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Consider the following information concerning three portfolios, the market portfolio, and the risk-free asset: ...

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Finance

Consider the following information concerning three portfolios, the market portfolio, and the risk-free asset:

Portfolio RP P P
X 14.0 % 31 % 1.35
Y 13.0 26 1.10
Z 7.0 14 .75
Market 10.2 19 1.00
Risk-free 6.0 0 0

Assume that the correlation of returns on Portfolio Y to returns on the market is .62. What is the percentage of Portfolio Ys return that is driven by the market? (Enter your answer as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

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