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Suppose there are a large number of stocks, each with a standard deviation of 40%. Moreover, the correlation coefficient between any two of these stocks

Suppose there are a large number of stocks, each with a standard deviation of 40%. Moreover, the correlation coefficient between any two of these stocks is 20%.

1. What is the standard deviation of an equally-weighted 5-stock portfolio, an equally weighted 10-stock portfolio, an equally-weighted 50-stock portfolio, and an equally weighted 100-stock portfolio?

2. Interpret your result.

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