中银量化选股投资价值分析：对标股基指数的新选择

• The quantitative model "Bank of China Quantitative Stock Selection" achieved an excess return of 3.18% relative to the Wind Partial Equity Hybrid Fund Index in 2025, with a relative maximum drawdown of only 4.13%, an annualized tracking error of 5.44%, an IR of 0.49, and a return-drawdown ratio of 0.77[2][23][24] - The model demonstrated strong risk management capabilities, with a rolling 3-month annualized tracking error averaging only 5.26% in 2025, and a daily return correlation coefficient with the benchmark index averaging 0.96, indicating stable operations targeting the median of active equity funds[25][26][27] - The model ranked in the top 50% of all active equity funds for most of 2025 in terms of cumulative returns, showcasing its ability to consistently generate stable excess returns[27][29][31] - The return-drawdown ratio of the model ranked in the top 30% of the market (1072/3588), and its relative maximum drawdown ranked in the top 0.5% of all active equity funds (21/3588), reflecting strong drawdown control capabilities[29][30][31]