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Two stocks X and Y with the same standard deviation of returns sigma = 0 . 8 8 and correlation coefficient of their returns

Two stocks X and Y with the same standard deviation of returns \sigma =0.88 and correlation coefficient of their returns pXY =-0.45. Calculate the result of diversifying two portfolios consisting of stocks X and Y in ratios of 0.30-0.70 and 0.50-0.50 respectively. How do you comment on the comparison of results?

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