Consider the following covariances between securities:

please explain as clearly and simply as possible (no excel please)

14. Consider the following covariances between securities: Duke Duke 0.0568 Microsoft -0.0193 Wal-Mart 0.0037 Microsoft Wal-Mart -0.0193 0.0037 0.2420 0.1277 0.1277 0.1413 The variance on a portfolio that is made up of a $6,000 investment in Duke Energy stock and a $4,000 investment in Wal-Mart stock is closest to: a. 0.050 b. 0.045 0.053 d. -0.020 e. None of the above C