Which of the following statements are true ( multiple true statements possible)

1.Tthe variance-covariance matrix has the corresponding covariance in the main diagonal

2. The variance-covariance matrix can be used to estimate the cross- sectional risk of an asset

3. The Global Minimum Variance portfolio always results in a portfolio with the lowest drawdown

4. The Global Minimum Variance portfolio assigns weights that inversly proportional to the volatility of each asset

5. The Global Minimum Variance weights need to be normalized

6. The Global Minimum Variance restricts the larger allowed weight to be 20 %