Which of the following statement is false?

A) Stand alone risk is the projects total risk, if it were operated independently and is measured by standard deviation.

B) Corporate risk is a function of the projects NPV and its correlation with the returns on the overall financial markets.

C) Market is the most relevant risk and is measured by the projects beta

D) In general, there is only a high degree of correlation between standalone, corporate, and market risk.

E) It is good to perform subjective risk analysis for divisions with different levels of risk