In November, the market continued to fluctuate, and small cap stocks performed better.
In November 2021, the A-share market continued to fluctuate in the overall range, the market style differentiation was still obvious, and small cap stocks performed well. Among the main broad-based indexes, the CSI 1000 and Kechuang 50 indexes increased by 9.06% and 5.70% respectively, with the best performance. In the same period, the Shanghai 50 and CSI 100 indexes decreased by 3.12% and 2.93% respectively, with relatively poor performance.
From the performance of the four style indexes of finance, cycle, consumption and growth, the financial sector fell 2.77% in November, the worst performance, and the growth style index rose 3.86% in the same period, the best performance.
From the performance of Shenwan style series index, the new share index and small cap index rose by 8.79% and 7.67% respectively in November, with the best performance, and the blue chip index and low P / E index fell by 2.39% and 2.05% respectively in the same period.
In December, it is suggested to pay attention to non-ferrous metals, chemical industry, national defense and military industry, mining, electronics, electrical equipment and other industries.
Combined with meso and micro information, we build an industry rotation model for monthly warehouse adjustment. The industries recommended in the model in November include non-ferrous metals, electrical equipment, food and beverage, transportation, chemical industry, banking and other industries. As of November 30, 2021, the overall industry portfolio rose by 1.46%, the industry equal weight index rose by 2.18% in the same period, and the industry portfolio lost 0.71%.
In 2020, the industry rotation portfolio increased by 52.08% in total, the industry equal weight index increased by 22.35% in the same period, and the industry portfolio exceeded 29.74% in total. Since this year, the industry rotation portfolio has increased by 14.43%, the industry equal weight index has increased by 6.41% over the same period, and the industry portfolio has exceeded 8.02%.
The industry rotation model integrates different dimensions of information such as industry prosperity, analysts’ expected changes, capital flow and micro transaction structure for comprehensive judgment. According to the latest data at the end of November 2021, the model suggests that the industries to be focused in December 2021 include non-ferrous metals, chemical industry, national defense and military industry, mining, electronics, electrical equipment, etc.
Risk tips:
The quantitative model is calculated based on historical data, and there may be failure risk in the future.
