中文摘要：

对2种风险度量方法均值-VaR模型和均值-CVaR模型进行混合.首先对在险值（VaR）和条件在险值（CVaR）具有的性质如次可加性进行论述和比较,其中在计算条件在险值（CVaR）时,同时也能得到在险值（VaR）,因此CVaR可对风险进行双限监管,比单纯的VaR更加保险;然后对均值-VaR模型和均值-CVaR模型赋予不同的权重,得出混合后的模型的相关性质,使混合后的模型在某种程度上优于单个模型的投资组合;最后对深市股票进行实证分析.

英文摘要：

This paper employs two methods of r isk measurement （ the mean-VaR model and the mean-CVaR model） ？ First of all, value at risk （VaR） and conditional value at risk （CVaR） with the properties of additivity are discussed and compared. Thereinto,when calculating the conditional value at risk （CVaR） , we can also get value at risk （VaR） . Therefore, CVaR can double limit regulate the risks, it is safer than VaR. Then different weights are given to the average-VaR model and the mean-CVaR model and related properties of the mixed mod-el are summed up. The mixed model to some extent is better than that of a single model portfolios. Finally, the Shenzhen stock is sampled for empirical analysis.