You were short the spot asset and implemented a two period hedge using a hedge ratio of 1.2. Your per unit spot market profits were 4 and -8 in periods 1 and 2, respectively. The corresponding period 1 and 2 per unit futures price changes were -2 and 5, respectively. Determine your (actual) hedging effectiveness. Show your work. Was it a good hedge? Explain why or why not. Calculate the regression HR.