	6	valid	valid	ADJ
faba-284	184	7	once	once	ADV
faba-284	184	8	per	per	ADP
faba-284	184	9	cycle	cycle	NOUN
faba-284	184	10	.	.	PUNCT
faba-284	185	1	if	if	SCONJ
faba-284	185	2	the	the	DET
faba-284	185	3	pi	pi	PROPN
faba-284	185	4	cycle	cycle	NOUN
faba-284	185	5	top	top	NOUN
faba-284	185	6	indicator	indicator	NOUN
faba-284	185	7	is	be	AUX
faba-284	185	8	activated	activate	VERB
faba-284	185	9	,	,	PUNCT
faba-284	185	10	the	the	DET
faba-284	185	11	sell	sell	NOUN
faba-284	185	12	order	order	NOUN
faba-284	185	13	of	of	ADP
faba-284	185	14	the	the	DET
faba-284	185	15	back	back	NOUN
faba-284	185	16	-	-	PUNCT
faba-284	185	17	up	up	ADP
faba-284	185	18	signal	signal	NOUN
faba-284	185	19	is	be	AUX
faba-284	185	20	cancelled	cancel	VERB
faba-284	185	21	.	.	PUNCT
faba-284	186	1	and	and	CCONJ
faba-284	186	2	in	in	ADP
faba-284	186	3	case	case	NOUN
faba-284	186	4	the	the	DET
faba-284	186	5	back	back	VERB
faba-284	186	6	-	-	PUNCT
faba-284	186	7	up	up	ADP
faba-284	186	8	signal	signal	NOUN
faba-284	186	9	sell	sell	NOUN
faba-284	186	10	order	order	NOUN
faba-284	186	11	is	be	AUX
faba-284	186	12	executed	execute	VERB
faba-284	186	13	,	,	PUNCT
faba-284	186	14	it	it	PRON
faba-284	186	15	is	be	AUX
faba-284	186	16	retired	retire	VERB
faba-284	186	17	for	for	ADP
faba-284	186	18	the	the	DET
faba-284	186	19	remainder	remainder	NOUN
faba-284	186	20	of	of	ADP
faba-284	186	21	the	the	DET
faba-284	186	22	current	current	ADJ
faba-284	186	23	cycle	cycle	NOUN
faba-284	186	24	.	.	PUNCT
faba-284	187	1	it	it	PRON
faba-284	187	2	will	will	AUX
faba-284	187	3	only	only	ADV
faba-284	187	4	become	become	VERB
faba-284	187	5	active	active	ADJ
faba-284	187	6	again	again	ADV
faba-284	187	7	after	after	ADP
faba-284	187	8	the	the	DET
faba-284	187	9	next	next	ADJ
faba-284	187	10	halving	halving	NOUN
faba-284	187	11	—	—	PUNCT
faba-284	187	12	and	and	CCONJ
faba-284	187	13	only	only	ADV
faba-284	187	14	if	if	SCONJ
faba-284	187	15	,	,	PUNCT
faba-284	187	16	following	follow	VERB
faba-284	187	17	that	that	SCONJ
faba-284	187	18	halving	halving	NOUN
faba-284	187	19	,	,	PUNCT
faba-284	187	20	the	the	DET
faba-284	187	21	90	90	NUM
faba-284	187	22	ema	ema	NOUN
faba-284	187	23	crosses	crosse	NOUN
faba-284	187	24	back	back	ADV
faba-284	187	25	above	above	ADP
faba-284	187	26	the	the	DET
faba-284	187	27	60	60	NUM
faba-284	187	28	sma	sma	NOUN
faba-284	187	29	.	.	PUNCT
faba-284	188	1			PRON
faba-284	188	2	exception	exception	NOUN
faba-284	188	3	to	to	PART
faba-284	188	4	rule	rule	VERB
faba-284	188	5	:	:	PUNCT
faba-284	188	6	o	o	NOUN
faba-284	188	7	long	long	ADJ
faba-284	188	8	position	position	NOUN
faba-284	188	9	has	have	AUX
faba-284	188	10	been	be	AUX
faba-284	188	11	opened	open	VERB
faba-284	188	12	closed	close	VERB
faba-284	188	13	to	to	ADP
faba-284	188	14	mkt	mkt	PROPN
faba-284	188	15	cycle	cycle	NOUN
faba-284	188	16	bottom	bottom	NOUN
faba-284	188	17	,	,	PUNCT
faba-284	188	18	do	do	AUX
faba-284	188	19	not	not	PART
faba-284	188	20	sell	sell	VERB
faba-284	188	21	till	till	SCONJ
faba-284	188	22	pi	pi	PROPN
faba-284	188	23	cycle	cycle	PROPN
faba-284	188	24	top	top	ADJ
faba-284	188	25	signal	signal	NOUN
faba-284	188	26	or	or	CCONJ
faba-284	188	27	the	the	DET
faba-284	188	28	back	back	ADJ
faba-284	188	29	-	-	PUNCT
faba-284	188	30	up	up	ADP
faba-284	188	31	signal	signal	NOUN
faba-284	188	32	.	.	PUNCT
faba-284	189	1	result	result	NOUN
faba-284	189	2	and	and	CCONJ
faba-284	189	3	discussion	discussion	NOUN
faba-284	189	4	from	from	ADP
faba-284	189	5	scratch	scratch	NOUN
faba-284	189	6	to	to	ADP
faba-284	189	7	results	result	NOUN
faba-284	189	8	although	although	SCONJ
faba-284	189	9	several	several	ADJ
faba-284	189	10	platforms	platform	NOUN
faba-284	189	11	provide	provide	VERB
faba-284	189	12	btc	btc	NOUN
faba-284	189	13	/	/	SYM
faba-284	189	14	usd	usd	NOUN
faba-284	189	15	price	price	NOUN
faba-284	189	16	histories	history	NOUN
faba-284	189	17	,	,	PUNCT
faba-284	189	18	not	not	PART
faba-284	189	19	all	all	PRON
faba-284	189	20	offer	offer	VERB
faba-284	189	21	sufficiently	sufficiently	ADV
faba-284	189	22	long	long	ADJ
faba-284	189	23	samples	sample	NOUN
faba-284	189	24	and	and	CCONJ
faba-284	189	25	there	there	PRON
faba-284	189	26	are	be	VERB
faba-284	189	27	discrepancies	discrepancy	NOUN
faba-284	189	28	across	across	ADP
faba-284	189	29	exchanges	exchange	NOUN
faba-284	189	30	.	.	PUNCT
faba-284	190	1	the	the	DET
faba-284	190	2	first	first	ADJ
faba-284	190	3	step	step	NOUN
faba-284	190	4	was	be	AUX
faba-284	190	5	therefore	therefore	ADV
faba-284	190	6	to	to	PART
faba-284	190	7	identify	identify	VERB
faba-284	190	8	an	an	DET
faba-284	190	9	exchange	exchange	NOUN
faba-284	190	10	with	with	ADP
faba-284	190	11	a	a	DET
faba-284	190	12	reliable	reliable	ADJ
faba-284	190	13	and	and	CCONJ
faba-284	190	14	lengthy	lengthy	ADJ
faba-284	190	15	dataset	dataset	NOUN
faba-284	190	16	—	—	PUNCT
faba-284	190	17	bitstamp	bitstamp	NOUN
faba-284	190	18	—	—	PUNCT
faba-284	190	19	and	and	CCONJ
faba-284	190	20	to	to	PART
faba-284	190	21	write	write	VERB
faba-284	190	22	a	a	DET
faba-284	190	23	python	python	NOUN
faba-284	190	24	script	script	NOUN
faba-284	190	25	to	to	PART
faba-284	190	26	fetch	fetch	VERB
faba-284	190	27	the	the	DET
faba-284	190	28	btc	btc	ADJ
faba-284	190	29	/	/	SYM
faba-284	190	30	usd	usd	NOUN
faba-284	190	31	ohlcv	ohlcv	NOUN
faba-284	190	32	(	(	PUNCT
faba-284	190	33	open	open	ADJ
faba-284	190	34	,	,	PUNCT
faba-284	190	35	high	high	ADJ
faba-284	190	36	,	,	PUNCT
faba-284	190	37	low	low	ADJ
faba-284	190	38	,	,	PUNCT
faba-284	190	39	close	close	ADJ
faba-284	190	40	,	,	PUNCT
faba-284	190	41	volume	volume	NOUN
faba-284	190	42	)	)	PUNCT
faba-284	190	43	data	datum	NOUN
faba-284	190	44	.	.	PUNCT
faba-284	191	1	days	day	NOUN
faba-284	191	2	with	with	ADP
faba-284	191	3	missing	missing	ADJ
faba-284	191	4	ohlcv	ohlcv	NOUN
faba-284	191	5	values	value	NOUN
faba-284	191	6	or	or	CCONJ
faba-284	191	7	zero	zero	NUM
faba-284	191	8	trading	trading	NOUN
faba-284	191	9	volume	volume	NOUN
faba-284	191	10	were	be	AUX
faba-284	191	11	dropped	drop	VERB
faba-284	191	12	.	.	PUNCT
faba-284	192	1	no	no	DET
faba-284	192	2	additional	additional	ADJ
faba-284	192	3	manual	manual	ADJ
faba-284	192	4	outlier	outlier	NOUN
faba-284	192	5	filtering	filtering	NOUN
faba-284	192	6	was	be	AUX
faba-284	192	7	applied	apply	VERB
faba-284	192	8	:	:	PUNCT
faba-284	192	9	extreme	extreme	ADJ
faba-284	192	10	returns	return	NOUN
faba-284	192	11	were	be	AUX
faba-284	192	12	retained	retain	VERB
faba-284	192	13	as	as	ADP
faba-284	192	14	part	part	NOUN
faba-284	192	15	of	of	ADP
faba-284	192	16	the	the	DET
faba-284	192	17	realized	realize	VERB
faba-284	192	18	price	price	NOUN
faba-284	192	19	history	history	NOUN
faba-284	192	20	(	(	PUNCT
faba-284	192	21	see	see	VERB
faba-284	192	22	annex	annex	ADJ
faba-284	192	23	,	,	PUNCT
faba-284	192	24	figure	figure	NOUN
faba-284	192	25	10	10	NUM
faba-284	192	26	,	,	PUNCT
faba-284	192	27	for	for	ADP
faba-284	192	28	the	the	DET
faba-284	192	29	data	data	NOUN
faba-284	192	30	-	-	PUNCT
faba-284	192	31	extraction	extraction	NOUN
faba-284	192	32	script	script	NOUN
faba-284	192	33	)	)	PUNCT
faba-284	192	34	.	.	PUNCT
faba-284	193	1	once	once	ADV
faba-284	193	2	obtained	obtain	VERB
faba-284	193	3	the	the	DET
faba-284	193	4	daily	daily	ADJ
faba-284	193	5	ohlcv	ohlcv	NOUN
faba-284	193	6	for	for	ADP
faba-284	193	7	btc	btc	ADJ
faba-284	193	8	data	datum	NOUN
faba-284	193	9	set	set	VERB
faba-284	193	10	in	in	ADP
faba-284	193	11	a	a	DET
faba-284	193	12	.csv	.csv	ADJ
faba-284	193	13	file	file	NOUN
faba-284	193	14	,	,	PUNCT
faba-284	193	15	this	this	PRON
faba-284	193	16	was	be	AUX
faba-284	193	17	imported	import	VERB
faba-284	193	18	and	and	CCONJ
faba-284	193	19	formatted	format	VERB
faba-284	193	20	in	in	ADP
faba-284	193	21	an	an	DET
faba-284	193	22	excel	excel	NOUN
faba-284	193	23	file	file	NOUN
faba-284	193	24	.	.	PUNCT
faba-284	194	1	within	within	ADP
faba-284	194	2	this	this	DET
faba-284	194	3	excel	excel	NOUN
faba-284	194	4	file	file	NOUN
faba-284	194	5	,	,	PUNCT
faba-284	194	6	in	in	ADP
faba-284	194	7	a	a	DET
faba-284	194	8	new	new	ADJ
faba-284	194	9	separate	separate	ADJ
faba-284	194	10	sheet	sheet	NOUN
faba-284	194	11	were	be	AUX
faba-284	194	12	consolidated	consolidate	VERB
faba-284	194	13	the	the	DET
faba-284	194	14	date	date	NOUN
faba-284	194	15	range	range	NOUN
faba-284	194	16	,	,	PUNCT
faba-284	194	17	close	close	ADJ
faba-284	194	18	and	and	CCONJ
faba-284	194	19	open	open	ADJ
faba-284	194	20	prices	price	NOUN
faba-284	194	21	,	,	PUNCT
faba-284	194	22	all	all	PRON
faba-284	194	23	related	related	ADJ
faba-284	194	24	to	to	ADP
faba-284	194	25	the	the	DET
faba-284	194	26	benchmark	benchmark	NOUN
faba-284	194	27	,	,	PUNCT
faba-284	194	28	btc	btc	PROPN
faba-284	194	29	.	.	PUNCT
faba-284	195	1	an	an	DET
faba-284	195	2	additional	additional	ADJ
faba-284	195	3	column	column	NOUN
faba-284	195	4	was	be	AUX
faba-284	195	5	added	add	VERB
faba-284	195	6	to	to	PART
faba-284	195	7	calculate	calculate	VERB
faba-284	195	8	the	the	DET
faba-284	195	9	percentual	percentual	ADJ
faba-284	195	10	gain	gain	NOUN
faba-284	195	11	or	or	CCONJ
faba-284	195	12	loss	loss	NOUN
faba-284	195	13	compared	compare	VERB
faba-284	195	14	to	to	ADP
faba-284	195	15	the	the	DET
faba-284	195	16	same	same	ADJ
faba-284	195	17	day	day	NOUN
faba-284	195	18	opening	opening	NOUN
faba-284	195	19	price	price	NOUN
faba-284	195	20	.	.	PUNCT
faba-284	196	1	immediately	immediately	ADV
faba-284	196	2	,	,	PUNCT
faba-284	196	3	next	next	ADV
faba-284	196	4	to	to	ADP
faba-284	196	5	these	these	PRON
faba-284	196	6	,	,	PUNCT
faba-284	196	7	three	three	NUM
faba-284	196	8	columns	column	NOUN
faba-284	196	9	were	be	AUX
faba-284	196	10	added	add	VERB
faba-284	196	11	and	and	CCONJ
faba-284	196	12	are	be	AUX
faba-284	196	13	related	relate	VERB
faba-284	196	14	to	to	ADP
faba-284	196	15	the	the	DET
faba-284	196	16	strategy	strategy	NOUN
faba-284	196	17	per	per	ADP
faba-284	196	18	se	se	X
faba-284	196	19	.	.	PUNCT
faba-284	197	1	the	the	DET
faba-284	197	2	first	first	ADJ
faba-284	197	3	column	column	NOUN
faba-284	197	4	defines	define	VERB
faba-284	197	5	the	the	DET
faba-284	197	6	condition	condition	NOUN
faba-284	197	7	“	"	PUNCT
faba-284	197	8	long	long	ADJ
faba-284	197	9	”	"	PUNCT
faba-284	197	10	vs	vs	ADP
faba-284	197	11	“	"	PUNCT
faba-284	197	12	sold	sell	VERB
faba-284	197	13	”	"	PUNCT
faba-284	197	14	.	.	PUNCT
faba-284	198	1	where	where	SCONJ
faba-284	198	2	value	value	NOUN
faba-284	198	3	1	1	NUM
faba-284	198	4	represents	represent	VERB
faba-284	198	5	taking	take	VERB
faba-284	198	6	a	a	DET
faba-284	198	7	long	long	ADJ
faba-284	198	8	position	position	NOUN
faba-284	198	9	in	in	ADP
faba-284	198	10	the	the	DET
faba-284	198	11	asset	asset	NOUN
faba-284	198	12	and	and	CCONJ
faba-284	198	13	0	0	NUM
faba-284	198	14	represents	represent	VERB
faba-284	198	15	selling	sell	VERB
faba-284	198	16	into	into	ADP
faba-284	198	17	cash	cash	NOUN
faba-284	198	18	.	.	PUNCT
faba-284	199	1	the	the	DET
faba-284	199	2	second	second	ADJ
faba-284	199	3	column	column	NOUN
faba-284	199	4	is	be	AUX
faba-284	199	5	the	the	DET
faba-284	199	6	result	result	NOUN
faba-284	199	7	of	of	ADP
faba-284	199	8	multiplying	multiply	VERB
faba-284	199	9	the	the	DET
faba-284	199	10	daily	daily	ADJ
faba-284	199	11	returns	return	NOUN
faba-284	199	12	by	by	ADP
faba-284	199	13	either	either	CCONJ
faba-284	199	14	the	the	DET
faba-284	199	15	long	long	ADJ
faba-284	199	16	or	or	CCONJ
faba-284	199	17	sold	sell	VERB
faba-284	199	18	condition	condition	NOUN
faba-284	199	19	;	;	PUNCT
faba-284	199	20	returning	return	VERB
faba-284	199	21	the	the	DET
faba-284	199	22	exact	exact	ADJ
faba-284	199	23	same	same	ADJ
faba-284	199	24	daily	daily	ADJ
faba-284	199	25	return	return	NOUN
faba-284	199	26	percent	percent	NOUN
faba-284	199	27	as	as	ADP
faba-284	199	28	the	the	DET
faba-284	199	29	benchmark	benchmark	NOUN
faba-284	199	30	,	,	PUNCT
faba-284	199	31	in	in	ADP
faba-284	199	32	the	the	DET
faba-284	199	33	case	case	NOUN
faba-284	199	34	of	of	ADP
faba-284	199	35	“	"	PUNCT
faba-284	199	36	long	long	ADJ
faba-284	199	37	”	"	PUNCT
faba-284	199	38	condition	condition	NOUN
faba-284	199	39	and	and	CCONJ
faba-284	199	40	0	0	NUM
faba-284	199	41	for	for	ADP
faba-284	199	42	“	"	PUNCT
faba-284	199	43	sold	sell	VERB
faba-284	199	44	”	"	PUNCT
faba-284	199	45	.	.	PUNCT
faba-284	200	1	the	the	DET
faba-284	200	2	last	last	ADJ
faba-284	200	3	column	column	NOUN
faba-284	200	4	provides	provide	VERB
faba-284	200	5	the	the	DET
faba-284	200	6	name	name	NOUN
faba-284	200	7	of	of	ADP
faba-284	200	8	the	the	DET
faba-284	200	9	key	key	ADJ
faba-284	200	10	event	event	NOUN
faba-284	200	11	triggering	trigger	VERB
faba-284	200	12	the	the	DET
faba-284	200	13	long	long	ADJ
faba-284	200	14	or	or	CCONJ
faba-284	200	15	sold	sell	VERB
faba-284	200	16	.	.	PUNCT
faba-284	201	1	in	in	ADP
faba-284	201	2	brief	brief	NOUN
faba-284	201	3	,	,	PUNCT
faba-284	201	4	the	the	DET
faba-284	201	5	two	two	NUM
faba-284	201	6	most	most	ADV
faba-284	201	7	important	important	ADJ
faba-284	201	8	columns	column	NOUN
faba-284	201	9	of	of	ADP
faba-284	201	10	this	this	DET
faba-284	201	11	table	table	NOUN
faba-284	201	12	are	be	AUX
faba-284	201	13	:	:	PUNCT
faba-284	201	14	the	the	DET
faba-284	201	15	benchmark	benchmark	NOUN
faba-284	201	16	’s	’s	PART
faba-284	201	17	daily	daily	ADJ
faba-284	201	18	returns	return	NOUN
faba-284	201	19	and	and	CCONJ
faba-284	201	20	the	the	DET
faba-284	201	21	strategy	strategy	NOUN
faba-284	201	22	returns	return	NOUN
faba-284	201	23	.	.	PUNCT
faba-284	202	1	the	the	DET
faba-284	202	2	starting	starting	NOUN
faba-284	202	3	point	point	NOUN
faba-284	202	4	in	in	ADP
faba-284	202	5	time	time	NOUN
faba-284	202	6	for	for	ADP
faba-284	202	7	both	both	CCONJ
faba-284	202	8	the	the	DET
faba-284	202	9	passive	passive	ADJ
faba-284	202	10	and	and	CCONJ
faba-284	202	11	active	active	ADJ
faba-284	202	12	strategies	strategy	NOUN
faba-284	202	13	is	be	AUX
faba-284	202	14	the	the	DET
faba-284	202	15	11th	11th	NOUN
faba-284	202	16	of	of	ADP
faba-284	202	17	june	june	PROPN
faba-284	202	18	2012	2012	NUM
faba-284	202	19	when	when	SCONJ
faba-284	202	20	the	the	DET
faba-284	202	21	long	long	ADJ
faba-284	202	22	signal	signal	NOUN
faba-284	202	23	is	be	AUX
faba-284	202	24	confirmed	confirm	VERB
faba-284	202	25	,	,	PUNCT
faba-284	202	26	and	and	CCONJ
faba-284	202	27	the	the	DET
faba-284	202	28	last	last	ADJ
faba-284	202	29	day	day	NOUN
faba-284	202	30	of	of	ADP
faba-284	202	31	the	the	DET
faba-284	202	32	dataset	dataset	NOUN
faba-284	202	33	is	be	AUX
faba-284	202	34	10th	10th	ADJ
faba-284	202	35	of	of	ADP
faba-284	202	36	may	may	PROPN
faba-284	202	37	2025	2025	NUM
faba-284	202	38	.	.	PUNCT
faba-284	203	1	alejandro	alejandro	PROPN
faba-284	203	2	rabinovich	rabinovich	PROPN
faba-284	203	3	/	/	SYM
faba-284	203	4	finance	finance	NOUN
faba-284	203	5	,	,	PUNCT
faba-284	203	6	accounting	accounting	NOUN
faba-284	203	7	and	and	CCONJ
faba-284	203	8	business	business	NOUN
faba-284	203	9	analysis	analysis	NOUN
faba-284	203	10	,	,	PUNCT
faba-284	203	11	volume	volume	NOUN
faba-284	203	12	7	7	NUM
faba-284	203	13	,	,	PUNCT
faba-284	203	14	issue	issue	NOUN
faba-284	203	15	2	2	NUM
faba-284	203	16	,	,	PUNCT
faba-284	203	17	2025	2025	NUM
faba-284	203	18	260	260	NUM
faba-284	203	19	having	having	AUX
faba-284	203	20	obtained	obtain	VERB
faba-284	203	21	the	the	DET
faba-284	203	22	returns	return	NOUN
faba-284	203	23	for	for	ADP
faba-284	203	24	the	the	DET
faba-284	203	25	benchmark	benchmark	NOUN
faba-284	203	26	and	and	CCONJ
faba-284	203	27	the	the	DET
faba-284	203	28	strategy	strategy	NOUN
faba-284	203	29	,	,	PUNCT
faba-284	203	30	the	the	DET
faba-284	203	31	next	next	ADJ
faba-284	203	32	step	step	NOUN
faba-284	203	33	was	be	AUX
faba-284	203	34	performing	perform	VERB
faba-284	203	35	the	the	DET
faba-284	203	36	linear	linear	ADJ
faba-284	203	37	regression	regression	NOUN
faba-284	203	38	using	use	VERB
faba-284	203	39	the	the	DET
faba-284	203	40	strategy	strategy	NOUN
faba-284	203	41	daily	daily	ADJ
faba-284	203	42	returns	return	NOUN
faba-284	203	43	as	as	ADP
faba-284	203	44	the	the	DET
faba-284	203	45	dependent	dependent	ADJ
faba-284	203	46	variable	variable	ADJ
faba-284	203	47	y	y	PROPN
faba-284	203	48	and	and	CCONJ
faba-284	203	49	the	the	DET
faba-284	203	50	benchmark	benchmark	ADJ
faba-284	203	51	daily	daily	ADJ
faba-284	203	52	returns	return	NOUN
faba-284	203	53	as	as	ADP
faba-284	203	54	the	the	DET
faba-284	203	55	independent	independent	ADJ
faba-284	203	56	variable	variable	ADJ
faba-284	203	57	x.	x.	NOUN
faba-284	203	58	for	for	ADP
faba-284	203	59	this	this	PRON
faba-284	203	60	,	,	PUNCT
faba-284	203	61	in	in	ADP
faba-284	203	62	a	a	DET
faba-284	203	63	separate	separate	ADJ
faba-284	203	64	excel	excel	NOUN
faba-284	203	65	sheet	sheet	NOUN
faba-284	203	66	were	be	AUX
faba-284	203	67	added	add	VERB
faba-284	203	68	the	the	DET
faba-284	203	69	results	result	NOUN
faba-284	203	70	of	of	ADP
faba-284	203	71	the	the	DET
faba-284	203	72	regression	regression	NOUN
faba-284	203	73	analysis	analysis	NOUN
faba-284	203	74	.	.	PUNCT
faba-284	204	1	the	the	DET
faba-284	204	2	first	first	ADJ
faba-284	204	3	period	period	NOUN
faba-284	204	4	examined	examine	VERB
faba-284	204	5	was	be	AUX
faba-284	204	6	from	from	ADP
faba-284	204	7	11th	11th	ADJ
faba-284	204	8	june	june	PROPN
faba-284	204	9	2012	2012	NUM
faba-284	204	10	up	up	ADP
faba-284	204	11	till	till	SCONJ
faba-284	204	12	10th	10th	ADJ
faba-284	204	13	may	may	PROPN
faba-284	204	14	2025	2025	NUM
faba-284	204	15	.	.	PUNCT
faba-284	205	1	after	after	ADP
faba-284	205	2	these	these	DET
faba-284	205	3	results	result	NOUN
faba-284	205	4	,	,	PUNCT
faba-284	205	5	subsequent	subsequent	ADJ
faba-284	205	6	regression	regression	NOUN
faba-284	205	7	results	result	NOUN
faba-284	205	8	were	be	AUX
faba-284	205	9	added	add	VERB
faba-284	205	10	to	to	ADP
faba-284	205	11	the	the	DET
faba-284	205	12	same	same	ADJ
faba-284	205	13	excel	excel	NOUN
faba-284	205	14	sheet	sheet	NOUN
faba-284	205	15	but	but	CCONJ
faba-284	205	16	moving	move	VERB
faba-284	205	17	the	the	DET
faba-284	205	18	entry	entry	NOUN
faba-284	205	19	point	point	NOUN
faba-284	205	20	to	to	ADP
faba-284	205	21	approximately	approximately	ADV
faba-284	205	22	1	1	NUM
faba-284	205	23	year	year	NOUN
faba-284	205	24	after	after	ADV
faba-284	205	25	,	,	PUNCT
faba-284	205	26	taking	take	VERB
faba-284	205	27	the	the	DET
faba-284	205	28	starting	starting	NOUN
faba-284	205	29	point	point	NOUN
faba-284	205	30	as	as	ADP
faba-284	205	31	1st	1st	NOUN
faba-284	205	32	of	of	ADP
faba-284	205	33	june	june	PROPN
faba-284	205	34	.	.	PUNCT
faba-284	206	1	the	the	DET
faba-284	206	2	second	second	ADJ
faba-284	206	3	regressed	regress	VERB
faba-284	206	4	period	period	NOUN
faba-284	206	5	was	be	AUX
faba-284	206	6	1st	1st	ADJ
faba-284	206	7	june	june	PROPN
faba-284	206	8	2013	2013	NUM
faba-284	206	9	up	up	ADP
faba-284	206	10	till	till	SCONJ
faba-284	206	11	dataset	dataset	NOUN
faba-284	206	12	end	end	NOUN
faba-284	206	13	.	.	PUNCT
faba-284	207	1	next	next	ADJ
faba-284	207	2	period	period	NOUN
faba-284	207	3	was	be	AUX
faba-284	207	4	1st	1st	ADJ
faba-284	207	5	june	june	PROPN
faba-284	207	6	2014	2014	NUM
faba-284	207	7	and	and	CCONJ
faba-284	207	8	repeating	repeat	VERB
faba-284	207	9	this	this	DET
faba-284	207	10	process	process	NOUN
faba-284	207	11	up	up	ADP
faba-284	207	12	till	till	SCONJ
faba-284	207	13	the	the	DET
faba-284	207	14	last	last	ADJ
faba-284	207	15	examined	examine	VERB
faba-284	207	16	period	period	NOUN
faba-284	207	17	of	of	ADP
faba-284	207	18	1st	1st	ADJ
faba-284	207	19	june	june	PROPN
faba-284	207	20	2023	2023	NUM
faba-284	207	21	till	till	SCONJ
faba-284	207	22	10th	10th	ADJ
faba-284	207	23	may	may	PROPN
faba-284	207	24	2025	2025	NUM
faba-284	207	25	.	.	PUNCT
faba-284	208	1	the	the	DET
faba-284	208	2	idea	idea	NOUN
faba-284	208	3	behind	behind	ADP
faba-284	208	4	performing	perform	VERB
faba-284	208	5	several	several	ADJ
faba-284	208	6	regression	regression	NOUN
faba-284	208	7	analyses	analysis	NOUN
faba-284	208	8	with	with	ADP
faba-284	208	9	different	different	ADJ
faba-284	208	10	entry	entry	NOUN
faba-284	208	11	points	point	NOUN
faba-284	208	12	in	in	ADP
faba-284	208	13	time	time	NOUN
faba-284	208	14	,	,	PUNCT
faba-284	208	15	was	be	AUX
faba-284	208	16	to	to	PART
faba-284	208	17	have	have	VERB
faba-284	208	18	an	an	DET
faba-284	208	19	additional	additional	ADJ
faba-284	208	20	valuation	valuation	NOUN
faba-284	208	21	measure	measure	NOUN
faba-284	208	22	as	as	ADP
faba-284	208	23	to	to	PART
faba-284	208	24	if	if	SCONJ
faba-284	208	25	the	the	DET
faba-284	208	26	results	result	NOUN
faba-284	208	27	are	be	AUX
faba-284	208	28	statistical	statistical	ADJ
faba-284	208	29	significant	significant	ADJ
faba-284	208	30	or	or	CCONJ
faba-284	208	31	not	not	PART
faba-284	208	32	.	.	PUNCT
faba-284	209	1	to	to	PART
faba-284	209	2	obtain	obtain	VERB
faba-284	209	3	the	the	DET
faba-284	209	4	accumulated	accumulate	VERB
faba-284	209	5	results	result	NOUN
faba-284	209	6	of	of	ADP
faba-284	209	7	the	the	DET
faba-284	209	8	strategy	strategy	NOUN
faba-284	209	9	in	in	ADP
faba-284	209	10	time	time	NOUN
faba-284	209	11	and	and	CCONJ
faba-284	209	12	to	to	PART
faba-284	209	13	keep	keep	VERB
faba-284	209	14	things	thing	NOUN
faba-284	209	15	structured	structure	VERB
faba-284	209	16	an	an	DET
faba-284	209	17	additional	additional	ADJ
faba-284	209	18	sheet	sheet	NOUN
faba-284	209	19	containing	contain	VERB
faba-284	209	20	the	the	DET
faba-284	209	21	same	same	ADJ
faba-284	209	22	data	datum	NOUN
faba-284	209	23	as	as	ADP
faba-284	209	24	the	the	DET
faba-284	209	25	second	second	ADJ
faba-284	209	26	sheet	sheet	NOUN
faba-284	209	27	,	,	PUNCT
faba-284	209	28	was	be	AUX
faba-284	209	29	created	create	VERB
faba-284	209	30	.	.	PUNCT
faba-284	210	1	in	in	ADP
faba-284	210	2	this	this	DET
faba-284	210	3	sheet	sheet	NOUN
faba-284	210	4	,	,	PUNCT
faba-284	210	5	the	the	DET
faba-284	210	6	cumulative	cumulative	ADJ
faba-284	210	7	returns	return	NOUN
faba-284	210	8	were	be	AUX
faba-284	210	9	calculated	calculate	VERB
faba-284	210	10	for	for	ADP
faba-284	210	11	both	both	CCONJ
faba-284	210	12	the	the	DET
faba-284	210	13	passive	passive	ADJ
faba-284	210	14	approach	approach	NOUN
faba-284	210	15	and	and	CCONJ
faba-284	210	16	the	the	DET
faba-284	210	17	active	active	ADJ
faba-284	210	18	strategy	strategy	NOUN
faba-284	210	19	.	.	PUNCT
faba-284	211	1	to	to	PART
faba-284	211	2	obtain	obtain	VERB
faba-284	211	3	a	a	DET
faba-284	211	4	better	well	ADJ
faba-284	211	5	means	mean	NOUN
faba-284	211	6	of	of	ADP
faba-284	211	7	comparison	comparison	NOUN
faba-284	211	8	the	the	DET
faba-284	211	9	returns	return	NOUN
faba-284	211	10	were	be	AUX
faba-284	211	11	calculated	calculate	VERB
faba-284	211	12	on	on	ADP
faba-284	211	13	a	a	DET
faba-284	211	14	yearly	yearly	ADJ
faba-284	211	15	basis	basis	NOUN
faba-284	211	16	.	.	PUNCT
faba-284	212	1	lastly	lastly	ADV
faba-284	212	2	,	,	PUNCT
faba-284	212	3	on	on	ADP
faba-284	212	4	a	a	DET
faba-284	212	5	separate	separate	ADJ
faba-284	212	6	excel	excel	NOUN
faba-284	212	7	sheet	sheet	NOUN
faba-284	212	8	,	,	PUNCT
faba-284	212	9	utilizing	utilize	VERB
faba-284	212	10	the	the	DET
faba-284	212	11	open	open	ADJ
faba-284	212	12	&	&	CCONJ
faba-284	212	13	close	close	ADJ
faba-284	212	14	prices	price	NOUN
faba-284	212	15	in	in	ADP
faba-284	212	16	conjunction	conjunction	NOUN
faba-284	212	17	with	with	ADP
faba-284	212	18	the	the	DET
faba-284	212	19	key	key	ADJ
faba-284	212	20	events	event	NOUN
faba-284	212	21	triggering	trigger	VERB
faba-284	212	22	the	the	DET
faba-284	212	23	long	long	ADJ
faba-284	212	24	or	or	CCONJ
faba-284	212	25	sell	sell	VERB
faba-284	212	26	signals	signal	NOUN
faba-284	212	27	,	,	PUNCT
faba-284	212	28	equity	equity	NOUN
faba-284	212	29	curves	curve	NOUN
faba-284	212	30	were	be	AUX
faba-284	212	31	created	create	VERB
faba-284	212	32	for	for	ADP
faba-284	212	33	the	the	DET
faba-284	212	34	different	different	ADJ
faba-284	212	35	long	long	ADJ
faba-284	212	36	/	/	SYM
faba-284	212	37	sell	sell	NOUN
faba-284	212	38	signals	signal	NOUN
faba-284	212	39	.	.	PUNCT
faba-284	213	1	the	the	DET
faba-284	213	2	equity	equity	NOUN
faba-284	213	3	curves	curve	NOUN
faba-284	213	4	simulate	simulate	VERB
faba-284	213	5	the	the	DET
faba-284	213	6	growth	growth	NOUN
faba-284	213	7	of	of	ADP
faba-284	213	8	the	the	DET
faba-284	213	9	trading	trading	NOUN
faba-284	213	10	account	account	NOUN
faba-284	213	11	,	,	PUNCT
faba-284	213	12	assuming	assume	VERB
faba-284	213	13	1000	1000	NUM
faba-284	213	14	us$	us$	NUM
faba-284	213	15	were	be	AUX
faba-284	213	16	invested	invest	VERB
faba-284	213	17	in	in	ADP
faba-284	213	18	each	each	PRON
faba-284	213	19	the	the	DET
faba-284	213	20	passive	passive	ADJ
faba-284	213	21	and	and	CCONJ
faba-284	213	22	active	active	ADJ
faba-284	213	23	strategy	strategy	NOUN
faba-284	213	24	,	,	PUNCT
faba-284	213	25	with	with	ADP
faba-284	213	26	no	no	DET
faba-284	213	27	other	other	ADJ
faba-284	213	28	additional	additional	ADJ
faba-284	213	29	injection	injection	NOUN
faba-284	213	30	of	of	ADP
faba-284	213	31	capital	capital	NOUN
faba-284	213	32	.	.	PUNCT
faba-284	214	1	thus	thus	ADV
faba-284	214	2	,	,	PUNCT
faba-284	214	3	the	the	DET
faba-284	214	4	passive	passive	ADJ
faba-284	214	5	strategy	strategy	NOUN
faba-284	214	6	remains	remain	VERB
faba-284	214	7	with	with	ADP
faba-284	214	8	a	a	DET
faba-284	214	9	constant	constant	ADJ
faba-284	214	10	amount	amount	NOUN
faba-284	214	11	of	of	ADP
faba-284	214	12	btc	btc	NOUN
faba-284	214	13	,	,	PUNCT
faba-284	214	14	determined	determine	VERB
faba-284	214	15	at	at	ADP
faba-284	214	16	the	the	DET
faba-284	214	17	moment	moment	NOUN
faba-284	214	18	the	the	DET
faba-284	214	19	long	long	ADJ
faba-284	214	20	is	be	AUX
faba-284	214	21	triggered	trigger	VERB
faba-284	214	22	;	;	PUNCT
faba-284	214	23	whereas	whereas	SCONJ
faba-284	214	24	the	the	DET
faba-284	214	25	active	active	ADJ
faba-284	214	26	strategy	strategy	NOUN
faba-284	214	27	experiences	experience	VERB
faba-284	214	28	a	a	DET
faba-284	214	29	compounding	compounding	NOUN
faba-284	214	30	effect	effect	NOUN
faba-284	214	31	with	with	ADP
faba-284	214	32	the	the	DET
faba-284	214	33	different	different	ADJ
faba-284	214	34	long	long	ADJ
faba-284	214	35	and	and	CCONJ
faba-284	214	36	sell	sell	VERB
faba-284	214	37	signals	signal	NOUN
faba-284	214	38	.	.	PUNCT
faba-284	215	1	in	in	ADP
faba-284	215	2	order	order	NOUN
faba-284	215	3	to	to	PART
faba-284	215	4	have	have	AUX
faba-284	215	5	a	a	DET
faba-284	215	6	point	point	NOUN
faba-284	215	7	of	of	ADP
faba-284	215	8	comparison	comparison	NOUN
faba-284	215	9	with	with	ADP
faba-284	215	10	the	the	DET
faba-284	215	11	active	active	ADJ
faba-284	215	12	strategy	strategy	NOUN
faba-284	215	13	,	,	PUNCT
faba-284	215	14	in	in	ADP
faba-284	215	15	terms	term	NOUN
faba-284	215	16	of	of	ADP
faba-284	215	17	account	account	NOUN
faba-284	215	18	value	value	NOUN
faba-284	215	19	expressed	express	VERB
faba-284	215	20	in	in	ADP
faba-284	215	21	us$	us$	ADP
faba-284	215	22	,	,	PUNCT
faba-284	215	23	the	the	DET
faba-284	215	24	value	value	NOUN
faba-284	215	25	of	of	ADP
faba-284	215	26	the	the	DET
faba-284	215	27	passive	passive	ADJ
faba-284	215	28	account	account	NOUN
faba-284	215	29	was	be	AUX
faba-284	215	30	also	also	ADV
faba-284	215	31	calculated	calculate	VERB
faba-284	215	32	at	at	ADP
faba-284	215	33	the	the	DET
faba-284	215	34	date	date	NOUN
faba-284	215	35	of	of	ADP
faba-284	215	36	long	long	ADJ
faba-284	215	37	and	and	CCONJ
faba-284	215	38	sell	sell	VERB
faba-284	215	39	signals	signal	NOUN
faba-284	215	40	.	.	PUNCT
faba-284	216	1	strategy	strategy	NOUN
faba-284	216	2	conclusions	conclusion	NOUN
faba-284	216	3	the	the	DET
faba-284	216	4	aim	aim	NOUN
faba-284	216	5	of	of	ADP
faba-284	216	6	this	this	DET
faba-284	216	7	work	work	NOUN
faba-284	216	8	was	be	AUX
faba-284	216	9	to	to	PART
faba-284	216	10	explore	explore	VERB
faba-284	216	11	and	and	CCONJ
faba-284	216	12	analyze	analyze	VERB
faba-284	216	13	with	with	ADP
faba-284	216	14	statistical	statistical	ADJ
faba-284	216	15	tools	tool	NOUN
faba-284	216	16	if	if	SCONJ
faba-284	216	17	the	the	DET
faba-284	216	18	proposed	propose	VERB
faba-284	216	19	active	active	ADJ
faba-284	216	20	strategy	strategy	NOUN
faba-284	216	21	could	could	AUX
faba-284	216	22	beat	beat	VERB
faba-284	216	23	the	the	DET
faba-284	216	24	performance	performance	NOUN
faba-284	216	25	of	of	ADP
faba-284	216	26	the	the	DET
faba-284	216	27	benchmark	benchmark	NOUN
faba-284	216	28	,	,	PUNCT
faba-284	216	29	btc	btc	PROPN
faba-284	216	30	.	.	PUNCT
faba-284	217	1	the	the	DET
faba-284	217	2	short	short	ADJ
faba-284	217	3	answer	answer	NOUN
faba-284	217	4	is	be	AUX
faba-284	217	5	that	that	SCONJ
faba-284	217	6	the	the	DET
faba-284	217	7	strategy	strategy	NOUN
faba-284	217	8	is	be	AUX
faba-284	217	9	successful	successful	ADJ
faba-284	217	10	.	.	PUNCT
faba-284	218	1	furthermore	furthermore	ADV
faba-284	218	2	,	,	PUNCT
faba-284	218	3	these	these	DET
faba-284	218	4	results	result	NOUN
faba-284	218	5	align	align	VERB
faba-284	218	6	with	with	ADP
faba-284	218	7	empirical	empirical	ADJ
faba-284	218	8	findings	finding	NOUN
faba-284	218	9	that	that	PRON
faba-284	218	10	bitcoin	bitcoin	PROPN
faba-284	218	11	exhibited	exhibit	VERB
faba-284	218	12	periods	period	NOUN
faba-284	218	13	of	of	ADP
faba-284	218	14	weak‑form	weak‑form	ADJ
faba-284	218	15	inefficiency	inefficiency	NOUN
faba-284	218	16	in	in	ADP
faba-284	218	17	its	its	PRON
faba-284	218	18	earlier	early	ADJ
faba-284	218	19	years	year	NOUN
faba-284	218	20	,	,	PUNCT
faba-284	218	21	providing	provide	VERB
faba-284	218	22	conditions	condition	NOUN
faba-284	218	23	under	under	ADP
faba-284	218	24	which	which	PRON
faba-284	218	25	rule‑based	rule‑base	VERB
faba-284	218	26	active	active	ADJ
faba-284	218	27	strategies	strategy	NOUN
faba-284	218	28	can	can	AUX
faba-284	218	29	generate	generate	VERB
faba-284	218	30	statistically	statistically	ADV
faba-284	218	31	significant	significant	ADJ
faba-284	218	32	excess	excess	ADJ
faba-284	218	33	returns	return	NOUN
faba-284	218	34	(	(	PUNCT
faba-284	218	35	urquhart	urquhart	PROPN
faba-284	218	36	2016	2016	NUM
faba-284	218	37	)	)	PUNCT
faba-284	218	38	.	.	PUNCT
faba-284	219	1	regression	regression	NOUN
faba-284	219	2	analysis	analysis	NOUN
faba-284	219	3	results	result	NOUN
faba-284	219	4	based	base	VERB
faba-284	219	5	on	on	ADP
faba-284	219	6	the	the	DET
faba-284	219	7	regression	regression	NOUN
faba-284	219	8	results	result	NOUN
faba-284	219	9	,	,	PUNCT
faba-284	219	10	the	the	DET
faba-284	219	11	null	null	ADJ
faba-284	219	12	hypothesis	hypothesis	NOUN
faba-284	219	13	stating	state	VERB
faba-284	219	14	that	that	SCONJ
faba-284	219	15	the	the	DET
faba-284	219	16	average	average	ADJ
faba-284	219	17	daily	daily	ADJ
faba-284	219	18	returns	return	NOUN
faba-284	219	19	of	of	ADP
faba-284	219	20	the	the	DET
faba-284	219	21	strategy	strategy	NOUN
faba-284	219	22	are	be	AUX
faba-284	219	23	no	no	ADV
faba-284	219	24	different	different	ADJ
faba-284	219	25	from	from	ADP
faba-284	219	26	the	the	DET
faba-284	219	27	benchmark	benchmark	NOUN
faba-284	219	28	’s	’s	PART
faba-284	219	29	is	be	AUX
faba-284	219	30	rejected	reject	VERB
faba-284	219	31	in	in	ADP
faba-284	219	32	favor	favor	NOUN
faba-284	219	33	of	of	ADP
faba-284	219	34	the	the	DET
faba-284	219	35	alternative	alternative	ADJ
faba-284	219	36	hypothesis	hypothesis	NOUN
faba-284	219	37	in	in	ADP
faba-284	219	38	most	most	ADJ
faba-284	219	39	of	of	ADP
faba-284	219	40	the	the	DET
faba-284	219	41	examined	examine	VERB
faba-284	219	42	sample	sample	NOUN
faba-284	219	43	windows	window	NOUN
faba-284	219	44	.	.	PUNCT
faba-284	220	1	for	for	ADP
faba-284	220	2	the	the	DET
faba-284	220	3	full	full	ADJ
faba-284	220	4	6/2012–5/2025	6/2012–5/2025	PROPN
faba-284	220	5	sample	sample	NOUN
faba-284	220	6	,	,	PUNCT
faba-284	220	7	the	the	DET
faba-284	220	8	regression	regression	NOUN
faba-284	220	9	explains	explain	VERB
faba-284	220	10	about	about	ADP
faba-284	220	11	57	57	NUM
faba-284	220	12	%	%	NOUN
faba-284	220	13	of	of	ADP
faba-284	220	14	the	the	DET
faba-284	220	15	variation	variation	NOUN
faba-284	220	16	in	in	ADP
faba-284	220	17	daily	daily	ADJ
faba-284	220	18	returns	return	NOUN
faba-284	220	19	(	(	PUNCT
faba-284	220	20	adjusted	adjust	VERB
faba-284	220	21	r²	r²	NOUN
faba-284	220	22	≈	≈	PROPN
faba-284	220	23	0.57	0.57	NUM
faba-284	220	24	;	;	PUNCT
faba-284	220	25	f	f	X
faba-284	220	26	-	-	PUNCT
faba-284	220	27	statistic	statistic	NOUN
faba-284	221	1	≈	≈	PROPN
faba-284	221	2	6,188	6,188	NUM
faba-284	221	3	,	,	PUNCT
faba-284	221	4	p	p	X
faba-284	221	5	<	<	X
faba-284	221	6	0.001	0.001	NUM
faba-284	221	7	)	)	PUNCT
faba-284	221	8	,	,	PUNCT
faba-284	221	9	and	and	CCONJ
faba-284	221	10	the	the	DET
faba-284	221	11	estimated	estimate	VERB
faba-284	221	12	intercept	intercept	NOUN
faba-284	221	13	α	α	NOUN
faba-284	221	14	is	be	AUX
faba-284	221	15	economically	economically	ADV
faba-284	221	16	and	and	CCONJ
faba-284	221	17	statistically	statistically	ADV
faba-284	221	18	significant	significant	ADJ
faba-284	221	19	at	at	ADP
faba-284	221	20	roughly	roughly	ADV
faba-284	221	21	0.17	0.17	NUM
faba-284	221	22	%	%	NOUN
faba-284	221	23	per	per	ADP
faba-284	221	24	day	day	NOUN
faba-284	221	25	,	,	PUNCT
faba-284	221	26	with	with	ADP
faba-284	221	27	a	a	DET
faba-284	221	28	95	95	NUM
faba-284	221	29	%	%	NOUN
faba-284	221	30	confidence	confidence	NOUN
faba-284	221	31	interval	interval	NOUN
faba-284	221	32	of	of	ADP
faba-284	221	33	about	about	ADP
faba-284	221	34	0.12%–0.23	0.12%–0.23	NUM
faba-284	221	35	%	%	NOUN
faba-284	221	36	(	(	PUNCT
faba-284	221	37	annex	annex	VERB
faba-284	221	38	table	table	NOUN
faba-284	222	1	8)	8)	NUM
faba-284	222	2	.	.	PUNCT
faba-284	222	3	table	table	NOUN
faba-284	222	4	1	1	NUM
faba-284	222	5	reports	report	VERB
faba-284	222	6	13	13	NUM
faba-284	222	7	overlapping	overlap	VERB
faba-284	222	8	regressions	regression	NOUN
faba-284	222	9	,	,	PUNCT
faba-284	222	10	with	with	ADP
faba-284	222	11	start	start	NOUN
faba-284	222	12	dates	date	NOUN
faba-284	222	13	from	from	ADP
faba-284	222	14	june	june	PROPN
faba-284	222	15	2012	2012	NUM
faba-284	222	16	through	through	ADP
faba-284	222	17	june	june	PROPN
faba-284	222	18	2024	2024	NUM
faba-284	222	19	and	and	CCONJ
faba-284	222	20	a	a	DET
faba-284	222	21	common	common	ADJ
faba-284	222	22	end	end	NOUN
faba-284	222	23	date	date	NOUN
faba-284	222	24	in	in	ADP
faba-284	222	25	may	may	PROPN
faba-284	222	26	2025	2025	NUM
faba-284	222	27	.	.	PUNCT
faba-284	223	1	under	under	ADP
faba-284	223	2	conventional	conventional	ADJ
faba-284	223	3	ols	ol	NOUN
faba-284	223	4	inference	inference	NOUN
faba-284	223	5	,	,	PUNCT
faba-284	223	6	the	the	DET
faba-284	223	7	estimated	estimate	VERB
faba-284	223	8	intercept	intercept	NOUN
faba-284	223	9	α	α	NOUN
faba-284	223	10	is	be	AUX
faba-284	223	11	positive	positive	ADJ
faba-284	223	12	and	and	CCONJ
faba-284	223	13	statistically	statistically	ADV
faba-284	223	14	significant	significant	ADJ
faba-284	223	15	at	at	ADP
faba-284	223	16	the	the	DET
faba-284	223	17	5	5	NUM
faba-284	223	18	%	%	NOUN
faba-284	223	19	level	level	NOUN
faba-284	223	20	in	in	ADP
faba-284	223	21	10	10	NUM
faba-284	223	22	of	of	ADP
faba-284	223	23	the	the	DET
faba-284	223	24	first	first	ADJ
faba-284	223	25	11	11	NUM
faba-284	223	26	windows	window	NOUN
faba-284	223	27	(	(	PUNCT
faba-284	223	28	6/2012–5/2025	6/2012–5/2025	PROPN
faba-284	223	29	through	through	ADP
faba-284	223	30	6/2022–5/2025	6/2022–5/2025	NUM
faba-284	223	31	)	)	PUNCT
faba-284	223	32	,	,	PUNCT
faba-284	223	33	with	with	ADP
faba-284	223	34	t	t	PROPN
faba-284	223	35	-	-	PUNCT
faba-284	223	36	statistics	statistic	NOUN
faba-284	223	37	comfortably	comfortably	ADV
faba-284	223	38	above	above	ADP
faba-284	223	39	the	the	DET
faba-284	223	40	1.96	1.96	NUM
faba-284	223	41	threshold	threshold	NOUN
faba-284	223	42	and	and	CCONJ
faba-284	223	43	very	very	ADV
faba-284	223	44	small	small	ADJ
faba-284	223	45	p	p	NOUN
faba-284	223	46	-	-	PUNCT
faba-284	223	47	values	value	NOUN
faba-284	223	48	(	(	PUNCT
faba-284	223	49	typically	typically	ADV
faba-284	223	50	below	below	ADP
faba-284	223	51	1	1	NUM
faba-284	223	52	%	%	NOUN
faba-284	223	53	)	)	PUNCT
faba-284	223	54	.	.	PUNCT
faba-284	224	1	in	in	ADP
faba-284	224	2	the	the	DET
faba-284	224	3	short	short	ADJ
faba-284	224	4	6/2021–5/2025	6/2021–5/2025	PROPN
faba-284	224	5	window	window	NOUN
faba-284	224	6	α	α	NOUN
faba-284	224	7	remains	remain	VERB
faba-284	224	8	positive	positive	ADJ
faba-284	224	9	but	but	CCONJ
faba-284	224	10	is	be	AUX
faba-284	224	11	not	not	PART
faba-284	224	12	significant	significant	ADJ
faba-284	224	13	at	at	ADP
faba-284	224	14	conventional	conventional	ADJ
faba-284	224	15	levels	level	NOUN
faba-284	224	16	,	,	PUNCT
faba-284	224	17	reflecting	reflect	VERB
faba-284	224	18	the	the	DET
faba-284	224	19	reduced	reduced	ADJ
faba-284	224	20	number	number	NOUN
faba-284	224	21	of	of	ADP
faba-284	224	22	observations	observation	NOUN
faba-284	224	23	in	in	ADP
faba-284	224	24	this	this	DET
faba-284	224	25	subsample	subsample	NOUN
faba-284	224	26	.	.	PUNCT
faba-284	225	1	the	the	DET
faba-284	225	2	final	final	ADJ
faba-284	225	3	two	two	NUM
faba-284	225	4	windows	window	NOUN
faba-284	225	5	(	(	PUNCT
faba-284	225	6	6/2023–5/2025	6/2023–5/2025	NUM
faba-284	225	7	and	and	CCONJ
faba-284	225	8	6/2024–5/2025	6/2024–5/2025	NUM
faba-284	225	9	)	)	PUNCT
faba-284	225	10	are	be	AUX
faba-284	225	11	also	also	ADV
faba-284	225	12	included	include	VERB
faba-284	225	13	in	in	ADP
faba-284	225	14	table	table	NOUN
faba-284	225	15	1	1	NUM
faba-284	225	16	for	for	ADP
faba-284	225	17	transparency	transparency	NOUN
faba-284	225	18	.	.	PUNCT
faba-284	226	1	in	in	ADP
faba-284	226	2	these	these	DET
faba-284	226	3	most	most	ADV
faba-284	226	4	recent	recent	ADJ
faba-284	226	5	periods	period	NOUN
faba-284	226	6	the	the	DET
faba-284	226	7	strategy	strategy	NOUN
faba-284	226	8	and	and	CCONJ
faba-284	226	9	benchmark	benchmark	NOUN
faba-284	226	10	returns	return	NOUN
faba-284	226	11	are	be	AUX
faba-284	226	12	almost	almost	ADV
faba-284	226	13	perfectly	perfectly	ADV
faba-284	226	14	collinear	collinear	ADJ
faba-284	226	15	,	,	PUNCT
faba-284	226	16	so	so	SCONJ
faba-284	226	17	the	the	DET
faba-284	226	18	regression	regression	NOUN
faba-284	226	19	is	be	AUX
faba-284	226	20	numerically	numerically	ADV
faba-284	226	21	ill	ill	ADV
faba-284	226	22	-	-	PUNCT
faba-284	226	23	conditioned	condition	VERB
faba-284	226	24	:	:	PUNCT
faba-284	226	25	the	the	DET
faba-284	226	26	estimated	estimate	VERB
faba-284	226	27	α	α	NOUN
faba-284	226	28	is	be	AUX
faba-284	226	29	extremely	extremely	ADV
faba-284	226	30	close	close	ADJ
faba-284	226	31	to	to	ADP
faba-284	226	32	zero	zero	NUM
faba-284	226	33	and	and	CCONJ
faba-284	226	34	the	the	DET
faba-284	226	35	resulting	result	VERB
faba-284	226	36	test	test	NOUN
faba-284	226	37	statistics	statistic	NOUN
faba-284	226	38	are	be	AUX
faba-284	226	39	not	not	PART
faba-284	226	40	economically	economically	ADV
faba-284	226	41	meaningful	meaningful	ADJ
faba-284	226	42	.	.	PUNCT
faba-284	227	1	rather	rather	ADV
faba-284	227	2	than	than	ADP
faba-284	227	3	omitting	omit	VERB
faba-284	227	4	these	these	DET
faba-284	227	5	subsamples	subsample	NOUN
faba-284	227	6	,	,	PUNCT
faba-284	227	7	they	they	PRON
faba-284	227	8	are	be	AUX
faba-284	227	9	reported	report	VERB
faba-284	227	10	explicitly	explicitly	ADV
faba-284	227	11	in	in	ADP
faba-284	227	12	table	table	NOUN
faba-284	227	13	1	1	NUM
faba-284	227	14	and	and	CCONJ
faba-284	227	15	annex	annex	VERB
faba-284	227	16	tables	table	NOUN
faba-284	227	17	19–20	19–20	NUM
faba-284	227	18	,	,	PUNCT
faba-284	227	19	with	with	ADP
faba-284	227	20	standard	standard	ADJ
faba-284	227	21	errors	error	NOUN
faba-284	227	22	and	and	CCONJ
faba-284	227	23	confidence	confidence	NOUN
faba-284	227	24	intervals	interval	NOUN
faba-284	227	25	suppressed	suppress	VERB
faba-284	227	26	and	and	CCONJ
faba-284	227	27	interpreted	interpret	VERB
faba-284	227	28	with	with	ADP
faba-284	227	29	caution	caution	NOUN
faba-284	227	30	.	.	PUNCT
faba-284	228	1	because	because	SCONJ
faba-284	228	2	the	the	DET
faba-284	228	3	regression	regression	NOUN
faba-284	228	4	windows	window	NOUN
faba-284	228	5	are	be	AUX
faba-284	228	6	overlapping	overlap	VERB
faba-284	228	7	,	,	PUNCT
faba-284	228	8	the	the	DET
faba-284	228	9	estimated	estimate	VERB
faba-284	228	10	α	α	PROPN
faba-284	228	11	coefficients	coefficient	NOUN
faba-284	228	12	across	across	ADP
faba-284	228	13	the	the	DET
faba-284	228	14	13	13	NUM
faba-284	228	15	subsamples	subsample	NOUN
faba-284	228	16	are	be	AUX
faba-284	228	17	not	not	PART
faba-284	228	18	statistically	statistically	ADV
faba-284	228	19	independent	independent	ADJ
faba-284	228	20	.	.	PUNCT
faba-284	229	1	sequential	sequential	ADJ
faba-284	229	2	windows	window	NOUN
faba-284	229	3	share	share	VERB
faba-284	229	4	a	a	DET
faba-284	229	5	large	large	ADJ
faba-284	229	6	proportion	proportion	NOUN
faba-284	229	7	of	of	ADP
faba-284	229	8	observations	observation	NOUN
faba-284	229	9	,	,	PUNCT
faba-284	229	10	which	which	PRON
faba-284	229	11	induces	induce	VERB
faba-284	229	12	dependence	dependence	NOUN
faba-284	229	13	among	among	ADP
faba-284	229	14	their	their	PRON
faba-284	229	15	test	test	NOUN
faba-284	229	16	statistics	statistic	NOUN
faba-284	229	17	.	.	PUNCT
faba-284	230	1	for	for	ADP
faba-284	230	2	this	this	DET
faba-284	230	3	reason	reason	NOUN
faba-284	230	4	,	,	PUNCT
faba-284	230	5	the	the	DET
faba-284	230	6	overlapping	overlap	VERB
faba-284	230	7	ols	ol	NOUN
faba-284	230	8	results	result	NOUN
faba-284	230	9	in	in	ADP
faba-284	230	10	table	table	NOUN
faba-284	230	11	1	1	NUM
faba-284	230	12	should	should	AUX
faba-284	230	13	be	be	AUX
faba-284	230	14	interpreted	interpret	VERB
faba-284	230	15	as	as	ADP
faba-284	230	16	descriptive	descriptive	ADJ
faba-284	230	17	evidence	evidence	NOUN
faba-284	230	18	of	of	ADP
faba-284	230	19	persistence	persistence	NOUN
faba-284	230	20	rather	rather	ADV
faba-284	230	21	than	than	ADP
faba-284	230	22	as	as	ADP
faba-284	230	23	a	a	DET
faba-284	230	24	series	series	NOUN
faba-284	230	25	of	of	ADP
faba-284	230	26	independent	independent	ADJ
faba-284	230	27	hypothesis	hypothesis	NOUN
faba-284	230	28	tests	test	NOUN
faba-284	230	29	.	.	PUNCT
faba-284	231	1	to	to	PART
faba-284	231	2	complement	complement	VERB
faba-284	231	3	these	these	DET
faba-284	231	4	overlapping	overlap	VERB
faba-284	231	5	regressions	regression	NOUN
faba-284	231	6	with	with	ADP
faba-284	231	7	a	a	DET
faba-284	231	8	non	non	ADJ
faba-284	231	9	-	-	ADJ
faba-284	231	10	overlapping	overlapping	ADJ
faba-284	231	11	robustness	robustness	NOUN
faba-284	231	12	check	check	NOUN
faba-284	231	13	,	,	PUNCT
faba-284	231	14	a	a	DET
faba-284	231	15	walk	walk	NOUN
faba-284	231	16	-	-	PUNCT
faba-284	231	17	forward	forward	ADV
faba-284	231	18	out	out	ADP
faba-284	231	19	-	-	PUNCT
faba-284	231	20	of	of	ADP
faba-284	231	21	-	-	PUNCT
faba-284	231	22	sample	sample	NOUN
faba-284	231	23	validation	validation	NOUN
faba-284	231	24	is	be	AUX
faba-284	231	25	also	also	ADV
faba-284	231	26	performed	perform	VERB
faba-284	231	27	,	,	PUNCT
faba-284	231	28	where	where	SCONJ
faba-284	231	29	each	each	DET
faba-284	231	30	test	test	NOUN
faba-284	231	31	window	window	NOUN
faba-284	231	32	uses	use	VERB
faba-284	231	33	only	only	ADV
faba-284	231	34	data	datum	NOUN
faba-284	231	35	not	not	PART
faba-284	231	36	included	include	VERB
faba-284	231	37	in	in	ADP
faba-284	231	38	the	the	DET
faba-284	231	39	corresponding	corresponding	ADJ
faba-284	231	40	training	training	NOUN
faba-284	231	41	window	window	NOUN
faba-284	231	42	.	.	PUNCT
faba-284	232	1	table	table	NOUN
faba-284	232	2	1	1	NUM
faba-284	232	3	.	.	PUNCT
faba-284	233	1	regression	regression	NOUN
faba-284	233	2	results	result	VERB
faba-284	233	3	alejandro	alejandro	PROPN
faba-284	233	4	rabinovich	rabinovich	PROPN
faba-284	233	5	/	/	SYM
faba-284	233	6	finance	finance	NOUN
faba-284	233	7	,	,	PUNCT
faba-284	233	8	accounting	accounting	NOUN
faba-284	233	9	and	and	CCONJ
faba-284	233	10	business	business	NOUN
faba-284	233	11	analysis	analysis	NOUN
faba-284	233	12	,	,	PUNCT
faba-284	233	13	volume	volume	NOUN
faba-284	233	14	7	7	NUM
faba-284	233	15	,	,	PUNCT
faba-284	233	16	issue	issue	NOUN
faba-284	233	17	2	2	NUM
faba-284	233	18	,	,	PUNCT
faba-284	233	19	2025	2025	NUM
faba-284	233	20	261	261	NUM
faba-284	233	21	period	period	NOUN
faba-284	233	22	coefficient	coefficient	NOUN
faba-284	233	23	α	α	DET
faba-284	233	24	standard	standard	ADJ
faba-284	233	25	error	error	NOUN
faba-284	233	26	t	t	NOUN
faba-284	233	27	stat	stat	NOUN
faba-284	233	28	>	>	X
faba-284	233	29	2	2	NUM
faba-284	233	30	p	p	NOUN
faba-284	233	31	-	-	PUNCT
faba-284	233	32	value	value	NOUN
faba-284	233	33	<	<	X
faba-284	233	34	2.5	2.5	NUM
faba-284	233	35	%	%	NOUN
faba-284	233	36	6/2012	6/2012	PROPN
faba-284	233	37	5/2025	5/2025	NUM
faba-284	234	1	0.00175	0.00175	NUM
faba-284	234	2	0.000299	0.000299	NUM
faba-284	234	3	5.85111	5.85111	NUM
faba-284	234	4	0.00000001	0.00000001	NUM
faba-284	234	5	6/2013	6/2013	NUM
faba-284	234	6	5/2025	5/2025	NUM
faba-284	234	7	0.00149	0.00149	NUM
faba-284	234	8	0.000288	0.000288	NUM
faba-284	234	9	5.15492	5.15492	NUM
faba-284	234	10	0.00000026	0.00000026	NUM
faba-284	234	11	6/2014	6/2014	NUM
faba-284	235	1	5/2025	5/2025	NUM
faba-284	235	2	0.00128	0.00128	NUM
faba-284	235	3	0.000269	0.000269	NUM
faba-284	235	4	4.74974	4.74974	NUM
faba-284	235	5	0.00000211	0.00000211	NUM
faba-284	235	6	6/2015	6/2015	NUM
faba-284	235	7	5/2025	5/2025	NUM
faba-284	235	8	0.00122	0.00122	NUM
faba-284	235	9	0.000271	0.000271	NUM
faba-284	235	10	4.49184	4.49184	NUM
faba-284	235	11	0.00000728	0.00000728	NUM
faba-284	235	12	6/2016	6/2016	NUM
faba-284	235	13	5/2025	5/2025	NUM
faba-284	235	14	0.00131	0.00131	NUM
faba-284	235	15	0.000298	0.000298	NUM
faba-284	235	16	4.40390	4.40390	NUM
faba-284	235	17	0.00001097	0.00001097	NUM
faba-284	235	18	6/2017	6/2017	NUM
faba-284	235	19	5/2025	5/2025	NUM
faba-284	235	20	0.00135	0.00135	NUM
faba-284	235	21	0.000329	0.000329	NUM
faba-284	235	22	4.11187	4.11187	NUM
faba-284	235	23	0.00004034	0.00004034	NUM
faba-284	235	24	6/2018	6/2018	NUM
faba-284	235	25	5/2025	5/2025	NUM
faba-284	235	26	0.00097	0.00097	NUM
faba-284	235	27	0.000309	0.000309	NUM
faba-284	235	28	3.14394	3.14394	NUM
faba-284	235	29	0.00168621	0.00168621	NUM
faba-284	235	30	6/2019	6/2019	NUM
faba-284	235	31	5/2025	5/2025	NUM
faba-284	235	32	0.00075	0.00075	NUM
faba-284	235	33	0.000311	0.000311	NUM
faba-284	235	34	2.42628	2.42628	NUM
faba-284	235	35	0.01533538	0.01533538	NUM
faba-284	235	36	6/2020	6/2020	NUM
faba-284	235	37	5/2025	5/2025	NUM
faba-284	235	38	0.00102	0.00102	NUM
faba-284	235	39	0.000350	0.000350	NUM
faba-284	235	40	2.92183	2.92183	NUM
faba-284	235	41	0.00352306	0.00352306	NUM
faba-284	235	42	6/2021	6/2021	NUM
faba-284	235	43	5/2025	5/2025	NUM
faba-284	235	44	0.00067	0.00067	NUM
faba-284	235	45	0.000376	0.000376	NUM
faba-284	235	46	1.77202	1.77202	NUM
faba-284	235	47	0.07660227	0.07660227	NUM
faba-284	235	48	6/2022	6/2022	NUM
faba-284	235	49	5/2025	5/2025	NUM
faba-284	235	50	0.00062	0.00062	NUM
faba-284	235	51	0.000298	0.000298	NUM
faba-284	235	52	2.06180	2.06180	NUM
faba-284	235	53	0.03946733	0.03946733	NUM
faba-284	235	54	6/2023	6/2023	NUM
faba-284	235	55	5/2025	5/2025	NUM
faba-284	235	56	0.00000	0.00000	NUM
faba-284	235	57	6/2024	6/2024	NUM
faba-284	235	58	5/2025	5/2025	NUM
faba-284	235	59	0.00000	0.00000	NUM
faba-284	235	60	source	source	NOUN
faba-284	235	61	:	:	PUNCT
faba-284	235	62	authors	author	NOUN
faba-284	235	63	’	’	PART
faba-284	235	64	data	datum	NOUN
faba-284	235	65	note	note	NOUN
faba-284	235	66	:	:	PUNCT
faba-284	235	67	during	during	ADP
faba-284	235	68	6/2023–5/2025	6/2023–5/2025	NUM
faba-284	235	69	and	and	CCONJ
faba-284	235	70	6/2024–5/2025	6/2024–5/2025	NUM
faba-284	235	71	the	the	DET
faba-284	235	72	strategy	strategy	NOUN
faba-284	235	73	’s	’s	PART
faba-284	235	74	daily	daily	ADJ
faba-284	235	75	returns	return	NOUN
faba-284	235	76	are	be	AUX
faba-284	235	77	almost	almost	ADV
faba-284	235	78	perfectly	perfectly	ADV
faba-284	235	79	collinear	collinear	ADJ
faba-284	235	80	to	to	ADP
faba-284	235	81	the	the	DET
faba-284	235	82	benchmark	benchmark	NOUN
faba-284	235	83	by	by	ADP
faba-284	235	84	construction	construction	NOUN
faba-284	235	85	,	,	PUNCT
faba-284	235	86	so	so	CCONJ
faba-284	235	87	the	the	DET
faba-284	235	88	regression	regression	NOUN
faba-284	235	89	is	be	AUX
faba-284	235	90	numerically	numerically	ADV
faba-284	235	91	degenerate	degenerate	ADJ
faba-284	235	92	.	.	PUNCT
faba-284	236	1	in	in	ADP
faba-284	236	2	these	these	DET
faba-284	236	3	windows	window	NOUN
faba-284	236	4	α	α	PROPN
faba-284	236	5	is	be	AUX
faba-284	236	6	mechanically	mechanically	ADV
faba-284	236	7	zero	zero	NUM
faba-284	236	8	and	and	CCONJ
faba-284	236	9	conventional	conventional	ADJ
faba-284	236	10	standard	standard	ADJ
faba-284	236	11	errors	error	NOUN
faba-284	236	12	,	,	PUNCT
faba-284	236	13	t	t	PROPN
faba-284	236	14	-	-	PUNCT
faba-284	236	15	statistics	statistic	NOUN
faba-284	236	16	,	,	PUNCT
faba-284	236	17	p	p	NOUN
faba-284	236	18	-	-	PUNCT
faba-284	236	19	values	value	NOUN
faba-284	236	20	and	and	CCONJ
faba-284	236	21	confidence	confidence	NOUN
faba-284	236	22	intervals	interval	NOUN
faba-284	236	23	are	be	AUX
faba-284	236	24	not	not	PART
faba-284	236	25	reported	report	VERB
faba-284	236	26	.	.	PUNCT
faba-284	237	1	residual	residual	ADJ
faba-284	237	2	diagnostics	diagnostic	NOUN
faba-284	237	3	and	and	CCONJ
faba-284	237	4	robust	robust	ADJ
faba-284	237	5	inference	inference	NOUN
faba-284	237	6	to	to	PART
faba-284	237	7	assess	assess	VERB
faba-284	237	8	whether	whether	SCONJ
faba-284	237	9	the	the	DET
faba-284	237	10	ols	ol	NOUN
faba-284	237	11	assumptions	assumption	VERB
faba-284	237	12	underlying	underlie	VERB
faba-284	237	13	table	table	NOUN
faba-284	237	14	1	1	NUM
faba-284	237	15	are	be	AUX
faba-284	237	16	appropriate	appropriate	ADJ
faba-284	237	17	,	,	PUNCT
faba-284	237	18	residual	residual	ADJ
faba-284	237	19	diagnostics	diagnostic	NOUN
faba-284	237	20	were	be	AUX
faba-284	237	21	conducted	conduct	VERB
faba-284	237	22	on	on	ADP
faba-284	237	23	the	the	DET
faba-284	237	24	full	full	ADJ
faba-284	237	25	6/2012–5/2025	6/2012–5/2025	PROPN
faba-284	237	26	sample	sample	NOUN
faba-284	237	27	.	.	PUNCT
faba-284	238	1	the	the	DET
faba-284	238	2	durbin	durbin	ADJ
faba-284	238	3	–	–	PUNCT
faba-284	238	4	watson	watson	NOUN
faba-284	238	5	statistic	statistic	NOUN
faba-284	238	6	for	for	ADP
faba-284	238	7	the	the	DET
faba-284	238	8	regression	regression	NOUN
faba-284	238	9	residuals	residual	NOUN
faba-284	238	10	is	be	AUX
faba-284	238	11	2.10	2.10	NUM
faba-284	238	12	,	,	PUNCT
faba-284	238	13	which	which	PRON
faba-284	238	14	is	be	AUX
faba-284	238	15	close	close	ADJ
faba-284	238	16	to	to	ADP
faba-284	238	17	the	the	DET
faba-284	238	18	theoretical	theoretical	ADJ
faba-284	238	19	value	value	NOUN
faba-284	238	20	of	of	ADP
faba-284	238	21	2	2	NUM
faba-284	238	22	under	under	ADP
faba-284	238	23	no	no	DET
faba-284	238	24	first	first	ADJ
faba-284	238	25	-	-	PUNCT
faba-284	238	26	order	order	NOUN
faba-284	238	27	autocorrelation	autocorrelation	NOUN
faba-284	238	28	.	.	PUNCT
faba-284	239	1	however	however	ADV
faba-284	239	2	,	,	PUNCT
faba-284	239	3	a	a	DET
faba-284	239	4	ljung	ljung	ADJ
faba-284	239	5	–	–	PUNCT
faba-284	239	6	box	box	NOUN
faba-284	239	7	-	-	PUNCT
faba-284	239	8	type	type	NOUN
faba-284	239	9	q	q	NOUN
faba-284	239	10	-	-	NOUN
faba-284	239	11	statistic	statistic	NOUN
faba-284	239	12	at	at	ADP
faba-284	239	13	lag	lag	NOUN
faba-284	239	14	20	20	NUM
faba-284	239	15	of	of	ADP
faba-284	239	16	50.95	50.95	NUM
faba-284	239	17	(	(	PUNCT
faba-284	239	18	p	p	PROPN
faba-284	239	19	≈	≈	PROPN
faba-284	239	20	2.3×10⁻¹⁰	2.3×10⁻¹⁰	NUM
faba-284	239	21	)	)	PUNCT
faba-284	239	22	indicates	indicate	VERB
faba-284	239	23	that	that	SCONJ
faba-284	239	24	,	,	PUNCT
faba-284	239	25	taken	take	VERB
faba-284	239	26	jointly	jointly	ADV
faba-284	239	27	,	,	PUNCT
faba-284	239	28	the	the	DET
faba-284	239	29	residuals	residual	NOUN
faba-284	239	30	exhibit	exhibit	VERB
faba-284	239	31	statistically	statistically	ADV
faba-284	239	32	significant	significant	ADJ
faba-284	239	33	autocorrelation	autocorrelation	NOUN
faba-284	239	34	at	at	ADP
faba-284	239	35	higher	high	ADJ
faba-284	239	36	lags	lag	NOUN
faba-284	239	37	.	.	PUNCT
faba-284	240	1	this	this	PRON
faba-284	240	2	suggests	suggest	VERB
faba-284	240	3	that	that	SCONJ
faba-284	240	4	,	,	PUNCT
faba-284	240	5	while	while	SCONJ
faba-284	240	6	there	there	PRON
faba-284	240	7	is	be	VERB
faba-284	240	8	no	no	DET
faba-284	240	9	strong	strong	ADJ
faba-284	240	10	single	single	ADJ
faba-284	240	11	lag1	lag1	NOUN
faba-284	240	12	effect	effect	NOUN
faba-284	240	13	,	,	PUNCT
faba-284	240	14	serial	serial	ADJ
faba-284	240	15	dependence	dependence	NOUN
faba-284	240	16	is	be	AUX
faba-284	240	17	present	present	ADJ
faba-284	240	18	in	in	ADP
faba-284	240	19	the	the	DET
faba-284	240	20	error	error	NOUN
faba-284	240	21	structure	structure	NOUN
faba-284	240	22	.	.	PUNCT
faba-284	241	1	heteroskedasticity	heteroskedasticity	NOUN
faba-284	241	2	was	be	AUX
faba-284	241	3	examined	examine	VERB
faba-284	241	4	using	use	VERB
faba-284	241	5	both	both	CCONJ
faba-284	241	6	the	the	DET
faba-284	241	7	breusch	breusch	NOUN
faba-284	241	8	–	–	PUNCT
faba-284	241	9	pagan	pagan	ADJ
faba-284	241	10	and	and	CCONJ
faba-284	241	11	white	white	ADJ
faba-284	241	12	tests	test	NOUN
faba-284	241	13	.	.	PUNCT
faba-284	242	1	the	the	DET
faba-284	242	2	breusch	breusch	NOUN
faba-284	242	3	–	–	PUNCT
faba-284	242	4	pagan	pagan	VERB
faba-284	242	5	auxiliary	auxiliary	ADJ
faba-284	242	6	regression	regression	NOUN
faba-284	242	7	of	of	ADP
faba-284	242	8	squared	square	VERB
faba-284	242	9	residuals	residual	NOUN
faba-284	242	10	on	on	ADP
faba-284	242	11	the	the	DET
faba-284	242	12	benchmark	benchmark	NOUN
faba-284	242	13	return	return	NOUN
faba-284	242	14	produces	produce	VERB
faba-284	242	15	r²	r²	NOUN
faba-284	242	16	=	=	SYM
faba-284	242	17	0.000075	0.000075	NUM
faba-284	242	18	,	,	PUNCT
faba-284	242	19	an	an	DET
faba-284	242	20	lm	lm	X
faba-284	242	21	statistic	statistic	NOUN
faba-284	242	22	of	of	ADP
faba-284	242	23	0.35	0.35	NUM
faba-284	242	24	and	and	CCONJ
faba-284	242	25	p	p	NOUN
faba-284	242	26	=	=	PROPN
faba-284	242	27	0.55	0.55	NUM
faba-284	242	28	,	,	PUNCT
faba-284	242	29	so	so	CCONJ
faba-284	242	30	a	a	DET
faba-284	242	31	simple	simple	ADJ
faba-284	242	32	linear	linear	NOUN
faba-284	242	33	relationship	relationship	NOUN
faba-284	242	34	between	between	ADP
faba-284	242	35	the	the	DET
faba-284	242	36	conditional	conditional	ADJ
faba-284	242	37	variance	variance	NOUN
faba-284	242	38	and	and	CCONJ
faba-284	242	39	bm%	bm%	NOUN
faba-284	242	40	is	be	AUX
faba-284	242	41	not	not	PART
faba-284	242	42	supported	support	VERB
faba-284	242	43	.	.	PUNCT
faba-284	243	1	in	in	ADP
faba-284	243	2	contrast	contrast	NOUN
faba-284	243	3	,	,	PUNCT
faba-284	243	4	the	the	DET
faba-284	243	5	white	white	ADJ
faba-284	243	6	test	test	NOUN
faba-284	243	7	yields	yield	NOUN
faba-284	243	8	r²	r²	NOUN
faba-284	243	9	=	=	PUNCT
faba-284	243	10	0.938	0.938	NUM
faba-284	243	11	,	,	PUNCT
faba-284	243	12	lm	lm	X
faba-284	243	13	=	=	VERB
faba-284	243	14	4424.91	4424.91	NUM
faba-284	243	15	with	with	ADP
faba-284	243	16	2	2	NUM
faba-284	243	17	degrees	degree	NOUN
faba-284	243	18	of	of	ADP
faba-284	243	19	freedom	freedom	NOUN
faba-284	243	20	and	and	CCONJ
faba-284	243	21	p	p	X
faba-284	243	22	<	<	X
faba-284	243	23	0.0001	0.0001	NUM
faba-284	243	24	,	,	PUNCT
faba-284	243	25	strongly	strongly	ADV
faba-284	243	26	rejecting	reject	VERB
faba-284	243	27	homoskedasticity	homoskedasticity	NOUN
faba-284	243	28	in	in	ADP
faba-284	243	29	favor	favor	NOUN
faba-284	243	30	of	of	ADP
faba-284	243	31	a	a	DET
faba-284	243	32	more	more	ADV
faba-284	243	33	general	general	ADJ
faba-284	243	34	form	form	NOUN
faba-284	243	35	of	of	ADP
faba-284	243	36	heteroskedasticity	heteroskedasticity	NOUN
faba-284	243	37	.	.	PUNCT
faba-284	244	1	this	this	DET
faba-284	244	2	outcome	outcome	NOUN
faba-284	244	3	is	be	AUX
faba-284	244	4	consistent	consistent	ADJ
faba-284	244	5	with	with	ADP
faba-284	244	6	the	the	DET
faba-284	244	7	well	well	ADV
faba-284	244	8	-	-	PUNCT
faba-284	244	9	known	know	VERB
faba-284	244	10	volatility	volatility	NOUN
faba-284	244	11	clustering	cluster	VERB
faba-284	244	12	observed	observe	VERB
faba-284	244	13	in	in	ADP
faba-284	244	14	bitcoin	bitcoin	ADJ
faba-284	244	15	returns	return	NOUN
faba-284	244	16	and	and	CCONJ
faba-284	244	17	suggests	suggest	VERB
faba-284	244	18	that	that	SCONJ
faba-284	244	19	ols	ol	NOUN
faba-284	244	20	standard	standard	ADJ
faba-284	244	21	errors	error	NOUN
faba-284	244	22	are	be	AUX
faba-284	244	23	likely	likely	ADJ
faba-284	244	24	to	to	PART
faba-284	244	25	be	be	AUX
faba-284	244	26	understated	understate	VERB
faba-284	244	27	.	.	PUNCT
faba-284	245	1	to	to	PART
faba-284	245	2	obtain	obtain	VERB
faba-284	245	3	more	more	ADV
faba-284	245	4	reliable	reliable	ADJ
faba-284	245	5	inference	inference	NOUN
faba-284	245	6	in	in	ADP
faba-284	245	7	the	the	DET
faba-284	245	8	presence	presence	NOUN
faba-284	245	9	of	of	ADP
faba-284	245	10	both	both	DET
faba-284	245	11	autocorrelation	autocorrelation	NOUN
faba-284	245	12	and	and	CCONJ
faba-284	245	13	heteroskedasticity	heteroskedasticity	NOUN
faba-284	245	14	,	,	PUNCT
faba-284	245	15	newey	newey	PROPN
faba-284	245	16	–	–	PUNCT
faba-284	245	17	west	west	PROPN
faba-284	245	18	heteroskedasticityand	heteroskedasticityand	PROPN
faba-284	245	19	autocorrelation	autocorrelation	NOUN
faba-284	245	20	-	-	PUNCT
faba-284	245	21	consistent	consistent	ADJ
faba-284	245	22	(	(	PUNCT
faba-284	245	23	hac	hac	NOUN
faba-284	245	24	)	)	PUNCT
faba-284	245	25	standard	standard	ADJ
faba-284	245	26	errors	error	NOUN
faba-284	245	27	were	be	AUX
faba-284	245	28	computed	compute	VERB
faba-284	245	29	for	for	ADP
faba-284	245	30	the	the	DET
faba-284	245	31	intercept	intercept	NOUN
faba-284	245	32	α	α	NOUN
faba-284	245	33	in	in	ADP
faba-284	245	34	each	each	DET
faba-284	245	35	regression	regression	NOUN
faba-284	245	36	window	window	NOUN
faba-284	245	37	(	(	PUNCT
faba-284	245	38	annex	annex	VERB
faba-284	245	39	table	table	NOUN
faba-284	245	40	5	5	NUM
faba-284	245	41	)	)	PUNCT
faba-284	245	42	.	.	PUNCT
faba-284	246	1	for	for	ADP
faba-284	246	2	the	the	DET
faba-284	246	3	full	full	ADJ
faba-284	246	4	sample	sample	NOUN
faba-284	246	5	(	(	PUNCT
faba-284	246	6	6/2012–5/2025	6/2012–5/2025	PROPN
faba-284	246	7	)	)	PUNCT
faba-284	246	8	,	,	PUNCT
faba-284	246	9	the	the	DET
faba-284	246	10	ols	ol	NOUN
faba-284	246	11	estimate	estimate	NOUN
faba-284	246	12	of	of	ADP
faba-284	246	13	α	α	PROPN
faba-284	246	14	is	be	AUX
faba-284	246	15	0.00175	0.00175	NUM
faba-284	246	16	with	with	ADP
faba-284	246	17	a	a	DET
faba-284	246	18	t	t	NOUN
faba-284	246	19	-	-	PUNCT
faba-284	246	20	statistic	statistic	NOUN
faba-284	246	21	of	of	ADP
faba-284	246	22	5.85	5.85	NUM
faba-284	246	23	(	(	PUNCT
faba-284	246	24	p	p	PROPN
faba-284	247	1	≈	≈	PROPN
faba-284	247	2	1×10⁻⁸	1×10⁻⁸	NUM
faba-284	247	3	)	)	PUNCT
faba-284	247	4	.	.	PUNCT
faba-284	248	1	when	when	SCONJ
faba-284	248	2	newey	newey	PROPN
faba-284	248	3	–	–	PUNCT
faba-284	248	4	west	west	PROPN
faba-284	248	5	hac	hac	PROPN
faba-284	248	6	standard	standard	ADJ
faba-284	248	7	errors	error	NOUN
faba-284	248	8	are	be	AUX
faba-284	248	9	used	use	VERB
faba-284	248	10	,	,	PUNCT
faba-284	248	11	the	the	DET
faba-284	248	12	standard	standard	ADJ
faba-284	248	13	error	error	NOUN
faba-284	248	14	of	of	ADP
faba-284	248	15	α	α	PRON
faba-284	248	16	increases	increase	NOUN
faba-284	248	17	from	from	ADP
faba-284	248	18	0.000299	0.000299	NUM
faba-284	248	19	to	to	ADP
faba-284	248	20	0.000410	0.000410	NUM
faba-284	248	21	and	and	CCONJ
faba-284	248	22	the	the	DET
faba-284	248	23	t	t	NOUN
faba-284	248	24	-	-	PUNCT
faba-284	248	25	statistic	statistic	NOUN
faba-284	248	26	decreases	decrease	NOUN
faba-284	248	27	to	to	ADP
faba-284	248	28	4.27	4.27	NUM
faba-284	248	29	(	(	PUNCT
faba-284	248	30	p	p	X
faba-284	248	31	≈	≈	PROPN
faba-284	248	32	2×10⁻⁵	2×10⁻⁵	NUM
faba-284	248	33	)	)	PUNCT
faba-284	248	34	,	,	PUNCT
faba-284	248	35	which	which	PRON
faba-284	248	36	still	still	ADV
faba-284	248	37	represents	represent	VERB
faba-284	248	38	strong	strong	ADJ
faba-284	248	39	statistical	statistical	ADJ
faba-284	248	40	evidence	evidence	NOUN
faba-284	248	41	of	of	ADP
faba-284	248	42	a	a	DET
faba-284	248	43	positive	positive	ADJ
faba-284	248	44	intercept	intercept	NOUN
faba-284	248	45	.	.	PUNCT
faba-284	249	1	across	across	ADP
faba-284	249	2	the	the	DET
faba-284	249	3	pre-2023	pre-2023	NOUN
faba-284	249	4	windows	window	NOUN
faba-284	249	5	(	(	PUNCT
faba-284	249	6	6/2012–5/2025	6/2012–5/2025	PROPN
faba-284	249	7	through	through	ADP
faba-284	249	8	6/2022–5/2025	6/2022–5/2025	NUM
faba-284	249	9	)	)	PUNCT
faba-284	249	10	,	,	PUNCT
faba-284	249	11	α	α	PROPN
faba-284	249	12	remains	remain	VERB
faba-284	249	13	positive	positive	ADJ
faba-284	249	14	in	in	ADP
faba-284	249	15	all	all	DET
faba-284	249	16	cases	case	NOUN
faba-284	249	17	and	and	CCONJ
faba-284	249	18	statistically	statistically	ADV
faba-284	249	19	significant	significant	ADJ
faba-284	249	20	at	at	ADP
faba-284	249	21	the	the	DET
faba-284	249	22	5	5	NUM
faba-284	249	23	%	%	NOUN
faba-284	249	24	level	level	NOUN
faba-284	249	25	in	in	ADP
faba-284	249	26	9	9	NUM
faba-284	249	27	out	out	ADP
faba-284	249	28	of	of	ADP
faba-284	249	29	11	11	NUM
faba-284	249	30	regressions	regression	NOUN
faba-284	249	31	under	under	ADP
faba-284	249	32	hac	hac	NOUN
faba-284	249	33	inference	inference	NOUN
faba-284	249	34	.	.	PUNCT
faba-284	250	1	the	the	DET
faba-284	250	2	two	two	NUM
faba-284	250	3	exceptions	exception	NOUN
faba-284	250	4	are	be	AUX
faba-284	250	5	the	the	DET
faba-284	250	6	very	very	ADV
faba-284	250	7	short	short	ADJ
faba-284	250	8	6/2021–5/2025	6/2021–5/2025	NUM
faba-284	250	9	and	and	CCONJ
faba-284	250	10	6/2022–5/2025	6/2022–5/2025	NUM
faba-284	250	11	samples	sample	NOUN
faba-284	250	12	,	,	PUNCT
faba-284	250	13	where	where	SCONJ
faba-284	250	14	the	the	DET
faba-284	250	15	reduced	reduce	VERB
faba-284	250	16	number	number	NOUN
faba-284	250	17	of	of	ADP
faba-284	250	18	observations	observation	NOUN
faba-284	250	19	and	and	CCONJ
faba-284	250	20	elevated	elevated	ADJ
faba-284	250	21	volatility	volatility	NOUN
faba-284	250	22	make	make	VERB
faba-284	250	23	it	it	PRON
faba-284	250	24	more	more	ADV
faba-284	250	25	difficult	difficult	ADJ
faba-284	250	26	to	to	PART
faba-284	250	27	distinguish	distinguish	VERB
faba-284	250	28	α	α	NOUN
faba-284	250	29	from	from	ADP
faba-284	250	30	zero	zero	NUM
faba-284	250	31	once	once	SCONJ
faba-284	250	32	serial	serial	ADJ
faba-284	250	33	dependence	dependence	NOUN
faba-284	250	34	and	and	CCONJ
faba-284	250	35	heteroskedasticity	heteroskedasticity	NOUN
faba-284	250	36	are	be	AUX
faba-284	250	37	accounted	account	VERB
faba-284	250	38	for	for	ADP
faba-284	250	39	.	.	PUNCT
faba-284	251	1	overall	overall	ADV
faba-284	251	2	,	,	PUNCT
faba-284	251	3	the	the	DET
faba-284	251	4	hac	hac	NOUN
faba-284	251	5	results	result	NOUN
faba-284	251	6	confirm	confirm	VERB
faba-284	251	7	that	that	SCONJ
faba-284	251	8	the	the	DET
faba-284	251	9	main	main	ADJ
faba-284	251	10	conclusion	conclusion	NOUN
faba-284	251	11	—	—	PUNCT
faba-284	251	12	a	a	DET
faba-284	251	13	positive	positive	ADJ
faba-284	251	14	and	and	CCONJ
faba-284	251	15	economically	economically	ADV
faba-284	251	16	meaningful	meaningful	ADJ
faba-284	251	17	α	α	NOUN
faba-284	251	18	over	over	ADP
faba-284	251	19	the	the	DET
faba-284	251	20	full	full	ADJ
faba-284	251	21	sample	sample	NOUN
faba-284	251	22	and	and	CCONJ
faba-284	251	23	most	most	ADJ
faba-284	251	24	subperiods	subperiod	NOUN
faba-284	251	25	—	—	PUNCT
faba-284	251	26	is	be	AUX
faba-284	251	27	robust	robust	ADJ
faba-284	251	28	to	to	ADP
faba-284	251	29	more	more	ADV
faba-284	251	30	stringent	stringent	ADJ
faba-284	251	31	statistical	statistical	ADJ
faba-284	251	32	assumptions	assumption	NOUN
faba-284	251	33	.	.	PUNCT
faba-284	252	1	viewed	view	VERB
faba-284	252	2	together	together	ADV
faba-284	252	3	,	,	PUNCT
faba-284	252	4	the	the	DET
faba-284	252	5	residual	residual	ADJ
faba-284	252	6	diagnostics	diagnostic	NOUN
faba-284	252	7	,	,	PUNCT
faba-284	252	8	hac	hac	VERB
faba-284	252	9	-	-	PUNCT
faba-284	252	10	based	base	VERB
faba-284	252	11	inference	inference	NOUN
faba-284	252	12	and	and	CCONJ
faba-284	252	13	walk	walk	NOUN
faba-284	252	14	-	-	PUNCT
faba-284	252	15	forward	forward	NOUN
faba-284	252	16	validation	validation	NOUN
faba-284	252	17	indicate	indicate	VERB
faba-284	252	18	that	that	SCONJ
faba-284	252	19	the	the	DET
faba-284	252	20	strategy	strategy	NOUN
faba-284	252	21	’s	’s	PART
faba-284	252	22	excess	excess	ADJ
faba-284	252	23	returns	return	NOUN
faba-284	252	24	are	be	AUX
faba-284	252	25	statistically	statistically	ADV
faba-284	252	26	robust	robust	ADJ
faba-284	252	27	in	in	ADP
faba-284	252	28	most	most	ADJ
faba-284	252	29	of	of	ADP
faba-284	252	30	the	the	DET
faba-284	252	31	examined	examine	VERB
faba-284	252	32	periods	period	NOUN
faba-284	252	33	,	,	PUNCT
faba-284	252	34	while	while	SCONJ
faba-284	252	35	also	also	ADV
faba-284	252	36	making	make	VERB
faba-284	252	37	clear	clear	ADJ
faba-284	252	38	that	that	SCONJ
faba-284	252	39	the	the	DET
faba-284	252	40	evidence	evidence	NOUN
faba-284	252	41	is	be	AUX
faba-284	252	42	sample	sample	NOUN
faba-284	252	43	-	-	PUNCT
faba-284	252	44	specific	specific	NOUN
faba-284	252	45	and	and	CCONJ
faba-284	252	46	that	that	SCONJ
faba-284	252	47	performance	performance	NOUN
faba-284	252	48	varies	vary	VERB
faba-284	252	49	across	across	ADP
faba-284	252	50	market	market	NOUN
faba-284	252	51	regimes	regime	NOUN
faba-284	252	52	.	.	PUNCT
faba-284	253	1	overall	overall	ADV
faba-284	253	2	,	,	PUNCT
faba-284	253	3	these	these	DET
faba-284	253	4	diagnostics	diagnostic	NOUN
faba-284	253	5	,	,	PUNCT
faba-284	253	6	combined	combine	VERB
faba-284	253	7	with	with	ADP
faba-284	253	8	the	the	DET
faba-284	253	9	well	well	ADV
faba-284	253	10	-	-	PUNCT
faba-284	253	11	known	know	VERB
faba-284	253	12	volatility	volatility	NOUN
faba-284	253	13	clustering	cluster	VERB
faba-284	253	14	in	in	ADP
faba-284	253	15	bitcoin	bitcoin	ADJ
faba-284	253	16	returns	return	NOUN
faba-284	253	17	,	,	PUNCT
faba-284	253	18	are	be	AUX
faba-284	253	19	consistent	consistent	ADJ
faba-284	253	20	with	with	ADP
faba-284	253	21	the	the	DET
faba-284	253	22	view	view	NOUN
faba-284	253	23	that	that	SCONJ
faba-284	253	24	cryptocurrency	cryptocurrency	NOUN
faba-284	253	25	markets	market	NOUN
faba-284	253	26	are	be	AUX
faba-284	253	27	non	non	ADJ
faba-284	253	28	-	-	ADJ
faba-284	253	29	stationary	stationary	ADJ
faba-284	253	30	and	and	CCONJ
faba-284	253	31	subject	subject	ADJ
faba-284	253	32	to	to	ADP
faba-284	253	33	frequent	frequent	ADJ
faba-284	253	34	external	external	ADJ
faba-284	253	35	shocks	shock	NOUN
faba-284	253	36	(	(	PUNCT
faba-284	253	37	e.g.	e.g.	ADV
faba-284	253	38	regulatory	regulatory	ADJ
faba-284	253	39	announcements	announcement	NOUN
faba-284	253	40	,	,	PUNCT
faba-284	253	41	exchange	exchange	NOUN
faba-284	253	42	-	-	PUNCT
faba-284	253	43	specific	specific	ADJ
faba-284	253	44	incidents	incident	NOUN
faba-284	253	45	,	,	PUNCT
faba-284	253	46	and	and	CCONJ
faba-284	253	47	macroeconomic	macroeconomic	ADJ
faba-284	253	48	policy	policy	NOUN
faba-284	253	49	shifts	shift	NOUN
faba-284	253	50	)	)	PUNCT
faba-284	253	51	,	,	PUNCT
faba-284	253	52	which	which	PRON
faba-284	253	53	limits	limit	VERB
faba-284	253	54	the	the	DET
faba-284	253	55	predictive	predictive	ADJ
faba-284	253	56	stability	stability	NOUN
faba-284	253	57	of	of	ADP
faba-284	253	58	any	any	DET
faba-284	253	59	single	single	ADJ
faba-284	253	60	rule	rule	NOUN
faba-284	253	61	-	-	PUNCT
faba-284	253	62	based	base	VERB
faba-284	253	63	strategy	strategy	NOUN
faba-284	253	64	.	.	PUNCT
faba-284	254	1	this	this	PRON
faba-284	254	2	motivates	motivate	VERB
faba-284	254	3	a	a	DET
faba-284	254	4	cautious	cautious	ADJ
faba-284	254	5	interpretation	interpretation	NOUN
faba-284	254	6	:	:	PUNCT
faba-284	254	7	the	the	DET
faba-284	254	8	results	result	NOUN
faba-284	254	9	provide	provide	VERB
faba-284	254	10	strong	strong	ADJ
faba-284	254	11	historical	historical	ADJ
faba-284	254	12	evidence	evidence	NOUN
faba-284	254	13	consistent	consistent	ADJ
faba-284	254	14	with	with	ADP
faba-284	254	15	a	a	DET
faba-284	254	16	positive	positive	ADJ
faba-284	254	17	α	α	NOUN
faba-284	254	18	for	for	ADP
faba-284	254	19	this	this	DET
faba-284	254	20	halving	halve	VERB
faba-284	254	21	-	-	PUNCT
faba-284	254	22	centric	centric	NOUN
faba-284	254	23	strategy	strategy	NOUN
faba-284	254	24	,	,	PUNCT
faba-284	254	25	rather	rather	ADV
faba-284	254	26	than	than	ADP
faba-284	254	27	a	a	DET
faba-284	254	28	guarantee	guarantee	NOUN
faba-284	254	29	of	of	ADP
faba-284	254	30	persistent	persistent	ADJ
faba-284	254	31	arbitrage	arbitrage	NOUN
faba-284	254	32	or	or	CCONJ
faba-284	254	33	a	a	DET
faba-284	254	34	recommendation	recommendation	NOUN
faba-284	254	35	of	of	ADP
faba-284	254	36	the	the	DET
faba-284	254	37	strategy	strategy	NOUN
faba-284	254	38	as	as	ADP
faba-284	254	39	investment	investment	NOUN
faba-284	254	40	advice	advice	NOUN
faba-284	254	41	.	.	PUNCT
faba-284	255	1	out	out	ADP
faba-284	255	2	-	-	PUNCT
faba-284	255	3	of	of	ADP
faba-284	255	4	-	-	PUNCT
faba-284	255	5	sample	sample	NOUN
faba-284	255	6	walk	walk	VERB
faba-284	255	7	-	-	PUNCT
faba-284	255	8	forward	forward	ADV
faba-284	255	9	validation	validation	NOUN
faba-284	255	10	alejandro	alejandro	PROPN
faba-284	255	11	rabinovich	rabinovich	PROPN
faba-284	255	12	/	/	SYM
faba-284	255	13	finance	finance	NOUN
faba-284	255	14	,	,	PUNCT
faba-284	255	15	accounting	accounting	NOUN
faba-284	255	16	and	and	CCONJ
faba-284	255	17	business	business	NOUN
faba-284	255	18	analysis	analysis	NOUN
faba-284	255	19	,	,	PUNCT
faba-284	255	20	volume	volume	NOUN
faba-284	255	21	7	7	NUM
faba-284	255	22	,	,	PUNCT
faba-284	255	23	issue	issue	NOUN
faba-284	255	24	2	2	NUM
faba-284	255	25	,	,	PUNCT
faba-284	255	26	2025	2025	NUM
faba-284	255	27	262	262	NUM
faba-284	255	28	in	in	ADP
faba-284	255	29	addition	addition	NOUN
faba-284	255	30	to	to	ADP
faba-284	255	31	the	the	DET
faba-284	255	32	in	in	ADP
faba-284	255	33	-	-	PUNCT
faba-284	255	34	sample	sample	NOUN
faba-284	255	35	regressions	regression	NOUN
faba-284	255	36	,	,	PUNCT
faba-284	255	37	a	a	DET
faba-284	255	38	simple	simple	ADJ
faba-284	255	39	walk	walk	NOUN
faba-284	255	40	-	-	PUNCT
faba-284	255	41	forward	forward	NOUN
faba-284	255	42	analysis	analysis	NOUN
faba-284	255	43	was	be	AUX
faba-284	255	44	implemented	implement	VERB
faba-284	255	45	to	to	PART
faba-284	255	46	evaluate	evaluate	VERB
faba-284	255	47	the	the	DET
faba-284	255	48	strategy	strategy	NOUN
faba-284	255	49	’s	’s	PART
faba-284	255	50	performance	performance	NOUN
faba-284	255	51	in	in	ADP
faba-284	255	52	a	a	DET
faba-284	255	53	genuinely	genuinely	ADV
faba-284	255	54	out	out	ADV
faba-284	255	55	-	-	PUNCT
faba-284	255	56	of	of	ADP
faba-284	255	57	-	-	PUNCT
faba-284	255	58	sample	sample	NOUN
faba-284	255	59	setting	setting	NOUN
faba-284	255	60	.	.	PUNCT
faba-284	256	1	using	use	VERB
faba-284	256	2	the	the	DET
faba-284	256	3	june	june	PROPN
faba-284	256	4	–	–	PUNCT
faba-284	256	5	may	may	AUX
faba-284	256	6	convention	convention	VERB
faba-284	256	7	for	for	ADP
faba-284	256	8	“	"	PUNCT
faba-284	256	9	years	year	NOUN
faba-284	256	10	”	"	PUNCT
faba-284	256	11	,	,	PUNCT
faba-284	256	12	rolling	roll	VERB
faba-284	256	13	3	3	NUM
faba-284	256	14	-	-	PUNCT
faba-284	256	15	year	year	NOUN
faba-284	256	16	windows	window	NOUN
faba-284	256	17	were	be	AUX
faba-284	256	18	treated	treat	VERB
faba-284	256	19	as	as	ADP
faba-284	256	20	training	training	NOUN
faba-284	256	21	periods	period	NOUN
faba-284	256	22	and	and	CCONJ
faba-284	256	23	the	the	DET
faba-284	256	24	following	following	ADJ
faba-284	256	25	june	june	PROPN
faba-284	256	26	–	–	PUNCT
faba-284	256	27	may	may	AUX
faba-284	256	28	year	year	NOUN
faba-284	256	29	as	as	ADP
faba-284	256	30	a	a	DET
faba-284	256	31	test	test	NOUN
faba-284	256	32	period	period	NOUN
faba-284	256	33	.	.	PUNCT
faba-284	257	1	this	this	DET
faba-284	257	2	procedure	procedure	NOUN
faba-284	257	3	yields	yield	VERB
faba-284	257	4	ten	ten	NUM
faba-284	257	5	non	non	ADJ
faba-284	257	6	-	-	ADJ
faba-284	257	7	overlapping	overlapping	ADJ
faba-284	257	8	test	test	NOUN
faba-284	257	9	windows	window	NOUN
faba-284	257	10	from	from	ADP
faba-284	257	11	2014–2015	2014–2015	NUM
faba-284	257	12	up	up	ADP
faba-284	257	13	to	to	ADP
faba-284	257	14	2023–2024	2023–2024	NUM
faba-284	257	15	(	(	PUNCT
faba-284	257	16	see	see	VERB
faba-284	257	17	annex	annex	ADJ
faba-284	257	18	table	table	NOUN
faba-284	257	19	6	6	NUM
faba-284	257	20	)	)	PUNCT
faba-284	257	21	.	.	PUNCT
faba-284	258	1	the	the	DET
faba-284	258	2	trading	trading	NOUN
faba-284	258	3	rules	rule	NOUN
faba-284	258	4	themselves	themselves	PRON
faba-284	258	5	are	be	AUX
faba-284	258	6	fixed	fix	VERB
faba-284	258	7	ex	ex	PRON
faba-284	258	8	ante	ante	NOUN
faba-284	258	9	;	;	PUNCT
faba-284	258	10	the	the	DET
faba-284	258	11	walk	walk	VERB
faba-284	258	12	-	-	PUNCT
faba-284	258	13	forward	forward	ADV
faba-284	258	14	split	split	NOUN
faba-284	258	15	is	be	AUX
faba-284	258	16	simply	simply	ADV
faba-284	258	17	a	a	DET
faba-284	258	18	way	way	NOUN
faba-284	258	19	of	of	ADP
faba-284	258	20	asking	ask	VERB
faba-284	258	21	how	how	SCONJ
faba-284	258	22	the	the	DET
faba-284	258	23	strategy	strategy	NOUN
faba-284	258	24	would	would	AUX
faba-284	258	25	have	have	AUX
faba-284	258	26	performed	perform	VERB
faba-284	258	27	if	if	SCONJ
faba-284	258	28	each	each	DET
faba-284	258	29	test	test	NOUN
faba-284	258	30	year	year	NOUN
faba-284	258	31	had	have	AUX
faba-284	258	32	not	not	PART
faba-284	258	33	been	be	AUX
faba-284	258	34	used	use	VERB
faba-284	258	35	in	in	ADP
faba-284	258	36	calibrating	calibrate	VERB
faba-284	258	37	the	the	DET
faba-284	258	38	model	model	NOUN
faba-284	258	39	.	.	PUNCT
faba-284	259	1	across	across	ADP
faba-284	259	2	these	these	DET
faba-284	259	3	ten	ten	NUM
faba-284	259	4	out	out	ADV
faba-284	259	5	-	-	PUNCT
faba-284	259	6	of	of	ADP
faba-284	259	7	-	-	PUNCT
faba-284	259	8	sample	sample	NOUN
faba-284	259	9	test	test	NOUN
faba-284	259	10	years	year	NOUN
faba-284	259	11	,	,	PUNCT
faba-284	259	12	the	the	DET
faba-284	259	13	strategy	strategy	NOUN
faba-284	259	14	delivers	deliver	VERB
faba-284	259	15	a	a	DET
faba-284	259	16	positive	positive	ADJ
faba-284	259	17	annualized	annualize	VERB
faba-284	259	18	test	test	NOUN
faba-284	259	19	return	return	NOUN
faba-284	259	20	in	in	ADP
faba-284	259	21	nine	nine	NUM
faba-284	259	22	out	out	ADP
faba-284	259	23	of	of	ADP
faba-284	259	24	ten	ten	NUM
faba-284	259	25	cases	case	NOUN
faba-284	259	26	.	.	PUNCT
faba-284	260	1	the	the	DET
faba-284	260	2	average	average	NOUN
faba-284	260	3	annualized	annualize	VERB
faba-284	260	4	out	out	ADP
faba-284	260	5	-	-	PUNCT
faba-284	260	6	of	of	ADP
faba-284	260	7	-	-	PUNCT
faba-284	260	8	sample	sample	NOUN
faba-284	260	9	return	return	NOUN
faba-284	260	10	of	of	ADP
faba-284	260	11	the	the	DET
faba-284	260	12	strategy	strategy	NOUN
faba-284	260	13	is	be	AUX
faba-284	260	14	approximately	approximately	ADV
faba-284	260	15	108.9	108.9	NUM
faba-284	260	16	%	%	NOUN
faba-284	260	17	per	per	ADP
faba-284	260	18	year	year	NOUN
faba-284	260	19	,	,	PUNCT
faba-284	260	20	compared	compare	VERB
faba-284	260	21	with	with	ADP
faba-284	260	22	about	about	ADV
faba-284	260	23	67.3	67.3	NUM
faba-284	260	24	%	%	NOUN
faba-284	260	25	for	for	ADP
faba-284	260	26	the	the	DET
faba-284	260	27	buy	buy	VERB
faba-284	260	28	-	-	PUNCT
faba-284	260	29	and	and	CCONJ
faba-284	260	30	-	-	PUNCT
faba-284	260	31	hold	hold	VERB
faba-284	260	32	benchmark	benchmark	NOUN
faba-284	260	33	over	over	ADP
faba-284	260	34	the	the	DET
faba-284	260	35	same	same	ADJ
faba-284	260	36	test	test	NOUN
faba-284	260	37	windows	window	NOUN
faba-284	260	38	.	.	PUNCT
faba-284	261	1	the	the	DET
faba-284	261	2	largest	large	ADJ
faba-284	261	3	relative	relative	ADJ
faba-284	261	4	gains	gain	NOUN
faba-284	261	5	occur	occur	VERB
faba-284	261	6	in	in	ADP
faba-284	261	7	the	the	DET
faba-284	261	8	2017	2017	NUM
faba-284	261	9	,	,	PUNCT
faba-284	261	10	2018	2018	NUM
faba-284	261	11	,	,	PUNCT
faba-284	261	12	2020	2020	NUM
faba-284	261	13	and	and	CCONJ
faba-284	261	14	2022	2022	NUM
faba-284	261	15	test	test	NOUN
faba-284	261	16	years	year	NOUN
faba-284	261	17	,	,	PUNCT
faba-284	261	18	where	where	SCONJ
faba-284	261	19	the	the	DET
faba-284	261	20	strategy	strategy	NOUN
faba-284	261	21	both	both	PRON
faba-284	261	22	amplifies	amplify	VERB
faba-284	261	23	major	major	ADJ
faba-284	261	24	bull	bull	NOUN
faba-284	261	25	markets	market	NOUN
faba-284	261	26	and	and	CCONJ
faba-284	261	27	either	either	CCONJ
faba-284	261	28	cushions	cushion	NOUN
faba-284	261	29	or	or	CCONJ
faba-284	261	30	reverses	reverse	VERB
faba-284	261	31	benchmark	benchmark	NOUN
faba-284	261	32	losses	loss	NOUN
faba-284	261	33	.	.	PUNCT
faba-284	262	1	in	in	ADP
faba-284	262	2	other	other	ADJ
faba-284	262	3	years	year	NOUN
faba-284	262	4	,	,	PUNCT
faba-284	262	5	such	such	ADJ
faba-284	262	6	as	as	ADP
faba-284	262	7	2015	2015	NUM
faba-284	262	8	,	,	PUNCT
faba-284	262	9	2016	2016	NUM
faba-284	262	10	,	,	PUNCT
faba-284	262	11	2019	2019	NUM
faba-284	262	12	,	,	PUNCT
faba-284	262	13	2023	2023	NUM
faba-284	262	14	and	and	CCONJ
faba-284	262	15	2024	2024	NUM
faba-284	262	16	,	,	PUNCT
faba-284	262	17	the	the	DET
faba-284	262	18	strategy	strategy	NOUN
faba-284	262	19	closely	closely	ADV
faba-284	262	20	tracks	track	VERB
faba-284	262	21	the	the	DET
faba-284	262	22	benchmark	benchmark	NOUN
faba-284	262	23	,	,	PUNCT
faba-284	262	24	so	so	SCONJ
faba-284	262	25	it	it	PRON
faba-284	262	26	does	do	AUX
faba-284	262	27	not	not	PART
faba-284	262	28	introduce	introduce	VERB
faba-284	262	29	significant	significant	ADJ
faba-284	262	30	negative	negative	ADJ
faba-284	262	31	drag	drag	NOUN
faba-284	262	32	when	when	SCONJ
faba-284	262	33	its	its	PRON
faba-284	262	34	signals	signal	NOUN
faba-284	262	35	are	be	AUX
faba-284	262	36	less	less	ADV
faba-284	262	37	distinctive	distinctive	ADJ
faba-284	262	38	.	.	PUNCT
faba-284	263	1	these	these	DET
faba-284	263	2	walk	walk	NOUN
faba-284	263	3	-	-	PUNCT
faba-284	263	4	forward	forward	NOUN
faba-284	263	5	results	result	NOUN
faba-284	263	6	therefore	therefore	ADV
faba-284	263	7	support	support	VERB
faba-284	263	8	the	the	DET
faba-284	263	9	view	view	NOUN
faba-284	263	10	that	that	SCONJ
faba-284	263	11	the	the	DET
faba-284	263	12	observed	observed	ADJ
faba-284	263	13	outperformance	outperformance	NOUN
faba-284	263	14	is	be	AUX
faba-284	263	15	not	not	PART
faba-284	263	16	solely	solely	ADV
faba-284	263	17	an	an	DET
faba-284	263	18	artefact	artefact	NOUN
faba-284	263	19	of	of	ADP
faba-284	263	20	in	in	ADP
faba-284	263	21	-	-	PUNCT
faba-284	263	22	sample	sample	NOUN
faba-284	263	23	fitting	fitting	NOUN
faba-284	263	24	to	to	ADP
faba-284	263	25	a	a	DET
faba-284	263	26	single	single	ADJ
faba-284	263	27	long	long	ADJ
faba-284	263	28	window	window	NOUN
faba-284	263	29	,	,	PUNCT
faba-284	263	30	but	but	CCONJ
faba-284	263	31	persists	persist	VERB
faba-284	263	32	—	—	PUNCT
faba-284	263	33	albeit	albeit	SCONJ
faba-284	263	34	with	with	ADP
faba-284	263	35	variability	variability	NOUN
faba-284	263	36	—	—	PUNCT
faba-284	263	37	across	across	ADP
faba-284	263	38	a	a	DET
faba-284	263	39	sequence	sequence	NOUN
faba-284	263	40	of	of	ADP
faba-284	263	41	genuinely	genuinely	ADV
faba-284	263	42	out	out	ADV
faba-284	263	43	-	-	PUNCT
faba-284	263	44	of	of	ADP
faba-284	263	45	-	-	PUNCT
faba-284	263	46	sample	sample	NOUN
faba-284	263	47	periods	period	NOUN
faba-284	263	48	.	.	PUNCT
faba-284	264	1	cumulative	cumulative	ADJ
faba-284	264	2	return	return	NOUN
faba-284	264	3	comparison	comparison	NOUN
faba-284	264	4	when	when	SCONJ
faba-284	264	5	examining	examine	VERB
faba-284	264	6	the	the	DET
faba-284	264	7	yearly	yearly	ADJ
faba-284	264	8	cumulative	cumulative	ADJ
faba-284	264	9	returns	return	NOUN
faba-284	264	10	of	of	ADP
faba-284	264	11	benchmark	benchmark	NOUN
faba-284	264	12	versus	versus	ADP
faba-284	264	13	the	the	DET
faba-284	264	14	strategy	strategy	NOUN
faba-284	264	15	several	several	ADJ
faba-284	264	16	things	thing	NOUN
faba-284	264	17	can	can	AUX
faba-284	264	18	be	be	AUX
faba-284	264	19	noticed	notice	VERB
faba-284	264	20	.	.	PUNCT
faba-284	265	1	the	the	DET
faba-284	265	2	first	first	ADJ
faba-284	265	3	one	one	NUM
faba-284	265	4	,	,	PUNCT
faba-284	265	5	that	that	SCONJ
faba-284	265	6	when	when	SCONJ
faba-284	265	7	btc	btc	ADJ
faba-284	265	8	rallies	rally	NOUN
faba-284	265	9	,	,	PUNCT
faba-284	265	10	the	the	DET
faba-284	265	11	strategy	strategy	NOUN
faba-284	265	12	outperforms	outperform	VERB
faba-284	265	13	the	the	DET
faba-284	265	14	returns	return	NOUN
faba-284	265	15	of	of	ADP
faba-284	265	16	a	a	DET
faba-284	265	17	passive	passive	ADJ
faba-284	265	18	approach	approach	NOUN
faba-284	265	19	,	,	PUNCT
faba-284	265	20	as	as	SCONJ
faba-284	265	21	seen	see	VERB
faba-284	265	22	from	from	ADP
faba-284	265	23	years	year	NOUN
faba-284	265	24	2013	2013	NUM
faba-284	265	25	,	,	PUNCT
faba-284	265	26	2017	2017	NUM
faba-284	265	27	and	and	CCONJ
faba-284	265	28	2021	2021	NUM
faba-284	265	29	.	.	PUNCT
faba-284	266	1	the	the	DET
faba-284	266	2	second	second	ADJ
faba-284	266	3	notorious	notorious	ADJ
faba-284	266	4	is	be	AUX
faba-284	266	5	that	that	SCONJ
faba-284	266	6	the	the	DET
faba-284	266	7	strategy	strategy	NOUN
faba-284	266	8	is	be	AUX
faba-284	266	9	also	also	ADV
faba-284	266	10	effective	effective	ADJ
faba-284	266	11	in	in	ADP
faba-284	266	12	limiting	limit	VERB
faba-284	266	13	the	the	DET
faba-284	266	14	negative	negative	ADJ
faba-284	266	15	results	result	NOUN
faba-284	266	16	,	,	PUNCT
faba-284	266	17	as	as	SCONJ
faba-284	266	18	observed	observe	VERB
faba-284	266	19	from	from	ADP
faba-284	266	20	the	the	DET
faba-284	266	21	results	result	NOUN
faba-284	266	22	for	for	ADP
faba-284	266	23	years	year	NOUN
faba-284	266	24	2014	2014	NUM
faba-284	266	25	,	,	PUNCT
faba-284	266	26	2018	2018	NUM
faba-284	266	27	and	and	CCONJ
faba-284	266	28	2022	2022	NUM
faba-284	266	29	.	.	PUNCT
faba-284	267	1	the	the	DET
faba-284	267	2	third	third	ADJ
faba-284	267	3	thing	thing	NOUN
faba-284	267	4	that	that	PRON
faba-284	267	5	can	can	AUX
faba-284	267	6	be	be	AUX
faba-284	267	7	appreciated	appreciate	VERB
faba-284	267	8	from	from	ADP
faba-284	267	9	the	the	DET
faba-284	267	10	returns	return	NOUN
faba-284	267	11	of	of	ADP
faba-284	267	12	the	the	DET
faba-284	267	13	benchmark	benchmark	NOUN
faba-284	267	14	,	,	PUNCT
faba-284	267	15	is	be	AUX
faba-284	267	16	a	a	DET
faba-284	267	17	cyclical	cyclical	ADJ
faba-284	267	18	pattern	pattern	NOUN
faba-284	267	19	recurring	recur	VERB
faba-284	267	20	every	every	DET
faba-284	267	21	four	four	NUM
faba-284	267	22	years	year	NOUN
faba-284	267	23	.	.	PUNCT
faba-284	268	1	this	this	DET
faba-284	268	2	pattern	pattern	NOUN
faba-284	268	3	begins	begin	VERB
faba-284	268	4	with	with	ADP
faba-284	268	5	the	the	DET
faba-284	268	6	halving	halve	VERB
faba-284	268	7	event	event	NOUN
faba-284	268	8	(	(	PUNCT
faba-284	268	9	years	year	NOUN
faba-284	268	10	2012	2012	NUM
faba-284	268	11	,	,	PUNCT
faba-284	268	12	2016	2016	NUM
faba-284	268	13	and	and	CCONJ
faba-284	268	14	2020	2020	NUM
faba-284	268	15	)	)	PUNCT
faba-284	268	16	,	,	PUNCT
faba-284	268	17	continues	continue	VERB
faba-284	268	18	with	with	ADP
faba-284	268	19	a	a	DET
faba-284	268	20	bull	bull	NOUN
faba-284	268	21	market	market	NOUN
faba-284	268	22	phase	phase	NOUN
faba-284	268	23	(	(	PUNCT
faba-284	268	24	years	year	NOUN
faba-284	268	25	2013	2013	NUM
faba-284	268	26	,	,	PUNCT
faba-284	268	27	2017	2017	NUM
faba-284	268	28	and	and	CCONJ
faba-284	268	29	2021	2021	NUM
faba-284	268	30	)	)	PUNCT
faba-284	268	31	and	and	CCONJ
faba-284	268	32	ensues	ensue	VERB
faba-284	268	33	with	with	ADP
faba-284	268	34	a	a	DET
faba-284	268	35	bear	bear	NOUN
faba-284	268	36	market	market	NOUN
faba-284	268	37	period	period	NOUN
faba-284	268	38	(	(	PUNCT
faba-284	268	39	years	year	NOUN
faba-284	268	40	2014	2014	NUM
faba-284	268	41	,	,	PUNCT
faba-284	268	42	2018	2018	NUM
faba-284	268	43	and	and	CCONJ
faba-284	268	44	2022	2022	NUM
faba-284	268	45	)	)	PUNCT
faba-284	268	46	.	.	PUNCT
faba-284	269	1	this	this	DET
faba-284	269	2	return	return	NOUN
faba-284	269	3	behavior	behavior	NOUN
faba-284	269	4	is	be	AUX
faba-284	269	5	consistent	consistent	ADJ
faba-284	269	6	with	with	ADP
faba-284	269	7	evidence	evidence	NOUN
faba-284	269	8	that	that	SCONJ
faba-284	269	9	momentum	momentum	NOUN
faba-284	269	10	factors	factor	NOUN
faba-284	269	11	are	be	AUX
faba-284	269	12	strong	strong	ADJ
faba-284	269	13	and	and	CCONJ
faba-284	269	14	persistent	persistent	ADJ
faba-284	269	15	drivers	driver	NOUN
faba-284	269	16	of	of	ADP
faba-284	269	17	cryptocurrency	cryptocurrency	NOUN
faba-284	269	18	performance	performance	NOUN
faba-284	269	19	,	,	PUNCT
faba-284	269	20	explaining	explain	VERB
faba-284	269	21	significant	significant	ADJ
faba-284	269	22	portions	portion	NOUN
faba-284	269	23	of	of	ADP
faba-284	269	24	return	return	NOUN
faba-284	269	25	variation	variation	NOUN
faba-284	269	26	beyond	beyond	ADP
faba-284	269	27	market	market	NOUN
faba-284	269	28	movements	movement	NOUN
faba-284	269	29	alone	alone	ADV
faba-284	269	30	(	(	PUNCT
faba-284	269	31	jia	jia	PROPN
faba-284	269	32	et	et	PROPN
faba-284	269	33	al	al	PROPN
faba-284	269	34	.	.	PROPN
faba-284	269	35	2022	2022	NUM
faba-284	269	36	)	)	PUNCT
faba-284	269	37	.	.	PUNCT
faba-284	270	1	table	table	NOUN
faba-284	270	2	2	2	NUM
faba-284	270	3	.	.	PUNCT
faba-284	270	4	cumulative	cumulative	ADJ
faba-284	270	5	returns	return	NOUN
faba-284	270	6	year	year	NOUN
faba-284	270	7	comp	comp	PROPN
faba-284	270	8	.	.	PUNCT
faba-284	271	1	ret	ret	PROPN
faba-284	271	2	bm	bm	PROPN
faba-284	271	3	comp	comp	PROPN
faba-284	271	4	.	.	PUNCT
faba-284	272	1	ret	ret	PROPN
faba-284	272	2	stg	stg	PROPN
faba-284	272	3	2012	2012	NUM
faba-284	272	4	142.86	142.86	NUM
faba-284	272	5	%	%	NOUN
faba-284	272	6	142.86	142.86	NUM
faba-284	272	7	%	%	NOUN
faba-284	272	8	2013	2013	NUM
faba-284	272	9	5753.34	5753.34	NUM
faba-284	272	10	%	%	NOUN
faba-284	272	11	8767.95	8767.95	NUM
faba-284	272	12	%	%	NOUN
faba-284	272	13	2014	2014	NUM
faba-284	272	14	-61.37	-61.37	PROPN
faba-284	272	15	%	%	NOUN
faba-284	273	1	-30.23	-30.23	ADP
faba-284	273	2	%	%	NOUN
faba-284	273	3	2015	2015	NUM
faba-284	273	4	34.39	34.39	NUM
faba-284	273	5	%	%	NOUN
faba-284	273	6	89.95	89.95	NUM
faba-284	273	7	%	%	NOUN
faba-284	273	8	2016	2016	NUM
faba-284	273	9	130.66	130.66	NUM
faba-284	273	10	%	%	NOUN
faba-284	273	11	130.66	130.66	NUM
faba-284	273	12	%	%	NOUN
faba-284	273	13	2017	2017	NUM
faba-284	273	14	1435.09	1435.09	NUM
faba-284	273	15	%	%	NOUN
faba-284	273	16	2012.52	2012.52	NUM
faba-284	273	17	%	%	NOUN
faba-284	273	18	2018	2018	NUM
faba-284	273	19	-72.84	-72.84	NUM
faba-284	273	20	%	%	NOUN
faba-284	273	21	-3.60	-3.60	NUM
faba-284	273	22	%	%	NOUN
faba-284	273	23	2019	2019	NUM
faba-284	273	24	88.80	88.80	NUM
faba-284	273	25	%	%	NOUN
faba-284	273	26	88.80	88.80	NUM
faba-284	273	27	%	%	NOUN
faba-284	273	28	2020	2020	NUM
faba-284	273	29	289.55	289.55	NUM
faba-284	273	30	%	%	NOUN
faba-284	273	31	289.55	289.55	NUM
faba-284	273	32	%	%	NOUN
faba-284	273	33	2021	2021	NUM
faba-284	273	34	59.90	59.90	NUM
faba-284	273	35	%	%	NOUN
faba-284	273	36	117.66	117.66	NUM
faba-284	273	37	%	%	NOUN
faba-284	273	38	2022	2022	NUM
faba-284	273	39	-63.88	-63.88	PROPN
faba-284	273	40	%	%	NOUN
faba-284	273	41	-23.33	-23.33	NOUN
faba-284	273	42	%	%	NOUN
faba-284	273	43	2023	2023	NUM
faba-284	273	44	154.52	154.52	NUM
faba-284	273	45	%	%	NOUN
faba-284	273	46	154.52	154.52	NUM
faba-284	273	47	%	%	NOUN
faba-284	273	48	2024	2024	NUM
faba-284	273	49	122.71	122.71	NUM
faba-284	273	50	%	%	NOUN
faba-284	273	51	122.71	122.71	NUM
faba-284	273	52	%	%	NOUN
faba-284	273	53	2025	2025	NUM
faba-284	273	54	11.93	11.93	NUM
faba-284	273	55	%	%	NOUN
faba-284	273	56	11.93	11.93	NUM
faba-284	273	57	%	%	NOUN
faba-284	273	58	source	source	NOUN
faba-284	273	59	:	:	PUNCT
faba-284	273	60	authors	author	NOUN
faba-284	273	61	’	’	PART
faba-284	273	62	data	datum	NOUN
faba-284	273	63	equity	equity	NOUN
faba-284	273	64	curve	curve	NOUN
faba-284	273	65	analysis	analysis	NOUN
faba-284	273	66	the	the	DET
faba-284	273	67	equity	equity	NOUN
faba-284	273	68	-	-	PUNCT
faba-284	273	69	curve	curve	NOUN
faba-284	273	70	analysis	analysis	NOUN
faba-284	273	71	evaluates	evaluate	VERB
faba-284	273	72	how	how	SCONJ
faba-284	273	73	a	a	DET
faba-284	273	74	hypothetical	hypothetical	ADJ
faba-284	273	75	trading	trading	NOUN
faba-284	273	76	account	account	NOUN
faba-284	273	77	would	would	AUX
faba-284	273	78	have	have	AUX
faba-284	273	79	evolved	evolve	VERB
faba-284	273	80	under	under	ADP
faba-284	273	81	the	the	DET
faba-284	273	82	active	active	ADJ
faba-284	273	83	strategy	strategy	NOUN
faba-284	273	84	compared	compare	VERB
faba-284	273	85	with	with	ADP
faba-284	273	86	a	a	DET
faba-284	273	87	passive	passive	ADJ
faba-284	273	88	btc	btc	ADJ
faba-284	273	89	benchmark	benchmark	NOUN
faba-284	273	90	.	.	PUNCT
faba-284	274	1	table	table	NOUN
faba-284	274	2	3	3	NUM
faba-284	274	3	reports	report	VERB
faba-284	274	4	the	the	DET
faba-284	274	5	end	end	NOUN
faba-284	274	6	-	-	PUNCT
faba-284	274	7	of	of	ADP
faba-284	274	8	-	-	PUNCT
faba-284	274	9	period	period	NOUN
faba-284	274	10	value	value	NOUN
faba-284	274	11	of	of	ADP
faba-284	274	12	a	a	DET
faba-284	274	13	usd	usd	NOUN
faba-284	274	14	1,000	1,000	NUM
faba-284	274	15	account	account	NOUN
faba-284	274	16	invested	invest	VERB
faba-284	274	17	in	in	ADP
faba-284	274	18	btc	btc	NOUN
faba-284	274	19	at	at	ADP
faba-284	274	20	the	the	DET
faba-284	274	21	start	start	NOUN
faba-284	274	22	of	of	ADP
faba-284	274	23	each	each	DET
faba-284	274	24	sample	sample	NOUN
faba-284	274	25	window	window	NOUN
faba-284	274	26	(	(	PUNCT
faba-284	274	27	triggered	trigger	VERB
faba-284	274	28	by	by	ADP
faba-284	274	29	a	a	DET
faba-284	274	30	“	"	PUNCT
faba-284	274	31	buy	buy	NOUN
faba-284	274	32	”	"	PUNCT
faba-284	274	33	signal	signal	NOUN
faba-284	274	34	)	)	PUNCT
faba-284	274	35	,	,	PUNCT
faba-284	274	36	the	the	DET
faba-284	274	37	corresponding	corresponding	ADJ
faba-284	274	38	benchmark	benchmark	NOUN
faba-284	274	39	end	end	NOUN
faba-284	274	40	capital	capital	NOUN
faba-284	274	41	(	(	PUNCT
faba-284	274	42	“	"	PUNCT
faba-284	274	43	bm	bm	PROPN
faba-284	274	44	end	end	PROPN
faba-284	274	45	capital	capital	PROPN
faba-284	274	46	”	"	PUNCT
faba-284	274	47	)	)	PUNCT
faba-284	274	48	,	,	PUNCT
faba-284	274	49	the	the	DET
faba-284	274	50	benchmark	benchmark	NOUN
faba-284	274	51	return	return	NOUN
faba-284	274	52	(	(	PUNCT
faba-284	274	53	“	"	PUNCT
faba-284	274	54	bm	bm	PROPN
faba-284	274	55	roi	roi	PROPN
faba-284	274	56	”	"	PUNCT
faba-284	274	57	)	)	PUNCT
faba-284	274	58	,	,	PUNCT
faba-284	274	59	and	and	CCONJ
faba-284	274	60	the	the	DET
faba-284	274	61	excess	excess	ADJ
faba-284	274	62	return	return	NOUN
faba-284	274	63	generated	generate	VERB
faba-284	274	64	by	by	ADP
faba-284	274	65	the	the	DET
faba-284	274	66	strategy	strategy	NOUN
faba-284	274	67	over	over	ADP
faba-284	274	68	the	the	DET
faba-284	274	69	benchmark	benchmark	NOUN
faba-284	274	70	.	.	PUNCT
faba-284	275	1	across	across	ADP
faba-284	275	2	all	all	DET
faba-284	275	3	selected	select	VERB
faba-284	275	4	periods	period	NOUN
faba-284	275	5	,	,	PUNCT
faba-284	275	6	the	the	DET
faba-284	275	7	strategy	strategy	NOUN
faba-284	275	8	delivers	deliver	VERB
faba-284	275	9	a	a	DET
faba-284	275	10	higher	high	ADJ
faba-284	275	11	terminal	terminal	ADJ
faba-284	275	12	account	account	NOUN
faba-284	275	13	value	value	NOUN
faba-284	275	14	than	than	ADP
faba-284	275	15	passive	passive	ADJ
faba-284	275	16	holding	holding	NOUN
faba-284	275	17	.	.	PUNCT
faba-284	276	1	these	these	DET
faba-284	276	2	findings	finding	NOUN
faba-284	276	3	are	be	AUX
faba-284	276	4	consistent	consistent	ADJ
faba-284	276	5	with	with	ADP
faba-284	276	6	prior	prior	ADJ
faba-284	276	7	evidence	evidence	NOUN
faba-284	276	8	that	that	SCONJ
faba-284	276	9	technical	technical	ADJ
faba-284	276	10	,	,	PUNCT
faba-284	276	11	trend	trend	NOUN
faba-284	276	12	-	-	PUNCT
faba-284	276	13	following	follow	VERB
faba-284	276	14	rules	rule	NOUN
faba-284	276	15	can	can	AUX
faba-284	276	16	be	be	AUX
faba-284	276	17	profitable	profitable	ADJ
faba-284	276	18	in	in	ADP
faba-284	276	19	cryptocurrency	cryptocurrency	NOUN
faba-284	276	20	markets	market	NOUN
faba-284	276	21	.	.	PUNCT
faba-284	277	1	empirical	empirical	ADJ
faba-284	277	2	studies	study	NOUN
faba-284	277	3	show	show	VERB
faba-284	277	4	that	that	SCONJ
faba-284	277	5	moving	move	VERB
faba-284	277	6	-	-	PUNCT
faba-284	277	7	average	average	NOUN
faba-284	277	8	-	-	PUNCT
faba-284	277	9	based	base	VERB
faba-284	277	10	and	and	CCONJ
faba-284	277	11	breakout	breakout	ADJ
faba-284	277	12	-	-	PUNCT
faba-284	277	13	style	style	NOUN
faba-284	277	14	trading	trading	NOUN
faba-284	277	15	systems	system	NOUN
faba-284	277	16	can	can	AUX
faba-284	277	17	generate	generate	VERB
faba-284	277	18	economically	economically	ADV
faba-284	277	19	meaningful	meaningful	ADJ
faba-284	277	20	abnormal	abnormal	ADJ
faba-284	277	21	returns	return	NOUN
faba-284	277	22	in	in	ADP
faba-284	277	23	bitcoin	bitcoin	NOUN
faba-284	277	24	,	,	PUNCT
faba-284	277	25	even	even	ADV
faba-284	277	26	after	after	ADP
faba-284	277	27	accounting	account	VERB
faba-284	277	28	for	for	ADP
faba-284	277	29	transaction	transaction	NOUN
faba-284	277	30	costs	cost	NOUN
faba-284	277	31	and	and	CCONJ
faba-284	277	32	employing	employ	VERB
faba-284	277	33	robust	robust	ADJ
faba-284	277	34	statistical	statistical	ADJ
faba-284	277	35	procedures	procedure	NOUN
faba-284	277	36	such	such	ADJ
faba-284	277	37	as	as	ADP
faba-284	277	38	bootstrap	bootstrap	NOUN
faba-284	277	39	inference	inference	NOUN
faba-284	277	40	(	(	PUNCT
faba-284	277	41	corbet	corbet	PROPN
faba-284	277	42	et	et	PROPN
faba-284	277	43	al	al	PROPN
faba-284	277	44	.	.	PROPN
faba-284	277	45	2019	2019	NUM
faba-284	277	46	;	;	PUNCT
faba-284	277	47	gerritsen	gerritsen	PROPN
faba-284	277	48	et	et	PROPN
faba-284	277	49	al	al	PROPN
faba-284	277	50	.	.	PROPN
faba-284	277	51	2020	2020	NUM
faba-284	277	52	)	)	PUNCT
faba-284	277	53	.	.	PUNCT
faba-284	278	1	the	the	DET
faba-284	278	2	equity	equity	NOUN
faba-284	278	3	-	-	PUNCT
faba-284	278	4	curve	curve	NOUN
faba-284	278	5	results	result	NOUN
faba-284	278	6	reported	report	VERB
faba-284	278	7	here	here	ADV
faba-284	278	8	align	align	VERB
faba-284	278	9	with	with	ADP
faba-284	278	10	this	this	DET
faba-284	278	11	literature	literature	NOUN
faba-284	278	12	by	by	ADP
faba-284	278	13	illustrating	illustrate	VERB
faba-284	278	14	that	that	SCONJ
faba-284	278	15	a	a	DET
faba-284	278	16	halving	halve	VERB
faba-284	278	17	-	-	PUNCT
faba-284	278	18	anchored	anchor	VERB
faba-284	278	19	,	,	PUNCT
faba-284	278	20	indicator	indicator	NOUN
faba-284	278	21	-	-	PUNCT
faba-284	278	22	driven	drive	VERB
faba-284	278	23	strategy	strategy	NOUN
faba-284	278	24	can	can	AUX
faba-284	278	25	systematically	systematically	ADV
faba-284	278	26	outperform	outperform	VERB
faba-284	278	27	a	a	DET
faba-284	278	28	simple	simple	ADJ
faba-284	278	29	buy	buy	VERB
faba-284	278	30	-	-	PUNCT
faba-284	278	31	and	and	CCONJ
faba-284	278	32	-	-	PUNCT
faba-284	278	33	hold	hold	VERB
faba-284	278	34	alejandro	alejandro	PROPN
faba-284	278	35	rabinovich	rabinovich	PROPN
faba-284	278	36	/	/	SYM
faba-284	278	37	finance	finance	NOUN
faba-284	278	38	,	,	PUNCT
faba-284	278	39	accounting	accounting	NOUN
faba-284	278	40	and	and	CCONJ
faba-284	278	41	business	business	NOUN
faba-284	278	42	analysis	analysis	NOUN
faba-284	278	43	,	,	PUNCT
faba-284	278	44	volume	volume	NOUN
faba-284	278	45	7	7	NUM
faba-284	278	46	,	,	PUNCT
faba-284	278	47	issue	issue	NOUN
faba-284	278	48	2	2	NUM
faba-284	278	49	,	,	PUNCT
faba-284	278	50	2025	2025	NUM
faba-284	278	51	263	263	NUM
faba-284	278	52	benchmark	benchmark	NOUN
faba-284	278	53	over	over	ADP
faba-284	278	54	multiple	multiple	ADJ
faba-284	278	55	overlapping	overlap	VERB
faba-284	278	56	windows	window	NOUN
faba-284	278	57	.	.	PUNCT
faba-284	279	1	table	table	NOUN
faba-284	279	2	3	3	NUM
faba-284	279	3	.	.	PUNCT
faba-284	279	4	equity	equity	NOUN
faba-284	279	5	curve	curve	PROPN
faba-284	279	6	comparison	comparison	NOUN
faba-284	279	7	period	period	NOUN
faba-284	279	8	bm	bm	PROPN
faba-284	279	9	end	end	PROPN
faba-284	279	10	capital	capital	NOUN
faba-284	279	11	(	(	PUNCT
faba-284	279	12	in	in	ADP
faba-284	279	13	usd	usd	NOUN
faba-284	279	14	)	)	PUNCT
faba-284	279	15	bm	bm	PROPN
faba-284	279	16	roi	roi	PROPN
faba-284	279	17	strategy	strategy	NOUN
faba-284	279	18	excess	excess	ADJ
faba-284	279	19	return	return	NOUN
faba-284	279	20	on	on	ADP
faba-284	279	21	bm	bm	PROPN
faba-284	279	22	11/6/2012	11/6/2012	NUM
faba-284	279	23	10/5/2025	10/5/2025	NUM
faba-284	279	24	19,125,730	19,125,730	NUM
faba-284	279	25	1912473	1912473	NUM
faba-284	279	26	%	%	NOUN
faba-284	279	27	5379	5379	NUM
faba-284	279	28	%	%	NOUN
faba-284	279	29	2/9/2013	2/9/2013	NUM
faba-284	279	30	10/5/2025	10/5/2025	NUM
faba-284	279	31	802,212	802,212	NUM
faba-284	279	32	80121	80121	NUM
faba-284	279	33	%	%	NOUN
faba-284	279	34	4948	4948	NUM
faba-284	279	35	%	%	NOUN
faba-284	279	36	6/6/2014	6/6/2014	NUM
faba-284	279	37	10/5/2025	10/5/2025	NUM
faba-284	279	38	159,284	159,284	NUM
faba-284	279	39	15828	15828	NUM
faba-284	279	40	%	%	NOUN
faba-284	279	41	3144	3144	NUM
faba-284	279	42	%	%	NOUN
faba-284	279	43	9/2/2015	9/2/2015	NUM
faba-284	279	44	10/5/2025	10/5/2025	NUM
faba-284	279	45	468,064	468,064	NUM
faba-284	279	46	46706	46706	NUM
faba-284	279	47	%	%	NOUN
faba-284	279	48	1362	1362	NUM
faba-284	279	49	%	%	NOUN
faba-284	279	50	31/12/2018	31/12/2018	NUM
faba-284	279	51	10/5/2025	10/5/2025	NUM
faba-284	279	52	27,358	27,358	NUM
faba-284	279	53	2636	2636	NUM
faba-284	279	54	%	%	NOUN
faba-284	279	55	192	192	NUM
faba-284	279	56	%	%	NOUN
faba-284	279	57	16/8/2021	16/8/2021	NUM
faba-284	279	58	10/5/2025	10/5/2025	NUM
faba-284	279	59	2,229	2,229	NUM
faba-284	279	60	123	123	NUM
faba-284	279	61	%	%	NOUN
faba-284	279	62	129	129	NUM
faba-284	279	63	%	%	NOUN
faba-284	279	64	4/4/2022	4/4/2022	NOUN
faba-284	279	65	10/5/2025	10/5/2025	NUM
faba-284	279	66	2,258	2,258	NUM
faba-284	279	67	126	126	NUM
faba-284	279	68	%	%	NOUN
faba-284	279	69	115	115	NUM
faba-284	279	70	%	%	NOUN
faba-284	279	71	source	source	NOUN
faba-284	279	72	:	:	PUNCT
faba-284	279	73	authors	author	NOUN
faba-284	279	74	’	’	PART
faba-284	279	75	data	datum	NOUN
faba-284	279	76	viewed	view	VERB
faba-284	279	77	together	together	ADV
faba-284	279	78	with	with	ADP
faba-284	279	79	the	the	DET
faba-284	279	80	regression	regression	NOUN
faba-284	279	81	analysis	analysis	NOUN
faba-284	279	82	,	,	PUNCT
faba-284	279	83	the	the	DET
faba-284	279	84	equity	equity	NOUN
faba-284	279	85	-	-	PUNCT
faba-284	279	86	curve	curve	NOUN
faba-284	279	87	evidence	evidence	NOUN
faba-284	279	88	indicates	indicate	VERB
faba-284	279	89	that	that	SCONJ
faba-284	279	90	the	the	DET
faba-284	279	91	strategy	strategy	NOUN
faba-284	279	92	’s	’s	PART
faba-284	279	93	returns	return	NOUN
faba-284	279	94	differ	differ	VERB
faba-284	279	95	from	from	ADP
faba-284	279	96	the	the	DET
faba-284	279	97	benchmark	benchmark	NOUN
faba-284	279	98	in	in	ADP
faba-284	279	99	a	a	DET
faba-284	279	100	statistically	statistically	ADV
faba-284	279	101	and	and	CCONJ
faba-284	279	102	economically	economically	ADV
faba-284	279	103	significant	significant	ADJ
faba-284	279	104	way	way	NOUN
faba-284	279	105	over	over	ADP
faba-284	279	106	most	most	ADJ
faba-284	279	107	of	of	ADP
faba-284	279	108	the	the	DET
faba-284	279	109	examined	examine	VERB
faba-284	279	110	periods	period	NOUN
faba-284	279	111	.	.	PUNCT
faba-284	280	1	the	the	DET
faba-284	280	2	estimated	estimate	VERB
faba-284	280	3	intercepts	intercept	NOUN
faba-284	280	4	(	(	PUNCT
faba-284	280	5	alphas	alpha	NOUN
faba-284	280	6	)	)	PUNCT
faba-284	280	7	are	be	AUX
faba-284	280	8	generally	generally	ADV
faba-284	280	9	positive	positive	ADJ
faba-284	280	10	and	and	CCONJ
faba-284	280	11	significant	significant	ADJ
faba-284	280	12	at	at	ADP
faba-284	280	13	conventional	conventional	ADJ
faba-284	280	14	levels	level	NOUN
faba-284	280	15	,	,	PUNCT
faba-284	280	16	while	while	SCONJ
faba-284	280	17	the	the	DET
faba-284	280	18	equity	equity	NOUN
faba-284	280	19	curves	curve	NOUN
faba-284	280	20	show	show	VERB
faba-284	280	21	that	that	SCONJ
faba-284	280	22	the	the	DET
faba-284	280	23	active	active	ADJ
faba-284	280	24	strategy	strategy	NOUN
faba-284	280	25	compounds	compound	VERB
faba-284	280	26	capital	capital	NOUN
faba-284	280	27	more	more	ADV
faba-284	280	28	effectively	effectively	ADV
faba-284	280	29	than	than	ADP
faba-284	280	30	the	the	DET
faba-284	280	31	passive	passive	ADJ
faba-284	280	32	benchmark	benchmark	NOUN
faba-284	280	33	.	.	PUNCT
faba-284	281	1	a	a	DET
faba-284	281	2	complementary	complementary	ADJ
faba-284	281	3	examination	examination	NOUN
faba-284	281	4	of	of	ADP
faba-284	281	5	yearly	yearly	ADJ
faba-284	281	6	cumulative	cumulative	ADJ
faba-284	281	7	returns	return	NOUN
faba-284	281	8	further	far	ADV
faba-284	281	9	suggests	suggest	VERB
faba-284	281	10	that	that	SCONJ
faba-284	281	11	the	the	DET
faba-284	281	12	strategy	strategy	NOUN
faba-284	281	13	tends	tend	VERB
faba-284	281	14	to	to	PART
faba-284	281	15	participate	participate	VERB
faba-284	281	16	strongly	strongly	ADV
faba-284	281	17	in	in	ADP
faba-284	281	18	major	major	ADJ
faba-284	281	19	btc	btc	ADJ
faba-284	281	20	bull	bull	NOUN
faba-284	281	21	runs	run	NOUN
faba-284	281	22	and	and	CCONJ
faba-284	281	23	to	to	PART
faba-284	281	24	limit	limit	VERB
faba-284	281	25	losses	loss	NOUN
faba-284	281	26	during	during	ADP
faba-284	281	27	bear	bear	NOUN
faba-284	281	28	phases	phase	NOUN
faba-284	281	29	,	,	PUNCT
faba-284	281	30	in	in	ADP
faba-284	281	31	line	line	NOUN
faba-284	281	32	with	with	ADP
faba-284	281	33	the	the	DET
faba-284	281	34	documented	document	VERB
faba-284	281	35	cyclical	cyclical	ADJ
faba-284	281	36	behavior	behavior	NOUN
faba-284	281	37	of	of	ADP
faba-284	281	38	cryptocurrency	cryptocurrency	NOUN
faba-284	281	39	markets	market	NOUN
faba-284	281	40	.	.	PUNCT
faba-284	282	1	at	at	ADP
faba-284	282	2	the	the	DET
faba-284	282	3	same	same	ADJ
faba-284	282	4	time	time	NOUN
faba-284	282	5	,	,	PUNCT
faba-284	282	6	it	it	PRON
faba-284	282	7	is	be	AUX
faba-284	282	8	important	important	ADJ
faba-284	282	9	to	to	PART
faba-284	282	10	adopt	adopt	VERB
faba-284	282	11	a	a	DET
faba-284	282	12	cautious	cautious	ADJ
faba-284	282	13	interpretation	interpretation	NOUN
faba-284	282	14	of	of	ADP
faba-284	282	15	these	these	DET
faba-284	282	16	results	result	NOUN
faba-284	282	17	.	.	PUNCT
faba-284	283	1	the	the	DET
faba-284	283	2	documented	document	VERB
faba-284	283	3	outperformance	outperformance	NOUN
faba-284	283	4	is	be	AUX
faba-284	283	5	conditional	conditional	ADJ
faba-284	283	6	on	on	ADP
faba-284	283	7	the	the	DET
faba-284	283	8	specific	specific	ADJ
faba-284	283	9	sample	sample	NOUN
faba-284	283	10	period	period	NOUN
faba-284	283	11	,	,	PUNCT
faba-284	283	12	the	the	DET
faba-284	283	13	chosen	choose	VERB
faba-284	283	14	data	datum	NOUN
faba-284	283	15	source	source	NOUN
faba-284	283	16	,	,	PUNCT
faba-284	283	17	and	and	CCONJ
faba-284	283	18	the	the	DET
faba-284	283	19	particular	particular	ADJ
faba-284	283	20	set	set	NOUN
faba-284	283	21	of	of	ADP
faba-284	283	22	modelling	model	VERB
faba-284	283	23	choices	choice	NOUN
faba-284	283	24	and	and	CCONJ
faba-284	283	25	trading	trading	NOUN
faba-284	283	26	rules	rule	NOUN
faba-284	283	27	implemented	implement	VERB
faba-284	283	28	in	in	ADP
faba-284	283	29	this	this	DET
faba-284	283	30	study	study	NOUN
faba-284	283	31	.	.	PUNCT
faba-284	284	1	future	future	ADJ
faba-284	284	2	market	market	NOUN
faba-284	284	3	regimes	regime	NOUN
faba-284	284	4	—	—	PUNCT
faba-284	284	5	characterized	characterize	VERB
faba-284	284	6	by	by	ADP
faba-284	284	7	different	different	ADJ
faba-284	284	8	volatility	volatility	NOUN
faba-284	284	9	,	,	PUNCT
faba-284	284	10	liquidity	liquidity	NOUN
faba-284	284	11	,	,	PUNCT
faba-284	284	12	regulatory	regulatory	ADJ
faba-284	284	13	environments	environment	NOUN
faba-284	284	14	,	,	PUNCT
faba-284	284	15	or	or	CCONJ
faba-284	284	16	macroeconomic	macroeconomic	ADJ
faba-284	284	17	conditions	condition	NOUN
faba-284	284	18	—	—	PUNCT
faba-284	284	19	may	may	AUX
faba-284	284	20	not	not	PART
faba-284	284	21	replicate	replicate	VERB
faba-284	284	22	the	the	DET
faba-284	284	23	historical	historical	ADJ
faba-284	284	24	patterns	pattern	NOUN
faba-284	284	25	observed	observe	VERB
faba-284	284	26	here	here	ADV
faba-284	284	27	,	,	PUNCT
faba-284	284	28	and	and	CCONJ
faba-284	284	29	strategy	strategy	NOUN
faba-284	284	30	performance	performance	NOUN
faba-284	284	31	could	could	AUX
faba-284	284	32	deteriorate	deteriorate	VERB
faba-284	284	33	accordingly	accordingly	ADV
faba-284	284	34	.	.	PUNCT
faba-284	285	1	consequently	consequently	ADV
faba-284	285	2	,	,	PUNCT
faba-284	285	3	the	the	DET
faba-284	285	4	findings	finding	NOUN
faba-284	285	5	are	be	AUX
faba-284	285	6	best	well	ADV
faba-284	285	7	viewed	view	VERB
faba-284	285	8	as	as	ADP
faba-284	285	9	an	an	DET
faba-284	285	10	empirical	empirical	ADJ
faba-284	285	11	case	case	NOUN
faba-284	285	12	study	study	NOUN
faba-284	285	13	of	of	ADP
faba-284	285	14	one	one	NUM
faba-284	285	15	halving	halve	VERB
faba-284	285	16	-	-	PUNCT
faba-284	285	17	centric	centric	ADJ
faba-284	285	18	implementation	implementation	NOUN
faba-284	285	19	within	within	ADP
faba-284	285	20	the	the	DET
faba-284	285	21	broader	broad	ADJ
faba-284	285	22	family	family	NOUN
faba-284	285	23	of	of	ADP
faba-284	285	24	technical	technical	ADJ
faba-284	285	25	trading	trading	NOUN
faba-284	285	26	strategies	strategy	NOUN
faba-284	285	27	,	,	PUNCT
faba-284	285	28	rather	rather	ADV
faba-284	285	29	than	than	ADP
faba-284	285	30	as	as	ADP
faba-284	285	31	evidence	evidence	NOUN
faba-284	285	32	of	of	ADP
faba-284	285	33	persistent	persistent	ADJ
faba-284	285	34	arbitrage	arbitrage	NOUN
faba-284	285	35	opportunities	opportunity	NOUN
faba-284	285	36	or	or	CCONJ
faba-284	285	37	as	as	ADP
faba-284	285	38	direct	direct	ADJ
faba-284	285	39	investment	investment	NOUN
faba-284	285	40	advice	advice	NOUN
faba-284	285	41	.	.	PUNCT
faba-284	286	1	macroeconomic	macroeconomic	ADJ
faba-284	286	2	correlations	correlation	NOUN
faba-284	286	3	as	as	SCONJ
faba-284	286	4	demonstrated	demonstrate	VERB
faba-284	286	5	by	by	ADP
faba-284	286	6	the	the	DET
faba-284	286	7	statistical	statistical	ADJ
faba-284	286	8	analysis	analysis	NOUN
faba-284	286	9	,	,	PUNCT
faba-284	286	10	applying	apply	VERB
faba-284	286	11	the	the	DET
faba-284	286	12	active	active	ADJ
faba-284	286	13	strategy	strategy	NOUN
faba-284	286	14	during	during	ADP
faba-284	286	15	the	the	DET
faba-284	286	16	selected	select	VERB
faba-284	286	17	period	period	NOUN
faba-284	286	18	would	would	AUX
faba-284	286	19	have	have	AUX
faba-284	286	20	outperformed	outperform	VERB
faba-284	286	21	btc	btc	PROPN
faba-284	286	22	with	with	ADP
faba-284	286	23	statistical	statistical	ADJ
faba-284	286	24	significance	significance	NOUN
faba-284	286	25	.	.	PUNCT
faba-284	287	1	although	although	SCONJ
faba-284	287	2	not	not	PART
faba-284	287	3	related	relate	VERB
faba-284	287	4	to	to	ADP
faba-284	287	5	the	the	DET
faba-284	287	6	strategy	strategy	NOUN
faba-284	287	7	,	,	PUNCT
faba-284	287	8	there	there	PRON
faba-284	287	9	is	be	VERB
faba-284	287	10	one	one	NUM
faba-284	287	11	question	question	NOUN
faba-284	287	12	that	that	PRON
faba-284	287	13	deserves	deserve	VERB
faba-284	287	14	some	some	DET
faba-284	287	15	consideration	consideration	NOUN
faba-284	287	16	.	.	PUNCT
faba-284	288	1	why	why	SCONJ
faba-284	288	2	has	have	AUX
faba-284	288	3	btc	btc	VERB
faba-284	288	4	experienced	experience	VERB
faba-284	288	5	such	such	ADJ
faba-284	288	6	incredible	incredible	ADJ
faba-284	288	7	returns	return	NOUN
faba-284	288	8	?	?	PUNCT
faba-284	289	1	while	while	SCONJ
faba-284	289	2	not	not	PART
faba-284	289	3	exclusive	exclusive	ADJ
faba-284	289	4	,	,	PUNCT
faba-284	289	5	some	some	PRON
faba-284	289	6	of	of	ADP
faba-284	289	7	the	the	DET
faba-284	289	8	arguments	argument	NOUN
faba-284	289	9	as	as	ADP
faba-284	289	10	to	to	ADP
faba-284	289	11	why	why	SCONJ
faba-284	289	12	btc	btc	NOUN
faba-284	289	13	could	could	AUX
faba-284	289	14	have	have	AUX
faba-284	289	15	experienced	experience	VERB
faba-284	289	16	such	such	ADJ
faba-284	289	17	phenomenal	phenomenal	ADJ
faba-284	289	18	periods	period	NOUN
faba-284	289	19	of	of	ADP
faba-284	289	20	growth	growth	NOUN
faba-284	289	21	,	,	PUNCT
faba-284	289	22	are	be	AUX
faba-284	289	23	the	the	DET
faba-284	289	24	following	follow	VERB
faba-284	289	25	ones	one	NOUN
faba-284	289	26	.	.	PUNCT
faba-284	290	1	market	market	NOUN
faba-284	290	2	capitalization	capitalization	NOUN
faba-284	290	3	(	(	PUNCT
faba-284	290	4	mkt	mkt	PROPN
faba-284	290	5	cap	cap	PROPN
faba-284	290	6	)	)	PUNCT
faba-284	290	7	in	in	ADP
faba-284	290	8	july	july	PROPN
faba-284	290	9	2010	2010	NUM
faba-284	290	10	btc	btc	PROPN
faba-284	290	11	had	have	VERB
faba-284	290	12	a	a	DET
faba-284	290	13	mkt	mkt	PROPN
faba-284	290	14	cap	cap	NOUN
faba-284	290	15	of	of	ADP
faba-284	290	16	slightly	slightly	ADV
faba-284	290	17	under	under	ADP
faba-284	290	18	250,000	250,000	NUM
faba-284	290	19	usd	usd	NOUN
faba-284	290	20	,	,	PUNCT
faba-284	290	21	by	by	ADP
faba-284	290	22	july	july	PROPN
faba-284	290	23	2013	2013	NUM
faba-284	290	24	it	it	PRON
faba-284	290	25	grew	grow	VERB
faba-284	290	26	to	to	ADP
faba-284	290	27	1.5	1.5	NUM
faba-284	290	28	b	b	NOUN
faba-284	290	29	and	and	CCONJ
faba-284	290	30	by	by	ADP
faba-284	290	31	the	the	DET
faba-284	290	32	time	time	NOUN
faba-284	290	33	of	of	ADP
faba-284	290	34	its	its	PRON
faba-284	290	35	first	first	ADJ
faba-284	290	36	massive	massive	ADJ
faba-284	290	37	bull	bull	NOUN
faba-284	290	38	run	run	NOUN
faba-284	290	39	mkt	mkt	PROPN
faba-284	290	40	cap	cap	NOUN
faba-284	290	41	ascend	ascend	VERB
faba-284	290	42	to	to	ADP
faba-284	290	43	13.6	13.6	NUM
faba-284	290	44	b.	b.	PROPN
faba-284	290	45	four	four	NUM
faba-284	290	46	years	year	NOUN
faba-284	290	47	later	later	ADV
faba-284	290	48	,	,	PUNCT
faba-284	290	49	by	by	ADP
faba-284	290	50	the	the	DET
faba-284	290	51	time	time	NOUN
faba-284	290	52	of	of	ADP
faba-284	290	53	the	the	DET
faba-284	290	54	second	second	ADJ
faba-284	290	55	massive	massive	ADJ
faba-284	290	56	bull	bull	NOUN
faba-284	290	57	run	run	NOUN
faba-284	290	58	on	on	ADP
faba-284	290	59	dec	dec	PROPN
faba-284	290	60	2017	2017	NUM
faba-284	290	61	mkt	mkt	PROPN
faba-284	290	62	cap	cap	NOUN
faba-284	290	63	ascended	ascend	VERB
faba-284	290	64	to	to	ADP
faba-284	290	65	320	320	NUM
faba-284	290	66	b	b	NOUN
faba-284	290	67	,	,	PUNCT
faba-284	290	68	only	only	ADV
faba-284	290	69	to	to	PART
faba-284	290	70	drop	drop	VERB
faba-284	290	71	to	to	ADP
faba-284	290	72	56.4	56.4	NUM
faba-284	290	73	b	b	NOUN
faba-284	290	74	one	one	NUM
faba-284	290	75	year	year	NOUN
faba-284	290	76	later	later	ADV
faba-284	290	77	during	during	ADP
faba-284	290	78	the	the	DET
faba-284	290	79	bear	bear	PROPN
faba-284	290	80	mkt	mkt	PROPN
faba-284	290	81	cycle	cycle	NOUN
faba-284	290	82	.	.	PUNCT
faba-284	291	1	at	at	ADP
faba-284	291	2	the	the	DET
faba-284	291	3	height	height	NOUN
faba-284	291	4	of	of	ADP
faba-284	291	5	its	its	PRON
faba-284	291	6	latest	late	ADJ
faba-284	291	7	bull	bull	NOUN
faba-284	291	8	run	run	NOUN
faba-284	291	9	on	on	ADP
faba-284	291	10	nov	nov	PROPN
faba-284	291	11	2021	2021	NUM
faba-284	291	12	,	,	PUNCT
faba-284	291	13	mkt	mkt	PROPN
faba-284	291	14	cap	cap	NOUN
faba-284	291	15	reached	reach	VERB
faba-284	291	16	1.3	1.3	NUM
faba-284	291	17	t	t	NOUN
faba-284	291	18	usd	usd	NOUN
faba-284	291	19	for	for	ADP
faba-284	291	20	btc	btc	NOUN
faba-284	291	21	,	,	PUNCT
faba-284	291	22	whereas	whereas	SCONJ
faba-284	291	23	for	for	ADP
faba-284	291	24	the	the	DET
faba-284	291	25	remaining	remain	VERB
faba-284	291	26	crypto	crypto	NOUN
faba-284	291	27	space	space	NOUN
faba-284	291	28	it	it	PRON
faba-284	291	29	amounted	amount	VERB
faba-284	291	30	to	to	ADP
faba-284	291	31	1.7	1.7	NUM
faba-284	291	32	t.	t.	NOUN
faba-284	291	33	current	current	ADJ
faba-284	291	34	btc	btc	PROPN
faba-284	291	35	mkt	mkt	PROPN
faba-284	291	36	cap	cap	NOUN
faba-284	291	37	,	,	PUNCT
faba-284	291	38	as	as	ADP
faba-284	291	39	per	per	ADP
faba-284	291	40	the	the	DET
faba-284	291	41	time	time	NOUN
faba-284	291	42	of	of	ADP
faba-284	291	43	writing	writing	NOUN
faba-284	291	44	,	,	PUNCT
faba-284	291	45	is	be	AUX
faba-284	291	46	around	around	ADP
faba-284	291	47	2.08	2.08	NUM
faba-284	291	48	t	t	NOUN
faba-284	291	49	and	and	CCONJ
faba-284	291	50	remaining	remain	VERB
faba-284	291	51	crypto	crypto	NOUN
faba-284	291	52	assets	asset	NOUN
faba-284	291	53	mkt	mkt	PROPN
faba-284	291	54	cap	cap	PROPN
faba-284	291	55	amounts	amount	VERB
faba-284	291	56	to	to	ADP
faba-284	291	57	1.15	1.15	NUM
faba-284	291	58	t	t	NOUN
faba-284	291	59	,	,	PUNCT
faba-284	291	60	3.24	3.24	NUM
faba-284	291	61	t	t	NOUN
faba-284	291	62	combined	combine	VERB
faba-284	291	63	.	.	PUNCT
faba-284	292	1	whereas	whereas	SCONJ
faba-284	292	2	just	just	ADV
faba-284	292	3	to	to	PART
faba-284	292	4	give	give	VERB
faba-284	292	5	a	a	DET
faba-284	292	6	means	means	NOUN
faba-284	292	7	of	of	ADP
faba-284	292	8	comparison	comparison	NOUN
faba-284	292	9	,	,	PUNCT
faba-284	292	10	the	the	DET
faba-284	292	11	mkt	mkt	PROPN
faba-284	292	12	cap	cap	NOUN
faba-284	292	13	of	of	ADP
faba-284	292	14	microsoft	microsoft	PROPN
faba-284	292	15	,	,	PUNCT
faba-284	292	16	currently	currently	ADV
faba-284	292	17	the	the	DET
faba-284	292	18	highest	high	ADJ
faba-284	292	19	company	company	NOUN
faba-284	292	20	by	by	ADP
faba-284	292	21	mkt	mkt	PROPN
faba-284	292	22	cap	cap	PROPN
faba-284	292	23	,	,	PUNCT
faba-284	292	24	is	be	AUX
faba-284	292	25	of	of	ADP
faba-284	292	26	3.42	3.42	NUM
faba-284	292	27	t.	t.	NOUN
faba-284	292	28	silver	silver	NOUN
faba-284	292	29	stands	stand	VERB
faba-284	292	30	at	at	ADP
faba-284	292	31	1.86	1.86	NUM
faba-284	292	32	t	t	NOUN
faba-284	292	33	and	and	CCONJ
faba-284	292	34	gold	gold	NOUN
faba-284	292	35	at	at	ADP
faba-284	292	36	22.24	22.24	NUM
faba-284	292	37	t	t	NOUN
faba-284	292	38	(	(	PUNCT
faba-284	292	39	companiesmarketcap	companiesmarketcap	NOUN
faba-284	292	40	n.d	n.d	PROPN
faba-284	292	41	.	.	PROPN
faba-284	292	42	)	)	PUNCT
faba-284	292	43	.	.	PUNCT
faba-284	293	1	table	table	NOUN
faba-284	293	2	4	4	NUM
faba-284	293	3	.	.	PUNCT
faba-284	293	4	market	market	NOUN
faba-284	293	5	capitalization	capitalization	NOUN
faba-284	293	6	by	by	ADP
faba-284	293	7	market	market	NOUN
faba-284	293	8	markets	market	NOUN
faba-284	293	9	by	by	ADP
faba-284	293	10	mkt	mkt	PROPN
faba-284	293	11	cap	cap	PROPN
faba-284	293	12	(	(	PUNCT
faba-284	293	13	in	in	ADP
faba-284	293	14	trillion	trillion	NUM
faba-284	293	15	usd	usd	NOUN
faba-284	293	16	)	)	PUNCT
faba-284	293	17	as	as	ADP
faba-284	293	18	of	of	ADP
faba-284	293	19	may	may	PROPN
faba-284	293	20	2025	2025	NUM
faba-284	293	21	global	global	ADJ
faba-284	293	22	bond	bond	NOUN
faba-284	293	23	(	(	PUNCT
faba-284	293	24	as	as	ADP
faba-284	293	25	of	of	ADP
faba-284	293	26	2023	2023	NUM
faba-284	293	27	eoy	eoy	NOUN
faba-284	293	28	)	)	PUNCT
faba-284	293	29	140	140	NUM
faba-284	293	30	global	global	ADJ
faba-284	293	31	equity	equity	NOUN
faba-284	293	32	(	(	PUNCT
faba-284	293	33	as	as	ADP
faba-284	293	34	of	of	ADP
faba-284	293	35	2023	2023	NUM
faba-284	293	36	eoy	eoy	NOUN
faba-284	293	37	)	)	PUNCT
faba-284	293	38	115	115	NUM
faba-284	293	39	s&p	s&p	PROPN
faba-284	293	40	500	500	NUM
faba-284	293	41	(	(	PUNCT
faba-284	293	42	as	as	ADP
faba-284	293	43	of	of	ADP
faba-284	293	44	may	may	PROPN
faba-284	293	45	2025	2025	NUM
faba-284	293	46	)	)	PUNCT
faba-284	293	47	49.8	49.8	NUM
faba-284	293	48	gold	gold	NOUN
faba-284	293	49	22.24	22.24	NUM
faba-284	293	50	microsoft	microsoft	PROPN
faba-284	293	51	3.43	3.43	NUM
faba-284	293	52	global	global	ADJ
faba-284	293	53	crypto	crypto	NOUN
faba-284	293	54	3.23	3.23	NUM
faba-284	293	55	silver	silver	NOUN
faba-284	293	56	1.86	1.86	NUM
faba-284	293	57	btc	btc	NOUN
faba-284	293	58	2.08	2.08	NUM
faba-284	293	59	source	source	NOUN
faba-284	293	60	:	:	PUNCT
faba-284	293	61	authors	author	NOUN
faba-284	293	62	’	'	PUNCT
faba-284	293	63	data	data	VERB
faba-284	293	64	the	the	DET
faba-284	293	65	market	market	NOUN
faba-284	293	66	cap	cap	NOUN
faba-284	293	67	of	of	ADP
faba-284	293	68	the	the	DET
faba-284	293	69	s&p	s&p	PROPN
faba-284	293	70	500	500	NUM
faba-284	293	71	currently	currently	ADV
faba-284	293	72	stands	stand	VERB
faba-284	293	73	at	at	ADP
faba-284	293	74	about	about	ADP
faba-284	293	75	49.8	49.8	NUM
faba-284	293	76	t	t	NOUN
faba-284	293	77	,	,	PUNCT
faba-284	293	78	the	the	DET
faba-284	293	79	global	global	ADJ
faba-284	293	80	equity	equity	NOUN
faba-284	293	81	market	market	NOUN
faba-284	293	82	is	be	AUX
faba-284	293	83	roughly	roughly	ADV
faba-284	293	84	alejandro	alejandro	PROPN
faba-284	293	85	rabinovich	rabinovich	PROPN
faba-284	293	86	/	/	SYM
faba-284	293	87	finance	finance	NOUN
faba-284	293	88	,	,	PUNCT
faba-284	293	89	accounting	accounting	NOUN
faba-284	293	90	and	and	CCONJ
faba-284	293	91	business	business	NOUN
faba-284	293	92	analysis	analysis	NOUN
faba-284	293	93	,	,	PUNCT
faba-284	293	94	volume	volume	NOUN
faba-284	293	95	7	7	NUM
faba-284	293	96	,	,	PUNCT
faba-284	293	97	issue	issue	NOUN
faba-284	293	98	2	2	NUM
faba-284	293	99	,	,	PUNCT
faba-284	293	100	2025	2025	NUM
faba-284	293	101	264	264	NUM
faba-284	293	102	115	115	NUM
faba-284	293	103	t	t	NOUN
faba-284	293	104	(	(	PUNCT
faba-284	293	105	kolchin	kolchin	PROPN
faba-284	293	106	et	et	PROPN
faba-284	293	107	al	al	PROPN
faba-284	293	108	.	.	PROPN
faba-284	293	109	2024	2024	NUM
faba-284	293	110	)	)	PUNCT
faba-284	293	111	and	and	CCONJ
faba-284	293	112	global	global	ADJ
faba-284	293	113	bond	bond	NOUN
faba-284	293	114	markets	market	NOUN
faba-284	293	115	,	,	PUNCT
faba-284	293	116	as	as	ADP
faba-284	293	117	of	of	ADP
faba-284	293	118	2023	2023	NUM
faba-284	293	119	,	,	PUNCT
faba-284	293	120	was	be	AUX
faba-284	293	121	140	140	NUM
faba-284	293	122	t	t	NOUN
faba-284	293	123	(	(	PUNCT
faba-284	293	124	neufeld	neufeld	PROPN
faba-284	293	125	2023	2023	NUM
faba-284	293	126	)	)	PUNCT
faba-284	293	127	.	.	PUNCT
faba-284	294	1	it	it	PRON
faba-284	294	2	is	be	AUX
faba-284	294	3	important	important	ADJ
faba-284	294	4	to	to	PART
faba-284	294	5	remember	remember	VERB
faba-284	294	6	that	that	SCONJ
faba-284	294	7	btc	btc	PROPN
faba-284	294	8	is	be	AUX
faba-284	294	9	,	,	PUNCT
faba-284	294	10	after	after	ADV
faba-284	294	11	all	all	ADV
faba-284	294	12	,	,	PUNCT
faba-284	294	13	a	a	DET
faba-284	294	14	new	new	ADJ
faba-284	294	15	asset	asset	NOUN
faba-284	294	16	that	that	PRON
faba-284	294	17	has	have	AUX
faba-284	294	18	been	be	AUX
faba-284	294	19	in	in	ADP
faba-284	294	20	existence	existence	NOUN
faba-284	294	21	for	for	ADP
faba-284	294	22	only	only	ADV
faba-284	294	23	16	16	NUM
faba-284	294	24	years	year	NOUN
faba-284	294	25	,	,	PUNCT
faba-284	294	26	compared	compare	VERB
faba-284	294	27	to	to	ADP
faba-284	294	28	more	more	ADV
faba-284	294	29	mature	mature	ADJ
faba-284	294	30	markets	market	NOUN
faba-284	294	31	mentioned	mention	VERB
faba-284	294	32	previously	previously	ADV
faba-284	294	33	.	.	PUNCT
faba-284	295	1	given	give	VERB
faba-284	295	2	that	that	SCONJ
faba-284	295	3	btc	btc	NOUN
faba-284	295	4	is	be	AUX
faba-284	295	5	an	an	DET
faba-284	295	6	asset	asset	NOUN
faba-284	295	7	that	that	PRON
faba-284	295	8	is	be	AUX
faba-284	295	9	traded	trade	VERB
faba-284	295	10	24/7	24/7	PROPN
faba-284	295	11	and	and	CCONJ
faba-284	295	12	with	with	ADP
faba-284	295	13	global	global	ADJ
faba-284	295	14	exposure	exposure	NOUN
faba-284	295	15	it	it	PRON
faba-284	295	16	is	be	AUX
faba-284	295	17	essential	essential	ADJ
faba-284	295	18	to	to	PART
faba-284	295	19	try	try	VERB
faba-284	295	20	to	to	PART
faba-284	295	21	understand	understand	VERB
faba-284	295	22	how	how	SCONJ
faba-284	295	23	global	global	ADJ
faba-284	295	24	liquidity	liquidity	NOUN
faba-284	295	25	could	could	AUX
faba-284	295	26	affect	affect	VERB
faba-284	295	27	the	the	DET
faba-284	295	28	btc	btc	ADJ
faba-284	295	29	price	price	NOUN
faba-284	295	30	dynamics	dynamic	NOUN
faba-284	295	31	.	.	PUNCT
faba-284	296	1	particularly	particularly	ADV
faba-284	296	2	during	during	ADP
faba-284	296	3	earlier	early	ADJ
faba-284	296	4	phases	phase	NOUN
faba-284	296	5	when	when	SCONJ
faba-284	296	6	mkt	mkt	PROPN
faba-284	296	7	cap	cap	NOUN
faba-284	296	8	was	be	AUX
faba-284	296	9	relatively	relatively	ADV
faba-284	296	10	small	small	ADJ
faba-284	296	11	,	,	PUNCT
faba-284	296	12	and	and	CCONJ
faba-284	296	13	could	could	AUX
faba-284	296	14	be	be	AUX
faba-284	296	15	easily	easily	ADV
faba-284	296	16	pumped	pump	VERB
faba-284	296	17	by	by	ADP
faba-284	296	18	the	the	DET
faba-284	296	19	inflow	inflow	NOUN
faba-284	296	20	of	of	ADP
faba-284	296	21	institutional	institutional	ADJ
faba-284	296	22	investors	investor	NOUN
faba-284	296	23	or	or	CCONJ
faba-284	296	24	private	private	ADJ
faba-284	296	25	companies	company	NOUN
faba-284	296	26	that	that	PRON
faba-284	296	27	decided	decide	VERB
faba-284	296	28	to	to	PART
faba-284	296	29	buy	buy	VERB
faba-284	296	30	and	and	CCONJ
faba-284	296	31	hold	hold	VERB
faba-284	296	32	btc	btc	NOUN
faba-284	296	33	as	as	ADP
faba-284	296	34	part	part	NOUN
faba-284	296	35	of	of	ADP
faba-284	296	36	the	the	DET
faba-284	296	37	assets	asset	NOUN
faba-284	296	38	within	within	ADP
faba-284	296	39	their	their	PRON
faba-284	296	40	balance	balance	NOUN
faba-284	296	41	sheet	sheet	NOUN
faba-284	296	42	(	(	PUNCT
faba-284	296	43	benzinga	benzinga	NOUN
faba-284	296	44	2023	2023	NUM
faba-284	296	45	)	)	PUNCT
faba-284	296	46	.	.	PUNCT
faba-284	297	1	this	this	DET
faba-284	297	2	scenario	scenario	NOUN
faba-284	297	3	occurred	occur	VERB
faba-284	297	4	during	during	ADP
faba-284	297	5	the	the	DET
faba-284	297	6	last	last	ADJ
faba-284	297	7	cycle	cycle	NOUN
faba-284	297	8	that	that	PRON
faba-284	297	9	saw	see	VERB
faba-284	297	10	btc	btc	ADJ
faba-284	297	11	price	price	NOUN
faba-284	297	12	propelled	propel	VERB
faba-284	297	13	to	to	ADP
faba-284	297	14	67,000	67,000	NUM
faba-284	297	15	usd	usd	NOUN
faba-284	297	16	per	per	ADP
faba-284	297	17	btc	btc	NOUN
faba-284	297	18	.	.	PUNCT
faba-284	298	1	microstrategy	microstrategy	NOUN
faba-284	298	2	(	(	PUNCT
faba-284	298	3	mstr	mstr	NOUN
faba-284	298	4	)	)	PUNCT
faba-284	298	5	is	be	AUX
faba-284	298	6	the	the	DET
faba-284	298	7	top	top	ADJ
faba-284	298	8	reference	reference	NOUN
faba-284	298	9	,	,	PUNCT
faba-284	298	10	currently	currently	ADV
faba-284	298	11	holding	hold	VERB
faba-284	298	12	over	over	ADP
faba-284	298	13	580,250	580,250	NUM
faba-284	298	14	btc	btc	NOUN
faba-284	298	15	.	.	PUNCT
faba-284	299	1	also	also	ADV
faba-284	299	2	equally	equally	ADV
faba-284	299	3	important	important	ADJ
faba-284	299	4	,	,	PUNCT
faba-284	299	5	is	be	AUX
faba-284	299	6	the	the	DET
faba-284	299	7	fact	fact	NOUN
faba-284	299	8	that	that	SCONJ
faba-284	299	9	some	some	DET
faba-284	299	10	governments	government	NOUN
faba-284	299	11	hold	hold	VERB
faba-284	299	12	btc	btc	NOUN
faba-284	299	13	in	in	ADP
faba-284	299	14	their	their	PRON
faba-284	299	15	balance	balance	NOUN
faba-284	299	16	sheet	sheet	NOUN
faba-284	299	17	and	and	CCONJ
faba-284	299	18	some	some	DET
faba-284	299	19	countries	country	NOUN
faba-284	299	20	,	,	PUNCT
faba-284	299	21	such	such	ADJ
faba-284	299	22	as	as	ADP
faba-284	299	23	el	el	PROPN
faba-284	299	24	salvador	salvador	PROPN
faba-284	299	25	and	and	CCONJ
faba-284	299	26	central	central	ADJ
faba-284	299	27	african	african	ADJ
faba-284	299	28	republic	republic	NOUN
faba-284	299	29	,	,	PUNCT
faba-284	299	30	have	have	AUX
faba-284	299	31	adopted	adopt	VERB
faba-284	299	32	btc	btc	NOUN
faba-284	299	33	as	as	ADP
faba-284	299	34	legal	legal	ADJ
faba-284	299	35	tender	tender	NOUN
faba-284	299	36	currency	currency	NOUN
faba-284	299	37	.	.	PUNCT
faba-284	300	1	recently	recently	ADV
faba-284	300	2	the	the	DET
faba-284	300	3	us	us	PROPN
faba-284	300	4	established	establish	VERB
faba-284	300	5	a	a	DET
faba-284	300	6	strategic	strategic	ADJ
faba-284	300	7	reserve	reserve	NOUN
faba-284	300	8	of	of	ADP
faba-284	300	9	crypto	crypto	NOUN
faba-284	300	10	assets	asset	NOUN
faba-284	300	11	,	,	PUNCT
faba-284	300	12	becoming	become	VERB
faba-284	300	13	the	the	DET
faba-284	300	14	government	government	NOUN
faba-284	300	15	with	with	ADP
faba-284	300	16	the	the	DET
faba-284	300	17	largest	large	ADJ
faba-284	300	18	quantity	quantity	NOUN
faba-284	300	19	of	of	ADP
faba-284	300	20	btc	btc	ADJ
faba-284	300	21	holdings	holding	NOUN
faba-284	300	22	(	(	PUNCT
faba-284	300	23	207,189	207,189	NUM
faba-284	300	24	)	)	PUNCT
faba-284	300	25	,	,	PUNCT
faba-284	300	26	china	china	PROPN
faba-284	300	27	follows	follow	VERB
faba-284	300	28	suit	suit	NOUN
faba-284	300	29	with	with	ADP
faba-284	300	30	approximate	approximate	ADJ
faba-284	300	31	holdings	holding	NOUN
faba-284	300	32	of	of	ADP
faba-284	300	33	194,000	194,000	NUM
faba-284	300	34	btc	btc	NOUN
faba-284	300	35	and	and	CCONJ
faba-284	300	36	other	other	ADJ
faba-284	300	37	governments	government	NOUN
faba-284	300	38	are	be	AUX
faba-284	300	39	showing	show	VERB
faba-284	300	40	interest	interest	NOUN
faba-284	300	41	in	in	ADP
faba-284	300	42	doing	do	VERB
faba-284	300	43	the	the	DET
faba-284	300	44	same	same	ADJ
faba-284	300	45	.	.	PUNCT
faba-284	301	1	all	all	PRON
faba-284	301	2	of	of	ADP
faba-284	301	3	the	the	DET
faba-284	301	4	aforementioned	aforementione	VERB
faba-284	301	5	have	have	VERB
faba-284	301	6	a	a	DET
faba-284	301	7	direct	direct	ADJ
faba-284	301	8	impact	impact	NOUN
faba-284	301	9	in	in	ADP
faba-284	301	10	the	the	DET
faba-284	301	11	demand	demand	NOUN
faba-284	301	12	for	for	ADP
faba-284	301	13	btc	btc	NOUN
faba-284	301	14	and	and	CCONJ
faba-284	301	15	thus	thus	ADV
faba-284	301	16	have	have	VERB
faba-284	301	17	an	an	DET
faba-284	301	18	impact	impact	NOUN
faba-284	301	19	in	in	ADP
faba-284	301	20	the	the	DET
faba-284	301	21	price	price	NOUN
faba-284	301	22	dynamics	dynamic	NOUN
faba-284	301	23	(	(	PUNCT
faba-284	301	24	del	del	PROPN
faba-284	301	25	castillo	castillo	PROPN
faba-284	301	26	2023	2023	NUM
faba-284	301	27	)	)	PUNCT
faba-284	301	28	.	.	PUNCT
faba-284	302	1	inflation	inflation	NOUN
faba-284	302	2	and	and	CCONJ
faba-284	302	3	interest	interest	NOUN
faba-284	302	4	rates	rate	NOUN
faba-284	302	5	btc	btc	VERB
faba-284	302	6	is	be	AUX
faba-284	302	7	a	a	DET
faba-284	302	8	consequence	consequence	NOUN
faba-284	302	9	of	of	ADP
faba-284	302	10	the	the	DET
faba-284	302	11	financial	financial	ADJ
faba-284	302	12	crisis	crisis	NOUN
faba-284	302	13	of	of	ADP
faba-284	302	14	2008	2008	NUM
faba-284	302	15	,	,	PUNCT
faba-284	302	16	one	one	NUM
faba-284	302	17	of	of	ADP
faba-284	302	18	its	its	PRON
faba-284	302	19	purposes	purpose	NOUN
faba-284	302	20	is	be	AUX
faba-284	302	21	to	to	PART
faba-284	302	22	be	be	AUX
faba-284	302	23	a	a	DET
faba-284	302	24	store	store	NOUN
faba-284	302	25	of	of	ADP
faba-284	302	26	value	value	NOUN
faba-284	302	27	and	and	CCONJ
faba-284	302	28	a	a	DET
faba-284	302	29	hedge	hedge	NOUN
faba-284	302	30	against	against	ADP
faba-284	302	31	inflation	inflation	NOUN
faba-284	302	32	.	.	PUNCT
faba-284	303	1	maybe	maybe	ADV
faba-284	303	2	it	it	PRON
faba-284	303	3	is	be	AUX
faba-284	303	4	a	a	DET
faba-284	303	5	mere	mere	ADJ
faba-284	303	6	coincidence	coincidence	NOUN
faba-284	303	7	,	,	PUNCT
faba-284	303	8	but	but	CCONJ
faba-284	303	9	it	it	PRON
faba-284	303	10	is	be	AUX
faba-284	303	11	interesting	interesting	ADJ
faba-284	303	12	to	to	PART
faba-284	303	13	observe	observe	VERB
faba-284	303	14	that	that	SCONJ
faba-284	303	15	the	the	DET
faba-284	303	16	three	three	NUM
faba-284	303	17	bull	bull	NOUN
faba-284	303	18	rallies	rally	NOUN
faba-284	303	19	occur	occur	VERB
faba-284	303	20	while	while	SCONJ
faba-284	303	21	inflation	inflation	NOUN
faba-284	303	22	numbers	number	NOUN
faba-284	303	23	(	(	PUNCT
faba-284	303	24	in	in	ADP
faba-284	303	25	the	the	DET
faba-284	303	26	us	us	PROPN
faba-284	303	27	)	)	PUNCT
faba-284	303	28	were	be	AUX
faba-284	303	29	on	on	ADP
faba-284	303	30	the	the	DET
faba-284	303	31	rise	rise	NOUN
faba-284	303	32	and	and	CCONJ
faba-284	303	33	that	that	SCONJ
faba-284	303	34	the	the	DET
faba-284	303	35	respective	respective	ADJ
faba-284	303	36	bear	bear	NOUN
faba-284	303	37	cycles	cycle	NOUN
faba-284	303	38	take	take	VERB
faba-284	303	39	place	place	NOUN
faba-284	303	40	while	while	SCONJ
faba-284	303	41	inflation	inflation	NOUN
faba-284	303	42	numbers	number	NOUN
faba-284	303	43	decrease	decrease	VERB
faba-284	303	44	.	.	PUNCT
faba-284	304	1	another	another	DET
faba-284	304	2	possible	possible	ADJ
faba-284	304	3	factor	factor	NOUN
faba-284	304	4	that	that	PRON
faba-284	304	5	could	could	AUX
faba-284	304	6	have	have	AUX
faba-284	304	7	contributed	contribute	VERB
faba-284	304	8	to	to	ADP
faba-284	304	9	btc	btc	PROPN
faba-284	304	10	’s	’s	PART
faba-284	304	11	growth	growth	NOUN
faba-284	304	12	and	and	CCONJ
faba-284	304	13	the	the	DET
faba-284	304	14	bull	bull	NOUN
faba-284	304	15	periods	period	NOUN
faba-284	304	16	,	,	PUNCT
faba-284	304	17	are	be	AUX
faba-284	304	18	the	the	DET
faba-284	304	19	us	us	PROPN
faba-284	304	20	fed	fed	PROPN
faba-284	304	21	’s	’s	PART
faba-284	304	22	interest	interest	NOUN
faba-284	304	23	rates	rate	NOUN
faba-284	304	24	and	and	CCONJ
faba-284	304	25	its	its	PRON
faba-284	304	26	economic	economic	ADJ
faba-284	304	27	impact	impact	NOUN
faba-284	304	28	during	during	ADP
faba-284	304	29	these	these	DET
faba-284	304	30	periods	period	NOUN
faba-284	304	31	.	.	PUNCT
faba-284	305	1	the	the	DET
faba-284	305	2	growth	growth	NOUN
faba-284	305	3	cycles	cycle	NOUN
faba-284	305	4	occur	occur	VERB
faba-284	305	5	while	while	SCONJ
faba-284	305	6	interest	interest	NOUN
faba-284	305	7	rates	rate	NOUN
faba-284	305	8	are	be	AUX
faba-284	305	9	at	at	ADP
faba-284	305	10	their	their	PRON
faba-284	305	11	lowest	low	ADJ
faba-284	305	12	value	value	NOUN
faba-284	305	13	in	in	ADP
faba-284	305	14	decades	decade	NOUN
faba-284	305	15	,	,	PUNCT
faba-284	305	16	sub	sub	NOUN
faba-284	305	17	0.5	0.5	NUM
faba-284	305	18	points	point	NOUN
faba-284	305	19	.	.	PUNCT
faba-284	306	1	rates	rate	NOUN
faba-284	306	2	started	start	VERB
faba-284	306	3	going	go	VERB
faba-284	306	4	up	up	ADP
faba-284	306	5	since	since	SCONJ
faba-284	306	6	nov	nov	PROPN
faba-284	306	7	2016	2016	NUM
faba-284	306	8	till	till	SCONJ
faba-284	306	9	they	they	PRON
faba-284	306	10	plateaued	plateaue	VERB
faba-284	306	11	at	at	ADP
faba-284	306	12	2.5	2.5	NUM
faba-284	306	13	on	on	ADP
faba-284	306	14	dec	dec	PROPN
faba-284	306	15	2018	2018	NUM
faba-284	306	16	,	,	PUNCT
faba-284	306	17	also	also	ADV
faba-284	306	18	marking	mark	VERB
faba-284	306	19	the	the	DET
faba-284	306	20	bottom	bottom	NOUN
faba-284	306	21	for	for	ADP
faba-284	306	22	the	the	DET
faba-284	306	23	2018	2018	NUM
faba-284	306	24	bear	bear	NOUN
faba-284	306	25	cycle	cycle	NOUN
faba-284	306	26	.	.	PUNCT
faba-284	307	1	then	then	ADV
faba-284	307	2	on	on	ADP
faba-284	307	3	feb	feb	PROPN
faba-284	307	4	2020	2020	NUM
faba-284	307	5	,	,	PUNCT
faba-284	307	6	the	the	DET
faba-284	307	7	covid-19	covid-19	PROPN
faba-284	307	8	black	black	ADJ
faba-284	307	9	swan	swan	NOUN
faba-284	307	10	event	event	NOUN
faba-284	307	11	triggered	trigger	VERB
faba-284	307	12	the	the	DET
faba-284	307	13	return	return	NOUN
faba-284	307	14	of	of	ADP
faba-284	307	15	low	low	ADJ
faba-284	307	16	interest	interest	NOUN
faba-284	307	17	rates	rate	NOUN
faba-284	307	18	of	of	ADP
faba-284	307	19	0.25	0.25	NUM
faba-284	307	20	points	point	NOUN
faba-284	307	21	.	.	PUNCT
faba-284	308	1	which	which	PRON
faba-284	308	2	could	could	AUX
faba-284	308	3	have	have	AUX
faba-284	308	4	benefited	benefit	VERB
faba-284	308	5	institutional	institutional	ADJ
faba-284	308	6	investors	investor	NOUN
faba-284	308	7	by	by	ADP
faba-284	308	8	having	have	VERB
faba-284	308	9	access	access	NOUN
faba-284	308	10	to	to	ADP
faba-284	308	11	cheap	cheap	ADJ
faba-284	308	12	money	money	NOUN
faba-284	308	13	for	for	ADP
faba-284	308	14	investment	investment	NOUN
faba-284	308	15	purposes	purpose	NOUN
faba-284	308	16	.	.	PUNCT
faba-284	309	1	expanding	expand	VERB
faba-284	309	2	on	on	ADP
faba-284	309	3	the	the	DET
faba-284	309	4	aforementioned	aforementioned	ADJ
faba-284	309	5	,	,	PUNCT
faba-284	309	6	empirical	empirical	ADJ
faba-284	309	7	studies	study	NOUN
faba-284	309	8	have	have	AUX
faba-284	309	9	shown	show	VERB
faba-284	309	10	that	that	SCONJ
faba-284	309	11	bitcoin	bitcoin	NOUN
faba-284	309	12	exhibits	exhibit	NOUN
faba-284	309	13	time‑varying	time‑varye	VERB
faba-284	309	14	inflation‑hedging	inflation‑hedge	VERB
faba-284	309	15	properties	property	NOUN
faba-284	309	16	,	,	PUNCT
faba-284	309	17	acting	act	VERB
faba-284	309	18	as	as	ADP
faba-284	309	19	a	a	DET
faba-284	309	20	partial	partial	ADJ
faba-284	309	21	hedge	hedge	NOUN
faba-284	309	22	during	during	ADP
faba-284	309	23	periods	period	NOUN
faba-284	309	24	of	of	ADP
faba-284	309	25	monetary	monetary	ADJ
faba-284	309	26	expansion	expansion	NOUN
faba-284	309	27	and	and	CCONJ
faba-284	309	28	elevated	elevated	ADJ
faba-284	309	29	inflation	inflation	NOUN
faba-284	309	30	uncertainty	uncertainty	NOUN
faba-284	309	31	(	(	PUNCT
faba-284	309	32	bouri	bouri	X
faba-284	309	33	et	et	PROPN
faba-284	309	34	al	al	PROPN
faba-284	309	35	.	.	PROPN
faba-284	309	36	2017	2017	NUM
faba-284	309	37	)	)	PUNCT
faba-284	309	38	.	.	PUNCT
faba-284	310	1	as	as	ADP
faba-284	310	2	of	of	ADP
faba-284	310	3	time	time	NOUN
faba-284	310	4	of	of	ADP
faba-284	310	5	writing	writing	NOUN
faba-284	310	6	,	,	PUNCT
faba-284	310	7	may	may	AUX
faba-284	310	8	2025	2025	NUM
faba-284	310	9	,	,	PUNCT
faba-284	310	10	the	the	DET
faba-284	310	11	fed	fed	PROPN
faba-284	310	12	is	be	AUX
faba-284	310	13	still	still	ADV
faba-284	310	14	applying	apply	VERB
faba-284	310	15	quantitative	quantitative	ADJ
faba-284	310	16	tightening	tightening	NOUN
faba-284	310	17	but	but	CCONJ
faba-284	310	18	there	there	PRON
faba-284	310	19	is	be	VERB
faba-284	310	20	increasing	increase	VERB
faba-284	310	21	pressure	pressure	NOUN
faba-284	310	22	to	to	PART
faba-284	310	23	switch	switch	VERB
faba-284	310	24	towards	towards	ADP
faba-284	310	25	quantitative	quantitative	ADJ
faba-284	310	26	easing	easing	NOUN
faba-284	310	27	.	.	PUNCT
faba-284	311	1	when	when	SCONJ
faba-284	311	2	this	this	PRON
faba-284	311	3	happens	happen	VERB
faba-284	311	4	,	,	PUNCT
faba-284	311	5	the	the	DET
faba-284	311	6	crypto	crypto	NOUN
faba-284	311	7	markets	market	NOUN
faba-284	311	8	might	might	AUX
faba-284	311	9	benefit	benefit	VERB
faba-284	311	10	from	from	ADP
faba-284	311	11	the	the	DET
faba-284	311	12	tail	tail	NOUN
faba-284	311	13	wind	wind	NOUN
faba-284	311	14	and	and	CCONJ
faba-284	311	15	this	this	PRON
faba-284	311	16	might	might	AUX
faba-284	311	17	translate	translate	VERB
faba-284	311	18	into	into	ADP
faba-284	311	19	appreciation	appreciation	NOUN
faba-284	311	20	of	of	ADP
faba-284	311	21	price	price	NOUN
faba-284	311	22	(	(	PUNCT
faba-284	311	23	trading	trading	NOUN
faba-284	311	24	economics	economics	PROPN
faba-284	311	25	n.d	n.d	PROPN
faba-284	311	26	.	.	PROPN
faba-284	311	27	)	)	PUNCT
faba-284	311	28	.	.	PUNCT
faba-284	312	1	the	the	DET
faba-284	312	2	figure	figure	NOUN
faba-284	312	3	below	below	ADP
faba-284	312	4	illustrates	illustrate	VERB
faba-284	312	5	in	in	ADP
faba-284	312	6	a	a	DET
faba-284	312	7	graphical	graphical	ADJ
faba-284	312	8	sense	sense	NOUN
faba-284	312	9	what	what	PRON
faba-284	312	10	was	be	AUX
faba-284	312	11	happening	happen	VERB
faba-284	312	12	and	and	CCONJ
faba-284	312	13	when	when	SCONJ
faba-284	312	14	.	.	PUNCT
faba-284	313	1	yellow	yellow	PROPN
faba-284	313	2	indicates	indicate	VERB
faba-284	313	3	the	the	DET
faba-284	313	4	halving	halve	VERB
faba-284	313	5	event	event	NOUN
faba-284	313	6	,	,	PUNCT
faba-284	313	7	green	green	VERB
faba-284	313	8	the	the	DET
faba-284	313	9	top	top	NOUN
faba-284	313	10	of	of	ADP
faba-284	313	11	cycle	cycle	NOUN
faba-284	313	12	and	and	CCONJ
faba-284	313	13	red	red	NOUN
faba-284	313	14	,	,	PUNCT
faba-284	313	15	the	the	DET
faba-284	313	16	bottom	bottom	NOUN
faba-284	313	17	of	of	ADP
faba-284	313	18	it	it	PRON
faba-284	313	19	.	.	PUNCT
faba-284	314	1	source	source	NOUN
faba-284	314	2	:	:	PUNCT
faba-284	314	3	authors	author	NOUN
faba-284	314	4	’	’	PART
faba-284	314	5	data	datum	NOUN
faba-284	314	6	(	(	PUNCT
faba-284	314	7	https://www.tradingview.com/	https://www.tradingview.com/	NOUN
faba-284	314	8	platform	platform	NOUN
faba-284	314	9	)	)	PUNCT
faba-284	314	10	figure	figure	NOUN
faba-284	314	11	7	7	NUM
faba-284	314	12	.	.	PUNCT
faba-284	315	1	btc	btc	PROPN
faba-284	315	2	’s	’s	PART
faba-284	315	3	timeline	timeline	NOUN
faba-284	315	4	along	along	ADP
faba-284	315	5	fed	fed	PROPN
faba-284	315	6	’s	’s	PART
faba-284	315	7	interest	interest	NOUN
faba-284	315	8	rate	rate	NOUN
faba-284	315	9	&	&	CCONJ
faba-284	315	10	us	us	PROPN
faba-284	315	11	inflation	inflation	NOUN
faba-284	315	12	rate	rate	NOUN
faba-284	315	13	inverse	inverse	NOUN
faba-284	315	14	relation	relation	NOUN
faba-284	315	15	with	with	ADP
faba-284	315	16	the	the	DET
faba-284	315	17	dxy	dxy	PROPN
faba-284	315	18	u.s	u.s	PROPN
faba-284	315	19	.	.	PROPN
faba-284	315	20	dollar	dollar	NOUN
faba-284	315	21	index	index	NOUN
faba-284	315	22	(	(	PUNCT
faba-284	315	23	usdx	usdx	PROPN
faba-284	315	24	)	)	PUNCT
faba-284	315	25	https://www.tradingview.com/?utm_source=chatgpt.com	https://www.tradingview.com/?utm_source=chatgpt.com	PROPN
faba-284	315	26	alejandro	alejandro	PROPN
faba-284	315	27	rabinovich	rabinovich	PROPN
faba-284	315	28	/	/	SYM
faba-284	315	29	finance	finance	NOUN
faba-284	315	30	,	,	PUNCT
faba-284	315	31	accounting	accounting	NOUN
faba-284	315	32	and	and	CCONJ
faba-284	315	33	business	business	NOUN
faba-284	315	34	analysis	analysis	NOUN
faba-284	315	35	,	,	PUNCT
faba-284	315	36	volume	volume	NOUN
faba-284	315	37	7	7	NUM
faba-284	315	38	,	,	PUNCT
faba-284	315	39	issue	issue	NOUN
faba-284	315	40	2	2	NUM
faba-284	315	41	,	,	PUNCT
faba-284	315	42	2025	2025	NUM
faba-284	315	43	265	265	NUM
faba-284	315	44	curiously	curiously	ADV
faba-284	315	45	enough	enough	ADV
faba-284	315	46	,	,	PUNCT
faba-284	315	47	throughout	throughout	ADP
faba-284	315	48	btc	btc	PROPN
faba-284	315	49	’s	’s	PART
faba-284	315	50	history	history	NOUN
faba-284	315	51	there	there	ADV
faba-284	315	52	has	have	AUX
faba-284	315	53	been	be	AUX
faba-284	315	54	an	an	DET
faba-284	315	55	inverse	inverse	NOUN
faba-284	315	56	relationship	relationship	NOUN
faba-284	315	57	with	with	ADP
faba-284	315	58	the	the	DET
faba-284	315	59	dxy	dxy	PROPN
faba-284	315	60	.	.	PUNCT
faba-284	316	1	whilst	whilst	SCONJ
faba-284	316	2	also	also	ADV
faba-284	316	3	occurring	occur	VERB
faba-284	316	4	in	in	ADP
faba-284	316	5	other	other	ADJ
faba-284	316	6	periods	period	NOUN
faba-284	316	7	,	,	PUNCT
faba-284	316	8	this	this	DET
faba-284	316	9	inverse	inverse	NOUN
faba-284	316	10	relationship	relationship	NOUN
faba-284	316	11	is	be	AUX
faba-284	316	12	not	not	PART
faba-284	316	13	as	as	ADV
faba-284	316	14	significant	significant	ADJ
faba-284	316	15	as	as	ADP
faba-284	316	16	in	in	ADP
faba-284	316	17	the	the	DET
faba-284	316	18	months	month	NOUN
faba-284	316	19	following	follow	VERB
faba-284	316	20	the	the	DET
faba-284	316	21	halving	halve	VERB
faba-284	316	22	event	event	NOUN
faba-284	316	23	.	.	PUNCT
faba-284	317	1	this	this	PRON
faba-284	317	2	could	could	AUX
faba-284	317	3	well	well	ADV
faba-284	317	4	be	be	AUX
faba-284	317	5	a	a	DET
faba-284	317	6	mere	mere	ADJ
faba-284	317	7	coincidence	coincidence	NOUN
faba-284	317	8	,	,	PUNCT
faba-284	317	9	or	or	CCONJ
faba-284	317	10	it	it	PRON
faba-284	317	11	could	could	AUX
faba-284	317	12	be	be	AUX
faba-284	317	13	an	an	DET
faba-284	317	14	indicative	indicative	ADJ
faba-284	317	15	of	of	ADP
faba-284	317	16	global	global	ADJ
faba-284	317	17	economic	economic	ADJ
faba-284	317	18	factors	factor	NOUN
faba-284	317	19	.	.	PUNCT
faba-284	318	1	under	under	ADP
faba-284	318	2	this	this	DET
faba-284	318	3	premise	premise	NOUN
faba-284	318	4	,	,	PUNCT
faba-284	318	5	it	it	PRON
faba-284	318	6	is	be	AUX
faba-284	318	7	of	of	ADP
faba-284	318	8	interest	interest	NOUN
faba-284	318	9	studying	study	VERB
faba-284	318	10	the	the	DET
faba-284	318	11	relationship	relationship	NOUN
faba-284	318	12	between	between	ADP
faba-284	318	13	btc	btc	PROPN
faba-284	318	14	and	and	CCONJ
faba-284	318	15	the	the	DET
faba-284	318	16	dxy	dxy	PROPN
faba-284	318	17	,	,	PUNCT
faba-284	318	18	given	give	VERB
faba-284	318	19	that	that	SCONJ
faba-284	318	20	the	the	DET
faba-284	318	21	later	later	ADJ
faba-284	318	22	factors	factor	NOUN
faba-284	318	23	in	in	ADP
faba-284	318	24	7	7	NUM
faba-284	318	25	major	major	ADJ
faba-284	318	26	currencies	currency	NOUN
faba-284	318	27	:	:	PUNCT
faba-284	318	28	the	the	DET
faba-284	318	29	us	us	PROPN
faba-284	318	30	dollar	dollar	NOUN
faba-284	318	31	,	,	PUNCT
faba-284	318	32	euro	euro	PROPN
faba-284	318	33	,	,	PUNCT
faba-284	318	34	japanese	japanese	ADJ
faba-284	318	35	yen	yen	NOUN
faba-284	318	36	,	,	PUNCT
faba-284	318	37	british	british	ADJ
faba-284	318	38	pound	pound	PROPN
faba-284	318	39	sterling	sterling	NOUN
faba-284	318	40	,	,	PUNCT
faba-284	318	41	canadian	canadian	ADJ
faba-284	318	42	dollar	dollar	NOUN
faba-284	318	43	,	,	PUNCT
faba-284	318	44	swedish	swedish	ADJ
faba-284	318	45	krona	krona	NOUN
faba-284	318	46	and	and	CCONJ
faba-284	318	47	swiss	swiss	ADJ
faba-284	318	48	franc	franc	NOUN
faba-284	318	49	.	.	PUNCT
faba-284	319	1	at	at	ADP
faba-284	319	2	its	its	PRON
faba-284	319	3	core	core	NOUN
faba-284	319	4	the	the	DET
faba-284	319	5	index	index	NOUN
faba-284	319	6	reflects	reflect	VERB
faba-284	319	7	the	the	DET
faba-284	319	8	appreciation	appreciation	NOUN
faba-284	319	9	or	or	CCONJ
faba-284	319	10	depreciation	depreciation	NOUN
faba-284	319	11	of	of	ADP
faba-284	319	12	the	the	DET
faba-284	319	13	us	us	PROPN
faba-284	319	14	dollar	dollar	NOUN
faba-284	319	15	versus	versus	ADP
faba-284	319	16	the	the	DET
faba-284	319	17	other	other	ADJ
faba-284	319	18	major	major	ADJ
faba-284	319	19	currencies	currency	NOUN
faba-284	319	20	in	in	ADP
faba-284	319	21	the	the	DET
faba-284	319	22	basket	basket	NOUN
faba-284	319	23	,	,	PUNCT
faba-284	319	24	therefore	therefore	ADV
faba-284	319	25	its	its	PRON
faba-284	319	26	use	use	NOUN
faba-284	319	27	as	as	ADP
faba-284	319	28	an	an	DET
faba-284	319	29	economic	economic	ADJ
faba-284	319	30	indicator	indicator	NOUN
faba-284	319	31	.	.	PUNCT
faba-284	320	1	under	under	ADP
faba-284	320	2	this	this	DET
faba-284	320	3	light	light	NOUN
faba-284	320	4	,	,	PUNCT
faba-284	320	5	an	an	DET
faba-284	320	6	inverse	inverse	NOUN
faba-284	320	7	relation	relation	NOUN
faba-284	320	8	between	between	ADP
faba-284	320	9	btc	btc	PROPN
faba-284	320	10	and	and	CCONJ
faba-284	320	11	the	the	DET
faba-284	320	12	dxy	dxy	PROPN
faba-284	320	13	could	could	AUX
faba-284	320	14	be	be	AUX
faba-284	320	15	explained	explain	VERB
faba-284	320	16	by	by	ADP
faba-284	320	17	some	some	PRON
faba-284	320	18	of	of	ADP
faba-284	320	19	the	the	DET
faba-284	320	20	objectives	objective	NOUN
faba-284	320	21	of	of	ADP
faba-284	320	22	btc	btc	NOUN
faba-284	320	23	:	:	PUNCT
faba-284	320	24			NOUN
faba-284	320	25	acting	act	VERB
faba-284	320	26	as	as	ADP
faba-284	320	27	a	a	DET
faba-284	320	28	safe	safe	ADJ
faba-284	320	29	haven	haven	NOUN
faba-284	320	30	:	:	PUNCT
faba-284	320	31	btc	btc	NOUN
faba-284	320	32	was	be	AUX
faba-284	320	33	conceived	conceive	VERB
faba-284	320	34	as	as	ADP
faba-284	320	35	a	a	DET
faba-284	320	36	store	store	NOUN
faba-284	320	37	of	of	ADP
faba-284	320	38	value	value	NOUN
faba-284	320	39	and	and	CCONJ
faba-284	320	40	a	a	DET
faba-284	320	41	form	form	NOUN
faba-284	320	42	of	of	ADP
faba-284	320	43	digital	digital	ADJ
faba-284	320	44	gold	gold	NOUN
faba-284	320	45	.	.	PUNCT
faba-284	321	1	inspired	inspire	VERB
faba-284	321	2	by	by	ADP
faba-284	321	3	the	the	DET
faba-284	321	4	2008	2008	NUM
faba-284	321	5	financial	financial	ADJ
faba-284	321	6	crisis	crisis	NOUN
faba-284	321	7	,	,	PUNCT
faba-284	321	8	it	it	PRON
faba-284	321	9	was	be	AUX
faba-284	321	10	designed	design	VERB
faba-284	321	11	to	to	PART
faba-284	321	12	act	act	VERB
faba-284	321	13	as	as	ADP
faba-284	321	14	a	a	DET
faba-284	321	15	safe	safe	ADJ
faba-284	321	16	heaven	heaven	NOUN
faba-284	321	17	during	during	ADP
faba-284	321	18	times	time	NOUN
faba-284	321	19	of	of	ADP
faba-284	321	20	uncertainty	uncertainty	NOUN
faba-284	321	21	when	when	SCONJ
faba-284	321	22	there	there	PRON
faba-284	321	23	is	be	VERB
faba-284	321	24	a	a	DET
faba-284	321	25	lack	lack	NOUN
faba-284	321	26	of	of	ADP
faba-284	321	27	confidence	confidence	NOUN
faba-284	321	28	in	in	ADP
faba-284	321	29	traditional	traditional	ADJ
faba-284	321	30	financial	financial	ADJ
faba-284	321	31	markets	market	NOUN
faba-284	321	32	.	.	PUNCT
faba-284	322	1			NOUN
faba-284	322	2	inflation	inflation	NOUN
faba-284	322	3	hedge	hedge	NOUN
faba-284	322	4	:	:	PUNCT
faba-284	322	5	under	under	ADP
faba-284	322	6	an	an	DET
faba-284	322	7	inflationary	inflationary	ADJ
faba-284	322	8	context	context	NOUN
faba-284	322	9	,	,	PUNCT
faba-284	322	10	when	when	SCONJ
faba-284	322	11	there	there	PRON
faba-284	322	12	are	be	VERB
faba-284	322	13	doubts	doubt	NOUN
faba-284	322	14	about	about	ADP
faba-284	322	15	currency	currency	NOUN
faba-284	322	16	devaluation	devaluation	NOUN
faba-284	322	17	and	and	CCONJ
faba-284	322	18	rising	rise	VERB
faba-284	322	19	inflation	inflation	NOUN
faba-284	322	20	,	,	PUNCT
faba-284	322	21	investors	investor	NOUN
faba-284	322	22	might	might	AUX
faba-284	322	23	take	take	VERB
faba-284	322	24	shelter	shelter	NOUN
faba-284	322	25	in	in	ADP
faba-284	322	26	an	an	DET
faba-284	322	27	asset	asset	NOUN
faba-284	322	28	like	like	ADP
faba-284	322	29	btc	btc	NOUN
faba-284	322	30	,	,	PUNCT
faba-284	322	31	that	that	PRON
faba-284	322	32	has	have	VERB
faba-284	322	33	a	a	DET
faba-284	322	34	capped	cap	VERB
faba-284	322	35	supply	supply	NOUN
faba-284	322	36	and	and	CCONJ
faba-284	322	37	is	be	AUX
faba-284	322	38	not	not	PART
faba-284	322	39	subject	subject	ADJ
faba-284	322	40	to	to	ADP
faba-284	322	41	central	central	ADJ
faba-284	322	42	bank	bank	NOUN
faba-284	322	43	policies	policy	NOUN
faba-284	322	44	.	.	PUNCT
faba-284	323	1	in	in	ADP
faba-284	323	2	line	line	NOUN
faba-284	323	3	with	with	ADP
faba-284	323	4	the	the	DET
faba-284	323	5	discussed	discuss	VERB
faba-284	323	6	,	,	PUNCT
faba-284	323	7	previous	previous	ADJ
faba-284	323	8	research	research	NOUN
faba-284	323	9	also	also	ADV
faba-284	323	10	documents	document	VERB
faba-284	323	11	that	that	PRON
faba-284	323	12	bitcoin	bitcoin	NOUN
faba-284	323	13	tends	tend	VERB
faba-284	323	14	to	to	PART
faba-284	323	15	display	display	VERB
faba-284	323	16	a	a	DET
faba-284	323	17	negative	negative	ADJ
faba-284	323	18	correlation	correlation	NOUN
faba-284	323	19	with	with	ADP
faba-284	323	20	the	the	DET
faba-284	323	21	u.s	u.s	PROPN
faba-284	323	22	.	.	PROPN
faba-284	323	23	dollar	dollar	PROPN
faba-284	323	24	index	index	NOUN
faba-284	323	25	,	,	PUNCT
faba-284	323	26	especially	especially	ADV
faba-284	323	27	in	in	ADP
faba-284	323	28	risk‑on	risk‑on	PROPN
faba-284	323	29	environments	environment	NOUN
faba-284	323	30	,	,	PUNCT
faba-284	323	31	reinforcing	reinforce	VERB
faba-284	323	32	the	the	DET
faba-284	323	33	relevance	relevance	NOUN
faba-284	323	34	of	of	ADP
faba-284	323	35	dollar‑driven	dollar‑driven	VERB
faba-284	323	36	macro	macro	ADJ
faba-284	323	37	cycles	cycle	NOUN
faba-284	323	38	for	for	ADP
faba-284	323	39	btc	btc	ADJ
faba-284	323	40	valuation	valuation	NOUN
faba-284	323	41	(	(	PUNCT
faba-284	323	42	dyhrberg	dyhrberg	PROPN
faba-284	323	43	2016	2016	NUM
faba-284	323	44	)	)	PUNCT
faba-284	323	45	.	.	PUNCT
faba-284	324	1	source	source	NOUN
faba-284	324	2	:	:	PUNCT
faba-284	324	3	authors	author	NOUN
faba-284	324	4	’	’	PART
faba-284	324	5	data	datum	NOUN
faba-284	324	6	(	(	PUNCT
faba-284	324	7	https://www.tradingview.com/	https://www.tradingview.com/	NOUN
faba-284	324	8	platform	platform	NOUN
faba-284	324	9	)	)	PUNCT
faba-284	324	10	figure	figure	NOUN
faba-284	324	11	8	8	NUM
faba-284	324	12	.	.	PUNCT
faba-284	325	1	btc	btc	PROPN
faba-284	325	2	-	-	PUNCT
faba-284	325	3	dxy	dxy	PROPN
faba-284	325	4	inverse	inverse	NOUN
faba-284	325	5	relation	relation	NOUN
faba-284	325	6	figure	figure	NOUN
faba-284	325	7	8	8	NUM
faba-284	325	8	illustrates	illustrate	VERB
faba-284	325	9	the	the	DET
faba-284	325	10	inverse	inverse	NOUN
faba-284	325	11	relationship	relationship	NOUN
faba-284	325	12	that	that	PRON
faba-284	325	13	has	have	AUX
faba-284	325	14	been	be	AUX
faba-284	325	15	observed	observe	VERB
faba-284	325	16	between	between	ADP
faba-284	325	17	btc	btc	PROPN
faba-284	325	18	and	and	CCONJ
faba-284	325	19	the	the	DET
faba-284	325	20	dxy	dxy	PROPN
faba-284	325	21	after	after	ADP
faba-284	325	22	the	the	DET
faba-284	325	23	halving	halving	NOUN
faba-284	325	24	event	event	NOUN
faba-284	325	25	or	or	CCONJ
faba-284	325	26	shortly	shortly	ADV
faba-284	325	27	before	before	ADV
faba-284	325	28	.	.	PUNCT
faba-284	326	1	the	the	DET
faba-284	326	2	figure	figure	NOUN
faba-284	326	3	plots	plot	VERB
faba-284	326	4	in	in	ADP
faba-284	326	5	yellow	yellow	ADJ
faba-284	326	6	the	the	DET
faba-284	326	7	halving	halve	VERB
faba-284	326	8	event	event	NOUN
faba-284	326	9	,	,	PUNCT
faba-284	326	10	color	color	NOUN
faba-284	326	11	green	green	NOUN
faba-284	326	12	and	and	CCONJ
faba-284	326	13	red	red	NOUN
faba-284	326	14	are	be	AUX
faba-284	326	15	used	use	VERB
faba-284	326	16	to	to	PART
faba-284	326	17	show	show	VERB
faba-284	326	18	the	the	DET
faba-284	326	19	percentual	percentual	ADJ
faba-284	326	20	increases	increase	NOUN
faba-284	326	21	or	or	CCONJ
faba-284	326	22	decreases	decrease	NOUN
faba-284	326	23	for	for	ADP
faba-284	326	24	the	the	DET
faba-284	326	25	same	same	ADJ
faba-284	326	26	time	time	NOUN
faba-284	326	27	window	window	NOUN
faba-284	326	28	in	in	ADP
faba-284	326	29	btc	btc	PROPN
faba-284	326	30	and	and	CCONJ
faba-284	326	31	dxy	dxy	PROPN
faba-284	326	32	.	.	PUNCT
faba-284	327	1	halvings	halving	NOUN
faba-284	327	2	effect	effect	VERB
faba-284	327	3	the	the	DET
faba-284	327	4	halving	halving	NOUN
faba-284	327	5	might	might	AUX
faba-284	327	6	mistakenly	mistakenly	ADV
faba-284	327	7	be	be	AUX
faba-284	327	8	overlooked	overlook	VERB
faba-284	327	9	as	as	ADP
faba-284	327	10	a	a	DET
faba-284	327	11	simple	simple	ADJ
faba-284	327	12	event	event	NOUN
faba-284	327	13	that	that	PRON
faba-284	327	14	reoccurs	reoccur	VERB
faba-284	327	15	every	every	DET
faba-284	327	16	four	four	NUM
faba-284	327	17	years	year	NOUN
faba-284	327	18	and	and	CCONJ
faba-284	327	19	that	that	SCONJ
faba-284	327	20	just	just	ADV
faba-284	327	21	halves	halve	VERB
faba-284	327	22	btc	btc	PROPN
faba-284	327	23	’s	’s	PART
faba-284	327	24	miners	miner	NOUN
faba-284	327	25	reward	reward	NOUN
faba-284	327	26	in	in	ADP
faba-284	327	27	half	half	NOUN
faba-284	327	28	.	.	PUNCT
faba-284	328	1	in	in	ADP
faba-284	328	2	fact	fact	NOUN
faba-284	328	3	,	,	PUNCT
faba-284	328	4	the	the	DET
faba-284	328	5	btc	btc	ADJ
faba-284	328	6	halving	halving	NOUN
faba-284	328	7	is	be	AUX
faba-284	328	8	one	one	NUM
faba-284	328	9	of	of	ADP
faba-284	328	10	,	,	PUNCT
faba-284	328	11	if	if	SCONJ
faba-284	328	12	not	not	PART
faba-284	328	13	,	,	PUNCT
faba-284	328	14	the	the	DET
faba-284	328	15	most	most	ADV
faba-284	328	16	important	important	ADJ
faba-284	328	17	characteristic	characteristic	NOUN
faba-284	328	18	of	of	ADP
faba-284	328	19	the	the	DET
faba-284	328	20	asset	asset	NOUN
faba-284	328	21	,	,	PUNCT
faba-284	328	22	with	with	ADP
faba-284	328	23	profound	profound	ADJ
faba-284	328	24	implications	implication	NOUN
faba-284	328	25	for	for	ADP
faba-284	328	26	its	its	PRON
faba-284	328	27	economic	economic	ADJ
faba-284	328	28	model	model	NOUN
faba-284	328	29	.	.	PUNCT
faba-284	329	1	the	the	DET
faba-284	329	2	price	price	NOUN
faba-284	329	3	fluctuations	fluctuation	NOUN
faba-284	329	4	of	of	ADP
faba-284	329	5	the	the	DET
faba-284	329	6	asset	asset	NOUN
faba-284	329	7	in	in	ADP
faba-284	329	8	the	the	DET
faba-284	329	9	weeks	week	NOUN
faba-284	329	10	prior	prior	ADV
faba-284	329	11	and	and	CCONJ
faba-284	329	12	after	after	ADP
faba-284	329	13	the	the	DET
faba-284	329	14	halving	halving	NOUN
faba-284	329	15	can	can	AUX
faba-284	329	16	be	be	AUX
faba-284	329	17	explained	explain	VERB
faba-284	329	18	by	by	ADP
faba-284	329	19	the	the	DET
faba-284	329	20	following	following	NOUN
faba-284	329	21	:	:	PUNCT
faba-284	329	22	supply	supply	NOUN
faba-284	329	23	reduction	reduction	NOUN
faba-284	329	24	:	:	PUNCT
faba-284	329	25	the	the	DET
faba-284	329	26	reward	reward	NOUN
faba-284	329	27	that	that	PRON
faba-284	329	28	miners	miner	NOUN
faba-284	329	29	receive	receive	VERB
faba-284	329	30	for	for	ADP
faba-284	329	31	validating	validate	VERB
faba-284	329	32	and	and	CCONJ
faba-284	329	33	adding	add	VERB
faba-284	329	34	new	new	ADJ
faba-284	329	35	blocks	block	NOUN
faba-284	329	36	to	to	ADP
faba-284	329	37	the	the	DET
faba-284	329	38	blockchain	blockchain	PROPN
faba-284	329	39	is	be	AUX
faba-284	329	40	reduced	reduce	VERB
faba-284	329	41	by	by	ADP
faba-284	329	42	half	half	NOUN
faba-284	329	43	.	.	PUNCT
faba-284	330	1	initially	initially	ADV
faba-284	330	2	,	,	PUNCT
faba-284	330	3	when	when	SCONJ
faba-284	330	4	btc	btc	PROPN
faba-284	330	5	was	be	AUX
faba-284	330	6	launched	launch	VERB
faba-284	330	7	in	in	ADP
faba-284	330	8	2009	2009	NUM
faba-284	330	9	,	,	PUNCT
faba-284	330	10	miners	miner	NOUN
faba-284	330	11	received	receive	VERB
faba-284	330	12	50	50	NUM
faba-284	330	13	btcs	btcs	NOUN
faba-284	330	14	per	per	ADP
faba-284	330	15	block	block	NOUN
faba-284	330	16	.	.	PUNCT
faba-284	331	1	the	the	DET
faba-284	331	2	first	first	ADJ
faba-284	331	3	halving	halving	NOUN
faba-284	331	4	occurred	occur	VERB
faba-284	331	5	in	in	ADP
faba-284	331	6	2012	2012	NUM
faba-284	331	7	,	,	PUNCT
faba-284	331	8	reducing	reduce	VERB
faba-284	331	9	the	the	DET
faba-284	331	10	reward	reward	NOUN
faba-284	331	11	to	to	ADP
faba-284	331	12	25	25	NUM
faba-284	331	13	btcs	btcs	NOUN
faba-284	331	14	.	.	PUNCT
faba-284	332	1	the	the	DET
faba-284	332	2	second	second	ADJ
faba-284	332	3	halving	halving	NOUN
faba-284	332	4	occurred	occur	VERB
faba-284	332	5	in	in	ADP
faba-284	332	6	2016	2016	NUM
faba-284	332	7	,	,	PUNCT
faba-284	332	8	reducing	reduce	VERB
faba-284	332	9	it	it	PRON
faba-284	332	10	further	far	ADV
faba-284	332	11	to	to	ADP
faba-284	332	12	12.5	12.5	NUM
faba-284	332	13	btcs	btcs	NOUN
faba-284	332	14	.	.	PUNCT
faba-284	333	1	the	the	DET
faba-284	333	2	third	third	ADJ
faba-284	333	3	halving	halving	NOUN
faba-284	333	4	occurred	occur	VERB
faba-284	333	5	in	in	ADP
faba-284	333	6	2020	2020	NUM
faba-284	333	7	,	,	PUNCT
faba-284	333	8	reducing	reduce	VERB
faba-284	333	9	the	the	DET
faba-284	333	10	reward	reward	NOUN
faba-284	333	11	to	to	ADP
faba-284	333	12	6.25	6.25	NUM
faba-284	333	13	btcs	btcs	NOUN
faba-284	333	14	.	.	PUNCT
faba-284	334	1	the	the	DET
faba-284	334	2	fourth	fourth	ADJ
faba-284	334	3	halving	halving	NOUN
faba-284	334	4	occurred	occur	VERB
faba-284	334	5	in	in	ADP
faba-284	334	6	2024	2024	NUM
faba-284	334	7	,	,	PUNCT
faba-284	334	8	reducing	reduce	VERB
faba-284	334	9	the	the	DET
faba-284	334	10	reward	reward	NOUN
faba-284	334	11	to	to	ADP
faba-284	334	12	3.12	3.12	NUM
faba-284	334	13	btcs	btcs	NOUN
faba-284	334	14	this	this	DET
faba-284	334	15	reduction	reduction	NOUN
faba-284	334	16	in	in	ADP
faba-284	334	17	the	the	DET
faba-284	334	18	rate	rate	NOUN
faba-284	334	19	of	of	ADP
faba-284	334	20	new	new	ADJ
faba-284	334	21	btc	btc	ADJ
faba-284	334	22	creation	creation	NOUN
faba-284	334	23	is	be	AUX
faba-284	334	24	designed	design	VERB
faba-284	334	25	to	to	PART
faba-284	334	26	control	control	VERB
faba-284	334	27	its	its	PRON
faba-284	334	28	overall	overall	ADJ
faba-284	334	29	supply	supply	NOUN
faba-284	334	30	.	.	PUNCT
faba-284	335	1	scarcity	scarcity	NOUN
faba-284	335	2	and	and	CCONJ
faba-284	335	3	deflationary	deflationary	ADJ
faba-284	335	4	nature	nature	NOUN
faba-284	335	5	:	:	PUNCT
faba-284	335	6	btc	btc	PROPN
faba-284	335	7	's	's	PART
faba-284	335	8	total	total	ADJ
faba-284	335	9	supply	supply	NOUN
faba-284	335	10	is	be	AUX
faba-284	335	11	capped	cap	VERB
faba-284	335	12	at	at	ADP
faba-284	335	13	21	21	NUM
faba-284	335	14	million	million	NUM
faba-284	335	15	coins	coin	NOUN
faba-284	335	16	.	.	PUNCT
faba-284	336	1	by	by	ADP
faba-284	336	2	halving	halve	VERB
faba-284	336	3	the	the	DET
faba-284	336	4	reward	reward	NOUN
faba-284	336	5	every	every	DET
faba-284	336	6	four	four	NUM
faba-284	336	7	years	year	NOUN
faba-284	336	8	,	,	PUNCT
faba-284	336	9	the	the	DET
faba-284	336	10	rate	rate	NOUN
faba-284	336	11	at	at	ADP
faba-284	336	12	which	which	PRON
faba-284	336	13	new	new	ADJ
faba-284	336	14	btcs	btcs	NOUN
faba-284	336	15	are	be	AUX
faba-284	336	16	created	create	VERB
faba-284	336	17	slows	slow	VERB
faba-284	336	18	down	down	ADP
faba-284	336	19	over	over	ADP
faba-284	336	20	time	time	NOUN
faba-284	336	21	.	.	PUNCT
faba-284	337	1	this	this	DET
faba-284	337	2	controlled	control	VERB
faba-284	337	3	https://www.tradingview.com/?utm_source=chatgpt.com	https://www.tradingview.com/?utm_source=chatgpt.com	PROPN
faba-284	337	4	alejandro	alejandro	PROPN
faba-284	337	5	rabinovich	rabinovich	PROPN
faba-284	337	6	/	/	SYM
faba-284	337	7	finance	finance	NOUN
faba-284	337	8	,	,	PUNCT
faba-284	337	9	accounting	accounting	NOUN
faba-284	337	10	and	and	CCONJ
faba-284	337	11	business	business	NOUN
faba-284	337	12	analysis	analysis	NOUN
faba-284	337	13	,	,	PUNCT
faba-284	337	14	volume	volume	NOUN
faba-284	337	15	7	7	NUM
faba-284	337	16	,	,	PUNCT
faba-284	337	17	issue	issue	NOUN
faba-284	337	18	2	2	NUM
faba-284	337	19	,	,	PUNCT
faba-284	337	20	2025	2025	NUM
faba-284	337	21	266	266	NUM
faba-284	337	22	issuance	issuance	NOUN
faba-284	337	23	creates	create	VERB
faba-284	337	24	a	a	DET
faba-284	337	25	sense	sense	NOUN
faba-284	337	26	of	of	ADP
faba-284	337	27	scarcity	scarcity	NOUN
faba-284	337	28	,	,	PUNCT
faba-284	337	29	similar	similar	ADJ
faba-284	337	30	to	to	ADP
faba-284	337	31	precious	precious	ADJ
faba-284	337	32	metals	metal	NOUN
faba-284	337	33	like	like	ADP
faba-284	337	34	gold	gold	NOUN
faba-284	337	35	.	.	PUNCT
faba-284	338	1	the	the	DET
faba-284	338	2	idea	idea	NOUN
faba-284	338	3	is	be	AUX
faba-284	338	4	that	that	SCONJ
faba-284	338	5	as	as	SCONJ
faba-284	338	6	the	the	DET
faba-284	338	7	supply	supply	NOUN
faba-284	338	8	becomes	become	VERB
faba-284	338	9	more	more	ADV
faba-284	338	10	limited	limited	ADJ
faba-284	338	11	,	,	PUNCT
faba-284	338	12	and	and	CCONJ
faba-284	338	13	if	if	SCONJ
faba-284	338	14	demand	demand	NOUN
faba-284	338	15	remains	remain	VERB
faba-284	338	16	constant	constant	ADJ
faba-284	338	17	or	or	CCONJ
faba-284	338	18	increases	increase	NOUN
faba-284	338	19	,	,	PUNCT
faba-284	338	20	the	the	DET
faba-284	338	21	value	value	NOUN
faba-284	338	22	of	of	ADP
faba-284	338	23	each	each	DET
faba-284	338	24	btc	btc	NOUN
faba-284	338	25	could	could	AUX
faba-284	338	26	rise	rise	VERB
faba-284	338	27	.	.	PUNCT
faba-284	339	1	market	market	NOUN
faba-284	339	2	perception	perception	NOUN
faba-284	339	3	and	and	CCONJ
faba-284	339	4	speculation	speculation	NOUN
faba-284	339	5	:	:	PUNCT
faba-284	339	6	traders	trader	NOUN
faba-284	339	7	,	,	PUNCT
faba-284	339	8	investors	investor	NOUN
faba-284	339	9	,	,	PUNCT
faba-284	339	10	and	and	CCONJ
faba-284	339	11	the	the	DET
faba-284	339	12	broader	broad	ADJ
faba-284	339	13	market	market	NOUN
faba-284	339	14	pay	pay	VERB
faba-284	339	15	close	close	ADJ
faba-284	339	16	attention	attention	NOUN
faba-284	339	17	to	to	ADP
faba-284	339	18	the	the	DET
faba-284	339	19	halving	halve	VERB
faba-284	339	20	events	event	NOUN
faba-284	339	21	.	.	PUNCT
faba-284	340	1	the	the	DET
faba-284	340	2	anticipation	anticipation	NOUN
faba-284	340	3	of	of	ADP
faba-284	340	4	reduced	reduce	VERB
faba-284	340	5	new	new	ADJ
faba-284	340	6	supply	supply	NOUN
faba-284	340	7	often	often	ADV
faba-284	340	8	leads	lead	VERB
faba-284	340	9	to	to	ADP
faba-284	340	10	increased	increase	VERB
faba-284	340	11	speculation	speculation	NOUN
faba-284	340	12	about	about	ADP
faba-284	340	13	potential	potential	ADJ
faba-284	340	14	price	price	NOUN
faba-284	340	15	increases	increase	NOUN
faba-284	340	16	.	.	PUNCT
faba-284	341	1	this	this	DET
faba-284	341	2	heightened	heighten	VERB
faba-284	341	3	interest	interest	NOUN
faba-284	341	4	can	can	AUX
faba-284	341	5	lead	lead	VERB
faba-284	341	6	to	to	ADP
faba-284	341	7	increased	increase	VERB
faba-284	341	8	demand	demand	NOUN
faba-284	341	9	in	in	ADP
faba-284	341	10	the	the	DET
faba-284	341	11	period	period	NOUN
faba-284	341	12	leading	lead	VERB
faba-284	341	13	up	up	ADP
faba-284	341	14	to	to	ADP
faba-284	341	15	and	and	CCONJ
faba-284	341	16	following	follow	VERB
faba-284	341	17	a	a	DET
faba-284	341	18	halving	halving	NOUN
faba-284	341	19	,	,	PUNCT
faba-284	341	20	affecting	affect	VERB
faba-284	341	21	the	the	DET
faba-284	341	22	market	market	NOUN
faba-284	341	23	dynamics	dynamic	NOUN
faba-284	341	24	.	.	PUNCT
faba-284	342	1	previous	previous	ADJ
faba-284	342	2	empirical	empirical	ADJ
faba-284	342	3	halving	halving	NOUN
faba-284	342	4	analyses	analysis	NOUN
faba-284	342	5	also	also	ADV
faba-284	342	6	document	document	VERB
faba-284	342	7	systematic	systematic	ADJ
faba-284	342	8	post‑halving	post‑halving	NOUN
faba-284	342	9	appreciation	appreciation	NOUN
faba-284	342	10	cycles	cycle	NOUN
faba-284	342	11	,	,	PUNCT
faba-284	342	12	strengthening	strengthen	VERB
faba-284	342	13	the	the	DET
faba-284	342	14	argument	argument	NOUN
faba-284	342	15	that	that	SCONJ
faba-284	342	16	bitcoin	bitcoin	NOUN
faba-284	342	17	’s	’s	PART
faba-284	342	18	issuance	issuance	NOUN
faba-284	342	19	schedule	schedule	NOUN
faba-284	342	20	plays	play	VERB
faba-284	342	21	a	a	DET
faba-284	342	22	central	central	ADJ
faba-284	342	23	role	role	NOUN
faba-284	342	24	in	in	ADP
faba-284	342	25	shaping	shape	VERB
faba-284	342	26	long‑term	long‑term	NOUN
faba-284	342	27	price	price	NOUN
faba-284	342	28	dynamics	dynamic	NOUN
faba-284	342	29	(	(	PUNCT
faba-284	342	30	fabus	fabus	PROPN
faba-284	342	31	et	et	PROPN
faba-284	342	32	al	al	PROPN
faba-284	342	33	.	.	PROPN
faba-284	342	34	2024	2024	NUM
faba-284	342	35	)	)	PUNCT
faba-284	342	36	.	.	PUNCT
faba-284	343	1	in	in	ADP
faba-284	343	2	the	the	DET
faba-284	343	3	figure	figure	NOUN
faba-284	343	4	below	below	ADV
faba-284	343	5	,	,	PUNCT
faba-284	343	6	the	the	DET
faba-284	343	7	yellow	yellow	ADJ
faba-284	343	8	lines	line	NOUN
faba-284	343	9	mark	mark	VERB
faba-284	343	10	when	when	SCONJ
faba-284	343	11	the	the	DET
faba-284	343	12	halving	halving	NOUN
faba-284	343	13	occurred	occur	VERB
faba-284	343	14	and	and	CCONJ
faba-284	343	15	the	the	DET
faba-284	343	16	consecutive	consecutive	ADJ
faba-284	343	17	growth	growth	NOUN
faba-284	343	18	in	in	ADP
faba-284	343	19	btc	btc	PROPN
faba-284	343	20	’s	’s	PART
faba-284	343	21	price	price	NOUN
faba-284	343	22	after	after	ADP
faba-284	343	23	the	the	DET
faba-284	343	24	event	event	NOUN
faba-284	343	25	.	.	PUNCT
faba-284	344	1	source	source	NOUN
faba-284	344	2	:	:	PUNCT
faba-284	344	3	authors	author	NOUN
faba-284	344	4	’	’	PART
faba-284	344	5	data	datum	NOUN
faba-284	344	6	(	(	PUNCT
faba-284	344	7	https://www.tradingview.com/	https://www.tradingview.com/	NOUN
faba-284	344	8	platform	platform	NOUN
faba-284	344	9	)	)	PUNCT
faba-284	344	10	figure	figure	NOUN
faba-284	344	11	9	9	NUM
faba-284	344	12	.	.	PUNCT
faba-284	345	1	btc	btc	PROPN
faba-284	345	2	’s	’s	PART
faba-284	345	3	halvings	halving	NOUN
faba-284	345	4	conclusion	conclusion	NOUN
faba-284	345	5	this	this	DET
faba-284	345	6	study	study	NOUN
faba-284	345	7	has	have	AUX
faba-284	345	8	examined	examine	VERB
faba-284	345	9	whether	whether	SCONJ
faba-284	345	10	a	a	DET
faba-284	345	11	halving	halve	VERB
faba-284	345	12	-	-	PUNCT
faba-284	345	13	anchored	anchored	ADJ
faba-284	345	14	,	,	PUNCT
faba-284	345	15	technically	technically	ADV
faba-284	345	16	driven	drive	VERB
faba-284	345	17	trading	trading	NOUN
faba-284	345	18	strategy	strategy	NOUN
faba-284	345	19	can	can	AUX
faba-284	345	20	outperform	outperform	VERB
faba-284	345	21	a	a	DET
faba-284	345	22	passive	passive	ADJ
faba-284	345	23	buy	buy	NOUN
faba-284	345	24	-	-	PUNCT
faba-284	345	25	and	and	CCONJ
faba-284	345	26	-	-	PUNCT
faba-284	345	27	hold	hold	VERB
faba-284	345	28	exposure	exposure	NOUN
faba-284	345	29	to	to	ADP
faba-284	345	30	bitcoin	bitcoin	VERB
faba-284	345	31	.	.	PUNCT
faba-284	346	1	using	use	VERB
faba-284	346	2	multiple	multiple	ADJ
faba-284	346	3	overlapping	overlap	VERB
faba-284	346	4	sample	sample	NOUN
faba-284	346	5	windows	window	NOUN
faba-284	346	6	,	,	PUNCT
faba-284	346	7	the	the	DET
faba-284	346	8	empirical	empirical	ADJ
faba-284	346	9	results	result	NOUN
faba-284	346	10	indicate	indicate	VERB
faba-284	346	11	that	that	SCONJ
faba-284	346	12	the	the	DET
faba-284	346	13	proposed	propose	VERB
faba-284	346	14	strategy	strategy	NOUN
faba-284	346	15	generates	generate	VERB
faba-284	346	16	positive	positive	ADJ
faba-284	346	17	and	and	CCONJ
faba-284	346	18	statistically	statistically	ADV
faba-284	346	19	significant	significant	ADJ
faba-284	346	20	alpha	alpha	NOUN
faba-284	346	21	relative	relative	ADJ
faba-284	346	22	to	to	ADP
faba-284	346	23	a	a	DET
faba-284	346	24	btc	btc	ADJ
faba-284	346	25	benchmark	benchmark	NOUN
faba-284	346	26	in	in	ADP
faba-284	346	27	most	most	ADJ
faba-284	346	28	periods	period	NOUN
faba-284	346	29	,	,	PUNCT
faba-284	346	30	and	and	CCONJ
faba-284	346	31	that	that	SCONJ
faba-284	346	32	the	the	DET
faba-284	346	33	associated	associated	ADJ
faba-284	346	34	equity	equity	NOUN
faba-284	346	35	curves	curve	NOUN
faba-284	346	36	display	display	VERB
faba-284	346	37	superior	superior	ADJ
faba-284	346	38	compounded	compound	VERB
faba-284	346	39	growth	growth	NOUN
faba-284	346	40	.	.	PUNCT
faba-284	347	1	these	these	DET
faba-284	347	2	findings	finding	NOUN
faba-284	347	3	suggest	suggest	VERB
faba-284	347	4	that	that	SCONJ
faba-284	347	5	bitcoin	bitcoin	PROPN
faba-284	347	6	’s	’s	PART
faba-284	347	7	protocol	protocol	NOUN
faba-284	347	8	-	-	PUNCT
faba-284	347	9	driven	drive	VERB
faba-284	347	10	supply	supply	NOUN
faba-284	347	11	schedule	schedule	NOUN
faba-284	347	12	and	and	CCONJ
faba-284	347	13	its	its	PRON
faba-284	347	14	cyclical	cyclical	ADJ
faba-284	347	15	price	price	NOUN
faba-284	347	16	behavior	behavior	NOUN
faba-284	347	17	can	can	AUX
faba-284	347	18	be	be	AUX
faba-284	347	19	translated	translate	VERB
faba-284	347	20	into	into	ADP
faba-284	347	21	systematic	systematic	ADJ
faba-284	347	22	trading	trading	NOUN
faba-284	347	23	rules	rule	NOUN
faba-284	347	24	with	with	ADP
faba-284	347	25	economically	economically	ADV
faba-284	347	26	meaningful	meaningful	ADJ
faba-284	347	27	performance	performance	NOUN
faba-284	347	28	over	over	ADP
faba-284	347	29	the	the	DET
faba-284	347	30	historical	historical	ADJ
faba-284	347	31	sample	sample	NOUN
faba-284	347	32	considered	consider	VERB
faba-284	347	33	.	.	PUNCT
faba-284	348	1	beyond	beyond	ADP
faba-284	348	2	the	the	DET
faba-284	348	3	strategy	strategy	NOUN
faba-284	348	4	itself	itself	PRON
faba-284	348	5	,	,	PUNCT
faba-284	348	6	the	the	DET
faba-284	348	7	analysis	analysis	NOUN
faba-284	348	8	highlights	highlight	VERB
faba-284	348	9	several	several	ADJ
faba-284	348	10	potential	potential	ADJ
faba-284	348	11	drivers	driver	NOUN
faba-284	348	12	of	of	ADP
faba-284	348	13	btc	btc	PROPN
faba-284	348	14	’s	’s	PART
faba-284	348	15	long	long	ADJ
faba-284	348	16	-	-	PUNCT
faba-284	348	17	term	term	NOUN
faba-284	348	18	growth	growth	NOUN
faba-284	348	19	that	that	PRON
faba-284	348	20	warrant	warrant	VERB
faba-284	348	21	further	further	ADJ
faba-284	348	22	investigation	investigation	NOUN
faba-284	348	23	.	.	PUNCT
faba-284	349	1	first	first	ADV
faba-284	349	2	,	,	PUNCT
faba-284	349	3	questions	question	NOUN
faba-284	349	4	remain	remain	VERB
faba-284	349	5	about	about	ADP
faba-284	349	6	market	market	NOUN
faba-284	349	7	structure	structure	NOUN
faba-284	349	8	and	and	CCONJ
faba-284	349	9	price	price	NOUN
faba-284	349	10	formation	formation	NOUN
faba-284	349	11	,	,	PUNCT
faba-284	349	12	especially	especially	ADV
faba-284	349	13	in	in	ADP
faba-284	349	14	bitcoin	bitcoin	NOUN
faba-284	349	15	’s	’s	PART
faba-284	349	16	early	early	ADJ
faba-284	349	17	years	year	NOUN
faba-284	349	18	when	when	SCONJ
faba-284	349	19	market	market	NOUN
faba-284	349	20	capitalization	capitalization	NOUN
faba-284	349	21	was	be	AUX
faba-284	349	22	low	low	ADJ
faba-284	349	23	and	and	CCONJ
faba-284	349	24	formal	formal	ADJ
faba-284	349	25	regulation	regulation	NOUN
faba-284	349	26	was	be	AUX
faba-284	349	27	limited	limit	VERB
faba-284	349	28	or	or	CCONJ
faba-284	349	29	absent	absent	ADJ
faba-284	349	30	.	.	PUNCT
faba-284	350	1	under	under	ADP
faba-284	350	2	such	such	ADJ
faba-284	350	3	conditions	condition	NOUN
faba-284	350	4	,	,	PUNCT
faba-284	350	5	the	the	DET
faba-284	350	6	possibility	possibility	NOUN
faba-284	350	7	of	of	ADP
faba-284	350	8	price	price	NOUN
faba-284	350	9	manipulation	manipulation	NOUN
faba-284	350	10	,	,	PUNCT
faba-284	350	11	including	include	VERB
faba-284	350	12	pump	pump	NOUN
faba-284	350	13	-	-	PUNCT
faba-284	350	14	and	and	CCONJ
faba-284	350	15	-	-	PUNCT
faba-284	350	16	dump	dump	NOUN
faba-284	350	17	dynamics	dynamic	NOUN
faba-284	350	18	,	,	PUNCT
faba-284	350	19	can	can	AUX
faba-284	350	20	not	not	PART
faba-284	350	21	be	be	AUX
faba-284	350	22	ruled	rule	VERB
faba-284	350	23	out	out	ADP
faba-284	350	24	and	and	CCONJ
faba-284	350	25	deserves	deserve	VERB
faba-284	350	26	dedicated	dedicated	ADJ
faba-284	350	27	study	study	NOUN
faba-284	350	28	,	,	PUNCT
faba-284	350	29	particularly	particularly	ADV
faba-284	350	30	in	in	ADP
faba-284	350	31	light	light	NOUN
faba-284	350	32	of	of	ADP
faba-284	350	33	the	the	DET
faba-284	350	34	growing	grow	VERB
faba-284	350	35	influence	influence	NOUN
faba-284	350	36	of	of	ADP
faba-284	350	37	large	large	ADJ
faba-284	350	38	institutional	institutional	ADJ
faba-284	350	39	players	player	NOUN
faba-284	350	40	and	and	CCONJ
faba-284	350	41	the	the	DET
faba-284	350	42	global	global	ADJ
faba-284	350	43	reach	reach	NOUN
faba-284	350	44	of	of	ADP
faba-284	350	45	the	the	DET
faba-284	350	46	asset	asset	NOUN
faba-284	350	47	.	.	PUNCT
faba-284	351	1	second	second	ADJ
faba-284	351	2	,	,	PUNCT
faba-284	351	3	macroeconomic	macroeconomic	ADJ
faba-284	351	4	forces	force	NOUN
faba-284	351	5	and	and	CCONJ
faba-284	351	6	investor	investor	NOUN
faba-284	351	7	sentiment	sentiment	NOUN
faba-284	351	8	appear	appear	VERB
faba-284	351	9	to	to	PART
faba-284	351	10	interact	interact	VERB
faba-284	351	11	with	with	ADP
faba-284	351	12	bitcoin	bitcoin	PROPN
faba-284	351	13	’s	’s	PART
faba-284	351	14	cycles	cycle	NOUN
faba-284	351	15	:	:	PUNCT
faba-284	351	16	episodes	episode	NOUN
faba-284	351	17	of	of	ADP
faba-284	351	18	elevated	elevated	ADJ
faba-284	351	19	inflation	inflation	NOUN
faba-284	351	20	,	,	PUNCT
faba-284	351	21	shifting	shift	VERB
faba-284	351	22	interest	interest	NOUN
faba-284	351	23	-	-	PUNCT
faba-284	351	24	rate	rate	NOUN
faba-284	351	25	regimes	regime	NOUN
faba-284	351	26	,	,	PUNCT
faba-284	351	27	and	and	CCONJ
faba-284	351	28	changing	change	VERB
faba-284	351	29	risk	risk	NOUN
faba-284	351	30	appetite	appetite	NOUN
faba-284	351	31	may	may	AUX
faba-284	351	32	amplify	amplify	VERB
faba-284	351	33	or	or	CCONJ
faba-284	351	34	dampen	dampen	VERB
faba-284	351	35	btc	btc	PROPN
faba-284	351	36	’s	’s	PART
faba-284	351	37	performance	performance	NOUN
faba-284	351	38	,	,	PUNCT
faba-284	351	39	suggesting	suggest	VERB
faba-284	351	40	that	that	SCONJ
faba-284	351	41	macro	macro	ADJ
faba-284	351	42	-	-	ADJ
faba-284	351	43	financial	financial	ADJ
faba-284	351	44	conditions	condition	NOUN
faba-284	351	45	are	be	AUX
faba-284	351	46	an	an	DET
faba-284	351	47	important	important	ADJ
faba-284	351	48	part	part	NOUN
faba-284	351	49	of	of	ADP
faba-284	351	50	the	the	DET
faba-284	351	51	broader	broad	ADJ
faba-284	351	52	narrative	narrative	NOUN
faba-284	351	53	.	.	PUNCT
faba-284	352	1	third	third	ADJ
faba-284	352	2	,	,	PUNCT
faba-284	352	3	the	the	DET
faba-284	352	4	halving	halve	VERB
faba-284	352	5	mechanism	mechanism	NOUN
faba-284	352	6	itself	itself	PRON
faba-284	352	7	may	may	AUX
faba-284	352	8	shape	shape	VERB
faba-284	352	9	investors	investor	NOUN
faba-284	352	10	’	'	PUNCT
faba-284	352	11	value	value	NOUN
faba-284	352	12	perceptions	perception	NOUN
faba-284	352	13	and	and	CCONJ
faba-284	352	14	expectations	expectation	NOUN
faba-284	352	15	,	,	PUNCT
faba-284	352	16	potentially	potentially	ADV
faba-284	352	17	giving	give	VERB
faba-284	352	18	rise	rise	NOUN
faba-284	352	19	to	to	ADP
faba-284	352	20	recurring	recur	VERB
faba-284	352	21	accumulation	accumulation	NOUN
faba-284	352	22	and	and	CCONJ
faba-284	352	23	distribution	distribution	NOUN
faba-284	352	24	phases	phase	NOUN
faba-284	352	25	that	that	PRON
faba-284	352	26	extend	extend	VERB
faba-284	352	27	beyond	beyond	ADP
faba-284	352	28	the	the	DET
faba-284	352	29	immediate	immediate	ADJ
faba-284	352	30	supply	supply	NOUN
faba-284	352	31	shock	shock	NOUN
faba-284	352	32	.	.	PUNCT
faba-284	353	1	from	from	ADP
faba-284	353	2	an	an	DET
faba-284	353	3	academic	academic	ADJ
faba-284	353	4	standpoint	standpoint	NOUN
faba-284	353	5	,	,	PUNCT
faba-284	353	6	the	the	DET
faba-284	353	7	main	main	ADJ
faba-284	353	8	contribution	contribution	NOUN
faba-284	353	9	of	of	ADP
faba-284	353	10	this	this	DET
faba-284	353	11	study	study	NOUN
faba-284	353	12	is	be	AUX
faba-284	353	13	to	to	PART
faba-284	353	14	document	document	VERB
faba-284	353	15	,	,	PUNCT
faba-284	353	16	over	over	ADP
faba-284	353	17	several	several	ADJ
faba-284	353	18	overlapping	overlap	VERB
faba-284	353	19	windows	window	NOUN
faba-284	353	20	,	,	PUNCT
faba-284	353	21	that	that	SCONJ
faba-284	353	22	a	a	DET
faba-284	353	23	halving	halve	VERB
faba-284	353	24	-	-	PUNCT
faba-284	353	25	anchored	anchor	VERB
faba-284	353	26	set	set	NOUN
faba-284	353	27	of	of	ADP
faba-284	353	28	technical	technical	ADJ
faba-284	353	29	rules	rule	NOUN
faba-284	353	30	can	can	AUX
faba-284	353	31	generate	generate	VERB
faba-284	353	32	positive	positive	ADJ
faba-284	353	33	and	and	CCONJ
faba-284	353	34	statistically	statistically	ADV
faba-284	353	35	significant	significant	ADJ
faba-284	353	36	alpha	alpha	NOUN
faba-284	353	37	relative	relative	ADJ
faba-284	353	38	to	to	ADP
faba-284	353	39	a	a	DET
faba-284	353	40	passive	passive	ADJ
faba-284	353	41	btc	btc	ADJ
faba-284	353	42	benchmark	benchmark	NOUN
faba-284	353	43	,	,	PUNCT
faba-284	353	44	and	and	CCONJ
faba-284	353	45	to	to	PART
faba-284	353	46	outline	outline	VERB
faba-284	353	47	macro	macro	ADJ
faba-284	353	48	-	-	ADJ
faba-284	353	49	financial	financial	ADJ
faba-284	353	50	channels	channel	NOUN
faba-284	353	51	—	—	PUNCT
faba-284	353	52	such	such	ADJ
faba-284	353	53	as	as	ADP
faba-284	353	54	liquidity	liquidity	NOUN
faba-284	353	55	conditions	condition	NOUN
faba-284	353	56	,	,	PUNCT
faba-284	353	57	monetary	monetary	ADJ
faba-284	353	58	policy	policy	NOUN
faba-284	353	59	regimes	regime	NOUN
faba-284	353	60	,	,	PUNCT
faba-284	353	61	and	and	CCONJ
faba-284	353	62	protocol	protocol	NOUN
faba-284	353	63	-	-	PUNCT
faba-284	353	64	driven	drive	VERB
faba-284	353	65	supply	supply	NOUN
faba-284	353	66	shocks	shock	NOUN
faba-284	353	67	—	—	PUNCT
faba-284	353	68	through	through	ADP
faba-284	353	69	which	which	PRON
faba-284	353	70	such	such	ADJ
faba-284	353	71	patterns	pattern	NOUN
faba-284	353	72	may	may	AUX
faba-284	353	73	arise	arise	VERB
faba-284	353	74	.	.	PUNCT
faba-284	354	1	importantly	importantly	ADV
faba-284	354	2	,	,	PUNCT
faba-284	354	3	the	the	DET
faba-284	354	4	analysis	analysis	NOUN
faba-284	354	5	is	be	AUX
faba-284	354	6	intended	intend	VERB
faba-284	354	7	as	as	ADP
faba-284	354	8	a	a	DET
faba-284	354	9	contribution	contribution	NOUN
faba-284	354	10	to	to	ADP
faba-284	354	11	the	the	DET
faba-284	354	12	empirical	empirical	ADJ
faba-284	354	13	literature	literature	NOUN
faba-284	354	14	on	on	ADP
faba-284	354	15	bitcoin	bitcoin	ADJ
faba-284	354	16	cyclicality	cyclicality	NOUN
faba-284	354	17	and	and	CCONJ
faba-284	354	18	investment	investment	NOUN
faba-284	354	19	strategies	strategy	NOUN
faba-284	354	20	,	,	PUNCT
faba-284	354	21	and	and	CCONJ
faba-284	354	22	not	not	PART
faba-284	354	23	as	as	ADP
faba-284	354	24	personalized	personalize	VERB
faba-284	354	25	investment	investment	NOUN
faba-284	354	26	advice	advice	NOUN
faba-284	354	27	.	.	PUNCT
faba-284	355	1	https://www.tradingview.com/?utm_source=chatgpt.com	https://www.tradingview.com/?utm_source=chatgpt.com	PROPN
faba-284	355	2	alejandro	alejandro	PROPN
faba-284	355	3	rabinovich	rabinovich	PROPN
faba-284	355	4	/	/	SYM
faba-284	355	5	finance	finance	NOUN
faba-284	355	6	,	,	PUNCT
faba-284	355	7	accounting	accounting	NOUN
faba-284	355	8	and	and	CCONJ
faba-284	355	9	business	business	NOUN
faba-284	355	10	analysis	analysis	NOUN
faba-284	355	11	,	,	PUNCT
faba-284	355	12	volume	volume	NOUN
faba-284	355	13	7	7	NUM
faba-284	355	14	,	,	PUNCT
faba-284	355	15	issue	issue	NOUN
faba-284	355	16	2	2	NUM
faba-284	355	17	,	,	PUNCT
faba-284	355	18	2025	2025	NUM
faba-284	355	19	267	267	NUM
faba-284	355	20	from	from	ADP
faba-284	355	21	an	an	DET
faba-284	355	22	institutional	institutional	ADJ
faba-284	355	23	portfolio	portfolio	NOUN
faba-284	355	24	-	-	PUNCT
faba-284	355	25	management	management	NOUN
faba-284	355	26	perspective	perspective	NOUN
faba-284	355	27	,	,	PUNCT
faba-284	355	28	these	these	DET
faba-284	355	29	findings	finding	NOUN
faba-284	355	30	are	be	AUX
faba-284	355	31	best	well	ADV
faba-284	355	32	interpreted	interpret	VERB
faba-284	355	33	as	as	ADP
faba-284	355	34	a	a	DET
faba-284	355	35	case	case	NOUN
faba-284	355	36	study	study	NOUN
faba-284	355	37	in	in	ADP
faba-284	355	38	designing	design	VERB
faba-284	355	39	rule	rule	NOUN
faba-284	355	40	-	-	PUNCT
faba-284	355	41	based	base	VERB
faba-284	355	42	,	,	PUNCT
faba-284	355	43	risk	risk	NOUN
faba-284	355	44	-	-	PUNCT
faba-284	355	45	managed	manage	VERB
faba-284	355	46	crypto	crypto	NOUN
faba-284	355	47	exposures	exposure	NOUN
faba-284	355	48	that	that	PRON
faba-284	355	49	can	can	AUX
faba-284	355	50	be	be	AUX
faba-284	355	51	slotted	slot	VERB
faba-284	355	52	into	into	ADP
faba-284	355	53	diversified	diversified	ADJ
faba-284	355	54	multi	multi	ADJ
faba-284	355	55	-	-	ADJ
faba-284	355	56	asset	asset	ADJ
faba-284	355	57	portfolios	portfolio	NOUN
faba-284	355	58	,	,	PUNCT
faba-284	355	59	rather	rather	ADV
faba-284	355	60	than	than	ADP
faba-284	355	61	as	as	ADP
faba-284	355	62	a	a	DET
faba-284	355	63	stand	stand	VERB
faba-284	355	64	-	-	PUNCT
faba-284	355	65	alone	alone	ADV
faba-284	355	66	trading	trading	NOUN
faba-284	355	67	mandate	mandate	NOUN
faba-284	355	68	.	.	PUNCT
faba-284	356	1	the	the	DET
faba-284	356	2	emphasis	emphasis	NOUN
faba-284	356	3	on	on	ADP
faba-284	356	4	transparent	transparent	ADJ
faba-284	356	5	rules	rule	NOUN
faba-284	356	6	,	,	PUNCT
faba-284	356	7	explicit	explicit	ADJ
faba-284	356	8	drawdown	drawdown	NOUN
faba-284	356	9	control	control	NOUN
faba-284	356	10	and	and	CCONJ
faba-284	356	11	long	long	ADJ
faba-284	356	12	-	-	PUNCT
faba-284	356	13	horizon	horizon	NOUN
faba-284	356	14	evaluation	evaluation	NOUN
faba-284	356	15	is	be	AUX
faba-284	356	16	also	also	ADV
faba-284	356	17	consistent	consistent	ADJ
faba-284	356	18	with	with	ADP
faba-284	356	19	the	the	DET
faba-284	356	20	broader	broad	ADJ
faba-284	356	21	sustainable	sustainable	ADJ
faba-284	356	22	-	-	PUNCT
faba-284	356	23	fintech	fintech	NOUN
faba-284	356	24	agenda	agenda	NOUN
faba-284	356	25	,	,	PUNCT
faba-284	356	26	in	in	ADP
faba-284	356	27	which	which	PRON
faba-284	356	28	digital	digital	ADJ
faba-284	356	29	-	-	PUNCT
faba-284	356	30	asset	asset	NOUN
faba-284	356	31	strategies	strategy	NOUN
faba-284	356	32	are	be	AUX
faba-284	356	33	engineered	engineer	VERB
faba-284	356	34	to	to	PART
faba-284	356	35	balance	balance	VERB
faba-284	356	36	innovation	innovation	NOUN
faba-284	356	37	with	with	ADP
faba-284	356	38	risk	risk	NOUN
faba-284	356	39	management	management	NOUN
faba-284	356	40	,	,	PUNCT
faba-284	356	41	governance	governance	NOUN
faba-284	356	42	and	and	CCONJ
faba-284	356	43	investor	investor	NOUN
faba-284	356	44	protection	protection	NOUN
faba-284	356	45	.	.	PUNCT
faba-284	357	1	acknowledgements	acknowledgement	NOUN
faba-284	357	2	i	i	PRON
faba-284	357	3	would	would	AUX
faba-284	357	4	like	like	VERB
faba-284	357	5	to	to	PART
faba-284	357	6	thank	thank	VERB
faba-284	357	7	prof	prof	PROPN
faba-284	357	8	.	.	PUNCT
faba-284	358	1	dr	dr	PROPN
faba-284	358	2	.	.	PROPN
faba-284	358	3	josé	josé	PROPN
faba-284	358	4	p.	p.	NOUN
faba-284	358	5	dapena	dapena	NOUN
faba-284	358	6	for	for	ADP
faba-284	358	7	guidance	guidance	NOUN
faba-284	358	8	on	on	ADP
faba-284	358	9	the	the	DET
faba-284	358	10	original	original	ADJ
faba-284	358	11	work	work	NOUN
faba-284	358	12	,	,	PUNCT
faba-284	358	13	dr	dr	PROPN
faba-284	358	14	.	.	PROPN
faba-284	358	15	maximiliano	maximiliano	PROPN
faba-284	358	16	ivickas	ivickas	PROPN
faba-284	358	17	magallan	magallan	PROPN
faba-284	358	18	for	for	ADP
faba-284	358	19	recognizing	recognize	VERB
faba-284	358	20	its	its	PRON
faba-284	358	21	potential	potential	NOUN
faba-284	358	22	as	as	ADP
faba-284	358	23	an	an	DET
faba-284	358	24	academic	academic	ADJ
faba-284	358	25	paper	paper	NOUN
faba-284	358	26	,	,	PUNCT
faba-284	358	27	and	and	CCONJ
faba-284	358	28	lic	lic	PROPN
faba-284	358	29	.	.	PUNCT
faba-284	359	1	bahía	bahía	PROPN
faba-284	359	2	solla	solla	PROPN
faba-284	359	3	rouquaud	rouquaud	NOUN
faba-284	359	4	for	for	ADP
faba-284	359	5	assistance	assistance	NOUN
faba-284	359	6	during	during	ADP
faba-284	359	7	the	the	DET
faba-284	359	8	publication	publication	NOUN
faba-284	359	9	process	process	NOUN
faba-284	359	10	.	.	PUNCT
faba-284	360	1	references	reference	NOUN
faba-284	360	2	benzinga	benzinga	ADJ
faba-284	360	3	.	.	PUNCT
faba-284	361	1	2023	2023	NUM
faba-284	361	2	.	.	PUNCT
faba-284	362	1	10	10	NUM
faba-284	362	2	public	public	ADJ
faba-284	362	3	companies	company	NOUN
faba-284	362	4	with	with	ADP
faba-284	362	5	largest	large	ADJ
faba-284	362	6	bitcoin	bitcoin	ADJ
faba-284	362	7	holdings	holding	NOUN
faba-284	362	8	in	in	ADP
faba-284	362	9	2023	2023	NUM
faba-284	362	10	.	.	PUNCT
faba-284	363	1	investing.com	investing.com	X
faba-284	363	2	,	,	PUNCT
faba-284	363	3	march	march	PROPN
faba-284	363	4	6	6	NUM
faba-284	363	5	,	,	PUNCT
faba-284	363	6	2023	2023	NUM
faba-284	363	7	.	.	PUNCT
faba-284	363	8	accessed	access	VERB
faba-284	363	9	may	may	PROPN
faba-284	363	10	2025	2025	NUM
faba-284	363	11	.	.	PUNCT
faba-284	364	1	https://uk.investing.com/news/stock-market-news/10-public-companies-withlargest-bitcoin-holdings-in-2023-2939608	https://uk.investing.com/news/stock-market-news/10-public-companies-withlargest-bitcoin-holdings-in-2023-2939608	PROPN
faba-284	364	2	.	.	PUNCT
faba-284	365	1	bouri	bouri	PROPN
faba-284	365	2	,	,	PUNCT
faba-284	365	3	e.	e.	PROPN
faba-284	365	4	,	,	PUNCT
faba-284	365	5	p.	p.	PROPN
faba-284	365	6	molnár	molnár	PROPN
faba-284	365	7	,	,	PUNCT
faba-284	365	8	g.	g.	PROPN
faba-284	365	9	azzi	azzi	PROPN
faba-284	365	10	,	,	PUNCT
faba-284	365	11	d.	d.	PROPN
faba-284	365	12	roubaud	roubaud	PROPN
faba-284	365	13	,	,	PUNCT
faba-284	365	14	and	and	CCONJ
faba-284	365	15	l.	l.	PROPN
faba-284	365	16	i.	i.	PROPN
faba-284	365	17	hagfors	hagfor	NOUN
faba-284	365	18	.	.	PUNCT
faba-284	366	1	2017	2017	NUM
faba-284	366	2	.	.	PUNCT
faba-284	367	1	on	on	ADP
faba-284	367	2	the	the	DET
faba-284	367	3	hedge	hedge	NOUN
faba-284	367	4	and	and	CCONJ
faba-284	367	5	safe	safe	ADJ
faba-284	367	6	haven	haven	NOUN
faba-284	367	7	properties	property	NOUN
faba-284	367	8	of	of	ADP
faba-284	367	9	bitcoin	bitcoin	NOUN
faba-284	367	10	:	:	PUNCT
faba-284	367	11	is	be	AUX
faba-284	367	12	it	it	PRON
faba-284	367	13	really	really	ADV
faba-284	367	14	more	more	ADJ
faba-284	367	15	than	than	ADP
faba-284	367	16	a	a	DET
faba-284	367	17	diversifier	diversifi	ADJ
faba-284	367	18	?	?	PUNCT
faba-284	368	1	finance	finance	NOUN
faba-284	368	2	research	research	NOUN
faba-284	368	3	letters	letter	NOUN
faba-284	368	4	,	,	PUNCT
faba-284	368	5	20	20	NUM
faba-284	368	6	:	:	PUNCT
faba-284	368	7	192–198	192–198	NUM
faba-284	368	8	.	.	PUNCT
faba-284	369	1	https://doi.org/10.1016/j.frl.2016.09.025	https://doi.org/10.1016/j.frl.2016.09.025	ADJ
faba-284	369	2	.	.	PUNCT
faba-284	369	3	companiesmarketcap	companiesmarketcap	NOUN
faba-284	369	4	.	.	PUNCT
faba-284	370	1	n.d	n.d	PROPN
faba-284	370	2	.	.	PROPN
faba-284	370	3	top	top	ADJ
faba-284	370	4	assets	asset	NOUN
faba-284	370	5	by	by	ADP
faba-284	370	6	market	market	NOUN
faba-284	370	7	cap	cap	NOUN
faba-284	370	8	.	.	PUNCT
faba-284	371	1	companiesmarketcap.com	companiesmarketcap.com	X
faba-284	371	2	.	.	PUNCT
faba-284	372	1	accessed	access	VERB
faba-284	372	2	april	april	PROPN
faba-284	372	3	2025	2025	NUM
faba-284	372	4	.	.	PUNCT
faba-284	373	1	https://companiesmarketcap.com/assets-by-market-cap/.	https://companiesmarketcap.com/assets-by-market-cap/.	PROPN
faba-284	373	2	corbet	corbet	PROPN
faba-284	373	3	,	,	PUNCT
faba-284	373	4	s.	s.	PROPN
faba-284	373	5	,	,	PUNCT
faba-284	373	6	v.	v.	ADP
faba-284	373	7	eraslan	eraslan	PROPN
faba-284	373	8	,	,	PUNCT
faba-284	373	9	b.	b.	PROPN
faba-284	373	10	m.	m.	PROPN
faba-284	373	11	lucey	lucey	PROPN
faba-284	373	12	,	,	PUNCT
faba-284	373	13	and	and	CCONJ
faba-284	373	14	a.	a.	NOUN
faba-284	373	15	sensoy	sensoy	NOUN
faba-284	373	16	.	.	PUNCT
faba-284	374	1	2019	2019	NUM
faba-284	374	2	.	.	PUNCT
faba-284	375	1	the	the	DET
faba-284	375	2	effectiveness	effectiveness	NOUN
faba-284	375	3	of	of	ADP
faba-284	375	4	technical	technical	ADJ
faba-284	375	5	trading	trading	NOUN
faba-284	375	6	rules	rule	NOUN
faba-284	375	7	in	in	ADP
faba-284	375	8	cryptocurrency	cryptocurrency	NOUN
faba-284	375	9	markets	market	NOUN
faba-284	375	10	.	.	PUNCT
faba-284	376	1	finance	finance	NOUN
faba-284	376	2	research	research	NOUN
faba-284	376	3	letters	letter	NOUN
faba-284	376	4	,	,	PUNCT
faba-284	376	5	31	31	NUM
faba-284	376	6	:	:	PUNCT
faba-284	376	7	32–37	32–37	NUM
faba-284	376	8	.	.	PUNCT
faba-284	377	1	https://doi.org/10.1016/j.frl.2019.04.027	https://doi.org/10.1016/j.frl.2019.04.027	PROPN
faba-284	377	2	.	.	PUNCT
faba-284	377	3	cryptojellenl	cryptojellenl	PROPN
faba-284	377	4	.	.	PUNCT
faba-284	378	1	2022	2022	NUM
faba-284	378	2	.	.	PUNCT
faba-284	379	1	how	how	SCONJ
faba-284	379	2	to	to	PART
faba-284	379	3	use	use	VERB
faba-284	379	4	the	the	DET
faba-284	379	5	market	market	NOUN
faba-284	379	6	structure	structure	NOUN
faba-284	379	7	in	in	ADP
faba-284	379	8	trading	trading	NOUN
faba-284	379	9	.	.	PUNCT
faba-284	380	1	coinmarketcap	coinmarketcap	PROPN
faba-284	380	2	academy	academy	PROPN
faba-284	380	3	.	.	PUNCT
faba-284	381	1	accessed	access	VERB
faba-284	381	2	april	april	PROPN
faba-284	381	3	2025	2025	NUM
faba-284	381	4	.	.	PUNCT
faba-284	382	1	https://coinmarketcap.com/academy/article/how-to-use-the-market-structure-in-trading	https://coinmarketcap.com/academy/article/how-to-use-the-market-structure-in-trade	VERB
faba-284	382	2	.	.	PUNCT
faba-284	383	1	del	del	PROPN
faba-284	383	2	castillo	castillo	PROPN
faba-284	383	3	,	,	PUNCT
faba-284	383	4	m.	m.	NOUN
faba-284	383	5	2023	2023	NUM
faba-284	383	6	.	.	PUNCT
faba-284	384	1	u.s	u.s	PROPN
faba-284	384	2	.	.	PROPN
faba-284	384	3	government	government	NOUN
faba-284	384	4	owns	own	VERB
faba-284	384	5	way	way	NOUN
faba-284	384	6	more	more	ADV
faba-284	384	7	bitcoin	bitcoin	ADJ
faba-284	384	8	than	than	ADP
faba-284	384	9	any	any	DET
faba-284	384	10	other	other	ADJ
faba-284	384	11	country	country	NOUN
faba-284	384	12	—	—	PUNCT
faba-284	384	13	so	so	ADV
faba-284	384	14	why	why	SCONJ
faba-284	384	15	are	be	AUX
faba-284	384	16	n’t	not	PART
faba-284	384	17	they	they	PRON
faba-284	384	18	selling	sell	VERB
faba-284	384	19	it	it	PRON
faba-284	384	20	?	?	PUNCT
faba-284	385	1	forbes	forbes	PROPN
faba-284	385	2	,	,	PUNCT
faba-284	385	3	june	june	PROPN
faba-284	385	4	16	16	NUM
faba-284	385	5	,	,	PUNCT
faba-284	385	6	2023	2023	NUM
faba-284	385	7	.	.	PUNCT
faba-284	386	1	accessed	access	VERB
faba-284	386	2	april	april	PROPN
faba-284	386	3	2025	2025	NUM
faba-284	386	4	.	.	PUNCT
faba-284	387	1	https://www.forbes.com/sites/michaeldelcastillo/2023/06/16/us-government-owns-way-morebitcoin-than-any-other-countryso-why-arent-they-selling-it/.	https://www.forbes.com/sites/michaeldelcastillo/2023/06/16/us-government-owns-way-morebitcoin-than-any-other-countryso-why-arent-they-selling-it/.	PROPN
faba-284	387	2	drake	drake	PROPN
faba-284	387	3	,	,	PUNCT
faba-284	387	4	p.	p.	NOUN
faba-284	387	5	p.	p.	NOUN
faba-284	387	6	2023a	2023a	NUM
faba-284	387	7	.	.	PUNCT
faba-284	388	1	reading	read	VERB
faba-284	388	2	6	6	NUM
faba-284	388	3	:	:	PUNCT
faba-284	388	4	hypothesis	hypothesis	NOUN
faba-284	388	5	testing	testing	NOUN
faba-284	388	6	.	.	PUNCT
faba-284	389	1	in	in	ADP
faba-284	389	2	cfa	cfa	PROPN
faba-284	389	3	program	program	NOUN
faba-284	389	4	curriculum	curriculum	NOUN
faba-284	389	5	2023	2023	NUM
faba-284	389	6	level	level	NOUN
faba-284	390	1	i	i	NOUN
faba-284	390	2	,	,	PUNCT
faba-284	390	3	volume	volume	NOUN
faba-284	390	4	1	1	NUM
faba-284	390	5	:	:	PUNCT
faba-284	390	6	quantitative	quantitative	ADJ
faba-284	390	7	methods	method	NOUN
faba-284	390	8	.	.	PUNCT
faba-284	391	1	cfa	cfa	PROPN
faba-284	391	2	institute	institute	PROPN
faba-284	391	3	.	.	PUNCT
faba-284	392	1	drake	drake	PROPN
faba-284	392	2	,	,	PUNCT
faba-284	392	3	p.	p.	NOUN
faba-284	392	4	p.	p.	NOUN
faba-284	392	5	2023b	2023b	NUM
faba-284	392	6	.	.	PUNCT
faba-284	393	1	reading	read	VERB
faba-284	393	2	7	7	NUM
faba-284	393	3	:	:	PUNCT
faba-284	393	4	introduction	introduction	NOUN
faba-284	393	5	to	to	ADP
faba-284	393	6	linear	linear	PROPN
faba-284	393	7	regression	regression	NOUN
faba-284	393	8	.	.	PUNCT
faba-284	394	1	in	in	ADP
faba-284	394	2	cfa	cfa	PROPN
faba-284	394	3	program	program	NOUN
faba-284	394	4	curriculum	curriculum	NOUN
faba-284	394	5	2023	2023	NUM
faba-284	394	6	level	level	NOUN
faba-284	395	1	i	i	NOUN
faba-284	395	2	,	,	PUNCT
faba-284	395	3	volume	volume	NOUN
faba-284	395	4	1	1	NUM
faba-284	395	5	:	:	PUNCT
faba-284	395	6	quantitative	quantitative	ADJ
faba-284	395	7	methods	method	NOUN
faba-284	395	8	.	.	PUNCT
faba-284	396	1	cfa	cfa	PROPN
faba-284	396	2	institute	institute	PROPN
faba-284	396	3	.	.	PUNCT
faba-284	397	1	dyhrberg	dyhrberg	PROPN
faba-284	397	2	,	,	PUNCT
faba-284	397	3	a.	a.	PROPN
faba-284	397	4	h.	h.	PROPN
faba-284	397	5	2016	2016	NUM
faba-284	397	6	.	.	PUNCT
faba-284	398	1	bitcoin	bitcoin	NOUN
faba-284	398	2	,	,	PUNCT
faba-284	398	3	gold	gold	NOUN
faba-284	398	4	and	and	CCONJ
faba-284	398	5	the	the	DET
faba-284	398	6	dollar	dollar	NOUN
faba-284	398	7	–	–	PUNCT
faba-284	398	8	a	a	DET
faba-284	398	9	garch	garch	NOUN
faba-284	398	10	volatility	volatility	NOUN
faba-284	398	11	analysis	analysis	NOUN
faba-284	398	12	.	.	PUNCT
faba-284	399	1	finance	finance	NOUN
faba-284	399	2	research	research	NOUN
faba-284	399	3	letters	letter	NOUN
faba-284	399	4	,	,	PUNCT
faba-284	399	5	16	16	NUM
faba-284	399	6	:	:	PUNCT
faba-284	399	7	85–92	85–92	NUM
faba-284	399	8	.	.	PUNCT
faba-284	400	1	https://doi.org/10.1016/j.frl.2015.10.008	https://doi.org/10.1016/j.frl.2015.10.008	NOUN
faba-284	400	2	.	.	PUNCT
faba-284	400	3	fabus	fabus	PROPN
faba-284	400	4	,	,	PUNCT
faba-284	400	5	j.	j.	PROPN
faba-284	400	6	,	,	PUNCT
faba-284	400	7	i.	i.	PROPN
faba-284	400	8	kremenova	kremenova	PROPN
faba-284	400	9	,	,	PUNCT
faba-284	400	10	n.	n.	PROPN
faba-284	400	11	stalmasekova	stalmasekova	PROPN
faba-284	400	12	,	,	PUNCT
faba-284	400	13	and	and	CCONJ
faba-284	400	14	t.	t.	PROPN
faba-284	400	15	kvasnicova	kvasnicova	PROPN
faba-284	400	16	-	-	PUNCT
faba-284	400	17	galovicova	galovicova	PROPN
faba-284	400	18	.	.	PUNCT
faba-284	401	1	2024	2024	NUM
faba-284	401	2	.	.	PUNCT
faba-284	402	1	an	an	DET
faba-284	402	2	empirical	empirical	ADJ
faba-284	402	3	examination	examination	NOUN
faba-284	402	4	of	of	ADP
faba-284	402	5	bitcoin	bitcoin	PROPN
faba-284	402	6	’s	’s	PART
faba-284	402	7	halving	halving	NOUN
faba-284	402	8	effects	effect	NOUN
faba-284	402	9	:	:	PUNCT
faba-284	402	10	assessing	assess	VERB
faba-284	402	11	cryptocurrency	cryptocurrency	NOUN
faba-284	402	12	sustainability	sustainability	NOUN
faba-284	402	13	within	within	ADP
faba-284	402	14	the	the	DET
faba-284	402	15	landscape	landscape	NOUN
faba-284	402	16	of	of	ADP
faba-284	402	17	financial	financial	ADJ
faba-284	402	18	technologies	technology	NOUN
faba-284	402	19	.	.	PUNCT
faba-284	403	1	journal	journal	NOUN
faba-284	403	2	of	of	ADP
faba-284	403	3	risk	risk	NOUN
faba-284	403	4	and	and	CCONJ
faba-284	403	5	financial	financial	ADJ
faba-284	403	6	management	management	NOUN
faba-284	403	7	,	,	PUNCT
faba-284	403	8	17(6	17(6	NUM
faba-284	403	9	):	):	PUNCT
faba-284	403	10	229	229	NUM
faba-284	403	11	.	.	PUNCT
faba-284	404	1	https://doi.org/10.3390/jrfm17060229	https://doi.org/10.3390/jrfm17060229	PROPN
faba-284	404	2	.	.	PUNCT
faba-284	405	1	freeman	freeman	PROPN
faba-284	405	2	,	,	PUNCT
faba-284	405	3	j.	j.	PROPN
faba-284	405	4	2025	2025	NUM
faba-284	405	5	.	.	PUNCT
faba-284	406	1	the	the	DET
faba-284	406	2	four	four	NUM
faba-284	406	3	-	-	PUNCT
faba-284	406	4	year	year	NOUN
faba-284	406	5	bitcoin	bitcoin	NOUN
faba-284	406	6	halving	halve	VERB
faba-284	406	7	cycle	cycle	NOUN
faba-284	406	8	.	.	PUNCT
faba-284	407	1	etoro	etoro	PROPN
faba-284	407	2	academy	academy	PROPN
faba-284	407	3	.	.	PUNCT
faba-284	408	1	accessed	access	VERB
faba-284	408	2	april	april	PROPN
faba-284	408	3	2025	2025	NUM
faba-284	408	4	.	.	PUNCT
faba-284	409	1	https://www.etoro.com/crypto/bitcoin-four-year-cycle/.	https://www.etoro.com/crypto/bitcoin-four-year-cycle/.	ADV
faba-284	409	2	gerritsen	gerritsen	PROPN
faba-284	409	3	,	,	PUNCT
faba-284	409	4	d.	d.	PROPN
faba-284	409	5	f.	f.	PROPN
faba-284	409	6	,	,	PUNCT
faba-284	409	7	e.	e.	PROPN
faba-284	409	8	bouri	bouri	PROPN
faba-284	409	9	,	,	PUNCT
faba-284	409	10	e.	e.	PROPN
faba-284	409	11	ramezanifar	ramezanifar	PROPN
faba-284	409	12	,	,	PUNCT
faba-284	409	13	and	and	CCONJ
faba-284	409	14	d.	d.	PROPN
faba-284	409	15	roubaud	roubaud	PROPN
faba-284	409	16	.	.	PUNCT
faba-284	410	1	2020	2020	NUM
faba-284	410	2	.	.	PUNCT
faba-284	411	1	the	the	DET
faba-284	411	2	profitability	profitability	NOUN
faba-284	411	3	of	of	ADP
faba-284	411	4	technical	technical	ADJ
faba-284	411	5	trading	trading	NOUN
faba-284	411	6	rules	rule	NOUN
faba-284	411	7	in	in	ADP
faba-284	411	8	the	the	DET
faba-284	411	9	bitcoin	bitcoin	ADJ
faba-284	411	10	market	market	NOUN
faba-284	411	11	.	.	PUNCT
faba-284	412	1	finance	finance	NOUN
faba-284	412	2	research	research	NOUN
faba-284	412	3	letters	letter	NOUN
faba-284	412	4	,	,	PUNCT
faba-284	412	5	34	34	NUM
faba-284	412	6	:	:	SYM
faba-284	412	7	101263	101263	NUM
faba-284	412	8	.	.	PUNCT
faba-284	413	1	https://doi.org/10.1016/j.frl.2019.08.011	https://doi.org/10.1016/j.frl.2019.08.011	NOUN
faba-284	413	2	.	.	PUNCT
faba-284	414	1	grobys	grobys	PROPN
faba-284	414	2	,	,	PUNCT
faba-284	414	3	k.	k.	PROPN
faba-284	414	4	,	,	PUNCT
faba-284	414	5	and	and	CCONJ
faba-284	414	6	n.	n.	PROPN
faba-284	414	7	sapkota	sapkota	NOUN
faba-284	414	8	.	.	PUNCT
faba-284	415	1	2019	2019	NUM
faba-284	415	2	.	.	PUNCT
faba-284	415	3	cryptocurrencies	cryptocurrencie	NOUN
faba-284	415	4	and	and	CCONJ
faba-284	415	5	momentum	momentum	NOUN
faba-284	415	6	.	.	PUNCT
faba-284	416	1	economics	economic	NOUN
faba-284	416	2	letters	letter	NOUN
faba-284	416	3	,	,	PUNCT
faba-284	416	4	180	180	NUM
faba-284	416	5	:	:	PUNCT
faba-284	416	6	6–10	6–10	NOUN
faba-284	416	7	.	.	PUNCT
faba-284	417	1	https://doi.org/10.1016/j.econlet.2019.03.028	https://doi.org/10.1016/j.econlet.2019.03.028	PROPN
faba-284	417	2	.	.	PUNCT
faba-284	418	1	jia	jia	PROPN
faba-284	418	2	,	,	PUNCT
faba-284	418	3	b.	b.	PROPN
faba-284	418	4	,	,	PUNCT
faba-284	418	5	j.	j.	PROPN
faba-284	418	6	w.	w.	PROPN
faba-284	418	7	goodell	goodell	PROPN
faba-284	418	8	,	,	PUNCT
faba-284	418	9	and	and	CCONJ
faba-284	418	10	d.	d.	PROPN
faba-284	418	11	shen	shen	PROPN
faba-284	418	12	.	.	PUNCT
faba-284	419	1	2022	2022	NUM
faba-284	419	2	.	.	PUNCT
faba-284	420	1	momentum	momentum	NOUN
faba-284	420	2	or	or	CCONJ
faba-284	420	3	reversal	reversal	NOUN
faba-284	420	4	:	:	PUNCT
faba-284	420	5	which	which	PRON
faba-284	420	6	is	be	AUX
faba-284	420	7	the	the	DET
faba-284	420	8	appropriate	appropriate	ADJ
faba-284	420	9	third	third	ADJ
faba-284	420	10	factor	factor	NOUN
faba-284	420	11	for	for	ADP
faba-284	420	12	cryptocurrencies	cryptocurrencie	NOUN
faba-284	420	13	?	?	PUNCT
faba-284	421	1	finance	finance	NOUN
faba-284	421	2	research	research	NOUN
faba-284	421	3	letters	letter	NOUN
faba-284	421	4	,	,	PUNCT
faba-284	421	5	45	45	NUM
faba-284	421	6	:	:	SYM
faba-284	421	7	102139	102139	NUM
faba-284	421	8	.	.	PUNCT
faba-284	422	1	https://doi.org/10.1016/j.frl.2021.102139	https://doi.org/10.1016/j.frl.2021.102139	PROPN
faba-284	422	2	.	.	PUNCT
faba-284	423	1	kibar	kibar	PROPN
faba-284	423	2	,	,	PUNCT
faba-284	423	3	a.	a.	PROPN
faba-284	423	4	,	,	PUNCT
faba-284	423	5	b.	b.	PROPN
faba-284	423	6	sine	sine	NOUN
faba-284	423	7	,	,	PUNCT
faba-284	423	8	and	and	CCONJ
faba-284	423	9	r.	r.	PROPN
faba-284	423	10	strong	strong	PROPN
faba-284	423	11	.	.	PUNCT
faba-284	424	1	2023	2023	NUM
faba-284	424	2	.	.	PUNCT
faba-284	425	1	learning	learn	VERB
faba-284	425	2	module	module	NOUN
faba-284	425	3	4	4	NUM
faba-284	425	4	:	:	PUNCT
faba-284	425	5	technical	technical	ADJ
faba-284	425	6	analysis	analysis	NOUN
faba-284	425	7	.	.	PUNCT
faba-284	426	1	in	in	ADP
faba-284	426	2	cfa	cfa	PROPN
faba-284	426	3	program	program	NOUN
faba-284	426	4	curriculum	curriculum	NOUN
faba-284	426	5	2023	2023	NUM
faba-284	426	6	level	level	NOUN
faba-284	427	1	i	i	NOUN
faba-284	427	2	,	,	PUNCT
faba-284	427	3	volume	volume	NOUN
faba-284	427	4	6	6	NUM
faba-284	427	5	:	:	PUNCT
faba-284	427	6	portfolio	portfolio	NOUN
faba-284	427	7	management	management	NOUN
faba-284	427	8	and	and	CCONJ
faba-284	427	9	ethical	ethical	ADJ
faba-284	427	10	and	and	CCONJ
faba-284	427	11	professional	professional	ADJ
faba-284	427	12	standards	standard	NOUN
faba-284	427	13	.	.	PUNCT
faba-284	428	1	cfa	cfa	PROPN
faba-284	428	2	institute	institute	PROPN
faba-284	428	3	.	.	PUNCT
faba-284	429	1	kolchin	kolchin	PROPN
faba-284	429	2	,	,	PUNCT
faba-284	429	3	k.	k.	PROPN
faba-284	429	4	,	,	PUNCT
faba-284	429	5	j.	j.	PROPN
faba-284	429	6	romulus	romulus	PROPN
faba-284	429	7	,	,	PUNCT
faba-284	429	8	and	and	CCONJ
faba-284	429	9	m.	m.	NOUN
faba-284	429	10	paluzzi	paluzzi	NOUN
faba-284	429	11	.	.	PUNCT
faba-284	430	1	2024	2024	NUM
faba-284	430	2	.	.	X
faba-284	431	1	2024	2024	NUM
faba-284	431	2	capital	capital	NOUN
faba-284	431	3	markets	market	NOUN
faba-284	431	4	fact	fact	NOUN
faba-284	431	5	book	book	NOUN
faba-284	431	6	.	.	PUNCT
faba-284	432	1	securities	security	NOUN
faba-284	432	2	industry	industry	NOUN
faba-284	432	3	and	and	CCONJ
faba-284	432	4	financial	financial	ADJ
faba-284	432	5	markets	market	NOUN
faba-284	432	6	association	association	NOUN
faba-284	432	7	(	(	PUNCT
faba-284	432	8	sifma	sifma	NOUN
faba-284	432	9	)	)	PUNCT
faba-284	432	10	,	,	PUNCT
faba-284	432	11	july	july	PROPN
faba-284	432	12	2024	2024	NUM
faba-284	432	13	.	.	PUNCT
faba-284	432	14	accessed	access	VERB
faba-284	432	15	april	april	PROPN
faba-284	432	16	2025	2025	NUM
faba-284	432	17	.	.	PUNCT
faba-284	433	1	https://www.sifma.org/wp-content/uploads/2023/07/2024-sifma-capital-marketsfactbook.pdf	https://www.sifma.org/wp-content/uploads/2023/07/2024-sifma-capital-marketsfactbook.pdf	NOUN
faba-284	433	2	.	.	PUNCT
faba-284	433	3	neufeld	neufeld	PROPN
faba-284	433	4	,	,	PUNCT
faba-284	433	5	d.	d.	PROPN
faba-284	433	6	2023	2023	NUM
faba-284	433	7	.	.	PUNCT
faba-284	433	8	ranked	rank	VERB
faba-284	433	9	:	:	PUNCT
faba-284	433	10	the	the	DET
faba-284	433	11	largest	large	ADJ
faba-284	433	12	bond	bond	NOUN
faba-284	433	13	markets	market	NOUN
faba-284	433	14	in	in	ADP
faba-284	433	15	the	the	DET
faba-284	433	16	world	world	NOUN
faba-284	433	17	.	.	PUNCT
faba-284	434	1	world	world	PROPN
faba-284	434	2	economic	economic	PROPN
faba-284	434	3	forum	forum	PROPN
faba-284	434	4	/	/	SYM
faba-284	434	5	visual	visual	ADJ
faba-284	434	6	capitalist	capitalist	NOUN
faba-284	434	7	,	,	PUNCT
faba-284	434	8	april	april	PROPN
faba-284	434	9	17	17	NUM
faba-284	434	10	,	,	PUNCT
faba-284	434	11	2023	2023	NUM
faba-284	434	12	.	.	PUNCT
faba-284	435	1	accessed	access	VERB
faba-284	435	2	april	april	PROPN
faba-284	435	3	,	,	PUNCT
faba-284	435	4	2025	2025	NUM
faba-284	435	5	.	.	PUNCT
faba-284	436	1	https://www.weforum.org/stories/2023/04/ranked-the-largest-bond-markets-in-the-world/.	https://www.weforum.org/stories/2023/04/ranked-the-largest-bond-markets-in-the-world/.	PRON
faba-284	436	2	https://uk.investing.com/news/stock-market-news/10-public-companies-with-largest-bitcoin-holdings-in-2023-2939608?utm_source=chatgpt.com	https://uk.investing.com/news/stock-market-news/10-public-companies-with-largest-bitcoin-holdings-in-2023-2939608?utm_source=chatgpt.com	X
faba-284	436	3	https://uk.investing.com/news/stock-market-news/10-public-companies-with-largest-bitcoin-holdings-in-2023-2939608?utm_source=chatgpt.com	https://uk.investing.com/news/stock-market-news/10-public-companies-with-largest-bitcoin-holdings-in-2023-2939608?utm_source=chatgpt.com	X
faba-284	437	1	https://doi.org/10.1016/j.frl.2016.09.025	https://doi.org/10.1016/j.frl.2016.09.025	ADJ
faba-284	437	2	https://companiesmarketcap.com/assets-by-market-cap/?utm_source=chatgpt.com	https://companiesmarketcap.com/assets-by-market-cap/?utm_source=chatgpt.com	PROPN
faba-284	437	3	https://doi.org/10.1016/j.frl.2019.04.027	https://doi.org/10.1016/j.frl.2019.04.027	PROPN
faba-284	437	4	https://coinmarketcap.com/academy/article/how-to-use-the-market-structure-in-trading?utm_source=chatgpt.com	https://coinmarketcap.com/academy/article/how-to-use-the-market-structure-in-trading?utm_source=chatgpt.com	PROPN
faba-284	437	5	https://www.forbes.com/sites/michaeldelcastillo/2023/06/16/us-government-owns-way-more-bitcoin-than-any-other-countryso-why-arent-they-selling-it/	https://www.forbes.com/sites/michaeldelcastillo/2023/06/16/us-government-owns-way-more-bitcoin-than-any-other-countryso-why-arent-they-selling-it/	PROPN
faba-284	437	6	https://www.forbes.com/sites/michaeldelcastillo/2023/06/16/us-government-owns-way-more-bitcoin-than-any-other-countryso-why-arent-they-selling-it/	https://www.forbes.com/sites/michaeldelcastillo/2023/06/16/us-government-owns-way-more-bitcoin-than-any-other-countryso-why-arent-they-selling-it/	PROPN
faba-284	437	7	https://doi.org/10.1016/j.frl.2015.10.008	https://doi.org/10.1016/j.frl.2015.10.008	PROPN
faba-284	437	8	https://doi.org/10.3390/jrfm17060229	https://doi.org/10.3390/jrfm17060229	PROPN
faba-284	437	9	https://www.etoro.com/crypto/bitcoin-four-year-cycle/?utm_source=chatgpt.com	https://www.etoro.com/crypto/bitcoin-four-year-cycle/?utm_source=chatgpt.com	X
faba-284	438	1	https://doi.org/10.1016/j.frl.2019.08.011	https://doi.org/10.1016/j.frl.2019.08.011	AUX
faba-284	438	2	https://doi.org/10.1016/j.econlet.2019.03.028	https://doi.org/10.1016/j.econlet.2019.03.028	PROPN
faba-284	438	3	https://doi.org/10.1016/j.frl.2021.102139	https://doi.org/10.1016/j.frl.2021.102139	PROPN
faba-284	438	4	https://www.sifma.org/wp-content/uploads/2023/07/2024-sifma-capital-markets-factbook.pdf?utm_source=chatgpt.com	https://www.sifma.org/wp-content/uploads/2023/07/2024-sifma-capital-markets-factbook.pdf?utm_source=chatgpt.com	X
faba-284	438	5	https://www.sifma.org/wp-content/uploads/2023/07/2024-sifma-capital-markets-factbook.pdf?utm_source=chatgpt.com	https://www.sifma.org/wp-content/uploads/2023/07/2024-sifma-capital-markets-factbook.pdf?utm_source=chatgpt.com	PROPN
faba-284	438	6	https://www.weforum.org/stories/2023/04/ranked-the-largest-bond-markets-in-the-world/?utm_source=chatgpt.com	https://www.weforum.org/stories/2023/04/ranked-the-largest-bond-markets-in-the-world/?utm_source=chatgpt.com	PROPN
faba-284	438	7	alejandro	alejandro	PROPN
faba-284	438	8	rabinovich	rabinovich	PROPN
faba-284	438	9	/	/	SYM
faba-284	438	10	finance	finance	NOUN
faba-284	438	11	,	,	PUNCT
faba-284	438	12	accounting	accounting	NOUN
faba-284	438	13	and	and	CCONJ
faba-284	438	14	business	business	NOUN
faba-284	438	15	analysis	analysis	NOUN
faba-284	438	16	,	,	PUNCT
faba-284	438	17	volume	volume	NOUN
faba-284	438	18	7	7	NUM
faba-284	438	19	,	,	PUNCT
faba-284	438	20	issue	issue	NOUN
faba-284	438	21	2	2	NUM
faba-284	438	22	,	,	PUNCT
faba-284	438	23	2025	2025	NUM
faba-284	438	24	268	268	NUM
faba-284	438	25	senado	senado	NOUN
faba-284	438	26	,	,	PUNCT
faba-284	438	27	x.	x.	NOUN
faba-284	438	28	2023	2023	NUM
faba-284	438	29	.	.	PUNCT
faba-284	439	1	bull	bull	NOUN
faba-284	439	2	market	market	NOUN
faba-284	439	3	support	support	NOUN
faba-284	439	4	band	band	NOUN
faba-284	439	5	—	—	PUNCT
faba-284	439	6	market	market	NOUN
faba-284	439	7	update	update	NOUN
faba-284	439	8	:	:	PUNCT
faba-284	439	9	july	july	PROPN
faba-284	439	10	07	07	NUM
faba-284	439	11	,	,	PUNCT
faba-284	439	12	2023	2023	NUM
faba-284	439	13	.	.	PUNCT
faba-284	440	1	medium	medium	NOUN
faba-284	440	2	(	(	PUNCT
faba-284	440	3	coinmonks	coinmonk	NOUN
faba-284	440	4	)	)	PUNCT
faba-284	440	5	,	,	PUNCT
faba-284	440	6	july	july	PROPN
faba-284	440	7	7	7	NUM
faba-284	440	8	,	,	PUNCT
faba-284	440	9	2023	2023	NUM
faba-284	440	10	.	.	PUNCT
faba-284	441	1	accessed	access	VERB
faba-284	441	2	april	april	PROPN
faba-284	441	3	2025	2025	NUM
faba-284	441	4	.	.	PUNCT
faba-284	442	1	https://medium.com/coinmonks/bull-market-support-band-marketupdate-july-07-2023-fc06463a63ec	https://medium.com/coinmonks/bull-market-support-band-marketupdate-july-07-2023-fc06463a63ec	PROPN
faba-284	442	2	.	.	PUNCT
faba-284	442	3	shen	shen	PROPN
faba-284	442	4	,	,	PUNCT
faba-284	442	5	c.	c.	PROPN
faba-284	442	6	2023	2023	NUM
faba-284	442	7	.	.	PUNCT
faba-284	443	1	what	what	PRON
faba-284	443	2	europe	europe	PROPN
faba-284	443	3	’s	’s	AUX
faba-284	443	4	new	new	ADJ
faba-284	443	5	spot	spot	PROPN
faba-284	443	6	bitcoin	bitcoin	PROPN
faba-284	443	7	etf	etf	NOUN
faba-284	443	8	means	mean	VERB
faba-284	443	9	for	for	ADP
faba-284	443	10	global	global	ADJ
faba-284	443	11	markets	market	NOUN
faba-284	443	12	.	.	PUNCT
faba-284	444	1	forkast	forkast	ADJ
faba-284	444	2	,	,	PUNCT
faba-284	444	3	september	september	PROPN
faba-284	444	4	18	18	NUM
faba-284	444	5	,	,	PUNCT
faba-284	444	6	2023	2023	NUM
faba-284	444	7	.	.	PUNCT
faba-284	445	1	accessed	access	VERB
faba-284	445	2	may	may	PROPN
faba-284	445	3	2025	2025	NUM
faba-284	445	4	.	.	PUNCT
faba-284	446	1	https://forkast.news/what-europes-spot-bitcoin-etf-means-for-markets/.	https://forkast.news/what-europes-spot-bitcoin-etf-means-for-markets/.	PRON
faba-284	446	2	singal	singal	NOUN
faba-284	446	3	,	,	PUNCT
faba-284	446	4	v.	v.	ADP
faba-284	446	5	2023	2023	NUM
faba-284	446	6	.	.	PUNCT
faba-284	447	1	learning	learn	VERB
faba-284	447	2	module	module	NOUN
faba-284	447	3	3	3	NUM
faba-284	447	4	:	:	PUNCT
faba-284	447	5	portfolio	portfolio	NOUN
faba-284	447	6	risk	risk	NOUN
faba-284	447	7	and	and	CCONJ
faba-284	447	8	return	return	NOUN
faba-284	447	9	,	,	PUNCT
faba-284	447	10	part	part	PROPN
faba-284	447	11	ii	ii	NOUN
faba-284	447	12	.	.	PUNCT
faba-284	448	1	in	in	ADP
faba-284	448	2	cfa	cfa	PROPN
faba-284	448	3	program	program	NOUN
faba-284	448	4	curriculum	curriculum	NOUN
faba-284	448	5	2023	2023	NUM
faba-284	448	6	level	level	NOUN
faba-284	449	1	i	i	NOUN
faba-284	449	2	,	,	PUNCT
faba-284	449	3	volume	volume	NOUN
faba-284	449	4	5	5	NUM
faba-284	449	5	:	:	PUNCT
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faba-284	449	8	,	,	PUNCT
faba-284	449	9	derivatives	derivative	NOUN
faba-284	449	10	,	,	PUNCT
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faba-284	449	12	investments	investment	NOUN
faba-284	449	13	,	,	PUNCT
faba-284	449	14	and	and	CCONJ
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faba-284	449	16	management	management	NOUN
faba-284	449	17	.	.	PUNCT
faba-284	450	1	cfa	cfa	PROPN
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faba-284	451	2	,	,	PUNCT
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faba-284	451	5	.	.	PUNCT
faba-284	452	1	the	the	DET
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faba-284	452	5	.	.	PUNCT
faba-284	453	1	medium	medium	ADJ
faba-284	453	2	,	,	PUNCT
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faba-284	453	4	18	18	NUM
faba-284	453	5	,	,	PUNCT
faba-284	453	6	2019	2019	NUM
faba-284	453	7	.	.	PUNCT
faba-284	454	1	accessed	access	VERB
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faba-284	454	4	.	.	PUNCT
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faba-284	455	2	.	.	PUNCT
faba-284	456	1	trading	trade	VERB
faba-284	456	2	economics	economic	NOUN
faba-284	456	3	.	.	PUNCT
faba-284	457	1	n.d	n.d	PROPN
faba-284	457	2	.	.	PROPN
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faba-284	457	9	.	.	PUNCT
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faba-284	458	2	.	.	PUNCT
faba-284	459	1	accessed	access	VERB
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faba-284	459	4	.	.	PUNCT
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faba-284	460	2	.	.	PUNCT
faba-284	461	1	urquhart	urquhart	PROPN
faba-284	461	2	,	,	PUNCT
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faba-284	461	5	.	.	PUNCT
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faba-284	462	5	.	.	PUNCT
faba-284	463	1	economics	economic	NOUN
faba-284	463	2	letters	letter	NOUN
faba-284	463	3	,	,	PUNCT
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faba-284	463	5	:	:	PUNCT
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faba-284	463	7	.	.	PUNCT
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faba-284	463	9	.	.	PUNCT
faba-284	464	1	https://medium.com/coinmonks/bull-market-support-band-market-update-july-07-2023-fc06463a63ec?utm_source=chatgpt.com	https://medium.com/coinmonks/bull-market-support-band-market-update-july-07-2023-fc06463a63ec?utm_source=chatgpt.com	X
faba-284	464	2	https://medium.com/coinmonks/bull-market-support-band-market-update-july-07-2023-fc06463a63ec?utm_source=chatgpt.com	https://medium.com/coinmonks/bull-market-support-band-market-update-july-07-2023-fc06463a63ec?utm_source=chatgpt.com	X
faba-284	464	3	https://forkast.news/what-europes-spot-bitcoin-etf-means-for-markets/?utm_source=chatgpt.com	https://forkast.news/what-europes-spot-bitcoin-etf-means-for-markets/?utm_source=chatgpt.com	X
faba-284	465	1	https://positivecrypto.medium.com/the-golden-ratio-multiplier-c2567401e12a?utm_source=chatgpt.com	https://positivecrypto.medium.com/the-golden-ratio-multiplier-c2567401e12a?utm_source=chatgpt.com	X
faba-284	465	2	https://tradingeconomics.com/united-states/interest-rate?utm_source=chatgpt.com	https://tradingeconomics.com/united-states/interest-rate?utm_source=chatgpt.com	PROPN
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faba-284	465	8	,	,	PUNCT
faba-284	465	9	accounting	accounting	NOUN
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faba-284	465	11	business	business	NOUN
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faba-284	465	13	,	,	PUNCT
faba-284	465	14	volume	volume	NOUN
faba-284	465	15	7	7	NUM
faba-284	465	16	,	,	PUNCT
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faba-284	465	18	2	2	NUM
faba-284	465	19	,	,	PUNCT
faba-284	465	20	2025	2025	NUM
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faba-284	465	23	1	1	NUM
faba-284	465	24	.	.	PUNCT
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faba-284	465	32	2	2	NUM
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faba-284	467	7	5	5	NUM
faba-284	467	8	.	.	X
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faba-284	468	4	.	.	PUNCT
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faba-284	468	6	=	=	PUNCT
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faba-284	468	9	"	"	PUNCT
faba-284	468	10	7	7	NUM
faba-284	468	11	.	.	PUNCT
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faba-284	468	13	=	=	PUNCT
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faba-284	468	23	.	.	NOUN
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faba-284	468	25	.	.	X
faba-284	469	1	#	#	NOUN
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faba-284	469	7	10	10	NUM
faba-284	469	8	.	.	PUNCT
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faba-284	470	2	=	=	SYM
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faba-284	470	4	-	-	PUNCT
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faba-284	470	6	-	-	PUNCT
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faba-284	470	8	(	(	PUNCT
faba-284	470	9	)	)	PUNCT
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faba-284	470	11	.	.	PUNCT
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faba-284	471	2	=	=	SYM
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faba-284	471	6	-	-	PUNCT
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faba-284	471	8	(	(	PUNCT
faba-284	471	9	)	)	PUNCT
faba-284	471	10	12	12	NUM
faba-284	471	11	.	.	X
faba-284	471	12	13	13	NUM
faba-284	471	13	.	.	PUNCT
faba-284	472	1	step	step	NOUN
faba-284	472	2	=	=	SYM
faba-284	472	3	86400	86400	NUM
faba-284	472	4	#	#	NOUN
faba-284	472	5	1	1	NUM
faba-284	472	6	day	day	NOUN
faba-284	472	7	14	14	NUM
faba-284	472	8	.	.	PUNCT
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faba-284	473	2	=	=	SYM
faba-284	473	3	1000	1000	NUM
faba-284	473	4	#	#	NOUN
faba-284	473	5	max	max	PROPN
faba-284	473	6	candles	candle	NOUN
faba-284	473	7	per	per	ADP
faba-284	473	8	api	api	NOUN
faba-284	473	9	call	call	NOUN
faba-284	473	10	15	15	NUM
faba-284	473	11	.	.	PUNCT
faba-284	474	1	16	16	NUM
faba-284	474	2	.	.	PUNCT
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faba-284	475	1	=	=	PUNCT
faba-284	476	1	[	[	X
faba-284	476	2	]	]	X
faba-284	476	3	17	17	NUM
faba-284	476	4	.	.	PUNCT
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faba-284	477	2	=	=	SYM
faba-284	477	3	int(start_date	int(start_date	NOUN
faba-284	477	4	)	)	PUNCT
faba-284	477	5	18	18	NUM
faba-284	477	6	.	.	PUNCT
faba-284	478	1	while	while	SCONJ
faba-284	478	2	current_start	current_start	ADJ
faba-284	478	3	<	<	X
faba-284	478	4	end_date	end_date	NOUN
faba-284	478	5	:	:	PUNCT
faba-284	478	6	19	19	NUM
faba-284	478	7	.	.	X
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faba-284	478	9	=	=	SYM
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faba-284	478	17	20	20	NUM
faba-284	478	18	.	.	PUNCT
faba-284	479	1	if	if	SCONJ
faba-284	479	2	current_end	current_end	AUX
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faba-284	479	4	end_date	end_date	NOUN
faba-284	479	5	:	:	PUNCT
faba-284	479	6	21	21	NUM
faba-284	479	7	.	.	PUNCT
faba-284	480	1	current_end	current_end	VERB
faba-284	480	2	=	=	SYM
faba-284	480	3	int(end_date	int(end_date	NOUN
faba-284	480	4	)	)	PUNCT
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faba-284	480	6	.	.	PUNCT
faba-284	481	1	23	23	NUM
faba-284	481	2	.	.	PUNCT
faba-284	482	1	print(f"fetching	print(f"fetche	VERB
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faba-284	482	11	{	{	PUNCT
faba-284	482	12	datetime.datetime.utcfromtimestamp(current_end	datetime.datetime.utcfromtimestamp(current_end	NOUN
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faba-284	482	17	25	25	NUM
faba-284	482	18	.	.	NOUN
faba-284	482	19	26	26	NUM
faba-284	482	20	.	.	PUNCT
faba-284	483	1	params	param	NOUN
faba-284	483	2	=	=	PUNCT
faba-284	483	3	{	{	PUNCT
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faba-284	483	5	step	step	NOUN
faba-284	483	6	"	"	PUNCT
faba-284	483	7	:	:	PUNCT
faba-284	483	8	step	step	NOUN
faba-284	483	9	,	,	PUNCT
faba-284	483	10	27	27	NUM
faba-284	483	11	.	.	PUNCT
faba-284	484	1	"	"	PUNCT
faba-284	484	2	limit	limit	NOUN
faba-284	484	3	"	"	PUNCT
faba-284	484	4	:	:	PUNCT
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faba-284	484	7	28	28	NUM
faba-284	484	8	.	.	PUNCT
faba-284	485	1	"	"	PUNCT
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faba-284	485	6	,	,	PUNCT
faba-284	485	7	29	29	NUM
faba-284	485	8	.	.	PUNCT
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faba-284	486	11	.	.	PUNCT
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faba-284	487	2	:	:	PUNCT
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faba-284	487	4	.	.	PUNCT
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faba-284	488	4	,	,	PUNCT
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faba-284	488	10	.	.	PUNCT
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faba-284	490	1	=	=	SYM
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faba-284	491	2	:	:	SYM
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faba-284	491	18	.	.	PUNCT
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faba-284	491	21	.	.	PUNCT
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faba-284	492	4	(	(	PUNCT
faba-284	492	5	)	)	PUNCT
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faba-284	492	7	.	.	PUNCT
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faba-284	494	4	,	,	PUNCT
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faba-284	495	2	]	]	X
faba-284	495	3	)	)	PUNCT
faba-284	495	4	38	38	NUM
faba-284	495	5	.	.	PUNCT
faba-284	496	1	master_data	master_data	X
faba-284	497	1	+	+	PUNCT
faba-284	497	2	=	=	X
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faba-284	497	5	.	.	PUNCT
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faba-284	497	10	:	:	PUNCT
faba-284	497	11	40	40	NUM
faba-284	497	12	.	.	PUNCT
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faba-284	501	2	)	)	PUNCT
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faba-284	501	6	.	.	PUNCT
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faba-284	502	5	.	.	PUNCT
faba-284	503	1	df	df	PROPN
faba-284	503	2	=	=	SYM
faba-284	503	3	pd.dataframe(master_data	pd.dataframe(master_data	PROPN
faba-284	503	4	)	)	PUNCT
faba-284	503	5	48	48	NUM
faba-284	503	6	.	.	PUNCT
faba-284	504	1	df	df	PROPN
faba-284	504	2	=	=	PUNCT
faba-284	504	3	df.drop_duplicates	df.drop_duplicate	NOUN
faba-284	504	4	(	(	PUNCT
faba-284	504	5	)	)	PUNCT
faba-284	504	6	alejandro	alejandro	PROPN
faba-284	504	7	rabinovich	rabinovich	PROPN
faba-284	504	8	/	/	SYM
faba-284	504	9	finance	finance	NOUN
faba-284	504	10	,	,	PUNCT
faba-284	504	11	accounting	accounting	NOUN
faba-284	504	12	and	and	CCONJ
faba-284	504	13	business	business	NOUN
faba-284	504	14	analysis	analysis	NOUN
faba-284	504	15	,	,	PUNCT
faba-284	504	16	volume	volume	NOUN
faba-284	504	17	7	7	NUM
faba-284	504	18	,	,	PUNCT
faba-284	504	19	issue	issue	NOUN
faba-284	504	20	2	2	NUM
faba-284	504	21	,	,	PUNCT
faba-284	504	22	2025	2025	NUM
faba-284	504	23	270	270	NUM
faba-284	504	24	49	49	NUM
faba-284	504	25	.	.	PUNCT
faba-284	505	1	#	#	NOUN
faba-284	505	2	format	format	NOUN
faba-284	505	3	date	date	NOUN
faba-284	505	4	50	50	NUM
faba-284	505	5	.	.	PUNCT
faba-284	506	1	df["timestamp	df["timestamp	PROPN
faba-284	506	2	"	"	PUNCT
faba-284	506	3	]	]	X
faba-284	506	4	=	=	SYM
faba-284	506	5	df["timestamp"].astype(int	df["timestamp"].astype(int	PROPN
faba-284	506	6	)	)	PUNCT
faba-284	506	7	51	51	NUM
faba-284	506	8	.	.	PUNCT
faba-284	507	1	df	df	PROPN
faba-284	507	2	=	=	SYM
faba-284	507	3	df.sort_values(by="timestamp	df.sort_values(by="timestamp	PROPN
faba-284	507	4	"	"	PUNCT
faba-284	507	5	)	)	PUNCT
faba-284	507	6	52	52	NUM
faba-284	507	7	.	.	PUNCT
faba-284	508	1	df["date	df["date	NOUN
faba-284	508	2	"	"	PUNCT
faba-284	508	3	]	]	X
faba-284	508	4	=	=	SYM
faba-284	508	5	pd.to_datetime(df["timestamp	pd.to_datetime(df["timestamp	PROPN
faba-284	508	6	"	"	PUNCT
faba-284	508	7	]	]	X
faba-284	508	8	,	,	PUNCT
faba-284	508	9	unit='s').dt.strftime("%d/%m/%y	unit='s').dt.strftime("%d/%m/%y	NOUN
faba-284	508	10	"	"	PUNCT
faba-284	508	11	)	)	PUNCT
faba-284	508	12	53	53	NUM
faba-284	508	13	.	.	PUNCT
faba-284	509	1	#	#	NOUN
faba-284	509	2	save	save	NOUN
faba-284	509	3	to	to	PART
faba-284	509	4	drive	drive	VERB
faba-284	509	5	54	54	NUM
faba-284	509	6	.	.	PUNCT
faba-284	510	1	output_path	output_path	NOUN
faba-284	511	1	=	=	PUNCT
faba-284	511	2	'	'	PUNCT
faba-284	511	3	/content	/content	ADJ
faba-284	511	4	/	/	SYM
faba-284	511	5	drive	drive	ADJ
faba-284	511	6	/	/	SYM
faba-284	511	7	mydrive	mydrive	ADJ
faba-284	511	8	/	/	SYM
faba-284	511	9	data	data	PROPN
faba-284	511	10	/	/	SYM
faba-284	511	11	btcusdohlcv.csv	btcusdohlcv.csv	X
faba-284	511	12	'	'	PUNCT
faba-284	511	13	55	55	NUM
faba-284	511	14	.	.	PUNCT
faba-284	511	15	df.to_csv(output_path	df.to_csv(output_path	NUM
faba-284	511	16	,	,	PUNCT
faba-284	511	17	index	index	NOUN
faba-284	511	18	=	=	NOUN
faba-284	511	19	false	false	ADJ
faba-284	511	20	)	)	PUNCT
faba-284	511	21	56	56	NUM
faba-284	511	22	.	.	NOUN
faba-284	511	23	57	57	NUM
faba-284	511	24	.	.	PUNCT
faba-284	512	1	print('end	print('end	NOUN
faba-284	512	2	of	of	ADP
faba-284	512	3	data	datum	NOUN
faba-284	512	4	fetching	fetch	VERB
faba-284	512	5	.	.	PUNCT
faba-284	513	1	saved	save	VERB
faba-284	513	2	to	to	ADP
faba-284	513	3	:	:	PUNCT
faba-284	513	4	'	'	NUM
faba-284	513	5	,	,	PUNCT
faba-284	513	6	output_path	output_path	NOUN
faba-284	513	7	)	)	PUNCT
faba-284	513	8	authors	author	NOUN
faba-284	513	9	’	’	PART
faba-284	513	10	data	datum	NOUN
faba-284	513	11	(	(	PUNCT
faba-284	513	12	google	google	PROPN
faba-284	513	13	colabs	colab	NOUN
faba-284	513	14	)	)	PUNCT
faba-284	513	15	figure	figure	NOUN
faba-284	513	16	10	10	NUM
faba-284	513	17	.	.	PUNCT
faba-284	514	1	python	python	PROPN
faba-284	514	2	script	script	NOUN
faba-284	514	3	to	to	PART
faba-284	514	4	fetch	fetch	VERB
faba-284	514	5	data	datum	NOUN
faba-284	514	6	58	58	NUM
faba-284	514	7	.	.	PUNCT
faba-284	515	1	#	#	NOUN
faba-284	515	2	script	script	NOUN
faba-284	515	3	for	for	ADP
faba-284	515	4	newey	newey	PROPN
faba-284	515	5	-	-	PUNCT
faba-284	515	6	west	west	PROPN
faba-284	515	7	hac	hac	VERB
faba-284	515	8	59	59	NUM
faba-284	515	9	.	.	PUNCT
faba-284	516	1	#	#	NOUN
faba-284	516	2	drive	drive	NOUN
faba-284	516	3	mount	mount	NOUN
faba-284	516	4	60	60	NUM
faba-284	516	5	.	.	PUNCT
faba-284	517	1	from	from	ADP
faba-284	517	2	google.colab	google.colab	PROPN
faba-284	517	3	import	import	NOUN
faba-284	517	4	drive	drive	NOUN
faba-284	517	5	61	61	NUM
faba-284	517	6	.	.	PUNCT
faba-284	518	1	drive.mount('/content	drive.mount('/content	ADJ
faba-284	518	2	/	/	SYM
faba-284	518	3	drive	drive	NOUN
faba-284	518	4	'	'	PUNCT
faba-284	518	5	)	)	PUNCT
faba-284	518	6	62	62	NUM
faba-284	518	7	.	.	PUNCT
faba-284	519	1	63	63	NUM
faba-284	519	2	.	.	PUNCT
faba-284	520	1	import	import	NOUN
faba-284	520	2	pandas	panda	NOUN
faba-284	520	3	as	as	ADP
faba-284	520	4	pd	pd	PROPN
faba-284	520	5	64	64	NUM
faba-284	520	6	.	.	PUNCT
faba-284	521	1	import	import	NOUN
faba-284	521	2	datetime	datetime	NOUN
faba-284	521	3	as	as	ADP
faba-284	521	4	dt	dt	PROPN
faba-284	521	5	65	65	NUM
faba-284	521	6	.	.	PUNCT
faba-284	522	1	import	import	NOUN
faba-284	522	2	statsmodels.api	statsmodels.api	NOUN
faba-284	522	3	as	as	ADP
faba-284	522	4	sm	sm	PROPN
faba-284	522	5	66	66	NUM
faba-284	522	6	.	.	PUNCT
faba-284	523	1	67	67	NUM
faba-284	523	2	.	.	PUNCT
faba-284	524	1	#	#	NOUN
faba-284	524	2	adjust	adjust	VERB
faba-284	524	3	path	path	NOUN
faba-284	524	4	to	to	PART
faba-284	524	5	file	file	VERB
faba-284	524	6	directory	directory	NOUN
faba-284	524	7	in	in	ADP
faba-284	524	8	drive	drive	NOUN
faba-284	524	9	68	68	NUM
faba-284	524	10	.	.	PUNCT
faba-284	525	1	excel_path	excel_path	NOUN
faba-284	525	2	=	=	PUNCT
faba-284	525	3	"	"	PUNCT
faba-284	525	4	/content	/content	ADJ
faba-284	525	5	/	/	SYM
faba-284	525	6	drive	drive	ADJ
faba-284	525	7	/	/	SYM
faba-284	525	8	mydrive	mydrive	ADJ
faba-284	525	9	/	/	SYM
faba-284	525	10	strategy	strategy	NOUN
faba-284	525	11	results	result	NOUN
faba-284	525	12	2025.xlsx	2025.xlsx	NOUN
faba-284	525	13	"	"	PUNCT
faba-284	525	14	69	69	NUM
faba-284	525	15	.	.	PUNCT
faba-284	526	1	#	#	NOUN
faba-284	526	2	load	load	NOUN
faba-284	526	3	and	and	CCONJ
faba-284	526	4	clean	clean	ADJ
faba-284	526	5	data	datum	NOUN
faba-284	526	6	70	70	NUM
faba-284	526	7	.	.	PUNCT
faba-284	527	1	raw	raw	ADJ
faba-284	527	2	=	=	NOUN
faba-284	527	3	pd.read_excel(excel_path	pd.read_excel(excel_path	NOUN
faba-284	527	4	,	,	PUNCT
faba-284	527	5	sheet_name="strat	sheet_name="strat	NOUN
faba-284	527	6	+	+	CCONJ
faba-284	527	7	acc	acc	PROPN
faba-284	527	8	ret	ret	PROPN
faba-284	527	9	"	"	PUNCT
faba-284	527	10	,	,	PUNCT
faba-284	527	11	header=2	header=2	PROPN
faba-284	527	12	)	)	PUNCT
faba-284	527	13	71	71	NUM
faba-284	527	14	.	.	PUNCT
faba-284	528	1	header_row	header_row	PROPN
faba-284	528	2	=	=	SYM
faba-284	528	3	raw.iloc[0	raw.iloc[0	NOUN
faba-284	528	4	]	]	X
faba-284	528	5	72	72	NUM
faba-284	528	6	.	.	PUNCT
faba-284	529	1	col_map	col_map	NOUN
faba-284	530	1	=	=	SYM
faba-284	530	2	{	{	PUNCT
faba-284	530	3	73	73	NUM
faba-284	530	4	.	.	PUNCT
faba-284	531	1	"	"	PUNCT
faba-284	531	2	benchmark	benchmark	NOUN
faba-284	531	3	(	(	PUNCT
faba-284	531	4	btc	btc	NOUN
faba-284	531	5	)	)	PUNCT
faba-284	531	6	"	"	PUNCT
faba-284	531	7	:	:	PUNCT
faba-284	531	8	header_row["benchmark	header_row["benchmark	NOUN
faba-284	531	9	(	(	PUNCT
faba-284	531	10	btc	btc	PROPN
faba-284	531	11	)	)	PUNCT
faba-284	531	12	"	"	PUNCT
faba-284	531	13	]	]	X
faba-284	531	14	,	,	PUNCT
faba-284	531	15	#	#	NOUN
faba-284	531	16	date	date	NOUN
faba-284	531	17	74	74	NUM
faba-284	531	18	.	.	PUNCT
faba-284	532	1	"	"	PUNCT
faba-284	532	2	unnamed	unnamed	ADJ
faba-284	532	3	:	:	PUNCT
faba-284	532	4	2	2	NUM
faba-284	532	5	"	"	PUNCT
faba-284	532	6	:	:	PUNCT
faba-284	532	7	header_row["unnamed	header_row["unname	VERB
faba-284	532	8	:	:	PUNCT
faba-284	532	9	2	2	NUM
faba-284	532	10	"	"	PUNCT
faba-284	532	11	]	]	X
faba-284	532	12	,	,	PUNCT
faba-284	532	13	#	#	NOUN
faba-284	532	14	close	close	NOUN
faba-284	532	15	75	75	NUM
faba-284	532	16	.	.	PUNCT
faba-284	533	1	"	"	PUNCT
faba-284	533	2	unnamed	unnamed	ADJ
faba-284	533	3	:	:	PUNCT
faba-284	533	4	3	3	NUM
faba-284	533	5	"	"	PUNCT
faba-284	533	6	:	:	PUNCT
faba-284	533	7	header_row["unnamed	header_row["unname	VERB
faba-284	533	8	:	:	PUNCT
faba-284	533	9	3	3	NUM
faba-284	533	10	"	"	NOUN
faba-284	533	11	]	]	X
faba-284	533	12	,	,	PUNCT
faba-284	533	13	#	#	NOUN
faba-284	533	14	open	open	ADJ
faba-284	533	15	76	76	NUM
faba-284	533	16	.	.	PUNCT
faba-284	534	1	"	"	PUNCT
faba-284	534	2	unnamed	unnamed	ADJ
faba-284	534	3	:	:	PUNCT
faba-284	534	4	4	4	NUM
faba-284	534	5	"	"	PUNCT
faba-284	534	6	:	:	PUNCT
faba-284	534	7	header_row["unnamed	header_row["unname	VERB
faba-284	534	8	:	:	PUNCT
faba-284	534	9	4	4	NUM
faba-284	534	10	"	"	NOUN
faba-284	534	11	]	]	X
faba-284	534	12	,	,	PUNCT
faba-284	534	13	#	#	NOUN
faba-284	534	14	bm	bm	NOUN
faba-284	534	15	%	%	NOUN
faba-284	534	16	77	77	NUM
faba-284	534	17	.	.	PUNCT
faba-284	535	1	"	"	PUNCT
faba-284	535	2	strategy	strategy	NOUN
faba-284	535	3	"	"	PUNCT
faba-284	535	4	:	:	PUNCT
faba-284	535	5	"	"	PUNCT
faba-284	535	6	long	long	ADV
faba-284	535	7	/	/	SYM
faba-284	535	8	sold	sell	VERB
faba-284	535	9	"	"	PUNCT
faba-284	535	10	,	,	PUNCT
faba-284	535	11	78	78	NUM
faba-284	535	12	.	.	PUNCT
faba-284	536	1	"	"	PUNCT
faba-284	536	2	unnamed	unnamed	ADJ
faba-284	536	3	:	:	PUNCT
faba-284	536	4	6	6	NUM
faba-284	536	5	"	"	PUNCT
faba-284	536	6	:	:	PUNCT
faba-284	536	7	header_row["unnamed	header_row["unname	VERB
faba-284	536	8	:	:	PUNCT
faba-284	536	9	6	6	NUM
faba-284	536	10	"	"	NOUN
faba-284	536	11	]	]	X
faba-284	536	12	,	,	PUNCT
faba-284	536	13	#	#	NOUN
faba-284	536	14	strategy	strategy	NOUN
faba-284	536	15	%	%	NOUN
faba-284	536	16	79	79	NUM
faba-284	536	17	.	.	PUNCT
faba-284	537	1	"	"	PUNCT
faba-284	537	2	unnamed	unnamed	ADJ
faba-284	537	3	:	:	PUNCT
faba-284	537	4	7	7	NUM
faba-284	537	5	"	"	PUNCT
faba-284	537	6	:	:	PUNCT
faba-284	537	7	header_row["unnamed	header_row["unname	VERB
faba-284	537	8	:	:	PUNCT
faba-284	537	9	7	7	NUM
faba-284	537	10	"	"	NOUN
faba-284	537	11	]	]	X
faba-284	537	12	,	,	PUNCT
faba-284	537	13	#	#	NOUN
faba-284	537	14	key	key	ADJ
faba-284	537	15	event	event	NOUN
faba-284	537	16	80	80	NUM
faba-284	537	17	.	.	PUNCT
faba-284	537	18	}	}	PUNCT
faba-284	538	1	81	81	NUM
faba-284	538	2	.	.	PUNCT
faba-284	539	1	df	df	PROPN
faba-284	539	2	=	=	SYM
faba-284	539	3	raw.iloc[1:].reset_index(drop	raw.iloc[1:].reset_index(drop	PROPN
faba-284	539	4	=	=	SYM
faba-284	539	5	true	true	ADJ
faba-284	539	6	)	)	PUNCT
faba-284	539	7	82	82	NUM
faba-284	539	8	.	.	PUNCT
faba-284	540	1	df	df	PROPN
faba-284	540	2	=	=	SYM
faba-284	540	3	df.rename(columns	df.rename(columns	PROPN
faba-284	540	4	=	=	SYM
faba-284	540	5	col_map	col_map	NOUN
faba-284	540	6	)	)	PUNCT
faba-284	540	7	83	83	NUM
faba-284	540	8	.	.	PUNCT
faba-284	541	1	df	df	PROPN
faba-284	541	2	=	=	SYM
faba-284	541	3	df[["date	df[["date	PROPN
faba-284	541	4	"	"	PUNCT
faba-284	541	5	,	,	PUNCT
faba-284	541	6	"	"	PUNCT
faba-284	541	7	bm	bm	PROPN
faba-284	541	8	%	%	NOUN
faba-284	541	9	"	"	PUNCT
faba-284	541	10	,	,	PUNCT
faba-284	541	11	"	"	PUNCT
faba-284	541	12	strategy	strategy	NOUN
faba-284	541	13	%	%	NOUN
faba-284	541	14	"	"	PUNCT
faba-284	541	15	]	]	X
faba-284	541	16	]	]	X
faba-284	541	17	.copy	.copy	ADP
faba-284	541	18	(	(	PUNCT
faba-284	541	19	)	)	PUNCT
faba-284	541	20	84	84	NUM
faba-284	541	21	.	.	PUNCT
faba-284	541	22	df["date	df["date	NOUN
faba-284	541	23	"	"	PUNCT
faba-284	541	24	]	]	X
faba-284	541	25	=	=	SYM
faba-284	541	26	pd.to_datetime(df["date	pd.to_datetime(df["date	NOUN
faba-284	541	27	"	"	PUNCT
faba-284	541	28	]	]	PUNCT
faba-284	541	29	)	)	PUNCT
faba-284	541	30	85	85	NUM
faba-284	541	31	.	.	PUNCT
faba-284	541	32	df["bm	df["bm	NOUN
faba-284	541	33	%	%	NOUN
faba-284	541	34	"	"	PUNCT
faba-284	541	35	]	]	X
faba-284	541	36	=	=	PUNCT
faba-284	541	37	pd.to_numeric(df["bm	pd.to_numeric(df["bm	X
faba-284	541	38	%	%	INTJ
faba-284	541	39	"	"	PUNCT
faba-284	541	40	]	]	X
faba-284	541	41	,	,	PUNCT
faba-284	541	42	errors="coerce	errors="coerce	NOUN
faba-284	541	43	"	"	PUNCT
faba-284	541	44	)	)	PUNCT
faba-284	541	45	86	86	NUM
faba-284	541	46	.	.	PUNCT
faba-284	541	47	df["strategy	df["strategy	PUNCT
faba-284	542	1	%	%	INTJ
faba-284	542	2	"	"	PUNCT
faba-284	542	3	]	]	X
faba-284	542	4	=	=	PUNCT
faba-284	542	5	pd.to_numeric(df["strategy	pd.to_numeric(df["strategy	NOUN
faba-284	542	6	%	%	NOUN
faba-284	542	7	"	"	PUNCT
faba-284	542	8	]	]	X
faba-284	542	9	,	,	PUNCT
faba-284	542	10	errors="coerce	errors="coerce	NOUN
faba-284	542	11	"	"	PUNCT
faba-284	542	12	)	)	PUNCT
faba-284	542	13	87	87	NUM
faba-284	542	14	.	.	PUNCT
faba-284	543	1	df	df	PROPN
faba-284	543	2	=	=	PUNCT
faba-284	543	3	df.dropna	df.dropna	X
faba-284	543	4	(	(	PUNCT
faba-284	543	5	)	)	PUNCT
faba-284	543	6	88	88	NUM
faba-284	543	7	.	.	PUNCT
faba-284	543	8	89	89	NUM
faba-284	543	9	.	.	PUNCT
faba-284	544	1	df["date_only	df["date_only	ADV
faba-284	544	2	"	"	PUNCT
faba-284	544	3	]	]	X
faba-284	544	4	=	=	PUNCT
faba-284	544	5	df["date"].dt.date	df["date"].dt.date	VERB
faba-284	544	6	90	90	NUM
faba-284	544	7	.	.	PUNCT
faba-284	545	1	data_start	data_start	NOUN
faba-284	545	2	=	=	SYM
faba-284	545	3	df["date_only"].min	df["date_only"].min	PROPN
faba-284	545	4	(	(	PUNCT
faba-284	545	5	)	)	PUNCT
faba-284	545	6	91	91	NUM
faba-284	545	7	.	.	PUNCT
faba-284	546	1	data_end	data_end	NUM
faba-284	546	2	=	=	SYM
faba-284	546	3	df["date_only"].max	df["date_only"].max	PROPN
faba-284	546	4	(	(	PUNCT
faba-284	546	5	)	)	PUNCT
faba-284	546	6	92	92	NUM
faba-284	546	7	.	.	PUNCT
faba-284	547	1	print("data	print("data	VERB
faba-284	547	2	from	from	ADP
faba-284	547	3	"	"	PUNCT
faba-284	547	4	,	,	PUNCT
faba-284	547	5	data_start	data_start	PROPN
faba-284	547	6	,	,	PUNCT
faba-284	547	7	"	"	PUNCT
faba-284	547	8	to	to	PART
faba-284	547	9	"	"	PUNCT
faba-284	547	10	,	,	PUNCT
faba-284	547	11	data_end	data_end	NUM
faba-284	547	12	,	,	PUNCT
faba-284	547	13	"	"	PUNCT
faba-284	547	14	rows	row	NOUN
faba-284	547	15	:	:	PUNCT
faba-284	547	16	"	"	PUNCT
faba-284	547	17	,	,	PUNCT
faba-284	547	18	len(df	len(df	NUM
faba-284	547	19	)	)	PUNCT
faba-284	547	20	)	)	PUNCT
faba-284	548	1	93	93	NUM
faba-284	548	2	.	.	PUNCT
faba-284	549	1	#	#	NOUN
faba-284	549	2	define	define	VERB
faba-284	549	3	13	13	NUM
faba-284	549	4	sampling	sampling	NOUN
faba-284	549	5	periods	period	NOUN
faba-284	549	6	(	(	PUNCT
faba-284	549	7	including	include	VERB
faba-284	549	8	2023	2023	NUM
faba-284	549	9	&	&	CCONJ
faba-284	549	10	2024	2024	NUM
faba-284	549	11	)	)	PUNCT
faba-284	549	12	94	94	NUM
faba-284	549	13	.	.	PUNCT
faba-284	550	1	period_specs	period_specs	PROPN
faba-284	550	2	=	=	PUNCT
faba-284	550	3	[	[	PUNCT
faba-284	550	4	alejandro	alejandro	PROPN
faba-284	550	5	rabinovich	rabinovich	PROPN
faba-284	550	6	/	/	SYM
faba-284	550	7	finance	finance	NOUN
faba-284	550	8	,	,	PUNCT
faba-284	550	9	accounting	accounting	NOUN
faba-284	550	10	and	and	CCONJ
faba-284	550	11	business	business	NOUN
faba-284	550	12	analysis	analysis	NOUN
faba-284	550	13	,	,	PUNCT
faba-284	550	14	volume	volume	NOUN
faba-284	550	15	7	7	NUM
faba-284	550	16	,	,	PUNCT
faba-284	550	17	issue	issue	NOUN
faba-284	550	18	2	2	NUM
faba-284	550	19	,	,	PUNCT
faba-284	550	20	2025	2025	NUM
faba-284	550	21	271	271	NUM
faba-284	550	22	95	95	NUM
faba-284	550	23	.	.	PUNCT
faba-284	551	1	(	(	PUNCT
faba-284	551	2	"	"	PUNCT
faba-284	551	3	6/2012	6/2012	PROPN
faba-284	551	4	5/2025	5/2025	NUM
faba-284	551	5	"	"	PUNCT
faba-284	551	6	,	,	PUNCT
faba-284	551	7	dt.date(2012	dt.date(2012	NOUN
faba-284	551	8	,	,	PUNCT
faba-284	551	9	6	6	NUM
faba-284	551	10	,	,	PUNCT
faba-284	551	11	1	1	NUM
faba-284	551	12	)	)	PUNCT
faba-284	551	13	)	)	PUNCT
faba-284	551	14	,	,	PUNCT
faba-284	551	15	96	96	NUM
faba-284	551	16	.	.	PUNCT
faba-284	552	1	(	(	PUNCT
faba-284	552	2	"	"	PUNCT
faba-284	552	3	6/2013	6/2013	NUM
faba-284	552	4	5/2025	5/2025	NUM
faba-284	552	5	"	"	PUNCT
faba-284	552	6	,	,	PUNCT
faba-284	552	7	dt.date(2013	dt.date(2013	PRON
faba-284	552	8	,	,	PUNCT
faba-284	552	9	6	6	NUM
faba-284	552	10	,	,	PUNCT
faba-284	552	11	1	1	NUM
faba-284	552	12	)	)	PUNCT
faba-284	552	13	)	)	PUNCT
faba-284	552	14	,	,	PUNCT
faba-284	552	15	97	97	NUM
faba-284	552	16	.	.	PUNCT
faba-284	553	1	(	(	PUNCT
faba-284	553	2	"	"	PUNCT
faba-284	553	3	6/2014	6/2014	NUM
faba-284	553	4	5/2025	5/2025	NUM
faba-284	553	5	"	"	PUNCT
faba-284	553	6	,	,	PUNCT
faba-284	553	7	dt.date(2014	dt.date(2014	NOUN
faba-284	553	8	,	,	PUNCT
faba-284	553	9	6	6	NUM
faba-284	553	10	,	,	PUNCT
faba-284	553	11	1	1	NUM
faba-284	553	12	)	)	PUNCT
faba-284	553	13	)	)	PUNCT
faba-284	553	14	,	,	PUNCT
faba-284	553	15	98	98	NUM
faba-284	553	16	.	.	PUNCT
faba-284	554	1	(	(	PUNCT
faba-284	554	2	"	"	PUNCT
faba-284	554	3	6/2015	6/2015	PROPN
faba-284	554	4	5/2025	5/2025	PROPN
faba-284	554	5	"	"	PUNCT
faba-284	554	6	,	,	PUNCT
faba-284	554	7	dt.date(2015	dt.date(2015	X
faba-284	554	8	,	,	PUNCT
faba-284	554	9	6	6	NUM
faba-284	554	10	,	,	PUNCT
faba-284	554	11	1	1	NUM
faba-284	554	12	)	)	PUNCT
faba-284	554	13	)	)	PUNCT
faba-284	554	14	,	,	PUNCT
faba-284	554	15	99	99	NUM
faba-284	554	16	.	.	PUNCT
faba-284	555	1	(	(	PUNCT
faba-284	555	2	"	"	PUNCT
faba-284	555	3	6/2016	6/2016	PROPN
faba-284	555	4	5/2025	5/2025	NUM
faba-284	555	5	"	"	PUNCT
faba-284	555	6	,	,	PUNCT
faba-284	555	7	dt.date(2016	dt.date(2016	ADJ
faba-284	555	8	,	,	PUNCT
faba-284	555	9	6	6	NUM
faba-284	555	10	,	,	PUNCT
faba-284	555	11	1	1	NUM
faba-284	555	12	)	)	PUNCT
faba-284	555	13	)	)	PUNCT
faba-284	555	14	,	,	PUNCT
faba-284	555	15	100	100	NUM
faba-284	555	16	.	.	PUNCT
faba-284	556	1	(	(	PUNCT
faba-284	556	2	"	"	PUNCT
faba-284	556	3	6/2017	6/2017	PROPN
faba-284	556	4	5/2025	5/2025	NUM
faba-284	556	5	"	"	PUNCT
faba-284	556	6	,	,	PUNCT
faba-284	556	7	dt.date(2017	dt.date(2017	NOUN
faba-284	556	8	,	,	PUNCT
faba-284	556	9	6	6	NUM
faba-284	556	10	,	,	PUNCT
faba-284	556	11	1	1	NUM
faba-284	556	12	)	)	PUNCT
faba-284	556	13	)	)	PUNCT
faba-284	556	14	,	,	PUNCT
faba-284	556	15	101	101	NUM
faba-284	556	16	.	.	PUNCT
faba-284	557	1	(	(	PUNCT
faba-284	557	2	"	"	PUNCT
faba-284	557	3	6/2018	6/2018	NUM
faba-284	557	4	5/2025	5/2025	NUM
faba-284	557	5	"	"	PUNCT
faba-284	557	6	,	,	PUNCT
faba-284	557	7	dt.date(2018	dt.date(2018	NOUN
faba-284	557	8	,	,	PUNCT
faba-284	557	9	6	6	NUM
faba-284	557	10	,	,	PUNCT
faba-284	557	11	1	1	NUM
faba-284	557	12	)	)	PUNCT
faba-284	557	13	)	)	PUNCT
faba-284	557	14	,	,	PUNCT
faba-284	557	15	102	102	NUM
faba-284	557	16	.	.	PUNCT
faba-284	558	1	(	(	PUNCT
faba-284	558	2	"	"	PUNCT
faba-284	558	3	6/2019	6/2019	NUM
faba-284	558	4	5/2025	5/2025	NUM
faba-284	558	5	"	"	PUNCT
faba-284	558	6	,	,	PUNCT
faba-284	558	7	dt.date(2019	dt.date(2019	X
faba-284	558	8	,	,	PUNCT
faba-284	558	9	6	6	NUM
faba-284	558	10	,	,	PUNCT
faba-284	558	11	1	1	NUM
faba-284	558	12	)	)	PUNCT
faba-284	558	13	)	)	PUNCT
faba-284	558	14	,	,	PUNCT
faba-284	558	15	103	103	NUM
faba-284	558	16	.	.	PUNCT
faba-284	559	1	(	(	PUNCT
faba-284	559	2	"	"	PUNCT
faba-284	559	3	6/2020	6/2020	NUM
faba-284	559	4	5/2025	5/2025	NUM
faba-284	559	5	"	"	PUNCT
faba-284	559	6	,	,	PUNCT
faba-284	559	7	dt.date(2020	dt.date(2020	X
faba-284	559	8	,	,	PUNCT
faba-284	559	9	6	6	NUM
faba-284	559	10	,	,	PUNCT
faba-284	559	11	1	1	NUM
faba-284	559	12	)	)	PUNCT
faba-284	559	13	)	)	PUNCT
faba-284	559	14	,	,	PUNCT
faba-284	559	15	104	104	NUM
faba-284	559	16	.	.	PUNCT
faba-284	560	1	(	(	PUNCT
faba-284	560	2	"	"	PUNCT
faba-284	560	3	6/2021	6/2021	NUM
faba-284	560	4	5/2025	5/2025	NUM
faba-284	560	5	"	"	PUNCT
faba-284	560	6	,	,	PUNCT
faba-284	560	7	dt.date(2021	dt.date(2021	PROPN
faba-284	560	8	,	,	PUNCT
faba-284	560	9	6	6	NUM
faba-284	560	10	,	,	PUNCT
faba-284	560	11	1	1	NUM
faba-284	560	12	)	)	PUNCT
faba-284	560	13	)	)	PUNCT
faba-284	560	14	,	,	PUNCT
faba-284	560	15	105	105	NUM
faba-284	560	16	.	.	PUNCT
faba-284	561	1	(	(	PUNCT
faba-284	561	2	"	"	PUNCT
faba-284	561	3	6/2022	6/2022	NUM
faba-284	561	4	5/2025	5/2025	NUM
faba-284	561	5	"	"	PUNCT
faba-284	561	6	,	,	PUNCT
faba-284	561	7	dt.date(2022	dt.date(2022	NOUN
faba-284	561	8	,	,	PUNCT
faba-284	561	9	6	6	NUM
faba-284	561	10	,	,	PUNCT
faba-284	561	11	1	1	NUM
faba-284	561	12	)	)	PUNCT
faba-284	561	13	)	)	PUNCT
faba-284	561	14	,	,	PUNCT
faba-284	561	15	106	106	NUM
faba-284	561	16	.	.	PUNCT
faba-284	562	1	(	(	PUNCT
faba-284	562	2	"	"	PUNCT
faba-284	562	3	6/2023	6/2023	PROPN
faba-284	562	4	5/2025	5/2025	NUM
faba-284	562	5	"	"	PUNCT
faba-284	562	6	,	,	PUNCT
faba-284	562	7	dt.date(2023	dt.date(2023	X
faba-284	562	8	,	,	PUNCT
faba-284	562	9	6	6	NUM
faba-284	562	10	,	,	PUNCT
faba-284	562	11	1	1	NUM
faba-284	562	12	)	)	PUNCT
faba-284	562	13	)	)	PUNCT
faba-284	562	14	,	,	PUNCT
faba-284	562	15	107	107	NUM
faba-284	562	16	.	.	PUNCT
faba-284	563	1	(	(	PUNCT
faba-284	563	2	"	"	PUNCT
faba-284	563	3	6/2024	6/2024	NUM
faba-284	563	4	5/2025	5/2025	NOUN
faba-284	563	5	"	"	PUNCT
faba-284	563	6	,	,	PUNCT
faba-284	563	7	dt.date(2024	dt.date(2024	ADJ
faba-284	563	8	,	,	PUNCT
faba-284	563	9	6	6	NUM
faba-284	563	10	,	,	PUNCT
faba-284	563	11	1	1	NUM
faba-284	563	12	)	)	PUNCT
faba-284	563	13	)	)	PUNCT
faba-284	563	14	,	,	PUNCT
faba-284	563	15	108	108	NUM
faba-284	563	16	.	.	PUNCT
faba-284	563	17	]	]	PUNCT
faba-284	564	1	109	109	NUM
faba-284	564	2	.	.	PUNCT
faba-284	564	3	desired_end	desired_end	NOUN
faba-284	564	4	=	=	SYM
faba-284	564	5	dt.date(2025	dt.date(2025	NOUN
faba-284	564	6	,	,	PUNCT
faba-284	564	7	5	5	NUM
faba-284	564	8	,	,	PUNCT
faba-284	564	9	31	31	NUM
faba-284	564	10	)	)	PUNCT
faba-284	564	11	110	110	NUM
faba-284	564	12	.	.	PUNCT
faba-284	565	1	period_end	period_end	NOUN
faba-284	565	2	=	=	SYM
faba-284	565	3	min(data_end	min(data_end	PROPN
faba-284	565	4	,	,	PUNCT
faba-284	565	5	desired_end	desired_end	NOUN
faba-284	565	6	)	)	PUNCT
faba-284	565	7	111	111	NUM
faba-284	565	8	.	.	PUNCT
faba-284	566	1	print("using	print("use	VERB
faba-284	566	2	period	period	NOUN
faba-284	566	3	end	end	NOUN
faba-284	566	4	:	:	PUNCT
faba-284	566	5	"	"	PUNCT
faba-284	566	6	,	,	PUNCT
faba-284	566	7	period_end	period_end	NOUN
faba-284	566	8	)	)	PUNCT
faba-284	566	9	112	112	NUM
faba-284	566	10	.	.	PUNCT
faba-284	567	1	results	result	VERB
faba-284	567	2	=	=	PUNCT
faba-284	568	1	[	[	X
faba-284	568	2	]	]	X
faba-284	568	3	113	113	NUM
faba-284	568	4	.	.	PUNCT
faba-284	568	5	#	#	NOUN
faba-284	568	6	loop	loop	NOUN
faba-284	568	7	over	over	ADP
faba-284	568	8	all	all	DET
faba-284	568	9	13	13	NUM
faba-284	568	10	periods	period	NOUN
faba-284	568	11	114	114	NUM
faba-284	568	12	.	.	PUNCT
faba-284	569	1	for	for	ADP
faba-284	569	2	label	label	NOUN
faba-284	569	3	,	,	PUNCT
faba-284	569	4	start_cal	start_cal	ADJ
faba-284	569	5	in	in	ADP
faba-284	569	6	period_specs	period_spec	NOUN
faba-284	569	7	:	:	PUNCT
faba-284	569	8	115	115	NUM
faba-284	569	9	.	.	PUNCT
faba-284	569	10	mask_after_start	mask_after_start	PROPN
faba-284	570	1	=	=	PUNCT
faba-284	570	2	df["date_only	df["date_only	ADJ
faba-284	570	3	"	"	PUNCT
faba-284	570	4	]	]	PUNCT
faba-284	570	5	>	>	PUNCT
faba-284	570	6	=	=	PUNCT
faba-284	570	7	start_cal	start_cal	ADJ
faba-284	570	8	116	116	NUM
faba-284	570	9	.	.	PUNCT
faba-284	571	1	if	if	SCONJ
faba-284	571	2	not	not	PART
faba-284	571	3	mask_after_start.any	mask_after_start.any	PROPN
faba-284	571	4	(	(	PUNCT
faba-284	571	5	):	):	PUNCT
faba-284	571	6	117	117	NUM
faba-284	571	7	.	.	PUNCT
faba-284	572	1	print(f"no	print(f"no	NOUN
faba-284	572	2	data	datum	NOUN
faba-284	572	3	for	for	ADP
faba-284	572	4	{	{	PUNCT
faba-284	572	5	label	label	NOUN
faba-284	572	6	}	}	PUNCT
faba-284	572	7	,	,	PUNCT
faba-284	572	8	skipping	skip	VERB
faba-284	572	9	.	.	PUNCT
faba-284	572	10	"	"	PUNCT
faba-284	572	11	)	)	PUNCT
faba-284	572	12	118	118	NUM
faba-284	572	13	.	.	PUNCT
faba-284	572	14	continue	continue	VERB
faba-284	572	15	119	119	NUM
faba-284	572	16	.	.	PUNCT
faba-284	573	1	120	120	NUM
faba-284	573	2	.	.	PUNCT
faba-284	574	1	actual_start	actual_start	X
faba-284	574	2	=	=	PUNCT
faba-284	574	3	df.loc[mask_after_start	df.loc[mask_after_start	PROPN
faba-284	574	4	,	,	PUNCT
faba-284	574	5	"	"	PUNCT
faba-284	574	6	date_only"].min	date_only"].min	NOUN
faba-284	574	7	(	(	PUNCT
faba-284	574	8	)	)	PUNCT
faba-284	574	9	121	121	NUM
faba-284	574	10	.	.	PUNCT
faba-284	575	1	mask	mask	NOUN
faba-284	575	2	=	=	PUNCT
faba-284	575	3	(	(	PUNCT
faba-284	575	4	df["date_only	df["date_only	ADV
faba-284	575	5	"	"	PUNCT
faba-284	575	6	]	]	PUNCT
faba-284	575	7	>	>	PUNCT
faba-284	575	8	=	=	PUNCT
faba-284	575	9	actual_start	actual_start	NUM
faba-284	575	10	)	)	PUNCT
faba-284	575	11	&	&	CCONJ
faba-284	575	12	(	(	PUNCT
faba-284	575	13	df["date_only	df["date_only	ADV
faba-284	575	14	"	"	PUNCT
faba-284	575	15	]	]	PUNCT
faba-284	576	1	<	<	X
faba-284	576	2	=	=	SYM
faba-284	576	3	period_end	period_end	NOUN
faba-284	576	4	)	)	PUNCT
faba-284	576	5	122	122	NUM
faba-284	576	6	.	.	PUNCT
faba-284	577	1	sub	sub	NOUN
faba-284	577	2	=	=	SYM
faba-284	577	3	df.loc[mask].copy	df.loc[mask].copy	NOUN
faba-284	577	4	(	(	PUNCT
faba-284	577	5	)	)	PUNCT
faba-284	577	6	123	123	NUM
faba-284	577	7	.	.	PUNCT
faba-284	578	1	n	n	NOUN
faba-284	578	2	=	=	PUNCT
faba-284	578	3	len(sub	len(sub	X
faba-284	578	4	)	)	PUNCT
faba-284	578	5	124	124	NUM
faba-284	578	6	.	.	PUNCT
faba-284	579	1	if	if	SCONJ
faba-284	579	2	n	n	PROPN
faba-284	579	3	<	<	X
faba-284	579	4	50	50	NUM
faba-284	579	5	:	:	SYM
faba-284	579	6	125	125	NUM
faba-284	579	7	.	.	PUNCT
faba-284	579	8	print(f"period	print(f"period	NOUN
faba-284	579	9	{	{	PUNCT
faba-284	579	10	label	label	NOUN
faba-284	579	11	}	}	PUNCT
faba-284	579	12	has	have	VERB
faba-284	579	13	only	only	ADV
faba-284	579	14	{	{	PUNCT
faba-284	579	15	n	n	CCONJ
faba-284	579	16	}	}	PUNCT
faba-284	579	17	rows	row	NOUN
faba-284	579	18	,	,	PUNCT
faba-284	579	19	skipping	skip	VERB
faba-284	579	20	regression	regression	NOUN
faba-284	579	21	.	.	PUNCT
faba-284	580	1	"	"	PUNCT
faba-284	580	2	)	)	PUNCT
faba-284	580	3	126	126	NUM
faba-284	580	4	.	.	PUNCT
faba-284	581	1	results.append	results.append	VERB
faba-284	581	2	(	(	PUNCT
faba-284	581	3	{	{	PUNCT
faba-284	581	4	127	127	NUM
faba-284	581	5	.	.	PUNCT
faba-284	581	6	"	"	PUNCT
faba-284	581	7	period	period	NOUN
faba-284	581	8	"	"	PUNCT
faba-284	581	9	:	:	PUNCT
faba-284	581	10	label	label	NOUN
faba-284	581	11	,	,	PUNCT
faba-284	581	12	128	128	NUM
faba-284	581	13	.	.	PUNCT
faba-284	582	1	"	"	PUNCT
faba-284	582	2	n	n	CCONJ
faba-284	582	3	"	"	PUNCT
faba-284	582	4	:	:	PUNCT
faba-284	582	5	n	n	CCONJ
faba-284	582	6	,	,	PUNCT
faba-284	582	7	129	129	NUM
faba-284	582	8	.	.	PUNCT
faba-284	583	1	"	"	PUNCT
faba-284	583	2	alpha_ols	alpha_ols	X
faba-284	583	3	"	"	PUNCT
faba-284	583	4	:	:	PUNCT
faba-284	583	5	none	none	NOUN
faba-284	583	6	,	,	PUNCT
faba-284	583	7	130	130	NUM
faba-284	583	8	.	.	PUNCT
faba-284	584	1	"	"	PUNCT
faba-284	584	2	alpha_se_ols	alpha_se_ol	NOUN
faba-284	584	3	"	"	PUNCT
faba-284	584	4	:	:	PUNCT
faba-284	584	5	none	none	NOUN
faba-284	584	6	,	,	PUNCT
faba-284	584	7	131	131	NUM
faba-284	584	8	.	.	PUNCT
faba-284	585	1	"	"	PUNCT
faba-284	585	2	alpha_t_ols	alpha_t_ol	NOUN
faba-284	585	3	"	"	PUNCT
faba-284	585	4	:	:	PUNCT
faba-284	585	5	none	none	NOUN
faba-284	585	6	,	,	PUNCT
faba-284	585	7	132	132	NUM
faba-284	585	8	.	.	PUNCT
faba-284	586	1	"	"	PUNCT
faba-284	586	2	alpha_p_ols	alpha_p_ols	PROPN
faba-284	586	3	"	"	PUNCT
faba-284	586	4	:	:	PUNCT
faba-284	586	5	none	none	NOUN
faba-284	586	6	,	,	PUNCT
faba-284	586	7	133	133	NUM
faba-284	586	8	.	.	PUNCT
faba-284	587	1	"	"	PUNCT
faba-284	587	2	alpha_hac	alpha_hac	NOUN
faba-284	587	3	"	"	PUNCT
faba-284	587	4	:	:	PUNCT
faba-284	587	5	none	none	NOUN
faba-284	587	6	,	,	PUNCT
faba-284	587	7	134	134	NUM
faba-284	587	8	.	.	PUNCT
faba-284	587	9	"	"	PUNCT
faba-284	587	10	alpha_se_hac	alpha_se_hac	VERB
faba-284	587	11	"	"	PUNCT
faba-284	587	12	:	:	PUNCT
faba-284	587	13	none	none	NOUN
faba-284	587	14	,	,	PUNCT
faba-284	587	15	135	135	NUM
faba-284	587	16	.	.	PUNCT
faba-284	587	17	"	"	PUNCT
faba-284	587	18	alpha_t_hac	alpha_t_hac	VERB
faba-284	587	19	"	"	PUNCT
faba-284	587	20	:	:	PUNCT
faba-284	587	21	none	none	NOUN
faba-284	587	22	,	,	PUNCT
faba-284	587	23	136	136	NUM
faba-284	587	24	.	.	PUNCT
faba-284	588	1	"	"	PUNCT
faba-284	588	2	alpha_p_hac	alpha_p_hac	X
faba-284	588	3	"	"	PUNCT
faba-284	588	4	:	:	PUNCT
faba-284	588	5	none	none	NOUN
faba-284	588	6	,	,	PUNCT
faba-284	588	7	137	137	NUM
faba-284	588	8	.	.	PUNCT
faba-284	588	9	}	}	PUNCT
faba-284	588	10	)	)	PUNCT
faba-284	588	11	138	138	NUM
faba-284	588	12	.	.	PUNCT
faba-284	588	13	continue	continue	VERB
faba-284	588	14	139	139	NUM
faba-284	588	15	.	.	PUNCT
faba-284	589	1	140	140	NUM
faba-284	589	2	.	.	PUNCT
faba-284	590	1	y	y	NOUN
faba-284	590	2	=	=	PUNCT
faba-284	590	3	sub["strategy	sub["strategy	PROPN
faba-284	590	4	%	%	NOUN
faba-284	590	5	"	"	PUNCT
faba-284	590	6	]	]	X
faba-284	590	7	141	141	NUM
faba-284	590	8	.	.	PUNCT
faba-284	590	9	x	x	X
faba-284	591	1	=	=	PUNCT
faba-284	591	2	sm.add_constant(sub["bm	sm.add_constant(sub["bm	NOUN
faba-284	591	3	%	%	NOUN
faba-284	591	4	"	"	PUNCT
faba-284	591	5	]	]	PUNCT
faba-284	591	6	)	)	PUNCT
faba-284	591	7	142	142	NUM
faba-284	591	8	.	.	PUNCT
faba-284	592	1	ols	ol	NOUN
faba-284	592	2	=	=	PUNCT
faba-284	592	3	sm.ols(y	sm.ols(y	PROPN
faba-284	592	4	,	,	PUNCT
faba-284	592	5	x).fit	x).fit	PROPN
faba-284	592	6	(	(	PUNCT
faba-284	592	7	)	)	PUNCT
faba-284	592	8	alejandro	alejandro	PROPN
faba-284	592	9	rabinovich	rabinovich	PROPN
faba-284	592	10	/	/	SYM
faba-284	592	11	finance	finance	NOUN
faba-284	592	12	,	,	PUNCT
faba-284	592	13	accounting	accounting	NOUN
faba-284	592	14	and	and	CCONJ
faba-284	592	15	business	business	NOUN
faba-284	592	16	analysis	analysis	NOUN
faba-284	592	17	,	,	PUNCT
faba-284	592	18	volume	volume	NOUN
faba-284	592	19	7	7	NUM
faba-284	592	20	,	,	PUNCT
faba-284	592	21	issue	issue	NOUN
faba-284	592	22	2	2	NUM
faba-284	592	23	,	,	PUNCT
faba-284	592	24	2025	2025	NUM
faba-284	592	25	272	272	NUM
faba-284	592	26	143	143	NUM
faba-284	592	27	.	.	PUNCT
faba-284	593	1	maxlags	maxlag	NOUN
faba-284	593	2	=	=	PUNCT
faba-284	594	1	int(n	int(n	PROPN
faba-284	594	2	*	*	PUNCT
faba-284	594	3	*	*	NOUN
faba-284	594	4	0.5	0.5	NUM
faba-284	594	5	)	)	PUNCT
faba-284	594	6	144	144	NUM
faba-284	594	7	.	.	PUNCT
faba-284	595	1	hac	hac	X
faba-284	595	2	=	=	PUNCT
faba-284	596	1	ols.get_robustcov_results(cov_type="hac	ols.get_robustcov_results(cov_type="hac	X
faba-284	596	2	"	"	PUNCT
faba-284	596	3	,	,	PUNCT
faba-284	596	4	maxlags	maxlag	NOUN
faba-284	596	5	=	=	NOUN
faba-284	596	6	maxlags	maxlag	NOUN
faba-284	596	7	)	)	PUNCT
faba-284	596	8	145	145	NUM
faba-284	596	9	.	.	PUNCT
faba-284	597	1	results.append	results.append	VERB
faba-284	597	2	(	(	PUNCT
faba-284	597	3	{	{	PUNCT
faba-284	597	4	146	146	NUM
faba-284	597	5	.	.	PUNCT
faba-284	597	6	"	"	PUNCT
faba-284	597	7	period	period	NOUN
faba-284	597	8	"	"	PUNCT
faba-284	597	9	:	:	PUNCT
faba-284	597	10	label	label	NOUN
faba-284	597	11	,	,	PUNCT
faba-284	597	12	147	147	NUM
faba-284	597	13	.	.	PUNCT
faba-284	598	1	"	"	PUNCT
faba-284	598	2	n	n	CCONJ
faba-284	598	3	"	"	PUNCT
faba-284	598	4	:	:	PUNCT
faba-284	598	5	n	n	CCONJ
faba-284	598	6	,	,	PUNCT
faba-284	598	7	148	148	NUM
faba-284	598	8	.	.	PUNCT
faba-284	598	9	"	"	PUNCT
faba-284	598	10	alpha_ols	alpha_ols	X
faba-284	598	11	"	"	PUNCT
faba-284	598	12	:	:	PUNCT
faba-284	598	13	float(ols.params[0	float(ols.params[0	PROPN
faba-284	598	14	]	]	X
faba-284	598	15	)	)	PUNCT
faba-284	598	16	,	,	PUNCT
faba-284	598	17	149	149	NUM
faba-284	598	18	.	.	PUNCT
faba-284	599	1	"	"	PUNCT
faba-284	599	2	alpha_se_ols	alpha_se_ol	NOUN
faba-284	599	3	"	"	PUNCT
faba-284	599	4	:	:	PUNCT
faba-284	599	5	float(ols.bse[0	float(ols.bse[0	NOUN
faba-284	599	6	]	]	NOUN
faba-284	599	7	)	)	PUNCT
faba-284	599	8	,	,	PUNCT
faba-284	599	9	150	150	NUM
faba-284	599	10	.	.	PUNCT
faba-284	600	1	"	"	PUNCT
faba-284	600	2	alpha_t_ols	alpha_t_ol	NOUN
faba-284	600	3	"	"	PUNCT
faba-284	600	4	:	:	PUNCT
faba-284	600	5	float(ols.tvalues[0	float(ols.tvalues[0	NOUN
faba-284	600	6	]	]	X
faba-284	600	7	)	)	PUNCT
faba-284	600	8	,	,	PUNCT
faba-284	600	9	151	151	NUM
faba-284	600	10	.	.	PUNCT
faba-284	600	11	"	"	PUNCT
faba-284	600	12	alpha_p_ols	alpha_p_ols	PROPN
faba-284	600	13	"	"	PUNCT
faba-284	600	14	:	:	PUNCT
faba-284	600	15	float(ols.pvalues[0	float(ols.pvalues[0	X
faba-284	600	16	]	]	PUNCT
faba-284	600	17	)	)	PUNCT
faba-284	600	18	,	,	PUNCT
faba-284	600	19	152	152	NUM
faba-284	600	20	.	.	PUNCT
faba-284	601	1	"	"	PUNCT
faba-284	601	2	alpha_hac	alpha_hac	NOUN
faba-284	601	3	"	"	PUNCT
faba-284	601	4	:	:	PUNCT
faba-284	601	5	float(hac.params[0	float(hac.params[0	X
faba-284	601	6	]	]	PUNCT
faba-284	601	7	)	)	PUNCT
faba-284	601	8	,	,	PUNCT
faba-284	601	9	153	153	NUM
faba-284	601	10	.	.	PUNCT
faba-284	601	11	"	"	PUNCT
faba-284	601	12	alpha_se_hac	alpha_se_hac	VERB
faba-284	601	13	"	"	PUNCT
faba-284	601	14	:	:	PUNCT
faba-284	601	15	float(hac.bse[0	float(hac.bse[0	NOUN
faba-284	601	16	]	]	PUNCT
faba-284	601	17	)	)	PUNCT
faba-284	601	18	,	,	PUNCT
faba-284	601	19	154	154	NUM
faba-284	601	20	.	.	PUNCT
faba-284	602	1	"	"	PUNCT
faba-284	602	2	alpha_t_hac	alpha_t_hac	VERB
faba-284	602	3	"	"	PUNCT
faba-284	602	4	:	:	PUNCT
faba-284	602	5	float(hac.tvalues[0	float(hac.tvalues[0	NOUN
faba-284	602	6	]	]	X
faba-284	602	7	)	)	PUNCT
faba-284	602	8	,	,	PUNCT
faba-284	602	9	155	155	NUM
faba-284	602	10	.	.	PUNCT
faba-284	602	11	"	"	PUNCT
faba-284	602	12	alpha_p_hac	alpha_p_hac	X
faba-284	602	13	"	"	PUNCT
faba-284	602	14	:	:	PUNCT
faba-284	602	15	float(hac.pvalues[0	float(hac.pvalues[0	ADJ
faba-284	602	16	]	]	X
faba-284	602	17	)	)	PUNCT
faba-284	602	18	,	,	PUNCT
faba-284	602	19	156	156	NUM
faba-284	602	20	.	.	PUNCT
faba-284	602	21	}	}	PUNCT
faba-284	602	22	)	)	PUNCT
faba-284	603	1	157	157	NUM
faba-284	603	2	.	.	PUNCT
faba-284	604	1	#	#	NOUN
faba-284	604	2	collect	collect	NOUN
faba-284	604	3	&	&	CCONJ
faba-284	604	4	save	save	VERB
faba-284	604	5	158	158	NUM
faba-284	604	6	.	.	PUNCT
faba-284	604	7	res_df	res_df	PUNCT
faba-284	605	1	=	=	NOUN
faba-284	605	2	pd.dataframe(results	pd.dataframe(result	NOUN
faba-284	605	3	)	)	PUNCT
faba-284	605	4	159	159	NUM
faba-284	605	5	.	.	PUNCT
faba-284	605	6	res_df	res_df	PUNCT
faba-284	606	1	=	=	SYM
faba-284	606	2	res_df	res_df	PROPN
faba-284	606	3	[	[	PUNCT
faba-284	606	4	160	160	NUM
faba-284	606	5	.	.	PUNCT
faba-284	607	1	[	[	PUNCT
faba-284	607	2	161	161	NUM
faba-284	607	3	.	.	PUNCT
faba-284	607	4	"	"	PUNCT
faba-284	607	5	period	period	NOUN
faba-284	607	6	"	"	PUNCT
faba-284	607	7	,	,	PUNCT
faba-284	607	8	162	162	NUM
faba-284	607	9	.	.	PUNCT
faba-284	608	1	"	"	PUNCT
faba-284	608	2	n	n	CCONJ
faba-284	608	3	"	"	PUNCT
faba-284	608	4	,	,	PUNCT
faba-284	608	5	163	163	NUM
faba-284	608	6	.	.	PUNCT
faba-284	609	1	"	"	PUNCT
faba-284	609	2	alpha_ols	alpha_ols	X
faba-284	609	3	"	"	PUNCT
faba-284	609	4	,	,	PUNCT
faba-284	609	5	164	164	NUM
faba-284	609	6	.	.	PUNCT
faba-284	610	1	"	"	PUNCT
faba-284	610	2	alpha_se_ols	alpha_se_ol	NOUN
faba-284	610	3	"	"	PUNCT
faba-284	610	4	,	,	PUNCT
faba-284	610	5	165	165	NUM
faba-284	610	6	.	.	PUNCT
faba-284	611	1	"	"	PUNCT
faba-284	611	2	alpha_t_ols	alpha_t_ol	NOUN
faba-284	611	3	"	"	PUNCT
faba-284	611	4	,	,	PUNCT
faba-284	611	5	166	166	NUM
faba-284	611	6	.	.	PUNCT
faba-284	612	1	"	"	PUNCT
faba-284	612	2	alpha_p_ols	alpha_p_ols	PROPN
faba-284	612	3	"	"	PUNCT
faba-284	612	4	,	,	PUNCT
faba-284	612	5	167	167	NUM
faba-284	612	6	.	.	PUNCT
faba-284	613	1	"	"	PUNCT
faba-284	613	2	alpha_hac	alpha_hac	NOUN
faba-284	613	3	"	"	PUNCT
faba-284	613	4	,	,	PUNCT
faba-284	613	5	168	168	NUM
faba-284	613	6	.	.	PUNCT
faba-284	614	1	"	"	PUNCT
faba-284	614	2	alpha_se_hac	alpha_se_hac	VERB
faba-284	614	3	"	"	PUNCT
faba-284	614	4	,	,	PUNCT
faba-284	614	5	169	169	NUM
faba-284	614	6	.	.	PUNCT
faba-284	615	1	"	"	PUNCT
faba-284	615	2	alpha_t_hac	alpha_t_hac	VERB
faba-284	615	3	"	"	PUNCT
faba-284	615	4	,	,	PUNCT
faba-284	615	5	170	170	NUM
faba-284	615	6	.	.	PUNCT
faba-284	616	1	"	"	PUNCT
faba-284	616	2	alpha_p_hac	alpha_p_hac	X
faba-284	616	3	"	"	PUNCT
faba-284	616	4	,	,	PUNCT
faba-284	616	5	171	171	NUM
faba-284	616	6	.	.	PUNCT
faba-284	616	7	]	]	PUNCT
faba-284	617	1	172	172	X
faba-284	617	2	.	.	PUNCT
faba-284	617	3	]	]	PUNCT
faba-284	618	1	173	173	X
faba-284	618	2	.	.	PUNCT
faba-284	618	3	res_rounded	res_rounde	VERB
faba-284	618	4	=	=	PUNCT
faba-284	619	1	res_df.round	res_df.round	PROPN
faba-284	619	2	(	(	PUNCT
faba-284	619	3	174	174	NUM
faba-284	619	4	.	.	PUNCT
faba-284	620	1	{	{	PUNCT
faba-284	620	2	175	175	NUM
faba-284	620	3	.	.	PUNCT
faba-284	620	4	"	"	PUNCT
faba-284	620	5	alpha_ols	alpha_ols	X
faba-284	620	6	"	"	PUNCT
faba-284	620	7	:	:	PUNCT
faba-284	620	8	8	8	NUM
faba-284	620	9	,	,	PUNCT
faba-284	620	10	176	176	NUM
faba-284	620	11	.	.	PUNCT
faba-284	621	1	"	"	PUNCT
faba-284	621	2	alpha_se_ols	alpha_se_ol	NOUN
faba-284	621	3	"	"	PUNCT
faba-284	621	4	:	:	PUNCT
faba-284	621	5	8	8	NUM
faba-284	621	6	,	,	PUNCT
faba-284	621	7	177	177	NUM
faba-284	621	8	.	.	PUNCT
faba-284	622	1	"	"	PUNCT
faba-284	622	2	alpha_t_ols	alpha_t_ol	NOUN
faba-284	622	3	"	"	PUNCT
faba-284	622	4	:	:	PUNCT
faba-284	622	5	5	5	NUM
faba-284	622	6	,	,	PUNCT
faba-284	622	7	178	178	NUM
faba-284	622	8	.	.	PUNCT
faba-284	623	1	"	"	PUNCT
faba-284	623	2	alpha_p_ols	alpha_p_ols	PROPN
faba-284	623	3	"	"	PUNCT
faba-284	623	4	:	:	PUNCT
faba-284	623	5	8	8	NUM
faba-284	623	6	,	,	PUNCT
faba-284	623	7	179	179	NUM
faba-284	623	8	.	.	PUNCT
faba-284	624	1	"	"	PUNCT
faba-284	624	2	alpha_hac	alpha_hac	NOUN
faba-284	624	3	"	"	PUNCT
faba-284	624	4	:	:	PUNCT
faba-284	624	5	8	8	NUM
faba-284	624	6	,	,	PUNCT
faba-284	624	7	180	180	NUM
faba-284	624	8	.	.	PUNCT
faba-284	624	9	"	"	PUNCT
faba-284	624	10	alpha_se_hac	alpha_se_hac	VERB
faba-284	624	11	"	"	PUNCT
faba-284	624	12	:	:	PUNCT
faba-284	624	13	8	8	NUM
faba-284	624	14	,	,	PUNCT
faba-284	624	15	181	181	NUM
faba-284	624	16	.	.	PUNCT
faba-284	625	1	"	"	PUNCT
faba-284	625	2	alpha_t_hac	alpha_t_hac	VERB
faba-284	625	3	"	"	PUNCT
faba-284	625	4	:	:	PUNCT
faba-284	625	5	5	5	NUM
faba-284	625	6	,	,	PUNCT
faba-284	625	7	182	182	NUM
faba-284	625	8	.	.	PUNCT
faba-284	626	1	"	"	PUNCT
faba-284	626	2	alpha_p_hac	alpha_p_hac	X
faba-284	626	3	"	"	PUNCT
faba-284	626	4	:	:	PUNCT
faba-284	626	5	8	8	NUM
faba-284	626	6	,	,	PUNCT
faba-284	626	7	183	183	NUM
faba-284	626	8	.	.	PUNCT
faba-284	626	9	}	}	PUNCT
faba-284	626	10	184	184	NUM
faba-284	626	11	.	.	PUNCT
faba-284	626	12	)	)	PUNCT
faba-284	627	1	185	185	NUM
faba-284	627	2	.	.	PUNCT
faba-284	628	1	print(res_rounded.to_string(index	print(res_rounded.to_string(index	NOUN
faba-284	628	2	=	=	NOUN
faba-284	628	3	false	false	ADJ
faba-284	628	4	)	)	PUNCT
faba-284	628	5	)	)	PUNCT
faba-284	629	1	186	186	NUM
faba-284	629	2	.	.	PUNCT
faba-284	629	3	out_path	out_path	NOUN
faba-284	629	4	=	=	PRON
faba-284	629	5	"	"	PUNCT
faba-284	629	6	/content	/content	ADJ
faba-284	629	7	/	/	SYM
faba-284	629	8	drive	drive	ADJ
faba-284	629	9	/	/	SYM
faba-284	629	10	mydrive	mydrive	ADJ
faba-284	629	11	/	/	SYM
faba-284	629	12	hac_alpha_results_13_periods.csv	hac_alpha_results_13_periods.csv	NOUN
faba-284	629	13	"	"	PUNCT
faba-284	629	14	187	187	NUM
faba-284	629	15	.	.	PUNCT
faba-284	630	1	res_rounded.to_csv(out_path	res_rounded.to_csv(out_path	PROPN
faba-284	630	2	,	,	PUNCT
faba-284	630	3	index	index	NOUN
faba-284	630	4	=	=	NOUN
faba-284	630	5	false	false	ADJ
faba-284	630	6	)	)	PUNCT
faba-284	630	7	188	188	NUM
faba-284	630	8	.	.	PUNCT
faba-284	631	1	print("saved	print("save	VERB
faba-284	631	2	results	result	NOUN
faba-284	631	3	to	to	PART
faba-284	631	4	:	:	PUNCT
faba-284	631	5	"	"	PUNCT
faba-284	631	6	,	,	PUNCT
faba-284	631	7	out_path	out_path	NOUN
faba-284	631	8	)	)	PUNCT
faba-284	631	9	source	source	NOUN
faba-284	631	10	:	:	PUNCT
faba-284	631	11	authors	author	NOUN
faba-284	631	12	’	’	PART
faba-284	631	13	data	datum	NOUN
faba-284	631	14	(	(	PUNCT
faba-284	631	15	google	google	PROPN
faba-284	631	16	colabs	colab	NOUN
faba-284	631	17	)	)	PUNCT
faba-284	631	18	figure	figure	NOUN
faba-284	631	19	11	11	NUM
faba-284	631	20	.	.	PUNCT
faba-284	632	1	python	python	PROPN
faba-284	632	2	script	script	NOUN
faba-284	632	3	for	for	ADP
faba-284	632	4	hac	hac	PROPN
faba-284	632	5	test	test	NOUN
faba-284	632	6	alejandro	alejandro	PROPN
faba-284	632	7	rabinovich	rabinovich	PROPN
faba-284	632	8	/	/	SYM
faba-284	632	9	finance	finance	NOUN
faba-284	632	10	,	,	PUNCT
faba-284	632	11	accounting	accounting	NOUN
faba-284	632	12	and	and	CCONJ
faba-284	632	13	business	business	NOUN
faba-284	632	14	analysis	analysis	NOUN
faba-284	632	15	,	,	PUNCT
faba-284	632	16	volume	volume	NOUN
faba-284	632	17	7	7	NUM
faba-284	632	18	,	,	PUNCT
faba-284	632	19	issue	issue	NOUN
faba-284	632	20	2	2	NUM
faba-284	632	21	,	,	PUNCT
faba-284	632	22	2025	2025	NUM
faba-284	632	23	273	273	NUM
faba-284	632	24	table	table	NOUN
faba-284	632	25	5	5	NUM
faba-284	632	26	.	.	X
faba-284	633	1	newey	newey	PROPN
faba-284	633	2	–	–	PUNCT
faba-284	633	3	west	west	PROPN
faba-284	633	4	hac	hac	PROPN
faba-284	633	5	regression	regression	NOUN
faba-284	633	6	results	result	NOUN
faba-284	633	7	by	by	ADP
faba-284	633	8	sample	sample	NOUN
faba-284	633	9	window	window	NOUN
faba-284	633	10	period	period	NOUN
faba-284	633	11	n	n	PROPN
faba-284	633	12	α	α	PROPN
faba-284	633	13	(	(	PUNCT
faba-284	633	14	ols	ols	PROPN
faba-284	633	15	)	)	PUNCT
faba-284	633	16	se	se	X
faba-284	633	17	(	(	PUNCT
faba-284	633	18	ols	ols	PROPN
faba-284	633	19	)	)	PUNCT
faba-284	633	20	t	t	PROPN
faba-284	633	21	(	(	PUNCT
faba-284	633	22	ols	ols	PROPN
faba-284	633	23	)	)	PUNCT
faba-284	633	24	p	p	X
faba-284	633	25	(	(	PUNCT
faba-284	633	26	ols	ols	PROPN
faba-284	633	27	)	)	PUNCT
faba-284	633	28	α	α	PROPN
faba-284	633	29	(	(	PUNCT
faba-284	633	30	hac	hac	PROPN
faba-284	633	31	)	)	PUNCT
faba-284	633	32	se	se	X
faba-284	633	33	(	(	PUNCT
faba-284	633	34	hac	hac	PROPN
faba-284	633	35	)	)	PUNCT
faba-284	633	36	t	t	PROPN
faba-284	633	37	(	(	PUNCT
faba-284	633	38	hac	hac	PROPN
faba-284	633	39	)	)	PUNCT
faba-284	633	40	p	p	X
faba-284	633	41	(	(	PUNCT
faba-284	633	42	hac	hac	PROPN
faba-284	633	43	)	)	PUNCT
faba-284	633	44	6/2012–5/2025	6/2012–5/2025	NOUN
faba-284	633	45	4717	4717	NUM
faba-284	634	1	0.00175	0.00175	NUM
faba-284	634	2	0.00030	0.00030	NUM
faba-284	634	3	5.851	5.851	NUM
faba-284	634	4	1.00×10⁻⁸	1.00×10⁻⁸	NUM
faba-284	634	5	0.00175	0.00175	NUM
faba-284	634	6	4.1×10⁻⁴	4.1×10⁻⁴	NUM
faba-284	634	7	4.267	4.267	NUM
faba-284	634	8	2.00×10⁻⁵	2.00×10⁻⁵	NUM
faba-284	634	9	6/2013–5/2025	6/2013–5/2025	NUM
faba-284	634	10	4362	4362	NUM
faba-284	635	1	0.00149	0.00149	NUM
faba-284	635	2	0.00029	0.00029	NUM
faba-284	635	3	5.155	5.155	NUM
faba-284	635	4	2.60×10⁻⁷	2.60×10⁻⁷	NUM
faba-284	635	5	0.00149	0.00149	NUM
faba-284	635	6	3.5×10⁻⁴	3.5×10⁻⁴	NUM
faba-284	635	7	4.228	4.228	NUM
faba-284	635	8	2.40×10⁻⁵	2.40×10⁻⁵	NUM
faba-284	635	9	6/2014–5/2025	6/2014–5/2025	NUM
faba-284	635	10	3997	3997	NUM
faba-284	635	11	0.00128	0.00128	NUM
faba-284	635	12	0.00027	0.00027	NUM
faba-284	636	1	4.750	4.750	NUM
faba-284	636	2	2.11×10⁻⁶	2.11×10⁻⁶	NUM
faba-284	636	3	0.00128	0.00128	NUM
faba-284	636	4	3.1×10⁻⁴	3.1×10⁻⁴	NUM
faba-284	636	5	4.117	4.117	NUM
faba-284	636	6	3.90×10⁻⁵	3.90×10⁻⁵	NUM
faba-284	636	7	6/2015–5/2025	6/2015–5/2025	NUM
faba-284	636	8	3632	3632	NUM
faba-284	636	9	0.00122	0.00122	NUM
faba-284	636	10	0.00027	0.00027	NUM
faba-284	636	11	4.492	4.492	NUM
faba-284	636	12	7.28×10⁻⁶	7.28×10⁻⁶	NUM
faba-284	636	13	0.00122	0.00122	NUM
faba-284	636	14	3.3×10⁻⁴	3.3×10⁻⁴	NUM
faba-284	636	15	3.595	3.595	NUM
faba-284	636	16	3.29×10⁻⁴	3.29×10⁻⁴	NUM
faba-284	636	17	6/2016–5/2025	6/2016–5/2025	NUM
faba-284	636	18	3266	3266	NUM
faba-284	636	19	0.00131	0.00131	NUM
faba-284	636	20	0.00030	0.00030	NUM
faba-284	636	21	4.404	4.404	NUM
faba-284	636	22	1.10×10⁻⁵	1.10×10⁻⁵	NUM
faba-284	636	23	0.00131	0.00131	NUM
faba-284	636	24	3.6×10⁻⁴	3.6×10⁻⁴	NUM
faba-284	636	25	3.641	3.641	NUM
faba-284	636	26	2.76×10⁻⁴	2.76×10⁻⁴	NUM
faba-284	636	27	6/2017–5/2025	6/2017–5/2025	NOUN
faba-284	636	28	2901	2901	NUM
faba-284	636	29	0.00135	0.00135	NUM
faba-284	637	1	0.00033	0.00033	NUM
faba-284	637	2	4.112	4.112	NUM
faba-284	637	3	4.03×10⁻⁵	4.03×10⁻⁵	NUM
faba-284	637	4	0.00135	0.00135	NUM
faba-284	637	5	3.7×10⁻⁴	3.7×10⁻⁴	NUM
faba-284	637	6	3.585	3.585	NUM
faba-284	637	7	3.42×10⁻⁴	3.42×10⁻⁴	NUM
faba-284	637	8	6/2018–5/2025	6/2018–5/2025	NUM
faba-284	637	9	2536	2536	NUM
faba-284	637	10	0.00097	0.00097	NUM
faba-284	637	11	0.00031	0.00031	NUM
faba-284	637	12	3.144	3.144	NUM
faba-284	637	13	1.69×10⁻³	1.69×10⁻³	NUM
faba-284	637	14	0.00097	0.00097	NUM
faba-284	637	15	3.4×10⁻⁴	3.4×10⁻⁴	NUM
faba-284	637	16	2.838	2.838	NUM
faba-284	637	17	4.57×10⁻³	4.57×10⁻³	NUM
faba-284	638	1	6/2019–5/2025	6/2019–5/2025	NUM
faba-284	638	2	2171	2171	NUM
faba-284	638	3	0.00075	0.00075	NUM
faba-284	638	4	0.00031	0.00031	NUM
faba-284	638	5	2.426	2.426	NUM
faba-284	638	6	1.53×10⁻²	1.53×10⁻²	NUM
faba-284	638	7	0.00075	0.00075	NUM
faba-284	638	8	3.5×10⁻⁴	3.5×10⁻⁴	NUM
faba-284	638	9	2.132	2.132	NUM
faba-284	638	10	3.31×10⁻²	3.31×10⁻²	NUM
faba-284	638	11	6/2020–5/2025	6/2020–5/2025	NUM
faba-284	638	12	1805	1805	NUM
faba-284	638	13	0.00102	0.00102	NUM
faba-284	638	14	0.00035	0.00035	NUM
faba-284	638	15	2.922	2.922	NUM
faba-284	638	16	3.52×10⁻³	3.52×10⁻³	NUM
faba-284	638	17	0.00102	0.00102	NUM
faba-284	638	18	3.9×10⁻⁴	3.9×10⁻⁴	NUM
faba-284	638	19	2.602	2.602	NUM
faba-284	638	20	9.35×10⁻³	9.35×10⁻³	NUM
faba-284	638	21	6/2021–5/2025	6/2021–5/2025	NUM
faba-284	638	22	1440	1440	NUM
faba-284	638	23	0.00067	0.00067	NUM
faba-284	638	24	0.00038	0.00038	NUM
faba-284	638	25	1.772	1.772	NUM
faba-284	638	26	7.66×10⁻²	7.66×10⁻²	NUM
faba-284	638	27	0.00067	0.00067	NUM
faba-284	638	28	3.7×10⁻⁴	3.7×10⁻⁴	NUM
faba-284	638	29	1.768	1.768	NUM
faba-284	638	30	7.73×10⁻²	7.73×10⁻²	NUM
faba-284	638	31	6/2022–5/2025	6/2022–5/2025	NUM
faba-284	638	32	1075	1075	NUM
faba-284	638	33	0.00062	0.00062	NUM
faba-284	638	34	0.00030	0.00030	NUM
faba-284	638	35	2.062	2.062	NUM
faba-284	638	36	3.95×10⁻²	3.95×10⁻²	NUM
faba-284	638	37	0.00062	0.00062	NUM
faba-284	638	38	4.3×10⁻⁴	4.3×10⁻⁴	NUM
faba-284	638	39	1.402	1.402	NUM
faba-284	638	40	1.61×10⁻¹	1.61×10⁻¹	NUM
faba-284	638	41	source	source	NOUN
faba-284	638	42	:	:	PUNCT
faba-284	638	43	authors	author	NOUN
faba-284	638	44	’	’	PART
faba-284	638	45	data	datum	NOUN
faba-284	638	46	note	note	NOUN
faba-284	638	47	:	:	PUNCT
faba-284	638	48	rows	row	NOUN
faba-284	638	49	for	for	ADP
faba-284	638	50	6/2023–5/2025	6/2023–5/2025	NUM
faba-284	638	51	and	and	CCONJ
faba-284	638	52	6/2024–5/2025	6/2024–5/2025	NUM
faba-284	638	53	are	be	AUX
faba-284	638	54	omitted	omit	VERB
faba-284	638	55	from	from	ADP
faba-284	638	56	this	this	DET
faba-284	638	57	hac	hac	NOUN
faba-284	638	58	table	table	NOUN
faba-284	638	59	because	because	SCONJ
faba-284	638	60	,	,	PUNCT
faba-284	638	61	in	in	ADP
faba-284	638	62	those	those	DET
faba-284	638	63	short	short	ADJ
faba-284	638	64	subsamples	subsample	NOUN
faba-284	638	65	,	,	PUNCT
faba-284	638	66	the	the	DET
faba-284	638	67	strategy	strategy	NOUN
faba-284	638	68	and	and	CCONJ
faba-284	638	69	benchmark	benchmark	NOUN
faba-284	638	70	returns	return	NOUN
faba-284	638	71	are	be	AUX
faba-284	638	72	nearly	nearly	ADV
faba-284	638	73	collinear	collinear	ADJ
faba-284	638	74	and	and	CCONJ
faba-284	638	75	the	the	DET
faba-284	638	76	regression	regression	NOUN
faba-284	638	77	becomes	become	VERB
faba-284	638	78	numerically	numerically	ADV
faba-284	638	79	ill	ill	ADV
faba-284	638	80	-	-	PUNCT
faba-284	638	81	conditioned	condition	VERB
faba-284	638	82	.	.	PUNCT
faba-284	639	1	the	the	DET
faba-284	639	2	corresponding	correspond	VERB
faba-284	639	3	ols	ol	NOUN
faba-284	639	4	coefficients	coefficient	NOUN
faba-284	639	5	and	and	CCONJ
faba-284	639	6	test	test	NOUN
faba-284	639	7	statistics	statistic	NOUN
faba-284	639	8	are	be	AUX
faba-284	639	9	nevertheless	nevertheless	ADV
faba-284	639	10	reported	report	VERB
faba-284	639	11	in	in	ADP
faba-284	639	12	table	table	NOUN
faba-284	639	13	1	1	NUM
faba-284	639	14	for	for	ADP
faba-284	639	15	completeness	completeness	NOUN
faba-284	639	16	.	.	PUNCT
faba-284	640	1	table	table	NOUN
faba-284	640	2	6	6	NUM
faba-284	640	3	.	.	PUNCT
faba-284	641	1	walk	walk	VERB
faba-284	641	2	-	-	PUNCT
faba-284	641	3	forward	forward	ADV
faba-284	641	4	out	out	ADP
faba-284	641	5	-	-	PUNCT
faba-284	641	6	of	of	ADP
faba-284	641	7	-	-	PUNCT
faba-284	641	8	sample	sample	NOUN
faba-284	641	9	performance	performance	NOUN
faba-284	641	10	(	(	PUNCT
faba-284	641	11	3	3	NUM
faba-284	641	12	-	-	PUNCT
faba-284	641	13	year	year	NOUN
faba-284	641	14	train	train	NOUN
faba-284	641	15	/	/	SYM
faba-284	641	16	1	1	NUM
faba-284	641	17	-	-	PUNCT
faba-284	641	18	year	year	NOUN
faba-284	641	19	test	test	NOUN
faba-284	641	20	,	,	PUNCT
faba-284	641	21	june	june	PROPN
faba-284	641	22	–	–	PUNCT
faba-284	641	23	may	may	PROPN
faba-284	641	24	years	year	NOUN
faba-284	641	25	)	)	PUNCT
faba-284	641	26	train	train	NOUN
faba-284	641	27	start	start	NOUN
faba-284	641	28	train	train	NOUN
faba-284	641	29	end	end	NOUN
faba-284	641	30	test	test	NOUN
faba-284	641	31	year	year	PROPN
faba-284	641	32	n_test	n_t	ADJ
faba-284	641	33	test	test	NOUN
faba-284	641	34	cumulative	cumulative	ADJ
faba-284	641	35	return	return	NOUN
faba-284	641	36	(	(	PUNCT
faba-284	641	37	strategy	strategy	NOUN
faba-284	641	38	)	)	PUNCT
faba-284	641	39	test	test	NOUN
faba-284	641	40	cumulative	cumulative	ADJ
faba-284	641	41	return	return	NOUN
faba-284	641	42	(	(	PUNCT
faba-284	641	43	bm	bm	NOUN
faba-284	641	44	)	)	PUNCT
faba-284	641	45	test	test	NOUN
faba-284	641	46	annualized	annualize	VERB
faba-284	641	47	return	return	NOUN
faba-284	641	48	(	(	PUNCT
faba-284	641	49	strategy	strategy	NOUN
faba-284	641	50	)	)	PUNCT
faba-284	641	51	test	test	NOUN
faba-284	641	52	annualized	annualize	VERB
faba-284	641	53	return	return	NOUN
faba-284	641	54	(	(	PUNCT
faba-284	641	55	bm	bm	PROPN
faba-284	641	56	)	)	PUNCT
faba-284	641	57	2012	2012	NUM
faba-284	641	58	2014	2014	NUM
faba-284	641	59	2015	2015	NUM
faba-284	641	60	366	366	NUM
faba-284	641	61	1.311	1.311	NUM
faba-284	641	62	1.311	1.311	NUM
faba-284	641	63	0.780	0.780	NUM
faba-284	641	64	0.780	0.780	NUM
faba-284	641	65	2013	2013	NUM
faba-284	641	66	2015	2015	NUM
faba-284	641	67	2016	2016	NUM
faba-284	641	68	365	365	NUM
faba-284	641	69	3.598	3.598	NUM
faba-284	641	70	3.598	3.598	NUM
faba-284	641	71	1.867	1.867	NUM
faba-284	641	72	1.867	1.867	NUM
faba-284	641	73	2014	2014	NUM
faba-284	641	74	2016	2016	NUM
faba-284	641	75	2017	2017	NUM
faba-284	641	76	365	365	NUM
faba-284	641	77	7.614	7.614	NUM
faba-284	641	78	2.367	2.367	NUM
faba-284	641	79	3.423	3.423	NUM
faba-284	641	80	1.312	1.312	NUM
faba-284	641	81	2015	2015	NUM
faba-284	641	82	2017	2017	NUM
faba-284	641	83	2018	2018	NUM
faba-284	641	84	365	365	NUM
faba-284	641	85	1.232	1.232	NUM
faba-284	641	86	0.169	0.169	NUM
faba-284	641	87	0.741	0.741	NUM
faba-284	641	88	0.114	0.114	NUM
faba-284	641	89	2016	2016	NUM
faba-284	641	90	2018	2018	NUM
faba-284	641	91	2019	2019	NUM
faba-284	641	92	366	366	NUM
faba-284	641	93	0.032	0.032	NUM
faba-284	641	94	0.032	0.032	NUM
faba-284	641	95	0.022	0.022	NUM
faba-284	641	96	0.022	0.022	NUM
faba-284	641	97	2017	2017	NUM
faba-284	641	98	2019	2019	NUM
faba-284	641	99	2020	2020	NUM
faba-284	641	100	365	365	NUM
faba-284	641	101	5.323	5.323	NUM
faba-284	641	102	2.942	2.942	NUM
faba-284	641	103	2.573	2.573	NUM
faba-284	641	104	1.578	1.578	NUM
faba-284	641	105	2018	2018	NUM
faba-284	641	106	2020	2020	NUM
faba-284	641	107	2021	2021	NUM
faba-284	641	108	365	365	NUM
faba-284	641	109	-0.036	-0.036	NOUN
faba-284	641	110	-0.134	-0.134	PUNCT
faba-284	641	111	-0.025	-0.025	NOUN
faba-284	641	112	-0.094	-0.094	VERB
faba-284	641	113	2019	2019	NUM
faba-284	641	114	2021	2021	NUM
faba-284	641	115	2022	2022	NUM
faba-284	641	116	365	365	NUM
faba-284	641	117	0.381	0.381	NUM
faba-284	641	118	-0.147	-0.147	NUM
faba-284	641	119	0.250	0.250	NUM
faba-284	641	120	-0.104	-0.104	NOUN
faba-284	641	121	2020	2020	NUM
faba-284	641	122	2022	2022	NUM
faba-284	641	123	2023	2023	NUM
faba-284	641	124	366	366	NUM
faba-284	641	125	1.498	1.498	NUM
faba-284	641	126	1.498	1.498	NUM
faba-284	641	127	0.878	0.878	NUM
faba-284	641	128	0.878	0.878	NUM
faba-284	641	129	2021	2021	NUM
faba-284	641	130	2023	2023	NUM
faba-284	641	131	2024	2024	NUM
faba-284	641	132	344	344	NUM
faba-284	641	133	0.550	0.550	NUM
faba-284	641	134	0.550	0.550	NUM
faba-284	641	135	0.379	0.379	NUM
faba-284	641	136	0.379	0.379	NUM
faba-284	641	137	mean	mean	ADJ
faba-284	641	138	test	test	NOUN
faba-284	641	139	annualized	annualize	VERB
faba-284	641	140	return	return	NOUN
faba-284	641	141	(	(	PUNCT
faba-284	641	142	strategy	strategy	NOUN
faba-284	641	143	)	)	PUNCT
faba-284	641	144	=	=	SYM
faba-284	641	145	1.088	1.088	NUM
faba-284	641	146	mean	mean	VERB
faba-284	641	147	test	test	NOUN
faba-284	641	148	annualized	annualize	VERB
faba-284	641	149	return	return	NOUN
faba-284	641	150	(	(	PUNCT
faba-284	641	151	benchmark	benchmark	NOUN
faba-284	641	152	)	)	PUNCT
faba-284	641	153	=	=	SYM
faba-284	641	154	0.673	0.673	NUM
faba-284	641	155	share	share	NOUN
faba-284	641	156	of	of	ADP
faba-284	641	157	positive	positive	ADJ
faba-284	641	158	test	test	NOUN
faba-284	641	159	years	year	NOUN
faba-284	641	160	(	(	PUNCT
faba-284	641	161	strategy	strategy	NOUN
faba-284	641	162	)	)	PUNCT
faba-284	641	163	=	=	SYM
faba-284	641	164	9/10	9/10	NUM
faba-284	641	165	share	share	NOUN
faba-284	641	166	of	of	ADP
faba-284	641	167	positive	positive	ADJ
faba-284	641	168	test	test	NOUN
faba-284	641	169	years	year	NOUN
faba-284	641	170	(	(	PUNCT
faba-284	641	171	benchmark	benchmark	NOUN
faba-284	641	172	)	)	PUNCT
faba-284	641	173	=	=	SYM
faba-284	641	174	8/10	8/10	NUM
faba-284	641	175	source	source	NOUN
faba-284	641	176	:	:	PUNCT
faba-284	641	177	authors	author	NOUN
faba-284	641	178	’	’	PART
faba-284	641	179	data	datum	NOUN
faba-284	641	180	table	table	NOUN
faba-284	641	181	7	7	NUM
faba-284	641	182	below	below	ADV
faba-284	641	183	shows	show	VERB
faba-284	641	184	all	all	DET
faba-284	641	185	the	the	DET
faba-284	641	186	buy	buy	NOUN
faba-284	641	187	and	and	CCONJ
faba-284	641	188	sell	sell	VERB
faba-284	641	189	signals	signal	NOUN
faba-284	641	190	,	,	PUNCT
faba-284	641	191	defined	define	VERB
faba-284	641	192	by	by	ADP
faba-284	641	193	the	the	DET
faba-284	641	194	strategy	strategy	NOUN
faba-284	641	195	.	.	PUNCT
faba-284	642	1	note	note	VERB
faba-284	642	2	that	that	SCONJ
faba-284	642	3	on	on	ADP
faba-284	642	4	the	the	DET
faba-284	642	5	sell	sell	NOUN
faba-284	642	6	signals	signal	NOUN
faba-284	642	7	,	,	PUNCT
faba-284	642	8	the	the	DET
faba-284	642	9	long	long	ADV
faba-284	642	10	/	/	PUNCT
faba-284	642	11	sold	sell	VERB
faba-284	642	12	is	be	AUX
faba-284	642	13	also	also	ADV
faba-284	642	14	1	1	NUM
faba-284	642	15	,	,	PUNCT
faba-284	642	16	that	that	PRON
faba-284	642	17	is	be	AUX
faba-284	642	18	due	due	ADJ
faba-284	642	19	to	to	ADP
faba-284	642	20	the	the	DET
faba-284	642	21	signal	signal	NOUN
faba-284	642	22	confirming	confirm	VERB
faba-284	642	23	on	on	ADP
faba-284	642	24	the	the	DET
faba-284	642	25	trading	trading	NOUN
faba-284	642	26	day	day	NOUN
faba-284	642	27	end	end	NOUN
faba-284	642	28	,	,	PUNCT
faba-284	642	29	executing	execute	VERB
faba-284	642	30	the	the	DET
faba-284	642	31	sell	sell	NOUN
faba-284	642	32	signal	signal	NOUN
faba-284	642	33	on	on	ADP
faba-284	642	34	the	the	DET
faba-284	642	35	following	following	ADJ
faba-284	642	36	day	day	NOUN
faba-284	642	37	open	open	ADJ
faba-284	642	38	.	.	PUNCT
faba-284	643	1	alejandro	alejandro	PROPN
faba-284	643	2	rabinovich	rabinovich	PROPN
faba-284	643	3	/	/	SYM
faba-284	643	4	finance	finance	NOUN
faba-284	643	5	,	,	PUNCT
faba-284	643	6	accounting	accounting	NOUN
faba-284	643	7	and	and	CCONJ
faba-284	643	8	business	business	NOUN
faba-284	643	9	analysis	analysis	NOUN
faba-284	643	10	,	,	PUNCT
faba-284	643	11	volume	volume	NOUN
faba-284	643	12	7	7	NUM
faba-284	643	13	,	,	PUNCT
faba-284	643	14	issue	issue	NOUN
faba-284	643	15	2	2	NUM
faba-284	643	16	,	,	PUNCT
faba-284	643	17	2025	2025	NUM
faba-284	643	18	274	274	NUM
faba-284	643	19	table	table	NOUN
faba-284	643	20	7	7	NUM
faba-284	643	21	.	.	PUNCT
faba-284	643	22	buy	buy	VERB
faba-284	643	23	and	and	CCONJ
faba-284	643	24	sell	sell	VERB
faba-284	643	25	signals	signal	NOUN
faba-284	643	26	benchmark	benchmark	NOUN
faba-284	643	27	+	+	CCONJ
faba-284	643	28	strategy	strategy	NOUN
faba-284	643	29	returns	return	NOUN
faba-284	643	30	benchmark	benchmark	NOUN
faba-284	643	31	(	(	PUNCT
faba-284	643	32	btc	btc	ADJ
faba-284	643	33	)	)	PUNCT
faba-284	643	34	strategy	strategy	NOUN
faba-284	643	35	date	date	NOUN
faba-284	643	36	close	close	ADJ
faba-284	643	37	open	open	ADJ
faba-284	643	38	bm	bm	NOUN
faba-284	643	39	%	%	NOUN
faba-284	643	40	long	long	ADV
faba-284	643	41	/	/	PUNCT
faba-284	643	42	sold	sell	VERB
faba-284	643	43	strategy	strategy	NOUN
faba-284	643	44	%	%	NOUN
faba-284	643	45	key	key	ADJ
faba-284	643	46	event	event	NOUN
faba-284	643	47	11/6/2012	11/6/2012	NUM
faba-284	643	48	5.5	5.5	NUM
faba-284	643	49	5.5	5.5	NUM
faba-284	643	50	0.73	0.73	NUM
faba-284	643	51	%	%	NOUN
faba-284	643	52	1	1	NUM
faba-284	643	53	0.73	0.73	NUM
faba-284	643	54	%	%	NOUN
faba-284	643	55	bull	bull	PROPN
faba-284	643	56	mkt	mkt	PROPN
faba-284	643	57	crossover	crossover	ADP
faba-284	643	58	5/4/2013	5/4/2013	NUM
faba-284	643	59	141.8	141.8	NUM
faba-284	643	60	134.7	134.7	NUM
faba-284	643	61	5.29	5.29	NUM
faba-284	643	62	%	%	NOUN
faba-284	643	63	1	1	NUM
faba-284	643	64	5.29	5.29	NUM
faba-284	643	65	%	%	NOUN
faba-284	643	66	pi	pi	NOUN
faba-284	643	67	cycle	cycle	NOUN
faba-284	643	68	top	top	NOUN
faba-284	643	69	2/9/2013	2/9/2013	NUM
faba-284	643	70	130.2	130.2	NUM
faba-284	643	71	130.7	130.7	NUM
faba-284	643	72	-0.38	-0.38	NUM
faba-284	643	73	%	%	NOUN
faba-284	643	74	1	1	NUM
faba-284	643	75	-0.38	-0.38	NOUN
faba-284	643	76	%	%	NOUN
faba-284	643	77	bull	bull	PROPN
faba-284	643	78	mkt	mkt	PROPN
faba-284	643	79	crossover	crossover	ADP
faba-284	643	80	5/12/2013	5/12/2013	NUM
faba-284	643	81	1,023.9	1,023.9	NUM
faba-284	643	82	1,135.0	1,135.0	NUM
faba-284	643	83	-9.79	-9.79	NUM
faba-284	643	84	%	%	NOUN
faba-284	643	85	1	1	NUM
faba-284	643	86	-9.79	-9.79	NUM
faba-284	643	87	%	%	NOUN
faba-284	643	88	pi	pi	NOUN
faba-284	643	89	cycle	cycle	NOUN
faba-284	643	90	top	top	ADJ
faba-284	643	91	9/6/2014	9/6/2014	NUM
faba-284	643	92	648.8	648.8	NUM
faba-284	643	93	658.0	658.0	NUM
faba-284	643	94	-1.39	-1.39	NUM
faba-284	643	95	%	%	NOUN
faba-284	643	96	1	1	NUM
faba-284	643	97	-1.39	-1.39	NUM
faba-284	643	98	%	%	NOUN
faba-284	643	99	bull	bull	PROPN
faba-284	643	100	mkt	mkt	PROPN
faba-284	643	101	crossover	crossover	ADP
faba-284	643	102	17/8/2014	17/8/2014	NUM
faba-284	643	103	496.9	496.9	NUM
faba-284	643	104	523.5	523.5	NUM
faba-284	643	105	-5.08	-5.08	NOUN
faba-284	643	106	%	%	NOUN
faba-284	643	107	1	1	NUM
faba-284	643	108	-5.08	-5.08	NOUN
faba-284	643	109	%	%	NOUN
faba-284	643	110	bull	bull	PROPN
faba-284	643	111	mkt	mkt	PROPN
faba-284	643	112	crossunder	crossunder	PROPN
faba-284	643	113	9/2/2015	9/2/2015	PROPN
faba-284	643	114	220.9	220.9	NUM
faba-284	643	115	223.9	223.9	NUM
faba-284	643	116	-1.35	-1.35	NUM
faba-284	643	117	%	%	NOUN
faba-284	643	118	1	1	NUM
faba-284	643	119	-1.35	-1.35	NOUN
faba-284	643	120	%	%	NOUN
faba-284	643	121	rsi	rsi	NOUN
faba-284	643	122	bottom	bottom	NOUN
faba-284	643	123	16/12/2017	16/12/2017	NUM
faba-284	643	124	19,187.8	19,187.8	NOUN
faba-284	643	125	17,478.0	17,478.0	NOUN
faba-284	643	126	9.78	9.78	NUM
faba-284	643	127	%	%	NOUN
faba-284	643	128	1	1	NUM
faba-284	643	129	9.78	9.78	NUM
faba-284	643	130	%	%	NOUN
faba-284	643	131	pi	pi	NOUN
faba-284	643	132	cycle	cycle	NOUN
faba-284	643	133	top	top	NOUN
faba-284	643	134	31/12/2018	31/12/2018	NUM
faba-284	643	135	3,693.3	3,693.3	NUM
faba-284	643	136	3,831.0	3,831.0	NUM
faba-284	643	137	-3.60	-3.60	NUM
faba-284	643	138	%	%	NOUN
faba-284	643	139	1	1	NUM
faba-284	643	140	-3.60	-3.60	NUM
faba-284	643	141	%	%	NOUN
faba-284	643	142	rsi	rsi	NOUN
faba-284	643	143	bottom	bottom	NOUN
faba-284	643	144	12/4/2021	12/4/2021	NUM
faba-284	643	145	59,831.7	59,831.7	NUM
faba-284	643	146	59,972.3	59,972.3	NOUN
faba-284	643	147	-0.23	-0.23	NUM
faba-284	643	148	%	%	NOUN
faba-284	643	149	1	1	NUM
faba-284	643	150	-0.23	-0.23	NUM
faba-284	643	151	%	%	NOUN
faba-284	643	152	pi	pi	NOUN
faba-284	643	153	cycle	cycle	NOUN
faba-284	643	154	top	top	VERB
faba-284	643	155	16/8/2021	16/8/2021	NUM
faba-284	643	156	45,930.5	45,930.5	NUM
faba-284	643	157	47,025.0	47,025.0	NOUN
faba-284	643	158	-2.33	-2.33	NOUN
faba-284	643	159	%	%	NOUN
faba-284	643	160	1	1	NUM
faba-284	643	161	-2.33	-2.33	NUM
faba-284	643	162	%	%	NOUN
faba-284	643	163	bull	bull	PROPN
faba-284	643	164	mkt	mkt	PROPN
faba-284	643	165	crossover	crossover	ADP
faba-284	643	166	5/12/2021	5/12/2021	NUM
faba-284	643	167	49,463.2	49,463.2	NOUN
faba-284	643	168	49,240.8	49,240.8	NUM
faba-284	643	169	0.45	0.45	NUM
faba-284	643	170	%	%	NOUN
faba-284	643	171	1	1	NUM
faba-284	643	172	0.45	0.45	NUM
faba-284	643	173	%	%	NOUN
faba-284	643	174	bull	bull	PROPN
faba-284	643	175	mkt	mkt	PROPN
faba-284	643	176	crossunder	crossunder	PROPN
faba-284	643	177	4/4/2022	4/4/2022	PROPN
faba-284	643	178	46,598.2	46,598.2	NOUN
faba-284	643	179	46,414.9	46,414.9	NOUN
faba-284	643	180	0.39	0.39	NUM
faba-284	643	181	%	%	NOUN
faba-284	643	182	1	1	NUM
faba-284	643	183	0.39	0.39	NUM
faba-284	643	184	%	%	NOUN
faba-284	643	185	bull	bull	PROPN
faba-284	643	186	mkt	mkt	PROPN
faba-284	643	187	crossover	crossover	ADP
faba-284	643	188	10/4/2022	10/4/2022	NUM
faba-284	643	189	42,133.9	42,133.9	NUM
faba-284	643	190	42,774.9	42,774.9	NUM
faba-284	643	191	-1.50	-1.50	NUM
faba-284	643	192	%	%	NOUN
faba-284	643	193	1	1	NUM
faba-284	643	194	-1.50	-1.50	NUM
faba-284	643	195	%	%	NOUN
faba-284	643	196	bull	bull	PROPN
faba-284	643	197	mkt	mkt	PROPN
faba-284	643	198	crossunder	crossunder	PROPN
faba-284	643	199	29/8/2022	29/8/2022	PROPN
faba-284	643	200	20,302.0	20,302.0	NUM
faba-284	643	201	19,571.0	19,571.0	NUM
faba-284	643	202	3.74	3.74	NUM
faba-284	643	203	%	%	NOUN
faba-284	643	204	1	1	NUM
faba-284	643	205	3.74	3.74	NUM
faba-284	643	206	%	%	NOUN
faba-284	643	207	rsi	rsi	NOUN
faba-284	643	208	bottom	bottom	NOUN
faba-284	643	209	10/5/2025	10/5/2025	NUM
faba-284	643	210	104,809.0	104,809.0	NUM
faba-284	643	211	102,992.0	102,992.0	NUM
faba-284	643	212	1.76	1.76	NUM
faba-284	643	213	%	%	NOUN
faba-284	643	214	1	1	NUM
faba-284	643	215	1.76	1.76	NUM
faba-284	643	216	%	%	NOUN
faba-284	643	217	dataset	dataset	NOUN
faba-284	643	218	end	end	NOUN
faba-284	643	219	source	source	NOUN
faba-284	643	220	:	:	PUNCT
faba-284	643	221	authors	author	NOUN
faba-284	643	222	’	’	PART
faba-284	643	223	data	datum	NOUN
faba-284	643	224	table	table	NOUN
faba-284	643	225	8	8	NUM
faba-284	643	226	.	.	PUNCT
faba-284	644	1	regression	regression	NOUN
faba-284	644	2	results	result	NOUN
faba-284	644	3	for	for	ADP
faba-284	644	4	the	the	DET
faba-284	644	5	period	period	NOUN
faba-284	644	6	june	june	PROPN
faba-284	644	7	2012	2012	NUM
faba-284	644	8	–	–	PUNCT
faba-284	644	9	may	may	AUX
faba-284	644	10	2025	2025	NUM
faba-284	644	11	regression	regression	VERB
faba-284	644	12	statistics	statistic	NOUN
faba-284	644	13	multiple	multiple	ADJ
faba-284	644	14	r	r	NOUN
faba-284	644	15	0.7534	0.7534	NUM
faba-284	644	16	r	r	NOUN
faba-284	644	17	square	square	NOUN
faba-284	644	18	0.5676	0.5676	NUM
faba-284	644	19	adjusted	adjust	VERB
faba-284	644	20	r	r	NOUN
faba-284	644	21	square	square	NOUN
faba-284	644	22	0.5675	0.5675	NUM
faba-284	644	23	standard	standard	ADJ
faba-284	644	24	error	error	NOUN
faba-284	644	25	0.0205	0.0205	NUM
faba-284	644	26	observations	observation	NOUN
faba-284	644	27	4717	4717	NUM
faba-284	644	28	anova	anova	PROPN
faba-284	644	29	6/2012	6/2012	NUM
faba-284	644	30	10/5/2025	10/5/2025	NUM
faba-284	644	31	df	df	PROPN
faba-284	644	32	ss	ss	PROPN
faba-284	645	1	ms	ms	PROPN
faba-284	645	2	f	f	PROPN
faba-284	645	3	significance	significance	NOUN
faba-284	645	4	f	f	PROPN
faba-284	645	5	regression	regression	VERB
faba-284	645	6	1	1	NUM
faba-284	645	7	2.590723	2.590723	NUM
faba-284	645	8	2.590723	2.590723	NUM
faba-284	645	9	6188.022	6188.022	NUM
faba-284	645	10	0	0	NUM
faba-284	645	11	residual	residual	ADJ
faba-284	645	12	4715	4715	NUM
faba-284	645	13	1.974017	1.974017	NUM
faba-284	645	14	0.000419	0.000419	NUM
faba-284	645	15	total	total	ADJ
faba-284	645	16	4716	4716	NUM
faba-284	645	17	4.564739	4.564739	NUM
faba-284	645	18	coefficients	coefficient	NOUN
faba-284	645	19	standard	standard	ADJ
faba-284	645	20	error	error	NOUN
faba-284	645	21	t	t	NOUN
faba-284	645	22	stat	stat	NOUN
faba-284	645	23	p	p	NOUN
faba-284	645	24	-	-	PUNCT
faba-284	645	25	value	value	NOUN
faba-284	645	26	lower	low	ADJ
faba-284	645	27	95	95	NUM
faba-284	645	28	%	%	NOUN
faba-284	645	29	upper	upper	ADJ
faba-284	645	30	95	95	NUM
faba-284	645	31	%	%	NOUN
faba-284	645	32	lower	low	ADJ
faba-284	645	33	95.0	95.0	NUM
faba-284	645	34	%	%	NOUN
faba-284	645	35	upper	upper	ADJ
faba-284	645	36	95.0	95.0	NUM
faba-284	645	37	%	%	NOUN
faba-284	645	38	intercept	intercept	NOUN
faba-284	645	39	0.00175	0.00175	NUM
faba-284	645	40	0.00030	0.00030	NUM
faba-284	645	41	5.85111	5.85111	NUM
faba-284	645	42	5.2133e-09	5.2133e-09	NUM
faba-284	645	43	0.00116	0.00116	NUM
faba-284	645	44	0.00233	0.00233	NUM
faba-284	645	45	0.00116	0.00116	NUM
faba-284	645	46	0.00233	0.00233	NUM
faba-284	645	47	x	x	SYM
faba-284	645	48	variable	variable	ADJ
faba-284	645	49	1	1	NUM
faba-284	645	50	0.56662	0.56662	NUM
faba-284	645	51	0.00720	0.00720	NUM
faba-284	645	52	78.66	78.66	NUM
faba-284	645	53	0	0	NUM
faba-284	645	54	0.55250	0.55250	NUM
faba-284	645	55	0.58074	0.58074	NUM
faba-284	645	56	0.55250	0.55250	NUM
faba-284	645	57	0.58074	0.58074	NUM
faba-284	645	58	source	source	NOUN
faba-284	645	59	:	:	PUNCT
faba-284	645	60	authors	author	NOUN
faba-284	645	61	’	’	PART
faba-284	645	62	data	data	PROPN
faba-284	645	63	alejandro	alejandro	PROPN
faba-284	645	64	rabinovich	rabinovich	PROPN
faba-284	645	65	/	/	SYM
faba-284	645	66	finance	finance	NOUN
faba-284	645	67	,	,	PUNCT
faba-284	645	68	accounting	accounting	NOUN
faba-284	645	69	and	and	CCONJ
faba-284	645	70	business	business	NOUN
faba-284	645	71	analysis	analysis	NOUN
faba-284	645	72	,	,	PUNCT
faba-284	645	73	volume	volume	NOUN
faba-284	645	74	7	7	NUM
faba-284	645	75	,	,	PUNCT
faba-284	645	76	issue	issue	NOUN
faba-284	645	77	2	2	NUM
faba-284	645	78	,	,	PUNCT
faba-284	645	79	2025	2025	NUM
faba-284	645	80	275	275	NUM
faba-284	645	81	table	table	NOUN
faba-284	645	82	9	9	NUM
faba-284	645	83	.	.	PUNCT
faba-284	646	1	regression	regression	NOUN
faba-284	646	2	results	result	NOUN
faba-284	646	3	for	for	ADP
faba-284	646	4	the	the	DET
faba-284	646	5	period	period	NOUN
faba-284	646	6	june	june	PROPN
faba-284	646	7	2013	2013	NUM
faba-284	646	8	–	–	PUNCT
faba-284	646	9	may	may	AUX
faba-284	646	10	2025	2025	NUM
faba-284	646	11	regression	regression	VERB
faba-284	646	12	statistics	statistic	NOUN
faba-284	646	13	multiple	multiple	ADJ
faba-284	646	14	r	r	NOUN
faba-284	646	15	0.7822	0.7822	NUM
faba-284	646	16	r	r	NOUN
faba-284	646	17	square	square	NOUN
faba-284	646	18	0.6118	0.6118	NUM
faba-284	646	19	adjusted	adjust	VERB
faba-284	646	20	r	r	NOUN
faba-284	646	21	square	square	ADJ
faba-284	646	22	0.6117	0.6117	NUM
faba-284	646	23	standard	standard	ADJ
faba-284	646	24	error	error	NOUN
faba-284	646	25	0.0190	0.0190	NUM
faba-284	646	26	observations	observation	NOUN
faba-284	646	27	4362	4362	NUM
faba-284	646	28	anova	anova	PROPN
faba-284	646	29	1/6/2013	1/6/2013	NUM
faba-284	646	30	10/5/2025	10/5/2025	NUM
faba-284	646	31	df	df	PROPN
faba-284	646	32	ss	ss	PROPN
faba-284	647	1	ms	ms	PROPN
faba-284	647	2	f	f	PROPN
faba-284	647	3	significance	significance	NOUN
faba-284	647	4	f	f	PROPN
faba-284	647	5	regression	regression	VERB
faba-284	647	6	1	1	NUM
faba-284	647	7	2.479121	2.479121	NUM
faba-284	647	8	2.479121	2.479121	NUM
faba-284	647	9	6870.217	6870.217	NUM
faba-284	647	10	0	0	NUM
faba-284	647	11	residual	residual	ADJ
faba-284	647	12	4360	4360	NUM
faba-284	647	13	1.573308	1.573308	NUM
faba-284	647	14	0.000361	0.000361	NUM
faba-284	647	15	total	total	ADJ
faba-284	647	16	4361	4361	NUM
faba-284	647	17	4.052428	4.052428	NUM
faba-284	647	18	coefficients	coefficient	NOUN
faba-284	647	19	standard	standard	ADJ
faba-284	647	20	error	error	NOUN
faba-284	647	21	t	t	NOUN
faba-284	647	22	stat	stat	NOUN
faba-284	647	23	p	p	NOUN
faba-284	647	24	-	-	PUNCT
faba-284	647	25	value	value	NOUN
faba-284	647	26	lower	low	ADJ
faba-284	647	27	95	95	NUM
faba-284	647	28	%	%	NOUN
faba-284	647	29	upper	upper	ADJ
faba-284	647	30	95	95	NUM
faba-284	647	31	%	%	NOUN
faba-284	647	32	lower	low	ADJ
faba-284	647	33	95.0	95.0	NUM
faba-284	647	34	%	%	NOUN
faba-284	647	35	upper	upper	ADJ
faba-284	647	36	95.0	95.0	NUM
faba-284	647	37	%	%	NOUN
faba-284	647	38	intercept	intercept	VERB
faba-284	647	39	0.00149	0.00149	NUM
faba-284	647	40	0.00029	0.00029	NUM
faba-284	647	41	5.15492	5.15492	NUM
faba-284	647	42	2.64976e-07	2.64976e-07	NUM
faba-284	647	43	0.00092	0.00092	NUM
faba-284	647	44	0.00205	0.00205	NUM
faba-284	647	45	0.00092	0.00092	NUM
faba-284	647	46	0.00205	0.00205	NUM
faba-284	647	47	x	x	SYM
faba-284	647	48	variable	variable	ADJ
faba-284	647	49	1	1	NUM
faba-284	647	50	0.61064	0.61064	NUM
faba-284	647	51	0.00737	0.00737	NUM
faba-284	647	52	82.89	82.89	NUM
faba-284	647	53	0	0	NUM
faba-284	647	54	0.59620	0.59620	NUM
faba-284	647	55	0.62509	0.62509	NUM
faba-284	647	56	0.59620	0.59620	NUM
faba-284	647	57	0.62509	0.62509	NUM
faba-284	647	58	source	source	NOUN
faba-284	647	59	:	:	PUNCT
faba-284	647	60	authors	author	NOUN
faba-284	647	61	’	’	PART
faba-284	647	62	data	datum	NOUN
faba-284	647	63	table	table	NOUN
faba-284	647	64	10	10	NUM
faba-284	647	65	.	.	PUNCT
faba-284	648	1	regression	regression	NOUN
faba-284	648	2	results	result	NOUN
faba-284	648	3	for	for	ADP
faba-284	648	4	the	the	DET
faba-284	648	5	period	period	NOUN
faba-284	648	6	june	june	PROPN
faba-284	648	7	2014	2014	NUM
faba-284	648	8	–	–	PUNCT
faba-284	648	9	may	may	AUX
faba-284	648	10	2025	2025	NUM
faba-284	648	11	regression	regression	VERB
faba-284	648	12	statistics	statistic	NOUN
faba-284	648	13	multiple	multiple	ADJ
faba-284	648	14	r	r	NOUN
faba-284	648	15	0.8199	0.8199	NUM
faba-284	648	16	r	r	NOUN
faba-284	648	17	square	square	ADJ
faba-284	648	18	0.6723	0.6723	NUM
faba-284	648	19	adjusted	adjust	VERB
faba-284	648	20	r	r	NOUN
faba-284	648	21	square	square	ADJ
faba-284	648	22	0.6722	0.6722	NUM
faba-284	648	23	standard	standard	ADJ
faba-284	648	24	error	error	NOUN
faba-284	648	25	0.0170	0.0170	NUM
faba-284	648	26	observations	observation	NOUN
faba-284	648	27	3997	3997	NUM
faba-284	648	28	anova	anova	PROPN
faba-284	648	29	1/6/2014	1/6/2014	NUM
faba-284	648	30	10/5/2025	10/5/2025	NUM
faba-284	648	31	df	df	PROPN
faba-284	648	32	ss	ss	PROPN
faba-284	649	1	ms	ms	PROPN
faba-284	649	2	f	f	PROPN
faba-284	649	3	significance	significance	NOUN
faba-284	649	4	f	f	PROPN
faba-284	649	5	regression	regression	VERB
faba-284	649	6	1	1	NUM
faba-284	649	7	2.360475	2.360475	NUM
faba-284	649	8	2.360475	2.360475	NUM
faba-284	649	9	8195.721	8195.721	SYM
faba-284	649	10	0	0	NUM
faba-284	649	11	residual	residual	ADJ
faba-284	649	12	3995	3995	NUM
faba-284	649	13	1.150612	1.150612	NUM
faba-284	649	14	0.000288	0.000288	NUM
faba-284	649	15	total	total	ADJ
faba-284	649	16	3996	3996	NUM
faba-284	649	17	3.511087	3.511087	NUM
faba-284	649	18	coefficients	coefficient	NOUN
faba-284	649	19	standard	standard	ADJ
faba-284	649	20	error	error	NOUN
faba-284	649	21	t	t	NOUN
faba-284	649	22	stat	stat	NOUN
faba-284	649	23	p	p	NOUN
faba-284	649	24	-	-	PUNCT
faba-284	649	25	value	value	NOUN
faba-284	649	26	lower	low	ADJ
faba-284	649	27	95	95	NUM
faba-284	649	28	%	%	NOUN
faba-284	649	29	upper	upper	ADJ
faba-284	649	30	95	95	NUM
faba-284	649	31	%	%	NOUN
faba-284	649	32	lower	low	ADJ
faba-284	649	33	95.0	95.0	NUM
faba-284	649	34	%	%	NOUN
faba-284	649	35	upper	upper	ADJ
faba-284	649	36	95.0	95.0	NUM
faba-284	649	37	%	%	NOUN
faba-284	649	38	intercept	intercept	NOUN
faba-284	649	39	0.00128	0.00128	NUM
faba-284	649	40	0.00027	0.00027	NUM
faba-284	649	41	4.74974	4.74974	NUM
faba-284	649	42	2.10827e-06	2.10827e-06	NUM
faba-284	649	43	0.00075	0.00075	NUM
faba-284	649	44	0.00180	0.00180	NUM
faba-284	650	1	0.00075	0.00075	NUM
faba-284	650	2	0.00180	0.00180	NUM
faba-284	650	3	x	x	SYM
faba-284	650	4	variable	variable	ADJ
faba-284	650	5	1	1	NUM
faba-284	650	6	0.67103	0.67103	NUM
faba-284	650	7	0.00741	0.00741	NUM
faba-284	650	8	90.53	90.53	NUM
faba-284	650	9	0	0	PUNCT
faba-284	650	10	0.65650	0.65650	NUM
faba-284	650	11	0.68556	0.68556	NUM
faba-284	650	12	0.65650	0.65650	NUM
faba-284	650	13	0.68556	0.68556	NUM
faba-284	650	14	source	source	NOUN
faba-284	650	15	:	:	PUNCT
faba-284	650	16	authors	author	NOUN
faba-284	650	17	’	’	PART
faba-284	650	18	data	data	PROPN
faba-284	650	19	alejandro	alejandro	PROPN
faba-284	650	20	rabinovich	rabinovich	PROPN
faba-284	650	21	/	/	SYM
faba-284	650	22	finance	finance	NOUN
faba-284	650	23	,	,	PUNCT
faba-284	650	24	accounting	accounting	NOUN
faba-284	650	25	and	and	CCONJ
faba-284	650	26	business	business	NOUN
faba-284	650	27	analysis	analysis	NOUN
faba-284	650	28	,	,	PUNCT
faba-284	650	29	volume	volume	NOUN
faba-284	650	30	7	7	NUM
faba-284	650	31	,	,	PUNCT
faba-284	650	32	issue	issue	NOUN
faba-284	650	33	2	2	NUM
faba-284	650	34	,	,	PUNCT
faba-284	650	35	2025	2025	NUM
faba-284	650	36	276	276	NUM
faba-284	650	37	table	table	NOUN
faba-284	650	38	11	11	NUM
faba-284	650	39	.	.	PUNCT
faba-284	651	1	regression	regression	NOUN
faba-284	651	2	results	result	NOUN
faba-284	651	3	for	for	ADP
faba-284	651	4	the	the	DET
faba-284	651	5	period	period	NOUN
faba-284	651	6	june	june	PROPN
faba-284	651	7	2015	2015	NUM
faba-284	651	8	–	–	PUNCT
faba-284	651	9	may	may	AUX
faba-284	651	10	2025	2025	NUM
faba-284	651	11	regression	regression	NOUN
faba-284	651	12	statistics	statistic	NOUN
faba-284	651	13	multiple	multiple	ADJ
faba-284	651	14	r	r	NOUN
faba-284	651	15	0.8447	0.8447	NUM
faba-284	651	16	r	r	NOUN
faba-284	651	17	square	square	NOUN
faba-284	651	18	0.7135	0.7135	NUM
faba-284	651	19	adjusted	adjust	VERB
faba-284	651	20	r	r	NOUN
faba-284	651	21	square	square	NOUN
faba-284	651	22	0.7134	0.7134	NUM
faba-284	651	23	standard	standard	ADJ
faba-284	651	24	error	error	NOUN
faba-284	651	25	0.0163	0.0163	NUM
faba-284	651	26	observations	observation	NOUN
faba-284	651	27	3632	3632	NUM
faba-284	651	28	anova	anova	PROPN
faba-284	651	29	1/6/2015	1/6/2015	NUM
faba-284	652	1	10/5/2025	10/5/2025	NUM
faba-284	652	2	df	df	PROPN
faba-284	652	3	ss	ss	PROPN
faba-284	653	1	ms	ms	PROPN
faba-284	653	2	f	f	PROPN
faba-284	653	3	significance	significance	NOUN
faba-284	653	4	f	f	PROPN
faba-284	653	5	regression	regression	VERB
faba-284	653	6	1	1	NUM
faba-284	653	7	2.408330	2.408330	NUM
faba-284	653	8	2.408330	2.408330	NUM
faba-284	653	9	9038.519	9038.519	NUM
faba-284	653	10	0	0	NUM
faba-284	653	11	residual	residual	ADJ
faba-284	653	12	3630	3630	NUM
faba-284	653	13	0.967220	0.967220	NUM
faba-284	653	14	0.000266	0.000266	NUM
faba-284	653	15	total	total	ADJ
faba-284	653	16	3631	3631	NUM
faba-284	653	17	3.375550	3.375550	NUM
faba-284	653	18	coefficients	coefficient	NOUN
faba-284	653	19	standard	standard	ADJ
faba-284	653	20	error	error	NOUN
faba-284	653	21	t	t	NOUN
faba-284	653	22	stat	stat	NOUN
faba-284	653	23	p	p	NOUN
faba-284	653	24	-	-	PUNCT
faba-284	653	25	value	value	NOUN
faba-284	653	26	lower	low	ADJ
faba-284	653	27	95	95	NUM
faba-284	653	28	%	%	NOUN
faba-284	653	29	upper	upper	ADJ
faba-284	653	30	95	95	NUM
faba-284	653	31	%	%	NOUN
faba-284	653	32	lower	low	ADJ
faba-284	653	33	95.0	95.0	NUM
faba-284	653	34	%	%	NOUN
faba-284	653	35	upper	upper	ADJ
faba-284	653	36	95.0	95.0	NUM
faba-284	653	37	%	%	NOUN
faba-284	653	38	intercept	intercept	VERB
faba-284	653	39	0.00122	0.00122	NUM
faba-284	653	40	0.00027	0.00027	NUM
faba-284	653	41	4.49184	4.49184	NUM
faba-284	653	42	7.28097e-06	7.28097e-06	NUM
faba-284	653	43	0.00069	0.00069	NUM
faba-284	653	44	0.00175	0.00175	NUM
faba-284	653	45	0.00069	0.00069	NUM
faba-284	653	46	0.00175	0.00175	NUM
faba-284	653	47	x	x	SYM
faba-284	653	48	variable	variable	ADJ
faba-284	653	49	1	1	NUM
faba-284	653	50	0.71226	0.71226	NUM
faba-284	653	51	0.00749	0.00749	NUM
faba-284	653	52	95.07	95.07	NUM
faba-284	653	53	0	0	NUM
faba-284	654	1	0.69757	0.69757	NUM
faba-284	654	2	0.72695	0.72695	NUM
faba-284	654	3	0.69757	0.69757	NUM
faba-284	654	4	0.72695	0.72695	NUM
faba-284	654	5	source	source	NOUN
faba-284	654	6	:	:	PUNCT
faba-284	654	7	authors	author	NOUN
faba-284	654	8	’	’	PART
faba-284	654	9	data	datum	NOUN
faba-284	654	10	table	table	NOUN
faba-284	654	11	12	12	NUM
faba-284	654	12	.	.	PUNCT
faba-284	655	1	regression	regression	NOUN
faba-284	655	2	results	result	NOUN
faba-284	655	3	for	for	ADP
faba-284	655	4	the	the	DET
faba-284	655	5	period	period	NOUN
faba-284	655	6	june	june	PROPN
faba-284	655	7	2016	2016	NUM
faba-284	655	8	–	–	PUNCT
faba-284	655	9	may	may	AUX
faba-284	655	10	2025	2025	NUM
faba-284	655	11	regression	regression	VERB
faba-284	655	12	statistics	statistic	NOUN
faba-284	655	13	multiple	multiple	ADJ
faba-284	655	14	r	r	NOUN
faba-284	655	15	0.8339	0.8339	NUM
faba-284	655	16	r	r	NOUN
faba-284	655	17	square	square	ADJ
faba-284	655	18	0.6953	0.6953	NUM
faba-284	655	19	adjusted	adjust	VERB
faba-284	655	20	r	r	NOUN
faba-284	655	21	square	square	NOUN
faba-284	655	22	0.6952	0.6952	NUM
faba-284	655	23	standard	standard	ADJ
faba-284	655	24	error	error	NOUN
faba-284	655	25	0.0170	0.0170	NUM
faba-284	655	26	observations	observation	NOUN
faba-284	655	27	3266	3266	NUM
faba-284	655	28	anova	anova	X
faba-284	655	29	1/6/2016	1/6/2016	NUM
faba-284	655	30	10/5/2025	10/5/2025	NUM
faba-284	655	31	df	df	PROPN
faba-284	656	1	ss	ss	PROPN
faba-284	657	1	ms	ms	PROPN
faba-284	657	2	f	f	PROPN
faba-284	657	3	significance	significance	NOUN
faba-284	657	4	f	f	PROPN
faba-284	657	5	regression	regression	VERB
faba-284	657	6	1	1	NUM
faba-284	657	7	2.150193	2.150193	NUM
faba-284	657	8	2.150193	2.150193	NUM
faba-284	657	9	7448.660	7448.660	NUM
faba-284	657	10	0	0	NUM
faba-284	657	11	residual	residual	ADJ
faba-284	657	12	3264	3264	NUM
faba-284	657	13	0.942214	0.942214	NUM
faba-284	657	14	0.000289	0.000289	NUM
faba-284	657	15	total	total	ADJ
faba-284	657	16	3265	3265	NUM
faba-284	657	17	3.092406	3.092406	NUM
faba-284	657	18	coefficients	coefficient	NOUN
faba-284	657	19	standard	standard	ADJ
faba-284	657	20	error	error	NOUN
faba-284	657	21	t	t	NOUN
faba-284	657	22	stat	stat	NOUN
faba-284	657	23	p	p	NOUN
faba-284	657	24	-	-	PUNCT
faba-284	657	25	value	value	NOUN
faba-284	657	26	lower	low	ADJ
faba-284	657	27	95	95	NUM
faba-284	657	28	%	%	NOUN
faba-284	657	29	upper	upper	ADJ
faba-284	657	30	95	95	NUM
faba-284	657	31	%	%	NOUN
faba-284	657	32	lower	low	ADJ
faba-284	657	33	95.0	95.0	NUM
faba-284	657	34	%	%	NOUN
faba-284	657	35	upper	upper	ADJ
faba-284	657	36	95.0	95.0	NUM
faba-284	657	37	%	%	NOUN
faba-284	657	38	intercept	intercept	NOUN
faba-284	657	39	0.00131	0.00131	NUM
faba-284	657	40	0.00030	0.00030	NUM
faba-284	657	41	4.40390	4.40390	NUM
faba-284	657	42	1.09735e-05	1.09735e-05	NUM
faba-284	657	43	0.00073	0.00073	NUM
faba-284	657	44	0.00190	0.00190	NUM
faba-284	657	45	0.00073	0.00073	NUM
faba-284	657	46	0.00190	0.00190	NUM
faba-284	657	47	x	x	SYM
faba-284	657	48	variable	variable	ADJ
faba-284	657	49	1	1	NUM
faba-284	657	50	0.69403	0.69403	NUM
faba-284	657	51	0.00804	0.00804	NUM
faba-284	657	52	86.31	86.31	NUM
faba-284	657	53	0	0	NUM
faba-284	658	1	0.67826	0.67826	NUM
faba-284	658	2	0.70979	0.70979	NUM
faba-284	658	3	0.67826	0.67826	NUM
faba-284	658	4	0.70979	0.70979	NUM
faba-284	658	5	source	source	NOUN
faba-284	658	6	:	:	PUNCT
faba-284	658	7	authors	author	NOUN
faba-284	658	8	’	’	PART
faba-284	658	9	data	data	PROPN
faba-284	658	10	alejandro	alejandro	PROPN
faba-284	658	11	rabinovich	rabinovich	PROPN
faba-284	658	12	/	/	SYM
faba-284	658	13	finance	finance	NOUN
faba-284	658	14	,	,	PUNCT
faba-284	658	15	accounting	accounting	NOUN
faba-284	658	16	and	and	CCONJ
faba-284	658	17	business	business	NOUN
faba-284	658	18	analysis	analysis	NOUN
faba-284	658	19	,	,	PUNCT
faba-284	658	20	volume	volume	NOUN
faba-284	658	21	7	7	NUM
faba-284	658	22	,	,	PUNCT
faba-284	658	23	issue	issue	NOUN
faba-284	658	24	2	2	NUM
faba-284	658	25	,	,	PUNCT
faba-284	658	26	2025	2025	NUM
faba-284	658	27	277	277	NUM
faba-284	658	28	table	table	NOUN
faba-284	658	29	13	13	NUM
faba-284	658	30	.	.	PUNCT
faba-284	659	1	regression	regression	NOUN
faba-284	659	2	results	result	NOUN
faba-284	659	3	for	for	ADP
faba-284	659	4	the	the	DET
faba-284	659	5	period	period	NOUN
faba-284	659	6	june	june	PROPN
faba-284	659	7	2017	2017	NUM
faba-284	659	8	–	–	PUNCT
faba-284	659	9	may	may	AUX
faba-284	659	10	2025	2025	NUM
faba-284	659	11	regression	regression	VERB
faba-284	659	12	statistics	statistic	NOUN
faba-284	659	13	multiple	multiple	ADJ
faba-284	659	14	r	r	NOUN
faba-284	659	15	0.8175	0.8175	NUM
faba-284	659	16	r	r	NOUN
faba-284	659	17	square	square	NOUN
faba-284	659	18	0.6683	0.6683	NUM
faba-284	659	19	adjusted	adjust	VERB
faba-284	659	20	r	r	NOUN
faba-284	659	21	square	square	NOUN
faba-284	659	22	0.6682	0.6682	NUM
faba-284	659	23	standard	standard	ADJ
faba-284	659	24	error	error	NOUN
faba-284	659	25	0.0177	0.0177	NUM
faba-284	659	26	observations	observation	NOUN
faba-284	659	27	2901	2901	NUM
faba-284	659	28	anova	anova	X
faba-284	660	1	1/6/2017	1/6/2017	NUM
faba-284	660	2	10/5/2025	10/5/2025	NUM
faba-284	660	3	df	df	NOUN
faba-284	660	4	ss	ss	PROPN
faba-284	660	5	ms	ms	PROPN
faba-284	660	6	f	f	PROPN
faba-284	660	7	significance	significance	NOUN
faba-284	660	8	f	f	PROPN
faba-284	660	9	regression	regression	VERB
faba-284	660	10	1	1	NUM
faba-284	660	11	1.824587	1.824587	NUM
faba-284	660	12	1.824587	1.824587	NUM
faba-284	660	13	5842.049	5842.049	NUM
faba-284	660	14	0	0	NUM
faba-284	660	15	residual	residual	ADJ
faba-284	660	16	2899	2899	NUM
faba-284	660	17	0.905415	0.905415	NUM
faba-284	660	18	0.000312	0.000312	NUM
faba-284	660	19	total	total	ADJ
faba-284	660	20	2900	2900	NUM
faba-284	660	21	2.730002	2.730002	NUM
faba-284	660	22	coefficients	coefficient	NOUN
faba-284	660	23	standard	standard	ADJ
faba-284	660	24	error	error	NOUN
faba-284	660	25	t	t	NOUN
faba-284	660	26	stat	stat	NOUN
faba-284	660	27	p	p	NOUN
faba-284	660	28	-	-	PUNCT
faba-284	660	29	value	value	NOUN
faba-284	660	30	lower	low	ADJ
faba-284	660	31	95	95	NUM
faba-284	660	32	%	%	NOUN
faba-284	660	33	upper	upper	ADJ
faba-284	660	34	95	95	NUM
faba-284	660	35	%	%	NOUN
faba-284	660	36	lower	low	ADJ
faba-284	660	37	95.0	95.0	NUM
faba-284	660	38	%	%	NOUN
faba-284	660	39	upper	upper	ADJ
faba-284	660	40	95.0	95.0	NUM
faba-284	660	41	%	%	NOUN
faba-284	660	42	intercept	intercept	VERB
faba-284	660	43	0.00135	0.00135	NUM
faba-284	660	44	0.00033	0.00033	NUM
faba-284	660	45	4.11187	4.11187	NUM
faba-284	660	46	4.0337e-05	4.0337e-05	NUM
faba-284	660	47	0.00071	0.00071	NUM
faba-284	660	48	0.00200	0.00200	NUM
faba-284	660	49	0.00071	0.00071	NUM
faba-284	660	50	0.00200	0.00200	NUM
faba-284	660	51	x	x	SYM
faba-284	660	52	variable	variable	ADJ
faba-284	660	53	1	1	NUM
faba-284	660	54	0.66705	0.66705	NUM
faba-284	660	55	0.00873	0.00873	NUM
faba-284	660	56	76.43	76.43	NUM
faba-284	660	57	0	0	NUM
faba-284	661	1	0.64994	0.64994	NUM
faba-284	661	2	0.68416	0.68416	NUM
faba-284	661	3	0.64994	0.64994	NUM
faba-284	661	4	0.68416	0.68416	NUM
faba-284	661	5	source	source	NOUN
faba-284	661	6	:	:	PUNCT
faba-284	661	7	authors	author	NOUN
faba-284	661	8	’	’	PART
faba-284	661	9	data	datum	NOUN
faba-284	661	10	table	table	NOUN
faba-284	661	11	14	14	NUM
faba-284	661	12	.	.	PUNCT
faba-284	662	1	regression	regression	NOUN
faba-284	662	2	results	result	NOUN
faba-284	662	3	for	for	ADP
faba-284	662	4	the	the	DET
faba-284	662	5	period	period	NOUN
faba-284	662	6	june	june	PROPN
faba-284	662	7	2018	2018	NUM
faba-284	662	8	–	–	PUNCT
faba-284	662	9	may	may	AUX
faba-284	662	10	2025	2025	NUM
faba-284	662	11	regression	regression	NOUN
faba-284	662	12	statistics	statistic	NOUN
faba-284	662	13	multiple	multiple	ADJ
faba-284	662	14	r	r	NOUN
faba-284	662	15	0.8442	0.8442	NUM
faba-284	662	16	r	r	NOUN
faba-284	662	17	square	square	NOUN
faba-284	662	18	0.7127	0.7127	NUM
faba-284	662	19	adjusted	adjust	VERB
faba-284	662	20	r	r	NOUN
faba-284	662	21	square	square	NOUN
faba-284	662	22	0.7126	0.7126	NUM
faba-284	662	23	standard	standard	ADJ
faba-284	662	24	error	error	NOUN
faba-284	662	25	0.0155	0.0155	NUM
faba-284	662	26	observations	observation	NOUN
faba-284	662	27	2536	2536	NUM
faba-284	662	28	anova	anova	X
faba-284	662	29	1/6/2018	1/6/2018	NUM
faba-284	662	30	10/5/2025	10/5/2025	NUM
faba-284	662	31	df	df	PROPN
faba-284	663	1	ss	ss	PROPN
faba-284	664	1	ms	ms	PROPN
faba-284	664	2	f	f	PROPN
faba-284	664	3	significance	significance	NOUN
faba-284	664	4	f	f	PROPN
faba-284	664	5	regression	regression	VERB
faba-284	664	6	1	1	NUM
faba-284	664	7	1.518074	1.518074	NUM
faba-284	665	1	1.518074	1.518074	NUM
faba-284	665	2	6287.112	6287.112	PROPN
faba-284	665	3	0	0	NUM
faba-284	665	4	residual	residual	ADJ
faba-284	665	5	2534	2534	NUM
faba-284	665	6	0.611855	0.611855	NUM
faba-284	665	7	0.000241	0.000241	NUM
faba-284	665	8	total	total	ADJ
faba-284	665	9	2535	2535	NUM
faba-284	665	10	2.129929	2.129929	NUM
faba-284	665	11	coefficients	coefficient	NOUN
faba-284	665	12	standard	standard	ADJ
faba-284	665	13	error	error	NOUN
faba-284	665	14	t	t	NOUN
faba-284	665	15	stat	stat	NOUN
faba-284	665	16	p	p	NOUN
faba-284	665	17	-	-	PUNCT
faba-284	665	18	value	value	NOUN
faba-284	665	19	lower	low	ADJ
faba-284	665	20	95	95	NUM
faba-284	665	21	%	%	NOUN
faba-284	665	22	upper	upper	ADJ
faba-284	665	23	95	95	NUM
faba-284	665	24	%	%	NOUN
faba-284	665	25	lower	low	ADJ
faba-284	665	26	95.0	95.0	NUM
faba-284	665	27	%	%	NOUN
faba-284	665	28	upper	upper	ADJ
faba-284	665	29	95.0	95.0	NUM
faba-284	665	30	%	%	NOUN
faba-284	665	31	intercept	intercept	NOUN
faba-284	665	32	0.00097	0.00097	NUM
faba-284	665	33	0.00031	0.00031	NUM
faba-284	665	34	3.14394	3.14394	NUM
faba-284	665	35	0.001686206	0.001686206	NUM
faba-284	665	36	0.00037	0.00037	NUM
faba-284	665	37	0.00158	0.00158	NUM
faba-284	665	38	0.00037	0.00037	NUM
faba-284	665	39	0.00158	0.00158	NUM
faba-284	665	40	x	x	SYM
faba-284	665	41	variable	variable	ADJ
faba-284	665	42	1	1	NUM
faba-284	665	43	0.71183	0.71183	NUM
faba-284	665	44	0.00898	0.00898	NUM
faba-284	665	45	79.29	79.29	NUM
faba-284	665	46	0	0	NUM
faba-284	665	47	0.69422	0.69422	NUM
faba-284	665	48	0.72943	0.72943	NUM
faba-284	665	49	0.69422	0.69422	NUM
faba-284	665	50	0.72943	0.72943	NUM
faba-284	665	51	source	source	NOUN
faba-284	665	52	:	:	PUNCT
faba-284	665	53	authors	author	NOUN
faba-284	665	54	’	’	PART
faba-284	665	55	data	data	PROPN
faba-284	665	56	alejandro	alejandro	PROPN
faba-284	665	57	rabinovich	rabinovich	PROPN
faba-284	665	58	/	/	SYM
faba-284	665	59	finance	finance	NOUN
faba-284	665	60	,	,	PUNCT
faba-284	665	61	accounting	accounting	NOUN
faba-284	665	62	and	and	CCONJ
faba-284	665	63	business	business	NOUN
faba-284	665	64	analysis	analysis	NOUN
faba-284	665	65	,	,	PUNCT
faba-284	665	66	volume	volume	NOUN
faba-284	665	67	7	7	NUM
faba-284	665	68	,	,	PUNCT
faba-284	665	69	issue	issue	NOUN
faba-284	665	70	2	2	NUM
faba-284	665	71	,	,	PUNCT
faba-284	665	72	2025	2025	NUM
faba-284	665	73	278	278	NUM
faba-284	665	74	table	table	NOUN
faba-284	665	75	15	15	NUM
faba-284	665	76	.	.	PUNCT
faba-284	666	1	regression	regression	NOUN
faba-284	666	2	results	result	NOUN
faba-284	666	3	for	for	ADP
faba-284	666	4	the	the	DET
faba-284	666	5	period	period	NOUN
faba-284	666	6	june	june	PROPN
faba-284	666	7	2019	2019	NUM
faba-284	666	8	–	–	PUNCT
faba-284	666	9	may	may	AUX
faba-284	666	10	2025	2025	NUM
faba-284	666	11	regression	regression	VERB
faba-284	666	12	statistics	statistic	NOUN
faba-284	666	13	multiple	multiple	ADJ
faba-284	666	14	r	r	NOUN
faba-284	666	15	0.8763	0.8763	NUM
faba-284	666	16	r	r	NOUN
faba-284	666	17	square	square	NOUN
faba-284	666	18	0.7678	0.7678	NUM
faba-284	666	19	adjusted	adjust	VERB
faba-284	666	20	r	r	NOUN
faba-284	666	21	square	square	NOUN
faba-284	666	22	0.7677	0.7677	NUM
faba-284	666	23	standard	standard	ADJ
faba-284	666	24	error	error	NOUN
faba-284	666	25	0.0145	0.0145	NUM
faba-284	666	26	observations	observation	NOUN
faba-284	666	27	2171	2171	NUM
faba-284	666	28	anova	anova	PROPN
faba-284	667	1	1/6/2019	1/6/2019	NUM
faba-284	667	2	10/5/2025	10/5/2025	NUM
faba-284	667	3	df	df	PROPN
faba-284	667	4	ss	ss	PROPN
faba-284	668	1	ms	ms	PROPN
faba-284	668	2	f	f	PROPN
faba-284	668	3	significance	significance	NOUN
faba-284	668	4	f	f	PROPN
faba-284	668	5	regression	regression	VERB
faba-284	668	6	1	1	NUM
faba-284	668	7	1.498918	1.498918	NUM
faba-284	668	8	1.498918	1.498918	NUM
faba-284	668	9	7173.241	7173.241	NOUN
faba-284	668	10	0	0	NUM
faba-284	668	11	residual	residual	ADJ
faba-284	668	12	2169	2169	NUM
faba-284	668	13	0.453234	0.453234	NUM
faba-284	668	14	0.000209	0.000209	NUM
faba-284	668	15	total	total	ADJ
faba-284	668	16	2170	2170	NUM
faba-284	668	17	1.952152	1.952152	NUM
faba-284	668	18	coefficients	coefficient	NOUN
faba-284	668	19	standard	standard	ADJ
faba-284	668	20	error	error	NOUN
faba-284	668	21	t	t	NOUN
faba-284	668	22	stat	stat	NOUN
faba-284	668	23	p	p	NOUN
faba-284	668	24	-	-	PUNCT
faba-284	668	25	value	value	NOUN
faba-284	668	26	lower	low	ADJ
faba-284	668	27	95	95	NUM
faba-284	668	28	%	%	NOUN
faba-284	668	29	upper	upper	ADJ
faba-284	668	30	95	95	NUM
faba-284	668	31	%	%	NOUN
faba-284	668	32	lower	low	ADJ
faba-284	668	33	95.0	95.0	NUM
faba-284	668	34	%	%	NOUN
faba-284	668	35	upper	upper	ADJ
faba-284	668	36	95.0	95.0	NUM
faba-284	668	37	%	%	NOUN
faba-284	668	38	intercept	intercept	NOUN
faba-284	668	39	0.00075	0.00075	NUM
faba-284	668	40	0.00031	0.00031	NUM
faba-284	668	41	2.42628	2.42628	NUM
faba-284	668	42	0.015335382	0.015335382	NUM
faba-284	668	43	0.00014	0.00014	NUM
faba-284	668	44	0.00136	0.00136	NUM
faba-284	668	45	0.00014	0.00014	NUM
faba-284	669	1	0.00136	0.00136	NUM
faba-284	669	2	x	x	SYM
faba-284	669	3	variable	variable	ADJ
faba-284	669	4	1	1	NUM
faba-284	669	5	0.76721	0.76721	NUM
faba-284	669	6	0.00906	0.00906	NUM
faba-284	669	7	84.69	84.69	NUM
faba-284	669	8	0	0	NUM
faba-284	669	9	0.74944	0.74944	NUM
faba-284	669	10	0.78497	0.78497	NUM
faba-284	669	11	0.74944	0.74944	NUM
faba-284	669	12	0.78497	0.78497	NUM
faba-284	669	13	source	source	NOUN
faba-284	669	14	:	:	PUNCT
faba-284	669	15	authors	author	NOUN
faba-284	669	16	’	’	PART
faba-284	669	17	data	datum	NOUN
faba-284	669	18	table	table	NOUN
faba-284	669	19	16	16	NUM
faba-284	669	20	.	.	PUNCT
faba-284	670	1	regression	regression	NOUN
faba-284	670	2	results	result	NOUN
faba-284	670	3	for	for	ADP
faba-284	670	4	the	the	DET
faba-284	670	5	period	period	NOUN
faba-284	670	6	june	june	PROPN
faba-284	670	7	2020	2020	NUM
faba-284	670	8	–	–	PUNCT
faba-284	670	9	may	may	AUX
faba-284	670	10	2025	2025	NUM
faba-284	670	11	regression	regression	VERB
faba-284	670	12	statistics	statistic	NOUN
faba-284	670	13	multiple	multiple	ADJ
faba-284	670	14	r	r	NOUN
faba-284	670	15	0.8218	0.8218	NUM
faba-284	670	16	r	r	NOUN
faba-284	670	17	square	square	NOUN
faba-284	670	18	0.6754	0.6754	NUM
faba-284	670	19	adjusted	adjust	VERB
faba-284	670	20	r	r	NOUN
faba-284	670	21	square	square	NOUN
faba-284	670	22	0.6752	0.6752	NUM
faba-284	670	23	standard	standard	ADJ
faba-284	670	24	error	error	NOUN
faba-284	670	25	0.0149	0.0149	NUM
faba-284	670	26	observations	observation	NOUN
faba-284	670	27	1805	1805	NUM
faba-284	670	28	anova	anova	X
faba-284	670	29	1/6/2020	1/6/2020	NUM
faba-284	670	30	10/5/2025	10/5/2025	NUM
faba-284	670	31	df	df	PROPN
faba-284	670	32	ss	ss	PROPN
faba-284	670	33	ms	ms	PROPN
faba-284	670	34	f	f	PROPN
faba-284	670	35	significance	significance	NOUN
faba-284	670	36	f	f	PROPN
faba-284	670	37	regression	regression	VERB
faba-284	670	38	1	1	NUM
faba-284	670	39	0.828433	0.828433	NUM
faba-284	670	40	0.828433	0.828433	NUM
faba-284	670	41	3751.438	3751.438	NUM
faba-284	670	42	0	0	NUM
faba-284	670	43	residual	residual	ADJ
faba-284	670	44	1803	1803	NUM
faba-284	670	45	0.398158	0.398158	NUM
faba-284	670	46	0.000221	0.000221	NUM
faba-284	670	47	total	total	ADJ
faba-284	670	48	1804	1804	NUM
faba-284	670	49	1.226591	1.226591	NUM
faba-284	670	50	coefficients	coefficient	NOUN
faba-284	670	51	standard	standard	ADJ
faba-284	670	52	error	error	NOUN
faba-284	670	53	t	t	NOUN
faba-284	670	54	stat	stat	NOUN
faba-284	670	55	p	p	NOUN
faba-284	670	56	-	-	PUNCT
faba-284	670	57	value	value	NOUN
faba-284	670	58	lower	low	ADJ
faba-284	670	59	95	95	NUM
faba-284	670	60	%	%	NOUN
faba-284	670	61	upper	upper	ADJ
faba-284	670	62	95	95	NUM
faba-284	670	63	%	%	NOUN
faba-284	670	64	lower	low	ADJ
faba-284	670	65	95.0	95.0	NUM
faba-284	670	66	%	%	NOUN
faba-284	670	67	upper	upper	ADJ
faba-284	670	68	95.0	95.0	NUM
faba-284	670	69	%	%	NOUN
faba-284	670	70	intercept	intercept	VERB
faba-284	670	71	0.00102	0.00102	NUM
faba-284	670	72	0.00035	0.00035	NUM
faba-284	671	1	2.92183	2.92183	NUM
faba-284	671	2	0.003523064	0.003523064	NUM
faba-284	671	3	0.00034	0.00034	NUM
faba-284	671	4	0.00171	0.00171	NUM
faba-284	671	5	0.00034	0.00034	NUM
faba-284	671	6	0.00171	0.00171	NUM
faba-284	671	7	x	x	SYM
faba-284	671	8	variable	variable	ADJ
faba-284	671	9	1	1	NUM
faba-284	671	10	0.67444	0.67444	NUM
faba-284	671	11	0.01101	0.01101	NUM
faba-284	671	12	61.25	61.25	NUM
faba-284	671	13	0	0	NUM
faba-284	671	14	0.65285	0.65285	NUM
faba-284	671	15	0.69604	0.69604	NUM
faba-284	671	16	0.65285	0.65285	NUM
faba-284	671	17	0.69604	0.69604	NUM
faba-284	671	18	source	source	NOUN
faba-284	671	19	:	:	PUNCT
faba-284	671	20	authors	author	NOUN
faba-284	671	21	’	’	PART
faba-284	671	22	data	data	PROPN
faba-284	671	23	alejandro	alejandro	PROPN
faba-284	671	24	rabinovich	rabinovich	PROPN
faba-284	671	25	/	/	SYM
faba-284	671	26	finance	finance	NOUN
faba-284	671	27	,	,	PUNCT
faba-284	671	28	accounting	accounting	NOUN
faba-284	671	29	and	and	CCONJ
faba-284	671	30	business	business	NOUN
faba-284	671	31	analysis	analysis	NOUN
faba-284	671	32	,	,	PUNCT
faba-284	671	33	volume	volume	NOUN
faba-284	671	34	7	7	NUM
faba-284	671	35	,	,	PUNCT
faba-284	671	36	issue	issue	NOUN
faba-284	671	37	2	2	NUM
faba-284	671	38	,	,	PUNCT
faba-284	671	39	2025	2025	NUM
faba-284	671	40	279	279	NUM
faba-284	671	41	table	table	NOUN
faba-284	671	42	17	17	NUM
faba-284	671	43	.	.	PUNCT
faba-284	672	1	regression	regression	NOUN
faba-284	672	2	results	result	NOUN
faba-284	672	3	for	for	ADP
faba-284	672	4	the	the	DET
faba-284	672	5	period	period	NOUN
faba-284	672	6	june	june	PROPN
faba-284	672	7	2021	2021	NUM
faba-284	672	8	–	–	PUNCT
faba-284	672	9	may	may	AUX
faba-284	672	10	2025	2025	NUM
faba-284	672	11	regression	regression	VERB
faba-284	672	12	statistics	statistic	NOUN
faba-284	672	13	multiple	multiple	ADJ
faba-284	672	14	r	r	NOUN
faba-284	672	15	0.8045	0.8045	NUM
faba-284	672	16	r	r	NOUN
faba-284	672	17	square	square	ADJ
faba-284	672	18	0.6473	0.6473	NUM
faba-284	672	19	adjusted	adjust	VERB
faba-284	672	20	r	r	NOUN
faba-284	672	21	square	square	NOUN
faba-284	672	22	0.6470	0.6470	NUM
faba-284	672	23	standard	standard	ADJ
faba-284	672	24	error	error	NOUN
faba-284	672	25	0.0142	0.0142	NUM
faba-284	672	26	observations	observation	NOUN
faba-284	672	27	1440	1440	NUM
faba-284	672	28	anova	anova	X
faba-284	672	29	1/6/2021	1/6/2021	NUM
faba-284	672	30	10/5/2025	10/5/2025	NUM
faba-284	672	31	df	df	PROPN
faba-284	672	32	ss	ss	PROPN
faba-284	672	33	ms	ms	PROPN
faba-284	672	34	f	f	PROPN
faba-284	672	35	significance	significance	NOUN
faba-284	672	36	f	f	PROPN
faba-284	672	37	regression	regression	VERB
faba-284	672	38	1	1	NUM
faba-284	672	39	0.535521	0.535521	NUM
faba-284	672	40	0.535521	0.535521	NUM
faba-284	672	41	2638.808	2638.808	NUM
faba-284	672	42	0	0	NUM
faba-284	672	43	residual	residual	ADJ
faba-284	672	44	1438	1438	NUM
faba-284	672	45	0.291829	0.291829	NUM
faba-284	672	46	0.000203	0.000203	NUM
faba-284	672	47	total	total	ADJ
faba-284	672	48	1439	1439	NUM
faba-284	672	49	0.827350	0.827350	NUM
faba-284	672	50	coefficients	coefficient	NOUN
faba-284	672	51	standard	standard	ADJ
faba-284	672	52	error	error	NOUN
faba-284	672	53	t	t	NOUN
faba-284	672	54	stat	stat	NOUN
faba-284	672	55	p	p	NOUN
faba-284	672	56	-	-	PUNCT
faba-284	672	57	value	value	NOUN
faba-284	672	58	lower	low	ADJ
faba-284	672	59	95	95	NUM
faba-284	672	60	%	%	NOUN
faba-284	672	61	upper	upper	ADJ
faba-284	672	62	95	95	NUM
faba-284	672	63	%	%	NOUN
faba-284	672	64	lower	low	ADJ
faba-284	672	65	95.0	95.0	NUM
faba-284	672	66	%	%	NOUN
faba-284	672	67	upper	upper	ADJ
faba-284	672	68	95.0	95.0	NUM
faba-284	672	69	%	%	NOUN
faba-284	672	70	intercept	intercept	NOUN
faba-284	672	71	0.00067	0.00067	NUM
faba-284	672	72	0.00038	0.00038	NUM
faba-284	672	73	1.77202	1.77202	NUM
faba-284	672	74	0.076602273	0.076602273	NUM
faba-284	672	75	-0.00007	-0.00007	NOUN
faba-284	672	76	0.00140	0.00140	NUM
faba-284	672	77	-0.00007	-0.00007	NOUN
faba-284	672	78	0.00140	0.00140	NUM
faba-284	672	79	x	x	SYM
faba-284	672	80	variable	variable	ADJ
faba-284	672	81	1	1	NUM
faba-284	672	82	0.64687	0.64687	NUM
faba-284	672	83	0.01259	0.01259	NUM
faba-284	672	84	51.37	51.37	NUM
faba-284	672	85	0	0	NUM
faba-284	672	86	0.62217	0.62217	NUM
faba-284	672	87	0.67157	0.67157	NUM
faba-284	672	88	0.62217	0.62217	NUM
faba-284	672	89	0.67157	0.67157	NUM
faba-284	672	90	source	source	NOUN
faba-284	672	91	:	:	PUNCT
faba-284	672	92	authors	author	NOUN
faba-284	672	93	’	’	PART
faba-284	672	94	data	datum	NOUN
faba-284	672	95	table	table	NOUN
faba-284	672	96	18	18	NUM
faba-284	672	97	.	.	PUNCT
faba-284	673	1	regression	regression	NOUN
faba-284	673	2	results	result	NOUN
faba-284	673	3	for	for	ADP
faba-284	673	4	the	the	DET
faba-284	673	5	period	period	NOUN
faba-284	673	6	june	june	PROPN
faba-284	673	7	2022	2022	NUM
faba-284	673	8	–	–	PUNCT
faba-284	673	9	may	may	AUX
faba-284	673	10	2025	2025	NUM
faba-284	673	11	regression	regression	NOUN
faba-284	673	12	statistics	statistic	NOUN
faba-284	673	13	multiple	multiple	ADJ
faba-284	673	14	r	r	NOUN
faba-284	673	15	0.9216	0.9216	NUM
faba-284	673	16	r	r	NOUN
faba-284	673	17	square	square	ADJ
faba-284	673	18	0.8494	0.8494	NUM
faba-284	673	19	adjusted	adjust	VERB
faba-284	673	20	r	r	NOUN
faba-284	673	21	square	square	NOUN
faba-284	673	22	0.8492	0.8492	NUM
faba-284	673	23	standard	standard	ADJ
faba-284	673	24	error	error	NOUN
faba-284	673	25	0.0098	0.0098	NUM
faba-284	673	26	observations	observation	NOUN
faba-284	673	27	1075	1075	NUM
faba-284	673	28	anova	anova	PROPN
faba-284	673	29	1/6/2022	1/6/2022	NUM
faba-284	673	30	10/5/2025	10/5/2025	NUM
faba-284	673	31	df	df	PROPN
faba-284	674	1	ss	ss	PROPN
faba-284	675	1	ms	ms	PROPN
faba-284	675	2	f	f	PROPN
faba-284	675	3	significance	significance	NOUN
faba-284	675	4	f	f	PROPN
faba-284	675	5	regression	regression	VERB
faba-284	675	6	1	1	NUM
faba-284	675	7	0.577390	0.577390	NUM
faba-284	675	8	0.577390	0.577390	NUM
faba-284	675	9	6049.540	6049.540	NUM
faba-284	675	10	0	0	NUM
faba-284	675	11	residual	residual	ADJ
faba-284	675	12	1073	1073	NUM
faba-284	675	13	0.102411	0.102411	NUM
faba-284	675	14	0.000095	0.000095	NUM
faba-284	675	15	total	total	ADJ
faba-284	675	16	1074	1074	NUM
faba-284	675	17	0.679801	0.679801	NUM
faba-284	675	18	coefficients	coefficient	NOUN
faba-284	675	19	standard	standard	ADJ
faba-284	675	20	error	error	NOUN
faba-284	675	21	t	t	NOUN
faba-284	675	22	stat	stat	NOUN
faba-284	675	23	p	p	NOUN
faba-284	675	24	-	-	PUNCT
faba-284	675	25	value	value	NOUN
faba-284	675	26	lower	low	ADJ
faba-284	675	27	95	95	NUM
faba-284	675	28	%	%	NOUN
faba-284	675	29	upper	upper	ADJ
faba-284	675	30	95	95	NUM
faba-284	675	31	%	%	NOUN
faba-284	675	32	lower	low	ADJ
faba-284	675	33	95.0	95.0	NUM
faba-284	675	34	%	%	NOUN
faba-284	675	35	upper	upper	ADJ
faba-284	675	36	95.0	95.0	NUM
faba-284	675	37	%	%	NOUN
faba-284	675	38	intercept	intercept	VERB
faba-284	675	39	0.00062	0.00062	NUM
faba-284	675	40	0.00030	0.00030	NUM
faba-284	675	41	2.06180	2.06180	NUM
faba-284	675	42	0.039467333	0.039467333	NUM
faba-284	675	43	0.00003	0.00003	NUM
faba-284	675	44	0.00120	0.00120	NUM
faba-284	675	45	0.00003	0.00003	NUM
faba-284	675	46	0.00120	0.00120	NUM
faba-284	675	47	x	x	SYM
faba-284	675	48	variable	variable	ADJ
faba-284	675	49	1	1	NUM
faba-284	675	50	0.84837	0.84837	NUM
faba-284	675	51	0.01091	0.01091	NUM
faba-284	675	52	77.78	77.78	NUM
faba-284	675	53	0	0	NUM
faba-284	675	54	0.82697	0.82697	NUM
faba-284	675	55	0.86977	0.86977	NUM
faba-284	675	56	0.82697	0.82697	NUM
faba-284	675	57	0.86977	0.86977	NUM
faba-284	675	58	source	source	NOUN
faba-284	675	59	:	:	PUNCT
faba-284	675	60	authors	author	NOUN
faba-284	675	61	’	’	PART
faba-284	675	62	data	data	PROPN
faba-284	675	63	alejandro	alejandro	PROPN
faba-284	675	64	rabinovich	rabinovich	PROPN
faba-284	675	65	/	/	SYM
faba-284	675	66	finance	finance	NOUN
faba-284	675	67	,	,	PUNCT
faba-284	675	68	accounting	accounting	NOUN
faba-284	675	69	and	and	CCONJ
faba-284	675	70	business	business	NOUN
faba-284	675	71	analysis	analysis	NOUN
faba-284	675	72	,	,	PUNCT
faba-284	675	73	volume	volume	NOUN
faba-284	675	74	7	7	NUM
faba-284	675	75	,	,	PUNCT
faba-284	675	76	issue	issue	NOUN
faba-284	675	77	2	2	NUM
faba-284	675	78	,	,	PUNCT
faba-284	675	79	2025	2025	NUM
faba-284	675	80	280	280	NUM
faba-284	675	81	table	table	NOUN
faba-284	675	82	19	19	NUM
faba-284	675	83	.	.	PUNCT
faba-284	676	1	regression	regression	NOUN
faba-284	676	2	results	result	NOUN
faba-284	676	3	for	for	ADP
faba-284	676	4	the	the	DET
faba-284	676	5	period	period	NOUN
faba-284	676	6	june	june	PROPN
faba-284	676	7	2023	2023	NUM
faba-284	676	8	–	–	PUNCT
faba-284	676	9	may	may	AUX
faba-284	676	10	2025	2025	NUM
faba-284	676	11	regression	regression	VERB
faba-284	676	12	statistics	statistic	NOUN
faba-284	676	13	multiple	multiple	ADJ
faba-284	676	14	r	r	NOUN
faba-284	676	15	1	1	NUM
faba-284	676	16	r	r	NOUN
faba-284	676	17	square	square	ADJ
faba-284	676	18	1	1	NUM
faba-284	676	19	adjusted	adjust	VERB
faba-284	676	20	r	r	NOUN
faba-284	676	21	square	square	ADJ
faba-284	676	22	1	1	NUM
faba-284	676	23	standard	standard	ADJ
faba-284	676	24	error	error	NOUN
faba-284	676	25	0	0	NUM
faba-284	676	26	observations	observation	NOUN
faba-284	676	27	710	710	NUM
faba-284	676	28	anova	anova	PROPN
faba-284	676	29	1/6/2023	1/6/2023	NUM
faba-284	676	30	10/5/2025	10/5/2025	NUM
faba-284	676	31	df	df	PROPN
faba-284	676	32	ss	ss	PROPN
faba-284	677	1	ms	ms	PROPN
faba-284	677	2	f	f	PROPN
faba-284	677	3	significance	significance	NOUN
faba-284	677	4	f	f	PROPN
faba-284	677	5	regression	regression	VERB
faba-284	677	6	1	1	NUM
faba-284	677	7	0.474147869	0.474147869	NUM
faba-284	677	8	0.474147869	0.474147869	NUM
faba-284	677	9	residual	residual	ADJ
faba-284	677	10	708	708	NUM
faba-284	677	11	2.36968e-32	2.36968e-32	NUM
faba-284	677	12	3.34701e-35	3.34701e-35	NUM
faba-284	677	13	total	total	NOUN
faba-284	677	14	709	709	NUM
faba-284	677	15	0.474147869	0.474147869	NUM
faba-284	677	16	coefficients	coefficient	NOUN
faba-284	677	17	standard	standard	ADJ
faba-284	677	18	error	error	NOUN
faba-284	677	19	t	t	NOUN
faba-284	677	20	stat	stat	NOUN
faba-284	677	21	p	p	NOUN
faba-284	677	22	-	-	PUNCT
faba-284	677	23	value	value	NOUN
faba-284	677	24	lower	low	ADJ
faba-284	677	25	95	95	NUM
faba-284	677	26	%	%	NOUN
faba-284	677	27	upper	upper	ADJ
faba-284	677	28	95	95	NUM
faba-284	677	29	%	%	NOUN
faba-284	677	30	lower	low	ADJ
faba-284	677	31	95.0	95.0	NUM
faba-284	677	32	%	%	NOUN
faba-284	677	33	upper	upper	ADJ
faba-284	677	34	95.0	95.0	NUM
faba-284	677	35	%	%	NOUN
faba-284	677	36	intercept	intercept	NOUN
faba-284	677	37	0	0	NUM
faba-284	677	38	x	x	NOUN
faba-284	677	39	variable	variable	ADJ
faba-284	677	40	1	1	NUM
faba-284	677	41	1	1	NUM
faba-284	677	42	source	source	NOUN
faba-284	677	43	:	:	PUNCT
faba-284	677	44	authors	author	NOUN
faba-284	677	45	’	’	PART
faba-284	677	46	data	datum	NOUN
faba-284	677	47	table	table	NOUN
faba-284	677	48	20	20	NUM
faba-284	677	49	.	.	PUNCT
faba-284	678	1	regression	regression	NOUN
faba-284	678	2	results	result	NOUN
faba-284	678	3	for	for	ADP
faba-284	678	4	the	the	DET
faba-284	678	5	period	period	NOUN
faba-284	678	6	june	june	PROPN
faba-284	678	7	2024	2024	NUM
faba-284	678	8	–	–	PUNCT
faba-284	678	9	may	may	AUX
faba-284	678	10	2025	2025	NUM
faba-284	678	11	regression	regression	VERB
faba-284	678	12	statistics	statistic	NOUN
faba-284	678	13	multiple	multiple	ADJ
faba-284	678	14	r	r	NOUN
faba-284	678	15	1	1	NUM
faba-284	678	16	r	r	NOUN
faba-284	678	17	square	square	ADJ
faba-284	678	18	1	1	NUM
faba-284	678	19	adjusted	adjust	VERB
faba-284	678	20	r	r	NOUN
faba-284	678	21	square	square	ADJ
faba-284	678	22	1	1	NUM
faba-284	678	23	standard	standard	ADJ
faba-284	678	24	error	error	NOUN
faba-284	678	25	0	0	NUM
faba-284	678	26	observations	observation	NOUN
faba-284	678	27	344	344	NUM
faba-284	679	1	anova	anova	PROPN
faba-284	679	2	1/6/2024	1/6/2024	NUM
faba-284	679	3	10/5/2025	10/5/2025	NUM
faba-284	679	4	df	df	PROPN
faba-284	679	5	ss	ss	PROPN
faba-284	680	1	ms	ms	PROPN
faba-284	680	2	f	f	PROPN
faba-284	680	3	significance	significance	NOUN
faba-284	680	4	f	f	PROPN
faba-284	680	5	regression	regression	VERB
faba-284	680	6	1	1	NUM
faba-284	680	7	0.240305728	0.240305728	NUM
faba-284	680	8	0.240305728	0.240305728	NUM
faba-284	680	9	residual	residual	ADJ
faba-284	680	10	342	342	NUM
faba-284	680	11	0	0	NUM
faba-284	680	12	0	0	NUM
faba-284	680	13	total	total	NOUN
faba-284	680	14	343	343	NUM
faba-284	680	15	0.240305728	0.240305728	NUM
faba-284	680	16	coefficients	coefficient	NOUN
faba-284	680	17	standard	standard	ADJ
faba-284	680	18	error	error	NOUN
faba-284	680	19	t	t	NOUN
faba-284	680	20	stat	stat	NOUN
faba-284	680	21	p	p	NOUN
faba-284	680	22	-	-	PUNCT
faba-284	680	23	value	value	NOUN
faba-284	680	24	lower	low	ADJ
faba-284	680	25	95	95	NUM
faba-284	680	26	%	%	NOUN
faba-284	680	27	upper	upper	ADJ
faba-284	680	28	95	95	NUM
faba-284	680	29	%	%	NOUN
faba-284	680	30	lower	low	ADJ
faba-284	680	31	95.0	95.0	NUM
faba-284	680	32	%	%	NOUN
faba-284	680	33	upper	upper	ADJ
faba-284	680	34	95.0	95.0	NUM
faba-284	680	35	%	%	NOUN
faba-284	680	36	intercept	intercept	NOUN
faba-284	680	37	0	0	NUM
faba-284	680	38	x	x	NOUN
faba-284	680	39	variable	variable	ADJ
faba-284	680	40	1	1	NUM
faba-284	680	41	1	1	NUM
faba-284	680	42	source	source	NOUN
faba-284	680	43	:	:	PUNCT
faba-284	680	44	authors	author	NOUN
faba-284	680	45	’	’	PART
faba-284	680	46	data	datum	NOUN
faba-284	680	47	note	note	NOUN
faba-284	680	48	:	:	PUNCT
faba-284	680	49	in	in	ADP
faba-284	680	50	the	the	DET
faba-284	680	51	periods	period	NOUN
faba-284	680	52	june	june	PROPN
faba-284	680	53	2023	2023	NUM
faba-284	680	54	–	–	PUNCT
faba-284	680	55	may	may	AUX
faba-284	680	56	2025	2025	NUM
faba-284	680	57	and	and	CCONJ
faba-284	680	58	june	june	PROPN
faba-284	680	59	2024	2024	NUM
faba-284	680	60	–	–	PUNCT
faba-284	680	61	may	may	PROPN
faba-284	680	62	2025	2025	NUM
faba-284	680	63	(	(	PUNCT
faba-284	680	64	tables	table	NOUN
faba-284	680	65	19	19	NUM
faba-284	680	66	and	and	CCONJ
faba-284	680	67	20	20	NUM
faba-284	680	68	)	)	PUNCT
faba-284	680	69	,	,	PUNCT
faba-284	680	70	the	the	DET
faba-284	680	71	strategy	strategy	NOUN
faba-284	680	72	and	and	CCONJ
faba-284	680	73	benchmark	benchmark	NOUN
faba-284	680	74	returns	return	NOUN
faba-284	680	75	are	be	AUX
faba-284	680	76	almost	almost	ADV
faba-284	680	77	perfectly	perfectly	ADV
faba-284	680	78	collinear	collinear	ADJ
faba-284	680	79	,	,	PUNCT
faba-284	680	80	so	so	SCONJ
faba-284	680	81	the	the	DET
faba-284	680	82	regression	regression	NOUN
faba-284	680	83	is	be	AUX
faba-284	680	84	degenerate	degenerate	ADJ
faba-284	680	85	.	.	PUNCT
faba-284	681	1	α	α	X
faba-284	681	2	=	=	NOUN
faba-284	681	3	0	0	PROPN
faba-284	681	4	and	and	CCONJ
faba-284	681	5	β	β	X
faba-284	681	6	=	=	SYM
faba-284	681	7	1	1	NUM
faba-284	681	8	are	be	AUX
faba-284	681	9	implied	imply	VERB
faba-284	681	10	mechanically	mechanically	ADV
faba-284	681	11	;	;	PUNCT
faba-284	681	12	residual	residual	ADJ
faba-284	681	13	variance	variance	NOUN
faba-284	681	14	is	be	AUX
faba-284	681	15	effectively	effectively	ADV
faba-284	681	16	zero	zero	NUM
faba-284	681	17	,	,	PUNCT
faba-284	681	18	and	and	CCONJ
faba-284	681	19	standard	standard	ADJ
faba-284	681	20	errors	error	NOUN
faba-284	681	21	,	,	PUNCT
faba-284	681	22	test	test	NOUN
faba-284	681	23	statistics	statistic	NOUN
faba-284	681	24	and	and	CCONJ
faba-284	681	25	confidence	confidence	NOUN
faba-284	681	26	intervals	interval	NOUN
faba-284	681	27	are	be	AUX
faba-284	681	28	therefore	therefore	ADV
faba-284	681	29	not	not	PART
faba-284	681	30	reported	report	VERB
faba-284	681	31	.	.	PUNCT
faba-284	682	1	alejandro	alejandro	PROPN
faba-284	682	2	rabinovich	rabinovich	PROPN
faba-284	682	3	/	/	SYM
faba-284	682	4	finance	finance	NOUN
faba-284	682	5	,	,	PUNCT
faba-284	682	6	accounting	accounting	NOUN
faba-284	682	7	and	and	CCONJ
faba-284	682	8	business	business	NOUN
faba-284	682	9	analysis	analysis	NOUN
faba-284	682	10	,	,	PUNCT
faba-284	682	11	volume	volume	NOUN
faba-284	682	12	7	7	NUM
faba-284	682	13	,	,	PUNCT
faba-284	682	14	issue	issue	NOUN
faba-284	682	15	2	2	NUM
faba-284	682	16	,	,	PUNCT
faba-284	682	17	2025	2025	NUM
faba-284	682	18	281	281	NUM
faba-284	682	19	source	source	NOUN
faba-284	682	20	:	:	PUNCT
faba-284	682	21	authors	author	NOUN
faba-284	682	22	’	’	PART
faba-284	682	23	data	datum	NOUN
faba-284	682	24	figure	figure	NOUN
faba-284	682	25	12	12	NUM
faba-284	682	26	.	.	PUNCT
faba-284	683	1	equity	equity	NOUN
faba-284	683	2	curves	curve	NOUN
faba-284	683	3	$	$	SYM
faba-284	683	4	1	1	NUM
faba-284	683	5	 	 	SPACE
faba-284	683	6	000	000	NUM
faba-284	684	1	$	$	SYM
faba-284	684	2	200	200	NUM
faba-284	684	3	 	 	SPACE
faba-284	684	4	001	001	NUM
faba-284	684	5	 	 	SPACE
faba-284	684	6	000	000	NUM
faba-284	684	7	$	$	SYM
faba-284	684	8	400	400	NUM
faba-284	684	9	 	 	SPACE
faba-284	684	10	001	001	NUM
faba-284	684	11	 	 	SPACE
faba-284	684	12	000	000	NUM
faba-284	684	13	$	$	SYM
faba-284	684	14	600	600	NUM
faba-284	684	15	 	 	SPACE
faba-284	684	16	001	001	NUM
faba-284	684	17	 	 	SPACE
faba-284	684	18	000	000	NUM
faba-284	684	19	$	$	SYM
faba-284	684	20	800	800	NUM
faba-284	684	21	 	 	SPACE
faba-284	684	22	001	001	NUM
faba-284	684	23	 	 	SPACE
faba-284	684	24	000	000	NUM
faba-284	684	25	$	$	SYM
faba-284	684	26	1	1	NUM
faba-284	684	27	 	 	SPACE
faba-284	684	28	000	000	NUM
faba-284	684	29	 	 	SPACE
faba-284	684	30	001	001	NUM
faba-284	684	31	 	 	SPACE
faba-284	684	32	000	000	NUM
faba-284	684	33	$	$	SYM
faba-284	684	34	1	1	NUM
faba-284	684	35	 	 	SPACE
faba-284	684	36	200	200	NUM
faba-284	684	37	 	 	SPACE
faba-284	684	38	001	001	NUM
faba-284	684	39	 	 	SPACE
faba-284	684	40	000	000	NUM
faba-284	684	41	1	1	NUM
faba-284	684	42	.6	.6	NUM
faba-284	685	1	.2	.2	NUM
faba-284	685	2	0	0	NUM
faba-284	685	3	1	1	NUM
faba-284	685	4	2	2	NUM
faba-284	685	5	1	1	NUM
faba-284	685	6	.3	.3	NUM
faba-284	686	1	.2	.2	NUM
faba-284	686	2	0	0	NUM
faba-284	686	3	1	1	NUM
faba-284	686	4	3	3	NUM
faba-284	686	5	1	1	NUM
faba-284	686	6	.1	.1	NUM
faba-284	686	7	2	2	NUM
faba-284	687	1	.2	.2	NUM
faba-284	687	2	0	0	NUM
faba-284	687	3	1	1	NUM
faba-284	687	4	3	3	NUM
faba-284	687	5	1	1	NUM
faba-284	687	6	.9	.9	NUM
faba-284	688	1	.2	.2	NUM
faba-284	688	2	0	0	NUM
faba-284	688	3	1	1	NUM
faba-284	688	4	4	4	NUM
faba-284	688	5	1	1	NUM
faba-284	688	6	.6	.6	NUM
faba-284	689	1	.2	.2	NUM
faba-284	689	2	0	0	NUM
faba-284	689	3	1	1	NUM
faba-284	689	4	5	5	NUM
faba-284	689	5	1	1	NUM
faba-284	689	6	.3	.3	NUM
faba-284	690	1	.2	.2	NUM
faba-284	690	2	0	0	NUM
faba-284	690	3	1	1	NUM
faba-284	690	4	6	6	NUM
faba-284	690	5	1	1	NUM
faba-284	690	6	.1	.1	NUM
faba-284	690	7	2	2	NUM
faba-284	690	8	.2	.2	NUM
faba-284	690	9	0	0	NUM
faba-284	690	10	1	1	NUM
faba-284	690	11	6	6	NUM
faba-284	690	12	1	1	NUM
faba-284	690	13	.9	.9	NUM
faba-284	691	1	.2	.2	NUM
faba-284	691	2	0	0	NUM
faba-284	691	3	1	1	NUM
faba-284	691	4	7	7	NUM
faba-284	691	5	1	1	NUM
faba-284	691	6	.6	.6	NUM
faba-284	692	1	.2	.2	NUM
faba-284	692	2	0	0	NUM
faba-284	692	3	1	1	NUM
faba-284	692	4	8	8	NUM
faba-284	692	5	1	1	NUM
faba-284	692	6	.3	.3	NUM
faba-284	692	7	.2	.2	NUM
faba-284	692	8	0	0	NUM
faba-284	692	9	1	1	NUM
faba-284	692	10	9	9	NUM
faba-284	692	11	1	1	NUM
faba-284	692	12	.1	.1	NUM
faba-284	692	13	2	2	NUM
faba-284	692	14	.2	.2	NUM
faba-284	692	15	0	0	NUM
faba-284	692	16	1	1	NUM
faba-284	692	17	9	9	NUM
faba-284	692	18	1	1	NUM
faba-284	692	19	.9	.9	NUM
faba-284	693	1	.2	.2	NUM
faba-284	693	2	0	0	NUM
faba-284	693	3	2	2	NUM
faba-284	693	4	0	0	NUM
faba-284	693	5	1	1	NUM
faba-284	693	6	.6	.6	NUM
faba-284	694	1	.2	.2	NUM
faba-284	694	2	0	0	NUM
faba-284	694	3	2	2	NUM
faba-284	694	4	1	1	NUM
faba-284	694	5	1	1	NUM
faba-284	694	6	.3	.3	NUM
faba-284	695	1	.2	.2	NUM
faba-284	695	2	0	0	NUM
faba-284	695	3	2	2	NUM
faba-284	695	4	2	2	NUM
faba-284	695	5	1	1	NUM
faba-284	695	6	.1	.1	NUM
faba-284	695	7	2	2	NUM
faba-284	696	1	.2	.2	NUM
faba-284	696	2	0	0	NUM
faba-284	696	3	2	2	NUM
faba-284	696	4	2	2	NUM
faba-284	696	5	1	1	NUM
faba-284	696	6	.9	.9	NUM
faba-284	697	1	.2	.2	NUM
faba-284	697	2	0	0	NUM
faba-284	697	3	2	2	NUM
faba-284	697	4	3	3	NUM
faba-284	697	5	1	1	NUM
faba-284	697	6	.6	.6	NUM
faba-284	698	1	.2	.2	NUM
faba-284	698	2	0	0	NUM
faba-284	698	3	2	2	NUM
faba-284	698	4	4	4	NUM
faba-284	698	5	1	1	NUM
faba-284	698	6	.3	.3	NUM
faba-284	698	7	.2	.2	NUM
faba-284	698	8	0	0	NUM
faba-284	698	9	2	2	NUM
faba-284	698	10	5	5	NUM
faba-284	698	11	equity	equity	NOUN
faba-284	698	12	curve	curve	NOUN
faba-284	698	13	6/2012	6/2012	PROPN
faba-284	698	14	-5/2025	-5/2025	ADJ
faba-284	698	15	benchmark	benchmark	NOUN
faba-284	698	16	strategy	strategy	NOUN
faba-284	698	17	$	$	SYM
faba-284	698	18	1	1	NUM
faba-284	698	19	 	 	SPACE
faba-284	698	20	000	000	NUM
faba-284	698	21	$	$	SYM
faba-284	698	22	10	10	NUM
faba-284	698	23	 	 	SPACE
faba-284	698	24	001	001	NUM
faba-284	698	25	 	 	SPACE
faba-284	698	26	000	000	NUM
faba-284	698	27	$	$	SYM
faba-284	698	28	20	20	NUM
faba-284	698	29	 	 	SPACE
faba-284	698	30	001	001	NUM
faba-284	698	31	 	 	SPACE
faba-284	698	32	000	000	NUM
faba-284	698	33	$	$	SYM
faba-284	698	34	30	30	NUM
faba-284	698	35	 	 	SPACE
faba-284	698	36	001	001	NUM
faba-284	698	37	 	 	SPACE
faba-284	698	38	000	000	NUM
faba-284	698	39	$	$	SYM
faba-284	698	40	40	40	NUM
faba-284	698	41	 	 	SPACE
faba-284	698	42	001	001	NUM
faba-284	698	43	 	 	SPACE
faba-284	698	44	000	000	NUM
faba-284	698	45	$	$	SYM
faba-284	698	46	50	50	NUM
faba-284	698	47	 	 	SPACE
faba-284	698	48	001	001	NUM
faba-284	698	49	 	 	SPACE
faba-284	698	50	000	000	NUM
faba-284	698	51	1	1	NUM
faba-284	698	52	.9	.9	NUM
faba-284	699	1	.2	.2	NUM
faba-284	699	2	0	0	NUM
faba-284	699	3	1	1	NUM
faba-284	699	4	3	3	NUM
faba-284	699	5	1	1	NUM
faba-284	699	6	.5	.5	NUM
faba-284	700	1	.2	.2	NUM
faba-284	700	2	0	0	NUM
faba-284	700	3	1	1	NUM
faba-284	700	4	4	4	NUM
faba-284	700	5	1	1	NUM
faba-284	700	6	.1	.1	NUM
faba-284	701	1	.2	.2	NUM
faba-284	701	2	0	0	NUM
faba-284	701	3	1	1	NUM
faba-284	701	4	5	5	NUM
faba-284	701	5	1	1	NUM
faba-284	701	6	.9	.9	NUM
faba-284	702	1	.2	.2	NUM
faba-284	702	2	0	0	NUM
faba-284	702	3	1	1	NUM
faba-284	702	4	5	5	NUM
faba-284	702	5	1	1	NUM
faba-284	702	6	.5	.5	NUM
faba-284	703	1	.2	.2	NUM
faba-284	703	2	0	0	NUM
faba-284	703	3	1	1	NUM
faba-284	703	4	6	6	NUM
faba-284	703	5	1	1	NUM
faba-284	703	6	.1	.1	NUM
faba-284	704	1	.2	.2	NUM
faba-284	704	2	0	0	NUM
faba-284	704	3	1	1	NUM
faba-284	704	4	7	7	NUM
faba-284	704	5	1	1	NUM
faba-284	704	6	.9	.9	NUM
faba-284	705	1	.2	.2	NUM
faba-284	705	2	0	0	NUM
faba-284	705	3	1	1	NUM
faba-284	705	4	7	7	NUM
faba-284	705	5	1	1	NUM
faba-284	705	6	.5	.5	NUM
faba-284	706	1	.2	.2	NUM
faba-284	706	2	0	0	NUM
faba-284	706	3	1	1	NUM
faba-284	706	4	8	8	NUM
faba-284	706	5	1	1	NUM
faba-284	706	6	.1	.1	NUM
faba-284	707	1	.2	.2	NUM
faba-284	707	2	0	0	NUM
faba-284	707	3	1	1	NUM
faba-284	707	4	9	9	NUM
faba-284	707	5	1	1	NUM
faba-284	707	6	.9	.9	NUM
faba-284	708	1	.2	.2	NUM
faba-284	708	2	0	0	NUM
faba-284	708	3	1	1	NUM
faba-284	708	4	9	9	NUM
faba-284	708	5	1	1	NUM
faba-284	708	6	.5	.5	NUM
faba-284	708	7	.2	.2	NUM
faba-284	708	8	0	0	NUM
faba-284	708	9	2	2	NUM
faba-284	708	10	0	0	NUM
faba-284	708	11	1	1	NUM
faba-284	708	12	.1	.1	NUM
faba-284	709	1	.2	.2	NUM
faba-284	709	2	0	0	NUM
faba-284	709	3	2	2	NUM
faba-284	709	4	1	1	NUM
faba-284	709	5	1	1	NUM
faba-284	709	6	.9	.9	NUM
faba-284	710	1	.2	.2	NUM
faba-284	710	2	0	0	NUM
faba-284	710	3	2	2	NUM
faba-284	710	4	1	1	NUM
faba-284	710	5	1	1	NUM
faba-284	710	6	.5	.5	NUM
faba-284	711	1	.2	.2	NUM
faba-284	711	2	0	0	NUM
faba-284	711	3	2	2	NUM
faba-284	711	4	2	2	NUM
faba-284	711	5	1	1	NUM
faba-284	711	6	.1	.1	NUM
faba-284	712	1	.2	.2	NUM
faba-284	712	2	0	0	NUM
faba-284	712	3	2	2	NUM
faba-284	712	4	3	3	NUM
faba-284	712	5	1	1	NUM
faba-284	712	6	.9	.9	NUM
faba-284	713	1	.2	.2	NUM
faba-284	713	2	0	0	NUM
faba-284	713	3	2	2	NUM
faba-284	713	4	3	3	NUM
faba-284	713	5	1	1	NUM
faba-284	713	6	.5	.5	NUM
faba-284	714	1	.2	.2	NUM
faba-284	714	2	0	0	NUM
faba-284	714	3	2	2	NUM
faba-284	714	4	4	4	NUM
faba-284	714	5	1	1	NUM
faba-284	714	6	.1	.1	NUM
faba-284	714	7	.2	.2	NUM
faba-284	714	8	0	0	NUM
faba-284	714	9	2	2	NUM
faba-284	714	10	5	5	NUM
faba-284	714	11	equity	equity	NOUN
faba-284	714	12	curve	curve	NOUN
faba-284	714	13	9/2013	9/2013	PROPN
faba-284	714	14	5/2025	5/2025	NUM
faba-284	714	15	benchmark	benchmark	NOUN
faba-284	714	16	strategy	strategy	NOUN
faba-284	714	17	$	$	SYM
faba-284	714	18	1	1	NUM
faba-284	714	19	 	 	SPACE
faba-284	714	20	000	000	NUM
faba-284	714	21	$	$	SYM
faba-284	714	22	1	1	NUM
faba-284	714	23	 	 	SPACE
faba-284	714	24	001	001	NUM
faba-284	714	25	 	 	SPACE
faba-284	714	26	000	000	NUM
faba-284	714	27	$	$	SYM
faba-284	714	28	2	2	NUM
faba-284	714	29	 	 	SPACE
faba-284	714	30	001	001	NUM
faba-284	714	31	 	 	SPACE
faba-284	714	32	000	000	NUM
faba-284	714	33	$	$	SYM
faba-284	714	34	3	3	NUM
faba-284	714	35	 	 	SPACE
faba-284	714	36	001	001	NUM
faba-284	714	37	 	 	SPACE
faba-284	714	38	000	000	NUM
faba-284	714	39	$	$	SYM
faba-284	714	40	4	4	NUM
faba-284	714	41	 	 	SPACE
faba-284	714	42	001	001	NUM
faba-284	714	43	 	 	SPACE
faba-284	714	44	000	000	NUM
faba-284	714	45	$	$	SYM
faba-284	714	46	5	5	NUM
faba-284	714	47	 	 	SPACE
faba-284	714	48	001	001	NUM
faba-284	714	49	 	 	SPACE
faba-284	714	50	000	000	NUM
faba-284	714	51	$	$	SYM
faba-284	714	52	6	6	NUM
faba-284	714	53	 	 	SPACE
faba-284	714	54	001	001	NUM
faba-284	714	55	 	 	SPACE
faba-284	714	56	000	000	NUM
faba-284	714	57	1	1	NUM
faba-284	714	58	.6	.6	NUM
faba-284	715	1	.2	.2	NUM
faba-284	715	2	0	0	NUM
faba-284	715	3	1	1	NUM
faba-284	715	4	4	4	NUM
faba-284	715	5	1	1	NUM
faba-284	715	6	.2	.2	NUM
faba-284	716	1	.2	.2	NUM
faba-284	716	2	0	0	NUM
faba-284	716	3	1	1	NUM
faba-284	716	4	5	5	NUM
faba-284	716	5	1	1	NUM
faba-284	716	6	.1	.1	NUM
faba-284	716	7	0	0	NUM
faba-284	717	1	.2	.2	NUM
faba-284	717	2	0	0	NUM
faba-284	717	3	1	1	NUM
faba-284	717	4	5	5	NUM
faba-284	717	5	1	1	NUM
faba-284	717	6	.6	.6	NUM
faba-284	718	1	.2	.2	NUM
faba-284	718	2	0	0	NUM
faba-284	718	3	1	1	NUM
faba-284	718	4	6	6	NUM
faba-284	718	5	1	1	NUM
faba-284	718	6	.2	.2	NUM
faba-284	718	7	.2	.2	NUM
faba-284	718	8	0	0	NUM
faba-284	718	9	1	1	NUM
faba-284	718	10	7	7	NUM
faba-284	718	11	1	1	NUM
faba-284	718	12	.1	.1	NUM
faba-284	718	13	0	0	NUM
faba-284	719	1	.2	.2	NUM
faba-284	719	2	0	0	NUM
faba-284	719	3	1	1	NUM
faba-284	719	4	7	7	NUM
faba-284	719	5	1	1	NUM
faba-284	719	6	.6	.6	NUM
faba-284	720	1	.2	.2	NUM
faba-284	720	2	0	0	NUM
faba-284	720	3	1	1	NUM
faba-284	720	4	8	8	NUM
faba-284	720	5	1	1	NUM
faba-284	720	6	.2	.2	NUM
faba-284	720	7	.2	.2	NUM
faba-284	720	8	0	0	NUM
faba-284	720	9	1	1	NUM
faba-284	720	10	9	9	NUM
faba-284	720	11	1	1	NUM
faba-284	720	12	.1	.1	NUM
faba-284	720	13	0	0	NUM
faba-284	721	1	.2	.2	NUM
faba-284	721	2	0	0	NUM
faba-284	721	3	1	1	NUM
faba-284	721	4	9	9	NUM
faba-284	721	5	1	1	NUM
faba-284	721	6	.6	.6	NUM
faba-284	722	1	.2	.2	NUM
faba-284	722	2	0	0	NUM
faba-284	722	3	2	2	NUM
faba-284	722	4	0	0	NUM
faba-284	722	5	1	1	NUM
faba-284	722	6	.2	.2	NUM
faba-284	723	1	.2	.2	NUM
faba-284	723	2	0	0	NUM
faba-284	723	3	2	2	NUM
faba-284	723	4	1	1	NUM
faba-284	723	5	1	1	NUM
faba-284	723	6	.1	.1	NUM
faba-284	723	7	0	0	NUM
faba-284	724	1	.2	.2	NUM
faba-284	724	2	0	0	NUM
faba-284	724	3	2	2	NUM
faba-284	724	4	1	1	NUM
faba-284	724	5	1	1	NUM
faba-284	724	6	.6	.6	NUM
faba-284	725	1	.2	.2	NUM
faba-284	725	2	0	0	NUM
faba-284	725	3	2	2	NUM
faba-284	725	4	2	2	NUM
faba-284	725	5	1	1	NUM
faba-284	725	6	.2	.2	NUM
faba-284	726	1	.2	.2	NUM
faba-284	726	2	0	0	NUM
faba-284	726	3	2	2	NUM
faba-284	726	4	3	3	NUM
faba-284	726	5	1	1	NUM
faba-284	726	6	.1	.1	NUM
faba-284	726	7	0	0	NUM
faba-284	727	1	.2	.2	NUM
faba-284	727	2	0	0	NUM
faba-284	727	3	2	2	NUM
faba-284	727	4	3	3	NUM
faba-284	727	5	1	1	NUM
faba-284	727	6	.6	.6	NUM
faba-284	728	1	.2	.2	NUM
faba-284	728	2	0	0	NUM
faba-284	728	3	2	2	NUM
faba-284	728	4	4	4	NUM
faba-284	728	5	1	1	NUM
faba-284	728	6	.2	.2	NUM
faba-284	728	7	.2	.2	NUM
faba-284	728	8	0	0	NUM
faba-284	728	9	2	2	NUM
faba-284	728	10	5	5	NUM
faba-284	728	11	equity	equity	NOUN
faba-284	728	12	curve	curve	NOUN
faba-284	728	13	6/2014	6/2014	PROPN
faba-284	728	14	-5/2025	-5/2025	ADJ
faba-284	728	15	benchmark	benchmark	NOUN
faba-284	728	16	strategy	strategy	NOUN
faba-284	728	17	alejandro	alejandro	PROPN
faba-284	728	18	rabinovich	rabinovich	PROPN
faba-284	728	19	/	/	SYM
faba-284	728	20	finance	finance	NOUN
faba-284	728	21	,	,	PUNCT
faba-284	728	22	accounting	accounting	NOUN
faba-284	728	23	and	and	CCONJ
faba-284	728	24	business	business	NOUN
faba-284	728	25	analysis	analysis	NOUN
faba-284	728	26	,	,	PUNCT
faba-284	728	27	volume	volume	NOUN
faba-284	728	28	7	7	NUM
faba-284	728	29	,	,	PUNCT
faba-284	728	30	issue	issue	NOUN
faba-284	728	31	2	2	NUM
faba-284	728	32	,	,	PUNCT
faba-284	728	33	2025	2025	NUM
faba-284	728	34	282	282	NUM
faba-284	728	35	source	source	NOUN
faba-284	728	36	:	:	PUNCT
faba-284	728	37	authors	author	NOUN
faba-284	728	38	’	’	PART
faba-284	728	39	data	datum	NOUN
faba-284	728	40	figure	figure	NOUN
faba-284	728	41	13	13	NUM
faba-284	728	42	.	.	PUNCT
faba-284	729	1	equity	equity	NOUN
faba-284	729	2	curves	curve	NOUN
faba-284	729	3	pt	pt	VERB
faba-284	729	4	2	2	NUM
faba-284	729	5	$	$	SYM
faba-284	729	6	1	1	NUM
faba-284	729	7	 	 	SPACE
faba-284	729	8	000	000	NUM
faba-284	729	9	$	$	SYM
faba-284	729	10	2	2	NUM
faba-284	729	11	 	 	SPACE
faba-284	729	12	001	001	NUM
faba-284	729	13	 	 	SPACE
faba-284	729	14	000	000	NUM
faba-284	729	15	$	$	SYM
faba-284	729	16	4	4	NUM
faba-284	729	17	 	 	SPACE
faba-284	729	18	001	001	NUM
faba-284	729	19	 	 	SPACE
faba-284	729	20	000	000	NUM
faba-284	729	21	$	$	SYM
faba-284	729	22	6	6	NUM
faba-284	729	23	 	 	SPACE
faba-284	729	24	001	001	NUM
faba-284	729	25	 	 	SPACE
faba-284	729	26	000	000	NUM
faba-284	729	27	$	$	SYM
faba-284	729	28	8	8	NUM
faba-284	729	29	 	 	SPACE
faba-284	729	30	001	001	NUM
faba-284	729	31	 	 	SPACE
faba-284	729	32	000	000	NUM
faba-284	729	33	1	1	NUM
faba-284	729	34	.2	.2	NUM
faba-284	730	1	.2	.2	NUM
faba-284	730	2	0	0	NUM
faba-284	730	3	1	1	NUM
faba-284	730	4	5	5	NUM
faba-284	730	5	1	1	NUM
faba-284	730	6	.9	.9	NUM
faba-284	731	1	.2	.2	NUM
faba-284	731	2	0	0	NUM
faba-284	731	3	1	1	NUM
faba-284	731	4	5	5	NUM
faba-284	731	5	1	1	NUM
faba-284	731	6	.4	.4	NUM
faba-284	732	1	.2	.2	NUM
faba-284	732	2	0	0	NUM
faba-284	732	3	1	1	NUM
faba-284	732	4	6	6	NUM
faba-284	732	5	1	1	NUM
faba-284	732	6	.1	.1	NUM
faba-284	732	7	1	1	NUM
faba-284	733	1	.2	.2	NUM
faba-284	733	2	0	0	NUM
faba-284	733	3	1	1	NUM
faba-284	733	4	6	6	NUM
faba-284	733	5	1	1	NUM
faba-284	733	6	.6	.6	NUM
faba-284	734	1	.2	.2	NUM
faba-284	734	2	0	0	NUM
faba-284	734	3	1	1	NUM
faba-284	734	4	7	7	NUM
faba-284	734	5	1	1	NUM
faba-284	734	6	.1	.1	NUM
faba-284	735	1	.2	.2	NUM
faba-284	735	2	0	0	NUM
faba-284	735	3	1	1	NUM
faba-284	735	4	8	8	NUM
faba-284	735	5	1	1	NUM
faba-284	735	6	.8	.8	NUM
faba-284	736	1	.2	.2	NUM
faba-284	736	2	0	0	NUM
faba-284	736	3	1	1	NUM
faba-284	736	4	8	8	NUM
faba-284	736	5	1	1	NUM
faba-284	736	6	.3	.3	NUM
faba-284	736	7	.2	.2	NUM
faba-284	736	8	0	0	NUM
faba-284	736	9	1	1	NUM
faba-284	736	10	9	9	NUM
faba-284	736	11	1	1	NUM
faba-284	736	12	.1	.1	NUM
faba-284	736	13	0	0	NUM
faba-284	737	1	.2	.2	NUM
faba-284	737	2	0	0	NUM
faba-284	737	3	1	1	NUM
faba-284	737	4	9	9	NUM
faba-284	737	5	1	1	NUM
faba-284	737	6	.5	.5	NUM
faba-284	738	1	.2	.2	NUM
faba-284	738	2	0	0	NUM
faba-284	738	3	2	2	NUM
faba-284	738	4	0	0	NUM
faba-284	738	5	1	1	NUM
faba-284	738	6	.1	.1	NUM
faba-284	738	7	2	2	NUM
faba-284	739	1	.2	.2	NUM
faba-284	739	2	0	0	NUM
faba-284	739	3	2	2	NUM
faba-284	739	4	0	0	NUM
faba-284	739	5	1	1	NUM
faba-284	739	6	.7	.7	NUM
faba-284	739	7	.2	.2	NUM
faba-284	739	8	0	0	NUM
faba-284	739	9	2	2	NUM
faba-284	739	10	1	1	NUM
faba-284	739	11	1	1	NUM
faba-284	739	12	.2	.2	NUM
faba-284	740	1	.2	.2	NUM
faba-284	740	2	0	0	NUM
faba-284	740	3	2	2	NUM
faba-284	740	4	2	2	NUM
faba-284	740	5	1	1	NUM
faba-284	740	6	.9	.9	NUM
faba-284	741	1	.2	.2	NUM
faba-284	741	2	0	0	NUM
faba-284	741	3	2	2	NUM
faba-284	741	4	2	2	NUM
faba-284	741	5	1	1	NUM
faba-284	741	6	.4	.4	NUM
faba-284	742	1	.2	.2	NUM
faba-284	742	2	0	0	NUM
faba-284	742	3	2	2	NUM
faba-284	742	4	3	3	NUM
faba-284	742	5	1	1	NUM
faba-284	742	6	.1	.1	NUM
faba-284	742	7	1	1	NUM
faba-284	743	1	.2	.2	NUM
faba-284	743	2	0	0	NUM
faba-284	743	3	2	2	NUM
faba-284	743	4	3	3	NUM
faba-284	743	5	1	1	NUM
faba-284	743	6	.6	.6	NUM
faba-284	744	1	.2	.2	NUM
faba-284	744	2	0	0	NUM
faba-284	744	3	2	2	NUM
faba-284	744	4	4	4	NUM
faba-284	744	5	1	1	NUM
faba-284	744	6	.1	.1	NUM
faba-284	744	7	.2	.2	NUM
faba-284	744	8	0	0	NUM
faba-284	744	9	2	2	NUM
faba-284	744	10	5	5	NUM
faba-284	744	11	equity	equity	NOUN
faba-284	744	12	curve	curve	NOUN
faba-284	744	13	2/2015	2/2015	NUM
faba-284	744	14	-5/2025	-5/2025	ADJ
faba-284	744	15	benchmark	benchmark	NOUN
faba-284	744	16	strategy	strategy	NOUN
faba-284	744	17	$	$	SYM
faba-284	744	18	1	1	NUM
faba-284	744	19	 	 	SPACE
faba-284	744	20	000	000	NUM
faba-284	744	21	$	$	SYM
faba-284	744	22	21	21	NUM
faba-284	744	23	 	 	SPACE
faba-284	744	24	000	000	NUM
faba-284	744	25	$	$	SYM
faba-284	744	26	41	41	NUM
faba-284	744	27	 	 	SPACE
faba-284	744	28	000	000	NUM
faba-284	744	29	$	$	SYM
faba-284	744	30	61	61	NUM
faba-284	744	31	 	 	SPACE
faba-284	744	32	000	000	NUM
faba-284	744	33	$	$	SYM
faba-284	744	34	81	81	NUM
faba-284	744	35	 	 	SPACE
faba-284	744	36	000	000	NUM
faba-284	744	37	$	$	SYM
faba-284	744	38	101	101	NUM
faba-284	744	39	 	 	SPACE
faba-284	744	40	000	000	NUM
faba-284	744	41	1	1	NUM
faba-284	744	42	.1	.1	NUM
faba-284	744	43	2	2	NUM
faba-284	745	1	.2	.2	NUM
faba-284	745	2	0	0	NUM
faba-284	745	3	1	1	NUM
faba-284	745	4	8	8	NUM
faba-284	745	5	1	1	NUM
faba-284	745	6	.5	.5	NUM
faba-284	745	7	.2	.2	NUM
faba-284	745	8	0	0	NUM
faba-284	745	9	1	1	NUM
faba-284	745	10	9	9	NUM
faba-284	745	11	1	1	NUM
faba-284	745	12	.1	.1	NUM
faba-284	745	13	0	0	NUM
faba-284	746	1	.2	.2	NUM
faba-284	746	2	0	0	NUM
faba-284	746	3	1	1	NUM
faba-284	746	4	9	9	NUM
faba-284	746	5	1	1	NUM
faba-284	746	6	.3	.3	NUM
faba-284	747	1	.2	.2	NUM
faba-284	747	2	0	0	NUM
faba-284	747	3	2	2	NUM
faba-284	747	4	0	0	NUM
faba-284	747	5	1	1	NUM
faba-284	747	6	.8	.8	NUM
faba-284	748	1	.2	.2	NUM
faba-284	748	2	0	0	NUM
faba-284	748	3	2	2	NUM
faba-284	748	4	0	0	NUM
faba-284	748	5	1	1	NUM
faba-284	748	6	.1	.1	NUM
faba-284	749	1	.2	.2	NUM
faba-284	749	2	0	0	NUM
faba-284	749	3	2	2	NUM
faba-284	749	4	1	1	NUM
faba-284	749	5	1	1	NUM
faba-284	749	6	.6	.6	NUM
faba-284	750	1	.2	.2	NUM
faba-284	750	2	0	0	NUM
faba-284	750	3	2	2	NUM
faba-284	750	4	1	1	NUM
faba-284	750	5	1	1	NUM
faba-284	750	6	.1	.1	NUM
faba-284	750	7	1	1	NUM
faba-284	751	1	.2	.2	NUM
faba-284	751	2	0	0	NUM
faba-284	751	3	2	2	NUM
faba-284	751	4	1	1	NUM
faba-284	751	5	1	1	NUM
faba-284	751	6	.4	.4	NUM
faba-284	752	1	.2	.2	NUM
faba-284	752	2	0	0	NUM
faba-284	752	3	2	2	NUM
faba-284	752	4	2	2	NUM
faba-284	752	5	1	1	NUM
faba-284	752	6	.9	.9	NUM
faba-284	753	1	.2	.2	NUM
faba-284	753	2	0	0	NUM
faba-284	753	3	2	2	NUM
faba-284	753	4	2	2	NUM
faba-284	753	5	1	1	NUM
faba-284	753	6	.2	.2	NUM
faba-284	754	1	.2	.2	NUM
faba-284	754	2	0	0	NUM
faba-284	754	3	2	2	NUM
faba-284	754	4	3	3	NUM
faba-284	754	5	1	1	NUM
faba-284	754	6	.7	.7	NOUN
faba-284	754	7	.2	.2	NUM
faba-284	754	8	0	0	NUM
faba-284	754	9	2	2	NUM
faba-284	754	10	3	3	NUM
faba-284	754	11	1	1	NUM
faba-284	754	12	.1	.1	NUM
faba-284	754	13	2	2	NUM
faba-284	755	1	.2	.2	NUM
faba-284	755	2	0	0	NUM
faba-284	755	3	2	2	NUM
faba-284	755	4	3	3	NUM
faba-284	755	5	1	1	NUM
faba-284	755	6	.5	.5	NUM
faba-284	756	1	.2	.2	NUM
faba-284	756	2	0	0	NUM
faba-284	756	3	2	2	NUM
faba-284	756	4	4	4	NUM
faba-284	756	5	1	1	NUM
faba-284	756	6	.1	.1	NUM
faba-284	756	7	0	0	NUM
faba-284	757	1	.2	.2	NUM
faba-284	757	2	0	0	NUM
faba-284	757	3	2	2	NUM
faba-284	757	4	4	4	NUM
faba-284	757	5	1	1	NUM
faba-284	757	6	.3	.3	NUM
faba-284	757	7	.2	.2	NUM
faba-284	757	8	0	0	NUM
faba-284	757	9	2	2	NUM
faba-284	757	10	5	5	NUM
faba-284	757	11	equity	equity	NOUN
faba-284	757	12	curve	curve	NOUN
faba-284	757	13	12/2018	12/2018	NUM
faba-284	757	14	5/2025	5/2025	NUM
faba-284	757	15	benchmark	benchmark	NOUN
faba-284	757	16	strategy	strategy	NOUN
faba-284	757	17	$	$	SYM
faba-284	757	18	$	$	SYM
faba-284	757	19	1	1	NUM
faba-284	757	20	 	 	SPACE
faba-284	757	21	000	000	NUM
faba-284	757	22	$	$	SYM
faba-284	757	23	2	2	NUM
faba-284	757	24	 	 	SPACE
faba-284	757	25	000	000	NUM
faba-284	757	26	$	$	SYM
faba-284	757	27	3	3	NUM
faba-284	757	28	 	 	SPACE
faba-284	757	29	000	000	NUM
faba-284	757	30	$	$	SYM
faba-284	757	31	4	4	NUM
faba-284	757	32	 	 	SPACE
faba-284	757	33	000	000	NUM
faba-284	757	34	$	$	SYM
faba-284	757	35	5	5	NUM
faba-284	757	36	 	 	SPACE
faba-284	757	37	000	000	NUM
faba-284	757	38	$	$	SYM
faba-284	757	39	6	6	NUM
faba-284	757	40	 	 	SPACE
faba-284	757	41	000	000	NUM
faba-284	757	42	1	1	NUM
faba-284	757	43	.8	.8	NUM
faba-284	757	44	.2	.2	NUM
faba-284	757	45	0	0	NUM
faba-284	757	46	2	2	NUM
faba-284	757	47	1	1	NUM
faba-284	757	48	1	1	NUM
faba-284	757	49	.1	.1	NUM
faba-284	757	50	1	1	NUM
faba-284	757	51	.2	.2	NUM
faba-284	757	52	0	0	NUM
faba-284	757	53	2	2	NUM
faba-284	757	54	1	1	NUM
faba-284	757	55	1	1	NUM
faba-284	757	56	.2	.2	NUM
faba-284	757	57	.2	.2	NUM
faba-284	757	58	0	0	NUM
faba-284	757	59	2	2	NUM
faba-284	757	60	2	2	NUM
faba-284	757	61	1	1	NUM
faba-284	757	62	.5	.5	NUM
faba-284	758	1	.2	.2	NUM
faba-284	758	2	0	0	NUM
faba-284	758	3	2	2	NUM
faba-284	758	4	2	2	NUM
faba-284	758	5	1	1	NUM
faba-284	758	6	.8	.8	NUM
faba-284	758	7	.2	.2	NUM
faba-284	758	8	0	0	NUM
faba-284	758	9	2	2	NUM
faba-284	758	10	2	2	NUM
faba-284	758	11	1	1	NUM
faba-284	758	12	.1	.1	NUM
faba-284	758	13	1	1	NUM
faba-284	759	1	.2	.2	NUM
faba-284	759	2	0	0	NUM
faba-284	759	3	2	2	NUM
faba-284	759	4	2	2	NUM
faba-284	759	5	1	1	NUM
faba-284	759	6	.2	.2	NUM
faba-284	760	1	.2	.2	NUM
faba-284	760	2	0	0	NUM
faba-284	760	3	2	2	NUM
faba-284	760	4	3	3	NUM
faba-284	760	5	1	1	NUM
faba-284	760	6	.5	.5	NUM
faba-284	761	1	.2	.2	NUM
faba-284	761	2	0	0	NUM
faba-284	761	3	2	2	NUM
faba-284	761	4	3	3	NUM
faba-284	761	5	1	1	NUM
faba-284	761	6	.8	.8	NUM
faba-284	762	1	.2	.2	NUM
faba-284	762	2	0	0	NUM
faba-284	762	3	2	2	NUM
faba-284	762	4	3	3	NUM
faba-284	762	5	1	1	NUM
faba-284	762	6	.1	.1	NUM
faba-284	762	7	1	1	NUM
faba-284	763	1	.2	.2	NUM
faba-284	763	2	0	0	NUM
faba-284	763	3	2	2	NUM
faba-284	763	4	3	3	NUM
faba-284	763	5	1	1	NUM
faba-284	763	6	.2	.2	NUM
faba-284	764	1	.2	.2	NUM
faba-284	764	2	0	0	NUM
faba-284	764	3	2	2	NUM
faba-284	764	4	4	4	NUM
faba-284	764	5	1	1	NUM
faba-284	764	6	.5	.5	NUM
faba-284	765	1	.2	.2	NUM
faba-284	765	2	0	0	NUM
faba-284	765	3	2	2	NUM
faba-284	765	4	4	4	NUM
faba-284	765	5	1	1	NUM
faba-284	765	6	.8	.8	NUM
faba-284	766	1	.2	.2	NUM
faba-284	766	2	0	0	NUM
faba-284	766	3	2	2	NUM
faba-284	766	4	4	4	NUM
faba-284	766	5	1	1	NUM
faba-284	766	6	.1	.1	NUM
faba-284	766	7	1	1	NUM
faba-284	767	1	.2	.2	NUM
faba-284	767	2	0	0	NUM
faba-284	767	3	2	2	NUM
faba-284	767	4	4	4	NUM
faba-284	767	5	1	1	NUM
faba-284	767	6	.2	.2	NUM
faba-284	767	7	.2	.2	NUM
faba-284	767	8	0	0	NUM
faba-284	767	9	2	2	NUM
faba-284	767	10	5	5	NUM
faba-284	767	11	1	1	NUM
faba-284	767	12	.5	.5	NUM
faba-284	767	13	.2	.2	NUM
faba-284	767	14	0	0	NUM
faba-284	767	15	2	2	NUM
faba-284	767	16	5	5	NUM
faba-284	767	17	equity	equity	NOUN
faba-284	767	18	curve	curve	NOUN
faba-284	767	19	8/2021	8/2021	PROPN
faba-284	767	20	5/2025	5/2025	NUM
faba-284	767	21	benchmark	benchmark	NOUN
faba-284	767	22	strategy	strategy	NOUN
faba-284	767	23	$	$	SYM
faba-284	767	24	$	$	SYM
faba-284	767	25	1	1	NUM
faba-284	767	26	 	 	SPACE
faba-284	767	27	000	000	NUM
faba-284	767	28	$	$	SYM
faba-284	767	29	2	2	NUM
faba-284	767	30	 	 	SPACE
faba-284	767	31	000	000	NUM
faba-284	767	32	$	$	SYM
faba-284	767	33	3	3	NUM
faba-284	767	34	 	 	SPACE
faba-284	767	35	000	000	NUM
faba-284	767	36	$	$	SYM
faba-284	767	37	4	4	NUM
faba-284	767	38	 	 	SPACE
faba-284	767	39	000	000	NUM
faba-284	767	40	$	$	SYM
faba-284	767	41	5	5	NUM
faba-284	767	42	 	 	SPACE
faba-284	767	43	000	000	NUM
faba-284	767	44	$	$	SYM
faba-284	767	45	6	6	NUM
faba-284	767	46	 	 	SPACE
faba-284	767	47	000	000	NUM
faba-284	767	48	4.4.2022	4.4.2022	NUM
faba-284	767	49	4.4.2023	4.4.2023	NUM
faba-284	767	50	4.4.2024	4.4.2024	NUM
faba-284	767	51	4.4.2025	4.4.2025	NUM
faba-284	767	52	equity	equity	NOUN
faba-284	767	53	curve	curve	NOUN
faba-284	767	54	4/2022	4/2022	PROPN
faba-284	767	55	5/2025	5/2025	NUM
faba-284	767	56	benchmark	benchmark	NOUN
faba-284	767	57	strategy	strategy	NOUN