Hello everyone, can anyone help me with how take difference between HIGH MINUS LOW (HML). and SMALL MINUS BIG (SMB)?
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* Example generated by -dataex-. For more info, type help dataex clear input float firm_id int year float(mktcap bm ri med_mkp medbm) byte _merge float(mktcap_1 bm_1 mktcap_label bm_label totalmed_mkp totalmed_bm) 17 2017 34057.297 .3586081 .08248208 6679.831 .8932011 3 2 1 2 1 19862.977 .39383015 1 2015 10776.357 .3313687 -.7163981 6902.337 .8642089 3 2 1 2 1 19862.977 .39383015 30 2020 6821 .7337346 .8154266 12422.17 .7337346 3 1 1 1 1 1980.575 .39383015 27 2015 4945.278 .4850453 -.8327823 6902.337 .8642089 3 1 1 1 1 1980.575 .39383015 3 2017 10005.06 .6361168 -.04395917 6679.831 .8932011 3 2 1 2 1 19862.977 .39383015 35 2020 19418.598 .24543047 -.15112846 12422.17 .7337346 3 2 1 2 1 19862.977 .39383015 1 2018 9792.217 .5300077 -.08507084 5105.829 1.0857394 3 2 1 2 1 19862.977 .39383015 14 2017 1239.9738 -5.8651 1.0360025 6679.831 .8932011 3 1 1 1 1 1980.575 .39383015 36 2020 151160.36 .07845903 .0014128464 12422.17 .7337346 3 2 1 2 1 19862.977 .39383015 26 2020 25938.52 .682115 .15696193 12422.17 .7337346 3 2 1 2 1 19862.977 .39383015 45 2018 39802.82 1.0529884 -.2192366 5105.829 1.0857394 3 2 1 2 1 19862.977 .39383015 15 2016 54903.2 .4897809 .3789895 5963.689 .7696581 3 2 1 2 1 19862.977 .39383015 18 2019 146410.42 .1782406 -.31401175 8555.959 .8886818 3 2 1 2 1 19862.977 .39383015 17 2019 35970.21 .3512143 -.28865728 8555.959 .8886818 3 2 1 2 1 19862.977 .39383015 3 2016 10377.784 .5225666 .10158105 5963.689 .7696581 3 2 1 2 1 19862.977 .39383015 38 2020 1197638.6 .270248 .3939218 12422.17 .7337346 3 2 1 2 1 19862.977 .39383015 18 2016 71270.4 .1835714 .437387 5963.689 .7696581 3 2 1 2 1 19862.977 .39383015 43 2018 2913.6714 -.19518417 -.300959 5105.829 1.0857394 3 1 1 1 1 1980.575 .39383015 1 2016 11690.88 .27709222 .13026367 5963.689 .7696581 3 2 1 2 1 19862.977 .39383015 14 2018 448.1923 -18.463299 -1.8129448 5105.829 1.0857394 3 1 1 1 1 1980.575 .39383015 35 2017 14474.15 .28967494 .25078988 6679.831 .8932011 3 2 1 2 1 19862.977 .39383015 28 2017 56331.65 -.00932176 -.6558023 6679.831 .8932011 3 2 1 2 1 19862.977 .39383015 29 2019 9110.807 .41247165 1.6242177 8555.959 .8886818 3 2 1 2 1 19862.977 .39383015 22 2016 1445.5266 .7696581 .437685 5963.689 .7696581 3 1 1 1 1 1980.575 .39383015 46 2020 1531.8434 .01382758 .28234112 12422.17 .7337346 3 1 1 1 1 1980.575 .39383015 4 2016 6743.978 .4929925 -.25273368 5963.689 .7696581 3 2 1 2 1 19862.977 .39383015 9 2015 9073.128 .7564273 -.4798684 6902.337 .8642089 3 2 1 2 1 19862.977 .39383015 6 2019 5035.641 .7798445 .29711804 8555.959 .8886818 3 1 1 1 1 1980.575 .39383015 1 2017 10565.188 .3703861 -.13972044 6679.831 .8932011 3 2 1 2 1 19862.977 .39383015 23 2015 3780.617 .8563728 -.7675201 6902.337 .8642089 3 1 1 1 1 1980.575 .39383015 3 2019 10263.998 .7717941 .3199856 8555.959 .8886818 3 2 1 2 1 19862.977 .39383015 31 2015 20114.594 .2981291 -.4242937 6902.337 .8642089 3 2 1 2 1 19862.977 .39383015 47 2020 12422.17 .5817907 .03824047 12422.17 .7337346 3 1 1 1 1 1980.575 .39383015 40 2016 26813.96 .15892817 -.04721143 5963.689 .7696581 3 2 1 2 1 19862.977 .39383015 15 2017 64615.63 .006640726 .08126707 6679.831 .8932011 3 2 1 2 1 19862.977 .39383015 26 2018 16100.878 .8771482 -.1905521 5105.829 1.0857394 3 2 1 2 1 19862.977 .39383015 35 2018 13377.903 .3479429 -.28061134 5105.829 1.0857394 3 2 1 2 1 19862.977 .39383015 21 2016 4535.281 .7632169 -.18710373 5963.689 .7696581 3 1 1 1 1 1980.575 .39383015 38 2015 277717.78 .39383015 -.6556448 6902.337 .8642089 3 2 1 2 1 19862.977 .39383015 47 2015 22863.27 .5954179 -.06308547 6902.337 .8642089 3 2 1 2 1 19862.977 .39383015 3 2015 9390.64 .4719235 -.251831 6902.337 .8642089 3 2 1 2 1 19862.977 .39383015 1 2020 37569.805 .2328313 .4980781 12422.17 .7337346 3 2 1 2 1 19862.977 .39383015 22 2020 3003.183 .6001235 .48852265 12422.17 .7337346 3 1 1 1 1 1980.575 .39383015 38 2016 479003.6 .26340798 .5220374 5963.689 .7696581 3 2 1 2 1 19862.977 .39383015 43 2016 3609.822 .6045326 -.8295107 5963.689 .7696581 3 1 1 1 1 1980.575 .39383015 6 2017 5070.73 .5412027 -.1025088 6679.831 .8932011 3 1 1 1 1 1980.575 .39383015 31 2018 15106.753 .4516869 -.27157608 5105.829 1.0857394 3 2 1 2 1 19862.977 .39383015 4 2019 10908.73 .4968648 .1619157 8555.959 .8886818 3 2 1 2 1 19862.977 .39383015 12 2018 184.8387 -9.626894 .937006 5105.829 1.0857394 3 1 1 1 1 1980.575 .39383015 14 2019 927.469 -10.42056 1.4078743 8555.959 .8886818 3 1 1 1 1 1980.575 .39383015 40 2019 17506.314 .23469435 .19911213 8555.959 .8886818 3 2 1 2 1 19862.977 .39383015 46 2016 600.77856 .012996683 .27560943 5963.689 .7696581 3 1 1 1 1 1980.575 .39383015 17 2018 43668.39 .3123135 .3526786 5105.829 1.0857394 3 2 1 2 1 19862.977 .39383015 36 2018 147392.72 .05164902 .3213545 5105.829 1.0857394 3 2 1 2 1 19862.977 .39383015 27 2018 3953.038 1.0806549 -.4462547 5105.829 1.0857394 3 1 1 1 1 1980.575 .39383015 25 2016 23109.34 .5834836 .6612981 5963.689 .7696581 3 2 1 2 1 19862.977 .39383015 48 2015 11145.095 .56460243 .09482424 6902.337 .8642089 3 2 1 2 1 19862.977 .39383015 17 2016 24431.764 .4363986 .51591974 5963.689 .7696581 3 2 1 2 1 19862.977 .39383015 36 2019 151159.34 .07648154 .025688356 8555.959 .8886818 3 2 1 2 1 19862.977 .39383015 46 2019 900.1978 -.672109 .4505859 8555.959 .8886818 3 1 1 1 1 1980.575 .39383015 27 2016 5856.704 .4543868 -.014211806 5963.689 .7696581 3 1 1 1 1 1980.575 .39383015 40 2020 134140.89 .04034979 1.9562502 12422.17 .7337346 3 2 1 2 1 19862.977 .39383015 56 2019 124.16132 -2.873678 .3708196 8555.959 .8886818 3 1 1 1 1 1980.575 .39383015 55 2018 73135.17 .05704675 .2314987 5105.829 1.0857394 3 2 1 2 1 19862.977 .39383015 2 2020 14643.29 .5428314 .4070906 12422.17 .7337346 3 2 1 2 1 19862.977 .39383015 55 2020 199356.7 .02633268 .3896241 12422.17 .7337346 3 2 1 2 1 19862.977 .39383015 3 2018 7582.197 .8911065 -.27151892 5105.829 1.0857394 3 2 1 2 1 19862.977 .39383015 18 2015 33100.855 .3712427 -.54423034 6902.337 .8642089 3 2 1 2 1 19862.977 .39383015 14 2016 559.1457 -10.682604 -.6846189 5963.689 .7696581 3 1 1 1 1 1980.575 .39383015 4 2020 19863.36 .3303038 .4350293 12422.17 .7337346 3 2 1 2 1 19862.977 .39383015 18 2020 146271.55 .1718801 .007896236 12422.17 .7337346 3 2 1 2 1 19862.977 .39383015 41 2015 28352.7 .5739554 -.15522712 6902.337 .8642089 3 2 1 2 1 19862.977 .39383015 42 2017 68895.336 .4224634 .23826768 6679.831 .8932011 3 2 1 2 1 19862.977 .39383015 12 2017 215.2527 -3.498417 -.4365072 6679.831 .8932011 3 1 1 1 1 1980.575 .39383015 10 2015 2260.4 0 -.8416629 6902.337 .8642089 3 1 1 1 1 1980.575 .39383015 46 2018 404.5491 -2.980392 .5539209 5105.829 1.0857394 3 1 1 1 1 1980.575 .39383015 54 2018 100.5064 .7954779 .16983087 5105.829 1.0857394 3 1 1 1 1 1980.575 .39383015 47 2017 19045.627 .4149133 .09171794 6679.831 .8932011 3 2 1 2 1 19862.977 .39383015 28 2020 76464.98 .3777833 -.406007 12422.17 .7337346 3 2 1 2 1 19862.977 .39383015 35 2019 20549.38 .25131014 .4098349 8555.959 .8886818 3 2 1 2 1 19862.977 .39383015 17 2015 14527.094 .7219349 -.8911019 6902.337 .8642089 3 2 1 2 1 19862.977 .39383015 42 2020 119455.5 .27581394 .14284725 12422.17 .7337346 3 2 1 2 1 19862.977 .39383015 47 2018 19044.611 .43371975 -.0022284028 5105.829 1.0857394 3 2 1 2 1 19862.977 .39383015 21 2018 4490.843 1.0857394 -.3273045 5105.829 1.0857394 3 1 1 1 1 1980.575 .39383015 24 2015 12390.926 .8642089 -.26945534 6902.337 .8642089 3 2 1 2 1 19862.977 .39383015 38 2017 728239.6 .2161285 .4651563 6679.831 .8932011 3 2 1 2 1 19862.977 .39383015 18 2018 129749.6 .1778146 .22776553 5105.829 1.0857394 3 2 1 2 1 19862.977 .39383015 26 2017 19862.977 .6338212 .20795733 6679.831 .8932011 3 2 1 2 1 19862.977 .39383015 40 2015 29104.35 .12400714 -.3585099 6902.337 .8642089 3 2 1 2 1 19862.977 .39383015 56 2017 73.57811 -4.1044164 .03753876 6679.831 .8932011 3 1 1 1 1 1980.575 .39383015 47 2016 17212.496 .4806029 -.4807045 5963.689 .7696581 3 2 1 2 1 19862.977 .39383015 25 2017 19726.23 .737655 -.1730948 6679.831 .8932011 3 2 1 2 1 19862.977 .39383015 38 2019 821826.8 .3265489 .1762708 8555.959 .8886818 3 2 1 2 1 19862.977 .39383015 25 2019 16032.874 .5874562 .4263817 8555.959 .8886818 3 2 1 2 1 19862.977 .39383015 9 2019 18681.086 .7513818 1.3588705 8555.959 .8886818 3 2 1 2 1 19862.977 .39383015 1 2019 22179.627 .3024842 .8266602 8555.959 .8886818 3 2 1 2 1 19862.977 .39383015 6 2018 3733.7075 .8785615 -.29719487 5105.829 1.0857394 3 1 1 1 1 1980.575 .39383015 45 2017 50442.13 .58167607 -.03135248 6679.831 .8932011 3 2 1 2 1 19862.977 .39383015 4 2015 8759.479 .3890468 -.14976437 6902.337 .8642089 3 2 1 2 1 19862.977 .39383015 7 2015 398.4368 .7947697 -.29580405 6902.337 .8642089 3 1 1 1 1 1980.575 .39383015 end label values _merge _merge label def _merge 3 "matched (3)", modify label values mktcap_label MKTCAP_L label def MKTCAP_L 1 "SMALL", modify label def MKTCAP_L 2 "BIG", modify label values bm_label BM_LABEL1 label def BM_LABEL1 1 "LOW", modify
