Instruction: All your final answers must be typed. You can use Excel to do the calculations for the second question. Attached a scanned copy that shows your scratch-work for all computational problems. Please submit all your answers to Blackboard before the deadline. Late submissions will result in a grade of zero without exception! 1. Data: This project makes use of annual data for two risky securities: the S&P 500 Index and Gold. Annual values for each of these securities during the period from 1975-2018 are provided in a spreadsheet posted on Blackboard. You should use an annual risk-free rate of 4% for this project. 2. Return Calculations: Calculate annual returns for each of the two securities from 1976 through 2018. Calculate the average annual return, the standard deviation of annual returns, and the correlation between the returns of the two securities during this period and fill in the table provided. (Note: all of these calculations are based on annual security % returns NOT index values). Attach the spreadsheet showing all of the relevant calculations as Exhibit 1. Average Annual Return Standard Deviation of Annual Returns S&P 500 Gold Return Correlation(S&P.Gold) Some useful Excel functions: to compute average return, use the function AVERAGE: for standard deviation, use STDEV: for correlation, use CORREL 3. Sharpe Ratios: What are the Sharpe ratios for the S&P and Gold? Sa EL Ra-R Ja