Comparer des méthodes

	Modèle de risque multifactoriel (Fama-French, APT)	Modèle de volatilité stochastique (Heston)
Domaine	Finance	Finance
Famille	Regression model	Regression model
Année d'origine	1993	1993
Auteur d'origine	Fama & French (factor model); Ross (Arbitrage Pricing Theory)	Steven L. Heston
Type	Multi-factor linear regression model	Continuous-time stochastic volatility model
Source fondatrice	Fama, E. F., & French, K. R. (1993). Common Risk Factors in the Returns on Stocks and Bonds. Journal of Financial Economics, 33(1), 3-56.	Heston, S. L. (1993). A Closed-Form Solution for Options with Stochastic Volatility with Applications to Bond and Currency Options. Review of Financial Studies, 6(2), 327-343.
Alias	Fama-French model, Fama-French three-factor model, Fama-French five-factor model, arbitrage pricing theory	Heston model, SV model, continuous-time stochastic volatility, Stokastik Volatilite Modeli (Heston, SV)
Apparentées	5	5
Résumé	A factor risk model is a multi-factor framework that links asset returns to systematic risk factors such as the market, value, size, and momentum. The Fama-French three- and five-factor models (1993) and Ross's Arbitrage Pricing Theory (1976) decompose portfolio risk and detect alpha.	The stochastic volatility model is a continuous-time option-pricing and risk framework in which volatility follows its own random process rather than staying constant. The Heston model, introduced by Steven Heston in 1993, gives the variance a mean-reverting square-root (CIR) dynamic and yields a closed-form option price; it is the continuous-time counterpart of GARCH.