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Q.2 The principle of hedging is based on the positive correlation between the forward and spot prices of financial financial instruments. (20pts) a) Demonstrate the formula for the optimal hedge ratio. b) What position should an investor take and how many contracts should he trade assuming the following the following situation: - Value of the S\&P500 Index: 1161 - Portfolio value: $5.25M - Portfolio Beta: 1.25 - Value of the underlying (mini-SP8500): 50 * index value Q.2 The principle of hedging is based on the positive correlation between the forward and spot prices of financial financial instruments. (20pts) a) Demonstrate the formula for the optimal hedge ratio. b) What position should an investor take and how many contracts should he trade assuming the following the following situation: - Value of the S\&P500 Index: 1161 - Portfolio value: $5.25M - Portfolio Beta: 1.25 - Value of the underlying (mini-SP8500): 50 * index value