---
title: Address Challenges Markowitz (1952) Faces: A New Measure of Asset Risk
url: https://www.ml-quant.com/papers/ssrn/4506410/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-09-26
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: SSRN 4506410
source_url: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4506410
featured: 2023-07-12
citations: 0
topic: Derivatives & Volatility
---


# Address Challenges Markowitz (1952) Faces: A New Measure of Asset Risk

The article challenges the traditional concept of asset risk, arguing that it's the asset risk that causes volatility, not vice versa, and volatility doesn't necessarily decrease asset value.

- Source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4506410
- Identifier: SSRN 4506410
- Released: 2023-07-11
- First featured: Quant Letter No. 7 (2023-07-12): https://www.ml-quant.com/issues/2023-07-12/
- Citations (Semantic Scholar): 0
- Published in: not yet
- Topic: Derivatives & Volatility

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