<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>1665-5346</journal-id>
<journal-title><![CDATA[Revista mexicana de economía y finanzas]]></journal-title>
<abbrev-journal-title><![CDATA[Rev. mex. econ. finanz]]></abbrev-journal-title>
<issn>1665-5346</issn>
<publisher>
<publisher-name><![CDATA[Instituto Mexicano de Ejecutivos de Finanzas A.C.]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S1665-53462021000500009</article-id>
<article-id pub-id-type="doi">10.21919/remef.v16i0.583</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[Fuzzy Portfolio Selection with Sugeno Type Fuzzy Neural Network: Investing in the Mexican Stock Market]]></article-title>
<article-title xml:lang="es"><![CDATA[Selección de portafolios difusos con redes neuronales difusas tipo sugeno: invirtiendo en la Bolsa Mexicana de Valores]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Castro Pérez]]></surname>
<given-names><![CDATA[Judith Jazmin]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Medina Reyes]]></surname>
<given-names><![CDATA[José Eduardo]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Tecnológica de México  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Instituto Politécnico Nacional  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>00</month>
<year>2021</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>00</month>
<year>2021</year>
</pub-date>
<volume>16</volume>
<numero>spe</numero>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S1665-53462021000500009&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S1665-53462021000500009&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S1665-53462021000500009&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract The objective of this research is to compare the returns of the portfolios developed by the proposed methodology called Fuzzy Portfolio Selection with Sugeno Type Fuzzy Neural Network against Markowitz&#8217;s portfolio theory; to identify the best investment model. For this purpose, we used ten stock time series of the Mexican market in daily format from January 2, 2015, to May 15, 2020, to get the portfolios every week from May 15 to June 12, 2020. The principal result is that our methodology recognized the behavior of each share, generates better risk management, and higher returns in comparison with the traditional techniques. The recommendation is to evaluate other stocks and markets to verify the efficiency of our model, the limitation is that a fundamental analysis must precede the tool, and the originality is the new technique proposed. The main conclusion is that the portfolio selection model based on fuzzy neural networks generated two models that do not have negative returns in any week, the cumulative return obtained was up to 15.68%.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen El objetivo de esta investigación es comparar los rendimientos de la metodología propuesta denominada como Portafolios Difusos con Redes Neurales Difusas Tipo Sugeno contra la teoría de portafolios de Markowitz; buscando identificar el mejor modelo de inversión. Para ello, se estudian diez acciones del mercado mexicano en formato diario desde el 2 de enero 2015 hasta el 15 de mayo de 2020, con el fin de obtener portafolios de inversión semanales desde el 15 de mayo hasta el 12 de junio de 2020. El principal resultado es que nuestra metodología reconoce el comportamiento de cada acción, genera una mejor gestión del riesgo y proporciona mayor rentabilidad en comparación con las técnicas tradicionales. La recomendación es evaluar otras acciones y mercados para verificar la eficiencia del modelo, la limitación es que un análisis fundamental debe preceder a la herramienta, y la originalidad es la nueva técnica propuesta. La principal conclusión es que el modelo de selección de cartera basado en redes neuronales difusas generó dos portafolios sin rendimientos negativos durante el periodo, la ganancia acumulada obtenida fue de hasta un 15.68%.]]></p></abstract>
<kwd-group>
<kwd lng="en"><![CDATA[Portfolio Theory]]></kwd>
<kwd lng="en"><![CDATA[Fuzzy Theory]]></kwd>
<kwd lng="en"><![CDATA[Fuzzy Neural Network]]></kwd>
<kwd lng="en"><![CDATA[Financial Markets]]></kwd>
<kwd lng="en"><![CDATA[Markowitz&#8217;s Portfolio Theory]]></kwd>
<kwd lng="es"><![CDATA[Teoría de Portafolios]]></kwd>
<kwd lng="es"><![CDATA[Teoría Difusa]]></kwd>
<kwd lng="es"><![CDATA[Red Neuronal Difusa]]></kwd>
<kwd lng="es"><![CDATA[Mercados Financieros]]></kwd>
<kwd lng="es"><![CDATA[Teoría de Portafolios de Markowitz]]></kwd>
</kwd-group>
</article-meta>
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