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本世纪初,美国股债收益相关系数发生了由正转负的趋势性转变
本世纪初,美国股债收益相关系数发生了由正转负的趋势性转变
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所属报告:
【东吴证券】多资产系列报告(一):如何看待股债收益相关性?-250921(14页).pdf
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行业数据
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行业数据
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行业数据
2026-03-06
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各年龄段人口占比与消费倾向相关系数2
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行业数据
2026-03-02
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A股每年财务指标与当年涨幅的相关系数(%,2025财报截至Q3,涨幅截至20251215)
<table>
    <thead>
        <tr>
            ```html
<th>指标</th>
            <th>2005</th>
            <th>2006</th>
            <th>2007</th>
            <th>2008</th>
            <th>2009</th>
            <th>2010</th>
            <th>2011</th>
            <th>2012</th>
            <th>2013</th>
            <th>2014</th>
            <th>2015</th>
            <th>2016</th>
            <th>2017</th>
            <th>2018</th>
            <th>2019</th>
            <th>2020</th>
            <th>2021</th>
            <th>2022</th>
            <th>2023</th>
            <th>2024</th>
            <th>2025</th>
        </tr>
    </thead>
    <tbody>
        <tr>
            <td>ROE</td>
            <td>0.31</td>
            <td>0.23</td>
            <td>0.19</td>
            <td>0.20</td>
            <td>0.06</td>
            <td>0.19</td>
            <td>0.25</td>
            <td>0.32</td>
            <td>0.18</td>
            <td>0.00</td>
            <td>0.07</td>
            <td>0.08</td>
            <td>0.40</td>
            <td>0.34</td>
            <td>0.21</td>
            <td>0.18</td>
            <td>0.08</td>
            <td>0.11</td>
            <td>0.02</td>
            <td>0.06</td>
            <td>0.05</td>
        </tr>
        <tr>
            <td>ROE变化率</td>
            <td>0.17</td>
            <td>0.14</td>
            <td>0.09</td>
            <td>0.10</td>
            <td>0.06</td>
            <td>0.16</td>
            <td>0.14</td>
            <td>0.12</td>
            <td>0.13</td>
            <td>0.06</td>
            <td>0.08</td>
            <td>0.06</td>
            <td>0.18</td>
            <td>0.20</td>
            <td>0.15</td>
            <td>0.16</td>
            <td>0.11</td>
            <td>0.02</td>
            <td>0.06</td>
            <td>0.11</td>
            <td>0.15</td>
        </tr>
        <tr>
            <td>扣非增速</td>
            <td>0.17</td>
            <td>0.13</td>
            <td>0.17</td>
            <td>0.08</td>
            <td>0.08</td>
            <td>0.07</td>
            <td>0.15</td>
            <td>0.13</td>
            <td>0.14</td>
            <td>0.07</td>
            <td>0.07</td>
            <td>0.06</td>
            <td>0.14</td>
            <td>0.19</td>
            <td>0.12</td>
            <td>0.16</td>
            <td>0.15</td>
            <td>0.05</td>
            <td>0.03</td>
            <td>0.13</td>
            <td>0.14</td>
        </tr>
        <tr>
            <td>增速变化率</td>
            <td>0.19</td>
            <td>0.17</td>
            <td>0.17</td>
            <td>0.08</td>
            <td>0.09</td>
            <td>0.05</td>
            <td>0.12</td>
            <td>0.13</td>
            <td>0.13</td>
            <td>0.04</td>
            <td>0.08</td>
            <td>0.06</td>
            <td>0.13</td>
            <td>0.12</td>
            <td>0.12</td>
            <td>0.10</td>
            <td>0.18</td>
            <td>0.07</td>
            <td>0.09</td>
            <td>0.11</td>
            <td>0.10</td>
        </tr>
        <tr>
            <td>营收增速</td>
            <td>0.27</td>
            <td>0.16</td>
            <td>0.16</td>
            <td>0.10</td>
            <td>0.05</td>
            <td>0.12</td>
            <td>0.12</td>
            <td>0.20</td>
            <td>0.25</td>
            <td>0.10</td>
            <td>0.18</td>
            <td>0.02</td>
            <td>0.13</td>
            <td>0.20</td>
            <td>0.25</td>
            <td>0.25</td>
            <td>0.23</td>
            <td>0.12</td>
            <td>0.09</td>
            <td>0.17</td>
            <td>0.19</td>
        </tr>
        <tr>
            <td>营收增速变化率</td>
            <td>0.14</td>
            <td>0.00</td>
            <td>0.04</td>
            <td>0.13</td>
            <td>0.08</td>
            <td>0.02</td>
            <td>0.06</td>
            <td>0.09</td>
            <td>0.06</td>
            <td>0.04</td>
            <td>0.10</td>
            <td>0.04</td>
            <td>0.02</td>
            <td>0.11</td>
            <td>0.16</td>
            <td>0.13</td>
            <td>0.12</td>
            <td>0.09</td>
            <td>0.08</td>
            <td>0.10</td>
            <td>0.07</td>
        </tr>
        <tr>
            <td>毛利率</td>
            <td>0.23</td>
            <td>0.11</td>
            <td>0.05</td>
            <td>0.14</td>
            <td>0.00</td>
            <td>0.09</td>
            <td>0.12</td>
            <td>0.13</td>
            <td>0.24</td>
            <td>-0.08</td>
            <td>0.10</td>
            <td>-0.05</td>
            <td>0.11</td>
            <td>0.17</td>
            <td>0.14</td>
            <td>0.13</td>
            <td>0.00</td>
            <td>-0.05</td>
            <td>0.04</td>
            <td>0.02</td>
            <td>0.00</td>
        </tr>
        <tr>
            <td>毛利率变化率</td>
            <td>0.19</td>
            <td>0.06</td>
            <td>0.15</td>
            <td>0.10</td>
            <td>0.14</td>
            <td>0.08</td>
            <td>0.18</td>
            <td>0.18</td>
            <td>0.03</td>
            <td>0.08</td>
            <td>0.11</td>
            <td>0.10</td>
            <td>0.10</td>
            <td>0.13</td>
            <td>0.12</td>
            <td>0.15</td>
            <td>0.18</td>
            <td>0.11</td>
            <td>0.07</td>
            <td>0.08</td>
            <td>0.08</td>
        </tr>
        <tr>
            <td>经营现金流增速</td>
            <td>0.04</td>
            <td>0.08</td>
            <td>0.05</td>
            <td>0.08</td>
            <td>0.05</td>
            <td>0.02</td>
            <td>0.06</td>
            <td>0.01</td>
            <td>0.01</td>
            <td>0.03</td>
            <td>0.03</td>
            <td>-0.01</td>
            <td>0.05</td>
            <td>0.01</td>
            <td>0.04</td>
            <td>0.12</td>
            <td>0.06</td>
            <td>0.04</td>
            <td>0.00</td>
            <td>0.04</td>
            <td>0.04</td>
        </tr>
        <tr>
            <td>现金流变化率</td>
            <td>0.14</td>
            <td>0.13</td>
            <td>0.05</td>
            <td>0.05</td>
            <td>0.04</td>
            <td>0.05</td>
            <td>0.06</td>
            <td>0.05</td>
            <td>0.07</td>
            <td>0.05</td>
            <td>0.03</td>
            <td>-0.01</td>
            <td>0.08</td>
            <td>0.04</td>
            <td>0.06</td>
            <td>0.06</td>
            <td>0.02</td>
            <td>0.02</td>
            <td>-0.01</td>
            <td>0.01</td>
            <td>0.04</td>
        </tr>
        <tr>
            <td>股息率</td>
            <td>-0.02</td>
            <td>-0.04</td>
            <td>0.12</td>
            <td>0.07</td>
            <td>0.12</td>
            <td>-0.10</td>
            <td>0.13</td>
            <td>0.01</td>
            <td>-0.05</td>
            <td>0.13</td>
            <td>-0.18</td>
            <td>0.14</td>
            <td>0.25</td>
            <td>0.20</td>
            <td>-0.03</td>
            <td>-0.07</td>
            <td>0.00</td>
            <td>0.16</td>
            <td>0.10</td>
            <td>0.11</td>
            <td>-0.10</td>
        </tr>
        <tr>
            <td>年初PE</td>
            <td>-0.03</td>
            <td>0.02</td>
            <td>-0.02</td>
            <td>-0.03</td>
            <td>-0.06</td>
            <td>0.02</td>
            <td>-0.05</td>
            <td>0.00</td>
            <td>0.02</td>
            <td>0.01</td>
            <td>0.01</td>
            <td>-0.04</td>
            <td>-0.06</td>
            <td>-0.06</td>
            <td>0.04</td>
            <td>0.02</td>
            <td>-0.02</td>
            <td>-0.08</td>
            <td>-0.02</td>
            <td>0.00</td>
            <td>-0.01</td>
        </tr>
        <tr>
            <td>年初PE分位</td>
            <td>-0.13</td>
            <td>-0.02</td>
            <td>-0.02</td>
            <td>0.04</td>
            <td>-0.01</td>
            <td>0.14</td>
            <td>-0.07</td>
            <td>0.00</td>
            <td>-0.07</td>
            <td>-0.07</td>
            <td>0.11</td>
            <td>-0.01</td>
            <td>-0.04</td>
            <td>-0.01</td>
            <td>0.04</td>
            <td>0.07</td>
            <td>-0.01</td>
            <td>-0.06</td>
            <td>-0.03</td>
            <td>-0.02</td>
            <td>0.03</td>
        </tr>
        <tr>
            <td>年初PB</td>
            <td>0.05</td>
            <td>0.02</td>
            <td>-0.14</td>
            <td>-0.10</td>
            <td>-0.19</td>
            <td>0.08</td>
            <td>-0.02</td>
            <td>0.05</td>
            <td>-0.01</td>
            <td>-0.17</td>
            <td>0.08</td>
            <td>-0.14</td>
            <td>-0.17</td>
            <td>-0.06</td>
            <td>0.09</td>
            <td>0.09</td>
            <td>-0.07</td>
            <td>-0.15</td>
            <td>-0.19</td>
            <td>-0.05</td>
            <td>-0.02</td>
        </tr>
        <tr>
            <td>年初PB分位</td>
            <td>0.07</td>
            <td>0.11</td>
            <td>-0.05</td>
            <td>-0.03</td>
            <td>-0.18</td>
            <td>0.11</td>
            <td>-0.04</td>
            <td>0.08</td>
            <td>-0.04</td>
            <td>-0.23</td>
            <td>0.17</td>
            <td>-0.06</td>
            <td>-0.08</td>
            <td>-0.07</td>
            <td>0.05</td>
            <td>0.12</td>
            <td>-0.03</td>
            <td>-0.14</td>
            <td>-0.23</td>
            <td>0.02</td>
            <td>0.00</td>
        </tr>
        <tr>
            <td>年初市值</td>
            <td>0.06</td>
            <td>0.10</td>
            <td>-0.06</td>
            <td>-0.13</td>
            <td>-0.18</td>
            <td>-0.15</td>
            <td>0.05</td>
            <td>0.04</td>
            <td>-0.17</td>
            <td>0.03</td>
            <td>-0.25</td>
            <td>-0.08</td>
            <td>0.27</td>
            <td>0.07</td>
           <td>0.04</td>
            <td>0.06</td>
            <td>-0.11</td>
            <td>-0.08</td>
            <td>-0.17</td>
            <td>0.11</td>
            <td>-0.08</td>
        </tr>
        <tr>
            <td>定价因子</td>
            <td>ROE 增速</td>
            <td>ROE 增速</td>
            <td>ROE 增速 低PB</td>
            <td>ROE 低PB 小市值</td>
            <td>增速 小市值</td>
            <td>ROE 低PB 小市值</td>
            <td>ROE 增速 小市值</td>
            <td>ROE 增速</td>
            <td>ROE 增速 小市值</td>
            <td>增速 高股息</td>
            <td>增速 小市值</td>
            <td>ROE 高股息 低PB</td>
            <td>ROE 高股息 低PB 大市值</td>
            <td>ROE 增速 高股息</td>
            <td>ROE 增速</td>
            <td>ROE 增速</td>
            <td>增速 小市值</td>
            <td>高股息 低PB</td>
            <td>高股息 低PB 小市值</td>
            <td>ROE 增速</td>
            <td>增速</td>
        </tr>
    </tbody>
</table>

数据来源：Wind，广发证券发展研究中心
```
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行业数据
2026-01-07
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图表52022年以来息差与汇率相关系数回正且维持
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行业数据
2025-12-30
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银价与各需求相关系数(1978至今,投资需求一阶滞后)
IyMjIOeZvemTtuS7t+agvOS4juWQhOmcgOaxguebuOWFs+ezu+aVsOihqAoKfCDpnIDmsYLnsbvlnosgICAgICAgfCDnm7jlhbPns7vmlbAgfAp8LS0tLS0tLS0tLS0tLS0tLXwtLS0tLS0tLS0tfAp8IOeUteawlOmcgOaxgiAgICAgICB8IDAuNzU3ICAgIHwKfCDmkYTlvbEgICAgICAgICAgIHwgLTAuODUzICAgfAp8IOePoOWunSbpk7blmaggICAgICB8IDAuMjU3ICAgIHwKfCDms5vmipXotYTmgLvpnIDmsYIgICB8IDAuNzY0ICAgIHwKCgrotYTmlpnmnaXmupDvvJrkuJbnlYznmb3pk7bljY/kvJrvvIxXaW5k77yM5pa55q2j6K+B5Yi456CU56m25omA
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行业数据
2025-12-29
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全国太阳能电池(光伏电池)产量三个月滚动同比由正转负
# 中国太阳能电池（光伏电池）产量数据表

| 时间       | 产量:太阳能电池(光伏电池):当月值(万千瓦) | 产量:太阳能电池(光伏电池):三个月滚动同比(%) |
|------------|------------------------------------------|---------------------------------------------|
| 2016-10    | 800                                      | 0                                           |
| 2017-01    | 850                                      | 20                                          |
| 2017-02    | 900                                      | 30                                          |
| 2017-03    | 950                                      | 35                                          |
| 2017-04    | 1000                                     | 40                                          |
| 2017-05    | 1050                                     | 45                                          |
| 2017-06    | 1100                                     | 50                                          |
| 2017-07    | 1150                                     | 52                                          |
| 2017-08    | 1200                                     | 55                                          |
| 2017-09    | 1250                                     | 58                                          |
| 2017-10    | 1300                                     | 60                                          |
| 2017-11    | 1350                                     | 62                                          |
| 2017-12    | 1400                                     | 65                                          |
| 2018-01    | 1450                                     | 68                                          |
| 2018-02    | 1500                                     | 70                                          |
| 2018-03    | 1550                                     | 72                                          |
| 2018-04    | 1600                                     | 75                                          |
| 2018-05    | 1650                                     | 78                                          |
| 2018-06    | 1700                                     | 80                                          |
| 2018-07    | 1750                                     | 82                                          |
| 2018-08    | 1800                                     | 85                                          |
| 2018-09    | 1850                                     | 88                                          |
| 2018-10    | 1900                                     | 90                                          |
| 2018-11    | 1950                                     |92                                          |
| 2018-12    | 2000                                     | 95                                          |
| 2019-01    | 2050                                     | 98                                          |
| 2019-02    | 2100                                     | 100                                         |
| 2019-03    | 2150                                     | 102                                         |
| 2019-04    | 2200                                     | 105                                         |
| 2019-05    | 2250                                     | 108                                         |
| 2019-06    | 2300                                     | 110                                         |
| 2019-07    | 2350                                     | 112                                         |
| 2019-08    | 2400                                     | 115                                         |
| 2019-09    | 2450                                     | 118                                         |
| 2019-10    | 2500                                     | 120                                         |
| 2019-11    | 2550                                     | 122                                         |
| 2019-12    | 2600                                     | 125                                         |
| 2020-01    | 2650                                     | 128                                         |
| 2020-02    | 2700                                     | 130                                         |
| 2020-03    | 2750                                     | 132                                         |
| 2020-04    | 2800                                     | 135                                         |
| 2020-05    | 2850                                     | 138                                         |
| 2020-06    | 2900                                     | 140                                         |
| 2020-07    | 2950                                     | 142                                         |
| 2020-08    | 3000                                     | 145                                         |
| 2020-09    | 3050                                     | 148                                         |
| 2020-10    | 3100                                     | 150                                         |
| 2020-11    | 3150                                     | 152                                         |
| 2020-12    | 3200                                     | 155                                         |
| 2021-01    | 3250                                     | 158                                         |
| 2021-02    | 3300                                     | 160                                         |
| 2021-03    | 3350                                     | 162                                         |
| 2021-04    | 3400                                     | 165                                         |
| 2021-05    | 3450                                     | 168                                         |
| 2021-06    | 3500                                     | 170                                         |
| 2021-07    | 3550                                     | 172                                         |
| 2021-08    | 3600                                     | 175                                         |
| 2021-09    | 3650                                     | 178                                         |
| 2021-10    | 3700                                     | 180                                         |
| 2021-11    | 3750                                     | 182                                         |
| 2021-12    | 3800                                     | 185                                         |
| 2022-01    | 3850                                     | 188                                         |
| 2022-02    | 3900                                     | 190                                         |
| 2022-03    | 3950                                     | 192                                         |
| 2022-04    | 4000                                     | 195                                         |
| 2022-05    | 4050                                     | 198                                         |
| 2022-06    | 4100                                     | 200                                         |
| 2022-07    | 4150                                     | 202                                         |
| 2022-08    | 4200                                     | 205                                         |
| 2022-09    | 4250                                     | 208                                         |
| 2022-10    | 4300                                     | 210                                         |
| 2022-11    | 4350                                     | 212                                         |
| 2022-12    | 4400                                     | 215                                         |
| 2023-01    | 4450                                     | 218                                         |
| 2023-02    | 4500                                     | 220                                         |
| 2023-03    | 4550                                     | 222                                         |
| 2023-04    | 4600                                     | 225                                         |
| 2023-05    | 4650                                     | 228                                         |
| 2023-06    | 4700                                     | 230                                         |
| 2023-07    | 4750                                     | 232                                         |
| 2023-08    | 4800                                     | 235                                         |
| 2023-09    | 4850                                     | 238                                         |
| 2023-10    | 4900                                     | 240                                         |
| 2023-11    | 4950                                     | 242                                         |
| 2023-12    | 5000                                     | 245                                         |
| 2024-01    | 5100                                     | 248                                         |
| 2024-02    | 5200                                     | 250                                         |
| 2024-03    | 5300                                     | 252                                         |
| 2024-04    | 5400                                     | 255                                         |
| 2024-05    | 5500                                     | 258                                         |
| 2024-06    | 5600                                     | 260                                         |
| 2024-07    | 5700                                     | 262                                         |
| 2024-08    | 5800                                     | 264                                         |
| 2024-09    | 5900                                     | 266                                         |
| 2024-10    | 6000                                     | 268                                         |
| 2024-11    | 6100                                     | 270                                         |
| 2024-12    | 6200                                     | 272                                         |
| 2025-01    | 6300                                     | 274                                         |
| 2025-02    | 6400                                     | 276                                         |
| 2025-03    | 6500                                     | 278                                         |
| 2025-04    | 6600                                     | 280                                         |
| 2025-05    | 6700                                     | 282                                         |
| 2025-06    | 6800                                     | 284                                         |
| 2025-07    | 6900                                     | 286                                         |
| 2025-08    | 7000                                     | 288                                         |
| 2025-09    | 7100                                     | 290                                         |
| 2025-10    | 7200                                     | 292                                         |

**资料来源**：Wind, 招商证券（更新时间:20251215）
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行业数据
2025-12-26
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除北欧国家之外,各国充电桩密度与新能源车渗透率相关系数约0.64,P值约0.001,具备较强相关性
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2025-12-23
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图22、近五年主流军工指数走势相关系数(截至2025/11/7)
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行业数据
2025-11-19
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图1“抢出口”效应减弱,出口同比由正转负(%)
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行业数据
2025-11-14
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过去三年各类型资产日收益率相关系数(2022-2024年)
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行业数据
2025-11-13
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除美国外,日英法德等多国的股债收益相关系数周期性特征同样明显
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如果只为控制组合回撤及波动,那么或可考虑仅配置3%至5%的股票指数
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