Given investment horizon of 30 days, NYSE is expected to under-perform the Republic. But the index apears to be less risky and, when comparing its historical volatility, NYSE is 2.47 times less risky than Republic. The index trades about -0.32 of its potential returns per unit of risk. The Republic Airways Holdings Inc. is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 517 in Republic Airways Holdings Inc. on April 24, 2012 and sell it today you would lose (9.00) from holding Republic Airways Holdings Inc. or give up 1.74% of portfolio value over 30 days.
Diversification
Weak diversification
Overlapping area represents amount of risk that can be diversified away by holding NYSE and Republic Airways Holdings Inc. in the same portfolio (assuming nothing else is changed)
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