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Progresso di Studio
Across all your exams
Taught in English
Questo esame si sostiene in inglese: le lezioni e le domande sono in inglese. L'interfaccia resta in italiano.
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Key formulas
CAPM
Expected return equals the risk-free rate plus a beta-scaled market risk premium.
Beta
β = 1 → moves with market; β > 1 → amplifies; β < 1 → defensive.
Two-Asset Portfolio Variance
Adding assets with correlation < +1 always reduces variance.
Coupon Bond Price
Yield y and price P always move in opposite directions.
Zero-Coupon Bond Price
No coupons — just one payout F at maturity t.
Part 1 of 1
Every asset's risk splits into two components:
The market compensates you only for systematic risk — you bear idiosyncratic risk voluntarily, so you get nothing extra for it.
Worked example
You own only FIAT stock. You bear all idiosyncratic risk (management scandal, supply chain issues) plus all systematic risk. Now you hold 50 stocks across 10 sectors. Idiosyncratic risk almost disappears — the bad luck in one firm is offset by good luck in others. Only systematic risk remains.
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