diversification is not an easy task as it is impacted by a huge number of different factors: the way systematic risk is measured, the … of the asset features, the model adopted to measure diversification (i.e., equally weighted versus optimal allocation …

, most previous analysis has focused on regional diversification by applying the traditional mean-variance (MV) framework …

individual portfolios and later compared to the hypothetical common equity index. The results show diversification benefits …Diversification of financial securities is considered a substantial element of portfolio risk. In this context, the … January 1, 2008 to December 31, 2018. The results indicate that, on average, the most well-diversified equity indexes are IBEX …

This study focuses on the diversification benefits of the most developed equity markets of Central and Eastern Europe … (CEE). To evaluate these benefits of diversification we use so-called spanning tests based on a stochastic discount factor … our case the returns of CEE equity markets) can be mimicked by the returns of some benchmark assets. If this is possible …