{"id":3979,"date":"2008-08-25T23:50:00","date_gmt":"2008-08-25T13:50:00","guid":{"rendered":"https:\/\/moneystock.net\/wp\/?p=3979"},"modified":"2024-10-06T23:58:24","modified_gmt":"2024-10-06T13:58:24","slug":"%ec%9e%90%ec%82%b0%eb%b0%b0%eb%b6%84-%eb%b0%a9%eb%b2%95%eb%a1%a0-single-index-model","status":"publish","type":"post","link":"https:\/\/moneystock.net\/wp\/2008\/08\/%ec%9e%90%ec%82%b0%eb%b0%b0%eb%b6%84-%eb%b0%a9%eb%b2%95%eb%a1%a0-single-index-model\/","title":{"rendered":"\uc790\uc0b0\ubc30\ubd84 \ubc29\ubc95\ub860 : Single Index model"},"content":{"rendered":"\n<p>\ub9c8\ucf54\uc704\uce20\uc758 \ud3c9\uade0-\ubd84\uc0b0 \ubc29\ubc95\ub860\uc73c\ub85c \uc790\uc0b0\uc744 \ubc30\ubd84\ud558\ub294 \uacbd\uc6b0\uc5d0 \uae30\ubcf8\uc801\uc778 \ud3c9\uade0-\ubd84\uc0b0\uc758 \uae30\uc900\uc5d0 \ub300\ud574\uc11c\ub294 \uc774\uacac\uc774 \ubcc4\ub85c \uc5c6\ub2e4.\u00a0<br \/><br \/>\uadf8\ub7f0\ub370, \uac00\uc7a5 \uba3c\uc800 \uc758\uc2ec\uc774 \uac00\ub294 \ubd80\ubd84\uc740 \ud3c9\uade0-\ubd84\uc0b0 \ucd5c\uc801\ud654\ub97c \ud560 \ub54c \uc0ac\uc6a9\ub418\ub294 input data \ub4e4\uc774 \uc5ed\uc0ac\uc801 \ub370\uc774\ud130\ub97c \uc0ac\uc6a9\ud55c\ub2e4\ub294 \uc810\uc774\ub2e4. \uc989, \uacfc\uac70\uc758 \uc0ac\uac74\uc774 \ubbf8\ub798\uc5d0\ub3c4 \ubc18\ubcf5\ub41c\ub2e4\ub294 Assumption\uc774 \uae54\ub824\uc788\ub294 \uac83\uc774\ub2e4.<br \/><br \/>\uc77c\ubd80\ubd84\uc740 \ub9de\ub294 \ubd80\ubd84\ub3c4 \uc788\ub2e4. (\ub110\ub9ac \uc0ac\uc6a9\ub418\ub294 \uae30\uc220\uc801 \ubd84\uc11d\ub3c4 \uacb0\uad6d \uacfc\uac70\ub294 \ubc18\ubcf5\ub41c\ub2e4\ub294 \uc804\uc81c\ud558\uc5d0 \uc788\ub294 \uac83\uc774\uace0 \ubcf4\uba74&#8230;)<br \/><br \/>\uadf8\ub7ec\ub098, \uacfc\uac70\uc758 \uc218\uc775\ub960\uc774\ub098 \uc704\ud5d8\uc774\ub77c\ub294 \ub370\uc774\ud130\ub294 \ubbf8\ub798\uc5d0\ub3c4 \ubc18\ubcf8\uc801\uc73c\ub85c \ub098\ud0c0\ub0a0 \uc218\ub3c4 \uc788\uc9c0\ub9cc, \ubbf8\ub798\uc758 \uacbd\uc81c\ub098 \uc8fc\uc2dd\uc744 \uc6c0\uc9c1\uc774\ub294 \uadfc\ubcf8\uc801\uc778 \uc694\uc18c\ub294 \uc9c0\ub098\uac04 \uacfc\uac70\uc758 \uc5ed\uc0ac\uac00 \uc544\ub2c8\ub77c, \uadf8 \uc544\ub798\uc5d0 \uc228\uc5b4\uc788\ub294 Fundamental \uc774\ub2e4.\u00a0 \uac70\uc2dc\uacbd\uc81c\uc801\uc73c\ub85c \ubcf4\uc790\uba74, \uc18c\ube44\ub77c\ub4e0\uc9c0 \uc0dd\uc0b0\uc774\ub77c\ub4e0\uc9c0, \uc778\uad6c\uad6c\uc870\ub77c\ub4e0\uc9c0, \uae30\uc220\uc758 \ubc1c\uc804 \ub530\uc704\ub97c \uc0dd\uac01\ud560 \uc218 \uc788\uaca0\ub2e4.\u00a0<br \/><br \/>\ub530\ub77c\uc11c \uc790\uc0b0\ubc30\ubd84\uc744 \uc704\ud55c \uae30\ucd08\ub370\uc774\ud130\ub294 historical data\ub97c \ucd94\ucd9c\ud55c \ud6c4\uc5d0, \uc77c\uc815\ud55c \ubc29\ubc95\uc73c\ub85c modify\ud574\uc11c \uc0ac\uc6a9\ud558\ub294 \uac83\uc774 \ubcf4\ub2e4 \ubbf8\ub798\uc5d0 \ub300\ud55c \uc608\uce21\ub825\uc744 \ub192\uc77c \uc218 \uc788\ub2e4.<br \/><br \/>\ud3ec\ud2b8\ud3f4\ub9ac\uc624 \ubc29\ubc95\ub860\uc911 Single index model\uc740 \ub9c8\ucf54\uc704\uce20\uc758 \uc804\ud1b5\uc801\uc778 \ubc29\ubc95\ub860\uc5d0\uc11c \ud544\uc694\ub85c\ud558\ub294 \uc785\ub825\ubcc0\uc218\uac12\uc774 \ub108\ubb34\ub098 \ub9ce\uc740 \uac83\uc744 \uadf9\ubcf5\ud558\uae30 \uc704\ud574\uc11c (\uc790\uc0b0\uad70\/\uc8fc\uc2dd\uc758 \uc22b\uc790\uac00 \ub298\uc5b4\ub0a0\uc218\ub85d \uc785\ub825\ubcc0\uc218\ub294 \uae30\ud558\uae09\uc218\uc801\uc73c\ub85c \ub298\uc5b4\ub098\uba70 \uadf8\ub9cc\ud07c \uacc4\uc0b0\ub3c4 \ubcf5\uc7a1\ud574\uc9c4\ub2e4, \uc65c\ub0d0\ud558\uba74 \uac01 \uc790\uc0b0\uac04 \ubaa8\ub4e0 \uc870\ud569\uc758 \uacf5\ubd84\uc0b0\uc744 \uacc4\uc0b0\ud574\uc57c \ud558\uae30 \ub54c\ubb38\uc774\ub2e4.) \ubcf4\ub2e4 \ub2e8\uc21c\ud55c \ubc29\uc2dd\uc744 \ucc3e\uae30\uc704\ud55c \ubc29\ud3b8\uc73c\ub85c \ub098\uc628\uac83\uc774\ub2e4.<br \/><br \/>\uc2dc\uc7a5\uacfc\uc758 \ubbfc\uac10\ub3c4(\ubca0\ud0c0)\ub77c\ub294 \ud558\ub098\uc758 index\ub85c \uc790\uc0b0(\uc8fc\uc2dd)\uac04 \uc0c1\uad00\uad00\uacc4(\uacf5\ubd84\uc0b0)\ub97c \uacc4\uc0b0\ud574 \ub0b4\ub294 \ubc29\ubc95\uc744 \ucc3e\uc544\ub0b8 \uac83\uc774\ub2e4.\u00a0<br \/><br \/>\uadf8 \ubc29\ubc95\uc744 \uac04\ub2e8\ud788 \ubcf4\uba74 \ub2e4\uc74c\uacfc \uac19\ub2e4.<br \/><br \/>1. \uc2dc\uc7a5\uc9c0\uc218(\uc608\ub97c\ub4e4\uba74 \ucf54\uc2a4\ud53c)\uc758 \uae30\ub300\uc218\uc775\ub960\uacfc \uc704\ud5d8(\ud45c\uc900\ud3b8\ucc28)\ub97c \uacfc\uac70 \ub370\uc774\ud130\ub97c \ud1b5\ud574\uc11c \uc0b0\ucd9c\ud55c\ub2e4.<br \/>2. \uc2dc\uc7a5\uc9c0\uc218\uc640 \uac01 \uc790\uc0b0(\uc8fc\uc2dd)\uacfc\uc758 \ud68c\uadc0\ubd84\uc11d(OLS\ubc29\ubc95 \uc0ac\uc6a9)\uc744 \ud1b5\ud574\uc11c \uc54c\ud30c\uac12\uacfc \ubca0\ud0c0\uac12 \uadf8\ub9ac\uace0 \uc794\ucc28\uc5d0\ub7ec\uac12\uc744 \uc0b0\ucd9c\ud55c\ub2e4.<br \/>3. 2\ubc88\uc5d0\uc11c \uc0b0\ucd9c\ub41c \uac12\uc744 \uc774\uc6a9\ud574\uc11c \uac01 \uc790\uc0b0\uc758 \uae30\ub300\uc218\uc775\ub960, \ubd84\uc0b0, \uc790\uc0b0\uac04 \uacf5\ubd84\uc0b0\uc744 \uacc4\uc0b0\ud55c\ub2e4.\u00a0<br \/>4. 3\ubc88\uc5d0\uc11c \uc0b0\ucd9c\uc744 \uac12\uc744 \ud3c9\uade0-\ubd84\uc0b0 \ucd5c\uc801\ud654\uc758 \uc785\ub825\uac12\uc73c\ub85c \uc0ac\uc6a9\ud558\uc5ec efficient frontier\ub97c \ucc3e\ub294\ub2e4.\u00a0<br \/><br \/>1~3\ubc88\uae4c\uc9c0\uac00 single index model\uc758 \ubc29\ubc95\uc774\uace0, 4\ubc88\uc740 \ub9c8\ucf54\uc704\uce20\uc758 \ud3c9\uade0\ubd84\uc0b0 \ucd5c\uc801\ud654\ubc95\uc744 \uc77c\ubc18\uc801\uc778 \ubc29\uc2dd\uc73c\ub85c \uc801\uc6a9\ud558\ub294 \uac83\uc774\ubbc0\ub85c \uc0c8\ub85c\uc6b4 \uac83\uc740 \uc544\ub2cc\ub2e4.<br \/><br \/>\uc774\ub807\uac8c \ud560 \uacbd\uc6b0 \uc0b0\ucd9c\ud574\uc57c\ud560 \uc785\ub825\uac12\uc758 \uac2f\uc218\uac00 \uae30\uc874\uc758 \uc5ed\uc0ac\uc801 \ub370\uc774\ud130\ub97c \uc774\uc6a9\ud574\uc11c \uc9c1\uc811 \uc0b0\ucd9c\ud558\ub294 \uacbd\uc6b0\uc5d0\ub294 N\uac1c\uc758 \uc790\uc2e0\uc778 \uacbd\uc6b0, 2N+N(N-1)\uac1c \uc600\ub358 \uac83\uc774 3N+2\uac1c\ub85c \uc904\uc5b4\ub4e0\ub2e4.\u00a0 \uadf8\ub9cc\ud07c \uc0b0\ucd9c\ub370\uc774\ud130\ub7c9\uacfc \uacfc\uc815\uc774 \ub2e8\uc21c\ud654\ub418\uc5c8\ub2e4.<br \/><br \/>\uadf8\ub7f0\ub370 \uc774 \ubaa8\ub378\uc758 \uacb0\uacfc\uc5d0\uc11c \uc815\ub9d0 \uc911\uc694\ud55c \uac83\uc740 \uc11c\ub450\uc5d0\uc11c \ub9d0\ud55c \uac83\ucc98\ub7fc \uc804\ud1b5\uc801\uc778 \uc5ed\uc0ac\uc801 \ub370\uc774\ud130\ub97c \uc774\uc6a9\ud55c \ubc29\ubc95\ub860\uc5d0\uc11c \uc0b0\ucd9c\ub41c \ub370\uc774\ud130 \ubcf4\ub2e4, single index model\uc5d0\uc11c \uc0b0\ucd9c\ud55c \ub370\uc774\ud130\uc758 \ubbf8\ub798 \uc608\uce21\ub825\uc774 \ub354 \ub192\ub2e4\ub294 \uc5f0\uad6c\uacb0\uacfc\uac00 \uc778\uc815\ub418\uace0 \uc788\ub2e4\ub294 \uc810\uc774\ub2e4.\u00a0<br \/><br \/>\ub354 \uc2ec\ud50c\ud55c \ubc29\ubc95\uc73c\ub85c \ub354 \uc6b0\uc218\ud55c \uc608\uce21\ub825\uc744 \uac16\uac8c\ub41c \uac83\uc774\ub2e4.\u00a0<br \/><br \/>\uc608\ub97c\ub4e4\uc5b4 \ubcf4\uba74, \uc911\uad6d\ud380\ub4dc\ub97c \ud558\ub098\uc758 \uc790\uc0b0\uc73c\ub85c \ubcfc\ub54c \uacfc\uac70 \uc218\uc775\ub960\uacfc \uc704\ud5d8 \uadf8\ub9ac\uace0, \ub2e4\ub978 \ud380\ub4dc(\ud55c\uad6d, \ubbf8\uad6d)\uacfc\uc758 \uacf5\ubd84\uc0b0\uc744 \uacc4\uc0b0\ud558\uc5ec \uadf8 \uac12\uc73c\ub85c \uc790\uc0b0\ubc30\ubd84\uc744 \uc218\ud589\ud588\uc744 \ub54c \ubcf4\ub2e4,<br \/><br \/>\uc911\uad6d, \ud55c\uad6d, \ubbf8\uad6d\ud3b8\ub4dc\uc640 MSCI World Index(\uc138\uacc4\uc9c0\uc218)\uc640\uc758 \ubbfc\uac10\ub3c4\ub97c \uc0b0\ucd9c\ud55c\ud6c4 \uadf8 \uac12\uc73c\ub85c \ub2e4\uc2dc \uac01 \uad6d\uac00\ubcc4 \uae30\ub300\uc218\uc775, \uc704\ud5d8, \uacf5\ubd84\uc0b0\uc744 \uc0b0\ucd9c\ud558\uc5ec \uc790\uc0b0\ubc30\ubd84\ud558\ub294 \uac83\uc774 \ubcf4\ub2e4 \uc608\uce21\ub825\uc774 \ub192\ub2e4, \uc989 \uc6b0\uc218\ud55c \uc131\uacfc\uac00 \uae30\ub300\ub41c\ub2e4\ub294 \uac83\uc774\ub2e4.\u00a0<br \/><br \/>\uc0ac\uc2e4 \uc790\uc0b0\ubcc4 \uc218\uc775\ub960\uacfc \uc704\ud5d8\uc758 \uc608\uce21\uc774\ub77c\ub294 \uac83\uc740 \ub108\ubb34\ub098 \uc911\uc694\ud55c \ubb38\uc81c\ub77c\uc11c, \uadf8 \uac12\uc5d0 \ub530\ub77c\uc11c \uc790\uc0b0\ubc30\ubd84 \ube44\uc911\uc758 \uacb0\uacfc\ub294 \uc644\uc804\ud788 \ub2ec\ub77c\uc9c0\uac8c \ub41c\ub2e4.\u00a0 \uc989, \uc544\ubb34\ub9ac \uc815\uad50\ud55c \ubaa8\ub378\uc744 \uc4f0\ub354\ub77c\ub3c4 Garbage in, garbage out \uc989, \uc798\ubabb\ub41c \ub370\uc774\ud130\ub97c \ub123\uc73c\uba74 \uc798\ubabb\ub41c \uacb0\uacfc\uac00 \ub098\uc62c \ubfd0\uc774\ub77c\ub294 \uac83\uc774\ub2e4.\u00a0<br \/><br \/>\uc9c0\uae08\uae4c\uc9c0 \uc774\uc57c\uae30\ud55c single index model\uc758 \uacbd\uc6b0 \uc2dc\uc7a5\uc9c0\uc218\uc640 \uac1c\ubcc4\uc790\uc0b0(\uc8fc\uc2dd)\uac04\uc758 \ubbfc\uac10\ub3c4 \uc989, \ubca0\ud0c0\uac00 \uc720\uc77c\ud55c \uc694\uc18c(single index)\uc774\uae30 \ub54c\ubb38\uc5d0 \uc774\uac83\uc740 \uc0b0\ucd9c\uc740 \ub9e4\uc6b0 \uc911\uc694\ud560 \ud150\ub370, \ub530\ub77c\uc11c \ubca0\ud0c0\uc758 \ucd94\uc815 \uc5ed\uc2dc, \uc5ed\uc0ac\uc801 \ub370\uc774\ud130\ub97c \ud65c\uc6a9\ud55c \ucd94\ucd9c\uc774\ud6c4\uc5d0 bias \ub41c \uac12\uc744 adjust\ud558\uae30 \uc704\ud55c \ubc29\ubc95\ub860\uc774 \ucd94\uac00\uc801\uc73c\ub85c \uac1c\ubc1c\ub418\uc5c8\ub2e4.<br \/><br \/>Blume&#8217;s method\uc640 Vasicek&#8217;s method\uac00 \uadf8\uac83\uc774\ub2e4.\u00a0 \uc774\ub7ec\ud55c \uc870\uc815\uc774 \ud544\uc694\ud55c \uc774\uc720\ub294 \ucd94\uc815\ub41c \ubca0\ud0c0\uac12\uc774 positive\uc778 \uacbd\uc6b0\uc5d0\ub294 \uc591\uc758 \ucd94\uc815\uc624\ucc28 \ub54c\ubb38\uc77c \uac00\ub2a5\uc131\uc774 \ub192\uace0, \uadf8 \ubc18\ub300\ub3c4 \ub9c8\ucc2c\uac00\uc9c0\ub2e4.\u00a0<br \/><br \/>\ub530\ub77c\uc11c \uc774\ub7ec\ud55c overestimated \ub418\ub294 \ud604\uc0c1\uc744 \uc870\uc815\ud558\ub294 \uac83\uc774 bias\ub97c \uc904\uc77c \uc218 \uc788\ub2e4\ub294 \uac83\uc774\ub2e4.<br \/><br \/>Blume&#8217;s method\ub294 \uc5ed\uc0ac\uc801 \ubca0\ud0c0\uac12\uc740 \ud3c9\uade0\uc73c\ub85c \uc218\ub834\ud558\ub294 \ud604\uc0c1\uc774 \uc788\ub2e4\ub294 \uac83\uc5d0 \ucc29\uc548\ud558\uc5ec, b2 = 0.343 + 0.677b1 \uc774\ub77c\ub294 \uc218\uc2dd\uc744 \ucc3e\uc544\ub0c8\uc73c\uba70, \uc2f1\uae00 \uc778\ub371\uc2a4 \ubaa8\ub378\uc5d0\uc11c \uc0b0\ucd9c\ub41c \ubca0\ud0c0\ub97c \uc774 \uc2dd\uc73c\ub85c \ud55c\ubc88 \uc870\uc815\ud558\uba74 \uc218\uc815\ub41c \ubca0\ud0c0\uac12\uc774 \ub098\uc624\uba70 \uc774\uac83\uc740 \uae30\uc874\uc758 \ubca0\ud0c0\uac12\uc744 \ubcf4\ub2e4 1\uc5d0 \uac00\uae5d\ub3c4\ub85d \ub9cc\ub4e4\uc5b4 \uc900\ub2e4.<br \/><br \/>Vasicek&#8217;s method\ub294 \uc0ac\uc7a5\ud3c9\uade0\ubca0\ud0c0\uc758 \ubd84\uc0b0\uacfc \uac1c\ubcc4\uc790\uc0b0\ubca0\ud0c0\uc758 \ubd84\uc0b0\uac12\uc758 \ube44\uc911\uc744 \uacc4\uc0b0\ud558\uc5ec \uadf8 \ube44\uc911\uc5d0 \ub530\ub77c \uac1c\ubcc4\uc790\uc0b0\uc758 \uc5ed\uc0ac\uc801 \ubca0\ud0c0\uc640 \uc2dc\uc7a5\ud3b8\uade0\ubca0\ud0c0\uac04\uc758 \uac00\uc7a5\ud3c9\uade0\uac12\uc73c\ub85c\uc11c \uc218\uc815\ub41c \ubca0\ud0c0\uac12\uc744 \uc0b0\ucd9c\ud558\ub294 \ub2e4\uc18c \ubcf5\uc7a1\ud55c \ubc29\ubc95\uc744 \uc0ac\uc6a9\ud55c\ub2e4.<br \/><br \/>\uacb0\ub860\uc801\uc73c\ub85c\ub294 Vasicek&#8217;s method\uac00 \ub2e8\uc21c \uc5ed\uc0ac\uc801\ubca0\ud0c0\ubcf4\ub2e4\ub294 \uc608\uce21\ub825\uc774 \ub6f0\uc5b4\ub098\uba70, Blume\uc758 \ubc29\ubc95\ubcf4\ub2e4\ub3c4 \uc870\uae08\ub354 \uc608\uce21\ub825\uc774 \ub6f0\uc544\ub09c, \uc989 \uac00\uc7a5 \uc6b0\uc218\ud55c \ubc29\ubc95\uc73c\ub85c \uc54c\ub824\uc9c0\uace0 \uc788\ub2e4.\u00a0<br \/><br \/>\uadf8\uc678\uc5d0\ub3c4 \uc5ed\uc0ac\uc801 \ubca0\ud0c0\uac00 \uc544\ub2cc Fundamental Beta\ub77c\ub294 \ubc29\ubc95\uc774 \uc788\uc9c0\ub9cc \uac1c\ubcc4\uae30\uc5c5\uc758 \uc7ac\ubb34\uc815\ubcf4\ub97c \uc774\uc6a9\ud55c \uc774 \ubc29\ubc95\uc740 \uc2e4\uc81c\uc801\uc6a9\uc5d0 \uc788\uc5b4\uc11c \ub2e4\uc18c \uc5b4\ub824\uc6c0\uc774 \uc788\ub2e4.\u00a0<br \/><br \/>\uc790\uc0b0\ubc30\ubd84\uc744 \uc704\ud55c \uc785\ub825\uac12\uc744 \uc0b0\ucd9c\ud558\uae30 \uc704\ud574\uc11c \uc2dc\uc7a5\uc608\uce21\uac12\uc73c\ub85c \ubcf4\uc815\uc744 \ud55c\ub2e4\ub4e0\uc9c0, \uc2dc\uc7a5\uc758 \uc790\uc0b0\uac00\uce58\ube44\uc911\uc5d0 \ub530\ub77c\uc11c \uc548\ubd84\ud55c\ub2e4\ub4e0\uc9c0 \ud558\ub294 \ubc29\ubc95\ub4e4\ub3c4 \uc788\uc9c0\ub9cc \uc774\uac83\uc5d0 \ub300\ud55c \ub17c\uc758 \ub9cc\ud07c\uc740 \uc815\ub2f5\uc774 \uc5c6\uc744\ub4ef \uc2f6\ub2e4.\u00a0 \ud558\uc9c0\ub9cc \ub9ce\uc740 \ud559\uc790\ub4e4\uc758 \uc5f0\uad6c\ub355\ubd84\uc5d0 \ubcf4\ub2e4 \uc608\uce21\ub825\uc774 \ub192\uc740 \ubc29\ubc95\ub860\uc774 \uac1c\ubc1c\ub418\uace0 \uc788\ub2e4\ub294 \uc810\uc740 \ub9e4\uc6b0 \ud765\ubbf8\ub86d\ub2e4.<\/p>\n<div class=\"autosourcing-stub-extra\">\u00a0<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\ub9c8\ucf54\uc704\uce20\uc758 \ud3c9\uade0-\ubd84\uc0b0 \ubc29\ubc95\ub860\uc73c\ub85c \uc790\uc0b0\uc744 \ubc30\ubd84\ud558\ub294 \uacbd\uc6b0\uc5d0 \uae30\ubcf8\uc801\uc778 \ud3c9\uade0-\ubd84\uc0b0\uc758 \uae30\uc900\uc5d0 \ub300\ud574\uc11c\ub294 \uc774\uacac\uc774 \ubcc4\ub85c \uc5c6\ub2e4.\u00a0 \uadf8\ub7f0\ub370, \uac00\uc7a5 \uba3c\uc800 \uc758\uc2ec\uc774 \uac00\ub294 \ubd80\ubd84\uc740 \ud3c9\uade0-\ubd84\uc0b0 \ucd5c\uc801\ud654\ub97c \ud560 \ub54c \uc0ac\uc6a9\ub418\ub294 input data \ub4e4\uc774 \uc5ed\uc0ac\uc801 \ub370\uc774\ud130\ub97c \uc0ac\uc6a9\ud55c\ub2e4\ub294 \uc810\uc774\ub2e4. \uc989, \uacfc\uac70\uc758 \uc0ac\uac74\uc774 \ubbf8\ub798\uc5d0\ub3c4 \ubc18\ubcf5\ub41c\ub2e4\ub294 Assumption\uc774 \uae54\ub824\uc788\ub294 \uac83\uc774\ub2e4. \uc77c\ubd80\ubd84\uc740 \ub9de\ub294 \ubd80\ubd84\ub3c4 \uc788\ub2e4. (\ub110\ub9ac \uc0ac\uc6a9\ub418\ub294 \uae30\uc220\uc801 \ubd84\uc11d\ub3c4 \uacb0\uad6d \uacfc\uac70\ub294 \ubc18\ubcf5\ub41c\ub2e4\ub294 \uc804\uc81c\ud558\uc5d0 \uc788\ub294 \uac83\uc774\uace0 \ubcf4\uba74&#8230;) \uadf8\ub7ec\ub098,&hellip; <a class=\"more-link\" href=\"https:\/\/moneystock.net\/wp\/2008\/08\/%ec%9e%90%ec%82%b0%eb%b0%b0%eb%b6%84-%eb%b0%a9%eb%b2%95%eb%a1%a0-single-index-model\/\">Continue reading <span class=\"screen-reader-text\">\uc790\uc0b0\ubc30\ubd84 \ubc29\ubc95\ub860 : Single Index model<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1986,1984,1988,1994],"class_list":["post-3979","post","type-post","status-publish","format-standard","hentry","category-finance","tag-asset-allocation","tag-single-index-model","tag-1988","tag-1994","entry"],"_links":{"self":[{"href":"https:\/\/moneystock.net\/wp\/wp-json\/wp\/v2\/posts\/3979","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moneystock.net\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/moneystock.net\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/moneystock.net\/wp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/moneystock.net\/wp\/wp-json\/wp\/v2\/comments?post=3979"}],"version-history":[{"count":1,"href":"https:\/\/moneystock.net\/wp\/wp-json\/wp\/v2\/posts\/3979\/revisions"}],"predecessor-version":[{"id":3980,"href":"https:\/\/moneystock.net\/wp\/wp-json\/wp\/v2\/posts\/3979\/revisions\/3980"}],"wp:attachment":[{"href":"https:\/\/moneystock.net\/wp\/wp-json\/wp\/v2\/media?parent=3979"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/moneystock.net\/wp\/wp-json\/wp\/v2\/categories?post=3979"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/moneystock.net\/wp\/wp-json\/wp\/v2\/tags?post=3979"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}