Differentiate between (a) Stand-alone risk (b) Risk in a portfolio context. How are they measured, and are

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Differentiate between
(a) Stand-alone risk
(b) Risk in a portfolio context. How are they measured, and are both concepts relevant for investors?

Portfolio
A portfolio is a grouping of financial assets such as stocks, bonds, commodities, currencies and cash equivalents, as well as their fund counterparts, including mutual, exchange-traded and closed funds. A portfolio can also consist of non-publicly...
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