{"id":5911,"date":"2023-08-10T17:30:34","date_gmt":"2023-08-10T15:30:34","guid":{"rendered":"https:\/\/www.forexsrovnavac.cz\/mag\/?p=5911"},"modified":"2024-02-08T18:28:28","modified_gmt":"2024-02-08T17:28:28","slug":"co-nam-rikaji-koeficienty-alfa-a-beta-u-akcie","status":"publish","type":"post","link":"https:\/\/www.forexsrovnavac.cz\/mag\/co-nam-rikaji-koeficienty-alfa-a-beta-u-akcie\/","title":{"rendered":"Co n\u00e1m \u0159\u00edkaj\u00ed koeficienty Alfa a Beta u akcie?"},"content":{"rendered":"<p><strong> Alfa a Beta jsou dva kl\u00ed\u010dov\u00e9 koeficienty<\/strong>, kter\u00e9 se pou\u017e\u00edvaj\u00ed k anal\u00fdze a kvantifikaci rizika a v\u00fdkonnosti akci\u00ed ve vztahu k trhu. V praxi je pomoc\u00ed diverzifikace mo\u017en\u00e9 eliminovat tzv. &#8222;specifick\u00e9&#8220; riziko, tedy riziko, kter\u00e9 nen\u00ed spojeno s obecn\u00fdmi tr\u017en\u00edmi trendy. Zat\u00edmco &#8222;syst\u00e9mov\u00e9&#8220; riziko, co\u017e je riziko souvisej\u00edc\u00ed s celkov\u00fdmi pohyby trhu vyvolan\u00fdmi ekonomick\u00fdmi, politick\u00fdmi a soci\u00e1ln\u00edmi faktory ovliv\u0148uj\u00edc\u00edmi v\u00fdkonnost v\u00fdnosov\u00fdch sazeb v\u0161ech obchodovan\u00fdch aktiv na trz\u00edch, nut\u00ed investory hledat odpov\u00eddaj\u00edc\u00ed kompenzaci, kter\u00e1 nen\u00ed mo\u017en\u00e1 eliminovat pomoc\u00ed diverzifikace. <strong>Zde je jejich v\u00fdznam a vyu\u017eit\u00ed:<\/strong><\/p>\n<h2>Koeficient Beta <strong> (\u03b2)<\/strong><\/h2>\n<p>Tento ukazatel, zn\u00e1m\u00fd tak\u00e9 jako <strong>m\u00edra volatility<\/strong>, vyjad\u0159uje specifick\u00fd charakter ka\u017ed\u00e9 jednotliv\u00e9 akcie. Ukazatel vztahuje akcii k celkov\u00e9mu trhu a spojuje jej\u00ed v\u00fdkonnost s celkov\u00fdm v\u00fdvojem trhu ve stejn\u00e9m obdob\u00ed. Beta v podstat\u011b reflektuje vazbu mezi v\u00fdkonnost\u00ed akci\u00ed a v\u00fdvojem trhu. Koeficient Beta klasifikuje akcie podle n\u00e1sleduj\u00edc\u00edch hodnot:<\/p>\n<ul>\n<li>Beta &gt; 1 = (vy\u0161\u0161\u00ed volatilita) Akcie se pohybuje ve stejn\u00e9m sm\u011bru jako trh, av\u0161ak s v\u011bt\u0161\u00edmi v\u00fdkyvy ne\u017e samotn\u00fd trh. Tato kategorie m\u016f\u017ee n\u00e9st riziko, pokud se cel\u00fd trh propadne.<\/li>\n<li>0 &lt; Beta &lt; 1 = (ni\u017e\u0161\u00ed volatilita) Akcie sleduj\u00ed sm\u011br trhu, ale s men\u0161\u00edmi v\u00fdkyvy ne\u017e je b\u011b\u017en\u00e9 na trhu. V\u00fdkon je m\u00e9n\u011b v\u00fdrazn\u00fd a po\u010det zvrat\u016f trendu je ni\u017e\u0161\u00ed.<\/li>\n<li>0 &gt; Beta &gt; -1 = Akcie se pohybuje opa\u010dn\u00fdm sm\u011brem ne\u017e trh, ale v omezen\u00e9 m\u00ed\u0159e. Tato kategorie se t\u00fdk\u00e1 cenn\u00fdch pap\u00edr\u016f, kter\u00e9 umo\u017e\u0148uj\u00ed obchodovat proti trendu s m\u00edrn\u00fdm rizikem. Omezen\u00e1 citlivost na tr\u017en\u00ed pohyby m\u00e1 omezen\u00e9 d\u016fsledky.<\/li>\n<li>Beta &lt; -1 = Akcie se pohybuj\u00ed opa\u010dn\u00fdm sm\u011brem ne\u017e trh a s v\u011bt\u0161\u00edmi v\u00fdkyvy. Nespr\u00e1vn\u00e1 interpretace um\u00edst\u011bn\u00ed t\u011bchto akci\u00ed m\u016f\u017ee m\u00edt z\u00e1va\u017en\u00e9 n\u00e1sledky, ale z\u00e1rove\u0148 m\u016f\u017ee umo\u017enit dosa\u017een\u00ed pozoruhodn\u00fdch v\u00fdsledk\u016f za cenu zv\u00fd\u0161en\u00e9ho rizika.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2023\/08\/akcie-beta-koeficient.png\"><img alt=\"\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-5912 size-full aligncenter\" src=\"https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2023\/08\/akcie-beta-koeficient.png\" alt=\"\" width=\"921\" height=\"481\" srcset=\"https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2023\/08\/akcie-beta-koeficient.png 921w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2023\/08\/akcie-beta-koeficient-150x78.png 150w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2023\/08\/akcie-beta-koeficient-768x401.png 768w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2023\/08\/akcie-beta-koeficient-77x40.png 77w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2023\/08\/akcie-beta-koeficient-61x32.png 61w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2023\/08\/akcie-beta-koeficient-153x80.png 153w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2023\/08\/akcie-beta-koeficient-258x135.png 258w\" sizes=\"auto, (max-width: 921px) 100vw, 921px\" \/><\/a><\/p>\n<h2>Koeficient Alfa <strong>(\u03b1)<\/strong><\/h2>\n<p>Tento koeficient ukazuje, jak\u00fdm zp\u016fsobem akcie generuje hlavn\u00ed p\u0159\u00edjem, nez\u00e1visle na sou\u010dasn\u00fdch tr\u017en\u00edch tendenc\u00edch. <strong>Slou\u017e\u00ed jako ukazatel specifick\u00e9ho rizika<\/strong> spojen\u00e9ho s dan\u00fdm cenn\u00fdm pap\u00edrem. Vyj\u00e1d\u0159en je v procentech ro\u010dn\u011b, pololetn\u011b, \u010dtvrtletn\u011b nebo m\u011bs\u00ed\u010dn\u011b a ukazuje rozd\u00edl mezi aktu\u00e1ln\u00edm v\u00fdnosem v dan\u00e9m \u010dasov\u00e9m obdob\u00ed a o\u010dek\u00e1van\u00fdm v\u00fdnosem, kter\u00fd by byl dosa\u017een, pokud by se ceny pohybovaly pouze podle Beta koeficientu, m\u011b\u0159\u00edc\u00edho tr\u017en\u00ed riziko. Alfa tedy indikuje, jak trh hodnot\u00ed v\u00fdkonnost akcie vzhledem k jej\u00edm specifick\u00fdm rizik\u016fm.<\/p>\n<p>Charakter a velikost spole\u010dnosti hraj\u00ed roli p\u0159i ur\u010dov\u00e1n\u00ed toho, zda je Alfa pozitivn\u00ed nebo negativn\u00ed. Alfa signalizuje, zda trh pova\u017euje v\u00fdnosy spole\u010dnosti a jej\u00ed akcie za odli\u0161n\u00e9 od pr\u016fm\u011bru.<\/p>\n<p>Zde jsou hodnoty, kter\u00e9 mohou b\u00fdt z\u00edsk\u00e1ny z tohoto ukazatele:<\/p>\n<ul>\n<li>ALFA = 0 = Stav rovnov\u00e1hy, kde jsou v\u00fdnosy akcie v souladu s o\u010dek\u00e1v\u00e1n\u00edm.<\/li>\n<li>ALFA &gt; 0 stoupaj\u00edc\u00ed = O\u010dek\u00e1v\u00e1n\u00ed nadpr\u016fm\u011brn\u00fdch v\u00fdnos\u016f.<\/li>\n<li>Klesaj\u00edc\u00ed ALFA &gt; 0 = Mo\u017en\u00fd pokles nadpr\u016fm\u011brn\u00fdch v\u00fdnos\u016f.<\/li>\n<li>Klesaj\u00edc\u00ed ALFA &lt; 0 = P\u0159edpokl\u00e1daj\u00ed se podpr\u016fm\u011brn\u00e9 v\u00fdnosy.<\/li>\n<li>ALFA &lt; 0 stoupaj\u00edc\u00ed = Pozitivn\u00ed zm\u011bna o\u010dek\u00e1v\u00e1n\u00ed s dopadem na cenu cenn\u00e9ho pap\u00edru.<\/li>\n<\/ul>\n<p>Beta a Alfa jsou v\u00fdznamn\u00fdmi ukazateli, kter\u00e9 pom\u00e1haj\u00ed investor\u016fm a analytik\u016fm pochopit, jak\u00fdm zp\u016fsobem akcie reaguj\u00ed na tr\u017en\u00ed pohyby a jak\u00e9 riziko a v\u00fdnosy mohou o\u010dek\u00e1vat ve srovn\u00e1n\u00ed s celkov\u00fdm trhem.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Alfa a Beta jsou dva kl\u00ed\u010dov\u00e9 koeficienty, kter\u00e9 se pou\u017e\u00edvaj\u00ed k anal\u00fdze a kvantifikaci rizika a v\u00fdkonnosti akci\u00ed ve vztahu k trhu. V praxi je pomoc\u00ed diverzifikace mo\u017en\u00e9 eliminovat tzv. &#8222;specifick\u00e9&#8220; riziko, tedy riziko, kter\u00e9 nen\u00ed spojeno s obecn\u00fdmi tr\u017en\u00edmi trendy. Zat\u00edmco &#8222;syst\u00e9mov\u00e9&#8220; riziko, co\u017e je riziko souvisej\u00edc\u00ed s celkov\u00fdmi pohyby trhu vyvolan\u00fdmi ekonomick\u00fdmi, politick\u00fdmi [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5913,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"Koeficienty Alfa a Beta u akci\u00ed. Co n\u00e1m \u0159\u00edkaj\u00ed a jak\u00e1 je jejich definice? Pou\u017e\u00edvaj\u00ed se k anal\u00fdze a kvantifikaci rizika a v\u00fdkonnosti akci\u00ed.","_seopress_robots_index":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[194],"tags":[],"class_list":["post-5911","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-akcie"],"modified_by":"Krpensk\u00fd Martin","_links":{"self":[{"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/posts\/5911","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/comments?post=5911"}],"version-history":[{"count":0,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/posts\/5911\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/media\/5913"}],"wp:attachment":[{"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/media?parent=5911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/categories?post=5911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/tags?post=5911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}