Assume that the correlation of returns on Portfolio Y to returns on the market is .66. What is the percentage of Portfolio Ys return that is driven by the market?

Consider the following information concerning three portfolios, the market portfolio, and the risk-free asset: Assume that the correlation of returns on Portfolio Y to returns on the market is.66. What is the percentage of Portfolio Y's return that is driven by the market? (Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.) Y's return explained by market %