diff --git a/CHANGELOG.md b/CHANGELOG.md
index 159f20c24..72595e388 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -7,6 +7,11 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## Unreleased
 
+### Added
+
+- Set up the language localization for the static portfolio analysis rule: _Asset Class Cluster Risks_ (Equity)
+- Set up the language localization for the static portfolio analysis rule: _Asset Class Cluster Risks_ (Fixed Income)
+
 ### Changed
 
 - Changed `node main` to `exec node main` in the `entrypoint.sh` file to improve the container signal handling
diff --git a/apps/api/src/app/portfolio/portfolio.service.ts b/apps/api/src/app/portfolio/portfolio.service.ts
index aed8e0acb..6a580f42f 100644
--- a/apps/api/src/app/portfolio/portfolio.service.ts
+++ b/apps/api/src/app/portfolio/portfolio.service.ts
@@ -1280,10 +1280,14 @@ export class PortfolioService {
               [
                 new AssetClassClusterRiskEquity(
                   this.exchangeRateDataService,
+                  this.i18nService,
+                  userSettings.language,
                   Object.values(holdings)
                 ),
                 new AssetClassClusterRiskFixedIncome(
                   this.exchangeRateDataService,
+                  this.i18nService,
+                  userSettings.language,
                   Object.values(holdings)
                 )
               ],
diff --git a/apps/api/src/app/user/user.service.ts b/apps/api/src/app/user/user.service.ts
index 46b46bce2..161d490d7 100644
--- a/apps/api/src/app/user/user.service.ts
+++ b/apps/api/src/app/user/user.service.ts
@@ -272,10 +272,14 @@ export class UserService {
         {}
       ).getSettings(user.Settings.settings),
       AssetClassClusterRiskEquity: new AssetClassClusterRiskEquity(
+        undefined,
+        undefined,
         undefined,
         undefined
       ).getSettings(user.Settings.settings),
       AssetClassClusterRiskFixedIncome: new AssetClassClusterRiskFixedIncome(
+        undefined,
+        undefined,
         undefined,
         undefined
       ).getSettings(user.Settings.settings),
diff --git a/apps/api/src/models/rules/asset-class-cluster-risk/equity.ts b/apps/api/src/models/rules/asset-class-cluster-risk/equity.ts
index b386f3e18..704cfdb85 100644
--- a/apps/api/src/models/rules/asset-class-cluster-risk/equity.ts
+++ b/apps/api/src/models/rules/asset-class-cluster-risk/equity.ts
@@ -1,6 +1,7 @@
 import { RuleSettings } from '@ghostfolio/api/models/interfaces/rule-settings.interface';
 import { Rule } from '@ghostfolio/api/models/rule';
 import { ExchangeRateDataService } from '@ghostfolio/api/services/exchange-rate-data/exchange-rate-data.service';
+import { I18nService } from '@ghostfolio/api/services/i18n/i18n.service';
 import { PortfolioPosition, UserSettings } from '@ghostfolio/common/interfaces';
 
 export class AssetClassClusterRiskEquity extends Rule<Settings> {
@@ -8,9 +9,12 @@ export class AssetClassClusterRiskEquity extends Rule<Settings> {
 
   public constructor(
     protected exchangeRateDataService: ExchangeRateDataService,
+    private i18nService: I18nService,
+    languageCode: string,
     holdings: PortfolioPosition[]
   ) {
     super(exchangeRateDataService, {
+      languageCode,
       key: AssetClassClusterRiskEquity.name
     });
 
@@ -40,26 +44,39 @@ export class AssetClassClusterRiskEquity extends Rule<Settings> {
 
     if (equityValueRatio > ruleSettings.thresholdMax) {
       return {
-        evaluation: `The equity contribution of your current investment (${(equityValueRatio * 100).toPrecision(3)}%) exceeds ${(
-          ruleSettings.thresholdMax * 100
-        ).toPrecision(3)}%`,
+        evaluation: this.i18nService.getTranslation({
+          id: 'rule.assetClassClusterRiskEquity.false.max',
+          languageCode: this.getLanguageCode(),
+          placeholders: {
+            equityValueRatio: (equityValueRatio * 100).toPrecision(3),
+            thresholdMax: (ruleSettings.thresholdMax * 100).toPrecision(3)
+          }
+        }),
         value: false
       };
     } else if (equityValueRatio < ruleSettings.thresholdMin) {
       return {
-        evaluation: `The equity contribution of your current investment (${(equityValueRatio * 100).toPrecision(3)}%) is below ${(
-          ruleSettings.thresholdMin * 100
-        ).toPrecision(3)}%`,
+        evaluation: this.i18nService.getTranslation({
+          id: 'rule.assetClassClusterRiskEquity.false.min',
+          languageCode: this.getLanguageCode(),
+          placeholders: {
+            equityValueRatio: (equityValueRatio * 100).toPrecision(3),
+            thresholdMin: (ruleSettings.thresholdMin * 100).toPrecision(3)
+          }
+        }),
         value: false
       };
     }
-
     return {
-      evaluation: `The equity contribution of your current investment (${(equityValueRatio * 100).toPrecision(3)}%) is within the range of ${(
-        ruleSettings.thresholdMin * 100
-      ).toPrecision(
-        3
-      )}% and ${(ruleSettings.thresholdMax * 100).toPrecision(3)}%`,
+      evaluation: this.i18nService.getTranslation({
+        id: 'rule.assetClassClusterRiskEquity.true',
+        languageCode: this.getLanguageCode(),
+        placeholders: {
+          equityValueRatio: (equityValueRatio * 100).toPrecision(3),
+          thresholdMax: (ruleSettings.thresholdMax * 100).toPrecision(3),
+          thresholdMin: (ruleSettings.thresholdMin * 100).toPrecision(3)
+        }
+      }),
       value: true
     };
   }
@@ -78,7 +95,10 @@ export class AssetClassClusterRiskEquity extends Rule<Settings> {
   }
 
   public getName() {
-    return 'Equity';
+    return this.i18nService.getTranslation({
+      id: 'rule.assetClassClusterRiskEquity',
+      languageCode: this.getLanguageCode()
+    });
   }
 
   public getSettings({ baseCurrency, xRayRules }: UserSettings): Settings {
diff --git a/apps/api/src/models/rules/asset-class-cluster-risk/fixed-income.ts b/apps/api/src/models/rules/asset-class-cluster-risk/fixed-income.ts
index 918856c45..e0ca92311 100644
--- a/apps/api/src/models/rules/asset-class-cluster-risk/fixed-income.ts
+++ b/apps/api/src/models/rules/asset-class-cluster-risk/fixed-income.ts
@@ -1,6 +1,7 @@
 import { RuleSettings } from '@ghostfolio/api/models/interfaces/rule-settings.interface';
 import { Rule } from '@ghostfolio/api/models/rule';
 import { ExchangeRateDataService } from '@ghostfolio/api/services/exchange-rate-data/exchange-rate-data.service';
+import { I18nService } from '@ghostfolio/api/services/i18n/i18n.service';
 import { PortfolioPosition, UserSettings } from '@ghostfolio/common/interfaces';
 
 export class AssetClassClusterRiskFixedIncome extends Rule<Settings> {
@@ -8,9 +9,12 @@ export class AssetClassClusterRiskFixedIncome extends Rule<Settings> {
 
   public constructor(
     protected exchangeRateDataService: ExchangeRateDataService,
+    private i18nService: I18nService,
+    languageCode: string,
     holdings: PortfolioPosition[]
   ) {
     super(exchangeRateDataService, {
+      languageCode,
       key: AssetClassClusterRiskFixedIncome.name
     });
 
@@ -40,26 +44,39 @@ export class AssetClassClusterRiskFixedIncome extends Rule<Settings> {
 
     if (fixedIncomeValueRatio > ruleSettings.thresholdMax) {
       return {
-        evaluation: `The fixed income contribution of your current investment (${(fixedIncomeValueRatio * 100).toPrecision(3)}%) exceeds ${(
-          ruleSettings.thresholdMax * 100
-        ).toPrecision(3)}%`,
+        evaluation: this.i18nService.getTranslation({
+          id: 'rule.assetClassClusterRiskFixedIncome.false.max',
+          languageCode: this.getLanguageCode(),
+          placeholders: {
+            fixedIncomeValueRatio: (fixedIncomeValueRatio * 100).toPrecision(3),
+            thresholdMax: (ruleSettings.thresholdMax * 100).toPrecision(3)
+          }
+        }),
         value: false
       };
     } else if (fixedIncomeValueRatio < ruleSettings.thresholdMin) {
       return {
-        evaluation: `The fixed income contribution of your current investment (${(fixedIncomeValueRatio * 100).toPrecision(3)}%) is below ${(
-          ruleSettings.thresholdMin * 100
-        ).toPrecision(3)}%`,
+        evaluation: this.i18nService.getTranslation({
+          id: 'rule.assetClassClusterRiskFixedIncome.false.min',
+          languageCode: this.getLanguageCode(),
+          placeholders: {
+            fixedIncomeValueRatio: (fixedIncomeValueRatio * 100).toPrecision(3),
+            thresholdMin: (ruleSettings.thresholdMin * 100).toPrecision(3)
+          }
+        }),
         value: false
       };
     }
-
     return {
-      evaluation: `The fixed income contribution of your current investment (${(fixedIncomeValueRatio * 100).toPrecision(3)}%) is within the range of ${(
-        ruleSettings.thresholdMin * 100
-      ).toPrecision(
-        3
-      )}% and ${(ruleSettings.thresholdMax * 100).toPrecision(3)}%`,
+      evaluation: this.i18nService.getTranslation({
+        id: 'rule.assetClassClusterRiskFixedIncome.true',
+        languageCode: this.getLanguageCode(),
+        placeholders: {
+          fixedIncomeValueRatio: (fixedIncomeValueRatio * 100).toPrecision(3),
+          thresholdMax: (ruleSettings.thresholdMax * 100).toPrecision(3),
+          thresholdMin: (ruleSettings.thresholdMin * 100).toPrecision(3)
+        }
+      }),
       value: true
     };
   }
@@ -78,7 +95,10 @@ export class AssetClassClusterRiskFixedIncome extends Rule<Settings> {
   }
 
   public getName() {
-    return 'Fixed Income';
+    return this.i18nService.getTranslation({
+      id: 'rule.assetClassClusterRiskFixedIncome',
+      languageCode: this.getLanguageCode()
+    });
   }
 
   public getSettings({ baseCurrency, xRayRules }: UserSettings): Settings {
diff --git a/apps/client/src/app/pages/i18n/i18n-page.html b/apps/client/src/app/pages/i18n/i18n-page.html
index 20fa23f9a..6ffd5b011 100644
--- a/apps/client/src/app/pages/i18n/i18n-page.html
+++ b/apps/client/src/app/pages/i18n/i18n-page.html
@@ -28,6 +28,35 @@
       <li i18n="@@rule.accountClusterRiskSingleAccount.true">
         Your net worth is managed by $&#123;accountsLength&#125; accounts
       </li>
+      <li i18n="@@rule.assetClassClusterRiskEquity">Equity</li>
+      <li i18n="@@rule.assetClassClusterRiskEquity.false.max">
+        The equity contribution of your current investment
+        ($&#123;equityValueRatio&#125;%) exceeds $&#123;thresholdMax&#125;%
+      </li>
+      <li i18n="@@rule.assetClassClusterRiskEquity.false.min">
+        The equity contribution of your current investment
+        ($&#123;equityValueRatio&#125;%) is below $&#123;thresholdMin&#125;%
+      </li>
+      <li i18n="@@rule.assetClassClusterRiskEquity.true">
+        The equity contribution of your current investment
+        ($&#123;equityValueRatio&#125;%) is within the range of
+        $&#123;thresholdMin&#125;% and $&#123;thresholdMax&#125;%
+      </li>
+      <li i18n="@@rule.assetClassClusterRiskFixedIncome">Fixed Income</li>
+      <li i18n="@@rule.assetClassClusterRiskFixedIncome.false.max">
+        The fixed income contribution of your current investment
+        ($&#123;fixedIncomeValueRatio&#125;%) exceeds $&#123;thresholdMax&#125;%
+      </li>
+      <li i18n="@@rule.assetClassClusterRiskFixedIncome.false.min">
+        The fixed income contribution of your current investment
+        ($&#123;fixedIncomeValueRatio&#125;%) is below
+        $&#123;thresholdMin&#125;%
+      </li>
+      <li i18n="@@rule.assetClassClusterRiskFixedIncome.true">
+        The fixed income contribution of your current investment
+        ($&#123;fixedIncomeValueRatio&#125;%) is within the range of
+        $&#123;thresholdMin&#125;% and $&#123;thresholdMax&#125;%
+      </li>
       <li i18n="@@rule.emergencyFundSetup">Emergency Fund: Set up</li>
       <li i18n="@@rule.emergencyFundSetup.false">
         No emergency fund has been set up