finance question

Part C: (32 marks) As described in the BlackRock iShares website: httgl/www.blackrock.com/ca/individua|/en/products/239574/ishares-jantzi-social-index-etf The Jantzi Social Index "is comprised of securities of Canadian issuers selected by Iantzi based on criteria for identifying companies that reflect a higher standard ofenvironmental and social performance," and the exchange traded fund (ETF), called the iShares Jantzi Social Index Fund (XEN), seeks to replicate that index. Roughly 2/3 of the stocks held by XEN were among the stocks in the 5&P/TSX 60 Index Fund (XIU), which is a well-known ETF. For this assignment, collect daily and monthly closing values and any dividend of the two ETF's. The data, under the ticker symbols XEN.TO and XIU.TO, are freely available from the Yahoo! Finance website http:[[finance.yahoo.com( on the Internet. The extension .TO indicates that each fund is traded on the Toronto Stock Exchange (TSX). For each fund, follow Yahoo! Finance's electronic link to Historical Prices. Download the price and dividend data into Excel files. For each ETF, there are seven columns ofdata, labeled as Date, Open, High, Low, Close, Volume, and Adj. Close. The daily, weekly, and monthly data to be collected are to cover the sample period from September 30, 2011 to September 30, 2019. Keep the Date and Close columns and delete the rest. For daily return calculations, ignore weekends and holidays'. Notice that each monthly closing price, as reported in Yahoo! Finance, though dated the beginning of the corresponding month, is actually the monthend closing price. 1. Use the daily and monthly return data of the two I:'I'F's to estimate, for each setof return data, their average returns, theirvariances of returns, and their covariane and correlation of returns.... 12 marks 2. Treating each sample estimate ofthe variances and covariance of returns above as a random variable, nd its sampling variance and standard error, which is the square root of its sampling variance....4 marks 3. In the case of the estimated correlation of returns above, establish 95% and 99% condence intervals of the population correlation. ..8 marks 4. Divide each set of the daily and monthly return data of the two ETF's into two sub-periods with equal or nearly equal numbers of observations. In each case, test whether the estimated correlations of returns are statistically different at the 5% and 1% signicance levels...8 marks