Calculate the beta of each of the stocks in Table 7.9 relative to a portfolio with equal investments in each stock.

Stock	BHP	BP	Fiat	Heineken	Nestle	Sony	TAM	Tata
BHP	1.00	0.30	0.45	0.42	0.21	0.48	0.19	0.33
BP	0.30	1.00	0.28	0.25	0.15	0.29	-0.12	0.17
Fiat	0.45	0.28	1.00	0.36	0.36	0.23	-0.03	0.32
Heineken	0.42	0.25	0.36	1.00	0.28	0.46	-0.02	0.36
Nestle	0.21	0.15	0.36	0.28	1.00	0.08	-0.09	0.21
Sony	0.48	0.29	0.23	0.46	0.08	1.00	-0.04	0.33
TAM	0.19	-0.12	-0.03	-0.02	-0.09	-0.04	1.00	0.18
Tata	0.33	0.17	0.32	0.36	0.21	0.33	0.18	1.00
Standard Deviation:	22%	33.80%	44.60%	20.30%	14.00%	34.50%	42.40%	44.50%
Standard deviation of returns and correlation coefficients for a sample of eight stocks.