{"id":39438,"date":"2018-07-18T17:08:19","date_gmt":"2018-07-18T08:08:19","guid":{"rendered":"https:\/\/www.invast.jp\/blogs\/?p=39438"},"modified":"2019-11-16T19:27:49","modified_gmt":"2019-11-16T10:27:49","slug":"%e5%be%b9%e5%ba%95%e6%af%94%e8%bc%83%ef%bc%81%e3%83%a9%e3%82%a4%e3%82%b8%e3%83%b3%e3%82%b0%e3%81%a8%e3%82%b9%e3%83%aa%e3%83%bc%e3%82%ab%e3%83%bc%e3%83%89%e3%81%af%e3%81%a9%e3%81%86%e9%81%95%e3%81%86","status":"publish","type":"post","link":"https:\/\/www.invast.jp\/blogs\/etf\/rising-vs-threecard","title":{"rendered":"\u5fb9\u5e95\u6bd4\u8f03\uff01\u30e9\u30a4\u30b8\u30f3\u30b0\u3068\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u306f\u3069\u3046\u9055\u3046\uff1f"},"content":{"rendered":"<p>\u3053\u3093\u306b\u3061\u306f\u3001\u30c8\u30e9\u30a4\u30aa\u30fc\u30c8ETF\u958b\u767a\u30c1\u30fc\u30e0\u3067\u3059\uff01<\/p>\n<p>\u5148\u6708\u30ea\u30ea\u30fc\u30b9\u3055\u308c\u305f\u65b0\u30ed\u30b8\u30c3\u30af\u30fb\u30e9\u30a4\u30b8\u30f3\u30b0\u3067\u3059\u304c\u3001\u65e9\u901f\u591a\u304f\u306e\u53cd\u97ff\u3092\u3044\u305f\u3060\u304d\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002<br \/>\u305d\u306e\u4e2d\u3067\u3001\u30ea\u30ea\u30fc\u30b9\u6642\u306b\u30e9\u30a4\u30b8\u30f3\u30b0\u3068\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u3092\u6bd4\u8f03\u3057\u305f\u5834\u5408\u3001\u4e0a\u6607\u5c40\u9762\u306b\u304a\u3044\u3066\u306f<strong>\u30e9\u30a4\u30b8\u30f3\u30b0\u306f\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u306e\uff12\u500d\u3001\u8ffd\u5c3e\u3068\u6bd4\u8f03\u3059\u308b\u3068\uff14\u500d\u4ee5\u4e0a\u5229\u76ca\u3092\u51fa\u3059\u3053\u3068\u3082\u53ef\u80fd<\/strong>\uff08<span><a href=\"https:\/\/www.invast.jp\/blogs\/etf\/newlogic-rising\" target=\"_blank\" rel=\"noopener\">https:\/\/www.invast.jp\/blogs\/etf\/newlogic-rising<\/a><\/span>\uff09\u3068\u3044\u3046\u3054\u7d39\u4ecb\u3092\u3057\u305f\u3068\u3053\u308d\u3001\u5229\u76ca\u3092\u591a\u304f\u51fa\u305b\u308b\u3068\u3044\u3046\u3053\u3068\u306f\u305d\u306e\u5206\u30ea\u30b9\u30af\u3082\uff12\u500d\u306b\u306a\u308b\u306e\u3067\u306f\u306a\u3044\u304b\u30fb\u30fb\u30fb\uff1f\u3068\u3044\u3046\u58f0\u3092\u3044\u305f\u3060\u304d\u307e\u3057\u305f\u3002\u305d\u3053\u3067\u4eca\u65e5\u306f\u3001\uff12\u3064\u306e\u30ed\u30b8\u30c3\u30af\u306e\u9055\u3044\u306b\u3064\u3044\u3066\u3054\u7d39\u4ecb\u3055\u305b\u3066\u3044\u305f\u3060\u304d\u307e\u3059\u3002\u3061\u3087\u3063\u3068\u96e3\u3057\u3044\u306a\u3068\u611f\u3058\u308b\u65b9\u306f\u76f4\u63a5\u300e\uff14\uff0e\u30e9\u30a4\u30b8\u30f3\u30b0\u3068\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u306e\u307e\u3068\u3081\u300f\u3092\u8aad\u3093\u3067\u3044\u305f\u3060\u3051\u308c\u3070<span>OK<\/span>\u3067\u3059\u3002<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 ez-toc-wrap-center counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">\u76ee\u6b21<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.invast.jp\/blogs\/etf\/rising-vs-threecard\/#%EF%BC%91%EF%BC%8E%E3%83%A9%E3%82%A4%E3%82%B8%E3%83%B3%E3%82%B0%E3%81%A8%E3%82%B9%E3%83%AA%E3%83%BC%E3%82%AB%E3%83%BC%E3%83%89%E3%80%81%E3%81%A9%E3%81%86%E3%82%84%E3%81%A3%E3%81%A6%E6%AF%94%E8%BC%83%E3%81%99%E3%82%8B%EF%BC%9F\" >\uff11\uff0e\u30e9\u30a4\u30b8\u30f3\u30b0\u3068\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u3001\u3069\u3046\u3084\u3063\u3066\u6bd4\u8f03\u3059\u308b\uff1f<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.invast.jp\/blogs\/etf\/rising-vs-threecard\/#1-1%E6%AF%94%E8%BC%83%E6%96%B9%E6%B3%95%E3%81%AF%E7%A2%BA%E7%8E%87%E5%88%86%E5%B8%83%E3%81%A8VaR99\" >1-1.\u6bd4\u8f03\u65b9\u6cd5\u306f\u78ba\u7387\u5206\u5e03\u3068VaR99%<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.invast.jp\/blogs\/etf\/rising-vs-threecard\/#1-2VaR99%EF%BC%85%E3%81%A8%E3%81%AF%EF%BC%9F\" >1-2.VaR99\uff05\u3068\u306f\uff1f<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.invast.jp\/blogs\/etf\/rising-vs-threecard\/#%EF%BC%92%EF%BC%8E%E7%B7%8F%E5%90%88%E6%90%8D%E7%9B%8A%E3%81%A7%E3%81%AE%E6%AF%94%E8%BC%83\" >\uff12\uff0e\u7dcf\u5408\u640d\u76ca\u3067\u306e\u6bd4\u8f03<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.invast.jp\/blogs\/etf\/rising-vs-threecard\/#%EF%BC%93%EF%BC%8E%E3%83%A9%E3%82%A4%E3%82%B8%E3%83%B3%E3%82%B0%E3%81%A8%E3%82%B9%E3%83%AA%E3%83%BC%E3%82%AB%E3%83%BC%E3%83%89%E3%81%AE%E9%81%95%E3%81%84%E3%82%92%E5%AE%9F%E7%8F%BE%E6%90%8D%E7%9B%8A%E3%81%A8%E8%A9%95%E4%BE%A1%E6%90%8D%E7%9B%8A%E3%81%A7%E7%A2%BA%E8%AA%8D\" >\uff13\uff0e\u30e9\u30a4\u30b8\u30f3\u30b0\u3068\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u306e\u9055\u3044\u3092\u5b9f\u73fe\u640d\u76ca\u3068\u8a55\u4fa1\u640d\u76ca\u3067\u78ba\u8a8d<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.invast.jp\/blogs\/etf\/rising-vs-threecard\/#3-1%EF%BC%8E%E5%AE%9F%E7%8F%BE%E6%90%8D%E7%9B%8A%E3%81%AE%E9%81%95%E3%81%84\" >3-1\uff0e\u5b9f\u73fe\u640d\u76ca\u306e\u9055\u3044<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.invast.jp\/blogs\/etf\/rising-vs-threecard\/#3-2%EF%BC%8E%E8%A9%95%E4%BE%A1%E6%90%8D%E7%9B%8A%E3%81%AE%E9%81%95%E3%81%84\" >3-2\uff0e\u8a55\u4fa1\u640d\u76ca\u306e\u9055\u3044<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.invast.jp\/blogs\/etf\/rising-vs-threecard\/#%EF%BC%94%EF%BC%8E%E3%83%A9%E3%82%A4%E3%82%B8%E3%83%B3%E3%82%B0%E3%81%A8%E3%82%B9%E3%83%AA%E3%83%BC%E3%82%AB%E3%83%BC%E3%83%89%E3%81%AE%E9%81%95%E3%81%84%E3%81%BE%E3%81%A8%E3%82%81\" >\uff14\uff0e\u30e9\u30a4\u30b8\u30f3\u30b0\u3068\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u306e\u9055\u3044\u307e\u3068\u3081<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.invast.jp\/blogs\/etf\/rising-vs-threecard\/#%E5%88%86%E6%9E%90%E6%89%8B%E6%B3%95%E3%81%AB%E3%81%A4%E3%81%84%E3%81%A6\" >\u5206\u6790\u624b\u6cd5\u306b\u3064\u3044\u3066<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"%EF%BC%91%EF%BC%8E%E3%83%A9%E3%82%A4%E3%82%B8%E3%83%B3%E3%82%B0%E3%81%A8%E3%82%B9%E3%83%AA%E3%83%BC%E3%82%AB%E3%83%BC%E3%83%89%E3%80%81%E3%81%A9%E3%81%86%E3%82%84%E3%81%A3%E3%81%A6%E6%AF%94%E8%BC%83%E3%81%99%E3%82%8B%EF%BC%9F\"><\/span><strong>\uff11\uff0e\u30e9\u30a4\u30b8\u30f3\u30b0\u3068\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u3001\u3069\u3046\u3084\u3063\u3066\u6bd4\u8f03\u3059\u308b\uff1f<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>\u76f8\u5834\u306f\u523b\u4e00\u523b\u3068\u5909\u5316\u3057\u3001\uff11\u5ea6\u3068\u3057\u3066\u307e\u3063\u305f\u304f\u540c\u3058\u76f8\u5834\u304c\u6765\u308b\u3053\u3068\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u305d\u306e\u4e2d\u3067\u3001\u30e9\u30a4\u30b8\u30f3\u30b0\u3068\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u306e\u30ea\u30b9\u30af\u3084\u9055\u3044\u3092\u3054\u8aac\u660e\u3059\u308b\u5834\u5408\u3069\u306e\u3088\u3046\u306a\u65b9\u6cd5\u304c\u9069\u3057\u3066\u3044\u308b\u304b\u3092\u691c\u8a0e\u3057\u305f\u7d50\u679c\u3001\u300e\u30e9\u30a4\u30b8\u30f3\u30b0\u3068\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u3092\uff11\u5e74\u9593\uff08\uff12\uff14\uff10\u65e5\uff09\u7d99\u7d9a\u3057\u3066\u904b\u7528\u3059\u308b\u300f\u30b7\u30df\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u3092\uff11\u4e07\u901a\u308a\u306e\u76f8\u5834\u3067\u884c\u3044\u3001\u3069\u306e\u3088\u3046\u306a\u7279\u5fb4\u306e\u9055\u3044\u304c\u3042\u308b\u304b\u3092\u5c0e\u304d\u51fa\u3059\u3053\u3068\u306b\u3057\u307e\u3057\u305f\u3002\u3053\u308c\u306f\u3001\u4e0a\u6607\u30fb\u4e0b\u843d\u3092\u554f\u308f\u305a\u69d8\u3005\u306a\u76f8\u5834\u72b6\u6cc1\u4e0b\u3067\u81ea\u52d5\u58f2\u8cb7\u3092\u7a3c\u52d5\u3055\u305b\u7d9a\u3051\u308b\u3001\u3068\u3044\u3046\u60f3\u5b9a\u3067\u3059\u3002<\/p>\n<h3><span class=\"ez-toc-section\" id=\"1-1%E6%AF%94%E8%BC%83%E6%96%B9%E6%B3%95%E3%81%AF%E7%A2%BA%E7%8E%87%E5%88%86%E5%B8%83%E3%81%A8VaR99\"><\/span>1-1.\u6bd4\u8f03\u65b9\u6cd5\u306f\u78ba\u7387\u5206\u5e03\u3068<span>VaR99%<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\u7279\u5fb4\u306e\u6bd4\u8f03\u306f\u3001\u30b7\u30df\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u304b\u3089\u5f97\u3089\u308c\u308b\u640d\u5931\u984d\u306e\u78ba\u7387\u5206\u5e03\u3092\u6bd4\u8f03\u3059\u308b\u3053\u3068\u3067\u884c\u3044\u307e\u3059\u3002\u640d\u76ca\u984d\u306e\u78ba\u7387\u5206\u5e03\u6bd4\u8f03<span>&#8230;<\/span>\u3068\u3044\u3046\u3068\u96e3\u3057\u305d\u3046\u3067\u3059\u304c\u3001\u7279\u306b\u96e3\u3057\u3044\u3053\u3068\u306f\u7121\u304f\u3001\u300c\u640d\u76ca\u304c\u25cb\u25cb\u5186\uff5e\u25b3\u25b3\u5186\u3068\u306a\u308b\u78ba\u7387\u306f\u3001\u30e9\u30a4\u30b8\u30f3\u30b0\u304c\u25a1\u25a1\uff05\u306b\u5bfe\u3057\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u306f\u00d7\u00d7\uff05\u300d\u3068\u3044\u3046\u3082\u306e\u3092\u6c42\u3081\u308b\u4f5c\u696d\u306b\u306a\u308a\u307e\u3059\u3002\u307e\u305f\u3001\u4eca\u56de\u306f\u305d\u308c\u306b\u52a0\u3048<span>VaR99<\/span>\uff05\u3082\u6bd4\u8f03\u3059\u308b\u3053\u3068\u306b\u3057\u307e\u3057\u305f\u3002<\/p>\n<h3><span class=\"ez-toc-section\" id=\"1-2VaR99%EF%BC%85%E3%81%A8%E3%81%AF%EF%BC%9F\"><\/span>1-2.VaR99\uff05\u3068\u306f\uff1f<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Value at Risk 99\uff05\uff08\u30d0\u30ea\u30e5\u30fc\u30a2\u30c3\u30c8\u30ea\u30b9\u30af\uff19\uff19\u30d1\u30fc\u30bb\u30f3\u30c8\u3001\u3082\u3057\u304f\u306f\u30d0\u30fc\uff19\uff19\u30d1\u30fc\u30bb\u30f3\u30c8\u3068\u8aad\u3080\uff09\u3092\u6307\u3057\u3001\u65b0\u805e\u7b49\u3067\u306f\u305f\u307e\u306b\u300c\uff11\uff10\uff10\u5e74\u306b\u4e00\u5ea6\u7a0b\u5ea6\u306e\u5927\u640d\u5931\u300d\u3068\u8868\u73fe\u3055\u308c\u305f\u308a\u3059\u308b\u30ea\u30b9\u30af\u6307\u6a19\u3067\u3059\u3002<span>100<\/span>\u500b\u306e\u30b7\u30df\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u306e\u4e2d\u306e\uff19\uff19\u756a\u76ee\u306b\u60aa\u3044\u30b7\u30ca\u30ea\u30aa\u304c\u3069\u308c\u304b\u3001\u3092\u7b97\u51fa\u3059\u308b\u3053\u3068\u3067\u6700\u5927\u3069\u308c\u304f\u3089\u3044\u306e\u640d\u5931\u304c\u767a\u751f\u3057\u5f97\u308b\u304b\u3092\u4e88\u60f3\u3057\u307e\u3059\u3002\u4eca\u56de\u306f\uff11\u4e07\u901a\u308a\u306e\u30b7\u30ca\u30ea\u30aa\u3092\u60f3\u5b9a\u3057\u3066\u3044\u308b\u306e\u3067<span>VaR99%<\/span>\u306f<span>9900<\/span>\u756a\u76ee\u306b\u60aa\u3044\u30b7\u30ca\u30ea\u30aa\u3068\u306a\u308a\u307e\u3059\u3002\u8981\u3059\u308b\u306b\u3001\uff11\uff10\uff10\u5e74\u306b\u4e00\u5ea6\u306e\u5927\u640d\u5931\u304c\u767a\u751f\u3059\u308b\u3088\u3046\u306a\u76f8\u5834\u306e\u4e2d\u3067\u3001\u30e9\u30a4\u30b8\u30f3\u30b0\u3068\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u306b\u306f\u3069\u306e\u3088\u3046\u306a\u9055\u3044\u304c\u51fa\u308b\u304b\uff1f\uff1f\u3068\u3044\u3046\u8abf\u67fb\u3067\u3059\u3002<\/p>\n<p>\u53c2\u8003\u3000<span>VaR<\/span>\u3068\u306f<span>\u2192<a href=\"https:\/\/www.newton-consulting.co.jp\/bcmnavi\/glossary\/VaR.html\" target=\"_blank\" rel=\"noopener\">https:\/\/www.newton-consulting.co.jp\/bcmnavi\/glossary\/VaR.html<\/a><br \/><\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"%EF%BC%92%EF%BC%8E%E7%B7%8F%E5%90%88%E6%90%8D%E7%9B%8A%E3%81%A7%E3%81%AE%E6%AF%94%E8%BC%83\"><\/span><strong>\uff12\uff0e\u7dcf\u5408\u640d\u76ca\u3067\u306e\u6bd4\u8f03<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>\u3053\u306e\u30b0\u30e9\u30d5\u306f\u3001\u7dcf\u5408\u640d\u76ca\u6bd4\u8f03\uff08\u5b9f\u73fe\u5229\u76ca\u304b\u3089\u8a55\u4fa1\u640d\u3092\u5f15\u3044\u305f\u30c8\u30fc\u30bf\u30eb\u3067\u306e\u6bd4\u8f03\uff09\u3092\u6bd4\u3079\u305f\u5834\u5408\u3001\u305d\u308c\u305e\u308c\u306e\u30ed\u30b8\u30c3\u30af\u306e\u78ba\u7387\u5206\u5e03\uff08\u8d64\u7dda\u3068\u9752\u7dda\uff09\u3092\u66f2\u7dda\u30b0\u30e9\u30d5\u3067\u3001<span>VaR99%=<\/span>\uff11\uff10\uff10\u5e74\u306b\u4e00\u5ea6\u306e\u5927\u640d\u5931\u304c\u8d77\u304d\u305f\u5834\u5408\u306e\u640d\u5931\u984d\uff08\u9ec4\u8272\u7dda\u3068\u6c34\u8272\u7dda\uff09\u3092\u7e26\u7dda\u3067\u793a\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.invast.jp\/blogs\/wp-content\/uploads\/2018\/07\/692760ff27509e227d082176fe3b5b92.jpg\" alt=\"\" width=\"830\" height=\"661\" class=\"alignnone size-full wp-image-39446\" srcset=\"https:\/\/www.invast.jp\/blogs\/wp-content\/uploads\/2018\/07\/692760ff27509e227d082176fe3b5b92.jpg 830w, https:\/\/www.invast.jp\/blogs\/wp-content\/uploads\/2018\/07\/692760ff27509e227d082176fe3b5b92-768x612.jpg 768w, https:\/\/www.invast.jp\/blogs\/wp-content\/uploads\/2018\/07\/692760ff27509e227d082176fe3b5b92-269x214.jpg 269w, https:\/\/www.invast.jp\/blogs\/wp-content\/uploads\/2018\/07\/692760ff27509e227d082176fe3b5b92-282x225.jpg 282w\" sizes=\"auto, (max-width: 830px) 100vw, 830px\" \/><\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"104\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"217\">\n<p>\u7d50\u679c<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"104\">\n<p>\u78ba\u7387\u5206\u5e03\u6bd4\u8f03<\/p>\n<\/td>\n<td width=\"217\">\n<p>\u30e9\u30a4\u30b8\u30f3\u30b0\u3068\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u306b\u306f\u307b\u3068\u3093\u3069\u5dee\u304c\u898b\u3089\u308c\u307e\u305b\u3093\u3002<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"104\">\n<p>VaR99\uff05\u6bd4\u8f03<\/p>\n<\/td>\n<td width=\"217\">\n<p>100\u5e74\u306b<span>1<\/span>\u56de\u7a0b\u5ea6\u306e\u5927\u640d\u5931\u306b\u304a\u3044\u3066\u3082\u3001\u30e9\u30a4\u30b8\u30f3\u30b0\u3068\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u306e\u7dcf\u5408\u640d\u76ca\u306b\u306f\u307b\u3068\u3093\u3069\u5dee\u304c\u3042\u308a\u307e\u305b\u3093\u3067\u3057\u305f\u3002<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u3071\u3063\u3068\u898b\u3001\u307b\u307c\u5dee\u304c\u306a\u3044\u3088\u3046\u306b\u898b\u3048\u307e\u3059\u304c\u3001\u5b9f\u306f\u305d\u306e\u5185\u8a33\u306b\u306f\u9055\u3044\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"%EF%BC%93%EF%BC%8E%E3%83%A9%E3%82%A4%E3%82%B8%E3%83%B3%E3%82%B0%E3%81%A8%E3%82%B9%E3%83%AA%E3%83%BC%E3%82%AB%E3%83%BC%E3%83%89%E3%81%AE%E9%81%95%E3%81%84%E3%82%92%E5%AE%9F%E7%8F%BE%E6%90%8D%E7%9B%8A%E3%81%A8%E8%A9%95%E4%BE%A1%E6%90%8D%E7%9B%8A%E3%81%A7%E7%A2%BA%E8%AA%8D\"><\/span><strong>\uff13\uff0e\u30e9\u30a4\u30b8\u30f3\u30b0\u3068\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u306e\u9055\u3044\u3092\u5b9f\u73fe\u640d\u76ca\u3068\u8a55\u4fa1\u640d\u76ca\u3067\u78ba\u8a8d<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>\u7dcf\u5408\u640d\u76ca\u3067\u306f\u307b\u3068\u3093\u3069\u5dee\u304c\u898b\u3089\u308c\u306a\u304b\u3063\u305f\u30e9\u30a4\u30b8\u30f3\u30b0\u3068\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u3002\u3053\u308c\u3067\u306f\u4e21\u8005\u306b\u9055\u3044\u304c\u306a\u3044\u3088\u3046\u306b\u898b\u3048\u307e\u3059\u304c\u3001\u5185\u8a33\u306e\u5b9f\u73fe\u640d\u76ca\u3068\u8a55\u4fa1\u640d\u76ca\u306b\u9055\u3044\u304c\u3042\u308a\u307e\u3059\u3002\u8a73\u3057\u304f\u898b\u3066\u3044\u304d\u307e\u3057\u3087\u3046\u3002<\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3-1%EF%BC%8E%E5%AE%9F%E7%8F%BE%E6%90%8D%E7%9B%8A%E3%81%AE%E9%81%95%E3%81%84\"><\/span>3-1\uff0e\u5b9f\u73fe\u640d\u76ca\u306e\u9055\u3044<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\u5148\u307b\u3069\u306e\u7dcf\u5408\u640d\u76ca\u306e\u4e2d\u306e\u5b9f\u73fe\u640d\u76ca\u3060\u3051\u3092\u6bd4\u8f03\u3059\u308b\u3068\u4ee5\u4e0b\u306e\u7d50\u679c\u306b\u306a\u308a\u307e\u3057\u305f\u3002\u78ba\u7387\u5206\u5e03\u81ea\u4f53\u306f\u7dcf\u5408\u640d\u76ca\u540c\u69d8\u5927\u304d\u306a\u5dee\u306f\u3042\u308a\u307e\u305b\u3093\u304c\u3001VaR99%\u304c\u5b9f\u73fe\u640d\u76ca\u984d\u306e\u3069\u3053\u306b\u4f4d\u7f6e\u3057\u3066\u3044\u308b\u304b\u3001\u3064\u307e\u308a\u3001\u300c\uff11\uff10\uff10\u5e74\u306b\u4e00\u5ea6\u306e\u5927\u640d\u5931\u304c\u767a\u751f\u3059\u308b\u3088\u3046\u306a\u56f0\u96e3\u306a\u72b6\u6cc1\u4e0b\u3067\u306e\u7a3c\u3050\u529b\u300d\u306b\u9055\u3044\u304c\u3042\u308a\u307e\u3059\u3002\u3053\u306e\u30b0\u30e9\u30d5\u304c\u610f\u5473\u3057\u3066\u3044\u308b\u306e\u306f\u3001\uff11\uff10\uff10\u5e74\u306b\u4e00\u5ea6\u306e\u5927\u640d\u5931\u304c\u767a\u751f\u3059\u308b\u30b7\u30ca\u30ea\u30aa\u4e0b\u306b\u304a\u3044\u3066\u3001\u30e9\u30a4\u30b8\u30f3\u30b0\u306f\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u3088\u308a\u3082\uff13\u500d\u306e\u5b9f\u73fe\u5229\u76ca\u304c\u3042\u308b\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.invast.jp\/blogs\/wp-content\/uploads\/2018\/07\/072097891c077503d7b8d2791a2f2719-1.jpg\" alt=\"\" width=\"704\" height=\"561\" class=\"alignnone size-full wp-image-39454\" srcset=\"https:\/\/www.invast.jp\/blogs\/wp-content\/uploads\/2018\/07\/072097891c077503d7b8d2791a2f2719-1.jpg 704w, https:\/\/www.invast.jp\/blogs\/wp-content\/uploads\/2018\/07\/072097891c077503d7b8d2791a2f2719-1-269x214.jpg 269w, https:\/\/www.invast.jp\/blogs\/wp-content\/uploads\/2018\/07\/072097891c077503d7b8d2791a2f2719-1-282x225.jpg 282w\" sizes=\"auto, (max-width: 704px) 100vw, 704px\" \/><\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"104\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"217\">\n<p>\u7d50\u679c<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"104\">\n<p>\u78ba\u7387\u5206\u5e03\u6bd4\u8f03<\/p>\n<\/td>\n<td width=\"217\">\n<p>\u30e9\u30a4\u30b8\u30f3\u30b0\u3068\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u306b\u306f\u3001\u898b\u305f\u76ee\u3067\u308f\u304b\u308b\u307b\u3069\u306e\u5dee\u306f\u898b\u3089\u308c\u307e\u305b\u3093\u3002<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"104\">\n<p>VaR99\uff05\u6bd4\u8f03<\/p>\n<\/td>\n<td width=\"217\">\n<p>100\u5e74\u306b<span>1<\/span>\u56de\u7a0b\u5ea6\u306e\u5927\u640d\u5931\u3067\u3042\u308a\u5b9f\u73fe\u640d\u76ca\u984d\u306f\u5c0f\u3055\u3044\u984d\u3068\u306a\u3063\u3066\u304a\u308a\u307e\u3059\u304c\u3001\u30e9\u30a4\u30b8\u30f3\u30b0\u306e\u65b9\u304c<span>3<\/span>\u500d\u7a0b\u5ea6\u7a3c\u3044\u3067\u3044\u308b\u3053\u3068\u304c\u308f\u304b\u308a\u307e\u3059\u3002<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3-2%EF%BC%8E%E8%A9%95%E4%BE%A1%E6%90%8D%E7%9B%8A%E3%81%AE%E9%81%95%E3%81%84\"><\/span>3-2\uff0e\u8a55\u4fa1\u640d\u76ca\u306e\u9055\u3044<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>\u4eca\u5ea6\u306f\u8a55\u4fa1\u640d\u76ca\u3067\u6bd4\u8f03\u3057\u3066\u307f\u307e\u3057\u3087\u3046\u3002\u3053\u3061\u3089\u3082\u540c\u3058\u304f\u3001\u78ba\u7387\u306e\u5206\u5e03\u81ea\u4f53\u306b\u306f\u305d\u3053\u307e\u3067\u5927\u304d\u306a\u5dee\u306f\u3042\u308a\u307e\u305b\u3093\u304c\u3001<span>VaR99%<\/span>\u3067\u898b\u308b\u3068\u9055\u3044\u304c\u3042\u308a\u307e\u3059\u3002\u5b9f\u73fe\u5229\u76ca\u306f\uff11\uff10\uff10\u5e74\u306b\uff11\u5ea6\u306e\u5927\u640d\u5931\u304c\u8d77\u304d\u308b\u76f8\u5834\u74b0\u5883\u4e0b\u306b\u304a\u3044\u3066\u30e9\u30a4\u30b8\u30f3\u30b0\u306f\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u306e\uff13\u500d\u3042\u308a\u307e\u3057\u305f\u304c\u3001\u4ee5\u4e0b\u306e\u56f3\u304c\u793a\u3059\u3088\u3046\u306b\u3001\u8a55\u4fa1\u640d\u76ca\u3082\uff13\u500d\u640d\u5931\u304c\u81a8\u3089\u3080\u3068\u3044\u3046\u7d50\u679c\u306b\u306f\u306a\u308a\u307e\u305b\u3093\u3067\u3057\u305f\u3002\u78ba\u304b\u306b\u30e9\u30a4\u30b8\u30f3\u30b0\u306e\u65b9\u304c\u30de\u30a4\u30ca\u30b9\u306b\u504f\u3063\u3066\u3044\u307e\u3059\u304c\u3001\uff11\uff0e\uff14\u500d\u7a0b\u5ea6\u3068\u3044\u3046\u7d50\u679c\u306b\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.invast.jp\/blogs\/wp-content\/uploads\/2018\/07\/055f842401b3b30483dbd37638bef00c.jpg\" alt=\"\" width=\"686\" height=\"546\" class=\"alignnone size-full wp-image-39445\" srcset=\"https:\/\/www.invast.jp\/blogs\/wp-content\/uploads\/2018\/07\/055f842401b3b30483dbd37638bef00c.jpg 686w, https:\/\/www.invast.jp\/blogs\/wp-content\/uploads\/2018\/07\/055f842401b3b30483dbd37638bef00c-269x214.jpg 269w, https:\/\/www.invast.jp\/blogs\/wp-content\/uploads\/2018\/07\/055f842401b3b30483dbd37638bef00c-282x224.jpg 282w\" sizes=\"auto, (max-width: 686px) 100vw, 686px\" \/><\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"104\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"217\">\n<p>\u7d50\u679c<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"104\">\n<p>\u78ba\u7387\u5206\u5e03\u6bd4\u8f03<\/p>\n<\/td>\n<td width=\"217\">\n<p>\u30e9\u30a4\u30b8\u30f3\u30b0\u3068\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u306b\u306f\u3001\u898b\u305f\u76ee\u3067\u308f\u304b\u308b\u307b\u3069\u306e\u5dee\u306f\u898b\u3089\u308c\u307e\u305b\u3093\u3002<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"104\">\n<p>VaR99\uff05\u6bd4\u8f03<\/p>\n<\/td>\n<td width=\"217\">\n<p>100\u5e74\u306b<span>1<\/span>\u56de\u7a0b\u5ea6\u306e\u5927\u640d\u5931\u3067\u3042\u308a\u8a55\u4fa1\u640d\u76ca\u984d\u306f\u5b9f\u73fe\u640d\u76ca\u3068\u6bd4\u3079\u3066\u5927\u304d\u304f\u30de\u30a4\u30ca\u30b9\u306b\u504f\u3063\u3066\u3044\u307e\u3059\u3002\u30e9\u30a4\u30b8\u30f3\u30b0\u306e\u65b9\u304c<span>1.4<\/span>\u500d\u307b\u3069\u8a55\u4fa1\u640d\u304c\u81a8\u3089\u3093\u3067\u3044\u308b\u7d50\u679c\u3068\u306a\u308a\u307e\u3057\u305f\u3002<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u4eca\u56de\u306e\u8abf\u67fb\u306e\u7d50\u679c\u3001\u30e9\u30a4\u30b8\u30f3\u30b0\u3068\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u3092\u7a3c\u52d5\u3057\u7d9a\u3051\u305f\u5834\u5408\u306e\u7dcf\u5408\u640d\u76ca\u306b\u306f\u307b\u3068\u3093\u3069\u5dee\u306f\u7121\u304f\u3001\u30e9\u30a4\u30b8\u30f3\u30b0\u306f\u3088\u308a\u7a4d\u6975\u7684\u306b\u5b9f\u73fe\u5229\u76ca\u3092\u78ba\u5b9a\u3059\u308b\u3053\u3068\u3001\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u306f\u8a55\u4fa1\u640d\u3068\u5b9f\u73fe\u5229\u76ca\u306e\u30d0\u30e9\u30f3\u30b9\u304c\u53d6\u308c\u3066\u3044\u308b\u3053\u3068\u304c\u5206\u304b\u308a\u307e\u3057\u305f\u3002<\/p>\n<h2><span class=\"ez-toc-section\" id=\"%EF%BC%94%EF%BC%8E%E3%83%A9%E3%82%A4%E3%82%B8%E3%83%B3%E3%82%B0%E3%81%A8%E3%82%B9%E3%83%AA%E3%83%BC%E3%82%AB%E3%83%BC%E3%83%89%E3%81%AE%E9%81%95%E3%81%84%E3%81%BE%E3%81%A8%E3%82%81\"><\/span><strong>\uff14\uff0e\u30e9\u30a4\u30b8\u30f3\u30b0\u3068\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u306e\u9055\u3044\u307e\u3068\u3081<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>\u3068\u3044\u3046\u3053\u3068\u3067\u3001\u4eca\u56de\u306e\u8abf\u67fb\u3092\u3075\u307e\u3048\u305f\u4e0a\u3067\u306e\u30e9\u30a4\u30b8\u30f3\u30b0\u3068\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u3092\u6bd4\u3079\u305f\u7279\u5fb4\u3092\u307e\u3068\u3081\u3066\u307f\u307e\u3057\u305f\u3002\u7686\u69d8\u304c\u30bb\u30ec\u30af\u30c8\u3092\u5229\u7528\u3055\u308c\u308b\u6642\u306e\u53c2\u8003\u306b\u3057\u3066\u3044\u305f\u3060\u3051\u308c\u3070\u5e78\u3044\u3067\u3059\u3002<\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"123\">\n<p>&nbsp;<\/p>\n<\/td>\n<td width=\"575\">\n<p>\u3069\u3093\u306a\u6295\u8cc7\u30b9\u30bf\u30a4\u30eb\u306b\u5411\u3044\u3066\u3044\u308b\uff1f<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"123\">\n<p>\u30e9\u30a4\u30b8\u30f3\u30b0<\/p>\n<\/td>\n<td width=\"575\">\n<p>\u3088\u308a\u7a4d\u6975\u7684\u306b\u5229\u76ca\u78ba\u5b9a\u3092\u3057\u3066\u3044\u304d\u305f\u3044\u65b9\u306b\u304a\u3059\u3059\u3081\u3067\u3059\u3002\u78ba\u5b9a\u5229\u76ca\u306f\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u3088\u308a\u3082\u591a\u3044\u305f\u3081\u3001\u3046\u307e\u304f\u4e0b\u843d\u5c40\u9762\u3092\u56de\u907f\u3067\u304d\u308c\u3070\u3001\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u3088\u308a\u3082\u5229\u76ca\u3092\u591a\u304f\u5f97\u3089\u308c\u308b\u53ef\u80fd\u6027\u304c\u9ad8\u3044\u3068\u8003\u3048\u3089\u308c\u307e\u3059\u3002\u78ba\u5b9a\u3057\u305f\u5229\u76ca\u306f\u518d\u6295\u8cc7\u306b\u307e\u308f\u3059\u3053\u3068\u3082\u3067\u304d\u308b\u305f\u3081\u3088\u308a\u5927\u304d\u304f\u5229\u76ca\u3092\u4f38\u3070\u305b\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"123\">\n<p>\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9<\/p>\n<\/td>\n<td width=\"575\">\n<p>\u30e9\u30a4\u30b8\u30f3\u30b0\u306b\u6bd4\u3079\u78ba\u5b9a\u5229\u76ca\u3068\u8a55\u4fa1\u640d\u5931\u306e\u30d0\u30e9\u30f3\u30b9\u304c\u53d6\u308c\u3066\u3044\u308b\u306e\u3067\u4e2d\u9577\u671f\u3067\u4fdd\u6709\u3057\u3001\u7f6e\u304d\u3063\u3071\u306a\u3057\u306b\u3059\u308b\u3088\u3046\u306a\u6295\u8cc7\u30b9\u30bf\u30a4\u30eb\u306b\u5411\u3044\u3066\u3044\u308b\u3068\u8003\u3048\u3089\u308c\u307e\u3059\u3002\u7dcf\u5408\u640d\u76ca\u304c\u540c\u3058\u3067\u3042\u3063\u305f\u5834\u5408\u3001\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u306f\u78ba\u5b9a\u5229\u76ca\u304c\u5c11\u306a\u3044\u5206\u304b\u304b\u308b\u7a0e\u91d1\u304c\u5c11\u306a\u304f\u306a\u308a\u3001\u6700\u7d42\u7684\u306a\u5229\u76ca\u304c\u30e9\u30a4\u30b8\u30f3\u30b0\u3088\u308a\u591a\u304f\u306a\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E5%88%86%E6%9E%90%E6%89%8B%E6%B3%95%E3%81%AB%E3%81%A4%E3%81%84%E3%81%A6\"><\/span>\u5206\u6790\u624b\u6cd5\u306b\u3064\u3044\u3066<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>\u3054\u8208\u5473\u304c\u3042\u308b\u65b9\u306b\u3001\u4eca\u56de\u306e\u5206\u6790\u624b\u6cd5\u306b\u3064\u3044\u3066\u7c21\u5358\u306b\u3054\u7d39\u4ecb\u3044\u305f\u3057\u307e\u3059\u3002<\/p>\n<ol>\n<li><span style=\"font-size: 14pt;\"><strong>\u5c06\u6765\u306e\u4fa1\u683c\u30c7\u30fc\u30bf\u30b7\u30ca\u30ea\u30aa\u3092\u305f\u304f\u3055\u3093\u4f5c\u308b\u3002<\/strong><\/span><\/li>\n<\/ol>\n<p>\u7dcf\u5408\u640d\u76ca\u306e\u78ba\u7387\u5206\u5e03\u3092\u6c42\u3081\u308b\u305f\u3081\u306b\u306f\u5c06\u6765\u306e\u4fa1\u683c\u30c7\u30fc\u30bf\u30b7\u30ca\u30ea\u30aa\u3092\u305f\u304f\u3055\u3093\u4f5c\u308b\u5fc5\u8981\u304c\u3042\u308b\u305f\u3081\u3001\u904e\u53bb<span>3<\/span>\u5e74\u9593\u306e\u4fa1\u683c\u5909\u5316\u306b\u57fa\u3065\u304d\u3001<span>1<\/span>\u5e74\u9593\u5206\uff08<span>240<\/span>\u65e5\u5206\uff09\u306e\u65e5\u8db3\u30c7\u30fc\u30bf\u3092<span>1<\/span>\u4e07\u901a\u308a\uff08\uff1d<span>1<\/span>\u4e07\u30b7\u30ca\u30ea\u30aa\uff09\u751f\u6210\u3044\u305f\u3057\u307e\u3057\u305f\u3002\u305d\u306e\u969b\u3001\u524d\u65e5\u306b\u4fa1\u683c\u304c\u4e0a\u6607\u3059\u308b\u3068\u7fcc\u65e5\u306f\u4fa1\u683c\u304c\u4e0b\u843d\u3057\u3084\u3059\u3044\u3001\u53c8\u306f\u524d\u65e5\u306b\u4fa1\u683c\u304c\u4e0b\u843d\u3059\u308b\u3068\u7fcc\u65e5\u306f\u4e0a\u6607\u3057\u3084\u3059\u3044\u3068\u3044\u3046\u76f8\u95a2\u304c\u89b3\u5bdf\u3055\u308c\u305f\u305f\u3081\u3001\u4fa1\u683c\u30c7\u30fc\u30bf\u30b7\u30ca\u30ea\u30aa\u4f5c\u6210\u306b\u304a\u3044\u3066\u8003\u616e\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u5c1a\u3001<span>TQQQ<\/span>\u306f\u904e\u53bb<span>3<\/span>\u5e74\u9593\u306b\u529b\u5f37\u3044\u4fa1\u683c\u4e0a\u6607\u3092\u793a\u3057\u3066\u3044\u305f\u3053\u3068\u304b\u3089\u3001\u305d\u308c\u306b\u57fa\u3065\u3044\u3066\u751f\u6210\u3055\u308c\u305f\u4fa1\u683c\u30c7\u30fc\u30bf\u30b7\u30ca\u30ea\u30aa\u3082\u305d\u308c\u3092\u53cd\u6620\u3057\u3001<span>1<\/span>\u4e07\u306e\u3046\u3061<span>8000<\/span>\u30b7\u30ca\u30ea\u30aa\uff08\uff1d<span>80%<\/span>\u5206\uff09\u306f\u4fa1\u683c\u4e0a\u6607\u3001\u6b8b\u308a\u306e<span>2000<\/span>\u30b7\u30ca\u30ea\u30aa\uff08\uff1d<span>20%<\/span>\u5206\uff09\u306f\u4fa1\u683c\u4e0b\u843d\u3068\u306a\u308a\u307e\u3057\u305f\u3002<\/p>\n<p>&nbsp;<\/p>\n<p>\u5c06\u6765\u306e\u640d\u76ca\u306e\u767a\u751f\u78ba\u7387\u3092\u6b63\u78ba\u306b\u628a\u63e1\u3059\u308b\u305f\u3081\u306b\u306f\u3001\u4f8b\u3048\u3070\u300c\u524d\u65e5\u3088\u308a\u3082\u3082\u3063\u3068\u53e4\u3044\u6642\u70b9\u306e\u4fa1\u683c\u3068\u306e\u76f8\u95a2\u300d\u306e\u53d6\u308a\u8fbc\u307f\u3092\u691c\u8a0e\u3057\u305f\u308a\u3001\u300c\u4fa1\u683c\u5909\u5316\u8981\u56e0\u3092\u3088\u308a\u7d30\u5206\u5316\u3059\u308b\u300d\u306a\u3069\u306e\u5de5\u592b\u3092\u884c\u3046\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u304c\u3001\u300e\u672c\u5206\u6790\u306e\u76ee\u7684\u306f\u3042\u304f\u307e\u3067\u30e9\u30a4\u30b8\u30f3\u30b0\u3068\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u306e\u6bd4\u8f03\u300f\u3067\u3042\u308b\u305f\u3081\u3001\u4fa1\u683c\u30c7\u30fc\u30bf\u30b7\u30ca\u30ea\u30aa\u306f\u30b7\u30f3\u30d7\u30eb\u306b\u751f\u6210\u3057\u3066\u3044\u307e\u3059\u3002\u305d\u306e\u70b9\u306f\u3054\u5bb9\u8d66\u4e0b\u3055\u3044\u3002<\/p>\n<p>\u4ee5\u4e0b\u3067\u306f\u3001\u751f\u6210\u3055\u308c\u305f\u4fa1\u683c\u30c7\u30fc\u30bf\u30b7\u30ca\u30ea\u30aa\u306e\u4e00\u90e8\u3092\u30b0\u30e9\u30d5\u5316\u3057\u3066\u3044\u307e\u3059\u3002\u4e0b\u304c\u3063\u305f\u308a\u4e0a\u304c\u3063\u305f\u308a<span>&#8230;<\/span>\u975e\u5e38\u306b\u69d8\u3005\u306a\u30d1\u30bf\u30fc\u30f3\u306e\u4fa1\u683c\u30c7\u30fc\u30bf\u30b7\u30ca\u30ea\u30aa\u304c\u751f\u6210\u3055\u308c\u3066\u3044\u308b\u3053\u3068\u304c\u3054\u78ba\u8a8d\u9802\u3051\u308b\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.invast.jp\/blogs\/wp-content\/uploads\/2018\/07\/4.jpg\" alt=\"\" width=\"968\" height=\"706\" class=\"alignnone size-full wp-image-39456\" srcset=\"https:\/\/www.invast.jp\/blogs\/wp-content\/uploads\/2018\/07\/4.jpg 968w, https:\/\/www.invast.jp\/blogs\/wp-content\/uploads\/2018\/07\/4-768x560.jpg 768w, https:\/\/www.invast.jp\/blogs\/wp-content\/uploads\/2018\/07\/4-293x214.jpg 293w, https:\/\/www.invast.jp\/blogs\/wp-content\/uploads\/2018\/07\/4-282x206.jpg 282w\" sizes=\"auto, (max-width: 968px) 100vw, 968px\" \/><\/p>\n<p>&nbsp;<\/p>\n<ol start=\"2\">\n<li><strong><span style=\"font-size: 14pt;\">\u7dcf\u5408\u640d\u76ca\u306e\u78ba\u7387\u5206\u5e03\u3092\u6c42\u3081\u308b\u3002<\/span><\/strong><\/li>\n<\/ol>\n<p>\u7d9a\u3044\u3066\u3001\u751f\u6210\u3055\u308c\u305f\u4fa1\u683c\u30c7\u30fc\u30bf\u30b7\u30ca\u30ea\u30aa\u3054\u3068\u306b\u3001\u30e9\u30a4\u30b8\u30f3\u30b0\u3068\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u306e\u30c6\u30b9\u30c8\u30b7\u30df\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u3092\u884c\u3044\u307e\u3059\u3002\u4fa1\u683c\u30c7\u30fc\u30bf\u306f<span>1<\/span>\u4e07\u30b7\u30ca\u30ea\u30aa\u5206\u3042\u308a\u307e\u3059\u306e\u3067\u3001\u5168\u90e8\u3067<span>1<\/span>\u4e07\u901a\u308a\u306e\u7dcf\u5408\u640d\u76ca\u304c\u5f97\u3089\u308c\u307e\u3059\u3002\u305d\u308c\u3092\u5358\u7d14\u306b\u8868\u5f62\u5f0f\u3067\u96c6\u8a08\u3059\u308c\u3070\u3001\u305d\u308c\u304c\u7dcf\u5408\u640d\u76ca\u306e\u78ba\u7387\u5206\u5e03\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>&nbsp;<\/p>\n<p>\uff08\u4f8b\uff09\u7dcf\u5408\u640d\u76ca\u306e\u78ba\u7387\u5206\u5e03<\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"137\">\n<p>\u7dcf\u5408\u640d\u76ca\uff08<span>USD<\/span>\uff09<\/p>\n<\/td>\n<td width=\"132\">\n<p>\u8a72\u5f53\u30b7\u30ca\u30ea\u30aa\u6570<\/p>\n<\/td>\n<td width=\"180\">\n<p>\u767a\u751f\u78ba\u7387<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"137\">\n<p>$\u25cb\u25cb\uff5e<span>$<\/span>\u25b3\u25b3<\/p>\n<\/td>\n<td width=\"132\">\n<p>10<\/p>\n<\/td>\n<td width=\"180\">\n<p>0.1% \uff08\uff1d<span>10<\/span>\u00f7<span>10,000<\/span>\uff09<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"137\">\n<p>$\u25b3\u25b3\uff5e<span>$<\/span>\u25a1\u25a1<\/p>\n<\/td>\n<td width=\"132\">\n<p>150<\/p>\n<\/td>\n<td width=\"180\">\n<p>1.5% \uff08\uff1d<span>150<\/span>\u00f7<span>10,000<\/span>\uff09<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"137\">\n<p>\u30fb\u30fb\u30fb<\/p>\n<\/td>\n<td width=\"132\">\n<p>\u30fb\u30fb\u30fb<\/p>\n<\/td>\n<td width=\"180\">\n<p>\u30fb\u30fb\u30fb<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"137\">\n<p>\u5408\u8a08<\/p>\n<\/td>\n<td width=\"132\">\n<p>10,000<\/p>\n<\/td>\n<td width=\"180\">\n<p>100.0%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p>\u3053\u308c\u3092\u6298\u308c\u7dda\u30b0\u30e9\u30d5\u306b\u3057\u305f\u3082\u306e\u304c\u3001\u524d\u8ff0\u306e\u78ba\u7387\u5206\u5e03\u3067\u3059\u3002<\/p>\n<p>&nbsp;<\/p>\n<p>\u672c\u30c6\u30b9\u30c8\u30b7\u30df\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u306f\u65e5\u8db3\u306b\u57fa\u3065\u3044\u3066\u5b9f\u65bd\u3057\u3066\u3044\u308b\u305f\u3081\u3001\uff11\u65e5\u306b\u53d6\u5f15\u3067\u304d\u308b\u56de\u6570\u306f\u6700\u5927\uff11\u56de\u306e\u307f\u3001\u3068\u306a\u308a\u307e\u3059\u3002\u3088\u3063\u3066\u5f97\u3089\u308c\u305f\u7d50\u679c\u306f\u672c\u6765\u306e\u30c8\u30ec\u30fc\u30c7\u30a3\u30f3\u30b0\u7d50\u679c\u3068\u306f\u5927\u304d\u304f\u7570\u306a\u308b\u305f\u3081\u3001\u8aa4\u89e3\u3092\u907f\u3051\u308b\u305f\u3081\u306b\u30b7\u30df\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u7d50\u679c\u306e\u5b9f\u984d\u306f\u8868\u793a\u3057\u3066\u3044\u307e\u305b\u3093\u3002\u3067\u3059\u304c\u3001\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u3068\u30e9\u30a4\u30b8\u30f3\u30b0\u306e\u7279\u5fb4\u306e\u6bd4\u8f03\u3068\u3044\u3046\u76ee\u7684\u306f\u3001\u65e5\u8db3\u306b\u57fa\u3065\u304f\u30b7\u30df\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u3067\u3082\u5145\u5206\u306b\u9054\u6210\u3067\u304d\u308b\u3068\u8003\u3048\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>&nbsp;<\/p>\n<ol start=\"3\">\n<li><strong><span style=\"font-size: 14pt;\">VaR99\uff05\u3092\u6c42\u3081\u308b<\/span><\/strong><\/li>\n<\/ol>\n<p>\u6700\u5f8c\u306b\u3001<span>VaR99<\/span>\uff05\u3092\u6c42\u3081\u307e\u3059\u3002<span>VaR99<\/span>\uff05\u306f\u300c\u7dcf\u5408\u640d\u76ca\u3092\u5c0f\u3055\u3044\u9806\u306b\u4e26\u3079\u3001\u305d\u306e\u7d2f\u7a4d\u767a\u751f\u78ba\u7387\u304c<span>1.0%<\/span>\u3068\u306a\u3063\u305f\u969b\u306e\u7dcf\u5408\u640d\u76ca\u300d\u304c\u8a72\u5f53\u3057\u307e\u3059\u3002<\/p>\n<p>\u524d\u8ff0\u3068\u540c\u3058\u78ba\u7387\u5206\u5e03\u8868\u3092\u7528\u3044\u308c\u3070\u3001\u4ee5\u4e0b\u306e\u3088\u3046\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>&nbsp;<\/p>\n<p>\uff08\u4f8b\uff09\u7dcf\u5408\u640d\u76ca\u984d\u306e\u767a\u751f\u78ba\u7387\u3068<span>VaR99%<\/span>\uff08\u524d\u8ff0\u3068\u540c\u3058\u8868\u3092\u5229\u7528\uff09<\/p>\n<table>\n<tbody>\n<tr>\n<td width=\"137\">\n<p>\u7dcf\u5408\u640d\u76ca\uff08<span>USD<\/span>\uff09<\/p>\n<\/td>\n<td width=\"132\">\n<p>\u8a72\u5f53\u30b7\u30ca\u30ea\u30aa\u6570<\/p>\n<\/td>\n<td width=\"180\">\n<p>\u767a\u751f\u78ba\u7387<\/p>\n<\/td>\n<td width=\"180\">\n<p>\u7d2f\u7a4d\u767a\u751f\u78ba\u7387<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"137\">\n<p>$\u25cb\u25cb\uff5e<span>$<\/span>\u25b3\u25b3<\/p>\n<\/td>\n<td width=\"132\">\n<p>10<\/p>\n<\/td>\n<td width=\"180\">\n<p>0.1% \uff08\uff1d<span>10<\/span>\u00f7<span>10,000<\/span>\uff09<\/p>\n<\/td>\n<td width=\"180\">\n<p>0.1%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"137\">\n<p>$\u25b3\u25b3\uff5e<span>$<\/span>\u25a1\u25a1<\/p>\n<\/td>\n<td width=\"132\">\n<p>150<\/p>\n<\/td>\n<td width=\"180\">\n<p>1.5% \uff08\uff1d<span>150<\/span>\u00f7<span>10,000<\/span>\uff09<\/p>\n<\/td>\n<td width=\"180\">\n<p>1.6%<\/p>\n<p>\u7d2f\u7a4d\u767a\u751f\u78ba\u7387\u304c<span>1.0%<\/span>\u3092\u8d85\u3048\u3066\u3044\u308b\u305f\u3081\u3001<span>VaR99<\/span>\uff05\u306f<span><br \/>$<\/span>\u25b3\u25b3\uff5e<span>$<\/span>\u25a1\u25a1\u306e\u4e2d\u306b\u3042\u308b\u3053\u3068\u304c\u308f\u304b\u308b\u3002<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"137\">\n<p>\u30fb\u30fb\u30fb<\/p>\n<\/td>\n<td width=\"132\">\n<p>\u30fb\u30fb\u30fb<\/p>\n<\/td>\n<td width=\"180\">\n<p>\u30fb\u30fb\u30fb<\/p>\n<\/td>\n<td width=\"180\">\n<p>\u30fb\u30fb\u30fb<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td width=\"137\">\n<p>\u5408\u8a08<\/p>\n<\/td>\n<td width=\"132\">\n<p>10,000<\/p>\n<\/td>\n<td width=\"180\">\n<p>100.0%<\/p>\n<\/td>\n<td width=\"180\">\n<p>100.0%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p>\u8868\u5185\u306e\u30b3\u30e1\u30f3\u30c8\u3067\u8aac\u660e\u3057\u3066\u3044\u307e\u3059\u3088\u3046\u306b\u3001<span>VaR99<\/span>\uff05\u306f<span>$<\/span>\u25b3\u25b3\uff5e<span>$<\/span>\u25a1\u25a1\u306e\u4e2d\u306b\u3042\u308b\u3053\u3068\u304c\u308f\u304b\u308a\u307e\u3059\u3002\u3053\u306e\u4f8b\u3067\u306f\u3001\u3053\u306e\u7bc4\u56f2\u306b\u8a72\u5f53\u3057\u305f<span>150<\/span>\u30b7\u30ca\u30ea\u30aa\u306e\u4e2d\u306e\u3069\u308c\u304b\u304c\u7d2f\u7a4d\u767a\u751f\u78ba\u7387<span>1.0%<\/span>\u30d4\u30c3\u30bf\u30ea\u306b\u8a72\u5f53\u3057\u3001\u305d\u306e\u8a72\u5f53\u30b7\u30ca\u30ea\u30aa\u306e\u7dcf\u5408\u640d\u76ca\u984d\u304c<span>VaR99<\/span>\uff05\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u3088\u308a\u8a73\u3057\u304f\u3054\u5b58\u77e5\u306e\u65b9\u306e\u305f\u3081\u306b\u88dc\u8db3\u3057\u307e\u3059\u3068\u3001<span>VaR99<\/span>\uff05\u304c<span>1<\/span>\u4e07\u30b7\u30ca\u30ea\u30aa\u306e\u30b7\u30df\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u3067\u5145\u5206\u306b\u53ce\u675f\u3067\u304d\u3066\u3044\u308b\u3053\u3068\u306f\u78ba\u8a8d\u3057\u3066\u304a\u308a\u307e\u3059\u3002<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u3053\u3093\u306b\u3061\u306f\u3001\u30c8\u30e9\u30a4\u30aa\u30fc\u30c8ETF\u958b\u767a\u30c1\u30fc\u30e0\u3067\u3059\uff01 \u5148\u6708\u30ea\u30ea\u30fc\u30b9\u3055\u308c\u305f\u65b0\u30ed\u30b8\u30c3\u30af\u30fb\u30e9\u30a4\u30b8\u30f3\u30b0\u3067\u3059\u304c\u3001\u65e9\u901f\u591a\u304f\u306e\u53cd\u97ff\u3092\u3044\u305f\u3060\u304d\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u305d\u306e\u4e2d\u3067\u3001\u30ea\u30ea\u30fc\u30b9\u6642\u306b\u30e9\u30a4\u30b8\u30f3\u30b0\u3068\u30b9\u30ea\u30fc\u30ab\u30fc\u30c9\u3092\u6bd4\u8f03\u3057\u305f\u5834\u5408\u3001\u4e0a\u6607\u5c40\u9762\u306b\u304a\u3044\u3066 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":39449,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33],"tags":[],"class_list":["post-39438","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-taetf"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.invast.jp\/blogs\/wp-json\/wp\/v2\/posts\/39438","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.invast.jp\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.invast.jp\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.invast.jp\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.invast.jp\/blogs\/wp-json\/wp\/v2\/comments?post=39438"}],"version-history":[{"count":0,"href":"https:\/\/www.invast.jp\/blogs\/wp-json\/wp\/v2\/posts\/39438\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.invast.jp\/blogs\/wp-json\/wp\/v2\/media\/39449"}],"wp:attachment":[{"href":"https:\/\/www.invast.jp\/blogs\/wp-json\/wp\/v2\/media?parent=39438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.invast.jp\/blogs\/wp-json\/wp\/v2\/categories?post=39438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.invast.jp\/blogs\/wp-json\/wp\/v2\/tags?post=39438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}