Analysis of Style Investing and Evaluating Style Analysis of the Mutual Funds

We try to study prices of assets, because some investors classify risky assets into different styles and move funds between these styles depending on their relative performance. We assume that news about one style can affect the prices of other apparently unrelated style, that assets in the same style commove to much while assets in different styles commove too little and high average returns on a style will be associated with common factors for reason unrelated to risk. In the last part we try to apply these conclusions on Slovak financial market.