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Assume you wish to evaluate the risk and return behaviorsassociated with various combinations of assets V and W under threeassumed degrees of? correlation: perfect? positive, uncorrelated,and perfect negative. The following average return and risk valueswere calculated for these? assets:Asset Average Return, {r}} Risk (StandardDeviation), sV 7.6% 4.7%W 13.2% 9.4%a. If the returns of assets V and W are perfectly positivelycorrelated? (correlation coefficient equals plus 1 ?), describe therange of? (1) return and? (2) risk associated with all possibleportfolio combinations.?(1) Range of expected? return: between % and % ?(Round to onedecimal? place.)?(2) Range of the? risk: between % and % ?(Round to one decimal?place.)b. If the returns of assets V and W are uncorrelated? (correlationcoefficient equals 0 ?), describe the approximate range of ?(1?)return and? (2) risk associated with all possible portfoliocombinations.?(1) Range of expected? return: between % and % ?(Round to onedecimal? place.)?(2) Range of the? risk: between % and % ?(Round to one decimal?place.)c. If the returns of assets V and W are perfectly negativelycorrelated? (correlation coefficient equals negative 1 ?), describethe range of? (1) return and? (2) risk associated with all possibleportfolio combinations.?(1) Range of expected? return: between % and % ?(Round to onedecimal? place.)?(2) Range of the? risk: between % and % ?(Round to one decimal?place.)