基于影响因素分析的动态证券投资组合模型

Dynamic Portfolio Model Based on the Analysis of the Influencing Factors

摘要: 本文讨论了长期证券投资组合中的策略问题。长期证券投资中，投资收益动态地受制于影响证券价格波动的各种因素。为了获得令人满意的投资收益，我们通过分析不同证券对影响因素的不同敏感度，相应地预测不同证券动态的收益率，并以此设立不同证券在投资组合中的动态投资比例，从而建立了基于影响因素分析的动态证券投资组合模型。利用这个模型，我们具体地讨论了在不同的投资环境中，不同的投资时期，如何根据具体的影响因素，动态地调节投资比例，使投资组合更好地适应市场变化，从而达到降低投资风险，提高收益的目的。

Abstract: This paper discusses the strategies of long-term securities portfolio. For a long-term securities in-vestment, its investment income is limited dynamically to the various factors affecting stock price fluctuations. In order to obtain satisfactory return, by the sensitivity analysis of different securities to the influencing factors, we predict the dynamic yields of different securities, set up dynamic investment proportion to different securities in a portfolio, and then establish a dynamic portfolio model based on the analysis of the influencing factors. Using this model, we discuss concretely how to dynamically adjust investment proportions in portfolios, according to the influencing factors in different investment environments and different investment periods to make the portfolio adapt to market changes better, so as to reduce investment risks and increase yields.