NEW YORK, March 4 — Axioma, a leading provider of advanced tools for risk management and portfolio construction, today announced the launch of Axioma Portfolio Analytics v 7.6, with enhanced stress-testing capabilities and access to Axioma’s new US Macroeconomic Equity Factor Risk Model, giving users an unprecedented array of options for portfolio analysis.
“The new capabilities in 7.6 open doors to a whole new range of choices for risk analysis and performance attribution,” said Mark Cushey, Director of Product Management. “Using 7.6 in conjunction with our new Macroeconomic Model allows clients to approach their investment process with more information and insight, resulting in both improved understanding of the sources of portfolio returns and better control over risk exposures.” Read more…
At the start of 2013, it was hard to tell emerging markets from developed markets—on the basis of risk-return tradeoffs, anyway. But all that changed as the year unfolded. The latest data now suggest a reversal back toward where things were a year ago, with volatility easing in emerging markets and increasing in developed markets. If the trend continues, the big (risk) story in 2014 could be a shift back to developed markets.
Research Paper No. 049
Turmoil in currency markets is being driven by, among others, Argentina and Turkey. But what about equities? Is the recent downturn simply the long-anticipated market correction following last year’s bull market, or is the currency contagion infecting equities? Is last week’s upturn cause for optimism or only a pause? Here Axioma examines some of the recent equity market results in an attempt to provide some answers.
Research Paper No. 048
Developing and Emerging Markets Continue to Decouple in 2013
NEW YORK, January 28 —Mid-year anxiety over both Fed tapering and slowing growth in China, plus worries about the impact of the US government shutdown, drove market risk to a peak in the second quarter of 2013, but it was all downhill after that, with levels of risk in most markets ending the year lower than where they started, according to an analysis of 2013 trends in risk by Axioma, Inc., a leading provider of advanced tools for risk management and portfolio construction.
“Although it was ‘risk off’ for many investors at mid-year, large cap US stocks ended up having their best year since 2003, despite the government shutdown, with consumer discretionary stocks leading the way,” said Melissa Brown, Senior Director of Applied Research at Axioma. “Relatively safe utilities brought up the rear of US sectors, albeit with positive return that might have looked quite strong in a different environment.” Read more…