id	sid	tid	token	lemma	pos
fbem-25602	1	1	frontiers	frontier	NOUN
fbem-25602	1	2	in	in	ADP
fbem-25602	1	3	business	business	NOUN
fbem-25602	1	4	,	,	PUNCT
fbem-25602	1	5	economics	economic	NOUN
fbem-25602	1	6	and	and	CCONJ
fbem-25602	1	7	management	management	NOUN
fbem-25602	1	8	issn	issn	PROPN
fbem-25602	1	9	:	:	PUNCT
fbem-25602	1	10	2766	2766	NUM
fbem-25602	1	11	-	-	PUNCT
fbem-25602	1	12	824x	824x	NUM
fbem-25602	1	13	|	|	ADJ
fbem-25602	1	14	vol	vol	NOUN
fbem-25602	1	15	.	.	PUNCT
fbem-25602	2	1	16	16	NUM
fbem-25602	2	2	,	,	PUNCT
fbem-25602	2	3	no	no	INTJ
fbem-25602	2	4	.	.	NOUN
fbem-25602	2	5	2	2	NUM
fbem-25602	2	6	,	,	PUNCT
fbem-25602	2	7	2024	2024	NUM
fbem-25602	2	8	234	234	NUM
fbem-25602	2	9	prediction	prediction	NOUN
fbem-25602	2	10	and	and	CCONJ
fbem-25602	2	11	evaluation	evaluation	NOUN
fbem-25602	2	12	of	of	ADP
fbem-25602	2	13	investment	investment	NOUN
fbem-25602	2	14	portfolios	portfolio	NOUN
fbem-25602	2	15	using	use	VERB
fbem-25602	2	16	multi	multi	ADJ
fbem-25602	2	17	-	-	ADJ
fbem-25602	2	18	factor	factor	NOUN
fbem-25602	2	19	models	model	NOUN
fbem-25602	2	20	:	:	PUNCT
fbem-25602	3	1	a	a	DET
fbem-25602	3	2	case	case	NOUN
fbem-25602	3	3	study	study	NOUN
fbem-25602	3	4	of	of	ADP
fbem-25602	3	5	engineering	engineering	NOUN
fbem-25602	3	6	&	&	CCONJ
fbem-25602	3	7	construction	construction	NOUN
fbem-25602	3	8	and	and	CCONJ
fbem-25602	3	9	insurance	insurance	NOUN
fbem-25602	3	10	-	-	PUNCT
fbem-25602	3	11	reinsurance	reinsurance	NOUN
fbem-25602	3	12	industries	industry	NOUN
fbem-25602	3	13	yiqiang	yiqiang	PROPN
fbem-25602	3	14	fan	fan	PROPN
fbem-25602	3	15	monash	monash	PROPN
fbem-25602	3	16	university	university	PROPN
fbem-25602	3	17	,	,	PUNCT
fbem-25602	3	18	petaling	petaling	PROPN
fbem-25602	3	19	jaya	jaya	PROPN
fbem-25602	3	20	,	,	PUNCT
fbem-25602	3	21	47500	47500	NUM
fbem-25602	3	22	,	,	PUNCT
fbem-25602	3	23	malaysia	malaysia	PROPN
fbem-25602	3	24	fan0080@student.monash.edu	fan0080@student.monash.edu	X
fbem-25602	3	25	abstract	abstract	NOUN
fbem-25602	3	26	:	:	PUNCT
fbem-25602	3	27	this	this	DET
fbem-25602	3	28	analysis	analysis	NOUN
fbem-25602	3	29	evaluates	evaluate	VERB
fbem-25602	3	30	the	the	DET
fbem-25602	3	31	performance	performance	NOUN
fbem-25602	3	32	of	of	ADP
fbem-25602	3	33	a	a	DET
fbem-25602	3	34	portfolio	portfolio	NOUN
fbem-25602	3	35	selected	select	VERB
fbem-25602	3	36	from	from	ADP
fbem-25602	3	37	20	20	NUM
fbem-25602	3	38	common	common	ADJ
fbem-25602	3	39	stocks	stock	NOUN
fbem-25602	3	40	across	across	ADP
fbem-25602	3	41	two	two	NUM
fbem-25602	3	42	industries	industry	NOUN
fbem-25602	3	43	:	:	PUNCT
fbem-25602	3	44	engineering	engineering	NOUN
fbem-25602	3	45	&	&	CCONJ
fbem-25602	3	46	construction	construction	NOUN
fbem-25602	3	47	and	and	CCONJ
fbem-25602	3	48	insurance	insurance	NOUN
fbem-25602	3	49	-	-	PUNCT
fbem-25602	3	50	reinsurance	reinsurance	NOUN
fbem-25602	3	51	,	,	PUNCT
fbem-25602	3	52	covering	cover	VERB
fbem-25602	3	53	period	period	NOUN
fbem-25602	3	54	from	from	ADP
fbem-25602	3	55	2020	2020	NUM
fbem-25602	3	56	to	to	ADP
fbem-25602	3	57	2023	2023	NUM
fbem-25602	3	58	.	.	PUNCT
fbem-25602	4	1	by	by	ADP
fbem-25602	4	2	utilizing	utilize	VERB
fbem-25602	4	3	historical	historical	ADJ
fbem-25602	4	4	data	datum	NOUN
fbem-25602	4	5	,	,	PUNCT
fbem-25602	4	6	a	a	DET
fbem-25602	4	7	rigorous	rigorous	ADJ
fbem-25602	4	8	multi	multi	ADJ
fbem-25602	4	9	-	-	ADJ
fbem-25602	4	10	factor	factor	NOUN
fbem-25602	4	11	approach	approach	NOUN
fbem-25602	4	12	is	be	AUX
fbem-25602	4	13	employed	employ	VERB
fbem-25602	4	14	to	to	PART
fbem-25602	4	15	assess	assess	VERB
fbem-25602	4	16	the	the	DET
fbem-25602	4	17	financial	financial	ADJ
fbem-25602	4	18	return	return	NOUN
fbem-25602	4	19	and	and	CCONJ
fbem-25602	4	20	risk	risk	NOUN
fbem-25602	4	21	characteristics	characteristic	NOUN
fbem-25602	4	22	of	of	ADP
fbem-25602	4	23	the	the	DET
fbem-25602	4	24	assets	asset	NOUN
fbem-25602	4	25	.	.	PUNCT
fbem-25602	5	1	key	key	ADJ
fbem-25602	5	2	metrics	metric	NOUN
fbem-25602	5	3	include	include	VERB
fbem-25602	5	4	the	the	DET
fbem-25602	5	5	stocks	stock	NOUN
fbem-25602	5	6	and	and	CCONJ
fbem-25602	5	7	the	the	DET
fbem-25602	5	8	total	total	ADJ
fbem-25602	5	9	portfolio	portfolio	NOUN
fbem-25602	5	10	return	return	NOUN
fbem-25602	5	11	and	and	CCONJ
fbem-25602	5	12	risk	risk	NOUN
fbem-25602	5	13	.	.	PUNCT
fbem-25602	6	1	these	these	DET
fbem-25602	6	2	metrics	metric	NOUN
fbem-25602	6	3	provide	provide	VERB
fbem-25602	6	4	empirical	empirical	ADJ
fbem-25602	6	5	insights	insight	NOUN
fbem-25602	6	6	into	into	ADP
fbem-25602	6	7	the	the	DET
fbem-25602	6	8	performance	performance	NOUN
fbem-25602	6	9	of	of	ADP
fbem-25602	6	10	the	the	DET
fbem-25602	6	11	port	port	NOUN
fbem-25602	6	12	folio	folio	NOUN
fbem-25602	6	13	.	.	PUNCT
fbem-25602	7	1	keywords	keyword	NOUN
fbem-25602	7	2	:	:	PUNCT
fbem-25602	7	3	investment	investment	NOUN
fbem-25602	7	4	portfolios	portfolio	NOUN
fbem-25602	7	5	,	,	PUNCT
fbem-25602	7	6	multi	multi	ADJ
fbem-25602	7	7	-	-	ADJ
fbem-25602	7	8	factor	factor	NOUN
fbem-25602	7	9	models	model	NOUN
fbem-25602	7	10	,	,	PUNCT
fbem-25602	7	11	engineering	engineering	NOUN
fbem-25602	7	12	&	&	CCONJ
fbem-25602	7	13	construction	construction	NOUN
fbem-25602	7	14	,	,	PUNCT
fbem-25602	7	15	insurance	insurance	NOUN
fbem-25602	7	16	-	-	PUNCT
fbem-25602	7	17	reinsurance	reinsurance	NOUN
fbem-25602	7	18	industries	industry	NOUN
fbem-25602	7	19	.	.	PUNCT
fbem-25602	8	1	1	1	X
fbem-25602	8	2	.	.	X
fbem-25602	8	3	introduction	introduction	VERB
fbem-25602	8	4	our	our	PRON
fbem-25602	8	5	task	task	NOUN
fbem-25602	8	6	in	in	ADP
fbem-25602	8	7	this	this	DET
fbem-25602	8	8	evaluation	evaluation	NOUN
fbem-25602	8	9	is	be	AUX
fbem-25602	8	10	constructing	construct	VERB
fbem-25602	8	11	and	and	CCONJ
fbem-25602	8	12	managing	manage	VERB
fbem-25602	8	13	a	a	DET
fbem-25602	8	14	common	common	ADJ
fbem-25602	8	15	stock	stock	NOUN
fbem-25602	8	16	portfolio	portfolio	NOUN
fbem-25602	8	17	with	with	ADP
fbem-25602	8	18	an	an	DET
fbem-25602	8	19	initial	initial	ADJ
fbem-25602	8	20	capital	capital	NOUN
fbem-25602	8	21	of	of	ADP
fbem-25602	8	22	$	$	SYM
fbem-25602	8	23	100	100	NUM
fbem-25602	8	24	million	million	NUM
fbem-25602	8	25	.	.	PUNCT
fbem-25602	9	1	this	this	DET
fbem-25602	9	2	portfolio	portfolio	NOUN
fbem-25602	9	3	was	be	AUX
fbem-25602	9	4	formed	form	VERB
fbem-25602	9	5	by	by	ADP
fbem-25602	9	6	selecting	select	VERB
fbem-25602	9	7	stocks	stock	NOUN
fbem-25602	9	8	from	from	ADP
fbem-25602	9	9	20	20	NUM
fbem-25602	9	10	companies	company	NOUN
fbem-25602	9	11	across	across	ADP
fbem-25602	9	12	two	two	NUM
fbem-25602	9	13	industries	industry	NOUN
fbem-25602	9	14	:	:	PUNCT
fbem-25602	9	15	engineering	engineering	NOUN
fbem-25602	9	16	&	&	CCONJ
fbem-25602	9	17	construction	construction	NOUN
fbem-25602	9	18	,	,	PUNCT
fbem-25602	9	19	and	and	CCONJ
fbem-25602	9	20	insurance	insurance	NOUN
fbem-25602	9	21	-	-	PUNCT
fbem-25602	9	22	reinsurance	reinsurance	NOUN
fbem-25602	9	23	.	.	PUNCT
fbem-25602	10	1	the	the	DET
fbem-25602	10	2	primary	primary	ADJ
fbem-25602	10	3	objective	objective	NOUN
fbem-25602	10	4	set	set	VERB
fbem-25602	10	5	by	by	ADP
fbem-25602	10	6	our	our	PRON
fbem-25602	10	7	client	client	NOUN
fbem-25602	10	8	is	be	AUX
fbem-25602	10	9	to	to	PART
fbem-25602	10	10	maximize	maximize	VERB
fbem-25602	10	11	the	the	DET
fbem-25602	10	12	sharpe	sharpe	PROPN
fbem-25602	10	13	ratio	ratio	NOUN
fbem-25602	10	14	of	of	ADP
fbem-25602	10	15	the	the	DET
fbem-25602	10	16	portfolio	portfolio	NOUN
fbem-25602	10	17	,	,	PUNCT
fbem-25602	10	18	our	our	PRON
fbem-25602	10	19	final	final	ADJ
fbem-25602	10	20	portfolio	portfolio	NOUN
fbem-25602	10	21	consists	consist	VERB
fbem-25602	10	22	of	of	ADP
fbem-25602	10	23	12	12	NUM
fbem-25602	10	24	stocks	stock	NOUN
fbem-25602	10	25	:	:	PUNCT
fbem-25602	10	26	six	six	NUM
fbem-25602	10	27	from	from	ADP
fbem-25602	10	28	the	the	DET
fbem-25602	10	29	engineering	engineering	NOUN
fbem-25602	10	30	&	&	CCONJ
fbem-25602	10	31	construction	construction	NOUN
fbem-25602	10	32	industry	industry	NOUN
fbem-25602	10	33	and	and	CCONJ
fbem-25602	10	34	six	six	NUM
fbem-25602	10	35	from	from	ADP
fbem-25602	10	36	the	the	DET
fbem-25602	10	37	insurance	insurance	NOUN
fbem-25602	10	38	-	-	PUNCT
fbem-25602	10	39	reinsurance	reinsurance	NOUN
fbem-25602	10	40	industry	industry	NOUN
fbem-25602	10	41	.	.	PUNCT
fbem-25602	11	1	this	this	DET
fbem-25602	11	2	portfolio	portfolio	NOUN
fbem-25602	11	3	will	will	AUX
fbem-25602	11	4	be	be	AUX
fbem-25602	11	5	evaluated	evaluate	VERB
fbem-25602	11	6	using	use	VERB
fbem-25602	11	7	the	the	DET
fbem-25602	11	8	sharpe	sharpe	PROPN
fbem-25602	11	9	ratio	ratio	NOUN
fbem-25602	11	10	and	and	CCONJ
fbem-25602	11	11	treynor	treynor	NOUN
fbem-25602	11	12	measure	measure	NOUN
fbem-25602	11	13	.	.	PUNCT
fbem-25602	12	1	the	the	DET
fbem-25602	12	2	performance	performance	NOUN
fbem-25602	12	3	of	of	ADP
fbem-25602	12	4	this	this	DET
fbem-25602	12	5	portfolio	portfolio	NOUN
fbem-25602	12	6	is	be	AUX
fbem-25602	12	7	evaluated	evaluate	VERB
fbem-25602	12	8	against	against	ADP
fbem-25602	12	9	the	the	DET
fbem-25602	12	10	russell	russell	PROPN
fbem-25602	12	11	3000	3000	NUM
fbem-25602	12	12	benchmark	benchmark	NOUN
fbem-25602	12	13	,	,	PUNCT
fbem-25602	12	14	with	with	ADP
fbem-25602	12	15	the	the	DET
fbem-25602	12	16	portfolio	portfolio	NOUN
fbem-25602	12	17	's	's	PART
fbem-25602	12	18	weights	weight	NOUN
fbem-25602	12	19	constrained	constrain	VERB
fbem-25602	12	20	to	to	PART
fbem-25602	12	21	sum	sum	VERB
fbem-25602	12	22	to	to	ADP
fbem-25602	12	23	one	one	NUM
fbem-25602	12	24	.	.	PUNCT
fbem-25602	13	1	to	to	PART
fbem-25602	13	2	meet	meet	VERB
fbem-25602	13	3	client	client	PROPN
fbem-25602	13	4	’s	’s	PART
fbem-25602	13	5	objective	objective	NOUN
fbem-25602	13	6	,	,	PUNCT
fbem-25602	13	7	we	we	PRON
fbem-25602	13	8	employed	employ	VERB
fbem-25602	13	9	the	the	DET
fbem-25602	13	10	fama	fama	NOUN
fbem-25602	13	11	-	-	PUNCT
fbem-25602	13	12	french	french	ADJ
fbem-25602	13	13	three	three	NUM
fbem-25602	13	14	-	-	PUNCT
fbem-25602	13	15	factor	factor	NOUN
fbem-25602	13	16	model	model	NOUN
fbem-25602	13	17	to	to	PART
fbem-25602	13	18	guide	guide	VERB
fbem-25602	13	19	our	our	PRON
fbem-25602	13	20	portfolio	portfolio	NOUN
fbem-25602	13	21	construction	construction	NOUN
fbem-25602	13	22	.	.	PUNCT
fbem-25602	14	1	the	the	DET
fbem-25602	14	2	selected	select	VERB
fbem-25602	14	3	stocks	stock	NOUN
fbem-25602	14	4	include	include	VERB
fbem-25602	14	5	aca	aca	PROPN
fbem-25602	14	6	,	,	PUNCT
fbem-25602	14	7	acm	acm	PROPN
fbem-25602	14	8	,	,	PUNCT
fbem-25602	14	9	eme	eme	PROPN
fbem-25602	14	10	,	,	PUNCT
fbem-25602	14	11	flr	flr	PROPN
fbem-25602	14	12	,	,	PUNCT
fbem-25602	14	13	j	j	PROPN
fbem-25602	14	14	,	,	PUNCT
fbem-25602	14	15	mtz	mtz	PROPN
fbem-25602	14	16	,	,	PUNCT
fbem-25602	14	17	eg	eg	NOUN
fbem-25602	14	18	,	,	PUNCT
fbem-25602	14	19	glre	glre	NOUN
fbem-25602	14	20	,	,	PUNCT
fbem-25602	14	21	oxbr	oxbr	PROPN
fbem-25602	14	22	,	,	PUNCT
fbem-25602	14	23	rga	rga	PROPN
fbem-25602	14	24	,	,	PUNCT
fbem-25602	14	25	rnr	rnr	NOUN
fbem-25602	14	26	,	,	PUNCT
fbem-25602	14	27	and	and	CCONJ
fbem-25602	14	28	spnt	spnt	PROPN
fbem-25602	14	29	.	.	PUNCT
fbem-25602	15	1	based	base	VERB
fbem-25602	15	2	on	on	ADP
fbem-25602	15	3	our	our	PRON
fbem-25602	15	4	analysis	analysis	NOUN
fbem-25602	15	5	,	,	PUNCT
fbem-25602	15	6	the	the	DET
fbem-25602	15	7	expected	expect	VERB
fbem-25602	15	8	return	return	NOUN
fbem-25602	15	9	for	for	ADP
fbem-25602	15	10	the	the	DET
fbem-25602	15	11	portfolio	portfolio	NOUN
fbem-25602	15	12	in	in	ADP
fbem-25602	15	13	the	the	DET
fbem-25602	15	14	next	next	ADJ
fbem-25602	15	15	year	year	NOUN
fbem-25602	15	16	is	be	AUX
fbem-25602	15	17	0.19	0.19	NUM
fbem-25602	15	18	,	,	PUNCT
fbem-25602	15	19	with	with	ADP
fbem-25602	15	20	an	an	DET
fbem-25602	15	21	expected	expect	VERB
fbem-25602	15	22	risk	risk	NOUN
fbem-25602	15	23	of	of	ADP
fbem-25602	15	24	0.0514	0.0514	NUM
fbem-25602	15	25	.	.	PUNCT
fbem-25602	16	1	however	however	ADV
fbem-25602	16	2	,	,	PUNCT
fbem-25602	16	3	the	the	DET
fbem-25602	16	4	actual	actual	ADJ
fbem-25602	16	5	return	return	NOUN
fbem-25602	16	6	of	of	ADP
fbem-25602	16	7	portfolio	portfolio	NOUN
fbem-25602	16	8	is	be	AUX
fbem-25602	16	9	17.49	17.49	NUM
fbem-25602	16	10	%	%	NOUN
fbem-25602	16	11	,	,	PUNCT
fbem-25602	16	12	and	and	CCONJ
fbem-25602	16	13	actual	actual	ADJ
fbem-25602	16	14	risk	risk	NOUN
fbem-25602	16	15	is	be	AUX
fbem-25602	16	16	8.36	8.36	NUM
fbem-25602	16	17	%	%	NOUN
fbem-25602	16	18	during	during	ADP
fbem-25602	16	19	the	the	DET
fbem-25602	16	20	first	first	ADJ
fbem-25602	16	21	four	four	NUM
fbem-25602	16	22	months	month	NOUN
fbem-25602	16	23	in	in	ADP
fbem-25602	16	24	2024	2024	NUM
fbem-25602	16	25	.	.	PUNCT
fbem-25602	17	1	2	2	X
fbem-25602	17	2	.	.	NOUN
fbem-25602	17	3	methodology	methodology	NOUN
fbem-25602	17	4	and	and	CCONJ
fbem-25602	17	5	results	result	VERB
fbem-25602	17	6	2.1	2.1	NUM
fbem-25602	17	7	.	.	PUNCT
fbem-25602	18	1	methods	method	NOUN
fbem-25602	18	2	and	and	CCONJ
fbem-25602	18	3	data	datum	NOUN
fbem-25602	18	4	2.1.1	2.1.1	NUM
fbem-25602	18	5	.	.	PUNCT
fbem-25602	19	1	data	datum	NOUN
fbem-25602	19	2	collection	collection	NOUN
fbem-25602	19	3	to	to	PART
fbem-25602	19	4	ensure	ensure	VERB
fbem-25602	19	5	the	the	DET
fbem-25602	19	6	transparency	transparency	NOUN
fbem-25602	19	7	of	of	ADP
fbem-25602	19	8	the	the	DET
fbem-25602	19	9	data	datum	NOUN
fbem-25602	19	10	in	in	ADP
fbem-25602	19	11	this	this	DET
fbem-25602	19	12	evaluation	evaluation	NOUN
fbem-25602	19	13	,	,	PUNCT
fbem-25602	19	14	all	all	DET
fbem-25602	19	15	data	datum	NOUN
fbem-25602	19	16	in	in	ADP
fbem-25602	19	17	the	the	DET
fbem-25602	19	18	report	report	NOUN
fbem-25602	19	19	were	be	AUX
fbem-25602	19	20	selected	select	VERB
fbem-25602	19	21	from	from	ADP
fbem-25602	19	22	yahoo	yahoo	PROPN
fbem-25602	19	23	finance	finance	NOUN
fbem-25602	19	24	and	and	CCONJ
fbem-25602	19	25	fred	fred	NOUN
fbem-25602	19	26	.	.	PUNCT
fbem-25602	20	1	the	the	DET
fbem-25602	20	2	data	datum	NOUN
fbem-25602	20	3	used	use	VERB
fbem-25602	20	4	in	in	ADP
fbem-25602	20	5	this	this	DET
fbem-25602	20	6	report	report	NOUN
fbem-25602	20	7	are	be	AUX
fbem-25602	20	8	all	all	ADV
fbem-25602	20	9	from	from	ADP
fbem-25602	20	10	monthly	monthly	ADJ
fbem-25602	20	11	data	datum	NOUN
fbem-25602	20	12	from	from	ADP
fbem-25602	20	13	2020	2020	NUM
fbem-25602	20	14	to	to	ADP
fbem-25602	20	15	2023	2023	NUM
fbem-25602	20	16	and	and	CCONJ
fbem-25602	20	17	daily	daily	ADJ
fbem-25602	20	18	data	datum	NOUN
fbem-25602	20	19	for	for	ADP
fbem-25602	20	20	the	the	DET
fbem-25602	20	21	first	first	ADJ
fbem-25602	20	22	four	four	NUM
fbem-25602	20	23	months	month	NOUN
fbem-25602	20	24	of	of	ADP
fbem-25602	20	25	2024	2024	NUM
fbem-25602	20	26	,	,	PUNCT
fbem-25602	20	27	and	and	CCONJ
fbem-25602	20	28	there	there	PRON
fbem-25602	20	29	are	be	VERB
fbem-25602	20	30	not	not	PART
fbem-25602	20	31	any	any	DET
fbem-25602	20	32	structural	structural	ADJ
fbem-25602	20	33	breaks	break	NOUN
fbem-25602	20	34	for	for	ADP
fbem-25602	20	35	each	each	DET
fbem-25602	20	36	stocks	stock	NOUN
fbem-25602	20	37	’	'	PUNCT
fbem-25602	20	38	data	datum	NOUN
fbem-25602	20	39	during	during	ADP
fbem-25602	20	40	this	this	DET
fbem-25602	20	41	period	period	NOUN
fbem-25602	20	42	.	.	PUNCT
fbem-25602	21	1	using	use	VERB
fbem-25602	21	2	monthly	monthly	ADJ
fbem-25602	21	3	data	datum	NOUN
fbem-25602	21	4	for	for	ADP
fbem-25602	21	5	portfolio	portfolio	NOUN
fbem-25602	21	6	evaluation	evaluation	NOUN
fbem-25602	21	7	and	and	CCONJ
fbem-25602	21	8	forecasting	forecasting	NOUN
fbem-25602	21	9	alleviates	alleviate	VERB
fbem-25602	21	10	the	the	DET
fbem-25602	21	11	impact	impact	NOUN
fbem-25602	21	12	of	of	ADP
fbem-25602	21	13	frequent	frequent	ADJ
fbem-25602	21	14	trading	trading	NOUN
fbem-25602	21	15	and	and	CCONJ
fbem-25602	21	16	monthly	monthly	ADJ
fbem-25602	21	17	data	datum	NOUN
fbem-25602	21	18	can	can	AUX
fbem-25602	21	19	reduce	reduce	VERB
fbem-25602	21	20	the	the	DET
fbem-25602	21	21	amount	amount	NOUN
fbem-25602	21	22	of	of	ADP
fbem-25602	21	23	data	datum	NOUN
fbem-25602	21	24	to	to	PART
fbem-25602	21	25	be	be	AUX
fbem-25602	21	26	processed	process	VERB
fbem-25602	21	27	compared	compare	VERB
fbem-25602	21	28	to	to	ADP
fbem-25602	21	29	daily	daily	ADJ
fbem-25602	21	30	data	datum	NOUN
fbem-25602	21	31	,	,	PUNCT
fbem-25602	21	32	making	make	VERB
fbem-25602	21	33	computation	computation	NOUN
fbem-25602	21	34	and	and	CCONJ
fbem-25602	21	35	storage	storage	NOUN
fbem-25602	21	36	more	more	ADV
fbem-25602	21	37	efficient	efficient	ADJ
fbem-25602	21	38	.	.	PUNCT
fbem-25602	22	1	in	in	ADP
fbem-25602	22	2	addition	addition	NOUN
fbem-25602	22	3	,	,	PUNCT
fbem-25602	22	4	monthly	monthly	ADJ
fbem-25602	22	5	data	datum	NOUN
fbem-25602	22	6	can	can	AUX
fbem-25602	22	7	better	well	ADV
fbem-25602	22	8	capture	capture	VERB
fbem-25602	22	9	long	long	ADJ
fbem-25602	22	10	-	-	PUNCT
fbem-25602	22	11	term	term	NOUN
fbem-25602	22	12	trends	trend	NOUN
fbem-25602	22	13	,	,	PUNCT
fbem-25602	22	14	helping	help	VERB
fbem-25602	22	15	to	to	PART
fbem-25602	22	16	develop	develop	VERB
fbem-25602	22	17	forward	forward	ADV
fbem-25602	22	18	-	-	PUNCT
fbem-25602	22	19	looking	look	VERB
fbem-25602	22	20	investment	investment	NOUN
fbem-25602	22	21	strategies	strategy	NOUN
fbem-25602	22	22	.	.	PUNCT
fbem-25602	23	1	in	in	ADP
fbem-25602	23	2	terms	term	NOUN
fbem-25602	23	3	of	of	ADP
fbem-25602	23	4	stock	stock	NOUN
fbem-25602	23	5	selection	selection	NOUN
fbem-25602	23	6	,	,	PUNCT
fbem-25602	23	7	as	as	ADP
fbem-25602	23	8	a	a	DET
fbem-25602	23	9	high	high	ADJ
fbem-25602	23	10	stock	stock	NOUN
fbem-25602	23	11	price	price	NOUN
fbem-25602	23	12	usually	usually	ADV
fbem-25602	23	13	means	mean	VERB
fbem-25602	23	14	a	a	DET
fbem-25602	23	15	high	high	ADJ
fbem-25602	23	16	maturity	maturity	NOUN
fbem-25602	23	17	of	of	ADP
fbem-25602	23	18	the	the	DET
fbem-25602	23	19	enterprise	enterprise	NOUN
fbem-25602	23	20	,	,	PUNCT
fbem-25602	23	21	and	and	CCONJ
fbem-25602	23	22	it	it	PRON
fbem-25602	23	23	has	have	VERB
fbem-25602	23	24	stable	stable	ADJ
fbem-25602	23	25	profitability	profitability	NOUN
fbem-25602	23	26	and	and	CCONJ
fbem-25602	23	27	low	low	ADJ
fbem-25602	23	28	operational	operational	ADJ
fbem-25602	23	29	risk	risk	NOUN
fbem-25602	23	30	.	.	PUNCT
fbem-25602	24	1	therefore	therefore	ADV
fbem-25602	24	2	,	,	PUNCT
fbem-25602	24	3	we	we	PRON
fbem-25602	24	4	focused	focus	VERB
fbem-25602	24	5	on	on	ADP
fbem-25602	24	6	the	the	DET
fbem-25602	24	7	top	top	ADJ
fbem-25602	24	8	10	10	NUM
fbem-25602	24	9	stocks	stock	NOUN
fbem-25602	24	10	with	with	ADP
fbem-25602	24	11	high	high	ADJ
fbem-25602	24	12	stock	stock	NOUN
fbem-25602	24	13	prices	price	NOUN
fbem-25602	24	14	in	in	ADP
fbem-25602	24	15	the	the	DET
fbem-25602	24	16	two	two	NUM
fbem-25602	24	17	industries	industry	NOUN
fbem-25602	24	18	.	.	PUNCT
fbem-25602	25	1	2.1.2	2.1.2	X
fbem-25602	25	2	.	.	PUNCT
fbem-25602	25	3	the	the	DET
fbem-25602	25	4	choice	choice	NOUN
fbem-25602	25	5	of	of	ADP
fbem-25602	25	6	method	method	NOUN
fbem-25602	25	7	this	this	DET
fbem-25602	25	8	report	report	NOUN
fbem-25602	25	9	adopts	adopt	VERB
fbem-25602	25	10	the	the	DET
fbem-25602	25	11	multi	multi	ADJ
fbem-25602	25	12	-	-	ADJ
fbem-25602	25	13	factor	factor	NOUN
fbem-25602	25	14	model	model	NOUN
fbem-25602	25	15	as	as	ADP
fbem-25602	25	16	the	the	DET
fbem-25602	25	17	main	main	ADJ
fbem-25602	25	18	analytical	analytical	ADJ
fbem-25602	25	19	tool	tool	NOUN
fbem-25602	25	20	.	.	PUNCT
fbem-25602	26	1	the	the	DET
fbem-25602	26	2	multi	multi	ADJ
fbem-25602	26	3	-	-	ADJ
fbem-25602	26	4	factor	factor	NOUN
fbem-25602	26	5	model	model	NOUN
fbem-25602	26	6	has	have	VERB
fbem-25602	26	7	several	several	ADJ
fbem-25602	26	8	advantages	advantage	NOUN
fbem-25602	26	9	over	over	ADP
fbem-25602	26	10	other	other	ADJ
fbem-25602	26	11	approaches	approach	NOUN
fbem-25602	26	12	.	.	PUNCT
fbem-25602	27	1	it	it	PRON
fbem-25602	27	2	provides	provide	VERB
fbem-25602	27	3	more	more	ADJ
fbem-25602	27	4	comprehensive	comprehensive	ADJ
fbem-25602	27	5	portfolio	portfolio	NOUN
fbem-25602	27	6	analysis	analysis	NOUN
fbem-25602	27	7	and	and	CCONJ
fbem-25602	27	8	risk	risk	NOUN
fbem-25602	27	9	management	management	NOUN
fbem-25602	27	10	,	,	PUNCT
fbem-25602	27	11	better	well	ADJ
fbem-25602	27	12	captures	capture	VERB
fbem-25602	27	13	market	market	NOUN
fbem-25602	27	14	complexity	complexity	NOUN
fbem-25602	27	15	,	,	PUNCT
fbem-25602	27	16	and	and	CCONJ
fbem-25602	27	17	improves	improve	VERB
fbem-25602	27	18	forecast	forecast	NOUN
fbem-25602	27	19	accuracy	accuracy	NOUN
fbem-25602	27	20	.	.	PUNCT
fbem-25602	28	1	it	it	PRON
fbem-25602	28	2	also	also	ADV
fbem-25602	28	3	has	have	VERB
fbem-25602	28	4	a	a	DET
fbem-25602	28	5	statistically	statistically	ADV
fbem-25602	28	6	higher	high	ADJ
fbem-25602	28	7	adjusted	adjusted	ADJ
fbem-25602	28	8	r	r	NOUN
fbem-25602	28	9	-	-	PUNCT
fbem-25602	28	10	square	square	NOUN
fbem-25602	28	11	compared	compare	VERB
fbem-25602	28	12	to	to	ADP
fbem-25602	28	13	the	the	DET
fbem-25602	28	14	one	one	NUM
fbem-25602	28	15	-	-	PUNCT
fbem-25602	28	16	factor	factor	NOUN
fbem-25602	28	17	model	model	NOUN
fbem-25602	28	18	.	.	PUNCT
fbem-25602	29	1	this	this	PRON
fbem-25602	29	2	means	mean	VERB
fbem-25602	29	3	that	that	SCONJ
fbem-25602	29	4	there	there	PRON
fbem-25602	29	5	is	be	VERB
fbem-25602	29	6	more	more	ADJ
fbem-25602	29	7	variation	variation	NOUN
fbem-25602	29	8	in	in	ADP
fbem-25602	29	9	the	the	DET
fbem-25602	29	10	dependent	dependent	ADJ
fbem-25602	29	11	variable	variable	NOUN
fbem-25602	29	12	in	in	ADP
fbem-25602	29	13	the	the	DET
fbem-25602	29	14	regression	regression	NOUN
fbem-25602	29	15	model	model	NOUN
fbem-25602	29	16	that	that	PRON
fbem-25602	29	17	can	can	AUX
fbem-25602	29	18	be	be	AUX
fbem-25602	29	19	explained	explain	VERB
fbem-25602	29	20	by	by	ADP
fbem-25602	29	21	the	the	DET
fbem-25602	29	22	independent	independent	ADJ
fbem-25602	29	23	variables	variable	NOUN
fbem-25602	29	24	.	.	PUNCT
fbem-25602	30	1	however	however	ADV
fbem-25602	30	2	,	,	PUNCT
fbem-25602	30	3	multifactor	multifactor	NOUN
fbem-25602	30	4	models	model	NOUN
fbem-25602	30	5	tend	tend	VERB
fbem-25602	30	6	to	to	PART
fbem-25602	30	7	have	have	VERB
fbem-25602	30	8	higher	high	ADJ
fbem-25602	30	9	complexity	complexity	NOUN
fbem-25602	30	10	and	and	CCONJ
fbem-25602	30	11	data	datum	NOUN
fbem-25602	30	12	requirements	requirement	NOUN
fbem-25602	30	13	,	,	PUNCT
fbem-25602	30	14	as	as	ADV
fbem-25602	30	15	well	well	ADV
fbem-25602	30	16	as	as	ADP
fbem-25602	30	17	the	the	DET
fbem-25602	30	18	risk	risk	NOUN
fbem-25602	30	19	of	of	ADP
fbem-25602	30	20	overfitting	overfitte	VERB
fbem-25602	30	21	and	and	CCONJ
fbem-25602	30	22	interpretation	interpretation	NOUN
fbem-25602	30	23	difficulties	difficulty	NOUN
fbem-25602	30	24	.	.	PUNCT
fbem-25602	31	1	2.1.3	2.1.3	NUM
fbem-25602	31	2	.	.	PUNCT
fbem-25602	31	3	process	process	NOUN
fbem-25602	31	4	of	of	ADP
fbem-25602	31	5	prediction	prediction	NOUN
fbem-25602	31	6	to	to	PART
fbem-25602	31	7	evaluate	evaluate	VERB
fbem-25602	31	8	a	a	DET
fbem-25602	31	9	portfolio	portfolio	NOUN
fbem-25602	31	10	,	,	PUNCT
fbem-25602	31	11	we	we	PRON
fbem-25602	31	12	need	need	VERB
fbem-25602	31	13	to	to	PART
fbem-25602	31	14	determine	determine	VERB
fbem-25602	31	15	its	its	PRON
fbem-25602	31	16	expected	expect	VERB
fbem-25602	31	17	annual	annual	ADJ
fbem-25602	31	18	return	return	NOUN
fbem-25602	31	19	,	,	PUNCT
fbem-25602	31	20	annualized	annualize	VERB
fbem-25602	31	21	standard	standard	ADJ
fbem-25602	31	22	deviation	deviation	NOUN
fbem-25602	31	23	(	(	PUNCT
fbem-25602	31	24	expected	expect	VERB
fbem-25602	31	25	risk	risk	NOUN
fbem-25602	31	26	)	)	PUNCT
fbem-25602	31	27	,	,	PUNCT
fbem-25602	31	28	and	and	CCONJ
fbem-25602	31	29	sharpe	sharpe	PROPN
fbem-25602	31	30	ratio	ratio	NOUN
fbem-25602	31	31	.	.	PUNCT
fbem-25602	32	1	using	use	VERB
fbem-25602	32	2	the	the	DET
fbem-25602	32	3	fama	fama	NOUN
fbem-25602	32	4	&	&	CCONJ
fbem-25602	32	5	french	french	ADJ
fbem-25602	32	6	three	three	NUM
fbem-25602	32	7	-	-	PUNCT
fbem-25602	32	8	factor	factor	NOUN
fbem-25602	32	9	model	model	NOUN
fbem-25602	32	10	,	,	PUNCT
fbem-25602	32	11	we	we	PRON
fbem-25602	32	12	calculate	calculate	VERB
fbem-25602	32	13	the	the	DET
fbem-25602	32	14	expected	expect	VERB
fbem-25602	32	15	return	return	NOUN
fbem-25602	32	16	and	and	CCONJ
fbem-25602	32	17	risk	risk	NOUN
fbem-25602	32	18	for	for	ADP
fbem-25602	32	19	each	each	DET
fbem-25602	32	20	stock	stock	NOUN
fbem-25602	32	21	.	.	PUNCT
fbem-25602	33	1	the	the	DET
fbem-25602	33	2	formular	formular	PROPN
fbem-25602	33	3	show	show	NOUN
fbem-25602	33	4	as	as	ADP
fbem-25602	33	5	below	below	ADV
fbem-25602	33	6	.	.	PUNCT
fbem-25602	34	1	𝐸(𝑅𝑖	𝐸(𝑅𝑖	X
fbem-25602	34	2	)	)	PUNCT
fbem-25602	35	1	−	−	ADP
fbem-25602	35	2	𝑅𝑓	𝑅𝑓	NOUN
fbem-25602	35	3	=	=	SYM
fbem-25602	35	4	𝛼	𝛼	PROPN
fbem-25602	35	5	+	+	ADJ
fbem-25602	35	6	𝑏𝑖(𝐸(𝑅𝑚	𝑏𝑖(𝐸(𝑅𝑚	PROPN
fbem-25602	35	7	)	)	PUNCT
fbem-25602	35	8	−	−	ADP
fbem-25602	36	1	𝑅𝑓	𝑅𝑓	NOUN
fbem-25602	36	2	)	)	PUNCT
fbem-25602	36	3	+	+	CCONJ
fbem-25602	36	4	𝑠𝑖𝐸(𝑆𝑀𝐵	𝑠𝑖𝐸(𝑆𝑀𝐵	ADV
fbem-25602	36	5	)	)	PUNCT
fbem-25602	36	6	+	+	CCONJ
fbem-25602	36	7	ℎ𝑖𝐸(𝐻𝑀𝐿	ℎ𝑖𝐸(𝐻𝑀𝐿	NOUN
fbem-25602	36	8	)	)	PUNCT
fbem-25602	36	9	+	+	CCONJ
fbem-25602	36	10	𝑒𝑟𝑟𝑜𝑟	𝑒𝑟𝑟𝑜𝑟	ADJ
fbem-25602	36	11	(	(	PUNCT
fbem-25602	36	12	1	1	NUM
fbem-25602	36	13	)	)	PUNCT
fbem-25602	36	14	the	the	DET
fbem-25602	36	15	model	model	NOUN
fbem-25602	36	16	uses	use	VERB
fbem-25602	36	17	three	three	NUM
fbem-25602	36	18	factors	factor	NOUN
fbem-25602	36	19	:	:	PUNCT
fbem-25602	36	20	the	the	DET
fbem-25602	36	21	market	market	NOUN
fbem-25602	36	22	risk	risk	NOUN
fbem-25602	36	23	premium	premium	NOUN
fbem-25602	36	24	(	(	PUNCT
fbem-25602	36	25	e(rm)-rf	e(rm)-rf	PROPN
fbem-25602	36	26	)	)	PUNCT
fbem-25602	36	27	,	,	PUNCT
fbem-25602	36	28	the	the	DET
fbem-25602	36	29	size	size	NOUN
fbem-25602	36	30	premium	premium	NOUN
fbem-25602	36	31	(	(	PUNCT
fbem-25602	36	32	smb	smb	NOUN
fbem-25602	36	33	)	)	PUNCT
fbem-25602	36	34	,	,	PUNCT
fbem-25602	36	35	and	and	CCONJ
fbem-25602	36	36	the	the	DET
fbem-25602	36	37	value	value	NOUN
fbem-25602	36	38	premium	premium	NOUN
fbem-25602	36	39	(	(	PUNCT
fbem-25602	36	40	hml	hml	PROPN
fbem-25602	36	41	)	)	PUNCT
fbem-25602	36	42	,	,	PUNCT
fbem-25602	36	43	with	with	SCONJ
fbem-25602	36	44	their	their	PRON
fbem-25602	36	45	respective	respective	ADJ
fbem-25602	36	46	betas	beta	NOUN
fbem-25602	36	47	presented	present	VERB
fbem-25602	36	48	.	.	PUNCT
fbem-25602	37	1	we	we	PRON
fbem-25602	37	2	run	run	VERB
fbem-25602	37	3	multifactor	multifactor	NOUN
fbem-25602	37	4	regressions	regression	NOUN
fbem-25602	37	5	in	in	ADP
fbem-25602	37	6	excel	excel	NOUN
fbem-25602	37	7	to	to	PART
fbem-25602	37	8	obtain	obtain	VERB
fbem-25602	37	9	these	these	DET
fbem-25602	37	10	betas	beta	NOUN
fbem-25602	37	11	,	,	PUNCT
fbem-25602	37	12	annualized	annualize	VERB
fbem-25602	37	13	alphas	alpha	NOUN
fbem-25602	37	14	,	,	PUNCT
fbem-25602	37	15	and	and	CCONJ
fbem-25602	37	16	firm	firm	ADJ
fbem-25602	37	17	-	-	PUNCT
fbem-25602	37	18	specific	specific	ADJ
fbem-25602	37	19	variances	variance	NOUN
fbem-25602	37	20	.	.	PUNCT
fbem-25602	38	1	the	the	DET
fbem-25602	38	2	expected	expect	VERB
fbem-25602	38	3	return	return	NOUN
fbem-25602	38	4	for	for	ADP
fbem-25602	38	5	each	each	DET
fbem-25602	38	6	stock	stock	NOUN
fbem-25602	38	7	is	be	AUX
fbem-25602	38	8	the	the	DET
fbem-25602	38	9	sum	sum	NOUN
fbem-25602	38	10	of	of	ADP
fbem-25602	38	11	the	the	DET
fbem-25602	38	12	risk	risk	NOUN
fbem-25602	38	13	-	-	PUNCT
fbem-25602	38	14	free	free	ADJ
fbem-25602	38	15	rate	rate	NOUN
fbem-25602	38	16	and	and	CCONJ
fbem-25602	38	17	the	the	DET
fbem-25602	38	18	total	total	ADJ
fbem-25602	38	19	risk	risk	NOUN
fbem-25602	38	20	premium	premium	NOUN
fbem-25602	38	21	,	,	PUNCT
fbem-25602	38	22	the	the	DET
fbem-25602	38	23	factor	factor	NOUN
fbem-25602	38	24	premium	premium	NOUN
fbem-25602	38	25	and	and	CCONJ
fbem-25602	38	26	the	the	DET
fbem-25602	38	27	alpha	alpha	NOUN
fbem-25602	38	28	.	.	PUNCT
fbem-25602	39	1	for	for	ADP
fbem-25602	39	2	portfolios	portfolio	NOUN
fbem-25602	39	3	,	,	PUNCT
fbem-25602	39	4	we	we	PRON
fbem-25602	39	5	calculate	calculate	VERB
fbem-25602	39	6	the	the	DET
fbem-25602	39	7	annualized	annualize	VERB
fbem-25602	39	8	variance	variance	NOUN
fbem-25602	39	9	of	of	ADP
fbem-25602	39	10	alpha	alpha	NOUN
fbem-25602	39	11	,	,	PUNCT
fbem-25602	39	12	beta	beta	NOUN
fbem-25602	39	13	,	,	PUNCT
fbem-25602	39	14	and	and	CCONJ
fbem-25602	39	15	residuals	residual	NOUN
fbem-25602	39	16	using	use	VERB
fbem-25602	39	17	excel	excel	NOUN
fbem-25602	39	18	's	's	PART
fbem-25602	39	19	"	"	PUNCT
fbem-25602	39	20	mmult	mmult	ADJ
fbem-25602	39	21	"	"	PUNCT
fbem-25602	39	22	function	function	NOUN
fbem-25602	39	23	.	.	PUNCT
fbem-25602	40	1	the	the	DET
fbem-25602	40	2	expected	expect	VERB
fbem-25602	40	3	risk	risk	NOUN
fbem-25602	40	4	of	of	ADP
fbem-25602	40	5	a	a	DET
fbem-25602	40	6	portfolio	portfolio	NOUN
fbem-25602	40	7	is	be	AUX
fbem-25602	40	8	the	the	DET
fbem-25602	40	9	square	square	ADJ
fbem-25602	40	10	root	root	NOUN
fbem-25602	40	11	of	of	ADP
fbem-25602	40	12	its	its	PRON
fbem-25602	40	13	annualized	annualize	VERB
fbem-25602	40	14	variance	variance	NOUN
fbem-25602	40	15	,	,	PUNCT
fbem-25602	40	16	derived	derive	VERB
fbem-25602	40	17	from	from	ADP
fbem-25602	40	18	the	the	DET
fbem-25602	40	19	sum	sum	NOUN
fbem-25602	40	20	of	of	ADP
fbem-25602	40	21	the	the	DET
fbem-25602	40	22	squared	square	VERB
fbem-25602	40	23	betas	beta	NOUN
fbem-25602	40	24	of	of	ADP
fbem-25602	40	25	the	the	DET
fbem-25602	40	26	portfolio	portfolio	NOUN
fbem-25602	40	27	and	and	CCONJ
fbem-25602	40	28	the	the	DET
fbem-25602	40	29	annualized	annualize	VERB
fbem-25602	40	30	variance	variance	NOUN
fbem-25602	40	31	of	of	ADP
fbem-25602	40	32	the	the	DET
fbem-25602	40	33	market	market	NOUN
fbem-25602	40	34	.	.	PUNCT
fbem-25602	41	1	we	we	PRON
fbem-25602	41	2	also	also	ADV
fbem-25602	41	3	use	use	VERB
fbem-25602	41	4	a	a	DET
fbem-25602	41	5	multifactor	multifactor	NOUN
fbem-25602	41	6	model	model	NOUN
fbem-25602	41	7	to	to	PART
fbem-25602	41	8	determine	determine	VERB
fbem-25602	41	9	the	the	DET
fbem-25602	41	10	weight	weight	NOUN
fbem-25602	41	11	of	of	ADP
fbem-25602	41	12	each	each	DET
fbem-25602	41	13	stock	stock	NOUN
fbem-25602	41	14	and	and	CCONJ
fbem-25602	41	15	use	use	VERB
fbem-25602	41	16	the	the	DET
fbem-25602	41	17	s&p	s&p	PROPN
fbem-25602	41	18	500	500	NUM
fbem-25602	41	19	index	index	NOUN
fbem-25602	41	20	as	as	ADP
fbem-25602	41	21	the	the	DET
fbem-25602	41	22	benchmark	benchmark	NOUN
fbem-25602	41	23	.	.	PUNCT
fbem-25602	42	1	the	the	DET
fbem-25602	42	2	objective	objective	NOUN
fbem-25602	42	3	is	be	AUX
fbem-25602	42	4	to	to	PART
fbem-25602	42	5	maximize	maximize	VERB
fbem-25602	42	6	the	the	DET
fbem-25602	42	7	sharpe	sharpe	PROPN
fbem-25602	42	8	ratio	ratio	NOUN
fbem-25602	42	9	,	,	PUNCT
fbem-25602	42	10	implemented	implement	VERB
fbem-25602	42	11	using	use	VERB
fbem-25602	42	12	the	the	DET
fbem-25602	42	13	excel	excel	PROPN
fbem-25602	42	14	solver	solver	NOUN
fbem-25602	42	15	.	.	PUNCT
fbem-25602	43	1	this	this	DET
fbem-25602	43	2	comprehensive	comprehensive	ADJ
fbem-25602	43	3	approach	approach	NOUN
fbem-25602	43	4	ensures	ensure	VERB
fbem-25602	43	5	an	an	DET
fbem-25602	43	6	accurate	accurate	ADJ
fbem-25602	43	7	235	235	NUM
fbem-25602	43	8	assessment	assessment	NOUN
fbem-25602	43	9	of	of	ADP
fbem-25602	43	10	risk	risk	NOUN
fbem-25602	43	11	-	-	PUNCT
fbem-25602	43	12	adjusted	adjust	VERB
fbem-25602	43	13	returns	return	NOUN
fbem-25602	43	14	.	.	PUNCT
fbem-25602	44	1	in	in	ADP
fbem-25602	44	2	addition	addition	NOUN
fbem-25602	44	3	,	,	PUNCT
fbem-25602	44	4	when	when	SCONJ
fbem-25602	44	5	calculating	calculate	VERB
fbem-25602	44	6	the	the	DET
fbem-25602	44	7	expected	expect	VERB
fbem-25602	44	8	selling	selling	NOUN
fbem-25602	44	9	price	price	NOUN
fbem-25602	44	10	of	of	ADP
fbem-25602	44	11	each	each	DET
fbem-25602	44	12	stock	stock	NOUN
fbem-25602	44	13	,	,	PUNCT
fbem-25602	44	14	we	we	PRON
fbem-25602	44	15	make	make	VERB
fbem-25602	44	16	the	the	DET
fbem-25602	44	17	calculation	calculation	NOUN
fbem-25602	44	18	according	accord	VERB
fbem-25602	44	19	to	to	ADP
fbem-25602	44	20	the	the	DET
fbem-25602	44	21	following	follow	VERB
fbem-25602	44	22	formula	formula	NOUN
fbem-25602	44	23	.	.	PUNCT
fbem-25602	45	1	𝐸(𝑅𝑖	𝐸(𝑅𝑖	X
fbem-25602	45	2	)	)	PUNCT
fbem-25602	45	3	=	=	SYM
fbem-25602	45	4	𝐸(𝑃𝑖)+𝐸(𝐷𝑖	𝐸(𝑃𝑖)+𝐸(𝐷𝑖	X
fbem-25602	45	5	)	)	PUNCT
fbem-25602	45	6	𝑃0	𝑃0	NOUN
fbem-25602	45	7	–	–	PUNCT
fbem-25602	45	8	1	1	NUM
fbem-25602	45	9	(	(	PUNCT
fbem-25602	45	10	2	2	NUM
fbem-25602	45	11	)	)	PUNCT
fbem-25602	45	12	2.1.4	2.1.4	NUM
fbem-25602	45	13	.	.	PUNCT
fbem-25602	45	14	risk	risk	NOUN
fbem-25602	45	15	-	-	PUNCT
fbem-25602	45	16	adjusted	adjust	VERB
fbem-25602	45	17	performance	performance	NOUN
fbem-25602	45	18	indicators	indicator	NOUN
fbem-25602	45	19	we	we	PRON
fbem-25602	45	20	choose	choose	VERB
fbem-25602	45	21	sharpe	sharpe	PROPN
fbem-25602	45	22	ratio	ratio	PROPN
fbem-25602	45	23	and	and	CCONJ
fbem-25602	45	24	treynor	treynor	NOUN
fbem-25602	45	25	measure	measure	NOUN
fbem-25602	45	26	to	to	PART
fbem-25602	45	27	evaluate	evaluate	VERB
fbem-25602	45	28	each	each	DET
fbem-25602	45	29	stock	stock	NOUN
fbem-25602	45	30	and	and	CCONJ
fbem-25602	45	31	portfolio	portfolio	NOUN
fbem-25602	45	32	selected	select	VERB
fbem-25602	45	33	.	.	PUNCT
fbem-25602	46	1	the	the	DET
fbem-25602	46	2	sharpe	sharpe	PROPN
fbem-25602	46	3	ratio	ratio	NOUN
fbem-25602	46	4	for	for	ADP
fbem-25602	46	5	each	each	DET
fbem-25602	46	6	stock	stock	NOUN
fbem-25602	46	7	we	we	PRON
fbem-25602	46	8	obtain	obtain	VERB
fbem-25602	46	9	by	by	ADP
fbem-25602	46	10	calculating	calculate	VERB
fbem-25602	46	11	the	the	DET
fbem-25602	46	12	average	average	ADJ
fbem-25602	46	13	excess	excess	ADJ
fbem-25602	46	14	return	return	NOUN
fbem-25602	46	15	for	for	ADP
fbem-25602	46	16	that	that	DET
fbem-25602	46	17	stock	stock	NOUN
fbem-25602	46	18	divided	divide	VERB
fbem-25602	46	19	by	by	ADP
fbem-25602	46	20	the	the	DET
fbem-25602	46	21	variance	variance	NOUN
fbem-25602	46	22	of	of	ADP
fbem-25602	46	23	the	the	DET
fbem-25602	46	24	excess	excess	ADJ
fbem-25602	46	25	return	return	NOUN
fbem-25602	46	26	.	.	PUNCT
fbem-25602	47	1	the	the	DET
fbem-25602	47	2	treynor	treynor	NOUN
fbem-25602	47	3	measure	measure	NOUN
fbem-25602	47	4	is	be	AUX
fbem-25602	47	5	then	then	ADV
fbem-25602	47	6	obtained	obtain	VERB
fbem-25602	47	7	by	by	ADP
fbem-25602	47	8	calculating	calculate	VERB
fbem-25602	47	9	the	the	DET
fbem-25602	47	10	average	average	ADJ
fbem-25602	47	11	excess	excess	ADJ
fbem-25602	47	12	return	return	NOUN
fbem-25602	47	13	of	of	ADP
fbem-25602	47	14	the	the	DET
fbem-25602	47	15	stock	stock	NOUN
fbem-25602	47	16	divided	divide	VERB
fbem-25602	47	17	by	by	ADP
fbem-25602	47	18	the	the	DET
fbem-25602	47	19	beta	beta	NOUN
fbem-25602	47	20	.	.	PUNCT
fbem-25602	48	1	2.1.5	2.1.5	NUM
fbem-25602	48	2	.	.	PUNCT
fbem-25602	48	3	benchmarks	benchmark	NOUN
fbem-25602	48	4	we	we	PRON
fbem-25602	48	5	discuss	discuss	VERB
fbem-25602	48	6	the	the	DET
fbem-25602	48	7	s&p	s&p	PROPN
fbem-25602	48	8	500	500	NUM
fbem-25602	48	9	and	and	CCONJ
fbem-25602	48	10	the	the	DET
fbem-25602	48	11	russell	russell	PROPN
fbem-25602	48	12	3000	3000	NUM
fbem-25602	48	13	as	as	ADP
fbem-25602	48	14	benchmarks	benchmark	NOUN
fbem-25602	48	15	.	.	PUNCT
fbem-25602	49	1	the	the	DET
fbem-25602	49	2	s&p	s&p	PROPN
fbem-25602	49	3	500	500	NUM
fbem-25602	49	4	index	index	NOUN
fbem-25602	49	5	tracks	track	VERB
fbem-25602	49	6	the	the	DET
fbem-25602	49	7	stock	stock	NOUN
fbem-25602	49	8	performance	performance	NOUN
fbem-25602	49	9	of	of	ADP
fbem-25602	49	10	the	the	DET
fbem-25602	49	11	500	500	NUM
fbem-25602	49	12	largest	large	ADJ
fbem-25602	49	13	companies	company	NOUN
fbem-25602	49	14	listed	list	VERB
fbem-25602	49	15	on	on	ADP
fbem-25602	49	16	u.s	u.s	PROPN
fbem-25602	49	17	.	.	PROPN
fbem-25602	49	18	stock	stock	NOUN
fbem-25602	49	19	exchanges	exchange	NOUN
fbem-25602	49	20	.	.	PUNCT
fbem-25602	50	1	the	the	DET
fbem-25602	50	2	russell	russell	PROPN
fbem-25602	50	3	3000	3000	NUM
fbem-25602	50	4	,	,	PUNCT
fbem-25602	50	5	on	on	ADP
fbem-25602	50	6	the	the	DET
fbem-25602	50	7	other	other	ADJ
fbem-25602	50	8	hand	hand	NOUN
fbem-25602	50	9	,	,	PUNCT
fbem-25602	50	10	contains	contain	VERB
fbem-25602	50	11	companies	company	NOUN
fbem-25602	50	12	of	of	ADP
fbem-25602	50	13	all	all	DET
fbem-25602	50	14	sizes	size	NOUN
fbem-25602	50	15	and	and	CCONJ
fbem-25602	50	16	types	type	NOUN
fbem-25602	50	17	,	,	PUNCT
fbem-25602	50	18	notably	notably	ADV
fbem-25602	50	19	many	many	ADJ
fbem-25602	50	20	engineering	engineering	NOUN
fbem-25602	50	21	and	and	CCONJ
fbem-25602	50	22	construction	construction	NOUN
fbem-25602	50	23	companies	company	NOUN
fbem-25602	50	24	as	as	ADV
fbem-25602	50	25	well	well	ADV
fbem-25602	50	26	as	as	ADP
fbem-25602	50	27	insurance	insurance	NOUN
fbem-25602	50	28	and	and	CCONJ
fbem-25602	50	29	reinsurance	reinsurance	NOUN
fbem-25602	50	30	company	company	NOUN
fbem-25602	50	31	stock	stock	NOUN
fbem-25602	50	32	indexes	index	NOUN
fbem-25602	50	33	.	.	PUNCT
fbem-25602	51	1	thus	thus	ADV
fbem-25602	51	2	,	,	PUNCT
fbem-25602	51	3	the	the	DET
fbem-25602	51	4	russell	russell	PROPN
fbem-25602	51	5	3000	3000	NUM
fbem-25602	51	6	is	be	AUX
fbem-25602	51	7	a	a	DET
fbem-25602	51	8	more	more	ADV
fbem-25602	51	9	appropriate	appropriate	ADJ
fbem-25602	51	10	benchmark	benchmark	NOUN
fbem-25602	51	11	for	for	ADP
fbem-25602	51	12	our	our	PRON
fbem-25602	51	13	discussion	discussion	NOUN
fbem-25602	51	14	.	.	PUNCT
fbem-25602	52	1	then	then	ADV
fbem-25602	52	2	,	,	PUNCT
fbem-25602	52	3	we	we	PRON
fbem-25602	52	4	calculate	calculate	VERB
fbem-25602	52	5	the	the	DET
fbem-25602	52	6	gap	gap	NOUN
fbem-25602	52	7	between	between	ADP
fbem-25602	52	8	the	the	DET
fbem-25602	52	9	average	average	ADJ
fbem-25602	52	10	monthly	monthly	ADJ
fbem-25602	52	11	return	return	NOUN
fbem-25602	52	12	(	(	PUNCT
fbem-25602	52	13	ri	ri	NOUN
fbem-25602	52	14	)	)	PUNCT
fbem-25602	52	15	and	and	CCONJ
fbem-25602	52	16	the	the	DET
fbem-25602	52	17	average	average	ADJ
fbem-25602	52	18	monthly	monthly	ADJ
fbem-25602	52	19	risk	risk	NOUN
fbem-25602	52	20	-	-	PUNCT
fbem-25602	52	21	free	free	ADJ
fbem-25602	52	22	interest	interest	NOUN
fbem-25602	52	23	rate	rate	NOUN
fbem-25602	52	24	(	(	PUNCT
fbem-25602	52	25	rf	rf	NOUN
fbem-25602	52	26	)	)	PUNCT
fbem-25602	52	27	in	in	ADP
fbem-25602	52	28	each	each	DET
fbem-25602	52	29	year	year	NOUN
fbem-25602	52	30	from	from	ADP
fbem-25602	52	31	2020	2020	NUM
fbem-25602	52	32	to	to	ADP
fbem-25602	52	33	2023	2023	NUM
fbem-25602	52	34	to	to	PART
fbem-25602	52	35	obtain	obtain	VERB
fbem-25602	52	36	the	the	DET
fbem-25602	52	37	value	value	NOUN
fbem-25602	52	38	of	of	ADP
fbem-25602	52	39	(	(	PUNCT
fbem-25602	52	40	ri	ri	NOUN
fbem-25602	52	41	-	-	PUNCT
fbem-25602	52	42	rf	rf	NOUN
fbem-25602	52	43	)	)	PUNCT
fbem-25602	52	44	.	.	PUNCT
fbem-25602	53	1	this	this	DET
fbem-25602	53	2	step	step	NOUN
fbem-25602	53	3	is	be	AUX
fbem-25602	53	4	repeated	repeat	VERB
fbem-25602	53	5	in	in	ADP
fbem-25602	53	6	the	the	DET
fbem-25602	53	7	benchmark	benchmark	NOUN
fbem-25602	53	8	test	test	NOUN
fbem-25602	53	9	to	to	PART
fbem-25602	53	10	obtain	obtain	VERB
fbem-25602	53	11	the	the	DET
fbem-25602	53	12	value	value	NOUN
fbem-25602	53	13	of	of	ADP
fbem-25602	53	14	(	(	PUNCT
fbem-25602	53	15	rm	rm	NOUN
fbem-25602	53	16	-	-	PUNCT
fbem-25602	53	17	rf	rf	NOUN
fbem-25602	53	18	)	)	PUNCT
fbem-25602	53	19	.	.	PUNCT
fbem-25602	54	1	then	then	ADV
fbem-25602	54	2	a	a	DET
fbem-25602	54	3	regression	regression	NOUN
fbem-25602	54	4	model	model	NOUN
fbem-25602	54	5	with	with	ADP
fbem-25602	54	6	(	(	PUNCT
fbem-25602	54	7	ri	ri	NOUN
fbem-25602	54	8	-	-	PUNCT
fbem-25602	54	9	rm	rm	NOUN
fbem-25602	54	10	)	)	PUNCT
fbem-25602	54	11	as	as	ADP
fbem-25602	54	12	the	the	DET
fbem-25602	54	13	dependent	dependent	ADJ
fbem-25602	54	14	variable	variable	NOUN
fbem-25602	54	15	and	and	CCONJ
fbem-25602	54	16	(	(	PUNCT
fbem-25602	54	17	rm	rm	NOUN
fbem-25602	54	18	-	-	PUNCT
fbem-25602	54	19	rf	rf	NOUN
fbem-25602	54	20	)	)	PUNCT
fbem-25602	54	21	as	as	SCONJ
fbem-25602	54	22	the	the	DET
fbem-25602	54	23	independent	independent	ADJ
fbem-25602	54	24	variable	variable	NOUN
fbem-25602	54	25	is	be	AUX
fbem-25602	54	26	established	establish	VERB
fbem-25602	54	27	.	.	PUNCT
fbem-25602	55	1	2.1.6	2.1.6	X
fbem-25602	55	2	.	.	NOUN
fbem-25602	55	3	process	process	NOUN
fbem-25602	55	4	of	of	ADP
fbem-25602	55	5	evaluation	evaluation	NOUN
fbem-25602	55	6	we	we	PRON
fbem-25602	55	7	first	first	ADV
fbem-25602	55	8	calculate	calculate	VERB
fbem-25602	55	9	the	the	DET
fbem-25602	55	10	monthly	monthly	ADJ
fbem-25602	55	11	return	return	NOUN
fbem-25602	55	12	,	,	PUNCT
fbem-25602	55	13	current	current	ADJ
fbem-25602	55	14	return	return	NOUN
fbem-25602	55	15	,	,	PUNCT
fbem-25602	55	16	and	and	CCONJ
fbem-25602	55	17	risk	risk	NOUN
fbem-25602	55	18	,	,	PUNCT
fbem-25602	55	19	including	include	VERB
fbem-25602	55	20	dividends	dividend	NOUN
fbem-25602	55	21	,	,	PUNCT
fbem-25602	55	22	for	for	ADP
fbem-25602	55	23	each	each	DET
fbem-25602	55	24	stock	stock	NOUN
fbem-25602	55	25	from	from	ADP
fbem-25602	55	26	january	january	PROPN
fbem-25602	55	27	2	2	NUM
fbem-25602	55	28	,	,	PUNCT
fbem-25602	55	29	2024	2024	NUM
fbem-25602	55	30	to	to	ADP
fbem-25602	55	31	april	april	PROPN
fbem-25602	55	32	30	30	NUM
fbem-25602	55	33	,	,	PUNCT
fbem-25602	55	34	2024	2024	NUM
fbem-25602	55	35	.	.	PUNCT
fbem-25602	56	1	the	the	DET
fbem-25602	56	2	portfolio	portfolio	NOUN
fbem-25602	56	3	value	value	NOUN
fbem-25602	56	4	is	be	AUX
fbem-25602	56	5	calculated	calculate	VERB
fbem-25602	56	6	by	by	ADP
fbem-25602	56	7	summing	sum	VERB
fbem-25602	56	8	the	the	DET
fbem-25602	56	9	values	value	NOUN
fbem-25602	56	10	of	of	ADP
fbem-25602	56	11	all	all	DET
fbem-25602	56	12	stocks	stock	NOUN
fbem-25602	56	13	and	and	CCONJ
fbem-25602	56	14	deriving	derive	VERB
fbem-25602	56	15	the	the	DET
fbem-25602	56	16	monthly	monthly	ADJ
fbem-25602	56	17	portfolio	portfolio	NOUN
fbem-25602	56	18	return	return	NOUN
fbem-25602	56	19	.	.	PUNCT
fbem-25602	57	1	using	use	VERB
fbem-25602	57	2	four	four	NUM
fbem-25602	57	3	months	month	NOUN
fbem-25602	57	4	of	of	ADP
fbem-25602	57	5	data	datum	NOUN
fbem-25602	57	6	,	,	PUNCT
fbem-25602	57	7	we	we	PRON
fbem-25602	57	8	determine	determine	VERB
fbem-25602	57	9	the	the	DET
fbem-25602	57	10	standard	standard	ADJ
fbem-25602	57	11	deviation	deviation	NOUN
fbem-25602	57	12	of	of	ADP
fbem-25602	57	13	monthly	monthly	ADJ
fbem-25602	57	14	excess	excess	ADJ
fbem-25602	57	15	returns	return	NOUN
fbem-25602	57	16	for	for	ADP
fbem-25602	57	17	portfolios	portfolio	NOUN
fbem-25602	57	18	and	and	CCONJ
fbem-25602	57	19	individual	individual	ADJ
fbem-25602	57	20	stocks	stock	NOUN
fbem-25602	57	21	.	.	PUNCT
fbem-25602	58	1	finally	finally	ADV
fbem-25602	58	2	,	,	PUNCT
fbem-25602	58	3	we	we	PRON
fbem-25602	58	4	use	use	VERB
fbem-25602	58	5	these	these	DET
fbem-25602	58	6	four	four	NUM
fbem-25602	58	7	-	-	PUNCT
fbem-25602	58	8	month	month	NOUN
fbem-25602	58	9	returns	return	NOUN
fbem-25602	58	10	and	and	CCONJ
fbem-25602	58	11	betas	beta	NOUN
fbem-25602	58	12	to	to	PART
fbem-25602	58	13	calculate	calculate	VERB
fbem-25602	58	14	sharpe	sharpe	PROPN
fbem-25602	58	15	ratios	ratio	NOUN
fbem-25602	58	16	and	and	CCONJ
fbem-25602	58	17	treynor	treynor	NOUN
fbem-25602	58	18	ratios	ratio	NOUN
fbem-25602	58	19	.	.	PUNCT
fbem-25602	59	1	2.2	2.2	NUM
fbem-25602	59	2	.	.	PUNCT
fbem-25602	59	3	results	result	VERB
fbem-25602	59	4	2.2.1	2.2.1	NUM
fbem-25602	59	5	.	.	PUNCT
fbem-25602	60	1	prediction	prediction	NOUN
fbem-25602	60	2	of	of	ADP
fbem-25602	60	3	portfolio	portfolio	NOUN
fbem-25602	60	4	’s	’s	PART
fbem-25602	60	5	performance	performance	NOUN
fbem-25602	60	6	through	through	ADP
fbem-25602	60	7	the	the	DET
fbem-25602	60	8	above	above	ADJ
fbem-25602	60	9	methods	method	NOUN
fbem-25602	60	10	and	and	CCONJ
fbem-25602	60	11	data	datum	NOUN
fbem-25602	60	12	,	,	PUNCT
fbem-25602	60	13	the	the	DET
fbem-25602	60	14	expected	expect	VERB
fbem-25602	60	15	return	return	NOUN
fbem-25602	60	16	and	and	CCONJ
fbem-25602	60	17	risk	risk	NOUN
fbem-25602	60	18	of	of	ADP
fbem-25602	60	19	the	the	DET
fbem-25602	60	20	portfolio	portfolio	NOUN
fbem-25602	60	21	are	be	AUX
fbem-25602	60	22	shown	show	VERB
fbem-25602	60	23	below	below	ADP
fbem-25602	60	24	(	(	PUNCT
fbem-25602	60	25	table	table	NOUN
fbem-25602	60	26	1	1	NUM
fbem-25602	60	27	)	)	PUNCT
fbem-25602	60	28	.	.	PUNCT
fbem-25602	61	1	overall	overall	ADV
fbem-25602	61	2	,	,	PUNCT
fbem-25602	61	3	this	this	DET
fbem-25602	61	4	portfolio	portfolio	NOUN
fbem-25602	61	5	is	be	AUX
fbem-25602	61	6	a	a	DET
fbem-25602	61	7	relatively	relatively	ADV
fbem-25602	61	8	high	high	ADJ
fbem-25602	61	9	risk	risk	NOUN
fbem-25602	61	10	and	and	CCONJ
fbem-25602	61	11	high	high	ADJ
fbem-25602	61	12	return	return	NOUN
fbem-25602	61	13	portfolio	portfolio	NOUN
fbem-25602	61	14	,	,	PUNCT
fbem-25602	61	15	with	with	ADP
fbem-25602	61	16	an	an	DET
fbem-25602	61	17	expected	expect	VERB
fbem-25602	61	18	annual	annual	ADJ
fbem-25602	61	19	return	return	NOUN
fbem-25602	61	20	of	of	ADP
fbem-25602	61	21	about	about	ADV
fbem-25602	61	22	20	20	NUM
fbem-25602	61	23	%	%	NOUN
fbem-25602	61	24	and	and	CCONJ
fbem-25602	61	25	an	an	DET
fbem-25602	61	26	expected	expect	VERB
fbem-25602	61	27	annual	annual	ADJ
fbem-25602	61	28	risk	risk	NOUN
fbem-25602	61	29	of	of	ADP
fbem-25602	61	30	19	19	NUM
fbem-25602	61	31	%	%	NOUN
fbem-25602	61	32	.	.	PUNCT
fbem-25602	62	1	in	in	ADP
fbem-25602	62	2	addition	addition	NOUN
fbem-25602	62	3	,	,	PUNCT
fbem-25602	62	4	the	the	DET
fbem-25602	62	5	sharpe	sharpe	PROPN
fbem-25602	62	6	ratio	ratio	NOUN
fbem-25602	62	7	of	of	ADP
fbem-25602	62	8	the	the	DET
fbem-25602	62	9	portfolio	portfolio	NOUN
fbem-25602	62	10	is	be	AUX
fbem-25602	62	11	0.7995	0.7995	NUM
fbem-25602	62	12	,	,	PUNCT
fbem-25602	62	13	higher	high	ADJ
fbem-25602	62	14	than	than	ADP
fbem-25602	62	15	the	the	DET
fbem-25602	62	16	market	market	NOUN
fbem-25602	62	17	sharpe	sharpe	NOUN
fbem-25602	62	18	ratio	ratio	NOUN
fbem-25602	62	19	of	of	ADP
fbem-25602	62	20	0.7018	0.7018	NUM
fbem-25602	62	21	.	.	PUNCT
fbem-25602	63	1	this	this	PRON
fbem-25602	63	2	illustrates	illustrate	VERB
fbem-25602	63	3	that	that	SCONJ
fbem-25602	63	4	the	the	DET
fbem-25602	63	5	portfolio	portfolio	NOUN
fbem-25602	63	6	has	have	VERB
fbem-25602	63	7	the	the	DET
fbem-25602	63	8	advantage	advantage	NOUN
fbem-25602	63	9	of	of	ADP
fbem-25602	63	10	being	be	AUX
fbem-25602	63	11	more	more	ADV
fbem-25602	63	12	efficient	efficient	ADJ
fbem-25602	63	13	because	because	SCONJ
fbem-25602	63	14	it	it	PRON
fbem-25602	63	15	can	can	AUX
fbem-25602	63	16	provide	provide	VERB
fbem-25602	63	17	higher	high	ADJ
fbem-25602	63	18	returns	return	NOUN
fbem-25602	63	19	than	than	ADP
fbem-25602	63	20	the	the	DET
fbem-25602	63	21	market	market	NOUN
fbem-25602	63	22	for	for	ADP
fbem-25602	63	23	the	the	DET
fbem-25602	63	24	same	same	ADJ
fbem-25602	63	25	level	level	NOUN
fbem-25602	63	26	of	of	ADP
fbem-25602	63	27	risk	risk	NOUN
fbem-25602	63	28	.	.	PUNCT
fbem-25602	64	1	table	table	NOUN
fbem-25602	64	2	1	1	NUM
fbem-25602	64	3	.	.	PUNCT
fbem-25602	65	1	the	the	DET
fbem-25602	65	2	prediction	prediction	NOUN
fbem-25602	65	3	of	of	ADP
fbem-25602	65	4	portfolio	portfolio	NOUN
fbem-25602	65	5	2.2.2	2.2.2	NUM
fbem-25602	65	6	.	.	PUNCT
fbem-25602	66	1	performance	performance	NOUN
fbem-25602	66	2	of	of	ADP
fbem-25602	66	3	stocks	stock	NOUN
fbem-25602	66	4	’	'	PUNCT
fbem-25602	66	5	prediction	prediction	NOUN
fbem-25602	66	6	table	table	NOUN
fbem-25602	66	7	2	2	NUM
fbem-25602	66	8	.	.	PUNCT
fbem-25602	66	9	a	a	DET
fbem-25602	66	10	portfolio	portfolio	NOUN
fbem-25602	66	11	of	of	ADP
fbem-25602	66	12	stocks	stock	NOUN
fbem-25602	66	13	as	as	ADP
fbem-25602	66	14	of	of	ADP
fbem-25602	66	15	2	2	NUM
fbem-25602	66	16	january	january	NOUN
fbem-25602	66	17	2024	2024	NUM
fbem-25602	66	18	236	236	NUM
fbem-25602	66	19	2.2.3	2.2.3	NUM
fbem-25602	66	20	.	.	PUNCT
fbem-25602	67	1	the	the	DET
fbem-25602	67	2	actual	actual	ADJ
fbem-25602	67	3	performance	performance	NOUN
fbem-25602	67	4	of	of	ADP
fbem-25602	67	5	stocks	stock	NOUN
fbem-25602	67	6	table	table	VERB
fbem-25602	67	7	3	3	NUM
fbem-25602	67	8	.	.	PUNCT
fbem-25602	68	1	a	a	DET
fbem-25602	68	2	portfolio	portfolio	NOUN
fbem-25602	68	3	of	of	ADP
fbem-25602	68	4	stocks	stock	NOUN
fbem-25602	68	5	as	as	ADP
fbem-25602	68	6	of	of	ADP
fbem-25602	68	7	30	30	NUM
fbem-25602	68	8	april	april	PROPN
fbem-25602	68	9	2024	2024	NUM
fbem-25602	68	10	2.2.4	2.2.4	NUM
fbem-25602	68	11	.	.	PUNCT
fbem-25602	69	1	the	the	DET
fbem-25602	69	2	actual	actual	ADJ
fbem-25602	69	3	performance	performance	NOUN
fbem-25602	69	4	of	of	ADP
fbem-25602	69	5	portfolio	portfolio	NOUN
fbem-25602	69	6	the	the	DET
fbem-25602	69	7	current	current	ADJ
fbem-25602	69	8	-	-	PUNCT
fbem-25602	69	9	to	to	ADP
fbem-25602	69	10	-	-	PUNCT
fbem-25602	69	11	date	date	NOUN
fbem-25602	69	12	return	return	NOUN
fbem-25602	69	13	of	of	ADP
fbem-25602	69	14	portfolio	portfolio	NOUN
fbem-25602	69	15	is	be	AUX
fbem-25602	69	16	17.49	17.49	NUM
fbem-25602	69	17	%	%	NOUN
fbem-25602	69	18	and	and	CCONJ
fbem-25602	69	19	current	current	ADJ
fbem-25602	69	20	-	-	PUNCT
fbem-25602	69	21	to	to	ADP
fbem-25602	69	22	-	-	PUNCT
fbem-25602	69	23	date	date	NOUN
fbem-25602	69	24	risk	risk	NOUN
fbem-25602	69	25	of	of	ADP
fbem-25602	69	26	portfolio	portfolio	NOUN
fbem-25602	69	27	is	be	AUX
fbem-25602	69	28	8.36	8.36	NUM
fbem-25602	69	29	%	%	NOUN
fbem-25602	69	30	.	.	PUNCT
fbem-25602	70	1	and	and	CCONJ
fbem-25602	70	2	the	the	DET
fbem-25602	70	3	sharpe	sharpe	PROPN
fbem-25602	70	4	ratio	ratio	NOUN
fbem-25602	70	5	of	of	ADP
fbem-25602	70	6	the	the	DET
fbem-25602	70	7	portfolio	portfolio	NOUN
fbem-25602	70	8	is	be	AUX
fbem-25602	70	9	0.9507	0.9507	NUM
fbem-25602	70	10	and	and	CCONJ
fbem-25602	70	11	the	the	DET
fbem-25602	70	12	treynor	treynor	NOUN
fbem-25602	70	13	measure	measure	NOUN
fbem-25602	70	14	is	be	AUX
fbem-25602	70	15	0.1626	0.1626	NUM
fbem-25602	70	16	,	,	PUNCT
fbem-25602	70	17	both	both	PRON
fbem-25602	70	18	indicating	indicate	VERB
fbem-25602	70	19	strong	strong	ADJ
fbem-25602	70	20	risk	risk	NOUN
fbem-25602	70	21	-	-	PUNCT
fbem-25602	70	22	adjusted	adjust	VERB
fbem-25602	70	23	performance	performance	NOUN
fbem-25602	70	24	for	for	ADP
fbem-25602	70	25	the	the	DET
fbem-25602	70	26	first	first	ADJ
fbem-25602	70	27	four	four	NUM
fbem-25602	70	28	months	month	NOUN
fbem-25602	70	29	of	of	ADP
fbem-25602	70	30	2024	2024	NUM
fbem-25602	70	31	.	.	PUNCT
fbem-25602	71	1	a	a	DET
fbem-25602	71	2	high	high	ADJ
fbem-25602	71	3	sharpe	sharpe	PROPN
fbem-25602	71	4	ratio	ratio	NOUN
fbem-25602	71	5	reflects	reflect	VERB
fbem-25602	71	6	a	a	DET
fbem-25602	71	7	good	good	ADJ
fbem-25602	71	8	return	return	NOUN
fbem-25602	71	9	relative	relative	ADJ
fbem-25602	71	10	to	to	ADP
fbem-25602	71	11	the	the	DET
fbem-25602	71	12	risk	risk	NOUN
fbem-25602	71	13	taken	take	VERB
fbem-25602	71	14	,	,	PUNCT
fbem-25602	71	15	while	while	SCONJ
fbem-25602	71	16	the	the	DET
fbem-25602	71	17	treynor	treynor	NOUN
fbem-25602	71	18	measure	measure	NOUN
fbem-25602	71	19	shows	show	VERB
fbem-25602	71	20	an	an	DET
fbem-25602	71	21	effective	effective	ADJ
fbem-25602	71	22	management	management	NOUN
fbem-25602	71	23	of	of	ADP
fbem-25602	71	24	market	market	NOUN
fbem-25602	71	25	risk	risk	NOUN
fbem-25602	71	26	.	.	PUNCT
fbem-25602	72	1	table	table	NOUN
fbem-25602	72	2	4	4	NUM
fbem-25602	72	3	.	.	PUNCT
fbem-25602	73	1	the	the	DET
fbem-25602	73	2	evaluation	evaluation	NOUN
fbem-25602	73	3	of	of	ADP
fbem-25602	73	4	portfolio	portfolio	NOUN
fbem-25602	73	5	2.2.5	2.2.5	NUM
fbem-25602	73	6	.	.	PUNCT
fbem-25602	74	1	evaluation	evaluation	NOUN
fbem-25602	74	2	of	of	ADP
fbem-25602	74	3	the	the	DET
fbem-25602	74	4	difference	difference	NOUN
fbem-25602	74	5	between	between	ADP
fbem-25602	74	6	prediction	prediction	NOUN
fbem-25602	74	7	and	and	CCONJ
fbem-25602	74	8	actual	actual	ADJ
fbem-25602	74	9	situation	situation	NOUN
fbem-25602	74	10	however	however	ADV
fbem-25602	74	11	,	,	PUNCT
fbem-25602	74	12	there	there	PRON
fbem-25602	74	13	were	be	VERB
fbem-25602	74	14	some	some	DET
fbem-25602	74	15	differences	difference	NOUN
fbem-25602	74	16	between	between	ADP
fbem-25602	74	17	the	the	DET
fbem-25602	74	18	forecast	forecast	NOUN
fbem-25602	74	19	and	and	CCONJ
fbem-25602	74	20	the	the	DET
fbem-25602	74	21	actual	actual	ADJ
fbem-25602	74	22	results	result	NOUN
fbem-25602	74	23	for	for	ADP
fbem-25602	74	24	each	each	DET
fbem-25602	74	25	stock	stock	NOUN
fbem-25602	74	26	,	,	PUNCT
fbem-25602	74	27	and	and	CCONJ
fbem-25602	74	28	the	the	DET
fbem-25602	74	29	actual	actual	ADJ
fbem-25602	74	30	results	result	NOUN
fbem-25602	74	31	were	be	AUX
fbem-25602	74	32	generally	generally	ADV
fbem-25602	74	33	worse	bad	ADJ
fbem-25602	74	34	than	than	ADP
fbem-25602	74	35	the	the	DET
fbem-25602	74	36	forecast	forecast	NOUN
fbem-25602	74	37	.	.	PUNCT
fbem-25602	75	1	this	this	PRON
fbem-25602	75	2	could	could	AUX
fbem-25602	75	3	be	be	AUX
fbem-25602	75	4	due	due	ADJ
fbem-25602	75	5	to	to	ADP
fbem-25602	75	6	macroeconomic	macroeconomic	ADJ
fbem-25602	75	7	conditions	condition	NOUN
fbem-25602	75	8	,	,	PUNCT
fbem-25602	75	9	market	market	NOUN
fbem-25602	75	10	trends	trend	NOUN
fbem-25602	75	11	,	,	PUNCT
fbem-25602	75	12	and	and	CCONJ
fbem-25602	75	13	company	company	NOUN
fbem-25602	75	14	performance	performance	NOUN
fbem-25602	75	15	.	.	PUNCT
fbem-25602	76	1	the	the	DET
fbem-25602	76	2	first	first	ADJ
fbem-25602	76	3	is	be	AUX
fbem-25602	76	4	that	that	DET
fbem-25602	76	5	high	high	ADJ
fbem-25602	76	6	inflation	inflation	NOUN
fbem-25602	76	7	in	in	ADP
fbem-25602	76	8	the	the	DET
fbem-25602	76	9	u.s	u.s	PROPN
fbem-25602	76	10	.	.	PROPN
fbem-25602	76	11	has	have	AUX
fbem-25602	76	12	led	lead	VERB
fbem-25602	76	13	to	to	ADP
fbem-25602	76	14	higher	high	ADJ
fbem-25602	76	15	interest	interest	NOUN
fbem-25602	76	16	rates	rate	NOUN
fbem-25602	76	17	,	,	PUNCT
fbem-25602	76	18	raising	raise	VERB
fbem-25602	76	19	companies	company	NOUN
fbem-25602	76	20	'	'	PART
fbem-25602	76	21	borrowing	borrowing	NOUN
fbem-25602	76	22	costs	cost	NOUN
fbem-25602	76	23	and	and	CCONJ
fbem-25602	76	24	reducing	reduce	VERB
fbem-25602	76	25	consumer	consumer	NOUN
fbem-25602	76	26	spending	spending	NOUN
fbem-25602	76	27	,	,	PUNCT
fbem-25602	76	28	which	which	PRON
fbem-25602	76	29	has	have	AUX
fbem-25602	76	30	compressed	compress	VERB
fbem-25602	76	31	stock	stock	NOUN
fbem-25602	76	32	valuations	valuation	NOUN
fbem-25602	76	33	(	(	PUNCT
fbem-25602	76	34	molenaar	molenaar	NOUN
fbem-25602	76	35	,	,	PUNCT
fbem-25602	76	36	sénéchal	sénéchal	NOUN
fbem-25602	76	37	,	,	PUNCT
fbem-25602	76	38	swinkels	swinkel	NOUN
fbem-25602	76	39	&	&	CCONJ
fbem-25602	76	40	wang	wang	PROPN
fbem-25602	76	41	,	,	PUNCT
fbem-25602	76	42	2024	2024	NUM
fbem-25602	76	43	)	)	PUNCT
fbem-25602	76	44	.	.	PUNCT
fbem-25602	77	1	secondly	secondly	ADV
fbem-25602	77	2	,	,	PUNCT
fbem-25602	77	3	industry	industry	NOUN
fbem-25602	77	4	-	-	PUNCT
fbem-25602	77	5	specific	specific	ADJ
fbem-25602	77	6	challenges	challenge	NOUN
fbem-25602	77	7	such	such	ADJ
fbem-25602	77	8	as	as	ADP
fbem-25602	77	9	reduced	reduce	VERB
fbem-25602	77	10	infrastructure	infrastructure	NOUN
fbem-25602	77	11	spending	spending	NOUN
fbem-25602	77	12	and	and	CCONJ
fbem-25602	77	13	supply	supply	NOUN
fbem-25602	77	14	chain	chain	NOUN
fbem-25602	77	15	disruptions	disruption	NOUN
fbem-25602	77	16	have	have	AUX
fbem-25602	77	17	also	also	ADV
fbem-25602	77	18	affected	affect	VERB
fbem-25602	77	19	sectors	sector	NOUN
fbem-25602	77	20	(	(	PUNCT
fbem-25602	77	21	yu	yu	PROPN
fbem-25602	77	22	et	et	PROPN
fbem-25602	77	23	al	al	PROPN
fbem-25602	77	24	.	.	PROPN
fbem-25602	77	25	,	,	PUNCT
fbem-25602	77	26	2021	2021	NUM
fbem-25602	77	27	)	)	PUNCT
fbem-25602	77	28	.	.	PUNCT
fbem-25602	78	1	such	such	ADJ
fbem-25602	78	2	as	as	ADP
fbem-25602	78	3	construction	construction	NOUN
fbem-25602	78	4	and	and	CCONJ
fbem-25602	78	5	engineering	engineering	NOUN
fbem-25602	78	6	(	(	PUNCT
fbem-25602	78	7	e.g.	e.g.	ADV
fbem-25602	78	8	aca	aca	PROPN
fbem-25602	78	9	,	,	PUNCT
fbem-25602	78	10	acm	acm	PROPN
fbem-25602	78	11	)	)	PUNCT
fbem-25602	78	12	.	.	PUNCT
fbem-25602	79	1	increased	increase	VERB
fbem-25602	79	2	market	market	NOUN
fbem-25602	79	3	volatility	volatility	NOUN
fbem-25602	79	4	has	have	AUX
fbem-25602	79	5	affected	affect	VERB
fbem-25602	79	6	insurers	insurer	NOUN
fbem-25602	79	7	(	(	PUNCT
fbem-25602	79	8	e.g.	e.g.	ADV
fbem-25602	79	9	rga	rga	NOUN
fbem-25602	79	10	,	,	PUNCT
fbem-25602	79	11	rnr	rnr	NOUN
fbem-25602	79	12	)	)	PUNCT
fbem-25602	79	13	through	through	ADP
fbem-25602	79	14	higher	high	ADJ
fbem-25602	79	15	claim	claim	NOUN
fbem-25602	79	16	costs	cost	NOUN
fbem-25602	79	17	and	and	CCONJ
fbem-25602	79	18	lower	low	ADJ
fbem-25602	79	19	investment	investment	NOUN
fbem-25602	79	20	returns	return	NOUN
fbem-25602	79	21	(	(	PUNCT
fbem-25602	79	22	koijen	koijen	PROPN
fbem-25602	79	23	&	&	CCONJ
fbem-25602	79	24	yogo	yogo	PROPN
fbem-25602	79	25	,	,	PUNCT
fbem-25602	79	26	2022	2022	NUM
fbem-25602	79	27	)	)	PUNCT
fbem-25602	79	28	.	.	PUNCT
fbem-25602	80	1	finally	finally	ADV
fbem-25602	80	2	,	,	PUNCT
fbem-25602	80	3	firm	firm	ADJ
fbem-25602	80	4	-	-	PUNCT
fbem-25602	80	5	specific	specific	ADJ
fbem-25602	80	6	factors	factor	NOUN
fbem-25602	80	7	,	,	PUNCT
fbem-25602	80	8	including	include	VERB
fbem-25602	80	9	earnings	earning	NOUN
fbem-25602	80	10	reports	report	NOUN
fbem-25602	80	11	,	,	PUNCT
fbem-25602	80	12	management	management	NOUN
fbem-25602	80	13	changes	change	NOUN
fbem-25602	80	14	,	,	PUNCT
fbem-25602	80	15	and	and	CCONJ
fbem-25602	80	16	strategic	strategic	ADJ
fbem-25602	80	17	adjustments	adjustment	NOUN
fbem-25602	80	18	,	,	PUNCT
fbem-25602	80	19	further	further	ADJ
fbem-25602	80	20	influence	influence	NOUN
fbem-25602	80	21	stock	stock	NOUN
fbem-25602	80	22	performance	performance	NOUN
fbem-25602	80	23	(	(	PUNCT
fbem-25602	80	24	maher	maher	PROPN
fbem-25602	80	25	azzam	azzam	PROPN
fbem-25602	80	26	ghaleb	ghaleb	PROPN
fbem-25602	80	27	al	al	PROPN
fbem-25602	80	28	-	-	PUNCT
fbem-25602	80	29	qadi	qadi	PROPN
fbem-25602	80	30	et	et	PROPN
fbem-25602	80	31	al	al	PROPN
fbem-25602	80	32	.	.	PROPN
fbem-25602	80	33	,	,	PUNCT
fbem-25602	80	34	n.d	n.d	PROPN
fbem-25602	80	35	.	.	PROPN
fbem-25602	80	36	)	)	PUNCT
fbem-25602	80	37	.	.	PUNCT
fbem-25602	81	1	for	for	ADP
fbem-25602	81	2	example	example	NOUN
fbem-25602	81	3	,	,	PUNCT
fbem-25602	81	4	aca	aca	PROPN
fbem-25602	81	5	's	's	PART
fbem-25602	81	6	actual	actual	ADJ
fbem-25602	81	7	rate	rate	NOUN
fbem-25602	81	8	of	of	ADP
fbem-25602	81	9	return	return	NOUN
fbem-25602	81	10	is	be	AUX
fbem-25602	81	11	-0.0733	-0.0733	VERB
fbem-25602	81	12	compared	compare	VERB
fbem-25602	81	13	to	to	ADP
fbem-25602	81	14	the	the	DET
fbem-25602	81	15	forecast	forecast	NOUN
fbem-25602	81	16	of	of	ADP
fbem-25602	81	17	0.13	0.13	NUM
fbem-25602	81	18	,	,	PUNCT
fbem-25602	81	19	reflecting	reflect	VERB
fbem-25602	81	20	the	the	DET
fbem-25602	81	21	slowdown	slowdown	NOUN
fbem-25602	81	22	in	in	ADP
fbem-25602	81	23	project	project	NOUN
fbem-25602	81	24	financing	financing	NOUN
fbem-25602	81	25	costs	cost	NOUN
fbem-25602	81	26	and	and	CCONJ
fbem-25602	81	27	infrastructure	infrastructure	NOUN
fbem-25602	81	28	investment	investment	NOUN
fbem-25602	81	29	.	.	PUNCT
fbem-25602	82	1	2.2.6	2.2.6	X
fbem-25602	82	2	.	.	PUNCT
fbem-25602	82	3	commentary	commentary	NOUN
fbem-25602	82	4	for	for	ADP
fbem-25602	82	5	these	these	DET
fbem-25602	82	6	assets	asset	NOUN
fbem-25602	82	7	as	as	ADP
fbem-25602	82	8	for	for	ADP
fbem-25602	82	9	the	the	DET
fbem-25602	82	10	performance	performance	NOUN
fbem-25602	82	11	of	of	ADP
fbem-25602	82	12	each	each	DET
fbem-25602	82	13	asset	asset	NOUN
fbem-25602	82	14	,	,	PUNCT
fbem-25602	82	15	according	accord	VERB
fbem-25602	82	16	to	to	ADP
fbem-25602	82	17	table	table	NOUN
fbem-25602	82	18	3	3	NUM
fbem-25602	82	19	and	and	CCONJ
fbem-25602	82	20	table	table	NOUN
fbem-25602	82	21	5	5	NUM
fbem-25602	82	22	,	,	PUNCT
fbem-25602	82	23	most	most	ADJ
fbem-25602	82	24	assets	asset	NOUN
fbem-25602	82	25	perform	perform	VERB
fbem-25602	82	26	well	well	ADV
fbem-25602	82	27	,	,	PUNCT
fbem-25602	82	28	while	while	SCONJ
fbem-25602	82	29	a	a	DET
fbem-25602	82	30	small	small	ADJ
fbem-25602	82	31	number	number	NOUN
fbem-25602	82	32	of	of	ADP
fbem-25602	82	33	assets	asset	NOUN
fbem-25602	82	34	need	need	VERB
fbem-25602	82	35	investors	investor	NOUN
fbem-25602	82	36	'	'	PART
fbem-25602	82	37	attention	attention	NOUN
fbem-25602	82	38	.	.	PUNCT
fbem-25602	83	1	the	the	DET
fbem-25602	83	2	stock	stock	NOUN
fbem-25602	83	3	returns	return	NOUN
fbem-25602	83	4	of	of	ADP
fbem-25602	83	5	aca	aca	PROPN
fbem-25602	83	6	,	,	PUNCT
fbem-25602	83	7	acm	acm	PROPN
fbem-25602	83	8	and	and	CCONJ
fbem-25602	83	9	spnt	spnt	NOUN
fbem-25602	83	10	compared	compare	VERB
fbem-25602	83	11	with	with	ADP
fbem-25602	83	12	2023	2023	NUM
fbem-25602	83	13	decreased	decrease	VERB
fbem-25602	83	14	.	.	PUNCT
fbem-25602	84	1	four	four	NUM
fbem-25602	84	2	stocks	stock	NOUN
fbem-25602	84	3	flr	flr	PROPN
fbem-25602	84	4	,	,	PUNCT
fbem-25602	84	5	glre	glre	NOUN
fbem-25602	84	6	,	,	PUNCT
fbem-25602	84	7	oxbr	oxbr	PROPN
fbem-25602	84	8	,	,	PUNCT
fbem-25602	84	9	spnt	spnt	NOUN
fbem-25602	84	10	are	be	AUX
fbem-25602	84	11	less	less	ADV
fbem-25602	84	12	risky	risky	ADJ
fbem-25602	84	13	compared	compare	VERB
fbem-25602	84	14	to	to	ADP
fbem-25602	84	15	2023	2023	NUM
fbem-25602	84	16	.	.	PUNCT
fbem-25602	85	1	compared	compare	VERB
fbem-25602	85	2	with	with	ADP
fbem-25602	85	3	the	the	DET
fbem-25602	85	4	benchmark	benchmark	NOUN
fbem-25602	85	5	,	,	PUNCT
fbem-25602	85	6	eme	eme	NOUN
fbem-25602	85	7	,	,	PUNCT
fbem-25602	85	8	flr	flr	PROPN
fbem-25602	85	9	,	,	PUNCT
fbem-25602	85	10	j	j	PROPN
fbem-25602	85	11	,	,	PUNCT
fbem-25602	85	12	mtz	mtz	PROPN
fbem-25602	85	13	,	,	PUNCT
fbem-25602	85	14	glre	glre	PROPN
fbem-25602	85	15	,	,	PUNCT
fbem-25602	85	16	rga	rga	PROPN
fbem-25602	85	17	,	,	PUNCT
fbem-25602	85	18	rnr	rnr	PROPN
fbem-25602	85	19	,	,	PUNCT
fbem-25602	85	20	this	this	PRON
fbem-25602	85	21	a	a	DET
fbem-25602	85	22	few	few	ADJ
fbem-25602	85	23	stocks	stock	NOUN
fbem-25602	85	24	better	well	ADJ
fbem-25602	85	25	returns	return	NOUN
fbem-25602	85	26	than	than	ADP
fbem-25602	85	27	the	the	DET
fbem-25602	85	28	benchmark	benchmark	NOUN
fbem-25602	85	29	,	,	PUNCT
fbem-25602	85	30	but	but	CCONJ
fbem-25602	85	31	in	in	ADP
fbem-25602	85	32	terms	term	NOUN
fbem-25602	85	33	of	of	ADP
fbem-25602	85	34	risk	risk	NOUN
fbem-25602	85	35	,	,	PUNCT
fbem-25602	85	36	the	the	DET
fbem-25602	85	37	risk	risk	NOUN
fbem-25602	85	38	of	of	ADP
fbem-25602	85	39	portfolio	portfolio	NOUN
fbem-25602	85	40	of	of	ADP
fbem-25602	85	41	all	all	DET
fbem-25602	85	42	stocks	stock	NOUN
fbem-25602	85	43	are	be	AUX
fbem-25602	85	44	higher	high	ADJ
fbem-25602	85	45	than	than	ADP
fbem-25602	85	46	the	the	DET
fbem-25602	85	47	benchmark	benchmark	NOUN
fbem-25602	85	48	.	.	PUNCT
fbem-25602	86	1	this	this	PRON
fbem-25602	86	2	requires	require	VERB
fbem-25602	86	3	investors	investor	NOUN
fbem-25602	86	4	to	to	PART
fbem-25602	86	5	pay	pay	VERB
fbem-25602	86	6	attention	attention	NOUN
fbem-25602	86	7	to	to	ADP
fbem-25602	86	8	in	in	ADP
fbem-25602	86	9	the	the	DET
fbem-25602	86	10	corresponding	corresponding	ADJ
fbem-25602	86	11	risk	risk	NOUN
fbem-25602	86	12	control	control	NOUN
fbem-25602	86	13	.	.	PUNCT
fbem-25602	87	1	237	237	NUM
fbem-25602	87	2	table	table	NOUN
fbem-25602	87	3	5	5	NUM
fbem-25602	87	4	.	.	PUNCT
fbem-25602	88	1	the	the	DET
fbem-25602	88	2	expected	expect	VERB
fbem-25602	88	3	risk	risk	NOUN
fbem-25602	88	4	-	-	PUNCT
fbem-25602	88	5	adjusted	adjust	VERB
fbem-25602	88	6	performance	performance	NOUN
fbem-25602	88	7	3	3	NUM
fbem-25602	88	8	.	.	PUNCT
fbem-25602	88	9	conclusion	conclusion	NOUN
fbem-25602	88	10	through	through	ADP
fbem-25602	88	11	this	this	DET
fbem-25602	88	12	portfolio	portfolio	NOUN
fbem-25602	88	13	management	management	NOUN
fbem-25602	88	14	project	project	NOUN
fbem-25602	88	15	,	,	PUNCT
fbem-25602	88	16	we	we	PRON
fbem-25602	88	17	successfully	successfully	ADV
fbem-25602	88	18	constructed	construct	VERB
fbem-25602	88	19	and	and	CCONJ
fbem-25602	88	20	evaluated	evaluate	VERB
fbem-25602	88	21	a	a	DET
fbem-25602	88	22	portfolio	portfolio	NOUN
fbem-25602	88	23	based	base	VERB
fbem-25602	88	24	on	on	ADP
fbem-25602	88	25	us	we	PRON
fbem-25602	88	26	common	common	ADJ
fbem-25602	88	27	stock	stock	NOUN
fbem-25602	88	28	for	for	ADP
fbem-25602	88	29	our	our	PRON
fbem-25602	88	30	client	client	NOUN
fbem-25602	88	31	.	.	PUNCT
fbem-25602	89	1	and	and	CCONJ
fbem-25602	89	2	we	we	PRON
fbem-25602	89	3	ensure	ensure	VERB
fbem-25602	89	4	the	the	DET
fbem-25602	89	5	best	good	ADJ
fbem-25602	89	6	balance	balance	NOUN
fbem-25602	89	7	of	of	ADP
fbem-25602	89	8	the	the	DET
fbem-25602	89	9	portfolio	portfolio	NOUN
fbem-25602	89	10	between	between	ADP
fbem-25602	89	11	return	return	NOUN
fbem-25602	89	12	and	and	CCONJ
fbem-25602	89	13	risk	risk	VERB
fbem-25602	89	14	and	and	CCONJ
fbem-25602	89	15	maximize	maximize	VERB
fbem-25602	89	16	the	the	DET
fbem-25602	89	17	sharpe	sharpe	PROPN
fbem-25602	89	18	ratio	ratio	NOUN
fbem-25602	89	19	.	.	PUNCT
fbem-25602	90	1	our	our	PRON
fbem-25602	90	2	analysis	analysis	NOUN
fbem-25602	90	3	shows	show	VERB
fbem-25602	90	4	that	that	SCONJ
fbem-25602	90	5	,	,	PUNCT
fbem-25602	90	6	although	although	SCONJ
fbem-25602	90	7	there	there	PRON
fbem-25602	90	8	is	be	VERB
fbem-25602	90	9	a	a	DET
fbem-25602	90	10	slight	slight	ADJ
fbem-25602	90	11	difference	difference	NOUN
fbem-25602	90	12	between	between	ADP
fbem-25602	90	13	expectations	expectation	NOUN
fbem-25602	90	14	and	and	CCONJ
fbem-25602	90	15	reality	reality	NOUN
fbem-25602	90	16	,	,	PUNCT
fbem-25602	90	17	the	the	DET
fbem-25602	90	18	portfolio	portfolio	NOUN
fbem-25602	90	19	performs	perform	VERB
fbem-25602	90	20	well	well	ADV
fbem-25602	90	21	during	during	ADP
fbem-25602	90	22	the	the	DET
fbem-25602	90	23	evaluation	evaluation	NOUN
fbem-25602	90	24	period	period	NOUN
fbem-25602	90	25	and	and	CCONJ
fbem-25602	90	26	meets	meet	VERB
fbem-25602	90	27	the	the	DET
fbem-25602	90	28	client	client	NOUN
fbem-25602	90	29	's	's	PART
fbem-25602	90	30	expected	expect	VERB
fbem-25602	90	31	investment	investment	NOUN
fbem-25602	90	32	objectives	objective	NOUN
fbem-25602	90	33	.	.	PUNCT
fbem-25602	91	1	references	reference	NOUN
fbem-25602	91	2	[	[	X
fbem-25602	91	3	1	1	NUM
fbem-25602	91	4	]	]	X
fbem-25602	91	5	koijen	koijen	PROPN
fbem-25602	91	6	,	,	PUNCT
fbem-25602	91	7	r.	r.	PROPN
fbem-25602	91	8	s.	s.	PROPN
fbem-25602	91	9	,	,	PUNCT
fbem-25602	91	10	&	&	CCONJ
fbem-25602	91	11	yogo	yogo	PROPN
fbem-25602	91	12	,	,	PUNCT
fbem-25602	91	13	m.	m.	NOUN
fbem-25602	91	14	(	(	PUNCT
fbem-25602	91	15	2022	2022	NUM
fbem-25602	91	16	)	)	PUNCT
fbem-25602	91	17	.	.	PUNCT
fbem-25602	92	1	the	the	DET
fbem-25602	92	2	fragility	fragility	NOUN
fbem-25602	92	3	of	of	ADP
fbem-25602	92	4	market	market	NOUN
fbem-25602	92	5	risk	risk	NOUN
fbem-25602	92	6	insurance	insurance	NOUN
fbem-25602	92	7	.	.	PUNCT
fbem-25602	93	1	the	the	DET
fbem-25602	93	2	journal	journal	PROPN
fbem-25602	93	3	of	of	ADP
fbem-25602	93	4	finance	finance	NOUN
fbem-25602	93	5	,	,	PUNCT
fbem-25602	93	6	77(2	77(2	NOUN
fbem-25602	93	7	)	)	PUNCT
fbem-25602	93	8	,	,	PUNCT
fbem-25602	93	9	815	815	NUM
fbem-25602	93	10	-	-	SYM
fbem-25602	93	11	862	862	NUM
fbem-25602	93	12	.	.	PUNCT
fbem-25602	94	1	[	[	X
fbem-25602	94	2	2	2	NUM
fbem-25602	94	3	]	]	X
fbem-25602	94	4	maher	maher	PROPN
fbem-25602	94	5	azzam	azzam	PROPN
fbem-25602	94	6	ghaleb	ghaleb	PROPN
fbem-25602	94	7	al	al	PROPN
fbem-25602	94	8	-	-	PUNCT
fbem-25602	94	9	qadi	qadi	PROPN
fbem-25602	94	10	,	,	PUNCT
fbem-25602	94	11	p.	p.	PROPN
fbem-25602	94	12	,	,	PUNCT
fbem-25602	94	13	abdul	abdul	PROPN
fbem-25602	94	14	-	-	PUNCT
fbem-25602	94	15	hamid	hamid	PROPN
fbem-25602	94	16	,	,	PUNCT
fbem-25602	94	17	m.	m.	NOUN
fbem-25602	94	18	a.	a.	PROPN
fbem-25602	94	19	,	,	PUNCT
fbem-25602	94	20	saidin	saidin	PROPN
fbem-25602	94	21	,	,	PUNCT
fbem-25602	94	22	s.	s.	PROPN
fbem-25602	94	23	f.	f.	PROPN
fbem-25602	94	24	,	,	PUNCT
fbem-25602	94	25	&	&	CCONJ
fbem-25602	94	26	abdelrehim	abdelrehim	PROPN
fbem-25602	94	27	,	,	PUNCT
fbem-25602	94	28	m.	m.	NOUN
fbem-25602	94	29	analyzing	analyze	VERB
fbem-25602	94	30	the	the	DET
fbem-25602	94	31	impact	impact	NOUN
fbem-25602	94	32	of	of	ADP
fbem-25602	94	33	real	real	ADJ
fbem-25602	94	34	and	and	CCONJ
fbem-25602	94	35	accrual	accrual	ADJ
fbem-25602	94	36	earnings	earning	NOUN
fbem-25602	94	37	management	management	NOUN
fbem-25602	94	38	on	on	ADP
fbem-25602	94	39	the	the	DET
fbem-25602	94	40	cost	cost	NOUN
fbem-25602	94	41	of	of	ADP
fbem-25602	94	42	equity	equity	NOUN
fbem-25602	94	43	:	:	PUNCT
fbem-25602	94	44	evidence	evidence	NOUN
fbem-25602	94	45	from	from	ADP
fbem-25602	94	46	the	the	DET
fbem-25602	94	47	jordanian	jordanian	ADJ
fbem-25602	94	48	amman	amman	PROPN
fbem-25602	94	49	stock	stock	PROPN
fbem-25602	94	50	exchange	exchange	PROPN
fbem-25602	94	51	.	.	PUNCT
fbem-25602	95	1	[	[	X
fbem-25602	95	2	3	3	NUM
fbem-25602	95	3	]	]	X
fbem-25602	95	4	molenaar	molenaar	NOUN
fbem-25602	95	5	,	,	PUNCT
fbem-25602	95	6	r.	r.	PROPN
fbem-25602	95	7	,	,	PUNCT
fbem-25602	95	8	sénéchal	sénéchal	NOUN
fbem-25602	95	9	,	,	PUNCT
fbem-25602	95	10	e.	e.	PROPN
fbem-25602	95	11	,	,	PUNCT
fbem-25602	95	12	swinkels	swinkels	PROPN
fbem-25602	95	13	,	,	PUNCT
fbem-25602	95	14	l.	l.	PROPN
fbem-25602	95	15	,	,	PUNCT
fbem-25602	95	16	&	&	CCONJ
fbem-25602	95	17	wang	wang	PROPN
fbem-25602	95	18	,	,	PUNCT
fbem-25602	95	19	z.	z.	PROPN
fbem-25602	95	20	(	(	PUNCT
fbem-25602	95	21	2024	2024	NUM
fbem-25602	95	22	)	)	PUNCT
fbem-25602	95	23	.	.	PUNCT
fbem-25602	96	1	empirical	empirical	ADJ
fbem-25602	96	2	evidence	evidence	NOUN
fbem-25602	96	3	on	on	ADP
fbem-25602	96	4	the	the	DET
fbem-25602	96	5	stock	stock	NOUN
fbem-25602	96	6	–	–	PUNCT
fbem-25602	96	7	bond	bond	NOUN
fbem-25602	96	8	correlation	correlation	NOUN
fbem-25602	96	9	.	.	PUNCT
fbem-25602	97	1	financial	financial	ADJ
fbem-25602	97	2	analysts	analyst	NOUN
fbem-25602	97	3	journal	journal	NOUN
fbem-25602	97	4	,	,	PUNCT
fbem-25602	97	5	1	1	NUM
fbem-25602	97	6	-	-	SYM
fbem-25602	97	7	20	20	NUM
fbem-25602	97	8	.	.	PUNCT
fbem-25602	98	1	[	[	X
fbem-25602	98	2	4	4	NUM
fbem-25602	98	3	]	]	X
fbem-25602	98	4	yu	yu	PROPN
fbem-25602	98	5	,	,	PUNCT
fbem-25602	98	6	z.	z.	PROPN
fbem-25602	98	7	,	,	PUNCT
fbem-25602	98	8	razzaq	razzaq	PROPN
fbem-25602	98	9	,	,	PUNCT
fbem-25602	98	10	a.	a.	NOUN
fbem-25602	98	11	,	,	PUNCT
fbem-25602	98	12	rehman	rehman	PROPN
fbem-25602	98	13	,	,	PUNCT
fbem-25602	98	14	a.	a.	NOUN
fbem-25602	98	15	,	,	PUNCT
fbem-25602	98	16	shah	shah	NOUN
fbem-25602	98	17	,	,	PUNCT
fbem-25602	98	18	a.	a.	PROPN
fbem-25602	98	19	,	,	PUNCT
fbem-25602	98	20	jameel	jameel	PROPN
fbem-25602	98	21	,	,	PUNCT
fbem-25602	98	22	k.	k.	PROPN
fbem-25602	98	23	,	,	PUNCT
fbem-25602	98	24	&	&	CCONJ
fbem-25602	98	25	mor	mor	PROPN
fbem-25602	98	26	,	,	PUNCT
fbem-25602	98	27	r.	r.	PROPN
fbem-25602	98	28	s.	s.	PROPN
fbem-25602	98	29	(	(	PUNCT
fbem-25602	98	30	2021	2021	NUM
fbem-25602	98	31	)	)	PUNCT
fbem-25602	98	32	.	.	PUNCT
fbem-25602	99	1	disruption	disruption	NOUN
fbem-25602	99	2	in	in	ADP
fbem-25602	99	3	global	global	ADJ
fbem-25602	99	4	supply	supply	NOUN
fbem-25602	99	5	chain	chain	NOUN
fbem-25602	99	6	and	and	CCONJ
fbem-25602	99	7	socioeconomic	socioeconomic	ADJ
fbem-25602	99	8	shocks	shock	NOUN
fbem-25602	99	9	:	:	PUNCT
fbem-25602	99	10	a	a	DET
fbem-25602	99	11	lesson	lesson	NOUN
fbem-25602	99	12	from	from	ADP
fbem-25602	99	13	covid-19	covid-19	PROPN
fbem-25602	99	14	for	for	ADP
fbem-25602	99	15	sustainable	sustainable	ADJ
fbem-25602	99	16	production	production	NOUN
fbem-25602	99	17	and	and	CCONJ
fbem-25602	99	18	consumption	consumption	NOUN
fbem-25602	99	19	.	.	PUNCT
fbem-25602	100	1	operations	operation	NOUN
fbem-25602	100	2	management	management	NOUN
fbem-25602	100	3	research	research	NOUN
fbem-25602	100	4	,	,	PUNCT
fbem-25602	100	5	1	1	NUM
fbem-25602	100	6	-	-	SYM
fbem-25602	100	7	16	16	NUM
fbem-25602	100	8	.	.	PUNCT