these concepts need patient explanation, right from what do you mean by risk, its types and how they are inter related, we explain this in-depth in our classes.
its difficult to write so much and explain it here in writing, we can solve doubts here, we cannot teach whole concepts. 

If you have seen our classes, please ask specific doubt in these 2 concepts.

See this quick explanation from one of our marathon lectures, video will start at 2:47:09 

Video will start at 4:23:38