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The standard deviation of the underlying positions value is 35%. The standard deviation of the futures contract is 27%. The correlation coefficient is 0.8. The

The standard deviation of the underlying positions value is 35%. The standard deviation of the futures contract is 27%. The correlation coefficient is 0.8. The number of futures contracts necessary is 1. Assume that the hedger has a long position in the underlying and a short position in the futures contracts. What is the standard deviation of the hedged profit?

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