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Consider the following information concerning three portfolios, the market portfolio, and the risk-free asset: Portfolio R P P P X 16.5 % 37 % 1.40

Consider the following information concerning three portfolios, the market portfolio, and the risk-free asset:

Portfolio RP P P
X 16.5 % 37 % 1.40
Y 15.5 32 1.15
Z 7.4 22 .70
Market 11.8 27 1.00
Risk-free 5.2 0 0

Assume that the correlation of returns on Portfolio Y to returns on the market is .88. What is the percentage of Portfolio Ys return that is driven by the market?(Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

Ys return explained by market

%

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