The capital market line always has a positive slope and its steepness depends on the market risk premium and the volatility of the market portfolio.

The capital market line is the straight line connecting the risk-free asset with the zero-beta minimum-variance portfolio.

The portfolio of risky assets with the lowest standard deviation on the efficient frontier is typically held by the least risk averse investors.

The efficient frontier indicates that different individuals hold different portfolios of risky assets based upon their individual forecasts for asset returns.