The intercountry correlation coefficients for share price indices between Australia and other countries are as follows: 
Which country is likely to offer the best diversification benefits for an Australian investor?
Definitions:
Relevant Range
The level of activity within which the assumptions about fixed and variable costs in cost-volume-profit analysis remain valid.
Contribution Margin Ratio
A financial metric that shows the percentage of sales revenue that exceeds variable costs, indicating the portion contributing to covering fixed costs and generating profit.
High-Low Method
A technique that uses the highest and lowest total costs as a basis for estimating the variable cost per unit and the fixed cost component of a mixed cost.
High-Low Method
A technique used in managerial accounting to estimate fixed and variable costs based on the highest and lowest levels of activity.
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