:

.1

.2

.3

Indexes

.
.
.
.1

.

] ) :[(1999
.1
.2

] [.

.Bull Market

.Bear Market

.

] ).[(2006
.2

] )(2006
):[Leung (2000
.1

.2

Risky Assts

.
.3

.4

.
.3

. :
.1

) (

.2

500

DJIA

) ( ).(S&P 5000

) ( ) ( .

.
. ]):[Fabozzi and Peterson (2003
.1

.2

.3

:

] ):[(2006

:Size
.
:Breadth .
:Source
.

:
.1

:Price Weighting


.

.2

:Equal Weighting

.

.3

:Value Weighting
.

.
.
) ) (2 (.
) ) (3 (.

NYSE

S&P500