---
title: Centred Expected Shortfall (CES): A Traditional Asset Manager’s View on Decomposing Downside Investment Risk
url: https://www.ml-quant.com/papers/ssrn/4519406/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-09-26
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: SSRN 4519406
source_url: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4519406
featured: 2023-07-26
citations: 0
topic: Risk, Credit & Banking
---


# Centred Expected Shortfall (CES): A Traditional Asset Manager’s View on Decomposing Downside Investment Risk

CES: The paper suggests using Centred Expected Shortfall (CES) instead of Expected Shortfall (ES) for a more precise evaluation of portfolio risk.

- Source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4519406
- Identifier: SSRN 4519406
- Released: 2023-02-16
- First featured: Quant Letter No. 9 (2023-07-26): https://www.ml-quant.com/issues/2023-07-26/
- Citations (Semantic Scholar): 0
- Published in: not yet
- Topic: Risk, Credit & Banking

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