Diversifiable risk on the other hand, is margin of the company or industry and hence can be eliminated by diversification. Diversifiable risk is also called as unsystematic risk or specific risk.
Example of non- diversifiable or market risk factors: Major change in tax rates, war and other calamities, an increase or decrease in inflation rates, a change in economic / environmental policy, industrial recession, an increase in international oil prices etc.
Example of diversifiable or specific risk factor: Strike in company, Bankruptcy of a major supplier, death / Resignation of key company officer, unexpected entry of new competitor into the market, etc.
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