Download monthly returns of three stocks from any stock market for the period January 2011 to December 2020 (ten years).

(a) Calculate time-series average returns and standard deviations of returns of the three stocks respectively.

(b) Form an equally-weighted portfolio for the three stocks. Calculate time-series average return and standard deviation of returns of the portfolio.

(c) Calculate the correlation and covariance of returns for each pair of stocks.

(d) Construct the minimum-variance frontier in the Excel for the portfolio in (b). Produce also the table that shows the expected returns and standard deviations of the portfolios on the frontier.