You have developed data that gives (1) the percentage annual returns of the market for the past five years and (2) similar percentage annual returns information on Stocks A and B.

Years Market % returns Stock A % returns Stock B % returns

2018 3% 16% 3%

2017 5% 12% 3.5%

2016 1% 10% 3%

2015 -1% -25% 2.5%

2014 6% -24% 3%

Which of the possible answers best describes the historical beta for A and B?

A) bA > 0; bB < 1.

B) bA > +1; bB < 0.

C) bA = 0; bB > 1.

D) bA < +1; bB > 0.

E) bA < 1; bB < 0.

F) None of the above (state your answer)