The risk$-$free rate, average returns, standard deviations and betas for three funds and the S&P$500$ are given below.

Fund Avg. Return Stand. Deviation Beta

A $18\%22\%0\mathrm{.}85$

B $25\%29\%1\mathrm{.}15$

C $19\%30\%1\mathrm{.}35$

S&P $50015\%20\%1$

Risk$-$free $4\%$

What is the T$2$ measure for Portfolio A$?$

What is the M$2$ measure for Portfolio B$?$

Use your M$-$squared answer from the previous question. If the M$-$squared measure for Portfolio C is $-1\%,$ then which portfolio performed better on a risk$-$adjusted basis?

a$.$ Portfolio B

b$.$ Portfolio C

c$.$ S&P $500$

d$.$ They both performed equally well

e$.$ None of the above