Portfolio risk software can be a highly useful tool that substantially increases the number of investment returns you can generate in your portfolio over time.
This is something most investors don't get from their portfolio managers, yet you can purchase and run it yourself for less than a single share of stock. There is lots of software available on the internet. You can also check for the best portfolio risk management software via https://ziggma.com/portfolio-analytics-tool/.
Here is how this technique works: First, you input your current portfolio's stocks, bonds, etc. You may need to download or upload some historical market data as well. This is pretty easy and you can get most of this data for free from Yahoo Finance, Google, etc.
Once you have your current positions and historical data in the portfolio risk software, you select your universe of potential other investments available to you.
The next step depends on what you want to accomplish. If you want to create an optimized portfolio, you can tell the software to do a simulation to find the right investments to add or subtract.
Portfolio risk software can be purchased for very little investment, yet it can help generate excellent risk-adjusted returns over time and limit your losses in stressed market conditions. Software packages range depending on the type of user you are.
For the individual investor, analyst, or student, it's often best to start on the lower end. There are several tools available for Excel, or as standalone applications that can really help your investing success by providing the analytical capabilities used by well portfolio managers. If you could increase the probabilities of high returns with limited losses, it could have a tremendous effect on your retirement portfolio over long periods, even if you only get 1% extra per year.
Considering the highly effective uses and limited costs, it's well worth trying out a portfolio risk software package.