请问课上说的资产配置偏离程度受资产类别影响,这句话什么意思?
王琛_品职助教 · 2021年08月21日
嗨,爱思考的PZer你好:
这句话是原版书 P89 第一段的总结,原文是 "The amount of deviation is also affected by the number of different asset classes in the portfolio"
引用原版书上的一段解释:如果组合中有10个资产类型,每个资产改变5%会导致大幅偏离风险资产;但是如果组合中共有4个资产类型,每个资产改变5%造成的影响并不大。这是因为资产类型多,每个资产的占比就会下降,同样改变5%,对占比小的资产影响大。
The amount of change appropriate to modify an allocation will in large part depend on the number of asset classes used in the allocation. A 5 percent change in 10 asset classes, for example, could yield a substantial tilt to or away from risky assets; however, for an asset allocation with 4 asset classes, 5 percent would not be enough.
----------------------------------------------虽然现在很辛苦,但努力过的感觉真的很好,加油!