Rayleigh multipath channel model As defined in the post on Rayleigh multipath channel modelthe channel was modelled as n-tap channel with each the real and imaginary part of each tap being an independent Gaussian random variable.

By the diagram, the introduction of the risk-free asset as a possible component of the portfolio has improved the range of risk-expected return combinations available, because everywhere except at the tangency portfolio the half-line gives a higher expected return than the hyperbola does at every possible risk level.

The fact that all points on the linear efficient locus can be achieved by a combination of holdings of the risk-free asset and the tangency portfolio is known as the one mutual fund theorem[3] where the mutual fund referred to is the tangency portfolio.

Asset pricing[ edit ] The above analysis describes optimal behavior of an individual investor. Asset pricing theory builds on this analysis in the following way. Since everyone holds the risky assets in identical proportions to each other—namely in the proportions given by the tangency portfolio—in market equilibrium the risky assets' prices, and therefore their expected returns, will adjust so that the ratios in the tangency portfolio are the same as the ratios in which the risky assets are supplied to the market.

Thus relative supplies will equal relative demands. MPT derives the required expected return for a correctly priced asset in this context. Systematic risk and specific risk[ edit ] Specific risk is the risk associated with individual assets - within a portfolio these risks can be reduced through diversification specific risks "cancel out".

Specific risk is also called diversifiable, unique, unsystematic, or idiosyncratic risk.

Within the market portfolio, asset specific risk will be diversified away to the extent possible. Systematic risk is therefore equated with the risk standard deviation of the market portfolio.

Since a security will be purchased only if it improves the risk-expected return characteristics of the market portfolio, the relevant measure of the risk of a security is the risk it adds to the market portfolio, and not its risk in isolation.

In this context, the volatility of the asset, and its correlation with the market portfolio, are historically observed and are therefore given.

There are several approaches to asset pricing that attempt to price assets by modelling the stochastic properties of the moments of assets' returns - these are broadly referred to as conditional asset pricing models. Systematic risks within one market can be managed through a strategy of using both long and short positions within one portfolio, creating a "market neutral" portfolio.

Market neutral portfolios, therefore, will be uncorrelated with broader market indices. Capital asset pricing model[ edit ] Main article: Capital asset pricing model The asset return depends on the amount paid for the asset today.

The CAPM is a model that derives the theoretical required expected return i. The CAPM is usually expressed:If you’re looking for a tutorial on breaking an axis scale, you won’t find it here. Instead you’ll read why breaking an axis is a bad idea, and you’ll get a tutorial in Panel Charts, which are a more effective (and easier) means to show your data.

Libsndfile is a library designed to allow the reading and writing of many different sampled sound file formats (such as MS Windows WAV and the Apple/SGI AIFF format) through one .

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Using Matlab's posibility to search a file in the complete list of folders in the path leads to such strange effects.

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