The Random Walk Theory of Stock Prices States That Price

The random walk theory of stock prices states that price movements in disjoint time periods are independent of each other.The probability that the value of a portfolio of stocks invested in companies listed on the TSE300 rises in any one year is 0.60.What is the probability that the portfolio's value moves in the same direction in both of the next 2 years?

A) 0.06
B) 0.36
C) 0.52
D) 0.96