Which of the following is not true? A systematic risk is the risk that affects the market as a whole, whereas unsystematic risk is a risk that is specific to a given company or industry. A "diversification" in investment context generally refers to the practice of investing in multitude of firms, industries, etc. to mitigate the risks associated with investing in non-riskfree assets. The unsystematic risk (that is, rather than the systematic risk) that represents the risks associated with only a specific firm, group of firms, or industry. None of the above (all of the above are correct statements)