Guided lab · synthetic uncertainty set

What does κ actually buy you?

Move the ellipsoid radius and watch the worst-case mean penalty change the allocation. The optimizer cannot rescue invalid covariance or contaminated price history, so the failure scenario stops before optimization.

Mean uncertainty ellipse and robust objectiveAn uncertainty ellipse grows with kappa. An arrow points from nominal mean to the adverse boundary, and a two-asset allocation bar reports the robust optimum.μ̂adverse mean for wRobust allocationworst return 5.804%variance 1.093%objective 4.710%A 44.21% · B 55.79%Stage 1 of 4 · Validate the nominal mean and covariance.