# Windham Portfolio Advisor

## Windham Portfolio Advisor

- [Windham Portfolio Advisor Support](https://wpahelp.windhamlabs.com/master.md): Knowledge base to support the Windham Portfolio Advisor, a portfolio optimization and risk management platform for strategic asset allocation.
- [Installing the Windham Portfolio Advisor](https://wpahelp.windhamlabs.com/installation/installing-the-windham-portfolio-advisor.md): The Windham Portfolio Advisor (WPA) is a complete portfolio optimization and risk management platform that integrates cutting edge research for institutions and managers.
- [Installation Prerequisites](https://wpahelp.windhamlabs.com/installation/prerequisites.md): To manually install the Windham Portfolio Advisor's prerequisite components, please download and run the following in order.
- [Installation FAQ](https://wpahelp.windhamlabs.com/installation/installation-faq.md): Workstation installation process can be complicated, this page will address some of the probable complications that may arise from the diverse set of environments across users.
- [License Key Management](https://wpahelp.windhamlabs.com/installation/installation-faq/license-key-management.md): To review and manage the Windham Portfolio Advisor's license information, see the Advanced tab on the main screen.
- [Managing Custom Time Series](https://wpahelp.windhamlabs.com/managing-custom-time-series.md)
- [Custom Time Series Excel Add-in](https://wpahelp.windhamlabs.com/custom-time-series-excel-add-in.md): The Windham Software ships with an Excel Add-in that can be used to upload custom data to the software. This add-in requires a working copy of Microsoft Excel 2003 or later on your machine.
- [Custom Time Series Utility](https://wpahelp.windhamlabs.com/custom-time-series-utility.md): A guide for using the custom time series utility
- [Updating the Windham Time Series Database](https://wpahelp.windhamlabs.com/updating-the-windham-time-series-database.md): How and where can we get the latest updates from Windham for the Windham-managed time series database in the WPA?
- [Mixing Data Periodicities within a Case File](https://wpahelp.windhamlabs.com/mixing-data-periodicities-within-a-case-file.md): Is it possible to mix monthly and daily data within a specified case?
- [Hedged and Unhedged Time Series](https://wpahelp.windhamlabs.com/hedged-and-unhedged-time-series.md): How do we obtain a hedged or unhedged time series of asset returns?
- [Overlays](https://wpahelp.windhamlabs.com/overlays.md): What are overlay instruments?
- [Annualizing Volatility and Return](https://wpahelp.windhamlabs.com/expected-risk/annualizing-volatility-and-return.md): The WPA accounts that discrete returns are log-normally distributed.
- [Correlation](https://wpahelp.windhamlabs.com/expected-risk/correlation.md): Correlation measures the degree and direction of the co-movement between two assets.
- [Covariance](https://wpahelp.windhamlabs.com/expected-risk/covariance.md): The covariance matrix describes the magnitude of the variability in the assets' returns including direction and degree.
- [Exponential Risk](https://wpahelp.windhamlabs.com/expected-risk/exponential-risk.md): Exponentially Weighted Moving Average (EWMA)
- [Quiet and Turbulent Risk](https://wpahelp.windhamlabs.com/expected-risk/quiet-and-turbulent-risk.md): A risk model for statistically partitioning returns into regimes.
- [Series Filter](https://wpahelp.windhamlabs.com/expected-risk/series-filter.md): A conditional model for estimating expected risk and correlations.
- [Views (Risk and Correlation)](https://wpahelp.windhamlabs.com/expected-risk/views.md): The WPA allows the user to input custom views for expected risk and correlations.
- [Historical Returns](https://wpahelp.windhamlabs.com/expected-returns/historical-returns.md): Equally-weighted historical average expected return model
- [Equilibrium Returns](https://wpahelp.windhamlabs.com/expected-returns/equilibrium-returns.md): Using the Capital Asset Pricing Model for estimating returns
- [Implied Returns](https://wpahelp.windhamlabs.com/expected-returns/implied-returns.md): A reverse-optimization expected return model
- [Black-Litterman](https://wpahelp.windhamlabs.com/expected-returns/black-litterman.md): A Bayesian equilibrium expected return model
- [Blend](https://wpahelp.windhamlabs.com/expected-returns/blend-returns.md): Blending different expected return models
- [Estimating Future Value: Arithmetic or Geometric](https://wpahelp.windhamlabs.com/expected-returns/estimating-future-value.md): Why do we use the arithmetic average to estimate expected return (assuming we believe in the historical sample as a good estimator)
- [Multi-goal Optimization](https://wpahelp.windhamlabs.com/optimization/multi-goal-optimization.md): Parametric optimization models in the WPA
- [Transaction Costs and Turnover Controls](https://wpahelp.windhamlabs.com/optimization/transaction-costs-and-turnover-controls.md): How to minimize turnover from the current portfolio when constructing an optimal allocation
- [Risk Aversion](https://wpahelp.windhamlabs.com/optimization/risk-aversion.md): What is the risk aversion parameter?
- [Full-Scale Optimization](https://wpahelp.windhamlabs.com/optimization/full-scale-optimization.md): When higher moments matter
- [Simulation Methods](https://wpahelp.windhamlabs.com/simulation/simulation-methods.md): Empirical methods for risk management and wealth analysis
- [Value at Risk](https://wpahelp.windhamlabs.com/exposure-to-loss/value-at-risk.md)
- [Probability of Loss](https://wpahelp.windhamlabs.com/exposure-to-loss/probability-of-loss.md)
- [Risk Budgets](https://wpahelp.windhamlabs.com/risk-budgets/risk-budgets.md): Asset class level risk management
- [Value at Risk Sensitivities](https://wpahelp.windhamlabs.com/risk-budgets/value-at-risk-sensitivities.md): Asset class exposure impact on capital at risk
- [Windham Factors](https://wpahelp.windhamlabs.com/factor-analysis/windham-factors.md): Time series definitions for Windham's set of factors
- [Factor Analysis](https://wpahelp.windhamlabs.com/factor-analysis/factor-analysis.md): Regression and time series attribution models in the Windham Portfolio Advisor
- [Cash Flow Rules](https://wpahelp.windhamlabs.com/cash-flow-analysis/cash-flow-rules.md)
- [Distribution of Wealth](https://wpahelp.windhamlabs.com/cash-flow-analysis/distribution-of-wealth.md): Simulated cash flow analysis for wealth distributions
- [Target Wealth Probability](https://wpahelp.windhamlabs.com/cash-flow-analysis/target-wealth-probability.md): An empirical approach to evaluating cash flow goals
- [Effective Tax Rates](https://wpahelp.windhamlabs.com/misc/effective-tax-rates.md): Using tax rates on asset classes in the Windham Portfolio Advisor
- [Shadow Assets, Shadow Liabilities, and Illiquidity](https://wpahelp.windhamlabs.com/misc/shadow-assets-shadow-liabilities-and-illiquidity.md): Learn how to construct a portfolio to account for illiquidity in the Windham Portfolio Advisor.
- [Asset-liability Optimization](https://wpahelp.windhamlabs.com/misc/asset-liability-optimization.md): Learn how to think about asset-liability matching analysis in portfolio construction.