An optimal hedge ration equal to $0\mathrm{.}6524$ means that:

The hedge effectiveness is $(0\mathrm{.}6524)2=0\mathrm{.}4256$ or $42\mathrm{.}56\%$

The company$/$investor should hedge by taking a position in futures contracts corresponding to $65\mathrm{.}24\%$ of its exposure

The hedge effectiveness is $0\mathrm{.}6524$

The company$/$investor should hedge by taking a position in futures contracts corresponding to $0\mathrm{.}6524\%$ of its exposure