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Ben purchased 100 shares of stock from the Frankfurt (Germany) Stock Exchange at a price of €52 per share when the exchange rate was €1 = $1.30. He sold the shares less than a year later at a price of €63 per share when the exchange rate was €1 = $1.39. While he was holding the shares, he received €2 per share in dividends.
a. Find Ben’s total holding period return in U.S. dollars, rounded to the nearest percent. Show work.
b. Show how the total return found in part (a) breaks down into its components. In other words, find the return earned on the stock in local currency; then find the return from changes in currency exchange rates.
A bond that matures in 9 years sells for $950. The bond has a face value of $1,000 and a yield to maturity of 9.8764%. The bond pays coupons semi annually. What is the bond's current yield?
The covariance of the returns between Willow stock and Sky stock is 0.0740. The variance of Willow is 0.1310 and the variance of sky diamond is 0.1130. What is the correlation coefficient between the returns of the two stocks?
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