39 3a. What is the standard deviation of returns of the monthly closing share prices for Kohl's and The TJX Companies? 20 3b. Why does the standard deviation of these returns matter? 12 Inputs: Kohl's (KSS) Monthly Closing Prices 42.75 39.15 14.59 18.46 Problem #3 seeks 9 answers. The TJX Companies (TJX) Monthly Closing Prices 59.04 Jan 2020 59.80 Feb 2020 47.81 Mar 2020 49.05 Apr 2020 TJX Monthly Returns Feb 2020 Mar 2020 Apr 2020 KSS Monthly Returns Intermediate answer Intermediate answer Intermediate answer 52 a.Standard Deviations: 600 VOUW NOW KSS TUX -0.15 0.45 4.30 28.74 -0.05 0.13 7.00 53.93 Standard Deviation Answer: b. Why does it matter? A. Standard deviation is a risk proxy. B. Standard deviation is a direct indicator of the single period return. C. When the geometric mean return is divided by the standard deviation, the result is the correct measure of investment returns. D. Standard deviation is the square root of the variance. W