Use the following data to answer the question regarding the performance of Guardian Stock Fund and the market portfolio. The risk-free return during the sample period was 5%.
Guardian Market Portfolio
Average return 14 % 10 %
Standard deviation of returns 26 % 21 %
Beta 1.2 1 Residual standard deviation 4 % 0 %
Calculate the information ratio measure of performance for Guardian Stock Fund. (Round your answer to 2 decimal places. Do not round intermediate calculations.)