Consider a portfolio P of two securities: A and B. Over a period of 12 months, security A yields a monthly return that alternates between 1% and 2% while security B yields a fixed monthly return of 0.2%. The portfolio weight of security A alternates between 50% when the monthly return is 1% and 90% when the monthly return is 2%.

Please find the average monthly return of the portfolio and break it down into its active component P and passive component P, and then compute the active ratio P using the weight-based performance approach