capital market line

简明释义

证券投资风险及回收率关系表

英英释义

例句

1.Investors are encouraged to construct portfolios along the capital market line for maximum efficiency.

投资者被鼓励沿着资本市场线构建投资组合，以实现最大效率。

2.The slope of the capital market line represents the market risk premium.

在资本市场线上的斜率代表市场风险溢价。

3.Understanding the capital market line is crucial for making informed investment decisions.

理解资本市场线对做出明智的投资决策至关重要。

4.If your expected returns exceed the capital market line, you may be taking on too much risk.

如果你的预期收益超过资本市场线，你可能承担了过多的风险。

5.The investor's portfolio lies on the capital market line, indicating optimal risk-return trade-off.

投资者的投资组合位于资本市场线上，表明最佳的风险与收益权衡。

作文

The concept of the capital market line is fundamental in the field of finance, particularly in the context of modern portfolio theory. The capital market line represents the risk-return trade-off for efficient portfolios that can be constructed by combining a risk-free asset with a market portfolio. This line is derived from the Capital Asset Pricing Model (CAPM), which illustrates how investors can achieve optimal returns based on their risk tolerance. To understand the significance of the capital market line, one must first grasp the basic principles of risk and return. In finance, risk is often measured by the volatility of an asset's returns, while return is the profit earned from an investment. The capital market line provides a graphical representation of the expected return of a portfolio as a function of its risk, typically represented by standard deviation. The slope of the capital market line indicates the market price of risk, which is the extra return that investors demand for taking on additional risk. The steeper the line, the higher the expected return for each unit of risk taken. This relationship is crucial for investors who aim to maximize their returns while managing their risk exposure. Investors can use the capital market line to determine whether their current portfolio is efficient. An efficient portfolio lies on the line, meaning that it offers the highest expected return for a given level of risk. Conversely, portfolios that fall below the line are considered inefficient, as they do not provide sufficient return for the level of risk taken. In practice, the capital market line helps investors make informed decisions about asset allocation. By understanding where their portfolios lie in relation to the capital market line, investors can adjust their holdings to achieve a more desirable risk-return profile. For instance, if an investor's portfolio is underperforming and located below the line, they may consider reallocating funds to include more riskier assets that have the potential to increase returns. Furthermore, the capital market line also highlights the importance of diversification. By diversifying investments across various asset classes, investors can reduce the overall risk of their portfolio while still aiming for higher returns. This principle is at the heart of modern portfolio theory, which advocates for the construction of portfolios that maximize expected returns based on a given level of risk. In conclusion, the capital market line is an essential tool for investors seeking to understand the relationship between risk and return in financial markets. It serves as a benchmark for evaluating portfolio performance and guiding investment decisions. By utilizing the insights provided by the capital market line, investors can strive to build efficient portfolios that align with their financial goals and risk tolerance. Ultimately, mastering the concept of the capital market line empowers investors to navigate the complexities of the financial landscape with greater confidence and strategic foresight.

“资本市场线”这一概念在金融领域中至关重要，尤其是在现代投资组合理论的背景下。“资本市场线”代表了通过将无风险资产与市场投资组合结合而构建的有效投资组合的风险-收益权衡。这条线源自资本资产定价模型（CAPM），该模型说明了投资者如何根据风险承受能力实现最佳回报。要理解“资本市场线”的重要性，首先必须掌握风险和回报的基本原则。在金融中，风险通常通过资产收益的波动性来衡量，而回报则是投资所赚取的利润。“资本市场线”提供了一个图形化的表示，显示了投资组合的预期回报与其风险之间的关系，通常用标准差表示。“资本市场线”的斜率指示了市场风险价格，即投资者因承担额外风险而要求的额外回报。线越陡，意味着每单位风险所预期的回报越高。这种关系对于旨在最大化回报同时管理风险敞口的投资者至关重要。投资者可以利用“资本市场线”来判断当前投资组合是否有效。有效的投资组合位于这条线上，这意味着它在给定风险水平下提供了最高的预期回报。相反，落在这条线以下的投资组合被视为无效，因为它们未能为所承担的风险提供足够的回报。在实践中，“资本市场线”帮助投资者做出明智的资产配置决策。通过了解其投资组合与“资本市场线”之间的位置，投资者可以调整其持有的资产，以实现更理想的风险-收益特征。例如，如果某个投资者的投资组合表现不佳并位于线下，他们可能会考虑重新分配资金，以包括更多具有潜在增值的高风险资产。此外，“资本市场线”还强调了多样化的重要性。通过在各种资产类别中进行投资多样化，投资者可以降低投资组合的整体风险，同时仍然追求更高的回报。这一原则是现代投资组合理论的核心，该理论倡导构建能够根据给定风险水平最大化预期回报的投资组合。总之，“资本市场线”是投资者理解金融市场中风险与回报关系的重要工具。它作为评估投资组合表现和指导投资决策的基准。通过利用“资本市场线”所提供的洞察，投资者可以努力构建符合其财务目标和风险承受能力的有效投资组合。最终，掌握“资本市场线”的概念使投资者能够更自信、更具战略眼光地驾驭金融环境的复杂性。