213

 

 ,       -
     ,     . 8. II.

.=2%

^ ()   

4%			
	>^-/\		
9%	^- ^		> 12
2%		1	2/
	5% 1	3	/


12%

''>2%
"^
10%     as<=-1%

	'" ()   		
		?	3
1%			
7%			
			>8%
			 
1%'	5%		--1%0%

. 8.11.     



   ,     /,   
   ,    : (I)  ( )
 (market risk)', (2)  ( )  (unique risk}. 
, ,2   :

(8.8)

 /      , ;/ ,  -
    /,  2      /, 
     ( )   (8.3).

8.4.1   

        ,    -
         ,  -
  ?    ,     /
  ,   ^,      -
   :

/-. =!>,'-, .                                         (8.9)

    (8.3)  /-,   (8.9),  
  :

S 1197