Risk is to talk about the benefits of playing rogue! SHARP ratio to help you choose the fund-running man20130526

Risk is to talk about the benefits of playing rogue! SHARP ratio to help you choose the fund company Sina fund exposure platform: letter Phi lag behind false propaganda, the performance of long-term lower than similar products, how to buy funds pit? Click [I want to complain], Sina help you expose them! Bear trading room last week, the fund’s partial stock products for nearly four years of the annual yield of inventory, selected the best performance of the proceeds of the fund’s 10 companies. However, the risk of loss of income, or only the reference to the rate of return to choose funds and fund companies, like the purchase of goods only to see the price but ignore its performance on the merits, is not scientific. Therefore, if we want to evaluate the performance of the fund companies more scientifically, we must introduce the risk adjusted returns. One of the most commonly used indicators is the SHARP ratio (Sharpe ratio). SHARP ratio = (portfolio expected return – risk-free interest rate) portfolio standard deviation, which reflects the risk of each investor can receive a unit of the yield can be obtained. In this paper, the introduction of the SHARP ratio is only to evaluate the performance of the fund company, so in the following calculations are assumed risk-free rate of 0. Over 80% fund companies, SHARP ratio less than 1 cattle bear trading room (niuxiong2016) statistics of the fund’s partial stock products nearly four years of SHARP ratio, satisfy the statistical conditions (since September 5, 2012 has announced net product) there are 67 fund companies, the distribution is as follows. Figure 1: the fund manager of SHARP ratio distribution (source: CBBC trading room, Juyuan financial terminal) the distribution map shows that most (56) fund company SHARP ratio below 1, accounting for 83.58%. And more than half of the fund’s SHARP ratio is distributed in the range of 0.6-0.8. And SHARP ratio reached 1 or more fund companies only about 11. The gold fund SHARP ratio nance Niuxiong trading room (niuxiong2016) sorting out the past four years SHARP ratio of the top ten fund companies, are listed in the following table. Table 1: fund manager SHARP ratio TOP10 (source: cattle bear trading room, poly source financial terminal), which the state fund’s partial shares of the highest proportion of SHARP products, up to 1.81. Golden State’s partial shares of the fund are only two, launched for Golden State (762001.OF) and China Guoxin Jin Xin (501000.SH). The new scale of China’s Jin Xin less than 10 million, so the National Gold Fund’s SHARP ratio is mainly reflected in the country’s gold and silver launched this product performance. Last week, the CBBC trading room (niuxiong2016) has conducted a detailed analysis of the fund in the article, not going to repeat it here. The fund manager Xu Yanfang also because of the success in the stock market crash escape operation while the gains of the annual yield of champions. Cattle bear trading room (niuxiong2016) believes that more typical fund companies are ranked second in the SHARP Galaxy fund. Its management has 27 partial stock funds (different share Statistics), the size of the product has reached 17 billion 557 million. Compared to the national fund, a single argument相关的主题文章: