"response": {
    "risk_assessment": "The portfolio exhibits moderate risk with a historical volatility of 12% annually. The Value at Risk (VaR) is calculated at 5% for a 95% confidence interval and 8% for a 99% confidence interval. The maximum drawdown observed was 15% with a recovery period of 8 months. The beta against the S&P 500 is 1.1, indicating slightly higher market sensitivity. Stress testing shows resilience in moderate downturn scenarios but vulnerability in severe market contractions.",
    "portfolio_summary": "The portfolio is composed of 60% equities, 30% fixed income, and 10% alternatives. Sector-wise, it is heavily weighted in technology (25%) and healthcare (20%), with moderate exposure to financials (15%) and consumer goods (10%). Geographic exposure is 70% developed markets and 30% emerging markets. The largest individual position is 8% of the total portfolio, indicating moderate concentration risk. Currency exposure is primarily in USD (80%), with minor exposures to EUR and JPY.",
    "performance_analysis": "The portfolio has delivered a 1-year trailing return of 10%, a 3-year annualized return of 8%, and a 5-year annualized return of 9%. Compared to the S&P 500, which returned 12% over the past year, the portfolio underperformed slightly. The Sharpe ratio is 0.8, indicating a reasonable risk-adjusted return.",
    "projected_performance": "Based on current market trends and portfolio composition, the projected 1-year return is estimated at 7%, with a 3-year annualized projection of 8%. The portfolio is expected to benefit from continued growth in technology and healthcare sectors, although potential interest rate hikes could impact fixed income returns.",
    "investment_opportunities": "Consider increasing exposure to renewable energy and technology sectors, which are expected to outperform in the coming years. Emerging markets offer growth potential, particularly in Asia. Additionally, exploring high-yield bonds could enhance income generation.",
    "rebalancing_recommendations": [
      "Reduce technology sector exposure from 25% to 20% to mitigate concentration risk.",
      "Increase fixed income allocation from 30% to 35% to enhance portfolio stability.",
      "Diversify geographic exposure by increasing emerging markets allocation from 30% to 35%.",
      "Reallocate 5% from USD to EUR to hedge against currency risk."
    ],
    "requires_immediate_attention": "No"