Using different techniques, models and strategies investors are trying to construct their own portfolio whose dynamic performance should beat the market, or portfolio that should achieve yields more than the yield of the market in equilibrium. Active search for undervalued stocks, as well as the...

The paper investigates the calendar rebalancing effects on Zagreb Stock Exchange (ZSE) by analyzing daily returns of the CROBEX and the CROBIS indices from September 2003 to March 2025. A regression analysis and a simulated investment strategy are used to examine whether systematic differences...