pp.betareturn <- function (loc, do.lowess=TRUE, boot=0, tofile=FALSE) { lab <- colnames(spbetamat)[loc] if(tofile) { filename <- paste("betaret_", lab, ".png", sep="") filename <- gsub(" ", "_", filename) png(file=filename, width=512) par(mar=c(5,4, 0, 2) + .1) } spret <- spannret[, loc] spbeta <- spbetamat[, loc] plot(spret ~ spbeta, ylab=paste("1 year return after", lab), xlab=paste("Estimate of beta from 1 year before", lab)) if(boot > 0) { nams <- names(spret) n <- length(nams) for(i in 1:boot) { tsamp <- sample(nams, n, replace=TRUE) lines(lowess(spret[tsamp] ~ spbeta[tsamp]), col="gold") } } if(do.lowess) { lines(lowess(spret ~ spbeta), lwd=2, col="steelblue") } if(tofile) { dev.off() } }