How many of the following statements are true? (1) A well-diversified portfolio will be well protected against losses during severe market turmoil. () A portfolio will be well-diversified when the portfolio securities have low retum correlation (ii) A risk-averse investor always chooses a lower risk investment when compared a risk-neutral investor (iv) If the returns of two stocks have a covariance of 1, this indicates that asset returns move exactly in the same directions and will provide no diversification benefit (V) A negative Sharpe ratio is never possible O A. 1 O B.2 O C.3 O D.4 O E.5