The effect of portfolio size

I did some tests to see the effect on the total volatility in the portfolio by reducing the number of stocks I hold. The small test gives some indications to not have a very concentrated portfolio (below 10 stocks) . When testing a lot of timeframes with 10 stocks or less, the volatility in performance and randomness are very high.

Here is my EU portfolio:

Here is my US Canada portfolio:

Im not sure there seem to be a big difference between the US vs. EU.


What currency are you testing with?

USD and EUR (on EU portfolio)