Stock Analysis on Net

NVIDIA Corp. (NASDAQ:NVDA)

Modelo de fijación de precios de activos de capital (CAPM) 

Microsoft Excel LibreOffice Calc

Tasas de retorno

NVIDIA Corp., tasas mensuales de retorno

Microsoft Excel LibreOffice Calc
NVIDIA Corp. (NVDA) Standard & Poor’s 500 (S&P 500)
t Fecha PrecioNVDA,t1 DividendoNVDA,t1 RNVDA,t2 PrecioS&P 500,t RS&P 500,t3
29 feb. 2016 $7.84 1,932.23
1. 31 mar. 2016 $8.91 13.65% 2,059.74 6.60%
2. 30 abr. 2016 $8.88 -0.34% 2,065.30 0.27%
3. 31 may. 2016 $11.68 $0.02875 31.86% 2,096.95 1.53%
. . . . . . .
. . . . . . .
. . . . . . .
70. 31 dic. 2021 $294.11 $0.04 -9.98% 4,766.18 4.36%
71. 31 ene. 2022 $244.86 -16.75% 4,515.55 -5.26%
Promedio (R): 5.79% 1.29%
Desviación estándar: 12.95% 4.25%
NVIDIA Corp. (NVDA) Standard & Poor’s 500 (S&P 500)
t Fecha PrecioNVDA,t1 DividendoNVDA,t1 RNVDA,t2 PrecioS&P 500,t RS&P 500,t3
29 feb. 2016 $7.84 1,932.23
1. 31 mar. 2016 $8.91 13.65% 2,059.74 6.60%
2. 30 abr. 2016 $8.88 -0.34% 2,065.30 0.27%
3. 31 may. 2016 $11.68 $0.02875 31.86% 2,096.95 1.53%
4. 30 jun. 2016 $11.75 0.60% 2,098.86 0.09%
5. 31 jul. 2016 $14.28 21.53% 2,173.60 3.56%
6. 31 ago. 2016 $15.34 $0.02875 7.62% 2,170.95 -0.12%
7. 30 sept. 2016 $17.13 11.67% 2,168.27 -0.12%
8. 31 oct. 2016 $17.79 3.85% 2,126.15 -1.94%
9. 30 nov. 2016 $23.05 $0.035 29.76% 2,198.81 3.42%
10. 31 dic. 2016 $26.69 15.79% 2,238.83 1.82%
11. 31 ene. 2017 $27.30 2.29% 2,278.87 1.79%
12. 28 feb. 2017 $25.37 $0.035 -6.94% 2,363.64 3.72%
13. 31 mar. 2017 $27.23 7.33% 2,362.72 -0.04%
14. 30 abr. 2017 $26.08 -4.22% 2,384.20 0.91%
15. 31 may. 2017 $36.09 $0.035 38.52% 2,411.80 1.16%
16. 30 jun. 2017 $36.14 0.14% 2,423.41 0.48%
17. 31 jul. 2017 $40.63 12.42% 2,470.30 1.93%
18. 31 ago. 2017 $42.36 $0.035 4.34% 2,471.65 0.05%
19. 30 sept. 2017 $44.69 5.50% 2,519.36 1.93%
20. 31 oct. 2017 $51.70 15.69% 2,575.26 2.22%
21. 30 nov. 2017 $50.18 $0.0375 -2.87% 2,647.58 2.81%
22. 31 dic. 2017 $48.38 -3.59% 2,673.61 0.98%
23. 31 ene. 2018 $61.45 27.02% 2,823.81 5.62%
24. 28 feb. 2018 $60.50 $0.0375 -1.48% 2,713.83 -3.89%
25. 31 mar. 2018 $57.90 -4.30% 2,640.87 -2.69%
26. 30 abr. 2018 $56.23 -2.88% 2,648.05 0.27%
27. 31 may. 2018 $63.05 $0.0375 12.20% 2,705.27 2.16%
28. 30 jun. 2018 $59.23 -6.06% 2,718.37 0.48%
29. 31 jul. 2018 $61.22 3.36% 2,816.29 3.60%
30. 31 ago. 2018 $70.17 $0.0375 14.68% 2,901.52 3.03%
31. 30 sept. 2018 $70.26 0.13% 2,913.98 0.43%
32. 31 oct. 2018 $52.71 -24.98% 2,711.74 -6.94%
33. 30 nov. 2018 $40.86 $0.04 -22.41% 2,760.17 1.79%
34. 31 dic. 2018 $33.38 -18.31% 2,506.85 -9.18%
35. 31 ene. 2019 $35.94 7.67% 2,704.10 7.87%
36. 28 feb. 2019 $38.57 $0.04 7.43% 2,784.49 2.97%
37. 31 mar. 2019 $44.89 16.39% 2,834.40 1.79%
38. 30 abr. 2019 $45.25 0.80% 2,945.83 3.93%
39. 31 may. 2019 $33.87 $0.04 -25.06% 2,752.06 -6.58%
40. 30 jun. 2019 $41.06 21.23% 2,941.76 6.89%
41. 31 jul. 2019 $42.18 2.73% 2,980.38 1.31%
42. 31 ago. 2019 $41.88 $0.04 -0.62% 2,926.46 -1.81%
43. 30 sept. 2019 $43.52 3.92% 2,976.74 1.72%
44. 31 oct. 2019 $50.26 15.49% 3,037.56 2.04%
45. 30 nov. 2019 $54.19 $0.04 7.90% 3,140.98 3.40%
46. 31 dic. 2019 $58.83 8.56% 3,230.78 2.86%
47. 31 ene. 2020 $59.11 0.48% 3,225.52 -0.16%
48. 29 feb. 2020 $67.52 $0.04 14.30% 2,954.22 -8.41%
49. 31 mar. 2020 $65.90 -2.40% 2,584.59 -12.51%
50. 30 abr. 2020 $73.07 10.88% 2,912.43 12.68%
51. 31 may. 2020 $88.76 21.47% 3,044.31 4.53%
52. 30 jun. 2020 $94.98 $0.04 7.05% 3,100.29 1.84%
53. 31 jul. 2020 $106.15 11.76% 3,271.12 5.51%
54. 31 ago. 2020 $133.75 26.00% 3,500.31 7.01%
55. 30 sept. 2020 $135.31 $0.04 1.20% 3,363.00 -3.92%
56. 31 oct. 2020 $125.34 -7.37% 3,269.96 -2.77%
57. 30 nov. 2020 $134.02 6.93% 3,621.63 10.75%
58. 31 dic. 2020 $130.55 $0.04 -2.56% 3,756.07 3.71%
59. 31 ene. 2021 $129.90 -0.50% 3,714.24 -1.11%
60. 28 feb. 2021 $137.15 5.58% 3,811.15 2.61%
61. 31 mar. 2021 $133.48 $0.04 -2.65% 3,972.89 4.24%
62. 30 abr. 2021 $150.10 12.45% 4,181.17 5.24%
63. 31 may. 2021 $162.45 8.23% 4,204.11 0.55%
64. 30 jun. 2021 $200.02 $0.04 23.15% 4,297.50 2.22%
65. 31 jul. 2021 $194.99 -2.51% 4,395.26 2.27%
66. 31 ago. 2021 $223.85 $0.04 14.82% 4,522.68 2.90%
67. 30 sept. 2021 $207.16 -7.46% 4,307.54 -4.76%
68. 31 oct. 2021 $255.67 23.42% 4,605.38 6.91%
69. 30 nov. 2021 $326.76 27.81% 4,567.00 -0.83%
70. 31 dic. 2021 $294.11 $0.04 -9.98% 4,766.18 4.36%
71. 31 ene. 2022 $244.86 -16.75% 4,515.55 -5.26%
Promedio (R): 5.79% 1.29%
Desviación estándar: 12.95% 4.25%

Mostrar todo

1 Datos en US$ por acción de acciones ordinarias, ajustados por escisiones y dividendos de acciones.

2 Tasa de rendimiento de las acciones ordinarias de NVDA durante el período t.

3 Tasa de rendimiento del S&P 500 (el proxy de la cartera de mercado) durante el período t.


Varianza y covarianza

NVIDIA Corp., cálculo de varianza y covarianza de rendimientos

Microsoft Excel LibreOffice Calc
t Fecha RNVDA,t RS&P 500,t (RNVDA,tRNVDA)2 (RS&P 500,tRS&P 500)2 (RNVDA,tRNVDA)×(RS&P 500,tRS&P 500)
1. 31 mar. 2016 13.65% 6.60% 61.69 28.16 41.68
2. 30 abr. 2016 -0.34% 0.27% 37.58 1.05 6.27
3. 31 may. 2016 31.86% 1.53% 679.21 0.06 6.26
. . . . . . .
. . . . . . .
. . . . . . .
70. 31 dic. 2021 -9.98% 4.36% 248.80 9.42 -48.41
71. 31 ene. 2022 -16.75% -5.26% 508.01 42.91 147.65
Total (Σ): 11,742.48 1,262.70 1,818.37
t Fecha RNVDA,t RS&P 500,t (RNVDA,tRNVDA)2 (RS&P 500,tRS&P 500)2 (RNVDA,tRNVDA)×(RS&P 500,tRS&P 500)
1. 31 mar. 2016 13.65% 6.60% 61.69 28.16 41.68
2. 30 abr. 2016 -0.34% 0.27% 37.58 1.05 6.27
3. 31 may. 2016 31.86% 1.53% 679.21 0.06 6.26
4. 30 jun. 2016 0.60% 0.09% 26.98 1.44 6.24
5. 31 jul. 2016 21.53% 3.56% 247.69 5.15 35.71
6. 31 ago. 2016 7.62% -0.12% 3.35 2.00 -2.59
7. 30 sept. 2016 11.67% -0.12% 34.52 2.00 -8.32
8. 31 oct. 2016 3.85% -1.94% 3.77 10.46 6.28
9. 30 nov. 2016 29.76% 3.42% 574.58 4.52 50.94
10. 31 dic. 2016 15.79% 1.82% 99.96 0.28 5.28
11. 31 ene. 2017 2.29% 1.79% 12.31 0.25 -1.74
12. 28 feb. 2017 -6.94% 3.72% 162.18 5.89 -30.92
13. 31 mar. 2017 7.33% -0.04% 2.37 1.77 -2.05
14. 30 abr. 2017 -4.22% 0.91% 100.34 0.15 3.84
15. 31 may. 2017 38.52% 1.16% 1,070.76 0.02 -4.41
16. 30 jun. 2017 0.14% 0.48% 31.98 0.66 4.59
17. 31 jul. 2017 12.42% 1.93% 43.96 0.41 4.26
18. 31 ago. 2017 4.34% 0.05% 2.10 1.53 1.79
19. 30 sept. 2017 5.50% 1.93% 0.09 0.41 -0.19
20. 31 oct. 2017 15.69% 2.22% 97.86 0.86 9.17
21. 30 nov. 2017 -2.87% 2.81% 75.01 2.30 -13.13
22. 31 dic. 2017 -3.59% 0.98% 88.00 0.10 2.90
23. 31 ene. 2018 27.02% 5.62% 450.36 18.71 91.80
24. 28 feb. 2018 -1.48% -3.89% 52.98 26.90 37.75
25. 31 mar. 2018 -4.30% -2.69% 101.83 15.85 40.17
26. 30 abr. 2018 -2.88% 0.27% 75.31 1.04 8.85
27. 31 may. 2018 12.20% 2.16% 40.98 0.75 5.56
28. 30 jun. 2018 -6.06% 0.48% 140.48 0.65 9.58
29. 31 jul. 2018 3.36% 3.60% 5.92 5.34 -5.62
30. 31 ago. 2018 14.68% 3.03% 78.98 3.01 15.41
31. 30 sept. 2018 0.13% 0.43% 32.10 0.74 4.89
32. 31 oct. 2018 -24.98% -6.94% 946.93 67.78 253.34
33. 30 nov. 2018 -22.41% 1.79% 795.20 0.24 -13.92
34. 31 dic. 2018 -18.31% -9.18% 580.81 109.62 252.33
35. 31 ene. 2019 7.67% 7.87% 3.52 43.25 12.33
36. 28 feb. 2019 7.43% 2.97% 2.67 2.82 2.75
37. 31 mar. 2019 16.39% 1.79% 112.19 0.25 5.30
38. 30 abr. 2019 0.80% 3.93% 24.92 6.96 -13.17
39. 31 may. 2019 -25.06% -6.58% 951.99 61.94 242.82
40. 30 jun. 2019 21.23% 6.89% 238.23 31.37 86.45
41. 31 jul. 2019 2.73% 1.31% 9.40 0.00 -0.06
42. 31 ago. 2019 -0.62% -1.81% 41.09 9.62 19.88
43. 30 sept. 2019 3.92% 1.72% 3.53 0.18 -0.80
44. 31 oct. 2019 15.49% 2.04% 93.96 0.56 7.28
45. 30 nov. 2019 7.90% 3.40% 4.43 4.46 4.45
46. 31 dic. 2019 8.56% 2.86% 7.67 2.45 4.34
47. 31 ene. 2020 0.48% -0.16% 28.28 2.12 7.74
48. 29 feb. 2020 14.30% -8.41% 72.28 94.15 -82.50
49. 31 mar. 2020 -2.40% -12.51% 67.12 190.56 113.10
50. 30 abr. 2020 10.88% 12.68% 25.87 129.78 57.95
51. 31 may. 2020 21.47% 4.53% 245.83 10.47 50.74
52. 30 jun. 2020 7.05% 1.84% 1.59 0.30 0.69
53. 31 jul. 2020 11.76% 5.51% 35.60 17.79 25.17
54. 31 ago. 2020 26.00% 7.01% 408.34 32.65 115.47
55. 30 sept. 2020 1.20% -3.92% 21.14 27.20 23.98
56. 31 oct. 2020 -7.37% -2.77% 173.23 16.47 53.42
57. 30 nov. 2020 6.93% 10.75% 1.28 89.54 10.71
58. 31 dic. 2020 -2.56% 3.71% 69.77 5.86 -20.21
59. 31 ene. 2021 -0.50% -1.11% 39.58 5.79 15.14
60. 28 feb. 2021 5.58% 2.61% 0.05 1.73 -0.28
61. 31 mar. 2021 -2.65% 4.24% 71.24 8.71 -24.91
62. 30 abr. 2021 12.45% 5.24% 44.32 15.60 26.30
63. 31 may. 2021 8.23% 0.55% 5.93 0.55 -1.81
64. 30 jun. 2021 23.15% 2.22% 301.30 0.86 16.13
65. 31 jul. 2021 -2.51% 2.27% 69.03 0.97 -8.16
66. 31 ago. 2021 14.82% 2.90% 81.50 2.58 14.51
67. 30 sept. 2021 -7.46% -4.76% 175.55 36.59 80.15
68. 31 oct. 2021 23.42% 6.91% 310.57 31.61 99.08
69. 30 nov. 2021 27.81% -0.83% 484.52 4.52 -46.79
70. 31 dic. 2021 -9.98% 4.36% 248.80 9.42 -48.41
71. 31 ene. 2022 -16.75% -5.26% 508.01 42.91 147.65
Total (Σ): 11,742.48 1,262.70 1,818.37

Mostrar todo

VarianzaNVDA = Σ(RNVDA,tRNVDA)2 ÷ (71 – 1)
= 11,742.48 ÷ (71 – 1)
= 167.75

VarianzaS&P 500 = Σ(RS&P 500,tRS&P 500)2 ÷ (71 – 1)
= 1,262.70 ÷ (71 – 1)
= 18.04

CovarianzaNVDA, S&P 500 = Σ(RNVDA,tRNVDA)×(RS&P 500,tRS&P 500) ÷ (71 – 1)
= 1,818.37 ÷ (71 – 1)
= 25.98


Estimación sistemática del riesgo (β)

Microsoft Excel LibreOffice Calc
VarianzaNVDA 167.75
VarianzaS&P 500 18.04
CovarianzaNVDA, S&P 500 25.98
Coeficiente de correlaciónNVDA, S&P 5001 0.47
βNVDA2 1.44
αNVDA3 3.93%

Cálculos

1 Coeficiente de correlaciónNVDA, S&P 500
= CovarianzaNVDA, S&P 500 ÷ (Desviación estándarNVDA × Desviación estándarS&P 500)
= 25.98 ÷ (12.95% × 4.25%)
= 0.47

2 βNVDA
= CovarianzaNVDA, S&P 500 ÷ VarianzaS&P 500
= 25.98 ÷ 18.04
= 1.44

3 αNVDA
= PromedioNVDA – βNVDA × PromedioS&P 500
= 5.79%1.44 × 1.29%
= 3.93%


Tasa de rendimiento esperada

Microsoft Excel LibreOffice Calc
Suposiciones
Tasa de rendimiento de LT Treasury Composite1 RF 3.19%
Tasa de rendimiento esperada de la cartera de mercado2 E(RM) 12.22%
Riesgo sistemático de acciones ordinarias NVIDIA βNVDA 1.44
 
Tasa de rendimiento esperada de las acciones ordinarias de NVIDIA3 E(RNVDA) 16.19%

1 Promedio no ponderado de los rendimientos de las ofertas en todos los bonos del Tesoro de los Estados Unidos con cupón fijo pendientes, ni vencidos ni exigibles en menos de 10 años (proxy de tasa de rendimiento libre de riesgo).

2 Ver detalles »

3 E(RNVDA) = RF + βNVDA [E(RM) – RF]
= 3.19% + 1.44 [12.22%3.19%]
= 16.19%