Matt Peters wishes to evaluate the risk and return behaviors associated with various combinations of assets V and W under three assumed degrees of correlation: Perfectly positive, uncorrelated, and perfectly negative. The expected returns and standard deviations calculated for each of the assets are shown in the following table:

Asset V: Expected Return: $8\%$ Risk: $5\%$

Asset W: Expected Return: $13\%$ Risk: $10\%$

a$.$ If the returns of assets V and W are perfectly positively correlated$($coefficient $=+1),$ describe the range of $(1)$ expected return and $(2)$ risk associated with all possible portfolio combinations

b$.$ If the returns of assets V and W are uncorrelated $($coefficient $=0),$ describe the range of $(1)$ expected return and $(2)$ risk associated with all possible portfolio combinations

c$.$ If the returns of assets V and W are perfectly negatively correlated$($coefficient $=-1),$ describe the range of $(1)$ expected return and $(2)$ risk associated with all possible portfolio combinations