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A Straightforward Analysis of Sector Portfolios in the US Stock Market

Listed author(s):
  • Francisco JAREÑO
  • Marta TOLENTINO
  • Loredana NEGRUT
Registered author(s):

    This research focuses on analysing the US stock market in recent years –specifically the US stock market, that is, Dow Jones index, and six sector portfolios (Financials, Energy, Technology, Health Care, Consumer Discretionary and Telecommunications)-. All sectors achieve higher returns than expected according to the CAPM (except the “Consumer Discretionary” sector). Moreover, this fact is confirmed with the Security Market Line (SML). Thus, these results help investors to choose the most suitable sectors in the investment horizon. Therefore, this research includes relevant implications to portfolio managers to reduce the risk and maximize the return.

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    File URL: http://www.usc.es/~economet/journals1/aeid/aeid1619.pdf
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    Article provided by Euro-American Association of Economic Development in its journal Applied Econometrics and International Development.

    Volume (Year): 16 (2016)
    Issue (Month): 1 ()
    Pages: 105-114

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    Handle: RePEc:eaa:aeinde:v:16:y:2016:i:1_9
    Contact details of provider: Web page: http://www.usc.es/economet/eaa.htm

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    1. Harry Markowitz, 1952. "Portfolio Selection," Journal of Finance, American Finance Association, vol. 7(1), pages 77-91, March.
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