我国股票市场行业板块波动实证分析

The Empirical Analysis of the Fluctuation of Industry Sector in China’s Stock Market

鉴于我国股票市场存在着行业板块轮动现象,本文利用行业指数与沪深300指数对行业板块进行实证研究,分析了各个行业与大盘间的相关性,并探讨了行业之间以及行业与大盘波动的格兰杰因果关系。通过对结论的分析,可以有助于了解股市波动规律,同时为投资者提供一些建议,减少投资风险。

In view of that the China＇s stock market has the phenomenon of alternate industry plate movement, this article uses the index of industry index and hushen300 index for empirical research. In the process of research,we analyze the correlations between all the industries and market, and employ Granger causes testing the relationship among industries even the market. The conclusions contribute to the understanding of the stock market fluctuation, meanwhile, it can provide some suggestions for investors to reduce investment risks.