For both the domestic market and the World_ex Domestic market return series data below, calculate the following historical moments using the full sample period provided:

a) Average arithmetic annual return

b) Average annual excess return

c) Annual Volatility - standard deviation of annual returns (not excess returns)

d) Correlation - correlation between annual returns (not excess returns) of the two indexes These are total return indexes so be sure to take % changes to create returns: R_t = ((V_t / V_t-1) - 1) ). Be sure to use the rate from the end of the previous year as the risk-free return for each return year when calculating excess returns (Excess return_t = Return_t - risk-free rate_t-1).

	Scenario A data
Source	MSCI	MSCI	FED RESERVE
	USA Index	World_ex USA	1 YR Tbill
	Gross Value Index USD	Gross Value Index USD	APR Percent (USD)
Date			be sure to decimalize (0.1008)
Dec 31, 1983	100.00	100.00	10.08
Dec 31, 1984	105.98	103.47	9.22
Dec 31, 1985	140.69	156.65	7.60
Dec 31, 1986	165.34	259.79	5.95
Dec 31, 1987	171.81	323.60	7.10
Dec 31, 1988	199.15	413.56	9.02
Dec 31, 1989	261.61	460.81	7.76
Dec 31, 1990	256.16	355.69	6.82
Dec 31, 1991	336.41	399.92	4.12
Dec 31, 1992	361.17	352.20	3.61
Dec 31, 1993	397.55	467.06	3.63
Dec 31, 1994	405.49	502.75	7.20
Dec 31, 1995	560.34	561.90	5.18
Dec 31, 1996	695.12	602.33	5.51
Dec 31, 1997	932.07	617.77	5.51
Dec 31, 1998	1218.43	735.81	4.53
Dec 31, 1999	1491.13	943.83	5.98
Dec 31, 2000	1304.21	819.65	5.32
Dec 31, 2001	1147.29	646.25	2.17
Dec 31, 2002	886.77	546.01	1.32
Dec 31, 2003	1144.91	764.47	1.26
Dec 31, 2004	1267.57	923.80	2.75
Dec 31, 2005	1340.08	1061.97	4.38
Dec 31, 2006	1545.37	1340.51	5.00
Dec 31, 2007	1638.52	1513.66	3.34
Dec 31, 2008	1030.05	859.28	0.37
Dec 31, 2009	1309.64	1154.76	0.47
Dec 31, 2010	1511.95	1263.69	0.29
Dec 31, 2011	1542.04	1114.78	0.12
Dec 31, 2012	1790.83	1304.51	0.16
Dec 31, 2013	2374.78	1585.93	0.13
Dec 31, 2014	2692.14	1524.43	0.25
Dec 31, 2015	2727.60	1484.77	0.65
Dec 31, 2016	3044.24	1533.63	0.85
Dec 31, 2017	3711.03	1914.16	1.76
Dec 31, 2018	3543.98	1653.12	2.63
Dec 31, 2019	4665.38	2036.04	1.59
Dec 31, 2020	5662.42	2200.77	0.10
Dec 31, 2021	7189.69	2490.62	0.39
Dec 31, 2022	5790.48	2146.32	4.73
Dec 31, 2023	7359.63	2545.45	4.79