{"id":740609,"date":"2026-03-09T20:16:40","date_gmt":"2026-03-09T12:16:40","guid":{"rendered":"https:\/\/www.alphaseek.cn\/?p=740609"},"modified":"2026-03-09T20:16:40","modified_gmt":"2026-03-09T12:16:40","slug":"%e5%85%a8%e7%ba%bf%e8%b7%b3%e6%b0%b4%ef%bc%81%e6%81%90%e6%85%8c%e6%8c%87%e6%95%b0%e9%a3%99%e5%8d%87%ef%bc%81%e7%be%8e%e8%82%a1%e7%aa%81%e4%bc%a0%e5%88%a9%e7%a9%ba%ef%bc%81","status":"publish","type":"post","link":"https:\/\/www.alphaseek.cn\/?p=740609","title":{"rendered":"\u5168\u7ebf\u8df3\u6c34\uff01\u6050\u614c\u6307\u6570\u98d9\u5347\uff01\u7f8e\u80a1\u7a81\u4f20\u5229\u7a7a\uff01"},"content":{"rendered":"

\u7f8e\u80a1\u6050\u614c\u6307\u6570\uff0c\u518d\u5ea6\u98d9\u6da8\uff01<\/p>\n

3\u67089\u65e5\uff0c\u7f8e\u80a1\u6050\u614c\u6307\u6570VIX<\/a>\u4e00\u5ea6\u98d9\u5347\u8fd120%\u81f335.30\u70b9\uff0c\u521b2025\u5e744\u6708\u4ee5\u6765\u65b0\u9ad8\u3002\u7f8e\u80a1\u4e09\u5927\u80a1\u6307\u671f\u8d27<\/a><\/span><\/span>\u8dcc\u5e45\u5747\u4e00\u5ea6\u8d85\u8fc72%\u3002\u6b27\u6d32<\/a>\u4e3b\u8981\u80a1\u6307\u5f00\u76d8\u96c6\u4f53\u5927\u5e45\u4e0b\u8dcc\uff0c\u622a\u81f3\u53d1\u7a3f\uff0c\u6cd5\u56fdCAC40\u6307\u6570\u3001\u6b27\u6d32\u65af\u6258\u514b50\u6307\u6570\u3001\u82f1\u56fd\u5bcc\u65f6250\u6307\u6570\u3001\u6bd4\u5229\u65f6BFX\u6307\u6570\u3001\u745e\u5178OMXSPI\u6307\u6570\u8dcc\u5e45\u5747\u8d85\u8fc72%\uff0c\u5fb7\u56fdDAX30\u6307\u6570\u8dcc1.80%\u3002<\/p>\n

\u534e\u5c14\u8857<\/a>\u8d44\u6df1\u7b56\u7565<\/a>\u5e08\u3001\u6295\u8d44<\/a>\u54a8\u8be2\u516c\u53f8Yardeni Research\u521b\u59cb\u4ebaEd Yarden\u8868\u793a\uff0c\u968f\u7740\u4f0a\u6717\u5c40\u52bf\u5347\u7ea7\u5bf9\u5168\u7403\u5e02\u573a\u9020\u6210\u51b2\u51fb\uff0c\u7f8e\u80a1\u4eca\u5e74\u9762\u4e34\u6025\u5267\u629b\u552e\u7684\u98ce\u9669<\/a>\u6b63\u5728\u4e0a\u5347\u3002Yardeni\u5c06\u4eca\u5e74\u5269\u4f59\u65f6\u95f4\u7f8e\u80a1\u5e02\u573a\u5d29\u76d8\u7684\u6982\u7387\u4ece20%\u4e0a\u8c03\u81f335%\u3002<\/p>\n

\u7f8e\u80a1\u201c\u6050\u614c\u201d<\/strong><\/p>\n

\u4eca\u65e5\u76d8\u4e2d\uff0c\u7f8e\u80a1\u6050\u614c\u6307\u6570VIX\u4e00\u5ea6\u4e0a\u6da85.81\u70b9\u81f335.30\u70b9\uff0c\u4e3a2025\u5e744\u6708\u4ee5\u6765\u7684\u6700\u9ad8\u6c34\u5e73\uff0c\u65e5\u5185\u6da8\u5e45\u4e00\u5ea6\u9ad8\u8fbe19.70%\u3002\u622a\u81f3\u53d1\u7a3f\uff0cVIX\u6307\u6570\u6da8\u5e45\u6536\u7a84\u81f39%\u3002\u800c\u6b64\u524d\u4e00\u4e2a\u4ea4\u6613\u65e5\uff0cVIX\u6307\u6570\u5df2\u66b4\u6da8\u8d8524%\u3002<\/p>\n

\u80fd\u6e90<\/a>\u5e02\u573a\u662f\u6b64\u8f6e\u6ce2\u52a8\u7684\u6838\u5fc3\u9a71\u52a8\u529b<\/a><\/span><\/span>\u3002\u53d7\u4f0a\u6717\u5c40\u52bf\u5347\u7ea7\u53ca\u970d\u5c14\u6728\u5179\u6d77\u5ce1\u822a\u8fd0<\/a><\/span><\/span>\u901a\u9053\u6301\u7eed\u5173\u95ed\u5f71\u54cd\uff0c\u591a\u56fd\u5ba3\u5e03\u524a\u51cf\u4ea7\u91cf\uff0c\u5bfc\u81f4\u539f\u6cb9\u4ef7\u683c\u98d9\u5347\u3002\u5468\u4e00\u76d8\u4e2d\uff0cWTI\u539f\u6cb9\u671f\u8d27<\/span>\u4e00\u5ea6\u66b4\u6da8\u8d8530%\uff0c\u6700\u9ad8\u89e6\u53ca119\u7f8e\u5143\/\u6876\uff0c\u4e3a2022\u5e746\u6708\u4ee5\u6765\u65b0\u9ad8\u3002\u622a\u81f3\u53d1\u7a3f\uff0cWTI\u539f\u6cb9\u6da8\u5e45\u6536\u7a84\u81f313%\u3002<\/p>\n

\u539f\u6cb9\u4ef7\u683c\u98d9\u5347\uff0c\u52a0\u5267\u7f8e\u56fd<\/a>\u7684\u901a\u80c0<\/a>\u62c5\u5fe7\uff0c\u5e02\u573a\u666e\u904d\u9884\u8ba1\u7f8e\u8054\u50a8<\/a>\u5c06\u5728\u66f4\u957f\u65f6\u95f4\u5185\u7ef4\u6301\u5229\u7387\u4e0d\u53d8\uff0c\u751a\u81f3\u53ef\u80fd\u518d\u5ea6\u52a0\u606f<\/a>\u3002<\/p>\n

\u4eca\u65e5\u76d8\u4e2d\uff0c\u7f8e\u56fd\u4e09\u5927\u80a1\u6307\u671f\u8d27<\/span>\u8dcc\u5e45\u5747\u4e00\u5ea6\u8d85\u8fc72%\u3002\u622a\u81f3\u53d1\u7a3f\uff0c\u7f8e\u80a1\u4e09\u5927\u80a1\u6307\u671f\u8d27<\/a>\u8dcc\u5e45\u4ecd\u8d85\u8fc71%\u3002\u800c\u4e0a\u5468\uff0c\u9053\u6307\u7d2f\u8ba1\u4e0b\u8dcc\u7ea63%\uff0c\u521b\u4e0b\u81ea2025\u5e744\u6708\u4ee5\u6765\u6700\u5267\u70c8\u7684\u5355\u5468\u8dcc\u5e45\uff0c\u6807\u666e500\u6307\u6570\u4e0b\u6ed1\u7ea62%\uff0c\u7eb3\u65af\u8fbe\u514b<\/a><\/span><\/span>\u7efc\u5408<\/a><\/span><\/span>\u6307\u6570\u8dcc\u8d851%\u3002<\/p>\n

\u6295\u8d44\u8005\u5c06\u5bc6\u5207\u5173\u6ce8\u672c\u5468\u4e09\u516c\u5e03\u7684\u6d88\u8d39\u8005\u4ef7\u683c\u6307\u6570\u4e0e\u5468\u4e94\u7684\u4e2a\u4eba\u6d88\u8d39\u652f\u51fa\u4ef7\u683c\u6307\u6570\uff0c\u4f46\u8fd9\u4e24\u9879\u6570\u636e\u5747\u5c1a\u672a\u53cd\u6620\u8fd1\u671f\u6cb9\u4ef7\u98d9\u5347\u5bf9\u4ef7\u683c\u538b\u529b\u7684\u5f71\u54cd\u3002<\/p>\n

\u5728\u4f01\u4e1a\u8d22\u62a5\u65b9\u9762\uff0c\u60e0\u4e0e\u516c\u53f8\u5c06\u4e8e\u5468\u4e00\u6536\u76d8\u540e\u516c\u5e03\u4e1a\u7ee9<\/a>\uff0c\u7532\u9aa8\u6587<\/a><\/span><\/span>\u3001Adobe\u53ca\u8fea\u514b\u4f53\u80b2\u7528\u54c1<\/a><\/span><\/span>\u7684\u8d22\u62a5\u4e5f\u5c06\u4e8e\u672c\u5468\u9646\u7eed\u53d1\u5e03\u3002<\/p>\n

\u5bf9\u51b2\u57fa\u91d1<\/a>\u52a0\u7801\u505a\u7a7a<\/a><\/strong><\/p>\n

\u8fd1\u671f\u4e2d\u4e1c\u7d27\u5f20\u5c40\u52bf\u6301\u7eed\u5347\u7ea7\u4e14\u672a\u89c1\u7f13\u548c\u8ff9\u8c61\uff0c\u4fc3\u4f7f\u77ed\u7ebf\u6295\u8d44\u8005\uff08\u5e38\u88ab\u79f0\u4e3a\u201c\u5feb\u94b1\u6295\u8d44\u8005\u201d\uff09\u663e\u8457\u52a0\u5927\u4e86\u5bf9\u7f8e\u56fd\u80a1\u5e02\u4e0b\u8dcc\u7684\u62bc\u6ce8\uff0c\u9884\u671f\u5e02\u573a\u5c06\u9762\u4e34\u8fdb\u4e00\u6b65\u4e0b\u884c\u538b\u529b\u3002<\/p>\n

\u6839\u636e\u9ad8\u76db<\/a><\/span><\/span>\u96c6\u56e2\u4e3b\u8981\u7ecf\u7eaa\u4e1a\u52a1\u90e8\u95e8\u6c47\u7f16\u7684\u6570\u636e\uff0c\u5728\u622a\u81f33\u67086\u65e5\u7684\u4e00\u5468\u5185\uff0c\u5bf9\u51b2\u57fa\u91d1\u5c06\u5176\u6301\u6709\u7684\u80a1\u7968\u578b\u4ea4\u6613\u6240\u4ea4\u6613\u57fa\u91d1\uff08ETF\uff09\u7684\u7a7a\u5934\u5934\u5bf8\u63d0\u5347\u4e868.3%\u3002\u8fd9\u4e00\u90e8\u7f72\u770b\u8dcc\u62bc\u6ce8\u7684\u901f\u5ea6\uff0c\u5728\u8fc7\u53bb\u4e94\u5e74\u4e2d\u4ec5\u51fa\u73b0\u8fc7\u4e00\u6b21\u8d85\u8d8a\u5f53\u524d\u6c34\u5e73\u7684\u60c5\u51b5\u3002<\/p>\n

\u4e2d\u4e1c\u51b2\u7a81\u52a0\u5267\uff0c\u5f15\u53d1\u5e02\u573a\u5bf9\u6cb9\u4ef7\u98d9\u5347\u53ca\u901a\u80c0\u62ac\u5934\u7684\u62c5\u5fe7\uff0c\u5bfc\u81f4\u6295\u8d44\u8005\u5bf9\u7f8e\u56fd\u80a1\u5e02\u7684\u6574\u4f53\u5174\u8da3\u51cf\u5f31\u3002\u7136\u800c\uff0c\u8fd9\u4e9b\u77ed\u7ebf\u8d44\u91d1\u5e76\u672a\u5b8c\u5168\u64a4\u79bb\u7f8e\u56fd\u80a1\u5e02\u3002\u6570\u636e\u663e\u793a\uff0c\u5bf9\u51b2\u57fa\u91d1\u5728\u4e94\u5468\u4ee5\u6765\u9996\u6b21\u589e\u52a0\u4e86\u5bf9\u5355\u53ea\u80a1\u7968\u7684\u6301\u4ed3\u3002\u8fd9\u8868\u660e\u57fa\u91d1\u7ba1\u7406\u4eba\u867d\u5bf9\u6574\u4f53\u5e02\u573a\u6301\u8c28\u614e\u6001\u5ea6\uff0c\u4f46\u540c\u65f6\u6b63\u79ef\u6781\u5728\u4e2a\u80a1\u5c42\u9762\u5bfb\u627e\u9022\u4f4e\u5438\u7eb3\u7684\u673a\u4f1a\u3002<\/p>\n

\u9ad8\u76db<\/a><\/span>\u8463\u4e8b\u603b\u7ecf\u7406Lee Coppersmith\u5728\u4e0a\u5468\u516d\u81f4\u5ba2\u6237\u7684\u62a5\u544a\u4e2d\u6307\u51fa\uff1a\u201c\u4ed3\u4f4d\u4e0e\u8d44\u91d1\u6d41\u5411\u6570\u636e\u5370\u8bc1\u4e86\u4e00\u79cd\u89c2\u70b9\u2014\u2014\u6295\u8d44\u8005\u6b63\u5728\u5f3a\u5316\u98ce\u9669\u5bf9\u51b2\u63aa\u65bd\uff0c\u4f46\u5c1a\u672a\u5b9e\u8d28\u6027\u9000\u51fa\u5e02\u573a\u3002\u201d<\/p>\n

\u4e0a\u5468\u4e94\uff0c\u6807\u666e500\u6307\u6570\u518d\u5ea6\u4e0b\u632b1.3%\uff0c\u517611\u4e2a\u884c\u4e1a\u677f\u5757\u4e2d\u67099\u4e2a\u6536\u8dcc\u3002\u503c\u5f97\u6ce8\u610f\u7684\u662f\uff0c\u5c3d\u7ba1\u5f53\u65e5\u76d8\u4e2d\u4f4e\u70b9\u8ddd1\u6708\u521b\u4e0b\u7684\u5386\u53f2\u5cf0\u503c\u8dcc\u5e45\u5c1a\u4e0d\u8db34%\uff0c\u4f46\u9ad8\u76db<\/span>\u7f16\u5236\u7684\u201c\u7f8e\u56fd\u6ce2\u52a8\u6050\u614c\u6307\u6570\u201d\uff08US Vol Panic Index\uff09\u5374\u9aa4\u7136\u6500\u5347\u81f310\u5206\u5236\u4e0b\u76849.72\u5206\uff08\u63a5\u8fd1\u6ee1\u5206\uff09\u3002\u9ad8\u76db\u7b56\u7565\u5e08\u5206\u6790\u8ba4\u4e3a\uff0c\u8fd9\u79cd\u6307\u6570\u8868\u73b0\u4e0e\u6050\u614c\u6307\u6570\u4e4b\u95f4\u7684\u663e\u8457\u80cc\u79bb\uff0c\u63ed\u793a\u4e86\u5e02\u573a\u5185\u90e8\u5b58\u5728\u660e\u663e\u7684\u7ed3\u6784\u6027\u538b\u529b\uff1a\u4e2a\u80a1\u5c42\u9762\u7684\u629b\u552e\u538b\u529b\u8fdc\u5927\u4e8e\u5927\u76d8\u6307\u6570\u6240\u663e\u793a\u7684\u6e29\u548c\u8dcc\u5e45\u3002<\/p>\n

\u534e\u5c14\u8857\u8d44\u6df1\u7b56\u7565\u5e08\u3001\u6295\u8d44\u54a8\u8be2\u516c\u53f8Yardeni Research\u521b\u59cb\u4ebaEd Yarden\u8868\u793a\uff0c\u968f\u7740\u4e2d\u4e1c\u51b2\u7a81\u5347\u7ea7\u62d6\u7d2f\u5168\u7403\u5e02\u573a\uff0c\u7f8e\u56fd\u80a1\u5e02\u4eca\u5e74\u9762\u4e34\u6025\u5267\u629b\u552e\u7684\u98ce\u9669\u6b63\u5728\u4e0a\u5347\u3002<\/p>\n

Yardeni\u5c06\u4eca\u5e74\u4f59\u4e0b\u65f6\u95f4\u7f8e\u80a1\u51fa\u73b0\u201c\u5d29\u76d8\u5f0f\u4e0b\u8dcc\u201d\u7684\u6982\u7387\u4e0a\u8c03\u81f335%\uff0c\u800c\u6b64\u524d\u4e3a20%\u3002\u4e0e\u6b64\u540c\u65f6\uff0c\u4ed6\u628a\u201c\u7206\u53d1\u5f0f\u4e0a\u6da8\u201d\uff08\u66f4\u591a\u7531\u6295\u8d44\u8005\u60c5\u7eea\u800c\u975e\u57fa\u672c\u9762<\/a>\u9a71\u52a8\u7684\u4e0a\u6da8\u884c\u60c5\uff09\u7684\u6982\u7387\u4ece20%\u4e0b\u8c03\u81f35%\u3002<\/p>\n

\u4e0a\u8ff0\u8c03\u6574\u663e\u793a\u5bf9\u4e2d\u4e1c\u51b2\u7a81\u9677\u5165\u6301\u4e45\u6218\u5e76\u5f15\u53d1\u901a\u80c0\u51b2\u51fb\u7684\u62c5\u5fe7\u3002Yardeni\u8ba4\u4e3a\uff0c\u8fd9\u53ef\u80fd\u6253\u51fb\u6d88\u8d39\u8005\u3001\u4fb5\u8680\u4f01\u4e1a\u5229\u6da6\u7387\uff0c\u5e76\u4f7f\u7f8e\u8054\u50a8\u7684\u653f\u7b56\u8def\u5f84\u66f4\u4e3a\u590d\u6742\u3002\u5468\u4e00\u4e9a\u6d32\u65e9\u76d8\uff0cWTI\u539f\u6cb9\u671f\u8d27\u81ea2022\u5e74\u4ee5\u6765\u9996\u6b21\u5347\u7834\u6bcf\u6876100\u7f8e\u5143\uff0c\u62d6\u7d2f\u80a1\u7968\u4e0e\u7f8e\u56fd\u56fd\u503a\u540c\u6b65\u4e0b\u8dcc\u3002<\/p>\n

Yardeni\u5728\u62a5\u544a\u4e2d\u5199\u9053\uff0c\u7f8e\u56fd\u7ecf\u6d4e\u548c\u80a1\u5e02\u76ee\u524d\u8fdb\u9000\u4e24\u96be\uff0c\u7f8e\u8054\u50a8\u4e5f\u4e00\u6837\uff0c\u5982\u679c\u6cb9\u4ef7\u51b2\u51fb\u6301\u7eed\uff0c\u7f8e\u8054\u50a8\u7684\u53cc\u91cd\u4f7f\u547d\u5c06\u9677\u5165\u4e24\u96be\uff0c\u4e00\u8fb9\u662f\u901a\u80c0\u4e0a\u884c\u98ce\u9669\u52a0\u5267\uff0c\u53e6\u4e00\u8fb9\u662f\u5931\u4e1a\u7387\u4e0a\u5347\u3002<\/p>\n

\u7f8e\u5143\u663e\u7136\u5c06\u6210\u4e3a\u8d62\u5bb6\u3002\u8fc7\u53bb\u4e00\u5468\uff0c\u7f8e\u5143\u5151\u51e0\u4e4e\u6240\u6709\u4e3b\u8981\u8d27\u5e01<\/a>\u8d70\u5f3a\uff0c\u800c\u5305\u62ec\u7f8e\u56fd\u56fd\u503a\u3001\u65e5\u5143<\/a>\u3001\u745e\u58eb\u6cd5\u90ce\u548c\u9ec4\u91d1<\/a><\/span><\/span>\u5728\u5185\u7684\u5176\u4ed6\u4f20\u7edf\u907f\u9669\u8d44\u4ea7\u5219\u4e0b\u8dcc\u3002<\/p>\n

Marex Capital Markets Inc.\u91d1\u5c5e\u5206\u6790\u5e08Ed Meir\u8868\u793a\uff0c\u51b2\u7a81\u76f8\u5bf9\u8fc5\u901f\u5730\u7ed3\u675f\u53ef\u80fd\u4f1a\u4f7f\u7f8e\u5143\u8d70\u5f31\u3001\u9ec4\u91d1<\/a><\/span>\u4e0a\u6da8\uff0c\u800c\u4e00\u573a\u65f7\u65e5\u6301\u4e45\u7684\u6218\u4e89\u5c06\u56e0\u9884\u671f\u901a\u80c0\u4e0a\u5347\u800c\u63a8\u52a8\u7f8e\u5143\u548c\u7f8e\u56fd\u56fd\u503a\u6536\u76ca\u7387\u8d70\u9ad8\uff0c\u8fdb\u800c\u964d\u4f4e\u964d\u606f<\/a>\u7684\u53ef\u80fd\u6027\u3002<\/p>\n

\"\u5168\u7ebf\u8df3\u6c34\uff01\u6050\u614c\u6307\u6570\u98d9\u5347\uff01\u7f8e\u80a1\u7a81\u4f20\u5229\u7a7a\uff01\"<\/a><\/p>\n

(\u6765\u6e90:\u5929\u5929\u57fa\u91d1\u7f51)<\/p>\n","protected":false},"excerpt":{"rendered":"

\u7f8e\u80a1\u6050\u614c\u6307\u6570\uff0c\u518d\u5ea6\u98d9\u6da8\uff01 3\u67089\u65e5\uff0c\u7f8e\u80a1\u6050\u614c\u6307\u6570VIX\u4e00\u5ea6\u98d9\u5347\u8fd120%\u81f335.30\u70b9\uff0c\u521b2025\u5e744\u6708\u4ee5\u6765\u65b0\u9ad8 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[232],"tags":[134,266,368,96,142,265,80,241,350,186,88,367,97,30,29,34,42,385,192,38,51],"views":33,"_links":{"self":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/740609"}],"collection":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=740609"}],"version-history":[{"count":0,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/740609\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=740609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=740609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=740609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}