7. Group the nine stocks into three portfolios, maximizing the dispersion of the betas of the three resultant portfolios. Repeat the test and explain any changes in the results.Market Index Stock Excess Returns (%)

A B C D E F G H I 1 29.65 33.88
25.20 36.48 42.89
39.89 39.67 74.57 40.22 90.19 2
11.91
49.87 24.70
25.11
54.39 44.92
54.33
79.76
71.58
26.64 3 14.73 65.14
25.04 18.91
39.86
3.91
5.69 26.73 14.49 18.14 4 27.68 14.46
38.64
23.31
0.72
3.21 92.39
3.82 13.74 0.09 5 5.18 15.67 61.93 63.95
32.82 44.26
42.96 101.67 24.24 8.98 6 25.97
32.17 44.94
19.56 69.42 90.43 76.72 1.72 77.22 72.38 7 10.64
31.55
74.65 50.18 74.52 15.38 21.95
43.95
13.40 28.95 8 1.02
23.79 47.02
42.28 28.61
17.64 28.83 98.01 28.12 39.41 9 18.82
4.59 28.69
0.54 2.32 42.36 18.93
2.45 37.65 94.67 10 23.92
8.03 48.61 23.65 26.26
3.65 23.31 15.36 80.59 52.51 11
41.61 78.22
85.02
0.79
68.70
85.71
45.64 2.27
72.47
80.26 12
6.64 4.75 42.95
48.60 26.27 13.24
34.34
54.47
1.50
24.46