The theory of portfolio diversification has been around for many years. The

concept of diversification plays a critical role in the international context. Investors

have various options or more precisely asset class to choose on while investing in

foreign markets. Inclusion of various asset classes does not ensure efficient portfolio

diversification unless there exists negative correlations among the chosen asset class.

In the present study, equity/market indices, real estate, and commodities have been

chosen as various options for international portfolio diversification. It has been observed

not all assets bring maximize returns for portfolio. Among all the commodities chosen

gold has been found to contribute to optimal portfolio construction.

(PDF) PORTFOLIO DIVERSIFICATION AND EFFICIENT FRONTIER ON EQUITY MARKETS AND COMMODITY. Available from: https://www.researchgate.net/publication/323971548_PORTFOLIO_DIVERSIFICATION_AND_EFFICIENT_FRONTIER_ON_EQUITY_MARKETS_AND_COMMODITY [accessed Mar 29 2019].

(PDF) PORTFOLIO DIVERSIFICATION AND EFFICIENT FRONTIER ON EQUITY MARKETS AND COMMODITY. Available from: https://www.researchgate.net/publication/323971548_PORTFOLIO_DIVERSIFICATION_AND_EFFICIENT_FRONTIER_ON_EQUITY_MARKETS_AND_COMMODITY [accessed Mar 29 2019].