Punto 1 (25%). Cuenta Margen

a. Compra Apalancada

Precio $ 3,000 Cantidad 1,000,000 Valor Portafolio $ 3,000,000,000

Acciones Valor Activo Pasivo 1,000,000 3,000 3,000,000,000 1,500,000,000 1,000,000 $ 4,000 $ 4,000,000,000 1,500,000,000 1,000,000 $ 2,143 $ 2,142,857,143 1,500,000,000

a) Precio llamada al margen = $ 2,143 b) Rentabilidad apalancada = 166.7%c) Rentabilidad no apalancada= 66.7%

b. Venta en Corto

Precio $ 3,000 Cantidad 1,000,000 Valor Portafolio $ 3,000,000,000

Acciones Valor Activo Pasivo 1,000,000 3,000 3,000,000,000 1,500,000,000 1,000,000 3,900 3,900,000,000 1,500,000,000 1,000,000 $ 4,000 $ 4,000,000,000 1,500,000,000 1,000,000 $ 2,500 $ 2,500,000,000 1,500,000,000

a) Precio llamada al margen = $ 3,900.00

-66.67%

33.33%

Usted compra $1,000,000 de acciones de Ecopetrol de forma apalancada. El margen Inicial es de 50%. El precio de compra fue $3000 por acción. Margen de matenimiento es 30%. a) A qué precio será llamado al margen? b) Si el precio sube a $4000, cuál es la rentabilidad? c) Cual sería la rentabilidad sin apalancamiento?

Ustedvende en corto $1,000,000 de acciones de Ecopetrol. El margen Inicial es de 50%. El precio de venta fue $3000 por acción. El margen de matenimiento es 30%. a) A qué precio sería llamado al margen? b) Si el precio sube a $4000, cuál es la rentabilidad? c) Si el precio cae a $2500, cuál sería la rentabilidad de la venta en corto?

b) Rentabilidad venta en corto precio sube a $4000 =c) Rentabilidad venta en corto precio cae a $2500 =

Patrimonio 1,500,000,000 2,500,000,000 642,857,143

Patrimonio 1,500,000,000 2,400,000,000 2,500,000,000 1,000,000,000

Usted compra $1,000,000 de acciones de Ecopetrol de forma apalancada. El margen Inicial es de 50%. El precio de compra fue $3000 por acción. Margen de matenimiento es 30%. a) A qué precio será llamado al margen? b) Si el precio sube a $4000, cuál es la rentabilidad? c)

Ustedvende en corto $1,000,000 de acciones de Ecopetrol. El margen Inicial es de 50%. El precio de venta fue $3000 por acción. El margen de matenimiento es 30%. a) A qué precio sería llamado al margen? b) Si el precio sube a $4000, cuál es la rentabilidad? c) Si el precio cae a

Punto 2 (25%). Valoración de Activos Riesgosos por Arbitraje

Considere la siguiente información Estado de la EconomíaDébil Fuerte

Activos Precio Hoy 40% 60%Bono Libre de Riesgo 100 103 103IGBC 50 40 70

Estado de la EconomíaDébil Fuerte

Activos Precio Hoy 40% 60%Bono Libre de RiesgoIGBC 50 40 70Accion A 20.8737864078 -10 -40

30 3029.126213592229.1262135922

c. Calcule la prima de riesgo de los tres: A, Bono e IGBC

Si el precio de la acción A en el mercado fuera $15.

a.Tasa libre de riesgo 3%Rendimiento esperado 16%

b.

a.     Calcule la tasa libre de riesgo y el rendimiento esperado del IGBC.

b.     Calcule el precio de no arbitraje de una Acción A, que paga $10 si la economía es débil y $40 si la economía es fuerte.

d.     Defina la estrategia de Arbitraje

e.     Calcule el beneficio de dicha estrategia

Calcule el precio de no arbitraje de una Acción A, que paga $10 si la economía es débil y $40 si la economía es fuerte.

Punto 3 (25%). Riesgo - Rendimiento

1) En las columnas E-G calcule el rendmiento logarítmico diario de las tres acciones

ECOPETL CB Equity BCOLO CB Equity EXITO CB Equity1895 11500 78201865 11080 7750 -1.6%1930 11460 7880 3.4%1960 11520 7820 1.5%2005 11680 7900 2.3%2060 11720 8120 2.7%2010 11900 8200 -2.5%1965 11620 8300 -2.3%1970 11960 8370 0.3%2005 12160 8510 1.8%1995 12580 8680 -0.5%1960 12480 8600 -1.8%1995 13120 8830 1.8%2030 13600 9580 1.7%2085 13500 9700 2.7%2070 13400 9700 -0.7%2115 13280 9880 2.2%2120 13220 10180 0.2%2075 13440 10400 -2.1%2010 13180 10280 -3.2%2015 13080 10300 0.2%2040 13100 10280 1.2%2015 13100 10200 -1.2%1995 13080 9900 -1.0%2005 13160 10020 0.5%2000 13020 10100 -0.2%2005 13200 10160 0.2%2015 13140 10300 0.5%2040 13180 10300 1.2%2090 13400 10480 2.4%2045 13220 10440 -2.2%2035 13200 10460 -0.5%2055 13300 10400 1.0%2045 13260 10380 -0.5%2015 12800 10160 -1.5%1995 12620 9990 -1.0%1990 12820 9900 -0.3%2010 13000 9900 1.0%2005 12600 9800 -0.2%1995 12500 9900 -0.5%1990 12440 9840 -0.3%2000 12480 9860 0.5%2015 12500 9900 0.7%2015 12580 9980 0.0%

2015 12800 10000 0.0%2020 12860 9950 0.2%2040 12980 9900 1.0%2020 12700 9940 -1.0%2040 12820 9900 1.0%2060 12900 10100 1.0%2110 12640 9900 2.4%2150 12780 9880 1.9%2150 12800 9880 0.0%2140 12620 9880 -0.5%2135 12660 9800 -0.2%2130 12340 9700 -0.2%2150 12400 9700 0.9%2135 12300 9650 -0.7%2105 12000 9400 -1.4%2070 11760 9400 -1.7%2065 11800 9400 -0.2%2045 11420 9300 -1.0%2035 11320 9250 -0.5%2015 11060 9200 -1.0%2055 11120 9000 2.0%2095 11280 9360 1.9%2105 11600 9500 0.5%2050 11100 9700 -2.6%2060 11020 9700 0.5%2095 11320 9900 1.7%2055 11260 9700 -1.9%2075 11360 9510 1.0%2060 11320 9550 -0.7%2080 11560 9850 1.0%2065 11560 9700 -0.7%2075 11780 9850 0.5%2090 12000 9820 0.7%2105 12300 10000 0.7%2095 12060 10020 -0.5%2095 12260 10100 0.0%2120 12300 10180 1.2%2125 12340 10300 0.2%2140 12400 10440 0.7%2140 12180 10500 0.0%2120 12220 10700 -0.9%2140 12200 10580 0.9%2130 12040 10500 -0.5%2140 12220 10880 0.5%2145 12260 10920 0.2%2175 12700 11200 1.4%2165 12900 11100 -0.5%2175 12860 11080 0.5%2185 12800 11040 0.5%2185 12700 10980 0.0%2120 12800 11020 -3.0%

2140 12620 10920 0.9%2135 12700 10860 -0.2%2135 12680 10900 0.0%2120 12600 10860 -0.7%2095 12480 10720 -1.2%2090 12520 10900 -0.2%2090 12580 10700 0.0%2085 12560 10700 -0.2%2130 12820 10800 2.1%2125 12920 10720 -0.2%2125 12900 10720 0.0%2145 13300 10920 0.9%2120 13380 11200 -1.2%2150 13800 11220 1.4%2135 13900 11220 -0.7%2165 14000 11200 1.4%2210 14600 11300 2.1%2330 15340 11700 5.3%2275 15320 11480 -2.4%2305 15200 11600 1.3%2285 14740 11880 -0.9%2290 14960 12340 0.2%2275 15000 12100 -0.7%2285 15600 12340 0.4%2355 15760 12340 3.0%2370 15660 12420 0.6%2340 15380 12160 -1.3%2325 15480 12100 -0.6%2350 15780 12200 1.1%2345 15680 12140 -0.2%2365 15560 12400 0.8%2385 15500 12500 0.8%2420 15800 13000 1.5%2405 15800 12760 -0.6%2380 15700 12820 -1.0%2415 15900 13000 1.5%2420 15900 12880 0.2%2415 15960 12820 -0.2%2425 15940 12840 0.4%2430 16020 12700 0.2%2485 16100 12940 2.2%2505 16000 13140 0.8%2475 15900 12920 -1.2%2480 16080 12920 0.2%2535 15980 13100 2.2%2520 16300 13300 -0.6%2525 16260 13300 0.2%2520 16120 13480 -0.2%2550 16300 13640 1.2%2545 16180 14140 -0.2%2580 16400 14100 1.4%

2615 16500 14680 1.3%2610 16460 14580 -0.2%2590 16480 14700 -0.8%2585 16300 14600 -0.2%2585 16200 15000 0.0%2540 15980 14640 -1.8%2505 15400 14520 -1.4%2510 15400 14260 0.2%2510 15140 14380 0.0%2540 15260 14500 1.2%2575 15200 14760 1.4%2600 15180 14880 1.0%2635 15260 15060 1.3%2660 15520 15140 0.9%2660 15600 15400 0.0%2790 15800 15800 4.8%2775 15880 15860 -0.5%2745 16000 15780 -1.1%2695 15980 15780 -1.8%2705 15940 15400 0.4%2765 16300 15900 2.2%2775 16400 16040 0.4%2785 16600 16120 0.4%2790 16860 16000 0.2%2770 16720 16000 -0.7%2785 17000 16300 0.5%2815 17140 16300 1.1%2795 16880 16240 -0.7%2745 17100 16300 -1.8%2770 17340 16360 0.9%2750 17580 16380 -0.7%2725 17340 16500 -0.9%2730 17380 16500 0.2%2730 17640 16800 0.0%2735 17900 16900 0.2%2745 18400 16920 0.4%2730 18420 16700 -0.5%2700 18460 16640 -1.1%2705 18180 16580 0.2%2700 18140 16440 -0.2%2680 18220 16440 -0.7%2620 17700 16120 -2.3%2635 17540 16480 0.6%2620 17340 16160 -0.6%2645 17600 16100 0.9%2650 17820 16100 0.2%2710 18100 16240 2.2%2680 18120 16220 -1.1%2635 18040 16260 -1.7%2615 18220 16500 -0.8%2605 18200 16460 -0.4%

2690 18480 16300 3.2%2700 18700 16300 0.4%2670 18760 16060 -1.1%2695 19460 16000 0.9%2665 19100 15900 -1.1%2710 19120 15860 1.7%2695 19280 15920 -0.6%2670 19340 15940 -0.9%2695 19200 15700 0.9%2715 20040 15880 0.7%2680 20260 15860 -1.3%2705 20400 15700 0.9%2695 20300 15780 -0.4%2700 20140 15520 0.2%2695 20360 15800 -0.2%2715 20720 16000 0.7%2700 20600 16120 -0.6%2695 20540 16140 -0.2%2690 20160 16160 -0.2%2660 19720 15780 -1.1%2685 19700 15960 0.9%2645 19500 16000 -1.5%2680 19400 16080 1.3%2700 20000 16400 0.7%2670 20100 16200 -1.1%2670 20020 16420 0.0%2635 20200 16400 -1.3%2635 20220 16400 0.0%2600 20200 16600 -1.3%2580 20000 16000 -0.8%2580 19880 15400 0.0%2580 20200 15400 0.0%2550 19500 15540 -1.2%2485 19300 15540 -2.6%2560 19740 15100 3.0%2630 20200 15200 2.7%2615 20200 15100 -0.6%2650 20500 15180 1.3%2645 20600 15100 -0.2%2650 20440 15340 0.2%2640 20580 16300 -0.4%2645 20560 16300 0.2%2630 20720 16400 -0.6%2600 20540 16000 -1.1%2580 20800 16400 -0.8%2580 20920 16400 0.0%2595 21100 16680 0.6%2575 21160 17000 -0.8%2620 21500 17400 1.7%2600 21000 17220 -0.8%2605 21480 17300 0.2%

2505 21600 18680 -3.9%2545 22000 18400 1.6%2560 22280 18600 0.6%2590 22900 19100 1.2%2600 22800 19400 0.4%2570 22740 19900 -1.2%2570 22540 19860 0.0%2545 22660 19860 -1.0%2505 22900 19900 -1.6%2500 22800 19840 -0.2%2510 22940 19680 0.4%2500 23300 19500 -0.4%2465 23720 19500 -1.4%2440 23500 19860 -1.0%2455 23380 19820 0.6%2445 23280 19840 -0.4%2425 22920 19860 -0.8%2480 23180 19500 2.2%2475 23000 18720 -0.2%2480 22800 19000 0.2%2485 23140 19500 0.2%2495 22820 19800 0.4%2465 23200 19700 -1.2%2460 22640 19700 -0.2%2440 22440 19980 -0.8%2470 22400 19980 1.2%2445 22220 19700 -1.0%2435 22300 19700 -0.4%2450 22220 19500 0.6%2470 22060 19000 0.8%2465 22140 19000 -0.2%2460 22420 19000 -0.2%2455 22500 19100 -0.2%2390 22220 19000 -2.7%2400 22400 19200 0.4%2370 22080 19000 -1.3%2425 22000 19000 2.3%2445 21600 18700 0.8%2450 21640 18700 0.2%2455 22200 18500 0.2%2435 21840 18500 -0.8%2445 21980 18580 0.4%2455 21880 18500 0.4%2425 21880 18500 -1.2%2415 21200 18500 -0.4%2405 20800 18500 -0.4%2455 20900 18400 2.1%2465 21300 18480 0.4%2475 21300 18320 0.4%2480 21120 18500 0.2%2480 21200 18500 0.0%

2470 21420 18460 -0.4%2485 21560 18460 0.6%2470 21400 18420 -0.6%2495 21900 18300 1.0%2500 22080 18280 0.2%2540 21820 18260 1.6%2600 22320 18300 2.3%2570 21920 17300 -1.2%2560 22300 17800 -0.4%2560 22460 17600 0.0%2565 22120 17500 0.2%2605 22360 17500 1.5%2605 22340 17500 0.0%2625 22020 17500 0.8%2640 22220 17520 0.6%2635 21980 17500 -0.2%2655 21680 17280 0.8%2695 21700 17100 1.5%2680 21900 17000 -0.6%2675 21800 16900 -0.2%2685 21820 17160 0.4%2710 22200 17400 0.9%2710 22280 17400 0.0%2700 21780 17380 -0.4%2700 22120 17380 0.0%2685 22120 17340 -0.6%2690 21920 17300 0.2%2675 21980 17300 -0.6%2680 22020 17260 0.2%2685 22200 17220 0.2%2700 22280 17380 0.6%2710 22400 17440 0.4%2730 22360 17640 0.7%2740 22780 17680 0.4%2725 23260 17680 -0.5%2725 23100 17540 0.0%2720 23060 17500 -0.2%2710 23340 17580 -0.4%2715 23800 17660 0.2%2730 23820 17800 0.6%2690 23320 17520 -1.5%2680 23100 17540 -0.4%2715 23300 17700 1.3%2755 23100 17700 1.5%2750 23200 17880 -0.2%2780 23300 17860 1.1%2785 23020 17880 0.2%2760 22800 17660 -0.9%2730 22680 17660 -1.1%2765 23080 17700 1.3%2765 23020 17680 0.0%

2790 23380 17720 0.9%2775 23100 17660 -0.5%2725 22800 17340 -1.8%2660 22300 16600 -2.4%2670 23280 17240 0.4%2720 22600 17440 1.9%2745 22700 17400 0.9%2775 23000 17540 1.1%2765 23000 17740 -0.4%2740 22740 17640 -0.9%2710 22740 17640 -1.1%2700 22300 17100 -0.4%2660 22440 17200 -1.5%2630 22320 17380 -1.1%2660 22380 17380 1.1%2630 21940 16900 -1.1%2690 22700 18200 2.3%2695 22800 17600 0.2%2710 23500 17980 0.6%2700 23500 17900 -0.4%2730 23500 17620 1.1%2730 23700 17740 0.0%2720 23680 17720 -0.4%2690 23400 17680 -1.1%2685 23220 17500 -0.2%2700 23620 17700 0.6%2710 23440 17800 0.4%2710 23420 17780 0.0%2720 23440 17700 0.4%2750 23500 17720 1.1%2750 23480 17700 0.0%2765 23740 17840 0.5%2750 23600 17880 -0.5%2740 23900 17740 -0.4%2760 23880 17900 0.7%2770 23880 17840 0.4%2775 23880 17880 0.2%2750 23900 17780 -0.9%2740 23600 17800 -0.4%2755 23760 18000 0.5%2735 23620 17860 -0.7%2725 23600 17900 -0.4%2755 23980 17900 1.1%2765 24200 17880 0.4%2795 24260 17900 1.1%2825 24500 17840 1.1%2850 25020 17960 0.9%2860 25200 17880 0.4%2930 25200 18140 2.4%2980 25500 18420 1.7%2990 25220 18540 0.3%

3005 25200 18700 0.5%3100 26040 18880 3.1%3135 26200 18600 1.1%3085 27000 18940 -1.6%3165 27500 19380 2.6%3130 27980 20520 -1.1%3135 27500 20100 0.2%3095 26500 19980 -1.3%3105 26300 20080 0.3%3145 26200 20240 1.3%3245 26160 20300 3.1%3310 26480 20300 2.0%3450 26000 20260 4.1%3365 25640 20000 -2.5%3350 25400 20360 -0.4%3305 25540 20280 -1.4%3250 25200 20300 -1.7%3280 25100 20280 0.9%3320 25700 20300 1.2%3340 25240 20480 0.6%3310 25900 20600 -0.9%3310 25980 21400 0.0%3300 26000 21500 -0.3%3350 26340 22700 1.5%3360 26680 22480 0.3%3350 26780 22180 -0.3%3390 26880 22160 1.2%3435 27380 22200 1.3%3450 27360 22180 0.4%3485 28420 22500 1.0%3580 29200 22780 2.7%3500 28500 22500 -2.3%3500 28700 23400 0.0%3600 28980 23400 2.8%3620 28600 23100 0.6%3735 28200 23500 3.1%3770 28100 23380 0.9%3690 27380 22960 -2.1%3645 28000 23000 -1.2%3615 28360 22820 -0.8%3560 28100 22500 -1.5%3550 28600 22000 -0.3%3530 28200 21540 -0.6%3610 28360 21420 2.2%3645 28200 21920 1.0%3585 28000 22000 -1.7%3560 27900 22000 -0.7%3585 27960 21940 0.7%3595 27920 22080 0.3%3635 28900 22400 1.1%3730 29200 22400 2.6%

3700 29380 22380 -0.8%3725 29160 22060 0.7%3730 29000 21780 0.1%3880 29300 22160 3.9%4080 29280 22660 5.0%3990 28860 22520 -2.2%4055 29200 22880 1.6%4105 29100 23020 1.2%4095 29080 22960 -0.2%4165 29480 23180 1.7%4150 28980 23080 -0.4%4140 28800 23180 -0.2%4270 29020 23160 3.1%4245 29160 23200 -0.6%4270 29340 23160 0.6%4340 29500 23180 1.6%4335 29500 23200 -0.1%4360 28700 22960 0.6%4360 28800 22940 0.0%4360 29160 23080 0.0%4410 29600 24000 1.1%4425 30200 24340 0.3%4455 30500 24700 0.7%4545 30780 24780 2.0%4630 30660 24700 1.9%4650 30240 24620 0.4%4660 30240 24400 0.2%4520 29980 24700 -3.1%4345 29200 24060 -3.9%4145 29240 23800 -4.7%4020 28000 23300 -3.1%4200 28980 23700 4.4%4260 28800 23500 1.4%4090 28200 23000 -4.1%4100 28200 23520 0.2%4035 27720 22900 -1.6%4115 28480 22860 2.0%4020 28300 22960 -2.3%3935 28300 23000 -2.1%3795 28080 23300 -3.6%3840 28340 23800 1.2%3855 29080 23460 0.4%3990 29420 23600 3.4%4020 29600 23700 0.7%4045 29800 23800 0.6%4085 29700 23800 1.0%4080 30000 23820 -0.1%4070 29800 23720 -0.2%4125 30100 23860 1.3%4190 30200 23800 1.6%4100 29500 23720 -2.2%

4095 29580 23680 -0.1%4020 29560 23800 -1.8%4010 29100 23780 -0.2%4050 28940 23680 1.0%4095 29200 23780 1.1%4100 29280 23960 0.1%4105 29300 23780 0.1%4170 29800 23800 1.6%4115 29420 23800 -1.3%4115 29500 23420 0.0%4100 29500 23360 -0.4%4000 29500 22900 -2.5%4000 29160 23300 0.0%3885 28980 23300 -2.9%3805 28500 23000 -2.1%3890 29000 23800 2.2%3840 27280 23320 -1.3%3945 27740 23500 2.7%4040 28200 23760 2.4%4015 28020 23780 -0.6%4050 28060 23780 0.9%4040 27400 23840 -0.2%4005 26900 23520 -0.9%3920 26560 22800 -2.1%3925 26860 23300 0.1%3940 27200 23480 0.4%3860 27700 23400 -2.1%3940 27840 23160 2.1%3930 27720 23500 -0.3%3965 27020 23300 0.9%3970 27020 23000 0.1%3970 27100 23200 0.0%3960 27100 23200 -0.3%3925 27020 23300 -0.9%3915 26700 23300 -0.3%3930 26300 23400 0.4%3990 27000 23400 1.5%3970 26440 23500 -0.5%3910 26140 23480 -1.5%3900 26480 23500 -0.3%3900 26160 23660 0.0%3900 25900 23580 0.0%3920 25900 23800 0.5%3840 25800 23500 -2.1%3750 25660 23220 -2.4%3800 25600 23380 1.3%3760 25560 23500 -1.1%3900 25700 23760 3.7%3935 25700 24340 0.9%3955 26000 24700 0.5%3965 26900 25500 0.3%

3985 27580 25200 0.5%3955 27540 25180 -0.8%4000 27620 25180 1.1%4060 27520 25200 1.5%4055 27680 25380 -0.1%3975 27500 25400 -2.0%3995 28040 25420 0.5%3900 27660 25480 -2.4%3895 27500 25580 -0.1%3890 27780 25580 -0.1%3815 27260 24880 -1.9%3830 27800 26300 0.4%3830 28500 26300 0.0%3825 29200 26520 -0.1%3815 29000 26900 -0.3%3905 28880 27020 2.3%3850 29080 27900 -1.4%3810 28780 27860 -1.0%3915 28620 27520 2.7%3875 28500 27400 -1.0%3880 29000 27180 0.1%3885 29200 27300 0.1%3865 29300 27240 -0.5%3880 28800 27240 0.4%3895 29200 27500 0.4%3865 29220 27400 -0.8%3810 29400 27700 -1.4%3765 29300 27700 -1.2%3700 29160 28240 -1.7%3625 28100 28460 -2.0%3690 28340 27860 1.8%3665 27980 27840 -0.7%3670 28000 27840 0.1%3605 28000 27840 -1.8%3670 27700 27800 1.8%3730 27800 27800 1.6%3790 27980 27200 1.6%3800 28180 27360 0.3%3800 28500 27300 0.0%3850 28400 27380 1.3%3800 28800 27200 -1.3%3840 28500 27180 1.0%3795 28080 27040 -1.2%3800 28000 26980 0.1%3720 27240 26380 -2.1%3760 27300 26160 1.1%3775 27720 26380 0.4%3900 28520 26520 3.3%3885 28980 26920 -0.4%3910 28800 26540 0.6%3870 28500 26900 -1.0%

3825 28800 26700 -1.2%3860 29300 26600 0.9%3860 29400 26200 0.0%3965 28700 26000 2.7%3940 29180 26000 -0.6%3930 29020 26000 -0.3%3950 29140 26000 0.5%3940 29100 26000 -0.3%3960 29400 26400 0.5%3950 29120 26360 -0.3%3970 29300 26200 0.5%4045 29100 26300 1.9%3995 29480 26640 -1.2%4005 29600 26720 0.3%4015 29260 26700 0.2%4035 29580 26700 0.5%4040 29580 26600 0.1%4005 29360 26600 -0.9%4000 29200 26380 -0.1%4000 29480 26320 0.0%3950 29500 26280 -1.3%3835 29400 26300 -3.0%3820 29100 26240 -0.4%3815 29800 26000 -0.1%3780 29200 26080 -0.9%3785 29240 26000 0.1%3805 29400 26100 0.5%3775 29700 26000 -0.8%3810 29240 26100 0.9%3800 29400 26080 -0.3%3855 29300 26000 1.4%3840 29200 24500 -0.4%3875 29300 23980 0.9%3855 29200 23980 -0.5%3760 29100 23720 -2.5%3740 28800 23540 -0.5%3700 28760 23000 -1.1%3605 28420 22300 -2.6%3590 27640 22020 -0.4%3650 29160 22000 1.7%3580 28100 21420 -1.9%3575 28100 21100 -0.1%3630 28100 21360 1.5%3710 28600 22200 2.2%3705 28700 23080 -0.1%3705 28780 23000 0.0%3770 28980 22940 1.7%3735 28900 23400 -0.9%3735 28320 22700 0.0%3780 28800 23600 1.2%3735 29000 23800 -1.2%

3750 28940 24060 0.4%3720 28780 24100 -0.8%3725 28500 24100 0.1%3680 27240 24100 -1.2%3660 26500 24000 -0.5%3595 25480 23880 -1.8%3700 26500 23980 2.9%3670 26860 24000 -0.8%3680 27000 24000 0.3%3710 27000 23100 0.8%3695 27620 23920 -0.4%3705 28100 23840 0.3%3595 27620 23900 -3.0%3610 26700 23700 0.4%3645 26900 23700 1.0%3685 27340 24100 1.1%3640 27360 24400 -1.2%3625 27400 24160 -0.4%3680 27280 24240 1.5%3825 27880 24240 3.9%3870 28340 23820 1.2%3855 28800 23460 -0.4%3900 28420 23040 1.2%3885 28500 23000 -0.4%3790 28000 22480 -2.5%3880 28480 23000 2.3%3880 28620 23300 0.0%3860 28700 23460 -0.5%3835 28560 23000 -0.6%3865 28300 23000 0.8%3875 28300 22860 0.3%3900 28600 22880 0.6%4010 28680 23220 2.8%4120 29200 23840 2.7%4130 29160 23980 0.2%4135 28680 23900 0.1%4045 28500 24000 -2.2%3865 27520 23520 -4.6%3825 27000 23500 -1.0%3900 26600 23000 1.9%3865 27100 22800 -0.9%3870 26640 22900 0.1%3965 26900 22840 2.4%3860 28300 22960 -2.7%3755 26180 23120 -2.8%3885 27380 22800 3.4%3930 27060 22800 1.2%3920 27200 22900 -0.3%3885 27880 23080 -0.9%3925 27680 23140 1.0%3900 27680 23000 -0.6%

3905 27440 22960 0.1%3900 27900 22940 -0.1%3940 27600 22860 1.0%3970 28200 22800 0.8%3940 28280 22840 -0.8%3960 27760 23060 0.5%3995 28040 23620 0.9%4010 28240 24300 0.4%3990 28460 24120 -0.5%3995 28160 23940 0.1%4065 29000 23860 1.7%4055 29180 23700 -0.2%4000 29000 24000 -1.4%3975 28600 23800 -0.6%4020 28500 23840 1.1%4045 28600 24160 0.6%4025 28600 24300 -0.5%4080 28720 24280 1.4%4035 28860 24220 -1.1%4030 27900 24260 -0.1%4020 28700 24240 -0.2%4035 28400 24300 0.4%3995 28100 25000 -1.0%3990 27900 24900 -0.1%3975 27480 24640 -0.4%3955 27420 24600 -0.5%3930 26720 24300 -0.6%3860 25900 23940 -1.8%3910 25680 23580 1.3%4015 26980 23920 2.6%4045 27200 23520 0.7%4100 27600 23540 1.4%4130 28000 24000 0.7%4195 27960 24500 1.6%4150 27420 24300 -1.1%4085 27140 24040 -1.6%4175 27980 24680 2.2%4170 27520 24480 -0.1%4160 28600 24500 -0.2%4175 28700 24400 0.4%4105 28480 24300 -1.7%4150 28000 24300 1.1%4175 28880 24420 0.6%4145 28600 24360 -0.7%4220 28800 24500 1.8%4255 28900 24880 0.8%4300 28960 25540 1.1%4285 28920 25500 -0.3%4225 29000 25520 -1.4%4265 28560 25360 0.9%4290 28380 25500 0.6%

4215 28480 25460 -1.8%4200 28460 25980 -0.4%4285 28440 26000 2.0%4330 28400 26280 1.0%4320 28380 26400 -0.2%4325 26980 26400 0.1%4485 26960 26560 3.6%4510 26740 26200 0.6%4320 26440 25980 -4.3%4480 26460 25620 3.6%4415 26000 25140 -1.5%4500 26000 25400 1.9%4605 26000 25560 2.3%4550 26000 25460 -1.2%4570 26100 24960 0.4%4595 26020 25000 0.5%4570 26160 24680 -0.5%4560 26100 24600 -0.2%4540 26100 24820 -0.4%4520 25900 24560 -0.4%4585 27200 24440 1.4%4600 27980 24600 0.3%4625 27000 25300 0.5%4700 26960 25500 1.6%4650 27220 25020 -1.1%4640 27220 25140 -0.2%4680 27320 25120 0.9%4685 27500 25200 0.1%4740 27500 25060 1.2%4730 27600 24920 -0.2%4755 27600 25020 0.5%4785 27700 25060 0.6%4810 27520 25020 0.5%4970 27680 25040 3.3%5060 27960 25000 1.8%4995 27800 25400 -1.3%4915 28100 25320 -1.6%4950 28120 24960 0.7%4955 28160 25000 0.1%4985 28000 25000 0.6%4990 27600 24740 0.1%4995 27540 24600 0.1%5210 27900 25180 4.2%5280 27940 25000 1.3%5220 27980 24980 -1.1%5230 27880 24900 0.2%5180 27040 24780 -1.0%5180 27600 24600 0.0%5180 27900 24860 0.0%5150 27840 24840 -0.6%5120 27700 24900 -0.6%

5300 28000 25000 3.5%5300 28180 24940 0.0%5280 28100 24660 -0.4%5210 27100 24000 -1.3%5220 27840 24340 0.2%5270 27660 24380 1.0%5250 27820 24480 -0.4%5360 27880 24500 2.1%5450 27980 24900 1.7%5400 27980 25080 -0.9%5380 28100 25200 -0.4%5480 28260 25440 1.8%5430 28100 25960 -0.9%5530 27900 26000 1.8%5600 28100 26300 1.3%5610 28080 27000 0.2%5680 28100 27480 1.2%5670 27980 28100 -0.2%5600 28180 27700 -1.2%5550 28280 27360 -0.9%5580 28200 27100 0.5%5640 28340 27500 1.1%5680 28400 27300 0.7%5590 28400 27980 -1.6%5360 28400 27900 -4.2%5260 28500 28200 -1.9%5300 28460 27840 0.8%5280 27820 28500 -0.4%5420 28400 28280 2.6%5510 28500 27900 1.6%5580 28500 28280 1.3%5700 28900 28600 2.1%5850 29180 28980 2.6%5850 29200 29340 0.0%5600 29240 30500 -4.4%5650 29280 30680 0.9%5650 29340 30020 0.0%5620 29320 29860 -0.5%5610 28820 29440 -0.2%5560 28200 30280 -0.9%5470 27920 29700 -1.6%5460 27800 29300 -0.2%5440 27540 29100 -0.4%5300 27580 28700 -2.6%5330 27220 28700 0.6%5410 27540 29360 1.5%5400 27320 29300 -0.2%5260 27520 29100 -2.6%5300 27160 28320 0.8%5220 27080 27620 -1.5%5430 26920 27340 3.9%

5340 26780 27480 -1.7%5450 27200 29480 2.0%5340 26760 28500 -2.0%5330 25920 27920 -0.2%5250 26040 28400 -1.5%5260 26600 28620 0.2%5280 27000 28200 0.4%5230 26020 28300 -1.0%5150 26440 29000 -1.5%5160 26900 28500 0.2%5220 26400 28700 1.2%5290 26520 28400 1.3%5420 27120 28980 2.4%5460 27200 28880 0.7%5230 26360 28300 -4.3%5080 26700 28700 -2.9%4850 26100 28500 -4.6%4905 26200 28180 1.1%4970 26840 28480 1.3%4900 26800 28900 -1.4%4985 26980 29540 1.7%5030 27680 30700 0.9%5030 27680 31100 0.0%5020 27680 30960 -0.2%5000 27800 30980 -0.4%4990 27420 29980 -0.2%4970 27360 30000 -0.4%5010 27740 30400 0.8%4930 27180 29820 -1.6%4970 27680 30100 0.8%4970 27100 30400 0.0%4990 27280 30200 0.4%5010 27500 30400 0.4%4985 27620 30800 -0.5%4950 26920 30960 -0.7%4995 27000 30700 0.9%4870 26800 30920 -2.5%4940 26660 30520 1.4%5140 27500 31380 4.0%5170 27460 31100 0.6%5150 27180 30700 -0.4%5160 27180 30900 0.2%5230 26180 30600 1.3%5290 24960 30480 1.1%5240 24980 30280 -0.9%5160 24400 29080 -1.5%5280 25260 29700 2.3%5310 25460 30100 0.6%5280 25380 30100 -0.6%5290 25480 30900 0.2%5370 26000 30400 1.5%

5400 25880 30480 0.6%5430 25500 30480 0.6%5380 25260 30480 -0.9%5380 25680 30300 0.0%5350 25900 30380 -0.6%5330 25920 30100 -0.4%5320 25760 29980 -0.2%5370 25980 29860 0.9%5280 25800 29980 -1.7%5280 25400 29820 0.0%5270 25800 29800 -0.2%5240 25700 29640 -0.6%5170 25540 29640 -1.3%5170 25500 29880 0.0%5280 25760 29980 2.1%5280 25820 29980 0.0%5260 25920 29760 -0.4%5240 26040 29700 -0.4%5180 26200 30200 -1.2%5260 26520 30140 1.5%5300 26900 30080 0.8%5250 26820 29980 -0.9%5220 26600 29980 -0.6%5280 26660 30020 1.1%5290 26800 30000 0.2%5300 26560 29960 0.2%5240 26600 29960 -1.1%5230 26480 29800 -0.2%5220 26020 29520 -0.2%5280 26720 30100 1.1%5300 26400 29500 0.4%5270 26300 29400 -0.6%5340 26740 30080 1.3%5330 26360 30060 -0.2%5360 26500 30020 0.6%5340 26600 30000 -0.4%5350 26660 29800 0.2%5400 26400 29340 0.9%5410 26460 29720 0.2%5430 26720 29960 0.4%5460 26820 30000 0.6%5620 26740 30020 2.9%5670 27200 31220 0.9%5720 27780 31900 0.9%5710 27500 32520 -0.2%5700 27780 33500 -0.2%5690 27600 33520 -0.2%5710 27540 33800 0.4%5730 28360 34660 0.3%5790 28260 34700 1.0%5760 28320 34440 -0.5%

5500 28200 34200 -4.6%5450 28660 34920 -0.9%5330 28100 34800 -2.2%5290 28000 34600 -0.8%5220 27620 33860 -1.3%5150 27540 33000 -1.4%5280 27600 33380 2.5%5190 28300 33980 -1.7%5160 27720 33800 -0.6%5140 27800 33700 -0.4%5230 27960 34980 1.7%5280 27740 35300 1.0%5330 27940 35680 0.9%5350 27840 35700 0.4%5350 27660 36280 0.0%5330 28000 37040 -0.4%5360 27980 35560 0.6%5300 28180 35600 -1.1%5300 28000 34180 0.0%5300 28240 34400 0.0%5310 28280 35000 0.2%5290 27720 36000 -0.4%5260 28360 36000 -0.6%5210 29000 36260 -1.0%5200 29200 36640 -0.2%5200 29000 36320 0.0%5230 29160 36000 0.6%5260 29160 36140 0.6%5290 29160 36900 0.6%5320 29200 36980 0.6%5300 29200 36080 -0.4%5340 29480 35080 0.8%5300 29320 35140 -0.8%5320 29040 35540 0.4%5350 29500 35600 0.6%5350 29480 35780 0.0%5400 29300 35500 0.9%5430 29300 35660 0.6%5450 29380 35660 0.4%5500 29500 35600 0.9%5460 30000 35500 -0.7%5450 29400 35500 -0.2%5490 29680 35500 0.7%5520 29960 36460 0.5%5430 29800 36380 -1.6%5450 30000 36400 0.4%5460 30000 36000 0.2%5450 30060 36200 -0.2%5460 30200 35600 0.2%5440 30300 35900 -0.4%5450 30480 35700 0.2%

5440 30500 35340 -0.2%5490 30500 35100 0.9%5500 30500 35000 0.2%5480 30500 34680 -0.4%5560 30680 34680 1.4%5590 30660 34880 0.5%5600 30660 34520 0.2%5600 30600 33800 0.0%5640 30560 34020 0.7%5620 30500 34460 -0.4%5650 30480 33200 0.5%5650 30680 33980 0.0%5700 30300 33700 0.9%5710 30700 33900 0.2%5600 30580 34300 -1.9%5510 30480 34860 -1.6%5500 30220 35020 -0.2%5440 29300 35440 -1.1%5420 29380 35100 -0.4%5430 29720 34980 0.2%5450 29960 34760 0.4%5410 29960 34260 -0.7%5410 29280 34500 0.0%5220 29300 34840 -3.6%5190 29400 34940 -0.6%5230 29000 35220 0.8%5240 29300 35500 0.2%5270 29100 35420 0.6%5220 28920 35300 -1.0%5230 29000 35300 0.2%5210 28800 35000 -0.4%5200 28700 35180 -0.2%5150 28020 35180 -1.0%5120 27800 34420 -0.6%5090 28260 34940 -0.6%5060 28480 34760 -0.6%5140 28320 34380 1.6%5140 28500 34120 0.0%5110 28600 34500 -0.6%5100 28460 34340 -0.2%5100 28200 34040 0.0%5100 28500 34500 0.0%4960 28580 34200 -2.8%4895 28140 32920 -1.3%4900 28300 32600 0.1%4955 27840 32960 1.1%5030 28000 32800 1.5%5070 28580 32920 0.8%5050 28800 33000 -0.4%4980 28400 33200 -1.4%4975 28280 33300 -0.1%

4900 28200 32900 -1.5%4935 28340 33300 0.7%5020 28060 33400 1.7%4935 28080 33100 -1.7%4620 28600 33000 -6.6%4525 28600 33000 -2.1%4550 29200 32980 0.6%4450 29380 32220 -2.2%4225 28160 31240 -5.2%4395 28620 32260 3.9%4330 29000 31700 -1.5%4310 29340 31600 -0.5%4345 29560 31240 0.8%4360 29680 31500 0.3%4375 29600 31700 0.3%4410 29640 32020 0.8%4405 29880 31700 -0.1%4335 29800 30660 -1.6%4340 29900 30500 0.1%4390 30000 29920 1.1%4290 30000 30300 -2.3%4320 29940 30580 0.7%4180 29960 30500 -3.3%4200 30000 30180 0.5%4200 29580 29500 0.0%4180 28720 28500 -0.5%4135 28320 28200 -1.1%4125 28500 28800 -0.2%4140 28400 30000 0.4%4125 27900 30780 -0.4%4075 28300 31260 -1.2%3995 28200 31920 -2.0%4000 28220 32620 0.1%4015 28340 33100 0.4%4135 27920 32840 2.9%4155 28160 33000 0.5%4170 28480 32720 0.4%4190 28200 33000 0.5%4195 27900 33140 0.1%4205 28040 32240 0.2%4080 27500 30960 -3.0%4120 27400 31280 1.0%4110 27120 31380 -0.2%4085 27380 31700 -0.6%4135 27300 31020 1.2%4060 27040 29800 -1.8%3955 26720 29680 -2.6%3975 26520 30500 0.5%4000 26320 30580 0.6%4085 26400 30580 2.1%4180 27000 30500 2.3%

4120 26680 30640 -1.4%3960 26540 30260 -4.0%3975 25800 31460 0.4%3850 25700 29900 -3.2%3850 25400 30000 0.0%3885 25620 30060 0.9%3900 25900 30800 0.4%4080 26400 32000 4.5%4080 25900 32580 0.0%4045 25600 32000 -0.9%4100 25560 31100 1.4%4035 25640 31300 -1.6%4010 25400 31640 -0.6%3955 25420 31400 -1.4%3875 24980 30900 -2.0%4050 24780 31900 4.4%4060 25000 31960 0.2%4140 25600 32680 2.0%4160 25500 32600 0.5%4235 25880 32460 1.8%4295 26500 32260 1.4%4330 26100 31540 0.8%4320 25700 31300 -0.2%4390 26600 31960 1.6%4385 26620 32040 -0.1%4340 26900 31740 -1.0%4325 26900 31800 -0.3%4300 26800 32200 -0.6%4305 26900 32280 0.1%4335 26800 31140 0.7%4350 26920 31760 0.3%4330 27140 32460 -0.5%4345 27460 32180 0.3%4455 26500 31760 2.5%4320 26400 32000 -3.1%4340 26600 32640 0.5%4335 26880 32500 -0.1%4340 27120 32980 0.1%4355 27480 33300 0.3%4345 27220 33000 -0.2%4370 26700 32960 0.6%4390 26700 33000 0.5%4360 26900 32600 -0.7%4355 26760 32600 -0.1%

1) En las columnas E-G calcule el rendmiento logarítmico diario de las tres acciones

-3.7% -0.9%3.4% 1.7%0.5% -0.8%1.4% 1.0%0.3% 2.7%1.5% 1.0%

-2.4% 1.2%2.9% 0.8%1.7% 1.7%3.4% 2.0%

-0.8% -0.9%5.0% 2.6%3.6% 8.2%

-0.7% 1.2%-0.7% 0.0%-0.9% 1.8%-0.5% 3.0%1.7% 2.1%

-2.0% -1.2%-0.8% 0.2%0.2% -0.2%0.0% -0.8%

-0.2% -3.0%0.6% 1.2%

-1.1% 0.8%1.4% 0.6%

-0.5% 1.4%0.3% 0.0%1.7% 1.7%

-1.4% -0.4%-0.2% 0.2%0.8% -0.6%

-0.3% -0.2%-3.5% -2.1%-1.4% -1.7%1.6% -0.9%1.4% 0.0%

-3.1% -1.0%-0.8% 1.0%-0.5% -0.6%0.3% 0.2%0.2% 0.4%0.6% 0.8%

1.7% 0.2%0.5% -0.5%0.9% -0.5%

-2.2% 0.4%0.9% -0.4%0.6% 2.0%

-2.0% -2.0%1.1% -0.2%0.2% 0.0%

-1.4% 0.0%0.3% -0.8%

-2.6% -1.0%0.5% 0.0%

-0.8% -0.5%-2.5% -2.6%-2.0% 0.0%0.3% 0.0%

-3.3% -1.1%-0.9% -0.5%-2.3% -0.5%0.5% -2.2%1.4% 3.9%2.8% 1.5%

-4.4% 2.1%-0.7% 0.0%2.7% 2.0%

-0.5% -2.0%0.9% -2.0%

-0.4% 0.4%2.1% 3.1%0.0% -1.5%1.9% 1.5%1.9% -0.3%2.5% 1.8%

-2.0% 0.2%1.6% 0.8%0.3% 0.8%0.3% 1.2%0.5% 1.4%

-1.8% 0.6%0.3% 1.9%

-0.2% -1.1%-1.3% -0.8%1.5% 3.6%0.3% 0.4%3.5% 2.5%1.6% -0.9%

-0.3% -0.2%-0.5% -0.4%-0.8% -0.5%0.8% 0.4%

-1.4% -0.9%0.6% -0.6%

-0.2% 0.4%-0.6% -0.4%-1.0% -1.3%0.3% 1.7%0.5% -1.9%

-0.2% 0.0%2.0% 0.9%0.8% -0.7%

-0.2% 0.0%3.1% 1.8%0.6% 2.5%3.1% 0.2%0.7% 0.0%0.7% -0.2%4.2% 0.9%4.9% 3.5%

-0.1% -1.9%-0.8% 1.0%-3.1% 2.4%1.5% 3.8%0.3% -2.0%3.9% 2.0%1.0% 0.0%

-0.6% 0.6%-1.8% -2.1%0.6% -0.5%1.9% 0.8%

-0.6% -0.5%-0.8% 2.1%-0.4% 0.8%1.9% 3.9%0.0% -1.9%

-0.6% 0.5%1.3% 1.4%0.0% -0.9%0.4% -0.5%

-0.1% 0.2%0.5% -1.1%0.5% 1.9%

-0.6% 1.5%-0.6% -1.7%1.1% 0.0%

-0.6% 1.4%2.0% 1.5%

-0.2% 0.0%-0.9% 1.3%1.1% 1.2%

-0.7% 3.6%1.4% -0.3%

0.6% 4.0%-0.2% -0.7%0.1% 0.8%

-1.1% -0.7%-0.6% 2.7%-1.4% -2.4%-3.7% -0.8%0.0% -1.8%

-1.7% 0.8%0.8% 0.8%

-0.4% 1.8%-0.1% 0.8%0.5% 1.2%1.7% 0.5%0.5% 1.7%1.3% 2.6%0.5% 0.4%0.8% -0.5%

-0.1% 0.0%-0.3% -2.4%2.2% 3.2%0.6% 0.9%1.2% 0.5%1.6% -0.7%

-0.8% 0.0%1.7% 1.9%0.8% 0.0%

-1.5% -0.4%1.3% 0.4%1.4% 0.4%1.4% 0.1%

-1.4% 0.7%0.2% 0.0%1.5% 1.8%1.5% 0.6%2.8% 0.1%0.1% -1.3%0.2% -0.4%

-1.5% -0.4%-0.2% -0.8%0.4% 0.0%

-2.9% -2.0%-0.9% 2.2%-1.1% -2.0%1.5% -0.4%1.2% 0.0%1.6% 0.9%0.1% -0.1%

-0.4% 0.2%1.0% 1.5%

-0.1% -0.2%

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-4.2% -3.1%1.6% 3.2%1.3% -1.8%1.2% -0.3%0.7% -1.1%0.4% 0.8%

-0.3% 0.6%0.1% 1.0%0.8% -1.0%

-0.3% -3.3%0.3% -0.5%0.3% -1.9%0.0% 1.3%

-0.2% 0.9%0.1% -0.3%0.1% -1.1%

-1.4% -2.3%-3.0% -3.4%-1.4% -1.1%0.6% 2.1%

-0.4% 4.1%-1.8% 2.6%1.4% 1.5%

-0.4% 2.1%0.1% 2.2%0.4% 1.5%

-1.5% -0.8%0.9% 0.5%1.1% -0.9%

-1.0% 0.9%-1.1% 0.4%0.5% -2.8%

-1.9% -4.1%-0.4% 1.0%-1.0% 0.3%1.0% 1.0%

-0.3% -2.2%-1.0% -4.0%-1.2% -0.4%-0.8% 2.7%-0.8% 0.3%0.3% 0.0%2.2% -0.3%

-1.2% 0.5%-0.5% -1.2%-2.8% 3.9%-0.4% -5.1%-1.2% 0.3%0.9% 0.2%1.1% 2.4%1.9% 3.8%

-1.9% 1.8%-1.2% -1.8%-0.2% -2.9%0.3% 0.6%

-0.9% 1.1%0.1% -0.8%

-1.7% -1.6%-0.8% 3.2%0.9% 0.2%2.4% 2.2%

-0.4% -0.2%1.5% -0.4%2.4% -0.6%

-1.5% -2.3%-1.5% -0.8%3.4% 2.1%0.1% 0.3%1.0% -0.9%0.0% 0.2%

-0.4% 1.3%0.4% 0.2%

-0.4% -3.6%0.4% 2.0%0.8% 2.2%1.2% -0.9%

-3.6% -1.3%-0.4% 0.8%0.8% 2.0%1.0% -0.4%0.9% 1.5%1.3% 1.0%

-1.0% -0.9%-1.9% -0.1%0.0% 0.1%0.7% -1.2%

-0.5% 0.0%

2) A continuación, complete la tabla de abajo:

ECOPETL CB EquityMedia rendimientos diarios 0.072%Desviación estándar (Riesgo) rendimientos diarios diario 1.37%Rendimiento annual (252 días hábiles) 18.11%Desviación estándar Annual 21.81%

1.65 Var5% asumiendo normalidad diario -2.19%Var1% asumiendo normalidad diario -3.13%Var5% histórico diario -2.17%Var1% histótico diario -3.95%

ECOPETL CB Equity

Var5% asumiendo normalidad equivalente annual -17.87%Var1% asumiendo normalidad equivalente annual -32.70%

BCOLO CB Equity EXITO CB Equity0.073% 0.123%

1.46% 1.49%18.38% 31.07%23.18% 23.71%

2.33 -2.34% -2.34%-3.33% -3.36%-2.30% -2.17%-3.70% -3.82%

BCOLO CB Equity EXITO CB Equity

-19.87% -8.05%-35.64% -24.17%

Punto 5 (25%). Conceptos

Favor definir brevemente y en términos simples los siguientes conceptos:

·         Diferencias entre Riesgo Sistemático y Riesgo Idiosincrático

·         Principal aporte de Markowitz

·         VaR(5%)

·         Osciladores

·         Operación de Arbitraje

·         Beta Defensivo (en el CAPM), enuncie un sector ejemplo y explique

·         Describa una estratégia de análisis técnico

·         Principales indicadores de análisis Fundamental

·         Diferencia entre Mercado Primario y Mercado Secundario

Nombre 1:Nombre 2:

Punto 6. Evaluación

Como parte de mi formación como docente, les agradezco que individualmente realice la evaluación del curso recibido.

De esta forma, favor evaluar los aspectos 1) Buenos, 2) Malos, 3) Interesantes del curso, en cuanto a: a) El Contenido visto, b) La metodología implementada, c) El docente.

El Contenido La Metodología DocenteBuenosMalosInteresantes

CCCC

Como parte de mi formación como docente, les agradezco que individualmente realice la evaluación del curso recibido.

De esta forma, favor evaluar los aspectos 1) Buenos, 2) Malos, 3) Interesantes del curso, en cuanto a: a) El Contenido visto, b) La metodología implementada, c) El docente.