d. Investors put more money into a failore Suppose that over the past 5 vears, a portfolio manager produced the following returns and use it to e. Investors are all noise traders. answer the next 3 questions: 38. Calculate the Downside standard deviation of retums for the portfolio. Use the average return as the benchmark. a. 5.633% b. 7.045% c. 6.901% d. 6.635% e. 9.013% 39. Calculate the Sortino ratio. a. 0.53 b. 0.14 c. 0.19 d. 0.45 c. 2.90 40. Calculate the Sharpe ratio. a. 0.53 b. 0.14 c. 0.19 d. 0.45 e. 2.90