What is Attributional analysis?
What is Attributional analysis?
an approach to understanding persuasion in terms of the reasons given by people for why communicators of persuasive messages adopt particular attitudes.
What is Brinson analysis?
The Brinson model takes an ANOVA-type approach and decomposes the active return of any portfolio into asset allocation, stock selection, and interaction effect. The regression-based analysis utilizes estimated coefficients, based on a regression model, to attribute active return to different factors.
How do you conduct attribution analysis?
Perform a Portfolio Return Attribution Analysis
- Step 1: Create a Weighted Benchmark That Includes All Asset Classes.
- Step 2: Calculate Returns for Each Asset Class and for the Overall Portfolio.
- Step 3: Compare Your Returns for Each Asset Class to the Benchmark Returns.
What is the Brinson model?
The Brinson model attributes the excess return almost entirely to security selection. In contrast, the risk-based performance attribution indicates excess return is attributable to both systematic risk exposures and security-specific decisions.
What are the four factors of Bernard Weiner’s attribution theory?
Weiner focused his attribution theory on achievement (Weiner, 1974). He identified ability, effort, task difficulty, and luck as the most important factors affecting attributions for achievement. Attributions are classified along three causal dimensions: locus of control, stability, and controllability.
What is the difference between contribution and attribution?
“Attribution” is the idea that a change is solely due to your intervention. “Contribution” is the idea that your influence is just one of many factors which contribute to a change.
How do you calculate return attribution?
Multiply Sector Weights by Differences in Returns Subtract the weight of each sector in the portfolio from the weight of the same sector in the benchmark. Multiply the difference obtained with the difference in returns between the benchmark return of the sector and the return on the portfolio’s benchmark.
What is equity attribution?
Models of equity return attribution often attempt to separate the investment. process into those two key decisions—selection and allocation—assigning both a. magnitude and direction (plus or minus) for both decisions.
What is contribution to return?
Contribution to return measures the contribution of certain portfolio constituents (symbols, sectors) to the portfolio’s overall return. For example, contribution to return can decompose a portfolio’s return to illustrate which sectors did or did not contribute positively to the portfolio’s return.
What is return contribution?
Return contribution analysis is used to compare the weighted returns of separate investments within a portfolio, thus allowing the impact of those separate investments to be compared.
What is Weiner’s theory?
Weiner’s attribution theory states that an individual’s causal attributions of achievement affect subsequent behaviors and motivation. If people believe they are responsible for bad outcomes, they are less motivated to repeat their behaviors.
What is Weiner’s classification of the causes of achievement outcomes?
What’s new in multi-period investment performance attribution?
A New Choice in Multi-Period Investment Performance Attribution: Effective Return versus Geometric Smoothing An ongoing challenge in multi-period performance attribution is getting numbers to add that do not add naturally.
Do arithmetic attribution factors add up over multiple periods?
Therefore over multiple periods we should not expect our arithmetic attribution factors which add over single periods to add up for the total period under analysis.
What is return attribution and why is it important?
Return attribution allows us to look across a specific time horizon and identify which investment decisions have either added or detracted value from the portfolio, relative to its benchmark. A Common Type of Return Attribution
Can the results of a single period be transformed into results?
Carino (1999) suggests that the results for the single period can be transformed into results that naturally cumulate over time. Continuously compounded returns may be summed as demonstrated in Equation (2.30). (8.3)