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A population consists of individuals with wealth $W$. They each form a portfolio $P$ which consists of relative weights corresponding to investments in $n$ assets. So if the portfolio for some individual is $[0.1, ...., 0.1]$ with $n = 10$, then that person has invested 10 % in each asset.

Such data was gathered from a sample of people, and other characteristics of these people were written down: the time they were asked and in which part of the US they lived in (state), and their social status/living quality.

I am interested in the following question: How is the portfolio affected by the mentioned exploratory variables, if at all? And how can we give a general, probablistic description of the distribution of portfolios?

How does one do this? My issue is the weird response variable, which is a sequence of probabilities.

Barnhold
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    I did not understand whether you have time series or not ? Do the portfolios of your individuals evolve ? – LouisBBBB Feb 10 '17 at 16:55
  • Yes. The sample consisted of $N$ people, and they were asked repeatedly over a period of $M$ years at set points in time about their portfolios (and at these points, their other characteristics were also noted, to check whether they moved to a different state, or improved their living status, etc). – Barnhold Feb 10 '17 at 16:58

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