Akademik Veri Yönetim Sistemi
Intelligent and Fuzzy Systems - Intelligence and Sustainable Future Proceedings of the INFUS 2023 Conference, İstanbul, Türkiye, 22 - 24 Ağustos 2023, cilt.758 LNNS, ss.699-707
To achieve success in financial markets, no matter how much data is obtained and trading markets develop, it will continue to be a fundamental problem for professional portfolio managers, academics, and society. The modern portfolio theory proposed by the American economist Harry Markowitz to find solutions to the problems in portfolio allocation (1952) made its mark in history as the pioneering work of the period. Afterward, many studies have been carried out to design the best portfolio distribution method based on this study. The resulting studies provided solutions to the missing points in previous studies in parallel with the development and maturation of the stock market. Advances in different academic fields (e.g., behavioral finance, operations research) and technological advances (e.g. big data, fast computers) have influenced these studies. There are several approaches to improving the portfolio allocation process. The primary purpose of this study is to examine the effects of different portfolio allocation techniques, whose first emergence dates back to the middle of the 20th century, on new-generation risky assets by using linguistic labels (fuzzy terms) to express the preferences of decision-makers due to the uncertainty of information in the financial markets and the complexity of the decision-making problem. It is expected that serious differences will be observed in performance measurements due to the structure of the stocks they are working on and the price structure of the crypto assets used in this study. The success of crypto-assets is expected to fail older-generation investment instruments (stocks, commodities) visibly.