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En jämförelse av den riskjusterade avkastningen mellan aktiemarknaden och bostadsrättsinvesteringar.
Linnaeus University, School of Business and Economics, Department of Management.
Linnaeus University, School of Business and Economics, Department of Management.
2023 (Swedish)Independent thesis Advanced level (degree of Master (One Year)), 20 credits / 30 HE creditsStudent thesis
Abstract [en]

This is a study where the purpose is to investigate the risk-adjusted return and the correlation between the two investments, the stock market and the condominium market. In addition to this, it was analyzed how the two investments performed during the financial crisis and the covid-19 crisis.

Study is carried out to get answers to the eternal question of which of these two investments is considered the most suitable for both short-term or long-term investment goals where financial conditions are taken into account.

The study conducted various tests such as Pearson correlation test, volatility and regression models. The Sharpe ratio was used to measure the risk-adjusted return. These are carefully selected to see what returns the two investments give at different risks, as well as how the investments correlate with each other during crises and conditions of economic growth.

The conclusion reached by this study is that the investor should diversify and invest in both investments. This is because their risk versus return profile becomes more even by investing in both investments. When one investment does worse, the other investment will, according to the study's various tests, make the return and risk profile more stable. Despite the high correlation between the investments, diversification is useful in case of possible future economic crises.

Abstract [sv]

Detta är en studie där syftet är att undersöka den riskjusterade avkastningen samt korrelationen  mellan de två investeringarna aktiemarknaden och bostadsrättsmarknaden. Utöver detta analyserades hur de två investeringarna presterade under finanskrisen och covid-19-krisen. 

Studie är genomförd för att få svar på den eviga frågan om vilken av dessa två investeringar som anses vara lämpligast för både kortsiktiga eller långsiktiga investeringsmål där ekonomiska förhållanden tas i akt. 

Studien genomförde olika tester som Pearson korrelationstest, volatilitet och regressionsmodeller. Sharpekvoten användes  för att mäta den riskjusterade avkastningen. Dessa är noga utvalda för att se vad de två investeringarna ger för avkastning vid olika risker, samt hur investeringarna korrelerar med varandra under kriser och förhållanden vid ekonomisk tillväxt.

Slutsatsen som denna studie kom fram till är att investeraren bör diversifiera sig och investera i båda investeringarna. Detta på grund av att deras riskprofil kontra avkastning blir mer jämnare genom att investera i båda investeringarna. När den ena investeringen går sämre kommer den andra investeringen som enligt studiens olika tester att göra att avkastningen och riskprofilen blir mer stabil. Trots den höga korrelationen mellan investeringarna så är diversifiering användbar vid eventuella framtida ekonomiska kriser. 

Place, publisher, year, edition, pages
2023. , p. 75
Keywords [en]
OMXSPI, Stock Market, Condominium market, Risk, Sharpe ratio, Pearson correlation, CAPM, Diversification, Volatility
Keywords [sv]
OMXSPI, Aktiemarknaden, Bostadsrättsmarknaden, Risk, Sharpekvoten, Pearson korrelation, CAPM, Diversifiering, Volatilitet
National Category
Business Administration
Identifiers
URN: urn:nbn:se:lnu:diva-122191OAI: oai:DiVA.org:lnu-122191DiVA, id: diva2:1770555
Subject / course
Business Administration - Other
Educational program
Business Administration and Economics Programme, 240 credits
Supervisors
Examiners
Available from: 2023-06-21 Created: 2023-06-19 Last updated: 2023-06-21Bibliographically approved

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CiteExportLink to record
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Citation style
  • apa
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