WO2007091864A1

WO2007091864A1 - A system and a method for providing integrated portfolio simulation

Info

Publication number: WO2007091864A1
Application number: PCT/KR2007/000718
Authority: WO
Inventors: Sang Hwan Park
Original assignee: Marketpoint Inc.
Priority date: 2006-02-09
Filing date: 2007-02-09
Publication date: 2007-08-16
Also published as: KR20070080993A; KR100865800B1

Abstract

A system for providing integrated investment portfolio simulation for investment products such as stocks, futures, options, and the like, is provided, wherein the system includes a data receiving module for receiving data of one selected from a data group including at least the composite price index of stocks, the KOSPI200 index, and the present values of stock issues, through a wired or a wireless network; a trading data receiving module for receiving a trading volume and/or a trading price of a trading product, which is an investment product to be bought or sold, as an input; a relation deducing module for deducing a relation between time- variant fluctuations of a reference data, which is the one selected from the data group, and time-variant price fluctuations of the trading product; a corresponding value calculating module for calculating a price of the trading product corresponding to a pre-determined value of the reference data on the basis of the relation deduced by the relation deducing module; and a profit- and-loss calculating module for calculating profit- and-loss for the price of the trading product calculated by the corresponding value calculating module on the basis of the price, the trading volume, and the trading price of the trading product.

Description

A SYSTEM AND A METHOD FOR PROVIDING INTEGRATED

PORTFOLIO SIMULATION

Technical Field

[1] The present invention relates to a system and a method for providing integrated portfolio simulation for investors. In specific, the present invention relates to a system for providing integrated portfolio simulation, which is capable of raising earning ratio of investors by providing integrated portfolio simulation for not only underlying assets such as stocks and bonds, but also derivatives such as futures, options, and ELW, and a method for providing the integrated portfolio simulation.

[2]

Background Art

[3] Recently, institutional investors and individual investors are more interested in not only stocks, but also derivatives such as futures and options. Specially, equities, so called ELW(Equity Linked Warrant) have been listed in the Korean stock exchange and attract investors' attention. The ELW means an equity of which timing of trading and trading price can be set up in advance with reference to a predetermined stock or the composite stock exchange index and which creates rights to sell or buy the predetermined stocks or cash according to a stipulated method. Using the ELW, when the stock price of a specific issue is expected to rise, an investor can buy rights which can be exchanged with the stock with a portion of his/her investment, instead of buying the stock with his/her all investment. Thus, the investor can get a margin. Further, the ELW does not incur a loss larger than the purchase price unlike stock options. Accordingly, the ELW is considered by general investors as a low risk investment product and transaction of the ELW increases.

[4] Further, conventionally, it was a popular way of decreasing risk factors and increasing investment profit to invest in several individual stock issues. However, recently, as transaction of derivatives increases, a method for diversifying investment into not only stocks but also various products and markets including derivatives and the like.

[5] For these kinds of diversified investments, it is most important to calculate profit- and-loss from transactions. Generally, the profit-and-loss is calculated using an equation of [(the price of a product - a purchase price) x a purchase volume] in case of purchase, and using an equation of [(a sale price - the price of a product) x a sale volume] in case of sale. Therefore, the profit-and-loss is determined by the price of a product at the trading point of time, a trading price and a trading volume of an investment model.

[6] Accordingly, in order to construct a diversified investment strategy, it is necessary to calculate profit-and-loss from transaction of each product. However, at the present, only methods for calculating profit-and-loss of a single product or market are known. For example, in case of building an investment portfolio including stock index futures, stock index options, and the ELW of a specific issue, profit-and-loss for the stock index futures and the stock index options among the above three products changes according to fluctuations of the KOSPI2000 index, while profit-and-loss for the ELW changes according to fluctuations of the stock price of the specific issue. Accordingly, if products or markets are different, it is necessary to calculate variation of profit- and-loss for each product or each market separately according to a transaction strategy. As a result, it depends on analysis of a large amount of data and an inventor's personal experiences to build a portfolio for a plurality of different kinds of products.

[7]

Disclosure of Invention Technical Problem

[8] In order to solve the above problems, the present invention is objected to provide a system for providing integrated portfolio simulation, which makes a user understand at a glance variations of profit-and-loss from transaction of a plurality of different kinds of investment products such as stocks, futures, options, and ELW, and a method for providing the integrated portfolio simulation.

[9] In addition, the present invention is objected to provide a system for providing integrated investment portfolio simulation, which is capable of providing a single profit-and-loss chart for a plurality of different kinds of investment products and a method thereof.

[10]

Technical Solution

[11] In order to achieve the objects above, according to a first aspect of the present invention, a system for providing integrated investment portfolio simulation for investment products such as stocks, futures, options, and the like, is provided, wherein the system includes a data receiving module for receiving data of one selected from a data group including at least the composite price index of stocks, the KOSPI200 index, and the present values of stock issues, through a wired or a wireless network; a trading data receiving module for receiving a trading volume and/or a trading price of a trading product, which is an investment product to be bought or sold, as an input; a relation deducing module for deducing a relation between time-variant fluctuations of a reference data, which is the one selected from the data group, and time- variant price fluctuations of the trading product; a corresponding value calculating module for calculating a price of the trading product corresponding to a pre-determined value of the reference data on the basis of the relation deduced by the relation deducing module; and a profit-and-loss calculating module for calculating profit- and-loss for the price of the trading product calculated by the corresponding value calculating module on the basis of the price, the trading volume, and the trading price of the trading product.

[12] According to a second aspect of the present invention, a method for simulating integrated investment portfolio for investment products such as stocks, futures, options, and the like, is provided, wherein the method includes steps of (1) receiving data of one selected from a data group including at least the composite price index of stocks, the KOSPI200 index, and the present values of stock issues, through a wired or a wireless network; (2) receiving a trading volume and/or a trading price of a trading product, which is an investment product to be bought or sold, as an input; (3) deducing a relation between time-variant fluctuations of a reference data, which is the one selected from the data group, and time- variant price fluctuations of the trading product; (4) calculating a price of the trading product corresponding to a value of the reference data on the basis of the deduced relation; and (5) calculating profit-and-loss for the calculated price of the trading product on the basis of the price, the trading volume, and the trading price of the trading product. Brief Description of the Drawings

[13] Fig. 1 shows a schematic diagram of a service for providing investment portfolio simulation based on a network.

[14] Fig. 2 shows a block diagram of an example of the configuration of a system 100 for providing integrated portfolio simulation according to an embodiment of the present invention.

[15] Fig. 3 is a flowchart for explaining a process flow of a method for providing integrated portfolio simulation according to an embodiment of the present invention.

[16] Fig. 4 and Fig. 5 show examples of profit-and-loss charts provided by the system

100 for providing integrated portfolio simulation according to an embodiment of the present invention.

[17]

Mode for the Invention

[18] In the following, exemplary embodiments of the present invention will be described in detail with reference to the appended drawings.

[19] Fig. 1 shows a schematic block diagram of the configuration of a system for providing the portfolio simulation.

[20] As shown in Fig. 1, a system 100 for providing integrated portfolio simulation is connected with data servers 10-1, 10-2 and 10-3 (in the following, 10-1, 10-2 and 10-3 are referred to as "10") such as the stock exchange, and/or stock companies, etc., and computer systems of users 30-1, 30-2 and 30-3 (in the following, 30-1, 30-2 and 30-3 are referred to as "30"), through a wired or a wireless network 20. The user's system 30 is a personal computer system of the user, for example, such as a personal computer, a laptop computer, a PDA, etc., in which installed are pre-determined programs for receiving and displaying information which is transferred by the system 100 for providing integrated portfolio simulation through the wired or the wireless network 20. The data server 10 provides the system 100 for providing integrated portfolio simulat ion with various indexes such as the composite price index of stocks, the KOSPI200 index, etc., data of issue including prices of individual stock issues, etc., and information on derivatives such as futures, options, ELW, etc.

[21] Unlike the conventional system which has provided users with individual analysis data on profit-and-loss for each investment product, the system 100 for providing integrated portfolio simulation of the present invention provides a method for allowing users to understand at a glance variations of profit-and-loss for a plurality of investment products according to fluctuations of the price of a specific product or a specific index (in the following, the price of the specific product or the specific index is referred to as "reference data"). Thus, for example, it is possible to construct an optimum transaction strategy using a single chart. In the following, the specific configuration of the system 100 for providing integrated portfolio simulation will be described in detail.

[22] Fig. 2 shows a schematic block diagram of an example of the configuration of a system 100 for providing integrated portfolio simulation according to an embodiment of the present invention.

[23] The system 100 for providing integrated portfolio simulation includes a data receiving module 110, a trading data receiving module 120, a relation deducing module 130, a profit-and-loss calculating module 140, a corresponding value calculating module 150, a saving module 160, and a displaying module 170. The modules 110 to 170 are connected with each other through a bus 180.

[24] The data receiving module 110 receives data of one selected from a data group including at least the composite price index of stocks, the KOSPI200 index and the present values of stock issues, from a data server such as the stock exchange, the stock companies, etc., through a wired or a wireless network.

[25] The trading data receiving module 120 receives a trading volume and/or a trading price of a trading product, which is an investment product to be bought or sold, as an input. For example, the trading data receiving module may create an interface for allowing a user to input a trading volume and/or a trading price, and provide the interface to the user. [26] The relation deducing module 130 deduces a relation between time- variant fluctuations of a reference data, which is the one selected from the data group, and time- variant price fluctuations of the trading product. [27] For this, the relation deducing module 130 acquires a correlation between the fluctuations of the reference data and the price fluctuations of the trading product. For example, it may deduce a statistical relation between the fluctuations of the reference data and the price fluctuations of the trading product during a pre-determined period of time, and the followings can be used as the statistical relation. [28] L A beta factor

[29] [Equation 1]

[30]

[31] In the following,

JC is a value of the reference data, y is a price of the trading product,

JC is a relative proportion of the JC

Y is a relative proportion of the y

JC is the average of

JC

, and is the average of

Y

. Further,

JC and y may be calculated by [Equation 2] or [Equation 3] in the following.

[32] [Equation 2]

[33]

[34] [Equation 3]

[35]

y_l+ 1

[36] In the following,

is a value of the reference data acquired per unit time during the pre-determined time period,

is a price of the trading product acquired per unit time during the pre-determined time period, i is a number counted per unit time during the pre-determined time period, wherein the i=0 at the latest point of time and i=n-l at the oldest point of time (i.e., O≤i≤n-1), and the n is an integer part of a value acquired by dividing the predetermined time period by the pre-determined unit time.

[37] For example, in case of calculating the beta coefficient using the closing prices during the past ninety days including this day, the n becomes 90.

[38] The beta coefficient β means how sensitively a price of the trading product responds to fluctuations of the reference data. In other words, the larger the beta co- efficient is, the more widely the price of the trading product fluctuates according to the fluctuations of the reference data. [39] 2. A correlation coefficient

[40] [Equation 4]

[41]

[42] The correlation coefficient "correl" means a degree of a correlation between the reference data and a price of the trading product. The correlation coefficient has a value between -1 and +1 (i.e., -l≤correl≤l), and means a positive correlation in case its value is positive, a negative correlation in case its value is negative, and no correlation in case its value is zero. For example, that the correlation efficient "correl" between the two variates is 0.8 means that 80% of one variate fluctuates in the same trend as the other variate fluctuates.

[43] 3. A determination coefficient

[44] [Equation 5]

[45]

[46] 4. A covariance

[47] [Equation 6]

[48]

_COVAR=

-D n

[49] To use the beta coefficient and the correlation coefficient among the statistical relations makes it easy to acquire the price fluctuations of the trading product according to the fluctuations of the reference data.

[50] However, in case the relation deducing module 130 acquires a relation between the fluctuations of the reference data and the price fluctuations of the trading product, it is not necessarily required to use these statistical relations. For example, in case the reference data changes by Δx(%), the price of the trading data may change by CΔx (%) in a simple proportional relation.

[51] The profit- and-los s calculating module 140 calculates profit-and-loss for the price of the trading product on the basis of the price, the trading volume and the trading price of the trading product.

[52] The corresponding value calculating module 150 calculates a price of the trading product corresponding to a value of the reference data on the basis of the relation deduced by the relation deducing module 130. For example, the corresponding value calculating module 150 calculates a price of the trading product corresponding to each value of the reference data while varying values of the reference data. In other words, it projects the price of the trading product on the value of the reference data. Therefore, in case there exist a plurality of trading products, it is possible to project a price of each of the plurality of the trading products on a value of the reference data, by acquiring relations between the price of each of the trading products and the reference data.

[53] If the corresponding value calculating module 150 calculates the price of the trading product corresponding to the value of the reference data and the profit-and-loss calculating module 140 calculates profit-and-loss for the calculated price of the trading product, then it is possible to make the profit-and-loss for the trading product correspond to the value of the reference data. The saving module 160 saves the reference data and the profit-and-loss for the price of the trading product corresponding to the reference data.

[54] The displaying module 170 displays the reference data and the profit-and-loss saved by the saving module 160. For example, the displaying module 170 may display the reference data and the profit-and-loss as numeric data. Otherwise, the displaying module 170 may be a graphing module for providing a profit-and-loss chart. The profit-and-loss chart is an analysis tool for showing variations of profit-and-loss for a price, a trading price and a volume of a trading product, which plots price fluctuations of the product on the horizontal axis and profit-and-loss for the price of the product from transaction on the vertical axis. Conventionally, the profit-and-loss chart plots prices of the trading product on the horizontal axis and profit-and-loss on the vertical axis. However, in the present invention, it plots values of the reference data on the horizontal axis and profit-and-loss for the trading product on the vertical axis. In other words, it is possible to project a profit-and-loss chart which plots prices of the trading product on the horizontal axis and profit-and-loss on the vertical axis, on one which plots values of the reference data on the horizontal axis and profit-and-loss on the vertical axis, using a relation between the reference data and the price of the trading product. Therefore, it is possible to project profit-and-loss charts for a plurality of products and/or stock issues on a profit-and-loss chart which plots values of a common reference data on the horizontal axis. In other words, a price of each of a plurality of products and/or stock issues is projected on a common reference value of the horizontal axis, and profit-and-loss for each is plotted on the Y axis, respectively. As described above, according to the present invention, it is possible to simulate profit- and-loss for a plurality of trading products using a single profit-and-loss chart. Therefore, it is possible to analyze integrated profit-and-loss according to portfolio strategies easily and fast.

[55] Conventionally, as it was possible to draw one profit-and-loss chart for only a product or a market, there has been a problem that a user must decide a trading price, a volume, and a point of time for transaction while watching the development of the price variation for each of a plurality of products which the user is interested in. Therefore, as an amount of data to be analyzed rises rapidly and the analysis takes a long time, it is difficult to construct transaction strategies quickly and exactly. As the system 100 for providing integrated portfolio simulation of the present invention is capable of projecting profit-and-loss charts which are illustrated individually for a plurality of products on a single profit-and-loss chart, it allows users to simulate profit- and-loss for a plurality of products according to portfolio strategies using only one profit-and-loss chart. In other words, the present invention allows user to integrate and manage their own various portfolios in real-time, by creating and providing a profit- and-loss chart which is capable of simulating integrated portfolio strategies for all financial products having different properties, on the basis of a method for acquiring relations between price variations of the financial products, for example, statistical correlations.

[56] In the following, according to the present invention, a method for calculating fluctuations of profit-and-loss for the trading product according to fluctuations of the reference data will be described in detail.

[57] First, the system 100 for providing integrated investment portfolio simulation determines a reference data (S300). The reference data may be not only one of various kinds of indexes such as the composite price index of stocks, the KOSPI200 index, etc., but also a stock price of a specific issue. For example, it may be chosen by the user. In the present example, the KOSPI200 index is set as the reference data. It is desirable to set an underlying asset as the reference data.

[58] Next, the system 100 for providing integrated investment portfolio simulation receives a trading volume and/or a trading price of a trading product, which is a product to be sold or bought, as an input from the user (S310). In the present example, stock option of the Samsung Electronics is set as the trading product.

[59] Next, the system 100 for providing integrated investment portfolio simulation calculates a relation between the KOSPI200 index and the stock price of the Samsung Electronics (S320). It is most desirable to acquire a statistical correlation between fluctuations of the KOSPI200 index and fluctuations of the stock price of the Samsung Electronics during a pre-determined period of time in the past. In the present example, by the above [Equation 1] and [Equation 3], the system 100 for providing integrated investment portfolio simulation calculates the beta coefficient using fluctuations of the closing price of the Samsung Electronics and the KOSPI200 index during the past ninety days.

[60]

[61] [62] [Equation 7] [63]

[64] The beta coefficient means how the stock price of the Samsung Electronics y varies according to fluctuations of the KOSPI200 index x. Therefore, the system 100 for providing integrated investment portfolio simulation may calculate a value of the y corresponding to an arbitrary value of the x by the following equation (S330).

[65] [Equation 8] [66]

[67] In other words, by [Equation 8], it is possible to calculate a stock price of the Samsung Electronics corresponding to the KOSPI200 index. [68] Next, the system 100 for providing integrated investment portfolio simulation calculates profit-and-loss of the stock option of the Samsung Electronics for the stock price of the Samsung Electronics on the basis of the trading price and the trading volume received in S410 (S340). As the system 100 for providing integrated investment portfolio simulation calculates a stock price of the Samsung Electronics corresponding to the KOSPI200 index in S430 and profit-and-loss of the stock options of the Samsung Electronics corresponding to the stock price of the Samsung Electronics in S440, it may make the profit-and-loss of the stock option of the Samsung Electronics correspond to the KOSPI200 index as described in the following table. Next, the systme 100 saves the KOSPI200 index and the profit-and-loss cor^¬ responding to the KOSPI200 index (S350).

[69]

[70] [71] Next, by displaying the KOSPI200 index on the horizontal axis and the profit- and-loss of stock options of the Samsung Electronics from transaction on the vertical axis, it can simulate the profit-and-loss for the trading price and the trading volume decided by the user according to fluctuations of the KOSPI200 index.

[72] In addition, it is checked whether or not there remains a trading product to be analyzed(S360), and if any, operations of S310 to S350 are repeated for the trading product. By displaying fluctuations of the KOSPI200 index on the horizontal axis and the profit-and-loss for each trading product on the vertical axis using the results acquired in S350 (S370), it can simulate variations of profit-and-loss for a plurality of products on a single profit-and-loss chart.

[73] Further, it is possible to reconstruct a profit-and-loss chart by changing the reference data. In specific, by changing the reference data with a stock price of the Samsung Electronics in S300 and repeating operations of S320 to S360, it is possible to obtain a profit-and-loss chart which plots the stock prices of the Samsung Electronics on the horizontal axis. For example, in case of displaying a profit-and-loss chart using a specific reference data, the system 100 provides a user with an interface for allowing the user to select another one as the reference data. If the user selects one different from the existing reference data through the interface, a profit-and-loss chart for the changed reference data can be obtained by setting the selected one as the reference data and repeating operations of S310 to S370.

[74] In addition, it is possible to reconstruct the profit-and-loss chart by changing a trading condition. In specific, it is possible to obtain a profit-and-loss chart under another trading condition by changing the trading price and volume in S310 and repeating operations of S320 to S360.

[75] Fig. 4 shows a profit-and-loss chart for stock index call options, stock index futures, stocks of the Samsung Electronics, stock options of the Samsung Electronics, ELW of the Samsung Electronics, ELW of the Kookmin Bank and stocks of the Kookmin Bank as an example of a profit-and-loss chart provided by a system 100 for providing integrated portfolio simulation according to an embodiment of the present invention. The lines ® to © in Fig. 4 indicate fluctuations of profit-and-loss for purchase of the index call options, sale of the index futures, purchase of the stocks of the Samsung Electronics, purchase of the stock options of the Samsung Electronics, purchase of the ELW of the Samsung Electronics, purchase of the ELW of the Kookmin Bank, and sale of the stocks of the Kookmin Bank, according to fluctuations of the KOSPI200 index, respectively. In the present example, a trading volume and a trading price are input by the user. Fig. 4 allows the user to understand at a glance variations of profit- and-loss for each product according to variations of the KOSPI200 index.

[76] Fig. 5 shows a composite line obtained by composing the lines ® to © of Fig. 4, together with the lines ® to ©. In case of trading each of a plurality of products according to a trading price and a trading volume set currently by the user for the product, it is possible to estimate variations of profit-and-loss according to variations of the KOSPI200 index using the composite line of Fig. 5. Using the composite line, it is possible to construct an integrated portfolio strategy for a plurality of products, which makes a margin maximum and a loss minimum.

[77]

[78] Although the present invention has been described by way of exemplary embodiments, it should be understood that the embodiments are not intended to limit the present invention. The scope of the present invention is defined only by the appended claims because those skilled in the art might make many changes and substitutions without departing from the spirit and the scope of the present invention.

[79]

Industrial Applicability [80] According to the present invention, it is possible to provide integrated portfolio simulation by projecting fluctuations of profit-and-loss according to price fluctuations of various investment products such as stocks, futures, options, and ELW, on one of a common reference data.

[81] In addition, for any kinds of products, it is possible to share the horizontal axis of a profit-and-loss chart with each other of the products in case of creating the profit- and-loss chart, and thus, it is possible to simulate and analyze a plurality of products at once using one profit-and-loss chart.

Claims

[1] A system for providing integrated investment portfolio simulation for investment products such as stocks, futures, options, and the like, comprising: a data receiving module for receiving data of one selected from a data group including at least the composite price index of stocks, the KOSPI200 index, and the present values of stock issues, through a wired or a wireless network; a trading data receiving module for receiving a trading volume and/or a trading price of a trading product, which is an investment product to be bought or sold, as an input; a relation deducing module for deducing a relation between time-variant fluctuations of a reference data, which is the one selected from the data group, and time-variant price fluctuations of the trading product; a corresponding value calculating module for calculating a price of the trading product corresponding to a pre-determined value of the reference data on the basis of the relation deduced by said relation deducing module; and a profit- and-los s calculating module for calculating profit-and-loss for the price of the trading product calculated by said corresponding value calculating module on the basis of the price, the trading volume, and the trading price of the trading product.

[2] A system as claimed in claim 1, wherein, for each of a plurality of trading products included in the portfolio, said trading data receiving module receives a trading volume and/or a trading price of the trading product as an input, said relation deducing module deduces a relation between time-variant fluctuations of the reference data and time- variant price fluctuations of the trading product, said corresponding value calculating module calculates a price of the trading product corresponding to a pre-determined value of the reference data on the basis of the relation deduced by said relation deducing module, and said profit-and-loss calculating module calculates profit-and-loss for the price of the trading product calculated by said corresponding value calculating module on the basis of the price, the trading volume, and the trading price of the trading product.

[3] A system as claimed in claim 1 or claim 2, wherein said relation deducing module acquires a correlation between fluctuations of the reference data and price fluctuations of the trading product during a pre-determined period of time in the past.

[4] A system as claimed in claim 3, wherein the correlation between the fluctuations of the reference data

and the fluctuations of a price of the trading product y is calculated by

Here,

JC is a relative proportion of the

Y is a relative proportion of the y

JC is the average of

JC

, and

^~Ϋ is the average of

Y

[5] A system as claimed in claim 4, wherein said corresponding value calculating module calculates the price of the trading product corresponding to the value of the reference data by

Here,

is a series of the reference data and

is a price of the trading product corresponding to

X

J

[6] A system as claimed in claim 3, wherein the correlation between the fluctuations of the reference data

JC and the fluctuations of a price of the trading product

y is calculated by

Here,

JC is a relative proportion of the

Y is a relative proportion of the y is the average of

, and

^~Ϋ is the average of

Y

[7] A system as claimed in claim 6, wherein said corresponding value calculating module calculates the price of the trading product corresponding to the value of the reference data by y =y_jΛ+ωml)({x_fx_jΛ)

Here,

^xj is a series of the reference data and

y^j is a price of the trading product corresponding to

[8] A system as claimed in claim 4 or claim 6, wherein

Here,

^X i is a value of the reference data acquired per unit time during the pre-determined time period, is a price of the trading product acquired per unit time during the pre-determined time period, i is a number counted per unit time during the pre-determined time period, wherein the i=0 at the latest point of time and i=n- 1 at the oldest point of time (i.e., 0<i≤n-l), and the n is an integer part of a value acquired by dividing the pre-determined time period by the pre-determined unit time.

[9] A system as claimed in claim 4 or claim 6, wherein

Here,

^X i is a value of the reference data acquired per unit time during the pre-determined time period,

y_* is a price of the trading product acquired per unit time during the pre-determined time period, i is a number counted per unit time during the pre-determined time period, wherein the i=0 at the latest point of time and i=n- 1 at the oldest point of time (i.e., 0<i≤n-l), and the n is an integer part of a value acquired by dividing the pre-determined time period by the pre-determined unit time.

[10] A system as claimed in claim 3, wherein said relation deducing module calculates a constant C by

^xr^xi- i

for

0 < /<w- l

(the n is an integer part of a value acquired by dividing the pre-determined time period by the pre-determined unit time), and said corresponding value calculating module calculates the price of the trading product corresponding to the value of the reference data by

(^χj-^χj-0 Here,

^Xi is a value of the reference data acquired per unit time during the pre-determined time period,

is a price of the trading product acquired per unit time during the pre-determined time period, i is a number counted per unit time during the pre-determined time period, wherein the i=0 at the latest point of time and i=n- 1 at the oldest point of time (i.e., 0<i≤n-l), and the n is an integer part of a value acquired by dividing the pre-determined time period by the pre-determined unit time.

[11] A system as claimed in claim 1, further comprising: a graphing module for drawing a graph illustrating profit- and-loss for a price of the trading product corresponding to a pre-determined value of the reference data, which plots values of the reference data on the horizontal axis and profit- and-loss on the vertical axis.

[12] A system as claimed in claim 2, wherein said corresponding value calculating module calculates a price of the trading product corresponding to each value of the reference data while varying values of the reference data.

[13] A system as claimed in claim 2 or claim 12, further comprising: an adding module for calculating the sum of profit-and-loss calculated correspondingly to the values of the reference data, for each of the plurality of trading products included in the portfolio.

[14] A system as claimed in claim 12, further comprising: a graphing module for drawing a graph illustrating profit-and-loss for a price of the trading product corresponding to a value of the reference data, for each of the plurality of trading products included in the portfolio, which plots values of the reference data on the horizontal axis and profit-and-loss on the vertical axis.

[15] A system as claimed in claim 14, further comprising: an adding module for calculating the sum of profit-and-loss calculated correspondingly to the values of the reference data, for each of the plurality of trading products included in the portfolio, wherein said graphing module creates a composite graph of the profit-and-loss graphs of the plurality of trading products using the sum of profit-and-loss calculated by said adding module.

[16] A system as claimed in claim 1 or claim 2, further comprising: a reference data setting module for setting one selected from the data group by a user as the reference data.

[17] A method for simulating integrated investment portfolio for investment products such as stocks, futures, options, and the like, comprising steps of:

(1) receiving data of one selected from a data group including at least the composite price index of stocks, the KOSPI200 index, and the present values of stock issues, through a wired or a wireless network;

(2) receiving a trading volume and/or a trading price of a trading product, which is an investment product to be bought or sold, as an input;

(3) deducing a relation between time- variant fluctuations of a reference data, which is the one selected from the data group, and time- variant price fluctuations of the trading product;

(4) calculating a price of the trading product corresponding to a value of the reference data on the basis of the deduced relation; and

(5) calculating profit-and-loss for the calculated price of the trading product on the basis of the price, the trading volume, and the trading price of the trading product.

[18] A method as claimed in claim 17, further comprising a step of:

(6) repeating operations of said steps (3) to (5) using a common reference data for each of a plurality of trading products.

[19] A method as claimed in claim 17 or claim 18, wherein, in said step (3), a correlation is acquired between fluctuations of the reference data and price fluctuations of the trading product during a pre-determined period of time in the past.

[20] A method as claimed in claim 19, wherein the correlation between the fluctuations of the reference data

JC and the fluctuations of a price of the trading product y is calculated by

Ti,^χ-^χ)²

Here,

JC is a relative proportion of the JC

Y is a relative proportion of the

y

JC is the average of

JC

, and

is the average of

Y

[21] A method as claimed in claim 20, wherein, in said step (4), the price of the trading product corresponding to the value of the reference data is calculated by

Here,

is a series of the reference data and

y^j is a price of the trading product corresponding to

DC

J

[22] A method as claimed in claim 19, wherein the correlation between the fluctuations of the reference data

JC and the fluctuations of a price of the trading product y is calculated by

Here,

JC is a relative proportion of the

Y is a relative proportion of the y

JC is the average of

JC

, and

^~Ύ is the average of

Y

[23] A method as claimed in claim 22, wherein, in said step (4), the price of the trading product corresponding to the value of the reference data is calculated by

Here, ^XJ is a series of the reference data and

y^j is a price of the trading product corresponding to

X_j

[24] A method as claimed in claim 20 or claim 22, wherein

Here,

is a value of the reference data acquired per unit time during the pre-determined time period, y,- is a price of the trading product acquired per unit time during the pre-determined time period, i is a number counted per unit time during the pre-determined time period, wherein the i=0 at the latest point of time and i=n- 1 at the oldest point of time (i.e., 0<i≤n-l), and the n is an integer part of a value acquired by dividing the pre-determined time period by the pre-determined unit time.

[25] A method as claimed in claim 20 or claim 22, wherein

^χr^χi+ι _v_ yry_i+ι

Here,

yt is a price of the trading product acquired per unit time during the pre-determined time period, i is a number counted per unit time during the pre-determined time period, wherein the i=0 at the latest point of time and i=n- 1 at the oldest point of time (i.e., 0<i≤n-l), and the n is an integer part of a value acquired by dividing the pre-determined time period by the pre-determined unit time.

[26] A method as claimed in claim 19, wherein, in said step (3), a constant C is calculated by

^Xr ~^Xr- l

C=

for

0 < /<w- l

(the n is an integer part of a value acquired by dividing the pre-determined time period by the pre-determined unit time), and in said step (4), the price of the trading product corresponding to the value of the reference data is calculated by

>> =.>> _! + CX (X .-* _!)

Here,

[27] A method as claimed in claim 17, further comprising a step of:

(7) drawing a graph illustrating profit-and-loss for a price of the trading product corresponding to a pre-determined value of the reference data, which plots values of the reference data on the horizontal axis and profit-and-loss on the vertical axis.

[28] A method as claimed in claim 18, wherein, in said step (4), a price of the trading product corresponding to each value of the reference data is calculated while values of the reference data are varied.

[29] A method as claimed in claim 18 or claim 28, further comprising: an adding module for calculating the sum of profit-and-loss calculated correspondingly to the values of the reference data, for each of the plurality of trading products included in the portfolio.

[30] A method as claimed in claim 28, further comprising a step of:

(7) drawing a graph illustrating profit-and-loss for a price of the trading product corresponding to a value of the reference data, for each of the plurality of trading products included in the portfolio, which plots values of the reference data on the horizontal axis and profit-and-loss on the vertical axis.

[31] A method as claimed in claim 30, further comprising a step of:

(5-1) calculating the sum of profit-and-loss calculated correspondingly to the values of the reference data, for each of the plurality of trading products included in the portfolio, wherein, in said step (7), a composite graph of the profit-and-loss graphs of the plurality of trading products is created using the sum of profit-and-loss calculated in said step (5-1).

[32] A method as claimed in claim 17 or claim 18, further comprising a step of:

(2-1) setting one selected from the data group by a user as the reference data.

[33] A method as claimed in claim 17 or claim 18, further comprising steps of:

(8-1) changing the reference data set currently with specific one selected from the data group by the user; and

(8-2) repeating operations of said steps (3) to (5) on the basis of the changed reference data.