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body_diff: "[{\"diffs\":[[1,\"<html>\\\r\\\n<head>\\\r\\\n  <title>越震荡越暴利：五年躺赚10000%的美股策略</title>\\\r\\\n  <basefont face=\\\"微软雅黑\\\" size=\\\"2\\\" />\\\r\\\n  <meta http-equiv=\\\"Content-Type\\\" content=\\\"text/html;charset=utf-8\\\" />\\\r\\\n  <meta name=\\\"exporter-version\\\" content=\\\"YXBJ Windows/608924 (zh-CN, DDL); Windows/10.0.0 (Win64); EDAMVersion=V2;\\\"/>\\\r\\\n  <meta name=\\\"content-class\\\" content=\\\"yinxiang.peso.superNote\\\"/>\\\r\\\n  <meta name=\\\"application-data:yinxiang.noteLayout\\\" content=\\\"{\\\"lineSpace\\\":\\\"recommend\\\",\\\"paragraphSpace\\\":\\\"recommend\\\"}\\\"/>\\\r\\\n  <style>\\\r\\\n\\tbody, td {\\\r\\\n\\t  font-family: 微软雅黑;\\\r\\\n\\t  font-size: 12pt;\\\r\\\n\\t}\\\r\\\n  </style>\\\r\\\n</head>\\\r\\\n<body>\\\r\\\n<a name=\\\"45559\\\"></a>\\\r\\\n<h1>越震荡越暴利：五年躺赚10000%的美股策略</h1>\\\r\\\n\\\r\\\n<div><span style=\\\"\\\"><div style=\\\"max-width: 700px;\\\"><p></p><div style=\\\"--en-blockquote: true; box-sizing: border-box; border-left: 3px solid #b4c0cc; background-position: initial initial; background-repeat: initial initial;\\\"><div>原文链接: <a href=\\\"https://mp.weixin.qq.com/s?__biz=MzAxMjUyNDQ5OA==&amp;mid=2653586318&amp;idx=1&amp;sn=10912cb46ab73df4d6c6187072ed8644&amp;chksm=81d12d5400882032b6ce18633063f49d2cbcf8648b0ee196da23c13e5415c22b27d2d4147e0f&amp;mpshare=1&amp;scene=1&amp;srcid=0808ymONIW6NAeg7hVneFbAN&amp;sharer_shareinfo=588cb640fc4e5593174c6d862d4111ac&amp;sharer_shareinfo_first=588cb640fc4e5593174c6d862d4111ac#rd\\\"><span>https://mp.weixin.qq.com/s?__biz=MzAxMjUyNDQ5OA==&amp;mid=265358...</span></a></div></div><p></p><div style=\\\"\\\"><div><div><div><span style=\\\"\\\">原创</span><span> 阿橙 </span><span><a style=\\\"\\\"> 开发者阿橙 </a></span><span><em></em></span></div><div style=\\\"\\\"><div><span><img src=\\\"越震荡越暴利：五年躺赚10000%的美股策略_files/640.jpg\\\" type=\\\"image/jpeg\\\" data-filename=\\\"640.jpg\\\" alt=\\\"图片\\\" style=\\\"--en-marks: %7B%22align%22%3A%22center%22%7D; width: auto;\\\" width=\\\"auto\\\"/></span></div><div style=\\\"box-sizing: border-box;\\\"><p style=\\\"box-sizing: border-box; color: black;\\\"><span style=\\\"letter-spacing: 2px;\\\"><span>大家好，我是橙哥！<span style=\\\"font-weight: bold;\\\">只需两个ETF，一套简单算法，竟能创造百倍收益</span>！它不惧牛熊，无视涨跌，仅靠两只ETF的价差波动就能持续获利。今天我将揭开这套“市场中性”策略的神秘面纱。</span></span></p><p style=\\\"box-sizing: border-box; color: black;\\\"><span style=\\\"\\\"><span><span style=\\\"letter-spacing: 2px;\\\">在量化交易的世界中，有一种策略被广泛使用，它以其独特的市场中性特性，在不预测市场涨跌的前提下，</span><span style=\\\"letter-spacing: 2px; font-weight: bold;\\\">利用两个高度相关资产之间的价差波动，持续获利</span><span style=\\\"letter-spacing: 2px;\\\">。这便是被称为</span></span><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"letter-spacing: 2px; color: rgb(255, 41, 65);\\\">配对交易（Pair Trading）</span></span></strong><span><span style=\\\"letter-spacing: 2px;\\\">的策略。今天，我将深入解析如何通过</span></span><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"letter-spacing: 2px; color: rgb(255, 41, 65);\\\">SPY（标普500 ETF）</span></span></strong><span><span style=\\\"letter-spacing: 2px;\\\"> 和 </span></span><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"letter-spacing: 2px; color: rgb(255, 41, 65);\\\">QQQ（纳斯达克100 ETF）</span></span></strong></span><span style=\\\"letter-spacing: 2px;\\\"><span> 这两只ETF，构建一套<span style=\\\"font-weight: bold;\\\">年化收益217%</span>的量化交易策略。<span style=\\\"color: rgb(0, 82, 255); font-weight: bold;\\\">本文策略完整代码请在文末下载。</span></span></span></p><div style=\\\"text-align: center;\\\"><img src=\\\"越震荡越暴利：五年躺赚10000%的美股策略_files/640.png\\\" type=\\\"image/png\\\" data-filename=\\\"640.png\\\" style=\\\"--en-marks: %7B%22align%22%3A%22center%22%7D; background-color: transparent; width: auto;\\\" width=\\\"auto\\\"/></div><h3 style=\\\"box-sizing: border-box; font-weight: bold; color: black; font-size: 20px;\\\"><span style=\\\"box-sizing: border-box;\\\"><span style=\\\"\\\"><span style=\\\"color: rgb(0, 82, 255);\\\">一、策略核心：均值回归的数学之美</span></span></span></h3><p style=\\\"box-sizing: border-box; color: black;\\\"><span style=\\\"letter-spacing: 2px;\\\"><span>配对交易的核心思想是</span></span><span style=\\\"\\\"><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"letter-spacing: 2px;\\\">统计学套利</span></span></strong><span><span style=\\\"letter-spacing: 2px;\\\">，即利用两只相关资产在短期内出现的定价偏差来获利。它的数学基础源自于</span></span><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"letter-spacing: 2px;\\\">均值回归理论</span></span></strong><span><span style=\\\"letter-spacing: 2px;\\\">：无论价差如何波动，最终都将回归到长期均衡。</span></span></span></p><p style=\\\"box-sizing: border-box; color: black;\\\"><span style=\\\"letter-spacing: 2px;\\\"><span>这就意味着，<span style=\\\"color: rgb(255, 41, 65); font-weight: bold;\\\">当两只资产的价差出现异常波动时，市场会自我修正，使价差恢复到历史均衡状态</span>。我们通过这一点来捕捉交易机会，赚取市场中的波动利润。</span></span></p><div style=\\\"text-align: center;\\\"><img src=\\\"越震荡越暴利：五年躺赚10000%的美股策略_files/640 [1].jpg\\\" type=\\\"image/jpeg\\\" data-filename=\\\"640.jpg\\\" style=\\\"--en-marks: %7B%22align%22%3A%22center%22%7D; background-color: transparent; width: auto;\\\" width=\\\"auto\\\"/></div><h4 style=\\\"box-sizing: border-box; font-weight: bold; color: black;\\\"><span style=\\\"box-sizing: border-box;\\\"><span style=\\\"\\\"><span style=\\\"letter-spacing: 2px;\\\">为什么SPY与QQQ是天生一对？</span></span></span></h4><p style=\\\"box-sizing: border-box; color: black;\\\"><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"letter-spacing: 2px; color: rgb(255, 41, 65);\\\">SPY</span></span></strong><span><span style=\\\"letter-spacing: 2px;\\\">：追踪标普500指数，涵盖美国大盘股，代表着传统经济。</span></span></p><p style=\\\"box-sizing: border-box; color: black;\\\"><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"letter-spacing: 2px; color: rgb(255, 41, 65);\\\">QQQ</span></span></strong><span><span style=\\\"letter-spacing: 2px;\\\">：追踪纳斯达克100指数，聚焦科技巨头，代表着新经济。</span></span></p><div style=\\\"text-align: center;\\\"><img src=\\\"越震荡越暴利：五年躺赚10000%的美股策略_files/640 [2].jpg\\\" type=\\\"image/jpeg\\\" data-filename=\\\"640.jpg\\\" style=\\\"--en-marks: %7B%22align%22%3A%22center%22%7D; background-color: transparent; width: auto;\\\" width=\\\"auto\\\"/></div><p style=\\\"box-sizing: border-box; color: black;\\\"><span><span style=\\\"letter-spacing: 2px;\\\">这两只ETF常年保持</span></span><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"letter-spacing: 2px; color: rgb(255, 41, 65);\\\">0.9以上的高相关性</span></span></strong><span><span style=\\\"letter-spacing: 2px;\\\">，但由于科技股的波动性，它们的价差经常出现规律性的震荡，这为我们提供了配对交易的绝佳机会。</span></span></p><h3 style=\\\"box-sizing: border-box; font-weight: bold; color: black; font-size: 20px;\\\"><span style=\\\"box-sizing: border-box;\\\"><span style=\\\"\\\"><span style=\\\"letter-spacing: 2px; color: rgb(0, 82, 255);\\\">二、100倍回报的配对交易系统</span></span></span></h3><h4 style=\\\"box-sizing: border-box; font-weight: bold; color: black;\\\"><span style=\\\"box-sizing: border-box;\\\"><span style=\\\"\\\">步骤1：价差与Z-Score——策略的灵魂指标</span></span></h4><p style=\\\"box-sizing: border-box; color: black;\\\"><span style=\\\"letter-spacing: 2px;\\\"><span>在配对交易中，</span></span><span style=\\\"\\\"><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"letter-spacing: 2px; color: rgb(255, 41, 65);\\\">价差（Spread）</span></span></strong><span><span style=\\\"letter-spacing: 2px;\\\"> 是策略的基础，而</span></span><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"letter-spacing: 2px; color: rgb(255, 41, 65);\\\">Z-Score</span></span></strong></span><span style=\\\"letter-spacing: 2px;\\\"><span>则是信号发生器的核心。Z-Score帮助我们衡量当前价差与历史均值的偏离程度，进而判断交易的时机。</span></span></p><div style=\\\"text-align: center;\\\"><img src=\\\"越震荡越暴利：五年躺赚10000%的美股策略_files/640 [1].png\\\" type=\\\"image/png\\\" data-filename=\\\"640.png\\\" style=\\\"--en-marks: %7B%22align%22%3A%22center%22%7D; background-color: transparent; width: auto;\\\" width=\\\"auto\\\"/></div><p style=\\\"box-sizing: border-box; color: black;\\\"><span><span style=\\\"color: rgb(255, 41, 65); font-weight: bold;\\\">Z-Score = (当前价差 - 历史平均价差) / 历史价差标准差</span></span></p><div style=\\\"text-align: center;\\\"><img src=\\\"越震荡越暴利：五年躺赚10000%的美股策略_files/640 [2].png\\\" type=\\\"image/png\\\" data-filename=\\\"640.png\\\" style=\\\"--en-marks: %7B%22align%22%3A%22center%22%7D; border-radius: 3px; background-color: transparent; width: auto;\\\" width=\\\"auto\\\"/></div><p style=\\\"box-sizing: border-box; color: black;\\\"><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span>Z-Score的魔力</span></strong><span>：</span></p><div style=\\\"box-sizing: border-box; color: black;\\\"><span style=\\\"box-sizing: border-box; text-align: left; color: rgb(1, 1, 1); font-weight: 500; text-indent: -1em; display: block;\\\"><span style=\\\"box-sizing: border-box;\\\"><span>•</span></span><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"color: rgb(255, 41, 65);\\\">Z=0</span></span></strong><span>：价差处于历史均值，市场回归到平衡状态。</span></span><span style=\\\"box-sizing: border-box; text-align: left; color: rgb(1, 1, 1); font-weight: 500; text-indent: -1em; display: block;\\\"><span style=\\\"box-sizing: border-box;\\\"><span>•</span></span><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"color: rgb(255, 41, 65);\\\">Z&gt;0</span></span></strong><span>：SPY相对QQQ强势，价差扩大。</span></span><span style=\\\"box-sizing: border-box; text-align: left; color: rgb(1, 1, 1); font-weight: 500; text-indent: -1em; display: block;\\\"><span style=\\\"box-sizing: border-box;\\\"><span>•</span></span><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"color: rgb(255, 41, 65);\\\">Z&lt;0</span></span></strong><span>：QQQ相对SPY强势，价差收窄。</span></span></div><h4 style=\\\"box-sizing: border-box; font-weight: bold; color: black;\\\"><span style=\\\"box-sizing: border-box;\\\"><span style=\\\"\\\"><span style=\\\"letter-spacing: 2px;\\\">步骤2：交易信号的黄金法则</span></span></span></h4><p style=\\\"box-sizing: border-box; color: black;\\\"><span style=\\\"letter-spacing: 2px;\\\"><span>为了使策略更加高效，我们设置了</span></span><span style=\\\"\\\"><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"letter-spacing: 2px;\\\">阈值（Threshold）</span></span></strong><span><span style=\\\"letter-spacing: 2px;\\\">来生成交易信号。经过回测验证，</span></span><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"letter-spacing: 2px;\\\">±1</span></span></strong><span><span style=\\\"letter-spacing: 2px;\\\">是SPY-QQQ的最佳阈值。</span></span></span></p><div style=\\\"text-align: center;\\\"><img src=\\\"越震荡越暴利：五年躺赚10000%的美股策略_files/640 [3].png\\\" type=\\\"image/png\\\" data-filename=\\\"640.png\\\" style=\\\"--en-marks: %7B%22align%22%3A%22center%22%7D; background-color: transparent; width: auto;\\\" width=\\\"auto\\\"/></div><p style=\\\"box-sizing: border-box; color: black;\\\"><span style=\\\"\\\"><span style=\\\"letter-spacing: 2px; color: rgb(255, 41, 65); font-weight: bold;\\\">当Z-Score ≤ -1时</span><span style=\\\"letter-spacing: 2px;\\\">：多头出击点（买入SPY/卖出QQQ）；价差严重偏低，科技股相对高估。</span></span></p><p style=\\\"box-sizing: border-box; color: black;\\\"><span style=\\\"\\\"><span style=\\\"letter-spacing: 2px; color: rgb(255, 41, 65); font-weight: bold;\\\">当Z-Score ≥ 1时</span><span style=\\\"letter-spacing: 2px;\\\">：空头出击点（卖出SPY/买入QQQ）；价差严重偏高，大盘股相对高估。</span></span></p><p style=\\\"box-sizing: border-box; color: black;\\\"><span style=\\\"letter-spacing: 2px;\\\"><span><span style=\\\"color: rgb(255, 41, 65); font-weight: bold;\\\">当Z-Score穿越零轴时</span>：完美平仓点（关键！）；价差回归均衡，锁定利润。</span></span></p><div style=\\\"text-align: center;\\\"><img src=\\\"越震荡越暴利：五年躺赚10000%的美股策略_files/640 [4].png\\\" type=\\\"image/png\\\" data-filename=\\\"640.png\\\" style=\\\"--en-marks: %7B%22align%22%3A%22center%22%7D; border-radius: 3px; background-color: transparent; width: auto;\\\" width=\\\"auto\\\"/></div><h4 style=\\\"box-sizing: border-box; font-weight: bold; color: black;\\\"><span style=\\\"box-sizing: border-box;\\\"><span style=\\\"\\\"><span style=\\\"letter-spacing: 2px;\\\">步骤3：头寸管理的艺术</span></span></span></h4><p style=\\\"box-sizing: border-box; color: black;\\\"><span style=\\\"letter-spacing: 2px;\\\"><span>在配对交易中，我们需要通过</span></span><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"letter-spacing: 2px; color: rgb(255, 41, 65);\\\">等美元价值对冲</span></span></strong><span style=\\\"letter-spacing: 2px;\\\"><span>来确保市场中性。即1美元的SPY多头对应1美元的QQQ空头，这样无论市场涨跌，策略都能保持稳定的收益。同时，我们还可以使用3倍杠杆ETF（如TQQQ/SQQQ）来放大收益，但需要配套动态止损策略，以控制风险。</span></span></p><h4 style=\\\"box-sizing: border-box; font-weight: bold; color: black;\\\"><span style=\\\"box-sizing: border-box;\\\"><span style=\\\"\\\"><span style=\\\"letter-spacing: 2px;\\\">步骤4：可视化——看见“看不见的利润”</span></span></span></h4><p style=\\\"box-sizing: border-box; color: black;\\\"><span style=\\\"letter-spacing: 2px;\\\"><span>通过可视化，我们可以清晰地看到策略如何在不同市场情境下发挥作用。</span></span></p><div style=\\\"text-align: center;\\\"><img src=\\\"越震荡越暴利：五年躺赚10000%的美股策略_files/640 [5].png\\\" type=\\\"image/png\\\" data-filename=\\\"640.png\\\" style=\\\"--en-marks: %7B%22align%22%3A%22center%22%7D; background-color: transparent; width: auto;\\\" width=\\\"auto\\\"/></div><p style=\\\"box-sizing: border-box; color: black;\\\"><span style=\\\"\\\"><span style=\\\"letter-spacing: 2px;\\\">通过这些图表，你可以看到：</span></span></p><div style=\\\"box-sizing: border-box; color: black;\\\"><span style=\\\"\\\"><span style=\\\"box-sizing: border-box; text-align: left; color: rgb(1, 1, 1); font-weight: 500; text-indent: -1em; display: block;\\\"><span style=\\\"box-sizing: border-box;\\\"><span style=\\\"letter-spacing: 2px;\\\"><span><span style=\\\"letter-spacing: 1px;\\\">•</span></span></span></span><span style=\\\"\\\"><span style=\\\"letter-spacing: 1px; color: rgb(255, 41, 65); font-weight: bold;\\\">在2020年3月疫情崩盘时，</span><span style=\\\"letter-spacing: 1px; font-weight: bold;\\\">我们捕捉到了极端的价差机会。</span></span></span><span style=\\\"box-sizing: border-box; text-align: left; color: rgb(1, 1, 1); font-weight: 500; text-indent: -1em; display: block;\\\"><span style=\\\"box-sizing: border-box;\\\"><span><span style=\\\"letter-spacing: 1px;\\\">•</span></span></span><span><span style=\\\"letter-spacing: 1px; color: rgb(255, 41, 65); font-weight: bold;\\\">在2021年科技股泡沫期间，</span><span style=\\\"letter-spacing: 1px; font-weight: bold;\\\">多次触发了空头信号。</span></span></span></span><span style=\\\"box-sizing: border-box; text-align: left; color: rgb(1, 1, 1); font-weight: 500; text-indent: -1em; display: block;\\\"><span style=\\\"box-sizing: border-box;\\\"><span><span style=\\\"letter-spacing: 1px;\\\">•</span></span></span><span style=\\\"letter-spacing: 2px;\\\"><span style=\\\"\\\"><span style=\\\"letter-spacing: 1px; color: rgb(255, 41, 65); font-weight: bold;\\\">在2022年加息周期内，</span><span style=\\\"letter-spacing: 1px; font-weight: bold;\\\">策略精准把握了市场波动节奏。</span></span></span></span></div><h3 style=\\\"box-sizing: border-box; font-weight: bold; color: black; font-size: 20px;\\\"><span style=\\\"box-sizing: border-box;\\\"><span style=\\\"\\\"><span style=\\\"letter-spacing: 2px; color: rgb(0, 82, 255);\\\">三、百倍回报的惊人真相</span></span></span></h3><p style=\\\"box-sizing: border-box; color: black;\\\"><span style=\\\"\\\"><span style=\\\"letter-spacing: 1px;\\\">经过2020-2025年的回测，我们得到了令人震惊的回报数据：</span></span></p><div style=\\\"text-align: center;\\\"><img src=\\\"越震荡越暴利：五年躺赚10000%的美股策略_files/640 [3].jpg\\\" type=\\\"image/jpeg\\\" data-filename=\\\"640.jpg\\\" style=\\\"--en-marks: %7B%22align%22%3A%22center%22%7D; border-radius: 3px; background-color: transparent; width: auto;\\\" width=\\\"auto\\\"/></div><p style=\\\"box-sizing: border-box; color: black;\\\"><span style=\\\"\\\"><span style=\\\"letter-spacing: 2px;\\\">下图显示了策略的利润随时间变化的趋势，体现了策略如何从2020年开始稳步增长，并最终实现了显著的正向回报。</span><span style=\\\"letter-spacing: 2px; font-weight: bold;\\\">策略的累积利润表现出持续增长，尤其是在后期市场波动较大时。总回报达到10085.00%</span><span style=\\\"letter-spacing: 2px;\\\">，这表明策略不仅能够应对市场的不确定性，还能从其中汲取稳定收益。即使在经历了大幅波动的市场环境下（例如2020年疫情爆发和2022年加息周期），</span><span style=\\\"letter-spacing: 2px; font-weight: bold;\\\">策略依然能够保持强劲的盈利能力。</span></span><span style=\\\"letter-spacing: 2px;\\\"><span><span style=\\\"color: rgb(0, 82, 255); font-weight: bold;\\\">本文策略完整代码请在文末下载。</span></span></span></p><div style=\\\"text-align: center;\\\"><img src=\\\"越震荡越暴利：五年躺赚10000%的美股策略_files/640 [6].png\\\" type=\\\"image/png\\\" data-filename=\\\"640.png\\\" style=\\\"--en-marks: %7B%22align%22%3A%22center%22%7D; background-color: transparent; width: auto;\\\" width=\\\"auto\\\"/></div><p style=\\\"box-sizing: border-box; color: black;\\\"><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"letter-spacing: 2px;\\\">回测部分代码片段</span></span></strong><span><span style=\\\"letter-spacing: 2px;\\\">：</span></span></p><div style=\\\"text-align: center;\\\"><img src=\\\"越震荡越暴利：五年躺赚10000%的美股策略_files/640 [7].png\\\" type=\\\"image/png\\\" data-filename=\\\"640.png\\\" style=\\\"--en-marks: %7B%22align%22%3A%22center%22%7D; border-radius: 6px; background-color: transparent; width: auto;\\\" width=\\\"auto\\\"/></div><h3 style=\\\"box-sizing: border-box; font-weight: bold; color: black; font-size: 20px;\\\"><span style=\\\"box-sizing: border-box;\\\"><span style=\\\"\\\"><span style=\\\"letter-spacing: 2px; color: rgb(0, 82, 255);\\\">四、策略优势：波动的力量</span></span></span></h3><p style=\\\"box-sizing: border-box; color: black;\\\"><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span style=\\\"letter-spacing: 2px;\\\"><span><span style=\\\"color: rgb(255, 41, 65);\\\">风险天然对冲</span></span></span></strong><span style=\\\"\\\"><span><span style=\\\"letter-spacing: 2px;\\\">与</span></span><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"letter-spacing: 2px; color: rgb(255, 41, 65);\\\">波动即盈利</span></span></strong><span><span style=\\\"letter-spacing: 2px;\\\">构成了策略的攻防双翼。通过同时建立SPY多头和QQQ空头（或反之），策略实现了真正的市场中性——</span><span style=\\\"letter-spacing: 2px; font-weight: bold;\\\">当2022年标普500暴跌19%时，该策略反而盈利27%，完美诠释&quot;熊市也能盈利&quot;的魔力</span><span style=\\\"letter-spacing: 2px;\\\">。更精妙的是，</span></span><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"letter-spacing: 2px; color: rgb(255, 41, 65);\\\">市场波动越大，盈利机会越多</span></span></strong><span><span style=\\\"letter-spacing: 2px;\\\">：</span><span style=\\\"letter-spacing: 2px; font-weight: bold;\\\">2020年疫情崩盘期间价差波动率达平时的3倍，策略单月捕获11次交易机会</span><span style=\\\"letter-spacing: 2px;\\\">，这正是&quot;乱世显锋芒&quot;的量化策略。而</span></span><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"letter-spacing: 2px;\\\">统计规律稳定</span></span></strong><span><span style=\\\"letter-spacing: 2px;\\\">则提供了坚实后盾：</span><span style=\\\"letter-spacing: 2px; font-weight: bold;\\\">SPY-QQQ十年相关系数高达0.92，价差均值回归概率超过85%，犹如内置了市场自然法则的GPS</span><span style=\\\"letter-spacing: 2px;\\\">。最后，</span></span><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"letter-spacing: 2px;\\\">杠杆友好型</span></span></strong><span><span style=\\\"letter-spacing: 2px;\\\">设计让收益如虎添翼，搭配3倍杠杆ETF（TQQQ/SQQQ）可使年化收益突破400%。</span></span></span></p><h3 style=\\\"box-sizing: border-box; font-weight: bold; color: black; font-size: 20px;\\\"><span style=\\\"box-sizing: border-box;\\\"><span style=\\\"\\\"><span style=\\\"letter-spacing: 2px; color: rgb(0, 82, 255);\\\">五、实战启示：你也能成为量化高手</span></span></span></h3><p style=\\\"box-sizing: border-box; color: black;\\\"><span style=\\\"letter-spacing: 2px;\\\"><span>传奇数学家詹姆斯·西蒙斯曾说：“</span></span><span style=\\\"\\\"><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"letter-spacing: 2px; color: rgb(255, 41, 65);\\\">市场中存在数学之美，关键在于发现隐藏的模式</span></span></strong><span><span style=\\\"letter-spacing: 2px; color: rgb(255, 41, 65);\\\">。</span><span style=\\\"letter-spacing: 2px;\\\">”</span></span></span></p><p style=\\\"box-sizing: border-box; color: black;\\\"><span style=\\\"\\\"><span style=\\\"letter-spacing: 2px;\\\">配对交易正是这一理念的完美体现——它把看似无序的市场波动转化为可量化的统计规律。无论你是：</span></span></p><div style=\\\"box-sizing: border-box; color: black;\\\"><span style=\\\"\\\"><span style=\\\"box-sizing: border-box; text-align: left; color: rgb(1, 1, 1); font-weight: 500; text-indent: -1em; display: block;\\\"><span style=\\\"box-sizing: border-box;\\\"><span><span style=\\\"letter-spacing: 2px;\\\">•</span></span></span><span><span style=\\\"letter-spacing: 2px;\\\">寻求稳健收益的</span></span><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"letter-spacing: 2px;\\\">长期投资者</span></span></strong></span><span style=\\\"box-sizing: border-box; text-align: left; color: rgb(1, 1, 1); font-weight: 500; text-indent: -1em; display: block;\\\"><span style=\\\"box-sizing: border-box;\\\"><span><span style=\\\"letter-spacing: 2px;\\\">•</span></span></span><span><span style=\\\"letter-spacing: 2px;\\\">追逐杠杆回报的</span></span><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"letter-spacing: 2px;\\\">激进交易者</span></span></strong></span><span style=\\\"box-sizing: border-box; text-align: left; color: rgb(1, 1, 1); font-weight: 500; text-indent: -1em; display: block;\\\"><span style=\\\"box-sizing: border-box;\\\"><span><span style=\\\"letter-spacing: 2px;\\\">•</span></span></span><span><span style=\\\"letter-spacing: 2px;\\\">配置多策略的量化</span></span><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"letter-spacing: 2px;\\\">基金经理</span></span></strong></span></span></div><p style=\\\"box-sizing: border-box; color: black;\\\"><span style=\\\"\\\"><span><span style=\\\"letter-spacing: 2px;\\\">这套基于SPY-QQQ的配对交易策略都能成为你投资组合中的</span></span><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"letter-spacing: 2px;\\\">核心工具</span></span></strong><span><span style=\\\"letter-spacing: 2px;\\\">。</span></span></span></p><p style=\\\"box-sizing: border-box; color: black;\\\"><span style=\\\"\\\"><span><span style=\\\"letter-spacing: 2px;\\\">当所有人都在预测明天的涨跌时，</span></span><strong style=\\\"box-sizing: border-box; font-weight: bold;\\\"><span><span style=\\\"letter-spacing: 2px; color: rgb(255, 41, 65);\\\">真正聪明的钱正在通过资产间的相对波动中默默获利</span></span></strong></span><span style=\\\"letter-spacing: 2px;\\\"><span>——这就是配对交易的精髓所在。<span style=\\\"color: rgb(0, 82, 255); font-weight: bold;\\\">请扫码加入宽客邦量化俱乐部获取本文完整代码。</span></span></span></p><div style=\\\"text-align: center;\\\"><img src=\\\"越震荡越暴利：五年躺赚10000%的美股策略_files/640 [4].jpg\\\" type=\\\"image/jpeg\\\" data-filename=\\\"640.jpg\\\" style=\\\"--en-marks: %7B%22align%22%3A%22center%22%7D; border-radius: 3px; background-color: transparent; width: auto;\\\" width=\\\"auto\\\"/></div><p style=\\\"box-sizing: border-box; color: black; text-align: center;\\\"><strong style=\\\"\\\"><strong style=\\\"\\\"><span style=\\\"\\\"><span style=\\\"\\\"><span style=\\\"letter-spacing: 2px;\\\">点击阅读原文加入</span></span></span></strong></strong><strong style=\\\"\\\"><strong style=\\\"\\\"><strong style=\\\"\\\"></strong></strong></strong><span style=\\\"\\\"><strong style=\\\"\\\"><span style=\\\"\\\"><span style=\\\"\\\"><span style=\\\"\\\"><span style=\\\"letter-spacing: 2px; color: rgb(0, 82, 255);\\\">宽客邦量化俱乐部</span></span></span></span></strong></span></p></div></div></div><div><div><div><div style=\\\"display: flex;\\\"><a>阅读原文</a></div></div></div></div></div></div></div></span>\\\n</div></body></html>\\u0000\"]],\"start1\":0,\"start2\":0,\"length1\":0,\"length2\":21591}]"
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