1. About income

Suppose you have 1 million yuan. When the income reaches 100%, the assets will reach 2 million yuan. If you lose 50% next, it means that your assets will return to 1 million yuan. Obviously, it is much easier to lose 50% than to earn 100%.

2. About the rise and fall

If you have 1 million yuan, the assets reach 1.1 million yuan after a 10% increase on the first day, and then the assets remain 990,000 yuan after a 10% drop on the second day. On the contrary, if the first day drops 10% and the second day rises 10%, the assets are still 990,000 yuan.

3. About volatility

If you have 1 million yuan, you earn 40% in the first year, lose 20% in the second year, earn 40% in the third year, lose 20% in the fourth year, earn 40% in the fifth year and lose 20% in the sixth year, and the remaining assets are 1.405 million yuan. The six-year annual yield is only 5.83%, even lower than the face rate of the 5-year certificate treasury bond.