Here are the returns on two stocks. Digital Cheese Executive Fruit January +17 +6 February −4 +1 March +6 +5 April +8 +15 May −5 +2 June +4 +4 July −3 −4 August −9 −3 a-1. Calculate the variance and standard deviation of each stock. (Do not round intermediate calculations. Round your answers to 2 decimal places.) a-2. Which stock is the riskier if held on its own? Digital Cheese Executive Fruit b. Now calculate the returns in each month of a portfolio that invests an equal amount each month in the two stocks. (Negative amounts should be indicated by a minus sign. Do not round intermediate calculations. Round your answers to 2 decimal places.) c. Is the standard deviation more or less than half way between the variance of the two individual stocks? Less More Reference links 11.4 Risk and Diversification