The following table provides monthly stock returns for Snap Inc. (SNAP), Twitter, Inc. (TWTR).

	SNAP	TWTR
19-May	6.7%	8.7%
19-Jun	20.3%	4.2%
19-Jul	17.5%	-21.2%
19-Aug	-5.8%	-0.8%
19-Sep	-0.2%	3.4%
19-Oct	-4.7%	27.3%
19-Nov	1.3%	-3.1%
19-Dec	7.1%	-3.7%
20-Jan	12.6%	-1.3%
20-Feb	-22.9%	-2.2%
20-Mar	-16.1%	26.0%
20-Apr	48.1%	-16.8%
20-May	-4.8%	1.9%

a. Calculate the average monthly return and the standard deviation for each stock.

b. Calculate the average monthly return and the standard deviation of a portfolio that consists of 50% of funds invested in each stock.

c. How does the investor earn benefit from investing in a portfolio? Explain your answer by also calculating the correlation and the coefficient of variation.