5. Select the most) inappropriate sentence among the following statements on the single index model. A. The single index model uses excess returns, which are the differences between the rate of returns and the risk-free rate. B. The single index model shows the relationship between individual excess returns and market excess returns. C. If the correlation between a stock and the market index is -1, the security characteristic line (SCL) of the stock has the negative slope. D. If the SCLs for two different individual stocks have the same slope, these two stocks have the same diversification effect. E. If the alpha is positive, the SCL has the Y-intercept above zero