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Correlation, Uncertainty and Investment Decisions

In: Risk-Return Relationship and Portfolio Management

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  • Raj S. Dhankar

    (University of Delhi)

Abstract

Capital market efficiencyMarket efficiency is a matter of great interest for policymakers and investors in designing investment strategy. If efficient market hypothesisEfficient Market Hypothesis (EMH) (EMH) holds true, it will prevent the investors to realize extra return by utilizing the inherent information of stocks. They will realize extra returns only by incorporating the extra risky stocks in their portfolios. While empirical tests of EMHEfficient Market Hypothesis (EMH) and riskRisk –return relationship are plentiful for developed stock markets, the focus on emerging stock markets like India, Pakistan, Sri Lanka, etc., began with the liberalization of financial systems in these markets. With globalization and deregulation, the enormous opportunities of investment in South Asian stock markets have attracted the domestic and foreign institutional investors in general, and to reduce their portfolioPortfolio riskRisk by diversifying their funds across the markets in particular.

Suggested Citation

  • Raj S. Dhankar, 2019. "Correlation, Uncertainty and Investment Decisions," India Studies in Business and Economics, in: Risk-Return Relationship and Portfolio Management, chapter 0, pages 179-195, Springer.
    • Handle: RePEc:spr:isbchp:978-81-322-3950-5_11
    DOI: 10.1007/978-81-322-3950-5_11
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