{"title":"在股票投资中构建系统性创新因素","authors":"Margaréta Pauchlyová, Radovan Vojtko","doi":"10.57017/jorit.v3.1(5).03","DOIUrl":null,"url":null,"abstract":"This paper has several aims. First, it seeks to answer whether a portfolio comprised of top innovators outperforms the S&P 500 index. To achieve this, a strategy was developed to invest long in top innovators based on their ranking, and its performance was compared to that of the broad-based index. Secondly, the paper aims to assess the volatility associated with innovative stocks, given the common belief that higher innovativeness carries higher risk. Additionally, it seeks to analyse the impact of sector factors on the portfolio's performance. Finally, the paper conducts a comparative analysis between the portfolio's performance and that of the ARK Innovation ETF (ARKK), which specifically focuses on investing in companies relevant to the theme of disruptive innovation.","PeriodicalId":165708,"journal":{"name":"Journal of Research, Innovation and Technologies (JoRIT)","volume":"72 9","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2024-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Building a Systematic Innovation Factor in Stock Investing\",\"authors\":\"Margaréta Pauchlyová, Radovan Vojtko\",\"doi\":\"10.57017/jorit.v3.1(5).03\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This paper has several aims. First, it seeks to answer whether a portfolio comprised of top innovators outperforms the S&P 500 index. To achieve this, a strategy was developed to invest long in top innovators based on their ranking, and its performance was compared to that of the broad-based index. Secondly, the paper aims to assess the volatility associated with innovative stocks, given the common belief that higher innovativeness carries higher risk. Additionally, it seeks to analyse the impact of sector factors on the portfolio's performance. Finally, the paper conducts a comparative analysis between the portfolio's performance and that of the ARK Innovation ETF (ARKK), which specifically focuses on investing in companies relevant to the theme of disruptive innovation.\",\"PeriodicalId\":165708,\"journal\":{\"name\":\"Journal of Research, Innovation and Technologies (JoRIT)\",\"volume\":\"72 9\",\"pages\":\"\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2024-06-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Journal of Research, Innovation and Technologies (JoRIT)\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.57017/jorit.v3.1(5).03\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Research, Innovation and Technologies (JoRIT)","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.57017/jorit.v3.1(5).03","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Building a Systematic Innovation Factor in Stock Investing
This paper has several aims. First, it seeks to answer whether a portfolio comprised of top innovators outperforms the S&P 500 index. To achieve this, a strategy was developed to invest long in top innovators based on their ranking, and its performance was compared to that of the broad-based index. Secondly, the paper aims to assess the volatility associated with innovative stocks, given the common belief that higher innovativeness carries higher risk. Additionally, it seeks to analyse the impact of sector factors on the portfolio's performance. Finally, the paper conducts a comparative analysis between the portfolio's performance and that of the ARK Innovation ETF (ARKK), which specifically focuses on investing in companies relevant to the theme of disruptive innovation.
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