疫情冲击下中国股市投资策略构建--基于复杂网络视角  

Construction of Investment Strategy in Chinese Stock Market under the Impact of the Pandemic:Based on the Perspective of Complex Network

作　　者：洪振木[1] 赵杰 Hong Zhenmu;Zhao Jie(College of Finance,Anhui University of Finance and Economics,Bengbu,Anhui 233030,China)

机构地区：[1]安徽财经大学金融学院,安徽蚌埠233030

出　　处：《大理大学学报》2022年第12期65-70,共6页Journal of Dali University

基　　金：安徽省自然科学基金项目(2108085MA01);安徽财经大学校级重点项目(ACKYB21019);安徽财经大学研究生科研项目(ACYC2020142)。

摘　　要：新型冠状病毒肺炎疫情给中国股票市场带来了负面冲击。选取沪深300成分股为观测样本,从复杂网络的视角分析疫情冲击下中国股市的波动情况。基于股票相关系数向量的欧式距离和股票关联网络的社团划分提出一种投资策略,通过对比实验分析该策略的有效性。研究发现,新冠疫情的影响在股市中传播存在时滞。从欧氏距离较小的股票组合中选择处于不同社团的股票构建投资组合能够有效分散风险。在该投资策略指导下所做的投资组合在未来一年中能够获得较好的投资效果,为投资者的投资管理提供参考。The COVID-19 has brought a negative impact on China's stock market.Taking 300 constituent stocks of Shanghai and Shenzhen as observation samples,this paper analyzes the volatility of China's stock market under the impact of the pandemic from the perspective of complex network.Based on the Euclidean distance of stock correlation coefficient vector and the community division of stock correlation network,an investment strategy is proposed.The effectiveness of the strategy is analyzed through comparative experiments.It is found that there is a time lag in the transmission of the impact of COVID-19 in the stock market.Choosing stocks in different communities from stocks with small Euclidean distance can effectively spread the risk.The investment portfolio made under the guidance of this investment strategy will achieve better investment results in the next year,providing a reference for investors'investment management.

关 键 词：新冠疫情 复杂网络 欧氏距离 投资组合 

分 类 号：F832.5[经济管理—金融学]