{"id":2370,"date":"2019-09-12T13:33:00","date_gmt":"2019-09-12T13:33:00","guid":{"rendered":"https:\/\/analystprep.com\/cfa-level-1-exam\/?p=2370"},"modified":"2026-01-23T09:14:25","modified_gmt":"2026-01-23T09:14:25","slug":"minimum-variance-portfolios","status":"publish","type":"post","link":"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/","title":{"rendered":"Minimum-Variance Portfolios"},"content":{"rendered":"\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"VideoObject\",\n  \"name\": \"Portfolio Risk and Return \u2013 Part I (2025 Level I CFA\u00ae Exam \u2013 Portfolio Management \u2013 Module 1)\",\n  \"description\": \"This lesson covers the core concepts of Portfolio Management for the 2025 CFA\u00ae Level I exam. Topics include calculating and interpreting expected return, variance, standard deviation, covariance, correlation, and portfolio standard deviation. The video also explains diversification benefits, the efficient frontier, the global minimum variance portfolio, the role of a risk-free asset, the capital market line, and investor risk preferences, with worked examples and calculator tips to support exam readiness.\",\n  \"uploadDate\": \"2023-11-07T00:00:00+00:00\",\n  \"thumbnailUrl\": \"https:\/\/img.youtube.com\/vi\/DLKhsZvcD-c\/default.jpg\",\n  \"contentUrl\": \"https:\/\/youtu.be\/DLKhsZvcD-c\",\n  \"embedUrl\": \"https:\/\/www.youtube.com\/embed\/DLKhsZvcD-c\",\n  \"duration\": \"PT55M38S\"\n}\n<\/script>\n\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"QAPage\",\n  \"mainEntity\": {\n    \"@type\": \"Question\",\n    \"name\": \"Which statement best describes the global minimum-variance portfolio?\",\n    \"text\": \"Which statement best describes the global minimum-variance portfolio?\",\n    \"answerCount\": 1,\n    \"upvoteCount\": 0,\n    \"dateCreated\": \"2025-12-16T00:00:00+00:00\",\n    \"author\": {\n      \"@type\": \"Organization\",\n      \"name\": \"AnalystPrep\"\n    },\n    \"acceptedAnswer\": {\n      \"@type\": \"Answer\",\n      \"text\": \"The correct answer is B. The global minimum-variance portfolio represents the portfolio of risky assets that achieves the lowest possible risk (variance). It lies at the far left of the efficient frontier and does not necessarily provide the highest return.\",\n      \"dateCreated\": \"2025-12-16T00:00:00+00:00\",\n      \"upvoteCount\": 0,\n      \"url\": \"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/\",\n      \"author\": {\n        \"@type\": \"Organization\",\n        \"name\": \"AnalystPrep\"\n      }\n    }\n  }\n}\n<\/script>\n\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"ImageObject\",\n  \"url\": \"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/39a-g.png\",\n  \"caption\": \"Minimum-variance portfolios diagram\",\n  \"width\": 974,\n  \"height\": 645,\n  \"copyrightNotice\": \"\u00a9 2024 AnalystPrep\",\n  \"acquireLicensePage\": \"https:\/\/analystprep.com\/license-info\",\n  \"creditText\": \"AnalystPrep Design Team\",\n  \"creator\": {\n    \"@type\": \"Organization\",\n    \"name\": \"AnalystPrep\"\n  }\n}\n<\/script>\n\n\n\n<iframe loading=\"lazy\"\n  width=\"611\"\n  height=\"344\"\n  src=\"https:\/\/www.youtube.com\/embed\/DLKhsZvcD-c\"\n  title=\"YouTube video player\"\n  frameborder=\"0\"\n  allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\"\n  referrerpolicy=\"strict-origin-when-cross-origin\"\n  allowfullscreen>\n<\/iframe>\n\n\n\n<p>In theory, we could form a portfolio made up of all investable assets. However, this is not practical, and we must find a way to filter the investable universe. A risk-averse investor wants to find a combination of portfolio assets that minimizes risk for a given level of return.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Minimum-variance Frontier<\/strong><\/h2>\n\n\n\n<p>When constructing a portfolio, it&#8217;s important to consider both the expected return and the level of risk involved. These portfolio characteristics depend on the assets included and how they interact with each other, which is measured through correlation. To explore various investment opportunities, we adjust the allocation to each asset. Different allocations create portfolios with distinct risk and return profiles. These profiles can be visually represented on a graph, with the expected return on one axis and the standard deviation on the other. This visualization helps investors make informed decisions about their portfolios.<\/p>\n\n\n\n<p>For each level of return, the portfolio with the minimum risk will be selected by a risk-averse investor. This minimization of risk for each level of return creates a minimum-variance frontier \u2013 a collection of all the minimum-variance (minimum-standard deviation) portfolios. At a point along this minimum-variance frontier curve, there exists a minimum-variance portfolio that produces the highest returns per unit of risk.<\/p>\n\n\n\n<div style=\"margin: 20px 0;\">\n  <a href=\"https:\/\/analystprep.com\/free-trial\/\"\n     target=\"_blank\"\n     class=\"ap-cta\"\n     data-cta-text=\"Want to run efficient-frontier &#038; portfolio-variance drills\"\n     data-cta-type=\"button\"\n     data-cta-location=\"top_content\"\n     data-page-type=\"study_note\"\n     style=\"\n       display: inline-block;\n       padding: 10px 16px;\n       font-size: 14px;\n       font-weight: 600;\n       color: #0b5ed7;\n       border: 2px solid #0b5ed7;\n       border-radius: 6px;\n       text-decoration: none;\n       background-color: transparent;\n     \">\n    Want to run efficient\u2011frontier &#038; portfolio\u2011variance drills? Try AnalystPrep\u2019s free trial now.\n  <\/a>\n<\/div>\n\n\n<\/p>\n<h3><strong>Global Minimum-variance Portfolio<\/strong><\/h3>\n<p>Along the minimum-variance frontier, the left-most point is a portfolio with minimum variance when compared to all possible portfolios of risky assets. This is known as the global minimum-variance portfolio. An investor cannot hold a portfolio of risky (note: risk-free assets are excluded at this point) assets with a lower risk than the global minimum-variance portfolio.<\/p>\n<h2><strong>Efficient Frontier<\/strong><\/h2>\n<p>The portion of the minimum-variance curve that lies above and to the right of the global minimum variance portfolio is known as the Markowitz efficient frontier. It contains all portfolios that rational, risk-averse investors would choose. We can also monitor the slope of the efficient frontier, the change in units of return per unit of risk. As we move to higher levels of risk, the resulting increase in return begins to diminish. The slope begins to flatten. This means we cannot achieve ever-increasing returns as we take on more risk, quite the opposite. Investors experience a diminishing increase in potential returns as portfolio risk increases.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-10064\" src=\"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/39a-g.png\" alt=\"global-minimum-variance-portfolio\" width=\"974\" height=\"645\" srcset=\"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/39a-g.png 974w, https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/39a-g-300x199.png 300w, https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/39a-g-768x509.png 768w, https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/39a-g-400x265.png 400w\" sizes=\"auto, (max-width: 974px) 100vw, 974px\" \/><\/p>\n<blockquote>\n<h2><strong>Question<\/strong><\/h2>\n<p>Which statement <em>best describes<\/em> the global minimum-variance portfolio?<\/p>\n<p>A. The global minimum variance portfolio gives investors the highest levels of returns.<\/p>\n<p>B. The global minimum variance portfolio gives investors the lowest risk portfolio made up of risky assets.<\/p>\n<p>C. The global minimum variance portfolio lies to the right of the efficient frontier.<\/p>\n<p><strong>Solution<\/strong><\/p>\n<p>The correct answer is <strong>B<\/strong>.<\/p>\n<p>The global minimum variance portfolio lies to the far left of the efficient frontier. It is made up of a portfolio of risky assets that produces the minimum risk for an investor.<\/p>\n<\/blockquote>\n\n\n<div style=\"margin: 40px 0; padding: 30px; text-align: center; background-color: #f5f8fc; border-radius: 10px;\">\n  <a href=\"https:\/\/analystprep.com\/free-trial\/\"\n     target=\"_blank\"\n     class=\"ap-cta\"\n     data-cta-text=\"Start Free Trial\"\n     data-cta-type=\"button\"\n     data-cta-location=\"bottom_content\"\n     data-page-type=\"study_note\"\n     style=\"\n       display: inline-block;\n       padding: 14px 26px;\n       font-size: 18px;\n       font-weight: 700;\n       color: #ffffff;\n       background-color: #0b5ed7;\n       border-radius: 8px;\n       text-decoration: none;\n     \">\n    Start Free Trial \u2192\n  <\/a>\n  <p style=\"margin-top: 12px; font-size: 15px; color: #333;\">\n    Practice minimum\u2011variance &#038; portfolio\u2011optimization problems with full solutions.\n  <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In theory, we could form a portfolio made up of all investable assets. However, this is not practical, and we must find a way to filter the investable universe. A risk-averse investor wants to find a combination of portfolio assets&#8230;<\/p>\n","protected":false},"author":18,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-2370","post","type-post","status-publish","format-standard","hentry","category-portfolio-management","blog-post","no-post-thumbnail","animate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Minimum-Variance Portfolios | CFA Level 1 - AnalystPrep<\/title>\n<meta name=\"description\" content=\"Understand the concept of the global minimum-variance portfolio and its significance in investment strategy.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Minimum-Variance Portfolios | CFA Level 1 - AnalystPrep\" \/>\n<meta property=\"og:description\" content=\"Understand the concept of the global minimum-variance portfolio and its significance in investment strategy.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/\" \/>\n<meta property=\"og:site_name\" content=\"AnalystPrep | CFA\u00ae Exam Study Notes\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-12T13:33:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-01-23T09:14:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/39a-g.png\" \/>\n\t<meta property=\"og:image:width\" content=\"974\" \/>\n\t<meta property=\"og:image:height\" content=\"645\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/78444b55b561e9abfb993836133a1251\"},\"headline\":\"Minimum-Variance Portfolios\",\"datePublished\":\"2019-09-12T13:33:00+00:00\",\"dateModified\":\"2026-01-23T09:14:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/\"},\"wordCount\":492,\"image\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/39a-g.png\",\"articleSection\":[\"Portfolio Management\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/\",\"url\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/\",\"name\":\"Minimum-Variance Portfolios | CFA Level 1 - AnalystPrep\",\"isPartOf\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/39a-g.png\",\"datePublished\":\"2019-09-12T13:33:00+00:00\",\"dateModified\":\"2026-01-23T09:14:25+00:00\",\"author\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/78444b55b561e9abfb993836133a1251\"},\"description\":\"Understand the concept of the global minimum-variance portfolio and its significance in investment strategy.\",\"breadcrumb\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/#primaryimage\",\"url\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/39a-g.png\",\"contentUrl\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/39a-g.png\",\"width\":974,\"height\":645,\"caption\":\"global-minimum-variance-portfolio\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Minimum-Variance Portfolios\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/#website\",\"url\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/\",\"name\":\"AnalystPrep | CFA\u00ae Exam Study Notes\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/78444b55b561e9abfb993836133a1251\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"url\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/author\/admin\/\"}]}<\/script>\n<meta property=\"og:video\" content=\"https:\/\/www.youtube.com\/embed\/DLKhsZvcD-c\" \/>\n<meta property=\"og:video:type\" content=\"text\/html\" \/>\n<meta property=\"og:video:duration\" content=\"3339\" \/>\n<meta property=\"og:video:width\" content=\"480\" \/>\n<meta property=\"og:video:height\" content=\"270\" \/>\n<meta property=\"ya:ovs:adult\" content=\"false\" \/>\n<meta property=\"ya:ovs:upload_date\" content=\"2019-09-12T13:33:00+00:00\" \/>\n<meta property=\"ya:ovs:allow_embed\" content=\"true\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Minimum-Variance Portfolios | CFA Level 1 - AnalystPrep","description":"Understand the concept of the global minimum-variance portfolio and its significance in investment strategy.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/","og_locale":"en_US","og_type":"article","og_title":"Minimum-Variance Portfolios | CFA Level 1 - AnalystPrep","og_description":"Understand the concept of the global minimum-variance portfolio and its significance in investment strategy.","og_url":"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/","og_site_name":"AnalystPrep | CFA\u00ae Exam Study Notes","article_published_time":"2019-09-12T13:33:00+00:00","article_modified_time":"2026-01-23T09:14:25+00:00","og_image":[{"width":974,"height":645,"url":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/39a-g.png","type":"image\/png"}],"author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/#article","isPartOf":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/"},"author":{"name":"admin","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/78444b55b561e9abfb993836133a1251"},"headline":"Minimum-Variance Portfolios","datePublished":"2019-09-12T13:33:00+00:00","dateModified":"2026-01-23T09:14:25+00:00","mainEntityOfPage":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/"},"wordCount":492,"image":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/#primaryimage"},"thumbnailUrl":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/39a-g.png","articleSection":["Portfolio Management"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/","url":"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/","name":"Minimum-Variance Portfolios | CFA Level 1 - AnalystPrep","isPartOf":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/#website"},"primaryImageOfPage":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/#primaryimage"},"image":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/#primaryimage"},"thumbnailUrl":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/39a-g.png","datePublished":"2019-09-12T13:33:00+00:00","dateModified":"2026-01-23T09:14:25+00:00","author":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/78444b55b561e9abfb993836133a1251"},"description":"Understand the concept of the global minimum-variance portfolio and its significance in investment strategy.","breadcrumb":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/#primaryimage","url":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/39a-g.png","contentUrl":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2019\/10\/39a-g.png","width":974,"height":645,"caption":"global-minimum-variance-portfolio"},{"@type":"BreadcrumbList","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/portfolio-management\/minimum-variance-portfolios\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/analystprep.com\/cfa-level-1-exam\/"},{"@type":"ListItem","position":2,"name":"Minimum-Variance Portfolios"}]},{"@type":"WebSite","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/#website","url":"https:\/\/analystprep.com\/cfa-level-1-exam\/","name":"AnalystPrep | CFA\u00ae Exam Study Notes","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/analystprep.com\/cfa-level-1-exam\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/78444b55b561e9abfb993836133a1251","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&r=g","caption":"admin"},"url":"https:\/\/analystprep.com\/cfa-level-1-exam\/author\/admin\/"}]},"og_video":"https:\/\/www.youtube.com\/embed\/DLKhsZvcD-c","og_video_type":"text\/html","og_video_duration":"3339","og_video_width":"480","og_video_height":"270","ya_ovs_adult":"false","ya_ovs_upload_date":"2019-09-12T13:33:00+00:00","ya_ovs_allow_embed":"true"},"_links":{"self":[{"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/posts\/2370","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/comments?post=2370"}],"version-history":[{"count":36,"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/posts\/2370\/revisions"}],"predecessor-version":[{"id":58238,"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/posts\/2370\/revisions\/58238"}],"wp:attachment":[{"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/media?parent=2370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/categories?post=2370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/tags?post=2370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}