1. Ukuqonda i-Sharpe Ratio
Ehlabathini forex, crypto, yaye CFD urhwebo, i Ukulinganiswa kweSharpe sisixhobo esibalulekileyo eso traders isebenzise ukuvavanya imbuyekezo yotyalo-mali xa ithelekiswa nayo ingozi. Iqanjwe emva kweNobel laureate uWilliam F. Sharpe, ngokusisiseko ilinganisa ukusebenza kotyalo-mali ngokuchasene nesantya esingenamngcipheko, emva kokulungelelanisa umngcipheko wayo.
Ifomula yokubala i-Sharpe Ratio ilula kakhulu:
- Thabatha ireyithi engenamngcipheko kwimbuyekezo eqhelekileyo.
- Emva koko yahlula isiphumo ngokutenxa okusemgangathweni kwembuyekezo.
I-Sharpe Ratio ephezulu icebisa utyalo-mali olusebenzayo ngakumbi, olunikezela ngembuyekezo ephezulu kwinqanaba lomngcipheko elinikiweyo. Ngokuchaseneyo, umlinganiselo ophantsi ubonisa utyalo-mali olungaphantsi, kunye nembuyekezo ephantsi kwinqanaba elifanayo lomngcipheko.
Nangona kunjalo, kubalulekile ukuqonda ukuba i-Sharpe Ratio ngumlinganiselo ohambelanayo. Kufuneka isetyenziswe thelekisa utyalo-mali olufanayo okanye izicwangciso zorhwebo, endaweni yokuba yedwa.
Ngapha koko, ngelixa iSharpe Ratio sisixhobo esinamandla, ayikho ngaphandle kwemida yayo. Kwelinye, ithatha ukuba imbuyekezo ziqhele ukuhanjiswa, nto leyo esenokungasoloko injalo. Kananjalo ayithethi ngeziphumo zokudibanisa.
Ngoko ke, ngelixa i-Sharpe Ratio inokubonelela ngengqiqo ebalulekileyo, kufuneka isetyenziswe ngokubambisana nezinye iimethrikhi kunye nezixhobo zokwenza umfanekiso obanzi wentsebenzo yotyalo-mali.
1.1. Inkcazelo yeSharpe Ratio
Kwihlabathi eliguquguqukayo le forex, crypto, kunye CFD ukurhweba, umngcipheko kunye nembuyekezo ngamacala amabini kwingqekembe enye. Traders bahlala bejonge izixhobo ezinokubanceda balinganise kwaye balawule le miba ibalulekileyo. Esinye isixhobo esinjalo yi Ukulinganiswa kweSharpe, umlinganiselo oncedayo traders bayayiqonda imbuyekezo yotyalo-mali xa kuthelekiswa nomngcipheko walo.
Ebizwa ngokuba nguWilliam F. Sharpe ophumelele iNobel, i-Sharpe Ratio yindlela yokuvavanya ukusebenza kotyalo-mali ngokulungelelanisa umngcipheko wayo. Yimbuyekezo engumndilili efunyenwe ngaphezulu komlinganiselo ongenamngcipheko ngeyunithi nganye ukungazinzi okanye ingozi epheleleyo. Izinga elingenamngcipheko linokuba yimbuyekezo yebhondi karhulumente okanye i-treasury bill, ethathwa ngokuba ayinabungozi.
I-Sharpe Ratio inokuchazwa ngokwemathematika ngolu hlobo:
- (Rx β Rf) / StdDev Rx
phi:
- Rx ngumyinge wereyithi yembuyekezo ka x
- I-Rf lizinga elingenamngcipheko
- I-StdDev Rx kukutenxa okusemgangathweni kwe-Rx (imbuyekezo yepotfoliyo)
Xa uphezulu umlinganiselo weSharpe, kokukhona imbuyekezo yotyalo-mali ingcono xa ithelekiswa nesixa somngcipheko othathiweyo. Enyanisweni, lo mlinganiselo uvumela traders ukuhlola imbuyekezo enokwenzeka kutyalo-mali, ngelixa kuqwalaselwa umngcipheko obandakanyekayo. Oku kuyenza ibe sisixhobo esixabisekileyo kwi-arsenal yayo nayiphi na trader, nokuba bajongene nayo forex, crypto, okanye CFDs.
Nangona kunjalo, kubalulekile ukuqaphela ukuba i-Sharpe Ratio sisixhobo sokubuyela emva; isekelwe kwidatha yembali kwaye ayiqikelele ukusebenza kwexesha elizayo. Ikwanovakalelo kwixesha lexesha elisetyenziselwa izibalo. Ke ngoko, ngelixa isisixhobo esisebenzayo sokuthelekisa utyalo-mali, kufuneka isetyenziswe ngokudibeneyo nezinye iimethrikhi kunye nezicwangciso zembono ebanzi yembonakalo yotyalo-mali.
1.2. Ukubaluleka komlinganiselo weSharpe kuRhwebo
I-Sharpe Ratio, ebizwa ngokuba yiNobel Laureate uWilliam F. Sharpe, isebenza njengesixhobo esibalulekileyo traders kwi forex, crypto, kunye CFD iimarike. Ukubaluleka kwayo akunakubaxwa. Ngumlinganiselo wokusebenza okuhlengahlengisiweyo kumngcipheko, ukuvumela traders ukuqonda imbuyekezo yotyalo-mali xa kuthelekiswa nomngcipheko walo.
Kodwa kutheni iSharpe Ratio ibaluleke kangaka?
Ubuhle be-Sharpe Ratio ilele kumandla ayo okulinganisa ukuguquguquka kunye nomvuzo onokubakho kutyalo-mali. Traders, nokuba ngabaqalayo okanye abanamava, bahlala besukela amacebo avelisa eyona mbuyekezo iphezulu inomngcipheko omncinci. I-Sharpe Ratio ibonelela ngeendlela zokuchonga izicwangciso ezinjalo.
- Ukuthelekiswa koTyalo-mali: Umlinganiselo weSharpe uvumela traders ukuthelekisa umngcipheko-uhlengahlengiso yokusebenza kwezicwangciso ezahlukeneyo zorhwebo okanye utyalo-mali. I-Sharpe Ratio ephezulu ibonisa imbuyekezo ehlenga-hlengisiweyo yomngcipheko.
- Ulawulo lwengozi: Ukuqonda i-Sharpe Ratio kunokunceda traders ilawula umngcipheko ngempumelelo ngakumbi. Ngokwazi umlinganiselo, traders banokuhlengahlengisa izicwangciso zabo ukuze bafumane ulungelelwaniso olufanelekileyo phakathi komngcipheko kunye nembuyekezo.
- Umlinganiselo wokuSebenza: I-Sharpe Ratio ayikho nje ingcamango yethiyori; sisixhobo esisebenzayo eso traders sebenzisa ukulinganisa ukusebenza kwezicwangciso zabo zorhwebo. Isicwangciso esinomlinganiselo ophezulu weSharpe Ratio ngokwembali sabonelela ngembuyekezo engaphezulu kwinqanaba elifanayo lomngcipheko.
Okubaluleke kakhulu, i-Sharpe Ratio ayisosixhobo esizimeleyo. Kufuneka isetyenziswe ngokubambisana nezinye iimetriki kunye nezalathisi ukwenza izigqibo zokurhweba ezinolwazi. Ngelixa ibonelela ngeembono ezixabisekileyo kumngcipheko kunye nokubuyiswa kwesicwangciso, ayithethi malunga nokuba kunokwenzeka ilahleko egqithisileyo okanye iimeko ezithile zemarike. Ngoko ke, traders akufuneki bathembele kuphela kwi-Sharpe Ratio, kodwa endaweni yoko bayisebenzise njengenxalenye yendlela ebanzi yolawulo lomngcipheko.
1.3. Unyino lweSharpe Ratio
Ngoxa i-Sharpe Ratio ngokwenene sisixhobo esinamandla kwi-arsenal yayo nayiphi na i-savvy forex, crypto okanye CFD trader, ayikho ngaphandle kwemida yayo. Kubalulekile ukuqonda ezi zithintelo ukuqinisekisa ukuba wenza izigqibo ezizizo ezisekelwe kutoliko oluchanekileyo lotyalo-mali lwakho.
Okokuqala, iSharpe Ratio ithatha ukuba imbuyekezo yotyalo-mali idla ngokusasazwa. Nangona kunjalo, ilizwe lokurhweba, ngakumbi kwiimarike eziguquguqukayo njenge-crypto, zihlala zifumana ukutyibilika okubalulekileyo kunye ne-kurtosis. Ngokwemigaqo ye-layman, oku kuthetha ukuba imbuyekezo inokuba namaxabiso agqithileyo macala omabini womndilili, idala unikezelo olusecaleni apho iSharpe Ratio ingaxhotyiswanga ukuyiphatha.
- Ukujija: Lo ngumlinganiselo we-asymmetry yokusasazwa okunokwenzeka kwexabiso lokwenyani elixabisekileyo eliguquguqukayo malunga nentsingiselo yalo. Ukuba iimbuyekezo zakho zitenxile kakubi, oko kubonisa imbuyekezo embi kakhulu; kwaye ukuba ngokuqinisekileyo itenxile, imbuyekezo elungileyo egqithisileyo.
- I-Kurtosis: Oku kulinganisa "i-tailedness" yokusasazwa okunokwenzeka kwexabiso lokwenyani elixabisekileyo. I-kurtosis ephezulu ibonisa ukuba nokwenzeka okuphezulu kweziphumo ezigqithisileyo, nokuba zilungile okanye zimbi.
Okwesibini, i-Sharpe Ratio ngumlinganiselo wokubuyela emva. Ibala intsebenzo yangaphambili yotyalo-mali, kodwa ayinakuqikelela intsebenzo yexesha elizayo. Lo mda ufanelekile kwihlabathi elikhawulezayo, eliguqukayo ngokukhawuleza lokurhweba nge-crypto, apho ukusebenza kwexesha elidlulileyo kaninzi kungabonakali kwiziphumo ezizayo.
Okokugqibela, i-Sharpe Ratio iqwalasela kuphela umngcipheko opheleleyo wepotfoliyo, ukusilela ukwahlula phakathi komngcipheko ocwangcisiweyo (umngcipheko ongahlukaniyo) kunye nomngcipheko ongacwangciswanga (umngcipheko ohlukeneyo). Oku kunokukhokelela kuqikelelo olugqithisileyo lokusebenza kweepotfoliyo ezinomngcipheko ophezulu ongacwangciswanga, ezinokuthotywa ulwahlulo.
Ngelixa ezi zithintelo zingakuchasi ukuba luncedo kwe-Sharpe Ratio, zisebenza njengesikhumbuzo sokuba akukho metric enye kufuneka isetyenziswe yodwa. Uhlalutyo olubanzi lwentsebenzo yakho yokurhweba kufuneka luhlale lubandakanya uluhlu lwezixhobo kunye nezibonakaliso, nganye inamandla kunye nobuthathaka bayo.
2. Ukubalwa kwe-Sharpe Ratio
Ukungena kwihlabathi leemetriki zemali, iSharpe Ratio sisixhobo esibalulekileyo traders ukumisela imbuyekezo yotyalo-mali xa kuthelekiswa nomngcipheko walo. Indlela yokubala iSharpe Ratio ilula kakhulu: ngumahluko phakathi kwembuyekezo yotyalo-mali kunye nesantya esingenamngcipheko, sahlulwe ngokutenxa komgangatho wembuyekezo yotyalo-mali.
I-Sharpe Ratio = (Imbuyekezo yotyalo-mali β isantya esingenamngcipheko) / ukutenxa okusemgangathweni kwembuyekezo yotyalo-mali
Masiyiqhekeze. I 'Imbuyekezo yotyalo-mali' yinzuzo okanye ilahleko eyenziwe kutyalo-mali, edla ngokuchazwa njengepesenti. I 'Izinga elingenamngcipheko' yimbuyekezo yotyalo-mali olungenamngcipheko, njengebhondi karhulumente. Umahluko phakathi kwezi zimbini usinika imbuyekezo egqithisileyo ngaphezu komlinganiselo ongenamngcipheko.
Idinomineyitha yefomula, 'Ukutenxa okusemgangathweni kweembuyekezo zotyalo-mali', ilinganisa ukuguquguquka kotyalo-mali, olusetyenziswa njenge-proxy yomngcipheko. Ukutenxa komgangatho ophezulu kuthetha ukuba imbuyekezo inosasazeko olubanzi ngeenxa zonke, ebonisa umgangatho ophezulu womngcipheko.
Nanku umzekelo olula. Masithi unotyalo-mali olunembuyekezo yonyaka ye-15%, ireyithi engenamngcipheko ye-2%, kunye nokutenxa okusemgangathweni kwembuyekezo kwi-10%.
Umlinganiselo obukhali = (15% - 2%) / 10% = 1.3
I-Sharpe Ratio ye-1.3 ibonisa ukuba kwiyunithi nganye yomngcipheko othathiweyo, umtyali-mali kulindeleke ukuba azuze iiyunithi ze-1.3 zembuyekezo ngaphezu kwexabiso elingenamngcipheko.
Kubalulekile ukuqaphela ukuba iSharpe Ratio ngumlinganiselo wothelekiso. Kusetyenziswa ngcono ukuthelekisa imbuyekezo ehlengahlengisiweyo yomngcipheko wotyalo-mali olwahlukeneyo okanye izicwangciso zokurhweba. I-Sharpe Ratio ephezulu ibonisa imbuyekezo ehlenga-hlengisiweyo yomngcipheko.
2.1. Ukuchonga Amacandelo afunekayo
Phambi kokuba singene kuqala kwihlabathi lezibalo zeSharpe Ratio, kubalulekile ukuqonda amacandelo abalulekileyo afunekayo kumsebenzi okhoyo. Ezi zixhobo zingumqolo wezibalo zakho, iigiya ezenza umatshini usebenze kakuhle.
Icandelo lokuqala yi imbuyekezo yepotfoliyo elindelekileyo. Lo ngumlinganiselo olindelekileyo wembuyekezo kwipotifoliyo yakho yotyalo-mali kwixesha elichaziweyo. Kubalulekile ukuqaphela ukuba oku kuqikelelo, ayisosiqinisekiso. Imbuyekezo elindelekileyo ingabalwa ngokuphindaphinda iziphumo ezinokwenzeka ngamathuba okuba zenzeke, uze udibanise ezi ziphumo kunye.
Okulandelayo kulandelayo izinga lomngcipheko-free. Kwilizwe lezemali, le yimbuyekezo kutyalo-mali olungenamngcipheko ngokwethiyori. Ngokwesiqhelo, oku kumelwa yimveliso kwityala leenyanga ezi-3 likaNondyebo wase-US. Isetyenziswa njengebhenchmark kubalo lweSharpe Ratio ukulinganisa imbuyekezo engaphezulu, okanye iprimiyamu yomngcipheko, yokuthatha umngcipheko owongezelelekileyo.
Okokugqibela kodwa kungaphelelanga apho ipotfoliyo ukutenxa umgangatho. Lo ngumlinganiselo wobungakanani botshintsho okanye ukusasazwa kweseti yamaxabiso. Kwimeko yezemali, isetyenziselwa ukulinganisa ukuguquguquka kwepotfoliyo yotyalo-mali. Ukutenxa komgangatho ophantsi kubonisa ipotifoliyo enganeno kuguquguquka, ngelixa ukutenxa komgangatho ophezulu kubonisa ukuguquguquka okuphezulu.
Ngamafutshane, la macandelo mathathu aziintsika apho i-Sharpe Ratio imi khona. Nganye idlala indima ebalulekileyo ekubaleni, inika ingqiqo ebalulekileyo kumngcipheko kunye nembuyekezo yeempawu zepotfoliyo yotyalo-mali. Ngala macandelo esandleni, usendleleni yokufumana ubugcisa bokubala kunye nokutolika i-Sharpe Ratio.
- Imbuyekezo yepotfoliyo elindelekileyo
- Umngcipheko-free izinga
- Ukutenxa umgangatho wePotfoliyo
2.2. Inyathelo ngeNyathelo lokubala inkqubo
Ukuntywila kwinkqubo yokubala, into yokuqala okufuneka uyazi kukuba i-Sharpe Ratio ngumlinganiselo wokubuyisela umngcipheko. Yindlela yokuba traders ukuqonda ukuba ingakanani imbuyekezo eyongezelelweyo abayifumanayo ngenxa yokuguquguquka okuthe chatha abanyamezeleyo ngokubamba i-asethi enobungozi. Ngoku, makhe sicazulule inkqubo ibe ngamanyathelo alawulekayo.
Inyathelo 1: Bala iMbuyiselo yeAsethi
Ukuqala, kuya kufuneka ubale imbuyekezo engaphezulu kwe-asethi. Oku kwenziwa ngokuthabatha ireyithi engenamngcipheko kwimbuyekezo engumndilili we-asethi. Izinga elingenamngcipheko lidla ngokumelwa lityala leenyanga ezi-3 likanondyebo okanye naluphi na utyalo-mali oluthathwa ngokuba 'lungenamngcipheko'. Nantsi ifomula:
- Imbuyekezo eZigqithileyo = UkuBuyiswa kwe-Avareji ye-Asethi-Ixabiso eliNgahlawulelwa nguMngcipheko
Inyathelo 2: Bala ukutenxa koMgangatho weeMbuyiselo ze-Asethi
Okulandelayo, uya kubala ukutenxa okusemgangathweni kweembuyekezo ze-asethi. Oku kubonisa ukuguquguquka okanye umngcipheko onxulumene notyalo-mali. Ukuba mkhulu ukutenxa komgangatho, kokukhona umngcipheko wotyalo-mali mkhulu.
Inyathelo lesi-3: Bala i-Sharpe Ratio
Ekugqibeleni, unako ukubala i-Sharpe Ratio. Oku kwenziwa ngokwahlula imbuyekezo engaphezulu ngokutenxa komgangatho. Nantsi ifomula:
- I-Sharpe Ratio = UkuBuyiselwa ngokugqithisileyo / ukuPhambuka koMgangatho
Inani eliphumayo limele imbuyekezo ehlengahlengisiweyo yotyalo-mali. I-Sharpe Ratio ephezulu ibonisa utyalo-mali olunqweneleka ngakumbi, njengoko kuthetha ukuba ufumana imbuyekezo ethe chatha ngeyunithi nganye yomngcipheko othathiweyo. Ngokuchaseneyo, umlinganiselo ophantsi unokucebisa ukuba umngcipheko onxulumene notyalo-mali awunakuthethelelwa yimbuyekezo enokubakho.
Khumbula, ngelixa i-Sharpe Ratio sisixhobo esiluncedo, akufanele kube yiyo kuphela emisela izigqibo zakho zotyalo-mali. Kuhlala kubalulekile ukuqwalasela ezinye izinto kunye neemetrics, kunye nokuqonda umxholo opheleleyo wotyalo-mali.
3. Ukutolika i-Sharpe Ratio
I-Sharpe Ratio sisixhobo esiyimfuneko forex, crypto, kunye CFD traders. Ngumlinganiselo wembuyekezo elungelelanisiweyo yomngcipheko, ukuvumela traders ukuqonda imbuyekezo yotyalo-mali xa kuthelekiswa nomngcipheko walo. Kodwa uyitolika njani?
Umlinganiselo oncomekayo weSharpe ubonisa ukuba utyalo-mali ngokwembali lubonelele ngembuyekezo encomekayo engaphezulu kwinqanaba lomngcipheko othathiweyo. Okukhona uphezulu umlinganiselo weSharpe, kokukhona utyalo-mali oluye lwaphuculwa ngokwembali yokusebenza komngcipheko. Ukuba iSharpe Ratio ayilunganga, oko kuthetha ukuba izinga lokungabikho komngcipheko likhulu kunembuyekezo yepotfoliyo, okanye imbuyekezo yepotfoliyo ilindeleke ukuba ibembi.
Kule meko, umtyali-mali ojongene nomngcipheko uya kuba ngcono ukuba atyale imali kwizibambiso ezingenamngcipheko. Ngapha koko, xa uthelekisa i-Sharpe Ratios, qinisekisa ukuba uthelekisa utyalo-mali olufanayo. Ukuthelekisa iShape Ratio ye forex isicwangciso sokurhweba kunye neso sicwangciso sorhwebo lwe-crypto sinokukhokelela kwizigqibo ezilahlekisayo, njengoko umngcipheko kunye neempawu zokubuya kwezi marike zinokwahluka kakhulu.
3.1. Ukuqonda i-Sharpe Ratio Scale
Ukuntywila entliziyweni yesihloko, i-Sharpe Ratio Scale sisixhobo esibalulekileyo kuyo nayiphi na trader ujonge ukwandisa imbuyekezo zabo. Lo mlinganiselo, othiywe ngeNobel Laureate uWilliam F. Sharpe, ngumlinganiselo osetyenziselwa ukuqonda imbuyekezo yotyalo-mali xa kuthelekiswa nomngcipheko walo.
I-crux ye-Sharpe Ratio kukuba ilinganisa imbuyekezo umtyali-mali anokuyilindela ngenxa yokuguquguquka okongeziweyo okunyamezelayo xa ephethe i-asethi enobungozi. I-Sharpe Ratio ephezulu ibonisa imbuyekezo ehlenga-hlengisiweyo yomngcipheko.
Nazi ezinye iimpawu eziqhelekileyo:
- A Umlinganiselo obukhali we-1 okanye ngaphezulu kuqwalaselwa kulungile, ebonisa ukuba imbuyekezo iyodlula imingcipheko.
- A Umlinganiselo obukhali we-2 is kulunge kakhulu, ecebisa ukuba iimbuyekezo zi kabini umngcipheko.
- A Umlinganiselo obukhali we-3 okanye ngaphezulu kunjalo obalaseleyo, ebonisa ukuba iimbuyekezo zi kathathu umngcipheko.
Isilumkiso nangona kunjalo - i-Sharpe Ratio ephezulu ayithethi ukuba imbuyekezo ephezulu. Ibonisa nje ukuba imbuyekezo iyahambelana kwaye ayiguquguquki kangako. Kungoko, utyalo-mali olusemngciphekweni ophantsi onembuyekezo engaguqukiyo lunokuba ne-Sharpe Ratio ephezulu kunotyalo-mali olusemngciphekweni ophezulu onembuyekezo engaqhelekanga.
Khumbula, isitshixo sorhwebo oluyimpumelelo alukho malunga nokusukela imbuyekezo ephezulu, kodwa ukuqonda nokulawula umngcipheko obandakanyekayo. I-Sharpe Ratio Scale sesinye isixhobo esiluncedo traders ukuphumeza le balance.
3.2. Ukuthelekisa i-Sharpe Raties yeePotfoliyo ezahlukeneyo
Xa kufikwa ekuthelekiseni iSharpe Ratios yeepotfoliyo ezahlukeneyo, kubalulekile ukuqonda ukuba iSharpe Ratio ephezulu ibonisa imbuyekezo enomtsalane ngakumbi ehlengahlengisiweyo. Oku kuthetha ukuba kwiyunithi nganye yomngcipheko othathiweyo, ipotfoliyo ivelisa imbuyekezo ethe chatha.
Nangona kunjalo, kubalulekile ukuqaphela ukuba i-Sharpe Ratio ayifanele ibe kuphela kwesalathisi esisetyenziswayo xa kuthelekiswa neepotfoliyo. Eminye imiba, efana neprofayili yomngcipheko iyonke yepotfoliyo, isicwangciso sotyalo-mali, kunye nokunyamezela komtyali-mali kumngcipheko ngamnye, kufuneka kuqwalaselwe.
Masicinge ukuba sineepotfoliyo ezimbini: iPotfoliyo A ene-Sharpe Ratio ye-1.5 kunye ne-Portfolio B ene-Sharpe Ratio ye-1.2. Xa ujonga nje kuqala, kunokubonakala ngathi iPotfoliyo A lolona khetho lungcono kuba inomlinganiselo ophezulu weSharpe. Nangona kunjalo, ukuba iPotfoliyo A ityalwe kakhulu kwii-asethi eziguquguqukayo njenge-cryptocurrencies okanye umngcipheko omkhulu. esitokisini, isenokungabi lolona khetho lungcono kumtyalo-mali ochasene nomngcipheko.
Khumbula, iSharpe Ratio ngumlinganiselo wembuyekezo ehlengahlengisiweyo, hayi imbuyekezo egqibeleleyo. Ipotfoliyo eneSharpe Ratio ephezulu ayizukwenza eyona mbuyekezo iphezulu β iza kuvelisa eyona mbuyekezo iphezulu kumgangatho womngcipheko othathiweyo.
Xa uthelekisa iiphothifoliyo, kukwafanelekile ukujonga Umlinganiselo weSortino, elungelelanisa umngcipheko we-downside, okanye umngcipheko wembuyekezo engalunganga. Oku kunokubonelela ngembono entsonkothileyo yeprofayili yomngcipheko wepotfoliyo, ngakumbi kwiipotfoliyo ezinosasazo lwembuyekezo ye-asymmetric.
- Ipotfoliyo A: I-Sharpe Ratio 1.5, i-Sortino Ratio 2.0
- Ipotfoliyo B: I-Sharpe Ratio 1.2, i-Sortino Ratio 1.8
Kule meko, iPotfoliyo A isabonakala ilolona khetho lungcono, njengoko ineSharpe ephezulu kunye neSortino Ratio. Nangona kunjalo, isigqibo ekugqibeleni sixhomekeke kukunyamezela komtyali-mali ngamnye kunye neenjongo zotyalo-mali.
