Securitization, and How We Can Fund the Cure for Cancer

Thank you so much for this really instructive video. I was getting hard time computing the standard deviation of these cash flows until I took a look to the Excel spreadsheet and that was really helpfull. Thank you having reproduce the calculations and giving access to your file.
I have two questions if I may:
1. How would you compute the standard deviation on the basis of % change of annual cash flows (returns) instead of calculating it on the basis of these cash flows as done in the spreadsheet, and should this standard deviation be equal to the one currently estimated (i.e. 423.5%)?
2. In the second part of his study, Professor Andrew W. Lo introduced the hypothesis of correlation between projects and compute the new probabilities of success for different correlation figures. Would it be possible to show these computations on the spreadsheet as I didn't find much help on probability calculation of correlated event despite several research on the Internet?
Thank you very much for your help.
Best regards