Analysis of Investment Returns as Markov Chain Random Walk

Table 1

Descriptive statistics of investment returns by country.

Statistic	Country
	Canada	India	Mexico	South Africa	Switzerland
Mean	0.00536	0.01172	0.02267	0.00880	0.00489
Std. dev.	0.04051	0.06193	0.09035	0.04928	0.04045
Sample variance	0.00164	0.00384	0.00816	0.00243	0.00164
Minimum	−0.24999	−0.27517	−0.56547	−0.30228	−0.28215
Maximum	0.11187	0.34699	0.36234	0.14036	0.14205
Range	0.36186	0.62216	0.92781	0.44264	0.4242
LL (95% CI)	0.00194	0.00649	0.01505	0.00464	0.00148
UL (95% CI)	0.00877	0.01694	0.03029	0.01295	0.00830

LL (95% CI) represents the lower limit of the 95% confidence interval and UL represents the upper limit of the 95% confident interval. Source: Authors’ computation.