I have a problem with the rolling sd. I have monthly return data and need to construct a measure of firm risk taking which is the 60 month sd of returns. The data in the regression analysis I have to perform afterwards is on yearly basis. I already performed the asrol command and annualized my sd`s but I do not know how i can get one observation per year.
Can somebody help my with that?
Code:
asrol log_return, stat (sd) w(date_new 60) by(company_code) min (12) gen return_volatility = sd60_log_return * sqrt(12)
Code:
* Example generated by -dataex-. To install: ssc install dataex clear input int company_code byte day str2 month str4 year double total_return_ str6 date long date_new float log_return double sd60_log_return float return_volatility 1 1 "12" "1997" 1137.47 "199712" 1 . . . 1 1 "01" "1998" 946.45 "199801" 2 -.18384363 . . 1 1 "02" "1998" 1001.95 "199802" 3 .05698524 . . 1 1 "03" "1998" 1032.89 "199803" 4 .0304126 . . 1 1 "04" "1998" 1069.15 "199804" 5 .03450324 . . 1 1 "05" "1998" 1100.34 "199805" 6 .028755283 . . 1 1 "06" "1998" 1098.62 "199806" 7 -.001564376 . . 1 1 "07" "1998" 978.98 "199807" 8 -.11529891 . . 1 1 "08" "1998" 872.48 "199808" 9 -.11517148 . . 1 1 "09" "1998" 800.06 "199809" 10 -.086653 . . 1 1 "10" "1998" 852.96 "199810" 11 .06402593 . . 1 1 "11" "1998" 944.06 "199811" 12 .10147707 . . 1 1 "12" "1998" 962.96 "199812" 13 .01982215 .08869550821844187 .3072503 1 1 "01" "1999" 841.67 "199901" 14 -.13462386 .09128418246518706 .3162177 1 1 "02" "1999" 911.19 "199902" 15 .07936342 .09188423283636118 .3182963 1 1 "03" "1999" 876.92 "199903" 16 -.03833567 .08873211142052852 .307377 1 1 "04" "1999" 867.24 "199904" 17 -.011100013 .08573757095599321 .29700366 1 1 "05" "1999" 1119.06 "199905" 18 .25492856 .10601747323259525 .3672553 1 1 "06" "1999" 1057.85 "199906" 19 -.0562505 .10367440370740647 .3591387 1 1 "07" "1999" 1045.85 "199907" 20 -.011408594 .10076762327719967 .3490693 1 1 "08" "1999" 1069.84 "199908" 21 .02267915 .09826700648611467 .3404069 1 1 "09" "1999" 1142.48 "199909" 22 .06569223 .09694691969353976 .335834 1 1 "10" "1999" 1138.7 "199910" 23 -.0033140774 .09461348804421177 .3277507 1 1 "11" "1999" 1134.18 "199911" 24 -.003977338 .09244198722213195 .3202284 1 1 "12" "1999" 1145.75 "199912" 25 .010149522 .09043437393307141 .31327385 1 1 "01" "2000" 1144.99 "200001" 26 -.000663541 .08853048982777312 .3066786 1 1 "02" "2000" 1141.95 "200002" 27 -.002658576 .08674370378276831 .300489 1 1 "03" "2000" 1051.46 "200003" 28 -.08255766 .08653570736248122 .2997685 1 1 "04" "2000" 1121.66 "200004" 29 .064630054 .08587203260564354 .29746944 1 1 "05" "2000" 1061.38 "200005" 30 -.05523978 .08493512056896448 .29422387 1 1 "06" "2000" 1043.03 "200006" 31 -.01744001 .08350311126978825 .28926325 1 1 "07" "2000" 1033.04 "200007" 32 -.009624028 .08210850801554212 .2844322 1 1 "08" "2000" 1098.33 "200008" 33 .06128493 .08157144013059694 .28257176 1 1 "09" "2000" 1143.61 "200009" 34 .04039908 .08061102947510487 .2792448 1 1 "10" "2000" 1133.56 "200010" 35 -.0088268025 .07939522546184485 .27503312 1 1 "11" "2000" 1176.06 "200011" 36 .036806747 .0784673297313333 .27181882 1 1 "12" "2000" 1239.16 "200012" 37 .05226386 .07780961927432588 .26954043 1 1 "01" "2001" 1498.81 "200101" 38 .19023773 .0827041337667306 .28649554 1 1 "02" "2001" 1387.49 "200102" 39 -.0771751 .08272601507698676 .28657132 1 1 "03" "2001" 1370.58 "200103" 40 -.012262352 .08167829283772227 .2829419 1 1 "04" "2001" 1276.17 "200104" 41 -.0713706 .0815184458628599 .28238818 1 1 "05" "2001" 1469.5 "200105" 42 .1410588 .08333571825349674 .28868338 1 1 "06" "2001" 1500.4 "200106" 43 .020809533 .08234382164046435 .28524736 1 1 "07" "2001" 1473.38 "200107" 44 -.018172659 .08144524888990136 .28213462 1 1 "08" "2001" 1394.73 "200108" 45 -.05485823 .08101412897025269 .28064117 1 1 "09" "2001" 1315.17 "200109" 46 -.05873491 .08064340831360914 .27935696 1 1 "10" "2001" 1223.71 "200110" 47 -.072078705 .08051159959443695 .27890036 1 1 "11" "2001" 1342.59 "200111" 48 .09271336 .08073336704423682 .2796686 1 1 "12" "2001" 1446.04 "200112" 49 .074228205 .08051916241110565 .27892655 1 1 "01" "2002" 1501.15 "200201" 50 .0374027 .07981035428860593 .27647117 1 1 "02" "2002" 1438.42 "200202" 51 -.04268619 .07928713237718649 .27465868 1 1 "03" "2002" 1536.04 "200203" 52 .065662384 .07895317404727743 .2735018 1 1 "04" "2002" 1471.44 "200204" 53 -.04296616 .07846833106988223 .27182227 1 1 "05" "2002" 1608.55 "200205" 54 .08909164 .07856493522073886 .27215692 1 1 "06" "2002" 1596.48 "200206" 55 -.007531947 .0778437785349909 .26965874 1 1 "07" "2002" 1634.33 "200207" 56 .02343173 .07715431454071486 .2672704 1 1 "08" "2002" 1566.72 "200208" 57 -.04224867 .07672775335431867 .26579273 1 1 "09" "2002" 1610.61 "200209" 58 .02762873 .0760949627792399 .26360068 1 1 "10" "2002" 1498.86 "200210" 59 -.07190817 .0761168850069434 .2636766 1 1 "11" "2002" 1650.57 "200211" 60 .09641586 .07639557281775182 .26464203 1 1 "12" "2002" 1662.41 "200212" 61 .007147674 .07574546302962015 .26239 1 1 "01" "2003" 1597 "200301" 62 -.04014149 .07179964752869218 .24872127 1 1 "02" "2003" 1618.89 "200302" 63 .01361386 .07152327903440758 .2477639 1 1 "03" "2003" 1624.39 "200303" 64 .0033916314 .07146478853781878 .2475613 1 1 "04" "2003" 1703.55 "200304" 65 .04758195 .07156827633247617 .2479198 1 1 "05" "2003" 1626.21 "200305" 66 -.04646216 .07185256161721333 .24890457 1 1 "06" "2003" 1636.22 "200306" 67 .006136549 .07184477064916724 .2488776 1 1 "07" "2003" 1687.01 "200307" 68 .03056903 .07009530928942445 .24281727 1 1 "08" "2003" 1819.61 "200308" 69 .07566446 .06867754208335168 .237906 1 1 "09" "2003" 1873.46 "200309" 70 .029164797 .06746754137129368 .2337144 1 1 "10" "2003" 1864.65 "200310" 71 -.00471362 .0671898406331197 .23275244 1 1 "11" "2003" 2072.15 "200311" 72 .10551335 .06728184807316209 .23307116 1 1 "12" "2003" 2155.8 "200312" 73 .03957517 .0673635622486373 .23335423 1 1 "01" "2004" 2245.87 "200401" 74 .04093109 .06457884584290957 .2237077 1 1 "02" "2004" 2060.19 "200402" 75 -.08629476 .06537578890430205 .22646837 1 1 "03" "2004" 2090.19 "200403" 76 .01445676 .06501928666262184 .2252334 1 1 "04" "2004" 2150.42 "200404" 77 .0284082 .06495589952241158 .22501384 1 1 "05" "2004" 2309.08 "200405" 78 .071186006 .057344477374797316 .1986471 1 1 "06" "2004" 2260.55 "200406" 79 -.02124103 .05681314529826532 .1968065 1 1 "07" "2004" 2349.56 "200407" 80 .03861993 .05682109390814752 .19683404 1 1 "08" "2004" 2226.44 "200408" 81 -.05382418 .057466095154591106 .1990684 1 1 "09" "2004" 2217.99 "200409" 82 -.003802517 .0570689467033151 .19769263 1 1 "10" "2004" 2133.14 "200410" 83 -.03900631 .05740630788430458 .1988613 1 1 "11" "2004" 2058.72 "200411" 84 -.03551064 .05768440890610884 .19982466 1 1 "12" "2004" 2162.91 "200412" 85 .04937011 .05790865358275833 .20060146 1 1 "01" "2005" 2215.34 "200501" 86 .023951354 .05791476888033259 .20062265 1 1 "02" "2005" 2260.5 "200502" 87 .02018014 .0578985266625583 .2005664 1 1 "03" "2005" 2282.35 "200503" 88 .009619586 .05657141571404323 .19596913 1 1 "04" "2005" 2299.92 "200504" 89 .007668726 .05616537606691546 .19456257 1 1 "05" "2005" 2077.28 "200505" 90 -.101815 .05741787416021667 .19890136 1 1 "06" "2005" 2091.71 "200506" 91 .006922568 .05729798599790912 .19848605 1 1 "07" "2005" 1983.05 "200507" 92 -.05334585 .05784783090677056 .20039077 1 1 "08" "2005" 2045.53 "200508" 93 .03102086 .05753185954835426 .1992962 1 1 "09" "2005" 1936.18 "200509" 94 -.05493997 .058002932350783964 .20092805 1 1 "10" "2005" 1981.81 "200510" 95 .02329361 .057985943908184547 .2008692 1 1 "11" "2005" 2045.47 "200511" 96 .031617023 .057948092384745846 .2007381 1 1 "12" "2005" 2177.59 "200512" 97 .062591165 .05809325409169328 .20124094 1 1 "01" "2006" 2128.97 "200601" 98 -.022580465 .053151338883437656 .18412164 1 1 "02" "2006" 2010.57 "200602" 99 -.05722003 .05268339573739153 .18250063 1 1 "03" "2006" 2036.52 "200603" 100 .012824205 .05263405890474853 .18232973 end
0 Response to 60 month rolling sd of returns
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