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Wykorzystanie narzędzi wielowymiarowej analizy porównawczej w badaniu jednorodności funduszy inwestycyjnych akcji pod względem ryzyka i efektywności ‒ podejście klasyczne i alternatywne


Mościbrodzka, Monika ; Homa, Magdalena

Subject and Keywords:

risk and efficiency ; investment funds ; classic measures ; multidimensional comparison analysis ; alternative measures


The subject of the article focuses on the classification of the investment funds in terms of similarity in terms of risk and investment efficiency. This knowledge will enable the investor to make decisions as to how to invest and possibly change the investment strategy by adjusting the composition of the portfolio to the market situation and optimizing the payment amount in the future. To this end, the tools of multidimensional comparative analysis were used, which allowed to create maps of similarity of the IF investigated (using classical and alternative measures) constituting the basis for further assessment of their homogeneity. The article shows that the classifications used by managers who measure the efficiency by the average rate of return, while as a measure of risk they use the standard deviation and the classic indicators, are not correct, because they confirm the homogeneity of the sample in spite of its absence. It has been shown, that it is necessary to apply alternative measures in the absence of asymmetry in the distribution of return rates.

Place of publishing:



E-Wydawnictwo. Prawnicza i Ekonomiczna Biblioteka Cyfrowa. Wydział Prawa, Administracji i Ekonomii Uniwersytetu Wrocławskiego


Ćwiąkała-Małys, Anna. Red. ; Karpińska, Marzena. Red. ; Wrzosek, Stefan. Rec.

Date issued:


Resource Type:



ISBN 978-83-66066-27-4 ; doi:10.23734/23.18.007


pol ; eng


(Prace Naukowe Wydziału Prawa, Administracji i Ekonomii Uniwersytetu Wrocławskiego) ; (Finanse i Rachunkowość / Zakład Zarządzania Finansami Instytutu Nauk Ekonomicznych, ISSN 2451-3938 ; nr 4)

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© Copyright by Magdalena Homa ; © Copyright by Monika Mościbrodzka