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The standard deviation of monthly changes in the prices of a commodity is $1.6, the standard deviation of monthly changes in a futures price on

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The standard deviation of monthly changes in the prices of a commodity is $1.6, the standard deviation of monthly changes in a futures price on the commodity is $4.5, and the comicient of correlation between the two changes is 0.7 What is the optimal hedge ratio (in percent do not include the percent sign in your answer) for a one-month contract

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