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The standard deviation of stock X is 0.60, while the standard deviation of stock Y is 0.80. If the correlation coefficient for X and Y

The standard deviation of stock X is 0.60, while the standard deviation of stock Y is 0.80. If the correlation coefficient for X and Y is -1 < X,Y < 1, then a portfolio that consists of stock X and stock Y MUST have a variance _________. Assume no short selling allowed.

i. Greater than 0.6

ii. Less than 0.8

iii. Greater than 0.8

iv. Less than 0.64

v. Not enough information

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