An empirical examination of the effectiveness of dollar-cost averaging using downside risk performance measures |
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| Authors: | Karyl?B.?Leggio mailto:leggiok@umkc.edu" title=" leggiok@umkc.edu" itemprop=" email" data-track=" click" data-track-action=" Email author" data-track-label=" " >Email author,Donald?Lien |
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| Affiliation: | (1) Bloch School of Business and Public Administration, University of Missouri at Kansas City, 64110 Kansas City, Missouri;(2) College of Business, University of Texas at San Antonio, 78249-0631 San Antonio, Texas |
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| Abstract: | ![]()
Some studies find the dollar-cost averaging investment strategy to be sub-optimal using a traditional Sharpe ratio performance ranking metric. Using both the Sortino ratio and the Upside Potential ratio, we empirically test four investment strategies for alternative asset investments. We find the relative ranking of dollar-cost averaging remains inferior to alternative investment strategies. (JEL G1, G11, N2) |
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