please provide the formula used step by step, thanks.

Question 2 Patrick Poh is a Singapore equities fund manager and manages a fund with total assets worth S$100 million. He adopts an enhanced indexing strategy and hopes to deliver excess return above the STI index return. He is considering the inclusion of a utilities stock, Gas Stop, into his portfolio. He has compiled the following information: Expected return Standard deviation Beta Risk-free rate Current Portfolio 10% 14% 1.1 2% STI Index 8% 16% 1 2% Gas Stop 12% 29% 0.7 2% (a) Evaluate the covariance and correlation coefficient of Gas Stop with the market