Apple, Alphabet or Microsoft: Which Is the Most Efficient Share?

Paulo Ferreira

Econometric Research in Finance, 2016, vol. 1, issue 2, 67-79

Abstract: The study of efficiency of financial assets remains important because the non-observation of this feature could mean that investors could have some capacity of predict the behavior of that asset. In this paper we use detrended fluctuation analysis to analyse the efficiency of the three most valuable American companies, curiously all from the same economic sector: Apple, Alphabet and Microsoft. Results point to efficiency of Apple’s shares and similar results for Alphabet. Just Microsoft has shares which show evidence of deviations from the efficiency. Our results also suggest that moments of crisis could have impact on changes in the efficiency patter of shares.

Keywords: detrended fluctuation analysis; return rates; efficiency; Apple; Alphabet; Microsoft (search for similar items in EconPapers)
JEL-codes: F36 G2 G21 G34 L1 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:sgh:erfinj:v:1:y:2016:i:2:p:67-79

DOI: 10.33119/ERFIN.2016.1.2.1

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