基金股票的风险与收益如何衡量?

风险：

• 基金股票的风险主要体现在以下几个方面：
  • **市场风险：**基金股票的投资组合会受到市场波动的影响，市场风险是不可避免的。
  • **行业风险：**特定行业的基金股票风险更高，例如金融行业、科技行业等。
  • **公司风险：**特定公司基金股票风险更高，例如科技公司、金融公司等。

收益：

• 基金股票的收益主要体现在以下几个方面：
  • ** dividend：**基金公司会根据其内部决策，向基金股票支付 dividend。
  • ** capital appreciation：**基金股票的价值会随着市场价格的上升而增加，这就是资本回报。
  • ** dividends growth：**一些基金公司会通过 buyback 等方式，向其股票支付 dividend。

风险与收益的衡量方法：

• **风险收益比 (Risk-Return Ratio)：**风险收益比 measures the fund's risk and return relative to a benchmark, such as the S&P 500. It is calculated by dividing the annualized standard deviation of the fund's returns by its annualized standard deviation. A higher risk-return ratio indicates that the fund has higher potential for high returns but also higher potential for losses.
• **Sharpe ratio：**Sharpe ratio measures the excess return of a fund relative to a risk-free rate. It is calculated by dividing the annualized excess return by the annualized standard deviation of the risk-free rate. A higher Sharpe ratio indicates that the fund has higher excess return for its level of risk.
• **Sortino ratio：**Sortino ratio measures the excess return of a fund relative to a risk-free rate, adjusted for the risk of the market. It is calculated by dividing the annualized excess return by the annualized standard deviation of a market-adjusted portfolio. A higher Sortino ratio indicates that the fund has higher excess return for its level of risk.

总结：

• 基金股票的风险与收益是相互关联的。
• 不同的风险水平对应不同的收益水平。
• 基金股票的风险收益比、Sharpe ratio 和 Sortino ratio 是常用的指标用于衡量和比较基金股票的风险与收益。