Optimal Hedging and Pricing of Equity-Linked Life Insurance Contracts in a Discrete-Time Incomplete Market

Table 4

Return statistics for original and recalibrated strategies (200 simulated S&P 500 Index paths for 2005–2010).

Original strategy		Recalibrated strategy
Min	−99.66	Min	−107.07
1st Quarter	22.27	1st Quarter	95.79
Median	60.93	Median	120.23
Mean	59.22	Mean	115.71
3rd Quarter	97.843	3rd Quarter	151.23
Max	186.65	Max	254.15