Avaliação do desempenho da ação ordinária da Eletrobrás com base na tradicional análise de risco/retorno.

Abstract

Faced with a market that is increasingly affected by politics and other factors, many industries reflect the effects of such uncertainties on the capital market. The electricity sector is one of the most affected, and one of the main affected is Eletrobrás, which in addition to the economic crisis has been suffering from the crisis of the energy sector itself. With the emphasis on this scenario of uncertainty, the present study aimed to apply the risk / return analysis to identify the repercussions of the crisis in the electric sector under the performance of the Eletrobrás share. For this purpose, we selected the historical quotations of Eletrobrás common stock (ELET3) and the market index (IBOVESPA); Based on these historical data were processed with the help of Microsoft Excel, statistical meters and graphs to better evaluate the performance of the action of Eletrobrás (ELET3) according to the traditional theory of risk / return analysis. The main calculated indicators present the following results: mean return of 4.94%, standard deviation of 17.57%, coefficient of variation of 355.64%, kurtosis of 1.33 and positive asymmetry of 1.17. It is also concluded that only 36% of the total risk of ELET3 can be attributed to systematic risk, thus demonstrating that the 64% complement is the responsibility of the company's specific risk, that is, its own configurations Energy sector.