Suppose the standard deviation of returns from a typical share is about 0.58 (or 583 ) a year, Let's assume the correlaticn bebween the returris of any pair of shares is about 0.5, Consider a well-diversified portfolio with a very large number (us, 000 ) of wach shares, with equal. investments in each of them. The averoge expected returns of the portfollo is 24%. How large is the total portfolio variance? Provide an estimate. What proportion of this variance cannot be diversifved away? or partial credit, explain your thought process even if you don't get to the funal ansver)