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Impact of Market Uncertainty on Stock-Bond Return Relation
Rulíšek, Filip ; Čech, František (advisor) ; Teleu, Saida (referee)
In this thesis, we investigate the relationship between stock and bond returns in the US market from January 2018 to May 2023, with a specific focus on the impact of market uncertainty on this relation. Employing the rolling window cor- relation method, we examine the dynamic correlation between these two assets, using the S&P 500 Index and the US 10-Year Treasury Price Index. The results show, on average, a negative correlation on both monthly and quarterly basis. On a monthly basis we also observed highly fluctuating patterns. Additionally, the findings presented herein demonstrate that both the level and changes in stock market uncertainty, measured by the CBOE Volatility Index, negatively affect the relationship between stock and bond returns. On average, during times of increas- ing market uncertainty, investors tend to shift their funds from risky stocks toward safer bonds, while periods of low market uncertainty are usually characterized by the opposite trend. We carried out the same analysis for 11 stock market sec- tors separately. Interestingly, this analysis revealed that the relationship between the returns of these sectors and government bond returns varies. While the ma- jority of sectors exhibit the same negative correlation as the overall market, few sectors, such as Utilities and...
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Zhodnocení investičních produktů dle způsobu jejich řízení
Maštalíř, Jiří
Bachelor thesis is focused on investments to mutual funds and exchange traded funds. Includes the characteristic of the most important concepts of collective investments from the legal forms through the identification of advantages and disadvantages to the presentation of the investments products themselves and their strategies. The primary objective of the thesis is to compare the various investment products according to the way of their management. Then are made recommendations on which investment style and strategy are best suited to retail investor.
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Interaction of financial market and real economy
Macháč, Peter ; Sedláček, Jiří (advisor) ; Veselková, Alexandra (referee)
The aim of my diploma thesis is to analyze basic theoretical approach and description of financial market. In a first stage I will describe basic functions, regulation methods and structure. After that I am going to focus on particular analysis methods, which are used as a price prediction tools. Main part of thesis consist of description of current disproportional relationship between stock market prices and real economic development. I will mainly focus on reasons and following implications of this disproportion.
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Comparison of American and German stock market
Lukáš, Jakub ; Musílek, Petr (advisor)
I would like to devote this bachelor work to the problem of comparison of American and German stock market. The main ambition will be to explain differences in the way these markets work coming from dissimilar historical presumtions based on Anglo-Saxon and Continental markets. Individual markets will be described, their mechanism of trading, capital instruments, regulation but also the development the trading has gone through over past couple of years. Next, an analysis of indvidual companies that act as administrators at these markets, will follow. The end I will devote to the most remarkable differences between both compared markets.
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