Calculate the Sharpe measure for Portfolio X and S&P 500 An analyst wants to evaluate Portfolio X, consisting entirely of U.S. common stocks, using both the Treynor and Sharpe measures of portfolio performance. The following table provides the average annual rate of retum for Portfolio X, the market portfolio (as measured by the Standard and Poor's 500 Index), and U.S. Treasury bills (T-bills) during the past eight years. Beta Portfolio X S&P 500 T-bills Annual Average Rate of Return 10% 12 6 Standard Deviation of Return 18% 13 n/a 0.60 1.00 n/a n/a = nux applicable 0.0222% and 0.0462% 0.00334% and 0.05678% 0.222% and 0.462% 0.345% and 0.4789%