JP6997477B1 - Programs, information processing equipment and information processing methods - Google Patents

Abstract

PROBLEM TO BE SOLVED: To provide a program, an information processing apparatus and an information processing method capable of suitably supporting asset management based on a portfolio. SOLUTION: In an operation system in which a plurality of terminals, a portfolio generation server, an order list generation server and an order server are connected by communication to a network such as the Internet, the operation request processing procedure of the terminals gives the current business sentiment. The question to be asked is displayed on the display unit S31, the input of the answer to the question is accepted from the user S32, it is a combination of multiple trading stocks traded in the market, and a portfolio of multiple patterns according to the answer is displayed on the display unit S33. , S34 that accepts a selection input for selecting a portfolio that manages a user's assets from a portfolio of a plurality of patterns, and S39 that outputs a management request based on the selected portfolio. [Selection diagram] FIG. 16

Description

The present invention relates to a program, an information processing apparatus and an information processing method.

At the time of asset management, there is a method of creating a portfolio that combines multiple financial product stocks and managing the assets according to the portfolio. Along with this, various systems have been proposed to support the creation and operation of portfolios. For example, Patent Document 1 discloses an information processing apparatus that creates a portfolio according to a theme selected by an investor and proposes it to the investor.

Japanese Patent No. 6285525

However, the invention according to Patent Document 1 is not one in which a user can easily construct a portfolio and operate it.

One aspect is to provide programs that can adequately support portfolio-based asset management.

A program related to one aspect is a portfolio that displays a question asking the current business sentiment on the display unit, accepts input of an answer to the question from the user, and is a combination of a plurality of trading stocks traded in the market. , A portfolio of a plurality of patterns according to the answer is displayed on the display unit, a selection input for selecting a portfolio for managing the user's assets is accepted from the portfolios of the plurality of patterns, and an investment request based on the selected portfolio is received. Is output , one axis is the time axis, the other axis is the high and low of the economy, and a graph showing the business cycle cycle in a sinusoidal shape is displayed on the display unit, and the position corresponding to the current economic phase on the graph. By accepting the designated input that specifies, the computer is made to execute the process of accepting the input of the answer .

On one side, portfolio-based asset management can be favorably supported.

It is explanatory drawing which shows the configuration example of an operation system. It is a block diagram which shows the configuration example of a server. It is a block diagram which shows the configuration example of a terminal. It is explanatory drawing which shows an example of the record layout of a brand DB, a portfolio DB, a user DB, and an output table. It is explanatory drawing which shows an example of the business sentiment input screen. It is explanatory drawing which shows an example of a portfolio selection screen. It is a radar chart that conceptually shows the risk characteristics of a portfolio. It is explanatory drawing which shows an example of a portfolio display screen. It is explanatory drawing which shows the display screen example of operation information. It is explanatory drawing which shows an example of the operation performance report. It is explanatory drawing about a reference portfolio and an adjustment portfolio. It is explanatory drawing about the rebalancing of a reference portfolio and an adjustment portfolio. It is explanatory drawing about the rebalancing of the investment portfolio. It is explanatory drawing which shows the calculation method of the correlation coefficient. It is a flowchart which shows the processing procedure of the portfolio generation processing. It is a flowchart which shows the processing procedure of operation request processing. It is a flowchart which shows the processing procedure of a rebalancing process. It is explanatory drawing which shows an example of the hedge setting screen. It is explanatory drawing which shows the display screen example of the operation information which concerns on Embodiment 2. It is a flowchart which shows the procedure of a hedge setting process. It is a flowchart which shows the procedure of a risk hedging process.

Hereinafter, the present invention will be described in detail with reference to the drawings showing the embodiments thereof.
(Embodiment 1)
FIG. 1 is an explanatory diagram showing a configuration example of an operation system. In this embodiment, a portfolio is proposed according to the business sentiment answered by the user, and an operation system for managing the user's assets will be described. The operation system includes a portfolio generation server 1a, an order list generation server 1b, an order server 1c, terminals 2, 2, 2, .... Each device is communicatively connected to a network N such as the Internet.

The portfolio generation server 1a is an information processing device capable of transmitting and receiving various information processing and information, and is a server computer that generates a portfolio in which a plurality of transaction brands are combined. In the present embodiment, stocks are targeted as trading stocks, and the portfolio generation server 1a generates a plurality of patterns of portfolios according to risk characteristics, as described later, based on the information of each stock traded in the market. The trading issue to be managed is not limited to stocks, and may be other financial products such as receivables. The portfolio generation server 1a presents each generated portfolio to the user and accepts the selection of the portfolio for managing the asset.

The order list generation server 1b is a server computer that generates an order list for each trading issue included in the portfolio. The order list generation server 1b is generated by the portfolio generation server 1a, generates an order list for each issue according to the portfolio selected by the user, and outputs the order list to the order server 1c.

The ordering server 1c is a server computer that outputs an ordering request for each brand to an external financial transaction system (not shown) such as a securities company according to the ordering list generated by the ordering list generation server 1b. The ordering server 1c outputs an ordering request after collecting the ordering list of each user and distributes it to each user's account.

In addition, the term "ordering" in the present specification may include not only the case of purchasing a trading issue but also the case of selling a trading issue as in the case of rebalancing described later.

As described above, in this system, the portfolio generation server 1a, the order list generation server 1b, and the ordering server 1c generate a portfolio, generate an order list, and output an order request, respectively. It should be noted that one computer may perform all the processing, or four or more computers may cooperate to perform the processing. In the following description, for the sake of brevity, three server computers will be referred to as server 1, and one server computer will be described as performing a series of processes.

The terminal 2 is an information processing terminal of a user (customer) who uses this system, and is, for example, a smartphone, a personal computer, a tablet terminal, or the like. The terminal 2 displays each operation screen (see FIG. 5 and the like) described later, and accepts operation input such as portfolio selection.

As described above, the server 1 generates a portfolio in which a plurality of stocks are combined and presents it to the user, and accepts selection input of the portfolio that manages the user's assets. Here, the server 1 outputs a question asking about the current business sentiment when presenting the portfolio, and accepts an input of an answer about the current business sentiment from the user. The server 1 presents a plurality of patterns of portfolios as candidates according to the current business sentiment that has been answered, and accepts selection input of the portfolio that manages the user's assets. As a result, even a user who does not have specialized knowledge about asset management can easily start asset management by using business sentiment as a key.

FIG. 2 is a block diagram showing a configuration example of the server 1. The server 1 includes a control unit 11, a main storage unit 12, a communication unit 13, and an auxiliary storage unit 14.
The control unit 11 has one or more CPUs (Central Processing Units), MPUs (Micro-Processing Units), GPUs (Graphics Processing Units) and other arithmetic processing units, and stores the program P1 stored in the auxiliary storage unit 14. By reading and executing, various information processing, control processing, etc. are performed. The main storage unit 12 is a temporary storage area for SRAM (Static Random Access Memory), DRAM (Dynamic Random Access Memory), flash memory, etc., and temporarily stores data necessary for the control unit 11 to execute arithmetic processing. Remember. The communication unit 13 is a communication module for performing processing related to communication, and transmits / receives information to / from the outside.

The auxiliary storage unit 14 is a non-volatile storage area such as a large-capacity memory or a hard disk, and stores the program P1 and other data necessary for the control unit 11 to execute processing. Further, the auxiliary storage unit 14 stores the brand DB 141, the portfolio DB 142, the user DB 143, and the output table 144. The brand DB 141 is a database that stores brand information of each brand to be operated. The portfolio DB 142 is a database that stores information on each portfolio generated based on stock information. The user DB 143 is a database that stores information of each user. The output table 144 is a table to be referred to when selecting a portfolio to be proposed (output) to the user according to the business sentiment answered by the user.

The auxiliary storage unit 14 may be an external storage device connected to the server 1. Further, the server 1 may be a multi-computer composed of a plurality of computers, or may be a virtual machine virtually constructed by software.

Further, in the present embodiment, the server 1 is not limited to the above configuration, and may include, for example, an input unit that accepts operation input, a display unit that displays an image, and the like. Further, the server 1 includes a reading unit that reads a portable storage medium 1 m such as a CD (Compact Disk) -ROM, a DVD (Digital Versatile Disc) -ROM, and reads and executes a program P1 from the portable storage medium 1 m. You can do it. Alternatively, the server 1 may read the program P1 from the semiconductor memory 1n.

FIG. 3 is a block diagram showing a configuration example of the terminal 2. The terminal 2 includes a control unit 21, a main storage unit 22, a communication unit 23, a display unit 24, an input unit 25, and an auxiliary storage unit 26.
The control unit 21 has one or a plurality of arithmetic processing units such as CPUs and MPUs, and performs various information processing, control processing, and the like by reading and executing the program P2 stored in the auxiliary storage unit 26. The main storage unit 22 is a temporary storage area such as a RAM, and temporarily stores data necessary for the control unit 21 to execute arithmetic processing. The communication unit 23 is a communication module for performing processing related to communication, and transmits / receives information to / from the outside. The display unit 24 is a display screen such as a liquid crystal display and displays an image. The input unit 25 is an operation interface such as a touch panel, and receives operation input from the user. The auxiliary storage unit 26 is a non-volatile storage area such as a hard disk and a large-capacity memory, and stores the program P2 and other data necessary for the control unit 21 to execute processing.

The terminal 2 may include a reading unit that reads a portable storage medium 2m such as a CD-ROM, and may read the program P2 from the portable storage medium 2m and execute the program P2. Alternatively, the terminal 2 may read the program P2 from the semiconductor memory 2n.

FIG. 4 is an explanatory diagram showing an example of the record layout of the brand DB 141, the portfolio DB 142, the user DB 143, and the output table 144. The brand DB 141 includes a brand ID column, a brand column, and a brand information column. The issue ID column stores an issue ID for identifying each transaction issue to be operated by this system. Each of the issue column and the issue information column stores the name of each issue and the issue information (stock price, etc.) in association with the issue ID.

The portfolio DB 142 includes a portfolio ID column, a portfolio name column, a description column, a risk characteristic column, and a composition ratio column. The portfolio ID column stores portfolio IDs for identifying a plurality of patterns of portfolios. The portfolio name column, description column, risk characteristic column, and composition ratio column are associated with the portfolio ID, respectively, and store the name, description, risk characteristics, and composition ratio of each stock.

The risk characteristics represent the market fluctuation risk of each trading issue included in the portfolio, and are defined by the index values (factor exposure, etc.) of each of the plurality of factors that are the fluctuation risk factors of the trading issue, as will be described later. For example, the risk characteristic column stores the numerical range that each index value should take, and each portfolio is generated so that each index value fits into a certain numerical range.

The user DB 143 includes a user ID column, a name column, an account column, a reserve amount column, and an operation information column. The user ID column stores a user ID for identifying each user. The name column, account column, reserve amount column, and operation information column are associated with the user ID, respectively, and the user's name, account information used for operation, reserve amount when performing a reserve investment trust, and information on the portfolio under operation. I remember. For example, in the investment information column, in addition to the type of portfolio under management (portfolio ID), investment amount, etc., the standard portfolio and adjustment portfolio (denoted as "unit" in Fig. 4), which will be described later, are included in each portfolio. The stocks held, the amount of money, the number of units, etc. are stored.

The output table 144 includes a number column, a business phase column, and an output portfolio column. The number string stores numbers for identifying a plurality of predetermined economic phases. The economic phase column and the output portfolio column store the contents of the economic phase and the ID of the portfolio to be output in association with the numbers, respectively.

FIGS. 5, 6, 8 and 9 are explanatory views showing an example of a screen displayed by the terminal 2. Hereinafter, an outline of the present embodiment will be described along with the display screen of the terminal 2.

FIG. 5 is an explanatory diagram showing an example of a business sentiment input screen. The business sentiment input screen is a screen for displaying a question asking the current business sentiment, and is a screen for accepting input of a user's answer to the question. First, the terminal 2 displays a question sentence on the business sentiment input screen illustrated in FIG. 5, and accepts an input of an answer from the user regarding the current business sentiment.

Specifically, the terminal 2 displays a graph 51 simulating a business cycle cycle, and accepts a designated input for designating a position corresponding to the current economic phase on the graph 51. Graph 51 is a graph showing a business cycle cycle in a sinusoidal manner, with one axis (horizontal axis) as the time axis and the other axis (vertical axis) as the high and low of the economy. For example, the graph 51 is divided into a plurality of regions (6 regions "1" to "6" in FIG. 5) along the time axis, and the user selects one of the regions. As a result, the user inputs the current economic phase, that is, business sentiment.

Further, the terminal 2 displays the response number graph 52 on the business sentiment input screen in a form corresponding to the graph 51. The number of responses graph 52 is a bar graph that aggregates the number of responses to business sentiment (business phase) by other users. The terminal 2 displays the number of responses of other users on the response number graph 52 in association with the position on the graph 51. Specifically, the terminal 2 displays the number of users who have selected each area in the answer number graph 52 so as to be located directly below each area divided along the time axis. As a result, the user can give an answer in consideration of the answer tendency of other users, that is, the business sentiment.

The number of responses graph 52 is not limited to a bar graph, and may be a line graph or a graph of other formats. Further, in the present embodiment, the number of responses of other users is displayed as a graph, but for example, the number of responses (numbers) of other users may be only displayed in association with the position on the graph 51. ..

FIG. 6 is an explanatory diagram showing an example of the portfolio selection screen. The portfolio selection screen is a screen that displays a plurality of patterns of portfolios according to the business sentiment answered by the user, and is a screen that accepts selection input of the portfolio to be managed. When the input of the answer is accepted on the business sentiment input screen, the terminal 2 transitions to the portfolio selection screen.

The server 1 generates a portfolio of a plurality of patterns according to the risk characteristics based on the stock information of each trading stock traded in the market and stores it in the portfolio DB 142. The server 1 responds to the user's answer to the question about business sentiment, and among the portfolios prepared (memorized) in advance in the portfolio DB 142, a plurality of patterns of portfolios are selected as portfolio selection candidates for managing the user's assets. Output to terminal 2.

Here, the portfolio generation process will be described. As described above, the server 1 generates a portfolio in which a plurality of stocks are combined based on the stock information. Specifically, the server 1 optimizes the composition ratio of each stock to be included in the portfolio based on the objective function shown in the following mathematical formula (1).

α _i is the annual expected excess return of the brand i, h _i is the excess weight of the brand i, λ is the predetermined risk aversion degree, and V _{i and j} are the covariance between the brand i and the brand j. The server 1 derives a holding weight (composition ratio) that maximizes the expected excess return and minimizes the risk of deviation from the stock index by the mathematical formula (1).

In the present embodiment, the server 1 generates a portfolio of a plurality of patterns according to the risk characteristics so that an appropriate portfolio can be presented according to each economic situation. For example, the server 1 calculates the index value of each of a plurality of elements that are the fluctuation risk factors of the trading stock, and generates each portfolio so that the index value of each element has the same balance as the target risk characteristic (strategy). ..

FIG. 7 is a radar chart conceptually showing the risk characteristics of the portfolio. FIG. 7 illustrates a radar chart showing index values for each of the plurality of elements for a portfolio of a plurality of patterns.

In the present embodiment, the server 1 generates 9 patterns of portfolios such as "high corporate value portfolio" and "financial sound high cash flow portfolio". In FIG. 7, only four patterns are shown. As shown in FIG. 7, the server 1 defines a plurality of elements such as "profitability" and "growth potential" as elements for evaluating fluctuation risk. In the radar chart of FIG. 7, there are only 10 elements, but in reality, dozens of elements are defined. The server 1 calculates an index value for evaluating the stock price fluctuation risk for each element based on the stock information. The index value is not particularly limited, but in the present embodiment, factor exposure (Factor Exposure) is adopted. Since the factor exposure is publicly known, detailed description thereof will be omitted in the present embodiment.

The server 1 calculates index values for each of the plurality of elements, and generates a portfolio of each pattern so that the balance of each index value is constant. That is, the server 1 sets a constraint condition in the formula (1) so that the index value of each element matches a certain numerical range predetermined for each risk characteristic so as to be substantially the same as the radar chart of FIG. Establish and optimize the composition ratio of stocks in each portfolio. The server 1 stores the optimized information of each portfolio (composition ratio of each issue included in the portfolio) in the portfolio DB 142.

When generating the portfolio of each pattern, the server 1 generates one reference portfolio and a plurality (for example, nine) adjusted portfolios as the portfolio of each pattern. That is, the server 1 generates a portfolio of 90 pieces (9 patterns × 10). The reference portfolio and the adjustment portfolio will be described in detail later.

The server 1 acquires stock information every predetermined period (for example, one month) and updates (regenerates) each portfolio. In this case, the server 1 is updated so as to maintain the same risk characteristics by calculating and optimizing the index value of each element in the same manner as described above.

When receiving a response from the user regarding the business sentiment, the server 1 outputs a portfolio of a plurality of patterns according to the user's response to the terminal 2. For example, as described in FIG. 4, in the output table 144, a plurality of patterns of output portfolios are defined for one option (economic phase) in association with each economic phase that can be specified on the business sentiment input screen. .. The server 1 outputs a portfolio of a plurality of patterns (for example, 2 to 4 patterns) corresponding to the economic phase selected by the user.

The explanation will be continued by returning to FIG. The portfolio selection screen includes a layout diagram 61. The layout diagram 61 is a diagram conceptually showing the risk characteristics of each portfolio output from the server 1. One axis (horizontal axis) is the high / low risk, and the other axis (vertical axis) is the high / low return. As a diagram, the objects corresponding to each portfolio are arranged. For example, the terminal 2 displays a rectangular area with a number as an object corresponding to each portfolio in the layout drawing 61. The position of each object on the layout drawing 61 is predetermined according to the type (risk characteristic) of each portfolio. The terminal 2 accepts a selection input for selecting any object from the layout drawing 61.

The terminal 2 displays a summary of each portfolio at the bottom of the screen in addition to the layout drawing 61. When an object is selected in the layout drawing 61, the terminal 2 changes the display mode (for example, display color) of the portfolio summary corresponding to the selected object. Note that FIG. 6 shows how the display color is changed by hatching for convenience. When the "Next" button is operated, the selection content is confirmed, and the terminal 2 transitions to the screen shown in FIG.

FIG. 8 is an explanatory diagram showing an example of the portfolio display screen. The portfolio display screen is a screen for displaying the details of the portfolio selected by the user, and is a screen for making an investment request based on the portfolio. The terminal 2 displays the details of the portfolio selected on the portfolio selection screen on the portfolio display screen. Specifically, as shown in FIG. 8, the terminal 2 displays the name of the selected portfolio, a radar chart showing risk characteristics, a description, investment results, constituent stocks, and the like.

When the "re-diagnose" button is operated on the portfolio display screen, the terminal 2 returns to the business sentiment input screen. In this case, the terminal 2 accepts the input of the answer about the business sentiment again, displays the portfolio of a plurality of patterns, and accepts the selection input.

Further, the terminal 2 receives an operation input for making an operation request on the portfolio display screen. For example, the terminal 2 accepts the setting input of the initial operation amount to be paid as the initial cost and / or the reserve amount for performing the reserve investment trust. When the reserve amount is input, the screen transitions to a screen (not shown), and the setting input of the financial institution used for withdrawal of the reserve amount, the withdrawal date, etc. is accepted. When the "buy" button is operated on the portfolio display screen, the terminal 2 outputs an operation request including the above setting contents to the server 1.

When the operation request is received from the terminal 2, the server 1 outputs the order request of each brand included in the portfolio selected by the user to the external financial transaction system. That is, the server 1 generates an order list showing the type of the brand to be ordered and the purchase amount according to the portfolio selected by the user, the set investment amount, and the like. The server 1 collectively outputs an order request for each user's order list on the available trading day and distributes it to each user's account.

In addition, although I want to exchange all the deposits deposited by the user for stocks, the contract price when purchasing stocks in the market is uncertain, so if I make an order request with the deposit limit full. There is a risk of shortfalls. Therefore, when the server 1 makes an order request, the server 1 places an order with a certain buffer. Specifically, the server 1 first outputs an order request for a certain percentage (for example, 90%) of the deposit from the user. Subsequently, the server 1 outputs an order request for a certain percentage of the balance on the next available trading day. The server 1 repeats the process until the balance becomes a certain amount (for example, 10,000 yen) or less. As a result, it is possible to avoid the occurrence of a shortfall.

By the above process, the user starts asset management based on the portfolio. As will be described later, the server 1 outputs order requests for two types of portfolios, the reference portfolio and the adjusted portfolio, and manages each portfolio separately in the user DB 143. The reference portfolio and adjusted portfolio will be described later.

The user can freely change the portfolio even during operation. In this case, the terminal 2 accepts the operation input of the portfolio change instruction on the portfolio display screen similar to FIG. 8, and accepts the portfolio selection input by the same process as FIGS. 6 and 7.

FIG. 9 is an explanatory diagram showing an example of an operation information display screen. FIGS. 9A to 9C show an example of a display screen on which information about the portfolio in operation can be browsed. As shown in FIGS. 9A to 9C, the terminal 2 displays a menu bar for switching the display screen at the lower part of the screen. When the "Home" tab is active in the menu bar, terminal 2 displays a graph showing the total amount of assets (stocks held) held by the user in chronological order, as shown in FIG. 9A. When the "Holding Stocks" tab is active in the menu bar, as shown in FIG. 9B, the terminal 2 has a pie chart showing the composition ratio of the portfolio (the ratio of each stock held by the user) and each stock. A list of the amount and composition ratio of is displayed. When the "Strategy" tab is active in the menu bar, as shown in FIG. 9C, the terminal 2 displays the details of the portfolio in operation (portfolio name, radar chart of risk characteristics, etc.) as in FIG. indicate. Although not shown, when the "History" tab is active in the menu bar, the terminal 2 transitions to a screen not shown, and the portfolio operation history (portfolio change history, deposit / withdrawal history, etc.), And the transaction history (contract price, etc.) of each issue is displayed.

FIG. 10 is an explanatory diagram showing an example of an operation performance report. The terminal 2 displays the link 91 for outputting the operation performance report on the screen of FIG. 9C. When the operation input to the link 91 is accepted, the server 1 outputs the operation performance report shown in FIG. 10 to the terminal 2. The investment performance report is a document file showing the investment performance of the portfolio under operation, and is created by, for example, the operator of this system. As shown in Fig. 10, the investment performance report describes the income (return), constituents, risk characteristic radar chart, rate of return and risk analysis results obtained from portfolio management in the form of graphs, tables, etc. Has been done.

As described above, the user starts operation, and information about the portfolio being operated is reported to the user. After the start of operation, Server 1 periodically rebalances the reference portfolio and the adjusted portfolio, and updates the portfolio under operation, as follows.

FIG. 11 is an explanatory diagram relating to the reference portfolio and the adjusted portfolio. As already mentioned, in this embodiment, the user's assets are managed by dividing them into a reference portfolio and an adjusted portfolio. The reference portfolio and the adjusted portfolio are portfolios in which the portfolio selected by the user is subdivided according to the investment amount. By managing the portfolio separately from the standard portfolio and the adjusted portfolio, it is possible to provide merchandise that is close to that of an investment trust, even though it is a physical stock.

The standard portfolio is a portfolio in which a predetermined standard amount (for example, 100,000 yen) is used as an investment amount and the standard amount is distributed to a plurality of stocks. The adjustment portfolio is adjusted using an adjustment amount (for example, 110,000 yen, 120,000 yen, 130,000 yen, etc., which is 100,000 yen plus 10,000 yen) that differs by a predetermined amount (for example, 10,000 yen) from the standard amount. It is a portfolio in which the amount is distributed to multiple stocks. A plurality of types (9 types in the example of FIG. 11) are prepared according to the step size of the amount to be added to the reference amount. The base portfolio and the adjusted portfolio have the same risk characteristics, and the composition ratio of trading stocks in each portfolio is almost the same.

At the start of operation, the server 1 constructs a portfolio divided into a reference portfolio and an adjusted portfolio according to the investment amount (initial investment amount) that the user allocates to asset management, and starts investment. That is, the server 1 divides the investment amount into one or more standard amounts and one adjustment amount, and requests to place an order for one or more standard portfolios and one adjustment portfolio corresponding to the standard amount and the adjustment amount, respectively. Is output. For example, if the user's investment amount is 1.13 million yen, the server 1 requests to place an order for nine standard portfolios that operate with the standard amount of 100,000 yen and one adjustment portfolio that operates with the adjustment amount of 130,000 yen. Is output.

FIG. 12 is an explanatory diagram regarding the rebalancing of the reference portfolio and the adjusted portfolio. FIG. 12 illustrates how the reference portfolio and the adjusted portfolio are reconstructed (rebalanced) according to the investment amount at predetermined period (1 month). Server 1 calculates the user's investment amount (total amount of stocks held. In the case of a funded investment trust, the amount obtained by adding the monthly funded amount) from the stock information, and subdivides it into the standard amount and the adjustment amount. Rebuild the base and adjustment portfolios.

FIG. 12 illustrates how the initial operation amount is set to 300,000 yen and the operation is started. To explain an example, if the operating amount becomes 360,000 yen one month later, the server 1 divides it into a standard amount of 100,000 yen × 2 and an adjustment amount of 160,000 yen. On the other hand, if the operating amount reaches 240,000 yen one month later, the server 1 divides it into a standard amount of 100,000 yen and an adjustment amount of 140,000 yen. The server 1 reconstructs the reference portfolio and the adjustment portfolio corresponding to the divided reference amount and adjustment amount, respectively, and stores the data in the user DB 143. After that, the server 1 similarly calculates the investment amount at predetermined period and reconstructs the reference portfolio and the adjustment portfolio.

By dividing the portfolio to be managed into a standard portfolio and an adjusted portfolio, many benefits can be obtained. Specifically, it is possible to handle all accounts of the same strategy only by managing the standard portfolio without optimizing the portfolio for each account (user), and portfolio optimization is a strategy even if the number of accounts increases enormously. Only the number of times proportional to the number (9 patterns x 10 = 90 times) is required. In addition, it is only necessary to create a management performance report using the standard portfolio. In addition, even though it is a portfolio of physical stocks, it is possible to save in units of 10,000 yen.

In addition, since the unit stock system (a system that sets the minimum number required for one stock trading) is adopted in Japan, it is difficult to build a portfolio without preparing a large amount of assets under management, but with this system, each user Since the stocks necessary for constructing the portfolio of stocks are ordered together and distributed to each user, it is possible to provide merchandise close to that of an investment trust even though it is a physical stock.

FIG. 13 is an explanatory diagram regarding the rebalancing of the investment portfolio. FIG. 13 conceptually illustrates how the portfolio being managed by the user is rebalanced at regular intervals (for example, 3 months).

As described above, the server 1 updates the portfolio (reference portfolio and adjustment portfolio) prepared (stored) in the portfolio DB 142 at predetermined period (1 month) based on the stock information. The upper part of FIG. 13 illustrates how the reference portfolio is updated monthly so that the index values of the plurality of elements are constant, and the balance of risk characteristics is maintained.

Furthermore, the server 1 compares the standard portfolio being managed by the user with the standard portfolio after updating at regular intervals (3 months) different from the update interval of the portfolio DB 142, and whether or not the portfolio being managed should be rebalanced. Is determined. In this embodiment, the update interval of the portfolio DB 142 and the update interval of the investment portfolio will be described as different, but the intervals between the two may be the same. The server 1 calculates the correlation coefficient between the operating reference portfolio and the updated reference portfolio, and determines that the correlation coefficient should be rebalanced if it is equal to or less than a predetermined threshold value (for example, 0.9). ..

The lower part of FIG. 13 shows how the portfolio under management is updated every three months. As shown in FIG. 13, in "March" and "June", the risk characteristics of the reference portfolio being managed by the user are out of balance as compared with the reference portfolio updated every month. In this case, the server 1 determines that the portfolio in operation should be rebalanced, and rebalances the portfolio so that it becomes the same as the updated portfolio.

FIG. 14 is an explanatory diagram showing a method of calculating the correlation coefficient. In the present embodiment, two types of correlation coefficients, a first correlation coefficient and a second correlation coefficient, are calculated as the correlation coefficient. If the first or second correlation coefficient is less than the threshold value, the server 1 determines that rebalancing should be performed.

For example, as shown in FIG. 14A, the server 1 calculates the first correlation coefficient based on the index value (factor exposure) of each of the above-mentioned elements. That is, the server 1 calculates the index value of each element for the standard portfolio in operation and the standard portfolio after update, and calculates the correlation coefficient from the index value of each element of both. As a result, the server 1 determines whether or not the risk characteristics of both are sufficiently approximated.

Further, as shown in FIG. 14B, the server 1 calculates the second correlation coefficient based on the performance value for evaluating the profitability of each portfolio. That is, the server 1 calculates the performance value of the reference portfolio in operation and the performance value of the updated reference portfolio, respectively, and calculates the correlation coefficient from the performance values of both. The method for calculating the performance value is not particularly limited, but for example, the server 1 calculates the performance value in accordance with the global investment performance standard. As a result, the server 1 determines whether or not the performances of the two are sufficiently approximated.

The server 1 determines whether or not the correlation coefficient is less than the threshold value for each of the first and second correlation coefficients. When the first or second correlation coefficient is less than the threshold value, the server 1 rebalances the portfolio in operation by the user. That is, the server 1 outputs an order request for purchasing or selling the trading issue held by the user so that the portfolio under operation matches the composition ratio of each issue with the updated portfolio. As described above, by performing rebalancing based on the first and second correlation coefficients, the number of rebalancings incurring transaction fees is suppressed, and the portfolio being managed by the user is maintained in an appropriate state. can do.

FIG. 15 is a flowchart showing a processing procedure of the portfolio generation processing. Based on FIG. 15, the processing content when the server 1 generates the portfolio will be described.
For example, the server 1 executes the following processing every predetermined period (for example, one month). The server 1 acquires the issue information of a plurality of transaction issues from the issue DB 141 (step S11). The server 1 calculates the index value of each of the plurality of elements that are the fluctuation risk factors of the trading issue based on the issue information (step S12).

The server 1 generates a portfolio of a plurality of patterns corresponding to each of the plurality of risk characteristics based on the calculated index value of each element (step S13). Specifically, as described above, the server 1 generates a portfolio optimized so that each index value takes a certain numerical range for each risk characteristic. In this case, the server 1 generates a reference portfolio in which the reference amount is distributed to a plurality of issues and an adjustment portfolio in which an adjustment amount different from the reference amount by a predetermined amount is allocated to a plurality of issues per pattern. The server 1 stores the generated information of each portfolio in the portfolio DB 142 (step S14), and ends a series of processes.

FIG. 16 is a flowchart showing a processing procedure of the operation request processing. Based on FIG. 16, the processing content when the user requests the operation will be described.
The terminal 2 displays a business sentiment input screen asking the user about the current business sentiment (step S31). Specifically, as described above, the terminal 2 displays a graph 51 showing the business cycle cycle in a sinusoidal shape on the business sentiment input screen. The terminal 2 receives an input of an answer regarding the business sentiment on the business sentiment input screen (step S32). Specifically, the terminal 2 accepts a designated input for designating a position (region) corresponding to the current economic phase on the graph 51.

The terminal 2 transitions to the portfolio selection screen and displays a portfolio of a plurality of patterns according to the user's answer (step S33). Specifically, in the terminal 2, one axis (horizontal axis) is the high and low risk, and the other axis (vertical axis) is the high and low return, and the objects corresponding to each portfolio are arranged according to the risk characteristics. FIG. 61 is displayed. The terminal 2 accepts a selection input for selecting one from the displayed portfolios of a plurality of patterns (step S34). Specifically, the terminal 2 accepts a selection input for selecting any object from the layout drawing 61. The terminal 2 transitions to the portfolio display screen and displays the details of the selected portfolio (step S35).

The terminal 2 determines whether or not to reselect the portfolio in response to the operation input from the user (step S36). When it is determined to perform reselection (S36: YES), the terminal 2 returns the process to step S31. When it is determined that reselection is not performed (S36: NO), the terminal 2 accepts setting inputs such as an operation amount and a reserve amount (step S37).

The terminal 2 determines whether or not to confirm the operation content in response to the operation input from the user (step S38). If it is determined that the determination is not made (S38: NO), the terminal 2 returns the process to step S36. When it is determined to be confirmed (S38: YES), the terminal 2 outputs an operation request based on the selected portfolio to the server 1 (step S39).

When the operation request is received from the terminal 2, the server 1 divides the operation amount of the user into one or a plurality of reference amounts and one adjustment amount (step S40). The server 1 outputs an order request for one or more reference portfolios corresponding to the reference amount and the adjustment amount, and one adjustment portfolio (step S41), and ends a series of processing.

FIG. 17 is a flowchart showing a processing procedure of the rebalancing process. Based on FIG. 17, the processing contents when rebalancing the portfolio will be described.
For example, the server 1 executes the following processing every predetermined period (for example, one month). The server 1 calculates the user's investment amount (total amount of owned stocks) based on the current stock information of each stock (step S51). The server 1 divides the calculated operation amount into one or a plurality of reference amounts and one adjustment amount (step S52).

The server 1 determines whether or not a certain period (for example, 3 months) has elapsed since the last rebalancing of the portfolio being operated by the user (step S53). When it is determined that a certain period has not elapsed (S53: NO), the server 1 reconstructs the reference portfolio and the adjustment portfolio corresponding to the reference amount and the adjustment amount, respectively, and stores the data in the user DB 143 (step S54). ).

When it is determined that a certain period has passed (S53: YES), the server 1 calculates the correlation coefficient between the portfolio in operation (reference portfolio) and the portfolio updated every predetermined period (1 month) (step). S55). Specifically, the server 1 calculates a first correlation coefficient based on the index values of the plurality of elements described above and a second correlation coefficient based on the performance value of the portfolio.

The server 1 determines whether or not the correlation coefficient is equal to or less than the threshold value (step S56). Specifically, the server 1 determines whether or not the first or second correlation coefficient is equal to or less than the threshold value. When it is determined that the value is not equal to or less than the threshold value (S56: NO), the server 1 ends a series of processes. If it is determined that the value is below the threshold value (S56: YES), the server 1 outputs an order request for purchasing or selling the trading stock held by the user so that the portfolio in operation matches the updated portfolio. (Step S57). In this case, the server 1 outputs an order request for the reference portfolio corresponding to the reference amount divided in step S52 and the adjustment portfolio corresponding to the adjustment amount. Server 1 ends a series of processes.

From the above, according to the present embodiment, it is possible to propose and manage a portfolio according to business sentiment to the user.

Further, according to the present embodiment, the user can easily answer by designating the current economic phase from the graph 51 simulating the business cycle cycle.

Further, according to the present embodiment, by displaying the number of responses of each user on the number of responses graph 52 in a form corresponding to the position of the graph 51, the user responds in consideration of the response tendency of other users. Can be done.

Further, according to the present embodiment, the user can easily select the portfolio by selecting the portfolio from the layout diagram 61 in which the objects are arranged according to the risk characteristics of each portfolio.

Further, according to the present embodiment, by managing the portfolio separately for the reference portfolio and the adjusted portfolio, it is possible to obtain many merits such as the number of times of portfolio optimization can be suppressed.

Further, according to the present embodiment, it is possible to suitably generate a portfolio of a plurality of patterns corresponding to a plurality of risk characteristics (strategies) based on the index values of each of the plurality of factors that are the fluctuation risk factors of the trading stock. ..

Further, according to the present embodiment, the rebalancing (renewal) of the portfolio under management is preferably performed by calculating the correlation coefficient between the portfolio under management by the user and the portfolio updated at predetermined intervals. It can be carried out. In particular, in the present embodiment, rebalancing can be performed in consideration of both risk characteristics (balance of a plurality of index values) and performance.

(Embodiment 2)
In the first embodiment, a form of managing a portfolio composed of a plurality of trading stocks has been described. In this embodiment, a form in which the user provides an option to hedge the risk of price decline of the portfolio by margin trading with the portfolio under management as collateral will be described. The contents overlapping with the first embodiment are designated by the same reference numerals and the description thereof will be omitted.

FIG. 18 is an explanatory diagram showing an example of a hedge setting screen. FIG. 18 is a display screen of the terminal 2 and shows a setting screen for setting a risk hedging option. In the present embodiment, the server 1 provides a risk hedging option for buying and selling (managing) a specific financial product by margin trading with the holdings constituting the portfolio under management as collateral. Specifically, as will be described later, the server 1 provides a risk hedging option by buying and selling an inverse type ETF (Exchange Traded Fund) in order to deal with the risk of price decline in the entire market.

The hedge setting screen includes a schematic diagram 181 and a button 182, a distribution diagram 183, and a contrast graph 184.

Schematic diagram 181 is an object for setting the hedging ratio to the investment amount of the portfolio under investment. Specifically, FIG. 181 is an object showing the degree of return with respect to risk, with the horizontal axis (one axis) as the high and low of the risk and the vertical axis (the other axis) as the high and low of the return. Schematic diagram 181 shows that the risk is higher and the return is higher toward the right side.

The hedge ratio refers to the ratio of the investment amount for risk hedging to the investment amount of the portfolio (total amount of constituent stocks), and in the present embodiment, it refers to the ratio of the investment amount of the inverse type ETF to the investment amount of the portfolio.

The terminal 2 accepts the setting input of the hedge ratio by accepting the operation input for designating the position on the schematic diagram 181. Specifically, the terminal 2 accepts a tap operation with respect to the schematic diagram 181. The terminal 2 causes the icon 1811 to appear according to the tapped position and presents the hedging ratio to the user.

In the present embodiment, the options of "0%", "30%", "50%", "80%", and "100%" are prepared as the values (ratio) that can be set as the hedging ratio. Each value corresponds to "maximum relaxation", "large relaxation", ... "no relaxation" in the figure. The terminal 2 displays the icon 1811 at the position of the option closest to the tapped position.

In the present embodiment, the hedge ratio is selected from a plurality of options, but the value of the hedge ratio may be continuously set according to the operation position (tapped position) on the schematic diagram 181. ..

The button 182 is a radio button for setting a period for performing risk hedging. As shown in FIG. 18, the terminal 2 displays a plurality of periods (“1 month”, “3 months”, and “6 months”) as a hedging period, and the hedging period is changed according to an operation input to the button 182. Accepts setting input. In addition, the terminal 2 may accept the numerical input of a specific period (deadline) as well as the hedge ratio.

The terminal 2 outputs a second operation request for hedging the risk of the portfolio under operation according to the setting contents in the schematic diagram 181 and the button 182. When the second investment request is received, the server 1 manages a financial product different from the constituent stocks of the portfolio, specifically, an inverse type ETF designed to move in the opposite price to the constituent stocks (stocks). I do.

Here, the risk hedging option according to the present embodiment will be described. As described in the first embodiment, the server 1 manages the assets of the user by constructing a portfolio composed of a plurality of stocks. Diversify the risk of price drops by diversifying user assets into multiple stocks.

On the other hand, if the market as a whole falls, there is a high possibility that the assets held by users (stocks held) will also fall simply by building a portfolio. Therefore, in this embodiment, risk hedging is performed by simultaneously managing financial products that are different from the holding stocks that make up the portfolio and that have different price movements from the holding stocks.

Specifically, the server 1 operates an inverse type ETF. An inverse ETF is an ETF linked to an inverse index that fluctuates in the opposite direction to the market index (Nikkei Stock Average, Tokyo Stock Price Index, etc.) that represents the price movement of the entire market. For example, the server 1 treats an ETF linked to an inverse index obtained by multiplying the Nikkei Stock Average by a predetermined negative coefficient as a financial product for risk hedging.

In the present embodiment, an inverse type ETF is mentioned as a financial product for risk hedging, but the target financial product is not limited to the ETF. The financial product may be another financial product having a price movement different from that of the constituent stocks of the portfolio, and is not limited to a product having a price movement completely opposite to that of the constituent stocks (stocks). In addition, the financial product to be managed for risk hedging may be selectable by the user.

The server 1 buys and sells the inverse type ETF by outputting an order request for purchasing or selling the inverse type ETF to an external organization (for example, an investment trust company) that sells the inverse type ETF. Here, the server 1 does not request the user for additional funds for ETF operation, but buys and sells inverse type ETFs by margin trading with the constituent stocks of the portfolio under operation as collateral. This makes it possible to hedge, which originally requires additional funds, without additional funds.

The server 1 buys and sells the inverse type ETF so that the operation amount of the inverse type ETF becomes the hedge ratio set on the same screen during the hedging period set on the hedge setting screen. Specifically, the server 1 calculates the ratio between the investment amount of the portfolio and the investment amount of the inverse type ETF at regular intervals, and purchases or sells the inverse type ETF so that the ratio becomes the hedge ratio.

In addition, "to be a hedge ratio" means that it matches the hedge ratio (ratio) set by the user or falls within a predetermined numerical range from the set hedge ratio. In the present embodiment, it refers to the latter meaning, and the server 1 determines whether or not it is within a predetermined numerical range (hereinafter referred to as “range”) from the hedge ratio set by the user at regular intervals, and inverses. Buy and sell type ETFs.

Specifically, the server 1 sets a range (for example, 90 to 110%, 70 to 90%, 40 to 60% ...) corresponding to each option (100%, 80%, 50% ...) of the above-mentioned hedge ratio. It stipulates. For example, the server 1 determines daily whether the ratio of the inverse ETF to the portfolio is within the range corresponding to the set hedge ratio. When it is within the range, the server 1 does not perform any special operation. On the other hand, if it is not within the range, the server 1 performs an operation of purchasing or selling an inverse type ETF.

In this embodiment, the hedging ratio is set by the user, but the hedging ratio may be automatically set on the system side (server 1). That is, the server 1 only needs to be able to buy and sell inverse type ETFs so as to have a predetermined hedge ratio, and the hedge ratio is not limited to that set by the user.

Specifically, if the ratio of inverse ETFs to the portfolio exceeds the upper limit of the range, the server 1 sells open ETFs so that the ratio falls within the range. If the ratio is less than the lower limit of the range, the server 1 purchases the inverse ETF with credit so that it falls within the range. The server 1 calculates the required trading volume according to the operating amount of the inverse type ETF at the time of determination (on the day), and trades so as to be within the range.

If the ratio of the inverse type ETF to the portfolio exceeds the upper limit of the range and the inverse type ETF is sold, the server 1 additionally purchases the portfolio under management with the surplus funds obtained from the sale the next day. That is, the server 1 outputs an order request for each constituent stock according to the allocation defined in the portfolio. On the other hand, if it is less than the range, the portfolio is not purchased and the operation is not performed.

If the market as a whole has a downward trend, it is highly likely that the constituent stocks of the portfolio have also fallen as a whole, as mentioned above. Therefore, when the price declines, it is possible to purchase the portfolio at a low purchase price and hedge while increasing the assets held. On the other hand, when the price rises, it is possible to purchase inverse ETFs at a low purchase price and hedge while increasing the assets held.

The explanation will be continued by returning to FIG. The distribution map 183 is a distribution map of the hedging ratio and the hedging period set by another user. In the distribution map 183, the horizontal axis represents the hedging period and the vertical axis represents the hedging ratio. For example, the terminal 2 displays the set number of each hedging period and each hedging ratio in a heat map according to the setting contents of each user. In FIG. 18, for convenience, the state of being displayed in a heat map is shown by hatching. The user can set the hedging ratio and the hedging period with reference to the distribution map 183.

The contrast graph 184 is a graph showing the transition of the investment amount when investing only in the portfolio (operation chart) and the transition of the investment amount when the portfolio is combined with the investment of the inverse type ETF. Specifically, the comparison graph 184 is a graph showing the investment performance of the past predetermined period (for example, 3 years), and is a graph showing the investment performance of the portfolio only, the case of combining the risk hedging by the inverse type ETF, and the ordinary deposit of the predetermined interest rate. It is a graph of the actual investment amount of each case. In the contrast graph 184, the horizontal axis (one axis) represents the time axis, and the vertical axis (the other axis) represents the investment amount.

For example, in the terminal 2, the transition of the investment profit when the portfolio being managed (selected) by the user is managed at a predetermined amount and the transition of the interest when the same amount of funds are used as a savings deposit at a predetermined interest rate are shown in the comparison graph 184. indicate. The amount of money as a reference in the comparison graph 184 of FIG. 18 is the default amount specified by the server 1, but it may be variable according to the operation amount of the user.

Further, when the terminal 2 accepts the designated input of the position on the schematic diagram 181, the total value obtained by adding the investment profit when operating the inverse type ETF at the hedge ratio corresponding to the designated position to the investment profit of the portfolio. The transition is displayed in the comparison graph 184. That is, the terminal 2 displays the transition of the investment profit when the risk hedging option is used in the comparison graph 184 in conjunction with the position of the icon 1811 in the schematic diagram 181. As a result, the user can suitably grasp the change according to the hedging ratio. The server 1 calculates the investment profits for the portfolio only and when the inverse ETFs are combined from the stock information for a certain period in the past, and displays them in the comparison graph 184.

When the "change" button at the bottom of FIG. 18 is operated, the terminal 2 outputs a second operation request for hedging the risk of the portfolio under operation to the server 1. That is, the server 1 outputs an operation request for buying and selling an inverse type ETF at regular intervals so that the investment amount of the inverse type ETF becomes a hedge ratio by margin trading using the constituent stocks of the portfolio under management as collateral. The server 1 stores the hedge ratio and the hedge period set on the hedge setting screen in the user DB 143 in association with the user ID. During the hedging period, the server 1 determines at regular intervals whether or not the ratio of the investment amount of the inverse ETF to the investment amount of the portfolio is the hedge ratio (whether or not it is within the range). If it is not a hedge ratio, the server 1 outputs an order request for purchasing or selling an inverse ETF.

FIG. 19 is an explanatory diagram showing an example of a display screen of operation information according to the second embodiment. For example, terminal 2 displays the screen shown in FIG. 19 when the "strategy" tab is active in the new bar. For example, the terminal 2 is a pie that represents the investment amount of the portfolio (total amount of physical assets Co., Ltd.) and the investment amount of inverse ETF (open interest amount) when the text of "hedge composition" is operated on the screen. Display graph 191. Further, the terminal 2 displays a list 192 showing the current amount of each of the portfolio and the inverse type ETF (and cash), the fluctuation amount, and the like, and presents the list to the user. From the screen, the user can confirm each investment amount and its ratio.

As shown in FIG. 18, the operation of the above-mentioned risk hedging option, that is, the inverse type ETF, can be terminated (stopped) at any time according to the user operation. Since it is beneficial to perform risk hedging when the market as a whole falls, it is desirable for users to start risk hedging when it approaches a downturn and end when it starts to rise.

Therefore, the server 1 may recommend to the user the timing of starting and ending the risk hedging. For example, the server 1 periodically outputs a question asking the user about the business sentiment to the terminal 2, and starts or ends the risk hedging according to the answer to the question, as in the business sentiment input screen of FIG. You may recommend it to the user.

For example, the server 1 periodically displays a graph 51 simulating a business cycle cycle on the terminal 2, and receives a selection input of the current business sentiment from the user. The server 1 outputs a notification prompting the start or end of the operation of the inverse type ETF to the terminal 2 according to the selected business sentiment. That is, when the business sentiment selected by the user is in the decline start phase, the server 1 outputs a notification urging the start of operation. When the business sentiment selected by the user is in the rising start phase, the server 1 outputs a notification prompting the end of operation. For example, the terminal 2 transitions to the hedge setting screen in response to the operation input for the notification, and accepts the setting input for starting or ending the operation of the inverse type ETF. Thereby, the user can be suitably guided.

FIG. 20 is a flowchart showing the procedure of the hedge setting process. A process for setting a portfolio hedge will be described with reference to FIG. 20.
The control unit 21 of the terminal 2 displays a hedge setting screen for setting a risk hedging option of the portfolio on the display unit 24 (step S201). Specifically, the control unit 21 has a schematic diagram 181 for setting the hedge ratio, a button 182 for setting the hedge period, and a distribution diagram 183 showing the distribution of the hedge ratio and the hedge period set by other users. Includes a comparison graph 184, etc. showing changes in the investment amount of the portfolio alone and changes in the investment amount combining risk hedging options.

The control unit 21 receives an operation input for designating a position on the schematic diagram 181 in which one axis (horizontal axis) is the high or low risk and the other axis (vertical axis) is the high or low return. Accept the setting input (step S202). When the input for setting the hedge ratio is accepted, the control unit 21 reverses the transition of the investment amount of the portfolio only and the investment amount when the risk hedging option is combined with the portfolio so as to be the set hedge ratio. A comparison graph 184 showing the transition of the investment amount when the type ETF is operated is displayed (step S203). The control unit 21 accepts a setting input for the hedging period (step S204).

The control unit 21 outputs a second operation request for hedging the risk of the portfolio under operation to the server 1 (step S205). Specifically, the control unit 21 makes the investment amount of the financial product to the investment amount of the portfolio the hedge ratio set in step S202 by margin trading using the stocks that make up the portfolio under investment as collateral. , Outputs a second investment request to buy and sell the financial product different from the stock held at regular intervals. As described above, the financial product is a financial product designed to move in the opposite direction to the stock (stock) held, for example, an inverse type ETF. The control unit 21 ends a series of processes.

FIG. 21 is a flowchart showing the procedure of risk hedging processing. Based on FIG. 21, the processing content of the server 1 related to the risk hedging option will be described.
The control unit 11 of the server 1 executes the following processing at regular intervals. The control unit 11 calculates the investment amount of the portfolio of the user under management (total amount of stocks held) and the investment amount of the inverse type ETF (step S221). The control unit 21 calculates the ratio of the investment amount of the inverse type ETF to the investment amount of the portfolio (step S222).

The control unit 21 determines whether or not the calculated ratio exceeds the range (numerical range) corresponding to the hedge ratio set by the user (step S223). When it is determined that the range is exceeded (S223: YES), the control unit 21 outputs an order request for selling the excess inverse type ETF (step S224). Further, the control unit 21 outputs an order request for additionally purchasing the constituent stocks of the portfolio in the quantity corresponding to the gain on sale (step S225).

When it is determined that the range is not exceeded (S223: NO), the control unit 21 determines whether or not the ratio of the investment amount is less than the range (step S226). If it is determined that the ETF is below the range (S226: YES), the control unit 21 outputs an order request for purchasing the inverse type ETF so that the ratio of the investment amount is within the range (step S227). After executing NO or the processing of steps S225 and S227 in step S226, the control unit 21 ends a series of processing.

From the above, according to the present embodiment, the risk hedging of the portfolio can be suitably performed without additional funds.

The embodiments disclosed this time should be considered to be exemplary in all respects and not restrictive. The scope of the present invention is indicated by the scope of claims, not the above-mentioned meaning, and is intended to include all modifications within the meaning and scope equivalent to the scope of claims.

1 Server (information processing device)
1a Portfolio generation server 1b Order list generation server 1c Order server 11 Control unit 12 Main storage unit 13 Communication unit 14 Auxiliary storage unit P1 Program 141 Brand DB
142 Portfolio DB
143 User DB
144 Output table 2 Terminal 21 Control unit 22 Main storage unit 23 Communication unit 24 Display unit 25 Input unit 26 Auxiliary storage unit P2 program

Claims (16)

A question asking the current business sentiment is displayed on the display,
Accepting the input of the answer to the above question from the user,
A portfolio that is a combination of a plurality of trading stocks traded in the market, and a portfolio of a plurality of patterns corresponding to the answers is displayed on the display unit.
Accepts selection input to select a portfolio that manages the user's assets from the portfolios of multiple patterns.
Output the investment request based on the selected portfolio,
A graph showing the business cycle cycle in a sinusoidal manner is displayed on the display unit, with one axis as the time axis and the other axis as the high and low of the economy.
By accepting the designated input that specifies the position corresponding to the current economic situation on the graph, the input of the answer is accepted.
A program that causes a computer to perform processing. The program according to claim 1 , which displays the number of responses to the economic phase that other users have answered in association with the position on the graph. A question asking the current business sentiment is displayed on the display,
Accepting the input of the answer to the above question from the user,
A portfolio that is a combination of a plurality of trading stocks traded in the market, and a portfolio of a plurality of patterns corresponding to the answers is displayed on the display unit.
Accepts selection input to select a portfolio that manages the user's assets from the portfolios of multiple patterns.
Output the investment request based on the selected portfolio,
A schematic diagram showing the degree of return to risk is displayed, with one axis as the high and low risk and the other axis as the high and low return.
By accepting the designated input of the position on the schematic diagram, the setting input of the hedge ratio to the investment amount of the portfolio is accepted.
By margin trading with the holdings that make up the portfolio under management as collateral, financial products different from the holdings are bought and sold so that the ratio of the investment amount of the financial product to the investment amount of the portfolio becomes the hedge ratio. A program that causes a computer to execute the process of outputting the second operation request . When the designated input of the position on the schematic diagram is accepted, the transition of the investment amount of the portfolio and the transition of the investment amount of the portfolio plus the financial instrument, and the hedge ratio according to the designated position. The program according to claim 3 , which displays a comparison graph showing the transition of the investment amount when the financial product is bought and sold in. A layout diagram in which a plurality of objects corresponding to the portfolios having a plurality of patterns according to the answers are arranged with one axis as the high / low risk and the other axis as the high / low return is displayed on the display unit.
The program according to any one of claims 1 to 4 , which accepts a selection input of the portfolio by accepting a selection input for selecting the object arranged in the layout drawing. An acquisition department that acquires stock information of multiple trading stocks traded in the market,
A generator that generates multiple patterns of portfolios that are a combination of multiple trading stocks based on the stock information.
The first output section that outputs questions asking the current business sentiment,
The first reception unit that accepts the input of the user's answer to the question,
A second output unit that outputs a plurality of patterns of the portfolio according to the answer, and
A second reception unit that accepts selection input to select a portfolio that manages the user's assets from the output portfolios of a plurality of patterns.
It has an ordering unit that outputs order requests for multiple trading stocks included in the selected portfolio .
The generation unit generates a reference portfolio in which a predetermined reference amount is distributed to a plurality of issues per pattern, and a plurality of adjustment portfolios in which an adjustment amount different from the reference amount by a predetermined amount is allocated to a plurality of issues.
The ordering unit outputs an order request for one or more of the reference portfolios and one of the adjusted portfolios according to the investment amount that the user allocates to asset management.
Information processing equipment. The information processing apparatus according to claim 6 , further comprising a third output unit that outputs a document file showing the operation results of the reference portfolio in response to a request from the user. An acquisition department that acquires stock information of multiple trading stocks traded in the market,
A generator that generates multiple patterns of portfolios that are a combination of multiple trading stocks based on the stock information.
The first output section that outputs questions asking the current business sentiment,
The first reception unit that accepts the input of the user's answer to the question,
A second output unit that outputs a plurality of patterns of the portfolio according to the answer, and
A second reception unit that accepts selection input to select a portfolio that manages the user's assets from the output portfolios of a plurality of patterns.
An ordering unit that outputs order requests for multiple trading stocks included in the selected portfolio, and
By margin trading with the holdings that make up the portfolio under management as collateral, the financial products that are different from the holdings are traded so that the ratio of the investment amount of the financial product to the investment amount of the portfolio becomes the predetermined hedge ratio. The third reception unit that accepts operation requests to buy and sell from the user,
When the operation request is accepted, a determination unit for determining whether or not the ratio matches the hedge ratio or is within a certain numerical range from the hedge ratio.
Equipped with
If it is determined that the hedge ratio does not match or does not fall within the numerical range, the ordering department places an order to purchase or sell the financial instrument so as to match the hedge ratio or fall within the numerical range. Output request
Information processing equipment. The information processing apparatus according to claim 8 , wherein the ordering unit outputs an order request for an inverse type exchange-traded fund that fluctuates in the opposite direction to a predetermined market index. When an order request for selling the financial product is output, the ordering unit outputs an order request for purchasing the constituent stocks of the portfolio in operation according to the surplus funds obtained from the sale of the financial product. Or the information processing apparatus according to 9 . The generator is
Based on the stock information, the index value of each of the multiple factors that are the fluctuation risk factors of the trading stock is calculated.
The information according to any one of claims 6 to 10 , which generates the portfolio of a plurality of patterns so that the index value of each element matches a predetermined numerical range for each of the plurality of risk characteristics. Processing equipment. The generator updates the portfolio at predetermined intervals based on the stock information.
A calculation unit for calculating the correlation coefficient between the portfolio being operated by the user and the updated portfolio is provided.
When the correlation coefficient is less than or equal to the threshold value, the ordering unit requests an order to purchase or sell the trading stock held by the user so that the portfolio under operation matches the updated portfolio. The information processing apparatus according to claim 11 for output. The calculation unit calculates a first correlation coefficient based on the index value and a second correlation coefficient based on the performance value of the portfolio.
The information processing apparatus according to claim 12, wherein the ordering unit outputs the ordering request when the first or second correlation coefficient is equal to or less than a threshold value. Get stock information of multiple trading stocks traded in the market,
Based on the stock information, multiple patterns of portfolios that are a combination of multiple trading stocks are generated.
Output a question asking the current business sentiment,
Accepts the user's answer to the question and accepts it
Output the portfolio of multiple patterns according to the answer,
Accepts the selection input to select the portfolio that manages the user's assets from the output multiple patterns of the portfolio.
Outputs order requests for multiple trading stocks included in the selected portfolio ,
For each pattern, a standard portfolio in which a predetermined standard amount is distributed to a plurality of stocks and a plurality of adjustment portfolios in which an adjustment amount different from the standard amount by a predetermined amount is distributed to a plurality of stocks are generated.
An information processing method in which a computer executes a process of outputting an order request for one or more of the reference portfolios and one of the adjustment portfolios according to the investment amount allocated to the asset management by the user . Get stock information of multiple trading stocks traded in the market,
Based on the stock information, multiple patterns of portfolios that are a combination of multiple trading stocks are generated.
Output a question asking the current business sentiment,
Accepts the user's answer to the question and accepts it
Output the portfolio of multiple patterns according to the answer,
Accepts the selection input to select the portfolio that manages the user's assets from the output multiple patterns of the portfolio.
Outputs order requests for multiple trading stocks included in the selected portfolio ,
By margin trading with the holdings that make up the portfolio under management as collateral, the financial products that are different from the holdings are traded so that the ratio of the investment amount of the financial product to the investment amount of the portfolio becomes the predetermined hedge ratio. Accepting operation requests to buy and sell from the above users
When the operation request is accepted, it is determined whether or not the ratio matches the hedge ratio or is within a certain numerical range from the hedge ratio.
When it is determined that the hedge ratio does not match or does not fall within the numerical range, an order request for purchasing or selling the financial product that matches the hedge ratio or falls within the numerical range is output . Information processing method that a computer executes. The first reception unit that accepts selection input to select a portfolio that manages the user's assets from a portfolio of multiple patterns that is a combination of multiple trading stocks.
An ordering unit that outputs order requests for multiple trading stocks included in the selected portfolio, and
By margin trading with the holdings that make up the portfolio under management as collateral, the financial products that are different from the holdings are traded so that the ratio of the investment amount of the financial product to the investment amount of the portfolio becomes the predetermined hedge ratio. The second reception unit that accepts operation requests to buy and sell from the user,
When the operation request is received, it is provided with a determination unit for determining whether or not the ratio matches the hedge ratio or is within a certain numerical range from the hedge ratio.
If it is determined that the hedge ratio does not match or does not fall within the numerical range, the ordering department places an order to purchase or sell the financial instrument so as to match the hedge ratio or fall within the numerical range. An information processing device that outputs a request.

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