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R-squared

The r-squared statistic measures the degree to which a collection of observations is explained by a line drawn through the middle of the points. In equity portfolio analysis, the r-squared is used as a measure of the level of diversification of a portfolio. An r-squared between .95 and 1.00 indicates a highly diversified portfolio. An r-squared between .90 and .95 indicates a reasonably well diversified portfolio. An r-squared between .80 and .90 is not well diversified. An r-squared less than .80 indicates a highly undiversified portfolio.

Real rate of return

The real rate of return is the rate of return in excess of the inflation rate.

Rebalancing

Rebalancing is the process of resetting the asset allocation of a balanced portfolio to a predetermined level. For example if a 50/50 equity bond allocation was initially chosen and over time the mix had shifted to 55/45. The portfolio would be rebalanced by selling off just under one tenth of the stocks and using the proceeds to purchase bonds.

Recession

A recession is an economic period when the total amount of goods and services produced during a given period is less that the amount produced during a previous period. Recessions are usually marked by rising unemployment, falling demand for goods and declining interest rates. A recession differs from a depression in that recessions respond to monetary stimulation and depressions do not.

Relative return

Relative return refers to the difference between a manager's or fund's return and a benchmark index.

Repurchase agreement

A repurchase agreement is a type of cash equivalent transaction. Under this type of contract, the investor or lender takes title to a long bond which the borrower agrees to buy back in a day or a few days at a predetermined price, which represents repayment of the principle plus interest. Therefore, the investor has a bond as collateral without any market price risk.

Restrict stock

Restricted stock consists of shares given to insiders at the time a stock goes public (or later upon a board action) but which cannot be registered for sale to the general public for a period of time, usually two years, to prevent any fraudulent manipulation of the price of a new stock.

Reversion to the mean

Reversion to the mean is a theory that there exists some underlying central "correct" valuation for securities prices. From time to time prices will depart from that value, but ultimately most drift back to that central or mean level. There is no statistical evidence to support the existence of such an effect.

Revocable trust

A trust in which the creator reserves the right to modify or terminate the trust.

Risk

Risk is the possibility or probability of not achieving a required rate of return.

Risk-averse

Refers to the assumption that rational investors will choose the security with the least risk if they can maintain the same return. As the level of risk goes up, so must the expected return on the investment.

Rollover

A method by which an individual can transfer the assets from one retirement program to another without the recognition of income for tax purposes. The requirements for a rollover depend on the type of program from which the distribution is made and the type of program receiving the distribution.

   
 

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