The possible outcomes for the returns on Stock X and the returnson the market portfolio have been estimated asfollows:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
                       Scenario         Stock X           Marketportfolio                                Â
                       1                    9%                 10%                            Â
                       2                    21%               13%                            Â
                       3                    13%               11%                 Â
Each scenario is considered to be equally likely to occur.Calculate the covariance of the returns of Stock X and the marketportfolio.
A) 0.03%
B) 0.57%
C)1.62%Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
D) 0.06%
