7. The following are monthly percentage price changes for four market indexes: Month DJIA S&P 500 Russell 2000 NIKKEL 1 2 3 4 5 6 03 .07 -02 .01 .05 --06 .02 .06 --01 .03 .04 -04 .04 .10 -.04 .03 .11 -08 04 -.02 .07 .02 .02 06 Compute the following: a. Expected monthly rate of return for each series. b. Standard deviation for each series. c. Covariance between the rates of return for the following indexes: DJIA S&P 500 S&P 500Russell 2000 S&P 500 NIKKEI Russell 2000 NIKKEI d. The correlation coefficients for the same four combinations c. Using the answers from Parts a, b, and d, calculate the expected return and standard deviation of a portfolio consisting of equal parts of (1) the S&P and the Russell 2000 and (2) the S&P and the NIKKEI. Discuss the two portfolios