量化投资

交易策略是量化投资中的核心问题。

Trading strategy is the core of quantitative investment .

而现代量化投资的理念无疑引领着证券投资行业的新一轮变革。

Today , modern quantitative investment is leading investment industry to a new round of revolution .

易方达基金管理公司（efundmanagement）指数与量化投资部驻广州总经理刘震表示，允许专户投资于大宗商品期货的规定，将促使基金公司开发能产生绝对回报的产品。

Allowing segregated accounts to invest in commodities futures will encourage fund managers to develop products that generate absolute returns , says Liu Zhen , Guangzhou-based general manager of the index and quantitative strategies department at e fund management .

获取资产和库的度量以便能够量化投资回报

Capturing asset and repository metrics to be able to quantify return on investment

全球范围内，越来越多的投资者进入量化投资这个领域，量化投资已经成为一种主流的投资方式。

An increasing number of investors are moving into the quantitative investing field .

在目前全球最大的10家对冲基金中，有3家为纯量化投资基金。

Three of the 10 biggest hedge funds in the world are purely quantitative .

最后，也是本文的重点，通过构建一个数量化投资模型，进行分析。

Last and the most important , I will analyze this through constructing a model .

接着阐述了一些量化投资的优势以及为什么选择量化投资。

Then we introduce the advantages of quantitative investing and explain why to choose quantitative method .

与传统的风险测量方法相比，方差-协方差法和历史模拟法在精确量化投资风险方面具有简捷易行的显著优势。

Compared with traditional methods , it has distinct merits of simple and easiness in quantitating the investment risk .

由于量化投资的兴起，高频交易在国外的市场中占有越来越重要的地位。

With the rise of quantitive investment , high frequency trading plays a much more important role in foreign markets .

这对于金融投资过程中、尤其是量化投资中，对市场特征的量化提供了有力的参考工具。

This financial investment process , particularly quantitative investment , the quantification of the market characteristics provide a powerful reference tool .

在国内，量化投资虽仍处于起步阶段，但其发展迅速，所受市场的重视程度也超过其他投资方法。

In the domestic market , it gains quick development and more attention than other invest-ment techniques , although it is still at the primary stage .

量化投资作为一种新的投资方法，在海外的发展已有30多年的历史，由于投资业绩稳定，其所占市场规模和份额不断扩大。

Quantitative investment has history of more than thirty years in the oversea market and its market occupancy is still increasing because of its stable investment performance .

量化投资根据历史数据进行统计分析，以发现可能存在的资产收益率模式，并据此进行投资操作；统计套利属于量化投资的一种形式，是考虑了对冲手段的量化投资。

Quantitative investment is based on historical data to find some patterns of asset return which can be used to invest . Statistical arbitrage is one of quantitative investment method which take hedging into account .

国内股指期货上市，融资融券业务、国债期货的推出以及期权的筹备，使得量化投资策略的实现有了一定的基础。

In recent years , Chinese government implements the stock index futures , security margin trading and emulation trading of treasury bonds futures as well as options , which lay a solid foundation for quantitative investment .

由于期货的杠杆性，风险比股票市场高很多，因此以程序化和量化投资为核心策略的交易将成为资产管理业务主要的投资方式，以追求稳定的收益。

Futures market is more risky than stock market due to its leverage . Therefore , to pursue steady profits , trading strategies based on programing and quantitative investing will be main products of asset management business .

在此契机下，以追求绝对收益为目标的量化投资策略得到广泛关注，并快速发展。

At this time , quantitative investment strategies , in the pursuit of alpha return , have been caught more attention . Having learned from experiences abroad , the number of native quantitative trading funds is growing fast .

指数种类的爆炸式增长，一方面表明了金融行业中对于量化投资成果和过程的关注，但另一方面也表明了指数化的威力和对投资市场深远的影响。

On the one hand , explosive growth of index shows the attention to achievements and process of the quantitative investment , but it also shows the powerful of the index and deeply influence on the investment market .

从实践层面来看，量化投资是近十年来兴起的一个新的投资理念和投资方法，而我国股票市场长期以来尚未建立有效的做空机制。

From the practical level , quantitative investment is rise in nearly a decade of a new investment ideas and methods , but Chinese stock market has not yet set up an effective mechanism of short during the long time .

而数量化投资带给我们的是一种全新的思维，它颠覆了模拟指数被动型投资尊崇的大盘指数无法超越，反驳了我们很难获得超越市场平均收益的固定思维。

However , the amount of the investment will bring us a new way of thinking , and it subverts the simulated index respected passive investment cannot exceed the market index , and refute difficult to get beyond our market averages .

同时，在量化投资、程序化交易日渐盛行的今天，金融市场风险更趋复杂，市场之间的信息传递和风险溢出将对现有监管体制提出更大的考验。

Meanwhile , as quantitative investment , program trading has becomes more and more popular now , the risk of financial market appears more complex , risk overflow and information transmission between markets proposed a greater challenge to the existing regulatory system .

首先，学校的业务在改变，需要提供全套产品，其中包括全脱产MBA课程和定制的高管教育课程等。企业对此要求取得近乎量化的投资回报。

The first is the changing business , with the need to cover everything from full-time MBA programmes to tailor-made executive education , on which companies are expecting almost measurable return on investment .

这需要政府、商业银行、投资机构和投资银行等充分了解信贷资产证券化的具体运作，预先做好准备，并量化其投资价值。

This needs government , commercial banks , investment institutions and investment banks , etc. to know more about its operational process .

本文采用量化方法研究证券投资基金分散化投资的风险问题。

This article researches into the analyses of the risk of diversified investment of security investment funds by mathematical methods .

由于目前缺少对于风险投资数据的统计，我们无法将其进行量化，所以风险投资部分仅作了定性的探讨。

Because there is not enough database for us to make quantitative analysis so we just give some qualitative analysis .