The S&P 500 index delivered a return of 20%, 25%, 25%, and -25% over four successive years. What is the arithmetic average annual return per year? 13.5% 11.25% 15.75% 10.13% The S&P 500 index delivered a return of 20%, 25%, 25%, and -25% over four successive years. What is the annual standard deviation of returns? 21.03% 10.55% 25.00% 24.28% Consider the following expected returns, volatilities, and correlations: The volatility of a portfolio that is equally invested in Wal-Mart and Duke Energy is closest to: 6.7% 4% 20.1% 0.7% UPS, a delivery services company, has a beta of 1.4, and Wal-Mart has a beta of 0.5. The risk-free rate of interest is 6% and the market risk premium is 8%. What is the expected return on a portfolio with 40% of its money in UPS and the balance in Wal-Mart? 14.17% 11.59% 12.88% 12.24%