Investavimas į indeksus arba kaip prekiauti akcijų indeksais

Investing in indices. What are stock indices? 

A stock index is made up of certain stocks.

The main purpose of indices is to provide investors with an easy way to assess the performance of an entire market, sector or region, rather than individual stocks.  Thus, an index shows the performance of different entities, for example: 

✅ By country: German index DAX , US index S&P 500, French index CAC40, Japanese index JP225 (Nikkei 225)

✅ By sector: for example, the US100 index, which reflects stocks and companies in the technology sector, or the TECDAX30 Germany Technology 30 index

How are stock indices calculated?

This is a method based on price estimation. In this case, the arithmetic average of current prices is used. The index changes depending on the change in the prices of the stocks included in it. This is how indices such as the DJIA and Nikkei are calculated.

This method has disadvantages because it does not take into account share fragmentation; a higher share price has a greater weight in the index, regardless of whether it is a large and fast-growing company or a young company with a small capitalization.

The initial market value ( capitalization ) of the stocks included in the index is calculated , which is used to calculate the index value. Large company stocks with a higher capitalization will have a greater impact on the index value than small company stocks.

In this case, there is no weighting at all, meaning that all included stocks have the same weighting, regardless of price or capitalization level. It is assumed that the same amount is invested in each index stock.

The index changes are based on the arithmetic average of the percentage price changes of the index shares. Regardless of the size of the different share prices in the market, their percentage change is the same. The index can be calculated based on the arithmetic or geometric average of the individual percentage price changes.

?    Let's take three companies: A, B, and C. The price of one share of each company is 10, 30, and 50 US dollars, respectively.

?    To calculate the index value, we can simply add their values ​​and we get: 10 + 30 + 50 = 90 index units. 

? When the value of one or more shares increases, the index also increases: 12 + 31 + 53 = 96 index units. In this case, our index increased by 6.7% compared to the initial value.

?    Ką daryti, jeigu mums atrodo, kad vienos įmonės akcijos daro didesnę įtaką ekonominei situacijai nei kitos akcijos? Tada akcijoms tame indekse galime suteikti skirtingus svorius. 

?    Jeigu A ir B akcijos mums yra svarbesnės nei C akcijos, suteikime joms atitinkamus svorius: 0,4; 0,4; 0,2. Šie koeficientai turi būti nuo 1 iki 100 %. Tada mūsų indeksas skaičiuojamas taip: 10 * 0,4 + 30 * 0,4 + 50 * 0,2 = 26. 

?   Jeigu A, B ir C akcijų kainos pasikeitė į 12, 31 ir 53, naujo indekso vertė bus 12 * 0,4 + 31 * 0,4 + 53 * 0,2 = 27,8. Indekso pokytis yra 6,9 % (tai yra daugiau nei 6,7 % pirmuoju atveju).

Kaip analizuojami akcijų indeksai?

Akcijų indeksų raidos analizė leidžia mums padaryti keletą išvadų apie investuotojų polinkį rizikuoti. Jeigu pagrindiniai akcijų rinkos indeksai kyla, tai reiškia, kad prekiautojai investuoja savo pinigus į gana rizikingą turtą, tai yra investuoja į akcijas.

Jeigu polinkis rizikuoti auga, gali sumažinti saugaus prieglobsčio aktyvų, pavyzdžiui, aukso, Šveicarijos franko ar Japonijos jenos, paklausa.

Be to, akcijų rinkos indeksų augimas gali rodyti padidėjusį atitinkamos šalies ekonomikos patrauklumą, o tai didina užsienio investuotojų paklausą jos valiutai. Pavyzdžiui, JAV ekonomikos atveju tai padidins JAV dolerio paklausą.

Kadangi indeksai atspindi labiau ilgalaikes tendencijas – fundamentinė analizė yra labiau naudotina. Techninė analizė tinkama įėjimo ir išėjimo iš rinkos taškams nustatyti.

Vienas svarbiausių fundamentinės analizės instrumentų – PMI indeksas. PMI (Purchasing Managers' Index) yra pirmaujantis indikatorius.

PMI – apklausos būdų surenkama informacija apie tam tikro segmento pirkimo vadybininkų lūkesčius, verslo sąlygas (darbuotojų darbo sąlygas, produkciją, naujų užsakymų skaičių, prekių atsargas ir tiekėjų prekių pristatymą).

SVARBU! PMI apima tik gamybos sektorių!

PMI skelbiami JAV, Europoje, Kinijoje – svarbiausiose ekonomikose kiekvieną mėnesį.

Kiti svarbūs rodikliai:

• mažmeniniai pardavimai,

• darbo užmokesčio augimas,

• infliacija,

• perkamoji galia,

• gyventojų vartojimo nuotaikos.

Investavimas į indeksus. Pagrindiniai akcijų indeksai

Egzistuoja skirtingi pasaulio akcijų indeksai, tačiau kai kuriais jų prekiaujama daugiau nei kitais. Šioje lentelėje apžvelgsime pagrindinius akcijų indeksus:

Šioje lentelėje pateikti devyni akcijų indeksai dažnai laikomi pagrindiniais ir svarbiausiais.

Europos akcijų indeksai

Euro zonos akcijų indeksas

The Euronext stock exchange is the main stock exchange in the Eurozone. The Euronext stock index is the Euro Stoxx 50. The Euro Stoxx 50 stock index consists of 50 companies ranked by their market capitalization in the Eurozone.

German stock index

One of the best known and most widely traded German stock indices is the DAX ! It is a global stock index that is highly regarded by global index traders.

The German DAX stock index, sometimes also known as the Frankfurt Stock Exchange Index, is associated with the large financial center of Frankfurt and occupies a very important place in global stock markets .

London Stock Market Index

The London Stock Exchange, which is one of the most famous in the world, also has its own English stock index - the FTSE 100 , which is of great importance in international index trading.

Spanish stock index

Although it is a somewhat lesser-known stock index on the European continent, a number of traders in Spain invest in this index.

The main Spanish stock index is called the IBEX 35, and it consists of 35 companies, weighted according to their market capitalization.

French stock index

The Paris Stock Exchange is one of the largest in the world and its index is the CAC 40 .

The CAC 40 stock index is composed of 40 continuously traded stocks, selected from the 100 companies with the highest number of transactions on the Euronext Paris exchange.

Other European stock indices

American stock indices

Now let's move to the other side of the Atlantic, where there are also many different stock index markets. The American stock market is one of the largest in the world and has several major financial centers, although the most important is the NYSE (New York Stock Exchange).

The most well-known stock indices on this exchange are the Dow Jones and Nasdaq stock indices.

Dow Jones stock index

You've probably heard about this index from stock market news on TV or online. The Dow Jones Industrial Average is a widely traded index on the world's stock markets. It includes stocks of 30 major U.S. companies.

US index​

The US index is one of the global indices well known to all index traders.It is a stock index representing 100 large-cap companies. The US index excludes financial companies and consists of the largest technology companies.

Asian stock indices

The truth is that we often talk about the Paris, London or American stock markets, but what about the Asian stock market? Let's discuss Asian stock indices!

Japan stock index

One of the most well-known Asian indices is the Japanese stock index Nikkei 225. This index, also known as the Tokyo Stock Index, consists of 225 companies and is the most important stock index in the Japanese stock market.

Chinese stock indices

➡️ In China, we would find the Chinese stock index – the SSE Composite Index. The SSE Composite Index is the most widely used stock index in China, reflecting the performance of the Shanghai Stock Exchange.

➡️ In addition to this, there is another Chinese stock index - CSI 300. The Chinese stock index CSI 300 is an index of the Shanghai Stock Exchange, consisting of the 300 companies with the largest market capitalization in the country.

These stock indices can sometimes be found under the common name Beijing Stock Index, which refers to the country's capital, even though the country's stock exchange is located in Shanghai.

➡️ Another Chinese stock index is the FTSE China 50, also called the Shanghai Stock Index or the Shenzhen Stock Index due to its composition, which is based on the Shanghai and Shenzhen stock markets.

Hong Kong Stock Index

The Hong Kong Stock Exchange Index – HSI50 – consists of the 50 largest companies in the country by market capitalization.

Russian stock index

The Russian stock index is also called the Moscow stock index, after the country's capital, the financial center. The Moscow stock index is MICEX.

African stock indices

The list of African stock indices is very long, so we only list the main stock indices here:

➡️ Moroccan Stock Index

➡️ Algerian stock index

➡️ Tunisian Stock Index

➡️ South African Stock Index

Investing in indices. How to trade stock indices

Trading stock indices has various characteristics.

1️⃣    Stock indices tend to grow in the medium and long term. The reason is that their composition is periodically adjusted, and the indices include only the most important and promising companies.

For this reason, opening short positions (selling) in index markets is very risky.

Source: Admirals MetaTrader 5, Canada 60 Stock Index Monthly Chart, July 1, 1997 - January 1, 2021. Data as of January 26, 2021. Please note that past performance is not a reliable indicator of future results.

Historical data shows that despite downward corrections, there is a high probability that the index price will rise again in the near future and reach new heights.

2️⃣    Many major indices frequently update their maximum values. In other words, they do not have a resistance level to aim for.

For this reason, traders use various analytical tools to predict a possible target level. For this purpose, various technical indicators can be used , such as Fibonacci levels. 

Investing in indices. What are the advantages and disadvantages?

Watch our video on day trading the S&P 500 index :

Investing in indices. Conclusion

If you are interested in investing in indices and trading global stock indices, we can advise you!

☝️  Open a demo account

Before you start trading for real, open a demo account first to test your trading strategy. This account will allow you to test your ideas in real conditions without risking your own money!

☝️   Use available analysis tools

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