7. These are the last five annual returns for each of three assets. Perform the calculations for the two portfolio combinations using the indicated weightings according to the instructions in steps a to h below. Individual Asset Annual Returns Asset X Asset Y Asset Z Portfolio Annual Returns 50-50% XY 50-50% XZ Year % % 2020 2019 2018 2017 2016 8.0% 10.0% 12.0% 14.0% 16.0% 16.0% 14.0% 12.0% 10.0% 8.0% 8.0% 10.0% 12.0% 14.0% 16.0% % % % % % % % % % % Erp Op CVP % % a. How would you characterize the annual returns of Asset X and Asset Y in terms of correlation? b. How would you characterize the annual returns of Asset X and Asset Z in terms of correlation? C. Calculate the annual returns for Portfolio XY for each of the five years. Show work. d. Calculate the annual returns for Portfolio XZ for each of the five years. Show work