Research Of Risk And Return Of Artwork Investment

As a kind of investment asset that integrates multiple values such as history,culture,aesthetics and economy,art has become an important option for investors to diversify their risk and stabilize their investment returns.Chinese art market is different from other countries.It has three characteristics: huge investment,strong speculation,high turnover rate,and active innovation in art and finance products.This paper analyzes the development process and present situation of the art market in China,and selects the AAMI(Artron Art Market Index)as the data sample,calculates the index return by constructing the Chinese art index,and then makes a comparative analysis on the related factors.The analysis shows that the changes of the GDP,the M1、M2 and the real estate price are closely related to the art price.The correlation between the art price and the fluctuation of exchange rate is low.The investment of art in the form of asset allocation can better diversify the risk and balance the yield.