The following data are available relating to the performance of Watkins Stock Fund and the market portfolio: Watkins Market Portfolio Average return 16 % 12 % Standard deviations of returns 24 % 22 % Beta 1.15 1.00 Residual 1 % 0 % The T-Bill return during the sample period was 4%. Calculate the Sharpe ratio for the Watkins Stock Fund. 0.38 0.44 0.50 0.46 None of the options are correct.