Vertaile menetelmiä

	Hestonin stokastinen volatiliteettimalli	Keskimääräisen tuoton ja varianssin mukainen portfolion optimointi (Markowitz)
Tieteenala	Rahoitus	Rahoitus
Menetelmäperhe	Regression model	Regression model
Syntyvuosi	1993	1952
Kehittäjä	Steven L. Heston	Harry Markowitz
Tyyppi	Continuous-time stochastic volatility model	Mean-variance optimization model
Alkuperäislähde	Heston, S. L. (1993). A Closed-Form Solution for Options with Stochastic Volatility with Applications to Bond and Currency Options. Review of Financial Studies, 6(2), 327-343.	Markowitz, H. (1952). Portfolio Selection. The Journal of Finance, 7(1), 77-91.
Rinnakkaisnimet	Heston model, SV model, continuous-time stochastic volatility, Stokastik Volatilite Modeli (Heston, SV)	Markowitz portfolio theory, modern portfolio theory, efficient frontier optimization, Ortalama-Varyans Portföy Optimizasyonu (Markowitz)
Liittyvät	5	5
Tiivistelmä	The stochastic volatility model is a continuous-time option-pricing and risk framework in which volatility follows its own random process rather than staying constant. The Heston model, introduced by Steven Heston in 1993, gives the variance a mean-reverting square-root (CIR) dynamic and yields a closed-form option price; it is the continuous-time counterpart of GARCH.	Mean-variance portfolio optimization is the foundational model of modern portfolio theory, introduced by Harry Markowitz in 1952. It describes portfolios in an expected-return versus risk (variance) plane and traces the efficient frontier of allocations that offer the highest expected return for each level of risk, covering the minimum-variance portfolio, the maximum-Sharpe-ratio portfolio, and constrained variants.