Kyumin Kim’s research focuses on the impact of diversification on risk and return in the context of fishing revenues in Alaskan fishing communities. Unlike earlier studies, Kyumin adopts the principles of modern portfolio theory to analyze and elucidate the risk-return tradeoff in commercial fishing, specifically at the community level. By leveraging data from the state of Alaska, his findings reveal a significant, non-linear tradeoff between the growth of fishing revenues and the volatility of this growth within Alaskan fishing communities. Notably, the study indicates that risk decreases in correlation with an increase in the diversification of fishing permits held by these communities. Furthermore, Kyumin delves into the interdependencies between the fishing and non-fishing sectors at the community level. His investigation unveils that the economic independence of fishing communities from non-fishing sectors and the growth of employment in local economies may influence the risk dynamics in the fishing communities.