PT  - JOURNAL ARTICLE
AU  - Stefano M.F.G. Cavaglia
AU  - Dimitris Melas
AU  - George Tsouderos
TI  - Cross-Industry and Cross-Country International Equity Diversification
AID  - 10.3905/joi.2000.319401
DP  - 2000 Feb 29
TA  - The Journal of Investing
PG  - 65--71
VI  - 9
IP  - 1
4099  - https://pm-research.com/content/9/1/65.short
4100  - https://pm-research.com/content/9/1/65.full
AB  - This article shows that portfolios that aim to diversify across countries and across industries provide markedly better reward-to-risk ratios than the traditional asset allocation strategies that aim to select country positions and then index local broad market indexes. Country asset allocations are distinctly different under each strategy. The results hold across nationality of investors, across alternative benchmarks, and across alternative currency hedging strategies.