with a standard deviation of $2\mathrm{.}13\%.+$ The publication also reported that the correlation between the S&P $500$ and core bonds is $-0\mathrm{.}32.$

$-0\mathrm{.}04.($Past performance is no guarantee of future results.$)$

S&P $500$ and REITs $,333\mathrm{.}4858$

core bonds and REITs $-1\mathrm{.}9741$

expected return $,\%($Round to $3$ decimal places$)$

standard deviation $\%($Round to $2$ decimal places$)$

expected return

$\backslash$times $\%($Round to $3$ decimal places$)$

standard deviation $\%($Round to $2$ decimal places$)$

expected return

$\%($Round to $3$ decimal places$)$

standard deviation

$\%($Round to $2$ decimal places$)$

$($e$)$ Which of the portfolios in parts $($b$),($c$),$ and $($d$)$ would you recommend to an aggressive investor? Why?

Which would you recommend to a conservative investor? Why?

The portfolio consisting of

is recommended to the conservative investor because of its moderate return and