NO.PZ2018110601000004
问题如下：
Richard, a junior financial analyst, lists the following asset class specifications.
Equity: US equities and non-US equities
Debt: US investment-grade corporate bonds and real estate
Derivatives: mainly the small-cap domestic equities
As you are Richard’s supervisor, you notice the correlation on asset class returns on equity and derivatives is 0.95, while the asset class returns on debt have a very low correlation with equity and derivative returns.
The asset class specifications for equity and derivatives are incorrect because:
选项：
A.asset classes should be diversifying
B.asset classes should be mutually exclusive
C.asset within an asset class should be relatively homogeneous.
解释：
A is correct.
考点：asset class的分类原则
解析：为了控制风险，资产类型之间的相关性不应当过高。相关性大了，分散化效果就会变差。题干中说equity 和derivatives之间的相关性系数为0.95，所以违反了diversifying这个分类原则。
辅导员您好，除了硬记有提及高correlation就选‘diversifying'相关选项（即A）这个方法之外，我还是不明白为什么不选B。
我认为题目就是定义了他认为的derivatives（即小盘国内股）。那么：1. 如果小盘国内股指的是美国国内，那么这个就是和Equity定义里的US equity重合了（应该选B）；如果”小盘国内股“指的是他本国的（非美国）市场，那么这个小盘股就属于Equity定义里的non-US equity，也是重合了。因为没有mutually exclusive，所以应该选B啊。谢谢指点！
