abnormal return

简明释义

异常返回

英英释义

例句

1.Analysts calculated the abnormal return 异常收益 to assess the impact of the new regulation.

分析师计算了异常收益以评估新规的影响。

2.Investors were surprised by the abnormal return 异常收益 of the tech stocks last quarter.

投资者对上个季度科技股的异常收益感到惊讶。

3.The stock market experienced an abnormal return 异常收益 following the announcement of the merger.

在合并公告后，股市经历了一个异常收益。

4.A significant abnormal return 异常收益 was observed in the pharmaceutical sector after the drug approval.

在药物获批后，制药行业观察到了显著的异常收益。

5.The fund manager reported an abnormal return 异常收益 compared to the market benchmark.

基金经理报告了与市场基准相比的异常收益。

作文

In the world of finance, investors are constantly seeking ways to maximize their returns. One important concept that plays a crucial role in understanding investment performance is the idea of abnormal return. An abnormal return refers to the difference between the actual return of an investment and the expected return based on a benchmark or market index. It is a measure that helps investors determine how well an investment has performed relative to what was anticipated. Understanding abnormal return can provide valuable insights into the effectiveness of investment strategies and the overall market environment.To illustrate this concept, let’s consider a hypothetical scenario. Imagine an investor who purchases shares of a company expecting a 10% return over a year based on historical data and market trends. However, at the end of the year, the investor finds that the stock has actually returned 15%. In this case, the abnormal return would be 5% (15% actual return - 10% expected return). This positive abnormal return indicates that the investment outperformed expectations, which could be due to various factors such as better-than-expected company performance, favorable market conditions, or successful product launches.On the other hand, if the same investor had experienced a return of only 5%, the abnormal return would be -5% (5% actual return - 10% expected return). This negative abnormal return suggests underperformance compared to the expected benchmark, prompting the investor to reassess their investment strategy or the fundamentals of the company they invested in.The significance of abnormal return extends beyond individual investments. It is also a critical metric used by analysts and portfolio managers to evaluate the performance of mutual funds, hedge funds, and other investment vehicles. By analyzing abnormal return, these professionals can identify which funds are consistently delivering superior performance and which are lagging behind. This analysis is essential for making informed decisions about where to allocate capital.Moreover, abnormal return can also indicate market efficiency. According to the Efficient Market Hypothesis (EMH), it suggests that all available information is already reflected in stock prices. If stocks consistently generate abnormal return, it may imply that the market is not fully efficient and that there are opportunities for investors to exploit mispriced assets. Conversely, if abnormal return is negligible across the board, it reinforces the notion that markets are efficient, and generating excess returns becomes increasingly challenging.In conclusion, the concept of abnormal return is vital for investors and financial analysts alike. It serves as a benchmark for measuring investment performance and aids in the evaluation of different investment strategies. By understanding abnormal return, investors can make more informed decisions, adapt their strategies, and ultimately achieve better financial outcomes. As the financial landscape continues to evolve, the importance of grasping concepts like abnormal return will remain paramount for anyone looking to succeed in the investment world.

在金融世界中，投资者不断寻求最大化回报的方法。一个在理解投资表现中起着关键作用的重要概念是“异常收益”的概念。“异常收益”指的是投资的实际收益与基准或市场指数预期收益之间的差异。这是一个帮助投资者确定投资相对于预期表现的衡量标准。理解“异常收益”可以为投资策略的有效性和整体市场环境提供有价值的见解。为了说明这个概念，让我们考虑一个假设场景。假设一位投资者购买了一家公司的股票，预计在一年内获得10%的收益，基于历史数据和市场趋势。然而，在年末，投资者发现股票实际上回报了15%。在这种情况下，“异常收益”将是5%（15%实际收益 - 10%预期收益）。这个正的“异常收益”表明投资超出了预期，这可能是由于多种因素，例如公司表现好于预期、市场条件有利或成功的产品发布。另一方面，如果同样的投资者经历的回报仅为5%，那么“异常收益”将为-5%（5%实际收益 - 10%预期收益）。这个负的“异常收益”暗示着相较于预期基准的表现不佳，促使投资者重新评估他们的投资策略或所投资公司的基本面。“异常收益”的重要性不仅限于单个投资。它也是分析师和投资组合经理用于评估共同基金、对冲基金和其他投资工具表现的关键指标。通过分析“异常收益”，这些专业人士可以识别哪些基金持续提供优越的表现，哪些则滞后。这种分析对于做出关于资金分配的明智决定至关重要。此外，“异常收益”还可以指示市场效率。根据有效市场假说（EMH），它表明所有可用信息已经反映在股票价格中。如果股票持续产生“异常收益”，这可能暗示市场并不完全有效，投资者可能有机会利用错误定价的资产。相反，如果“异常收益”在各个方面都微不足道，那么这进一步强化了市场有效的观念，获得超额回报变得越来越具有挑战性。总之，“异常收益”的概念对于投资者和金融分析师而言至关重要。它作为衡量投资表现的基准，并有助于评估不同的投资策略。通过理解“异常收益”，投资者可以做出更明智的决策，调整他们的策略，最终实现更好的财务结果。随着金融环境的不断演变，掌握像“异常收益”这样的概念对于任何希望在投资领域取得成功的人来说仍将是至关重要的。