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%?
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