id	sid	tid	token	lemma	pos
aijes-7163	1	1	agora	agora	PROPN
aijes-7163	1	2	international	international	PROPN
aijes-7163	1	3	journal	journal	NOUN
aijes-7163	1	4	of	of	ADP
aijes-7163	1	5	economical	economical	ADJ
aijes-7163	1	6	sciences	science	NOUN
aijes-7163	1	7	,	,	PUNCT
aijes-7163	1	8	http://univagora.ro/jour/index.php/aijes	http://univagora.ro/jour/index.php/aijes	PRON
aijes-7163	1	9	issn	issn	PROPN
aijes-7163	1	10	2067	2067	NUM
aijes-7163	1	11	-	-	SYM
aijes-7163	1	12	3310	3310	NUM
aijes-7163	1	13	,	,	PUNCT
aijes-7163	1	14	e	e	X
aijes-7163	1	15	-	-	PUNCT
aijes-7163	1	16	issn	issn	PROPN
aijes-7163	1	17	2067	2067	NUM
aijes-7163	1	18	-	-	SYM
aijes-7163	1	19	7669	7669	NUM
aijes-7163	1	20	vol	vol	NOUN
aijes-7163	1	21	.	.	PROPN
aijes-7163	1	22	19	19	NUM
aijes-7163	1	23	,	,	PUNCT
aijes-7163	1	24	no	no	INTJ
aijes-7163	1	25	.	.	NOUN
aijes-7163	1	26	1	1	NUM
aijes-7163	1	27	(	(	PUNCT
aijes-7163	1	28	2025	2025	NUM
aijes-7163	1	29	)	)	PUNCT
aijes-7163	1	30	,	,	PUNCT
aijes-7163	1	31	pp	pp	PROPN
aijes-7163	1	32	.	.	PUNCT
aijes-7163	1	33	329	329	NUM
aijes-7163	1	34	-	-	SYM
aijes-7163	1	35	340	340	NUM
aijes-7163	1	36	329	329	NUM
aijes-7163	1	37	exchange	exchange	NOUN
aijes-7163	1	38	-	-	PUNCT
aijes-7163	1	39	traded	trade	VERB
aijes-7163	1	40	funds	fund	NOUN
aijes-7163	1	41	(	(	PUNCT
aijes-7163	1	42	etfs	etfs	NOUN
aijes-7163	1	43	)	)	PUNCT
aijes-7163	1	44	optimization	optimization	NOUN
aijes-7163	1	45	with	with	ADP
aijes-7163	1	46	risk	risk	NOUN
aijes-7163	1	47	parity	parity	NOUN
aijes-7163	1	48	strategies	strategy	NOUN
aijes-7163	1	49	d.	d.	PROPN
aijes-7163	1	50	veliu	veliu	PROPN
aijes-7163	1	51	denis	denis	PROPN
aijes-7163	1	52	veliu	veliu	VERB
aijes-7163	1	53	universiteti	universiteti	PROPN
aijes-7163	1	54	metropolitan	metropolitan	PROPN
aijes-7163	1	55	tirana	tirana	PROPN
aijes-7163	1	56	,	,	PUNCT
aijes-7163	1	57	albania	albania	PROPN
aijes-7163	1	58	https://orcid.org/0000-0002-6930-7292	https://orcid.org/0000-0002-6930-7292	PROPN
aijes-7163	1	59	,	,	PUNCT
aijes-7163	1	60	e	e	NOUN
aijes-7163	1	61	-	-	NOUN
aijes-7163	1	62	mail	mail	NOUN
aijes-7163	1	63	:	:	PUNCT
aijes-7163	1	64	dveliu@umt.edu.al	dveliu@umt.edu.al	PROPN
aijes-7163	1	65	abstract	abstract	NOUN
aijes-7163	1	66	:	:	PUNCT
aijes-7163	1	67	this	this	DET
aijes-7163	1	68	paper	paper	NOUN
aijes-7163	1	69	explores	explore	VERB
aijes-7163	1	70	the	the	DET
aijes-7163	1	71	application	application	NOUN
aijes-7163	1	72	of	of	ADP
aijes-7163	1	73	the	the	DET
aijes-7163	1	74	risk	risk	NOUN
aijes-7163	1	75	parity	parity	NOUN
aijes-7163	1	76	methodology	methodology	NOUN
aijes-7163	1	77	to	to	ADP
aijes-7163	1	78	portfolios	portfolio	NOUN
aijes-7163	1	79	constructed	construct	VERB
aijes-7163	1	80	using	use	VERB
aijes-7163	1	81	exchange	exchange	NOUN
aijes-7163	1	82	-	-	PUNCT
aijes-7163	1	83	traded	trade	VERB
aijes-7163	1	84	funds	fund	NOUN
aijes-7163	1	85	(	(	PUNCT
aijes-7163	1	86	etfs	etfs	PROPN
aijes-7163	1	87	)	)	PUNCT
aijes-7163	1	88	.	.	PUNCT
aijes-7163	2	1	in	in	ADP
aijes-7163	2	2	the	the	DET
aijes-7163	2	3	world	world	NOUN
aijes-7163	2	4	where	where	SCONJ
aijes-7163	2	5	the	the	DET
aijes-7163	2	6	market	market	NOUN
aijes-7163	2	7	is	be	AUX
aijes-7163	2	8	becoming	become	VERB
aijes-7163	2	9	more	more	ADV
aijes-7163	2	10	and	and	CCONJ
aijes-7163	2	11	more	more	ADV
aijes-7163	2	12	global	global	ADJ
aijes-7163	2	13	,	,	PUNCT
aijes-7163	2	14	it	it	PRON
aijes-7163	2	15	is	be	AUX
aijes-7163	2	16	becoming	become	VERB
aijes-7163	2	17	more	more	ADV
aijes-7163	2	18	dynamic	dynamic	ADJ
aijes-7163	2	19	in	in	ADP
aijes-7163	2	20	terms	term	NOUN
aijes-7163	2	21	of	of	ADP
aijes-7163	2	22	portoflio	portoflio	ADJ
aijes-7163	2	23	recalibrations	recalibration	NOUN
aijes-7163	2	24	,	,	PUNCT
aijes-7163	2	25	bringing	bring	VERB
aijes-7163	2	26	resilience	resilience	NOUN
aijes-7163	2	27	in	in	ADP
aijes-7163	2	28	terms	term	NOUN
aijes-7163	2	29	of	of	ADP
aijes-7163	2	30	values	value	NOUN
aijes-7163	2	31	.	.	PUNCT
aijes-7163	3	1	in	in	ADP
aijes-7163	3	2	other	other	ADJ
aijes-7163	3	3	words	word	NOUN
aijes-7163	3	4	,	,	PUNCT
aijes-7163	3	5	is	be	AUX
aijes-7163	3	6	it	it	PRON
aijes-7163	3	7	important	important	ADJ
aijes-7163	3	8	to	to	PART
aijes-7163	3	9	consider	consider	VERB
aijes-7163	3	10	only	only	ADV
aijes-7163	3	11	a	a	DET
aijes-7163	3	12	short	short	ADJ
aijes-7163	3	13	holding	holding	NOUN
aijes-7163	3	14	period	period	NOUN
aijes-7163	3	15	,	,	PUNCT
aijes-7163	3	16	and	and	CCONJ
aijes-7163	3	17	adapt	adapt	VERB
aijes-7163	3	18	the	the	DET
aijes-7163	3	19	asset	asset	NOUN
aijes-7163	3	20	allocationn	allocationn	NOUN
aijes-7163	3	21	.	.	PUNCT
aijes-7163	4	1	in	in	ADP
aijes-7163	4	2	opposition	opposition	NOUN
aijes-7163	4	3	to	to	ADP
aijes-7163	4	4	typical	typical	ADJ
aijes-7163	4	5	capital	capital	NOUN
aijes-7163	4	6	-	-	PUNCT
aijes-7163	4	7	weighted	weight	VERB
aijes-7163	4	8	techniques	technique	NOUN
aijes-7163	4	9	,	,	PUNCT
aijes-7163	4	10	risk	risk	NOUN
aijes-7163	4	11	parity	parity	NOUN
aijes-7163	4	12	reallocates	reallocate	VERB
aijes-7163	4	13	portfolio	portfolio	NOUN
aijes-7163	4	14	weights	weight	NOUN
aijes-7163	4	15	to	to	PART
aijes-7163	4	16	ensure	ensure	VERB
aijes-7163	4	17	that	that	SCONJ
aijes-7163	4	18	each	each	DET
aijes-7163	4	19	asset	asset	NOUN
aijes-7163	4	20	contributes	contribute	VERB
aijes-7163	4	21	an	an	DET
aijes-7163	4	22	equal	equal	ADJ
aijes-7163	4	23	amount	amount	NOUN
aijes-7163	4	24	of	of	ADP
aijes-7163	4	25	risk	risk	NOUN
aijes-7163	4	26	.	.	PUNCT
aijes-7163	5	1	the	the	DET
aijes-7163	5	2	study	study	NOUN
aijes-7163	5	3	builds	build	VERB
aijes-7163	5	4	and	and	CCONJ
aijes-7163	5	5	assesses	assess	VERB
aijes-7163	5	6	risk	risk	NOUN
aijes-7163	5	7	parity	parity	NOUN
aijes-7163	5	8	portfolios	portfolio	NOUN
aijes-7163	5	9	using	use	VERB
aijes-7163	5	10	ten	ten	NUM
aijes-7163	5	11	assets	asset	NOUN
aijes-7163	5	12	that	that	PRON
aijes-7163	5	13	comprise	comprise	VERB
aijes-7163	5	14	the	the	DET
aijes-7163	5	15	majority	majority	NOUN
aijes-7163	5	16	of	of	ADP
aijes-7163	5	17	the	the	DET
aijes-7163	5	18	ea	ea	PROPN
aijes-7163	5	19	bridgeway	bridgeway	ADJ
aijes-7163	5	20	blue	blue	ADJ
aijes-7163	5	21	chip	chip	NOUN
aijes-7163	5	22	etf	etf	NOUN
aijes-7163	5	23	(	(	PUNCT
aijes-7163	5	24	bblu	bblu	NOUN
aijes-7163	5	25	)	)	PUNCT
aijes-7163	5	26	.	.	PUNCT
aijes-7163	6	1	the	the	DET
aijes-7163	6	2	process	process	NOUN
aijes-7163	6	3	entails	entail	VERB
aijes-7163	6	4	assessing	assess	VERB
aijes-7163	6	5	the	the	DET
aijes-7163	6	6	volatilities	volatility	NOUN
aijes-7163	6	7	and	and	CCONJ
aijes-7163	6	8	correlations	correlation	NOUN
aijes-7163	6	9	of	of	ADP
aijes-7163	6	10	specific	specific	ADJ
aijes-7163	6	11	etfs	etfs	NOUN
aijes-7163	6	12	,	,	PUNCT
aijes-7163	6	13	adjusting	adjust	VERB
aijes-7163	6	14	portfolio	portfolio	NOUN
aijes-7163	6	15	weights	weight	NOUN
aijes-7163	6	16	to	to	PART
aijes-7163	6	17	balance	balance	VERB
aijes-7163	6	18	risk	risk	NOUN
aijes-7163	6	19	contributions	contribution	NOUN
aijes-7163	6	20	,	,	PUNCT
aijes-7163	6	21	and	and	CCONJ
aijes-7163	6	22	back	back	NOUN
aijes-7163	6	23	testing	testing	NOUN
aijes-7163	6	24	performance	performance	NOUN
aijes-7163	6	25	under	under	ADP
aijes-7163	6	26	different	different	ADJ
aijes-7163	6	27	market	market	NOUN
aijes-7163	6	28	scenarios	scenario	NOUN
aijes-7163	6	29	.	.	PUNCT
aijes-7163	7	1	empirical	empirical	ADJ
aijes-7163	7	2	data	datum	NOUN
aijes-7163	7	3	shows	show	VERB
aijes-7163	7	4	that	that	SCONJ
aijes-7163	7	5	risk	risk	NOUN
aijes-7163	7	6	parity	parity	NOUN
aijes-7163	7	7	portfolios	portfolio	NOUN
aijes-7163	7	8	outperform	outperform	VERB
aijes-7163	7	9	standard	standard	ADJ
aijes-7163	7	10	allocation	allocation	NOUN
aijes-7163	7	11	approaches	approach	NOUN
aijes-7163	7	12	in	in	ADP
aijes-7163	7	13	terms	term	NOUN
aijes-7163	7	14	of	of	ADP
aijes-7163	7	15	diversification	diversification	NOUN
aijes-7163	7	16	,	,	PUNCT
aijes-7163	7	17	drawdowns	drawdown	NOUN
aijes-7163	7	18	,	,	PUNCT
aijes-7163	7	19	and	and	CCONJ
aijes-7163	7	20	the	the	DET
aijes-7163	7	21	stability	stability	NOUN
aijes-7163	7	22	of	of	ADP
aijes-7163	7	23	risk	risk	NOUN
aijes-7163	7	24	-	-	PUNCT
aijes-7163	7	25	adjusted	adjust	VERB
aijes-7163	7	26	returns	return	NOUN
aijes-7163	7	27	.	.	PUNCT
aijes-7163	8	1	this	this	DET
aijes-7163	8	2	research	research	NOUN
aijes-7163	8	3	illustrates	illustrate	VERB
aijes-7163	8	4	risk	risk	NOUN
aijes-7163	8	5	parity	parity	NOUN
aijes-7163	8	6	's	's	PART
aijes-7163	8	7	potential	potential	NOUN
aijes-7163	8	8	as	as	ADP
aijes-7163	8	9	a	a	DET
aijes-7163	8	10	strong	strong	ADJ
aijes-7163	8	11	framework	framework	NOUN
aijes-7163	8	12	for	for	ADP
aijes-7163	8	13	managing	manage	VERB
aijes-7163	8	14	etf	etf	NOUN
aijes-7163	8	15	portfolios	portfolio	NOUN
aijes-7163	8	16	in	in	ADP
aijes-7163	8	17	both	both	CCONJ
aijes-7163	8	18	institutional	institutional	ADJ
aijes-7163	8	19	and	and	CCONJ
aijes-7163	8	20	individual	individual	ADJ
aijes-7163	8	21	investing	investing	NOUN
aijes-7163	8	22	settings	setting	NOUN
aijes-7163	8	23	.	.	PUNCT
aijes-7163	9	1	keywords	keyword	NOUN
aijes-7163	9	2	:	:	PUNCT
aijes-7163	9	3	risk	risk	NOUN
aijes-7163	9	4	parity	parity	NOUN
aijes-7163	9	5	,	,	PUNCT
aijes-7163	9	6	etf	etf	NOUN
aijes-7163	9	7	,	,	PUNCT
aijes-7163	9	8	portfolio	portfolio	NOUN
aijes-7163	9	9	optimization	optimization	NOUN
aijes-7163	9	10	,	,	PUNCT
aijes-7163	9	11	asset	asset	NOUN
aijes-7163	9	12	allocation	allocation	NOUN
aijes-7163	9	13	,	,	PUNCT
aijes-7163	9	14	risk	risk	NOUN
aijes-7163	9	15	.	.	PUNCT
aijes-7163	10	1	introduction	introduction	NOUN
aijes-7163	10	2	modern	modern	ADJ
aijes-7163	10	3	finance	finance	NOUN
aijes-7163	10	4	focuses	focus	VERB
aijes-7163	10	5	on	on	ADP
aijes-7163	10	6	risk	risk	NOUN
aijes-7163	10	7	management	management	NOUN
aijes-7163	10	8	and	and	CCONJ
aijes-7163	10	9	portfolio	portfolio	NOUN
aijes-7163	10	10	development	development	NOUN
aijes-7163	10	11	.	.	PUNCT
aijes-7163	11	1	traditional	traditional	ADJ
aijes-7163	11	2	portfolio	portfolio	NOUN
aijes-7163	11	3	allocation	allocation	NOUN
aijes-7163	11	4	approaches	approach	NOUN
aijes-7163	11	5	,	,	PUNCT
aijes-7163	11	6	such	such	ADJ
aijes-7163	11	7	as	as	ADP
aijes-7163	11	8	the	the	DET
aijes-7163	11	9	60/40	60/40	NUM
aijes-7163	11	10	equity	equity	NOUN
aijes-7163	11	11	-	-	PUNCT
aijes-7163	11	12	bond	bond	NOUN
aijes-7163	11	13	split	split	NOUN
aijes-7163	11	14	,	,	PUNCT
aijes-7163	11	15	prioritize	prioritize	VERB
aijes-7163	11	16	capital	capital	NOUN
aijes-7163	11	17	allocation	allocation	NOUN
aijes-7163	11	18	,	,	PUNCT
aijes-7163	11	19	which	which	PRON
aijes-7163	11	20	frequently	frequently	ADV
aijes-7163	11	21	results	result	VERB
aijes-7163	11	22	in	in	ADP
aijes-7163	11	23	an	an	DET
aijes-7163	11	24	imbalance	imbalance	NOUN
aijes-7163	11	25	in	in	ADP
aijes-7163	11	26	risk	risk	NOUN
aijes-7163	11	27	contributions	contribution	NOUN
aijes-7163	11	28	across	across	ADP
aijes-7163	11	29	asset	asset	NOUN
aijes-7163	11	30	classes	class	NOUN
aijes-7163	11	31	(	(	PUNCT
aijes-7163	11	32	maillard	maillard	NOUN
aijes-7163	11	33	et	et	PROPN
aijes-7163	11	34	al	al	PROPN
aijes-7163	11	35	.	.	PROPN
aijes-7163	11	36	,	,	PUNCT
aijes-7163	11	37	2010	2010	NUM
aijes-7163	11	38	,	,	PUNCT
aijes-7163	11	39	pp.2	pp.2	PROPN
aijes-7163	11	40	)	)	PUNCT
aijes-7163	11	41	.	.	PUNCT
aijes-7163	12	1	this	this	DET
aijes-7163	12	2	strategy	strategy	NOUN
aijes-7163	12	3	can	can	AUX
aijes-7163	12	4	lead	lead	VERB
aijes-7163	12	5	to	to	ADP
aijes-7163	12	6	an	an	DET
aijes-7163	12	7	overreliance	overreliance	NOUN
aijes-7163	12	8	on	on	ADP
aijes-7163	12	9	more	more	ADJ
aijes-7163	12	10	volatile	volatile	ADJ
aijes-7163	12	11	assets	asset	NOUN
aijes-7163	12	12	,	,	PUNCT
aijes-7163	12	13	such	such	ADJ
aijes-7163	12	14	as	as	ADP
aijes-7163	12	15	stocks	stock	NOUN
aijes-7163	12	16	,	,	PUNCT
aijes-7163	12	17	while	while	SCONJ
aijes-7163	12	18	undervaluing	undervalue	VERB
aijes-7163	12	19	the	the	DET
aijes-7163	12	20	potential	potential	ADJ
aijes-7163	12	21	diversification	diversification	NOUN
aijes-7163	12	22	benefits	benefit	NOUN
aijes-7163	12	23	of	of	ADP
aijes-7163	12	24	less	less	ADV
aijes-7163	12	25	volatile	volatile	ADJ
aijes-7163	12	26	asset	asset	NOUN
aijes-7163	12	27	classes	class	NOUN
aijes-7163	12	28	,	,	PUNCT
aijes-7163	12	29	such	such	ADJ
aijes-7163	12	30	as	as	ADP
aijes-7163	12	31	bonds	bond	NOUN
aijes-7163	12	32	or	or	CCONJ
aijes-7163	12	33	commodities	commodity	NOUN
aijes-7163	12	34	.	.	PUNCT
aijes-7163	13	1	risk	risk	NOUN
aijes-7163	13	2	parity	parity	NOUN
aijes-7163	13	3	(	(	PUNCT
aijes-7163	13	4	rp	rp	NOUN
aijes-7163	13	5	)	)	PUNCT
aijes-7163	13	6	provides	provide	VERB
aijes-7163	13	7	an	an	DET
aijes-7163	13	8	alternative	alternative	ADJ
aijes-7163	13	9	paradigm	paradigm	NOUN
aijes-7163	13	10	that	that	PRON
aijes-7163	13	11	reallocates	reallocate	VERB
aijes-7163	13	12	weights	weight	NOUN
aijes-7163	13	13	to	to	PART
aijes-7163	13	14	ensure	ensure	VERB
aijes-7163	13	15	that	that	SCONJ
aijes-7163	13	16	each	each	DET
aijes-7163	13	17	asset	asset	NOUN
aijes-7163	13	18	contributes	contribute	VERB
aijes-7163	13	19	equally	equally	ADV
aijes-7163	13	20	to	to	ADP
aijes-7163	13	21	overall	overall	ADJ
aijes-7163	13	22	portfolio	portfolio	NOUN
aijes-7163	13	23	risk	risk	NOUN
aijes-7163	13	24	,	,	PUNCT
aijes-7163	13	25	resulting	result	VERB
aijes-7163	13	26	in	in	ADP
aijes-7163	13	27	a	a	DET
aijes-7163	13	28	more	more	ADV
aijes-7163	13	29	balanced	balanced	ADJ
aijes-7163	13	30	and	and	CCONJ
aijes-7163	13	31	diversified	diversify	VERB
aijes-7163	13	32	portfolio	portfolio	NOUN
aijes-7163	13	33	structure	structure	NOUN
aijes-7163	13	34	(	(	PUNCT
aijes-7163	13	35	qian	qian	PROPN
aijes-7163	13	36	,	,	PUNCT
aijes-7163	13	37	2011	2011	NUM
aijes-7163	13	38	,	,	PUNCT
aijes-7163	13	39	pp.2	pp.2	PROPN
aijes-7163	13	40	)	)	PUNCT
aijes-7163	13	41	.	.	PUNCT
aijes-7163	14	1	the	the	DET
aijes-7163	14	2	application	application	NOUN
aijes-7163	14	3	of	of	ADP
aijes-7163	14	4	risk	risk	NOUN
aijes-7163	14	5	parity	parity	NOUN
aijes-7163	14	6	to	to	ADP
aijes-7163	14	7	portfolios	portfolio	NOUN
aijes-7163	14	8	built	build	VERB
aijes-7163	14	9	with	with	ADP
aijes-7163	14	10	exchange	exchange	NOUN
aijes-7163	14	11	-	-	PUNCT
aijes-7163	14	12	traded	trade	VERB
aijes-7163	14	13	funds	fund	NOUN
aijes-7163	14	14	(	(	PUNCT
aijes-7163	14	15	etfs	etfs	PROPN
aijes-7163	14	16	)	)	PUNCT
aijes-7163	14	17	is	be	AUX
aijes-7163	14	18	a	a	DET
aijes-7163	14	19	significant	significant	ADJ
aijes-7163	14	20	step	step	NOUN
aijes-7163	14	21	toward	toward	ADP
aijes-7163	14	22	implementing	implement	VERB
aijes-7163	14	23	advanced	advanced	ADJ
aijes-7163	14	24	portfolio	portfolio	NOUN
aijes-7163	14	25	methods	method	NOUN
aijes-7163	14	26	.	.	PUNCT
aijes-7163	15	1	etfs	etfs	PROPN
aijes-7163	15	2	are	be	AUX
aijes-7163	15	3	well	well	ADV
aijes-7163	15	4	-	-	PUNCT
aijes-7163	15	5	known	know	VERB
aijes-7163	15	6	for	for	ADP
aijes-7163	15	7	their	their	PRON
aijes-7163	15	8	cost	cost	NOUN
aijes-7163	15	9	-	-	PUNCT
aijes-7163	15	10	effectiveness	effectiveness	NOUN
aijes-7163	15	11	,	,	PUNCT
aijes-7163	15	12	liquidity	liquidity	NOUN
aijes-7163	15	13	,	,	PUNCT
aijes-7163	15	14	and	and	CCONJ
aijes-7163	15	15	accessibility	accessibility	NOUN
aijes-7163	15	16	,	,	PUNCT
aijes-7163	15	17	making	make	VERB
aijes-7163	15	18	them	they	PRON
aijes-7163	15	19	an	an	DET
aijes-7163	15	20	excellent	excellent	ADJ
aijes-7163	15	21	vehicle	vehicle	NOUN
aijes-7163	15	22	for	for	ADP
aijes-7163	15	23	adopting	adopt	VERB
aijes-7163	15	24	systematic	systematic	ADJ
aijes-7163	15	25	approaches	approach	NOUN
aijes-7163	15	26	such	such	ADJ
aijes-7163	15	27	as	as	ADP
aijes-7163	15	28	risk	risk	NOUN
aijes-7163	15	29	parity	parity	NOUN
aijes-7163	15	30	.	.	PUNCT
aijes-7163	16	1	etfs	etfs	PROPN
aijes-7163	16	2	also	also	ADV
aijes-7163	16	3	give	give	VERB
aijes-7163	16	4	exposure	exposure	NOUN
aijes-7163	16	5	to	to	ADP
aijes-7163	16	6	a	a	DET
aijes-7163	16	7	diverse	diverse	ADJ
aijes-7163	16	8	variety	variety	NOUN
aijes-7163	16	9	of	of	ADP
aijes-7163	16	10	asset	asset	NOUN
aijes-7163	16	11	classes	class	NOUN
aijes-7163	16	12	,	,	PUNCT
aijes-7163	16	13	such	such	ADJ
aijes-7163	16	14	as	as	ADP
aijes-7163	16	15	stocks	stock	NOUN
aijes-7163	16	16	,	,	PUNCT
aijes-7163	16	17	bonds	bond	NOUN
aijes-7163	16	18	,	,	PUNCT
aijes-7163	16	19	commodities	commodity	NOUN
aijes-7163	16	20	,	,	PUNCT
aijes-7163	16	21	and	and	CCONJ
aijes-7163	16	22	real	real	ADJ
aijes-7163	16	23	estate	estate	NOUN
aijes-7163	16	24	,	,	PUNCT
aijes-7163	16	25	which	which	PRON
aijes-7163	16	26	is	be	AUX
aijes-7163	16	27	critical	critical	ADJ
aijes-7163	16	28	for	for	ADP
aijes-7163	16	29	attaining	attain	VERB
aijes-7163	16	30	broad	broad	ADJ
aijes-7163	16	31	diversification	diversification	NOUN
aijes-7163	16	32	(	(	PUNCT
aijes-7163	16	33	hill	hill	NOUN
aijes-7163	16	34	et	et	PROPN
aijes-7163	16	35	al	al	PROPN
aijes-7163	16	36	.	.	PROPN
aijes-7163	16	37	,	,	PUNCT
aijes-7163	16	38	2015	2015	NUM
aijes-7163	16	39	,	,	PUNCT
aijes-7163	16	40	pp.6	pp.6	PROPN
aijes-7163	16	41	)	)	PUNCT
aijes-7163	16	42	.	.	PUNCT
aijes-7163	17	1	this	this	DET
aijes-7163	17	2	article	article	NOUN
aijes-7163	17	3	brings	bring	VERB
aijes-7163	17	4	at	at	ADP
aijes-7163	17	5	the	the	DET
aijes-7163	17	6	practical	practical	ADJ
aijes-7163	17	7	use	use	NOUN
aijes-7163	17	8	of	of	ADP
aijes-7163	17	9	the	the	DET
aijes-7163	17	10	risk	risk	NOUN
aijes-7163	17	11	parity	parity	NOUN
aijes-7163	17	12	technique	technique	NOUN
aijes-7163	17	13	using	use	VERB
aijes-7163	17	14	etfs.it	etfs.it	NUM
aijes-7163	17	15	focus	focus	NOUN
aijes-7163	17	16	es	es	NOUN
aijes-7163	17	17	on	on	ADP
aijes-7163	17	18	creating	create	VERB
aijes-7163	17	19	portfolios	portfolio	NOUN
aijes-7163	17	20	that	that	PRON
aijes-7163	17	21	balance	balance	VERB
aijes-7163	17	22	risk	risk	NOUN
aijes-7163	17	23	contributions	contribution	NOUN
aijes-7163	17	24	across	across	ADP
aijes-7163	17	25	specific	specific	ADJ
aijes-7163	17	26	etfs	etfs	NOUN
aijes-7163	17	27	while	while	SCONJ
aijes-7163	17	28	taking	take	VERB
aijes-7163	17	29	into	into	ADP
aijes-7163	17	30	https://orcid.org/0000-0002-6930-7292	https://orcid.org/0000-0002-6930-7292	NOUN
aijes-7163	17	31	mailto:dveliu@umt.edu.al	mailto:dveliu@umt.edu.al	X
aijes-7163	17	32	exchange	exchange	NOUN
aijes-7163	17	33	-	-	PUNCT
aijes-7163	17	34	traded	trade	VERB
aijes-7163	17	35	funds	fund	NOUN
aijes-7163	17	36	(	(	PUNCT
aijes-7163	17	37	etfs	etfs	NOUN
aijes-7163	17	38	)	)	PUNCT
aijes-7163	17	39	optimization	optimization	NOUN
aijes-7163	17	40	with	with	ADP
aijes-7163	17	41	risk	risk	NOUN
aijes-7163	17	42	parity	parity	NOUN
aijes-7163	17	43	strategies	strategy	NOUN
aijes-7163	17	44	330	330	NUM
aijes-7163	17	45	account	account	NOUN
aijes-7163	17	46	real	real	ADJ
aijes-7163	17	47	world	world	NOUN
aijes-7163	17	48	restrictions	restriction	NOUN
aijes-7163	17	49	such	such	ADJ
aijes-7163	17	50	as	as	ADP
aijes-7163	17	51	transaction	transaction	NOUN
aijes-7163	17	52	costs	cost	NOUN
aijes-7163	17	53	and	and	CCONJ
aijes-7163	17	54	leverage	leverage	NOUN
aijes-7163	17	55	requirements	requirement	NOUN
aijes-7163	17	56	.	.	PUNCT
aijes-7163	18	1	the	the	DET
aijes-7163	18	2	conditional	conditional	ADJ
aijes-7163	18	3	value	value	NOUN
aijes-7163	18	4	at	at	ADP
aijes-7163	18	5	risk	risk	NOUN
aijes-7163	18	6	(	(	PUNCT
aijes-7163	18	7	rockfellar	rockfellar	PROPN
aijes-7163	18	8	&	&	CCONJ
aijes-7163	18	9	uryasev	uryasev	PROPN
aijes-7163	18	10	,	,	PUNCT
aijes-7163	18	11	2000	2000	NUM
aijes-7163	18	12	)	)	PUNCT
aijes-7163	18	13	,	,	PUNCT
aijes-7163	18	14	or	or	CCONJ
aijes-7163	18	15	the	the	DET
aijes-7163	18	16	expected	expect	VERB
aijes-7163	18	17	shortfall	shortfall	NOUN
aijes-7163	18	18	(	(	PUNCT
aijes-7163	18	19	artzner	artzner	NOUN
aijes-7163	18	20	&	&	CCONJ
aijes-7163	18	21	delbaen	delbaen	PROPN
aijes-7163	18	22	,	,	PUNCT
aijes-7163	18	23	1999	1999	NUM
aijes-7163	18	24	)	)	PUNCT
aijes-7163	18	25	and	and	CCONJ
aijes-7163	18	26	the	the	DET
aijes-7163	18	27	traditional	traditional	ADJ
aijes-7163	18	28	mean	mean	ADJ
aijes-7163	18	29	-	-	PUNCT
aijes-7163	18	30	variance	variance	NOUN
aijes-7163	18	31	(	(	PUNCT
aijes-7163	18	32	markowitz	markowitz	PROPN
aijes-7163	18	33	,	,	PUNCT
aijes-7163	18	34	1952	1952	NUM
aijes-7163	18	35	)	)	PUNCT
aijes-7163	18	36	,	,	PUNCT
aijes-7163	18	37	will	will	AUX
aijes-7163	18	38	result	result	VERB
aijes-7163	18	39	in	in	ADP
aijes-7163	18	40	a	a	DET
aijes-7163	18	41	strong	strong	ADJ
aijes-7163	18	42	concentration	concentration	NOUN
aijes-7163	18	43	on	on	ADP
aijes-7163	18	44	a	a	DET
aijes-7163	18	45	limited	limited	ADJ
aijes-7163	18	46	number	number	NOUN
aijes-7163	18	47	of	of	ADP
aijes-7163	18	48	assets	asset	NOUN
aijes-7163	18	49	and	and	CCONJ
aijes-7163	18	50	poor	poor	ADJ
aijes-7163	18	51	performance	performance	NOUN
aijes-7163	18	52	during	during	ADP
aijes-7163	18	53	the	the	DET
aijes-7163	18	54	out	out	ADJ
aijes-7163	18	55	-	-	PUNCT
aijes-7163	18	56	ofsample	ofsample	ADJ
aijes-7163	18	57	period	period	NOUN
aijes-7163	18	58	.	.	PUNCT
aijes-7163	19	1	these	these	DET
aijes-7163	19	2	models	model	NOUN
aijes-7163	19	3	also	also	ADV
aijes-7163	19	4	rely	rely	VERB
aijes-7163	19	5	on	on	ADP
aijes-7163	19	6	predicted	predict	VERB
aijes-7163	19	7	returns	return	NOUN
aijes-7163	19	8	(	(	PUNCT
aijes-7163	19	9	markowitz	markowitz	PROPN
aijes-7163	19	10	,	,	PUNCT
aijes-7163	19	11	1978	1978	NUM
aijes-7163	19	12	,	,	PUNCT
aijes-7163	19	13	pp.2	pp.2	PROPN
aijes-7163	19	14	)	)	PUNCT
aijes-7163	19	15	,	,	PUNCT
aijes-7163	19	16	which	which	PRON
aijes-7163	19	17	are	be	AUX
aijes-7163	19	18	usually	usually	ADV
aijes-7163	19	19	calculated	calculate	VERB
aijes-7163	19	20	using	use	VERB
aijes-7163	19	21	financial	financial	ADJ
aijes-7163	19	22	models	model	NOUN
aijes-7163	19	23	or	or	CCONJ
aijes-7163	19	24	historical	historical	ADJ
aijes-7163	19	25	data	datum	NOUN
aijes-7163	19	26	.	.	PUNCT
aijes-7163	20	1	these	these	DET
aijes-7163	20	2	projections	projection	NOUN
aijes-7163	20	3	are	be	AUX
aijes-7163	20	4	not	not	PART
aijes-7163	20	5	without	without	ADP
aijes-7163	20	6	uncertainty	uncertainty	NOUN
aijes-7163	20	7	,	,	PUNCT
aijes-7163	20	8	though	though	ADV
aijes-7163	20	9	,	,	PUNCT
aijes-7163	20	10	and	and	CCONJ
aijes-7163	20	11	can	can	AUX
aijes-7163	20	12	be	be	AUX
aijes-7163	20	13	impacted	impact	VERB
aijes-7163	20	14	by	by	ADP
aijes-7163	20	15	a	a	DET
aijes-7163	20	16	number	number	NOUN
aijes-7163	20	17	of	of	ADP
aijes-7163	20	18	variables	variable	NOUN
aijes-7163	20	19	,	,	PUNCT
aijes-7163	20	20	including	include	VERB
aijes-7163	20	21	shifts	shift	NOUN
aijes-7163	20	22	in	in	ADP
aijes-7163	20	23	investor	investor	NOUN
aijes-7163	20	24	mood	mood	NOUN
aijes-7163	20	25	,	,	PUNCT
aijes-7163	20	26	market	market	NOUN
aijes-7163	20	27	circumstances	circumstance	NOUN
aijes-7163	20	28	,	,	PUNCT
aijes-7163	20	29	and	and	CCONJ
aijes-7163	20	30	economic	economic	ADJ
aijes-7163	20	31	developments	development	NOUN
aijes-7163	20	32	.	.	PUNCT
aijes-7163	21	1	suboptimal	suboptimal	ADJ
aijes-7163	21	2	portfolio	portfolio	NOUN
aijes-7163	21	3	allocations	allocation	NOUN
aijes-7163	21	4	and	and	CCONJ
aijes-7163	21	5	performance	performance	NOUN
aijes-7163	21	6	may	may	AUX
aijes-7163	21	7	result	result	VERB
aijes-7163	21	8	if	if	SCONJ
aijes-7163	21	9	the	the	DET
aijes-7163	21	10	predicted	predict	VERB
aijes-7163	21	11	returns	return	NOUN
aijes-7163	21	12	utilized	utilize	VERB
aijes-7163	21	13	in	in	ADP
aijes-7163	21	14	the	the	DET
aijes-7163	21	15	portfolio	portfolio	NOUN
aijes-7163	21	16	model	model	NOUN
aijes-7163	21	17	prove	prove	VERB
aijes-7163	21	18	to	to	PART
aijes-7163	21	19	be	be	AUX
aijes-7163	21	20	incorrect	incorrect	ADJ
aijes-7163	21	21	.	.	PUNCT
aijes-7163	22	1	according	accord	VERB
aijes-7163	22	2	to	to	ADP
aijes-7163	22	3	merton	merton	PROPN
aijes-7163	22	4	(	(	PUNCT
aijes-7163	22	5	1980	1980	NUM
aijes-7163	22	6	,	,	PUNCT
aijes-7163	22	7	pp.2	pp.2	PROPN
aijes-7163	22	8	)	)	PUNCT
aijes-7163	22	9	,	,	PUNCT
aijes-7163	22	10	portfolio	portfolio	NOUN
aijes-7163	22	11	models	model	NOUN
aijes-7163	22	12	that	that	PRON
aijes-7163	22	13	mainly	mainly	ADV
aijes-7163	22	14	depend	depend	VERB
aijes-7163	22	15	on	on	ADP
aijes-7163	22	16	expected	expect	VERB
aijes-7163	22	17	returns	return	NOUN
aijes-7163	22	18	may	may	AUX
aijes-7163	22	19	be	be	AUX
aijes-7163	22	20	extremely	extremely	ADV
aijes-7163	22	21	vulnerable	vulnerable	ADJ
aijes-7163	22	22	to	to	ADP
aijes-7163	22	23	shifts	shift	NOUN
aijes-7163	22	24	in	in	ADP
aijes-7163	22	25	those	those	DET
aijes-7163	22	26	assumptions	assumption	NOUN
aijes-7163	22	27	.	.	PUNCT
aijes-7163	23	1	the	the	DET
aijes-7163	23	2	ten	ten	NUM
aijes-7163	23	3	biggest	big	ADJ
aijes-7163	23	4	blue	blue	ADJ
aijes-7163	23	5	chip	chip	NOUN
aijes-7163	23	6	stock	stock	NOUN
aijes-7163	23	7	part	part	NOUN
aijes-7163	23	8	of	of	ADP
aijes-7163	23	9	ea	ea	NOUN
aijes-7163	23	10	bridgeway	bridgeway	ADJ
aijes-7163	23	11	blue	blue	ADJ
aijes-7163	23	12	chip	chip	NOUN
aijes-7163	23	13	etf	etf	NOUN
aijes-7163	23	14	(	(	PUNCT
aijes-7163	23	15	bblu	bblu	NOUN
aijes-7163	23	16	)	)	PUNCT
aijes-7163	23	17	are	be	AUX
aijes-7163	23	18	selected	select	VERB
aijes-7163	23	19	and	and	CCONJ
aijes-7163	23	20	optimized	optimize	VERB
aijes-7163	23	21	in	in	ADP
aijes-7163	23	22	the	the	DET
aijes-7163	23	23	risk	risk	NOUN
aijes-7163	23	24	parity	parity	NOUN
aijes-7163	23	25	model	model	NOUN
aijes-7163	23	26	using	use	VERB
aijes-7163	23	27	𝐶𝑉𝑎𝑅𝛼(𝑥	𝐶𝑉𝑎𝑅𝛼(𝑥	NOUN
aijes-7163	23	28	)	)	PUNCT
aijes-7163	23	29	as	as	ADP
aijes-7163	23	30	a	a	DET
aijes-7163	23	31	risk	risk	NOUN
aijes-7163	23	32	measure	measure	NOUN
aijes-7163	23	33	.	.	PUNCT
aijes-7163	24	1	the	the	DET
aijes-7163	24	2	partial	partial	ADJ
aijes-7163	24	3	derivatives	derivative	NOUN
aijes-7163	24	4	of	of	ADP
aijes-7163	24	5	the	the	DET
aijes-7163	24	6	conditional	conditional	ADJ
aijes-7163	24	7	value	value	NOUN
aijes-7163	24	8	at	at	ADP
aijes-7163	24	9	risk	risk	NOUN
aijes-7163	24	10	can	can	AUX
aijes-7163	24	11	be	be	AUX
aijes-7163	24	12	calculated	calculate	VERB
aijes-7163	24	13	using	use	VERB
aijes-7163	24	14	approximation	approximation	NOUN
aijes-7163	24	15	techniques	technique	NOUN
aijes-7163	24	16	(	(	PUNCT
aijes-7163	24	17	tasche	tasche	NOUN
aijes-7163	24	18	,	,	PUNCT
aijes-7163	24	19	2000	2000	NUM
aijes-7163	24	20	,	,	PUNCT
aijes-7163	24	21	pp.3	pp.3	PROPN
aijes-7163	24	22	)	)	PUNCT
aijes-7163	24	23	.	.	PUNCT
aijes-7163	25	1	the	the	DET
aijes-7163	25	2	comparison	comparison	NOUN
aijes-7163	25	3	using	use	VERB
aijes-7163	25	4	risk	risk	NOUN
aijes-7163	25	5	parity	parity	NOUN
aijes-7163	25	6	methods	method	NOUN
aijes-7163	25	7	is	be	AUX
aijes-7163	25	8	made	make	VERB
aijes-7163	25	9	with	with	ADP
aijes-7163	25	10	several	several	ADJ
aijes-7163	25	11	risk	risk	NOUN
aijes-7163	25	12	measurements	measurement	NOUN
aijes-7163	25	13	(	(	PUNCT
aijes-7163	25	14	conditional	conditional	ADJ
aijes-7163	25	15	value	value	NOUN
aijes-7163	25	16	at	at	ADP
aijes-7163	25	17	risk	risk	NOUN
aijes-7163	25	18	and	and	CCONJ
aijes-7163	25	19	standard	standard	ADJ
aijes-7163	25	20	deviation	deviation	NOUN
aijes-7163	25	21	)	)	PUNCT
aijes-7163	25	22	in	in	ADP
aijes-7163	25	23	order	order	NOUN
aijes-7163	25	24	to	to	PART
aijes-7163	25	25	obtain	obtain	VERB
aijes-7163	25	26	a	a	DET
aijes-7163	25	27	comprehensive	comprehensive	ADJ
aijes-7163	25	28	pattern	pattern	NOUN
aijes-7163	25	29	.	.	PUNCT
aijes-7163	26	1	although	although	SCONJ
aijes-7163	26	2	the	the	DET
aijes-7163	26	3	findings	finding	NOUN
aijes-7163	26	4	are	be	AUX
aijes-7163	26	5	quite	quite	ADV
aijes-7163	26	6	similar	similar	ADJ
aijes-7163	26	7	,	,	PUNCT
aijes-7163	26	8	it	it	PRON
aijes-7163	26	9	takes	take	VERB
aijes-7163	26	10	a	a	DET
aijes-7163	26	11	lot	lot	NOUN
aijes-7163	26	12	less	less	ADJ
aijes-7163	26	13	time	time	NOUN
aijes-7163	26	14	to	to	PART
aijes-7163	26	15	calculate	calculate	VERB
aijes-7163	26	16	risk	risk	NOUN
aijes-7163	26	17	parity	parity	NOUN
aijes-7163	26	18	with	with	ADP
aijes-7163	26	19	conditional	conditional	ADJ
aijes-7163	26	20	value	value	NOUN
aijes-7163	26	21	at	at	ADP
aijes-7163	26	22	risk	risk	NOUN
aijes-7163	26	23	.	.	PUNCT
aijes-7163	27	1	research	research	NOUN
aijes-7163	27	2	methodology	methodology	NOUN
aijes-7163	27	3	this	this	DET
aijes-7163	27	4	section	section	NOUN
aijes-7163	27	5	outlines	outline	VERB
aijes-7163	27	6	the	the	DET
aijes-7163	27	7	empirical	empirical	ADJ
aijes-7163	27	8	framework	framework	NOUN
aijes-7163	27	9	for	for	ADP
aijes-7163	27	10	evaluating	evaluate	VERB
aijes-7163	27	11	the	the	DET
aijes-7163	27	12	six	six	NUM
aijes-7163	27	13	portfolio	portfolio	NOUN
aijes-7163	27	14	strategies	strategy	NOUN
aijes-7163	27	15	for	for	ADP
aijes-7163	27	16	the	the	DET
aijes-7163	27	17	ten	ten	NUM
aijes-7163	27	18	biggest	big	ADJ
aijes-7163	27	19	blue	blue	ADJ
aijes-7163	27	20	-	-	PUNCT
aijes-7163	27	21	chip	chip	NOUN
aijes-7163	27	22	stocks	stock	NOUN
aijes-7163	27	23	comprising	comprise	VERB
aijes-7163	27	24	the	the	DET
aijes-7163	27	25	ea	ea	X
aijes-7163	27	26	bridgeway	bridgeway	ADJ
aijes-7163	27	27	blue	blue	ADJ
aijes-7163	27	28	chip	chip	NOUN
aijes-7163	27	29	etf	etf	NOUN
aijes-7163	27	30	(	(	PUNCT
aijes-7163	27	31	bblu	bblu	NOUN
aijes-7163	27	32	)	)	PUNCT
aijes-7163	27	33	.	.	PUNCT
aijes-7163	28	1	the	the	DET
aijes-7163	28	2	goal	goal	NOUN
aijes-7163	28	3	is	be	AUX
aijes-7163	28	4	to	to	PART
aijes-7163	28	5	compare	compare	VERB
aijes-7163	28	6	their	their	PRON
aijes-7163	28	7	risk	risk	NOUN
aijes-7163	28	8	-	-	PUNCT
aijes-7163	28	9	adjusted	adjust	VERB
aijes-7163	28	10	performance	performance	NOUN
aijes-7163	28	11	,	,	PUNCT
aijes-7163	28	12	diversification	diversification	NOUN
aijes-7163	28	13	benefits	benefit	NOUN
aijes-7163	28	14	,	,	PUNCT
aijes-7163	28	15	and	and	CCONJ
aijes-7163	28	16	robustness	robustness	NOUN
aijes-7163	28	17	.	.	PUNCT
aijes-7163	29	1	to	to	PART
aijes-7163	29	2	provide	provide	VERB
aijes-7163	29	3	a	a	DET
aijes-7163	29	4	complete	complete	ADJ
aijes-7163	29	5	framework	framework	NOUN
aijes-7163	29	6	for	for	ADP
aijes-7163	29	7	the	the	DET
aijes-7163	29	8	portfolio	portfolio	NOUN
aijes-7163	29	9	models	model	NOUN
aijes-7163	29	10	,	,	PUNCT
aijes-7163	29	11	the	the	DET
aijes-7163	29	12	following	follow	VERB
aijes-7163	29	13	are	be	AUX
aijes-7163	29	14	considered	consider	VERB
aijes-7163	29	15	:	:	PUNCT
aijes-7163	29	16	1	1	NUM
aijes-7163	29	17	.	.	X
aijes-7163	29	18	1	1	NUM
aijes-7163	29	19	/	/	SYM
aijes-7163	29	20	n	n	CCONJ
aijes-7163	29	21	naïve	naïve	ADJ
aijes-7163	29	22	portfolio	portfolio	NOUN
aijes-7163	29	23	with	with	ADP
aijes-7163	29	24	the	the	DET
aijes-7163	29	25	same	same	ADJ
aijes-7163	29	26	weight	weight	NOUN
aijes-7163	29	27	for	for	ADP
aijes-7163	29	28	each	each	DET
aijes-7163	29	29	asset	asset	NOUN
aijes-7163	29	30	(	(	PUNCT
aijes-7163	29	31	10	10	NUM
aijes-7163	29	32	%	%	NOUN
aijes-7163	29	33	of	of	ADP
aijes-7163	29	34	each	each	DET
aijes-7163	29	35	asset	asset	NOUN
aijes-7163	29	36	)	)	PUNCT
aijes-7163	29	37	;	;	PUNCT
aijes-7163	29	38	2	2	X
aijes-7163	29	39	.	.	PUNCT
aijes-7163	29	40	mean	mean	ADJ
aijes-7163	29	41	variance	variance	NOUN
aijes-7163	29	42	without	without	ADP
aijes-7163	29	43	the	the	DET
aijes-7163	29	44	expected	expect	VERB
aijes-7163	29	45	return	return	NOUN
aijes-7163	29	46	constrain	constrain	VERB
aijes-7163	29	47	(	(	PUNCT
aijes-7163	29	48	mv	mv	PROPN
aijes-7163	29	49	)	)	PUNCT
aijes-7163	29	50	;	;	PUNCT
aijes-7163	29	51	3	3	X
aijes-7163	29	52	.	.	X
aijes-7163	29	53	minimum	minimum	ADJ
aijes-7163	29	54	cvar	cvar	NOUN
aijes-7163	29	55	(	(	PUNCT
aijes-7163	29	56	andersson	andersson	PROPN
aijes-7163	29	57	et	et	PROPN
aijes-7163	29	58	al	al	PROPN
aijes-7163	29	59	.	.	PROPN
aijes-7163	29	60	,	,	PUNCT
aijes-7163	29	61	2000	2000	NUM
aijes-7163	29	62	)	)	PUNCT
aijes-7163	29	63	without	without	ADP
aijes-7163	29	64	the	the	DET
aijes-7163	29	65	expected	expect	VERB
aijes-7163	29	66	return	return	NOUN
aijes-7163	29	67	constrain	constrain	VERB
aijes-7163	29	68	;	;	PUNCT
aijes-7163	29	69	4	4	X
aijes-7163	29	70	.	.	NOUN
aijes-7163	29	71	risk	risk	NOUN
aijes-7163	29	72	parity	parity	NOUN
aijes-7163	29	73	with	with	ADP
aijes-7163	29	74	standard	standard	ADJ
aijes-7163	29	75	deviation	deviation	NOUN
aijes-7163	29	76	(	(	PUNCT
aijes-7163	29	77	rp	rp	NOUN
aijes-7163	29	78	-	-	PUNCT
aijes-7163	29	79	std	std	NOUN
aijes-7163	29	80	)	)	PUNCT
aijes-7163	29	81	;	;	PUNCT
aijes-7163	29	82	5	5	X
aijes-7163	29	83	.	.	NOUN
aijes-7163	29	84	risk	risk	NOUN
aijes-7163	29	85	parity	parity	NOUN
aijes-7163	29	86	with	with	ADP
aijes-7163	29	87	expected	expect	VERB
aijes-7163	29	88	shortfall	shortfall	NOUN
aijes-7163	29	89	or	or	CCONJ
aijes-7163	29	90	cvar	cvar	NOUN
aijes-7163	29	91	(	(	PUNCT
aijes-7163	29	92	rp	rp	NOUN
aijes-7163	29	93	-	-	PUNCT
aijes-7163	29	94	cvar	cvar	NOUN
aijes-7163	29	95	)	)	PUNCT
aijes-7163	29	96	;	;	PUNCT
aijes-7163	29	97	6	6	X
aijes-7163	29	98	.	.	X
aijes-7163	29	99	worst	bad	ADJ
aijes-7163	29	100	case	case	NOUN
aijes-7163	29	101	risk	risk	NOUN
aijes-7163	29	102	parity	parity	NOUN
aijes-7163	29	103	cvar	cvar	NOUN
aijes-7163	29	104	(	(	PUNCT
aijes-7163	29	105	rp	rp	NOUN
aijes-7163	29	106	-	-	PUNCT
aijes-7163	29	107	cvar	cvar	NOUN
aijes-7163	29	108	naïve	naïve	PROPN
aijes-7163	29	109	)	)	PUNCT
aijes-7163	29	110	;	;	PUNCT
aijes-7163	29	111	the	the	DET
aijes-7163	29	112	last	last	ADJ
aijes-7163	29	113	one	one	NOUN
aijes-7163	29	114	is	be	AUX
aijes-7163	29	115	a	a	DET
aijes-7163	29	116	special	special	ADJ
aijes-7163	29	117	case	case	NOUN
aijes-7163	29	118	for	for	ADP
aijes-7163	29	119	the	the	DET
aijes-7163	29	120	worst	bad	ADJ
aijes-7163	29	121	-	-	PUNCT
aijes-7163	29	122	case	case	NOUN
aijes-7163	29	123	scenario	scenario	NOUN
aijes-7163	29	124	(	(	PUNCT
aijes-7163	29	125	highest	high	ADJ
aijes-7163	29	126	cvar	cvar	NOUN
aijes-7163	29	127	)	)	PUNCT
aijes-7163	29	128	,	,	PUNCT
aijes-7163	29	129	useful	useful	ADJ
aijes-7163	29	130	as	as	ADP
aijes-7163	29	131	an	an	DET
aijes-7163	29	132	upper	upper	ADJ
aijes-7163	29	133	bound	bound	NOUN
aijes-7163	29	134	(	(	PUNCT
aijes-7163	29	135	colucci	colucci	PROPN
aijes-7163	29	136	,	,	PUNCT
aijes-7163	29	137	2013	2013	NUM
aijes-7163	29	138	)	)	PUNCT
aijes-7163	29	139	.	.	PUNCT
aijes-7163	30	1	a	a	DET
aijes-7163	30	2	similar	similar	ADJ
aijes-7163	30	3	study	study	NOUN
aijes-7163	30	4	was	be	AUX
aijes-7163	30	5	conducted	conduct	VERB
aijes-7163	30	6	with	with	ADP
aijes-7163	30	7	cryptocurrencies	cryptocurrencie	NOUN
aijes-7163	30	8	(	(	PUNCT
aijes-7163	30	9	veliu	veliu	NOUN
aijes-7163	30	10	&	&	CCONJ
aijes-7163	30	11	aranitasi	aranitasi	NOUN
aijes-7163	30	12	,	,	PUNCT
aijes-7163	30	13	2024	2024	NUM
aijes-7163	30	14	)	)	PUNCT
aijes-7163	30	15	.	.	PUNCT
aijes-7163	31	1	in	in	ADP
aijes-7163	31	2	all	all	DET
aijes-7163	31	3	these	these	DET
aijes-7163	31	4	models	model	NOUN
aijes-7163	31	5	,	,	PUNCT
aijes-7163	31	6	the	the	DET
aijes-7163	31	7	constraint	constraint	NOUN
aijes-7163	31	8	of	of	ADP
aijes-7163	31	9	expected	expect	VERB
aijes-7163	31	10	returns	return	NOUN
aijes-7163	31	11	is	be	AUX
aijes-7163	31	12	removed	remove	VERB
aijes-7163	31	13	,	,	PUNCT
aijes-7163	31	14	so	so	CCONJ
aijes-7163	31	15	the	the	DET
aijes-7163	31	16	minimum	minimum	ADJ
aijes-7163	31	17	variance	variance	NOUN
aijes-7163	31	18	mv	mv	PROPN
aijes-7163	31	19	and	and	CCONJ
aijes-7163	31	20	minimum	minimum	PROPN
aijes-7163	31	21	cvar	cvar	NOUN
aijes-7163	31	22	are	be	AUX
aijes-7163	31	23	at	at	ADP
aijes-7163	31	24	the	the	DET
aijes-7163	31	25	smallest	small	ADJ
aijes-7163	31	26	possible	possible	ADJ
aijes-7163	31	27	value	value	NOUN
aijes-7163	31	28	of	of	ADP
aijes-7163	31	29	the	the	DET
aijes-7163	31	30	risk	risk	NOUN
aijes-7163	31	31	measure	measure	NOUN
aijes-7163	31	32	.	.	PUNCT
aijes-7163	32	1	for	for	ADP
aijes-7163	32	2	a	a	DET
aijes-7163	32	3	portfolio	portfolio	NOUN
aijes-7163	32	4	with	with	ADP
aijes-7163	32	5	n	n	NOUN
aijes-7163	32	6	assets	asset	NOUN
aijes-7163	32	7	,	,	PUNCT
aijes-7163	32	8	each	each	DET
aijes-7163	32	9	weight	weight	NOUN
aijes-7163	32	10	xi	xi	X
aijes-7163	32	11	and	and	CCONJ
aijes-7163	32	12	ℛ(𝑥	ℛ(𝑥	NOUN
aijes-7163	32	13	)	)	PUNCT
aijes-7163	32	14	as	as	ADP
aijes-7163	32	15	a	a	DET
aijes-7163	32	16	risk	risk	NOUN
aijes-7163	32	17	measure	measure	NOUN
aijes-7163	32	18	for	for	ADP
aijes-7163	32	19	the	the	DET
aijes-7163	32	20	portfolio	portfolio	NOUN
aijes-7163	32	21	,	,	PUNCT
aijes-7163	32	22	the	the	DET
aijes-7163	32	23	vector	vector	NOUN
aijes-7163	32	24	of	of	ADP
aijes-7163	32	25	the	the	DET
aijes-7163	32	26	weights	weight	NOUN
aijes-7163	32	27	is	be	AUX
aijes-7163	32	28	given	give	VERB
aijes-7163	32	29	by	by	ADP
aijes-7163	32	30	:	:	PUNCT
aijes-7163	32	31	x	x	SYM
aijes-7163	32	32	=	=	SYM
aijes-7163	32	33	(	(	PUNCT
aijes-7163	32	34	x1	x1	PROPN
aijes-7163	32	35	,	,	PUNCT
aijes-7163	32	36	x2,	x2,	PROPN
aijes-7163	32	37	.....	.....	PUNCT
aijes-7163	32	38	,xn	,xn	NUM
aijes-7163	32	39	)	)	PUNCT
aijes-7163	32	40	.	.	PUNCT
aijes-7163	33	1	in	in	ADP
aijes-7163	33	2	the	the	DET
aijes-7163	33	3	literature	literature	NOUN
aijes-7163	33	4	(	(	PUNCT
aijes-7163	33	5	maillard	maillard	NOUN
aijes-7163	33	6	et	et	PROPN
aijes-7163	33	7	al	al	PROPN
aijes-7163	33	8	.	.	PROPN
aijes-7163	33	9	,	,	PUNCT
aijes-7163	33	10	2010	2010	NUM
aijes-7163	33	11	p.1	p.1	NOUN
aijes-7163	33	12	)	)	PUNCT
aijes-7163	33	13	,	,	PUNCT
aijes-7163	33	14	the	the	DET
aijes-7163	33	15	use	use	NOUN
aijes-7163	33	16	of	of	ADP
aijes-7163	33	17	risk	risk	NOUN
aijes-7163	33	18	parity	parity	NOUN
aijes-7163	33	19	is	be	AUX
aijes-7163	33	20	the	the	DET
aijes-7163	33	21	case	case	NOUN
aijes-7163	33	22	with	with	ADP
aijes-7163	33	23	the	the	DET
aijes-7163	33	24	standard	standard	ADJ
aijes-7163	33	25	deviation	deviation	NOUN
aijes-7163	33	26	as	as	ADP
aijes-7163	33	27	risk	risk	NOUN
aijes-7163	33	28	measure	measure	NOUN
aijes-7163	33	29	.	.	PUNCT
aijes-7163	34	1	for	for	ADP
aijes-7163	34	2	a	a	DET
aijes-7163	34	3	portfolio	portfolio	NOUN
aijes-7163	34	4	with	with	ADP
aijes-7163	34	5	n	n	ADP
aijes-7163	34	6	assets	asset	NOUN
aijes-7163	34	7	and	and	CCONJ
aijes-7163	34	8	weights	weight	NOUN
aijes-7163	34	9	x	x	NOUN
aijes-7163	34	10	=	=	SYM
aijes-7163	34	11	(	(	PUNCT
aijes-7163	34	12	x1	x1	PROPN
aijes-7163	34	13	,	,	PUNCT
aijes-7163	34	14	x2,	x2,	PROPN
aijes-7163	34	15	.....	.....	PUNCT
aijes-7163	34	16	,xn	,xn	PUNCT
aijes-7163	34	17	)	)	PUNCT
aijes-7163	34	18	,	,	PUNCT
aijes-7163	34	19	the	the	DET
aijes-7163	34	20	standard	standard	ADJ
aijes-7163	34	21	deviation	deviation	NOUN
aijes-7163	34	22	is	be	AUX
aijes-7163	34	23	:	:	PUNCT
aijes-7163	34	24	denis	denis	PROPN
aijes-7163	34	25	veliu	veliu	VERB
aijes-7163	34	26	331	331	NUM
aijes-7163	34	27	ℛ(𝑥	ℛ(𝑥	NOUN
aijes-7163	34	28	)	)	PUNCT
aijes-7163	35	1	=	=	SYM
aijes-7163	35	2	𝜎𝑃(𝑥	𝜎𝑃(𝑥	NOUN
aijes-7163	35	3	)	)	PUNCT
aijes-7163	35	4	=	=	PRON
aijes-7163	35	5	√∑	√∑	PRON
aijes-7163	35	6	∑	∑	PUNCT
aijes-7163	35	7	𝑥𝑖𝑥𝑗𝜎𝑖𝑗	𝑥𝑖𝑥𝑗𝜎𝑖𝑗	VERB
aijes-7163	35	8	𝑛	𝑛	PRON
aijes-7163	35	9	𝑗=1	𝑗=1	PROPN
aijes-7163	35	10	𝑛	𝑛	PRON
aijes-7163	35	11	𝑖=1	𝑖=1	PUNCT
aijes-7163	35	12	=	=	SYM
aijes-7163	35	13	√𝑥′ω𝑥	√𝑥′ω𝑥	PROPN
aijes-7163	35	14	where	where	SCONJ
aijes-7163	35	15	ω	ω	PROPN
aijes-7163	35	16	is	be	AUX
aijes-7163	35	17	the	the	DET
aijes-7163	35	18	covariance	covariance	NOUN
aijes-7163	35	19	matrix	matrix	NOUN
aijes-7163	35	20	.	.	PUNCT
aijes-7163	36	1	the	the	DET
aijes-7163	36	2	marginal	marginal	ADJ
aijes-7163	36	3	risk	risk	NOUN
aijes-7163	36	4	contribution	contribution	NOUN
aijes-7163	36	5	of	of	ADP
aijes-7163	36	6	the	the	DET
aijes-7163	36	7	i	i	PROPN
aijes-7163	36	8	asset	asset	NOUN
aijes-7163	36	9	:	:	PUNCT
aijes-7163	36	10	𝑀𝑅𝐶𝑖(𝑥	𝑀𝑅𝐶𝑖(𝑥	PROPN
aijes-7163	36	11	)	)	PUNCT
aijes-7163	36	12	=	=	SYM
aijes-7163	36	13	𝜕𝜎𝑃(𝑥	𝜕𝜎𝑃(𝑥	NOUN
aijes-7163	36	14	)	)	PUNCT
aijes-7163	36	15	𝜕𝑥𝑖	𝜕𝑥𝑖	PUNCT
aijes-7163	37	1	=	=	PUNCT
aijes-7163	38	1	𝜕𝜎𝑖	𝜕𝜎𝑖	VERB
aijes-7163	38	2	2	2	NUM
aijes-7163	38	3	+	+	CCONJ
aijes-7163	38	4	∑	∑	PUNCT
aijes-7163	38	5	𝑥𝑖𝜎𝑖𝑗	𝑥𝑖𝜎𝑖𝑗	ADJ
aijes-7163	38	6	𝑛	𝑛	PROPN
aijes-7163	38	7	𝑗=1	𝑗=1	PROPN
aijes-7163	38	8	𝜎𝑃(𝑥	𝜎𝑃(𝑥	PROPN
aijes-7163	38	9	)	)	PUNCT
aijes-7163	38	10	=	=	PUNCT
aijes-7163	38	11	(	(	PUNCT
aijes-7163	38	12	ω𝑥)𝑖	ω𝑥)𝑖	NUM
aijes-7163	38	13	√𝑥′ω𝑥	√𝑥′ω𝑥	PROPN
aijes-7163	38	14	and	and	CCONJ
aijes-7163	38	15	the	the	DET
aijes-7163	38	16	total	total	ADJ
aijes-7163	38	17	risk	risk	NOUN
aijes-7163	38	18	contribution	contribution	NOUN
aijes-7163	38	19	:	:	PUNCT
aijes-7163	38	20	𝑇𝑅𝐶𝑖(𝑥	𝑇𝑅𝐶𝑖(𝑥	NOUN
aijes-7163	38	21	)	)	PUNCT
aijes-7163	38	22	=	=	SYM
aijes-7163	38	23	𝑥𝑖	𝑥𝑖	NUM
aijes-7163	38	24	𝜕𝜎𝑃(𝑥	𝜕𝜎𝑃(𝑥	NOUN
aijes-7163	38	25	)	)	PUNCT
aijes-7163	38	26	𝜕𝑥𝑖	𝜕𝑥𝑖	PUNCT
aijes-7163	39	1	=	=	NUM
aijes-7163	39	2	𝑥𝑖	𝑥𝑖	ADJ
aijes-7163	39	3	𝜕𝜎𝑖	𝜕𝜎𝑖	X
aijes-7163	39	4	2	2	NUM
aijes-7163	39	5	+	+	CCONJ
aijes-7163	39	6	∑	∑	PUNCT
aijes-7163	39	7	𝑥𝑖𝜎𝑖𝑗	𝑥𝑖𝜎𝑖𝑗	ADJ
aijes-7163	39	8	𝑛	𝑛	PROPN
aijes-7163	39	9	𝑗=1	𝑗=1	PROPN
aijes-7163	39	10	𝜎𝑃(𝑥	𝜎𝑃(𝑥	PROPN
aijes-7163	39	11	)	)	PUNCT
aijes-7163	39	12	=	=	SYM
aijes-7163	39	13	𝑥𝑖	𝑥𝑖	PROPN
aijes-7163	39	14	(	(	PUNCT
aijes-7163	39	15	ω𝑥)𝑖	ω𝑥)𝑖	PROPN
aijes-7163	39	16	√𝑥′ω𝑥	√𝑥′ω𝑥	X
aijes-7163	39	17	the	the	DET
aijes-7163	39	18	following	follow	VERB
aijes-7163	39	19	optimization	optimization	NOUN
aijes-7163	39	20	problem	problem	NOUN
aijes-7163	39	21	can	can	AUX
aijes-7163	39	22	be	be	AUX
aijes-7163	39	23	used	use	VERB
aijes-7163	39	24	to	to	PART
aijes-7163	39	25	construct	construct	VERB
aijes-7163	39	26	the	the	DET
aijes-7163	39	27	risk	risk	NOUN
aijes-7163	39	28	parity	parity	NOUN
aijes-7163	39	29	model	model	NOUN
aijes-7163	39	30	:	:	PUNCT
aijes-7163	39	31	𝑥∗	𝑥∗	PROPN
aijes-7163	39	32	=	=	PUNCT
aijes-7163	39	33	arg	arg	NOUN
aijes-7163	39	34	min	min	PROPN
aijes-7163	39	35	∑	∑	PROPN
aijes-7163	39	36	∑	∑	PROPN
aijes-7163	39	37	(	(	PUNCT
aijes-7163	39	38	𝑇𝑅𝐶𝑖(𝑥	𝑇𝑅𝐶𝑖(𝑥	PROPN
aijes-7163	39	39	)	)	PUNCT
aijes-7163	39	40	−	−	PROPN
aijes-7163	39	41	𝑇𝑅𝐶𝑗(𝑥	𝑇𝑅𝐶𝑗(𝑥	NOUN
aijes-7163	39	42	)	)	PUNCT
aijes-7163	39	43	)	)	PUNCT
aijes-7163	40	1	2	2	NUM
aijes-7163	40	2	𝑛	𝑛	DET
aijes-7163	40	3	𝑗=1	𝑗=1	PROPN
aijes-7163	40	4	𝑛	𝑛	ADP
aijes-7163	40	5	𝑖=1	𝑖=1	PUNCT
aijes-7163	40	6	∑	∑	PUNCT
aijes-7163	40	7	𝑥𝑖	𝑥𝑖	PROPN
aijes-7163	40	8	=	=	SYM
aijes-7163	40	9	1	1	NUM
aijes-7163	40	10	𝑛	𝑛	PRON
aijes-7163	40	11	𝑖=1	𝑖=1	PUNCT
aijes-7163	40	12	𝑥	𝑥	PRON
aijes-7163	40	13	≥	≥	NOUN
aijes-7163	40	14	0	0	NUM
aijes-7163	40	15	to	to	PART
aijes-7163	40	16	guarantee	guarantee	VERB
aijes-7163	40	17	the	the	DET
aijes-7163	40	18	existence	existence	NOUN
aijes-7163	40	19	of	of	ADP
aijes-7163	40	20	the	the	DET
aijes-7163	40	21	partial	partial	ADJ
aijes-7163	40	22	derivatives	derivative	NOUN
aijes-7163	40	23	of	of	ADP
aijes-7163	40	24	𝐶𝑉𝑎𝑅𝛼(𝑥	𝐶𝑉𝑎𝑅𝛼(𝑥	NOUN
aijes-7163	40	25	)	)	PUNCT
aijes-7163	40	26	some	some	DET
aijes-7163	40	27	assumptions	assumption	NOUN
aijes-7163	40	28	are	be	AUX
aijes-7163	40	29	needed	need	VERB
aijes-7163	40	30	on	on	ADP
aijes-7163	40	31	the	the	DET
aijes-7163	40	32	distribution	distribution	NOUN
aijes-7163	40	33	of	of	ADP
aijes-7163	40	34	the	the	DET
aijes-7163	40	35	random	random	ADJ
aijes-7163	40	36	vector	vector	NOUN
aijes-7163	40	37	r	r	NOUN
aijes-7163	40	38	=	=	PUNCT
aijes-7163	40	39	(	(	PUNCT
aijes-7163	40	40	r1	r1	PROPN
aijes-7163	40	41	,	,	PUNCT
aijes-7163	40	42	r2,	r2,	NOUN
aijes-7163	40	43	.....	.....	PUNCT
aijes-7163	40	44	,rn	,rn	PUNCT
aijes-7163	40	45	)	)	PUNCT
aijes-7163	40	46	.	.	PUNCT
aijes-7163	41	1	the	the	DET
aijes-7163	41	2	conditions	condition	NOUN
aijes-7163	41	3	for	for	ADP
aijes-7163	41	4	quantile	quantile	NOUN
aijes-7163	41	5	of	of	ADP
aijes-7163	41	6	the	the	DET
aijes-7163	41	7	portfolio	portfolio	NOUN
aijes-7163	41	8	return	return	VERB
aijes-7163	41	9	𝑋	𝑋	NOUN
aijes-7163	41	10	=	=	SYM
aijes-7163	41	11	𝑅′𝑥	𝑅′𝑥	NOUN
aijes-7163	41	12	=	=	PUNCT
aijes-7163	41	13	∑	∑	PART
aijes-7163	41	14	𝑥𝑖𝑟𝑖	𝑥𝑖𝑟𝑖	VERB
aijes-7163	41	15	𝑛	𝑛	ADP
aijes-7163	41	16	𝑖=1	𝑖=1	PROPN
aijes-7163	41	17	should	should	AUX
aijes-7163	41	18	be	be	AUX
aijes-7163	41	19	differentiable	differentiable	ADJ
aijes-7163	41	20	respect	respect	NOUN
aijes-7163	41	21	to	to	ADP
aijes-7163	41	22	the	the	DET
aijes-7163	41	23	weights	weight	NOUN
aijes-7163	41	24	𝑥𝑖.	𝑥𝑖.	ADP
aijes-7163	41	25	these	these	DET
aijes-7163	41	26	i	i	PROPN
aijes-7163	41	27	-	-	PUNCT
aijes-7163	41	28	th	th	X
aijes-7163	41	29	asset	asset	NOUN
aijes-7163	41	30	return	return	NOUN
aijes-7163	41	31	𝑟𝑖	𝑟𝑖	ADV
aijes-7163	41	32	given	give	VERB
aijes-7163	41	33	the	the	DET
aijes-7163	41	34	others	other	NOUN
aijes-7163	41	35	is	be	AUX
aijes-7163	41	36	measured	measure	VERB
aijes-7163	41	37	as	as	ADP
aijes-7163	41	38	follow	follow	NOUN
aijes-7163	41	39	:	:	PUNCT
aijes-7163	41	40	𝑟𝑖,𝑡+1	𝑟𝑖,𝑡+1	NOUN
aijes-7163	41	41	=	=	SYM
aijes-7163	42	1	𝑃𝑖,𝑡+1	𝑃𝑖,𝑡+1	NOUN
aijes-7163	42	2	−	−	NOUN
aijes-7163	42	3	𝑃𝑖,𝑡	𝑃𝑖,𝑡	PROPN
aijes-7163	42	4	𝑃𝑖,𝑡	𝑃𝑖,𝑡	PROPN
aijes-7163	42	5	from	from	ADP
aijes-7163	42	6	the	the	DET
aijes-7163	42	7	definition	definition	NOUN
aijes-7163	42	8	of	of	ADP
aijes-7163	42	9	𝐶𝑉𝑎𝑅𝛼(𝑥	𝐶𝑉𝑎𝑅𝛼(𝑥	NOUN
aijes-7163	42	10	)	)	PUNCT
aijes-7163	42	11	(	(	PUNCT
aijes-7163	42	12	rockfellar	rockfellar	PROPN
aijes-7163	42	13	&	&	CCONJ
aijes-7163	42	14	uryasev	uryasev	PROPN
aijes-7163	42	15	,	,	PUNCT
aijes-7163	42	16	2000	2000	NUM
aijes-7163	42	17	,	,	PUNCT
aijes-7163	42	18	pp.2	pp.2	PROPN
aijes-7163	42	19	)	)	PUNCT
aijes-7163	42	20	is	be	AUX
aijes-7163	42	21	as	as	ADV
aijes-7163	42	22	follow	follow	VERB
aijes-7163	42	23	:	:	PUNCT
aijes-7163	42	24	𝐶𝑉𝑎𝑅𝛼(𝑥	𝐶𝑉𝑎𝑅𝛼(𝑥	X
aijes-7163	42	25	)	)	PUNCT
aijes-7163	42	26	=	=	SYM
aijes-7163	42	27	1	1	NUM
aijes-7163	42	28	α	α	NUM
aijes-7163	42	29	∫	∫	PROPN
aijes-7163	42	30	𝑉𝑎𝑅𝑣(𝑥)d𝑣	𝑉𝑎𝑅𝑣(𝑥)d𝑣	ADP
aijes-7163	42	31	α	α	PROPN
aijes-7163	42	32	0	0	PUNCT
aijes-7163	43	1	thus	thus	ADV
aijes-7163	43	2	,	,	PUNCT
aijes-7163	43	3	partial	partial	ADJ
aijes-7163	43	4	derivatives	derivative	NOUN
aijes-7163	43	5	are	be	AUX
aijes-7163	43	6	calculated	calculate	VERB
aijes-7163	43	7	as	as	ADP
aijes-7163	43	8	follow	follow	NOUN
aijes-7163	43	9	:	:	PUNCT
aijes-7163	43	10	𝜕𝐶𝑉𝑎𝑅𝛼(𝑥	𝜕𝐶𝑉𝑎𝑅𝛼(𝑥	NOUN
aijes-7163	43	11	)	)	PUNCT
aijes-7163	43	12	𝜕𝑥𝑖	𝜕𝑥𝑖	PUNCT
aijes-7163	44	1	=	=	NOUN
aijes-7163	44	2	1	1	NUM
aijes-7163	44	3	α	α	NUM
aijes-7163	44	4	∫	∫	PROPN
aijes-7163	44	5	𝜕𝐶𝑉𝑎𝑅𝛼(𝑥	𝜕𝐶𝑉𝑎𝑅𝛼(𝑥	X
aijes-7163	44	6	)	)	PUNCT
aijes-7163	44	7	𝜕𝑥𝑖	𝜕𝑥𝑖	PUNCT
aijes-7163	44	8	d𝑣	d𝑣	VERB
aijes-7163	44	9	α	α	NOUN
aijes-7163	44	10	0	0	PUNCT
aijes-7163	45	1	=	=	SYM
aijes-7163	45	2	−	−	PROPN
aijes-7163	45	3	1	1	NUM
aijes-7163	45	4	α	α	NOUN
aijes-7163	45	5	∫	∫	NOUN
aijes-7163	45	6	𝐸[𝑟𝑖|−𝑅′𝑥	𝐸[𝑟𝑖|−𝑅′𝑥	PROPN
aijes-7163	45	7	=	=	SYM
aijes-7163	45	8	𝑉𝑎𝑅𝛼(𝑥)]d𝑣	𝑉𝑎𝑅𝛼(𝑥)]d𝑣	PROPN
aijes-7163	45	9	=	=	PUNCT
aijes-7163	45	10	α	α	NOUN
aijes-7163	45	11	0	0	PUNCT
aijes-7163	46	1	−	−	NOUN
aijes-7163	46	2	1	1	NUM
aijes-7163	46	3	α	α	NOUN
aijes-7163	46	4	∫	∫	NOUN
aijes-7163	46	5	𝐸[𝑟𝑖|𝑋	𝐸[𝑟𝑖|𝑋	PROPN
aijes-7163	46	6	=	=	PROPN
aijes-7163	47	1	𝑞𝛼(𝑋)]d𝑣	𝑞𝛼(𝑋)]d𝑣	PROPN
aijes-7163	47	2	=	=	PUNCT
aijes-7163	47	3	α	α	NOUN
aijes-7163	47	4	0	0	PUNCT
aijes-7163	48	1	−	−	PROPN
aijes-7163	48	2	𝐸[𝑟𝑖|𝑋	𝐸[𝑟𝑖|𝑋	PROPN
aijes-7163	48	3	≤	≤	NUM
aijes-7163	48	4	−𝑉𝑎𝑅𝛼(𝑥	−𝑉𝑎𝑅𝛼(𝑥	NOUN
aijes-7163	48	5	)	)	PUNCT
aijes-7163	48	6	]	]	PUNCT
aijes-7163	49	1	the	the	DET
aijes-7163	49	2	total	total	ADJ
aijes-7163	49	3	risk	risk	NOUN
aijes-7163	49	4	contribution	contribution	NOUN
aijes-7163	49	5	for	for	ADP
aijes-7163	49	6	each	each	DET
aijes-7163	49	7	asset	asset	NOUN
aijes-7163	49	8	i	i	PRON
aijes-7163	49	9	of	of	ADP
aijes-7163	49	10	a	a	DET
aijes-7163	49	11	portfolio	portfolio	NOUN
aijes-7163	49	12	is	be	AUX
aijes-7163	49	13	given	give	VERB
aijes-7163	49	14	from	from	ADP
aijes-7163	49	15	the	the	DET
aijes-7163	49	16	following	follow	VERB
aijes-7163	49	17	expression	expression	NOUN
aijes-7163	49	18	:	:	PUNCT
aijes-7163	49	19	𝑇𝑅𝐶𝑖	𝑇𝑅𝐶𝑖	PROPN
aijes-7163	49	20	𝐶𝑉𝑎𝑅𝛼(𝑥	𝐶𝑉𝑎𝑅𝛼(𝑥	NOUN
aijes-7163	49	21	)	)	PUNCT
aijes-7163	49	22	(	(	PUNCT
aijes-7163	49	23	𝑥	𝑥	NOUN
aijes-7163	49	24	)	)	PUNCT
aijes-7163	49	25	=	=	SYM
aijes-7163	49	26	𝑥𝑖	𝑥𝑖	ADP
aijes-7163	49	27	𝜕𝐶𝑉𝑎𝑅𝛼(𝑥	𝜕𝐶𝑉𝑎𝑅𝛼(𝑥	NOUN
aijes-7163	49	28	)	)	PUNCT
aijes-7163	49	29	𝜕𝑥𝑖	𝜕𝑥𝑖	PUNCT
aijes-7163	49	30	the	the	DET
aijes-7163	49	31	expression	expression	NOUN
aijes-7163	49	32	in	in	ADP
aijes-7163	49	33	case	case	NOUN
aijes-7163	49	34	of	of	ADP
aijes-7163	49	35	continuous	continuous	ADJ
aijes-7163	49	36	returns	return	NOUN
aijes-7163	49	37	distribution	distribution	NOUN
aijes-7163	49	38	is	be	AUX
aijes-7163	49	39	the	the	DET
aijes-7163	49	40	following	following	NOUN
aijes-7163	49	41	:	:	PUNCT
aijes-7163	49	42	𝑇𝑅𝐶𝑖	𝑇𝑅𝐶𝑖	PROPN
aijes-7163	49	43	𝐶𝑉𝑎𝑅𝛼(𝑥	𝐶𝑉𝑎𝑅𝛼(𝑥	NOUN
aijes-7163	49	44	)	)	PUNCT
aijes-7163	49	45	(	(	PUNCT
aijes-7163	49	46	𝑥	𝑥	NOUN
aijes-7163	49	47	)	)	PUNCT
aijes-7163	49	48	=	=	NOUN
aijes-7163	49	49	−𝑥𝑖𝐸[𝑟𝑖|𝑋	−𝑥𝑖𝐸[𝑟𝑖|𝑋	X
aijes-7163	49	50	≤	≤	X
aijes-7163	49	51	−𝑉𝑎𝑅𝛼(𝑥	−𝑉𝑎𝑅𝛼(𝑥	NOUN
aijes-7163	49	52	)	)	PUNCT
aijes-7163	49	53	]	]	PUNCT
aijes-7163	50	1	𝐶𝑉𝑎𝑅𝛼(𝑥	𝐶𝑉𝑎𝑅𝛼(𝑥	X
aijes-7163	50	2	)	)	PUNCT
aijes-7163	50	3	=	=	SYM
aijes-7163	50	4	∑	∑	PUNCT
aijes-7163	50	5	𝑇𝑅𝐶𝑖	𝑇𝑅𝐶𝑖	PROPN
aijes-7163	50	6	𝐶𝑉𝑎𝑅𝛼(𝑥	𝐶𝑉𝑎𝑅𝛼(𝑥	NOUN
aijes-7163	50	7	)	)	PUNCT
aijes-7163	50	8	(	(	PUNCT
aijes-7163	50	9	𝑥	𝑥	NOUN
aijes-7163	50	10	)	)	PUNCT
aijes-7163	50	11	𝑛	𝑛	PRON
aijes-7163	50	12	𝑖=1	𝑖=1	PUNCT
aijes-7163	50	13	=	=	SYM
aijes-7163	50	14	−	−	PROPN
aijes-7163	50	15	∑	∑	PUNCT
aijes-7163	50	16	𝑥𝑖𝐸[𝑟𝑖|𝑋	𝑥𝑖𝐸[𝑟𝑖|𝑋	VERB
aijes-7163	50	17	≤	≤	NOUN
aijes-7163	50	18	−𝑉𝑎𝑅𝛼(𝑥	−𝑉𝑎𝑅𝛼(𝑥	NOUN
aijes-7163	50	19	)	)	PUNCT
aijes-7163	50	20	]	]	PUNCT
aijes-7163	50	21	𝑛	𝑛	PRON
aijes-7163	50	22	𝑖=1	𝑖=1	PROPN
aijes-7163	50	23	exchange	exchange	NOUN
aijes-7163	50	24	-	-	PUNCT
aijes-7163	50	25	traded	trade	VERB
aijes-7163	50	26	funds	fund	NOUN
aijes-7163	50	27	(	(	PUNCT
aijes-7163	50	28	etfs	etfs	NOUN
aijes-7163	50	29	)	)	PUNCT
aijes-7163	50	30	optimization	optimization	NOUN
aijes-7163	50	31	with	with	ADP
aijes-7163	50	32	risk	risk	NOUN
aijes-7163	50	33	parity	parity	NOUN
aijes-7163	50	34	strategies	strategy	NOUN
aijes-7163	50	35	332	332	NUM
aijes-7163	50	36	numerical	numerical	ADJ
aijes-7163	50	37	approximation	approximation	NOUN
aijes-7163	50	38	for	for	ADP
aijes-7163	50	39	estimating	estimate	VERB
aijes-7163	50	40	𝑉𝑎𝑅𝛼(𝑥	𝑉𝑎𝑅𝛼(𝑥	NOUN
aijes-7163	50	41	)	)	PUNCT
aijes-7163	50	42	and	and	CCONJ
aijes-7163	50	43	𝐶𝑉𝑎𝑅𝛼(𝑥	𝐶𝑉𝑎𝑅𝛼(𝑥	ADJ
aijes-7163	50	44	)	)	PUNCT
aijes-7163	50	45	risk	risk	NOUN
aijes-7163	50	46	parity	parity	NOUN
aijes-7163	50	47	using	use	VERB
aijes-7163	50	48	historical	historical	ADJ
aijes-7163	50	49	data	datum	NOUN
aijes-7163	50	50	the	the	DET
aijes-7163	50	51	following	following	ADJ
aijes-7163	50	52	assumption	assumption	NOUN
aijes-7163	50	53	are	be	AUX
aijes-7163	50	54	neccessary	neccessary	ADJ
aijes-7163	50	55	.	.	PUNCT
aijes-7163	51	1	the	the	DET
aijes-7163	51	2	calculation	calculation	NOUN
aijes-7163	51	3	of	of	ADP
aijes-7163	51	4	𝑉𝑎𝑅𝛼(𝑥	𝑉𝑎𝑅𝛼(𝑥	PROPN
aijes-7163	51	5	)	)	PUNCT
aijes-7163	51	6	and	and	CCONJ
aijes-7163	51	7	𝐶𝑉𝑎𝑅𝛼(𝑥	𝐶𝑉𝑎𝑅𝛼(𝑥	NOUN
aijes-7163	51	8	)	)	PUNCT
aijes-7163	51	9	of	of	ADP
aijes-7163	51	10	portfolio	portfolio	NOUN
aijes-7163	51	11	returns	return	NOUN
aijes-7163	51	12	as	as	SCONJ
aijes-7163	51	13	follows	follow	VERB
aijes-7163	51	14	:	:	PUNCT
aijes-7163	51	15	𝑉𝑎𝑅𝛼(𝑥	𝑉𝑎𝑅𝛼(𝑥	PROPN
aijes-7163	51	16	)	)	PUNCT
aijes-7163	52	1	≈	≈	PROPN
aijes-7163	52	2	−𝑟p⌊αt⌋	−𝑟p⌊αt⌋	VERB
aijes-7163	52	3	sorted	sort	VERB
aijes-7163	52	4	𝐶𝑉𝑎𝑅𝛼(𝑥	𝐶𝑉𝑎𝑅𝛼(𝑥	NOUN
aijes-7163	52	5	)	)	PUNCT
aijes-7163	53	1	≈	≈	NOUN
aijes-7163	53	2	−	−	NOUN
aijes-7163	53	3	1	1	NUM
aijes-7163	53	4	αt	αt	PROPN
aijes-7163	53	5	∑	∑	PROPN
aijes-7163	53	6	𝑟p	𝑟p	PROPN
aijes-7163	53	7	j	j	PROPN
aijes-7163	53	8	sorted	sort	VERB
aijes-7163	53	9	⌊αt⌋	⌊αt⌋	VERB
aijes-7163	53	10	j=1	j=1	NOUN
aijes-7163	53	11	where	where	SCONJ
aijes-7163	53	12	the	the	DET
aijes-7163	53	13	i	i	PROPN
aijes-7163	53	14	-	-	PUNCT
aijes-7163	53	15	th	th	X
aijes-7163	53	16	asset	asset	NOUN
aijes-7163	53	17	return	return	NOUN
aijes-7163	53	18	ri	ri	NOUN
aijes-7163	53	19	consist	consist	NOUN
aijes-7163	53	20	of	of	ADP
aijes-7163	53	21	t	t	PROPN
aijes-7163	53	22	number	number	NOUN
aijes-7163	53	23	outcomes	outcome	NOUN
aijes-7163	53	24	rji	rji	VERB
aijes-7163	53	25	with	with	ADP
aijes-7163	53	26	i=1,	i=1,	NOUN
aijes-7163	53	27	.....	.....	PUNCT
aijes-7163	53	28	,n	,n	PUNCT
aijes-7163	53	29	and	and	CCONJ
aijes-7163	53	30	j=1,	j=1,	NOUN
aijes-7163	53	31	...	...	PUNCT
aijes-7163	53	32	,t	,t	X
aijes-7163	53	33	.	.	PUNCT
aijes-7163	54	1	the	the	DET
aijes-7163	54	2	vector	vector	NOUN
aijes-7163	54	3	of	of	ADP
aijes-7163	54	4	the	the	DET
aijes-7163	54	5	observed	observed	ADJ
aijes-7163	54	6	portfolio	portfolio	NOUN
aijes-7163	54	7	returns	return	NOUN
aijes-7163	54	8	is	be	AUX
aijes-7163	54	9	𝑅𝑃	𝑅𝑃	PROPN
aijes-7163	54	10	=	=	PUNCT
aijes-7163	54	11	(	(	PUNCT
aijes-7163	54	12	𝑟𝑝1	𝑟𝑝1	PROPN
aijes-7163	54	13	,	,	PUNCT
aijes-7163	54	14	…	…	PUNCT
aijes-7163	54	15	.	.	PUNCT
aijes-7163	54	16	.	.	PUNCT
aijes-7163	55	1	,	,	PUNCT
aijes-7163	55	2	𝑟𝑝𝑇	𝑟𝑝𝑇	PROPN
aijes-7163	55	3	)	)	PUNCT
aijes-7163	55	4	where	where	SCONJ
aijes-7163	55	5	:	:	PUNCT
aijes-7163	55	6	𝑟𝑝𝑗	𝑟𝑝𝑗	PROPN
aijes-7163	55	7	=	=	PUNCT
aijes-7163	55	8	𝑥′𝑟𝑗	𝑥′𝑟𝑗	PROPN
aijes-7163	55	9	with	with	ADP
aijes-7163	55	10	j=1,	j=1,	NOUN
aijes-7163	55	11	....	....	PUNCT
aijes-7163	55	12	,t	,t	PUNCT
aijes-7163	55	13	where	where	SCONJ
aijes-7163	55	14	𝑟𝑗	𝑟𝑗	ADP
aijes-7163	55	15	=	=	SYM
aijes-7163	55	16	(	(	PUNCT
aijes-7163	55	17	𝑟𝑗1	𝑟𝑗1	NOUN
aijes-7163	55	18	,	,	PUNCT
aijes-7163	55	19	…	…	PUNCT
aijes-7163	55	20	.	.	PUNCT
aijes-7163	55	21	.	.	PUNCT
aijes-7163	56	1	,	,	PUNCT
aijes-7163	56	2	𝑟𝑗𝑇	𝑟𝑗𝑇	PROPN
aijes-7163	56	3	)	)	PUNCT
aijes-7163	56	4	.	.	PUNCT
aijes-7163	57	1	where	where	SCONJ
aijes-7163	57	2	α	α	NOUN
aijes-7163	57	3	is	be	AUX
aijes-7163	57	4	level	level	NOUN
aijes-7163	57	5	of	of	ADP
aijes-7163	57	6	significance	significance	NOUN
aijes-7163	57	7	and	and	CCONJ
aijes-7163	57	8	rp	rp	PROPN
aijes-7163	57	9	j	j	PROPN
aijes-7163	57	10	sortedare	sortedare	NOUN
aijes-7163	57	11	the	the	DET
aijes-7163	57	12	sorted	sorted	ADJ
aijes-7163	57	13	portfolio	portfolio	NOUN
aijes-7163	57	14	returns	return	NOUN
aijes-7163	57	15	such	such	ADJ
aijes-7163	57	16	as	as	ADP
aijes-7163	57	17	𝑟𝑝	𝑟𝑝	PRON
aijes-7163	57	18	1	1	NUM
aijes-7163	57	19	𝑠𝑜𝑟𝑡𝑒𝑑	𝑠𝑜𝑟𝑡𝑒𝑑	NOUN
aijes-7163	57	20	≤	≤	NOUN
aijes-7163	57	21	𝑟𝑝	𝑟𝑝	ADP
aijes-7163	57	22	2	2	NUM
aijes-7163	57	23	𝑠𝑜𝑟𝑡𝑒𝑑	𝑠𝑜𝑟𝑡𝑒𝑑	NOUN
aijes-7163	57	24	≤	≤	NOUN
aijes-7163	57	25	⋯	⋯	ADP
aijes-7163	57	26	𝑟𝑝	𝑟𝑝	ADP
aijes-7163	57	27	𝑗	𝑗	PRON
aijes-7163	57	28	𝑠𝑜𝑟𝑡𝑒𝑑	𝑠𝑜𝑟𝑡𝑒𝑑	NOUN
aijes-7163	57	29	≤	≤	NOUN
aijes-7163	57	30	⋯	⋯	ADP
aijes-7163	57	31	≤	≤	NOUN
aijes-7163	57	32	𝑟𝑝	𝑟𝑝	ADP
aijes-7163	57	33	𝑗	𝑗	PRON
aijes-7163	57	34	𝑠𝑜𝑟𝑡𝑒𝑑	𝑠𝑜𝑟𝑡𝑒𝑑	NOUN
aijes-7163	57	35	with	with	ADP
aijes-7163	57	36	the	the	DET
aijes-7163	57	37	time	time	NOUN
aijes-7163	57	38	series	series	PROPN
aijes-7163	57	39	observation	observation	NOUN
aijes-7163	57	40	,	,	PUNCT
aijes-7163	57	41	the	the	DET
aijes-7163	57	42	approximation	approximation	NOUN
aijes-7163	57	43	of	of	ADP
aijes-7163	57	44	the	the	DET
aijes-7163	57	45	partial	partial	ADJ
aijes-7163	57	46	derivatives	derivative	NOUN
aijes-7163	57	47	𝐶𝑉𝑎𝑅𝛼(𝑥	𝐶𝑉𝑎𝑅𝛼(𝑥	NOUN
aijes-7163	57	48	)	)	PUNCT
aijes-7163	57	49	for	for	ADP
aijes-7163	57	50	each	each	DET
aijes-7163	57	51	asst	asst	NOUN
aijes-7163	57	52	i	i	PRON
aijes-7163	57	53	becomes	become	VERB
aijes-7163	57	54	:	:	PUNCT
aijes-7163	57	55	𝜕𝐶𝑉𝑎𝑅𝛼(𝑥	𝜕𝐶𝑉𝑎𝑅𝛼(𝑥	NOUN
aijes-7163	57	56	)	)	PUNCT
aijes-7163	57	57	𝜕𝑥𝑖	𝜕𝑥𝑖	PUNCT
aijes-7163	58	1	≈	≈	PROPN
aijes-7163	58	2	−	−	NOUN
aijes-7163	58	3	1	1	NUM
aijes-7163	58	4	αt	αt	PROPN
aijes-7163	58	5	∑	∑	PROPN
aijes-7163	58	6	𝑟k	𝑟k	NOUN
aijes-7163	59	1	i	i	PRON
aijes-7163	59	2	sorted⌊αt⌋	sorted⌊αt⌋	VERB
aijes-7163	59	3	k=1	k=1	PROPN
aijes-7163	59	4			PROPN
aijes-7163	59	5	i=1,	i=1,	PROPN
aijes-7163	59	6	...	...	PUNCT
aijes-7163	59	7	,n	,n	PUNCT
aijes-7163	59	8	and	and	CCONJ
aijes-7163	59	9	then	then	ADV
aijes-7163	59	10	the	the	DET
aijes-7163	59	11	total	total	ADJ
aijes-7163	59	12	risk	risk	NOUN
aijes-7163	59	13	contribution	contribution	NOUN
aijes-7163	59	14	of	of	ADP
aijes-7163	59	15	asset	asset	NOUN
aijes-7163	59	16	i	i	PRON
aijes-7163	59	17	is	be	AUX
aijes-7163	59	18	𝑇𝑅𝐶𝑖	𝑇𝑅𝐶𝑖	ADJ
aijes-7163	59	19	𝐶𝑉𝑎𝑅𝛼(𝑥	𝐶𝑉𝑎𝑅𝛼(𝑥	NOUN
aijes-7163	59	20	)	)	PUNCT
aijes-7163	59	21	(	(	PUNCT
aijes-7163	59	22	𝑥	𝑥	NOUN
aijes-7163	59	23	)	)	PUNCT
aijes-7163	59	24	=	=	SYM
aijes-7163	59	25	𝑥𝑖	𝑥𝑖	X
aijes-7163	59	26	𝜕𝐶𝑉𝑎𝑅𝛼(𝑥	𝜕𝐶𝑉𝑎𝑅𝛼(𝑥	NOUN
aijes-7163	59	27	)	)	PUNCT
aijes-7163	59	28	𝜕𝑥𝑖	𝜕𝑥𝑖	PUNCT
aijes-7163	60	1	≈	≈	PROPN
aijes-7163	60	2	−	−	NOUN
aijes-7163	60	3	1	1	NUM
aijes-7163	60	4	⌊αt⌋	⌊αt⌋	VERB
aijes-7163	60	5	𝑥𝑖	𝑥𝑖	ADP
aijes-7163	60	6	∑	∑	PUNCT
aijes-7163	60	7	𝑟k	𝑟k	PROPN
aijes-7163	60	8	i	i	PRON
aijes-7163	60	9	sorted	sort	VERB
aijes-7163	60	10	⌊αt⌋	⌊αt⌋	VERB
aijes-7163	60	11	k=1	k=1	X
aijes-7163	60	12	where	where	SCONJ
aijes-7163	60	13	𝑟k	𝑟k	NOUN
aijes-7163	60	14	i	i	PRON
aijes-7163	60	15	sorted	sort	VERB
aijes-7163	60	16	are	be	AUX
aijes-7163	60	17	the	the	DET
aijes-7163	60	18	corresponding	corresponding	ADJ
aijes-7163	60	19	returns	return	NOUN
aijes-7163	60	20	of	of	ADP
aijes-7163	60	21	asset	asset	NOUN
aijes-7163	60	22	i	i	PRON
aijes-7163	60	23	to	to	ADP
aijes-7163	60	24	the	the	DET
aijes-7163	60	25	sorted	sorted	ADJ
aijes-7163	60	26	portfolio	portfolio	NOUN
aijes-7163	60	27	returns	return	NOUN
aijes-7163	60	28	.	.	PUNCT
aijes-7163	61	1	in	in	ADP
aijes-7163	61	2	the	the	DET
aijes-7163	61	3	rolling	rolling	ADJ
aijes-7163	61	4	windows	window	NOUN
aijes-7163	61	5	,	,	PUNCT
aijes-7163	61	6	in	in	ADP
aijes-7163	61	7	order	order	NOUN
aijes-7163	61	8	to	to	ADP
aijes-7163	61	9	the	the	DET
aijes-7163	61	10	measure	measure	NOUN
aijes-7163	61	11	the	the	DET
aijes-7163	61	12	performance	performance	NOUN
aijes-7163	61	13	the	the	DET
aijes-7163	61	14	following	follow	VERB
aijes-7163	61	15	calculation	calculation	NOUN
aijes-7163	61	16	𝜇𝑇	𝜇𝑇	PROPN
aijes-7163	61	17	𝑐	𝑐	PROPN
aijes-7163	61	18	(	(	PUNCT
aijes-7163	61	19	𝑅𝑃	𝑅𝑃	PROPN
aijes-7163	61	20	)	)	PUNCT
aijes-7163	61	21	is	be	AUX
aijes-7163	61	22	the	the	DET
aijes-7163	61	23	compounded	compound	VERB
aijes-7163	61	24	return	return	NOUN
aijes-7163	61	25	over	over	ADP
aijes-7163	61	26	the	the	DET
aijes-7163	61	27	whole	whole	ADJ
aijes-7163	61	28	period	period	NOUN
aijes-7163	61	29	(	(	PUNCT
aijes-7163	61	30	terminal	terminal	NOUN
aijes-7163	61	31	compound	compound	NOUN
aijes-7163	61	32	return	return	NOUN
aijes-7163	61	33	)	)	PUNCT
aijes-7163	61	34	(	(	PUNCT
aijes-7163	61	35	bacon	bacon	NOUN
aijes-7163	61	36	,	,	PUNCT
aijes-7163	61	37	2008	2008	NUM
aijes-7163	61	38	,	,	PUNCT
aijes-7163	61	39	pp.130	pp.130	NOUN
aijes-7163	61	40	)	)	PUNCT
aijes-7163	61	41	.	.	PUNCT
aijes-7163	62	1	𝜇𝑘	𝜇𝑘	PROPN
aijes-7163	62	2	𝑐	𝑐	PROPN
aijes-7163	62	3	(	(	PUNCT
aijes-7163	62	4	𝑅𝑃	𝑅𝑃	PROPN
aijes-7163	62	5	)	)	PUNCT
aijes-7163	62	6	=	=	PUNCT
aijes-7163	63	1	∏(1	∏(1	ADJ
aijes-7163	63	2	+	+	CCONJ
aijes-7163	63	3	𝑟𝑝𝑗	𝑟𝑝𝑗	ADJ
aijes-7163	63	4	)	)	PUNCT
aijes-7163	63	5	𝑘	𝑘	ADP
aijes-7163	63	6	𝑗=1	𝑗=1	X
aijes-7163	63	7	−	−	ADP
aijes-7163	63	8	1	1	NUM
aijes-7163	63	9	to	to	PART
aijes-7163	63	10	check	check	VERB
aijes-7163	63	11	if	if	SCONJ
aijes-7163	63	12	the	the	DET
aijes-7163	63	13	portfolios	portfolio	NOUN
aijes-7163	63	14	are	be	AUX
aijes-7163	63	15	well	well	ADV
aijes-7163	63	16	diversified	diversified	ADJ
aijes-7163	63	17	,	,	PUNCT
aijes-7163	63	18	three	three	NUM
aijes-7163	63	19	diversification	diversification	NOUN
aijes-7163	63	20	measures	measure	NOUN
aijes-7163	63	21	are	be	AUX
aijes-7163	63	22	considered	consider	VERB
aijes-7163	63	23	(	(	PUNCT
aijes-7163	63	24	caporin	caporin	NOUN
aijes-7163	63	25	et	et	PROPN
aijes-7163	63	26	al	al	PROPN
aijes-7163	63	27	.	.	PROPN
aijes-7163	63	28	,	,	PUNCT
aijes-7163	63	29	2012	2012	NUM
aijes-7163	63	30	)	)	PUNCT
aijes-7163	63	31	.	.	PUNCT
aijes-7163	64	1	if	if	SCONJ
aijes-7163	64	2	the	the	DET
aijes-7163	64	3	allocation	allocation	NOUN
aijes-7163	64	4	is	be	AUX
aijes-7163	64	5	as	as	SCONJ
aijes-7163	64	6	follows	follow	VERB
aijes-7163	64	7	,	,	PUNCT
aijes-7163	64	8	x	x	PUNCT
aijes-7163	64	9	=	=	PRON
aijes-7163	64	10	(	(	PUNCT
aijes-7163	64	11	x1	x1	PROPN
aijes-7163	64	12	,	,	PUNCT
aijes-7163	64	13	x2,	x2,	PROPN
aijes-7163	64	14	.....	.....	PUNCT
aijes-7163	64	15	,xn	,xn	PUNCT
aijes-7163	64	16	)	)	PUNCT
aijes-7163	64	17	with	with	ADP
aijes-7163	64	18	the	the	DET
aijes-7163	64	19	constraint	constraint	NOUN
aijes-7163	64	20	∑	∑	PUNCT
aijes-7163	64	21	𝑥𝑖	𝑥𝑖	PROPN
aijes-7163	64	22	𝑛	𝑛	PRON
aijes-7163	64	23	𝑖=1	𝑖=1	PUNCT
aijes-7163	64	24	=	=	SYM
aijes-7163	64	25	1	1	NUM
aijes-7163	64	26	in	in	SCONJ
aijes-7163	64	27	case	case	NOUN
aijes-7163	64	28	short	short	ADJ
aijes-7163	64	29	sales	sale	NOUN
aijes-7163	64	30	not	not	PART
aijes-7163	64	31	allowed	allow	VERB
aijes-7163	64	32	(	(	PUNCT
aijes-7163	64	33	𝑥𝑖	𝑥𝑖	X
aijes-7163	64	34	≥	≥	NOUN
aijes-7163	64	35	0	0	NUM
aijes-7163	64	36	)	)	PUNCT
aijes-7163	64	37	.	.	PUNCT
aijes-7163	65	1	the	the	DET
aijes-7163	65	2	diversification	diversification	NOUN
aijes-7163	65	3	measure	measure	NOUN
aijes-7163	65	4	is	be	AUX
aijes-7163	65	5	the	the	DET
aijes-7163	65	6	herfindal	herfindal	ADJ
aijes-7163	65	7	index	index	NOUN
aijes-7163	65	8	:	:	PUNCT
aijes-7163	65	9	𝐷𝐻𝑒𝑟	𝐷𝐻𝑒𝑟	PROPN
aijes-7163	65	10	=	=	SYM
aijes-7163	66	1	1	1	NUM
aijes-7163	66	2	−	−	NOUN
aijes-7163	66	3	𝑥𝑥′	𝑥𝑥′	PROPN
aijes-7163	66	4	in	in	ADP
aijes-7163	66	5	the	the	DET
aijes-7163	66	6	same	same	ADJ
aijes-7163	66	7	way	way	NOUN
aijes-7163	66	8	,	,	PUNCT
aijes-7163	66	9	the	the	DET
aijes-7163	66	10	diversification	diversification	NOUN
aijes-7163	66	11	measure	measure	NOUN
aijes-7163	66	12	is	be	AUX
aijes-7163	66	13	given	give	VERB
aijes-7163	66	14	by	by	ADP
aijes-7163	66	15	(	(	PUNCT
aijes-7163	66	16	bera	bera	NOUN
aijes-7163	66	17	&	&	CCONJ
aijes-7163	66	18	park	park	PROPN
aijes-7163	66	19	,	,	PUNCT
aijes-7163	66	20	2004	2004	NUM
aijes-7163	66	21	p.2	p.2	NOUN
aijes-7163	66	22	)	)	PUNCT
aijes-7163	66	23	.	.	PUNCT
aijes-7163	67	1	𝐷𝐵𝑃	𝐷𝐵𝑃	PROPN
aijes-7163	67	2	=	=	PUNCT
aijes-7163	67	3	−	−	PROPN
aijes-7163	67	4	∑	∑	INTJ
aijes-7163	67	5	𝑥𝑖log	𝑥𝑖log	X
aijes-7163	67	6	(	(	PUNCT
aijes-7163	67	7	𝑥𝑖	𝑥𝑖	PROPN
aijes-7163	67	8	)	)	PUNCT
aijes-7163	67	9	𝑛	𝑛	PRON
aijes-7163	67	10	𝑖=1	𝑖=1	PUNCT
aijes-7163	67	11	=	=	PUNCT
aijes-7163	67	12	∑	∑	PUNCT
aijes-7163	67	13	𝑥𝑖log	𝑥𝑖log	X
aijes-7163	67	14	(	(	PUNCT
aijes-7163	67	15	1	1	NUM
aijes-7163	67	16	𝑥𝑖	𝑥𝑖	NOUN
aijes-7163	67	17	)	)	PUNCT
aijes-7163	67	18	𝑛	𝑛	PROPN
aijes-7163	67	19	𝑖=1	𝑖=1	PROPN
aijes-7163	68	1	the	the	DET
aijes-7163	68	2	𝐷𝐵𝑃	𝐷𝐵𝑃	NOUN
aijes-7163	68	3	takes	take	VERB
aijes-7163	68	4	value	value	NOUN
aijes-7163	68	5	between	between	ADP
aijes-7163	68	6	0	0	NUM
aijes-7163	68	7	(	(	PUNCT
aijes-7163	68	8	fully	fully	ADV
aijes-7163	68	9	concentrated	concentrate	VERB
aijes-7163	68	10	in	in	ADP
aijes-7163	68	11	one	one	NUM
aijes-7163	68	12	asset	asset	NOUN
aijes-7163	68	13	)	)	PUNCT
aijes-7163	68	14	and	and	CCONJ
aijes-7163	68	15	log(n	log(n	NOUN
aijes-7163	68	16	)	)	PUNCT
aijes-7163	68	17	for	for	ADP
aijes-7163	68	18	the	the	DET
aijes-7163	68	19	naïve	naïve	ADJ
aijes-7163	68	20	portfolio	portfolio	NOUN
aijes-7163	68	21	.	.	PUNCT
aijes-7163	69	1	another	another	DET
aijes-7163	69	2	important	important	ADJ
aijes-7163	69	3	aspect	aspect	NOUN
aijes-7163	69	4	is	be	AUX
aijes-7163	69	5	the	the	DET
aijes-7163	69	6	consideration	consideration	NOUN
aijes-7163	69	7	of	of	ADP
aijes-7163	69	8	the	the	DET
aijes-7163	69	9	transaction	transaction	NOUN
aijes-7163	69	10	costs	cost	NOUN
aijes-7163	69	11	,	,	PUNCT
aijes-7163	69	12	and	and	CCONJ
aijes-7163	69	13	for	for	ADP
aijes-7163	69	14	that	that	PRON
aijes-7163	69	15	,	,	PUNCT
aijes-7163	69	16	the	the	DET
aijes-7163	69	17	estimation	estimation	NOUN
aijes-7163	69	18	of	of	ADP
aijes-7163	69	19	the	the	DET
aijes-7163	69	20	turnover	turnover	NOUN
aijes-7163	69	21	of	of	ADP
aijes-7163	69	22	the	the	DET
aijes-7163	69	23	portfolio	portfolio	NOUN
aijes-7163	69	24	:	:	PUNCT
aijes-7163	69	25	𝑇𝑂	𝑇𝑂	PROPN
aijes-7163	69	26	=	=	PUNCT
aijes-7163	69	27	∑	∑	PROPN
aijes-7163	69	28	|𝑥𝑖	|𝑥𝑖	ADP
aijes-7163	69	29	𝑡+1	𝑡+1	PROPN
aijes-7163	69	30	−	−	NUM
aijes-7163	69	31	𝑥𝑖	𝑥𝑖	NUM
aijes-7163	69	32	𝑡|𝑛	𝑡|𝑛	PUNCT
aijes-7163	70	1	𝑖=1	𝑖=1	PROPN
aijes-7163	70	2	,	,	PUNCT
aijes-7163	70	3	where	where	SCONJ
aijes-7163	70	4	𝑥𝑖	𝑥𝑖	PROPN
aijes-7163	70	5	𝑡	𝑡	PROPN
aijes-7163	70	6	denotes	denote	VERB
aijes-7163	70	7	the	the	DET
aijes-7163	70	8	weight	weight	NOUN
aijes-7163	70	9	of	of	ADP
aijes-7163	70	10	asset	asset	NOUN
aijes-7163	70	11	i	i	PRON
aijes-7163	70	12	at	at	ADP
aijes-7163	70	13	time	time	NOUN
aijes-7163	70	14	t.	t.	PROPN
aijes-7163	70	15	denis	denis	PROPN
aijes-7163	70	16	veliu	veliu	VERB
aijes-7163	70	17	333	333	NUM
aijes-7163	70	18	results	result	NOUN
aijes-7163	70	19	in	in	ADP
aijes-7163	70	20	this	this	DET
aijes-7163	70	21	study	study	NOUN
aijes-7163	70	22	,	,	PUNCT
aijes-7163	70	23	the	the	DET
aijes-7163	70	24	dataset	dataset	NOUN
aijes-7163	70	25	covers	cover	VERB
aijes-7163	70	26	the	the	DET
aijes-7163	70	27	period	period	NOUN
aijes-7163	70	28	from	from	ADP
aijes-7163	70	29	january	january	PROPN
aijes-7163	70	30	9	9	NUM
aijes-7163	70	31	,	,	PUNCT
aijes-7163	70	32	2024	2024	NUM
aijes-7163	70	33	to	to	ADP
aijes-7163	70	34	january	january	PROPN
aijes-7163	70	35	8	8	NUM
aijes-7163	70	36	,	,	PUNCT
aijes-7163	70	37	2025	2025	NUM
aijes-7163	70	38	with	with	ADP
aijes-7163	70	39	daily	daily	ADJ
aijes-7163	70	40	frequency	frequency	NOUN
aijes-7163	70	41	.	.	PUNCT
aijes-7163	71	1	the	the	DET
aijes-7163	71	2	data	data	NOUN
aijes-7163	71	3	is	be	AUX
aijes-7163	71	4	available	available	ADJ
aijes-7163	71	5	at	at	ADP
aijes-7163	71	6	nasdaq.com	nasdaq.com	X
aijes-7163	71	7	.	.	PUNCT
aijes-7163	71	8	table	table	NOUN
aijes-7163	71	9	1	1	NUM
aijes-7163	71	10	.	.	PUNCT
aijes-7163	71	11	top	top	ADJ
aijes-7163	71	12	ea	ea	PROPN
aijes-7163	71	13	bridgeway	bridgeway	ADJ
aijes-7163	71	14	blue	blue	ADJ
aijes-7163	71	15	chip	chip	NOUN
aijes-7163	71	16	etf	etf	NOUN
aijes-7163	71	17	(	(	PUNCT
aijes-7163	71	18	bblu	bblu	NOUN
aijes-7163	71	19	)	)	PUNCT
aijes-7163	71	20	1	1	NUM
aijes-7163	71	21	meta	meta	NOUN
aijes-7163	71	22	platforms	platform	NOUN
aijes-7163	71	23	,	,	PUNCT
aijes-7163	71	24	inc	inc	PROPN
aijes-7163	71	25	.	.	PROPN
aijes-7163	71	26	class	class	PROPN
aijes-7163	71	27	a	a	DET
aijes-7163	71	28	common	common	ADJ
aijes-7163	71	29	stock	stock	NOUN
aijes-7163	71	30	(	(	PUNCT
aijes-7163	71	31	meta	meta	X
aijes-7163	71	32	)	)	PUNCT
aijes-7163	71	33	2	2	NUM
aijes-7163	71	34	nvidia	nvidia	PROPN
aijes-7163	71	35	corporation	corporation	NOUN
aijes-7163	71	36	common	common	ADJ
aijes-7163	71	37	stock	stock	NOUN
aijes-7163	71	38	(	(	PUNCT
aijes-7163	71	39	nvda	nvda	PROPN
aijes-7163	71	40	)	)	PUNCT
aijes-7163	71	41	3	3	NUM
aijes-7163	71	42	jp	jp	NOUN
aijes-7163	71	43	morgan	morgan	PROPN
aijes-7163	71	44	chase	chase	PROPN
aijes-7163	71	45	&	&	CCONJ
aijes-7163	71	46	co.	co.	PROPN
aijes-7163	71	47	common	common	ADJ
aijes-7163	71	48	stock	stock	NOUN
aijes-7163	71	49	(	(	PUNCT
aijes-7163	71	50	jpm	jpm	PROPN
aijes-7163	71	51	)	)	PUNCT
aijes-7163	71	52	4	4	NUM
aijes-7163	71	53	broadcom	broadcom	PROPN
aijes-7163	71	54	inc	inc	PROPN
aijes-7163	71	55	.	.	PROPN
aijes-7163	71	56	common	common	ADJ
aijes-7163	71	57	stock	stock	NOUN
aijes-7163	71	58	(	(	PUNCT
aijes-7163	71	59	avgo	avgo	PROPN
aijes-7163	71	60	)	)	PUNCT
aijes-7163	71	61	5	5	NUM
aijes-7163	71	62	tesla	tesla	PROPN
aijes-7163	71	63	,	,	PUNCT
aijes-7163	71	64	inc	inc	PROPN
aijes-7163	71	65	.	.	PROPN
aijes-7163	71	66	common	common	ADJ
aijes-7163	71	67	stock	stock	NOUN
aijes-7163	71	68	(	(	PUNCT
aijes-7163	71	69	tsla	tsla	PROPN
aijes-7163	71	70	)	)	PUNCT
aijes-7163	71	71	6	6	NUM
aijes-7163	71	72	apple	apple	PROPN
aijes-7163	71	73	inc	inc	PROPN
aijes-7163	71	74	.	.	PROPN
aijes-7163	71	75	common	common	ADJ
aijes-7163	71	76	stock	stock	NOUN
aijes-7163	71	77	(	(	PUNCT
aijes-7163	71	78	aapl	aapl	PROPN
aijes-7163	71	79	)	)	PUNCT
aijes-7163	71	80	7	7	NUM
aijes-7163	71	81	visa	visa	PROPN
aijes-7163	71	82	inc	inc	PROPN
aijes-7163	71	83	.	.	PUNCT
aijes-7163	72	1	(	(	PUNCT
aijes-7163	72	2	v	v	NOUN
aijes-7163	72	3	)	)	PUNCT
aijes-7163	72	4	8	8	NUM
aijes-7163	72	5	microsoft	microsoft	PROPN
aijes-7163	72	6	corporation	corporation	PROPN
aijes-7163	72	7	common	common	ADJ
aijes-7163	72	8	stock	stock	NOUN
aijes-7163	72	9	(	(	PUNCT
aijes-7163	72	10	msft	msft	NOUN
aijes-7163	72	11	)	)	PUNCT
aijes-7163	72	12	9	9	NUM
aijes-7163	72	13	eli	eli	PROPN
aijes-7163	72	14	lilly	lilly	PROPN
aijes-7163	72	15	and	and	CCONJ
aijes-7163	72	16	company	company	NOUN
aijes-7163	72	17	common	common	ADJ
aijes-7163	72	18	stock	stock	NOUN
aijes-7163	72	19	(	(	PUNCT
aijes-7163	72	20	lly	lly	ADV
aijes-7163	72	21	)	)	PUNCT
aijes-7163	72	22	10	10	NUM
aijes-7163	72	23	wells	wells	PROPN
aijes-7163	72	24	fargo	fargo	PROPN
aijes-7163	72	25	&	&	CCONJ
aijes-7163	72	26	company	company	PROPN
aijes-7163	72	27	common	common	ADJ
aijes-7163	72	28	stock	stock	NOUN
aijes-7163	72	29	(	(	PUNCT
aijes-7163	72	30	wfc	wfc	PROPN
aijes-7163	72	31	)	)	PUNCT
aijes-7163	72	32	source	source	NOUN
aijes-7163	72	33	:	:	PUNCT
aijes-7163	72	34	nasdaq.com	nasdaq.com	X
aijes-7163	72	35	the	the	DET
aijes-7163	72	36	reason	reason	NOUN
aijes-7163	72	37	these	these	DET
aijes-7163	72	38	stocks	stock	NOUN
aijes-7163	72	39	are	be	AUX
aijes-7163	72	40	selected	select	VERB
aijes-7163	72	41	is	be	AUX
aijes-7163	72	42	because	because	SCONJ
aijes-7163	72	43	they	they	PRON
aijes-7163	72	44	comprise	comprise	VERB
aijes-7163	72	45	the	the	DET
aijes-7163	72	46	top	top	ADJ
aijes-7163	72	47	components	component	NOUN
aijes-7163	72	48	of	of	ADP
aijes-7163	72	49	the	the	DET
aijes-7163	72	50	ea	ea	PROPN
aijes-7163	72	51	bridgeway	bridgeway	ADJ
aijes-7163	72	52	blue	blue	ADJ
aijes-7163	72	53	chip	chip	NOUN
aijes-7163	72	54	etf	etf	NOUN
aijes-7163	72	55	(	(	PUNCT
aijes-7163	72	56	bblu	bblu	NOUN
aijes-7163	72	57	)	)	PUNCT
aijes-7163	72	58	.	.	PUNCT
aijes-7163	73	1	in	in	ADP
aijes-7163	73	2	this	this	DET
aijes-7163	73	3	way	way	NOUN
aijes-7163	73	4	,	,	PUNCT
aijes-7163	73	5	it	it	PRON
aijes-7163	73	6	will	will	AUX
aijes-7163	73	7	be	be	AUX
aijes-7163	73	8	interesting	interesting	ADJ
aijes-7163	73	9	to	to	PART
aijes-7163	73	10	allocate	allocate	VERB
aijes-7163	73	11	the	the	DET
aijes-7163	73	12	optimal	optimal	ADJ
aijes-7163	73	13	weights	weight	NOUN
aijes-7163	73	14	using	use	VERB
aijes-7163	73	15	different	different	ADJ
aijes-7163	73	16	strategies	strategy	NOUN
aijes-7163	73	17	and	and	CCONJ
aijes-7163	73	18	compare	compare	VERB
aijes-7163	73	19	their	their	PRON
aijes-7163	73	20	performance	performance	NOUN
aijes-7163	73	21	among	among	ADP
aijes-7163	73	22	them	they	PRON
aijes-7163	73	23	.	.	PUNCT
aijes-7163	74	1	figure	figure	VERB
aijes-7163	74	2	1	1	NUM
aijes-7163	74	3	.	.	PUNCT
aijes-7163	75	1	the	the	DET
aijes-7163	75	2	heatmap	heatmap	NOUN
aijes-7163	75	3	of	of	ADP
aijes-7163	75	4	the	the	DET
aijes-7163	75	5	correlation	correlation	NOUN
aijes-7163	75	6	matrix	matrix	NOUN
aijes-7163	75	7	figure	figure	NOUN
aijes-7163	75	8	1	1	NUM
aijes-7163	75	9	presents	present	VERB
aijes-7163	75	10	a	a	DET
aijes-7163	75	11	heatmap	heatmap	ADJ
aijes-7163	75	12	-	-	PUNCT
aijes-7163	75	13	style	style	NOUN
aijes-7163	75	14	correlation	correlation	NOUN
aijes-7163	75	15	matrix	matrix	NOUN
aijes-7163	75	16	where	where	SCONJ
aijes-7163	75	17	each	each	DET
aijes-7163	75	18	cell	cell	NOUN
aijes-7163	75	19	contains	contain	VERB
aijes-7163	75	20	a	a	DET
aijes-7163	75	21	numerical	numerical	ADJ
aijes-7163	75	22	value	value	NOUN
aijes-7163	75	23	representing	represent	VERB
aijes-7163	75	24	the	the	DET
aijes-7163	75	25	correlation	correlation	NOUN
aijes-7163	75	26	between	between	ADP
aijes-7163	75	27	two	two	NUM
aijes-7163	75	28	variables	variable	NOUN
aijes-7163	75	29	.	.	PUNCT
aijes-7163	76	1	all	all	DET
aijes-7163	76	2	diagonal	diagonal	ADJ
aijes-7163	76	3	values	value	NOUN
aijes-7163	76	4	are	be	AUX
aijes-7163	76	5	100	100	NUM
aijes-7163	76	6	%	%	NOUN
aijes-7163	76	7	(	(	PUNCT
aijes-7163	76	8	in	in	ADP
aijes-7163	76	9	red	red	NOUN
aijes-7163	76	10	)	)	PUNCT
aijes-7163	76	11	,	,	PUNCT
aijes-7163	76	12	which	which	PRON
aijes-7163	76	13	reflects	reflect	VERB
aijes-7163	76	14	perfect	perfect	ADJ
aijes-7163	76	15	correlation	correlation	NOUN
aijes-7163	76	16	of	of	ADP
aijes-7163	76	17	each	each	DET
aijes-7163	76	18	variable	variable	NOUN
aijes-7163	76	19	with	with	ADP
aijes-7163	76	20	itself	itself	PRON
aijes-7163	76	21	.	.	PUNCT
aijes-7163	77	1	red	red	ADJ
aijes-7163	77	2	:	:	PUNCT
aijes-7163	77	3	represents	represent	VERB
aijes-7163	77	4	the	the	DET
aijes-7163	77	5	highest	high	ADJ
aijes-7163	77	6	positive	positive	ADJ
aijes-7163	77	7	correlation	correlation	NOUN
aijes-7163	77	8	(	(	PUNCT
aijes-7163	77	9	close	close	ADV
aijes-7163	77	10	to	to	PART
aijes-7163	77	11	100	100	NUM
aijes-7163	77	12	%	%	NOUN
aijes-7163	77	13	)	)	PUNCT
aijes-7163	77	14	.	.	PUNCT
aijes-7163	78	1	green	green	ADJ
aijes-7163	78	2	:	:	PUNCT
aijes-7163	78	3	represents	represent	VERB
aijes-7163	78	4	weaker	weak	ADJ
aijes-7163	78	5	or	or	CCONJ
aijes-7163	78	6	negative	negative	ADJ
aijes-7163	78	7	correlations	correlation	NOUN
aijes-7163	78	8	.	.	PUNCT
aijes-7163	79	1	yellow	yellow	ADJ
aijes-7163	79	2	/	/	SYM
aijes-7163	79	3	orange	orange	PROPN
aijes-7163	79	4	:	:	PUNCT
aijes-7163	79	5	represents	represent	VERB
aijes-7163	79	6	moderate	moderate	ADJ
aijes-7163	79	7	positive	positive	ADJ
aijes-7163	79	8	correlations	correlation	NOUN
aijes-7163	79	9	.	.	PUNCT
aijes-7163	80	1	the	the	DET
aijes-7163	80	2	heatmap	heatmap	NOUN
aijes-7163	80	3	suggests	suggest	VERB
aijes-7163	80	4	a	a	DET
aijes-7163	80	5	symmetric	symmetric	ADJ
aijes-7163	80	6	matrix	matrix	NOUN
aijes-7163	80	7	(	(	PUNCT
aijes-7163	80	8	correlation	correlation	NOUN
aijes-7163	80	9	matrices	matrix	NOUN
aijes-7163	80	10	are	be	AUX
aijes-7163	80	11	symmetric	symmetric	ADJ
aijes-7163	80	12	by	by	ADP
aijes-7163	80	13	definition	definition	NOUN
aijes-7163	80	14	)	)	PUNCT
aijes-7163	80	15	.	.	PUNCT
aijes-7163	81	1	the	the	DET
aijes-7163	81	2	variables	variable	NOUN
aijes-7163	81	3	are	be	AUX
aijes-7163	81	4	represented	represent	VERB
aijes-7163	81	5	both	both	CCONJ
aijes-7163	81	6	horizontally	horizontally	ADV
aijes-7163	81	7	and	and	CCONJ
aijes-7163	81	8	vertically	vertically	ADV
aijes-7163	81	9	,	,	PUNCT
aijes-7163	81	10	indicating	indicate	VERB
aijes-7163	81	11	the	the	DET
aijes-7163	81	12	relationship	relationship	NOUN
aijes-7163	81	13	between	between	ADP
aijes-7163	81	14	the	the	DET
aijes-7163	81	15	same	same	ADJ
aijes-7163	81	16	set	set	NOUN
aijes-7163	81	17	of	of	ADP
aijes-7163	81	18	items	item	NOUN
aijes-7163	81	19	.	.	PUNCT
aijes-7163	82	1	many	many	ADJ
aijes-7163	82	2	variables	variable	NOUN
aijes-7163	82	3	exhibit	exhibit	VERB
aijes-7163	82	4	strong	strong	ADJ
aijes-7163	82	5	positive	positive	ADJ
aijes-7163	82	6	correlations	correlation	NOUN
aijes-7163	82	7	(	(	PUNCT
aijes-7163	82	8	>	>	X
aijes-7163	82	9	80	80	NUM
aijes-7163	82	10	%	%	NOUN
aijes-7163	82	11	)	)	PUNCT
aijes-7163	82	12	as	as	SCONJ
aijes-7163	82	13	indicated	indicate	VERB
aijes-7163	82	14	by	by	ADP
aijes-7163	82	15	the	the	DET
aijes-7163	82	16	red	red	ADJ
aijes-7163	82	17	and	and	CCONJ
aijes-7163	82	18	orange	orange	NOUN
aijes-7163	82	19	cells	cell	NOUN
aijes-7163	82	20	.	.	PUNCT
aijes-7163	83	1	clusters	cluster	NOUN
aijes-7163	83	2	of	of	ADP
aijes-7163	83	3	high	high	ADJ
aijes-7163	83	4	correlation	correlation	NOUN
aijes-7163	83	5	suggest	suggest	VERB
aijes-7163	83	6	that	that	SCONJ
aijes-7163	83	7	certain	certain	ADJ
aijes-7163	83	8	variables	variable	NOUN
aijes-7163	83	9	behave	behave	VERB
aijes-7163	83	10	similarly	similarly	ADV
aijes-7163	83	11	or	or	CCONJ
aijes-7163	83	12	share	share	VERB
aijes-7163	83	13	strong	strong	ADJ
aijes-7163	83	14	linear	linear	ADJ
aijes-7163	83	15	relationships	relationship	NOUN
aijes-7163	83	16	.	.	PUNCT
aijes-7163	84	1	yellow	yellow	ADJ
aijes-7163	84	2	cells	cell	NOUN
aijes-7163	84	3	indicate	indicate	VERB
aijes-7163	84	4	moderate	moderate	ADJ
aijes-7163	84	5	correlations	correlation	NOUN
aijes-7163	84	6	(	(	PUNCT
aijes-7163	84	7	40%–70	40%–70	NUM
aijes-7163	84	8	%	%	NOUN
aijes-7163	84	9	)	)	PUNCT
aijes-7163	84	10	.	.	PUNCT
aijes-7163	85	1	these	these	DET
aijes-7163	85	2	relationships	relationship	NOUN
aijes-7163	85	3	are	be	AUX
aijes-7163	85	4	still	still	ADV
aijes-7163	85	5	positive	positive	ADJ
aijes-7163	85	6	but	but	CCONJ
aijes-7163	85	7	weaker	weak	ADJ
aijes-7163	85	8	than	than	ADP
aijes-7163	85	9	the	the	DET
aijes-7163	85	10	stronger	strong	ADJ
aijes-7163	85	11	clusters	cluster	NOUN
aijes-7163	85	12	.	.	PUNCT
aijes-7163	86	1	moderate	moderate	ADJ
aijes-7163	86	2	correlations	correlation	NOUN
aijes-7163	86	3	could	could	AUX
aijes-7163	86	4	imply	imply	VERB
aijes-7163	86	5	indirect	indirect	ADJ
aijes-7163	86	6	relationships	relationship	NOUN
aijes-7163	86	7	or	or	CCONJ
aijes-7163	86	8	shared	share	VERB
aijes-7163	86	9	dependence	dependence	NOUN
aijes-7163	86	10	on	on	ADP
aijes-7163	86	11	other	other	ADJ
aijes-7163	86	12	factors	factor	NOUN
aijes-7163	86	13	.	.	PUNCT
aijes-7163	87	1	the	the	DET
aijes-7163	87	2	-12.8	-12.8	NUM
aijes-7163	87	3	%	%	NOUN
aijes-7163	87	4	correlation	correlation	NOUN
aijes-7163	87	5	stands	stand	VERB
aijes-7163	87	6	out	out	ADP
aijes-7163	87	7	as	as	ADP
aijes-7163	87	8	a	a	DET
aijes-7163	87	9	clear	clear	ADJ
aijes-7163	87	10	example	example	NOUN
aijes-7163	87	11	of	of	ADP
aijes-7163	87	12	an	an	DET
aijes-7163	87	13	inverse	inverse	NOUN
aijes-7163	87	14	relationship	relationship	NOUN
aijes-7163	87	15	between	between	ADP
aijes-7163	87	16	two	two	NUM
aijes-7163	87	17	variables	variable	NOUN
aijes-7163	87	18	.	.	PUNCT
aijes-7163	88	1	this	this	PRON
aijes-7163	88	2	suggests	suggest	VERB
aijes-7163	88	3	that	that	SCONJ
aijes-7163	88	4	as	as	ADP
aijes-7163	88	5	one	one	NUM
aijes-7163	88	6	variable	variable	ADJ
aijes-7163	88	7	increases	increase	NOUN
aijes-7163	88	8	,	,	PUNCT
aijes-7163	88	9	the	the	DET
aijes-7163	88	10	other	other	ADJ
aijes-7163	88	11	tends	tend	VERB
aijes-7163	88	12	to	to	PART
aijes-7163	88	13	decrease	decrease	VERB
aijes-7163	88	14	.	.	PUNCT
aijes-7163	89	1	negative	negative	ADJ
aijes-7163	89	2	correlations	correlation	NOUN
aijes-7163	89	3	,	,	PUNCT
aijes-7163	89	4	though	though	SCONJ
aijes-7163	89	5	rare	rare	ADJ
aijes-7163	89	6	in	in	ADP
aijes-7163	89	7	this	this	DET
aijes-7163	89	8	matrix	matrix	NOUN
aijes-7163	89	9	,	,	PUNCT
aijes-7163	89	10	might	might	AUX
aijes-7163	89	11	signal	signal	VERB
aijes-7163	89	12	opposing	oppose	VERB
aijes-7163	89	13	behavior	behavior	NOUN
aijes-7163	89	14	or	or	CCONJ
aijes-7163	89	15	complementary	complementary	ADJ
aijes-7163	89	16	roles	role	NOUN
aijes-7163	89	17	like	like	ADP
aijes-7163	89	18	in	in	ADP
aijes-7163	89	19	the	the	DET
aijes-7163	89	20	case	case	NOUN
aijes-7163	89	21	of	of	ADP
aijes-7163	89	22	eli	eli	PROPN
aijes-7163	89	23	with	with	ADP
aijes-7163	89	24	visa	visa	NOUN
aijes-7163	89	25	.	.	PUNCT
aijes-7163	90	1	meta	meta	PROPN
aijes-7163	90	2	nvidia	nvidia	PROPN
aijes-7163	90	3	jpm	jpm	PROPN
aijes-7163	90	4	avgo	avgo	PROPN
aijes-7163	90	5	tesla	tesla	PROPN
aijes-7163	90	6	apple	apple	PROPN
aijes-7163	90	7	visa	visa	PROPN
aijes-7163	90	8	micro	micro	PROPN
aijes-7163	90	9	eli	eli	PROPN
aijes-7163	90	10	wfc	wfc	PROPN
aijes-7163	90	11	meta	meta	PROPN
aijes-7163	90	12	100.0	100.0	NUM
aijes-7163	90	13	%	%	NOUN
aijes-7163	90	14	nvidia	nvidia	PROPN
aijes-7163	90	15	83.9	83.9	NUM
aijes-7163	90	16	%	%	NOUN
aijes-7163	90	17	100.0	100.0	NUM
aijes-7163	90	18	%	%	NOUN
aijes-7163	90	19	jpm	jpm	PROPN
aijes-7163	90	20	84.7	84.7	NUM
aijes-7163	90	21	%	%	NOUN
aijes-7163	90	22	88.8	88.8	NUM
aijes-7163	90	23	%	%	NOUN
aijes-7163	90	24	100.0	100.0	NUM
aijes-7163	90	25	%	%	NOUN
aijes-7163	90	26	avgo	avgo	NOUN
aijes-7163	90	27	81.8	81.8	NUM
aijes-7163	90	28	%	%	NOUN
aijes-7163	90	29	82.1	82.1	NUM
aijes-7163	90	30	%	%	NOUN
aijes-7163	90	31	80.0	80.0	NUM
aijes-7163	90	32	%	%	NOUN
aijes-7163	90	33	100.0	100.0	NUM
aijes-7163	90	34	%	%	NOUN
aijes-7163	90	35	tesla	tesla	PROPN
aijes-7163	90	36	68.7	68.7	NUM
aijes-7163	90	37	%	%	NOUN
aijes-7163	90	38	62.3	62.3	NUM
aijes-7163	90	39	%	%	NOUN
aijes-7163	90	40	79.3	79.3	NUM
aijes-7163	90	41	%	%	NOUN
aijes-7163	90	42	81.5	81.5	NUM
aijes-7163	90	43	%	%	NOUN
aijes-7163	90	44	100.0	100.0	NUM
aijes-7163	90	45	%	%	NOUN
aijes-7163	90	46	apple	apple	NOUN
aijes-7163	90	47	71.7	71.7	NUM
aijes-7163	90	48	%	%	NOUN
aijes-7163	90	49	83.5	83.5	NUM
aijes-7163	90	50	%	%	NOUN
aijes-7163	90	51	81.6	81.6	NUM
aijes-7163	90	52	%	%	NOUN
aijes-7163	90	53	85.7	85.7	NUM
aijes-7163	90	54	%	%	NOUN
aijes-7163	90	55	78.7	78.7	NUM
aijes-7163	90	56	%	%	NOUN
aijes-7163	90	57	100.0	100.0	NUM
aijes-7163	90	58	%	%	NOUN
aijes-7163	90	59	visa	visa	NOUN
aijes-7163	90	60	67.6	67.6	NUM
aijes-7163	90	61	%	%	NOUN
aijes-7163	90	62	48.8	48.8	NUM
aijes-7163	90	63	%	%	NOUN
aijes-7163	90	64	71.0	71.0	NUM
aijes-7163	90	65	%	%	NOUN
aijes-7163	90	66	60.9	60.9	NUM
aijes-7163	90	67	%	%	NOUN
aijes-7163	90	68	80.0	80.0	NUM
aijes-7163	90	69	%	%	NOUN
aijes-7163	90	70	47.5	47.5	NUM
aijes-7163	90	71	%	%	NOUN
aijes-7163	90	72	100.0	100.0	NUM
aijes-7163	90	73	%	%	NOUN
aijes-7163	90	74	micro	micro	NOUN
aijes-7163	90	75	50.1	50.1	NUM
aijes-7163	90	76	%	%	NOUN
aijes-7163	90	77	61.3	61.3	NUM
aijes-7163	90	78	%	%	NOUN
aijes-7163	90	79	43.7	43.7	NUM
aijes-7163	90	80	%	%	NOUN
aijes-7163	90	81	56.2	56.2	NUM
aijes-7163	90	82	%	%	NOUN
aijes-7163	90	83	36.8	36.8	NUM
aijes-7163	90	84	%	%	NOUN
aijes-7163	90	85	50.2	50.2	NUM
aijes-7163	90	86	%	%	NOUN
aijes-7163	90	87	22.0	22.0	NUM
aijes-7163	90	88	%	%	NOUN
aijes-7163	90	89	100.0	100.0	NUM
aijes-7163	90	90	%	%	NOUN
aijes-7163	90	91	eli	eli	PROPN
aijes-7163	90	92	50.3	50.3	NUM
aijes-7163	90	93	%	%	NOUN
aijes-7163	90	94	66.1	66.1	NUM
aijes-7163	90	95	%	%	NOUN
aijes-7163	90	96	41.7	41.7	NUM
aijes-7163	90	97	%	%	NOUN
aijes-7163	90	98	44.1	44.1	NUM
aijes-7163	90	99	%	%	NOUN
aijes-7163	90	100	4.1	4.1	NUM
aijes-7163	90	101	%	%	NOUN
aijes-7163	90	102	53.3	53.3	NUM
aijes-7163	90	103	%	%	NOUN
aijes-7163	90	104	-12.8	-12.8	NOUN
aijes-7163	90	105	%	%	NOUN
aijes-7163	90	106	53.2	53.2	NUM
aijes-7163	90	107	%	%	NOUN
aijes-7163	90	108	100.0	100.0	NUM
aijes-7163	90	109	%	%	NOUN
aijes-7163	90	110	wfc	wfc	PROPN
aijes-7163	90	111	71.9	71.9	NUM
aijes-7163	90	112	%	%	NOUN
aijes-7163	90	113	73.7	73.7	NUM
aijes-7163	90	114	%	%	NOUN
aijes-7163	90	115	87.9	87.9	NUM
aijes-7163	90	116	%	%	NOUN
aijes-7163	90	117	65.7	65.7	NUM
aijes-7163	90	118	%	%	NOUN
aijes-7163	90	119	73.3	73.3	NUM
aijes-7163	90	120	%	%	NOUN
aijes-7163	90	121	56.2	56.2	NUM
aijes-7163	90	122	%	%	NOUN
aijes-7163	90	123	78.8	78.8	NUM
aijes-7163	90	124	%	%	NOUN
aijes-7163	90	125	39.8	39.8	NUM
aijes-7163	90	126	%	%	NOUN
aijes-7163	90	127	11.1	11.1	NUM
aijes-7163	90	128	%	%	NOUN
aijes-7163	90	129	100.0	100.0	NUM
aijes-7163	90	130	%	%	NOUN
aijes-7163	90	131	exchange	exchange	NOUN
aijes-7163	90	132	-	-	PUNCT
aijes-7163	90	133	traded	trade	VERB
aijes-7163	90	134	funds	fund	NOUN
aijes-7163	90	135	(	(	PUNCT
aijes-7163	90	136	etfs	etfs	NOUN
aijes-7163	90	137	)	)	PUNCT
aijes-7163	90	138	optimization	optimization	NOUN
aijes-7163	90	139	with	with	ADP
aijes-7163	90	140	risk	risk	NOUN
aijes-7163	90	141	parity	parity	NOUN
aijes-7163	90	142	strategies	strategy	NOUN
aijes-7163	90	143	334	334	NUM
aijes-7163	90	144	figure	figure	NOUN
aijes-7163	90	145	2	2	NUM
aijes-7163	90	146	.	.	PUNCT
aijes-7163	91	1	the	the	DET
aijes-7163	91	2	graph	graph	NOUN
aijes-7163	91	3	of	of	ADP
aijes-7163	91	4	the	the	DET
aijes-7163	91	5	returns	return	NOUN
aijes-7163	91	6	of	of	ADP
aijes-7163	91	7	the	the	DET
aijes-7163	91	8	ten	ten	NUM
aijes-7163	91	9	assets	asset	NOUN
aijes-7163	91	10	the	the	DET
aijes-7163	91	11	figure	figure	NOUN
aijes-7163	91	12	2	2	NUM
aijes-7163	91	13	represents	represent	VERB
aijes-7163	91	14	the	the	DET
aijes-7163	91	15	daily	daily	ADJ
aijes-7163	91	16	returns	return	NOUN
aijes-7163	91	17	of	of	ADP
aijes-7163	91	18	10	10	NUM
aijes-7163	91	19	assets	asset	NOUN
aijes-7163	91	20	plotted	plot	VERB
aijes-7163	91	21	over	over	ADP
aijes-7163	91	22	a	a	DET
aijes-7163	91	23	time	time	NOUN
aijes-7163	91	24	period	period	NOUN
aijes-7163	91	25	of	of	ADP
aijes-7163	91	26	approximately	approximately	ADV
aijes-7163	91	27	251	251	NUM
aijes-7163	91	28	days	day	NOUN
aijes-7163	91	29	.	.	PUNCT
aijes-7163	92	1	the	the	DET
aijes-7163	92	2	daily	daily	ADJ
aijes-7163	92	3	returns	return	NOUN
aijes-7163	92	4	fluctuate	fluctuate	VERB
aijes-7163	92	5	around	around	ADP
aijes-7163	92	6	zero	zero	NUM
aijes-7163	92	7	,	,	PUNCT
aijes-7163	92	8	with	with	ADP
aijes-7163	92	9	the	the	DET
aijes-7163	92	10	majority	majority	NOUN
aijes-7163	92	11	of	of	ADP
aijes-7163	92	12	returns	return	NOUN
aijes-7163	92	13	falling	fall	VERB
aijes-7163	92	14	within	within	ADP
aijes-7163	92	15	the	the	DET
aijes-7163	92	16	range	range	NOUN
aijes-7163	92	17	of	of	ADP
aijes-7163	92	18	-0.15	-0.15	NUM
aijes-7163	92	19	to	to	ADP
aijes-7163	92	20	0.25	0.25	NUM
aijes-7163	92	21	.	.	PUNCT
aijes-7163	93	1	the	the	DET
aijes-7163	93	2	spikes	spike	NOUN
aijes-7163	93	3	indicate	indicate	VERB
aijes-7163	93	4	days	day	NOUN
aijes-7163	93	5	with	with	ADP
aijes-7163	93	6	significant	significant	ADJ
aijes-7163	93	7	movements	movement	NOUN
aijes-7163	93	8	in	in	ADP
aijes-7163	93	9	returns	return	NOUN
aijes-7163	93	10	,	,	PUNCT
aijes-7163	93	11	likely	likely	ADV
aijes-7163	93	12	driven	drive	VERB
aijes-7163	93	13	by	by	ADP
aijes-7163	93	14	market	market	NOUN
aijes-7163	93	15	events	event	NOUN
aijes-7163	93	16	.	.	PUNCT
aijes-7163	94	1	from	from	ADP
aijes-7163	94	2	a	a	DET
aijes-7163	94	3	visual	visual	ADJ
aijes-7163	94	4	inspection	inspection	NOUN
aijes-7163	94	5	,	,	PUNCT
aijes-7163	94	6	there	there	PRON
aijes-7163	94	7	are	be	VERB
aijes-7163	94	8	some	some	DET
aijes-7163	94	9	similar	similar	ADJ
aijes-7163	94	10	patterns	pattern	NOUN
aijes-7163	94	11	across	across	ADP
aijes-7163	94	12	the	the	DET
aijes-7163	94	13	lines	line	NOUN
aijes-7163	94	14	,	,	PUNCT
aijes-7163	94	15	suggesting	suggest	VERB
aijes-7163	94	16	potential	potential	ADJ
aijes-7163	94	17	correlation	correlation	NOUN
aijes-7163	94	18	between	between	ADP
aijes-7163	94	19	certain	certain	ADJ
aijes-7163	94	20	assets	asset	NOUN
aijes-7163	94	21	.	.	PUNCT
aijes-7163	95	1	before	before	ADP
aijes-7163	95	2	creating	create	VERB
aijes-7163	95	3	a	a	DET
aijes-7163	95	4	rolling	rolling	ADJ
aijes-7163	95	5	window	window	NOUN
aijes-7163	95	6	,	,	PUNCT
aijes-7163	95	7	in	in	ADP
aijes-7163	95	8	table	table	NOUN
aijes-7163	95	9	2	2	NUM
aijes-7163	95	10	are	be	AUX
aijes-7163	95	11	showed	show	VERB
aijes-7163	95	12	the	the	DET
aijes-7163	95	13	first	first	ADJ
aijes-7163	95	14	iteration	iteration	NOUN
aijes-7163	95	15	using	use	VERB
aijes-7163	95	16	125	125	NUM
aijes-7163	95	17	observations	observation	NOUN
aijes-7163	95	18	:	:	PUNCT
aijes-7163	95	19	table	table	NOUN
aijes-7163	95	20	2	2	NUM
aijes-7163	95	21	.	.	PUNCT
aijes-7163	96	1	the	the	DET
aijes-7163	96	2	allocation	allocation	NOUN
aijes-7163	96	3	in	in	ADP
aijes-7163	96	4	%	%	NOUN
aijes-7163	96	5	in	in	ADP
aijes-7163	96	6	of	of	ADP
aijes-7163	96	7	each	each	PRON
aijes-7163	96	8	of	of	ADP
aijes-7163	96	9	assets	asset	NOUN
aijes-7163	96	10	optimization	optimization	NOUN
aijes-7163	96	11	model	model	NOUN
aijes-7163	96	12	meta	meta	PROPN
aijes-7163	96	13	nvidia	nvidia	PROPN
aijes-7163	96	14	jpm	jpm	PROPN
aijes-7163	96	15	avgo	avgo	PROPN
aijes-7163	96	16	tesla	tesla	PROPN
aijes-7163	96	17	apple	apple	PROPN
aijes-7163	96	18	visa	visa	PROPN
aijes-7163	96	19	micro	micro	PROPN
aijes-7163	96	20	eli	eli	PROPN
aijes-7163	96	21	wfc	wfc	PROPN
aijes-7163	96	22	total	total	PROPN
aijes-7163	96	23	r.p	r.p	PROPN
aijes-7163	96	24	.	.	PROPN
aijes-7163	97	1	with	with	ADP
aijes-7163	97	2	std	std	NOUN
aijes-7163	97	3	6.17	6.17	NUM
aijes-7163	97	4	%	%	NOUN
aijes-7163	97	5	5.17	5.17	NUM
aijes-7163	97	6	%	%	NOUN
aijes-7163	97	7	13.93	13.93	NUM
aijes-7163	97	8	%	%	NOUN
aijes-7163	97	9	5.27	5.27	NUM
aijes-7163	97	10	%	%	NOUN
aijes-7163	97	11	5.83	5.83	NUM
aijes-7163	97	12	%	%	NOUN
aijes-7163	97	13	12.19	12.19	NUM
aijes-7163	97	14	%	%	NOUN
aijes-7163	97	15	13.36	13.36	NUM
aijes-7163	97	16	%	%	NOUN
aijes-7163	97	17	11.39	11.39	NUM
aijes-7163	97	18	%	%	NOUN
aijes-7163	97	19	12.45	12.45	NUM
aijes-7163	97	20	%	%	NOUN
aijes-7163	97	21	14.24	14.24	NUM
aijes-7163	97	22	%	%	NOUN
aijes-7163	97	23	1	1	NUM
aijes-7163	97	24	minimum	minimum	NOUN
aijes-7163	97	25	variance	variance	NOUN
aijes-7163	97	26	0.00	0.00	NUM
aijes-7163	97	27	%	%	NOUN
aijes-7163	97	28	0.06	0.06	NUM
aijes-7163	97	29	%	%	NOUN
aijes-7163	97	30	14.35	14.35	NUM
aijes-7163	97	31	%	%	NOUN
aijes-7163	97	32	0.02	0.02	NUM
aijes-7163	97	33	%	%	NOUN
aijes-7163	97	34	0.07	0.07	NUM
aijes-7163	97	35	%	%	NOUN
aijes-7163	97	36	14.41	14.41	NUM
aijes-7163	97	37	%	%	NOUN
aijes-7163	97	38	31.43	31.43	NUM
aijes-7163	97	39	%	%	NOUN
aijes-7163	97	40	10.41	10.41	NUM
aijes-7163	97	41	%	%	NOUN
aijes-7163	97	42	15.48	15.48	NUM
aijes-7163	97	43	%	%	NOUN
aijes-7163	97	44	13.78	13.78	NUM
aijes-7163	97	45	%	%	NOUN
aijes-7163	97	46	1	1	NUM
aijes-7163	97	47	r.p	r.p	NOUN
aijes-7163	97	48	.	.	PROPN
aijes-7163	98	1	with	with	ADP
aijes-7163	98	2	cvar	cvar	NOUN
aijes-7163	98	3	7.62	7.62	NUM
aijes-7163	98	4	%	%	NOUN
aijes-7163	98	5	5.65	5.65	NUM
aijes-7163	98	6	%	%	NOUN
aijes-7163	98	7	12.04	12.04	NUM
aijes-7163	98	8	%	%	NOUN
aijes-7163	98	9	6.60	6.60	NUM
aijes-7163	98	10	%	%	NOUN
aijes-7163	98	11	4.92	4.92	NUM
aijes-7163	98	12	%	%	NOUN
aijes-7163	98	13	11.63	11.63	NUM
aijes-7163	98	14	%	%	NOUN
aijes-7163	98	15	16.18	16.18	NUM
aijes-7163	98	16	%	%	NOUN
aijes-7163	98	17	11.68	11.68	NUM
aijes-7163	98	18	%	%	NOUN
aijes-7163	98	19	10.69	10.69	NUM
aijes-7163	98	20	%	%	NOUN
aijes-7163	98	21	12.98	12.98	NUM
aijes-7163	98	22	%	%	NOUN
aijes-7163	98	23	1	1	NUM
aijes-7163	98	24	minimum	minimum	NOUN
aijes-7163	98	25	cvar	cvar	NOUN
aijes-7163	98	26	0.65	0.65	NUM
aijes-7163	98	27	%	%	NOUN
aijes-7163	98	28	4.44	4.44	NUM
aijes-7163	98	29	%	%	NOUN
aijes-7163	98	30	3.41	3.41	NUM
aijes-7163	98	31	%	%	NOUN
aijes-7163	98	32	0.00	0.00	NUM
aijes-7163	98	33	%	%	NOUN
aijes-7163	98	34	0.00	0.00	NUM
aijes-7163	98	35	%	%	NOUN
aijes-7163	98	36	15.25	15.25	NUM
aijes-7163	98	37	%	%	NOUN
aijes-7163	98	38	27.27	27.27	NUM
aijes-7163	98	39	%	%	NOUN
aijes-7163	98	40	9.06	9.06	NUM
aijes-7163	98	41	%	%	NOUN
aijes-7163	98	42	14.71	14.71	NUM
aijes-7163	98	43	%	%	NOUN
aijes-7163	98	44	25.20	25.20	NUM
aijes-7163	98	45	%	%	NOUN
aijes-7163	98	46	1	1	NUM
aijes-7163	98	47	naïve	naïve	ADJ
aijes-7163	98	48	10	10	NUM
aijes-7163	98	49	%	%	NOUN
aijes-7163	98	50	10	10	NUM
aijes-7163	98	51	%	%	NOUN
aijes-7163	98	52	10	10	NUM
aijes-7163	98	53	%	%	NOUN
aijes-7163	98	54	10	10	NUM
aijes-7163	98	55	%	%	NOUN
aijes-7163	98	56	10	10	NUM
aijes-7163	98	57	%	%	NOUN
aijes-7163	98	58	10	10	NUM
aijes-7163	98	59	%	%	NOUN
aijes-7163	98	60	10	10	NUM
aijes-7163	98	61	%	%	NOUN
aijes-7163	98	62	10	10	NUM
aijes-7163	98	63	%	%	NOUN
aijes-7163	98	64	10	10	NUM
aijes-7163	98	65	%	%	NOUN
aijes-7163	98	66	10	10	NUM
aijes-7163	98	67	%	%	NOUN
aijes-7163	98	68	1	1	NUM
aijes-7163	98	69	r.p	r.p	NOUN
aijes-7163	98	70	.	.	PROPN
aijes-7163	98	71	cvar	cvar	PROPN
aijes-7163	98	72	naïve	naïve	PROPN
aijes-7163	98	73	7.94	7.94	NUM
aijes-7163	98	74	%	%	NOUN
aijes-7163	98	75	4.19	4.19	NUM
aijes-7163	98	76	%	%	NOUN
aijes-7163	98	77	13.70	13.70	NUM
aijes-7163	98	78	%	%	NOUN
aijes-7163	98	79	4.29	4.29	NUM
aijes-7163	98	80	%	%	NOUN
aijes-7163	98	81	6.06	6.06	NUM
aijes-7163	98	82	%	%	NOUN
aijes-7163	98	83	13.29	13.29	NUM
aijes-7163	98	84	%	%	NOUN
aijes-7163	98	85	13.75	13.75	NUM
aijes-7163	98	86	%	%	NOUN
aijes-7163	98	87	10.49	10.49	NUM
aijes-7163	98	88	%	%	NOUN
aijes-7163	98	89	13.49	13.49	NUM
aijes-7163	98	90	%	%	NOUN
aijes-7163	98	91	12.81	12.81	NUM
aijes-7163	98	92	%	%	NOUN
aijes-7163	98	93	1	1	NUM
aijes-7163	98	94	table	table	NOUN
aijes-7163	98	95	2	2	NUM
aijes-7163	98	96	represents	represent	VERB
aijes-7163	98	97	the	the	DET
aijes-7163	98	98	portfolio	portfolio	NOUN
aijes-7163	98	99	weights	weight	VERB
aijes-7163	98	100	for	for	ADP
aijes-7163	98	101	10	10	NUM
aijes-7163	98	102	assets	asset	NOUN
aijes-7163	98	103	under	under	ADP
aijes-7163	98	104	different	different	ADJ
aijes-7163	98	105	optimization	optimization	NOUN
aijes-7163	98	106	models	model	NOUN
aijes-7163	98	107	.	.	PUNCT
aijes-7163	99	1	the	the	DET
aijes-7163	99	2	risk	risk	NOUN
aijes-7163	99	3	parity	parity	NOUN
aijes-7163	99	4	(	(	PUNCT
aijes-7163	99	5	r.p	r.p	PROPN
aijes-7163	99	6	.	.	PROPN
aijes-7163	99	7	with	with	ADP
aijes-7163	99	8	std	std	NOUN
aijes-7163	99	9	)	)	PUNCT
aijes-7163	99	10	with	with	ADP
aijes-7163	99	11	standard	standard	ADJ
aijes-7163	99	12	deviation	deviation	NOUN
aijes-7163	99	13	,	,	PUNCT
aijes-7163	99	14	which	which	PRON
aijes-7163	99	15	aims	aim	VERB
aijes-7163	99	16	to	to	PART
aijes-7163	99	17	balance	balance	VERB
aijes-7163	99	18	risk	risk	NOUN
aijes-7163	99	19	contribution	contribution	NOUN
aijes-7163	99	20	across	across	ADP
aijes-7163	99	21	assets	asset	NOUN
aijes-7163	99	22	using	use	VERB
aijes-7163	99	23	standard	standard	ADJ
aijes-7163	99	24	deviation	deviation	NOUN
aijes-7163	99	25	as	as	ADP
aijes-7163	99	26	the	the	DET
aijes-7163	99	27	risk	risk	NOUN
aijes-7163	99	28	metric	metric	NOUN
aijes-7163	99	29	,	,	PUNCT
aijes-7163	99	30	is	be	AUX
aijes-7163	99	31	heavily	heavily	ADV
aijes-7163	99	32	weighted	weight	VERB
aijes-7163	99	33	on	on	ADP
aijes-7163	99	34	jpm	jpm	PROPN
aijes-7163	99	35	(	(	PUNCT
aijes-7163	99	36	13.93	13.93	NUM
aijes-7163	99	37	%	%	NOUN
aijes-7163	99	38	)	)	PUNCT
aijes-7163	99	39	,	,	PUNCT
aijes-7163	99	40	apple	apple	NOUN
aijes-7163	99	41	(	(	PUNCT
aijes-7163	99	42	13.36	13.36	NUM
aijes-7163	99	43	%	%	NOUN
aijes-7163	99	44	)	)	PUNCT
aijes-7163	99	45	,	,	PUNCT
aijes-7163	99	46	and	and	CCONJ
aijes-7163	99	47	eli	eli	PROPN
aijes-7163	99	48	(	(	PUNCT
aijes-7163	99	49	12.45	12.45	NUM
aijes-7163	99	50	%	%	NOUN
aijes-7163	99	51	)	)	PUNCT
aijes-7163	99	52	.	.	PUNCT
aijes-7163	100	1	minimum	minimum	ADJ
aijes-7163	100	2	variance	variance	NOUN
aijes-7163	100	3	focuses	focus	VERB
aijes-7163	100	4	heavily	heavily	ADV
aijes-7163	100	5	on	on	ADP
aijes-7163	100	6	apple	apple	NOUN
aijes-7163	100	7	(	(	PUNCT
aijes-7163	100	8	31.43	31.43	NUM
aijes-7163	100	9	%	%	NOUN
aijes-7163	100	10	)	)	PUNCT
aijes-7163	100	11	and	and	CCONJ
aijes-7163	100	12	jpm	jpm	PROPN
aijes-7163	100	13	(	(	PUNCT
aijes-7163	100	14	14.35	14.35	NUM
aijes-7163	100	15	%	%	NOUN
aijes-7163	100	16	)	)	PUNCT
aijes-7163	100	17	,	,	PUNCT
aijes-7163	100	18	with	with	ADP
aijes-7163	100	19	near	near	ADV
aijes-7163	100	20	-	-	PUNCT
aijes-7163	100	21	zero	zero	NUM
aijes-7163	100	22	weights	weight	NOUN
aijes-7163	100	23	for	for	ADP
aijes-7163	100	24	meta	meta	NOUN
aijes-7163	100	25	and	and	CCONJ
aijes-7163	100	26	others	other	NOUN
aijes-7163	100	27	.	.	PUNCT
aijes-7163	101	1	risk	risk	NOUN
aijes-7163	101	2	parity	parity	NOUN
aijes-7163	101	3	with	with	ADP
aijes-7163	101	4	cvar	cvar	NOUN
aijes-7163	101	5	(	(	PUNCT
aijes-7163	101	6	conditional	conditional	ADJ
aijes-7163	101	7	value	value	NOUN
aijes-7163	101	8	-	-	PUNCT
aijes-7163	101	9	at	at	ADP
aijes-7163	101	10	-	-	PUNCT
aijes-7163	101	11	risk	risk	NOUN
aijes-7163	101	12	)	)	PUNCT
aijes-7163	101	13	is	be	AUX
aijes-7163	101	14	similar	similar	ADJ
aijes-7163	101	15	to	to	ADP
aijes-7163	101	16	r.p	r.p	PROPN
aijes-7163	101	17	.	.	PUNCT
aijes-7163	102	1	but	but	CCONJ
aijes-7163	102	2	uses	use	VERB
aijes-7163	102	3	cvar	cvar	PROPN
aijes-7163	102	4	to	to	PART
aijes-7163	102	5	account	account	VERB
aijes-7163	102	6	for	for	ADP
aijes-7163	102	7	tail	tail	NOUN
aijes-7163	102	8	risk	risk	NOUN
aijes-7163	102	9	.	.	PUNCT
aijes-7163	103	1	jpm	jpm	PROPN
aijes-7163	103	2	(	(	PUNCT
aijes-7163	103	3	12.04	12.04	NUM
aijes-7163	103	4	%	%	NOUN
aijes-7163	103	5	)	)	PUNCT
aijes-7163	103	6	and	and	CCONJ
aijes-7163	103	7	visa	visa	NOUN
aijes-7163	103	8	(	(	PUNCT
aijes-7163	103	9	16.18	16.18	NUM
aijes-7163	103	10	%	%	NOUN
aijes-7163	103	11	)	)	PUNCT
aijes-7163	103	12	have	have	VERB
aijes-7163	103	13	higher	high	ADJ
aijes-7163	103	14	weights	weight	NOUN
aijes-7163	103	15	,	,	PUNCT
aijes-7163	103	16	reflecting	reflect	VERB
aijes-7163	103	17	their	their	PRON
aijes-7163	103	18	perceived	perceive	VERB
aijes-7163	103	19	stability	stability	NOUN
aijes-7163	103	20	under	under	ADP
aijes-7163	103	21	extreme	extreme	ADJ
aijes-7163	103	22	conditions	condition	NOUN
aijes-7163	103	23	.	.	PUNCT
aijes-7163	104	1	minimum	minimum	ADJ
aijes-7163	104	2	cvar	cvar	PROPN
aijes-7163	104	3	minimizes	minimize	VERB
aijes-7163	104	4	portfolio	portfolio	NOUN
aijes-7163	104	5	tail	tail	NOUN
aijes-7163	104	6	risk	risk	NOUN
aijes-7163	104	7	.	.	PUNCT
aijes-7163	105	1	visa	visa	NOUN
aijes-7163	105	2	(	(	PUNCT
aijes-7163	105	3	27.27	27.27	NUM
aijes-7163	105	4	%	%	NOUN
aijes-7163	105	5	)	)	PUNCT
aijes-7163	105	6	and	and	CCONJ
aijes-7163	105	7	wfc	wfc	PROPN
aijes-7163	105	8	(	(	PUNCT
aijes-7163	105	9	25.20	25.20	NUM
aijes-7163	105	10	%	%	NOUN
aijes-7163	105	11	)	)	PUNCT
aijes-7163	105	12	dominate	dominate	VERB
aijes-7163	105	13	the	the	DET
aijes-7163	105	14	allocation	allocation	NOUN
aijes-7163	105	15	,	,	PUNCT
aijes-7163	105	16	likely	likely	ADV
aijes-7163	105	17	reflecting	reflect	VERB
aijes-7163	105	18	their	their	PRON
aijes-7163	105	19	low	low	ADJ
aijes-7163	105	20	downside	downside	ADJ
aijes-7163	105	21	risk	risk	NOUN
aijes-7163	105	22	.	.	PUNCT
aijes-7163	106	1	naïve	naïve	ADJ
aijes-7163	106	2	(	(	PUNCT
aijes-7163	106	3	equal	equal	ADJ
aijes-7163	106	4	allocation	allocation	NOUN
aijes-7163	106	5	)	)	PUNCT
aijes-7163	106	6	assigns	assign	VERB
aijes-7163	106	7	an	an	DET
aijes-7163	106	8	equal	equal	ADJ
aijes-7163	106	9	10	10	NUM
aijes-7163	106	10	%	%	NOUN
aijes-7163	106	11	weight	weight	NOUN
aijes-7163	106	12	to	to	ADP
aijes-7163	106	13	all	all	DET
aijes-7163	106	14	assets	asset	NOUN
aijes-7163	106	15	,	,	PUNCT
aijes-7163	106	16	disregarding	disregard	VERB
aijes-7163	106	17	risk	risk	NOUN
aijes-7163	106	18	or	or	CCONJ
aijes-7163	106	19	return	return	VERB
aijes-7163	106	20	considerations	consideration	NOUN
aijes-7163	106	21	.	.	PUNCT
aijes-7163	107	1	r.p	r.p	NOUN
aijes-7163	107	2	.	.	PROPN
aijes-7163	107	3	cvar	cvar	PROPN
aijes-7163	107	4	naïve	naïve	PROPN
aijes-7163	107	5	is	be	AUX
aijes-7163	107	6	a	a	DET
aijes-7163	107	7	special	special	ADJ
aijes-7163	107	8	case	case	NOUN
aijes-7163	107	9	in	in	ADP
aijes-7163	107	10	which	which	PRON
aijes-7163	107	11	has	have	VERB
aijes-7163	107	12	the	the	DET
aijes-7163	107	13	worst	bad	ADJ
aijes-7163	107	14	-	-	PUNCT
aijes-7163	107	15	case	case	NOUN
aijes-7163	107	16	scenario	scenario	NOUN
aijes-7163	107	17	(	(	PUNCT
aijes-7163	107	18	highest	high	ADJ
aijes-7163	107	19	cvar	cvar	NOUN
aijes-7163	107	20	,	,	PUNCT
aijes-7163	107	21	useful	useful	ADJ
aijes-7163	107	22	as	as	ADP
aijes-7163	107	23	an	an	DET
aijes-7163	107	24	upper	upper	ADJ
aijes-7163	107	25	bound	bound	NOUN
aijes-7163	107	26	(	(	PUNCT
aijes-7163	107	27	colucci	colucci	PROPN
aijes-7163	107	28	,	,	PUNCT
aijes-7163	107	29	2013	2013	NUM
aijes-7163	107	30	)	)	PUNCT
aijes-7163	107	31	.	.	PUNCT
aijes-7163	108	1	jpm	jpm	PROPN
aijes-7163	108	2	(	(	PUNCT
aijes-7163	108	3	13.7	13.7	NUM
aijes-7163	108	4	%	%	NOUN
aijes-7163	108	5	)	)	PUNCT
aijes-7163	108	6	and	and	CCONJ
aijes-7163	108	7	visa	visa	NOUN
aijes-7163	108	8	(	(	PUNCT
aijes-7163	108	9	13.75	13.75	NUM
aijes-7163	108	10	%	%	NOUN
aijes-7163	108	11	)	)	PUNCT
aijes-7163	108	12	maintain	maintain	VERB
aijes-7163	108	13	higher	high	ADJ
aijes-7163	108	14	weights	weight	NOUN
aijes-7163	108	15	but	but	CCONJ
aijes-7163	108	16	are	be	AUX
aijes-7163	108	17	more	more	ADV
aijes-7163	108	18	evenly	evenly	ADV
aijes-7163	108	19	distributed	distribute	VERB
aijes-7163	108	20	compared	compare	VERB
aijes-7163	108	21	to	to	ADP
aijes-7163	108	22	other	other	ADJ
aijes-7163	108	23	r.p	r.p	PROPN
aijes-7163	108	24	.	.	PROPN
aijes-7163	108	25	models	model	NOUN
aijes-7163	108	26	.	.	PUNCT
aijes-7163	109	1	denis	denis	PROPN
aijes-7163	109	2	veliu	veliu	PROPN
aijes-7163	109	3	335	335	NUM
aijes-7163	109	4	naïve	naïve	ADJ
aijes-7163	109	5	allocation	allocation	NOUN
aijes-7163	109	6	provides	provide	VERB
aijes-7163	109	7	the	the	DET
aijes-7163	109	8	most	most	ADV
aijes-7163	109	9	diversified	diversified	ADJ
aijes-7163	109	10	portfolio	portfolio	NOUN
aijes-7163	109	11	,	,	PUNCT
aijes-7163	109	12	while	while	SCONJ
aijes-7163	109	13	others	other	NOUN
aijes-7163	109	14	heavily	heavily	ADV
aijes-7163	109	15	concentrate	concentrate	VERB
aijes-7163	109	16	on	on	ADP
aijes-7163	109	17	specific	specific	ADJ
aijes-7163	109	18	assets	asset	NOUN
aijes-7163	109	19	.	.	PUNCT
aijes-7163	110	1	minimum	minimum	ADJ
aijes-7163	110	2	variance	variance	NOUN
aijes-7163	110	3	and	and	CCONJ
aijes-7163	110	4	minimum	minimum	NOUN
aijes-7163	110	5	cvar	cvar	NOUN
aijes-7163	110	6	models	model	NOUN
aijes-7163	110	7	allocate	allocate	VERB
aijes-7163	110	8	significant	significant	ADJ
aijes-7163	110	9	weights	weight	NOUN
aijes-7163	110	10	to	to	ADP
aijes-7163	110	11	assets	asset	NOUN
aijes-7163	110	12	with	with	ADP
aijes-7163	110	13	perceived	perceive	VERB
aijes-7163	110	14	lower	low	ADJ
aijes-7163	110	15	risk	risk	NOUN
aijes-7163	110	16	.	.	PUNCT
aijes-7163	111	1	the	the	DET
aijes-7163	111	2	jpm	jpm	PROPN
aijes-7163	111	3	&	&	CCONJ
aijes-7163	111	4	visa	visa	PROPN
aijes-7163	111	5	dominance	dominance	NOUN
aijes-7163	111	6	consistently	consistently	ADV
aijes-7163	111	7	receives	receive	VERB
aijes-7163	111	8	higher	high	ADJ
aijes-7163	111	9	weights	weight	NOUN
aijes-7163	111	10	in	in	ADP
aijes-7163	111	11	most	most	ADJ
aijes-7163	111	12	models	model	NOUN
aijes-7163	111	13	,	,	PUNCT
aijes-7163	111	14	indicating	indicate	VERB
aijes-7163	111	15	their	their	PRON
aijes-7163	111	16	importance	importance	NOUN
aijes-7163	111	17	in	in	ADP
aijes-7163	111	18	minimizing	minimize	VERB
aijes-7163	111	19	risk	risk	NOUN
aijes-7163	111	20	or	or	CCONJ
aijes-7163	111	21	balancing	balancing	NOUN
aijes-7163	111	22	contributions	contribution	NOUN
aijes-7163	111	23	.	.	PUNCT
aijes-7163	112	1	tesla	tesla	PROPN
aijes-7163	112	2	and	and	CCONJ
aijes-7163	112	3	avgo	avgo	PROPN
aijes-7163	112	4	tend	tend	VERB
aijes-7163	112	5	to	to	PART
aijes-7163	112	6	receive	receive	VERB
aijes-7163	112	7	lower	low	ADJ
aijes-7163	112	8	weights	weight	NOUN
aijes-7163	112	9	,	,	PUNCT
aijes-7163	112	10	likely	likely	ADJ
aijes-7163	112	11	due	due	ADP
aijes-7163	112	12	to	to	ADP
aijes-7163	112	13	higher	high	ADJ
aijes-7163	112	14	volatility	volatility	NOUN
aijes-7163	112	15	or	or	CCONJ
aijes-7163	112	16	correlation	correlation	NOUN
aijes-7163	112	17	with	with	ADP
aijes-7163	112	18	other	other	ADJ
aijes-7163	112	19	assets	asset	NOUN
aijes-7163	112	20	.	.	PUNCT
aijes-7163	113	1	in	in	ADP
aijes-7163	113	2	order	order	NOUN
aijes-7163	113	3	to	to	PART
aijes-7163	113	4	keep	keep	VERB
aijes-7163	113	5	the	the	DET
aijes-7163	113	6	portfolio	portfolio	NOUN
aijes-7163	113	7	updated	update	VERB
aijes-7163	113	8	,	,	PUNCT
aijes-7163	113	9	the	the	DET
aijes-7163	113	10	calculation	calculation	NOUN
aijes-7163	113	11	is	be	AUX
aijes-7163	113	12	made	make	VERB
aijes-7163	113	13	each	each	DET
aijes-7163	113	14	week	week	NOUN
aijes-7163	113	15	,	,	PUNCT
aijes-7163	113	16	based	base	VERB
aijes-7163	113	17	on	on	ADP
aijes-7163	113	18	the	the	DET
aijes-7163	113	19	past	past	ADJ
aijes-7163	113	20	25	25	NUM
aijes-7163	113	21	weeks	week	NOUN
aijes-7163	113	22	,	,	PUNCT
aijes-7163	113	23	the	the	DET
aijes-7163	113	24	asset	asset	NOUN
aijes-7163	113	25	allocation	allocation	NOUN
aijes-7163	113	26	.	.	PUNCT
aijes-7163	114	1	the	the	DET
aijes-7163	114	2	rolling	rolling	ADJ
aijes-7163	114	3	window	window	NOUN
aijes-7163	114	4	is	be	AUX
aijes-7163	114	5	made	make	VERB
aijes-7163	114	6	with	with	ADP
aijes-7163	114	7	l=125	l=125	NOUN
aijes-7163	114	8	days	day	NOUN
aijes-7163	114	9	(	(	PUNCT
aijes-7163	114	10	6	6	NUM
aijes-7163	114	11	months	month	NOUN
aijes-7163	114	12	)	)	PUNCT
aijes-7163	114	13	and	and	CCONJ
aijes-7163	114	14	h=5	h=5	PROPN
aijes-7163	114	15	days	day	NOUN
aijes-7163	114	16	,	,	PUNCT
aijes-7163	114	17	where	where	SCONJ
aijes-7163	114	18	l	l	NOUN
aijes-7163	114	19	are	be	AUX
aijes-7163	114	20	the	the	DET
aijes-7163	114	21	daily	daily	ADJ
aijes-7163	114	22	observations	observation	NOUN
aijes-7163	114	23	used	use	VERB
aijes-7163	114	24	to	to	PART
aijes-7163	114	25	estimate	estimate	VERB
aijes-7163	114	26	the	the	DET
aijes-7163	114	27	weights	weight	NOUN
aijes-7163	114	28	and	and	CCONJ
aijes-7163	114	29	h	h	NOUN
aijes-7163	114	30	is	be	AUX
aijes-7163	114	31	the	the	DET
aijes-7163	114	32	holding	hold	VERB
aijes-7163	114	33	period	period	NOUN
aijes-7163	114	34	for	for	ADP
aijes-7163	114	35	the	the	DET
aijes-7163	114	36	performance	performance	NOUN
aijes-7163	114	37	of	of	ADP
aijes-7163	114	38	the	the	DET
aijes-7163	114	39	portfolio	portfolio	NOUN
aijes-7163	114	40	using	use	VERB
aijes-7163	114	41	the	the	DET
aijes-7163	114	42	compound	compound	NOUN
aijes-7163	114	43	return	return	NOUN
aijes-7163	114	44	.	.	PUNCT
aijes-7163	115	1	the	the	DET
aijes-7163	115	2	performance	performance	NOUN
aijes-7163	115	3	is	be	AUX
aijes-7163	115	4	given	give	VERB
aijes-7163	115	5	by	by	ADP
aijes-7163	115	6	the	the	DET
aijes-7163	115	7	following	follow	VERB
aijes-7163	115	8	graph	graph	NOUN
aijes-7163	115	9	1	1	NUM
aijes-7163	115	10	.	.	PUNCT
aijes-7163	116	1	graph	graph	NOUN
aijes-7163	116	2	1	1	NUM
aijes-7163	116	3	.	.	PUNCT
aijes-7163	117	1	the	the	DET
aijes-7163	117	2	performance	performance	NOUN
aijes-7163	117	3	of	of	ADP
aijes-7163	117	4	the	the	DET
aijes-7163	117	5	portfolios	portfolio	NOUN
aijes-7163	117	6	in	in	ADP
aijes-7163	117	7	etf	etf	NOUN
aijes-7163	117	8	fund	fund	NOUN
aijes-7163	117	9	using	use	VERB
aijes-7163	117	10	the	the	DET
aijes-7163	117	11	compound	compound	NOUN
aijes-7163	117	12	return	return	NOUN
aijes-7163	117	13	.	.	PUNCT
aijes-7163	118	1	source	source	NOUN
aijes-7163	118	2	:	:	PUNCT
aijes-7163	118	3	computed	compute	VERB
aijes-7163	118	4	with	with	ADP
aijes-7163	118	5	matlab	matlab	PROPN
aijes-7163	118	6	graph	graph	NOUN
aijes-7163	118	7	2	2	NUM
aijes-7163	118	8	.	.	PUNCT
aijes-7163	119	1	the	the	DET
aijes-7163	119	2	performance	performance	NOUN
aijes-7163	119	3	of	of	ADP
aijes-7163	119	4	ea	ea	NOUN
aijes-7163	119	5	bridgeway	bridgeway	ADJ
aijes-7163	119	6	blue	blue	ADJ
aijes-7163	119	7	chip	chip	NOUN
aijes-7163	119	8	etf	etf	NOUN
aijes-7163	119	9	(	(	PUNCT
aijes-7163	119	10	bblu	bblu	NOUN
aijes-7163	119	11	)	)	PUNCT
aijes-7163	119	12	source	source	NOUN
aijes-7163	119	13	:	:	PUNCT
aijes-7163	119	14	nasdaq.com	nasdaq.com	X
aijes-7163	119	15	exchange	exchange	NOUN
aijes-7163	119	16	-	-	PUNCT
aijes-7163	119	17	traded	trade	VERB
aijes-7163	119	18	funds	fund	NOUN
aijes-7163	119	19	(	(	PUNCT
aijes-7163	119	20	etfs	etfs	NOUN
aijes-7163	119	21	)	)	PUNCT
aijes-7163	119	22	optimization	optimization	NOUN
aijes-7163	119	23	with	with	ADP
aijes-7163	119	24	risk	risk	NOUN
aijes-7163	119	25	parity	parity	NOUN
aijes-7163	119	26	strategies	strategy	NOUN
aijes-7163	119	27	336	336	NUM
aijes-7163	119	28	graph	graph	NOUN
aijes-7163	119	29	1	1	NUM
aijes-7163	119	30	aims	aim	VERB
aijes-7163	119	31	to	to	PART
aijes-7163	119	32	evaluate	evaluate	VERB
aijes-7163	119	33	how	how	SCONJ
aijes-7163	119	34	different	different	ADJ
aijes-7163	119	35	portfolio	portfolio	NOUN
aijes-7163	119	36	optimization	optimization	NOUN
aijes-7163	119	37	strategies	strategy	NOUN
aijes-7163	119	38	perform	perform	VERB
aijes-7163	119	39	over	over	ADP
aijes-7163	119	40	a	a	DET
aijes-7163	119	41	rolling	rolling	ADJ
aijes-7163	119	42	half	half	ADJ
aijes-7163	119	43	-	-	PUNCT
aijes-7163	119	44	year	year	NOUN
aijes-7163	119	45	period	period	NOUN
aijes-7163	119	46	,	,	PUNCT
aijes-7163	119	47	with	with	ADP
aijes-7163	119	48	a	a	DET
aijes-7163	119	49	five	five	NUM
aijes-7163	119	50	-	-	PUNCT
aijes-7163	119	51	day	day	NOUN
aijes-7163	119	52	investment	investment	NOUN
aijes-7163	119	53	horizon	horizon	NOUN
aijes-7163	119	54	,	,	PUNCT
aijes-7163	119	55	highlighting	highlight	VERB
aijes-7163	119	56	the	the	DET
aijes-7163	119	57	trade	trade	NOUN
aijes-7163	119	58	-	-	PUNCT
aijes-7163	119	59	offs	off	NOUN
aijes-7163	119	60	between	between	ADP
aijes-7163	119	61	return	return	NOUN
aijes-7163	119	62	and	and	CCONJ
aijes-7163	119	63	risk	risk	NOUN
aijes-7163	119	64	for	for	ADP
aijes-7163	119	65	each	each	DET
aijes-7163	119	66	strategy	strategy	NOUN
aijes-7163	119	67	.	.	PUNCT
aijes-7163	120	1	graph	graph	NOUN
aijes-7163	120	2	1	1	NUM
aijes-7163	120	3	presents	present	NOUN
aijes-7163	120	4	a	a	DET
aijes-7163	120	5	detailed	detailed	ADJ
aijes-7163	120	6	comparison	comparison	NOUN
aijes-7163	120	7	of	of	ADP
aijes-7163	120	8	the	the	DET
aijes-7163	120	9	performance	performance	NOUN
aijes-7163	120	10	of	of	ADP
aijes-7163	120	11	different	different	ADJ
aijes-7163	120	12	portfolio	portfolio	NOUN
aijes-7163	120	13	optimization	optimization	NOUN
aijes-7163	120	14	strategies	strategy	NOUN
aijes-7163	120	15	over	over	ADP
aijes-7163	120	16	time	time	NOUN
aijes-7163	120	17	.	.	PUNCT
aijes-7163	121	1	most	most	ADJ
aijes-7163	121	2	strategies	strategy	NOUN
aijes-7163	121	3	show	show	VERB
aijes-7163	121	4	similar	similar	ADJ
aijes-7163	121	5	patterns	pattern	NOUN
aijes-7163	121	6	with	with	ADP
aijes-7163	121	7	noticeable	noticeable	ADJ
aijes-7163	121	8	ups	up	NOUN
aijes-7163	121	9	and	and	CCONJ
aijes-7163	121	10	downs	down	NOUN
aijes-7163	121	11	,	,	PUNCT
aijes-7163	121	12	reflecting	reflect	VERB
aijes-7163	121	13	market	market	NOUN
aijes-7163	121	14	dynamics	dynamic	NOUN
aijes-7163	121	15	,	,	PUNCT
aijes-7163	121	16	for	for	ADP
aijes-7163	121	17	which	which	PRON
aijes-7163	121	18	are	be	AUX
aijes-7163	121	19	represented	represent	VERB
aijes-7163	121	20	using	use	VERB
aijes-7163	121	21	the	the	DET
aijes-7163	121	22	graph	graph	NOUN
aijes-7163	121	23	2	2	NUM
aijes-7163	121	24	.	.	PUNCT
aijes-7163	122	1	by	by	ADP
aijes-7163	122	2	the	the	DET
aijes-7163	122	3	end	end	NOUN
aijes-7163	122	4	of	of	ADP
aijes-7163	122	5	the	the	DET
aijes-7163	122	6	time	time	NOUN
aijes-7163	122	7	period	period	NOUN
aijes-7163	122	8	,	,	PUNCT
aijes-7163	122	9	some	some	DET
aijes-7163	122	10	strategies	strategy	NOUN
aijes-7163	122	11	(	(	PUNCT
aijes-7163	122	12	e.g.	e.g.	ADV
aijes-7163	122	13	,	,	PUNCT
aijes-7163	122	14	"	"	PUNCT
aijes-7163	122	15	risk	risk	NOUN
aijes-7163	122	16	parity	parity	NOUN
aijes-7163	122	17	cvar	cvar	NOUN
aijes-7163	122	18	"	"	PUNCT
aijes-7163	122	19	and	and	CCONJ
aijes-7163	122	20	"	"	PUNCT
aijes-7163	122	21	m	m	NOUN
aijes-7163	122	22	-	-	PUNCT
aijes-7163	122	23	v	v	NOUN
aijes-7163	122	24	"	"	PUNCT
aijes-7163	122	25	)	)	PUNCT
aijes-7163	122	26	outperform	outperform	VERB
aijes-7163	122	27	others	other	NOUN
aijes-7163	122	28	,	,	PUNCT
aijes-7163	122	29	reaching	reach	VERB
aijes-7163	122	30	higher	high	ADJ
aijes-7163	122	31	compound	compound	NOUN
aijes-7163	122	32	returns	return	NOUN
aijes-7163	122	33	.	.	PUNCT
aijes-7163	123	1	the	the	DET
aijes-7163	123	2	"	"	PUNCT
aijes-7163	123	3	uniform	uniform	ADJ
aijes-7163	123	4	"	"	PUNCT
aijes-7163	123	5	strategy	strategy	NOUN
aijes-7163	123	6	(	(	PUNCT
aijes-7163	123	7	black	black	NOUN
aijes-7163	123	8	)	)	PUNCT
aijes-7163	123	9	generally	generally	ADV
aijes-7163	123	10	underperforms	underperform	VERB
aijes-7163	123	11	compared	compare	VERB
aijes-7163	123	12	to	to	ADP
aijes-7163	123	13	other	other	ADJ
aijes-7163	123	14	approaches	approach	NOUN
aijes-7163	123	15	.	.	PUNCT
aijes-7163	124	1	the	the	DET
aijes-7163	124	2	first	first	ADJ
aijes-7163	124	3	graph	graph	NOUN
aijes-7163	124	4	uses	use	VERB
aijes-7163	124	5	compound	compound	NOUN
aijes-7163	124	6	returns	return	NOUN
aijes-7163	124	7	as	as	SCONJ
aijes-7163	124	8	the	the	DET
aijes-7163	124	9	performance	performance	NOUN
aijes-7163	124	10	metric	metric	ADJ
aijes-7163	124	11	,	,	PUNCT
aijes-7163	124	12	whereas	whereas	SCONJ
aijes-7163	124	13	the	the	DET
aijes-7163	124	14	second	second	ADJ
aijes-7163	124	15	graph	graph	NOUN
aijes-7163	124	16	uses	use	VERB
aijes-7163	124	17	the	the	DET
aijes-7163	124	18	etf	etf	NOUN
aijes-7163	124	19	price	price	NOUN
aijes-7163	124	20	.	.	PUNCT
aijes-7163	125	1	graph	graph	NOUN
aijes-7163	125	2	3	3	NUM
aijes-7163	125	3	.	.	PUNCT
aijes-7163	126	1	the	the	DET
aijes-7163	126	2	riskiness	riskiness	NOUN
aijes-7163	126	3	of	of	ADP
aijes-7163	126	4	the	the	DET
aijes-7163	126	5	portfolios	portfolio	NOUN
aijes-7163	126	6	measured	measure	VERB
aijes-7163	126	7	by	by	ADP
aijes-7163	126	8	the	the	DET
aijes-7163	126	9	standard	standard	ADJ
aijes-7163	126	10	deviation	deviation	NOUN
aijes-7163	126	11	(	(	PUNCT
aijes-7163	126	12	volatility	volatility	NOUN
aijes-7163	126	13	)	)	PUNCT
aijes-7163	126	14	source	source	NOUN
aijes-7163	126	15	:	:	PUNCT
aijes-7163	126	16	computed	compute	VERB
aijes-7163	126	17	with	with	ADP
aijes-7163	126	18	matlab	matlab	PROPN
aijes-7163	126	19	graph	graph	NOUN
aijes-7163	126	20	4	4	NUM
aijes-7163	126	21	.	.	PUNCT
aijes-7163	127	1	the	the	DET
aijes-7163	127	2	riskiness	riskiness	NOUN
aijes-7163	127	3	of	of	ADP
aijes-7163	127	4	the	the	DET
aijes-7163	127	5	portfolios	portfolio	NOUN
aijes-7163	127	6	measured	measure	VERB
aijes-7163	127	7	by	by	ADP
aijes-7163	127	8	the	the	DET
aijes-7163	127	9	cvar	cvar	PROPN
aijes-7163	127	10	source	source	NOUN
aijes-7163	127	11	:	:	PUNCT
aijes-7163	127	12	computed	compute	VERB
aijes-7163	127	13	with	with	ADP
aijes-7163	127	14	matlab	matlab	PROPN
aijes-7163	127	15	denis	denis	PROPN
aijes-7163	127	16	veliu	veliu	VERB
aijes-7163	127	17	337	337	NUM
aijes-7163	127	18	the	the	DET
aijes-7163	127	19	cvar	cvar	NOUN
aijes-7163	127	20	graph	graph	NOUN
aijes-7163	127	21	focuses	focus	VERB
aijes-7163	127	22	on	on	ADP
aijes-7163	127	23	extreme	extreme	ADJ
aijes-7163	127	24	downside	downside	ADJ
aijes-7163	127	25	risks	risk	NOUN
aijes-7163	127	26	,	,	PUNCT
aijes-7163	127	27	while	while	SCONJ
aijes-7163	127	28	the	the	DET
aijes-7163	127	29	volatility	volatility	NOUN
aijes-7163	127	30	graph	graph	NOUN
aijes-7163	127	31	examines	examine	VERB
aijes-7163	127	32	total	total	ADJ
aijes-7163	127	33	risk	risk	NOUN
aijes-7163	127	34	.	.	PUNCT
aijes-7163	128	1	if	if	SCONJ
aijes-7163	128	2	a	a	DET
aijes-7163	128	3	strategy	strategy	NOUN
aijes-7163	128	4	shows	show	VERB
aijes-7163	128	5	lower	low	ADJ
aijes-7163	128	6	volatility	volatility	NOUN
aijes-7163	128	7	(	(	PUNCT
aijes-7163	128	8	graph	graph	NOUN
aijes-7163	128	9	3	3	NUM
aijes-7163	128	10	)	)	PUNCT
aijes-7163	128	11	,	,	PUNCT
aijes-7163	128	12	it	it	PRON
aijes-7163	128	13	may	may	AUX
aijes-7163	128	14	also	also	ADV
aijes-7163	128	15	show	show	VERB
aijes-7163	128	16	lower	low	ADJ
aijes-7163	128	17	cvar	cvar	NOUN
aijes-7163	128	18	(	(	PUNCT
aijes-7163	128	19	graph	graph	NOUN
aijes-7163	128	20	4	4	NUM
aijes-7163	128	21	)	)	PUNCT
aijes-7163	128	22	,	,	PUNCT
aijes-7163	128	23	but	but	CCONJ
aijes-7163	128	24	this	this	PRON
aijes-7163	128	25	is	be	AUX
aijes-7163	128	26	not	not	PART
aijes-7163	128	27	always	always	ADV
aijes-7163	128	28	guaranteed	guarantee	VERB
aijes-7163	128	29	.	.	PUNCT
aijes-7163	129	1	for	for	ADP
aijes-7163	129	2	instance	instance	NOUN
aijes-7163	129	3	,	,	PUNCT
aijes-7163	129	4	strategies	strategy	NOUN
aijes-7163	129	5	designed	design	VERB
aijes-7163	129	6	to	to	PART
aijes-7163	129	7	reduce	reduce	VERB
aijes-7163	129	8	overall	overall	ADJ
aijes-7163	129	9	risk	risk	NOUN
aijes-7163	129	10	(	(	PUNCT
aijes-7163	129	11	e.g.	e.g.	ADV
aijes-7163	129	12	,	,	PUNCT
aijes-7163	129	13	risk	risk	NOUN
aijes-7163	129	14	parity	parity	NOUN
aijes-7163	129	15	)	)	PUNCT
aijes-7163	129	16	might	might	AUX
aijes-7163	129	17	perform	perform	VERB
aijes-7163	129	18	differently	differently	ADV
aijes-7163	129	19	in	in	ADP
aijes-7163	129	20	tail	tail	NOUN
aijes-7163	129	21	-	-	PUNCT
aijes-7163	129	22	risk	risk	NOUN
aijes-7163	129	23	scenarios	scenario	NOUN
aijes-7163	129	24	.	.	PUNCT
aijes-7163	130	1	the	the	DET
aijes-7163	130	2	cvar	cvar	NOUN
aijes-7163	130	3	values	value	NOUN
aijes-7163	130	4	are	be	AUX
aijes-7163	130	5	higher	high	ADJ
aijes-7163	130	6	than	than	ADP
aijes-7163	130	7	volatility	volatility	NOUN
aijes-7163	130	8	values	value	NOUN
aijes-7163	130	9	,	,	PUNCT
aijes-7163	130	10	consistent	consistent	ADJ
aijes-7163	130	11	with	with	ADP
aijes-7163	130	12	cvar	cvar	NOUN
aijes-7163	130	13	capturing	capture	VERB
aijes-7163	130	14	extreme	extreme	ADJ
aijes-7163	130	15	losses	loss	NOUN
aijes-7163	130	16	beyond	beyond	ADP
aijes-7163	130	17	a	a	DET
aijes-7163	130	18	certain	certain	ADJ
aijes-7163	130	19	threshold	threshold	NOUN
aijes-7163	130	20	,	,	PUNCT
aijes-7163	130	21	whereas	whereas	SCONJ
aijes-7163	130	22	volatility	volatility	NOUN
aijes-7163	130	23	reflects	reflect	VERB
aijes-7163	130	24	average	average	ADJ
aijes-7163	130	25	dispersion	dispersion	NOUN
aijes-7163	130	26	.	.	PUNCT
aijes-7163	131	1	comparing	compare	VERB
aijes-7163	131	2	the	the	DET
aijes-7163	131	3	two	two	NUM
aijes-7163	131	4	graphs	graph	NOUN
aijes-7163	131	5	can	can	AUX
aijes-7163	131	6	reveal	reveal	VERB
aijes-7163	131	7	how	how	SCONJ
aijes-7163	131	8	a	a	DET
aijes-7163	131	9	strategy	strategy	NOUN
aijes-7163	131	10	balances	balance	VERB
aijes-7163	131	11	overall	overall	ADJ
aijes-7163	131	12	risk	risk	NOUN
aijes-7163	131	13	(	(	PUNCT
aijes-7163	131	14	volatility	volatility	NOUN
aijes-7163	131	15	)	)	PUNCT
aijes-7163	131	16	with	with	ADP
aijes-7163	131	17	tail	tail	NOUN
aijes-7163	131	18	risk	risk	NOUN
aijes-7163	131	19	(	(	PUNCT
aijes-7163	131	20	cvar	cvar	NOUN
aijes-7163	131	21	)	)	PUNCT
aijes-7163	131	22	.	.	PUNCT
aijes-7163	132	1	a	a	DET
aijes-7163	132	2	strategy	strategy	NOUN
aijes-7163	132	3	with	with	ADP
aijes-7163	132	4	low	low	ADJ
aijes-7163	132	5	cvar	cvar	NOUN
aijes-7163	132	6	but	but	CCONJ
aijes-7163	132	7	higher	high	ADJ
aijes-7163	132	8	volatility	volatility	NOUN
aijes-7163	132	9	may	may	AUX
aijes-7163	132	10	be	be	AUX
aijes-7163	132	11	suitable	suitable	ADJ
aijes-7163	132	12	for	for	ADP
aijes-7163	132	13	risk	risk	NOUN
aijes-7163	132	14	-	-	PUNCT
aijes-7163	132	15	averse	averse	ADJ
aijes-7163	132	16	investors	investor	NOUN
aijes-7163	132	17	,	,	PUNCT
aijes-7163	132	18	while	while	SCONJ
aijes-7163	132	19	others	other	NOUN
aijes-7163	132	20	might	might	AUX
aijes-7163	132	21	prefere	prefere	X
aijes-7163	132	22	strategies	strategy	NOUN
aijes-7163	132	23	with	with	ADP
aijes-7163	132	24	low	low	ADJ
aijes-7163	132	25	volatility	volatility	NOUN
aijes-7163	132	26	for	for	ADP
aijes-7163	132	27	consistent	consistent	ADJ
aijes-7163	132	28	returns	return	NOUN
aijes-7163	132	29	.	.	PUNCT
aijes-7163	133	1	the	the	DET
aijes-7163	133	2	patterns	pattern	NOUN
aijes-7163	133	3	in	in	ADP
aijes-7163	133	4	the	the	DET
aijes-7163	133	5	two	two	NUM
aijes-7163	133	6	graphs	graph	NOUN
aijes-7163	133	7	are	be	AUX
aijes-7163	133	8	likely	likely	ADV
aijes-7163	133	9	similar	similar	ADJ
aijes-7163	133	10	in	in	ADP
aijes-7163	133	11	overall	overall	ADJ
aijes-7163	133	12	behavior	behavior	NOUN
aijes-7163	133	13	,	,	PUNCT
aijes-7163	133	14	as	as	ADP
aijes-7163	133	15	both	both	DET
aijes-7163	133	16	measure	measure	NOUN
aijes-7163	133	17	aspects	aspect	NOUN
aijes-7163	133	18	of	of	ADP
aijes-7163	133	19	risk	risk	NOUN
aijes-7163	133	20	across	across	ADP
aijes-7163	133	21	time	time	NOUN
aijes-7163	133	22	and	and	CCONJ
aijes-7163	133	23	are	be	AUX
aijes-7163	133	24	influenced	influence	VERB
aijes-7163	133	25	by	by	ADP
aijes-7163	133	26	the	the	DET
aijes-7163	133	27	same	same	ADJ
aijes-7163	133	28	portfolio	portfolio	NOUN
aijes-7163	133	29	strategies	strategy	NOUN
aijes-7163	133	30	.	.	PUNCT
aijes-7163	134	1	however	however	ADV
aijes-7163	134	2	,	,	PUNCT
aijes-7163	134	3	there	there	PRON
aijes-7163	134	4	may	may	AUX
aijes-7163	134	5	be	be	AUX
aijes-7163	134	6	some	some	DET
aijes-7163	134	7	nuanced	nuanced	ADJ
aijes-7163	134	8	differences	difference	NOUN
aijes-7163	134	9	depending	depend	VERB
aijes-7163	134	10	on	on	ADP
aijes-7163	134	11	how	how	SCONJ
aijes-7163	134	12	each	each	DET
aijes-7163	134	13	metric	metric	ADJ
aijes-7163	134	14	reacts	react	VERB
aijes-7163	134	15	to	to	ADP
aijes-7163	134	16	market	market	NOUN
aijes-7163	134	17	changes	change	NOUN
aijes-7163	134	18	.	.	PUNCT
aijes-7163	135	1	graph	graph	NOUN
aijes-7163	135	2	5	5	NUM
aijes-7163	135	3	.	.	PUNCT
aijes-7163	136	1	the	the	DET
aijes-7163	136	2	turnover	turnover	NOUN
aijes-7163	136	3	of	of	ADP
aijes-7163	136	4	the	the	DET
aijes-7163	136	5	portolios	portolio	NOUN
aijes-7163	136	6	source	source	NOUN
aijes-7163	136	7	:	:	PUNCT
aijes-7163	136	8	computed	compute	VERB
aijes-7163	136	9	with	with	ADP
aijes-7163	136	10	matlab	matlab	PROPN
aijes-7163	136	11	turnover	turnover	NOUN
aijes-7163	136	12	measures	measure	VERB
aijes-7163	136	13	the	the	DET
aijes-7163	136	14	amount	amount	NOUN
aijes-7163	136	15	of	of	ADP
aijes-7163	136	16	trading	trading	NOUN
aijes-7163	136	17	required	require	VERB
aijes-7163	136	18	to	to	PART
aijes-7163	136	19	rebalance	rebalance	VERB
aijes-7163	136	20	a	a	DET
aijes-7163	136	21	portfolio	portfolio	NOUN
aijes-7163	136	22	to	to	PART
aijes-7163	136	23	align	align	VERB
aijes-7163	136	24	with	with	ADP
aijes-7163	136	25	a	a	DET
aijes-7163	136	26	given	give	VERB
aijes-7163	136	27	strategy	strategy	NOUN
aijes-7163	136	28	.	.	PUNCT
aijes-7163	137	1	higher	high	ADJ
aijes-7163	137	2	turnover	turnover	NOUN
aijes-7163	137	3	generally	generally	ADV
aijes-7163	137	4	implies	imply	VERB
aijes-7163	137	5	higher	high	ADJ
aijes-7163	137	6	transaction	transaction	NOUN
aijes-7163	137	7	costs	cost	NOUN
aijes-7163	137	8	and	and	CCONJ
aijes-7163	137	9	more	more	ADV
aijes-7163	137	10	frequent	frequent	ADJ
aijes-7163	137	11	portfolio	portfolio	NOUN
aijes-7163	137	12	adjustments	adjustment	NOUN
aijes-7163	137	13	.	.	PUNCT
aijes-7163	138	1	mean	mean	ADJ
aijes-7163	138	2	variance	variance	NOUN
aijes-7163	138	3	and	and	CCONJ
aijes-7163	138	4	cvar	cvar	NOUN
aijes-7163	138	5	are	be	AUX
aijes-7163	138	6	focused	focus	VERB
aijes-7163	138	7	in	in	ADP
aijes-7163	138	8	a	a	DET
aijes-7163	138	9	smaller	small	ADJ
aijes-7163	138	10	number	number	NOUN
aijes-7163	138	11	of	of	ADP
aijes-7163	138	12	stocks	stock	NOUN
aijes-7163	138	13	,	,	PUNCT
aijes-7163	138	14	thus	thus	ADV
aijes-7163	138	15	the	the	DET
aijes-7163	138	16	portfolio	portfolio	NOUN
aijes-7163	138	17	turnover	turnover	NOUN
aijes-7163	138	18	will	will	AUX
aijes-7163	138	19	be	be	AUX
aijes-7163	138	20	higher	high	ADJ
aijes-7163	138	21	.	.	PUNCT
aijes-7163	139	1	graph	graph	NOUN
aijes-7163	139	2	6	6	NUM
aijes-7163	139	3	.	.	PUNCT
aijes-7163	140	1	the	the	DET
aijes-7163	140	2	number	number	NOUN
aijes-7163	140	3	of	of	ADP
aijes-7163	140	4	assets	asset	NOUN
aijes-7163	140	5	focused	focus	VERB
aijes-7163	140	6	source	source	NOUN
aijes-7163	140	7	:	:	PUNCT
aijes-7163	140	8	computed	compute	VERB
aijes-7163	140	9	with	with	ADP
aijes-7163	140	10	matlab	matlab	PROPN
aijes-7163	140	11	exchange	exchange	NOUN
aijes-7163	140	12	-	-	PUNCT
aijes-7163	140	13	traded	trade	VERB
aijes-7163	140	14	funds	fund	NOUN
aijes-7163	140	15	(	(	PUNCT
aijes-7163	140	16	etfs	etfs	NOUN
aijes-7163	140	17	)	)	PUNCT
aijes-7163	140	18	optimization	optimization	NOUN
aijes-7163	140	19	with	with	ADP
aijes-7163	140	20	risk	risk	NOUN
aijes-7163	140	21	parity	parity	NOUN
aijes-7163	140	22	strategies	strategy	NOUN
aijes-7163	140	23	338	338	NUM
aijes-7163	140	24	risk	risk	NOUN
aijes-7163	140	25	parity	parity	NOUN
aijes-7163	140	26	,	,	PUNCT
aijes-7163	140	27	being	be	AUX
aijes-7163	140	28	less	less	ADV
aijes-7163	140	29	sensitive	sensitive	ADJ
aijes-7163	140	30	to	to	ADP
aijes-7163	140	31	extreme	extreme	ADJ
aijes-7163	140	32	market	market	NOUN
aijes-7163	140	33	events	event	NOUN
aijes-7163	140	34	or	or	CCONJ
aijes-7163	140	35	return	return	NOUN
aijes-7163	140	36	estimates	estimate	NOUN
aijes-7163	140	37	,	,	PUNCT
aijes-7163	140	38	generally	generally	ADV
aijes-7163	140	39	has	have	AUX
aijes-7163	140	40	the	the	DET
aijes-7163	140	41	lowest	low	ADJ
aijes-7163	140	42	turnover	turnover	NOUN
aijes-7163	140	43	.	.	PUNCT
aijes-7163	141	1	another	another	DET
aijes-7163	141	2	way	way	NOUN
aijes-7163	141	3	to	to	PART
aijes-7163	141	4	check	check	VERB
aijes-7163	141	5	the	the	DET
aijes-7163	141	6	diversification	diversification	NOUN
aijes-7163	141	7	is	be	AUX
aijes-7163	141	8	using	use	VERB
aijes-7163	141	9	the	the	DET
aijes-7163	141	10	herfindal	herfindal	NOUN
aijes-7163	141	11	and	and	CCONJ
aijes-7163	141	12	bera	bera	NOUN
aijes-7163	141	13	park	park	NOUN
aijes-7163	141	14	indexes	index	NOUN
aijes-7163	141	15	.	.	PUNCT
aijes-7163	142	1	graph	graph	VERB
aijes-7163	142	2	7	7	NUM
aijes-7163	142	3	.	.	PUNCT
aijes-7163	143	1	the	the	DET
aijes-7163	143	2	herfindal	herfindal	ADJ
aijes-7163	143	3	index	index	NOUN
aijes-7163	143	4	source	source	NOUN
aijes-7163	143	5	:	:	PUNCT
aijes-7163	143	6	computed	compute	VERB
aijes-7163	143	7	with	with	ADP
aijes-7163	143	8	matlab	matlab	PROPN
aijes-7163	143	9	graph	graph	NOUN
aijes-7163	143	10	8	8	NUM
aijes-7163	143	11	.	.	PUNCT
aijes-7163	144	1	the	the	DET
aijes-7163	144	2	bera	bera	PROPN
aijes-7163	144	3	park	park	NOUN
aijes-7163	144	4	index	index	PROPN
aijes-7163	144	5	source	source	NOUN
aijes-7163	144	6	:	:	PUNCT
aijes-7163	144	7	computed	compute	VERB
aijes-7163	144	8	with	with	ADP
aijes-7163	144	9	matlab	matlab	PROPN
aijes-7163	144	10	the	the	DET
aijes-7163	144	11	herfindal	herfindal	NOUN
aijes-7163	144	12	(	(	PUNCT
aijes-7163	144	13	graph	graph	NOUN
aijes-7163	144	14	7	7	NUM
aijes-7163	144	15	)	)	PUNCT
aijes-7163	144	16	and	and	CCONJ
aijes-7163	144	17	the	the	DET
aijes-7163	144	18	bera	bera	NOUN
aijes-7163	144	19	park	park	NOUN
aijes-7163	144	20	(	(	PUNCT
aijes-7163	144	21	graph	graph	NOUN
aijes-7163	144	22	8)	8)	NUM
aijes-7163	144	23	have	have	VERB
aijes-7163	144	24	the	the	DET
aijes-7163	144	25	same	same	ADJ
aijes-7163	144	26	traits	trait	NOUN
aijes-7163	144	27	with	with	ADP
aijes-7163	144	28	the	the	DET
aijes-7163	144	29	highest	high	ADJ
aijes-7163	144	30	value	value	NOUN
aijes-7163	144	31	in	in	ADP
aijes-7163	144	32	the	the	DET
aijes-7163	144	33	uniform	uniform	ADJ
aijes-7163	144	34	portfolio	portfolio	NOUN
aijes-7163	144	35	and	and	CCONJ
aijes-7163	144	36	closer	close	ADJ
aijes-7163	144	37	values	value	NOUN
aijes-7163	144	38	with	with	ADP
aijes-7163	144	39	risk	risk	NOUN
aijes-7163	144	40	parity	parity	NOUN
aijes-7163	144	41	strategies	strategy	NOUN
aijes-7163	144	42	.	.	PUNCT
aijes-7163	145	1	this	this	PRON
aijes-7163	145	2	means	mean	VERB
aijes-7163	145	3	that	that	SCONJ
aijes-7163	145	4	these	these	DET
aijes-7163	145	5	portfolios	portfolio	NOUN
aijes-7163	145	6	are	be	AUX
aijes-7163	145	7	well	well	ADV
aijes-7163	145	8	diversified	diversified	ADJ
aijes-7163	145	9	.	.	PUNCT
aijes-7163	146	1	the	the	DET
aijes-7163	146	2	cvar	cvar	NOUN
aijes-7163	146	3	and	and	CCONJ
aijes-7163	146	4	mean	mean	ADJ
aijes-7163	146	5	variance	variance	NOUN
aijes-7163	146	6	focus	focus	NOUN
aijes-7163	146	7	on	on	ADP
aijes-7163	146	8	less	less	ADJ
aijes-7163	146	9	assets	asset	NOUN
aijes-7163	146	10	that	that	PRON
aijes-7163	146	11	have	have	VERB
aijes-7163	146	12	the	the	DET
aijes-7163	146	13	same	same	ADJ
aijes-7163	146	14	traits	trait	NOUN
aijes-7163	146	15	.	.	PUNCT
aijes-7163	147	1	all	all	DET
aijes-7163	147	2	the	the	DET
aijes-7163	147	3	algorithms	algorithm	NOUN
aijes-7163	147	4	are	be	AUX
aijes-7163	147	5	made	make	VERB
aijes-7163	147	6	coding	code	VERB
aijes-7163	147	7	in	in	ADP
aijes-7163	147	8	matlab	matlab	PROPN
aijes-7163	147	9	without	without	ADP
aijes-7163	147	10	using	use	VERB
aijes-7163	147	11	ai	ai	NOUN
aijes-7163	147	12	.	.	PUNCT
aijes-7163	148	1	today	today	NOUN
aijes-7163	148	2	there	there	PRON
aijes-7163	148	3	are	be	VERB
aijes-7163	148	4	several	several	ADJ
aijes-7163	148	5	articles	article	NOUN
aijes-7163	148	6	that	that	PRON
aijes-7163	148	7	compare	compare	VERB
aijes-7163	148	8	the	the	DET
aijes-7163	148	9	ai	ai	ADJ
aijes-7163	148	10	role	role	NOUN
aijes-7163	148	11	(	(	PUNCT
aijes-7163	148	12	tirana	tirana	PROPN
aijes-7163	148	13	&	&	CCONJ
aijes-7163	148	14	bejleri	bejleri	PROPN
aijes-7163	148	15	,	,	PUNCT
aijes-7163	148	16	2024	2024	NUM
aijes-7163	148	17	,	,	PUNCT
aijes-7163	148	18	p.2	p.2	NUM
aijes-7163	148	19	)	)	PUNCT
aijes-7163	148	20	.	.	PUNCT
aijes-7163	149	1	denis	denis	PROPN
aijes-7163	149	2	veliu	veliu	VERB
aijes-7163	149	3	339	339	NUM
aijes-7163	149	4	conclusions	conclusion	NOUN
aijes-7163	149	5	this	this	DET
aijes-7163	149	6	study	study	NOUN
aijes-7163	149	7	demonstrates	demonstrate	VERB
aijes-7163	149	8	the	the	DET
aijes-7163	149	9	effectiveness	effectiveness	NOUN
aijes-7163	149	10	of	of	ADP
aijes-7163	149	11	applying	apply	VERB
aijes-7163	149	12	the	the	DET
aijes-7163	149	13	risk	risk	NOUN
aijes-7163	149	14	parity	parity	NOUN
aijes-7163	149	15	methodology	methodology	NOUN
aijes-7163	149	16	to	to	PART
aijes-7163	149	17	optimize	optimize	VERB
aijes-7163	149	18	etf	etf	NOUN
aijes-7163	149	19	portfolios	portfolio	NOUN
aijes-7163	149	20	,	,	PUNCT
aijes-7163	149	21	offering	offer	VERB
aijes-7163	149	22	a	a	DET
aijes-7163	149	23	compelling	compelling	ADJ
aijes-7163	149	24	alternative	alternative	NOUN
aijes-7163	149	25	to	to	ADP
aijes-7163	149	26	traditional	traditional	ADJ
aijes-7163	149	27	portfolio	portfolio	NOUN
aijes-7163	149	28	allocation	allocation	NOUN
aijes-7163	149	29	techniques	technique	NOUN
aijes-7163	149	30	.	.	PUNCT
aijes-7163	150	1	by	by	ADP
aijes-7163	150	2	focusing	focus	VERB
aijes-7163	150	3	on	on	ADP
aijes-7163	150	4	balancing	balance	VERB
aijes-7163	150	5	risk	risk	NOUN
aijes-7163	150	6	contributions	contribution	NOUN
aijes-7163	150	7	rather	rather	ADV
aijes-7163	150	8	than	than	ADP
aijes-7163	150	9	capital	capital	NOUN
aijes-7163	150	10	weights	weight	NOUN
aijes-7163	150	11	,	,	PUNCT
aijes-7163	150	12	risk	risk	NOUN
aijes-7163	150	13	parity	parity	NOUN
aijes-7163	150	14	provides	provide	VERB
aijes-7163	150	15	a	a	DET
aijes-7163	150	16	more	more	ADV
aijes-7163	150	17	diversified	diversified	ADJ
aijes-7163	150	18	and	and	CCONJ
aijes-7163	150	19	stable	stable	ADJ
aijes-7163	150	20	investment	investment	NOUN
aijes-7163	150	21	framework	framework	NOUN
aijes-7163	150	22	.	.	PUNCT
aijes-7163	151	1	using	use	VERB
aijes-7163	151	2	ten	ten	NUM
aijes-7163	151	3	assets	asset	NOUN
aijes-7163	151	4	that	that	PRON
aijes-7163	151	5	comprise	comprise	VERB
aijes-7163	151	6	the	the	DET
aijes-7163	151	7	ea	ea	PROPN
aijes-7163	151	8	bridgeway	bridgeway	ADJ
aijes-7163	151	9	blue	blue	ADJ
aijes-7163	151	10	chip	chip	NOUN
aijes-7163	151	11	etf	etf	NOUN
aijes-7163	151	12	(	(	PUNCT
aijes-7163	151	13	bblu	bblu	NOUN
aijes-7163	151	14	)	)	PUNCT
aijes-7163	151	15	,	,	PUNCT
aijes-7163	151	16	the	the	DET
aijes-7163	151	17	research	research	NOUN
aijes-7163	151	18	compared	compare	VERB
aijes-7163	151	19	various	various	ADJ
aijes-7163	151	20	optimization	optimization	NOUN
aijes-7163	151	21	strategies	strategy	NOUN
aijes-7163	151	22	,	,	PUNCT
aijes-7163	151	23	including	include	VERB
aijes-7163	151	24	risk	risk	NOUN
aijes-7163	151	25	parity	parity	NOUN
aijes-7163	151	26	with	with	ADP
aijes-7163	151	27	standard	standard	ADJ
aijes-7163	151	28	deviation	deviation	NOUN
aijes-7163	151	29	,	,	PUNCT
aijes-7163	151	30	risk	risk	NOUN
aijes-7163	151	31	parity	parity	NOUN
aijes-7163	151	32	with	with	ADP
aijes-7163	151	33	cvar	cvar	NOUN
aijes-7163	151	34	,	,	PUNCT
aijes-7163	151	35	minimum	minimum	ADJ
aijes-7163	151	36	variance	variance	NOUN
aijes-7163	151	37	,	,	PUNCT
aijes-7163	151	38	minimum	minimum	NOUN
aijes-7163	151	39	cvar	cvar	NOUN
aijes-7163	151	40	,	,	PUNCT
aijes-7163	151	41	and	and	CCONJ
aijes-7163	151	42	naïve	naïve	ADJ
aijes-7163	151	43	allocation	allocation	NOUN
aijes-7163	151	44	.	.	PUNCT
aijes-7163	152	1	the	the	DET
aijes-7163	152	2	results	result	NOUN
aijes-7163	152	3	highlight	highlight	VERB
aijes-7163	152	4	the	the	DET
aijes-7163	152	5	advantages	advantage	NOUN
aijes-7163	152	6	of	of	ADP
aijes-7163	152	7	risk	risk	NOUN
aijes-7163	152	8	parity	parity	NOUN
aijes-7163	152	9	strategies	strategy	NOUN
aijes-7163	152	10	in	in	ADP
aijes-7163	152	11	achieving	achieve	VERB
aijes-7163	152	12	superior	superior	ADJ
aijes-7163	152	13	diversification	diversification	NOUN
aijes-7163	152	14	and	and	CCONJ
aijes-7163	152	15	risk	risk	NOUN
aijes-7163	152	16	-	-	PUNCT
aijes-7163	152	17	adjusted	adjust	VERB
aijes-7163	152	18	returns	return	NOUN
aijes-7163	152	19	.	.	PUNCT
aijes-7163	153	1	specifically	specifically	ADV
aijes-7163	153	2	,	,	PUNCT
aijes-7163	153	3	risk	risk	NOUN
aijes-7163	153	4	parity	parity	NOUN
aijes-7163	153	5	with	with	ADP
aijes-7163	153	6	cvar	cvar	NOUN
aijes-7163	153	7	proved	prove	VERB
aijes-7163	153	8	particularly	particularly	ADV
aijes-7163	153	9	effective	effective	ADJ
aijes-7163	153	10	in	in	ADP
aijes-7163	153	11	managing	manage	VERB
aijes-7163	153	12	tail	tail	NOUN
aijes-7163	153	13	risks	risk	NOUN
aijes-7163	153	14	,	,	PUNCT
aijes-7163	153	15	showcasing	showcase	VERB
aijes-7163	153	16	robust	robust	ADJ
aijes-7163	153	17	performance	performance	NOUN
aijes-7163	153	18	under	under	ADP
aijes-7163	153	19	different	different	ADJ
aijes-7163	153	20	market	market	NOUN
aijes-7163	153	21	scenarios	scenario	NOUN
aijes-7163	153	22	.	.	PUNCT
aijes-7163	154	1	unlike	unlike	ADP
aijes-7163	154	2	traditional	traditional	ADJ
aijes-7163	154	3	methods	method	NOUN
aijes-7163	154	4	such	such	ADJ
aijes-7163	154	5	as	as	ADP
aijes-7163	154	6	minimum	minimum	ADJ
aijes-7163	154	7	variance	variance	NOUN
aijes-7163	154	8	,	,	PUNCT
aijes-7163	154	9	which	which	PRON
aijes-7163	154	10	tend	tend	VERB
aijes-7163	154	11	to	to	PART
aijes-7163	154	12	concentrate	concentrate	VERB
aijes-7163	154	13	heavily	heavily	ADV
aijes-7163	154	14	on	on	ADP
aijes-7163	154	15	a	a	DET
aijes-7163	154	16	few	few	ADJ
aijes-7163	154	17	low	low	ADJ
aijes-7163	154	18	-	-	PUNCT
aijes-7163	154	19	risk	risk	NOUN
aijes-7163	154	20	assets	asset	NOUN
aijes-7163	154	21	,	,	PUNCT
aijes-7163	154	22	risk	risk	NOUN
aijes-7163	154	23	parity	parity	NOUN
aijes-7163	154	24	models	model	NOUN
aijes-7163	154	25	distribute	distribute	VERB
aijes-7163	154	26	risk	risk	NOUN
aijes-7163	154	27	more	more	ADV
aijes-7163	154	28	evenly	evenly	ADV
aijes-7163	154	29	across	across	ADP
aijes-7163	154	30	the	the	DET
aijes-7163	154	31	portfolio	portfolio	NOUN
aijes-7163	154	32	,	,	PUNCT
aijes-7163	154	33	mitigating	mitigate	VERB
aijes-7163	154	34	the	the	DET
aijes-7163	154	35	impact	impact	NOUN
aijes-7163	154	36	of	of	ADP
aijes-7163	154	37	extreme	extreme	ADJ
aijes-7163	154	38	market	market	NOUN
aijes-7163	154	39	events	event	NOUN
aijes-7163	154	40	and	and	CCONJ
aijes-7163	154	41	ensuring	ensure	VERB
aijes-7163	154	42	a	a	DET
aijes-7163	154	43	more	more	ADV
aijes-7163	154	44	stable	stable	ADJ
aijes-7163	154	45	return	return	NOUN
aijes-7163	154	46	profile	profile	NOUN
aijes-7163	154	47	.	.	PUNCT
aijes-7163	155	1	the	the	DET
aijes-7163	155	2	rolling	rolling	ADJ
aijes-7163	155	3	window	window	NOUN
aijes-7163	155	4	analysis	analysis	NOUN
aijes-7163	155	5	confirmed	confirm	VERB
aijes-7163	155	6	that	that	SCONJ
aijes-7163	155	7	dynamic	dynamic	ADJ
aijes-7163	155	8	reallocation	reallocation	NOUN
aijes-7163	155	9	based	base	VERB
aijes-7163	155	10	on	on	ADP
aijes-7163	155	11	recent	recent	ADJ
aijes-7163	155	12	data	datum	NOUN
aijes-7163	155	13	enhances	enhance	VERB
aijes-7163	155	14	the	the	DET
aijes-7163	155	15	responsiveness	responsiveness	NOUN
aijes-7163	155	16	of	of	ADP
aijes-7163	155	17	portfolios	portfolio	NOUN
aijes-7163	155	18	to	to	ADP
aijes-7163	155	19	changing	change	VERB
aijes-7163	155	20	market	market	NOUN
aijes-7163	155	21	conditions	condition	NOUN
aijes-7163	155	22	.	.	PUNCT
aijes-7163	156	1	while	while	SCONJ
aijes-7163	156	2	the	the	DET
aijes-7163	156	3	naïve	naïve	ADJ
aijes-7163	156	4	strategy	strategy	NOUN
aijes-7163	156	5	provides	provide	VERB
aijes-7163	156	6	the	the	DET
aijes-7163	156	7	highest	high	ADJ
aijes-7163	156	8	diversification	diversification	NOUN
aijes-7163	156	9	,	,	PUNCT
aijes-7163	156	10	it	it	PRON
aijes-7163	156	11	lacks	lack	VERB
aijes-7163	156	12	risk	risk	NOUN
aijes-7163	156	13	considerations	consideration	NOUN
aijes-7163	156	14	,	,	PUNCT
aijes-7163	156	15	leading	lead	VERB
aijes-7163	156	16	to	to	ADP
aijes-7163	156	17	suboptimal	suboptimal	ADJ
aijes-7163	156	18	outcomes	outcome	NOUN
aijes-7163	156	19	in	in	ADP
aijes-7163	156	20	volatile	volatile	ADJ
aijes-7163	156	21	markets	market	NOUN
aijes-7163	156	22	.	.	PUNCT
aijes-7163	157	1	in	in	ADP
aijes-7163	157	2	contrast	contrast	NOUN
aijes-7163	157	3	,	,	PUNCT
aijes-7163	157	4	risk	risk	NOUN
aijes-7163	157	5	parity	parity	NOUN
aijes-7163	157	6	strategies	strategy	NOUN
aijes-7163	157	7	consistently	consistently	ADV
aijes-7163	157	8	achieved	achieve	VERB
aijes-7163	157	9	a	a	DET
aijes-7163	157	10	balance	balance	NOUN
aijes-7163	157	11	between	between	ADP
aijes-7163	157	12	risk	risk	NOUN
aijes-7163	157	13	management	management	NOUN
aijes-7163	157	14	and	and	CCONJ
aijes-7163	157	15	return	return	VERB
aijes-7163	157	16	optimization	optimization	NOUN
aijes-7163	157	17	.	.	PUNCT
aijes-7163	158	1	this	this	DET
aijes-7163	158	2	research	research	NOUN
aijes-7163	158	3	underscores	underscore	VERB
aijes-7163	158	4	the	the	DET
aijes-7163	158	5	utility	utility	NOUN
aijes-7163	158	6	of	of	ADP
aijes-7163	158	7	etfs	etfs	PROPN
aijes-7163	158	8	as	as	ADP
aijes-7163	158	9	cost	cost	NOUN
aijes-7163	158	10	-	-	PUNCT
aijes-7163	158	11	effective	effective	ADJ
aijes-7163	158	12	and	and	CCONJ
aijes-7163	158	13	accessible	accessible	ADJ
aijes-7163	158	14	instruments	instrument	NOUN
aijes-7163	158	15	for	for	ADP
aijes-7163	158	16	implementing	implement	VERB
aijes-7163	158	17	sophisticated	sophisticated	ADJ
aijes-7163	158	18	portfolio	portfolio	NOUN
aijes-7163	158	19	optimization	optimization	NOUN
aijes-7163	158	20	techniques	technique	NOUN
aijes-7163	158	21	like	like	ADP
aijes-7163	158	22	risk	risk	NOUN
aijes-7163	158	23	parity	parity	NOUN
aijes-7163	158	24	.	.	PUNCT
aijes-7163	159	1	by	by	ADP
aijes-7163	159	2	addressing	address	VERB
aijes-7163	159	3	practical	practical	ADJ
aijes-7163	159	4	constraints	constraint	NOUN
aijes-7163	159	5	such	such	ADJ
aijes-7163	159	6	as	as	ADP
aijes-7163	159	7	transaction	transaction	NOUN
aijes-7163	159	8	costs	cost	NOUN
aijes-7163	159	9	and	and	CCONJ
aijes-7163	159	10	turnover	turnover	NOUN
aijes-7163	159	11	,	,	PUNCT
aijes-7163	159	12	the	the	DET
aijes-7163	159	13	study	study	NOUN
aijes-7163	159	14	bridges	bridge	VERB
aijes-7163	159	15	the	the	DET
aijes-7163	159	16	gap	gap	NOUN
aijes-7163	159	17	between	between	ADP
aijes-7163	159	18	theoretical	theoretical	ADJ
aijes-7163	159	19	portfolio	portfolio	NOUN
aijes-7163	159	20	models	model	NOUN
aijes-7163	159	21	and	and	CCONJ
aijes-7163	159	22	their	their	PRON
aijes-7163	159	23	real	real	ADJ
aijes-7163	159	24	-	-	PUNCT
aijes-7163	159	25	world	world	NOUN
aijes-7163	159	26	application	application	NOUN
aijes-7163	159	27	.	.	PUNCT
aijes-7163	160	1	this	this	PRON
aijes-7163	160	2	emphasizes	emphasize	VERB
aijes-7163	160	3	also	also	ADV
aijes-7163	160	4	the	the	DET
aijes-7163	160	5	dynamic	dynamic	NOUN
aijes-7163	160	6	of	of	ADP
aijes-7163	160	7	the	the	DET
aijes-7163	160	8	markets	market	NOUN
aijes-7163	160	9	.	.	PUNCT
aijes-7163	161	1	it	it	PRON
aijes-7163	161	2	is	be	AUX
aijes-7163	161	3	important	important	ADJ
aijes-7163	161	4	to	to	PART
aijes-7163	161	5	note	note	VERB
aijes-7163	161	6	that	that	SCONJ
aijes-7163	161	7	in	in	ADP
aijes-7163	161	8	these	these	DET
aijes-7163	161	9	strategies	strategy	NOUN
aijes-7163	161	10	,	,	PUNCT
aijes-7163	161	11	the	the	DET
aijes-7163	161	12	resilience	resilience	NOUN
aijes-7163	161	13	of	of	ADP
aijes-7163	161	14	risk	risk	NOUN
aijes-7163	161	15	management	management	NOUN
aijes-7163	161	16	is	be	AUX
aijes-7163	161	17	also	also	ADV
aijes-7163	161	18	evident	evident	ADJ
aijes-7163	161	19	in	in	ADP
aijes-7163	161	20	terms	term	NOUN
aijes-7163	161	21	of	of	ADP
aijes-7163	161	22	cost	cost	NOUN
aijes-7163	161	23	-	-	PUNCT
aijes-7163	161	24	effectiveness	effectiveness	NOUN
aijes-7163	161	25	,	,	PUNCT
aijes-7163	161	26	particularly	particularly	ADV
aijes-7163	161	27	when	when	SCONJ
aijes-7163	161	28	faced	face	VERB
aijes-7163	161	29	with	with	ADP
aijes-7163	161	30	transaction	transaction	NOUN
aijes-7163	161	31	costs	cost	NOUN
aijes-7163	161	32	during	during	ADP
aijes-7163	161	33	portfolio	portfolio	NOUN
aijes-7163	161	34	calibration	calibration	NOUN
aijes-7163	161	35	.	.	PUNCT
aijes-7163	162	1	also	also	ADV
aijes-7163	162	2	,	,	PUNCT
aijes-7163	162	3	the	the	DET
aijes-7163	162	4	financial	financial	ADJ
aijes-7163	162	5	resilience	resilience	NOUN
aijes-7163	162	6	in	in	ADP
aijes-7163	162	7	these	these	DET
aijes-7163	162	8	models	model	NOUN
aijes-7163	162	9	applied	apply	VERB
aijes-7163	162	10	to	to	ADP
aijes-7163	162	11	etf	etf	NOUN
aijes-7163	162	12	funds	fund	NOUN
aijes-7163	162	13	is	be	AUX
aijes-7163	162	14	important	important	ADJ
aijes-7163	162	15	in	in	ADP
aijes-7163	162	16	terms	term	NOUN
aijes-7163	162	17	of	of	ADP
aijes-7163	162	18	downturns	downturn	NOUN
aijes-7163	162	19	of	of	ADP
aijes-7163	162	20	the	the	DET
aijes-7163	162	21	markets	market	NOUN
aijes-7163	162	22	to	to	PART
aijes-7163	162	23	mitigate	mitigate	VERB
aijes-7163	162	24	the	the	DET
aijes-7163	162	25	number	number	NOUN
aijes-7163	162	26	of	of	ADP
aijes-7163	162	27	losses	loss	NOUN
aijes-7163	162	28	of	of	ADP
aijes-7163	162	29	values	value	NOUN
aijes-7163	162	30	.	.	PUNCT
aijes-7163	163	1	future	future	ADJ
aijes-7163	163	2	research	research	NOUN
aijes-7163	163	3	could	could	AUX
aijes-7163	163	4	explore	explore	VERB
aijes-7163	163	5	extending	extend	VERB
aijes-7163	163	6	this	this	DET
aijes-7163	163	7	framework	framework	NOUN
aijes-7163	163	8	to	to	ADP
aijes-7163	163	9	broader	broad	ADJ
aijes-7163	163	10	datasets	dataset	NOUN
aijes-7163	163	11	,	,	PUNCT
aijes-7163	163	12	including	include	VERB
aijes-7163	163	13	alternative	alternative	ADJ
aijes-7163	163	14	asset	asset	NOUN
aijes-7163	163	15	classes	class	NOUN
aijes-7163	163	16	and	and	CCONJ
aijes-7163	163	17	global	global	ADJ
aijes-7163	163	18	markets	market	NOUN
aijes-7163	163	19	.	.	PUNCT
aijes-7163	164	1	additionally	additionally	ADV
aijes-7163	164	2	,	,	PUNCT
aijes-7163	164	3	integrating	integrate	VERB
aijes-7163	164	4	machine	machine	NOUN
aijes-7163	164	5	learning	learn	VERB
aijes-7163	164	6	techniques	technique	NOUN
aijes-7163	164	7	to	to	PART
aijes-7163	164	8	forecast	forecast	VERB
aijes-7163	164	9	risk	risk	NOUN
aijes-7163	164	10	and	and	CCONJ
aijes-7163	164	11	enhance	enhance	VERB
aijes-7163	164	12	allocation	allocation	NOUN
aijes-7163	164	13	models	model	NOUN
aijes-7163	164	14	could	could	AUX
aijes-7163	164	15	further	far	ADV
aijes-7163	164	16	improve	improve	VERB
aijes-7163	164	17	portfolio	portfolio	NOUN
aijes-7163	164	18	performance	performance	NOUN
aijes-7163	164	19	.	.	PUNCT
aijes-7163	165	1	overall	overall	ADJ
aijes-7163	165	2	,	,	PUNCT
aijes-7163	165	3	risk	risk	NOUN
aijes-7163	165	4	parity	parity	NOUN
aijes-7163	165	5	offers	offer	VERB
aijes-7163	165	6	a	a	DET
aijes-7163	165	7	strong	strong	ADJ
aijes-7163	165	8	foundation	foundation	NOUN
aijes-7163	165	9	for	for	ADP
aijes-7163	165	10	managing	manage	VERB
aijes-7163	165	11	etf	etf	NOUN
aijes-7163	165	12	portfolios	portfolio	NOUN
aijes-7163	165	13	in	in	ADP
aijes-7163	165	14	both	both	CCONJ
aijes-7163	165	15	institutional	institutional	ADJ
aijes-7163	165	16	and	and	CCONJ
aijes-7163	165	17	individual	individual	ADJ
aijes-7163	165	18	investing	investing	NOUN
aijes-7163	165	19	contexts	contexts	NOUN
aijes-7163	165	20	,	,	PUNCT
aijes-7163	165	21	providing	provide	VERB
aijes-7163	165	22	a	a	DET
aijes-7163	165	23	pathway	pathway	NOUN
aijes-7163	165	24	for	for	ADP
aijes-7163	165	25	more	more	ADV
aijes-7163	165	26	resilient	resilient	ADJ
aijes-7163	165	27	and	and	CCONJ
aijes-7163	165	28	diversified	diversified	ADJ
aijes-7163	165	29	investments	investment	NOUN
aijes-7163	165	30	.	.	PUNCT
aijes-7163	166	1	references	reference	NOUN
aijes-7163	166	2	1	1	NUM
aijes-7163	166	3	.	.	PUNCT
aijes-7163	166	4	artzner	artzner	NOUN
aijes-7163	166	5	,	,	PUNCT
aijes-7163	166	6	p.	p.	PROPN
aijes-7163	166	7	,	,	PUNCT
aijes-7163	166	8	delbaen	delbaen	PROPN
aijes-7163	166	9	,	,	PUNCT
aijes-7163	166	10	f.(1999).coherent	f.(1999).coherent	VERB
aijes-7163	166	11	measures	measure	NOUN
aijes-7163	166	12	of	of	ADP
aijes-7163	166	13	risk	risk	NOUN
aijes-7163	166	14	.	.	PUNCT
aijes-7163	167	1	journal	journal	NOUN
aijes-7163	167	2	of	of	ADP
aijes-7163	167	3	mathematical	mathematical	ADJ
aijes-7163	167	4	finance	finance	NOUN
aijes-7163	167	5	9:203	9:203	NUM
aijes-7163	167	6	-	-	SYM
aijes-7163	167	7	228	228	NUM
aijes-7163	167	8	.	.	PUNCT
aijes-7163	168	1	2	2	NUM
aijes-7163	168	2	.	.	X
aijes-7163	168	3	andersson	andersson	PROPN
aijes-7163	168	4	,	,	PUNCT
aijes-7163	168	5	f.	f.	PROPN
aijes-7163	168	6	,	,	PUNCT
aijes-7163	168	7	mausser	mausser	PROPN
aijes-7163	168	8	,	,	PUNCT
aijes-7163	168	9	h.	h.	PROPN
aijes-7163	168	10	,	,	PUNCT
aijes-7163	168	11	uryasev	uryasev	NOUN
aijes-7163	168	12	s.(2000	s.(2000	NOUN
aijes-7163	168	13	)	)	PUNCT
aijes-7163	168	14	credit	credit	NOUN
aijes-7163	168	15	risk	risk	NOUN
aijes-7163	168	16	optimization	optimization	NOUN
aijes-7163	168	17	with	with	ADP
aijes-7163	168	18	conditional	conditional	ADJ
aijes-7163	168	19	value	value	NOUN
aijes-7163	168	20	at	at	ADP
aijes-7163	168	21	risk	risk	NOUN
aijes-7163	168	22	criterion	criterion	NOUN
aijes-7163	168	23	.	.	PUNCT
aijes-7163	169	1	journal	journal	PROPN
aijes-7163	169	2	of	of	ADP
aijes-7163	169	3	mathematical	mathematical	ADJ
aijes-7163	169	4	programming	programming	NOUN
aijes-7163	169	5	.	.	PUNCT
aijes-7163	170	1	exchange	exchange	NOUN
aijes-7163	170	2	-	-	PUNCT
aijes-7163	170	3	traded	trade	VERB
aijes-7163	170	4	funds	fund	NOUN
aijes-7163	170	5	(	(	PUNCT
aijes-7163	170	6	etfs	etfs	NOUN
aijes-7163	170	7	)	)	PUNCT
aijes-7163	170	8	optimization	optimization	NOUN
aijes-7163	170	9	with	with	ADP
aijes-7163	170	10	risk	risk	NOUN
aijes-7163	170	11	parity	parity	NOUN
aijes-7163	170	12	strategies	strategy	NOUN
aijes-7163	170	13	340	340	NUM
aijes-7163	170	14	3	3	NUM
aijes-7163	170	15	.	.	PUNCT
aijes-7163	170	16	bacon	bacon	NOUN
aijes-7163	170	17	,	,	PUNCT
aijes-7163	170	18	c.r.(2008	c.r.(2008	PROPN
aijes-7163	170	19	)	)	PUNCT
aijes-7163	170	20	,	,	PUNCT
aijes-7163	170	21	practical	practical	ADJ
aijes-7163	170	22	portfolio	portfolio	NOUN
aijes-7163	170	23	performance	performance	NOUN
aijes-7163	170	24	measurement	measurement	NOUN
aijes-7163	170	25	and	and	CCONJ
aijes-7163	170	26	attribution	attribution	NOUN
aijes-7163	170	27	,	,	PUNCT
aijes-7163	170	28	vol	vol	NOUN
aijes-7163	170	29	.	.	PROPN
aijes-7163	170	30	546	546	NUM
aijes-7163	170	31	,	,	PUNCT
aijes-7163	170	32	wiley	wiley	NOUN
aijes-7163	170	33	,	,	PUNCT
aijes-7163	170	34	.	.	PUNCT
aijes-7163	171	1	4	4	X
aijes-7163	171	2	.	.	X
aijes-7163	171	3	caporin	caporin	PROPN
aijes-7163	171	4	,	,	PUNCT
aijes-7163	171	5	m.	m.	NOUN
aijes-7163	171	6	,	,	PUNCT
aijes-7163	171	7	lisi	lisi	PROPN
aijes-7163	171	8	,	,	PUNCT
aijes-7163	171	9	f.	f.	PROPN
aijes-7163	171	10	,	,	PUNCT
aijes-7163	171	11	janin	janin	NOUN
aijes-7163	171	12	,	,	PUNCT
aijes-7163	171	13	m.	m.	NOUN
aijes-7163	171	14	,(june	,(june	PUNCT
aijes-7163	171	15	2012	2012	NUM
aijes-7163	171	16	)	)	PUNCT
aijes-7163	171	17	.	.	PUNCT
aijes-7163	172	1	a	a	DET
aijes-7163	172	2	survey	survey	NOUN
aijes-7163	172	3	on	on	ADP
aijes-7163	172	4	four	four	NUM
aijes-7163	172	5	families	family	NOUN
aijes-7163	172	6	of	of	ADP
aijes-7163	172	7	perfomance	perfomance	NOUN
aijes-7163	172	8	measures	measure	NOUN
aijes-7163	172	9	.	.	PUNCT
aijes-7163	173	1	working	work	VERB
aijes-7163	173	2	papers	paper	NOUN
aijes-7163	173	3	series	series	NOUN
aijes-7163	173	4	.	.	PUNCT
aijes-7163	174	1	5	5	X
aijes-7163	174	2	.	.	X
aijes-7163	174	3	colucci	colucci	PROPN
aijes-7163	174	4	,	,	PUNCT
aijes-7163	174	5	s.	s.	PROPN
aijes-7163	174	6	,(2013	,(2013	PUNCT
aijes-7163	174	7	)	)	PUNCT
aijes-7163	174	8	.	.	PUNCT
aijes-7163	175	1	a	a	DET
aijes-7163	175	2	quick	quick	ADJ
aijes-7163	175	3	introduction	introduction	NOUN
aijes-7163	175	4	to	to	ADP
aijes-7163	175	5	quantitative	quantitative	ADJ
aijes-7163	175	6	models	model	NOUN
aijes-7163	175	7	that	that	PRON
aijes-7163	175	8	discard	discard	VERB
aijes-7163	175	9	estimation	estimation	NOUN
aijes-7163	175	10	of	of	ADP
aijes-7163	175	11	expected	expect	VERB
aijes-7163	175	12	returns	return	NOUN
aijes-7163	175	13	for	for	ADP
aijes-7163	175	14	portfolio	portfolio	NOUN
aijes-7163	175	15	construction	construction	NOUN
aijes-7163	175	16	.	.	PUNCT
aijes-7163	176	1	working	work	VERB
aijes-7163	176	2	paper	paper	NOUN
aijes-7163	176	3	.	.	PUNCT
aijes-7163	177	1	6	6	NUM
aijes-7163	177	2	.	.	X
aijes-7163	177	3	hill	hill	PROPN
aijes-7163	177	4	,	,	PUNCT
aijes-7163	177	5	j.	j.	PROPN
aijes-7163	177	6	,	,	PUNCT
aijes-7163	177	7	nadig	nadig	PROPN
aijes-7163	177	8	,	,	PUNCT
aijes-7163	177	9	d.	d.	PROPN
aijes-7163	177	10	,	,	PUNCT
aijes-7163	177	11	&	&	CCONJ
aijes-7163	177	12	hougan	hougan	NOUN
aijes-7163	177	13	,	,	PUNCT
aijes-7163	177	14	m.	m.	NOUN
aijes-7163	177	15	(	(	PUNCT
aijes-7163	177	16	2015	2015	NUM
aijes-7163	177	17	)	)	PUNCT
aijes-7163	177	18	.	.	PUNCT
aijes-7163	178	1	a	a	DET
aijes-7163	178	2	comprehensive	comprehensive	ADJ
aijes-7163	178	3	guide	guide	NOUN
aijes-7163	178	4	to	to	ADP
aijes-7163	178	5	exchangetraded	exchangetrade	VERB
aijes-7163	178	6	funds	fund	NOUN
aijes-7163	178	7	(	(	PUNCT
aijes-7163	178	8	etfs	etfs	PROPN
aijes-7163	178	9	)	)	PUNCT
aijes-7163	178	10	.	.	PUNCT
aijes-7163	179	1	wiley	wiley	PROPN
aijes-7163	179	2	.	.	PUNCT
aijes-7163	180	1	7	7	X
aijes-7163	180	2	.	.	X
aijes-7163	180	3	maillard	maillard	NOUN
aijes-7163	180	4	,	,	PUNCT
aijes-7163	180	5	s.	s.	PROPN
aijes-7163	180	6	,	,	PUNCT
aijes-7163	180	7	roncalli	roncalli	PROPN
aijes-7163	180	8	,	,	PUNCT
aijes-7163	180	9	t.	t.	PROPN
aijes-7163	180	10	,	,	PUNCT
aijes-7163	180	11	&	&	CCONJ
aijes-7163	180	12	teiletche	teiletche	PROPN
aijes-7163	180	13	,	,	PUNCT
aijes-7163	180	14	j.	j.	PROPN
aijes-7163	180	15	(	(	PUNCT
aijes-7163	180	16	2010	2010	NUM
aijes-7163	180	17	)	)	PUNCT
aijes-7163	180	18	.	.	PUNCT
aijes-7163	181	1	the	the	DET
aijes-7163	181	2	properties	property	NOUN
aijes-7163	181	3	of	of	ADP
aijes-7163	181	4	equally	equally	ADV
aijes-7163	181	5	weighted	weighted	ADJ
aijes-7163	181	6	risk	risk	NOUN
aijes-7163	181	7	contribution	contribution	NOUN
aijes-7163	181	8	portfolios	portfolio	NOUN
aijes-7163	181	9	.	.	PUNCT
aijes-7163	182	1	journal	journal	PROPN
aijes-7163	182	2	of	of	ADP
aijes-7163	182	3	portfolio	portfolio	NOUN
aijes-7163	182	4	management	management	PROPN
aijes-7163	182	5	,	,	PUNCT
aijes-7163	182	6	36(4	36(4	NUM
aijes-7163	182	7	)	)	PUNCT
aijes-7163	182	8	,	,	PUNCT
aijes-7163	182	9	60–70	60–70	NUM
aijes-7163	182	10	.	.	NOUN
aijes-7163	182	11	8	8	NUM
aijes-7163	182	12	.	.	X
aijes-7163	183	1	markowitz	markowitz	PROPN
aijes-7163	183	2	,	,	PUNCT
aijes-7163	183	3	h.m.(1952	h.m.(1952	PROPN
aijes-7163	183	4	)	)	PUNCT
aijes-7163	183	5	,	,	PUNCT
aijes-7163	183	6	portfolio	portfolio	NOUN
aijes-7163	183	7	selection	selection	NOUN
aijes-7163	183	8	.	.	PUNCT
aijes-7163	184	1	journal	journal	PROPN
aijes-7163	184	2	of	of	ADP
aijes-7163	184	3	finance	finance	NOUN
aijes-7163	184	4	,	,	PUNCT
aijes-7163	184	5	7:77.91	7:77.91	PROPN
aijes-7163	184	6	,	,	PUNCT
aijes-7163	184	7	.	.	PUNCT
aijes-7163	185	1	9	9	X
aijes-7163	185	2	.	.	X
aijes-7163	185	3	markowitz	markowitz	PROPN
aijes-7163	185	4	,	,	PUNCT
aijes-7163	185	5	h.	h.	PROPN
aijes-7163	185	6	,	,	PUNCT
aijes-7163	185	7	(	(	PUNCT
aijes-7163	185	8	1987	1987	NUM
aijes-7163	185	9	)	)	PUNCT
aijes-7163	185	10	.	.	PUNCT
aijes-7163	186	1	mean	mean	ADJ
aijes-7163	186	2	-	-	PUNCT
aijes-7163	186	3	variance	variance	NOUN
aijes-7163	186	4	analysis	analysis	NOUN
aijes-7163	186	5	in	in	ADP
aijes-7163	186	6	portfolio	portfolio	NOUN
aijes-7163	186	7	choice	choice	NOUN
aijes-7163	186	8	and	and	CCONJ
aijes-7163	186	9	capital	capital	NOUN
aijes-7163	186	10	markets	market	NOUN
aijes-7163	186	11	,	,	PUNCT
aijes-7163	186	12	basil	basil	NOUN
aijes-7163	186	13	blackwell	blackwell	NOUN
aijes-7163	186	14	10	10	NUM
aijes-7163	186	15	.	.	PUNCT
aijes-7163	187	1	merton	merton	PROPN
aijes-7163	187	2	r.c	r.c	PROPN
aijes-7163	187	3	.	.	PROPN
aijes-7163	187	4	,	,	PUNCT
aijes-7163	187	5	(	(	PUNCT
aijes-7163	187	6	1980	1980	NUM
aijes-7163	187	7	)	)	PUNCT
aijes-7163	187	8	on	on	ADP
aijes-7163	187	9	estimating	estimate	VERB
aijes-7163	187	10	the	the	DET
aijes-7163	187	11	expected	expect	VERB
aijes-7163	187	12	return	return	NOUN
aijes-7163	187	13	on	on	ADP
aijes-7163	187	14	the	the	DET
aijes-7163	187	15	market	market	NOUN
aijes-7163	187	16	"	"	PUNCT
aijes-7163	187	17	,	,	PUNCT
aijes-7163	187	18	journal	journal	NOUN
aijes-7163	187	19	of	of	ADP
aijes-7163	187	20	financial	financial	ADJ
aijes-7163	187	21	economics	economic	NOUN
aijes-7163	187	22	,	,	PUNCT
aijes-7163	187	23	8(4):323.361	8(4):323.361	NOUN
aijes-7163	187	24	,	,	PUNCT
aijes-7163	187	25	.	.	PUNCT
aijes-7163	188	1	11	11	NUM
aijes-7163	188	2	.	.	X
aijes-7163	189	1	qian	qian	PROPN
aijes-7163	189	2	,	,	PUNCT
aijes-7163	189	3	e.	e.	PROPN
aijes-7163	189	4	(	(	PUNCT
aijes-7163	189	5	2011	2011	NUM
aijes-7163	189	6	)	)	PUNCT
aijes-7163	189	7	.	.	PUNCT
aijes-7163	190	1	risk	risk	NOUN
aijes-7163	190	2	parity	parity	NOUN
aijes-7163	190	3	portfolios	portfolio	NOUN
aijes-7163	190	4	:	:	PUNCT
aijes-7163	190	5	efficient	efficient	ADJ
aijes-7163	190	6	portfolios	portfolio	NOUN
aijes-7163	190	7	through	through	ADP
aijes-7163	190	8	true	true	ADJ
aijes-7163	190	9	diversification	diversification	NOUN
aijes-7163	190	10	.	.	PUNCT
aijes-7163	191	1	panagora	panagora	PROPN
aijes-7163	191	2	asset	asset	NOUN
aijes-7163	191	3	management	management	NOUN
aijes-7163	191	4	.	.	PUNCT
aijes-7163	192	1	12	12	NUM
aijes-7163	192	2	.	.	PUNCT
aijes-7163	193	1	rockfellar	rockfellar	PROPN
aijes-7163	193	2	,	,	PUNCT
aijes-7163	193	3	r.t	r.t	PROPN
aijes-7163	193	4	.	.	PROPN
aijes-7163	193	5	,	,	PUNCT
aijes-7163	193	6	uryasev	uryasev	PROPN
aijes-7163	193	7	,	,	PUNCT
aijes-7163	193	8	s.	s.	PROPN
aijes-7163	193	9	,	,	PUNCT
aijes-7163	193	10	(	(	PUNCT
aijes-7163	193	11	2010).optimization	2010).optimization	NUM
aijes-7163	193	12	of	of	ADP
aijes-7163	193	13	conditional	conditional	ADJ
aijes-7163	193	14	value	value	NOUN
aijes-7163	193	15	ar	ar	NOUN
aijes-7163	193	16	risk	risk	NOUN
aijes-7163	193	17	,	,	PUNCT
aijes-7163	193	18	the	the	DET
aijes-7163	193	19	journal	journal	NOUN
aijes-7163	193	20	of	of	ADP
aijes-7163	193	21	risk	risk	NOUN
aijes-7163	193	22	.	.	PUNCT
aijes-7163	194	1	13	13	NUM
aijes-7163	194	2	.	.	X
aijes-7163	194	3	stefanovits	stefanovit	NOUN
aijes-7163	194	4	,	,	PUNCT
aijes-7163	194	5	d.(2010).equal	d.(2010).equal	ADJ
aijes-7163	194	6	contributions	contribution	NOUN
aijes-7163	194	7	to	to	PART
aijes-7163	194	8	risk	risk	NOUN
aijes-7163	194	9	and	and	CCONJ
aijes-7163	194	10	portfolio	portfolio	NOUN
aijes-7163	194	11	construction	construction	NOUN
aijes-7163	194	12	.	.	PUNCT
aijes-7163	195	1	master	master	NOUN
aijes-7163	195	2	thesis	thesis	NOUN
aijes-7163	195	3	,	,	PUNCT
aijes-7163	195	4	eth	eth	PROPN
aijes-7163	195	5	zurich	zurich	PROPN
aijes-7163	195	6	,	,	PUNCT
aijes-7163	195	7	33	33	NUM
aijes-7163	195	8	.	.	NOUN
aijes-7163	195	9	14	14	NUM
aijes-7163	195	10	.	.	X
aijes-7163	196	1	tasche	tasche	PROPN
aijes-7163	196	2	,	,	PUNCT
aijes-7163	196	3	d.(2000	d.(2000	PROPN
aijes-7163	196	4	)	)	PUNCT
aijes-7163	196	5	,	,	PUNCT
aijes-7163	196	6	conditional	conditional	ADJ
aijes-7163	196	7	expectation	expectation	NOUN
aijes-7163	196	8	as	as	ADP
aijes-7163	196	9	quantile	quantile	ADJ
aijes-7163	196	10	derivative	derivative	NOUN
aijes-7163	196	11	.	.	PUNCT
aijes-7163	197	1	risk	risk	NOUN
aijes-7163	197	2	contributions	contribution	NOUN
aijes-7163	197	3	and	and	CCONJ
aijes-7163	197	4	performance	performance	NOUN
aijes-7163	197	5	measurement	measurement	NOUN
aijes-7163	197	6	.	.	PUNCT
aijes-7163	198	1	preprint	preprint	NOUN
aijes-7163	198	2	,	,	PUNCT
aijes-7163	198	3	department	department	NOUN
aijes-7163	198	4	of	of	ADP
aijes-7163	198	5	mathematics	mathematics	PROPN
aijes-7163	198	6	,	,	PUNCT
aijes-7163	198	7	tu	tu	PROPN
aijes-7163	198	8	-	-	PUNCT
aijes-7163	198	9	munchen	munchen	PROPN
aijes-7163	198	10	,	,	PUNCT
aijes-7163	198	11	15	15	NUM
aijes-7163	198	12	.	.	PUNCT
aijes-7163	199	1	tirana	tirana	PROPN
aijes-7163	199	2	,	,	PUNCT
aijes-7163	199	3	k.	k.	PROPN
aijes-7163	199	4	,	,	PUNCT
aijes-7163	199	5	&	&	CCONJ
aijes-7163	199	6	bejleri	bejleri	PROPN
aijes-7163	199	7	,	,	PUNCT
aijes-7163	199	8	e.	e.	PROPN
aijes-7163	199	9	(	(	PUNCT
aijes-7163	199	10	2024	2024	NUM
aijes-7163	199	11	)	)	PUNCT
aijes-7163	199	12	.	.	PUNCT
aijes-7163	200	1	from	from	ADP
aijes-7163	200	2	origins	origin	NOUN
aijes-7163	200	3	to	to	ADP
aijes-7163	200	4	innovations	innovation	NOUN
aijes-7163	200	5	:	:	PUNCT
aijes-7163	200	6	ai	ai	VERB
aijes-7163	200	7	's	's	PART
aijes-7163	200	8	role	role	NOUN
aijes-7163	200	9	and	and	CCONJ
aijes-7163	200	10	the	the	DET
aijes-7163	200	11	cost	cost	NOUN
aijes-7163	200	12	impact	impact	NOUN
aijes-7163	200	13	on	on	ADP
aijes-7163	200	14	computer	computer	NOUN
aijes-7163	200	15	vision	vision	NOUN
aijes-7163	200	16	.	.	PUNCT
aijes-7163	201	1	agora	agora	PROPN
aijes-7163	201	2	international	international	ADJ
aijes-7163	201	3	journal	journal	NOUN
aijes-7163	201	4	of	of	ADP
aijes-7163	201	5	economical	economical	ADJ
aijes-7163	201	6	sciences	science	NOUN
aijes-7163	201	7	,	,	PUNCT
aijes-7163	201	8	18(2	18(2	NUM
aijes-7163	201	9	)	)	PUNCT
aijes-7163	201	10	,	,	PUNCT
aijes-7163	201	11	320	320	NUM
aijes-7163	201	12	-	-	SYM
aijes-7163	201	13	333	333	NUM
aijes-7163	201	14	.	.	PUNCT
aijes-7163	202	1	16	16	NUM
aijes-7163	202	2	.	.	PUNCT
aijes-7163	203	1	veliu	veliu	PROPN
aijes-7163	203	2	,	,	PUNCT
aijes-7163	203	3	d.	d.	PROPN
aijes-7163	203	4	,	,	PUNCT
aijes-7163	203	5	&	&	CCONJ
aijes-7163	203	6	aranitasi	aranitasi	NOUN
aijes-7163	203	7	,	,	PUNCT
aijes-7163	203	8	m.	m.	NOUN
aijes-7163	203	9	(	(	PUNCT
aijes-7163	203	10	2024	2024	NUM
aijes-7163	203	11	)	)	PUNCT
aijes-7163	203	12	.	.	PUNCT
aijes-7163	204	1	small	small	ADJ
aijes-7163	204	2	portfolio	portfolio	NOUN
aijes-7163	204	3	construction	construction	NOUN
aijes-7163	204	4	with	with	ADP
aijes-7163	204	5	cryptocurrencies	cryptocurrencie	NOUN
aijes-7163	204	6	.	.	PUNCT
aijes-7163	205	1	wseas	wseas	NOUN
aijes-7163	205	2	transactions	transaction	NOUN
aijes-7163	205	3	on	on	ADP
aijes-7163	205	4	business	business	NOUN
aijes-7163	205	5	and	and	CCONJ
aijes-7163	205	6	economics	economic	NOUN
aijes-7163	205	7	,	,	PUNCT
aijes-7163	205	8	21	21	NUM
aijes-7163	205	9	,	,	PUNCT
aijes-7163	205	10	686	686	NUM
aijes-7163	205	11	-	-	SYM
aijes-7163	205	12	693	693	NUM
aijes-7163	205	13	.	.	PUNCT