Problem 7-17 Portfolio risk

The table below shows standard deviations and correlation coefficients for eight stocks from different countries. Calculate the variance of a portfolio with equal investments in each stock. (Use decimals, not percents, in your calculations. Do not round intermediate calculations. Round your answer to 5 decimal places.)

	BHP	BP	Fiat Chrysler	Heineken	Korea Electric	Nestl	Sony	Tata Motors
BHP	1.00	.33	.42	.36	.20	.36	.14	.35
BP	.33	1.00	.35	.20	.14	.32	.12	.18
Fiat	.42	.35	1.00	.08	.09	.01	.35	.06
Heineken	.36	.20	.08	1.00	.26	.53	.28	.35
Korea Electric	.20	.14	.09	.26	1.00	.25	.25	.04
Nestl	.36	.32	.01	.53	.25	1.00	.26	.01
Sony	.14	.12	.35	.28	.25	.26	1.00	.10
Tata Motors	.35	.18	.06	.35	.04	.01	.10	1.00
Standard deviation (%)	28.80	38.10	52.06	27.04	36.83	18.70	53.84	48.11

Portfolio variance

**This is all the information I was given to complete this problem.**