DataMuseum.dk

top - download

    Length: 4480 (0x1180)
    Types: TextFile
    Names: »FINSRV.MOD«

└─⟦6ae1c04a5⟧ Bits:30004364 SW1656 IFPS/Personal Version 2.10 release 1.1
    └─ ⟦this⟧ »FINSRV.MOD« 

TextFile

COLUMNS 1980..1984,ALPHA,ONE PCT,BETA,EST RET
ØØ
ØØ  This model calculates the anticipated returns on each issue
ØØ  within a stock portfolio.  The associated risk coefficients
ØØ  (Alphas and Betas) are calculated based on trends found in
ØØ  the market for a five year period.
ØØ
ØØ  The organization of the problem is designed to analyze each
ØØ  stock`s individual performance in the first five columns and
ØØ  then to weight this performance against the market in the
ØØ  latter columns.  The format followed is:
ØØ
ØØ    -----------       ---------------                 ---------------
ØØ    * Issue 1 *      *   Issue 2    *   ............  *  Issue n    *
ØØ    * Perform.*      *  Performance *                 * Performance *
ØØ    -----------      -----------------                ---------------
ØØ                Ø                                 /
ØØ                 Ø                               /
ØØ                    -------------------------
ØØ                    *   Portfolio Analysis  *
ØØ                    *       Model           *
ØØ                    -------------------------
ØØ
ØØ    FIRST: A SIMULATION OF THE PERFORMANCE OF EACH ISSUE
ØØ
ISSUE A RETURN=ISSUE A PCT PRICE CHANGE + ISSUE A DIVIDEND YIELD
ISSUE A PCT PRICE CHANGE = FUTURE ISSUE A PRICE /ISSUE A PRICE - 1
ISSUE A DIVIDEND YIELD=ISSUE A DIVIDEND / ISSUE A PRICE
ISSUE A TOTAL DIVIDENDS=ISSUE A DIVIDEND * ISSUE A NUMBER OF SHARES
ISSUE A ABSOLUTE DOLLAR GAIN=FUTURE ISSUE A MARKET VALUE - '
         ISSUE A MARKET VALUE + ISSUE A TOTAL DIVIDENDS
ISSUE A MARKET VALUE=ISSUE A PRICE * ISSUE A NUMBER OF SHARES
ØØ
ISSUE A PRICE=DATA
ISSUE A DIVIDEND=DATA
ISSUE A NUMBER OF SHARES=DATA
ØØ
ISSUE B RETURN=ISSUE B PCT PRICE CHANGE + ISSUE B DIVIDEND YIELD
ISSUE B PCT PRICE CHANGE = FUTURE ISSUE B PRICE /ISSUE B PRICE - 1
ISSUE B DIVIDEND YIELD=ISSUE B DIVIDEND / ISSUE B PRICE
ISSUE B TOTAL DIVIDENDS=ISSUE B DIVIDEND * ISSUE B NUMBER OF SHARES
ISSUE B ABSOLUTE DOLLAR GAIN=FUTURE ISSUE B MARKET VALUE - '
         ISSUE B MARKET VALUE + ISSUE B TOTAL DIVIDENDS
ISSUE B MARKET VALUE=ISSUE B PRICE * ISSUE B NUMBER OF SHARES
ØØ
ISSUE B PRICE=DATA
ISSUE B DIVIDEND=DATA
ISSUE B NUMBER OF SHARES=DATA
ØØ
ISSUE C RETURN=ISSUE C PCT PRICE CHANGE + ISSUE C DIVIDEND YIELD
ISSUE C PCT PRICE CHANGE = FUTURE ISSUE C PRICE /ISSUE C PRICE - 1
ISSUE C DIVIDEND YIELD=ISSUE C DIVIDEND / ISSUE C PRICE
ISSUE C TOTAL DIVIDENDS=ISSUE C DIVIDEND * ISSUE C NUMBER OF SHARES
ISSUE C ABSOLUTE DOLLAR GAIN=FUTURE ISSUE C MARKET VALUE - '
         ISSUE C MARKET VALUE + ISSUE C TOTAL DIVIDENDS
ISSUE C MARKET VALUE=ISSUE C PRICE * ISSUE C NUMBER OF SHARES
ØØ
ISSUE C PRICE=DATA
ISSUE C DIVIDEND=DATA
ISSUE C NUMBER OF SHARES=DATA FOR 2,PREVIOUS - 250
ØØ
ISSUE D RETURN=ISSUE D PCT PRICE CHANGE + ISSUE D DIVIDEND YIELD
ISSUE D PCT PRICE CHANGE = FUTURE ISSUE D PRICE /ISSUE D PRICE - 1
ISSUE D DIVIDEND YIELD=ISSUE D DIVIDEND / ISSUE D PRICE
ISSUE D TOTAL DIVIDENDS=ISSUE D DIVIDEND * ISSUE D NUMBER OF SHARES
ISSUE D ABSOLUTE DOLLAR GAIN=FUTURE ISSUE D MARKET VALUE - '
         ISSUE D MARKET VALUE + ISSUE D TOTAL DIVIDENDS
ISSUE D MARKET VALUE=ISSUE D PRICE * ISSUE D NUMBER OF SHARES
ØØ
ISSUE D PRICE=DATA
ISSUE D DIVIDEND=DATA
ISSUE D NUMBER OF SHARES=DATA
ØØ
ØØ
ØØ      PORTFOLIO ANALYSIS THEORY
ØØ
TOTAL ABSOLUTE DOLLAR GAIN=ISSUE A ABSOLUTE DOLLAR GAIN + '
     ISSUE B ABSOLUTE DOLLAR GAIN + ISSUE C ABSOLUTE DOLLAR GAIN + '
     ISSUE D ABSOLUTE DOLLAR GAIN
TOT DIV= ISSUE A TOTAL DIVIDENDS + '  
     ISSUE B TOTAL DIVIDENDS + ISSUE C TOTAL DIVIDENDS + '
     ISSUE D TOTAL DIVIDENDS FOR 5,0
TOTAL MARKET VALUE=ISSUE A MARKET VALUE + ISSUE B MARKET VALUE + '
     ISSUE C MARKET VALUE + ISSUE D MARKET VALUE
NET GAIN=TOTAL ABSOLUTE DOLLAR GAIN FOR 5,0
MARK VAL=TOTAL MARKET VALUE FOR 5,0
ØØ
MARKET=TOTAL ABSOLUTE DOLLAR GAIN / TOTAL MARKET VALUE FOR 5,0,.01
ISSUE A=ISSUE A RETURN FOR 5,TREND(MARKET)
ISSUE B=ISSUE B RETURN FOR 5,TREND(MARKET)
ISSUE C=ISSUE C RETURN FOR 5,TREND(MARKET)
ISSUE D=ISSUE D RETURN FOR 5,TREND(MARKET)
RSK FREE RATE = .05
ØØ
REDEFINE BETA FOR MARKET THRU ISSUE D = ÆONE PCTÅ - ÆALPHAÅ
REDEFINE EST RET FOR MARKET=.12
REDEFINE EST RET FOR RSK FREE RATE=.05
REDEFINE EST RET FOR ISSUE A THRU ISSUE D = RSK FREE RATE + '
    (MARKET - RSK FREE RATE) * ÆBETAÅ * 100
«eof»