Correlation, risk, and return The following table provides monthly stock returns for Snap Inc. (SNAP), Twitter, Inc. (TWTR), UnitedHealth Group Incorporated (UNH), and General Dynamics Corporation (GD).

a. Calculate the correlation between the SNAP and TWTR monthly returns.

b. Calculate the correlation between the UNH and GD monthly returns.

c. Compare the correlations you calculated in parts a and b.

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Month May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 SNAP 6.7% 20.3 17.5 -5.8 -0.2 -4.7 1.3 7.1 12.6 -22.9 -16.1 48.1 -4.8 Monthly stock returns TWTR -8.7% -4.2 21.2 0.8 -3.4 -27.3 3.1 3.7 1.3 2.2 -26.0 16.8 -1.9 UNH 5.2% -15.1 2.2 6.9 7.5 -4.8 -9.7 -14.4 7.7 6.4 -2.4 -0.9 -3.6 GD -9.5% 13.1 2.3 3.4 -4.5 -3.2 3.4 -3.0 -0.5 -8.5 -17.1 -1.3 1.5