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7. The following information has been delivered to you regarding a stock: Covariance with the market: 24 Std deviation of the stock 8 Std deviation

7. The following information has been delivered to you regarding a stock:

Covariance with the market: 24

Std deviation of the stock 8

Std deviation of the market 6

What is the correlation coefficient of this stock with the market? Is it significant, or is it neutral? What can a correlation coefficient tell us, generally?

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