If you're comparing two portfolios with the same expected return, then you want the one with the lower variance.
比较两个有相同预期收益率的投资组合时,你会选择方差小的那一个。
If she drops out, Jean wins for sure, So the expected distance away from her of the winning candidate is two away.
如果她退出,吉恩就肯定获胜,预期获胜者与她之间,的距离是两个位置
But ultimately, everyone agrees I-- that's the premise here, that for the-- if you're comparing two portfolios with the same variance, then you want the one with the higher expected return.
但归根结底大家都会同意这一点-,这是一个前提-,当你比较两个有相同方差的投资组合时,你会选择预期收益率高的那一个。
On the vertical axis I'll put two vertical axes in, just for the sake of things on the vertical axis I'll put my expected payoffs.
坐标系的纵轴,由于种种原因,我花了两个纵轴,纵轴表示我的预期收益
The equally-weighted case that I gave a minute ago was one where the two assets had--were at the same-- had the same expected return and the same variance; but this is quite a bit more general.
我刚刚举的相同权重的例子,表示两种资产-,有相同的预期收益和相同的方差;,但这种情况更加普遍一些。
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