Solutions to Chapter 1

Market return(%) Average return on Tumblehome(%) (2 (3.0 (1 (1.5. 0 0.0. 1 1.5. 2 3.0. 11. a. Beta is the responsiveness of each stock’s return to changes in the market return. Then: Stock D is considered a more defensive stock than Stock A because the return of Stock D is less sensitive to the return of the overall market. ................
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