Given the following 7 stock prices for the past 9 years build the optimal equal-weighted two...

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Given the following 7 stock prices for the past 9 years build the optimal equal-weighted two stock portfolio that minimizes the exposure to independent risk. Stock 2012 2013 2014 2015 BUD 61.48 88.28 INDT 26.93 27.55 TBNK 20.05 23.19 SMG 47.61 44.78 62.08 103.67 112.30 33.94 30.56 23.20 21.58 62.52 PHG 21.30 27.06 36.57 29.17 UTI 13.07 10.18 13.91 9.90 45.43 45.02 58.93 59.51 2016 2017 2018 2019 2020 122.58 104.78 111.97 65.15 82.76 26.02 30.18 36.66 33.35 39.57 27.59 33.12 31.67 25.89 30.95 63.93 96.29 108.82 60.54 106.51 24.77 30.08 37.88 34.76 49.39 3.81 2.90 2.35 62.90 90.35 86.43 3.73 7.71 66.55 77.09 Covariance table: BUD INDT TBNK SMG PHG UTI BOH BUD 1 0.00935 INDT 1 0.018443 0.001613 TBNK 1 0.034824 0.025953 -0.01013 0.010048 0.037076 0.029278 0.030207 0.029894 0.008901 0.016461 -0.01939 0.016269 SMG 1 0.054558 0.058301 0.055783 PHG 1 0.057158 0.021312 UTI 1 -0.00312 BOH 1 Given the following 7 stock prices for the past 9 years build the optimal equal-weighted two stock portfolio that minimizes the exposure to independent risk. Stock 2012 2013 2014 2015 BUD 61.48 88.28 INDT 26.93 27.55 TBNK 20.05 23.19 SMG 47.61 44.78 62.08 103.67 112.30 33.94 30.56 23.20 21.58 62.52 PHG 21.30 27.06 36.57 29.17 UTI 13.07 10.18 13.91 9.90 45.43 45.02 58.93 59.51 2016 2017 2018 2019 2020 122.58 104.78 111.97 65.15 82.76 26.02 30.18 36.66 33.35 39.57 27.59 33.12 31.67 25.89 30.95 63.93 96.29 108.82 60.54 106.51 24.77 30.08 37.88 34.76 49.39 3.81 2.90 2.35 62.90 90.35 86.43 3.73 7.71 66.55 77.09 Covariance table: BUD INDT TBNK SMG PHG UTI BOH BUD 1 0.00935 INDT 1 0.018443 0.001613 TBNK 1 0.034824 0.025953 -0.01013 0.010048 0.037076 0.029278 0.030207 0.029894 0.008901 0.016461 -0.01939 0.016269 SMG 1 0.054558 0.058301 0.055783 PHG 1 0.057158 0.021312 UTI 1 -0.00312 BOH 1