You are provided a correlation coefficient matrix for the 7 major world stock exchanges (monthly observations, 1991-2021) as follows:

	Brazil	Canada	Germany	Japan	France	U.K.	U.S.	E(R), %	Var (R)
Brazil	1							1.6	16.3
Canada	0.24	1						1.2	9.6
Germany	0.12	0.34	1					0.8	5.5
Japan	0.13	0.42	0.42	1				1.1	12.5
France	0.06	0.53	0.88	0.52	1			0.2	10.3
U.K.	0.17	0.62	0.61	0.49	0.62	1		0.7	9.5
U.S.	-0.12	0.87	0.72	0.34	0.59	0.67	1	0.5	8.6

1. If you are an aggressive investor as a risk lover, which market will you invest at most likely? Explain why
2. According to the above data, the U.S. stock market dominates one other market. So you would avoid that market most likely. Which stock market is it? Explain why
3. Which stock market do you think is the most segregated (or least internationally integrated) market, according to the above data? Explain why
4. Which pair of markets tends to move in the same direction most probably? Explain why
5. From the US investors perspective, which foreign market do you think provide the best opportunity for the maximum gain from international portfolio diversification? Explain why