Table 4. Na´ve Diversification Results for Market Advisory Services, Corn Net Advisory Price.
--$/bushel-- --$/bushel-- --$/bushel--
Number of Programs in the Portfolio   Portfolio Expected Standard Deviation   Marginal Decrease in Portfolio Standard Deviation   Decrease in Risk vs. One Program Portfolio   Ratio of Portfolio Risk to Minimum Risk
--- $/bushel --- --- $/bushel --- --- percent ---
1 0.437 1.2010
2 0.402 0.0349 7.98 1.1051
3 0.390 0.0123 10.81 1.0712
4 0.383 0.0063 12.25 1.0539
5 0.379 0.0038 13.13 1.0433
6 0.377 0.0026 13.72 1.0362
7 0.375 0.0019 14.14 1.0311
8 0.374 0.0014 14.46 1.0273
9 0.373 0.0011 14.71 1.0243
10 0.372 0.0009 14.91 1.0219
11 0.371 0.0007 15.07 1.0199
12 0.370 0.0006 15.21 1.0183
13 0.370 0.0005 15.33 1.0169
14 0.369 0.0004 15.43 1.0157
15 0.369 0.0004 15.51 1.0147
16 0.369 0.0003 15.59 1.0137
17 0.368 0.0003 15.66 1.0129