Análise de risco e retorno de carteiras recomendadas por corretoras brasileiras

Abstract

This work presents a contribution to the study of the relationship between risk and return in recommended portfolios by different brokerage firms that operate in Brazil. It seeks help the individual investor, who wants to invest in shares through portfolios suggested by these institutions, at the time of the choice between one or another portfolio, so as to minimize the risk without opening hand of an attractive return. For this reason, were analyzed sixteen portfolios, each one referring to an institution, based on the ranking of recommended portfolios monthly portal Infomoney, from December 2011 to November 2013. The data of the profitability of same, used in the study, were obtained from the site of the aforementioned portal and on the web site of the CETIP in the case of the CDI, used as a benchmark. As the analysis technique, was used the Sharpe ratio, seen that this informs the prize that gets by risk incurred. The results show that the risk plays a fundamental role in the choice of a portfolio and not only the return.