中国股市汽车板块及相关行业风险与收益的实证研究

AN EMPIRICAL STUDY OF THE EARNING RATIO AND RISK IN CHINA STOCK MARKET OF THE AUTOMOBILE INDUSTRY AND ITS ASSOCIATED TRADES

股票投资是一种风险投资,股票的投资组合是一种重要投资方式,它可以有效地降低投资风险,增大收益率.本文首先介绍了中国股市的发展和汽车板块及相关行业的近况,然后以2002年3月31日到2003年3月31日为参考时限,选择汽车板块及相关行业(金融、钢铁、石化、汽车零部件)的30只股票作为样本,以季度收益率为指标,计算样本股票的标准差,对汽车板块与其它4个板块投资组合,得到相关系数并进行实证分析,对汽车板块与相关行业的联动性的大小加以分析.

Stock investment is advent,so securities association is significant investment, it can reduce the investment risk and promote the investment earning ratio.This paper firstly introduces the development in China's stock market especialy the automobile industry and its associated trades (finance, iron and steel industry, petrochemical industry and automobile components and parts industry). Then, we take the period between March, 312 002 and March, 312 003 for reference, and choose 30 stock samples, calculating the standard deviation of the samples with quarterly rate of return as index. And it gets the interrelated coefficients among the automobile industry and other 4 associated combinatorial investments with analytic demonstrations, and then analyses their coupling properties.