Consider the economic probabilities and returns with reference to these economic outcomes for the following stocks and equity market. The government issued treasury bill is trading at 9%.

Economy	Prob	Stock X	Stock Y	Stock Z	Market
Recession	12%	-12%	-2%	35%	-3%
Avg	15%	8%	30%	22%	5%
Above Avg	50%	18%	25%	6%	10%
Boom	23%	29%	19%	-3%	18%
Beta		2%	1%	-86%	1%

a) Calculate the Expected Return and Required Rate of Return for each stock and market. b) Calculate the Standalone risk of each stock and its Covariance. c) What would be the expected return and risk profile of portfolio with Stock X and Stock Y having weightage of 60% and 40% respectively. Correlation Coefficient (p) of X and Y is 0.38. d) What would be the expected return and risk profile of portfolio with Stock X and Stock Z having weightage of 30% and 70% respectively. Correlation Coefficient (p) of X and Z is -0.72.