Consider two imperfectly correlated risky securities, K and L. K has an expected rate of return of 13% and a standard deviation of 19%. L has an expected rate of return of 10% and a standard deviation of 16%. Their correlation with each other is 0.7. What is the weight of security L in the minimum variance portfolio? Remember to enter the securities in the proper order into the weight formula. Please enter your answer in decimal form rounded to the third decimal place.

Consider two imperfectly correlated risky securities, K and L. K has an expected rate of return of 13% and a standard deviation of 19%. L has an expected rate of return of 10% and a standard deviation of 16%. Their correlation with each other is 0.7. What is the weight of security K in the minimum variance portfolio? Remember to enter the securities in the proper order into the weight formula. Please enter your answer in decimal form rounded to the third decimal place.