You have been provided with the yearly equity return for USA, Australia, Canada and Japan

Table 2.1: Annual Returns

Year	USA	Australia	Canada	Japan
2017	0.04	0.03	0.03	0.04
2018	0.06	0.05	0.09	-0.02
2019	-0.03	-0.02	-0.05	0.07
2020	0.01	0.02	0.02	-0.02
2021	0.04	0.05	0.08	0.02
2022	-0.05	-0.03	-0.06	0.06

Using the data provided in Table 2.1, you are required to answer the following:

(i) Produce the Variance-covariance matrix for the four markets. The variance-covariance matrix is expected to be generated using Microsoft Excel.

(ii) Using the variance covariance matrix presented in Part a (i) above, identify the variance of returns for each market and highlight them in bold.

(iii) Generate the correlation coefficient figures for the pairs of markets.