Corr. coeff = Covar(X,Y) / (std dev X * std dev Y)

= 480 / (40*20)

= 480 / 800

= 0.60

The covariance between a stock's return and broad market index returns is 480%. The stock has a standard deviation of 40%. The market index has a standard deviation of 20%.

Using these whole percentages, calculate the correlation coefficient between the stock and the market index.