4. The Excel file Stock Data contains monthly return data for seven (7) stocks. a. Use these returns and the Matrix of Excess Returns to compute the Variance-Covariance Matrix for these seven (7) stocks. (Do not use the varcovar VBA function). b. Use the Variance - Covariance Matrix for these seven (7) stocks to compute the individual stock proportions for the Global Minimum Variance Portfolio (GMVP). C. Calculate the Expected Return and Risk (Standard Deviation) for the Global Minimum Variance Portfolio (GMVP). Stock Data RETURNS FOR 7 STOCKS Month 1 2 3 4 5 6 7 8 9 10 11 12 Stock A Stock B Stock C Stock D Stock E Stock F -2.90% -9.51% 1.94% -16.18% -3.23% 4.31% 4.79% 10.51% 10.47% 12.03% 16.66% 7.61% 2.91% 7.93% 12.07% 8.29% -0.72% -0.56% 4.25% -7.34% -10.77% -12.40% 2.16% -5.94% 5.30% -14.27% 5.18% 3.30% 13.38% 14.35% -0.88% 3.70% -1.64% 7.31% 10.56% 6.54% 3.54% 1.78% 7.50% 16.59% -3.93% -0.90% 3.76% -15.77% 4.65% 19.34% 5.85% -1.45% 2.94% -4.16% 2.96% 6.42% -2.76% 10.47% 2.86% -4.34% -0.72% 0.00% 5.11% -6.24% -0.86% -15.88% 14.50% 6.32% 1.08% -1.44% 0.41% 35.06% 1.90% 6.76% 3.74% -13.12% -2.85% 21.97% 3.73% 12.15% 2.06% 2.76% -3.05% 11.46% -5.39% 4.74% -4.55% -6.39% 4.85% 29.49% 22.15% 25.86% 17.46% 17.24% 1.26% 14.75% -2.59% 4.11% -0.45% -2.66% 5.82% -6.92% -5.32% - 12.50% -1.81% 18.13% -7.20% 0.00% -24.99% -7.52% -11.98% -5.49% -0.86% -25.57% -0.38% 2.44% -2.09% -0.53% 5.10% 21.51% 0.75% 1.19% 12.84% 3.01% Stock 2.40% 5.20% 4.00% -0.50% 9.00% 1.90% -0.40% -2.30% 2.10% 2.40% -6.70% 1.30% 2.60% -2.50% 9.80% -0.70% -0.30% -9.00% -4.90% -0.40% 13 14 15 16 17 18 19 20 4. The Excel file Stock Data contains monthly return data for seven (7) stocks. a. Use these returns and the Matrix of Excess Returns to compute the Variance-Covariance Matrix for these seven (7) stocks. (Do not use the varcovar VBA function). b. Use the Variance - Covariance Matrix for these seven (7) stocks to compute the individual stock proportions for the Global Minimum Variance Portfolio (GMVP). C. Calculate the Expected Return and Risk (Standard Deviation) for the Global Minimum Variance Portfolio (GMVP). Stock Data RETURNS FOR 7 STOCKS Month 1 2 3 4 5 6 7 8 9 10 11 12 Stock A Stock B Stock C Stock D Stock E Stock F -2.90% -9.51% 1.94% -16.18% -3.23% 4.31% 4.79% 10.51% 10.47% 12.03% 16.66% 7.61% 2.91% 7.93% 12.07% 8.29% -0.72% -0.56% 4.25% -7.34% -10.77% -12.40% 2.16% -5.94% 5.30% -14.27% 5.18% 3.30% 13.38% 14.35% -0.88% 3.70% -1.64% 7.31% 10.56% 6.54% 3.54% 1.78% 7.50% 16.59% -3.93% -0.90% 3.76% -15.77% 4.65% 19.34% 5.85% -1.45% 2.94% -4.16% 2.96% 6.42% -2.76% 10.47% 2.86% -4.34% -0.72% 0.00% 5.11% -6.24% -0.86% -15.88% 14.50% 6.32% 1.08% -1.44% 0.41% 35.06% 1.90% 6.76% 3.74% -13.12% -2.85% 21.97% 3.73% 12.15% 2.06% 2.76% -3.05% 11.46% -5.39% 4.74% -4.55% -6.39% 4.85% 29.49% 22.15% 25.86% 17.46% 17.24% 1.26% 14.75% -2.59% 4.11% -0.45% -2.66% 5.82% -6.92% -5.32% - 12.50% -1.81% 18.13% -7.20% 0.00% -24.99% -7.52% -11.98% -5.49% -0.86% -25.57% -0.38% 2.44% -2.09% -0.53% 5.10% 21.51% 0.75% 1.19% 12.84% 3.01% Stock 2.40% 5.20% 4.00% -0.50% 9.00% 1.90% -0.40% -2.30% 2.10% 2.40% -6.70% 1.30% 2.60% -2.50% 9.80% -0.70% -0.30% -9.00% -4.90% -0.40% 13 14 15 16 17 18 19 20