标题： 推进投资组合优化：自适应最小方差投资组合和最小风险率框架 显示英文标题

标题： Advancing Portfolio Optimization: Adaptive Minimum-Variance Portfolios and Minimum Risk Rate Frameworks

摘要： 本研究提出了自适应最小方差投资组合（AMVP）框架和自适应最小风险率（AMRR）指标，这些创新工具旨在动态优化波动性和非平稳金融市场的投资组合。 与传统的最小方差方法不同，AMVP框架通过先进的计量经济模型实现实时适应性，包括ARFIMA-FIGARCH过程和非高斯创新。 对加密货币和股权市场的实证应用展示了所提出框架在降低风险和提高投资组合稳定性方面的优越性能，特别是在市场结构断裂和波动性加剧的时期。 研究结果强调了使用AMVP和AMRR方法应对现代投资挑战的实际意义，为在不确定和快速变化的市场条件下进行投资管理提供了可操作的见解。 显示英文摘要

摘要： This study presents the Adaptive Minimum-Variance Portfolio (AMVP) framework and the Adaptive Minimum-Risk Rate (AMRR) metric, innovative tools designed to optimize portfolios dynamically in volatile and nonstationary financial markets. Unlike traditional minimum-variance approaches, the AMVP framework incorporates real-time adaptability through advanced econometric models, including ARFIMA-FIGARCH processes and non-Gaussian innovations. Empirical applications on cryptocurrency and equity markets demonstrate the proposed framework's superior performance in risk reduction and portfolio stability, particularly during periods of structural market breaks and heightened volatility. The findings highlight the practical implications of using the AMVP and AMRR methodologies to address modern investment challenges, offering actionable insights for portfolio managers navigating uncertain and rapidly changing market conditions.