I-Minimum Variance Portfolio Inkcazo, iSicwangciso kunye neMimiselo
Ngaba uyazi ukuba kuthetha ukuthini iphothifoliyo encinane? Ingavakala isicatshulwa kodwa lo mzekelo wendlela yokwenza i-portfolio iyakunceda ukwandisa iindleko ngexesha lokunciphisa ingozi, eyona njongo yokugqibela yabatyalo-mali abahlakaniphile nabanempumelelo kakhulu. Eyona nto ibaluleke kakhulu, akunzima ukuyisebenzisa ukuba uyazi ukuba isebenza njani.
Ukuba unokwakha iipotifoliyo encinci, ungaphumelela kwiziphumo ezilungileyo ngaphandle kokuthatha umngcipheko omkhulu.
Yinto enjalo "yenza ikhekhe yakho kwaye uyidle" isicwangciso kwihlabathi lokutshala imali.
Yiyiphi i-Portfolio Minimum?
Iphothifoliyo encinci yeyona nto i-portfoliyo yee-securities ezidibeneyo ukunciphisa ukunyuka kwexabiso kwipotfoliyo jikelele. Ukutshatyalaliswa kwezinto, okuyigama eliqhelekileyo elisetyenziselwa ukutshintshela kuluntu-mali, ngumlinganiselo wenkalo yokhuseleko oluthile lokunyuka kwentengo (ups and downs).
Ukutshatyalaliswa kokutsalwa kwetyalo-mali kuya kutshintshana kwintsikelelo kunye nengozi yayo yemarike. Ngoko ke, ukukhululeka kokutshala imali (ngokubanzi ukunyuka kwehla kunye nokuhla kwinqanaba), ukuphakama komngcipheko.
Ngoko ke, ukuba utyalomali ufuna ukunciphisa umngcipheko, nabo bafuna ukunciphisa ukuphakama nokuhla.
Indlela yokwakha i-Portfolio Minimum Variance
Iphothifoliyo, kwihlabathi lotyalo-mali, ichaza ngokubanzi isetyenzisi sezobalo-mali ezigcinwe kwiakhawunti enye okanye udibaniso lweziqinisekiso kunye neengxelo ezithathwe ngumtyalomali omnye.
Ngoko, ukwakha iipotfoliyo ezincinci, utyalo-mali uzakufuna ukudibanisa utyalo-mali oluthile okanye ukuhlanganiswa kotyalo-mali oluchanekileyo kunye nokulungiswa okuphantsi komnye nomnye. Iphothifoliyo yokugqibela iqhelekileyo ngokumalunga nokusekwa kweepfoliyoli ezincinci.
Utyalo-mali olunobungozi obuphantsi lunokuchazwa njengalezo ezenza ngokwahlukileyo (okanye ubuncinci ngokufanayo) zinikwe enye imarike kunye nezoqoqosho.
Lo ngumzekelo obalaseleyo wokungafani. Xa umtyali-zimali ehlula iipotifoliyo, bafuna ukunciphisa ukungabi nantoni kwaye oku kusisiseko sophothifoliyo encinci-iipotifoliyo ezahlukahlukeneyo.
Imizekelo engezantsi yePortfolio
Mhlawumbi umzekelo olula kakhulu wepotfoliyo encinane, udibaniso lwe-stock mutual fund kunye ne-bond joint fund. Xa amaxabiso esitokhwe senyuka, ixabiso lentengo linokuthi libe lincinci ukuya kumbi; kanti, xa amaxabiso esitokisi ewa, ixabiso lentengo lihlala likhula. Amasheya kunye nezibophelelo azivami ukuhamba ngendlela echaseneyo kodwa banokulungelelanisa kakhulu ngokwemigangatho yokusebenza.
Ukusebenzisa isicwangciso-mali esincinane sepotfoliyo ngokubanzi, umtyalo-mali unokudibanisa i-asethi eneengozi okanye iintlobo zotyalo-mali kunye kunye nokufikelela kwimilinganiselo ephakamileyo ephezulu ngaphandle kokuthatha ingozi ephezulu.
Ngokomzekelo, ukuba umtyalo-mali uthatha ukubamba iintlobo ezintathu zokutsalwa kweentlobo-mali, ezifana ne-US-cap-cap stocks, i-US stock-caps stocks, kunye neemarike ezikhulayo, ngasinye esinomngcipheko ophezulu kunye neembali zexabiso eliguquguqukayo. ukulungelelaniswa okuphantsi komnye nomnye, ekuhambeni kwexesha kunokudala ukungahambisani okufutshane kunye neepotifoliyo equkethe ipesenti ezili-100 zeyiphi na ezo zintathu iintlobo zotyalo-mali.
Isilinganiselo esithile esithile esetyenzisiweyo ukubonisa ukulungiswa kotyalo-mali oluthile kunye nolunye utyalo-mali lubizwa ngokuba yi- R-squared okanye i-R2 . Ngokugqithiseleyo, i-R-squared isekelwe ekulungiseni kwi-index engundoqo, njengeS & P 500 . Ngokomzekelo, ukuba u-R-squared utshalomali ngu-0.97, ithetha i-97 ekhulwini yeendleko zokunyuka kwexabiso (ukuphakama nokuhla kwintsebenzo) ichazwa ngokunyakaza kwisahlu. Ukunciphisa ukungazinzi kwiphothifoliyo, okanye ukunciphisa ukuhlukahluka ngokungafani, umnini-zimali ophethe i-S & P 500 yenkxaso-mali ye-joint fund ufuna ukufumana utyalo-mali olongezelelweyo kunye ne-R2 ephantsi, okanye engahambelani kakhulu noluhlu.
Isishwankathelo, iipotifoliyo ezincinci zingabamba iintlobo zotyalo-mali ezingazinzileyo xa zibamba ngabanye kodwa xa zibambisana zidala iipotifoliyo ezahlukahlukeneyo ezinokungabi nantliziyo ephantsi kunanoma yiphi na indawo.
I-potifoliyo yokuncincika kweyona nto iyakunciphisa ukutshatyalaliswa kokubanzi kunye nentlawulo-mali nganye eyongeziweyo kuyo, nangona ukuba utyalo-mali ngabanye luyingozi kwiimeko.
Umzekelo omncinci wePortfolio Portfolio
Umzekelo omhle wokulandelelana ekwakheni iipotifoliyo ezincinci zingabonakaliswa ngokusebenzisa iindidi zengxowa-mali ezidibeneyo ezinokubambisana kakhulu. Lo mzekelo ulandela isakhiwo sephothifoliyo yesiseko kunye nesatellite :
- Ipesenti ze-S & P 500 Index Index
- Amakethi aMakethe aPhakamileyo ama-20
- Ipesenti ye-Small-Cap Cap Fund
- Ipesenti yeeNgxowa-mali ezingama-30 zeepesenti
Izintlu zokuqala ezintathu zeengxowa-mali zizinzileyo kodwa zonke ezine zilungelelaniso. Ngaphandle kweengxowa-mali zebhondi, ukuhlanganiswa kwazo zonke ezine kunye nokunyaniseka okuphantsi kunokuba nayiphi na umntu ngamnye.
Ukuziphendulela: Ulwazi olukule ndawo lunikezelwa ngeenjongo zengxoxo kuphela, kwaye akufanele lichazwe ngokungeniswa njengeengcebiso zotyalo-mali. Ngaphandle kweemeko ngaba le nkcazelo ibonisa isincomo sokuthenga okanye ukuthengisa iziqinisekiso.