不能很好的理解CFA考試知識點怎么能做對考題呢？今天我們來說說CFA一級中的組合管理中的CML和SML的對比，這也是難點之一。今天給你分析一下！

CML和SML的對比

Unsystematuc risk and systematic risk

Unsystematuc risk :The risk that can be eliminated by diversification,also called unique,diversifiable ,firm-specific risk

systematic risk: The left risk that can not be diversified away

 Systematic Risk is Relevant in Portfolios
One important conclusion of capital market theory:
Equilibrium security returns = systematic risk, not its total risk as measured by standard deviation.
Unsystematic risk is not compensated
One of the assumptions of the model: Diversification is free.