diff --git a/docs/GeneralEfficientFrontier.rst b/docs/GeneralEfficientFrontier.rst index 1a7ecbf..0165879 100644 --- a/docs/GeneralEfficientFrontier.rst +++ b/docs/GeneralEfficientFrontier.rst @@ -103,7 +103,7 @@ thought of as the average of losses that occur on "very bad days", where "very b :math:`\beta`. For example, if we calculate the CVaR to be 10% for :math:`\beta = 0.95`, we can be 95% confident that the worst-case -average daily loss will be 3%. Put differently, the CVaR is the average of all losses so severe that they only occur +average daily loss will be 10%. Put differently, the CVaR is the average of all losses so severe that they only occur :math:`(1-\beta)\%` of the time. While CVaR is quite an intuitive concept, a lot of new notation is required to formulate it mathematically (see