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相関係数

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シャープレシオ

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Channel: ほんださん / 東大式FPチャンネル

【FP解説】預金準備率や公開市場操作（買いオペ）などの金融政策と財政政策が超わかる【完全C04】

【FP解説】預金準備率や公開市場操作（買いオペ）などの金融政策と財政政策が超わかる【完全C04】

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【FP解説】投資信託のしくみやコスト（信託報酬）を徹底解説【完全C14】

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【FP解説】暗記嫌いに伝えたい金利の変動メカニズム【完全C03】

Channel: ほんださん / 東大式FPチャンネル

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00:00:00

Hello, I'm Honda. Now,

00:00:03

in the second half of portfolio theory, I

00:00:08

would like to talk about variance, and correlation coefficient sharpening, which often appears in the second grade. I think I passed the three weapons

00:00:10

very easily.

00:00:12

I think that because it is a 2nd grade,

00:00:17

I would like to explain the things that I want you to understand properly, while also serving as a review. Thank you for your understanding. I am collaborating with

00:00:20

Mr. Honda's Complete Attack and Degradation Passing

00:00:22

Explanation Series. Consent and Composition. The diagrams and charts are the same, so it's easy to

00:00:24

write in the set of questions,

00:00:25

and the most recent past questions are often used by analysts, so the

00:00:27

study efficiency is quite high.If you like it,

00:00:29

check it out at bookstores nationwide.First of

00:00:32

all, diversify your investment. So, the 7th part of diversified investment

00:00:38

is to reduce losses by diversifying risk.If you ask me why, I

00:00:40

used the example of mandarin oranges and melons last time.You

00:00:43

invest only in mandarin oranges, so the mandarin oranges are

00:00:44

full. I talked about how if something were to collapse at some point, it

00:00:48

would be good to properly diversify.There are many ways to diversify your investments.For

00:00:51

example,

00:00:53

when it comes to diversifying your investment targets, you

00:00:56

invest in multiple glasses such as stocks and bonds. Japan:

00:01:00

I like cars, so I think I should invest in cars, but if

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all Toyotas were Lee, for example, if Toyota were to

00:01:03

have a scandal, the stock price would

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go down and I would lose a lot of money.But

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if I invested in Toyota and Nissan, for example.

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If Toyota fails, Nissan will still be

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able to withstand it, so we diversify like this, and then we

00:01:19

diversify into different countries and regions, and then stocks and bonds on a larger scale.Diversify your

00:01:21

investments. For example, if you only buy Japanese stocks, you

00:01:26

'll be hit hard when Japan is the only one in recession, but it's hard to

00:01:29

say because it's affected all over the world.However, it's better to buy

00:01:33

American stocks than to buy only Japanese stocks. It's better to have a good balance,

00:01:35

which is what makes a diversified investment.For

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example, I'm sure you've all done it before,

00:01:39

but it takes a lot of money to buy a single share,

00:01:41

so it's quite difficult to do this in

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reality. In terms of the world,

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you can buy investment trusts even with a small amount at such times, so if you

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understand that, it is a good example of how you can naturally diversify your investments. And

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then there's the diversification of investment timing, so

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this is also important.This is about what to buy.This is

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about when to buy.What

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this means is that it

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reduces the risk of price fluctuations.

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For example, if the

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stock chart looks like this, and

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you just happen to be thinking about buying it, it

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would be the worst if you bought it here and there.I

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inherited 5 million yen and got it.Okay, I'll

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buy it. If you

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say everything is fine, you

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'll feel like it's over, so if you do it

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in a little more detail, here's 1 million yen,

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here's 1 million yen, here's 1 million yen,

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then you'll

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end up with, of course. The idea is that temporal dispersion is very important, such as if you buy something here, you

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lose money, but if you

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buy something down there, you were lucky to buy it when it was cheap.

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As I said, the method you can use at that time is the

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dollar cost averaging method that you have already studied.In

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short,

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by buying a certain amount on a regular basis, you can grab the high price,

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reduce the high price grab, and then buy on average. In

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other words, how much did it cost to buy it?In terms of

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total cost, we

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talked about how it has the effect of making it cheaper.The system for

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saving money is

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basically designed with that in mind, and so on.

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Well, I

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think you can understand it by investing in various things yourself.First of all, this is the idea of diversified investment.Next, I'm

00:03:16

going to talk about the correlation coefficient, which is very good.What is the

00:03:17

correlation coefficient?

00:03:19

After all, as I said earlier, Like, it's better to invest in a variety of things,

00:03:21

but there's no

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point in investing in stocks that are just similar.

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I really like it, so I'm

00:03:31

going to buy airline stocks, but I heard that diversified investment is

00:03:33

important.So, I said I'd do it with Anna and JAL, but if

00:03:35

this corona

00:03:38

virus spreads, it won't be the end for either of them.The price

00:03:39

will go down, and in reality. It's important. It's not

00:03:41

that it's important, but it's that if

00:03:44

possible, it's

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best to buy assets or stocks that move in different ways. So, what I mean is, it's

00:03:53

exciting in a horizontal manner, and for

00:03:55

example, The demand for staying at home will increase.So, if you

00:03:59

buy Domino's Pizza and Domino's Pizza, there

00:04:01

will be a boom in travel, and travel will be able to survive.If that happens,

00:04:03

then there will be a boom in travel, and on the other hand, if you are staying at home,

00:04:05

pizza, which was said to be no more, will

00:04:07

grow significantly. So you can see that it becomes a disc hitch, and that it

00:04:08

moves differently.The way we can tell

00:04:15

if the two shells are moving in different ways is

00:04:17

called the correlation coefficient. I understand. The

00:04:20

correlation coefficient is a

00:04:26

value that shows how much the price movements of assets and stocks are the same or how different.

00:04:31

In short, let's take an example. Let's say you

00:04:32

own two stocks, one in company A and the other in company B.

00:04:34

In that case,

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how different would these two movements be? It

00:04:39

is expressed as a number between 1 and -1.The

00:04:42

important thing about yes is to understand what 1 or minus 1

00:04:46

means.For

00:04:49

example, it

00:04:52

means that the stock price has increased because of Company A. Even if it happened,

00:04:54

Company B also went up at that time.It's a design company,

00:04:56

so when Announcer goes up, JAL will

00:04:58

go up as well.It's probably because travel has recovered.This is because of

00:05:00

sexual damage. In

00:05:02

other words, if you

00:05:04

put A and B stocks together,

00:05:07

there is no risk diversification effect, so this is not a diversified investment at all.In

00:05:09

that case, the

00:05:12

correlation coefficient is said to be 1.In

00:05:14

short, it is a positive correlation and moves in the same way. , so it

00:05:16

's $1.

00:05:18

And

00:05:19

conversely,

00:05:21

when company A's stock price goes up, the stock price

00:05:23

moves down. Conversely, when company B's stock price goes up,

00:05:26

company A's stock price moves down.

00:05:28

There is an inverse relationship. Now, the fact that

00:05:30

there is an inverse relationship

00:05:33

means that there is a maximum risk difference.It's completely different.If it

00:05:35

moves, it will only be minus 1 at that time.So, by

00:05:37

the way,

00:05:41

Company A's movement If the actions of Company B and Company B are not linked at all,

00:05:43

this will be 0. Well, just like this,

00:05:45

please replace 00 and 1 as wrong.

00:05:47

When you do not think that way at all, it

00:05:49

will be expressed as 0, so this option is often used as a trigger.

00:05:50

Please be careful

00:05:53

Yes, next.

00:05:55

Systematic List Non-

00:05:56

Systematic Disk Well, don't worry.

00:05:59

There is also something called Stematic Distim. Well, I think it's something like Systema, or

00:06:01

toothpaste, but I'll

00:06:02

explain about this. So

00:06:04

what does Systema mean? It's

00:06:07

one stock with two stocks, two stocks with two stocks, a stock of 5. You

00:06:12

can reduce risk by investing in 10 stocks with a stock of 5.

00:06:14

Well, that's the ultimate story.

00:06:17

Buying a well-balanced share of all the companies in Japan is

00:06:19

n't, for example, the ultimate diversified investment.

00:06:21

But even then, there are risks that can't be prevented.

00:06:25

For example, like the Lehman Shock,

00:06:32

there is a risk that if everything goes down, no matter how diversified your investment is, it will be meaningless.This risk is

00:06:34

called systema, and it is a

00:06:37

fluctuation in the overall market that cannot be eliminated even with diversified investment. The

00:06:39

disk that is affected by this is

00:06:41

called a systematic disk.When

00:06:44

major events such as the Great East Japan Earthquake or the Lehman Shock occur, it is

00:06:47

impossible to remove this phenomenon.On the other hand, a

00:06:50

systematic disk is one that is located in a

00:06:51

position similar to the one mentioned before. 5 from 2, the

00:06:54

more you do it, the more risk you can reduce.It's

00:06:57

called an unsystematic disk.So if you

00:06:58

make a diagram, it will look something like this.Sorry, I

00:07:00

got a little off the mark,

00:07:02

but please think of this as the number of stocks.The

00:07:04

number of stocks is yes. To put it simply,

00:07:07

when you only buy one stock, you

00:07:09

have a huge disk, and

00:07:11

if you diversify it into many different stocks, it

00:07:13

will continue to decrease. However,

00:07:16

no matter how you divide it, it's still the orange part at the bottom. What I was talking about

00:07:18

earlier

00:07:21

is that you can't erase something like the Lehman Shock.That's

00:07:22

called a systematic disk.In short,

00:07:27

you can't erase it even after brushing your teeth.

00:07:31

Well, the system is more like brushing your teeth,

00:07:32

but the risk won't go away even with Systema.

00:07:34

Think of it like this. Yes, that's the

00:07:38

last one. It

00:07:40

's Sharp, so what is the Sharpe ratio?

00:07:42

Well,

00:07:45

earning a return is important.

00:07:47

In other words, everyone wants something with good returns, right?

00:07:49

But just

00:07:50

because the returns are good doesn't mean that you can

00:07:52

really make money without considering the risks.

00:07:55

So,

00:07:59

what is the profit when risk is taken into account?

00:08:00

Sharp is determined to be able to measure it.

00:08:02

Since it was made by Sharp, it is a Sharp

00:08:04

receipt. It

00:08:05

doesn't mean that it is sharp. Well, I don't really care.

00:08:06

That's fine, but how do you

00:08:08

use it? It's an

00:08:15

index to measure the efficiency of your investment based on how much return you can make against the risk. The higher the value, the better the

00:08:18

product. The reason for this

00:08:20

can be seen from the mechanism.The

00:08:21

Sharpe ratio is basically

00:08:24

divided by the standard deviation, in other

00:08:26

words, the risk, by the profit.As we did earlier, you can make a profit of 5% per year.So, the

00:08:29

fluctuation of 2% means 5÷2.

00:08:33

Well, it's a simple equation.However, what I want you to be

00:08:35

careful about above is that I'm going to

00:08:39

play it here because it's called the safe asset interest rate.Well,

00:08:41

now that I've given it another name, I

00:08:43

'll also use the forced interest rate and the left side.Now we

00:08:45

need to subtract it. Well, let me

00:08:48

give you an example. First of all, this portfolio

00:08:50

has a profit of 11% per year. Well, it's a fairly aggressive

00:08:53

portfolio, so the standard deviation is 5%. Also, the

00:08:56

unreasonable receipt is 1%.

00:08:59

Also, how much is this Sharpley treatment?

00:09:00

So, if you do 11-1 and

00:09:04

divide by the standard deviation of 5, you

00:09:07

get 2.0.The unnecessary one is Sharp Pension 2.0.If you

00:09:10

compare this with the others, which one is

00:09:12

safer and more profitable? This is

00:09:14

used as material for comparison, so why are we

00:09:16

subtracting the safe assets?

00:09:22

Isn't it unfair to exclude the part that says, "No matter who does this, you can earn this much?"

00:09:24

In other words, if people who don't take risks say that

00:09:26

if they buy government bonds, they will probably see their prices rise by about 1%,

00:09:29

which means anyone can earn 1% no matter what they do, so

00:09:33

it's just a matter of this portfolio. That's not true,

00:09:35

so we have to

00:09:43

take that into consideration, which is why I'm playing this safe sheet.I'm going to assume that there is a line that everyone has in common and that anyone can earn money from, and then I'm going to look at how much I

00:09:46

can exceed that line. Think of it

00:09:48

like, ``I'm doing something like this because I want to see the results.''

00:09:49

Well, the

00:09:51

portfolio-related stuff is over.

00:09:53

Well, there are really a lot of calculation problems around here, so

00:09:55

please try doing it while solving calculation problems. And

00:09:57

first class examinees, see you again, I

00:10:04

think you need to have a solid understanding of Frontline Alpha, Beta, and so on, so I'll

00:10:06

explain the theme thoroughly and thoroughly, and if you'd

00:10:08

like, please watch it.Then, the next video.Finally.

00:10:11

Let's finish by talking about derivative trading. Thank you

00:10:13

everyone for your hard work in learning.

00:10:16

If you found this video useful, please subscribe to the channel, give it a high rating,

00:10:19

and leave a comment. Also, for this

00:10:22

series, we have created playlists for each field.

00:10:24

If you'd like, please use those as well and

00:10:27

study over and over again to solidify your knowledge.Thank you for

00:10:30

watching.

Description:

FPの合格に向けて、金融資産運用分野の中から分散や標準偏差、シャープレシオ、相関係数の解説講義をお送りいたします。 ▼連続再生、リピート再生に便利なFP完全講義、金融資産運用編の再生リスト https://www.youtube.com/playlist?list=PLQQS8fV84KTPMfNCNsOmyXJEsQSeyp9B3 ▼動画内のスライドとリンクしたLECの超わかりやすいコラボテキスト！ FP2級・AFP 合格のトリセツ速習テキスト：https://www.amazon.co.jp/FP2%E7%B4%9A%E3%83%BBAFP-%E5%90%88%E6%A0%BC%E3%81%AE%E3%83%88%E3%83%AA%E3%82%BB%E3%83%84-%E9%80%9F%E7%BF%92%E3%83%86%E3%82%AD%E3%82%B9%E3%83%88-2022-23%E5%B9%B4%E7%89%88-FP%E5%90%88%E6%A0%BC%E3%81%AE%E3%83%88%E3%83%AA%E3%82%BB%E3%83%84%E3%82%B7%E3%83%AA%E3%83%BC%E3%82%BA-ebook/dp/B0B24DGZ6T?language=ja_JP これだけで合格可能な対応問題集：https://www.amazon.co.jp/gp/product/B0B24JSD86?storeType=ebooks&language=ja_JP ▼チャンネル登録がまだの方は登録お願いします！ https://www.youtube.com/channel/UCBp751ECaWfrw_dZtdgZu1A 【もっと本質を理解しながら、最短最速で、コスパ良くFP試験に合格したい方に：FPキャンプ】 FPキャンプは本質を理解する学びの楽しさを感じながら、最短合格に向けて効率的に学習できるFPコンテンツを個人、ならびに法人・団体のお客様向けに提供しています。現在、1級学科試験コース、2級コース、FP3級コースを開講中です。専門講師が本試験を徹底分析して制作した充実したコンテンツ、オリジナルサイトと専用スマホアプリを用いた学習に集中できるプラットフォーム、入会金なしでコスパ良く学習可能なサブスク制料金体系などが高く評価され、受講者数は開始8か月で4,000名を超えました。24年1月のFP1級学科試験では受検者の約3割が受講生という圧倒的シェアと全体平均の5倍を超える高い合格率を記録、FP2級試験では学科試験で7割超、実技試験で約9割という全体平均を大きく上回る合格率を達成しました。ご興味のある方はFPキャンプの紹介動画ならびに専用サイトをご覧ください紹介動画：https://www.youtube.com/watch?v=jvRHFqPCpkY 1級学科試験コース（無料体験版あり）：https://www.fp-camp.net/fp1-course 2級コース：https://www.fp-camp.net/fp2-course 3級コース：https://www.fp-camp.net/fp3-course 【ほんださんプロフィール】大学在学中から日本における金融リテラシーに課題を感じ、金融教育のコンテンツ制作やセミナー運営を行う。24歳で1級ファイナンシャル・プランニング技能士を独学で取得。学習時の独学経験を踏まえ、21年4月にFP試験向け解説を手がける「ほんださんFPチャンネル」を開設。本質の理解を目指す分かりやすい講義が高い評価を集め、現在の登録者数は19万人超とFP業界でトップを誇る。東京大学工学部都市工学科卒業（都市計画専攻）【公式SNS】・ほんださん　◦ X：https://twitter.com/hondarfp ・FPキャンプ　◦ X：https://twitter.com/fp_camp 　◦ YouTube：https://www.youtube.com/@fp_camp 【問い合わせ】 https://square-works.co.jp/contact/

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UDL Lite is a really convenient way to access a website from your mobile device. With its help, you can easily download videos directly to your smartphone.

Which format of "【FP解説】シャープレシオ？相関係数？資産運用に使えるインプット【完全C22】" video should I choose?

The best quality formats are FullHD (1080p), 2K (1440p), 4K (2160p) and 8K (4320p). The higher the resolution of your screen, the higher the video quality should be. However, there are other factors to consider: download speed, amount of free space, and device performance during playback.

Why does my computer freeze when loading a "【FP解説】シャープレシオ？相関係数？資産運用に使えるインプット【完全C22】" video?

The browser/computer should not freeze completely! If this happens, please report it with a link to the video. Sometimes videos cannot be downloaded directly in a suitable format, so we have added the ability to convert the file to the desired format. In some cases, this process may actively use computer resources.

How can I download "【FP解説】シャープレシオ？相関係数？資産運用に使えるインプット【完全C22】" video to my phone?

You can download a video to your smartphone using the website or the PWA application UDL Lite. It is also possible to send a download link via QR code using the UDL Helper extension.

How can I download an audio track (music) to MP3 "【FP解説】シャープレシオ？相関係数？資産運用に使えるインプット【完全C22】"?

The most convenient way is to use the UDL Client program, which supports converting video to MP3 format. In some cases, MP3 can also be downloaded through the UDL Helper extension.

How can I save a frame from a video "【FP解説】シャープレシオ？相関係数？資産運用に使えるインプット【完全C22】"?

This feature is available in the UDL Helper extension. Make sure that "Show the video snapshot button" is checked in the settings. A camera icon should appear in the lower right corner of the player to the left of the "Settings" icon. When you click on it, the current frame from the video will be saved to your computer in JPEG format.

What's the price of all this stuff?

It costs nothing. Our services are absolutely free for all users. There are no PRO subscriptions, no restrictions on the number or maximum length of downloaded videos.