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Based on the minimum variance hedge ratio approach what is the hedging effectiveness, given the following information. The correlation coefficient between changes in the underlying

Based on the minimum variance hedge ratio approach what is the hedging effectiveness, given the following information. The correlation coefficient between changes in the underlying instruments price and changes in the futures contract price is 0.70, the standard deviation of the changes in the underlying positions value is 40%, and the standard deviation of the changes in the futures contracts price is 50%. (Select the closest answer.) show your work

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