A market risk manager is assessing the performance of VTFX, a large-cap growth mutual fund. This fund is benchmarked against the MSCI World Large Cap Growth Index (MWG). To analyze the relationship, the manager performs a regression analysis using VTFX's monthly returns as the dependent variable and MWG's monthly returns as the independent (explanatory) variable. The details of the regression model and the outcomes are summarized in the table below:

Coefficient	Estimate	Standard Error
β0 (Intercept)	-0.0178	0.0139
β1 (Slope)	1.2631	0.0428

The results of the variation analysis are provided below:

Source of Variation	Sum of Squares	Explained	Residual
Total		0.0527	0.0091

Given a 95% confidence level, which of the following statements would be correct for the manager to conclude?