Based on the previous results, we can say that, as we include more
0 {0 Z1 ?4 R: i' [; C( fand more assets into our portfolio, the ”variance risk” can be- ^/ X3 Z( ?- ?* s; x& ?* y9 ^
diversified away, whereas the ”covariance risk” cannot.
7 f& U! x$ w9 r4 a, H. `; a" d; PIn practice, we also observe similar results. As we include more
2 K" r- o* w& o2 [ d. k; I1 dassets in our portfolio, the portfolio return variance firstly1 g# K/ n2 d% `
decreases, and then approach to a particular level, and will not% V T1 |6 u$ S1 m
reach zero.
+ |# y3 S& Y" d' o2 ^/ k2 b |
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发表于 2019-3-2 23:12:49
照妖镜