how is capital allocation line cal related to cml 
the capital allocation line cal makes up the allotment of risk free assets and risky portfolios for an investor cml is a special case of the cal where the risk portfolio is the market portfolio as an investor moves up the cml the overall portfolio risk and returns increase risk averse investors will select portfolios close to the risk free asset preferring low variance to higher returns less risk averse investors will prefer portfolios higher up on the cml with a higher expected return but more variance 