on realized returns is often used Returns earned over a given time period are called reaized returns. Historical data to estimate future results. Analysts across companies use realized stock returns to estimate the risk of ia Consider the case of Celestial Crane Cosmetics Inc. (CCC): Five years of realized returns for CCC are given in the following table. Remember: While CCC was started 40 years ago, its common stock has been publicly traded for the past 25 years. 1. 2. The returns on its equity are calculated as arithmetic returns. 3. The historical returns for CCC for 2012 to 201S are: 2012 2013 2014 2015 2016 Stock return 16.25% 11.05% 19.50% 27.30% 8.45% Given the preceding data, the average realized return on CCC's stock is of CCC's historical returns. Based on this conclusion, the The preceding data series represents standard deviation of CCC's historical returns is If investors expect the average realized return from 2012 to 2016 on CCC's stock to continue into the future, its coefficient of variation (CV) will be