Consider two assets which are negatively correlated. Suppose the distribution of return scenarios for these assets in different probability weighted future scenarios is given by: State Probability of State Asset 1 Return Asset 2 Return Growth Steady Recession 0.3 0.5 0.2 23% 15% -32% -6% -3% 15% a. What are the expected returns and standard deviations of Assets 1 and 2? What is the covariance and the correlation between Asset 1 and Asset 2? b. We want to construct a portfolio weighted 70% in Asset 1 and 30% in Asset 2. What is the portfolio expected return and standard deviation?