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c) Discuss and analyze some of the applications of the law of conservation of value.

d) Stock F and Stock N have had the following returns for the past three years: -12%, 10%, 32%; and 15%, 6%, 24%, respectively. Calculate the covariance between the two securities.

c) Discuss and analyze some of the applications of the law of conservation of value. 5 marks d) Stock F and Stock N have had the following returns for the past three years: -12%, 10%, 32%, and 15%, 6%, 24%, respectively. Calculate the covariance between the two securities. 5 marks