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Sam's portfolio has two securities. The Pfizer stock has an expected return of 20% and a standard deviation of 23%. The Moderna stock has an

Sam's portfolio has two securities. The Pfizer stock has an expected return of 20% and a standard deviation of 23%. The Moderna stock has an expected return of 6% and a standard deviation of 11%. If the correlation between Pfizer and Moderna stocks is 


-1, what is the lowest possible standard deviation that Sam's portfolio can have? 


Answer in percentage points and include four decimal places; do not include the '%' in your answer, e.g., 10.1234 would be entered if the answer was 10.1234%. You do not need to input trailing zeros. 

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