Drift and the Risk-Free Rate

Table 1

𝑃 values for testing 𝑟=𝜇. None are significant at 0.05.

Symbol	Dates	UMPU	LRT	Effect size
AAPL	1-5-2001 to 12-6-2001	0.416	0.413	5.2×10^−2
APD	1-5-2001 to 12-6-2001	0.520	0.517	3.8×10^−2
C	1-1-1983 to 1-1-2000	0.059	0.059	3.1×10^−2
CVS	8-30-2001 to 11-30-2001	0.420	0.397	9.9×10^−2
DAL	11-03-1994 to 02-02-1995	0.914	0.913	−8.3×10^−3
F	11-03-1994 to 02-02-1995	0.258	0.226	−1.5×10^−1
IBM	3-29-1984 to 07-31-1984	0.618	0.611	4.8×10^−2
K	11-12-1999 to 02-10-2000	0.996	0.995	1.5×10^−1
LMT	1-5-2001 to 12-6-2001	0.237	0.277	5.1×10^−2
PG	11-12-1999 to 02-10-2000	0.457	0.445	9.2×10^−2