Suppose Johnson & Johnson and Walgreen Boots Alliance have expected returns and volatilities shown here, with a correlation of 23%. Calculate (a) the expected return and (b) the volatility (standard deviation) of a portfolio that consists of a long position of $8,500 in Johnson & Johnson and a short position of $3,000 in Walgreens. 1 - Data table - (Click on the following icon in order to copy its contents into a spreadsheet.) Johnson & Johnson Walgreens Boots Alliance Expected Return 7.3% 10.9% Standard Deviation 15.7% 20.5% Print Done