Further Applications of Stochastic Dominance to Mutual Fund Performance

Jack Meyer ()

Journal of Financial and Quantitative Analysis, 1977, vol. 12, issue 2, 235-242

Abstract: In a recent paper Joy and Porter [4] used the concept of stochastic dominance to address the question of whether or not mutual funds outperform the Dow Jones Industrial Average (DJIA). Since that time Meyer [5] has proven a theorem in the area of stochastic dominance which allows one to make further application of stochastic dominance to this question. The major purpose of this paper is to demonstrate the power and relevance of the recently developed stochastic dominance theorem in ordering investments for groups of investors. In doing so, some evidence is presented concerning mutual funds and the DJIA.

Date: 1977
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