The correlation coefficient between the stock of Apple Inc. and Amazon is $0\mathrm{.}39.$ What can you infer about the riskiness of the portfolio created with the stocks of the two firms, compared to keeping the individual stocks of the two firms? Should you choose to diversify?

Below are the standard deviations for the two distinct firms and the portfolio.

Apple Inc. Amazon Portfolio AA

Standard deviation $0\mathrm{.}380\mathrm{.}290\mathrm{.}14$