Table 5. Na´ve Diversification Results for Market Advisory Services, Soybean Net Advisory Price.
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 0.7510 1.1641
2 0.7001 0.0509 6.78 1.0851
3 0.6823 0.0178 9.15 1.0575
4 0.6732 0.0091 10.36 1.0434
5 0.6677 0.0055 11.10 1.0349
6 0.6640 0.0037 11.59 1.0292
7 0.6613 0.0027 11.94 1.0250
8 0.6593 0.0020 12.21 1.0220
9 0.6577 0.0016 12.42 1.0195
10 0.6565 0.0012 12.58 1.0176
11 0.6555 0.0010 12.72 1.0160
12 0.6546 0.0009 12.83 1.0147
13 0.6539 0.0007 12.93 1.0136
14 0.6533 0.0006 13.01 1.0126
15 0.6527 0.0005 13.08 1.0118
16 0.6523 0.0005 13.15 1.0110
17 0.6518 0.0004 13.20 1.0104