The authors investigate the performance of equity mutual funds from 2003 to 2008. The whole interval is divided into 3-month non overlapping periods. In each of them alpha coefficients of mutual fund characteristic lines have been found. Alphas are basis of the three methods describing relation between past and future performance of mutual funds. The first of them uses regression but the second and third are based on correlation, namely Spearman rank correlation coefficient and contingency table. Presented methods of investigation the persistence in the relative performance of equity mutual funds allows the authors to answer the question about effectiveness of portfolio's managing and the skill of managers. The conclusions refer to whole market of equity mutual funds but not to individual mutual fund.

1. FULLTEXT: The investigation of short term persistence in the relative performance of equity mutual funds operating on polish capital market, Microsoft Office Document, 0.2MB
2. FULLTEXT: The investigation of short term persistence in the relative performance of equity mutual funds operating on polish capital market, Microsoft Office Document, 0.2MB

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