Which One of the Following Is a Correct Statement Concerning

Which one of the following is a correct statement concerning the excess return?

A) The greater the volatility of returns,the greater the expected excess return.
B) The lower the volatility of returns,the greater the expected excess return.
C) The lower the average rate of return,the greater the excess return.
D) The excess return is not correlated to the average rate of return.
E) The excess return is not affected by the volatility of returns.