A pension fund manager is considering three mutual funds. The first is a stock fund, the second is a long-term bond fund, and the third is a money market fund that provides a safe return of 5%. The characteristics of the risky funds are as follows:


Expected Return Standard Deviation
Stock fund (S) 20 % 35 %
Bond fund (B) 11 15

The correlation between the fund returns is 0.09.

What is the Sharpe ratio of the best feasible CAL? (Do not round intermediate calculations. Enter your answer as a decimal rounded to 4 places.)