1.You would like to evaluate the historical relationship between value-oriented and growth-oriented stocks that form the basis for theHMLrisk factor in the Fama-French multifac-tor model. The proxies you choose are the Russell 1000 Value Index and the Russell 1000Growth Index, respectively.a. Under theIndicestab, downloadweeklyprice information for the five-year periodfrom February 27, 2006, to February 25, 2011, for each index.b. For each index, calculate the set ofweeklyreturns that correspond to these weekly priceseries.c. Calculate the average weekly return and the return standard deviation for each indexseries. Which equity investment style (i.e., value versus growth) appears to have beenthe most successful over this sample period? d. Suppose that you are considering forming a hedge fund employing a strategy of always being long in value stocks and short in growth stocks. Evaluate the potential success ofthis strategy by taking the difference in returns between the value and growth indexesyou analyzed above. What is the average return and return standard deviation for thereturn differential series?e. Plot the return differential series you calculated in Part d, using the return differentialon the vertical axis and time on the horizontal axis. What do you conclude about the viability of thelong value, short growthinvestment strategy?