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FRM一级
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coupon frequency 怎么解释? once a bond has been issued,the time remaining until matyrity 后半句理解 如下图,为什么 sell at $500? pay $1000at maturity 没有收益吗?
A portfolio has an expected return of 11.0% with volatility of 24.0%. The benchmark has an expected return of 5.0% with volatility of 15%. The expected returns correlation is 0.80. What is the expected (ex ante) information ratio (IR)? Tracking error = SQRT(24%^2 + 15%^2 - 2*24%*15%*0.80) = 15.0% 我不明白为什么是减去? 方差的公式不是应是+2*标准差1*标准差2*相关系数(如果有权重也要算入)么?为什么这是减去?谢谢
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