Analyzing portfolio risk and return involves the understanding of expected returns from a portfolio. Consider the following case: Felix is an amateur investor who holds a small portfolio consisting of only four stocks. The stock holdings in his portfolio are shown in the following table: The expected return on Felix's stock portfolio is Suppose each stock in the preceding portfolio has a correlation coefficient of 0.4(=0.4) with each of the other stocks. If the weighted average of the risk (standard deviation) of the individual securities in the partially diversified portfolio of four stocks is 28%, the portfolio's standard deviation (p) most likely is 28%