international diversification. We find that countries with stronger ETF price discovery and lower limits to arbitrage have a higher …

(Markowitz) diversification in a portfolio of four popular cryptocurrencies. We employ weekly data with weekly rebalancing and … show there is very little to select between naïve diversification and optimal diversification. Our results hold for …

diversification benefits across industries and countries. We document a substantial increase in the number and the market value of … stocks in host countries allows domestic investors to increase their international diversification from home by investing in … investments offers an effective substitute for international diversification, and significantly contributes towards increasing the …

the first application of stable distributions to real estate portfolio returns provides evidence that diversification … diversification effects in property portfolios, and only to a certain time-dependent extent. The results have strong implications for …

Vermorken et al. (2012) introduce a new measure of diversification, the Diversification Delta based on the empirical … suggested Diversification Delta measure has a number of drawbacks that we highlight in this article. We also propose an …

portfolio's diversification across the given sector. We employed regression analysis to analyze diversification across each ETF …

their diversification properties are also important. However, adding five alternative assets (real estate, commodities … diversification into alternatives is not primarily due to transactions costs or non-normality, but to estimation risk. This is larger … for alternative assets, particularly during the credit crisis which accounts for the harmful diversification of real …

A widely applied diversification paradigm is the naive diversification choice heuristic. It stipulates that an economic … article provides mathematically and economically sound choice theoretic foundations for the naive approach to diversification …. We axiomatize naive diversification by defining it as a preference for equality over inequality, derive its relationship …