NO.PZ2015122802000044
问题如下:
An analyst gathers the following information for an equal-weighted index comprised of assets Able, Baker, and Charlie:
The total return of the index is:
选项:
A.
5.0%.
B.
7.9%.
C.
11.4%.
解释:
C is correct.
The total return of an index is calculated on the basis of the change in price of the underlying securities plus the sum of income received or the sum of the weighted total returns of each security. The total return of Able is 27.5 percent; of Baker is 0 percent; and of Charlie is 6.7 percent:
Able: (12 – 10 + 0.75)/10 = 27.5%
Baker: (19 – 20 + 1)/20 = 0%
Charlie: (30 – 30 + 2)/30 = 6.7%
An equal-weighted index applies the same weight (1/3) to each security’s return; therefore, the total return =1/3 × (27.5% + 0% + 6.7%) = 11.4%.
考点:Methods of index construction
这道题让我们计算的是等权重构建方法下的指数的total return,所以我们首先要区分price return和total return,计算total return需要包括期间的收益即股息。第二,这里是等权重的构建方法,等权重相当于每只股票买了相同的金额,那么我们就先计算每种股票的收益率再除以股票种类。
那些是需要考虑div哪些不需要哇