p5.

1 return
2013 50000 55000 10.0%
2014 55000 58000 5.5%
2015 58000 65000 12.1%
2016 65000 70000 7.7%
Average 8.8%
p5.2 SD 2.9%

Portfolio
p5.3 L M return
2018 14% 20% 17.6%
2019 14% 18% 16.4%
2020 16% 16% 16.0%
2021 17% 14% 15.2%
2022 17% 12% 14.0%
2023 19% 10% 13.6%
Average 15.5%
SD 1.5%
Correlatio -0.96395

p5.6
A B C
2018 12% 16% 12%
2019 14% 14% 14%
2020 16% 12% 16%
Average
a. return 14% 14% 14%
b. SD 2% 2% 2%
c.
A B Average return each year A C
2018 12% 16% 14% 12% 12%
2019 14% 14% 14% 14% 14%
2020 16% 12% 14% 16% 16%
Average
return 14% 14% 14% 14%
Average
return on
portfolio 14.00% 14.00%

d. Pa&b -1 tương quan hoàn hảo âm perfectly negatively correlated

Pa&c 1 dương positively
e.SD pPa&b 0
Pa&c 0.02
f. rủi ro a&b luôn có rủi ro = 0

p5.8 ?

p5.19
a. change in return=rate of return x beta
A 0.1848
B 0.1056
C -0.1188
b. A 0.1512
B 0.0864
C -0.0981

p5.29
Average return each year
12%
14%
16%