策略化选股月报（2026/02）：2026年开年市场情绪持续回暖，科创策略、情绪价量收益显著-20260203

Market Overview - In January 2026, the overall A-share market experienced an increase, with the CSI 300 index rising by 1.65%, the CSI 1000 by 8.68%, the CSI 500 by 12.12%, and the ChiNext by 4.47% [15][16] - The top three performing sectors were non-ferrous metals, media, and oil and petrochemicals, while banking, transportation, and non-bank financial sectors saw declines [15] Multi-Strategy Stock Selection - The multi-strategy stock selection strategy achieved an absolute return of 8.16% in January 2026, with a relative excess return of 2.29% compared to the CSI All Share Index [3][32] - The strategy's weight allocation as of February 2026 showed the highest allocation to value stocks at approximately 45.00%, while growth stocks had the lowest allocation at about 7.60% [3][21] - The strategy's portfolio included 49 stocks, with an average market capitalization of 1384.85 billion, concentrated in real estate, electricity, public utilities, and media sectors [25][31] Extreme Style High Beta Stock Selection - The extreme style high beta stock selection strategy had the highest weight in large-cap value stocks at 72.09%, with the lowest in large-cap growth stocks at 12.91% [4][50] - The strategy's absolute return in January 2026 was 4.14%, with a relative excess return of -1.51% compared to the CSI All Share Index [4][20] "Dividend +" Preferred Stock Strategy - The "Dividend +" preferred stock strategy achieved an absolute return of 2.81% in January 2026, with a relative excess return of -2.78% compared to the CSI All Share Index [5][20] - The strategy's portfolio consisted of 30 stocks, with an average market capitalization of 1104.10 billion, primarily in banking and retail sectors, accounting for 60.00% of the portfolio [5] Moving Average Trend Strategy - The moving average trend strategy recorded an absolute return of 6.83% in January 2026, with a relative excess return of 1.02% compared to the CSI All Share Index [6][20] - The strategy's portfolio included 30 stocks, mainly in the oil, petrochemical, and telecommunications sectors, with a weight of 50.21% [6] Sentiment Price-Volume Strategy - The sentiment price-volume strategy's top 50 combination achieved an absolute return of 10.14% in January 2026, with a relative excess return of 4.15% compared to the CSI All Share Index [6] - The strategy's portfolio was concentrated in the machinery and electronics sectors, accounting for 24% and 20% respectively [6] Sci-Tech Innovation Board Strategy - The Sci-Tech Innovation Board strategy achieved an absolute return of 12.50% in January 2026, with a relative excess return of 0.19% compared to the Sci-Tech 50 Index [7] - The strategy's portfolio included 30 stocks, primarily in the electronics sector, with a weight of 49.90% [7]