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You invest 40% of your money in Stock Y and the rest in Stock Z. The standard deviation of Stock Y's annual returns is 55%

You invest 40% of your money in Stock Y and the rest in Stock Z. The standard deviation of Stock Y's annual returns is 55% and the standard deviation of Stock Z's annual returns is 47%. The return correlation between the two stocks is -0.7. By how many percentage points did diversification reduce your risk in this case?

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