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Research Article
Journal of Probability and Statistics
Volume 2017, Article ID 9594547, 1 page

Corrigendum to “Portfolio Theory for -Symmetric and Pseudoisotropic Distributions: -Fund Separation and the CAPM”

Department of Economics, University of Oslo, P.O. Box 1095, Blindern, 0317 Oslo, Norway

Correspondence should be addressed to Nils Chr. Framstad; on.oiu.noce@datsmarf.c.n

Received 7 August 2017; Accepted 5 September 2017; Published 16 October 2017

Copyright © 2017 Nils Chr. Framstad. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

In the article titled “Portfolio Theory for -Symmetric and Pseudoisotropic Distributions: -Fund Separation and the CAPM,” [1] the rescaling intended to simplify the derivation in the section titled “7. When Do We Have a Capital Asset Pricing Model?” resulted in an elementary error. The error was unnoticed because Proposition and Theorem remained mathematically correct; but, having been scaled by dispersion rather than price, the symbol ended up not being the vector of CAPM betas.

To correct this, the text “” should be deleted from the sentence “Formal differentiation yields ” in section “7. When Do We Have a Capital Asset Pricing Model?”

At the end of Proposition , the excess returns should be written for some .

Assuming the common scaling to unit price , shall read

Also, following [, ] at the end of the section, the wording is imprecise on the scale itself versus its power, the so-called covariation norm. The reader can disregard the sentence starting with “Their approach.” A more thorough treatment on this connection is given in [2].


  1. N. C. Framstad, “Portfolio theory for α-symmetric and pseudoisotropic distributions: k-fund separation and the CAPM,” Journal of Probability and Statistics, vol. 2015, Article ID 235452, 11 pages, 2015. View at Publisher · View at Google Scholar · View at MathSciNet
  2. N. C. Framstad, “Spectrally negative stable vectors, their covariations on the positive orthant, and the Capital Asset Pricing Model,” in Proceedings of the Southern Africa Mathematical Sciences Association (SAMSA '16), F. Nyabadza, S. Motsa, S. Mukwembi, and M. Chapwanya, Eds., pp. 45–57, August 2017,