Suppose two portfolios have the same average return and the same standard deviation of returns, but portfolio A has a lower beta than portfolio B$.$ Using the Treynor ratio of performance evaluation, indicate which of the following statements is correct or incorrect.

Group of answer choices

The performance of portfolio A is better than the performance of portfolio B

The performance of portfolio A is the same as the performance of portfolio B

The performance of portfolio A is worse than the performance of portfolio B

The Treynor ratio is scaled by the standard deviation of portfolio returns