are cml and security market line sml the same 
the cml is sometimes confused with the security market line sml the sml is derived from the cml while the cml shows the rates of return for a specific portfolio the sml represents the market s risk and return at a given time and shows the expected returns of individual assets and while the measure of risk in the cml is the standard deviation of returns total risk the risk measure in the sml is systematic risk or beta 