When studying my banking and finance degree, we were told that market risk is the same as systematic and that neither can be diversified, only unsystematic or unique risk can be diversified. However, CFA seems to conflict this, can anyone help me with the different risks that make the total risk, how they relate and how they are used to calculate Beta. For example what
Standard dev(i),(s) and (u) stand for in CFA.
Thankyou.