1. Compute historical average arithmetic and geometric returns, and std deviations for the US stock market returns, TUR returns, short-term treasuries and a portfolio composed of 50% long in US treasuries and 50% in the US Stock (call it the US portfolio). How does the historical return distribution of the TUR ETF compare to that of the US portfolio, the portfolio composed of 50% long in US treasuries and 50% in the US Stock ? Plot these two distributions on the same graph. Do they look like normally distributed? Note: For a 50-50 portfolio composed of two assets i and j the portfolio return rp(t) is equal to 50%*r_i (t) + 50%*r_j (t) where r_i (t) is the return of asset i at time t and r_j (t) is the return of asset j at time t. Simply put you need to take the average of the returns of the two assets at each point in time to find the return of US portfolio.