翻訳と辞書 Words near each other ・ Mutual exchange ・ Mutual exclusion ・ Mutual exclusivity ・ Mutual exclusivity (psychology) ・ Mutual Feeling ・ Mutual Film ・ Mutual Film Company ・ Mutual Film Corp. v. Industrial Commission of Ohio ・ Mutual Friends ・ Mutual Friends (album) ・ Mutual Friends (film) ・ Mutual fund ・ Mutual Fund Dealers Association ・ Mutual Fund Directors Forum ・ Mutual fund fees and expenses ・ Mutual fund separation theorem ・ Mutual fund trust ・ Mutual funds in India ・ Mutual Gains Approach ・ Mutual gains bargaining ・ Mutual Ice Company Building ・ Mutual Improvement Association ・ Mutual induction shaft mechanism ・ Mutual information ・ Mutual insurance ・ Mutual intelligibility ・ Mutual knowledge (logic) ・ Mutual legal assistance treaty ・ Mutual liberty ・ Mutual Life & Citizens Assurance Company Building Dictionary Lists mini英和辞書 mini和英辞書 Webster 1913 Latin-English FOLDOC Wikipedia English ウィキペディア

翻訳と辞書　辞書検索 [ 開発暫定版 ] スポンサード リンク Mutual fund separation theorem ： ウィキペディア英語版 Mutual fund separation theorem In portfolio theory, a mutual fund separation theorem, mutual fund theorem, or separation theorem is a theorem stating that, under certain conditions, any investor's optimal portfolio can be constructed by holding each of certain mutual funds in appropriate ratios, where the number of mutual funds is smaller than the number of individual assets in the portfolio. Here a mutual fund refers to any specified benchmark portfolio of the available assets. There are two advantages of having a mutual fund theorem. First, if the relevant conditions are met, it may be easier (or lower in transactions costs) for an investor to purchase a smaller number of mutual funds than to purchase a larger number of assets individually. Second, from a theoretical and empirical standpoint, if it can be assumed that the relevant conditions are indeed satisfied, then implications for the functioning of asset markets can be derived and tested. ==Portfolio separation in mean-variance analysis== Portfolios can be analyzed in a mean-variance framework, with every investor holding the portfolio with the lowest possible return variance consistent with that investor's chosen level of expected return (called a minimum-variance portfolio), if the returns on the assets are jointly elliptically distributed, including the special case in which they are jointly normally distributed. Under mean-variance analysis, it can be shown that every minimum-variance portfolio given a particular expected return (that is, every efficient portfolio) can be formed as a combination of any two efficient portfolios. If the investor's optimal portfolio has an expected return that is between the expected returns on two efficient benchmark portfolios, then that investor's portfolio can be characterized as consisting of positive quantities of the two benchmark portfolios. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Mutual fund separation theorem」の詳細全文を読む スポンサード リンク 翻訳と辞書 : 翻訳のためのインターネットリソース Copyright(C) kotoba.ne.jp 1997-2016. All Rights Reserved.