{"id":660543,"date":"2023-05-10T18:52:32","date_gmt":"2023-05-10T15:52:32","guid":{"rendered":"https:\/\/www.etoro.com\/trading\/pairs-trading\/"},"modified":"2025-10-30T13:49:12","modified_gmt":"2025-10-30T11:49:12","slug":"pairs-trading","status":"publish","type":"page","link":"https:\/\/www.etoro.com\/cs-cz\/trading\/pairs-trading\/","title":{"rendered":"Jak funguje obchodov\u00e1n\u00ed s p\u00e1ry"},"content":{"rendered":"\n<p class=\"is-style-summary\">Obchodov\u00e1n\u00ed v p\u00e1rech je strategie zam\u011b\u0159en\u00e1 na vyu\u017eit\u00ed kr\u00e1tkodob\u00fdch cenov\u00fdch nerovnov\u00e1h p\u0159i sou\u010dasn\u00e9m \u0159\u00edzen\u00ed rizika. Tento p\u0159\u00edstup se op\u00edr\u00e1 o anal\u00fdzu korelace mezi aktivy a hled\u00e1n\u00ed p\u0159\u00edle\u017eitost\u00ed k efektivn\u00edmu vstupu do trhu.<\/p>\n\n\n\n\n\n\n<hr class=\"wp-block-separator wp-block-separator-color-dark-grey wp-block-separator-spaces-medium wp-block-separator-weight-1\"\/>\n\n\n\n<p><strong>Finan\u010dn\u00ed trhy se neust\u00e1le pohybuj\u00ed, a\u0165 u\u017e sm\u011brem vzh\u016fru nebo dol\u016f, v kr\u00e1tkodob\u00e9m i dlouhodob\u00e9m horizontu<\/strong>. S t\u00edm souvis\u00ed i riziko spojen\u00e9 s p\u0159\u00edm\u00fdmi <a href=\"https:\/\/www.etoro.com\/cs-cz\/academy\/trading\/\">obchodn\u00edmi strategiemi<\/a>, kdy v\u00fdsledek obchodu z\u00e1vis\u00ed na pohybu ceny dan\u00e9ho aktiva. Pokud se trh vyv\u00edj\u00ed opa\u010dn\u00fdm sm\u011brem, ne\u017e o\u010dek\u00e1v\u00e1te, vznik\u00e1 takzvan\u00e9 \u201ctr\u017en\u00ed riziko\u201d.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"756\" height=\"400\" src=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/How-Pairs-Trading-Works_Body-Image-1_-Market-Neutral-Strategies-1-1.png\" alt=\"\" class=\"wp-image-660612 wp-image-desktop\" srcset=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/How-Pairs-Trading-Works_Body-Image-1_-Market-Neutral-Strategies-1-1.png 756w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/How-Pairs-Trading-Works_Body-Image-1_-Market-Neutral-Strategies-1-1-300x159.png 300w\" sizes=\"(max-width: 756px) 100vw, 756px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Tr\u017en\u011b neutr\u00e1ln\u00ed strategie<\/h2>\n\n\n\n<p><a href=\"https:\/\/www.etoro.com\/cs-cz\/news-and-analysis\/trading\/market-neutral-strategy\/\">Tr\u017en\u011b neutr\u00e1ln\u00ed strategie<\/a> jsou navr\u017eeny tak, aby minimalizovaly tr\u017en\u00ed riziko a z\u00e1rove\u0148 vyu\u017e\u00edvaly cenov\u00fdch v\u00fdkyv\u016f. Funguj\u00ed na principu <strong>sou\u010dasn\u00e9ho dr\u017een\u00ed dlouh\u00fdch i kr\u00e1tk\u00fdch pozic na v\u00edce aktivech<\/strong>.&nbsp;<\/p>\n\n\n\n<p><strong>Ztr\u00e1ty na jedn\u00e9 pozici by m\u011bly b\u00fdt kompenzov\u00e1ny zisky na druh\u00e9<\/strong>, \u010d\u00edm\u017e je mo\u017en\u00e9 sn\u00ed\u017ei celkovou expozici v\u016f\u010di pohyb\u016fm trhu.&nbsp;<\/p>\n\n\n\n<p><mark>Tato strategie v podstat\u011b funguje tak, \u017ee <strong>identifikujete dva (nebo v\u00edce) finan\u010dn\u00ed instrumenty, jejich\u017e cenov\u00e9 pohyby historicky vykazuj\u00ed tendenci vz\u00e1jemn\u011b si odpov\u00eddat,<\/strong> vy\u010dk\u00e1te na p\u0159\u00edle\u017eitost, kdy je cenov\u00fd vztah abnorm\u00e1ln\u00ed (ceny se vyv\u00edj\u00ed opa\u010dn\u011b), a pak obchodujete s p\u0159edpokladem, \u017ee se cenov\u00fd vztah vr\u00e1t\u00ed k norm\u00e1lu.<\/mark><\/p>\n\n\n\n<p><strong>Podobn\u00e9 strategie mohou b\u00fdt opravdu slo\u017eit\u00e9<\/strong>. Mohou zahrnovat cel\u00e9 ko\u0161e aktiv a vyu\u017e\u00edvat v\u00fdkonn\u00e9 statistick\u00e9 algoritmy. Ale jde to i jinak.<\/p>\n\n\n\n<div class=\"wp-block-etoro-tip wp-block-etoro-tip-border-yellow\"><span class=\"wp-block-etoro-tip-icon\"><\/span><div class=\"wp-block-etoro-tip-text\">\n<p><strong>Tip: <\/strong>Pokud se zat\u00edm neorientujete v obchodn\u00edch a investi\u010dn\u00edch strategi\u00edch, m\u016f\u017eete vyu\u017e\u00edt p\u0159edp\u0159ipraven\u00e1 investi\u010dn\u00ed portfolia a samostatn\u011b investovat, a\u017e z\u00edsk\u00e1te dostatek znalost\u00ed.<\/p>\n<\/div><\/div>\n\n\n\n<p><strong>P\u00e1rov\u00e9 obchodov\u00e1n\u00ed je tr\u017en\u011b neutr\u00e1ln\u00ed strategi\u00ed,<\/strong> kter\u00e1, jak napov\u00edd\u00e1 n\u00e1zev, vyu\u017e\u00edv\u00e1 pouze dv\u011b aktiva. V n\u00e1sleduj\u00edc\u00ed \u010d\u00e1sti si uk\u00e1\u017eeme praktick\u00fd p\u0159\u00edklad, kde vysv\u011btl\u00edme <a href=\"https:\/\/www.efrank.cz\/blog\/principy-bezpecneho-investovani\/\" rel=\"nofollow noopener noreferrer\" >principy<\/a>, kter\u00e9 tato strategie vyu\u017e\u00edv\u00e1, a uk\u00e1\u017eeme mo\u017enou metodiku pro jednoduchou strategii obchodov\u00e1n\u00ed s p\u00e1ry.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Obchodov\u00e1n\u00ed s p\u00e1ry<\/h2>\n\n\n\n<p>Obchodov\u00e1n\u00ed s p\u00e1ry je <strong>strategie, p\u0159i kter\u00e9 se sou\u010dasn\u011b otev\u00edraj\u00ed dv\u011b pozice \u2013 jedna dlouh\u00e1 a jedna kr\u00e1tk\u00e1<\/strong> \u2013 na dvou vz\u00e1jemn\u011b souvisej\u00edc\u00edch aktivech, s c\u00edlem vyu\u017e\u00edt jejich relativn\u00ed cenov\u00fd pohyb.<\/p>\n\n\n\n<p><mark><strong>Z\u00e1kladn\u00ed princip obchodov\u00e1n\u00ed v p\u00e1rech <\/strong>se d\u00e1 popsat takto:<\/mark><\/p>\n\n\n\n<ul class=\"wp-block-list wp-block-list wp-block-list-circle\">\n<li><mark>Najd\u011bte dva n\u00e1stroje, jejich\u017e <strong>ceny jsou vysoce<\/strong> <strong>korelovan\u00e9.<\/strong><\/mark><\/li>\n\n\n\n<li><mark>Vy\u010dkejte, a\u017e se <strong>cenov\u00fd vztah mezi nimi odch\u00fdl\u00ed<\/strong> od historick\u00e9ho norm\u00e1lu.<\/mark><\/li>\n\n\n\n<li><mark><strong>Prodejte n\u00e1stroj, kter\u00fd se zd\u00e1 b\u00fdt nadhodnocen\u00fd <\/strong>a nakupte ten, kter\u00fd se zd\u00e1 b\u00fdt podhodnocen\u00fd.<\/mark><\/li>\n<\/ul>\n\n\n\n<p>Va\u0161\u00edm c\u00edlem je <strong>opustit pozice, jakmile se vztah vybran\u00fdch aktiv za\u010dne narovn\u00e1vat<\/strong>. Poj\u010fme si tyto t\u0159i kroky probrat podrobn\u011bji.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">V\u00fdb\u011br koreluj\u00edc\u00edch n\u00e1stroj\u016f<\/h3>\n\n\n\n<p>V\u00fdchoz\u00edm bodem je <strong>pr\u016fzkum trhu a identifikace dvou n\u00e1stroj\u016f<\/strong>, u kter\u00fdch m\u00e1te d\u016fvod se domn\u00edvat, \u017ee jejich ceny koreluj\u00ed.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"756\" height=\"400\" src=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/How-Pairs-Trading-Works_Body-Image-2_-Position-sizing-of-a-pairs-trade-1-1.png\" alt=\"\" class=\"wp-image-660633 wp-image-desktop\" srcset=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/How-Pairs-Trading-Works_Body-Image-2_-Position-sizing-of-a-pairs-trade-1-1.png 756w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/How-Pairs-Trading-Works_Body-Image-2_-Position-sizing-of-a-pairs-trade-1-1-300x159.png 300w\" sizes=\"(max-width: 756px) 100vw, 756px\" \/><\/figure>\n\n\n\n<p>Typick\u00fdm p\u0159\u00edkladem jsou <strong>dv\u011b spole\u010dnosti, kter\u00e9 p\u016fsob\u00ed ve stejn\u00e9m sektoru<\/strong>, maj\u00ed podobn\u00fd obor podnik\u00e1n\u00ed, p\u016fsob\u00ed ve stejn\u00fdch lokalit\u00e1ch a prod\u00e1vaj\u00ed podobn\u00e9mu typu klient\u016f. Mohlo by j\u00edt nap\u0159\u00edklad o britsk\u00e9 banky, n\u011bmeck\u00e9 v\u00fdrobce automobil\u016f nebo americk\u00e9 telekomunika\u010dn\u00ed spole\u010dnosti.<\/p>\n\n\n\n<p>Pokud se budeme dr\u017eet prvn\u00edho p\u0159\u00edkladu, dejme tomu, \u017ee se zaj\u00edm\u00e1te o spole\u010dnosti Natwest Group a Lloyds Banking Group. <strong>Pokud ve Velk\u00e9 Brit\u00e1nii dojde ke zm\u011bn\u011b z\u00e1kon\u016f, kter\u00e9 nebudou pro banky p\u0159\u00edzniv\u00e9, m\u016f\u017eete o\u010dek\u00e1vat, \u017ee ob\u011b spole\u010dnosti zaznamenaj\u00ed pokles hodnoty<\/strong>.&nbsp;<\/p>\n\n\n\n<p>A naopak sn\u00ed\u017een\u00ed \u00farokov\u00fdch sazeb a zv\u00fd\u0161en\u00ed popt\u00e1vky po financov\u00e1n\u00ed je pravd\u011bpodobn\u011b ob\u011b podpo\u0159\u00ed.<\/p>\n\n\n\n<p>Podobn\u00e9 \u00favahy, by\u0165 sebelep\u0161\u00ed, si <strong>v\u017edy ov\u011b\u0159te i porovn\u00e1n\u00edm historick\u00fdch dat vybran\u00fdch spole\u010dnost\u00ed<\/strong>, abyste si byli jisti, \u017ee korelace funguje.<\/p>\n\n\n\n<div class=\"wp-block-etoro-emphasis wp-block-etoro-emphasis-border-green\">\n<p>Va\u0161\u00edm c\u00edlem je opustit pozice, jakmile se vztah vybran\u00fdch aktiv za\u010dne narovn\u00e1vat.<\/p>\n<\/div>\n\n\n\n<p>Pro \u00fa\u010dely tohoto p\u0159\u00edkladu vyu\u017eijeme korela\u010dn\u00ed koeficient, jak jej vypo\u010d\u00edt\u00e1vaj\u00ed tabulkov\u00e9 procesory, nap\u0159\u00edklad <a href=\"https:\/\/support.microsoft.com\/cs-cz\/office\/correl-funkce-995dcef7-0c0a-4bed-a3fb-239d7b68ca92\" target=\"_blank\" rel=\"noreferrer noopener\">Microsoft Excel<\/a> a <a href=\"https:\/\/support.google.com\/docs\/answer\/3093990?hl=cs\" rel=\"nofollow noopener noreferrer\" >Google Sheets<\/a>. P\u0159edev\u0161\u00edm proto, \u017ee je relativn\u011b jednoduch\u00fd. <strong>Existuje mnoho zp\u016fsob\u016f, jak vypo\u010d\u00edtat vztah mezi dv\u011bma soubory dat<\/strong>, a v praxi mohou l\u00e9pe fungovat slo\u017eit\u011bj\u0161\u00ed zp\u016fsoby.<\/p>\n\n\n\n<p><strong>Nejprve se poj\u010fme pod\u00edvat na n\u011bjak\u00e1 re\u00e1ln\u00e1 tr\u017en\u00ed data<\/strong>. V tabulce n\u00ed\u017ee najdete korelaci mezi p\u00e1ry <a href=\"https:\/\/www.etoro.com\/cs-cz\/stocks\/trading-and-investing-in-stocks\/\">akci\u00ed z r\u016fzn\u00fdch sektor\u016f<\/a>. Korelace je vypo\u010d\u00edt\u00e1na na z\u00e1klad\u011b dat od ledna 2022 do ledna 2023.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"wp-block-table-content\"><div class=\"wp-block-table-content-nav wp-block-table-content-nav-left\"><div class=\"wp-block-table-content-nav-arrow wp-block-table-content-nav-arrow-left\"><\/div><\/div><div class=\"wp-block-table-content-nav wp-block-table-content-nav-right\"><div class=\"wp-block-table-content-nav-arrow wp-block-table-content-nav-arrow-right\"><\/div><\/div><div class=\"wp-block-table-content-table\"><table><thead><tr><th class=\"has-text-align-center\" data-align=\"center\"><strong>Spole\u010dnosti<\/strong><\/th><th class=\"has-text-align-center\" data-align=\"center\"><strong>Sektor<\/strong><\/th><th class=\"has-text-align-center\" data-align=\"center\"><strong>Korelace<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/lloy.l\">Lloyds<\/a><\/td><td class=\"has-text-align-center\" data-align=\"center\">Bankovnictv\u00ed<\/td><td class=\"has-text-align-center\" data-align=\"center\">0,70<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/barc.l\">Barclays<\/a><\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/sbry.l\">Sainsbury<\/a><\/td><td class=\"has-text-align-center\" data-align=\"center\">Maloobchod<\/td><td class=\"has-text-align-center\" data-align=\"center\">0,79<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/tsco.l\">Tesco<\/a><\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/lgen.l\">Legal &amp; General<\/a><\/td><td class=\"has-text-align-center\" data-align=\"center\">Poji\u0161\u0165ovnictv\u00ed<\/td><td class=\"has-text-align-center\" data-align=\"center\">0,61<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/av.l\">Aviva<\/a><\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/hsba.l\">HSBC<\/a><\/td><td class=\"has-text-align-center\" data-align=\"center\">Bankovnictv\u00ed<\/td><td class=\"has-text-align-center\" data-align=\"center\">0,63<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/stan.l\">Standard Chartered<\/a><\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/aal.l\">Anglo American<\/a><\/td><td class=\"has-text-align-center\" data-align=\"center\">T\u011b\u017eebn\u00ed pr\u016fmysl<\/td><td class=\"has-text-align-center\" data-align=\"center\">0,87<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/anto.l\">Antofagasta<\/a><\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/bdev.l\">Barratt Developments<\/a><\/td><td class=\"has-text-align-center\" data-align=\"center\">V\u00fdstavba<\/td><td class=\"has-text-align-center\" data-align=\"center\">0,98<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/tw.l\">Taylor Wimpey<\/a><\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Haleon<\/td><td class=\"has-text-align-center\" data-align=\"center\">Spot\u0159ebn\u00ed zbo\u017e\u00ed<\/td><td class=\"has-text-align-center\" data-align=\"center\">0,75<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/ulvr.l\">Unilever<\/a><\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/hsba.l\">HSBC<\/a><\/td><td class=\"has-text-align-center\" data-align=\"center\">Bankovnictv\u00ed<\/td><td class=\"has-text-align-center\" data-align=\"center\">0,53<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/nwg.l\">Natwest<\/a><\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><td class=\"has-text-align-center\" data-align=\"center\"><\/td><\/tr><\/tbody><\/table><\/div><\/div><\/figure>\n\n\n\n<p><a href=\"https:\/\/finance.yahoo.com\/quote\/LLOY.L\/history?p=LLOY.L\" target=\"_blank\" rel=\"noreferrer noopener\"><em>Data vych\u00e1z\u00ed z upraven\u00fdch uzav\u00edrac\u00edch cen<\/em><\/a><\/p>\n\n\n\n<p><strong>Pokud mezi sebou akcie perfektn\u011b koreluj\u00ed, v\u00fdsledn\u00e1 hodnota bude 1. Pokud spolu naopak nekoreluj\u00ed v\u016fbec, hodnota bude 0<\/strong>. Spole\u010dnosti jsme vyb\u00edrali z indexu <a href=\"https:\/\/www.etoro.com\/cs-cz\/markets\/uk100\">FTSE 100<\/a> a porovn\u00e1vali s obdobn\u00fdmi spole\u010dnostmi, kter\u00e9 by m\u011bli do ur\u010dit\u00e9 m\u00edry korelovat.&nbsp;<\/p>\n\n\n\n<p>V tabulce m\u016f\u017eete vid\u011bt, \u017ee <strong>n\u011bkter\u00e9 spole\u010dnosti spolu koreluj\u00ed v\u00edce a n\u011bkter\u00e9 m\u00e9n\u011b<\/strong>. Pro vysv\u011btlen\u00ed si vybereme spole\u010dnosti, kter\u00e9 vykazuj\u00ed vy\u0161\u0161\u00ed m\u00edru korelace. Nap\u0159. Antofagasta a Anglo American.<\/p>\n\n\n\n<p>Pro jistotu si je\u0161t\u011b <strong>ov\u011b\u0159\u00edme, \u017ee korelace p\u0159etrv\u00e1v\u00e1 d\u00e9le a \u017ee vykazovan\u00e1 korelace nen\u00ed n\u00e1hodn\u00e1<\/strong>. Pokud vezmeme data ji\u017e od ledna 2018, vyjde n\u00e1m koeficient na 0,91, tak\u017ee korelace je je\u0161t\u011b siln\u011bj\u0161\u00ed. D\u00e1le se mus\u00edme p\u0159esv\u011bd\u010dit, zda je tento pom\u011br z historick\u00e9ho hlediska norm\u00e1ln\u00ed, nebo ne.<\/p>\n\n\n\n<div class=\"wp-block-etoro-tip wp-block-etoro-tip-border-yellow\"><span class=\"wp-block-etoro-tip-icon\"><\/span><div class=\"wp-block-etoro-tip-text\">\n<p><strong>Tip:<\/strong> Historick\u00e1 data nejrychleji vy\u010dtete z cenov\u00fdch graf\u016f dan\u00fdch aktiv. M\u016f\u017eete vyu\u017e\u00edt i <a href=\"https:\/\/www.etoro.com\/cs-cz\/news-and-analysis\/trading\/advanced-analysis-tools-available-on-platform\/\">pokro\u010dil\u00e9 n\u00e1stroje<\/a> pro grafy, kter\u00e9 v\u00e1m usnadn\u00ed pr\u00e1ci.&nbsp;<\/p>\n<\/div><\/div>\n\n\n\n<p>Jedn\u00edm ze zp\u016fsob\u016f, jak to zjistit, je <strong>zhodnotit pom\u011br cen t\u011bchto dvou akci\u00ed<\/strong>. Graf najdete zde:<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/finance.yahoo.com\/quote\/ANTO.L\/history?p=ANTO.L\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1324\" height=\"820\" src=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/image1-6.png\" alt=\"\" class=\"wp-image-660677 wp-image-desktop\" srcset=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/image1-6.png 1324w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/image1-6-300x186.png 300w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/image1-6-1024x634.png 1024w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/image1-6-768x476.png 768w\" sizes=\"(max-width: 1324px) 100vw, 1324px\" \/><\/a><\/figure>\n\n\n\n<p class=\"is-style-disclaimer\"><em>Data vych\u00e1z\u00ed z upraven\u00fdch uzav\u00edrac\u00edch cen<\/em><\/p>\n\n\n\n<p>Tento graf zobrazuje pom\u011br cen akci\u00ed&nbsp;<strong>Anglo American<\/strong>&nbsp;a&nbsp;<strong>Antofagasta<\/strong>&nbsp;v \u010dase.<\/p>\n\n\n\n<p><a href=\"https:\/\/finance.yahoo.com\/quote\/ANTO.L\/history?p=ANTO.L\" target=\"_blank\" rel=\"noreferrer noopener\">Data vych\u00e1z\u00ed z upraven\u00fdch uzav\u00edrac\u00edch cen<\/a><\/p>\n\n\n\n<p><strong>Zaj\u00edm\u00e1 n\u00e1s, v jak\u00e9m rozmez\u00ed se hodnota pom\u011bru nach\u00e1z\u00ed<\/strong>. B\u011bhem sledovan\u00e9ho obdob\u00ed se horn\u00ed hranice tohoto rozmez\u00ed pohybuje kolem 2,4 (i kdy\u017e v \u00fanoru 2022 jsme zaznamenali n\u00e1r\u016fst bl\u00edzko hodnoty 2,9) a doln\u00ed hranice je zhruba 1,6. Z\u00e1rove\u0148 si v\u0161imn\u011bte tendence navracet se na st\u0159edn\u00ed \u00farove\u0148, kter\u00e1 se pohybuje kolem hodnoty 2,1.<\/p>\n\n\n\n<p>To v\u0161e m\u016f\u017eeme<strong> vyu\u017e\u00edt pro stanoven\u00ed pravidel v na\u0161\u00ed <\/strong><a href=\"https:\/\/www.etoro.com\/cs-cz\/news-and-analysis\/trading\/long-short-strategy\/\"><strong>obchodn\u00ed strategii<\/strong><\/a>. Pokud vid\u00edme, \u017ee pom\u011br stoup\u00e1 k horn\u00ed hranici rozp\u011bt\u00ed, prod\u00e1me Anglo American a koup\u00edme Antofagastu. Pokud vid\u00edme, \u017ee pom\u011br kles\u00e1 k doln\u00ed hranici, postupujeme opa\u010dn\u011b.<\/p>\n\n\n\n<p><mark>Pr\u00e1v\u011b proto jsou pro obchodov\u00e1n\u00ed s p\u00e1ry vhodn\u00e9 CFD:<strong> pot\u0159ebujeme m\u00edt mo\u017enost vstupovat jak do <\/strong><a href=\"https:\/\/www.etoro.com\/cs-cz\/trading\/short-selling\/\"><strong>kr\u00e1tk\u00fdch<\/strong><\/a><strong>, tak do dlouh\u00fdch pozic<\/strong>.<\/mark><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Stanoven\u00ed velikosti pozic p\u0159i p\u00e1rov\u00e9m obchodov\u00e1n\u00ed<\/h3>\n\n\n\n<p>Proto\u017ee c\u00edlem strategie je minimalizovat tr\u017en\u00ed riziko,<strong> sna\u017e\u00edte se, aby se va\u0161e dv\u011b pozice vz\u00e1jemn\u011b zajistily<\/strong>, tak\u017ee chcete m\u00edt stejnou expozici na ka\u017ed\u00e9 polovin\u011b p\u00e1rov\u00e9ho obchodu.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"756\" height=\"400\" src=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/How-Pairs-Trading-Works_Body-Image-3_-Assumptions-and-Risks-of-Pairs-Trading-1-1.png\" alt=\"\" class=\"wp-image-660591 wp-image-desktop\" srcset=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/How-Pairs-Trading-Works_Body-Image-3_-Assumptions-and-Risks-of-Pairs-Trading-1-1.png 756w, https:\/\/www.etoro.com\/wp-content\/uploads\/2023\/07\/How-Pairs-Trading-Works_Body-Image-3_-Assumptions-and-Risks-of-Pairs-Trading-1-1-300x159.png 300w\" sizes=\"(max-width: 756px) 100vw, 756px\" \/><\/figure>\n\n\n\n<p>\u0158ekn\u011bme, \u017ee je 20. kv\u011btna 2022 a my jsme zaznamenali n\u00e1r\u016fst pom\u011bru z hodnoty bl\u00edzk\u00e9 pr\u016fm\u011bru a\u017e na hodnotu 2,4. Proto se rozhodneme zaujmout kr\u00e1tkou pozici v Anglo American a dlouhou v Antofagast\u011b. <strong>N\u00e1\u0161 p\u0159edpoklad je, \u017ee pom\u011br \u010dasem klesne zp\u011bt k hodnot\u011b 2,1.<\/strong><\/p>\n\n\n\n<blockquote class=\"wp-block-quote wp-block-quote-scheme-green is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cTentokr\u00e1t je to jin\u00e9. \u010cty\u0159i nejnebezpe\u010dn\u011bj\u0161\u00ed slova ve sv\u011bt\u011b investic.\u201d<\/p>\n<cite><a href=\"https:\/\/www.kurzy.cz\/zpravy\/511384-slavne-vyroky-ktere-se-vam-na-trzich-mohou-hodit\/\" rel=\"nofollow noopener noreferrer\" >John Templeton<\/a><\/cite><\/blockquote>\n\n\n\n<p>Chceme <strong>otev\u0159\u00edt pozici ve v\u00fd\u0161i 10 000 USD na ka\u017ed\u00e9m aktivu,<\/strong> tak\u017ee nakoup\u00edme n\u00e1sleduj\u00edc\u00ed mno\u017estv\u00ed akci\u00ed:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"wp-block-table-content\"><div class=\"wp-block-table-content-nav wp-block-table-content-nav-left\"><div class=\"wp-block-table-content-nav-arrow wp-block-table-content-nav-arrow-left\"><\/div><\/div><div class=\"wp-block-table-content-nav wp-block-table-content-nav-right\"><div class=\"wp-block-table-content-nav-arrow wp-block-table-content-nav-arrow-right\"><\/div><\/div><div class=\"wp-block-table-content-table\"><table><thead><tr><th class=\"has-text-align-center\" data-align=\"center\"><\/th><th class=\"has-text-align-center\" data-align=\"center\"><strong>Anglo American<\/strong><\/th><th class=\"has-text-align-center\" data-align=\"center\"><strong>Antofagasta<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">P\u0159\u00edkaz pro otev\u0159en\u00ed pozic<\/td><td class=\"has-text-align-center\" data-align=\"center\">Prodat 280 akci\u00ed<\/td><td class=\"has-text-align-center\" data-align=\"center\">Koupit 690 akci\u00ed<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Cena za akcii<\/td><td class=\"has-text-align-center\" data-align=\"center\">35,75 USD<\/td><td class=\"has-text-align-center\" data-align=\"center\">14,50 USD<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Hodnota pozice<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>10 010 USD<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>10 005 USD<\/strong><\/td><\/tr><\/tbody><\/table><\/div><\/div><\/figure>\n\n\n\n<p><strong>S postupem \u010dasu se pom\u011br vrac\u00ed bl\u00ed\u017ee ke sv\u00e9mu p\u011btilet\u00e9mu pr\u016fm\u011bru.<\/strong> Vy se 23. ledna rozhodnete uzav\u0159\u00edt obchod a vybrat zisk. Proto nakoup\u00edte akcie Anglo American a prod\u00e1te Antofagastu:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"wp-block-table-content\"><div class=\"wp-block-table-content-nav wp-block-table-content-nav-left\"><div class=\"wp-block-table-content-nav-arrow wp-block-table-content-nav-arrow-left\"><\/div><\/div><div class=\"wp-block-table-content-nav wp-block-table-content-nav-right\"><div class=\"wp-block-table-content-nav-arrow wp-block-table-content-nav-arrow-right\"><\/div><\/div><div class=\"wp-block-table-content-table\"><table><thead><tr><th class=\"has-text-align-center\" data-align=\"center\"><\/th><th class=\"has-text-align-center\" data-align=\"center\"><strong>Anglo American<\/strong><\/th><th class=\"has-text-align-center\" data-align=\"center\"><strong>Antofagasta<\/strong><\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">P\u0159\u00edkaz pro uzav\u0159en\u00ed pozic<\/td><td class=\"has-text-align-center\" data-align=\"center\">Koupit 280 akci\u00ed<\/td><td class=\"has-text-align-center\" data-align=\"center\">Prodat 690 akci\u00ed<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Cena za akcii<\/td><td class=\"has-text-align-center\" data-align=\"center\">35,88 USD<\/td><td class=\"has-text-align-center\" data-align=\"center\">17,60 USD<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">Hodnota pozice<\/td><td class=\"has-text-align-center\" data-align=\"center\">10 046,40 USD<\/td><td class=\"has-text-align-center\" data-align=\"center\">12 144 USD<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Rozd\u00edl<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>&#8211; 36,40 USD<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>2 139 USD<\/strong><\/td><\/tr><\/tbody><\/table><\/div><\/div><\/figure>\n\n\n\n<p>Celkov\u00fd zisk = &nbsp; &nbsp; 2 139 USD<\/p>\n\n\n\n<p>&nbsp;&nbsp;&nbsp;&nbsp;-36,40 USD<\/p>\n\n\n\n<p>2 102,60 USD<\/p>\n\n\n\n<p>Ov\u0161em vzhledem k tomu, \u017ee vyu\u017e\u00edv\u00e1te k obchodu CFD,<strong> pro \u010dist\u00fd zisk mus\u00edte je\u0161t\u011b vz\u00edt v \u00favahu zaplacen\u00e9 <\/strong><a href=\"https:\/\/www.etoro.com\/cs-cz\/trading\/fees\/\"><strong>poplatky<\/strong><\/a><strong>.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">P\u0159edpoklady pro fungov\u00e1n\u00ed a rizika obchodov\u00e1n\u00ed s p\u00e1ry<\/h2>\n\n\n\n<p><mark><strong>Hlavn\u00edm p\u0159edpokladem pro tuto strategii je, \u017ee historick\u00fd cenov\u00fd vztah bude platit i v budoucnu.<\/strong> Ruku v ruce s t\u00edm jde p\u0159edpoklad, \u017ee kdy\u017e se cenov\u00fd pom\u011br odch\u00fdl\u00ed od pr\u016fm\u011bru, \u010dasem se vr\u00e1t\u00ed zp\u011bt.<\/mark><\/p>\n\n\n\n<p>Je zde tedy <strong>riziko, \u017ee se tyto p\u0159edpoklady nepotvrd\u00ed<\/strong> a nastane n\u011bco, co ovlivn\u00ed jednu akcii, ale druhou ne. Nebo se stane n\u011bco, co bude m\u00edt jin\u00fd vliv na ka\u017edou ze spole\u010dnost\u00ed.<\/p>\n\n\n\n<p>Proto je pot\u0159eba p\u0159i vyu\u017e\u00edv\u00e1n\u00ed p\u00e1rov\u00e9 obchodn\u00ed strategie<strong> pe\u010dliv\u011b monitorovat <\/strong><a href=\"https:\/\/www.etoro.com\/cs-cz\/news-and-analysis\/\"><strong>novinky na trz\u00edch<\/strong><\/a><strong>, kter\u00e9 by mohly ovlivnit \u201eva\u0161e\u201c spole\u010dnosti.&nbsp;<\/strong><\/p>\n\n\n\n<p>Dal\u0161\u00edm z\u00e1sadn\u00edm rizikem je, \u017ee <strong>\u010d\u00edm d\u00e9le dr\u017e\u00edte pozice v podob\u011b <\/strong><a href=\"https:\/\/www.etoro.com\/cs-cz\/trading\/cfd\/\"><strong>CFD<\/strong><\/a><strong>, t\u00edm vy\u0161\u0161\u00ed n\u00e1klady se s nimi poj\u00ed.<\/strong> Ty samoz\u0159ejm\u011b sni\u017euj\u00ed v\u00e1\u0161 zisk a v extr\u00e9mn\u00edm p\u0159\u00edpad\u011b mohou zisk p\u0159em\u011bnit na ztr\u00e1tu. Proto vyu\u017e\u00edvejte obchodn\u00ed platformu, kde m\u016f\u017eete v\u00fd\u0161i poplatk\u016f snadno monitorovat.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Shrnut\u00ed<\/h2>\n\n\n\n<p>Obchodov\u00e1n\u00ed s p\u00e1ry je <strong>strategie, kter\u00e1 m\u016f\u017ee pomoci s \u0159\u00edzen\u00edm rizika<\/strong>. P\u0159esto je d\u016fle\u017eit\u00e9 br\u00e1t v \u00favahu specifick\u00e1 rizika spojen\u00e1 s touto metodou.&nbsp;&nbsp;<\/p>\n\n\n\n<p>V\u00fdhodou je <strong>mo\u017enost za\u010d\u00edt s jednoduchou anal\u00fdzou<\/strong> a postupn\u011b p\u0159ech\u00e1zet ke slo\u017eit\u011bj\u0161\u00edm technik\u00e1m. P\u0159ed pou\u017eit\u00edm v re\u00e1ln\u00e9m obchodov\u00e1n\u00ed je vhodn\u00e9 nov\u00fd p\u0159\u00edstup otestovat na <a href=\"https:\/\/www.etoro.com\/cs-cz\/trading\/demo-account\/\">demo \u00fa\u010dtu<\/a>.<\/p>\n\n\n\n<p>Tento \u010dl\u00e1nek je <strong>\u010dtvrt\u00fdm d\u00edlem z p\u011btid\u00edln\u00e9ho kurzu zam\u011b\u0159en\u00e9ho na obchodn\u00ed vzd\u011bl\u00e1v\u00e1n\u00ed<\/strong>, kter\u00fd p\u0159esahuje r\u00e1mec z\u00e1kladn\u00edch dovednost\u00ed. Posledn\u00ed d\u00edl s\u00e9rie popisuje <a href=\"https:\/\/www.etoro.com\/cs-cz\/trading\/trading-systems\/\">anatomii obchodn\u00edho syst\u00e9mu<\/a>.<\/p>\n\n\n\n<p>Nav\u0161tivte <a href=\"https:\/\/www.etoro.com\/cs-cz\/academy\/\">Akademii eToro<\/a>, kde najdete cel\u00fd kurz a dal\u0161\u00ed u\u017eite\u010dn\u00e9 zdroje informac\u00ed.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Kv\u00edz<\/h2>\n\n\n\n<div class=\"wp-block-etoro-quizzes\">\n<div class=\"wp-block-etoro-quiz\" data-answer=\"2\"><div class=\"wp-block-etoro-quiz-body\"><div class=\"wp-block-etoro-quiz-question\">Jak\u00e9 riziko se sna\u017e\u00ed obchodov\u00e1n\u00ed p\u00e1r\u016f odstranit?\u00a0<\/div>\n<div class=\"wp-block-etoro-quiz-item\">Ve\u0161ker\u00e9 riziko<\/div>\n\n\n\n<div class=\"wp-block-etoro-quiz-item\">Syst\u00e9mov\u00e9 riziko<\/div>\n\n\n\n<div class=\"wp-block-etoro-quiz-item\">Tr\u017en\u00ed riziko\u00a0<\/div>\n\n\n\n<div class=\"wp-block-etoro-quiz-item\">\u00a0Riziko protistrany<\/div>\n<\/div><div class=\"wp-block-etoro-quiz-result\">\u00a0<\/div><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\">\u010cast\u00e9 dotazy<\/h2>\n\n\n\n<dl class=\"wp-block-etoro-faq\">\n<div class=\"wp-block-etoro-faq-item\"><dt class=\"wp-block-etoro-faq-item-question\">Odstra\u0148uje obchodov\u00e1n\u00ed s p\u00e1ry ve\u0161ker\u00e1 rizika?<\/dt><dd class=\"wp-block-etoro-faq-item-answer\">\n<p>Rozhodn\u011b ne. Neexistuje \u017e\u00e1dn\u00e1 obchodn\u00ed ani investi\u010dn\u00ed strategie, kter\u00e1 by zcela eliminovala <a href=\"https:\/\/www.etoro.com\/cs-cz\/customer-service\/general-risk-disclosure\/\">ve\u0161ker\u00e1 rizika<\/a>. Pokud by takov\u00e1 byla, pom\u011br rizika a v\u00fdnosu napov\u00edd\u00e1, \u017ee by va\u0161e prost\u0159edky moc nezhodnotila. C\u00edlem obchodov\u00e1n\u00ed v p\u00e1rech je sn\u00ed\u017eit tr\u017en\u00ed riziko. Ale dal\u0161\u00ed rizika, jako je riziko protistrany, syst\u00e9mov\u00e9 riziko atd, jsou st\u00e1le p\u0159\u00edtomna, tak\u017ee se ujist\u011bte, \u017ee odpov\u00eddaj\u00ed va\u0161\u00ed toleranci.<\/p>\n<\/dd><\/div>\n\n\n\n<div class=\"wp-block-etoro-faq-item\"><dt class=\"wp-block-etoro-faq-item-question\">Lze obchodovat v p\u00e1rech pouze s akciemi?<\/dt><dd class=\"wp-block-etoro-faq-item-answer\">\n<p>Ne. Pokud najdete dv\u011b aktiva, kter\u00e1 mezi sebou maj\u00ed silnou korelaci, v\u016fbec nez\u00e1le\u017e\u00ed, z jak\u00e9 t\u0159\u00eddy aktiv poch\u00e1z\u00ed. Tuto strategii m\u016f\u017eete klidn\u011b vyu\u017e\u00edt t\u0159eba na <a href=\"https:\/\/www.etoro.com\/cs-cz\/discover\/markets\/commodities\">komoditu<\/a> a m\u011bnu. Pokud budete dodr\u017eovat z\u00e1kladn\u00ed z\u00e1sady obchodov\u00e1n\u00ed s p\u00e1ry, bude strategie fungovat obdobn\u011b. Jen pozor na to, \u017ee vliv zpr\u00e1v pak m\u016f\u017ee b\u00fdt je\u0161t\u011b zkreslen\u011bj\u0161\u00ed, tak\u017ee doporu\u010dujeme exotick\u00e9 p\u00e1ry vyu\u017e\u00edvat, a\u017e kdy\u017e nasb\u00edr\u00e1te dostatek zku\u0161enost\u00ed.<\/p>\n<\/dd><\/div>\n\n\n\n<div class=\"wp-block-etoro-faq-item\"><dt class=\"wp-block-etoro-faq-item-question\">Mohu pou\u017e\u00edvat strategii p\u00e1rov\u00e9ho obchodov\u00e1n\u00ed u b\u011b\u017en\u00e9ho brokera?<\/dt><dd class=\"wp-block-etoro-faq-item-answer\">\n<p>V podstat\u011b ano. K tomu, abyste mohli obchodovat s p\u00e1ry, v\u00e1m sta\u010d\u00ed, abyste mohli zaujmout kr\u00e1tkou a dlouhou pozici z\u00e1rove\u0148. Pro tento \u00fa\u010del se dob\u0159e hod\u00ed CFD. V dne\u0161n\u00ed dob\u011b ji\u017e v\u011bt\u0161ina online broker\u016f nab\u00edz\u00ed CFD obchodov\u00e1n\u00ed. P\u0159i v\u00fdb\u011bru brokera pro p\u00e1rov\u00e9 obchodov\u00e1n\u00ed zva\u017ete p\u0159edev\u0161\u00edm u\u017eivatelskou p\u0159\u00edv\u011btivost <a href=\"https:\/\/www.etoro.com\/cs-cz\/trading\/platforms\/\">obchodn\u00ed platformy<\/a> a v\u00fd\u0161i poplatk\u016f za CFD.<\/p>\n<\/dd><\/div>\n\n\n\n<div class=\"wp-block-etoro-faq-item\"><dt class=\"wp-block-etoro-faq-item-question\">Pokud dvojice n\u00e1stroj\u016f vykazovala v minulosti korelaci, znamen\u00e1 to, \u017ee bude korelovat i v budoucnu?<\/dt><dd class=\"wp-block-etoro-faq-item-answer\">\n<p>Bohu\u017eel, to nikdo nem\u016f\u017ee zaru\u010dit. Vliv\u016f, kter\u00e9 ovliv\u0148uj\u00ed aktiva, je nep\u0159ebern\u00e9 mno\u017estv\u00ed. Od novinek, kter\u00e9 se t\u00fdkaj\u00ed p\u0159\u00edmo dan\u00e9ho aktiva, p\u0159es zpr\u00e1vy z dan\u00e9ho sektoru, geopolitickou situaci, <a href=\"https:\/\/zpravy.kurzy.cz\/773908-hlavni-makroekonomicke-ukazatele-ceske-republiky-2023\/\" target=\"_blank\" rel=\"noreferrer noopener\">makroekonomick\u00e9 ukazatele<\/a> v r\u016fzn\u00fdch zem\u00edch a\u017e t\u0159eba po po\u010das\u00ed. Korelace se m\u016f\u017ee v \u010dase m\u011bnit a mohou nastat situace, kter\u00e9 se budou vymykat standardu. Proto nikdy neinvestujte v\u00edc, ne\u017e si m\u016f\u017eete dovolit ztratit.<\/p>\n<\/dd><\/div>\n<\/dl>\n\n\n\n\t\t<style>\n\t\t\t.rtl .etoro-block-shortcode-disclaimer {\n\t\t\t\ttext-align:right;\n\t\t\t}\n\t\t\t.etoro-block-shortcode-disclaimer {\n\t\t\t\tmargin-bottom:18px;\n\t\t\t\ttext-align:left;\n\t\t\t}\n\t\t\t.etoro-block-shortcode-disclaimer p{\n\t\t\t\tfont-size: 12px;\n\t\t\t\tline-height: 18px;\n\t\t\t}\n\t\t\t@media (min-width: 768px) {\n\t\t\t\t.etoro-block-shortcode-disclaimer {\n\t\t\t\t\tmax-width:1176px;\n\t\t\t\t\ttext-align:center;\n\t\t\t\t}\n\t\t\t\t.etoro-block-shortcode-disclaimer p {\n\t\t\t\t\tfont-size: 14px;\n\t\t\t\t\tline-height: 20px;\n\t\t\t\t}\n\t\t\t}\n\t\t<\/style>\n\t\t<div class='etoro-block-shortcode-disclaimer'><p>Tyto informace slou\u017e\u00ed pouze pro vzd\u011bl\u00e1vac\u00ed \u00fa\u010dely a nelze je pova\u017eovat za investi\u010dn\u00ed poradenstv\u00ed, osobn\u00ed doporu\u010den\u00ed, nab\u00eddku nebo v\u00fdzvu k n\u00e1kupu \u010di prodeji jak\u00fdchkoli finan\u010dn\u00edch n\u00e1stroj\u016f.<\/p>\n<p>Tento materi\u00e1l byl p\u0159ipraven bez ohledu na konkr\u00e9tn\u00ed investi\u010dn\u00ed c\u00edle nebo finan\u010dn\u00ed situaci a nebyl p\u0159ipraven v souladu s pr\u00e1vn\u00edmi a regula\u010dn\u00edmi po\u017eadavky na podporu nez\u00e1visl\u00e9ho v\u00fdzkumu.<\/p>\n<p><strong>Ne v\u0161echny zmi\u0148ovan\u00e9 finan\u010dn\u00ed n\u00e1stroje a slu\u017eby jsou nab\u00edzeny na eToro<\/strong> a jak\u00e9koli odkazy na minulou v\u00fdkonnost finan\u010dn\u00edho n\u00e1stroje, indexu nebo investi\u010dn\u00edho produktu nejsou a nem\u011bly by b\u00fdt pova\u017eov\u00e1ny za spolehliv\u00fd ukazatel budouc\u00edch v\u00fdsledk\u016f. <strong>Dostupnost v\u0161ech v\u00fd\u0161e uveden\u00fdch produkt\u016f a slu\u017eeb se m\u016f\u017ee li\u0161it v z\u00e1vislosti na jurisdikci a zemi.<\/strong><\/p>\n<p>eToro nezaru\u010duje p\u0159esnost ani \u00faplnost obsahu tohoto pr\u016fvodce a nep\u0159eb\u00edr\u00e1 v tomto ohledu \u017e\u00e1dnou odpov\u011bdnost. P\u0159ed vlo\u017een\u00edm kapit\u00e1lu se ujist\u011bte, \u017ee rozum\u00edte rizik\u016fm spojen\u00fdm s obchodov\u00e1n\u00edm. Nikdy neriskujte v\u00edce, ne\u017e jste p\u0159ipraveni ztratit.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Obchodov\u00e1n\u00ed v p\u00e1rech je strategie zam\u011b\u0159en\u00e1 na vyu\u017eit\u00ed kr\u00e1tkodob\u00fdch cenov\u00fdch nerovnov\u00e1h p\u0159i sou\u010dasn\u00e9m \u0159\u00edzen\u00ed rizika. Tento p\u0159\u00edstup se op\u00edr\u00e1 o anal\u00fdzu korelace mezi aktivy a hled\u00e1n\u00ed p\u0159\u00edle\u017eitost\u00ed k efektivn\u00edmu vstupu do trhu. Finan\u010dn\u00ed trhy se neust\u00e1le pohybuj\u00ed, a\u0165 u\u017e sm\u011brem vzh\u016fru nebo dol\u016f, v kr\u00e1tkodob\u00e9m i dlouhodob\u00e9m horizontu. S t\u00edm souvis\u00ed i riziko spojen\u00e9 s&hellip;<\/p>\n","protected":false},"author":107,"featured_media":1050538,"parent":20057,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"sticky_cta_settings":"","footnotes":""},"asset_type":[],"class_list":["post-660543","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<title>Co je obchodov\u00e1n\u00ed p\u00e1r\u016f? Nau\u010dte se obchodovat s p\u00e1ry | eToro<\/title>\n<meta name=\"description\" content=\"Obchodov\u00e1n\u00ed v p\u00e1rech je strategie, kter\u00e1 se sna\u017e\u00ed generovat zisky a z\u00e1rove\u0148 minimalizovat tr\u017en\u00ed riziko n\u00e1kupem jednoho cenn\u00e9ho pap\u00edru a prodejem jin\u00e9ho.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/pages\/660543\" \/>\n<meta property=\"og:locale\" content=\"cs_CZ\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Co je obchodov\u00e1n\u00ed p\u00e1r\u016f? Nau\u010dte se obchodovat s p\u00e1ry | eToro\" \/>\n<meta property=\"og:description\" content=\"Obchodov\u00e1n\u00ed v p\u00e1rech je strategie, kter\u00e1 se sna\u017e\u00ed generovat zisky a z\u00e1rove\u0148 minimalizovat tr\u017en\u00ed riziko n\u00e1kupem jednoho cenn\u00e9ho pap\u00edru a prodejem jin\u00e9ho.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/pages\/660543\" \/>\n<meta property=\"og:site_name\" content=\"eToro\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/eToro\/\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-30T11:49:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/04\/CZ-How-Pairs-Trading-Works-1200x630-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@eToro\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"11 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.etoro.com\/cs-cz\/trading\/pairs-trading\/\",\"url\":\"https:\/\/www.etoro.com\/cs-cz\/trading\/pairs-trading\/\",\"name\":\"Co je obchodov\u00e1n\u00ed p\u00e1r\u016f? Nau\u010dte se obchodovat s p\u00e1ry | eToro\",\"isPartOf\":{\"@id\":\"https:\/\/www.etoro.com\/cs-cz\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.etoro.com\/cs-cz\/trading\/pairs-trading\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.etoro.com\/cs-cz\/trading\/pairs-trading\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/04\/CZ-How-Pairs-Trading-Works-1200x630-1.png\",\"datePublished\":\"2023-05-10T15:52:32+00:00\",\"dateModified\":\"2025-10-30T11:49:12+00:00\",\"description\":\"Obchodov\u00e1n\u00ed v p\u00e1rech je strategie, kter\u00e1 se sna\u017e\u00ed generovat zisky a z\u00e1rove\u0148 minimalizovat tr\u017en\u00ed riziko n\u00e1kupem jednoho cenn\u00e9ho pap\u00edru a prodejem jin\u00e9ho.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.etoro.com\/cs-cz\/trading\/pairs-trading\/#breadcrumb\"},\"inLanguage\":\"cs\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.etoro.com\/cs-cz\/trading\/pairs-trading\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"cs\",\"@id\":\"https:\/\/www.etoro.com\/cs-cz\/trading\/pairs-trading\/#primaryimage\",\"url\":\"https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/04\/CZ-How-Pairs-Trading-Works-1200x630-1.png\",\"contentUrl\":\"https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/04\/CZ-How-Pairs-Trading-Works-1200x630-1.png\",\"width\":1200,\"height\":630},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.etoro.com\/cs-cz\/trading\/pairs-trading\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Dom\u016f\",\"item\":\"https:\/\/www.etoro.com\/cs-cz\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"OBCHODOV\u00c1N\u00cd\",\"item\":\"https:\/\/www.etoro.com\/cs-cz\/trading\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Jak funguje obchodov\u00e1n\u00ed s p\u00e1ry\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.etoro.com\/cs-cz\/#website\",\"url\":\"https:\/\/www.etoro.com\/cs-cz\/\",\"name\":\"eToro\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.etoro.com\/cs-cz\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.etoro.com\/cs-cz\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"cs\"},[]]}<\/script>","yoast_head_json":{"title":"Co je obchodov\u00e1n\u00ed p\u00e1r\u016f? Nau\u010dte se obchodovat s p\u00e1ry | eToro","description":"Obchodov\u00e1n\u00ed v p\u00e1rech je strategie, kter\u00e1 se sna\u017e\u00ed generovat zisky a z\u00e1rove\u0148 minimalizovat tr\u017en\u00ed riziko n\u00e1kupem jednoho cenn\u00e9ho pap\u00edru a prodejem jin\u00e9ho.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/pages\/660543","og_locale":"cs_CZ","og_type":"article","og_title":"Co je obchodov\u00e1n\u00ed p\u00e1r\u016f? Nau\u010dte se obchodovat s p\u00e1ry | eToro","og_description":"Obchodov\u00e1n\u00ed v p\u00e1rech je strategie, kter\u00e1 se sna\u017e\u00ed generovat zisky a z\u00e1rove\u0148 minimalizovat tr\u017en\u00ed riziko n\u00e1kupem jednoho cenn\u00e9ho pap\u00edru a prodejem jin\u00e9ho.","og_url":"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/pages\/660543","og_site_name":"eToro","article_publisher":"https:\/\/www.facebook.com\/eToro\/","article_modified_time":"2025-10-30T11:49:12+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/04\/CZ-How-Pairs-Trading-Works-1200x630-1.png","type":"image\/png"}],"twitter_card":"summary_large_image","twitter_site":"@eToro","twitter_misc":{"Est. reading time":"11 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.etoro.com\/cs-cz\/trading\/pairs-trading\/","url":"https:\/\/www.etoro.com\/cs-cz\/trading\/pairs-trading\/","name":"Co je obchodov\u00e1n\u00ed p\u00e1r\u016f? Nau\u010dte se obchodovat s p\u00e1ry | eToro","isPartOf":{"@id":"https:\/\/www.etoro.com\/cs-cz\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.etoro.com\/cs-cz\/trading\/pairs-trading\/#primaryimage"},"image":{"@id":"https:\/\/www.etoro.com\/cs-cz\/trading\/pairs-trading\/#primaryimage"},"thumbnailUrl":"https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/04\/CZ-How-Pairs-Trading-Works-1200x630-1.png","datePublished":"2023-05-10T15:52:32+00:00","dateModified":"2025-10-30T11:49:12+00:00","description":"Obchodov\u00e1n\u00ed v p\u00e1rech je strategie, kter\u00e1 se sna\u017e\u00ed generovat zisky a z\u00e1rove\u0148 minimalizovat tr\u017en\u00ed riziko n\u00e1kupem jednoho cenn\u00e9ho pap\u00edru a prodejem jin\u00e9ho.","breadcrumb":{"@id":"https:\/\/www.etoro.com\/cs-cz\/trading\/pairs-trading\/#breadcrumb"},"inLanguage":"cs","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.etoro.com\/cs-cz\/trading\/pairs-trading\/"]}]},{"@type":"ImageObject","inLanguage":"cs","@id":"https:\/\/www.etoro.com\/cs-cz\/trading\/pairs-trading\/#primaryimage","url":"https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/04\/CZ-How-Pairs-Trading-Works-1200x630-1.png","contentUrl":"https:\/\/www.etoro.com\/wp-content\/uploads\/2025\/04\/CZ-How-Pairs-Trading-Works-1200x630-1.png","width":1200,"height":630},{"@type":"BreadcrumbList","@id":"https:\/\/www.etoro.com\/cs-cz\/trading\/pairs-trading\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Dom\u016f","item":"https:\/\/www.etoro.com\/cs-cz\/"},{"@type":"ListItem","position":2,"name":"OBCHODOV\u00c1N\u00cd","item":"https:\/\/www.etoro.com\/cs-cz\/trading\/"},{"@type":"ListItem","position":3,"name":"Jak funguje obchodov\u00e1n\u00ed s p\u00e1ry"}]},{"@type":"WebSite","@id":"https:\/\/www.etoro.com\/cs-cz\/#website","url":"https:\/\/www.etoro.com\/cs-cz\/","name":"eToro","description":"","publisher":{"@id":"https:\/\/www.etoro.com\/cs-cz\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.etoro.com\/cs-cz\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"cs"},[]]}},"_links":{"self":[{"href":"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/pages\/660543"}],"collection":[{"href":"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/users\/107"}],"replies":[{"embeddable":true,"href":"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/comments?post=660543"}],"version-history":[{"count":0,"href":"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/pages\/660543\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/pages\/20057"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/media\/1050538"}],"wp:attachment":[{"href":"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/media?parent=660543"}],"wp:term":[{"taxonomy":"asset_type","embeddable":true,"href":"https:\/\/www.etoro.com\/cs-cz\/wp-json\/wp\/v2\/asset_type?post=660543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}