{"id":74343,"date":"2026-10-20T21:24:24","date_gmt":"2026-10-20T13:24:24","guid":{"rendered":"https:\/\/mister.forex\/?page_id=74343"},"modified":"2026-10-26T12:19:05","modified_gmt":"2026-10-26T04:19:05","slug":"etf-portfolio-diversification","status":"publish","type":"page","link":"https:\/\/mister.forex\/cs\/etf-portfolio-diversification\/","title":{"rendered":"Pro\u010d samotn\u00e9 ETF na \u0161irok\u00fd trh nesta\u010d\u00ed? Diverzifikace a alokace aktiv"},"content":{"rendered":"<div data-elementor-type=\"wp-page\" data-elementor-id=\"74343\" class=\"elementor elementor-74343\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-93f4020 e-flex e-con-boxed e-con e-parent\" data-id=\"93f4020\" 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-b67af76 elementor-widget elementor-widget-heading\" data-id=\"b67af76\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Koupili jste ETF na \u0161irok\u00fd trh. Pro\u010d investovat i jinam?<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-222829e elementor-hidden-desktop elementor-hidden-tablet elementor-widget elementor-widget-text-editor\" data-id=\"222829e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-74485 size-medium\" src=\"https:\/\/mister.forex\/wp-content\/uploads\/2026\/10\/Asset-Allocation-Thumbnail-500x281.webp\" alt=\"\" width=\"500\" height=\"281\" srcset=\"https:\/\/mister.forex\/wp-content\/uploads\/2026\/10\/Asset-Allocation-Thumbnail-500x281.webp 500w, https:\/\/mister.forex\/wp-content\/uploads\/2026\/10\/Asset-Allocation-Thumbnail-1200x675.webp 1200w, https:\/\/mister.forex\/wp-content\/uploads\/2026\/10\/Asset-Allocation-Thumbnail-300x169.webp 300w, https:\/\/mister.forex\/wp-content\/uploads\/2026\/10\/Asset-Allocation-Thumbnail-768x432.webp 768w, https:\/\/mister.forex\/wp-content\/uploads\/2026\/10\/Asset-Allocation-Thumbnail-1536x864.webp 1536w, https:\/\/mister.forex\/wp-content\/uploads\/2026\/10\/Asset-Allocation-Thumbnail-18x10.webp 18w, https:\/\/mister.forex\/wp-content\/uploads\/2026\/10\/Asset-Allocation-Thumbnail.webp 1672w\" sizes=\"(max-width: 500px) 100vw, 500px\" \/><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f1be161 elementor-widget elementor-widget-html translation-block\" data-id=\"f1be161\" data-element_type=\"widget\" data-widget_type=\"html.default\"><span>\r\n\u201eU\u017e jsem koupil ETF sleduj\u00edc\u00ed \u0161irok\u00fd akciov\u00fd trh, a t\u00edm investuji do stovek firem. Pro\u010d bych m\u011bl investovat je\u0161t\u011b do n\u011b\u010deho dal\u0161\u00edho?\u201c\r\n<br><br>\r\n\r\nPokud v\u00e1s napad\u00e1 stejn\u00e1 ot\u00e1zka, je to naprosto pochopiteln\u00e9.\r\n<br><br>\r\n\r\nPro v\u011bt\u0161inu dlouhodob\u00fdch investor\u016f jsou \u0161iroce diverzifikovan\u00e9 akciov\u00e9 ETF u\u017eite\u010dn\u00fdm n\u00e1strojem k budov\u00e1n\u00ed majetku.\r\n<br><br>\r\n\r\nNemus\u00edte v\u011bnovat hodiny v\u00fdb\u011bru jednotliv\u00fdch akci\u00ed, m\u016f\u017eete se pod\u00edlet na r\u016fstu cel\u00e9ho trhu a sou\u010dasn\u011b omezit riziko spojen\u00e9 s ne\u00fasp\u011bchem jedn\u00e9 firmy.\r\n<br><br>\r\n\r\n\u010casto se ale p\u0159ehl\u00ed\u017e\u00ed jedna d\u016fle\u017eit\u00e1 ot\u00e1zka:\r\n<br><br>\r\n\r\n<strong>ETF rozkl\u00e1d\u00e1 riziko jednotliv\u00fdch firem. Co ale rozlo\u017e\u00ed riziko cel\u00e9ho trhu?<\/strong>\r\n<br><br>\r\n\r\nAni n\u011bkolik ETF nemus\u00ed znamenat skute\u010dn\u011b odli\u0161n\u00e9 investice: mohou dr\u017eet stejn\u00e9 spole\u010dnosti nebo vystavovat cel\u00e9 portfolio podobn\u00fdm tr\u017en\u00edm rizik\u016fm.\r\n<br><br>\r\n\r\nHistorick\u00e1 data nav\u00edc ukazuj\u00ed, \u017ee i velk\u00e1 akciov\u00e1 ETF se stovkami spole\u010dnost\u00ed za\u017eila propady p\u0159esahuj\u00edc\u00ed 50% a n\u00e1vrat na p\u0159edchoz\u00ed maxima jim n\u011bkdy trval \u0159adu let.\r\n<br><br>\r\n\r\nPr\u00e1v\u011b proto jsou p\u0159i alokaci aktiv d\u016fle\u017eit\u00e9 p\u0159ekryvy pozic, korelace a \u0159\u00edzen\u00ed rizik.\r\n<br><br>\r\n\r\nSkute\u010dn\u00e1 diverzifikace nespo\u010d\u00edv\u00e1 pouze v po\u010dtu produkt\u016f, ale v kombinov\u00e1n\u00ed r\u016fzn\u00fdch zdroj\u016f v\u00fdnos\u016f.\r\n<br><br>\r\n\r\nZa\u010dneme u zn\u00e1m\u00fdch ETF a dluhopis\u016f. Vysv\u011btl\u00edme rozd\u00edl mezi rizikem jednotliv\u00fdch akci\u00ed a rizikem cel\u00e9ho trhu, v\u00fdznam pozitivn\u00ed a n\u00edzk\u00e9 korelace i to, jak mohou dal\u0161\u00ed investi\u010dn\u00ed strategie ovlivnit rizikov\u011b-v\u00fdnosov\u00fd profil portfolia.\r\n<br><br>\r\n\r\n\r\n<h2><strong>Pro\u010d ani stovky akci\u00ed nemus\u00ed sta\u010dit k diverzifikaci?<\/strong><\/h2>\r\n\r\nP\u0159edstavte si, \u017ee vlastn\u00edte ETF sleduj\u00edc\u00ed index S&amp;P 500.\r\n<br><br>\r\n\r\nPen\u00edze tak m\u00e1te rozlo\u017een\u00e9 mezi velk\u00e9 americk\u00e9 ve\u0159ejn\u011b obchodovan\u00e9 spole\u010dnosti, nikoli soust\u0159ed\u011bn\u00e9 do jedin\u00e9 akcie.\r\n<br><br>\r\n\r\nTakov\u00e9 rozlo\u017een\u00ed investic m\u00e1 skute\u010dnou hodnotu.\r\n<br><br>\r\n\r\nPokud se n\u011bkter\u00e9 spole\u010dnosti p\u0159estane da\u0159it, v\u00fdsledky zklamou nebo jej\u00ed akcie prudce zlevn\u00ed, lep\u0161\u00ed v\u00fdvoj ostatn\u00edch firem m\u016f\u017ee \u010d\u00e1st ztr\u00e1ty vyrovnat.\r\n<br><br>\r\n\r\nCo se ale stane, kdy\u017e klesne cel\u00fd trh?\r\n<br><br>\r\n\r\nD\u016fvodem m\u016f\u017ee b\u00fdt recese, finan\u010dn\u00ed krize, nezvl\u00e1dnut\u00e1 inflace nebo hromadn\u00fd odklon investor\u016f od rizikov\u00fdch aktiv.\r\n<br><br>\r\n\r\nV takov\u00e9 situaci m\u016f\u017ee ETF se stovkami spole\u010dnost\u00ed utrp\u011bt citelnou ztr\u00e1tu, proto\u017ee akcie nap\u0159\u00ed\u010d trhem padaj\u00ed sou\u010dasn\u011b.\r\n<br><br>\r\n\r\nD\u016fvod je jednoduch\u00fd:\r\n<br><br>\r\n\r\n<strong>ETF rozkl\u00e1d\u00e1 riziko jednotliv\u00fdch akci\u00ed, ale nedok\u00e1\u017ee zcela odstranit systematick\u00e9 riziko akciov\u00e9ho trhu.<\/strong>\r\n<br><br>\r\n\r\nVlastn\u00edte sice mnoho r\u016fzn\u00fdch firem, v\u0161echny v\u0161ak ovliv\u0148uje stejn\u00e9 ekonomick\u00e9 prost\u0159ed\u00ed a spole\u010dn\u00e9 tr\u017en\u00ed faktory.\r\n<br><br>\r\n\r\nJe to jako rozd\u011blit vejce do stovek ko\u0161\u00edk\u016f a pak v\u0161echny ko\u0161\u00edky nalo\u017eit na jedin\u00e9 auto.\r\n<br><br>\r\n\r\nRiziko po\u0161kozen\u00ed jednoho ko\u0161\u00edku se sn\u00ed\u017e\u00ed. Jestli\u017ee se ale p\u0159evr\u00e1t\u00ed cel\u00e9 auto, mohou utrp\u011bt v\u0161echny ko\u0161\u00edky najednou.\r\n<br>\r\n\r\n<img class=\"alignnone wp-image-74352 size-large\" src=\"https:\/\/mister.forex\/wp-content\/uploads\/2026\/10\/Market-Risk-1200x437.webp\" alt=\"Akcie mnoha spole\u010dnost\u00ed klesaj\u00ed sou\u010dasn\u011b s cel\u00fdm trhem. \u0160iroce zam\u011b\u0159en\u00e9 ETF rozkl\u00e1d\u00e1 riziko jednotliv\u00fdch firem, neodstra\u0148uje v\u0161ak systematick\u00e9 tr\u017en\u00ed riziko.\" width=\"800\" height=\"291\" data-wp-editing=\"1\">\r\n<br>\r\n\r\nDr\u017een\u00edm akci\u00ed mnoha firem ETF sni\u017euje riziko jednotliv\u00fdch spole\u010dnost\u00ed (situace A); p\u0159i poklesu cel\u00e9ho trhu v\u0161ak z\u016fst\u00e1v\u00e1 vystaveno spole\u010dn\u00e9mu systematick\u00e9mu riziku (situace B).\r\n<br><br>\r\n\r\n\r\n<h3><strong>T\u0159i ETF, ale stejn\u00e9 akcie?<\/strong><\/h3>\r\n\r\n\u201eNed\u00e1vejte v\u0161echna vejce do jednoho ko\u0161\u00edku\u201c pat\u0159\u00ed k nejzn\u00e1m\u011bj\u0161\u00edm p\u0159irovn\u00e1n\u00edm p\u0159i vysv\u011btlov\u00e1n\u00ed diverzifikace.\r\n<br><br>\r\n\r\nPokud ale t\u0159i r\u016fzn\u011b pojmenovan\u00e1 ETF dr\u017e\u00ed z velk\u00e9 \u010d\u00e1sti stejn\u00e9 firmy, p\u0159ipom\u00edn\u00e1 to t\u0159i ko\u0161\u00edky napln\u011bn\u00e9 t\u00fdmi\u017e vejci.\r\n<br><br>\r\n\r\nVa\u0161e portfolio m\u016f\u017ee nap\u0159\u00edklad obsahovat:\r\n<br><br>\r\n\r\n<ul>\r\n  <li>ETF sleduj\u00edc\u00ed index S&amp;P 500.<\/li>\r\n  <li>ETF sleduj\u00edc\u00ed index Nasdaq 100.<\/li>\r\n  <li>ETF zam\u011b\u0159en\u00e9 na velk\u00e9 americk\u00e9 r\u016fstov\u00e9 spole\u010dnosti.<\/li>\r\n<\/ul>\r\n<br>\r\n\r\nP\u0159esto\u017ee tato ETF sleduj\u00ed odli\u0161n\u00e9 indexy a pou\u017e\u00edvaj\u00ed r\u016fzn\u00e1 pravidla v\u00fdb\u011bru akci\u00ed, mohou v\u0161echna obsahovat n\u011bkter\u00e9 stejn\u00e9 technologick\u00e9 giganty.\r\n<br><br>\r\n\r\nPokud se stejn\u00e1 firma objevuje ve v\u00edce ETF, va\u0161e skute\u010dn\u00e1 expozice v\u016f\u010di n\u00ed m\u016f\u017ee b\u00fdt vy\u0161\u0161\u00ed, ne\u017e p\u0159edpokl\u00e1d\u00e1te.\r\n<br><br>\r\n\r\n<strong>T\u0159i ETF je\u0161t\u011b neznamenaj\u00ed t\u0159i na sob\u011b zcela nez\u00e1visl\u00e9 zdroje rizika.<\/strong>\r\n<br><br>\r\n\r\n<img class=\"alignnone wp-image-74413 size-large\" src=\"https:\/\/mister.forex\/wp-content\/uploads\/2026\/10\/ETF-Holdings-Overlap-1200x600.webp\" alt=\"T\u0159i investi\u010dn\u00ed ko\u0161\u00edky obsahuj\u00ed z\u010d\u00e1sti stejn\u00e9 akcie. I vlastnictv\u00ed n\u011bkolika ETF tak m\u016f\u017ee znamenat p\u0159ekryv pozic a koncentrovan\u00e9 riziko.\" width=\"800\" height=\"400\">\r\n<br>\r\n\r\n<strong>Popisek obr\u00e1zku:<\/strong>R\u016fzn\u00e1 ETF mohou opakovan\u011b dr\u017eet stejn\u00e9 spole\u010dnosti. M\u00edru diverzifikace proto neposuzujte jen podle po\u010dtu ETF, ale i podle podkladov\u00fdch akci\u00ed a jejich vah.\r\n<br><br>\r\n\r\nP\u0159ekryv pozic p\u0159itom nen\u00ed jedin\u00fd probl\u00e9m.\r\n<br><br>\r\n\r\nI dv\u011b ETF s \u00fapln\u011b odli\u0161n\u00fdmi firmami mohou reagovat na stejn\u00e9 \u00farokov\u00e9 sazby, r\u016fst ekonomiky \u010di n\u00e1ladu investor\u016f a v dob\u011b krize sou\u010dasn\u011b ztr\u00e1cet.\r\n<br><br>\r\n\r\nDal\u0161\u00ed ot\u00e1zka p\u0159i alokaci aktiv tedy nezn\u00ed \u201eKolik dal\u0161\u00edch akci\u00ed je\u0161t\u011b koupit?\u201c, ale:\r\n<br><br>\r\n\r\n<strong>M\u00e1 moje portfolio krom\u011b akciov\u00e9ho trhu tak\u00e9 jin\u00e9 zdroje v\u00fdnos\u016f?<\/strong>\r\n<br><br>\r\n\r\n\r\n<h2><strong>Za druh\u00e9: Kl\u00ed\u010dem ke skute\u010dn\u00e9 diverzifikaci je korelace<\/strong><\/h2>\r\n\r\nKorela\u010dn\u00ed koeficient (Correlation Coefficient) v investov\u00e1n\u00ed m\u011b\u0159\u00ed s\u00edlu line\u00e1rn\u00edho vztahu mezi zm\u011bnami v\u00fdnos\u016f dvou aktiv.\r\n<br><br>\r\n\r\nJeho hodnota se pohybuje od -1 do +1.\r\n<br><br>\r\n\r\n\r\n<h3><strong>Kladn\u00e1 korelace: aktiva maj\u00ed sklon r\u016fst a klesat spole\u010dn\u011b<\/strong><\/h3>\r\n\r\nPokud se korela\u010dn\u00ed koeficient bl\u00ed\u017e\u00ed +1, v\u00fdnosy obou aktiv se obvykle pohybuj\u00ed stejn\u00fdm sm\u011brem.\r\n<br><br>\r\n\r\nDv\u011b ETF zam\u011b\u0159en\u00e1 na americk\u00e9 akcie velk\u00fdch spole\u010dnost\u00ed mohou m\u00edt velmi podobn\u00fd v\u00fdvoj, i kdy\u017e se li\u0161\u00ed n\u00e1zvem a spr\u00e1vcem.\r\n<br><br>\r\n\r\nKombinace dvou siln\u011b korelovan\u00fdch ETF proto nemus\u00ed p\u0159in\u00e9st v\u00fdrazn\u011b lep\u0161\u00ed diverzifikaci.\r\n<br><br>\r\n\r\n\r\n<h3><strong>Z\u00e1porn\u00e1 korelace: kdy\u017e jedno aktivum roste, druh\u00e9 m\u00e1 sklon klesat<\/strong><\/h3>\r\n\r\nPokud se korela\u010dn\u00ed koeficient bl\u00ed\u017e\u00ed -1, maj\u00ed v\u00fdnosy obou aktiv tendenci pohybovat se opa\u010dn\u00fdmi sm\u011bry.\r\n<br><br>\r\n\r\nJestli\u017ee se jednomu aktivu neda\u0159\u00ed, druh\u00e9 se m\u016f\u017ee vyv\u00edjet opa\u010dn\u011b.\r\n<br><br>\r\n\r\nU n\u011bkter\u00fdch kombinac\u00ed akci\u00ed a st\u00e1tn\u00edch dluhopis\u016f byla za ur\u010dit\u00fdch tr\u017en\u00edch podm\u00ednek pozorov\u00e1na z\u00e1porn\u00e1 korelace.\r\n<br><br>\r\n\r\nJe ale d\u016fle\u017eit\u00e9 pamatovat na jednu v\u011bc:<strong>Akcie a dluhopisy nemaj\u00ed z\u00e1pornou korelaci v\u017edy.<\/strong>\r\n<br><br>\r\n\r\nP\u0159i rychl\u00e9m r\u016fstu inflace a \u00farokov\u00fdch sazeb mohou akcie i dluhopisy zlev\u0148ovat sou\u010dasn\u011b.\r\n<br><br>\r\n\r\nZda dluhopisy skute\u010dn\u011b omez\u00ed akciov\u00e9 riziko, proto z\u00e1vis\u00ed na aktu\u00e1ln\u00edm tr\u017en\u00edm prost\u0159ed\u00ed.\r\n<br><br>\r\n\r\n\r\n<h3><strong>Korelace bl\u00edzk\u00e1 nule: bez z\u0159eteln\u00e9 line\u00e1rn\u00ed z\u00e1vislosti<\/strong><\/h3>\r\n\r\nJe-li korela\u010dn\u00ed koeficient bl\u00edzko 0, nen\u00ed mezi v\u00fdnosy dvou aktiv patrn\u00fd v\u00fdrazn\u00fd line\u00e1rn\u00ed vztah.\r\n<br><br>\r\n\r\nNap\u0159\u00edklad:\r\n\r\n<ul>\r\n  <li>Kdy\u017e akciov\u00fd trh roste, ur\u010dit\u00e1 strategie m\u016f\u017ee vyd\u011bl\u00e1vat, ale tak\u00e9 ztr\u00e1cet.<\/li>\r\n  <li>P\u0159i poklesu akciov\u00e9ho trhu se stejn\u00e1 strategie nemus\u00ed propadnout s n\u00edm.<\/li>\r\n  <li>Jej\u00ed v\u00fdsledky mohou ovliv\u0148ovat hlavn\u011b jin\u00e9 tr\u017en\u00ed faktory nebo jin\u00e1 obchodn\u00ed pravidla.<\/li>\r\n<\/ul>\r\n<br>\r\n\r\nTo neznamen\u00e1, \u017ee strategie s t\u00e9m\u011b\u0159 nulovou korelac\u00ed nem\u016f\u017ee prod\u011blat ani \u017ee mus\u00ed vyd\u011bl\u00e1vat, kdy\u017e akcie klesaj\u00ed.\r\n<br><br>\r\n\r\nZnamen\u00e1 to pouze:\r\n<br><br>\r\n\r\n<strong>Jej\u00ed v\u00fdnosy se nemusej\u00ed pohybovat stejn\u00fdm sm\u011brem jako akciov\u00fd trh.<\/strong>\r\n<br><br>\r\n\r\nKorelace bl\u00edzk\u00e1 nule (r \u2248 0) nav\u00edc neznamen\u00e1 \u00faplnou nez\u00e1vislost aktiv. M\u016f\u017ee mezi nimi existovat neline\u00e1rn\u00ed vztah a v extr\u00e9mn\u00edch podm\u00ednk\u00e1ch mohou ztr\u00e1cet ob\u011b z\u00e1rove\u0148.\r\n<br>\r\n\r\n<img loading=\"lazy\" class=\"alignnone wp-image-74353 size-large\" src=\"https:\/\/mister.forex\/wp-content\/uploads\/2026\/10\/Correlation-1200x600.webp\" alt=\"T\u0159i bodov\u00e9 grafy zn\u00e1zor\u0148uj\u00ed kladnou, z\u00e1pornou a t\u00e9m\u011b\u0159 nulovou korelaci mezi v\u00fdnosy aktiv.\" width=\"800\" height=\"400\">\r\n<br>\r\n\r\nU kladn\u00e9 korelace (r &gt; 0) maj\u00ed aktiva sklon pohybovat se stejn\u011b, u z\u00e1porn\u00e9 (r &lt; 0) opa\u010dn\u011b; p\u0159i korelaci bl\u00edzk\u00e9 nule (r \u2248 0) chyb\u00ed z\u0159eteln\u00e1 line\u00e1rn\u00ed z\u00e1vislost.\r\n<br><br>\r\n\r\nPro investory, jejich\u017e portfolio tvo\u0159\u00ed z velk\u00e9 \u010d\u00e1sti \u0161iroce zam\u011b\u0159en\u00e9 ETF, m\u016f\u017ee b\u00fdt takov\u00fd odli\u0161n\u00fd v\u00fdvoj d\u016fle\u017eit\u00fd p\u0159i rozlo\u017een\u00ed aktiv.\r\n<br><br>\r\n\r\nC\u00edlem diverzifikace nen\u00ed zajistit r\u016fst v\u0161ech aktiv, ale zabr\u00e1nit tomu, aby v\u00fdsledky cel\u00e9ho portfolia z\u00e1visely p\u0159\u00edli\u0161 na stejn\u00fdch faktorech.\r\n<br><br>\r\n\r\n\r\n<h2><strong>M\u00e1te dluhopisy. Pro\u010d zva\u017eovat n\u00edzkou korelaci?<\/strong><\/h2>\r\n\r\nPo vysv\u011btlen\u00ed korelace v\u00e1s mo\u017en\u00e1 napadne dal\u0161\u00ed ot\u00e1zka:\r\n<br><br>\r\n\r\n\u201eVedle ETF u\u017e vlastn\u00edm i dluhopisov\u00fd fond. Nesta\u010d\u00ed to?\u201c\r\n<br><br>\r\n\r\nKombinace akci\u00ed a dluhopis\u016f pat\u0159\u00ed ke klasick\u00fdm zp\u016fsob\u016fm alokace aktiv.\r\n<br><br>\r\n\r\nAkcie obvykle slou\u017e\u00ed k dlouhodob\u00e9mu r\u016fstu, zat\u00edmco kvalitn\u00ed dluhopisy mohou p\u0159in\u00e1\u0161et \u00faroky a v n\u011bkter\u00fdch situac\u00edch tlumit v\u00fdkyvy akci\u00ed.\r\n<br><br>\r\n\r\nAkcie a dluhopisy se v\u0161ak navz\u00e1jem nechr\u00e1n\u00ed za v\u0161ech okolnost\u00ed.\r\n<br><br>\r\n\r\nP\u0159i r\u016fstu inflace, rychl\u00fdch zm\u011bn\u00e1ch \u00farokov\u00fdch sazeb nebo zhor\u0161en\u00e9 likvidit\u011b trhu mohou b\u00fdt pod tlakem ob\u011b t\u0159\u00eddy aktiv.\r\n<br><br>\r\n\r\nI portfolio kombinuj\u00edc\u00ed akciov\u00e9 ETF a dluhopisov\u00e9 fondy tak m\u016f\u017ee z\u016fstat vystaven\u00e9 spole\u010dn\u00fdm tr\u017en\u00edm vliv\u016fm.\r\n<br><br>\r\n\r\nN\u011bkte\u0159\u00ed investo\u0159i proto zkoumaj\u00ed i jin\u00e9 zdroje v\u00fdnos\u016f, nap\u0159\u00edklad:\r\n<br><br>\r\n\r\n<ul>\r\n  <li>\r\n    <strong>Tr\u017en\u011b neutr\u00e1ln\u00ed strategie:<\/strong>\r\n    Usiluj\u00ed o omezen\u00ed citlivosti portfolia na sm\u011br pohybu cel\u00e9ho trhu.\r\n  <\/li>\r\n  <li>\r\n    <strong>Strategie sleduj\u00edc\u00ed trend:<\/strong>\r\n    Vyu\u017e\u00edvaj\u00ed v\u00fdvoj cen k ur\u010den\u00ed sm\u011bru obchod\u016f a hled\u00e1n\u00ed p\u0159\u00edle\u017eitost\u00ed na r\u016fzn\u00fdch trz\u00edch.\r\n  <\/li>\r\n  <li>\r\n    <strong>Kvantitativn\u00ed strategie na v\u00edce trz\u00edch:<\/strong>\r\n    Hledaj\u00ed obchodn\u00ed p\u0159\u00edle\u017eitosti na r\u016fzn\u00fdch trz\u00edch pomoc\u00ed p\u0159edem dan\u00fdch pravidel nebo statistick\u00fdch model\u016f.\r\n  <\/li>\r\n  <li>\r\n    <strong>Dal\u0161\u00ed alternativn\u00ed investice:<\/strong>\r\n    Zam\u011b\u0159uj\u00ed se na aktiva a strategie s jin\u00fdmi zdroji v\u00fdnos\u016f ne\u017e tradi\u010dn\u00ed akcie a dluhopisy.\r\n  <\/li>\r\n<\/ul>\r\n<br>\r\n\r\nTyto strategie nemusej\u00ed b\u00fdt lep\u0161\u00ed ne\u017e ETF nebo dluhopisy a ne v\u0161echny se vyzna\u010duj\u00ed n\u00edzkou korelac\u00ed.\r\n<br><br>\r\n\r\nN\u011bkter\u00e9 v\u0161ak stoj\u00ed za prozkoum\u00e1n\u00ed: odli\u0161n\u00e1 pravidla obchodov\u00e1n\u00ed, pr\u00e1ce s pozicemi a zdroje rizika mohou nab\u00eddnout p\u0159\u00edle\u017eitosti mimo akcie a dluhopisy.\r\n<br><br>\r\n\r\n<strong>Alokace aktiv nehled\u00e1 investici bez pokles\u016f; omezuje z\u00e1vislost portfolia na jednom tr\u017en\u00edm sc\u00e9n\u00e1\u0159i.<\/strong>\r\n<br><br>\r\n\r\n\r\n<h2><strong>ETF + n\u00edzk\u00e1 korelace: kdy m\u016f\u017ee platit 1+1&gt;2?<\/strong><\/h2>\r\n\r\nTo je hlavn\u00ed my\u0161lenka tohoto \u010dl\u00e1nku.\r\n<br><br>\r\n\r\nRiziko portfolia nen\u00ed prost\u00fdm sou\u010dtem rizik jednotliv\u00fdch investic; z\u00e1le\u017e\u00ed tak\u00e9 na jejich vz\u00e1jemn\u00e9 korelaci.\r\n<br><br>\r\n\r\nP\u0159edstavte si dva r\u016fzn\u00e9 zdroje v\u00fdnosu.\r\n<br><br>\r\n\r\nAktivum A p\u0159edstavuje \u0161iroce zam\u011b\u0159en\u00e9 akciov\u00e9 ETF, zat\u00edmco aktivum B je investi\u010dn\u00ed strategie s n\u00edzkou korelac\u00ed v\u016f\u010di trhu.\r\n<br><br>\r\n\r\nPokud m\u00e1 aktivum B p\u0159ijateln\u00e9 riziko, n\u00e1klady a o\u010dek\u00e1van\u00fd v\u00fdnos, m\u016f\u017ee jejich vhodn\u00e1 kombinace sn\u00ed\u017eit celkovou kol\u00edsavost portfolia.\r\n<br><br>\r\n\r\nPro\u010d?\r\n<br><br>\r\n\r\nProto\u017ee jejich ceny nemusej\u00ed r\u016fst nebo klesat ve stejnou dobu.\r\n<br><br>\r\n\r\nKdy\u017e se jednomu aktivu p\u0159\u00edli\u0161 neda\u0159\u00ed, druh\u00e9 m\u016f\u017ee z\u016fstat relativn\u011b stabiln\u00ed nebo se vyv\u00edjet jinak.\r\n<br><br>\r\n\r\nPr\u00e1v\u011b tato vz\u00e1jemn\u00e1 dopl\u0148kovost je podstatou p\u0159\u00ednosu diverzifikace.\r\n<br><br>\r\n\r\n\r\n<h3><strong>P\u0159\u00ednos diverzifikace na jednoduch\u00fdch \u010d\u00edslech<\/strong><\/h3>\r\n\r\nP\u0159edpokl\u00e1dejme, \u017ee aktivum A (\u0161iroce zam\u011b\u0159en\u00e9 ETF) i aktivum B (n\u00edzce korelovan\u00e1 strategie) vykazuj\u00ed ro\u010dn\u00ed volatilitu 20% a korela\u010dn\u00ed koeficient jejich v\u00fdnos\u016f za stejn\u00e9 obdob\u00ed je nulov\u00fd (\u03c1 = 0).\r\n<br><br>\r\n\r\nPokud do ka\u017ed\u00e9ho z t\u011bchto aktiv vlo\u017e\u00edte 50% portfolia, jeho teoretick\u00e1 ro\u010dn\u00ed volatilita m\u016f\u017ee klesnout p\u0159ibli\u017en\u011b na <strong>14.1%, tedy pod 20% volatilitu p\u0159i samostatn\u00e9m dr\u017een\u00ed kter\u00e9hokoli z aktiv.<\/strong>\r\n<br><br>\r\n\r\n<img loading=\"lazy\" class=\"alignnone wp-image-74354\" src=\"https:\/\/mister.forex\/wp-content\/uploads\/2026\/10\/Portfolio-Synergy-1200x568.webp\" alt=\"Ob\u011b aktiva A a B maj\u00ed ro\u010dn\u00ed volatilitu 20%. P\u0159i p\u0159edpokl\u00e1dan\u00e9 nulov\u00e9 korelaci a rozd\u011blen\u00ed prost\u0159edk\u016f po 50% vych\u00e1z\u00ed teoretick\u00e1 volatilita portfolia p\u0159ibli\u017en\u011b 14.1%. Obr\u00e1zek zn\u00e1zor\u0148uje, jak m\u016f\u017ee diverzifikace vyhladit cestu r\u016fstu majetku.\" width=\"800\" height=\"379\">\r\n<br>\r\n\r\n<strong>Graf ukazuje \u00fa\u010dinek diverzifikace na \u010dist\u011b hypotetick\u00fdch trajektori\u00edch:<\/strong>I kdy\u017e aktiva A a B nakonec dos\u00e1hnou kladn\u00e9ho v\u00fdnosu, mohou b\u011bhem cesty v\u00fdrazn\u011b kol\u00edsat. Kombinace n\u00edzce korelovan\u00fdch aktiv m\u016f\u017ee p\u0159i podobn\u00e9m o\u010dek\u00e1van\u00e9m v\u00fdnosu omezit volatilitu a p\u0159isp\u011bt k plynulej\u0161\u00edmu v\u00fdvoji cel\u00e9ho portfolia.\r\n<br><br>\r\n\r\nTomuto efektu se \u0159\u00edk\u00e1<strong>\u201ep\u0159\u00ednos diverzifikace\u201c<\/strong>.\r\n<br><br>\r\n\r\nK\u0159ivky r\u016fstu na obr\u00e1zku jsou v\u0161ak pouze ilustrativn\u00ed a nep\u0159edstavuj\u00ed skute\u010dnou investi\u010dn\u00ed v\u00fdkonnost. Re\u00e1ln\u00fd v\u00fdsledek z\u00e1vis\u00ed na v\u00fdnosech aktiv, prom\u011bnliv\u00e9 korelaci, vah\u00e1ch v portfoliu, transak\u010dn\u00edch n\u00e1kladech a dal\u0161\u00edch rizic\u00edch. N\u00edzk\u00e1 korelace nezaru\u010duje zisk.\r\n<br><br>\r\n\r\n\r\n<h3><strong>Efekt 1+1&gt;2 neznamen\u00e1 z\u00e1ruku vy\u0161\u0161\u00edho zisku<\/strong><\/h3>\r\n\r\nV\u00fdraz 1+1&gt;2 zde neznamen\u00e1, \u017ee investice do dvou aktiv automaticky zdvojn\u00e1sob\u00ed v\u00fdnos.\r\n<br><br>\r\n\r\nSkute\u010dn\u00fd c\u00edl je jin\u00fd:\r\n<br><br>\r\n\r\n<strong>Sn\u00ed\u017eit kol\u00eds\u00e1n\u00ed portfolia p\u0159i srovnateln\u00e9m o\u010dek\u00e1van\u00e9m v\u00fdnosu.<\/strong>\r\n<br><br>\r\n\r\nM\u016f\u017ee se t\u00edm zlep\u0161it<strong>\u201erizikov\u011b o\u010di\u0161t\u011bn\u00fd v\u00fdnos\u201c<\/strong>, tedy hodnocen\u00ed v\u00fdnosu tak\u00e9 s ohledem na riziko, kter\u00e9 bylo pot\u0159eba podstoupit.\r\n<br><br>\r\n\r\nDlouhodob\u00ed investo\u0159i by proto vedle kumulativn\u00edho v\u00fdnosu m\u011bli sledovat tak\u00e9 volatilitu a maxim\u00e1ln\u00ed pokles.\r\n<br><br>\r\n\r\nNejt\u011b\u017e\u0161\u00ed toti\u017e nen\u00ed jen vybrat investici s potenci\u00e1lem dlouhodob\u00e9ho r\u016fstu, ale dok\u00e1zat se dr\u017eet vhodn\u00e9ho pl\u00e1nu i b\u011bhem prudk\u00fdch tr\u017en\u00edch v\u00fdkyv\u016f.\r\n<br><br>\r\n\r\n\r\n<h2><strong>Jak n\u00edzce korelovan\u00e1 aktiva dopl\u0148uj\u00ed ETF?<\/strong><\/h2>\r\n\r\nDejme tomu, \u017ee jste vybudovali portfolio, jeho\u017e z\u00e1kladem je ETF sleduj\u00edc\u00ed \u0161irok\u00fd akciov\u00fd trh.\r\n<br><br>\r\n\r\nV\u011b\u0159\u00edte dlouhodob\u00e9mu dr\u017een\u00ed akci\u00ed a po\u010d\u00edt\u00e1te s b\u011b\u017en\u00fdmi v\u00fdkyvy trhu.\r\n<br><br>\r\n\r\nP\u0159id\u00e1n\u00edm n\u00edzce korelovan\u00e9 strategie nemus\u00edte nutn\u011b usilovat o vy\u0161\u0161\u00ed v\u00fdnos. M\u016f\u017ee j\u00edt sp\u00ed\u0161e o omezen\u00ed z\u00e1vislosti cel\u00e9ho portfolia na akciov\u00e9m trhu.\r\n<br><br>\r\n\r\nPorovnejme t\u0159i mo\u017en\u00e9 p\u0159\u00edstupy k rozlo\u017een\u00ed aktiv.\r\n<br><br>\r\n\r\n\r\n<h3><strong>Varianta A: 100% \u0161iroce zam\u011b\u0159en\u00e9 ETF<\/strong><\/h3>\r\n\r\nP\u0159ednost\u00ed je jednoduchost, pr\u016fhlednost a zpravidla ni\u017e\u0161\u00ed n\u00e1klady. Sou\u010dasn\u011b se pln\u011b pod\u00edl\u00edte na v\u00fdvoji sledovan\u00e9ho akciov\u00e9ho trhu.\r\n<br><br>\r\n\r\nNev\u00fdhodou je vysok\u00e1 z\u00e1vislost na akciov\u00e9m riziku. P\u0159i v\u00fdrazn\u00e9 tr\u017en\u00ed korekci m\u016f\u017ee prudce klesnout i cel\u00e9 portfolio.\r\n<br><br>\r\n\r\n\r\n<h3><strong>Varianta B: \u0161iroce zam\u011b\u0159en\u00e9 ETF + dluhopisy<\/strong><\/h3>\r\n\r\nK akci\u00edm p\u0159id\u00e1te odli\u0161nou t\u0159\u00eddu aktiv.\r\n<br><br>\r\n\r\nKvalitn\u00ed dluhopisy mohou p\u0159in\u00e1\u0161et \u00farokov\u00fd v\u00fdnos a za ur\u010dit\u00fdch podm\u00ednek tlumit v\u00fdkyvy. Nesou v\u0161ak \u00farokov\u00e9 a kreditn\u00ed riziko a mohou klesat spole\u010dn\u011b s akciemi.\r\n<br><br>\r\n\r\n\r\n<h3><strong>Varianta C: \u0161iroce zam\u011b\u0159en\u00e9 ETF + n\u00edzce korelovan\u00e1 kvantitativn\u00ed strategie<\/strong><\/h3>\r\n\r\nProst\u0159ednictv\u00edm obchodn\u00ed strategie m\u00e9n\u011b sv\u00e1zan\u00e9 s akciov\u00fdm trhem se pokou\u0161\u00edte vytvo\u0159it dal\u0161\u00ed zdroj v\u00fdnosu.\r\n<br><br>\r\n\r\nPokud n\u00edzk\u00e1 korelace p\u0159etrv\u00e1v\u00e1 a samotn\u00e1 strategie nab\u00edz\u00ed p\u0159ijateln\u00fd pom\u011br rizika a v\u00fdnosu, m\u016f\u017ee zlep\u0161it celkovou efektivitu alokace.\r\n<br><br>\r\n\r\nTak\u00e9 kvantitativn\u00ed strategie v\u0161ak mohou p\u0159in\u00e9st ztr\u00e1tu kapit\u00e1lu, selh\u00e1n\u00ed modelu, probl\u00e9my s likviditou, p\u00e1kov\u00fdm efektem \u010di realizac\u00ed obchod\u016f. N\u00edzk\u00e1 historick\u00e1 korelace nezaru\u010duje ochranu p\u0159i prudk\u00fdch tr\u017en\u00edch pohybech.\r\n<br><br>\r\n\r\n\u017d\u00e1dn\u00e1 z t\u011bchto t\u0159\u00ed variant nen\u00ed za v\u0161ech okolnost\u00ed nejlep\u0161\u00ed. Neznamen\u00e1 to ani, \u017ee si investor mus\u00ed vybrat pouze mezi akciemi, dluhopisy a kvantitativn\u00ed strategi\u00ed.\r\n<br><br>\r\n\r\nLze rovn\u011b\u017e zv\u00e1\u017eit jejich spole\u010dn\u00e9 zastoupen\u00ed v jednom portfoliu.\r\n<br>\r\n\r\n<img loading=\"lazy\" class=\"alignnone wp-image-74355\" src=\"https:\/\/mister.forex\/wp-content\/uploads\/2026\/10\/Max-Drawdown.webp\" alt=\"Hypotetick\u00e9 srovn\u00e1n\u00ed maxim\u00e1ln\u00edho poklesu: 100% \u0161iroce zam\u011b\u0159en\u00e9 ETF minus 32%, ETF s dluhopisy minus 24% a ETF s n\u00edzce korelovanou strategi\u00ed minus 18%.\" width=\"800\" height=\"397\">\r\n<br>\r\n\r\nHypotetick\u00e1 \u010d\u00edsla v grafu srovn\u00e1vaj\u00ed maxim\u00e1ln\u00ed propad t\u0159\u00ed portfoli\u00ed: A (100% \u0161iroce zam\u011b\u0159en\u00e9 ETF) \u221232%, B (ETF + dluhopisy) \u221224% a C (ETF + n\u00edzce korelovan\u00e1 strategie) \u221218%.\r\n<br><br>\r\n\r\nGraf ukazuje, \u017ee p\u0159id\u00e1n\u00ed odli\u0161n\u00e9ho zdroje v\u00fdnosu m\u016f\u017ee zm\u00edrnit hloubku poklesu. Uveden\u00e1 \u010d\u00edsla ale nejsou skute\u010dn\u00e9 v\u00fdsledky a p\u0159\u00edpadn\u00fd p\u0159\u00ednos je t\u0159eba ov\u011b\u0159ovat na historick\u00fdch datech.\r\n<br><br>\r\n\r\n\r\n<h3><strong>Jak hlubok\u00e9 byly historick\u00e9 maxim\u00e1ln\u00ed propady ETF SPY a QQQ?<\/strong><\/h3>\r\n\r\nP\u0159edchoz\u00ed srovn\u00e1n\u00ed A, B a C bylo pouze teoretickou ilustrac\u00ed.\r\n<br><br>\r\n\r\nV re\u00e1ln\u00e9m sv\u011bt\u011b ale i akciov\u00e1 ETF dr\u017e\u00edc\u00ed stovky firem za\u017eila propady mnohem hlub\u0161\u00ed, ne\u017e by mnoz\u00ed investo\u0159i \u010dekali.\r\n<br><br>\r\n\r\n<strong>Maxim\u00e1ln\u00ed propad (Maximum Drawdown, MDD)<\/strong>vyjad\u0159uje nejv\u011bt\u0161\u00ed pokles hodnoty aktiva od p\u0159edchoz\u00edho vrcholu k n\u00e1sleduj\u00edc\u00edmu minimu b\u011bhem dan\u00e9ho sledovan\u00e9ho obdob\u00ed.\r\n<br><br>\r\n\r\nVedle hloubky propadu je d\u016fle\u017eit\u00e9 v\u011bd\u011bt tak\u00e9 to, jak dlouho trval pokles z vrcholu na dno a za jakou dobu se aktivum ode dna vr\u00e1tilo na p\u0159edchoz\u00ed maximum.\r\n<br><br>\r\n\r\nN\u00e1sleduj\u00edc\u00ed tabulka uv\u00e1d\u00ed vybran\u00e9 historick\u00e9 ud\u00e1losti pro SPY a QQQ.\r\n<br><br>\r\n\r\n<div>\r\n<table style=\"width: 100%;min-width: 800px;border-collapse: separate;border-spacing: 0;border: 1px solid #2D4273;border-radius: 6px;text-align: center;font-family: 'Inter', sans-serif;overflow: hidden\">\r\n<thead>\r\n<tr style=\"background-color: #15264D;color: #ffffff\">\r\n<th style=\"padding: 10px 8px;text-align: center;vertical-align: middle;line-height: 1.4;border-right: 1px solid #ffffff;border-bottom: 1px solid #2D4273\"><strong>ETF \/ ud\u00e1lost<\/strong><\/th>\r\n<th style=\"padding: 10px 8px;text-align: center;vertical-align: middle;line-height: 1.4;border-right: 1px solid #ffffff;border-bottom: 1px solid #2D4273\"><strong>Max. pokles<\/strong><\/th>\r\n<th style=\"padding: 10px 8px;text-align: center;vertical-align: middle;line-height: 1.4;border-right: 1px solid #ffffff;border-bottom: 1px solid #2D4273\"><strong>Vrchol \u2192 dno<\/strong><\/th>\r\n<th style=\"padding: 10px 8px;text-align: center;vertical-align: middle;line-height: 1.4;border-right: 1px solid #ffffff;border-bottom: 1px solid #2D4273\"><strong>Dno \u2192 obnova<\/strong><\/th>\r\n<th style=\"padding: 10px 8px;text-align: center;vertical-align: middle;line-height: 1.4;border-bottom: 1px solid #2D4273\"><strong>Vrchol \u2192 obnova<\/strong><\/th>\r\n<\/tr>\r\n<\/thead>\r\n<tbody>\r\n<tr style=\"background-color: #F5F8FC\">\r\n<td style=\"padding: 10px 8px;text-align: center;vertical-align: middle;line-height: 1.4;border-right: 1px solid #2D4273;border-bottom: 1px solid #2D4273\"><strong>SPY | krize 2008<\/strong><\/td>\r\n<td style=\"padding: 10px 8px;text-align: center;vertical-align: middle;line-height: 1.4;border-right: 1px solid #2D4273;border-bottom: 1px solid #2D4273\"><strong>\u221255.2%<\/strong><\/td>\r\n<td style=\"padding: 10px 8px;text-align: center;vertical-align: middle;line-height: 1.4;border-right: 1px solid #2D4273;border-bottom: 1px solid #2D4273\">\u224817m\u011bs.<\/td>\r\n<td style=\"padding: 10px 8px;text-align: center;vertical-align: middle;line-height: 1.4;border-right: 1px solid #2D4273;border-bottom: 1px solid #2D4273\">\u224841m\u011bs.<\/td>\r\n<td style=\"padding: 10px 8px;text-align: center;vertical-align: middle;line-height: 1.4;border-bottom: 1px solid #2D4273\">\u22484r. 10m\u011bs.<\/td>\r\n<\/tr>\r\n<tr style=\"background-color: #FFFFFF\">\r\n<td style=\"padding: 10px 8px;text-align: center;vertical-align: middle;line-height: 1.4;border-right: 1px solid #2D4273;border-bottom: 1px solid #2D4273\"><strong>SPY | pandemie 2020<\/strong><\/td>\r\n<td style=\"padding: 10px 8px;text-align: center;vertical-align: middle;line-height: 1.4;border-right: 1px solid #2D4273;border-bottom: 1px solid #2D4273\">\u221233.7%<\/td>\r\n<td style=\"padding: 10px 8px;text-align: center;vertical-align: middle;line-height: 1.4;border-right: 1px solid #2D4273;border-bottom: 1px solid #2D4273\">\u22481m\u011bs.<\/td>\r\n<td style=\"padding: 10px 8px;text-align: center;vertical-align: middle;line-height: 1.4;border-right: 1px solid #2D4273;border-bottom: 1px solid #2D4273\">\u22485m\u011bs.<\/td>\r\n<td style=\"padding: 10px 8px;text-align: center;vertical-align: middle;line-height: 1.4;border-bottom: 1px solid #2D4273\">\u22486m\u011bs.<\/td>\r\n<\/tr>\r\n<tr style=\"background-color: #F5F8FC\">\r\n<td style=\"padding: 10px 8px;text-align: center;vertical-align: middle;line-height: 1.4;border-right: 1px solid #2D4273;border-bottom: 1px solid #2D4273\"><strong>SPY | r\u016fst sazeb 2022<\/strong><\/td>\r\n<td style=\"padding: 10px 8px;text-align: center;vertical-align: middle;line-height: 1.4;border-right: 1px solid #2D4273;border-bottom: 1px solid #2D4273\">\u221224.5%<\/td>\r\n<td style=\"padding: 10px 8px;text-align: center;vertical-align: middle;line-height: 1.4;border-right: 1px solid #2D4273;border-bottom: 1px solid #2D4273\">\u22489m\u011bs.<\/td>\r\n<td style=\"padding: 10px 8px;text-align: center;vertical-align: middle;line-height: 1.4;border-right: 1px solid #2D4273;border-bottom: 1px solid #2D4273\">\u224814m\u011bs.<\/td>\r\n<td style=\"padding: 10px 8px;text-align: center;vertical-align: middle;line-height: 1.4;border-bottom: 1px solid #2D4273\">\u22481r. 11m\u011bs.<\/td>\r\n<\/tr>\r\n<tr style=\"background-color: #FFFFFF\">\r\n<td style=\"padding: 10px 8px;text-align: center;vertical-align: middle;line-height: 1.4;border-right: 1px solid #2D4273\"><strong>QQQ | tech. bublina 2000<\/strong><\/td>\r\n<td style=\"padding: 10px 8px;text-align: center;vertical-align: middle;line-height: 1.4;border-right: 1px solid #2D4273\"><strong>\u221283.0%<\/strong><\/td>\r\n<td style=\"padding: 10px 8px;text-align: center;vertical-align: middle;line-height: 1.4;border-right: 1px solid #2D4273\">\u22482r. 6m\u011bs.<\/td>\r\n<td style=\"padding: 10px 8px;text-align: center;vertical-align: middle;line-height: 1.4;border-right: 1px solid #2D4273\">\u224812r. 4m\u011bs.<\/td>\r\n<td style=\"padding: 10px 8px;text-align: center;vertical-align: middle;line-height: 1.4\">\u224814r. 11m\u011bs.<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/div>\r\n<br>\r\n\r\n<strong>Zdroje historick\u00fdch \u00fadaj\u016f:<\/strong>\r\n<br><br>\r\n\r\n<ul>\r\n  <li>\r\n    <a href=\"https:\/\/tideline.jbpscapital.com\/market-data\/sp500-bear-markets\" target=\"_blank\" rel=\"noopener noreferrer\">Tideline | S&amp;P 500: medv\u011bd\u00ed trhy a korekce<\/a>: Historick\u00e1 maxima, minima, propady a data zotaven\u00ed SPY.\r\n  <\/li>\r\n  <li>\r\n    <a href=\"https:\/\/assetsanalyzer.com\/etf\/SPY\/performance\" target=\"_blank\" rel=\"noopener noreferrer\">AssetsAnalyzer | anal\u00fdza propad\u016f SPY<\/a>: K\u0159\u00ed\u017eov\u00e1 kontrola \u00fadaj\u016f o historick\u00fdch propadech SPY.\r\n  <\/li>\r\n  <li>\r\n    <a href=\"https:\/\/fasttrack.net\/tools\/maximum-drawdown\/QQQ\" target=\"_blank\" rel=\"noopener noreferrer\">Investors FastTrack | maxim\u00e1ln\u00ed propad a zotaven\u00ed QQQ<\/a>: Historick\u00fd maxim\u00e1ln\u00ed propad QQQ a datum zotaven\u00ed po splasknut\u00ed technologick\u00e9 bubliny.\r\n  <\/li>\r\n<\/ul>\r\n<br>\r\n\r\n<strong>Pozn\u00e1mka k \u00fadaj\u016fm:<\/strong>Uveden\u00e9 historick\u00e9 \u00fadaje vych\u00e1zej\u00ed z denn\u00edch z\u00e1v\u011bre\u010dn\u00fdch cen upraven\u00fdch o reinvestovan\u00e9 dividendy, tedy z celkov\u00e9ho v\u00fdnosu; \u00fadaje v m\u011bs\u00edc\u00edch jsou p\u0159ibli\u017en\u00e9. Doba od vrcholu po \u00fapln\u00e9 zotaven\u00ed se vztahuje ke konkr\u00e9tn\u00edm ud\u00e1lostem, nikoli k pr\u016fm\u011brn\u00e9 dob\u011b zotaven\u00ed ETF. \u00dadaje pro SPY jsou aktualizov\u00e1ny k 30. z\u00e1\u0159\u00ed 2026, pro QQQ do \u0159\u00edjna 2026. V\u00fdpo\u010dty zalo\u017een\u00e9 pouze na cen\u011b a na celkov\u00e9m v\u00fdnosu v\u010detn\u011b dividend mohou d\u00e1t odli\u0161n\u00e9 hloubky propadu i data zotaven\u00ed.\r\n<br><br>\r\n\r\nTabulka ukazuje, \u017ee b\u011bhem finan\u010dn\u00ed krize v roce 2008 se SPY propadlo p\u0159ibli\u017en\u011b o 55.2% a n\u00e1vrat na maximum p\u0159ed kriz\u00ed trval t\u00e9m\u011b\u0159 p\u011bt let.\r\n<br><br>\r\n\r\nPo splasknut\u00ed technologick\u00e9 bubliny v roce 2000 dos\u00e1hl maxim\u00e1ln\u00ed propad QQQ p\u0159ibli\u017en\u011b 83% a cesta k p\u0159edchoz\u00edmu vrcholu trvala t\u00e9m\u011b\u0159 patn\u00e1ct let.\r\n<br><br>\r\n\r\nNaproti tomu SPY se po pandemick\u00e9m propadu v roce 2020 vr\u00e1tilo na p\u0159edchoz\u00ed maximum p\u0159ibli\u017en\u011b za p\u016fl roku.\r\n<br><br>\r\n\r\n<strong>Maxim\u00e1ln\u00ed propad ukazuje hloubku ztr\u00e1ty, doba zotaven\u00ed d\u00e9lku \u010dek\u00e1n\u00ed.<\/strong>\r\n<br><br>\r\n\r\nNejt\u011b\u017e\u0161\u00ed \u010d\u00e1st dlouhodob\u00e9ho investov\u00e1n\u00ed p\u0159itom nemus\u00ed b\u00fdt pouze psychick\u00fd tlak.\r\n<br><br>\r\n\r\nP\u0159edstavte si, \u017ee je v\u00e1m 40 let a ka\u017ed\u00fd m\u011bs\u00edc pravideln\u011b investujete US$500 do \u0161iroce zam\u011b\u0159en\u00e9ho ETF.\r\n<br><br>\r\n\r\nRozum\u00edte pravideln\u00e9mu investov\u00e1n\u00ed a jste ochotni pokra\u010dovat i p\u0159i poklesu trhu.\r\n<br><br>\r\n\r\nPak ale p\u0159ijde recese, akcie padaj\u00ed a zam\u011bstnavatel propou\u0161t\u00ed. Najednou m\u016f\u017eete p\u0159ij\u00edt o sv\u016fj pracovn\u00ed p\u0159\u00edjem.\r\n<br><br>\r\n\r\nSpl\u00e1tky hypot\u00e9ky, b\u011b\u017en\u00e9 v\u00fddaje ani n\u00e1klady na vzd\u011bl\u00e1n\u00ed d\u011bt\u00ed t\u00edm ov\u0161em nezmiz\u00ed.\r\n<br><br>\r\n\r\nPokud nem\u00e1te dostate\u010dnou rezervu, m\u016f\u017eete b\u00fdt nuceni prodat ETF se ztr\u00e1tou, abyste pokryli nezbytn\u00e9 v\u00fddaje.\r\n<br><br>\r\n\r\n<strong>Nejt\u011b\u017e\u0161\u00ed nemus\u00ed b\u00fdt ch\u00e1pat dlouhodob\u00e9 investov\u00e1n\u00ed, ale m\u00edt hotovost, abyste u n\u011bj vydr\u017eeli.<\/strong>\r\n<br><br>\r\n\r\nPodobn\u00fd probl\u00e9m mohou \u0159e\u0161it i d\u016fchodci: b\u011bhem poklesu trhu mus\u00ed pravideln\u011b vyb\u00edrat prost\u0159edky na \u017eivobyt\u00ed, a t\u00edm sni\u017euj\u00ed \u010d\u00e1st portfolia, kter\u00e1 by se jinak mohla \u00fa\u010dastnit pozd\u011bj\u0161\u00edho zotaven\u00ed.\r\n<br><br>\r\n\r\nProto vedle o\u010dek\u00e1van\u00fdch v\u00fdnos\u016f jednotliv\u00fdch aktiv stoj\u00ed za to \u0159\u00eddit i riziko hlubok\u00fdch propad\u016f a nedostatku pen\u011b\u017en\u00edch tok\u016f, abyste mohli pokra\u010dovat v dlouhodob\u00e9m pl\u00e1nu.\r\n<br><br>\r\n\r\nI proto m\u00e1 maxim\u00e1ln\u00ed propad sv\u00e9 m\u00edsto p\u0159i hodnocen\u00ed alokace aktiv.\r\n<br><br>\r\n\r\nVhodn\u00e1 skladba portfolia z\u00e1vis\u00ed na va\u0161ich c\u00edlech, toleranci rizika, investi\u010dn\u00edm horizontu a roli jednotliv\u00fdch aktiv v celku.\r\n<br><br>\r\n\r\n\r\n<h2><strong>Kvantitativn\u00ed strategie v portfoliu ETF<\/strong><\/h2>\r\n\r\nPokud u\u017e dr\u017e\u00edte \u0161iroce zam\u011b\u0159en\u00e9 ETF, dal\u0161\u00ed zaj\u00edmavou mo\u017enost\u00ed nemus\u00ed b\u00fdt jen dal\u0161\u00ed akciov\u00e9 ETF.\r\n<br><br>\r\n\r\nN\u011bkdy stoj\u00ed za to polo\u017eit si sp\u00ed\u0161e tuto ot\u00e1zku:\r\n<br><br>\r\n\r\n<strong>\u201ePot\u0159ebuji tak\u00e9 zdroj v\u00fdnosu, kter\u00fd nen\u00ed z\u00e1visl\u00fd na r\u016fstu akciov\u00e9ho trhu?\u201c<\/strong>\r\n<br><br>\r\n\r\nPr\u00e1v\u011b tento odli\u0161n\u00fd investi\u010dn\u00ed pohled chce Mr.Forex p\u0159edstavit prost\u0159ednictv\u00edm kvantitativn\u00edch obchodn\u00edch strategi\u00ed.\r\n<br><br>\r\n\r\n\r\n<h3><strong>V\u00fdnosy se nemusej\u00ed \u0159\u00eddit sm\u011brem cel\u00e9ho trhu<\/strong><\/h3>\r\n\r\nKvantitativn\u00ed obchodn\u00ed strategie Mr.Forex usiluj\u00ed o zdroje v\u00fdnos\u016f, kter\u00e9 se li\u0161\u00ed od tradi\u010dn\u00edho akciov\u00e9ho trhu.\r\n<br><br>\r\n\r\nD\u016fle\u017eit\u00fdm ukazatelem p\u0159i jejich hodnocen\u00ed je historick\u00e1 korelace v\u00fdnos\u016f strategie s akciov\u00fdm trhem.\r\n<br><br>\r\n\r\nPokud porovn\u00e1me v\u00fdnosy za toto\u017en\u00e9 obdob\u00ed a se stejnou frekvenc\u00ed a vypo\u010dten\u00e1 korelace vyjde bl\u00edzko 0, znamen\u00e1 to, \u017ee v dan\u00e9m obdob\u00ed mezi v\u00fdnosy strategie a trhu nebyl v\u00fdrazn\u00fd line\u00e1rn\u00ed vztah.\r\n<br><br>\r\n\r\nTakov\u00e1 strategie proto m\u016f\u017ee m\u00edt jin\u00e9 vlastnosti pro alokaci aktiv ne\u017e b\u011b\u017en\u00e9 akciov\u00e9 ETF.\r\n<br><br>\r\n\r\nHistorick\u00e1 korelace se v\u0161ak m\u016f\u017ee m\u011bnit podle tr\u017en\u00edho prost\u0159ed\u00ed. To, \u017ee byla v minulosti n\u00edzk\u00e1, nezaru\u010duje stejn\u00fd v\u00fdsledek v budoucnu.\r\n<br><br>\r\n\r\n\r\n<h3><strong>C\u00edlem nen\u00ed ETF nahradit, ale hledat vhodn\u00e9 dopln\u011bn\u00ed<\/strong><\/h3>\r\n\r\nNetvrd\u00edme, \u017ee ka\u017ed\u00fd investor mus\u00ed prodat sv\u00e9 \u0161iroce zam\u011b\u0159en\u00e9 ETF a za\u010d\u00edt kvantitativn\u011b obchodovat.\r\n<br><br>\r\n\r\nETF m\u016f\u017ee nad\u00e1le tvo\u0159it dlouhodob\u00e9 j\u00e1dro portfolia a kvantitativn\u00ed strategie lze posuzovat jako mo\u017en\u00e9 dal\u0161\u00ed zdroje v\u00fdnos\u016f.\r\n<br><br>\r\n\r\nPodstatn\u00e9 nen\u00ed jen to, kolik samotn\u00e1 strategie vyd\u011blala, ale p\u0159edev\u0161\u00edm:\r\n<br><br>\r\n\r\n<strong>Jak se zm\u011bn\u00ed rizikov\u011b-v\u00fdnosov\u00fd profil va\u0161eho portfolia, kdy\u017e tuto strategii p\u0159id\u00e1te ke st\u00e1vaj\u00edc\u00edmu ETF?<\/strong>\r\n<br><br>\r\n\r\nNap\u0159\u00edklad:\r\n\r\n<ol>\r\n  <li>Sn\u00ed\u017e\u00ed se volatilita dosavadn\u00edho portfolia?<\/li>\r\n  <li>Zm\u00edrn\u00ed se maxim\u00e1ln\u00ed propad?<\/li>\r\n  <li>Zlep\u0161\u00ed se rizikov\u011b o\u010di\u0161t\u011bn\u00fd v\u00fdnos?<\/li>\r\n  <li>P\u0159etrvaj\u00ed p\u0159\u00edpadn\u00e1 zlep\u0161en\u00ed i po zohledn\u011bn\u00ed transak\u010dn\u00edch n\u00e1klad\u016f?<\/li>\r\n<\/ol>\r\n<br>\r\n\r\nPr\u00e1v\u011b takov\u00e9 ot\u00e1zky maj\u00ed b\u00fdt v centru pozornosti p\u0159i alokaci aktiv.\r\n<br><br>\r\n\r\n\r\n<h3><strong>Jak\u00e9 \u00fadaje ov\u011b\u0159it je\u0161t\u011b p\u0159ed investic\u00ed?<\/strong><\/h3>\r\n\r\nP\u0159i hodnocen\u00ed strategi\u00ed Mr.Forex nebo jak\u00e9koli jin\u00e9 kvantitativn\u00ed strategie doporu\u010dujeme nesledovat pouze kumulativn\u00ed v\u00fdnos.\r\n<br><br>\r\n\r\nVyhodnocujte tak\u00e9:\r\n<br><br>\r\n\r\n<ul>\r\n  <li>\r\n    <strong>Korelaci s cel\u00fdm trhem:<\/strong>\r\n    Jak siln\u011b souvisely historick\u00e9 v\u00fdnosy strategie s akciov\u00fdm trhem a zda byl tento vztah stabiln\u00ed v r\u016fzn\u00fdch tr\u017en\u00edch podm\u00ednk\u00e1ch.\r\n  <\/li>\r\n  <li>\r\n    <strong>Maxim\u00e1ln\u00ed propad v procentech:<\/strong>\r\n    Jak\u00fd byl historicky nejv\u011bt\u0161\u00ed pokles hodnoty \u010dist\u00fdch aktiv od vrcholu k n\u00e1sleduj\u00edc\u00edmu minimu.\r\n  <\/li>\r\n  <li>\r\n    <strong>Doba zotaven\u00ed po propadu:<\/strong>\r\n    Jak dlouho trval n\u00e1vrat z historick\u00e9ho minima na p\u0159edchoz\u00ed maximum a zda n\u011bkter\u00e9 propady dosud nebyly p\u0159ekon\u00e1ny.\r\n  <\/li>\r\n  <li>\r\n    <strong>Rizikov\u011b o\u010di\u0161t\u011bn\u00fd v\u00fdnos:<\/strong>\r\n    Jak\u00fd v\u00fdnos strategie vyk\u00e1zala ve vztahu k podstoupen\u00e9mu riziku.\r\n  <\/li>\r\n  <li>\r\n    <strong>Obdob\u00ed a povaha historick\u00fdch v\u00fdsledk\u016f:<\/strong>\r\n    Zahrnuj\u00ed v\u00fdsledky r\u016fzn\u00e9 tr\u017en\u00ed podm\u00ednky? Jde o skute\u010dn\u00e9 obchody, nebo v\u00fdsledky zp\u011btn\u00fdch test\u016f?\r\n  <\/li>\r\n  <li>\r\n    <strong>Obchodn\u00ed podm\u00ednky a poplatky:<\/strong>\r\n    Odpov\u00eddaj\u00ed p\u00e1kov\u00fd efekt, likvidita, transak\u010dn\u00ed n\u00e1klady a p\u0159\u00edpadn\u00e9 rozd\u00edly p\u0159i kop\u00edrov\u00e1n\u00ed obchod\u016f va\u0161\u00ed toleranci rizika?\r\n  <\/li>\r\n<\/ul>\r\n<br>\r\n\r\nMr.Forex neusiluje o maximalizaci v\u00fdnos\u016f za ka\u017edou cenu. Vedle p\u0159im\u011b\u0159en\u00e9ho v\u00fdnosu zd\u016fraz\u0148uje tak\u00e9 \u0159\u00edzen\u00ed propad\u016f a z\u00e1t\u011b\u017ee, kterou investov\u00e1n\u00ed p\u0159in\u00e1\u0161\u00ed.\r\n<br><br>\r\n\r\n<strong>\u0158\u00edzen\u00ed rizik m\u00e1 p\u0159ednost p\u0159ed vidinou rychl\u00e9ho zbohatnut\u00ed.<\/strong>\r\n<br><br>\r\n\r\nChcete-li posoudit, zda by se do va\u0161eho portfolia hodila n\u00edzce korelovan\u00e1 kvantitativn\u00ed strategie, prostudujte si p\u0159ed rozhodnut\u00edm jej\u00ed v\u00fdkonnost a rizikov\u00e9 \u00fadaje poskytovan\u00e9 Mr.Forex.\r\n<br><br>\r\n\r\n\r\n<h2><strong>Za sedm\u00e9: \u010casto kladen\u00e9 ot\u00e1zky (FAQ)<\/strong><\/h2>\r\n\r\n\r\n<h3><strong>Q1: Nesta\u010d\u00ed \u0161iroce zam\u011b\u0159en\u00e9 ETF k dostate\u010dn\u00e9 diverzifikaci?<\/strong><\/h3>\r\n\r\n\u0160iroce zam\u011b\u0159en\u00e9 ETF \u00fa\u010dinn\u011b rozkl\u00e1d\u00e1 riziko jednotliv\u00fdch spole\u010dnost\u00ed, st\u00e1le v\u0161ak podl\u00e9h\u00e1 v\u00fdvoji cel\u00e9ho akciov\u00e9ho trhu.\r\n<br><br>\r\n\r\nChcete-li z\u00e1vislost na akci\u00edch d\u00e1le omezit, m\u016f\u017eete posoudit dluhopisy nebo jin\u00e1 n\u00edzce korelovan\u00e1 aktiva a jejich p\u0159\u00edpadn\u00fd vliv na celkov\u00e9 riziko portfolia.\r\n<br><br>\r\n\r\n\r\n<h3><strong>Q2: Pro\u010d se akcie p\u0159ekr\u00fdvaj\u00ed, i kdy\u017e vlastn\u00edm v\u00edce ETF?<\/strong><\/h3>\r\n\r\nR\u016fzn\u00e1 ETF mohou ve sledovan\u00fdch indexech nebo podle sv\u00fdch pravidel v\u00fdb\u011bru zahrnovat stejn\u00e9 spole\u010dnosti.\r\n<br><br>\r\n\r\nNap\u0159\u00edklad ETF sleduj\u00edc\u00ed S&amp;P 500 a Nasdaq 100 a ETF zam\u011b\u0159en\u00e9 na velk\u00e9 r\u016fstov\u00e9 akcie mohou sou\u010dasn\u011b vlastnit pod\u00edly v n\u011bkter\u00fdch velk\u00fdch technologick\u00fdch firm\u00e1ch.\r\n<br><br>\r\n\r\nProto je vhodn\u00e9 kontrolovat nejen po\u010det ETF, ale i jejich podkladov\u00e9 pozice, v\u00e1hy a celkovou tr\u017en\u00ed expozici.\r\n<br><br>\r\n\r\n\r\n<h3><strong>Q3: Co znamen\u00e1 investice s nulovou korelac\u00ed?<\/strong><\/h3>\r\n\r\nNulov\u00e1 korelace znamen\u00e1, \u017ee korela\u010dn\u00ed koeficient v\u00fdnos\u016f dvou aktiv je bl\u00edzko 0: v historick\u00fdch datech tedy nen\u00ed patrn\u00fd v\u00fdrazn\u00fd line\u00e1rn\u00ed vztah.\r\n<br><br>\r\n\r\nNeznamen\u00e1 to \u00faplnou nez\u00e1vislost t\u011bchto aktiv ani vylou\u010den\u00ed mo\u017enosti ztr\u00e1ty.\r\n<br><br>\r\n\r\n\r\n<h3><strong>Q4: Je nulov\u00e1 korelace lep\u0161\u00ed ne\u017e z\u00e1porn\u00e1?<\/strong><\/h3>\r\n\r\nNe nutn\u011b.\r\n<br><br>\r\n\r\nZ\u00e1porn\u011b korelovan\u00e1 aktiva mohou v n\u011bkter\u00fdch situac\u00edch p\u0159\u00edmo tlumit tr\u017en\u00ed v\u00fdkyvy, tento vztah v\u0161ak nemus\u00ed b\u00fdt stabiln\u00ed.\r\n<br><br>\r\n\r\nAktiva s korelac\u00ed bl\u00edzkou nule zase mohou nab\u00eddnout jin\u00fd zdroj v\u00fdnos\u016f.\r\n<br><br>\r\n\r\nV obou p\u0159\u00edpadech je nutn\u00e9 hodnotit tak\u00e9 v\u00fdnos, volatilitu, n\u00e1klady a riziko extr\u00e9mn\u00edch tr\u017en\u00edch ud\u00e1lost\u00ed.\r\n<br><br>\r\n\r\n\r\n<h3><strong>Q5: Je kvantitativn\u00ed obchodov\u00e1n\u00ed v\u017edy nez\u00e1visl\u00e9 na akciov\u00e9m trhu?<\/strong><\/h3>\r\n\r\nNen\u00ed.\r\n<br><br>\r\n\r\nKvantitativn\u00ed obchodov\u00e1n\u00ed je zp\u016fsob obchodov\u00e1n\u00ed vyu\u017e\u00edvaj\u00edc\u00ed pravidla, statistick\u00e9 modely nebo programov\u00e9 postupy.\r\n<br><br>\r\n\r\nJednotliv\u00e9 strategie mohou s trhem vykazovat kladnou, z\u00e1pornou i n\u00edzkou korelaci; skute\u010dn\u00fd vztah je pot\u0159eba spo\u010d\u00edtat z v\u00fdsledk\u016f.\r\n<br><br>\r\n\r\n\r\n<h3><strong>Q6: Sn\u00ed\u017e\u00ed p\u0159id\u00e1n\u00ed n\u00edzce korelovan\u00e9 strategie riziko portfolia ETF automaticky?<\/strong><\/h3>\r\n\r\nNe, automaticky nikoli.\r\n<br><br>\r\n\r\nZ\u00e1le\u017e\u00ed na volatilit\u011b samotn\u00e9 strategie, jej\u00ed korelaci s ETF, vah\u00e1ch aktiv a aktu\u00e1ln\u00edm tr\u017en\u00edm prost\u0159ed\u00ed.\r\n<br><br>\r\n\r\nPokud je strategie p\u0159\u00edli\u0161 rizikov\u00e1, m\u016f\u017ee zv\u00fd\u0161it riziko cel\u00e9ho portfolia, i kdy\u017e jej\u00ed korelace vych\u00e1z\u00ed bl\u00edzko nuly.\r\n<br><br>\r\n\r\nNi\u017e\u0161\u00ed volatilita v b\u011b\u017en\u00fdch podm\u00ednk\u00e1ch nav\u00edc nezaru\u010duje ochranu p\u0159ed ztr\u00e1tami za extr\u00e9mn\u00edch tr\u017en\u00edch ud\u00e1lost\u00ed.\r\n<br><br>\r\n\r\n\r\n<h3><strong>Q7: Pro\u010d sledovat maxim\u00e1ln\u00ed propad ETF a dobu zotaven\u00ed?<\/strong><\/h3>\r\n\r\nMaxim\u00e1ln\u00ed propad ukazuje, jak hluboko historicky hodnota investice klesla od p\u0159edchoz\u00edho vrcholu. Doba zotaven\u00ed \u0159\u00edk\u00e1, jak dlouho trval n\u00e1vrat z minima na d\u0159\u00edv\u011bj\u0161\u00ed maximum.\r\n<br><br>\r\n\r\nNap\u0159\u00edklad b\u011bhem finan\u010dn\u00ed krize v roce 2008 dos\u00e1hl maxim\u00e1ln\u00ed propad SPY p\u0159ibli\u017en\u011b 55.2% a \u00fapln\u00e9 zotaven\u00ed na p\u0159edkrizovou \u00farove\u0148 trvalo t\u00e9m\u011b\u0159 p\u011bt let.\r\n<br><br>\r\n\r\nI u investic s dlouhodob\u00fdm r\u016fstov\u00fdm potenci\u00e1lem byste m\u011bli v\u011bd\u011bt, zda unesete pr\u016fb\u011b\u017en\u00e9 ztr\u00e1ty a p\u0159\u00edpadn\u00e9 dlouh\u00e9 \u010dek\u00e1n\u00ed.\r\n<br><br>\r\n\r\n\r\n<h3><strong>Q8: Hod\u00ed se kop\u00edrov\u00e1n\u00ed kvantitativn\u00edch obchod\u016f k ETF?<\/strong><\/h3>\r\n\r\nZ\u00e1le\u017e\u00ed na va\u0161\u00ed finan\u010dn\u00ed situaci, ochot\u011b n\u00e9st riziko a investi\u010dn\u00edch c\u00edlech.\r\n<br><br>\r\n\r\nKvantitativn\u00ed obchodov\u00e1n\u00ed m\u016f\u017ee nab\u00eddnout jin\u00fd zdroj v\u00fdnos\u016f, kop\u00edrov\u00e1n\u00ed obchod\u016f v\u0161ak p\u0159in\u00e1\u0161\u00ed riziko ztr\u00e1ty kapit\u00e1lu, rozd\u00edl\u016f v proveden\u00ed a selh\u00e1n\u00ed strategie. Nejd\u0159\u00edve se seznamte s podm\u00ednkami a riziky.\r\n<br><br>\r\n\r\nNejde jen o to, zda u\u017e m\u00e1te ETF, ale zda nov\u00e1 strategie smyslupln\u011b dopln\u00ed cel\u00e9 portfolio.\r\n<br><br>\r\n\r\n\r\n<h2><strong>Z\u00e1v\u011br: Ne dal\u0161\u00ed ETF, ale odli\u0161n\u00e9 zdroje v\u00fdnos\u016f<\/strong><\/h2>\r\n\r\n\u0160iroce zam\u011b\u0159en\u00e9 ETF z\u016fst\u00e1v\u00e1 pro mnoho investor\u016f rozumnou volbou p\u0159i dlouhodob\u00e9m budov\u00e1n\u00ed majetku.\r\n<br><br>\r\n\r\nInvestovat do akci\u00ed r\u016fzn\u00fdch spole\u010dnost\u00ed v\u0161ak nen\u00ed tot\u00e9\u017e jako sestavit skute\u010dn\u011b diverzifikovan\u00e9 portfolio.\r\n<br><br>\r\n\r\nPrvn\u00ed p\u0159\u00edstup rozkl\u00e1d\u00e1 riziko uvnit\u0159 akciov\u00e9ho trhu. Druh\u00fd zkoum\u00e1, jak sn\u00ed\u017eit z\u00e1vislost ve\u0161ker\u00e9ho majetku na stejn\u00fdch rizikov\u00fdch faktorech.\r\n<br><br>\r\n\r\nHistorick\u00e9 propady SPY a QQQ n\u00e1m p\u0159ipom\u00ednaj\u00ed, \u017ee i velmi \u0161iroce diverzifikovan\u00e1 akciov\u00e1 ETF mohou b\u011bhem kriz\u00ed hluboce klesat a zotavovat se mnoho let.\r\n<br><br>\r\n\r\nDlouhodob\u00e9mu investorovi proto nesta\u010d\u00ed v\u011b\u0159it v r\u016fstov\u00fd potenci\u00e1l. Mus\u00ed tak\u00e9 zvl\u00e1dnout rizika na cest\u011b k mo\u017en\u00e9mu v\u00fdnosu.\r\n<br><br>\r\n\r\nAkcie, dluhopisy i n\u00edzce korelovan\u00e9 kvantitativn\u00ed strategie mohou m\u00edt v portfoliu r\u016fzn\u00e9 \u00falohy.\r\n<br><br>\r\n\r\nNemusej\u00ed se vz\u00e1jemn\u011b nahrazovat. Je vhodn\u00e9 posoudit, zda se na \u00farovni cel\u00e9ho portfolia mohou dopl\u0148ovat.\r\n<br><br>\r\n\r\n<strong>Dobr\u00e1 alokace nehled\u00e1 jen nejvy\u0161\u0161\u00ed v\u00fdnos; kombinuje aktiva podle dlouhodob\u00fdch c\u00edl\u016f a p\u0159ijateln\u00e9ho rizika.<\/strong>\r\n<br><br>\r\n\r\nM\u00e1te-li u\u017e \u0161iroce zam\u011b\u0159en\u00e9 ETF, mo\u017en\u00e1 stoj\u00ed za to poznat tak\u00e9 investi\u010dn\u00ed p\u0159\u00edstup, jeho\u017e v\u00fdsledky nemusej\u00ed v\u017edy kop\u00edrovat akciov\u00fd trh.\r\n<br><br>\r\n\r\n\r\n<h3><strong>Prozkoumejte i jin\u00e9 zdroje v\u00fdnos\u016f ne\u017e ETF<\/strong><\/h3>\r\n\r\nSeznamte se s historickou v\u00fdkonnost\u00ed kvantitativn\u00edch strategi\u00ed Mr.Forex, jejich korelac\u00ed s akciov\u00fdm trhem, maxim\u00e1ln\u00edm propadem, dobou zotaven\u00ed a dal\u0161\u00edmi ukazateli rizika. Posu\u010fte, zda by mohly vhodn\u011b doplnit va\u0161e st\u00e1vaj\u00edc\u00ed portfolio ETF.\r\n<br><br>\r\n\r\n<hr><br>\r\n\r\n<strong>Upozorn\u011bn\u00ed na rizika:<\/strong>\r\nTento \u010dl\u00e1nek slou\u017e\u00ed pouze k finan\u010dn\u00edmu vzd\u011bl\u00e1v\u00e1n\u00ed a obecn\u00fdm informa\u010dn\u00edm \u00fa\u010del\u016fm. Nep\u0159edstavuje osobn\u00ed investi\u010dn\u00ed doporu\u010den\u00ed ani z\u00e1ruku zisku. <br><br>Varianty alokace A, B a C a dal\u0161\u00ed simulovan\u00e1 \u010d\u00edsla slou\u017e\u00ed jen k vysv\u011btlen\u00ed princip\u016f a neodr\u00e1\u017eej\u00ed skute\u010dnou v\u00fdkonnost \u017e\u00e1dn\u00e9 strategie; historick\u00e9 \u00fadaje o SPY a QQQ se vztahuj\u00ed ke zve\u0159ejn\u011bn\u00fdm z\u00e1znam\u016fm konkr\u00e9tn\u00edch tr\u017en\u00edch ud\u00e1lost\u00ed. Minul\u00e1 v\u00fdkonnost, korelace, maxim\u00e1ln\u00ed propady ani doba zotaven\u00ed nejsou z\u00e1rukou budouc\u00edch v\u00fdsledk\u016f. Investice do akci\u00ed, dluhopis\u016f, kvantitativn\u00edho obchodov\u00e1n\u00ed i kop\u00edrov\u00e1n\u00ed obchod\u016f mohou v\u00e9st ke ztr\u00e1t\u011b kapit\u00e1lu. <br><br>N\u011bkter\u00e9 strategie nav\u00edc vyu\u017e\u00edvaj\u00ed p\u00e1ku nebo nesou rizika likvidity, selh\u00e1n\u00ed model\u016f a odchylek p\u0159i prov\u00e1d\u011bn\u00ed obchod\u016f. P\u0159ed investic\u00ed se d\u016fkladn\u011b seznamte se strategi\u00ed, podm\u00ednkami obchodov\u00e1n\u00ed a souvisej\u00edc\u00edmi poplatky.<\/span><\/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>M\u00e1te ETF sleduj\u00edc\u00ed \u0161irok\u00fd trh. Pro\u010d p\u0159id\u00e1vat dal\u0161\u00ed investice? Poznejte p\u0159ekryv akci\u00ed, historick\u00e9 propady SPY a QQQ i roli dluhopis\u016f a n\u00edzce korelovan\u00fdch strategi\u00ed p\u0159i \u0159\u00edzen\u00ed rizika portfolia.<\/p>","protected":false},"author":1,"featured_media":74485,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"tags":[128],"class_list":["post-74343","page","type-page","status-publish","has-post-thumbnail","hentry","tag-no-google"],"_links":{"self":[{"href":"https:\/\/mister.forex\/cs\/wp-json\/wp\/v2\/pages\/74343","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=74343"}],"version-history":[{"count":40,"href":"https:\/\/mister.forex\/cs\/wp-json\/wp\/v2\/pages\/74343\/revisions"}],"predecessor-version":[{"id":74563,"href":"https:\/\/mister.forex\/cs\/wp-json\/wp\/v2\/pages\/74343\/revisions\/74563"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mister.forex\/cs\/wp-json\/wp\/v2\/media\/74485"}],"wp:attachment":[{"href":"https:\/\/mister.forex\/cs\/wp-json\/wp\/v2\/media?parent=74343"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mister.forex\/cs\/wp-json\/wp\/v2\/tags?post=74343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}