Kelli Blakely is a porttolio manager for the Miranda Fund (Miranda), a core large-cap equity fund. The market proxy and benchmark for performance measurement purposes is the S&P 500. Although the Miranda portolio generally mirrors the asset class and sector weightings of the S&P, Blakely is allowed a significant mount of leeway in managing the fund. Her portfolio holds only stacks found in the S&P 500 and cash. Blakely was able to produce exceptional returns last year (as outined in the table below) through her market-timing and security selection skills. At the outset of the year, she became extremely concerned that the combination of a weak economy and geopolitical uncertainties would negatively impact he market akng a bold step. She changed her market allocation. For the entire year her asset class exposures averaged 50% n stocks and 50% n cash The S&P's allocation between stocks and cash curing the period was a constant 96% and 4%, respectively. The risk-free rate of retum was 3%. One-Year Traling Returns Miranda Fund 95% 36 0% S&P 500 Return Standard deviation Beta 21 8% 41% 1 00 1 30 a. What are the Sharpe ratios for the Miranda Fund and the S&P 500? (Negative values should be indicated by a minus sign. Do not round intermediate calculations. Round your answers to 4 decimal places.) Sharpe Ratio Miranda fund S&P 500 b. What is the M measure for Miranda? (Do not round intermediate calculations. Round your answer to 2 decimal places.) M2 Measure c. What is the Treynor measure for the Miranda Fund and the S&P 500? (Negative values should be indicated by a minus sign. Do not round intermediate calculations. Round your answers to 4 decimal places.) r Measure Miranda S&P 500 d. What is the Jensen measure tor the Miranda Fund? (Do not round intermediate calculations. Round your answers to 4 decimal places.) Jensen measure