Portfolio optimization is a term that can be understood as a problem whose main object is to encounter the most appropriate way to allocate the assets so that maximum returns and the smallest variability can be obtained (Garg & Deep, 2019). Markowitz first introduced the mean variance model in which the risk of the model is defined as the variance of the returns and nowadays many optimization portfolio studies are encountered in the literature (
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.