CFA level I 投资组合
2018-09-26 本文已影响0人
MrKingjyk
- The key difference between a wrap account and a mutual fund is that in a wrap account, the assets are owned directly by the individual.
包管账户与共同基金的主要区别在于，在包管账户中，资产是由个人直接拥有的。 - In general, adding assets classes with low correlation improves the risk–return trade-off as long as the stand-alone risk of the added asset class does not exceed its diversification effect.
一般而言，只要增加的资产类别的独立风险不超过其多样化效应，增加相关性较低的资产类别可以改善风险-收益权衡。 - For an investor who holds a fully diversified portfolio, the Treynor ratio and Jensen’s alpha are the appropriate portfolio performance measures. They are appropriate because in a fully diversified portfolio, only systematic risk matters; both these metrics measure performance relative to beta or systematic risk.
对于持有完全多元化投资组合的投资者来说，Treynor比率和Jensen 's alpha是合适的投资组合绩效指标。它们之所以合适，是因为在一个完全多元化的投资组合中，只有系统性风险才是重要的;这两个指标都是相对于beta或系统风险来衡量性能的。 - 期望收益>CAPM收益，资产被低估；期望收益<CAPM收益，资产被高估
