农林牧渔指数的波动特征分析

参照上证指数的波动特征对中国股市农林牧渔指数的波动特征进行分析，研究导致股市异常波动的影响因素和股价异常波动的特点。结果表明：农林牧渔指数市场具有异常波动的特点，但是相对上证指数来说，农林牧渔指数发生暴涨暴跌的可能性会比较小一点，市场对波动冲击的反应也比较灵敏，它的“长久记忆性特征”也没有那么显著，投资者对利好消息的反应更加强烈。农林牧渔指数呈现相对中国整体股市波动比较适度的情况，在此基础上，针对农林牧渔指数进一步良好的发展提出相关政策建议。

Analysis of Volatility Characteristics of the Agriculture, Forestry, Animal Husbandry and Fishery Index

This paper analyzes the volatility of the agriculture, forestry, animal husbandry and fishery index with reference to the Shanghai Composite Index, and then makes a study on the influencing factors of the stock market＇ s abnormal fluctuation and the characteristics of abnormal fluctuation. The results show that the agriculture, forestry, animal husbandry and fishery index has the characteristics of abnormal fluctuation. However, the chance for the index to rise and drop sharply is less, the market is more sensitive to the fluctuation and its long memory characteristic is not so significant, and investors＇ response to good market news is stronger. The agriculture, forestry, animal husbandry and fishery index presents a situation that its volatility is more moderate compared with the whole China＇ s stock market. Therefore, this paper puts forward relevant policy suggestions in the index＇s further good development.