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Two strategies each have a Sharpe ratio of $1$ and the same volatility, and their returns have correlation $0.5$ . What is the Sharpe ratio of an equal-weighted combination? Give a decimal to three places.

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Two strategies each have a Sharpe ratio of 111 and the same volatility, and their returns have correlation 0.50.50.5. What is the Sharpe ratio of an equal-weighted combination? Give a decimal to three places.

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Two strategies each have a Sharpe ratio of $1$ and the same volatility, and their returns have correlation $0.5$ . What is the Sharpe ratio of an equal-weighted combination? Give a decimal to three places.