2. Assume the U.S. dollar returns (monthly averages) shown below for the three European countries. Market Mean Return (R, %) Risk-Free Rate (rfr, %) Standard Deviation (0) Country Beta (B) Slovenia 2.00% 0.19% 0.2300 1.59 Slovakia 1.85% 0.19% 0.1375 1.50 Estonia 0.95% 0.19% 0.0988 1:25 Based on the table above: (a) Calculate the Sharpe and Treynor measures of market performance in these three European countries. (12 marks) (b) Rank these countries from well-diversified portfolio to poorly diversified portfolio based on the Sharpe and Treynor measures (6 marks) [50 marks]