There are three stocks: X,Y and Z in a portfolio. Assume that for the annual returns of stocks X and Y, the corresponding means, variances and covariances can be found as follows: For the annual returns, the correlation of X and Z is 0.8, and the correlation of Y and Z is 0.3. Furthermore, the mean and variance of the annual return of Z is the same as that of X and Y, respectively. Assuming a risk-free rate of 1\%, determine the highest Shape ratio of the portfolio and the corresponding weightings of X,Y and Z. You can assume that the weightings have one decimal place (e.g., 0.1,0.2 and 0.7). For this question, please submit your Excel worksheet. Answers: Highest Sharpe ratio = Weightings of X,Y and Z= Calculation steps (e.g., you can show an image of your Excel file): There are three stocks: X,Y and Z in a portfolio. Assume that for the annual returns of stocks X and Y, the corresponding means, variances and covariances can be found as follows: For the annual returns, the correlation of X and Z is 0.8, and the correlation of Y and Z is 0.3. Furthermore, the mean and variance of the annual return of Z is the same as that of X and Y, respectively. Assuming a risk-free rate of 1\%, determine the highest Shape ratio of the portfolio and the corresponding weightings of X,Y and Z. You can assume that the weightings have one decimal place (e.g., 0.1,0.2 and 0.7). For this question, please submit your Excel worksheet. Answers: Highest Sharpe ratio = Weightings of X,Y and Z= Calculation steps (e.g., you can show an image of your Excel file)