不同於傳統討論資產報酬間對稱性的文獻 (如 Ang and Chen,2002; Hong, Tu, and Zhou, 2004) 所使用的資料擷取方法, 本文利用的是分析結構改變 (structural changes) 時常被使用的方法, 即部分和(partial sum) 的方法來擷取資產報酬的尾端資料. 本文對資料的切割方法比起文獻對資料的切割方法, 對於變數的設定較少, 但仍可以得到尾端的資料來進行對稱性分析, 並且不會有得不到資料的風險存在. 在部分和的方法及 Haewkins (1987) 的 Max-Wald test 概念下, 我們發展出以 beta 為衡量資產報酬間關聯性指標時, 對稱性檢定的檢定統計量 WT. 再者, 不同於文獻在分析對稱性議題時, 多以股票報酬做新對象, 本文所分析的資產組合資料為持有債券和持有貨幣. 利用本文所提出之心的對稱性檢定概念以及美國和台灣的資料進行實證研究, 我們發現資產組合型態為持有相同國家的債券和貨幣時並不存在對稱性, 但同時持有不同國家的債券的資產組合型態則存在著對稱性. 實證結果告訴我們, 以不同國家的資產作為資產組合型態的風險是較低的.

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