Answer: 0.3

## Explanation Since the image does not provide the actual data or the correct answer, I'll explain how to calculate Spearman's rank correlation coefficient: **Spearman's Rank Correlation Coefficient (ρ)** measures the strength and direction of association between two ranked variables. It's calculated as: \[ \rho = 1 - \frac{6 \sum d_i^2}{n(n^2 - 1)} \] Where: - \( d_i \) = difference between the two ranks of each observation - \( n \) = number of observations **Interpretation:** - ρ = +1: Perfect positive correlation - ρ = -1: Perfect negative correlation - ρ = 0: No correlation **Steps to calculate:** 1. Rank the returns for both stocks X and Y separately 2. Calculate the difference between ranks for each pair 3. Square these differences 4. Sum the squared differences 5. Apply the formula Without the actual data, I cannot determine the exact value, but the question appears to be testing understanding of rank correlation concepts.

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