"INTER-TR\u017DN\u00CD P\u0158\u00CDSTUP K ANAL\u00DDZE KOMODITN\u00CDCH, AKCIOV\u00DDCH, DLUHOPISOV\u00DDCH A M\u011ANOV\u00DDCH TRH\u016E USA" . "CZ - \u010Cesk\u00E1 republika" . "RIV/70883521:28120/14:43872457" . "The paper examines the basic intermarket model of the four traditional capital asset classes. The model is created by using four most widely followed global market indices S&P 500, R/J CRB, 30 Year US Treasury Bond Price and Dollar Index. Relative performances of those leading global benchmarks are calculated from monthly adjusted close prices and used in product momentum correlations to reflect the statistical significance of the observed empirical results. Dividend yields are not considered in calculations. The selected fifteen year time period allow the user to investigate performances of the four different capital markets during the different economic phases including economic prosperity, economic slowdown or economic turndown phase and indicate how they interrelate. The research identified statistically significant positive correlation between indexes S&P 500 and US Dollar Index in the Faze2, statistically significant negative correlation between indexes 30 Year US Treasury Bond Price and R/JCRB during the Faze4 and finally statistically significant negative correlation between indexes R/J CRB and US Dollar Index during the Faze4 at the 95,0 % confidence level. In other cases and fazes statistically significant non zero correlations were detected. The research work results are beneficial for the areas of sector rotation, tactical asset allocation and carry trade."@en . "3" . . . "1211-555X" . . . "Stock, Bond, Commodity, Correlation, Intermarket."@en . "THE INTERMARKET APPROACH TO ANALYZING THE U. S. COMMODITY, STOCK, BOND AND CURRENCY MARKETS"@en . . "RIV/70883521:28120/14:43872457!RIV15-MSM-28120___" . . . . "INTER-TR\u017DN\u00CD P\u0158\u00CDSTUP K ANAL\u00DDZE KOMODITN\u00CDCH, AKCIOV\u00DDCH, DLUHOPISOV\u00DDCH A M\u011ANOV\u00DDCH TRH\u016E USA"@cs . . . . . "S" . "INTER-TR\u017DN\u00CD P\u0158\u00CDSTUP K ANAL\u00DDZE KOMODITN\u00CDCH, AKCIOV\u00DDCH, DLUHOPISOV\u00DDCH A M\u011ANOV\u00DDCH TRH\u016E USA" . . "[A8C89138A810]" . . . . "Scientific Papers of the University of Pardubice. Series D. Faculty of Economics and Administration" . "P\u0159\u00EDsp\u011Bvek p\u0159edstavuje z\u00E1kladn\u00ED inter tr\u017En\u00ED model zahrnuj\u00EDc\u00ED \u010Dty\u0159i tradi\u010Dn\u00ED tr\u017En\u00ED kategorie podkladov\u00FDch aktiv. Model je zkonstruov\u00E1n s pou\u017Eit\u00EDm \u010Dty\u0159 v\u016Fd\u010D\u00EDch glob\u00E1ln\u00EDch benchmark\u016F S&P 500, R/J CRB, 30-Year US Treasury Bond Price a Dollar Index. Relativn\u00ED n\u00E1vratnosti p\u0159edn\u00EDch glob\u00E1ln\u00EDch benchmark\u016F jsou vypo\u010Dteny z m\u011Bs\u00ED\u010Dn\u00EDch upraven\u00FDch z\u00E1v\u011Bre\u010Dn\u00FDch cen a n\u00E1sledn\u011B pou\u017Eity p\u0159i v\u00FDpo\u010Dtu v\u00FDsledn\u00FDch momentov\u00FDch korelac\u00ED a detekci statistick\u00E9 v\u00FDznamnosti empirick\u00FDch v\u00FDsledk\u016F. Dividendy nejsou p\u0159i kalkulaci br\u00E1ny v \u00FAvahu. Zvolen\u00E9 patn\u00E1ctilet\u00E9 v\u00FDzkumn\u00E9 obdob\u00ED umo\u017E\u0148uje \u0161et\u0159en\u00ED vz\u00E1jemn\u00FDch vazeb mezi v\u00FDkonnostmi \u010Dty\u0159 r\u016Fzn\u00FDch kapit\u00E1lov\u00FDch trh\u016F v pr\u016Fb\u011Bhu r\u016Fzn\u00FDch ekonomick\u00FDch f\u00E1z\u00ED zahrnuj\u00EDc\u00ED ekonomickou prosperitu, ekonomick\u00E9 zpomalen\u00ED \u010Di f\u00E1zi ekonomick\u00E9ho \u00FAtlumu. Empirick\u00E9 v\u00FDsledky v\u00FDzkumu poukazuj\u00ED na statisticky v\u00FDznamnou pozitivn\u00ED korelaci mezi indexy S&P 500 a Dollar Index ve F\u00E1zi 2, statisticky v\u00FDznamnou negativn\u00ED korelaci mezi indexy 30-Year US Treasury Bond Price a R/JCRB b\u011Bhem F\u00E1ze 4 a na statisticky v\u00FDznamnou negativn\u00ED korelaci mezi indexy R/J CRB Dollar Index b\u011Bhem F\u00E1ze4, se spolehlivost\u00ED 95 %. V ostatn\u00EDch p\u0159\u00EDpadech byly detekov\u00E1ny statisticky nev\u00FDznamn\u00E9 nenulov\u00E9 korelace. V\u00FDsledky v\u00FDzkumu jsou vyu\u017Eiteln\u00E9 v oblastech sektorov\u00E9 rotace, taktick\u00E9 alokace aktiv a Carry Trade."@cs . "11"^^ . "21" . "P\u0159\u00EDsp\u011Bvek p\u0159edstavuje z\u00E1kladn\u00ED inter tr\u017En\u00ED model zahrnuj\u00EDc\u00ED \u010Dty\u0159i tradi\u010Dn\u00ED tr\u017En\u00ED kategorie podkladov\u00FDch aktiv. Model je zkonstruov\u00E1n s pou\u017Eit\u00EDm \u010Dty\u0159 v\u016Fd\u010D\u00EDch glob\u00E1ln\u00EDch benchmark\u016F S&P 500, R/J CRB, 30-Year US Treasury Bond Price a Dollar Index. Relativn\u00ED n\u00E1vratnosti p\u0159edn\u00EDch glob\u00E1ln\u00EDch benchmark\u016F jsou vypo\u010Dteny z m\u011Bs\u00ED\u010Dn\u00EDch upraven\u00FDch z\u00E1v\u011Bre\u010Dn\u00FDch cen a n\u00E1sledn\u011B pou\u017Eity p\u0159i v\u00FDpo\u010Dtu v\u00FDsledn\u00FDch momentov\u00FDch korelac\u00ED a detekci statistick\u00E9 v\u00FDznamnosti empirick\u00FDch v\u00FDsledk\u016F. Dividendy nejsou p\u0159i kalkulaci br\u00E1ny v \u00FAvahu. Zvolen\u00E9 patn\u00E1ctilet\u00E9 v\u00FDzkumn\u00E9 obdob\u00ED umo\u017E\u0148uje \u0161et\u0159en\u00ED vz\u00E1jemn\u00FDch vazeb mezi v\u00FDkonnostmi \u010Dty\u0159 r\u016Fzn\u00FDch kapit\u00E1lov\u00FDch trh\u016F v pr\u016Fb\u011Bhu r\u016Fzn\u00FDch ekonomick\u00FDch f\u00E1z\u00ED zahrnuj\u00EDc\u00ED ekonomickou prosperitu, ekonomick\u00E9 zpomalen\u00ED \u010Di f\u00E1zi ekonomick\u00E9ho \u00FAtlumu. Empirick\u00E9 v\u00FDsledky v\u00FDzkumu poukazuj\u00ED na statisticky v\u00FDznamnou pozitivn\u00ED korelaci mezi indexy S&P 500 a Dollar Index ve F\u00E1zi 2, statisticky v\u00FDznamnou negativn\u00ED korelaci mezi indexy 30-Year US Treasury Bond Price a R/JCRB b\u011Bhem F\u00E1ze 4 a na statisticky v\u00FDznamnou negativn\u00ED korelaci mezi indexy R/J CRB Dollar Index b\u011Bhem F\u00E1ze4, se spolehlivost\u00ED 95 %. V ostatn\u00EDch p\u0159\u00EDpadech byly detekov\u00E1ny statisticky nev\u00FDznamn\u00E9 nenulov\u00E9 korelace. V\u00FDsledky v\u00FDzkumu jsou vyu\u017Eiteln\u00E9 v oblastech sektorov\u00E9 rotace, taktick\u00E9 alokace aktiv a Carry Trade." . "22555" . "INTER-TR\u017DN\u00CD P\u0158\u00CDSTUP K ANAL\u00DDZE KOMODITN\u00CDCH, AKCIOV\u00DDCH, DLUHOPISOV\u00DDCH A M\u011ANOV\u00DDCH TRH\u016E USA"@cs . "THE INTERMARKET APPROACH TO ANALYZING THE U. S. COMMODITY, STOCK, BOND AND CURRENCY MARKETS"@en . "28120" . "Vychytilov\u00E1, Jana" . "1"^^ . "1"^^ .