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1 risk-adjusted return on capital
Finreturn on capital calculated in a way that takes into account the risks associated with income.EXAMPLEBeing able to compare a high-risk, potentially high-return investment with a low-risk, lower-return investment helps answer a key question that confronts every investor: is it worth the risk?There are several ways to calculate riskadjusted return. Each has its strengths and shortcomings. All require particular data, such as an investment’s rate of return, the risk-free return rate for a given period, and a market’s performance and its standard deviation.The choice of calculation depends on an investor’s focus: whether it is on upside gains or downside losses.Perhaps the most widely used is the Sharpe ratio. This measures the potential impact of return volatility on expected return and the amount of return earned per unit of risk. The higher a fund’s Sharpe ratio, the better its historical risk-adjusted performance, and the higher the number the greater the return per unit of risk. The formula is:(Portfolio return – Risk-free return)/Std deviation of portfolio return = Sharpe ratioTake, for example, two investments, one returning 54%, the other 26%. At first glance, the higher figure clearly looks like the better choice, but because of its high volatility it has a Sharpe ratio of 0.279, while the investment with a lower return has a ratio of 0.910. On a risk-adjusted basis the latter would be the wiser choice.The Treynor ratio also measures the excess of return per unit of risk. Its formula is:(Portfolio return – Risk-free return)/ Portfolio’s beta = Treynor ratioIn this formula (and others that follow), beta is a separately calculated figure that describes the tendency of an investment to respond to marketplace swings. The higher beta the greater the volatility, and vice versa.A third formula, Jensen’s measure, is often used to rate a money manager’s performance against a market index, and whether or not a investment’s risk was worth its reward. The formula is:(Portfolio return – Risk-free return) – Portfolio beta × (Benchmark return – Riskfree return) = Jensen’s measureThe ultimate business dictionary > risk-adjusted return on capital
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2 Risk-Adjusted Return on Capital
Finances: RAROCУниверсальный русско-английский словарь > Risk-Adjusted Return on Capital
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3 норма прибыли с поправкой на риск
норма прибыли с поправкой на риск
учетная ставка с поправкой на риск
В бюджете капитальных вложений это - процент отдачи, корректируемый под ожидаемый риск проекта. Текущая стоимость проекта, риск которого может быть больше среднего, определяется по ставке выше средней. Называется также Учетная ставка с поправкой на риск (Risk-Adjusted Discount Rate).
[ http://www.lexikon.ru/dict/uprav/index.html]Тематики
Синонимы
EN
Русско-английский словарь нормативно-технической терминологии > норма прибыли с поправкой на риск
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4 ajuste por riesgo
• risk adjustment• risk analysis• risk-adjusted• risk-adjusted rate -
5 tasa ajustada por riesgo
• risk• risk adjustment• risk-adjusted discount rate• risk-adjusted rateDiccionario Técnico Español-Inglés > tasa ajustada por riesgo
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6 tipo ajustado por riesgo
• risk• risk adjustment• risk-adjusted discount rate• risk-adjusted rateDiccionario Técnico Español-Inglés > tipo ajustado por riesgo
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7 скорректированные на риск активы
скорректированные на риск активы
Активы, показанные в балансе банка, с указанием степени связанного с ними риска. С 1922 г. банки обязаны определять нормы достаточности собственного капитала (capital adequacy), рассчитанные с учетом различной степени рисков, связанных с займами, иностранной валютой, государственными ценными бумагами, иностранными займами и закладными. В систему скорректированных на риск активов входят также активы, которые не отражаются в балансе,-аккредитивы, процентные свопы и валютные опционы, но которые также заключают в себе ту или иную степень риска, подлежащую определению. В 1992 г. через Банк международных расчетов (Bank for International Settlements) в систему учета скорректированных на риск активов были внесены кардинальные изменения; эти изменения, после того как они будут окончательно сформулированы, вероятно, повлияют на калькуляцию и оценку достаточности собственного капитала банков.
[ http://www.vocable.ru/dictionary/533/symbol/97]Тематики
EN
Русско-английский словарь нормативно-технической терминологии > скорректированные на риск активы
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8 análisis del riesgo
• risk adjustment• risk analysis• risk assessment• risk-adjusted discount rate -
9 determinación de riesgo
• risk analysis• risk assessment• risk asset• risk-adjusted rateDiccionario Técnico Español-Inglés > determinación de riesgo
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10 determinación de riesgos
• risk analysis• risk assessment• risk asset• risk-adjusted rateDiccionario Técnico Español-Inglés > determinación de riesgos
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11 valoración de riesgo
• risk analysis• risk assessment• risk asset• risk-adjusted rate -
12 tasa de descuento ajustada a los riesgos
• rising yield pattern• risk-adjusted• risk-adjusted discount rate• risk-adjusted rateDiccionario Técnico Español-Inglés > tasa de descuento ajustada a los riesgos
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13 tasa de descuento ajustada por riesgo
• rising yield pattern• risk-adjusted• risk-adjusted discount rate• risk-adjusted rateDiccionario Técnico Español-Inglés > tasa de descuento ajustada por riesgo
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14 ajustado por riesgo
• rising wedge• risk• risk-adjusted• risk-adjusted discount rate -
15 с поправкой на риск
1) Insurance: adjusted for risk2) Banking: risk-adjustedУниверсальный русско-английский словарь > с поправкой на риск
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16 risikoadjustiert
risikoadjustiert adj FIN, WIWI risk-adjusted (Synonym: risikoangepasst, risikobereinigt, risikogerecht, risikoadäquat)* * *adj jarg <Finanz, Vw> risk adjusted -
17 risikoangepasster Diskontsatz
risikoangepasster Diskontsatz m FIN risk-adjusted discount rate* * *m < Finanz> risk-adjusted discount rateBusiness german-english dictionary > risikoangepasster Diskontsatz
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18 с учётом риска
1) Economy: with an allowance for risk2) Banking: with allowance for risk, risk-adjusted -
19 peligro
• danger• endargerment• haystack• hazard analysis• imperilment• jeopardy• peril• rising vote• rising yield pattern• risk• risk-adjusted• risk-taking• riskily• riskiness• riskless• thin flannel cloth• thin layer -
20 riesgo
• danger• jeopardy• peril• rising vote• rising yield pattern• risk• risk-adjusted• risk-taking• riskily• riskiness• riskless• venture
См. также в других словарях:
risk-adjusted — UK US adjective FINANCE ► if the profit from an investment is risk adjusted, it is calculated in a way that takes account of the risk involved: »risk adjusted returns … Financial and business terms
risk-adjusted — adj. Risk adjusted is used with these nouns: ↑return … Collocations dictionary
Risk adjusted return on capital — (RAROC) is a risk based profitability measurement framework for analysing risk adjusted financial performance and providing a consistent view of profitability across businesses. The concept was developed by Bankers Trust in the late 1970s. Note,… … Wikipedia
risk-adjusted return on capital — ( RAROC) An economic approach to measure unit and product profitability within a financial institution. Returns, adjusted to reflect normalized or expected losses, are divided by an amount of capital that is carefully quantified to reflect the… … Financial and business terms
risk-adjusted return — The profit, often but not always expressed as a percentage rate of return on allocated capital, after recognizing applicable costs for credit risk, interest rate risk, liquidity risk and/or other financial risks. In some measures, risk costs are… … Financial and business terms
Risk-Adjusted Return On Capital - RAROC — An adjustment to the return on an investment that accounts for the element of risk. Risk adjusted return on capital (RAROC) gives decision makers the ability to compare the returns on several different projects with varying risk levels. RAROC was … Investment dictionary
Risk Adjusted Return On Capital — Die RAROC Steuerung (Risk Adjusted Return on Capital) kennzeichnet ein wertschöpfungsorientiertes Zielsystem, welches in Kreditinstituten zur Anwendung kommt. Mit ihm lässt sich die Wertschöpfung (aus rein ökonomischer Sicht) auf verschiedenen… … Deutsch Wikipedia
Risk Adjusted Return on Capital — Die RAROC Steuerung (Risk Adjusted Return on Capital) kennzeichnet ein wertschöpfungsorientiertes Zielsystem, welches in Kreditinstituten zur Anwendung kommt. Mit ihm lässt sich die Wertschöpfung (aus rein ökonomischer Sicht) auf verschiedenen… … Deutsch Wikipedia
Risk-Adjusted Return — A concept that refines an investment s return by measuring how much risk is involved in producing that return, which is generally expressed as a number or rating. Risk adjusted returns are applied to individual securities and investment funds and … Investment dictionary
risk adjusted performance measure — RAPM Misura di redditività di un operazione, di un cliente, di un area di risultato o di un unità organizzativa. Per ottenere una misura RAP occorre mettere a confronto il margine economico ( al netto delle perdite attese ) associabile ad una … Glossario di economia e finanza
risk-adjusted — /rɪsk ə dʒʌstɪd/ adjective calculated after taking risk into account … Dictionary of banking and finance