Question One a. Given the following table of data, determine the answers below Charlie Delta Expected return 5.4% 14.9% Standard Deviation 8.3% 25.3% Covariance -0.00335 i. The correlation between the returns on Stock Charlie and Delta [5 marks] ii. What are the portfolio expected return and standard deviation if you invest 30% in Charlie, 50% in Delta and the rest in T-bills that offers a risk-free return of 3%? Provide all the workings to get full marks. [20 marks] iii. Interpret your result in (i) and (ii) above with regard to diversification benefits. [5 marks] b. Could beta be negative? Discuss why or why not with examples. [20 marks] [Total: 50 marks]