Required:

Calculate the average returns for the S&P $500$ stock index, high$-$grade corporate bonds, and U$.$S$.$ Treasury bonds from $1928$ to $2020.$ Which has the highest return?

Calculate the standard deviation of returns to the S&P $500$ stock index, high$-$grade corporate bonds, and U$.$S$.$ Treasury bonds from $1928$ to $2020.$ Which has the highest standard deviation of returns? $($Hint: Use the STDEV.S Excel function for each index. STDEV.S calculates the standard deviation for a sample.$)$

Generally we expect that the higher the risk, the greater the expected return. Which of these three investments has the highest risk $($measured here as standard deviation of returns$),$ and which has the greatest return?