中银量化大类资产跟踪

• The report does not contain any specific quantitative models or factors for analysis[1][2][3] - The report primarily focuses on market trends, style performance, valuation metrics, and fund flows without detailing any quantitative model construction or factor definitions[26][37][122] - Style performance metrics such as "growth vs dividend," "small-cap vs large-cap," and "momentum vs reversal" are discussed, but no explicit quantitative factor construction or formulas are provided[26][37][123] - The report includes historical valuation and performance metrics for indices and sectors, but these are descriptive statistics rather than outputs of specific quantitative models[62][70][80] - The methodology for calculating style crowding and cumulative excess returns is briefly mentioned in the appendix, but no detailed quantitative model or factor construction process is elaborated[122][123]