
prathikoolamaaya apakadasaadhyatha

nashtavumaayi bandhapetta saambathika apakadasaadhyathayaan poraayma. athaayath, yadhaartha varumanam pratheekshicha varumaanathil thazheyaayirikkaanulla apakadasaadhyathayo allengil aaa vyathyaasathinte vyaapthiyekkurichulla anishchithathvamo aanu.
risk nadapadikal saadhaaranayaayi downside risk alakkunnu, athesamayam staanderd deviation (deviation risk alavinte oru udaaharanam) mukalilekkum thaazhekkum ulla risk alakkunnu. prathyekichum, downside risk onnukil downside beetta upayogicho allengil kuranja semi-deviation alakkunnathiloodeyo alakkaan kazhiyum. lakshyathin thaazheyulla semi-deviation" allengil "taargett semi-deviation" (tii. ezz. vii) enna sthithivivarakkanakku vyavasaya nilavaaramaayi maari.
charithram.
oru nikshepakante lakshyam thante/avalude apakadasaadhyatha kuraykkuka ennathaanu ennu karuthiya royiyaan (1952) aadyam prathikoolamaaya apakadasaadhyatha roopappeduthiyathu. eee sharashari-samathvamo allengil prathikoolamaaya apakadasaadhyathayo aaya model "sephtti-phastt" technic ennum ariyappedunnu, koodaathe prathekshikkunna varumaanathinte thaazhnna staanderd vyathiyanangal maathrame nokkunnulloo, avaa nashtasaadhyathayaan. haari marcovits sharashari-vyathiyana sidhaantham vikasippichukondirunna athe samayathaan ithu. marcovits polum, thante sharashari-vyathiyana sidhaanthathekkaal "ardha-vyathiyaanamaan apakadasaadhyathayude kooduthal vishwasaneeyamaaya alavu" ennu prasthaavichu. pinneedu 1970-ll, ettu vyavasayangalil ninnulla executiveukalodu apakadasaadhyathayekkurichulla nirvachanathekkurichu chodicha niravadhi focus grouppukal nadatthi, athinte falamaayi ardha-vyathiyaanam saadhaarana vyathiyaanathekkaal mikacha soochakamaanu. thudarnnu, mooladhana vipani moolyangalude saidhaanthika vishakalanathiloode, portfolio risk alakkunnathinayi staanderd semidiviation staanderd deviation pakaramaayi maattisthaapikkumbol 'kyaapittal-asattu prising modalinte' adisthaana ghadana nilanirthumennu hogan vaaranum theliyichu."aalukal apakadasaadhyathayaayi kaanunnath shariyaayi prathifalippikkunnathina saadhaarana beettaykku pakaram, apakadasaadhyatha alakkunna downside beetta ulppeduthunnathiloode cap maattaamenn ithu kaanikkunnu. 1980kalude thudakkam muthal doow. staanderd deviationekkaal nikshepa apakadasaadhyathayude mikacha alavukol enna nilayil downside risk enna aupachaarika nirvachanam frank sortino vikasippicheduthu, downside risk risk maanejmentinte vyavasaya nilavaaramaayi mariyirikkunnu.
prathikoolamaaya apakadasaadhyatha virudhamaayi. mooladhana aasthi vilanirnaya maathruka.
suraksha vitharanangal saadhaaranamallaathathum samaanathayillathathumaanu ennathinaal prathikoolavum vipareethavumaaya apakadasaadhyatha verthirichariyunnathu pradhaanamaan. ithu mooladhana aasthi vilanirnaya maathruka (capm) anumaanikkunnathil ninnu vyathyasthamaan suraksha vitharanangal samamithiyaanennum athinaal oru aasthiyude poraymayum thalakeezhaayulla beettakalum onnuthanneyaanennum. nikshepa varumaanathin saadhaaranamallaatha vitharanamullathinaal, vaasthavathil nettathekkaal nashtatthinulla saadhyatha vyathyasthamaan. nashtatthinte saadhyatha oru nikshepathinte prathikoola apakadasaadhyathayil allengil varumaana vitharanathinte thaazhnna bhaagath prathifalikkunnu. ennirunnaalum, capmill athinte apakadasaadhyathayude kanakkukoottalil vitharanathinte rund pakuthikalum ulppedunnu. ekkaaranathaal, cappine maathram aashrayikkaathirikkuka mathramalla, nashtatthinte vyaapthiyekkurichulla apakadasaadhyathayaaya prathikoola vasha apakadasaadhyathayum nettatthinte vyaapthiyekkurichulla apakadasaadhyathayum thammil verthirichariyaan nirnaayakamaanennu vaadikkappettittundu. padanangal soochippikkunnathu "staanderd beettayude moonnil rund bhaagavum prathikoolamaaya apakadasaadhyathaye kurachukaanum."