本周热度变化最大行业为通信、食品饮料：市场情绪监控周报（20251201-20251205）-20251207

• The report introduces a "Total Heat Index" indicator, which is defined as the sum of browsing, self-selection, and click counts of individual stocks, normalized by their market share on the same day, and then multiplied by 10,000. The value range of this indicator is [0, 10,000][7] - The "Total Heat Index" is aggregated at broader levels such as broad-based indices, industries, and concepts, serving as a proxy variable for "sentiment heat" to track market sentiment[7] - A simple rotation strategy is constructed based on the weekly heat change rate (MA2) of broad-based indices. The strategy involves buying the broad-based index with the highest heat change rate on the last trading day of each week. If the "Other" group has the highest change rate, the strategy remains in cash. The annualized return of this strategy since 2017 is 8.74%, with a maximum drawdown of 23.5%, and a return of 31.4% in 2025[13][16] - For concept-level heat, two portfolios are constructed: 1. A "TOP" portfolio selects the top 10 stocks with the highest total heat from the five concepts with the largest heat change rates each week, excluding the bottom 20% of stocks by market capitalization 2. A "BOTTOM" portfolio selects the bottom 10 stocks with the lowest total heat from the same concepts. The "BOTTOM" portfolio has achieved an annualized return of 15.71%, a maximum drawdown of 28.89%, and a return of 40.2% in 2025[29][31] - The heat change rate (MA2) of the "Other" group increased by 1.54% compared to the previous week, while the CSI 1000 index had the lowest change rate, decreasing by 1.98%[16][18] - The report highlights that high-heat concepts often experience rapid price adjustments due to behavioral factors, with the highest-attention stocks in these concepts reacting most quickly in the short term[29]