{
  "as_of": "2026-10-19",
  "currency": "EUR",
  "horizon_years": "10-15",
  "input_sha256": "41439f89bf1a1d0819f2ed2bcd17943827a057eb99de7d6cc352f5f879b09e65",
  "method": "g_p = sum(w_i * (g_i + sigma_i^2/2)) - (w^T Sigma w)/2; volatility = sqrt(w^T Sigma w). Decimal units inside formulas. Approximation used by repository CMA reference. Constant weights; before product fees, transaction costs and household taxes.",
  "portfolios": {
    "US equities": {
      "weights_pct": {
        "us-large-cap": 100
      },
      "compound_return_pct": 7.000000000000001,
      "volatility_pct": 16.96
    },
    "World equities": {
      "weights_pct": {
        "ac-world-equity": 100
      },
      "compound_return_pct": 7.000000000000001,
      "volatility_pct": 15.52
    },
    "Regional equities": {
      "weights_pct": {
        "us-large-cap": 40.0,
        "euro-area-large-cap": 20.0,
        "euro-area-small-cap": 10.0,
        "japanese-equity": 20.0,
        "emerging-markets-equity": 10.0
      },
      "compound_return_pct": 7.669117377461792,
      "volatility_pct": 15.072214983460194
    },
    "60/40": {
      "weights_pct": {
        "ac-world-equity": 60.0,
        "euro-aggregate-bonds": 40.0
      },
      "compound_return_pct": 6.182992242749441,
      "volatility_pct": 10.02674580559974
    },
    "50/40/10": {
      "weights_pct": {
        "ac-world-equity": 50.0,
        "euro-aggregate-bonds": 40.0,
        "gold": 10.0
      },
      "compound_return_pct": 6.125550197990401,
      "volatility_pct": 8.603444101167858
    },
    "Strategic illustration": {
      "weights_pct": {
        "us-large-cap": 30.0,
        "euro-area-large-cap": 15.0,
        "japanese-equity": 15.0,
        "us-aggregate-bonds-hedged": 30.0,
        "gold": 10.0
      },
      "compound_return_pct": 6.99964608642644,
      "volatility_pct": 9.480119340742077
    }
  },
  "sensitivity": {
    "strategic_correlations_halfway_to_one": {
      "compound_return_pct": 6.797918743213219,
      "volatility_pct": 11.411315934516756
    },
    "strategic_all_asset_returns_minus_2pp": {
      "compound_return_pct": 4.99964608642644,
      "volatility_pct": 9.480119340742077
    }
  },
  "inputs": {
    "assets": [
      {
        "id": "us-aggregate-bonds-hedged",
        "name": "U.S. Aggregate Bonds hedged",
        "r": 5.1,
        "v": 4.75
      },
      {
        "id": "euro-aggregate-bonds",
        "name": "Euro Aggregate Bonds",
        "r": 4.3,
        "v": 4.64
      },
      {
        "id": "us-large-cap",
        "name": "U.S. Large Cap",
        "r": 7,
        "v": 16.96
      },
      {
        "id": "euro-area-large-cap",
        "name": "Euro Area Large Cap",
        "r": 6.84,
        "v": 17.56
      },
      {
        "id": "euro-area-small-cap",
        "name": "Euro Area Small Cap",
        "r": 7.4,
        "v": 18.07
      },
      {
        "id": "japanese-equity",
        "name": "Japanese Equity",
        "r": 8.6,
        "v": 15.32
      },
      {
        "id": "emerging-markets-equity",
        "name": "Emerging Markets Equity",
        "r": 7.07,
        "v": 19.41
      },
      {
        "id": "ac-world-equity",
        "name": "AC World Equity",
        "r": 7,
        "v": 15.52
      },
      {
        "id": "gold",
        "name": "Gold",
        "r": 5,
        "v": 16.15
      }
    ],
    "corr": [
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      [
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  },
  "input_periods": "September 2026 and selected second-source 2026 Q2 estimates"
}