{"id":74016,"date":"2026-09-06T18:58:56","date_gmt":"2026-09-06T10:58:56","guid":{"rendered":"https:\/\/mister.forex\/?page_id=74016"},"modified":"2026-09-06T19:05:01","modified_gmt":"2026-09-06T11:05:01","slug":"calmar-ratio-asset-allocation","status":"publish","type":"page","link":"https:\/\/mister.forex\/cs\/calmar-ratio-asset-allocation\/","title":{"rendered":"Glob\u00e1ln\u00ed alokace aktiv: Srovn\u00e1n\u00ed akci\u00ed, Bitcoinu, zlata a kvantitativn\u00edch strategi\u00ed pomoc\u00ed Calmarova pom\u011bru"},"content":{"rendered":"<div data-elementor-type=\"wp-page\" data-elementor-id=\"74016\" class=\"elementor elementor-74016\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-12d5f9c e-flex e-con-boxed e-con e-parent\" data-id=\"12d5f9c\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-74bb8ff elementor-widget elementor-widget-heading\" data-id=\"74bb8ff\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Nehle\u010fte jen na v\u00fdnosy: Kolik rizika skute\u010dn\u011b podstupujete?<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9aee5c0 elementor-widget elementor-widget-html translation-block\" data-id=\"9aee5c0\" data-element_type=\"widget\" data-widget_type=\"html.default\"><span>\n<h2><strong>\u00davod: Znamenaj\u00ed vysok\u00e9 v\u00fdnosy opravdu skv\u011blou investici?<\/strong><\/h2>\n\nInvesti\u010dn\u00ed trh n\u00e1s \u010dasto l\u00e1k\u00e1 p\u016fsobiv\u00fdmi \u010d\u00edsly v\u00fdnos\u016f.\n<br><br>\n\nTechnologick\u00e9 akcie mohou b\u011bhem b\u00fd\u010d\u00edho trhu prudce r\u016fst, Bitcoin v minulosti p\u0159inesl ohromuj\u00edc\u00ed zisky\n<br><br>\n\na ur\u010dit\u00e9 obchodn\u00ed strategie mohou v kr\u00e1tk\u00fdch obdob\u00edch vykazovat oslniv\u00e9 v\u00fdsledky.\n<br><br>\n\nSnadno tak dosp\u011bjeme k intuitivn\u00edmu z\u00e1v\u011bru:\n<br><br>\n\n\u010c\u00edm vy\u0161\u0161\u00ed v\u00fdnos, t\u00edm lep\u0161\u00ed investice.\n<br><br>\n\nV praxi v\u0161ak zjist\u00edte, \u017ee to nen\u00ed tak jednoduch\u00e9.\n<br><br>\n\nI kdy\u017e aktivum dosahuje skv\u011bl\u00fdch dlouhodob\u00fdch v\u00fdnos\u016f,\n<br><br>\n\npokud b\u011bhem cesty za\u017eije pokles o 50 %, 60 % nebo i v\u00edce,\n<br><br>\n\ndok\u00e1\u017eete jej skute\u010dn\u011b d\u00e1l dr\u017eet?\n<br><br>\n\nProto mus\u00edte p\u0159i hodnocen\u00ed investice vedle ot\u00e1zky \u201ekolik vyd\u011blala\u201c v\u011bd\u011bt i to:\n<br><br>\n\n<strong>\u201eJak velk\u00fd pokles bylo nutn\u00e9 podstoupit pro dosa\u017een\u00ed tohoto v\u00fdnosu?\u201c<\/strong>\n<br><br>\n\n\n<h2><strong>Calmar\u016fv pom\u011br: Hodnocen\u00ed v\u00fdnosu v kontextu poklesu<\/strong><\/h2>\n\nKoncepce Calmarova pom\u011bru (Calmar Ratio) je jednoduch\u00e1:\n<br><br>\n\n<strong>Calmar\u016fv pom\u011br \uff1d Ro\u010dn\u00ed v\u00fdnos \u00f7 Maxim\u00e1ln\u00ed pokles<\/strong>\n<br><br>\n\nOdpov\u00edd\u00e1 na velmi p\u0159\u00edmo\u010darou ot\u00e1zku:\n<br><br>\n\n<strong>\u201eJak efektivn\u00ed je v\u00fdnos t\u00e9to investice vzhledem k maxim\u00e1ln\u00edmu poklesu, kter\u00fd za\u017eila?\u201c<\/strong><br>\n<br>\nNap\u0159\u00edklad:\n<br><br>\n\n<ul>\n<li><strong>Strategie A<\/strong>: Ro\u010dn\u00ed v\u00fdnos 50 %, Maxim\u00e1ln\u00ed pokles 50 % \u2192 Calmar\u016fv pom\u011br = 1,0<\/li>\n<li><strong>Strategie B<\/strong>: Ro\u010dn\u00ed v\u00fdnos 25 %, Maxim\u00e1ln\u00ed pokles 10 % \u2192 Calmar\u016fv pom\u011br = 2,5<\/li>\n<\/ul>\n<br>\n\nP\u0159i pohledu pouze na ro\u010dn\u00ed v\u00fdnos v\u00edt\u011bz\u00ed Strategie A.\n<br><br>\n\nStrategie B v\u0161ak utrp\u011bla v\u00fdrazn\u011b ni\u017e\u0161\u00ed historick\u00fd pokles v pom\u011bru k v\u00fdnosu,\n<br><br>\n\n\u010d\u00edm\u017e dosahuje l\u00e9pe vyv\u00e1\u017een\u00e9ho pom\u011bru rizika a v\u00fdnosu.\n<br><br>\n\nTo neznamen\u00e1, \u017ee je B univerz\u00e1ln\u011b lep\u0161\u00ed investic\u00ed ne\u017e A,\n<br><br>\n\nale ukazuje n\u00e1m to kl\u00ed\u010dovou v\u011bc:\n<br><br>\n\n<strong>P\u0159i hodnocen\u00ed investice nelze hled\u011bt jen na kone\u010dn\u00fd zisk, ale i na pr\u016fb\u011bh cesty.<\/strong><br>\n<br>\nPro kompletn\u00ed definici maxim\u00e1ln\u00edho poklesu a jeho dopadu na kapit\u00e1l si p\u0159e\u010dt\u011bte:\n\n<\/span><\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8a5ecc4 elementor-icon-list--layout-inline elementor-list-item-link-inline elementor-widget__width-auto elementor-widget elementor-widget-icon-list\" data-id=\"8a5ecc4\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items elementor-inline-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/mister.forex\/cs\/return-vs-risk\/\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-check-circle\" viewbox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 48c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m140.204 130.267l-22.536-22.718c-4.667-4.705-12.265-4.736-16.97-.068L215.346 303.697l-59.792-60.277c-4.667-4.705-12.265-4.736-16.97-.069l-22.719 22.536c-4.705 4.667-4.736 12.265-.068 16.971l90.781 91.516c4.667 4.705 12.265 4.736 16.97.068l172.589-171.204c4.704-4.668 4.734-12.266.067-16.971z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Pro\u010d n\u011bkomu p\u0159ipad\u00e1 ro\u010dn\u00ed v\u00fdnos 20\u201335 % n\u00edzk\u00fd?<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-321f1a5 elementor-widget elementor-widget-html translation-block\" data-id=\"321f1a5\" data-element_type=\"widget\" data-widget_type=\"html.default\"><span>\nZde se zam\u011b\u0159\u00edme na: <strong>Jak pomoc\u00ed Calmarova pom\u011bru porovnat kvalitu v\u00fdnos\u016f r\u016fzn\u00fdch aktiv.<\/strong>\n<br><br>\n\n\n<h2><strong>Srovn\u00e1n\u00ed glob\u00e1ln\u00edch aktiv: Vysok\u00fd v\u00fdnos neznamen\u00e1 vysokou efektivitu<\/strong><\/h2>\n\nP\u0159i porovn\u00e1n\u00ed b\u011b\u017en\u00fdch aktiv a kvantitativn\u00edch strategi\u00ed si v\u0161imneme jasn\u00e9ho vzorce:\n<br><br>\n\n<strong>Aktiva s nejvy\u0161\u0161\u00edmi v\u00fdnosy nemus\u00ed m\u00edt nejlep\u0161\u00ed efektivitu z hlediska rizika a v\u00fdnosu.<\/strong>\n<\/span><\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5e6cca8 elementor-widget elementor-widget-html\" data-id=\"5e6cca8\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<span>\n<div style=\"overflow-x: auto; -webkit-overflow-scrolling: touch;\">\n    <table style=\"width: 100%; min-width: 650px; border-collapse: separate; border-spacing: 0; border: 1px solid #2D4273; border-radius: 6px; text-align: center; font-family: 'Inter', sans-serif; overflow: hidden;\">\n        <thead>\n            <tr style=\"background-color: #15264D; color: #ffffff;\">\n                <th style=\"padding: 15px; border-right: 1px solid #ffffff; border-bottom: 1px solid #2D4273;\"><strong>T\u0159\u00edda aktiv<\/strong><\/th>\n                <th style=\"padding: 15px; border-right: 1px solid #ffffff; border-bottom: 1px solid #2D4273;\"><strong>Ro\u010dn\u00ed v\u00fdnos<\/strong><\/th>\n                <th style=\"padding: 15px; border-right: 1px solid #ffffff; border-bottom: 1px solid #2D4273;\"><strong>Maxim\u00e1ln\u00ed pokles<\/strong><\/th>\n                <th style=\"padding: 15px; border-right: 1px solid #ffffff; border-bottom: 1px solid #2D4273;\"><strong>Calmar\u016fv pom\u011br<\/strong><\/th>\n                <th style=\"padding: 15px; border-bottom: 1px solid #2D4273;\"><strong>Investi\u010dn\u00ed komfort<\/strong><\/th>\n            <\/tr>\n        <\/thead>\n        <tbody>\n            <tr>\n                <td style=\"padding: 15px; border-right: 1px solid #2D4273; border-bottom: 1px solid #2D4273;\"><strong>Quant Matrix<\/strong><\/td>\n                <td style=\"padding: 15px; border-right: 1px solid #2D4273; border-bottom: 1px solid #2D4273;\">20%<\/td>\n                <td style=\"padding: 15px; border-right: 1px solid #2D4273; border-bottom: 1px solid #2D4273;\"><strong style=\"color: #00AA54;\">12%<\/strong><\/td>\n                <td style=\"padding: 15px; border-right: 1px solid #2D4273; border-bottom: 1px solid #2D4273;\"><strong style=\"color: #00AA54;\">1.67<\/strong><\/td>\n                <td style=\"padding: 15px; border-bottom: 1px solid #2D4273;\"><strong>Relativn\u011b stabiln\u00ed<\/strong><\/td>\n            <\/tr>\n            <tr>\n                <td style=\"padding: 15px; border-right: 1px solid #2D4273; border-bottom: 1px solid #2D4273;\"><strong>Alpha Gold<\/strong><\/td>\n                <td style=\"padding: 15px; border-right: 1px solid #2D4273; border-bottom: 1px solid #2D4273;\">35%<\/td>\n                <td style=\"padding: 15px; border-right: 1px solid #2D4273; border-bottom: 1px solid #2D4273;\"><strong style=\"color: #00AA54;\">25%<\/strong><\/td>\n                <td style=\"padding: 15px; border-right: 1px solid #2D4273; border-bottom: 1px solid #2D4273;\"><strong style=\"color: #00AA54;\">1.40<\/strong><\/td>\n                <td style=\"padding: 15px; border-bottom: 1px solid #2D4273;\"><strong>Stabiln\u00ed r\u016fst<\/strong><\/td>\n            <\/tr>\n            <tr>\n                <td style=\"padding: 15px; border-right: 1px solid #2D4273; border-bottom: 1px solid #2D4273;\">Technologick\u00e9 akcie<\/td>\n                <td style=\"padding: 15px; border-right: 1px solid #2D4273; border-bottom: 1px solid #2D4273;\">30%~70%<\/td>\n                <td style=\"padding: 15px; border-right: 1px solid #2D4273; border-bottom: 1px solid #2D4273;\">40%~60%<\/td>\n                <td style=\"padding: 15px; border-right: 1px solid #2D4273; border-bottom: 1px solid #2D4273;\">1.00<\/td>\n                <td style=\"padding: 15px; border-bottom: 1px solid #2D4273;\">Vy\u0161\u0161\u00ed volatilita<\/td>\n            <\/tr>\n            <tr>\n                <td style=\"padding: 15px; border-right: 1px solid #2D4273; border-bottom: 1px solid #2D4273;\">Kryptom\u011bny (BTC)<\/td>\n                <td style=\"padding: 15px; border-right: 1px solid #2D4273; border-bottom: 1px solid #2D4273;\">60%<\/td>\n                <td style=\"padding: 15px; border-right: 1px solid #2D4273; border-bottom: 1px solid #2D4273;\">75%<\/td>\n                <td style=\"padding: 15px; border-right: 1px solid #2D4273; border-bottom: 1px solid #2D4273;\">0.80<\/td>\n                <td style=\"padding: 15px; border-bottom: 1px solid #2D4273;\">Extr\u00e9mn\u00ed volatilita<\/td>\n            <\/tr>\n            <tr>\n                <td style=\"padding: 15px; border-right: 1px solid #2D4273; border-bottom: 1px solid #2D4273;\">Index S&amp;P 500<\/td>\n                <td style=\"padding: 15px; border-right: 1px solid #2D4273; border-bottom: 1px solid #2D4273;\">12%<\/td>\n                <td style=\"padding: 15px; border-right: 1px solid #2D4273; border-bottom: 1px solid #2D4273;\">50%<\/td>\n                <td style=\"padding: 15px; border-right: 1px solid #2D4273; border-bottom: 1px solid #2D4273;\">0.24<\/td>\n                <td style=\"padding: 15px; border-bottom: 1px solid #2D4273;\">St\u0159edn\u00ed volatilita<\/td>\n            <\/tr>\n            <tr>\n                <td style=\"padding: 15px; border-right: 1px solid #2D4273;\">Bezpe\u010dn\u00e9 p\u0159\u00edstavy (Zlato)<\/td>\n                <td style=\"padding: 15px; border-right: 1px solid #2D4273;\">8%<\/td>\n                <td style=\"padding: 15px; border-right: 1px solid #2D4273;\">25%<\/td>\n                <td style=\"padding: 15px; border-right: 1px solid #2D4273;\">0.32<\/td>\n                <td style=\"padding: 15px;\">Defenzivn\u00ed aktivum<\/td>\n            <\/tr>\n        <\/tbody>\n    <\/table>\n<\/div>\n<\/span>\n<\/span>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dce7ccb elementor-widget elementor-widget-html translation-block\" data-id=\"dce7ccb\" data-element_type=\"widget\" data-widget_type=\"html.default\"><span>\n<strong>* Historick\u00e1 data slou\u017e\u00ed pouze pro informaci. Minul\u00e1 v\u00fdkonnost nen\u00ed z\u00e1rukou budouc\u00edch v\u00fdsledk\u016f.<\/strong>\n<br><br>\n\nNa t\u00e9to tabulce nen\u00ed nejd\u016fle\u017eit\u011bj\u0161\u00ed to, kdo se um\u00edstil na prvn\u00edm m\u00edst\u011b, ale \u017ee:\n<br><br>\n\n<strong>R\u016fzn\u00e1 investi\u010dn\u00ed aktiva dosahuj\u00ed v\u00fdnos\u016f zcela odli\u0161n\u00fdmi zp\u016fsoby.<\/strong>\n<br><br>\n\n<ul>\n<li><strong>Technologick\u00e9 akcie a Bitcoin<\/strong>:\n    <br><br>\n    \n    Mohou nab\u00eddnout obrovsk\u00fd dlouhodob\u00fd potenci\u00e1l r\u016fstu, ale investor mus\u00ed akceptovat vy\u0161\u0161\u00ed kol\u00eds\u00e1n\u00ed cen a hlub\u0161\u00ed historick\u00e9 poklesy.<\/li><br>\n    \n<li><strong>S&amp;P 500<\/strong>:\n    <br><br>\n    \n    \u010cerp\u00e1 v\u00fdnosy z dlouhodob\u00e9ho hospod\u00e1\u0159sk\u00e9ho r\u016fstu, ale b\u011bhem velk\u00fdch medv\u011bd\u00edch trh\u016f \u010di finan\u010dn\u00edch kriz\u00ed m\u016f\u017ee rovn\u011b\u017e zaznamenat v\u00fdrazn\u00fd pokles.<\/li><br>\n    \n<li><strong>Zlato<\/strong>:\n    <br><br>\n    \n    Slou\u017e\u00ed p\u0159edev\u0161\u00edm k ochran\u011b kapit\u00e1lu a zaji\u0161t\u011bn\u00ed; jeho hlavn\u00edm c\u00edlem nen\u00ed dosahov\u00e1n\u00ed nejvy\u0161\u0161\u00edch dlouhodob\u00fdch v\u00fdnos\u016f.<\/li>\n<\/ul>\n<br>\n\nHodnocen\u00ed kvantitativn\u00edch strategi\u00ed by nem\u011blo spo\u010d\u00edvat pouze v tom, kolik vyd\u011blaly za jedin\u00fd rok.\n<br><br>\n\nSkute\u010dn\u00e1 ot\u00e1zka zn\u00ed: <strong>Kolik n\u00e1klad\u016f v podob\u011b poklesu bylo nutn\u00e9 ob\u011btovat pro tyto v\u00fdnosy?<\/strong>\n<br><br>\n\n<h2><strong>Skute\u010dn\u00e1 cena poklesu: Nejde jen o psychick\u00fd tlak<\/strong><\/h2>\n\n\u010c\u00edm hlub\u0161\u00ed je pokles, t\u00edm v\u00edce procent je pot\u0159eba k obnoven\u00ed p\u016fvodn\u00edho kapit\u00e1lu.\n<br><br>\n\nPo 50% propadu je pot\u0159eba 100% n\u00e1r\u016fst jen k n\u00e1vratu na nulu\u2014\n<br><br>\n\nco\u017e je p\u0159i sledov\u00e1n\u00ed pouh\u00e9ho ro\u010dn\u00edho v\u00fdnosu to nejsnadn\u011bji p\u0159ehl\u00e9dnuteln\u00e9 riziko.\n<br><br>\n\nP\u0159i srovn\u00e1v\u00e1n\u00ed dvou investic bychom se nem\u011bli pt\u00e1t jen \u201ekter\u00e1 vyd\u011blala v\u00edce\u201c,\n<br><br>\n\nale tak\u00e9: <strong>\u201eP\u0159i jak velk\u00e9m poklesu bylo tohoto v\u00fdnosu dosa\u017eeno?\u201c<\/strong>\n<br><br>\n\nV tom spo\u010d\u00edv\u00e1 hodnota Calmarova pom\u011bru.\n<br><br>\n\nNerekompenzuje slep\u011b jen vysok\u00fd v\u00fdnos, ale bere v \u00favahu i maxim\u00e1ln\u00ed pokles.\n<br><br>\n\nNem\u011b\u0159\u00ed pouze rychlost investice,\n<br><br>\n\nale <strong>jak velk\u00fd propad musela vydr\u017eet, aby dos\u00e1hla t\u00e9to rychlosti.<\/strong>\n<\/span><\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3d630f1 elementor-widget elementor-widget-html\" data-id=\"3d630f1\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<h3><strong>Hodnot\u00edc\u00ed \u0161k\u00e1la Calmarova pom\u011bru<\/strong><\/h3>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4899001 e-grid e-con-full e-con e-child\" data-id=\"4899001\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-77b9af2 e-con-full e-flex e-con e-child\" data-id=\"77b9af2\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-513f9b1 elementor-widget elementor-widget-text-editor\" data-id=\"513f9b1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>&gt; 1.2<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-654d77d elementor-widget elementor-widget-text-editor\" data-id=\"654d77d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Vynikaj\u00edc\u00ed v\u00fdkonnost upraven\u00e1 o riziko<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a026d59 e-con-full e-flex e-con e-child\" data-id=\"a026d59\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4136b46 elementor-widget elementor-widget-text-editor\" data-id=\"4136b46\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>0.7 ~ 1.2<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-420c1e5 elementor-widget elementor-widget-text-editor\" data-id=\"420c1e5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Dobr\u00e1 investi\u010dn\u00ed efektivita<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4af129d e-con-full e-flex e-con e-child\" data-id=\"4af129d\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ff513d9 elementor-widget elementor-widget-text-editor\" data-id=\"ff513d9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>&lt; 0.7<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-eed7500 elementor-widget elementor-widget-text-editor\" data-id=\"eed7500\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Relativn\u011b ni\u017e\u0161\u00ed investi\u010dn\u00ed efektivita<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-95ea694 elementor-widget elementor-widget-html translation-block\" data-id=\"95ea694\" data-element_type=\"widget\" data-widget_type=\"html.default\"><span>\nRacion\u00e1ln\u011bj\u0161\u00ed vyu\u017eit\u00ed Calmarova pom\u011bru spo\u010d\u00edv\u00e1 v jeho pou\u017eit\u00ed jako srovn\u00e1vac\u00edho n\u00e1stroje.\n<br><br>\n\nAnalyzujte jej spole\u010dn\u011b s ro\u010dn\u00edm v\u00fdnosem, maxim\u00e1ln\u00edm poklesem, volatilitou, frekvenc\u00ed obchodov\u00e1n\u00ed a dal\u0161\u00edmi ukazateli,\n<br><br>\n\nm\u00edsto abyste investici ozna\u010dili za \u201edobrou\u201c nebo \u201e\u0161patnou\u201c na z\u00e1klad\u011b jedin\u00e9ho \u010d\u00edsla.\n<br><br>\n\n<h2><strong>Kvantitativn\u00ed strategie: Hodnocen\u00ed z pohledu rizika a v\u00fdnosu<\/strong><\/h2>\n\nKvantitativn\u00ed obchodov\u00e1n\u00ed se \u010dasto posuzuje jednoduchou ot\u00e1zkou: \u201eKolik dok\u00e1\u017ee vyd\u011blat za rok?\u201c\n<br><br>\n\nHodnocen\u00ed strategie pouze na z\u00e1klad\u011b t\u00e9to ot\u00e1zky v\u0161ak z\u016fst\u00e1v\u00e1 ne\u00fapln\u00e9.\n<br><br>\n\nStrategie m\u016f\u017ee v ur\u010dit\u00fdch tr\u017en\u00edch podm\u00ednk\u00e1ch dos\u00e1hnout velmi vysok\u00e9ho v\u00fdnosu, ale z\u00e1rove\u0148 n\u00e9st velk\u00fd pokles;\n<br><br>\n\njin\u00e1 strategie m\u016f\u017ee m\u00edt v\u00fdnos ni\u017e\u0161\u00ed, ale pokud l\u00e9pe \u0159\u00edd\u00ed poklesy,\n<br><br>\n\njej\u00ed majetkov\u00e1 k\u0159ivka bude p\u0159i dlouhodob\u00e9m prov\u00e1d\u011bn\u00ed mnohem sn\u00e1ze snesiteln\u00e1.\n<br><br>\n\nP\u0159i hodnocen\u00ed kvantitativn\u00edch strategi\u00ed sledujte sou\u010dasn\u011b alespo\u0148:\n<br><br>\n\n<ul>\n    <li>Ro\u010dn\u00ed v\u00fdnos<\/li>\n    <li>Maxim\u00e1ln\u00ed pokles<\/li>\n    <li>Calmar\u016fv pom\u011br<\/li>\n    <li>Volatilitu<\/li>\n    <li>Frekvenci obchodov\u00e1n\u00ed a charakteristiku strategie<\/li>\n    <li>Historick\u00e9 tr\u017en\u00ed podm\u00ednky, kter\u00e9 v\u00fdsledky pokr\u00fdvaj\u00ed<\/li>\n<\/ul>\n<br>\n\n<strong>Vysok\u00e9 v\u00fdnosy bud\u00ed pozornost, ale schopnost kontrolovat pokles rozhoduje o udr\u017eitelnosti.<\/strong>\n<br><br>\n\n<h2><strong>Calmar\u016fv pom\u011br vysv\u011btluje minulost, nep\u0159edpov\u00edd\u00e1 budoucnost<\/strong><\/h2>\n\nCalmar\u016fv pom\u011br je ukazatel vypo\u010d\u00edtan\u00fd z historick\u00fdch dat.\n<br><br>\n\nPom\u00e1h\u00e1 n\u00e1m pochopit:\n<br><br>\n\n<strong>\u201eJak velk\u00fd maxim\u00e1ln\u00ed pokles investice utrp\u011bla b\u011bhem dosahov\u00e1n\u00ed sv\u00fdch historick\u00fdch v\u00fdnos\u016f.\u201c<\/strong>\n<br><br>\n\nNem\u016f\u017ee v\u0161ak zaru\u010dit, \u017ee si v budoucnu zachov\u00e1 stejn\u00fd ro\u010dn\u00ed v\u00fdnos, maxim\u00e1ln\u00ed pokles nebo Calmar\u016fv pom\u011br.\n<br><br>\n\nVysok\u00fd historick\u00fd Calmar\u016fv pom\u011br neznamen\u00e1, \u017ee z\u016fstane stejn\u00fd i po zm\u011bn\u011b tr\u017en\u00edho prost\u0159ed\u00ed;\n<br><br>\n\nstejn\u011b tak v\u00fdrazn\u00fd pokles v minulosti neznamen\u00e1, \u017ee se v budoucnu opakuje p\u0159esn\u011b stejn\u00fd propad.\n<br><br>\n\nCalmar\u016fv pom\u011br proto nejl\u00e9pe slou\u017e\u00ed\n<br><br>\n\nk vybudov\u00e1n\u00ed ucelen\u011bj\u0161\u00edho r\u00e1mce pro anal\u00fdzu minul\u00fdch v\u00fdsledk\u016f, nikoli k v\u011b\u0161t\u011bn\u00ed budoucnosti.\n<br><br>\n\n<h2><strong>Z\u00e1v\u011br: Nejd\u016fle\u017eit\u011bj\u0161\u00ed nen\u00ed nejvy\u0161\u0161\u00ed v\u00fdnos, ale zp\u016fsob jeho dosa\u017een\u00ed<\/strong><\/h2>\n\nInvesti\u010dn\u00ed trh je pln\u00fd p\u0159\u00edb\u011bh\u016f o astronomick\u00fdch v\u00fdnosech.\n<br><br>\n\nTo, co stoj\u00ed za skute\u010dn\u00e9 zkoum\u00e1n\u00ed, je zp\u016fsob, jak\u00fdm byly tyto v\u00fdnosy vytvo\u0159eny.\n<br><br>\n\n<ul>\n    <li>Ro\u010dn\u00ed v\u00fdnos \u0159\u00edk\u00e1: \u201eJak rychle investice dlouhodob\u011b b\u011b\u017eela.\u201c<\/li><br>\n    \n    <li>Maxim\u00e1ln\u00ed pokles \u0159\u00edk\u00e1: \u201eJak tvrd\u011b b\u011bhem cesty spadla.\u201c<\/li><br>\n    \n    <li>Calmar\u016fv pom\u011br n\u00e1s nut\u00ed k zamy\u0161len\u00ed: \u201eSt\u00e1l tento v\u00fdnos za podstoupen\u00ed takov\u00e9ho poklesu?\u201c<\/li>\n<\/ul>\n<br>\n\nA\u017e budete p\u0159\u00ed\u0161t\u011b porovn\u00e1vat technologick\u00e9 akcie, Bitcoin, S&amp;P 500, zlato nebo kvantitativn\u00ed strategie,\n<br><br>\n\npt\u011bjte se m\u00e9n\u011b \u201eco vyn\u00e1\u0161\u00ed nejv\u00edce?\u201c,\n<br><br>\n\na v\u00edce <strong>\u201eco dosahuje kvalitn\u011bj\u0161\u00edho v\u00fdnosu p\u0159i rozumn\u00e9 m\u00ed\u0159e poklesu?\u201c<\/strong>\n<br><br>\n\nProto\u017ee v investov\u00e1n\u00ed se vyplat\u00ed usilovat ne o nejhez\u010d\u00ed \u010d\u00edslo na pap\u00ed\u0159e,\n<br><br>\n\nale o nalezen\u00ed takov\u00e9ho p\u0159\u00edstupu, jeho\u017e riziku rozum\u00edte, dok\u00e1\u017eete jej p\u0159ijmout a dodr\u017eovat.\n<\/span><\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-55faf68 elementor-widget elementor-widget-template\" data-id=\"55faf68\" data-element_type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"container\" data-elementor-id=\"74050\" class=\"elementor elementor-74050\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t<div class=\"elementor-element elementor-element-529f7c47 e-con-full e-flex e-con e-child\" data-id=\"529f7c47\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6487af27 elementor-widget elementor-widget-heading\" data-id=\"6487af27\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Zvolte si vhodnou strategii<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4dd497f0 elementor-icon-list--layout-inline elementor-list-item-link-inline elementor-widget__width-auto elementor-widget elementor-widget-icon-list\" data-id=\"4dd497f0\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items elementor-inline-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/mister.forex\/cs\/alpha-gold\/\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-check-circle\" viewbox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 48c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m140.204 130.267l-22.536-22.718c-4.667-4.705-12.265-4.736-16.97-.068L215.346 303.697l-59.792-60.277c-4.667-4.705-12.265-4.736-16.97-.069l-22.719 22.536c-4.705 4.667-4.736 12.265-.068 16.971l90.781 91.516c4.667 4.705 12.265 4.736 16.97.068l172.589-171.204c4.704-4.668 4.734-12.266.067-16.971z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Alpha Gold | Agresivn\u00ed strategie<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c6740d9 elementor-widget elementor-widget-heading\" data-id=\"c6740d9\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<span class=\"elementor-heading-title elementor-size-default\">Pro investory v\u011b\u0159\u00edc\u00ed zlatu, kte\u0159\u00ed sn\u00e1\u0161ej\u00ed vy\u0161\u0161\u00ed volatilitu a m\u00ed\u0159\u00ed na siln\u00fd r\u016fst.<\/span>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-38efdd7e elementor-icon-list--layout-inline elementor-list-item-link-inline elementor-widget__width-auto elementor-widget elementor-widget-icon-list\" data-id=\"38efdd7e\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items elementor-inline-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/mister.forex\/cs\/quant-matrix\/\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-check-circle\" viewbox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 48c110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200-110.532 0-200-89.451-200-200 0-110.532 89.451-200 200-200m140.204 130.267l-22.536-22.718c-4.667-4.705-12.265-4.736-16.97-.068L215.346 303.697l-59.792-60.277c-4.667-4.705-12.265-4.736-16.97-.069l-22.719 22.536c-4.705 4.667-4.736 12.265-.068 16.971l90.781 91.516c4.667 4.705 12.265 4.736 16.97.068l172.589-171.204c4.704-4.668 4.734-12.266.067-16.971z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Quant Matrix | Um\u00edrn\u011bn\u00e1 strategie<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7966cd12 elementor-widget elementor-widget-heading\" data-id=\"7966cd12\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<span class=\"elementor-heading-title elementor-size-default\">Pro investory preferuj\u00edc\u00ed stabiln\u00ed k\u0159ivku aktiv, kontrolovanou volatilitu a plynul\u00fd r\u016fst.<\/span>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3d4b2f98 elementor-icon-list--layout-inline elementor-list-item-link-inline elementor-widget__width-auto elementor-hidden-desktop elementor-hidden-tablet elementor-hidden-mobile elementor-widget elementor-widget-icon-list\" data-id=\"3d4b2f98\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items elementor-inline-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/mister.forex\/cs\/quant-matrix\/\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-crown\" viewbox=\"0 0 640 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M528 448H112c-8.8 0-16 7.2-16 16v32c0 8.8 7.2 16 16 16h416c8.8 0 16-7.2 16-16v-32c0-8.8-7.2-16-16-16zm64-320c-26.5 0-48 21.5-48 48 0 7.1 1.6 13.7 4.4 19.8L476 239.2c-15.4 9.2-35.3 4-44.2-11.6L350.3 85C361 76.2 368 63 368 48c0-26.5-21.5-48-48-48s-48 21.5-48 48c0 15 7 28.2 17.7 37l-81.5 142.6c-8.9 15.6-28.9 20.8-44.2 11.6l-72.3-43.4c2.7-6 4.4-12.7 4.4-19.8 0-26.5-21.5-48-48-48S0 149.5 0 176s21.5 48 48 48c2.6 0 5.2-.4 7.7-.8L128 416h384l72.3-192.8c2.5.4 5.1.8 7.7.8 26.5 0 48-21.5 48-48s-21.5-48-48-48z\"><\/path><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">All Weather | Vlajkov\u00e9 portfolio<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-13829d17 elementor-hidden-desktop elementor-hidden-tablet elementor-hidden-mobile elementor-widget elementor-widget-heading\" data-id=\"13829d17\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<span class=\"elementor-heading-title elementor-size-default\">Pro investory hledaj\u00edc\u00ed komplexn\u00ed alokaci nap\u0159\u00ed\u010d cykly s rovnov\u00e1hou mezi rizikem a r\u016fstem.<\/span>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>\u6295\u8cc7\u4e0d\u80fd\u53ea\u770b\u5e74\u5316\u5831\u916c\uff0c\u66f4\u8981\u8861\u91cf\u6700\u5927\u56de\u64a4\u8207\u98a8\u96aa\u5831\u916c\u6548\u7387\u3002\u672c\u6587\u5f9e\u5361\u746a\u6bd4\u7387\uff08Calmar Ratio\uff09\u51fa\u767c\uff0c\u6bd4\u8f03\u79d1\u6280\u80a1\u3001\u6bd4\u7279\u5e63\u3001S&#038;P 500\u3001\u9ec3\u91d1\u8207\u91cf\u5316\u7b56\u7565\u7684\u5831\u916c\u8207\u56de\u64a4\u7279\u6027\uff0c\u4e86\u89e3\u5982\u4f55\u8a55\u4f30\u4e00\u9805\u6295\u8cc7\u7684\u5831\u916c\u54c1\u8cea\u3002<\/p>","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"tags":[128],"class_list":["post-74016","page","type-page","status-publish","hentry","tag-no-google"],"_links":{"self":[{"href":"https:\/\/mister.forex\/cs\/wp-json\/wp\/v2\/pages\/74016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mister.forex\/cs\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/mister.forex\/cs\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/mister.forex\/cs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mister.forex\/cs\/wp-json\/wp\/v2\/comments?post=74016"}],"version-history":[{"count":34,"href":"https:\/\/mister.forex\/cs\/wp-json\/wp\/v2\/pages\/74016\/revisions"}],"predecessor-version":[{"id":74216,"href":"https:\/\/mister.forex\/cs\/wp-json\/wp\/v2\/pages\/74016\/revisions\/74216"}],"wp:attachment":[{"href":"https:\/\/mister.forex\/cs\/wp-json\/wp\/v2\/media?parent=74016"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mister.forex\/cs\/wp-json\/wp\/v2\/tags?post=74016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}