We have four available investments available. Suppose that each of them have the same individual risk $($variance$).$

They are the following:

A: Alaska Airlines $($Airline$)$

C: Crypto ETF $($Crypto$)$

G: Google $($Tech$)$

S: Shell $($Energy$)$

Suppose airline industry is the opposite sector of energy industry $($highly negative correlation$),$ and both of them

are independent from Tech industry $($almost zero correlation$).$

Also, Crypto is independent from airline, but has a moderate positive correlation with Tech $($due to the technology

used$),$ and a low positive correlation with energy $($due to the energy cost of miners$).$

We have $1000$ dollars to invest. We are going to depict a portfolio with a collection of letters for the stocks involved.

For instance:

$($G$)$ denotes a portfolio consisting of $100\%$ Google.

$($AC$)$ denotes a portfolio consisting of $50\%$ American Airlines and $50\%$ Crypto ETF.

$($ACG$)$ denotes a portfolio consisting of $33\mathrm{.}33\%$ Alaska Airlines, $33\mathrm{.}33\%$ Crypto ETF, and $33\mathrm{.}33\%$ Google.

$($CCGS$)$ denotes a portfolio consisting of $50\%$ Crypto ETF, $25\%$ Google, and $25\%$ Shell.

Choose only one of or $=$ for the correct direction of risks of the following investments, i$.$e$.,$ more, less, or

equal.