You currently have 60% invested in Johnson and Johnson and the remainder invested in Paypal. Johnson and Johnson, Paypal, and the S&P 500 had the following realized returns:
Date Johnson and Johnson Returns Paypal Returns S&P 500 Returns
July 2016 3% 2% 4%
August 2016 -4% 0% 0%
September 2016 -1% 10% 0%
October 2016 -2% 2% -2%
What is the beta of this portfolio? Your answer should be rounded to the nearest hundredth and entered as a numeric value. (Rounding Examples: 1.004 would be rounded to 1.00; 1.005 would be rounded to 1.01)