Year	S&P 500 Returns	Company A Returns	Company B Returns
			Milburn	Hedge Fund
1	1997	33.36	28.39	22.35
2	1998	28.58	21.02	8.23
3	1999	21.04	17	36.56
4	2000	-9.11	4.7	12.19
5	2001	-11.88	3.29	6.77
6	2002	-22.1	13.84	1.42
7	2003	28.68	26.67	17.99
8	2004	10.88	7.57	8.8
9	2005	4.91	11.92	10.67
10	2006	15.79	10.76	12.39
11	2007	5.49	11.85	10.22
12	2008	-37	5.33	-21.63
13	2009	26.46	7.72	23.74
14	2010	15.06	20.41	10.88
15	2011	2.11	-7.2	-5.48
16	2012	16	7.92	8.25
17	2013	32.39	2.07	11.12
18	2014	13.69	21.99	2.88
19	2015	1.38	1.76	0.04
20	2016	11.96	17.99	6.1
21	2017	21.83	13.97	10.36

Provide risk & return calculations

	Milburn	Hedge Fund
Mean Return
Standard Deviation of Returns
BETA of Stock

1) Which company is riskier on a stand alone basis? Why?

2) Which company has more market risk? Why?

Today's T bill Rate is 1%

3) What is the expected return from Milburn?

4) What is the expected return from Hedge Fund?