Bulletin – September Quarter 2016 Equation (3)

β D = cov( r i , r m |[ r m < r ¯ m ; r i < r ¯ i ] ) var( r m | r m < r ¯ m ) MathType@MTEF@5@5@+=feaagCart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLnhiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=xfr=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@5DF8@