新华富时中国A25指数ETF期权多空比值与上证综指关系研究

本文选取新华富时中国A25指数ETF认沽期权、认购期权交易量比值和上证综指日收益率为研究对象,考察这两个时间序列的联动关系及两个市场的波动溢出关系,力图证明该ETF期权认购期权交易量与认沽期权交易量的比值能够在一定程度上预测中国上证综指的走势。向量自回归模型表明,多空比值与指数收益率之间存在长期均衡关系,且多空比值是收益率的格兰杰因。之后提取VECM中的误差修正项,带入双变量EC-EGARCH-M模型,结果表明,两市场存在时间序列波动聚集性、非对称性和波动溢出效应。最后,本文利用前述结果总结并建立指数投资策略。在样本时间范围内,该类投资策略能够获得比大盘更高的收益。

The relationship between the ratio of second fingers to fourth fingers （2D：4D） and the inheritance of athletic ability

This paper summarizes the ratio of 2D and 4D to the inheritance of athletic ability： 2D： 4D has been stereotypes before birth, and the mother＇s uterus testosterone concentration there is a negative correlation between the relationship, Testosterone concentration affects the development of the right hemisphere and spatial visual ability of the brain, thus affecting athletic ability. The mitochondrial genome （mtDNA） polymorphism is directly related to motor activity and has a high maternal genetic trait. Athlete mothers have higher testosterone, and their children have athletic advantages. 2D： 4D and mtDNA have good genetic markers, which are of great significance and prospect for the study of their inheritance of motor ability.