Table 2. Results of balanced hypothesis testing for five stock data pairs in the chemical-pharmaceutical subsector.

Stocks	Variable	Unmatched	Mean			%reduct	T-test		V(T)/
		Matched	Treated	Control	%Bias	Bias	T	P >—T—	V(C)
Hengrui-Huana		U	34.208	36.971	−67.2		−7.37	0.000	0.53∗
	open	M	34.234	34.094	3.4	94.9	0.45	0.652	1.06
		U	34.859	37.616	−65.9		−7.22	0.000	0.60∗
	high	M	34.888	34.804	2.0	97.0	0.26	0.796	1.10
		U	33.593	36.419	−71.2		−7.80	0.000	0.49∗
	low	M	33.63	33.549	2.0	97.1	0.28	0.781	1.04
Fuxing-Hengrui		U	36.971	41.619	−85.2		−9.33	0.000	0.59∗
	open	M	37.282	37.093	3.5	95.9	0.43	0.666	0.86
		U	37.616	42.51	−87.7		−9.60	0.000	0.54∗
	high	M	37.936	37.787	2.7	96.9	0.35	0.729	0.86
		U	36.419	40.781	−82.4		−9.03	0.000	0.61∗
	low	M	36.717	36.528	3.6	95.6	0.44	0.661	0.82
Fuxing-Huana		U	34.208	41.619	−149.4		−16.36	0.000	0.31∗
	open	M	34.208	34.269	−1.2	99.2	−0.19	0.846	0.99
		U	34.859	42.51	−147.8		−16.19	0.000	0.32∗
	high	M	34.859	35.043	−3.6	97.6	−0.56	0.576	1.03
		U	33.593	40.781	−151.1		−16.55	0.000	0.30∗
	low	M	33.593	33.584	0.2	99.9	0.03	0.974	0.99
Renfu-Chengdu		U	16.741	18.688	−78.2		−8.56	0.000	0.88
	open	M	17.164	17.283	−4.8	93.9	−0.58	0.561	1.25
		U	17.049	19.169	−83.5		−9.14	0.000	0.83
	high	M	17.486	17.578	−3.6	95.7	−0.45	0.656	1.22
		U	16.401	18.303	−77.9		−8.53	0.000	0.90
	low	M	16.812	16.917	−4.3	94.5	−0.52	0.602	1.31
Huahai-Renfu		U	18.688	20.563	−81.0		−8.88	0.000	1.59∗
	open	M	18.789	18.799	−0.4	99.5	−0.04	0.965	0.98
		U	19.169	21.103	−80.0		−8.76	0.000	1.51∗
	high	M	19.265	19.439	−7.2	91.0	−0.73	0.464	1.04
		U	18.303	20.109	−80.7		−8.44	0.000	1.68∗
	low	M	18.402	18.385	0.7	99.1	0.07	0.942	1.04

Note.

An asterisk (*) signifies a remaining variance difference between the groups.