{"id":25002,"date":"2022-06-01T07:36:52","date_gmt":"2022-06-01T07:36:52","guid":{"rendered":"https://www.5paisa.com/gujarati/finschool/?post_type=markets\u0026#038;p=25002"},"modified":"2023-01-24T00:54:09","modified_gmt":"2023-01-23T19:24:09","slug":"risk-return-relationship","status":"publish","type":"markets","link":"https://www.5paisa.com/gujarati/finschool/course/investment-analysis-course/risk-return-relationship/","title":{"rendered":"Learn About Measuring Risk \u0026#038; Return of Mutual Fund"},"content":{"rendered":"\u003cdiv data-elementor-type=\u0022wp-post\u0022 data-elementor-id=\u002225002\u0022 class=\u0022elementor elementor-25002\u0022\u003e\u003csection class=\u0022elementor-section elementor-top-section elementor-element elementor-element-825a2f1 elementor-section-full_width tab_container elementor-section-height-default elementor-section-height-default\u0022 data-id=\u0022825a2f1\u0022 data-element_type=\u0022section\u0022\u003e\u003cdiv 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data-title-link=\u0022study-tab\u0022\u003e\u003cp\u003e\u003cdiv class=\u0027white\u0027 style=\u0027background:rgb(255, 255, 255); border:solid 0px rgb(255, 255, 255); border-radius:0px; padding:0px 0px 0px 1px;\u0027\u003e\u003cdiv id=\u0027text_slider\u0027 class=\u0027owl-carousel sa_owl_theme owl-pagination-true\u0027 data-slider-id=\u0027text_slider\u0027 style=\u0027visibility: visible;visibility:visible;\u0027\u003e\u003cdiv id=\u0027text_slider_slide01\u0027 class=\u0027sa_hover_container\u0027 data-hash=\u0027Risk-Return-Relationship\u0027 style=\u0027padding:4.9% 5%; margin:0px 0%; background-color:rgb(255, 255, 255); min-height:400px; \u0027\u003e\u003ch3 style=\u0022text-align: left\u0022\u003e\u003cstrong\u003e\u003cspan style=\u0022color: #f1566d\u0022\u003e5.1 રિસ્ક રિટર્ન સંબંધ\u003c/span\u003e\u003c/strong\u003e\u003ca href=\u0022https://www.5paisa.com/gujarati/finschool/wp-content/uploads/2022/01/Crypto-portfolio-pana.svg\u0022\u003e\u003cimg fetchpriority=\u0022high\u0022 decoding=\u0022async\u0022 class=\u0022size-full wp-image-16524 aligncenter\u0022 role=\u0022img\u0022 src=\u0022http://www.5paisa.com/finschool/wp-content/uploads/2022/01/Crypto-portfolio-pana.svg\u0022 alt=\u0022\u0022 width=\u0022500\u0022 height=\u0022500\u0022 /\u003e\u003c/a\u003e\u003c/h3\u003e\u003cp\u003eફાઇનાન્સ સાહિત્યની સૌથી મૂળભૂત ટેનેટ એ છે કે જોખમ અને રિટર્ન વચ્ચે ટ્રેડ-ઑફ છે. રિસ્ક-રિટર્ન સંબંધ માટે જરૂરી છે કે સુરક્ષા પર રિટર્ન તેની જોખમ સાથે પ્રારંભ હોવું જોઈએ. જો મૂડી બજારો કાર્યકારી રીતે કાર્યક્ષમ હોય, તો તમામ રોકાણ સંપત્તિઓએ એક દર અથવા વળતર પ્રદાન કરવી જોઈએ જે તેમની સાથે સંકળાયેલા જોખમો સાથે સુસંગત હોય. રિસ્ક અને રિટર્ન સીધા વેરિએબલ છે, એટલે કે, ઉચ્ચ રિસ્કવાળા ઇન્વેસ્ટમેન્ટમાં વધુ રિટર્ન આપવું જોઈએ.\u003c/p\u003e\u003cp\u003eજોખમ/રિટર્ન ટ્રેડ-ઑફને સરળતાથી \u0026quot;રાત્રે સ્લીપ-ટુ-સ્લીપ-ટેસ્ટ\u0026quot; કહી શકાય છે. જ્યારે કેટલાક લોકો આંખને બેટ કર્યા વિના ફાઇનાન્શિયલ સ્કાયડાઇવિંગના સમકક્ષ સંભાળ શકે છે, ત્યારે અન્ય લોકો સુરક્ષિત હાર્નેસ વગર ફાઇનાન્શિયલ સીડી પર ચડવા માટે ભયજનક હોય છે. તમારા ઇન્વેસ્ટમેન્ટ સાથે આરામદાયક બની રહેતી વખતે તમે કેટલા જોખમ લઈ શકો છો તે નક્કી કરવું ખૂબ જ મહત્વપૂર્ણ છે.\u003c/p\u003e\u003cp\u003eરોકાણ વિશ્વમાં, જોખમની શબ્દકોશ વ્યાખ્યા એ સંભવના છે કે રોકાણની વાસ્તવિક વળતર અપેક્ષાથી અલગ હશે. તકનીકી રીતે, આ સ્ટાન્ડર્ડ ડિવિએશન દ્વારા આંકડાઓમાં માપવામાં આવે છે. રિસ્કનો અર્થ એ છે કે તમારા મૂળ ઇન્વેસ્ટમેન્ટની કેટલીક અથવા બધું ગુમાવવાની શક્યતા છે.\u003c/p\u003e\u003cp\u003eઅનિશ્ચિતતાના ઓછા સ્તર (ઓછા જોખમ) ઓછા સંભવિત વળતર સાથે સંકળાયેલા છે. ઉચ્ચ સ્તરના અનિશ્ચિતતા (ઉચ્ચ જોખમ) ઉચ્ચ સંભવિત વળતર સાથે સંકળાયેલા છે. જોખમ/રિટર્ન ટ્રેડ-ઑફ એ સૌથી ઓછા સંભવિત જોખમ અને શક્ય તેટલા ઉચ્ચતમ રિટર્નની ઇચ્છા વચ્ચેનું બૅલેન્સ છે. આ નીચે આપેલા ચાર્ટમાં ગ્રાફિક રીતે દર્શાવવામાં આવે છે. ઉચ્ચ માનક વિચલનનો અર્થ એ ઉચ્ચ જોખમ અને શક્ય વધારે વળતર છે. નીચેની આંકડા જોખમ અને પરત વચ્ચેના સંબંધને દર્શાવે છે.\u003c/p\u003e\u003cp\u003e\u003cimg decoding=\u0022async\u0022 class=\u0022size-medium wp-image-31738 aligncenter\u0022 src=\u0022https://www.5paisa.com/finschool/wp-content/uploads/2022/05/5.1-300x300.jpg\u0022 alt=\u0022\u0022 width=\u0022300\u0022 height=\u0022300\u0022 srcset=\u0022https://www.5paisa.com/finschool/wp-content/uploads/2022/05/5.1-300x300.jpg 300w, https://www.5paisa.com/finschool/wp-content/uploads/2022/05/5.1-150x150.jpg 150w, https://www.5paisa.com/finschool/wp-content/uploads/2022/05/5.1-50x50.jpg 50w, https://www.5paisa.com/finschool/wp-content/uploads/2022/05/5.1-100x100.jpg 100w, https://www.5paisa.com/finschool/wp-content/uploads/2022/05/5.1-96x96.jpg 96w, https://www.5paisa.com/finschool/wp-content/uploads/2022/05/5.1.jpg 500w\u0022 sizes=\u0022(max-width: 300px) 100vw, 300px\u0022 /\u003e\u003c/p\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003cp\u003eબજાર રેખાનો ઢગલો બધા રોકાણકારો દ્વારા જરૂરી જોખમના પ્રતિ એકમ દીઠ વળતરને સૂચવે છે. અત્યંત જોખમ-વિરોધી રોકાણકારો પાસે એક સ્ટીપર લાઇન હશે, અને તેમ જ વિપરીત હશે. સ્પષ્ટપણે સમાન સ્ટૉક્સ પરની ઉપજ અલગ હોઈ શકે છે. કિંમતમાં તફાવતો, અને તેથી ઉપજ, જારીકર્તા કંપનીના સ્થાયી અને ચોક્કસ સ્ટૉક્સમાં જોખમ તત્વોનું બજારનું મૂલ્યાંકન પ્રતિબિંબિત કરે છે. સામાન્ય રીતે બજારના સંબંધમાં ઉચ્ચ ઉપજ એક સરેરાશ જોખમ તત્વ બતાવે છે\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e\u003cspan style=\u0022color: #000080\u0022\u003e\u003cem\u003eવિવિધ સિક્યોરિટીઝનું જોખમ અને રિટર્ન સંબંધ\u003c/em\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/p\u003e\u003cp\u003e\u003cimg decoding=\u0022async\u0022 class=\u0022 wp-image-31739 aligncenter\u0022 src=\u0022https://www.5paisa.com/finschool/wp-content/uploads/2022/05/Untitled-design-6-300x300.jpg\u0022 alt=\u0022\u0022 width=\u0022330\u0022 height=\u0022330\u0022 srcset=\u0022https://www.5paisa.com/finschool/wp-content/uploads/2022/05/Untitled-design-6-300x300.jpg 300w, https://www.5paisa.com/finschool/wp-content/uploads/2022/05/Untitled-design-6-150x150.jpg 150w, https://www.5paisa.com/finschool/wp-content/uploads/2022/05/Untitled-design-6-50x50.jpg 50w, https://www.5paisa.com/finschool/wp-content/uploads/2022/05/Untitled-design-6-100x100.jpg 100w, https://www.5paisa.com/finschool/wp-content/uploads/2022/05/Untitled-design-6-96x96.jpg 96w, https://www.5paisa.com/finschool/wp-content/uploads/2022/05/Untitled-design-6.jpg 500w\u0022 sizes=\u0022(max-width: 330px) 100vw, 330px\u0022 /\u003e\u003c/p\u003e\u003cp\u003eએક સમયે પ્રવર્તમાન સંયુક્ત માર્કેટ લાઇનને ધ્યાનમાં રાખીને, રોકાણકારો તેમની જોખમની પસંદગીઓ સાથે સુસંગત રોકાણોની પસંદગી કરશે. કેટલાક લો-રિસ્ક ઇન્વેસ્ટમેન્ટને ધ્યાનમાં લેશે, જ્યારે અન્ય હાઇ-રિસ્ક ઇન્વેસ્ટમેન્ટને પસંદ કરશે.\u003c/p\u003e\u003cp\u003eએક સામાન્ય ખોટી કલ્પના એ છે કે વધુ જોખમ વધુ વળતર આપે છે. જોખમ/પરત કરવાનું ટ્રેડઑફ અમને જણાવે છે કે ઉચ્ચ જોખમ અમને વધુ રિટર્નની સંભાવના આપે છે. પરંતુ કોઈ ગેરંટી નથી. જોખમનો અર્થ એ છે કે ઉચ્ચ સંભવિત વળતર, તેનો અર્થ ઉચ્ચ સંભવિત નુકસાન પણ છે.\u003c/p\u003e\u003cp\u003eOn the lower end of the scale, the risk-free rate of return is represented by the return on Treasury Bills of government securities, because their chance of default is next to nil. If the risk-free rate is currently 8 to 10 %, this means, with virtually no risk, we can earn 8 to 10 % per year on our money. The common question arises: who wants to earn 6% when index funds average 12% per year over the long run? The answer to this is that even the entire market (represented by the index fund) carries risk. The return on index funds is not 12% every year, but rather -5% one year, 25% the next year, and so on. An investor still faces substantially greater risk and volatility to receive an overall return that is higher than a predictable government security. This additional return is the risk premium, which in this case is 8% (12% \u0026#8211; 8%). Determining what risk level is most appropriate for you isn\u0026#8217;t an easy question to answer. Risk tolerance differs from person to person. The decision should depend on your goals, income and personal situation, among other factors.\u003c/p\u003e\u003c/div\u003e\u003cdiv id=\u0027text_slider_slide02\u0027 class=\u0027sa_hover_container\u0027 data-hash=\u0027Portfolio and Security Returns\u0027 style=\u0027padding:4.9% 5%; margin:0px 0%; background-color:rgb(255, 255, 255); min-height:400px; \u0027\u003e\u003ch3 style=\u0022text-align: left\u0022\u003e\u003cstrong\u003e\u003cspan style=\u0022color: #f1566d\u0022\u003e5.2 પોર્ટફોલિયો અને સુરક્ષા રિટર્ન\u003c/span\u003e\u003c/strong\u003e\u003c/h3\u003e\u003ch3 style=\u0022text-align: left\u0022\u003e\u003ca href=\u0022https://www.5paisa.com/gujarati/finschool/wp-content/uploads/2022/01/Consulting-amico.svg\u0022\u003e\u003cimg loading=\u0022lazy\u0022 decoding=\u0022async\u0022 class=\u0022size-full wp-image-16525 aligncenter\u0022 role=\u0022img\u0022 src=\u0022http://www.5paisa.com/finschool/wp-content/uploads/2022/01/Consulting-amico.svg\u0022 alt=\u0022\u0022 width=\u0022500\u0022 height=\u0022500\u0022 /\u003e\u003c/a\u003e\u003c/h3\u003e\u003cp\u003eએક પોર્ટફોલિયો સિક્યોરિટીઝનું સંગ્રહ છે. કારણ કે કોઈ વ્યક્તિ અથવા સંસ્થાના સંપૂર્ણ ભંડોળને એક જ સુરક્ષામાં રોકાણ કરવું ભાગ્યે જરૂરી છે, તેથી દરેક સુરક્ષાને પોર્ટફોલિયો સંદર્ભમાં જોવા જરૂરી છે. આમ, એવું લાગે છે કે પોર્ટફોલિયોની અપેક્ષિત રિટર્ન પોર્ટફોલિયોમાં શામેલ પ્રત્યેક સુરક્ષાના અપેક્ષિત રિટર્ન પર આધારિત હોવું જોઈએ. એવું લાગે છે કે દરેક સુરક્ષામાં રોકાણ કરેલી રકમ મહત્વપૂર્ણ હોવી જોઈએ. ખરેખર, આ કેસ છે.\u003c/p\u003e\u003cp\u003eનીચે દર્શાવેલ ત્રણ સિક્યોરિટીઝ સાથે પોર્ટફોલિયોનું ઉદાહરણ જે આ બિંદુને દર્શાવે છે.\u003c/p\u003e\u003cp\u003e\u003cstrong\u003eસુરક્ષા અને પોર્ટફોલિયો મૂલ્યો\u003c/strong\u003e\u003c/p\u003e\u003ctable style=\u0022height: 511px\u0022 width=\u0022881\u0022\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd 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width=\u0022100\u0022\u003e\u003cp\u003e\u003cstrong\u003e23100\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cp\u003e\u003cstrong\u003eસુરક્ષા અને પોર્ટફોલિયો મૂલ્ય-સંબંધી\u003c/strong\u003e\u003c/p\u003e\u003ctable width=\u0022658\u0022\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd width=\u002295\u0022\u003e\u003cp\u003e\u003cstrong\u003eસુરક્ષા\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002278\u0022\u003e\u003cp\u003e\u003cstrong\u003eવર્તમાન મૂલ્ય\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e\u003cstrong\u003eપોર્ટફોલિયોના વર્તમાન મૂલ્યનો પ્રમાણ\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e\u003cstrong\u003eપ્રતિ શેર વર્તમાન કિંમત\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e\u003cstrong\u003eપીરિયડ શેર મૂલ્યનો અપેક્ષિત અંત\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e\u003cstrong\u003eઅપેક્ષિત હોલ્ડિંગ સમયગાળાનું મૂલ્ય સંબંધી\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002298\u0022\u003e\u003cp\u003e\u003cstrong\u003eપોર્ટફોલિયોમાં અપેક્ષિત હોલ્ડિંગ-પીરિયડ વેલ્યૂ-રિલેટિવમાં યોગદાન\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u002295\u0022\u003e\u003cp\u003e\u003cstrong\u003e(1)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002278\u0022\u003e\u003cp\u003e\u003cstrong\u003e(2)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e\u003cstrong\u003e(3)=2/20000\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e\u003cstrong\u003e(4)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e\u003cstrong\u003e(5)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e\u003cstrong\u003e(6)= 5/4\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002298\u0022\u003e\u003cp\u003e\u003cstrong\u003e(7)=3*6\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u002295\u0022\u003e\u003cp\u003eએક્સવાયઝેડ\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002278\u0022\u003e\u003cp\u003e1500\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e0.0750\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e15\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e18\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e1200\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002298\u0022\u003e\u003cp\u003e0.0900\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u002295\u0022\u003e\u003cp\u003eabc\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002278\u0022\u003e\u003cp\u003e3000\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e0.1500\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e20\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e22\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e1000\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002298\u0022\u003e\u003cp\u003e0.1650\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u002295\u0022\u003e\u003cp\u003eઈએફજી\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002278\u0022\u003e\u003cp\u003e8000\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e0.4000\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e40\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e45\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e1125\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002298\u0022\u003e\u003cp\u003e0.4500\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u002295\u0022\u003e\u003cp\u003eકેએલએમ\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002278\u0022\u003e\u003cp\u003e6250\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e0.3125\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e25\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e30\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e1200\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002298\u0022\u003e\u003cp\u003e0.3750\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u002295\u0022\u003e\u003cp\u003eનોપ\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002278\u0022\u003e\u003cp\u003e1250\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e0.0625\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e12.5\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e15\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e1200\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002298\u0022\u003e\u003cp\u003e0.0750\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u002295\u0022\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002278\u0022\u003e\u003cp\u003e\u003cstrong\u003e20,000\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e\u003cstrong\u003e1.000\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002297\u0022\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002298\u0022\u003e\u003cp\u003e\u003cstrong\u003e1.155\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cp\u003e\u003cstrong\u003eસુરક્ષા અને પોર્ટફોલિયો હોલ્ડિંગ-સમયગાળાની રિટર્ન\u003c/strong\u003e\u003c/p\u003e\u003ctable width=\u0022632\u0022\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd width=\u0022158\u0022\u003e\u003cp\u003e\u003cstrong\u003eસુરક્ષા\u003c/strong\u003e\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e(1)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022158\u0022\u003e\u003cp\u003e\u003cstrong\u003eપોર્ટફોલિયોના વર્તમાન મૂલ્યનો પ્રમાણ\u003c/strong\u003e\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e(2)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022147\u0022\u003e\u003cp\u003e\u003cstrong\u003eઅપેક્ષિત હોલ્ડિંગ અવધિ રિટર્ન (%)\u003c/strong\u003e\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e(3)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022169\u0022\u003e\u003cp\u003e\u003cstrong\u003eપોર્ટફોલિયોમાં અપેક્ષિત હોલ્ડિંગ પીરિયડ રિટર્ન (%) માં યોગદાન\u003c/strong\u003e\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e(4)= 2*3\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022158\u0022\u003e\u003cp\u003eએક્સવાયઝેડ\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022158\u0022\u003e\u003cp\u003e0.0750\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022147\u0022\u003e\u003cp\u003e20\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022169\u0022\u003e\u003cp\u003e1.50\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022158\u0022\u003e\u003cp\u003eabc\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022158\u0022\u003e\u003cp\u003e0.1500\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022147\u0022\u003e\u003cp\u003e10\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022169\u0022\u003e\u003cp\u003e1.50\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022158\u0022\u003e\u003cp\u003eઈએફજી\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022158\u0022\u003e\u003cp\u003e0.4000\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022147\u0022\u003e\u003cp\u003e12.5\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022169\u0022\u003e\u003cp\u003e5.00\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022158\u0022\u003e\u003cp\u003eકેએલએમ\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022158\u0022\u003e\u003cp\u003e0.3125\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022147\u0022\u003e\u003cp\u003e20\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022169\u0022\u003e\u003cp\u003e6.25\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022158\u0022\u003e\u003cp\u003eનોપ\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022158\u0022\u003e\u003cp\u003e0.0625\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022147\u0022\u003e\u003cp\u003e20\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022169\u0022\u003e\u003cp\u003e1.25\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022158\u0022\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022158\u0022\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022147\u0022\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022169\u0022\u003e\u003cp\u003e\u003cstrong\u003e15.50\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cp\u003eપોર્ટફોલિયોની અપેક્ષિત રિટર્ન તેની સિક્યોરિટીઝના અપેક્ષિત રિટર્નની સરેરાશ હોવાથી, પોર્ટફોલિયોના અપેક્ષિત રિટર્નમાં દરેક સિક્યોરિટીનું યોગદાન તેના અપેક્ષિત રિટર્ન અને પ્રારંભિક પોર્ટફોલિયોના બજાર મૂલ્યના તેના પ્રમાણસર શેર પર આધારિત છે. બીજું કંઈ સંબંધિત નથી. તે અનુસરે છે કે જે રોકાણકાર માત્ર સૌથી વધુ સંભવિત અપેક્ષિત વળતર ઈચ્છે છે તેમણે એક સુરક્ષા હોવી જોઈએ. આ એક એવું હોવું જોઈએ જેને સૌથી મોટું અપેક્ષિત રિટર્ન માનવામાં આવે છે. ખૂબ જ ઓછા રોકાણકારો આમ કરે છે, અને ખૂબ જ ઓછા રોકાણ સલાહકારો આવી અત્યંત પૉલિસીની સલાહ આપશે. તેના બદલે, રોકાણકારોએ વિવિધતા આપવી જોઈએ, એટલે કે તેમના પોર્ટફોલિયોમાં એકથી વધુ સુરક્ષા શામેલ હોવી જોઈએ. આનું કારણ છે કે વિવિધતા જોખમને ઘટાડી શકે છે.\u003c/p\u003e\u003c/div\u003e\u003cdiv id=\u0027text_slider_slide03\u0027 class=\u0027sa_hover_container\u0027 data-hash=\u0027Risk and Return Calculation\u0027 style=\u0027padding:4.9% 5%; margin:0px 0%; background-color:rgb(255, 255, 255); min-height:400px; \u0027\u003e\u003ch3 style=\u0022text-align: left\u0022\u003e\u003cstrong\u003e\u003cspan style=\u0022color: #f1566d\u0022\u003e5.3 જોખમ અને પરતની ગણતરી \u003ca href=\u0022https://www.5paisa.com/gujarati/finschool/wp-content/uploads/2022/01/Consulting-pana.svg\u0022\u003e\u003cimg loading=\u0022lazy\u0022 decoding=\u0022async\u0022 class=\u0022size-full wp-image-16526 aligncenter\u0022 role=\u0022img\u0022 src=\u0022http://www.5paisa.com/finschool/wp-content/uploads/2022/01/Consulting-pana.svg\u0022 alt=\u0022\u0022 width=\u0022750\u0022 height=\u0022500\u0022 /\u003e\u003c/a\u003e\u003cbr /\u003e\u003c/span\u003e\u003c/strong\u003e\u003c/h3\u003e\u003cp\u003eચાલો એકલ સુરક્ષાનું ઉદાહરણ લઈએ અને તેની પરતની ગણતરીને સમજીએ. નીચે આપેલ ટેબલ છેલ્લા 6 વર્ષોથી સેલ લિમિટેડના સરેરાશ માર્કેટ કિંમત અને ડિવિડન્ડ દર્શાવે છે:\u003c/p\u003e\u003ctable style=\u0022height: 423px\u0022 width=\u0022857\u0022\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp style=\u0022text-align: center\u0022\u003e\u003cstrong\u003eવર્ષ\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd style=\u0022text-align: center\u0022 width=\u0022200\u0022\u003e\u003cp\u003e\u003cstrong\u003eસરેરાશ માર્કેટ કિંમત\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd 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width=\u0022200\u0022\u003e\u003cp\u003e2019\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e70\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e4\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e2020\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e65\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e2\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e2021\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e80\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e2\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003cp style=\u0022text-align: left\u0022\u003eતેથી, સેલ લિમિટેડ માટે સરેરાશ રિટર્ન હશે:\u003c/p\u003e\u003ctable class=\u0022 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\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022109\u0022\u003e\u003cp\u003e\u003cstrong\u003e(1)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022119\u0022\u003e\u003cp\u003e\u003cstrong\u003e(2)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002289\u0022\u003e\u003cp\u003e\u003cstrong\u003e(3)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022100\u0022\u003e\u003cp\u003e\u003cstrong\u003e(4)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022100\u0022\u003e\u003cp\u003e\u003cstrong\u003e(5)\u003c/strong\u003e=4/2\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022100\u0022\u003e\u003cp\u003e\u003cstrong\u003e(6)\u003c/strong\u003e= 3+5\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022109\u0022\u003e\u003cp\u003e2016\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022119\u0022\u003e\u003cp\u003e50\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002289\u0022\u003e\u003cp\u003e\u0026#8211;\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022100\u0022\u003e\u003cp\u003e3\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022100\u0022\u003e\u003cp\u003e6.00%\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022100\u0022\u003e\u003cp\u003e\u0026#8211;\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022109\u0022\u003e\u003cp\u003e2017\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022119\u0022\u003e\u003cp\u003e55\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002289\u0022\u003e\u003cp\u003e10.00%\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022100\u0022\u003e\u003cp\u003e5\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022100\u0022\u003e\u003cp\u003e9.09%\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022100\u0022\u003e\u003cp\u003e19.09%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022109\u0022\u003e\u003cp\u003e2018\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022119\u0022\u003e\u003cp\u003e60\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002289\u0022\u003e\u003cp\u003e9.09%\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022100\u0022\u003e\u003cp\u003e2\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022100\u0022\u003e\u003cp\u003e3.33%\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022100\u0022\u003e\u003cp\u003e12.42%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022109\u0022\u003e\u003cp\u003e2019\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022119\u0022\u003e\u003cp\u003e70\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002289\u0022\u003e\u003cp\u003e7.69%\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022100\u0022\u003e\u003cp\u003e4\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022100\u0022\u003e\u003cp\u003e5.71%\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022100\u0022\u003e\u003cp\u003e13.41%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022109\u0022\u003e\u003cp style=\u0022text-align: left\u0022\u003e2020\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022119\u0022\u003e\u003cp\u003e65\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002289\u0022\u003e\u003cp\u003e-7.14%\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022100\u0022\u003e\u003cp\u003e2\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022100\u0022\u003e\u003cp\u003e3.07%\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022100\u0022\u003e\u003cp\u003e-4.07%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022109\u0022\u003e\u003cp\u003e2021\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022119\u0022\u003e\u003cp\u003e80\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002289\u0022\u003e\u003cp\u003e23.07%\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022100\u0022\u003e\u003cp\u003e2\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022100\u0022\u003e\u003cp\u003e2.50%\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022100\u0022\u003e\u003cp\u003e20.57%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cp\u003e\u003cstrong\u003eસરેરાશ રિટર્ન= (19.09+12.42+13.41-4.07+20.57)/5= 12.28%\u003c/strong\u003e\u003c/p\u003e\u003cp\u003eચાલો આ દરેક રિટર્ન થવાની કેટલીક સંભાવનાઓને ધ્યાનમાં રાખીને સેલ લિમિટેડ માટે સ્ટાન્ડર્ડ વિચલનની ગણતરી કરીએ\u003c/p\u003e\u003ctable width=\u0022100%\u0022\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd width=\u002218%\u0022\u003e\u003cp\u003e\u003cstrong\u003eવર્ષ\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e\u003cstrong\u003eરિટર્નનો દર \u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e\u003cstrong\u003eસંભવિતતા\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e\u003cstrong\u003eરિટર્નનો દર- સરેરાશ રિટર્ન\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e\u003cstrong\u003e(રિટર્નનો દર-સરેરાશ રિટર્ન)^2* P\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u002218%\u0022\u003e\u003cp\u003e\u003cstrong\u003e(1)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e\u003cstrong\u003e(2)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e\u003cstrong\u003e(3)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e\u003cstrong\u003e(4)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e\u003cstrong\u003e(5)= (4^2)*પી\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u002218%\u0022\u003e\u003cp\u003e2017\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e19.09%\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e0.35\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e6.81\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e16.210\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u002218%\u0022\u003e\u003cp\u003e2018\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e12.42%\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e0.10\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e0.14\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e0.0019\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u002218%\u0022\u003e\u003cp\u003e2019\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e13.41%\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e0.20\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e1.13\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e0.2552\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u002218%\u0022\u003e\u003cp\u003e2020\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e-4.07%\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e0.05\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e-16.35\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e13.360\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u002218%\u0022\u003e\u003cp\u003e2021\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e20.57%\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e0.30\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e8.29\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e20.634\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u002218%\u0022\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e1.00\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002220%\u0022\u003e\u003cp\u003e\u003cstrong\u003e50.447\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003cp\u003eસરેરાશ રિટર્ન= 12.28%\u003c/p\u003e\u003cp\u003eStandard Deviation= √\u003cstrong\u003e50.447 = \u003c/strong\u003e7.10%\u003c/p\u003e\u003c/div\u003e\u003cdiv id=\u0027text_slider_slide04\u0027 class=\u0027sa_hover_container\u0027 data-hash=\u0027Return calculation of Portfolio ( Two Assets)\u0027 style=\u0027padding:4.9% 5%; margin:0px 0%; background-color:rgb(255, 255, 255); min-height:400px; \u0027\u003e\u003ch3 style=\u0022text-align: left\u0022\u003e\u003cstrong\u003e\u003cspan style=\u0022color: #f1566d\u0022\u003e5.4 પોર્ટફોલિયોની રિટર્ન ગણતરી (બે એસેટ્સ)\u003c/span\u003e\u003c/strong\u003e\u003c/h3\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003cp\u003e\u003ca href=\u0022https://www.5paisa.com/gujarati/finschool/wp-content/uploads/2022/01/Consulting-pana.svg\u0022\u003e\u003cimg loading=\u0022lazy\u0022 decoding=\u0022async\u0022 class=\u0022size-full wp-image-16526 aligncenter\u0022 role=\u0022img\u0022 src=\u0022http://www.5paisa.com/finschool/wp-content/uploads/2022/01/Consulting-pana.svg\u0022 alt=\u0022\u0022 width=\u0022750\u0022 height=\u0022500\u0022 /\u003e\u003c/a\u003e\u003c/p\u003e\u003cp\u003eબે અથવા વધુ સિક્યોરિટીઝના પોર્ટફોલિયોમાંથી અપેક્ષિત રિટર્ન વ્યક્તિગત સિક્યોરિટીઝ તરફથી અપેક્ષિત રિટર્નના સરેરાશ સમાન છે.\u003c/p\u003e\u003cp\u003eક્યાં,\u003c/p\u003e\u003cp\u003eε(Rp)= Expected return from a portfolio of two securities\u003c/p\u003e\u003cp\u003eWa= સુરક્ષા A માં રોકાણ કરેલા ભંડોળનો પ્રમાણ\u003c/p\u003e\u003cp\u003eડબ્લ્યુબી= સુરક્ષા બીમાં રોકાણ કરેલા ભંડોળનો પ્રમાણ\u003c/p\u003e\u003cp\u003eRa = સિક્યોરિટી A નું અપેક્ષિત રિટર્ન\u003c/p\u003e\u003cp\u003eRb= સુરક્ષાનું અપેક્ષિત રિટર્ન B\u003c/p\u003e\u003cp\u003eWa+Wb=1\u003c/p\u003e\u003cp\u003eચાલો એક ઉદાહરણ લઈએ: શ્રીમતી રિધીના પોર્ટફોલિયોમાં 6 સિક્યોરિટીઝ શામેલ છે અને દરેક સિક્યોરિટીનું વ્યક્તિગત વજન અને રિટર્ન નીચે આપેલ છે.\u003c/p\u003e\u003ctable\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e\u003cstrong\u003eસુરક્ષા\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e\u003cstrong\u003eરોકાણનો પ્રમાણ\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e\u003cstrong\u003eરીટર્ન (%)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003eવિપ્રો\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e10%\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e18%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003eICICI બેંક\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e25%\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e12%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003eITC\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e8%\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e22%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003eટાટા મોટર્સ\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e30%\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e15%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003eHDFC બેંક\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e12%\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e6%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003eઆઇશર મોટર્સ\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e15%\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e8%\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cp\u003eસરેરાશ રિટર્ન હશે: (0.10*18)+(0.25*12)+(0.08*22)+(0.30*15)+(0.12*6)+(0.15*8)\u003c/p\u003e\u003cp\u003e\u003cstrong\u003e= 12.98%\u003c/strong\u003e\u003c/p\u003e\u003c/div\u003e\u003cdiv id=\u0027text_slider_slide05\u0027 class=\u0027sa_hover_container\u0027 data-hash=\u0027Risk calculation of Portfolio ( Two Assets)\u0027 style=\u0027padding:4.9% 5%; margin:0px 0%; background-color:rgb(255, 255, 255); min-height:400px; \u0027\u003e\u003ch3 style=\u0022text-align: left\u0022\u003e\u003cstrong\u003e\u003cspan style=\u0022color: #f1566d\u0022\u003e5.5 પોર્ટફોલિયોની રિટર્ન ગણતરી (બે એસેટ્સ)\u003c/span\u003e\u003c/strong\u003e\u003c/h3\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003cp\u003e\u003ca href=\u0022https://www.5paisa.com/gujarati/finschool/wp-content/uploads/2022/01/Consulting-pana.svg\u0022\u003e\u003cimg loading=\u0022lazy\u0022 decoding=\u0022async\u0022 class=\u0022size-full wp-image-16526 aligncenter\u0022 role=\u0022img\u0022 src=\u0022http://www.5paisa.com/finschool/wp-content/uploads/2022/01/Consulting-pana.svg\u0022 alt=\u0022\u0022 width=\u0022750\u0022 height=\u0022500\u0022 /\u003e\u003c/a\u003e\u003c/p\u003e\u003cp\u003eસુરક્ષાનું જોખમ તેના રિટર્નના વેરિયન્સ અથવા સ્ટાન્ડર્ડ વિચલનના સંદર્ભમાં માપવામાં આવે છે. પોર્ટફોલિયો જોખમ માત્ર તેના વજનવાળા સરેરાશ જોખમનું માપન નથી. પોર્ટફોલિયોમાં એકબીજા સાથે સંકળાયેલી સિક્યોરિટીઝ. પોર્ટફોલિયો જોખમ રોકાણના વળતર વચ્ચેના સહ-પ્રકારને પણ ધ્યાનમાં લે છે. બે સિક્યોરિટીઝનું કવરિયન્સ તેમના સહ-હલનચલનનું માપ છે; તે તે ડિગ્રી વ્યક્ત કરે છે કે જેના માટે સિક્યોરિટીઝ એકસાથે બદલાય છે.\u003c/p\u003e\u003cp\u003eબે-શેર પોર્ટફોલિયોના માનક વિચલનની ગણતરી નીચે આપેલા ફોર્મ્યુલાને લાગુ કરીને કરવામાં આવે છે:\u003c/p\u003e\u003cp\u003eસુરક્ષા A અને સુરક્ષા () ના કવરિયન્સને નીચે મુજબ પ્રસ્તુત કરી શકાય છે:\u003c/p\u003e\u003cp\u003eકોવાબ = qA qB PAB\u003c/p\u003e\u003cp\u003eબે-સુરક્ષા પોર્ટફોલિયોનો ઉપયોગ કરીને અવ્યવસ્થિત જોખમનું વિવિધતા, તે બે સિક્યોરિટીઝના વળતર વચ્ચેના સંબંધ પર આધારિત છે. સંબંધની માત્રા બે સિક્યોરિટીઝ (આરએબી)ના સંબંધ ગુણાંકની ગણતરી દ્વારા કરવામાં આવે છે. સંબંધનું મૂલ્ય – 1 થી 1 વચ્ચે હોય છે; તેને નીચે મુજબ અર્થઘટન કરી શકાય છે:\u003c/p\u003e\u003cp\u003eજો\u003c/p\u003e\u003cp\u003ePAB = 1, કોઈ અનસિસ્ટમેટિક રિસ્કને વિવિધતા આપી શકાતી નથી.\u003c/p\u003e\u003cp\u003eપીએબી = – 1, તમામ અવ્યવસ્થિત જોખમોને વિવિધતા આપી શકાય છે.\u003c/p\u003e\u003cp\u003ePAB = 0, સિક્યોરિટી A અને સિક્યોરિટી B ના રિટર્ન વચ્ચે કોઈ સંબંધ અસ્તિત્વમાં નથી.\u003c/p\u003e\u003cp\u003eપાછલા પાંચ વર્ષોથી વિપ્રો અને ઇન્ફોસિસની સુરક્ષાનું વળતર નીચે આપેલ છે:\u003c/p\u003e\u003ctable\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003eવર્ષ\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003eવિપ્રો રિટર્ન (%)\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003eઇન્ફોસિસ રિટર્ન (%)\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e2017\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e9\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e10\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e2018\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e5\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e-6\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e2019\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e3\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e12\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e2020\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e12\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e9\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e2021\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e16\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022200\u0022\u003e\u003cp\u003e15\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cp\u003e\u003cstrong\u003eવિપ્રોનું માનક રિટર્ન અને સ્ટાન્ડર્ડ વિચલન\u003c/strong\u003e\u003c/p\u003e\u003ctable\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd width=\u0022150\u0022\u003e\u003cp\u003e\u003cstrong\u003eવર્ષ\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022154\u0022\u003e\u003cp\u003e\u003cstrong\u003eવિપ્રો રિટર્ન (%)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022156\u0022\u003e\u003cp\u003e\u003cstrong\u003eમીન રિટર્ન- રિટર્ન\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022141\u0022\u003e\u003cp\u003e\u003cstrong\u003e(મીન-રિટર્ન)^2\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022150\u0022\u003e\u003cp\u003e2017\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022154\u0022\u003e\u003cp\u003e9\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022156\u0022\u003e\u003cp\u003e0\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022141\u0022\u003e\u003cp\u003e0\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022150\u0022\u003e\u003cp\u003e2018\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022154\u0022\u003e\u003cp\u003e5\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022156\u0022\u003e\u003cp\u003e-4\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022141\u0022\u003e\u003cp\u003e16\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022150\u0022\u003e\u003cp\u003e2019\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022154\u0022\u003e\u003cp\u003e3\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022156\u0022\u003e\u003cp\u003e-6\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022141\u0022\u003e\u003cp\u003e36\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022150\u0022\u003e\u003cp\u003e2020\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022154\u0022\u003e\u003cp\u003e12\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022156\u0022\u003e\u003cp\u003e3\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022141\u0022\u003e\u003cp\u003e9\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022150\u0022\u003e\u003cp\u003e2021\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022154\u0022\u003e\u003cp\u003e16\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022156\u0022\u003e\u003cp\u003e7\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022141\u0022\u003e\u003cp\u003e49\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022150\u0022\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022154\u0022\u003e\u003cp\u003e\u003cstrong\u003e45\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022156\u0022\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022141\u0022\u003e\u003cp\u003e110\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cp\u003eમીન રિટર્ન= 45/5= 9%\u003c/p\u003e\u003cp\u003eStandard Deviation= √\u003cstrong\u003e110= 10.49%\u003c/strong\u003e\u003c/p\u003e\u003cp\u003e\u003cstrong\u003eઇન્ફોસિસનું માનક રિટર્ન અને સ્ટાન્ડર્ડ વિચલન\u003c/strong\u003e\u003c/p\u003e\u003ctable\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd width=\u0022150\u0022\u003e\u003cp\u003e\u003cstrong\u003eવર્ષ\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022154\u0022\u003e\u003cp\u003e\u003cstrong\u003eઇન્ફોસિસ રિટર્ન (%)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022156\u0022\u003e\u003cp\u003e\u003cstrong\u003eમીન રિટર્ન- રિટર્ન\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022141\u0022\u003e\u003cp\u003e\u003cstrong\u003e(મીન-રિટર્ન)^2\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022150\u0022\u003e\u003cp\u003e2017\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022154\u0022\u003e\u003cp\u003e10\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022156\u0022\u003e\u003cp\u003e2\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022141\u0022\u003e\u003cp\u003e4\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022150\u0022\u003e\u003cp\u003e2018\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022154\u0022\u003e\u003cp\u003e-6\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022156\u0022\u003e\u003cp\u003e14\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022141\u0022\u003e\u003cp\u003e196\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022150\u0022\u003e\u003cp\u003e2019\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022154\u0022\u003e\u003cp\u003e12\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022156\u0022\u003e\u003cp\u003e4\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022141\u0022\u003e\u003cp\u003e16\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022150\u0022\u003e\u003cp\u003e2020\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022154\u0022\u003e\u003cp\u003e9\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022156\u0022\u003e\u003cp\u003e1\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022141\u0022\u003e\u003cp\u003e1\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022150\u0022\u003e\u003cp\u003e2021\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022154\u0022\u003e\u003cp\u003e15\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022156\u0022\u003e\u003cp\u003e7\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022141\u0022\u003e\u003cp\u003e49\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022150\u0022\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022154\u0022\u003e\u003cp\u003e\u003cstrong\u003e40\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022156\u0022\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022141\u0022\u003e\u003cp\u003e266\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003cp\u003eમીન રિટર્ન= 40/5= 8%\u003c/p\u003e\u003cp\u003eStandard Deviation= √\u003cstrong\u003e266= 16.31%\u003c/strong\u003e\u003c/p\u003e\u003cp\u003eવિશ્લેષણ - વિપ્રોમાં ઇન્ફોસિસની તુલનામાં વધુ ઐતિહાસિક સ્તરનું વળતર અને ઓછું જોખમ છે\u003c/p\u003e\u003cp\u003e\u003cstrong\u003eઇન્ફોસિસ અને વિપ્રોના રિટર્નના સહ-વેરિયન્સ\u003c/strong\u003e\u003c/p\u003e\u003ctable\u003e\u003ctbody\u003e\u003ctr\u003e\u003ctd width=\u0022102\u0022\u003e\u003cp\u003e\u003cstrong\u003eવર્ષ\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022110\u0022\u003e\u003cp\u003e\u003cstrong\u003eરિટર્ન A (%)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022111\u0022\u003e\u003cp\u003e\u003cstrong\u003eરિટર્ન B (%)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022101\u0022\u003e\u003cp\u003e\u003cstrong\u003e(RA નો સાધન- RA નું રિટર્ન)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002294\u0022\u003e\u003cp\u003e\u003cstrong\u003eઆરબી- રિટર્નનો માધ્યમ\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002284\u0022\u003e\u003cp\u003e\u003cstrong\u003e\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022102\u0022\u003e\u003cp\u003e\u003cstrong\u003e(1)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022110\u0022\u003e\u003cp\u003e\u003cstrong\u003e(2)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022111\u0022\u003e\u003cp\u003e\u003cstrong\u003e(3)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022101\u0022\u003e\u003cp\u003e\u003cstrong\u003e(4)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002294\u0022\u003e\u003cp\u003e\u003cstrong\u003e(5)\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002284\u0022\u003e\u003cp\u003e\u003cstrong\u003e(6)= 4*5\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022102\u0022\u003e\u003cp\u003e2017\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022110\u0022\u003e\u003cp\u003e9\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022111\u0022\u003e\u003cp\u003e10\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022101\u0022\u003e\u003cp\u003e0\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002294\u0022\u003e\u003cp\u003e2\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002284\u0022\u003e\u003cp\u003e0\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022102\u0022\u003e\u003cp\u003e2018\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022110\u0022\u003e\u003cp\u003e5\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022111\u0022\u003e\u003cp\u003e-6\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022101\u0022\u003e\u003cp\u003e-4\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002294\u0022\u003e\u003cp\u003e-14\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002284\u0022\u003e\u003cp\u003e56\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022102\u0022\u003e\u003cp\u003e2019\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022110\u0022\u003e\u003cp\u003e3\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022111\u0022\u003e\u003cp\u003e12\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022101\u0022\u003e\u003cp\u003e-6\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002294\u0022\u003e\u003cp\u003e4\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002284\u0022\u003e\u003cp\u003e-24\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022102\u0022\u003e\u003cp\u003e2020\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022110\u0022\u003e\u003cp\u003e12\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022111\u0022\u003e\u003cp\u003e9\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022101\u0022\u003e\u003cp\u003e3\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002294\u0022\u003e\u003cp\u003e1\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002284\u0022\u003e\u003cp\u003e3\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022102\u0022\u003e\u003cp\u003e2021\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022110\u0022\u003e\u003cp\u003e16\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022111\u0022\u003e\u003cp\u003e15\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022101\u0022\u003e\u003cp\u003e7\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002294\u0022\u003e\u003cp\u003e7\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002284\u0022\u003e\u003cp\u003e49\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003ctr\u003e\u003ctd width=\u0022102\u0022\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022110\u0022\u003e\u003cp\u003e\u003cstrong\u003eમીન- 9%\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022111\u0022\u003e\u003cp\u003e\u003cstrong\u003eમીન= 8%\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u0022101\u0022\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002294\u0022\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003c/td\u003e\u003ctd width=\u002284\u0022\u003e\u003cp\u003e\u003cstrong\u003eCOVab=84\u003c/strong\u003e\u003c/p\u003e\u003c/td\u003e\u003c/tr\u003e\u003c/tbody\u003e\u003c/table\u003e\u003cp\u003e\u003cstrong\u003eP\u003csub\u003eએબી\u003c/sub\u003e= સીઓવી\u003csub\u003eએબી\u003c/sub\u003e/ \u003c/strong\u003e\u003cstrong\u003eq\u003csub\u003eA \u003c/sub\u003e\u003c/strong\u003e\u003cstrong\u003eq\u003csub\u003eB\u003c/sub\u003e= 84/(10.49*16.31)= 0.491\u003c/strong\u003e\u003c/p\u003e\u003cp\u003e\u003cstrong\u003eસીઓવી\u003csub\u003eએબી\u003c/sub\u003e= \u003c/strong\u003e\u003cstrong\u003eq\u003csub\u003eA \u003c/sub\u003e\u003c/strong\u003e\u003cstrong\u003eq\u003csub\u003eB \u003c/sub\u003eP\u003csub\u003eએબી\u003c/sub\u003e= 10.49*16.31*0.491= 84\u003c/strong\u003e\u003c/p\u003e\u003cp\u003eપોર્ટફોલિયોનું રિટર્ન (Rp ) = (0.80 * 9) + (0.20* 8) = 7.2 + 1.6 = 8.8%\u003c/p\u003e\u003cp\u003eપોર્ટફોલિયોનું જોખમ (\u003cstrong\u003eq\u003csub\u003ep\u003c/sub\u003e\u003c/strong\u003e ) = (0.80\u003csup\u003e2\u003c/sup\u003e *10.49\u003csup\u003e2\u003c/sup\u003e ) + (0.20\u003csup\u003e2\u003c/sup\u003e *16.31\u003csup\u003e2\u003c/sup\u003e ) + (2 *0.80 * 0.20 * 10.49 * 16.31 * 0.491)\u003c/p\u003e\u003cp\u003e= (0.64 *110.04) + (0.04 * 266.02) + 26.88\u003c/p\u003e\u003cp\u003e= 70.43 + 10.64 + 26.88 = 107.95\u003c/p\u003e\u003cp\u003e(\u003cstrong\u003eq\u003c/strong\u003e\u003cstrong\u003e\u003csub\u003ep\u003c/sub\u003e\u003c/strong\u003e ) = \u003cstrong\u003e√\u003c/strong\u003e107.95 = 10.39%\u003c/p\u003e\u003cp\u003e\u0026nbsp;\u003c/p\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003cscript type=\u0027text/javascript\u0027\u003ejQuery(document).ready(function()  {jQuery(\u0027#text_slider\u0027).owlCarousel({items  :  1,smartSpeed  :  400,autoplay  :  false,autoplayHoverPause  :  false,smartSpeed  :  400,fluidSpeed  :  400,autoplaySpeed  :  400,navSpeed  :  400,dotsSpeed  :  400,dotsEach  :  1,loop  :  false,nav  :  true,navText  :  [\u0027Previous\u0027,\u0027Next\u0027],dots  :  true,responsiveRefreshRate  :  200,slideBy  :  1,mergeFit  :  true,autoHeight  :  true,mouseDrag  :  false,touchDrag  :  true});jQuery(\u0027#text_slider\u0027).css(\u0027visibility\u0027, \u0027visible\u0027);var  owl_goto  =  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