风格轮动策略周报：当下价值、成长的赔率和胜率几何？-2025-04-06

Group 1 - The report introduces a quantitative model solution for addressing the value-growth style switching issue based on odds and win rates [1][8] - The overall market growth style portfolio had a return of -0.55%, while the value style portfolio had a return of 0.18% in the last week [8] Group 2 - The estimated odds for the growth style is 1.01, while for the value style it is 1.03, indicating a negative correlation between relative valuation levels and expected odds [2][14] - The current win rate for the growth style is 31.12%, and for the value style, it is 68.88%, based on seven win rate indicators [3][17] Group 3 - The latest investment expectations calculated show a growth style expectation of -0.38 and a value style expectation of 0.40, leading to a recommendation for the value style [4][18] - Since 2013, the annualized return of the style rotation model based on investment expectations is 26.73%, with a Sharpe ratio of 0.98 [4][19]