has added valuations for the Science and Technology Innovation Board , innovative drugs and carbon neutral index this time. However, Wind has provided index valuations for the Science and Technology Innovation Board 50 (December 31, 2019), innovative drugs (starting on April 22, 2019) and carbon neutrality (October 21, 2021). The index valuation time is relatively short, so the valuation quantile reference is not too large.
Many investors want to know the daily index valuation changes, but they suffer from the lack of calculation tools and professional information databases. In the past, some years in the database were as short as 3 years and as long as 5 years. In order to let everyone better understand the changes in the corresponding indexes in a longer period, we selected 10-year data of Shanghai Stock Exchange 50, CSI 300, CSI 500, CSI 100, CSI Dividend and other indexes to calculate the valuation quantile. The valuation time length of other indexes is calculated based on the earliest valuation data in the WIND database. In this way, compared with the previous valuation quantile, the data span is increased, and the historical valuation quantile level of the index can be better judged.
December 28, 2022 A-share major index valuation table
Note: The data comes from Wind Information. The quantile of PE is the quantile of the latest PE in ascending order within the statistical interval. Quantile = current valuation ranking/total historical valuation Number, the smaller the value, the lower the valuation level during this period;
How to look at the main A-share index increase on December 28, 2022 situation
data table, briefly summarized, there are several methods:
1, momentum strategy.
combines today's increase, one-week increase, and the increase and decrease in the past month. Which index has a larger increase, indicating that it is a hot spot in the near future. If you want to chase hot spots, chase the index that has increased more recently.
2, reverse the strategy. Combined with the rise and fall in the past quarter and the past year, which index has a larger decline indicates that it is not a recent market hot spot. If you want to chase after the hot spot has risen and there is a possibility of industry rotation, you should ambush those indices that have experienced a smaller increase or a larger decline in recent years. These industries have been hit before and abandoned all those with larger declines. If the market hot spots rotate, there may be investment opportunities again.
3, valuation strategy. If the market is pursuing value stocks, you can choose an index with a low PE.
4, PE quantile. You can choose an index with a lower PE score for fixed investment or medium and long-term investment. However, because the time span of some indexes is not long enough, the PE quantile of some indexes may not be of great reference value, so it must be combined with other indicators for reference.
5. You need to observe the current market environment. (1) If the market environment is strong, you can use the momentum effect to find industries or indexes with better recent growth from the valuation table to chase strong industry indexes. (2) There are more opportunities for market sector rotation. You can use the valuation table to find out that stocks that have fallen more in the early period may rotate funds to this sector. (3) If the market style favors stocks with low valuations or high dividends, you can use the valuation table to find PE or index funds with higher dividend rates for investment. (4) If the market likes growth-oriented indexes, you can invest in indexes with higher valuations and smaller average market values of stocks and stocks.
6. In short, indicators are not omnipotent. They only help you as an investment reference. The most important thing is your understanding of the market and your judgment on the market. Of course, if it is an industry index, the industry's performance fundamentals are more critical.
Source: Net worth valuation report
