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Using the data in the following table, and the fact that the correlation of A and B is 0.59, calculate the volatility (standard deviation) of

Using the data in the following table, and the fact that the correlation of A and B is 0.59, calculate the volatility (standard deviation) of a portfolio that is 60% invested in stock A and 40% invested in stock B.

Realized Returns

Year

Stock A

Stock B

2008

7%

13%

2009

19%

33%

2010

4%

4%

2011

6%

7%

2012

4%

11%

2013

5%

28%

The standard deviation of the portfolio is________%.(Round to two decimal places.)

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