CFA一級(jí)考試知識(shí)點(diǎn)總結(jié)
Security-market Indexes
1. Price-weighted index=sum of Stock price/#of Stock inthe index adjusted for split
a. 價(jià)格高的股票對(duì)該股指的影響大！
b. DJIA和日經(jīng)指數(shù)Nikkei 都是價(jià)格加權(quán)指數(shù)！
c. 必須考慮股票分割的影響！
2. Market value-weighted index=sum[price for today#ofshares outstanding]/sum[price for base year#of shares outstanding]*base year index value
a.其不足之處是大的Market capitalization的公司對(duì)指數(shù)的影響大！
b.Value-weighted市場(chǎng)價(jià)值加權(quán)指數(shù)會(huì)自動(dòng)的調(diào)整了股票分割對(duì)指數(shù)的影響！
c.S&P is market value-weighted index
d.NYSE is market value-weighted index
e.NASDAQ is market value-weighted index
3.  Unweighted index---直接將每只股票的收益相加求算術(shù)平均數(shù)或者幾何平均數(shù)
a.首先計(jì)算出各個(gè)股票的收益率；---可能有正有負(fù)；
b.計(jì)算其算術(shù)平均數(shù)或者幾何平均數(shù)—注意幾何平均數(shù)的計(jì)算方法