Our first analysis involves the relationships between the standard measures of risk and return and the perception of risk, measured either by the Srisk or by SWrisk, as well as the perception of return, measured by Sreturn. For each participant we calculated the correlations of Srisk, SWrisk and Sreturn with the Expected Value of the investment (EV), and the loss associated with the investment (Loss), across the 8 investments he or she rated. The average correlations and their standard errors are given in Table 2.