| 单词 | specific risk |
| 释义 | specific risk = non-systematic risk The risk associated with each of the individual assets in a portfolio, as opposed to the systematic risk associated with the market as a whole. It can be eliminated by diversification. Portfolio theory holds that investors should maintain a diversified portfolio in order to maximize the utility of their investments. Because specific risk can be eliminated in this way, there is no requirement for a risk premium for taking specific risks. This is an important underlying principle of the capital asset pricing model and arbitrage pricing theory. Specific risk is measured by the alpha coefficient. |
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