Why do most assets of the same type show positive covariances of returns with each other? Would

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Why do most assets of the same type show positive covariances of returns with each other? Would you expect positive covariances of returns between different types of assets such as returns on Treasury bills, Apple common stock, and commercial real estate? Why or why not?

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Investment Analysis and Portfolio Management

ISBN: 978-1305262997

11th Edition

Authors: Frank K. Reilly, Keith C. Brown, Sanford J. Leeds

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