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An analyst provided data for two assets, Asset A and Asset B, including their current daily volatilities, prior and current daily closing prices, coefficient of correlation between the returns of these two assets, the covariance, and the parameter lambda used in the EWMA model. With today's closing prices at R 55 and R 35 for Asset A and Asset B respectively, the new covariance estimate between the two assets is 0.0000120. Additionally, the new variance estimates for Asset A and Asset B are 0.0000392 and 0.0000189, respectively. The analyst now seeks an update on the correlation estimate between the two assets, considering the current trading prices of these assets. Calculate the revised correlation estimate between the assets.
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