To answer the following questions, please see spreadsheet below a) Which of the four assets provides the best risk to reward ratio? b) Which combination of two assets provides the best possibilities of diversification? c) What is the beta of GLD, USO, Bitcoin using S&P 500 index as the market portfolio? d) Among GLD, USO and Bitcoin three assets, please identify one asset that combine with S&P 500 index to create a possible portfolio that provides the best risk to reward ratio. What is the return and standard deviation of the portfolio? e) Among all possible portfolios that are created with a combination of S&P 500 index, GLD and Bitcoin, what would be the investment proportions in S&P 500 index, GLD and Bitcoin for a portfolio that provides the best risk to reward ratio? What is the return and standard deviation of the portfolio?

Date	SPY Price	GLD Price	USO Price	Bitcoin Price
1-Jan-21	$ 365.20	$ 172.61	$ 35.18	$ 33,114.36
1-Feb-21	$ 375.36	$ 161.81	$ 41.31	$ 45,137.77
1-Mar-21	$ 391.12	$ 159.96	$ 40.53	$ 58,918.83
1-Apr-21	$ 413.16	$ 165.66	$ 43.27	$ 57,750.18
1-May-21	$ 415.87	$ 178.38	$ 45.42	$ 37,332.86
1-Jun-21	$ 423.81	$ 165.63	$ 49.88	$ 35,040.84
1-Jul-21	$ 435.58	$ 169.82	$ 50.66	$ 41,626.20
1-Aug-21	$ 448.54	$ 169.69	$ 48.04	$ 47,166.69
1-Sep-21	$ 426.27	$ 164.22	$ 52.56	$ 43,790.89
1-Oct-21	$ 457.64	$ 166.65	$ 57.15	$ 61,318.96
1-Nov-21	$ 453.97	$ 165.50	$ 47.91	$ 57,005.43
1-Dec-21	$ 473.30	$ 170.96	$ 54.36	$ 46,306.45
1-Jan-22	$ 449.91	$ 168.09	$ 62.48	$ 38,483.13
1-Feb-22	$ 434.23	$ 177.12	$ 64.74	$ 40,030.98---------------