{"id":1428,"date":"2020-04-10T14:20:57","date_gmt":"2020-04-10T06:20:57","guid":{"rendered":"http:\/\/yutingvpn.tw\/wordpress\/?p=1428"},"modified":"2020-04-10T16:38:34","modified_gmt":"2020-04-10T08:38:34","slug":"%e9%a2%a8%e9%9a%aa%e5%80%bc%e5%87%bd%e6%95%b8%e7%9a%84%e6%87%89%e7%94%a8","status":"publish","type":"post","link":"https:\/\/quantbrains.club\/wordpress\/2020\/04\/10\/%e9%a2%a8%e9%9a%aa%e5%80%bc%e5%87%bd%e6%95%b8%e7%9a%84%e6%87%89%e7%94%a8\/","title":{"rendered":"\u98a8\u96aa\u503c\u51fd\u6578\u7684\u61c9\u7528"},"content":{"rendered":"\n

\u5982\u679c\u6709\u9577\u671f\u5728\u6536\u770b\u6211\u7684\u5ee2\u8a71\uff0c\u61c9\u8a72\u5c0d\u98a8\u96aa\u503c\u9019\u500b\u8a5e\u4e0d\u6703\u5f88\u964c\u751f\uff0c\u65e9\u5728\u5e7e\u5e74\u524d\u804aPosition Sizing \u4e5f\u5c31\u662f\u90e8\u4f4d\u7ba1\u7406\u7684\u6642\u5019\u5c31\u6709\u6301\u7e8c\u804a\u5230\u9019\u500b\u6771\u897f\u3002\u7576\u6642\u4e5f\u6380\u8d77\u4e86\u4e0d\u5c11\u8ad6\u6230\uff0c\u6709\u7684\u4eba\u8a8d\u70ba\u98a8\u96aa\u503c\u91cd\u8981\u7a0b\u5ea6\u4e26\u4e0d\u9ad8\uff0c\u5145\u5176\u91cf\u53ea\u662f\u505a\u70ba\u6295\u8cc7\u7d44\u5408\u7528\u7684\u8f49\u63db\u5de5\u5177\u800c\u5df2(\u53ef\u53c3\u8003\u98a8\u96aa\u5e73\u50f9\u8207\u7b56\u7565\u6a19\u6e96\u5316<\/a>\u4e00\u6587)\uff0c\u6211\u7576\u6642\u7684\u8ad6\u9ede\u5247\u662f\u98a8\u96aa\u503c\u4e26\u4e0d\u53ea\u662f\u55ae\u7d14\u7684\u8f49\u63db(\u591a\u5546\u54c1\u4e2d\u7684\u532f\u7387\u8173\u8272)\uff0c\u98a8\u96aa\u503c\u771f\u6b63\u7684\u5999\u7528\u5728\u65bc\u4f5c\u70ba\u4e00\u500b\u8a0a\u865f\u7684\u7a69\u56fa\u7a0b\u5ea6\u7684\u4fe1\u8cf4\u53c3\u8003(\u86e4? \u90a3\u8ddf\u8a55\u50f9\u51fd\u6578\u6709\u4ec0\u9ebc\u4e0d\u4e00\u6a23?\u6700\u5f8c\u8b1b)\uff0c\u7576\u6642\u6211\u4e5f\u63d0\u4e86\u5f88\u591a\u6bd4\u55bb\u6216\u8a31\u6709\u4e9b\u4eba\u4e5f\u9084\u6709\u4e9b\u5370\u8c61\uff0c\u50cf\u662f\u6eab\u5ba4\u88cf\u9762\u7684\u7a7a\u6c23\u7c92\u5b50\u7684\u6eab\u5ea6\u3001\u6df7\u4e82\u7a0b\u5ea6(\u4e82\u5ea6\u3001\u96dc\u8a0a)\uff0c\u6216\u662f\u4f60\u958b\u8eca\u7684\u6642\u5019\u9047\u5230\u4e86\u6fc3\u9727\uff0c\u9727\u7684\u6fc3\u5ea6\u6703\u5f71\u97ff\u4f60\u958b\u8eca\u7684\u5b89\u5168\u7a0b\u5ea6\u7b49\u7b49<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

\u98a8\u96aa\u503c\u51fd\u6578\u7684\u8a08\u7b97\u65b9\u5f0f\u6211\u5c31\u4e0d\u8b1b\u4e86\uff0c\u9019\u5927\u6982\u4e5f\u90fd\u662f\u5f88\u5bb9\u6613google\u7684\u5230\u7684\u6771\u897f\uff0c\u4e00\u822c\u5e38\u898b\u7684ATR\/STD\/VaR \u5167\u5bb9\u7db2\u8def\u4e0a\u61c9\u8a72\u90fd\u67e5\u7684\u5230\uff0c\u6211\u7b2c\u4e00\u6b21\u770b\u5230\u9019\u500b\u6771\u897f\u61c9\u8a72\u662f\u5728\u6d77\u9f9c\u7684\u7cfb\u7d71\u4e2d(\u53ef\u4ee5\u53c3\u8003\u6d77\u9f9c\u6295\u8cc7\u6cd5\u5247\u4e00\u66f8\uff0c\u5728\u5b89\u5fb7\u70c8\u3002\u53ef\u862d\u8afe\u7684\u52d5\u80fd\u6295\u8cc7\u6cd5\/\u9806\u52e2\u64cd\u4f5c\u88e1\u61c9\u8a72\u4e5f\u6709)\u770b\u5230\uff0c\u4e0d\u904e\u78ba\u5be6\u4e5f\u90fd\u53ea\u662f\u63d0\u5230\u4f5c\u70ba\u8f49\u63db\u5de5\u5177\u7684\u7528\u9014 (RiskParity)\uff0c\u6709\u9ede\u53ef\u60dc\uff0c\u4e5f\u96e3\u602a\u5f88\u591a\u6b7b\u8b80\u66f8\u7684\u4eba\u6703\u4ee5\u70ba\u61c9\u7528\u50c5\u6b62\u65bc\u6b64\u3002<\/p>\n\n\n\n

\u5176\u5be6\u8981\u77e5\u9053\u9019\u500b\u6771\u897f\u5230\u5e95\u5c0d\u65bc\u7b56\u7565\u7e3e\u6548\u6709\u6c92\u6709\u5e6b\u52a9\uff0c\u5f88\u7c21\u55ae\uff0c\u571f\u6cd5\u8001\u6897\uff0c\u4eff\u7167\u4e4b\u524d\u6211\u5011\u9a57\u8b49\u8a55\u50f9\uff08\u671f\u671b\u503c\uff09\u51fd\u6578\u7684\u6a21\u5f0f\uff0c\u76f4\u63a5\u628a\u98a8\u96aa\u503c\u5beb\u6210\u6ffe\u93e1\u52a0\u9032\u7b56\u7565\u88cf\u770b\u770b\u5c31\u77e5\u9053\u4e86\uff0c\u505a\u6210\u90e8\u4f4d\u7ba1\u7406\u6ffe\u93e1(\u76f4\u63a5\u91dd\u5c0d\u90e8\u4f4d\u503c\u505a\u52a0\u6b0a)\u6216\u662f\u6700\u7c21\u55ae\u7684\u622a\u65b7\u6ffe\u93e1(\u8a2d\u5b9a\u95a5\u503c\uff0c\u95a5\u503c\u4ee5\u4e0b\u4e0d\u505a\u55ae)<\/span><\/strong>\u90fd\u53ef\u4ee5<\/p>\n\n\n\n

\u98a8\u96aa\u503c\u6ffe\u93e1\u7684\u5beb\u6cd5\u5982\u4e0a\u6240\u8ff0\uff0c\u800c\u539f\u59cb\u7b56\u7565\u5247\u50cf\u904e\u5f80\u4e00\u6a23\u62ff\u6700\u5e38\u898b\u7684\u5747\u7dda\u5c0d\u7ffb\u7cfb\u7d71\u3002\u5546\u54c1\u6700\u597d\u4e00\u6b21\u62ff\u5e7e\u5341\u500b\u4f86\u89c0\u5bdf\uff0c\u4e0d\u7136\u4f60\u600e\u9ebc\u6703\u77e5\u9053\u9019\u662f\u4e0d\u662f\u5de7\u5408<\/p>\n\n\n\n

\u61f6\u5f97\u5168\u90e8\u91cd\u5f04\u76f4\u63a5\u62c9\u820a\u6587\u4f86\u770b\uff38\uff24\uff0c\u4e4b\u524d\u505a\u7684\u6e2c\u8a66\uff0c\u5168\u5546\u54c1\u4e0d\u505a\u500b\u5225\u6700\u4f73\u5316\uff0c\u4e0d\u5206\u591a\u7a7a\u7d71\u4e00\u53c3\u6578\uff0c\u4eba\u8166\u81ea\u52d5\u8fa8\u8b58\u61c9\u8a72\u53ef\u4ee5\u5f88\u6e05\u695a\u524d\u5f8c\u5716\u8868\u7684\u6296\u52d5(\u6c92\u610f\u7fa9\u7684\u9032\u51fa\u3001\u7121\u6548\u4ea4\u6613)\u8b8a\u5c11\u4e86<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

\u5c0f\u9053\u74ca\uff08\u5747\u7dda\u7cfb\u7d71\uff0c\u591a\u7a7a\u5c0d\u7ffb\u6c38\u9060\u6709\u55ae\uff0c\u4e0d\u52a0<\/strong>\u98a8\u96aa\u503c\u6ffe\u93e1\uff09<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n
\"\"<\/figure>\n\n\n\n

\u5c0f\u9053\u74ca\uff08\u4e0a\u9762\u7cfb\u7d71\u52a0\u4e0a\u98a8\u96aa\u503c\u6ffe\u93e1<\/span><\/strong>\uff0c\u7c21\u55ae\u5c0d\u7b56\u7565\u8a0a\u865f\u9032\u884c\u7be9\u9078\uff0c\u98a8\u96aa\u503c\u904e\u9ad8\u6642\u95dc\u9589\u7b56\u7565\u9032\u5834\u8a0a\u865f<\/span><\/strong>\uff09<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n
\"\"<\/figure>\n\n\n\n

\u6046\u751f\uff08\u5747\u7dda\u7cfb\u7d71\uff0c\u591a\u7a7a\u5c0d\u7ffb\u6c38\u9060\u6709\u55ae\uff0c\u4e0d\u52a0<\/strong>\u98a8\u96aa\u503c\u6ffe\u93e1\uff09<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n
\"\"<\/figure>\n\n\n\n

\u6046\u751f\uff08\u4e0a\u9762\u7cfb\u7d71\u52a0\u4e0a\u98a8\u96aa\u503c\u6ffe\u93e1<\/span><\/strong>\uff0c\u7c21\u55ae\u5c0d\u7b56\u7565\u8a0a\u865f\u9032\u884c\u7be9\u9078\uff0c\u98a8\u96aa\u503c\u904e\u9ad8\u6642\u95dc\u9589\u7b56\u7565\u9032\u5834\u8a0a\u865f<\/strong><\/span>\uff09<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n
\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

\u900f\u904e\u4e0a\u9762\u6bd4\u8f03\u7d30\u5fae\u7684\u5c0d\u6bd4\uff0c\u900f\u904e\u98a8\u96aa\u503c\u6ffe\u93e1\u4f86\u505aPosition Sizing\u6216\u662f\u8a0a\u865f\u53ef\u4fe1\u5ea6\u7be9\u9078\u770b\u8d77\u4f86\u6548\u679c\u61c9\u8a72\u662f\u633a\u660e\u986f\uff0c\u7576\u5e74\u90a3\u4e9b\u8aaaPosition Sizing\u53ea\u662f\u591a\u5546\u54c1\u7684\u90e8\u4f4d\u8f49\u63db\u7528\u9014\uff0c\u5c0d\u7b56\u7565\u7e3e\u6548\u6c92\u4ec0\u9ebc\u5e6b\u52a9\u7684\u4eba\u5011\uff0c\u4f60\u5011\u73fe\u5728\u7684\u770b\u6cd5\u662f?<\/p>\n\n\n\n

\u591a\u7a7a\u518d\u9032\u884c\u5206\u62c6\u8a55\u50f9\u5f8c\u6548\u679c\u6703\u66f4\u597d\uff0c\u4e0d\u904e\u9019\u4e0d\u662f\u4eca\u5929\u4e3b\u984c\uff0c\u4e5f\u61f6\u5f97\u518d\u622a\u90a3\u9ebc\u591a\u5716\u4e86\uff0c\u4e3b\u8981\u611f\u53d7\u4e00\u4e0b\u524d\u5f8c\u7121\u6548\u4ea4\u6613\u7684\u6e1b\u5c11\u6548\u679c\u5c31\u597d\u4e86<\/p>\n\n\n\n

\u591a\u7a7a\u6307\u6a19\u5176\u5be6\u90fd\u5927\u540c\u5c0f\u7570\uff0c\u65e9\u4e00\u9ede\u665a\u4e00\u9ede\u9032\u5834\u800c\u5df2\uff0c\u6ffe\u93e1\uff08\u90e8\u4f4d\u7ba1\u7406\uff09\u624d\u662f\u4e00\u500b\u7b56\u7565\u7684\u9748\u9b42<\/span><\/strong><\/p>\n\n\n\n

\u984c\u5916\u8a71\uff0c\u95dc\u65bc\u6046\u751f…. \u6211\u500b\u4eba\u9084\u883b\u559c\u6b61\u9019\u500b\u5546\u54c1\u7684….\u53ef\u80fd\u662f\u56e0\u70ba\u9019\u88e1\u6c92\u6709\u592a\u591a\u884d\u751f\u6027\u91d1\u878d\u5546\u54c1\u907f\u96aa\u5de5\u5177\u8b93\u6cd5\u4eba\u6b3a\u8ca0\u6563\u6236(\u61c9\u8a72\u662f\u5427?\u5982\u679c\u6211\u6c92\u641e\u932f\u7684\u8a71\uff0c\u9019\u88e1\u597d\u50cf\u6c92\u6709\u9078\u64c7\u6b0a\uff0c\u6709\u932f\u7cfe\u6b63\u6211\u4e00\u4e0b)? \u4e0d\u50cf\u53f0\u6307\uff0c\u53c8\u662f\u6708\u7d50\u53c8\u662f\u5468\u7d50\uff0c\u6c99\u5c0f…<\/p>\n\n\n\n

murmur\u5b8c\u4e86\uff0c\u90a3\u8a55\u50f9\u51fd\u6578\u8ddf\u98a8\u96aa\u503c\u7684\u8173\u8272\u6709\u4f55\u4e0d\u540c? \u8a55\u50f9\u51fd\u6578\u672c\u8eab\u6bd4\u8f03\u662f\u91dd\u5c0d\u7b56\u7565\u81ea\u8eab\u8a0a\u865f\u54c1\u8cea\uff08equity\uff09\u7684\u8a08\u7b97\uff0c\u800c\u98a8\u96aa\u503c\u5247\u662f\u6bd4\u8f03\u5074\u91cd\u65bc\u5546\u54c1\uff08\u6a23\u672c\u7a7a\u9593\uff09\u672c\u8eab\u7684\u8a08\u7b97\uff08\u6709\u6642\u5019\u4e5f\u53ef\u80fd\u6703\u53c3\u8003\u7d44\u5408\u5167\u5176\u4ed6\u5546\u54c1\uff0c\u4e5f\u5c31\u662f\u505aparity\u7684\u6642\u5019\uff0c\u770b\u4f60\u5e73\u50f9\u7684\u6bd4\u4f8b\u5c0d\u8c61\u662f\u73fe\u91d1\u9084\u662f\u76f8\u5c0d\u65bc\u5176\u4ed6\u5546\u54c1\uff0c\u9019\u88e1\u5c31\u4e0d\u626f\u592a\u9060\u4e86\uff09\u3002\u6578\u5b78\u4e0a\u8a55\u50f9\u51fd\u6578\u4e3b\u8981\u64d4\u4efb\u5206\u5b50\uff0c\u98a8\u96aa\u503c\u5247\u4e3b\u8981\u4f5c\u70ba\u5206\u6bcd\u7684\u8173\u8272\u3002\u59a5\u5584\u61c9\u7528\u751a\u81f3\u5275\u65b0(\u975e\u7dda\u6027\u51fd\u6578)\u90fd\u80fd\u505a\u5230\u6539\u5584\u7e3e\u6548\u7684\u76ee\u7684\u3002<\/p>\n\n\n\n

\u8a0e\u8ad6\u5340\u88e1\u81ea\u52d5\u69d3\u687f\u6e90\u78bc\u7bc4\u4f8b\u7684\u61c9\u7528\u4e5f\u662f\u985e\u4f3c\u7684\u6982\u5ff5<\/p>\n\n\n\n

\u5c31\u964d\uff0c\u5982\u679c\u4f60\u5468\u672b\u7121\u804a\u5c31\u60f3\u60f3\u770b\u98a8\u96aa\u503c\u6ffe\u93e1\u600e\u9ebc\u505a\u5427\u2026.\u61c9\u8a72\u4e5f\u4e0d\u662f\u592a\u56f0\u96e3\uff0c\u6982\u5ff5\u61c9\u8a72\u90fd\u8b1b\u721b\u4e86\uff0c\u9019\u88e1\u5c31\u4e0d\u516c\u5e03\u6e90\u78bc\u4e86\uff0c\u9664\u4e86\u79c1\u5fc3\u4e4b\u5916\u4e5f\u6015\u9650\u5236\u4e86\u4f60\u7684\u60f3\u50cf<\/p>\n","protected":false},"excerpt":{"rendered":"

\u5982\u679c\u6709\u9577\u671f\u5728\u6536\u770b\u6211\u7684\u5ee2\u8a71\uff0c\u61c9\u8a72\u5c0d\u98a8\u96aa\u503c\u9019\u500b\u8a5e\u4e0d\u6703\u5f88\u964c\u751f\uff0c\u65e9\u5728…<\/p>\n","protected":false},"author":1,"featured_media":1429,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/quantbrains.club\/wordpress\/wp-json\/wp\/v2\/posts\/1428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quantbrains.club\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quantbrains.club\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quantbrains.club\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quantbrains.club\/wordpress\/wp-json\/wp\/v2\/comments?post=1428"}],"version-history":[{"count":26,"href":"https:\/\/quantbrains.club\/wordpress\/wp-json\/wp\/v2\/posts\/1428\/revisions"}],"predecessor-version":[{"id":1465,"href":"https:\/\/quantbrains.club\/wordpress\/wp-json\/wp\/v2\/posts\/1428\/revisions\/1465"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quantbrains.club\/wordpress\/wp-json\/wp\/v2\/media\/1429"}],"wp:attachment":[{"href":"https:\/\/quantbrains.club\/wordpress\/wp-json\/wp\/v2\/media?parent=1428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quantbrains.club\/wordpress\/wp-json\/wp\/v2\/categories?post=1428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quantbrains.club\/wordpress\/wp-json\/wp\/v2\/tags?post=1428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}