Profitability of Sector Mutual Funds and ETFs During Market Development and Length of Investment Horizon

This paper focuses on the profitability of investments into IT, finance, healthcare and consumer goods oriented active and passive mutual funds and ETFs and their profit/loss in different market situations (growing, stagnant and decreasing markets).The aim of the paper is to set recommendations for investors as regards which instrument (active or passive mutual fund or ETFs) brings higher return or lower loss over the time and market development and if investors can expect different results based on the sector orientation, which sector is more sensitive to bullish or bearish trends. Our results show that neither ETF nor passive mutual funds were able to beat the market, as the sector index brings better results than these investments in all situations. Within bearish trend, all sector ETFs and passive mutual funds bring the same results as sector index, only active managed mutual funds bring better results. The lowest loss during this period was achieved by active managed mutual funds focusing on healthcare. Bullish and stagnant markets bring quite the same results, but passive funds and ETF are more profitable than active mutual funds in growing markets

Towards the development and verification of a 3D-based advanced optimized farm machinery trajectory algorithm

Efforts related to minimizing the environmental burden caused by agricultural activities and increasing economic efficiency are key contemporary drivers in the precision agriculture domain. Controlled Traffic Farming (CTF) techniques are being applied against soil compaction creation, using the on-line optimization of trajectory planning for soil-sensitive field operations. The research presented in this paper aims at a proof-of-concept solution with respect to optimizing farm machinery trajectories in order to minimize the environmental burden and increase economic efficiency. As such, it further advances existing CTF solutions by including (1) efficient plot divisions in 3D, (2) the optimization of entry and exit points of both plot and plot segments, (3) the employment of more machines in parallel and (4) obstacles in a farm machinery trajectory. The developed algorithm is expressed in terms of unified modeling language (UML) activity diagrams as well as pseudo-code. Results were visualized in 2D and 3D to demonstrate terrain impact. Verifications were conducted at a fully operational commercial farm (Rostenice, the Czech Republic) against second-by-second sensor measurements of real farm machinery trajectories

Antecedents of political trust in adolescence: Cognitive abilities and perceptions of parents

This study examined the predictors of political trust in late adolescence. Three waves of longitudinal data (ages 11, 15, and 17) from 1116 Czech adolescents (346 participated at least in the first and last wave) were analyzed using structural equation modeling. Results showed that high verbal cognitive ability in early adolescence predicted greater political trust in late adolescence. This effect was explained by adolescents' greater cognitive political engagements, but not by their more positive relationships with authorities (e.g., school or parents) during adolescence. Next, early adolescents who perceived more parental warmth demonstrated greater political trust when they reached late adolescence. These results suggest that some young people might enter adulthood more skeptical regarding politics based on their abilities and early nonpolitical experiences

Who crosses the norms? Predictors of the readiness for non-normative political participation among adolescents

This study investigated whether adolescents' readiness for non-normative political participation (i.e., readiness to confront social rules for political reasons) was predicted by their interpersonal problems (with parents, teachers, and classmates), low optimism, and political beliefs (political self-efficacy and distrust in public institutions). A structural equation model using two-wave longitudinal data from Czech high school students (N = 768; 54% females; age range at T1 = 14–17, M = 15.97; T2 data collected 1.5 years later) showed that the changes in adolescents' readiness for non-normative participation were predicted by their lower institutional trust. Interpersonal relationships or optimism had no cross-sectional or longitudinal effect on the readiness for non-normative participation. These results suggest that the main source of adolescents' readiness for non-normative political actions lies in their political beliefs, while the effect of adolescents' interpersonal problems is less clear

Zpracování a interpretace výnosových map jako podklad pro agronomické rozhodování

Diploma thesis was focused on data yield map processing, their interpretation and analysis of relations with another spatial data. Aims of the work were identification error values, statistical process yield data and with help statistical methods evaluate correlation between yield map and another spatial data. Methods were based on gathering yield data with combine harvester during two years in corn and malting barley in conditions of farm. With using GIS and predefined tolls were removed error values from yield data and created yield maps. Subsequently, yield maps were analyzed with vegetation index NDVI, digital elevation model (DEM), sensor measurements of soil electrical conductivity and historical yield maps. In results was achieved removing from 11,3 to 13,8 % yield points in average, increasing of average yield from 3,6 to 4,7 % and decreasing of variation coefficient between 7,0 and 8,6 % with comparing original yield data and depending on planting crops during data yield processing. In case of evaluation of relations between yield map and NDVI obtained from satellite remote sensing was achieved moderately correlation by corn (r = 0,44) and malting barley (r = 0,65) in average depending on times of imaging and vegetative phase of the crop. In the evaluation relations between yield maps and DEM and slope was achieved weak and very weak direct and indirect correlation. Likewise, by soil electrical conductivity and yield was achieved very weak to negligible correlation. Conversely, the highest correlation was achieved between yield map and historical yield map (r = 0,63) in average. Obtained information serve as starting point for making agronomy decisions in conditions of particular farm in case of replacement of creating yield maps by prediction of yield based on another spatial data

Percepce rodičovského chování a jeho souvislost se sebehodnocením. 138. klinicko-psychologický den. Praha, 8. 1. 2007.

Prezentace, 138. klinicko-psychologický den. Praha, 8.1.2007. Příspěvek byl zaměřen na výzkum souvislostí mezi sebehodnocením adolescentů a jejich hodnocení obou rodičů.Presentation, 138th clinical-psychology workshop. Prague, 8.1.2007. Paper was focused on perception of parenting style during childhood and perception of parents as predictors of adolescent's self-estee

Measuring the Performance of Leveraged and Non‑Leveraged ETF’s

This paper deals with exchange traded funds (ETFs) and valuation it’s performance according to selected indicators. For empirical analysis 10 leveraged and non‑leveraged ETFs listed on US market is chosen according to selected criterias (adequate history at least 7 years, daily presented NAV, accessibility for retail investor). Observed time period was 2010–2015 and selected investment horizon is 1, 3 and 6 years. Funds are analyzed on the basis of NAV in the terms of return and risk represented by selected indicators (like Sharpe ratio, Traynor ratio, Information ratio, Apparaisal ratio and indicators like alfa (Jensen Alfa) and beta. Results are commented in a broader context in summary and discussion chapter as well as recommendations. Measured by classical Sharpe ratio, both groups bring to investor pretty same results, but e.q. by Information ratio by non‑leveraged ETF shows very clearly the importance of work by ETF portfolio manager. Only a few leveraged ETF bring to the investor adequate ratio between profit and level of risk

Comparisons of Uniform and Variable Rate Nitrogen Fertilizer Applications in Real Conditions - Evaluation of Potential Impact on the Yield of Wheat Available for Use in Animal Feed

The presented research deals with the variable application of N fertilizers (VRA NF) in the stand of winter wheat and with possibilities for evaluating the effect of such application on grain yield. The effect of VRA NF was assessed in close cooperation between Spearhead Czech Ltd. and Mendel University in Brno within an operational experiment. In 2018 and 2019, three experimental plots were always chosen on which VRA NF was implemented by conventional technique according to application maps. Each application map included control strips with the uniform NF application. The application maps were prepared based on the spectral analysis of satellite images. The individual plots were divided into three zones: Zone 1 with the lowest yield potential, Zone 2 with the medium yield potential, Zone 3 with the highest yield potential. The highest dose of N was at all times applied in Zone 3, and conversely the lowest dose was applied in Zone 1. In 2018 and 2019, the experimental fields were harvested by harvester New Holland CX 8080 which was equipped with the technology for the monitoring of grain yields. The main goal of data processing was to remove error data at first and then to re-calibrate them using the information about the weight of harvested grain. The expected benefit, i.e. a yield increase by min. 3% was found only in 2018, when the benefit was about 5%. In the following year, the difference between the conventional application of N and VRA technologies was minimal. However, this condition was probably caused by drought which negatively affected all stands. In particular, measured values of grain yield do not indicate the negative effect of VRA NF on grain yield. This research further showed the applicability of yield data acquired by harvest technology; however, the elimination of error data is necessary as well as their re-calibration according to total yield ascertained by weighing the total production of grain from a specific plot

Prediction of Yield Productivity Zones from Landsat 8 and Sentinel-2A/B and Their Evaluation Using Farm Machinery Measurements

Yield is one of the primary concerns for any farmer since it is a key to economic prosperity. Yield productivity zones—that is to say, areas with the same yield level within fields over the long-term—are a form of derived (predicted) data from periodic remote sensing, in this study according to the Enhanced Vegetation Index (EVI). The delineation of yield productivity zones can (a) increase economic prosperity and (b) reduce the environmental burden by employing site-specific crop management practices which implement advanced geospatial technologies that respect soil heterogeneity. This paper presents yield productivity zone identification and computing based on Sentinel-2A/B and Landsat 8 multispectral satellite data and also quantifies the success rate of yield prediction in comparison to the measured yield data. Yield data on spring barley, winter wheat, corn, and oilseed rape were measured with a spatial resolution of up to several meters directly by a CASE IH harvester in the field. The yield data were available from three plots in three years on the Rostěnice Farm in the Czech Republic, with an overall acreage of 176 hectares. The presented yield productivity zones concept was found to be credible for the prediction of yield, including its geospatial variations