SML

| 22-2月-2014 | 美国代写

SML

SML也解释了一个特定的股票价格过高,是否被低估或正确地定价。股市躺上面SML被低估,有望获得更高的回报相应的风险水平。他们被认为是被低估了,因为它的预期收益高于基于SML的回报。同样,股票躺下面SML估值过高的股票。股票绘制的SML正确定价。

 

SML可以帮助预测任何股票的预期收益。

SML可以帮助区分积极和防御性股票。测试版的市场之一,它作为一个参考评估股票的风险。股票有β> 1称为激进的股票。这些股票的风险,预计将获得更高的回报。

同样,股票有β< 1被称为防御型股票。这些股票是风险较小,因此可望获得较低的回报。

 

SML也有助于确定股票价格过高,低估或正确地定价。躺上面SML的股票价值被低估的股票。这是因为他们的预期收益大于基于SML的回报。因此这些股票有望获得更高的回报相应的风险。同样,股票,低于SML定价过高的股票。这些股票被认为价格过高,因为他们的预期收益低于基于SML的回报,可望获得返回相应的风险水平较低。

SML

SML also explains whether a particular stock is overpriced, underpriced or correctly priced. Stocks lying above the SML are undervalued and are expected to earn a higher return corresponding to the risk level. They are considered undervalued because its expected return is higher than the SML based return. Similarly, stocks lying below the SML are overvalued stocks. Stocks plotted on top of the SML are correctly priced.

SML can assist in predicting the expected return of any stock.
SML can help distinguish between an aggressive and a defensive stock. As the Beta of the market is one, it acts as a reference to evaluate the riskiness of the stock. A stock having β>1 is termed as aggressive stock. These stocks are riskier and are expected to earn a higher return.
Similarly, stocks having β<1 are called defensive stocks. These stocks are less risky and hence are expected to earn a lower return.

SML also helps determine whether the stocks are overpriced, underpriced or correctly priced. Stocks that lie above the SML are undervalued stocks. This is because their expected return is greater than the SML based return. Hence these stocks are expected to earn a higher return corresponding to their level of risk. Similarly, stocks that lie below the SML are overpriced stocks. These stocks are considered as overpriced because their expected return is lower than the SML based returns and are expected to earn a lower return corresponding their risk level.

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