Tula, Tula, Russian Federation
Tula, Tula, Russian Federation
In order to identify the possibility of managing the risks of investing in the industry of modern Russia, the profitability and risk of the main types of economic activity in recent years were evaluated. The most attractive for investments in industry, taking into account the ratio of risk and profitability, are mining, the production of coke and petroleum products, and chemical production. Possible, but less profitable and more risky for investors’ types of activity are metallurgical production and the manufacture of finished metal products, as well as the production of electrical equipment, electronic and optical equipment. To assess the possibility of reducing risks through diversification, the correlation relationships of the returns of various types of economic activity in industry are evaluated. The average value of the correlation coefficient was 0.167. The correlation relationships of the returns of various types of economic activity characterized not only by small positive correlation coefficients, but also by large negative values of correlation coefficients. The results of assessing the correlation relationships of the returns of various types of economic activity in the domestic industry allow us to conclude that risk reduction is possible on basis of a diversification strategy — a combination of different types of economic activity.
return on assets, coefficient of variation, and correlation of return, diversification
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