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How to Construct a Portfolio From 500 Potentially 750 Markets in the Future
One of the challenges in a program like this is actually figuring out how to construct a portfolio from these 500 potentially 750 markets. It's a tricky problem, and we all know that the correlations among markets can be unstable. So what we do is we use a tree structure for constructing the portfolio. And so the system automatically adjusts so that the volatility that we're delivering moves toward the desired level.