Hi,

My study is based on markowitz optimization (mean variance model). My aim is to minimize the risk in an average income I have set. I found 1-year returns and variances from the monthly earnings of 30 company shares. I have specified Max and min (excel on page 4). I created 30 to 30 covariance matrix. Target function consists of covariance and share weights. One of the constraints is that all weights are equal to 1. The other constraint consists of weights and stock returns (equal to a value between max and min return). The problem is that the excel solver does not find the weights correctly.

Thank you

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