코로나-19 전후의 자산포트폴리오 변동에 관한 고찰

Abstract

In this study, we considered to find out how COVID-19 has affected an individual's asset portfolio. A survey was conducted on the impact of COVID-19 on the asset portfolio of 48 customers in Seoul who trade M Securities. As a result of the analysis, first, the proportion of high-risk assets (average) of survey respondents increased by only 3.3%, from 27.4% at the end of 2019 to 30.7% at the end of 2021, despite the high risk of the market due to COVID-19. Second, the risk of the market has risen sharply due to COVID-19, and the explanatory variables that can explain the results of the survey to further increase the proportion of high-risk assets such as stocks, funds, and corporate bonds at the end of 2021 are medium-risk assets 19 and showed an investment propensity. Third, the R-squared of the final regression model was 0.741. Medium-risk assets19 and investment propensity accounted for 74% of the share of high-risk assets at the end of 2021. On the other hand, more than half of the 48 people, 25 (52.0%), had a risk-seeking type of investment propensity. Despite a significant increase in market risk, the proportion of low-risk and medium-risk assets was reduced and the proportion of high-risk assets increased in 2021 compared to the end of 2019. A variety of investment instruments such as ETFs, futures, options, overseas stocks, and overseas derivatives have been created, which has great economic significance in that it used a period of high volatility as an opportunity for asset growth.