Note; Please write step by step and explain

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1. You are thinking about investing your money in the stock market. You have the following three stocks in mind: stock A, B, and C. You know that the economy is expected to behave according to the following table. You believe the likelihood of each scenario is identical (all states of nature have equal probabilities. You also know the following about your two stocks: State of the Economy R R R Depression Recession Normal Boom -20% 5% -5% 8% 16% 5% 20% -12% 7% 30% 9% -3% a) Calculate the correlation coefficient between stock A and C.