Συγκριτική ανάλυση αποδόσεων μετοχών, ομολόγων και εμπορευμάτων κατά τη διάρκεια bull και bear περιόδων
A comparative analysis of the returns of stocks, bonds and commodities during bull and bear market periods
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Subject
Επενδύσεις ; Μετοχές ; Investments ; Stocks ; Business cycles ; Bear markets ; Bull markets ; SpeculationAbstract
In financial instruments’ markets (stock, commodities, bonds, currency etc.) the state of the market is often described as a “bull” or a “bear”. The terms signify a rising or expected to rise market (bull) and a falling or expected to fall market (bear) respectively. During ‘bull’ phases stock prices increase and there is optimism in the market, whereas in ‘bear’ phases stock prices decline and investors adopt a more defensive stance. In the present thesis an attempt is being made to evaluate – compare major indices during bull and bear phases in a certain period of time and analyse the factors that determined these phases and correlate these with the returns of the indices. For this reason time series data for 2007 up to 2013 were collected for the following indices: S&P 500, Dax (Germany), MSCI World Index, S&P Emerging Markets BMI Index, S&P Global BMI Index, S&P Commodity Index, MSCI Commodity Index, Bloomberg US Treasury, Bloomberg Eurozone Treasury and Bloomberg World Developed Bond Index. The results of the empirical study showed how the returns, the beta coefficient and the correlation coefficient between the major indices and the benchmarks behaved in such a special period.
Postgraduate Studies Programme
Χρηματοοικονομική και Τραπεζική με κατεύθυνση στην Χρηματοοικονομική Ανάλυση για ΣτελέχηDepartment
Σχολή Χρηματοοικονομικής και Στατιστικής. Τμήμα Χρηματοοικονομικής και Τραπεζικής ΔιοικητικήςNumber of pages
96Language
Greek
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Attribution-NonCommercial-NoDerivatives 4.0 Διεθνές
Attribution-NonCommercial-NoDerivatives 4.0 Διεθνές