The volatility of Woolworth's share price is 30% and that of Reckon's shares is 30%. When I hold both shares in my portfolio and the returns have a correlation of 1, the overall volatility of returns of the portfolio is:

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When the returns of two assets have a correlation of 1, it means they move perfectly in sync with each other. Therefore, holding both shares in a portfolio would not diversify away any risk, and the overall volatility of the portfolio would remain unchanged at 30%.

The Volatility of Woolworth's Share Price Is 30% and That