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粉红豹 · 2020年03月28日

问一道题:NO.PZ201809170400000303

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问题如下:

The initial benchmark used for the US large-cap allocation:

选项:

A.

is unaffected by stocks splits.

B.

is essentially a liquidity-weighted index.

C.

holds the same number of shares in each component stock.

解释:

C is correct. The initial benchmark used for the US large-cap allocation is a price-weighted index. In a price-weighted index, the weight of each stock is its price per share divided by the sum of all the share prices in the index. As a result, a price-weighted index can be interpreted as a portfolio composed of one share of each constituent security.

老师好,请教下, 对于A选项本身想多请教下,请问unaffected by stocks splits 的方法是哪几个啊?我确定的是市值为权重的话符合这个条件,请教下别的方法受stock split影响吗?

1 个答案
已采纳答案

袁园_品职助教 · 2020年03月29日

同学你好!

以下三种 index,我们可以逐个分析一下:

1. Price-weighted 即每支股票买相同份数,即根据股价分配金额,stock split 对股价有影响,所以对这种 index 也有影响

2. Equally-weighted 即每支股票买相同金额,即无论高价股低价股,都买这么多钱,所以不受股价影响,也就不受 stock split 影响

3. Market-cap-weighted 即根据市值确定权重,stock split 不影响市值,也就不影响这种方法构建的 index