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Assume that stock market returns do not resemble a single-index structure. An investment fund analyzes 132 stocks in order to construct a mean-variance efficient portfolio constrained by 132 investments. They will need to calculate ____________ covariances.
Forward Contract
A forward contract is a customizable financial agreement between two parties to buy or sell an asset at a specified price on a future date.
Futures Contract
A legal agreement to buy or sell a particular commodity or financial instrument at a predetermined price at a specified time in the future.
Contract Price
The agreed amount of money for the exchange of goods, services, or property specified in a contract.
Initiation
The act of beginning or starting something, such as a process, project, or activity.
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