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The covariance between Macerich Corporation's (Ticker: MAC) returns and the market's returns is 0.0011205. The variance of the market's returns is 0.0011851. Calculate and interpret

The covariance between Macerich Corporation's (Ticker: MAC) returns and the market's returns is 0.0011205. The variance of the market's returns is 0.0011851. Calculate and interpret Macerich Corporation's beta. Round your answer to two decimal places.

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