热点追踪周报：由创新高个股看市场投资热点（第185期）-2025-03-14

• The report tracks stocks, industries, and sectors that have reached new highs, indicating market trends and hot spots[10] - The calculation method for the 250-day new high distance is: $ 250 \text{ day new high distance} = 1 - \frac{\text{Close}_t}{\text{ts_max(Close, 250)}} $ where $\text{Close}_t$ is the latest closing price and $\text{ts_max(Close, 250)}$ is the maximum closing price in the past 250 trading days[10] - As of March 14, 2025, the 250-day new high distances for major indices are: Shanghai Composite Index 2.01%, Shenzhen Component Index 4.50%, CSI 300 5.86%, CSI 500 3.64%, CSI 1000 0.12%, CSI 2000 0.08%, ChiNext Index 12.69%, STAR 50 Index 3.44%[11] - The 250-day new high distances for CITIC first-level industry indices are: Non-ferrous metals 0.00%, Banking 0.00%, Steel 0.54%, Automotive 0.04%, Machinery 0.78%[12] - The 250-day new high distances for concept indices are: Convertible bond stocks, Energy storage, Wind All A equal weight, Banking, Wind micro-cap stocks daily equal weight, New energy vehicles[14] - As of March 14, 2025, 1012 stocks have reached new 250-day highs in the past 20 trading days, with the highest numbers in the Machinery, Electronics, and Computer industries[18] - The highest proportions of new high stocks are in the Automotive, Computer, and Communication industries[18] - By sector, the highest numbers of new high stocks are in the Technology and Manufacturing sectors[19] - By index, the proportions of new high stocks are: CSI 2000 22.65%, CSI 1000 20.10%, CSI 500 14.80%, CSI 300 14.33%, ChiNext Index 19.00%, STAR 50 Index 28.00%[19] - The report selects 31 stable new high stocks based on analyst attention, relative stock strength, trend continuity, stock price path stability, and new high sustainability[22][24] - The selected stable new high stocks are mainly in the Manufacturing and Technology sectors, with the highest numbers in the Automotive and Electronics industries[25] Model and Factor Construction - Model Name: 250-day new high distance - Construction Idea: Track stocks, industries, and sectors that have reached new highs to indicate market trends and hot spots[10] - Construction Process: - Formula: $ 250 \text{ day new high distance} = 1 - \frac{\text{Close}_t}{\text{ts_max(Close, 250)}} $ - Explanation: $\text{Close}_t$ is the latest closing price, $\text{ts_max(Close, 250)}$ is the maximum closing price in the past 250 trading days[10] - Evaluation: Effective in tracking market trends and identifying hot spots[10] Model Testing Results - 250-day new high distance for major indices: - Shanghai Composite Index: 2.01%[11] - Shenzhen Component Index: 4.50%[11] - CSI 300: 5.86%[11] - CSI 500: 3.64%[11] - CSI 1000: 0.12%[11] - CSI 2000: 0.08%[11] - ChiNext Index: 12.69%[11] - STAR 50 Index: 3.44%[11] - 250-day new high distance for CITIC first-level industry indices: - Non-ferrous metals: 0.00%[12] - Banking: 0.00%[12] - Steel: 0.54%[12] - Automotive: 0.04%[12] - Machinery: 0.78%[12] - 250-day new high distance for concept indices: - Convertible bond stocks, Energy storage, Wind All A equal weight, Banking, Wind micro-cap stocks daily equal weight, New energy vehicles[14] Factor Construction - Factor Name: Stable new high stocks - Construction Idea: Select stocks that have reached new highs based on various criteria to track market trends and identify hot spots[22][24] - Construction Process: - Analyst attention: At least 5 buy or hold ratings in the past 3 months[24] - Relative stock strength: Top 20% in market performance over the past 250 days[24] - Stock price path stability: Comprehensive scoring using price path smoothness and new high sustainability[24] - Trend continuity: Top 50 stocks based on the average 250-day new high distance over the past 5 days[24] - Evaluation: Effective in identifying stable new high stocks and tracking market trends[22][24] Factor Testing Results - Stable new high stocks: - Selected stocks: 31[25] - Highest numbers in Manufacturing and Technology sectors[25] - Highest numbers in Automotive and Electronics industries[25]