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@inproceedings{10437, author = {Hütteroth, Alexander}, address = {Praha}, booktitle = {Konference doktorandů na Vysoké škole finanční a správní 2022: prezentace výsledků společenskovědního výzkumu s ekonomickými a finančními efekty (9. ročník) = Doctoral Students Conference at the University of Finance and Administration 2022: presentation of the results of social science research with economic and financial effects (9th annual conference)}, edition = {První vydání}, editor = {ROUBAL, Ondřej, ed.}, keywords = {S&P 500; technology sector; mean reversion; interest rates}, howpublished = {tištěná verze "print"}, language = {eng}, location = {Praha}, isbn = {978-80-7408-250-4}, pages = {37-49}, publisher = {Vysoká škola finanční a správní}, title = {Correlation between the Fed Pandemic Policy and the S&P 500 Technology Sector Performance}, url = {https://www.vsfs.cz/prilohy/konference_doktorandu_na_vysoke_skole_fi.pdf}, year = {2022} }
TY - JOUR ID - 10437 AU - Hütteroth, Alexander PY - 2022 TI - Correlation between the Fed Pandemic Policy and the S&P 500 Technology Sector Performance PB - Vysoká škola finanční a správní CY - Praha SN - 9788074082504 KW - S&P 500 KW - technology sector KW - mean reversion KW - interest rates UR - https://www.vsfs.cz/prilohy/konference_doktorandu_na_vysoke_skole_fi.pdf N2 - The technology sector weighting for the S&P 500 Index has reached a weight of more than a quarter end of 2021. At the same time inflation fears drove U.S. treasury yields significantly beginning of 2022. This paper analyzes the prevailing view that this has a negative effect on technology stocks performance and that these are affected by interest rate hikes. The performance of the S&P500 and S&P 500 ex information & technology & communication services vs. U.S. interest rates from 2020 to 2021 and for 2022 is examined. The assumption is that the outperformance of the S&P 500 technology sector was based on the Fed policy and there will be a mean-reversion process with a regime shift. Furthermore, the hypothesis that the higher interest rates at the end of the pandemic the higher the mean reversion process is discussed. Finally, research on other sectors and Euro Stoxx 600 is recommended. ER -
HÜTTEROTH, Alexander. Correlation between the Fed Pandemic Policy and the S\&{}P 500 Technology Sector Performance. In ROUBAL, Ondřej, ed. \textit{Konference doktorandů na Vysoké škole finanční a správní 2022: prezentace výsledků společenskovědního výzkumu s ekonomickými a finančními efekty (9. ročník) = Doctoral Students Conference at the University of Finance and Administration 2022: presentation of the results of social science research with economic and financial effects (9th annual conference)}. První vydání. Praha: Vysoká škola finanční a správní, 2022, p.~37-49. ISBN~978-80-7408-250-4.
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