Analýza indexových certifikátů

Abstract

The aim of this bachelor thesis is the analysis of index certificates. The optimal portfolio consisting of index certificates will be compiled on conclusions of the portfolio theory of Harry Markowitz by analyzing index certificates. The work is divided into three parts. The index certificates are described in the first part. There are described indicators which an investor should focus when buying certificates and there are characterized all the advantages and risks which are associated with an investment in the certificates. The second part is focused on stock market indices that are used as an underlying asset of index certificates. In order to transforming information represented by index value it is essential to know how the indexes are formed and which factors affect its change. That’s why price-weighted index and capitalization-weighted index are constructed. The optimal portfolio is compiled on the basis of analysis of index certificates in the third part of the thesis. Afterwards specific index certificates are selected and analyzed on the basis of the underlying assets based on the optimal portfolio. The results of analysis are summarized in last subchapter of the thesis.