Given the information below, what is the difference between the Sharpe Ratios of stock X and stock Z (Hint: according to our discussion in class, the Sharpe Ratio is the ratio of E[R] to E[R]).

State	Probability	Rx	Rz
Recession	.27	6.5%	13.8%
Expansion	.73	15.2%	9.1%

3.01

2.85

3.33

1.64

4.21

4.97

5.22

E R