toby has invested 25% of his funds in share 1 and the remaining 75% in share 2. His assessment of each investment is as follows, Expected return of share 1. 15% share 2. 21% Standard deviation share 1. 18% share 2. 25%, Correlation coefficient between their returns -0.5.

• What is the expected return of the portfolia
• what is the standard deviation of the return
• Is toby better or worse off as a result of investing in this portfolio rather than either of the two shares.