tracking error

简明释义

偏航测定误差

英英释义

例句

1.A high tracking error 跟踪误差 may suggest that the portfolio manager is taking excessive risks.

高跟踪误差 跟踪误差可能表明投资组合经理承担了过多的风险。

2.The fund's tracking error 跟踪误差 was significantly lower than its benchmark, indicating strong performance.

该基金的跟踪误差 跟踪误差明显低于基准，表明表现强劲。

3.Fund managers aim to minimize tracking error 跟踪误差 to improve investor confidence.

基金经理旨在最小化跟踪误差 跟踪误差以提高投资者信心。

4.Investors often look for a low tracking error 跟踪误差 when selecting index funds.

投资者在选择指数基金时通常会寻找低跟踪误差 跟踪误差。

5.The tracking error 跟踪误差 of the ETF was analyzed to ensure it closely follows the underlying index.

对ETF的跟踪误差 跟踪误差进行了分析，以确保其紧密跟随基础指数。

作文

In the realm of finance and investment management, understanding various metrics is crucial for making informed decisions. One such important metric is the tracking error, which measures how closely a portfolio follows the index to which it is benchmarked. Essentially, the tracking error quantifies the deviation of a portfolio's returns from the returns of its benchmark index. This concept is particularly vital for investors who aim to replicate the performance of an index fund or exchange-traded fund (ETF). The tracking error is calculated as the standard deviation of the difference between the returns of the portfolio and the returns of the benchmark over a specific period. A low tracking error indicates that the portfolio closely mirrors the benchmark, while a high tracking error suggests significant divergence. For instance, if an investor holds an ETF designed to track the S&P 500, a low tracking error would signify that the ETF's performance is very similar to that of the S&P 500 index. Conversely, a high tracking error might indicate that the ETF is not performing in line with the index, potentially due to active management strategies or other factors.Understanding tracking error is essential for several reasons. Firstly, it helps investors gauge the effectiveness of a fund manager’s strategy. If a fund consistently exhibits a high tracking error without delivering superior returns, it may raise concerns about the manager’s ability to achieve the desired investment goals. Secondly, for passive investors, a low tracking error is often a sign of a well-managed fund that adheres closely to its stated investment objective.Moreover, the tracking error can provide insights into the risk associated with a particular investment strategy. A higher tracking error is generally associated with greater volatility and risk, as it indicates that the portfolio's performance is less predictable compared to the benchmark. Investors who are risk-averse may prefer funds with lower tracking error, as these funds tend to offer more stable returns relative to the benchmark.However, it is important to note that a low tracking error does not always equate to better performance. Some investors may seek out funds with higher tracking error as a means to achieve higher returns, accepting the associated risks. Therefore, the interpretation of tracking error should be contextualized within the investor's overall strategy and risk tolerance.In conclusion, the concept of tracking error plays a significant role in the evaluation of investment portfolios. By measuring the deviation of a portfolio's returns from its benchmark, investors can assess the effectiveness of fund management, understand the associated risks, and make more informed investment decisions. Whether one is a passive investor looking for stability or an active investor seeking higher returns, comprehending the implications of tracking error is essential in navigating the complex landscape of investment management.

在金融和投资管理领域，理解各种指标对于做出明智的决策至关重要。其中一个重要的指标是跟踪误差，它衡量一个投资组合与其基准指数之间的紧密程度。基本上，跟踪误差量化了投资组合收益与基准指数收益之间的偏差。这个概念对于那些旨在复制指数基金或交易所交易基金（ETF）表现的投资者尤其重要。跟踪误差的计算方式是将投资组合收益与基准收益之间的差异的标准差。低跟踪误差表明投资组合与基准非常相似，而高跟踪误差则表明存在显著的偏离。例如，如果一位投资者持有旨在跟踪标普500指数的ETF，低跟踪误差将表明该ETF的表现与标普500指数非常相似。相反，高跟踪误差可能表明该ETF未能与指数保持一致，这可能是由于主动管理策略或其他因素导致的。理解跟踪误差至关重要，原因有几个。首先，它帮助投资者评估基金经理策略的有效性。如果一只基金持续表现出高跟踪误差而没有提供优异的回报，可能会引发对经理实现预期投资目标能力的担忧。其次，对于被动投资者来说，低跟踪误差通常是一个良好管理基金的标志，该基金紧密遵循其既定的投资目标。此外，跟踪误差可以提供有关特定投资策略相关风险的见解。较高的跟踪误差通常与更大的波动性和风险相关，因为它表明投资组合的表现相比于基准更加不可预测。风险厌恶的投资者可能更倾向于选择低跟踪误差的基金，因为这些基金往往相对于基准提供更稳定的回报。然而，需要注意的是，低跟踪误差并不总是等同于更好的表现。一些投资者可能会寻找具有更高跟踪误差的基金，以实现更高的回报，接受相关风险。因此，跟踪误差的解释应在投资者的整体策略和风险承受能力的背景下进行。总之，跟踪误差的概念在投资组合评估中扮演着重要角色。通过测量投资组合收益与基准之间的偏差，投资者可以评估基金管理的有效性，理解相关风险，并做出更明智的投资决策。无论是寻求稳定的被动投资者，还是寻求更高回报的主动投资者，理解跟踪误差的含义对于在复杂的投资管理领域中导航至关重要。