RT Journal Article SR Electronic T1 Practical Risk Analysis JF The Journal of Portfolio Management FD Institutional Investor Journals SP 73 OP 85 DO 10.3905/jpm.2003.319921 VO 30 IS 1 A1 Ananth N Madhavan A1 Jian Yang YR 2003 UL https://pm-research.com/content/30/1/73.abstract AB Once a fairly esoteric subject, risk analysis and measurement has become a critical function for both portfolio managers and traders. Yet accurate measurement and analysis of risk presents many practical challenges, including the choice of risk model, portfolio optimization pitfalls, horizon mismatches, and out-of-sample testing. This detailed overview of recent developments in risk analysis and modeling focuses on practical applications. While risk management tools can provide invaluable insights as to portfolio risk, they must be applied with considerable care. Risk analysis, as it stands today, is as much an art as a science.