Demo collections

Live, in-browser computations backing the papers.

• All roads lead to minimum variance
  One 3D picture: inverse variance, HRP, hierarchical minimum variance, HERC and NCO each descend a Schur bridge to the same floor. Switch the far end to maximum diversification or tangency, hand the recipes an estimated covariance and watch the best point move inside, or unfold HERC into its two-dial square.
• The minimum out-of-sample variance bridge
  Eleven demonstrations for When the Out-of-Sample-Optimal Schur Portfolio Lies Between HRP and Minimum Variance: the walk-forward Dow bridge, one live check per theorem, whole-matrix noise, and the sample-covariance sweep.
• Where to sit on the NCO bridge: the analytic conditions, checked live
  Four demonstrations for Nested Clustered Optimization Is One End of a Schur Bridge, and the Interior Is Sometimes Provably Better: the identical-clusters picture with its closed-form optimum, effective damping and the singular limit, and the result that only the knots move.