Vplyv COVID-19 a konfliktu na Ukrajine na výnos a riziko akcií indexu DJIA

Abstract

Every crisis has an impact on the global economy, on national economies and also causes disruptions in the financial market. Economic theory expects repeated economic crises. In the past, economic crises were mostly a rare phenomenon. Currently, the frequency of their outbreaks is higher. Therefore it can be assumed with certainty that the crisis caused by Covid-19 and the crisis caused by the conflict in Ukraine are not the last global crises that will affect the global economy and, therefore, the world financial and stock markets. In history, every recession in the stock markets was only temporary, so investing during a crisis is also of great opportunity, even if it has its peculiarities. When investing, the investor must emphasize a certain level of risk and the expected returns. The contribution aims to present the possible use of income and risk analysis in investment operations by investors so that an unquestionable certainty of the invested financial amount and a satisfactory return are ensured. The analysis of these indicators was carried out on historical data of selected components of the stock index Dow Jones Industrial Average (DJIA) in the pre-crisis period, in the crisis period caused by the Covid-19 virus, and in the crisis period caused by the war conflict in Ukraine. The presented approach of analysing the returns and risk of DJIA index shares provides the investor with an effective tool for deciding on the placement of available funds on the financial market in individual segments in all three monitored periods.

Keywords

• return
• risk
• cvar
• cddar
• crisis covid-19
• conflict in ukraine