هل من الممكن ان تكون العملات المشفرة أداة لتحسين أداء المحفظة الاستثمارية؟: دراسة تحليلية مقارنة بين المحافظ التقليدية والمحافظ الهجينة لعينة من الشركات الامريكية

Abstract EN

The study aims to build traditional investment portfolios based on a sample of American companies divided according to the beta into defensive companies (beta less than one) and offensive companies (beta higher than one) using allocations that serve the goals of investors according to their orientations in terms of return and risks, and then building hybrid portfolios American companies use in addition to cryptocurrencies in their combination, and the sample included (30) American companies in various sectors in addition to (6) cryptocurrencies, and on this basis (16) portfolios were built with (4) different investment portfolios for each stage.

The study hypothesized that cryptocurrencies can improve the performance of the investment portfolio, and thus the hybrid portfolio can achieve higher profits than the profits achieved by traditional portfolios at the same level of risk.

The study found that the hybrid portfolios (maximizing the return and maximizing the Sharpe value) achieved levels above the limit and above the capital market line, and at the same levels of risk as the traditional portfolio.

Therefore, cryptocurrencies are considered one of the financial tools that improve the performance of the wallet.

It can be concluded that the use of cryptocurrencies can contribute to improving the performance of the Sharp Portfolio Index because of its unique characteristics that differ from other assets.