9. Hyacinth Macaw invests 45% of her funds in stock I and the rest in stock J. The standard deviation of returns on I is 18%, and on J it is 25%. a) Calculate the variance of portfolio returns, assuming the correlation between the returns is 1 b) Calculate the variance of portfolio returns, assuming the correlation is 0.6 c) Calculate the variance of portfolio returns, assuming the correlation is zero.

9. Hyacinth Macaw invests 45% of her funds in stock I and the rest in stock J. The standard deviation of returns on lis 18%, and on J it is 25%. a) Calculate the variance of portfolio returns, assuming the correlation between the returns is 1 b) Calculate the variance of portfolio returns, assuming the correlation is 0.6 c) Calculate the variance of portfolio returns, assuming the correlation is zero