Desempenho dos fundos de investimento imobiliário em fases do ciclo econômico brasileiro: uma análise comparativa de risco e retorno

Abstract

This study aims to analyze the relationship between risk and return of real estate investment funds in different phases of the economic cycle. The research used a qualitative and quantitative approach, applying indexes such as the Sharpe Ratio, volatility and beta to evaluate the performance of the funds. The results indicate that paper funds present a better risk and return relationship compared to other types of investment, with higher returns during periods of economic expansion and protection against losses in recessions. It is concluded that real estate investment funds are an attractive option for portfolio diversification and protection against market volatility.