Research Article
Portfolio Selection with respect to the Probabilistic Preference in Variable Risk Appetites: A Double-Hierarchy Analysis Method
Table 5
Empirical results of the illustrated example.
| Stock codes | Weight (portfolio with a risk appetite coefficient of 0.5) | Mean | Weight (portfolio with a risk appetite coefficient of 0) | Mean |
| 000038.SZ | 0 | 0 | 0.11 | 0 | 0.04 | 0 | 0.32 | 0 | 0 | 0.53 | 0.11 | 0 | 0 | 0.1 | 0 | 0 | 0 | 0.24 | 0 | 0 | 0.66 | 0 |
| 000156.SZ | 0 | 0 | 0.13 | 0 | 0.12 | 0 | 0.32 | 0 | 0 | 0.44 | 0.04 | 0 | 0 | 0.09 | 0.02 | 0 | 0 | 0.21 | 0 | 0 | 0.68 | 0 |
| 000607.SZ | 0 | 0 | 0.14 | 0 | 0.19 | 0 | 0.32 | 0 | 0 | 0.34 | 0.05 | 0 | 0 | 0.07 | 0.05 | 0 | 0 | 0.18 | 0 | 0 | 0.69 | 0.04 |
| 000665.SZ | 0 | 0 | 0.15 | 0 | 0.27 | 0 | 0.32 | 0 | 0 | 0.25 | 0.04 | 0 | 0 | 0.06 | 0.08 | 0 | 0 | 0.15 | 0 | 0 | 0.7 | 0.21 |
| 000673.SZ | 0.09 | 0.15 | 0 | 0.04 | 0.25 | 0.08 | 0.2 | 0 | 0 | 0.18 | 0.22 | 0 | 0 | 0.05 | 0.12 | 0 | 0 | 0.12 | 0 | 0 | 0.71 | 0 |
| 000681.SZ | 0.16 | 0.28 | 0 | 0.11 | 0.12 | 0.12 | 0.02 | 0.12 | 0 | 0.07 | 0.11 | 0 | 0 | 0.04 | 0.15 | 0 | 0 | 0.09 | 0 | 0 | 0.72 | 0 |
| 000719.SZ | 0.27 | 0 | 0 | 0.21 | 0.03 | 0 | 0 | 0.16 | 0.28 | 0 | 0.15 | 0 | 0 | 0.02 | 0.18 | 0 | 0 | 0.06 | 0 | 0 | 0.73 | 0.11 |
| 000793.SZ | 0.34 | 0 | 0 | 0.02 | 0.05 | 0.31 | 0 | 0.29 | 0 | 0 | 0.06 | 0 | 0 | 0.01 | 0.21 | 0 | 0 | 0.03 | 0 | 0 | 0.74 | 0 |
| 000802.SZ | 0.25 | 0 | 0 | 0 | 0.12 | 0.57 | 0 | 0.06 | 0 | 0 | 0.03 | 0 | 0 | 0 | 0.25 | 0 | 0 | 0 | 0 | 0 | 0.75 | 0 |
| 000839.SZ | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0.18 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0.64 | ā | Weight (portfolio with a risk appetite coefficient of 1) | Mean | Weight (portfolio with a risk appetite coefficient of 0.47) | Mean |
| 000038.SZ | 0 | 0 | 0 | 0 | 0.15 | 0 | 0.25 | 0.06 | 0 | 0.55 | 0.1 | 0 | 0 | 0.27 | 0 | 0 | 0 | 0.34 | 0 | 0 | 0.39 | 0 |
| 000156.SZ | 0 | 0 | 0 | 0 | 0.24 | 0 | 0.31 | 0 | 0 | 0.45 | 0.05 | 0 | 0 | 0.2 | 0.01 | 0.05 | 0 | 0.32 | 0 | 0 | 0.41 | 0.08 |
| 000607.SZ | 0 | 0.14 | 0.05 | 0 | 0.24 | 0 | 0.28 | 0 | 0 | 0.3 | 0.04 | 0 | 0.08 | 0.19 | 0.1 | 0.01 | 0 | 0.24 | 0 | 0 | 0.39 | 0.11 |
| 000665.SZ | 0 | 0 | 0.15 | 0.04 | 0.23 | 0.08 | 0.27 | 0 | 0 | 0.23 | 0.03 | 0 | 0.12 | 0.16 | 0.17 | 0 | 0 | 0.17 | 0 | 0 | 0.39 | 0.18 |
| 000673.SZ | 0.02 | 0 | 0.22 | 0.16 | 0 | 0.13 | 0.08 | 0.09 | 0.21 | 0.1 | 0.24 | 0 | 0.15 | 0.13 | 0.24 | 0 | 0 | 0.1 | 0 | 0 | 0.38 | 0.01 |
| 000681.SZ | 0.22 | 0.26 | 0 | 0.09 | 0.1 | 0.1 | 0 | 0.2 | 0 | 0.02 | 0.16 | 0 | 0.18 | 0.1 | 0.31 | 0 | 0 | 0.03 | 0 | 0 | 0.38 | 0 |
| 000719.SZ | 0.23 | 0.05 | 0 | 0 | 0.04 | 0.39 | 0 | 0.26 | 0 | 0.03 | 0.12 | 0 | 0.25 | 0.04 | 0.35 | 0 | 0 | 0 | 0 | 0 | 0.36 | 0.12 |
| 000793.SZ | 0.25 | 0 | 0 | 0 | 0.13 | 0.43 | 0 | 0.19 | 0 | 0 | 0.08 | 0 | 0 | 0 | 0.45 | 0 | 0 | 0 | 0.1 | 0 | 0.44 | 0.17 |
| 000802.SZ | 0.24 | 0 | 0 | 0 | 0.29 | 0.45 | 0 | 0.02 | 0 | 0 | 0.02 | 0 | 0 | 0 | 0.16 | 0 | 0 | 0 | 0.56 | 0 | 0.27 | 0 |
| 000839.SZ | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0.17 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0.34 |
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