For the Italy data and Belgium data of Table, what is the ratio of the difference between

Question:

For the Italy data and Belgium data of Table, what is the ratio of the difference between the average variance minus average covariance and the average covariance? If the average variance of a single security is 50, what is the expected variance of a portfolio of 5, 20, and 100 securities?

United States ……………………. 73

United Kingdom ………………… 65.5

France …………………………….. 67.3

Germany ……………………. 56.2

Italy ……………………………. 60.0

Belgium ……………………. 80.0

Switzerland ……………………. 56.0

Netherlands ……………………. 76.1

International stocks …………… 89.3

Stocks
Stocks or shares are generally equity instruments that provide the largest source of raising funds in any public or private listed company's. The instruments are issued on a stock exchange from where a large number of general public who are willing... Portfolio
A portfolio is a grouping of financial assets such as stocks, bonds, commodities, currencies and cash equivalents, as well as their fund counterparts, including mutual, exchange-traded and closed funds. A portfolio can also consist of non-publicly...