{"id":23703,"date":"2023-12-06T08:49:24","date_gmt":"2023-12-06T08:49:24","guid":{"rendered":"https:\/\/masterskills.org\/blog\/phan-tich-linh-vuc-sector-analysis-la-gi-dac-diem-va-cach-tiep-can.html"},"modified":"2023-12-22T09:03:02","modified_gmt":"2023-12-22T02:03:02","slug":"phan-tich-linh-vuc-sector-analysis-la-gi-dac-diem-va-cach-tiep-can","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/phan-tich-linh-vuc-sector-analysis-la-gi-dac-diem-va-cach-tiep-can.html","title":{"rendered":"Ph\u00e2n t\u00edch l\u0129nh v\u1ef1c (Sector Analysis) l\u00e0 g\u00ec? \u0110\u1eb7c \u0111i\u1ec3m v\u00e0 c\u00e1ch ti\u1ebfp c\u1eadn"},"content":{"rendered":"
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(\u1ea2nh minh h\u1ecda: Sector analysis)<\/p>\n<\/figcaption><\/figure>\n

Ph\u00e2n t\u00edch l\u0129nh v\u1ef1c<\/font><\/h2>\n

Kh\u00e1i ni\u1ec7m<\/b><\/p>\n

Ph\u00e2n t\u00edch l\u0129nh v\u1ef1c <\/b>trong ti\u1ebfng Anh l\u00e0 Sector Analysis.<\/b><\/p>\n

Ph\u00e2n t\u00edch l\u0129nh v\u1ef1c<\/b> l\u00e0 vi\u1ec7c \u0111\u00e1nh gi\u00e1 t\u00ecnh h\u00ecnh v\u00e0 tri\u1ec3n v\u1ecdng kinh t\u1ebf v\u00e0 t\u00e0i ch\u00ednh trong m\u1ed9t l\u0129nh v\u1ef1c nh\u1ea5t \u0111\u1ecbnh c\u1ee7a n\u1ec1n kinh t\u1ebf.<\/p>\n

Ph\u00e2n t\u00edch l\u0129nh v\u1ef1c \u0111\u1ec3 cung c\u1ea5p cho nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1ed9t ph\u00e1n \u0111o\u00e1n v\u1ec1 vi\u1ec7c c\u00e1c c\u00f4ng ty trong l\u0129nh v\u1ef1c n\u00e0y d\u1ef1 ki\u1ebfn s\u1ebd ho\u1ea1t \u0111\u1ed9ng t\u1ed1t nh\u01b0 th\u1ebf n\u00e0o.<\/p>\n

Ph\u00e2n t\u00edch l\u0129nh v\u1ef1c th\u01b0\u1eddng \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng b\u1edfi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 chuy\u00ean v\u1ec1 m\u1ed9t l\u0129nh v\u1ef1c c\u1ee5 th\u1ec3 ho\u1eb7c b\u1edfi nh\u1eefng ng\u01b0\u1eddi s\u1eed d\u1ee5ng ph\u01b0\u01a1ng ph\u00e1p\u00a0ph\u00e2n t\u00edch t\u1eeb tr\u00ean xu\u1ed1ng\u00a0(Top-down investing).<\/p>\n

Theo ph\u00e2n t\u00edch t\u1eeb tr\u00ean xu\u1ed1ng, c\u00e1c l\u0129nh v\u1ef1c h\u1ee9a h\u1eb9n nh\u1ea5t \u0111\u01b0\u1ee3c x\u00e1c \u0111\u1ecbnh tr\u01b0\u1edbc, v\u00e0 sau \u0111\u00f3 nh\u00e0 \u0111\u1ea7u t\u01b0 xem x\u00e9t c\u00e1c c\u1ed5 phi\u1ebfu trong l\u0129nh v\u1ef1c \u0111\u00f3 \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh nh\u1eefng ng\u00e0nh n\u00e0o cu\u1ed1i c\u00f9ng s\u1ebd \u0111\u01b0\u1ee3c ch\u1ecdn mua.<\/p>\n

Chi\u1ebfn l\u01b0\u1ee3c\u00a0lu\u00e2n chuy\u1ec3n ng\u00e0nh\u00a0(Sector roatation strategy) c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng b\u1eb1ng c\u00e1ch \u0111\u1ea7u t\u01b0 v\u00e0o c\u00e1c c\u1ed5 phi\u1ebfu c\u1ee5 th\u1ec3 ho\u1eb7c b\u1eb1ng c\u00e1ch s\u1eed d\u1ee5ng c\u00e1c qu\u0129 ETF theo t\u1eebng l\u0129nh v\u1ef1c.<\/p>\n

\u0110\u1eb7c \u0111i\u1ec3m c\u1ee7a Ph\u00e2n t\u00edch l\u0129nh v\u1ef1c<\/font><\/h3>\n

Ph\u00e2n t\u00edch l\u0129nh v\u1ef1c<\/b> cho r\u1eb1ng m\u1ed9t s\u1ed1 l\u0129nh v\u1ef1c nh\u1ea5t \u0111\u1ecbnh ho\u1ea1t \u0111\u1ed9ng t\u1ed1t h\u01a1n \u1edf c\u00e1c giai \u0111o\u1ea1n kh\u00e1c nhau trong\u00a0chu k\u00ec kinh doanh.<\/p>\n

\u0110\u1ea7u chu k\u00ec kinh doanh l\u00e0\u00a0giai \u0111o\u1ea1n h\u01b0ng th\u1ecbnh\u00a0(Expansion), v\u00ed d\u1ee5, l\u00e3i su\u1ea5t th\u1ea5p v\u00e0 t\u0103ng tr\u01b0\u1edfng b\u1eaft \u0111\u1ea7u t\u0103ng. Trong giai \u0111o\u1ea1n n\u00e0y, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 ho\u1eb7c nh\u00e0 ph\u00e2n t\u00edch th\u1ef1c hi\u1ec7n ph\u00e2n t\u00edch l\u0129nh v\u1ef1c s\u1ebd t\u1eadp trung nghi\u00ean c\u1ee9u v\u1ec1 c\u00e1c c\u00f4ng ty \u0111\u01b0\u1ee3c h\u01b0\u1edfng l\u1ee3i t\u1eeb l\u00e3i su\u1ea5t th\u1ea5p v\u00e0 t\u0103ng c\u01b0\u1eddng \u0111i vay. C\u00e1c c\u00f4ng ty n\u00e0y th\u01b0\u1eddng ho\u1ea1t \u0111\u1ed9ng t\u1ed1t trong th\u1eddi k\u00ec t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf. Ch\u00fang bao g\u1ed3m c\u00e1c c\u00f4ng ty trong l\u0129nh v\u1ef1c t\u00e0i ch\u00ednh v\u00e0\u00a0h\u00e0ng ti\u00eau d\u00f9ng kh\u00f4ng thi\u1ebft y\u1ebfu.<\/p>\n

Cu\u1ed1i m\u1ed9t chu k\u00ec kinh t\u1ebf, n\u1ec1n kinh t\u1ebf co r\u00fam v\u00e0 t\u0103ng tr\u01b0\u1edfng ch\u1eadm l\u1ea1i. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0 nh\u00e0 ph\u00e2n t\u00edch s\u1ebd chuy\u1ec3n s\u1ef1 ch\u00fa \u00fd c\u1ee7a h\u1ecd sang nghi\u00ean c\u1ee9u c\u00e1c l\u0129nh v\u1ef1c c\u00f3 t\u00ednh ph\u00f2ng th\u1ee7, ch\u1eb3ng h\u1ea1n nh\u01b0 c\u00e1c ti\u1ec7n \u00edch v\u00e0 d\u1ecbch v\u1ee5 vi\u1ec5n th\u00f4ng. Nh\u1eefng l\u0129nh v\u1ef1c n\u00e0y th\u01b0\u1eddng v\u01b0\u1ee3t tr\u1ed9i trong th\u1eddi k\u00ec suy tho\u00e1i kinh t\u1ebf.<\/p>\n

Hai c\u00e1ch ti\u1ebfp c\u1eadn Ph\u00e2n t\u00edch l\u0129nh v\u1ef1c<\/font><\/h3>\n

Hai c\u00e1ch ti\u1ebfp c\u1eadn ph\u1ed5 bi\u1ebfn \u0111\u1ec3 ph\u00e2n t\u00edch l\u0129nh v\u1ef1c<\/b> l\u00e0 c\u00e1ch ph\u00e2n t\u00edch t\u1eeb tr\u00ean xu\u1ed1ng v\u00e0 ph\u00e2n t\u00edch lu\u00e2n chuy\u1ec3n ng\u00e0nh<\/p>\n

Ph\u00e2n t\u00edch t\u1eeb tr\u00ean xu\u1ed1ng<\/b><\/p>\n

C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 s\u1eed d\u1ee5ng ph\u00e2n t\u00edch t\u1eeb tr\u00ean xu\u1ed1ng \u0111\u1ec3 ph\u00e2n t\u00edch l\u0129nh v\u1ef1c tr\u01b0\u1edbc ti\u00ean s\u1ebd t\u1eadp trung v\u00e0o c\u00e1c \u0111i\u1ec1u ki\u1ec7n kinh t\u1ebf v\u0129 m\u00f4 \u0111\u1ec3 t\u00ecm ki\u1ebfm c\u00e1c c\u00f4ng ty c\u00f3 ti\u1ec1m n\u0103ng v\u01b0\u1ee3t tr\u1ed9i. H\u1ecd b\u1eaft \u0111\u1ea7u b\u1eb1ng c\u00e1ch xem x\u00e9t c\u00e1c y\u1ebfu t\u1ed1 kinh t\u1ebf v\u0129 m\u00f4 c\u00f3 t\u00e1c \u0111\u1ed9ng l\u1edbn nh\u1ea5t \u0111\u1ebfn ph\u1ea7n l\u1edbn nh\u1ea5t c\u1ee7a d\u00e2n s\u1ed1 v\u00e0 n\u1ec1n kinh t\u1ebf, nh\u01b0 t\u1ec9 l\u1ec7 th\u1ea5t nghi\u1ec7p, s\u1ea3n l\u01b0\u1ee3ng kinh t\u1ebf v\u00e0 l\u1ea1m ph\u00e1t.<\/p>\n

Sau \u0111\u00f3, h\u1ecd \u0111i s\u00e2u v\u00e0o \u0111\u1ec3 t\u00ecm ra nh\u1eefng l\u0129nh v\u1ef1c ho\u1ea1t \u0111\u1ed9ng t\u1ed1t nh\u1ea5t trong \u0111i\u1ec1u ki\u1ec7n kinh t\u1ebf hi\u1ec7n h\u00e0nh. Cu\u1ed1i c\u00f9ng, h\u1ecd ph\u00e2n t\u00edch c\u00e1c nguy\u00ean t\u1eafc c\u01a1 b\u1ea3n c\u1ee7a c\u00e1c c\u00f4ng ty trong c\u00e1c l\u0129nh v\u1ef1c \u0111\u00f3 \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh c\u00e1c c\u1ed5 phi\u1ebfu mang l\u1ea1i ti\u1ec1m n\u0103ng l\u1ee3i nhu\u1eadn t\u1ed1t nh\u1ea5t trong t\u01b0\u01a1ng lai.<\/p>\n

Ph\u01b0\u01a1ng ph\u00e1p lu\u00e2n chuy\u1ec3n ng\u00e0nh<\/b><\/p>\n

C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0 qu\u1ea3n l\u00ed danh m\u1ee5c \u0111\u1ea7u t\u01b0 s\u1eed d\u1ee5ng c\u00e1ch ti\u1ebfp c\u1eadn lu\u00e2n chuy\u1ec3n ng\u00e0nh \u0111\u1ec3 lu\u00e2n chuy\u1ec3n c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 c\u1ee7a h\u1ecd v\u00e0o v\u00e0 ra kh\u1ecfi c\u00e1c l\u0129nh v\u1ef1c kh\u00e1c nhau c\u1ee7a n\u1ec1n kinh t\u1ebf. H\u1ecd mua v\u00e0 b\u00e1n t\u00f9y thu\u1ed9c v\u00e0o chu k\u00ec c\u1ee7a th\u1ecb tr\u01b0\u1eddng v\u00e0 xu h\u01b0\u1edbng \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn l\u1ee3i nhu\u1eadn c\u1ee7a l\u0129nh v\u1ef1c n\u00e0y so v\u1edbi c\u00e1c l\u0129nh v\u1ef1c kh\u00e1c.<\/p>\n

C\u00e1c chu k\u00ec th\u1ecb tr\u01b0\u1eddng n\u00e0y c\u00f3 th\u1ec3 l\u00e0 theo m\u00f9a, ch\u1eb3ng h\u1ea1n nh\u01b0 \u0111\u1ea7u t\u01b0 v\u00e0o l\u0129nh v\u1ef1c b\u00e1n l\u1ebb tr\u01b0\u1edbc k\u00ec ngh\u1ec9 cu\u1ed1i n\u0103m \u0111\u1ec3 t\u1eadn d\u1ee5ng l\u1ee3i th\u1ebf c\u1ee7a c\u00e1c c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c h\u01b0\u1edfng l\u1ee3i t\u1eeb doanh s\u1ed1 ti\u00eau d\u00f9ng t\u0103ng.<\/p>\n

Nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 lu\u00e2n chuy\u1ec3n c\u1ed5 phi\u1ebfu theo chu k\u00ec (Cyclical stock) v\u00e0 c\u1ed5 phi\u1ebfu ph\u00f2ng th\u1ee7 (Defenseive stock) t\u00f9y thu\u1ed9c v\u00e0o v\u1ecb tr\u00ed hi\u1ec7n t\u1ea1i c\u1ee7a n\u1ec1n kinh t\u1ebf trong chu k\u00ec kinh doanh.<\/p>\n

Ph\u00e2n lo\u1ea1i l\u0129nh v\u1ef1c kinh t\u1ebf<\/font><\/h3>\n

Trong chi\u1ebfn l\u01b0\u1ee3c lu\u00e2n chuy\u1ec3n ng\u00e0nh, nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 \u0111\u1ecbnh ngh\u0129a c\u00e1c ng\u00e0nh theo nhi\u1ec1u c\u00e1ch kh\u00e1c nhau. Nh\u01b0ng m\u1ed9t nguy\u00ean t\u1eafc ph\u00e2n lo\u1ea1i th\u01b0\u1eddng \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng l\u00e0\u00a0Chu\u1ea9n ph\u00e2n ng\u00e0nh to\u00e0n c\u1ea7u\u00a0(GICS).<\/p>\n

GICS bao g\u1ed3m 11 l\u0129nh v\u1ef1c, \u0111\u01b0\u1ee3c chia th\u00e0nh 24 nh\u00f3m ng\u00e0nh, 68 ng\u00e0nh v\u00e0 157 ti\u1ec3u ng\u00e0nh.<\/p>\n

V\u00ed d\u1ee5, l\u0129nh v\u1ef1c m\u1eb7t h\u00e0ng ch\u1ee7 l\u1ef1c ti\u00eau d\u00f9ng bao g\u1ed3m ba nh\u00f3m ng\u00e0nh: 1) b\u00e1n l\u1ebb th\u1ef1c ph\u1ea9m v\u00e0 m\u1eb7t h\u00e0ng ch\u1ee7 l\u1ef1c, 2) th\u1ef1c ph\u1ea9m, \u0111\u1ed3 u\u1ed1ng v\u00e0 thu\u1ed1c l\u00e1, v\u00e0 3) s\u1ea3n ph\u1ea9m gia d\u1ee5ng v\u00e0 c\u00e1 nh\u00e2n.<\/p>\n

C\u00e1c nh\u00f3m ng\u00e0nh n\u00e0y \u0111\u01b0\u1ee3c chia nh\u1ecf th\u00e0nh c\u00e1c ng\u00e0nh c\u00f4ng nghi\u1ec7p, v\u00ed d\u1ee5 th\u1ef1c ph\u1ea9m, \u0111\u1ed3 u\u1ed1ng v\u00e0 thu\u1ed1c l\u00e1, sau \u0111\u00f3 \u0111\u01b0\u1ee3c chia th\u00e0nh c\u00e1c ng\u00e0nh c\u00f4ng nghi\u1ec7p ph\u1ee5.<\/p>\n

Vi\u1ec7c lu\u00e2n chuy\u1ec3n ng\u00e0nh kh\u00f4ng nh\u1ea5t thi\u1ebft ph\u1ea3i gi\u1edbi h\u1ea1n trong c\u00e1c l\u0129nh v\u1ef1c. H\u1ecd c\u00f3 th\u1ec3 ch\u1ecdn t\u1eadp trung c\u00e1c nh\u00f3m ng\u00e0nh, ng\u00e0nh ho\u1eb7c ti\u1ec3u ng\u00e0nh.<\/p>\n

(Theo Investopedia)<\/i><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\n Ph\u00e2n t\u00edch l\u0129nh v\u1ef1c (ti\u1ebfng Anh: Sector Analysis) l\u00e0 vi\u1ec7c \u0111\u00e1nh gi\u00e1 t\u00ecnh h\u00ecnh v\u00e0 tri\u1ec3n v\u1ecdng kinh t\u1ebf v\u00e0 t\u00e0i ch\u00ednh trong m\u1ed9t l\u0129nh v\u1ef1c nh\u1ea5t \u0111\u1ecbnh c\u1ee7a n\u1ec1n kinh t\u1ebf.\n <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[414],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/23703"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=23703"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/23703\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=23703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=23703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=23703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}