59. Which of the following statements is most likely accurate? The asset allocation

decision explains:

A. more than 100% of the level of return for a fund.

B. about 90% of the variation in returns across funds.

C. an average of 40% of the variation in returns of a fund across time.

答案是a

我在notes上没找到依据，不过在官方课本上找到了 第四本 216页

可惜我怎么看不明白

thus，asset allocation is very important decision。

across all fund ，the asset allocation decision explains an average 40% of the variation in fund return。

for a single fund ，asset allocation decision explains 90% of the fund's variation in return over time and slightly more than 100% of the average fund's leverl of return.

有没谁能帮忙解读下 谢谢了

对于所有的fund来说，资产分配决定了40%的variation

对于单个的fund ，资产分配决定了90%的variation

但是“slightly more than 100% of the average fund's leverl of return.”是啥子意思哦？

谢谢分享，

看了一下书，好像应该这样理解：

首先这里90%, 40%代表的是R squared

x variable - asset allocation

y variable - fund return (or cross funds)

“90%“的解释，根据历史数据做线性回归，对于单个fund来说，asset allocation的变化和fund return对应的那些点，其中90%可以被这个线性回归解释，换句话说，就是 asset allocation和fund return非常相关。

而那个100%,为什么会超过100%呢，我也不是很明白，书上说这是根据测试index的实验得来。

如果强记的话，是不是能这样？

40%-cross all funds

90%-a fund

100%-avg fund (Index)

这题我昨天也看了半天，后来得出的结论和LS的差不多。。

反正针对这题的话，B和C的“across all funds"和“a single fund"搞反了。。。

option A states regarding the level of return, whereas option B and C regarding the variation.

but why it  is more than 100%?