Which of the following problems in finance could not be usefully addressed by a GARCH model?

Which one of the following problems in finance could not be usefully addressed by a GARCH model ? Select one: Producing correlation forecasts for value at risk models a. O b. Producing dynamic hedge ratios Oc. Producing time-varying beta estimates for a stock O d. Producing option prices Oe. Producing forecasts of returns for use in trading models