Which of the following statements is$$ TRUE?

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Part $1$

A$.$

Individual stocks with higher volatility have consistently rewarded investors with higher average returns.

B$.$

Portfolios with lower volatility have historically rewarded investors with higher average returns.

C$.$

Volatility seems to be a reasonable measure of risk when evaluating returns on individual stocks.

D$.$

Volatility seems to be a reasonable measure of risk when evaluating returns on large portfolios.