Thanks Jason - sincere apologies if I misunderstood the nature of your modelling. I'm afraid I did not understand what your 'random inventions' are. If the truth be told, I still don't. You note in one of your posts above that 'I simply used Excel’s built in rsq function on values, not log returns' - so I assume the Rsq analysis is cast at the same values as you are presenting in the figures? Perhaps not. Either the 'inventions' are random numbers (perhaps you can tell us what type, uniform, normal etc) or something else. Anyway, thanks for the interesting article and for stimulating some much needed debate. Nicely done, and keep up the fine work. Yours, Adam