Background: Since the emergence of Covid-19 has it reaped and created havoc within every segment of society on a national and global scale. The financial market experienced significant declines and losses but some asset items handled the fluctuations better than others. Moreover, since some asset items are associated with different risk levels will various investors with contrasting risk attitude allocate dissimilar proportion of their disposable capital between these alternatives. Especially during low and high levels of economic uncertainty which is related to the volatile market of Covid-19. Although, little to no research has been conducted aimed at understanding how Covid-19 impacted Swedish students asset allocation prior and post the pandemic with different risk profiles.   Purpose: The purpose of this study is to investigate if students with different risk attitudes (risk-preference, risk-neutral and risk-averse) conduct statistically different asset allocation prior and post the Covid-19 pandemic. Furthermore, investigate shifts in asset holdings prior and post the pandemic. Moreover, in order to fill the identified literature gap and add to the current body of knowledge regarding asset allocation and variability concerning risk attitudes since its exclusion of Swedish student’s risk attitudes and impact of Covid-19 on preferable asset items.                                    Method: This investigative study concerns a quantitative survey of 81 different students attending Jönköping University. The survey was structured in a way to uncover whether students with different risk attitudes conduct asset allocation statistically different prior and post the Covid-19 pandemic. Moreover, incorporate sociodemographic factors of students in order to measure its relation to risk attitudes and uncertainty changes. This will be done through non-parametric tests (distribution free) such as the Chi-square, Kruskal-Wallis and Bonferroni adjusted p-value approach. The data is later discussed and interpreted through various academic sources and in the context of the frame of reference (expected utility theory).                              Conclusion: The impact of Covid-19 resulted into increased asset allocation of less risky and “safe” asset in order to deal with the declining stock market and future economic uncertainty. The study also suggest that students liquidated some of their current/fixed deposits and re-invested their disposable capital into a more conservative money management strategy, which was a continuous identified pattern.  Furthermore, the results indicate that students with different risk attitudes conduct significantly different asset allocation concerning commercial insurance, stocks/funds and various bond types prior to Covid-19. However, post the eruption has the statistical identified differences in bonds asset allocation reduced which refers to that the statistical power and dissimilar allocated proportion amongst asset items has diminished. Further multiple comparison reinsures this conclusion. Thusly, the study implies that the differences between asset allocation and student risk profiles are diminished post Covid-19 and therefore students perceived and allocated more similar capital proportions into various asset items. Hence answer the initial stated research question and empirically state that risk attitude of students impact how they conduct asset allocation prior to and to a lesser extent post Covid-19

nÃo hà / Este artigo analisa grÃfica e quantitativamente a performance, mensurada sob vÃrias mÃtricas de risco-retorno, de estratÃgias ativas disponÃveis para um investidor brasileiro que opte por compor carteiras dinÃmicas de aÃÃes transacionadas na Bolsa de Valores de SÃo Paulo. As estratÃgias adotadas se baseiam: (i) em âapostarâ em aÃÃes que se mostraram vencedoras em Sharpe e Treynor no ano anterior, compondo carteiras equal-weighted ou (ii) em definir os pesos a partir da otimizaÃÃo destas duas mÃtricas de performance, as mais usuais no mercado financeiro. Em suma, em perÃodos de boom econÃmico-financeiro, ou seja, atà 2007 e durante 2009, ao lidar com o trade-off entre o uso de tÃcnicas mais sofisticadas de composiÃÃo de carteira, o investidor brasileiro teria obtido um retorno nominal acumulado bastante superior quando do uso da otimizaÃÃo do Ãndice de Sharpe â acima de 4000% entre julho de 1995 e dezembro de 2007, por exemplo â, vis-Ã-visas demais estratÃgias e mesmo quando comparado aos maiores fundos de investimento em aÃÃes ou ainda aos benchmarks de mercado e setoriais, ao quais nÃo ultrapassaram 2500%. Em termos de performance risco-retorno, as estratÃgias de aposta nas vencedoras em Sharpe ou Treynor se mostram as mais adequadas. Em perÃodos de crise financeira, analisando sob todas as mÃtricas de ganho ou performance, o investidor deveria ter optado por uma postura passiva. / This paper analyzes the risk-return performance, graphically and quantitatively - measured under various metrics, of active strategies available for a Brazilian investor who chooses to compose dynamic portfolios with stocks traded in BOVEPSA, Bolsa de Valores de SÃo Paulo. The strategies used here are based on: (i) "betting" in Sharpe and Treynor winners securities the previous year, composing an equalweighted portfolio or (ii) optimizing these two widely used performance metrics, and the defining the weights. To summarize, in periods of economic boom - until 2007 and during 2009 - when dealing with the trade-off between using more sophisticated portfolio composition techniques, the Brazilian investor would have gotten a much higher accumulated nominal return when using the Sharpe index optimization â over 4000% between July 1995 and December 2007, for example â vis-Ã-vis other strategies and even when compared to larger stock mutual funds or to the market and industry benchmarks, which does not exceed 2500%. In terms of risk-return performance, the betting strategies based on Sharpe and Treynor winners are the most appropriate. In periods of financial crisis, observing any performance measure, an investor should have chosen for a passive strategy.