Geleneksel ve dijital finansal araçlarda çeşitlendirmenin yatırım portföyünün risklerinin azaltılması ve getirilerinin artırılmasına etkisi

The most fundamental issue in portfolio is determining which assets to include, in what quantities, and how often to rebalance the portfolio in light of changing market and economic conditions. The objective of each investor is to build a portfolio that generates the best possible return for the least level of risk, or that provides higher returns for the same level of risk. Consequently, the return and risk of the portfolio to be constructed are the most crucial factors affecting investing decisions. The purpose of this study is to determine the impact of diversifying traditional and digital financial tools on the return and risk of the portfolio. In order to achieve the research objective, daily secondary data from the US financial markets between August 7, 2015 and December 31, 2021 were collected to determine the most appropriate portfolio among the three portfolios to be created: traditional portfolio (Oil, Gold, S&P Stocks, Dollar), digital portfolio (Bitcoin, Ripple, Ethereum) and diversified portfolio. The return and risk of each of the three portfolios were calculated using the Sharpe ratio with Excel's Solver subprogram. In addition, the E-Views program was used to test the normal distribution and stationarity of the data, as well as a series of standard tests to determine the existence of the necessary conditions to test the working model. In order to determine the relationship between variables and the effect of independent variables on dependent variables, various statistical tests were applied using the SPSS program. As a result of the analysis, an optimal portfolio was obtained with a diversification portfolio formed by investing in both traditional and digital financial tools. Traditional and digital financial tools have a significant impact on the risk and return of the investment portfolio. As a result, it is suggested that investors and portfolio managers should balance between digital and traditional financial tools and focus on establishing appropriate fundamentals and regulations for investing.