Which one of the statements below is true?

The correlation between two assets can higher than $1\mathrm{.}5$

When two assets with a correlation lower than $1$ are combined into a portfolio, the volatility of the portfolio is higher than the weighted$-$average volatility of the

two assets.

The correlation between two assets can be lower than $-1\mathrm{.}5$

When two assets with a correlation lower than $1$ are combined into a portfolio, the volatility of the portfolio is equal to the weighted$-$average volatility of the two

assets.

When two assets with a correlation lower than $1$ are combined into a portfolio, the volatility of the portfolio is lower than weighted$-$average volatility of the

two assets.