Modern portfolio theory

Modern portfolio theory

 

基本思想就是分散投资，将投资风险最小化。

这个理论有两种应用方法：第一，给定风险，得到最大化收益的投资；第二，给定收益等级，得到风险最小的投资。

在所选组合负相关时，显然可以降低风险，而它的强大之处在于，所选的投资组合即使是正相关依然可以降低风险

 

Modern portfolio theory (MPT) is a theory of investment which attempts to maximize portfolio expected return for a given amount of portfolio risk, or equivalently minimize risk for a given level of expected return, by carefully choosing the proportions of various assets.

For example, to the extent prices in the stock market move differently from prices in the bond market, a collection of both types of assets can in theory face lower overall risk than either individually. But diversification lowers risk even if assets' returns are not negatively correlated—indeed, even if they are positively correlated.

 

 

参考：

1.http://en.wikipedia.org/wiki/Modern_portfolio_theory