Question: Consider both the CAPM formula and weighted average portfolio beta calculations. Which of the following is correct for an asset with a negative beta? Negative

Consider both the CAPM formula and weighted average portfolio beta calculations. Which of the following is correct for an asset with a negative beta?
Negative beta assets are expected to return less than the riskless rate when the risk premium is positive.
II. A negative beta asset can be combined with a positive beta asset to produce a zero beta portfolio.
III. Negative beta assets do not provide any diversification benefits.
I only.
I and II.
II and III.
I, II and III.
Consider both the CAPM formula and weighted

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