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Sector Rotation
Sector rotation is a theory of stock market trading patterns. In this context, a sector is understood to mean a group of stocks representing companies in similar lines of business. The basic premise is that these stocks can be expected to perform similarly. Additionally, different groups of stocks which have been clustered according to the aforementioned principle will show differing performance. Sector rotation theory says a number of things. First, whichever sector is hot (has done well recently) should continue to outperform. Second, these sectors will eventually rotate so that whatever was once out of favor will be in favor. Third, these movements are somewhat predictable, and connected with the business cycle. With the phase-shift in the performance cycle of sectors (ideally like the phase-shifted wave patterns of three-phase electric power) an investor could continually hop from a sector at the peak of performance to a sector showing a potential to rise. A sector rotation inv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stock Market
A stock market, equity market, or share market is the aggregation of buyers and sellers of stocks (also called shares), which represent ownership claims on businesses; these may include ''securities'' listed on a public stock exchange, as well as stock that is only traded privately, such as shares of private companies which are sold to investors through equity crowdfunding platforms. Investment is usually made with an investment strategy in mind. Size of the market The total market capitalization of all publicly traded securities worldwide rose from US$2.5 trillion in 1980 to US$93.7 trillion at the end of 2020. , there are 60 stock exchanges in the world. Of these, there are 16 exchanges with a market capitalization of $1 trillion or more, and they account for 87% of global market capitalization. Apart from the Australian Securities Exchange, these 16 exchanges are all in North America, Europe, or Asia. By country, the largest stock markets as of January 2022 are in th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Recognized Economic Sectors
One classical breakdown of economic activity distinguishes three sectors: * Primary: involves the retrieval and production of raw-material commodities, such as corn, coal, wood or iron. Miners, farmers and fishermen are all workers in the primary sector. * Secondary: involves the transformation of raw or intermediate materials into goods, as in steel into cars, or textiles into clothing. Builders and dressmakers work in the secondary sector. * Tertiary: involves the supplying of services to consumers and businesses, such as babysitting, cinemas or banking. Shopkeepers and accountants work in the tertiary sector. In the 20th century, economists began to suggest that traditional tertiary services could be further distinguished from "quaternary" and quinary service sectors. Economic activity in the hypothetical quaternary sector comprises information- and knowledge-based services, while quinary services include industries related to human services and hospitality. Economic th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Cycle
Business cycles are intervals of Economic expansion, expansion followed by recession in economic activity. These changes have implications for the welfare of the broad population as well as for private institutions. Typically business cycles are measured by examining trends in a broad economic indicator such as Real Gross Domestic Production. Business cycle fluctuations are usually characterized by general upswings and downturns in a span of macroeconomic variables. The individual episodes of expansion/recession occur with changing duration and intensity over time. Typically their periodicity has a wide range from around 2 to 10 years (the technical phrase "stochastic cycle" is often used in statistics to describe this kind of process.) As in [Harvey, Trimbur, and van Dijk, 2007, ''Journal of Econometrics''], such flexible knowledge about the frequency of business cycles can actually be included in their mathematical study, using a Bayesian statistical paradigm. There are numer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Phase-shift
In physics and mathematics, the phase of a periodic function F of some real variable t (such as time) is an angle-like quantity representing the fraction of the cycle covered up to t. It is denoted \phi(t) and expressed in such a scale that it varies by one full turn as the variable t goes through each period (and F(t) goes through each complete cycle). It may be measured in any angular unit such as degrees or radians, thus increasing by 360° or 2\pi as the variable t completes a full period. This convention is especially appropriate for a sinusoidal function, since its value at any argument t then can be expressed as \phi(t), the sine of the phase, multiplied by some factor (the amplitude of the sinusoid). (The cosine may be used instead of sine, depending on where one considers each period to start.) Usually, whole turns are ignored when expressing the phase; so that \phi(t) is also a periodic function, with the same period as F, that repeatedly scans the same range o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Three-phase Electric Power
Three-phase electric power (abbreviated 3φ) is a common type of alternating current used in electricity generation, transmission, and distribution. It is a type of polyphase system employing three wires (or four including an optional neutral return wire) and is the most common method used by electrical grids worldwide to transfer power. Three-phase electrical power was developed in the 1880s by multiple people. Three-phase power works by the voltage and currents being 120 degrees out of phase on the three wires. As an AC system it allows the voltages to be easily stepped up using transformers to high voltage for transmission, and back down for distribution, giving high efficiency. A three-wire three-phase circuit is usually more economical than an equivalent two-wire single-phase circuit at the same line to ground voltage because it uses less conductor material to transmit a given amount of electrical power. Three-phase power is mainly used directly to power large induction ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tactical Asset Allocation
Tactical asset allocation (TAA) is a dynamic investment strategy that actively adjusts a portfolio's asset allocation. The goal of a TAA strategy is to improve the risk-adjusted returns of passive management investing. Strategy descriptions TAA strategies can be either discretionary or systematic. Discretionary In discretionary tactical asset allocation strategies, an investor modifies his asset allocation according to the valuation of the markets in which they are invested. Thus, someone who invested heavily in stocks might reduce their position when they perceive that other securities, such as bonds, are poised to outperform stocks. Unlike stock picking, in which the investor predicts which individual stocks will perform well, tactical asset allocation involves only judgments of the future return of complete markets or sectors. As such, some practitioners perceive it as a natural supplement to mutual fund investing, including passive management investing. Systematic Systemati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Basic Material
Building material is material used for construction. Many naturally occurring substances, such as clay, rocks, sand, wood, and even twigs and leaves, have been used to construct buildings. Apart from naturally occurring materials, many man-made products are in use, some more and some less synthetic. The manufacturing of building materials is an established industry in many countries and the use of these materials is typically segmented into specific specialty trades, such as carpentry, insulation, plumbing, and roofing work. They provide the make-up of habitats and structures including homes. The total cost of building materials In history, there are trends in building materials from being natural to becoming more man-made and composite; biodegradable to imperishable; indigenous (local) to being transported globally; repairable to disposable; chosen for increased levels of fire-safety, and improved seismic resistance. These trends tend to increase the ''initial'' and ''lon ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Semiconductor
A semiconductor is a material which has an electrical resistivity and conductivity, electrical conductivity value falling between that of a electrical conductor, conductor, such as copper, and an insulator (electricity), insulator, such as glass. Its electrical resistivity and conductivity, resistivity falls as its temperature rises; metals behave in the opposite way. Its conducting properties may be altered in useful ways by introducing impurities ("doping (semiconductor), doping") into the crystal structure. When two differently doped regions exist in the same crystal, a semiconductor junction is created. The behavior of charge carriers, which include electrons, ions, and electron holes, at these junctions is the basis of diodes, transistors, and most modern electronics. Some examples of semiconductors are silicon, germanium, gallium arsenide, and elements near the so-called "metalloid staircase" on the periodic table. After silicon, gallium arsenide is the second-most common s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Currency
A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a ''system of money'' in common use within a specific environment over time, especially for people in a nation state. Under this definition, the British Pound Sterling (£), euros (€), Japanese yen (¥), and U.S. dollars (US$)) are examples of (government-issued) fiat currencies. Currencies may act as stores of value and be traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are either chosen by users or decreed by governments, and each type has limited boundaries of acceptance - i.e. legal tender laws may require a particular unit of account for payments to government agencies. Other definitions of the term "curren ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Style Investing
Style investing is an investment approach in which securities are grouped into categories and portfolio allocation based on selection among styles rather than among individual securities. Style investors can make portfolio allocation decisions by placing their money in broad categories of assets, such as small-cap, value, low-volatility, or emerging markets. Some investors dynamically allocate across different styles and move funds back and forth between these styles depending on their expected performance. Asset pricing Style investing can be used in the study of asset prices and can serve as a useful framework for identifying anomalous price movements in stocks and study the relation between risk and return in asset pricing models. Style investing generates co-movement between individual assets and their styles. Momentum and reversal patterns exist both at style level and security level and style investing plays an important role in the predictability of returns. Barberis an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
