Capitalytics

**Regression for Dow Total Stock Market Index**

	Dependent variable (+/- SE):

	Dow Total Stock Market Index

Constant	255,080.600 (+/- 17,160.940)
	p = 0.00001^***
SP500 Stock Price Index	-17.391 (+/- 1.900)
	p = 0.0001^***
US Fed Reserve O-N Loan Rate	21,971.870 (+/- 3,537.476)
	p = 0.001^***
Nominal GDP growth	-1,937.639 (+/- 131.613)
	p = 0.00001^***
Real disposable income growth	563.126 (+/- 59.307)
	p = 0.0001^***
Unemployment Rate	-21,337.610 (+/- 1,505.030)
	p = 0.00001^***
CPI Inflation Rate	4,244.237 (+/- 319.499)
	p = 0.00002^***
BBB corporate yield	-40,207.920 (+/- 2,740.113)
	p = 0.00001^***
30-year Mortgate Rate	7,845.531 (+/- 1,911.200)
	p = 0.007^***
Prime Rate	13,607.440 (+/- 989.378)
	p = 0.00001^***
Market Volatility Index	969.691 (+/- 80.255)
	p = 0.00002^***
LN_Market Volatility Index	-21,479.830 (+/- 1,872.718)
	p = 0.00003^***
US Avg Retail Gasoline Price ($-gal; all grades, all formulations)	5,923.929 (+/- 632.464)
	p = 0.0001^***
30-year Treasury Yield	37,245.940 (+/- 5,312.836)
	p = 0.0005^***
20-year Treasury Yield	167,154.000 (+/- 9,638.476)
	p = 0.00001^***
LN_20-year Treasury Yield	-506,483.400 (+/- 30,966.290)
	p = 0.00001^***
10-year Treasury Yield	69,318.470 (+/- 10,344.930)
	p = 0.001^***
LN_10-year Treasury Yield	-81,022.890 (+/- 17,933.600)
	p = 0.005^***
1-month Treasury Yield	-31,138.240 (+/- 2,550.188)
	p = 0.00002^***
LN_1-month Treasury Yield	-57,834.600 (+/- 4,919.122)
	p = 0.00003^***
7-year Treasury Yield	-352,594.800 (+/- 24,087.650)
	p = 0.00001^***
LN_7-year Treasury Yield	707,401.800 (+/- 44,952.720)
	p = 0.00001^***
5-year Treasury Yield	-77,878.860 (+/- 10,191.510)
	p = 0.0003^***
LN_5-year Treasury Yield	84,578.660 (+/- 12,099.360)
	p = 0.0005^***
6-month Treasury Yield	126,274.500 (+/- 7,873.855)
	p = 0.00001^***
LN_6-month Treasury Yield	90,461.760 (+/- 12,802.550)
	p = 0.0005^***
3-year Treasury Yield	159,182.900 (+/- 15,696.660)
	p = 0.0001^***
LN_3-year Treasury Yield	-211,917.500 (+/- 14,997.810)
	p = 0.00001^***
1-year Treasury Yield	-119,335.600 (+/- 10,413.930)
	p = 0.00003^***
LN_1-year Treasury Yield	-68,146.150 (+/- 14,195.670)
	p = 0.003^***
1-year Treasury Yield_2	7,880.699 (+/- 982.554)
	p = 0.0003^***
3-year Treasury Yield_2	3,875.349 (+/- 547.406)
	p = 0.0004^***
6-month Treasury Yield_2	-11,359.530 (+/- 1,017.799)
	p = 0.00004^***
5-year Treasury Yield_2	5,041.044 (+/- 505.161)
	p = 0.0001^***

Observations	40
R²	1.000
Adjusted R²	0.999
Residual Std. Error	330.709 (df = 6)
F Statistic	1,675.168^*** (df = 33; 6)

Note:	^p<0.1; ^p<0.05; ^**p<0.01