The research from «Finanz und Wirtschaft» uses recommendations such as «buy», «hold», and «sell». The evaluation is relative to the Swiss equity market, using the Swiss Performance Index (SPI) as a benchmark. The investment horizon of a recommendation is twelve months. In the case of a «Buy» recommendation, «Finanz und Wirtschaft» assumes that the recommended stock will outperform the SPI by at least 5%. In the case of a «Hold» recommendation, «Finanz und Wirtschaft» expects the stock to perform in line with the benchmark (+/- 5%). If the rating is «Sell», the stocks are expected to underperform the SPI by at least 5%. For the return calculation, the price performance and the payout of the share are added together.
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