Desempenho das corretoras participantes da carteira valor no biênio 2015-2016.

Abstract

Brazilian investors are risk averse, and when they seek to apply on the stock exchange they are faced with uncertainties. In this way the work sought to explore the portfolio diversification from the composition of matrices, based on the Modern Theory of the Portfolio of Harry Markowitz (1959), and proposed to investigate, taking as an emphasis the formation of minimum risk portfolios, The brokerage firms that suggested actions to the composition of the Portfolio Value, in terms of performance, are mutually distinguishable. As for the methodological terms, the study is bibliographical and documentary, in relation to the procedures, it is a quanti-qualitative approach and as far as the ends are exploratory. In order to take into account the objective listed, the minimum risk portfolios, formed by the suggestions of these securities brokers in the biennium 2015-2016, were analyzed, which were subjected to descriptive statistical procedures and inferences, based on the nonparametric tests of Kruskall Wallis and Bonferroni- Dunn who took the minimum risk and return of the minimum risk portfolios as hypotheses: 𝐻0: All stock brokers presented similar performances and 𝐻1: At least two brokerages presented different performances. With the application of the tests, at a significance level of 0.05, the null hypothesis could not be rejected, so all brokerages presented similar performance. However, Bonferroni-Dunn adds, for the minimum risk earned by the portfolios, brokers in three distinct groups, which is another criterion of choice for investors.