61 quarterly return data is provided for three assets: US Equities and Portfolio are provided in Excel file "Quiz 2.xlsx" tab "MV". Calculate the active risk and active returns using the difference method only. The active return and active risk are:

No correct choice (answer) is provided

-0.04% and 2.48% per quarter

1.67% and 9.75% per quarter

Not enough information is provided to calculate the correct answer.

1.71% and 9.24% per quarter

Quarter EM EAFE US Portfolio 1 -0.64 4.16 7.67 5.306 2 -1.36 4.05 5.67 3.937 3 6.04 2.92 6.44 5.657 4 4.10 1.64 3.74 3.394 5 -3.69 -0.05 2.27 0.615 6 -0.59 1.65 7.28 4.579 7 8.13 -1.51 1.13 2.004 8 8.21 12.27 15.84 13.602 9 -9.40 -0.64 8.96 3.369 10 -19.26 -8.08 1.66 -4.470 11 6.01 13.79 12.88 11.685 12 -26.92 1.12 2.35 -3.751 13 -24.86 -15.26 -16.28 -17.790 14 16.54 18.85 22.68 20.686 15 11.72 1.45 3.83 4.932 1 16 21.83 2.58 7.53 9.397 17 -5.29 4.36 -7.53 -4.701 18 22.67 15.75 14.24 16.229 19 2.39 4.89 3.404 -0.05 -3.98 20 -10.72 -2.01 -4.145 -4.915 21 -13.93 -8.35 -0.77 22 -14.39 -2.65 -8.96 -8.785 23 -7.10 -15.51 -14.47 -13.205 24 5.82 0.80 8.81 6.611 25 -25.05 -16.66 -18.01 -19.149 26 24.04 7.54 11.50 13.217 27 10.46 1.01 0.90 2.835 28 -8.73 -2.23 -16.35 -12.001 29 -16.40 -21.95 -12.95 -15.439 30 8.51 6.14 4.13 5.411 31 -5.52 -7.55 -1.93 -3.769 32 21.67 16.80 14.63 16.474 33 13.13 9.89 4.81 7.493 34 15.41 13.91 9.53 11.578 35 9.88 5.60 2.84 4.800 36 -10.50 -0.86 -0.39 -2.508 37 9.13 1.08 0.70 2.460 38 14.52 12.58 7.17 9.722 39 3.23 0.50 -1.85 -0.365 40 3.37 -1.37 3.16 2.295 41 16.10 9.81 3.59 7.334 42 7.05 4.82 2.02 3.588 43 13.10 9.90 5.26 7.758 44 -4.59 0.33 -1.31 -1.636 45 3.68 4.13 3.36 3.582 46 15.90 9.18 7.27 9.382 47 2.21 4.28 1.54 2.219 48 15.39 6.97 6.45 8.343 49 13.39 2.07 1.82 4.181 50 2.53 -2.31 -4.79 -2.833 51 -10.76 -8.32 -6.55 -7.747 52 -3.35 -4.53 -4.83 -4.471 53 -29.67 -20.31 -10.05 -16.027 54 -31.94 -23.16 -25.26 -26.177 55 2.70 -13.50 -9.80 -8.041 56 29.56 23.01 14.49 19.207 57 17.26 14.58 11.80 13.449 58 8.51 4.02 8.46 7.584 59 4.11 2.12 6.54 5.172 60 -11.29 -16.72 -13.17 -13.501 61 18.61 16.48 11.73 14.058 Quarter EM EAFE US Portfolio 1 -0.64 4.16 7.67 5.306 2 -1.36 4.05 5.67 3.937 3 6.04 2.92 6.44 5.657 4 4.10 1.64 3.74 3.394 5 -3.69 -0.05 2.27 0.615 6 -0.59 1.65 7.28 4.579 7 8.13 -1.51 1.13 2.004 8 8.21 12.27 15.84 13.602 9 -9.40 -0.64 8.96 3.369 10 -19.26 -8.08 1.66 -4.470 11 6.01 13.79 12.88 11.685 12 -26.92 1.12 2.35 -3.751 13 -24.86 -15.26 -16.28 -17.790 14 16.54 18.85 22.68 20.686 15 11.72 1.45 3.83 4.932 1 16 21.83 2.58 7.53 9.397 17 -5.29 4.36 -7.53 -4.701 18 22.67 15.75 14.24 16.229 19 2.39 4.89 3.404 -0.05 -3.98 20 -10.72 -2.01 -4.145 -4.915 21 -13.93 -8.35 -0.77 22 -14.39 -2.65 -8.96 -8.785 23 -7.10 -15.51 -14.47 -13.205 24 5.82 0.80 8.81 6.611 25 -25.05 -16.66 -18.01 -19.149 26 24.04 7.54 11.50 13.217 27 10.46 1.01 0.90 2.835 28 -8.73 -2.23 -16.35 -12.001 29 -16.40 -21.95 -12.95 -15.439 30 8.51 6.14 4.13 5.411 31 -5.52 -7.55 -1.93 -3.769 32 21.67 16.80 14.63 16.474 33 13.13 9.89 4.81 7.493 34 15.41 13.91 9.53 11.578 35 9.88 5.60 2.84 4.800 36 -10.50 -0.86 -0.39 -2.508 37 9.13 1.08 0.70 2.460 38 14.52 12.58 7.17 9.722 39 3.23 0.50 -1.85 -0.365 40 3.37 -1.37 3.16 2.295 41 16.10 9.81 3.59 7.334 42 7.05 4.82 2.02 3.588 43 13.10 9.90 5.26 7.758 44 -4.59 0.33 -1.31 -1.636 45 3.68 4.13 3.36 3.582 46 15.90 9.18 7.27 9.382 47 2.21 4.28 1.54 2.219 48 15.39 6.97 6.45 8.343 49 13.39 2.07 1.82 4.181 50 2.53 -2.31 -4.79 -2.833 51 -10.76 -8.32 -6.55 -7.747 52 -3.35 -4.53 -4.83 -4.471 53 -29.67 -20.31 -10.05 -16.027 54 -31.94 -23.16 -25.26 -26.177 55 2.70 -13.50 -9.80 -8.041 56 29.56 23.01 14.49 19.207 57 17.26 14.58 11.80 13.449 58 8.51 4.02 8.46 7.584 59 4.11 2.12 6.54 5.172 60 -11.29 -16.72 -13.17 -13.501 61 18.61 16.48 11.73 14.058