Thank you.How about the insensitivity towards correlation?Best,R.

<t>The spread of a CDO tranche depends on the correlation. However, if the tranche is 0-100% (= index), the spread does no longer depend on correlation.It is reasonable to assume that a homogeneous portfolio, of say 100 names with individual spread s, will imply a 0-100% 'tranche' to price with a sp...

Hi Mac,Could you send me a version, too (rghigliaus@yahoo.com)?Thank you very much,Best,R.