83. Company X, Company Y, and Company Z have the following expected return characteristics:

Expected Return (p.a) Variance (p.a) Correlation With Market

X 13.60% 2.27% 0.52

Y 7.90% 1.28% 0.68

Z 9.40% 1.41% 0.65

If the market has a variance of 1.54%, the company with the highest market beta is:

1. Company X.

2. CompanyY.

3. Company Z.