Link single‑asset stats to the whole basket: compute portfolio expectedreturn, variance, covariance matrix, correlation, and shortfall risk—withstep‑by‑step examples.

Turn uncertainty into pictures: expected value, variance, probability trees,total‑probability rule, and Bayes’ formula for updating forecasts when newdata arrive.

Build your stats toolkit: mean, median, mode, quantiles, variance, standarddeviation, skew, kurtosis—plus an intro to covariance and correlation—so youcan summarise any return distribution with confidence.

1. Present vs. future value with any compounding frequency
2. Solving bond YTM & equity growth from TVM equations
3. Spot & forward rate links that kill trick questions fast

• Contrast required, discount & opportunity‑cost rates
• Build a nominal rate from real Rf + inflation + risk premia
• Master HPR, arithmetic vs. geometric mean & money‑ vs. time‑weighted return