1. Measuring stand-alone risk using realized (historical) data Returns earned over a given time period are called realized returns. Histoncal data on realized returns is often used to estimate future reso Analysts across companies use realized stock retums to estimate the risk of a stock. Consider the case of Celestial Crane Cosmetics Inc. (CCC): Five years of realized returns for CCC are given in the following table. Remember: 1. While CCC was started 40 years ago, its common stock has been publicly traded for the past 25 years. 2. The returns on its equity are calculated as arithmetic returns. 3. The historical returns for CCC for 2014 to 2018 are: Given the preceding data, the average realized return on ccc's stock is The preceding data series represents historical returns is of CCC's histonical returns. Based on this conclusion, the standard deviation of CCC; If investors expect the average realzed return from 2014 to 2018 on CCC's stock to continue into the future, its coefficient of voriation (CV) will be