3) Suppose that the standard deviation of quarterly changes in spot prices of a commodity is $0.7, the standard deviation of quarterly changes in futures prices for the contract to be used in the hedge is $0.76, and the correlation between these two price changes is 0.86. What is the optimal hedge ratio for a three-month contract, assuming that the hedger appliescross hedgingin astatic strategy?

Enter your answer in decimal form, rounded to three decimal places.