{"id":3435,"date":"2025-02-08T13:40:38","date_gmt":"2025-02-08T05:40:38","guid":{"rendered":"https:\/\/ufqi.com\/blog\/?p=3435"},"modified":"2025-02-09T17:06:04","modified_gmt":"2025-02-09T09:06:04","slug":"investment-undervalued-factor-pearson-cc-p2","status":"publish","type":"post","link":"https:\/\/ufqi.com\/blog\/investment-undervalued-factor-pearson-cc-p2\/","title":{"rendered":"\u8bc1\u5238\u6295\u8d44\u88ab\u4f4e\u4f30\u7684\u6280\u672f\u6307\u6807\u2013\u8d44\u4ea7\u76f8\u5173\u6027\u7cfb\u6570 Pearson CC 2\/2"},"content":{"rendered":"\n<blockquote class=\"wp-block-quote\"><p>\u80a1\u7968\u7684\u4ef7\u683c\u7ebf\u4e0e\u6536\u76ca\u7ebf\u7684\u6ce2\u52a8\u662f\u5e76\u9a7e\u9f50\u9a71\u7684\uff0c\u5982\u679c\u80a1\u7968\u4ef7\u683c\u7ebf\u7684\u6ce2\u52a8\u504f\u79bb\u4e86\u6536\u76ca\u7ebf\uff0c\u5b83\u8fdf\u65e9\u8fd8\u4f1a\u56de\u5230\u4e0e\u6536\u76ca\u7ebf\u76f8\u4e00\u81f4\u7684\u8d8b\u52bf\u4e0a\u3002<br \/>&#8212; \u5168\u7403\u8457\u540d\u57fa\u91d1\u6295\u8d44\u7ecf\u7406 Peter Lynch \u5f7c\u5f97\u6797\u5947<\/p><\/blockquote>\n\n\n\n<p>\u5728\u8fd9\u4e2a UfqiBlog \u4e2d\uff0c\u6b64\u524d\u7684\u4e09\u8282\u90fd\u8c08\u5230\u4e86\u8d44\u4ea7\u76f8\u5173\u6027\u7cfb\u6570\uff08Pearson Correlation Coefficient, Pearson CC\uff09\uff1a<br \/>No.39.&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/ufqi.com\/blog\/investment-portfolio-to-market-neutral\/\" target=\"_blank\">\u91d1\u878d\u8bc1\u5238\u4ea4\u6613\u7684\u5e02\u573a\u4e2d\u6027\u98ce\u9669\u5bf9\u51b2\u7684\u6295\u8d44\u7b56\u75655\/5<\/a>\uff0c No.40.<a rel=\"noreferrer noopener\" href=\"https:\/\/ufqi.com\/blog\/trend-by-3-element-and-buy-with-3-factor\/\" target=\"_blank\">\u91d1\u878d\u8bc1\u5238\u6295\u8d44\u8d8b\u52bf\u4e09\u8981\u7d20\u4e0e\u4ea4\u6613\u4e09\u6307\u6807<\/a>\uff0cNo.41.<a rel=\"noreferrer noopener\" href=\"https:\/\/ufqi.com\/blog\/investment-undervalued-factor-pearson-cc\/\" target=\"_blank\">\u8bc1\u5238\u6295\u8d44\u88ab\u4f4e\u4f30\u7684\u6280\u672f\u6307\u6807\u2013\u8d44\u4ea7\u76f8\u5173\u6027\u7cfb\u6570 Pearson CC 1\/2<\/a>. <br \/>\u5c24\u5176\u662f\u5728\u524d\u4e00\u8282\u5199\u5b8c\u4e4b\u540e\uff0c\u6211\u4eec\u53d1\u73b0\u4f7f\u7528\u8d44\u4ea7\u76f8\u5173\u6027\u7cfb\u6570\uff0c\u53ef\u4ee5\u89e3\u91ca\u5f88\u591a\u6295\u8d44\u5c0f\u767d\u751a\u81f3\u7406\u8d22\u9ad8\u624b\u5171\u6709\u7684\u666e\u904d\u6027\u7684\u7591\u95ee\u3002\u9650\u4e8e\u7bc7\u5e45\uff0c\u6211\u4eec\u5728\u6b64\u524d\u4e00\u8282\u89e3\u91ca\u4e86\u4e3a\u4f55\u5927\u591a\u6570\u6295\u8d44\u4eba\u8dd1\u8f93\u5927\u76d8\u6307\u6570\u4ee5\u53ca\u80a1\u795e\u6c83\u4f26\u5df4\u83f2\u7279\u4ef7\u503c\u6295\u8d44\u57fa\u672c\u9762\u5206\u6790\u7684\u6301\u4ed3\u4e2d\uff0c\u65e0\u5f62\u4e2d\u5c06\u8d44\u4ea7\u76f8\u5173\u6027\u7cfb\u6570\u8fd0\u7528\u5f97\u7089\u706b\u7eaf\u9752\u7684\u5730\u6b65\u3002<\/p>\n\n\n\n<p>\u5728\u8fd9\u4e00\u8282\u4e2d\u6211\u4eec\u5ef6\u7eed\u8fd9\u4e2a\u8d44\u4ea7\u76f8\u5173\u6027\u7cfb\u6570\u7684\u8bdd\u9898\uff0c\u8ba8\u8bba\u4f7f\u7528\u5176\u89e3\u91ca\u4e3a\u4f55\u6709\u4e9b\u5927\u76d8\u6307\u6570\uff0c\u6bd4\u5982\u4e2d\u56fd\u7684\u6caa\u6df1300\u548c\u4e0a\u8bc1\u6307\u6570\u957f\u8fbe\u5341\u591a\u5e74\u7684\u6a2a\u76d8\u4e0d\u6da8\uff1f\u53c8\u6bd4\u5982\u5728\u8fd9\u5341\u5e74\u6a2a\u76d8\u4e0d\u6da8\u7684\u5927\u76d8\u6307\u6570\u540c\u671f\uff0c\u53c8\u6709\u4e2d\u56fd\u80a1\u5e02\u7ea2\u5229\u4f4e\u6ce2\u6307\u6570\u7684\u5e74\u5e74\u6b63\u6536\u76ca\uff0c\u8fd9\u53c8\u662f\u4e3a\u4f55\uff1f<br \/>\u8fd9\u662f\u7814\u8bfb\u7ecf\u6d4e\u5b66\u8457\u4f5c\u7684\u7b2c\u56db\u5341\u4e8c\u7bc7\u4e60\u4f5c\uff0c\u4e4b\u524d\u7684\u56db\u5341\u4e00\u7bc7\u5404\u7ae0\u8282\u5185\u5bb9\uff0c\u8bf7\u53c2\u8003\u6587\u672b\u7684\u94fe\u63a5\u3002<\/p>\n\n\n\n<p><strong>A1.  \u4e2d\u56fd\u7684<\/strong><strong>\u4e0a\u8bc1\u6307\u6570<\/strong>\u548c<strong>\u6caa\u6df1300<\/strong>\u957f\u8fbe\u5341\u591a\u5e74\u7684\u6a2a\u76d8\u4e0d\u6da8? <\/p>\n\n\n\n<p>\u4e2d\u56fd\u80a1\u5e02\u7d20\u6765\u6709\u201c3000\u70b9\u4fdd\u536b\u6218\u201c\uff0c\u800c\u4e14\u6301\u7eed\u8fbe\u5341\u6570\u5e74\u4e4b\u4e45\u3002\u8fd9\u662f\u4ee4\u4eba\u53ef\u60dc\uff0c\u6bd5\u7adf\u4f5c\u4e3a\u4e2a\u4f53\u4eba\uff0c\u77ed\u6682\u7684\u4e00\u751f\uff0c\u6ca1\u6709\u51e0\u4e2a\u5341\u5e74\u53ef\u4ee5\u88f9\u8db3\u4e0d\u524d\u5730\u5e73\u7a33\u5ea6\u8fc7\uff0c\u5b9e\u9645\u4e0a\u90fd\u662f\u9006\u6c34\u884c\u821f\u4e0d\u8fdb\u5219\u9000\u7684\u594b\u529b\u62fc\u640f\u3002\u53ef\u662f\u4e2d\u56fd\u80a1\u5e02\u5374\u51e0\u4e4e\u957f\u8fbe20\u5e74\u7684\u6a2a\u76d8\u4e0d\u6da8\u3002\u6bd4\u5982\u4e0b\u56fe\u6240\u793a\uff0c<strong>2025\u5e742\u67087\u65e5\u6536\u76d8\u4e0a\u8bc13303\u70b9\uff0c\u8fd9\u4e2a\u4ef7\u683c\u70b9\u4f4d\u4e0a\u4e00\u6b21\u662f2007\u5e744\u6708\u7684\u70b9\u6570\uff0c\u4e5f\u5c31\u662f\u8bf4\uff0c\u8fc7\u53bb\u957f\u8fbe\u5341\u516b\u5e74\u4e4b\u4e45\uff0c\u4e0a\u8bc1\u6307\u6570\u57283000\u70b9\u539f\u5730\u8e0f\u6b65<\/strong>\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/ufqi.com\/blog\/wp-content\/uploads\/2025\/02\/china-sh-stock-20yrs.jpg\"><img loading=\"lazy\" width=\"1024\" height=\"778\" src=\"https:\/\/ufqi.com\/blog\/wp-content\/uploads\/2025\/02\/china-sh-stock-20yrs-1024x778.jpg\" alt=\"\" class=\"wp-image-3441\" srcset=\"https:\/\/ufqi.com\/blog\/wp-content\/uploads\/2025\/02\/china-sh-stock-20yrs-1024x778.jpg 1024w, https:\/\/ufqi.com\/blog\/wp-content\/uploads\/2025\/02\/china-sh-stock-20yrs-300x228.jpg 300w, https:\/\/ufqi.com\/blog\/wp-content\/uploads\/2025\/02\/china-sh-stock-20yrs-768x583.jpg 768w, https:\/\/ufqi.com\/blog\/wp-content\/uploads\/2025\/02\/china-sh-stock-20yrs.jpg 1160w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption>Fig02. \u4e2d\u56fd\u4e0a\u8bc1\u6307\u6570\u6708K\u7ebf\u56fe2004-2024<\/figcaption><\/figure>\n\n\n\n<p>\u89e3\u91ca\u4e0a\u8bc1\u6307\u6570\u5341\u591a\u5e743000\u70b9\u7684\u539f\u56e0\u5728\u7f51\u7edc\u4e0a\u6709\u5f88\u591a\u79cd\uff0c\u5404\u8bf4\u5404\u6709\u9053\u7406\u3002\u73b0\u5728\u6211\u4eec\u5c1d\u8bd5\u7528\u8d44\u4ea7\u76f8\u5173\u6027\u7cfb\u6570 Pearson CC\u6765\u89e3\u91ca\uff0c\u4f3c\u4e4e\u66f4\u52a0\u7b80\u6d01\u660e\u4e86\u3002\u5982\u4e4b\u524d\u7528\u5230\u7684\u63cf\u8ff0\u8d44\u4ea7\u4e4b\u95f4\u76f8\u5173\u6027\u7cfb\u6570\u7684\u56fe\u793a\uff0c\u5982\u679c\u4e0a\u8bc1\u6307\u6570\u6240\u6db5\u76d6\u7684\u5404\u4e2a\u8d44\u4ea7\u4e4b\u95f4\u7684\u7cfb\u6570\u5f3a\u8d1f\u76f8\u5173\uff0c\u5219\u521a\u597d\u7b26\u5408\u9884\u671f\u4e2d\u7684\u56fe\u793a\uff08 Negative, Pearson CC \u6570\u503c\u4e3a -0.8 \uff09\uff0c\u8d44\u4ea7\u7ec4\u5408\u4e2d\u6709\u6da8\u6709\u8dcc\uff0c\u6da8\u8dcc\u4e92\u76f8\u62b5\u6d88\uff0c\u4e8e\u662f\u5c31\u6709\u4e86\u957f\u8fbe\u5341\u516b\u5e74\u4e4b\u4e45\u7684\u6a2a\u76d8\u9707\u8361\u7684\u60c5\u51b5\u53d1\u751f\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img src=\"https:\/\/ufqi.com\/news\/view\/ueditor\/php\/upload\/image\/202502\/031738549046113144.png\" alt=\"\" \/><figcaption>Fig03. Pearson Correlation Coefficient \u76f8\u5173\u6027\u7cfb\u6570<br \/>Strong Positive \u5f3a\u6b63\u76f8\u5173\uff0c None \u4e0d\u76f8\u5173\uff0c Strong Negative \u5f3a\u8d1f\u76f8\u5173.<\/figcaption><\/figure>\n\n\n\n<p>\u5047\u5982\u7b80\u5316\u4e0a\u8bc1\u6307\u6570\u7684\u8d44\u4ea7\u7ec4\u5408\u91cc\uff0c\u53ea\u6709\u4e24\u652f\u6807\u7684\uff0c\u5219\u4e0a\u56fe\u7b2c\u4e09\u5e27\uff08 Negative \uff09\u5c31\u5b8c\u6574\u5730\u5448\u73b0\u4e86\u6570\u5341\u5e74\u4e00\u76f4\u6a2a\u76d8\u9707\u8361\u4e0b\u53bb\u7684\u60c5\u5f62\u3002<br \/>\u7a76\u5176\u80cc\u540e\uff0c\u53ef\u80fd\u662f\u4ee3\u8868\u4e2d\u56fd\u7ecf\u6d4e\u8fd9\u4e9b\u4e0a\u5e02\u516c\u53f8\uff0c\u6bcf\u5e74\u6216\u8005\u6bcf\u4e2a\u9636\u6bb5\uff0c\u90fd\u6709\u516c\u53f8\u662f\u6b63\u6536\u76ca\uff0c\u540c\u65f6\u4e5f\u6709\u516c\u53f8\u662f\u4e8f\u635f\uff0c\u800c\u4e14\u662f\u5f7c\u6b64\u8f6e\u52a8\u7684\uff0cA\u516c\u53f8\u53bb\u5e74\u76c8\u5229\u4eca\u5e74\u4e8f\u635f\uff0cB\u516c\u53f8\u53bb\u5e74\u4e8f\u635f\u4eca\u5e74\u76c8\u5229\uff0c\u800c\u4e14\u76c8\u5229\u7684\u548c\u4e8f\u635f\u7684\u5e45\u5ea6\u53c8\u5927\u4f53\u76f8\u5f53\uff0cA\/B\u516c\u53f8\u7ec4\u6210\u7684\u6295\u8d44\u7ec4\u5408\u5c31\u662f\u4e0d\u8d5a\u4e0d\u8d54\u3001\u4e0d\u75bc\u4e0d\u75d2\u3001\u6a2a\u76d8\u9707\u8361\u3002<br \/>\u5373\u4fbf\u662f\u6295\u8d44\u5c0f\u767d\u90fd\u77e5\u9053\uff0cCPI\u6bcf\u5e74\u90fd\u5728\u4e0a\u6da8\uff0cM2\u589e\u901f\u5927\u5e45\u8d85\u8fc7GDP\u589e\u901f\uff0c\u8d27\u5e01\u8d2c\u503c\u5982\u5f71\u968f\u5f62\u4e14\u6709\u6108\u6f14\u6108\u70c8\u4e4b\u52bf\uff0c\u6a2a\u76d8\u9707\u8361\u4e0d\u6da8\uff0c\u6295\u8d44\u4eba\u7684\u8d22\u5bcc\u5373\u4fbf\u7ef4\u63010.1% \u7684\u6536\u76ca\u7387\uff0c\u53ea\u8981\u6ca1\u6709\u8dd1\u8d62CPI\u90fd\u662f\u8f93\uff0c\u5373\u4fbf\u662f\u8dd1\u8d62\u4e86CPI\u6ca1\u6709\u8dd1\u8d62\u65e0\u98ce\u9669\u56fd\u503a\u6536\u76ca\uff0c\u4e5f\u8fd8\u662f\u8f93\uff0c\u5c31\u662f\u778e\u6298\u817e\u3002<\/p>\n\n\n\n<p>\u6ca1\u6709\u5bf9\u6bd4\u5c31\u6ca1\u6709\u4f24\u5bb3\uff0c\u770b\u770b\u5bf9\u6bd4\u5929\u58e4\u4e4b\u522b\uff012007\u5e74\u52302025\u5e74\uff0c\u5341\u516b\u5e74\u95f4\u4e0a\u8bc1\u6307\u65703000\u70b9\u539f\u5730\u8e0f\u6b65\uff0c\u800c\u540c\u671f\u7f8e\u56fd\u6807\u666e500\u6307\u6570\u4ece2007\u5e744\u6708\u76841482\u70b9\u4e0a\u6da8\u52302025\u5e742\u67087\u65e5\u76846025\u70b9\u3002<br \/><strong>\u4e0a\u8bc1\u6307\u6570\u96f6\u70b9\u96f6\u7684\u589e\u957f\uff080%\uff09\u5bf9\u6bd4\u540c\u671f\u7f8e\u56fd\u6807\u666e500\u6307\u6570\u76843\u500d\u7684\u589e\u957f\uff08300%\uff09\u3002<\/strong><\/p>\n\n\n\n<p><strong>B2.  \u4e2d\u56fd\u80a1\u5e02\u7ea2\u5229\u4f4e\u6ce2\u6307\u6570\u7684\u4e3a\u4f55\u80fd\u505a\u5230\u5e74\u5e74\u6b63\u6536\u76ca? <\/strong><\/p>\n\n\n\n<p>\u7531\u6b64\u524d\u4e00\u8282A1\u7684\u8ba8\u8bba\uff0c\u6211\u4eec\u80fd\u591f\u5f97\u51fa\u7ed3\u8bba\uff0c<strong>\u5982\u679c\u4e00\u4e2a\u6295\u8d44\u7ec4\u5408\u8981\u83b7\u5f97\u6b63\u6536\u76ca\uff0c\u4e5f\u5373\u56fe\u4e2d\u7684\u6df1\u7eff\u8272\u66f2\u7ebf\u8981\u5728\u9707\u8361\u4e2d\u4e0d\u65ad\u4e0a\u626c\uff08\u4e0a\u6da8\uff09\uff0c\u90a3\u4e48\u5c31\u9700\u8981\u8d44\u4ea7\u7ec4\u5408\u4e2d\u7684\u5404\u4e2a\u8d44\u4ea7\u4e4b\u95f4\u7684\u76f8\u5173\u6027\u7cfb\u6570\u4e0d\u80fd\u662f\u5f3a\u8d1f\u76f8\u5173<\/strong>\u3002\u4fdd\u6301\u6295\u8d44\u7ec4\u5408\u4e2d\u7684\u5404\u4e2a\u8d44\u4ea7\u81ea\u5df1\u7684\u76f8\u5173\u6027\u7cfb\u6570\u662f\u4e0d\u76f8\u5173\u3001\u5f31\u76f8\u5173\u6216\u8005\u5f3a\u6b63\u76f8\u5173\uff0c\u624d\u6709\u53ef\u80fd\u4f7f\u5f97\u6295\u8d44\u7ec4\u5408\u7684\u6574\u4f53\u6536\u76ca\u968f\u7740\u65f6\u95f4\u7684\u63a8\u79fb\u4e0d\u65ad\u4e0a\u6da8\uff0c\u4e0a\u56feFig03.\u4e2d\uff0c\u6709\u4e24\u6761\u6df1\u7eff\u8272\u66f2\u7ebf\u4e0a\u626c\u7684\u60c5\u51b5\uff0cPearson CC \u6570\u503c\u5206\u522b\u662f 0.8, Positive, \u5f3a\u6b63\u76f8\u5173, 0.0 Non-Correlation, \u4e0d\u76f8\u5173\uff0c\u6216\u8005\u5f31\u76f8\u5173\uff08 -0.3 ~ 0.3 \uff09\u3002<\/p>\n\n\n\n<p>\u5982\u679c\u5404\u4e2a\u8d44\u4ea7\u76f8\u5173\u6027\u7cfb\u6570\u662f\u5f3a\u8d1f\u76f8\u5173\uff0c\u5927\u81f4\u6709\u4e09\u79cd\u60c5\u51b5\uff1a\u6da8\u8dcc\u76f8\u7b49\uff0c\u6da8\u591a\u8dcc\u5c11\uff0c\u6da8\u5c11\u8dcc\u591a\u3002\u4e09\u79cd\u60c5\u51b5\uff0c\u53ea\u6709\u5728\u6da8\u591a\u8dcc\u5c11\u7684\u4e00\u79cd\u60c5\u51b5\uff081\/3\uff0c 33%\u6982\u7387\uff09\u624d\u80fd\u83b7\u5f97\u6b63\u6536\u76ca\u3002\u8fd9\u53ef\u80fd\u4e5f\u662f\u4e0a\u8bc1\u6307\u65703000\u70b9\u4fdd\u536b\u6218\u60e8\u70c8\u7684\u80cc\u540e\u771f\u5b9e\u60c5\u51b5\u3002<\/p>\n\n\n\n<p>\u76f8\u5e94\u5730\uff0c\u5982\u679c\u5254\u9664\u4e86\u6295\u8d44\u7ec4\u5408\u4e2d\u7684\u5f3a\u8d1f\u76f8\u5173\u7684\u8d44\u4ea7\uff0c\u4fdd\u7559\u4e0d\u76f8\u5173\u3001\u5f31\u76f8\u5173\u6216\u8005\u5f3a\u6b63\u76f8\u5173\u7684\u8d44\u4ea7\uff0c\u5219\u53ef\u80fd\u83b7\u5f97\u4e0d\u9519\u7684\u6536\u76ca\u3002\u4e8b\u5b9e\u6570\u636e\u8868\u660e\uff0c\u8fd9\u662f\u4e00\u6761\u4e0d\u9519\u7684\u6210\u529f\u6295\u8d44\u7b56\u7565\u3002<br \/>\u5373\u4fbf\u662f\u5728\u4e2d\u56fd\u80a1\u5e02\u8fd9\u79cd\u8270\u96be\u7684\u6076\u52a3\u7684\u6295\u8d44\u73af\u5883\u4e0b\uff0c\u4e0a\u8bc1\u6307\u6570\u957f\u8fbe\u5341\u516b\u5e74\u539f\u5730\u8e0f\u6b65\u7684\u60c5\u51b5\u4e0b\uff0c\u8fd8\u662f\u6709\u8d44\u4ea7\u7ec4\u5408\u53d6\u5f97\u4e86\u76f8\u5f53\u4e0d\u9519\u7684\u6536\u76ca\uff0c\u5982Fig01.\u6240\u793a\uff0c\u4e2d\u56fd\u80a1\u5e02\u4e2d\u7684\u7ea2\u5229\u4f4e\u6ce2\u6307\u6570\uff0c\u5728\u8fc7\u53bb\u4e94\u5e74\u91cc\uff0c\u5e74\u5e74\u83b7\u5f97\u6b63\u6536\u76ca\uff0c\u6700\u8fd1\u4e09\u5e74\u7684\u5e74\u5316\u6536\u76ca\u7387\u4e3a9%\u3002\u8fd9\u4e2a\u6536\u76ca\u7387\u5927\u5e45\u8dd1\u8d62\u4e0a\u8bc1\u6307\u6570\u3001\u8dd1\u8d62\u65e0\u98ce\u9669\u56fd\u503a\u6536\u76ca\u3001\u8dd1\u8d62\u5927\u591a\u6570\u6295\u8d44\u7ecf\u7406\u3001\u8dd1\u8d62\u7edd\u5927\u591a\u6570\u6295\u8d44\u4eba\uff08\u6563\u6237\uff09\u3002\u751a\u81f3\u53ef\u4ee5\u5ab2\u7f8e\u7f8e\u56fd\u7684\u6807\u666e500\u6307\u6570\u6536\u76ca\uff0c\u53ef\u4ee5\u79f0\u4e4b\u4e3a\u4e2d\u56fd\u7248\u7684\u6807\u666e500.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/ufqi.com\/blog\/wp-content\/uploads\/2025\/02\/china-bonus-100.jpg\"><img loading=\"lazy\" width=\"1024\" height=\"800\" src=\"https:\/\/ufqi.com\/blog\/wp-content\/uploads\/2025\/02\/china-bonus-100-1024x800.jpg\" alt=\"\" class=\"wp-image-3439\" srcset=\"https:\/\/ufqi.com\/blog\/wp-content\/uploads\/2025\/02\/china-bonus-100-1024x800.jpg 1024w, https:\/\/ufqi.com\/blog\/wp-content\/uploads\/2025\/02\/china-bonus-100-300x234.jpg 300w, https:\/\/ufqi.com\/blog\/wp-content\/uploads\/2025\/02\/china-bonus-100-768x600.jpg 768w, https:\/\/ufqi.com\/blog\/wp-content\/uploads\/2025\/02\/china-bonus-100.jpg 1165w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption>Fig01. \u4e2d\u56fd\u80a1\u7968\u7ea2\u5229\u4f4e\u6ce2100\u6307\u6570\u5468K\u7ebf\u56fe, <a rel=\"noreferrer noopener\" href=\"https:\/\/ufqi.com\/index.jsp?mod=financefund&amp;act=fundChart&amp;icode=512890&amp;dataTimeType=weekly&amp;predictType=1&amp;tit=\u534e\u6cf0\u67cf\u745e\u4e2d\u8bc1\u7ea2\u5229\u4f4e\u6ce2ETF-512890\" target=\"_blank\">UfqiFina \u6709\u798f\u91d1\u878d<\/a><\/figcaption><\/figure>\n\n\n\n<p>\u4e5f\u8bb8\u8d44\u4ea7\u76f8\u5173\u6027\u7cfb\u6570\u53ea\u662f\u8868\u8c61\uff0c\u7a76\u5176\u80cc\u540e\u7684\u56e0\u7d20\uff0c\u53ef\u80fd\u7ea2\u5229\u4f4e\u6ce2\u7684\u8d44\u4ea7\u90fd\u662f\u4e2a\u4e2a\u80fd\u76c8\u5229\u3001\u671f\u671f\u80fd\u589e\u957f\u7684\u4f18\u8d28\u6807\u7684\u80a1\u7968\uff0c\u4e0d\u7ba1\u4ed6\u4eec\u4e4b\u95f4\u662f\u5f3a\u6b63\u76f8\u5173\uff0c\u8fd8\u662f\u4e0d\u76f8\u5173\u6216\u8005\u5f31\u76f8\u5173\uff0c\u7531\u4e8e\u540c\u65f6\u5904\u4e8e\u4e0a\u5347\u8d8b\u52bf\uff0c\u6709\u7684\u53ea\u662f\u4e0a\u6da8\u5e45\u5ea6\u548c\u5468\u671f\u7684\u4e0d\u540c\uff0c\u81ea\u7136\u4e0d\u4f1a\u6709\u5f3a\u8d1f\u76f8\u5173\u7684\u6807\u7684\u3002<br \/>\u7531\u6b64\uff0c\u6211\u4eec\u53ef\u4ee5\u56de\u987e\u4e0a\u4e00\u8282<a href=\"https:\/\/ufqi.com\/blog\/investment-undervalued-factor-pearson-cc\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u80a1\u795e\u6c83\u4f26\u5df4\u83f2\u7279\u5148\u751f\u7684\u6301\u4ed3 Top 8<\/a> \u4e2d\uff0c\u5404\u4e2a\u8d44\u4ea7\u4e4b\u95f4\uff0c\u5176\u8d44\u4ea7\u76f8\u5173\u6027\u7cfb\u6570\u5927\u591a\u6570\u662f\u4e0d\u76f8\u5173\uff0c\u6216\u8005\u5f31\u76f8\u5173\uff0c\u4e2a\u522b\u662f\u5f3a\u6b63\u76f8\u5173\uff0c\u6ca1\u6709\u4e00\u4e2a\u662f\u5f3a\u8d1f\u76f8\u5173\uff01<\/p>\n\n\n\n<p><strong>C3. \u6536\u76ca\uff0c\u6536\u76ca\uff0c\u8fd8\u662f\u6536\u76ca<\/strong><\/p>\n\n\n\n<p>\u201c\u6536\u76ca\uff0c\u6536\u76ca\uff0c\u8fd8\u662f\u6536\u76ca\uff08Earnings, Earnings, Earnings\uff09\u201d \u662f\u5168\u7403\u8457\u540d\u6295\u8d44\u57fa\u91d1 Fidelity<br \/>Magellan Fund \u7684\u57fa\u91d1\u7ecf\u7406 Peter Lynch \u5f7c\u5f97\u6797\u5947\u5728\u5176\u8457\u4f5c\u300a<a rel=\"noreferrer noopener\" href=\"https:\/\/ufqi.com\/news\/ulongpage.12374.html?tit\" target=\"_blank\">\u5f7c\u5f97\u6797\u5947\u7684\u6210\u529f\u6295\u8d44-Peter Lynch: One Up on Wall Street\u300b\u4e2d\u7684\u4e00\u4e2a\u7ae0\u8282\u540d\u79f0\uff08\u7b2c\u5341\u7ae0<\/a>\uff09\u3002\u5f7c\u5f97\u6797\u5947\u662f\u88ab\u89c6\u4f5c\u7ee7\u6c83\u4f26\u5df4\u83f2\u7279\u4e4b\u540e\u53c8\u4e00\u4f4d\u4ee5\u4ef7\u503c\u6295\u8d44\u57fa\u672c\u9762\u5206\u6790\u800c\u8457\u79f0\u7684\u6295\u8d44\u5927\u5e08\u3002<\/p>\n\n\n\n<p>\u5728\u6797\u5947\u5148\u751f\u770b\u6765\uff0c\u80a1\u4ef7\u7684\u4e0a\u4e0b\u53d8\u52a8\u59cb\u7ec8\u56f4\u7ed5\u5728\u516c\u53f8\u7684\u6536\u76ca\u3002\u6b63\u5982\u62bc\u9898\u7684\u5f15\u7528\u4e00\u6837\uff0c \u201c\u80a1\u7968\u7684\u4ef7\u683c\u7ebf\u4e0e\u6536\u76ca\u7ebf\u7684\u6ce2\u52a8\u662f\u5e76\u9a7e\u9f50\u9a71\u7684\uff0c\u5982\u679c\u80a1\u7968\u4ef7\u683c\u7ebf\u7684\u6ce2\u52a8\u504f\u79bb\u4e86\u6536\u76ca\u7ebf\uff0c\u5b83\u8fdf\u65e9\u8fd8\u4f1a\u56de\u5230\u4e0e\u6536\u76ca\u7ebf\u76f8\u4e00\u81f4\u7684\u8d8b\u52bf\u4e0a\u3002\u201d<\/p>\n\n\n\n<p>\u5982\u679c\u6211\u4eec\u9009\u62e9\u4e86\u8fd9\u6837\u7684\u6807\u7684\u2014\u2014\u6807\u7684\u516c\u53f8\u6bcf\u5e74\u90fd\u6709\u6b63\u6536\u76ca\u2014\u2014\u5219\u5176\u80a1\u4ef7\u4e00\u5b9a\u4f1a\u968f\u7740\u6536\u76ca\u7684\u589e\u957f\u800c\u589e\u957f\uff0c\u4e8c\u7ea7\u5e02\u573a\u7684\u6295\u8d44\u4eba\u6216\u8005\u53d7\u76ca\u4e8e\u80a1\u4ef7\u4e0a\u6da8\u3001\u6216\u8005\u53d7\u76ca\u4e8e\u5206\u7ea2\uff0c\u66f4\u6216\u8005\u4e8c\u8005\u517c\u800c\u6709\u4e4b\uff0c\u4e00\u5b9a\u4f1a\u6709\u4e0d\u83f2\u7684\u6536\u76ca\u3002\u4e5f\u5c31\u662f\u8bf4\uff0c\u516c\u53f8\u7684\u57fa\u672c\u8fd0\u8425\u60c5\u51b5\uff0c\u76c8\u5229\u3001\u83b7\u5f97\u6536\u76ca\u662f\u6240\u6709\u80a1\u4ef7\u4e0a\u4e0b\u6ce2\u52a8\u8868\u8c61\u4e0b\u6700\u57fa\u672c\u7684\u9a71\u52a8\u529b\u2014\u2014\u65e0\u8bba\u662f\u4e0a\u6da8\u8fd8\u662f\u4e0b\u8dcc\u3002 <\/p>\n\n\n\n<p>\u56de\u5230\u672c\u9898\uff0c\u4e0a\u8bc1\u6307\u6570\u5341\u516b\u5e74\u6765\u57283000\u70b9\u539f\u5730\u8e0f\u6b65\u6a2a\u76d8\u4e0d\u6da8\uff0c\u5c31\u662f\u56e0\u4e3a\u6807\u7684\u7269\u516c\u53f8\u6ca1\u6709\u83b7\u5f97\u6536\u76ca\uff0c\u6216\u8005\u5176\u4e2d\u4e24\u4e2a\u9636\u6bb5\u4e00\u6da8\u4e00\u8dcc\u4e92\u76f8\u62b5\u6d88\u6301\u5e73\u3002\u5982\u679c\u4ece\u4ef7\u503c\u6295\u8d44\u57fa\u672c\u9762\u5206\u6790\u6765\u770b\uff0c\u591a\u6570\u516c\u53f8\u53ef\u80fd\u662f\u56fd\u6709\u5927\u4e2d\u578b\u516c\u53f8\uff0c\u672c\u8eab\u5c31\u662f\u534a\u884c\u653f\u6027\u8d28\u7684\u5e02\u573a\u4e3b\u4f53\uff0c\u76c8\u5229\u4e0d\u662f\u4e3b\u8981\u4efb\u52a1\uff0c\u653f\u6cbb\u6b63\u786e\u6c38\u8fdc\u662f\u7b2c\u4e00\u4f4d\u7684\u3002\u4f59\u4e0b\u7684\u6c11\u8425\u4f01\u4e1a\u5219\u662f\u5728\u56fd\u4f01\u5939\u7f1d\u4e2d\u6c42\u751f\u5b58\uff0c\u4e00\u5e74\u83b7\u5229\u4e00\u5e74\u4e8f\u635f\uff0c\u80fd\u591f\u575a\u5f3a\u6d3b\u4e0b\u53bb\u5df2\u7ecf\u96be\u5f97\uff0c\u8fde\u5e74\u7ed3\u4f59\u4e00\u5b9a\u8981\u6709\u653f\u6cbb\u8054\u59fb\u505a\u540e\u53f0\u624d\u6709\u53ef\u80fd\u3002\u8fd9\u5c31\u80fd\u591f\u89e3\u91ca\u4e0a\u8bc1\u6307\u6570\u6216\u8005\u6caa\u6df1300\u7684\u79cd\u79cd\u8868\u73b0\u4e86\u3002<\/p>\n\n\n\n<p>\u767e\u91cc\u6311\u4e8c\uff0c\u6709\u4e9b\u516c\u53f8\u8fe5\u4e4e\u5f02\u5e38\uff0c\u5168\u5e02\u573a\u4e94\u5343\u80a1\u7968\u9074\u9009\u51fa100\u652f\uff0c\u67d0\u671f\u786e\u5b9e\u80fd\u591f\u5b9e\u73b0\u9010\u5e74\u76c8\u5229\uff0c\u4e0d\u7ba1\u662f\u5426\u5206\u7ea2\u5230\u4e8c\u7ea7\u5e02\u573a\uff0c\u786e\u5207\u7684\u76c8\u5229\u80fd\u529b\u662f\u6709\u7684\uff0c\u7531\u6b64\u8fdb\u5165\u4e2d\u56fd\u80a1\u5e02\u7ea2\u5229\u4f4e\u6ce2\u6307\u6570\u7684\u89c6\u91ce\uff0c\u4ece\u800c\u5f62\u6210\u4e86\u5728\u4e07\u9a6c\u9f50\u5591\u7684\u6076\u52a3\u5e02\u573a\u4e2d\u7684\u5947\u8469\u4e00\u6735\u3002\u5176\u52a8\u6001\u66f4\u65b0\u4e5f\u662f\u7279\u8272\u6216\u8005\u83b7\u5229\u7684\u4fdd\u8bc1\u4e4b\u4e00\u3002<br \/>\u4ec0\u4e48\u65f6\u5019\u4e2d\u56fd\u80a1\u5e02\u80fd\u591f\u5c06\u5206\u7ea2\u5236\u5ea6\u6539\u6210\u4e0e\u7f8e\u56fd\u4e00\u6837\uff0c\u90a3\u4e48\u4e2d\u56fd\u7248\u7684\u6807\u666e500\u5c31\u53ef\u4ee5\u6b63\u5f0f\u540d\u526f\u5176\u5b9e\u5730\u6807\u79f0\u4e2d\u56fd\u7684\u7ea2\u5229\u4f4e\u6ce2100\uff0c\u54cd\u5f53\u5f53\u7684.<\/p>\n\n\n\n<p>\u8fd9\u662f\u7814\u8bfb\u7ecf\u6d4e\u5b66\u8457\u4f5c\u7684\u7b2c\u56db\u5341\u4e8c\u7bc7\u4e60\u4f5c\uff0c\u4e4b\u524d\u7684\u5404\u7bc7\u9644\u5217\u5982\u4e0b\uff0c\u6700\u8fd1\u7684\u9644\u5217\u5728\u524d\u3002<\/p>\n\n\n\n<ol><li><a rel=\"noreferrer noopener\" href=\"https:\/\/ufqi.com\/blog\/investment-undervalued-factor-pearson-cc\/\" target=\"_blank\">\u8bc1\u5238\u6295\u8d44\u88ab\u4f4e\u4f30\u7684\u6280\u672f\u6307\u6807\u2013\u8d44\u4ea7\u76f8\u5173\u6027\u7cfb\u6570 Pearson CC 1\/2<\/a>\uff0chttps:\/\/ufqi.com\/blog\/investment-undervalued-factor-pearson-cc\/<\/li><li><a rel=\"noreferrer noopener\" href=\"https:\/\/ufqi.com\/blog\/trend-by-3-element-and-buy-with-3-factor\/\" target=\"_blank\">\u91d1\u878d\u8bc1\u5238\u6295\u8d44\u8d8b\u52bf\u4e09\u8981\u7d20\u4e0e\u4ea4\u6613\u4e09\u6307<\/a>\u6807\uff0c https:\/\/ufqi.com\/blog\/trend-by-3-element-and-buy-with-3-factor\/<\/li><li><a rel=\"noreferrer noopener\" href=\"https:\/\/ufqi.com\/blog\/investment-portfolio-to-market-neutral\/\" target=\"_blank\">\u91d1\u878d\u8bc1\u5238\u4ea4\u6613\u7684\u5e02\u573a\u4e2d\u6027\u98ce\u9669\u5bf9\u51b2\u7684\u6295\u8d44\u7b56\u75655\/5<\/a>\uff0c https:\/\/ufqi.com\/blog\/investment-portfolio-to-market-neutral\/<\/li><li><a rel=\"noreferrer noopener\" href=\"https:\/\/ufqi.com\/blog\/investment-by-5w1h\/\" target=\"_blank\">\u7528 5W1H \u65b9\u6cd5\u601d\u8003\u8bc1\u5238\u6295\u8d44\u4e0e\u8d44\u4ea7\u7ba1\u7406<\/a>\uff0c https:\/\/ufqi.com\/blog\/investment-by-5w1h\/<\/li><li><a rel=\"noreferrer noopener\" href=\"https:\/\/ufqi.com\/blog\/kelly-bet-with-security\/\" target=\"_blank\">\u8bc1\u5238\u5e02\u573a\u6295\u8d44\u6301\u4ed3\u4e0e\u8d4c\u535a\u4e2d\u7684\u51ef\u5229\u516c\u5f0f Kelly Criterion<\/a>&nbsp;, https:\/\/ufqi.com\/blog\/kelly-bet-with-security\/<\/li><li><a rel=\"noreferrer noopener\" href=\"https:\/\/ufqi.com\/blog\/who-buy-in-bearish-stock-market\/\" target=\"_blank\">\u8bc1\u5238\u80a1\u7968\u5e02\u573a\u718a\u5e02\u4e2d\u8c01\u5728\u4e70\u5165?<\/a>&nbsp;https:\/\/ufqi.com\/blog\/who-buy-in-bearish-stock-market\/<\/li><li><a rel=\"noreferrer noopener\" href=\"https:\/\/ufqi.com\/blog\/risk-hedge-and-market-neutral-with-ai-cycle\/\" target=\"_blank\">\u91d1\u878d\u8bc1\u5238\u4ea4\u6613\u7684\u5e02\u573a\u4e2d\u6027\u98ce\u9669\u5bf9\u51b2\u7684\u6295\u8d44\u7b56\u75654\/4<\/a>\uff0c https:\/\/ufqi.com\/blog\/risk-hedge-and-market-neutral-with-ai-cycle\/<\/li><li><a rel=\"noreferrer noopener\" href=\"https:\/\/ufqi.com\/blog\/risk-hedge-and-market-neutral-with-edward-throp\/\" target=\"_blank\">\u91d1\u878d\u8bc1\u5238\u4ea4\u6613\u7684\u5e02\u573a\u4e2d\u6027\u98ce\u9669\u5bf9\u51b2\u7684\u6295\u8d44\u7b56\u75653\/4<\/a>\uff0c https:\/\/ufqi.com\/blog\/risk-hedge-and-market-neutral-with-edward-throp\/<\/li><li><a href=\"https:\/\/ufqi.com\/blog\/risk-hedge-and-market-neutral-with-smth-bbs\/\">\u91d1\u878d\u8bc1\u5238\u4ea4\u6613\u7684\u5e02\u573a\u4e2d\u6027\u98ce\u9669\u5bf9\u51b2\u7684\u6295\u8d44\u7b56\u75652\/4<\/a>\uff0c https:\/\/ufqi.com\/blog\/risk-hedge-and-market-neutral-with-smth-bbs\/<\/li><li><a rel=\"noreferrer noopener\" href=\"https:\/\/ufqi.com\/blog\/risk-hedge-and-market-neutral-in-investing\/\" target=\"_blank\">\u91d1\u878d\u8bc1\u5238\u4ea4\u6613\u7684\u5e02\u573a\u4e2d\u6027\u98ce\u9669\u5bf9\u51b2\u7684\u6295\u8d44\u7b56\u75651\/4<\/a>\uff0c https:\/\/ufqi.com\/blog\/risk-hedge-and-market-neutral-in-investing\/<\/li><li>11~41\u6682\u6536\u8d77\u7565\u8fc7\uff0c\u8bf7\u4ece\u4e0a\u4e00\u8282\u8fdb\u5165\u67e5\u8be2\u67e5\u770b\u3002<br \/>\u2014-<\/li><\/ol>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"https:\/\/ufqi.com\/finance\"><img loading=\"lazy\" width=\"256\" height=\"256\" src=\"https:\/\/ufqi.com\/blog\/wp-content\/uploads\/2022\/01\/ufqifina-logo.png\" alt=\"ufqifina\" class=\"wp-image-2724\" srcset=\"https:\/\/ufqi.com\/blog\/wp-content\/uploads\/2022\/01\/ufqifina-logo.png 256w, https:\/\/ufqi.com\/blog\/wp-content\/uploads\/2022\/01\/ufqifina-logo-150x150.png 150w\" sizes=\"(max-width: 256px) 100vw, 256px\" \/><\/a><figcaption>\u6709\u798f\u91d1\u878dUfqiFina : https:\/\/ufqi.com\/finance<\/figcaption><\/figure>\n\n\n\n<p>\u6709\u798f\u91d1\u878d \u662f\u4e00\u4e2a\u65e8\u5728\u4fc3\u8fdb\u8d22\u5bcc\u7a33\u6b65\u589e\u957f\u7684\u5de5\u5177\u5e73\u53f0\u3002<br \/>UfqiFina is a platform of tools designed to promote wealth growth steadily.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u80a1\u7968\u7684\u4ef7\u683c\u7ebf\u4e0e\u6536\u76ca\u7ebf\u7684\u6ce2\u52a8\u662f\u5e76\u9a7e\u9f50\u9a71\u7684\uff0c\u5982\u679c\u80a1\u7968\u4ef7\u683c\u7ebf\u7684\u6ce2\u52a8\u504f\u79bb\u4e86\u6536\u76ca\u7ebf\uff0c\u5b83\u8fdf\u65e9 &hellip; <a href=\"https:\/\/ufqi.com\/blog\/investment-undervalued-factor-pearson-cc-p2\/\">\u7ee7\u7eed\u9605\u8bfb <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":3439,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[752,3],"tags":[753,564,746,743,398,571,744,397],"_links":{"self":[{"href":"https:\/\/ufqi.com\/blog\/wp-json\/wp\/v2\/posts\/3435"}],"collection":[{"href":"https:\/\/ufqi.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ufqi.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ufqi.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ufqi.com\/blog\/wp-json\/wp\/v2\/comments?post=3435"}],"version-history":[{"count":16,"href":"https:\/\/ufqi.com\/blog\/wp-json\/wp\/v2\/posts\/3435\/revisions"}],"predecessor-version":[{"id":3454,"href":"https:\/\/ufqi.com\/blog\/wp-json\/wp\/v2\/posts\/3435\/revisions\/3454"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ufqi.com\/blog\/wp-json\/wp\/v2\/media\/3439"}],"wp:attachment":[{"href":"https:\/\/ufqi.com\/blog\/wp-json\/wp\/v2\/media?parent=3435"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ufqi.com\/blog\/wp-json\/wp\/v2\/categories?post=3435"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ufqi.com\/blog\/wp-json\/wp\/v2\/tags?post=3435"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}