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The covariance between a stock's return and broad market index returns is 480%. The stock has a standard deviation of 40%. The market index has a standard deviation of 20%.

Using these whole percentages, calculate the correlation coefficient between the stock and the market index. (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92827420

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