Decision-making of the investment portfolio applying intermarket analysis
ČlánekStatus neznámýpeer-reviewedpublishedDatum publikování
2017
Vedoucí práce
Oponent
Název časopisu
Název svazku
Vydavatel
Univerzita Pardubice
Abstrakt
The paper deals with the application possibilities of the intermarket analysis for the investment portfolio formation. The aim of this paper is to analyze how to adapt various financial market relations in order to assess the attraction of the different asset classes and taking into account it to form the investment portfolio. In the paper three different investment portfolio construction strategies have been analyzed. The first investment portfolio is formed from the decreasing financial markets, the second - from the rising financial markets, and the third portfolio includes all the financial markets. The study results showed that investing in equal proportions into stocks, bonds and commodities is more effective solution than investing in the market or in the reverse market. Including the currency into the basic portfolio has reduced the risk, but due to the declined returns the efficiency also decreased. The study results showed that the ‘permanent portfolio’ formation of the three asset classes is sufficiently effective in order to reduce investment portfolio risk and to achieve a reasonable return.
Rozsah stran
p. 16-26
ISSN
ISSN 1211-555X (Print)
ISSN 1804-8048 (Online)
ISSN 1804-8048 (Online)
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Zdrojový dokument
Scientific papers of the University of Pardubice. Series D, Faculty of Economics and Administration. 40/2017
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open access
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Klíčová slova
intermarket analysis, financial markets, stocks, bonds, commodities, currencies