Choose the correct statement regarding diversification:

A$)$ A portfolio of $4$ randomly selected stocks should eliminate most of the market risk.

B$)$ A portfolio of $4$ randomly selected stocks should eliminate most of the firm$-$specific $($stand$-$alone$)$ risk

C$)$ A portfolio of $75$ randomly selected stocks should eliminate most of the market risk

D$)$ A portfolio of $75$ randomly selected stocks should eliminate most of the firm$-$specific $($stand$-$alone$)$ risk