With the information below, please answer who is has the best portfolio?

Assets	A	B	C
Ben	200	1200	600
John	400	100	500
Mike	200	250	50

Ben had a portfolio worth 2000.

John portfolio was worth 1000

Mike was only worth 500.

Correlations between assets

A and B was -0.20

A and C was +0.20

B and C was +0.50

Ben Portfolio

A = 10% (weight of portfolio)

• Expected return = 20%
• Standard Deviation = 40%

B = 60% (weight of portfolio)

• Expected return = 16%
• Standard Deviation = 30%

C = 30% (weight of portfolio)

• Expected return = 10%
• Standard Deviation= 20%

Johns Portfolio

A = 40% (weight of portfolio)

• Expected return = 20%
• Standard Deviation = 40%

B = 10% (weight of portfolio)

• Expected return = 16%
• Standard Deviation = 30%

C = 50% (weight of portfolio)

• Expected return = 10%
• Standard Deviation= 20%

Mikes Portfolio

A = 40% (weight of portfolio)

• Expected return = 20%
• Standard Deviation = 40%

B = 50% (weight of portfolio)

• Expected return = 16%
• Standard Deviation = 30%

C = 10% (weight of portfolio)

• Expected return = 10%
• Standard Deviation= 20%

With the information above, who has the best portfolio? Please describe the equations you used to calculate each.