代写留学生论文

  • Diversification
  • Hedging (through derivatives).

Diversification is guided by the principle that “Do not put all your eggs in one basket”. In other words, diversification implies that any investor should not limit their exposure to one business or invest all funds into one particular asset class. The funds and exposure should be apportioned amongst different asset classes which display low correlation between their returns. This would help to minimize the aggregate risk exposure of the portfolio and the business subject to the constraints. As an example, in investment theory, an aggressive stock (with beta greater than one) can be combined with a defensive stock (with beta less than one) to create a two asset portfolio whose cash flow variability is less than that of the individual securities. Diversification helps to eliminate the unsystematic risk of the investment and leads to the total risk of the portfolio to the systematic risk that is non diversifiable. As the number of stocks in the portfolio increases, which exhibit low correlation between their returns, the beta of the portfolio (which is the weighted beta of the individual assets and their respective percentage weights in the portfolio) approaches unity and the expected return of the portfolio becomes the expected market return as the beta of both tend to be equal to unity.

 

代写留学生论文 

多样化

•套期保值(通过衍生物)。

多元化是遵循的原则:“不要把所有的鸡蛋都放在一个篮子里”。换句话说,多样化意味着,投资者不应限制其暴露于一个企业或投资的资金为一个特定的资产类别。资金和曝光应分摊在不同资产类别之间的相关性较低,显示他们的回报。这将有助于降低投资组合的风险和经营主体的限制。作为一个例子,在投资理论,积极的股票(β大于1)可以结合一个防守型股票(β小于1)创造了一二的资产组合的现金流量变化是小于的个别证券。多样化有助于消除投资的非系统性风险,导致投资组合的总风险的系统性风险是不可分散的。作为投资组合中股票数量增加,表现出他们之间的相关性较低的回报,投资组合的β(这是在投资组合的个人资产和各自的百分比加权β)方法的统一性和投资组合的预期回报率,成为市场预期回报率的测试往往是等于1。

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