Normal random variable

Normal random variable

Normal random variable

A random variable that has a normal probability distribution.

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Normal portfolio

Normal portfolio

Normal portfolio

A customized benchmark that includes all the securities from which a manager normally chooses, weighted as the manager would weight them in a portfolio.

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Nonsystematic risk

Nonsystematic risk

Nonsystematic risk

Nonmarket or firm-specific risk factors that can be eliminated by diversification. Also called unique risk or diversifiable risk. Systematic risk refers to risk factors common to the entire economy.

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Nonrefundable

Nonrefundable

Nonrefundable

Not permitted, under the terms of indenture, to be refundable.

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Nonredeemable

Nonredeemable

Nonredeemable

Not permitted, under the terms of indenture, to be redeemed.

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