1. Consider the following possible returns on stock A, stock B, and the market portfolio over the next year:

State of economy	Probability of state occurring	Return on stock A	Return on stock B	Return on market
Recession	0.2	-6%	20%	-5%
Normal	0.5	10%	8%	8%
Boom	0.3	18%	-20%	12%

1. What are the expected returns on stock A, stock B, and the market?
2. What are the standard deviations of returns on stock A, stock B, and the market?
3. What is the correlation between the returns on the two stocks?
4. Please don't use excel thank you