Below is the monthly share price data for Afterpay Limited (ASX code APT. AX) for 2020 (Source: https://finance. yahoo. com)

Month Open $ Close $
Jan 29.28 38.55
Feb 37.57 33.17
Mar 32.18 18.80
Apr 19.85 31.20
May 29.75 47.41
June 46.53 60.99
July 60.49 68.54
Aug 68.50 91.44
Sep 89.80 79.99
Oct 81.85 96.69
Nov 96.50 95.01
Dec 95.80 118.00

Afterpay Limited did not pay any dividend in 2020.

a. Calculate the monthly percentage returns for APT for 2020. (Show all calculations, show
answers as percentage correct to two decimal places.)
b. Calculate the risk measured by the standard deviation for APT. (Show all calculations, show
answer as a percentage correct to two decimal places.)
c. If the standard deviation for the market is 8.02%, how does this compare with APT’s standard
deviation calculated in part b? Explain your conclusions.