沪市建筑业股票收益率分布的对称性研究

A Study on the Symmetry of Yield Distribution of Stock about the Construction Industry on Shanghai Security Market

采用威尔科克森-曼-惠特尼检验法和哥尔莫哥洛夫-斯米尔诺夫检验法对上海证券市场建筑业股票收益率分布的对称性进行统计研究后得出的结果表明,上海证券市场建筑业股票收益率既不符合正态分布,也不具有对称性,因此就不能直接把经典的股票定价模型和风险管理技术运用到投资决策中去,而需要进一步地研究收益率的分布状况,才能进行正确的投资决策.

This paper studies the symmetry of the distribution of the yield of the stock about the industry of construction on Shanghai security market by the methods of Wilcoxon-Mann-Whitney and Kolmogorov-Smirnov, and draws the conclusion that the distribution of the yield neither obeys the normal distribution nor has symmetry, so we should not directly apply the classical pricing model of the stock and the technology of risk management to the investment decision, but more deeply study the distribution of the yield, so that we can make correct investment decisions.