Which of the following best explains the use of portfolio insurance?

Group of answer choices

Portfolio insurance can be obtained by purchasing an instrument, such as a put option, that provides positive returns whenever the portfolio returns are large and negative

The greater the correlation between the individual assets in a portfolio, the greater the portfolio volatility

The risk of a portfolio can be reduced but it can never be less than the risk on an individual asset in the portfolio

Portfolio insurance is a method for reducing the market price risk of contracts that will be entered in future