របៀបធ្វើពិពិធកម្មផលប័ត្ររបស់អ្នកលើសពីភាគហ៊ុន

One thing even new investors understand is the concept of ពិពិធកម្ម, or the blending of ចំណាត់ថ្នាក់ទ្រព្យសម្បត្តិ to reduce risk. But even with a well-diversified stock portfolio, an individual is still exposed to ហានិភ័យទីផ្សារ (ឬ systematic risk), which cannot be reduced by adding additional stocks. Below we discuss the principles of diversification and how investors can build a truly diversified portfolio.

What Exactly Is Diversification?

Diversification works by spreading your investments among a variety of asset classes (such as stocks, bonds, cash, T-bills, real estate, etc.) that have a low ទំនាក់ទំនង to each other. Low correlation reduces ភាពប្រែប្រួល. The assets rise and fall in price at different times and at different rates, and based on a variety of factors. A portfolio holding diversified assets helps to create more consistency and improve overall performance.

How Does Correlation Work?

Correlation is simple: If two asset classes are perfectly correlated, they are said to have a correlation of +1. This means they move in lockstep with each other, either up or down.

A completely random correlation—a relationship in which one asset’s chance of rising is equal to the chance of it dropping if the other asset rises or falls—has a correlation of 0.

If two asset classes move in exact opposition—for every uptick in one asset there is an equal downtick in the other, and vice versa—they are negatively correlated, or have a correlation of -1.

Diversified Stock Portfolio vs. Diversified Portfolio of Assets

នៅពេលយើងនិយាយអំពីឯកសារ importance of diversification in a stock portfolio, we’re referring to an investor’s attempt to reduce exposure to unsystematic risk (i.e. company-specific risk) by investing in various companies across different sectors, industries, or even countries. A diversified stock portfolio contains a broad variety of stocks, but it is still focused on that single asset class.

When we discuss diversification among asset classes, the same concept applies, but over a broader range. By diversifying holdings across different asset classes, the investor reduces exposure to the ហានិភ័យជាប្រព័ន្ធ of any one asset class. Thus, if a market crash sends all of the prices of the stocks in the portfolio tumbling, other uncorrelated assets may not lose value at the same time, providing additional stability.

Like holding a single company in your stock portfolio, having your entire តម្លៃសុទ្ធ in a portfolio of any one asset (even if that portfolio is diversified) constitutes “putting all of your eggs in one basket.” You are still very much exposed to market risk. By investing in a broad number of assets, you reduce exposure to market risk or the systemic risk of any one asset class.

Although diversification is no guarantee against losses, investing professionals see this as a prudent long-range strategy.

របៀបធ្វើពិពិធកម្មផលប័ត្ររបស់អ្នក។

Fixed-Interest Investments

មូលបត្របំណុល are a popular way to diversify due to their low correlation with other major asset classes, particularly equities. Other fixed-interest investments such as T-bills, bankers’ acceptances, and certificates of deposit are also popular. Investors typically view these asset classes as less prone to risk compared with stocks. Conversely, they may also provide lower returns.

អចលន​ទ្រព្យ

ជម្រើសមួយទៀតគឺ អចលន​ទ្រព្យ, which has a relatively low correlation with stocks. Adding some real estate to your portfolio is a practical way to diversify, largely because many people (through homeownership) are invested in the real estate market.

It’s amazing how often investors overlook the potential of real estate. Investing in real estate doesn’t require the purchase of a house or building. ការវិនិយោគលើអចលនទ្រព្យ (REITs) provide an easy and less expensive alternative to buying property directly. REITs trade like stocks on the major exchanges. They invest directly in property and mortgages and typically offer high yields. Because real estate has a relatively low correlation with stocks, investing in REITs is a good way to diversify away from equities.

ទ្រព្យសម្បត្តិហៃវេសុវត្ថិភាព

ដែលគេហៅថា មានសុវត្ថិភាព assets are those specifically utilized to provide stability to a portfolio during times of market turmoil. While some of the assets listed above can be safe-havens, the iconic safe haven asset is gold. Gold (and other precious metals) are ហាងលក់នៃតម្លៃ that are not subject to issues related to interest rates. Although some investors may debate the value of gold as a safe-haven, historically it has tended to maintain its value over time. This means it can be a hedge against inflation and adverse market conditions.

រូបិយប័ណ្ណ

Currencies can be an important part of a diversification strategy. Cash is in some ways the ultimate safe haven asset. However, it is generally not advisable to hold cash over a long period, as it provides little by way of yield or return and is negatively impacted by inflation.

បន្ទាត់ខាងក្រោម

Diversification is a key building block to anyone’s financial plan, including understanding what diversification does and how it helps an individual’s overall financial position. It is crucial that investors know the difference between systematic and unsystematic risk, as well as understand that by diversifying among asset classes, they can mitigate exposure to systematic risk.