Question: PPlease use formulas instead of excel to solve this question 10. The following table shows the returns achieved in different states of economy for stocks

PPlease use formulas instead of excel to solve this question

10. The following table shows the returns achieved in different states of economy for stocks A and B. What is the covariance between returns of stock A and B? State of Economy Boom Good Recession Probability of the state occurring 40% 25% 35% Returna (%) 12 3 -5 Returns (%) 10 2 -3 A. - 0.0023 B. 0.0023 C. 0.0041 D. 0.0045

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