Portfolio Theory
摘要
Portfolio Theory considers the trade-off between some measure of risk and some measure of return on the portfolio-as-a-whole. The measures used most frequently in practice are expected (or mean) return and variance or, equivalently, standard deviation. This article discusses the justification for the use of mean and variance, sources of data needed in a mean-variance analysis, how mean-variance tradeoff curves are computed, and semi-variance as an alternative to variance.