In the article the diversification of production, which is a component of the production process changes the control object. Studied targets that are characteristic of vertical and horizontal diversification.

The stages of the methodology of choosing the optimal portfolio structure. Specified rational relationship between diversification and specialization of agricultural enterprises. Determined that the common goals for all areas of diversification is to consolidate investment resources, reduce risks of uncertainty of the environment; orientations to ensure social and economic stability; preserving regional branch complexes; more efficient use of all resources; obtain synergies from the market growth potential; reduce transaction costs.

Objectives specified characteristic conglomerate diversification:

Highlight active, protective, adaptive and reactive system stability, based on the criterion of the nature of interaction between the system and the environment.

Specifies that diversification is the process of organizational change in the form of active, preventive and adaptive development aimed at improving the competitiveness of products and enterprises

It is known that the methodology assess the feasibility of diversification at the enterprise level requires a comprehensive economic analysis and financial statements.

It is established that the diversification of agricultural production in terms of the process, defined as the change of the production program management facility to produce quality and safe products. Changes in production profile.

The influence of related diversification of production activities of agricultural enterprises in their competitiveness through the use of synergies, which manifests itself in the optimization of production program, reduction of conventionally fixed costs and gives a price competitive advantage.

Agricultural enterprises asked to focus primarily on the use of the established production capacity and develop on this basis to develop projects related diversification.

Established method of selecting the optimal portfolio structure, which involves passing three stages: defining a set of assets, indices of profitability indicators interdependence between assets; Detection of aggregate portfolio of many of the most effective (ie, "effective border portfolio"); selection of the optimal combination of assets for selected criteria.

As is known, the composition of the optimal portfolio is traditionally determined by building investor or indifference curves by modeling risk-free asset with a given level of profitability.

The actual problem is the transformation of portfolio analysis so that the optimal portfolio selection was carried out for the long term

Specifies that the formation of the optimal portfolio by economic criteria and Vince Sharpe will enable synthetic method used in the short and long-term forecasts, which are characterized by high uncertainty, but have the option projected yield.

After bringing Vince models in terms of "yield-risk" taking into account that the long-term effectiveness of portfolio optimization criterion defined function (utility commercial portfolio) takes the form

It studied economy Vasilkovskaja, Volodarskohota Stavischanskaya areas, which have a high potential aggregate agricultural production and the average level of economic risk.

Optimization of the product portfolio by product selected households we studied for the Sharpe ratio is used to measure the level of risk in the investment portfolio and determines the ratio of the excess portfolio returns without risky rate to the standard deviation of its return. Thus, the higher the Sharpe ratio,

Algorithms "optimal f» RalfaVinsa – optimal proportion of capital that must be reinvested, allowing you to identify the most effective methods of dynamic capital management, which provide opportunity to support the competitiveness of enterprises surveyed.

The results lead to the conclusion that the investigated companies need to optimize the industrial structure so as to minimize risk at reasonable levels of profitability that will ensure economic stability and basic and extended play.

In order to study areas to diversify the production structure as a means of protection against new risks and increase adaptability of industrial activity agricultural enterprises should be used methodical approaches to the diagnosis of the economic portfolio

Thus, in the process of optimizing economic portfolio approach discussed above can be offered such products for enterprises to successfully manage risks in unfavorable periods and ensure sustainable development for him. Thus, in the process of optimizing economic portfolio approach discussed above can be offered such products for enterprises to successfully manage risks in unfavorable periods and ensure sustainable development for him. However, reasonable limits the ability of enterprise strategy in the strategic plan because they do not form the potential for intense growth and expansion, and thus necessitates finding areas of economic expansion of the portfolio in order to implement growth strategies.

It should be noted that the methodology of portfolio analysis and construction of efficient portfolio limits collectively realizes the idea of scenario approach and stress tests based on the covariance matrices to calculate profitability taken all possible profitability of products to choose rational combinations of particles. In order to develop scenarios simply needs to choose one or more activities to the portfolio on the basis of peer review, recipes on the number of selected additional activities can not exist.

Key words: diversification, agrarian enterprises, conglomerative diversification, portfolio analysis, production program.