random walk theory

Japanese translation: ランダム・ウォーク理論

For term searches and specialty glossaries, please try the new GBK glossaries
00:55 Oct 19, 2020
English to Japanese translations [PRO]
Bus/Financial - Economics
Additional field(s): Business/Commerce (general), Economics, Finance (general), Investment / Securities, Mathematics & Statistics
English term or phrase: random walk theory
Definition from The Economist:
Also random walk hypothesis. Impossible to predict the next step. efficient market theory says that the prices of many financial assets, such as shares, follow a random walk. In other words, there is no way of knowing whether the next change in the price will be up or down, or by how much it will rise or fall. The reason is that in an efficient market, all the information that would allow an investor to predict the next price move is already reflected in the current price. This belief has led some economists to argue that investors cannot consistently outperform the market. But some economists argue that asset prices are predictable (they follow a non-random walk) and that markets are not efficient.

Example sentence(s):
  • The most well-known practical example of random walk theory occurred in 1988 when the Wall Street Journal sought to test Malkiel's theory by creating the annual Wall Street Journal Dartboard Contest, pitting professional investors against darts for stock-picking supremacy. Investopedia
  • The random walk hypothesis has merit in dissuading investors from trying to make guesses about short-term stock movements. However, many long-term investors still manage to invest well by putting time on their side. The Motley Fool
  • Malkiel and the random walk theory provide considerable support to the intimidated individual investor, but Malkiel in particular encourages investors to understand the theories and investment methods that the random walk theory challenges. Investing Answers
Glossary-building KudoZ




Question posted on behalf of translation team:
GBK economics and finances specialistsGBK economics and finances specialists


This question is closed

Japanese translation:ランダム・ウォーク理論
Definition:
金融商品の値動きには規則性が無く、過去の変動とは一切関係ないとする仮説。
Selected response from:

Haruto Takashima
Japan
Grading comment
4 KudoZ points were awarded for this answer



Summary of translations provided
5 +2ランダム・ウォーク理論
Haruto Takashima


  

Translations offered


3 days 11 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +2
ランダム・ウォーク理論


Definition from 野村證券 証券用語解説集:
金融商品の値動きには規則性が無く、過去の変動とは一切関係ないとする仮説。

Example sentence(s):
  • 数学的に厳密なランダム・ウォークであれば長期的にも上昇と下降の可能性は同じになり、株式投資は値上がり益が期待できないことになるが、株価における<b>ランダム・ウォーク理論</b>は、(著名なランダム・ウォーク論者である:バートン・マルキール(英語版)の論を含めて)長期的には株価は上昇する可能性の方が高いことを前提としており、インデックスファンド投資への理論武装として語られるのが一般的である。 - Wikipedia  

Explanation:
中黒なしの「ランダムウォーク」とする場合もあるが、日系大手証券会社である野村證券および大和証券が提供するオンライン用語集では、両社とも「ランダム・ウォーク」としている。また、金融業界で認知度が高い書籍タイトル『ウォール街のランダム・ウォーカー』(バートン・マルキール著)でも中黒が使用されている。以上の理由から、中黒ありが一般的であろうと判断し、「ランダム・ウォーク理論」とした。
Haruto Takashima
Japan
Local time: 09:07
Native speaker of: Native in JapaneseJapanese
PRO pts in category: 4

Votes in favor of/against selecting this as the best translation of the term asked
Yes  Minoru Kuwahara
5 hrs

Yes  Yasutomo Kanazawa
17 hrs
Login to enter a peer comment (or grade)



Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.

KudoZ™ translation help

The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.


See also:

Your current localization setting

English

Select a language

Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search