The Comparison of 4433-Rule and 5050-Rule－An Analysis of Large-Cap Onshore Funds

• Main Authors: Wei-Ting Chou, 周瑋婷
• Other Authors: 謝益智
• Format: Others
• Language: zh-TW
• Published: 2011
• Online Access: http://ndltd.ncl.edu.tw/handle/juvt34

碩士 === 國立虎尾科技大學 === 工業工程與管理研究所 === 99 === Recently, dollar-cost averaging strategy has become a major investment approach of mutual funds. Many researchers have devoted to the theoretical part and practical part of dollar-cost averaging strategy. In addition, how to filter out suitable investment target is often discussed. The main purpose of this study is to compare the performance of various funds that filter out by 4433-rule and 5050 rule. Moreover, we also analyze the performance of funds that filter out by both 4433-rule and 5050 rule simultaneously. For large-cap onshore funds, numerical results show that, funds by 4433-rule perform better. Additionally, in this thesis, we applied the "winner-winner, winner-loser" methodology to verify whether the ranking of funds possesses the property of persistency. Numerical results show that the performance of funds are stable, that is, the weaker funds in the past are still weak. Besides, in this thesis, we find that it is better to adopt the long-term investment strategy to obtain more profits for stronger funds.