Question: Show that the variance-minimizing portfolio weights are 1 when weights are constrained to sum to one and volatilities across assets and correlations are the same

Show that the variance-minimizing portfolio weights are 1 when weights are constrained to sum to one and volatilities across assets and correlations are the same across all asset pairs. Formally, = = and , = ,. Derive an expression for the variance of the minimum variance portfolio as a function of and . Is it reasonable to from an economics perspective to assume that , = 0 ,? Why or why not?

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