. In the longer run, however, a trade-off between diversification and climate action emerges. We derive the optimal carbon …

documented that diversification among risky assets in a particular country leads to risk reduction, but the potential gains are … limited due to high correlations within an economy. Therefore, international portfolio diversification, primarily in stocks … contracts to the international dimension. The findings lend support to the arguments in favor of international diversification …

(FOFs). In this paper we examine a new database that separates out for the first time the effects of diversification (the … variance reducing effects of diversification peter out once FOFs hold more than 20 underlying hedge funds. Yet the majority of … FOFs are more diversified than this. We find a new and surprising result that this excess diversification actually …

The evidence for international diversification as a means to curtail portfolio risk relies predominantly on short … international diversification to be attenuated. Increasing long-run correlation is modeled as a function of short-run data … accounting for characteristics pervasive in financial time series. This indicates that perceived risk reduction benefits may be …

diversification of the equity segment of an investor's portfolio. We find that for investors with a U.S.-only stock segment in their … markets would be beneficial. The additional diversification and return benefits from extending to developed ex-U.S. small and …

dependence. The benefits from international diversification have reduced over time, drastically so for DMs. EMs still offer …. We propose new measures of dynamic diversification benefits that take into account higher order moments and nonlinear … significant diversification benefits, especially during large market downturns …