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The covariance between Johnson & Johnson's (Ticker: JNJ) returns and the market's returns is 0.001317036. The variance of the market's returns is 0.001890444. Calculate and

The covariance between Johnson & Johnson's (Ticker: JNJ) returns and the market's returns is 0.001317036. The variance of the market's returns is 0.001890444. Calculate and interpret Johnson & Johnson's beta. Round your answer to two decimal places.

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