Correlation Matrix
Security	IBM	KO	BMY	ORCL	MMM	BAX	BIG	NFLX	AKAM	GE	SPY	IWM	EFA	EEM	SHY	IEF	TLT	LQD	HYG
IBM	1	0.289	0.185	0.589	0.524	0.368	0.215	0.179	0.255	0.539	0.622	0.539	0.568	0.514	-0.127	-0.252	-0.246	0.023	0.429
KO	0.289	1	0.162	0.316	0.447	0.283	0.184	0.187	0.194	0.393	0.52	0.359	0.444	0.491	0.002	0.012	0.021	0.135	0.417
BMY	0.185	0.162	1	0.262	0.242	0.247	0.155	0.143	0.117	0.283	0.348	0.313	0.264	0.198	-0.053	-0.147	-0.155	-0.08	0.197
ORCL	0.589	0.316	0.262	1	0.535	0.432	0.249	0.311	0.404	0.5	0.739	0.636	0.664	0.628	-0.178	-0.29	-0.31	-0.048	0.558
MMM	0.524	0.447	0.242	0.535	1	0.425	0.231	0.135	0.228	0.672	0.703	0.585	0.617	0.586	-0.136	-0.218	-0.249	0.012	0.51
BAX	0.368	0.283	0.247	0.432	0.425	1	0.086	0.265	0.257	0.415	0.569	0.476	0.516	0.487	-0.141	-0.175	-0.159	0.019	0.453
BIG	0.215	0.184	0.155	0.249	0.231	0.086	1	0.092	0.187	0.259	0.376	0.483	0.275	0.268	-0.054	-0.092	-0.074	0.048	0.231
NFLX	0.179	0.187	0.143	0.311	0.135	0.265	0.092	1	0.225	0.254	0.372	0.317	0.284	0.314	-0.11	-0.106	-0.082	-0.052	0.25
AKAM	0.255	0.194	0.117	0.404	0.228	0.257	0.187	0.225	1	0.372	0.479	0.417	0.437	0.412	-0.193	-0.21	-0.203	-0.053	0.333
GE	0.539	0.393	0.283	0.5	0.672	0.415	0.259	0.254	0.372	1	0.744	0.651	0.635	0.603	-0.229	-0.319	-0.32	-0.089	0.504
SPY	0.622	0.52	0.348	0.739	0.703	0.569	0.376	0.372	0.479	0.744	1	0.877	0.857	0.807	-0.276	-0.392	-0.375	-0.054	0.742
IWM	0.539	0.359	0.313	0.636	0.585	0.476	0.483	0.317	0.417	0.651	0.877	1	0.74	0.688	-0.271	-0.386	-0.365	-0.072	0.66
EFA	0.568	0.444	0.264	0.664	0.617	0.516	0.275	0.284	0.437	0.635	0.857	0.74	1	0.856	-0.245	-0.391	-0.396	-0.045	0.722
EEM	0.514	0.491	0.198	0.628	0.586	0.487	0.268	0.314	0.412	0.603	0.807	0.688	0.856	1	-0.118	-0.208	-0.205	0.11	0.776
SHY	-0.127	0.002	-0.053	-0.178	-0.136	-0.141	-0.054	-0.11	-0.193	-0.229	-0.276	-0.271	-0.245	-0.118	1	0.821	0.668	0.668	-0.106
IEF	-0.252	0.012	-0.147	-0.29	-0.218	-0.175	-0.092	-0.106	-0.21	-0.319	-0.392	-0.386	-0.391	-0.208	0.821	1	0.929	0.81	-0.194
TLT	-0.246	0.021	-0.155	-0.31	-0.249	-0.159	-0.074	-0.082	-0.203	-0.32	-0.375	-0.365	-0.396	-0.205	0.668	0.929	1	0.814	-0.198
LQD	0.023	0.135	-0.08	-0.048	0.012	0.019	0.048	-0.052	-0.053	-0.089	-0.054	-0.072	-0.045	0.11	0.668	0.81	0.814	1	0.179
HYG	0.429	0.417	0.197	0.558	0.51	0.453	0.231	0.25	0.333	0.504	0.742	0.66	0.722	0.776	-0.106	-0.194	-0.198	0.179	1
x2	0.0000
	IBM	KO	BMY	ORCL	MMM	BAX	BIG	NFLX	AKAM	GE	SPY	IWM	EFA	EEM	SHY	IEF	TLT	LQD	HYG
IBM	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
KO	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
BMY	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
ORCL	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
MMM	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
BAX	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
BIG	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
NFLX	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
AKAM	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
GE	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
SPY	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
IWM	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
EFA	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
EEM	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
SHY	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
IEF	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
TLT	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
LQD	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000
HYG	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000

Stock Analysis: In this section, you will select five stocks from the provided list and determine their values by applying an appropriate valuation model from the following options: price to multiple model (earning or sales), dividend valuation model, or free cash flow model. A. Determine the value of each stock by using an appropriate model based on the characteristics provided for each stock; use each model at least once. B. Provide a rationale for the stock valuation method you chose for each stock. Cite specific information to support your decisions. C. Using the calculated valuation, the current market price, and historical performance, determine the expected return for each stock.Portfolio Development: In this section, you will develop a portfolio for both clients based on their risk tolerance, return objectives, and liquidity objectives. You will select appropriate assets from the provided list. A. For each client, develop a portfolio from the list of assets provided that is informed by your analysis of each clients objectives and (if applicable) the stock valuation you determined. B. For each portfolio, calculate the expected portfolio return using the CAPM (beta) model. C. For each portfolio, calculate the expected portfolio standard deviation.

Instructions:
1. Insert portfolio weights in the yellow highlighted area.
2. Portfolio Standard Deviation is calculated below in grey below.
	Standard Deviation	Portfolio Weight
IBM	20.0%	0%
KO	13.0%	0%
BMY	28.0%	0%
ORCL	16.0%	0%
MMM	14.0%	0%
BAX	16.0%	0%
BIG	32.0%	0%
NFLX	45.0%	0%
AKAM	37.0%	0%
GE	16.0%	0%
SPY	11.0%	0%
IWM	18.0%	0%
EFA	15.0%	0%
EEM	19.0%	0%
SHY	1.0%	0%
IEF	6.0%	0%
TLT	13.5%	0%
LQD	6.0%	0%
HYG	8.0%	0%
		0%
Portfolio Standard Deviation	0.00%