Consider a $20 million portfolio consisting of $12 million of Stock X and $8 million of Stock Y. Stock X has a standard deviation of 40% while Stock Y has a standard deviation of 60%. If the standard deviation of the portfolio is 48%, which of the following statements is true?

a. The correlation coefficient between Stock X and Stock Y is 1.0

b. The correlation coefficient between Stock X and Stock Y is less than 1.0 but greater than 0.

c. The correlation coefficient between Stock X and Stock Y is 0.6.

d. Cannot draw any inference about the correlation coefficient between Stock X and Stock Y from the above information.